Banking in India
Mar 14 2014

Banking for success

For many living in poverty in places like India’s Rasoolpura slum, thoughts of saving money and having a bank account are distant dreams. Many have never even stepped foot inside a bank.

In India, Unbound sets up individual bank accounts for sponsored children and youth in which funds sent by sponsors are deposited. For children who are underage, the mothers manage the bank accounts. The mothers work with each other and the Unbound staff to make budgets and plan how the funds will be used for their children’s best interests.

Having a bank account is an empowering, uplifting experience for the mothers.

Read more about their experience here.

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One thought on “Banking for success”

  1. It’s good because it creates a more democratic aspect of official leadership in the program.This will also allow purposive use of finance and release social workers from task of complicated finance files, which requires specialists in that area of money.The bank also allows beneficiaries to be familiar with some bank transactions for future reference when they get employed after studies.

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