Rangde’s mission statement is succinct “To make poverty history in India by reaching out to under served communities through microcredit. We would do this through a network of committed field partners and social investors and offer microcredit that will have a positive impact on business, education, health and environment of the communities we work with.” Since 2006, going by the success rate as a micro-credit organization with a philanthropic perspective, it takes fulfillment at two levels, material and spiritual, and it is working wonders in the social fabric, slowly but surely. Smita, the co-founder & Chief Operations Officer’s daily tasks list includes nurturing Rang De chapters, talking to volunteers, evaluating borrowers and field partners, writing blogs, and overseeing operations.
Also India’s first online micro-lending platform, it was started by Sunita, a social worker and software consultant and husband NK Ramakrishna, as they returned to India, with their £6,000 in savings, looking for a worthwhile pursuit that would be beneficial to the community in the end. Providing low income households access to affordable microcredit, Range de thrives on the general public’s capability to become independent agents of change by making social investments as they lend small sums of money to micro-entrepreneurs from Indian villages and semi urban areas who have been denied access to credit. A Rang De social investor can invest as little as Rs.500 to help a borrower from any geographical area of their choice, now includes Jharkand, Kerala, Madhya Pradesh, Maharashtra and West Bengal.
The current loans for micro-enterprises from Range de is at 8.5 percent per annum and loans for education at 5 percent per annum. One could be a participant in Micro-credit, Micro venture and Education, donating in multiples of Rs 100 which is the basal unit. In a tightly knit society such as India’s, Range de has transformed charity into an enterprising action as their loans “make borrowers’ households stronger as they add an additional source of income to these households which in turn will help discourage child labour in their families, start fishing for themselves rather than giving them the fish, and the low interest rate charged on loans would help borrowers save money which they can spend on education, healthcare, and sanitation. Also, the social investor can lend the money to more borrowers once the borrower repays the loan. In other words, the social investor can use the same money to empower many individuals and allow them to come out of poverty rather than just supporting someone at a certain instance of time (which is what charity does).”
RangDe.Org is currently funded and supported by CSO Partners – strategic partner of ICICI Foundation.
Learn how Rangde is making a difference in social entrepreneurship in India.