I have practically witnessed how bandhan bank is helping poor people of bihar by providing micro loan upto rs. 1 lakh. Getting the loan is hassle free. A group of 10 to 15 women form a group and every member is given loan amout ranging from 25 thousand to 1 lakh for vaous purpose like grocery shop, cattle keeping, poultry or similar type of work. Loan approval merely takes 24 to 48 hrs for approval. Each member become gurantor of other member. Only adhaar card and 3 photographs are required.
Recovery of the loan is also very unique. Every fortnight a meeting takes place in the village itself, where one bank employee will visit and will collect the installment which is divided into 52 weeks. In my village hundreds of poor women have been issued the loan and there is not a single NPA. This is the most unique type of social service and business on the part of bandhan bank. Thanks bandhan bank for upliftment of the poor class.