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It gives us an immense pleasure to present the Annual Report of Swayanshree Mahila Samabaya Samiti Ltd (SMSSL) for the year 2022-23. Registered as a cooperative SMSSL has been operating as a community based microfinance institution in the urban area of Cuttack city of Odisha state in India. SMSSL functions as a client owned, controlled and professionally managed entity and makes sincere efforts to meet the financial service needs of the poor women living in various slums of the city. Of late SMSSL has also expanded to rural areas. Under its microfinance program the cooperative has been offering a wide range of financial services exclusively for its members consisting of savings, credit, insurance, micro pension etc.
The major focus of SMSSL during the year was to strengthen further its operation and mobilize the community towards attaining better economic development through various initiatives including microfinance, microenterprises, financial literacy, health & education, social justice, women empowerment and general awareness on various issues affecting to their lives. I am proud to share the fact that despite a few challenges in its operational areas and also in the sector, SMSSL could make an impressive progress during the year in terms of its planning and delivery of need based financial services to the members. It could substantially enhance the outreach, portfolio outstanding and financial performance. By the end of March 2023, SMSSL could create a clientele base of 47,238 women members and a portfolio outstanding size of Rupees 45,34,20,481.00 The cooperative has been able to mobilize Rs. 46,29,98,955.00 as savings from its members and disburse cumulative loan amount of Rs.40,48,64,30,00.00 since its inception. While generating surplus from its operations SMSSL has distributed max. 12% of dividends to its members.
This Annual Report of 2022-23 highlights the overall progress made by SMSSL, listing the key activities undertaken and accomplished along with its credit plus initiatives taken up during the year, which have proved to be beneficial for the communities. All these have been made possible mainly because of the trust and confidence posed on us by thousands of our women members, hard works of the staffs and technical support.
So, I on behalf of SMSSL take this opportunity to thank and appreciate the contributions of each one of them for us. I hope they will continue to support us in the future so that we are able to create lasting and positive impacts in the community.
Smt. Purnima Singh
President, SMSSL
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