SAVE Solutions Pvt Ltd has made remarkable strides in addressing financial inclusion and employment generation in rural India. Founded in 2009 by three friends from Gaya, Bihar, as the Society for Advancement of Village Economy (SAVE), it has grown into a comprehensive financial services provider with a strong presence in underserved regions across India. Initially, SAVE partnered with State Bank of India to launch customer service points (CSPs), enabling rural populations to access essential banking services such as account openings, withdrawals and social security schemes.
SAVE’s CSP model has been a game-changer, particularly in remote villages where traditional banking is scarce. Over 14,000 CSPs now operate in more than 49,000 villages, providing door-to-door financial services and creating job opportunities. These CSPs are often managed by local individuals, significantly contributing to employment in rural areas. The model emphasises empowering women, with over 3,500 female entrepreneurs running these kiosks, many earning substantial incomes.
The impact of SAVE Solutions goes beyond employment. By promoting financial literacy and linking people to government social security schemes such as the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Atal Pension Yojana (APY), it has touched the lives of over 22 million people. The company has also disbursed loans worth more than ₹5,800 crore, supporting over 1.5 million small enterprises and contributing to the economic empowerment of rural communities.
Despite challenges like Internet access and building trust in new banking models, SAVE Solutions has proven that financial inclusion can drive social and economic change, laying the foundation for sustainable development in India’s most remote areas.
Mumbai, a bustling city of dreams, is marked by stark socio-economic divides, with nearly half its population living in slums. These marginalised communities often struggle with housing and financial stability,...
West Bengal, known for its cultural heritage, has embraced progress through two transformative initiatives launched by the Directorate of MSME in August 2023: ‘The Artisan Enlistment Portal and Artisan Card’...
In a rapidly digitizing world, Union Bank of India has emerged as a guardian of cyber security through its Cyber Security Centre of Excellence (CCoE), the first-of-its-kind in India’s banking...
In Jammu and Kashmir, accessing government services was once a daunting task. Citizens struggled with navigating multiple portals, physical visits to offices, and endless paperwork, often resulting in delays and...
Step 1: Call for Project Submission Call for..
In the run-up to the elections, the most..
State Rankings Highlights Andhra Pradesh retains number one..
"American roads are good not because America..
Inclusion is the first magazine dedicated to exploring issues at the intersection of development agendas and digital, financial and social inclusion. The magazine makes complex policy analyses accessible for a diverse audience of policymakers, administrators, civil society and academicians. Grassroots-focused, outcome-oriented analysis is the cornerstone of the work done at Inclusion.
