How a 17-Year-Old Entrepreneur is Bridging Financial Gaps for the Underprivileged

Sakina is a housemaid who moved to Delhi from Jharkhand for the sake of living. Pay in her first employment as a stall worker was meager. Within no time, she got a job as a housemaid, earning Rs 1,500 for every house every month. Despite that, she could send money home and pay for the expenses but couldn\'t lay aside anything.

She finally ran into an enlightenment session by Invest The Change, a foundation initiated by 17-year-old Kashvi Jindal. In that meeting, she realized the Pradhan Mantri Suraksha Bima Yojana (PMSBY) is a scheme for cover in the event of death or disability caused by accidents.

Invest the Change focuses on government health, accident, and life insurance schemes. The Gurugram-based organization extends comprehensive support, from raising awareness about government schemes to helping individuals in the application process and teaching them about financial literacy.

According to Jindal, she has always wanted to know more about the finance markets since he commenced running a hedge fund fifteen years ago.

By the 10th standard, she realized that she would like to pursue a career in finance. She was also interested in economics, which later became her favorite school subject. A 31-year-old housekeeper’s death in his apartment society prompted the push to help the underprivileged. His family suffered because he provided for his family alone.

Jindal and other social workers discussed financial issues and discovered that more info should be considered on finances and the economy.

She realized that most people have yet to learn of any such scheme introduced by the government. As per a survey by the National Survey Office (NSO) of the Ministry of Statistics and Programme Implementation, only around one-fourth of the poorest fifth of rural Indians had private or public insurance (10.2%). Such leaves many people vulnerable to health financial shocks.

Other studies suggest the situation is similar for other types of insurance policies. Jindal recalls several families had to dip into savings amid the COVID-19 pandemic. Many families lacked life or health insurance schemes, leaving them vulnerable during these challenging times.

This realization led Jindal to start ‘Invest The Change’ in 2021 to create awareness about government schemes that could offer a cushion to fall back on in times of financial distress.

The organization follows a three-step approach. First, it develops the content for seminars. Jindal says that though the focus is more on health and life insurance schemes, the organization also covers schemes such as Atal Pension Yojana.

During the initial session, Jindal explained the diverse range of available schemes and their benefits. However, further sessions also provide hands-on support to those encountering difficulties filling out forms online.

Finally, the team contacts the respondents to ascertain whether they received the desired outcomes. The team points out viable alternatives for a failed application in case of failure. A group of fifteen people volunteering for Jindal are responsible for running the sessions and doing the follow-ups (Invest the Change). She has assisted more than three thousand blue-collar constituents, such as bus drivers and wage earners, in accessing qualifying state programs. They have had about 30 sessions at this point.

Jindal began hosting sessions in her neighborhood, schools, and restaurants. She also collaborated with the Rotary Skill Development Centre to provide a session on fundamental financial principles and government insurance programs. According to Jindal, a schedule for these sessions has yet to be set. She organizes these workshops by contacting schools and communities wherever she appears.

Invest The Change has impacted many people. One of them is Prakash Mandal, an office boy in Gurugram who was going through a challenging financial phase during the pandemic. Jindal’s organization taught him about government policies that could help him. 

He had yet to learn of the schemes. After attending, he was skeptical about the schemes as benefits were offered at a minimal cost. However, after doing extensive internet research, he decided to enlist.

Every trip milestone and Jindal’s trip was no exception. The main problem with her communication is that she mainly speaks Hindi and English; therefore, she has difficulty conveying her messages due to various workers being unable to understand the two languages.

Moreover, she revealed most people were wary of giving out personal details to her. Also, on top of this, she admits it was another issue because most people were expected to take her seriously based on her age.

Nevertheless, Jindal says her father has been her ardent supporter throughout this journey. He has consistently been her biggest cheerleader, from helping create presentation materials to sorting out logistical details for the company and providing motivation during challenging moments.

Talking of challenges, she also shared that since she is a student, managing her studies and organization work becomes challenging at times. But she adds that one must prioritize one\'s goals to achieve anything.

Invest The Change has created a significant positive impact by increasing awareness and access to government schemes for underprivileged communities across India. The organization helped Sakina, a house help, gain knowledge about the Pradhan Mantri Suraksha Bima Yojana, which provides affordable accident insurance. With guidance from Kashvi\'s team, Sakina successfully enrolled in the program and gained financial security.

Additionally, over 3,000 blue-collar workers, from bus drivers to wage workers, have enrolled in critical government schemes, including health, life, and accident insurance, through the awareness sessions and application assistance provided by Invest The Change. By facilitating enrollment, the organization has given these underprivileged workers and their families a safety net to rely on in medical or financial distress.

Further reaching its impact, Invest The Change partnered with the Rotary Skill Development Centre to host workshops educating people on financial concepts, money management, and relevant government schemes open to them. Equipping people with financial literacy skills and scheme awareness empowers them to make wise decisions for their future financial health.

On an individual level, Prakash Mandal, an office boy struggling financially during the pandemic, learned about insurance schemes he was unaware of. Guidance from Kashvi\'s organization helped Prakash successfully enroll in two policies at affordable premiums, giving him assurance and security for life\'s uncertainties.

With ambitious plans to continue growing its outreach, Invest The Change aims to scale up operations to serve many more in need across India. Its upcoming eligibility app will simplify identifying and availing the optimal schemes for each person\'s situation.