Scope of mobile banking services: women’s Papad-Making Enterprise in urban-slum of Dharavi

Scope of mobile banking services: women’s Papad-Making Enterprise in urban-slum of Dharavi

Lijjat Papad Company is an institution that is registered as a cooperative society of women in Dharavi (India), promoting home-based employment for women. The company facilitates the opening of a basic savings account hosted by Bank of Baroda to pay its workers’ wages.

Nevertheless, despite the availability of bank accounts, worker women prefer using risky mechanisms such as hiding money or using informal chit-funds to save their income. Consequently, the author suggests that if such women are targeted with proper strategies, take-up of the mobile banking can be increased in Dharavi.

Recommendations include:

  • institute a gender-sensitive approach in banking services; increase the number of women staff within the banks, provide the staff with gender knowledge and awareness, and deliver gender-sensitive products that attract women clients
  • cater to context-specific needs of the women clients: by opening the banks later, and by creating separate service stations for women, banks will be perceived as more accommodating of the needs of the women clients
  • provide financial literacy trainings for women: this is crucial to improve the awareness levels about financial products and services available via formal financial institutions
  • use innovative technology to improve take-up of banking services: basic financial products must have add-on features such as reminders
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