Tata Trusts supports microcredit initiative to fight poverty

Tata Trusts today said it has extended its support for a period of four years to Rang De-- an internet-driven micro-lending platform, to fight poverty.
The initiative aims to offer affordable micro-credit solutions to nearly a quarter of a million families, over the next five years, it said.
They will be given access to improved livelihoods, education, health and sanitation facilities, it said in a release.
Tata Trusts said during the first year, Rang De will scale up the team and increase their crowd-funding network with an additional 12,000 social investors.
"Since our partnership fuels entrepreneurship at the very grassroot level in the country, we are confident that this will make a difference to the social sector. It will help improve livelihoods, education, health and sanitation facilities, through affordable solutions," Tata Trusts Development Manager Ganesh Neelam said.

Designed as a non-profit social business, Rang De has raised over 38,000 loans totalling over Rs 40 crores, funded by over 8000 individual "social investors" and 25 plus corporate partners.
"We are very excited and grateful to have Tata Trusts guidance and support in our mission to fight poverty in India. We plan to do this by bringing over 100 corporates and 1.5 lakh new socially conscious Indians to play the role of social investors over the next five years," Rang De Co-founder and CEO Ramakrishna N K said.
"We are expanding our team and inviting stellar professionals across technology, marketing and communications to power our growth," he added.