Parvathy Vijeesh

CHAPTER 1 INTRODUCTION 1.1 Introduction: Migration is a social phenomenon. Migrant labourers are those who move from one state to other in search of job. It is also a social interaction between regions of varying level of economy and social development. The volume of migrants has considerably changed over years. A large number of migrants are stepping from other state like Tamilnadu, Rajasthan, west Bengal, Orissa and Assam and have come to Kerala. Studies brought many information on migration, that the flow are pronounced from economically backward or stagnant regions to prosperous or dynamic regions, and it confirms that except in the case of forced and sequential migration, now migrants have moved to better economic opportunities. Thus it reveals us that migration is normally viewed an economic phenomenon and voluntary migration is backed by economic reasons. This large inflow of migrant workers has helped to meet the shortage of labourers due to the out migration to other states and emigration to other countries as gulf, use, Britain and Australia etc. in search of jobs. While a relatively small section of the migrants from other states are professionals and skilled workers, majority are occupied at unskilled area and are engaged at construction site, road working and pipe lying. The main pulls behind migrants are the large opportunities for employment and shortage of local labourers in migrant states. It is quite interesting factors that while many Keratitis have been migrating to the gulf countries, both for skilled and unskilled work, and many unskilled labourers from other parts of the country consider Kerala as their ‘gulf’. The other reason for the growth of migration is the rapid growth of Kerala economy, particularly in infrastructure and construction sectors. This maid a direct effect on people’s livelihood and standard of living. Thus migration changed their pattern of consumption, saving and investment in order to achieve a better standard of living. At present Kerala has the highest wage among the states of India. Now Kerala is known for both migration and immigration. It is also estimated that nearly 10% of Kerala population has migrated to other as well as other states. Migration generally occurs due to a complex interaction of push and pull factors; push factors which make the people leave their home and pull factors which make people move to a participation area. The following are the some examples of push and pull factors. Push factors:- Lack of job and services Poor safety or security High crime levels Famine Drought Flooding Poverty War Political or religious persecution Pull factors:- More jobs and services Better quality of life Low crime levels Good food supplies Better climate and fertile land Less risk of natural hazard Wealth Political security According to the World Bank, financial inclusion encompasses people who do have a bank account with a formal financial institutions. On the one hand the poor benefit from basic payments, savings and insurance services: on the other hand, for smaller firms who are subject to greater constraints, access to finance is synonym to innovation, job creation and economic growth. Further , with today’s dependents on technology, technological innovation make it easier and less expensive for people to use financial services, send remittances home, and increase financial security that is precisely why new technology’s go hand in hand with financial inclusion, and contribute to connecting migrants worldwide through new methods of banking and money transfers. Moreover, the market of prepaid cards has grown substantially as the migrant remittance segment of populations was targeted. Furthermore, the impact of financial education is enhanced by strong social networks between senders and receivers. When not able to access formal financial institutions, family members living abroad are put at a disadvantage. Hence, it is foremost necessary to analyze the possible interactions between remittance and financial inclusion. Remittance are also among the most important financial transactions for populations that have limited access to financial banking services. Many providers of financial services outlined the potential for new client groups by offering additional services such as remittance accounts. Remittance also provided financial information. In such context, financial education stands as an important tool for the growth of small enterprises as well as poor households, especially when dealing with migrants. However, financial inclusion does not only rely on financial knowledge, but also on the existing legal framework of a society. 1.2 REVIEW OF LITERATURE Harriet Kauri and Kamal Nain Singh (2015) studied the recent trends in financial inclusion in India with special reference to Pradhan Mantri Jan Dhan Yojana (PMJDY), highlighting its key areas and suggest strategies to ensure maximum financial inclusion for the underprivileged and unbanked areas. Sonam Kumari Gupta (2015) highlighted on Performance of the Pradhan Mantri Jan Dhan Yojana (PMJDY) and latest trends being implemented for financial inclusion by PMJDY. It is found that, of the accounts opened at public sector banks under the Jan Dhan Yojana, 71% are zero balance, against 64% for private banks released by the ministry, only 28% of the accounts opened under the scheme are active, with about Rs.9, 000 crores deposited in these. Patnaik (2015) analyzed that, only 13.8% of the respondent in Bubaneswar have access to bank accounts and out of the total respondent who do not have bank account due to various reason are alarming are not aware of PMJDY scheme. Amongst males 78.9% and in 95.08% were not aware of the scheme. The study concluded that, the banks should make more effort in creating awareness on zero balance account and should aggressively campaign for such scheme Diveyesh Kumar (2014) discussed the overview of financial inclusion using PMJDY in India. It is revealed that, it is the greatest steps ever taken to eradicate poverty are financial inclusion through PMJDY. It is suggested that, the success of this scheme constant review and regular check is very much essential 1.3 objective of the study 1.4 statement of the problem Despite widespread unemployment existing in Kerala, there is scarcity for the skilled and unskilled labor in the state. The demand for such skilled and unskilled laborers is met through the migration of people from other states. The other states are looking upon Kerala as a lucky place. The present study analyzes their socio economic conditions. 1.5 methodology This study is based on primary and secondary data. Primary data is collected by conducting a primary survey based on random sampling. Secondary data is collected from Kerala economic review, Indian economic review, economic and political weekly, census 2011 report, journals, magazines, internet etc. For the study we used simple mathematical tools like average and percentages. The sample for the study is collected from Trissur corporation area. We have collected data by visiting both places (either working site or resident). We visited their residents mostly in the evening between 5-7 pm after they return from work. This study is mainly focused upon the financial inclusion of migrant workers. 1.6 chapter scheme 1.7 LIMITATION OF THE STUDY It was difficult to communicate to migrant workers as they did not know the local language . Another limitation is non availability of official data on the migrant workers in kerala Time to complete the study Restricted entry to some areas such as workers personal opinions . Universality of this study is less