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Ujjivan Small Finance Bank & Haqdarshak to empower MSMEs in India

By Gloria Mathias

October 09, 2023

  • Banking Solutions
  • Entrepreneurship
  • Financial Inclusion
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Ujjivan Small Finance Bank, Haqdarshak, Financial Inclusion, India, Banking Solutions, Social Welfare, MSMEs, Ujjivan Small Finance Bank (Ujjivan SFB) and Haqdarshak (HQ), a social and financial inclusion enterprise, have joined forces to empower the nano and MSME entrepreneurs in India.

Ujjivan SFB and HQ have developed a unique Financial Literacy Program to bridge the knowledge divide among Nano and MSME entrepreneurs.

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. This partnership also aligns with RBI’s broader goal of fostering a financially inclusive and resilient society.

The programme will include in-person training on the exclusively developed content, hands-on exposure to the HQ app for scheme identification, and continuous skill development. The engagement will be through interactive elements and visuals, with monitoring through real-time data on applications, categories of programmes, and benefits channelled.

Aniket Doegar, Chief Executive Officer of Haqdarshak, stated, “The partnership will be an important step in India’s effort to foster entrepreneurship. The commitment and expertise of Ujjivan SFB to provide banking services to unserved and underserved segments and provide innovative solutions for MSMEs will be crucial to the success of Haqdarshak’s project. This programme will empower grassroots entrepreneurs and aligns with our vision of providing social security and financial inclusion to 100 million citizens by 2030.”

Ittira Davis, MD & CEO, Ujjivan Small Finance Bank, said, “We believe that by offering financial knowledge and resources to Nano and MSME entrepreneurs, we can assist them in navigating the complexities of business and personal finance more effectively. The expertise and technology platform of Haqdarshak will be instrumental in reaching and assisting MSMEs nationwide. Our initiative aligns with our mission to promote financial inclusion and prosperity for all segments of society.”

 

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