WEP & TransUnion CIBIL launch Credit Education Programme for Women

WEP & TransUnion CIBIL launch Credit Education Programme for Women

By: WE Staff | Tuesday, 9 July 2024

In an alliance, Women Entrepreneurship Platform (WEP) and TransUnion CIBIL have jointly launched a credit education programme, entitled as ‘SEHER’. The programme aims at aiding women entrepreneurs with enhanced financial literacy as well as business skills.

It will provide assistance while equipping women with financial tools that are needed to grow their business in addition to create jobs. As part of WEP’s Financing Women Collaborative (FWC), the SEHER programme looks forward to helping women entrepreneurs. Considering the FWC, it is a first-of-its-kind initiative that aims at financial access acceleration for female entrepreneurs, providing knowledge to them in order to build strong credit histories and manage finances in a much better way.

It has been witnessed that there is a significant rise in business loans demand by females i.e., grown 3.9X in the past 5 years (FY19–24), as per TransUnion CIBIL data. The total number of female borrowers during this period increased by 10 percent, specifically those who were holding business loans, while women constitute 38 percent amongst the 1.5 crore borrowers with live business loans as of March this year.

Mission Director, WEP, and Principal Economic Adviser at NITI Aayog, Anna Roy said, “A lack of financial awareness is often cited as one of the key roadblocks for MSME development, which is a high priority segment for our country's economic growth.”