Financial Literacy and Women Empowerment Program

Financial Literacy of the economically underprivileged clients is the first step towards ensuring financial inclusion within India. SAIJA Finance Private Limited with financial and technical support from Small Industries Bank (SIDBI) is striving towards financial inclusion of its customers across three districts of Bihar with a variety of programs like Mass Awareness Camps and providing field-based training using different stories and method created by SIDBI and DFID, UK to educate the customers of Microfinance company on the consequences of over-borrowing, ghost lending and on the importance of Credit bureau, importance savings, and Financial Literacy and women empowerment Program created by SIDBI and DFID, UK a seven module in-depth classroom training aimed at:

  1. Creating an understanding of the importance of being financially literate and equip them with tools to make informed financial decisions and take control of their financial situation.
  2. Educate microfinance customers on their options for borrowing and savings, including helping them open formal savings accounts and the ability to use these accounts.
  3. Educate microfinance customers on health and nutrition related issues.

The financial literacy program is focused on building the capacity of low-income rural and urban households to give these individuals the tools to maintain their personal and household income efficiently; and add asset building tools such as savings, insurance, and investment. The clients are trained on fundamental concepts of financial management such as financial planning, cash-flow & budgeting, savings, debt and other essential financial products and services such as insurance, investment, banking and business correspondent. The program has been carefully designed to suit Indian socio-cultural context and uses adult learning techniques for training delivery.