Paytm Payments Bank empowers women with “Paytm AshaKiran”

Paytm Payments Bank, India’s only bank providing zero balance accounts and zero charges on digital transactions has introduced a new initiative named “Paytm AshaKiran” to empower women. 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.

For the first phase, the bank has partnered with the United Nations Development Program (UNDP) as part of its Disha project which is supported by IKEA Foundation and women-related organizations like SHEROES to mobilize self-help groups and organize workshops 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 organizations to reach more women across India.

Renu Satti, MD & CEO – Paytm Payments Bank said, “As a socially responsible bank, we aim to bring uninterrupted banking and financial services access to even the remotest cities and towns in our country. To achieve this, we are introducing our first initiative towards empowering rural women – ‘Paytm AshaKiran’. With this initiative, we aim to help women to understand the financial services sector and become self-reliant, to be a part of India’s mainstream economy. This program would support and educate these women as they take their first steps towards financial inclusion.”

Last year, Paytm Payments Bank launched ‘Paytm Ka ATM’ outlets across India that allows customers to open saving Accounts and deposit/withdraw money. These specially branded outlets are playing a key role in offering banking services to smaller cities and towns by ensuring customers find it easy to locate an access point near them.

Paytm Payments Bank

India’s largest digital bank, Paytm Payments Bank is the only bank providing zero balance accounts and zero charges on digital transactions. Paytm Payments Bank aims to build a new business model in the banking industry that is focused on bringing financial services to 500 million un-served or underserved consumers across India. With Renu Satti as its MD & CEO, it is headquartered in the National Capital Region, India. Paytm Founder and CEO, Vijay Shekhar Sharma owns a majority stake in the company, and One97 Communications Ltd owns the remaining share. The Bank has P Vijayabhaskar – Ex-Executive Director, RBI; Ash Lilani – Managing Partner and co-founder of Saama Capital and G.S. Sundararajan – EX-Managing Director at the Sriram Group as Independent Directors.