Mann Deshi Sahakari Bank Case Study

1016 Words 5 Pages
A Case Study of The Mann Deshi Mahila Sahakari Bank (MDMSB): A Model of Financial Capability through Social Entrepreneurship

Ms. Minakshi Balkawade,
Assistant Professor, St. Mira’s College for Girls,
Pune, Maharashtra
Savitribai Phule Pune University

Abstract
Economic development in terms of poverty alleviation and gender equity is at the root of all State-run programmes in almost all emerging economies, including India. However although the Indian government has constantly launched commendable poverty alleviation programmes for the rural poor and women, along with financial inclusion initiatives, they have met a lack-lustre success, owing to a top-down approach i.e. either finance sans application (knowledge, skill and ability) or vice-versa.
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However it was thought that it is the moral obligation of the State to look beyond re-distribution of income and wealth to other essential issues like life expectancy, infant mortality, educational and employment opportunities, land rights, etc. This gave rise to the preference-based approach which was also not devoid of limitations. For instance trickle-down benefits are difficult without education and awareness of the availability of preferences, thereby necessitating a shift towards the capability approach.
This is highly imperative in a country like India, distressed with the challenge of gender inequity, which is evident in all spheres of life, more so in rural areas. According to Census 2011 [2] rural population is 68.84%, majority of it being women and children who are the hardest hit by poverty and thus at the heart of rural poverty alleviation measures.
Even the World Bank Report [3] and The UN Conference on Women [4] declared that women are central to the poverty alleviation efforts and therefore their economic, social and political empowerment is highly imperative for fostering enhanced rural development. This implies that growth in order to be progressive and transformative has to be
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APJ Abdul Kalam recommended - ‘Providing Urban Amenities in Rural Areas’ (PURA) programme for creating growth centres who would investment in dairying, animal husbandry, poultry, fisheries, forestry, goatry, etc. This entails endeavours like creation of self-employment opportunities, (especially for rural women, they being the backbone of the nation’s economic development), relating to farm and non-farm sector. In this regard the Indian government embarked on various programmes like - TRYSEM, DWCRA, SFDA, MFALDA, IRDP, NREP, RLEGP, JRY, NREGP and the like. In addition to this it also undertook a financial inclusion project hand-in-hand with RBI, the apex bank of the country, to provide financial assistance to the poor and unbanked, including women.
Secondly the corporate private sector embarked on programmes like contributing a part of their profits for social causes under the garb of Corporate Social Responsibility, however an ivory tower approach and the ulterior motive being enhancing brand representation (currently in India, under the New Companies Act, 2013, CSR initiatives have become

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