Browsing by Author "Syed, Gulnasheen"

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    Rural Immersion project : Action for Social Advancement- (ASA), Bhopal
    (MICA, 2021) Agarwal, Anuroop; Das, Deyali; Syed, Gulnasheen; Vibha, Jahnavi; Deshmukh, Mrinal; Tina
    After conducting the interviews, we realised that though people are in need of loans and money the financial literacy among them is low. ASA has a great potential to educate the loan takers and keep them engaged and talk about the goodwill of the organisation. This will ensure that they have a strong hold on the finances and when they want to take a loan they will come back to the organisation as they have a standing trust factor with them. Financial literacy will also help them to be “ Atmanirbhar”. Having good financial literacy will also ensure timely replay of loans and less defaults. COVID has been an exceptionally testing for everyone and during COVID the respondents found it harder to repay the loan because of the lost sales, the moratorium for COVID stricken business could be longer. This would give them enough time to repay the loan. The organisation will be a support to them if they do this and this will help ensure the repeatability of the loan takers. After talking to the loan takers, we understood that they are independent and have access to digital platforms but the only thing lacking is that they are not digital literates. The organisation and leverage that and make them more digitally literate. This will encourage them to carry their transactions via digital formats. By doing this it would be a lesser hassle for both the loan takers as well as the organisation.