Public-sector banks (PSBs) are gearing up to introduce specialized financial schemes targeted at women, especially entrepreneurs and startup founders, who often encounter obstacles in accessing funding through traditional channels. Mandated by the Department of Financial Services, this initiative is part of the Enhanced Access and Service Excellence (EASE 7.0) reforms agenda, which prioritizes risk assessment, non-performing asset management, financial inclusion, customer service enhancement, and digital transformation.
The recent general elections highlighted the significant influence of women, with approximately 312 million female voters participating. In response, PSBs are launching customized banking services and ‘loan melas’ to assist women in securing financial backing for their ventures. Furthermore, PSBs will facilitate connections between women founders and startup incubators, fostering the growth of their businesses. Financial literacy camps will also be conducted to empower women financially, offering guidance on investment, financial planning, and access to government schemes. PSBs are dedicated to supporting women’s entrepreneurial endeavors through innovative financial products and services within the framework of EASE 7.0.
