Vedanta Jharsuguda’s flagship CSR project, Subhalaxmi Co-operative, crosses 4000 membership mark

Mumbai, 5^th September 2020: Vedanta Jharsuguda’s flagship CSR initiative, the all-women Subhalaxmi Co-operative Society has crossed 4000 membership tally, becoming one of the largest rural women’s co-operative in Odisha. Incepted by Vedanta in 2008 with 10 women and a fund base of Rs. 1000, the co-op currently prides itself on a membership count of more than 4000 and a treasury worth over Rs. 3 crores.

Speaking about Vedanta’s partnership with the co-op, Mr. CN Singh, CEO – Vedanta Ltd., Jharsuguda says, “Vedanta is committed to the development of women and children in India, especially those hailing from underprivileged backgrounds and marginal communities. The journey of Subhalaxmi Co-op stands testimony to how organizations like ours and such communities can collaborate to build an institution of social good, transforming many lives along the way. It makes us immensely proud to see thousands of women who were once shy of stepping outside their houses, become entrepreneurs, taking destiny into their own hands and shaping it on their own terms.”

Subhalaxmi Co-op is engaged in promoting sustainable livelihood opportunities among rural women, creating avenues for entrepreneurship through skill development and providing financial assistance to the members for furthering their livelihood. Though dedicated efforts and positive word-of-mouth, today the co-op has amassed the support of 331 Self-Help Groups (SHGs) across72 villages of Jharsuguda. Members of the co-op own and run several micro-enterprises like fast food centers, packaged snacks, poultry farms, grocery stores, beauty parlours, tailoring centres, vegetable cultivation, etc.

Ms. Rashmilata Behra, Assistant Registrar of Cooperative Societies – Govt. of Odisha and Management In-Charge – Subhalaxmi Co-op, said,  “Each member of Subhalaxmi has access to doorstep-facilities like savings, loans, knowledge and skills trainings for enterprise development. More importantly, they have the strength and collective security of thousands of women who continuously encourage and support each other to succeed.”

The co-op offers a special provision in the form of ‘Udyami Fund’ which helps dedicated entrepreneurs avail higher loan amounts for procuring machinery, raw material support, market linkage and access to specialized trainings. Subhalaxmi also has a welfare fund called ‘Mahila Kalyan Panthi’, created with contribution from all members, which helps support them during critical phases in their lives like pregnancy, matriculation of children, death in the family and so on.

Over the past decade Subhalaxmi has evolved into a micro-finance institution as well as social change-agent, earning many laurels. The co-op has undertaken various significant campaigns over the years in Jharsuguda’srural margins, like financial inclusion and social empowerment of women, mainstreaming of rural entrepreneurship, Swachh Bharat and general cleanliness drives, awareness against open-defecation, promotion of girl child’s education and safety, and many more.

Vedanta is India’s largest producer of the greenmetal, aluminium, operating a world-class 1.6 MTPA aluminium smelter and 3615 MW thermal power generation facility in Jharsuguda, Odisha. The only Indian smelter in the global ‘1 Million Tonne’ production and export club, Vedanta Jharsuguda is a leader in value-added aluminium products that find critical applications across core industries. With one of the largest technically qualified and diverse workforces in the country, the company is working towards a sustainable and greener future for all by spurring emerging applications of aluminium, the ‘Metal of the Future’.

About Vedanta Limited

Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s leading Oil & Gas and Metals company with significant operations in Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, and Aluminium & Power across India, South Africa, Namibia, and Australia. For two decades, Vedanta has been contributing to India’s growth story, currently contributing 1 percent of India’s GDP. The company is among the top private sector contributors to the exchequer with the highest ever contribution of INR 42,560 Crore in FY 2019.

Governance and sustainable development are at the core of Vedanta's strategy, with a strong focus on health, safety, and environment and on enhancing the lives of local communities. The company has been conferred the CII-ITC Sustainability Award, the FICCI CSR Award, Dun & Bradstreet Awards in Metals & Mining, and certified as a Great Place to Work. Vedanta Limited is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange.

About Vedanta Aluminium and Power:

Vedanta Aluminium& Power, a part of Vedanta Limited, is India’s largest producer of aluminium, producing 1.9 million tonnes per annum (MTPA) in FY20. It operates a 1.6 MTPA aluminium smelter and 3615 MW thermal power generation facility in Jharsuguda, Odisha. Vedanta Aluminium & Power is a leader in value-added aluminium products that find critical applications in core industries. It prides itself in having one of the largest technically qualified, diverse and vibrant workforces in the country spread across its four assets. With its world-class smelters, power plants and alumina refinery spread across India, the company fulfills its mission of spurring emerging applications of aluminium as the ‘Metal of the Future’ for a greener tomorrow.

For more information please log on to https://www.vedantalimited.com

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