Financial Inclusion
Sub-K equips rural shopkeepers in India with technology and training so that they can act as local bank agents, providing basic financial services to their villages.
Year of Engagement
Relevant SDGs

The Challenge

Around 850 million people live in rural India and most of them have limited access to financial services. Without a bank account, they cannot keep their savings secure, get loans to invest in their livelihoods, or have access to insurance products. Since bank branches are far from these villages, they must travel for days in order to complete a simple financial transaction or collect their government benefits. As a result, they have limited tools to help them embark on their path out of poverty.

The Solution

Sub-K builds bridges between villagers and banks by equipping owners of local business with mobile technology and training them to become banking agents. In other words, Sub-K makes it possible for villagers to open bank accounts, pay bills and organize their savings at local shops that they can easily go to everyday.

The Impact

Sub-K has a network of 4,500 local business partners across India and has facilitated access to financial services for at least 2.1 million households. So far, 2.65 million banking transactions have been enabled by the project – a total of 264 million rupees. Sub-K is dedicated to achieving inclusive economic growth and is eager to expand its proven model across India, aiming to replicate their solution in other developing countries in the future.