1.Impact of monetary policy of India with special reference to CRR, Repo & Reverse Repo Rate in Curbing Inflation – An Econometric Study

Vikram K. Joshi, Assistant Professor, Dr Ambedkar Institute of Management Studies and Research,
Nagpur (Maharashtra)


In the recent past, the thrust of the monetary policy of India was on reducing the annual inflation rate. During the year 2009 to 2011, the inflation in India has crossed historical records and reached to unprecedented levels, and lying in the range of 9 – 14 %. The monetary authorities are striving hard to curb the inflation by adopting several monetary policy measures, the important amongst which are changes in CRR, repo and reverse repo rate, which directly influence the money supply in the market with immediate effect without creating any distortions in the economy. In this paper the econometric study of impact of changes in CRR, repo rate and reverse repo rate adopted by the monetary authorities in curbing inflation is carried out and the model is formulated to evaluate the various alternatives to suggest the suitable policy based on the existing market scenario which can be implemented to curb the existing level of inflation.Full_paper-180x28

2. Multivariate Analysis on Stress and its influence on Individual’s Heavy Drinking, Perceived Health and Perceived Life Satisfaction

Kamakshaiah Musunuru,
Assistant Professor, Faculty of Management, Symbiosis Centre for Distance Learning,
Pune (Maharashtra)


Stress is prevalent in life which might determine both mental and physical health of individual in particular and society in general. There are abundant of theories that attempt to find various causes or triggers of stress while bringing emphasis on both stressors and respective coping strategies. There are also theories which explain stress in terms of body-mind complex, cognition, sociology and etc. One of the major factors which is affected by stress is perhaps health. Stress, when mismanaged leads to plethora of health problems. This descriptive study is an attempt to understand stress with respect to certain other factors like heavy drinking, perceived health and life satisfaction. The data used is secondary in nature, which was collected from Statistics Canada. Correlation and MANOVA were used in order to realize the objectives of the study. All the variables are strictly correlated with Karl Pearson correlation coefficient ranging from 0.73 to 0.99. In significant test all variables do not belie with alternative hypothesis, which means the association/relationship is not zero. In MANOVA, the null hypotheses were accepted as all p-values are more than significance level (0.01). Apart from this, most interestingly the variables are behaving like cohorts whereby resulting cohort effect.


Parikshit Joshi, Assistant Professor, School Of Business Management
Anuj Srivastava, Controller of Examinations, IFTM University, Moradabad (UP)


The study aims to examine the nature of HRD Climate prevailing in Indian PSU’s and determine problematic areas. This research paper is also an attempt to examine the current status of structuring of HRD Climate and HRD Subsystems in Indian Public Sectors. The study is also made to examine the interlinkages between HRD Subsystems and their effectiveness in Indian PSU’s. A structured questionnaire was designed, pre-tested, modified and used to collect data from Managerial and Non-Managerial staff of IOC Mathura Refinery. Reliability of the questionnaire is checked using Cronbach’s Alpha, for individual items. The sample consisted of 48 Managers (drawn using Probability Simple Random Sampling) and 300 Employees (drawn using Probability Systematic Sampling) of IOC Mathura Refinery. The research design for the study is cross – section descriptive type with field study. Chi – square statistics has been used to test hypothesis. Result reveals that the HRD Climate of the organization is conducive for the development of the employees and organisation as well, whereas various shortcomings are found in the implementation of the HRD System. Findings of the study indicates that HRD function is not well structured, is inadequately differentiated, poorly staffed and fails to meet the requirements of HRD System framework. This study focused on only seven key dimensions of HRD Climate and hence is not exhaustive. Potential for the social desirability effect can be another considerable limitation of the study.Full_paper-180x28

4. Migration: An Overview and Relevant Issues

Ritesh Dwivedi, Lecturer, Amity School of Rural Management, Amity University Uttar Pradesh, NOIDA (UP)


The paper discusses how migration is continuing in different parts of India and how it is becoming more and more crucial towards improving livelihood status. In 2004-05, Indian labour force consisted of about 430 million persons, growing annually at about 2% (Economic Survey, 2007). Slightly less than 3/5th of it is employed in agriculture, mostly residing in rural areas and producing a little over 1/5th of the domestic product. Cultivators form about 2/3rd of the rural workforce, the remaining are agriculture workers. Industry (mining, manufacturing, construction and utilities) employs around 18% of the workforce, producing about 27% of the domestic output. Despite NREGS implementation in all districts, Migration of unskilled and skilled labourers has not stopped yet; it is continuing in parts and pieces. Labourers and farmers whose income is not enough that they can have a respected life, they are opting for some other options. They are migrating towards cities to work in factories and construction projects etc. As it has been discussed frequently that major migration is due to failure of Agriculture as mainstream livelihood activity; policy makers should explore ways and means to reestablish the importance of Agriculture in terms of livelihood. One important fact about migration is that it never can be totally stopped as it is under the process of development. Faulty implementation of several welfare legislations and schemes has led towards more and more migration of rural poor. To the extent, it seems necessary for marginalized and vulnerable class of the society to migrate and have some respectable livelihood options.

5. E-Governance Innovations in State Administration – A Case Study of Jharkhand Prisons

Sunil Kumar Barnwal (IAS),
Doctoral Research Scholar, Department of Management Studies, ISM, Dhanbad
Labour Commissioner, Government of Jharkhand, formerly IG prisons-Jharkhand
Pramod Pathak, Govind Swaroop Pathak,
Professors, Department of Management Studies, Indian School of Mines, Dhanbad (Jharkhand)


Information and communications technology are entering public domain in a big way and have helped some Indian states decline better governance to their people. There are few states have applied e-governance to their people. There are few states that have applied e-governance effectively while many states are lagging behind. Nevertheless, even some of the backward state has been able to improve certain systems and improve administration in selective areas. The state of Jharkhand is a case in point. Though it still lags behind Karnataka, Andhra, Tamil Nadu and Gujarat in e-governance implementation and yet in some selective areas it has done a commendable job. Prison administration is one such area where the state of Jharkhand has proved that it can make e-governance work. The present paper is a case study that showcases the attempt of this otherwise new and underdeveloped state to implement e-governance for increasing the effectiveness of certain systems. Prison management being one of the most sovereign functions of the Government the present paper offers insight into how a state has used ICT to improve functioning of this very important area of administration.


Indrani Sengupta, Lecturer, Varun Baranwal (PGDM student), School of Management Sciences, Varanasi


Sustainable development means attaining a balance between environmental protection, present and future needs. It means equity in development and sectoral actions across space and time . It requires an integration of economic, social and environmental approaches towards development. Sustainable urban development refers to attaining social equity and environmental protection in urbanization while minimizing the costs of urbanization. This paper deals with the role of environment and climate change in sustainable urban development. The first section deals with urban basic services and sustainable urban development in India. The second section notes the inefficiencies in the land policy of India and its implications for sustainable urban development in India. The last and third section summarizes the discussion and ends with way forward. This paper aims at discussing some of the important issues relating to sustainable urban form that would lead to sustainable urban development with possible references to India. The paper is based on available literature and secondary data. The paper is divided in two parts.Full_paper-180x28


Soamya Goel, Research Scholar, MJP Rohilkhand University, Bareilly (UP)
Naresh Kumar, Reader, Department of Commerce, Hindu College, Moradabad (UP)
T. P. Singh, Associate Professor, ISITEH Business School, Ebene, Mauritius


India has vigilantly opened up its capital Account since the early 1990’s as policymakers realized that domestic savings and taxes are inadequate to cater country’s huge investment needs. Therefore indigenous savings should be supplemented with overseas funds for the future growth of the nation. Hence, India sustained with the policy of ‘moving slowly’ rather than taking a single leap in accomplishing full convertibility, for the consequences would be disastrous if anything goes off beam. It has been so observed that India has adopted a discriminatory approach depending upon the sensitivity and economic importance of the various forms of capital flows. Over the time, India has been able to draw reasonable sum of foreign investment and there has been a tremendous growth in the transactions allied to foreign exchange market. Indian companies and retail investors too have made investment abroad. India has received foreign money in the form of FDI, ADRs, GDRs, ECB, Bonds, and FII etc. The set of laws related to various components of capital accounts have been revised from time to time based on the economic conditions, global events and needs of the nation. Foreign capital flows have benefited the country in multiple ways. Forex reserves, Balance of Payment surplus, bullish stock market or growth of MNC’s and market all are the upshots of international finance. In recent times, there has been an ongoing turmoil in the developed countries of the world. India too is experiencing the heat of global contagion. This paper explores the impact of measures taken towards the liberalisation of capital account in the milieu of unfavourable events globally and attempts to reach at suitable conclusions and solutions.Full_paper-180x28

8. Performance Appraisal of Unit Linked Insurance Plans (ULIPs) in India: A Case Study

Udayan Samajpati, Lecturer, Department of Commerce, Vasanta College for Women, Varanasi (UP)


In this paper the performance evaluation of ULIPs is carried out through Risk-Return Analysis, Treynor’s Ratio, Sharpe’s Ratio and Jensen’s Measures. The data used in the study is daily closing NAVs for the period from 1st July 2009 to 31st August 2011. The schemes selected for study are ICICI Life Stage RP-Maxi miser (Growth) Fund, Bajaj Allianz New Family Gain-Equity Index Fund II and ING High Life Plus-Growth Fund. The results of performance measures suggest that all the three ULIPs schemes have outperformed the market. Among the three schemes ING Vysya ULIP is best performer.

9. Testing of Risk Anomalies in Indian Equity Market by Using Monthly Average Risk & Return

Shyam Lal Dev Pandey , Associate Professor-Finance
Gopi K Prachetas Research Scholar, Alliance University, Bangalore (Karnataka)


The objective of the research work undertaken is to examine the Risk Anomaly on the scrips traded in National Stock Exchange. It is an approach which attempts to build a portfolio which maximizes returns for scrips while keeping volatility at minimum. The volatility in the research undertaken is determined by the standard deviation of the stock returns. The study is limited to those stocks whose derivatives are traded in the National Stock Exchange (NSE). The rationale behind selecting such scrips is that they are traded in large volumes. The findings established high risk-high returns paradigm is a fallacy in capital markets. The analysis gave higher average monthly rate of returns for low volatility stocks when compared with high volatility and market portfolios. The probability distribution function was asymmetric and left skewed with a fat tail indicated by kurtosis of less than three. Thus standard deviation which underestimates the potential down side risks was done away with the computation of VaR and LPSD. The cumulative histogram of VaR also established increased downside risks with higher probability for HV and market portfolio when compared with LV portfolio.Full_paper-180x28

10.Self Help Group Movement in Rural Haryana: An Analysis of Trends, Patterns and Schemes

Vikas Batra, Assistant Professor, Department of Economics, Indira Gandhi Post Graduate Regional Centre, Mirpur, Rewari, Maharshi Dayanad University (Haryana)


The paper describes the Self Help Groups experiences of the state of Haryana. In the state, both the government and NGOs have been promoting SHGs under different programmes and projects by various departments and agencies. Women and Child Development Department has promoted SHGs under the Programme for Advancement of Gender Equity and Swayamsiddha. Women’s Awareness & Management Academy has promoted Swa-shakti project. Forest Department has been promoting SHGs under the Haryana Community Forest Project and Integrated Natural Resource Management and Poverty Reduction. Banks are promoting SHGs under the SHGs-Bank linkage Programme of NABARD; DRDA is promoting SHGs under Swarnjayati Gram Swarajgar Yojana ((Now National Rural Livelihoods Mission, NRLM). Mewat Development Agency is promoting SHGs under IFAD programme in Mewat district. The most wide-spread model of micro-finance in Haryana is Swaranjayanti Gram Swarozgar Yojana and NABARD-SHG Linkage. Major problem issues in the state are less effective implementation by various government agencies due to being overburdened with other responsibilities and inadequate manpower, element of subsidy is main attraction, main focus on quantity than quality, highjack the movement by SGSY, less diversify income generation activities,etc. To streamline the system, the paper suggests to phase out subsidies, more emphasis should be on the qualitative aspects of the groups, micro-level planning to identify key livelihood activities, experiment with new livelihoods with group approach and coordinated efforts should be implemented by various agencies.


Jayant.V. Joshi, Dean, School of Commerce & Management Sciences , Swami Ramanand Teerth Marathwada University Nanded (Maharashtra)

Vijay.R.Kulkarni , Assistant Professor, Sinhagad Institute of Management and Computer Application, Pune (Maharashtra)


The study is about finding out the factors which the customers perceive as important as elements of the retail stores atmospherics. For the purpose of the study Exploratory Research Design is used. Convenience sampling method is adopted for the study. Survey method is used for collecting the data. Questionnaire is used as data collection tool. The sample for the study is 155 respondents. Nominal scale is used for all the variables except age, income, family size, no of children wherein ratio scale is used. The study was conducted in Pune city. The study was conducted during the period 01.04.2012 to 15.05.2012. SPSS 17 version used for data analysis for the study. The factor analysis generated twenty elements which the customers feel are important elements of stores atmospherics. These twenty elements were regrouped into five factors viz. Impressive store interiors and exteriors, Store Personnel and fellow shoppers, Comfort, Beauty & Aesthetics, Display and creative arrangement of products on shelves & Attractive displays and behavior of the store personnel


12. Social Media Marketing: An impeccable approach to E-Commerce

Abhishek Srivastava, Doctoral Research Scholar, UP Rajarshi Tandon Open University, Allahabad (UP)
K. M. Pandey, Retd. Prof., Faculty of Commerce, BHU, Varanasi (UP)


E-commerce has always been a much- discussed issue in India and the same can now be alleged for social media. Social media is a theme presently at the tip of everyone’s finger. Whether we use it once an hour or once in a week, it turns to be an indubitable reality that social media has now impacted the way society communicates. However in this changing scenario, new landscape social media refuses to be an easy target attached into the plural perspective. In just a few short years, it has gone from simply being a fun way to connect with long lost friends and family members to becoming one of the biggest reasons, if not the biggest reason why some online retailers succeed. Social media is all about exchange of ideas and conversations have always been known to compel commerce as there is no other better sales arena than the word-of-mouth. Therefore, in this paper I have strategically scanned out the impact of social media over an e-commerce business and the need of coordination and integration to thrive social media activity.Full_paper-180x28

© 2015, School of Management Sciences | All rights reserved.