Training session
On 14 August (Sunday), SOS CV organized a training program for CIGs at Medipalle under Family Strengthening Program (FSP) on Financial Literacy. T Venkateshwarlu from Akshara Livelihoods facilitated the training. Around 50 women from seven CIGs participated in the training session.
Participants discussed monthly savings, internal and external loans (from SOS), loan interests and installments, fines, bank interest, internal loan lending process (including various things such as member application for a loan, group discussion on loan, loan approval based on nature of loan & loan repayment capacity of the member. We also discussed information on loan repayment terms & conditions and loan sanctions, types of loans (1. Productive loans 2. Consumption loans; In consumption loans: I. Emergency loans II. General loans), the need for loan rotation, norms for loan repayment, corpus fund, monthly meeting, bookkeeping, importance of Income Generation Program (IGP) loans, CIGs’ sustainability, etc. All members actively participated in the training.
We are confident that this session will help the members make informed financial decisions.
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