All loans mentioned below are given as per RBI guidelines.
Income Generation Loan
A popular loan product offered to small scale entrepreneurs who look for building assets or infusing working capital. It is given for a period of 1-2 years and can be used for income generation activities such as livestock, vegetable vending, family enterprises, artisans etc. The loan amount is Rs. 15000-50000 and is in multiples of Rs.5000.
The secondary loan is given for existing purpose as a top up to the existing loan. 25% of the loan is allowed to be used for consumption or health purpose. The loan amount ranges from Rs.10,000 to Rs. 20,000 and is in multiples of Rs. 5000.
Clean Energy /Product Loan
In their pursuit for a sustainable life the poor are unintentionally forced to contribute to the degradation of the environment. Margdarshak always strives to build awareness on environmental protection and climate change among the staff, customers and other stakeholders. We encourage them to adopt environment- friendly lifestyle and provide them access to clean energy and energy efficient products through appropriate financial services and training.The solar /clean energy loans as well as loan for purchase of mobile/cycle are given to existing clients and is co-terminus with the existing loan.
Looking at the lack of appropriate housing in the state, Margdarshak undertook a market assessment on demand for un-secured and secured housing loans amongst its members in the states of UP and Bihar. The market research conducted in collaboration with AFHTAC will enable Margdarshak in designing and delivering house improvement, sanitation and housing loans to its members.
Margdarshak entered into BC partnership with IDBI Bank and Reliance Capital in few districts of UP and Haryana for providing mf loan to JLG members. The partnerships bring together the capacities of the partner in providing services to our members.
Margdarshak has created social metrics to track its achievements against social targets set out by the organisation. During the year, the organisation worked on developing a social dashboard for reporting.
Institutions are successful because of their people both past and present. Critical to our future success is the quality of the people our organisation can attract, recruit and retain. Recruiting the right person has tremendous benefits. The right person is someone who is well matched to the job tasks and our institution’s values and goals. If a person is a “good fit”, they will demonstrate high levels of initiative; they will be productive and likely to stay longer with our organisation.
The employees are hired on the basis of qualifications for the position, without regard to race, religion, age, state origin, gender, disability, marital status, or any other characteristic that may be protected by law. Selection for employment is solely contingent upon the individual’s ability to meet the qualifications as defined in the position description, and ability to perform in a satisfactory manner.The positions are normally advertised through leading newspapers/local newspaper/job sites etc.
Opportunities are also given to our clients/ group members by sending them vacancy details through SMS. During the year 304 employees were recruited for different positions.
Training & Development
Margdarshak is committed to creating a continuous learning culture within the institution, since it will have to depend on a highly trained, adaptable and effective work force to meet its challenges.
Margdarshak recognises the importance of financial literacy in the lives of low income segment clients. Margdarshak has been deeply engaged in providing financial literacy to its Microfinance clients over the past years. Margdarshak has now expanded the scope of financial literacy efforts to include the men and children. Men are still the decision maker in majority of the households and they need to understand the financial landscape to make better decisions for their family. Children will be the decision maker and the influencers in the near future. Through the financial literacy efforts we conduct
(1) Training sessions using reading materials, audios, videos, key take away messages and SMSs.
(2) Sensitisation drives to help customers in accessing digital platforms and break the taboo of accessing the financial services via digital platforms.
(3) Provision of services to encourage the customers to avail the services and
(4) Utilisation of services, to encourage them to use the services regularly.
Margdarshak in partnership with different institutions takes up initiative to facilitate skill development and livelihood employment opportunities for women and youth. Margdarshak follows a market led approach and build training and/or production centres that is equipped to address the quality and delivery needs of the market. The model enables to effectively connect the rural entrepreneurs to the market while ensuring the long term sustainability and potential to scale up the initiative.
As a socially responsible organisation, Margdarshak is contributing to the community with educational programs and development projects. Margdarshak is therefore, working towards addressing key issues pertaining to sanitation, health and education. The projects will significantly contribute to improving lifestyle of disadvantaged communities by improving access and quality of health care, sanitation and hygiene.