On 3rd November 2014, I met the Rang De UK Chapter President Rohit Parakh and Lambeth Labour Councillor Neil Sabharwal in the House of Commons.
Rohit and Neil came to give me an overview on Rang De which, its story so far and how it plans to serve the poor in India through its UK Chapter through a sustainable model based on microcredit, peer-to-peer lending and crowdfunding.
Rang De is a non-profit organization committed to fighting poverty by providing access to affordable micro loans to underserved communities in India working on a model of microcredit, peer-to-peer lending and crowdfunding. It has so far facilitated £2.52million in loans to micro-entrepreneurs in India with loan sizes generally ranging between £50 to £150, with a maximum loan interest rate of 10%. Each individual can contribute my making a loan of Rs 100 onwards (~£1). The loan repayment rate so far on the loans has been 99.75%.
Rang De UK Chapter is performing a major outreach program in the next few months to spread awareness on its goals. To get in touch please reach out to firstname.lastname@example.org or check their website at www.rangde.org.