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SOCION ECONOMIC ACTION TRUST (SEAT) ANNUAL REPORT 1st April 2016-31st March 2017 “We served the underserved community for economic livelihood and financial stability.” SOCIO ECONOMIC ACTION TRUST KHARAR SHONGZAN (SEAT), HUNGPUNG, DISTRICT MANIPUR. Email:[email protected] Website: seatukhrul.com
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SOCION ECONOMIC ACTION TRUST (SEAT) ANNUAL REPORT

1st April 2016-31st March 2017

“We served the underserved community for economic livelihood and financial stability.”

SOCIO ECONOMIC ACTION TRUST KHARAR SHONGZAN (SEAT), HUNGPUNG, DISTRICT MANIPUR.

Email:[email protected] Website: seatukhrul.com

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SL.NO CONTENTS PAGE NO

1 Brief Introduction to the Organization 3-4

2 Report on training activities 5-7

3 Board of Trustee profile 8

5 Financial Statement 9-11

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BRIEF INTRODUCTION TO THE ORGAIZATION

History, Organisational and management structure, Human Resource

Socio economic action Trust (SEAT) was initiated by VVD-MF. VVD initiated microfinance

activities under the Caption “Poor women Talent Search Credit program” in the year 2007. The microfinance operation of VVD does not have a separate institutional form,

however, the microfinance program has a dedicated board and staff members for the

governance and administration of the microfinance program respectively. Also, the

microfinance program known as VVD-MF maintains separate accounts and financial reporting for its program reflecting clarity in program focus and its further development. VVD

Microfinance program is operating in partnership with Ananya Inclusive financial Growth,Pvt.

Ltd. Ahmedabad, Friends of Women’s World Banking(FWWB-India), Basix(IGS) Nedfi and

Cordaid , Netherlands.

The Executive committee of VVD made a resolution for separate registration of VVD-MF

programe for scaling up the operation. Accordingly an application to the Sub-registrar for

registration in the name of SEAT was made. The trust deed was signed by both Executive

committee of VVD & Board of Trustees in the presence of the Sub- Registrar on 11th Aug.2015.

Since then VVD(MF) have been preparing and obtaining the necessary documents and in

want of all those legal related documents couldn`t spin off as planned. As SEAT has acquired all the necessary legal characteristics and the change of legal entity become a necessity

decided to complete the formalization on 30th Sept. 2019 . Accordingly final agreement was

signed between VVD & Seat on 1st oct.2019. Henceforth all the required liabilities & Assets of

VVD/MF transfer to SEAT officially.

The mission statement has been defined as:

“To provide financial and related capacitating services for enhancing livelihood of

the underserved community (especially women) of hills and valley of Manipur”

The vision statement has been defined as:

“To become a sustainable MFI providing microfinance services in an integrated

manner”

Registration status:

1. Date of establishment :11th Aug.2015

2. Registration no. and date :4/15 of 2015

3. Tan : SHLS09348D

4. Permanent Account Number (PAN) : AAQTS7577N

5. Others : 12 AA(I)(b) of the income Tax Act,1961 & 80 G

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WHAT SEAT DO-:

FIANACIAL SERVICES:

Micro Credit- We provide Micro Credit services to women’s SHG and semi skill entrepreneur to up to

their business and for other income generating activities without any collateral security.

Saving- It is our basic responsibility to inculcate the habit of saving money within themselves and

encourage for inter loan in group and building up their corpus fund.

Operating Bank Account- We provide helping hand to these poor rural women in opening bank account

depositing their savings, withdrawal and other related banking services.

Insurance lingkage- We provide insurance linkage to all our women clients under LIC New Jeevan

Mangal and Bhagya Laxmi.

CAPACITATING SERVICES:

Financial literacy Campaign- We financial campaign on the importance financial literacy and difference

human wants and needs. We also try to inculcate in them the habit of smart saving making the right

investment choices.

Book Keeping and Record Keeping- We organize training on books of accounts so that all our women are

aware of the basic knowledge’s of maintaining books and accounts.

Accounting- Most of our women clients’ members are minimally educated or illiterate. We take it as

mission to educate them on how to maintain book of account like Cash book, passbook, receipts and

payments, voucher, ledgers, etc.

Household Management Campaign- We educate all of our women clients about the importance of having

family budget and financial planning for addressing various household needs. They are aware of vicious

cycle of poverty and the way and means to come out- from the clutches of poverty.

Group Management Training- Training are organized at SHG levels on SHG management characteristics,

inter loaning among the group members, building group fund and maintenance accounts at group level.

Leadership Training- Leadership Training is imparted so that the group members are well aware of the

responsibility and work together as team rather than an individual. In this training emphasize given to the

team leader so that they know how to motivate their group and have a strong relation between the group

members.

Animal Husbandry Training- We educate our clients on how to rear their livestock’s and generate income

for generating for generating purposes.

Business management Training- Business management training is imparted to our women entrepreneurs

so that they could have the right business ethics, skill and knowledge on how to about their business

generating income and sustainability.

CLEAN ENERGY INITIATIVE:

Woodstove- We have introduce smokeless stove under Clean Energy campaign as an alternative

arrangement to replace the traditional Chulha for cooking by initiating women about the health hazard cause

by smoke emitting out of using hearth and firewood while cooking.

Solar Energy- Poor outreached of electricity and the other medium of lighting hinder the development

process affecting the livelihoods activities. Keeping the pretext in view, we have promoting the use solar

lighting systems in village and rural areas.

Clean water initiative- We synthesize the local people by organizing program about the importance of

Drinking water and how contaminated water leads many water borne diseases.

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REPORT ON TRAINING ACTIVITIES

REPORT ON FINANCIAL EDUCATION AT VVD TRAINING CENTER

Date: 8.02.17

RESOURCE PERSON: BOONSON ZINGKHAI (MIS Account Manager)

As nowadays various schemes and finance support especially for female and women are implemented as per

the situation, most of the schemes are not notice, its procedure and importance should be oriented.

Maintenance of record of monthly income and expenditure as home maker is very important, apart from it

financial literacy like scheme from banks and other beneficial savings were also imparted in the training. Thirty

two (32) members attend training from SHG of Villages who is supposed to maintain record and other bank

related work from SHG. Maintenance of saving account its beneficial were also imparted as due to lack of bank

orientation on it most of the woman are ignorant of it and as such maintenance of bank account becomes a

burden if it is not maintain well.

Participants were taught basic books of account relevant to day to day transaction which is related to SHG.

There was 30minutes practical session in which participants were given basic transaction task to do to make

sure they learn better and raise questions of which they do not understand.

The participants were delighted to have gained knowledge of basic account maintenance which will benefit

them and their SHG in the long run.

The training came to an end with resource person giving few tips on account maintenance and a word of

prayer from AS Leishinao from Mashunrin SHG .

.

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REPORT ON BAKERY TRAINING AT TASHAR VILLAGE

DATE: 22.02.17

RESOURCE PERSON: RINCHUI REPHUNG

As bakery food item is often the most sought after food item for manual worker student office goer and

cultivator. The demand is also increasing day by day. Keeping in mind the ever increasing demand and also

providing minimal jobs to the jobless 2 days training on bakery was organized at Tashar Village. The training is

attended by 30 women young and aspiring women.

The training involved making of various bakery items like biscuits, cookies, cakes, etc. It lasted for two todays

and almost all aspects bakery were covered.

The major intend of training is to encourage young unemployed women to take up bakery as an alternate

source of income. The trainees were happy to have learned new skills and were eager to take Bakery back

home.

REPORT ON BOOK KEEPING TRAINING FOR SHG AT VVD TRAINING CENTER

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DATE: 28.03.2017

RESOURCE PERSON: YUIMI KAMKARA (Ukhrul Branch Manager)

As we all know that sound financial transaction is one of the basic sign of a good institution the needs for

understanding proper channels and ways of transaction has become necessary for all the SHG’s . In line with

the above cited reason one day booking keeping training was organized at VVD training hall. A total of 32

members from 11 SHG took part in the said training

Participants were taught basic books of account relevant to day to day transaction which is related to SHG.

There was 30minutes practical session in which participants were given basic transaction task to do to make

sure they learn better and raise questions of which they do not understand.

The participants were delighted to have gained knowledge of basic account maintenance which will benefit

them and their SHG in the long run.

The training came to an end with resource person giving few tips on account maintenance and a word of

prayer from Joylimoon from Kahor SHG

OUR BOARD MEMBERS

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S

L

Name Age Designation Educational Qualification Experience Name of Organization

associated with

1

MR.TENNYSON

KAZINGMEI

68

Managing Trustee

Graduate, Dip. Social Dev. & Social Work

Social works

Socio Economic Action

Trust

2 MR. K. REISANGMI 39 Trustee

B.Com 5 years as accountant in Credit Union

Entrepreneur

3 MRS. K NAGANI 56 Trustee Graduate ,Diploma in journalism

Social services

VVD

4 MR. K. TUISEM

K.

49 Trustee Graduate , 1 yr Diploma in Small Business Management

Micro finance/sales and marketing

Social worker

5 MRS.

THINGREIWON

34 Trustee MA Social Services

Entrepreneur

6 REV. SOMI

KASOMWOSHI

61

Trustee

Divinity in Theology 7 years as community developer, 10 years as social worker

Ukhrul town Baptist Church

7 MRS. RINCHUIPHY

RAGUI

33 Trustee

M.Com Social worker, Branch Manager UBI

United Bank of India

8 MR.YUIREIHOR

KHALENG

41 CEO/Ma Manager

Graduate Social worker SEAT

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