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Road to Wealth: Father Joy and the Savings Groups of Mankidi Image

Promoting Inclusive Markets and Financial Systems

Road to Wealth: Father Joy and the Savings Groups of Mankidi

Road to Wealth: Father Joy and the Savings Groups of Mankidi

Summary

Villagers living in the remote, hilly areas of Orissa have found a way to have their cake and eat it too. With the help of a local priest, they have established government-linked self-help groups from which groups receive important subsidies and opportunities and local savings groups which operate autonomously of the government and banking system. Villagers, able to clearly distinguish the benefits of each kind of group, still stash money in the forest to store individual savings.

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