It all began in 2006 when listening the story from a young woman who was paying $1 interest (monthly) for a loan of $10 that she took from a money lender for her son's medicine. To close the loan, she had to pay the entire principal of $10 at one time, which was not possible for her family of five with a joint income of $40. In her work in India, Joyasree had witnessed many such heart breaking moments. This was the motivation for Joyasree to launch Aamara Biswas (Our Trust) in 2007 to implement the Nano Finance concept in urban areas and villages of the state of Odisha, India, as well as the US-based nonprofit organization, Our Biswas (Our Belief In the Services for Women of All Societies) in 2007 to support Nano Finance programs in India and other parts of the world.
Read more from Ranu directly.
About Our Biswas