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Money mosaics: financial choice and strategy in a West Delhi squatter settlement

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  • Orlanda Ruthven

    (Institute for Development Policy and Management, University of Manchester, UK)

Abstract

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.

Suggested Citation

  • Orlanda Ruthven, 2002. "Money mosaics: financial choice and strategy in a West Delhi squatter settlement," Journal of International Development, John Wiley & Sons, Ltd., vol. 14(2), pages 249-271.
    • Handle: RePEc:wly:jintdv:v:14:y:2002:i:2:p:249-271
    DOI: 10.1002/jid.875
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    Cited by:

    1. Saxena, Raman & Mokashi Punekar, Ravi, 2020. "Designing pro-poor mobile financial services: Learning from the financial diaries of urban poor in India," World Development Perspectives, Elsevier, vol. 20(C).
    2. Daryl Collins, 2005. "Financial instruments of the poor: Initial findings from the financial diaries study," SALDRU/CSSR Working Papers 130, Southern Africa Labour and Development Research Unit, University of Cape Town.
    3. Alison Stenning & Adrian Smith & Alena Rochovská & Dariusz Świątek, 2010. "Credit, Debt, and Everyday Financial Practices: Low‐Income Households in Two Postsocialist Cities," Economic Geography, Clark University, vol. 86(2), pages 119-145, April.
    4. B.S. Suran & D. Narayana, 2009. "The Deluge of debt: Under-standing the financial needs of poor households," Centre for Development Studies, Trivendrum Working Papers 412, Centre for Development Studies, Trivendrum, India.
    5. Fischer, Gregory, 2011. "Access to finance: a functional approach to supply and demand," LSE Research Online Documents on Economics 38369, London School of Economics and Political Science, LSE Library.
    6. B. S. Suran & Narayana D, 2009. "The Deluge of Debt: Understanding the Financial Needs of Poor Households," Working Papers id:2260, eSocialSciences.
    7. Sohini Paul, 2014. "Creditworthiness of a Borrower and the Selection Process in Micro-finance: A Case Study from the Urban Slums of India," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 8(1), pages 59-75, February.
    8. Abhi Dattasharma & Rajalaxmi Kamath & Smita Ramanathan, 2016. "The Burden of Microfinance Debt: Lessons from the Ramanagaram Financial Diaries," Development and Change, International Institute of Social Studies, vol. 47(1), pages 130-156, January.
    9. Paul, Sohini, 2013. "The Credit-worthiness of a borrower and the selection process in Micro-finance: A case study from the urban slums of India," MPRA Paper 48116, University Library of Munich, Germany.

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