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Indian Co-operative Network for Women Serving Over One Million Poor Women Entrepreneurs
SME WORLD Bureau
Nov 2009
Nov 2009
Page 1 of 2
Indian Co-operative Network for Women (ICNW), a micro-finance outfit and a credit wing and multi-state co-operative network promoted by Working Women”s Forum India, took upon itself the gigantic task of innovating a new structure to serve the poor women entrepreneurs and to facilitate their participations at all levels of its operation.
Initiated more than three decades ago with only 800 members Working Women's Forum (India) is today a social movement of over 11,92,616 lakh women spread over 3676 villages and 2270 slums in 14 branches in the three southern states i.e. Tamil Nadu, Andhra Pradesh and Karnataka.
Members of the co-operative are involved in nearly 276 different occupations. The poor women entrepreneurs are engaged in petty professions as fisherwomen, beedi (country cigars) rollers, landless group of women, handicraft producers, women weavers/rope makers, street vendors/pavement hawkers, service specialists, etc.
Micro Credit Extension
Micro credit extension of the ICNW is an inclusive process and included the options of micro insurance/social security to cover the entire life cycle of women from birth to death i.e. from female child to reproductive age group to old age. The insurance covers for accidence, death, maternity benefits and natural disaster like tsunami, floods, earthquake and cyclone.
These poor women entrepreneurs have kept up the standard of co-operative bank in an extremely remarkable manner. They helped the banking staff to select, guarantee and supervise the end use of loans on their own in their neighbourhood. Some of them took up even higher responsibilities to provide pressure on default members for effective repayment. This effort of organizers and area leaders enabled ICNW to reach a recovery rate of over 98.33%. The initial capital of 8.2 million rupees in the ICNW has been rotated to 1800.14 million to 5,01,094 poor women entrepreneurs and the social security, maternity benefit and insurance programme reaches over 7,83,040 women for life, disability and health impediments. This amply shows the tremendous potential of capital growth towards long term financial sustainability within the network of poor women. (According to Portfolio Report June 2009)
The recent internal assessment study (2002-2007) of over 6,000 women members (random sample) involved in different occupations reveal the following details of socio-economic aspects in their lives.
ICNW Credit Programme and Its Effects
About 84.05% of the respondents have been with the Forum for almost a decade and 15.95% of the members are in the 10 to 20 years age group. The utilization of loan according to the data ranges from business investment, starting of additional business, paying of old debts, household expenses, children education. Thus, about 83.38% of the clients have utilized the loan amount for their trade. About 13.78% of the respondent said that they repaid their old debts and 60.78% have invested a part of their loan for their children's education.
Savings: About 99.43% of the clients have recognized the importance of savings and have started saving in ICNW.
Income Promotion Activities: There has been an extremely positive result in the skill training of food/chemical processing imparted to its members when their skills are found wanting. The training has improved their livelihood activities. The products produced by the clients are sold in their neighbourhood and small shops nearby. Nearly 63.35% manufactured these products themselves, 12.25% in groups, 68.17% were able to enhance their income and 3.08% were able to provide employment to other women.
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