Apna Kosh ( MFI)

Microfinance

Apna Kosh the microfinance programme of BVS was formally launched in July 2007, with a view to increasing the accessibility of financing for the poor communities, along with the improved livelihood options that this has to offer. Two Livelihood Service Advisors, along with 3 social animators& 2 LSA and 2 loan officers form the team for Apna Kosh. With intensive training from BASIX, the team has succeeding in forming 16 new self help groups, and a modest sum of Rs.375000/- has been loaned out during the year. Software for Microfinance and training has been provided by BASIX.

BVS is establishing Apna Kosh (microfinance centre ) for the SHG members. Apna Kosh intends to provide savings and credit products for its members. As on 01 April 2007 Apna Kosh has 35 SHGs with 350 weavers as members and has a total savings of INR 800,000 with current outstanding of INR 173,000 and equity investment in BVS (INR 140,000 ) and in DAH Private Limited ( INR 155,000 ) and is managed by seven staff members. With the 100 % rate of recovery, this is good investment oppourtunity to financial institutions.