Chennai: Ujjivan Small Finance Bank (Ujjivan SFB), India's leading Small Finance Bank, and Haqdarshak (HQ), a social and financial inclusion enterprise, have joined forces to empower the nano and MSME entrepreneurs in the nation. Ujjivan SFB and HQ have developed a unique Financial Literacy Program to bridge the knowledge divide among Nano and MSME entrepreneurs. Through this programme, the Bank aims to reach around 15,000 individuals within the next three years.
The primary objective of this partnership is to equip the target audience with the necessary knowledge and tools to make informed financial decisions and minimise risks. The collaboration will provide access to government and welfare programs using Haqdarshak's technology-enabled model addressing last-mile connectivity. Haqdarshak's HQ App is designed to help citizens explore and apply for government and private welfare programs with trained community agents known as Haqdarshaks.
According to the Ministry of MSMEs, India's MSME sector is vital to the country's economic development, contributing approximately 30% of the country's GDP and employing approximately 1.1 Crore people; therefore, empowering them is crucial. This partnership also aligns with RBI’s broader goal of fostering a financially inclusive and resilient society.
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