The Hindu Business Line : Banking on NRI money

Kerala's non-resident population has always had a significant impact on its economy. But what makes Thiruvalla unique is its almost complete dependence on foreign money.

On a rainy Sunday afternoon, the streets of Kumbanad, Thiruvalla, look pretty deserted, except for the occasional sound of passing vehicles that breaks the silence. Only a few shops are open. A closer look will reveal some intriguing aspects about the place. For, in this rather modest street, almost every leading bank in the country, including the high-profile private ones, has a branch. The ATMs of at least four banks are present at the junction itself. Add to them, a number of private finance companies too have set up base. And the plush houses on both sides of the road would explain the economic status of those living here.

Over a hundred km from the State capital Thiruvananthapuram, Thiruvalla is one of the oldest municipal towns with a rich tradition, culture and history. The religious convention held annually in the adjacent village of Maramon is one of the biggest gatherings of Christians in Asia. Thiruvalla and the nearby towns such as Kumbanad, Eraviperoor and Kozhencherry are known for their remarkably large chunk of NRI population. "The influence of the non-resident population has always played a crucial role in Kerala's economy. But what makes this area unique is its almost complete dependence on the foreign money," says Dr P.J. Philip, an Economics professor. As Vinu Mathew, a Gulf returnee who is now learning theology, points out, "At least one member in every family is certain to be employed outside India, here."

In these areas, which have a considerable number of Christian population, "most of the people are either below 20 years of age or above 60. If not the Gulf or the US, they would have at least found employment in North India," adds Anitha John. In the Kozhencherry Panchayat alone, for instance, which has 10 wards under its area, around half of its 15,000-strong population live outside India. "Perhaps the churches have been a major influential factor for this trend," says Pastor T.S. Abraham, President of the Indian Pentecostal Church (IPC), which is headquartered in Kumbanad. The IPC is said to have around 300 families under the two churches there. "Those who had contacts with countries like the US, for instance, went there for jobs and missionary activities. Naturally, they helped others close to them too."

"The way their fellowmen, who have found their fortunes abroad live, always seems to be an inspiration for the youngsters here," says Dr Philip. "The insecurity regarding their jobs and money that is synonymous with a Malayalee, may be another reason for this phenomenon," he adds.

Those who are successful in finding jobs abroad take the initiative to help their friends and relatives to find employment there. Though there have been tough times like the Gulf War and the recession, the people of this locality have always succeeded in going abroad. "The people in our area seem to be used to a life outside the comfort of their homes. They study staying in the hostels and usually dream of working abroad," says Pr Varghese Mathew. Most of the mansions that the NRIs build with their money remain closed or shelter their parents, until they decide to come back to their roots, much later.

"Those who have been abroad, and even their dependants here, have always been maintaining comparatively different living standards and views," says Pr Abraham. The old-aged men and women in the area have virtually everything that money can buy, for themselves. Almost every household boasts a telephone with an ISD facility. Some of the parents are also tech savvy and communicate with their children via latest gizmos such as Web cams.

Hospitals, both big and small, are found on every street corner. Five years ago, the Fellowship Hospital in Kumbanad started `Mobile Health Service', the benefits of which have been lapped up by around 150 persons. Besides the routine visit to every member's households once a month, round-the-clock medical service, especially in the event of an emergency, is available.

Dr John George, of the mobile health service unit, says that the decision to start a service of this kind was taken after thorough research. Of the 10,080 people surveyed, 1,551 were found to be above the age of 60, whose children were working abroad. "For such people who live alone, our service has really been helpful and we've had a tremendous response from the people," says Dr George.

Mobile mortuaries, which are by now a common facility across Kerala, were well known in this area, much earlier. The advantage of such a service is that relatives of the departed, who are residing abroad, can come down and say their final goodbyes.

Now for the million-dollar question: How do the NRIs invest their money here? "The situation in the State is not very conducive to business," says A.J. Abraham, an elderly person whose children work abroad. "Naturally fixed deposits are the popular options."

"The investments of those who have gone abroad are generally limited to the huge houses they build and hefty bank balances they maintain," says Vinu. "The number of branches of the major banks that are coming up in these areas is ample proof of this," he smiles.

Adds M.M George, a retired school teacher, "The significant fact is that even the not-so-qualified, who would never dream of securing a job in the State, can find some work or the other in the Gulf, and this has been the norm here for many years."

If the young have flown out of the nest, how do the aging parents spend their time? Well, at Thiruvalla, the older generation are actively involved in religious activities. And events such as the kudumba yogam (family meeting) are a sort of home-coming for the children abroad, who, during this time, make it a point to be with their loved ones. Naturally, many feel such gatherings have turned out to be prestigious occasions where everyone's affluence is marked by the display of wealth.

Post the pomp and splendour of getting together, life is back to normal — empty walls and solitude. "We are used to living alone by now," says Mariamma George, in her 60s, trying to conceal her sadness. Like most of the senior citizens in the area, her children too work abroad. She and her husband, aged over 70 years, live in an imposing bungalow. "They (the children) sweat it out there for us too. So, we will never complain."

The Quest Features & Footage, Kochi

Picture by K.K. Mustafah

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