VISION:
The vision of Pashchimanchal Grameen Bikas Bank Limited is " Be a excellence micro finance bank to uplift the socio-economic conditions of the rural poor ".
MISSION:
The mission of Pashchimanchal Grameen Bikas Bank Limited is to create income and generate self-employment through micro credit to the rural poor at their doorsteps to reduce poverty level.
GOAL:
The goal of the PGGB is to work as a self-sustained develpment bank and serve a maximum number of the rural poor and the deprived through delivery of micro-finance services at the village level of different communities.
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Bank will serve 70,040 members in 2012
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Total loan outstanding in this period will be 1,002,127 million.
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Operational self-sufficiency and financial self-sufficiency will be attained since the initial year of the plan period.
OBJECTIVES:
The major objectives of the PGBB are to uplift the socio-economic conditions of the deprived people in the society. Specifically;
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Provide banking services to the rural people.
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Provide credits to create income and employment opportunities for the poor and help to reduce poverty level among the rural population in general and women in particular.
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Raise the level of the awareness and income status of the rural poor, and,
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Develop an institutional mechanism to link savings with credit and thereby initiate self-reliant economic development activities in rural society.
METHODOLOGY:
The bank has adopted the following operational procedures to achieve the stated objectives:
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Area selection (Poverty stricken rural area)
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Member preparation, group and center formation.
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Each group consists of 5 self-chosen female members from similar socio-economic background from different households and each center consists 4 to 10 groups.
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Each member should have to attend a 7 days compulsory group training where the member learned basic concept of Grameen banking, saving & credit policy and operational procedures of the programs. Each group member must get through group recognition along with the ability to write own name to be qualified for receiving credit.
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Loans are disbursed to use existing skills to increase income relatively in short period of time.
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Credit is provided only to the recognized members, who have passed the compulsory group training.
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Collateral security or guarantee is not needed however group guarantee is must to have a loan.
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Group work on the basis of peer pressure and peer support.
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Credit disbursement is based on 2+2+1 system, first of all 2 members who are relatively poor, will qualified for the credit. After 4 weeks other 2 members can get credit and last the chairperson can get credit only after 8 weeks of the first credit disbursement.
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Each member has to contribute 3% of credit amount in-group saving fund, which can be used on contingency need. In addition, member can deposit personal savings during center meeting voluntarily.
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Each member has to repay her installment of the 2% of principal amount on weekly basis in 50 equal installments.
