Banking Options for Children in Situations of Vulnerability, Compounded by HIV/AIDS: Outcomes of a Study Conducted in Delhi, Andhra Pradesh, & Tamil Nadu

This document reviews a study commissioned by the India HIV/AIDS Alliance to explore the need for institutional banking facilities among children orphaned by AIDS and children made vulnerable to HIV, as well as those children who live in unorganized colonies, have no fixed address or guardians/parents and no birth certificates. The study was carried out in three cities of India. It reviewed existing legal and regulatory banking frameworks, and assessed barriers and banking options for orphans and vulnerable children. The study found that children are interested in saving and earn substantial amounts, but are drawn to negative coping mechanisms because of absence of savings options. The paper concludes that there is an urgent need to empower children and bring them into the mainstream, while at the same time building awareness about savings options to make them financially independent.