microfinance

Micro Finance

  • Under Annapurna Mahila Co-Op Credit Society a Multi-State Co- Operative Credit Society

    Micro Loans and Savings program for poor self employed women and men.

    Loans are given for Business creation or expansion, Education, Housing, Asset creation and repayment of old debts.

    Small loans are provided without any guarantee or collateral security.

    Small repetitive loans are given through "Joint Liability Group" (JLG).

    Joint Liability Groups are formed by 5 poor women / men and stand guarantee for the loan drawn by each member in the Group.

    JLGs are more suitable for urban and semi urban slums.

    Loan amount ranges from Rs. 25,000/- to Rs. 1,25,000/- to women / men in Micro Loan category. From a first loan which is smaller the borrowers go on borrowing higher loans depending on their performance in repayment, group strength and business improvement.

    Savings of up to 10% of the amount borrowed and Insurance of all members and their family members are significant features.

    SME Loans from 1,30,000 to 10,00,000 for Business Expansion & House Construction.

    Profile of the Borrowers : Vegetable vendors, fish sellers, fruit sellers,flower / garland sellers, rag pickers, papad rollers, construction and domestic workers, farm laborers, small fabricators, petty merchants, rickshaw drivers etc.

    98% of the borrowers - members are women.

Micro Savings Products & Services

J.L.G Product

Women Members form Joint Liability Groups to access micro loans from Annapurna Mahila Co-op Credit Soc. The same members jointly decide to keep small savings which are to the tune of 1% of the first saving amount to maximum 10% of their loan amount together with Annapurna Mahila Co-op Credit Soc.
This Joint Liability Groups keep this saving as long as they access the loan program and they get interest on the same saving.

J.L.G Deposit
Year : 2022-23 Members Amount
Pune 67,748 40,56,00,842
Mumbai 56,795 28,53,57,943
Total 1,24,543 69,09,58,784

Recurring Deposit

This scheme is introduced to all Borrower members as well as some Non- Borrower Members who become Share - Holders of Annapurna Mahila Co-op Credit Society. Each Borrower member can keep a deposit from starting of Rs. 100 to max. of Rs. 250 per month. Non- Borrower Members can keep as much amount as they like.
Everyone can keep the amount for 1year, 2 years, 3 years and they get a good interest on these deposits.

Recurring Deposit (Borrower Members)
Year : 2022-23 Members Amount
Pune 9,080 85,96,081
Mumbai 7,271 63,15,432
Total 16,351 1,49,11,513

Recurring Deposit (Non-Borrower Members)
Year : 2022-23 Members Amount
Pune 465 4,66,03,345
Mumbai 257 68,12,494
Total 722 5,34,15,839

Fixed Deposit

Fixed Deposit Scheme is introduced to all the Borrower Members as well as Non- Borrower Members.
Borrower Members can keep a minimum of Rs. 1000 and Non-Borrower Members can keep a minimum deposit of Rs. 5000 and above. They all become share holders and they get good interest for 1 year, 2 years, 3 years.

Fixed Deposit (Borrower Members)
Year : 2022-23 Members Amount
Pune 11,751 2,49,83,672
Mumbai 9,437 1,61,60,157
Total 21,188 4,11,43,829

Fixed Deposit (Non-Borrower Members)
Year : 2022-23 Members Amount
Pune 2,315 67,41,42,047
Mumbai 1,027 21,39,93,145
Total 3342 88,81,35,192

Adharpurna Scheme

Adharpurna - Longterm Savings Scheme which is only for the Borrower members of Annapurna Mahila Co-op Credit Soc. They get a good interest. They can pay in as long as they access the loan and as long as they reach the age of 65 years.
After 65 years of age, they start getting a payout on a monthly or quarterly basis so that they can secure their old age.
Year : 2022-23 Enrolled Members Adharpurna Fund
Pune 19,611 13,11,18,094
Mumbai 14,666 8,53,99,620
Total 34,277 21,65,17,713

All these deposits are collected by Annapurna mahila Co-op Credit Soc. And the interest is given by Annapurna Mahila Co-op Credit Society. The same deposits are used for the Micro Finance Program disbursement.

Adharpurna Scheme (Contribution v/s Benefit)

Documents required to open Adharpurna account:-

1) Passport size photographs :- 2
2) Any one ID documents ( PAN Card/ Adhar Card /Election card ) :-Xerox copy
Subcriber's today's Age Monthly payin Amt. Period of Pay in Total Yearly contribution Amt. Quarterly approx. amount after age of 65 years till death
With Spouse Without Spouse
25 100 40 1200 12150 12950
200 2400 24325 25900
300 3600 36475 38475
400 4800 48625 51825
500 6000 60800 64775
30 200 35 2400 15225 16225
300 3600 22850 24350
400 4800 30450 32450
500 6000 38075 40575
35 200 30 2400 9450 10075
300 3600 14175 15100
400 4800 18900 20150
500 6000 23625 25175
40 300 25 3600 8675 9250
400 4800 11575 12325
500 6000 14450 15400
600 7200 17350 18500
45 400 20 4800 6900 7350
500 6000 8625 9200
600 7200 10375 11050
50 500 15 6000 4925 5250
600 7200 5925 6300
700 8400 6900 7375
55 1000 10 12000 5175 5500
1100 13200 5675 6050
1200 14400 6200 6600

This service leads to the betterment of our Borrowers in terms of their earning capacity, family welfare, child education, and healthcare aspects.

Collection Centers in Pune slums

Collection Center Area
Collection Center 1 Dapodi, Sangvi
Collection Center 3 Karvenagar
Collection Center 4 Upper Indira Nagar
Collection Center 5 Yerawada – Vishrantvadi
Collection Center 6 Hadapsar – Chandan nagar
Collection Center 7 Bhawani Peth
Collection Center 8 Dhayari Phata, Vadgaon (Kh)
Collection Center 10 Shivajinagar, Alandi Road
Collection Center 15 Pimpri
Collection Center 16 Yeshwant Nagar, Yerawade
Collection Center 17 Parvati
Collection Center 18 Shiwane

Collection Centers in Mumbai slums

Collection Center Area
Collection Center 2 Sewri
Collection Center 3 Chembur
Collection Center 4 Kalwa
Collection Center 5 Mankhurd
Collection Center 6 Bhandup
Collection Center 7 Ghatkopar
Collection Center 8 Turbhe
Collection Center 9 Kalyan
Collection Center 10 Deonar
Collection Center 15 Thane (W)

Out Reach

Geographical Spread

Pune All slums approx. 650
Mumbai All slums approx. 1000
Beed All Villages approx. 150
Ichalkaranji All Villages approx. 60
Maval All Villages approx. 20

Comprehensive Rating by MCRIL

(Credit plus COCA) - M4 C2