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Client Stories, Uncategorized

Success Story of Sheela from Aluva, Kerala

In the bustling town of Vazhakulam, Aluva, Kerala, Sheela, a dedicated and ambitious woman, has experienced a remarkable transformation in her life, thanks to the support she received from IIFL SAMASTA. With a vision and determination to succeed, Sheela embarked on an entrepreneurial journey that has not only uplifted her own life but has also contributed to her family’s well-being. This write-up delves into Sheela’s inspiring story, highlighting the role played by IIFL Samasta in her success. Sheela, a resident of Vazhakulam, Aluva, has a loving family consisting of her husband and two children. In her pursuit of financial independence, she opened a small shop eight years ago, showcasing her talent in tailoring. However, she faced several challenges in expanding her business and lacked the resources to invest in modern equipment and machinery. In 2019, Sheela became a valued customer of IIFL SAMASTA, and since then, her life has taken a positive turn. Recognizing her potential, IIFL SAMASTA provided Sheela with the financial support she needed to grow her business. Sheela availed six loans from IIFL SAMASTA, allowing her to make significant progress in her entrepreneurial journey. With the financial assistance from IIFL SAMASTA, Sheela purchased a new state-of-the-art tailoring machine, marking a turning point in her business. Encouraged by the success, she further expanded her shop and added two more modern tailoring machines, increasing her production capacity. With these expansions, Sheela was able to provide employment opportunities to two more individuals, contributing to the local economy and uplifting the lives of others.`

Client Stories, Uncategorized

Weaving Her Legacy: Rekha’s Journey to Hand-Loom Success

Mrs. Rekha from Amingada Branch in Karnataka— is a true testament to entrepreneurial spirit and determination. Residing with her husband and two children, Mrs. Rekha runs a hand-loom unit where she weaves dreams into reality with every saree and garment she creates. Her journey with IIFL Samasta began in October 2021 when she took her first loan to fine-tune her business. With a keen eye for growth and a flawless repayment record, she soon secured a second loan, further fueling her ambition. Empowered by these financial boosts, Mrs. Rekha expanded her operation, adding new hand-loom machines and hiring a talented team to meet rising demands. Today, she has transformed her improved financial health into a source of joy and support for her family.Mrs. Rekha’s story is a vibrant illustration of how smart investments and steadfast financial practices can turn aspirations into achievements and dreams into a flourishing reality.

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Financial Literacy and Inclusion

Financial literacy is a vital component of a nation’s prosperity, intricately linked to its economic development. It involves acquiring the skills and understanding needed to make informed choices, efficiently handling finances and earnings for wise spending, and saving. Essentially, financial literacy empowers individuals to devise robust and sustainable financial strategies that suit their resources and income, addressing both immediate and future requirements. Our financial literacy initiative aims to educate women, youth, and farmers residing in underserved rural areas through village-level training sessions. Our program emphasizes essential financial concepts, such as income and expenses management, financial planning and budgeting, the significance of saving, borrowing practices, navigating formal financial systems, investment strategies, and understanding social benefit schemes. Following the training sessions, we establish kiosks at the village level to ensure ongoing support and assistance for financial inclusion. Our financial literacy efforts have benefitted over 64,000 individuals in rural areas, providing them with crucial financial skills. Thanks to this initiative, participants are now equipped to make informed financial choices, cultivate improved saving practices, utilize banking services, and enroll in diverse social benefit programs.

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