Featured Institution: Rang De

I came across a site – Rang De (www.rangde.org) and I find it to be an exceptional concept. 

[Disclaimer: I have not done any background check on them yet. But the idea in itself is a very appealing and novel one to me]

For me, this is the kind of microfinance site I would love to encourage. I am quoting some of the things I read from the site. 

“Through Rang De we hope that many of us will be able to share and spread the colours of joy with other individuals. Rang De is an attempt to bring together the India that is economically progressing rapidly and the India that has been ignored and needs all our attention. Rang De is a platform for individuals to make a sustainable difference and join a mission to alleviate poverty…”

The Core beliefs that shaped Rang De are:

1. That most social issues if not all, are manifestations of poverty. Unless we address poverty holistically, our attempts will remain futile.
2. That microcredit is a sustainable means of alleviating poverty if it is affordable and can be accessed by all.
3. That charity and donations are hardly sustainable means to financial independence. In fact, it hinders an individual’s spirit to fight against poverty.

Rang De’s mission is to make microcredit accessible to all by lowering interest rates by doing things differently. To know how you can become a part of this mission please read further. 

How Rang De works?  

Step 1. Register and become a Social Investor. 

Step 2. Choose borrowers to make a social investment. You can invest as little as Rs.500. 

Step 3. Rang De ’s field partners receive and disburse loans to their borrowers. 

Step 4. Borrower repays loan according to a repayment schedule. 

Step 5. You receive a return of 3.5% on your social investment at the end of the tenure.