Niyo fosters financial literacy among India’s labour force with Niyo Pathshala
Delhi: Niyo Bharat – a neo-bank which offers digital banking solutions to India’s blue-collar workers, has set off on a mission to provide financial literacy to India’s labour force through a novel initiative called ‘Niyo Pathshala’. As part of this digital initiative, the company is playing a vital role in educating thousands of blue-collar workers about the benefits & features of branchless banking.
Niyo Pathshala also provides sessions on how they can manage their finances during the lockdown. Through the session Niyo is also generating awareness on security measures like pin change & lock/unlock card through the app so as to avoid any ATM frauds, etc. which is currently on the rise.
Darpan Sharma, Business head, Niyo said, “Niyo Bharat has envisioned digital banking solutions for Indian blue collar workforce. We are on a mission to revolutionize the banking experience of India’s labour force which has been historically underserved by traditional banks. Niyo Pathshala is a step in this direction to provide digital banking literacy for the blue-collar segment to not only foster saving habits but also to prevent frauds that have become more prevalent in recent times.”
Niyo Bharat mobile app is a multilingual app which has been tailor made for blue collared employees with a voiceover enabled feature to benefit moderately educated individuals. To ensure better cash flow and to meet the emergency needs of the employees, it provides the Salary Advance feature. Niyo Bharat endeavours to inculcate the habit of disciplined savings by providing wealth products like Mutual Funds and Digital Gold wherein investments can even be done in low denominations. Other salient product features include free fund transfer facility and free accidental death insurance for every active user. Niyo Bharat’s robust 24 x 7 Customer Service Team caters to issues arising at any hour of the day via a multilingual captive call center facility.
The app also helps with other critical information such as digital passbooks and bank statements. Niyo Bharat today has over 5,000 corporations directly connected and over 15 lakh customers.