Microfinancing Is An Interesting Space For India’s Progress - Naina Lal Kidwai

Conferred with the esteemed Padma Shri Award, Naina Lal Kidwai, Chairperson, Rothschild India believes microfinancing is an interesting space for India’s progress, which she shared in the fifth episode of ‘UMUTE with-PRCAI, and presented her perspective on rapid digitalisation in India, the importance of women empowerment and lessons from leadership roles she has played. 

She has made significant contributions in the field of banking, trade and industry in her career spanning more than three decades. In her current role, she is the Senior Advisor and a member of the Board of Rothschild & Co. India, where she is assisting the company in advancing its strategic aspirations in the region. She also adorns the role as Chairperson of the India Sanitation Coalition and is passionate about environment, water and sanitation, and has also authored three books. 

Stressing the need to empower women, she cited examples of how microfinancing can help women achieve economic empowerment and move their families forward. “At the core of some of this (digital revolution) is the microfinance movement in the country, which is really growing great guns at the moment. And, I think it is really a very interesting space for our progress. The benefits that come with it and the fact that women are combining in these small groups of eight to 10, standing guarantee for each other in loans.”  

Further in the PRCAI podcast, she applauded the rapid digitalisation being witnessed in the country. Kidwai said, “Today, 40 percent of global transactions happen in India in the digital space. It has been made possible because India built that infrastructure that enables it to use digital solutions to pay.” Though she also raised a concern about the digital divide in the country in terms of women's access to digital solutions. 

In response to the question by the host, Niret Alva about navigating the challenges of a leadership position, she said that is crucial to ensure that everyone is on the same page and being able to move forward. She emphasised, “Objectives cannot be achieved only by directing people because that doesn't work, but by influencing them into that right action.” 

During the insightful episode, she even shared tips on balancing work and personal life for women and how much of her family support system helped her through her inspiring career journey. She also underscored the role of effective communication in championing behavioural changes related to environmental and sanitation issues. Additionally, she called for startups in the sanitation and water sectors. To hear the full episode tune into: Naina Lal Kidwai: Empowering India's Past and Future 

Sponsored by Adfactors PR, ‘UNMUTE with PRCAI’ is the first-ever podcast series of the Public Relations Consultants Association of India (PRCAI). The collection consists of 10 inaugural episodes that would bring together business leaders and valued 'Opinions that Matter'. It is available on Spotify, Google Podcasts, Apple Podcasts, Anchor, Bingepods, and JioSaavn.