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FII and its impact on exchange rate in India
Asian Journal of Research in Banking and Finance, Vol. 7, Issue 1, pp. 1-27, ISSN No. 2249-7323 -
Filamentous fungi for pharmaceutical compounds degradation in the environment: A sustainable approach
Pharmaceutical compounds play an important role in enhancing the quality of human life. They substantially increase the life expectancy of humans and the well-being of livestock. The expansion in the global human population has increased the usage of pharmaceuticals in an enormous way. This has led to the emergence of pharmaceutical compounds as environmental pollutants because these components are continuously released to various water sources and terrestrial ecosystems. The pharmaceutical components are released during their synthesis, as waste from human and veterinary healthcare sectors, and dumping of drugs that are not used. Pharmaceutical components are known to persist in their potential even at lower concentrations and can create serious issues for ecosystems, especially aquatic systems. Various efforts are being made to remove or reduce the toxicity of pharmaceutical components in aquatic systems. Bioremediation using fungi is one of the most secure and sustainable ways of decontaminating polluted environments. With their strong morphology and diverse metabolic abilities, Fungi employ different methods including fungal enzymes to clear pollutants. Studies have proven that fungi and fungal enzymes can transform these pharmaceutical compounds into less toxic components. This review highlights the role of fungi in the bioremediation of pharmaceutical compounds. 2023 The Author(s) -
Financial access indicators of financial inclusion: A comparative analysis of SAARC countries
Financial inclusion provides access to formal financial services at reasonable cost to the financially excluded people. Financial inclusion has been one of the most sought after topics in recent times for policy makers, researchers and academicians. Definition of financial inclusion varies from region to region. Financial inclusion is measured using different indicator. The important indicators of financial inclusion measurement include access indicators, usage indicators, quality indicators and financial education indicators. Most of the researchers use access indicators and usage indicators to measure financial inclusion. Access indicators comprise of demographic and geographic branch penetration, demographic and geographic ATM penetration and population per branch. This study focuses on comparative analysis of access indicators of financial inclusion in SAARC countries. The study is based on secondary data available in the central banks of SAARC nations, International Monetary Fund, World Bank and Asian Development Bank. The study has found and analysed about the countries which has performed well in each indicator of financial access. Copyright 2020 Inderscience Enterprises Ltd. -
Financial access indicators of financial inclusion: A comparative analysis of SAARC countries /
International Journal Intelligent Enterprise, Vol.7, Issue 1/2/3, pp.28-36 -
Financial behavior of IT professionals: A case study of Bengaluru city /
Al-Barkaat Journal of Finance & Management, Vol.8, Issue 2, pp.19-31, ISSN: 0974-7281 (Print), 2229-4503 (Online). -
Financial capability and financial wellbeing of women in community-based organizations: mediating role of decision-making ability
Purpose: Financial capability is considered to be an important concept that has drawn the attention of many world nations. While the literature suggests various studies on financial capability and financial wellbeing, focus on their combined significance has been limited. The purpose of this paper is to examine how financial capability affects the financial wellbeing of women in community-based organizations and how decision-making ability mediated this relationship. Design/methodology/approach: In total, 1,000 women who are associated with the community-based organization Kudumbashree in the state of Kerala, India participated in the survey-based study. Findings: The structural equation modelling results show that there exists a significant relationship between financial capability and the financial wellbeing of women in CBOs. Further, decision-making ability was identified as a significant mediator in this relationship thus establishing a partial mediation effect. Practical implications: The financial social workers can focus their activities on promoting financial capability and decision making aspects of women from middle/low income families to facilitate their financial wellbeing. The scope for financial socialisation and proper orientation is more for the women associated with the community based organisations. This opportunity can be made use by the government authorities and other practitioners to change their financial outlook and contribute towards the empowerment of these women from the grass root level. Originality/value: The studies related to financial literacy and financial inclusion are available in the Indian context, but the conceptualization of financial capability is still an under-researched area in India. Hence, this study is an attempt to explain the capability-wellbeing relationship from a financial point of view in the Indian context, and further establishes its connection with the individual's decision-making ability. To strengthen the research base, the study was conducted among the women in the community-based organization who belong to middle and low-income families. 2022, Emerald Publishing Limited. -
Financial Development Convergence: Evidence from Top and Bottom Globalised Developing Economies
This paper investigates the pattern of the financial development convergence for the top (Europe and Central Asia) and the bottom (South Asia) globalized developing regions from 1984 to 2016. We employ the Philips-Sul club convergence approach to measure the financial development convergences speed. The results validate the convergence of financial development in all countries, including the top and bottom of globalized developing regions. Interestingly, the speed of financial development convergence is less in the bottom globalized developing region than in the top globalized developing region. However, these results vary across developing regions in the case of financial institutions and financial markets. Therefore, solid financial market governance can provide a productive and efficient financial system, particularly in the bottom globalized economies. 2023 The Author(s). Published with license by Taylor & Francis Group, LLC. -
Financial Distress and Value Premium using Altman Revised Z-score Model
In the stock market, investors and value managers desire to be safe. Estimating equity returns and evaluating potential financial distress risk are essential for investment and trading decisions. The link between distress risk and stock return is controversial, and current literature yields contradicting results. A variety of models may be used to evaluate distress risk-return trade-offs. This paper employs a revised Altman Z-score to examine financial distress and value premiums. Using univariate and multivariate techniques, we examine firm- and industry-level portfolio returns, encompassing all Indian companies listed on the Bombay Stock Exchange (BSE). Results confirm the existence of the distress factor effect found in industry and firm-level portfolios. It shows that the distress risk factor significantly determines stock returns as an independent systematic risk factor. This result is consistently found in most industries. The study demonstrates the existence of a value premium in both distressed and safe zones. The study also used a multivariate GRS test and the Fama-Macbeth procedure to validate the reliability of the distress factor and pricing models. Results confirm that Altman model-based distress factor augmented models improve the performance of existing pricing models with higher reliability and accuracy. 2023 MDI. -
Financial Inclusion and Human Development in Indian States: Evidence from the Post-Liberalisation Periods
This article examines the existing synergy between financial inclusion and human development in Indian states during the post-liberalisation periods (19932015). Using both principal component analysis and panel data regression models, first, the impact of financial inclusion on human development is measured. Second, the reverse causality from human development to financial inclusion is estimated to know whether human development should be a pre-condition for ensuring greater financial inclusiveness in Indian states. It is found that financial inclusion has a positive and statistically significant impact on human development, along with other control variables such as social sector expenditure, per capita state gross domestic product and capital receipt. However, the lack of urbanisation (measured by the percentage of rural population) has a negative and significant impact on the process of human development in Indian states. On the other hand, since human development has also a significant reverse causal connection with financial inclusion, it is argued that ensuring financial inclusion through urbanisation measures would not only improve the level of human development in Indian states, but it would also sustain the process of inclusive development in itself due to the existing feedback loop with the later. 2022 Institute for Human Development. -
Financial inclusion and poverty alleviation: The alternative state-led microfinance model of Kudumbashree in Kerala, India
The study examines the microfinance and microenterprise model of Kudumbashree, the state poverty eradication mission of Kerala, and its impact on poverty alleviation in the state of Kerala in India. Kudumbashree's method of identification of the poor is seen to be superior to the conventional head count ratio as it captures the multidimensional characteristics of poverty leading to lesser chances of exclusion of vulnerable families. The microenterprise-linked microfinance model of Kudumbashree has established itself as an effective model linking the state, community, and financial organizations, differentiating itself from other NABARD-led self-help group (SHG) programmes or the Grameena model of microfinance institutions in the country. The fundamental idea of local economic development on which the microenterprise business is built is, however, not free from limitations. Heavy reliance on local markets for procuring inputs and selling outputs makes the products less competitive, questioning the sustainability of a business-led model in the absence of state subsidy in the longer run. Copyright 2014 Practical Action Publishing. -
Financial inclusion in IndiaA progress and challenges
The term Financial Inclusion means the process of access to appropriate financial products and services needed by all sections of society including vulnerable groups such as weaker section and low-income at an affordable cost. It has been a very big challenge for the developing countries for including the people into the financial system. Financial inclusion is emerging as a new paradigm of economic growth that plays major role in driving away the poverty from the country. Financial inclusion is important priority of the country in terms of economic growth and advancement of society. Globally, the financial inclusion is on the rise and from 2014-2017, 515 million adults opened an account with bank and there has been a significant increase in the use of mobile Phones and internet to conduct financial transaction. There was a commendable increase in the financial inclusion and this is predominantly driven by India. Through government initiatives and indicatives taken by the RBI, weaker sections of society and economically poor people were able to access to financial products, services, credit etc. The basic variables for measuring the financial inclusion are bank penetration, credit penetration, number of accounts opened etc. So the present study aims to investigate the progress of financial Inclusion in India through the initiatives taken by the Government of India(GOI) and Reserve Bank of India (RBI). 2019 SERSC. -
Financial inclusion of rural sector: Imperative for sustainable economic growth of India
This research paper aimed to take a look on the present status of financial inclusion in the Indian economy, especially in the rural sector. It also suggested few measures to be taken by the government and banking sector to enhance the inclusion of deprived sections of our country in the financial ecosystem. The data was collected from various secondary sources to depict the present level of financial inclusion, primarily after the implementation of various government policies. The suggested measures mainly included financial literacy and awareness campaign to be implemented at the grass root level along with a robust infrastructure to increase the telephone and internet connectivity in the rural sector. The researchers also analysed that the financial inclusion of the rural sector is imperative for the sustainable economic growth of an agricultural driven economy like India. 2021 Ecological Society of India. All rights reserved. -
Financial management analysis of dividend policy pursued by selected Indian manufacturing companies /
Journal of Financial Management and Analysis, Vol.27, Issue 1, pp.223-229 -
Financial stress, financial literacy, and financial insecurity in India's informal sector during COVID-19
The lockdowns and restrictions imposed to control COVID-19 have made life miserable for people, especially those involved in informal economic activities. The pandemic induced financial hardships, caused financial anxiety and financial stress among informal sector participants. This study aimed to measure and analyze the financial stress and financial insecurity of one of the important informal sector elements (street vendors) in India. Street vendors in Bangalore were interviewed in this descriptive research through personal interaction and telephonic interviews. The collected primary data were processed using SPSS statistical package. The results have indicated that the pandemic inflicted financial stress on street vendors irrespective of their gender, marital status, age, education, monthly income, and type of product dealt. Financial stress levels varied depending on the number of dependents of street vendors and their business nature. Financial literacy differed according to street vendors' marital status. A person becomes extremely sensitive and cautious in personal finance matters on getting married. Financial stress and financial literacy correlated negatively. 89.5% of street vendors perceived that they had financial insecurity in the future due to this pandemic. The results indicated that financial stress and financial literacy did not affect financial insecurity perceptions of street vendors. The predictors of financial insecurity have been marital status and the number of dependents of the street vendors (r2: 16.6%). However, marital status alone impacted the 6% variance in financial insecurity. This study concluded that the pandemic caused financial stress and financial insecurity among street vendors, but not financial stress and financial literacy. Thangaraj Ravikumar, Mali Sriram, S Girish, R Anuradha, M Gnanendra, 2022. -
Financial well-being A Generation Z perspective using a Structural Equation Modeling approach
The current pandemic situation in the global economy has urged the need to revolutionize the financial services industry with a keen eye on consumers financial needs for sound financial decisions, which is necessary for financial well-being. The purpose of the study is to assess the financial well-being of Indian Gen Z students in relation to financial literacy, financial fragility, financial behavior, and financial technology. In addition, the study also tries to determine how Gen Z students financial well-being is influenced by other factors such as gender, age, parental education, employment status, and monthly income in India. The study uses the scientific data analysis approach, Partial Least Squares-SEM model to estimate, predict, and assess the hypotheses. A sample of 271 University students from India was surveyed using a self-administered structured questionnaire. Questions were incorporated to understand the effect of financial literacy, technology, fragility, behavior, demographic and parental characteristics on financial well-being. The results indicate that financial behavior is positively related to financial well-being, while financial fragility is negatively associated. However, financial literacy and financial technology do not significantly affect financial well-being. The results also show that financial well-being is significantly influenced by gender, parental education, employment status, and monthly income change. Understanding Indian Gen Z student financial well-being will expand the students understanding of the importance of financial literacy for well-planned financial behavior and informed decisions, hence high levels of financial well-being. Government and financial institutions can more effectively identify gaps and deficiencies in student financial well-being. 2022 LLC CPC Business Perspectives. All rights reserved. -
Finding balance in a digital world: Equanimity as a predictor of nomophobia
The present study examined the relationship between equanimity and nomophobia. The study also examined the differences in experience of nomophobia considering gender, education and employment status. The sample included 216 emerging adults (M = 64, F = 152) from across India. The Equanimity Scale 16 and the Nomophobia Questionnaire were used to measure equanimity and nomophobia, respectively. Mann-Whitney-U test and Rank-Biserial coefficient indicated that gender differences significantly affected the losing connectedness factor of nomophobia. Correlation analysis showed that equanimity had a significant negative relationship with nomophobia and its factors- not being able to access information, giving up convenience and losing connectedness. Regression analysis showed equanimity as a significant predictor of nomophobia. The studys findings hold potential implications for equanimity-based interventions for nomophobia and individual well-being, technological design improvements in the digital age and unfolds areas for future research. 2024 Taylor & Francis Group, LLC. -
Finite Element Analysis of Hybrid Skin Sandwich Composite
Sandwich structured composite is a particular classification in composite materials. This type of structure has been mainly used in recent studies because of its high specific strength, low density, and stiffness. It is increasingly more commonly employed in structural designs due to its features and performance. The sandwich composites used in this investigation are made of aluminium alloys and areca fibre. The sandwich composites face sheet comes in a variety of thicknesses. The adhesive skin layer is also varied to investigate the effect of using natural fibre. The sandwich composite is subjected to 3 point bend test. The modal analysis is investigated using the finite element method. The 3D model of sandwich composites is modelled using solid works 2020. Using Altair Hyper Works, the boundary conditions and meshing is carried out. ANSYS Mechanical APDL is used to analyse the sandwich composites. This investigation analyses the behaviour of composite sandwich beams. 2022, Books and Journals Private Ltd.. All rights reserved. -
FinTech and Financial Capability, What Do We Know and What We Do Not Know: A Scoping Review
Purpose: The scoping review of this study was to investigate the existing literature on FinTech's impact on financial competence and draw conclusions from it. We applied Danielle Levac's recommendations and used the scoping review framework developed by Arksey and O'Malley. Design/Methodology/Approach: The study involved identifying and analyzing 246 papers from major databases, followed by a rigorous screening process to select 54 relevant studies. Data coding, inclusion, and exclusion screening were conducted by us independently. Findings: According to the findings, studies on FinTech and financial capacity started in 2012, and since 2020, the number of studies has sharply increased. The analysis showed that financial inclusion was the primary focus of the major FinTech studies, suggesting possible research gaps in other aspects of financial competence. We suggested recommendations and prospective directions for further research in this developing subject based on these findings. Managerial Implications: This knowledge will help managers find opportunities for collaboration, offer fresh perspectives, and make wise choices, which will improve the sector. Theoretical Implications: Important concepts and relationships were found, new trends were highlighted, and theoretical advancements were suggested as a result of the inquiry. Through the filling of knowledge gaps, the study would guide future theoretical development, facilitate diverse perspectives, and support the construction of robust frameworks in the FinTech and financial capabilities sector. Originality/Value: This study offered a comprehensive review of the body of literature, pointing out areas in need of more research and knowledge gaps. The review's unique perspective for future study and innovation in understanding the relationship between FinTech and financial capacity is derived from its thorough synthesis of many studies. 2023, Associated Management Consultants Pvt. Ltd. All rights reserved. -
Fintech Innovations in the Financial Service Industry
Digital transformation underscored by the fourth industrial revolution has led to the emergence of sophisticated technology-enabled financial services known as fintech, that has swiftly altered traditional financial services space. Global adoption of fintech is rapidly increasing due to its disruptive nature and is largely embraced by participants who are underserved by traditional financial service providers. Global investments in fintech are growing rapidly year by year owing to increased interconnectivity with the digital revolution. Fintech is expansive, engulfing a plethora of innovative applications in various services including payments, financing, asset management, insurance, etc. There exists a gap in the literature and visualization research on impact and future pathway of fintech innovations in payments and financial services and role of financial regulations. This study aims to enrich the understanding of fintech innovations in payments and financing and investigate the correlation and significance of regulatory framework in maintaining a fair ecosystem. With this objective, an extant systematic review was performed using research articles published in peer-reviewed journals for the period 20142022 when there has been a burgeoning of interest in fintech globally. The findings of this study contribute to the theoretical constructs of fintech innovations in the financial services industry and show that such innovations play a crucial role in shaping the nature of future of business. The results of this study have implications for researchers who could deploy this research as a reference point to get a holistic insight and a detailed mapping of innovations in fintech. 2022 by the authors. Licensee MDPI, Basel, Switzerland. -
First Order Derivative Spectrophotometric Determination of Thorium in Geological Samples Using Diacetylmonoxime p-hydroxybenzoylhydrazone
Mapana Journal of Sciences, Vol-12 (1), pp. 15-30.