In most Indian households, especially in economically weaker sections. Men control the finances, including access to the bank account. As a result, women don’t have financial equality and have accepted their role to not be financially active or independent.

Ujjivan Small Finance Bank champions the financially unserved and underserved. And wanted to intervene in a culturally relevant manner to drive change so that women could have financial equality.

Indian marriages are attended by thousands of guests. Traditionally, most of these guests come bearing cash gifts, called a ‘Shagun’.

As per tradition, the Shagun is never a round figure and is always accompanied by a 1 rupee coin as this signifies prosperity and continuity for the couple.

Before gifting their Shagun to the newly-weds, guests put it in specially-designed envelopes or ‘Shagun Ka Lifafa’ - which for convenience already have a one rupee coin attached.

We wanted to reimagine this culturally relevant device and make it bring financial equality to the women of India.

Our eureka moment was sing the age-old lifafa as an account opening form. What’s more women could open an account with just that one rupee coin.

Ujjivan Small finance bank champions the financially unserved and underserved saw an opportunity to intervene at the most effective point, the weddings themselves. By having these Shagun ka lifafas which were account opening forms finding their way to weddings across India, we were solving the problem of financial inequality at the wedding itself. It was the perfect opportunity for women to start their next chapter of their lives as financial equals.

The shagun ka lifafas were converted to account opening forms but on the surface still resembled traditional lifas, with designs that were popular across India. We placed them in places where traditional shagun ka lifafas where always available. In locations such as stationary shops, gifting stores, outside wedding venues, general stores etc. They organically made their way to newly-wed women and ensured financial equality.

The Shagun ka lifafas made their way to weddings across India, empowering 232,000 women towards financial equality. They organically made their way to weddings and it was simple and effortless for women to open a bank account using the lifafa as a form.

Indian marriages, at every strata of society, traditionally see guests come bearing cash gifts, called a ‘Shagun’.

Most of these cash gifts are in multiples of Rs 10’s or 100’s, and in round numbers. But as per tradition, the Shagun should never be a round figure. Which is why they are always accompanied by a 1 Rupee coin, for this addition signifies prosperity and continuity for the couple.

Guests usually put this cash or ‘Shagun’ in a special envelope, or a ‘Shagun Ka Lifafa’ - which for convenience already has a one rupee coin attached.

Ujjivan Small Finance Bank, champions the financially unserved and under-served. Our eureka moment was using reimagining this age-old lifafa as an account opening form.

When women opened the envelope, they realised they were receiving more than a cash gift. Because, they could now open an account with just that one rupee!