IFC champions microsavings offerings
As more Indian banks look to expand their services to the growing middle class and the increasing number of high net worth individuals, the World Bank’s investment arm, International Finance Corporation (IFC), has made a case for microsavings in a new report that highlights the importance of microsavings for the poor, as well as the sophistication of the financial services market as a whole.
The Deposit Assessment in India notes that microsavings are critical to improving access to basic financial services. The report estimates that 2.7 billion people cannot access services such as savings...
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