India’s largest branchless banking and digital network PayNearby has announced a partnership with Rajasthan Grameen Aajeevika Vikas Parishad (Rajeevika) to onboard women Business Correspondents (BC-Sakhis) from Self Help Groups (SHGs) across eight districts of Rajasthan. The initiative aims to empower rural women by offering them sustainable livelihood opportunities while expanding financial inclusion at the last mile.
Under the partnership, PayNearby — a corporate BC of YES Bank — will train and deploy 10,000 women BC-Sakhis by FY24 across districts including Bikaner, Churu, Hanumangarh, Sri Ganganagar, Barmer, Jaisalmer, Jodhpur, and Pali. These BC-Sakhis will operate as Business Correspondents (BCs) and Customer Service Providers (CSPs) for various Gram Panchayats, bringing essential banking and digital services closer to rural households.
The move aligns with the government’s “One Gram Panchayat, One BC-Sakhi” mission that seeks to ensure at least one woman BC in every panchayat by 2023–24. PayNearby also aims to digitize transactions worth ₹10,000 crore through the SHG ecosystem, enhancing both digital literacy and financial access for women in rural areas.
Anand Kumar Bajaj, Founder, MD & CEO of PayNearby, said, “For India to progress, we must empower our women to lead this change. Through this partnership, we will equip women with digital and financial tools that give them better control over their money. As aware banking sakhis, these women will bridge the gender and rural-urban divide, strengthening our ‘Sashakt Naari, Sashakt Samaaj, Sashakt Desh’ mission.”
Alok Jha, Head – Strategic Initiatives, PayNearby, added that the partnership will help build a “cash-light SHG ecosystem” and boost financial product adoption in remote areas.
Dr. Hardeep Singh Chopra, Project Director, Rajeevika, said the collaboration will help “bring women up the financial inclusion curve” and empower them to “acquaint rural families with digital and formal banking systems.”
