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Migrants turning towards banking for employment
May 22, 2020
Due to the COVID-19 outbreak in the country the workers are migrating from urban cities to their native place. Banking correspondence is coming forward as an option for many rural traders in the country. Financial institutions in rural areas have seen queries for opening banks since the lockdown has begun.
Rishi Gupta, MD, Fino Payments Bank said, “Number of leads we get is rapidly increasing daily. Especially the youngsters are opting to open the banks”.
Industry players attributed the requests to reverse migration tendencies. Family members returning to the villages from urban cities with thriving BC networks might be performing as brand ambassadors, triggering hobby among rural shop owners searching for more recent enterprise opportunities.
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