Search results for: Indian banking

Authors: Mornay Roberts-Lombard

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Consumers’ perceptions of value are crucial to ensuring their future commitment and behavioral intentions. As a result, service providers, such as Islamic banks, must provide their customers with products and services that are regarded as valuable, stimulating, collaborative, and competent. Therefore, the value provided to customers must meet or surpass their expectations, which can drive customers’ commitment (affective and calculative) and eventually favorably impact their future behavioral intentions. Consequently, Islamic banks in South Africa, as a growing African market, need to obtain a better understanding of the variables that impact Islamic banking customers’ value perceptions and how these impact their future behavioral intentions. Furthermore, it is necessary to investigate how customers’ perceived value perceptions impact their affective and calculative commitment and how the latter impact their future behavioral intentions. The purpose of this study is to bridge these gaps in knowledge, as the competitiveness of the Islamic banking industry in South Africa requires a deeper understanding of the aforementioned relationships. The study was exploratory and quantitative in nature, and data was collected from 250 Islamic banking customers using self-administered questionnaires. These banking customers resided in the Gauteng province of South Africa. Exploratory factor analysis, Pearson’s coefficient analysis, and multiple regression analysis were applied to measure the proposed hypotheses developed for the study. This research will aid Islamic banks in the country in potentially strengthening customers’ future commitment (affective and calculative) and positively impact their future behavioral intentions. The findings of the study established that service quality has a significant and positive impact on perceived value. Moreover, it was determined that perceived value has a favorable and considerable impact on affective and calculative commitment, while calculative commitment has a beneficial impact on behavioral intention. The research informs Islamic banks of the importance of service engagement in driving customer perceived value, which stimulates the future affective and calculative commitment of Islamic bank customers in an emerging market context. Finally, the study proposes guidelines for Islamic banks to develop an enhanced understanding of the factors that impact the perceived value-commitment-behavioral intention link in a competitive Islamic banking market in South Africa.

Keywords: perceived value, affective commitment, calculative commitment, behavioural intention

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Authors: Nisha James, Shubha Ranganathan

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One of the most poignant forms of organized crime against women, which has rarely made it to the world of Indian cinema, is that of sex trafficking, i.e. the forcible involvement of women in the sex trade through fraud or coercion (Hughes, 2005). In the space of Indian cinema, much of the spotlight has been on the sensational drug trafficking and gang mafia of Bombay. During our research on sex trafficking, the rehabilitated women interviewed often expressed strong criticism about mass media’s naive portrayal of prostitutes as money-minting, happy and sexually driven women. They argued that this unrealistic portrayal ignored the fact that this was not a reality for the majority of trafficked women. Given the gravity of sex trafficking as a human rights issue, it is, therefore, refreshing to see three recent films on sex trafficking in Indian Languages – Naa Bangaaru Talli (2014, Telugu), Mardaani (2014, Hindi) and Lakshmi (2014, Hindi). This paper reviews these three films to explore the portrayal of the everyday reality of trafficking for women. Film analysis was used to understand the representation of psychological issues in the media. The strength of these movies starts with their inspirations which are of true stories and that they are all aimed at bringing awareness about the issue of sex trafficking, which is a rising social evil in Indian society though none of the three films move to portray the next phase of rehabilitation and reintegration of victims, which is a very complex and important process in the life of a survivor. According to findings, survivors of sex trafficking find the rehabilitation and reintegration into society to be a slow and tough part of their life as they continuously face stigma and social exclusion and have to strive to live against all odds of non-acceptance starting from their family.

Keywords: film review, Indian films, sex trafficking, survivors

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Authors: Anju Luthra, Rajender Lal, Dhananjoy Shaw

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Participation in games and sports in the contemporary times has become more competing with the developed scientific knowledge, skills and methods, along with the equipment and applied research in the field. In spite of India being a large country having vast resources and potential, its performance in the world of sports on the whole needs sincere attention for better achievements. Beside numerous factors responsible for the dismal performance of a sportsperson, the physique and body composition, including the size, shape and form are known to play a significant role. The present investigation was undertaken to study the specific morphological characteristics of Indian female Track and Field athletes. A total of 300 athletes were randomly selected as sample for the purpose of the study from the six events having 50 athletes in each event including 100m., 400m., Shot Put, Discus Throw, Long Jump and High Jump. The study included body weight, body fat percentage, lean body weight, endomorphy, mesomorphy and ectomorphy as variables. The data were computed statistically by using Mean, Standard Deviation and Analysis of Variance. The post-hoc analysis was conducted where the F-ratio was found to be significant at .05 level. The study concluded that there is a significant difference with regard to the selected variables among the Indian female athletes of different track and field events.

Keywords: Indian female athletes, body composition, morphology, somatotypes, track and field

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Authors: Trisiladi Supriyanto

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Although much research has been done on the pricing benchmark both in terms of fiqh or Islamic economic perspective, but no substitution for the concept of interest (rate of interest) up to now in the application of Islamic Banking because some of the jurists from the middle east even allow the use of a benchmark rate such as LIBOR (London Interbank Offered Rate) as a measure of Islamic financial asset prices, so in other words, they equate the concept of rate of interest with the concept of rate of profit, which is the core reason (raison detre) for the replacement of usury as instructed in the Quran. This study aims to find the concept of rate of profit on Islamic banking that can create economic justice and stability in Islamic Banking and Capital market. Rate of profit that creates economic justice and stability can be achieved through its role in maintaining the stability of the financial system in which there is an equitable distribution of income and wealth. To determine the role of the rate of profit as the basis of the sharing system implemented in the Islamic financial system, we can see the connection of rate of profit in creating financial stability, especially in the asset-liability management of financial institutions that generate a stable net margin or the rate of profit that is not affected by the ups and downs of the market risk factors including indirect effect on interest rates. Furthermore, Islamic financial stability can be seen from the role of the rate of profit on the stability of the Islamic financial assets that are measured from the Islamic financial asset price volatility in Islamic Bond Market in Capital Market.

Keywords: Rate of profit, economic justice, stability, equitable distribution of income, equitable distribution of wealth

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Authors: Oktofa Y. Sudrajad, Didier V. Caillie

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Association of Southeast Asian Countries Nations (ASEAN) is moving forward to the next level of regional integration by the initiation of ASEAN Economic Community (AEC) which is already started in 2015, 8 years after its declaration for the creation of AEC in 2007. This commitment imposes financial integration in the region is one of the main agenda which will be achieved until 2025. Therefore, the commitment to financial integration including banking integration will bring new landscape in the competition and business model in this region. This study investigates the effect of competition on bank business model using a sample of 324 banks from seven members of Association of Southeast Asian Nations (ASEAN) countries (Cambodia, Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam). We use market power approach and Boone indicator as competition measures, while income diversification and bank funding strategies are employed as bank business model representation. Moreover, we also evaluate bank business model based by grouping the banks based on the main banking characteristics. We use unbalanced bank-specific annual panel data over the period of 2003 – 2015. Our empirical analysis shows that the banking industries in ASEAN countries adapt their business model by increasing non-interest income proportion due to the level of competition increase in the sector.

Keywords: bank business model, banking competition, Boone indicator, market power

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Authors: Sarthak S. Salunke

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Development, as a notion, is seen in perspective of western philosophical conceptions, and the western developed nations have become a yardstick for setting up development goals for developing and underdeveloped nations around the world. This blanket term of development becomes superficial and materialistic in context of the vast geopolitical, territorial, cultural and behavioral diversities existing in countries of the Africa and the Asia, and tends to undermine the atomistic aspect of development. Indian political theories, which are often seen as religious philosophies, have inherent structure of development of human being as an individual and as a part of the society, and, in result, development of the State. These theories, primarily individualistic in nature, have a combination of altruism and rationalism which guides human beings towards constructing a collectively developed and morally sustainable society. This research focuses on the application of this Indian thought in combination of classical liberal thought to tackle the issues of development in diverse societies. The proposed restructured model of development is based on molecular individualism, instead of atomic individual approach of liberalists, which lets development modelers to target meaningful clusters for designating goals for development based on the particular needs based on geopolitical, cultural and ethical requirements, and making it meaningful in conjunction with global development to establish a harmony between western and eastern worlds.

Keywords: Indian political thought, development, liberalism, molecular individualism

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Authors: Rajat Kapoor

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Indian Real Estate sector is the second largest employer after agriculture and is slated to grow at 30 percent over the next decade. Indian cities have shown tumultuous growth since last two decades. With the growing need of infrastructure, it has become inevitable for real estate sector to adopt more organized and transparent system of investment. SPVs such as REITs ensure transparency facilitating accessibility to invest in real estate for those who find it difficult to purchase real estate as an investment option with a realistic income expectation from their investment. RIETs or real estate investment trusts is an instrument of pooling funds similar to that of mutual funds. In a simpler term REIT is an Investment Vehicle in the form a trust which holds & manages large commercial rent¬ earning properties on behalf of investors and distributes most of its profit as dividends. REIT enables individual investors to invest their money in commercial real estate assets in a diversified portfolio and on the other hand provides fiscal liquidity to developers as easy exit option and channel funds for new projects. However, the success REIT is very much dependent on the taxation structure making such models attractive and adaptive enough for both developers and investors to opt for such investment option. This paper is intended to capture an overview of REITs with context to Indian real estate scenario.

Keywords: Indian real estate, real estate infrastructure trusts, urban finance, infrastructure investment trusts

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Authors: Sirus Sharifi, Arunima Haldar, S. V. D. Nageswara Rao

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This research analyzes the effect of credit risk management practices of commercial banks in India and the relationship with their non-performing assets (NPAs). Required data on credit risk performance was collected through a survey questionnaire from top risk officers of 38 Indian banks. NPA data (period from 2012 to 2016) was collected from Prowess database compiled by the Centre for Monitoring Indian Economy (CMIE). The model was assessed utilizing cross sectional regression method. As expected, the results indicate a negative significant relationship between credit risk management in India banks and their NPA growth. The research has implications for banks given the high level of losses in India and other economies as well, and the implementation of Basel III standards by the central banks. This research would be an evidence on credit risk performance and its relationship with the level of non-performing assets (NPAs) in Indian banks.

Keywords: risk management, risk identification, banks, Non-Performing Assets (NPAs)

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Authors: Anusmita Das

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In the post-industrial scenario, cities in India have become critical sites of negotiation and are expected to become some of the largest urban agglomeration of the twenty-first century. This has created a pluralist identity resulting in a new multifarious urbanism pervading throughout the entire urban landscape. There is an ambiguity regarding the character of present day Indian cities with new meanings emerging and no methodical study to understand them. More than an abstract diagram, the present day cities can be looked at as an ensemble of meanings. One of the ways in which the meaning is reflected is through events. Festivals such as Diwali, Dussera, Durga Puja, Ganesh Chaturthi, etc have transpired as the phenomenon of the city, and their presence in the everyday landscape weaves itself through the urban fabric dominating the popular visual culture of Indian cities. Festivals influence people’s idea of a city. Ritual, festival, celebrations are important in shaping of the urban environment and in their influence on the intangible aspect of the urban setting. These festivals pertaining to the city in motion have emerged as the symbolic image of the emerging urban Indian condition giving birth to new urban identities. The study undertaken to understand the present context of temporality of Indian cities is important in analyzing the process of its formation and transformation. This study aims to review the evolution of new dimensions of urbanism in India as well as its implication on the identity of cities.

Keywords: urban identities, urban design, festivals, rituals, celebrations, inter-disciplinary study

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Authors: Zidane Abderrezaq

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This paper’s primary objective is to identify the relative importance of various Islamic financial products, in theory and in practice, by examining the financing records of the Bank Islam Malaysia (Berhad) and the Algeria Islamic Bank. Currently, seven available Islamic financing products are considered viable alternatives to interest-based conventional contracts: mudarabah (trust financing), musharakah (equity financing), ijarah (lease financing), murabahah (trade financing), qard al-hassan (welfare loan), bay` bi al-thaman al-ajil (deferred payment financing), and istisna` (progressive payments). Among these financial products, mudarabah and musharakah are the most distinct. Their unique characteristics (at least in theory) make Islamic banks and Islamic financing viable alternatives to the conventional interest-based financial system. The question before us is to determine the extent of mudarabah and musharakah in Islamic financing in practice. The data are as follows: the average mudarabah is 5% of total financing, and the average musharakah is less than 3%. The combined average of mudarabah and musharakah for the two Islamic banks is less than 4% of the total finance and advances. The average qard al-hassan is about 4%, while istisna` does not yet exist in practice. Murabahah is the most popular and dominates all other modes of Islamic financing. The average use of murabahah is over 54%. When the bay` bi al-thaman al-ajil is added to the murabahah, the percentage of total financing is shown to be 82.68%. This paper also explores some possible reasons why these two Islamic banks appear to prefer murabahah to mudarabah and musharakah.

Keywords: Islamic banking, Islamic finance, Islamic banking rofitability, investment banking

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Authors: Badrun Taman

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This study aims to review the use of the Bengkulu Provincial Government Mess as the location of rukyatul hilal because its determination has not been carried out scientifically. There are three things that will be analyzed, namely geographical-astronomical conditions, the suitability of the location with ideal criteria, and the determination of the location of rukyatul hilal in accordance with regional conditions based on the results of the study. The research method used is qualitative with an astronomical geographical approach. The results showed that the factor that strengthened the disturbance from the weather aspect was the western sky horizon in the form of the Indian Ocean sea level. The potential for geographical disturbances on this horizon is high sea waves, relatively high sea breezes, and more seawater vapor due to sea surface temperatures and high air humidity. This study found new criteria for determining the location of the observation crescent. The criteria is the western horizon is not sea level (especially the Indian Ocean).

Keywords: criteria, location, Rukyatul Hilal, tropics, Indian ocean

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Authors: Ranjitkumar Patil

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Age estimation has its importance in forensic dentistry. Dental age estimation has emerged as an alternative to skeletal age determination. The methods based on stages of tooth formation, as appreciated on radiographs, seems to be more appropriate in the assessment of age than those based on skeletal development. The study was done to evaluate dental age in north Indian population using Cameriere’s method. Aims/Objectives: The study was conducted to assess the dental age of North Indian children using Cameriere’smethodand to compare the chronological age and dental age for validation of the Cameriere’smethod in the north Indian population. A comparative study of 02 year duration on the OPG (using PLANMECA Promax 3D) data of 497 individuals with age ranging from 5 to 15 years was done based on simple random technique ethical approval obtained from the institutional ethical committee. The data was obtained based on inclusion and exclusion criteria was analyzed by a software for dental age estimation. Statistical analysis: Student’s t test was used to compare the morphological variables of males with those of females and to compare observed age with estimated age. Regression formula was also calculated. Results: Present study was a comparative study of 497 subjects with a distribution between male and female, with their dental age assessed by using Panoramic radiograph, following the method described by Cameriere, which is widely accepted. Statistical analysis in our study indicated that gender does not have a significant influence on age estimation. (R2= 0.787). Conclusion: This infers that cameriere’s method can be effectively applied in north Indianpopulation.

Keywords: Forensic, Chronological Age, Dental Age, Skeletal Age

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Authors: Jahnavi Priya Alluri, Sarang Barbarwar

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With over 6000 years of sustained civilization, India has been home to diverse social customs and various communities. The country’s culture and architecture have been profoundly impacted by the extensive variation in its geography and climatic conditions. In its history, many kingdoms have ruled in the South Indian state of Andhra Pradesh. The vernacular constructions of this region have progressed considerably in this period. The paper discusses the impact on vernacular architecture in Venkatagiri, Andhra Pradesh, post the arrival of the British. The town was a small settlement that finds its roots in the Vijaynagara Empire. The study tries to highlight the amalgamation of colonial influences on the local construction techniques and material usage. It discusses the new variation in the style of architecture through the case of Venkatagiri Palace and its precincts. The paper also discusses the traits of distinction in the influence through various social and economic groups of the old city of the same town.

Keywords: vernacular architecture, colonial architecture, Venkatagiri, south Indian vernacular

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Authors: Anoop Kumar Suraj

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Dr Rammanohar Lohia (1910-67), a radical Indian socialist thinker, left an unfinished and critical oeuvre of works on ‘Social Revolution’, argued for the necessity of fundamentally reordering our social structures and offered the ideological framework for such a radical change. An alternative kind of democratic political action called Saat Krantiya, or ‘seven revolutions’, sought to establish socialism with a strong cultural and historical foundation in Indian society. Lohia cautiously adopted civil disobedience [a Gandhian tool] as a means of seven revolutions as a mode of revolution. He saw Indian youth as the vanguard of the social revolution and claimed that the ideas of ‘constructive militancy’ and ‘militant construction’ were at the core of such a revolution. This paper demonstrates that Lohia presented a unique short theoretical paradigm to interpret history and revolution, and Sapta Kranti was a normative framework to arrive at an egalitarian society.

Keywords: Rammanohar Lohia, Sapt Kranti, matter and spirit, caste-class, human approximation

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Authors: Aman Guru, Chiron Singhi

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The Earth’s climate is being changed at an unrivalled rate since beginning of the evolution of the Earth, 4–5 billion years back, but presently it gained pace due to unintentional anthropogenic disturbances and also increased global warming since the mid-20th century, and these incessant changes in the climatic pattern may bring unpropitious effect on global health and security. Today, however, it is not only the air, or water that are polluted, but the whole atmosphere is prone to pollution and this resulted in other cascading ramification in the form of change in the pattern of rainfall, melting of ice, the rise in the sea level etc. Human activities like production, transport, burning of fuels are adding umpteen dangerous pollutants to the atmosphere which in turn gives rise to global warming. Agriculture plays an imperative part in India's economy. Agriculture, along with fisheries and forestry, is one of the largest contributors to the Gross Domestic Product in India. Research on the effect of climate change and vulnerability of agriculture is a high need in India. A steady increase of CO2 is a primary cause of climate change and global warming and which in turn have a great impact on Indian agriculture. The research focuses on the effect of climate change on Indian agriculture and the proceedings and legal control of legislative measures on such issues and the ways to implement such laws which can help to provide a solution to these problems which can prove beneficial to Indian farmers and their agricultural produce.

Keywords: agriculture, climate change, global warming, India laws, legislative measures

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Authors: Anil Kumar

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Public Bicycle System (PBS), generally known as Public Bicycle Share System or Bike-Share, is a service provided to the everyday commuters in which several cycles are available on the shared system. The concept of PBS is new to the people of India and requires more study in the fields of essential requirements, major infrastructural requirements, social acceptability, and various challenges. In various Indian cities, MRTS, BRTS, Monorail, and other modes of transport have been adopted for the main haul of transport. These modes take more time, space and are also expensive to implement. At the same time, the PBS system is more economical and takes less time to implement. The main benefit of the PBS system is that it is more environmentally friendly. PBS is being implemented in many Indian cities for public use, but various challenges are associated with this. The study aims to determine what are the basic infrastructural requirements for PBS in India, as well as to determine to what extent a Public Bike Sharing System can provide a quality and efficient service to passengers as a primary method of transportation.

Keywords: public bicycle sharing system, sustainable transport, infrastructure, smart city

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Authors: Jilly John

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The paper reports one of the study conducted to explore the dimensions of child rearing practice and effects of power difference among parents on child rearing practices adopted in the families. The first objective investigated dimensions of child rearing practices (a) overprotection (b) disciplinarian, (c) esteem building, (d) normal, (e) harsh (f) ridicule, and (g) rejection. The second objective investigated difference among father and mother on child rearing practices. The results of the study revealed that dimensions of child rearing practices are crucial variables which resulted in form of major deviations in distribution of parents in the seven dimensions. Analysis of objective two revealed that harsh and ridicule dimensions of child rearing practices are significantly different among father and mother. The dimensions are also different when the parents are employed and according to the type of families. Thus the results of the study present the possibility of changed child rearing practices among Indian families in relation to prevalent sociodemographic changes and indicate the necessity to re-examine culture-based explanations on child rearing practices.

Keywords: child rearing practices, dimensions of child rearing, difference among parents, Indian families

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Authors: Jayashree And Gajjam

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Intellectual humility (IH) is defined as a virtuous mean between intellectual arrogance and intellectual self-diffidence by the ‘Doxastic Account of IH’ studied, researched and developed by western scholars not earlier than 2015 at the University of Edinburgh. Ancient Indian philosophical texts or the Upanisads written in the Sanskrit language during the later Vedic period (circa 600-300 BCE) have long addressed the virtue of being humble in several stories and narratives. The current research paper questions and revisits these character traits in an Indian context following an experimental method. Based on the subjective reports of more than 400 Indian teenagers and adults, it argues that while a few traits of IH (such as trustworthiness, respectfulness, intelligence, politeness, etc.) are panhuman and pancultural, a few are not. Some attributes of IH (such as proper pride, open-mindedness, awareness of own strength, etc.) may be taken for arrogance by the Indian population, while other qualities of Intellectual Diffidence such as agreeableness, surrendering can be regarded as the characteristic of IH. The paper then gives the reasoning for this discrepancy that can be traced back to the ancient Indian (Upaniṣadic) teachings that are still prevalent in many Indian families and still anchor their views on IH. The name Upanisad itself means ‘sitting down near’ (to the Guru to gain the Supreme knowledge of the Self and the Universe and setting to rest ignorance) which is equivalent to the three traits among the BIG SEVEN characterized as IH by the western scholars viz. ‘being a good listener’, ‘curious to learn’, and ‘respect to other’s opinion’. The story of Satyakama Jabala (Chandogya Upanisad 4.4-8) who seeks the truth for several years even from the bull, the fire, the swan and waterfowl, suggests nothing but the ‘need for cognition’ or ‘desire for knowledge’. Nachiketa (Katha Upanisad), a boy with a pure mind and heart, follows his father’s words and offers himself to Yama (the God of Death) where after waiting for Yama for three days and nights, he seeks the knowledge of the mysteries of life and death. Although the main aim of these Upaniṣadic stories is to give the knowledge of life and death, the Supreme reality which can be identical with traits such as ‘curious to learn’, one cannot deny that they have a lot more to offer than mere information about true knowledge e.g., ‘politeness’, ‘good listener’, ‘awareness of own limitations’, etc. The possible future scope of this research includes (1) finding other socio-cultural factors that affect the ideas on IH such as age, gender, caste, type of education, highest qualification, place of residence and source of income, etc. which may be predominant in current Indian society despite our great teachings of the Upaniṣads, and (2) to devise different measures to impart IH in Indian children, teenagers, and younger adults for the harmonious future. The current experimental research can be considered as the first step towards these goals.

Keywords: ethics and virtue epistemology, Indian philosophy, intellectual humility, upaniṣadic texts in ancient India

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Authors: Mahmood Mohammed Abdulsattar Aljumaili

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Praise be to Allah and peace and blessings be upon the Messenger of Allah. Islamic banks have not only made a lot of great achievements in a short period, but they imposed themselves in the global market, not to mention the transformation of some conventional interest-based banks to Islamic banks to the large demand on them, this transformation has pushed the Dow Jones Global Foundation to develop a new economic indicator released it (the Dow Jones Islamic market) for those who wish to invest in Islamic financial institutions. The success of Islamic financial institutions today face significant and serious challenges, that embody the serious consequences created by the current events on Islamic banking industry. This modest study, deals with these serious challenges facing the Islamic banking industry, and reflected on the success recorded in the previous period. The study deals with four main topics: The emergence of Islamic banks, the goals of Islamic banks, International challenges facing Islamic banks, internal challenges facing Islamic banks, and finally it touches on, (Basel 1-2) Agreement and its implications for Islamic banks.

Keywords: Islamic banks, Basel 1-2 agreement, most important contemporary challenges, islamic banking industry, Dow Jones Islamic market

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Authors: Deden Misbahudin Muayyad, Lavlimatria Esya

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Up to the month of June 2015, Indonesia has 12 Islamic Commercial Banks, 22 Islamic Business Unit, 327 offices in 33 provinces. The initial purpose of the establishment of Islamic financial institutions is to achieve and the welfare of the people in this world and in the hereafter. To realize these goals, the Islamic financial institutions in every kind of aspect of product development and in terms of operations should be based on maqashid sharia, namely keeping the faith, keep the soul, keep the sense, maintain the property, keeping the offspring. To see whether Islamic banking grounded in maqasid sharia, the Islamic banking performance measurements based on the principles of maqasid sharia. Banking performance measurement is not only focusing on profit and other financial measures, but put other values of banks reflects the size of the benefit of non-profit in accordance with the bank's objectives. The measurement using the measurement of financial performance called maqasid sharia index. Maqasid syariah index is a model of Islamic banking performance measurement in accordance with the objectives and characteristics of Islamic banking. Maqasid syariah index was developed based on three main factors, namely the education of individuals, the creation of justice, the achievement of well-being, where the three factors were in accordance with the common goal of maqasid sharia is achieving prosperity and avoid evil. Maqasid syariah index shows that maqasid sharia approach can be a strategic alternative approach to describe how good the performance of the banking system and it can be implemented in the comprehensive policy strategy. This study uses a model of performance measurement framework based on maqasid syariah, in addition to financial performance measures that already exist. Methods to develop the idea of a performance measurement framework of Islamic banking by maqasid sharia is the Sekaran method. Operationally, the methods have now able to describe the elements that will be measured by this study. This is done by observing the behavior of the dimensions illustrated through a concept that has been set. These dimensions translate into derivative elements that can be observed and more scalable, so it can establish measurement indices. This research is descriptive quantitative. Techniques are being made to collect data in this paper is by using purposive sampling method, with 12 Islamic Commercial Banks that qualify as research samples. The financial data taken at 12 banks was sourced from the annual financial statements the period 2008 to 2012 with consideration of the database and ease of access to data. The ratio measured in this study only 7 ratio used in determining the performance of Islamic banking, namely: four ratio refers to the sharia objectives related to education. three ratio while again referring to sharia objectives related to the achievement of welfare. While other ratios associated with justice can not be used in this study because of the limited data used. Total overall calculation of performance indicators and performance ratios on each goal for each bank describes the maqasid syariah index.

Keywords: Islamic banking, Maslahah, maqashid syariah, maqashid syariah index

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Authors: Siti Nor Amira Bt. Mohamad, Mohamad Yazis B. Ali Basah, Muhammad Ridhwan B. Ab. Aziz, Khairil Faizal B. Khairi, Mazlynda Bt. Md. Yusuf, Hisham B. Sabri

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The understanding of risk and the concept of it occurs associated in Islamic financing was well-known in the financial industry by the using of Profit-and-Loss Sharing (PLS). It was presently in any Islamic financial transactions in order to comply with shariah rules. However, the existence of risk in Murabahah contract of financing is an ability that the counterparty is unable to complete its obligations within the agreed terms. Therefore, it is called as credit or default risk. Credit risk occurs when the client fails to make timely payment after the bank makes complete delivery of assets. Thus, it affects the growth of the bank as the banking business is in no position to have appropriate measures to cover the risk. Therefore, the bank may impose penalty on the outstanding balance. This paper aims to highlight the credit risk determinant and issues surrounding in Islamic bank in Malaysia in terms of Murabahah financing and how to manage it by using the proper techniques. Finally, it explores the credit risk management concept that might solve the problems arise. The study found that the credit risk can be managed properly by improving the use of comprehensive reference checklist of business partners on their character and past performance as well as their comprehensive database. Besides that, prevention of credit risk can be done by using collateral as security against the risk and we also argue on the Shariah guidelines and procedures should be implement coherently by the banking business because so that the risk would be control by having an effective instrument for Islamic modes of financing.

Keywords: Islamic banking, credit risk, Murabahah financing, risk mitigation

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Authors: S. H. Iranmanesh, L. Aliabadi, A. Mollajan

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Integrated resilience engineering (IRE) is capable of returning banking systems to the normal state in extensive economic circumstances. In this study, information system of a large bank (with several branches) is assessed and optimized under severe economic conditions. Data envelopment analysis (DEA) models are employed to achieve the objective of this study. Nine IRE factors are considered to be the outputs, and a dummy variable is defined as the input of the DEA models. A standard questionnaire is designed and distributed among executive managers to be considered as the decision-making units (DMUs). Reliability and validity of the questionnaire is examined based on Cronbach's alpha and t-test. The most appropriate DEA model is determined based on average efficiency and normality test. It is shown that the proposed integrated design provides higher efficiency than the conventional RE design. Results of sensitivity and perturbation analysis indicate that self-organization, fault tolerance, and reporting culture respectively compose about 50 percent of total weight.

Keywords: banking system, Data Envelopment Analysis (DEA), Integrated Resilience Engineering (IRE), performance evaluation, perturbation analysis

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Authors: Sevelina Ndlovu

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Financial Technology (fintech) advancement is recognised as one of the most transformational innovations in the financial industry. Fintech has given rise to internet-only digital banking, a novel financial technology advancement, and innovation that allows banking services through internet applications with no need for physical branches. This technology is becoming a new banking normal among consumers for its ubiquitous and real-time access advantages. There is evident switching and migration from traditional banking towards these fintech facilities, which could possibly pose a systemic risk if not properly understood and monitored. Fintech advancement has also brought about the emergence and escalation of financial technology consumption themes such as trust, security, perceived risk, and sustainability within the banking industry, themes scarcely covered in existing theoretic literature. To that end, the objective of this research is to investigate factors that determine fintech adoption and propose an integrated adoption model. This study aims to establish what the significant drivers of adoption are and develop a conceptual model that integrates technological, behavioral, and environmental constructs by extending the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2). It proposes integrating constructs that influence financial consumption themes such as trust, perceived risk, security, financial incentives, micro-investing opportunities, and environmental consciousness to determine the impact of these factors on the adoption and intention to use digital banking apps. The main advantage of this conceptual model is the consolidation of a greater number of predictor variables that can provide a fuller explanation of the consumer's adoption of digital banking Apps. Moderating variables of age, gender, and income are incorporated. To the best of author’s knowledge, this study is the first that extends the UTAUT2 model with this combination of constructs to investigate user’s intention to adopt internet-only digital banking apps in the UK context. By investigating factors that are not included in the existing theories but are highly pertinent to the adoption of internet-only banking services, this research adds to existing knowledge and extends the generalisability of the UTAUT2 in a financial services adoption context. This is something that fills a gap in knowledge, as highlighted to needing further research on UTAUT2 after reviewing the theory in 2016 from its original version of 2003. To achieve the objectives of this study, this research assumes a quantitative research approach to empirically test the hypotheses derived from existing literature and pilot studies to give statistical support to generalise the research findings for further possible applications in theory and practice. This research is explanatory or casual in nature and uses cross-section primary data collected through a survey method. Convenient and purposive sampling using structured self-administered online questionnaires is used for data collection. The proposed model is tested using Structural Equation Modelling (SEM), and the analysis of primary data collected through an online survey is processed using Smart PLS software with a sample size of 386 digital bank users. The results are expected to establish if there are significant relationships between the dependent and independent variables and establish what the most influencing factors are.

Keywords: banking applications, digital banking, financial technology, technology adoption, UTAUT2

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Authors: P. Agnivesh, P. V. Ponambala Moorthi

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Evolution of information modelling leads to the visualisation of well-organized built environment. Building Information Modelling (BIM) is considered as evolution in the off-site construction which essentially enhances and controls the present scenario of on-site construction paradigms. Promptness, sustainability and security are considered as the important characteristics of the building information modelling. Projects that uses BIM are tied firmly by technology but distributed organizationally. This allows different team members in the project to associate and integrate the works and work flows. This will in turn improve the efficiency of work breakdown structure. Internationally BIM had been accepted as modern computer aided way of information sharing by construction industry for efficient way of manipulation in order to avoid the on-site misperceptions. Even though, in developing countries like India BIM is in the phase of start and requires lot of mandates and policies to be brought about by the government for its widespread implementations. This paper reviews the current scenario of BIM worldwide and in India and suggests for the improved implementation of building modelling for Indian policy condition.

Keywords: building information modelling, Indian polity, information modelling, information sharing, mandates and policies, sustainability.

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Authors: S. H. Babu Gurucharan, Priyanka Kaushal

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Majority of the world's population is expected to live in the Asia and Pacific region by 2050 and thus their cities will generate the maximum waste. India, being the second populous country in the world, is an ideal case study to identify a solution for Asian countries. Waste minimisation and utilisation have always been part of the Indian culture. During rapid urbanisation, our society lost the art of waste minimisation and utilisation habits. Presently, Waste is not considered as a resource, thus wasting an opportunity to tap resources. The technologies in vogue are not suited for effective treatment of large quantities of generated solid waste, without impacting the environment and the population. If not treated efficiently, Waste can become a silent killer. The article is trying to highlight the Indian municipal solid waste scenario as a key indicator of Asian waste management and recommend sustainable waste management and suggest effective solutions to treat the Solid Waste. The methods followed during the research were to analyse the solid waste data on characteristics of solid waste generated in Indian cities, then evaluate the current technologies to identify the most suitable technology in Indian conditions with minimal environmental impact, interact with the technology technical teams, then generate a technical process specific to Indian conditions and further examining the environmental impact and advantages/ disadvantages of the suggested process. The most important finding from the study was the recognition that most of the current municipal waste treatment technologies being employed, operate sub-optimally in Indian conditions. Therefore, the study using the available data, generated heat and mass balance of processes to arrive at the final technical process, which was broadly divided into Waste processing, Waste Treatment, Power Generation, through various permutations and combinations at each stage to ensure that the process is techno-commercially viable in Indian conditions. Then environmental impact was arrived through secondary sources and a comparison of environmental impact of different technologies was tabulated. The major advantages of the suggested process are the effective use of waste for resource generation both in terms of maximised power output or conversion to eco-friendly products like biofuels or chemicals using advanced technologies, minimum environmental impact and the least landfill requirement. The major drawbacks are the capital, operations and maintenance costs. The existing technologies in use in Indian municipalities have their own limitations and the shortlisted technology is far superior to other technologies in vogue. Treatment of Municipal Solid Waste with an efficient green power generation is possible through a combination of suitable environment-friendly technologies. A combination of bio-reactors and plasma-based gasification technology is most suitable for Indian Waste and in turn for Asian waste conditions.

Keywords: calorific value, gas fermentation, landfill, municipal solid waste, plasma gasification, syngas

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Authors: Pragati Sirohi, Vivek Singh Rana

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Brand is a name, term, sign, symbol or design or a combination of all these which is intended to identify the goods or services of one seller or a group of sellers and to differentiate them from those of the competitors and perception influences purchase decisions here and so building that perception is critical. The FMCG industry is a low margin business. Volumes hold the key to success in this industry. Therefore, the industry has a strong emphasis on marketing. Creating strong brands is important for FMCG companies and they devote considerable money and effort in developing brands. Brand loyalty is fickle. Companies know this and that is why they relentlessly work towards brand building. The purpose of the study is a comparison between Indian and Multinational companies with regard to FMCG sector in India. It has been hypothesized that after liberalization the Indian companies has taken up the challenge of globalization and some of these are giving a stiff competition to MNCs. There is an existence of strong brand image of MNCs compared to Indian companies. Advertisement expenditures of MNCs are proportionately higher compared to Indian counterparts. The operational area of the study is the country as a whole. Continuous time series data is available from 1996-2014 for the selected 8 companies. The selection of these companies is done on the basis of their large market share, brand equity and prominence in the market. Research methodology focuses on finding trend growth rates of market capitalization, net worth, and brand values through regression analysis by the usage of secondary data from prowess database developed by CMIE (Centre for monitoring Indian Economy). Estimation of brand values of selected FMCG companies is being attempted, which can be taken to be the excess of market capitalization over the net worth of a company. Brand value indices are calculated. Correlation between brand values and advertising expenditure is also measured to assess the effect of advertising on branding. Major results indicate that although MNCs enjoy stronger brand image but few Indian companies like ITC is the outstanding leader in terms of its market capitalization and brand values. Dabur and Tata Global Beverages Ltd are competing equally well on these values. Advertisement expenditures are the highest for HUL followed by ITC, Colgate and Dabur which shows that Indian companies are not behind in the race. Although advertisement expenditures are playing a role in brand building process there are many other factors which affect the process. Also, brand values are decreasing over the years for FMCG companies in India which show that competition is intense with aggressive price wars and brand clutter. Implications for Indian companies are that they have to consistently put in proactive and relentless efforts in their brand building process. Brands need focus and consistency. Brand longevity without innovation leads to brand respect but does not create brand value.

Keywords: brand value, FMCG, market capitalization, net worth

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Authors: Mehtab Alam Ansari, Shamim Aktar Munshi

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The purpose of this paper is to find out the importance of digital libraries in Indian educational system, and also different types of problems faced by the digital library in modern age. This study uses both qualitative and quantitative approaches along with review of related literature. The conceptual and textual information related to the present study were collected from primary and secondary sources of information such as books and National and International journals etc. Websites were also used for collecting information. The study finds out that due to high demand of information resources so many digital libraries are established in India, e.g. IGNCA digital library, Digital Library of India, Archives of Indian Labour, Digital Library of Library and Information Science etc, and also it found that it is very helpful to the modern civilization. The digital library movement in India is rapidly increasing and the traditional libraries are now on their way to digitization in a phased manner. But digital library in India has failed to spread its root in each and every part. So many problems are facing to develop the digital libraries in present days. This study briefly explained the services, impact, and problems of digital libraries in Indian.

Keywords: digital Libraries, India, information technology, education

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Authors: Rohollah Asadian Kohestani, Nazanin Sedghi

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As the number of banks and financial institutions working in Iran has been significantly increased, the attracting and retaining customers and encouraging them to continually use the modern banking services have been important and vital issues. Therefore, there would be a serious competition without a deep perception of consumers and fitness of banking services with their needs in the current economic conditions of Iran. It should be noted that concepts such as 'brand equity' is defined based on the view of consumers; however, it is also focused by shareholders, competitors and other beneficiaries of a firm in addition to bank and its consumers. This study examines the impact of brand equity on the competitive advantage in the banking industry as intensive competition between brands of different banks leads to pay more attention to the brands. This research is based on the Aaker’s model examining the impact of four dimensions of brand equity on the competitive advantage of private banks in Behshahr city. Moreover, conducting an applied research and data analysis has been carried out by a descriptive method. Data collection was done using literature review and questionnaire. A 'simple random' methodology was selected for sampling staff of banks while sampling methodology to select consumers of banks was the distribution of questionnaire between staff and consumers of five private banks including Tejarat, Mellat, Refah K., Ghavamin and, Tose’e Ta’avon banks. Results show that there is a significant relationship between brand equity and their competitive advantage. In this research, software of SPSS 16 and LISREL 8.5, as well as different methods of descriptive inferential statistics for analyzing data and test hypotheses, were employed.

Keywords: brand awareness, brand loyalty, brand equity, competitive advantage

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Authors: Bhim Singh

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Due to increased pressure from global competitors, manufacturing organizations are switching over to lean philosophies from traditional mass production. Lean manufacturing is a manufacturing philosophy which focuses on elimination of various types of wastes and creates maximum value for the end customers. Lean thinking aims to produce high quality products and services at the lowest possible cost with maximum customer responsiveness. Indian Industry is facing lot of problems in this transformation from traditional mass production to lean production. Through this paper an attempt has been made to identify various lean implementation hurdles in Indian industries with the help of a structured survey. Identified hurdles are grouped with the help of factor analysis and rated by calculating descriptive statistics. To show the effect of lean implementation hurdles a hypothesis “Organizations having higher level of lean implementation hurdles will have poor (negative) performance” has been postulated and tested using correlation matrix between performance parameters of the organizations and identified hurdles. The findings of the paper will be helpful to prepare road map to identify and eradicate the lean implementation hurdles.

Keywords: factor analysis, global competition, lean implementation, lean hurdles

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Authors: Gargi Ghosh

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Municipal solid waste management (MSWM) is an obligatory function of the local self-government as per the Indian constitution, and this paper gives a glimpse of the system in Indian towns focusing on its present state and use of technology in the system. The paper analyses the MSWM characteristics in 35 towns in the southern state of Karnataka. The lifestyle in these towns was found to be very sustainable with minimal disposal and considerable reuse. Average per capita waste generated in the towns ranged from 300 gm/person to 500 gm/person. The waste collection efficiency varied from 60% to 80%. The waste shows equal share of organic and non-organic waste composition with a low calorific value. Lack of capacity of the municipal body in terms of manpower, assets & knowledge and social consciousness were found to be two major issues in the system. Technical solutions in use in India at present are composting, organic re-reprocessing, bio-methanation, waste to energy etc. The tonnage of waste generated ranged from 8 TPD to 80 TPD. The feasibility of technology has been analysed in the context of the above characteristics. It was found that low calorific value and mixed nature of waste made waste to energy and bio methanation processes unsuitable. Composting – windrow and closed door was found best to treat the bulk of the waste. Organic–re-processors was planned for phase 2 of MSWM program in the towns with effective implementation of segregation at source. GPS and RFID technology was recommended for monitoring the collection process and increasing accountability of the citizens for effective implementation.

Keywords: solid waste management, Indian towns, waste management technology, waste charateristics

Procedia PDF Downloads 295