November 28, 2020

Vedanta Jharsuguda rolls out financial literacy training for its ‘Subhalaxmi Co-operative’ members

NFTV:Odisha:Jharsuguda: Vedanta Jharsuguda rolls out financial literacy training for its‘Subhalaxmi Co-operative’ members Jharsuguda, Odisha; September 28th, 2020: Vedanta Jharsuguda, the largest aluminium producer in the country, has begun a series of training sessions on financial literacy for women members of its flagship sustainable livelihood project,   Subhalaxmi  Co-operative. With a membership base of 4000, Subhalaxmi is one of the largest rural co-operatives in the state, engaged in promoting sustainable livelihood opportunities among women,  creating avenues for entrepreneurship through skill development, and providing financial assistance to the members for furthering their enterprises. Each year,   Vedanta and   Subhalaxmi   Co-op collaborate to conduct a   slew of training sessions and capability building exercises for the members.   Given the importance of financial literacy in enabling and sustaining inclusion of rural women at the forefront of economic activities, the company has roped in personnel from Mission Shakti to train these women in savings, micro-finance services, insurance, fund management, financial decisionmaking, etc. Besides financial knowhow, significant focus is also given on developing the right attitude towards financial independence in these women. Given the pandemic scenario, these training were held both virtually and physically,   in small groups,   where internet connectivity was unavailable/erratic.   The   September sessions witnessed the participation of nearly  90  women associated with 26  Self-Help Groups (SHG)   across remote villages inJharsuguda.

Speaking about the company’s endeavours towards rural women’s financial inclusion in economic activity, Mr CN Singh, CEO – Vedanta Ltd., Jharsuguda said, “Vedanta’scommitment to the development of women and children in India is realized through the significant developmental initiatives that we have undertaken at the grassroots level. Financial inclusion of women, especially those hailing from rural margins, is of utmost importance to the true progress of our country. In partnership with Subhalaxmi Co-operative, Vedanta is proudly championing this movement in the many villages of Jharsuguda.”Going forward,  besides financial literacy sessions,  multiple other pieces of training on vegetable cultivation, tailoring, enterprise promotion, etc. have been planned for this fiscal which will cover nearly a thousand women. Through these skill development initiatives, the company aims to increase household income of co-op members by 30-50%.Mr. Jibardhan Kheti, from Mission Shakti (Bargarh), the Govt. of Odisha’s flagship women empowerment initiative, who conducted the financial literacy sessions said, “We are proud to partner with Vedanta, in increasing awareness levels of rural women in the importance of savings, loan,   insurance and other tools of sound financial management.  We hope they would be able to utilise their loans properly in their micro-enterprises and trigger the next phase of socio-economic transformation of the region. On the personal front, we hope that the   knowledge   of   savings   and   expenses   will   help   their   family   in   properly   managing household finances.”