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Bengaluru NGO extends loans to farmers widows in Warangal
Bengaluru-based non-profit organisation ‘Rang De’ came forward to support the widows of the farmers, who committed suicide in Warangal district by lending them microcredit.
Hanamkonda: Bengaluru-based non-profit organisation ‘Rang De’ came forward to support the widows of the farmers, who committed suicide in Warangal district by lending them microcredit.
Rang De, peer-to-peer lending platform has associated with the town-based Sarvodaya Youth Organisation, is offering loans to the farmers’ widows in the district. At a programme held in Hanamkonda, Parkal MLA Ch Dharma Reddy distributed loan of Rs 50,000s to a group of widows of Atmakur mandal.
The MLA advised the widows to make best use of the money to build small enterprises or engage in other livelihood activities. He lauded the courage being displayed by widows in facing difficulties and rebuilding their lives by procuring the loans.
The Sarvodaya secretary Pallepadu Damodar said Rang De has been functioning with an objective of fighting poverty by providing access to loans to low-income entrepreneurs in rural India wth 50 paise interest. It draws inspiration from Professor Muhammad Yunus of Grameen Bank in Bangladesh.
The selected widows were given each Rs 50,000 loan and every month 20 farmers’ widows would be selected to distribute the loans. The loans could be repaid in instalments spread over 24 months, he added.
