To automate 80 Credit societies in PY to change 40K lives

By Bhaaskaran Rangarajan

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Story


Hello,


My name is Bhaaskaran Rangarajan. I have acquired the complete rights of a software product, that can totally automate the operations of "Employees Cooperative Credit Societies". Employees Cooperative Credit Societies are those formed under the Societies Act and reporting into the department of cooperation in any state. They are formed by employees of either a Government department or by employees of a private manufacturing company. Typically these societies help worker class people get loans at cheaper interest rates and provide higher interest rates for deposits.


I have an opportunity through my proprietorship company "V2B Consultants" to fund the complete roll-out of the software in 80 employees cooperative credit societies in Pondicherry. I have identified a team of 12 people whose salary costs for 10 months have to be funded. With a monthly requirement of Rs. 5 lakhs, I need a minimum of Rs. 50 lacs to roll-out this product in Pondicherry over a ten month period. This project will touch the lives of 40,000 worker class people, who typically get fleeced by private lenders. These societies are extremely slow without automation and a loan application can take weeks to over a month to process. With this automation, loans can be processed in hours to a couple of days.


Once this product is established in a small UT like Pondicherry, I can take this product nationwide to impact the lives  of members of over 100,000 employees credit societies across India. On an average a society will have 1000 members - hence we can impact the lives of 10 Crore people over a period of time. The cooperative economy is one of the oldest in India and is facing a severe digital divide compared to banks.


Please help me accomplish this in the next 10 months so I can showcase this success story and work on national plans.


Every rupee you contribute is going to help change the lives of 40,000 people. Rs. 50 lacs divided by 40,000 members in PY societies, we can automate at a cost of Rs. 125 per member!


Please generously contribute to this great cause.



Campaign Details


About Campaigner
BR
Bhaaskaran Rangarajan
 
About Beneficiary
VC
V2B Consultants

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