Women Power: When a bank refused to provide loan, Revabai set up her own bank with nearly turnover of Rs 100 Cr

Revabai, an illiterate woman hails from Gandhawal, started her own bank eight years ago and now it has a turnover of approx 100 crores. Now, the services of Samriddhi Credit Organisation gradually reached 715 villages in the district, benefiting hundreds of women.

Barwani:An illiterate woman from Gandhawal, a mountainous region, 50 km from the tribal-dominated Barwani district - one of the backward districts of Madhya Pradesh - has literally proved the proverb 'where there is a will, there is a way' to be a true one.

Amidst the inaccessible hills of Satpura, Revabai established her very own bank named as Samriddhi Credit Organisation whose services gradually reached 715 villages in the district, benefiting hundreds of women.

About eight years ago, 10 to 12 women, who were financially strained at that time set up a bank by contributing a mere amount of Rs 5 each.

The bank now has 3,000 women members and a turn over of Rs 100 crore. So far, it has given out loans amounting to Rs 1.5 crore. The loans are given out without any guarantee, however, the bank has no defaulters.

Exactly eight years ago, a bank in Barwani refused to give loans to Revabai and her fellow women for farming, and today the same woman, Revabai is a chairperson of her own bank and hands out crore worth loans to the needy.

Thirteen other official posts of the bank are occupied by women. At present, 3000 women of 37 villages adjoining Gandhawal are being supported by the bank financially. Each investing the money in small businesses.

Revabai aims to make more and more women financially independent.

When the then Chief Minister, Shivraj Singh Chouhan heard about Revabai's inspiring initiative, he personally invited her to an event and honoured her on stage.

Samriddhi Credit Organisation, run by Gandhawal women was later supported by the livelihood mission which helped it open branches of the bank in a total of 715 villages. The branches are registered under the name of Samriddhi Autonomous Credit Institution Limited. All these branches are run by rural women, giving many a ladder to livelihood.

Revabai says that she started with taking a loan of Rs 1000 from her own bank and she bought hens from the loan. When the number grew and she made profits from the eggs, she repaid the loan amount and took out a fresh loan to buy a buffalo. She currently owes an amount of Rs 5 lakh that she took by mortgaging her farmland in order to invest in a four-wheeler.

The vehicle is useful for children to travel to school while also facilitating transport for the local people. Just like Revabai, numerous women are taking loans and investing it in their independent businesses to pave a way for better lives.

Not only Revabai's initiative brought her respect but it helped umpteen women to stand on their own two feet and become self-sufficient. This was the story of a living example Revabai, who erected a castle starting with a mere rock in her hand. Perhaps, rejection is sometimes a great motivation.