Empathy and economic sense call for direct cash transfers

During a Leaders with Purpose webinar hosted by Samhita and IDFC Institute on 11 May 2020, Nobel Laureate and Director of J-PAL, Esther Duflo emphasized that direct cash transfers to the poor is both the morally correct and economically wise action required to be taken by larger society.

Protecting human capital to emerge from the crisis

Corporate leaders recommend fortified social security provisions for gig economy workers. Business leaders called for reimagined approaches to social security and employer-employee relationships in the gig economy in light of the gaps that the COVID-19 crisis has revealed.

STFC: How to drive impact in the line of business

With an aim to convert the corporate social responsibility, STFC adopted an impact lens for the same sector their financial products and services are aimed at – transportation and logistics. Mobilizing resources to bridge the skill gap in the industry, STFC trained more than 35,000+ people across India to become skilled commercial drivers. 

The STFC Story

STFC was set up with the objective of offering the common man a host of products and services that would be helpful to him on his path to prosperity. Over the last few years, while their financial products and solutions did help the logistics and transportation industry, a host of external factors adversely affected the number and quality of truck drivers – the primary human capital.

All these factors have contributed to reduce the desirability of truck driving as a profession and created a shortage of skilled drivers in the country. About 28% of the 8.5 million trucks in the country are currently idle, with the shortage projected to rise to about 50% by 2022. To address the shortage of skilled commercial vehicle drivers and create dignified working opportunities for them in other segments, STFC and Samhita curated a flagship program that aims to augment livelihoods through vocational and skill training.

IMPACT ACROSS THE PEOPLE, PLANET, PROFIT (PPP) FRAMEWORK

DHFL|How to explore potential and unlock demographic advantage

DHFL wanted to invest their CSR funds in such a way that they can address critical gaps in 3 cause areas that can in turn help India unlock demographic advantages and explore the full potential of available resources. Read on to find out how they impacted over 150,000 lives.

The DHFL Story

Operating with a vision to engage in programs that can promote the enrichment of the society, DHFL first identified 3 cause areas and then worked with Samhita to curate or redesign programs that can address critical issues across the areas. 

How to reap demographic advantages

Although India houses a high proportion of the world

The revival of the informal sector is crucial to our economy

‘It is evident that there are strong linkages between the formal and informal, as well as between large and small segments of the economy. In order to comprehend the extent and scale of these linkages, it is important to take a closer look at the labour force participation data for the Indian manufacturing sector.’

LSE

Skilling India: Getting it right | Part II

What companies need to keep in mind to ensure that their skilling programs are effective and impactful.

According to Labour Bureau of the Government of India, 90% of the 450 million jobs in India require vocational skills. And right now only 10% of the workforce receive any kind of vocational training at all, formal or informal.[1]

Compare India

Beyond Safety Nets: Navigating India’s Social Protection Landscape

In the vast and diverse landscape of India, a multitude of social protection schemes have been crafted to support the country’s extensive informal workforce. These programs hold the promise of offering a safety net to millions of individuals and families navigating the precarious terrain of informal labour. However, many of these schemes remain underutilised due to various constraints. This blog delves into India’s pressing need for social security programs, the obstacles impeding their adoption, and innovative models to enhance access.

Empowering the Underbanked through the Innovative Pre-Credit Score Initiative

In a world striving for new innovations in pursuing holistic financial inclusion, Samhita-CGF takes a bold step forward with its innovative network alliance to bridge the credit gap faced by underbanked communities and micro-entrepreneurs. In partnership with SIDBI, CGTMSE, and NSDC, Samhita-CGF is introducing the Pre-Credit Score (PCS), an innovative credit scoring framework that empowers first-time borrowers. Unlike traditional scoring models, which rely on past credit history, the PCS delves into income and expense patterns, as well as lifestyle indicators, providing a comprehensive view of creditworthiness. This revolutionary approach opens doors for New To Credit (NTC) and New To Business (NTB) segments, offering them access to formal credit.

The challenge: Access to commercial capital

As per SIDBI, only 2.5 Cr. or less than 40% of the MSME have ever been provided formal credit, which means over 60% of this sector has no access to formal credit. This glaring credit gap persists, particularly in the informal sector, where businesses are often funded by non-transparent, high-interest informal sources. Further, there is a glaring gender disparity in credit usage. Women in India receive credit equivalent to only 27% of the deposits they contribute, while men receive credit equal to 52% of their deposits.

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