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Paytm AshaKiran Partners with Grameen Foundation to enable Rural Women & Youth with self- employment

When Doorstep Banking is the new trend; educating youth as well as rural women with relevant information is equally important.

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Paytm AshaKiran Partners with Grameen Foundation to enable Rural Women & Youth with self- employment

When Doorstep Banking is the new trend; educating youth as well as rural women with relevant information is equally important.



What is the initiative all about?

• Providing skill-based training for doorstep banking, financial literacy and wealth management
• Announces its pilot project for Nagpur and Bhandara districts of Maharashtra, aims at training over 300,000 people this year

5th July 2018, New Delhi: Paytm AshaKiran, an initiative by Paytm Payments Bank and Grameen Foundation for Social Impact (GFSI) have entered into a partnership to provide self-employment opportunities in banking and finance to rural women & youth. Under this partnership, both companies will provide job oriented training. This program aims at increasing financial literacy and inclusion among unbanked and underbanked segments

For its first phase, a pilot has been planned for the Nagpur district of Maharashtra that will potentially reach to over 300,000 people and educate them about Financial Education and Digital Financial Literacy by the end of the current financial year. The project will continue to extend this opportunity to several smaller cities and towns across Maharashtra, Karnataka, Haryana, Andhra Pradesh, Uttar Pradesh and other states across India.

Grameen Foundation will leverage G-LEAP (Grameen Learning Platform), - an Android-based mobile learning platform and Grameen Guru, an Augmented Reality based Chatbot application, to help train and equip people. While Paytm Payments Bank will render its holistic banking and entrepreneurship training to help these individuals and promote self-employed.








Renu Satti, MD & CEO – Paytm Payments Bank said, “ We are excited to partner with the Grameen Foundation in our endeavor to empower rural India. We are constantly striving towards making them understand the financial services sector and helping them to join the mainstream economy. Our aim is to bring uninterrupted banking and financial services access to the remotest villages in our country. We will continue to focus our efforts towards supporting and educating rural women and youth, helping them move towards financial inclusion.”
Speaking on the occasion, Prabhat Labh, CEO of GFSI, said, “This partnership brings together Grameen Foundation’s unique strengths in technology-enabled learning, human-centred design and deep understanding of barriers and challenges faced by underserved communities and innovative digital finance and payment products of Paytm Payments Bank to offer an effective and scalable solution for livelihood development and financial inclusion of women and youth”.

This project will also build on the success of earlier Grameen Foundation projects to digitize operations of microfinance institutions through Aadhaar Enabled Payments (AEPS), deployment of Interactive Voice Response based learning, implementation of Business Correspondent model in MFIs and promoting goal-based savings amongst low-income women.

About Paytm Payments Bank:

India’s largest digital bank, Paytm Payments Bank is the only bank providing zero balance accounts and zero charges on digital transactions. Paytm Payments Bank aims to build a new business model in the banking industry that is focused on bringing financial services to 500 million un-served or underserved consumers across India. With Renu Satti as its MD & CEO, it is headquartered in the National Capital Region, India. Paytm Founder and CEO, Vijay Shekhar Sharma owns a majority stake in the company, and One97 Communications Ltd owns the remaining share. The Bank has P Vijayabhaskar – Ex-Executive Director, RBI; Ash Lilani - Managing Partner and co-founder of Saama Capital and G.S. Sundararajan – EX-Managing Director at the Sriram Group as Independent Directors.




About GFSI:

Grameen Foundation for Social Impact (GFSI), is a not-for-profit organization which undertakes activities and services that impact the lives of low-income people. A wholly owned subsidiary of Grameen Foundation India, GFSI’s mission is to “Enable the poor, especially women, to end poverty and hunger”. Inspired by the work and ideals of Nobel Laureate Prof. Mohammad Yunus, GFSI provides strategic and technical expertise to leading social enterprises, financial and health services providers working with women and other underserved sections. Working with partners, it makes financial services, health and agricultural information accessible through the use of digital technology, human-centric design, and community-based agent networks. l
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