Articles by Aishwarya Lakshmi Ratan
An opened bank account in and of itself means very little, and a sitting balance in a bank account is literally a waste of money. What does have meaning is what accumulated savings let a consumer buy or borrow at a lower cost at the right time, without having to beg, borrow (at high cost) or steal. And when that asset grows in a meaningful way, then we have something to write home about: development and wealth accumulation in action.
In June 2012, the Global Financial Inclusion Initiative at IPA launched the Citi IPA Financial Capability Research Fund, a program supported by the Citi Foundation to incubate and rigorously study products and product-linked interventions to improve the financial capability of the poor. Our next matchmaking program will take place on May 29-30 in Lima, Peru.
Moving Beyond Access for Meaningful Financial Inclusion: Targeting investments to improve financial capability
Who are the relevant stakeholders to help bridge this financial capability gap? We are looking to explore these and related questions through 10 or more new research projects that we initiate at Innovations for Poverty Action (IPA) over the next two years, with support from the Citi Foundation.