Informal workers make up more than four fifth of India’s labor force. Many struggle to make ends meet. For them, poverty typically perpetuates since banks don’t invest in poor people living off an informal income. Exclusion from home loans means being forever at the mercy of landowners in the absence of tenants’ rights. With the support of UNDP’s Business Call to Action program, social enterprise Shubham Housing Development Finance Company provides home loans to people who can vouch for their integrity solely through lengthy interviews and referrals from their community. The goal is to provide home financing to 50,000 families by 2018. Already, reported impact includes improved access to clean water, electricity and sanitation, safer communities, decreased stress, greater confidence and improved wellbeing.
Home loans in India help families excluded from formal banking system escape poverty
More of Today's Solutions
Fearless hearts: more than 50 Taylor Swift songs are perfect for life-saving CPR
BY THE OPTIMIST DAILY EDITORIAL TEAM In a remarkable marriage of pop culture and medical science, Monash University's Victorian Heart Institute researchers revealed that ...
Read MoreGoodwill’s new store inside the Silicon Valley Jail offers hope and job...
BY THE OPTIMIST DAILY EDITORIAL TEAM Goodwill of Silicon Valley started an innovative venture by launching its first store inside Milpitas' Elmwood Correctional Facility. ...
Read MoreHow to shake off a stranger’s bad vibes
BY THE OPTIMIST DAILY EDITORIAL TEAM It happens to the best of us: you're out in the world, going about your business, and a ...
Read MoreRevolutionizing humanitarian aid with ingenious cardboard bed design
Humanity is confronted with an unprecedented situation. The number of forcibly displaced people on Earth will have surpassed 100 million by 2022, a shocking ...
Read More
