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International Journal for Research Trends and Innovation
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ISSN Approved Journal No: 2456-3315 | Impact factor: 8.14 | ESTD Year: 2016
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Impact Factor : 8.14
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| Paper Title: | Informalisation of Workers in the Formal Sector of Banking in India: An Examination of the Extent, Causes, and Consequences |
| Authors Name: | Mary Ushes James |
| Download E-Certificate: | Download |
| Author Reg. ID: |
IJRTI_200126
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| Published Paper Id: | IJRTI2412059 |
| Published In: | Volume 9 Issue 12, December-2024 |
| DOI: | https://doi.org/10.56975/ijrti.v9i12.200126 |
| Abstract: | Abstract— The formal sector of banking in India has witnessed a significant increase in informalisation of workers in recent years. According to the Reserve Bank of India (RBI), the banking sector in India employs over 2 million people, with the majority of them working in the formal sector (RBI, 2020). However, despite the large number of formal sector jobs, the banking sector has witnessed a significant increase in informalisation of workers in recent years. According to a report by the International Labour Organization (ILO), the proportion of informal workers in the banking sector in India increased from 24.6% in 2004-05 to 43.8% in 2017-18 (ILO, 2018). This represents a significant increase in the proportion of informal workers in the banking sector over the past decade. This study examines the extent, causes, and consequences of informalisation of workers in the formal sector of banking in India. Using secondary data from various sources, including government reports, academic studies, and industry reports, the study finds that informalisation is widespread in the banking sector, with a significant proportion of workers engaged in informal or precarious work arrangements. The study highlights the negative impact of informalisation on workers, including low wages, lack of job security, and limited access to social security benefits. The study concludes that informalisation is a significant issue in the formal sector of banking in India, with far-reaching consequences for workers, the economy, and society as a whole. The study recommends that policymakers and stakeholders take urgent action to address the issues of informalisation and promote decent work in the banking sector. |
| Keywords: | Informalisation, Formal Sector, Banking, India, Precarious Work, Decent Work, Labour Rights, Social Security Benefits. |
| Cite Article: | "Informalisation of Workers in the Formal Sector of Banking in India: An Examination of the Extent, Causes, and Consequences", International Journal for Research Trends and Innovation (www.ijrti.org), ISSN:2455-2631, Vol.9, Issue 12, page no.a548-a550, December-2024, Available :http://www.ijrti.org/papers/IJRTI2412059.pdf |
| Downloads: | 000623 |
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2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016 An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator |
| Publication Details: |
Published Paper ID: IJRTI2412059
Registration ID:200126
Published In: Volume 9 Issue 12, December-2024
DOI (Digital Object Identifier): https://doi.org/10.56975/ijrti.v9i12.200126
Page No: a548-a550 Country: KOCHI, KERALA, India Research Area: Social Science and Humanities Publisher : IJ Publication Published Paper URL : https://www.ijrti.org/viewpaperforall?paper=IJRTI2412059 Published Paper PDF: https://www.ijrti.org/papers/IJRTI2412059 |
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ISSN: 2456-3315
Impact Factor: 8.14 and ISSN APPROVED,
Journal Starting Year (ESTD) : 2016
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