Goal Oriented Savings & Credit

People have exposed to the habit of savings through the Self Help Groups by introducing small saving scheme and they began to save money according to their capacity. They were saving the money as the balance remaining after their expenses, but without any target. Therefore, they also used to withdraw the savings whenever they want spending in vague without any special purpose. This situation has been a matter of discussion for sometime in the forums of KAIROS. After several discussions, KAIROS has decided to persuade the SHG members to save the money for special purpose (like education, housing, sanitation, education, marriage of the girl children, etc,). The programme is a Decentralized Goal Oriented Deposit and Credit Programme called Schematic Deposit Programme. KAIROS ensured that this deposit is not withdrawn as in the case of saving deposits.

The scheme suggested that this deposit will not be withdrawn before its maturity by the individuals. But the required amount of a member can be given as credit from the schemes (that too only for the scheme for which he/she is enrolled) with equal co-security of two members of the scheme. The credit loan should be returned to the scheme in equal monthly installments (EMIs) by the loanee. As of now, there are 7435 members and an amount of Rs. 19,10,33,150/-. Out of the scheme, the total number of people benefited till the date are 4986. Category wise investment of the existing 31 schemes are

• For Housing Scheme - 27%
• For Marriage Scheme -22%,
• For Welfare Scheme - 15%
• For Income Generation Scheme - 30%
• For Education Scheme -6%