Women as banking leaders: The success story of a women’s collective in Assam’s Dhubri district growing their thrift and credit society into a robust bank-Sanghamitra with 9000 women as members, shareholders

Like every year, this year also the world has celebrated International Women’s Day as a recognition of the capacity of women to overcome challenges. The challenges vary in different situations. There are various situations where women are, like rural and urban, non-literate and educated, poor and affluent, majority and minority, conflict and peaceful, mariginalised and mainstream. Some rural and marginal women of Dhubri District, Assam have walked extra miles to achieve their current stage of success from their humble beginning.

The begining of a journey:

The story goes back to 1996 when the national programme Mahila Samakhya of the Ministry of Education was launched in Dhubri. The programme aimed for empowering rural women in the selected states. In Assam, the programme was implemented through the organisation - Assam Mahila Samata Society (AMSS). In its heyday from mid-1990s till 2012, AMSS had actively pursued its prime agenda of mobilising women in educationally backward blocks through various capacity building programmes and exposure.

A woman supported by Sanghamitra utilising her loan to run business. (Photo: Iramoni Borah)

Dhubri happened to be one of the districts adopted in the first phase by AMSS. Initially, there was strict resistance from the communities against their women being collectivised into some groups formed exclusively for women. But eventually, people understood the value of the self-confidence, literacy, qualities of informed decision making that the women acquired after getting involved with the village level groups called sangha.

However, it was known to all that like many other government programmes, the Mahila Samakhya would also cease to exist once it would reach its target. Its main aim had always been strengthening the agencies of rural women so that they continue to create their rightful space by themselves. With these progressive thoughts in mind, two dynamic functionaries – Ms. Jayabala Ray and Ms. Iramoni Borah of the Dhubri District Implementation Unit of AMSS motivated the women of the sanghas and their block level federations to unite at district level for more sustainability, visibility and stronger action. As a result, the women formed Samakhya District Federation as an apex entity in 2013. Leaders and office bearers for the district federation were picked up from each block federation while the women of all the sanghas became its general members.

The Journey:

Since its formation, the district federation had been maintaining a thrift society within it for helping each other among its members. After a few years, the members felt the need for raising this thrift society up to a robust body to ensure uninterrupted economic security of its members since all the member women were from poor economic background. In 2017, as per the decision of its members, the district federation got itself registered under Assam Co-operative Societies Act, 2007 as thrift and credit society with a changed name, i.e., Sanghamitra Khudra Sanchay aru Rindan Mahila Samabai Samiti Limited. The expert mentoring by the founders - Jayabala as the Chairperson and Iramoni as Executive Member worked as a driving force. Starting with a meagre 12 thousand rupees as capital, the growth of Sanghamitra till its current status is remarkable.

Staff and members in the office of Sanghamitra (Photo: Iramoni Borah)

Sanghamitra is now regarded as a bank having its office at Dhubri town and providing employment to around 30 field functionaries and eight office staff. The maximum loan amount for individuals has increased to rupees 30 thousand from its initial 10 thousand. The rate of monthly interest is 1.5 per cent which is very low compared to that of many other financial agencies. Sanghamitra is currently holding rupees two crore plus as its core fund which is revolving among five thousand women who have availed loans. It has total nine thousand women as member/shareholders. Their individual monthly savings deposit ranges from 100 to 500 rupees, which was 10 to 20 rupees in 2017. The monthly savings amount is decided by the sangha, to which the member is affiliated to. Their bonding with sangha is still so strong that whenever any member applies for a personal loan, the other members of her sangha are required to sign to get it sanctioned.

Sanghamitra field staff: Meeting of shareholders (Photo: Iramoni Borah)

Expressing satisfaction over the developments, Ms. Charu Barman, former President of Mahamaya block federation, who is currently working as a fund collector of Sanghamitra says that after getting involved with Sanghamitra, the women have not only become self-reliant but are helping their families with their enhanced income. They have utilised the loan to set up small enterprises or improve existing shops, while some others have got engaged in farming, constructed houses or purchased e-rickshaws to earn by carrying passengers. Sanghamitra also has a grocery shop of its own, which is run by its members to augment its principal fund. After the untimely demise of Jayabala during the COVID-19 pandemic period, Iramoni as the Chairperson is single handedly guiding the organisation.

Empowerment and decision making:

When asked how it differs from the self-help groups, she said, “Sanghamitra is based on the mutual trust of its members. They have formed it after their 20 years of journey along rough roads to gain control over own decisions. It will carry forward the original philosophy of its mother organisation AMSS. And unlike the flagship schemes, Sanghamitra will not be stopped anyway.”

Gaining recognition as a financial organisation has escalated the status of the district federation which has helped women in raising voice for social causes with more power and confidence. They also collaborate with various government. departments and civil society organisations to have optimum impact of their accelerated actions on fighting against domestic violence, dowry, early marriage and human trafficking, linking up children of migrant labourers with formal bridge courses, helping in girl-child education, skill development of women, protection of natural environment etc.

Sanghmitra staff members(Photo: Iramoni Borah)

In the last Annual General Meeting of Sanghamitra, its members through amendments in the bylaws, have made slight changes in its name from thrift and credit society to multipurpose society in order that along with its banking activities it retains its original focus of working as a pressure group to question injustice and patriarchy that overtly or covertly deprives most women and girls from accessing equal rights and resources.

Dr. Chitralekha Baruah

Dr. Chitralekha Baruah is a writer and researcher. She received Kunjabala Devi memorial award for her series of investigating reporting on witch hunting for the year 2012,awarded by The Assam Tribune Group and Laadli Media Award, 2020. She can be reached at [email protected]