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The Women Entrepreneurship Platform (WEP) and TransUnion CIBIL have collaborated to launch the SEHER program, a credit education initiative aimed at empowering women entrepreneurs in India.
Program Objectives
The SEHER program seeks to address the financial awareness gap that hinders MSME development, particularly among women entrepreneurs.
It aims to:
- Educate women on financial aspects, including CIBIL Rank and commercial credit reports
- Provide financial literacy content and business skills
- Facilitate access to essential financial tools for growth and employment creation
Significance of Financial Literacy
Financial unawareness is a significant barrier to MSME growth, and the SEHER program aims to address this challenge ¹ ². By empowering women entrepreneurs with financial knowledge and skills, the program contributes to India’s goal of achieving a USD 5 trillion economy.
Statistics and Growth Potential
India has 63 million MSMEs, with 20.5% being women-owned, employing 27 million people ¹ ². Accelerating women’s entrepreneurship could create over 30 million new women-owned enterprises and 150 to 170 million jobs. The demand for business loans among women has grown 3.9X from FY 2019 to FY 2024, with women holding 38% of the 1.5 crore live business loans.
Partnership and Commitment
WEP and TransUnion CIBIL are committed to improving financial and credit awareness among women entrepreneurs across India ¹ ². The partnership aims to provide personalized resources and tools for financial literacy, promoting good credit history and CIBIL scores.