To Encourage Economic Empowerment

Val Successfully Engaging Them For Economic Empowerment Through Csr

This is a story of Katli and 497 women like her across 16 villages of Kalahandi district. With a smile, Katli Majhi says, “I had never seen a hundred rupee note in my life. We did not know how to use money in the market. It is Vedanta who taught us to generate income, meet our day to day needs and look at the world outside”.

The area has Siali leaves in abundance. Earlier the women were engaged in plucking and collection of the leaves. These non timber forest produce collected by them were purchased by middle men who used to pay them a meagre amount of 25 paisa for every 100 leaves collected. To encourage economic empowerment of the women of the area, the Jeebika Project was launched in collaboration with Shakti, a local NGO, who trained the women on leaf plate stitching. Further 100 sewing machines and 4 pressing machines were distributed among 498 women. Post the training the women got together and started a new venture of producing pressed siali leaf plates. This enterprise today fetches those ’40 for every 100 leaves Today Katli earns’2,700 per month. The leaf plates produced by them have found an assured market through formation of federations and one point procurement points in the villages of Balabhadrapur, Trilochanpur and Phuldumer.

Representative APR 391%

Let's say you want to borrow $100 for two week. Lender can charge you $15 for borrowing $100 for two weeks. You will need to return $115 to the lender at the end of 2 weeks. The cost of the $100 loan is a $15 finance charge and an annual percentage rate of 391 percent. If you decide to roll over the loan for another two weeks, lender can charge you another $15. If you roll-over the loan three times, the finance charge would climb to $60 to borrow the $100.

Implications of Non-payment: Some lenders in our network may automatically roll over your existing loan for another two weeks if you don't pay back the loan on time. Fees for renewing the loan range from lender to lender. Most of the time these fees equal the fees you paid to get the initial payday loan. We ask lenders in our network to follow legal and ethical collection practices set by industry associations and government agencies. Non-payment of a payday loan might negatively effect your credit history.

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