Financial Express In this opinion piece, Prabhat has emphasised on the need to empower the end user by building their financial capability, taking into account their specific needs. Innovations in banking technology are triggered and sustained by supply-side considerations and do not adequately account for demand-side behaviours, especially preferences
September 14th, The Week While mobile and digital transactions can become an important catalyst in financial inclusion, the fact is that low income households are wary of trusting digital solutions because of the lack of ‘touch and feel’ experience. Because of lower financial awareness, only 12 per cent of the
September 13th , Mint Occupation profile is the prime factor that drives the need and preference for banking in low-income households, said a report by Grameen Foundation and JPMorgan. The preference for banking was influenced by factors such as prioritizing liquidity over depositing savings in a bank account.“Any supply-side intervention must
13th September, IANS Women are more likely to own a bank account or engage with formal banking institutions compared to men, according to a study released on Wednesday on the extent of low bank account use among low income segmentser households in India despite new policies that encourage account opening.
September 13th, The Economic Times, When it comes to engaging with the formal banking system, nearly 50 per cent of the women preferred depositing money in formal banks and almost 72 per cent in rural banking institutions, said a survey. The findings showed that occupation is the single- largest determinant
The banking and financial services sector in India has been undergoing a two-fold supply-side transformation: a thrust on opening of bank accounts alongside Aadhar and Mobile linkage, and the accelerated integration of digital solutions within the core banking processes. The policy initiatives around opening of bank accounts have remarkably reduced
NEW DELHI, September 13, 2017–A new report released today by Grameen Foundation India, J.P. Morgan, and the Institute of Rural Management Anand, provides key insights into the extent and reasons for low bank account usage among low-income households in India, despite new government policies that encourage the opening of accounts.
Prabhat Labh meeting with clients of Sonata Finance in Uttar Pradesh. (Photo courtesy: Grameen Foundation India) Digital technology can transform India if we harness the insights and earn the trust of communities to develop solutions that build their capabilities and empower them, writes Prabhat Labh, CEO of Grameen Foundation India. On a
How an MFI-Fintech collaboration is transforming the lives of low income segments rural women Gopika Gulati is Communications Manager at Grameen Foundation India, and Gaurav Chakraverty is Associate Director, Innovations in Digital Finance at Grameen Foundation India. On the outskirts of Allahabad, India, low income segments, rural women are changing attitudes in