Bank Accounts for the Unbanked: Evidence from a Big Bang Experiment

Chopra, Y and Prabhala, N and Tantri, P L (2017) Bank Accounts for the Unbanked: Evidence from a Big Bang Experiment. Working Paper. Indian School of Business. (Unpublished)

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Abstract

We provide empirical evidence from India’s PMJDY program, a “big bang” supply shock that gives bank accounts to virtually all of its 280 million unbanked. Proprietary data from individual bank account statements shows that there is significant uptake, usage, usage growth, and balance accumulation in PMJDY accounts. Activity levels increase over time and converge towards those in non-PMJDY accounts although PMJDY account holders are poorer, unfamiliar with banking, and undergo no literacy training. The results suggest that the 2 billion unbanked around the world have unmet demand for banking or that banking supply can stimulate its own demand.

Affiliation: Indian School of Business
ISB Creiators:
ISB Creators
ORCiD
Tantri, P L
UNSPECIFIED
Item Type: Monograph (Working Paper)
Uncontrolled Keywords: Financial inclusion, Household finance, Savings, Financial literacy, Bank accounts
Subjects: Finance
Depositing User: Ilayaraja M
Date Deposited: 01 Jul 2019 18:58
Last Modified: 01 Jul 2019 18:58
URI: http://eprints.exchange.isb.edu/id/eprint/1204
Publisher URL: http://dx.doi.org/10.2139/ssrn.2919091
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