L&T Finance Holdings Ltd. launches Digital Sakhi project in Madurai, Tamil Nadu

Madurai, June 2023

L&T Finance Holdings Ltd. (LTFH), a leading non-banking financial company, today announced the launch its Digital Sakhi project in Madurai city of Tamil Nadu. The flagshipCorporate Social Responsibility (CSR) project of the Company – ‘Digital Sakhi’ – trains and nurtures rural women, who in turnpromote women entrepreneurship and Digital FinancialLiteracy (DFL) in their communities.

The launch of the project in Madurai follows the success ofthe Digital Sakhi projects implemented in the states of Maharashtra, Madhya Pradesh, Tamil Nadu, Odisha, West Bengal, Karnataka, and Kerala. In Tamil Nadu the programme was launched in Villupuram district in 2019 and trained over 1 lakh people on digital financial inclusion.

Looking at the success of the project in Villupuram district of Tamil Nadu, now LTFH endeavours to create a cadre of over 100 Digital Sakhis as digital enablers in Madurai who in turn will impart DFL trainings to over 5 lakh community members covering topics like digital modes of payments, access to government entitlements, goal-based savings, etc. In addition,the project aims to support over 600 women entrepreneurs inestablishing and scaling their micro-enterprises which will involve end-to-end solutions like enterprise development trainings, business plans development, linking them financialinstitutions for credit and backward and forward linkages formarketing.

Notably, since its inception in 2017, Digital Sakhi projects have created a cadre of 1,370 Digital Sakhis who have helped upskill over 11,000 women entrepreneurs. In FY23 alone, Digital Sakhis trained and empowered more than 11 Lakhpeople across 4 states on Digital Financial Literacy.

Mr. Dinanath Dubhashi, Managing Director & CEO, L&T Finance Holdings Ltd. said, “Many of our retail businesses directly engage with rural communities giving us an all-encompassing view of customers’ needs, including the gapsthat exist within the community. In 2017, addressing this gapwas the genesis of our flagship Digital Sakhi programme which has resulted in significant achievements across all states where the projects have been implemented. Our Digital Sakhis have effectively helped empower rural communities they operate in by promoting digital financial inclusion, providing impetus to women empowerment and gender equality, thereby strengthening the nation at the grassroot level and contributing to the overall national developmentagenda.”