Introduction

RMML is formed by a group of fifty entrepreneurs of Peddaramcherla Village of Jangaon Mandal in Warangal District in the year 1995 and Registered in 1998 under the APMACS Act, 1995. RMML is engaged in Thrift and credit related activities among members to achieve the organizational objective of women empowerment. Apart from these RMML also works for Health Education, Gender sensitization, Fertilizer Distribution, Distribution of Sewing Machine & Gas for women development and Family Financial Planning Programme. RMML is currently working in Jangaon, Jangaon District and Bhongiri Revenue Division in Nalgonda District, the organization has grown in phases in Jangaon, Raghunathapalli, Singarajupalli, Aler and Tarigoppula. It was spread to 250 villages with a total membership of nearly 25,000 women members from Aler and Gundala Mandals of Nalgonda district. The present structure of organization have 1271 Groups, 3813 Group Leaders, 612 village Committee Members, 162 Delegates and 15 Members in Board of Directors. This set up is supported by 41 female and 10 male staff members.

Important Functions of the RMML

The RMML discharges the following important functions for the furtherance of the objectives:

• The RMML seeks to enable women to achieve economic independence. It strives to go beyond credit delivery and provides services for integrated development centred on the needs of poor women. Credit is linked mainly to production and economic activities.
• Education of credit management is integrated with the provision of credit along with literacy and skill training for individual women, leadership training among groups for self-management and self-reliance.
• Accessibility of credit to women has been improved in terms of physical distance and simplification of procedures flexibility and other measures conductive to increase utilization of loan.
• Accessibility of training to women has been introduced time to time basis to promote enterprise in different field.
• The RMML has a policy and advocacy dimension in its working which provides a basis for revision in the formal system.
• The RMML promotes dissemination of information and experience among agencies in the Government and Non-Government sectors in the area of credit for poor women.

Management

• The RMML is being administered by a Governing Board members, specialists and representatives of organizations active in the field of finance and its management
• The Chief Executive Officer, President of the RMML responsible for the proper administration of the affairs of the RMML under the overall supervision, direction and control of the Governing Board.

Flexible Rate of Interest

RMML charges very nominal @ 18% per annum rate of interest calculated on reducing balance from their borrowing organisations.

• In case Group : 12%
• In case Individual: 15%

No Security to be offered

• RMML does not collateral security for loans
• Individual loans only have to collateral security for loans.

Repayment of the Loans

The entire loan with interest is re-paid in equal 6 to 24 instalments within 3 years, with 1 month initial grace. It varies depending upon RMML schemes.

Maximum Amount of Society and Special Loan

The maximum amount of loan that can be given to an individual member of women group is 2, 00,000/-

Maximum Amount of Village Loan

The maximum amount of loan that can be given Individual member of women group is 5,000/-, It can be modified by ADMIN

Margin Money to be contributed

The Member applying to RMML for loan, is supposed to calculate as follows – Generate the First Receipt for Membership fee - రసీదులు - Receipt Bifurcation

Saving amount, DRS and Share Capital are refundable amount to Member on Saving Account closing.

Areas where credit facilities could be availed by women

Credit for only income generating activities like:

• Agriculture
• Horticulture
• Dairy
• Poultry & Animal Husbandry
• Traditional & Modern Handicraft
• Working Capital for Small Business such as petty shop, teashop, vegetable & fruit shop etc.
• Asset creation & Asset redemption.
• Housing
• Any other Income generating activities in which borrowing women are capable to undertake for livelihood activities.

Member Savings and Distribution of loan - Parameters

• Member can pay the saving amount from 100 to 500, it can be modified by ADMIN, irrespective of the first time payment of savings opening amount
• Saving Amount should be a SINGLE entry within amount.
• User can pay Excess Loan EMI, it can be wave off in Principle and implicate on Interest.
• Member will be eligible for the loan of 3 time of saving amount after completion of 12 months saving period.
• Groups have to form with the members of 5, every member in group eligible for loan with guarantor of other members in the same group