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Our Bureau

Chennai , May 28

The Mahasemam Trust, a federation of women's groups, which takes credit to the grass roots, has tied up with Modular Corp (M) Sdn Bhd for a smart card programme.

The Madurai-based Mahasemam Trust has more than one lakh members, mostly women, and has disbursed over Rs 100 crore in micro finance. Dr N. Sethuraman, Founder-President, Mahasemam Trust, said that every day 1,000 women join up and this year about Rs 300 crore will be disbursed.

He said the decision to introduce smart cards was taken because of the volume of work involved.

Mr Ibrahim Hussain, Group Chairman, Modular Corp (M) Sdn Bhd, said the micro finance smart card provides a secure medium to manage the collection and distribution of micro loans.

He said thecards are issued to the members of the Mahasemam Trust and will interface with handheld devices carried by all the field officers. All payments will be immediately updated on the card as well as the handheld devices, the information which is stored on these devices will be downloaded on a daily basis to a central server, he said.

More Stories on : Rural Development | Credit Cards & Debit Cards | Tamil Nadu

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