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  • 2022
  • Working Paper

Banking on Transparency for the Poor: Experimental Evidence from India

By: Erica M. Field, Natalia Rigol, Charity M. Troyer Moore, Rohini Pande and Simone G. Schaner
  • Format:Print
  • | Language:English
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Abstract

Do information frictions limit the benefits of financial inclusion drives for the rural poor? We evaluate an experimental intervention among recently banked poor Indian women receiving government cash transfers via direct deposit. Treated women were provided automated voice calls confirming details of transactions posted to their accounts. The intervention increased women's knowledge of account balances and trust in their local banking agent. Indicative of improved consumption-smoothing by income-constrained women, administrative data show that treated women accessed government transfers faster when the service was active, with treatment effects dissipating after the notifications were discontinued. On average, other aspects of account use remained unchanged. However, consistent with account information benefiting those with high transaction costs more, the intervention increased account use among women who lived more than an hour from the kiosk.

Citation

Field, Erica M., Natalia Rigol, Charity M. Troyer Moore, Rohini Pande, and Simone G. Schaner. "Banking on Transparency for the Poor: Experimental Evidence from India." NBER Working Paper Series, No. 30289, July 2022.
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About The Author

Natalia Rigol

Entrepreneurial Management
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More from the Authors
  • What Do Impact Investors Do Differently? By: Shawn A. Cole, Leslie Jeng, Josh Lerner, Natalia Rigol and Benjamin N. Roth
  • Investing in the Next Generation: The Long-Run Impacts of a Liquidity Shock By: Patrick Agte, Arielle Bernhardt, Erica M. Field, Rohini Pande and Natalia Rigol
  • Targeting High Ability Entrepreneurs Using Community Information: Mechanism Design in the Field By: Reshmaan Hussam, Natalia Rigol and Benjamin N. Roth
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