Banking the Unbanked
MEWA has involved its huge network of thousands of Women Self Help Groups(SHGs) and other innumerable villagers in its mission of “Banking the Unbanked” and has successfully inculcated in them the need and responsibility of repaying the availed Bank Loans on time. The Debt Recovery Data of the banks stand heavily in favour of the SHGs with 99% Debt Recovery vis-à-vis Debt recoveries from big corporate houses.
MEWA has, thus, tied up the SHG groups as well as the other villagers with the Regional Rural Bank (RRBs) in it
utmost mission of Financial Inclusion, the bigger picture of which, otherwise, on a pan-India scale, has largely stayed unachieved; and which is why a colossal amount of money has still remained outside the ambit of our banking system, even today.