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Utkarsh Welfare Foundation

Utkarsh Welfare Foundation was incorporated in August 2010 and is registered under section 25 of companies’ act 1956 and aims to provide various services and products for the development and assistance to the underprivileged population in rural & urban sectors by way of market linkage opportunities, education, health and vocational training program. UWF aims at empowering grass root population especially women, making them self-reliant and transforming them into successful entrepreneurs.

UWF aims to make a meaningful and sustainable impact in the lives of the community through a multi-pronged service oriented market led approach. UWF has initiatives that focuses on education, health, skill development, micro enterprise training & environment conservation.

Utkarsh Welfare Foundation aspires to be leading implementing agency and knowledge partner in the domain of social, welfare and CSR activities. It has partnerships with multiple industry leaders like ACCION, International Finance Corporation (IFC), SIDBI PSIG, Swiss Capacity Building Facility, Dutch Entrepreneurial Development Bank (FMO) and leading health service providers.

Financial Education Initiatives

Financial education programs are aimed at building financial capabilities to enhance financial decision making process among the resource poor and financially excluded section in the underprivileged and underserved geographies through right information, instructions and advices. Total beneficiary outreach under Financial Education initiatives of Utkarsh Welfare Foundation has been 390709 as on December, 2019.

Learnings and experiences gained through the implementation of various projects on financial education with reputed knowledge and resource partners such as ACCION, FMO, IFC, ISMW, SCBF, SIDBI, etc. The company has developed in-house capacity to design and deliver financial literacy for targeted beneficiaries. Utkarsh Welfare Foundation aims to develop financial education initiatives which are replicable and scalable.

Approaches and models for delivering Financial Education

Models for delivering financial education and advisory services to the beneficiaries incorporates best practices in the domain through partnerships. Currently, Utkarsh Welfare Foundation is implementing Financial Education initiatives at 29 locations across Bihar, Jharkhand, Madhya Pradesh, Uttarakhand and Uttar Pradesh.

Class Room Training Approach:

This adopts Intensive approach towards the delivery of financial literacy to target population. Trainings are organized in small batch sizes of 20-25 and around 12 hours of inputs are given covering modules on financial planning, budgeting, savings, borrowings, investments, insurance, banking services and targeted govt. schemes. The methodology of training adopted is participatory & interactive. Audio-visuals, poster, banners, group discussion, role plays, exercises, games, and other participatory training tools and other aides used. Trainers effectively communicate and transmit the key messages to the participating women/men beneficiaries. Financial literacy training provided to achieve the desired objectives are delivered in 12 hours session spread across 3 days for each class room training for each batch. Total beneficiary outreach under Financial Literacy class-room trainings for the FY 2019-20 has been 50514.

Mass Awareness and Community Based Approach:

Mass Awareness program is a one-day program organized to introduce the subject to the masses (village communities) as well as to assess the response of the grass root beneficiaries in a particular area. It results in a clear understanding of the area of emphasis and the degree of emphasis required for bringing about the desired change. Campaigns focus more on audio visual aids to convey the key messages of the subject matter, viz., Financial Literacy, Government schemes rights and entitlements, etc. Target Groups includes entire village community, that is, around 50-200 including women and other members from their household especially male and older members who specially influence the financial decision making process. Total beneficiary outreach under Mass Awareness Camps for the FY 2019-20 has been 14177.

Special Events and other programs under Financial Education
Financial Literacy Week Celebration:

Utkarsh Welfare Foundation celebrated Financial Literacy Week at first week of June from 4th – 8th 2018 with theme of “Consumer Protection”.

Dialogue on Business (DOB):

Financial Literacy for Micro and Small Business Entrepreneurs. Dialogue on Business (DOB) is an award-winning business skills training program developed by the knowledge partner, ACCION. It is based on adult learning principles, which draws from the knowledge and experience of program participants. It uses interactive games and role-playing tools to help participants solve real-life business challenges. The workshops are based on the real situations of participants, rather than textbook cases. DOB is found to be an interesting and engaging activity for people, even with little formal education, who may not learn effectively in a traditional classroom set-up. So far 3730 beneficiaries have successfully attended the DOB program.

Digital Financial Literacy:

Utkarsh Welfare Foundation organised a mega camp and started implementing series of camps on digital financial literacy from the month of May 2017 and is continued across districts in Bihar & Uttar Pradesh. New training modules which includes flash cards, Audio visuals, Snake & Ladder game have been developed with technical core team members of Utkarsh Welfare Foundation. The total 66409 beneficiaries have successfully attended the Digital Financial Literacy program as on December 2019 and for the FY 2019-20 the total beneficiaries outreach has been 10831.