Burgeoning womanhood at the pyramid's bottom - Bandhan's headway Online publication date: Thu, 13-Aug-2015
by Satya Mohan Mishra; H.M. Jha 'Bidyarthi'; Mayur A. Dande; Pavan M. Kuchar
International Journal of Human Resources Development and Management (IJHRDM), Vol. 15, No. 2/3/4, 2015
Abstract: Witnessing destitution may assist emergence of desire to eradicate the same. The founder of 'Bandhan - Togetherness', after experiencing the horrors of poverty, thus initiated it in 2001. With a start-up capital of a meagre Rs. 2 lakh raised through cooperation of relatives, the aim of 'Bandhan' was to provide loans to borrowers belonging to the bottom-of-pyramid. The attempt bloomed with passage of time and gained trust. Today, the organisation has 2,016 branches with Rs. 29,900 crores lent to 5.5 million customers so far. SIDBI and World Bank picked up 11% stakes each and paid Rs. 50 cr. and Rs. 130 cr. respectively. Bandhan helped women change their lives by offering small loans. The founder concentrates on women as he feels they spend wisely. Getting the status of a bank, though may appear like a boon for the time-being, an unforeseen future awaits 'Bandhan'. A maxim goes - 'Change is inevitable, progress is optional'.
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