To address the thirteen percent gap in financial savings (as per Findex Data, 2021) between men and women, this project was initiated to create scalable, women-centric digital products and services that enable frictionless micro-savings for women at a location convenient to them. Many women across India, continue to save money in cash, using Gullaks (traditional clay piggy banks) or other means, in the safety of their own homes. Our goal through this project is to provide them with digital alternatives that are both convenient and secure, empowering them to save their own money more efficiently and effectively.

Based on comprehensive qualitative user research across urban and rural India, financial diary analyses and expert consultations, RBIH has conceptualised, designed and rolled out different versions of flexible Recurring Deposit products specifically tailored towards rural women in the last mile, including dairy farmers. To ensure women centricity in design, RBIH is collaborating with a variety of stakeholders namely – Banks, Corporate BCs, Fintechs and Behavioral Science specialists. These pilots aim to facilitate regular savings, mirroring the ease and familiarity of traditional savin methods while offering the additional benefits of safe and secure digital banking.