Search

Since the outbreak of the European war, the flow of rupee coins back from circulation to reserves, which has been going on for many years, has been reversed. The stock of rupee coin in the Reserve Bank of India has decreased, while circulation has increased, between September 1939 and July 1940. This increase of coin circulation has been due partly to the proportional increase of note circulation and to some tendency to hoard coins in preference to notes. To avoid exhaustion of the Reserve Bank's supply of coin, the government of India began the issuance of 1-rupee notes. In December 1940, it announced a reduction in the fineness of the rupee from 11/12 to 0.300. It remains to be seen whether this section will be acceptable to the population.

Purpose: In 2014, real estate investment trust (REIT) emerged as a new alternative investment option in India. This research aims to give an empirical authentication of the Indian REITs performance from April 2019 to July 2022 across a range of investment variables. Design/methodology/approach: Using monthly total returns in Indian Rupee, risk-adjusted Indian REIT performance and investment portfolio characteristics are examined. Indian REITs' potential in a diversified multi-asset portfolio is analysed using the mean-variance analysis, asset allocation diagram and efficient frontier. Findings: During April 2019–July 2022, Indian REITs provided a lower return than stocks but outperformed bonds despite coronavirus disease 2019 (COVID-19) lockdowns, which hurt the traditional working from office concept. The study also examined REIT allocation to an Indian mixed-asset portfolio and the benefits of a diversified portfolio. Practical implications: Indian REITs provide a liquid, transparent alternative to direct property for investors seeking exposure to Indian real estate markets. Indian REITs gave real estate companies an extra funding source and investors an alternate asset. This paper explores Indian REITs' potential opportunities, given that domestic and foreign investors' demand for transparent property investment in India. The analysis found a positive early performance despite a challenging environment. Originality/value: This paper offers the first empirical performance validation of Indian REITs as a way to obtain exposure to commercial property in India and the REITs' role in a diversified asset portfolio. The authors' study improves investors' decision-making abilities by providing empirically validated, valuable and practicable property investing insights. [ABSTRACT FROM AUTHOR]

This paper brings out the effect of movie piracy on legitimate sales of the movies in the Indian context. The paper becomes much more relevant when internet and streaming services are very much common these days. Based on the survey of 500 undergraduates students of university of Delhi, the paper finds that first, one unit of unpaid movie viewing displaces about 0.35 units of paid (first) movie viewings. Second, due to presence of "sampling effect" one unit of unpaid (first) movie viewing increases second paid viewings by 0.1 units. Thus, we find support for incomplete displacement, that is, a displacement rate less than one‐for‐one. Third, these displacements rates are causing an estimated 6.2% loss in sales of movies based on back‐of‐ envelope‐calculation. The number of lost movie sales are 6,3123,667 and approximately Rs 12 billion in Indian rupees as revenue lost due to movie piracy in the year 2019. Finally, Individuals who tend to show greater interests in movies are in fact contributes towards movie sales even though their indulgence in piracy cannot be ignored. [ABSTRACT FROM AUTHOR]

India has been facing the problem of continuing depreciation of its currency against US Dollar over the past few decades. Related existing literatures have identified some factors that may have contributed to this phenomenon. The current paper determines the relative importance of each factor towards currency depreciation in India by means of quantile regression analyses. Our analyses suggest that India's increasing Current Account Deficit (CAD), oil and gold imports, and changes in domestic prices relative to world prices (considered to be an indicator of inflation) are the most significant contributors towards depreciating Indian currency. However, the effects of these factors vary across the distribution of exchange rate. [ABSTRACT FROM AUTHOR]

The paper uses a vector error correction model–multivariate generalized autoregressive conditional heteroskedasticity approach to examine the interrelationship between onshore and offshore nondeliverable forward (NDF) markets for the Indian Rupee. The empirical results suggest a stable and bidirectional long‐run relationship between onshore and offshore markets. The subperiod analysis implies that there are unidirectional mean spillovers from NDF markets to onshore spot, forward, and futures markets during the post‐taper tantrum period. Regarding "volatility spillover," the analysis indicates a unidirectional volatility spillover from spot and forward segments to NDF market in normal circumstances, which turns bidirectional during times of depreciation pressure on the rupee. [ABSTRACT FROM AUTHOR]

Intermodal transportation requires multiple entities to manage diverse resources under complex regulations and contracts. In this paper, we carry out a multidisciplinary cross-functional analysis of container rail haulage pricing and operations in India. We discover that the total haulage cost of a container train unduly depends on the position of the containers within the train, which is referred to here as position arbitrage. The main objective of this paper is to introduce and analyze this new concept of arbitrage for the first time in the literature. We derive the limits to the arbitrage, present management insights and empirical results, and explain that the arbitrage is undesirable because of its adverse effects on the efficiency of the container supply chain. With a real case, we empirically show that container train operators can save an average of 450 million INR annually by exploiting the arbitrage. On completion of dedicated freight corridors, the annual total value of the arbitrage can increase by one billion Indian rupees. This research is also beneficial for the railways to understand the implications of haulage pricing on operational efficiency and also for the port operators and shippers to understand the implications of the arbitrage for their operations. [ABSTRACT FROM AUTHOR]

The current study tries to empirically investigate the hedging and safe haven characteristics of gold against stock markets, crude and foreign exchange movement for India for the period 1 April 2008–31 March 2019 by taking daily closing prices obtained from www.investing.com (converted to returns). The methodology includes using both traditional OLS and quantile regression approaches by setting up both linear and nonlinear relationships amongst the assets. A separate section in the paper has been devoted which covers the Sub-Prime Crisis of 2008. The results of the study showed that gold acted as a hedge asset with respect to Nifty Stock Index and Exchange Rate but not against Crude when the OLS linear and nonlinear models were employed. Further both linear model and nonlinear OLS regression models ruled out the safe haven characteristics of gold with respect to any of the three assets. However, for quantile regression, hedge characteristics of gold were established at only few quantiles with respect to the same two assets, i.e. Nifty and foreign exchange. With respect to safe haven characteristics of gold under OLS, for both linear as well as nonlinear models, gold did not seem to act as a safe haven, while for quantile models, gold acted as a safe haven only at lower tail(s) for Exchange Rate in the linear model and against Nifty Stock Index for nonlinear model. This shows that quantile regression was able to capture the hedging and safe haven characteristics of gold in a superior manner by doing a comprehensive analysis which was based on eleven different quantiles. Such an analysis is much superior to the traditional OLS which gives only an overall broad assessment of the gold's hedging capacity. Further, the behaviour of gold return as an asset during the sub-period crisis of 2008 was not substantially different from its behaviour during other periods; however, when the yardstick of measurement was changed to return volatility of gold, the behaviour was found to be different from other periods. The asymmetric impact of return on gold with respect to all other assets was also proved in our study. [ABSTRACT FROM AUTHOR]

Economic assets play a key role in the growth of renewable power projects and depend on financial scenarios and policy structures offered by government policies. The focus of the study is to assess the impact of the existing economic scenarios and related government policies on wind and solar power deployment in India. The financial analysis of wind and solar power projects, along with parametric and sensitivity analysis, were performed based on the techno-economic parameters of recent wind and solar energy projects. Factors incorporated into the study are capital cost, annual cash flow, project terminal cost, discount rate, cost of capital, tax rate, capacity factor and technological degradation factor. The results show that the values of levelized cost of electricity (LCOE) calculated for recent wind and solar projects are ₹4.89/kWh ($0.0698/kWh) and ₹4.05/kWh ($0.0578/kWh), respectively, which can be reduced to ₹2.36/kWh ($0.0337/kWh) and ₹2.12/kWh ($0.0303/kWh) through proper amendments to the existing policy, an improved financial framework and technological enhancements. The study will be beneficial to policymakers and project developers, helping to boost the future deployment of wind and solar power projects. (Note: USD ($) was converted to Indian rupee (₹) at an exchange rate of 1$ = 70₹ throughout the paper.) [ABSTRACT FROM AUTHOR]

This paper analyzes the asymmetric volatility of foreign exchange rates with respect to the Indian rupee by identifying associated macroeconomic regimes in India. The paper aims to analyze the volatility spillovers and other relationships of the Indian rupee (INR) with respect to the US dollar (USD), Canadian dollar (CAD), British pound (GBP), Swiss franc (CHF) Japanese yen (YEN) and the euro (EUR) for the period 1973-2012. The study makes use of GARCH family models. The results show that the daily exchange rates of all the currencies considered exhibit volatility persistence and conditional autocorrelation. It is also found that the impact of exchange rate innovations on the conditional variance of the foreign exchange return series varies across the macroeconomic regimes. [ABSTRACT FROM AUTHOR]

The long run dynamics of Indian foreign exchange market with respect to Indian Rupee-US Dollar spot rate can be attributed to interplay of several domestic, foreign and global factors. This paper attempts to identifies whether there exists any long term equilibrium relationship among macroeconomic variables of India and US, Indian Rupee-Euro spot rate, Indian Rupee-Yen spot rate, Indian Rupee- UK Pound spot rate and Indian Rupee-US Dollar spot rate. Time series analysis has been undertaken for ten year period of April, 2005--March, 2015 using monthly data of these variables. The variables considered are money stock (India and US), nominal long run bond yield (India and US), commodity price levels (India and US), stock prices (India and US), forward premium in Indian rupee-US dollar forward market, foreign exchange reserves with Reserve Bank of India, Indian rupee-euro spot rate, Indian rupee-British pound spot rate and Indian rupee-Japanese yen spot rate. Johansen's co-integration analysis indicates that all Indian and US macroeconomic variables and other currency pairs of rupee are in a long run relationship with rupee-dollar spot rate. [ABSTRACT FROM AUTHOR]

Energy in different forms is required to drive a nation's growth and its sustenance. However, a significant issue that plagues the world is exploitation of fossil fuel negligently, for domestic and commercial requirements. The Government of India (GoI) has devised its renewable energy policies to encourage and promote the use of renewable energy sources in an efficient manner. In this paper, feasibility is explored for employing solar PV power generation at a wind power generation site through hybridization such that power production can be improved throughout the year. Simulation studies have been conducted for the site using RETScreen to analyze hybrid power generation at Harapanahalli in Karnataka, India. The wind farm has 18 wind turbine generator (WTG's) installed, having 2 MWe capacities each, producing 36 MWe supplied to the local grid. By using sun path and shadow analysis for the site, it is calculated that 344,531.25 m2 of shadow‐free space is available which can be suitably used for alternate methods of power generation. From the present analysis, it is predicted that annual power generation capacity of the site can be improved by about 90% on adopting hybrid power generation. The project cost is pegged at 188 crores Indian rupees (INR) and the payback period of the hybrid system was ascertained to be approximately 7 years. [ABSTRACT FROM AUTHOR]

Intermodal transportation requires multiple entities to manage diverse resources under complex regulations and contracts. In this paper, we carry out a multidisciplinary cross-functional analysis of container rail haulage pricing and operations in India. We discover that the total haulage cost of a container train unduly depends on the position of the containers within the train, which is referred to here as position arbitrage. The main objective of this paper is to introduce and analyze this new concept of arbitrage for the first time in the literature. We derive the limits to the arbitrage, present management insights and empirical results, and explain that the arbitrage is undesirable because of its adverse effects on the efficiency of the container supply chain. With a real case, we empirically show that container train operators can save an average of 450 million INR annually by exploiting the arbitrage. On completion of dedicated freight corridors, the annual total value of the arbitrage can increase by one billion Indian rupees. This research is also beneficial for the railways to understand the implications of haulage pricing on operational efficiency and also for the port operators and shippers to understand the implications of the arbitrage for their operations. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this paper is to examine whether volatility implied from dollar-rupee options is an unbiased and efficient predictor of ex post volatility, and to determine which options market is a better predictor of future realized volatility and to ascertain whether the model-free measure of implied volatility outperforms the traditional measure derived from the Black–Scholes–Merton model. Design/methodology/approach: The information content of exchange-traded implied volatility and that of quoted implied volatility for OTC options is compared with that of historical volatility and a GARCH(1, 1)-based volatility. Ordinary least squares regression is used to examine the unbiasedness and informational efficiency of implied volatility. Robustness of the results is tested by using two specifications of implied volatility and realized volatility and comparison across two markets. Findings: Implied volatility from both OTC and exchange-traded options is found to contain significant information for predicting ex post volatility, but is neither unbiased nor informationally efficient. The implied volatility of at-the-money options derived using the Black–Scholes–Merton model is found to outperform the model-free implied volatility (MFIV) across both markets. MFIV from OTC options is found to be a better predictor of realized volatility than MFIV from exchange-traded options. Practical implications: This study throws light on the predictive power of currency options in India and has strong practical implications for market practitioners. Efficient currency option markets can serve as effective vehicles both for hedging and speculation and can convey useful information to the regulators regarding the market participants' expectations of future volatility. Originality/value: This study is a comprehensive study of the informational efficiency of options on an emerging currency such as the Indian rupee. To the author's knowledge, this is one of the first studies to compare the predictive ability of the exchange-traded and OTC markets and also to compare traditional model-dependent volatility with MFIV. [ABSTRACT FROM AUTHOR]

This paper studies strategic consumer shopping behavior in response to a macroeconomic policy and quantifies its unintended consequences for retailers vis-à-vis the policy goal. Using transaction-level data from a large retail chain in India, we document consumer strategies that leverage retailers to avoid costs associated with the country's currency reform policy. We observe both an increase in returns of cash-purchased items that were bought before demonetization (strategic returns) and a spike in final (unreturned) cash purchases with soon-to-be-illegal notes (strategic purchases). Both practices serve consumer incentives either to receive legal notes from the retailer or to avoid depositing cash in formal bank accounts. Our analysis suggests that strategic consumers hindered the intended policy effect while partly benefiting the retail chain, leaving 20 million Indian rupees (INR) ($0.3 million) of demonetized notes outside the formal tax network through this retail chain only; when we scale up the estimates to the country's market size, the estimated total impact reaches 100 billion INR ($1.5 billion). Our findings offer implications for policy makers by quantifying a wide spillover effect of government interventions that goes beyond the target group and document a new role of the retail industry: of absorbing and facilitating a response to macroshocks. History: Avi Goldfarb served as the senior editor for this article and Nitin Mehta served as the associate editor for this article. Funding: Chintagunta thanks the Kilts Center of Marketing at the University of Chicago for financial support. Supplemental Material: The online appendix and data are available at https://doi.org/10.1287/mksc.2022.1358. [ABSTRACT FROM AUTHOR]

The Reserve Bank of India (RBI) used exceptional monetary measures to address the taper tantrum-induced exchange market pressure on the rupee in the third quarter of 2013. This paper provides theoretical and empirical justifications for using the monetary policy to defend the exchange rate under exceptional circumstances, and also outlines certain preconditions which may determine the success of such a policy response. The empirical hypothesis on the effectiveness of an interest rate defence has been examined using four alternative approaches: first, the conventional monetary approach to exchange rate; second, uncovered interest rate parity (UIP) condition in the presence of timevarying risk premium; third, impact assessment in a vector auto regression (VAR) framework; and fourth, a comparative quantitative assessment of the costs associated with depreciation of the rupee relative to a higher interest rate for the Indian corporate sector in a panel regression framework. The scope for different policy inferences that could be derived from the results of alternative approaches highlight the need for a careful assessment of preconditions while designing and applying monetary measures to stabilise the exchange rate. [ABSTRACT FROM AUTHOR]

Highlights • This paper use coping cost approach to measure affordability to access safe water. • Monthly coping costs are INR 553 and INR 658 for piped and non-piped households. • For non-piped households, collection costs constitute 22% of the coping costs. • Coping costs are as high as 15% for the low income households. Abstract Sustainable Development Goal 6.1 is "to achieve universal and equitable access to safe and affordable drinking water for all". To measure affordability of accessing clean water, coping cost approach has been adopted, and this paper contributes to the burgeoning empirical literature on measuring affordability. The objective of this paper is to estimate coping costs related to the erratic, unsafe, and inadequate water supply in the metropolitan area of Chennai, India. Based on the data collected from 423 households, we find that households in Chennai city resort to five main types of coping behaviors: collecting, pumping, treating, storing, and purchasing. We employ the multiple regression with robust errors, to estimate the determinants of the coping costs. We obtain the mean coping costs as INR (Indian Rupee) 553, and INR 658 per month for piped and non-piped households in this sample. For non-piped households, collection costs (time costs in traveling and queuing for collecting water) constitute 22% of the coping costs, while collection costs for piped households are less 2% of the coping costs. One interesting finding is the variation of coping costs with household income—these costs are roughly 1% of income for the high income households to as high as 15% for the low income households. The results outline the need of policy intervention to enhance affordability. [ABSTRACT FROM AUTHOR]

Predicting currency movements is perhaps one of the hardest exercises in economics as it has many variables affecting its market movement. This study concerns with some of the usual macroeconomic variables which, in theory, are expected to affect the exchange rate between two countries. Indian Rupee is currently losing its value to the Dollar which could certainly be seen to affect the Indian economy adversely. This paper attempts to investigate the interactions between the foreign exchange and stock market in India as well as determine some of the economic factors which could have influenced the Indian rupee vis-à-vis the US Dollar over the period 1990-2011. This paper studies the effect of exchange rate on three market indices; BSE Sensex index, BSE IT sector index and BSE Oil & Gas sector index for the period January 2006 to March 2012. No significant interactions were found between foreign exchange rate [USD/INR] and stock returns. Economic variables like inflation differential, lending interest rates and current account deficit (as a percentage of GDP) are found to significantly affect the exchange rate [USD/INR]. This study also analyzes how the real GDP of India is currently behaving with respect to the exchange rate. It is found that they share a negative relationship which is highly statistically significant. [ABSTRACT FROM AUTHOR]

Emphasizing the need for risk mitigation arising out of excess volatility in rupee experienced by India post implementation of the market determined exchange rate regime in 1993, currency futures were introduced in India in 2008, and currency trading has become one of the most important financial operations since then. In this paper, an attempt has been made to measure and compare the market risk prediction ability of historical simulation, Monte-Carlo simulation, Exponentially Weighted Moving Average (EWMA) and linear parametric VaR approaches for Indian currency spot and futures market. Using the data from 2008 to 2013, the VaR associated with the three main currencies in the economy, namely, US dollar, euro and UK pound sterling, is calculated. Conditional and unconditional coverage tests have been applied to backtest the results of various VaR approaches. The results indicate that Monte-Carlo simulation is appropriate in predicting market risk. Further, it is also found that risk seems to be higher in the future market as compared to the underlying markets. [ABSTRACT FROM AUTHOR]

Almost all studies that have estimated trade models have relied upon trade in tangible commodities. However, a new direction today is to consider trade in service sectors to identify the sectors that could benefit from currency depreciation. This new literature is in its infancy, and we add to this emerging literature by considering India's trade in eight service sectors/categories. We followed two approaches of symmetric (linear) and asymmetric (nonlinear) estimation methods and considering that the two approaches complement each other, we found that the outpayments and inpayments of all the eight sectors respond to changes in the effective exchange rate of Indian Rupee in the short run. But in the long run, only six service categories are affected. The two unaffected sectors are insurance and travel. [ABSTRACT FROM AUTHOR]

The trading of natural rubber derivatives in the Indian commodity exchanges was banned several times in the past. Hence, in India, the derivatives on natural rubber are not traded actively and regularly. We have examined the possibility of a forecast model and a cross hedge tool for the natural rubber price by using crude oil futures in India. Results of the Johansen cointegration test proved that there is no cointegration equation in the model; hence, there is no scope to develop long-run models or error correction models. We have developed a vector autoregressive [VAR(2)] model to forecast the rubber price, and we examined the possibility of a cross hedge for natural rubber further by using the Pearson correlation coefficient and Granger causality test. We have extended our research to a structural VAR analysis to examine the effect of crude futures and exchange rate shocks on the natural rubber price. Our results showed that there is a short-term relationship between the crude oil futures price, the exchange rates of the US dollar to the Indian rupee, the Malaysian ringgit to the Indian rupee and the Thai baht to the Indian rupee; and the natural rubber price in India. The effort of policymakers to cause the Indian rupee to appreciate against the Thai baht and Malaysian ringgit may increase the natural rubber price in India. Natural rubber traders, growers and consumers can use crude futures to hedge the price risk. The Indian Rubber Board can suggest the VAR(2) model to predict the short-run price for natural rubber. [ABSTRACT FROM AUTHOR]

India and China are the two emerging economies of the world. They are the two most populous countries in the world who together account for more than a third of the world's total population. A descriptive research study has been carried out for investigating the Gross Domestic Product of India and China in nominal and purchasing power parity basis. It also compares per capita gross domestic product and GDP growth rate of India and China. It also investigates the trends in the value of Chinese Yuan Renminbi (CNY) with Indian Rupee (INR). This paper also exhibits the market share in Foreign Direct Investment in Asia Pacific region in 2015. The dramatic rise not only enabled socioeconomic upsurge of India and China but it also reshaped the regional and global trade trends. India replaced China as leading recipient of capital investment in Asia-Pacific with announced FDI of $63bn, as well as an 8 per cent increase in project numbers to 697. India faced various structural bottlenecks including delays in project approval, ill-targeted subsidies, a low manufacturing base and low agricultural productivity, difficulty in land acquisition, weak transportation and power networks, strict labour regulations and skill mismatches. [ABSTRACT FROM AUTHOR]

The study examines the role of foreign direct investment (FDI) in shaping the export trajectory of the Indian automobile sector. The study uses VECM technique to determine the existence of cointegration between FDI inflows and exports of automobile industry, and to check the long-run and short-run dynamism among the variables. It uses annual time series data on exports and FDI inflows in the industry by considering Indian rupee real effective exchange rate (REER) and world GDP as control variables. The study finds that FDI inflows positively and significantly affect the exports of automobile industry in India in the long run. The findings also validate the J-curve theory of effect of depreciation on the exports of automobile industry that depreciation of Indian rupee has a favorable effect on the exports or trade balance of this industry. The study finds a significant relationship between FDI inflows and exports in only one direction, i.e., running from FDI inflows to exports of the industry. Furthermore, the results show that there is bidirectional causality between India’s rupee REER and FDI inflows in automobile industry. The results suggest that providing a conducive environment to foreign players would positively impact the exports of the automobile industry. [ABSTRACT FROM AUTHOR]

Against the background of international scenario of exchange rate volatility, the present paper analyzes rupee volatility and its impact on the macroeconomic variables of India considering data for the period 1997-2013. The evidence shows that the exchange rate volatility of India is not purely a domestic phenomenon. Further, the results of log-log regression model show that the negative impact of depreciation is limited to inflation and trade balance. All other variables show positive impact. Thus, strong empirical evidence is obtained to conclude that the impact of appreciation on macroeconomic variables is higher as compared to that of depreciation on these variables. [ABSTRACT FROM AUTHOR]

Background: Pediatric intensive care unit (PICU) admissions can have significant repercussions on families, including financial burdens and psychological distress. Not only do they face the overwhelming concern for their child's health and well-being, but they are also confronted with a range of practical and financial difficulties. Coping strategies play a vital role in mitigating the negative impact of PICU admissions on families. Various coping mechanisms, such as seeking social support, engaging in problem-solving, and utilizing emotional regulation techniques, can help families navigate the challenges they face. The objectives of the study are to understand the array of financial implications in the form of out-of-pocket expenses (OOPE) and to quantify with a better understanding of the composition of out-of-pocket expenses in the form of medical and non-medical expenses. It also aimed to determine the loss of productive hours in a family and to understand the burden of OOPE in relation to the income of the family. Methods: This prospective observational study was conducted in the pediatric intensive care unit (PICU) of a tertiary care hospital over a period of 6 months after obtaining permission from the institutional ethics committee. Data pertaining to financial burden was collected with the help of Structured questionnaires which included the following categories travel, meals, accommodation, and incidental expenses were considered as non-medical expenses while all medicine costs and investigations were considered as medical expenses. The quantitative data were presented as the means ± SD as median with 25th and 75th percentiles (interquartile range) and were analyzed using ANOVA (for more than two groups) and independent t test (for two groups). Results: More than half of the children (39(55.71%)) were not enrolled under any government scheme. The mean value of total medical and non-medical costs was 2525 ± 4035.28 and 2234.29 ± 846.84 Indian rupees. The mean value of total out-of-pocket expenses incurred per day (Indian rupees) on day 1, day 2, day 3, day 4, and day 5 were 1304 ± 587.2, 1208.86 ± 3773.84, 814.57 ± 565.03, 807.71 ± 522.76, and 699.86 ± 807.02 respectively. Conclusion: Families of children admitted to the pediatric intensive care unit incurred catastrophic health expenditure with the cost of medicine contributing a major share. The lowest income brackets had much higher, more than twice the financial burden compared to the higher income group. Almost all families experienced a high loss of productivity in the form of a number of days lost due to the PICU admission of a child. Enrolment in government schemes helped to reduce OOPEs though better coverage of these schemes is needed. [ABSTRACT FROM AUTHOR]

This paper investigates the effects of the East Asian crisis on the Indian economy and exchange rate movements. Despite the contagion effects that profoundly affected the other crisis-hit countries, the Indian economy and the rupee were found less affected. Reforms after the 1990–1991 crisis, control of capital flows, weak economic linkages with crisis-affected countries and stabilization policies that include intervention in the foreign exchange market and tightening of monetary policy are reasons for the insulation of the Indian economy from the crisis. [ABSTRACT FROM AUTHOR]

Evaluates the factors that affect the economic capacity of the Indian market. Gap between the international value of the Indian rupee and its domestic value; Linkages between the international and Indian business environment; Sales of super computers and aviation system.

This paper examines the spatial implications of India's new economic policy operating through two instrumentalities of stabilisation and structural adjustment. Stabilisation is aimed at correcting the balance of payments situation and reducing the deficit in the Union government budget, which has had an adverse effect on social development, employment generation, and poverty alleviation in hill, tribal, drought prone and other backward areas. Devaluation of the rupee benefitted the major foreign remittance receiving states like Kerala, Gujarat, Punjab and Tamil Nadu. Structural adjustment, through rationalisation of trade, industrial, agricultural, human resource development, and power policies had spatial implications of varying nature. Trade policy enhanced investment attraction of big urban industrial centres; industrial policy attracted foreign direct investment in mineral-rich backward states; and export orientation in agriculture was to a greater advantage of rice and cotton producing states. Reduction in subsidies for fertilisers had more serious implications for the agriculturally backward states. Higher tariffs in the power sector were to the disadvantage of Punjab, Haryana, Tamil Nadu and Kerala. Urban-rural and inter-state disparities in social development widened, with relatively lower allocations to education and health. On balance, though new economic policy offers new opportunities it does have a spatially differential impact. [ABSTRACT FROM AUTHOR]

By looking at the September 1949 devaluation dilemma faced by the governments of Pakistan and India, this article argues that it was an early episode of divergence between them following partition. The reasons why Pakistan did not devalue when India did so have remained largely obscured in the historiography. Deeply contested, the decision was a determining event through which the state staked its claim for economic sovereignty, internally and externally. It led to a 17-month-long official trade deadlock, especially in the eastern region of partitioned Bengal. It ended when the two governments established an exchange ratio for the two rupees, no longer at par with each other. This interactive delinking of currencies was symptomatic of the improvisational decoupling of the colonial subcontinent's post-colonial states. In tracing its trajectory, this article contributes to the inconsiderable literature on why devaluation did not happen in Pakistan, revises the rationale offered, and presents the event as a contingent exercise in economic decolonization, generative of a post-colonial sovereign difference. [ABSTRACT FROM AUTHOR]

Pigeonpea (Cajanus cajan (L.) Millsp.) is grown globally for its protein rich seed. Low availability of soil nutrients adversely affects the seed yield of pigeonpea crop in alfisols (acidic soils). The present investigation was conducted to assess the effect of integrated nutrient management practices on productivity, profitability and quality of pigeonpea cultivation in the Eastern Ghat High Land Zone of Odisha, India. Field experiment was conducted for three consecutive kharif (rainy) seasons of 2015, 2016 and 2017 with seven treatments [absolute control, 100% recommended dose of NPK fertilizer (i.e., N:P2O5:K2O @ 25:50:50 kg ha−1), 100% NPK + lime @ 0.2 lime requirement or LR, 75% N + 100% PK + Rhizobium @ 20 g kg−1 as seed inoculation + PSB @ 5 kg ha−1 as soil application, 75% N + 100% PK + Rhizobium + PSB + lime, 50% N + 100% PK + Rhizobium + PSB, and 50% N + 100% PK + Rhizobium + PSB + lime], replicated thrice, taking pigeonpea cv. VL-Arhar-1 as test crop under a randomized block design. It was observed that productivity, quality and nutrient uptake of pigeonpea were higher in 75% N + 100% PK + Rhizobium + PSB + lime treated plots over other nutrient management treatments and absolute control treatment. Similarly, maximum gross return (Indian Rupees or INR 72,183 ha−1), net return (INR 49,118 ha−1) and benefit:cost ratio or B:C ratio (3.13) were recorded from combined application of 75% N + 100% PK, Rhizobium, PSB and lime treated plots. [ABSTRACT FROM AUTHOR]

Effective broad-spectrum herbicides are needed to address the issues of herbicide resistance and weed shifts in common cropping systems. A field experiment was conducted in 2016 and 2017 in West Bengal, India to compare the performance of three post-emergence herbicides (bispyribac-sodium; fenoxaprop-p-ethyl; penoxsulam) in monsoon rice (Oryza sativa L.) and their residual effects on succeeding rapeseed (Brassica rapa L.). Rice yield loss due to competition with Echinochloa colona (L.) Link, Leersia hexandra Sw., Cyperus iria L., Ludwigia parviflora L., and Monochoria vaginalis (Burm f.) C. Presl. Ex Kunth was 64% compared with weed-free control. Bispyribac-sodium 10% SC applied at 30 g a.i. ha−1 20 days after transplanting reduced weed density over the weedy control, ranging from 37% (M. vaginalis) to 87% (L. hexandra). Fenoxaprop-p-ethyl and penoxsulam applied, respectively, at 86 and 20 g a.i. ha−1 were effective in controlling grasses, but less effective against sedges and broadleaves. Bispyribac-sodium application resulted in highest rice yield (5.45 t ha−1), net return (Indian Rupees 42,677 ha−1), and benefit cost ratio (1.72). Bispyribac-sodium had neither adverse effect on soil microbes nor phytotoxic effect on rice and subsequent rapeseed. We recommend bispyribac-sodium for weed control in transplanted rice under rice-rapeseed system in eastern India. [ABSTRACT FROM AUTHOR]

Copyright of Industria Textila is the property of Institutul National de Cercetare-Dezvoltare pentru Textile si Pielarie and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

In his address to nation on 8th November, 2016, prime minister of India Sh. Narendera Modi suddenly announced the demonetization of high denomination currency notes of Rs500 and Rs 1000. Whole economy got panicked on this sudden move of the government. All the economy felt immediate effects. Some sectors of economy started growing at very fast rate whereas some suffered a considerable loss. This research paper tried to analyze the effects of demonetization on the key sectors of the economy. It was found the digital payment companies, banks etc. got benefitted from demonetization, whereas some sectors such as reality, MSME got a considerable downfall. [ABSTRACT FROM AUTHOR]

Currency derivatives are futures and options contracts in which a definite sum of a specific currency pair is dealt on a pre-set date in the future. Trading currency derivatives is like dealing with stock and futures options. However, the underlying resources are currency pairs such as US Dollar - Indian Rupee (USDINR) or Euro Indian Rupee (EURINR) and not stocks. Currency options and currency futures are transacted on the surroundings of foreign exchange market. The foreign exchange rate is the worth of a foreign currency in contrast to the home currency. The core partakers in currency dealing in India are banks, corporations, exporters and importers. The main objective of this study is to analyse the trading mechanism of currency derivatives in India regarding volume of contracts and number of trade and its performance between the period May 2021 to April 2022. The findings of the study make a case for improving market access to enhance competition which may result in better currency derivative trading for investors. [ABSTRACT FROM AUTHOR]

Copyright of International Research Journal of Business Studies is the property of Prasetiya Mulya Publishing, Universitas Prasetiya Mulya and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Forecasting stock markets and individual stocks has been a well-researched area in the world of finance. Fundamental and technical analysis is widely used by investors in analysing stock prices. Researchers have used various methods to predict stock prices such as Hidden Markov models, genetic algorithms and neural networks (Enke, Grauer, and Mehdiyev, 2011; Hassan, Nath, and Kirley 2007). Time series analysis is used in forecasting asset prices (Long et al, 2021; Eita, 2012). Indian private sector banks are among the best-performing stocks on the Indian stock exchanges over the last decade, as they have consistently captured market share from their public sector counterparts. ARIMA is a useful technique to forecast stock and stock index prices (Box and Jenkins, 1970). This study aimed to evaluate the effectiveness of the ARIMA model in forecasting private bank stock prices in India. Forecasted values differed from actual prices, suggesting markets may be efficient and other variables may also prove to be influential in forecasting Indian private bank stock prices. [ABSTRACT FROM AUTHOR]

The study investigates the interactions between changes in the exchange value of Indian rupee for dollar and euro, and returns on different indices of National Stock Exchange (NSE) in the Indian stock market using daily data of the last ten years. Sensitivity of dollar and euro is computed using Adler and Dumas (1984) model, along with impulse response function with some modifications. [ABSTRACT FROM AUTHOR]

Abstract: This paper outlines a methodology to identify informal settlements out of high resolution satellite imagery using the concept of lacunarity. Principal component analysis and line detection algorithms were applied alternatively to obtain a high resolution binary representation of the city of Hyderabad, India and used to calculate lacunarity values over a 60 × 60 m grid. A number of ground truthing areas were used to classify the resulting datasets and to identify lacunarity ranges which are typical for settlement types that combine high density housing and small dwelling size – features characteristic for urban slums in India. It was discovered that the line detection algorithm is advantageous over principal component analysis in providing suitable binary datasets for lacunarity analysis as it is less sensitive to spectral variability within mosaicked imagery. The resulting slum location map constitutes an efficient tool in identifying particularly overcrowded areas of the city and can be used as a reliable source in vulnerability and resilience assessments at a later stage. The proposed methodology allows for rapid analysis and comparison of multi-temporal data and can be applied on many developing urban agglomerations around the world. [Copyright &y& Elsevier]

Reduced-form estimates of the Reserve Bank of India's (RBI) first-order condition indicate that its preferences have been asymmetric with respect to exchange-rate management, with the response to the rate of rupee appreciation being relatively larger than to the rate of rupee depreciation of the same magnitude. This behaviour is shown to account for a sizable fraction of reserve accretion in recent years. [ABSTRACT FROM AUTHOR]

Keynes's work on India before the First World War concentrated on analysis of the gold exchange standard and the stabilization of the rupee external value. Indian monetary arrangements were framed into a plan for foreign investment, implemented by the India Office in London. This policy, which was a typical example of public control over investments, occasioned Keynes's first job as an applied economist. Although neglected by Keynesian scholarship, this learning by doing experience is likely to have played a significant role in the young economist's training and education. [ABSTRACT FROM AUTHOR]

The foreign exchange market and the stock markets in India are among the most important financial markets that are constantly being monitored by the investors, regulators, and the policy-makers. The present study makes an attempt to investigate whether any causal relationship exists between the foreign exchange market and the stock markets in India. The BSE and the NSE annual returns have been used as a substitute for the stock prices, while the currency rate of Indian Rupee against the US Dollar (INR/USD) has been considered as a substitute for the exchange rate exposure covering a time-period of 20 years, from 1 January 2000 to 31 December 2019. The applications of the unit root or Augmented Dickey-Fuller test, Johansen cointegration, and Granger causality tests, as employed in the present study, examined the relationship between the USD/INR exchange rates and Indian stock market indices (SENSEX and NIFTY-50). The Granger causality test indicated that both the BSE and NSE stock indices granger cause INR/USD exchange rates. However, the INR/USD rates do not granger cause the BSE and NSE stock returns. The study has portrayed a unidirectional relation between the stock indices and INR/USD rates, but a bi-directional relation between the BSE and NSE stock returns. [ABSTRACT FROM AUTHOR]

This study compares the efficiency of a non-linear model called artificial neural network with linear autoregressive and random walk models in the one-step-ahead prediction of daily Indian rupee/US dollar exchange rate. We find that neural network and linear autoregressive models outperform random walk model in in-sample and out-of-sample forecasts. The in-sample forecasting of neural network is found to be better than that of linear autoregressive model. As far as out-of-sample forecasting is concerned, the results are mixed and we do not find a "winner" model between neural network and linear autoregressive model. However, neural network is able to improve upon the linear autoregressive model in terms of sign predictions. In addition to this, we also find that the number of input nodes has greater impact on neural network's performance than the number of hidden nodes. [ABSTRACT FROM AUTHOR]