Swayam is spreading Financial literacy, Financial Inclusion, Skill building and is providing hassle free banking facilities like small loans, insurance products to the economically backward people either directly or through correspondent banking channel, in a transparent manner.
Swayam: Marching Ahead with differentiated approach
Procedures for beneficiary selection:
Swayam employs inclusive system of beneficiary selection whereby the credibility of the member is comprehensively verified through documentary evidences such as Residence proof and Identity Proof. Credit history of beneficiary is always verified through agencies like Highmark.
A well-designed training module is in place to impart ongoing customized training to members of the JLG to capacitate them not only refine their financial management skills but also, in subsequent progression, bring about their enhanced social well-being and quality of life.
Basic characteristics of training programme are enumerated as below:
a. We provide 3 days training
b. Identification of gap after verification of household assets, their credit requirements and ascertaining their intention for utilizing the credit amount for genuine purposes.
c. Train members how to form a cohesive group
d. Sensitise members about the essence of group dynamics, discipline, loan rationalization, loan disbursement and its utilization and repayment.
Our Monitoring Mechanism
• Appraisal of credit worthiness
• Due diligence by ABMs (Assistance Branch Managers) and BMs (Branch Managers) of Swayam Micro Services.
• Asset Verification / Loan Utilization Verification by Branch Manager / Credit Supervisors
• Swayam Micro Services not only empower the economically weaker Households (women) economically, but also focuses on building social capital base of these community members. Inculcating the virtues of conducting group meetings and empowering the members towards sensitization of social issues and putting community efforts to address those issues.
• Facilitating social causes like promoting literacy, financial literacy training among women members, cleanliness drive like helping in construction of toilets at home. Recently Swayam Micro Services is interacting with various Government authorities and Skill Development Centre of JCARC to initiate skill development for its members to promote livelihood options.