A Bank By Sex Workers
Sangini Women’s Co-operative Society bank run by sex workers is definitely a first of its kind in India. This bank is run in three tiny rooms of Kamathipura, India’s biggest red light area by prostitutes of Mumbai city, in the hope of saving up for the future. The start-up capital was provided by the Washington-based non-government organization, Population Services India (PSI). The bank has proven to be a commercial success too. Within months of the bank’s start-up, capital has grown steadily and the amount remains invested in fixed savings schemes. Earnings from the bank go partly towards paying savings interest to about 1,000 of the bank’s customers. The rest is used to pay salaries and give loans. The bank’s customers say that they are saving to build houses in their native villages and educate their children in good schools. More here.