At the same time, the informal economy in India is growing at a fast rate, employing 93 per cent of the labour force in the country. Now add to this the fact that India is getting urbanised at a faster rate than the rest of the world and around 60 per cent of the urban youth were jobless in 2004. According to the Consultative Group to Assist the Poor, an international consortium of development agencies, people with access to savings, credit, insurance and other financial services are more resilient and better able to cope with everyday crisis. Research done by the ngo We the People shows that very few microfinance institutions are working in Delhi slums and resettlement colonies despite an enormous demand for microfinance. One such institution Satin, working in the capital, estimated the number of people living on a daily earning of up to us $2 in Delhi and the National Capital Region at about two million. read more