Swashrayi
Mahila Sewa Sahakari Bank is SEWA members' largest cooperative,
the first of its kind in india. The bank is owned by the self-employed
women as share holders; policies are formulated by their own elected
Board of women workers. The Bank is professionally run by qualified
managers accountable to the Board.
SEWA
Bank was established in 1974 with 4000 members each contributed
Rs.10 as share capital. Today there are 93,000 active depositers.
In 1999, SEWA Bank celebrated 25 years of providing financial
services to poor, self-employed women. Always in debt, our members
initially raised the issue of their need for credit so as to free
them from the clutches of money-lenders and traders, to enhance
their businesses, build up assets in their own name, for children's
education, for the several emergencies including illness that
they face and many other purposes.
Swashrayi
Mahila Sewa Cooperative was the first of its kind. In fact, obtaining
Reserve Bank of India clearance for this women's bank was itself
a long struggle. But women were determined. They persevered. They
created banking systems suited to their own needs and have steered
their bank wisely for over two decades. They own their bank and
run it themselves through their Board. It has always been financially
sound and viable, earning surpluses and dividends for its share-holders.
Banking
with Women - 1999
| Activities |
No.of
Women |
Amount
(in lakhs of Rupees) |
| Savings
accounts |
93,000 |
1187.32 |
| Loans |
33,778 |
937.62 |
| Fixed
Deposits |
4,375 |
724.14 |
| Share
Capital |
27,980 |
107.86 |
| Total
Working Capital |
- |
38.28 |
| Surplus |
- |
3,059 |
