We the Self-Employed
SEWA'S electronic newsletter
No. 23 November 2009
The chief guest of the inaugural ceremony, Mr. Suresh Mathur, Joint Director, IRDA, was then invited to guide the functioning of National Insurance VimoSEWA Cooperative. Mr. Mathur congratulated SEWA and VimoSEWA for creating a huge work for the betterment of the marginalized sector of informal workers and especially of women workers. He explained the concept of micro insurance and its need in the Indian economy. He further stressed the importance of liberalization and globalization of micro insurance. He also emphasized the fact that IRDA would be able to understand the difficulties and issues faced by insured members of the informal economy, through activities of SEWA’ National Cooperative. With this knowledge, efforts can be channelized in the direction of covering more and more workers.

Elaben Bhatt too stressed on the importance of economic and social security of women workers in the informal economy and provided a brief gist of the SEWA movement in its early days.

After congratulating the Cooperative for its registration she indicated the future course for the National Cooperative. She stressed that in order to make the insurance business viable, the Cooperative would have to work towards building economically strong assets of its own.

She also requested help from the government in terms of tax cutting as organizations like VimoSEWA Cooperative would work for the poor and marginalized sectors. She also appealed to IRDA for keeping its various administrative and financial procedures simpler for easier and more efficient functioning of organizations like National Insurance VimoSEWA Cooperative. She then appealed to IRDA to review the issues like equity requirements specifically for micro insurance.She a appealed to the Cooperative that share holders should get dividend from the 2nd year onwards and to work towards this goal. 

20 new members (share holders) were nominated and approved by the existing members.
From these new members and the existing members, the Board of Directors for National Insurance VimoSEWA Cooperative were elected.  Elaben Bhatt explained that it would be a multi-state cooperative and the Board of Directors would function for 3 years.

The function was followed by a skit presented by the team from Madhya Pradesh on the importance of insurance.  


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