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SEWA Services: Investing in the Working Poor
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Bhatt describes the savings plan offered
by SEWA as an antidote to the risky yet common practice of hiding
savings in the home. Although the concept of bank-based, long-term
saving was initially incomprehensible to some rural women, "a sea
change comes over the women once they see money growing in their account....
Savings and capital give one a sense of power for the self," says
Bhatt. "Money is power, but collective strength is bigger power."
Bhatt points out this awareness of collective strength is democracy
in action. "The process of electing trade representatives and the
process of collective bargaining are the building blocks of democracy
and the seeds of political awareness among the women."
"Capital erosion can happen in an instant. A bout of ill health, riots,
curfew, earthquake, floods, the closing of factories, can all wipe
out a lifetime savings in an instant.... It is only money in the bank
that allows them to stand up on their feet again." As a means
of protection against catastrophe, SEWA has developed a group insurance
program that covers the member's life, widowhood, accidents, hospitalization,
and the loss of livelihood. "Our experience has shown us," says Bhatt,
"that just as the poor are bankable, they are insurable." |
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