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Ruksana-B Group
In this Group: Kanak, Hasina, Gitanjali, Snehalata
Ruksana-B is a Joint Liability Group formed by four active women from Bhawanipatna town in the Kalahandi district of Odisha, India. Kanak, sitting on the extreme left wearing a sky colored sari and holding turmeric powder, is the featured member. She is 29 years of age and lives with her husband and one daughter who is three years old.

Kanak is running a unit processing forest produce like turmeric, arrowroot, honey, mustard and jhuna. Her husband helps in her business and collects the forest produce from different places in the state and outside the state. After collection, Kanak processes the raw products, makes packets and supplies them to the retailers. She has also tied her business with a govt.agency called ORMAS and sold them at a lump sum for a high margin of profit. Her husband also used to go to different district and state level festivals where there is a congregation of persons to purchase her finished products by hiring a stall. Her monthly net income from the processing unit is around 12,000 INR.There is a heavy demand for her products but due to lack of funds, she could not meet the demands of the market. So with the present loan, Kanak planned to procure a bulk quantity of forest products for processing and selling in the market to earn more profit. She has a dream of providing better education to her child and constructing a house of her own in due course.

The other three members of her group are Hasina, Gitanjali and Snehalata. They are running a cloth business, an auto repair center and a Tiffin hotel, respectively.

Additional Information

More information about this loan

Mahashakti Foundation focuses its work in some of the most underdeveloped districts in Odisha, characterized by poor infrastructure and high levels of poverty. By supporting this loan, you are enabling access to finance for women living in some of India's poorest and most remote areas.

Important note about this loan

Due to Indian government regulations, if you fund this loan, you will not be repaid for at least 3 years. This borrower will likely repay your loan much sooner than that, in which case, the Field Partner may re-loan your funds to help other local borrowers. We want you to be aware of this minimum 3-year waiting period and the associated risks before making a loan to Indian borrowers on Kiva. Learn More >

About Mahashakti Foundation

Mahashakti Foundation is a public charitable trust that provides microfinance and development services in the low-income state of Odisha. Operating in the poorest region of India, the organization strives to serve rural communities, tribal groups and others living on less than USD$1 a day. In addition to microcredit, it also provides micro-savings and micro-insurance products, as well as business development, health, water and sanitation, and food security services.

This is a Group Loan

In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.

Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.

About India

  • $4,000
    Average annual income
  • 81
    View loans »
    India Loans Fundraising
  • $4,835,525
    Funds lent in using Kiva
  • 54.8
    India Rupees (INR) = $1 USD
Paying Back

This loan has been fully funded!

A portion of Ruksana-B Group's $1,025 loan helped a member to purchase turmeric, honey, arrowroot etc.
0% repaid
Repayment Term
43 months (Additional Information)
Repayment Schedule
At end of term
Disbursed:
Jan 15, 2013
Listed
Dec 18, 2012
Currency Exchange Loss:
Possible