India’s blanket approach to financial inclusion is leaving women behind: Here are four ways to close the gender gap
India has been at the forefront of digital innovations in financial services, helping millions participate in the financial economy through their mobile phones. However, this progress and innovation are meaningless for the millions of Indian women who remain excluded from basic banking in the first place. The strategies we have discussed in this blog directly impact women’s financial inclusion.
In 2021, MSC focused on sectors like MSME, agriculture, microfinance, gender, youth, climate change, and digital finance. We took a deep look into measures to minimize the pandemic’s impact on the LMI segments. Here is a roundup of our most-read blogs in 2021.
ChitMonks: Giving India’s oldest form of banking a new look
This blog is a sequel to our previous blog on ChitMonks under the Financial Inclusion Lab accelerator program. Chit funds are an old and essential financial service in India, which remains mainly in the analog mode. ChitMonks are working to digitalize the industry. In this blog, we take you through ChitMonks’ journey, the startup’s progress since the second cohort of the FILab, its struggles and achievements, and its plans.
Lakshya: Helping the urban poor save to improve their financial health
Lakshya is a digital savings platform that provides access to formal savings and insurance to low- and middle-income (LMI) segments in India. It promotes the uptake of formal financial services and financial health within the community. This blog explores the journey of Lakshya and the positive impact it hopes to create within LMI segments.
This video highlights developments in the tech space led by enablers and the role of start-ups under the Financial Inclusion Lab accelerator program in democratizing financial technology. The Lab is a part of CIIE.CO’s Bharat Inclusion Initiative and receives support from some of the largest philanthropic organizations across the world. These include the Bill & Melinda Gates Foundation, J.P. Morgan, Michael & Susan Dell Foundation, MetLife Foundation, and the Omidyar Network.