- Annapurna Pariwar made new schemes in their credit society for giving more better and wealthy life to their members.
- During 2017, Annapurna Group gave micro loans of around Rs.150 crores to the poor women and collected savings to the tune of Rs. 40 crores.
- Annapurna group gives loans without any collateral or security and yet the repayment rate is 100%. The repayment was not adversely affected even during the difficult period of recent demonetization.
Annapurna Pariwar is a group of 5 Developmental Organizations working in Pune and Mumbai with an aim of empowering poor women and their families in terms of finance, education, health and child development.
At the press conference Dr. Medha Purao-Samant, Founder Chairperson of Annapurna mentioned that “beginning next year Annapurna will be moving towards cashless transactions with members as their bank accounts have now been opened with great efforts. Loans ranging from Rs.30,000 to Rs.2 lakhs will be given without any collateral. Health insurance claims benefit shall range from Rs.20,000 to Rs.35,000. She also appealed to them to enroll themselves in the Adharpurna scheme brought to them by Annapurna and to take loans only if necessary”.
The financial year 2017-18 was a turbulent year due to two major decisions of the Government of India –One –Demonetisation & the other – Implementation of GST.
The Microfinance industry which caters to the credit needs of the poor in our country suffered a major blow during 2017-18. The NPA of the Banking sector has also grown in the past few years. But the NPA of Micro Finance industry which was under 2% consistently for last 5 years rose to 9% at the national level & 20% at the Maharashtra State level.
In such a scenario, Annapurna Pariwar has done extremely well. Annapurna Pariwar not only provides credit facilities without any collateral security / guarantee to the poor but provides a comprehensive financial package of credit, savings, Health & Life & Family insurance & old-age savings and also provides non-financial services like Day Care Centers for children & client education, Financial Literacy Training etc.
Annapurna Pariwar disbursed Rs.150 crores in the year 2017-18 to its members, who are also the shareholders of AMCCSL. The NPA (PAR) is under control at 1% which is much lower than the Microfinance Industry.
Annapurna Pariwar collected voluntary savings from its members – the amount rose from Rs.33 crores to Rs.40 crores in 2017-18. Annapurna Pariwar disbursed Health Claims for the sickness of its members & their family members to the tune of Rs.91 lakhs in 2017-18. This is a unique facility which no other Micro finance industry offers. Micro Insurance in India is still not reaching out the poor & needy families suffering from health problems.Annapurna Pariwar disbursed to the members Death claims & their family members to the tune of Rs.35 lakhs (LMF + FMF) in 2017-18. With all the financial services Annapurna Pariwar has sailed through the rough waters in the past year.
In the year 2018-19 Annapurna Pariwar plans to extend a better package of credit, saving, Health & Life insurance.The loan size will be higher with a reduced interest rate. The Health insurance amount will be much higher than the previous years. Annapurna Pariwar made new schemes in their credit society for giving more better and wealthy life to their members. They increased loan amount and also giving higher ROI on FD’s.
We look forward to servicing our members who are poor self-employed women & thus achieve our goal of Empowerment of Poor Women by upholding our sustainable yet not profit oriented model of Comprehensive Development.