Journal of Applied Management- Jidnyasa

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Banks are the lifeblood of an economy. The economic growth a country has a direct relationship with the structure and strength of banking industry of the country. Banks offer a large gamut of financial products and services to retail customers such as savings account, deposits, loans, ATMs, debit and credit cards, cheque and draft facility, locker facility, universal banking, internet banking, mobile banking etc. and it is really difficult to imagine the life of individuals without these services in today's world. As banks offer more or less similar types of products and services and it is a matter of depositing one's hard earned money, it is really interesting to know what factors determine the selection of a commercial bank by various individuals for opening a bank account or for a bank deposit or for other financial services that matter.

This study is an attempt by the researchers to find out the important factors that determine the selection of a bank by various people. Researchers have not only tried to find out such factors but have also arranged them in the order of their importance. For this purpose, researchers have conducted a survey of 300 retail banking customers of Gwalior with the help of a standard questionnaire and have used the technique of factor analysis for analyzing their responses and finding out dominant factors. The study uses sixteen research variables that by and large determine the selection of a bank which are finally grouped into five factors after the analysis.

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Micro, Small and Medium Enterprises popularly known as MSMEs, are the ischolar_mains of growth of industrialization in a country. MSMEs, post-independence, have emerged as dynamic and vibrant sector of Indian economy. MSMEs play a significant role in elimination of economic backwardness of rural and underdeveloped regions of the country, assist big industries in their growth, and help in making the best use of various resources of the country. MSMEs are major source of employment in many areas of the country and are contributing immensely in the prosperity of the area thus leading to reduction of disparities in income, wealth and consumption. MSMEs sector has a major role in Indian economy as it has around 45% share in national industrial output, around 70% in industrial employment and approximately 40% in exports.

This paper is an attempt to study the current status of micro, small and medium enterprises in the country. Performance of MSMEs after liberalisation and their future prospects have been studied in detail. Researchers have also tried to find out major problems and challenges being faced by MSMEs in India. Important policy initiatives taken by government and various schemes started for the growth of MSMEs in India have also been discussed in the paper.

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Abstract

Banks are the lifeblood of an economy. Structure and strength of banking industry of a country has a direct bearing on its economic growth. Banks offer a large gamut of financial products and services to retail customers such as savings account, deposits, loans, ATMs, debit and credit cards, cheque and draft facility, locker facility, universal banking, internet banking, and mobile banking etc. and it is really difficult to imagine the life of individuals without these services in today‘s world. As banks offer more or less similar types of products and services, it takes strategic thinking and lot of efforts on the part of a bank and its employees to carve a niche for itself and make its customers really satisfied.

This study is an attempt to find out the level of satisfaction of retail banking consumers regarding the services and operations of three most prominent private sector banks operating in Gwalior city i.e. ICICI Bank, HDFC Bank and Axis Bank. Researchers have constructed satisfaction index of retail banking consumers of these three banks related to eleven important parameters. Then, a comparison has been drawn among these banks on the basis of these satisfaction index values. For this purpose, researchers have conducted a survey of 300 retail banking consumers of Gwalior. The study reveals that although there is a tough competition among these three banks, HDFC Bank has fared better vis-à-vis other two competitors on most of the parameters. Overall satisfaction index of HDFC Bank is also higher in comparison to ICICI Bank and Axis Bank.

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Stock markets are considered to be important part of financial markets. They provide the investors with a wide range of alternatives to choose from for the purpose of investment and generating returns. At the same time, they also provide a platform to corporates for issuing various securities and arranging funds. Stock market indices not only reflect the situation of stock markets but they also reveal health of the economy. In fact, they are referred to as barometer of an economy. Share prices do not move in vacuum rather their movement is affected by a large number of macroeconomic as well as industry specific and company specific factors.

This study has been undertaken with the objective of measuring the impact of two important macroeconomic factors i.e. Index of Industrial Production (IIP) and Foreign Exchange Rate (US Dollar-INR) on the movement of share prices in Indian Stock Market. For conducting this study, BSE Sensex has been used to represent the movement of stock prices in India. BSE Sensex is one of the most popular Indian stock market indices. It is a well-diversified index of Bombay Stock Exchange consisting of 30 large cap companies representing most of the important sectors of Indian economy. The study has been conducted over a period of 32 quarters ranging from financial year 2011-12 to 2018-19. Researchers have used Correlation and Regression Analysis for conducting the study and drawing the conclusions. The study reveals that both these macroeconomic parameters i.e. IIP and Exchange Rate have an impact on Indian stock market. IIP has positive and strong impact while exchange rate has negative and relatively weak impact on Sensex.

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Out of various investment alternatives, equity shares are one of the most popular as well as fascinating alternative. Although they carry high risk, they have a potential to generate higher returns in comparison to most of the other investment alternatives. Therefore, equity shares are not only preferred by individual investors but also by institutional investors. While selecting stocks for investment, rational investors take their decisions on the basis of large number of factors but two of them are most important i.e. Risk and Return. Modern portfolio theory also emphasises on using these two parameters while analysing and selecting stocks for the purpose of investment.

This study is an attempt to analyse and compare ten prominent stocks each from two important sectors of Indian economy i.e. Automobile and Pharmaceuticals on the basis of their risk and return. Researchers have not only analysed these stocks using their total risk but have also used their beta factors, systematic risk as well as unsystematic risk for a rather comprehensive analysis. Sharpe’s ration has also been used to analyse these stocks in terms of the risk-adjusted returns generated by them. The study reveals that among the stocks of two chosen sectors, stocks of pharmaceutical sector generated higher return and that too at relatively lower risk. Stock of the pharmaceutical company Abbott India Ltd has the highest value of Sharpe’s ratio during the study period.

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