A new feather to the cap was added by Human Welfare Foundation TS-AP Chapter on February 26, 2016. HWF started Andhra Pradesh’s First Interest Free Micro Finance Society.
HWF opened up Andhra Pradesh’s first branch in Guntur City on February 26, 2016. Inaugurating and speaking at the occasion Chief Guest Mr. Abdul Jabbar Siddiqui raised the concerns of how small time businessmen/ vendors on streets are the marginalized. He highlighted on how street vending is seen as a thriving business given their capacity to adapt to the changing demands in the society. He spoke about how several factors contribute to this situation, prime among them being access to formal credit and mentioned that financial inclusion and inclusive growth can together generate self-employment opportunities and alleviate poverty and unemployment. He appealed to the citizens of Guntur to be a part of Khidmat which gives easy access to formal credit and help each other through deposits and lending schemes of Khidmat.
The other guest on the occasion Mr. Hidayath Ali, Minorities Finance Corporation of Andhra Pradesh also spoke on how Interest Free Micro Financing will help the small time businessmen in turn uplifting their social status can bring in a change in the society. He further added that this contribution by Human Welfare Foundation can help businessmen and help building the dream project “Swarna Andhra Pradesh”.
The Guest of Honor at the occasion Mr. Shabbir Ahmed, President – Welfare Party of India spoke on how the interest loan schemes by private bankers is affecting the present youth and the society and in large the global market. He mentioned how the loan schemes is luring people and how rich is becoming richer and the poor going beyond poverty line. He appealed to the audiences to shun these schemes by private bankers and join hand in nation development society – Khidmat.
Mr. Asad Umri, Chief Promoter and Branch Managing Committee of Khidmat, welcomed the guest and highlighted the present condition of Guntur and the difficulties of vendors and small businessmen. He welcomed each and every needy person irrespective of caste, creed and gender to become a member of Khidmat and help themselves by building their dreams and businesses.
