annual report fy 2018-19 · 2020. 11. 13. · about utkarsh welfare foundation board of directors...

ANNUAL REPORTFY 2018-19

Index

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09

Company Profile

Chairman's Note

About Utkarsh Welfare Foundation

Board of Directors

Senior Management

Directors' Report

Financials

Voices from the Field

Our Partners through the Journey

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53

Corporate Identification No.

U74900UP2010NPL041674

e-mail :

[email protected]

Statutory Auditors :

M/s Achal Srivastava & Co.

H. No. S. 2/57, Dithori Mahal,

Orderly Bazar, Varanasi

Uttar Pradesh – 221002 INDIA

Registered Office :

Utkarsh Welfare Foundation

S-2/641-34, Varuna Vihar Colony

J. P. Mehta Road, Cantt. Varanasi

Uttar Pradesh - 221002 INDIA

Email ID : [email protected]

Contact No. : +91 75228 00125

COMPANY PROFILE

Annual Report FY 2018-1901

CHAIRMAN'S NOTE

Dr. H. P. Mathur

At the outset, I thank all our stakeholders viz. our

Members, partners and beneficiaries for the

continuous support and patronage. With the

earnest efforts of the team, we are privileged to

share with you our Annual Report for the FY

2018-19.

Utkarsh Welfare Foundation (UWF or “the

Foundation”) aims to make a meaningful and

sustainable impact in the lives of the community

through a multi-pronged service oriented

market led approach. UWF has initiatives that

focus on education, health, skill development,

micro enterprise training and sustainable

livelihoods.

During the financial year 2018-19, the annual outreach

achievement for the Foundation, across various key thematic

interventions such Financial Literacy, Health and Skill & Enterprise development programmes has been

1,62,090 beneficiaries.

The Foundation is a catalyst to development interventions that enhance wellbeing of poor and rural

households for over a decade. With innovative program design at the core of its intervention strategy, it is

rapidly evolving its approach to maximize its outreach and intensify its impact. The institution has made

sustained efforts in diversifying its interventions in the areas of health, financial awareness skill

development, micro enterprise training and sustainable livelihoods.

The Foundation puts efforts to understand the need of women beneficiaries in underserved and financially

excluded geographies to gain access to financial education that helps to identify and address the gender

barriers and knowhow in the financial decision making processes at households. The objective of financial

literacy programs is to provide women beneficiaries in microfinance sector, with the knowledge and tools

to make informed financial decisions and improve their lives.

UWF interventions are focused on developing ideas and solutions that are based on deep understanding of

the needs of low-income households in remote and underserved areas. It has achieved this growth through

a partnership oriented, multi-thematic approach that focuses on identifying the needs of the target

beneficiaries and designing interventions and partnerships which can potentially address these needs in

the most sustainable manner.

The recent initiatives under the 'Village Development Program' (VDP), are designed through intensive

engagement with the community members with the objective to provide multi themed products and

services to cater to clients' needs as described by them through self-sustaining delivery channels which are

scalable.

02Annual Report FY 2018-19

Cumulatively, UWF’s outreach through its multi thematic interventions has touched 5.73 lakh beneficiaries

across multiple States in India, through partnerships with various government organizations, industry

leaders, resource organizations, grass root entities and innovative entrepreneurs. Some notable models of

co-creation in the past year were with SIDBI-PSIG (Small Industries Development Bank of India - Poorest

States Inclusive Growth Program), International Finance Corporation (IFC), Swiss Capacity Building Facility

(SCBF), Dutch Entrepreneurial Development Bank (FMO), ACCION and leading health service providers in

our areas of intervention. We aim to achieve our full-scale operations on a holistic multi themed Village

Development Program within the next year. A knowledge repository of various capacity building modules

and tools have been developed in each area of intervention based on experiential learning in the field and

continued collaboration from industry and knowledge partners, who are pioneers in their respective

sectors.

Utkarsh Welfare Foundation started a new project focusing women entrepreneurship for addressing the

missing middle gap in partnership with SIDBI and UK Government (Department for International

Development). It is envisaged that the program will demonstrate the potential for establishing, upscaling

and diversifying women led micro & small business enterprise amongst the microfinance clients. The pilot

project shall give an opportunity to women entrepreneurs to diversify by taking up new enterprises and

scale up existing enterprises. Utkarsh Welfare Foundation, as an Implementing Agency shall be

responsible for implementation of the micro-enterprise development program under the guidance of

SIDBI-PSIG. Pilot project shall aim to establish, scale up and diversify 8,000 micro enterprises. The project

duration is for 15 months with initial three (3) months for doing the ground work for the project including

training and mapping of existing enterprises. The establishment and grounding of the micro enterprises

should be completed within 12 months. With an intensive approach, two (2) districts from Uttar Pradesh

viz. Ghazipur and Varanasi shall be targeted. District level focus on micro enterprise promotion may

increase the possibilities of micro enterprise cluster development.

The dynamism in the Foundation’s strategy has an informed multiple participatory outreach, which forms

the foundation of an expertise, that can be capitalized to both - expand and intensify, the impact. Our future

areas of priority shall be built on important pillars including that of compliance with the norms of Corporate

Social Responsibility under Section 135 of the Companies Act 2013, thematic alignment with United

Nation’s Sustainable Development Goals and the government’s national priorities agenda.

Utkarsh programs strives to ride on a strong technology spine to maximize outreach and impact. It has

strengthened its monitoring and evaluation systems to assess impact in a more scientific and efficient

manner to institutionalize evidence-based documentation, impact assessment and program design.

As envisioned Utkarsh Welfare Foundation will strive to capacitate the underprivileged communities in

unserved and underserved geographies with more intensifying efforts. Coming year will witness deeper

engagement with communities for lasting impacts. With capable team and efficient resources at its

disposal, I am sanguine to see Utkarsh Welfare Foundation achieving its intended goals.

Regards,

Sd/-

Dr. H. P. Mathur

Chairman

03 Annual Report FY 2018-19

Varanasi

May 1 , 2017 9

Place

Date

:

:

Utkarsh Welfare Foundation (UWF) was incorporated in August 2010 and is registered under Sec. 25 of Companies Act, 1956 (now Sec. 8 of Companies Act, 2013). Its interventions are aimed at providing various services for the development and assistance to the underprivileged and under served segment with market linkage opportunities, education, health and vocational training programs. UWF aims at empowering women, making them self-confident and enabling them transform into successful entrepreneurs.

UWF aims to make a meaningful and sustainable impact in the community through a multi-pronged service oriented market led approach. UWF has initiatives that focuses on education, health, skill development, micro enterprise training and sustainable livelihoods.

Guiding Principles

The Foundation is in continuous efforts to positively impact the society, especially the underprevileged and underserved communities in areas of its operations. Utkarsh has formulated policies for social development based on following guiding principles:

· Adopt an approach that aims at achieving a greater balance between social development and economic development.

· Adopt new measures to accelerate and ensure the basic needs of all people. · Work towards elimination of barriers for the social inclusion of disadvantaged groups, such as the

poor and the differently abled.· Support underprivileged and underserved segments by providing financial and non-financial

services through a socially responsible, sustainable and scalable institution.

VISION

Be an institution of excellence in promoting holistic development through inclusive growth leading to greater participation in equitable socio-economic opportunities.

To promote sustainable development through technology driven, impactful and scalable interventions in the identified thematic areas including primary healthcare, education, skill training, livelihoods, financial inclusion and environmental conservation.

MISSION

ABOUT UTKARSH WELFARE FOUNDATION

Annual Report FY 2018-19 04

Dr. Himendu Prakash Mathur is having rich experience in academic administration, research and teaching. He has published a number of articles / papers in reputed National & International Journals. He has also authored 12 books besides having edited several volumes. His areas of interest include Banking, Strategic Managements, Finance. He acts as expert member at different committees and academic bodies.

Dr. H. P. Mathur is Coordinator of BHU Placement Coordination Cell, Convener, HRD Cell, BHU; Dy. Coordinator International Student Affair's Collaboration and Coordinator, MBA Agribusiness Program. He is also Treasurer, BHU Management Alumni Association (BHUMAA).

Prior to joining as Professor at FMS, BHU in 1992, he worked as Assistant Engineer at Hindustan Aeronautics Ltd., involved in

designing, planning, fabricating and testing equipments for aircrafts. He also worked for over ten years in Allahabad Bank and was Branch Head. His major involvement was in project formulation, evaluation, credit management and consultancy.

He is B. Tech. in Electrical Engg. from IIT, BHU, Masters in Management Studies (Gold Medalist) Ph.D. from Faculty of Management Studies (BHU), CAIIB from IIBF and holds Diploma in German Language.

Dr. H. P. Mathur

BOARD OF DIRECTORS

Mr. Govind Singh has an overall experience of more than three decades in the Banking & Finance Sector, with wide range of experience at different levels.

He is the founder of Utkarsh Micro Finance Ltd., the promoting institution of Utkarsh Small Finance Bank Limited. Currently, Mr. Govind Singh is the MD & CEO of Utkarsh Small Finance Bank.

Prior to setting up Utkarsh, he was with ICICI Bank Ltd. in Rural, Micro & Agri - Business Group as the Business Head for Micro Banking. He also worked in Retail Liabilities Group with ICICI Bank.

Earlier to ICICI Bank, he had stints with UTI Bank Ltd. (Axis Bank), Bank Internasional Indonesia, Surya Roshni Group (Financial Services). He had also stints with Allahabad Bank and State Bank of Patiala.

Mr. Govind Singh also served as a member of the working group to review the Business Correspondent (BC) Model in India. The committee was setup by RBI to examine the ways for improving BC Model.

Mr. Govind Singh


Ashwani Kumar has over 13 years of Banking and Micro Finance experience, especially in the phases of setting up, upscaling and transition management of new verticals and entities with focus on Skills and Competency Development Management.

He has extensive hands-on exposure and demonstrated abilities of streamlining multi-functional roles in the domain of Strategy - Planning & Execution for different Support and Control Functions (Support Functions exposures being in HR, Training, Administration, Compliances, Company Secretarial, Corporate Communications, Client Interactions, Branding & Marketing; and Control Functions exposures being in Internal Audit, Risk Management & Inspections) in BFSI sector including in NBFC-MFIs.

He has exposures in both government setups (while working with Canara Bank, a leading Nationalised Bank in India and NABARD Financial Services, a quasi-government NBFC-MFI in their

respective Head Offices at Bangalore) and private setups (while working with Utkarsh Small Finance Bank, a new generation private Sector Small Finance Bank; started with its NBFC-MFI avatar and played a critical role during its transition journey, based out of its Head Office in Varanasi and with Locus Research and Consultants, a Delhi based private Research & Consulting Agency).

He has been speaker at various National & International Conferences, Seminars and Workshops in the domain of Priority Sector Lending, Microfinance, Microbanking Practices and Competency Building Initiatives. He has also taken several sessions and workshops at various Banks, Colleges, Universities, CAB-RBI (Pune) and NIBM (Pune). He has publications in CAB-RBI's annual book and has been Editor of organization's internal magazines like Farm Digest and Utkarsh Gyan Darpan.

He is a Rural Management Graduate from Institute of Rural Management, Anand (IRMA); has UGC NET certification in Management and has also done CFA from ICFAI (India); CAIIB with other Diplomas and Certifications from IIBF. He is a lifetime member of CFA Council (CCFA, India) and Indian Institute of Banking & Finance (India).

Mr. Ashwani Kumar

Mr. Rahul Dey

Mr. Rahul Dey has over 15 years of experience in Banking and Microfinance sector. Presently he is heading Internal Audit Department at Utkarsh Small Finance Bank. Prior to joining Utkarsh, he was with Ujjivan Financial Services Pvt. Ltd. as Regional Business Manager responsible for their Individual lending business in eastern India. Apart from this, he has worked in various capacities with organizations like Ballarpur Industries Ltd, ICICI Bank Ltd, Spandana Spoorthy Financial Ltd. and Anjali Microfinance Pvt. Ltd. while working with ICICI Bank as Regional Manager - West Bengal and North East, he was responsible for the Bank's MFI business in the region for more than three (3) years.

He holds Post Graduate Diploma in Rural Management from Xavier Institute of Management, Bhubaneswar.


Mr. Umanath Mishra

SENIOR MANAGEMENT

Head Operations

Mr. Umanath Mishra has diverse experience of over 13 years in the domain of

Banking, Microfinance, Management of Development Projects and Research. He

has varied experiences of working with Corporate and Social sector. He has

worked with ICICI Bank, one of the largest private sector Banks in India and

leading development institutions like ISMW promoted by Self Employed

Women's Association (SEWA) and Friends of Women World Banking-India

(FWWB).

Prior to joining Utkarsh Welfare Foundation, he was Director at Indian School of Microfinance for

Women (ISMW) for over 5 years, where he played strategic and leadership role in designing,

implementing and managing multiple stakeholder capacity building initiatives and research

programs with large scale client outreach in different States and poorest districts pan India. He has

demonstrated experience in successful bidding for projects with Multilateral and International

development agencies such as UK Aid's Department For International Development (DFID) and Asian

Development Bank (ADB) focussing Financial Inclusion and Entrepreneurship Development. He has

developed a range of modules, technology based and audio visual toolkits on financial education and

micro enterprise trainings. He has also hands on experience in designing and implementing projects

based on innovative mobile technology and web based platforms for impact evaluation and

capturing accurate socio economic data. He played the Chief Liaison with leading microfinance

institutions, international development, Government and CSR agencies viz. RBI, NABARD, SIDBI,

NRLM, GIZ, UNDP, UN WOMEN, ICICI Foundation, CITI Foundation, BSE-IPF (Bombay Stock

Exchange), Union Bank CSR, Indian Institute of Management - Ahmedabad. During his tenure with

ICICI Bank, he worked in various business verticals such as Rural Micro Banking, Microfinance, and

Commercial Banking for over four (4) years.

He was invited as panellist with eminent personalities to speak on Financial Inclusion and Women

Empowerment issues. He attended National Financial Inclusion conferences by Reserve Bank of

India and Dun & Bradstreet as one of the key panellists; Invited as Guest Faculty on Financial Inclusion

Strategies by Entrepreneurship Development Institute of India (EDII) Gandhinagar. He was invited to

represent ISMW at the FT ASEAN Economic Summit at Singapore as Indian social sector

representative.

He holds Post Graduate Diploma in Rural Management from Institute of Rural Management, Anand

(IRMA); has Advance Diploma in Software Application from SVET, Vishakhapatnam. He was also a

member of Indian Peoples Theatre Association (IPTA), Patna.


Mr. Ravinder Singh Karkee

Manager

He has over 14 years of rich experience in Strategic Project Management for Social & Developmental Issues is passionate about working for the socio-economic development of deserving population by building their capacity & skills. He has successfully executed several projects related to Livelihood (Farm & Non-Farm Activities), Social Mobilisation & Institution Building, Enterprise Development, Agriculture, Horticulture, Skill & Vocational, Rural Handicraft Promotion and Socio-Economic Development during his career.

Prior to joining Utkarsh, he was associated with Reliance Foundation (CSR initiative of Reliance Industries) as Project Manager, providing Technical & Managerial Support to ensure implementation, capacity need identification, financial and programmatic reviews; monitoring the program and rendering on-site technical support to the staff to achieve better results. Apart from this, he worked with Uttarakhand Livelihood Improvement Project for Himalayas (a joint initiative of Government of Uttarakhand & International Fund for Agricultural Development) as Enterprise Promotion Manager and played a major role in strengthening the existing projects, providing inputs in proposal development for new assignments and preparing Business Plan for identified Value Chains / Sub-Sectors.

He has intensive grass-root exposure while working with Appropriate Technology India, working for hill communities in enhancing their primary as well secondary sources of livelihood (On-farm and Non-farm based activities). Initiated the project of ‘Devbhumi Retail Network’ with partner NGO’s in various districts of Uttarakhand. Backward, horizontal and forward linkages development for projects of Temperate Oak Tasar, Apiculture, Micro-Dairy Enterprises, Eco-Tourism, Rural Handicraft development through Value Chain.

He holds Post Graduate Degree in Forest Management from Forest Research Institute, Dehradun. Also completed MBA (HR) through distance education from Sikkim Manipal University and Master in Social Works (MSW) from St. Peter Institute of Higher Education & Research, St. Peters University, Chennai.


ToThe MembersUtkarsh Welfare Foundation

Your Directors have pleasure in presenting their Ninth Annual Report on the business and operations and Audited Financials of the Foundation for the Financial Year ended March 31, 2019.

DIRECTORS REPORT

1. Financial Results

The financial results of Utkarsh Welfare Foundation for the FY 2018-19 are as follows: (Amount in )

Particulars FY2019 FY2018

Total Income

Less : Total Expenditure

(Deficit)/Surplus before prior period items

Less: Prior Period Items

(Deficit)/Surplus after prior period items

Less: Current Tax

(Deficit)/Surplus after Tax

2,06,39,697

2,07,80,469

(1,40,772)

-

(1,40,772)

-

(1,40,772)

1,35,91,470

1,81,04,112

(45,12,642)

3,300

(45,15,942)

-

(45,15,942)

2. State of Foundation's Affairs

During the financial year 2018-19, the Foundation has performed the following activities:

Operational Highlights for FY2018-19

For the FY 2018-19 the Annual outreach for Utkarsh Welfare Foundation across various key thematic interventions such Financial Literacy, Health and Skill & Enterprise development programme has been 1,62,050 beneficiaries.

From the last financial year there has been a remarkable shift in the intervention approach from outreach to outcomes based approach. Apart from financial literacy, more intensive and impact based programmes under skill and vocational training for micro entrepreneurs were supported.

Snapshots of the projects and programmes implemented with the support of various partners are given below:

A. Health Initiatives: The Health Initiatives by Utkarsh Welfare Foundation have been expanded to the remotest villages of the project areas. The initiative is especially benefitting resource poor sections in the underserved geographies with no access to even the basic medical services. Various preventive as well as promotional approaches were taken as part of health initiatives which includes Health Awareness Camps, Regular and Mobile Polyclinic. Currently, the Regular Polyclinic is organized at eight (8) locations and Mobile Polyclinic is organized at 20 locations across eight (8) district of Bihar (Buxar, Bihiya, Bhojpur, Brahmpur, Gaya Kuransarai, Kaimur and Rohtas), five (5) districts of Uttar Pradesh (Allahabad, Gorakhpur, Kushinagar, Mirzapur and Varanasi) and two (2) districts of Madhya Pradesh (Rewa and Satna). Health initiatives were implemented with the support of partners such as Utkarsh CoreInvest limited and HDFC Life insurance limited. Total outreach across various health initiative during FY 2018-19 has been 85,204 beneficiaries.


B. Financial Awareness Initiatives: Financial education programs are aimed at building financial capabilities to enhance financial decision making process among the resource poor and financially excluded section in the underprivileged and underserved geographies through right information, instructions and advices.

Models for delivering financial awareness and advisory services to the beneficiaries incorporates best practices in the domain through partnerships. Currently, Utkarsh Welfare Foundation is implementing Financial Education initiatives at 31 locations across 15 districts in Bihar, Madhya Pradesh, Uttarakhand and Uttar Pradesh. Through various intensive as well as extensive approaches such as class room training, mass awareness programme for delivering financial literacy, digital financial literacy and advance financial literacy through dialogue on business for micro and small business entrepreneurs. Financial literacy initiates were implemented with the support of partners such as Utkarsh Small Finance Bank limited, Small Industries Development Bank of India and HDFC Life insurance limited. Total beneficiary outreach under various financial literacy initiatives during FY 2018-19 has been 69,883 beneficiaries.

C. Skill and Vocation Enterprise Development:

i. Women Entrepreneur Empowerment USFB CSR fund supported SIDBI-PSIG pilot project for establishing / upscaling /diversifying women led micro & small business enterprises. The pilot project in intended to create opportunities for women entrepreneurs to diversify / take up new enterprises and scale up existing enterprises. Technical support is provided by Udyogini, an institution of repute in the domain of micro enterprise development. Total 8,000 women led enterprises are supported under the project with business development services, credit and market linkage support. Relevant skill and vocational trainings is being organized under the project. Under intensive approach project is being implemented across 2 districts in Uttar Pradesh viz. Ghazipur and Varanasi. Project timeline is for 15 months. As on March 31, 2019, total 6,683 women entrepreneurs were on-boarded for the project out of which total 3,955 were provided with 12 hours of enterprise development training and 1,550 beneficiaries were provided with credit linkage support. UWF also facilitated enrollment of 32 women with Samsung Technical School promoted by Ministry of MSME under Skill Development Programme on electronic repair and maintenance.

ii. Micro Enterprise Promotion Program (MEPP) with the support of SIDBI, two (2) Micro Enterprise Promotion center has been set up, one each at Varanasi and Ghazipur districts of Uttar Pradesh. Business development services and credit linkage support will be provided to small business entrepreneurs apart from support in upgradation of enterprise development skills. As on March 31, 2019 total 220 micro entrepreneurs have been supported.

D. Village Development Programme: Village adoption plan envisages integrated and holistic development of identified villages in consultation with village community coupled with convergence of various development interventions. Emphasis under this program is on participatory planning, convergence of various development programmes for bringing about overall development of the targeted villages. Five (5) Villages namely Karnadadi, Dholapur, Bhimchandi, Mehmedpur and Deendaspur under Arajiline block in Varanasi district have been identified for the intensive approach under development intervention. Major initiatives under village development program are:

i. Learning Enhancement Program for School Children: Total 100 children in the age group of 5-12 years identified and enrolled for the program under which UWF is organizing tutorial classes on Language skills (English and Hindi), Numeracy skills, Science and Drawing with the use of various creative learnings tools, audio-visuals, games and participatory tools.


ii. Health and Financial Literacy: During FY 2018-19, total 1,085 beneficiaries trained under financial

literacy class room training in 62 batches. Total 10,362 beneficiaries attended the health camps.

E. Supporting homes for special children, elderly, destitute and poor: The Company continued its

support to homes for special children and elderly. The company sponsored meals and also provided

them with some items of their daily needs. For better engagements and understanding needs monthly

visits by volunteers are organized. Apart from regular visits picnics were organized for children winter

clothes were provided and bed repairing work was carried out at old age homes for senior citizens.

3. Material Changes

There are no material changes and commitments that occurred between the closure dates of the previous

financial year and the current financial year of the Foundation to which the financial statements relate and

the date of the report which can affect the financial position of the foundation adversely.

4. Change in the Nature of Business, if any

No significant or material order were passed by the regulators or courts or tribunals impacting the going

concern status and Foundation's operations in future.

5. Details of Subsidiary/Joint Ventures/Associate Bank

6. Deposits

The Foundation has not accepted any deposits during the FY 2018-19.

7. Statutory Auditors

8. Auditor’s Report

There are no adverse observations / qualifications in the Auditor’s Report.

10. Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo

The particulars to be disclosed under Section 134(3) (m) of the Companies Act 2013, relating to

conservation of energy and technology absorption are not applicable to the Foundation.

As the Foundation has not carried out any activities relating to the export and import during the financial

year, there is no foreign exchange expense or foreign income during the financial year.

The Foundation is a subsidiary company of Utkarsh CoreInvest Limited (UCL) and a fellow sister concern of

Utkarsh Small Finance Bank Limited (USFBL).

The present Statutory Auditors of the Foundation, M/s Achal Srivastava & Co, Chartered Accountants,

Varanasi, UP are proposed to be re-appointed as the Statutory Auditors subject to ratification by members

in the ensuing AGM of the Foundation.

9. Share Capital

The Share Capital of the company comprises of 63,700 Shares of face value of ̀ 10 (Indian Rupees Ten Only

each).


11. Changes in Directors and Key Managerial Personnel

During the FY 2018-19, there was the following change in Board of Directors or Key Managerial Personnel

of the Foundation:

12. Number of meetings of the Board of Directors

A total of six (6) Board Meetings were held by the Company during the FY2018. The same is summarized as

below:

Sl.

No. of Directorseligible toattend themeeting

May 10, 2018

August 09, 2018

September 12, 2018

November 19, 2018

February 11, 2019

March 28, 2019

5

5

5

5

5

5

5

4

4

5

4

4

Date

1

2

3

4

5

6

100

80

80

100

80

80

No. of Directors

attended themeetings

% of Attendance

13. Particulars of Loans, Guarantees or Other Investment

The Foundation has not given any loans, guarantees or made any investment which requires disclosure

under Section 186 of the Companies Act, 2013.

14. Particulars of contracts or arrangements with related parties

The Foundation has no contracts or arrangements with related parties except CSR activity of Utkarsh

CoreInvest Limited & Utkarsh Small Finance Bank Limited.

15. Managerial Remuneration

No employees have earned remuneration in excess of limit mentioned under 5(2) of the Companies

(Appointment and Remuneration of Managerial Personnel) Rules, 2014.

This page is intentionally left blank.

Sl. Designation DIN/ PAN

Mr. Sachchida Nand Tripathi

Ms. Ankita Khetan

Director

Company Secretary

Name of KMP

1.

2.

07286334

DNZPK8008K

10.05.2018

16.02.2016

-

31.01.2019

Date ofAppointment

Date of Resignation


17. Web Link for Annual Return

(Ashwani Kumar)DirectorDIN-07030311

Place: Varanasi

Date: 17.05.2019

(Rahul Dey)DirectorDIN-07030307

The Company is having its website on which the Annual Return of www.utkarshwelfarefoundation.com

the company has been published. Link of the same is given as below:

www.utkarshwelfarefoundation.com/index.php/Archive/AnnualReport

16. Directors’ Responsibility Statement

Pursuant to the Directors’ Responsibility Statement referred to in clause (c) of sub-section (3) of Section

134 of the Companies Act, 2013, and based on representation from Management the Foundation states

that-

a) In the preparation of the annual accounts, the applicable accounting standards had been followed along

with proper explanation relating to material departures;

b) The Directors have selected such accounting policies and applied them consistently and made

judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of

affairs of the Foundation at the end of the financial year and of the Surplus/ Deficit of the company for

that period;

c) The Directors have taken proper and sufficient care for the maintenance of adequate accounting records

in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the

Foundation and for preventing and detecting fraud and other irregularities;

d) The Directors have prepared the annual accounts on a going concern basis; and

e) The Directors have laid down internal financial controls to be followed by the Foundation and that such

internal financial controls are adequate and were operating effectively.

f) The Directors had devised proper systems to ensure compliance with the provisions of all applicable

laws and that such systems were adequate and operating effectively.

18. Acknowledgements

Your Directors would like to express their sincere gratitude for the co-operation and assistance received

from all Shareholders, Regulatory Bodies and other Business Constituents and Partners during the year

under review.

Your Directors also wish to place on record their deep sense of appreciation for the commitment, hard work

and dedication displayed by all the employees.

The Directors wish to place on record their sincere thanks and gratitude to all associates and beneficiaries

of various welfare programs undertaken by the Foundation.

For and on behalf of the Board of Directors.


http://www.utkarshwelfarefoundation.comhttp://www.utkarshwelfarefoundation.com/index.php/Archive/AnnualReport

VOICES FROM THE FIELD

Neelam Singh is a thirty-four year old ‘women micro-entrepreneur’, who is well educated having completed her Bachelor of Arts (BA) successfully. Before being a part of the Mahila Udyami Sashaktikaran Program (MUSP), she had not been involved in any business enterprise.

She was screened and selected by Utkarsh Welfare Foundation for capacity building and hand-holding support under the Mahila Udyami Sashaktikaran Program. She has been provided with business related training and has also been helped in business planning, particularly in identifying opportunities for increasing her income.

She had been trained as a beautician and the enterprise training encouraged her to start her own beauty parlour.

She availed a loan of `25,000 from Utkarsh Small Finance Bank which helped her to purchase new equipment as well as material stock. The program has also helped her in maintaining simple records of her business transactions.

Her beauty parlour has taken off well, and she has been earning a monthly profit of around `8,000. This income stream has given her financial independence. She is able to contribute to her household’s earnings and has earned her the respect of her family members.

Customer relationship management is one of her greatest strengths. She has developed a loyal clientele in a short span of time, and the future prospects of her business appear bright.

“Neelam Singh’s Beauty Parlour."NEELAM SINGH


Ms. Pramila Devi is a thirty-four year old ‘women micro-entrepreneur’. She has studied till the twelfth standard. Before being a part of the Mahila Udyami Sashaktikaran Program (MUSP), she used to earn around ̀ 3,000 per month from her tailoring business.

She was screened and selected by Utkarsh Welfare Foundation for capacity building and hand-holding support under the Mahila Udyami Sashaktikaran Program. She has been provided with business related training and has also been helped in business planning, particularly in identifying opportunities for increasing her income. The program has also helped her in maintaining simple records of her business transactions.

While having discussions on her business plan during an MUSP training, she realized that there was scope to increase the scale of her business substantially, provided, she had the resources to take more orders and work on them.

She received a loan of ̀ 60,000 from Utkarsh Small Finance Bank which helped her to purchase new sewing machines as well as material stock. She started engaging other women in her social circle who could help her complete the work on orders she takes.

Pramila Devi’s monthly profits have doubled as she now earns ̀ 6,000 per month as against ̀ 3,000 earlier. She has invested a part of the increased profits in fixed deposits with banks and hopes to add to these in the future. She is comfortably able to meet the educational expense of her children who go to reputed schools. She is also able to afford little luxuries of life such as watching a movie with her family.

“Pramila Devi’s Tailoring Business.”PRAMILA DEVI


Ranee Devi is a thirty year old ‘women micro-entrepreneur’. She has studied till the tenth standard. As a tailor, she used to earn ̀ 8,000 per month, stitching clothes for around 30 customers.

She was screened and selected by Utkarsh Welfare Foundation for capacity building and hand-holding support under the Mahila Udyami Sashaktikaran Program. She has been provided with business related training and has also been helped in business planning, particularly in identifying opportunities for increasing her income. The program has also helped her in maintaining simple records of her business transactions.

The business planning gave her confidence to start a cosmetics store to supplement her earnings by also selling cosmetic products to her customers. The program helped her in developing linkages with suppliers of cosmetics.

She has availed a loan of ̀ 50,000 from Utkarsh Small Finance Bank which helped her to purchase stock for her cosmetics store.

Ranee Devi now earns `14,000 per month, an increase of 75% over her previous earnings. She has hired two women to help her in the store. She has gained several customers – she estimates that the number of her regular customers is around 60. The increased earnings have allowed her to purchase several household assets including a fridge and air-coolers. She has always been a confident person which helps her in negotiating good deals with her suppliers. She believes her business will grow further with a little more hard work. She is hopeful that her family will enjoy a better life in the future, and they will never face any scarcity.

"Ranee Devi’s Business Diversification.”RANEE DEVI


OUR PARTNERS THROUGH THE JOURNEY

G.V. Meditech Pvt. Ltd.


REGISTERED OFFICES-2/641-34, Varuna Vihar Colony, J.P. Mehta Road, Cantt

Varanasi - 221002 (U.P.)Email ID : [email protected]

Contact No. : +91 75228 00125

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annual report fy 2018-19 · 2020. 11. 13. · about utkarsh welfare foundation board of directors...

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