Sakina’s Journey to Financial Security
Sakina, originally from Jharkhand, migrated to Delhi seeking better employment opportunities. Initially, she worked at a stall with minimal earnings but eventually found a job as a domestic worker, earning Rs 1,500 per household each month. Despite the improved income, her financial obligations and the need to send money back home left her with no savings.
She expressed her concern, “I started worrying about how my family would survive if something happened to me.”
Transformative Educational Session by Invest The Change
Sakina’s fortunes changed when she attended an educational session organized by Invest The Change, a social initiative founded by 17-year-old Kashvi Jindal. During this session, she learned about the Pradhan Mantri Suraksha Bima Yojana (PMSBY), which offers coverage for accidental death or disability for an annual fee of just Rs 20, a sum she found manageable. With the assistance of Jindal’s team, Sakina was able to open a bank account and enroll in the scheme, securing financial protection for her family.
“The session was extremely helpful,” Sakina shared with SocialStory. “Enrolling in the scheme assured me that my family would be financially secure even if I am not around.”
The Mission of Invest The Change
Invest The Change focuses on raising awareness about government programs related to health, accident, and life insurance. This Gurugram-based organization not only educates individuals about these schemes but also assists them in the application process and provides financial education. Inspired by her father’s work in the financial sector, Jindal developed a keen interest in financial markets, which fueled her desire to help others navigate these complex areas.
Jindal noted, “Many government schemes, like the Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyoti Bima Yojana, offer crucial protection during hardships.”
Launching a Movement
The COVID-19 pandemic highlighted the vulnerability of families without insurance, prompting Jindal to launch Invest The Change in 2021. Her initial session received a positive response, with around 50 workers actively participating and later seeking assistance in applying for specific schemes. The organization set up kiosks to facilitate the form-filling process, ensuring more people could benefit from government programs.
Jindal explained the organization’s three-step approach: developing seminar content, focusing on health and life insurance schemes like Atal Pension Yojana, and offering hands-on assistance for applying online. She initiated sessions in local communities, schools, and eateries, collaborating with the Rotary Skill Development Centre for workshops on basic financial principles and government insurance programs.
Overcoming Challenges
Jindal faced several obstacles, including language barriers, as many workers were not fluent in Hindi or English. To address this, she recruited volunteers fluent in regional languages. Building trust among participants was another challenge, as many were skeptical about sharing personal information. By fostering personal connections during physical sessions, Jindal and her team worked to overcome this mistrust.
Balancing her studies with her responsibilities at Invest The Change has been demanding, but Jindal emphasizes the importance of prioritizing goals to achieve success. “People fear deception, so they do not trust easily,” she said. “Building trust within the group has been a challenging task, but during physical sessions, we tried to build a connection to fight that mistrust.”
Conclusion: A Bright Future Ahead
Despite the challenges, Jindal’s dedication to improving financial literacy and security for underprivileged communities is making a significant impact. Her proactive engagement with various communities and continuous efforts to educate and assist individuals in navigating government schemes exemplify her commitment to fostering financial independence. Through Invest The Change, Jindal is not only transforming lives but also paving the way for a more financially secure future for many.