Airtel Payments Bank, Frontier Markets, and Mastercard Center for Inclusive Growth launched She Leads Bharat:Udyam, an initiative to empower 100,000 women-owned small businesses with resources and opportunities for income growth. The initiative was announced at the Asia Inclusive Growth Forum, where over 100 leaders discussed inclusive growth in India and the global south.
Frontier Markets is launching an initiative to empower 100,000 women-owned small businesses in Rajasthan and Uttar Pradesh through its Meri-Saheli platform. 10,000 of these businesses will become Airtel Payments Bank Business Correspondents (BCs) to unlock additional revenue streams. The initiative aims to empower women-owned small businesses by providing access to affordable and inclusive banking services. Women-owned micro, small and medium enterprises (MSMEs) make up 20% of India’s MSMEs but receive only 5% of public-sector bank financing.
Despite their challenges, proper support can lead to increased hiring, credit repayment, and income sharing, contributing to inclusive economic growth. Anubrata Biswas, MD&CEO, Airtel Payments Bank said, “Taking our commitment forward to empower women in rural India to embark on their entrepreneurial endeavours, we are collaborating with Frontier Markets and Mastercard on She Leads Bharat:Udyam”.