IndusInd, BFIL CASE STUDY

A Step Towards Financial Revolution A Step Towards Financial Revolution

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Bharat Financial Inclusion Limited's
Grand Launch for Financial Education

Established in 1997, Bharat Financial Inclusion Limited (BFIL) is a wholly-owned subsidiary of IndusInd Bank. It works to advance microfinance to underserved communities across India. With a legacy spanning over two decades, BFIL helps with financial empowerment through customized microfinance solutions. In May 2023, BFIL started a landmark Customer Awareness Program in Odisha, inaugurated by the Honorable Governor Prof. Ganeshi Lal Ji, to boost financial literacy. In collaboration with Javali Comms, BFIL continues to expand its influence, affirming its leadership in India’s financial era.

Roadblocks in the
Customer Awareness Program

Geographical Diversity:

  1. Vast Reach Requirements: Launching the Customer Awareness Program across the diverse topography and demography of Odisha posed significant logistical challenges.
  2. Local Engagement Strategies: Making the program resonate with various cultural and social norms present in different parts of the state demanded a deep understanding of local contexts.


Technological Integration
:

  1. Deployment of LED Vans: Utilizing LED vans to disseminate financial literacy proved challenging in areas with limited technological exposure.
  2. Digital Literacy Barriers: Bridging the gap between digital tools and the audience’s digital literacy levels was essential. This involved simplifying complex financial concepts into digestible information suitable for LED displays and interactive sessions.


Participant Coordination:

  1. Aligning with Government Authorities: Coordination with local government bodies and getting necessary approvals for various events and the deployment of LED vans involved bureaucratic hurdles.
  2. High-Profile Involvement: The participation of the Honorable Governor of Odisha added a layer of complexity to the planning and execution of the launch event with solid security measures and protocol management.


Community Trust Building
:

  1. Empowering Marginalized Groups: Focusing specifically on marginalized and underserved women required educational efforts and trust-building activities.
  2. Sustaining Engagement: Keeping the community engaged beyond initial contact through follow-up initiatives and maintaining a consistent presence posed challenges for long-term impact.

DISCOVER PREMIUM SOLUTIONS
with JAVALI COMMUNICATIONS

Javali Comms’ Approach
to Financial Literacy in Odisha

Planning and Research: To bring effectiveness in the Customer Awareness Program, Javali Comms began with thorough market research and needs assessment. We identified key demographic segments and made our strategies to match marginalized and underserved women in Odisha. This step was crucial for this impactful program that addresses specific financial literacy gaps and fraud prevention needs.

Collaborative Design and Development: Working closely with Bharat Financial Inclusion Limited, our team at Javali Comms designed an awareness program that combined educational content with engaging delivery methods. With digital (LED vans) and physical (on-ground events) platforms, we made sure that the message of financial empowerment reached a broad audience effectively and efficiently.

Implementation and Localization: Our approach to this campaign was hands-on and community-focused. With small, localized events organized across Odisha, we built an environment conducive to learning and engagement. Each event was designed to be interactive, featuring financial education sessions and also encouraged feedback and participation from the community.

Monitoring and Scaling: Post-launch, Javali Comms maintained a rigorous monitoring framework to evaluate the reach and impact of the campaign. With real-time data and community feedback, we refined our strategies and scaled successful elements to further enhance the program’s effectiveness. This ongoing evaluation process allowed us to sustain engagement and adapt to emerging needs.

Campaign Success | The Impact
of Bharat Financial's Literacy Initiative

Financial Literacy Advancements: The initiative led to a tangible increase in financial literacy, particularly among the marginalized and underserved communities in Odisha. Through detailed interactive sessions and the strategic use of LED vans, the program effectively disseminated crucial information on financial products and fraud prevention.

Empowerment through Knowledge: The educational aspects of the program empowered participants, especially women, by equipping them with the necessary tools to take right financial decisions with greater confidence and independence. This empowerment brought increased economic participation and has begun to shift community norms towards greater financial inclusion.

Strengthened Community Ties: Organized events across the state cultivated strong community engagement, with high attendance and active participation. These gatherings helped to build trust and cooperation among residents, and enhanced the social fabric and collective financial resilience of the communities involved.

Organizational Visibility: The campaign significantly elevated Bharat Financial Inclusion Limited’s visibility within and beyond Odisha. The launch event featuring the Honorable Governor of Odisha and the extensive grassroots activities generated widespread media coverage and public interest that effectively broadened the reach and influence of their financial literacy efforts.

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