WEP and TransUnion CIBIL Launch SEHER Program to Empower Women Entrepreneurs in India
The Women Entrepreneurship Platform (WEP) and TransUnion CIBIL have launched SEHER, a credit education program designed to empower women entrepreneurs in India. SEHER aims to provide financial literacy content and business skills, facilitating access to essential financial tools for growth and employment creation.
About SEHER Program
Launch Event
Introduced by Ms. Anna Roy, Mission Director, WEP, in the presence of key stakeholders from NITI Aayog, Department of Financial Services (DFS), Indian Banks’ Association (IBA), Reserve Bank of India (RBI), Ministry of MSME, and TransUnion CIBIL.
Objective
Address financial awareness as a major hurdle for MSME development by educating women on finance aspects, including CIBIL Rank and commercial credit reports.
Significance of Financial Literacy
Challenges
Financial unawareness is a significant barrier for MSME growth.
Goal
Empower women entrepreneurs by providing comprehensive support across entrepreneurship promotion, finance access, market linkages, training, mentoring, and business development services.
Impact
Enhance women’s financial knowledge and skills for managing businesses and achieving sustained growth, contributing to India’s USD 5 trillion economy target.
Current State and Potential of Women Entrepreneurs
Statistics
India has 63 million MSMEs, with 20.5% being women-owned, employing 27 million people.
Growth Potential
Accelerating women’s entrepreneurship could create over 30 million new women-owned enterprises and 150 to 170 million jobs.
Loan Demand
Business loans for women have grown 3.9X from FY 2019 to FY 2024, with women holding 38% of the 1.5 crore live business loans as of March 2024.
WEP and TransUnion CIBIL Initiatives
Credit Education
SEHER will provide personalized resources and tools for financial literacy to women entrepreneurs, promoting good credit history and CIBIL scores.
Partnership
Commitment to improving financial and credit awareness for women entrepreneurs across India.
About WEP
Establishment
Incubated in NITI Aayog in 2018, transitioned to a public-private partnership in 2022.
Mission
Empower women entrepreneurs by overcoming information asymmetry and offering support in entrepreneurship promotion, finance access, market linkages, training, mentoring, and business development services.
About TransUnion CIBIL
Role
Provides comprehensive financial solutions, enabling economic opportunities and personal empowerment.
Clientele
Serves banks, financial institutions, NBFCs, housing finance companies, microfinance companies, and insurance firms in India.
Financing Women Collaborative (FWC)
Second Meeting
Held in Mumbai to address access to finance for women entrepreneurs, featuring key stakeholders from NITI Aayog, RBI, Ministry of Finance, MSME, SIDBI, SBI, and other organizations.
Initiatives
New collaborations to support women entrepreneurs in Maharashtra, MoU with GroW Network, and the launch of SEHER and Shine programs to improve credit readiness and access for women-led enterprises.
WEP and TransUnion CIBIL Launch SEHER Program to Empower Women Entrepreneurs in India
The Women Entrepreneurship Platform (WEP) and TransUnion CIBIL have launched SEHER, a credit education program designed to empower women entrepreneurs in India. SEHER aims to provide financial literacy content and business skills, facilitating access to essential financial tools for growth and employment creation.
About SEHER Program
Launch Event
Introduced by Ms. Anna Roy, Mission Director, WEP, in the presence of key stakeholders from NITI Aayog, Department of Financial Services (DFS), Indian Banks’ Association (IBA), Reserve Bank of India (RBI), Ministry of MSME, and TransUnion CIBIL.
Objective
Address financial awareness as a major hurdle for MSME development by educating women on finance aspects, including CIBIL Rank and commercial credit reports.
Significance of Financial Literacy
Challenges
Financial unawareness is a significant barrier for MSME growth.
Goal
Empower women entrepreneurs by providing comprehensive support across entrepreneurship promotion, finance access, market linkages, training, mentoring, and business development services.
Impact
Enhance women’s financial knowledge and skills for managing businesses and achieving sustained growth, contributing to India’s USD 5 trillion economy target.
Current State and Potential of Women Entrepreneurs
Statistics
India has 63 million MSMEs, with 20.5% being women-owned, employing 27 million people.
Growth Potential
Accelerating women’s entrepreneurship could create over 30 million new women-owned enterprises and 150 to 170 million jobs.
Loan Demand
Business loans for women have grown 3.9X from FY 2019 to FY 2024, with women holding 38% of the 1.5 crore live business loans as of March 2024.
WEP and TransUnion CIBIL Initiatives
Credit Education
SEHER will provide personalized resources and tools for financial literacy to women entrepreneurs, promoting good credit history and CIBIL scores.
Partnership
Commitment to improving financial and credit awareness for women entrepreneurs across India.
About WEP
Establishment
Incubated in NITI Aayog in 2018, transitioned to a public-private partnership in 2022.
Mission
Empower women entrepreneurs by overcoming information asymmetry and offering support in entrepreneurship promotion, finance access, market linkages, training, mentoring, and business development services.
About TransUnion CIBIL
Role
Provides comprehensive financial solutions, enabling economic opportunities and personal empowerment.
Clientele
Serves banks, financial institutions, NBFCs, housing finance companies, microfinance companies, and insurance firms in India.
Financing Women Collaborative (FWC)
Second Meeting
Held in Mumbai to address access to finance for women entrepreneurs, featuring key stakeholders from NITI Aayog, RBI, Ministry of Finance, MSME, SIDBI, SBI, and other organizations.
Initiatives
New collaborations to support women entrepreneurs in Maharashtra, MoU with GroW Network, and the launch of SEHER and Shine programs to improve credit readiness and access for women-led enterprises.
The Women Entrepreneurship Platform (WEP) and TransUnion CIBIL have joined forces to launch SEHER, a groundbreaking credit education program aimed at empowering women entrepreneurs in India. This initiative is set to revolutionize the landscape for female business owners by providing them with the necessary financial literacy and business skills to thrive in the competitive market.
At the launch event, which was graced by key stakeholders from various government bodies and financial institutions, including NITI Aayog and the Reserve Bank of India, SEHER was introduced by Ms. Anna Roy, Mission Director of WEP. The program’s objective is to address the lack of financial awareness among women entrepreneurs, with a focus on educating them about crucial finance aspects such as CIBIL Rank and commercial credit reports.
Financial unawareness has long been a major hurdle for the growth of Micro, Small, and Medium Enterprises (MSMEs) in India. SEHER aims to bridge this gap by providing comprehensive support to women entrepreneurs, including access to essential financial tools for growth and employment creation. By enhancing women’s financial knowledge and skills, the program seeks to contribute significantly to India’s ambitious goal of achieving a USD 5 trillion economy.
Currently, India has 63 million MSMEs, with 20.5% being women-owned and employing 27 million people. The potential for growth in women’s entrepreneurship is immense, with the possibility of creating over 30 million new women-owned enterprises and 150 to 170 million jobs. The demand for business loans among women has also seen a significant increase, with women holding 38% of the 1.5 crore live business loans as of March 2024.
SEHER will provide personalized resources and tools for financial literacy to women entrepreneurs, with a focus on promoting good credit history and CIBIL scores. The partnership between WEP and TransUnion CIBIL underscores their commitment to improving financial and credit awareness for women entrepreneurs across India.
In a recent meeting of the Financing Women Collaborative (FWC) in Mumbai, key stakeholders came together to address access to finance for women entrepreneurs. New collaborations were announced to support women entrepreneurs in Maharashtra, including a Memorandum of Understanding (MoU) with GroW Network and the launch of SEHER and Shine programs to improve credit readiness and access for women-led enterprises.
Overall, the launch of SEHER marks a significant milestone in the journey towards empowering women entrepreneurs in India and fostering their growth and success in the business world.
