Chetna Kumre is resident of Sitatola village. This village has sent percent primitive tribes (Madia-gond) population. Chetna Kumre is Chairperson of Mahavaishavi Mahila Bachat Gat in the village itself. She runs a small grocery shop at the porch of her small house. There is village around Sitatola. At the distance of 2 Km is the village with the population of 19 houses called Ghotevihir and at the distance of 4 Km there is Jambhli village of 80 houses. Her grocery shop is run on the trust of the citizens of these villages only.
In January of this year, a certified Financial education trainer, conducted a financial education program for women in Self Help Groups on behalf of National Centre for Financial Education (NCFE). Members of SHGs of Sitatola and Ghotevihir were attended this program. During the event, I came to know about ponzi schemes. I was able to understand the hidden agenda of private companies behind giving very high rate of interest in a short of time. Also, it helped me to understand the modus of operendi adopted by the private companies to acquire the attraction of common people.
A few days later a 55 year old tribal man from the same village was asked by an agent to get double money against his investment in just three years. He gave Offer to the villagers to sell out his half an acre land and he will receive two lakh fifty thousand rupees, If he invest all that amount, he will get five lakh rupees in just three years. He said he could purchase the big land and also use the remaining amount for her daughters plan the career of the daughter who is studying 12th standerd. For this purpose agent found the customer also, for purchasing his land.
When I got to know this information, I explained him the risks involved in such transactions, based on the information what I acquired during financial education program. I showed the training module to him and explain how the companies cheat with common peoples by showing attractive rate of interest. I asked question, if government is not able to provide this kind of high rate of interest, how can any private companies give this in very short period.
Following all the informtion said by me, the man cancelled a possible land sale deal and refused to make such an investment to the agent. I called the trainer and said that guidance he had given during NCFE workshop had averted a financial calamities on a poor tribal family.
