In 2009, a group of women from Jagannathpur Patna village stepped out to build a secured future for their family. They formed a small group in the locality and inculcated the habit of savings in themselves. If any one of the group members is in need of money, the saved amount of the group is given to the member as loan on low interest. This way their small needs were fulfilled as and when needed. As they were not keeping the money in banks, they could use the amount saved anytime.

The major source of income of Jagannathpur Patna is agriculture; therefore many of their husbands were solely involved in it. The major part of their income was used up for the purchase of fertilizers, pesticides and seeds as to buy these they took loans from local money-lenders on a high interest rate. Saving at the month end was quite difficult for their families and the saved amount was not sufficient to support a family in purchase of all this. Living an economically stable life was bit difficult for them till they came to know about Annapurna Microfinance Pvt. Ltd. A staff of Annapurna Microfinance contacted them and told the benefits of SHGs, its purpose and development through unity and a proper self help group. Finally with the continuous support and encouragement from Annapurna, Annapurna Baba Nilakantheswar SHG of 10 members was formed.

The group was given orientation on the loan products of Annapurna and the basic requirements for availing the loan. They were told the importance of savings and also the importance of saving in a Bank. Hereafter, they started saving the group’s saving in State Bank of India, Balakati. As agriculture was their first priority, they applied for agriculture loan in Annapurna. In the first cycle, they successfully availed a loan of Rs. 1, 00,000 from Annapurna Microfinance at an interest rate of 25% reducing. With the help of the loan, they took a nearby land on lease and started vegetable cultivation. In vegetable cultivation they invest Rs.99, 200 in the following accounts head.

As Vegetable cultivation helped them earn a good amount, they are actively involved in it. In this way they earned a good income and had a good saving even after repaying the monthly installment of Annapurna Microfinance without any delay.

With some addition to their monthly income they are now able to live a modest life and enhance their saving habits through which they are able to impart quality education to their children and maintain a sustainable livelihood. They are now in the second cycle of the loan as their business is already established and earning a healthy amount of profit, they will again be investing the amount in the same business for better yield. They are very grateful for Annapurna Microfinance, who made them self sustainable and financially literate.