SEHER credit training program was launched to empower women entrepreneurs

Magica credit training program launched by the organization on July 8 Women’s Entrepreneurship Platform (WEP) And TransUnion CIBIL, It empowers women entrepreneurs in India with financial literacy content and business skills. This will help them to access the financial tools needed for further growth and job creation in the country’s economy.

About the women’s entrepreneurship program

this Women’s Entrepreneurship Program (WEP) Is a Public and private partnership platform Incubated at Niti Aayog, it aims to create an enabling ecosystem for women entrepreneurs in India. The program is part of WEP Women’s Financing Cooperative (FWC), the first initiative of its kind with the aim of accelerating women entrepreneurs’ access to financial resources. The SEHER program was launched by Ms. Anna Roy, Mission Director, Women Entrepreneurship Platform (WEP) and Principal Economic Adviser, NITI Aayog in the presence of Mr. Jitendra Asathi, Director (Inc. Finance), Department of Financial Services (DFS). Ministry of Finance; Mr. Sunil Mehta, Executive Chairman, Indian Banks Association (IBA); Mr. Neeraj Nigam, Executive Director, Reserve Bank of India (RBI); Mrs. Mercy Epao, Joint Secretary, Ministry of MSME; and Mr. Rajesh Kumar, MD & CEO, TransUnion CIBIL.

Supporting and accelerating business and entrepreneurship owned by women

According to Udyam Registration Portal (URP) According to the Ministry of Micro, Small and Medium Enterprises (MSME), India has 63 million micro, small and medium enterprises, 20.5 percent of which are owned by women, employing 27 million people. The ministry also reported that rural areas have a slightly higher share of women-owned enterprises (22.24%) Compared to urban areas (18.42 percent). Estimates suggest that by accelerating women’s entrepreneurship, India could create more than 30 million new women-owned companies, potentially 150. 170 million more jobs – with the share of women-owned businesses in employment created by units registered in the URP 18.73%.

Demand for business loans

TransUnion CIBIL data Insights show that demand for business loans by women has increased 3.9 times over the past five years (Fiscal Year 2019 – Fiscal Year 2024). is marked 10% growth During this period, the share of the number of female borrowers with commercial loans was observed. Of the 1.5 crore borrowers with live business loans in March 2024, 38% were women. Portfolio balance for business loans by women borrowers grew 35% CAGR During the same period (March 2019 to March 2024). Among other products such as agricultural loans, commercial vehicles and commercial equipment loans, the share of women borrowers has remained stable. 28% (March 2019 to March 2024)According to TransUnion CIBIL consumer bureau data.

Focus on credit training

As Women-led businesses Across growing geographies, empowering them with quick, easy and affordable access to finance is critical to the sustainable growth of their businesses. with one Focus on credit education, Magic It gives women entrepreneurs access to personalized resources and tools, including financial literacy content. WEP and TransUnion CIBIL Committed to cooperation to promote financial and credit awareness through training women entrepreneurs across the country about the importance of creating a good credit record and CIBIL score For easier and faster access to finances.

About WEP

Women’s Entrepreneurship Platform (WEP)hatching in NITI Aayog in 2018 As an aggregator platform that evolved into a public-private partnership in 2022 to create a comprehensive ecosystem to support women entrepreneurs across India. Objectives of WEP In empowering women entrepreneurs by overcoming information asymmetry and continuously providing support in different pillars – promotion of entrepreneurship, access to finance; market links; training and skills; Consulting and network services and business development. For this, WEP covers a wide range of interferences with a Focus on convergence and collaboration with existing stakeholders

About TransUnion CIBIL

India’s pioneering information and insights company, TransUnion CIBIL enables trust in the modern economy. We do this by providing a practical picture of each individual so that they can be reliably represented in the market. As a result, businesses and consumers can transact with confidence and achieve great results. We call this information for good. TransUnion CIBIL It provides solutions that help create economic opportunities, great experiences and personal empowerment for millions of people in India. We also serve the financial sector small and medium companies, Our corporate and individual consumer customers in India include banks, Financial institutions, NBFCshousing financing companies, micro financing companies and insurance companies.