Chinmaya Brijeshwari Self Help Group has helped various women become entrepreneurs by providing loans.

Chinmaya Brijeshwari Self Help Group has helped various women become entrepreneurs by providing loans.

CORD formed the Chinmaya Brajeshwari Self Help Group with 20 women in Ward No. 2 of Halerakala Panchayat, Kangra Development Block, District Kangra, to cater to the financial needs of its members. This group has become a boon for those seeking loans for investment in livelihood activities. CORD requires each SHG to start providing loans from their savings from the first meeting, establishing a discipline of borrowing and timely repayment among members. This practice also helps in learning the process of bookkeeping effectively. Consequently, approximately Rs. 41,140 has been loaned to members for domestic and livelihood purposes from these savings.

The group has received two bank loans with CORD’s assistance: the first loan was Rs 3,00,000, and the second was Rs 7,50,000. Using these funds, Smt. Santosh Devi borrowed Rs 50,000 to buy carpentry equipment for her husband. Her monthly earnings have now increased to Rs 8,000, a significant improvement from before. Additionally, Mrs. Neetu Devi invested Rs. 150,000 from the loan in a sewing center, earning Rs. 10,000 monthly and training other women in sewing.

Smt. Rita Devi took a loan of Rs. 1,40,000 to open a mobile repair center for her son, which now brings in around Rs. 21,000 per month. Smt. Kamala Devi borrowed Rs. 1,00,000 to purchase two mules for her husband’s sand and brick transportation business, as vehicle transportation is unavailable in the area. They now earn about Rs 15,000 monthly from this venture.

These entrepreneurs have inspired other women in the group to start their livelihood projects. Other members have used loans for various purposes such as building toilets, furthering their children’s education, repairing homes, buying seeds and saplings for off-season vegetable farming, and covering costs for government-subsidized assets like ponds, goat, poultry, and cow sheds under the MNREGA program during the pandemic.