Profile of WSDS-initiate
WSDS-initiate is a development orient MFI, receiving donor funding with an aim of alleviating the rural poor. It started as a development support organization and later reinstated as a microfinance institution to reach the poor, especially in the remote and less developed regions of north eastern India. In the last one decade since its inception, WSDS-initiate has emerged as one of the leading microfinance institutes of Manipur. It has evolved itself as a financially sustainable organisation achieving irrefutable merits in the rural areas, especially among women. In the last 15years or so it has seen maturity as well as sophistication with the emphasis on more diverse financial products and services to suit the needs of the rural poor women, who tend to be marginalise in the society.
Its administrative office is located at Gollut Gens, New Lambulane, Imphal-East with its registered office at Motbung in Senapati District. It primarily operates in those areas where the mainstream approaches and institutions often fail to reach. It is a relatively young organization established in the year 1989 under the Societies Registration Act, 1860 (ACTTXXI of 1860), under the initiative and guidance of Mr. Lamkhomang Kipgen with the assistance of like-minded educated and resolute youths for the concerted effort towards augmenting the causes of the weaker and marginalised section of the society whose legitimate rights were being denied and envisage making this section of society tread a different ground.
On 26th July, 1989, the name was altered from WSDS and registered under WSDS-Institute of Innovative Technology Transfer and Environment under the provision of Section 8 of the Manipur Societies Regulation Act, 1989. This change was created to enhance and broaden the scope of its mission to achieve well organised, self sufficient vibrant society and complement with the constantly increasing adverse scenario created by globalist fast changing liberal market among the rural poor, especially women in north east region. WSDS-initiate assigns towards building capacity-economic, socio-political among the remotest section of the societies. It visualises a society with maximum participation from and contributions by weaker sections.
WSDS-initiate satisfies the following financial needs of its clients:
- Asset Creation
- Consumption smoothening
- Start Up Capital
- Working Capital.
In so being allied with WSDS-initiate clients benefit the following:
- Quick and timely servicing of financial products/ services offered to the clients.
- Easy loan procedures-door to door delivery with minimum formalities.
- Client’s perception of WSDS-initiate as an honest and transparent organization.
Thus, to combat poverty the vision of the WSDS-initiate is
“To become the leading financial service provider in North Eastern region by 2019”, with a Mission
“To make a positive impact on the lives of the underserved by providing need based, affordable financial services”.
Legal Status: Registered under the Society registration Act of 1860 (ACTTXXI of 1860)
Various development initiatives and efforts taken by WSDS-initiate primarily focus on institution building at the village level and capacity building as an ongoing process through diverse human and institutional development endeavours. Some of its objectives towards achieving its goals are enumerated below:
Objectives of the Managing Committee of WSDS:
- To take up development works among the ST/SC/OBC & women including the disadvantaged sections of Society with special focus on rural areas.
- To create self-employment opportunities
- To enhance judicious management of available resources
- To address rural health and education
- To promote gender equity and women empowerment through income generating activities in rural areas
- To build linkages with the mindset of like minded organisations/institutions.
- To raise funds through grants, subsidies, soft loans, financial Institutions, banks, International Banks or External Commercial Borrowing (ECB), Donations etc.
Objectives of WSDS-Initiate
- To undertake any income generating programmes, capacity building and institutional development programmes, industrial development initiatives in rural areas.
- To work towards promotion and protection of environment conserving programmes such as recycling of resources, watershed management and management of natural resources etc.
- To act as microfinance institutions and promote, facilitate Micro-Finance programmes for the villages devoid of credit facilities in productive enterprise and enhance the livelihood of the society who have little or no access to banking system.
- To create needs of the clientele at an affordable services at reasonable price
- High value on customer care
- Base on integrity, transparency
- Accelerate the process of learning
- Building socio-economic and political capabilities of the underprivileged class among the rural and remotest sections of the society.
- To introduce and incorporate innovative technology in rural areas.
Role and Function: Provision of financial services which include the provision of credit, savings, insurance services and pension benefits. While WSDS-initiate will directly extend credit services, it would collaborate with other agencies for extending savings and insurance.