What is the recruitment policy?

Digamber Finance has got a very swift recruitment procedure. We advertise in the local daily. The received applications are scanned, sorted and eligible candidates are called for the interview. The entire recruitment process takes place on a single day. Before leaving for the day, the selected candidates are handed over their appointment letters. The incumbents are then sent for a 3 days In Service Orientation (ISO) course. Upon successful completion of the ISO, they are posted at respective branches.

Why does Digamber Finance primarily target women?

Digamber Finance was set up to address the dual objective of poverty alleviation and women empowerment. The sole solution to it lay in focusing on increasing the family income through women which in turn gradually helps to increase the status of the woman in the family as well as in the society. Her confidence and decision making power also gets enhanced, her conjugal life improves. There is no second thought on the fact that women are better money managers.

Does the intervention focus on any particular Income Generating Activity?

The loans extended by Digamber Finance are to be utilized towards income generating activities viz. agriculture, zari work, embroidery, animal husbandry, crafts work, small cottage industries, small trading, vegetable vending, fishing, poultry, rice husking, horticulture, manufacture of surgical instruments, pottery, small services, small businesses etc.

What is the economic and social background of the clients?

  • Landless and asset less women
  • Monthly income less than Rs. 3,500 in rural areas, less than Rs. 5,000 in small towns and less than Rs. 7,000 in big cities and metros
  • Those who do not own more than 50 decimal (1/2acre) of land or capital of its equivalent value

Is Digamber Finance a grant or loan funded organisation?

The microfinance activities of Digamber Finance are supported by loan funding from the banks and financial institutions. We are working with 30 different banks including nationalized, private and foreign banks and also financial institutions. There is no grant funding for the microfinance operations. Digamber Finance is of the view that sustainability is very important for the survival of any organization but dependence on the grant funds restricts sustainability.

What is the operational methodology of Digamber Finance?

Digamber Finance follows a group formation, individual lending approach. A group of 10-20 members are formed. The clients have to attend the group meetings for 2 successive weeks. 2 weeks hence, they are entitled to receive loans. The loans are disbursed individually and directly to the members.