CSR initiatives of Citi India
E-nabling Micro Savings
Cashpor Micro Credit is a poverty-focused, not-for-profit company that provides microfinance exclusively to women who live below the poverty line in eastern Uttar Pradesh and Bihar. During its association with these women, Cashpor realized that to accelerate financial inclusion of the poor it was necessary to offer micro savings along with micro credit. It also attempted to use mobile phone enabled technology to overcome the obstacles in providing safe savings facilities to women in the villages.
Citi Foundation has supported Cashpor to scale up this Mobile-Phone Enabled Microfinance Project to make savings available to more than 400,000 women via Grant support 2011: 200 branches in 11 districts of Uttar Pradesh and Bihar.