Digital payments platform MobiKwik and Samagra, an NGO serving urban poor, on Thursday launched "M-Gullak" to promote the habit of savings among them.
"M-Gullak will help urban poor become a part of India's digital revolution. These users can save as little as they want and benefit from the services we offer," Upasana Taku, co-founder and director of MobiKwik, said in a statement.
"M-Gullak" will provide ICT-enabled mobile wallet platform that enables users save in very small amounts at various locations, recharge phones, buy digital goods and transfer to their bank accounts.
The initiative has first been launched in Pune and is expected to benefit 150,000 urban poor residents by the end of this year.
By early 2017, "M-Gullak" will be available for over 50 million users in Delhi and other metros.
"M-Gullak currently enables and motivates Samagra's toilet users to save as little as Rs 2 on a daily basis using a small 'Kiosk' in the community toilets as the collection point," added Swapnil, Founder of Samagra.
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