A First Bank Account
Lack of access to banking remains a major financial obstacle for low–income women in India. Indeed, when Marketplace began its financial literacy programs with artisans, none of the women had a bank account. Many did not have access to the necessary documents, others lacked the literacy skills to navigate the bank's application process. As a result, they told us, their cash earnings were rarely saved.
Sangeeta Gupta, an embroidery artisan at SMM Co–operative said, "Before, I did not think seriously about savings and its benefits, but as I heard and listened to everyone, my views changed," she says. "I thought it would be good to keep savings for any sudden happy or sad events. So now I have an account where we do all our daily expenses and another where I put away the extra earnings. My way of thinking and saving has changed."