Institute for Money, Technology & Financial Inclusion

We conducted an experiment in Bihar, eastern state of India, with 203 women who were associated with Self Help Groups (SHGs). We attempted to understand if context-specific Financial Education (FE) helps women pay attention to their savings needs. We also provided an alternate savings tool- a lock box with a key- to understand if the savings products could improve their savings capability.

We provided 40 women with financial education training; 40 women with a lockbox and a key; 43 women with a lockbox and a key as well as financial education; and 80 women received no intervention.