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Case Study

Raso Devi lives in Kalighat area pavement with her husband, son and daughter who hailed from Bihar since 1980’s. She has always worked to support the family. Her first business was to sell flowers near the Kali Temple. Thereafter, she switched over business to sell vermillion. Out of her income, she saved money in informal way and finally put her savings money for the marriage of her daughter in the chit fund company that was lost. She does not have proper documents (KYC) to have a bank account. With the help of KSDF facilitation, she has opened a no frill savings account in March, 2016 in Punjab National Bank of Kalighat Branch which about 30 mts away from her residence. With a span of 3 months, she has a deposit of Rs.12, 000/- in her bank account. The opening of the Savings Account has not only provided a safe place to save but also gives her social status. It is hard to monetize the social status she gained. She has expressed regarding the financial inclusion initiative as:
“The program has given me an identity after 30 years of living as a street dweller. Now, I have a savings account as well as an account under the Prime Minister Suraksha Bima, both opened at the Kalighat Society for Development camp.”