Prime Minister Launch Ehsaas Mobile Saving Wallets
Prime Minister inaugurate the Ehsaas Saving Wallets (Ehsaas Bachat Bank Account) initiative The financial and digital inclusion of 7 million households is one of the seven overarching goals of the Ehsaas Strategy. Ehsaas Saving Wallets (ESWs) initiative is predicated on the understanding that digital and financial inclusion will open avenues for women to take better advantage of opportunities offered under the Ehsaas National Poverty Graduation Initiative.
The saving wallets initiative is a strategic step forward for Kafaalat households to better manage financial shocks, meet emergency needs, and invest to increase their earnings; to climb out of poverty. This program aims to encourage savings which have been shown to help alleviate poverty.
The newly launched Ehsaas Bachat account will deepen the financial inclusion initiated under the ‘One Woman One Bank Account Policy.’ The design of the Bachat bank account is simple in the following ways: the accounts are targeted to Kafaalat beneficiaries; beneficiaries can open these accounts at agent shops or ATMs; and initial transactions through these accounts will include balance inquiry, cash in and cash out, transfer funds received from Ehsaas to mobile accounts, mobile top-up, utility bill payments, and money transfers, etc.
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