Economic Development

According to McKinsey, there are approximately 0.8 bank accounts per household in urban areas as compared to the average of just 0.2 bank accounts per household in the rural areas. The lack of bank accounts in rural India contributes to India’s low financial depth.


To provide diversified livelihood opportunities mainly for the families living below the poverty line, we approached banks for micro-enterprise loans. Based on their eligibility, 122 loans have been granted though the Scheduled Caste-Scheduled Tribe Corporation. There were another 35 loans granted for the Backward Class communities.


The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) is an Indian labour law and social security measure that aims to guarantee the 'right to work'. Under this scheme, 720 job cards were given to the poor families living in the village. A sophisticated Meeseva center was established for the village. This center helps the villagers in processing important documents like Aadhaar Card, Voter ID Card, and passport. The village has been equipped with high-speed internet connectivity through cyber grid provided by the Andhra Pradesh government. We also ensured a home for every resident of the village with access to toilet, safe drinking water and uninterrupted power supply.

Our initiatives have enabled the villagers to have functional bank accounts. Because of this, the villagers now have access to banking facilities, micro insurance, pension schemes, and overdraft, and debit facilities.

IMAGES OF THIS INITIATIVE

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