Rural Finance
Improving access to formal banking and credit services for farming households in unbanked areas.
WHAT IS AN IVCS?
An Integrated Village Cooperative Society Ltd. (IVCS) is a registered community-based organization registered as a cooperative society under the Meghalaya Cooperative Societies Act 2015, serving as a platform that offers various financial and essential services, including thrift, credit, and intermediation, alongside engaging in market access initiatives and income-generating activities to enhance welfare and livelihoods.
IVCS are village cooperative societies whose primary role is to provide thrift, credit and other financial services to members.
IVCS are growth hubs that engage in diverse economic activities such as supplying agricultural inputs, aggregating and marketing produce, renting farm tools, promoting animal husbandry, and establishing retail outlets for village supplies.
IVCS are modelled to operate on a self-sustaining mode – a person can become member of IVCS by purchasing at least one share.
IVCS can act as a service provider through which government, NGOs etc. can reach a village. They can also act as banking correspondents for various banks and financial institutions.
AT A GLANCE
- Formation of 500 IVCS.
- 90,000 IVCS members are actively using financial services, either from IVCS or facilitated from banks.
- Average combined share capital and savings per household with IVCS exceeds Rs 10,000.
- Total membership at 1,20,000 members.
- 70% of the IVCS are financially sustainable and have loan recovery rates of at least 95%.
- 500 Integrated Village Cooperative Societies in 18 Blocks across 11 Districts.
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COMPONENT BUDGET
REPRESENTATION OF IVCS ACROSS MEGHALAYA
As of February 2025
KEY PERFORMANCE INDICATORS
500
Integrated Village Cooperative Societies Ltd. (IVCS) formed and registered
67,500
Households covered in total 1420 villages across Meghalaya
200
IVCS serving as banking correspondents
92,358
Total Shareholders across all IVCS
71,704
Total savings deposit accounts opened by members
INR4.4Cr.
Total share capital mobilized
INR2.3Cr
Total disbursed by IVCS as loans
52%
Women members in Managing Committees across all IVCS