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Micro Finance (Taruni Mutually Aided Co-operative Society)

Objective of the society

To promote economic and social betterment of its members people through thrift, self-help and mutual aid in accordance with the principles of cooperation as enunciated in Section 3 of the ACT.

Approach

Mahila Margadarshi promoting a Taruni Mutual Aided Cooperative Society Ltd with urban slum dwellers for their enlistment, the society starts with 65 women from marginalized families members and permanent residents in srikakulam municipality

The society initiated in the month of April 2005 and registered under MACS Act at Registrar of Cooperative Societies, Srikakulam on 17 th June 2005

Every member has involved with a share capital and a regular monthly thrift amount Rs. 30/- to 50/-

It is capacitating the women members through providing skill development trainings for income generation, number of members involved in the trainings in tailoring, embroidery, Tie and Dye and jute bags making etc and set up their own income generating activity with small loans taking from the Taruni MACS

Activities

  • Encourage and afford all facilities for cultivating the habit of savings and thrift among its members.
  • Formulate and implement relief, benevolent, mutual aid and welfare schemes for the economic and social betterment of the members/people.
  • Offering financial and development counseling and implement necessary credit, non-credit and development projects / programmes for the overall welfare and development of the members and people.
  • Liaise with related agencies such as Government, regulatory authorities, financial institutions, banks, local, national and international development agencies, federal cooperatives, local bodies, corporate bodies, charitable institutions etc for obtaining any benefit or for promoting the interests of the members and the Cooperative Society, subject to the provisions of the related laws.
  • Lobby for more supportive legislation and Government policy and public support for augmenting the interest of the cooperative movement.
  • Promote the concept of thrift and credit as an integral component of community development programme and assist in promotion of viable, sustainable thrift and credit societies for interested and needy people and wherever possible.
  • Prepare websites and / or publish and distribute educational, training, management and development material like books, leaflets, pamphlets, paper ads and other reading material.
  • Prepare projects for overall development of the people especially for women development and approach to local, national and international organization for getting funds / grants to do the development activities.
  • Enter into arrangements with any Government, State, Municipal, Panchayat, local or any other authority and/or with any local, national and international development agencies and to obtain any benefit for the members of the society/for the people.
  • Subscribe or contribute or otherwise to assist or to guarantee money to charitable, educational, health, benevolent, scientific, cultural and public utility institutions or such objects and purposes having relation to the development and welfare of members and the society.
  • Collaborate with cooperative, financial and development organizations in financial and technical terms and promote subsidiary or new organizations.
  • Raise money from the members, people and donors through fees, subscriptions, donations, contributions, subsidies, grants, share capital, thrift and other types of deposits etc,
  • Organize or otherwise arrange for pension, insurance and health services to the members and provide development and other services to the people.
  • Hold necessary infrastructure and programmes to provide all required services for providing or enhancement of livelihood, employment, productivity, income and for improving the quality of life especially in health, shelter, education of members.
  • Make arrangements for capacity building training for members and people to identifying and salvation of local problems and given support to skill development and income generating trainings.
  • Receive grants, donations, deposits, borrowings and other contributions from the Government / Government agencies, banks, other financial institutions, cooperatives, corporate bodies, development agencies and individuals for general, as well as specific purposes.
  • Undertake any other activity which is incidental and essential for attainment of its aim.
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