TRENDS AND PATTERN OF REMITTANCES FROM ABROAD TO INDIA
Tarun ManjhiVolume 38, Issue 2
India has been largest recipient of remittances for long time. Remittances play important role in economic development of any country particularly under developed and developing countries because it is an important and stable source of foreign exchange reserve and external finance. Apart from minimising gap between demand and supply of capital, it also facilitates consumption of different kinds of goods and services to migrants` households. This paper broadly tries to analyse change in trends and patters of inflow of remittances in India and changes in source of Indian remittances over period of time.
COST EFFICIENCY OF SCHEDULED COMMERCIAL BANKS: EMPIRICAL EVIDENCE FROM INDIA
Aparna Bhatia and Megha MahendruVolume 38, Issue 2
The paper endeavours to assess the Cost Efficiency (CE) scores of all Scheduled Commercial Banks operating in India. In order to have comprehensive vision the cost efficiency is evaluated across ownerships well to identify the best performing and worst performing banking sector. The study also determines the nature of Return to Scale (RTS) of the Indian banking industry. Further, the paper recognizes the number of banks operating as leaders and laggards according to Cost Efficiency and its component scores. The results of Data Envelopment Analysis (DEA) suggest that Indian Scheduled Commercial Banks have never achieved full Cost Efficiency score of 1 in any of the years from 2002-03 to 2012-13. The sector-wise findings highlight that Foreign Sector Banks are the most cost efficient banks followed by Private Sector Banks and at last the Public Sector Banks.
ARE BRAND EXPERIENCE AND BRAND LOYALTY DIFFERENT IN PRODUCT AND SERVICE BRANDS?
Ruchika Ramakrishnan and Anupama VohraVolume 38, Issue 2
It is commonly found in marketing literature, for development of marketing and consumer behaviour theories; a lot of importance has been attributed to an understanding of consumerbrand relationships. This paper makes an attempt to understand this consumer- brand relationship for brand experience and brand loyalty. The basic objective of this paper is to explore whether there are any differences in brand experience and brand loyalty between product and service brands. It presents a detailed analysis of an empirical research conducted on 423 actual consumers. The results show that though brand experience is different between product and service brands, brand loyalty is not.
EXPECTATIONS AND USAGE PATTERN OF MOBILE PHONE SUBSCRIBERS AND ROLE OF SERVICE PROVIDERS: A COMPARATIVE STUDY OF RURAL AND URBAN INDIA
Abhay JainVolume 38, Issue 2
The paper firstly compares the current usage pattern of mobile phone services of urban and rural subscribers and their desired pattern of mobile phone services in future. Secondly, it compares the level of activities that are being adopted by the mobile phone service providers in rural and urban areas and the subscribers’ desired level of activities to be adopted by their mobile phone service providers in future in rural and urban areas. The primary study was based on 800 respondents from the four states of India viz. Gujarat, Punjab, Tamil Nadu and West Bengal that covered the rural and urban mobile phone subscribers. A non-parametric technique Mann-Whitney U test was applied to examine the significant differences between the means of urban and rural mobile phone subscribers with respect to their mobile phone services. The results revealed that apart from work related and gaming services, significant differences emerged between the rural and urban subscribers with respect to mobile phone services usage viz. social calls, text messages, mobile internet, agriculture/commodity prices updates, application downloads, payment through mobile phone services, weather updates and social chatting. The significant differences also emerged between the two groups with respect to their desired level of usage pattern of mobile services except text messages and mobile internet. The usage for social calling, gaming, agriculture/commodity prices updates and weather updates was found to be higher in rural areas than their urban counterparts. Moreover, the results showed that the desired level of usage pattern of mobile phone services in rural areas were found to be higher in all mobile phone services than that of their urban counterparts. The study also showed that statistical significant differences emerged between the two groups with respect to current and desired level of activities carried out by their services providers. Except for pamphlets distribution in regional language, the service providers were found to be active more in rural areas than urban areas. Urban subscribers’ desired distribution of pamphlets in regional language to be higher than rural areas and in other activities, rural subscribers desired more activities than in urban areas. The study makes an empirically rigorous contribution to a relatively under researched aspect of comparing the means of urban and rural subscribers with respect to their current usage pattern, desired usage pattern, current activities carried out by service providers and desired activities of mobile phone service providers. The author recommends that private players and government agencies should take into their consideration the results of the study for diffusion of mobile phone services for reducing the gap between urban and rural tele-density in India.
TESTING FINANCIAL INTEGRATION BETWEEN STOCK MARKET OF INDIA AND JAPAN: AN EMPIRICAL STUDY
Lovleen Gupta and Rohit Kumar ShrivastavVolume 38, Issue 2
Growth of a country is dependent upon several factors like economic condition, financial environment, institutional infrastructure and also most importantly the growth of Industries in the country and growth of the industries is basically depended upon climate of capital market of the country because this market actually provides an element which is most important for the success and failure of every industry i.e., funds. The present paper tries to analyse the scope of financial integration between Indian stock market (NSE) and Japanese stock market (Tokyo Exchange) by taking daily closing index of NSE and TSE. This paper further made an attempt to explore existence of dynamic interlinkages and causal relationship between the Indian Stock Market (NSE) and Japanese stock market (Tokyo Exchange). Tokyo Securities Market being 4th largest exchange in the global stock market and the largest in Asia too. In line with this, India is also having sophisticated stock exchange which is National Stock Exchange. It is the finest and most advanced and automated exchange of the world too which is ranked 12th in the world. We applied ADF test for stationarity of data series and found stationary at first difference. Descriptive statistics showed NSE market provide little bit higher returns than TSE market. Correlation between NSE and TSE indices is coming out to be +0.804784. Testing results of Granger Causality explained that TSE Ganger causes return at NSE and NSE also Granger causes return at TSE. We examined Co-integration and found a cointegration relationship between NSE and TSE. Therefore, during the study we found an evidence of financial integration between the market of India and Japan
AN EMPIRICAL ASSESSMENT OF THE IMPACT OF FOREIGN DIRECT INVESTMENT ON EMPLOYMENT IN INDIAN PHARMACEUTICAL INDUSTRY
Neha Sharma and Amarjit Singh SidhuVolume 38, Issue 2
Indian economy has witnessed a positive shift in the perception of the role played by Foreign Direct Investment (FDI) from an era of concern and suspicion to the most important source of external finance for developing countries. Associated with bringing positive externalities and greatly augmenting domestic capital, FDI is sought by many countries. In the present scenario, employment creation is regarded as one of the important potential contributions made by FDI to the host economy. Thus, the study makes an attempt to analyze the impact of Foreign Direct Investment on employment in Indian Pharmaceutical Industry using recent firm level panel data for the time frame of fifteen years (2001-2015). Our analysis broadly concludes that increased FDI flows have led to higher levels of employment. It is also observed that export intensity and size positively affect the employment while capital intensity has a negative impact. A significant policy direction that emerges from the study is that in order to improve the employment, exports in the labor intensive industries should be encouraged.
BRANDING: AN IMPORTANT ASPECT OF CONSUMER BUYING BEHAVIOUR TOWARDS BRANDED APPAREL
Aishvarya Bansal and Santosh SabharwalVolume 38, Issue 2
Purpose of this study is to deliberate upon the young consumer behaviour towards branded apparel in Delhi and NCR & to understand concept of branded apparel, to observe brand awareness for different apparel brands, to analyse factors responsible for brand recognition, discover significant factors which persuade a consumer to choose any brand among from available brands; to study factors creating brand association & to analyse how brand loyalty is beneficial to marketers. The study is descriptive in nature based on primary data for analyses of results. A structured questionnaire was formulated using likert scale, multiple grid, multiple choice questions administered to 400 young consumers (Age 15-34 Years) including both males and females varying from professional, businessman, student or job seekers using conveniencе sampling from differеnt placеs of Dеlhi and NCR. The results were analysed based on demographic profile (work status, age, gender, education and income) which was the subject under study for this paper. This vital information can help the companies in better understanding customer needs & deliver them the products. Today buying has become a delightful experience rather than mere satisfaction. Following the еntry of sevеral new brands, the brandеd segmеnt has grown at 25% annually. This represеnts a shift from unbrandеd to the brandеd segmеnt which is mainly due to factors like, rising income levels of Indians, changing demographics, improvements in standard of living and increasing brand consciousness especially for young consumers in Delhi and NCR. Thus, marketer’s should devise attractive consumer strategies to bring more loyalty towards their brands in young consumers to avoid brand shifting. Brand loyal consumers respond positively to a brand changes in terms of price, quality, competition, variety. This study is also useful for the researchers in understanding the entire branding process and how each stage in branding is important to ultimately ensure brand loyalty.
MOBILE BANKING SERVICES ADOPTION: AN EXPLORATORY STUDY
Himani Dahiya and Hamendra Kumar DangiVolume 38, Issue 2
Over the last two decades, there has been a rapid advancement in telecommunication infrastructure, particularly in the field of wireless technology. This has facilitated an immense growth in Mobile commerce (m-commerce), thereby making it an increasingly important part of our daily lives. Moreover, there has been recent evolution in mobile technologies like 3G, 4G and massive upspring in the use of mobile devices (especially smartphones). With this, m-commerce have provided various significant opportunities for telecom companies and mobile service providers to create and offer new value added services such as mobile wallets to their customers. The purpose of this paper is to examine the overall status and the increasing relevance of mobile banking or payment services in India. Further, the objective of this study is to analyze and gain a meaningful insight into the various key drivers and inhibitors that has an impact on consumer’s value perception and thus influences their behavioural intention to adopt and use an innovative technology which is wireless or Mobile banking (m-banking) in this context. For this we have conducted an extensive review of extant literature in context of m-banking adoption with respect to various developed and developing countries by using ‘NVivo 11 Plus’. The findings highlighted that the most commonly applied model by majority of the studies for understanding m-banking adoption is technology acceptance model and its various extensions. Furthermore, it was revealed that the most significant facets or attributes of adoption are compatibility, perceived usefulness, perceived risk, perceived trust and attitude in both developing and developed countries.
THE IDEA OF UNIVERSAL BASIC INCOME IN INDIA: AN ANALYSIS
Virender Kumar and Shivani KanojiaVolume 38, Issue 2
The idea of universal basic income (UBI) has been assuming great importance in today’s world because the existing welfare schemes have failed in addressing the problem of poverty effectively. The existing schemes are generally mired in red-tapism, data manipulation, exclusion error, corruption, high leakages and high administrative and implementation costs. The system of UBI overcomes above issues through (i) its feature of being un-conditional and universal, and (ii) through transfer of a guaranteed income directly to the beneficiaries. In this context, the paper concludes that UBI can be a good alternative to all the existing welfare schemes to reduce poverty in India. However, the introduction of UBI currently faces many practical difficulties and hence it should be implemented only in a gradual manner.
DELHI CITIZENS’ HANDBOOK: GOVERNMENT TO CITIZEN SERVICES
Annavajhula J. C. BoseVolume 38, Issue 2
The study of citizenship is not only topical but also a large, variegated, everchanging subject. The truth in this regard is that there is no consensus on the idea of citizenship in terms of rights and duties, feelings, status, identities, etc. and for large numbers of people throughout the world the idea of citizenship is still hollow and empty and meaningless, deprived as they are of virtually all of its amenities (Heater, 2002). In this milieu, it is very heartening that the Centre for Civil Society as an NGO involved in bringing about social change through public policy, has taken initiative to bring out this study that gives the reader the empirical flavour about amenities to the Delhi citizens.