Paytm unveils initiative to educate women on financial services

Paytm Payments Bank today announced a programme Paytm AshaKiran aimed at educating rural women about financial services.

"With this program, Paytm Payments Bank aims to educate these women about the financial services and create new employment opportunities across smaller towns and cities in India's formal banking systems," a statement by the bank said.

In the first phase, the bank has partnered with the United Nations Development Program (UNDP) under its Disha project which is supported by IKEA Foundation and women-related organisations like SHEROES "to mobilize self-help groups and organize workshops". These workshops will be held in smaller cities and towns across Maharashtra, Karnataka, Haryana, Andhra Pradesh and Uttar Pradesh.

"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. The bank will continue partnering with other government bodies and other such organisations to reach more women across India," the statement added.

Paytm Payments Bank said it plans to empower over one million women within the first year of operations through entrepreneurial opportunities.