Ms. Kashvi Jindal, Founder, Invest The Change
According to the Multidimensional Poverty Index Report 2022, approximately 228.9 million people in the country are still living in abject poverty conditions. There are a variety of financial instruments that are available for the help of these poverty stricken families, but they are unaware of these government schemes.
Understanding of such financial instruments can empower the underprivileged individuals to escape the cycle of poverty by making sound financial decisions. It enables them to save, invest, and plan for the future, which can lead to increased financial stability.
Though the financial awareness figures look grim, there exists a beacon of hope, a young and determined fempreneur, Kashvi Jindal. Her story is one of an unwavering determination to turn her fascination into a force for good.
Ever since she was a child, the world of finance has captivated Kashvi Jindal. Growing up with a father who founded a hedge fund, she was exposed to countless discussions about business and market trends. Even as a child, she could be found eagerly asking questions about finance, despite not fully grasping the concepts.
This early fascination with finance became the guiding star that led Kashvi to enroll in an AP Micro and Macroeconomics course during her 10th grade.
As Kashvi’s interest in money management grew, she began engaging in conversations about financial matters with people from various walks of life and household staff like housemaids and cleaning workers at her school.
Through these conversations, Kashvi became acutely aware of a pressing societal issue – the lack of accessible information about finance and the economy. It was during these exchanges that her passion to make a positive impact was ignited.
This spark of inspiration led Kashvi to launch ‘Invest The Change’ at the tender age of 16. This platform aimed to provide individuals with a fundamental understanding of saving and investing. But as the initial sessions began, it became clear that the concepts of savings and investment were not directly relevant to those in lower-income classes who were struggling to meet their basic needs.
This led Kashvi to realize that something needs to be done to alleviate the financial distress these individuals faced during challenging situations like medical emergencies, accidents, or the death of a family member.
She went on to research extensively and discovered various government schemes that could offer significant support. However, the lack of awareness about these schemes was hindering their effectiveness.
This realization prompted a significant shift in Kashvi’s focus. Her mission transitioned from financial education to bridging the gap between the less fortunate and government welfare schemes. Kashvi was now dedicated to raising awareness and ensuring that those in need could access the assistance available to them.
Her aim was clear – to establish connections between marginalized communities and government initiatives, empowering individuals and enabling them to lead more financially secure lives.
In retrospect, Kashvi’s journey as a young fempreneur and social innovator has been nothing short of a profound learning experience. Through her project, she has achieved a significant milestone by enrolling over 3000 domestic workers, drivers, and other individuals, making it easier for them to access the benefits offered by government schemes and programs such as Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY).
Her efforts have resulted in assisting them in receiving benefits worth Rs. 20 Cr so far. This has shown Kashvi the importance of not just listening but also understanding and, most importantly, taking action.
Kashvi’s chosen path is not without its challenges. It requires continuous learning, adaptation, and a deep commitment to the cause. But the impact she has achieved so far serves as a powerful testament to the potential for transformation when people come together with a shared goal.
Looking ahead, Kashvi envisions an even greater impact for Invest The Change. She is working on establishing a network of dedicated volunteers who will act as ambassadors for the project, spreading awareness and knowledge within their communities.
Simultaneously, the organization is developing an app that will provide comprehensive scheme information and eligibility checks. This technological step is set to enable Invest The Change to engage with economically disadvantaged populations on a larger scale.
Kashvi says that her journey is just beginning, and she is excited about the possibilities that lie ahead. According to the latest Periodic labor force Survey (PLFS) conducted by the Government of India which was published in June 2022, the unemployment rate among the youth (15-29 years) was estimated to be around 23.7%.
As she moves forward, Kashvi is determined to bring this number down and create a brighter and more financially secure future for marginalized communities.
Financial literacy is often a priviledge to many, but Kashvi Jindal’s journey is illuminated by the mission to empower those who often exist in its shadow. She stands a testament to the power of empathy and action.
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