Kudumbashree Unveils Shreshta
On Apr 20, 2017
Trivandrum: A Work Management and Rating Software for Kudumbashree named ‘Shreshta’ was launched by Minister for Local Self Government K T Jaleel, earlier today. Conceived by the students of executive post graduate programme at IIM Kozhikode, it aims to enhance the performance of Kudumbashree.
By digitizing the financial data of various neighbourhood groups (NHGs) and presenting them with an efficient credit rating software, the team has aided Kudumbashree, thus contributing to the empowerment of women and development of the society. This would also enable easier procurement of funds.
"‘Shreshta’ will bring in a welcome change in the way Kudumbashree functions. Currently, it relies heavily on manual registers for keeping records of money lending. Aligning Kudumbashree with the Digital India Initiative and introducing technology into their working will increase their operational efficiency."
As per NABARD’s guidelines, there are 16 scales or parameters that should be examined before providing financial assistance to NHGs. Shreshta is capable of assessing 9 parameters, on the basis of which suitable credit rating can be given to the NHGs. The rating is quite similar to CIBIL score which is given to individuals for credit worthiness.This scoring mechanism will help in two ways. Firstly, Kudumbashree when disbursing its funds can disburse more funds to units which have a better rating. Secondly, these credit ratings can be used as an endorsement by NHGs to seek faster disbursements from banks.
Hari Kishore, Executive Director, Kudumbashree, said in a statement thanked the students of IIMK for having developed an effective tool for us in this short span of time.
The project was rolled out by the Executive PGP students of IIM Kozhikode, as part of their Social Development Project. The project was mentored by Prof Mohammed Shahid Abdulla Information Technology and Systems Area, IIMKozhikode, and Dr. Rahul Krishnan, Thematic Anchor, Livelihoods, Kudumbhashree.
The project team comprises Mridul Vijay (Stark Communications), Mathew TJS (IBS Software Services), Mudit (SunTec Business Solutions Pvt Ltd), Karthik Pillai (FourNxt Consultants LLP) and Nibu Alias (SectorqubeTechnolabs Pvt Ltd).
Kudumbashree, a community based organization of neighbourhood groups has been recognized as an effective strategy for the empowerment of women in rural as well as urban areas. The overall empowerment of women is closely linked to economic empowerment, which can leverage recent technological advancements.