In India, millions of people in the low-income groups (maids, watchmen, clerks, even the corner-store paan seller) are out of the formal financial system, be it for lack of infrastructure or financial knowledge. While infrastructure is a matter of the state and the corporates, there is a wide gap to be filled in terms of financial education.
When it comes to finances, the lower income groups have always been ignored in India. Any financial advisor or intermediary catering to only low-income class of people will not be profit-making for a long period of time. However, no one can deny the need to cater to this class of people. Very few in the low-income group recognise the importance of saving for the future — something that can be taught and needs to be taught.
“the MF project” is a non-profit initiative for last-mile financial inclusion in India. The goal is to encourage savings of low-income and economically weaker groups, with a specific focus on mutual fund investments as a disciplined tool for savings.
We aim to help the underserved and the unserved manage money. We aim to educate and empower them with their finances.
Our efforts range from financial education to providing access to financial products.
Our happiness ranges from them knowing how to operate a bank account to feeling financially secure for their families’ future.