IMTFI Researcher Mani Nandhi is cited in the CGAP Microfinance Blog, "Understanding Financial Needs of Urban Migrants" by Deepti K.C,. for her IMTFI rickshaw puller study:

"Mohan Kumar, a 19-year-old Rickshaw puller migrant in Delhi, used to deposit his daily savings amount with a local shopkeeper. One day, when he needed the money, the shopkeeper refused to give him his deposit. Mohammad Waris, another migrant, lost all his savings, when a stranger who had just befriended him stole his bag.

Stories of Mohan and Mohammad are not exceptional cases for Rickshaw pullers in Delhi. A CMF-IFMR report (Nandhi 2011) shows that while 95% of 176 interviewed Rickshaw pullers reported to save small amounts, most of them do it without any formal bank account (only 1% reported using bank accounts). 55% reported of using personal instruments such as the home or on person, 31% were saving with neighborhood shopkeepers, and 17% were using other saving mechanisms such as lending to friends, saving with relatives, and even burying money under soil. Not surprisingly, many reported that their money was frequently stolen."

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