Building financially capable communities
Through our Self-help Groups (SHGs), we work on providing women with opportunities to learn basic financial skills, inter-loan, and keep books of accounts. Our overarching objective is to empower women in launching their businesses and securing vital support for their other essential requirements.
CORD was the pioneer in the SHG movement in the northern parts of India’s adoption of SHGs with support from NABARD. It has trained more than 50,000 bankers, functionaries of the government and NGOs as well as community leaders.
CORD’s SHGs have been nurtured and facilitated within the Mahila Mandals which usually have 2-4 SHGs. The Mahila Mandals strength provides the SHGs within them have a strong base that sustains their resilience and continuity.
We established our SHGs for women in rural areas who may not have access to financial education and products. We work in groups of eight to twenty to form SHGs, which provide women with peer support, encouragement, and education. Women who participate in our program benefit from increased financial literacy, access to microcredit, and improved financial security for themselves and their families.
Our program has a positive impact on multiple areas of rural life. Women who participate can start their businesses, support their families, and contribute to the local economy. By providing access to financial products like individual bank accounts, pensions, and insurance schemes, we help to improve financial inclusion and security for families. We digitized SHGs using NABARD’s e-Shakti initiative, making financial transactions more streamlined, and accessible to women in rural areas. Women have access to credit without collateral through SHGs through linkages with the banks in their local areas.
With a participatory approach, we focus on collaborating with elected village leaders, community members, and government officials. We establish community-based organizations (CBOs) of women at the ward level in Gram Panchayat that serve as platforms for community participation and advocacy, mainstreaming (called Mahila Mandals with SHGs within them) the families in the wards to Upgram Sabha and Gram Sabha in a systematic manner.
We provide training and capacity-building support to elected leaders and community members to help them better understand and navigate government schemes and services. Through our focus on local self-governance and community participation, we are uplifting marginalized communities and improving their access to government services.
Total savings till March 2023
Total bank loans (Apr 2022-Mar 2023)
Total bank loans till date