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Dear All,
Workers Samadhan Fund(WSF) is a worker-led interest free loan system. It was set up in 2022 to provide funds to workers in need through a fair and transparent process. The decision to lend money is undertaken by a committee of 4 members. There are two men and two women on the committee, and they are all employees of the housekeeping department. Any worker in need of money can go to any member of the committee and make a request. After reviewing the request, the committee will decide whether to authorize funding or not. The borrower pays back the required amount in monthly installments. The fund operates on both one-time contributions and monthly contributions. Students, faculty and workers have donated to the fund in the past 1 year.
The SG-Demcol Fund was established during the pandemic when workers across departments were made to stay at home without pay, leading to harsh financial insecurity. Since then, we have maintained the Fund to assist workers with financial emergencies—particularly medical emergencies that don’t have ESI coverage, pending school fees, and loan repayment. Your contributions to the SG-Demcol Fund have therefore been an important source of assistance for them during times of financial distress, when the existing institutions failed to give them adequate financial and social security. Over the Summer of 2022, the SG-Demcol fund was handed over to 4 workers elected from the Housekeeping department and will be transformed into Worker Samadhan Fund (WSF), a worker-led interest-free loan system.
Workers Samadhan Fund(WSF) is a worker-led interest free loan system. It was set up in 2022 to provide funds to workers in need through a fair and transparent process. The decision to lend money is undertaken by a committee of 4 members. There are two men and two women on the committee, and they are all employees of the housekeeping department. Any worker in need of money can go to any member of the committee and make a request. After reviewing the request, the committee will decide whether to authorize funding or not. The borrower pays back the required amount in monthly installments. The fund operates on both one-time contributions and monthly contributions. Students, faculty and workers have donated to the fund in the past 1 year.
The SG-Demcol Fund was established during the pandemic when workers across departments were made to stay at home without pay, leading to harsh financial insecurity. Since then, we have maintained the Fund to assist workers with financial emergencies—particularly medical emergencies that don’t have ESI coverage, pending school fees, and loan repayment. Your contributions to the SG-Demcol Fund have therefore been an important source of assistance for them during times of financial distress, when the existing institutions failed to give them adequate financial and social security. Over the Summer of 2022, the SG-Demcol fund was handed over to 4 workers elected from the Housekeeping department and will be transformed into Worker Samadhan Fund (WSF), a worker-led interest-free loan system.
