PayTM AshaKiran partners with Grameen Foundation to help rural individuals

Reportedly, rural India observed a growth of 14.11% year-over-year in the number of Internet users, which was 186 Million in December 2017.

PayTM recently partnered with Grameen Foundation for Social Impact (GFSI) under its initiative AshaKiran. Under the partnership, self-employment opportunities will be provided to the women and youth of rural India in finance and banking. The initiative AshaKiran was launched this year in May, in order to help educate rural youth and women about digital financial services. It also aimed on providing new employment opportunities in small towns and cities under India’s formal banking systems.

A not-for-profit organization Grameen Foundation for Social Impact (GFSI), is aimed on undertaking various activities and services that influence the lives of people with low incomes. The initiative provides easy access to financial services, health and agricultural information. It uses of digital technology, human-centric design and community-based agent networks. Both companies will provide job oriented training under this partnership.  The program’s aim is to increase the financial literacy and add to unbanked and underbanked segments. MD & CEO of PayTM, Renu Satti said, “Our aim is to bring uninterrupted banking and financial services access to the remotest villages in our country. We will continue to focus our efforts towards supporting and educating rural women and youth, helping them move towards financial inclusion.”

Grameen Foundation will also provide Grameen Learning Platform (G-LEAP). G-LEAP is a mobile learning platform and Grameen Guru will be an Augmented Reality based Chatbot. The android based applications will help train and equip people. Furthermore, PayTM Payments Bank will provide complete banking and entrepreneurship training as part of the initiative AshaKiran. It will aim on helping these the rural people and promote self-employed. CEO of GFSI Prabhat Labh mentioned that the partnership will bring together the unique strengths of Grameen Foundation’s and PayTM Payments Bank.

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