Customized training materials based on baseline and needs assessments for each state Leading non-banking financial firm L&T Financial Services (LTFS) today announced the launch of its Digital Sakhi project in Karnataka. The company's major CSR initiative, "Digital Sakhi," educates and supports rural women who then encourage female entrepreneurship and Digital Financial Literacy (DFL) in their neighbourhoods. Following the success of the Digital Sakhi initiatives launched in the states of Maharashtra, Madhya Pradesh, Tamil Nadu, Odisha, and West Bengal, the programme in Karnataka was officially launched. Over 5,500 women entrepreneurs have benefited from the 960 Digital Sakhis who have been trained by Digital Sakhi programmes since their launch in 2017.
More than 8.60 Lakh people in 5 states were trained and empowered on DFL by Digital Sakhis in just FY22. Through the project in Karnataka, LTFS aims to build a cadre of over 300 Digital Sakhis who will serve as digital enablers and provide DFL trainings to over 9 Lakh community members on themes like goal-based savings, access to government benefits, and digital payment methods. Through training in upskilling and company development, the project also seeks to assist over 3,000 female entrepreneurs in starting and growing their micro-enterprises. "Many of our retail businesses directly interface with rural areas, giving us an all-encompassing picture of consumers' needs, including the gaps that exist within the community," stated Mr. Dinanath Dubhashi, Managing Director & CEO L&T Finance Holdings.
Our flagship Digital Sakhi programme, which was created in 2017 to close this gap, has had a substantial impact on all the states where the projects have been implemented. By encouraging digital financial inclusion, advancing women's empowerment, and fostering gender equality, our Digital Sakhis have successfully assisted in empowering the rural communities where they operate. As a result, they have strengthened the country at the grassroots level and contributed to the overall agenda for national development. "Economic inequities and social prejudices have denied women equal footing and chances," stated Mr. G.V. Krishnagopal, Executive Director of Access Livelihood Foundation, speaking at the event. India wants to be a true global leader where no person has to go without the necessities of life.
Technology has the potential to be a tremendous equaliser if used sensibly and for the right reasons. Transformative efforts are being made by LTFS to offer cutting edge financial inclusion solutions with the appropriate social architecture, where rural women themselves will promote the cause. It would be a significant endeavour helping India realise its Atmanirbhar Bharat aim at the scale of 4 lakh homes. The Access Livelihoods Foundation, a social organisation that works with underserved communities to rethink their livelihoods, will implement the Digital Sakhi initiative in Karnataka. In order to develop equitable and long-lasting livelihood possibilities, Access Livelihoods Foundation, a certified Established Incubation Center by AIM-NITI Aayog, primarily supports women-owned producer companies across key industries.
Project Digital Sakhi Information The LTFS flagship programme, Digital Sakhi, gives rural women the information and skills they need to effectively teach DFL to households in their communities and support a system of digital financial transactions. The program's main focus is Sustainable Development Goal (SDG) 5 - Gender Equality, and women from rural communities are selected for the programme and receive substantial training in DFL, leadership, and technology. They are referred to as "Digital Sakhis" women. Each Sakhi has a portable tablet with DFL modules already installed. The initiative supports female entrepreneurs from the local communities by giving them training in enterprise development and skill-upgrading to assist them grow their enterprises and improve their standard of living.
L&T Finance Holdings information (LTFH) Leading Non-Banking Financial Company (NBFC) LTFH (www.ltfs.com) provides a variety of financial products and services through its fully owned subsidiaries. L&T Finance Holdings Limited and its subsidiaries are known together as LTFS. The Company, which has its headquarters in Mumbai, has received the highest credit rating for NBFCs, AAA, from four reputable rating agencies. Additionally, it has garnered leadership rankings and scores for its sustainability performance from international and domestic ESG rating organisations. As a result of its groundbreaking Digital Sakhi project, the company received the FICCI Corporate Social Responsibility Award for "Women Empowerment" and the Maharashtra CSR Award.
