My last week in India has come and gone, and I have been reflecting on the eight weeks I had the privilege of spending in this amazing country. In my previous blogs, I have shared some of my experiences in Mumbai and the many fascinating things I have seen. Yet, although my understanding of India is much better now, I still feel I have not been able to triangulate all the different pieces of the new things I had the opportunity to experience and learn during my time here. India is an intense country. As soon as you start discovering this country, it is easy to get overwhelmed by its contrasts, colors, food, people, religions, streets, architecture, and more. Mumbai, formerly known as Bombay, is also an international and very fascinating city that is much more than the home of the Bollywood film industry and the main financial district in the region.
During my professional career, I have had the opportunity to work in microfinance across different places, including Latin America, Africa, the United States, and, more recently, India. Although each country and region has its own peculiarities, they all share very similar challenges to balance financial sustainability and financial inclusion, which requires continuous innovation to meet the needs of customers. In addition, providing financial services to very low-income households is just a gateway – but not a sufficient condition to – achieving financial inclusion. The role of governments and banks is increasingly important – governments through regulation, and banks through building and creating roads into markets. In this scenario, it is critical to continue innovating and learning more information about the impact that microfinance has on the lives of our customers and communities. This type of information will be useful to policymakers, donors, investors and financial services.
I would like to thank to all of the Swadhaar and Accion team, especially Preeti Telang and Nihar Jena. Also to my teammates Madhan and Pravash, thanks so much, I learned so much from you during these last eight weeks. Lastly, I would like to thank to my friends Apurva and Rathna who made my adaptation to living in India very easy and helped me so much to better understand the Indian culture. It will be impossible to remember India without a smile.
Pablo Nunez is working out of Mumbai, India, with Swadhaar FinServe, an Accion partner and microfinance institution, on a small and medium enterprise lending project.