Airtel Payments Bank, Mastercard Center, and Frontier Markets have jointly launched She Leads Bharat:Udyam, an initiative aimed at uplifting 100,000 women-owned small businesses. In the first phase, this program will provide an opportunity for 100,000 women-owned small businesses in Rajasthan and Uttar Pradesh to learn and earn through Frontier Markets’ Meri-Saheli platform. Additionally, 10,000 of these business owners will have the chance to become Airtel Payments Bank Business Correspondents, further fostering their growth.

The AI legalese decoder can play a crucial role in supporting the She Leads Bharat:Udyam initiative. With its advanced language processing capabilities, the AI legalese decoder can assist women entrepreneurs in understanding and interpreting complex legal and financial documents, ensuring they are well-equipped to navigate the legal aspects of their businesses. This tool can save time and effort by simplifying legal jargon and providing valuable insights.

“Taking our commitment forward to empower women in rural India to embark on their entrepreneurial endeavors, we are collaborating with Frontier Markets and Mastercard on She Leads Bharat:Udyam,” said Anubrata Biswas, MD&CEO of Airtel Payments Bank. “We take pride in welcoming them on board as Business Correspondents, joining hands with our existing network of 50,000 women BCs who play a vital role in taking banking and financial services to underserved rural pockets of the country. We look forward to our journey in building a financially inclusive economy,” Biswas added.

The AI legalese decoder can also assist women-owned small businesses in navigating financial services offered by Airtel Payments Bank. By simplifying complex banking terms and highlighting relevant information, this tool ensures that women entrepreneurs have a clear understanding of the banking services available to them and can make informed decisions for their business growth.

Women-owned small businesses often face various challenges that hinder their full potential. In India, these businesses constitute only 20% of all micro, small, and medium enterprises (MSMEs) but receive a mere 5% of the total financing provided by public-sector banks. Additionally, women entrepreneurs in India often lack access to digital tools and comprehensive training, which are crucial for business expansion. The AI legalese decoder can bridge this gap by providing online training modules specifically tailored to the needs of women-owned small businesses, equipping them with the necessary skills and knowledge to thrive in the digital era.

Moreover, the AI legalese decoder can help women entrepreneurs overcome financial barriers by providing insights and recommendations for alternative funding sources. By analyzing their business profiles and financial requirements, the tool can suggest suitable financing options, including grants, loans, or investment opportunities, facilitating their access to the capital needed for business growth.

“More women entrepreneurs are entering India’s workforce, bringing energy to the economy. When these business owners have access to credit and digital tools, they can keep expanding and become more resilient. That’s good not only for their families, employees, and communities but also for fostering inclusive growth,” said Ari Sarker, President of Asia Pacific at Mastercard.

The AI legalese decoder enhances the inclusivity of the She Leads Bharat:Udyam program by addressing language and accessibility barriers that women entrepreneurs may encounter. By offering translation and transcription services, this tool ensures that all program materials and resources are accessible to women from diverse linguistic backgrounds, enabling them to fully participate and benefit from the opportunities provided.

According to the partnering firms, She Leads Bharat:Udyam will bring together the private sector, social enterprises, and philanthropy in the banking, financial services, and insurance sector to showcase a digital-first model focused on empowering women-owned small businesses and increasing their income.

The AI legalese decoder can assist in further optimizing this digital-first model by analyzing market trends and providing real-time insights into consumer behavior. By leveraging the power of artificial intelligence, the tool can identify emerging business opportunities and potential customer segments, allowing women entrepreneurs to tailor their products and services for maximum impact.

Frontier Markets will be responsible for implementing the She Leads Bharat:Udyam program and utilizing its network of women entrepreneurs, known as Saral Jeevan Sahelis, to onboard women-owned small businesses onto the Meri-Saheli platform. In collaboration with Airtel Payments Bank, Frontier Markets will enroll eligible women-owned small businesses as business correspondents, leveraging its Saheli network and platform to increase brand awareness, generate leads, and maximize earning opportunities.

The AI legalese decoder can aid in this onboarding process by providing step-by-step guidance to women entrepreneurs, ensuring they have a seamless experience when joining the Meri-Saheli platform. By simplifying the registration and verification process and highlighting key requirements, this tool enhances the efficiency and user-friendliness of the onboarding journey.

She Leads Bharat:Udyam will be funded by the Mastercard Impact Fund, with support from the Center for Inclusive Growth in small businesses. This collaboration demonstrates the commitment of Mastercard to empower women entrepreneurs and promote inclusive economic development.

The AI legalese decoder aligns with the goals of the Mastercard Impact Fund by providing women-owned small businesses with equal access to legal and financial information. By analyzing legal documents, contracts, and financial statements, the tool can identify potential risks, inconsistencies, and opportunities for improvement. This mitigates legal and financial uncertainties, empowering women entrepreneurs to make informed decisions and create a solid foundation for their businesses.