Our innovation lab activities explore the financial inclusion challenges faced by informal contractual workers, including gig workers, construction labourers, domestic help, and other daily-wage earners. Despite contributing significantly to the economy, many remain excluded from formal banking systems and struggle to access affordable credit. Through grassroots-level research and community engagement via focus group discussions (FGDs), we aim to understand the structural, social, and documentation barriers that limit their financial access. The study seeks to identify practical, scalable solutions that can improve credit accessibility, financial literacy, and long-term economic stability for these vulnerable worker groups.
As part of the Lab activity, we visited Dhyeypurti Sahakari Patpedhi Maryadit, located in Kanjurmarg West. Patpedhis are cooperative credit societies primarily found in Maharashtra, India, providing loans to members for personal, business, or emergency needs at lower interest rates than banks. During the visit, we interacted with staff members, including the manager and treasurer, gaining insights into how these institutions promote financial inclusion for underbanked individuals, especially in the informal sector.
