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The existing framework in the market makes it very cumbersome and difficult to record and maintain the data and information manually and also it consumes a lot of time during the retrieval. If software is used for this purpose, it leads to efficient planning of such maintenance aspects. Computerized Maintenance Management Systems (CMMS) or Enterprise Asset Management (EAM) is an essential operational and management tool which leads to effective planning, controlling and scheduling of all the maintenance activities along with the reduction in downtime, decrease in frequency of failures, better management of work orders, improvement in inventory control, reduction in paper work, improvement in the machine life, reduction in the cost life cycles and increased risk management. In this context, the present paper deals with development of CMMS for a plant. Managing the assets involves design considerations, quality of new inventory and effectiveness in service, inspection and maintenance. This practice eliminates manual data entry and allows the maintenance groups to save their time with calibrations and record maintenance by keeping an online check on all the plant activities. [ABSTRACT FROM AUTHOR]

Indian companies have participated in the worldwide trend of consolidation through cross-border mergers and acquisitions (M&As). During the last decade, there has been a sharp and consistent increase in the number of M&As in India. The paper explores the impact of cross-border M&A on firm performance and financial distress of selected cases in India from diverse sectors. The motive is to get a clear understanding as to whether the cross-border M&As actually lead to improvement in growth, profitability and efficiency of Indian corporate firms, and also whether it helps in reducing their financial distress. For this purpose, the paper has focused on a sample of nine large cross-border M&As in India from different sectors. It is found that these M&As have been effective in improving the firm performance and financial distress in some cases, whereas it has led to increased distress and reduced performance in others. [ABSTRACT FROM AUTHOR]

In India, English occupies the position of a foreign language and is taught in many schools as a second/third language. However, a lot of importance is attached to the mastery of English, and it is necessary to determine the status of mastery of Listening, Speaking, Reading and Writing (LSRW) skills and the lacunae, if any. Of all the skills, writing is the most used skill by students pursuing higher education. This paper aims to find out the status of the overall writing ability and its elements in students studying English as a Foreign/Third Language. It also aims to diagnose the lacunae in the writing ability of the students studying English as a Foreign Language (EFL). The variables selected were gender, type of school (government/private) and medium of instruction. The results showed that there was no difference in students’ writing ability based on gender. The writing ability of private school students was better than that of government school students, and the writing ability of English medium students was better than that of Urdu and Telugu medium students. There was no significant difference in the writing ability of Urdu and Telugu medium students. In India, English occupies the position of a foreign language and is taught in many schools as a second/third language. However, a lot of importance is attached to the mastery of English, and it is necessary to determine the status of mastery of Listening, Speaking, Reading and Writing (LSRW) skills and the lacunae, if any. Of all the skills, writing is the most used skill by students pursuing higher education. This paper aims to find out the status of the overall writing ability and its elements in students studying English as a Foreign/Third Language. It also aims to diagnose the lacunae in the writing ability of the students studying English as a Foreign Language (EFL). The variables selected were gender, type of school (government/private) and medium of instruction. The results showed that there was no difference in students’ writing ability based on gender. The writing ability of private school students was better than that of government school students, and the writing ability of English medium students was better than that of Urdu and Telugu medium students. There was no significant difference in the writing ability of Urdu and Telugu medium students. [ABSTRACT FROM AUTHOR]

India has formally adopted inflation targeting framework for conduct of monetary policy since 2016. Under this framework conduct of monetary policy heavily relies on inflation projection, and hence success and effectiveness of conduct of monetary policy is critically dependent on the understanding of the inflation dynamics. Drawing from the Stock and Watson (2007) atheoretical approach to understanding inflation dynamics, Gopinath et al. (2021) have found that trend inflation adequately explains the movements of inflation in India. In this paper, an attempt is made to understand what influences movements in trend inflation. The evidence presented supports a statistically and economically significant role for inflation expectations in explaining movements in trend inflation in India, be it headlines, core and food component. There is no evidence of any role for the output gap or slack (in levels) in explaining movements in trend inflation, partly reflecting data challenges associated with the estimation of slack. It is argued that there is merit in according significance to inflation expectations in monetary policy formulations by the Reserve Bank of India. It is also argued that monetary policy action has to respond suitably to the changes in inflation expectations, as the latter is found to be important to shape the inflation dynamics in India. [ABSTRACT FROM AUTHOR]

This paper analyzes and forecasts the contrasting conditions of real economy and stock market amid pandemic. Stock market is a place where public dealing takes place for issuing, buying, and selling of stocks in the form of facilitation of the transfer of funds from investors to firms. The main aim of the stock market is to assist firms in raising funds. In this paper, the stock market bubble of 2021 and various pull-push factors behind swelling of the stock market are vividly discussed. As it is known, bubble brings rapid rise in the prices of assets and is usually cyclical in nature. Recently, RBI has shown concern over stock market bubble in its financial report. The paper discusses India's stock market bubble 2021 and provides the reasons for the same: decentralization of firms from China, increase in the rate of vaccination, India's monetary and fiscal policy during the pandemic along with the welfare assistance provided to the public. [ABSTRACT FROM AUTHOR]

Mergers and Acquisitions (M&As) are used as an instrument of exponential growth by companies. Companies choose to merge for various reasons: to avoid the long gestation period of projects, for access to new markets and technology, for better economies of scale, etc. The Indian Companies Act, 2013 has been the new revelation in the M&A regime in India. Mergers have become tools of business strategy to not only gain strength and expand customer base but also for eliminating competition and tax liabilities, and to cover the losses of one company against the profits of another.1 In 2016, an alternative to the lengthy and time-consuming process for mergers was introduced under Section 233 of the Act. This paper aims to understand the concept of fast-track mergers and compare the procedures in India and Singapore. The paper also aims to comprehend if fast-track mergers will help overcome a plausible recession. [ABSTRACT FROM AUTHOR]

Securitization is an off-balance sheet tool that facilitates capital relief. However, in India, securitization originated three decades ago, yet, the market is still in its development stage. In this backdrop, this paper examines an innovative existing structured finance model--securitization as an emerging alternative for sourcing funds to tide over the liquidity and funding constraints in MFI sector. Currently, MFIs rely on lumpy cash flows from banks during Q3 or Q4, when banks are trying to fulfil their CAR needs. However, the structured instruments facilitate MFIs to access the capital markets to match their funding and liquidity requirements. The paper outlines the concept of structured finance and emergence of new asset classes, application of structured instruments in the area of microfinance, securitization models--Direct Assignment (DA) and Pass Through Certificate (PTC)--in MFI sector with insights from industry experts. It also examines the advantages to both originators and investors and suggests the prerequisites for MFIs contemplating approaching these markets. [ABSTRACT FROM AUTHOR]

The construction industry is one of the highest contributors to economic growth worldwide. The construction industry has significant associations with other sectors, and hence its influence on economic development as well as GDP. It includes a series of activities comprising residential construction, engineering works, development projects, complex infrastructure projects, built-up works, etc. The construction sector of India is developing swiftly. But there are many reasons which cause stoppage or postponement of work. There are many disputes which arise between the contractors and clients throughout the implementation of a project. This paper provides a brief overview of arbitration as an active approach of alternate dispute resolution and the necessity for operative dispute resolution management techniques in arbitration to get actual and judicious resolve of construction disputes. It further deals with construction contracts and types of contracts and issues arising out of construction contracts. The major focus of this paper is on the rights of contracting parties of construction industry and legal aids available to the parties, along with dispute resolution mechanisms when faced with construction disputes. [ABSTRACT FROM AUTHOR]

The popularity of Robotic Process Automation (RPA) is increasing, as it helps reduce costs, restructure processing and drives better customer experiences. It is easy to use in business units, does not require any individual to additionally learn new tools or ask IT teams for support, and does not require any changes to be made to the existing IT infrastructure of an organization. Further, it is important to recognize that in contemporary times, the procurement process has become much more than purchasing goods and services on dayto- day basis. The procurement process provides added value in the long run. The paper assesses the impact of RPA on procurement process in MNCs operating in the Indian service industry, specifically in the Delhi NCR region in India. [ABSTRACT FROM AUTHOR]

The Constitution of India glorifies not only political sovereignty but also economic freedom. The dynamism of law is seen as a crucial factor in societal transformation. The constitution serves as the foundation for individual rights and provides mechanisms to protect fundamental rights. The principle of rule of law is essential for constitutionalism. In a federal structure, the constitution’s supremacy is a fundamental feature, and parliamentary affairs should not overshadow it. The judiciary plays the most pivotal role in interpreting legislative and executive actions, contributing to the essence of constitutionalism. Judicial dynamism has been instrumental in safeguarding the rights of citizens against arbitrary state actions. The essence of constitutionalism also supports social transformation through legislative modernization, contributing to societal development. Therefore, as noted in this paper, the concept of constitutionalism promotes a philanthropic constitutional essence aimed at establishing a welfare state as well as maintaining social equilibrium. [ABSTRACT FROM AUTHOR]

The public sector passenger road transport services in India have been established with the aim of providing economical, adequate and sustainable services to the commuters. It is a well-known fact that State Road Transport Undertakings (SRTUs) have become nonprofitable and are a heavy burden on government exchequers. In this context, SRTUs cannot be sustained unless they adopt a professional approach through policy initiatives. The paper examines the growth performance of three SRTUs in West Bengal, India. The objective is to identify the factors and investigate their operational implications for service cost and revenue of selected SRTUs. The results reveal that the annual income of the corporations was not sufficient to meet even half of the annual operating costs and that there exists a significant difference in the performance patterns of the selected SRTUs. [ABSTRACT FROM AUTHOR]

Accounting education today not only requires upgradation of curriculum but also trained and qualified teachers, proper facilities to nurture the growth of the students and development of relevant skills. Therefore, gaps in four aspects, namely, the faculty and teaching methods, curriculum, facilities provided in the institutions and skills imparted in the institutions, have been identified exclusively from the students’ point of view. Chi-square anaysis is used to test the association between the type of institution and the perceptions regarding various aspects of accounting education. The paper highlights the highest gap that exists between the perceptions and expectations of students and the skills imparted in institutions. Further, it is found that there is no association between the type of institutions and the gaps in skills. All types of institutions are found to be lacking in providing training or imparting skills. [ABSTRACT FROM AUTHOR]

Fish, crab, prawns and other seafood are among the animal-derived foods that are regarded as the safest in contemporary world in terms of enhancing food security. Globally, aquaculture is growing rapidly. India has a big impact on aquaculture due to its proximity to water. In the dynamic context of aquaculture ponds, the interactions between water quality factors are complicated. For instance, unbalanced temperature and pH conditions may make ammonia more dangerous. In poor quality water, fish do eat, but the calories are changed to promote health rather than development. When the water is of high quality, animals can defend themselves most effectively. In this paper, the proposed model monitors and controls fish growth, detection of aquatic animal illnesses and Water Quality Index (WQI). Automated aquaculture employing Arduino and image enhancement techniques are used mainly to spot fish infections. Additionally, management of aqua system is employed to generate high-quality aqua food for customers. [ABSTRACT FROM AUTHOR]

The paper investigates whether there is evidence to support the concept that variations in observed ownership structures across firms result in methodical variations in observed financial performance in the Indian market. The study assesses the impact of ownership structure on corporate performance measured by both the market-based measures (Tobin’s Q, MBVR and MVA) and accounting-based measures (ROA, ROCE and ROE) of 178 NSE CNX listed nonfinancial companies for a period of 8 years from 2011 to 2018. Two different aspects of ownership structure are considered, i.e., concentration and owner identity. The results of the study could help the Indian companies, regulators, policymakers, and practitioners to adopt and sustain good corporate governance practices for value creation and for making them ready to meet the future changes. [ABSTRACT FROM AUTHOR]

The paper examines the linkage between oil price, climate variability and Food Inflation (FI) in India using linear ARDL model for the period January 2001 to December 2021. The study uses monthly time series data on CPI (general index, food price index, Money Supply (M3)), oil price and trade openness (volume of Export+Import to % GDP) and temperature change retrieved from the online data base of Reserve Bank of India, FAOSTAT, MOSPI and Ministry of Petroleum and Natural Gas. Since the variables are in different units, natural logarithm values are used in model estimation. The study found that a positive correlation between FI and study variables. The ARDL Model coefficient values show that Money Supply (MS) positively impacts FI, whereas lag MS negatively affects FI. Oil price has a positive impact on FI and trade openness coefficient is positive but not significant. Temperature Change (TC) has a negative impact on FI. The ARDL bound test result indicates that there is cointegration between FI and the study variables. The ARDL-VEC coefficient values indicate that oil price and TC have significant causal relationship with FI. To tackle high FI, there is a need of government and policymakers’ intervention for oil consumption diversification from crude oil to natural gas. The RBI should tighten the monetary policy and repo rate in order to lower FI. [ABSTRACT FROM AUTHOR]

Today, marketing strategies are influenced by social media. Social media empowers companies to inform, update, influence and retain existing customers easily, and on the other side, it provides the feedback and reviews of customers. Social media marketing enables companies to generate perceived brand trust, brand loyalty and brand attitude among customers to repurchase the companies’ products and services. The paper analyzes the effect of social media marketing on Indian customers with regard to repeat purchase of branded products. Further, it explores the mediating effect of brand attitude, brand trust and brand loyalty on customer retention with regard to branded products. Data was collected from 18 metropolitan cities of India through an online questionnaire. The results indicate that social media marketing activities influence Indian customers’ repurchase intention towards luxury products. Social media marketing professionals of companies need to keep updating the information on luxury products on social media for promoting and creating awareness of luxury products. Information about high-quality, long-lasting, futuristic and the ‘must have’ attributes of sustainable luxury products can help in sustainable customer retention and sustainable repurchase of luxury products. They also need to focus on social networking sites and other social media for feedback and reviews. Thus, social media marketing helps achieve customer retention through brand loyalty, brand trust and brand attitude. [ABSTRACT FROM AUTHOR]

Monetary policy has been formulated with the purpose of achieving the twin objectives of economic growth and price stability through the successful working of the transmission mechanism. Monetary policy-induced changes in the nominal variables are expected to impact the real economic indicators like GDP and inflation. The evolution of Reserve Bank of India's (RBI) monetary policy has been divided into four distinct frameworks: pre-monetary targeting, monetary targeting, multiple indicator approach and eventually an inflation-targeting framework since 2015. RBI's monetary policy strategies have undergone substantial transformation in the last 70 years. The success of each monetary policy framework can be assessed by comparing the impact of monetary policy changes on various economic performance indicators. The purpose of this paper is to compare the performance of economic indicators under different monetary policy frameworks in the postindependence period. The economic performance indicators used in the study are inflation and output gap. Analyzing the monthly data from April 1982 to March 2017, the study finds that the multiple-indicator and the inflation-targeting regimes have had most success in balancing the twin objectives of growth and inflation. [ABSTRACT FROM AUTHOR]

India is considered as an outlier in the nuclear global order. India's nuclear behavior is a mixture of multiple puzzling behavioral tendencies. This paper attempts to unravel the puzzle pertaining to the judgment of the international community on India's nuclear behavior. The key question that this paper addresses is: Why is there a shift in the popular perception of the international community on India's nuclear behavior? For instance, in the 1970s and the 1990s, India was labeled as a nuclear revisionist state, but this perception has been shaded since 2005. What are the key drivers of this transition? The paper establishes that the characterization of India as a 'responsible nuclear state' is based on limited rationality, which curtails India's normative contributions and serves the strategic interests of the US and its allies. The paper argues that India's nuclear behavior needs to be appreciated from the vantage point of India's normative contribution over the material gains. From this vantage point, the deep roots of responsibility condition India's inevitability in the nuclear global order. [ABSTRACT FROM AUTHOR]

Primary (Urban) Cooperative Banks (UCBs) in India operate under the provisions of the Banking Regulation Act of 1949 - As Applicable to Cooperative Societies (AACS). Considering the large heterogeneity in their asset sizes and the absence of any regulatory cap on their leverages, the principal objective of this paper is to understand the interrelationship of their leverage and scale of operations with financial performance. The analysis, based on a three-year pooled data sample of 140 well-distributed UCBs, shows a significant difference across the capital adequacy, leverage and Net Interest Margin (NIM), based on the scale of operations, but due to heterogeneous and skewed distribution of UCBs in terms of asset size, the impact of the scale of operations on the financial performance does not manifest very clearly. It, however, shows that the scale of operations is unrelated to the incidence of non-performing advances. Further, UCBs with higher leverages do not show superior financial performance in terms of key financial variables. However, banks with higher leverage do gain in terms of their Return on Equity (ROE). These findings provide nuanced guidance to the UCBs and are also useful for regulatory policymaking on the subject. [ABSTRACT FROM AUTHOR]

The aim of this paper is to provide an overview of the existing legislations, complemented by government policies and specific guidelines developed during the Covid-19 pandemic for its effective implementation, along with a few cases reflecting the approach of the Indian judiciary in controlling and managing biomedical wastes. There must be a legal framework in place to govern the handling of different forms of trash and the collection and transportation of waste as well as the duties and training needed for waste management and regulation inside India. In addition, the paper examines the legal gray areas and obstacles to the effective execution of the Biomedical Waste (Management and Handling) Rules, 1998 and its subsequent amendments in 2016. Nature has often shown us the importance of the interdependency of the atmosphere, development, and law, which has only just been recognized by the world. The present improbable and disastrous pandemic wave has impacted human health and environment so severely that it has brought forward the desperate need for effective management of huge biomedical waste generated and disposed of in our country. In furtherance of which, the government has also laid down special guidelines to be followed for disposal of biomedical wastes during treatment/diagnosis/quarantine of Covid-19 patients. This further endorses the fact that mere protection and conservation of the environment under the Constitution, mandated by various legislations, does not suffice, and it is high time that we ensured proper control and management of biomedical waste to save the most basic human right that is "Right to Life", visualized under Article 21 of our Constitution. [ABSTRACT FROM AUTHOR]

The purpose of the paper is to identify the need for supervisory mentorship, factors affecting it, and its impact on the outcomes of new recruits in the Indian IT industry. The study uses thematic analysis to gain insights into why supervisory mentorship is important and how it can influence the outcomes of new recruits. Semi-structured interviews were conducted with 43 new recruits from six different reputed IT companies in India. The analysis of collected qualitative data resulted in nine themes which highlighted the importance and influence of supervisory mentorship among new recruits. The results show that supervisory mentorship has a positive influence on the attitudinal, behavioral and career-related outcomes of the new recruits. The paper provides wider information about the various aspects of supervisory mentorship. As reported by the respondents, supervisory mentoring is the need of the hour for the Indian IT industry to reduce uncertainty, ensure role clarity and task mastery, and to direct the social behavior, besides introducing a proper understanding about organizational culture among the new recruits. [ABSTRACT FROM AUTHOR]

History, ethnicity, culture, and religion have played a key role in India-Myanmar bilateral relations. Whether it is linkages to Buddhism or geographical proximity, the two countries understand the significance of their bond despite the complications. The inconsistent democracy in Myanmar has created "ups and downs" in bilateral relations while posing many challenges for India. India's policy with respect to Myanmar lacks clarity and a long-term vision unlike China's strategic framework. India's patient and quiet diplomacy towards Myanmar lacks long-term visions. Hence, anything short-term necessitates punctual transitions. India must adopt a realist policy but with a smidgen of idealism. This idealism would not be against the Indian national interest and would definitely pay off in its rivalry with China. The paper focuses on how India's relation with Myanmar is influenced by the absence of a proper democratic institution. It explores the influence of Tatmadaw's rule on the Sino-Indian energy conflict in Myanmar. The paper draws insights from the history of India-Myanmar relations to analyze India's current potentiality to outplay China in gaining diplomatic advantage and reaping greater advantages. [ABSTRACT FROM AUTHOR]

India's youth unemployment rose from 15.5% in 1991 to 23% in 2019. This period also witnessed a declining trend in India's youth to working-age population ratio from 33% to 27%. These statistics are aligned with the existing studies which postulate that if the working-age segment has a large proportion of youth in the age group of 15 to 24 years, it will lead to a high unemployment rate. Given such a context, this paper aims to examine and estimate the demographic, monetary and macroeconomic factors influencing India's rising youth unemployment, with the help of Autoregressive Distributed Lag (ARDL) approach to cointegration. This study also brings in a new dimension to the existing studies by providing an in-depth analysis of the role of millennials cohort, which entered the working-age segment in 1995, in contributing to India's rising youth unemployment. A disaggregated analysis of India's youth unemployment based on the criteria of education and gender has also been carried out. [ABSTRACT FROM AUTHOR]

The handloom sector in India is one of the oldest, primarily rural-based, non-farm sectors that is the second largest employment generator in the country after agriculture. The sector is slowly losing its competitiveness due to several external forces. More importantly, the handloom supply chain that depended on traditional methods has not been able to match with changing times, resulting in declining market share, impacting weaver incomes. Research in this sector suggests that in order to survive, the sector needs immediate attention that revolves around the adoption of modern technology and new-age marketing practices. Businesses of today are surviving and expanding due to technology adoption, which is not the case with the handloom sector. Although e-commerce adoption has diffused quite rapidly in other sectors of the economy, in the handloom sector it is still at a very nascent stage. This paper makes an attempt to discuss the problems faced by the handloom sector in India and analyzes the possibilities and challenges of adopting technology. Doing so, the weavers would benefit and get the true value for their products. The paper also elaborates the factors that affect the adoption of technology (e-commerce) by weavers. [ABSTRACT FROM AUTHOR]

This paper examines the role of political narratives in the making of a conflict and its resolution. India-Pakistan rivalry has persisted far too long now. It has been one of the most protracted and intractable conflicts. Furthermore, this paper develops a linkage between the distorted narratives and intractability of a conflict. Intermittent military engagement has sowed the seeds of mutual distrust between India and Pakistan. Nevertheless, the lamentable part is that the rivalry has been accentuated by distorting the narratives. Narrative is a very powerful force in the realm of international political arena. It is strong enough to change the trajectory of any relationship that exists in international system. It is notable that the distorted narratives are very much useful for the ruling elite to divert the attention of the masses from the pressing demands such as employment, education, decent standard of living so on and so forth. Political narratives in Pakistan against India still breed fear psychosis in the civil society of Pakistan. Among these, one has been that India has not accepted the partition of Pakistan as a reality and would try to undo the partition eventually. In the light of the above-mentioned correlation between distorted political narratives and sustainability of the conflict, this paper dwells on how the deconstruction of the political narratives (which portray false political realities) is quintessential to understand the practical details of the conflict. [ABSTRACT FROM AUTHOR]

Agriculture is an important sector for developing countries like India. However, the development of agricultural production has been hindered by certain issues related to the use of traditional systems. In the past, much research has been carried out to modernize the agricultural system. However, there is a need for low-cost and easy-to-use technological solutions to the poor farmers of the country. Hence, the paper aims at making the existing agricultural system smart by using IoT. A compact, lightweight and integrated system has been developed comprising multi-sensors to measure all the parameters and continuously monitor the soil content, weather conditions, temperature and humidity. All parameters are real-time monitored over the Internet of Things (IoT), thereby making it remotely accessible from anywhere with the help of an android application. The paper proposes an arduino-based automatic irrigation IoT system which can increase the productivity of the crop eventually. Thus, a basic implementation of some sensors along with wireless networking would come out as a boon to the farmers. The results obtained are considerable and under tolerable ranges. [ABSTRACT FROM AUTHOR]

IVF and Assisted Reproductive Technology (ART) have offered millions of infertile couples a ray of hope. ART has revolutionized the lives of countless hopeful couples by fulfilling their dream of having children. Advanced research practices have been made possible by ART. The technology also challenges society’s views on human life, justice, equal rights, and entitlement to biological offspring. The paper discusses the legal importance of ART, role of ART clinics, the criteria for determining whether a couple deserves to use ART measures, etc. It also examines the legal issues involved in the reproductive rights of women. It is felt that more laws are needed to address the problems brought out by ART. [ABSTRACT FROM AUTHOR]

The purpose of the criminal justice system is prevention of crime, maintenance of law and order to preserve public peace, as well as protection of rights of the important stakeholders, i.e., the accused and crime victim. In India, the criminal justice system is accused-oriented. The Constitution of India guarantees certain rights to the accused under articles 20, 21, and 22. Conversely, victims of a crime are forgotten. They are considered mere witnesses in the trial. In the last few decades, many countries in the world have recognized the need to protect the rights of the crime victims. But unfortunately in India, there is no substantial improvement in the condition of victims. In 2003, Justice Malimath Committee made several recommendations concerning victims of crime. Amendments have been made to the Criminal Procedure Code in 2008 and Section 2(wa) has been inserted in the code which provides an elaborate definition of a victim. Few other sections also have been inserted by Criminal Law Amendment Acts which contain provisions relating to the victim. Nonetheless, the needs of the victims are not properly addressed and their role in the criminal justice system is nominal. This paper examines the role of crime victims in the criminal justice system and suggests measures to enhance their position. [ABSTRACT FROM AUTHOR]

To safeguard against foreign exchange risk due to high market volatility in today's globalized world, exporters use currency futures and options for smoothening the cash flows. This paper aims to analyze the performance of hedging foreign exchange risk using US dollar futures and options and their characteristics. The study uses data from 2016 to 2022. The results show that Indian exporters with a relatively high degree of risk aversion should prefer USD futures contracts with long-term maturities, low liquidity, and high open interest to hedge foreign exchange risk and generate maximum benefits in value enhancement. On the other hand, Indian exporters with a relatively low degree of risk aversion should use the protective put strategy with put options characteristics of long-term maturity, high liquidity, and out-of-the-money (in-the-money) put options if they have a strong conviction about the rising (declining) USD market. The results are robust as they are consistent for all individual years from 2016 to 2022 and for the overall period too. [ABSTRACT FROM AUTHOR]

Assessments determine the student’s knowledge and skill in a specific course and the grades communicate the skill level to the stakeholders. In this line, the assessment and grading system become the prime requisites of the education system. Thus, educators and policymakers must ensure a fair, reliable, valid, flexible, and transparent grading system for quality education. The two different types of grading are absolute grading and relative grading. Relative grading (or norm-referenced assessment) refers to teachers’ assessing students’ performance relative to their classmates’ performance. In contrast, absolute grading (or criterion-referenced assessment) refers to teachers’ grading students’ performance on definite learning criteria, usually fixed by the teacher. Though most Higher Education Institutions (HEIs) in India follow the absolute grading system, the high-ranking institutions mostly follow the relative grading system. Both the grading systems have their share of pros and cons. This paper analyzes the features, attributes, and characteristics of both the relative and absolute grading systems followed in higher education. It also concentrates on how these grading systems impact language learning and acquisition, especially in English as Second Language (ESL) and English as Foreign Language (EFL) contexts. It is established that language learning is quite different from learning other subjects and requires different assessment methods. On analysis, absolute grading seems to render a more conducive environment for language learning and assessment than relative grading in higher education in the ESL/EFL context. [ABSTRACT FROM AUTHOR]

Given its long heritage in luxury, it is surprising that India does not dominate most of the world's luxury industries and brands. A majority of books written about luxury brands and India tend to focus on what cultural and other issues Western brands should be aware of before trying to penetrate this complex market. India is either seen as a potentially huge consumer market for European luxury goods or as a huge, low-cost factory in which to produce Western-branded luxury goods. The paper aims at understanding why Indian Luxury Experts--and even Master's Degree Students specializing in Luxury at a leading Business School in India and the UAE--believe India does not create its own global luxury brands. This paper considers their opinions from a 'French' perspective and attempts to offer insights and inspiration towards encouraging the emergence of a confident India that creates, not just 'makes', its own global, 'sustainable' and ethical luxury brands. [ABSTRACT FROM AUTHOR]

The existence of a punishment such as Death Penalty in contemporary India presupposes a blameless, unmarred Criminal Justice System. When a court decides to take the life of a human being, with the intention to punish for a wrong deed, it assumes that all the chains in the machinery that led to the conviction of this man are faultless. Through this paper, the authors aim to analyze the procedures of criminal justice that take place in our country. The purpose of this paper is to understand whether this brutal punishment relies on a system that is just, fair and dependable. The authors introduce their stance on the issue with the help of a contemporary Indian case. Then, the processes of investigation and collection of evidence by the police are scrutinized. Further, decisions of the judiciary are analyzed to develop an understanding of the methods of the judiciary. Later, the final stage of criminal justice, the executive clemency, is broadly analyzed. Once the system that awards this punishment is scrutinized, the authors attempt to prove the alleged brutality of the punishment by analyzing its impact. [ABSTRACT FROM AUTHOR]

The use of technology has changed the way people communicate and interact with each other within their social circle. This has created opportunities for financial services companies to meet customer expectations through various alternative channels. Mobile banking is one of the channels which offers various multiple services to the customers in order to bypass the traditional branch-based retail banking. However, sharing personal financial information and payment information through mobile banking proves an obvious risk to the consumer. The amount of financial risk associated with the individuals varies from person to person as per their tolerance level. The aim of the present paper is to assess the effect of different levels of Financial Risk Tolerance (FRT) on adoption of mobile banking in India. The paper identifies the FRT levels of mobile banking users of India and then studies the effect of different levels of FRT (high, moderate, low) of users on adoption of mobile banking services. The findings of the paper are of help to the financial marketers to develop and offer various realistic options to the adopters as per their FRT levels. [ABSTRACT FROM AUTHOR]

The aim of the present paper is to evaluate the efficiency of the Indian general insurance companies and to find out the reason for their inefficiency. The paper intends to rank these companies on the basis of their efficiency. 12 general insurers are studied using Data Envelopment Analysis (DEA) for a period of 12 years, i.e., from 2005-06 to 2016-17. The study is based on secondary data collected from annual reports of insurers and Insurance Regulatory and Development Authority of India (IRDAI). The study concludes that not more than one-third of the insurers are found to be technically efficient. Pure technical efficiency was observed for 50-75% insurers. This makes it clear that the main reason for inefficiency is the scale inefficiency. The same is reinforced by superefficiency results. Public sector companies should reduce their scale dimension and private sector companies should work for the enhancement of their scale dimension, so that they can achieve the most productive scale size and become more efficient. [ABSTRACT FROM AUTHOR]

Finding an optimal asset size and consequent scale economies remains a critical challenge for the cost efficiency and profitability of banks. For the Urban Cooperative Banking (UCB) sector, with large heterogeneity in asset size, an understanding of scale economies helps in improving their business model and also aids in benchmarking for consolidation. This paper presents an analysis of the relationship between asset size, operating cost, and profitability in scheduled Urban Cooperative Banks (UCBs). The paper examines the movement in total operating cost and profit in relation to variation in asset size after controlling for business, market, and environmental factors. It finds that expansion in asset size up to 87,983 mn leads to downward movement in conditional operating cost per rupee of assets. Similarly, it finds an upward movement in conditional profit before tax with an expansion in asset size up to the level of 43,462 mn. The paper does not find any benefit of scale economies on cost and profit beyond these levels. It finds no evidence of scale economies in large UCBs having an asset size between 100 and 500 bn. However, for a majority of small and mid-sized UCBs, opportunities for achieving scale economies through organic or inorganic growth are found. The paper finds no statistical significance of the environmental strength, arising out of the strong cooperative culture in certain states, on the scale economies in the UCBs. [ABSTRACT FROM AUTHOR]

India is known for the inordinate delays in the disposal of cases. Inordinate delays in the legal process are viewed as breach of investment treaty obligation by India. To overcome this and to ensure speedy adjudication of commercial disputes in India, the Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 2015 was enacted. Alternative Dispute Resolution (ADR) mechanism plays a major role in commercial disputes. Among all the ADR mechanisms, mediation has attracted the parties around the globe and proved to play an effective role in commercial dispute resolution. Of late, mediation has found an attractive position under Section 12A of the Commercial Courts Act, 2015 by way of 2018 amendment in the form of Pre-Institution Mediation and Settlement. The legislature intended mediation to be a remedy of first instance which has to be exhausted before moving the court of law. Against this background, this paper analyzes the introduction of this new concept into the Commercial Courts Act and takes a critical view on the implementation of mandatory mediation in commercial disputes. The paper further gives suggestions to overcome the shortcomings in the implementation of Section 12A of the Commercial Courts Act, 2015. [ABSTRACT FROM AUTHOR]

Corporate governance ensures adoption of fair accounting practices and transparency in financial reporting system. It defines the accountability of managers and acts as a deterrent to earnings management. The present paper examines the relationship of corporate governance characteristics (board, audit committee and ownership structure) with earnings management in India. The study examines earnings management practices of BSE 500 index companies for five financial years from 2012-13 to 2016-17. Discretionary accruals are used as a proxy for earnings management, calculated with the help of cross-sectional modified Jones model by Dechow et al. (1995). The results of panel data regression suggest that attendance of board meetings by independent directors and presence of women directors on board significantly reduce earnings management. Concentrated promoters' shareholding positively and significantly influences earnings management. The paper further strives to investigate the influence of independence of audit committee on earnings management with firm's profitability as a moderating variable. The results reveal that audit committee independence is more effective in constraining earnings management in firms with high profitability than their less profitable counterparts. The findings of the study give useful insight for regulators, policymakers and company boards in taking appropriate measures to increase the quality of financial reports. [ABSTRACT FROM AUTHOR]

This paper is an attempt to find out the factors affecting the investment by foreign portfolio investors in India. Considering firm-level variables, the paper tries to find out the importance of corporate governance factors in foreign portfolio investment in India, based on the annual governance data (March 2008) and foreign portfolio investment data (March 2009) of BSE 500 companies. Estimating the multiple regression equation by using ordinary least squares technique, the paper reveals that the foreign portfolio investment is significantly affected by financial returns as well as corporate governance factors. [ABSTRACT FROM AUTHOR]

This paper intends to propose a conceptual framework on the personal and contextual antecedents of job search intensity among the final year job-seeking university students in India. It focuses on three dimensions of social support, viz., emotional, financial and informational, received by the graduating students during their job search process. The paper also proposes that the social support dimensions will have a differential impact on the job search behavior exhibited by the entry level job seekers. Further, it discusses the impact of employment commitment on job seekers’ search intensity. Besides, the paper proposes a conceptual model that can be used to study the mediating role of job search selfefficacy and job search clarity on the relationship between social support dimensions and job search intensity, and employment commitment and job search intensity. [ABSTRACT FROM AUTHOR]

The paper reviews research on the linkages between select demographic and behavioral variables and customer perception of the banking service quality in the face of commercial bank mergers in India and seeks to identify gaps in the current body of knowledge which justify future research directions. The impact of bank mergers on customer service quality has attracted a great deal of attention during the last two to three decades in view of the ongoing consolidation of the Indian banking sector with a view to improving its efficiency and profitability. Using Systematic Literature Review (SLR) method, the study reviews papers from 37 refereed journals and other books published on the subject. Detailed content analysis reveals that most of the research is empirical and identifies brand equity, Customer Relationship Management (CRM) and innovative ability, among others, as the major factors influencing the customer perception (marketing implications of commercial bank mergers) of service quality of commercial banks in India in the face of mergers. In conclusion, the study found that demographic and behavioral variables and customer perception of the quality of service of the merging commercial banks in India are related and the bank managements must give due importance to the segmental differences while formulating their marketing strategies if they have to be successful in the emerging competitive commercial banking scenario of India. Future research may be carried out taking larger and more diversified samples of bank customers to generalize the research findings. [ABSTRACT FROM AUTHOR]

Promoters play a very important role in the performance of companies. In India, the average holding of promoters is very large at around 54%. These promoters are either government or private individuals and business houses. India started the privatization process in a big way in the early 1990s and also started disinvesting stakes in major public sector companies, while retaining a minimum of 51% stake in a majority of companies, in effect keeping the control. The paper with an objective to study whether there exists a significant difference in the performance of government promoted firms and private firms and found a significant difference in the performance between them using both independent sample t-test and pooled panel data regression. The paper is based on the data of public listed companies in India over a period of 11 years (2008-2019). [ABSTRACT FROM AUTHOR]

This paper examines the impact of Corporate Governance (CG) variables on firm performance, and studies if the relation is different for State-Owned Enterprises (SOEs) and private enterprises. The study examined 53 listed Indian firms, wherein 33 are private and the remaining are SOEs for the period 2011 to 2019, using multivariate regression analysis. The CG variables used in the study are independent director, non-executive directors, meetings, audit committee, and board size. Further, the study provides evidence that among all the CG variables, independent director and audit committee are found to be significant and this relation remains consistent in both types of firms: SOEs and private. The study concludes that the overall performance of SOEs is less than that of the private firms. [ABSTRACT FROM AUTHOR]

In India, from manual collection to electronic collection, drastic changes have been done at toll gates. The risks due to cash are high compared to digital money. The introduction of a digital payment system laid the foundation for the present toll collection system. In FASTAG, Radio Frequency Identification (RFID) technology is used for toll collection at national highways. RFID tag plays a key role in the automated deduction of toll charges. FASTAG main objectives are traffic control and timesaving. But there are a few disadvantages, as FASTAG uses an RFID tag, which can be cloned, so there is a chance for misusing it, and it is also somewhat inconvenient to the user as they have to renew the tag every three years, for which they have to pay. In case of loss of FASTAG, the user has to wait for a whole day for a new tag and they have to pay for it. The paper implements toll collection using image processing technology, which does not require RFID scanning devices and RFID tags. The account details of the user are stored in the database using the user's vehicle number plate as a key. When a vehicle is passed through the toll gate, license plate details are retrieved using image processing. The transaction can be done by retrieving account details from database using the vehicle's number plate details. Using the Open Computer Vision (OCV) and Optical Character Recognition (OCR), the system can extract characters from the captured vehicle image. [ABSTRACT FROM AUTHOR]

The paper develops a Mixed Mode Solar Crop Dryer (MMSCD) using blackcoated pebbles. The experiments were conducted in Ujire, Karnataka, India. Potato slices were used for test sample with an air speed of 4 m/s. Open Sun Drying (OSD) was used and the working temperature range of MMSCD was 36-64 o C, which is suitable for drying a wide variety of fruits and vegetables like green peas, cauliflower, chillies, apples, sweet potatoes and grapes. The dryer was able to provide hot air from 9:00 to 19:00 hours in a day. The overall maximum efficiency of the dryer was 56%. To reduce the moisture content from initial (75%) to storable level (below 10%), MMSCD took 6 h. However, 24 h (3 days of sunshine) were taken under OSD to attain the safe moisture content. [ABSTRACT FROM AUTHOR]

The right to abortion is one of the most prominent reproductive rights and hence has been a topic of great discussion, deliberation, and debate all across the globe. This has also been due to its varying nature and degree of acceptance in differing legal frameworks and jurisdictions. While it is one of the most intimate decisions and choices that a woman ought to have the authority to make, its jurisprudence, in tandem with an inalienable facet of privacy, that is, decisional privacy, has shaped the law and policy of various common law countries, including India and the United States. In this regard, the legislative approach in both countries is dynamic, and the judicial outlook has had different scales of balance, tilting towards either the 'compelling state interest' to protect a fetus or the decisional autonomy, reproductive rights, and privacy of the woman bearing the child. However, the triad of law, politics, and society, with shades of religion, have shaped the mechanisms that govern such rights in both these nations. And this paper presents a comparative perspective on the abortion laws and policies vis-à-vis privacy of the individual in India and the United States. [ABSTRACT FROM AUTHOR]

The 'doctrine of pleasure,' as enshrined in the Indian Constitution, has its roots in the unfettered feudal system. In a feudal setup, the crown has absolute power; on the other hand, in a democratic setup, there cannot be anything unfettered, arbitrary, and irrational. The pleasure doctrine and its interpretation are alien to a democratic society as it grants power to the holder to act whimsically. This paper focuses on the precarious interpretation of the doctrine of pleasure in India with reference to gubernatorial power. In recent times, various political parties in power at the center have misused the office of Governor for political gains, which negates the very spirit of the Indian Constitution. [ABSTRACT FROM AUTHOR]

The paper investigates the trade-off between audit efforts and audit risk post implementation of IFRS and its impact on audit fees for selected publicly listed nonfinancial Indian firms. The sample consisted of 750 firm-year observations from the nonfinancial companies listed on Bombay Stock Exchange from FY2009-10 through FY2018-19. We used the Dynamic Ordinary Least Squares (DOLS) regression model in a panel framework and ensured robustness by introducing observant variables. The study found a significant decrease in the audit fee growth in the post-IFRS period, which was justified by the trade-off between audit efforts and audit risk. Further, the study found that improved disclosure, accounting quality, and auditor rotation negatively impacted audit fees. Auditor expertise was found to significantly increase audit fees. To the best of the authors’ knowledge, this is the first study to analyze the association between IFRS and audit fees by critically examining the trade-off between audit efforts and audit risk post FRS implementation in emerging countries. The findings of our study have significant implications not only for the upcoming phases of mandatory IFRS implementation in India but also for emerging and developing economies that intend to mandate IFRS. The firms intending voluntary adoption of IFRS can also use this study to make informed decisions. [ABSTRACT FROM AUTHOR]

The paper evaluates the effect of Working Capital Management (WCM) on firm profitability of selected textile companies in India. The study is based on secondary data collected by CMIE from the companies’ annual reports for the years 2011-2020. Regression analysis is used on a panel sample of 98 companies from India’s Bombay Stock Exchange. Various financial ratios related to Working Capital (WC) and profitability and panel data techniques like Fixed Effect Model, Random Effect Model and Hausman test, etc. are also used. The results showed that WCM has a significant impact on a firm’s profitability in the textile sector. [ABSTRACT FROM AUTHOR]

Unlike other materials, metals can be recycled frequently without their properties getting degraded. Scrap metal recycling helps to fulfill both a financial incentive and an environmental imperative. The aim of this paper is to look at some of the issues faced in metal recycling, especially at the primary level of scrap metal production. It assesses the current metal scrap recycling market in India in general and analyzes the industry's future growth potential by devising a business model. Tata Steel has been selected to devise a model based on its strategic fit for the aforesaid industry. The study systematically follows a mixed method of data analysis and meta-analysis for studying the business model and the market supply chains of existing players. [ABSTRACT FROM AUTHOR]

India is a country with varied terrains, climatic conditions, and soil configurations that provide the best possible environment to produce almost all varieties of fruits and vegetables throughout the year. Wastage cannot be avoided as farm produce is seasonal and perishable that requires specialized processing, storage, and transportation to ensure longevity. However, post-harvest waste of farm produce in India is substantially higher than in many developing countries in the world. Various reasons can be attributed to it: strategic and operational supply chain inefficiencies arising due to ineffective and outdated processing methods, lack of cold chain infrastructure; inadequate knowledge and application of appropriate storage and transportation systems; and a lack of coordination and integration in the supply chain. The paper identifies the challenges associated with the export of fresh fruits with an illustrative case of grape exports from India. It provides innovative supply chain solutions that can help mitigate these challenges as there is a growing demand for fruits and vegetables throughout the world. India has the potential to seize the opportunity and become a major player in the global market. [ABSTRACT FROM AUTHOR]