“OLD GLORY DAYS COME ALIVE”
41 year old Ambika Chitravani, a traditional weaver from the locality was also forced to try other options as her family, consisting of her husband and three children, struggled to make both ends meet with the paltry income from weaving. She had earlier availed a micro finance loan from a local micro finance company but that wasn’t enough for a start. She then approached many banks and other micro finance companies for the capital but all of them denied her citing lack of collateral. She wasn’t aware of Muthoot Microfin subsidiaries of Muthoot FinCorp and its style of operations and was wondered when an RO from the Palakkad branch approached her and explained the micro finance working pattern. In quick time, Ambika became a Muthoot Microfin client and was offered a first cycle of microfinance loan. She bought enough raw materials from the Society and worked hard for the next couple of months which yielded good results.