Rickshaw Bank program is designed to provide a means of self-employment to the poor and the marginalized rickshaw community. The Rickshaw Bank provides the target community with an income generating asset – the rickshaw, and allied services thus promoting micro entrepreneurship among urban poor and rural migrants.
As per our survey and experience in the field of microfinance, we had come out with the result that the borrowers did no utilize the loan appropriately. Majority of the loan amount is utilized for consumption and treatment of their family, leading to no improvement in their standard of living standard.
Due to this situation, BMC has decided to provide an asset to its loan clients. As reflected in our survey, we realize that most of the rickshaw pullers take rickshaw on rent and did not earn much form their work and that’s why unable to think on betterment of their family. For the betterment of life of rickshaw puller, BMC is providing rickshaw loan to the rickshaw. The loan would be payable as weekly installments. Hence the rickshaw pullers can easily repay the installment and create an asset for their life.
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