Annapurna Pariwar completes 25 years of Service For the Empowerment of Poor Women

Annapurna Pariwar working for women’s empowerment has completed 25 years in January 2018. The meeting of women members was organized at Sugar Complex. Around eight to ten thousand women from Pune-Mumbai participated for this rally.

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 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. Loans ranging from Rs.30,000/- to Rs.20 lakhs will be given without guarantee/collateral security. The Health insurance amount will be much higher than the previous years with benefit ranging from Rs.20,000 to Rs.35,000 per head”. Said Dr. Medha Purao-Samant, Founder, CEO, Annapurna Pariwar.

We have already taken huge efforts and opened bank accounts of all our members so that we go cashless from April 2018. she added

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 1.30% 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.1.3 lakhs in 2017-18. This is a unique facility which no other Micro finance institution 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.

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.