Financial education

In 2010 we began a programme to provide financial education to workers in India. In addition, we have helped hundreds of workers open bank accounts for the first time. 

Many workers in India do not have bank accounts and over 80% have never received any financial education. This can leave workers vulnerable when it comes to budgeting expenses and saving their money. Many turn to moneylenders which can leave workers further at risk. Women are particularly vulnerable as traditionally they have not been in charge of household finances and often lack financial awareness. 

Women Bank Account

Our programme

Our programme with local partner Geosansar has provided easy to open bank accounts for workers since 2010. Geosansar bank kiosks are located near factories or in worker communities. Accounts can be opened using biometric finger scans, which is useful for workers who may be unable to read or write. Rather than receiving their salary in cash, which can be unsafe, workers receive a salary directly into their bank accounts.

In 2012, we launched a new initiative with BSR to provide financial education. The HERfinance programme works by selecting  a group of workers from each factory who are trained by local partners as coaches. The coaches are then responsible for training the other workers in the factory, and providing support and advice.  The programme includes training on basic numeracy, saving, creating a household budget, saving money, and how to borrow responsibly.

Bank accounts for workers

Our programme in India has helped workers in factories producing for Primark open bank accounts. Our film explores the programme in action and how it is helping workers manage their money more safely. 

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