Grameen Foundation India paves the way for driving financial Inclusion in India's hinterland

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Grameen Foundation India paves the way for driving financial Inclusion in India's hinterland
Grameen Foundation India paves the way for driving financial Inclusion in India's hinterland

New Delhi : Mobile connectivity, internet banking, gender issues and empowering women were debated threadbare at a conference hosted by Grameen Foundation India (GFI) here on April 19.

The conference, themed "Driving Financial Inclusion in India's Hinterland", was organized in partnership with Bill & Melinda Gates Foundation. The conference promoted collaborative innovation to empower communities, particularly women, for a sustainable financial future in India's hinterland.

Grameen also presented four reports to the audience based on their previous work and future recommendations for the industry:

1: Gender Mainstreaming in Business Correspondent Network - Grameen's I-CARE Framework 

By implementing the I-CARE Framework, Grameen seeks to develop and share valuable insights on gender mainstreaming within BC networks for organizations working on financial inclusion.

2: Women-Friendly Micro-Saving Products

This report focuses on the innovative micro savings products geared towards women and how they can help the unbanked population and those at the bottom of the pyramid.

3: Assisted E-commerce and ONDC: A New Revenue Source for BC Agents in India 

This report highlights the need for increasing and diversifying the revenue of Business Correspondent (BC) agents in India, who provide financial services to underserved rural populations.

4: Exploring the Effectiveness of Low-cost Marketing Methods for Business Correspondents in India 

This report highlights the impact and key learnings from low-cost marketing initiatives conducted by Grameen Foundation India under BEADS, including Common Colour Branding and Whatsapp Video Marketing. It discusses the challenges faced by Business Correspondent Agents (BCs) in India, who act as intermediaries between banks and unbanked populations, and the need for marketing to improve their visibility, reach, and effectiveness.

Purna Roy Chowdhury, Associate Director – Gender and Women’s Economic Empowerment, Grameen Foundation India, said: "Grameen's innovative approach dismantles gender barriers, ensuring women's equal access and participation in BC networks, as highlighted in the released today titled ‘Gender Mainstreaming in BC Networks: Grameen’s I-CARE Framework and ‘Women Friendly Micro Saving Products’.

"Grameen is revolutionizing financial inclusion by bridging the gap with last-mile delivery services, empowering BC networks to thrive, following the ecosystem-based approach,” added Piyush Singh, Director – Innovations in Digital Finance, Grameen Foundation India.

The conference featured keynote speeches, panel discussions, fireside chats, and exhibitions focused on the role of digital innovation, gender sensitivity, and scalable solutions in driving financial inclusion.

Speakers included Jayshree Vyas, Managing Director, Shree Mahila Sewa Sahakari Bank; Chetna Gala Sinha, Founder, Mann Deshi; Pawan Bakhshi, India Lead for Financial Services for the Poor at the Bill and

Melinda Gates Foundation; Jiji Mammen, Executive Director and CEO, Sa-Dhan; and Sunil Kulkarni, CEO, BCFI.

Jiji Mammen, Executive Director & CEO of Sa-Dhan, emphasized the need for a comprehensive approach to financial health. 

"Financial inclusion is not just about access to financial services. It's about empowering individuals and communities to make informed financial decisions and achieve economic stability. This conference provided an opportunity for stakeholders to come together and work towards this common goal."

About Grameen Foundation India

Grameen Foundation India (GFI or Grameen), a wholly owned subsidiary of Grameen Foundation USA, is a leading social impact organization that specializes in designing and implementing innovative programs

to help the poor access finance, livelihood opportunities, and health & nutrition information. Grameen addresses demand-side and supply-side barriers through scalable models, the use of technology applications, and innovative partnerships. Working closely with Banks, Financial Institutions, farmers organizations and agribusinesses, we help people build assets, weather crisis, manage risk and become resilient. Since its inception over a decade ago, Grameen Foundation India is growing from strength to strength, deepening its impact to enable the poor, especially women to create a world without poverty and hunger.

For media queries, please contact:

● Tarun Kumar | +91 9873165382 | tkumar@grameenfoundation.in

● Ganita | +91 9518015296 | gdahiya@grameenfoundation.in