Guwahati Eimi Lomgol (GEL/GELOM) launched

The innovative idea of breaking some socio-economic barriers impregnated from informal after-sunday services discussions of like-minded persons spearheaded by Helun Hangshing, Manglet Haokip, Lalboi Lhungdim, Haupu Khongsai, Khaipao Haokip, Mangneo Lhungdim and few others finally has seen the light of the day on 7th October 2007 when representative members officially launched the Guwahati Eimi Lomgol (GEL/GELOM) at the residence of Mangneo Lhungdim, Beltola.

The 10 founder members includes, Helun Hangshing, Haoneo Hangshing, Mangneo Lhungdim, Manglet Haokip, Khaipao Haokip, Lhingboi Tuboi, Chonneo Haokip, Jamkholal Lhungdim, Haopu Khongsai and Kailen Singson.

GEL Articles of Association (Drafted by Jamkholal Lhungdim)

1. Proposed Name: Guwahati Eimi Lomgol (GEL)/(GELOM); any other suggestion….etc

2. Temporary office: Residence of Mr. Mangneo Lhungdim at 104, Gourikund Aprts, Ranibagan Housing Estate, Tiniali, Beltola, Guwahati-28

3. Purpose: Sustainable SAVING through group approach

4. Objectives: (Primary)

(a) To render financial assistance to the group member with nominal interest
(b) To augment the income of the members through the lending of its corpus fund (see Art. No. )
(c) To extend financial assistance to other needy members of the community with nominal rate of interest as far as possible.
(e) To create a forum where issues relating to the Kuki community in Guwahati in particular and the whole Kuki community in general can be discussed.
(f) To experiment & explore the possibility of further expansion and upgration of the group for all practical purpose.

5. Membership:

(a) Initially the nos. of member will be restricted to 10 (ten) [see Art. 9] till further agreement is made otherwise by the founder members.
(b) All the members are expected to contribute their share and retain their membership till the last member gets it share of the group contribution
(c) After all the members get their share, any willing member may withdraw his/her membership, and he/she will be entitled to receive ½ of his monthly contribution (Lets review this)
(d) Any newly inducted member shall have to pay the same amount of the contribution made by the other members till the time of induction;
(e) The amount contributed by the new member shall be incorporated as the corpus fund and his/her entitlement and liability will be the same as the other members subsequently.

6. Monthly contribution & distribution:

(a) Each member shall have to contribute & submit a sum of Rs. 1000 (one thousand) on every 1st Sunday of the month starting from the 7th Oct. 2007
(b) The amount thus brought together by the members will be given to one lucky member by draw of lot and only the remaining members will be entitle to the subsequent monthly LUCKY DRAW
(c) Each recipient of the Lucky draw shall contribute a sum of Rs. 1000 (one thousand) only to the corpus fund
(d) For the subsequent month, each recipient of the Lucky draw shall contribute an additional amount of Rs. 50 (fifty) only over and above his/her normal monthly contribution.
(e) Incase of a member draw winner not willing to take the distribution, the GEL will decide to pass it on to a willing member who is yet to be a draw winner.

7. Lending of the corpus fund:

(a) The corpus fund thus collected from the members can be given as loan to the other non-recipient members or even to person outside the group on priority basis with nominal rate of interest
(b) The rate of interest for the members will be 2% and 3% for others
(c) Any one member of the GEL will have to stand as surety for those loan to other
(d) All monetary transaction has to be decided/approved only during the monthly meeting of the members
(e) Charitable contribution may be accepted or given according to the circumstances and availability of resources

8. Accounting & Bookkeeping:

(a) A separate bank account is to be opened at SBI by Pu Manglet & Pu Khaipao (jointly/ individually)
(b) A Finance record of the income, interest earned, loan disbursed, repayment, expenditure etc is to be maintained on rotation within the membership and shall be updated every meeting. For the first few months the same will be maintained by Pu. Mangneo
(c) Since all or most members have access to internet and computer, the updates will be done through email and also simultaneously in the blog: http://guwahatieimi.blogspot.com/

9. List of Founder members:
(1) Gl. Helun Hanghing Education
(2) Gl. Haoneo Hangshing PNB
(3) Pu Mangneo Lhungdim NGO
(4) Pu Manglet Haokip SBI
(5) Pu Khaipao Haokip SBI
(6) Pu Jamkholal (Lalboi) NGO
(7) Haopu Khongsai NEEPCO
(8) Gl. Kailen Singson Railways
(9) Ng.Chonneo Haokip Business
(10) Ng. Lhingboi Tuboi Medical