The State Bank of India (SBI), the country’s largest public sector bank, has announced its partnership with Jagriti Yatra 2024, a pioneering initiative aimed at nurturing the entrepreneurial spirit among young Indians. The collaboration will see 500 youth from Tier 2 and Tier 3 cities embark on an 8,000-km, 15-day journey across the country, where they will have the opportunity to connect with successful entrepreneurs, receive mentorship, and gain first-hand experience in building businesses.
Jagriti Yatra, a well-known program that has been instrumental in shaping India’s entrepreneurial landscape, is designed to help young people explore the practical aspects of starting and scaling businesses. In 2024, the Yatra will take participants on a route that spans the length and breadth of India, introducing them to a diverse range of industries, from tech start-ups to social enterprises.
This partnership comes at a time when there is a growing focus on entrepreneurship as a key driver of economic development in India. As part of its commitment to empowering the nation’s youth, SBI aims to provide critical financial support and mentorship to these aspiring entrepreneurs, who are expected to play a crucial role in India’s push toward becoming a ‘Viksit Bharat’ (Developed India) by 2047.
A Step Toward Empowering Rural Entrepreneurs
For SBI, the partnership with Jagriti Yatra is just the latest initiative in its long-standing efforts to encourage entrepreneurship, particularly in rural India. Over the years, the bank has made significant investments in rural development and skill-building programs, with a particular focus on women and underserved communities.
SBI’s Rural Self Employment Training Institutes (RSETIs) have trained over 11.5 lakh individuals, with nearly three-quarters of them establishing their own businesses. Through these initiatives, SBI aims to create an ecosystem where rural youth can find opportunities to build sustainable livelihoods without having to migrate to urban centers.
In addition, the bank has a strong presence in microfinance, having disbursed over ₹49,000 crore in Mudra loans and ₹1,550 crore under the PM SVANidhi scheme for street vendors in the past fiscal year alone. These efforts, SBI believes, are key to unlocking the potential of India’s large, untapped rural market.
SBI’s Broader Role in Economic Empowerment
The partnership with Jagriti Yatra underscores SBI’s strategic push to align its corporate social responsibility efforts with the national goal of economic empowerment and self-reliance. By partnering with Jagriti Yatra, SBI hopes to create a new generation of entrepreneurs who can drive innovation, create jobs, and contribute to sustainable economic growth across the country.
In a recent statement, SBI’s Managing Director, Shri Rana Ashutosh Kumar Singh, highlighted the importance of entrepreneurship in India’s economic transformation. “At SBI, we believe that entrepreneurship is the cornerstone of a self-reliant and progressive India. As we work towards the vision of a Viksit Bharat by 2047, it is essential to empower young entrepreneurs with the skills, resources, and opportunities they need to drive innovation and growth across the nation,” he said.
The partnership with Jagriti Yatra is seen as an extension of SBI’s broader efforts to integrate financial inclusion and skill development into the Indian economy. By helping young entrepreneurs gain access to mentorship, resources, and funding, SBI hopes to catalyze the growth of micro, small, and medium enterprises (MSMEs) — which are vital to India’s economic future.
A Vision for the Future
As India works toward its ambitious goal of becoming a developed nation by 2047, initiatives like the Jagriti Yatra in partnership with SBI are expected to play a pivotal role in shaping the country’s economic landscape. By empowering youth, particularly in underdeveloped regions, with the tools to succeed in business, SBI and Jagriti Yatra are laying the foundation for a more inclusive, self-sustaining economy that can contribute to India’s long-term prosperity.
With both private and public sector organizations placing greater emphasis on entrepreneurship as a driver of change, partnerships like these are likely to set the stage for a new wave of innovation and economic growth in the coming years.
