Paytm trains rural women to be banking correspondents

It will empower over a million women within the first year of operations through entrepreneurial opportunities.

Paytm Payments Bank has just introduced a new initiative named ‘Paytm AshaKiran’ to empower women. With this programme, the Company aims to educate these women about financial services and create new employment opportunities across smaller towns and cities in India’s formal banking systems.

It aims to offer skill-development opportunities to rural women by training and certifying them to act as banking correspondents. These women can then act as a catalyst in the nationwide rollout of Paytm’s bank offerings.

For the first phase, the Bank has partnered with the United Nations Development Programme (UNDP) as part of its Disha project, which is supported by IKEA Foundation and women-related organisations, such as SHEROES to mobilise self-help groups and organise workshops in smaller cities and towns across Maharashtra, Karnataka, Haryana, Andhra Pradesh and Uttar Pradesh.

The Bank will continue partnering with other government bodies and organisations to reach out to more women across India.

Renu Satti, MD & CEO, Paytm Payments Bank says, “With this initiative, we aim to help women to understand the financial services sector and become self-reliant, to be a part of India’s mainstream economy. This programme will support and educate these women as they take their first steps towards financial inclusion.”

Last year, Paytm Payments Bank launched ‘Paytm Ka ATM’ outlets across India. These allow customers to open savings accounts and deposit/withdraw money. These specially-branded outlets are playing a key role in offering banking services to smaller cities and towns by ensuring that customers find it easy to locate an access point near them.