RBI’s innovation arm, IIMA Ventures launch startup programme for women’s financial inclusion

The Reserve Bank Innovation Hub (RBIH), a subsidiary of the Reserve Bank of India, has joined forces with IIM Ahmedabad’s startup incubator, IIMA Ventures, to unveil the Swanari TechSprint 3.0 programme.

This initiative aims to boost fintech startups that develop solutions to promote women’s financial inclusion in India. The programme provides expert mentorship, grants, and other forms of funding to help startups refine and expand their products.

Focus on bridging women’s financial gaps

According to the World Bank, nearly 556 million Indian women between the ages of 15 and 64 remain underserved by existing financial services.

The Swanari programme targets self-help groups, women-owned micro, small, and medium enterprises (MSMEs), and female street vendors to address challenges such as inactive bank accounts and limited access to credit.

Commenting on the mission, Aakarsh Naidu, Head of Fintech & Startups at RBIH, said, “Financial inclusion is a fundamental pillar of India’s growth story, and Swanari TechSprint serves as a platform to identify and support innovators dedicated to addressing the unique financial needs of women.” 

Supriya Sharma, Partner – Insights at IIMA Ventures, echoed similar sentiments, noting that many women still face barriers despite efforts to improve financial inclusion. She described the new cohort as a “call to action” for fintech innovators who want to tackle these issues.

Call for applications and past achievements  

Startups interested in joining the programme can apply if they have a gender-focused financial solution with a demonstrable minimum viable product.

Applicants should have secured pre-seed to pre-Series A funding or show significant revenue or user traction. Past cohorts of Swanari TechSprint featured promising names like Kaleidofin, Merakal, Vitto, and Haqdarshak, which showcased inventive ways to empower women financially.

RBIH’s focus on technology-driven financial solutions underscores its commitment to helping Indian consumers gain easier access to essential financial services.

Through the Swanari TechSprint initiative, RBIH and IIMA Ventures aim to foster a generation of startups that can effectively reshape women’s financial experiences and lift millions of women toward economic independence.