Financial Inclusion White Paper - NCR

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2.1 Rural/Urban Divide Chart 2.a: Rural Urban Divide Population Employment Contribution to GDP Government Revenue 2.1.1 Urban India Rural Urban Rural Urban Rural Urban Rural Urban 770 million 330 million 65% (agriculture) 35% 33% 66% 10% 90% Source: World Bank Report, Frost & Sullivan Research World Bank data shows that a third of India’s populace lives in towns and cities and generates about 90 percent of the government’s revenues and two-thirds of GDP. Migration from rural to urban India stands at 30 percent. In India, a quarter of the urban population lives in slums. In Mumbai, that figure rises to half of its 13.6 million people. It is not surprising that the highest concentrations of un-banked populations in urban areas are found in slums 6 . According to United Nation’s statistics division, 55.5 percent of country’s population in 2001 was living in slums. At present, migrant unskilled labour forms the biggest fraction of the urban slum population. Poor infrastructure, absence of financial network for urban poor, absence of credit rating and financial history and absence of financial knowledge deprives slum-dwellers of formal sources of credit. 6 Slum: A group of individuals living under the same roof that lack one or more of the following conditions: access to safe water; access to sanitation; secure tenure; durability of housing; and sufficient living are (Source: United Nations) 11
Case Study 2S1: Swadhaar Microfinance institution in the urban slums of Mumbai About half of Mumbai’s residents live in slums without basic amenities such as clean water or indoor plumbing. The urban poor have always been neglected or underserved and the Slum areas in Mumbai being the most difficult to tackle in terms of poverty. Swadhaar, a non-profit organization, assists the poor in Mumbai slums to break out of poverty through access to financial services. Founded in 2006, Swadhaar currently serves over 2,500 individuals, providing an average loan of US$85 and achieving a high repayment record. It has a target of reaching 195,000 clients by 2011 in strategic partnership with Unitus and with microfinance expertise from ACCION. Swadhaar has been successful in implementing several financial service projects for the urban poor. It has a strong management information system and is investing in building technology and professional expertise to make the institution a success. Busy street in Dharavi, Mumbai Slums 12
Page 1 and 2: Do you want to implement a scalable
Page 3 and 4: Acknowledgement Frost & Sullivan is
Page 5 and 6: Table of Contents 1. Introduction t
Page 7 and 8: 1. Introduction to Financial Inclus
Page 9 and 10: Brazil Brazil’s government has ur
Page 11: 2. India’s Socio-Economic Landsca
Page 15 and 16: Chart 2.b: India’s Regional Split
Page 17 and 18: 2.3 Underbanked bankable population
Page 19 and 20: 4. Financial Inclusion Lifecycle Th
Page 21 and 22: 5. A Feasible Solution for Financia
Page 23 and 24: 5.1.3 Kisan Credit Cards (KCC) The
Page 25 and 26: 5.2 Technology Solutions Technology
Page 27 and 28: Self-service technologies offer pro
Page 29 and 30: Case Study 5S1: M-PESA, Kenya Provi
Page 31 and 32: a customer through the entire trans
Page 33 and 34: 2) Audio-Video lead through Use of
Page 35 and 36: 5.3 Multi Channel Delivery Models 5
Page 37 and 38: 5.3.2 Independent and Shared Access
Page 39 and 40: Case Study 5S4: Mzansi, South Afric
Page 41 and 42: 6. Conclusions India is a country o
Page 43 and 44: Measurement System Appendix A criti
Page 45 and 46: Policy Template Nature Impact Time
Page 47 and 48: 2.2 Measuring the impact of Micro D

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