This action might not be possible to undo. Are you sure you want to continue?
Assignment Submitted by: Lusi Maity Roll No.: 34 SYMMS Submitted to Prof. Arun Datar Saket College of Management
which fought for the democratic and basic human rights of the rural and marginalized communities during the Indira Gandhi’s Emergency. Yale University appointed her as a World Fellow.Chetna Gala Sinha is an Indian social entrepreneur. and in 2003 Harvard University recognized her as a Bridge Builder. . The bank was established with help of a group of illiterate women and has now grown into a $562. where Mann Deshi Mahila Bank has its headquarters. Mann Deshi Mahila Sahakari Bank. Chetna is the mother of three sons and lives in Mhaswad. Finally. Money was the root cause of all their troubles. she earned her Masters degree in Commerce and Economics at the Mumbai University in 1982. In 2002. Chetna has received numerous additional awards for her pioneering work with women in drought affected areas of Western Maharashtra. “There are thousands of girls who drop out of school in Maharashtra every year.000 to start their own financial institution.” reports Naree. She is empowering women in drought prone areas of rural India by inculcating entrepreneurial skills and providing them access to land and other means of production. and has since served as its Chair. Born in Mumbai. Chetna Gala Sinha.000 firm by the end of 2011. In collaboration with HSBC. In 1997 she founded the Mann Deshi Mahila Group in Maharashtra. Chetna Gala Sinha was a leader in the Jayprakash Narayan student activist movement at the end of the 1970s. Chetna’s foundation established in 1994 governs a regulated co-operative bank that is completely operated by women and serves women customers. She founded chairperson. and Mann Deshi Udyogini aims at providing vocational training and financial training to these young women to enable them to become entrepreneurs. Founder/Chairperson: Chetna has dedicated her life to empowering women. a micro finance bank which lends to women in rural areas. The women needed to be removed from the shackles of poverty and money lenders in the drought-prone areas of Satara district in Maharashtra. Mann Deshi Bank established the Udyogini Business School in 2007. the relentless efforts of 500 rural women led to the mobilisation of a shareholder capital of Rs 600.com It was a struggle against all odds for Chetna Sinha who wanted rural women to be financially independent.
This is a new beginning for many farmer families. a village in Satara district. We needed deposits." says an optimistic Chetna Sinha. savings. It was a tough battle.all are given training in technical. financial and marketing skills to start and improve their own small enterprises. Last year. Mann Deshi Bank and the B-school have supported 17. "The biggest challenge was money. The duration of the program ranges from 3 days to 3 months. Besides a business school to train women into success entrepreneurs. When we submitted the applications with thumb impressions of the members. illiterate women. Mann Deshi Bank based in Mhaswad. Yale University appointed Chetna Sinha as a World Fellow. Chetna has received several additional awards for her pioneering work with women in drought affected areas of Western Maharashtra and Karnataka. making them understand the need to start a bank that could be their economic lifeline was quite a daunting task. It was very fulfilling to go back to the Reserve Bank with a group of women who had learned to calculate interest on any principal amount."Founded in 1997. "The bank has helped more than 62. the bank's net profit stood at Rs 20 lakh (Rs 2 million). and in 2003 Harvard University recognised her as a 'Bridge Builder'. Today. The courses are tailor-made to suit various requirements. These programs have considerably reduced farmer suicides in the rural areas. people to fulfill conditions of the Reserve Bank of India. Mann Deshi Bank offers individual and group loans. The women were then trained to read and write and given training in basic finance. insurance and pension plans." she says. is the largest microfinance bank in Maharashtra with about 127. the bank crossed the biggest hurdle and got the license. A B-school with a difference.000 agricultural households to start businesses. ." says Chetna. With this. the Mann Deshi Foundation runs a B-school which trains women to become successful entrepreneurs. Manndeshi Udyogini teaches anyone who is willing to learn. Besides this. The RBI officials were impressed. own property and start small businesses. The Mann Deshi Bank today prides to have assets of over Rs 40 crore (Rs 400 million) and a share capital of Rs 3." she says.5 crore (Rs 35 million). it is India's first rural financial institution to receive a cooperative license from the Reserve Bank of India.000 clients. From illiterate women to school dropouts .000 women to build assets. our application got rejected. In 2002. which lasted for two years. "The B-school was launched to meet the demand from women to be financially independent. Mobilising these poor.
who migrate in large numbers in search of employment when the land fails to support them. tailoring. the home. is establishing the various elements necessary to develop a culture of microenterprise among women in the inaccessible.The business school offers guidance on starting a business. and local government. financial guidance classes. The bus also has tailoring machines and laptops to train women. as a result of migration from rural areas. the women in this area have achieved a comprehensive improvement of their potential as equal participants and decision. have emerged as the de facto wage-earners for their families. supply chain management. Chetna Gala Sinha. The latest addition is a 'Mobile B-school'. Every year interns visit the B-school to do an impact study. It also has established creative measures for bringing money into the bank as well as lending from it. Women have historically been the repositories of traditional skills and. In the process. The Bank is the vehicle through which women in this drought stricken area can develop their learning potential so that remaining in their rural area becomes a more viable and sustainable option. and computer education. one of the distinctive qualities of her bank is that it does not confine itself to making loans but also puts into place the infrastructures needed to develop entrepreneurial success and assets among women. since they had the most available cash and the largest deposits in local banks. The Bank sponsors projects that emphasize these traditional skills and make them more effective through the introduction of technical assistance. The main component of Chetna's design is a Women's Bank (Mahila Bank). increase earnings. hone entrepreneurial skills. She gathered a small group of women and started a savings and credit project with a revolving fund from a localcredit cooperative. The courses include basic and literacy programs. Her plan has strategic components to allowaccess to cattle and land. Instead of drawing loans . It also reduces their dependence on their men-folk. At a time when microcredit schemes have become a cornerstone of development policy. fashion designing. which goes to every nook and corner of the villages to impart training to women.makers in the market. drought-prone areas of Maharashtra in Western India. The B-school also has a tie-up with Yale and Harvard universities. and develop local markets. "We have a partnership with HSBC Bank to fund the start-up capital for this innovative and exciting program. including loan options for seed capital. an experienced farmer. Chetna began by working with women from the shepherd community.
Similarly. Chetna then conceived the idea of a bank that would not merely make financial support available but would also create the infrastructures and training necessary to make lasting economic changes for women. who meet every six months. In a return to traditional methods. the women bought goats. The success of this program spread with the District Cooperative Bank taking up the scheme at the policy level for implementation. For example. an unusually large sum in terms of deposits and savings. she is working with related national institutions such as rural universities and the Wasteland Development Board to change their perspectives and policies . the women have experimented with using different mixtures for different crops. She is also working at the government policy level to channel grants to be routed through the bank. balance of nutrients. seed banks that promote local varieties and work to develop pest resistant strains are also supported. or "creating soil" as the women call it. seed management. mixed with other farm waste and water. and recycling of waste are discussed during the training session. including one in which people can pay their electricity bills through their bank accounts without having to go all the way to the electricity board and wait in line.in the form of credit.400). the bank has organized groups of vegetable vendors and provided training on how to grow vegetables without using expensive pesticides and fertilizers. and women with traditional skills and knowledge in this area are invited to participate. Chetna has introduced several novel schemes. though with the advent of chemical fertilizers. keeping in mind the skills and resources of the women concerned. Factors such as water use. The Mahila Bank was set up with 25 members from 235 villages. Crop residue is collected. and enough for the bank to get recognition from the Reserve Bank of India (the Federal bank that regulates the banking industry in the country). To facilitate cash flow for the banks. At another level. and then fermented in the sun. It does surveys of local markets and determines which products are profitable and can be easily used as a basis for economic activity.000 (approximately US $2. The Bank forms groups and sponsors activities that will be profitable. This helped them to increase their working assets. The Bank has also provided support to manure making. The Bank is structured in such a way that policy decision making rests with all the shareholder members. Chetna mobilized a paid-in capital of Rupees 100. use of the same formula for all crops has become commonplace.
Chetna has founded a second organization. fodder cultivation. She has organized meetings with village governing bodies to discuss property rights for women. Walai. and the fact that they are not treated as viable entrepreneurs. Along with economic empowerment. nearly 60 percent of the women have property in their name. . to carry out campaigns in other areas. Chetna anticipates a 50 percent reduction in the migratory trends in her region. ensuing debt. the organization has organized training camps in eleven subdistricts on effective government. rural district in order to pursue a career in farming. Chetna experienced firsthand the difficulties facing women: their inability to access financial support. and farming. In farming. The wisdom she obtained from her own experiences in farming gave her a frame of reference that accurately reflects the concerns of the average poor rural women and her family. the Mann Sub-district Organization for Societal Progress. In this way. who are often unable to assert ownership and control even when. Chetna has exhibited an independence of thought and a passionate commitment to her work. Chetna has been able to put her personal and family business experiences to good use in envisioning her current project. Chetna is convinced that the Bank will show other regular banks that financing of rural women is a viable and profitable option. She went against certain traditions of her middle-class family background by insisting on completing her education and waiting until she felt ready to marry. as in one village. As these schemes become more viable. An antiliquor campaign organized by Chetna resulted in the closing down of liquor shops in two villages. In virtually all aspects of her life. She also shifted from a hectic urban lifestyle in the country's commercial capital of Mumbai (Bombay) to a drought-prone.regarding women entrepreneurs and financing in the fields of animal husbandry. To support women's effectiveness in the panchayats.