Kochi: ESAF Small Finance Bank’s Dabba Savings Account campaign won a bronze at Cannes Lions for promoting financial inclusion in alignment with the UN Sustainable Development Goals and India’s government priorities.
ESAF Small Finance Bank has made strides in empowering marginalized women by integrating them into the banking system through the Micro Savings Account, targeting women in economically backward areas who typically avoid bank accounts due to fear of complexity or inaccessibility.
In October 2023, a project was launched in collaboration with MaCann World Group to redesign the traditional rice dabba used by women to include a hidden partition for secure cash storage. ESAF Bank distributed these new dabbas for free at monthly gatherings, facilitating the opening of savings accounts for women. Women could safely continue their saving habits by depositing their savings with ESAF at subsequent meetings. ESAF also provided fingerprint-based account access for withdrawal at rice shops with micro-ATMs using Aadhaar technology.
Paul Thomas said, “For several years, we’ve been striving to empower underprivileged women by transferring their micro savings from homes to the safety of the bank. Initially launched in South India, the project’s positive impact has encouraged us to extend it nationwide.”
Sharing his experience, Sreekanth C. K., the Head of Marketing & PR at ESAF Small Finance Bank, said, “During one of my visits to the village, I witnessed the profound sense of security these women experienced, knowing their savings were safe in an account known solely to them. It brought me immense joy to see the transformative impact we’ve had on their lives.”
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