Posted: 31/03/2010
On 30th March 2010, slum dwellers from Asha Centers all over Delhi attended an event at Mayapuri. Loan cheques, issued by eight different national banks, were presented to more than a hundred new borrowers.
Mr. Sandip Ghose, Regional Director, Reserve Bank of India, was the chief guest and Mr. Sunil Pant, Chief General Manager, State Bank of India, presided over the function.
In her own welcome address, Dr Kiran Martin, Founder and Director Asha, described the conditions of Mayapuri when she first started work there. Since then, the improvements in environment and general community awareness, she said, have been immense.
Anandi, president of the Zakhira women's group, and one of the beneficiaries of an earlier loan scheme, also spoke about her own journey - that from a small village to the more difficult situation she faced in Delhi. Her speech inspired the audience of new borrowers, who had come to collect their own cheques.
Of the 109 recipients, almost 60% were female - an important factor in improving the status of women within their communities, empowering them to be more independent.
Loans, which ranged from Rs 5000 up to Rs 100,000 were granted for the expansion of businesses such as tailoring, food stalls, general stores, and the selling of garments, vegetables and artificial jewelry. The biggest loans were specifically given for home improvements, and the grand total of all loans was Rs 2,712,000 - approximately $60,000US or 39,000Euros.
For people who have never before had access to loans or even bank accounts, Asha's loan schemes have been a ray of hope. And the results have been outstanding - to date, 99% of all Asha loans have been repaid. This is far above the national average for loan repayment.
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Before, there was no electricity, now there is. There were lots of problems before, but now things are much better. Our lives have changed because of Asha and I would like people to be able to learn as we have, to receive all the training that we have, and to be as confident about ourselves as we are.
Meena, Community Health Volunteer, Dr Ambedkar Basti
