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Money mosaics: financial choice and strategy in a West Delhi squatter settlement
Author(s) -
Ruthven Orlanda
Publication year - 2002
Publication title -
journal of international development
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.533
H-Index - 66
eISSN - 1099-1328
pISSN - 0954-1748
DOI - 10.1002/jid.875
Subject(s) - microfinance , settlement (finance) , leverage (statistics) , financial services , embeddedness , finance , service provider , business , work (physics) , service (business) , product (mathematics) , public relations , marketing , economic growth , economics , sociology , political science , social science , engineering , geometry , mathematics , mechanical engineering , machine learning , computer science , payment
This paper examines the financial services and devices used by dwellers of Kalibasti, a squatter settlement in West Delhi. It discusses to what extent people are able to put together effective money management strategies through available devices and to what extent we might perceive ‘service’ or ‘product gaps’ which point to where new or existing providers could step in. It highlights the embeddedness of financial devices used by residents in wider kinds of relationships with relatives, co‐residents, employers, ‘patrons’ and others. The paper concludes that access to adequate services does not necessarily correspond with access to formal or semi‐formal services as is often presented by microfinance advocates. Rather it reflects people's awareness, job and income security, and capacity to leverage personal networks, all of which contribute to the capability of squatter residents to make financial relations and services work for them. The paper ends by making some tentative suggestions as to how our findings might be of interest to prospective microfinance providers in squatter settlements such as Kalibasti. Copyright © 2002 John Wiley & Sons, Ltd.