Lakshmi Group

Lakshmi group in Minjur was the very first group formed in November 1992. The group was started with 20 members. Initially monthly savings per member was Rs 20. Presently they save Rs 20 a week and some of the members save up to Rs 100 per month.
In the initial stages , CRUSADE arranged loans for income generating programme from a Government Institution for all the members – Rs 6000 each for milch animal rearing, goat rearing, duck rearing and for small businesses. Later through bank the group secured three times total loan of Rs 500,000. In addition the group has availed Rs 70,000 Revolving fund with subsidy component of Rs 30,000 from Government. These cash flow into the group helped them to take up or strengthen an economic activity. The members now own more number of livestock – 19 milch animals & 182 goats. Two members are rearing ducks. Members now receive up to Rs 20,000 loan at a time from groups. Pattu recently received Rs 30,000 internal credit for housing.
Presently there are 15 members. Two members passed away and both families have got insurance money – Rosy Rs 10,000 from internal scheme then administered by CRUSADE and more recently family of Suguna got Rs 30,000 from Life Insurance Corporation. Vasantha and Banu have migrated and the one left the group apparently due to group problems.
When they started the group all members were staying in houses with thatch roof. Now, 10 of the 15 members have built all weather concrete houses – two from the project funds, one from Housing Company and seven members either from banks or from Government scheme. None were having toilet facility before joining the group. Now all but three of them have the facility. The remaining three members are also planning to have this facility soon.
Since they have built substantial savings and common fund, 11 of them have joined Life Insurance scheme paying annual premium of Rs 2200 to Rs 2800. Under this endowment scheme, they will receive around Rupees 100 000 (one lakh) after 16 years when the policy matures. In case of death of members, the family will get Rs 30,000. In addition to this all 15 members have joined Low premium insurance scheme – Rs 100 annually under which also the family will get Rs 30,000 in the event of death of the member.
All the members have got trained in Group management, record maintenance, accounts, Health, Panchayat system and in entrepreneurship. In Panchayat elections two members (one in each term) elected as ward members, one of them elected as Vice president. Nine members have been issued job card under National employment guarantee scheme which ensures 100 days of employment in a year with daily wages of Rs 80. Members of this group do not show much interest in this scheme as they earn more in self employment.
They are now able to transact all businesses independently and get direct bank credit when they need. Now the group has common fund of Rs 95,395. Kala, the animator of the group is one of the directors of ARH (Action Rural Housing),the housing company promoted by CRUSADE .