Internal migration: Oriyas in Gujarat - The Economic Times

Through correspondents in Orissa they deliver remittances (which constitute as much as half of total earnings) to recipients back home within six to 48 hours, at a much lower effective cost than that the 5% charged by the post office on money orders (which can take two weeks). Bank drafts are much cheaper than money orders, and were indeed the preferred option, until the private operators emerged to obviate the need to open a bank account or lose precious earning time queuing up and doing all the paper work.

With the advent of these private operators the formal sectors’ share of the remittance market has shrunk to 10%. Other informal financial institutions that have proliferated are bishis (chit funds) and “committees” (informal credit unions) to cater to savings and credit needs. (via Internal migration: Oriyas in Gujarat- Comments & Analysis-Opinion-The Economic Times).

Western models and colonial mindset

This is where RBI, the IAS and the rest of the Westernized janata miss out on India. Desperate to 'modernize' and 'progress' on Western models, we miss out on Indian business models which are more cost effective and require less bureaucracy. RBI has (more than the British could) ground the traditional Indian finance sector into obscurity - by blocking access, creating entry and finally procedural barriers.

What India needs are solutions that Indians need for our requirements - and not what some 'vested' interests (read as Western nationals /educated) sahibs (Brown or White), who are more keen to preserve their status and power rather than do their job.

What needs to be done is the end of state support for English language higher education. This precisely what Indian power elites do not want to end, as it prepares them and gives tickets for opportunities in the West.