Policy Implications for Financial Inclusion of Unskilled Labor Migrants: Insights from Goa

Mridula Goel and Saurabh Nayak ()
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Saurabh Nayak: BITS Pilani

Chapter Chapter 14 in Current Issues in the Economy and Finance of India, 2018, pp 221-246 from Springer

Abstract: Abstract With increasing urbanization, IndiaIndia has been witnessing phenomenal domestic migration and the resultant surge in remittancesRemittances . The paper examines the case of using migrant remittancesRemittances as one of the key triggers to encourage financial inclusionFinancial inclusion . It also seeks to initiate a policy debate on the role that the State should be playing towards financial inclusionFinancial inclusion . The paper echoes the need for a business approach tailored to financial needs and behavior of the end user. In line with this, it attempts to assess the demandDemand side challenges faced by the banking sector in promoting financial services to the poor labor migrantsLabor migrants . It also tries to assess their willingness and ability to shift to mobile based platforms of financial inclusionFinancial inclusion . The paper presents its findings based on a primary survey conducted in the state of Goa which has been witnessing a considerable inflow of labor migrantsLabor migrants annually.

Keywords: Financial inclusion; Labor migrants; Remittances; Payment banks; Pradhan Mantri Jan DhanYojna (Union Government scheme to bank the unbanked) (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-319-99555-7_14

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DOI: 10.1007/978-3-319-99555-7_14

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