RangDe.Org is a Internet platform that raises social capital from individuals and deploys it as loan capital to low income households. Rang de’ initiative enables individuals to lend small sums of money to borrowers and help create a new form of capital, that is the social capital. Rang de has a front end that enables individuals, to become social investors to lend capital to low income households and a backend that enables field partner NGOs, to upload data about the borrowers including loan applications and manage their Rang De loan portfolio and lastly an interface for Rang De administration, which is similar to a core banking system that helps in reconciling the inflow and out flow of capital.
“Rang de” achieve it social mission through a network of committed field partners and social investors and offer microcredit that will have a positive impact on business, education, health and environment of the communities they work with.
The vision of the project is to make poverty history in India by reaching out to underserved communities through microcredit. It would do this through a network of committed field partners and social investors and offer microcredit that will have a positive impact on business, education, health and environment of the communities we work with.
Winner 2011, E Inclusion, Manthan Award 2011, Digital Inclusion for Development , South Asia
The Jury appreciated that within a short span of time the initiative could operate in 11 States, namely, Karnataka, Kerala, Tamil Nadu, Madhya Pradesh, Maharashtra, Orissa, West Bengal, Manipur, Bihar, Jharkhand and Gujarat with a total of 25 Field Partners and this confirmed the acceptance of the model adopted. It was also observed that till date Rang de organization could reach out to 10,247 borrowers, 2,921 social investors, with the social investments being raised under this project are of the order of Rupees 5.39 crore out of which credit repaid of the order of Rupees 3.5 crore. The Jury further observed that, having worked in the area of affordable microcredit for business, micro-ventures and education, the project has created an eco-system of social investors, field partners and borrowers, which would ultimately promote financial literacy and business mentoring programs, leading to empowering the communities the project works with.
The long term goal of the project is to provide a meaningful connect between the urban and rural population and enabling individuals to make social investments of their time and money.
The idea of Rang De was sown in the year 2006 - the same year when Mr. Yunus was awarded the Nobel Prize for his work with Grameen Bank. The motivation for starting Rang De was the belief that the peer to peer lending model could be leveraged to lower the cost of microcredit and reach out to under-served communities. RangDe.Org went live on January 26th 2008 (16:48 hrs to be precise!).
Rang De is registered as a non-profit organisation not because they are against the 'p' word but because they believe they are on a mission and cannot afford to lose focus. They are not in the frequent debated argument about profit or non profit. Their single minded focus is to ensure that our borrowers pay interest rates that are fair and our social investors can make a meaningful difference to other people's lives.
The project’s managers believe that they need to be sustainable and scale meaningfully. They get a nominal cut of 1% on all the loans repaid by the borrowers. If you ask them, will that suffice? May not be in the short term but if they stay in there long enough and try hard enough, they will definitely make it. A little bit of perseverance is good for all of us. After all Rome was not built in a day.
Digital Knowledge Center (DKC) is an initiative of Digital Empowerment Foundation (DEF) & National Internet Exchange of India (NIXI) to function as an ‘Online repository’ of best digital contents for development in India and South Asia.
With the incoming of new technology in ICT and digital content technology along with various technology delivery platforms, a lot many interventions in digital content have been taking place in South Asia. Interventions are visible in all major areas – Education, Learning, Health, Governance, Entertainment, Localization, Commerce, Culture, Environment, Tourism, Infrastructure and so on. Creation of digital content, its deployment, service delivery and usage has increased each day.
While these developments are taking place, it is equally critical to have these interventions and practices shared, exchanged, and deployable from one place to another. For this to happen, one needs to have a resource bank available for learning, sharing and replication. Digital Knowledge Centre works as such a platform in audio-visual documentation format, which provides solutions to many of our social, economic, cultural and governance challenges.