Nation’s development is only possible when the marginalized sections of the society (women, poor, rural deprival, etc.) are addressed with equal opportunities and services. In the name of modern development, these groups are often neglected in terms of financial services and opportunities and are left on their situation. Microfinance model works on these parts of the challenge and provides essential financial services like banking and microcredits in these underdeveloped areas to help them start their income-generating business. Microfinance institutions help them, especially women, by inculcating the saving habit and providing easy loans/ credit options to make them self-reliant and self-sustainable.
Equality in economic values has been preached since ancient times and could be found in the scriptures and ancient writings. Arth is a symbolic form of equality in economic values and functions by providing support to the poverty-stricken rural households to come under the nation’s financial mainstream.
Arth microfinance under the banner of Kuldhara Group works majorly in the districts and villages of Rajasthan, Madhya Pradesh, Punjab, and Haryana. Arth microfinance was conceptualized by the combined efforts of the Indian Institute of Rural Development (SIIRD) and an NGO which took care of all the financial necessities in the rural underprivileged areas.
Working in the unorganized financial sector for decades, Arth recognizes the hidden talent and entrepreneurial mindset of the underprivileged people and focuses on providing easy micro-credit options to them as a means to get self-reliant and start their own business. These microcredit borrowings are sometimes the only source of income for them to pay against the surmounting debt trap or try to get out of the vicious cycle of poverty. This micro-lending is used by them as a source of investment and on their health and education, which is necessary to get out of their poor financial conditions. Generating assets and a stable means of livelihood are only possible to them through the genuine financial assistance, which Arth works on tirelessly, to ensure the proper access of mainstream financial opportunities to all the willing people.