Not very many do. it is a strictly cash economy - often facilitated by informal banking channels - shops or contractors or local goons they are in debt to, people they trust heading back to their village (usually, they graviate towards people originally from the same community and same neck of the woods).
Some do send postal money orders and such when it comes to sending remittances back home Aadhaar is supposed to "fix" kyc but that's going to be very doubtful. Banks - possibly, or in the nearest town. At least nationalized banks or local cooperative banks (equivalent to savings and loan outfits). Of course in the really really small and out of the way villages, not much - but there are other banking channels, microbanking initiatives and such (though some of these are pure corporatized excuses for loan shark operations, for all they're publicly traded) Microbanking, micro savings products, government sponsored health insurance schemes etc are all available. Their reach does need to be sizeably expanded - and a lot of the graft and pure commercialism weeded out .. but it is around, and there are some genuinely good players in this space. --srs (iPad) On 18-Apr-2013, at 20:06, Caitlin Marinelli <[email protected]> wrote: > Hey all, need a little help on some research. Can anybody recommend a > reading or a contact that can help me with these questions? > > We are trying to understand financial needs of migrant workers: > > Do they have bank accounts? > Problems faced by them in opening bank accounts esp on KYC front > How do they send money home? > Do they have banks in their villages? > Do they get any loans there? > Do they need micro insurance? > Do they need any micro saving products? > > -- > Caitlin Marinelli > > PS - Believe in the power of collective creativity? Check out The Goa > Project <http://www.thegoaproject.com> > > blog: http://caitlinmarinelli.wordpress.com/ > cell (Mumbai): +91 9820207217
