Last week, we were featured in an India Current Affairs article, "India: High-Tech Loans To The Rescue Of Rural Women".
Here's an excerpt from the article:
Last September, Priya Singh, a civil servant with the Indian Revenue Service, was chatting with her Singapore-based friend on the social networking site, Facebook. With Singh’s upcoming birthday, the conversation invariably turned to how she was planning to celebrate. Singh was looking to do something different that year and so her friend told her about Milaap, an online platform that enables ‘regular’ people to lend money to the working poor in select Indian states so that they can access basics like education, clean water, energy and sanitation.
Singh instantly logged on to their website (www.milaap.org). She not only understood their work and the loan management and repayment plan but also saw the kind of women, children and unemployed youth she would be reaching out to if she decided to lend money. Then, as she turned a year older, Singh marked the occasion by extending a loan, which she was sure would help someone, somewhere lead a better life.
Says Singh, “I had never imagined that becoming a lender would be such a joyful experience. It was the best birthday gift I could give myself. While I had been donating money and materials off-and-on, helping people who are helping themselves by giving them a loan has been satisfying.”
To read the rest of the article, visit their site. Thank you India Current Affairs!