Promoting Women Self Help Group (WSHG) and Joint Liability Group (JLG)
In early 2016, NABARD Financial Service Limited (Nabfins) Micro Finance Institution (MFI) business was officially started in Mizoram under National Bank for Agriculture and Rural Development (NABARD). Cod Nerc at present is one of Nabfins Partner/ Business Correspondents in the state of Mizoram. Now, its Operational areas are Aizawl and Serchhip District. Initially, we are looking forward in Lunglei District to extend this business. Nabfins seeks to promote inclusion of the poor and marginalized in growth, building confidence and management skills of the poor and their ability to lobby for change and build linkage with other in a positive manner. It focuses more on participation of women; uplifting them from economic crisis and capacity building. There are also large areas where people find it difficult to access a bank due to distance and lack of transport facilities; we (Nabfins in charge) operate in such areas.
Aizawl Nabfins: Nabfins loan were provided among women group like Self Help Group (SHG) and Joint Liability Group (JLG) for both men and women. Currently, around 650 household avail Nabfins Loan through Cod Nerc. First Pre-Disbursement was conducted in Aizawl on 30th April 2016, now total disbursed has reached SHG/ JLG amount Rs. 21,050,000.00 (Twenty one million and fifty thousand) only. Moreover, 67 SHGs and 59 JLGs involved in the areas of Aizawl.
Thenzawl Nabfins: Similar to other town/districts, Thenzawl Nabfins also been carried since March 2017 at Thenzawl town. The first pre disbursement was conducted on 24th August 2017. In these areas Nabfins loan were concentrated more in JLG than SHG. As of now, total number of group availing loans are 132 (131 JLG) and total amount has reached Rs. 19,200,000.00 (Nineteen Million and Two Hundred Thousand) only. Therefore, 635 households has been availing loan through Cod Nerc.