CSA Empowering Women through Financial Literacy!

CSA changes the life of 40 women with its Financial empowerment program (FEP) which began in November 2016 at Mumbai & Dharavi Island. The objective being to enable the marginalized & underprivileged women to understand the importance of savings. In order to encourage women to make their own decision for their personal & family growth and for the growth of the society at large, CSA in collaboration with its networking partners designed a module for the program. Engaging at the grass root level CSA conducted sessions every month at Poinsur, Bunderpakhadi, Goregaon & Uttan areas. Fifty women participated and understood the method of savings, the various types of bank accounts like Saving and Recurring Deposit(RD) and the procedure to open a simple bank account. Out of the 50 women, 40 completed their 12 months RD of Rs. 500 a month and decided to make an FD as well as restart an RD (of Rs.1000).
A lady from Bunderpakhadi said, “After the FEP program I learnt to save money daily. To increase my family income & savings I started to work as a domestic worker instead of staying home and have decided to increase my RD saving from Feb 2018.”

Another participant from Goregaon said,” I was working past 15 years as a domestic worker but I could never save even Rs.500 an annual but now I could save Rs.6000 last year.

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