Successful Launch of Union Bank’s Nari Shakti Branch

FLO Jaipur, partnered with Union Bank of India, has launched five Nari Shakti branches in Bengaluru, Chennai, Visakhapatnam, and Jaipur, inaugurated by Finance Minister Nirmala Sitharaman. Union Bank successfully launched the Nari Shakti Branch on November 10, 2024, inaugurated by Hon’ble Union Finance Minister Nirmala Sitharaman through video conference. This drive aimed to create inclusive and sustainable financial solutions for women entrepreneurs.

FLO Jaipur, under the leadership of Ms. Raghushree Poddar, Chairperson of FLO Jaipur, presented a comprehensive proposal aimed at empowering women across Rajasthan. The meeting was held at the official residence of the Honourable Chief Minister of Rajasthan, Shri Bhajan Lal Sharma. The meeting was chaired by Chief Minister Shri Bhajan Lal Sharma, along with Chief Secretary Shri Sudhansh Pant, and Deputy Chief Minister Maharajkumari Shri Diya Kumari. Past Chairpersons Ms. Bela Badhalia (2013-14) and Ms. Preeti Saboo (2016-17) were also present, lending their experience and expertise to the discussions.

The key highlights:

• Opening Savings Accounts for Women: All women aged 21 years and above, whether employed or homemakers, were recommended to have savings accounts opened for them.
• Training and Financial Literacy: The importance of training women in using banking services effectively, ensuring they could leverage these tools to grow their businesses and manage finances more efficiently, was emphasized.

The proposal aimed to create a strong foundation for women’s economic empowerment by ensuring:

• Financial inclusion and access to banking services.
• Enhanced capacity for women to manage their financial resources independently.
• Support for women entrepreneurs to expand their businesses and strengthen their economic presence.
• Promote female entrepreneurship and contribute to job creation.
• Extend financial support to women-owned manufacturing and service units.

The government, recognizing the importance of gender-specific financial services, acted on the proposal by launching Union Bank’s Nari Shakti Branches. These Nari Shakti branches specifically focus on providing credit to women-led businesses, aiming to remove financial barriers for female entrepreneurs and promote job creation.

The inauguration ceremony of the Union Bank Nari Shakti Branch at Apex Circle, Jaipur, was a significant occasion attended by Mr. Pankaj Dwivedi (Executive Director of Union Bank), Mr. Vipin Shukla (Area Head), Mr. Abhishek Jain (Deputy Zonal Chief), Ms. Shilpi Purohit (Joint Director) and Mr. Vijay Chotiya, Princess Gauravi Kumari of Jaipur, Ms. Seema Sharma, Additional Commissioner of Women Empowerment, Ms. Sunita Sharma, General Secretary of Laghu Udyog Bharati in the Jaipur region, Ms. Raghushree Poddar, Chairperson of FICCI FLO Jaipur, Ms. Neeta Boochra, Founder of FLO Jaipur Chapter and other notable leaders.

The successful execution of the Nari Shakti Branch initiative, proposed during the Pre-Budget Consultation, is a testament to the effectiveness of strategic advocacy and partnerships.