Mumbai based Credit Cooperative Society “Dharavi Sahakari Patpedhi Maryadit”, active in providing services to slum dwellers of not only the Dharavi area but other slum areas of Mumbai city is on a growth path. It has grown year after year providing good quality services to the poor people of the community.
Established in 1986 with a business mix of Rs 36k with 250 members and the credit coop today proudly claims to have a turnover of about Rs 31 crore. It also has a thriving membership base which is currently more than 13,000 members.
The total deposit of the society is Rs 19 cr and loans and advances rose to Rs 21 crore, said its Chairman Adv. Pradip Kadam proudly.
In the financial year 2018-19, the society earned a net profit to the tune of Rs 51.72 lakh. The Society is active in providing services to slum dwellers of not only the Dharavi area but other slum areas of Mumbai city.
“Dharavi Patpedhi has kept its track record of growth this year also. It has been ranked “A” category society by the auditors for last 10 years. It is growing consistently at good rate”, wrote it’s Chairman in a WhatsApp message.
Highlighting the growth rate Kadam wrote, “For the financial year 2018-19 the turnover has grown at 13.5%, profit grown by 27%, deposits grown by 8.78% whereas loan has grown by 13%. There is an increase of membership by more than 7000.
The credit society started the group loan scheme four years back and it proved to be a good scheme for the very poor people of the society.
Under the scheme, a group of 4 women is formed and they guarantee one other. It is purely a personal guarantee. Each woman is given loan in the range of Rs 15000- to maximum Rs. 40,000. And repayment is by 11 to 20 EMI.
The poor women who were taking loan from money lenders at the interest rate of 5% to 10% per month have joined the Dharavi Patpedhi society. The Dharavi Patpedhi has disbursed such loans to about 10,000 women. It has proven to be a very good scheme.
This scheme is only for the women. Dharavi Patpedhi is making them members of the society by taking their share of Rs.100 only. Thus Dharavi Patpedhi is having more women members than men, he underlined.