Kamlabai lodhi is a rural entrepreneur from Katni district of the State, she owns a cow which gives 10 litres of milk daily and she sells the milk which supplements her family’s income. She was able to purchase a cow by investment from Rang De NGO. Now, she earns Rs 6000 per month which is helping her in getting her children educated.
Rang De NGO has helped over 1300 such entrepreneurs in the State and has disbursed Rs 91 lakh for their ventures. Rang De, a socio-economic development project has been also granted $ 1,00,000 by the World Bank on Wednesday.
While talking to The Pioneer Rang De Chief Operating Officer (COO) Nikhil Kaushal said that Rang De is a non-profit, web-based social initiative with a mission to provide cost effective credit to low income households in India. Through its online platform called RangDe.Org, Rang De enables individuals to lend as little as Rs 100 or more to rural entrepreneurs in India and currently funds small business and education loans. Kaushal further said that the objective of the project is to scale up Rang De’s operations in Madhya Pradesh by providing low cost financial support to 2000 women entrepreneurs from underserved communities.
They will be provided financial support to create awareness, knowledge and skills sets to make decisions about savings, investments, borrowings expenure in an informed manner.