Zomato and NSE Join Forces to Boost Financial Literacy Among Delivery Partners

In a significant move to enhance financial awareness within the gig economy, Zomato has joined hands with the National Stock Exchange (NSE) to roll out a dedicated financial literacy program for its delivery partners. With a target to reach 50,000 delivery partners across India, this initiative is a pioneering effort to educate gig workers on managing personal finances and securing financial stability.

Launch Event at Hyderabad’s Shilpakala Vedika Auditorium

The program’s official inauguration took place at Hyderabad’s Shilpakala Vedika Auditorium, where over 2,000 Zomato delivery partners attended the event, marking the start of this nationwide effort. In the coming year, the program aims to reach tens of thousands of Zomato’s workforce, offering structured workshops and financial guidance to help delivery partners make informed financial decisions.

Bridging Financial Literacy Gaps for Gig Workers

One of the primary objectives of this initiative is to address a significant gap in financial literacy within the gig workforce. Many delivery partners may lack adequate knowledge about personal finance, emergency savings, and essential financial tools. By offering this education, Zomato and NSE hope to empower delivery personnel, giving them the skills and knowledge needed to manage their finances effectively.

Workshops and Training Sessions on Personal Finance Management

The financial literacy program includes a series of workshops and training sessions designed to cover various aspects of personal finance. Topics include managing day-to-day expenses, preparing for unforeseen financial emergencies, and understanding long-term financial planning. Additionally, these sessions introduce delivery partners to various financial tools and resources that can support their journey toward financial independence.

Supporting Income Tax Filings Through the Zomato App

Earlier this year, Zomato introduced a feature in its app that allows delivery partners to file income tax returns, leading to over 85,000 filings for the fiscal year 2023-24. This feature has enabled Zomato’s delivery partners to collectively receive refunds exceeding ₹12 crore. The new financial literacy program complements this feature by encouraging better financial planning, with a focus on both immediate needs and future goals.

Statements from NSE and Zomato Leadership

Sriram Krishnan, Chief Business Development Officer at NSE, highlighted the significance of the program: “This partnership with Zomato is a significant step in expanding financial literacy within the gig workforce. By equipping delivery partners with financial skills, we aim to contribute to their financial independence and overall financial well-being.”

Rakesh Ranjan, CEO of Zomato’s Food Delivery division, echoed these sentiments, stating, “Through this collaboration, our goal is to raise the standards of financial literacy and overall well-being for delivery partners. Over 2,000 delivery partners have already taken the first step, and we’re looking forward to expanding this impact in the coming months.”

Zomato’s Additional Efforts: The "Food Rescue" Feature

In addition to the financial literacy drive, Zomato has recently introduced a new app feature called "Food Rescue." This feature allows users to purchase canceled orders at discounted rates, reducing food waste from customer cancellations. This initiative, announced by Zomato’s co-founder and CEO Deepinder Goyal, reflects the company’s commitment to sustainability by repurposing food that would otherwise go to waste.

Aiming for a Financially Secure Gig Workforce

With the combination of financial literacy workshops, tax-filing support, and innovative app features, Zomato is setting a new standard for supporting its gig workforce. By equipping its delivery partners with the financial tools they need to thrive, Zomato and NSE are paving the way for a financially stable and knowledgeable gig workforce, creating lasting impact in the gig economy.