Research Topic:

The relationship between e –Wallets (m-banking) and financial inclusion of migrant workers.

Submitted To:                                                            Submitted  By:                    

Prof. Monica Bhardawaj                                                  Team 10 (SecB)

                                                                        Bhaskar Kumar -69

                                                                        Soni Yadav- 110

                                                                        Kanav Dhingra-

                                                                        Lovish Malhotra- 83

                                                                        Ishaan Barua- 76

                                                                        Avinash Kumar- 68

ACKNOWLEDGEMENT

Any task that is undertaken reaches successful completion not only by an Individual effort but also by the guidance and support of many others. Here we acknowledge our heartiest gratitude to a few of them who have helped us to complete this report successfully.

We express my sincere feelings of our gratitude to Prof. Monica Bhardawaj, for giving us an opportunity to do Field project with Migrant Workers who came to Delhi from different states of India. Her motivation, inspiration encouraged us for the completion of this report. Her guidance was immeasurable to the completion of our report as her warm assistance response towards our queries which made it easy to perform better without confusion. And also we would like to thank her for providing an abundance of time for finishing the project. So, that everyone can learn well.

EXECUTIVE SUMMARY

With advancement in technology, things around us have changed drastically. Technology caters to man’s comfort and convenience. With the help of your smartphone, you can do everything. Be it ordering food or groceries, booking a cab or movie tickets, etc.

With the introduction of Mobile Wallet, it has become extremely convenient for a person to make cashless transactions. And although a number of companies have cropped up in India, offering consumers this product called ‘mobile wallet’, there is still a lack of awareness among people about the concept and its utility.

This report is focusing on the holistic approach of the government to make payments a click away but is that click away solution being effectively used by everyone or only a handful of them are able to use the privilege of this new revolutionary change? All of these queries are answered at the end of this research.

The research was initially started by a questionnaire which was manually filled by 28 migrants from several parts of India who have been residing in Delhi for at least 2 years. The respondents were mainly-vendors, auto-rickshaw drivers, small shop workers etc.

After compiling the data using tools like SPSS it was concluded through government took the initiative of making it convenient in reality, migrants don’t really use it. Some of them are not even familiar with the concept of mobile banking.

Reasons like trust issues, reliability, lack of functionality came up when they were questioned on as to why they don’t use mobile banking. One of the migrants clearly said, “All these innovations are for rich people we still have to rush to the bank and struggle”.

 Showing that through the step was taken to help and ease out the hassle the actual victims of the chaos are still suffering from it.

Somewhere the implementation was done before educating the people about the usage. In order to make the people familiar with this innovation campaigns can be set specifically for teaching them the benefits and why it is better than the traditional way.

The trust on the innovation is still to be gained.

“Advancement in technology and innovations have mostly helped the rich without adequately solving problems of the poor. This state of affair must change” Prime Minister Manmohan Singh 

Contents

Introduction        5

Concept of mobile banking        5

Mobile Banking in India        6

RESEARCH QUESTION        7

RESEARCH OBJECTIVES        7

Literature Review        8

RESEARCH METHODOLOGY        14

METHODS OF DATA COLLECTION        14

SECONDARY DATA        14

PRIMARY DATA        14

DATA COLLECTION        14

SAMPLE SIZE        14

SAMPLING TECHNIQUE        15

QUESTIONNAIRE DESIGN        15

Data Analysis (Descriptive Analysis; & two Statistical Tests)        15

Results        18

Finding & Conclusion        22

BIBLIOGRAPHY        23

Introduction

“Technology has forever changed the world we live in. We're online, in one way or another, all day long. Our phones and computers have become reflections of our personalities, our interests, and our identities. They hold much that is important to us, everything is a click away”

The digital revolution continues to transform most aspects of our daily life. In particular, the digital revolution has resulted in the vertical convergence of business channel capacities and the horizontal integration of marketing departments. The digital revolution also continues to transform the public sector organizations and services towards an envisioned cashless society. Additionally, it is now possible to make purchases on the go with mobile payments transacted through mobile phones. This report examines factors influencing the adoption of mobile banking services.

The concept of mobile banking

"Within five years, half of today’s smartphone users will be using their phones and mobile wallets as their preferred method for payments."

Mobile Banking refers to provision and availability of banking and financial services with the help of mobile telecommunication devices. The scope of offered services may include facilities to conduct bank transactions, to administer accounts and to access customized information. In the broader sense mobile banking as that type of execution of financial services in the course of which - within an electronic procedure - the customer uses mobile communication techniques in conjunction with mobile devices. Mobile Banking can be said to consist of three inter-related concepts viz. Mobile Accounting, Mobile Brokerage and Mobile Financial Information. Mobile Accounting is sometimes characterized as transaction-based banking services that revolve around a bank account and are availed using mobile devices. Not all Mobile Accounting services are however necessarily transaction-based. A more precise definition of Mobile Accounting would, therefore, characterize it as “availability of account-specific banking services of non-informational nature”. Whereas Mobile Brokerage, in context of banking services, refers to intermediary services related to the course, e.g. selling and purchasing of stocks. Mobile Brokerage can be thus defined as transaction-based mobile financial services of non-informational nature that revolve around a securities account. At last, Mobile Financial. Information refers to non-transaction based banking and financial services of informational nature. It includes subsets of both banking and financial services and is meant to provide the customer with anytime, anywhere access to information. The information may either concern the bank and securities accounts of the customer or it may be regarding market developments with relevance for that individual customer.

Mobile Banking in India

Mobile phones have become an essential communication tool for almost every individual worldwide. In India, where mobile subscribers far exceed fixed line subscribers because of better mobile infrastructure in comparison to fixed-line infrastructure has made mobile banking much more appealing in India today. Various players involved in providing mobile banking services whether banks, financial institutions, service providers, operators etc. are therefore expecting a potential growth in mobile banking in India. However, the actual mobile banking usages don’t match the great number of mobile subscribers in the country. Reason could be various issues involved in mobile banking services like Interoperability- due to lack of mobile banking technology standards and large number of different mobile phone devices , Security of financial transaction – both at physical level i.e. security of mobile device and data encryption level , Regulatory authority – RBI & TRAI conflicts on regulations in India , Telecom service quality - network congestion, delay in SMS delivery while using any mobile banking service , Personalization of services – preferred language of user, standard beneficiary list, customized alerts etc., Customer illiteracy – a serious issue at reading illiteracy level and technical illiteracy level , Revenue sharing basis – problem in the revenue sharing agreements between mobile service providers, banks, content providers and aggregators , Know Your Customer issue – to prevent money laundering  etc. Mobile banking users are affected by above-mentioned issues directly or indirectly. Perception of mobile banking users towards these issues and their concern will definitely affect adoption of mobile banking in India. This paper attempts to explore various mobile banking issues from users’ perspective and to alert various parties involve in mobile banking services viz. mobile operators, banks, content providers, aggregators etc. about relevant issues which could become challenges for them in providing effective mobile banking services.

eWallet

Along with M banking, a new payment method is also introduced Digital wallet to make the payment system more easy for both customers and bank.A Digital Wallet also knew as e-wallet allows users to make electronic transactions quickly and securely. A Digital Wallet functions much like a physical wallet. The digital wallet is a method of storing various forms of electronic money (e-cash), the digital wallet has also evolved into a service that provides internet users with a convenient way to store and use online shopping information.

What Is an eWallet? 
Once you have been online for a few weeks or months, you will have an online identity. You may need and use quite a few online passwords and pins, along with personalized billing and shipping information. Not only do you need to enter your personal and financial data at each site, but you also have to remember and secure that information. An e-wallet is a convenient, secure place to store data related to your online identities. Once you start using one, you will wonder how you ever managed without it.

RESEARCH QUESTION

Does M-banking lead to financial inclusion with specific reference to the migrant workers?

This research will attempt to answer the following questions:

• What is the impact of the attitude of the customer on the usage of mobile banking services?
• What is the impact of impeding factors on the customer’s usage of mobile banking services?

RESEARCH OBJECTIVES

• To identify the effect of m-banking on financial inclusion
• To understand the behaviour of consumer towards mobile banking
• To examine the factors that affect the choice of the consumers in case of mobile banking.
• To understand the consumer’s overall awareness of mobile banking.

Literature Review

Jean N. Lee, Jonathan, Morduch, Saravana Ravindran, Abu S. Shonchoy and Hassan Zaman (October 13, 2017)

This paper presents a study on Migration in search of urban jobs provides a path to higher income for poor rural residents, but migration can be costly and remittance-sending inefficient. We experimentally estimate the impact of mobile banking coupled with migration in Bangladesh, using a sample of rural households paired with family members who migrated to Dhaka. We provided the treatment group with knowledge about how to sign up for and use mobile banking accounts. The training-induced a substantial increase in rural mobile bank account use, from 22% in the control group to 70% in the treatment group. Migrants who used mobile banking increased the remittances they sent home by 30% in value. As a result, rural households borrowed less, were more likely to save, and experienced significant and substantial positive impacts on health, education and agricultural productivity. Treatment households that experienced negative health conditions and agricultural productivity shocks were better insured than those in the control group (and positive agricultural productivity shocks were more fully exploited). Migrant workers exposed to the treatment were more likely to be in garment work, saved more, and were less likely to be poor. However, they reported being in worse health. The results show that, in this setting, mobile banking improved rural social and economic conditions, partly by playing an insurance role. The impact on migrant welfare was mixed.

Arjan de Haan& Ben Rogaly (29 Mar 2010):

Detailed empirical studies of migration in South and South-east Asia and Africa, the contributors provide illustrations of the importance and normality of migration in rural life. The studies show that the relationship between migration and rural change is complex and context-specific. Migration has often increased inequality, but in many cases also supported vulnerable livelihoods. Much depends on the social processes at work, the ways in which identities shift through migration and how gendered ideologies of work are deployed and change. Labour mobility usually serves the interests of capital, not only in ensuring labour supply but also, often, in dividing workers; however, the power of capital relative to labour is contingent. We conclude this essay by exploring ways in which public policies can support migrants by making migration less costly and more secure, by reducing discrimination and enhancing access to health care and other services.

David Mosse, Sanjeev Gupta, Mona Mehta, Vidya Shah, Julia finds Rees  & KRIBP Project Team (29 Mar 2010):

Seasonal labour migration is an increasingly important aspect of rural livelihoods in tribal areas of Western India. Such migration can no longer be viewed merely as an adjunct to an essentially agrarian way of life but has to be seen as integral to the coping, survival and livelihood strategies of tribal farming families. Rural to urban migration is often viewed as a consequence of the environmental crisis in which migrants as 'ecological refugees' [Gadgil and Guha 1995] are forcibly displaced by processes of deforestation, soil erosion, water scarcity, land fragmentation, declining agricultural productivity and population increase. While increasing pressure on a fragile resource base has indeed contributed to widespread failure to meet subsistence needs among tribal households, the research discussed in this study shows that the forces leading to migration are as much to do with the social relations of dependency and indebtedness which subsistence failure entails, as with ecological decline. The problem is not so much one of declining production, as of systems of usurious money lending, labour contracting and exploitation. The social experience and consequences of migration are far from uniform but shaped by class and gender. For a minority of Bhil household’s migration offers positive opportunities for saving, investment and meeting contingencies. For the poorer majority, migration is a defensive coping strategy covering existing debts and extreme economic vulnerability. In combining unequal and individualised income accrual with the need for joint livelihood strategies, migration has a major impact on intra-household relations.

Cai He & Wang Jin  (《Sociological Studies》 2007-06):

This article discusses what factors might affect migrant workers' decisions to choose city household registration and migrate to the city permanently. We found that among different groups with different migration intentions, individual inclinations to move and institutional pressures work in different ways. If using willingness to give up land as the indicator for behavioural permanent migration intentions, then the main factors affecting migrant workers' intentions are individual inclinations to move, which mainly include individuals' human capitals and their inclination towards urban lifestyle, so the choice is mainly based on economic rationality. If we use the willingness to change one's household registration to the city where they are working as the indicator, then the main factors are mostly about localities and institutional pressures, which point to the social rationality underlying the migrant workers' pursuit for institutional protections to improve their living conditions in the cities.

Slade, Emma L.; Williams, Michael D.; Dwivedi, YogeshK.(  June 1, 2013)

Combining payment systems with mobile phones finally provides consumers with a solution to each of the five payment scenarios: stationary merchant automat, stationary merchant person, electronic commerce (e-commerce), mobile commerce (m-commerce), and customer-to-customer. Although an object of study for more than a decade, and predicted to be one of the future's most successful mobile services, mobile payments (m-payments) have achieved varying degrees of success. The purpose of this paper is to contextualise m-payments and examine existing research relating activity to m-payments in order that gaps for future adoption research can be identified.

Allen, Helen, Innovations in Retail Payments: Mobile Payments. Bank of England Quarterly Bulletin, (Winter 2003)

Ways to make retail payments using the internet and mobile phones are proliferating. Some are offering new access routes to existing payment means, others use different means to transfer value, but all attempt to provide greater convenience and choice in payment services. Few, however, have reached critical mass and none has displaced existing payment methods. Nevertheless, the prospect that these new services could be widely used raises some policy questions. For example, central banks are interested in any potential effects on financial stability and, in the longer term, in whether such innovation might have monetary policy implications. For these reasons, central banks monitor the evolution of the market, even though any such impacts may be a long way off. Moreover, it may well be that the system-wide risks will be relatively small even if e-payment usage becomes significant.

NiinaMallat (30 November 2006)

This paper presents a qualitative study on consumer adoption of mobile payments. The findings suggest that the relative advantage of mobile payments is different from that specified in adoption theories and include independence of time and place, availability, possibilities for remote payments, and queue avoidance. Furthermore, the adoption of mobile payments was found to be dynamic, depending on certain situational factors such as a lack of other payment methods or urgency. Several other barriers to adoption were also identified, including premium pricing, complexity, a lack of critical mass, and perceived risks. The findings provide the foundation for an enhanced theory on mobile payment adoption and for the practical development of mobile payment services.

ChangsuKim,MirsobitMirusmonov,InLee(2 December 2009):

Mobile payment services analyzed the impact of m-payment system characteristics and user-centric factors on m-payment usage across different types of mobile payment users and suggested new directions for future research in this emerging field. To analyze the adoption behaviours of m-payment users, we proposed an m-payment research model which consists of two user-centric factors (personal innovativeness and m-payment knowledge) and four m-payment system characteristics (mobility, reachability, compatibility, and convenience). We evaluated the proposed model empirically, applying survey data collected from m-payment users regarding their perceptions on mobile payment. We also attempted to categorize m-payment users into early and late adopters and delineated the different factors for these two types of adapters that affect their intention to use m-payment.

The results indicate that the strong predictors of the intention to use m-payment are perceived ease of use and perceived usefulness. All respondents reported that the compatibility of m-payment was not the primary reason for their decision to adopt it. Interestingly, our findings indicate that early adopters value ease of use, confidently relying on their own m-payment knowledge, whereas late adopters respond very positively to the usefulness of m-payment, most notably reachability and convenience of usage. Moreover, late adopters’ perceived ease of use is influenced by personal innovativeness, which can probably be best explained by the fact that innovative late adopters are tech-savvy and feel confident to use m-payment technologies for their needs.

ShuiqingYanga, YaobinLua, Sumeet Gupta, YuzhiCaoaRuiZhangc (16 Sept. 2011.):

Mobile payment is an emerging and important application of mobile commerce. The adoption and use of mobile payment services are critical for both service providers and investors to profit from such an innovation. The present study attempts to identify the determinants of pre-adoption of mobile payment services and explore the temporal evolution of these determinants across the pre-adoption and post-adoption stages from a holistic perspective including behavioural beliefs, social influences, and personal traits. A research model that reflects the characteristics and usage contexts of mobile payment services is developed and empirically tested by using structural equation modelling on datasets consisting of 483 potential adopters and 156 current users of a mobile payment service in China. The findings show that behavioural beliefs in combination with social influences and personal traits are all important determinants of mobile payment services adoption and use, but their impacts on behavioural intention do vary across in different stages. Theoretical and practical implications of the findings are presented.

Usage of Mobile Banking

The usage of mobile banking by bank's customers is the final outcome in the proposed model of this study. Practically, every step in the proposed mobile banking transaction process requires customer's attitude and intention towards using this service (Moon & Kim, 2001; Pavlou, 2003). Hence, we argue that customer's attitude and intention towards mobile banking significantly affects the usage of mobile banking services. Recently, considerable research has been done to explore the relationship between the usages of mobile banking and the customer's perceived usefulness (e.g., Bhatti, 2007; Chau & Lai’s, 2003; Davis et al., 1989; Kim et al., 2007; Pavlou, 2003; Venkatesh, 2000; Venkatesh& Davis, 1996, Venkatesh & Morris, 2000). Therefore, we examine the relationship between customer's perceived usefulness of mobile banking and the usage of this service.

Intention toward Mobile Banking

Behavioural intention refers to an individual’s willingness to perform (Ajzen, 2002), or not to perform, a specific future behaviour (Konerding, 1999). It has been considered an important predictor of an individual’s behaviour (Ajzen, 2002; Castañeda Muñoz-Leiva, & Luque, 2007). Almost every step in the proposed online transaction process requires customers to interact with their banks and use mobile banking. Since intentions towards the use of mobile banking, it is justifiable to consider the variables of the technology acceptance model in predicting intentions to use mobile banking for transactions. TAM has received substantial attention in the information systems literature because it focuses on system use, has reliable instruments with outstanding measurement properties, and is frugal. It has been shown to apply to a wide range of information technologies, including e-commerce. For instance, Moon and Kim (2001) investigated the impact of perceived usefulness and ease of use on consumer use of the internet. Thus, in this study, we argue that customer's intention towards the use of mobile banking is influenced by their perceived usefulness of mobile banking. Also, we suggest that customer's intention toward using mobile banking significantly affects the usage of mobile banking. This is line with Ajzen (1991), as, within the framework of the Theory of Planned Behavior (TPB), customer’s intention toward a behaviour is largely influenced by consumers’ attitudes.

Dr. KarminderGhuman, CS Shruti Srivastava (study on e-payment giants: Freecharge&PayTM ,2016)

 This article discusses emerging internet-based service provision industry, whether it is a better strategy to develop a unique positioning on the basis of single key service or it’s better for an organization to offer multiple services, thereby reducing risk, increasing traction and thus increasing its valuation? To answer this fundamental question, the present study employs the case example of two leading e-platforms: Freecharge and PayTM that are employing diametrically opposite strategies in order to scale up their ventures. It also examines the role of Push and Pulls strategies in a single industry, thus drawing the reader to take a position, which is better and why?

Gurpreet Singh Sambhy (Study of Mobile Payment Services in India 2014)

The thesis describes the rapid growth and development of payment systems in India and how there has been a slow shift from e-payment systems to m-payment systems. The key mobile payment systems described in the thesis include but not limited to, the Nokia money, and Airtel money. The key findings of the thesis have been supplemented with SWOT analysis, ARA model analysis and Ansoff matrix models of the mobile payment systems in the Indian market. The business models described in the thesis have been analysed by considering a few key factors and analysis results depicted that the biggest challenge of deploying mobile payment systems is initiated by uncertainties in the environment which result in lack of Acceptance Network, Interoperability and Accessibility for everyone in society (Including educated and uneducated).

A study by Amarante Consulting (Market Study of Digital Financial Services in India, June 2014)

This report provides an objective assessment of the current status of Digital Financial Services (DFS) in India, future insights into the development of the industry and market conclusions based on global best practices. Amarante Consulting, a boutique firm specializing in DFS across emerging markets has produced this report in partnership with Amdocs, a provider of customer care, billing and order management systems for telecommunications carriers and internet services providers.

James M. Leonhardt & Rongwei Chu (Online banking adoption at the bottom of the pyramid: a survey of Chinese migrant workers, 2 May 2017)

The purpose of this paper is to identify several factors affecting Chinese migrant worker’s adoption of online banking. Chinese migrant workers are BoP consumers that have migrated from rural China to work in China expanding urban regions such as Shanghai. The results support habit adoption theory and provide managers with insight on how to increase BoP consumer’s adoption of financial services.

 Dr Hamza Salim Khraim, Dr Younes Ellyan AL Shoubaki & Dr Aymen Salim Khraim (Factors Affecting Jordanian Consumers’ Adoption of Mobile Banking Services, NOV 2011)

 Banking in several developing countries has transcended from a traditional brick-and-mortar model of customers queuing for services in the banks to modern day banking where banks can be reached at any point for their services. This can be attributed to the tremendous growth in mobile penetration in many countries across the globe including Jordan. The current exploratory study is an attempt to identify the underlying factors that affect mobile banking adoption in Jordan. Data for this study have been collected using a questionnaire containing 22 questions. Out of 450 questionnaires that have been distributed, 301 are returned (66.0%). In the survey, factors that may affect Jordanian mobile phone users' to adopt mobile banking services were examined. The research findings suggested that all the six factors; self-efficacy, trail ability, compatibility, complexity, risk and relative advantage were statistically significant in influencing mobile banking adoption.

MAHMOOD JASIM ALSAMYDAI , SAAD GALIB YASSEN, HUSAM MUSTAFA ALNAIMI3, DIMA MOUSA DAJANI  & IHAB ALI AL-QIREM

A study model has been designed, containing the (motivating and impeding) factors, in addition to intention, attitude, perceived usefulness, and finally the usage of mobile banking. Consequently, the study model is made up of six dimensions with six developed hypotheses one per each corresponding dimension, with the exception of the sixth hypothesis which has been divided into two sub-hypotheses. Six hypotheses were developed based on the dimensions of the study as well as the relevant literature. In addition, a seventh hypothesis was added to measure the correlation between the different constraints of the study model. In order to collect the data required for examining the hypotheses and reaching conclusions, a questionnaire, consisting of (19) questions covering the dimensions and hypothesis of the study was designed. The design and development of this questionnaire were based on an initial pretested survey distributed to a sample consisting of (56) customers of Jordan Banks.

RESEARCH METHODOLOGY

The methodological approach in this study is Applied research and under it exploratory research, because we attempt to identify and explain variables that exist in a given situation and to describe the relationship that exists between these variables in order to provide a picture of a particular phenomenon, but not to ferret out cause-effect relationships. The phenomenon to be studied, mobile banking/wallet, is comparatively new in the field of academic research and thereby study aims at increasing the understanding of the current consumer behaviour pattern in electronic services era. The research data was collected by means of a traditional postal survey.

METHODS OF DATA COLLECTION

The Survey Method has been chosen to carry out the research. The researchers divided the whole work mainly into two parts- secondary research and primary research.  

SECONDARY DATA

In the secondary research, the researcher has made use of the available literature and other relevant publications to find out the theoretical framework and also to know what early research mentioned regarding selected topic. Sources for these data are the company’s websites, journals, publications and articles from industry experts/professionals, previous market reports.

PRIMARY DATA

This data is original in nature and is generated from results of personal interviews. Primary data collection begins with the questionnaire, which limits the extent of data that can gather. Such data facilitate original on the study, through the questionnaire method. Such data also facilitate original investigations and observations, leading to useful and valuable results.

DATA COLLECTION

This study is a research based on survey method. An important aspect of a survey method is to collect data. Relevant data for the project has to be collected in the same manner in order to achieve the set objectives of the study i.e. to identify the relationship between m banking and financial inclusion with special reference to migrant workers

SAMPLE SIZE

The sample consisted of 28 migrant workers from different cities in India. As remittance was a key focus of the study, only those workers who remitted some money to their native place through Bank, M-banking/eWallet were administered the questionnaire. Further, in order to ensure that the sample consists of migrant workers who are more likely to be financially underserved, we had restricted the sample to those with a monthly income of less than INR 20,000. The median number of years at the current location for the respondents was 1 to 9 years.

SAMPLING TECHNIQUE

The sampling procedure used for the study was simple random sampling. A convenience sample of 28 customers was used.

QUESTIONNAIRE DESIGN

The questionnaire has been designed very close to the background of the study that is aimed to know through this survey about consumer behaviour, consumer decision, attitude, behaviour, cost etc.

The same sequence of questions was presented to all interviewees with similar incentive. The structure of questionnaire was based on multiple choice questions so that he or she can select from many alternatives provided to them.

The design of questionnaire used in the survey is related to respondent’s real-life experience. Therefore, respondents select the best answers without any hesitation. Easy and daily use English& Hindi words or vocabulary is used in the survey.

Data Analysis (Descriptive Analysis; & two Statistical Tests)

Table 1 Descriptive Analysis

 Preliminary Analysis

In this section, we discuss the results on the basis of statistical analysis of various financial inclusion measures including the use of various channels by the respondents for remittance, savings and borrowing purposes. We also discuss the level of financial knowledge of the respondents

Financial Inclusion

A majority of the respondents had a bank account at their workplace. All the accounts were in public sector banks. The principal reason for having a bank account by our respondent was opened under the Jan Dhan Yojana (JDY) scheme of the central government that required banks to open bank accounts for the unbanked. Most of the respondents opened their first bank account under the JDY scheme.

Two statistical test that has been used by us in this research:

Two fulfil our two objectives i.e.

• To examine the factors that affect the choice of the consumers in case of mobile banking.
• To understand the consumer’s overall awareness of mobile banking.

We have run two test in SPSS:

1. Chi-square Test
2. Independent sample T-test

Results

The Case Processing Summary tells us what proportion of the observations had non-missing values for both Mobile banking and Monthly income. In this sample, there were no cases that had a missing value for Mobile banking and Monthly income or for both.

Hypothesis 1.  

H0= There is no relationship between monthly income & M banking

H1= There is a relationship between Monthly income the use of M banking

Row variable is Mobile banking and the column] variable is Monthly income, then the column total will tell us what percentage of the individuals who are aware of Mobile banking and not.

So, No.of  respondent count was 28 out of which 7 respondent are unaware of mobile banking and rest are aware through By bank, MNO, & self.

The key result in the Chi-Square Tests table is the Pearson Chi-Square.

• The value of the test statistic is 8.677.

• The footnote for this statistic pertains to the expected cell count assumption (i.e., expected cell counts are all greater than 5): no cells had an expected count less than 5, so this assumption was not met expected count is not less than 5. 
• The corresponding p-value of the test statistic is p = 0.468.

DECISION AND CONCLUSIONS

Since the p-value is greater than our chosen significance level (α = 0.05), we do not reject the null hypothesis. Rather, we conclude that there is not enough evidence to suggest an association between Mobile banking & Monthly income.

Based on the results, we can state the following:

• No association was found between Monthly Income & Mobile Banking.

Group Statistics

Total no. of the sample is 28

Where no. of males is 23

And females are 5

The mean of a male who is not using mobile banking is 3.8261 and female is 3.800

The standard deviation of male 1.30217 whereas the female is 2.68328. So we can say that Female is deviating more as compared to males

Standard error mean is .27152 whereas the female is 1.20000. So, we can say that female is showing more std. error when compared to males.

Hypothesis 2.

H0: There is no meaningful difference between gender and not using mobile banking

H1: There is mean the difference between gender and using mobile banking

Report to finding

• F – value = 3.003

              Sig. =0.95

• T – test = .033

             The degree of freedom = 26

• P – value = .974

INTERPRETATION: - The p-value of Levene's test shows us.974 where it is greater than 0.05 then we will accept the H0.  Hence we can state that there is mean the difference between gender and using mobile banking.

Finding & Conclusion

 On the basis of 28 sample we found that; _

1. We used the Chi-square test then we analyze that there is no relationship between Mobile banking & Monthly income.
2. In t-test (independent sample) is used in which we analyze that there is No mean difference between the 2 sample gender and reason for not using mobile banking.

This current study aims to identify the factors influencing migrant workers use of the mobile banking services by examining several areas related to this subject. For this purpose, a study model was developed consisting of:

• There is no relationship between Gender and reasons for not using mobile banking. Both the variables are independent in nature.
• After analyzing chi-square test, we found there is no relationship between the given variables.

The responses of the study's sample to the questionnaire were not positive as per our expectation as many of the migrant’s worker do not avail the Mobile banking facility services provided by a bank or not aware because most of them do not trust on the mobile bank. they think it is a complex device to deal with it. To the effect of impeding factors on the customers’ non-acceptance of using mobile banking services scored a mean value of (3.8), indicating that impeding factors have a negative effect on the use of mobile banking services.

The results demonstrate that there is considerable scope for the formal financial sector, beginning with banking, to serve the requirements of migrants in India. As with acceleration of economic development and the concomitant rise in urbanization the size of the migrant population will grow over time. Therefore, the segment provides a rapidly growing opportunity for the formal financial sector. As migrants also serve a very useful purpose of equalizing the spatial spread of spending through remittances, by serving the needs of migrants, the formal financial sector would also start spreading their services to the hinterland in the country.

BIBLIOGRAPHY

Lee, J. N., Morduch, J., Ravindran, S., Shonchoy, A. S., & Zaman, H. (2017). Poverty and Migration in the Digital Age: Experimental Evidence on Mobile Banking in Bangladesh.

De Haan, A., & Rogaly, B. (2002). Introduction: Migrant workers and their role in rural change. Journal of Development Studies, 38(5), 1-14.

He, C., & Jin, W. (2007). A Study on Migrant Workers' Permanent Migration Intentions [J]. Sociological Studies, 6, 86-114.

Slade, E. L., Dwivedi, Y. K., Piercy, N. C., & Williams, M. D. (2015). Modelling consumers’ adoption intentions of remote mobile payments in the United Kingdom: extending UTAUT with innovativeness, risk, and trust. Psychology & Marketing, 32(8), 860-873.

Allen, H. (2003). Innovations in retail payments: e-payments.

Khraim, H. S., Al Shoubaki, Y. E., & Khraim, A. S. (2011). Factors affecting Jordanian consumers' adoption of mobile banking services. International Journal of Business and Social Science, 2(20).

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