MILKING BUFFALO MICRO LOAN PROJECT - PHASE I

AIMS India Foundation gave micro-loan of Rs.40,000- for purchase of 5 buffaloes for 5 ladies.Each lady received Rs.8000 from AIMS India for one buffalo purchase 5 milking buffaloes were purchased and given to 5 ladies.This is not a free donation, but a micro loan without interest.
Every month, each for the 5 ladies will repay Rs.1000. Mrs Alamelu Bannan( Managing Trustee of RWDT, Salem) will collect Rs. 5000 totally and send Check/ DD of Rs.5000 to AIMS India Chennai, India. The micro loan  repayment will be completed in eight months (Rs.5000 x 8= Rs.40,000).

Amount of milk produced  is = about 5-6 liters/ day
Selling price  of milk = Rs.25 / liter
Per day- amount for selling price for five liters = Rs.125 (Rs.25 x 5)
Per day -Cost of cattle feed (punnakku, etc) = Rs. 50
Earnings per day =  Rs. 75 (Rs.125 - Rs.50)
Earnings for one month( Rs. 75 x 30) = Rs. 2250

Photos of the buffalo project can be viewed from the below link:

 http://new.aimsindia.net/index.php?set_albumName=album91&option=com_gallery&Itemid=29&include=view_album.php

Comments from Arun Sethupathy, USA regarding this Project:

 Hi AIMS members:
I spoke with Alamelu to discuss about the Buffalo project.All is going well as planned. She has sent to Joseph - loan repayment  on time for October and November

Mrs. Alamelu Bannan said:

• All the five ladies are very happy with their milking buffalo.

• None of them had previously owned a buffalo.

• This is thier first ownership of buffalo

• But they  had previously worked in local big farms as farm laborers taking care of buffaloes and cows and so knew how to feed and milk buffaloes.

• So the rearing of buffaloes is not new for them

• All buffaloes are doing good and healthy.

• Though it was expected to give 5-6 liters per day, they are yielding 7 liters per day

• They spend rs. 50 per day for punnakku feed

• They dont have to go door to door to sell the milk.

• Selling has been easy because of the Aavin Co-operative Milk Society in their village.

• Morning and evening, Aavin Milk Coperative Society purchases the milk from them- on all days

• Selling price is Rs. 24 per liter ( rs. 24 x 7lt= rs.168)

• Per day they earn  Rs.168- rs.50= Rs.118

• One month they earn rs. 118 x 30= Rs. 3540

• They reassured that Repaying Rs.1000 every month to AIMS India -Chennai is not going to be a problem.

The ladies are happy and thankful for this new opportunity for income generation.
Thank you to AIMS India for the support with Milking buffalo project
Best regards,
Aruna
06 Dec 2009 

Project Closure comment from Arun Sethupathy, USA regarding this Project on 22nd May 2010:

Dear AIMS India team,

here is update for Milking Buffalo Microloan Project -RWDT Phase One

In Sep 2009, AIMS India gave Rs.40,000 as interest free micro-loan to five RWDT  ladies (Salem,India)

This was for purchase of 5 milking buffaloes,one for each.Each lady repaid Rs.1000 every month for past eights months .

Start date of repayment=  Oct 25,2009
End date of Repayment=  May 25, 2010.

Mrs. Alamelu ,Managing Trustee of RWDT collected Rs.1000/ month, from each of the 5 ladies.
She sent Rs.5000 (Rs.1000 x 5 ladies) every month to AIMS India Chennai
Rs.5000 x 8 months= rs.40,000
LOAN AMOUNT= rs.40,000
REPAYMENT AMOUNT= rs.40,000

The Micro loan  repayment is the following:
 
Oct 25,2009
RWDT repaid Rs.5000 (Rs.1000 x 5)

Nov 25, 2009
RWDT repaid Rs.5000( Rs.1000 x 5 ladies)

Dec 25,2009
RWDT repaid Rs.5000( Rs.1000 x 5 ladies)

Jan 25,2010
RWDT repaid Rs.5000( Rs.1000 x 5 ladies)

Feb 25,2010
RWDT repaid Rs.5000( Rs.1000 x 5 ladies)

March 25,2010
RWDT repaid Rs.5000( Rs.1000 x 5 ladies)

April 25,2010
RWDT repaid Rs.5000( Rs.1000 x 5 ladies)

May 25, 2010
RWDT repaid Rs.5000(Rs.1000x 5 ladies)

This concludes the  repayment of micro loan of Rs.40,000 for RWDT milking Buffalo project-Phase One

Thanks to AIMS India Foundation for your kind support.

Best regards
Aruna Sethupathi