150 Million Bank Accounts - Is That Enough?
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India's Prime Minister Narendra Modi recently announced an ambitious plan to expand financial inclusion by making bank accounts available to every Indian family. In the popular Indian business newspaper Mint, Ruchira Bhattamishra makes the case for creating financial products that are informed by research in behavioral economics, such as commitment savings products. She cites IPA research on commitment savings products in the Philippines, savings for health care in Kenya, and a range of savings studies in Malawi.
On the blog, we add some thoughts about the op-ed. This post was cross-posted on Next Billion, and featured in the Center for Global Development's "What We're Reading" newsletter.
August 25, 2014