Empowering Women in Finance with Velicham Finance: Closing the Gender Wealth Gap

Empowering Women in Finance with Velicham Finance: Closing the Gender Wealth Gap

In today’s evolving financial landscape, bridging the gender wealth gap is paramount for creating a more inclusive and equitable society. At Velicham Finance, we recognize the importance of empowering women in finance and championing their journey towards financial independence.

Empowering Women Through Access to Finance

Access to financial resources is a crucial stepping stone towards economic empowerment for women. At Velicham Finance, we are committed to providing women with access to affordable and flexible financial solutions tailored to their unique needs and aspirations. Whether it’s funding entrepreneurship ventures, supporting higher education, or investing in personal growth, we strive to be a trusted partner in women’s financial journeys.

Breaking Barriers with Financial Education

Financial literacy plays a pivotal role in empowering women to make informed decisions about their finances. Through our comprehensive financial education programs, we equip women with the knowledge and skills needed to navigate the complexities of personal finance, investment strategies, and wealth management. By demystifying financial concepts and fostering a culture of financial independence, we empower women to take control of their financial future with confidence.

Creating Opportunities for Economic Empowerment

At Velicham Finance, we believe that economic empowerment is a catalyst for social change. By providing women with access to capital and resources, we enable them to pursue their entrepreneurial ambitions, advance in their careers, and contribute meaningfully to the economy. Through strategic partnerships and initiatives, we strive to create a supportive ecosystem that fosters women’s economic empowerment and promotes gender equality in finance.

Closing Thoughts

Empowering women in finance is not just a matter of equality; it’s a fundamental principle of social justice and economic prosperity. At Velicham Finance, we are committed to being a catalyst for change by empowering women to achieve financial independence, break barriers, and realize their full potential. Together, we can close the gender wealth gap and build a brighter, more inclusive future for all. Join us in empowering women in finance and shaping a more equitable world.

How Velicham Is Helping People

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Velicham Finance is a Non-Banking Financial Company (NBFC), solely dedicated to improving the livelihoods in rural communities and most importantly, providing them with the financial backbone for sustained growth and economic independence.

We specifically reach out to the unbanked sectors of our communities and accelerate their economical growth and expand their financial horizons, by empowering them financially. At Velicham, we take immense pride in galvanising our marginalised communities, not just via direct funding but also by endowing them with financial and economic knowledge and skills. We are firm believers in bridging the economic inequality in our nation and that a flourishing economy and greater opportunities will lead to unrivalled growth in other vital sectors.

Our company’s ethos and mission values takes their roots from its parent organization, Bharathi Women’s Development Centre (BWDC), a leading Indian NGO engaged in multifarious social and development activities. BWDC has made a tremendous impact at the grass root level, transforming the lives of thousands of Indian Citizens from underprivileged communities over the past few decades. The organization relentlessly strives to intensify and amplify its humanitarian efforts, with Velicham at the forefront, as one of its leading specialized avenues.

With a skilled and qualified workforce of over 150 staff members and four branches located in Tamilnadu and Pondicherry, Velicham has already bolstered and enriched the lives of 36000 beneficiaries. The remarkable growth of Velicham over such a short span of time, is testament to our unwavering commitment to our values and our clients. Our ‘0’ percent risk in portfolio is the ultimate embodiment of our motto and pledge, towards transforming the socio-economic conditions of the rural people.

Velicham’s ever growing list of beneficiaries from diverse backgrounds, include women entrepreneurs, agriculturists, artisans, self-employed labourers, and traders. One of our biggest success stories was Ms Muthulakshmi, a 42 year old widowed single mother of two children from the Arivizhimangalam village of Thiruvarur district. When Ms Muthulakshmi approached us she was distraught and at a loss. She had been toiling away relentlessly, working day and night at her self-owned petty shop and rearing her backyard poultry. Yet she was barely able to make ends meet. As the sole breadwinner of her household, couples with the responsibility of raising up both her children single handedly, the strain on her was immense. Her second son was about to enroll college and she had no idea how to pay for the admission fees. She was demoralised since she was doing everything she could and yet to no avail. This is where Velicham stepped in to ease the burden and maximise the rewards of Ms Muthulakshmi’s hard work. By funding her, Ms Muthulakshmi was able to expand her business and realise her long-coveted dream of enrolling her son in college. With Velicham intervention, Ms Muthulakshmi’s business expanded and her income was finally matching her level of exertion and endeavour. Ms Muthulakshmi is extremely grateful to Velicham for their guidance and help in her desperate time of need and helping her attain economic independence. She claims she’s never felt in control and in charge of her life, as she does right now.

Ms Sundharavalli is another one of our fond beneficiaries whom we’ll always recall with a smile. An animal lover, she was extremely passionate about them and absolutely loved spending time with them. It wasn’t until our loan that Ms Sundharavalli fulfilled her life-long dream of owning her own cow. Now she has a steady source of income from the dairy yields of her cow but also her life is all the more colourful and gratifying.

Another prime example of Velicham fostering financial innovation for the rural communities would be Ms Amutha. Ms Amutha is a young mother of two, who was involved in the plastic sales business. Unfortunately a lack of investment meant that meant that the business was floundering and on the verge of collapsing. However, with the injection of funds from Velicham at the nick of time, her business was given a lifeline, stabilising her business. “This is the only business we know” claimed Ms Amutha as she thanked Velicham profusely, for pushing her closer to attaining a scalable and a profitable business.

Our thousands of success stories and our unfaltering drive towards transforming the lives of our clients one at a time, will eventually see us attaining our ultimate goal – empowering the rural communities and providing greater opportunities and prospects. We dream of an India where the rural areas are economically independent and its inhabitants, fully exploiting their entrepreneurial skills, much to the benefit of the Indian economy as a whole.

Social Service By Velicham

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Velicham is a firm advocate of social growth being the driving factor behind a nation’s holistic and accelerated growth. Whilst economical development is the main reason for the overall progress of India, the interdependence between social and economic growth should not be overlooked.

Velicham is a proud exponent of the social progress initiative in India. We take immense pride in our social services and our exclusive policies and projects, solely dedicated to enhancing the social, cultural and sanitary welfare of rural communities.All of Velicham’s loans are exclusively directed to poor women with the aim of enhancing sanitation, education and lifestyle development in rural areas, with eco-friendly products loans being a notable feature too.

Health and Sanitation are two fields which pose the greatest threat to the welfare of our underprivileged communities. Velicham assigns high priority to health and sanitation in particular, and has built over 1250 household toilets through sanitation loans. Not only does Velicham provide financial backing, it also provides on site support to ensure that the toilets fulfil sanitary requirements and are up to the required standards. Velicham also provides supplementary awareness and guidance training sessions on hygienic practice, designed to create behavioral changes towards safe sanitation. Our loans have also played a significant role in boosting the overall sanitation standards of the society, with loans being provided to sanitary napkin manufacturing platforms, led by women for instance.

Velicham’s health and awareness camps has greatly helped the sector of our rural populace who have been afflicted with diabetic and cardiovascular conditions in particular. These two chronic illnesses tend to be major problems in our underprivileged sectors of our society – with individuals lacking the financial means for adequate medical treatment. Velicham, realizes the importance of tackling these chronic health issues at their roots for the betterment of the rural communities. Our camps educate individuals on preventive measures, risk factors and the importance of leading healthy lifestyles, to avert the onset of these diseases and to improve one’s general well-being.

Velichamalso strives to educate its clients on financial literacy by providing guidance on book maintenance, family budget and saving and thrift management. We place key emphasis on empowering women, who tend to be exploited for their lack of financial knowledge. Our programs help significantly in enhancing our rural population’s financial literacy and security. Our financial counselling has benefited a great deal of the rural masses with our guidance broadening the perspectives of our clients, and setting them on the right path towards financial independence and growth.

The 2018 Gaja cyclone had a devastating effect on the rural masses in particular, with 45 people and thousands of cattle dying, 1000 transformers and 201 electric substations and 56 000 hectares of crops and trees being destroyed. Through our Gaja cyclone relief program, Velicham provided aid and support during different phases of recovery – via immediate relief supplies promptly after the cyclone, and income generation supplies and loans providing sustained support to the people affected by Gaja.

Our value added social services have played a key role in furthering the social, sanitary and financial welfare of various underprivileged communities, and we hope to continue our good work. We aim to intensify our efforts and expand our array of social services, to reach out and aid more disadvantaged communities, for the collective growth of our nation.

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