MFI Report

ICNW traces its roots back to Working Women’s Co-operative Society, which in turn was created by members of the Working Women’s Forum (India). The early initiators of WWF concentrated on credit support as an entry point to social mobilisation. To assist women entrepreneurs get out of the clutches of moneylenders and middlemen, WWF played the role of mediator between the loan members and the nationalised banks, taking responsibility for the credit discipline of its members.

Compelled by the complicated systems and bureaucratic delays of the banks that simply refused to plan for the needs of the poor, women of WWF resolved to create a system of their own that would address their credit needs and would be informal and easy to operate. Thus 2,500 leaders of the Forum with a share of Rs.20 each and seed capital of Rs.50,000 - initiated and established their own Working Women's Co-operative Society in 1981 now registered as the Indian Co-operative Network for Women (ICNW).
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