Tata International’s women workers under Affirmative Action avail of discounted finance for two wheelers
June 04, 2015
It was my dream to have my own vehicle, but my financial condition was not supporting me to take a loan. I am very thankful to Tata International who helped me in this cause.
As part of a recent initiative under the AA programme, the women workers at the footwear unit in Dewas were provided an opportunity to buy their own two wheelers. The scheme was customised to address the requirements of the women who need to run household errands or shop for groceries and other items after work hours without having to struggle with public transportation after a long day at work. The women, belonging mostly to the Affirmative Action (AA) or disadvantaged communities and the lower income strata, spend most of their earnings on fulfilling basic needs of the family and on children’s education. Working for TIL has given them financial independence and many of them dreamt of owning their own transport. They had so far been unable to save the money required for this, nor were they able avail of any credit facilities, as banks were unwilling to extend finance to them due to their income levels.
TIL understood their needs and decided to support them, sought a financier who could provide finance to its employees at a reasonable rate of interest. A local automobile sales agency supported the scheme by offering discounts on the showroom price on select models as well as accessories.
26 women availed of this facility and received their vehicles within a week of approval of the loans. The women are now proud owners of their own vehicles.
As one of the beneficiaries stated:
My husband works in the company, but he works in the second shift. Now that I have my own vehicle, I can independently handle my household errands.
TIL is constantly envisaging ways of making its workforce, especially women in its footwear units in Dewas and Chennai, more empowered as the company understands that a business can be truly sustainable only when its people benefit.