Economic Sustenance & SHGs
Economic sustenance and SHGS :
As part of the emphasis on providing means of sustainable livelihood to members, CS has endeavoured to promote the concepts of self help groups (SHGs) and encouraged members to save in the form of thrift savings. Due to the efforts of CS, today there are about 330 SHGs consisting of about 6000 members. The total internal thrift savings across as on date is about Rs. 80 lakhs(US§ 1.5 million) and resources mobilized through institutional finance for internal lending is about Rs.130 lakhs(US § 2.5 millions) .It is observed that the twin concept of internal thrift savings by the members and internal money lending to the fellow members and at lower interest rates has had multifold advantages for members. firstly, there is very little or no dependence on local money leaders who have for so long fleece these people with very high interest rates. Secondly the additional revenues generated by the groups through the internal money lending has contributed to higher income levels for all the members Desired Outcome of the program: In the past 25 years Chaitanya Sravanthi has reached out more than 10000 families with SHG based approach reaching over 1lakh population in 10 slums of Visakhapatnam Old City, namely Prasad Gardens, Kota Veedhi, Chilakpeta, Kobbari thota, Paindorapeta, Pandaveedhi, Rangireeju Veedhi, Vellampeta, Relli Veedhi, Jalari Peta. Many of these slums have been formed few decades back near the port area, old market commercial areas with migrants from surrounding districts.
Key Achievements:
- Chaitanya Sravanthi had been instrumental in building self sufficient families by promoting entrepreneurial skills and access to soft loans for 500 women Self Help Groups.
- Constant efforts to promote adult education has achieved overall 95% literacy among its members
- Chaitanya Sravanthi has facilitated 80 skill training programs benefiting 2250 women to start small business units.
