EShakti Workshop Micro Credit Innovations Department NABARD HO

EShakti Workshop Micro Credit Innovations Department, NABARD HO September 23 -24 Lucknow https: //eshakti. nabard. org

What is ? • A step to mainstream SHGs with FI agenda and Go. I’s Digital India mission • To ensure holistic picture of SHGs in the country • Easily ‘searchable’ digitised information, sourced from real time database • Aadhaar/EPIC identified accounts helps in checking duplication • Increases bankers’ comfort in credit appraisal & linkage

: Digitisation of SHGs Implementation in 250 districts across the country § Launched to § address the concerns of bankers § take digital revolution to poor SHGs women § Phase I – Pilot in 2 districts (2015) § Phase II – Pilot in 23 districts (2016) and expanded to 75 more districts (2017) § Phase IV – Being expanded to 150 additional districts (2019) § User friendly mobile app in local language § Dedicated Project website https: //eshakti. nabard. org/

Progress under (Phases I, II & III position as on 17. 09. 19) Covered 100 districts 4. 42 Lakh SHGs digitised 2, 32, 860 SHGs credit linked Rs. 7, 520 crore Bank Loan availed

Impact of The project succeeded in realising its objectives 1. 65 38% 2. 33 53% Credit linkage in EShakti districts increased from 1. 65 lakh to 2. 33 Lakh SHGs Data of more than 10 lakh PMJDY, PMSBY, PMJJBY, APY accounts captured under EShakti 11, 821 Bank branches now involved in EShakti. https: //eshakti. nabard. org

Features System generated auto filled loan applications for the bankers Inbuilt automatic dynamic grading of SHGs based on NABARD/ IBA norms SMS alerts in 10 local languages to the SHG members Credit history of SHG & individual members is built up MIS reports generated in the formats as required by bankers Regular updates for transactional data through App

- How? s r o at m i n fa o g n i n rai Monthly T transaction (fin/ non-fin) update through Master data Mobile ‘App’ – SHG on Mobile audit Upload to EShakti Portal through xml tool – SHG Collection of onboarding master data exhaustive SHGs LIVE SMS auto generated/ Loan application Accurate and Timely Transaction uploads critical data audit & Generate Reports

New Initiatives • Discussion with Tamilnadu, Telangana, AP, Bihar for onboarding SRLM SHGs to EShakti through API. Parallel talks with NRLM on. • Training of SHG members on basic financial and digital literacy by BFSI. • Engagement with PFRDA for using EShakti platform for enrollment for APY. • Discussion with IT firms & Banks for using Smart Card Technology for cashless transactions. • Pilot with IDBI/ HDFC Bank for data submission to CICs using EShakti database in consultation with RBI.

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