Airtel Payments Bank, in collaboration with Mastercard and Frontier Markets, has launched the She Leads Bharat: Udyam initiative with the aim of empowering 1 lakh (100,000) women-owned small businesses in India. The initiative is focused on supporting women-owned businesses in Uttar Pradesh and Rajasthan by providing them with opportunities to learn and earn through the ‘Meri Saheli Platform’.
Empowering Women-Owned Businesses
The She Leads Bharat: Udyam initiative is geared towards addressing the challenges faced by women-owned micro, small, and medium enterprises (MSMEs) in India. Despite comprising over 20% of MSMEs, these women-led businesses receive only 5% of the total financing provided by public sector banks. Additionally, women entrepreneurs in India often lack digitization and adequate training to effectively expand their businesses.
The Meri Saheli Platform
Through the She Leads Bharat: Udyam initiative, Airtel Payments Bank, Mastercard, and Frontier Markets aim to bridge this gap by leveraging the ‘Meri Saheli Platform’. This platform will provide women-owned businesses with the necessary tools, resources, and training to grow their enterprises. The initiative is especially focused on women entrepreneurs in Uttar Pradesh and Rajasthan, two states with a significant number of women-led businesses.
Opportunity for Business Correspondents
As part of this initiative, 10,000 women entrepreneurs will be selected to become Airtel Payments Bank Business Correspondents (BCs). These BCs will play a vital role in extending banking and financial services to underserved rural areas, contributing to the overall financial inclusion and empowerment of these regions.
Financial Inclusion and Inclusive Growth
Airtel Payments Bank’s Managing Director and CEO, Anubrata Biswas, expressed the bank’s commitment to empowering women in rural India through this initiative. He highlighted the collaboration with Frontier Markets and Mastercard as a step towards building a financially inclusive economy. While over 20% of MSMEs are owned by women, their access to financing remains disproportionately low. When provided with the right support, women entrepreneurs are more likely to positively impact the economy, repay credit, hire more women, and contribute to their families and communities.
Inclusive Growth and Empowerment
Ari Sarker, President of Asia Pacific at Mastercard, emphasized the importance of empowering women entrepreneurs in India’s workforce. He noted that by providing these business owners with access to credit and digital tools, they can continue to expand and enhance their resilience. This, in turn, benefits their families, employees, and communities, aligning with the concept of inclusive growth.
The She Leads Bharat: Udyam initiative by Airtel Payments Bank, in collaboration with Mastercard and Frontier Markets, holds the potential to create a significant positive impact on women-led businesses in India by providing them with the necessary resources, training, and opportunities to thrive in today’s evolving economic landscape.
