This collaboration will empower MFIs with data-driven insights, tools, and training to enhance their credit assessment and monitoring capabilities, ultimately promoting financial inclusion and responsible lending.

The initiative will also include multilingual digital content and community-driven outreach to ensure accessibility across regions. By enabling MFIs to better educate and guide their clients, the program seeks to promote responsible credit behavior and expand financial inclusion in underserved markets.

Sa-Dhan, headquartered in Delhi, is a network of more than 230 members, including MFIs, NBFCs and banks in India. Through this collaboration, TransUnion CIBIL and Sa-Dhan will co-create joint regional workshops, state-level events, and focused training modules to help MFIs and their teams better understand the role of credit scores, leverage data for underwriting, and build more resilient credit ecosystems.

Mr. Bhavesh Jain, Managing Director and CEO, TransUnion CIBIL, said: “Credit literacy goes beyond borrowing — it’s about building trust and credibility in today’s financial ecosystem. With over 13 crore individuals having accessed their CIBIL report and score as of December 2024, we are seeing a growing wave of credit-aware consumers. Our partnership with Sa-Dhan is a step toward empowering MFIs and their customers to take control of their financial futures through better credit understanding.”

Mr. Jiji Mammen, Executive Director and CEO, Sa-Dhan, added: “Promoting credit education at the community level is essential for meaningful and sustainable financial inclusion. When individuals understand the role of credit and its utility in accessing or improving livelihood opportunities, they become more confident and capable participants in the formal economy. This partnership will deliver that knowledge directly to where it’s needed most.”

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The MoU is a non-commercial arrangement outlining key areas of collaboration, including enterprise finance for SHGs and non-SHG members, climate-resilient technologies and green financing, WASH (Water, Sanitation and Hygiene) financing, co-lending to MFIs, digital transformation and technology adoption, and, most importantly, financial literacy and awareness of government schemes.

The MoU aims to enhance collaboration with microfinance institutions to provide affordable, flexible financing to underserved communities, particularly women entrepreneurs. Loan disbursement and monitoring will be enabled through digital platforms. Bank of India and Sa-Dhan will drive initiatives to raise awareness of government schemes, financial services, and social security programmes among rural entrepreneurs.

Bank of India Executive Director P.R. Rajagopal said, “BOI’s partnership with Sa-Dhan will strengthen small, micro and women-led enterprises by enabling timely and seamless access to finance, and supporting key financial inclusion and sustainable development goals. It will benefit SHG and non-SHG members, promote climate-resilient technologies through green financing, and expand the scope of WASH and digital literacy initiatives.”

Jiji Mammen, Executive Director and CEO, Sa-Dhan, said, “Our collaboration with Bank of India marks a significant step toward equitable access to affordable finance for enterprises, including SHGs and non-SHGs, while achieving sustainable development goals such as climate financing. Coupled with digital adoption and financial literacy, we aim to expand enterprise financing to rural and semi-urban areas, empowering small businesses and women-led enterprises with flexible lending for inclusive development.”

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