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P129 ROSCA and Digital Technology Boosting Financial Resilience in Mumbai Slums Amidst Economic Shock
Short Description
This paper examines whether community‑based ROSCAs or UPI‑based digital payments better supported household financial resilience among slum dwellers in Mumbai during the second COVID‑19 wave. Using a two‑wave panel, we construct a multidimensional Financial Resilience Index mapped to absorptive, adaptive, and transformative capacities and derived via Multiple Correspondence Analysis. We estimate difference‑in‑differences models with individual fixed effects to identify causal impacts of ROSCA membership and UPI adoption across the shock. Preliminary results show a substantively large and statistically significant protective effect for ROSCA membership (DiD = 12.26, SE = 5.164, p < .05) and a smaller, non‑significant DiD for UPI adoption (DiD = 4.437, SE = 4.614). Mechanism diagnostics indicate ROSCAs operated mainly through social capital and non‑erosive coping. Findings suggest policy emphasis on strengthening ROSCA governance and pairing digital finance promotion with buffer‑building measures to better protect consumer and family economic well‑being in high‑risk urban contexts.
Type of presentation
Accepted Poster Presentation