The Need

• Rural India contributes to 50% of GDP, yet only 21% have access to credit from a formal source
• Nearly 60 % of rural households do not possess bank accounts
• Of the 600,000 villages in India, only 9,000 have more than one bank branch

Our Solution

• Facilitate access to basic no frills bank accounts, design specific savings products suited to accommodate the cash flow patterns of rural households and establish money transfer facilities

Impact

• Significant number of rural citizens have embraced the formal financial net
• Encouraged the rural citizen to source loans from banks in lieu of informal lenders

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