Mon 21 Sep 2015 12:06PM

ADI alignment and need for bank account to receive funds

PP Priya Prakash Public Seen by 208

There is a need for a bank account to receive funds. The bank account holder will need to disburse the funds to Katmlara craftsmen.
Please use this discussion to define all the bank account options dependencies/solutions/needs.

Once there are 2-3 options/solutions/directions - put it for a vote so people can define which approach works best.



Diana irani Mon 21 Sep 2015 12:35PM

26 th is there Anual General meeting where there core group wants to talk amongst themselves .


Priya Prakash Mon 21 Sep 2015 12:36PM

Is this the proposal @Sajith was talking about?


Diana irani Mon 21 Sep 2015 4:57PM


Diana irani


Mugdha Sethi Tue 22 Sep 2015 6:38PM

Is this up for a vote, can we extend time?


Priya Prakash Tue 22 Sep 2015 9:23PM

we need to create a proposal which needs voting. I am going to try and create one now


Priya Prakash Wed 23 Sep 2015 7:38AM

please see attached file for context on voting options.

There is a need for a bank account for enabling funds to be received for all the projects DIF is supporting. DIF collective is currently in discussions with ADI so DIF can use their bank account. They have raised a bunch of requirements for this relationship to be in place. This has raised some pros and cons. We need to evaluate what the options are.

Option 1:
Go with ADI as bank account holder. Formalise relationship. Wait till account is registered, rules of engagement sorted, each fund member chips in membership fees to ADI ( upto Rs.50,000) so they can be a bonafide fund member. Follow ADI organisational policy and rules of engagement and disbursement. Become part of ADI community.

Option 2
We can approach the bank account issue in two phases. Phase 1 - Go with individual project beneficiaries and use crowdfunding where monies get directly into their account. Get some projects to showcase. Show impact build on momentum. Demonstrate to funders how money is utilised via the site and impact report. We need to agree on projects for V1 and roadmap deliverables so we can focus on which crowdfunding platform supports a project type best. See an example of Open Startups on how we can be transparent in our funding and impact. (https://baremetrics.com/open)

Option 3:
Register DIF as an entity. Get a bank account sorted for DIF and ensure all paperwork is in place for type of org etc. Create DIF as an independent organisation and spend time on setting this up from scratch with rules, membership platform, type of organisation etc.

In my original email to Di - had set out what I thought our focus was ( see Pri- Di email doc attached at end of this doc)

I am creating this voting option to clarify where we as a group stand on this bank account issue and subsequent relationship with ADI and others.


Diana irani Wed 23 Sep 2015 7:57AM

I think the school project is a good one to start where the amnts is not too large and impact can be measured relatively easily ?! I would start with option 2 as well and this will help Aline better with ADI backing but not there bank account at this stage keep it simple direct put energies towards proof of concept


siddhartha chatterjee Wed 23 Sep 2015 8:02AM

Option 2. Lean. Less bureaucratic fuss, fewer middle'men' between donors and deliverables. 2 enables either option 3 DIF or option 1 ADI (or combination) to be put in place 'on the shoulders' of Katlamara proof-of-concept momentum... The broader institutionalization probably requires the focussed initiative... Real world impact first (time-wise).


Priya Prakash Wed 23 Sep 2015 8:26AM

please vote on option 2 guys :) that's how Loomio works press the green thumbs up sign ;)


Shailaja Shah Wed 23 Sep 2015 8:53AM

I prefer option 2, where even though we are aligned with ADI, we are not bound by them. Our fund outline is still not clear, and it would probably be prudent to be slightly independent before signing any commitment. That way we still reserve the option (as would ADI) about signing up with them as the official entity or not, based upon the outcome of this funding and deployment exercise

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