Mumbai: Vedanta Jharsuguda’s flagship CSR initiative, the all-women Subhalaxmi Co-operative Society has crossed 4000 membership tally, becoming one of the largest rural women’s co-operative in Odisha. Incepted by Vedanta in 2008 with 10 women and a fund base of Rs. 1000, the co-op currently prides itself on a membership count of more than 4000 and a treasury worth over Rs. 3 crores.
Speaking about Vedanta’s partnership with the co-op, Mr. CN Singh, CEO – Vedanta Ltd., Jharsuguda says, “Vedanta is committed to the development of women and children in India, especially those hailing from underprivileged backgrounds and marginal communities. The journey of Subhalaxmi Co-op stands testimony to how organizations like ours and such communities can collaborate to build an institution of social good, transforming many lives along the way. It makes us immensely proud to see thousands of women who were once shy of stepping outside their houses, become entrepreneurs, taking destiny into their own hands and shaping it on their own terms.”
Subhalaxmi Co-op is engaged in promoting sustainable livelihood opportunities among rural women, creating avenues for entrepreneurship through skill development and providing financial assistance to the members for furthering their livelihood. Though dedicated efforts and positive word-of-mouth, today the co-op has amassed the support of 331 Self-Help Groups (SHGs) across72 villages of Jharsuguda. Members of the co-op own and run several micro-enterprises like fast food centers, packaged snacks, poultry farms, grocery stores, beauty parlours, tailoring centres, vegetable cultivation, etc.
Ms. Rashmilata Behra, Assistant Registrar of Cooperative Societies – Govt. of Odisha and Management In-Charge – Subhalaxmi Co-op, said, “Each member of Subhalaxmi has access to doorstep-facilities like savings, loans, knowledge and skills trainings for enterprise development. More importantly, they have the strength and collective security of thousands of women who continuously encourage and support each other to succeed.”
The co-op offers a special provision in the form of ‘Udyami Fund’ which helps dedicated entrepreneurs avail higher loan amounts for procuring machinery, raw material support, market linkage and access to specialized trainings. Subhalaxmi also has a welfare fund called ‘Mahila Kalyan Panthi’, created with contribution from all members, which helps support them during critical phases in their lives like pregnancy, matriculation of children, death in the family and so on.
Over the past decade Subhalaxmi has evolved into a micro-finance institution as well as social change-agent, earning many laurels. The co-op has undertaken various significant campaigns over the years in Jharsuguda’srural margins, like financial inclusion and social empowerment of women, mainstreaming of rural entrepreneurship, Swachh Bharat and general cleanliness drives, awareness against open-defecation, promotion of girl child’s education and safety, and many more.
Vedanta is India’s largest producer of the greenmetal, aluminium, operating a world-class 1.6 MTPA aluminium smelter and 3615 MW thermal power generation facility in Jharsuguda, Odisha. The only Indian smelter in the global ‘1 Million Tonne’ production and export club, Vedanta Jharsuguda is a leader in value-added aluminium products that find critical applications across core industries. With one of the largest technically qualified and diverse workforces in the country, the company is working towards a sustainable and greener future for all by spurring emerging applications of aluminium, the ‘Metal of the Future’
