Access to formal banking is increasing across the world and may transform how people manage their finances. We report from a field experiment that randomly provides access to a bank account to a representative sample of villagers in rural India. The treated respondents save actively into the...

To what extent does access to banking help poor households to save and smooth consumption? To answer this fundamental question, we combine a field experiment that randomly provides access to a bank account with weekly interviews on household finances. Access to banking does not change average...