Final Report/Synopsis of Research Results:

This study contributes to research on informal financial networks known as Beesi among poor skilled Zardozi (embroidery) workers in Lucknow. Beesi are a kind of rotating savings and credit association. Each member contributes a weekly or monthly sum and the pot is given to a member selected randomly by lottery. In these Beesi networks, members can transfer their right to the funds to another person in the network. The study also documents other money management practices, and provides quantitative data on food, medical and educational expenses for a population experiencing poverty, large income fluctuations and ethno-religious segregation.