Empowering Women Through Digital Finance

India has surpassed China with 25.5 billion digital transaction in 2020 and expected to grow to 70% of digital transaction in by 2025. However, there is an unprivileged section of Indian society especially the rural population where digital economy has not reached yet. To fulfil the dream of “Digital India”, this deprived section of our country should be educated about digital finance.

In order to strengthen the digital ecosystem for underserved sections of the population, Sa-Dhan with financial support of HSBC has initiated a project “To Develop a Digital Ecosystem for Improving Access to Finance for the Unbanked”. By considering the nature of business, Pahal has joined hands with Sa-Dhan to spread awareness amongst their clients, as MFIs are crucial link between underserved section and digital technology.

Digital inclusion would help the community in many ways viz. accessibility to finance through various channels, mitigate cash carrying risks, customer centric offerings, availing benefits of flagship projects of Government of India and State Governments and so forth.

Components of the training included: Presentations and Discussion. Introduction to Digital payment systems, benefits of using the same, Do’s and Don’ts. The objective was to guide the borrowers that money is safer in Banks and bank accounts should be used more actively. Secondly, to create awareness about the benefits of using ATMs and digital financial services and the risks associated with them.

The training also covered behavioral science for MFI Loan officers which was shared with the Field Coordinators.

The 6 days training took place from 18th April to 23rd April in Ahmedabad. The borrowers from Ahmedabad branches attended the workshop. Over 550 borrowers were benefitted from the training program.