MicroCredit project

1
Micro-Credit project

• Brief current status and budget

Mukti A Not-for-Profit Socio-Economic Organization
Visit Us www.muktiweb.org Email
info_at_muktiweb.org
2
Current Status

• Two Mukti volunteers have received extensive
  training from NABARD
• Two other experienced people also have joined
  them

Mukti A Not-for-Profit Socio-Economic Organization
Visit Us www.muktiweb.org Email
info_at_muktiweb.org
3
Project Plan

• 1. Each member trained from NABARD will form
  different self help group. Each group will
  consist of 10-15 persons.
• 2. The members/agents will get Rs. 600 for each
  group as a commission. This will be paid in
  installment as and when required and based on
  their performance.
• 3. The 10-15 member self help group will start
  small savings in the bank at their account. The
  agent employed by MUKTI will help them to
  understand how to open account and maintain.

Mukti A Not-for-Profit Socio-Economic Organization
Visit Us www.muktiweb.org Email
info_at_muktiweb.org
4
Project Plan

• 4. After 6 month member or members within a group
  will apply for loans from their account. The
  deposited money will be distributed among the
  interested entrepreneur depending upon the money
  they are asking for and money available in the
  account.
• 5. They will pay the monthly loan/interest as
  well as some money at their saving account. Other
  members will also put their money for saving as
  it was before.

Mukti A Not-for-Profit Socio-Economic
Organization
Visit Us www.muktiweb.org Email
info_at_muktiweb.org
5
Project Plan

• 6. Each group will have their own
  by-laws/passbook/documentation of their progress.
• 7. The members/agents will monitor the group till
  they are sufficiently independent. The members
  will also receive vocational training so that in
  turn they can train the group.

Mukti A Not-for-Profit Socio-Economic Organization
Visit Us www.muktiweb.org Email
info_at_muktiweb.org
6
Budget Plan
Cost to Mukti for running the project for each
group Commission for the leader(agent) 600/-
Rs. Documentation(stationary) 300/- Rs. Misc.
expenses 100/- Rs. ---------------------------
------------------------------------------------ T
otal 1000/- Rs We are targeting 50 groups
for now. so total would be Rs. 50,000/- Rs. For
vocational training (optional, may be needed in
some cases) we will need Rs. 10,000 more. So
grand total is Rs. 60,000.
Mukti A Not-for-Profit Socio-Economic Organization
Visit Us www.muktiweb.org Email
info_at_muktiweb.org