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Introduction

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In order to make the overall development of small and marginal farmers, landless laborers more meaningful, the project initiated Microfinance (Pragatinidhi) programme in the year 1996. The main features of Pragatinidhi are

·         Adequate funds without any hassles and formalities

·         Convenient tenure

·         Easy accessibility and

·         Easy repayment installments

In the year 2003, the project reactivated Microfinance programme with systematic procedures with an intention to extend the programme on a large scale.  As per modified Pragathinidhi  programme the group can avail loan from the project for

·         Agriculture.

·         infrastructure development.

·         Non form sector development activities.

·         Group enterprise.                                                                                                          

Flow of funds to 'Pragathinidhi'  so far has been Rs. 1,612.97 crores. The loans were given to more than 89,861 groups and the recovery was 100%. 29,101 groups were added this year to the existing 85,826 groups. During the year 2010-11,  Pragathinidhi saw a leap in its activity amounting to Rs.53.46 crores as against the previous year's Rs.1,310.11crores.

No. of loans availed by the members for various purposes under Micro credit :    

Sl No

Purpose

No of loans 2010-11

Since inception

1.

Agricultural Development Programme

18,726

2,65,479

2.

Irrigation Programme

5,067

1,01,288

3.

Housing and Sanitation

32,418

4,73,260

4.

Self Employment

20,319

2,43,370

5.

Other Programmes

75,398

12,29,695

 

Total

1,52,398

23,13,092

 

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