Resource

Women-Friendly Micro-Savings Products

Microfinance is recognized as a promising and cost-effective tool in the fight against global poverty, with Grameen Bank’s work serving as a strong example. In developing countries like India, microfinance promotes micro-entrepreneurship and women’s empowerment through the Self-Help Group model. Although the Financial Inclusion Index shows an increase in financial inclusion in India, women remain the most financially excluded and underserved population due to various social, cultural, and systemic barriers.

Business Correspondent (BC) agents help address these gaps by delivering banking and financial services to the underserved, including women. Female BC agents have been found to serve a higher proportion of women customers, thus promoting financial inclusion. Grameen Foundation India in partnership with the Bill and Melinda Gates Foundation is trying to increase the viability of BC agent networks and focuses on gender mainstreaming, partnering with banks and other financial institutions to offer micro-saving credit leveraged products specifically for women customers.