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.

Seekers

16% of India | 155 million people

young, curious, ambitious

Click below to learn more:

Watch Puja's

Short Documentary

PUJA'S STORY

Meet Puja

 

“I want to stand on my own two feet and show everyone that I am doing something or other for everyone, no matter how small it is.”

Puja is a young woman who lives with her husband in her maternal home in a village. She has studied up to grade 10 and is eager to continue her studies. She helps her father cultivate paddy as laborers on someone else’s land, for which they earn about ₹ 5000 every six months. The family raises goats and cattle for milk and keeps a small vegetable plot. Puja sees her education as her main asset in life and is keen to study further. In addition to her long-term goal of getting a degree and becoming a teacher, she also wants to give tuitions and start a vegetable stall to earn money in the near term. Ultimately, she wants to get a B.Ed degree so that she can be a high school teacher, but she’s not sure how to save the 1 lakh she has heard she will need for fees.

With big and earnest life aspirations in sight, what financial strategies do Puja have in mind?

 

SEGMENT OVERVIEW

 

Seekers,

by the numbers

Like Puja, Seekers are typically younger women in casual employment or with a dependent status of middle socioeconomic status (SES). Approximately 155 million (16% of the Indian population) fall in this segment.

Seekers

India Average

GENDER (FEMALE)

67%

47%

AGE 35 OR BELOW

59%

32%

SOCIOECONOMIC (SES 3-4)

55%

54%

HIGH INCOME VOLATILITY

45%

53%

Seekers have low usage of both formal and informal finance. They exhibit moderate income volatility, due to the temporary nature of their work and dependence on others.

Financial Behavior & Attitudes

SAVINGS BEHAVIOR & ATTITUDES

Seekers are infrequent savers of money compared to the average, but they are willing to take risks when it comes to spending, as they worry less about the future.

SAVINGS ACCOUNTS

They are slightly less likely to have informal savings channels such as chit funds and self-help groups (SHGs). They are also the least likely of all segments to have mobile wallets due to a low usage of technology.

BORROWING BEHAVIOR & ATTITUDES

Seekers exhibit average borrowing frequency and borrowing dependability in comparison to the rest of the country.

BORROWING ACCOUNTS

Like most other India segments, Seekers infrequently borrow using mobile services or in group settings.

Explore our complete set of findings:

Seekers

India Average

 

DESIGN OPPORTUNITIES

How might we create products and services for Seekers that...

Leverage Family-Oriented Themes

Position schemes and products as oriented

towards the benefits of the family and household

Orient Towards

Long-Term Goals

Leverage the power of compound interest over their lifetime, given their youth and dependence on family for most daily needs

Build Financial Resilience From the Start

Start their financial lives

in the formal sector, as

they are young and have

not yet built bad

financial habits

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