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Independent & Neutral

Financial Literacy

for meaningful, qualitative Financial Inclusion

Women participating in Sanchayan’s Rural Financial Literacy Program in Haridwar district,

Uttarkhand. Project supported by Youthreach India and AIS Glass Limited.

Sanchayan Annual Report 2010-11

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A world where children can look forward to a safer financial

future…is it possible?

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Sanchayan

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Content

Management’s Report Page 5

Verticals Page 7

Partnerships Page 17

Recognition Page 18

Voluntary Affiliations Page 19

Financial Statements Page 20

Disclosures & Compliances Page 23

Future Goals Page 24

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Management’s Report

Hon’ble Finance Minister Dr. Pranab Mukherjee

Dear Friends,

What started off as a small attempt to share some knowledge with the young school

students studying in Government schools in Delhi is now taking shape to become

something much bigger, and we presume, better. Sanchayan was born to fill the gap which

the present school curriculum does not fill, the gap of inculcating good financial habits

among the future generations. Money Management has always been seen as something

that one can learn after one starts earning, probably y making some costly mistakes. What

we sought to do is to educate the young adults about various topics like savings, banking,

insurance, investing, etc which would help them to manage their family finances going

forward. Isn’t that what should be the purpose of education – to instill confidence and

prepare for the future?

Our initiatives with school and college students continues, which got further reinforcement

when Sanchayan got recognized as ‘Affiliate Member’ of Organization for Economic

Cooperation and Development (OECD, Paris) and part of the International Network on

Financial Education (INFE).

From Young Adults to Adults - We are now happy to share that Sanchayan has branched

out to work with adults, mostly from low-income backgrounds, the people who work for us

to make our lives better but we choose to ignore them and their lives. Practicality takes

precedence over Consciousness!! Sanchayan’s work with cooks, cleaners, maids,

“For the Indian growth story to become sustainable, encompassing financial inclusion is a must. Financial literacy is a prerequisite for effective financial inclusion, which will ensure

that financial services ―reach the unreached and under-reached sections of the society.”

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autodrivers, hawkers, rickshaw-wallahs and other self employed low-income people started

in February 2011. We are grateful to our advisors who encouraged us to think along these

lines and to expand our area of work to adult groups. Sanchayan started two slum centers

in Trilokpuri, East Delhi, during 2011 to provide the urban poor with the right financial

information & guidance as well as suitable financial services. We are calling these centers

“Sanchayan Suraksha Points” [SSP]; since we believe that security it the end goal of all

financial literacy & inclusion efforts.

Activities during 2011-2012:

Recognizing our work and commitment to the cause of financial literacy, Securities &

Exchange Board of India [SEBI] recognized Sanchayan as an Investor Association during

the current year. We are now India’s Youngest Investor Association!! Sanchayan now works

with SEBI to conduct joint financial literacy & investor awareness programs across the

country which benefits thousands of youth and adults from all strata of the society. We are

indeed humbled and proud at the same time to be working with such an esteemed

organization like SEBI!

The long term vision is for Sanchayan to be self-sustainable and to generate sufficient

revenues to take care of the operations and continue our efforts in disseminating neutral

financial literacy. During the year, we managed to achieve so much and more because of

the generosity of individuals who came forward to support the cause of financial literacy &

financial inclusion. We seek your continued support and well-wishes in the year ahead, and

hope that we can live up to your expectations of being a transparent, credible and reputed

organization!!

Avik Kedia Chidambara Sagar

Founder Founder

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Verticals

Youth

MoneySmart™ Are You?

Financial Education for

the privileged as well as

disadvantaged youth

so that they can learn

about money

management and grow

to become prudent

adults, responsible

with their family

finances.

Urban Poor

Sanchayan

Suraksha™ मेरा �वािभमान

मेरी सरु�ा

One-Stop Points for the

urban poor to access all

financial services like

savings, banking,

insurance, mediclaim,

pensions and financial

identity, combined with

the right advice and

financial literacy.

Rural Poor

�ामीण आ�थक

सा रता काय�म

Workshops for SHGs,

farmers and rural women

to assist them in

understanding financial

products and services and

undertaking financial

transactions for their long

term well being.

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Youth are the future of our country, and helping them to build their own future is

the least we can do….

Young girls staying in Salaam Balaak Trust’s Gurgaon home “Arushi” learning about money and money management.

���������� Financial Education for the privileged as well as disadvantaged

youth so that they can learn about money management and grow

to become prudent adults, responsible with their family finances.

����������

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Our work with Youth

Students of a Government school in Delhi taking part in MoneySmart Financial Literacy workshop conducted in their school.

Sanchayan works with both privileged youth

studying in private and public schools as well as

disadvantaged youth associated in vocational

training institutes managed by different NGOs

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Sachin is overjoyed at receiving his Savings Bank A/c passbook from Sanchayan trainer Priyanka!!

Along with the right financial education,

Sanchayan also helps the youth from

disadvantaged backgrounds to open their 1st

Savings Bank A/c where they can keep their

savings safe and earn interest.

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Principal’s Message

Encouraging schools to see the long term

benefit in inculcating good financial habits

among their students……for the students & for

India.

● ● ●

“Our school has made this program

compulsory for the students of class

9 to 12, seeing the value that the

program is adding in the student’s

life with respect to money

management. We want our students

to become successful investors and

money managers in the future.”

- Mrs. Manju Rana

[Principal, Seth Anandram

Jaipuria School]

● ● ●

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Workshops for SHGs, farmers and rural women to assist them in

understanding financial products and services and undertaking

financial transactions for their long term well being. An

independent and neutral view of financial products & services

which provide financial security to rural households.

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Men have been the traditional decision-

makers with regard to money. Will this

ever change? Maybe……..

Sanchayan’s Rural Financial Literacy Program

�ामीण आ�थक सा रता काय�म

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Women are being recognized as capable individuals who care for their

families, if not more than men, and who can manage their households

better. Across the nation, women are coming forward to form SHGs, take

up income-generation activities and take the lead in all family matters –

be it better schooling for their children, increased hygiene and sanitation,

cleaner drinking water or saving for a rainy day. Sanchayan’s rural

financial literacy program strengthens women’s role in making decisions

that impact the lives of their children and their futures.

Manju devi wants only the best for her little daughter sapna, whom she wants to grow up to become a

nurse, because that is what she wanted to become when she was a little girl.

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Can financial services be delivered

to the low-income people in a cost-

effective profitable manner………

Women signing up for No Frills Bank Accounts at Banking Camp held at Sanchayan Suraksha Point, Trilokpuri slums, East Delhi

Sanchayan Suraksha™

मेरा �वािभमान | मेरी सरु�ा

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One-Stop Points for the urban poor to access all financial

services like savings, banking, insurance, mediclaim,

pensions and financial identity, combined with the right

advice and financial literacy.

Rambhooli chachi proudly showing her PAN Card which a Sanchayan Suraksha Saathi helped her to obtain.

Financial Services for the Urban Poor

combined with

Right financial Advice & Information

Partnership

MoneySmart - Youth Financial Education Program

Sanchayan Suraksha Points

Banking Partner

Microinsurance Partner

PartnershipYouth Financial Education Program

Sanchayan Suraksha Points - Urban Poor Financial Services

For NPS Lite A/c

For PAN card

Microinsurance Partner

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Partnerships

Urban Poor Financial Services

For NPS Lite A/c

For PAN card

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Recognition OECD Affiliate Member:

Organization for Economic Cooperation and Development (OECD) has been leading the efforts

globally to make financial education an integral part of the curriculum. A Think-tank within the

OECD formulates policy and guidelines and undertakes advocacy with national Governments to

implement financial literacy programs in educational institutions worldwide. International Gateway

for Financial Education (IGFE), created by the OECD, is a database of the various financial literacy

programs being undertaken globally. [www.financial-education.org ]

Sanchayan has been recognized as an ‘Affiliate Member’ of International Network on Financial

Education [INFE], which is an international network of more than 100 countries on financial

education globally. Thus Sanchayan forms a part of India’s overall strategy and thinking on financial

literacy.

Along with RBI and SEBI, this database has recognized Sanchayan’s initiatives in India as follows:

Government programmes in India:

• Project Financial Literacy, Reserve Bank of India (RBI), (www.rbi.org.in)

• Securities and Exchange Board of India (SEBI), (www.sebi.gov.in)

Civil society programmes in India:

• The Financial Literacy Project, Sanchayan Society (www.SanchayanSociety.org)

SEBI INVESTOR ASSOCIATION:

The Securities and Exchange Board of India has been making sustained

efforts to spread financial literacy and disseminate neutral information

related to the markets so that more Indians participate in India’s growth

story. To meet its objectives of Investor Awareness, SEBI conducts

thousands of programs every year for school students, college students,

disadvantaged young adults, and professionals from all sectors. During

the year, SEBI has recognized Sanchayan as an Investor Association to

organize and conduct financial literacy & investor awareness programs

among different groups across the country.

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Voluntary Affiliations

Planning Commission has launched the NGO Partnership System

and a portal www.ngo.india.gov.in which is an online mechanism for

NGOs to apply for Governemtn funding schemes. Sanchayan is

regsitered vide Reg. No. DL/2009/0018288

During the year Sanchayan registered with Samhita which is helping

Indian NGOs to raise resources & awareness about their work

http://www.samhita.org/ngos/sanchayan-society

During the year Sanchayan got listed with Guidestar India which

provides reliable information about Indian NGOs and their work

thus facilitating NGOs to showcase their efforts

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Financial Statements

Receipts & Payments

Receipts

For the period 01 April 2010

to 31 March 2011

Payments

For the period 01 April 2010

to 31 March 2011

Opening cash and bank balance 9,721 Salary and other allowances -

Professional Fees 49,600 Cost of Piggy Banks 5,750

Membership Fees 27,200 Traveling and conveyance

78,762

Donations 225,704 Internet Usage charges

10,092

Interest income 436 Legal and professional fees

17,550

Communication

24,872

Website Cost 7,358

Auditor's Remuneration

5,000

Courier charges 7,502

Rates & Taxes -

Printing and stationery

20,732

Refreshments 15,681

Miscellaneous expenses

7,963

Purchase of fixed assets

96,760

Closing cash and bank balance

14,639

312,661 312,661

For Aggarwal & Associates

Chartered Accountants

ICAI firm registration number: 022496N

Sumit Aggarwal Avik Kedia Chidambara Sagar Proprietor Membership No.: 513480 Secretary Treasurer Membership No.: 513480

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Income & Expenditure

Schedule For the period

01 April 2010 to

31 March 2011

For the period 9 September

2009 to

31 March 2010

Income

Professional Fees

5

49,600

16,200

Membership Fees

6

27,200

4,000

Donations

7

225,704

35,000

Interest income

436

-

302,940

55,200

Expenditure

Salary and allowances

-

-

Program Expenditure

8 201,262

190,479

Depreciation

3

59,945

7,786

261,207

198,265

Balance carried to Balance Sheet 41,733

(143,065)

For Aggarwal & Associates For and on behalf of the board of

Chartered Accountants Sanchayan Society

ICAI firm registration number: 022496N

Sumit Aggarwal

Avik Kedia

Chidambara Sagar

Proprietor

Secretary

Treasurer

Membership No.: 513480

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Balance Sheet

Schedule As at 31 March 2011

As at 31 March 2010

SOURCES OF FUNDS

General Fund

1

(101,332) (143,065)

Loan Funds

2

180,000 180,000

78,668 36,935

APPLICATION OF FUNDS

Fixed Assets

3

Gross Block

131,760 35,000

Less: depreciation

67,731 7,786

Net Block

64,029 27,214

Current assets, loans and advances

Cash and bank balances

4

14,639 9,721

14,639 9,721 Less: Current liabilities and provisions

Current liabilities

- -

Provisions

- -

- -

Net current assets

14,639 9,721

78,668 36,935

For Aggarwal & Associates

Chartered Accountants ICAI firm registration number: 022496N

Sumit Aggarwal

Avik Kedia Chidambara

Sagar Proprietor

Secretary

Treasurer

Membership No.: 513480 Place: New Delhi

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Disclosures & Compliances

1. None of the Board Members received any compensation during the year.

2. The Activities of the Society:

Slab of gross monthly

remuneration

Female members Male Members Total

Less than Rs. 5,000 Nil Nil Nil

Rs.5,000 – Rs.9,999 Nil Nil Nil

Rs.10,000 – Rs.24,999 Nil Nil Nil

Rs.25,000 – Rs.49,999 Nil Nil Nil

Rs.50,000 & above Nil Nil Nil

3. No foreign travel took place during the year.

4. The Society spent Rs. 78,762/- on National Travel during the year.

5. The Society does not have any investments.

STATUTORY INFORMATION:

MAILING ADDRESS: H-9, Akash Bharti Apartments, Plot No. 24,

I. P. Extension, New Delhi-110092

WEBSITE: www.SanchayanSociety.org

www.SanchayanSuraksha.com

ESTABLISHMENT 09/09/09

TYPE OF REGISTRATION: The Societies Registration Act XXI of 1860

REGISTRATION DETAILS:

Certificate of Incorporation: S/66874/2009

PAN No: AAEAS7767D

Income Tax Exemption No.: 12 A : DIT (E)/12A/2010-2011/S-6282/1538

80 G : DIT (E)/2010-2011/S-6282/1903

CONTACT DETAILS:

Contact Person: Ms. Chidambara Sagar / Mr. Avik Kedia

Mobile No.: +91 – 9810572277 / +91 – 9560228484

Email: Chidambara@SanchayanSociety.org

Avik@SanchayanSociety.org

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Future Goals

Development of ‘need-based’ financial products and services Understanding the needs of the people and developing corresponding financial products and

services that fit these needs is our long term goal. These products can be from the universe of

banking services, insurance products, mediclaim services, low-cost investment products or

innovative microfinance loans, but the underlying theme shall be solutions that meet the real

needs of the people; solutions that match their income flows and financial goals.

Establishment a Network of Independent Financial Literacy & Credit

Counseling Centers (FLCCC) branded ‘Sanchayan Suraksha Points’ (SSP)

which would deliver low-cost financial services to the urban poor in addition

to neutral financial advice & guidance Complementing the efforts of RBI and Banks, Sanchayan has started the process of establishing

a network of independent self-funded network of FLCCCs branded ‘SSPs’ which would provide

the urban poor with access to all the financial services under one roof, in addition to neutral

and correct financial advice & guidance, whenever required. Presently 3 such SSPs are

operational in East Delhi.

These SSPs would require Government and Development support only for the initial 3 to 5

years, after which they would become sustainable and start generating enough revenues to run

independently.

Launch a ‘Centralized Mobile Helpline Number’ for Neutral Financial Advice A centralized helpline number would help consumers of financial services to take relevant

financial advice & guidance 365/24/7 and therefore go a long way in restricting the mis-selling of

financial products and facilitate long term confidence in the financial services companies

associated with these products, be they banks, insurance companies, mutual funds, pension

companies or investment advisory firms.

Sanchayan is seeking interested partners for this initiative who are mature and would be open

to taking a long-term outlook here.

SMS based financial literacy initiatives With even the mobile revolution, majority of the people, whether rich or poor have access to

phones, and therefore mobile phones present a ready medium to increase awareness about the

right financial products and services.

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Financial Literacy Trainings

Financial Services Delivery

One-to-One Financial

Counseling & Guidance

That’s what we do.

www.twitter.com/NGO_Sanchayan www.facebook.com/SanchayanSociety

Regd. Office: B, 1/83, Paschim Vihar, New Delhi -63

Communication Address: H-9, Akash Bharti Apartments, 24, I. P. Extn., Delhi-91

Slum Center [SSP 1]: Extra 8/109, Trilokpuri, Delhi-91

Slum Center [SSP 2]: 11A/129, Block 15 chowk , Opp. Agarwal Sweets, Trilokpuri, Delhi-91

Phone: 011-42138236 Email: info@sanchayansociety.org

Website: www.SanchayanSociety.org Website: www.SanchayanSuraksha.com

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Can we eliminate financial fraud in our

lifetime? Can we dream of a world where

parents can save for difficult times without

getting cheated; be protected from financial

shocks; have sufficient reserves for

emergencies; provide their children with all

the support they can; and dream of a secure

financial future.