Business Case Studies & Business Publications

Annapurna Finance: Just in Time

Harris, Jared D., ...

Case

Annapurna Finance: Just in Time

Harris, Jared D.; Kaufmann, Lauren; Chinnaswamy, Trent

S-0476 | Published November 5, 2025 | 10 Pages Case

Collection: Darden School of Business

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This case explores Annapurna Finance Pvt. Ltd. (AFPL) and its collaboration with Accion International and Mastercard through the Mastercard-Accion Partnership (MAP) to advance digital financial inclusion in India. In response to the COVID-19 pandemic, the partners developed the Just in Time (JIT) emergency loan—a small, flexible, and fully digital credit line designed to help low-income borrowers access funds instantly during emergencies. As demand for the JIT loan plateaus in the post-pandemic era, Accion’s senior director of digital strategy Debdoot Banerjee must assess how to adapt the product for long-term impact. The case is intended for courses in inclusive finance, digital transformation, and social impact strategy. It allows students to explore themes of financial inclusion, innovation in microfinance, and cross-sector partnerships between global corporations and local financial institutions. Instructors can use the case to analyze the economics and design of digital loan products, the challenges of reaching underserved populations, and the tension between scalability and sustainability in impact finance.