About
RGVN
Established
in April 1990, Rashtriya Gramin Vikas Nidhi, popularly known by its acronym RGVN
was established as an autonomous, non-profit organization registered under the
society’s registration act of 1860 and headquartered in Guwahati, Assam.
RGVN
is a national level multi-state development and support organization working in
the states of Assam, Arunachal Pradesh, Meghalaya, Mizoram, Nagaland, Manipur,
Tripura, Sikkim, Odisha, Jharkhand and Bihar. After expanding operations in the
Northeast, development activities were also extended to the poverty stricken
pockets of Chattisgarh, Eastern Uttar Pradesh and coastal Andhra Pradesh.
Over
the years, RGVN has been able to groom and support small community based
organizations involved in a variety of livelihood enhancement programmes. RGVNs
core strength comes from its network of NGO, community based organizations and
self-help groups, a number of who have now grown and are capable of handling
large development projects.
RGVN operates through its regional
offices based out of Guwahati, Bhubaneshwar, Patna and Raipur and also
mobilizes development support teams (DST) from strategic locations.
RGVN
has also been working in project mode by partnering with various national and
international NGOs/foundations in implementing programmes in the areas of
livelihood enhancement of the poor, financial literacy, environment protection
etc.
RGVN
has also been working in project mode by partnering with various national
and international NGOs/foundations in implementing programmes in the areas of
livelihood enhancement of the poor, financial literacy, environment protection
etc.
About Unnati
RGVN
has partnered with Vattikuti India Relief Foundation and Davinta Technologies (P)
Ltd. Bengaluru to carry forward its objective of financial inclusion of the
poor in rural areas with the intent of poverty alleviation. in this model, RGVN
acts as banking correspondent of a reputed bank, and to start with,
provides basic savings bank accounts and micro-loans(MFI model) at the
door-step of the poor through a network of own project offices and agents,
who are village shop-keepers. While the project staff identifies the customers,
facilitates group formation, collects finger-prints, KYC documents, and
bank’s deposit and loan applications and submits to the bank in both soft and
hard forms and also facilitates fortnightly recovery of loan installments.
The
agent perform the financial transactions through hand-held tablets and also
provides cash from his own sources (reimbursed subsequently by the bank through
the BC) .Davinta Technology’s Altifin Platform integrated with bank’s CBs is
used for conducting the entire BC operations.
In
addition, RGVN’s livelihood vertical motivates the micro-loanees to take up
various agricultural, horticultural, animal husbandry and fishery activities on
a cluster basis, which is appropriate for enhancement of their income in their
environment .support is also extended to them by imparting training, hand-holding,
arranging input supplies and market linkages through a network of hands-on
consultants and local service providers identified/developed by RGVN.
The
model is expected to be self-sustainable through its BC commission
earnings in course of time. Until such time, Vattikutti India Relief Foundation,
which is a US-based non-profit corporation, supports the programme by
funding the gap.
Benefits
to different stake-holders:
1. The
poor gets micro-loans at their door-steps at a cheaper rate, i.e. 17/18%
2.
The poor are motivated and supported to take up and succeed in rural
income-augmenting activities. (agricultural, horticultural, animal husbandry
and fishery)
3. Opportunity for the poor to come out of
the vicious cycle of MFI loans by augmenting income.
4. Banking services and financial security
products available at village kirana shop for the people in remote villages
also.
5. Bank will be able to outreach various
banking services through branchless mode even in remote rural areas, mobilize
cheap deposit, sell not only banking products; but also other financial
products.
6. Growth of direct agricultural loans in
bank’s books, both in number and amount with minimum involvement of own
manpower.
7. Growth of NPA-free portfolio in bank’s
books, as loan recovery is done through proven micro-finance model.
8. RGVN’s dependence on grant funds to pursue
its social welfare objectives will reduce.
The
model is already working successfully, with RGVN as BC of a major public sector
bank in only two blocks of Assam; but would like to expand by partnering with
more banks in different areas.
About technology service
provider & technology platform
Davinta
Technologies India Private Limited
is a technology company, a part of Vattikuti ventures, based in Bangalore, India.
it is specializing in the financial services domain. Davinta has over a
decade of experience in providing mobile payment solutions to clients across
the globe.
Davinta
currently works with public and private sector banks in India offering BC and
technology services to serve the last mile customers on behalf of the banks.
Davinta’s
FI technology platform, “Altifin”, supports all types of financial transactions
involved in financial inclusion.
Altifin, is a state of art solution for all activities related to
micropayments, financial inclusion, BC/BF operations and mobile wallet as well
as banking. This platform can be leveraged by all concerned stakeholders, i.e. banks;
BC/BF/BCA’s to smoothly manage their priority sector operations in order to
achieve the objective of total financial inclusion and poverty alleviation. Altifin
is an integrated FI platform that is simple, safe and secure while at the same
time offering end to end services.
Livelihood Programme covers the following aspects:
- Orientation training
- Vocational skill building
- Group management skill
- Book keeping and accountancy
- Business development skill
- Market place linkage – backward and forward linkage
- Augment the program through videos, posters, hand out, flip charts and street play