Mumbai: L&T Finance Ltd. (LTF), one of the leading Non-Banking Financial Companies (NBFCs) has empowered over 42 lakh community members so far through the ‘Digital Sakhi’ programme which is a key initiative under Corporate Social Responsibility (CSR).
The programme which was initiated in 2017, has consistently expanded its geographical footprint in seven States namely, Maharashtra, Madhya Pradesh, Tamil Nadu, West Bengal, Odisha, Karnataka and Kerala with a cadre of 1,370 trained Digital Sakhis over the years. The programme aims to create awareness about digital and financial literacy amongst the rural population.
Speaking about the progress of the Digital Sakhi programme, Apurva Rathod, Company Secretary & Chief Sustainability Officer at LTF, said, “Our Digital Sakhis have played an active role in bridging the last mile gap and facilitating the convergence of government schemes, conducting sessions in Gram Sabhas and the State Rural Livelihood Mission programmes and supporting the community to obtain the benefits of government schemes. The efforts of Digital Sakhis have been instrumental in bringing the larger community into the ambit of entitlements. Our Digital Sakhi project has continued to invigorate the women empowerment narrative with many women rising up the ranks, from the confines of their homes to being change agents in their community. In FY24, our Digital Sakhis have effectively helped empower over 11 lakh rural communities by promoting digital financial inclusion, providing impetus to 2,400 women entrepreneurs.”
Digital Sakhi is a flagship programme of LTF, which equips rural women with the skills and knowledge to confidently impart Digital and Financial Literacy (DFL) training to households in their communities and nurture an ecosystem of digital financial transactions. The programme focuses on Sustainable Development Goal (SDG) 5 – Gender Equality wherein women are identified from rural communities and trained extensively on DFL, leadership and technology. These women are called “Digital Sakhis”. Each Sakhi is equipped with a mobile tablet with preloaded DFL modules. The programme also nurtures women entrepreneurs from the communities, providing them with upskilling and enterprise development training to help them build their businesses and enhance their livelihoods.
Under the programme, L&T Finance has successfully empanelled 400 Sakhis in new geographies of Uttar Pradesh (Gorakhpur), Bihar (Supaul), Tamil Nadu (Madurai), and West Bengal (Murshidabad) in FY2023-24.
Across existing and new programme locations of Digital Sakhis, there has been a commendable 12 per cent increase in the adoption of digital payments among the community members, promoting a cashless economy and enhancing financial inclusion.
Progress in the last financial year
The Digital Sakhi project in Uttar Pradesh at Gorakhpur district was launched in the last financial year and in the first year of the project, more than 1,25,000 individuals were reached through various awareness activities.
Similarly, the project was launched in Bihar at Supaul district and it has started to show results on the ground. In the first year of the project, more than one lakh individuals were reached through various awareness activities.
The Digital Sakhi project was also launched in Tamil Nadu at Madurai district and in the initial year, more than one lakh individuals were reached through various awareness activities.
Lastly, the project in West Bengal at Murshidabad district was launched last year and during the year more than one lakh individuals were reached through various awareness activities in the first year.
