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Micro Finance
Objectives
To develop uniform ideology in creating movement for people who do not have access to the formal credit delivery system.
To enable them to set in a process, a supportive bank credit sand savings system.
To access and manage the external funds and bring cohesiveness among the members for facilitating income generating activities from available resources.
To strengthen the existing groups by developing skills of members to manage savings & credit and other economic programs.
To facilitate inter group exchange of information and experiences.
To maintain linkages between the member groups and other agencies.
To act as advocate for the member groups.
To lay emphasis on self governance with a bottom-up approach.
To Create socio-economic momentum in the community through SHG & build up confidence among them.
To Provide short term and long term loan to clients.
To Strengthen market support to the rural producers.
To mobilize the Group for addressing livelihood issues.
To monitoring the Function of SHGs.
 
Structure of ASSK
The members of the ASSK comprises one representative from each SHG to cluster level committee (consists of 10 or more members). Out of 10 members nominated 3 representatives to Executive Body committee ( 2 women + 1 man to selected Executive body as Board of Directors. Out of its Board of Directors elected a President, Vice-President, Secretary and Treasurer to look after day to day office work. All functions and role, responsibility authorized by the Executive Committee ( Board of Directors) and updated the records. NIPDIT depute one staff (as a Manager) who is looking after financial management and update books of account & assist to ASSK on PME & sustainability. Under manager, there are some animators appointed to carry out the planned activity.

Besides, an advisory board has also been formed at ASSK level which consist of 5 persons, the persons included are- MF Coordinator, NIPDIT, Deputy Registrar Cooperative Society DRCS, Phulbani; Bankers; AGM, NABARD. The function of the board is to provide support services and plan for future sustainability of ASSK.

 
Products Offered
Compulsory savings carried simple interest more than share capital offer to one member upto 10 nos. of share, each share Rs.10/-
Membership : a member provides Rs.20/- towards membership for one time.
Credit Service : a) Long term loan, b) Short term loan
 
Short term loan
Consumption purpose : Rs.1000/-
Agriculture purpose : Rs.2000/-
Interest on loan 24% per annum, turn of loan period – 6 months.
 
Long term loan
Loan amount for business purpose maximum Rs.15000/-
Interest on loan 18% per annum.
Turn of loan period : 1 year
 
Functions
Group Level Cluster Level ASSK Level
· Establishment/ Amend. Of norms.

· Implementation of norms.

· Disbursement and recovery of loans.

· Access & control over income and resources in house hold and community level.

· Access loans from different financial inst.& lending.

· Participants in credit plus development activities.

· Monitoring & strengthening the member groups.

· Promotion and dev. of new groups.

· Disbursement & recovery of loans from groups.

· Access loans from external financial inst. and lend to members.

· Training to groups on accounts.

· Auditing of groups accounts.

· Policy making.

· Training cluster associates.

· Orgn. Trainings/ exposure visit to groups/ clusters.

· Lobbying with Apex financial insts. In accessing loans fro cluster.

· Establish linkage with training/ marketing inst., networking and policy advocacy.

· Liasioning with Govt./ NBFI.

· Initiation of credit plus/ social dev. activities.

· Studying MIS.

· Auditing of ASSK.

 
Role of Cluster RGB
Participating actively in the meeting.
Obeying cluster norms.
Sharing the information with each group and cluster.
Providing the required information to cluster.
Co-operating with RGB in performing their roles.
 
Role of Board of Directors
To carry out the functions of the board of directors are divided into 3 sub groups have been followed in each ASSK To look after following sectors.
 
Role of President
Organizing and presiding the executive body meeting, Implementation of bye laws.
Approving the decisions taken in Executive body meetings, Monitoring the functioning secretary, treasurer and functional committees, Approving the induction of new groups.
Acting as a signatory for Bank Account, Liasioning with external institutions.
 
Role of Secretary
Convening and presiding the executive body meetings in the absence of President
Supporting the President in performing her roles.
Preparation of agenda for the meetings, Implementation of decisions taken in Executive body.
Submission of monthly financial report, Auditing the cluster records with help of auditor.
Monitoring the functioning of cluster associate, Approving the cluster associate expenses.
Ensuring the auditing of group level records, Acting as a signatory for bank account, Ensuring the proper maintenance of cluster meeting minutes records.
Responsible for all movable and immovable properties of the clusters.
 
Role of Treasurers
Collection of service fee, membership fee etc. from groups.
Disbursal of each to meet cluster expenses.
Ensuring the proper maintenance of accounts register.
 
Role of Managers
Initiating/ Proposing tasks or goals, defining a group problem, suggesting a procedure or ideals for solving a problem, Seeking information or opinions, requesting facts, seeking relevant information about group concerns, seeking suggestion and ideas.

Clarifying and elaboration, interpreting ideas or suggestion clearing up confusions, Summarizing, Consensus seeking , Harmonizing, Gate keeping, Encouraging, Compromising , Norms setting and testing.
 
Financial Intermediation
Financial related translation is taken care of by 4 persons ( Secretary & 3 skilled persons )
Loan application and business plan of group cross checking and finalized for loan sanction.
Loan disbursement and loan recovery plan for resource mobilization/ financial linkages and liasoning with Govt./NABARD Banks.
Update books of accounts/pass book periodical with help of MF Key Person.
Prepare financial report of ASSK/SHGs each month with help of MF Key Person.
According to loan norm and regulation monitoring periodical ASSK/SHG activities.
 
Enterprise Development
All enterprise related activities looked after by 4 members committee those who have been skilled about trade/market. The aspects are as follows.
Selection of trade according to local resource & condition, Skill & expertise of group.
Market demand of the products, Market linkage of SHGs/ASSK products.
Regular monitoring of enterprise related activities, When required any skill up gradation training for entrepreneurs plan made accordingly with the help of MF Key Persons.
 
Community Development
All credit plus activities are looked after by 7 Members Committee
Forest protection, Village sanitation, Gender and development, Women related issues like atrocities, violence, divorce etc.
Women to write & read word literacy/numeric literacy, Involvement in PRI , leadership, decision making and participation in all programs.
Legal aid education, lobby & advocacy on women issues, Community health development like sanitation, personal hygienic condition, promotion of nutritional garden to reducing MMR/IMR.
Regular monitoring of activities by committee and reported to EC monthly.
 
RGB: Cluster level Representative to General Body, RA: Rural Artisans; DRCS: Deputy Registrar Co-Operative Society
 
Each group President/ Secretary will be selected for cluster level RGB.

From Board directors selected officer bearer, President & Vice-President.

From cluster level RGB 3 members for board of directors 3Nos (2 women & 1 Man)

Office bearer of the ASSSSK ltd. (MF Key person, Secretary, Treasurer, Animators.)

Advisory Committee formed for ASSSSK ltd. ESS Coordinator, DRCS,m Bankers, Expert.

 
  Activities Achievements
SHG formed. 417
· Members involved
· Men
· Women
6255
641
5614
Savings in SHG level (Cash & Kind) Rs.12,27,529
No. of “A” Grade SHGs 229
No of “B” Grade SHGs 125
No of “C”Grade of SHGs 63
SHGs involved in IGA 334
SHGs involved in savings & credit activities 83
Bank linkage of SHG 175 Nos.
Loan from bank linkage/ from Govt. schemes Rs.22,38,200
NIPDIT RF loan support to ASSK Rs.11,20,000
Compulsory saving at ASSK level Rs.13,995
Share capital at ASSK level Rs.2440
Membership fees mobilized Rs.60,000
ASSK formed. 5
ASSK membership
Men
Women
3000
850
2150
No. of grain bank formed. 38
Families secured their food. 8812
No. of youth trained on vocational trade. (men & women) 365
Revolving loan support to vocational trainees. Rs.3,50,000
 
Qualitative Achievements
Through vocational training the youth/ women have been engaged in small scale productive activities like candle making, leaf plate, mushroom, broom, tie & die (weaving), slate making, turmeric & food processing. By this they are able to overcome the situation of under employment.

SHGs have increased the attitude for individual and community saving & helped improve socio-economic status of the members on a sustainable manner. This activity has helped them to be free from exploitation from clutches of money lenders and Sahukars.

Grain banks formed in the operational areas addressing the issues of food insecurity benefiting the families at the time of crisis. Further this issue is also integrated with various social aspects like health, education, nutrition, access & control over income etc. particularly of women. The grain banks are managed by the villagers & ensured food security, by this process the debt cycle has been reduced.

This activity further empowers women socially and economically by creating opportunities for them beyond credit.

Federation of SHGs and emerging of ASSK has provided a wider platform for SHGs to fight for their economic rights in particular and women’s rights in general.
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