Women and financial inclusion

Posted on March 11, 2013 by Sumita Kale

A post by Shweta Banerjee on the CGAP blog describes her experiences during a visit to Pilkhi, a village in BiharMost transactions at the village CSP counter, run by SBI, are by women withdrawing remittances from male family members in the citiesThe trust levels in keeping the money in the bank account are low and cash is still preferred.

She also talks of the experiences of women receiving old age pensions from the government, the time and effort it takes to access the post office, the frustration of finding out the money has not been credited etcThese women would benefit a lot if the pensions were disbursed at the kiosk, at a higher frequency than the current half-yearly scheme.

As reported by her, the GSMA report on Women and Mobile Financial Services in Emerging Markets points out that women can drive rapid adoption of financial servicesBut for this it is vital to win and retain their trustUnfortunately, little has been done to understand the needs of women, their financial lives...and there are huge rewards for financial inclusion once that happens!


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