IEPFA and IPPB Sign MoA to Launch Phase 2 of “Niveshak Didi” to Boost Rural Women’s Financial Literacy

IN NEWS

IEPFA and IPPB Sign MoA to Launch Phase 2 of “Niveshak Didi” to Boost Rural Women’s Financial Literacy

ANALYSIS

1. Context and Objective
   • The Investor Education and Protection Fund Authority (IEPFA) under the Ministry of Corporate Affairs and the India Post Payments Bank (IPPB) under the Department of Posts have jointly signed a Memorandum of Agreement (MoA) to launch Phase 2 of the “Niveshak Didi” initiative.
   • The collaboration aims to enhance financial literacy among rural, semi-urban, and underserved women through community-led awareness programs.
2. About the Initiative – “Niveshak Didi”
   • A unique grassroots financial literacy initiative that trains women postal workers and community leaders to act as financial educators in their respective localities.
   • Phase 1 Achievements:
     • Reached over 55,000 beneficiaries across India.
     • Approximately 60% were women, primarily from youth and economically active groups.
     • Two-thirds of participants were from deep rural areas, ensuring grassroots penetration.
3. Phase 2 Highlights
   • Plans to organize 4,000 financial literacy camps across India.
   • Nearly 40,000 women postal workers to be trained as Niveshak Didis.
   • Focus areas include responsible investing, savings habits, fraud prevention, and digital banking awareness.
4. Key Leadership and Vision
   • Smt. Anita Shah Akella, CEO of IEPFA & Joint Secretary, MCA, emphasized that “Niveshak Didi” is not merely a campaign but a grassroots movement promoting financial empowerment.
   • Lt Col Aditya Sinha, General Manager, IEPFA, stated that the initiative ensures financial education reaches the last mile, empowering women to make informed financial decisions.
   • Mr. Gursharan Rai Bansal, CGM & CSMO, IPPB, highlighted that women serve as natural community influencers and can lead transformational change in financial behavior at the local level.
5. Significance
   • Promotes financial inclusion, women’s empowerment, and digital financial literacy.
   • Strengthens the Government of India’s broader goals of Digital India and financially inclusive growth.
   • Supports creation of a financially confident and self-reliant rural India.

STATIC PART

Investor Education and Protection Fund Authority (IEPFA)

• Parent Ministry: Ministry of Corporate Affairs
• Objective: To educate and protect investors, ensuring they are well-informed about their rights and responsibilities.
• Functions:
  • Promotes financial literacy and awareness of personal finance.
  • Educates on topics such as budgeting, saving, investing, and fraud prevention.
  • Focuses on rural and underserved populations to promote inclusive financial growth.
• Vision: A financially aware and confident India where every citizen has the tools and knowledge to secure their financial future.

India Post Payments Bank (IPPB)

• Established: September 1, 2018
• Parent Department: Department of Posts, Ministry of Communications
• Ownership: 100% Government of India
• Mandate: To deliver affordable and accessible banking services to the unbanked and underbanked using India’s extensive postal network.
• Infrastructure:
  • ~1.65 lakh post offices (≈1.4 lakh in rural areas)
  • ~3 lakh postal employees
• Technology Base: Built on India Stack, enabling paperless, cashless, presence-less banking through biometric and mobile interfaces.
• Customer Reach: Over 11 crore customers across 5.57 lakh villages and towns.
• Vision: To make banking inclusive, affordable, and trusted, ensuring financial empowerment for all.

Updated – 08 Apr 2025 ; 8:37 PM | PIB

News Source:Press Information Bureau (PIB)