Photo by Tukaram Karve on Shutterstock   In our previous post, we highlight the role of technology (and mobile phone/smartphone based solutions in particular) in overcoming the information asymmetries that persist in agriculture in India, especially among small and marginal farmers. The opportunity afforded by smartphone based solutions to providing digital financial solutions in combination with improved… Continue reading Lessons from the Field: Usability of Digital Financial Services

Photo by Marekuliasz on Shutterstock.   Introduction   Academic papers and research reports often show us fascinating results. But they often present data without going into much detail of how it was collected. Such papers and reports make the research process and fieldwork seem controllable and straightforward. However, the reality is often quite the opposite. The process… Continue reading The many challenges of doing research in the field

Why we invested in Kaleidofin     Puneet and Sucharita have been a part of the founding team at IFMR. They have a deep understanding of what it takes to deliver financial services to the poor. This comes from the research and the work that they have done in this sector. I have benefitted from… Continue reading Personalised Financial Solutions for the Underserved

Photo by O’SHI on Shutterstock.   In the last blog, we discussed about the need to understand financial lives of urban poor from their standpoint before devising financial products, services or tools for them. In this blog we’ll discuss some of the cash management strategies generally used by low-income households (LIHs).   Cash inflow management strategies of low-income households.… Continue reading Cash Management or Managing Cash?

Customer service and grievance management are critical challenges to the financial inclusion effort in India. As such, customer service and grievance management are key determinants of any bank’s relationship with their customers. Positive experiences of service and grievance redressal encourage customers to trust banking service providers and thereby, inspire loyalty.   However, in the Indian… Continue reading Empowerment through Experience

  Wealth Management. The very term conjures up images of High Net-worth Individuals (HNIs), big banks, and sophisticated financial advisors. Categorically speaking though, wealth management is just a way of allocating finances to maintain liquidity on one hand and to invest for growth on the other. The fundamental principles of wealth management have nothing to… Continue reading A quick introduction to micro-wealth management using IndiaStack

Photo by India Picture on Shutterstock   That Indian households invest largely in physical assets is well known. What is not well understood is why this might be so. The reluctance in engaging with formal financial markets in India may have its roots in lack of trust, financial illiteracy, and access to resources that make it easy for… Continue reading Reducing financial skill asymmetry between distributors and retail investors

  Over the last decade, financial inclusion — access to and use of formal financial services — of the underserved and excluded populations has become a priority goal of National Governments as well as International Organizations. Transaction accounts (such as bank account, mobile wallet, payment card, or similar electronic instruments) that allow individuals to store… Continue reading Digitizing Payments in India: Inducing Behavioral Change Through Peer Comparison

Image Credit: Shutterstock   Self Help Groups (SHGs) are the foundation of Indian microfinance, and are a particularly Indian concept. They are different from the Joint Liability Groups (JLGs) through which Micro Finance Institutions (MFIs) provide loan funds to women. SHGs encourage savings, opening of bank accounts, inter-loaning among members, and most importantly, members of SHGs… Continue reading Supporting Women Self-Help Group Federations