Vodafone M-Pesa partners with govt to empower SHGs in Rajasthan

 

Currently, RGAVP gives small loans to women in poor families in the form of cash. Loans are given to the Village Organisation (VO)/ Self Help Group (SHG) leaders and cashiers who drive the business. 

 

These loan amounts are disbursed in the form of cash and repayment amount is collected periodically.

 

With M-Pesa wallet, the loan amount will be deposited instantly by the leaders to the individual savings account. Instant confirmation in the form of SMS is sent to the individual handsets. Instead on travelling 10-15 kms in most case for cash transaction, Vodafone M-Pesa facilitates instant, safe and secure cash transaction for the poor in Rajasthan. Regular deposit into savings account at regular intervals using M-Pesa will further boost credit ratings. 

 

The partnership will boost the banking system in Rajasthan and facilitate higher loan disbursement for the poor, an official statement said.

 

Vodafone has entered  into a six months pilot project with Rajasthan Grameen Aajeevika Vikas Parishad (RGAVP) in 3 blocks of Rajasthan namely - Anandpuri in Banswara district, Baap in Jodhpur district and Sankar in Jaisalmer district.

 

Speaking about the association Suresh Sethi, Business Head M-Pesa, Vodafone India said, “M-pesa is an innovative financial service from Vodafone that brings the bank to the mobile and addresses the issue of access to financial services. We are delighted to extend M-Pesa offering to Rajasthan Grameen Aajeevika Vikas Parishad (RGAVP). We are confident that this association will go a long way in simplifying the payments process for RGAVP from the Self Help Groups. Currently, we are running a pilot in 3 blocks of Rajasthan. We are hoping to extend the benefit of using M-Pesa (Mobile Wallets) and further enhance the capabilities of the VO/SHGs.”

 

Expressing his delight on the initiative, Rajeev Singh Thakur - Secretary RD & State Mission Director, RGAVP said, “With this partnership we aim to make money depositing process simple and fast. This technology enables us to take banking service at the doorstep of our SHG women and make the experience hassle free."