Reliance Foundation to Make Women Financially Literate

Reliance Foundation and Crisil Foundation will work together to financially educate women from Mumbai slums.

Mumbai, Maharashtra, January 3, 2016 /India PRwire/ -- The philanthropic arm of Reliance Industries, Reliance Foundation, has joined hands with Crisil Foundation to boost financial literacy among women in Mumbai's slums.

Reliance Foundation's Financial Literacy Program

Both Foundations will work to financially educate around 5 lakh women. This initiative is a part of Prime Minister Narendra Modi's 'BetiBachaoBetiPadhao' program.

A release from Reliance Foundation said that the organization has conducted a study of Mumbai's slums with the assistance of Crisil's technical knowledge. It was found that women in weaker sections of society were never involved in financial matters. Employed women gave their salaries to their husbands or fathers to manage the money. "Psychologically these women do not feel adept at handling finance. While in reality they are much better at managing finances, a majority of them know nothing even about the basics of banking", the release added.

The program was initiated on 28th December. It is aimed at women empowerment. The program also aims to inculcate the habit of saving among them. After the study, a plan has been designed to teach the basics of banking to the women. The Foundation will also help them benefit from government schemes, including Pradhan Mantri Jan DhanYojna, Pradhan Mantri Suraksha BimaYojna, Atal Pension Yojna, and RashtriyaSwasthaBimaYojna. Reliance Foundation will assist all the women with the opening of their bank accounts under the Jan DhanYojna.

Reliance Foundation's Retail Training Program

In Andhra Pradesh, Reliance Foundation began a pilot project named 'Skilling Entrepreneurship and Alternate Livelihood Support'. The program has trained 15 young people, belonging to the marginalized sections of Krishna district.

These youngsters come from families of poor and landless farmers. They were taught retailing skills through employment with Reliance Retail. They are paid a minimum of INR 8,000 per month. Their performance can even be rewarded with promotions to store managers in three years. This will increase their earning to INR 25,000 per month.

Chief Operating Officer (COO) of Reliance Foundation, JitendraKalra said that the program will change the lives of these families. Through the program, the foundation is trying to reach out to rural marginalized communities by training the youth and boosting their self-confidence.

Reliance Foundation's Assistance to Puducherry

Recently, Reliance Foundation issued a cheque of INR 1.11 crores to the Chief Minister of Puducherry, N.Rangasamy. The fund will help the Puducherry government enhance facilities in the critical healthcaresection, in the hospital next to the state-run Indira Gandhi Medical College and Research Institute. The government will buy modern equipment for the ultrasound scan and other wings of the hospital.

Nathwani's Comment

Rajya Sabha Member of Parliament (MP), ParimalNathwani praised Dhirubhai Ambani's work for Indian industry. He spoke on the eve of Dhirubhai Ambani's 83rd birth anniversary. Nathwani is also the Group President of Corporate Affairs at Reliance Industries. He recalled that Ambani had planted over 20 lakh trees at the company's refinery in Jamnagar at Gujarat, abiding by a court order. His son, Mukesh personally took care of the planted saplings, he added.

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