An innovative approach to domestic staff loans

This system could convert 15 crore households into social venture capitalists, offering Rs. 75,000 crore worth of microloans to staff, and integrating the latter into formal lending


Harsh Roongta

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During my childhood, I often tagged along with my grandmother to the local market. A vivid memory lingers in my mind, where she cleverly negotiated a lower price with a vendor, then gave the initially demanded price back as a bonus. Despite our family’s limited means, she found ways to assist those less fortunate, demonstrating the universal impulse to help irrespective of economic or social status.
India’s middle class continues to harbour mistrust towards institutional approaches to charity. It prefers to give directly, and witness the impact of its actions. One prevalent method is to provide advances to domestic help, to be recouped from future salaries.
However, managing this process can be a daunting task. I recall my spouse struggling
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of or the Business Standard newspaper

First Published: Jun 18 2023 | 8:16 PM IST

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