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BACKGROUND
Dr. Prabhakar, alias Ron Puth, founder of SRI (Society for Rural Improvement) is a friend of Dr. Shashi Tharoor, former U.N. Under Secretary General, a colleague of Dr. Muhammad Yunus, the Nobel Laureate and a dual citizen of U.S.A. and India. After two decades of academic service in U.S.A., he has relocated to the rural areas of Kollengode, Palakkad, Kerala, India and embarked upon alleviation of poverty among the poorest rural women, by replicating the Grameen Banking System of Bangladesh, brilliantly conceived and meticulously executed by Dr. Muhammed Yunus. The Grameen Banking System of Bangladesh, which has been lauded by international financial community, takes micro-credit to the doorsteps of the poorest and needy rural women, as no banking system reaches out for them. Here the idea that credit is a fundamental human right struck him.
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| Dr . Prabhakar, Founder of SRI with Dr. Muhammad Yunus, Nobel Laureate |
Encouraged by this innovative concept and the field experience in Bangladesh, Dr. Prabhakar founded SRI (Society for Rural Improvement) in February, 1996 and committed himself to replicate the Grameen Banking System.
COMMISSIONING
THE PROJECT
SRI was registered under the Indian Trust Act
as a charitable and non-profit Trust on 26th, February 1996. After several
meetings with orientation, motivation, education and training about the basic
concept, principles, objectives and functions of Grameen Banking System, centers
No.1 & 2 were established at villages of Mathakode and Toompana, Kollengode,
Palakkad (A District of Kerala in India) with 10 women members at each center
and a disbursement of Rs. 100,000/- (US $ 2000). After twelve years, SRI
has expanded its clientele base to
30000
with 6000 groups in 14 branches in
8 districts of
Kerala and Tamil Nadu, (Palakkad, Trichur, Alleppey, Kollam, Trivandrum, Kottayam and
Malappuram
and Coimbatore) with a loan portfolio of
Rs.
12 crores only (US $ 30,00,000). Savings generated
among the beneficiaries is
Rs. 11 crores (US $
27,50,000)
Beneficiaries were carefully and painstakingly screened and selected based on need, desire and flexible poverty criteria.
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RESOURCES
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