Pune: Chetna Gala Sinha, chairperson of the Mann Deshi Mahila Sahakari Bank, said the idea to establish the bank was driven by the women she worked with, who wanted a financial institution of their own.Speaking at the Senapati Bapat Memorial Lecture organised by the Department of Sociology at Savitribai Phule Pune University (SPPU) on Wednesday, she noted that the bank has consistently remained profitable and is now planning to expand. Discussions with the Reserve Bank of India (RBI) are currently underway to support this growth.The Mann Deshi Mahila Sahakari Bank was established when women working as daily wage earners in Mann taluka of Satara joined forces to create a cooperative institution to meet their financial needs.Recalling the early challenges, Sinha said, “Our women decided to have their own bank and joined their finances together. However, the RBI official said that the majority of the principal shareholders were illiterate and rejected our proposal. Our women took it upon themselves to be able to sign their names, and they travelled with me to the RBI when we decided to reapply. In front of theofficials, our women talked about their financial literacy.”Located in the drought-prone area of Satara, the genesis of the movement was Sinha’s exposure to Jaiprakash Narayan, who urged youngsters to experience India outside the cities.Sinha emphasised that her interactions with rural women have been a constant source of learning. “One day, a young girl came to our bank asking for a loan to buy a bicycle. When we asked why, she said that without a bicycle, she would not be able to go to school and would be married off. Her storyallowed us to think differently and takeup a project to distribute bicycles through the foundation,” she said.She also highlighted several initiatives introduced by the bank and its foundation, including support for old-age pensions, the use of biometric and voice-based SMS services, and the establishment of business schools for women in the region.
