M-Pesa enabling transactions for self-help groups in West Bengal, India

Tuesday, July 12, 2016

NEW DELHI: Vodafone India has tied-up with West Bengal State Rural Livelihood Mission (WBSRLM) to empower women of Self Help Group (SHG), as an initiative of financial inclusion. The partnership facilitates instant deposits to the bank account of the SHGs by the SHG, using the mobile wallet M-Pesa.

The M-Pesa account would allow SHG to deposit the repayment amounts to their loan account instantly, the company said. SHg won’t be required to travel to far off places instead they can open an account through M-Pesa agents in their nearby locations.

The objective is to facilitate instant, safe and secure cash transaction for the SHG, thereby saving huge transportation cost and time, Vodafone said.

Source: Economic Times (link opens in a new window)

financial inclusion