Jhansi, Dec 21 : The seminar on Financial Inclusion for Rural India, held in Jhansi on December 20, 2024, brought together policymakers, financial experts, and grassroots leaders to discuss strategies for integrating underserved rural communities into the nation’s financial ecosystem. A collaborative initiative of UN Women, Rang De, and Manjari Foundation, Unite for Financial Inclusion in Rural India, the seminar attracted over 200 participants representing NGOs, banks, local government bodies, and beneficiaries. The seminar aimed to address the challenges faced by rural populations in accessing formal financial services. The theme, “वित्तीय साक्षरता एवं स्टार्ट-अप संवाद,” emphasized the urgency of creating equitable opportunities for economic growth.

The seminar emphasized the importance of improving rural access to essential financial services such as savings accounts, credit, insurance, and digital payment systems. Speakers highlighted how lack of financial literacy and infrastructural limitations perpetuate cycles of poverty in rural areas.  Panel discussions also explored the role of digital technology in driving financial inclusion. Representatives from fintech companies showcased how mobile apps and biometric-enabled payment systems are bridging the gap for rural populations, even in remote areas.

Sanjay, the founder and Executive Director of Manjari Foundation, shared that the organization’s goal is to connect 10,000 people to financial inclusion within a year, resulting in over 10 crore rupees in direct benefits for the beneficiaries. UN Women is assisting in connecting 2,500 people. This initiative aims to boost self-employment and economic self-reliance in rural areas.

Pallavi Aggarwal from UN Women highlighted that India’s growing emphasis on financial inclusion, especially for women, has brought about significant economic changes. As more women gain access to banking services, loans, and digital payment systems, they are making a vital contribution to the country’s economy. Financial inclusion is proving to be an essential tool for empowering women, fostering economic growth, and supporting community development.

Arun Ramachandran, Vice President of Rang De, emphasized that financial inclusion for women is a revolutionary economic step. It goes beyond individual empowerment, contributing to community development and national economic growth. According to the 2024 World Bank report, countries with higher rates of women’s financial inclusion experience higher GDP growth.

One of the seminar’s highlights was a workshop on grassroots innovations, which allowed rural entrepreneurs and self-help groups to share their experiences in overcoming financial barriers. Participants discussed the importance of creating customized solutions, such as low-interest credit programs and insurance schemes tailored to the needs of farmers and small-scale traders. Such initiatives not only reduce the reliance on informal moneylenders but also encourage sustainable economic practices at the community level. During the event, folk artists performed several presentations. On this occasion, Shintu from Rang De, Dhruv Singh from Marg Sheersh Sanstha, Gaurav Bhatnagar from National Rural Livelihood Mission, Harsh Sharma from Fino Payments, and Abhishek from HDFC answered questions from the beneficiaries.

The event concluded with a commitment from stakeholders to implement actionable recommendations, such as expanding banking infrastructure in rural areas and providing ongoing financial literacy campaigns. The seminar underscored that financial inclusion is not just an economic necessity but also a social imperative. By equipping rural communities with the tools to participate in the formal financial system, India can create a more equitable and resilient economy where no one is left behind.