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Gramin Vikas Co-operative Society Limited

Inactive Partner

Location : Jharkhand

Founded in : 04-10-2010

Founder : Mr. Samir Singh

About Gravico

GRAVICO has a unique approach to microfinance, micro savings and micro insurance. The central focus of the co-operative's operation is offering sustainable financial and capacity building services to the economically disadvantaged. Gravico is committed to improving the living standards of the rural poor and ensuring that they are active participants in economic, social and political development of Jharkhand.

Gravico works with underserved communities in the district of Dhanbad. Dhanbad consists of 1348 villages and has a population of 28 lakhs. It is also considered the coal capital of India. Jharkhand the 28th state of India is famous for its rich mineral resources like Uranium, Mica, Bauxite, Granite and also home to some of the poorest communities in India. That makes it all the more important for organizations like GRAVICO to make their presence felt.

Field Updates View All

Borrower Image
We met Rani at her shop. Her road side shop was stocked with variety of farm fresh vegetables. Rani buys the veggies from the local market where the rate is less and sells it at her shop. The customers are mostly people from nearby locality or the coal mine workers returning home after work. Rani informed us that she opens her shop at 7 in the morning till afternoon and then again at 4 PM for another 4 hours. After the shop hours she takes care of her kids and manages house hold chores. She informed us that earnings are good from her shop and she is able to repay the loan comfortably.

Evaluated By : Nikhil

Borrower Image
We met Rabiya Khatoon at her home. Rabiya has used the loan to buy a tailoring machine for Rs.4500. She earlier used to take sewing machine on hire and has used this loan to buy one of her own. Her husband Md. Ismail has a cycle repair shop. Rabiya takes orders from local shops for stitching petticoats. She gets paid @Rs.18 per dozen which by all means is very less. She informed us that the income from the business is not enough to repay the loan and at times Ismail has to pitch in to repay the loan on time. But Rabiya is happy that she now owns a machine and looks forward to increase her business in future. We wish her all the best.

Evaluated By : Nikhil

Partnership Summary

Total No. of Loans 1028
Total amount disbursed Rs.5,362,000
Expected repayment so far Rs.1,704,267
Amount repaid Rs.3,652,733
Amount delayed Rs.1,704,241
Amount defaulted Rs.5,000

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