Inside BharatATM Financial Inclusion Program

Hello readers,

In rural India, funding for women is still limited to self-help groups, many of which have dissolved over the years due to neglect and a lack of substantial effort to engage women in microfinance.

To address this and engage women in finance, neobank BharatATM launched a program in March called “Bank Sakhi” (sakhi means friend).

What the startup does is basically identify women in small towns and villages, partner with them and onboard them on the BharatATM platform so that they can start offering its services, such as cashouts /deposits, bill payments, etc., from their kirana stores, if they have one, or from home.

So far, the company has enrolled around 11,230 women in the program, across India. She piloted the project in Odisha, where she enrolled about 230 women in the program.

But why does BharatATM focus on women?

Ram Shriram, CEO and co-founder of Mahagram, the parent company of BharatATM, says Your story that even in households where men are the sole breadwinners, it is women who manage most of the money in terms of expenses related to groceries and household management.

“We realized that if we could enroll a few women and open a savings account for them, they would also help other women to set up their own account,” Ram said. Your story.

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Before you go, stay inspired with…

“It doesn’t matter whether the idea is new or not, whether there is a market or not, whether there is a USP or not…if you are willing to learn and unlearn quickly, you will be successful even if the startup Don’t do it, won’t succeed, and it will empower you and the people around you.

– Priya Sharma, Founder, Learning Dino

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