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:

CRISIL awards highest grading to Muthoot Microfin for fourth consecutive year

Tata Capital introduces Digital 'Loan Against Mutual Funds'

India Post Payments Bank in Strategic Alliance with Tata AIG General Insurance for Non-Life Insurance Products

JLL names Indian-origin Siddharth Taparia as Chief Marketing Officer

PharmEasy to hire 200+ engineers and launch New Development Centres in Hyderabad, Pune & NCR

Kotak Special Situations Fund invests Rs 1000 crore in TVS Supply Chain Solutions Limited & promoters of TVS Family

SBM Bank India collaborates with Lendingkart to market unique tailormade Overdraft facility

SBM Bank India Collaborates with OneCard to extend mobile-based credit cards

SVC Bank appoints Mr. Ashish Singhal as Managing Director

Liberty General Insurance offers special Travel Insurance for flight bookings on Yatra

India Ratings upgrades Muthoottu Mini Financiers debts instruments Ratings

BANKIT expects Rs 30,448-cr gross transaction value in current fiscal

Muthoottu Mini's NCD Public Issue Open, Effective Annualized Yield up to 10.47%*

Flipkart Wholesale plans to more than triple footprint in India by December to serve Kiranas

Go First, strengthen global presence through partnership with WorldTicket and Discover the World

Paytm Insurance Broking has 11.3 million customers who bought over 31 million insurance products

CreatorStack raises US$ 2mn in seed, led by Accel

Go First inducts 49th Airbus A320Neo Aircraft to its fleet

India INX expands product portfolio and permit trading in international stocks

Yamuna International Airport Pvt Ltd achieves financial close for Noida International Airport development

Tribal Women of Raj Uphaar Power Go First's New In-Flight Menu

BOI AXA Investment Managers appoints CEO

Revery raises US$2 million in pre-seed funding led by Sequoia Capital India

JLL launches residential property portal JLLHomes.co.in

Bharat Biotech's ROTAVAC 5D® Receives WHO Prequalification

B2B FMCG wholesale platform Apnaklub raises US$3.5 million in funding from Sequoia Capital India's Surge

Snapdeal's fashion sales up 210% in 2021

Strata raises $6 million in Series-A funding led by Kotak Investment Advisors, Gruhas Proptech, Sabre Investments and existing investors

Home Credit India is now Great Place to WorkR 2021 Certified

Housing sales may see a spurt of 20-35 % in the upcoming monsoons months: JLL

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


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

disclaimer copyright © 2005 - 2020