Search results for: Indian banking

Authors: Farid Fahami

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This article explores the transformative role of technology in the finance, banking, and insurance sectors. It examines key technological trends such as AI, blockchain, data analytics, and digital platforms and their impact on operations, customer experiences, and business models. The article highlights the benefits of technology adoption, including improved efficiency, cost reduction, enhanced customer experiences, and expanded financial inclusion. It also addresses challenges like cybersecurity, data privacy, and the need for upskilling. Real-world case studies demonstrate successful technology integration, and recommendations for stakeholders emphasize embracing innovation and collaboration. The article concludes by emphasizing the importance of technology in shaping the future of these sectors.

Keywords: banking, finance, insurance, technology

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Authors: Shaimaa Alobaidi

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The presentation examines how urbanization opens possibilities for American Indian characters like Zits in Alexie’s Flightto explore new definitionsoftheirtribal self-identification. Zits travels in time and views the world from different bodies, ages, and races; his journeys end with different perspectives on the idea of nationhood as an American Indian. He is an example of Vine Deloria’s statementthat “urban Indians have become the cutting edge of the new Indian nationalism” (248). Flight is chosen because the momentZits leaves the real world for time-traveling adventures is very critical; it is a moment of rage that ends in the mass murder of many Anglo-Americans. The paper focus on the turning point when he returns into his body with new opportunities towards his existence among the majority of anglo-Americans who cannot help but see him American Indian minority in need of help and assistance. Characters, such as Zits, attempt to outlive alienation, and Alexie gives new definitionsof their ethnic nationhood. Futuristicdoes not mean the very far unpredictable future; it is rather a nearpotential future for teenagers of American Indians, like Zits, Arnold, andCoyoteSprings- the band in ReservationBlues; all revolutionary personalitiesin Alexie’s works. They will be analyzed as Gerald Vizenor’s “postindianwarriors” who have the ability to identify Indigenous nationalism in a post-colonial context.

Keywords: alienation, self-identification, nationhood, urbanization, postindian

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Authors: Meenakshi Chaubey

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A principle proposed in the cross-cultural adaption of behavior among Indian and Tibetan societies in which there are not any great variations between their young adults on the mindset of day-to-day marriage, Marriage plays a dominant position in constructing the society, which in large part comprises underneath the domain of lifestyle. Way of life is a social behavior and norm located in human societies where an extensive range of phenomena can be transmitted thru social studying. It acts characteristic of the individual has been the diploma day-to-day which they have got cultivated a specific stage of class in arts, science, architecture. The existing studies preliminarily on young adults of each community, wherein we carried out a comparative observe of the mindset of daily marriage among Indian and Tibetan teens. Further, we studied statistics comprehensively on the mindset closer day by day the marriage between Indian adult males and Tibetan younger males. With the extension of a complete look, we considered the mindset of an everyday marriage of Indian girls and Tibetan young ladies. Studies 1 showed that there might be no sizable distinction within the attitude of the day-to-day marriage of Indian and Tibetan teenagers. It, in addition, showed that they followed each different marriage beliefs and customs. Studies 2 showed that there might be no important difference in the attitude toward the everyday marriage of Indian and Tibetan young males. It similarly showcased that day-to-day secular schooling gadget in Tibetan society complements their clinical approach and changes their point of view on distinct social issues along with marriage. Research three confirmed that there is no substantial difference in the mindset of the daily marriage of Indian and Tibetan younger females. It similarly spread out the strict authorities' recommendations that they may no longer be allowed day-to-day comply with their marriage practices, including polygamy and polyandry. Thus, the information showed that there's a shift of lifestyle from one network every day to some other community because of social every day, which affects the conduct and results of daily past cultural adaptation.

Keywords: culture, marriage, attitude, society, young adults, Indian, Tibetan

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Authors: B. Ashraf, A. M. Malik

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The study was accomplished at the Department of Economics and Agriculture Economics, Pir Mahar Ali Shah ARID Agriculture University, Punjab, Pakistan during 2013-16 with a purpose to discover the effect of Islamic finance/banking on employment in Punjab, Pakistan. Islamic banking system is sub-component of conventional banking system in various countries of the world; however, in Pakistan, it has been established as a separate Islamic banking system. The Islamic banking operates under the doctrine of Shariah. It is claimed that the referred banking is free of interest (Riba) and addresses the philosophy and basic values of Islam in finance that reduces the factors of uncertainty, risk and others speculative activities. Two Islamic bank’s; Meezan Bank Limited (Pakistan) and Al-Baraka Bank Limited (Pakistan) from North Punjab (Bahawalnagar) and central Punjab (Lahore) west Punjab (Gujrat), Pakistan were randomly selected for the conduct of research. A total of 206 samples were collected from the define areas and banks through questionnaire. The data was analyzed by using the Statistical Package for Social Sciences (SPSS) version 21.0. Multiple linear regressions were applied to prove the hypothesis. The results revealed that the assets formation had significant positive; whereas, the technology, length of business (experience) and bossiness size had significant negative impact with employment generation in Islamic finance/banking in Punjab, Pakistan. This concludes that the employment opportunities may be created in the country by extending the finance to business/firms to start new business and increase the Public awareness by the Islamic banks through intensive publicity. However; Islamic financial institutions may be encouraged by Government as it enhances the employment in the country.

Keywords: assets formation, borrowers, employment generation, Islamic banks, Islamic finance

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Authors: Bhavna Negi

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Several studies highlight the significance of media in constructing realities around us. According to Forbes magazine the demand of televisions has increased several times in the developing nations. A recent survey reveals that 112 million Indian households have a television, with 61 percent accessing cable. The space and visibility of television has enormously grown over the last decade in Indian homes. This small box has indeed taken a large place in their daily routines. The multi channel viewing and TRPs puzzle the Indian audience. This medium creates and constructs social images and roles which form internal representation about societal functioing. According to National Council of Applied Economic Research about twenty seven percent Indian literate youth watches TV for recreation. The present study finds about the role of television and its impact on young college going women with reference to family based serials shown on television. It is interesting to see how young women perceive the popular family soaps and define norms, roles and spaces for a woman and a man. The paper further examines the subtle messages given to young women through television serials. It draws insights into the relationship between the contemporary Indian women and the images conceptualized and communicated on television.

Keywords: media, women, gender, social roles

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Authors: Somnath Mukhuti, Prem Kumar Ghosh

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Background and significance of the study Indian stock market has undergone sudden changes after the current China crisis in terms of turnover, market capitalization, share prices, etc. The average returns on equity investment in both markets have more than three and half times after global financial crisis owing to the development of industrial activity, corporate sectors development, enhancement in global consumption, change of global financial association and fewer imports from developed countries. But the economic policies of both the economies are far different, that is to say, where Indian economy maintaining a conservative policy, Chinese economy maintaining an aggressive policy. Besides this, Chinese economy recently lowering its currency for increasing mysterious growth but Indian does not. But on August 24, 2015 Indian stock market and world stock markets were fall down due to the reason of Chinese stock market. Keeping in view of the above, this study seeks to examine the influence of Chinese stock on Indian stock market. Methodology This research work is based on daily time series data obtained from yahoo finance database between 2009 (April 1) to 2015 (September 28). This study is based on two important stock markets, that is, Indian stock market (Bombay Stock Exchange) and Chinese stock market (Shanghai Stock Exchange). In the course of analysis, the daily raw data were converted into natural logarithm for minimizing the problem of heteroskedasticity. While tackling the issue, correlation statistics, ADF and PP unit root test, bivariate cointegration test and causality test were used. Major findings Correlation statistics show that both stock markets are associated positively. Both ADF and PP unit root test results demonstrate that the time series data were not normal and were not stationary at level however stationary at 1st difference. The bivariate cointegration test results indicate that the Indian stock market was associated with Chinese stock market in the long-run. The Granger causality test illustrates there was a unidirectional causality between Indian stock market and Chinese stock market. Concluding statement The empirical results recommend that India’s stock market was not very much dependent on Chinese stock market because of Indian economic conservative policies. Nevertheless, Indian stock market might be sturdy if Indian economic policies are changed slightly and if increases the portfolio investment with Chinese economy. Indian economy might be a third largest economy in 2030 if India increases its portfolio investment and trade relations with both Chinese economy and US economy.

Keywords: Indian stock market, China stock market, bivariate cointegration, causality test

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Authors: Aniruddha Hore, Saptarshi Mitra, Sandip Ghosh, Sujoy Bose, Avijit Ghosh

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The Indian rupee is the official currency of India. With time, science and technology got advanced, and our society is slowly making its way to a cashless mode of transaction. But as India is still a developing country, a large part of our society still depends on transaction through cash. During times of pandemics, we came to understand that everything that we touch is not safe from microbial contamination. The Indian currency is also not an exception. The Indian currency is the modern-day medium of harmful bacterial as well as other microbial contaminations resulting in diseases in human bodies. Therefore, the need came to make the currency disinfectant to give our people a healthier lifestyle. The main focus of the study is to develop a solution that, when applied to the currency notes, will kill the persisting bacteria or microbes present in the notes. So various natural edible products were used in order to prepare the solution, which is highly effective against the presence of harmful bacteria such as E. coli and S. aureus. The antibacterial activity of these natural ingredients is not unknown to us, so extracts from those products were mixed together to form a solution which was made the Indian currency notes antibacterial for 20min approx. The solution was creating a layer on the surface of currency notes, therefore, making it antibacterial for a given duration of time, i.e., no bacterial growth was seen during the time period of 20 minutes, therefore, making it safe for the usage of human hands.

Keywords: Indian currency, antibacterial property of Indian currency, surface coating, currency disinfectant

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Authors: Muhammad Abdullahi Mago

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Islamic Banking began in Nigeria last three years and the sector has shown the sign of bright future for the sector and the Nigerian economy, within this very short time it is important to know the perception of the customers particularly learned or educated individuals for immediate evaluation and adjustment. This study investigates into the perception, awareness and attitudes of the academicians in the most populous state/place in Nigeria with more than 90% muslims, and the results has shown a relatively low levels results in all the variables of the study.The study recommends aggressive marketing strategy for the Banks operating within the sector.

Keywords: Islamic Banking Products, Islamic Financial Products, academicians, Islamic finance industry, perception, awareness and attitude

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Authors: Nahid Ehsani, Amir Hossein Rezvanfar

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The main objective of this study is to investigate psychological and socio-cultural factors effective on the tendency of the villagers to use e-banking services. The current paper is an applied study considering its objectives. The main data gathering tool in the current study is a made questionnaire which is designed and executed based on the conceptual background of the subject matter and the objectives and hypotheses of the study. The statistical population of this study includes all the customers of rural branches of Agricultural Bank in Ilam Province (N=82885). Among these 120 participants were chosen through sample size determination formula and they were studied using stratified random sampling method. In the analytical statistics level the results obtained from calculating Spearman’s Correlative Coefficient showed that socio-cultural and psychological factors had a significant impact of the extent of the tendency of the villagers to use e-banking services of the Agricultural Bank at the 99% level. Furthermore, stepwise multiple regression analysis showed that both sets of psychological factors as well as socio-economic factors were able to explain 50 percent of the variance of the independent variable; namely the tendency of villagers to use e-banking services.

Keywords: e-banking, agricultural bank, tendency, socio-economic factors, psychological factors

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Authors: Cupian

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The expansion of Islamic banking industry seems to emphasize the banking competition in Indonesia where conventional and Islamic banks coexist. In addition, the 2007/2008 global financial crisis and deregulation have the effect on competitive conditions in Islamic banking market. In this context, this study aims at investigating competitive conditions and market power of Islamic banks in Indonesia using firm level data over the period 2006-2013. The study also attempts to identify the factors that represent the power of banking market to better study the degree of competition in this banking industry. Using samples of 27 Islamic commercial banks, the study uses a variety of structural and non-structural measures related to the traditional approach and the new empirical approach of the industrial organization (NEIO). The methodology is based on the set of measures of the competition and market power. The first measure is a set of concentration ratios (CR4) and Herfindahl-Hirschman index (HHI).The second measures are the Panzar and Ross H-statistic and the Lerner index based on econometric estimations with the aim of evaluating the market structure and measuring its power in terms of price setting. The results of the competition analysis suggest that the Islamic banking markets in Indonesia cannot be characterized by the bipolar cases of either perfect competition or monopoly over 2006-2013. That is, banks earned their revenues operating under conditions of monopolistic competition in that period. Overall, Islamic banks in Indonesia operate in a relatively less competitive environment or in high market power. It is also indicated that Islamic bank that hope to achieve higher returns should operate in the competitive environment.

Keywords: bank competition, islamic banks, market structure, profitability

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Authors: Hatim Elhag

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Banking and Financial Service Institutions are possibly the most advanced in terms of technology adoption and use it as a key differentiator. With high levels of business process automation, maturity in the functional portfolio, straight through processing and proven technology outsourcing benefits, Banking sector stand to benefit significantly from Cloud computing capabilities. Additionally, with complex Compliance and Regulatory policies, combined with expansive products and geography coverage, the business impact is even greater. While the benefits are exponential, there are also significant challenges in adopting this model– including Legal, Security, Performance, Reliability, Transformation complexity, Operating control and Governance and most importantly proof for the promised cost benefits. However, new architecture designed should be implemented to align this approach.

Keywords: security, cloud, banking sector, cloud computing

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Authors: Marwen Ghouil, Jamel Eddine Mkadmi

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Banking performance is the pillar and goal of all banking activity and its impact on economic policy. First, researchers defined the principles for assessing and modeling bank performance, and then theories and models explaining bank performance were developed. The importance of credit as a means of financing businesses in most developing countries has led to questions about the effects of financial liberalisation on increased banking competition. In Tunisia, as in many other countries, the liberalization of financial services in general and of banks' activities has not ceased to evolve. The objective of this paper is to examine the determinants of banking performance for 8 Tunisian banks and their impact on economic policy during the Arab Spring. We used cointegration analysis and the ARDL Panel model, explaining using total assets, bank credits, guarantees, and bank size as performance drivers. The correlation analysis shows that there is a positive correlation relationship between total assets, bank credits, guarantees, and bank size and bank performance. Long-term empirical results show that bank loans, guarantees, bank size, and total assets have a positive and significant impact on bank performance. This means that bank credits, guarantees, bank size, and total assets are very important determinants of bank performance in Tunisia.

Keywords: bank performance, economic policy, finance, economic

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Authors: Bambang Novianto, Rizal Aditya Herdianto, Raphael Bianco Huwae, Afifah, Alfonso Brolin Sihite, Rudi Lumanto

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The mobile banking application is a type of mobile application that is growing rapidly. This is caused by the ease of service and time savings in making transactions. On the other hand, this certainly provides a challenge in security issues. The use of mobile banking can not be separated from cyberattacks that may occur which can result the theft of sensitive information or financial loss. The financial loss and the theft of sensitive information is the most avoided thing because besides harming the user, it can also cause a loss of customer trust in a bank. Cyberattacks that are often carried out against mobile applications are phishing, hacking, theft, misuse of data, etc. Cyberattack can occur when a vulnerability is successfully exploited. OWASP mobile Top 10 has recorded as many as 10 vulnerabilities that are most commonly found in mobile applications. In the others, android permissions also have the potential to cause vulnerabilities. Therefore, an overview of the profile of the mobile banking application becomes an urgency that needs to be known. So that it is expected to be a consideration of the parties involved for improving security. In this study, an experiment has been conducted to capture the profile of the mobile banking applications in Indonesia based on android permission and OWASP mobile top 10 2016. The results show that there are six basic vulnerabilities based on OWASP Mobile Top 10 that are most commonly found in mobile banking applications in Indonesia, i.e. M1:Improper Platform Usage, M2:Insecure Data Storage, M3:Insecure Communication, M5:Insufficient Cryptography, M7:Client Code Quality, and M9:Reverse Engineering. The most permitted android permissions are the internet, status network access, and telephone read status.

Keywords: mobile banking application, OWASP mobile top 10 2016, android permission, sensitive information, financial loss

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Authors: Vimi Jham

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The banking sector has undergone tremendous change in all forms of service it provides to its customers. The efforts of the banks is to avoid customer defection and lead to customer satisfaction. The purpose of the study was to examine the linkages among the constructs such as customer perceived service quality, perceived service recovery quality and customer satisfaction in the banking industry. The moderating effect of negative brand perception due to service failure on recovery satisfaction were investigated. Random sampling methods are used to draw the sample from the population. Data was collected from 262 banking customers and were analyzed with the help of structural equation modelling approach using Smart PLS to understand the relationship among variables being studied. The results of the study contribute to the research by proving that customer service recovery satisfaction is dependent on customer perceived service quality and the moderating effect of negative brand perception due to service failure was insignificant.

Keywords: service recovery satisfaction, perceived service recovery quality, perceived service quality, structural equation modelling

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Authors: Seema Sharma Kaushik, Dhananjoy Shaw

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Various length dimensions of the body have been a variable of interest in the research areas of kinanthropometry. However the inclusion of length measurements in various studies remains restricted to reflect characteristics of a particular game/sport at a particular time. Hence, the present investigation was conducted to study various length dimensions correlates of a longitudinal physical conditioning program on Indian male youth. The study was conducted on 90 Indian male youth. The sample was equally divided into three groups namely, progressive load training (PLT), constant load training (CLT) and no load training (NL). The variables included sitting height, leg length, arm length and foot length. The study was conducted by adopting the multi group repeated measure design. Three different groups were measured four times after completion of each of the three meso-cycles of six-weeks duration each. The measurements were taken using the standard landmarks and procedures. Mean, standard deviation and analysis of co-variance were computed to analyze the data statistically. The post-hoc analysis was conducted for the significant F-ratios at 0.05 level. The study concluded that the followed longitudinal physical conditioning program had significant effect on various length dimensions of Indian male youth.

Keywords: Indian male youth, longitudinal, length dimensions, physical conditioning

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Authors: Antarjeeta Nayak, Jalandhar Pradhan, Ramakrishna Biswal

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Poverty is a complex phenomenon influenced by a large number of factors and which can be studied from many different perspectives. Most of the poverty assessments can be divided into three broad categories- construction of poverty profile (who the poor are), causes of poverty (why people are poor) and poverty alleviation strategies (what to do about poverty). In this regard, we need to know more about poverty, the factors that drive it and those that maintain it. Specifically, how people perceive and experience poverty will generate a body of knowledge that would enable government and poverty alleviation agencies to better target their interventions and understand the stigma associated with poverty. In the Indian context, the perceptions of the causes of poverty are particularly relevant because of the persistent higher percent of people below poverty line and wider economic-social inequalities despite the continuing decline of poverty in the present times. In this study we investigated the perceived attributions for poverty among youths (University students) in India. A questionnaire having 35 questions was administered to a sample of 200 University students (n=200). Findings showed that Indian youth were more inclined to attribute poverty to Structural factors; supporting system-blame hypothesis.

Keywords: poverty, perception of the causes of poverty, Indian youth, social sciences and humanities

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Authors: Md. Nakib Ul Hasan, Md. Ariful Islam, Md. Sumon Miah, Misbah Ul Hoque, Bulbul Ahmed

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The variability of cotton fiber characteristics has always been influenced by origin, weather conditions, method of culturing, and harvesting. Spinners work tirelessly to ensure consistent yarn quality by using the different origins of fibers to maximizes the profit margin. Spinners often fail to select desired raw materials of various origins to achieve an appropriate mixing plan due to the lack of knowledge on the interrelationship among fiber properties. The purpose of this research is to investigate the correlations among dominating fiber properties such as micronaire, strength, breaking elongation, upper half mean length, length uniformity index, short fiber index, maturity, reflectance, and yellowness. For this purpose, fiber samples from 500 Indian cotton bales and 350 Greek cotton bales were collected and tested using the high volume instrument (HVI). The fiber properties dataset was then compiled and analyzed using python 3.7 to determine the correlations matrix. Results show that Indian cotton fiber have highest correlation between strength-mat = 0.84, followed by SFI-Unf =-0.83, and Neps-Unf = -0.72. Greek cotton fiber, in contrast, have highest correlation between SFI-Unf =-0.98, followed by SFI-Mat = 0.89, +b-Len = 0.84, and Str-Mat = 0.74. Overall, the Greek cotton fiber showed a higher correlational matrix than compared to that of Indian cotton fiber.

Keywords: cotton fiber, fiber properties correlation, Greek cotton, HVI, Indian cotton, spinning

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Authors: Rahmoune Abdelhaq

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Systemic risk is a key concern for central banks charged with safeguarding overall financial stability. In this work, we investigate how systemic risk is affected by the structure of the financial system. We construct banking systems that are composed of a number of banks that are connected by interbank linkages. We then vary the key parameters that define the structure of the financial system — including its level of capitalization, the degree to which banks are connected, the size of interbank exposures and the degree of concentration of the system — and analyses the influence of these parameters on the likelihood of contagious (knock-on) defaults. First, we find that the better-capitalized banks are, the more resilient is the banking system against contagious defaults and this effect is non-linear. Second, the effect of the degree of connectivity is non-monotonic, that is, initially a small increase in connectivity increases the contagion effect; but after a certain threshold value, connectivity improves the ability of a banking system to absorb shocks. Third, the size of interbank liabilities tends to increase the risk of knock-on default, even if banks hold capital against such exposures. Fourth, more concentrated banking systems are shown to be prone to larger systemic risk, all else equal. In an extension to the main analysis, we study how liquidity effects interact with banking structure to produce a greater chance of systemic breakdown. We finally consider how the risk of contagion might depend on the degree of asymmetry (tier) inherent in the structure of the banking system. A number of our results have important implications for public policy, which this paper also draws out. This paper also discusses why bank risk management is needed to get the optimal one.

Keywords: financial stability, contagion, liquidity risk, optimal risk

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Authors: Sujoy Anirudha Das, Albert Thomas

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Building sector is a major consumer of energy globally, and it has corresponding effects to the environment with respect to the carbon emissions. Given the fact that India is expected to add 40-billion square meter of new buildings till 2050, we need frameworks that help in reducing the overall energy consumption in the building sector. Even though several simulation-based frameworks that help in analyzing the building energy consumption are developed globally, in the Indian context, to the best of our knowledge, there is a lack of a comprehensive, yet user-friendly framework to simulate and optimize the effects of various energy influencing factors, specifically for Indian buildings. Therefore, this study is aimed at developing a simulation-based optimization framework to model the energy interactions in different types of Indian buildings by considering the dynamic nature of various energy influencing factors. This comprehensive framework can be used by various building stakeholders to test the energy effects of different factors such as, but not limited to, the various building materials, the orientation, the weather fluctuations, occupancy changes and the type of the building (e.g., office, residential). The results from the case study involving several building types would help us in gaining insights to build new energy-efficient buildings as well as retrofit the existing structures in a more convenient way to consume less energy, exclusively for an Indian scenario.

Keywords: building energy consumption, building energy simulations, energy efficient buildings, optimization framework

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Authors: Sudip Kumar Kundu, Charu Singh

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The climatic condition over Indian region is highly dependent on monsoon. India receives maximum amount of rainfall during southwest monsoon. Indian economy is highly dependent on agriculture. The presence of flood and drought years influenced the total cultivation system as well as the economy of the country as Indian agricultural systems is still highly dependent on the monsoon rainfall. The present study has been planned to investigate the flood and drought years for the north-west Himalayan region from 1951 to 2014 by using area average Indian Meteorological Department (IMD) rainfall data. For this investigation the Normalized index (NI) has been utilized to find out whether the particular year is drought or flood. The data have been extracted for the north-west Himalayan (NWH) region states namely Uttarakhand (UK), Himachal Pradesh (HP) and Jammu and Kashmir (J&K) to find out the rainy season average rainfall for each year, climatological mean and the standard deviation. After calculation it has been plotted by the diagrams (or graphs) to show the results- some of the years associated with drought years, some are flood years and rest are neutral. The flood and drought years can also relate with the large-scale phenomena El-Nino and La-Lina.

Keywords: IMD, rainfall, normalized index, flood, drought, NWH

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Authors: Ameen Alshugaa, Farrukh Habib

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Shariah (the Islamic law) sanctions a plethora of profit-sharing arrangements for financial transactions. However, when it comes to the practice of Islamic banking, it is felt by the scholars and practitioners that many of these arrangements often fail to compensate different parties of a financial transaction compared to conventional banking, due to the Riba (interest / usury) element. This issue is caused by the parties inability to codify these compensations in any contract so as to avoid Riba. Here, hibah (gift) may be regarded as one of the solutions. In essence, hibah is a unilateral charity contract where a party voluntarily gives away something to another party without any counter value. This paper attempts to analyse theoretical and practical aspects of hibah from the perspective of Islamic law, enunciating its legality and detailing its allowance in Islamic banking. It also discusses several practices evaluating the role of hibah in resolving issues related to Riba. In particular, these practices demonstrate the validity of hibah as a way to distribute revenues and compensate parties in Islamic financial transactions, while achieving competitive advantage over conventional banking, and avoiding the element of Riba.

Keywords: hibah (gift), Islamic Finance, Islamic Law of Contract, profit distribution, Shariah

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Authors: Preeti Yadav, Dandeswar Bisoyi, Debkumar Chakrabarti

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Mascots provide memories to viewers, and numerous promotional campaigns with different appearances, continue to trigger viewers and capture their interest. This study investigates the effect of Indian food mascot designs and influence on enhancing communication; thereby, building long-term brand recognition by the consumers. This paper presents a descriptive approach to Indian food mascot design as an advertising tool, and its research adopts a quantitative methodology. The study confirms that mascots have an ability to communicate a message in an effective manner; all though they are simple in terms of design and fashion trend, they have the capability to build positive reactions.

Keywords: food mascot, brand recognitions, advertising, humour

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Authors: Abdul Kader

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This paper attempts to investigate several contributory factors to recent volatility in the Islamic Banking sector of Bangladesh. In particular, the study explores corporate governance, credit management, credit regulations, inept board of directors, using religious sentiment as a means to deceive general people, and the degree of political interference as potential contributory factors. To find the correlation among different variables, semi-structured questionnaires were distributed among the clients, bank managers, some Banking scholars and ex-members of the board of directors of three Islamic Banks in Bangladesh. Later, ten interviews were collected from key informants to gain in-depth information about the present mismanagement of Islamic Banks in Bangladesh. After then, data were analyzed using statistical software and substantiated by secondary sources like newspapers, reports and investigative reports aired in screen media. The paper found a correlation between almost all contributory factors and recent unstable conditions in the Islamic banking sector. After performing regression analysis, this paper found a more significant relationship between some of the contributory factors with Banking volatility than others. For instance, credit management, inept board of directors, depriving customers of proving no profit in the name of business—no interest-- and political interference have a strong significant positive correlation with the present poor condition of Islamic Banking. This paper concludes that while internal management is important in recovering the losses, the government needs to ensure framing better policy for the Islamic Banking system, Central Bank needs to supervise and monitor all Islamic banks meticulously and loan receivers must go through the impartial evaluation and approved by the representatives of the Central Shariah Board. This paper also recommends that there is a need to strengthen the auditing system and improve regulatory oversight of the Islamic Banks in Bangladesh. Policy recommendations that this paper put forward could provide an outline for dealing with the existing challenging condition of Islamic Banks and these could be applied to similar problems in other countries where the Islamic Banking model exists.

Keywords: Islamic bank, volatility in banking sector, shariah law, credit management, political interference

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Authors: Muhammad Rifqi Hafizhudin Arif, Mukhamad Zulfal Faradis, Ahmad Hidayatullah

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Indonesia is the country that uses conventional financial system adopted from European countries as a form of finance in the national banking system. Many of the derivative products of conventional banks either investment, buy and sell, saving and loan, which is not in accordance with Islamic Ethics. While the majority population in Indonesia are belief in Islam, which Islam has had financial management guide is written in the Quran, the Hadith, as well as the opinions of experts who strongly prohibits the use of interest in each transaction activities. Many different expert opinions on the application of the Islamic financial system in Indonesia. However, as the majority of the population of Indonesia, Islamic community have not been able to get the opportunities to choose the Islamic financial system that has mutual benefit between consumers and banks, particularly fairness in transactions, ethical investment, uphold the values of solidarity and brotherhood in every transaction activities, and avoid speculation. In this paper, we will discuss the reasons for the importance of providing an option for Islamic community as the majority of the population of Indonesia to use the banking system which adopted the Islamic ethical values that have been much discussed by other researchers in various countries. The existence of this research is expected to Government, academia and the general public aware of the urgency of Islamic economic system implementation in Indonesian banking as the solution and justice especially for the Islamic community to use the values which they held.

Keywords: Islamic economic system, conventional system, Islamic value, banking

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Authors: Shraddha Mahore Manjrekar

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Culture has been an integral part of the civilizations in the world. Architectural works, in the material form of buildings, are often perceived as cultural symbols and as works of art. Historical civilizations are often identified with their surviving architectural achievements. Author has observed and thought about the relation of Indian traditional cultural beliefs and their relation to the sustainable environment. There are some unwritten norms regarding the use of resources and the environment in Indian continent, that have been commonly accepted by the people for building houses and settlements since the Vedic period . The research has been done on the chanting and prayers done in a number of houses and temples in Madhya Pradesh and Maharashtra. After doing some research, it was also found that resource assessment had also been done for the entire country, and an idea of conservation of these resources was imbibed in the common people by means of some traditions, customs and beliefs. The sensitization and gratefulness about natural resources have been observed in the major beliefs and customs. This paper describes few of such beliefs and customs that are directly linked with the built environment and landscape.

Keywords: Indian culture, sacred groves, sustainability in built environment, sustainability practices

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Authors: Saumyaranjan Sahoo, Sudhir Yadav

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Indian manufacturing firms operating in rapidly changing and highly competitive market, over the last few decades, have embraced organization-wide transformation to achieve cultural and operational excellence. In recent years, numerous approaches have been proposed to improve business and manufacturing performance. Lean practices in particular, Total Productive Management (TPM) and Total Quality Management (TQM) have received considerable attention, as they being adopted and adapted for raising the performance standard of Indian manufacturing firms to world class levels. The complementary nature of TPM and TQM is being practiced in many companies to achieve synergy. Specifically, this research investigates whether joint TPM-TQM implementation contribute to higher business performance when compared to individual implementation. Data from 160 manufacturing firms were analyzed that demonstrate synergetic implementation of both TPM-TQM practices over a reasonable period of time, contributed in delivering better business performance as compared to individual implementation strategy.

Keywords: total productive management, total quality management, Indian manufacturing firms, business performance

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Authors: Swapnil Vidhate, Anupama Sharma

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At present the world is experiencing an extraordinary rate of urbanization. India is also in a major phase of urbanization. Gentrification is being practiced in India much later compared to western countries as a strategy for urban renewal. The urban fabric in Indian context is composed of multiple layers in it. Thus, the process of gentrification has different typologies, views and impacts in Indian context. It is a curative concept to restructure the declined areas of the city. But it has more negative views compared to positive due to the concerns in the process in India. The paper brings out the impacts of gentrification and concerns related with the process in Indian context with a case example of core city.

Keywords: urbanization, urban renewal, gentrification, restructure, core city

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Authors: Dlir Abdullah Ahmed

Abstract:

Overall aims of this study are to investigate the effects of differences of opinions among Shari’ah supervisory bodies on standardization and internationalization of Islamic banking products and services. The study has used semi-structured in-depth interview where five respondents from both the Middle East and Malaysia Shari’ah advisors participated in the interview sessions. The data were analyzed by both manual and software techniques. The findings reveal that indeed there are differences of opinions among Shari’ah advisors in different jurisdictions. These differences are due to differences in educational background, schools of thoughts, environment in which they operate, and legal requirements. Moreover, the findings also reveal that these differences in opinions among Shari’ah bodies create confusions among public and bankers, and negatively affect standardization of Islamic banking transactions. In addition, the study has explored the possibility to develop Islamic-based products. However, the finding shows that it is difficult for the industry to have Islamic-based products due to high competition from conventional counterpart, legal constraints and moral hazard. Furthermore, the findings indicate that lack of political will and unity, lack of technology are the main constraints to internationalization of Islamic banking products. Last but not least, the study found that there are possibility of convergence of opinions, standardization of Islamic banking products and services if there are unified international Shari’ah h advisory council, international basic requirements for Islamic Shari’ah h advisors, and increase training and educations of Islamic bankers. This study has several implications to the bankers, policymakers and researchers. The policymakers should be able to resolve their political differences and set up unified international advisory council and international research and development center. The bankers should increase training and educations of the workforce as well improve on their banking infrastructure to facility cross-border transactions.

Keywords: Shari’ah h views, Islamic banking, products & services, standardization.

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Authors: Muhammad Khaleequzzaman, Muhammad Mansoori, Abdul Rashid

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The legitimacy of Islamic banking refers to the compliance with the precepts of Shariah (Islamic law) of the pronouncements and their implementation, requisites of various contracts, as well as, observance of the welfare objectives. Therefore, the Islamic banks are supposed to follow the Islamic values focused to bring benefit to the society alongside the commercial motive. These distinguishing features establish identity of the Islamic banks separate from their conventional counterparts and require pursuing normative values of Islamic injunctions instead of profit maximization merely through commercial motive. Given this, the efficiency of the Islamic banks should be evaluated against the value judgements prescribed by the Islamic economic philosophy and their role in establishing the just economy. Nevertheless, the empirical evidence on such value-oriented role of Islamic banking is limited that is filled by this research. The primary focus of the research is two folds; developing a theoretical framework that affords a holistic approach of Shariah legitimacy of Islamic banking practices, including welfare pursuits in addition to the usual compliance mechanism, to help evaluating legitimacy of Islamic banking practices in Pakistan. Therefore, the research has been commissioned by developing the constructs of Shariah legitimacy through extensive review of the relevant literature. At the same time, the empirical analysis based on the opinion of 836 customers of Islamic and conventional banks in all the four provinces and the capital city of Pakistan has produced important conclusions regarding their perception about legitimacy of the Islamic banking practices. The results have helped to know as to how the legitimacy through Shariah perspective is viewed by them. The data analysis using various statistical techniques has yielded results consistent with the objectives of the study. The key findings of the theoretical framework conclude that the value judgements have been grossly ignored by the Islamic banks. The empirical research achieves that about half of the customers perceived Islamic banking as Shariah legitimate. On overall basis, the other half viewed contrary to this or preferred to remain indifferent. There is a need that Islamic banks should look into the desired goals of Shariah legitimacy in both contexts; the value judgement and the perception of the customers.

Keywords: Islamic banking, Shariah legitimacy, Maqasid al Shariah (higher purposes of the lawgiver), value judgment, distributive justice

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Authors: Shreyas Jayasimha, Suneel Anand Sundharesan, Rohan Tigadi

Abstract:

In the recent past, the United States of America and Russia were the only two dominant players in the field of space exploration and had a virtual monopoly in the field of space and technology. However, this has changed over the past few years. Many other nation states such as India, China, and the UK have made significant progress in this field. Amongst these nations, the growth and development of the Indian space program have been nothing short of a miracle. Starting recently, India has successfully launched a series of satellites including its much acclaimed Mangalyaan mission, which placed a satellite in Mars’ orbit. The fact that India was able to attain this feat in its attempt demonstrates the enormous growth potential and promise that the Indian space program holds for the coming years. However, unlike other space-faring nations, India does not have a comprehensive and consolidated space insurance policy. In this regard, it is pertinent to note that, the costs and risks involved in a administering a space program are enormous. Therefore, in the absence of a comprehensive space insurance policy, any losses from an unsuccessful will have to be borne by the state exchequer. Thus, in order to ensure that Indian space program continues on its upward trajectory, the Indian establishment should seriously consider formulating a comprehensive insurance policy. This paper intends to analyze the international best practices followed by other space-faring nations in relation to space insurance policy. Thereafter, the authors seek to examine the current regime in India relating to space insurance policy. Finally, the authors will conclude by providing a series of recommendations regarding the essential elements that should be part of any Indian space insurance policy regime.

Keywords: India, space insurance policy, space law, Indian space research organization

Procedia PDF Downloads 195