In order to foster women's entrepreneurship and community development in Rajasthan and Madhya Pradesh, the AU Small Finance Bank (AU SFB) is expanding its AU Udyogini program in collaboration with the Magic Bus India Foundation (MBIF). The partnership aims to provide entrepreneurship orientation, education, and mentorship of a woman's entrepreneurial journey.
The program will drive over 1.300 young women from rural and semi-urban areas across 13 districts in Rajasthan and 7 districts in Madhya Pradesh. The women participants will be offered guidance in business plans, access to finance and markets, access to technology solutions, formalize the business, registration, and certification through Magic Bus India Foundation, whereas AU Udyogini will provide seed funding, capacity-building training, and other support to fulfill the aspirations of rural women entrepreneurs.
The AU Udyogini program has supported over 1,100 rural women entrepreneurs, out of which 20 per cent of women are widowed, separated, or divorced. The program leads to a structured process that ensures effective results driving socio-economic progress and lessening the dropout rates. The program initially started to support the women and families of daily-wage workers affected by to COVID-19 pandemic but gradually it expanded its operations toward enhancing the conditions of underserved rural women. It also aligns with NITI Aayog's plan to improve India's Human Development Index ranking.
