Strength of Micro-capital: Case of Minu Rani Ghosh, Rangamati Sadar

With small capital support received from IDF, the rural poor families are able to increase their income by undertaking various income generating activities. It helps the low-income households to grow their income flows and save for future needs. Microfinance helps poor families and low income traders to prosper in their occupational businesses at their normal times and it can help them cope and rebuild their economies at the time of crisis. Integrated Development Foundation (IDF), from the beginning has been continuing to provide financial assistance to these hardships and hardworking people. With the help of this capital from IDF, many poor people have been able to free themselves from the shackles of poverty and make great changes in their socio-social conditions. Here is a case of such a success story of a mushroom grower, written by Md. Sobuj, Branch Manager of Rangamati branch. 

Minu Rani Ghosh, a 42-year old lady hails from Swarnatila area of ​​Rangamati Sadar Upazila. Her husband’s name is Shyamal Basu and they are having three children at present. Minu Rani Ghosh is a member of IDF Rangamati branch and a successful micro-entrepreneur. Although she is now self-reliant due to her willpower and strong efforts, her condition was not good at the beginning of her family life.

Due to poverty, she was neglected in society and she had to spend her days in great difficulties. Minu Rani Ghosh had to struggle to run the household with the daily earnings of her husband. Even they were not able to fulfill the education and basic needs of their children. In addition to children’s malnutrition diseases, she herself was also suffering from various diseases. She realized that if she could not change the economic condition, she would have to suffer this misery for the rest of her life. Seeing this scarcity in the family, Minu Rani Ghosh thought of doing something by herself.

In such a situation, she came to know about IDF through a neighbor. Minu Rani Ghosh learned about the activities and facilities of the IDF from her. Her husband expressed interest when he was informed about IDF’s simple terms of loan without collateral. After consulting with her husband, she went to 038/th no. center of IDF Rangamati branch and got admitted as a member on 07/11/2010 knowing all the rules and disciplines of IDF. Her borrower number is 010-038-02473.

She started thinking about how to earn money by working on a small scale. She was already growing mushrooms for herself. Then she thought that, besides meeting the food needs of the family through mushroom cultivation, it is also possible to make financial profit by selling it outside. So, she decided to grow mushrooms on a scale so that she could sell and earn profit. But initially she started on a small scale. She took a loan of BDT 40,000 from IDF Rangamati branch for the first time and cultivated 200 bags of mushrooms. By growing these, she was able to make some profit. This encouraged her to reinvest the profit money in the enterprise. 

 She continued to invest further in the business by taking more loans from IDF several times and made profits. Since joining, she has received loans for 7 times. Every time she invested a portion of profit money as well as loan money and tried to make her business bigger. Her year-wise amounts of loans were BDT. 40,000; 35,000; 60,000; 35,000; 1,00,000 and 40,000 respectively. She had repaid all loans in time and took her last loan on 30/01/2023 and the amount of loan was  BDT.1,50,000. She invested the entire amount in her mushroom project. 

Minu Rani Ghosh and her husband, both are engaged in this work and are running their project properly. With profit money they had purchased 10 decimal of land and built two houses for mushroom cultivation. Apart from producing mushrooms, they also produce mushroom seeds and sell them.  From this enterprise, her monthly income is about BDT 50,000. Besides earning her own income, she has created employment for more unemployed people in the locality by training them in mushroom cultivation. She has helped at least 15-20 women to become self-reliant by giving them hands-on training on mushroom cultivation methods and those women are also managing their families through mushroom cultivation. She received the Entrepreneurship award on Mushroom Cultivation at national level.

She expressed her gratitude to IDF and said that the loan received from the organization has contributed significantly to the development of her socio-economic condition. 

Due to poverty, Minu Rani Ghosh could not continue her studies after passing HSC despite having interest in studies. From her own unfulfilled desire, she dreams of educating her children. All of her children are studying. Her elder son is studying in 1st year (degree) in Rangamati Government College and the other children are studying in Class IX & Class IV respectively.

She also said that after becoming a member of IDF, their overall socio-economic status has gradually changed. Above all, she expressed her gratitude to IDF. Minu Rani Ghosh, a member of  IDF, is a shining example of success in defeating poverty in her locality.