The Human Account is led, created and developed by Dalberg with Rockefeller Philanthropy Advisors, and funded by the Bill & Melinda Gates Foundation.

 

Local partners are Lagos Business School in Nigeria, Ashoka University in India, not-for-profit development finance company, Karandaaz in Pakistan, and research and advisory firm, Busara Center for Behavioral Economics in Kenya.

Independents

16% of India | 192 million people

optimistic, open, entrepreneurial

Click below to learn more:

Watch Laxmi's

Short Documentary

LAXMI'S STORY

Meet Laxmi

 

“I like making things, I like selling them; and when I make a profit, I like that too.”

27 year old Laxmi lives with her husband and three children in a village in Muzaffarpur. Laxmi works as a teacher in a private school in the village and earns ₹ 1500 per month. Her husband works as a daily wage mechanic and her three children attend both the private and public school so they can avail the government scholarships. She plans the household expenses and recently purchased a wooden bed through a group loan made so that her family can sleep more comfortably. Laxmi’s biggest goals are education for her children and a comfortable life for her family. She dreams of becoming the head of her SHG cluster and finding a better paying job. She is highly entrepreneurial and doesn’t shy away from approaching influencers in the village to help guide her toward her goals. She has a high potential to be a ‘master’ or ‘expert’ in her community.

As the woman in charge of household finances, what are Lakshmi’s plans for meeting her children’s educational goals and growing her family’s prosperity?

 
 

SEGMENT OVERVIEW

Independents,

by the numbers

Like Laxmi, Independents are predominantly middle-aged women who farm and take control of household finances. Approximately 192 million (16% of the Indian population) fall in this segment.  

Independents

India Average

GENDER (FEMALE)

72%

47%

AGE (35+)

64%

68%

SOCIOECONOMIC (SES 3-4)

56%

54%

HIGH INCOME VOLATILITY

33%

53%

Independents have low income volatility and struggle less to raise funding for paying off debts, school fees and setting aside money for family than other segments. Due to their social bonds, they would share a windfall with family and friends, but also invest in income-generating assets. This entrepreneurial spirit makes them potential early adopters.

Financial Behavior & Attitudes

SAVINGS BEHAVIOR & ATTITUDES

Independents have strong financial health – they are frequent savers and heavily self-reliant and resilient in emergencies.

SAVINGS ACCOUNTS

Independents have strong access to informal and formal group channels. They have not yet turned to mobile money as a savings channel.

BORROWING BEHAVIOR & ATTITUDES

Independents exhibit higher than average comfort with holding debt but lower than average dependability when it comes to borrowing money.

BORROWING ACCOUNTS

Independents rarely borrow money through groups or mobile services.

Independents

India Average

Explore our complete set of findings:

 

DESIGN OPPORTUNITIES

How might we create products and services

for Independents that...

Offer Targeted Loans

Capitalize on their entrepreneurial tendencies with targeted loans for income generation and consumer durables

Benefit Women

Use messaging that champions financial independence by breaking traditional social norms

Inspire by Example

Channel aspirational thinking through

success stories of

female trailblazers

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