Rang De’s ‘Penny Wise Project’

January 10, 2013
By Rang De Team

Mahindra ‘Spark the Rise’ is a unique online platform for change-makers across India to connect, collaborate, exchange ideas and to compete for monthly grants from Mahindra. Projects known as Sparks are evaluated by public and an expert Jury on Impact, Feasibility and Innovation and each month, 12 Sparks receive grants from Mahindra. Rang De’s official Spark is ‘The Penny Wise Project’ and this is why we believe that our Spark should rise!

Contrary to the adage ‘Penny Wise and Pound foolish’ Rang De’s project is called ‘Penny Wise’. We believe that if we cannot manage small sums of money, then the question of thousands doesn’t come into the picture …right?

The same applies to our borrowers. Entrepreneurship was not something many of them aspired for. But they got into it because of necessity. Some have realised that they have a natural flair for it while others dabble with several activities to make ends meet.

In the last 5 years, we have interacted with thousands of micro-entrepreneurs who have received loans from Rang De. Business is almost in their gut now, many have been running it for years, most of them never had access to any formal education.

What if a little bit of business gyan and managing money can help them save more money. What if it can help them consciously say ‘NO’ to a loan when they don’t need one, what if it can help them make wise financial decisions and ensure that their children have a bright future.

That’s precisely the objective of ‘The Penny Wise Project’. We believe financial discipline begins with those small pennies, not just for our entrepreneurs but for everyone!

The impact of Penny Wise can be far reaching. It can help create role models within the community that will help other aspiring women entrepreneurs to become well informed business women in future thus creating more jobs in rural India.

The future of social investing is here. Experience our new platform: rangde.in