Mumbai: On the occasion of the 75th Independence Day, PayNearby, India’s leading branchless banking and digital network, launched a ‘zero investment plan’ for women entrepreneurs at the last mile, across 20,000+ PIN codes.
This comes as an extension of its Independence Day campaign, Pragati Mahotsav, which celebrated the contribution of its retail partners.
In addition to accelerating the national vision of financial inclusion for all, the initiative aims to build financial independence among rural women of India by waiving business account opening fees and thereby inspiring women at the last mile to join the nation-building movement.
The company aims to onboard 10 lakh+ women entrepreneurs by FY23-24.
With Sashakt Naari, Sashakt Samaaj, and Sashakt Desh at its core, the Women’s Sustainable Employment campaign looks to ensure that every household in India has a woman financially capable of taking care of her family and thus create an empowered society and an empowered nation.
PayNearby’s ‘zidd’ is to upskill all women and bring them up the employment curve so that they contribute equally to the growth of the economy, to build a more inclusive and sustainable society.
Commenting on the development, Anand Kumar Bajaj, Founder, MD & CEO, PayNearby, said: “A country progresses when its women become equal participants in the progress. While the pathway to women’s enablement is many, one of the most important facilitators is financial empowerment. It is important women have access to digital and financial tools that give them better control over their earnings and savings.
“With women as our partners, it will ensure seamless delivery of accessible banking services to every section of the society while uplifting their social standing.”
Speaking about the campaign, Jayatri Dasgupta, Chief Marketing Officer, PayNearby said: “While Pragati Mahotsav was an ode to PayNearby’s retail partners who are persevering to make Bharat a financially and digitally inclusive nation, the ‘Women Sustainable Employment’ campaign serves as its perfect finale.
“In India, close to 48 percent of the rural population is female. However, owing to societal construct and low literacy rate, they have very little or no access to any form of financial services or employment.
“The distribution of Free Business Accounts/banking IDs will allow women, in the rural hinterlands, to easily become the banking and digital points of their areas so that essential financial services can reach every home. With PayNearby, women will learn about cash management, savings, banking, insurance, and other financial services that will, in turn, bridge the gender gap at the last mile.”