The Matheran e- Auto Rickshaw Fund lets you invest in hand rickshaw pullers in Matheran, enabling them to upgrade to e-rickshaws and earn higher incomes.

This credit will ensure them a…

life away from the drudgery and hard work of pulling e-rickshaws throughout the day, on the mud roads of Matheran. Not only will they be able to provide better for their families but this will also go a long way in keeping Matheran emissions-free.

(We at PlugInCaroo feel such a system should be implemented pan India)

What will this fund achieve and aim to do?

Through this fund you can enable hand-rickshaw pullers to buy e-rickshaws and increase their income in a sustainable manner. Your investment can enable a monthly income of Rs 30,000 per month for these hand-rickshaw pullers.

How is the Interest Rate set?

At Rang De, we work with ‘Impact Partners’ to fund investees. Impact partners are credible organizations across India who empower rural communities through entrepreneurship training, capacity building and providing access to markets.

Thanks to our Impact Partners, we are able to give rural communities the opportunity to choose an interest rate that is best suited to their needs.

Following thorough evaluation and due diligence, we determine the most favorable loan terms that align with the needs and preferences of the communities. This can be anywhere between 4-8% p.a.

What steps are taken in case of delays/defaults?

In the event of repayment delays, our impact operations team initiates communication with the relevant impact partner and the investee to know more about the circumstances causing the delay.

The majority of these delays stem from unavoidable factors such as the investee’s family member’s demise, a medical emergency, poor crop yields, loss of produce due to natural disasters, or on-the-ground operational challenges. Once we identify the underlying issue, our team reassesses the investee’s situation and allows them sufficient time to recover from their setback, updating their repayment schedule with their anticipated future cash flows.

We ensure that social investors stay informed about these developments by providing updates on their dashboard and via different channels of communication.