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The MoU outlines the following key areas of collaboration:
Memorandum of Understanding (MoU) Signed
- Sa-Dhan, a self-regulatory organization for microfinance institutions (MFIs), has entered into a Memorandum of Understanding (MoU) with the Bank of India (BoI) to enhance financial access for small, micro, and women-led enterprises in India.
- The collaboration aims to address key barriers to financial inclusion and foster sustainable economic growth.
Focus on National Financial Inclusion and SDGs
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- The partnership is aligned with India’s National Financial Inclusion goals and the Sustainable Development Goals (SDGs), particularly in areas such as:
- Poverty alleviation
- Gender equality
- Economic empowerment of underserved communities.
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Key Areas of Collaboration
- Enterprise finance for self-help groups (SHGs) and non-SHG members.
- Climate-resilient technologies and green financing, enabling businesses to adapt to climate change.
- WASH (Water, Sanitation, and Hygiene) financing to improve infrastructure and living conditions.
- Co-lending to Microfinance Institutions (MFIs) to provide credit to underserved businesses.
- Financial literacy and awareness programs, including guidance on government schemes to improve access to financial services.
