IOSR-JEF   7th International Business Research Conference

Abstract: A large segment of the world's population fall below the poverty line; and it is this vulnerable group which has low/no income who are excluded from most of the basic financial services provided by the financial sector. Including them into the main economic stream has been the focus of Governments and financial institutions in the last couple of decades. This results in a win-win situation as it raises the standard of living of the masses on the one hand and it helps to promote economic development and stimulates inclusive growth on the other. This paper attempts to study the initiatives adopted by the Indian commercial Banks in terms of technology, distribution channels, and proposals for financial education of the unbanked masses with the aim to benefit the banks who have not yet implemented any of the initiatives. Further, the benefits will also automatically extend to the general public to create awareness regarding the procedure which is to be undertaken to avail the facilities offered by banks as a result of financial inclusion and to widen the horizon of banks by including the unbanked masses. The preliminary objective of this paper is to identify the strategies adopted by Syndicate Bank, Mangalore District in banked areas so as to study the possibilities of extending it to Kotekar an unbanked area in Mangalore District. Primary data will be collected by means of a questionnaire to explore the potential predictors of financial inclusion inareas that are geographically excluded from the financial mainstream. The study will focus on the relationship among the demographic variables and its impact on financial inclusion. The findings of the paper will reveal vital insight to both banks and policy makers for successful implementation of the 'policy of financial inclusion for sustainable growth of Indian economy'
Key words: Inclusive growth, financial institutions, financial literacy, unbanked masses

Abstract: When we think of South Africa and Mauritius, we consider that these are African markets. However besides being African Markets these markets have a large Indian population. 68% of Mauritius population comprises of people of Indian origin. Also one of the largest number of Indians living outside India are in South Africa. Indians often look up to the Western world and imitate their latest trends but many countries like South Africa, Mauritius look up to India and follow Indian trends. When the present researcher visited South Africa and Mauritius he observed that a large segment of the population in both these countries are Indians and although many of these Indians have not visited India they still maintain the social, cultural and religious identity as Indians. Indians in South Africa and Mauritius are descendants of migrants from colonial India. They went to these countries as Slaves or Indentured labourer's to work on the Sugarcane plantations, during late 19th-century through early 20th-century. Later on slavery was abolished and these hardworking Indians slowly and gradually prospered. Indians now in both these countries are hardworking, educated, successful and prosperous. The next thought that came to the researchers mind was to do research on these Indians and publish a paper for the benefit of theSociety.
Key Words : Emerging Indian Markets

Abstract: We study the long-run and short-run dynamics of stock prices and exchange rates in energy sector. The exogenous shocks and its impact on these markets are studied with Johansen (1991) co integration test and unit root tests. We apply the unit root test to find out the unity among the market price and shares traded in energy sector from 2004 to 2013. The result suggests that stock and foreign exchange markets are positively related to volume of the shares and share traded on the period .The average deviation between the volume and shares traded is 11.84 percentages .Finally, through the application of recursive estimation the result shows that the financial crisis had a temporary effect on the long-run co movement of these markets.
Keywords: Stock markets, Foreign exchange markets, Capital market integration, financial crisis, Energy sector.

Abstract: Information Technological changes have brought in a vertical and not so subtle products in Banking. There has been a radical shift from mass Banking to Class banking thereby bringing a total change in the face of Banking . .According to RBI, the major driving force behind the technological up gradation & transformations in the Indian banking sector has been the financial sector reforms of the nineties, opening up of the economy and globalization. Moreover, arrival of foreign and private banks with their superior state-of-theart technology has led to growing competition in the sector. This has brought in a win – win catch situation between Bankers and Customers . The computerization and use of technology in banks has helped in a number of ways. Minimized costs of operation, Minimized transaction costs for customers, improved customer services, overall efficiency, and improved front end are examples of such outcomes. This has brought in widening the gap between marginal benefits and costs in the technological enabled Indian Banking set up. The authors have attempted to expound the scope of innovation and the paradigm shifts taking place in RTGS, M- banking, NEFT, EFT, ECS have made significant move in payment systems through electronic mode. The authors have studied Volume of RTGS & Mobile transactions for the years 2011 to 2013 for 14 chosen banks - seven each in private and public banks by applying Shapiro-Wilk Test of normality and NEFT/ RTGS, paired T tests and have concluded that by increasing cost of building brick-and-mortar branches, decreasing cost of computers, high delivery costs and slow revenue growth force a relook at the conventional delivery systems in the Indian Banking system. The new strategy changes the focus of the branch from being a high cost transaction centre to a provider of a wide range of services like tele-banking, customer service kiosks, ATMs, and remote electronic banking.

Abstract: We always read that most mergers and acquisition fail to meet the objectives for which they were initially set up.
Despite the best intentions, many M&A deals fall short to live up to the expectations that the management promised to
the shareholders at the time of approval for the deal. Many a times the acquirer is left thinking at the end of a few years
after the acquisition was it the right deal? Why are we not able to meet the shareholder targets set at the time of
purchase of the target? And so on.

Abstract: The Quantitative easing programme by US Federal Reserve though seems to be a liquidity injecting stimulus programme, has been seen in the recent times to create panic among the investors throughout India and other emerging economies. The impact of US Federal Reserve proposing to withdraw its liquidity programme was observed on May 22nd, 2013. It is a clearly seen phenomenon that the impact of these meetings have been seen to have a profound impact and awaited very keenly by the investing community. Thus a need was felt to study the impact of Federal Reserve meeting in the year 2013 on the stock markets. For the study, fifteen 15 indices listed on Mumbai stock exchange were considered. 105 Event study methodology and parametric ttests were conducted to analyse the impact of the Federal Reserve meeting on the indices and exchange rates. We observe that emerging economies mainly Indian markets are highly integrated with the global markets especially U.S markets in the recent times when compared to few years back. This study thus forecasts the real influence of complete withdrawal of the Federal Reserve quantitative easing on the emerging economies.
Keywords: Federal Reserve, Quantitative easing, Liquidity, Stock markets, Forex markets, Event Study

Abstract: Current Account is an important component of Balance of Payment which represents country's foreign transactions. A Current Account Deficit indicates negative sales abroad. A country undergoing Current Account Deficit results into foreign liabilities and debts with rest of world. This further leads to payback of valuable foreign exchange reserves. Substantial amount of foreign exchange are spent on paying out these debts. One important drawback of increasing external debt is decline in value of nation's domestic currency. Payment of foreign debts results in increase in demand of foreign currencies. This leads to devaluation of domestic currency and thus, enhances problems of foreign exchange crises. There are various factors which influence country's External Borrowings as well as Foreign Exchange Rates. One such important factor is Current Account (Trade Balance) Deficit. There is a need to study the impact of Current Account Deficit of India on its External Borrowings as well as on Foreign Exchange Rates. The present study tries to study trend of India's Current Account Balance and External Debt of India over a period of two decades i.e. from 1990 – 91 to 2012 –13. Study also covers analysis of components of India's Total External Debt that includes long term debt and short term debt. Finally, study determines correlation between India's Current Account Balance with External Debt, its components, and selected Foreign Exchange Rates that includes US Dollar, Pound Sterling, Japanese Yen & Euro Dollar.
Key Words: Current Account Deficit, External Borrowings, Foreign Exchange Rates

Abstract: Mutual Funds provide a platform for a common investor to participate in the Indian capital market with professional fund management irrespective of the amount invested. The Indian mutual fund industry is growing rapidly and this is reflected in the increase in Assets under management of various fund houses. Mutual fund investment is less risky than directly investing in stocks and is therefore a safer option for risk averse investors. Monthly Income Plan funds offer monthly returns and invest majorly in debt oriented instruments with little exposure to equity. However it has been observed that most of the investors are not aware of the benefits of investment in mutual funds. This is reflected from the study conducted in this research paper. This paper makes an attempt to identify various factors affecting perception of investors regarding investment in Mutual funds. The findings will help mutual fund companies to identify the areas required for improvement in order to create greater awareness among investors regarding investment in mutual funds

Abstract: A Mutual Fund is a trust that pools the savings of a number of investors who share a common financial goal. The money thus collected is invested by the fund manager in different types of securities depending upon the objective of the scheme. These could range from shares to debentures to money market instruments. The income earned through these investments and the capital appreciations realized by the schemes are shared by its unit holders in proportion to the number of units owned by them. Thus a mutual fund is the most suitable investment for the common person as it offers an opportunity to invest in a diversified, professionally managed basket of securities at a relatively low cost. Since small investors generally do not have adequate time, knowledge, experience & resources for directly accessing the capital market, they have to rely on an intermediary, which undertakes informed investment decisions & provides consequential benefits of professional expertise. The present study is aimed to examine the performance of equity schemes of mutual funds on the basis of selectivity and market timing abilities of fund managers in security market. Mutual funds cannot guarantee a fixed rate of return. It depends on the market condition. If a particular scheme is performing well then more return can be expected. It also depends on the fund managers' expertise and knowledge. Market timing skills relate to the ability of fund managers to correctly assess the direction of the market and position their portfolio accordingly. Selectivity skills refer to the capabilities of fund managers in generating superior performance by means of stock selection techniques. The study which is based on the Jenson Measure and Treynor-Mazuy Model, evaluates which equity fund entails selectivity and market timing over a period of 10 years.
Keywords: Mutual Fund, Selectivity, Market Timing Abilities, Performance Evaluation.