Through December 2016 and January 2017 first half, Mann Deshi members in the field were busy not only in training and workshops, but also to fulfill its promise to those who made it through the last few month’s Journey; and most often successfully. Mann Deshi had announced at the second level of the training that a successful participant who would proceed further in the livelihood training will be assisted for their journey beyond this programme. It was possible as Mann Deshi is also a Women’s Bank. The two parts of the financial assistance were:
- A savings account for any willing participant in the bank; though Mann Deshi would assist them in opening the account, it would be completely their investments
- A fixed deposit account only for those who would take their enterprise ahead or may require support to study. The fixed deposit will mature as per the wish of the participant or after a limited no. of years
Total 334 savings account and 100 Fixed Deposit accounts have already been opened in the last one and a half months; 257 more savings account applications have been received in different branches. The savings account drive covered 55 villages/ locales while the Fixed Deposit drive covered 21 villages/ locales.
The idea was enabling the trained young women for regular savings. It was also for them who earned money from the recent marketing events and want to save it for long term for meeting specific expenditure – education, to renovation of houses to business investments, the FD will support them within the regulations of the bank. This was also an opportunity for a win win situation between Mann Deshi Foundation and Mann Deshi Mahila Bank. While the bank assisted in offering an incentive scheme for the participants, Mann Deshi Foundation assisted the bank to get more customers through the savings account drive.
Mann Deshi Foundation
Established in 1996, the Mann Deshi Foundation empowers rural women by supplementing the Bank’s financial service offerings with training, capacity building, skills development, awareness programmes and information sharing.
Mann Deshi Bank and Mann Deshi Foundation are independent institutions with similar mission and vision. Mann Deshi Bank, one of India’s largest women’s cooperative banks, is run by women, for women. Mann Deshi delivers a range of financial services – loans, savings, pension and insurance products – to unbanked, rural Indian women with very limited formal education, enabling them to finance their own businesses and to purchase property. Since the bank has been established, over 200,000 women in Maharashtra have been supported.
The Mann Deshi Foundation and the Commonwealth of Learning (COL) are working in collaboration through the GIRLS Inspire project to empower girls and women who would otherwise not have access to skills-based and life skills learning due to labour migration, early marriage, distance to school, security concerns and costs of schooling.
Learn more about Mann Deshi here.