Financial inclusion and support for creating and sustaining enterprises is the core of our economic development work.
Through a sustainable approach of revolving funds and savings program, as well as by providing access to flexible, needs-based, ethical and people friendly financial institutions, we create income generation. A loan and repayment scheme provides thousands of people with an opportunity to access financial means.
Financial Inclusions Accounting Books
- AVAG works with people of the Auroville Bioregion, which is a rural area where the main occupation is farming. However, the harsh climate of the region causing prolonged drought like conditions along with an increase in dependency on farming inputs like of chemical pesticides and fertilisers has pushed several local inhabitants to abject poverty. Many resort to migrating to urban areas.
- Traditionally in rural India, people approach the village money lenders when in need of funds. Money lenders are informal sources of credit and often have no scruples against charging heavy rates of interest from poor farmers, which trap them in a cycle of unending debt.
- The economic development programmes of AVAG aim to pull people out of the clutches of poverty and money lenders by providing access to formal credit (through internal or external sources) with government regulated interest rates as well as creating opportunities to increase the average income of households.
- AVAG does this by providing valuable livelihood skills to women, who had remained thus far a mostly untapped potential in rural India. Trained women are then eligible for employment in various enterprises including AVAG’s own social enterprises, making them not just economically contributing members of the household but also empowering them with financial independence, self-confidence and self-reliance.
I was struggling to pay the school fee of my elder daughter, and receiving an AVAG-AVVAI loan meant that I did not take her out of school against her wish, because thanks to Auroville Village Action Group, I was able to pay.
I am working as a gardener and my husband is a farmer. We have two daughters, one studying nursing and the other in class twelve. Before I had heard about AVVAI, I thought about getting money from money lenders at a 60% interest rate per year.
We could see the excellent talents within all women. Especially this debate was wonderful. It looked like that this is happening in a big auditorium. This is totally new to all of us.
Women should be like this but they were kept aside. But women can do everything and it was truly proved only in this place. We were not happy in other places but here we are very happy. Even though we have sorrows at home, when we come here, Anbu Akka (sister) make us happy.
Amazing to see a huge women’s crowd. The way Anbu Akka and Village Action staff arrange this big event, is equal to 15 Tamil marriages. Much effort has been taken. Very useful for the people and I have seen them enjoying and happy. All sorrows have been forgotten. So it is a nice platform which you are creating Akka. It is really great!
We have friendship with all the women beyond caste (barriers). We feel that we have large family relations here to support us. This gives us courage, confidence, and there is a feeling of new energy within us.
At AVAG, I get the opportunity to connect with others and share my worries. This place helps me forget my hardships and I am very happy on the days I come to AVAG.
AVAG taught me to share my opinions and to speak well by listening to other’s opinions and responding. I experienced sharing and my talents have been nurtured here.
AVAG offered me timely help when I needed Medical Aid. Here I have learnt to differentiate right from wrong and have received recognition from my village as well as other federation members.
AVAG offers help to everyone and here I get the opportunity to meet people from different villages. I feel that AVAG is doing something new. As a member of the AVAG family, I can share my happiness and sorrows without any hesitation.