Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Industry News

| More

Home Credit Partners with SEWA Bharat to restore livelihoods of nano entrepreneurs

Posted On: 2021-04-15 07:14:02 (Time Zone: UTC)


Home Credit India, an Indian arm of the international consumer finance provider with operations spanning across Europe and Asia and committed to driving financial inclusion, in partnership with SEWA Bharat has launched a livelihood project for nano entrepreneurs. Nano entrepreneurs refer to individuals who start their venture with very less capital. In line with Home Credit's bandwagon to drive Financial Inclusion and Financial, Digital Literacy in the country and enable entrepreneurship, the project aims to help the nano-entrepreneurs who are unable to resume work due to loss of capital.

The project is in line with government's agenda of Atmanirbhar Bharat and Vocal for Local aims to equip and empower over 500 artisans from Bihar, West Bengal, Delhi, Punjab, and Uttarakhand. These nano entrepreneurs come from marginalized backgrounds and work as artisans, rural weavers, shoemakers; Papad makers, lac product makers, Tie and Dye producers, garment and embellishment manufacturers, necklaces, rakhis, food products.

Throughout the activity these women will be reskilled and trained to reach the markets or acquire the means and ways of selling which will largely be digital. Pandemic has changed the product consumption patterns and the styles. These entrepreneurs will now have to learn new designs, patterns in weaving for revival of their livelihoods. We would be providing them with raw materials along with guidance on product development through virtual training sessions. This would help them to develop an entire new range of products which would be sold later in the mainstream market and help them earn money.

Commenting on the partnership with SEWA Bharat, Ms. Nidhi Malik, Vice President, CSR and Communications, Home Credit India said, 'Responsible lending is the cornerstone of our business at Home Credit. Over the years we have been actively imparting Financial and Digital literacy to educate our customers and society on the basics of Financial management, budgeting, investing, saving money etc. With this partnership our endeavor is to widen financial outreach and create opportunities to make more and more individuals 'Self-Reliant. 'The pandemic has led to loss of capital for a majority of nano entrepreneurs and disabled them to start afresh. Our partnership with Sewa Bharat on this mission is to enable these artisans to restore their livelihoods and more importantly the confidence. Through this humble initiative we aim to impart the desired digital and financial skills to make these 500 nano entrepreneurs bounce back and become self-reliant.

Commenting on the partnership with Home Credit India, Ms. Sanchita Mitra, National Coordinator, SEWA Bharat, said, "The COVID-19 lockdown has negatively affected the livelihoods of many mostly invisible poor people. SEWA works in many States namely Bengal, Bihar, Delhi, Gujarat, Kerala, Madhya Pradesh, Nagaland, Orissa, Punjab, Rajasthan, Uttarakhand, and Uttar Pradesh. Within the SEWA membership, large numbers of informal sector workers are part of the global supply chain either as nano entrepreneurs or linked with local informal contractors or middlemen for work. For the home-based artisans and weavers, the model of middlemen which gave them business, disintegrated. In some cases, middlemen completely disappeared, leaving artisans and weavers without any leads to the market. They continue to look for market and arrangement for raw material. They are also adapting to the digital world to enhance skill, access to finance and government schemes".

She further added, "We are incredibly happy to announce that SEWA Bharat has partnered with Home Credit to support 500 artisans & weavers with raw materials and product development at a time of extreme need. This association would also help in building up their capacity to deal with this newly adopted virtual marketing space. We stand grateful to Home Credit and hope to make a long-term impact on the lives of these women and their families, together. We look forward to more and more meaningful work in the future."

As per the industry figures 94% of India's female labor force, informal economy women workers continue to struggle for protection. With this initiative HCIN's vision is to impact 1.9 million informal women workers, across a diverse range of activities, over the due course of time.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com


Other Headlines:

Meesho Becomes the First E-commerce Marketplace to Offer Zero Percent Commission to Sellers

Media processing company Gumlet raises USD$1.6 million in funding led by Sequoia Capital India's Surge

Fino Payments Bank's QR code based UPI solution to drive P2M digital payments

CM Naveen Patnaik performed Inauguration/ Ground-breaking of 14 industrial projects worth INR 1,537.07 Crore

GO FIRST Marks a stellar growth in market share to 8.3%

Vikram Solar becomes India's largest module manufacturer with upto 2.5 GW capacity

Sales share of Noida and Greater Noida in NCR was 49% in H1 2021: Report

Light Microfinance garners US$ 10 million in Series-A funding

Zurich Airport International AG signs shareholder agreement for the development of Noida International Airport

Alstom begins manufacturing of modern commuter & transit trains for Delhi-Ghaziabad-Meerut RRTS project

FedEx Express and Delhivery Come Together to Unlock Cross-Border Potential in India

Bridgeweave launches AI-powered InvestorAi - Your Personal Investment Analyst

TO THE NEW becomes a Partner of Google Cloud Platform

RAIN Technologies proudly launches RAIN TRADER, a marketplace for fully automated, algorithmic investing and trading models

Safexpress launches its 62nd ultra-modern Logistics Park in Navi Mumbai

DBS Bank India grows profitability despite impact from amalgamation of Lakshmi Vilas Bank

Green Soul raises Rs 1.5 Cr in revenue-based financing from Velocity

Liberty General Insurance Launches #Liberty365

CapitaLand launches second S$400 million logistics private fund in India

SBM Bank India collaborates with Drip Capital to empower MSME Exporters

Flipkart Wholesale launches digital platform in Bihar

Tata Electronics and SASTRA University join hands to foster deep domain expertise in electronics design and manufacturing

PRIME Database and Acuité Ratings collaborate to offer a comprehensive database on credit rating migrations

Bharti Axa Life Insurance reports 10% growth in renewal premium for year ended March 31, 2021

ICAI Partnering MSMEs to Bolster them on Global Map

BANKIT's new business unit to offer customizable prepaid cards for MSMEs, startups and corporates

Pune attracted institutional investments of ~INR 9,600 crore during 2015-20; 77% accounted for offshore investors: JLL

NCML Announces Corporate Name Change to National Commodities Management Services Limited

Bharti AXA Life Insurance appoints Rahul Bhuskute as Chief Investment Officer

SVC Bank clocks record Profit of INR 150.21 Crore in FY 2020-21

64% of outdated Grade A office space in India presents an estimated INR 5,500 crores of untapped investment value: JLL

Compact office demand increasing in post-COVID scenario

Indian data center sector to require $3.7 billion of investment by 2023 to meet demand: JLL

Aluminium Industry reiterates urgency for 5% RoDTEP rate for economic sustainability

Cold chain logistics expected to grow by over 20% CAGR by 2025: JLL

Emerging trends in the consumer durables industry in the 'new normal' - Parag Kulkarni, MD, A. O. Smith India

Five Years of RERA have been transformational for the Realty Industry

Fino Payments Bank goes live with enhanced deposit limit of ₹2 lakh

Ageas Federal Life Insurance launches Saral Pension

Manipal Hosptials completes the acquisition of 100% stake in Columbia Asia Hospitals in India

Leading EV manufacturer Komaki Creates New Battery Technology that boasts of a blistering 220+ km range

Government of Odisha approves 9 new industrial projects worth INR 2570.54 Crore at the 100th SLSWCA meet

SIAM hosts 12th Lecture Series on Hybrid and Electric Vehicles in India: Development, Testing & Homologation

Top 5 Startups Fueling Innovative Financial Inclusion Solutions in India

Tech Trends that will Rule the Gaming Industry in 2021

LIC's Branding Rights of Andheri Metro Station, campaign executed by Times OOH

Bharat Biotech to expand COVAXIN® capacity to support vaccination campaigns in India and Worldwide

Lowering age to 18 yrs for vaccination, decisive step to restore confidence, says ASSOCHAM

Ascendas India Trust secures maiden S$100 million sustainability-linked loan from UOB

Noida International Airport begins the pre-qualification process for airport development and construction tender


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020