A BRIEF PROFILE ABOUT ANANDITA MICRO CREDIT SERVICES FOUNDATION.
A number of schemes to alleviate poverty were introduced through the official development planning process. It was then thought that the poor has no capital and he needs money/credit to improve his conditions. Hence schemes with capital subsidy were introduced. The mainstream formal financing agencies are spatially and psychologically distant form the rural poor (especially the women). They do not appreciate the economic realities of the poor in different socio-cultural and livelihood processes. Thus, their standardized products, services and lending technologies are often inappropriate for the range, diversities and fluctuations of credit need of the poor. The experience of formal financing institutions of subsidy related programmes, with high transaction cost, poor recovery and shortage of manpower inhibited the Banks not going for such type of credit any further.
Hence the emergence of SHGs to reduce the cost of transitions, numbers of accounts and improve the rate of recovery. But people’s participation in various programmes, i.e. savings and thrift and credit habits were lacking. To improve the quality of life of the poor, State Govt., NABARD and NGOs in Orissa/Haryana/West Bengal focused their attention in promoting Self Help Groups, with peoples participations, strengthening their capacity and also linking them to a wider network.