PayNearby launches ‘zero investment plan’ for women entrepreneurs in rural India


On the 75th anniversary of the Indian Independence Day, PayNearby has launched a ‘zero investment plan’ for rural women entrepreneurs, covering across 20,000 pin codes.

By the year 2024, the company plans to onboard more than 10 lakh women entrepreneurs from rural parts of the country.

The initiative seeks to build financial independence among rural women by removing business account opening charges. The programme further aims to accelerate the national ambition of financial inclusion for all, while also empowering women in rural India to become active participants in the nation-building movement.

The Women Sustainable Employment campaign, which has Sashakt Naari, Sashakt Samaaj, and Sashakt Desh at its core, aims to ensure that every household in India has a woman who is financially capable of taking care of her family and so create an empowered community and an empowered nation.

In order to achieve a more inclusive and sustainable society, PayNearby seeks to upskill all women and move them up the employment ladder so that they each contribute equally to the growth of the economy.

Sharing his views, Anand Kumar Bajaj, Founder, MD & CEO, PayNearby said, “A country progresses when its women become equal participants in the progress. While the pathway to women’s enablement is many, one of the most important facilitators is financial empowerment. It is important women have access to digital and financial tools that give them better control over their earnings and savings. With women as our partners, it will ensure seamless delivery of accessible banking services to every section of the society while uplifting their social standing.”

“The path that we have undertaken towards the Sashakt Naari, Sashakt Samaaj, Sashakt Desh mission is challenging. But then, the path to a greater good is always riddled with challenges. We believe that women are key to social change and PayNearby is extremely honoured to be driving this sustainable employment campaign to help them realise their potential in creating a sustainable future,” Bajaj further added.

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Underlining the campaign, Jayatri Dasgupta, Chief Marketing Officer, PayNearby said, “Today, only 27 per cent of women in India are employed, out of which women running small businesses account for only 13 per cent. For India to progress, women need to come forward and participate. In such a scenario, the importance of financial and digital education for women at the last mile becomes very important.”

The Women Sustainable Employment campaign seeks to liberate rural women from the confines of the home and put them on the economic front. PayNearby aims to create an equal opportunity platform for people to advance and contribute to its One Nation One Service vision and take rural India to the next level of growth and inclusion in the 75th year of its independence.

In order to achieve this, the company is waiving the INR 1000 fee for the business account that is necessary to open and maintain the account. However, the expense of completing the KYC will be kept to a minimal for female partners.

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