GEOGRAPHY : Maharashtra
ESTABLISHED : November 2019
The Digital Delivery of Financial Services Project, incubated in collaboration with Dvara Trust and Youth for Voluntary Action (YUVA), aims to improve the financial habits of migrants in the construction sector by piloting the use of a savings and investment mobile application developed by Dvara Trust. The project also studies the relationship between financial inclusion, access to financial services at destination, and integration of migrants.
Internal migration in India occurs at an unprecedented rate (450 million, Census 2011) but simultaneously makes out-of-state migrants vulnerable in ways that locals are not. This vulnerability manifests in access to health, social security, education, and even identity. Many, especially in the informal sector, are often paid in cash, making financial management and investment more difficult. This project aims to track and improve migrants' financial management and encourage habits of saving and investment.
In collaboration with YUVA and Dvara Trust, IMN will be piloting the Dvara Money mobile application across a selected number of construction sites in Mumbai and Thane, Maharashtra. The participants will be identified on the basis of a number of parameters including migrant status, occupation, income level, and digital literacy. The project will also analyse the relationship that access to financial services has with better integration in destination areas.
Digital Financial Services Pilot Questionnaire: Project Team, December 2019