Ujjivan Small Finance Bank (Ujjivan SFB) and Haqdarshak have partnered to create a Financial Literacy Program to help India’s nano and MSME entrepreneurs. The program aims to bridge the knowledge gap among these entrepreneurs, with the bank aiming to reach around 15,000 individuals within three years.
The partnership aims to provide the target audience with the necessary knowledge and tools to make informed financial decisions and minimize risks. It will use Haqdarshak’s technology-enabled model to provide access to government and welfare programs, with the HQ App assisting citizens in exploring and applying for these programs. Mr. Aniket Doegar, Chief Executive Officer of Haqdarshak, stated at the time, “This programme will empower grassroots entrepreneurs and aligns with our vision of providing social security and financial inclusion to 100 million citizens by 2030.”
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.