Chetna Gala Sinha, a renowned social entrepreneur, microfinance banker, and activist, has been a driving force in empowering rural women through financial independence. As the Founder and Chairperson of Mann Deshi Bank and Mann Deshi Foundation, she has dedicated her life to creating financial opportunities for women in underserved communities.
A Journey Rooted in Rural Empowerment
Sinha’s journey began in 1981 when she was a student at Bombay University. Inspired by activist Jayaprakash Narayan’s call for young people to work in rural India, she moved to Mhaswad, a drought-prone region in Maharashtra. There, she witnessed the struggles of rural women, who worked tirelessly under the harsh sun yet lacked access to financial resources and opportunities.
Overcoming Barriers to Establish India’s First Women-Led Rural Bank
Determined to bring change, Sinha sought to establish a bank that would cater specifically to illiterate rural women. In 1996, she faced a major setback when the Reserve Bank of India (RBI) rejected her application, citing concerns about the women’s inability to manage financial transactions. Instead of giving up, she turned this challenge into an opportunity. She initiated literacy programs to teach the women basic banking skills, empowering them to handle financial matters independently.
Five months later, equipped with their new knowledge and confidence, the women reapplied for the bank license. Their persistence paid off, and in 1997, Mann Deshi Mahila Sahakari Bank was born—the first rural bank in India run entirely by and for women. The bank operates on principles of inclusivity and empowerment, allowing women to save, invest, and access credit without traditional financial barriers.
Impact and Expansion
Since its inception, Mann Deshi Bank and Foundation have transformed the lives of over one million women. Beyond banking services, the foundation offers business education, digital literacy, and entrepreneurship training, helping women scale their businesses and gain financial independence.
Sinha’s work has demonstrated that financial empowerment is a powerful tool for social change. Her journey highlights how courage, determination, and a vision for inclusivity can dismantle systemic barriers, creating a more equitable future for rural women. Through Mann Deshi, she continues to inspire and enable women to take charge of their economic destinies, proving that courage is indeed capital.
