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HSBC brings a business model of banking to the doorsteps of the poor
Author(s) -
Marar Pramod,
Iyer Balaji S.,
Brahme Unmesh
Publication year - 2008
Publication title -
global business and organizational excellence
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.227
H-Index - 16
eISSN - 1932-2062
pISSN - 1932-2054
DOI - 10.1002/joe.20247
Subject(s) - microfinance , livelihood , sustainability , financial inclusion , financial literacy , business , stakeholder , business model , literacy , financial services , economic growth , marketing , finance , economics , management , agriculture , geography , ecology , archaeology , biology
Tiny loans can make a huge difference, especially when coupled with financial literacy and capacity building. With a global commitment to sustainable business through financial inclusion, HSBC partners with microfinance institutions and other organizations to empower micro‐entrepreneurs among India's rural poor, who in turn are changing lives, families, and entire communities. The authors provide an overview of HSBC Group's sustainability strategy, a brief history of microfinance in India, and HSBC in India's role in serving the microfinance industry. They also discuss the bank's multi‐stakeholder initiatives for capacity building, which include two schools where rural women learn essential business and technical skills and financial literacy, and an environmental and social village‐based initiative for water conservation and livelihood creation. © 2009 Wiley Periodicals, Inc.