Empowering women at the grassroots level is essential for driving inclusive economic growth and building stronger communities. BOBCARD LIMITED, a wholly owned subsidiary of Bank of Baroda, has taken a significant step in this direction with its CSR initiative, 'Reimagining Lives: Shakti Samriddhi.'
In this exclusive interview, Mr. Ravindra Rai, MD & CEO of BOBCARD LIMITED, shares the vision and motivation behind launching Shakti Samriddhi. He sheds light on how the initiative supports aspiring women entrepreneurs through mentorship, skill-building, financial literacy, and business startup support. From success stories like that of Ms. Laxmi Jaiswar to the strategic collaboration with United Way Mumbai, Mr. Rai walks us through how the program is not just helping women start businesses, but also building confidence, resilience, and long-term sustainability.
The conversation also covers key performance indicators used to measure success, the structure of ongoing support, and plans for scaling the program across India. Mr. Rai also highlights the importance of partnerships in ensuring impactful execution and hints at future collaborations to expand the program’s reach and impact.
This interview offers a deep dive into how BOBCARD is translating its vision of financial empowerment into real-world impact, one woman entrepreneur at a time.
Q. What inspired BOBCARD to launch 'Reimagining Lives: Shakti Samriddhi,' and how does this initiative align with your broader CSR vision?
A. At BOBCARD, we believe that financial empowerment is key to reimagining/transforming lives. "Reimagining Lives: Shakti Samriddhi" was born out of our commitment to supporting women entrepreneurs at the grassroots level—providing them with the tools, knowledge, and financial access to thrive. This initiative aligns with our larger CSR vision of fostering financial independence and economic resilience, ensuring that women not only build sustainable businesses but also uplift their families' & communities.
Q. Women entrepreneurs face unique challenges in the startup ecosystem, such as access to funding and mentorship. How does this program specifically address these barriers?
A. Shakti Samriddhi is designed to break these barriers by providing business starter kits, mentorship & financial literacy training. We have collaborated with United Way Mumbai, A Nonprofit Organisation with a mission to harness the power of community care to create a better world for all. The partnership will ensure that these women entrepreneurs are guided well through a structured program. Through this, we aim to bridge the gap between ambition & access, opportunity & ownership, empowering our women at grassroots to build their businesses with confidence.
Q. Can you share a success story or an inspiring journey of a beneficiary who has significantly benefited from this program?
A. One of the beneficiaries of the program, Ms. Laxmi Jaiswar, a resident of Kandivali, is physically challenged. She teaches young orphan girls how to sew. She aspired to start her own business and continue teaching these girls but lacked the financial means. Through Shakti Samriddhi by BOBCARD, she received a Sewing Machine Entrepreneurial Kit along with training and mentorship. Now, she aims to establish her venture and achieve new milestones.
Q. The program focuses on skill-building and financial literacy. Can you elaborate on the specific training modules and key competencies being taught?
A. The training modules under Shakti Samriddhi covers various aspects to empower women with skills, knowledge, and confidence. The program includes training on Business Plan, Stakeholder Management, Marketing, Funding Strategies, Positive Bank Balance, Inventory Management, Operational management, Investing, and Financial Management encouraging them to confidently navigate business acumen. Beyond just Marketing and business planning Shakti Samriddhi also emphasise on confidence, ensuring that these women are not just equipped with technical knowledge but also the mindset to succeed as entrepreneurs. The goal of the program is to foster inner strength, resilience combined with Business Intelligence
Q. Mentorship plays a crucial role in entrepreneurial success. How does the mentorship structure work in this program, and what kind of ongoing support is provided?
A. The beneficiaries undergo Entrepreneurship Development Training, where they learn essential skills such as digital and financial literacy. Additionally, they receive mentorship from the on-ground Project Team for 3 to 6 months to help them navigate any challenges. To foster growth and support, location-based community groups are formed, enabling these businesses to thrive through collective support and continuous monitoring.
Q. What are the key performance indicators (KPIs) used to measure the success of this initiative, and what impact do you foresee in the coming years?
A. We measure the success of Shakti Samriddhi through key performance indicators such as:
- Number of women entrepreneurs who received business startup kits
- Number of beneficiaries who gained basic knowledge of banking and finance
- Long-term impact on financial independence and community upliftment
Looking ahead, we aim to scale the program’s reach across India, expanding accessibility to the maximum number of women entrepreneurs. By creating a flourishing circle of empowerment, we strive to include more women in the entrepreneurial ecosystem—ensuring not just their growth but also contributing to the overall economic progress of our country.
Q. Are there plans to scale the program further in terms of reach, number of beneficiaries, or additional entrepreneurial sectors?
A. Yes, we are actively exploring ways to expand Shakti Samriddhi across more geographies, covering diverse business fields.\
Q. United Way Mumbai has been a key partner in this initiative. How has their collaboration helped enhance BOBCARD’s efforts in empowering women entrepreneurs?
A. United Way Mumbai has been instrumental in the program's execution, bringing deep expertise in grassroots development and community engagement. Their on-ground presence has enabled us to reach the right beneficiaries and ensure that the program is implemented effectively. The partnership has added significant value to our vision under "Shakti Samriddhi" program.
Q. Looking ahead, is BOBCARD planning to bring in more strategic partners or expand collaborations to further amplify the program’s impact?
A. Absolutely. At BOBCARD, we recognize that sustainable impact requires collaboration. We are open to creating new alliances, ensuring long-term success for the women we support.
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