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RBIHub has partnered with IIM-A to launch 'Swanari TechSprint 3.0' aimed at promoting women's financial inclusion.

Economy Business | Dated: 11 Jan 2025

On January 9, 2025, the Reserve Bank Innovation Hub (RBIH), a fully owned subsidiary of the Reserve Bank of India (RBI), partnered with the Gujarat-based Indian Institute of Management Ahmedabad (IIM-A) and its startup incubator, IIMA Ventures (formerly known as IIMA-Centre for Innovation, Incubation, and Entrepreneurship, CIIE), to launch the third round of the 'Swanari TechSprint 3.0' program.

🎯 Key Highlights:

  • - The program aims to help women-focused fintech startups grow their businesses and scale up. The initiative is designed to create, develop, and support technological innovations that improve access, use, and the quality of financial services for women across India.
  • - The Swanari TechSprint program helps startups create gender-inclusive financial solutions by offering expert mentorship, funding grants, and other forms of support.
  • - The focus is on empowering women-owned MSMEs (Micro, Small, and Medium Enterprises), self-help groups, and street vendors. It aims to overcome challenges like inactive bank accounts, limited access to savings products, and difficulties in obtaining credit.

💡 Other Important Facts:

  • (i) According to the World Bank (WB), India has over 556 million women aged 15-64 who are underserved in financial services. The program aims to tackle challenges by supporting startups that focus on meeting the unique financial needs of women.
  • (ii) Past cohorts have showcased successful startups like Kaleidofin, Merakal, Vitto, Anniyam Payment, MaksPay, Manipal Business Solutions, Sampatti Card, Haqdarshak, and Agripal. These startups have introduced innovative solutions to empower women financially.

📚 Test Your Knowledge:

Recently, which organization partnered with IIM-A to launch 'Swanari TechSprint 3.0'?

Correct Answer: RBIHub

🚀 Quick Recap:

About Reserve Bank Innovation Hub (RBIH)

  • Chairman: Senapathy (Kris) Gopalakrishnan
  • CEO : Rajesh Bansal