Investor Education and Protection Fund Authority (IEPFA) and India Post Payments Bank (IPPB) signed a Memorandum of Agreement (MoA) to launch Phase 2 of the “Niveshak Didi” initiative. This strategic collaboration aims to scale financial literacy among women in rural, semi-urban, and underserved areas. Also to promote financial inclusion and empowerment at grassroots level.
Key Highlights
Launch Collaboration:
- IEPFA (a statutory body under the Ministry of Corporate Affairs) and IPPB (under the Department of Posts, Ministry of Communication) jointly launching Phase 2.
Objective:
- Foster cross-sectoral cooperation to address the challenges within India’s skilling ecosystem, specifically in financial literacy.
- Empower rural women to make informed financial decisions and achieve financial independence.
Program Details:
- Phase 2 will deploy over 4,000 financial literacy camps across India.
- Approximately 40,000 women postal workers—trained under the Niveshak Didi program—will lead these camps.
- Focused Curriculum Covers: Digital banking, Savings and safe investment practices and Fraud prevention.
Community Outreach:
- Education efforts will be executed through village-level camps, door-to-door outreach, and interactive sessions.
- These efforts build on the success of Phase 1, which in 2023 saw over 55,000 beneficiaries (with nearly 60% being female) participating in financial literacy camps, particularly in deep rural areas.
About “Niveshak Didi”
Inception: Launched initially in 2023 as a women-led financial literacy initiative.
Purpose:
- To empower rural communities through community-based financial education, using trained women postal workers and local leaders as educators
- The initiative aligns with the government’s focus on women-led development and financial inclusion under schemes like Jan Dhan Yojana and Digital India.
Impact (Phase 1): Demonstrated substantial grassroots penetration with high participation rates in rural regions.
About Investor Education and Protection Fund Authority (IEPFA)
Mandate:
- Promotes financial literacy across India.
- Informs and protects investors, particularly in underserved areas.
Vision:
- To build a financially aware and confident India with citizens equipped to make sound financial decisions.
About India Post Payments Bank (IPPB)
Established: On September 1, 2018.
Ownership & Network: 100% Government-owned, utilizing an extensive postal network (approximately 1,65,000 post offices, with around 140,000 in rural areas).
Objective:
- Provide accessible, affordable, and trusted banking solutions.
- Remove banking barriers for the unbanked and underbanked, supporting inclusive economic growth.