CRISIL Foundation has taken a unique approach to financial inclusion.

1. Multiple Touchpoints -Reinforcing behaviour change

Participatory financial awareness workshop

The workshop is the first of Mein Pragati interventions. It advocates good financial practices such as saving by reducing non-essential expenses; making informed decisions related to credit; investments in relevant products such as pension, and insurance; and government-run schemes.

Refresher sessions, guided bank/ATM visits

What follows are refreshers and guided visits to build each participant’s confidence. During the refresher sessions, the women are encouraged to accurately track and monitor their cash flows using budget diaries.

Goal-based financial planning for the future

Subsequently, the women are encouraged to make goal-based financial plans for their future, culminating in financial health card-based counselling for each participant. Personalised financial health cards generated by the Mein Pragati App aid each participant’s self-awareness through socio-economic profiles created, basis self-reported information. The health cards also facilitate goal-based financial decision making with recommendations specific to each participant profile.

Community level meets

An interactive platform for community members and financial service providers, the meets facilitate financial linkages.

IVR-based audio dramas

Mein Pragati continues to engage with participants and community members alike through IVR-based audio dramas to champion good financial habits, and sustain programme recall over an extended period.

A pool of trained community-based volunteers

The programme leaves behind a pool of trained community-based workers/volunteers to carry on addressing the community’s immediate financial needs.

2. The Mein Pragarti Front Liners- CRISIL Mitras, and Sakhis

CRISIL Mitras, typically young adults with minimum qualification of passing Class XII, are the front-line community-based workers facilitating financial capacity building interventions. CRISIL Mitras once recruited undergo intensive Train the Trainer sessions and are assigned goals in line with Mein Pragati programme goals. The Mitras are assessed at the end of each lifecycle. Following an evaluation, they undergo need-based capacity building.

Sakhis are enterprising women from Self Help Groups (SHGs) that have participated in Mein Pragati interventions, and continue engagement with participants to assess progress and address queries. This pool of trained Sakhis and Mitras will continue to champion and reinforce financial inclusion.

3. The Mein Pragarti Front Liners -The Mein Pragati Android App for CRISIL Mitras

The Mein Pragati Android application has been developed to aid end-to-end project management, generate socio-economic profiles for participants, and recommend financial goals based on information shared by participants (thoroughly reviewed by field staff). The application has an easy to use interphase, designed to bridge knowledge and skill gaps inherent in excluded rural communities.

Similarly, automated IVR-based audio messaging is used to continually disseminate information that reinforces key programme messages

4. The Multiplier Effect-Developing a skilled community cadre at the grassroots

Foundation will leverage its experience in creating a pan-India cadre of rural financial experts at the grassroots in rural communities. Foundation has begun creating this cadre with over 300 CRISIL Sakhis in Assam and Rajasthan as on date. A two-tier structure - CRISIL Mitras (Master Trainers), and Sakhis (Community-based facilitators) - will build capacities of their fellow villagers, driving outreach through the multiplier effect. The Sakhis will be certified based on their proficiency.