Microfinance
Microfinance is the provision of a broad range of small scale financial services such as loans, payment services, money transfers, and insurance to people in developing economies who would not otherwise have access to traditional banking facilities. Through microfinance, individuals can take control of their financial situation and help grow their local economy.
HSBC works with microfinance institutions, which in turn provide loans to customers. For example, in India HSBC is working with 11 microfinance institutions to provide finance to around 250,000 people in rural and urban areas.
Related case studies
One Rickshaw at a Time, India
Shukla's husband was a rickshaw puller. He rented a rickshaw for 25 to 30 rupees per day and earned around 2,200 rupees per month.
