Life On Wheels - 'Let then own what they owe' is the second project that was undertaken by SRCC-SIFE in the year 2008-09.
Most rickshaw pullers do not own the rickshaw that they pull. They pay a daily rent of anything between Rs 30-50 for years together. At this rate, over the years, they end up paying an amount several times the cost of a new rickshaw!
If they were to own the rickshaws, they would save a substantial part of their income and thus hope to raise their standard of living over time. Another problem that we noticed was the fact that they dint possess licences, thus making the very profession that they practise, technically illegal!
To enable the rickshaw pullers to own the rickshaws, the SIFE team arranged for loans to be given by Punjab National Bank to them. The rickshaws which will be provided to them are specially designed. The SIFE team has also obtained permission from the MCD (Municipal Corporation of Delhi) for 100 licences for this pilot project.
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SIFE can also help these rickshaw pullers in payment of instalments by creating a mechanism wherein certain dates will be fixed when the rickshaw pullers can deposit the amount with SIFE which will subsequently deposit this amount with the bank, thereby doing away with any possibility of exploitation of rickshaw pullers by the bank authorities.
I think u guys r doing a great job!!keep up d good work..
It is commendable that the young minds of the country are getting involved in such enterprises. The future of India definitely seems brighter!!
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