Shanlax Publication
Shanlax Publication
Shanlax Publication
Shanlax International
Journal of Commerce
VOL : 5 No.1 SPECIAL ISSUE : 1 March 2017
INTERNATIONAL CONFERENCE ON
CONTEMPORARY ISSUES IN
COMMERCE, MANAGEMENT & IT
4 th March 2017
Organized by
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Madurai Kamaraj University, Madurai Corporate Secretariship, Alagappa
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Dr. P. Natarajan
Professor, Dept. of Commerce
Pondicherry University, Puducherry
Dr. G. Raju
Professor, Dept. of Commerce
University of Kerala, Thiruvananthapuram
Dr. P. Sundarapandian
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SHANLAX INTERNATIONAL JOURNAL OF COMMERCE
(A PEER-Reviewed-Refereed/Scholarly Quarterly Journal with Impact Factor)
CONTEMPORARY ISSUES IN
COMMERCE, MANAGEMENT & IT
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CHIEF EDITORS
CHIEF PATRON
Thiru. P. Ashok Kumar, MA.,M.Ed.,B.G.L
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PATRON
Thiru. A. Shakti Pranesh, BE., MBA.,(UK)
Director, Mangayarkarasi Institutions
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Principal, Mangayarkarasi College of Arts & science for women
ORGANIZING MEMBERS
Mrs. V.Vasuki M.Com,M.Ed.,M.Phil.,B.L.ISC.,
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Mrs. C. Sindhuja MCA., M.Phil.,
EXECUTIVE MEMBERS
Ms. K. Anitha M.Com (CA), M.Phil
Ms. S. Kaleeswari M.Com, M.Phil
Mrs. S. Sathya M.Com,MBA,M.Phil
Mrs. V. Shanthi Rani M.Com (CA), M.Phil.,
Ms. R.T. Abinaya M.Com (CA), M.Phil
Ms. G. Priyadharshini M.Sc., M.Phil.,
ACKNOWLEDGEMENT
ABSTRACT
Demonetisation will have both short-term costs and long-term benefits. “Briefly, the costs
include a contraction in cash money supply and subsequent, albeit temporary, slowdown in
GDP growth; and benefits include increased digitalization, greater tax compliance and a
reduction in real estate prices, which could increase long-run tax revenue collections and GDP
growth,” Here we have discussed based on facts and analysed about the real outcomes of this
Major Leap Demonetisation implemented on November in India.
Keywords: Demonetisation, Tax evades, GDP Growth, Black Money, Cashless Economy
Introduction
There are multiple reasons why nations demonetise their local units of
currency. Some reasons include to combat inflation, to combat corruption, and to
discourage a cash system. The process of demonetisation involves either introducing
new notes or coins of the same currency or completely replacing the old currency with
new currency. The value of specified notes withdrawn has been estimated to account
for 86% of the value of all currency in circulation at the time.
nor counted in GDP. However, in case of formal sector, earnings are taxed as well as
counted in GDP. The NSS adopts a definition of the “informal sector” which, in the
case of manufacturing, is very different from the residual sector excluded from the
statutory definition of the organised manufacturing sector. The report identifies the
informal sector as consisting of proprietary and partnership enterprises (excluding
those run by non-corporate entities such as cooperatives, trusts and non-profit
institutions), in the non-agricultural sector and in agriculture-related activities
excluding crop production (AGEGC).
The fact that sectors like trade and construction are important contributors to
the unorganised sector and to informal employment is of significance, given the
argument that it is regulation that is responsible the proliferation of unorganised
units and informal employment. The really stringent form of size-based regulation
applies to the manufacturing sector, in which units that meet the criteria set by the
Factories Act, 1948 need to register themselves and be subject to factory legislation.
This legal distinction does not apply to non-agricultural sectors outside
manufacturing. Between 2004-05 and 2011-12, total employment in the country rose
from 457.9 million to 472.4
million. Over the same period
employment in the organised,
non-agricultural sector,
defined to include all units
with 10 or more workers if
using power and 20 or more
workers if not using power,
rose from 28.8 million to 47.7
million, whereas employment
The unorganised sector rose
Source: National Sample Survey Organization from 185.4 million to 209.6
million. That is organised sector employment stood at 6.3 per cent and 10.1 per cent
respectively of total employment in 2004-05 and 2011-12. In absolute terms there
were more who joined the unorganised sector’s workforce than the number who
entered the organised sector between the two years. Even in 2011-12, as much as 86
per cent of workers in the private sector and 50 per cent in the public sector were in
units that could be designated as unorganised based on employment size.
India's Slowing GDP Growth is not Effects of Demonetisation
The Indian Central Statistics Office has just released the prediction of GDP
growth for this fiscal year, taking us up to the beginning of April (when India's new
fiscal year starts). This shows a slowing to 7.1% in said growth. Some are ascribing
this to the effects of demonetization but the forecast is based almost entirely upon
pre-demonetization information. Which is interesting, because it means that when we
come to look back at the period with real data, not forecasts, we've now got a
benchmark against which we can measure the effects of that removal of theRs500
and Rs 1,000 notes from the economy. Or perhaps more accurately, the disruptions
caused by that removal.
The estimate released by the Indian Central Statistics Office for the fiscal
year ending March 31 compared to 7.6 percent last year. The estimate is mostly
based on data available through October, so likely it does not show the full impact of
demonetization, which was announced on Nov. 8.Source: NY Times
Investment Slide
This delay in household spending has also likely pushed back investment
growth with firms already sitting on vast unused capacities in consumption-linked
sectors. This will likely have a strong bearing on gross fixed capital formation
(GFCF), a proxy for measuring investment activity. GFCF, at constant 2011-12
prices, will likely fall (-) 0.2 percent in 2016-17 compared to a 3.9 percent expansion
2015-16. There are signs of slowdown in almost all sectors, barring the government,
where a pay bonanza to 4.7 million staff and 5.5 million pensioners have pushed up
spending. The manufacturing sector, is estimated to grow at a slower 7.4 percent in
2016-17 from 9.3 percent last year, while the mining sector is set to contract (-)1.8
percent in 2016-17 from a 7.4 percent growth in the previous year. Growth in the
construction sector, a large employer for unskilled labourers, will likely moderate to
2.9 percent this year from 3.9 percent last year. Construction activity has been among
the worst-hit by the currency drain out, with most contract labourers working on
sites paid in cash.
Farm Push
Good rains this year have likely helped in raising farm income. Agriculture is
set to grow at 4.1 percent this year, compared to 1.2 percent in the previous year.
Part of this expansion, however, can also be due to a low base-effect—a statistical
phenomenon that magnifies small changes. India was hit by two successive droughts
in the last two years.
Major Sects Percentage Lakh Cr INR
Private Final Consumption Expenditure 6.50% 67.1
Gross Final Consumption Expenditure 23.80% 13.9
Gross Fixed Capital Formation -0.16% 35.35
Source: Money Control
For economies are complex things with many moving parts. I've already
pointed out that the inflow of money into bank accounts will reduce interest rates and
that has a stimulatory effect upon economic growth. And we're reducing the budget
deficit as some of that black money gets taxed, which will reduce inflation--again
beneficial. But there's yet one more thing we need to consider and that's the effect
upon the money supply. In mathematical terms, velocity of money is the ratio
between GDP and money in circulation—which RBI estimates to be around 1.3 for
India. However by ‘money’, it does not mean the cash that we exchange in day-to-day
transactions (part of something called high powered money or M0). Instead it is broad
money (also known as M3) where you also include bank deposits, post office savings
and other bits and pieces of financial savings. M3 and M0 in India are linked by a
factor of 6—so roughly speaking, R1 of cash in circulation, ultimately adds up to R6
worth of broad money. So, if velocity of money calculated using broad money is 1.3,
then it equates to six-times the amount, or 7.8 with respect to cash in circulation. So
we now have a measure of how quickly transactional cash changes hands in the
legitimate Indian economy. We've the two types of money, M0 and M4 (to use the
English terms) base money and broad. One is just cash and central bank reserves, the
other is that multiplied by the velocity of money and the actions of the banking
system. We're taking some portion of base money out of the system--whatever portion
of black money simply vanishes as a result of demonetization. A decrease in the
money supply is contractionary upon the economy. However, look at our problem
here. We've got a good idea of what V, velocity, is in the formal economy. And we
don't know what it is in the informal or black economy.
V= M0+M4
V is the Velocity
M0 is money just in cash and central reserves.
M4 is velocity of money X actions of the banking system.
Which is something of a problem because we can surmise it either way.
We could assume that those who commit their black money quickly move that on so
as to be able to gain more. V in the informal economy would be high therefore. We
might also assume that people stash the cash the bed and it stays there for years.
V would be very low therefore. In fact, we will, obviously, assume that some people do
the one, some the other, and many do either dependent upon their whims. If V is very
much lower in the informal economy then even with the loss of some of that base
money and the move of the rest into the formal banking system then the broad money
supply will expand as a result. That's stimulatory. If V is higher in that informal
economy than in the formal then the demonetization move significantly reduces the
broad money supply and that's contractionary.
Countries Share of Cash
United States 55%
United Kingdom 48%
China 90%
Japan 86%
Source: Bloomberg
Tax Evaders
After demonetization, only 24 lakh (2.4 million) Indians acknowledge an
annual income of Rs. 10 lakh each (Rs. 1 million). “If we look at any big city, it would
have lakhs of people with annual income of more than [Rs.] 10 lakh. Do you not feel,
that for the good of the country, this movement for honesty needs to be further
strengthened?” The upshot of that is his government would now try to bring
hundreds of thousands of tax evaders into the net. To strengthen the tax machinery
sufficiently to force those people to start paying taxes.
Conclusions
My own, as above guess, is that there's going to be a slowdown in the actual
quarter it happened. But I expect a bounce back in the last quarter of this fiscal year,
this period we're just entering now, as the new notes finally each all corners of the
economy. It would not surprise me if most to all of the lost growth is made up either.
If we drop from say 7% to 5%, I could see the next quarter being 8.5% or so. And then
a little bit further into the future I expect a small but permanent step up in the
Indian growth rate. So much of the black money has come back into the banking
system that interest rates are being cut. No, not because the RBI has changed base
rates, this is evidence of an increase in the efficiency of the financial sector,
something which has long lasting effects upon growth.
References
1. Employment and Unemployment Surveys (EUS) conducted by the National
Sample Survey Organisation.
2. Handbook Of Statistics On Indian Economy by RBI
3. Economy Insight November 18, 2016 by Ambit Capital Pvt. Ltd
4. Asian Development Outlook 2016 Update by Asian Development Bank (ADB)
5. A research note by Indranil Sen Gupta, Bank of America - Merrill Lynch
Mr. G. Shiva
Assistant Professor, Department of Commerce,
Maharaja Arts and Science College
ABSTRACT
The paper aims to identify the impact of shopping experience towards consumer loyalty in
organized retail outlets. The loyalty programs are important elements in firms like retail,
apparels, airlines, and hotels, which act as incentive schemes which benefits consumers when
they making repeated purchases. The impact of loyalty programs on the consumer purchase
behavior can be measured by identifying the benefits to the customers and also to the company.
In recent trend customer loyalty and customer satisfaction has become very important for
retailers. The retailers must focus on satisfying the needs and wants of existing customers since
generating a new customer costs more than satisfying an existing customer. The retailer must
satisfy the expectations of the customers to generate profit and to survive in the market.
The paper tries to identify the level of satisfaction and customer’s loyalty towards the store.
The retailers must develop loyalty programs to promote retention of their existing customers
considering the emergence of online retail. Indian retailers are offer wide range of attractive
tangible and intangible rewards to their customers in order to retain them and enhance the
retail performance. The loyalty programs generated huge proportion of sales and profits from
the customers.
Key Words: Retail, Loyalty Programs, Consumer purchase behavior, Rewards, Customer
satisfaction, Customer loyalty
Introduction
Indian Retail sector has witnessed corporate attention that big players like
Tata, Birla, Reliance, Pantaloon groups etc., are entering into it. The entry of these
big players in retailing has caused a major revolution in retailing formats and
infrastructural front. Indian organized retail market is growing at a fast pace due to
the boom in the India retail industry. This intensive growth in the organized retail
market is due to the change in the behavior of the consumers. This change has arisen
with the consumer due to increased income, changing lifestyles and patterns of
demography and many other factors. Businesses have now realized that their success
lies in customer retention and building customer loyalty. Research findings have also
supported this realization that it costs up to five times more to acquire a new
customer than to retain an existing customer. The members receive a combination of
attractive tangible rewards (gifts, discounts, reward points etc.) and intangible
rewards (invitation to special events like fashion shows, exclusive preview of new
items etc.) to raise customer loyalty. Customer satisfaction and customer loyalty are
the most important elements of customer retention. Various activities are done by the
retailers to have a sufficient retention of loyal customers. Concept of Loyalty
Programs Loyalty Programs allows consumers to accumulate free rewards when they
make repeated purchases with a firm and therefore encourages the consumers to be
loyal to the firm. Loyalty card is a plastic or paper card, identifies the card holder as
a member in a loyalty program. Loyalty Cards typically have a barcode or magnet
stripe that can be easily scanned when it is swapped at the particular stores. Loyalty
programs are generally offered by retailers and in the service industry. The goal is to
gain knowledge of the customer and to increase customer retention and purchase
frequency. Loyalty cards are the easiest and cheapest way of running the loyalty
programs. This type of loyalty programs is more applicable in organized retail sector.
A loyalty card is a mechanism for identifying and rewarding the loyal customers in a
way to make them feel special and rewarded. The various types of cards are Point
cards, multi retailer cards, co-branded cards, store cards etc. The customers are
awarded with points according to their purchase on each transaction under loyalty
card scheme. The points collected can be further used as rewards which can used at
future purchases as discounts, gifts etc.
The retailer or group of retail shop may issue a loyalty card to a consumer
which can be used as identification to the retailer. By presenting the card, the
consumer or purchaser is typically entitled to either a discount on the current
purchase, or an allotment of points that can be used for future purchases. Customer
Loyalty Programs: Use of technology and database equipment have made possible for
retailers to make attempts at customer retention through database marketing
programs. Establishing a detailed client database may help retailers to keep track of
personal information and individual preferences of their customers. This enables
them to provide better service and value. With effective implementation of customer
databases, retailers may reestablish contact with customers, and work successfully
towards increasing customer retention, repeat sales, and customer referrals.
Review of Literature
Kumar and Purkayastha (2013) examined the mechanism in which retail
loyalty schemes influence consumers buying behaviour. They study concluded that
loyalty programs and loyalty cards were a regular feature in contemporary retailing.
Retailers across the industry had been widely using this tool in their effort to develop
long term customer loyalty. Alipur and Feizi (2013) found out a positive relation
between relationship marketing and customer loyalty. Their study also resulted into
strong positive relation between trust, commitment, relationship marketing and
customer loyalty. A significant relationship between quality of communication,
conflict management, competence and customer loyalty was also found in the
research. Lajevardi and Fakharmanesh (2013) examined the impact of competency,
ability to establish communication, commitment, ability to solve customer’s problems,
trust and quality of relationship on customer loyalty. The results of the research
revealed that competency, ability to establish communication had a significant
positive effect on customer loyalty. Further, commitment, ability to solve customers’
problems and trust also had a significant positive effect on customer loyalty.
In addition results also showed that ability to solve customers’ problems was the best
predictor of their loyalty. Ramasamy (2013) in his research focused on determining
customer satisfaction in consumer durable white goods in Chennai. He found that
overall quality; usage experience pre sales, after sales service, sales person’s
behavior, repair, reliability, customer service and product compatibility were
independent variables had positive impact on customer satisfaction and worthiness,
responsiveness, warranty, loyalty programs; competitive prices were the factors that
had negative impact on customer satisfaction. Manjunath and Aluregowda (2013) in
their study tried to find out the factors that affect brand loyalty. The research
concluded that brand trust had a relationship with brand loyalty and it affects brand
loyalty in services. Further, brand effect had no association with brand loyalty that
increased the loyalty of an individual towards a brand. Hobson and Mia (2012)
examined the effect of retail service quality dimensions on customer satisfaction and
loyalty. The research uncovered the aspects of service were most desired by
consumers in an emerging market context as well as their effect on generating repeat
business. The results concluded that physical aspects and personal interaction had a
direct relationship with customer satisfaction. Customer satisfaction was also
confirmed to be positively linked to store loyalty. Dehghan and Shahin (2011), in
their research paper entitled “Customer Loyalty Assessment - A case study in
Maddiran, the distributor of LG electronics in Iran” attempted to find out how
customer loyalty could be assessed. The results of this studied implied the need for a
service firm to strategically influence on the key experiences of customer loyalty in its
pursuit of customer retention and long-term profitability
Ramaseshan and Vinden (2009) aimed to identify the determinants of retail
store loyalty for Australian retailers. They concluded that store satisfaction and store
trust had significant influence on consumer’s loyalty to retail store, perceived value
and store affect did not have noteworthy influence on retail store loyalty. Vyas and
Sinha (2008) had concluded that since acquiring new customers is getting costlier day
Research Methodology
Research Design
Descriptive researched been employed to study the impact of loyalty programs
of customer purchase behavior. Data were collected from the potential customers
visiting various organized retail outlets in Coimbatore, Tamilnadu.
Data Collection
The study includes both primary & secondary data. A structured
questionnaire was issued to collect the primary data from the customers visiting
various organized retail outlets in Coimbatore. Secondary data was collected from the
reports, broachers, magazines and website.
Population & Sampling Frame
A convenience sampling method was used to obtain the data from the
customers.
Sample Design
A Sample of 235 respondents was chosen for data collection. It was observed at
the end of the survey (data collected) nearly 35 questionnaires were incomplete. They
were deleted which gave a samples of 200 respondents in total.
It is inferred from table 1 that 39% of respondents are in the age group 26-35
followed by 21% of respondents belong to age group of less than 25 years.
Table - 2: Showing the monthly income of respondents
of using loyalty cards, 19% of respondents stated discounts are the benefits of using
loyalty cards.
It is inferred from table 12 that most of the respondents (44%) ranked no I for
Kannan Department store for satisfaction towards loyalty programs. Analysis and
Discussion Loyalty Programs are a unique business model, as they provide significant
benefits for all three stakeholders at the same time; customers, program owner and
program partner. Customers can use points that were accumulated for everyday
spending and will therefore experience a discount. The program owner will either
secure existing business or will experience new and incremental business. The same
benefit goes to the partner of a program. They will take advantage from a larger
customer base, making incremental business as well.
Limitations
Some of the respondents were reluctant in answering the questions.
The study was done at Coimbatore district, may obtain different consumer
behavior at other places. Suggestions Retailers need to focus on delivering
(selling) experience along with products. Customers find it difficult to carry
different loyalty cards every time they go for shopping. Hence any of the following
methods can be employed.
1. Providing “one card for all” would reduce the burden of carrying many cards at
the same time.
2. Code based usage is the option to remove the card system and allot the customers
special codes. This would just require the customers to remember the code every
time they go for shopping.
3. Integration with the debit/credit card is the best possible option is to integrate the
loyalty card with the credit card. Customers always carry their respective credit
card for shopping this will ensure that customer is not required making any
additional effort to avail the benefits of a loyalty card.
4. Integration with mobile number will make easy access to loyalty program.
5. Retailers can send SMS or E-mail to customers about incentives, offers and
promotion schemes to loyal customers.
Conclusion
Retailers are exploring how to influence technology such as predictive
software to uncover delicate buying patterns and identify customers who may be
likely to buy in categories they have never bought in before. Many are making greater
use of the internet to promote their loyalty program through accessible and
informative websites and targeted e-mail. As customer loyalty being one of the most
important factors for the business today, loyalty programs, loyalty card and other
value added service, if well designed and implemented, can help the business gain
competitive edge and can hence increase profitability. The focus of customer loyalty
programs across the retail chains has been to implement point based loyalty systems
making it more of a monetary incentive rather than a positive emotion-producing
event. A retailer may indulge into identifying such factors that increase the feel good
factor and satisfaction to provide a unified experience from loyalty programs.
This involves adapting retailer’s approach to suit specific customer segments.
References
1. Jyothi Kumar, MalabikaPurkayastha (2013), “Study on the impact of retail
loyalty programs on consumers’ buying behavior”, IJRIM, Vol. 3, Issue 1,
pp. 59-68
2. Seyyedeh Mohaddeseh Seyyednejad, Hossein Alipur and Mohammad Feizi (2013),
Surveying the Relationship Between Relationship Marketing and Customer
Loyalty Case Study: Pasargad Bank in Mazandaran province, International
Journal of Management and Social Sciences Research (IJMSSR, Volume 2, No. 3,
pp. 71-75
3. Javad Emami, Masoud Lajevardi and Sina Fakharmanesh (2013), “An Integrated
Model in Customer Loyalty Context: Relationship Quality and Relationship
Marketing View Australian Journal of Basic and Applied Sciences, Vol. 7, Issue 2,
pp. 399-407
Introduction
GST would be introduced from April 1, 2010, and that the Empowered
Committee of State Finance Ministers would work with the Central Government to
prepare a road map for introduction of the GST. After this announcement, the
Empowered Committee, as stated earlier, had set up a Joint Working Group which
submitted a report on a model and road map for GST. After accommodating the
views of the States appropriately on this report, the views of the Empowered
Committee on the model and road map were sent to the Government of India on 30th
April, 2008. The comments of the Government of India were received on
12th December, 2008. These comments were duly considered by the Empowered
Committee in its meeting held on 16th December, 2008 and it was decided that a
Committee of Principal Secretaries/Secretaries Finance/Taxation) and
Commissioners of Trade Taxes should consider the comments received from the
Government of India and submit its views and also work out the Central GST and
State GST rates. The Committee held detailed deliberations on 5th and 6th January,
2009, and submitted its recommendations to the Empowered Committee.
federal flexibility, and also for facilitating the introduction of GST, it is being
discussed whether the exempted list under VAT regime including Goods of Local
Importance may be retained in the exempted list under State GST in the initial
years. It is also being discussed whether the Government of India may adopt, to begin
with, a similar approach towards exempted list under the CGST. The States are of
the view that for CGST relating to goods, the Government of India may also have a
two-rate structure, with conformity in the levels of rate nder the SGST. For taxation
of services, there may be a single rate for both CGST and SGST. The exact value of
the SGST and CGST rates, including the rate for services, will be made known duly
in course of appropriate legislative actions.
Zero Rating of Exports
Exports would be zero-rated. Similar benefits may be given to Special
Economic Zones (SEZs). However, such benefits will only be allowed to the processing
ones of the SEZs. No benefit to the sales from an SEZ to Domestic Tariff Area (DTA)
will be allowed.
GST on Imports
The GST will be levied on imports with necessary Constitutional
Amendments. Both CGST and SGST will be levied on import of goods and services
into the country. The incidence of tax will follow the destination principle and the tax
revenue in case of SGST will accrue to the State where the imported goods and
services are consumed. Full and complete set-off will be available on the GST paid on
import on goods and services.
Special Industrial Area Scheme
After the introduction of GST, the tax exemptions, remissions etc. related to
industrial incentives should be converted, if at all needed, into cash refund schemes
after collection of tax, so that the GST scheme on the basis of a continuous chain of
set-offs is not disturbed. Regarding Special Industrial Area Schemes, it is clarified
that such exemptions, remissions etc. would continue up to legitimate expiry time
both for the Centre and the States. Any new exemption, remission etc. or
continuation of earlier exemption, remission etc. would not be allowed.
IT Infrastructure
After acceptance of IGST Model for Inter-State transactions, the major
responsibilities of IT infrastructural requirement will be shared by the Central
Government through the use of its own IT infrastructure facility. The issues of tying
up the State Infrastructure facilities with the Central facilities as well as further
improvement of the States’ own IT infrastructure, including TINXSYS, is now to be
addressed expeditiously and in a time bound manner.
Harmonious Structure of GST and the States’ Autonomy in a Federal
Framework
As a part of the exercise on Constitutional Amendment, a special attention
would be given, as mentioned earlier in para 3.2, to the formulation of a mechanism
for upholding the need for a harmonious structure for GST along with the concern for
the States’ autonomy in a federal structure.
Conclusion
The incidence of tax will follow the destination principle and the tax revenue
in case of SGST will accrue to the State where the imported goods and services are
consumed. Full and complete set-off will be available on the GST paid on import on
goods and services.
Introduction
Banking has played a very important role in the economic development of all
the nations of the world. In fact, banking is the life blood of modern commerce. A part
from their traditional business oriented functions, they have now come out to fulfill
national responsibilities. Banks cater to the needs of agriculturists, traders and to all
other sections of the society. Thus, they accelerate the economic growth of a country.
Dr, L. Hart, says that the banks are “one who in the ordinary course of business
honours cheques drawn upon him by persons from and for whom he receives money
on current accounts. E-banking refers to electronic banking. It is like e-business in
banking industry. E-banking is also called as “virtual banking”.
E-Banking
E-banking means Electronic banking. E-banking can be defined as the
automated delivery of new and traditional banking products and services directly to
customers through electronic, interactive communication channels. Systems of
banking in which customers can view their account details, pay bills, and transfer
money by means of the internet. The remote delivery of new and traditional banking
products and services through electronic delivery channels.
ATM
It is a computerized telecommunication device that provides of a financial
institution with access to financial transaction in public space without the need for a
cashier, human clerk or bank teller. On ATM’s customer is identified by inserting a
plastic ATM card with a magnetic strip that contains a unique card number and
identity information.
Mobile Banking
Mobile banking is banking through mobile. Mobile banking is a term used for
Internet Banking
Net banking is a web based service that enables the banks authorized
customers to access their account information. It allows the customers to log on to the
banks website with the help of bank’s issued identification and personal identification
number (PIN). The banking system verifies the user and provides access to the
requested services, the range of products and service offered by each bank on the
entirenet deferens widely in their content. Most banks offer net banking as a value
added service. Net banking has also led to the appear of new banks, which operate
only through the internet and do not exists physically, such banks are called “virtual”
banks or “internet only” banks.
Objectives
Primary Objective
To study the level of customer awareness about the E-banking services in
Madurai City.
Secondary Objective
1. To study the facilities availed by the E-banking users in the study area.
2. To study the level of satisfaction about E-banking services.
3. To offer suitable suggestion to promote the awareness of the customers about
E-banking services
Literature Review
Daniel (1999) defines electronic banking as the delivery of banks' information
and services by banks to customers via different delivery platforms that can be used
with different terminal devices such as a personal computer and a mobile phone with
browser or desktop software, telephone or digital television. Electronic banking
consists of any system that uses electronic signals tore place people or paper.
Karja luoto (2002) electronic banking is a construct that consists of several
distribution channels. Abid et al., (2006,) “Any use of information and communication
technology and electronic means by a bank to conduct transactions and have
interaction with the stakeholders”. Electronic banking provides ease and facilities to
their customer. Electronic banking provides convenience to their customer to use
bank website for all kind of transactions in secure environment. Customers can
interact with bank website 24 hours day and seven days a week
Research Methodology
The study is based primary and secondary data. The primary data were
collected with the help of interview schedule. The secondary data were collected from
journals, books and websites. The respondents were selected by convenience sampling
method. To analyze, the data, the SPSS (statistical package for social science) was
Interpretation
The ‘p’ value, that is Pearson chi-square test reads a significant level of 0.000
at 5% level of significance. This value of 0.000 being less than the significance level of
0.05, the null hypothesis is rejected. Hence, there is association between the age of
respondents and using .the e-banking services frequently
Mann-Whitney U Test
Null Hypothesis Ho2: There is no significant difference in the ranks given by
the two groups (gender) to select the e-banking account opening for user friendliness.
Alternate HypothesisHA2: There is significant difference in the ranks assigned by the
two groups (gender) to select the e-banking account opening for user friendliness
Interpretation
As computed p value is more than the assumed value of 0.05, the above null
hypothesis is rejected. Hence, there is significant difference in the ranks assigned by
the two groups (gender) to select the e-banking account opening for user friendliness.
Male have given minimum mean rank to select the e-banking account opening for
user friendliness. Thus to select opening an e-banking account for user friendliness
by males are more preferred than females.
Suggestions
The bank should come forward with more meaningful advertisements and
awareness campaigns to create awareness among the customer’s regarding an
e-banking services and to make an e-banking popular among the entire age and
income group. The bank should come forward with more advertisements through the
flex in the bank so the customers may easily understand how to operate the
e-banking services at the counter of all banks.
Conclusion
Most of the respondents are aware of e-banking either fully or partially. In the
modern world where money plays an important role for survival, E-banking helps the
people to renter service whenever needed by them and also during emergency
conditions. E-banking are the most preferred choice followed by ATM, Internet
banking, Mobile banking in terms of the frequency of usage for the benefits accrosing
time savings come out to be the major benefit followed by easy processing,
inexpensive, and easy fund transfer, bill payment etc. some of respondents are
account holders of different banks, and they have been availing the e-banking
facilities provided by the banks. In many advertisement can play a major role in
making people aware of e-banking technologies, e-banking is useful and they will use
it in future. So our country will get super power in the year 2020.
References
Journals
1. Abid, H. and Noreen, U. (2006), “Ready to E-bank: An exploratory research on
adoption of e-banking and e-readiness in customers among commercial banks in
Pakistan”, Spider, 31 (2), pp. 1-31. Daniel, E. (1999), “Provision of electronic
banking in the UK and the Republic of Ireland”, International Journal of Bank
Marketing, 17 (2), pp 72-82.
ABSTRACT
Financial liberalization and technology revolution have allowed the developments of new and
more efficient delivery and processing channels as well as more innovative products and
services in banking industry. Consumers are becoming increasingly discerning and have
become more involved in their financial decisions. For this reason, they are demanding a
broader range of products and services at more competitive prices through more efficient and
convenient channels. A great number of people are shifting to online banking and are readily
accepting the usefulness of this bounty. Therefore E- Banking is considered to be important in
recent era. This paper presents the Attitude of the user of E- Banking in Indian Bank.
Questionnaire were framed and tested with statistical tools. Suitable suggestions based on the
findings were given.
Keywords: E- Banking, Indian Bank.
Introduction
In the past few years there has been a high growth in internet markets where
companies and investors can buy and sell initial public offerings of corporate stock.
Internet based banks were also started to emerged and it is an umbrella term for the
process by which a customer may perform banking transactions electronically
without visiting a brick-and-mortar institution. This signifies the term E-banking
which encompasses the entire sphere of technology initiatives that have taken place
in the Banking industry. It is a generic term making use of electronic channels
through internet and mobile phones for delivery of banking services and products.
E-banking came into existence from UK and USA in 1920s. It became
prominently popular during 1960s through electronic funds transfers and credit
cards. The concept of web-based banking came into existence in Europe and USA in
the beginning of 1980s. It has been estimated that around 40 percent of banking
transaction would be done through Net. In India e-banking is of fairly recent origin.
Only in the early 1990s there has been start of non-branch banking services. Several
initiatives have been taken by the Government of India as well as the Reserve Bank
to facilitate the development of e-banking in India. To cope with the pressure of
growing competition, Indian commercial banks have adopted several initiatives and
e-banking is one of them. The competition has been especially tough for the public
sector banks, as the newly established private sector and foreign banks are leaders in
the adoption of e-banking. The following were the e-banking products and services:
Automated Teller Machines (ATMs)
Internet Banking
Mobile Banking
Phone Banking
Tele banking
Electronic Clearing Services
Electronic Clearing Cards
Smart Cards
Door Step Banking
Electronic Fund Transfer
The three broad facilities that e-banking offers are:
Convenience- Complete your banking at your convenience in the comfort of your.
There are no queues at an online bank.
24x7 service- Bank online services is provided 24 hours a day, 7 days and 52
week.
In recent years banking through internet became more familiar with more
number of users; hence an attempt is made to find out the customers attitude
towards E-Banking services in Indian Bank.
Review of Literature
The following were some of the studies done under E-Banking.
Suresh (2008) in his study highlighted that recently developed e-banking
technology had created unpredicted opportunities for the banks to organize their
financial products, profits, service delivery and marketing. The objectives of the study
were to evaluate the difference between traditional and e-banking, and to identify the
core capabilities for the best use of e-banking. The author analyzed that e-banking
will be an innovation if it preserved both business model and technology knowledge,
and disruptive if it destroys both the model and knowledge. He also differentiated e-
banking from traditional banking in five ways, namely, value proportion, market
scope, cost structure, profit potential and value network. However, in order to exploit
technical and business capabilities of e-banking, banks should generate more
customers inside and outside India so that more revenues could be generated that
lead to better future of Indian economy.
Ramani (2007) has made a study titled, “Impact of e-payment system on
Indian banking sector”. E-payment was required for handling large volume of
business payment and remittances for hassle free, quicker and faster payment
remittances at low cost, and paperless transactions. The researcher highlighted
various steps taken by RBI for the e-payment. It includes RTGS, deferred net
settlement system such as electronic clearing services debit and credit, electronic
fund transfer and NEFT. The researcher studied that these methods had increased
the use of core banking solutions, data warehousing and data mining. E-payment had
reduced the chances of fraud, improved customer service by cutting the delay in
payment obligation. Heng Michael et al. (2006) analyzed the impact of e-banking on
brick and mortar banks through innovation model. The researchers’ analyzed 8 core
capabilities to assist the banks migrated to e-banking environment. Their capabilities
Objectives
1. To Study the Profile respondents using E- Banking services in Indian Bank.
2. To analyse the level of Satisfaction of the respondents towards E-Banking.
3. To find out the opinion of the respondents regarding the Usage and Problems of
E- Banking.
Statement of Problem
Demonetisation issues in India motivated the people for cashless transaction
and many business units also pave the way for cashless transaction.
These transactions were carried down with the help of E-Banking. It allows the users
to transfer money, pay bills and more. Therefore this paper concentrated on
E-Banking and attitude of the users towards it. Most of the banks in India were
availing E – Banking services to its customers. Among them Indian Bank have more
number of user in E-Banking while comparing with other nationalized banks. Hence
this paper is titled as “Attitude of E-Banking user in Indian Bank- with special
reference to Madurai city”.
Methodology
The sample design chosen for the study was simple random sampling and with
sample size of 100. The customers who were using E-Banking services in Indian Bank
were selected as respondents. The study area was Madurai city. Questionnaire were
framed and the results were obtained using Friedman test, ANOVA, sign test and
percentage analysis.
Govt. employee 18
Private employee 40
Occupation
Self employed 22
unemployed 10
Below 10000 36
Income Range (Rs.) 10001-15000 30
(per month) 15001-25000 22
Above 25000 12
Source: Computed Data
The above table 6.1 shows the profile of the respondents. Majority of the
respondents (48%) were in age group between 31 – 40 years. 48% of the respondents
were male and they had completed UG. 52% of the respondents were married. Most of
the respondents (40%) were private employees and with income below Rs.36000.
Conclusion
Electronic banking services increase the customer’s active involvement in the
banking system. The banker must create more awareness about the different
electronic banking services and the method of usage of services. The banker may
enlighten its regular customers by conducting demo-classes of the new e-devices at
periodical intervals. The suggestions made will enable the bankers to formulate
necessary policies on electronic banking in general and on different channels of
electronic services in particular, to function and perform better.
Introduction
The Government has implemented a major change in the economic
environment by demonetizing the high value currency notes of Rs.500 and Rs.1000.
These notes are ceased to be legal tender from the midnight of 8 th of November 2016.
In a very bold and historic move by the Honorable Prime Minister of India,
Shri Narendra Modi, all currency in denominations of INR 500 and INR 1,000 have
ceased to be an illegal tender effective from the 9th of November 2016. This proposal
by the Government involves the elimination of these existing notes from circulation
and a gradual replacement with a new set of notes.
This act of demonetization aims toundermine or eliminate the stock of
"black money" out of the economy and to control the counterfeit notes contributed
to terrorism. Some of the new objectives arealso tacked by demonetisation such
as enabling growth in bank credit and turning India into a cashless economy.
Negative Effects
The Prime Minster Narendra Modi's decision to scrap high value notes has
certain negative effects such as:
Shortage of cash in the system
leading to a lot of discomfort for the public and businesses
shortage of newly printed notes i.e., Rs.500 and Rs.2,000 notes
Research Methodology
This paper is prepared with the support of secondary sources such as
magazines, newspapers, reports, dissertations, thesis and e-materials.
are looking this sector as a potentially promising avenue for economic and human
development. It is an industry with great employment potential. This industry
generates foreign exchange for the country and injects capital and new money into
the local economy.
various issues such as Terrorism, Political unrest, Lack of security, Regulatory issues
and High taxation. Many foreign trips sponsored by big brands largely done through
cash transactions is negatively affected due to the ongoing cash crunch. These
industries are facing a tough time. The industry has been severely affected, as the
hotels have lost a large number of pay-in-cash-only clientele due to demonetization.
Around 60 percent drop in hotel bookings have been reported.
The domestic tourists and tourists coming to India from other countries
(Inbound tourists) have faced some issues due to the ongoing process of
demonetization. Making payments with notes in the denomination of INR 500 and
INR 1,000 would no longer be accepted at most places. The tourists who wants to
move toabroad from India (outbound tourists) can book tickets through local agents.
Cash Payments to agents and Currency exchange was not possible for them due to
demonetization.
Conclusion
Today tourism industry has more inclusive of new concepts which requires the
support of Government to flourish. This industry contributes more to the economic
development through GDP, Foreign Exchange earnings, receipts, tax revenues and
Foreign Investments. Many leading destinations have considered tourism is one of
the most promising avenue for the development of their country. The lack of available
currency will force some hospitality customers to either postpone / cancel their travel
and accommodation or to use hospitality products that easily allow the use of the
other modes of payments. Most of the hotel in the country is in the unorganized
sector, which do not have enough facilities such as online payments. This could
witness some stress in the short term. The International travel to India has also
dropped by 45 percent. Cash crunch has adversely affected the liquidity of currency
exchanges in the country. Therefore, It is imperative to take some initiatives by both
central and State Governments for the growth of the industry.
Suggestion
The following suggestions were recommended:
1. Plan the trip well in advance and make payments through debit and credit cards.
2. Booking and payments for tour packages through online can be a good way to
tackle the this issue.
3. Tourists can make use of some sort of mobile wallet payment such as PayTM,
Free charge and MobiKwik.
4. Tourists can make use of Cards or E-wallets, Pay-U- Money and PayTM to pay for
Accommodation and transportation charges which is an easy solution for the
successful trip.
R. T. Abinaya
Assistant Professor, Mangayarkarasi College of Arts and Science for Women, Madurai
Introduction
Green marketing is the marketing of products that are presumed to be
environmentally safe. Thus green marketing incorporates a broad range of activities,
including product modification, changes to the production process, sustainable
packaging, as well as modifying advertising. Yet defining green marketing is not a
simple task where several meanings intersect and contradict each other; an example
of this will be the existence of varying social, environmental and retail definitions
attached to this term. Other similar terms used are environmental marketing and
ecological marketing.
Green, environmental and eco-marketing are part of the new marketing
approaches which do not just refocus, adjust or enhance existing marketing thinking
and practice, but seek to challenge those approaches and provide a substantially
different perspective. In more detail green, environmental and eco-marketing belong
to the group of approaches which seek to address the lack of fit between marketing as
it is currently practiced and the ecological and social realities of the wider marketing
environment.
The legal implications of marketing claims call for caution or overstated
claims can lead to regulatory or civil challenges. In the United States, the Federal
Trade Commission provides some guidance on environmental marketing claims. This
Commission is expected to do an overall review of this guidance, and the legal
standards it contains, in 2011.
Definition
Green marketing refers to the process of selling products or services based on
their environmental benefits. Such a products or services may be environmentally
friendly in itself, or produced and packaged in a environmentally friendly manner.
According to “The American Marketing Association” it has been defined in three
ways,
1. Retailing- the marketing products are presumed to be environmentally safe.
2. Social Marketing- the marketing products are developed and designed to
minimize the negative effects on the physical environment or to improve its
quality.
3. Environment-the effort by the organization to produce, promote, package and
reclaim the products in a manner that is sensitive or responsive to ecological
concerns.
Objectives
1. Organizations perceive environmental marketing to be an opportunity to be used
to achieve its objectives.
2. Competitor’s environmental activities pressure firm to change their
environmental marketing activities.
3. Cost factors associated with the waste disposal or reduction in energy and
material usage forces firms to change their behaviour.
Adoptability
In 1989, 67 percent of Americans stated that they were willing to pay
5-10 percent more for ecologically compatible products. By 1991, environmentally
conscious individuals were willing to pay between 15-20 percent more for green
products. Today, more than one-third of Americans say they would pay a little extra
for green products. An important challenge facing marketers is to identify which
consumers are willing to pay more for environmentally friendly products. It is
apparent that an enhanced knowledge of the profile of this segment of consumers
would be extremely useful. Everett Rogers, communication scholar and author of
“Diffusion of Innovations”, claims that the following five factors can help determine
whether a new idea will be adopted or not, including the idealism of the shift towards
“green”:
1. Relative advantage: is the degree to which the new behavior is believed to
accrue more beneficial outcomes than current practice.
2. Observability: is how easy it is to witness the outcomes of the new behavior.
3. Trialability: is the ease with which the new behavior can be tested by an
individual without making a full commitment.
4. Compatibility: is the degree to which the new behavior is consistent with
current practice.
5. Complexity: is how difficult the new behavior is to implement.
Eco-Labels
An individual's belief that an environmental claim lacks honesty can have a
negative effect on attitude toward a brand. If, on the other side, the consumer grants
credibility to the claim, the individual will behave more respectfully toward the
environment. The problem in extending that credibility to a brand is that consumers
interested in ecological products generally are skeptical of commercial
advertisements. This skepticism is due to various factors such as lack of language,
the absence of scientific knowledge necessary to interpret advertising meaning, and,
in particular, the falsehoods and exaggeration of some advertising techniques.
To resolve this problem, independent organizations may choose to guarantee
messages on the environmental benefits of brands with environmental labeling
systems sponsored by independent organizations. This practice tries to diminish
perceived biases in environmental information by promoting standardization of the
information with the aim of improving confidence in the evaluation of environmental
benefits of products—all of which should positively affect the purchase intention.
Basically, green marketing concerns with three aspects:
1. Promotion of production and consummation of pure/quality products,
2. Fair and just dealing with customers and society, and
8. Strict provisions to protect forests, flora and fauna, protection of the rivers, lakes
and seas from pollutions.
9. Global restrictions on production and use of harmful weapons, atomic tests, etc.
Various organizations of several countries have formulated provisions for
protecting ecological balance.
10. More emphasis on social and environmental accountability of producers.
11. Imposing strict norms for pollution control. Consideration of pollution control
efforts and eco-technology in awarding IS), ISO 9000, or ISO 14000 certificates
and other awards.
12. Declaration of 5th June as the World Environment Day.
13. Strict legal provisions for restricting duplication or adulteration.
14. Establishing several national and international agencies to monitor efforts and
activities of business firms in relation pollution control and production of eco-
friendly products.
Conclusions
1. It is our responsibility to do value addition to our cultural products (green
products) by promoting green products.
2. The customers are not concerned about environmental issues or will not pay a
premium for products that are more eco-responsible.
3. Green marketing is still in its infancy and a lot of research is to be done on green
marketing to fully explore its potential.
ABSTRACT
Data clustering is a primary data mining method for knowledge discovery and an efficient
technique for data analysis. Dynamically changing databases of huge size exist in almost every
organization. Repeating the complete mining process from scratch whenever significant
additions were made to the existing database is analogous to reinventing the wheel.
Incremental clustering has emerged as a promising research area which aims to avoid the
redundant processing by inventing techniques that adapts the results of clustering on existing
databases in accordance with the recent additions. Conventional clustering algorithms assume
more or less uniformly distributed entities to constitute a cluster. However, some real world
scenarios like changing patterns of housing in urban areas, growth patterns of communities in
social networks demand for clusters with non-uniform distribution of entities containing both
dense as well as sparse areas in a single cluster. In the context of incremental clustering of non-
uniformly distributed clusters while adopting the existing patterns or clusters to the newly
arrived significant chunk of entities, it is often required to expand the existing cluster
boundaries depending on data dispersion while ensuring minimal loss of cluster cohesion.
Specifically, expansion of the cluster boundary on sparser side is encouraged compared to
denser side. In effect, the acceptability of an entity on sparser side is higher compared to the
acceptability of an equidistant entity from the denser side. Existing distance metrics widely
used in conventional / incremental clustering algorithms are not suitable to estimate the
proximity of an entity to a cluster with non-uniformly distributed entities. Such situations
demand for different proximity metrics & algorithms which consider dispersion of data points
within a cluster in addition to conventional distance estimation of a data point to the cluster
for formation as well as incremental maintenance of clusters.
A new proximity metric called Inverse Proximity Estimate (IPE) which is capable of
discriminating the entities as per the requirement of simulating the growth of a non-uniformly
distributed cluster has been proposed. Two clustering algorithms namely Cluster Feature-
Based Incremental Clustering Approach for Numerical Data (CFICA) and Cluster Feature-
Based Incremental Clustering Approach to Mixed Data (M-CFICA) were proposed, designed,
implemented and evaluated by the author for incremental cluster formation to process datasets
containing purely numerical attributes and datasets containing all types of attributes
respectively. While developing M-CFICA to handle entities with heterogeneous attributes
including categorical attributes, the author has devised an information-theoretic dissimilarity
metric named Normalized Dissimilarity to find the distance between entities in terms of
categorical attributes which is combined with Normalized Euclidean Distance to form mixed
distance which is used for estimating the Inverse Proximity Metric while dealing with datasets
containing all types of attributes. The performance of these incremental algorithms was tested
on benchmark datasets available in UCI repository as well as hypothetical datasets.
Introduction
“Computers promised a fountain of wisdom, but delivered a flood of data”
- Statistician David Wishart
The rapid growth in technology and recent advances in storage capacity and
processing speeds has provided us with the ability to keep a virtually limitless
Characterization
It is a summarization of general features of objects in a target class by
producing characteristic rules.
Discrimination
It is a comparison of the general features of objects between two classes
referred to as the target class and the contrasting class by producing discriminate
rules.
Classification
Some of the classification models are decision trees, neural networks,
Bayesian belief networks, support vector machines and genetic algorithms.
Prediction
Prediction is based on the idea of using a large number of past values to
predict probable future values.
Clustering
Similar to classification, clustering is the organization of data in classes.
However, unlike classification, in clustering, class labels are unknown and it is up to
the clustering algorithm to discover acceptable classes.
Association analysis
Association analysis is the discovery of association rules. It studies the
frequency of items occurring together in transactional databases.
Literature Review
Data clustering is a thrust area of research for statisticians as well as data
mining researchers which resulted in the development of a vast variety of successful
clustering algorithms. These algorithms can be categorized based on different issues
like density-based, model-based, and grid-based. In addition to this categorization, a
clustering algorithm can either be incremental or non-incremental. Incremental
clustering has attracted the attention of the research community with Hartigan’s
Leader clustering algorithm [Hartigan 1975] which uses a threshold to determine if
an instance can be placed in an existing cluster or it should form a new cluster by
itself.
The LEADER algorithm partitions a data set into groups by virtue of a radius
distance (T). A leader object is associated with each group and all other objects in the
group lie within the distance T from that object. The first data point is selected and
assigned as the first leader object, A. Subsequently, the remaining samples are
examined and those that are within the distance T are assigned to group one.
The first data sample examined that falls outside the radius T is assigned as the next
leader object, B. This procedure is iterated to identify cluster centre C as well as the
remaining centers. It requires processing a data record only once. Though the
LEADER algorithm was originally devised to handle static databases only, its
methodology naturally accepts dynamically arriving data records. Hence was
considered as a forerunner of incremental clustering algorithms. Similarly there are
some more algorithms which are designed originally for static databases that could
handle incrementally growing databases. For example, COBWEB and CLASSIT
algorithms are designed for categorical and numerical datasets respectively.
The GRIN algorithm, [Chen et al. 2002] is an incremental hierarchical clustering
algorithm for numerical data sets based on gravity theory in physics. It delivers good
clustering quality with O(n) time complexity as it is immune from the order of input
data and the optimal parameter settings are not sensitive to the distribution of the
data set. The incremental nature of the GRIN algorithm implies that it is particularly
suitable for handling the already huge and still growing databases in modern
environments. Its hierarchical nature provides a highly desirable feature for many
applications in biological, social, and behavior studies.
Al-Razgan et. al. focusses on ensembles for categorical data to the partitions
provided by the COOLCAT algorithm [Al-Razgan et. al., 2007]. It incrementally
builds clusters based on the entropy criterion. Formally, the entropy measures the
uncertainty associated to a random variable. Let X be a random variable with values
in S(X), and let p(x) be the corresponding probability function of X. The entropy of X
is defined in Eq. 2.2 as follows:
clustering algorithm CFICA can be performed without requiring to read the actual
data points ( probably maintained in hard disk ) constituting the clusters. The data
points need to be refreshed only when the cluster solution has to be refreshed due to
concept-drift.
used the Purity Measure to evaluate the clustering results obtained. A cluster is
called a pure cluster if all the objects belong to a single class. The performance of
CFICA is evaluated on Iris dataset, Wine dataset and Yeast dataset using purity.
The purity measure described in [Huang 1998, Xiaoke et al. 2009] has been used for
evaluating the performance of both CFICA and M-CFICA. The evaluation metric
used in CFICA is given below,
Purity = ∑ Xi
where, Number of data points in the dataset N
Number of resultant cluster T
Number of data points of majority class in cluster i Xi
If the clustering accuracy is 100%, it means that there only pure clusters.
Higher the clustering accuracy, purer the cluster in terms of the class labels of its
members and better the clustering results. So a large clustering accuracy value
implies better clustering and similarly a low clustering error rate indicates the best
clustering.
Performance Evaluation
The Cluster Purity of CFICA and BIRCH
Purity
No. of clusters (K) CFICA BIRCH
4 0.8 0.539
8 0.8 0.528
12 0.8 0.524
16 0.82 0.556
20 0.83 0.573
Conclusion
The performance of M-CFICA is compared with K-PROTOTYPES algorithm
which is the most preferred algorithm to handle mixed datasets and has been
evaluated on bench mark datasets as well as hypothetical datasets. The results were
presented in chapter 5 and were found to be on par with K-PROTOTYPES algorithm
for census income dataset and better for hypothetical datasets. The comparative
statement in support of the authors claim was presented. The proposed incremental
clustering algorithms can be extended to handle scalability problem for dealing with
very large databases which are non-memory resident. The database may be processed
incrementally chunk by chunk, the size of the chunk being decided based on the
availability of RAM. Both CFICA and M-CFICA can be extended to deal with data
streams like time-series data for trend analysis to capture concept - drift as the time
progresses. The Inverse Proximity Estimate (IPE) along with the growth rate of
newly formed very small clusters can be used to estimate the outlier score of data
points for detecting the outliers in the context of dynamically growing datasets with
non-uniformly distributed clusters. This research work may be extended to
explore the customer Relationship Management (CRM) domain for modeling the
changing interests of the customers with respect to changing lifestyles through
generations and urbanization.
S. Sathya
Assistant Professor – Department of Commerce (CA)
Mangayarkarasi College of Arts & Science for Women, Paravai, Madurai
ABSTRACT
In the current trend of cashless transaction used by the M-Commerce system of Marketing.
It has important role of economic growth of Indian economy. M-Commerce is defined as any
transactions with monetary value that is conducted via a mobile Tele- communication network.
M-Commerce like E-Commerce can be B2B (Business to Business), P2P (Person to Person) or
B2C (Business to Customer) oriented .So in this study conclude about the challenges
forecasting into the M-Commerce marketing system.
Introduction
With growing momentum of M-Commerce revolutions, the transactions are
rapidly transmitting from fixed locations to anytime, anywhere and anyone.
New forms of mobile technologies are rapidly transforming the market place.
Optimists are of the opinion that the new world economy will witness the
transactions of mobile devices from a simple communications device to a payment
mechanism.
2. To find out the market risk analysis into the M-Commerce system.
3. To analysis about the retail sales growth rate in the M-Commerce system.
Methodology
In this study based on primary and secondary data.
The questionnaire has been used to collect the primary data from the
consumers. In this used simple random sampling in selecting the consumers.
Secondary data are collected from books, magazines, Journals and websites.
Main problem of M-Commerce system The problem of M-Commerce system
based on the questionnaire view that, most of the consumers were found to be aware
of M-Commerce services but their usage is still very low due to the in-depth
knowledge of operating system of M-Commerce is difficult for them. They should get
the help from the literacy people, but they prefer to M-Commerce system for buying
and selling process. Majority says that convenient for choosing and decision making
in lesser time period. One of the questionnaire participant who were an illiterate auto
driver prefer mobile transaction over cash transaction because it indirectly helping
him to control his unnecessary expenses. It is still a challenge to cover the vast
majority of illiterate people under the M-Commerce services as minimum level of
literacy is required.
In case of mobile banking is not that simple as that needs an individual to
read on SMS and use keypad to enter his/her password and id. So it will be a big
challenge to integrate the illiterate people in the coverage of mobile banking as it
needs some level of literacy.
From the above chart explain that sales growth was 7.78 US billion in 2015,
and doubled in 2016 at 15.27 US billion. And the forecast says that in 26.91 in 2017 ,
39.56 in 2018 , 50.54 in 2019 and 63.53 US billion dollar in 2020.
Limitations
1. The sample was taken random and not covered from the whole area.
2. The analysis part of risk factor is limited.
Suggestion
In the technology world, we should need a new identity for proven high
assurance identity services certify that a person is exactly who they claim to be.
We all deserve to be sure use it. Demand it. Lack of literacy is a common for most of
the developing countries, but is especially problematic for India that more number of
people are illiterate. Therefore it is expected the wide spread of CCPs (Customer Care
Point) can help to overcome the literacy barrier for M-Commerce adaption in India.
The CCPs may become the choice of consumer for conducting Commerce or Mobile
financial services.
Conclusion
In this study conclude about that the challenges facing by the M-Commerce
system can improved through more interactive regional Customer Care Points.
This will encourage more illiterate people to use the M-Commerce. Also by improving
the quality system of security protocols to protect the consumer identification.
Bibliography
Books
1. Vasanti Venugopal, Raghu V.N., Services marketing published by Himalaya
Publishing House.
2. S.A Sherlekar, K.Nirmala Prasad, S. J. Salvadore victor. Principles of Marketing
published by Himalaya Publishing House.
3. Journals
4. National Research Journal of Sales & Marketing Management Volume-, Issue-2,
Year-2014
5. A Comparative Study On "E-Commerce Verses M-Commerce: The Future of
Online Marketing"
Articles
1. Nick Ismail “Shopping via apps will rise and rise” on information age.,19/12/2016
2. Websites
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s+of+m-commerce&oq=what+are+the+factors+affecting+the+challenges+of+m-
commerce&aqs=chrome..69i57.63182j0j7&sourceid=chrome&ie=UTF-8
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/2016/05/27/mobile-commerce-trends-for-the-second-half-of-
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7. http://www.bloombergquint.com/business/2017/01/16/india-may-lose-fastest-
growing-economy-tag-to-china-after-note-ban-says-imf-forecast
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9fbbd/content.htm
10. http://help.sap.com/pcat_crm
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systems-01062011/
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growth-rate-doubles-in-first-quarter/
13. http://www.forbes.com/sites/theyec/2016/05/27/mobile-commerce-trends-for-the-
second-half-of-2016/#2c23d1575bde
ABSTRACT
Ecotourism is often seen as a simple business for land owners to begin because little
infrastructure is needed, however certain marketing plans are needed to effectively operate an
ecotourism business. business operators as a challenge in effectively running their business.
tourism is an important economic activity in most countries around the world. Tourism
industry is recognized as a sector which support and sustainable economic growth. For many
devopingcountries ,and not only tourism is one of the main sources of foreign exchange income
and creating much needed employment and opportunities for development. This paper will
provide insight for developing this skill by describing the contents of a marketing plan and
presenting external resources to assist in ecotourism operation marketing.
Introduction
Eco-tourism is derived from two words - 'Ecosystem' & 'Tourism'. Together it is
made Eco-tourism. Ecosystem is the system in which we live - the system which
include the earth, the water, the sky and of course the living and the non-living
objects in all these systems. Ecotourism is defined as "responsible travel to natural
areas that conserves the environment and improves the well-being of local people."
(TIES, 1990)
“Ecotourism is responsible travel to natural areas that conserves the
environment and improves the well-being of local people.” Eco-tourism is the
earth-friendly and concentrates on environment protection. Empowerment of local
communities; and fosters respect for different cultures and for human rights main
aim is to protect environment and educate about it. Ecotourism seeks to benefit both
the guests and the hosts.
Collection of Data
This study has considered the secondary date. The secondary data has been
collected from books, magazines & newspapers etc.
Objectives
To study about the ecotourism
To study about the marketing plan for eco tourism
To give the conclusion about eco tourism.
Product
A clearly identified ecotourism product/service (i.e., ecotourism opportunities
you provide for your visitors) is the first necessity in delineating the marketing plan.
Eco tourists will visit your business to attain specific experiences they cannot attain
in other areas. For example, natural areas afford opportunities to learn about the
environment (e.g., nature trails), relieve stress (e.g., areas to escape crowds and
urban life), and bond with family and friends (e.g., family and group camping areas).
This section of the plan describes the ecotourism opportunities as well as the
planning, development, and implementation of these offerings. Several specific
characteristics of the product or opportunity should be included in the plan and are
described below.
Price
Pricing is important in meeting ecotourist demands and satisfying the profit
margins. There are several options available when it comes to using a pricing scheme.
These options include selling at, below, or above the current market price.
The current market price is the largest amount a consumer is willing to pay for your
product/service and could be above or below face value. Pricing strategies must be
paired with factors that influence pricing, such as product quality (i.e., consistent
supply of products/services at an acceptable quality level), competition (other private
business owners as well as publicly owned natural attractions in the local area
offering similar products/services), distribution of products/services and consumers,
cost (e.g., capital and maintenance costs), seasonality (i.e., the annual ebb and flow of
product/service consumption), and profit margin (i.e., the sum of net profit and total
operating expenses). Pricing strategies also must consider strategies for new
opportunities such as price skimming (i.e., charging high prices to maximize profit in
the short run) and penetration pricing (i.e., introducing the product/service at a low
price to gain the majority of the market.
Promotion
Promotion is used to create demand for a service or product, attract attention,
create interest or desire, and generate action in order to sell that service/product.
There has to be more promotion of ecotourism products and the level of promotion
should be determined by the carrying capacity of the destination. This section of the
plan is to identify the promotional approaches. Promotion is the communication
persuasion strategy and tactics that will make the product more familiar, acceptable
and even desirable to the audience.
Brands
A product brand is a distinguishable name or symbol (e.g., a logo) to
differentiate the opportunities from those of your competitors (Aaker 1991). Branding
ecotourism operations is particularly unique since the term "ecotourism" implies the
business focuses on conserving the environment, benefiting local residents, and
promoting responsible travel (The International Ecotourism Society 2013. Some
ecotourism operators seek assistance in promoting their operations by using
established brands. Such a brand is offered by The International Ecotourism Society
(TIES). This organization is dedicated to "promoting ecotourism" and one way of
doing so is by allowing member ecotourism operators to use their logo in advertising
initiatives after committing to practice sustainability (The International Ecotourism
Society 2013).
Advertising
Advertising is paid promotion and includes consideration of when, where, and
how to promote ecotourism opportunities. Paid promotions attract consumers to the
ecotourism opportunities being sold and employ media such as internet, newspapers,
television, magazines, radio, and outdoor advertising (Goeldner and Ritchie 2009).
Personal Selling
This technique involves personal communication with ecotourist
consumers/distribution channels and is used to create consumer demand and inspire
selling of ecotourism opportunities (Goeldner and Ritchie 2009). For instance,
ecotourism operators offering multiple, individually priced tours might rely on this
strategy to inform their consumers of other tour options available to them.
Public Relations
Since ecotourism is a "people business," priority must be centered on public
interest during decision-making. As such, fostering a philosophy that is public-
centered within the ecotourism business and establishing policies for this ethic will
aid in promoting the ecotourism services/products to meet Eco tourist needs and
wants.
Social Media
The use of social media for communication is an increasing trend.
Formal outlets such as Twitter, Face book, and MySpace, as well as informal outlets
such as blogs and wikis, provide a platform for marketing the ecotourism business on
the internet.
Internet
The internet has a major impact as a medium for promoting individual eco
tourism products and the considerable potential it presents is widely recognized.
It lends itself well to the ecotourism which is particularly responsive to up to date,
detailed information and reports from previous travelers.
Place
Place is concerned with getting information about the ecotourism operation
and access to the opportunities to provide the target audience. Strategically planning
the approach for supplying information about why and how to access the ecotourism
business will maintain the demand for the ecotourism services.
Distribution Channels
Distribution channels (e.g., travel agents, internet sales) are used to match the
ecotourism opportunities with potential Eco tourists. For instance, we would analyze
potential channels by sales, costs, and profits, determine the outcomes we can expect,
and identify the number of channels necessary to sell the opportunities.
Programming
As a business owner, the goal is to increase consumer spending and the best
way to do this is to diversify the product. Programming options include special
activities, themed events, or education programs. For example, ecotourism operators
offering horseback riding may provide guided night rides for stargazing as a special
activity, agritourism businesses may offer haunted sleigh rides during Halloween as
a themed event, and nature tour operators might invite a local wildlife expert to
share their knowledge in a distinctive education program.
People
Ecotourism is a "people business," "in that" consumers expect a distinctive
experience from their participation. Here you would consider the market group that
would use your products/services (e.g., individuals/families, particular skill levels),
any additional services required (e.g., accessibility, food service, lodging), the varying
characteristics influential on participation (e.g., age, interests, desired experiences),
the location of these consumers (i.e., proximity to your business), and how to best
communicate with them (e.g., internet, newspaper, radio, television, brochures).
Recognizing that not all consumers are alike will give you the advantage to funnel
your marketing efforts towards a specific target market in delivery of that distinctive
experience. These marketing plan components provide insight into the detailed
Partnerships
Ecotourism operators wishing to expand or open a new business without the
resources to do so might find partnerships a viable option. Partnerships recognize the
interdependence between stakeholders in delivering ecotourism experiences and
allow for collaboration.
Public-Private
Public land management agencies (e.g., National Park Service, State Park
Service, and county parks) focus heavily on conservation and protection of the lands
they manage; therefore, they are unable to accommodate much of what ecotourists
might desire. These agencies are routinely looking for partnership opportunities with
the private sector to better accommodate ecotourist demands.
Private-Private Partnerships
Other options exist in delivering ecotourism opportunities and depend on the
size/structure of your ecotourism business. For example, private-private partnerships
consist of ecotourism operators pooling resources to offer package deals. For example,
a local farm might offer a unique tour of its pastures and undeveloped sites, and the
farmer would partner with a local restaurant or caterer to provide a barbecue at the
end of the tour.
Other partnerships
Additional options exist in regards to marketing partnerships. For example,
many ecotourism operators rely on their local convention and visitors bureaus (CVBs)
to assist in marketing their ecotourism business (see below for discussion). Because
the local CVB is the first internet stop for many ecotourist consumers, partnering
with the local CVB for business marketing may result in fruitful economic returns.
These marketing plan components provide insight into the detailed
consideration required for developing ecotourism marketing strategies.
The marketing mix can be planned for and achieved independently; however, there
are external resources available to help in developing your plan.
Conclusion
Marketing is important to ecotourism business development, implementation,
and continued success as it brings ecotourism opportunities from the operator to the
ecotourist. Careful consideration of the specific details of a marketing plan is
warranted for the ecotourism business to be effective in communicating the
opportunities to the best fitting ecotourist market. Practicing the steps you identify in
your marketing plan will assist you in gaining the managerial acumen required for
successfully operating an ecotourism business.
References
1. Tourism and Travel Management by Bishwanath Ghosh.
2. Ecotourism trends and challenges by Raveechauhan
3. http://www.ecotourism.org/what-is-ecotourism
4. http://www2.unwto.org/en/press-release/2012-11-05/international-tourism-strong-
despite-uncertain-economy
5. http://edis.ifas.ufl.edu/fr340
Introduction
Green marketing is the marketing of products that are presumed to be
environmentally safe. Thus green marketing incorporates a broad range of activities,
including product modification, changes to the production process,
sustainable packaging, as well as modifying advertising. Yet defining green
marketing is not a simple task where several meanings intersect and contradict each
other; an example of this will be the existence of varying social, environmental and
retail definitions attached to this term.Other similar terms used are environmental
marketing and ecological marketing.
Green Marketing
The American Marketing Association (AMA) held the first workshop on
ecological marketing in 1975. 1980 was the first time green marketing came into
existence. AMA defines green marketing as the marketing of products that are
presumed to be environmentally safe, it incorporates several activities such as
product modification, changes to production processes, packaging, advertising
strategies and also increases awareness on compliance marketing amongst
industries. Business Dictionary defines green marketing as promotional activities
aimed at taking advantage of changing consumer attitude towards a brand. These
changes are increasingly being influenced by a firm’s policies and practices that affect
the quality of the environment and reflect the level of its concern for the community.
It can also be seen as the promotion of environmentally safe or beneficial products.
Internal Benefits
Marketing starts before a business begins advertising or promoting its
products. It includes strategies covering product development, pricing and
distribution. In addition to helping boost sales, green marketing can help companies
reduce operating and production costs, specifically by lowering energy usage.
Environmentally sensitive companies are more attractive to potential employees who
seek to become part of a positive corporate culture.
External Benefits
When a business uses energy efficient lighting, heating and cooling, reduces its
water use, recycles office materials, organizes employee community cleanup
activities, uses recycled materials and creates less waste, it generates positive public
relations in its community and industry and with customers. It can advertise itself as
a green company or its products as green on its product packaging, in its advertising
and on its website. This can create brand preference or loyalty and boost sales and
profits. Green marketers also can qualify as vendors or suppliers with government
agencies and businesses that prefer to do business with these types of businesses.
The marketing strategies for green marketing include the following points:
1. Marketing audit (including internal and external situation analysis).
1. Develop a marketing plan outlining strategies with regard to the four P’s of
marketing.
2. Implementation of the marketing strategies.
3. Proper review of results.
impact. With global warming looking largely, it is important that green marketing
becomes the norm rather an exception, or just a fad.
overemphasizing the former at the expense of the latter can be termed green
marketing myopia.
Conclusion
Indian market Customers too are ready to pay premium price for green
products. One thing that is being reiterated is that the current consumption levels
are too high and are unsustainable. Therefore there is a need for green marketing
and a need for a shift in the consumer‘s behavior and attitude towards more
environment friendly life styles. Ultimately green marketing requires that consumers
want a cleaner environment and are willing to pay for it, possibly through higher
priced goods, modified individual lifestyles, or even governmental intervention. Until
this occurs it will be difficult for firms alone to lead the green marketing revolution.
An environmental committed organization may not only produce goods that have
reduced their detrimental impact on the environment, they may also be able to
pressure their suppliers to behave in a more environmentally responsible fashion.
Final consumers and industrial buyers also have the ability to pressure organizations
to integrate the environment into their corporate culture and thus ensure all
organizations minimize the detrimental environmental impact of their activities.
EMOTIONAL INTELLIGENCE
Introduction
(EI) refers to the ability to perceive, control, and evaluate emotions.
Some researchers suggest that emotional intelligence can be learned and
strengthened, while others claim it is an inborn characteristic.
Since 1990, Peter Salovey and John D. Mayer have been the leading
researchers on emotional intelligence. In their influential article "Emotional
Intelligence," they defined emotional intelligence as, "the subset of social intelligence
that involves the ability to monitor one's own and others' feelings and emotions, to
discriminate among them and to use this information to guide one's thinking and
actions" (1990).
processes. For example, the lowest level branch concerns the (relatively) simple
abilities of perceiving and expressing emotion. In contrast, the highest level branch
concerns the conscious, reflective regulation of emotion" (1997)
that you, as a leader, manage each of these areas, the higher your emotional
intelligence.
1. Self-awareness If you're self-aware, you always know how you feel, and
you know how your emotions and your actions can affect the people around you.
Being self-aware when you're in a leadership position also means having a clear
picture of your strengths and weaknesses, and it means behaving with humility.
So, what can you do to improve your
2. Self-regulation Leaders who regulate themselves effectively rarely
verbally attack others, make rushed or emotional decisions, stereotype people, or
compromise their values.Self-regulation is all about staying in control.
This element of emotional intelligence covers a leader's flexibility and
commitment to personal accountability. So, how can you improve your ability to
self-regulate? Know your values; · Hold yourself accountable; · Practice being calm.
3. Motivation Self-motivated leaders work consistently toward their goals,
and they have extremely high standards for the quality of their work.
How can you improve your motivation?
Re-examine why you're doing your job; · Know where you stand Determine
how motivated you are to lead. The leadership motivation assessment tool can help
you see clearly how motivated you are in your leadership role. If you need to increase
your motivation to lead, it directs you to resources that can help; · Be hopeful and
find something good - motivated leaders are usually optimistic, no matter what
problems they face. Adopting this mindset might take practice, but it's well worth the
effort.
4. Empathy For leaders, having empathy is critical to managing a successful
team or organisation. Leaders with empathy have the ability to put themselves in
someone else's situation. They help develop the people on their team, challenge others
who are acting unfairly, give constructive feedback, and listen to those who need it.
If you want to earn the respect and loyalty of your team, then show them you care by
being empathic.
5. Social skills Leaders who do well in the social skills element of emotional
intelligence are great communicators. They're just as open to hearing bad news as
good news, and they're expert at getting their team to support them and be excited
about a new mission or project. Leaders who have good social skills are also good at
managing change and resolving conflicts diplomatically. They're rarely satisfied with
leaving things as they are, but they don't sit back and make everyone else do the
work: They set an example with their own behavior.
So, how can you build social skills? Learn conflict resolution - leaders must know
how to resolve conflicts between their team members, customers, or vendors.
Learning conflict resolution skills is vital if you want to succeed; · Improve your
communication skills - how well do you communicate? Our communication quiz will
help you answer this question, and it will give useful feedback on what you can do to
improve; · Learn how to praise others - as a leader, you can inspire the loyalty of your
team simply by giving praise when it's earned. Learning how to praise others is a fine
art, but well worth the effort.
ABSTRACT
Briquette cooking stoves are the new generation cooking stoves which can be used to
replace the conventional LPG cooking system that is generally used in corporate ?hostels,
hospitals, restaurants, jails, function halls, caterers. Briquettes are used as an economic fuel in
stoves and as an alternative fuel for industrial boilers, furnaces and other industrial
applications. Biomass briquettes, mostly made of green waste and other organic materials, are
commonly used for electricity generation, heat and cooking fuel. These compressed compounds
contain various organic materials, including rice husk, biogases, ground nut shells, municipal
solid waste, and agricultural waste. The composition of the briquettes varies by area due to the
availability of raw materials.
Introduction
The use of various forms of organic briquetting seems to have been common
both during World War I and during the '30s depression. The modern mechanical
piston briquetting machine was developed in Switzerland based upon German
developments in the '30s. Briquetting of sawdust and other waste material became
widespread in many countries in Europe and America during World War 11 under
the impact of fuel shortages. Biomass briquettes are a bio fuel substitute mostly
used in the developing world, where cooking fuels are not as easily available.
They are suitable for cooking and water heating in households, and for use in drying;
firing ceramic products, powering boilers to generate steam, and fuelling gasifies.
Biomass cook stoves basically a combustion device which burns biomass fuel more
efficiently with reduced emissions and offers cleaner cooking energy solutions.
Briquette cooking stoves are the new generation cooking stoves are unique cooking
system using an inexpensive, abundant and largely untapped source of energy for
cooking and also can be used to replace the conventional LPG cooking system.
Biomass briquettes made of green waste and other organic materials are commonly
used for electricity generation, heat and cooking fuel. These compressed compounds
contain various organic materials, including rice husk, biogases, ground nut shells,
municipal solid waste, and agricultural waste.
Methodology
The describe the research design is adopted for the study and that describes
the charatertics of a particular individual or group. Data have been collected from one
hundred respondents on the basis of simple random sampling method by way of
questionnaire after a pilot survey.
Gender
Male 84 84
Female 16 16
Educational Qualification
Up to secondary 26 26
Higher secondary 27 27
UG degree 29 29
PG degree 18 18
Occupation
Households 16 16
Canteen 44 44
Restaurants 25 25
Mess/Catering 15 15
Monthly Income
Up to 20,000 49 49
20,000-40,000 38 38
40,000-60,000 10 10
Above 60,000 3 3
The demographic characteristics of the respondents (table 1) show that a
majority of respondents (60%) falling in age group of 25 – 50 years. It further shows
that majority of the respondents are male (84%). As far as the income level is
concerned, most of the (49%) belonged to the category up to 20,000. It is observed
that, majority of the respondents are 29 per cent UG degree. It is inferred that 44
respondents run canteen.
Benefits enjoyed
Ranks Mean
Benefits brought by briquette cooking stove.
1 2 3 4 5 Rank
Meals ready earlier 41 26 17 11 5 2.13
Do not have to watch the fire 16 15 26 22 21 3.17
Less chance for injuries 33 24 18 23 2 2.37
Fewer respiratory diseases 6 22 22 18 32 3.48
More time to do other activities 4 13 17 26 40 3.85
Source: Primary data
Ho– There is no significant relationship in ranks assigned by different respondents
regarding the benefits that are brought by briquette cooking stove.
Findings
The demographic characteristics of the respondents (table 1) show that a majority
of respondents (60%) falling in age group of 25 – 50 years. It further shows that
majority of the respondents are male (84%). As far as the income level is
concerned, most of the (49%) belonged to the category up to 20,000. It is observed
that, majority of the respondents are 29 per cent UG degree. It is inferred that
44 respondents run canteen.
It is inferred that briquette cooking stove reduces cooking fuel cost is the first
reason represented by the respondents with the garret’s score of 70.61.
It is noted that of cow dung has become the first type of fuel used previously and
is proved with the garret’s score of 59.68.
It is inferred that 42 per cent of the respondents use small size briquette stoves.
Suggestions
Campaign can be organized by the manufacturer to bring awareness about the
reduction in cooking fuel cost.
Small size specially made briquette cooking stove are available, households
can be encouraged to use such stoves from their daily cooking.
Conclusion
The convention of biological waste into energy, is an excellent alternative for
cooking fuel Worldwide biomass currently provides over 10 percent of our energy
needs. Biomass will become an increasingly important energy source rising to 30
percent globally by 2050. Therefore, constantly rising fuel prices will be less
influential in an economy if sources of fuel can be easily produced domestically.
Dr. C. Manokaran
Assistant Professor of Commerce, M.K. University
Constitutent College, Andipatti- 625 512.Theni District
Dr. L. Rengarajan
Associate Professor and Head, P.G.and Research Department of Commerce
Rajapalayam Rajus’ College, Rajapalayam
Dr. V. Balamurugan
Assistant Professor, Department of Accounting and Finance,
College of Business and Economics, Dilla University, Dilla, Ethiopia
ABSTRACT
The demonetisation of Rs.500 and R.1000 bank notes was a policy enacted by the Government
of India on 8 November 2016 stopping the usage of all Rs.500 and Rs.1000 banknotes as legal
tender in India from a November 2016. The Government claimed that the demonetisation was
an effort to shop counterfeiting of the current banknotes allegedly used for funding terrorism,
as well as a crack down on black money in the country. The move was also described as an
effort to reduce corruption, the use of drugs and smuggling.
Key words: Crack down Black Money, reduce corruption, drugs, smugglings and terrorism.
Introduction
The announcement was made by the Prime Minister of India Thiru Narendra
Modi in an unscheduled live telecast at 8pm on 8 November. In the announcement
Modi declared that use of all Rs.500 and Rs.1000 banknotes would be invalid past
midnight, and announced the issuance of new Rs.500 and Rs.2000 banknotes in
exchange for the old banknotes. The banknotes of Rs.100, Rs.50, Rs.20, Rs.10 and
Rs.5, Rs.2, Rs.1 remained legal tender and were unaffected by the policy. The move
was also described as an effort to reduce corruption, the use of drugs and smuggling.
However, in the days following the demonetisation banks and ATMS across
the country faced severe cash shortages with severe detrimental effects on a number
of small business, agriculture, and transportation. People seeing to exchange their
notes had to stand in length queues, and several deaths were linked to the
inconveniences caused due to the rush to exchange cash. Initially, the move received
support from several bankers as well as from some international commentators. It
was heavily criticised by members of the opposition parties, leading to debates in both
houses of parliament and triggering organised protests against the government in
several places India. As the cash shortages grew in the weeks following the move, the
demonetization was heavily criticised by prominent economist.
Statement of the Problem and Back Ground
Historically, previous Indian governments had demonetised bank notes.
In January 1954 banknotes of 100 and 1,000 rupees were withdrawn and new notes
of 100,500 and 1000 rupees were introduced in 1954. The Janata party coalition
government demonetised banknotes of 1,000, 5,000 and 10,000 rupees on
16 January1978 as a means of curbing counterfeit money and black money.
In 2012, the Cental Board of Direct Taxes has recommended against
demonetisation, saying in a report that “demonetisation may not be a solution for
tackling black money or economy, which is largely held in the form of benami
properties, bullion and jewellery”. According to data from income tax probes, black
money holders keep only 6% or less of their ill-gotten wealth a cash, hence targeting
this cash may not be a successful strategy.
In the past, the Bharatiya Janata Party (BJP) has opposed demonetisation.
BJP spoke person Meenakshi Lekhi had said in 2014 the “The aam aurats and the
aadmis (general population), those who are illiterate and have no access to banking
facilities, will be the ones to be hit by such diversionary measures.
The Government of India devised an Income Declaration Scheme (IDS), which
opened on 1June and ended on 30 September 2016. Under the scheme, the black
money holders could come clean by declaring the assets, paying the tax and penalty of
45% thereafter.
Televised Address
On 8 November 2016, Prime Minister of India Thiru Narendra Modi
announced the demonetisation in an unscheduled live televised address to the nation
at 20:15 IST. In the announcement Modi declared circulation of all Rs.500 and
Rs.1000 banknotes of the Mahatma Gandhi series as invalid effective from the
midnight of the same day, and announced the issuance of new Rs.500, and 2,000
banknotes of the Mahatma Gandhi New Series in exchange for the old banknotes.
After Modi’s announced, the Governor of the Reserve Bank of India, Urgit Pate and
Economic Affairs Secretary, Shaktikanta Das explained in a press conference that
one purpose of the action was to fight terrorism funded by counterfeit notes, while the
supply of notes of all denominations had increased by 40 percent between 2011 and
2016, the Rs.500 and Rs.1,000 banknotes increased by 76 percent and 109 percent,
respectively, owing to forgery. They said that forged cash was used to fund terrorist
activities against India and that the demonetisation had a counter –terrorism
purpose. Patel also informed that the decision had been made about six months ago
and the printing of new banknotes of denomination Rs.500 and Rs.3,000 had already
started. However, only the top members to the government, security agencies and the
central bank were aware of the move. But media had reported in October 2016 about
the introduction of Rs.2000 denomination well before the official announcement by
RBI. This statement has led to much debate, because the Reserve Bank Governor six
months before the announcement was Reghuram Rajan, while the new banknotes
have the signature of the newly appointed governor, Urgit Patel.
banknotes. A window of fifty days until 30 December 2016 was stipulated to deposit
the demonetised banknotes as credit in bank accounts. For immediate cash needs, the
banknotes could be exchanged over the counter of bank branches upto a limit that
varied over the days.
Initially, the limit was fixed at Rs.4,000 per person from 8 th to 13th November
2016.
This limit was increased to Rs.4,500 per person from 14th to 17th November 2016.
The limit was reduced to Rs.2000 per person from 18th November 2016.
All exchange of banknotes was abruptly stopped from 25th November2016.
Cash withdrawals from bank accounts were restricted to Rs.10,000 per day
and Rs.20,000 per week per account from 10th to 13th November 2016. This limit was
increased to Rs.24,000 per week from 14th November. A daily limit on withdrawals
from ATMs was also imposed varying from Rs.2000 per day till 14 th November, and
Rs.2,500 per day till 31st December 2016. This limit was increased to Rs.4,500 per day
from 1st January 2017.
Exceptions were given to petrol, CNG and gas stations, government hospitals,
railway and airline booking counters, state-government recognised dairies and
rations stores and crematoriums to accept the old Rs.500 and Rs.1,000 bank notes
until 2nd December 2017 International airports were also instructed to facilitate an
exchange of notes amounting to a total value of Rs.5,000 for foreign tourists and
out-bound passengers. Under the revised guidelines issued on 17 November 2016,
families were allowed to withdraw Rs.2,50,000 for wedding expenses from one
account provided it was KYC complaint. The rules were also changed for farmers who
are permitted to withdraw Rs.25,000 per week from their accounts against crop loan.
The Specified Bank Notes(Cessation of Liabilities) Ordinance, 2016 was issued
by the Government of India on 28 December2016, imposing punishment for people
holding “a large amount of” banned banknotes after December 30, 2016. It has been
reported that 97% of the demonetised notes re back in the banks and banks have
received Rs.14.97 trillion($220 billion) as of December 30out of the 15.4trillion rupees
that were demonetised. This is against the government’s initial estimate that
5 trillion rupees would not return to the banking system. The return of 97% of money
back in bank have a negative impact on government’s move against black money.
business man reportedly admitted in an interview that he had received prior warning
of the impending demonetisation from a source in the government, and that he had
sufficient time to convert most of his money into smaller denominations.
The chairman of the State Bank of India had also openly spoken in April 2016 about
the possibility of demonetisation of Rs.500 and Rs.1000 notes.
A BJP MLA from Rajasthan, Bhawani Singh Rajawat, claimed in a video
that ‘Ambani and Adani’ were informed about the demonetisation and made
arrangements. However, he later said that it was an off-the-record conversation and
officially denied the comments.
Reactions
The decision met with mixed initial reactions. Several bankers appreciated the
move in the sense that it would help curb black money. Businessmen also supported
the move adding that it would also accelerate e-commerce Infosys Founder
N.R. Narayana Murthy praised the move.
Finance Minister Arun jaitley said that demonetisation would clean the
complete economic system, increase the size of economy and revenue base.
He mentioned the demonetisation along with the upcoming Goods and Services Tax
(GST) as “an attempt the change the spending habit and life style.
The Indian National Congress spokes person Randeep Surjewala welcomed
the move but remained sceptical on the consequences that would follow.
Chief Minister of Bihar Nitish Kumar supported the move. The demonetisation also
got support from Chief Minister of Andhra Pradesh Nara Chandrababu Naidu.
Former Chief Election Commissioner of India S.Y.Quraishi said demonetisation could
lead to long term electoral reforms. Indian social activist Anna Hazara hailed
demonetisation as a revolutionary step. The President of India Thiru Pranab
Mukherjee welcomed the demonetisation move by calling it bold step. The opinion of
the masses varied both ways on micro-blogs and social media sites like Twitter.
By and large, international response was positive which saw the move as a bold
Conclusion
Singapore-based paper The Independent published a laudatory article on the
move titled” Modi does a Le Kuan Yew to stamp out corruption in India. “Lee Kuan
Yew was the Singaporean Prime Minister and is considered the architect of modern
Singapore. “From making up his mind to rolling it out, a new Lee Kuan Yew is born
in India. It will be reflected in the legacy of this Prime Minister, the article said.
Reference
1. The Hindu
2. The Economic Times of India
3. Wikipedia
ABSTRACT
The principal objective of this research is to identify the effectiveness of E banking services of a
private sector bank. That will helps to a private sector bank to be able to perform their duties
effectively and responsibly. In terms of accessibility, that customer can always easily withdraw
cash, often deposit cash, and pay cash easily through E-banking. It shows that most of the
depositors of the private sector bank find the use of E-banking as always often accessible in
terms of withdrawals, deposits, and payments. In terms of accuracy, the respondent customers
always agreed that E-banking provides accurate information regarding banking and as a
depositor they sometimes encountered any problems concerning E-banking, depositors also
explained that they are always satisfied about the effectiveness of E-banking. Customers are
being facilitated by reducing their visits in banks and doing their transactions via internet or
ATM machines instead of personally visiting the branches. The purpose of this study is
attempts to investigate the effective factors of facilitate using e-banking services for customers.
This study is approached by using survey method to examine the relationship between
independent and dependent variables .Data was collected through questionnaires. Statistical
tools were used to test the hypotheses and achieve the objectives, thus the research is descriptive
and as a result quantitative methods have been used. The findings indicate that the entire
hypotheses are supported positively the effectiveness of e-banking environment in customer
service, and provide valuable information for banking industry, hopefully.
Introduction
In the world of banking, the development of information technology has an
enormous effect on development of more flexible payments methods and more-user
friendly banking services. Electronic banking involves, consumer using the Internet
to access their bank account and to undertake banking transactions. At the basic
level, Electronic banking can mean the setting up of a web page by a bank to give
information about its products and services. At an advanced level, it involves
provision of facilities such as accessing accounts, transferring funds, and buying
financial products or services through online. The recent years there has been
explosion of Internet based electronic banking applications states that the emergence
of new forms of technology has created highly competitive market conditions for bank
providers. However, the changed market conditions demand for banks to better
understanding of consumers' needs. The world is changing by the use of some
technologies that considered being the key driver for these changes around us.
An analysis of technology and its uses show that it has permitted in almost every
aspect of our life. Many activities are handled electronically due to the acceptance of
information technology at home as well as at workplace. The concept and scope of
E-banking is still evolving. It facilities an effective payment and accounting system
thereby enhancing the speed of delivery of banking services considerably. Most people
are very familiar with how a bank operates. The concept is very simple, if the
customer takes his money to the bank and they will keep it safe for him, and he can
collect it later. There are other uses of a bank, such as loans and interest. But with
nearly everything going digital, including money transfers, pay cheques, bill
payments and debit cards etc. Online banking, the customer won’t ever have to worry
about full access to his account. He have quick and easy 24-hour access from
anywhere in the world. The customer won’t ever have to rush over to the bank after
work and fight lines. Online banking services don’t have to rent a building; they offer
higher interest rates with their savings accounts. By using other services on a bank,
mostly it is time consuming and to make money, they often charge expensive fees to
consumers The advancement of electronic banking or commonly known as e-banking,
began with the use of automatic teller machines (ATMs) and has included telephone
banking, direct bill payment, electronic fund transfer, online banking and other
electronic transactions. For many people, they believe that the e-banking will go to
the direction of mobile banking. Also, some people believing that online banking will
be the most popular method in the future. Many people are now able to avoid the
rush to get to the bank before it closes, as they can bank from a home computer or via
automatic teller machine (ATM). Most banks routinely offer online banking services
when customers sign up for accounts. They are a variety of options based on the type
of banking account. An ATM card works two different ways – as credit or debit.
When it used as a credit card, many banks do not charge fees and the money does not
come out of the account immediately. A debit card requires that a pin number be
entered are required. ATM withdrawals may be conducted at any ATM machine that
accepts any debits card. E-banking or electronic banking refers to all types of banking
transactions performed electronically, without visiting a bank. E-banking allows
Customers to conduct bank transactions online, instead of finding a bank and
interacting with a teller. For customers, this means performing actions such as
paying bills, checking balances on their accounts, transferring funds and purchasing
financial instruments remotely.
with risks. This study therefore seeks to look at the perceptions of banks and their
customers regarding the effect of internet banking innovation on banking services.
Hypotheses
1. There is no significant difference between the Nature of occupation of the
respondents and Accesses of e-banking services of the respondents.
2. There is no significant difference between the Nature of occupation of the
respondents and Reason for selecting the Internet banking of the respondents.
Research Methodology
The Study is based on both primary and secondary data has been used.
To analyze the effectiveness of e-banking in three banks like ICICI, HFDC and Axis
Banks were selected in the sivakasi area. Primary data has been collected by carrying
out a survey of 50 respondents who were holding accounts with any one of these
banks. The satisfaction level of the customers will indicate the effectiveness of the
internet banking practices by the banks. Convenient sampling technique has been
used to select customers.
Occupation
Occupation is one of the factors which influencing the buying behaviour of the
respondents. Customer satisfaction may differ from person to person based on the
occupation. The researcher has gathered the information regarding the occupation of
the respondents and the details are presented in the following table.
Hypothesis - I
The researcher has framed the null hypothesis that “There is no significant
difference between the Nature of Occupation of the respondents and Reasons for
selecting e-banking facilities”. The Chi square test is used to test the above
hypothesis.
Observed Frequency Table (O)
Reasons for Selecting E-Banking Facilities
Occupation
Time saving Security Easy access able Convenient time Total
Students 2 1 2 4 9
Business people 9 2 3 2 16
Professionals 7 1 2 3 13
Executive officers 1 0 1 3 5
Academician 2 1 1 3 7
Total 21 5 9 15 50
Chi-square = ∑(O-E)2/E
Calculated Value = 11.55
Degrees of freedom = (r-1) (c-1)
= (5-1)(4-1)
= 4*3 = 12
The table value for 12 degrees of freedom at 5% level of significant is 21.03.
The calculated value (11.55) is less than the table value (21.03). So the
Hypothesis - II
The researcher has framed the null hypothesis that “There is no significant
difference between the Nature of Occupation of the respondents and Access of e-
banking services”. The Chi square test is used to test the above hypothesis.
Chi-square = ∑(O-E)2/E
Calculated Value = 19.02
Conclusion
Indian Banking Industry is one of the four pillars that have taken Indian
Economy to the new paths of growth. After the economic liberalization in 1991, entry
of the private banks such as Axis (earlier known as UTI), ICICI Bank, HDFC Bank
has lead to the growth of Technology of new generation bank. Number of bank
branches, services and products offered by them has also increased tremendously.
In the current study a survey has been done to know the level of customer
satisfaction and viewpoint on the use of E-Banking. The main reason people prefer to
go online is due to the fact that online banking is much more convenient and reliable.
It is faster and time saving. People completely trust the online banking system.
Services for people prefer to use online banking services are online shopping, bill
payments, fund transfers. The result of the study clearly indicates that E-Banking
has added new arms to the growth of the Indian banking system which in turn has a
great impact on the growth of the Indian economy. The current challenge before the
banks is to reach to the rural poor and to make banking services available to lower
sections and farmers.
ABSTRACT
Banking transactions done through electronic is called E-banking. E-banking services
started with introduction of computers and ATMs in 1970’s in the banking sector. In India, the
bank used computers to provide services to its customers. The Bank uses electronic technology
to give E-banking services to the customer at their own place. E-banking facilitates performing
basic banking transactions by customers round the clock globally 24 X 7 banking services are
made possible. E-banking increases the customer’s convenience and their satisfaction. This
paper is presented to study the customer satisfaction towards E-banking services provided by
the Union Bank of India in Madurai city.
Keywords: customer, e-banking service, internet, Union Bank of India.
Introduction
Banking transactions done through electronic is called e-banking.
Computerization of Bank was the starting point of E-banking services. In the case of
electronic banking system, the customer can avail themselves certain financial
services without the assistance of the bank employees with the help of computer. E-
Banking has many benefits that have add value to the customer’s satisfaction in
terms of better quality of service offerings and the same time the banks gain more
competitive advantages over the competitors.
E- Banking services include ATM (Automatic Teller Machine ), mobile
banking, online banking, cash deposit machine, RTGS(Real Time Gross Settlement),
NEFT( National Electronic Fund Transfer), Tele banking and the like. Electronic
services increase the customer’s transactions through the banking system.
The banker must create awareness about the different electronic banking services.
The study has been carried out to know how the customers are satisfied by delivering
E – banking services using advanced technology. The current study focuses on the
customer’s satisfaction towards E-banking services in Union Bank of India. Union
Bank of India is the public sector bank in India which has fourteen branches in
Madurai District. The customer can avail all the banking services at their office or at
home by themselves by using net or electronic.
Objectives
The following are the specific objectives of the study.
1. To study the E-banking services rendered by the Union Bank of India;
2. To examine the socio-economic profile of the customers and their satisfaction level
with regards to E-banking services;
3. To analyze the customers satisfaction towards E-banking services;
4. To offer suggestions to improve the service quality of the union bank;
Data Collection
The present study is based on both primary data and secondary data.
Primary data was collected from the respondents with the help of an interview
schedule. Secondary data was collected from journals, periodicals, and related
websites.
Sampling Design
Since the universe is very large. For the present study 120 respondents were
selected from the total customer of the Union Bank of India. The sampling technique
applied in this study is convenient sampling.
Statistical Tool
After the collection of primary data, the data are edited and coded properly to
make ready for analysis. Percentage analysis is used to analyse the demographic
background, Chi-square test is used to find out the relationship between the
demographic background variables and the level of satisfaction, Garrett’s ranking
technique is used to rank the various reasons for the purpose of using E-banking
services.
Findings
1. It is found that, majority of the respondents (40%) belong to the age group of
between 35-45 years.
2. It is understood from the study that (44 %) of the sample respondents are
graduates.
3. From the point of view of the occupation, it is concluded from the study that
(40.83%) of the respondents are government employee.
4. It is evident from the study that (36.67%) of the respondents earn a monthly
income of Rs. 6000-12000.
5. It is clear from the study that, (43.33%) of the respondents have savings account.
6. A majority of the respondents (44.17%) are maintaining the accounts for
5-10 years.
7. It is inferred that 35% of the respondents are using debit card services for their
transactions.
8. It is found that 45% of the respondents are using the E-banking services
regularly.
9. There is no significant relationship between age, level of education, occupation,
and the level of satisfaction. There is significant relationship between income and
their level of satisfaction.
10. It is clear from Garrett’s ranking technique, transfer of funds, recharging,
shopping, payment of bill, balance enquiry, online application fee, insurance,
railway booking are the first and foremost reasons considered by the respondents
for the use of E-banking services.
Suggestions
1. Banker should analyze the reasons for selecting the E-banking services and
extend the usages among rural customers.
2. If transaction fails to cancel, customer cannot able to avail the services
immediately. Bank takes few days to refund. Hence the banker has to take
necessary action to refund immediately.
3. Site changes make the customer more confusion or delay, customer need skill to
deal with the computers and borrowers.
Conclusion
E-banking services have become an accepted norm of monetary transactions
for millions of users throughout the world. With the technological development, the
banking sector has been going through a tremendous change in the promotion and
delivery of e-banking products and services. The customer can pay his utility bills on
time and save himself from paying penalties. Most probably educated person
hesitates to do the banking transactions in online due to fearness of the hacking and
higher charges of the transaction. Hence, proper awareness should be created
through attractive advertisement in the audio visual media to increase the habit of
using E-banking services among the customers.
References
1. Joshua.A.J., Moil P Koshy(2011), “usage patterns of electronic banking services by
urban educated customers” , journal of internet banking and commerce, Vol.16,.
2. Pikkarainene, p., pikkarainen, (2004)”consumer acceptance of online banking: an
extension of the technology acceptance model. Internet research. Vol. 14(3).
Pp. 224-235.
3. Dr. A. Rama. A. Aruna devi, (2010), banking technology, new century Book house
private limited.
4. 4.http:/ / www.businessdictionary.com
5. www.arraydeve.com
Dr. M. Neelavathy
Assistant Professor in EMG Yadava Women’s College, Madurai
ABSTRACT
Electronic banking is the most inventive services offered by the banks. The transformation from
traditional banking started from the use of automatic teller machine, (ATM), direct bill
payment, electronic fund transfer (EFT) and the revolutionary online banking is being accepted
by the customers with growing awareness and education. The study highlight the customer
satisfaction regarding e-banking services through a survey conducted. It has a lot of benefits
which add value to enhance customers’ satisfaction in terms of better quality of services
offerings and simultaneously enable the banks gain more competitive advantage over other
competitors. This paper contains customer satisfaction towards the convenience and
willingness to use E-banking services are identified and measured.
Keywords: customer satisfaction, E-Banking, Internet Banking, ATM
Introduction
The Banking system of India should not only be hassle free but it should be
able to meet new challenges posed by the technology and any other external and
internal factors. Electronic banking is an umbrella term for the process by which a
customer may perform banking transactions electronically without visiting a
brick-and-mortar institution. Finland was the first country in the world who has
taken a lead in E-banking. In India, it was ICICI Bank, which initiated E-banking as
early as1997 under the brand name Infinity. Electronic banking (e-banking) is a
generic term encompassing internet banking, telephone banking, and mobile banking
Definition of E -Banking
“Banking transactions done through internet is known as e- banking. Banks
today know better than anyone the opportunities and the risks they face in an
ever-changing competitive environment. In offering e-commerce products, banks
some key advantage over potential competitors. E-commerce would create
opportunities for banks to strengthen their relationships with customers, sell
additional services, and prevent encroachment on their business activities. Core
banking is the services provided by a group of networked bank branches.
The advent of internet banking offers banking firms a new frontier of opportunities
and challenges. Despite these possibilities, there are various psychological and
behavioral issues such as reluctance to change, trust in one’s bank; security concerns,
preference of human interference and the like impede the growth of internet banking
Review of Literature
Uppal R.K (2007) the study concludes that the customers of e banks are
satisfied with the different e-channels and their services in the spread of e-banking
services. It also suggests some measures to make e banking service more effective in
the future. The present study is mainly concerned with the Indian banking industry
in general and particular those banks that are producing service through e-banking.
Methodology
The present study is concerned with the customer satisfaction towards e-
banking services of ICICI bank. Data were collected from both primary and secondary
sources. The primary data were collected from those customers who are using E-
Banking services means of interview schedule and questionnaire. Secondary data
have been collected from published sources like books, Journals, research
dissertations, documents, reports of ICICI bank.
Sampling Design
The study aims at analyzing the customer satisfaction on the services of e-
banking services of ICICI bank. A total of 200 samples were taken for the study.
Convenient sampling method has been used to collect the data.
Hypotheses
There is no significant relationship between the profile of the sample
respondents and their level of satisfaction of E-banking services of ICICI.
Suggestions
The customers should have through knowledge while they have transaction
with other through internet. Though various safety measures are taken by the banks,
the customers should keep their username and password confidential. Awareness
level about internet banking is very less among customers. So banks have to conduct
customer meet regularly to educate the customers on internet banking. The bank can
also distribute directly to the customers.
Conclusion
E-banking has become a necessary survival weapon. Today, the click of the
mouse offers customers banking services at a much lower cost and also empowers
them with unprecedented freedom in choosing vendors for their financial services
needs. Banks have come to realize that survival in the new e-economy depends on
delivering some or all of their banking services on the internet while continuing to
support their traditional infrastructure. The rise of E-banking is redefining business
relationship and the most successful banks will be those that can truly strengthen
their relationship with their customers. Without any doubt, the international scope of
E-banking provides new growth perspectives and internet business is a catalyst for
new technologies and new business processes.
Dr. K. Padmavathy
Research Guide E.M.G Yadava Women’s College, Madurai
M. Priyanga M. Phil
Research Scholar, E.M.G Yadava Women’s College, Madurai
ABSTRACT
Job satisfaction is a chief factor in an organization which plays a main role to run the
organization in a steady and smooth way with great morale, discipline and harmonious
acclimatization of employees. Job satisfaction is an important in the teaching profession as it is
in any other profess A professionally satisfied school teacher has a friendly attitude, greater
enthusiasm and a revalue pattern, such school teachers contribute immensely towards the
educational advancement of the students, where as a dissatisfied school teachers is generally
found to be irritable depressed, hostile and neurotic such dissatisfied school teachers often
makes the life of his students miserable, thereby causing a great harm to the institution as well
as the society thus, job satisfaction plays an important role to the employee in terms of health
and well-being also involves the pressures aspiration connected with the work.
Keywords: Aspiration, Psychological, Enthusiasm, Depress, Attitude, Institution.
Introduction
The success of any education system depends on the quality of its teachers.
Unless the teacher dives job satisfaction he cannot initiate desirable out come to cater
to the needs of the society. Job satisfaction involves liking for the work and
acceptance of the pressures and aspirations connected with that work. Every
profession has got certain aspects conducive for job satisfaction at the same time; it
has other aspects which lead to dissatisfaction. Teaching profession is exception. It
we know the dissatisfying factors we can try to reduce then and Teachers can by
happy in their occupation. Thus, job satisfaction is a chief factor in an organization
which plays a main role to run the organization in a steady and smooth way with
great morale, discipline and harmonious acclimatization of employees. Job
satisfaction is the way and employees feel about his or her job it can define as a
psychological feeling of conviction.
Statement of the Problem
In recent times, the country has any education system depends on the quality
of its teachers. Thus job satisfaction is a chief in an organization which plays a main
role to run the organization in a steady and smooth way with great morale, discipline
and harmonious acclimation of employees.
Scope of the Study: This study covers the teaching services rendered by job
satisfaction of on school teachers in an empirical study to identify the job satisfaction
towards the services by Institute
Review of Literature
The present study examines the job satisfaction, i.e. the degree to which job
features there highly valued by individuals are present in their work environment.
Though a number of studies have been conducted in the field of academics but a few
have been undertaken to occupation the job satisfaction of male and female teachers
in schools.
Methodology
The empirical study of an job satisfaction is based on survey method date were
collected from those job satisfaction of on school in Madurai and the secondary data
have collected from school teachers personnel activates the data may collected the
sources like books, journals, research dissertations, documents, reports of job
satisfaction of on school teachers in Madurai city.
Sampling Design
The study aims at analyzing the job satisfaction in Madurai city.
The respondents are selected for the study such as institution who are using at total
of 200 samples.
3 Education qualification
B.com 30 15
Td. Ed 70 35
B. Ed 80 40
Other 20 10
Total 200 100
4 Monthly income(Rs)
Below 5000 20 10
5000-10000 30 15
6000-11000 50 25
12000-17000 70 35
18000-23000 30 15
Total 200 100
Source: primary data
Table 2
S. No Employment Status No. of Respondents Percentage
1 Full –time 80 40
2 Part time 50 25
3 Part time less than 50% 70 35
Total 200 100
Source: primary data
Interpretation: The above table 2 inferred that the 40 percentage of the
respondents are full time employment, 35 percentages of the respondents are part
time less than50 %, percentages employment, and the remaining 25 part time
employment.
Table 9 Ranking the Factor using the Job Satisfaction in School Teacher
S. No Factors Score Average Rank
1 Job satisfaction 11770 58 1
2 Mental ability 11560 57 2
3 Attitude towards children 11060 55 3
4 Adoptability 10630 53 4
5 Professional information 10430 52 5
6 Interest information 9765 48 6
7 Actual teaching 9970 49 7
8 Global 9530 47 8
Source: primary data
Interpretation
The table 9 shows that the 58 percentage of the respondents in factors are job
satisfaction, 57 percentage of the respondents in factor are mental ability, 55
percentage of the respondents in factor are attitude towards children, 53 percentage
of the respondents in factor are adoptability, 52 percentage of the respondents in
factor are Professional information,49 percentage of the respondents in factor are
Interest information,48 percentage of the respondents in factor are actual teaching
and 47 percentage of the respondents in factor are global.
Findings
40 percentage of the respondents are job satisfaction of teaching work in full-
time,45 percentage of the respondents are highly teaching with 6-10 years
experience,45 percentage of the respondents are job satisfaction in current school
setting ,40 percentage of the respondents are job satisfaction with in employment
status as a teaching at this school,40 percentage of the respondent’s job satisfaction
with in level of current school.
Conclusion
Job satisfaction has been defined as a pleasurable emotional resulting from
the appraisal of one job an affective reaction to one ‘s job and an attitude towards
one’s job A large number of factors of the employee like his temperament, health, age,
social status, activities, political or social organization, determine his satisfaction on
the job. In our study gender of school teachers has significant impact on the job
satisfaction of primary school teachers. Male teachers are processing higher job
satisfaction than female teachers. Similar result was found in the United States
revealed that there were signification differences in the levels of job satisfaction
between male and female teachers7, 10. Working place is also important factor for
any profession. Their facilities and relation with colleagues.
References Books
1. Bandhna, B.(2011).’Job satisfaction and values among kendriya Vidalia teachers’.
Journal of Education and practice, 2(11&12), 17-24.
2. Francis, G., Jr.,(1982). Job satisfaction. Human Behavior in the work
Environment A Managerial perspective (pp.70-82). California: Good year
publishing company, Inc. Santa Monica, California. 4. Research Methodology 2nd
Edition by Suresh Chandra, omit Kumar Sharma 2016-11
Websites
1. Htts://book.google.co.in/book/about/RESEARCE METHODOLOGY.htm? Id=3
7x8afFYC
K. Myilswamy
Assistant Professor, Department of Commerce with CA
VLB Janaki Ammal College of Arts and Science, Kovaipudur, Coimbatore
ABSTRACT
Organic foods are foods produced by organic farming. While the standards differ worldwide,
organic farming in general features cultural, biological, and mechanical practices that foster
cycling of resources, promote ecological balance, and conserve biodiversity. These are vegetables
and fruits which have been produced by organic agriculture. Dairy products which are
classified as organic are produced from animals which are raised by organic means. Fishes are
considered to be organic if they are reared in fish ponds so that they are fed with organic food.
This study conducted for the objectives like t o find out the uses of organic foods products to its
consumers, the reasons to promote as an organic food producers, to analyze the satisfaction
level , the factors that influences producing organic food products, the advantages of organic
food production. In this study used both primary and secondary data. The data was collected
from 50 respondents by questionnaire method. Simple percentage method is used to for
analysis purpose. Garrette ranking technique is used to rank the factor for satisfaction of
respondents on different aspect of the study, the percentage position of each rank thus obtained
into scores by referring to the table given by Henry E. Garrette. Chi – square test and ANOVA
to testing hypothesis. The concept of organic food production has been here for a long time in
the form of traditional production methods. But the concept of organic food production never
became a widespread phenomenon until government takes necessary step to develop due to lack
of subsidies.
Introduction
Organic foods are foods produced by organic farming. While the standards
differ worldwide, organic farming in general features cultural, biological, and
mechanical practices that foster cycling of resources, promote ecological balance, and
conserve biodiversity. In the Green Revolution, the traditional practice of crop
rotation gave way in some parts of the world to the practice of supplementing the
chemical inputs to the soil through top dressing with fertilizers, e.g. adding
ammonium nitrate or urea and restoring soil pH with lime in the search for increased
yields, preparing soil for specialist crops, and seeking to reduce waste and inefficiency
by simplifying planting and harvesting.
and help keep the body healthy. Organic dairy products include products like
milk, ice cream, butter and cheese.
3. Organic Fish and Meat: Fishes are considered to be organic if they are reared
in fish ponds so that they are fed with organic food. Since fishes found in water
bodies such as seas and rivers sometimes feed on inorganic food, they are not
considered as organic fishes.
Research Methodology
Source of data
Primary data were collected by questionnaire method and interview schedule
method.
Secondary data were collected from websites and related books.
Sample Design
Convenient sample method is used to select the respondents.
Area of Study
The study has been conducted in Coimbatore district.
Sample Size
The sample size is 50 respondents constituting from Coimbatore district.
Tools
Simple percentage analysis:
Percentage analysis was carried out and interpretation done keeping in mind
the objectives of the study.
Chi – square test:
Chi – square parameter was employed to test the hypotheses spelt out in the
study. The calculated value of chi – square is computed with the table value at 5%
level of significance and inference drawn.
ANOVA:
Analysis of variance is an extremely useful technique concerning
researchers. This technique is used when multiple sample cases are involved.
Variances are an important statistical measure and are described as the mean of the
squares of deviation taken from the mean of the given series of data.
Garrett Ranking Test:
This technique was used to rank organic producers on the different the aspects
of the study. The orders of merits given by the respondents were converted into ranks
by using the formula and the percentage position of the rank thus obtained into
scores by referring to the table given by Hendry E. Garrett.
Taste 12 24
Healthy 16 32
Advantages of Organic
9 Energetic 08 16 100
Foods
Cheaper 08 16
Antibiotic 06 12
Whether Face any Yes 39 78
10 100
Problem No 11 22
Delay in Production 11 37
Mention the Problem
Climate 08 27
11 Faced While Online 100
Low Production 06 20
Purchase
Others 05 17
Highly Satisfied 13 26
Satisfied 26 52
12 Level of Satisfaction Moderate 09 18 100
Dissatisfied 02 04
Highly Dissatisfied 0 0
Profit 10 20
Factors for Fast Move 13 26
13 100
Satisfaction Healthy 14 28
Taste 13 26
Yes 46 92
14 Recommend to others 100
No 04 08
Source: Primary Data
Interpretations
1. Majority 58% of the respondents are male
2. Majority 34%of the respondent’s age group is above 40 years.
3. Majority 50% of the respondents’ educational qualification is Degree level.
4. Majority 100% of the respondents are aware about organic food production
5. Moreover 60% of the respondents are spending internet about up to 2 Hours.
6. 72% of the respondents are producing vegetables and fruits
7. About 36% of the respondents are producing organic foods since more than 10
years
8. Moreover 58% of the respondents are producing organic foods for the reason of
healthy.
9. Majority 32% of the respondents’ producing organic food for the advantage of
healthy
10. Majority 78% of the respondents are facing problem while producing organic
foods.
11. Among them 37% of the respondents are facing problem by delay in production.
12. Majority 52% of the respondents satisfaction level is satisfied
13. Majority 28% of the respondents are satisfied because of healthy
14. 100 % of the respondents are ready to recommend with others about organic food
production.
Testing of Hypothesis
Chi – Square Test (χ2)
1) H0: There is no significant relationship between gender and problem faced while
organic food production
2) H0: There is no significant relationship between educational qualification and
factors for satisfaction
ANOVA
Relationship between Gender and Recommend to others
H0= there is no relationship between gender and recommend to others for
producing organic foods
Suggestions
1. It is found that majority of the respondents are faced problem by delay. So the
organic producers have to more attention quick production process.
2. On the basis of recommendations of consumer, it’s brought attention of online
sites to provide more awareness regarding organic food production.
3. The above reviews have to be carefully taken note of and the government should
take appropriate steps to expose and ensure to develop organic food production by
providing more subsidies
Conclusion
The concept of organic food production has been here for a long time in the
form of traditional production methods. But the concept of organic food production
never became a widespread phenomenon until government takes necessary step to
develop due to lack of subsidies. Government also enables to do provide subsidies,
they can produce organic foods. Consumers are aware of this, price their inventory
competitively. Moreover, Organic producers get bigger audience of their organic
products.
Bibliography
Books:
1. P.Saravanavel, "Research Methodology", Published by Kitab Mahal, 2006.
2. R.S.N.Pillai, Bagavathi, "Modern Marketing", S. Chand and company Ltd, 2007.
3. C.R.Kothari, "Research Methodology", New age international Publishers, 2006.
Websites
1. www.google.com
2. https://en.wikipedia.org
Dr. I. Irulappan
Assistant Professor of Commerce, Yadava College, Madurai
ABSTRACT
Service quality is playing an increasingly important role in the present environment where
there is no further scope for the companies to differentiate themselves other than the quality of
the service provided by them. Delivering superior service quality than the competitors is the key
for the success of any organization. But, the companies face difficulties in measuring the
quality of services offered to the customers. Because unlike measuring the quality of goods, the
measurement of the quality of services offered by the companies is difficult due to the three
unique features of services viz. intangibility, heterogeneity, and inseparability. In this paper an
attempt is made to analyse the service quality stems from a comparison of the Kisan Credit
Card holders expectations or desires from the Primary Agricultural Cooperative Banks with
their perceptions of the actual service performance.
Keywords: Service quality, Co-operative Banks, Farmers
Introduction
Service quality is based on multiple dimensions. In general, it has two service
quality dimensions, the functional aspect and the technical aspect. The functional
aspect concern "how" service is received by the customer as the outcome of the
process in which the resources are used. However the customer also perceives how
the process itself functions, i.e. the functional or process quality dimension. It is a
function of the differences between expectation and performance along the quality
dimension. Unlike goods quality, which can be easily measured objectively in terms of
number of defects and durability, service quality is an elusive construct that may be
difficult to measure. In this paper an attempt is made to analyse the service quality
stems from a comparison of the Kisan Credit Card holders expectations or desires
from the Primary Agricultural Cooperative Banks with their perceptions of the actual
service performance.
Methodology
The study is based on the primary data. It is an analytical and empirical study
based on survey method. To collect primary data a schedule was prepared.
The schedule was used to collect necessary information from the sample Kisan Credit
Card holders. The schedule was distributed and collected with their responses.
Sampling
Kisan Credit Cards are issued by Commercial Banks, Regional Rural Banks
and Primary Agricultural Co-operative Banks. Primary Agricultural Co-operative
Banks accounted for maximum share in the issue of KCCs (45.8%) followed by
commercial banks (13.2%) and Regional Rural Banks (41.0%).Hence Primary
Agricultural Co-operative Banks have been taken as sample banks for the purpose of
the study. For the purpose of assessing the service quality 50 respondents have been
selected by following convenient sampling method.
Construction of Tools
SERVQUAL, an instrument “for assessing customer perceptions of service
quality in service organizations” developed by Parasuraman, was used for this study.
The schedule has 21 statements related with five dimensions of tangible, reliability,
responsiveness, assertiveness and empathy of Kisan Credit Card Scheme.
Tools of Analysis
The SPSS software program was used to perform statistical analysis of the
data collected through the interview schedule specially designed for this study.
The data analysed was from 50 Kisan Credit Card holders. Descriptive analysis,
paired sample‘t’ test and ANOVA were used in terms of expectations and perceptions
values.
It is inferred from the table that the difference between the two sets of mean
scores was unlikely to occur by chance. The results do not report the magnitude of the
intervention’s effect, the degree to which the two variables are associated with one
another. In other words a small difference between groups can become statistically
significant but this does not mean that the difference has any practical or theoretical
significance. In order to assess the importance of the findings the “effect size”
(also known as “strength of association”) can be calculated. This is a set of statistics
that indicates the relative magnitude of the differences between means, or amount of
total variance in the dependent variable that is predictable from knowledge of the
levels of the independent variables. There are a number of different effect size
statistics. The one used for this analysis to compare the data was the Eta squared.
The Eta Squared was calculated using the following formula:
Eta Squared = t2
t2+N-1
Eta Squared = (9.571)2
(9.571)2+50-1
Eta Squared = 0.65 ‘
The guidelines proposed by J.W.Cohen were taken into account for
interpretation. The guidelines showed that for interpreting this effect size is as
follows: 0.01 = small effect, 0.06 = moderate effect, 0.14 = large effect. Given the
present Eta squared value of 0.65 for the difference between expectation and
perception mean scores, the study can conclude that this was a large effect.
The paired sample t-test concluded that there is a statistically significant difference
in the perceptions mean score (M = 3.7158, SD = 0.3136) compared to the
expectations mean score (M = 5.2988, SD = 0.4331, t(49) = 9.571, p < 0.0001 (two-
tailed).
Conclusion
The card holders’ choices show that reliability, tangibility and assurance are
critical dimensions of the service they expect from the Primary Agriculture Co-
operative Banks. The difference between the adequate information that card holders
expect and what they actuallsy receive from the banks is important concern that
management need to investigate. Adequacy is an essential requirement and quality
gaps in this area need urgent attention.
References
1. Gabriel Simon Thattil, M. Udhyakumar, “Agricultural finance and total credit
requirements of farmers – A study Based on Kisan Credit Card”, Indian Co-
operative Review, Vol. 39, No. 2, 2001.
2. Humayun Masood and Kaynat tabassum, “Indian Agriculture, Problems and
Prospects”, Kurukshetra, Vol. 55, No. 9, 2007.
3. Mohan, S., Benson, “Credit through Cooperatives problems and solutions”,
The Cooperator, Vol. 40, No. 1, 2002.
4. Noor Mohamed. A., “Rejuvenating the Agricultural Sector”, Kisan World, Vol. 34,
No. 11, 2007.
Dr. S. Rukkumani
Asst Professor Department of Commerce
M K University Constituent College Tirumangalam
ABSTRACT
Introduction of GST would be a significant step in the field of indirect tax reforms in India.
Unifying a large number of Central and State taxes into a single tax and allowing set-off prior-
stage taxes will be beneficial for the Indian economy. For the consumers, the biggest gain would
be in terms of a reduction in the overall tax burden on goods, which is currently estimated at
25%-30%. GST would also make our products competitive in the domestic and international
markets. There may also be revenue gain for the Centre and the States due to widening of the
tax base, increase in trade volumes and improved tax compliance. More over this tax, because
of its transparency would be easier to administer.
Impact on Logistics
Logistics Sector has expanded in the fifty years after independence.
Today about 65% goods are carried over through road transport. .However the
average speed of trucks on Indian roads is about 20 km/ hour. So, a truck in India can
cover only 250-300 km a day compared to 700-800 km in developed countries such as
the US and Europe.
Logistics sector serves as the back bone for major sectors like Automobiles,
Pharmaceuticals, Oil and Gas, Construction etc. The proposed goods and services tax
(GST) will help companies reduce logistics cost by 1.5 to 2.5% as they reconfigure
their supply chains and bring in there key structural changes to the logistics
industry. Eliminating delays at check posts will yield an additional savings of
0.4-0.8% of sales. These cost savings are, however, more likely to be gradual and back
ended, as corporate will have to realign their supply chain while ensuring minimum
business disruption. The impact of GST in logistics is going to be dramatic and
revolutionary.
Conclusion
GST will facilitate ease of doing business in India. Integration of existing
multiple taxes into single GST will significantly reduce cost of tax compliance and
transaction cost. Stable, transparent and predictable tax regime will encourage local
and foreign investment in India creating significant job opportunities. GST will
eliminate the scope of double taxation in certain sectors due to tax dispute on
whether a particular transaction is for supply of goods or provision of service GST
will also have impact on cash flow and working capital While GST is eagerly awaited
by the industry, the legal process to implement GST in India is quite long and
complex. After the Constitution Amendment Bill is passed by the Parliament with
two-thirds majority, it will have to be passed by at least 15 states. There after GST
council has to be constituted which will recommend model GST law and GST rates.
On such recommendation, GST Act and Rules have to be enacted by the Parliament
and each state assembly. Then implementation date has to be notified, the road
ahead is very long.
G. Sahaya Leoni
Research Scholar, Mother Teresa Women’s University, Kodaikanal
Dr. G. Indhumathi
Assistant Professor, Mother Teresa Women’s University, Kodaikanal
ABSTRACT
Ecommerce one of the highest growing business, with India having great market potential for
investments. The topics covered include the terms study of commerce, key drivers of growth,
market growth potential, investment, retail market, logistics infrastructure, internet
regulations, key challenges and future of ecommerce. India is showing tremendous growth in
the E-business. India has an internet user base of over 100 million users. The penetration of e-
business is low compared to markets like the US and the UK but is growing at a much faster
rate with a large number of new entrants. India is yet to witness a breakthrough E-commerce
success story particularly in online retail. E-commerce creates new opportunities for business; it
also creates new opportunities for education and academics line. It raises key challenges that
are being faced by consumers relating to e-commerce viz., Ethical issues, Perceptions of risk in
e-service encounters, challenges for e-business education and legal system.
Introduction
Electronic commerce is presently an essential ingredient of India’s trade
facilitation policy. Since 1991, after economic reforms explicitly took place in India as
a result of opening of the economy with a view to integrate itself with the worldwide
economy, the need to facilitate international trade both through policy and procedure
reforms has become the foundation stone of India’s trade and fiscal policies.
Resultantly, last few years have witnessed a technological revolution accompanied by
the wide spread use of the Internet, web technologies and their applications.
Electronic Business (e-commerce) as part of the information technology revolution
became widely used in the world trade in general and Indian economy in particular.
The E-Commerce market has seen unparalleled growth since last year, It is
expected that E-Commerce will become $20 million by the year 2018. Ecommerce is
growing [1] in rural areas with most of the traffic coming from tier-2 and tier-3 cities.
In July 2014 Amazon [3] invested $2 billion in India, following the news of Flipkart
raising $1 billion in funding. There are lot of bigger companies in ecommerce market
like Snapdeal, Paytm, Flipkart, Amazon, Shopclues and Jabong etc. With numbers of
companies increasing the competition is bound to happen for the first position.
The retail industries have recorded annual growth of 40-50%, huge investments is
expected to flow into logistics sector in future.
Definition
The buying & selling of products & services by businesses & customers
through on electronic medium, without using any paper documents. E-commerce is
widely considered the buying & selling of products over the internet, but any
transaction that is completed solely through electronic measures can be considered
e-commerce. E-commerce is subdivided into three- categories: business to business or
B 2 B (Cisco), business to consumer or B 2 C (Amazon) & Consumer to consumer
C 2 C (eBay).
Growth of E-Commerce
As per "India Goes Digital", a report by Avendus Capital, a leading Indian
Investment Bank specializing in digital media and technology sector, the Indian
ecommerce market was estimated at Rs 28,500 Crore ($6.3 billion) for the year 2011.
Online travel constitutes a sizable portion (87%) of this market today. Online travel
market in India is expected to reach Rs 54,800 Crore ($12.2 billion) in size by 2015.
Indian e-tailing industry is estimated to grow to Rs 53,000 Crore ($11.8 billion) in
2015.
Overall e-commerce market is expected to reach Rs 1,07,800 crores (US$ 24
billion) by the year 2015 with both online travel and e-tailing contributing equally.
Another big segment in e-commerce is mobile/DTH recharge with nearly 1 million
transactions daily by operator websites.
Apparently, more online users in India are willing to make purchases through
the Internet. Overall e-commerce industry is on the edge to experience a high growth
in the next couple of years. The e-commerce market in India was largely dominated
by the online travel industry with 80% market share while electronic retail
(E-Tailing) held second place with 6.48% market share.
crore. The report estimates that it will hit Rs 2,11,005 crore this year. However,
online shopping comes only after online travel, which is valued close to Rs 76,396
crore.
Conclusion
The e-commerce market in India has grown by 34 percent in the last seven
years, was about USD 600 million in 2011-12 and is expected to touch USD 9 billion
by 2016 and USD 70 billion by 2020. According to Forrester, the Indian e-commerce
market is expected to grow at a CAGR of over 57 percent between 2012 and 2016,
which is the fastest within Asia-Pacific region. The key factors that are driving this
growth are the rise of Internet usage (growing at 20 percent) 3G & 4G penetration,
and increasing smart phone users with availability of Internet on mobile phones. It is
estimated that currently there are 27 million mobile Internet users in India out of
which 4 percent are buying products on mobile.
E-commerce growth is inevitable as Indian e-commerce industry is having
access to funds both local and international investments. The e-commerce industry
will be faced with challenges as it matures but there is potential for growth owing to
rising internet users and advancement in technology. Companies will need to work
harder to provide better service to customer as more companies will be foraying in
commerce business in future.
Reference
1. ”Retail e-commerce in India from 2012 to 2018(in billion US dollars”
http://www.statista.com/statistics/289770/india-retail-e-commerce-sales/.
2. E-Commerce in India: Drivers and Challenges a The PwC India Proposition
(2015, Nov 11) Retrieved from
https://www.pwc.in/assets/pdfs/technology/ecommercein-india-drivers-and-
challenges.
3. E-commerce in India (2015, Nov 10) Retrieved from
https://www.en.wikipedia.org/wiki/Ecommerce in India
4. E-Commerce-and-its-evolution-in-India (2015, Nov 10) Retrieved from
http://www.devmantra.com/2015/09/01/e-commerceand-its-evolution-in-India.
5. The rise and rise of ecommerce in India. (2015, Nov 10) Retrieved from
http://www.ibef.org/download/The- Rise and- Rise-of-E-commerce-in-India.pdf
G. Marudharaj
Ph.D., Research Scholar (Part Time), Department of Commerce
Yadava College for Men, Madurai
ABSTRACT
Financial institution specially banking industry is one of the areas where many public, private
& foreign banks are operating their businesses to different customers in every nuke of the
country. This study is undertaking the customer preference towards Pandyan Grama Bank at
Maduai District. Banking is considered to be the nerve center of trade, commerce and business
in a country. It plays a vital role in distributing the money for the development of trade,
industry and commerce. Therefore we may say that banking is the life blood of modern
commerce. A banker is not only dealers in money but also leaders in economic development of a
country. The fundamental aspects of banking i.e. trust and the confidence of the people on the
institution remain the same. The majority of the banks are still successful in keeping with the
confidence of the customer even though the main problems of the customer are not well aware of
the service provided by their bank. Financial institution specially banking industry is one of
the areas where many public, private & foreign banks are operating their businesses to
different customers in every nuke of the country. In the process to attract customers these banks
are providing the highest level of service quality to satisfy the varying needs of today's
customers, but service quality is not alone sufficient trust among the customers is another
important factor which is a predictor of consumer preference.
Keywords: Bank, Customer, Deposits, Performance of Bank Customer.
INTRODUCTION
The banking industry in Madurai District has been faced with enormous
challenges that affect performance, management, and reliability. Indian banking
industries the biggest challenge is not from its trade unions and banks, but meets in
the rising hopes of the customers. Now a day’s most of the winning companies are
focusing on continuously fulfilling their clientele expectations or beyond, like
customer delight. Improving the quality of service is one of the Bank’s top priorities.
Banks are working towards “Total Customer Satisfaction” in all our services.
To ensure this, Bank is conducting “Branch Level Customer Service Committee”
meetings regularly once in a month and their suggestions grievances are redressed
immediately. During this year “Customer Service Cell” is formed at Head Office to
deal exclusively customers grievances complaints and to redress the same within the
shortest possible time. The Customer care team will hear the grievances of the
customer through the line and take up the issues with the branches / offices and
redress the same immediately.
Research Methodology
The researcher is using both methods like analytical and descriptive in
nature. Simple percentage used for data analysis to express easy understanding of
this study. This research is based on both primary and secondary data. Primary data
were gathered through questionnaire and interview schedule. Secondary data were
collected from books, journals and website.
Sampling Design
The personal judgment method has employed for the selection of banks, by
using simple random method 300 customers has selected which is collected data
based on researcher convenience methodology. This sample pack of 300 customers
has duly calculated on the basis of sampling proportion. Researcher used as tools of
simple percentage method is used for analysis of data.
Interpretation
Table 2 reveals the details about the customers having accounts in specific
banks and the number of years of having transactions with banks. Out of
50 respondents, 20% of the respondent have less than the one year experience, 36% of
the respondents have 1-5 years experience, followed by 28% of the respondents have
6-10 years experience, and finally 16% of the respondents had more than
10 experience its very minimal respondents.
Interpretation
Table 3 represents, that, out of 50 respondents, 44% of the respondents had
savings bank deposits account, 10% of the respondent had a current account, 28% of
the respondents had a recurring deposit account and 18% of the respondents had
fixed deposit account. However, choosing a particular bank and its service schemes
depends on the psychological factors like preferences, perception about schemes
offered, influence of media, relatives, colleagues as well as mindset of the people.
Interpretation
Table 4 shows the customer preferences and their satisfaction with respect to
bank Deposit availability. It is measured through customers’ opinion about interest
rates, Deposit processing time, reason for preferring particular banks services and
overall satisfaction. Out of 50 respondents, 22% of the customer are highly satisfied
for bank service, followed by 38% of the customer are satisfied for bank service,
28% of the customers are feel bank services are average and 12% of the customers
who were not satisfied due to tardy services, penalties, interest rate confusion, hidden
charges. Hence, the bankers should treat customer`s issues in a solvable manner,
then only any bank can retain the customer for a long term else there may be chances
of customer`s switchover and loss of profitable customers.
Findings
1. Out of 300 respondents, 38% of the respondent`s works as the Private Employee,
followed by 24% of the respondents are working as a Business Profession.
2. Out of 300 respondents, 36% of the respondents have 1-5 years experience,
followed by 28% of the respondents have 6-10 years experience.
3. Out of 300 respondents, 44% of the respondents had savings bank deposits
account, 28% of the respondents had a recurring deposit account.
4. The overall service of the bank, 22% of the customers agree that they are highly
satisfied, 38% of the custome21r agreed satisfied, 28% of the customers agreed the
bank service is average and finally 12% of the customers feel that bank service is
not satisfied.
Suggestion
1. This research suggests that overall service about Pandyan Gama Bank at
Madurai Town. The bank is applying charges for deposit other than home branch,
if a customer deposits other than home branch may give exemptions from their
charges.
2. Pandyan Grama Bank must motivate to use Mobile banking, net banking and
other services to their consumers.
3. Bank must give priority to their consumers to operate satisfactory bank service.
Bank could ensure to customers about such a tardy services, penalties, interest
rate confusion, hidden charges
Conclusion
The study is aimed at measuring the customers’ preference and satisfaction
levels for services offered by Pandyan Grama Bank at Madurai. It has been moving
towards the achievement of its corporate vision of becoming the best bank in the
industry in respect of profit maximization, customer’s satisfaction and technology
services. The introduction of credit cards system, E-Banking, mobile banking, and
Net banking have resulted improvements of the customer service. Besides the level of
customer satisfaction is also assessed on going basic through in house surveys
corrective measure are intimated wherever warranted to conclude that all the
customers are well settled and satisfied with the online banking services rendered by
the bank.
T. Karthiyayini
Assistant Professor in Commerce E. M. G. Yadava Women’s College
Dr. K. Alagar
Associate Professor of Commerce, Yadava College
ABSTRACT
Floriculture is a fast emerging and highly competitive industry. With the continuous
introduction of new cultivators and new crops, cultural techniques are changing and hence new
products are developing. Ornamental crop culture technology is improving with the availability
of equipment and there is a sea change in the trend of consumers. A new generation of growers
is coming forward to employ modern technology for maximizing production and offer quality
produce for consumer acceptability, thus fetching a better price. It has emerged as a lucrative
profession with the much higher potential for returns compared to other agri-horticultural
crops.
Keywords: Rose flower, Competitive industry, Floriculture.
Introduction
Agriculture is recognized as the key to India’s economy. Agriculture is the
backbone of our nation. Floriculture is the art and knowledge of growing flowers to
perfection. It deals with the cultivation of flowers and ornamental crops from the
time of planting to the time of harvesting. It also includes production of planting
materials through seeds, cutting, budding, grafting and marketing of flowers and
flower produces. It includes cultivation of flowering and ornamental plants for sales
or for use as raw materials in cosmetics, perfume industry and also pharmaceutical
sector. Rose is one of the nature’s beautiful creations and is universally acclaimed as
the ‘Queen of Flowers’. No other flower is a better symbol of love, adoration,
innocence and other virtues than the rose.
General Observations
● Hi-tech floriculture is recent development in India.
● Government given incentives to green house floriculture unit.
● Export oriented green house unit have been set-up by entrepreneurs and
progressive farmers.
● Green house floriculture does require higher capital initially.
● Many researchers concluded that green house and field cultivators have been
facing many problems related to production and proper marketing.
● Floriculture business in U.S Economy has experienced, green house floriculture is
much expensive due to expensive labour, and comparatively field cultivation was
economic.
● Field cultivation of flower do required family labour.
Roses
In Rose, in the marketing of roses three channels were observed. Channel
I – Producer-Commission agent- Retailer- Consumer (in Madurai market) Channel
II- Producer- Retailer- Consumer. Channel III – Produces-Consumer (Local market)
Since Madurai is a big market, 65% flowers were sold through channel I and
remaining 32% and 3% were sold through channels II and Channels III. Thus the
local market sale was only 3%. Marketing cost, margins and producer’s share in
consumer’s rupee is given below for roses sold after making garlands.
Review of Literature
Shashidhara (2011) in his study on socio-economic profile of drip irrigation
farmers in Shimoga and Davanagere district of Karnataka found out that, majority of
the farmers belonged to medium innovativeness category (47.50 per cent) followed by
low (31.66 per cent) and high (20.83 per cent) innovativeness category, respectively.
Sampling Size
Randomly 150 respondents were selected for this study.
Interpretation
Table indicates that 26% for Huge investment hold I Rank. Non-availability of
quality indigenous planting material holds II Rank. Scarcity of labour holds III Rank.
Null Hypothesis
There is no significant relationship between the profiles of the respondents
and level of satisfaction.
Table 5 Profile of the respondents and level of satisfaction
Degree of Calculated Table
S.No Categories Inference
freedom value value @5%
1 Age 8 15.81 15.5 Significant
2 Gender 2 0.22 5.99 Not significant
Educational
3 8 17.79 15.5 Significant
Qualification
4 Monthly Income 8 12.8 15.5 Not significant
5 Type of family 2 20.61 5.99 Significant.
Source: Primary data
Interpretation
From the above table Gender and Monthly income computed value at 5
percent level is less than the table value. Therefore the null hypothesis accepted.
Regarding Age, Educational Qualification and Type of family computed value is
higher than the table value. Hence it can be concluded that the null hypothesis is
rejected.
Conclusion
This paper concludes that the area of Rose production and marketing of
improved farming technology has increased and also production has increased more
than one decade in Madurai district. There is a need to boost up the production and
marketing of Rose flowers. The efforts made by the Government to improve the
marketing system could improve the efficiency and help in increasing the producers
share in the consumer’s rupee in the case of food grains and oil seeds to a great
extent. But very little has been done in the case of flowers for improving the
production and marketing efficiently.
Reference
1. BALASUBRAMANI, N., 1997, Knowledge and adoption behavior of rubber
growers in Belthangadi taluk of Dakshina Kannada district. M.Sc. (Agri.) Thesis,
University of Agricultural Sciences, Bangalore.
2. BYRAREDDY, H. N., 1971, a study of differential characteristics of adopters and
non adopters of fertilizers to rainfed ragi in Bangalore North taluk. M. Sc. (Agri.)
Thesis, University of Agricultural Sciences, Bangalore.
3. CHANDREGOWDA, K. N., 1997, A study on extent of adoption of improved
cultivation practices of Chrysanthemum. M. Sc. (Agri.) Thesis, University of
Agricultural Sciences, Bangalore.
4. HIREMATH, N. S., 2000, Participation of rural youth in farm and nonfarm
activities in Dharwad taluk. M. Sc. (Agri) Thesis, University of Agricultural
Sciences, Dharwad.
ABSTRACT
This paper is an analysis of what the impact of GST (Goods and Services Tax) will be on
Indian Tax Scenario. Here stated with a brief description of the Indian economical and its tax
structure. Then the need arose for the change in tax structure from traditional to GST model.
GST has be detailed discuss in this paper as the background, silent features and the impact of
GST in the present tax scenario in India. The Goods and Services Tax (GST) is a value added
tax to be implemented in India, the decision on which is pending. GST is the only indirect tax
that directly affects all sectors and sections of our economy. The goods and services tax (GST) is
aimed at creating a single, unified market that will benefit both corporate and the economy.
The changed indirect tax system GST-Goods and service tax is planned to execute in India.
Several countries implemented this tax system followed by France, the first country introduced
GST. Goods and service tax is a new story of VAT which gives a widespread setoff for input tax
credit and subsuming many indirect taxes from state and national level India is a centralized
democratic and therefore the GST will be implemented parallel by the central and state
governments as CGST and SGST respectively. In this article, I have started with the
introduction, in general of GST and have tried to highlight the objectives the proposed GST is
trying to achieve. Thereafter, I have discussed the stages of GST, GST tax structure, impact of
GST,GST of Indian economy, and a recent tax regime in India.
Keyword: Tax structure, recent tax in India, Indian economy, impact of CST.
Introduction
Initially, it was conceptualized that there would be a national level goods and
services tax, however, with the release of First Discussion Paper by the Empowered
Committee of the State Finance Ministers on 10.11.2009, it has been made clear that
there would be a “Dual GST” in India, taxation power – both by the Centre and the
State to levy the taxes on the Goods and Services. Almost 150 countries have
introduced GST in some form. While countries such as Singapore and New Zealand
tax virtually everything at a single rate, Indonesia has five positive rates, a zero rate
and over 30 categories of exemptions. In China, GST applies only to goods and the
provision of repairs, replacement and processing services. GST rates of some
countries are given below. Country Australia France Canada Germany Japan
Singapore Sweden New Zealand Rate of GST 10% 19.6% 5% 19% 5% 7% 25% 15%
World over in almost 150 countries there is GST or VAT, which means tax on goods
and services. Under the GST scheme, no distinction is made between goods and
services for levying of tax. In other words, goods and services attract the same rate of
tax. GST is a multi-tier tax where ultimate burden of tax fall on the consumer of
goods/ services. It is called as value added tax because at every stage, tax is being
paid on the value addition. Under the GST scheme, a person who was liable to pay
tax on his output, whether for provision of service or sale of goods, is entitled to get
input tax credit (ITC) on the tax paid on its inputs.
Taxes increase cost of compliance. In this scenario, the introduction of GST is
considered crucial for economic growth. GST will have quite a favorable impact on
Indian economy. Some factors will have more favorable impact compared to others
under the proposed GST.
Features of GST
Stable, transparent and predictable tax regime will encourage local and
foreign investment in India creating significant job opportunities. Electronic
processing of tax returns, refunds and tax payments through ‘GSTNET’ without
human intervention, will reduce corruption and tax evasion. Built-in check on
business transactions through seamless credit and return processing will reduce
scope for black money generation leading to productive use of capital.GST will
eliminate the scope of double taxation in certain sectors due to tax dispute on
whether a particular transaction is for supply of goods or provision of service such as
licensing of intellectual properties like patents and copyrights, software, e-commerce
and leasing.
It is also pertinent to note that all indirect taxes will not be subsumed in GST.
Electricity duty, stamp duty, excise duty and VAT on alcoholic beverages, petroleum
products like crude, natural gas, ETF, petrol and diesel will not be subsumed in GST
on its introduction. These taxes will form part of the cost of these goods when used as
inputs in downstream products. Hence those sectors where these goods form
significant input cost such as plastics and polymers, fertilisers, metals, telecom, air
transport, real estate will not get full benefit of GST. Major beneficiary of GST would
be sectors like FMCG, Pharma, Consumer Durables and Automobiles and
warehousing and logistic industry. High inflationary impact would be on telecom,
banking and financial services, air and road transport, construction and development
of real estate
Service Customs duty EXCISE Central Sales tax Entertainment Entry tax Taxes on
+CVD+BCD DUTY+EXCISE sales tax /VAT tax betting
tax DUTYON
MEDICINAL
Betting
Entry of
Provision of Imports Entertain /gambling
Manufacture Interstate Intra state goods in
service ment
sale of sale of state
goods goods
Generally varies
Rate 15% 10% 12.5% 10%-15%
varies 5/12.5 5/12.5% around
varies % varies various 5%
varies various
Multiplicity of Taxes
Presently, the Constitution empowers the Central Government to levy excise
duty on manufacturing and service tax on the supply of services.[18] Further, it
empowers the State Governments to levy sales tax or value added tax (VAT) on the
sale of goods. This exclusive division of fiscal powers has led to a multiplicity of
indirect taxes in the country. In addition, central sales tax (CST) is levied on
interstate sale of goods by the Central Government, but collected and retained by the
exporting States. Further, many States levy an entry tax on the entry of goods in
local areas. Taxes by Union Government, State Governments and the local
governments have resulted in difficulties and harassment to the tax payer. He has to
contact several authorities and maintain separate records for each of them.
Complex
The taxes are levied by central government as well as state government. So, a
person has to maintain accounts which will comply with all the applicable laws.
This multiplicity of taxes at the State and Central levels has resulted in a complex
indirect tax structure in the country that is ridden with hidden costs for the trade
and industry.
Cascading effects of taxes In current indirect tax structure in India, there is
cascading of taxes due to ‘tax on tax’. No credit of excise duty
and service tax paid at the stage of manufacture is available to the traders while
paying the State level sales tax or VAT, and vice versa. Further, no credit of State
taxes paid in one State can be availed in other States. Hence, the prices of goods and
services get artificially inflated to the extent of this ‘tax on tax’.
Tax Rate under the proposed GSTAs per the decisions made by all will of GST
Council on November 3, 2016, The tax rates would be at 4 slabs of5%, 12%, 18% and
28%.[6] Luxury and demerit goods will be taxed at 28% plus cess. [11]daily needs will
be taxed at 5%.
Migration of the existing taxpayers to GST regime all the existing taxpayers
registered under VAT, Service Tax, and Excise are required to furnish the details at
GST Common portal for the purpose of migrating themselves into GST regime.
Renewed GST concerns with heterogeneous State laws on VAT, the debate on the
necessity for a GST has been reignited. [20] The best GST systems across the world
use a single GST, while India has opted for a dual GST mode.
for food items would drastically shrink the tax base. Food includes grains and cereals,
meat, fish and poultry, milk and dairy products, fruits and vegetables, candy and
confectionary, snacks, prepared meals for home consumption, restaurant meals and
beverages. Even if the food is within the scope of GST, such sales would largely
remain exempt due to small business registration threshold. Given the exemption of
food from CENVAT and 4% VAT on food item, the GST under a single rate would
lead to a doubling of tax burden on food.
Housing and Construction Industry
In India, construction and Housing sector need to be included in the GST tax
base because construction sector is a significant contributor to the national economy.
FMCG Sector
Despite of the economic slowdown, India's Fast Moving Consumer Goods
(FMCG) has grown consistently during the past three – four years reaching to $25
billion at retail sales in 2008. Implementation of proposed GST and opening of
Foreign Direct Investment (F.D.I.) are expected to fuel the growth and raise
industry's size to $95 Billion by 201835.
Rail Sector
There have been suggestions for including the rail sector under the GST
umbrella to bring about significant tax gains and widen the tax net so as to keep
overall GST rate low. This will have the added benefit of ensuring that all
inter – state transportation of goods can be tracked through the proposed Information
technology (IT) network.
Financial Services
In most of the countries GST is not charged on the financial services.
Example, In New Zealand most of the services covered except financial services as
GST. Under the service tax, India has followed the approach of bringing virtually all
financial services within the ambit of tax where consideration for them is in the form
of an explicit fee. GST also include financial services on the above grounds only.
Impact on Small Enterprises
There will be three categories of Small Enterprises in the GST regime.
Those below threshold need not register for the GST Those between the threshold
and composition turnovers will have the option to pay a turnover based tax or opt to
join the GST regime. Those above threshold limit will need to be within framework of
GST Possible downward changes in the threshold in some States consequent to the
introduction of GST may result in obligation being created for some dealers. In this
case considerable assistance is desired. In respect of Central GST, the position is
slightly more complex. Small scale units manufacturing specified goods are allowed
exemptions of excise up to Rs. 1.5 Crores. These units may be required to register for
payment of GST, may see this as an additional cost
tax credit to the manufacturer. Various tax barriers such as check posts and toll
plazas lead to a lot of wastage for perishable items being transported, a loss that
translated into major costs through higher need of buffer stocks and warehousing
costs as well. A single taxation system could eliminate this roadblock for them.
A single taxation on producers would also translate into a lower final selling price
for the consumer. Also, there will be more transparency in the system as the
customers would know exactly how much taxes they are being charged and on
what base.GST would add to government revenues by widening the tax base.GST
provides credits for the taxes paid by producers earlier in the goods/services chain.
This would encourage these producers to buy raw material from different
registered dealers and would bring in more and more vendors and suppliers under
the purview of taxation.
GST also removes the custom duties applicable on exports. Our competitiveness in
foreign markets would increase on account of lower cost of transaction.
The proposed GST regime, which will subsume most central and state-level taxes,
is expected to have a single unified list of concessions/exemptions as against the
current mammoth exemptions and concessions available across goods and
services.
Conclusion
GST is the most logical steps towards the comprehensive indirect tax reform
in our country since independence. GST is levi able on all supply of goods and
provision of services as well combination thereof. All sectors of economy whether the
industry, business including Govt. departments and service sector shall have to bear
impact of GST. All sections of economy viz., big, medium, small scale units,
intermediaries, importers, exporters, traders, professionals and consumers shall be
directly affected by GST... One of the biggest taxation reforms in India – the Goods
and Service Tax (GST) -- is all set to integrate State economies and boost overall
growth. GST will create a single, unified Indian market to make the economy
stronger. Experts say that GST is likely to improve tax collections and Boost India’s
economic development by breaking tax barriers between States and integrating India
through a uniform tax rate.
On the whole of India could be followed single point tax system in future
events, the foreigner can be established business industry in India through prime
minister make in India scheme and also increased employment opportunities there.
Moreover huge foreign investors can be established large industries in Tamil Nadu
specifically Madurai to Tuticorin national highway and also domestic investor offered
to started small industries an account of prime minister announced startup scheme.
Due to cascading tax effect, It would be possible to be increased number of tax
payer and also business man could be disclosed original account and pay fair tax.
At presently indirect taxes could be charged to tax on manufacturing commodities
minimum rate is 19.5% (production tax at the rate of 12.5% + CST 2% +VAT-5%) and
maximum rate is 29% (production tax at the rate of 12.5% + CST 2% +VAT-14.5%).
Due to consumer benefits recommended for GST tax rate on essential commodities
does not exceed 18% and also RNR tax rate 16%. Finally overall tax revenue
60% could recover from indirect taxes, it can be increased every year. So it would be
possible for India to sustain its growth.
References
1. www.ijsrm.in
2. http://goodsandservicetax.com
3. http://en.wikipedia.org/wiki/goodsandservicetax(India)
4. http://www.idtc.icai.org/download/BGMonGSTmarch
5. http://www.newindianexpress.com
6. www.gstindia.net.
7. http://goodsandservicetax.com/gst/showthread.php
8. www.taxmanagementindia.com
9. Issue of Dhinamalar in dated on 14.8.2017.
ABSTRACT
Agriculture sector has been the backbone of Indian economy which ranks only second after
China and European Union, in term of farm output worldwide. Agriculture is equally true that
the darkest sides of the green revolution are equally horrible resulted into the epidemic of
farmers suicide, soil fertility, ecological imbalance and widened rural inequality and
indebtedness. This paper presented the farmer crisis in India, major causes behind the
emerging agrarian crisis issue of farmers’ suicide; problems and prospects, vicious debt circle
and need of reform. The detailed discussion regarding the agrarian crisis demands a well
structured agricultural policy management from the side of government of India to reduce the
risk involved in agrarian practices. The decline in both productivity and profitability is a vital
factor leading to chaos and disruption in farm sector need to be managed with optimum
strength and prudence. The threat perception related to risk management in agriculture such
as; yield variability, price uncertainty determined by local demand-supply factor, credit
scarcity, income or weather related uncertainties, need some serious re-think and calculated
efforts. Moreover, the recent crisis in agriculture needs to be handled in the wider perspective,
including ecological and socio-economic roots of the crisis.
Introduction
Agriculture sector has been the backbone of Indian economy which ranks only
second after China and European Union, in term of farm output worldwide.
Agriculture is equally true that the darkest sides of the green revolution are equally
horrible resulted into the epidemic of farmers suicide, soil defertility, ecological
imbalance and widened rural inequality and indebtedness.
The post economic reforms (1990s) further escalated the agrarian crisis in
India by trade liberalization resulting into dominance of powerful global corporate
monopoly in all the stages of agriculture in India. The crisis became more rampant
with the emergence of fractured verdict in parliamentary election since 1990s.
The coalition government remained relatively weak and fragile in formulating any
formidable agrarian policy to tame the emerging challenges.
farmers committed suicide due to crop loss in the short period from December 1997 to
May 1998. The year since 2000 saw a whooping increase in the farmer’s suicide in all
parts of the country. The first half of the 2000s experienced as many as 86,922
farmers` suicides, of which, 86 per cent were males. The states where SMR for male
farmers was higher than the national average of 17.5 includes, Kerala, Maharashtra,
Chhattisgarh, Karnataka, Tamil Nadu and Andhra Pradesh.
The increased numbers of farmer’s suicide is symptomatic to variety of
reasons carrying inter-connecting cause-effect relationships. In addition to natural
roots most importantly, climate change causing monsoon uncertainty, extended
droughts and severe flood, the human mismanagement, most notably, low output of
crops, shrinking farm subsidy, crop insurance and agriculture credit especially to
poor and landless farmers has been at the root of the crisis. More importantly, to
control the price irregularities, private credit and input market required some serious
re-thinking and amendments. More sensitized efforts from the governmental
endeavor in the form of increased financial and technological structure to address
fundamental requisites of agriculture are urgently required.
great paradox that, Punjab, the “Food Bawl” of India which contribute about
70 per cent to annual food grain production in the country has also experienced the
cases of farmer’s suicide. According to a study conducted by Bryan Newman
“A farmer allegedly committed suicide after failing to sell off his paddy crop in the
Nadala Mandi premises in Kapurthla district on Sunday night”. The Punjab
government has even decided to rehabilitate the families of farmers who committed
suicide through introducing a policy in 2001.
are relied on rain- God for their agrarian fate. The dilemmas of Abundance of Water
and Paucity of Water, over crop and low production have brought the farmers to
misery. The poor return from the agriculture in more profound among the marginal
land holders and small farmers. It has been estimated in a study that, two fifths of
the farmers belonging to the category of marginal land holders are desired to shift to
other sectors for their livelihood. The Situation Assessment Survey of Farmers, 2003
indicates that the landless, lower marginal, upper marginal, small and semi-medium
farmers has been categorized as most vulnerable which has greater monthly per
capita consumption than monthly per capita income. However, the income is higher
than their consumption expenditure, amongst medium and large farmers.
Need of Reform
The growing menace of marginalization of the agriculture sector resulting into
horrific incidence of farmers suicides in all parts of the nation is a serious challenge
not only to the socio-economic fabric of the nation but have serious implication and
challenges to the building in India. The ignorance of agriculture from public policy to
personal efforts could bring disastrous consequences to a nation where more than half
of the population is directly dependent to agriculture for their very survival. It is
therefore, necessary to re-think on the growing crisis in agriculture with plan,
purpose and innovation. Constructive thinking. Holistic strategy and inclusive
approach could well attribute to the slogan” Jai Jawan Jai Kisan” popularized by Lal
Bahadur Shashtri, the late, Prime Minister of headed by a noted agriculture
specialist, M.N. Swaminathan could work as an effective remedial to the plight of
over 600 million farmers in India.
industry and service. However, the fulfillment of the basic needs is more significant
than spending money on luxury goods as Joan Rawls, a contemporary American
Philosopher mentioned in his most celebrated work, A Theory of Justice, “you cannot
compensate for the sufferings of the distressed by enhancing the joy of the
prosperous”.
Conclusion
The detailed discussion regarding the agrarian crisis demands a well
structured agricultural policy management from the side of government of India to
reduce the risk involved in agrarian practices. The decline in both productivity and
profitability is a vital factor leading to chaos and disruption in farm sector need to be
managed with optimum strength and prudence. The threat perception related to risk
management in agriculture such as; yield variability, price uncertainty determined
by local demand-supply factor, credit scarcity, income or weather related
uncertainties, need some serious re-think and calculated efforts. Moreover, the recent
crisis in agriculture needs to be handled in the wider perspective, including ecological
and socio-economic roots of the crisis.
References
1. Aggarwal, P.K. (2009), “Vulnerability of Indian Agriculture to Climate Change:
Current State of Knowledge,” Indian Agricultural Research Institute, New Delhi.
2. Balamurlidhar, P. (1999), “Crisis in the Countryside: Farmer Suicides and
Political Economy of Agrarian Distress in India,” Working Paper Series, Vol. 21,
No.1 (1996), pp.27-48.
3. Gill, S.S. (2004), “Farmers’ Movement: Continuity and Change,” Economic and
Political Weekly, Vol.39, No.27 (July 3-9, 2004), pp. 286-289.
4. Government of India, Ministry of Agriculture (2015), Annual Report 2011-2012,
New Delhi.
5. www.un.org/esa/sustdev/csd/csd16/pf/...farmers-relief.pdf.
Dr. M. Yathirajan
Professor, Department of Commerce, Yadava College, Madurai
S. Sabarinathan
Assistant Professor, Department of Commerce, Yadava College, Madurai
ABSTRACT
In India Milk production is dominated by small and marginal landholding farmers and also
by landless laborers who in aggregate own 70% of the national milch animal herd. Usually one
or two milch animals enable the farmers to generate sufficient income to break the vicious
subsistence agricultural-debt cycle. Milk is highly a perishable commodity and the surplus
can’t be stored for a long time. The members of the society are much tempted to supply milk to
the private milk traders. This affects the supply of milk to the society and the union. Another
main reason for incurring losses is due to lack of knowledge on systematic network construction
for collection of milk for the union from various societies located in the study area. Supply
chain is an integrated manufacturing process wherein raw materials are converted into final
products, then delivered to customers. India is the highest milk producer in the entire globe.
India is well known as the ‘Oyster’ of the global dairy industry, with opportunities galore for
the entrepreneurs globally. It might be a dream for any nation in the world to capitalize on the
largest and fastest growing milk and milk products' market. The dairy industry in India has
been witnessing rapid growth with liberalization.
Key Words: Aavin Milk, Societies, Supplier & Madurai.
Introduction
India, the biggest democratic country in the world, is mainly made of villages.
Co-operative movement was started in the country to alleviate the poverty in the
rural villages of our nation. With the sole aim of uplifting the standard of living of
millions of illiterate and downtrodden people living in these villages by harnessing
and canalizing their resources and energies through cooperative endeavors. The milk
industries remain strategically important to the economy with backward and forward
links to several ancillary sectors. Under section 11 of the Indian Contract Act of 1872
a minimum of 25 or more individual owning milch animals can form a Primary Dairy
Co-operative Society with one or more villages as its area of operations. During
200910, out of 9534 functioning societies only 6841primary Milk Producers’
Co-operative societies were earning profit. Milk is a highly perishable commodity and
the surplus cannot be stored for a long time. The demand for milk is almost uniform
throughout the year.
Methodology
In this paper factors influencing the members’ utilization of the societies have
been analyzed. The percentage analysis has been applied to find out the factors
influencing the supply of milk to the society. For this purpose the main factors such
as, family size, group leader, distance, literacy, other income and land holding have
been taken as independent variables and milk supplied to the society as dependent
variable. The data collected for this study is primary and secondary in nature.
The researcher has followed random sampling method. Sixty respondents were
selected for this study.
Reviews
Chinnaiyan et al (1980) in their study “Marketing of Milk in Erode Taluk in
Tamilnadu” covered the market functionaries, market channel and price structure.
Market structure was identified as oligopolistic at the assembling level as well as in
distribution level. Pramod and Raja Sekhar (2011) discussed about the various risks
and uncertainties from a dairy industry perspective and their impact at various
stages of the supply chain. The study concluded that the vulnerabilities in terms of
risks and uncertainties get multiplied with the perishability nature of the raw
material that is milk which the industry deals in.
Milk Industry – A View
The first co-operative milk supply union was formed early in 1912. But it did
not produce tangible results. In 1927 Madras co-operative Milk Supply Union Limited
was started with 13 feeder societies and a share capital of Rs.242. The Dairy
Development Department was established in 1958 in Tamilnadu. With the adoption
of 'Anand pattern' in the State of Tamilnadu, Tamilnadu Co-operative Milk
Producers' Federation Limited was registered in the State on 1st February 1981.
Tamilnadu Dairy Development Corporation Ltd., were transferred to the newly
registered Tamilnadu Co-operative Milk Producers' Federation Limited, popularly
known as "Aavin". The milk production in Tamilnadu per day is 145.88 Lakh litres.
Co-operative milk supply unions were founded primarily based on the Indian
Co-operative Societies Act of 1912, as amended in 1932.The concept of dairying has
been practiced from prehistoric period. As the time progressed certain technological
innovations were adopted in dairying. Co-operative milk supply unions were founded
primarily based on the Indian Co-operative Societies Act of 1912, as amended in
Findings
It reveals the 43%of them of the respondents belongs to the Small size of family.
Among the total 60 Respondents, 59% are live in short distance of milk society.
It is found that 47% of respondents have completed School level education.
Sixty Nine percentages of the respondents earn a low level of income from others.
Among the total respondents 43% of the respondents are hold the small size land.
Fifty two percentages of respondents high satisfied and satisfied like utilization of
society because it is a government corporation
Suggestion
Aavin can motivate the small size family members to become as society members.
Aavin has to introduce good schemes to attract all sorts of people
To take necessary steps to feed to illiterate people about their schemes.
To create awareness to the big and to the marginal size land holders.
Aavin may strengthen milk supply chain towards suppliers are identifying and
giving constant encouragements.
To make small land holders loyal towards Aavin.
Conclusion
The most repeated and the undisputable saying which holds good even today
is that agriculture is the backbone of Indian economy. Dairying is one of the sub-
sectors of agricultural economy. The remedy lies in educating the people on scientific
and modern methods of rearing milch animals, procuring, processing transporting
storing and distributing dairy products.
Reference
1. Annual Report of Co-operative Dairy Society
2. Ananthakrishnan, C.P. and Padmanabhan, P.N. “Dairy Farming and Milk
Production”, Shri Laxmi Publications, Madras 1992.
3. Chakravarthy, T.K. and Reddy, C.O. “Dairy Development Programme; process
and impact a study at village level”, Journal of Rural Development, vol.1, No.4,
July, pp.459-512.
A. Bhuvaneswari
Assistant Professor in Commerce, E.M.G. Yadava Women’s College,
Dr. K. Alagar
Head & Associate Professor in Commerce, Yadava College, Madurai
ABSTRACT
A bank is a financial institution and a financial intermediary that accepts deposits and
channels those deposits into lending activities, either directly or through capital markets.
Banks offer different channels to access their different banking products and services through
ATM, Branch, Mobile banking, Internet banking, etc. Green banking will be mutually
beneficial to the consumers, banks, industries and the economy. The study aims to identify
opinion and awareness of bank employees and customers as regards to green banking concept
in Indian bank in Madurai. Also it aims to find the customers usage relating to Green Banking
Service. It is necessary to identify various initiatives taken by bank on the concept of green
banking in order to influence customer and make them user friendly. Researcher will study the
impact of different Green age group of customers with regard to green initiatives taken by
Indian bank in Madurai.
Key words: Green Banking, Customer Awareness, Green Banking. Initiatives, Online
Banking
Introduction
Today every business organizations and corporations are adopting
“GO GREEN” concept because of the increasing friendly attitude of the society
towards the environment. Banks play a critical role in the economic development of
the Nations by providing various Socio-Economic activities like Job creation, wealth
generation, Poverty eradication, entrepreneurial activity etc. Besides these activities,
banks are introducing the practices of green banking in order to protect the
environment and to reduce carbon emission. Green banking will be mutually
beneficial to the Consumers, banks, industries and the economy. For consumers this
shift towards green banking means that more deposit and loan products will be
available through online and mobile banking. Green banks should also have lower
fees and give rate reductions on loans going towards energy-efficient projects. This is
banking beyond pure profit. Another important aspect of green banking is the
involvement and outreach from the individual banks to their local community.
Review of Literature
Schmidheiny and Zorraquin (1996), “Green banking is generally defined as
promoting environmentally friendly practices that aid customers in reducing their
carbon footprint through their banking operation activities. These practices include
such things as online banking, statements, bill payments, and account opening.
Banks also invest in internal initiatives to reduce their own carbon footprint”.
Research Methodology
The research methodology used in this study is based on primary as well as
secondary data. The primary data was collected from the study conducted through
questionnaire. Secondary data for the study has been collected from websites of
Indian banks and the published and unpublished documents of the bank are also to
be referred.
Sampling Method
For the survey, stratified random sampling technique has been planned.
The sample size includes 150 customers of the bank to be selected.
Tools Used
The statistical tools such as Percentage Analysis, Chi square test have been
used for the purpose of analyzing data collected.
Findings
● 33% of the respondents fall in the age group of 35-45 and minimum age group is
below 25.
● Among the respondents, 96% of the respondents avail Net Banking services.
Majority of the respondents 96% are aware about Green Banking.
● There is no relationship between age of customers and awareness of Green
Banking.
● There is no relationship between age of customers and usage of Green Banking.
● There is no significant difference in the convenience of using Green Banking with
regard to age of customers.
● There is a significant difference in the cost saved by using Green Banking with
regard to age of customers.
● There is no significant difference between feature availability and age of
customers.
● There is no significant difference between risk privacy and age of customers.
Suggestions
Bankers may educate the customers with Green Banking initiatives such as
Green Channel Counter 67%, Green Loans 50 %, Green Checking& Energy-
efficient branches and loans 33% etc.
Reward or Incentive can be given to the users of Green Banking.
Conducting Workshops, Seminars, loan mela to the bank employees as well as to
the customers
Personal Identification Number (PIN)/ Password to be kept secret.
Awareness green banking to bring illiterate people under the scope.
Conclusion
Banks are responsible corporate citizens. Banks believe that every small
‘GREEN’ step taken today would go a long way in building a greener future and that
each one of them can work towards to better global environment. ‘Go Green’ is an
organization wide initiative that moving banks, their processes and their customers
to cost efficient automated channels to build awareness and consciousness of
environment, nation and society. From the above research we can see that green
initiatives like Green Mortgages, E – Investment services, Conducting workshops and
seminars for green banking, Providing recyclable debit and credit cards is not
familiar in Green initiatives by the bank as per the respondents.
References
1. Green, C.F. “Business Ethics in Banking”. Journal of Business Ethics 8.8
(1989):631-634
2. Jasdeep Kaur (2014). “Green Banking in India”. Indian Journal of Applied
Research. Volume 4/Issue 1/January 2014/ ISSN 2249-555X
3. Pravakar and Nayak, Bibhu Prasad, (2008), Working Paper submitted to
Institute of Economic Growth, New Delhi.
Dr. Y. Fathima
Assistant Professor, Department of Commerce, E.M.G. Yadava Women’s College, Madurai
ABSTRACT
Consumer behavior is important in helping us to forecast and understand the products as well
as brand preference. Aachi food products faced lot of problems in selling their products to the
real persons who are in need. In order to capture the market for their products they made a lot
of advertisements by covering both rural and urban area people. They created awareness about
their instant food products to the public through effective advertisement in various ways. In
order to know the consumer behavior towards Aachi food products the researcher has chosen
this topic. The data related to the topic are collected through questionnaire and it was analyzed
with the help of appropriate statistical tools. The results are presented in table and are
exhibited by charts. Suitable suggestions were given to improve the marketing of Aachi food
products on the basis of findings.
Keywords: Consumer Behaviour, Advertisement, Brand
Introduction
Consumer is the king of the market. Each and every company should produce
their product by having consumers in their mind and their products should satisfy
the consumer’s needs. In marketing, customer satisfaction is the most important term
and it is a measure of how goods and services produced and supplied by a company
meet customer’s expectation in the market. It is a key element of business strategy.
Consumer behavior is one of the stimulating and challenging areas in market
studies. Understanding the behavior of the consumer is of great challenge.
In everyday life instant food products plays a dominant role and more number of
housewives depend on the instant food products as it makes their life easy go. Instant
food products make them to cook anytime with less time, energy, labour etc.,
By considering all these facts AACHI food products occupies majority share in the
market and it provides lot of employment opportunities. It reaches to all the levels of
people through its strong marketing network and its success lies in the innovation of
manufacturing procedures.
It has introduced many varieties in their production and it gets succeeded. It includes
Spices & Masalas, Pickles, Paste & Curry, and Ready to cook food products.
It is a south Indian food product having high quality in their ingredients.
It presently has a presence across 12 states in the country. It entered most of the
North Indian states. The capacity expansion plans under progress include setting up
of an R&D at an investment of Rs 9crore to bring in changes to the products to suit
the international tastes and standards. This Trading Company has received many
awards and certificates. Among them few are- National Award 2016 from President of
India, Most Influential Leader 2017 by ERTC, India’s fastest growing brand award
given by FAST 50.
Research Methodology
Research Design: It is Exploratory and Descriptive design
Sampling Design: The sample size of the specific study is 100 and Simple Random
Sampling: Technique is employed.
Methodology: For this study both primary and secondary data are collected.
Statistical tools such as Percentage analysis and Chi-Square tests were applied for
analysis.
Review of Literature
● Ali M (1992) discussed in his study that to create awareness of high fat content of
pies, studied consumer and producer awareness about nutrition labeling on
packaging. For this, seven leading pie brands were analyzed for fat content and
are ranged from 7.1 to 19.2% fat. Potato topped or cottage pies had the lowest fat
content (7.1-9.2% fat). Most pies did not display nutritional labeling on packaging.
Over half of the consumers (52%) who responded to the survey (42% response
rate) were aware of the campaign. The study was successful at raising consumer
awareness about the high fat content of pies and influencing the food environment
with a greater availability of lower fat pies. It is possible to produce acceptable
lower fat pies and food companies should be encouraged to make small changes to
the fat content of food products like pies. Potato topped pies are lower in fat and
are widely available. Regular pie eaters could be encouraged to select these as a
lower fat option.
● Amitha (1998) deals in her study that there is complete agreement between
ranking given by the housewives and working women regarding the reasons
promoting them to buy Instant food products. Age, occupation, education, family
size and annual income had much influence on the per capita expenditure of the
Instant food products.
● Banumathy and Hemameena, M (2006) discussed in their study on brand
preference of soft drinks in rural Tamil Nadu that using Garrets ranking
technique, to rank factors influencing the soft drinks preferred by rural consumer.
They found that, the product quality was ranked as first, followed by retail price.
Good quality and availability were the main factors, which influenced the rural
consumers of a particular brand of a product.
● Bristow. D. N, Schneider. K. C., and Schuler. D. K., (2002) discussed in their
study that the change in consumption pattern was due to changes in food habits.
If income and urbanization increase among consumers, the percentage of income
spent on consumption increases. The urban consumers’ preferred mostly branded
products compared to rural consumers. The most significant factors influencing
buying decisions were accessibility, quality, regular supply, door delivery and the
mode of payment.
Percentage Analysis
Table 1 Brand Names of Food Products Consumed by the Respondents
Brand Names Frequency %
Aachi 45 45
Sakthi 25 25
Sree Annapoorna 13 13
Avitaa 7 7
Anjali 5 5
MTR 5 5
Total 100 100
Pickles,
S. Spices & Ready to Cook
Particulars Paste & Total
No Masala Food products
Curry
Low cost incurs for home
1 10(0.1) 8(0.08) 5(0.05) 23(0.23)
preparation
Differences in tastes
2 (between home prepared 6(0.06) 5(0.05) 3(0.03) 14(0.14)
and purchased)
Dislike of purchased
3 product by the family 9(0.09) 5(0.05) 3(0.03) 17(0.17)
members
High price of market
4 6(0.06) 8(0.08) 4(0.04) 18(0.18)
product
Lack of Awareness of
5 products availability in the 4(0.04) 5(0.05) 5(0.05) 14(0.14)
market
Non-availability of Instant
6 5(0.05) 4(0.04) 5(0.05) 14(0.14)
food Products
Note: Figures in bracket indicates parenthesis of percentage
Interpretation
From the above table computed value at 5 percent level is less than the table
value for the variables Age and Educational Qualification. Therefore the null
hypothesis accepted whereas for Gender table value is less than the calculated value.
Hence it can be concluded that the null hypothesis is rejected.
Research Findings
● 45% of the sample respondents are consuming Aachi Food Product
● 52% of the sample respondents opined that the Aachi food product is good.
● Regarding Health Perception 53% of the sample respondents stated that instant
Aachi food product is not good for health.
● 60% of the sample respondents felt that instant aachi food products are not safe
for consumption.
● 75% of the respondents stated that price of Aachi food product is reasonable
● 45% of the sample respondents opined that Television advertisement plays an
important role for Aachi food products
● The most influencing factor to purchase Aachi food products is Aroma
● 23% of the sample respondents felt that preparation of instant food products is
cheaper than the Market products
Conclusion
Consumer behaviour is a stimulating sphere consisting of the consumers
themselves. Consumption of increase of instant food products is due to increase in
urbanization, breaking up of the traditional joint family system, time, convenience,
changing lifestyles and increasing level of affluence in the middle income group.
Instant food products are found today in the kitchen shelves of every indian
household. All the respondents are aware of various instant food products. The ready
availability and saving of the time are the reasons for consuming instant food
products. Food zones and supermarkets are the major source of purchase of instant
food products. The consumer’s relationship with food and other everyday goods has
changed dramatically, not only in the way products are purchased, but also in the
way they are consumed.
References
1. Ali, M., 1992, An analysis of fruits and vegetable processing, a comparative study
of private and public sector units. M.Sc., (Agri) Thesis, Univ. Agric. Sci.
Bangalore.
2. Amitha, K., 1998, A study of household consumption pattern of selected dairy
products in Bangalore city. M.Sc., (Agri) Thesis, (unpublished). Univ. Agric. Sci.
Bangalore.
3. Banumathy, S. and Hemameena, M., 2006, Analysis of brand preference of soft
drinks in the global environment. Ind. J. Marketing, 36: 12-16.
4. D.Kamalaveni and M.Nirmala (1996), consumer behaviour in instant food
products. Indian journal of marketing. PP 12-8
5. www.fmcgmarketers.com
6. www.consumersreports.com
7. www.aachiwikipedia.com
8. http://food products.com
ABSTRACT
With a population already in excess of one billion people, India has caught in the eyes of
multinational corporations across the globe as a place of opportunity for exploring new
markets. Rural areas in particular exemplify these differences in understanding the
characteristics that make the people and the market in rural India unique can help
corporations to enter this market with success. Two-thirds of the countries consumers live in the
rural area and almost half of the national income is generated in rural market. Rural
marketing is a process of delivering better standard of living and quality of life to the rural
environment taking into consideration the prevailing rural milieu. According National Council
for Economic Research, the market penetration of Fast Moving Consumer Goods (FMCG) in
rural India is on increase. The present study entitled “An Empirical Study On Rural Consumer
Behaviour With Respect To Corporate Sector Brands In FMCG Category “was carried out with
the respective of analyzing the buyer Behaviour in rural markets. The study was carried out
with the sample size of 100 rural consumer of FMCG selected based on non probability
sampling method namely convenience sampling, from the study area Therampalayam, a rural
area in Mettupalayam taluk of Coimbatore city. The data were collected using a structured
interview schedule and analyzed using descriptive statistics, non parametric test such as
Chi–square test and Friedman two-way. It is concluded that the approach strategies and
marketing mix need to be modified and examined from rural consumer perspective to be
successful in the rural markets.
Introduction
“The rural market is a significant part of our marketing strategy which
enables to help the consumer link with our product”
-Sanjeev Gupta
With a population already in excess of one billion people, India has caught in
the eyes of multinational corporations across the globe as a place of opportunity for
exploring new markets. While India has portions of their population that would be
considered wealthy or middle class by western standards, a much greater percentage
of India’s population is low income. As a result they spend money, live and use
products differently than the countries were most multinational corporations
originate. Rural areas in particular exemplify these differences in understanding the
characteristics that make the people and the market in rural India unique can help
corporations to enter this market with success. The key characteristics define the
term rural determine the types of products and packages that are typically used in
rural India.
Rural Marketing
“Rural marketing can be seen as a function which manages all those activities
involved in assessing, stimulating and converting the purchasing power into an
effective demand for specific products and services and moving them to the people in
rural area to create satisfaction and a standard of living to them and thereby
achieves the goals of the organizations”(Ankita Khandkar)
unorganized sector. Unlike the US market for FMCG market remains highly
fragmented with roughly half the market going to unbranded, unpackaged home
made products. This presents a tremendous opportunity for makers of branded
products who can convert consumers to buy branded products.
At present, urban India accounts for 66 percent of total FMCG consumption,
with rural India accounting for the remaining 34 percent. However, rural India
accounts for more than 40 percent consumption in major FMCG categories such as
personal care, fabric care, and hot beverages. In urban areas, home and personal care
category including skin care, household care and feminine hygiene will keep growing
at relatively attractive rates. Within the foods segment, it is estimated that processed
foods, bakery, and dairy are long-term growth categories in both rural and urban
areas.
The Top 10 Companies in FMCG Sectors are Hindustan Unilever Ltd, ITC
(Indian Tobacco Company), Nestlé India, GCMMF (AMUL), Dabur India, Asian
Paints (India), Cadbury India, Britannia Industries, Procter & Gamble Hygiene and
Health Care, Marico Industries.
at relatively attractive rates. Within the foods segment, it is estimated that processed
foods, bakery, and dairy are long-term growth categories in both rural and urban
areas.
income will indicate household purchasing pattern. Small families can maintain
higher living standards as they have more discretionary purchasing power. About 80
percent of the respondents have small families. The respondents were classified into
Destitutes, Aspirants, Climbers, Consumers and Very rich based on their ownership
pattern and consumption behaviour across various segments as per National Council
of Applied Economic Research. The income level of respondents showed that there
was no destitute who has annual income below Rs 16,000. The destitutes is one who
is considered as market for only basic and essential commodities. The aspirants
indicate the market for basic durable goods with annual income between Rs 16,001
and Rs 22, 000, of the total respondents, 30 percent were aspirants. The climbers
with annual income between Rs 22,001 and Rs 45,000 and the consumer with Rs
45,001, to Rs 2, 15,000, constitute market for consumables and consumer durables. 25
percent of the respondents represent this class. The very rich with the annual income
above Rs 2, 15,000 represents the market for international brands, constitutes 30
percent of the respondents (Exhibit 1). Majority of the respondents (20 percent)
owned Television, 30 percent owned radio, 15 percent of the respondents owned 2 in 1
Tape recorder and 25 percent of the respondents owned computer in rural area and
only 10 percent of the respondents have owned computer with internet. It is inferred
that majority of the respondents with the small family size and higher levels of
income with majority of the respondents under the classification of climbers and
consumers. Wider reach of television and radio in the rural households,
Conclusion
The essence of modern marketing is to satisfy the customer, and naturally all
the marketing activities should revolve around the customers and their buying
behaviour. The key to ensure customer satisfaction lies in understanding the
customer, his likes, dislikes, buying behaviour, buying motives and buying practices.
In the light of this, rural consumer behaviour provides a sound basis for identifying
and understanding consumer needs. Knowledge of customer behaviour is important
for effective marketing efforts and practices. The unique features of FMCG provides
a brand market base as it is relatively low cost and has quick turn over. The rural
FMCG market has its own set of challenges. Therefore, organizations need to unlearn
and then relearn the marketing strategies and tactics that will enable harnessing the
immense rural potential. The approach strategies and marketing mix need to be
modified and examined from rural consumers’ perspective to be successful in the
rural market. It is hoped that the present study will be found useful for the FMCG
marketers waiting since long to tap the unexplored rural markets.
References
1. Annapurna.M.Y, “Marketing to the Indian rural consumers”, Icfai Journal of
Marketing Mastermind, May 2009, pp.32-42.
2. Arul Kumar.S and Madhavi.C. “Rural Marketing for –FMCG, Indian Journal
of marketing”, Vol.XXXVII, No.4, April 2006, pp.7-17.
3. Krishna Mohan Naidu.Y, “An Evaluation of Consumer Awareness in Rural
Markets”, Vol.XVII, No.4, April 2004, pp.8-20.
4. Lokhande.M.A. “Rural Marketing: A Study of Consumer Behaviour”, Indian
Journal of Marketing, Vol.XXXVII, NO.12, December 2004, pp.15-21.
T. K. Latha Maheswari
Assistant Professor, Department of B.Com CA
Fatima College (Autonomous)
ABSTRACT
Ecommerce portals are now trending in India. It is growing in every place and customers are
showing interest in using these portals effectively. There are so many portals which are unique
in their features and the design of website. After analyzing the whole model of E-commerce
I found basically three business Models have evolved over a period of time in this space and
each has its own Pros & cons. Rest all business models are mix and match following 3
shopping sites.
Keywords: Amazon, Snapdeal, Flipkart.
Introduction
E-Commerce in India is one of the fastest growing & emerging economies of
the world, having a very huge consumer base & a big mass connected to Internet
(approx. 100 million). The E-business trend have been catching up in the country
with the increasing rates of local& domestic firms using the E-business model to do
business which is very different from the traditional way of doing business in India, it
has lead to a interesting trend in the market for the online shopping starting right
from ordering food, grocery, vegetables, fruits, taxis, electronics & so on
Snapdeal
Snapdeal greatly works upon the dedicated customer service checkpoints to
cover up the vision to be the best online purchase website providing satisfactory
customer experiences and making its way up in the best e-commerce sites in India.
SnapDeal offers everything from local daily deals on restaurants, spas, travel to
online products deals. They offer you best price with free shipping.
Snapdeal is an e-commerce company based in India. It is a daily deals website
that features discount offers across lifestyle segments such as dining, health
& beauty, entertainment and travel. It also offers discounts on products like
electronics, perfumes, watches, bags, sunglasses, coaching classes, apparels and
mobile phones.
products online, it even allows users to search by using various filters like by price
range, search by brands, by age group, by hot-selling etc.
If a certain product is not available or is out of stock it even ask users to input its
details & then when the products is available the desired users are informed, this
really helps one connected to the products they are seeking & leads to repeat &
frequent purchases.
It’s very quick to process the payments & transactions by a every efficient &
flexible
To sumup with the following benefits enjoyed by the online user
Convenience No crowds
Better prices Payment Options
More variety Product Reviews
Fewer expenses & Wish List/Registry.
Price comparisons Real-Time Inventory
Less compulsive shopping
Express Checkout
Order Tracking
Special Offers
Conclusion
The amount of popularity Indian shopping sites have gained in the recent
decades serves testimony to the fact that it is a niche in itself, and through the
exercise of careful discretionary standards, people can actually benefit from the
services it stands to offer an experience online shopping in India. This niche is
predicted to achieve enhanced revolutionary standards with the advancement of
technology and incorporation of highly advanced creative marketing strategies for
greater efficacy on the economic scale.
References
1. http://www.nitinbhatia.in/marketing-case-study/the-future-of-e-commerce-in-
India/
2. http://www.slideshare.net/ifourvineela/comparative-study-of-indian-ecommerce-
portals-flipkart-snapdeal-and-shopclues
3. http://www.slideshare.net/probikersagar/study-of-flipkartcom-indias-leading-
ebusiness-portal?related=2
4. http://www.will-harris.com/design/ebay.html
5. http://yourhttp://yourstory.com/2014/04/flipkart-snapdeal-worried-global-retail
6. http://www.slideshare.net/abhishek_g/snapdeal?related=2
Mrs. K. Sangeetha
Assistant Professor, Department of B.Com (CA)
Fatima College, Madurai
Introduction
Women have been working for generations and form a vital component of the
economically active labour force. Beyond the labour level number of women entering
into the decision making position has increased significantly throughout the world
reflecting the changing status of women in society. Among the various sector Higher
education was recognized as a powerful instrument of socioeconomic advancement of
the society in general and a vehicle for upward social mobility for deprived and
marginalized sections. Earlier, school teaching and nursing were the occupations first
permitted to middle and upper class and caste women in the Indian society. When
women entered university teaching, their status was significantly higher than that of
school teachers. Since most positions in the management of higher education are
given to academics who make a mark as researchers, scholars or teachers it is
important to understand this preferences and to look at how women who enter
academe perform. Although women have held practically every position in the
management of higher education, their representation is extremely small. It is
important to note that even the women‘s colleges in the country, which exclusively
serve women students, do not always have women principals. The purpose of the
study is to demonstrate career obstacles that influence women managers‘ (Principals,
Vice Principals And Head of the Department) career development who are working in
Government, Aided and Self finance Arts and Science colleges. This study
investigated relevant factors, processes, and experiences of women who entered as a
faculty in the higher education field and became a manager in arts and science
colleges.
Review of literature
1. Parvathy Reddy (2006) ―An investigation of the barriers that impede the career
advancement of women in management‖, in his study he investigated the career
barriers women experience in the workplace. His study result says the barriers
which most women perceive and experience in the organisation are identified as
racial discrimination, followed by sex discrimination and job market constraints.
2. Sheila Ramazan (2010) ―Women in management‖ In his study he indicated that
female need to overcome of their fair of being open, because female tend to be
more reserved and scared of being criticized which needs to be improved.
3. Suma Chitins (2013), ―India: The Place of Women in the Management of Higher
Education in India‖ In her study she made a strong recommendation that training
courses for women managers must alert them to their responsibilities in this
direction, and guide them on how they can present a united front so as to bring
about the structural changes required and to reduce political intervention.
Research Methodology
Fatima College and Lady Doak College, Meenakshi College is the study area
selected for this research. Primary data is collected through well structured
questionnaire. Samples of 50 women managers holding Principal, Vice Principal and
Head of the Departments from government, aided and self finance arts and science
colleges. Simple random sampling method is used to select the samples. For the
purpose of analysis the data were further processed by using statistical tools.
The statistical tools are 1) Simple Percentage 2) One Way ANOVA
Table no 4 depicts the results of One Way ANOVA with respect to career
obstacles based on the various personal and career factors of respondents. The results
indicate that there is a significant difference in the career obstacles with respect to
age, teaching experiences and Income. The other factors are not significantly
different so this implies that the null hypothesis can only be partially accepted.
Tukey Post Hoc test was conducted for the significantly different factor that is ―Age‖,
―Teaching experience‖ and ―Income‖ .The result shows managers whose age are below
40 years have faced higher level of career obstacles and with regarding teaching
experience who are below 15 years have perceived higher level of career obstacles
similarly Managers who receives income below Rs 50,000 have faces higher level of
career obstacles.
Table 4 One Way ANOVA analysis of Career Obstacles with Personal Factors
Sl. No Factors F p
1 Age 16.83 .000**
2 Marital status 0.1 0.905
3 Teaching Experience 17.35 .000**
4 Managerial experiences 1.94 0.144
5 Income 14.48 .000**
6 Type of management 6 0.123
7 Designation 2.158 0.128
Findings and Suggestions
The top three Career Obstacles which is highly perceived by women managers
are ―Limited time or support‖, ―Family Responsibility‖ and ―Age or late start‖.
Women managers should develop network and relationships which helps to
overcome the Obstacle that is ―Limited time and support‖.
Family responsibilities like marriage and child bearing should not affect the
careers. Prioritizing the responsibilities for the day and by planning ahead one
can able to juggle her personal and professional lives with ease.
The study reveals women in the age group of below 40 years and teaching
experiences of below 15 years are facing high level of career barriers. They can
overcome this by having more positive attitude towards work and personal life
which would lead a better future.
Managers whose Income is below Rs 50,000 per month had perceived higher level
of Career Obstacle. This may due Lack of finance to fulfill the career development
factors like completing PhD .This can be overcome by clearing NET or SET exam
which is considered equivalent to PhD.
Conclusion
The academic career system has unique features, which made it dissimilar
from other career systems. Succeeding in an academic career requires extra efforts
from academics especially when it refers to women. In spite of various Career
Obstacles women can achieve through their active involvement and distinctive
contribution that is the only identity to enhance their career in higher education
sector especially in arts and science stream.
References
1. ParvathyReddy (2006) ―An investigation of the barriers that impede the career
advancement of women in management‖.
2. Sheila Ramazan (2010) ―Women in management‖
3. Suma Chitins (2013), ―India: The Place of Women in the Management of Higher
Education in India‖.
J. Kalaisigamani
Ph. D Research Scholar, Department of Economics,
Bharathiar University, Coimbatore
ABSTRACT
Goods and Services Tax is expected to provide the much needed stimulant for economic growth
in India by transforming the existing basis of indirect taxation towards free flow of goods and
services within the economy and also eliminating the cascading effect of tax on tax. In view of
the important role that India is expected to play in the world economy in the years to come, the
expectation of GST being introduced is high not only within the country, but also in
neighboring countries and in developed economies of the world. This paper explain the impact
of GST in indian economy.
Key Words: GST, Indian Economy
Introduction
The GST is basically an indirect tax that brings most of the taxes imposed on
most goods and services, on manufacture, sale and consumption of goods and
services, under a single domain at the national level. In the present system, taxes are
levied separately on goods and services. The GST is a consolidated tax based on a
uniform rate of tax fixed for both goods and services and it is payable at the final
point of consumption. At each stage of sale or purchase in the supply chain, this tax is
collected on value-added goods and services, through a tax credit mechanism.
Conclusion
The introduction of Goods and Services Tax would be a very noteworthy step
in the field of indirect tax reforms in India. By amalgamating a large number of
Central and State taxes into a single tax, it would alleviate cascading or double
taxation in a major way and pave the way for a common national market. From the
consumer point of view, the biggest advantage would be in terms of reduction in the
overall tax burden on goods and services. Introduction of GST would also make
Indian products competitive in the domestic and international markets. This tax,
because of its transparent character, would be easier to administer. However, once
implemented, the system holds great promise in terms of sustaining growth for the
Indian economy.
References
1. http://profit.ndtv.com/news/economy/article-how-gst-will-impact-economy-your-10-
point-cheat-sheet-1439383
2. https://gst.caknowledge.in/impact-of-gst-in-indian-economy/
3. http://www.vccircle.com/byinvitation/2016/07/25/impact-gst-indian-economy
4. http://taxguru.in/goods-and-service-tax/gst-impact-indian-economy.html
5. http://www.mapsofindia.com/my-india/government/gst-one-step-towards-
simplifying-the-muddled-up-tax-system
ABSTRACT
Innovations are necessary to ride the inevitable tide of change. Most of enterprises are striving
to reduce their computing cost through the means of virtualization. Cloud Computing offers
better computing through improved utilization and reduced administration and infrastructure
costs. Cloud Computing is the sum of Software as a Service (SaaS) and Utility Computing. In
this paper I discuss the basically theoretical and explain the cloud computing concept as well
as relay general information about the cloud architecture, deployment and delivery models of
the cloud. I also discuss the Limitations, benefits and drawbacks of the Cloud Computing.
Introduction
Cloud computing is a modern day trend in the computing industry in which
elastic and scalable IT-enabled proficiencies are conveyed as a service to customers
via the internet. It is a computing paradigm, where a large pool of systems is
connected in public or private networks, to provide infrastructures that are
dynamically scalable, for applications, data and file storage systems. With the
emergence of this technology, the computation cost, content storage, application
hosting, and delivery is significantly reduced. Cloud computing is a practical way to
undergo direct cost benefits and it has the potential of transforming an enterprise
data centre from a capital intensive setup to a capital saving environment.
Many companies have invested in Cloud Computing technology by building
their public clouds, which include Amazon, Google and Microsoft. These companies
are often releasing new features and updates of their services. For instance Amazon
Web Services (AWS) released a Security2 and Economics3 center on their website to
have academic and community advice regarding these issues (Khajeh-Hosseini et al.,
2010b, p2).
Objectives
To study the cloud architecture
To study the delivery models of the Cloud Computing.
To study the functions of Cloud Computing
To study the benefits and Problems of cloud Computing
Methodology
This study is based on only Secondary data. Secondary data are collected from
Advanced Books, Journals, Dissertations, thesis and Websites.
Definition
There have been many definitions of Cloud Computing by different
researchers. Barkley RAD defines Cloud Computing as:
―Cloud Computing refers to both the applications delivered as services over
the Internet and the hardware and systems software in the datacenters that provide
those services. The services themselves have long been referred to as Software as a
Service (SaaS). The datacenter hardware and software is what we will call a Cloud.
When a Cloud is made available in a pay-as-you-go manner to the general public, we
call it a Public Cloud; the service being sold is Utility Computing. We use the term
Private Cloud to refer to internal datacenters of a business or other organization, not
made available to the general public. Thus, Cloud Computing is the sum of SaaS and
Utility Computing, but does not include Private Clouds. People can be users or
providers of SaaS, or users or providers of Utility Computing‖.
From a small enterprise‗s point of view, the idea really is that information can
be kept in a cloud or on the Internet and as such it is not compulsory to store
important data on company computers. The beauty of this is that if the computer
fails, the data is not lost because sensitive data would have been replicated and
stored elsewhere prior to systems failure. So, all that is required of the enterprise is
to replace the broken computer systems, get access to the internet and retrieve all the
information stored in the cloud. For example, some applications (like Google Docs),
allow the creation of documents online.
An enterprise can create a report or maybe use a spread sheet, and if the
computer‗s hard disk, or any of their external storage devices breaks, there will be no
cause for alarm because the next time the enterprise‗s system is able to access the
internet, the same document will be available. This is because the document was
stored on applications servers on the cloud. Another great advantage of cloud
computing is that these documents can be shared with other users in the enterprise,
and even more users can be invited to collaborate on it and any one of these users can
edit it in real time. The saved document could be easily published as a web page or
can also be made accessible to the rest of the organization or the wider world via the
internet.
Risk Assessment
Organizations with a need for the highest level of uptime should be skeptical
as they evaluate cloud computing, especially if they already have systems in place
that may be more reliable than cloud computing. One metric to consider in evaluating
a cloud vendor is their downtime history. OC12079 Benefits and risks of cloud
computing If certain functions are mission-critical, cloud computing may not be the
complete solution. For such organizations, a hybrid model may be beneficial. Non-
mission-critical functions could be performed on the cloud. A hybrid model can also
introduce mobile access without applying it universally throughout an organization.
Other organizations have security and regulatory compliance requirements to satisfy.
For example, University of Wisconsin developed guidelines to comply with the Health
Insurance Portability & Accountability Act of 1996 (HIPAA). Specifically, it requires
that certain IT staff – only those with related responsibilities – are able access server
rooms or remove equipment. 5 Cloud computing does not comply with these
guidelines. This is true for health records at University of Wisconsin, but may not
apply to student records.
and upgrade, as explained in [5]. Traditional desktop software costs companies a lot,
in terms of finance. Adding up the licensing fees for multiple users can prove to be
very expensive for the establishment concerned. The cloud, on the other hand, is
available at much cheaper rates and hence, can significantly lower the company‘s IT
expenses. Besides, there are many one-time-payment, pay-as-you-go and other
scalable options available, which makes it very reasonable for the company in
question. Paper [6] adds up that it lowers the cost for smaller firms which intend to
apply the compute-intensive techniques.
Almost Unlimited Storage
Storing information in the cloud gives you almost unlimited storage capacity.
Backup and Recovery
Since all the data is stored in the cloud, backing it up and restoring the same
is relatively much easier than storing the same on a physical device. Furthermore,
most cloud service providers are usually competent enough to handle recovery of
information. Hence, this makes the entire process of backup and recovery much
simpler than other traditional methods of data storage.
Automatic Software Integration
In the cloud, software integration is usually something that occurs
automatically. This means that Cloud users don‘t need to take additional efforts to
customize and integrate their applications as per own preferences. This aspect
usually takes care of itself.
Easy Access to Information
Once the users register in the cloud, they can access the information from
anywhere, where there is an Internet connection. This convenient feature lets users
move beyond time zone and geographic location issues.
Quick Deployment
Lastly and most importantly, Cloud computing gives the advantage of quick
deployment. Once opting for this method of functioning, the entire system can be fully
functional in a matter of a few minutes. Of course, the amount of time taken here will
depend on the exact kind of technology that is needed for the business.
Easier Scale of Services
It makes it easier for enterprises to scale their service according to the
demand of clients.
Deliver New Services
It makes possible new classes of applications and deliveries of new services
that are interactive in nature.
time and from anywhere, there are moments when the system can have some serious
malfunction. Businesses should be aware of the fact that this technology is always
prone to outages and other technical issues. Even the best Cloud service providers
run into this kind of trouble, in spite of keeping up high standards of maintenance.
Security in the Cloud
The other major issue of Cloud is represented by security. Before adopting this
technology, beneficiaries should know that they will be surrendering all their
company‘s sensitive information to a third-party cloud service provider. This could
potentially impose a great risk to the company. Hence, businesses need to make sure
that they choose the most reliable service provider, who will keep their information
totally secure. Switching to the cloud can actually improve security for a small
business, as mentioned by Michael Redding, managing director of Accenture
Technology Labs. "Because large cloud computing companies have more resources, he
says, they are often able to offer levels of security an average small business may not
be able to afford implementing on its own servers" (Outsource IT Headaches to the
Cloud (The Globe and Mail)).
Prone to Attack
Storing information in the cloud could make the companies vulnerable to
external hack attacks and threats; therefore there is always the lurking possibility of
stealth of sensitive data.
Possible Downtime
Cloud computing makes the small business dependent on the reliability of
their Internet connection.
Cost
At first glance, a cloud computing application may appear to be a lot cheaper
than a particular software solution installed and run in-house. Still, the companies
need to ensure that the cloud applications have all the features that the software does
and if not, to identify which are the missing features important to them. A total cost
comparison is also required. While many cloud computer vendors present themselves
as utility-based providers, claiming that they only charge for what customers use,
Gartner says that this isn't true; in most cases, a company must commit to a
predetermined contract independent of actual use. Companies need to look closely at
the pricing plans and details for each application.
Inflexibility
Choosing a Cloud computing vendor oftenly means locking the business into
using their proprietary applications or formats. For instance, it is not possible to
insert a document created in another application into a Google Docs spreadsheet.
Furthermore, a company needs to be able to add and/or subtract Cloud computing
users as necessary as its business grows or contracts.
Lack of Support
Anita Campbell (OPEN Forum) writes, "Customer service for Web apps leaves
a lot to be desired - all too many cloud-based applications make it difficult to get
customer service promptly – or at all. Sending an email and hoping for a response
within 48 hours is not an acceptable way for most of us to run a business".
Conclusion
In this research work, I tackled the affects of Cloud Computing in the
enterprises. Cloud Computing is a very hot topic now days and many enterprises are
interested in it. Most of the enterprises have idea about it but still there is confusion
about the real definition of Cloud Computing. This is understandable as this
technology is in its infant stage however, as it evolved from Grid Computing
therefore, most of the enterprises which have used Grid Computing are better able to
understand the term Cloud Computing. There are many Problems of Cloud
Computing for enterprises. These Problems include Technical Issue, Security,
inflexibility, elasticity and cost. We conclude that while Cloud computing technology
can prove to be a great asset to companies, it could also cause harm if not understood
and used properly. We consider Cloud computing to be an opportunity for small
businesses to balance the efforts implied by IT management of course limited by the
disadvantages of Cloud, some of them presented in this paper. The first and most
important concern is given by security issues related to having their business data in
the Cloud or, in a simpler way, having their data out on the Internet. Nevertheless,
the recommendation would be to begin adopting Cloud Computing for a smaller part
of their business applications in order to be able to count down the benefits and also
to identify the risks.
R. Hemalatha
Assistant Professor, Department of Commerce,
Sri S.R.N.M. College, Sattur
M. Ganapathy
Student, Department of Commerce,
Sri S.R.N.M. College, Sattur
Introduction
The modern age banking customers often transacts through their ‗friendly
device‘ that enables them to conduct with the high penetration of technology in all the
fields, the customers and users have become entices and these people expect
everything to happen at the click of the mouse. In the present scenario, most of the
business organizations are using the internet for a variety of communication tasks,
such as promotion of consumer awareness and interest, providing information and
consultation, facilitating two-way communication with customers through e-mail,
stimulating product trail and enabling customers to place orders. In order to avail the
benefits those are accrued through using Internet, financial institutions like banks
are transforming themselves and conducting their business electronically. This
transformation from normal banking to electronic banking enabled customers to
transact online, while saving on various factors.
E-banking
E-banking may be defined as ―Delivery of banks services to a customer at his
office or home by using electronic technology can be termed as E-banking‖. In the
ever changing global scenario banking business proved to be agile in adopting latest
technology to improve its services and efficiency. Banks have evinced interest in
delivering value added products and services with the help of rapidly evolving
electronic and Tele-communication technologies. Online banks need to be ―real cash
managers‖. They do the job of electronic Bill presentation and payment (EBPP).
For small enterprises and medium scale business it is a real time cash manager its
main function lies in bridging the gap between customer and bank one-to-one
banking. E-banking is a kind of statistic that would take a bank middling brick and
mortar branches to manage the lakhs of accounts at the speed of light. It will operate
through internet, extranet and intranet.
E-Banking Transactions
Internet banking can be performed at various levels. At the lowest level, one
can surf a bank‘s website just to browse through information. It is not necessary to
have a account at the bank. In this capacity, the website serves as an electronic
brochure with details on all the services offered by the bank.
At the next level, one can apply for an account or an service through the
bank‘s website. Log in details like personal identification numbers usernames and
passwords are sent home by courier in tightly sealed envelopes. This may necessitate
a visit to the bank to verify your identity and sign some documents.
Once authentication details are received and are in place, then we can log in from any
computer and check the account details or change the password.
At the third level, the bank can function as a payment facilitator for B2C
e-commerce. This enables customers to pay utility bills online or pay fro goods
purchased from online shops. Now the banks are partnering cellular phone service as
for Mobile banking.
Account enquiry
Fund transfer
Payment of electricity, water, telephone bills etc.
Request for issuance of cheque book, draft etc.
Statement of accounts.
Access to latest Schemes.
Access to rates of interest and other service changes.
Aspects of E-banking
Technology in banking has been used in four major ways
To handle a greatly expanded customer base.
To reduce substantially the real cost of handling payments.
To liberate the banks from the traditional constraints on time and place.
To introduce new products and services.
More and more people are using e-banking products and services and because
a larger section of banks future will be of customer base. The banks must be able to
provide the various e-banking products and services.
Credit Cards
Plastic cards that enable the user to buy goods on credit, paying outstanding
sums on his or her account in monthly installments. Credit card it is a postpaid card.
Bank credit cards are widely used by many customers because of its various tangible
benefits. Credit cards offer a sale, flexible and convenient means for conducting
transactions.
Debit Cards
It is a plastic card connected with electromagnetic Identification that can use
to pay for things purchased directly from his bank account debit card, the card holder
must have adequate balance debit card, and the card holder must have adequate
balance in his account. It is widely accepted by merchants at the point of sale.
Electronic Fund Transfer
It facilitates transfer of funds from any branch or e-bank to any other branch
in shortest time. In this system, the payer and the receiver of the funds may be in
different cities and the banks may also be different. EFTs is initiated through devices
like cards or codes. It uses computer and electronic technology as a sub statute for
checks and other paper transaction.
Automatic Teller Machine (ATM)
ATM is a device that allows customers who have an ATM Card to perform
routine banking transactions without interacting with the human teller. It can be
accessed from anywhere at any time. There is an ATM that can identify customers by
scanning the iris of a person‘s eye. The scanned image is compared with a large
database to verify the match. It designed to protect bank customers from thieves
using stolen ATM cards.
Smart Cards
The smart card also known as chip card contains a computer chip embedded
within the plastic that provides many unique capabilities. Smart cards may be either
memory cards or microprocessor cards.
Generally, memory cards are just pre-paid cards (one used in public telephone
(or) automatic vending machine). They become useless if the card value is exhausted.
Microprocessor cards have more storage capabilities and are dynamic and
re-loadable. They are available with wide variety of features.
Mobile Banking (or) Wireless Application Protocol (WAP)
WAP is a hot technology that is heralding sweeping changes in the fields of
Tele-communication and IT and revolutionizing the world of internet, which will soon
let the user to do the activities through mobile phone.
Mobile banking using the WAP enabled cell phone is the next logical step for
banks to improve customer service. A Customer will be able to use his cell phone, to
download electronic cash from his account on to a smart card, which can be used to
pay for goods etc.,
Electronic Clearing Service
The instruments like cheque, draft and bills require traditional clearing.
The mutual account between banks must be settled as quickly as possible. Thus an
electronic system paves way for an easy and quick clearing who have to make bulk
Traditional Vs E-Banking
In traditional banking, the customer has to visit the branch of the bank in
person to perform the basic banking operations viz., account enquiry, funds transfer,
cash withdrawals etc., the brick and mortar structure of a bank is essential to
perform the banking functions.
On the other hand, E-banking enables the customers to perform the basic
banking transaction by sitting at their office or at homes through PC or LAPTOP.
The customers can access the banks website for viewing their account details and
perform the transaction on account as per their requirements. With E-banking, the
brick and mortar structure of the traditional banking gets converted into a click and
portal model, thereby giving a concept of virtual banking a real shape. Thus today‘s
banking is no longer confined to branches. Customers are being provided with
additional delivery channels which are more convenient and cost effective to
customers and to the banks respectively. These delivery channels of banks include
ATM, Telebanking, Internet banking, Mobile banking etc., thus E-banking facilitates
banking transactions by customers round the clock globally.
Catalysts of E-banking
● Low operating cost
● Government support
● Technology
● Efficiency
● Convenience
● Provides access to the international banks
● Improves customer service
● Better financial management
● Saves time and energy
Challenges of E-banking
Operational risk
Strategic risk
Legal risk
Reputation risk
Banking risk
Heavy investment is required
Misuse of bank accounts is uncontrollable
Security and privacy breach will pave way to spoilage of good relation between
banker and customer
Cost factor
Viruses in internet
Technical problems
Is E-banking Safe?
E-banks know this so they take great precautions to protect our money.
Internet banks have high end encryption and firewalls to protect our account. Recent
achievements through E-banking in India:
The information technology enhances the E-banking facilities in various
dimensions. Some of the recent innovations and achievements in this field are listed
below.
Lack of Standardization
Standardization of operating systems, systems software and application
software throughout the banking industry is a necessary condition which may have to
pursue proven high quality software is a must for high tech banking.
Lack of Legal and Legislative Frame Work
In India, the legal and legislative framework is not conductive to electronic
banking. Legislative support is essential for protecting the interest of the customers
and banks in various areas relating to E-banking and payment systems.
The ground for legislative framework has been cleared by passing of IT Act
2000 by the parliament recently.
Lack of Infrastructure Back Bone
The telecommunication network is in a bad state in our country. Difficulty in
getting connected due to outdated and inadequate lines is severe problem.
Low number of Internet users and high cost of connectivity etc., are problems of
growth of web based banking services.
Conclusion
In the scenario of severe competition and escalating expectation of customers
for newer products, and alterative delivery channels, the dimensions of banking are
being redefined. The key to survival of banks therefore is retention of customer‘s
loyalty by providing them with value added services tailored to their needs, using
state of technology art information technology. It is a choice between survival and
extinction.
References
1. Anand Dr. and Dr.Murugaiah ―Internet Banking in India Emerging Issues and
Challenges‖, the Indian Banker, March 2006, P.95.
2. Arunachalam, L. and Sivasubramaniam, M. (2007) ―The Future of Internet
Banking in India‖.
3. Dr. S. Gurusamy, (2014) ―Banking theory law and practice ―.
4. Morries, (1986) ―Innovation in Banking‖, Vol 18(3), Pp.5-8.
Introduction
Many of us find it increasingly difficult to connect in the modern world, both
with ourselves and others. An important factor in our ability to successfully connect
is emotional intelligence. When it comes to happiness and success in our
relationships, career and personal goals, emotional intelligence (EQ) matters just as
much as the more well known, intellectual ability (IQ). We need emotional
intelligence to turn intention into action, in order to make informed decisions about
the things that matter most to us, and to connect to others in productive and
nurturing ways.
learn how to overcome stress in the moment and in your relationships in order to
remain emotionally aware.
strong relationships which can leave you feeling lonely and isolated.
Your Relationships
By understanding your emotions and how to control them, you're better able to
express how you feel and understand how others are feeling. This allows you to
communicate more effectively and forge stronger relationships, both at work and in
your personal life.
The emotional part of our brain is always on—and even if we ignore its
messages—others won't. Recognizing the kinds of nonverbal messages that we send
to others can be a huge part improving our relationships. See Nonverbal
Communication.
Conclusion
So is there anything new about emotional intelligence? In some ways,
emotional intelligence really is not new. In fact, it is based on a long history of
research and theory in personality and social, as well as I/O, psychology. In fact, one
of his main points was that the abilities associated with emotional intelligence have
been studied by psychologists for many years, and there is an impressive, and
growing, body of research suggesting that these abilities are important for success in
many areas of life.
However, rather than arguing about whether emotional intelligence is new,
I believe it is more useful and interesting to consider how important it is for effective
performance at work. Although I have not had the time to cover very much of it,
I hope I have shown that there now is a considerable body of research suggesting that
a person‘s ability to perceive, identify, and manage emotion provides the basis for the
kinds of social and emotional competencies that are important for success in almost
any job. Furthermore, as the pace of change increases and the world of work makes
ever greater demands on a person‘s cognitive, emotional, and physical resources, this
particular set of abilities will become increasingly important. And that is good news
for I/O psychologists, for they are the ones who are best situated to help clients to use
emotional intelligence to improve both productivity and psychological well-being in
the workplace of tomorrow.
Introduction
History of weaving looms can be traced back to 17th century. The first power
loom was invented by Edmund Cartwright in 1785. Originally Power looms were with
shuttle, and they were very slow. But as the industrial demands for faster production
accelerate, faster looms without shuttle came in use in early part of 20th century.
As developments and innovations take place, various types of looms were developed
for faster production.
Today, Air-jet, Water-jet, Rapier and other computer operated looms are used
to maximize production of special materials. The power loom sector produces more
than 60% of cloth in India and textile ministry‘s estimation says that more than 60%
of the country‘s cloth exports originated from that sector. With its employment of
4.86mn workers, the power looms sector comprised approximately 60% of total textile
industry employment.
Power loom Industry is the major contributor to Indian Textile industry as
62% of the textiles production in India is done on Power looms. Indian Power loom
Industry is equipped with 2.43 million registered looms producing 54,000 square
meter fabrics and accounting for 57.45 lakhs number of direct& indirect employment.
It is concentrated in clusters across Erode, Salem, Madurai, Ichalkarnaji, Sholapur,
Bhiwandi, Bhilwara and Malegaon, among others. The industry produces wide range
of fabrics ranging from grey, printed fabric, dyed fabric, cotton fabric, various mix of
cotton, synthetic, and other fibers.
Objectives
1. To state the History and present stage of the Power loom Industries with special
reference to Tamil Nadu.
2. To analyse the Socio- Economic profile of Power loom Industry of Tamil Nadu.
3. To analyse the problems and issues of Power loom industries.
Ms. S. Sridevi
Assistant Professor, BCOM with Computer Application,
Fatima College, Madurai
ABSTRACT
Social network analysis (SNA) is a strategy for investigating social structures through the use
of network and graph theories. It characterizes networked structures in terms of nodes, ties or
edges (relationships or interactions) that connect them. Methods used are graph database. A
Neo4j database consists of a set of nodes and relations, which both has properties related to
them. Big data is used to describe a massive volume of both structured and unstructured data
that is so large and difficult to process using tradiational database and software techniques.
Hadoop is an open-source framework that allows to store and process big data in a distributed
environment across clusters of computers using simple programming models. The six degrees of
separation theory proposed in 1967 stated that we are all just six degrees of separation apart.
This paper addresses the research problem of identifying the degree of separation from a
different viewpoint by considering not only the degree of separation between two normal-
persons or famous-persons, but also between two persons with very rare-special features. We re-
evaluate by add a new phase are extending the six degrees of separation theory by using a real
social searching Facebook tool „„we R So Close‟‟.
Index Terms: social network analysis, Neo4j, Hadoop, facebook, big data
Introduction
Introduction to social network sites such as Myspace, cyworld, and bebo have
attracted million of users, many of whom have integrated these sites into their daily
practices. A social network is a social structure made up of individuals called nodes,
which are used by one or more specific types of interdependency such as friendship,
common interest, financial exchange, dislike, sexual relationships, relationships of
beliefs, knowledge etc.
Milgram's present an experiment letters that took a longer path were perhaps
more result is usually taken as evidence of the ―small-world hypothesis,‖ that most
pairs of people in a population. It can be connected by only a short chain of
intermediate acquaintances, even when the size of the population is very large.
Milgram's works are conducted in many ways revealing and it does not tell us much
about the detailed structure of social networks, data that are crucial to the
understanding of information or disease propagation. Many other studies have
addressed this problem did the same for communities of Utah Mormans, Native
Americans, and Micronesian islanders, and there are many other examples to be
found in the literature. Surveys or interviews were used to determine friendships.
These networks suffer from a different problem: they may be loosely coupled to
the social networks structure in some ways to reflect features of the society that built
around them, they may be indirectly connected to measure actual contact between
people. Many researchers, of course, are interested to connect these networks through
human acquaintance patterns, power grids and computer networks are a poor proxy
for the real thing. In this project, the system re-evaluate and extend the six degrees of
separation theory by using a real social searching Facebook tool ‗‗We R So Close‘‘.
Identify the duplication of account between two people connected in a social media
sites.
Related Work
Small world phenomenon related to research topics. thus, it provides the two
basic theories in real world: the small-world network and the small-world
experiment.[1] the small world network could be based on structural features such as
clustering coefficient and average node to node distance(also known as average
shortest path length).[2]the small world experiment specifies the minimum number
of people can send a message to anyone in the world.[2]A network model is fitted on
multiple networks, the estimated parameters in multiple networks are combined via
meta analysis.[3] [4] [5] a component analysis in the network shows the overall listed
Indian companies is 78.5% in the affiliation of social sites.SNS diffusion patterns are
analysed in a small-world network multiple influence model to measure the degree of
relationship in a high connection of probability to users. Milgram suggests ―the
network have very short paths between pair of nodes called small world phenomenon.
a network maintain a property called membership dimension that characterize the
relationship between participants and categories in a cognitive load to social
network.[6][7]spatial and temporal aspects of social network are linked with the
visualization techniques of participants .tagging pictures on the social networking
site of facebook could reveal private user attributes are extremely sensitive.[8][9][10]
improving social network access control systems appear in addressing the privacy
and security concerns in online social network. Each of the supply networks is
analyzed in terms of both material flow and a contractual relationship in social
analysis suppliers in network is modeled as a linear chain to detect two people in
network.
acquaintances, even when the size of the population is very large. Milgram's work,
although cleverly conducted and in many ways revealing, does not, however, tell us
much about the detailed structure of social networks, data that are crucial to the
understanding of information or disease propagation.
Existing Work
In existing system, the system proposed a novel graph model. This method is
proposed with a small average shortest path length, and a large clustering coefficient
The general rule is: the higher the click-through rate, the higher the ranking.
A search result may also be marked based on its click history. In one embodiment, a
search result is marked with an image or a text string if there was a single click on
the search result by a friend of the member who submitted the query. In other
embodiments, the frequency of clicks by members of social network who are within a
predetermined degree of separation from the member who submitted the query is
examined. If such frequency exceeds a minimum value, the associated search result is
marked with an image or a text string.
Proposed Work
In proposed system, the system re-evaluates and extend the six degrees of
separation theory by using a real social searching Facebook tool ‗‗We R So Close‘‘.
It works in facebook platform. The graph database is used to store the collected data.
For this process the system considering the two points: considering the fake accounts;
finding someone with special rare features. And also it extends the theory from
different viewpoints.
Advantages in SNA
● It can re-verify, extend, and generalize the small world theory.
● It can compute a huge amount of social data.
● It is not limited to the tracing of linear chains.
● It is possible in reality to re-evaluate the six degrees of separation theory.
Conclusion
A social network is a collection of people, each of whom is acquainted with
some subset of the others. Such a network can be represented as a set of points
(or vertices) programming. A friend of your friend probably knows a friend of others
friend; Facebook shrunk the gap between us. It re-evaluated the degree of separation
theory using data collected by an online Facebook tool. Identifying the degree of
separation from a different viewpoint by considering not only the degree of separation
between two normal-persons or famous-persons, but also between two persons with
very rare-special features, and observing the influence of the high-degrees node
denoting people, joined in pairs by lines (or edges) denoting acquaintance. One could,
in principle, construct the social network for a company or firm, for a school or
university, or for any other community up to and including the entire world.
Future Work
The nodes in the network are the people and groups while the links show
relationships or flows between the nodes. It are emerging to build a secure
communication for cipher text process and user chatting process. user can send their
text message and image through the sender identification key that is private key
model. User can accept the communication through the acceptance of friend request
and sharing of information in friend‘s list. Once sender accepts the request, the user
can send a separate key for the sender. The sender may decode the text message and
image in a decrypted format.
References
1. Eman Yasser Daraghmi, Shyan-Ming Yuan‖ We are so close, less than
4 degrees separating you and me‖, Computers in Human Behavior 30 (2014) 273–
285.
2. Weihua An‖VMultilevel meta network analysis with application to studying
network dynamics of network interventions‖ Social Networks 43 (2015) 48–56.
3. C. Prem Sankara, K. Asokanb, K. Satheesh Kumar‖ Exploratory social network
analysis of affiliation networks of Indianlisted companies‖ Social Networks 43
(2015) 113–120.
4. Wenjun Jiang, Guojun Wanga, Jie Wub‖ Generating trusted graphs for trust
evaluation in online social networks‖ Future Generation Computer Systems 31
(2014) 48–58.
5. David Eppstein, Michael T. Goodrich, Maarten Löffler, Darren Strash, Lowell
Trott ―Category-based routing in social networks: Membership dimension and the
small-world phenomenon‖ Theoretical Computer Science 514 (2013) 96–104.
6. Aidan Slingsby, Roger Beecham, Jo Wood‖ Visual analysis of social networks in
space and time using smartphone logs‖ Pervasive and Mobile Computing 9 (2013)
848–864.
7. João Paulo Pesce‖ Privacy Attacks in Social Media Using Photo Tagging
Networks: A Case Study with Facebook‖ 2012 ACM 978-1-4503-1236-3/12/04.
8. Barbara Carminati, Elena Ferrari, and Andrea Perego‖ Rule-Based Access
Control for Social Networks‖ OTM Workshops 2011, LNCS 4278, pp. 1734–1744,
2011.
9. Juliana Sutanto, Chuan-Hoo Tan, Boris Battistini and Chee Wei Phang‖
Emergent Leadership in VirtualCollaboration Settings: A SocialNetwork Analysis
Approach‖ Long Range Planning 44 (2011) 421e439.
10. Yusoon Kima, Thomas Y. Choib, Tingting Yanb, Kevin Dooley‖ Structural
investigation of supply networks: A social network analysis approach‖ Journal of
Operations Management 29 (2011) 194–211.
Mrs. M. Alagumareeswari
Assistant Professor, Department of Commerce (CA),
V.V.Vanniaperumal College for Women, Virudhunagar
Introduction
Central Government‘s strive for digital India has taken a fast pace after
demonetization announced on 8th November, 2016. ‗Less-cash‘ or ‗Cashless‘ has
emerged as the new buzzword in the Indian economy. Due to less cash available in
the banking system everyone is searching for cashless mode of payments.
Online payments, debit and credit cards payments are only the available options for
cashless transaction. Cashless payments are characterized by the exchange of funds
by cheque, debit / credit card, or electronic methods rather than the use of cash.
Objectives
The objectives of the study are:
To study about Cashless payments.
To discuss about advantages, methods and problems of cashless payments.
To give suggestions for improvement of cashless payments on basis of findings
of the study.
Methodology
The study has been carried out on the basis of primary and secondary data.
Primary data has been collected from 150 respondents in Virudhunagar by using
convenience sampling. Secondary data has been collected from various books,
newspapers and websites. The collected data are arranged and analysed with the
help of statistical tools such as percentage analysis, weighted ranking method. On the
basis of the analysis, the suggestions are presented.
Advantages
The following advantages enjoyed by using cashless payments are
convenience, 24X7, offers and Discounts, tracking spends, budget discipline, lower
risk and small gains.
Demand Draft
Online Transfer- NEFT or RTGS
Credit Card or Debit Card
E-Wallets
E-wallet can be used to purchase products starting from grocery to airline
tickets. To use this customer and merchant require a Smartphone with active
internet connection. After registering for E-wallet the person need to link credit card
or debit card with E-wallet id. He can use e-wallet for fund transfer or online
shopping.
Mobile Wallets
There is no need for debit card / credit card or internet banking password for
making payment using a mobile wallet. Just load money in mobile wallet via
Immediate Payment System (IMPS) and use it on the move.
UPI Apps
Unified Payment Interface (UPI) allows sending or receiving money using
virtual payment address without entering bank information. Merchants can enrol
with banks to accept payments using UPI.
Gift Card
Gift Card is a readymade card and can be purchased from a merchant or from
the bank. The gift card is loaded with a fixed amount. The person can purchase any
item from the specific vendor by using a gift card.
Aadhaar Enabled Payment System
Aadhaar Enabled Payment System (AEPS) is like Micro ATM uses smart
phone and a finger-print scanner for the transaction. In order to use this facility, it is
mandatory to link Aadhaar card to the bank account.
Unstructured Supplementary Service Data
The person can use Unstructured Supplementary Service Data (USSD) even
without a Smartphone or internet connection. From any mobile phone, he can dial
*99# and use this service.
Problems
There are many problems are faced by the people while doing cashless
payments. The main problems are high cost, lack of Security, loss of human touch,
non-tech-savvy, internet connection, charges on cards and taxes, lack of swipe
machine /Smart phone, infrastructure/phone battery.
Results and Discussion
The socio economic variables of the respondents like gender, age, marital
status, educational qualification, occupation are studied and tabulated in Table 1.
Table 1 Socio-economic Variables
Socio-economic Variables Number of Respondents Percentage
Male 90 60
Gender
Female 60 40
Less than 20 20 13.3
20 – 30 40 30
Age
30 – 40 30 23.3
(in years)
40 – 50 40 26.7
More than 50 10 6.7
Married 45 30
Marital Status
Unmarried 105 70
SSLC/ HSC 25 16.6
Diploma holders 15 10
Educational Qualification Undergraduate 45 30
Postgraduate 50 33.4
Profession 15 10
Government employee 35 23.3
Private Employee 60 40
Occupation
Businessmen 45 30
Retired Person 10 6.7
Source: Primary data
From Table 1 it is noted that, majority (60%) of the respondents are male
gender. Nearly 30 per cent of the respondents are from the age group of 20 – 30 years.
70 per cent of the respondents are unmarried. Cashless payments are mostly (33.4%)
used by the people who completed their postgraduate degree. Cashless payments
used by private employees are comparatively high (40%) than others.
Table 2 Awareness about Cashless Payments
Awareness Number of Respondents Percentage
TV 40 22.2
Newspaper 35 19.5
Radio 15 8.4
Friends/Relatives 50 27.7
Internet 40 22.2
Total 180 100
Source: Primary data
Table 2 exhibits that, 27.7 per cent respondents were get awareness about
cashless payments from their friends and relatives.
Table 3 Spending Limit
Spending Limit (per month) Number of Respondents Percentage
Less than 10,000 25 16.7
10,000 -20,000 50 33.3
20,000-30,000 25 16.7
30,000-40,000 30 20
Above 40,000 20 13.3
Total 150 100
Source: Primary data
Table 3 shows that, 33.3 per cent of the respondents has spend Rs.10,000 –
Rs.20,000 per month.
Table 4 Purposes using Cashless Payments
Purposes Number of Respondents Percentage
Grocery 30 12
Clothing 50 20
Cosmetics 12 4.8
Jewels 18 7.2
Stationery items 16 6.5
Luxury items 50 20
Utility services 74 29.5
Total 250 100
Source: Primary data
From Table 4, it is noted that 29.5 per cent of the respondents were used the
cashless payments for the purpose of paying utility services.
Table 5 Type of Cashless Payment Used
Type of cashless payment Number of Respondents Percentage
ATM 10 3.8
DD 62 23.8
Online transfer 55 21.3
Credit card/debit card 105 40.3
E-Wallet --- ---
Mobile Wallet 28 10.8
Gift card --- ---
UPI app --- ---
USSD --- ---
AEPS --- ---
Total 260 100
Source: Primary data
Table 5 depicts that, 40.3 per cent of the respondents used the Credit
card/debit card for cashless payments. No respondents were used the E-Wallet, Gift
card, UPI app, USSD and AEPS.
The weighted ranking technique has been used to analyse the problems of
cashless payments. The respondents are asked to rank the problems. The result of
the weighted ranking according to the respondents ―High cost‖ problem gets first
rank and followed by the problems Non-tech-savvy , Lack of swipe machine /
Smartphone and Lack of security second, third and fourth rank respectively. The last
rank (VIII) was secured by loss of human touch.
Suggestions
The following suggestions have been made on the basis of findings of the
study.
Cashless payments are mostly used by male members. Awareness must be
created to the female members about cashless payments.
Demonstration classes about cashless payments can be arranged in colleges,
public sectors and private sectors offices.
Cashless payments are included as a part of their curriculum in the higher
secondary level itself.
Government can educate the citizens about E-Wallet, Gift card, UPI app,
USSD and AEPS.
Security measures should be improved by using Bio metric passwords.
Conclusion
According to our Prime Minister Mr. Narendra Modi, the reasons behind
demonetisation is to tackle black money in the economy, to lower the cash circulation
which "is directly related to corruption in our country‖ and to eliminate fake currency
and illegal funds which have been used by terror groups to fund terrorism in India.
These can be achieved only through cashless transactions. As a citizen of India,
everyone take necessary steps to change their cash transactions into cashless
transactions which make our country as “Digital India”.
References
1. Rama, A and Arunadevi, A, Banking technology, Chennai: New Century Book
House Pvt., Ltd., 3rd Edition, 2012.
2. http://moneyexcel.com/15775/10-best-cashless-payment-methods
3. https://www.how-to-calculate.com/blog/cashless-payments/10-secure-cashless-
payment-methods-cashless-transaction-india/
4. http://classroom.synonym.com/disadvantages-electronic-banking-24007.html
5. http://economictimes.indiatimes.com/news/economy/policy/what-is-
demonetisation-and-why-was-it-done/articleshow/55326862.cms
E – BANKING: OVERVIEW
Dr. P. Prabha
Assistant Professor, Dept. of B.B.A., Yadava College, Madurai
Introduction
Over the past two decades, India has pushed hard to become a less–cash
society. In the early 1990s, the Reserve Bank of India spearheaded the development
of technological by the way of infrastructure that facilitated the creation of a payment
and settlement ecosystem. In 2007, the Indian Parliament passed the Payment and
Settlement Systems Act, after which the central bank released a series of vision
documents for the periods of 2009–12, 2012–15, and 2015–18. These papers were
supplemented by initiatives to promote wider acceptance and deeper penetration of
electronic payments in India. The Government of India has encouraged the shift to a
less–cash society with its push for digital payments. It is to promote mobile and
digital banking to spur financial inclusion at scale. To achieve this vision,
governments are undertaking various measures to transition to a less-cash society. In
the form of E-Commerce, E-Business, E-Banking.
Most large bank now offers highly secure, sophisticated online banking. It is
used to access account and make transaction whenever you like and wherever you
are. Banks also enables customers lifestyle needs by changing and increasing
preference for speed and convenience are erading the traditionally difficulty between
customer and bank. E – Banking has become necessary survival weapon and its
changing the banking industry worldwide. It‘s redefining business relationship and
the successful banks truly strengthen their relationship with their customers.
E- Banking
A method of banking in which the customer conducts transactions
electronically via the Internet. The following terms also refer to another of electronic
banking: personal computer banking, internet banking, virtual banking, online
banking, home banking is the most frequently used in common.
E-banking is defined as the automated delivery of new and traditional
banking product and services directly to the customers through electronic, interactive
communication channels. It also includes the system that enable financial
institutions, customers, individuals or businesses to access account, transact business
and the like.
Internet – Banking
The internet is the delivery channel to conduct banking activity for
transferring funds, paying bills, viewing checking and savings accounts balance,
Services Offered
ATM Services
Debit/Credit card Services
Internet Banking
Mobile/Tele Banking
Electronic Fund Transfer
Features
Online banking facilities have many features and capabilities in coon but also
have some application. The common features are
1. A bank customer can perform non-transactional task through online banking like
● Viewing account balances
● Viewing recent transactions
● Downloading bank statement
● Viewing images of paid cheques
● Ordering cheques books
● Download periodic account statement etc
2. Bank customers can transact banking tasks through online banking like
● Funds transfer between the customers linked accounts
● Paying third parties like bill payment and fund transfer
● Investment purchase or sale
● Loan application and transaction, Credit card application etc
Regulatory Tools
There are four regulators tools need to focus the new challenges posed by the
arrival of e-banking.
Adaptation - Rapidly changes n technology the changes mean for banking
activities, keeping regulations up to date has been and continues to be, a far
reaching, time consuming and complex task.
Legalization - New method for conducting transactions, new instruments
and new services providers will require legal definition, recognition and permission.
Harmonization - International harmonization of electronic banking
regulation must be a top priority, the cross-border cooperation between supervisor
and coordinating laws and regulatory practices internationally and domestically
across different regulatory agencies.
Integration - Process of including information technology issues and their
accompanying operational risks in bank supervisor‘s safety and soundness
evaluations.
Opportunities
Internet Banking: It‘s clear that online finance pickup and there will be
increasing convergence in terms of product offering banking services, share trading,
insurance ,loans, data warehousing and data mining technologies.
Retail Lending: It‘s a focus area particularly in respect of financing of
consumer durables, housing, automobiles etc and also enhancing the earnings of
banks with better recovery rates.
Rural Area Customers: Contributing nearly 70 percent of the total
population in India is largely untapped market for banking sector.
Offering Various Channels: Bank also offer many channels to access their
banking services like ATM, Telephone/Mobile Banking etc to increase the banking
business.
Good Customer Services: The best brand ambassador for any bank is the
customer; every engagement with customer is an opportunity to develop customer
faith in the bank. Increasing competition customer services is the backbone for
judging the performance of bank.
Indian Customer: The Indian customers now seek to fulfil his lifestyle
aspirations to a younger age with an optimal combination of equity and debt to
finance consumption and asset creation.
Other Opportunities: The other opportunities are to enter new business and
new markets, to develop new ways of working, to improve efficiency, to delivery high
level of customer services.
Advantages
There are some advantages on using e-banking for both the banks and
customers:
Permanent access to the bank
Lower transaction costs/general
Access anywhere
Less time consuming
Very safe and secure method
Helps to transfer the money immediately and accurately
Security of account
Limitations
There are also some disadvantages on using e-banking are
―Hackers‖ can access our bank account.
Need original set up for paying time ,its time consuming but ultimately its
timer saver
Switching banks can be cumbersome
On must have basic computer and internet knowledge
Macro Economic Challenges
Illiteracy: The use of mobile phones customer requires awareness about
processes, rules and regulations. Many of them do not understand them and in
difficult to operate.
Technology: When it comes to use of mobile most of them buy mobile within
their budget but there is severe constraints on the part of service providers.
Penetration: Unlike Mobile Telephony Banking has not been able to make
inroads into the rural heartland of India.
Security: Lack of availability of a Reliable Network and information leak due
to easy accessibility are the two major factor to face challenges.
Investment in infrastructure: Computerisation of a bank attracts huge
cost. Purchases of hardware and software Investment is not problem to established
large bank.
Training the employees: The private sector bank found easier to recruit the
young computer employees but in large public sector banks lagged hugely.
Conclusion
Internet banking is a convenient way to do banking from the comfort of our
home or office. Avoid the queue or delays and try our simple and secure internet
banking facility for an unmatched online banking experience. To understand the
impact of e-banking on the conduct of economic policy, policymakers need a solid
analytical foundation. Considering the challenges and risk related to e-banking, the
government of India along with various government agencies is making an effort to
make e-banking more safe, secure and reliable. Without any doubt the international
scope of E – Banking provides new growth perspectives and internet business is a
catalyst for new technologies and new business processes.
References
1. Prof. Manoj B. Makawana ―Emerging Trends in India Banking Sector‖,
Pragati College, Dombivli.
2. Dr. Vipin Choudhary ―Internet Banking: Challenge and Opportunities in
Indian context‖ PIMR, Indore.
3. Karanjit Kaur, Rajneesh, ―Electronic Banking in India: Innovations,
Challenges and Opportunities‖.
4. Majon ―E-Banking: Benefits and Challenges‖ Jasan University, Jizan. K.S.A.
5. www.Journalofcomputing.org
Ms. Fanny
Assistant Professor, Dept. of Commerce with Computer Applications,
Fatima College, Madurai
Ms. Sally
Assistant Professor, Dept. of Commerce,
C.S.I. College of Arts and Science for Women, Madurai
ABSTRACT
Green marketing is the marketing of products that are presumed to be environmentally safe. It
incorporates a broad range of activities, including product modification, changes to the
production process, packaging changes, as well as modifying advertising. As society becomes
more concerned with the natural environment, businesses have begun to modify their behaviour
in an attempt to address society's "new" concerns. Some businesses have been quick to accept
concepts like environmental management systems and waste minimization, and have
integrated environmental issues into all organizational activities.Both marketers and
consumers are becoming increasingly sensitive to the need for switch in to green products and
services. While the shift to "green" may appear to be expensive in the short term, it will
definitely prove to be indispensable and advantageous, cost-wise too, in the long run. This
paper attempts to give the reader a clear insight about green marketing and to create an
awareness on the need for green marketing practices.
Definition
According to the American Marketing Association, green marketing is the
marketing of products that are presumed to be environmentally safe. Thus green
marketing incorporates a broad range of activities, including product modification,
changes to the production process, packaging changes, as well as modifying
advertising.
Other similar terms used are Environmental Marketing and Ecological
Marketing. Thus "Green Marketing" refers to holistic marketing concept wherein the
production, marketing consumption an disposal of products and services happen in a
manner that is less detrimental to the environment with growing awareness about
the implications of global warming, non-biodegradable solid waste, harmful impact of
pollutants etc., both marketers and consumers are becoming increasingly sensitive to
the need for switch in to green products and services. While the shift to "green" may
appear to be expensive in the short term, it will definitely prove to be indispensable
and advantageous, cost-wise too, in the long run.
technology and green products is necessary for conservation of natural resources and
sustainable development. We can define green products by following measures:
Products those are originally grown,
Products those are recyclable, reusable and biodegradable,
Products with natural ingredients,
Products containing recycled contents, non-toxic chemical,
Products contents under approved chemical,
Products that do not harm or pollute the environment,
Products that will not be tested on animals,
Products that have eco-friendly packaging i.e. reusable, refillable containers
etc.
Price: Prices for such products may be a little higher than conventional
alternatives. But target groups like for example LOHAS are willing to pay extra for
green products.
Place: A distribution logistics is of crucial importance; main focus is on
ecological packaging. Marketing local and seasonal products e.g. vegetables from
regional farms is more easy to be marketed ―green‖ than products imported.
Promotion: A communication with the market should put stress on
environmental aspects, for example that the company possesses a CP certificate or is
ISO 14000 certified. This may be publicized to improve a firm‘s image. Furthermore,
the fact that a company spends expenditures on environmental protection should be
advertised. Third, sponsoring the natural environment is also very important. And
last but not least, ecological products will probably require special sales promotions.
Additional social marketing "P's" that are used in this process are:
Publics: Effective Social Marketing knows its audience, and can appeal to
multiple groups of people. "Public" is the external and internal groups involved in the
program. External publics include the target audience, secondary audiences,
policymakers, and gatekeepers, while the internal publics are those who are involved
in some way with either approval or implementation of the program.
Partnership: Most social change issues, including "green" initiatives, are too
complex for one person or group to handle. Associating with other groups and
initiatives to team up strengthens the chance of efficacy.
Policy: Social marketing programs can do well in motivating individual
behavior change, but that is difficult to sustain unless the environment they're in
supports that change for the long run. Often, policy change is needed, and media
advocacy programs can be an effective complement to a social marketing program.
Purse Strings: How much will this strategic effort cost? Who is funding the
effort?
Patience and Perseverance: The investors and corporate need to view the
environment as a major long-term investment opportunity, the marketers need to
look at the long-term benefits from this new green movement. It will require a lot of
patience and no immediate results. Since it is a new concept and idea, it will have its
own acceptance period.
Avoiding Green Myopia: The first rule of green marketing is focusing on customer
benefits i.e. the primary reason why consumers buy certain products in the first
place. Do this right, and motivate consumers to switch brands or even pay a premium
for the greener alternative. It is not going to help if a product is developed which is
absolutely green in various aspects but does not pass the customer satisfaction
criteria. This will leadto green myopia. Also if the green products are priced very high
then again it will lose its market acceptability.
Examples of Green Marketing in India
1. Digital Tickets by Indian Railways. : Recently IRCTC has allowed its customers to
carry PNR no. of their E-Tickets on their laptop and mobiles. Customers do not
need to carry the printed version of their ticket anymore.
2. No Polythene carry bags :- Government of India has ordered retail outlets not to
provide polythene bags to their customers. This is a very good move to control
pollution.
3. Green IT Project: State Bank of India:- By using eco and power friendly
equipment in its 10,000 new ATMs, the banking giant has not only saved power
costs and earned carbon credits, but also set the right example for others to follow.
SBI is providing many services like; paper less banking, no deposit slip, no
withdrawal form, no checks,no money transactions form all these transaction are
done through SBI shopping & ATM cards. The wind project is the first step in the
State Bank of India's green banking program dedicated to the reduction of its
carbon footprint and promotion of energy efficient processes, especially among the
bank's clients.
4. Lead Free Paints from Kansai Nerolac:- Kansai Nerolac has worked on removing
hazardous heavy metals from their paints. The hazardous heavy metals like lead,
mercury, chromium, arsenic and antimony can have adverse effects on humans.
Lead in paints especially poses danger to human health where it can cause
damage to Central Nervous System, kidney and reproductive system.
5. Wipro's Green Machines:-Wipro Infotech was India's first company to launch
environment friendly computer peripherals. For the Indian market, Wipro has
launched a new range of desktops and laptops called Wipro Greenware. These
products are RoHS (Restriction of Hazardous Substances) compliant thus
reducing e-waste in the environment.
Conclusion
A Clever marketer is one who not only convinces the customer, but also
involves the consumer in marketing his product. Similarly, Green marketers should
be prudent in introducing the concept. It should not be considered as just one more
approach to marketing, but has to be pursued with much greater vigour, as it has an
environmental and social dimension to it which is going to rule the world in coming
times. Though it may seem to be a waste of time and effort, it will prove to become a
step to cleaner and healthier environment building.
J. Kalaivani
Assistant Professor,
Senthamarai College of Arts and Science, Madurai
ABSTRACT
In the modern era of globalization, it has become a challenge to keep the customers as well as
consumers in fold and even keep our natural environment safe and that is the biggest need of
the time. Environmental pollution is a buzz word in today‟s business environment. Consumers
are also aware of the environmental issues like; global warming and the impact of
environmental pollution. Green marketing is a phenomenon which has developed particular
important in the modern market and has emerged as an important concept in India as in other
parts of the developing and developed world, and is seen as an important strategy of
facilitating sustainable development. This paper has been made up of concept, need and
importance of green marketing. The Paper aims at finding out what actually Green Marketing
is all about and how can a business firm be more competitive by using green marketing
strategies to gain a competitive edge over others. It explores the main issues in adoption of
green marketing practices. The paper describes the current Scenario of Indian market and
explores the challenges and opportunities businesses have with green marketing. Why
companies are adopting it and future of green marketing and concludes that green marketing
is something that will continuously grow in both practice and demand.
Introduction
“India being a developing country and with 80% of infrastructural
facilities anticipated to be built in the next two decades, it is a great
opportunity to build India in a green way”.
- S Raghupathy, Indian Green Building Council
Green marketing is the process of developing products and services and
promoting them to satisfy the customers who prefer products of good quality,
performance and convenience at affordable cost, which at the same time do not have a
detrimental impact on the environment. It includes a broad range of activities like
product modification, changing the production process, modified advertising, change
in packaging, etc., aimed at reducing the detrimental impact of products and their
consumption and disposal on the environment. Companies all over the world are
striving to reduce the impact of products and services on the climate and other
environmental parameters. Marketers are taking the cue and are going green.
The term of green energy is defined by Wenxin (2010) that energy generated
from natural and renewable resources such as sunlight, wind, biomass, tides and
geothermal heat, is called ―renewable energy‖. The renewable energy market is still
growing and governments are making policies for this sector and companies are
putting more efforts to commercialize these resources due to the rapid changing in
climate, high oil prices and pollution.
Green Advertising
A specific type of advertising that is centered on the promotion of factors
having to do with the environment. Oftentimes the companies that use green
advertising also use very environmentally friendly operations and product packaging
as well.
Some Cases
Interestingly, green marketing continues to be an issue of 5 global interests.
In fact, Google Trends reports that, on a relative basis, more searches for ―green
marketing‖ originated from India than from any other country.
Country Rank
India 1
UK 2
US 3
Thailand 4
Australia 5
Canada 6
China 7
Many companies are adopting green for capturing market opportunity of green
marketing some cases
Green Products
Green shopping bags: reusable bags made often made from recycled
materials
Cleaning Products: made from natural ingredients rather than
hydrocarbons.
Green upholstery products: using sustainable and renewable materials,
also may be made from renewable energy sources
Porous Concrete: also called pervious concrete pavement, has openings
which let water go through it, improving drainage and many other good
environmental advantages.
LED and CFL Lighting: this expanding high-tech lighting lasts 5-10 times
longer than incandescent bulbs and use only 10-25% as much electricity, for the same
amount of lumens (brightness). One bulb can often save over $100 or electricity
during its lifetime.
Green toilets/toilet seats: very popular in Japan, features may include: 1)
low water usage power flush, 2) toilet fan to remove odors (without needing more
energy consuming room fan), 3) water jets and dryers for cleansing, similar to a bidet.
In-sink water filters: Make your own purified water and use re-usable
bottles rather than continuing to buy water in throw-away bottles.
Conclusion
As green marketing is becoming more and more important, the government
should impose rules and regulations regarding the usage of green products and
incorporate the importance of protecting the environment in the school curriculums
apart from continuous green marketing campaigns and implementation. Marketers
should also use the media wisely to further educate the consumers about the
importance of green marketing and the usage of green products. Consumer
organizations and associations should also be more bold to boycotts any businesses
that marketed products that are harmful to the environment and its surrounding.
Last but not least, implement green marketing today for a better tomorrow
Dr.K.Gnanaguru
Assistant professor, Department of Economics, Surashtra College, Madura
ABSTRACT
Human have different personalities, different wants, needs, and different ways of showing our
emotions. Navigating through this all takes tact and cleverness- especially if we hope to succeed
in life. This is where emotional intelligence becomes important. This paper express that
emotions play a central role in the leadership process. Emotional intelligence is the ability to
understand -and manage moods and emotions in the self and others. It contributes to effective
leadership in organizations. I propose how emotional intelligence contributes to effective
leadership by focusing on eight essential elements of leader effectiveness: development of
collective goals and objectives: instilling in others an appreciation of the importance of work
activities; generating and maintaining enthusiasm confidence, optimism, cooperation, and
trust: encouraging flexibility in decision making and change: and establishing and
maintaining a meaningful identity for an organization.
Introduction:
Emotional intelligence is widely known to be a key components of effective
leadership. Over the last decade there has been a huge increase in evidence that
emotional intelligence is an important factor in leadership. Numerous studies have
shown a positive relationship between emotionally intelligent leadership and
employee satisfaction, retention, and performance.
―No one cares how much you know, until they know how much you care."
-Theodore Roosevelt
The ability to be perceptively in tune with his emotions as well as having soud
situational awareness can be a powerful tool for leading a team. The act of knowing,
understanding and responding to emotions, overcoming stress in the moment and
being aware of how words and actions affect others is described as emotional
intelligence.
Emotional intelligence for leadership can consists of these eight attributes.
Here are 9 attributes that are crucial for emotionally intelligent leadership.
1. Self-Awareness
The basis of any degree of emotional intelligence is awareness of our emotions,
what causes them and how we react to them. Leaders who are more aware are able to
develop skills that will help them to manage their own emotions, allowing them to
respond more effectively to situations that come up . Instead of reacting to their
emotions, they are able to engage their thinking capacity to come up with better
decisions. Leaders who react from their emotions without filtering them can severely
damage relationships and increase mistrust amongst their staff.
2. Awareness of Others
The more self-awareness that leaders have, the higher will be their awareness
of the emotions of others around them. Having an awareness of emotions, how they
are created, and how they influence people will allow them to not take emotions of
others, such as anger, personally. Less likely to jump to conclusions or judgment, they
are more likely to get to the root of the issue and the cause of strong emotional
reactions of others.
3. Listening Skills
Most people fall into the habit of thinking of a response, while others are
speaking instead of actively listening. Emotionally strong leaders avoid that trap,
realizing that they need to understand not only the content of what others are saying,
but also pick up the feelings behind the words that are being spoken.
The emotions behind the words are often more important than the words
spoken. It is only when those emotions are acknowledged that people feel that they
are being heard. Often complaints are about situations that leaders can do little to
change. People are often aware of that, but still have the need to feel heard.
Emotionally intelligent leaders hear their staff and by doing so are able to connect
with them on a deeper level.
6. Self-Regulation
This is the ability to control emotions and impulses. People who self-regulate
typically don't allow themselves to become too angry or jealous, and they don't make
impulsive, careless decisions. They think before they act. Characteristics of self-
regulation are thoughtfulness, comfort with change Integrity, and the ability to say
no.
7. Motivation
People with a high degree of El are usually motivated :;:. They're willing to
defer immediate results for long-term success. They're highly productive, love a
challenge, and are very effective in whatever they do.
8. Empathy
This is also the second-most important element of EI Empathy is the ability to
identity with and understand the wants, needs, and viewpoints of those around you.
People with empathy are good at recognizing the feelings of others, even when those
feelings may not be obvious. As a result, empathetic people are usually excellent at
managing relationships, listening , and relating to others. They avoid stereotyping
and judging too quickly, and they live their lives in a very open, honest way.
9. Social Skills
It's usually easy to talk to and like people with good social skills, another sign
of high EI. Those with strong social skills are typically team players. Rather than
focus on their own success first, they help others develop and shine. They can manage
disputes, are excellent communicators, and are masters at building and maintaining
relationship.
act as a role model too, supporting his statements, ideologies and values with
appropriate actions.
A leader one to be aware of one's own capabilities and weaknesses, it is
difficult to accept guidance from a leader who is not self aware
Emotionally intelligent leaders are able to anticipate how their people are
likely to react to situations and don't wait until after the damage is done to respond.
If they are aware that bad news is coming, such as anticipated layoffs, business
closures, and other events, they do what they can to openly to respond to them before
they happen.
Realizing that rumors can quickly spread and cause more damage than the
actual event, they rely upon their emotional and social skills to help staff through
these times.
Conclusion
Emotional intelligence is a powerful tool critical for exceeding goals improving
critical work relationships and creating a healthy, productive workplace and
organisational culture. A leader needs to brush up on his people skills emotional
intelligence , as all them are not born with the charisma to hold people. Emotional
intelligence with practice and carefully directed efforts can be increased.
IMPACT OF GST
S. Sumathy
Assistant Professor,
Amman College of Arts and Science, Dindigul
ABSTRACT
India is all set to introduce GST or Goods and services tax after crossing the various hurdles in
its way. It is introduced at a nominal rate that proves beneficial not only for the common man
but for the country as a whole. A single form of tax is known as GST and also the biggest
indirect tax reform providing a uniform and simplified way of Indirect taxation in India.
Goods and services will be subject to a uniform tax rate. It will be applied throughout the
country, replacing a number of other indirect taxes like VAT, Service tax, CST, CAD etc. Soa
bundle of indirect taxes will get replaced by a new tax in India known as GST. The common
man being the final consumer of goods shall be directly affected after introduction of GST.
Key Words: indirect tax, GST,
Introduction
There are around 160 countries that have implemented GST/VAT. France was
the first country to introduced GST. Goods and Services tax is a long term strategy
planned by the Government .This can happen if GST is introduced at a nominal rate
to reduce the overall tax burden of the final consumers. India implements the GST
which was followed by Canada. The rate of GST normally ranges in between 15–20% .
India is all set to introduce GST or Goods and services tax after crossing the
various hurdles in its way. It is introduced at a nominal rate that proves beneficial
not only for the common man but for the country as a whole. A single form of tax is
known as GST and also the biggest indirect tax reform providing a uniform and
simplified way of indirect taxation in India. Goods and services will be subject to a
uniform tax rate. It will be applied throughout the country, replacing a number of
other indirect taxes like VAT, Service tax, CST, CAD etc.
On 3rd November, 2016 a four tier GST rate structure has been passed, the
final slab rates being agreed upon are 5%, 12%, 18% and 28%.
Definition
The GST is a single indirect tax rate that will be imposed on manufactured
products and services for all states. This tax will apply on the value added by a
producer or service provider at each stage in the manufacturing process right until
the final consumption.
Impact of GST
Growth and inflation are two key factors to consider on a change in tax laws.
On both these factors, the actual quantifiable benefit on economic growth and
inflation of GST is hard to judge at this point. A markedly higher rate can hurt
growth, a very low rate can upset the government and state fiscal. Secondly, the
sharing between states and center is also unclear. Once the system is in place, the
actual GST benefits will show up only over the long term, and not in the next year or
two. Some sectors will see a heavier impact from the GST than others. Because GST
is a complete overhaul of the taxation system, it will have a pervasive effect. Here is
how GST can change overall company prospects.
Saving in logistics cost and time: Many transport vehicles get delayed
during movement across States due to small border tax and check post issues. GST
can reduce logistics costs of companies producing non-bulk goods (comprising all
goods besides the primary bulk commodities transported by railways – coal, iron ore,
cement, steel, food grains, and fertilizers) by as much as 20 percent.
Impact on Consumers
In the GST system, taxes for both Centre and State will be collected at the
point of sale. Both will be charged on the manufacturing cost. Individuals will be
benefited by this as prices are likely to come down and lower prices mean more
consumption, and more consumption means more production, thereby helping in the
growth of the companies.
Benefit of GST
1. Easy tax compliance. The GST is being introduced to create a common market
across states, not only to avoid enfeebled effect of indirect tax but also to improve
tax compliance.
2. It will lead a more clear and unbiased manner to raise revenue.
3. Price reduction as credit of input tax is available against output tax.
4. Easy and cost saving system as procedural cost reduces due to uniform accounting
for all types of taxes.
5. It is beneficial for both economy and corporations. The reduced tax burden on
companies will reduce production cost making exporters more competitive.
6. It will help in removing economic distortions and bring about development of a
common national market.
7. It will also help to build a transparent and corruption-free tax administration.
8. The tax structure will be made lean and simple
9. The entire Indian market will be a cohesive market. It can facilitate seamless
movement of goods across states and reduce the transaction costs of businesses.
10. It is good for export oriented businesses.
11. Tax evasion will fall.
12. It gives an opportunity for all the poor states to develop.
13. It will help to remove the tax difference as a bias, thereby helping businesses.
Conclusion
The Goods and Service Tax is a system of taxation where there is a single tax
in the economy for goods as well as services. This is meant to bring together the state
economies and create a single taxation system in the entire country for all goods and
services. It is based on a tax-on-value-add concept which avoids duplication of taxes.
The GST when introduced can eliminate all the indirect taxes.The GST is worldwide
accepted system.GST is considered for the goods sold as well as for the services
provided. When GST is introduced the price of a product will become reduced. A fall
in price generally increases the product demand. Not only the price reduces but also
the working capital too. GST makes the price of a product unique throughout the
country.
References
1. http://www.ey.com/in/en/services/ey-goods-and-services-tax-gst
2. http://fintrakk.com/gst-what-is-the-impact-of-gst
3. https://home.kpmg.com/in/en/home/services/tax/goods-and-services-tax/gst-
impact-your-business.html
4. http://www.business-standard.com/article/markets/how-the-gst-bill-will-
impact-various-sectors-and-stocks
5. https://quora.com
R. Sindhuja
Ph. D Research Scholar, GRD, Coimbatore
ABSTRACT
The Indian economy has shown reasonable stability till now despite the threats from depressed
external developments. However, the financial year 2009-10 (FY10) faces multiple downside
risks. The major risk emanates from the fallout affects of the global financial crisis. The
economy has started to show some signs of slowdown especially in terms of export earnings and
remittance inflows (Indian Institute of Development Studies 2009). An economic crisis also
means a social crisis all over the world and particularly in Asia with an estimated 60 million
people remaining mired in poverty due to falling growth rate. Being a global player in the
world economy especially in the garments export and wage earners as foreign expatriate, India
is no exception with this chain reaction.
In the milieu of current global economic slowdown and unprecedented uncertainty, the
challenge for the country is to explore domestic market and focuses on some key sectors to
robust the growth of the economy. There is no single formula or remedy to alleviate the crisis.
In this descriptive paper we want to emphasize what preventive measures India can take to
safeguard its economy and secure a better future for its citizens.
Introduction
Nations worldwide are now not different but one unified global village. One
problem may lead to a chain reaction and the consequences are thus commonly
shared. Specially, when America sneezes the whole world gets flue. Global Recession
which originated from subprime mortgages in the U.S.A hit all the nations more or
less but cumulatively. Some nations have been affected right away while some are
only experiencing the negative impacts of it. The ongoing global economic downturn
has made India to feel a pinch as export sectors and overseas employment have been
affected lately, though officials termed it ‗temporary.‘ This is good news since we can‘t
afford to sustain recession in the long run. However, it‘s a lesson for us! Being
globalized and at the same time our home grown formulas to protect our emerging
economy can only save us from being bombard of any recession in the future.
Patronizing and investing in new areas are also discussed in the context of India.
Energy: Energy is vital for economic growth. With vibrant sectors such as
ready-made garments, pharmaceuticals, shipbuilding, agro-industries, ceramic, raw
hides and leather goods, jute, tea, and related products, as well as the service
industries that earn huge foreign exchange basically rely on consistent supplies of
energy. It is important for the government to articulate how the nation‘s power needs
will be met and how much of it is to be met from internal and external sources.
What exact role will be played by the different resources (gas, hydroelectricity, coal,
and renewable)? This must be determined from a policy perspective that establishes
the allocation of energy to various constituencies (households, industries, and the
service sectors) for immediate and long term needs (Quddus, et al. 2009). As capacity
is gradually increased, how that capacity will be allocated also needs to be projected
for a stable and sustainable growth model of the economy.
For the 70 percent of India‘s 144 million people who have little or no access to
electricity, alternative energy sources may be the option. Years of under-investment
means state-owned power plants generate only 3, 500 megawatts of electricity a day,
whereas demand is 6,000 megawatts and growing by 500 megawatts a year due to
increasing industrialization (Bazar 2009). Given the resource constraints that the
government is likely to face, it should negotiate private investors in the power sector
to ramp up quickly. Commercializing solar system by encouraging public-private
investments will also generate new employment opportunities. It can be a billion
dollar industry with all accessories and devices to generate solar power for rural
people. Subsequently, rural people of India can be more productive after dark and on
their spare time which will further boost our economy.
Agriculture: Agriculture sector has not been affected due to recession.
This sector largely depends on rains, proper distribution of fertilizer, adequate supply
of electricity, low price of diesel, supply of good seeds and modern method of
cultivation. It is good news that the petroleum price in the global market is low. So
the government subsidy is going to be lower in this sector. Because of higher domestic
production and a drastic fall in food grain prices in international market, the import
of food grains fell from 3.2 million tons during July- April FY 2008 to 2.6 million tons
during July-April FY 2009, an 18.7% decline (ADB, 2009).
Agriculture sector should support technological dissemination for diversifying
agricultural export. The present fertilizer distribution system needs to be reviewed to
ensure adequate access and availability of fertilizer. With the help of local
government and ICT, crops could be sold directly to the market eliminating
intermediaries. Farm subsidy should be provided to all farmers with a need base
assessment. Government should promote cutting edge research through different
agricultural institution by substantially increasing their budget allocation.
must offer technical and vocational training opportunities to build its citizen globally
competitive. Migration both in professional and skilled labor categories has long been
declining. Migration in the professional category was nearly 5 percent in 2000, which
dropped to almost zero to 0.19 % at the end of 2008, while the intake of skilled labor
declined to 33 percent in 2008 from 45 percent in 2000. On the other hand,
low-skilled manpower exports rose to 52 percent in 2008 from 38 percent in 2000,
according to India Economic Review (Rahman 2009). Also there is no initiative to
explore job opportunities for skilled workers and professionals.
Overseas employment, a key to economic development has always been
instrumental in reducing local employment and boosting remittances. Semi skilled
jobs, such as basic machining, operating, repair, computer operations, etc. have
always been demanding in the world market. The government needs to promote and
establish programs to train people for retail, ICT, transportation, education, and
other service sectors jobs, since these are the primary areas of employment. Nursing
and hospitality industries have huge demand for overseas employment, and India can
increase remittance income manifold through training and sending out its nationals
in these categories. And also by expanding our literacy rate with opportunity for
higher education, India can succeed in alleviating poverty and other ambitious goals.
Development of Tourism Industry: For many developing countries in
particular the LDCs tourism is considered to be the one of the fundamental pillars of
economic development. The tourism sector can play an important role as a driving
force of economic development by contributing in three high priority goals of
developing countries. It can serve the purpose of income generation, creation of local
employment, and earning foreign exchanges. Government can earn revenue by
imposing tax on products and services used by tourist through Value Added Taxes
(VAT). Tourism offers the opportunity of providing jobs for different classes of people
and thereby contributing to the alleviation of poverty. It‘s a labor intensive industry
provides a scope of direct and indirect opportunities for a large number of skilled and
semi-skilled manpower. Tourism generates job directly through hotels, restaurants,
transportation companies, recreation centers, resorts, and indirectly through supply
of goods and services needed by tourism related business.
The longest sea beach in the world and the largest mangrove forest in the
world tags are just not enough to bring global tourist to Cox‘s Bazar, or to
‗Sundarban‘. With quality hotels, roads, water sports, night entertainment, and above
all with safety it is merely just false illusion. So, the attention must be given on all
these. In the age of media, image could always be crafted to suit a particular goal
(attracting tourists, for example). There is often no sign of such effort in India or its
embassies around the world. Poor image, lack of fund allocation in national budget,
little or no initiatives to preserve, conserve, and maintain the tourist spots, improper
marketing by India Porjoton Corporation, mismanagement of concerned ministries,
department, and agencies further complicated this industry. Therefore, government,
public and private enterprises should work hand in hand to promote this sector to the
international community immediately.
Recommendations
The important lesson to be learned from this crisis that India need strong
domestic industry that is not export dependent. Emphasizing and investing more on
infrastructure development, energy, building quality human resources, tourism and
development of businesses in which we have competitive advantage can only
safeguard the economy from any future disaster. Currently the Indian economy is
just two trick ponies: we either export RMG or our unskilled labor. We need to
diversify our export basket with range of products and services and for that
government subsidy and patronization are very important.
Government of India needs to identify sectors that would cater to local
demand first but also have big export potential as well. Cement and pharmaceutical
should be an obvious target but others such as leather, agro-based and even tourism
should also be given priority. We build roads and bridges that last only for few days
and subsidize sectors that really have no potential growth. Last but not the least,
building on human capital is a must. Exploiting cheap labor domestically and
exporting unskilled labor would only create negative image, social trauma and would
eventually back fire someday and we must be prepared for that.
References
1. India Institute of Development Studies. (2009). Meeting the Challenges of
Global
2. Recession: Recommendations for the National Budget 2009/2010, p.1
3. Selim Raihan and Enam A. Khan (2009). Global Economic meltdown:
Financial and Fiscal Initiatives for Trade and Migrant Workers. Indian
Economic Outlook, vol. 2, no.3, p.6.
4. Harmachi, A. (2009). Indian Can Benefit from Recession: ―The Term, A
Business Monthly‖, Sep.2009, p.37.
5. Syed Ishtiaque Reza (2009). Indian Economy FY 2008-2009: ―The Term, A
Business Monthly‖, Sep.2009, p.11.
6. Sajjadur Rahman (2009). Labor Migration in Slow Lane: The Daily Star, Star
Business, 19 June, p.b1.
7. Ahmed, A(2009). Indian Economy Beset with a gloom: ―The Term, A Business
Monthly‖, Sep.2009, p.38.
8. Quddus et. al., (2009). Six-Point Policy Priorities for Bangladesh 2009-2013:
p.4.
9. Nayeb Ali Bazar (2009). Solor power leads green revolution: The Daily Star,
Star Business, 17 June, p.b4.
10. India Quarterly Economic Update by Asian Development Bank (ADB), March
2009
Mrs. A. Gayathri
Research Scholar, Rajapalayam Rajus’ College, Rajapalayam
Dr. L. Rengarajan
Associate Professor and Head, P.G. and Research Department of Commerce,
Rajapalayam Rajus’ College, Rajapalayam
ABSTRACT
Foreign Direct Investment plays a very important role in the development of the nation.
Sometimes domestically available capital is inadequate for the purpose of overall development
of the country. India has already marked its presence as one of the fastest growing economies of
the world. It has been ranked among the top 10 attractive destinations for inbound
investments. Since 1991, the regulatory environment in terms of foreign investment has been
consistently eased to make it investor-friendly. India‟s recorded GDP growth throughout the
last decade has lifted millions out of poverty & made the country a favoured destination for
foreign direct investment. A recent UNCTAD survey projected India as the second most
important FDI destination after China for transnational corporations during 2011- 2016.
Services, telecommunication, construction activities, computer software & hardware and
automobile are major sector which attracted higher inflows of FDI in India. Countries like
Mauritius, Singapore, US & UK were among the leading sources of FDI in India. The Indian
government‟s favourable policy regime and robust business environment have ensured that
foreign capital keeps flowing into the country. The government has taken many initiatives in
recent years such as relaxing FDI norms across sectors such as defence, PSU oil refineries,
telecom, power exchanges, and stock exchanges, among others.
Introduction
Foreign direct investment (FDI) in India is the major monetary source for
economic development in India. Foreign companies invest directly in fast growing
private Indian businesses to take benefits of cheaper wages and changing business
environment of India. Economic liberalization started in India in wake of the 1991
economic crisis and since then FDI has steadily increased in India. It were
Manmohan Singh and P. V. NarasimhaRao who brought FDI in India, which
subsequently generated more than one crore jobs. In 2015 India overtook China and
the US as the top destination for the Foreign Direct Investment. In first half of the
2015, India attracted investment of $31 billion compared to $28 billion and $27
billion of China and the US respectively.
Make in India is an initiative launched by the Government of India to
encourage multinational, as well as national companies to manufacture their
products in India. It was launched by Prime Minister Narendra Modi on
25 September 2014. India emerged, after initiation of the programme in 2015 as the
top destination globally for foreign direct investment, surpassing the United States of
America as well as People‘s Republic of China. In 2015, India received US $63 billion
in FDI.
Advantages of FDI
An FDI may provide some great advantages for the NME but not for the
foreign country where the investment is made. On the other hand, sometimes the
deal can work out better for the foreign country depending upon how the investment
pans out.
Access to markets: FDI can be an effective way for you to enter into a
foreign market. Some countries may extremely limit foreign company access to their
domestic markets. Acquiring or starting a business in the market is a means for you
to gain access.
Access to resources: FDI is also an effective way for you to acquire
important natural resources, such as precious metals and fossil fuels. Oil companies,
for example, often make tremendous FDIs to develop oil fields.
Reduces cost of production: FDI is a means for you to reduce your cost of
production if the labor market is cheaper and the regulations are less restrictive in
the target foreign market. For example, it‘s a well-known fact that the shoe and
clothing industries have been able to drastically reduce their costs of production by
moving operations to developing countries.
Conclusion
FDI in India has a significant role in the economic growth and development of
India. The government has recently made changes to the Foreign Direct Investment
(FDI) policy regime by enhancing FDI limits in various sectors like Defence, Civil
Aviation etc. FDI in India to various sectors can attain sustained economic growth
and development through creation of jobs, expansion of existing manufacturing
industries. Indian service sector is generating the proper employment options for
skilled workers with high perks. On the other side banking and insurance sector help
in providing the strength to the Indian economic condition and develop the foreign
exchange system in country. So, we can conclude that FDI is always helps to create
employment in the country and also support the small scale industries also and helps
country to put an impression on the world wide level through liberalization and
globalization.
References
1. International Economics – Francis Cheruniliam
2. International Business - Justin Paul
3. International Financial Management – Jeff Madura
4. ―India Attracts Enough FDI to join Global Top Ten – India Real Time – WSJ‖.
The Wall Street Journal, Retrieved 2015-10-11.
5. ―Make in India‘ pitch from Sept.25‖. The Hindu. 2014-09-21. Retrieved 2015-
10-17.
6. ―Government relaxes FDI norms for construction, real estate sector‖.
The Indian Express. 29 October 2014. Retrieved 11 October 2015.
7. ―Construction‖. Make In India. Retrieved 11 October 2015.
8. www.ibef.org
9. www.makeinindia.com
10. www.investopedia.com
11. www.goodreturns.in
12. www.nber.org
13. www.tradingeconimics.com
Dr. S. Usha
Faculty, Department of Management studies,
MKU College, Madurai
Introduction
Customers of today have lot of varied choices to choose from in the fast moving
consumer goods. To keep a consumer loyal to a brand is a big task. Every producer of
FMGC is fighting themselves with the fellow competitors to gain loyal customer.
Brand loyalty is a extent to which a customer constantly buys the same brand within
a product category. The consumer will be buying certain brand as long as it is
available in the market. Even if the other brands are available in a cheaper price and
superior quality loyal customers will stick to their brand. Greater loyalty helps the
company to reduce their marketing expenditure and spend more on improving the
quality and provide the product at a cheaper price. Fast Moving Consumer Goods
(FMCG) Industry in India is one of the fastest developing sectors in the Indian
economy. This industry, more than any other industry, demonstrated how firms could
achieve stability and efficiency in product design, manufacturing and marketing of
products. This study attempts to find the factors which makes the consumer to be
loyal to a certain product. Such an exercise would provide meaningful insight to
arrive at answer to a question why consumers are loyal towards a brand?
Key words: Consumers, Brand, Brand loyalty, FMCG products
Objectives of Study
To study about the consumer preferences towards FMCG products.
To study about the various sources of information relating to FMCG products.
To examine about the various factors which influences a customer to be loyal
towards a brand of FMCG products in Madurai city
Limitations of Study
This study is limited to only 150 consumers within the Madurai city
The time span of research process was one month which was not enough
Review of Literature
Davis (2000) Leading organisations know that brands are more than just
products. Brands are also an indication of what the organisation does and more
importantly, what the organisation is. Usually brands are why an organisation exist;
nor the other way round
Terblanche (2002) assess that the rapidly increasing competitiveness within
the fast moving consumer goods (FMCG) market compels an organisation within this
market to not only entice consumers to purchase the organisation‘s brand, but also to
keep these consumers purchasing the brand. It is therefore essential that an
organisation creates and maintains loyalty among consumers towards its brand.
Data Collection
The researcher should keep in mind two types of data. They are Primary data
and Secondary data.
14% responded that they were influenced by Social media to know about brands
Table 3 Factors Influencing Brand Loyalty
Factors Mean Rank
Quality 33.26 I
Price 28.9 II
Product Features 20.72 III
Brand image 15.85 IV
Availability 13.52 V
Necessity 8.35 VI
Source: Computed data
From Table 3 we understood that the primary factor which influences
customer to be loyal for a brand is its quality. The next best factor influencing brand
loyalty is its price. Price must be lesser than the competition without any compromise
in the quality of the product. The third factor is product features. Unique feature of
the product creates its own loyal customers. The fourth factor which influences brand
loyalty is its brand image. Some people will have traditional mind set towards a
brand. Though any new product comes into the market with better price and quality
they stick to their brand. The least factor influencing loyalty of customer is necessity
for the brand. Because now a days purchase is not only characterised by necessity,
once the customer sees the product in store and he has more disposable income then
he is ready to test new product. The second least factor is availability of product.
The product must be available to customers when it is demanded by them. Otherwise
consumer will shift to next brand available.
Conclusion
Thus study suggests that quality is the priority for customers to be loyal for a
brand. In order to survive in such a competitive market, organisations need to
proactively formulate and adopt strategies that will enable them to improve the
product quality at competitive price with more unique features that the competing
product does not have. These help the company to establish a strong base of
customers that are loyal towards the organisation‘s brand.
References
1. Kapferer, J.N. (1999). Strategic brand management: creating and sustaining
brand equity long term. (2nd edition.). London: Kogan Page.
2. Punniyamoorthy, M; Mohan Raj, Prasanna (2007). "An empirical model for brand
loyalty measurement". Journal of Targeting, Measurement and Analysis for
Marketing. 15 (4): 222–233. 10.1057/palgrave.jt.5750044.
3. So, J. T.; Andrew, G. P.; Yap, S. (2013). "Corporate branding, emotional
attachment and brand loyalty: The case of luxury fashion branding". Journal of
Fashion Marketing and Management. 17 (4): 403–423. 10.1108/JFMM-03-2013-
0032.
4. Fast moving consumer goods industry in India http://www.ibef.org/industry/fmcg-
presentation
Mrs. M. Suganya
Assistant Professor, Department of Commerce,
Saraswathi Narayanan College, Madurai
ABSTRACT
The purpose of this paper is to establish the importance of human resource management
(HRM) and how it emerged, to provide some evidence of its context, to discuss its potential and
future development. Many specialists underlined the fact that human resource requires more
attention and careful management than any other resource of an organization. The role of the
HR manager must parallel the needs of the changing organization. Successful organizations
are becoming more adaptable, resilient, quick to change directions, and customer-centered.
Within this environment, the HR professional must learn how to manage effectively through
planning, organizing, leading and controlling the human resource and be knowledgeable of
emerging trends in training and employee development.
Key Words: International HRM, HRM trends, Human resource, Personnel administration,
Talent management.
Introduction
Organizations of today continue to operate in fast-changing and often
unpredictable environments. Globalization, changing demographics, and changing
customer relationships are frequently cited as trends that require organizational
changes. Frequently caught in the midst of these changes are the human resource
management (HRM) function which has evolved from a narrow personnel view, to a
broader HRM perspective, and then to one that emphasizes a strategic orientation.
This strategic human resource management (SHRM) orientation is evidenced in a
variety of HRM areas, for example, recruitment and selection, training and
development and compensation. Further, during these shifts many have been critical
of the role of HRM and suggested among other things that it does not add value to the
firm. However, others have shown that HRM does indeed add value. Clearly, the field
of HRM is changing and growing, new knowledge is being created, and the standards
of performance will increase in level and type. The HRM field is under pressure from
various quarters.
Objectives
The general emphasis of this study is to examine the applications and
processes key HRM functions and explore the perception on its value-added
contribution towards organizational effectiveness.
What are the organization‘s strategic approaches in recruitment/selection
practices? And how does it support the business/corporate strategy?
Methodology
The paper adopts a literature review approach beginning with indicating and
classifying the literature in a process model format of HRM. The analysis is based
fully on secondary data like books, journals, articles and information available on
internet.
Literature Review
Induction for new recruits is seen to be needed to ensure they understand and
approach their corporate environmental culture in a serious way. Therefore
sustainable development issues must be integrated into the recruitment process.
This involves monitoring the long-term competency requirements for the company,
providing new employees with information about sustainable development policies
and commitments, using recruitment procedures which support the equitable
representation of applicants and recruits in terms of gender, age, racial and ethnic
groups, sexual orientation, disabled people and other relevant groups. For this the
company‘s job descriptions should reflect the sustainability agenda and the
company‘s website and other research tools available for candidate access clearly
outline its greening endeavors. Finally the interview questions should be tailored to
flesh out potential compatibility with the company‘s green goals. The common
sections of job descriptions can be used to specify a number of environmental aspects.
The job title and chain of command must include environmental reporting roles and
health and safety tasks, which staff are exposed to harmful substances/potential
emissions (and their extent), Job purpose must contain a reference to sustainability,
the functions of the job list the primary duties associated with the position and
highlight the specific eco-aspects of the job and matching personal attributes to
needed environmental competencies, i.e. buying-in specialist competencies via new
hires or investing in training. These then should be explained in the company‘s want
ads reflecting the company‘s commitment to sustainable development and ask that all
resumes contain evidence that the prospects have contributed to triple-bottom line
enhancement in prior positions.
human development. Today‘s organization cannot ignore the fact that a key element
of an organization‘s resource capability is its people and greater attention is being
given to the recruitment/ selection process than ever before. Recruitment/selection is
just one of the key human resource (HR) practices that need to be integrated into a
coherent ―bundle‖ by organizations in order to support the delivery of business or
corporate strategy. Newell and Rice (1999) noted that for some, recruitment/selection
lies at the very centre of human resource practices in organizations where
appointment decisions represent one of the most crucial ever taken by employers.
While the recruitment/selection is typically the responsibility of the HR
Director/Personnel, line managers in all the business units of an organization also
have an important role in the recruitment/ selection process.
differences play in the area of recruitment, if any. Ma & Allen (2009) did a conceptual
research, which explores how cultural values influence the effectiveness of
recruitment practices in different cultural contexts. In today‘s business environment
one of the popular sources of hiring people is the ‗word of mouth‘ which significantly
affects the behavioural and perceptual outcomes of the decisions taken to hire right
people. This phenomenon was studied by Van Hoye and Lievens (2009) sample of
potential applicants, targeted by the Belgian Defense. They found that having
positive information regarding potential talents through word-of-mouth early in the
recruitment process was significantly correlated with perceptual (organizational
attractiveness) and behavioural outcomes (actual application decisions).
Another study conducted by Russo et al. (2001) attempted to investigate how
employers‘ recruitment strategies change in response to different conditions on the
relevant regional labor market. The influence of personal networks positively
influences the wages of ref erred individu als (Antoninis , 2006). However, the value
of recommendations to the employer depends on the type of vacancy and the provider
of information. It has been shown that new recruits receive a higher start wage when
recommended by a causal agent with direct experience of their productivity. On the
reverse, the use of recommendations from friends and relatives has no influence on
the starting wage and may even be even negatively related to wages in non-expert
jobs (Antoninis, 2006). Through the literature review an effort has been made to
review the findings of past research work in the area of recruitment practices from
global and distinct perspectives. Furthermore, we have also conducted a survey in
some of the leading IT organizations in India. The main purpose of this study is to
evaluate and understand the significance of the current positioning of various
recruitment sources by doing a SWOT analysis.
Analysis and Findings
The analysis was conducted on to investigate which sourcing channel is most
commonly used in most of the leading organization for hiring the required candidate.
The study, conducted in five companies (Infosys, TCS, Wipro, HCL and IBM), showed
that Job Site/Portals, Social Media like LinkedIn, FB, and Campus recruitment were
the leading channels preferred by organizations for hiring the variant workforces.
These channels constitute 28%, 23% and 22% respectively of overall hiring for these
organizations. Other preferred channels are employee referral (11%), recruitment
agencies/consultants (7%), advertising (4%), and company websites (5%). This is
shown in table.
Sourcing Channels Average
S. No Channels Percentage
1 Employee referral 11
2 Campus recruitment 22
3 Advertising 4
4 Recruitment agencies/consultants 7
5 Job sites/portals 28
6 Company websites 5
7 Social media 23
Total 100
Conclusion
On the basis of the present study, it has been found that in the current
scenario, companies prefer to adopt social media, job portals and campus recruitment
to hire candidates across skill sets. This system has helped the organizations to get
the right talent pool while being cost effective. In other words, by using channels such
as social media, job sites, and campus recruitment, companies have been able to get
the effective resources with minimum cost. This has helped organizations to grow as
they have been able to get the right people for their vacancies. In addition, the
appropriate channels have helped the organizations to get the different and varied
sources to which they can turn to for effective hiring. What is evident from these
channel distribution figures is that no single channel alone will reach all the
candidates and that a multichannel approach is essential to cover up the market.
Recruiters must consider both market flow and share of applications when deciding
which channels to use and to what extent. Although the Web-based job portals
generate many applications they still do not reach all the candidates. To conclude, the
channel distribution figures show recruiters not just the percentage of candidates
that they are reaching via each channel, but also the percentage of candidates that
they are failing to reach and the need to shift their source of recruitment.
References
1. Aruna (2011), Emerging Challenges in Human Resource Management
International Referred Research Journal, April, pp. 83-84.
2. Ekta Srivastava, and Nisha Agarwal (2012), The Emerging Challenges in
HRM, International Journal of Scientific & Technology Research,
Volume 1, Issue 6, July pp. 46-48.
3. Yerlan, Agaidarov (2013), Emerging Global Business Landscape & Innovation
Challenges, Issues & Implications for HRM Function- A case in Russia.
Masters Thesis, University of East London.
ABSTRACT
Focus on whole person development in Higher Education is being promoted globally in many
institutions. “Whole Person Development” (WPD) is a progressive process through which the
intellectual, physical, occupational, psychological, social and spiritual wellness of an
individual can be holistically enhanced to reflect the individual‟s status and self-
understanding leading to all round development. A study on “Whole Person Development” was
undertaken among 94 final year management education students with the aim of measuring
the "Graduate Attributes" through the seven dimensions of Physical Wellness, Social Wellness,
Emotional Wellness, Intellectual Wellness, Spiritual Wellness, Occupational Wellness and
Environmental Wellness. The study reveals that intellectual wellness is high among students
with 63%. But based on the mean value social wellness (85%) is found high. There is positive
and significant correlation between emotional and spiritual wellness (61%), intellectual and
occupational wellness (62%), spiritual and occupational wellness (64%). The students with
individual inadequacies (45) in the above seven WPD areas can be identified and assisted to
build individual development goals to enhance whole person development.
Key Words: Whole Person Development, Physical Wellness, Social Wellness, Emotional
Wellness, Intellectual Wellness, Spiritual Wellness, Occupational Wellness and Environmental
Wellness.
holistic life. The transition from late adolescence to adulthood is the crucial period in
an individual‘s life span that the key transformation happens, in physical, mental,
psychological and social dimensions. The even transformation in all the dimensions
will facilitate the individual to become a holistic individual. When a student comes
out as a graduate from the institute, he or she is expected to take up primary and
social responsibilities and demonstrate success in their life. The employers,
universities and society expect a graduate student to have attributes like positive
attitude, good communication skills and capacities for working in teams.
These attributes are believed to be the contributing factors for whole person
development and in order to realize these attributes, higher education institutes are
engaging in including ―other learning experiences‖ like community services, value
education, appreciating aesthetics, art and nature along with the regular academic
activities. It is believed that such an exposure helps the individuals to develop the
habit of personal reflection, fostering life-long learning capacity.
Seven Dimensions of Wellness
Develop positive lifestyle and healthy image; Enhance physical
Physical
fitness; Attend to personal grooming and appearance
Develop satisfying interpersonal relationship; Establish close
Social friendship and supportive network; Have respect for individual
differences and cultural diversity
Express and manage emotions appropriately; Manage Stress; Show
Emotional
empathy for other people emotions; Build up self-esteem
Develop intellectual curiosity and lifelong learning; Think critically;
Intellectual Formulate meaningful questions and make judgements; Be creative
and open to new ideas.
Establish purpose, direction and meaning in life; Build up a value
Spiritual system; Develop sound moral and ethical judgment; Develop a
commitment to serve the community
Develop appreciation of beauty, art, nature, and life; Participate in
Environmental
artistic and cultural activities
Identify career choices and make career decisions; Develop career
Occupational
plans and strategies; Achieve career satisfaction
In this context, a study was undertaken among final year graduating
management education students with an aim to measure the level of wellness and to
prepare them to take up managerial positions in the future.
Hypotheses
H0: There is no significant relationship between the seven dimensions of
wellness among final year management education students.
Scope of Study
The study is confined to final year graduating management education
students at an educational institution in Madurai.
Methodology
The study follows descriptive research design. 94 final year management
education graduating students were selected for the study. Primary data was
collected using a standardized scale developed by University of South Carolina.
This inventory consist of 42 statements measuring seven different dimensions of
wellness which include physical wellness, social wellness, emotional wellness,
intellectual wellness, spiritual wellness, occupational and environmental wellness
with 6 statements in each dimension. Five-point scale was adopted to measure the
responses. Interview schedule was used to collect data. Secondary data used for the
study are e-journals and internet. SPSS was used to test correlation and generate
multi variant tables. Bar diagram was used to present the data.
Occupational
Environment
Intellectual
Emotional
Discipline
Spiritual
Physical
Social
al
Overall 22 25 24 24 25 25 22
Percentage 72 85 78 81 83 83 74
Chart No.2
Overall Mean Value
The above bar diagram,
shows that the social
wellness (85%) is highest
among the seven dimensions
of wellness.
H0: There is no
significant relationship
between the seven dimensions
of wellness among final year
management education
students.
Suggestions
Higher Education Institutions can incorporate the seven dimensions of ‗Wellness‘
in the curriculum to enhance the whole person development of students.
The results of this study can be taken as a lead for Higher Education Institutions
to study the level of Wellness of students at the entry and exit level.
Students who are identified with low level of wellness can be counseled for
improving the wellness in the required dimension.
An orientation program among all the students can be organized reiterating the
importance of leading a healthy life incorporating the seven dimensions of
‗Wellness‘.
Conclusion
Higher education has an important role to play in shaping our future society
because today‘s college students will be the future professionals as business
managers, teachers, entrepreneurs, citizens, parents and neighbors. While they need
to be able to demonstrate key skills and knowledge to enact those roles effectively,
they must also demonstrate personal and social responsibility in carrying them out.
A focus on holistic student development may be particularly timely in addressing the
current challenges.
Reference
1. https://www.sa.sc.edu/
2. chtl.hkbu.edu.hk/main/wpe/
3. http://journals.sagepub.com/doi/abs/10.1177/0748175615625748
4. http://www6.cityu.edu.hk/edge/conference2012/presentation_material/25-PPT.pdf
5. http://www6.cityu.edu.hk/edge/conference2012/presentation_material/25-PPT.pdf
6. https://www.insidehighered.com/blogs/higher-ed-beta/educating-whole-person
7. http://www.leadership-retreat.com/whole_person_Development.html
I.Sudhakar
Asst. Prof. in Computer Science
VLB Janakiammal College of Arts and Science, Kovai pudur, Coimbatore
ABSTRACT
E-Commerce offers buyer and sellers a new form of communication and provides
opportunities to create new market place. The purpose of the present study is to
investigate the impact of e-commerce on Business in India. Today there is demand for
a business which is flexible enough to respond to any fluctuations in the running of the
business. What differentiates an on-demand business from its competition is the fact
that it is responsive in real time—as the events occur. This is possible only because all
its business processes are thoroughly integrated, and the IT infrastructure exists in an
on-demand operating environment. This research paper is briefly presenting the E-
Commerce, its status and impact on business in India.
Introduction
E-commerce is anything that involves an online transaction. This can range
from ordering online, through online delivery of paid content, to financial
transactions such as movement of money between bank accounts.
The E-Commerce is one of the biggest things that have taken the Indian
business by storm. It is creating an entire new economy, which has a huge potential
and is fundamentally changing the way businesses are done. It has advantages for
both buyers as well as sellers and this win-win situation is at the core of its
phenomenal rise.
Rising incomes and a greater variety of goods and services that can be bought
over the internet is making buying online more attractive and convenient for
consumers all over the country. Electronic commerce is presently an essential
ingredient of India‘s trade facilitation policy. Since 1991, after economic reforms
explicitly took place in India as a result of opening of the economy with a view to
integrate itself with the worldwide economy, the need to facilitate international trade
both through policy and procedure reforms has become the foundation stone of India‘s
trade and fiscal policies. Resultantly, last few years have witnessed a technological
revolution accompanied by the wide spread use of the Internet, web technologies and
their applications. Electronic Business (e-commerce) as part of the information
technology revolution became widely used in the world trade in general and Indian
economy in particular.
As a symbol of globalization, E-Commerce represents the cutting edge of
success in this digital age and it has changed and is still changing the way business is
conducted around the world. The commercialization of the Internet has driven
electronic commerce to become one of the most capable channels for
inter-organizational business processes.
Global Trade
E-Commerce is one of the major factors in the globalization of business. Other
factors include decreases in trade barriers, globalization of capital markets. Indian
E-Commerce has grown at a compounded annual growth rate of 30% since FY09, and
is expected to be $18 billion (around Rs 1,116,00 crore) opportunity by FY15.
Virtual Business
As a result of E-Commerce, business firms now have the ability to become
virtual businesses. Virtual business uses electronic means to transact business as
opposed to the traditional means of face to face transaction.
Literature review
India has an internet user base of about 137 million as of June 2012. The
access of E-Commerce is low as compared to markets like the United States and the
United Kingdom but is growing at a much faster rate with a large number of new
entrants.
Cash on delivery is a unique thing to India and is a preferred payment
method. India has a vibrant cash economy as a result of which around 80% of Indian
E-Commerce tends to be Cash on Delivery.
E-Commerce in India is still in burgeoning stage but it offers extensive
opportunity in developing countries like India. Highly intensed urban areas with very
high literacy rates, huge rural population with fast increasing literacy rate, a rapidly
growing internet user base, technology advancement and adoption and such other
factors make India a dream destination for E-Commerce players. Moreover, squat
cost of personal computers, an emergent installed base for Internet use and a
progressively more competitive Internet Service Provider (ISP) market has added fuel
to the fire in augmenting e-commerce growth in Asia‘s second most populous nation.
India‘s e business industry is on the growth curve and experiencing a surge in
growth. The Online Travel Industry is the biggest segment in e business and is
flourishing largely due to the Internet-savvy urban population. The other segments,
categorized under online non-travel industry, include e-Tailing (online retail), online
classifieds and Digital Downloads (still in a blossoming stage). The online travel
industry has some private companies such as Makemytrip, Cleartrip and Yatra as
well as a strong government presence in terms of IRCTC, which is a successful Indian
Railways initiative. The online classifieds segment is broadly divided into three
sectors; Jobs, Matrimonial and Real Estate. A description by the Internet and Mobile
Association of India has exposed that India‘s E-Commerce market is mounting at an
average rate of 70 percent annually and has grown over 500 percent since 2007. The
current estimate of US$ 6.79 billion for year 2010 is way ahead of the market size in
the year 2007 at $1.75 billion.
Apparently, more online users in India are willing to make purchases through
the Internet. Overall e-commerce industry is on the edge to experience a high growth
in the next couple of years. The e-commerce market in India was largely dominated
by the online travel industry with 80% market share while electronic retail (E-
Tailing) held second place with 6.48% market share.
E- Tailing and digital downloads are expected to grow at a faster rate, while
online travel will continue to rule the major proportion of market share. Due to
increased e-commerce initiatives and awareness by brands, e- Tailing has
experienced decent growth. According to the Indian Ecommerce Report released by
Internet and Mobile Association of India (IAMAI) and IMRB International, ― The
total online transactions in India was Rs. 7080 crores (approx $1.75 billion) in the
year 2006-2007 and it was grown by 30% to touch Rs. 9210 crores (approx $2.15
billion) by the year 2007-2008.
India's e-commerce market was worth about $2.5 billion in 2009, it went up to
$6.3 billion in 2011 and to $14 billion in 2012. About 75% of this is travel related
(airline tickets, railway tickets, hotel bookings, online mobile recharge etc.). Online
Retailing comprises about 12.5% ($300 Million as of 2009). India has close to 10
million online shoppers and is growing at an estimated 30% CAGR vis-à- vis a global
growth rate of 8–10%. Electronics and Apparel are the biggest categories in terms of
sales.
As per "India Goes Digital", a report by Avendus Capital, a leading Indian
Investment Bank specializing in digital media and technology sector, the Indian e-
commerce market was estimated at Rs 28,500 Crore ($6.3 billion) for the year 2011.
Online travel constitutes a sizable portion (87%) of this market today. Online travel
market in India is expected to reach Rs 54,800 Crore ($12.2 billion) in size by 2015.
Indian e-tailing industry is estimated to grow to Rs 53,000 Crore ($11.8 billion) in
2015. Overall e-commerce market is expected to reach Rs 1,07,800 crores (US$ 24
billion) by the year 2015 with both online travel and e-tailing contributing equally.
Another big segment in e-commerce is mobile/DTH recharge with nearly 1 million
transactions daily by operator websites.
Conclusion
The e-commerce market in India has grown by 34 percent in the last seven
years, was about USD 600 million in 2011-12 and is expected to touch USD 9 billion
by 2016 and USD 70 billion by 2020. According to Forrester, the Indian e-commerce
market is expected to grow at a CAGR of over 57 percent between 2012 and 2016,
which is the fastest within Asia-Pacific region. The key factors that are driving this
growth are the rise of Internet usage (growing at 20 percent) & 3G penetration, and
increasing Smartphone users with availability of Internet on mobile phones. It is
estimated that currently there are 27 million mobile Internet users in India out of
which 4 percent are buying products on mobile.
Despite the advantages of e business in India, there are certain challenges to
be faced which are as follows
indication. I expect that the next few quarters will witness announcements of new
smartphones in India at the $30-40 price point. That should stimulate growth in
smartphone ownership. As a result E-Commerce market will also rise further.
References
1. Elizabeth Goldsmith and Sue L.T. McGregor(2000); E-commerce: consumer
protection issues and implications for research and education; J Consumer
Studies & Home Economics; Vol.24, No.2, June 2000, pp.124–127.
2. Patric Barwise(2001); TV, PC or Mobile? Future media for consumer e-commerce;
Business strategy review; Vol.12, issue 1; 2001; pp.35-42.
3. Johnson, C. (2003). U. S E-commerce: the year in review, Cambridge, MA:
Forrester Research.
4. www.google.co.in
5. www.emarketer.com
6. www.wikipedia.org
ABSTRACT
Corporate Governance has assumed vital role and implication due to globalisation.
The excellence in customer satisfaction, product and service, social responsibilities towards
society and people cannot be achieved without practicing good Corporate Governance.
The importance of banks to national economies can be seen by the fact that banking is
unanimously regulated industry. From a banking industry perspective, corporate governance
involves the manner in which the business and affairs of banks are governed by their boards of
directors and senior management, which affects how they function. Corporate governance
requirements in banks, it is observed that many of the recommendations like Optimum
combination of executive and non-executive directors in the Board, Pecuniary relationship or
transactions of the non-executive directors vis-à-vis the bank, Independent Audit Committees,
their constitution, chairmanship, power, roles, responsibilities, conduct of business, etc. The
Audit Committee of the board may look into the reasons for default in payment to depositors,
debenture holders, shareholders (non-payment of dividends) and creditors, wherever there are
any cases of defaults in payment.
Introduction
Corporate Governance structure in India is seen at par with the developed
countries but the same has to be implemented in letter as well as spirit. Presently,
Corporate Governance has assumed vital role and implication due to globalisation.
The excellence in customer satisfaction, product and service, social responsibilities
towards society and people cannot be achieved without practicing good Corporate
Governance. The importance of banks to national economies can be seen by the fact
that banking is unanimously regulated industry. It is thus of great importance that
banks have strong Corporate Governance practices.
Align corporate activities and behavior with the expectation that banks will
operate in a safe and sound manner, and in compliance with applicable laws and
regulations; and
Protect the interests of depositors.
Corporations need to recognize that their growth requires the cooperation of
all the stakeholders; and such cooperation is enhanced by the corporation adhering to
the best corporate governance practices. In this regard, the management needs to act
as trustees of the shareholders at large and prevent asymmetry of benefits between
various sections of bank customers and shareholders, especially between the owner-
managers and the rest of the shareholders.
Role of Independent Directors form the basis for effective implementation of
corporate governance in banks, it is necessary to reproduce the code of conduct
prescribed under.
An independent director shall:
1) Uphold ethical standards of integrity and probity;
2) act objectively and constructively while exercising his duties;
3) exercise his responsibilities in a bona fide manner in the interest of the company;
4) Devote sufficient time and attention to his professional obligations for informed
and balanced decision making;
5) Not allow any extraneous considerations that will vitiate his exercise of objective
independent judgment in the paramount interest of the company as a whole,
while concurring in or dissenting from the collective judgment of the Board in its
decision making;
6) Not abuse his position to the detriment of the company or its shareholders or for
7) The purpose of gaining direct or indirect personal advantage or advantage for any
associated person;
8) Refrain from any action that would lead to loss of his independence;
9) Where circumstances arise which make an independent director lose his
Independence, the independent director must immediately inform the Board
accordingly;
10) Assist the company in implementing the best corporate governance practices.
shareholders;
7) Balance the conflicting interest of the stakeholders;
8) Determine appropriate levels of remuneration of executive directors, key
managerial personnel and senior management and have a prime role in
appointing and where necessary recommend removal of executive directors, key
managerial personnel and senior management;
9) Moderate and arbitrate in the interest of the company as a whole, in situations of
conflict between management and shareholder‘s interest.
Duties
The independent directors shall
1) Undertake appropriate induction and regularly update and refresh their skills,
2) Knowledge and familiarity with the company;
3) Seek appropriate clarification or amplification of information and, where
necessary, take and follow appropriate professional advice and opinion of outside
experts at the expense of the company;
4) Strive to attend all meetings of the Board of Directors and of the Board
committees of which he is a member;
5) Participate constructively and actively in the committees of the Board in which
they are chairpersons or members;
6) strive to attend the general meetings of the company;
7) Where they have concerns about the running of the company or a proposed action,
ensure that these are addressed by the Board and, to the extent that they are not
resolved, insist that their concerns are recorded in the minutes of the
Board meeting;
1) keep them well informed about the company and the external environment in
which it operates;
2) Not to unfairly obstruct the functioning of an otherwise proper Board or
Committee of the Board;
3) Pay sufficient attention and ensure that adequate deliberations are held before
approving related party transactions and assure themselves that the same are in
the interest of the company;
4) Ascertain and ensure that the company has an adequate and functional vigil
mechanism and to ensure that the interests of a person who uses such mechanism
are not prejudicially affected on account of such use;
5) Report concerns about unethical behavior, actual or suspected fraud or violation
of the company‘s code of conduct or ethics policy;
6) Acting within his authority, assist in protecting the legitimate interests of the
Company, shareholders and its employees;
1) Not disclose confidential information, including commercial secrets, technologies,
advertising and sales promotion plans, unpublished price sensitive information,
unless such disclosure is expressly approved by the Board or required by law.
Conclusion
The Audit Committee of the board may look into the reasons for default in
payment to depositors, debenture holders, shareholders (non-payment of dividends)
and creditors, wherever there are any cases of defaults in payment. In the interest of
the shareholders, the private sector banks and public sector banks which have issued
shares to the public may form committees on the same lines as listed companies
under the Chairmanship of a non-executive director to look into redressal of
shareholders' complaints. All listed banks may provide un-audited financial results
on half yearly basis to their shareholders with summary of significant developments.
Dr. J. Mahamayi
Assistant Professor of Commerce
V.V. Vanniaperumal College for Women, Virudhunagar
Praiseline Jeba
Research Scholar, Ph.D full time
V.V. Vanniaperumal College for Women, Virudhunagar
Introduction
E-banking has been a blessing in disguise after the announcement of
demonetisation by the government of India. It has played succor to the cash-strapped
Indians after the digital push by the government. There may be short-term impact on
the economy and the people but in the long run it will have beneficial impact on the
country. People started using e-banking today and they felt it to be more convenient
to use.
E-Banking
Online banking is an electronic payment system that enables customers of a
financial institution to conduct financial transactions on a website operated by the
institution, such as a retail bank, virtual bank, credit union or building society
Demonetisation
There are multiple reasons why nations demonetize their local units of
currency. Some reasons include to combat inflation, to combat corruption, and to
discourage a cash system. The process of demonetisation involves either introducing
new notes or coins of the same currency or completely replacing the old currency with
new currency.
In November 8th 2016, the Indian government decided to demonetize the
500- and 1000- rupee notes, the two biggest denomination notes. These notes
accounted for 86% of the country‘s cash supply. The government‘s goal was to
eradicate counterfeit currency, fight tax evasion, eliminate black money gotten from
money laundering and terrorist financing activities, and promote a cashless economy
around 75 crore debit and credit cards in the country, and almost 72 crore of these
are debit cards.
Electronic Wallets
Electronic wallets, or mobile wallets, have seen a manifold growth of usage
since the November 8 announcement, which was spread throughout the country, and
not only the urban centres. These wallets actually play the part of a physical wallet
in the daily lives of people in a sense that money is pulled out of the banking system
when it circulates in the system of a wallet operator. From a consumer perspective
these wallets, or prepaid payment instruments, such as Paytm, Mobikwik, Free
Charge, Oxigen, etc can primarily be used for making payments for mobile recharges,
utility bills, etc but are now expanding to be accepted at toll plazas, metro train
stations, and petrol pumps.
Unified Payments Interface (UPI)
The National Payments Corporation of India (NPCI) rolled out the Unified
Payment Interface platform in April, but it failed to gain traction with several large
banks coming on board only post November 8. Fundamentally, UPI uses the
Immediate Payment Service (IMPS) platform to transfer money between two bank
accounts. The Unified Payment Interface is a better universal option than electronic
wallets in terms that interoperability within wallets is not yet allowed in India.
Unstructured Supplementary Service Data (USSD)
While most of the cashless methods of financial transactions mandate use of a
smartphone, the USSD method works on the voice network and can work on a feature
phone without an internet connection as well. As far as the functionality to check a
bank account balance is concerned, it is as simple as checking the phone‘s prepaid
balance.
Aadhaar Enabled Payment System (AEPS)
The Aadhaar Enabled Payment System is a tool that can be used by 36 crore
Aadhaar card holders that have linked their unique identification numbers to their
respective bank accounts. The Unique Identification Authority of India (UIDAI) a
Chief Executive Officer (CEO) Pandey has pegged that going ahead; an Aadhaar card
can virtually become a users debit card. The payment system uses a simple finger-
print reader, which is available at a retail price ranging from Rs 2,000 to Rs 4,000. It
also requires a software that is supported by a bank, which is used by a merchant to
take payments.
Impact of E-Banking after Demonetisation
Demonetisation has created a more transparent economy where the government
encouraged more digital transactions.
The general public need not worry about the risk of carrying physical cash.
Debit cards were used extensively for purchase and shopping and people started
using swipe machines at Point of Sale and felt that it was more convenient to pay
as there is no need to carry cash.
It was also used at petrol pumps and shopping malls as the people couldn‘t
withdraw money at will because of the restrictions imposed by the central bank.
There were 72 crore debit cards in the country and this penetration has helped
people to use card more frequently for their transactions. The ecommerce boom
has been a catalyst for the use of debit cards as more people shopped online and
debit cards were used as their primary payment instrument.
Electronic wallets or mobile wallets are the biggest gainers as it has seen
manifold growth of usage after demonetisation. With the penetration of
smartphones and internet mobile wallets gained traction and people used this for
everyday transactions like mobile recharge, bill payments and now it has been
accepted at restaurants, metro stations and petrol pumps. Wallets like Paytm,
Mobikwik, SBI Buddy, and ICICI Pockets have helped people to save their
precious time and energy.
Unified Payment Interface has been here for a while but has become popular only
after the discontinuation of old notes. The recently launched BHIM (Bharat
Interface for Money) app by the Government of India is based on this system. One
can pay directly through this system to any account in the country or to any
merchant account.
Unstructured Supplementary Service Data (USSD) is the only platform that
doesn‘t require the need for an active internet or a smartphone for transaction.
It works on feature phones. The system uses mobile network and message for
transaction and this has been a boon for the villagers where there is lack of
internet penetration.
Aadhaar has been given primacy by the government and this has helped the
Aadhaar based payment gateway a real fillip as this is based on fingerprint
readers and there is no need to carry cards or mobile phone. With more than
100 crore people being enrolled by UIDAI, this would be a game changer and a
great enabler for the rural folks. They can just use their fingers to authenticate
any transactions.
There were limitations to these digital transactions especially with the rural and
illiterate folks who find it difficult to adapt to the new technology.
Technical issues faced by many platforms especially at rural areas may be a cause
of concern for the people.
Lack of Internet penetration and smart phones may be a hindrance to digital
transactions.
Conclusion
India has been a growing economy and financial inclusion plays a pivotal role
in the advancement of this growth story. Demonetisation has caused great hardships
to the general public but with the advent of numerous digital instruments this issues
have been negated and people quickly adapted to the new environment. The biggest
hallmark of this demonetisation was the quick adaptability of the masses. Even road
side vendors started using mobile wallets and QR codes for everyday transactions.
As the government perceives, the economy should move to a more robust and
transparent economy as this will eliminate black money, corruption and many other
social evils that afflict the country. Initially people faced some hardships but
gradually they adapted to the digital economy and found it to be more convenient and
transparent. Long queues at the bank have been a thing of the past and people
reaped the benefits of 24*7 banking, that to at the comfort of their homes. The future
holds good for digital transactions and with improved infrastructure, the country is
moving towards more transparent and vibrant economy.
ABSTRACT
Plastics waste management is one of the wonderful inventions of the present era. As plastics are
an omnipresent material, without which we cannot survive, it plays a key role in everyday life.
Replacing plastics with traditional materials is a tedious job, but using plastic articles and
adopting plastics, waste management technique is the best alternative. This paper is presented
to make awareness about. Plastics waste management and to spot out the organisations that
work after Plastics waste management.
Introduction
Eco-friendly technology also known as sustainable technology is a way to
conserve nature and its gifts. There are various kinds of Eco-friendly technology, they
are using solar energy, wind energy and hydel energy instead of consuming and
depleting the fossil fuels, Plastics waste management, pollution control and
environment protection technologies like rain water harvesting technique,
underground drainage system, recycling of bio wastes, natural resource management,
etc. out of these Eco-friendly technologies, Plastics waste management is the present
issue which is made essential to preserve our planet for a healthy future. Plastic
waste is recycled in India in an ―unorganized‖ way. 60% of the plastic-waste collected
and segregated gets recycled back into materials for further processing into consumer
products, while the balance is left unutilized. Regulations and legislations are being
enforced in India a National Plastic Waste Management Council Task Force has been
set up by the Government of India, Ministry of Environment of Forests, with the
association of Department of Petroleum and Chemicals, Ministry of Urban Affairs,
Municipal Corporation of Delhi and various groups/associations of plastic
manufacturers. Scope is there for the recycling/management of plastic waste, as an
`organised activity‘ in India.
Plastics waste
The quantum of solid waste is ever increasing due to increase in population,
developmental activities, changes in life style, and socio-economic conditions, Plastics
waste is a significant portion of the total municipal solid waste (MSW). It is
estimated that approximately 10 thousand tons per day (TPD), i.e) 9% of MSW of
plastics waste is generated out of 1.20 lakhs TPD of MSW in the country. The plastics
waste constitutes two major category of plastics; (i) Thermoplastics and (ii) Thermo
set plastics. Thermoplastics are recyclable plastics. They melt on heating and can be
remoulded. Thermo set plastics cannot be recycled. They get hardened on heating, it
does not melt and so it cannot be remoulded. Thermoplastics, constitutes 80% and
thermo set constitutes approximately 20% of total post-consumer plastics waste
generated in India. The Thermoplastics are recyclable plastics which include;
Polyethylene Terephthalate (PET), Low Density Poly Ethylene (LDPE), Poly Vinyl
Chloride(PVC), High Density Poly Ethylene (HDPE), Polypropylene(PP), Polystyrene
(PS) etc. However, thermo set plastics contains alkyd, epoxy, ester, melamine
formaldehyde, phenolic formaldehyde, silicon, urea formaldehyde, polyurethane,
metalised and multilayer plastics etc.
Recommendations
Scientific ways are to be adopted for rejection, disposal, reduction
Scientific studies focusing on safety hazards and impact on environment on PW
and WM methods are to be made.
Identifying the ways to reduce PW and build it in while making rules
Penalty along with reward policy
A coordinated approach to deal with the regulation of PW and PWM through clear
cut responsibility with accountability
Proactive approaches to draw cooperation and support from common people
Creation of PWM system with complete clarity about responsibility accountability
and penalty
Schedule of monitoring based on types of Plastic Waste
Emphasis on encouragement schemes for those keen to work for PW and PWM
Incentives for innovation in PWM
Adoption of state-of-the-art of technology and system
For collection, Segregation, Transportation and Disposal - Municipal Corporation,
Council and Panchayat should also be made responsible.
Conclusion
Thus, this paper is presented with a motive to make awareness on Plastics
waste management. Plastic Waste Management has assumed great significance in
view of the urbanisation activities. Various strategies are being devised to diminish
the impact of plastic waste in India. India has witnessed a substantial growth in the
consumption of plastics as a result, the amount of plastics wastes is increased, and
this is the cause for the adoption of Plastics waste management in India. India‘s rate
of recycling of plastic waste is the highest (60%) in the world as compared to other
countries like China 10%, Europe 7%, Japan 12%, South Africa 16% and USA 10%.
Reduce-Reuse-Recycle is the logo of Plastics waste management Commission in India.
This paper gives awareness - not to avoid plastics but to Reuse them by Recycling.
K. V. Arunkumar
Asst. Professor of Commerce, Department of Commerce,
Senthamarai College of Arts & Science, Madurai
ABSTRACT
Green marketing refers to the process of producing and selling products and also service based
on their environmental benefits. In current scenario more companies are starting to follow the
green marketing, at the same time urban consumers are more aware of the green marketing but
rural consumers not more aware of the green marketing. In a world all the countries are taking
steps to reduce the plastic and implement the eco- friendly products way of green marketing
and save the earth. Their kinds of products are not affecting the environment and also re-
compose the wastage to re-usable .so this could save the earth from the wastage and also save
the people‟s health.
Introduction
Green marketing is the most modern and recent trend market .this enabled
for the environment safe in human animal and planets. The term Green marketing
came into the late 1980s and early 1990s .the American marketing association (AMA)
held the first workshop on ―Ecological Marketing‖. Other similar terms used are
environmental marketing and ecological marketing. Green marketing refers to
holistic marketing concept where in the production, marketing consumption and
disposal of products and services happen in a manner that is less detrimental to the
environment with growing awareness about the implications of global warming ,
non- biodegradable solid waste, harmful impact of pollutants etc…Companies
involved in Green marketing the make decision relating to the entire process of
companies products, such as methods of processing packaging and distribution. While
the shift to ―GREEN‖ may appear to be expensive in the short term, it will definitely
prove to be indispensable and advantages cost wise to in the long run.
Definition
According to pride and Ferrell (1993) ―Green marketing also alternatively
known as environmental marketing and sustainable marketing ,refers to an
organizational efforts at designing ,promoting ,pricing and distributing products that
will not harm to the environment ―.
Conclusion
Today‘s consumers are becoming more and more conscious about the
environment and are also becoming socially responsible. Therefore, more companies
are responsible to consumer aspirations for environmentally less damaging or neutral
products. A clever marketer is one who not only convinces the consumer, but also
involves the consumer in marketing his product. Green Marketing should not be
considered as just one more approach to marketing, but has to be pursued with much
greater vigor, as it has an environmental and social dimension to it. Marketers also
have the responsibility to make the consumers understand the need for and benefits
of green products as compared to non-green ones. In green marketing, consumers are
willing to pay more to maintain a cleaner and greener environment.
Finally, consumers, industrial buyer and suppliers need to pressurize effects on
minimize the negative effects on the environment – friendly. Green Marketing
assumes even more importance and relevance in developing countries like INDIA.
The important one is government; government is playing a vital role to create new
rules and regulations for implementing green marketing. Also government gives
loans and subsidies for innovative environmentally friendly products producing
companies.
S. Tamilarasi
Research Scholar, Mother Teresa Women’s University, Kodaikanal
Dr. K. Kungumaraj
Head and Assistant Professor, Department of Computer Applications
Arulmigu Palaniandavar Arts College for Women, Palani, Tamil Nadu – India
ABSTRACT
Recent threats in network security is extremely high and this paper lists out various recent
threats and the best practices that could be followed to reduce the impact. In general, the
following threats and the solution for each and every threat is explained in detailed in this
paper. Security threats abound in the enterprise. Today's IT security professionals must worry
about malware, spyware, hackers, DDOS attacks, hijacked USB drives, spies, cyber war and
other vulnerabilities too numerous to mention. Fortunately, technological innovations are
emerging to help block these types of attacks. Companies such as Seclore, for example, offer
services that are designed to protect not just the delivery of documents outside an organization,
but controlling how long someone has access to those docs. With new kill-chain tactics,
meanwhile, a start-up such as Cloud Strike says it can determine not just the nature of a new
attack but also develop a profile of the attacker.
Keywords: Threats, Countermeasures, Cyber war, Security
Introduction
In today's business environment, companies are expected to grow quickly.
These tech advances will help firms scale up -- and down, when necessary -- so
growth doesn't turn into a bad thing. Traditional security tools aren't always up to
the task of keeping sensitive business info in safe hands. These innovations will help
you stay a step ahead. The network connects everything: people, processes, devices,
applications, everything digital. It sits right in the middle of all these interactions
and is the entry point for anything that wants to interact with everything else.
As every company‘s most pervasive infrastructure, the network must also be its most
preeminent security gatekeeper.
Recent Threats and Solutions
Smartphones and other mobile devices are creating a prime target for
malicious actors in the Internet of Things (IoT). The rapid uptake of bring-your-own-
device (BYOD), and the introduction of wearable technologies to the workplace, will
increase an already high demand for mobile apps for work and home in the coming
year. To meet this increased demand, developers working under intense pressure and
on razor-thin profit margins will sacrifice security and thorough testing in favor of
speed of delivery and low cost, resulting in poor quality products more easily hijacked
by criminals or hacktivists.
VIP Spoofware
Hackers are becoming increasingly talented at infiltrating business networks
to gain visibility of personnel and their responsibilities, and then using this
information to trick staff for financial gain. For example, sending an email to the
finance team that appears to be from the CFO requesting the transfer of significant
funds. This is just one of the ways we‘ll see criminals continue to target businesses.
Solution Proposed
Personal confirmation from the concerned persons.
Ransomware
Solution Proposed
New categories of security software, specifically deception technology, can
detect ransomware without using a signature-based approach. Deception
technology utilizes fake SMB shares which surround real IT assets. These fake SMB
data shares deceive ransomware, tie the ransomware up encrypting these false SMB
data shares, alert and notify cyber security teams which can then shut down the
attack and return the organization to normal operations. There are multiple
vendors[85] that support this capability with multiple announcements in 2016.
BYOD:
No threat list would be complete without referencing this threat. BYOD often
provides the business with cost savings and increased productivity/effectiveness from
their workforce. However, the security challenge that this movement has created has
also left IT departments in a bit of a quandary.
Solution Proposed
Organizations need to have a BYOD strategy and policy that is appropriate to
their situation. Obvious security points to address with the policy include: password
enforcement; encryption; device management; access control, etc. should all be kept in
mind while still maintaining enough freedom to keep the employee happy. Striking
that balance is important to keeping the organization more secure and at the same
time, empowering employees. Of course, that‘s often easier said than done as
organizations need to properly enforce the policy - something that presents a
challenge in its own right. Security training that includes reminders about safe
browsing and identifying suspicious links wouldn‘t go amiss.
Innovative Ideas
These innovations, along with four others, described below might be the
answer to a common dilemma: Relying too long on the standard security techniques
that a large company installed long ago.
Seclore: Controlling When, How Information Can Be Accessed
Security inside an organization is one thing. Protecting documents and files in
the perimeter that's outside the firewall is a greater challenge. Enter information
rights management, also known as enterprise rights management; this typically uses
encryption, rights policies, full auditing and other security tools to protect sensitive
information. IRM tools such as Seclore protect "who, what and when" policies for
documents. One critical Seclore feature: IT can also control how long a document is in
the hands of someone outside the company.
Daimler, Panasonic and Fugro use the service.
Taa SERA: Analyzing Communication Patterns of Malware
It takes more than a clever product name to block malware attacks. TaaSERA
does have a clever name-it means Trust as a Service-but the inner working of the
detection engine should appeal to CSOs everywhere. The analyzer is what you might
call "zero minute" detection; it looks for trace signs of a new malware agent such as
the tell-tale signs of infection. The service goes beyond the signature-based security
tools that block known viruses, though, using "correlated sequence of inbound
exploits, binary downloads, command and control communication and outbound
scans" to diagnose malware attacks
Crowd Strike: Introducing Kill-Chain Tactics
In any war, it's important to know your enemy. While CrowdStrike remains in
private beta and will debut this fall, the cloud provider uses a novel approach. The
idea is to go on the offensive: The firm's technology analyzes the attacker and
develops a model based on what an attacker is trying to do and the tools it is using.
This tactic, known as a kill-chain, helps a company strategize about and defend
against a known attacker. It can also turn the tables on an attacker by first
pinpointing its identity and intent and then "creating doubt and confusion" that ties
up resources and denies it access to the information it wants.
Trusteer Apex: Behavioral Whitelisting
In addition to the kill-chain tactic, in which you learn about the attacker and
the exploits he uses, another emerging tactic has to do with checking for application
vulnerabilities. Many companies spend most of their efforts on signature-based
protection and zero-day patches. Trusteer Apex takes a novel approach because it
analyzes what an application is doing, and why it's doing it, to determine if it's
exposed to threats and block those gaps. If there is an attack, Apex also blocks the
malware from communicating back to the Internet.
Seculert: Big Data Analytics of All
Security Activity
Getting the big picture on a massive
data store is next to impossible. Big data
analytics company Seculert uses the Hadoop
programming framework and Amazon Web
Services to analyze data stores for threats.
This makes for quick, inexpensive
deployment. Data is ingested in massive
quantities and analyzed by botnets in the
cloud, using techniques such as honeypots
and crawlers. If an infection occurs at one
organization, Seculert can alert companies
that might also be in danger.
Conclusion
Computer security attempts to ensure the confidentiality, integrity, and
availability of computing systems and their components. Three principal parts of a
computing system are subject to attacks: hardware, software, and data. These three,
and the communications among them, are susceptible to computer security
vulnerabilities. Hackers could access a system and can devise attacks that exploit the
vulnerabilities. Countermeasures and controls can be applied to the data, the
programs, the system, the physical devices, the communications links, the
environment, and the personnel.
References
1. "Citadel malware continues to deliver Riverton ransom ware...". Internet Crime
Complaint Center (IC3). 30 November 2012.
2. Update: McAfee: Cyber criminals using Android malware and ransom ware the
most". InfoWorld. Retrieved 16 September 2013.
3. "Cryptolocker victims to get files back for free". BBC News. 6 August 2014.
Retrieved 18 August 2014.
4. "FBI says crypto ransomware has raked in >$18 million for cybercriminals". Ars
Technica. Retrieved 25 June 2015.
5. Young, A.; M. Yung (1996). Cryptovirology: extortion-based security threats and
countermeasures. IEEE Symposium on Security and Privacy. pp. 129–140.
doi:10.1109/SECPRI.1996.502676. ISBN 0-8186-7417-2.
6. "Ransomware squeezes users with bogus Windows activation demand". Computer
world. Retrieved 9 March 2012.
7. "Police warn of extortion messages sent in their name". Helsingin Sanomat.
Retrieved 9 March 2012.
8. McMillian, Robert. "Alleged Ransom ware Gang Investigated by Moscow Police".
PC World. Retrieved 10 March 2012.
9. I. Stoica, R. Morris, D. Karger, M. F. Kaashoek, and H. Balakrishnan,
10. ―Chord: A scalable peer-to-peer lookup service for internet applications,‖ in
Proceedings of ACM Sigcomm, 2001.
11. B. Y. Zhao, L. Huang, A. D. J. J. Stribling, S. C. Rhea, and J. D.Kubiatowicz,
―Tapestry: A resilient global-scale overlay for service deployment,‖ IEEE Journal
on Selected Areas in Communications, vol. 22, no. 1, pp. 41–53, Jan. 2004.
S. Senthilkumar
Assistant Professor & Head, Senthamarai College of Arts and Science
ABSTRACT
Over the last two decades, rising internet and mobile phone diffusion has changed the way we
communicate and do business. E-commerce is relatively an innovative concept. Electronic
commerce (e-commerce) as part of the information technology revolution became widely used in
the world trade in general and Indian economy in particular. With innovations in technology,
there have been changes in the methodology for commercial dealings. India is one of speedy
adaptor of technology. Is quickly with the current scenario of electronic data exchanges and has
taken to e-commerce. In view of this, this research paper tries to express the idea of E-commerce
and E-commerce implication in the Indian economy and its Contemporary issue.
Introduction
E-commerce in contemporary eras has been growing rapidly across the global.
According to Report of Digital–Commerce, IAMAI-IMRB (2013), e-commerce industry
in India has witnessed a growth of US$ 3.8 billion in the year 2009 to US$ 9.5 billion
in 2012. Internet was introduced in India in 1995 and the first wave of e‐commerce
started soon thereafter. Total number of internet users in India was 250.2 million in
June 2014. The diffusion of e-commerce is very low compare to developed countries.
However, is developing at a much faster rate. The e-commerce industry consensus is
that growth is at a modulation point. Exclusive in India cash on delivery is a
preferred payment method. India has a vibrant cash economy because of which 80%
of Indian e-commerce tends to be Cash on Delivery. In this context, there is a need to
make a shift towards online payment mechanisms. By the end of 2011, the e-
commerce market in India had clocked close to Rs 50,000 cores. It is interesting to
consider whether the global economic downturn may have negatively affected the
growth of e-commerce or possibly accelerated it as consumers look to new online
channels, which can often deliver greater value than traditional stores. Today, even
though there are less than 10 million internet users who are actually engaging in
e-commerce activities, about 150 million internet users in India or around 75 million
households are ready for e-commerce. The growing reach in terms of internet
connectivity to the interiors of India coupled with the positive experiences of end
consumers when buying online beyond the metros and big cities are key drivers of the
e-commerce boon in India.
Objectives of the Paper
This research paper tries to express the idea of E-commerce and E-commerce
implication in the Indian economy and its Contemporary issue.
Notion of E-Commerce
In broad-spectrum, terms e-commerce is serious deal of goods and services
over internet. E-commerce is the use of information and communication technologies
to advertise and to sell wide range of goods and services. E-commerce is the online
buying and selling of goods and service. Lower search costs in digital markets will
make it easier for buyers to find low-cost sellers, and thus will promote price
competition among sellers.
According to International Fiscal Association (IFA), e-commerce means
commercial transaction in which order is placed electronically and goods or services
are derived in tangible or electronic form and there is an ongoing commercial
relationship. The National Association of software and service companies
(NASSCOM) defines ecommerce to include all ‘transactions where both the offer for
sale and the acceptance of the offer are made electronically.
Components of E-Commerce
E-commerce integrates e-market, e-data inter-change and internet buying and
selling of goods and services. The E-commerce also involves using all round electronic
methods and procedures to conduct business activities to achieve the organizational
goal. It uses different technologies and hugs a wide range of financial forms such as
electronic banking, electronic trading, electronic cataloguing, Video conferencing, and
multi-media communications, electronic data interchange (EDI), electronic mail
(E-mail), facsimile (fax) and all forms of messaging between enterprises. It combines
technologies (Internet, EDI, electronic forms, electronic cash, Barcodes), information
technology standards (such as EDIACT, EAN/UPC), strategies (Just-in-time
inventory management, efficient consumer response).
Kinds of E-Commerce
The bookings done through electronic communication could be Business-
to-Business (B2B) or Business to Consumer (B2C). Business to Business i.e. B2B is
e-commerce between businesses such as between a manufacturer and a wholesaler or
between a wholesaler and a retailer. India‘s first online B2B directory has launched
in 1996. The liberalization of the country‘s international trade policies was the key
factor that accelerated the growth of B2B online portals. It enabled buyers and sellers
to easily connect with their global counterparts. The bookings done electronically
between Business to Consumer for purchase or sale of goods and services is known as
B2C e-commerce. Although B2C e-commerce receives a lot of attention, B2B
transactions far exceed B2C transaction.
Conclusion
There is no unique universally definition of e-commerce. Therefore, there is a
need to clarify terms and explain the context of being applied. E-commerce has
influence on Indian economy and customers. A number of advantages of e commerce
such as cost savings, increased efficiency, customization and global marketplaces.
Internet was introduced in India in 1995 and the first wave of e‐commerce started
soon thereafter. The diffusion of ecommerce is very low compare to developed
countries. However, is developing at a much faster rate.
References
1. ―E-Commerce Due Diligence in India Is Neglected By Investors and Financial
Institutions‖. E-Retailing Laws And
2. ―E-Commerce‖, C.S.V. Murthy- Himalaya Publishing House, New Delhi 2002.
3. ―Internet World Stats‖. Internet World Stats. Retrieved 2013-07-04.
4. ―Online shopping touched new heights in India in 2012‖. Hindustan Times.
31 December 2012. Retrieved 31 December 2012.
5. E-Commerce Guide.Com
6. E-Commerce Times
7. Overview of E-commerce in India.
ABSTRACT
Demonetisation is the act of stripping a currency unit of its status as legal tender.
Demonetization is necessary whenever there is a change of national currency. The prime
objective of this study is to analyse and to list out the effects of demonetization and flaws in its
implementation and discusses about the measures to be taken to avoid such menace to the
financial system and daily life of common human .The effects of demonetisation in economy of
a country like India and its growth and financial report for this fiscal year have been analysed
and represented with statistical data.
Keywords: Demonetisation, cashless transaction, tax evasion, credit.
Introduction
Demonetisation is a process by which a denomination of currency will not be
legal tender. The demonetisation of note will not acceptable as valid currency. The
same things happen with the Rs.500 and Rs.1000 note after demonetisation.
However, this is the first time that Rs 2,000 currency note is being introduced. Bank
notes in Ashoka Pillar watermark series in Rs 10 denomination were issued between
1967 and 1992, Rs 20 in 1972 and 1975, Rs 50 in 1975 and 1981 and Rs 100 between
1967-1979. The banknotes issued during this period contained the symbols
representing science and technology, progress and orientation to Indian art forms. In
the year 1980, the legend Satyameva Jayate — ‗truth alone shall prevail‘ — was
incorporated under the national emblem for the first time. In October 1987, Rs 500
banknote was introduced with the portrait of Mahatma Gandhi and Ashoka Pillar
watermark. Mahatma Gandhi (MG) series banknotes – 1996 were issued in the
denominations of Rs 5, (introduced in November 2001), Rs 10 (June 1996), Rs 20
(August 2001), Rs 50 (March 1997), Rs 100 (June 1996), Rs 500 (October 1997) and Rs
1,000 (November 2000). The Mahatma Gandhi Series – 2005 bank notes were issued
in the denomination of Rs 10, Rs 20, Rs 50, Rs 100, Rs 500 and Rs 1,000 and
contained some additional/new security features as compared to the 1996 MG series.
The Rs 50 and Rs 100 banknotes were issued in August 2005, followed by Rs 500 and
Rs 1,000 denominations in October 2005 and Rs 10 and Rs 20 in April 2006 and
August 2006, respectively.
To understand the effects of these dimensions, it is important to first
understand what it is that cash does in the economy? There are broadly four kinds of
transaction in the economy: accounted transaction, unaccounted transactions, those
that belong to the informal sector and illegal transactions. The first two categories
relate to whether transactions and the corresponding incomes are reported for tax
purposes or not. The third category would consist largely of agents who earn incomes
below the exemption threshold and therefore do not have any tax liabilities.
Causes
There can be many causes of Demonetisation in any economy some of them
are:
Introduction of New Currency, Black Marketing, Currency Storage,
Corruption and others. There will be excess fake currency in the economy is main
reason of demonetisation. On 8th November 2016, Government of India had
announced that from today onward rupees 500 and 1000 rupee note will not be a legal
tender. This means that 500 and 1000 rupee note will be accepted by anyone except
the organisation declared by government. They can change the currency from the
banks and post offices till 30th December 2016.The removal of these 500 and
1000 notes and replacement of the same with new 500 and 2000 Rupee Notes is
expected to – remove black money from the economy as they will be blocked since the
owners will not be in a position to deposit the same in the banks.
Temporarily stall the circulation of large volume of counterfeit currency
It would curb the funding for anti-social elements like smuggling, terrorism,
espionage, etc.
Various Effects
Effects on Money Supply
With the older 500 and 1000 Rupees notes being scrapped, until the new 500 and
2000 Rupees notes get widely circulated in the market, money supply is expected
to reduce in the short run.
To the extent that black money (which is not counterfeit) does not re-enter the
system, reserve money and hence money supply will decrease permanently.
However gradually as the new notes get circulated in the market and the
mismatch gets corrected, money supply will pick up.
Effects on Demand
The overall demand is expected to be affected to an extent. The demand in
following areas is to be impacted particularly:
Consumer goods
Real Estate and Property
Gold and luxury goods
Automobiles (only to a certain limit)
All these mentioned sectors are expected to face certain moderation in demand
from the consumer side, owing to the significant amount of cash transactions
involved in these sectors.
Effect on Prices
Price level is expected to be lowered due to moderation from demand side.
This demand driven fall in prices could be understood as follows:
Consumer goods: Prices are expected to fall only marginally due to moderation in
demand as use of cards and cheques would compensate for some purchases.
Real Estate and Property: Prices in this sector are largely expected to fall,
especially for sales of properties where major part of the transaction is cash
based, rather than based on banks transfer or cheque transactions.
Effect on GDP
The GDP formation could be impacted by this measure, with reduction in the
consumption demand.
However with the recent rise in festival demand is expected to offset this fall in
overall impact.
Moreover, this expected impact on GDP may not be significant as some of this
demand will only be deferred and re-enter the stream once the cash situation
becomes normal.
Conclusion
The Indian government‘s decision to demonetize currency notes of Rs 500 and
Rs 1,000 was necessitated by the increase in difficult-to-tell counterfeit notes and a
desire to curb black income generation as well as eliminating a part of existing
unaccounted wealth held in these high-denomination notes. The authorities‘ intent
and action are indeed praiseworthy but need to be followed up with subsequent
actions to remain effective. These actions relate mainly to structural changes to make
N. Aishwarya
Research Scholar, Madurai Kamaraj University, Madurai
ABSTRACT
As global business competition shifts from efficiency to innovation and from enlargement of
scale to creation of value, management needs to be oriented towards the Strategic use of human
resources. Human Resource Management needs much effort or skill to accomplish for their
survival which is important to address with the changing nature of organizations.
The organizational success earlier depended on physical and financial assets, today the success
solely rely on the intangible ability and capability that lie in the human capital and manifested
in the form of competencies. Human capital is the most valuable asset in the current era and
companies are thriving for performance through developing their employee‟s competencies.
Competency is the ability of an individual to perform a job properly. Competency mapping
becomes confusing for most of the organizations because of various models and competencies
available. Competencies provide standard roadmap for effective and efficient performance.
Successful competency management in organizations ensures that employees can execute the
company business plan, and guide the way in organizational challenges of skill readiness, skill
shortages and leadership. Every well-managed firm should have well defined roles and
responsibilities and list of competencies required to perform each role effectively. Such list
should be used for the functions of Human Resources (HR) such as recruitment, performance
management, training, succession planning and compensation. This paper focuses on the
fundamentals of Competency mapping which is a new dimension of management in the
globalized era. This paper also brings out the current practices used by organizations which
have successfully integrated competency-based systems in their Human Resource initiatives.
Keywords: Competency mapping, Performance, Competence, Evaluation, Competent,
Competitive advantage, Skill, Learning & Development, Attitude.
Introduction
In the era of globalization, Competition among organizations has taken a new
leap. To stay ahead of the competitors, organizations are reviving themselves with
new technologies, methods and HR practices. Some of the factors driving competition
in the world are Technology development, new startups, educated workforce, demand
for quality and entry of big companies to social media. The major issues for
organizations in recent years are attracting top talent, retaining key employees,
ensuring that skills are available to meet the future challenges, aligning cross
organizational teams to get products to the market faster and also aligning people‘s
behavior with organizational values and strategy. The performance of companies
depends mostly on the quality of their human resource. For obvious economic and
business reasons, organizations have always been concerned about the competence of
its people. In a recent Times now interview with ArnabGoswami, Dr Abdul Kalam
said ―Students must become ‗Employment Generators‘ rather than ‗Employment
Seekers‘‖, hence the performance of an individual also matters much in the society.
Every organization in the world appreciates talent, knowledge and hard work.
They continually put in efforts to develop their workforce to become competitive.
There is an intense focus on performance which can only be achieved by investing in
competent workforce. Everyone desires performance. What Bill gates1has remarked
on Microsoft‘s need to perform consistently to remain successful and relevant in the
new economy, applies to all organizations. Human resource is a collection of
knowledge, skills, creativity, talents and aptitudes of an organizations workforce, as
well as the value, attitudes and beliefs of the individuals involved. Organizations
concentrate on getting the people who can make an organization success driven; they
constantly thrive to enable those people to acquire required capabilities to make a
successful organization. Also organizations spend crores of money every year to
motivate their employees to contribute their resources continuously for running the
organization effectively.Forbes article2 on Feb 2014 states that US spending on
corporate training grew by 15 percent in 2013 (the highest growth rate in seven
years) to over 70 Billion dollar in the US and over 130 Billion dollar worldwide.
The key facts on the study are spending on leadership development remains very
high, High-performing companies spend more and Technology is revolutionizing this
market. While skills gaps continue to challenge companies, an increased investment
in training is good for everyone: employees, businesses, and job seekers. This level of
increase shows that businesses are aggressively expanding and companies need
skilled workers to grow.
Hence motivating and preparing for future becomes important for
organizations. In managing the human capital and getting the best out of them,
competency mapping comes in rescue. To make optimum utilization of the existing
workforce, organizations are trying to fit the right people in the right job, which
becomes tedious when there is no developed framework to carry out the process.
Top management has been identifying corporate core competencies and has been
working to establish them throughout the organization. Human Resource
Development (HRD) in India builds competency-based models that drive business
results for organizations.
1
http://fundersandfounders.com/how-bill-gates-started/
2
http://www.forbes.com/sites/joshbersin/2014/02/04/the-recovery-arrives-corporate-training-spend-skyrockets/
emotional intelligence, and the like. In the recent years, various academicians in the
area of strategic management have emphasized the need to identify the competencies
a business requires, in order to operate effectively in a given competitive
environment. Competencies provide a way to observe and measure key skills and
behaviors of employees and segregate their abilities that serve as a guideline for
enhancing the job performance in an organization. Competency required for a
particular job depends on many factors that include social culture, nature of the
business, external business environment, organizational culture, work environment,
duties and responsibility, nature of work processes and designated activities, attitude
and motive of colleagues, superior and subordinates. Some of these factors may
change with time and thus changing competency requirements for the same job
position in the organization3. Unlike other resources, human being is the most
valuable asset that can appreciate useful inputs. It is one such asset that adds value
to itself with respect to time. And therefore it is considered as a resource that can be
cultivated by the manure of training and development. Competencies can provide the
logic for designing an organization that will enable human resources to continually
add value to its firm.
The organizations that understand and succeed in Competency management
will be leaders in competition of scarce talent and be viewed as employers of choice.
To be competent, any individual would need to identify and understand the situation
in reality and have a repository of possible and eventful actions to take and have
training and expertise in those actions in the repository. Regardless of training,
employees‘ competency would grow through their experience in the job and the
willingness he\she exhibits to learn or adapt to new situations.
Manner of behaviour
Standard attained
3
http://www.ijern.com/images/January-2013/c-04.pdf
mapping is like a diagnostic tool. The major difference between the Traditional job
analysis approach and competency mapping approach are job analysis leads to a long
list of tasks and the skills/knowledge required to perform each task, whereas
competency leads to a distilled set of underlying personal characteristics. Data
generation is done from Incumbents and subject matter experts in job analysis
approach whereas outstanding performers are also included in the competency
approach.
As the competency framework serves like bedrock for all Human Resource
applications, Competency mapping has emerged as a crucial function in the present
era. It is a process of identifying key competencies for an organization and the jobs,
functions and scope of its activities. The competency mapping is not a cut and dry
formula or like one-size-fits all; it has to be specific, that is, tailor made or customized
for each organization. Each organization must understand their type of industry well
and built the competency models accordingly. It is better to go for existing research
based models but the organization should also create its own model using methods
such as Behavioral Event Interview, critical incident or job description methods.
The competency model created should reflect the organization‘s strategy, market
position, clients and its values and ethics. It will be most prudent to start with small
discrete groups or teams, ideally with two dimensions -a horizontal segment across
the business encompassing multi-functional or multi-location activities, matching
with the organizational level, and a vertical segment, that is, a whole department.
This enables the organization to learn about the process and know the probable
alternative formats of models best suited for its needs. It is desirable to focus on one
or two key areas of implementation rather than the whole gamut of Human Resource
Management (HRM) in one gulp. Example - Beginning with recruitment and
selection or succession planning if they are the main strategic needs of the business.
Further, it is advisable to begin with a horizontal segment or senior-most team so
that the benefits will percolate downward the entire organization.
There are various competencies expected from an employee in organization
which include Initiative taking, Strategic Thinking, Business Acumen, Relationship
Building, Teamwork, Cooperation and Collaboration, Communication, Strategic
Thinking Problem Solving and Decision Making and the like. Competencies for each
job vary accordingly starting from the organization type. They may vary within
departments, designations, jobs and individuals. Competencies are allocated with a
different weightage for each job. Hence organizations assess the skills of the
employee and help them to develop the competencies which are mandatory for their
job role.
4
Velayudhan TK 2009, ‘A study on Mapping Core Competencies and development of Employees for Excellence with reference to HCL
Technologies 2009’ Journal of contemporary research in management
b) Key performance areas and key result areas can be identified and improved upon
by understanding the gaps between existing performance and desired results.
c) Focused individual development can be carried out in the organization by
identifying the needs and wants of the individual for his career development.
d) Competencies required for each job role can be identified and developed and
training can be provided according to the individual‘s requirements.
e) Competency assessment gets extended to individuals, teams and organization and
leads to continuous development of the organization
f) A Competency based culture in the organization can be created.
Conclusion
Competency mapping is emerging as a modern HRM tool for the professionally
managed organizations and can provide a competitive edge to the top brass for
organizational development, optimum utilization of various resources including HR,
increasing the production and productivity without compromising on the details and
quality to ensure satisfaction of end users of the products and services. The concept of
mapping competencies and creating talent factories is not only beneficial to the
individual, but to the organization as a whole. Companies do face resistance while
introducing a competency framework, as some employees tend to perceive it as a
threat to their careers; but involving the employees in designing the model eliminates
their apprehensions. To survive in a turbulent and dynamic business environment
organizations have to adopt competency based human resource management
practices, which are vital to productivity and performance excellence.
References
Books:
1. Sahu R.K (2009), Competency Mapping, Edition 1, New Delhi, Excel Books.
2. SanghiSeema(2007), The Handbook of Competency Mapping Understanding,
Designing and Implementing Competency Models in Organizations. New Delhi,
SAGE publications.
Periodicals
1. Bindu P Hima (2012), ―Role of HR in Business Excellence Competency Mapping
as a Tool in Business Excellence in Selected PSU – A Case Study‖, International
Journal of Social Sciences and Interdisciplinary Research, Vol. 1, No. 2.
2. Boyatis, Richard B. (1982). ―The Competent Manager: A Model for Effective
Performance”, New Age International (P) Limited, New Delhi.
3. McClelland, David (1973), ―Talent and Society, Achievement Motive,
The Achieving Society, Motivating Economic Achievement and Power The Inner
Experience", American Psychologist.
4. Naqvi, Farah (January 2009), ―Competency Mapping and Managing Talent.‖
ICFAI Journal of Management Research, Vol. 8 Issue 1, p.10.