The course will focus on the practice of microfinance in India and will travel to two different urban locales: the first, New Delhi is a large metropolitan agglomeration with many slums; the second, Lucknow, is much smaller, compared to Delhi, but still an important city: the capital of the state of Uttar Pradesh and an industrial (machine tools, chemicals, furniture), educational, IT and multicultural center. While both are large cities, New Delhi is international (as befits the capital of the country), while Lucknow has a more provincial air. Students will visit micro-finance institutions involved in bringing different kinds of financial services to people at the bottom of the pyramid – loans, savings vehicles, insurance, and payment services; will hear from the people running these institutions; make field visits; and get an opportunity to hear and see first-hand the issues involved in the financial lives of the urban poor. We will also see how the institutional framework of microfinance is changing due to technology and due to the efforts of the government to bring everybody into the formal banking system. Many aspects of the problems and solutions are society-specific, so the focus will be on understanding the physical and social context. We will have an opportunity to visit the Taj Mahal – a short drive from New Delhi, while Lucknow, as a multicultural city and as the center of the first Indian War of Independence in 1857, has mainly beautiful and history locations which we will visit.
Students will be registered for:
Undergraduate FIN 360 (3 credits)
Graduate FIN 680V (3 credits)
Students will stay in luxury hotels near the city center. Rooms will be assigned with two students per room. This section will be updated once hotel reservations are confirmed with the hotel name, address, and dates of stay.
Meet your Faculty Leader(s)
Dr. P.V. Viswanath: firstname.lastname@example.org or 212-618-6518
Program Cost and Itinerary
The program fee in addition to Pace tuition is $3,700* plus Indian visa (+$100 study abroad fee; approximate and subject to change)
Includes the following:
*Please note that this travel cost is approximate and subject to change in the possible event of airline fuel surcharges.
- Some meals
- Business site visits
- Local transportation
- Travel insurance
Payments and Deadlines
All payments must be completed by the stated deadlines below. For undergraduates, $1,000 Pforzheimer Honors scholarship can be applied if it has not yet been used. Please contact email@example.com if you would like to utilize the Honors scholarship.
2017 estimated program fee $3,700 (in addition to tuition & $100 study abroad fee & India visa)
$1,000 Deposit Deadline: August 30, 2017
Remaining Balance Due (in full): September 29, 2017
Requesting Financial Aid
You may request that your financial aid package be extended for your study abroad program. We will work with you if you have special circumstances and cannot meet the established payment deadlines.
Dependent on acceptance into the course, the Center for Global Business Programs offers international field study scholarships to help fund your travel fees. The Figueroa Scholarship ($2,000) offers awards for competitive students who display academic merit, financial need, and submit a compelling essay. Students are encouraged to apply to both rounds, if not selected in the first round. Round 1: April 10 - May 12, 2017. Round 2: July 24 - September 7, 2017. Applications can be accessed here.
Please be advised of the Pace University Cancellation Policy below:
"I hereby acknowledge that the University reserves the right to make cancellations, changes or substitutions to the program at any time and for any reason, with or without notice, and that the University shall not be liable for any loss whatsoever to program participants as a result of such cancellations, changes, or substitutions. I understand that the University reserves the right to cancel, terminate, and/or discontinue the program at any time. Any refund of tuition and fees, if appropriate, shall be issued pursuant to the University’s and University program’s policies."
Passport and Visa
It is important to obtain the necessary documents before you depart for your study abroad program. In order to cross international borders, you must be able to prove your identity and nationality.
Please be sure to leave ample time before the trip departure to apply for the appropriate travel documents. Passport processing times can fluctuate throughout the year and it is your individual responsibility to prepare your documents accordingly. The average processing time for a US passport is 4 to 6 weeks. For more information, click here.
For the purpose of this international field study, US citizens ARE REQUIRED to apply for a visa for entry into India. Please also ensure that your US passport is valid and does not expire through to your return to the United States.
What is a Passport?
A passport is a document issued by your national government that certifies your identity and nationality for the purpose of international travel. Almost all international travel requires that you have and carry a passport. Your passport must be valid for at least 6 months after re-entry to the United States.
For citizens of the United States, passports are issued by the US Department of State and provides many uses:
It is important not to confuse a Passport Book with a Passport Card. A Passport Book is valid for international travel by air, sea, or land. A Passport Card is valid when entering the US from Canada, Mexico, the Caribbean, and Bermuda at land border crossing or sea ports-of-entry. A Passport Card is not valid for international travel by air.
- When presented abroad, it is a request to foreign governments to permit you to travel or temporarily reside in their territories and access all lawful local aid and protection.
- It allows you access to US Consular services and assistance while abroad.
- It allows you to re-enter the United States upon your return home.
How Do I Apply for a Passport?
First time applicants should follow the instructions listed on the State Department’s website. Applicants must bring their completed application, photos, required documents, and form of payment to one of many acceptance offices, which can be found using the State Department's passport acceptance facility search page.
Those looking to renew an adult passport should follow the instructions listed on the State Department’s website. For citizens over 16 years of age, a passport is valid for 10 years.
The fee to receive or renew a passport is available on the State Department's full chart of costs. It generally takes 4 to 6 weeks to process, so apply for a passport as soon as possible. You could expedite the services at an additional charge.
What is a Visa?
A citizen of a foreign country who seeks to enter another country generally must first visa, which is placed in the traveler’s passport and allows you to travel to, from, and within that particular country or region legally.
Countries typically break visas down into types that reflect the purpose of your visit—tourism, studying, and working, among many potential others.
Each visa has different requirements necessary to obtain them depending on country, type, duration and nationality of the applicant. A country’s consular office should be able to provide you with a list of requirements based on these factors.
A visa is a privilege, not a right. A consular office may deny your visa application, so it is best to adhere to their requirements as much as possible.
How Do I Apply for a Visa?
Obtaining a visa is your responsibility. It is important that you know what is required of you before attempting to enter a country. Failing to obtain a visa (or the correct visa) could result in a denial of entry into a country, and even criminal charges.
You can find the most up-to-date visa information by contacting the consulate or embassy of your host country. US Citizens can also find current visa information on the US State Department website.
Non-resident students must reach out to International Students and Scholars Services (ISSS) by emailing firstname.lastname@example.org.
Indian Visa Application:
Decide which type of Indian tourist visa you want to apply for: (1) Electronic Tourist Visa (eTV) or (2) Traditional Tourist Visa
- Check if you will be able to keep your SEVIS record active while participating in the study abroad program.
- Inquire about re-entry to the US at the completion of your program. Will you need to renew your US visa? Will your travel signature be valid?
- If it will be your final semester, ask whether study abroad will impact your ability to apply for Optional Practical Training (F-1s).
Passport must be valid for 6 months beyond stay in India, contain blank pages for entry stamps
| e-Tourist Visa (eTV)
- Cost: $60
- Suggested time to apply: Cannot apply earlier than 34 days before date of arrival and no later than 4 days prior to arrival
- Single entry for stay up to 30 days
- Issued electronically via email within 3 business days (You must print out the visa and bring it with you, they stamp your passport upon arrival--return ticket to US must be presented upon arrival)
- Apply online: scan your passport information page, upload scanned copy or digital passport style photo, application PDF
- More information
| Traditional Tourist Visa
- Cost: $120
- Suggested time to apply: leave at least 15 days to process
- Multiple entry up to 10 years
- Stamped inside your passport through visa agency
- Apply: signed application form (accessible online), your passport, recent 2x2 passport photo, India Particulars Form, proof of residential address (state ID or original utility bill)
- Apply through Indian government or through visa couriers (Travisa recommended**)
- More information
How to Apply
India uses the Indian Rupee as its national currency.
Standard electricity in India runs at 230 volts, while electricity in the US runs at 110 volts. Students must purchase plug adapters and power converters to protect their electronic devices. These can be purchased in the US or in India. We recommend you purchase your larger heating appliances in India to save room in your luggage and you will not need to purchase an extra voltage converter. These heating appliances can be found throughout major cities and are generally not expensive.
Plug adapters allow you to plug your American flat-pronged (plug type A) device into India's two (or three) round-prong socket (plug type C, D, M). Power converters protect your appliances from overheating, which usually occurs with high current devices such as hair dryers and curling irons. Most plug adapters and power converters can be purchased in a set but for heating devices it is recommended that you purchase a power cord as well.
WiFi vs. International Phones
International cell phone options vary depending on your individual wants and needs. Some students choose to disconnect from their home using only local WiFi to keep in touch, while others want to use their phone to keep in touch with family and friends, post to Instagram, Facebook, or surf the web. Be sure to talk with your family before choosing an option.
International Cell Phone Plans
You can use your own cell phone with an international calling plan. These plans vary depending on your cell phone provider. These plans can be complex so be sure to call your provider for detailed information such as roaming charges, international dialing and receiving of calls and international sending and receiving of texts.
International Sim Cards
Purchasing an international or global sim card allows you to use your own cell phone at reduced rates around the world. Sim cards are best for travelers who are either visiting many countries and/or going to be in a country for a short period of time. You will keep your own cell phone number, have access to voice, text, and data, but spend less on your call service. You pay as you go and reload your sim card when you need to. In order to do this option, you must have a GSM carrier unlocked cellphone for the sim card to work. To find out if you can unlock your cellphone you must contact your cell phone provider.
Buying or Renting an International Phone
Another option is to buy or rent a cellphone for your time abroad. There are many services that offer cell phone plans from basic, very inexpensive cell phones to expensive smartphones.
Below are a few websites where you can purchase and international cell phone. Keep in mind there are tons of sites for you to find a phone. Make sure they are legitimate sites (read the reviews).
WiFi and Apps
Turning off your cell phones data and roaming and relying on WiFi is the cheapest way to keep in touch with family and friends. However, with this option you do not have the ability to Google directions, food or find a place to listen to a live band. Students can also use WiFi, which us usually available in large chain cafes, hotels, hostels and some restaurants. There are many apps you can use to communicate with family and friends such as Skype, WhatsApp, Viber, Facebook Messenger, Line and more.
The average maximum daytime temperature in New Delhi in January is a comfortable 21°C (70°F). There are usually 7 hours of bright sunshine each day, which represents 66% of the 11 hours of daylight.
Expect 19mm (0.7 inches) of rainfall across the whole of January with 1 day with some rain falling. Maximum UV levels will be moderate (4 UV index) at midday when the skies are clear. The average night-time temperature is usually a cold 7°C (45°F).
The average maximum daytime temperature in Lucknow in January is a warm 22°C (72°F). There are usually 7 hours of bright sunshine each day, which represents 66% of the 11 hours of daylight.
Expect 17mm (0.7 inches) of rainfall across the whole of January with 1 day with some rain falling. Maximum UV levels will be moderate (5 UV index) at midday when the skies are clear. The average night-time temperature is usually a cool 8°C (46°F).
In India, fashion and cultural norms are slightly different than the US. For females, dressing in mini-skirts or low cut tops is not culturally acceptable. For both males and females, be aware that fashion is more modest in India than the US, so be prepared to dress smart and modestly.
Health & Safety
Your health and safety are Pace International's top priority and it should be yours as well. Always be aware of your surroundings, travel in pairs and when you are out at night, stick to licensed taxis only. Always have your identification, your insurance card, your hotel card, a debit or credit card, and some cash on you at all times. Do not carry your passport with you unless specified by your professor. Keep your passport, large sums of money, prescription medication, any important documentation and electronics in your hotel room, preferably in a safe at all times.
Before traveling to a new country, it is important to do your research. Every country has visible cultural and social norms such as dress, language and food in which you can easily notice. Although these norms are technically visible, there is some ambiguity, especially concerning language. You may think you are using a word one way but the local population will perceive it another way.
There are also non-visible cultural and social norms. Learning these norms before you depart will prevent embarrassment or even worse, insulting locals. You are a guest in India so it is important to respect social and cultural norms.
Below are some examples of the Indian culture that are important to know before departing on your study abroad program.
If you have a question and do not know how to say it in Hindi, instead of speaking your question, write it down. Generally, Indians do know English but they understand it better when written, as accents can confuse words. This is especially useful when taking a taxi. If you do speak English, make sure not to mumble and speak slowly.
Key words and Phrases
Pronunciation of words in Hindi can seem difficult but do not let that deter you from learning the language. Quick tip - Write down the words phonetically next to the correct spelling of the word to help. Click here to learn how correct pronunciation.
|My name is Theresa
||mera naam Theresa hai
|How are you?
||aap kaisi hai
|I am fine
||mai thik hu
|I am from America
||mei America se hu
|Nice to meet you
||aap se milke khusi hui
|How much or what is the cost
||kitnay ha hai
||bill de dijiye
|Please take me to my hotel
||mujhe ek taxi chahiye
|I don't know
||mujhe nahi malum
|Where is the toilet
||toilet kidhar hai
|How to get to the station
||station ka rasta bataiye
|0, 1, 2, 3, 4, 5
||shunya, ek, do, teen. char, panch
Another tip - Bollywood movies are fun ways to pick up some words in Hindi as well as learn new songs. There are many popular movies that are available on the internet.
Given the vast size of India which encompasses a diverse range of climate, culture, ethnic groups, and more, Indian cuisine varies significantly from region to region and available local produce. Indian food is also heavily influenced by religions and traditions.
When you are in Old Delhi, you just can't miss the food there. The streets buzz with activity and are filled with the aroma of food. For the connoisseurs, there are restaurants like Karim's. For the food historians, there's a chance to taste Butter Chicken at Moti Mahal.
Chandni Chowk, often called the food capital of India, is famous for its street food. The variety consists of snacks, especially chaat. If you wish to enjoy it, shed your high-brow attitude to soak in the flavours and delicacies. Come on, everybody... Yes, it's a kind of celebration in congregation. Chandni Chowk resembles a fair everyday. The streets are lined with halwais (sweet sellers), namkeenwallahs (sellers of savouries) and paranthewallahs (sellers of rich, flaky breads soaked in ghee).
Lukhnow's cuisine borrows much of its royalty, grandeur and elaborate delicacies from its glittering past, while is vibrant, colourful and sparkling with a rich street food culture. Mughal delicacies like the countless varieties of Kebabs as well as Tikkas, Roomali Roti are the dishes that one must try in Lucknow. They are available in various styles and versions and in almost every food outlet, while the older areas of the city can offer you authentic flavors of the Mughlai food.
Galouti kebabs are a very typical Lucknow specialty - extremely soft mutton kebabs made with chopped papaya. An equally lip-smacking item that you can't miss in Lucknow is the Biryani. Other than these do indulge in Sheermal, Nahari and Kulcha, Kheer, Jalebis, Chaat, Kofta, Samosa, Qulfi, Petha, Kachori and countless more relishes.
Norms and Faux Pas
Don't assume you can use a person's first name--in many parts of the country it's considered rude.
Take off your shoes at homes, places of worship and even in some shops and businesses. Rule of thumb: If you see shoes near the door, assume you should take yours off too. Speaking of shoes, be mindful of where you put your shoes, as they are considered unclean. Try not to touch others with your feet or shoes. You'll notice Indians on the train making a simple gesture of apology if they accidentally touch someone with their feet. It is a quick gesture where the right hand, palm out, is extended toward the point of contact and drawn back, palm in, toward the chin or chest.
Even if you see beef on a menu, do not order it for dinner, especially if you are in mixed company. At times even saying "beef" or "pig" in public, is a faux pas. Cows and pigs are sacred animals, it is important to respect this while in India.
Be cautious and aware of how you reference Indian culture, as it is always a good idea to be mindful of others' home countries while you are traveling. US culture is often more conversationally lax than other cultures, so some topics of conversation may be considered taboo or sensitive to speak openly about. Also, refrain from getting into any religion or political-related topics, as these are sensitive issues in the country.
Local taxis (recognisable by their black and yellow livery) and autorickshaws have meters but these are effectively ornamental as most drivers refuse to use them. Delhi Traffic Police runs a network of prepaid autorickshaw booths, where you can pay a fixed fare, including 24-hour stands at the New Delhi, Old Delhi and Nizamuddin train stations; elsewhere, you’ll need to negotiate a fare before you set off.
Fares are invariably elevated for foreigners so haggle hard, and if the fare sounds too outrageous, find another cab. For an autorickshaw ride from Connaught Place, fares should be around 40 to Paharganj, 60 to the Red Fort, 70 to Humayan’s Tomb and 100 to Hauz Khas. However, it may be a struggle to get these prices. Visit www.taxiautofare.com for suggested fares for these and other journeys. To report overcharging, harassment, or other problems take the license number and call the Auto Complaint Line on 011-42400400/25844444. Taxis typically charge twice the autorickshaw fare. Note that fares vary as fuel prices go up and down. From 11pm to 5am there’s a 25% surcharge for autorickshaws and taxis. The government has proposed to install microchips to track local taxis to make them safer.
A short cycle-rickshaw ride is ?30. Dealing with autorickshaws demands some serious haggling.
The best way to get around is by shared autorickshaw – flag one down and tell them the neighborhood you're headed for (like Hazratganj, for MG Road, or Charbagh, for the railway station) and they'll wave you in if they're going that way. Pay ?5 to ?15 depending on the length of the trip.
A metro system is under construction – we were told that the first phase was supposed to be completed in early 2017, but from what we saw, that seemed highly optimistic.
Things to pack in your carry-on: Follow airline customs and regulations http://www.tsa.gov/traveler-information/3-1-1-carry-ons
- Remember that everything you pack you will need to carry. If you are unable to carry it on your own, then you are packing too much!
- Leave some room for any new items you may purchase while abroad.
- Inquire about airline luggage regulations and pack accordingly.
- Find out about dress customs in your destination and pack clothes that will help you blend-in with the locals.
- Pack a nice outfit for special occasions.
- Do not pack anything that you are not willing to lose.
- If you are going to a place where the temperature will vary, pack clothes that you can layer.
- Pack clothes that don’t require special wash.
- You will probably walk more than the usual, bring comfortable shoes! In some destinations closed-toes shoes may be recommended due to possible injuries or infections.
- Power adapters and converters as applicable, find out more about adapters and converters here.
- If you know your roommate, see if you can share some items.
- Shower shoes
- Backpack or tote bag for day field trips
- Find out if you really need to bring a laptop. Keep in mind that a laptop can be stolen, so you may need to carry with you at all times.
- Cell phone
- Visa (if applicable)
- Financial documents
- Airline tickets (round trip)
- Letter of acceptance in your study abroad program
- Address where you will need to go as well as arrival instructions
- Important phone number(s)
- Prescription medications appropriately packed and identified
- Toiletries and a change of clothes in case of baggage or flight delays
- Cell Phone
- Pocket Dictionary
Keeping in touch
Keeping in touch with family and friends is becoming easier as WiFi is more prevalent in international cities. You no longer need to spend a ton of money to call home or go to an internet café. Downloading apps on your smartphone is becoming an essential resource for travelers. Some apps that you will find yourself needing:
- Facebook Messenger
Money, money, money… It is an important component to your study abroad program to have all your money matters taken care of before departing. From contacting your banks, to creating a budget and obtaining local currency, this is a step you should begin as early as possible.
It is important to contact your banks to let them know you are traveling internationally and for how long. If you do not let your banks know, not only will you not be able to use your credit cards or debit cards, your accounts will be frozen. Unfreezing accounts take time, time in which you will not have any money available for you to use.
Creating a budget for yourself is essential to not running out of money abroad and having to call friends or family for additional funds. Below is a budget worksheet to help you stay on track with your money.
Taking your credit card abroad is very common and probably the easiest way to make a purchase. Be aware of interest rates and international charges. Some credit cards charge you a lot for a single purchase while others have no international transaction fees. Call your bank to find out what the international transaction fee is on your card. Please note: International cards vary by card, not by company. For example, some Chase cards have zero fees, while another may have a very large fee. Read the guidelines carefully before deciding on a card.
Make sure your credit card has a designated pin number. You will need a pin number to make any purchase. If you do not have a pin, or if you are unsure, a quick call to your bank will clear up any confusion.
Currency exchange rates can be high and the interest rate at many shops, especially near or in airports or train station, can really hurt your budget. You will generally receive the best exchange rate at your bank. You should being $100 to $200 dollars in the local currency with you. Some banks have the most popular currency, like Euros on hand, while others have to be ordered. This process can take up to 2 or 3 weeks so be sure to do this in advance. If and when you need more cash, an ATM is your best option, but again be aware of transaction fees. Not only will the bank whose ATM you are using charge you, your bank will most likely charge you as well.
Below are a list of international credit cards we suggest:
- Chase Sapphire Preferred® Card
- BankAmericard Travel Rewards® Credit Card
- Discover it® 12:12
- Wells Fargo Propel World American Express
- Citi ThankYou® Premier Card
- Capital One® Venture® Rewards Credit Card
- Capital One® Quicksilver® Cash Rewards Credit Card
- Capital One® Spark® Cash for Business (all Capital One cards have zero international transaction fees - these are our favorite)