SEHER Credit Education Program Launched to Empower Women Entrepreneurs

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SEHER Credit Education Program Launched to Empower Women Entrepreneurs

The SEHER Credit Education Program, launched by the Women Entrepreneurship Platform (WEP) in partnership with TransUnion CIBIL, aims to empower women entrepreneurs in India. This initiative focuses on enhancing financial literacy and business skills, helping women gain access to financial tools essential for business growth and job creation.

SEHER Credit Education Program Launched to Empower Women Entrepreneurs

Objectives

  1. Increase Financial Literacy: Addressing the knowledge gap in finance and credit management, a significant barrier for many women entrepreneurs.
  2. Enhance Access to Credit: By educating women about credit scores, CIBIL reports, and financial products, the program aims to improve their ability to secure loans and other financial resources.
  3. Promote Business Skills: Providing training in various aspects of running and growing a business, from market linkages to mentorship.

Key Features

  • Financial Education: Personalized resources and tools, including information on building a good credit history and understanding CIBIL scores.
  • Public-Private Partnership: The WEP, incubated at NITI Aayog, collaborates with TransUnion CIBIL and other financial institutions to create an enabling ecosystem for women entrepreneurs.
  • Target Audience: Women across socio-economic backgrounds, age groups, and geographic locations.

Impact

  • Job Creation: Accelerating women's entrepreneurship could potentially create over 30 million new women-owned enterprises, resulting in 150 to 170 million new jobs.
  • Credit Demand Growth: Over the past five years, demand for business loans by women has grown 3.9 times, with a significant increase in the number of women borrowers.

Key Figures at the Launch

  • Anna Roy, Mission Director, WEP, and Principal Economic Adviser, NITI Aayog.
  • Rajesh Kumar, MD and CEO, TransUnion CIBIL.
  • Sunil Mehta, Chief Executive, Indian Banks’ Association.
  • Neeraj Nigam, Executive Director, Reserve Bank of India.

Benefits

  • Economic Growth: Empowering women entrepreneurs supports India’s goal of becoming a USD 5 trillion economy by fostering sustainable business practices and inclusive growth.
  • Educational Support: WEP aims to bridge the information gap by offering support across entrepreneurship promotion, access to finance, training, and market linkages.

Conclusion

The SEHER Credit Education Program is a significant step towards empowering women entrepreneurs in India. By addressing financial literacy and access to credit, the initiative aims to create a more inclusive and dynamic business environment for women, contributing to broader economic growth and job creation.

Multiple Choice Questions (MCQs)

  1. What is the primary objective of the SEHER Credit Education Program?

    • A) Promote international trade
    • B) Increase financial literacy among women entrepreneurs
    • C) Provide free business loans to women
    • D) Encourage foreign investment

    Answer: B) Increase financial literacy among women entrepreneurs

  2. Who partnered with the Women Entrepreneurship Platform to launch SEHER?

    • A) Reserve Bank of India
    • B) TransUnion CIBIL
    • C) Indian Banks’ Association
    • D) NITI Aayog

    Answer: B) TransUnion CIBIL

  3. How many new women-owned enterprises could potentially be created by accelerating women’s entrepreneurship in India?

    • A) 10 million
    • B) 20 million
    • C) 30 million
    • D) 50 million

    Answer: C) 30 million

  4. Which organization incubates the Women Entrepreneurship Platform?

    • A) Ministry of Finance
    • B) Ministry of MSME
    • C) NITI Aayog
    • D) Reserve Bank of India

    Answer: C) NITI Aayog

  5. What percentage of India’s micro, small, and medium enterprises are women-owned, according to the Udyam Registration Portal?

    • A) 10.5%
    • B) 15.5%
    • C) 20.5%
    • D) 25.5%

    Answer: C) 20.5%

References

  • India Education Diary: Women Entrepreneurship Platform and TransUnion CIBIL Partner to Launch SEHER Program​ (EduIndia)​.
  • Devdiscourse: SEHER Program Launched to Empower Women Entrepreneurs​ (DevDiscourse)​.

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Current Affairs: SEHER Credit Education Program Launched to Empower Women Entrepreneurs
SEHER Credit Education Program Launched to Empower Women Entrepreneurs
The SEHER Credit Education Program, launched by the Women Entrepreneurship Platform (WEP) in partnership with TransUnion CIBIL, aims to empower women
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