Rang De : Giving Poverty A Knock Out Punch

June 2, 2010
By Rang De Team
By Rahul Anand, Rang De Delhi Chapter Member

One day During lunch time in the office I was interacting with some friends on twitter. Then I saw a tweet by a company called Rang De; a really cool name, it had a touch of patriotism with a dash of rebellion to change the system. I checked the link in the tweet and landed at http://rangde.org/, one of India’s 1st peer to peer micro lending platforms.

I registered on the portal, the site has an instant appeal to it with their message to Knock Out Poverty , just couldn’t help but press the ‘Invest Now’ link there were two options Microcredit and Education. In Microcredit there are six states to choose from, where in one can choose the category of micro enterprise for which one wants and also according to the needs of the person.

So, I invested 1000 bucks to give Chanda Nasker of West Bengal for her basket weaving business. The coolest thing about the whole interface is that one can virtually connect to people in need in some remote parts of the country, and invest in the change they want to bring in their lives. But frankly, after doing that I wasn’t sure that the money would really reach her. But nevertheless, I had a sense of satisfaction of doing something good even though I wasn’t completely sure the good I was promised would really happen.

After 2 days I get a mail from Rang De that my social investment has been disbursed by Sripur Swami Vivekananda Society (SSVWS), field partner of Rang De in West Bengal to Chanda Nasker and in around 10 days I get a 20 Rs/- back in my RangDe account. Apparently, she paid Rs 20 of the thousand rupees she took from Rang De for her enterprise.

RangDe.Org is a truly innovative initiative, the personal connect in this endeavor is unparalleled plus one gets 2% per annum return on the investment. Furthermore, the interests that the borrowers of RangDe pay are one of lowest in the country even in the MFI sector.

Rang De, true to it’s name is trying to paint a picture where there’s no poverty in India, I am really glad to contribute to this awesome social enterprise in my own small way.

So What are you doing?? Either make a social investment or reblog this post using the reblog button below.

Rahul Anand is a member of the Rang De Delhi Chapter and a blogger with The Better India, which is a blog that attempts to bring out those happy stories, those unsung heroes and heroines, those small good deeds, and showcase them to the world. He has kindly blogged about Rang De on the Acumen Fund Blog. Here is the original post.

Rang De is transitioning from a charitable trust to a Non Banking Financial Company. Check out our brand new peer-to-peer lending platform rangde.in

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