L&T Finance launches Digital Sakhi project in Kushinagar

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L&T Finance Ltd. launches Digital Sakhi project in Kushinagar

• The project will onboard 100 rural women as Digital Sakhis who will spread Digital and Financial Literacy (DFL) to rural communities across 400 villages in Kushinagar, Uttar Pradesh.
• L&T Finance Ltd. aims to reach over 5 lakh people in the region by the end of 2028
• Digital Sakhis will identify and provide training and support to 1,000 rural women entrepreneurs, enabling them to expand and strengthen their existing micro- businesses.

Kushinagar, August 8, 2024: L&T Finance Ltd. (LTF), one of the leading Non-Banking Financial Companies (NBFCs) in the country, announced the launch of its flagship Corporate Social Responsibility (CSR) project - Digital Sakhi in Kushinagar, Uttar Pradesh. This program is under the Digital and Financial Inclusion vertical of LTF. This program empowers women to catalyse positive change in their communities through Digital Financial Literacy (DFL) and help create sustainable livelihood for women.

By achieving these objectives, the Company intends to have a significant positive impact on the lives of rural women and their families, fostering financial inclusion, entrepreneurship, and sustainable development in the region. The Digital Sakhi program focuses on Sustainable Development Goal (SDG) 5 - Gender Equality, wherein women are identified from rural communities and trained extensively on DFL, leadership, and technology.

Speaking about the progress of the Digital Sakhi program, Ms. Apurva Rathod, Company Secretary and Chief Sustainability Officer at LTF, said, "Our Digital Sakhi Project is designed to bridge the digital divide and promote financial literacy among women in rural communities. After launching the program in Gorakhpur last year, we are expanding it to Kushinagar this year. The project aims to empower rural women in Kushinagar, Uttar Pradesh, by training and onboarding 100 women as Digital Sakhis. These Digital Sakhis will educate over 400 rural villages, reaching more than 5,00,000 people by the end of 2028. They will also identify and support approximately 1,000 rural women entrepreneurs, helping them expand and strengthen their micro-businesses. We believe our Digital Sakhis will play a crucial role in connecting rural communities with government initiatives and ensuring individuals are aware of and can access various benefits. Additionally, they will empower women to become financially inclusive and entrepreneurial."

In FY24, Digital Sakhis have not only supported 2,400 women entrepreneurs but also inspired a new generation of change-makers, elevating women from domestic roles to community leaders. This initiative has been a powerful catalyst for women's empowerment, underscoring the transformative potential of digital financial inclusion and community development.

Digital Sakhis will be conducting awareness sessions for individuals, groups, and households on enabling digital payments. Notably, since its inception in 2017, the project has created a cadre of over 1,770 Digital Sakhis who have benefited over 45 lakh individuals and helped upskill over 14,000 women entrepreneurs. The Digital Sakhi program is currently active in the following locations, Karnataka, Kerala, Tamil Nadu, West Bengal, Uttar Pradesh and Bihar.

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About L&T Finance Ltd. (LTF):

L&T Finance Ltd. (LTF) (https://www.ltfs.com), formerly known as L&T Finance Holdings Ltd., (LTFH) is a leading Non-Banking Financial Company (NBFC), offering a range of financial products and services. Headquartered in Mumbai, the Company has been rated 'AAA' - the highest credit rating for NBFCs - by four leading rating agencies. It has also received leadership scores and ratings by global and national Environmental, Social, and Governance (ESG) rating providers for its sustainability performance. The Company has been certified as a Great Place To Work® and has also won many prestigious awards for its flagship CSR project - "Digital Sakhi"- which focuses on women's empowerment and digital and financial inclusion. Under Right to Win, being in the 'right businesses' has helped the Company become one of the leading financiers in key Retail products. The Company is focused on creating a top-class, digitally enabled, Retail finance company as part of the Lakshya 2026 plan. The goal is to move the emphasis from product focus to customer focus and establish a robust Retail portfolio with quality assets, thus creating a Fintech@Scale while keeping ESG at the core. Fintech@Scale is one of the pillars of the Company's strategic roadmap - Lakshya 2026. The Company has around 2.4 Crore customer database, which is being leveraged to cross- sell, up-sell, and identify new customers.