The Action Research program has been MSIF’s premier initiative that worked across several intervention areas. It later reoriented its focus to focus exclusively on financial inclusion.
The Action Research Program is a core component of MSIF and offers laboratories to test and refine a wide range of innovations. MSIF works with partner institutions, including banks, government agencies, cooperatives, business correspondent network managers, non-bank financial companies and NGO-microfinance institutions, to develop and test market-led, innovative products and delivery systems.

Over the duration of the program, MSIF developed and tested several products and models, which served millions of clients. The program led to the development of new and refined products and delivery systems.

In 2013, at the request of the Bill & Melinda Gates Foundation and the Omidyar Network, and in line with Government of India priorities, MSIF reoriented the program to prioritize financial inclusion. The program now focuses on digital financial service initiatives including savings, remittances, G2P models, and payments.