Mutual Benefit Scheme was first introduced in March 2001 after thorough deliberations in the Annual State Council meeting held at

Thiruvananthapuram in November 2000.
The aims are:
1) to provide financial support to the members
2) to provide the habit of thrift amongst the members
3) to encourage financial planning amongst the members
4) to support the activities of IMA Kerala State Branch.

Any member of IMA Kerala State Branch or an institution run by IMA members is eligible to become a  member of the Scheme by
joining any of the projects of the Scheme. Every member shall pay in monthly installments an amount depending on the project under
which he joins. Total number of members in each project is  20 and IMA Kerala State Branch shall be a non-paying   member in all
projects. The monthly installment is due on 20th of every month and the monthly beneficiary will be selected by picking up lots on 25 of
every month at office of the Secretary / IMA State Headquarters. The member who needs the Beneficiary amount should sent request to the secretary in advance and the amount will be paid on receipt of Promissory note duly signed and an undated cheque for the amount receivable, payable to Mutual Benefit scheme of IMA. Receipt for the amount received should be sent to secretary as early as possible for our records for auditing purpose.

Project            Total amount                 Beneficiary                 Monthly
Installment                  Payable

A                      Rs.100000                      Rs. 80000-100000        Rs. 5000
B                      Rs.200000                      Rs.160000-200000       Rs.10000
C                      Rs.500000                      Rs.400000-500000       Rs.25000

Member need to pay only 19 installments:

MODIFIED SCHEME SCHEDULES AND PAYMENT DETAILS

Sl.No.               Scheme A                        Scheme B                        Scheme C

                        (Rs.5000/- P.M)                (Rs.10000/- P.M)                 (Rs.25000/- P.M)
1                       Rs.100000                      Rs.200000                         Rs.500000 for IMA
2                       Rs. 80000                       Rs.160000                         Rs.400000
3                       Rs. 81000                       Rs.162000                         RS.405000
4                       Rs. 82000                       Rs.164000                         RS.410000
5                       Rs. 83000                       Rs.166000                         RS.415000
6                       Rs. 84000                       Rs.168000                         RS.420000
7                       Rs. 85000                       Rs.170000                         RS.425000
8                       Rs. 86000                       Rs.172000                         RS.430000
9                       Rs. 87000                       Rs.174000                         RS.435000
10                     Rs. 88000                       Rs.176000                         RS.440000
11                     Rs. 89000                       Rs.178000                         RS.445000
12                     Rs. 90000                       Rs.180000                         RS.450000
13                     Rs. 91000                       Rs.182000                         RS.455000
14                     Rs. 92000                       Rs.184000                         RS.460000
15                     Rs. 93000                       Rs.186000                         RS.465000
16                     Rs. 94000                       Rs.188000                         RS.470000
17                     Rs. 95000                       Rs.190000                         RS.475000
18                     Rs. 96000                       Rs.192000                         RS.480000
19                     Rs. 97000                       Rs.194000                         Rs.485000
20                     Rs. 98500                       Rs.197000                         RS.492500
21                     Rs. 100000                     Rs.200000                         RS.500000
Even if no one requests for advance payment in a month draw will be taken and amount will be paid to the member whose name comes up in the draw