Federal bank partners with RBI’s innovation hub to advance digital financial inclusion for women.
What is the news :
- Federal Bank joined hands with Reserve Bank Innovation Hub (RBIH), a wholly owned subsidiary of Reserve Bank of India as scale up partner for phase 2 of SwanariTechSprint Program.
- The term Swanari stands for SwanirbharNari meaning Self Reliant Lady.
About the program:
- The programmeis aimed at advancing digital financial inclusion for women in India and to create digital solutions for bridging the gender gap.
- RBIH is hosting the SwanariTechSprint during 18-22 April 2022 to create and produce smart, creative, and sustainable solutions supporting women’s advancement in financial growth and independence and for women-owned enterprises in India.
- Techsprint will specifically connect fintechs, financial service providers, innovators, and subject matter experts to collaborate, ideate and solve specific problems in real time.
- The panel and participants will predominantly be female – a demonstration of women solving for women. Seven problem statements have been identified and two event tracks are available for Indian nationals and start-ups looking to participate.
- Registration is now open for local participants and volunteers, as well as non-local observers to join the inspiration community, at swanaritechsprint.in. A white paper titled ‘Gender and Finance in India’ by RBIH is also now available at www.swanaritechsprint.in
- Commenting on the association, ShaliniWarrier, Executive Director of Federal Bank said “Diversity and inclusion is a core value for us, and we are delighted to partner with RBI Innovation Hub on Swanari.
- Greater financial inclusion of women will go a long way in moving our nation closer to the US$ 5 trillion economy mark and initiatives like this are a great platform for us to work with FinTechs to solve financial inclusion problems”
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About Federal Bank:
- Headquarters – Aluva Kochi, Kerala.
- Founded- 23 April 1931
- MD and CEO – ShyamSrinivasan
About RBI:
- The Reserve Bank of India(RBI) is India’s central bank and regulatory body and is responsible for the issue and supply of the Indian rupee and the regulation of the Indian banking system.
- It also manages the country’s main payment systems and works to promote its economic development.
- Established : 1 April 1935
- Governor: Shaktikanta Das
- Deputy governors (4): Rabi Sankar, M. RajeshwarRao, Dr. M. D. Patra, M. K. Jain