The Partnership Will Enable Business Formalization for 1,500 Women Entrepreneurs in Maharashtra
FinTech BizNews Service
Mumbai, October 21, 2024: BharatPe Group, one of India’s leading names in the fintech industry, has partnered with nasscom foundation to empower women entrepreneurs across multiple districts in Maharashtra. Under the ‘Formal Registration and Digital Market Linkage Program for Women Entrepreneurs’, 1,500 rural women from six districts of Ahmednagar, Beed, Buldhana, Latur, Sindhudurg, and Kolhapur have been provided with the tools to formalize and scale their businesses, facilitating their integration into the formal economy. Additionally, 250 women out of the 1,500 were also provided with market linkages thereby increasing their business opportunities and financial stability. This initiative is poised to make a significant impact on the lives of rural women entrepreneurs by enhancing financial inclusion and enabling the growth of their businesses.
The initiative, launched under the aegis of ‘BharatPe Cares’, a corporate social responsibility initiative by BharatPe Group, is in sync with the brand's purpose to empower lives through inclusive, innovative and reliable fintech solutions. The initiative rests under the CSR program of PAYBACK, a BharatPe company. The program is designed to support the formalization of MSME documentation and establish connections with the digital market for rural women entrepreneur-led enterprises. As a part of the program, individual women entrepreneurs from the Maharashtra State Rural Livelihood Mission (MSRLM) ecosystem were identified. Local Resource Persons (LRPs) were trained on various government schemes as well as relevant formalization and market linkage solutions. The LRPs further conducted training sessions for rural women entrepreneurs and are expected to provide continuous support to enable their business growth. The participants got an understanding of FSSAI licenses, Udyam registration, and Shop Act registration, as well as gained market access through platforms like MSME Global Mart, GEM, UMEED Mart and ONDC.
Speaking on the partnership, Mr. Nalin Negi, CEO, BharatPe, said "We are delighted to partner with nasscom foundation to advance rural women entrepreneurship in Maharashtra. At BharatPe, we are dedicated to promoting financial inclusion and unlocking opportunities for women entrepreneurs across the country. Over the past few years, we have partnered with Women Entrepreneurship Platform to enable women entrepreneurs across India in their journeys of self-reliance and business growth. With this initiative, we have been able to reach out to the rural women entrepreneurs and empower them with the right solutions to formalize their business and expand it to newer markets, enabling their business growth. This partnership marks a pivotal step in BharatPe’s mission to drive inclusive financial empowerment across India. By partnering with nasscom foundation, we continue to contribute positively in further empowering women entrepreneurs, including the rural women, to reach their full potential and contribute to India’s growth story.”
Rostow Ravanan, Chairperson, nasscom foundation, added, “We are thrilled to partner with BharatPe to empower rural women entrepreneurs across Maharashtra by equipping them with the skills and resources needed to thrive in business. This initiative aligns perfectly with our commitment to create sustainable livelihoods and drive economic independence for women in rural areas. By providing essential training, digital market linkages, and access to government schemes, we have not only supported these women transition into formal businesses but also enabled them to unlock their full potential and build self-reliance.
