Established in 2010, Grameen Foundation India (GFI) is a social business and a wholly-owned subsidiary of Grameen Foundation that catalyses double bottom line approaches to serving the poor and the poorest. Today, through Grameen Foundation India, we work with our partners to make health information and financial services more accessible to poor populations through the use of digital technology. Its mission is to enable the poor, especially women, to create a world without poverty and hunger. Grameen Foundation has also co-promoted a sister organization, Grameen Capital India, which enables access to capital for social enterprises and also provides debt finance to such impact-focused social enterprises in India.
While the Government of India is making inroads for financial inclusion in rural India, millions of people are still unable to access and use financial services. On the demand side, lack of awareness, low income levels, limited financial and digital literacy continue to limit the demand for financial services. On the supply side, factors affecting uptake of services include lack of banking infrastructure, products that are not structured to meet the needs of low income populations, and complex processes that deter the poor.