This case study is the third in CGAP's series on scaling inclusive insurance while preserving consumer value. It takes a deep dive into SEWA's innovative heat insurance product, developed with partners and grounded in direct insights into the needs and risks of its members.

The engagement aligns with the Bank Group’s strategic priorities under its ‘Four Cardinal Points’, particularly efforts to expand access to capital, strengthen financial and digital systems, and accelerate industrialization across the continent.

This publication explores a scalable, community-led model to expand access to enterprise credit for rural women entrepreneurs in India, an underserved segment often caught in the “missing middle” between microfinance and traditional bank lending.

The framework, as approved by the Sub-Committee of the Financial Stability and Development Council, lays down five strategic objectives towards elevating the state of financial inclusion in the country.

This new funding round will enable Dugar Finance to expand its secured lending operations to micro-, small-, and medium-sized enterprises (MSMEs) and underserved commercial vehicle borrowers in Tier-2 to Tier-6 regions across India.

The research shows that digital payment platforms, mobile wallets, micro-lending applications, and Unified Payments Interface services have become the primary entry points into formal finance for many first-time users.

Building on Hyman Minsky’s 1977 work on financial instability, this paper presents a theoretical framework for understanding microfinance crises.

This publication explains how DPI acts as a foundation for digital economies and how it is being adopted in health, education, agriculture, transport, and logistics. It looks at gaps, challenges, and opportunities in six countries: Bangladesh, Bhutan, India, Maldives, Nepal, and Sri Lanka.

The report aims to inform policy development, highlight effective models and initiatives, and identify remaining gaps in policy and practice in India.