UP’s Rural Women Drive Rs 27,000 Crore in Financial Transactions

Enterprising rural women in Uttar Pradesh, working as BC Sakhis, have facilitated Rs 27,000 crore in financial transactions over the past four and a half years. BC Sakhis, appointed under a nationwide women empowerment initiative, are part of self-help groups (SHGs) providing banking services in rural, unbanked areas. Uttar Pradesh leads the nation in the number of BC Sakhis, followed by Madhya Pradesh and Rajasthan. These women have earned Rs 75 crore in commission, making significant contributions to financial inclusion.

BC Sakhi Initiative

Launched in May 2020, nearly 40,000 BC Sakhis in UP offer doorstep banking services in partnership with banks like SBI and BoB. The initiative focuses on empowering women, with priority given to those from families of ex-servicemen, bankers, and teachers.

Impact on NPAs and Livelihood

The program has kept NPAs of women SHGs low, with SHGs accessing Rs 6.96 trillion in credit since 2013-14. The aim is to appoint BC Sakhis in all gram panchayats, boosting rural women’s income under the “Lakhpati Didi” scheme. So far, 27.5 million women have been trained in financial literacy.