An Analytical Study of Investment Awareness Level of NRIs in Doaba Region of Punjab

Abstract

Remittances relate to the money that migrants pay back to their home countries. We are sending remittances from more developed countries considerably aids the progress of less developed nations. India will receive $89 billion in remittances in 2021, making it the world's largest recipient. This study was conducted in the Doaba area of the Indian state of Punjab, which accounts for 1.7% of total remittances to India. This research attempts to assess the level of information Non-Resident Indians (NRIs) have about the various investment options available in banks in Punjab, according to their demographic profile. The researcher has endeavored to appreciate the extent to which NRIs are aware of the plethora of investment alternatives offered by banks in the state of Punjab in connection to the demographic profile. In order to collect data on the level of knowledge NRIs have about the various investment options, hypotheses and questionnaires are developed. References Reichert, J. (1981). The migrant syndrome: Seasonal U.S. wage labor and Rural Development in central Mexico. Human Organization, 40(1), 56–66. https://doi.org/10.17730 /humo. 40.1. c61 48p 57 4 3 512768. Kahali, A. (2016). Diaspora engagement: Need for paradigm shift -Indian perspective. Diaspora Studies, 10(1), 1–24. https://doi.org/10.1080/09739572.2016.1239432 Khandagale, D. B. D. (2017). Multiculturalism and Indian Diaspora. Journal of Indian Research, 5(4), 14–19. atra, M. D., & Kapur, M. (2003). India’s Worker Remittances: A Users’ Lament About Balance of Payments Compilation . Sixteenth Meeting of the IMF Committee on Balance of Payments Statistics Washington D.C., 1-5. Global Commission on international migration. International Organization for Migration. (n.d.). Retrieved September 26, 2022, from https://www.iom.int/global-commission-international-migration. Mea | media centre : Publications : Annual reports. (n.d.). Retrieved September 26, 2022, from https://mea.gov.in/annual-reports.htm?57/Annual_Reports National Portal of India. (n.d.). Retrieved September 26, 2022, from https://www.india.gov.in/annual-reports-under-ministry-external-affairs Khandagale, B. D. (2017). Multiculturalism and Indian Diaspora. Journal of Indian Research, 5(4), 14-19. Qureshi, K., & Osella, F. (2015). Punjabi diaspora and educational development. In India Migration Report 2014(pp. 125-138). Routledge India. Ministry of External Affairs. (n.d.). Retrieved September 23, 2022, from https://mea.gov.in/Uploads/PublicationDocs/31719_MEA_AR18_19.pdf. Ministry of External Affairs. (n.d.). Retrieved September 23, 2022, from https://mea.gov.in/Uploads/PublicationDocs/31719_MEA_AR18_19.pdf 01 starting pages - Ministry of External Affairs. (n.d.). Retrieved September 23, 2022, from https://mea.gov.in/Uploads/PublicationDocs/29788_MEA-AR-2017-18-03-02-2018.pdf Reserve Bank of India - RBI Bulletin. (n.d.). Retrieved September 23, 2022, from https://rbi.org.in/scripts/BS_ViewBulletin.aspx/. Villanthenkodath, M. A., & Mahalik, M. K. (2020). Technological Innovation and Environmental Quality Nexus in India: Does inward remittance matter? Journal of Public Affairs, 22(1). https://doi.org/10.1002/pa.2291. Jijin, P., Mishra, A. K., & Nithin, M. (2021). Macroeconomic determinants of remittances to India. Economic Change and Restructuring, 55(2), 1229–1248. https://doi.org/10.1007/s10644-021-09347-3 Dastidar, S. G., & Apergis, N. (2022). Do Remittances Promote Economic Growth? New Evidence from India. Economic Issues Journal Articles, 27(1), 11-37. Mallick, F. (2022). Recent Trends of International Migration from India . INTERNATIONAL JOURNAL OF HUMANITIES, ENGINEERING, SCIENCE AND MANAGEMENT, 3(01). Retrieved from https://journal.rkdfuniversity.org/index.php/ijhesm/article/view/136. Holst, E., Schäfer, A., & Schrooten, M. (2011). Remittances and gender: Theoretical considerations and empirical evidence. SSRN Electronic Journal. https://doi.org/10.2139/ssrn.1750252. Singh, G., & Singh, S. (2007). Diaspora philanthropy in action: An evaluation of modernization in Punjab Villages. JPS, 14(2), 226. Bhat, Chandrashekhar & Narayan, Kadekar. (2010). Indian Diaspora, Globalization and Transnational Networks: The South African Context. J Soc Sci. 25. 13-23. 10.1080/09718923.2010.11892862. Patel, J. (2018). A STUDY ON CONTRIBUTION OF NRIs FOR RURAL DEVELOPMENT. PARIPEX - INDIAN JOURNAL OF RESEARCH, 7(4). Pande, A. (2018). India’s Experience with Remittances: a Critical Analysis. The Round Table, 107(1), 33-43. https://doi.org/10.1080/00358533.2018.1424078