L&T Finance Ltd.’s ‘Digital Sakhi’ Project Transforming Lives through Digital and Financial Inclusion
Mumbai, L&T Finance Ltd. (LTF), one of the leading Non-Banking Financial Companies (NBFCs) in the country, offering a diverse range of financial services including Urban Finance, Farm Equipment Finance, SME Finance, and Rural Business Finance, is transforming the lives of rural women across India through its flagship CSR initiative, the ‘Digital Sakhi’ project. Beyond its financial achievements, LTF is dedicated to driving social change in the communities they serve.
Rural India has long grappled with challenges related to digital and financial literacy, gender disparities, and limited access to technology. These barriers have left many women on the fringes of financial inclusion, impeding their ability to enhance their quality of life and contribute to their communities. Recognising these challenges, LTF launched the ‘Digital Sakhi’ Project with an aim to empower women in rural areas by equipping them with the skills and knowledge necessary for financial inclusion, entrepreneurship, and sustainable development.
The group of over 1750 Digi-Finclusion cadre has successfully harnessed the power of digital and financial literacy to empower women and drive social change in rural communities across India. Reaching more than 42 lakh community members across over 2,200 villages, 25 districts, and 10 states, the initiative continues to evolve, expanding its scope to address broader social issues and empowering women to become leaders in their communities. The ‘Digital Sakhi’ project has nurtured over 14,000 women entrepreneurs and linked more than 2 lakh people with social entitlement schemes worth Rs. 60 Crore. It has generated social value worth Rs. 123 for every rupee invested in the project. As the project grows, so too does the impact of these women, who are not only advancing financial inclusion but also championing social causes, paving the way for a more inclusive and empowered rural India.
For instance, Digital Sakhis have facilitated access to government schemes such as the Pradhan Mantri Jan Dhan Yojana, helping countless individuals secure financial inclusion. In one notable case, a Digital Sakhi played a pivotal role in constructing a road under the MGNREGA scheme, significantly improving the infrastructure of her village. Another Digital Sakhi assisted numerous families in enrolling in labour cards, enabling their children to receive scholarships for further education.
Technology has played a crucial role in the success of the ‘Digital Sakhi’ project. The program’s digital modules, regularly updated with relevant topics such as CIBIL scores, fraud prevention, and risk management, have significantly enhanced digital adoption in rural areas. This focus on technology has also enabled Digital Sakhis to take on new and innovative roles. Some are fondly called Drone Sakhis for using drones to provide agricultural services, while others have established Digital Sewa Kendras, offering a range of community services.
Through these efforts, the ‘Digital Sakhi’ Project is not only empowering women but also creating a ripple effect that benefits entire communities. Women trained under this program are becoming catalysts for social change, driving sustainable development in rural India.
