EDITORIAL BOARD About SRMS College of Engineering & Technology Bareilly

Chief Patron Shri Ram Murti Smarak College of Engineering & Technology Shri Dev Murti has an independent residential campus spread over 35 acres of Chairman, SRMS Trust (Bareilly & Lucknow) land with all weather roads, lush green lawns, playgrounds, Multi-Purpose Hall, Gymnasium, Squash Court and 53020 sq.m. of built up area on the campus. The campus is Patron aesthetically planned and designed with exquisite facilities. Shri Aditya Murti Secretary, SRMS Trust The college offers courses of undergraduate and postgraduate (Bareilly & Lucknow) levels, with a professional or vocational orientation to internationally recognized standards of excellence. All courses lay emphasis on practicals and are multi-disciplinary in Advisory Committee approach. The college inculcates Values, Ethics in its students, Professor Syamal Gupta so that the PRIDE of SRMSCET will become the ASSET of Director our Nation. Shri Ram Murti Smarak International Business The College has demonstrated the perennial evidence for merit School, Lucknow and quality. It is developing by leaps and bounds in terms of Professor A.M. Agarwal infrastructural facilities and human capital not only to fulfill the (Former Director, Birla Institute requirements of the current technological status but also to set of Technology International itself as teaching and research centre of eminence in future. Centre, Muscat, UAE)

Professor A. K. Sarkar 20 YEARS OF QUALITY BASED EDUCATIONS : (DMS, M.J.P. Rohilkhand University, Bareilly) ØCollege has been selected for the Technical Education Quality Improvement Programme of National Project Professor K.C. Prasad (Dean, Faculty of Science, Implementation Unit of the Government of India financed Ranchi University, Ranchi) by the World Bank. ØAll B.Tech courses are accredited by NBA. Professor H.P. Mathur Ø (FMS, BHU, Varanasi) The College is a STAR Performer College of UPTU and winner of Excellence award in B.Tech., B.Pharm, MBA & MCA in year 2009 and 2010 continuously. Editor-in-Chief ØRanked among best of all private colleges and government Dr. Anant Kumar Srivastava colleges of UP Technical University in term of Gross Professor Average Intellectual Attainment Per Student Faculty of Management Science Ø Shri Ram Murti Smarak Winner of Academic Excellence Award of UPTU for College of Engineering & MBA, B.Tech and B.Pharm in 2008 Technology, Bareilly ØWinner of Academic Excellence Award of UPTU for MBA, B.Tech and B.Pharm in 2009 i Editor ØConsistently ranked number 1 for its MBA course among Prof. (Dr.) Mamta Gaur all institutions of UPTU. Professor and Faculty Incharge ØWinner of National Awards for excellence in education - Faculty of Management Science Shri Ram Murti Smarak 2011 in Indian Education Congress -2011 College of Engineering & ØApproved institutions for organizing INSPIRE by DST Technology, Bareilly Govt of India Ø Winner of National Employability Award -2012 by AMCAT Associate Editor ØMOU with ICICI Bank for foundation course in Banking Mr. Abhishek Gupta Assitant Professor for MBA students Faculty of Management Science Ø MOU with TCS and INFOSYS to run value addition Shri Ram Murti Smarak courses College of Engineering & Ø Technology, Bareilly Edupreneurs Award -2013 to the Chairman of this college ØInstitutional Memberships of NASSCOM, NHRDN, AIMA, CSI, RMA, AIMS Designer ØOver 7000 Alumni working at leading positions in reputed Mr. Pramod Sharma companies of India and abroad ØExcellent and valid placement record for all eligible students

Editorial Office Faculty of Management Science Shri Ram Murti Smarak College of Engineering & Technology, Bareilly Ram Murti Puram, 13 Km Bareilly-Nainital Road, Bareilly (U.P.), India Ph.: 91-581-2582331-32, 2582246, 249, Fax : 91-581-2582330 Website : www.srmscet.edu, Email : [email protected]

ii About FMS About Journal (Faculty of Management Science)

Shri Ram Murti Smarak College of Engineering Bizcraft, the Journal of Management Sciences and Technology, Bareilly, (SRMS FMS) is a bi-annual journal with national circulation. UP has been offering its prestigious management programme since 1996. MBA from this college is It publishes original communications of research that advances, illuminates Management science known for its quality & perfection and recognized and that educates the journal readers. by industries for its practical orientations. The alumni of MBA course from this college are Manuscripts dealing management aspects will be considered for publication, provided. They working at leading positions in the companies of contain results of original investigations. Articles repute. The Faculty of Management Science need to be of general interest - e.g., they cross the department also conducts various value addition boundaries of specialties or are of sufficient activities such as Campus Outreach Programmes, novelty and importance that the journal's readers, Management Development Programmes, Faculty whatever their specialty, should be made aware of Development Programmes & Interdisciplinary the findings. Seminars. Research papers reporting original research, review articles, correspondence on published MBA from this college is ranked No 1 in the articles will also be considered. Papers of routine affiliating university since the beginning and nature which are merely records of interesting awarded with Academic Excellence Awards of cases as also those dealing with modifications of the university. A high degree of interaction is routine methodology will not be encouraged. maintained with industries for imparting practical The SRMS FMS prefers the original research training. The department offers comprehensive work done by Faculties or Management for their management education blended with research work. Entrepreneurship development, Case study, The SRMS FMS strongly discourages Economic policy analysis etc. Certification duplication/reduplication of data already courses in Finance,Insurance, International published in other journals. If and when Business, Project management & HR duplication is detected after publishing in SRMS Management provides extra edge to the students FMS, the journal will be forced to 'retract' such of SRMS Bareilly & they are ready by to move articles. from campus to corporate. All papers submitted to SRMS FMS are subject to peer review process. All accepted papers will be The department is having well equipped Class suitably edited before publication. Rooms, Computer Lab, Seminar Halls, Team Rooms etc. to provide best required infrastructure Disclaimer Statement for effective teaching and learning process. In The articles, which are published, in BIZCRAFT order to promote research, the department reflects the personal opinions and view of the publishes management journal Bizcraft (ISSN: author(s) and it do not reflects the view of 2231-0231, BIZCRAFT or the publishing institute itself. The articles are published with the understanding that RNI No: UPEGN/2007/19207) and its newsletter it is the original unpublished work of the author(s) 'Enterpriser'. and it does not contravene with copyright in any form. All cares are taken to remove any type of errors however the editorial board will not be responsible for any type of printing errors.

iii Editor’s Profile Editors Message

Prof (Dr) Mamta Dear Readers, Gaur is Professor I feel really pleased and honored to introduce P r o f e s s o r a n d myself as the incoming Editor of BIZCRAFT Faculty Incharge in Journal of Contemporary Management Shri Ram Murti Perspective . Smarak College of Engineering and Welcome to the BIZCRAFT Journal of T e c h n o l o g y , Contemporary Management Perspective. Bareilly. She was BIZCRAFT is a bi annual, peer reviewed, broad- Dean and PGP Chair scope publication aiming to publish high-quality in Vel tech Business research and expert knowledge on topics that guarantee the functionality of the building stock Prof. Dr. Mamta Gaur School, Vel Tech University before throughout management domain for the taking up current enhancement of research in different areas of assignment . Dr. Gaur has rich and a vast management. The aim of the BIZCRAFT is to experience of 16.9 years in teaching. She is also give a highly readable and valuable addition to the recipient of Best Teacher Award in Financial literature which will serve as an indispensable Management (Vijayavani National Educational reference tool for years to come hence strong Leadership Award) in 2015 during Asia pacific emphasis on interdisciplinary issues has been HRM Congress from 11-12 September 2015. She given as we’re conscious that many complex has received her Master in Business problems in the management require multi- Administration from IMS, Jhansi and Doctorate disciplinary solutions. in Management from Bundelkhand University, We are pleased to publish the Vol. 8, No. 2, which Jhansi. Prior to joining Vel Tech Business includes different issues of international and School, Dr. Gaur was associated with Galgotias domestic trends that are relevant for University, IILM-GSM as a Associate Professor contemporary debate. These issues encompass E- of OB & HR. She has served Institute of banking, Rural Housing Finance, Performance Management Studies and Institute of Economics Appraaisal Practives, Micro Insurance, and Finance, Bundelkhand University as a Occupational Stress & Prospects of Tourism. Assistant professor for 6 years. She carried out As the Editor-in-Chief of the BIZCRAFT, I take both Academic and Administrative roles. this opportunity to express my sincere gratitude to She has Research Gate Score of 3.49 (15 authors who have chosen the BIZCRAFT to Percentile). She has published 27 papers and 17 disseminate their research. Further, I would like articles in the well known national and to thank Managing Editor and other supporting international journals and conferences. She also staff at Shri Ram Murti Smarak College of has 3 case study publications and 3 books to her Engineering and Technology, Bareilly for the credit. success of this Journal. Dr. Gaur has conducted workshop, international Too often we forget that a journal, even a Conferences / seminars in emerging trends in scientific journal, can survive only if it meets the Management, communication skills, training and expectations of its readers and is fruitful to them. development, joyful organizations, leading India However, authors, before being authors, were

iv in Management Education, and knowledge readers; and every new work is – and shall be – management and MDPs for various organizations inspired by a thorough literature search. New such as Madhya Pradesh Electricity Board, UP Jal results shall always be validated by comparing Nigam, SBI- Jhansi and City Hospital- them with the already existing ones. Moreover, Farrukhabad. She has been associated with today’s readers will probably be tomorrow’s Sanjeevani (NGO)¸ Qutub institutional Area¸ authors. If we offer them a qualified, broad insight New Delhi for imparting Training in Counseling on the most innovative works in the management Skills . Has done programmes for managers in field, we not only serve them, but we also private and public sectors on issues in people contribute to educate new generations of authors, management strategies¸ diversity management thus ensuring a bright future for this journal. and employee relations. She commands in We are more than happy to receive contributions teaching Business taxation, Financial for our next issue from academicians, scholars Management ,Strategic Human Resource and practitioners to ensure the consistency and Management and Organizational Behavior the success of the Journal. We welcome through innovative teaching methods. The other comments and suggestions that would advance interest areas of teaching are International the objectives of the Journal and help in Business Management , Global HRM¸ Diversity progressing and improving to meet target of Management , Performance management system¸ quality. I hope that these Volumes will help us to Compensation management , Strategic Change better serve our readers. through People Management Strategy, leadership development, New Industrial Relations¸ and All this can be achieved through constant Social Security Issues for Organized as well as feedback from our readers. So, please, do not Unorganized Sector Workforce and Employment hesitate to contact me with your comments, Law. Her major areas of research and consulting complaints and suggestions. They will surely help are Financial Management and Performance me in making this Transaction more and more M a n a g e m e n t S y s t e m , C o m p e n s a t i o n useful and desirable. Management, HR as Service concept, Creating role directory¸ Strategic Change through People We look forward to welcoming your submissions. Management Strategy¸ Joyful Organization¸ Strategies for Flexibility and Change. With best wishes, Prof. Dr. Mamta Gaur

v Leadership Challenge: Managing the organizational Agility

The rapidly changing business environment and emergence of various faces of globalizations with changing socio-economic scenario have changed the ways of leadership for managing organizational agility and change. The talents of organization and use of those talents at suitable time to solve the unique problem and /or leveraging the existing resources to get advantages are considered as most challenging aspects for the leaders who are managing organizational agility. It is rightly said that a proactive business leadership has to demonstrate different set of behaviours according to the changing needs of the emerging business environment to anticipate and seize opportunities. Hence, the organizations need to think about building a strong leadership at different levels from the existing talent pool that have demonstrated the Dr. Anant Kumar Srivastava right competencies. Editor-in-Chief In the contemporary scenario, the agility and sustainability are the prime requirements for the success of an organization. It requires a demonstrative leadership for meeting the fast pace of the changes that could be considered as examples for everyone in the organization. Managing the agility is emerging as an essential competency for the leaders and it must be compatible to the needs of the changes in various aspects. An organization must be structured to be more nimble and flexible to be compatible with the evolving markets in term of demands and structural changes for fast pace change management with sustainability. According to By Bill Wilder (Director of the Life Cycle Institute), the sustainable and adaptive organizations must consists of ability to change quickly, capacity for the change and minimizing the risks of due change. Accordingly living organizations adapt to their changing environment. It is further quoted by him that organizations that are doing well today are those that demonstrate agility by adapting faster, resilience by adapting more often and project success by mitigating risks. At this stage it is desired that the concept of effective leadership must be understood in term of demonstrative and exemplary leadership to manage organizational agility. In a recently published report of PWC it is mentioned that a successful business leader must shape their organizations to be more nimble and flexible, less hierarchical, and more networked, in short, better organized to deliver value. Hence the focus should be on key emerging

vi business revolutions i.e agility, authenticity, talent, and sustainability. In this context the leader’s ability in form of talent and skills determines the extents to leverage and maximize the values for people. The individual talents and skills with available workforce should be converted into collective intelligence. Managing the collective intelligence and conversion of that intelligence into productive outcome also demonstrate the extent of a supportive culture within the organization. The compatibilities of the ability of people and business processes with the demand of changes and agility need to be balanced in a synergetic way. It requires attention, engagement and motivations along with proactively developed talents for the right people in the right areas. Sometimes, mentoring and coaching are also required. Agility is defined as the ability of an organization to renew itself for adaptation and change quickly according to the needs. It helps in achieving sustainability in a rapidly changing, ambiguous, turbulent business environment. Agility needs dynamic and stable foundations at structural and intellectual level within the organisation. At dynamic capability, the ability to move fast, nimbleness, responsiveness etc are prime considerations. A stable foundation of the organization defines a framework which remains stable relatively. An agile organisation embraces change by moving quickly, decisively and effectively to anticipate, initiate and take advantage of change, yet remains robust enough to absorb any set-backs. Organisational agility is achieved by being responsive and proactive to both internal and external environmental changes. It helps in identifying opportunities as well as challenges and the ability to use available resources in a timely, flexible, affordable and relevant manner, in order to respond to those changes effectively. To manage the agility, the leaders must realize that change is unavoidable in the turbulent global environment as the environment is complex, uncertain, and fiercely competitive. Hence an intentional, proactive approach to change is required for sustainability. It is also expected that emerging threats and opportunities must be continually scanned to leverage the organizational resources productivity. It is said in various thought based literatures that the agile leaders are creative thinkers with a deep sense of purpose. They actively engage diverse stakeholders, influencing and learning from them at the same time. Their ability to examine situations from multiple perspectives and to “connect the dots” between seemingly disparate issues allows them to generate novel strategic insights. As a result, their visions for the future are innovative, purposeful, and compelling. Agile leaders have a broad repertoire of behaviors that allows them to rapidly adjust their leadership style to the demands of any given situation. They give appropriately balanced attention to short-term and long- term priorities, to top-down direction-setting and meaningful participation, and to fostering individual initiative and strong teamwork. In this context it would be justified to quote Hanry Ford . “ A Market is never saturated with good product, but it is very quickly saturated with bad one”

Dr. Anant Kumar Srivastava

vii SHRI RAM MURTI SMARAK COLLEGE OF ENGINEERING & TECHNOLOGY (Faculty of Management Science) BIZCRAFT RNI No. : UPENG/2007/19207 ISSN : 2231 - 0231 SUBCRIPTION FORM

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The Editor Bizcraft Faculty of Management Science SRMS college of Engineering &Technology Ram Murti Puram, 13 KM. Bareilly-Nainital Road Bareilly-243202, Uttar Pradesh, India Ph: 0581-2582246, 2582249, 2592331, 32 Fax 0581-2582330, E-mail: [email protected] viii Journal of BIZCRAFT Faculty of Management Science Sep. 2014 - Feb. 2015 , Vol.8 , No. 2

Contents

SI. PARTICULARS Page No.

ORIGINAL RESEARCH ARTICLES 1. Assessment of E-banking in Selected Banks in India: A Customer-centric Approach Dr. Shalini Talwar & Dr. Satish Kulhari 6-21

2. Rural Housing Finance: Scope for Indian Commercial Banks Dr. Padmanava Mohapatra & Ms. Khirabdhi Tanaya Mohapatra 22-32

3. Performance Appraisal Practices in India: An Assessment of Techniques adopted by Public Sector Banks Dr. Pallavee Shrivastava, Priyanka Srivastava & Usha Kiran Rai 33-40

4. Micro Insurance - A means for Protection & Enrichment of Rural India Mr. Ankit Goel & Mrs. Parul Garg 41-48

5. A Scale Development Approach to the influence of country of origin in car purchase T. Frank Sunil Justus & T. Sunitha 49-57

6. Level of Occupational Stress among Female Teachers Shivani Dhodi & Dr. Indu Bansal 58-64

7. Prospects of Tourism in Jharkhand and its Economic Contribution Pranjal Kumar & Dr. Ashutosh Mishra 65-96

ix

Research article Assessment of E-banking in Selected Banks in India: A Customer-centric Approach Approach

Dr. Shalini Talwar Abstract Associate Professor-Finance The adoption of e-banking in India has produced many advantages to both the banks and K J Somaiya Institute of Management the ultimate customers. The use of information technology has not only reduce the costs of Studies and Research, operation but also made banking operations more effective, easy to maintain, speedier and highly competitive. The banks cannot remain standoffish from the concept of e-Banking and they should bring requisite changes in their systems to meet the necessities and Dr. Satish Kulhari challenges of e-banking. The main objective of this study is to measure and assess banking Director customers’ perception with regard to e-banking in selected banks in India. To achieve the HRCT Group of Institutions, objective of the current study, a close-ended questionnaire incorporating multiple-choice Morta, Ghaziabad options was used. A total of 350 customers from the selected banks were surveyed. Key words: Banking system, e-banking Indian banks, information technology, traditional banking.

INTRODUCTION Banking and they should bring requisite changes in their The economy of a country can function smoothly only if its systems to meet the necessities and challenges of e- banking system is flexible and capable of meeting the new Banking. The challenges posed by e-Banking are mostly of challenges posed by the technology and other exogenous procedural nature, which can be easily counterbalanced by and endogenous factors. The importance and role of adopting suitable technological and security measures. The information technology in ensuring smooth functioning of domestic standards of banking have to be in conformity with banks cannot be over-emphasised. There is an immediate the international standards making international dealings need for not only technology upgradation but also its from India safe and fast, which are presently not liberal integration with the functioning of banks to give them an enough. No system or institution can hope to benchmark edge in respect of services provided to the customers, better itself against international standards without making housekeeping, optimising the use of funds and building up optimal use of technology. There is no doubt about the of management information system for decision making. enormous potential and emancipated opportunities offered The technology has the potential to change methods of by advances in technology. However, there are pre- marketing, advertising, designing, pricing and distributing requisites and preparations, which have to be made before financial products and services, and cost savings in the form the full benefits of the technology can be harvested. of an electronic, self-service product-delivery channel. The The face of banking has been altered irreversibly by technology holds the key to the future success of Indian increased competition, technological advancement and Banks. E-banking is the need of the hour, which cannot be lifestyle changes. Nowadays, alternative modes and lost sight of except at the cost of elimination from the channels are being researched and used by banks to deliver competition. The use of e-Banking also becomes inevitable services in a bid to differentiate themselves against their due to the standards required to be matched at the competitors from both, the banking and non-banking sector. international level. Thus, the domestic as well as the The profile of customers, both corporate and retail, has international standards mandates the adoption of e-Banking changed drastically. The new age customers expect basic at the earliest possible moment and at all levels. services of banks with no time-lag. They want their The adoption of E-Banking in India has produced many financial transactions to be completed as and when they advantages to both the banks and the ultimate customers. want. They are not ready to wait in queues for the basic The use of information technology has not only reduce the services. These expectations of the customers can now be costs of operation but also made banking operations more effective, easy to maintain, speedier and highly competitive. fulfilled by banks due to rapid expansion in the number of The banks cannot remain standoff from the concept of e- computer systems. The electronic mode of banking services

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 1 and completion of transactions is fast becoming the best and customers feels the e-banking is advantageous as compared the most effective way for banks to meet their clients’ to traditional banking. Through the input questionnaire the expectations. researchers also attempted to find out from the respondent The current paper analyses e-banking in India from the point whether e-banking contributes to success of a bank, and of view of the end-users i.e. the customers of the bank. The what is the significance of behavior of people (employees) paper is organized in following sections: In section 2, when a customer is using tele-banking services provided by objectives of the study are presented along with a their respective banks. Further, the respondents were asked description of the research methodology. Data analysis is whether the future of banking is e-banking. presented in section 3 followed by conclusion in section 4. The scope of present study necessitates the use of tools of RESEARCH METHODOLOGY AND OBJECTIVES OF statistical analysis. A matrix of size 350x19 was formulated THE STUDY and data entry was incorporated by providing the choices selected by the respondents. The questions were formulated The main objective of this study is to measure and assess in ascending order of inclination. The minimum inclination banking customers’ perception with regard to e-banking in was awarded zero value whereas five was awarded as the selected banks in India. To achieve the objective of the highest inclination. Value four was omitted in inclination current study, a close-ended questionnaire incorporating allotment. The Pearson co-relation coefficient was multiple-choice options was used. A total of 350 customers determined through statistical techniques for finding out the from the selected banks were surveyed. A continuous correlation between various questions and has been profile of education (from illiterate to highly qualified) was described in the data analysis. The Pearson co-relation achieved in the data collection. coefficients achieved have been highly realistic. The banks selected for the study have been chosen on The objectives of the research are: mainly to ensure diversity with at least one bank being selected from the each category: nationalized banks, • To help the banks both the private as well as public regional private banks, new private banks and foreign sector banks identify the benefits and the utilities banks. Following is list of banks selected for the purpose of which customers are seeking and hence design the the study: offer. Nationalized Bank SBBJ • To examine the role of intermediaries in e-banking Regional Private Bank Bank of Rajasthan • To assess alternative channels of distribution for various banking products Private Bank of National Level ICICI Bank • To study the promotional mix being used in promoting Foreign Bank Citibank various banking products While formulating the questionnaire, preliminary research • To compare e-banking services of new private banks was undertaken by the researchers to find reasons, usage vs. nationalized bank from banking customers’ and success of e-banking from the customers’ perspective. perspective. The questionnaire incorporated various factors in the form of questions related to services offered by the banks whether ANALYSIS AND INTERPRETATION OF THE the bank offers e-banking facilities or not. It also SURVEY RESPONSE DATA incorporated whether the customers are aware of e-banking Presented below is a tabulation and analysis of the response facilities offered by various banks and which is the most received through the survey of 350 respondents who were frequently used e-banking facility by the customers, in customers of the banks selected for the study. general out of the various e-banking services offered by the 3.1 Frequency distribution, analysis and interpretation of banks. The input questionnaire also attempted to compare the questions asked through the questionnaire: traditional banking vis-à-vis e-banking in terms of cost 3.1.1 Duration of association with a particular bank: saving, efficiency, time saving, secrecy along with quality of services and complaint resolution. The respondents were Source: Based on authors’ calculation also asked to rate banks in terms of e-banking facilities The majority of respondents who have been selected for this offered by respective banks. study have been banking with their respective bank for The banking customers were also prompted to recall to as to duration of 3 years or more. As is evident from the responses what is most significant contribution of e-banking, whether 246 respondents out of 350 are banking with their respective customers are informed by their respective banks about e- banks for 3 years or more than 3 years. The researchers feel banking facilities offered by them and whether that that with such high percentage (more than 70%) of

2 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) Table 1: Q2. For how long you are banking with this bank? Valid Frequency Percent Valid Percent Cumulative Percent One Year 7 2.0 2.0 2.0 Two Years 81 23.1 23.1 25.1 Three Years 180 51.4 51.4 76.6 Five Years 66 18.9 18.9 95.4 More than five years 16 4.6 4.6 100.0 Total 350 100.0 100.0 100.0 respondents banking with one bank for more than 3 years, 3.1.3 Consumer rating of services offered by the bank? the responses so collected can be assumed to be relevant and Source: Based on authors’ calculation valid responses. Thus, it is presumed that the input The input data against question number 4 gave the above questionnaire and responses to the questions by the frequency of distribution for 350 respondents. A high respondent can be taken as valid primary input data. percentage (46.3%) quoted their bank services to be very 3.1.2 Reasons for changing the banks: good, whereas 39.1% quoted their bank services to be Source: Based on authors’ calculation excellent. This outcome corresponds with the earlier input The input data against question number 3 gave the above wherein respondents quoted inconvenience as the reason for frequency of distribution form 350 respondents. A very high changing the bank. This proves that if the e-banking is percentage (66.9%) cited inconvenience as reason for offered by the respective bank, it adds to consumer changing the bank. Another 33 respondents cited privacy as perception of excellent to very good services by the bank. a reason for changing the bank, whereas 63 respondents cited poor facilities as reason for changing the bank. 3.1.4 Whether e-banking is offered by the bank? As we see e-banking offers convenience of operation and As is evident from table 4, the majority (67.7%) of Table 2: Q3. If you have changed your bank in the past, it was due to…. Valid Frequency Percent Valid Percent Cumulative Percent Poor quality 9 2.6 2.6 2.6 Bad behavior 11 3.1 3.1 5.7 Poor facilities 63 18.0 18.0 23.7 Inconvenience 234 66.9 66.9 90.6 Privacy reasons 33 9.4 9.4 100.0 Total 350 100.0 100.0 100.0

Table 3:Q4. How do you find the services offered by your bank in modern times? Valid Frequency Percent Valid Percent Cumulative Percent Poor 0 0.0 0.0 0.0 Fair 3 0.9 0.9 0.9 Good 48 13.7 13.7 14.6 Very good 162 46.3 46.3 60.9 Excellent 137 39.1 39.1 100.0 Total 350 100.0 100.0 100.0 maintains privacy of operations in banking industry, it is respondents who have been selected for this study, indicated likely to keep the respondents glued to their respective bank. that their bank offered e-banking facility regularly. 317 We can conclude that consumers want convenience and respondents out of 350, which is greater than 90% of the privacy in their banking operations, hence prefer bank population, informed the e-banking services to be branches with e-banking faculties. sometimes or regularly. The researchers feel that with such

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 3 high percentage of respondents utilizing e-banking quite 3.1.6 Most frequently used service of e-banking? regularly, it can be presumed that the input questionnaire Source: Based on authors’ calculation and responses to the questions by the respondent can be The input data, when subjected to statistical analysis,

Table 4:Q5. Does your bank offer e-banking facilities?Source: Based on authors’ calculation

Valid Frequency Percent Valid Percent Cumulative Percent Don’t know 16 4.6 4.6 4.6 Never 2 0.6 0.6 5.1 Rarely 15 4.3 4.3 9.4 Sometimes 80 22.9 22.9 32.3 Regularly 237 67.7 67.7 100.0 Total 350 100.0 100.0 100.0 taken as valid primary input data. showed a highly skewed (94.9%) utilization of ATM, which 3.1.5 Frequency of using E-Banking Facilities? is nothing but a digitized traditional banking service. The utility of e-banking services has been negligible (single Source: Based on authors’ calculation digit respondents) which shows that only the simplest of the Table 5 makes it clear that the input data against question e-banking services has been utilized by the respondents. number 6 gave the above frequency of distribution from 350 The research also indicates that the majority of the services respondents. A very high percentage (61.4%) cited regular used by the customers are withdrawal/deposit of cash which use of e-banking facilities offered by their bank. Another 34 can be considered as the primary function of a bank.

Table 5: Q6. How often you use various e-banking facilities offered by your bank?

Valid Frequency Percent Valid Percent Cumulative Percent Don’t know 34 9.7 9.7 9.7 Never 3 0.9 0.9 10.6 Rarely 14 4.0 4.0 14.6 Sometimes 84 24.0 24.0 38.6 Regularly 215 61.4 61.4 100.0 Total 350 100.0 100.0 100.0 respondents have shown ignorance about the e-banking 3.1.7 Comparison with traditional banking from cost whereas 84 respondents used the services sometimes. As we saving : see, e-banking services are more frequently used by the Source: Based on authors’ calculation Table 6: Q7. Which is the most frequently used e-banking facility by you?

Valid Frequency Percent Valid Percent Cumulative Percent ATM 332 94.9 94.9 94.9 PC Banking 1 0.3 0.3 95.1 Electronic Funds Transfer 6 1.7 1.7 96.9 Direct deposit 5 1.4 1.4 98.3 RTGS 6 1.7 1.7 100.0 Total 350 100.0 100.0 100.0 customers rather than the traditional banking services and it is likely that more and more customers will demand e- The frequency of distribution, as arrived at in table 7, shows banking products.

4 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) a highly skewed (99%) categorization of good or superior while dealing with the e-banking. The research also grade to good or above towards cost saving when e-banking indicates that the majority of the customers feel that the is compared with traditional banking. Only a few efficiency achieved by the respondents with the use of e- respondents have awarded fair or poor category to e- banking has been near perfect. banking. The research also indicates that the majority of the 3.1.9 Comparison with traditional banking from time services used by the customers are withdrawal/deposit of saving: cash, which can be considered as the primary function of a Source: Based on authors’ calculation bank. 3.1.8 Comparison with traditional banking from efficiency: Table 9 makes it clear that all 100% of the respondents i.e. the entire population used good or superior category in time- Source: Based on authors’ calculation saving while comparing traditional banking with that of e- Table 7: Q8. How do you compare e-banking with traditional banking in terms of cost saving?

Valid Frequency Percent Valid Percent Cumulative Percent Poor 1 0.3 0.3 0.3 Fair 3 0.9 0.9 1.1 Good 53 15.1 15.1 16.3 Very good 239 68.3 68.3 84.6 Excellent 54 15.4 15.4 100.0 Total 350 100.0 100.0 100.0

Table 8: Q9. How do you compare e-banking with traditional banking in terms of efficiency?

Valid Frequency Percent Valid Percent Cumulative Percent Poor 0 0.0 0.0 0.0 Fair 3 0.9 0.9 0.9 Good 38 10.9 10.9 11.7 Very good 169 48.3 48.3 60.0 Excellent 140 40.0 40.0 100.0 Total 350 100.0 100.0 100.0

banking. This is important as the customer need not spend As is evident from the table 8, more than 99% of the time in traveling to the mortar branch when he is using e- respondents (which can statistically be considered as the banking facility. The time spend in the process is also very entire population) graded good or superior efficiency while low since no manual work is involved in the automated e- comparing traditional banking with e-banking. This is banking facilities. The research also indicates that the nearer to the reality since no personal involvement exists majority of the customers feel that the time saving achieved by the respondents with the use of e-banking has been very Table 9: Q10. How do you compare e-banking with traditional banking in terms of time saving?

Valid Frequency Percent Valid Percent Cumulative Percent Poor 0 0.0 0.0 0.0 Fair 0 0.0 0.0 0.0 Good 23 6.6 6.6 6.6 Very good 135 38.6 38.6 45.1 Excellent 192 54.9 54.9 100.0 Total 350 100.0 100.0 100.0

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 5 Table 10: Q11 How do you compare e-banking with traditional banking in terms of secrecy?

Valid Frequency Percent Valid Percent Cumulative Percent Poor 0 0.0 0.0 0.0 Fair 0 0.0 0.0 0.0 Good 26 7.4 7.4 7.4 Very good 192 54.9 54.9 62.3 Excellent 132 37.7 37.7 100.0 Total 350 100.0 100.0 100.0 high. The frequency of distribution as arrived at in table 11 3.1.10 Comparison with traditional banking from secrecy against question number 12 gave the pattern from 350 view point: respondents. A very high percentage (99.4%) cited good or superior quality of services rendered by banks providing e- Source: Based on authors’ calculation banking facilities as against the traditional mortar banking services. Less than one percent of the respondents indicated The input data, when subjected to statistical analysis, shows fair or inferior services. As we can see, e-banking services that all 100% of the respondents i.e. the entire population render superior quality service to the today’s quality used good or superior category from secrecy view point oriented customers and it is likely that more and more

Table 11: Q12. How do you compare e-banking with traditional banking in terms of quality of services?

Valid Frequency Percent Valid Percent Cumulative Percent Poor 0 0.0 0.0 0.0 Fair 2 0.6 0.6 0.6 Good 34 9.7 9.7 10.3 Very good 188 53.7 53.7 64.0 Excellent 126 36.0 36.0 100.0 Total 350 100.0 100.0 100.0 while comparing traditional banking with that of e-banking. customers will opt for e-banking services. Considering the wide use of communications technology 3.1.12 Comparison with traditional banking from the world is narrowing down, secrecy becomes an important complaint resolution: consideration. Source: Based on authors’ calculation

3.1.11 Comparison with traditional banking from quality of As is evident from table 12, the frequency distribution of services: 350 respondents, shows a highly skewed (98.0%) Source: Based on authors’ calculation Table 12: Q13. How do you compare e-banking with traditional banking in terms of complaint resolution?

Valid Frequency Percent Valid Percent Cumulative Percent Poor 0 0.0 0.0 0.0 Fair 7 2.0 2.0 2.0 Good 50 14.3 14.3 16.3 Very good 187 53.4 53.4 69.7 Excellent 106 30.3 30.3 100.0 Total 350 100.0 100.0 100.0

6 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) Table 13:Q14. How do you rate your bank based on e-banking facilities? Valid Frequency Percent Valid Percent Cumulative Percent Traditional 0 0.0 0.0 0.0 Modern 4 1.1 1.1 1.1 Progressive 58 16.6 16.6 17.7 Dynamic 215 61.4 61.4 79.1 Up to date 73 20.9 20.9 100.0 Total 350 100.0 100.0 100.0 satisfaction level of complaint resolution with the grading of the respondents felt their banks to be dynamic. 16.6% of of good and superior by the respondents. Since the time and the respondents gave the rating to be progressive. The time value of money are important to the customers, research indicates that the majority of the banks providing complaints, if any, are expected to be resolved at the earliest the e-banking facilities are trying hard to keep the pace with possible time by the banks. In this regard, the decisions are the technology. taken by the electronic mail and the counter entries are 3.1.14 Significant contribution of the e-banking: incorporated keeping the customers informed. The Source: Based on authors’ calculation information to the customer about his complaint resolution elevates him psychologically.

Table 14:Q15. What is the most significant contribution of e-banking?

Valid Frequency Percent Valid Percent Cumulative Percent Time saving 1 0.3 0.3 0.3 Efficiency 2 0.6 0.6 0.9 Convenience 285 81.4 81.4 82.3 Reliability 30 8.6 8.6 90.9 Secrecy 32 9.1 9.1 100.0 Total 350 100.0 100.0 100.0

3.1.13 Rating of the Banks based on e-banking facilities: The frequency of distribution, as arrived at in table 14, Source: Based on authors’ calculation shows more than 80% of the respondents feel that the most significant contribution of e-banking is convenience to them. The customers rate the reliability and secrecy as equal The input data, when subjected to statistical analysis, shows contributing factors. Less than 1% of the population selects that since the pace of technological change is faster than its the time saving and efficiency as their contributing factor. incorporation in the financial sector, it is almost impossible The researchers feel that the convenience is the most to keep updated as far as the technology up gradation is important factor for a customer to check, before entering concerned. However, 20.9% of the respondents felt and into the banking deals. The customers are not much observed their banks to be up-to-date. The majority (61.4%)

Table 15: Q16. Are you informed about all the e-banking facilities offered by your bank?

Valid Frequency Percent Valid Percen Cumulative Percent Don’t know 25 7.1 7.1 7.1 Never 15 4.3 4.3 11.4 Rarely 33 9.4 9.4 20.9 Sometimes 189 54.0 54.0 74.9 Regularly 88 25.1 25.1 100.0 Total 350 100.0 100.0 100.0

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 7 Table 16: Q17. Do you feel e-banking is advantageous compared to traditional banking? Valid Frequency Percent Valid Percent Cumulative Percent Don’t know 23 6.6 6.6 6.6 Never 0 0.0 0.0 6.6 Rarely 23 6.6 6.6 13.1 Sometimes 126 36.0 36.0 49.1 Regularly 178 50.9 50.9 100.0 Total 350 100.0 100.0 100.0 interested in time-saving when compared with their print media. It can be easily concluded that majority of the convenience. customers keep themselves ignorant of the banking 3.1.15 Intimation e-banking facilities offered: developments due to time constraints or poor knowledge. Source: Based on authors’ calculation 3.1.16 Comparative advantage of e-banking: Source: Based on authors’ calculation As is evident from table15, the customers are not informed about all the e-banking facilities offered by their respective Table 16 exhibits the response to question number 17. It banks regularly. Only one-fourth of the banks inform their shows that 93.4% of the respondents felt the e-banking to be

Table 17: Q18. Do you feel for a bank to be successful, it needs to offer e-banking facilities to the customers? Valid Frequency Percent Valid Percent Cumulative Percent Don’t know 16 4.6 4.6 4.6 Strongly disagree 1 0.3 0.3 4.9 Disagree20 5.7 5.7 10.6 Agree 184 52.6 52.6 63.1 Strongly agree 129 36.9 36.9 100.0 Total 350 100.0 100.0 100.0 clients about new facilities. Nearly half of the respondents sometimes or regularly advantageous when compared with were informed sometimes whereas the remaining one- the traditional mortar banking and other 6.6% were fourth of the respondents were rarely or never informed. ignorant. The researchers feel that the banks have to take a The researchers feel quite surprised to know that the giant leap in educating the customers about both the services customers are not informed about all the e-banking facilities and advantages of the e-banking. It is quite surprising to see offered by their respective banks regularly. However, it may that 23 out of 350 respondents were not aware of the be possible that the information regarding latest advantages of e-banking. development and facilities offered/ introduced by the bank 3.1.17 Opinion of customers about success of banks due to is intimated to the customers through correspondence or e-banking:

Table 18: Q19. How is the behavior of employees, when you are banking using tele-banking with your bank? Valid Frequency Percent Valid Percent Cumulative Percent Poor 0 0.0 0.0 0.0 Fair 1 0.3 0.3 0.3 Good 57 16.3 16.3 16.6 Very good 175 50.0 50.0 66.6 Excellent 117 33.4 33.4 100.0 Total 350 100.0 100.0 100.0

8 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) Table 19: Q20. Do you feel that the future of banking is e-banking? Valid Frequency Percent Valid Percent Cumulative Percent Don’t know 0 0.0 0.0 0.0 Strongly disagree 0 0.0 0.0 0.0 Disagree5 1.4 1.4 1.4 Agree 137 39.1 39.1 40.6 Strongly agree 208 59.4 59.4 100.0 Total 350 100.0 100.0 100.0

Source: Based on authors’ calculation practice. The Pearson coefficient of correlation is denoted by symbol r. It is used universally to describe the degree of The input data, when subjected to statistical analysis, shows correlation between two series. The value of coefficient of that about 90% of the respondents agreed or strongly agreed correlation always lies between ± 1. When r = + 1, it means to the fact that for a bank to be successful, e-banking is a there is perfect positive correlation between the two must. Only about 5% of the population disagreed with the variables. When r = – 1, it means there is perfect negative fact whereas the remaining 5% were not clear about the correlation between the variables. When r = 0, it means there question and preferred to reserve their comments. The is no relationship between the two variables. However in research indicates that the majority of the customers feel practice, we generally get values that lie between + 1 and – 1 that the developments in the technology have to be such as + 0.8, – 0.26. Thus, +0.8 would mean the correlation incorporated in the banks to be successful. is positive because the sign of r is + and the magnitude of correlation is 0.8. Similarly 0.26 means low degree of 3.1.18 Behavior of the employees at tele-banking: negative correlation. While analyzing the data in the present Source: Based on authors’ calculation study, SPSS software was employed to arrive at coefficient The frequency of distribution as arrived at in table 18, shows of correlation between various variables to establish the that almost 99.7% of the respondents i.e. the entire degree of association. population used good or superior category from behavior 3.2.1 Pearson Correlation – Duration of banking with a view point of the tele-operators. Only one respondent particular bank and reasons for change categorized the behavior of the tele-operators as fair while none awarded poor behavior. Since the attitude and Q2 Q3 behavior of the employees has been good or very good, Q2 1.000 0.191 more and more customers are likely to get attracted to e- Q3 0.191 1.000 banking. 3.1.19 Comparative advantage of e-banking: Source: Based on authors’ calculation Source: Based on authors’ calculation When the weighted values of responses to question number 2 and question number 3 are correlated, the value of r comes out to be 0.191 i.e. positive correlation which is low, As is evident from table 19, almost all 98.6% of the indicating insignificant correlation. We can conclude that respondents agreed or strongly agreed to the fact that the the reasons for changing the bank may be positively future of the banking is e-banking. Only 5 respondents out correlated to various variables enumerated in the input of 350 interviewed, disagreed. Nearly 60% of the customers questionnaire like poor quality, bad behavior, poor strongly agreed and believed that in future, all banks will use facilities, inconvenience and privacy. However, generally e-banking operations. customers will not change the bank on account of these factors. This outcome may be assigned to individual identity 3.2 KARL PEARSON’S COEFFICIENT OF and personalized treatment a customer expects in the CORRELATION banking industry. Among several mathematical methods of measuring correlation, Karl Pearson’s method, popularly known as 3.2.2 Pearson Correlation – Evaluation of services, Pearson’s coefficient of correlation is most widely used in

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 9 provision of e-banking services and frequency of usage of e- towards preference of e-banking facilities. banking services Source: Based on authors’ calculation

Q4 Q5 Q6 When the weighted values of responses to question number Q4 1.000 0.141 0.200 7 and question number 8 are correlated, the value of r = Q5 0.141 1.000 0.252 0.059 i.e. positive but very weak correlation. While the e- Q6 0.200 0.252 1.000 banking facility commonly used by most respondents is ATM facility, it does not significantly influence consumer perception of e-banking. Source: Based on authors' calculation When the weighted values of responses to question number 7 and responses to question number 9 are correlated, the When the weighted values of responses to question number value of r = -0.010, a negative correlation that conclusively 4 and question number 5 are correlated, the value of r comes proves that usage of e-banking facility does not, in any way, out to be 0.141 i.e. positive correlation which is low, influence consumer perception of efficiency in the banking indicating insignificant correlation. We can conclude that industry, if e-banking facilities are offered by the concerned the evaluation of banking services with the provision of e- bank. banking facilities are not strongly correlated. This weak When the weighted values of question number 7 and correlation significantly proves that the consumers’ question number 10 are correlated, the value of r = 0.108, a perception of quality of services is not influenced by positive but very weak correlation which implies that e- provision of e-banking facilities offered by the bank. banking does not influence consumer perception in terms of When we take the weighted value of responses to question time saving with most of the respondents. number 4 and question 6, the value of r = 0.200. Again, When the weighted values of responses to question number positive but not very significant correlation which proves 7 are correlated with the weighted values of responses to that the quality of services are not correlated strongly to question number 11, the value of r = 0.026, a positive but usage of e-banking facilities by the customers. weak correlation. This again means that e-banking usage A significant finding here is that when the weighted values does not influence consumer perception of privacy in are correlated between responses question no.5 and banking in general. responses to question no.6, the value of r = 0.252. This When the weighted values of responses to question number comparatively high value of Pearson coefficient explains 7 are correlated to responses to question number 12, the that if a bank offers e-banking facilities, more and more value of r = -0.012, a negative correlation between these two customers are willing to use it. This reflects a positive trend variables proves that consumers do not significantly perceive e-banking as adding to the quality of banking

3.2.3 Pearson Correlation – Evaluation of specific e-banking, comparison of e-banking with traditional banking in terms of cost saving, efficiency, time-saving, secrecy, quality of services, complaint resolution and perception of the bank based on e-banking facilities it offers

Q7 Q8 Q9 Q10 Q11 Q12 Q13 Q14 Q7 1.000 0.059 -0.010 0.108 0.026 -0.012 -0.015 0.177 Q8 0.059 1.000 0.249 0.222 0.098 0.163 0.075 0.116 Q9 -0.010 0.249 1.000 0.206 0.177 0.207 0.070 -0.083 Q10 0.108 0.222 0.206 1.000 0.233 0.169 0.255 0.080 Q11 0.026 0.098 0.177 0.233 1.000 0.019 0.076 0.077 Q12 -0.012 0.163 0.207 0.169 0.019 1.000 0.135 0.084 Q13 -0.015 0.075 0.070 0.255 0.076 0.135 1.000 0.136 Q14 0.177 0.116 -0.083 0.080 0.077 0.084 0.136 1.000

10 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) services in the banking industry. Source: Based on authors’ calculation Similarly, when the weighted values of responses to question number 7 are correlated with responses to question Q18 Q19 Q20 number 13, the value of r = -0.015, a negative value Q18 1.000 -0.016 0.166 signifying that consumers do not perceive that e-banking in Q19 -0.016 1.000 0.300 any way is contributing to complaint resolution in banking Q20 0.166 0.300 1.000 industry.

Further, when the weighted values of responses to question number 7 are correlated with the responses to question When the weighted values of responses to question nos. 18 number 14, the value of r = 0.177, a positive but weak are correlated to responses to question number no. 19, the correlation signifying that consumers do not rate their bank value of r = -0.016, a negligible and negative correlation very high based on provision of e-banking facilities by the indicating that the consumers do not significantly perceive bank. the need of e-banking facilities and the behavior of bank employees during tele-banking interaction with the Q15 Q16 Q17 consumers. Q15 1.000 -0.202 -0.186 Similarly when the weighted values of responses to Q16 -0.202 1.000 -0.069 question nos. 18 are correlated with responses to question Q17 -0.186 -0.069 1.000 number no. 20, the value of r = 0.166, a positive correlation showing that consumers perceive that e-banking facilities are the future of banking industry. 3.2.4 Pearson Correlation – the most significant Further, when the weighted values of responses to question contribution of e-banking, information about the e- nos. 19 are correlated with responses to question number no. banking facilities offered by the bank and feeling of 20, the value of r = 0.300, a positive and reasonably large respondents that e-banking is advantageous compared correlation indicating the perception of consumers that to traditional banking good behaviour of bank employees during tele-banking Source: Based on authors’ calculation leads to the future of the banks using e-banking facilities. When the weighted values of responses to question nos. 15 are correlated to responses to question number No.16, the 4. CONCLUSION value of r = -0.202 a negative correlation which proves that Through the input questionnaire, the researchers collected the consumers do not attach much significance to the primary data, which was statistically analyzed using contribution of e-banking and intimation of e-banking frequency distribution of various responses and Pearson facilities offered by the bank. correlation coefficient to compute the correlation between Similarly when the weighted values of responses to various factors that contributed to the increased usage and question nos. 15 are correlated with responses to question success of e-banking. number no. 17, the value of r = -0.186, a negative correlation The banks feel e-banking is advantageous compared to showing that consumers do not perceive the contribution of mortar banking in two fold manner. One, the use of e-banking to be a significant advantage over traditional information technology for delivery of banking services, banking. which has not only impacted the banking products but also Further when the weighted values of responses to question facilitated new outlets, for example, ATMs, internet, etc. nos. 16 are correlated with responses to question number no. Two, it has renewed focus on the high net worth customers, 17, the value of r = -0.069, a very small and negative which has created a different type of private banking in the correlation showing that consumers do not feel that Indian banks. The banks are now not only conscious of the information about e-banking is linked to the advantage of e- customer needs but are focused on customer relationship banking over traditional banking. management as well. 3.2.5 Pearson Correlation – the need of e-banking facilities, the behaviour of tele-banking employees and the future of banking is e-banking

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 11 5. REFERENCES

1 Agarwal, RK Analysis of Financial Statements, Jaipur: Printwell Publishers. 1998

2 Avadhani, VA Marketing of Financial Services, Mumbai: Himalaya Publishing House. 1999

3 Basu, AK Fundamentals of Banking Theory and Practice, New Delhi : S. Chand & Sons. 1999

4 Chandra, P Financial Management Theory & Practice, New Delhi : Tata McGraw-Hill Publishing Company Limited. 1999

5 Foster, G Financial Statement Analysis, New York : Prentice Hall. 1986

6 Kothari, CR Research Methodology : Methods & Techniques, New Delhi : Vishwa Prakashan. 1999

7 Kotler, Philip Marketing Management, New Delhi: Pearson Education Asia. 2003

8 Lovelock, C Services Marketing, New Delhi : Pearson Education Asia. 2002

9 Mathur, BL Banking Management, Jaipur: Arihant Publishing House. 1994

10 Rangarajan, C Innovations in Banking: The Indian Experience, New Delhi. 1973

11 Shah, Manubhai New Role of Reserve Bank in India’s Development, Mumbai : Vora & Co. 1972

12 Varshney, PN Indian Financial System & Commercial Banking, New Delhi : Sultan Chand & Sons. 2001

12 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) Research article Rural Housing Finance: Scope for Indian Commercial Banks

Abstract Dr. Padmanava Mohapatra Every human being aspires to have his/her own house to live in. After food and clothing, Assistant Professor, housing is the third most important human requirement. Housing, however, is a major Asian School of Business expenditure and cannot be funded out of a family’s normal monthly income or savings. Management, Loan is offered to purchase/build a new house on the basis of his/her eligibility and the Bhubaneswar, Odisha bank’s lending rules. Commercial banks play a dynamic role in providing housing finance by it’s widely spread branches all over India. Unfortunately, the contribution of rural Ms. Khirabdhi Tanaya housing finance is negligible. This paper exclusively studies the rural housing finance with Mohapatra the objectives like- scope for commercial banks in rural, satisfaction level on rural housing Faculty, Centre for Management finance services and future course of action. The paper in order to study the objectives took Studies, a sample of 794 family heads from costal districts in the state of Odisha as respondent and Odisha Engineering College, analysed their opinions. It is found that a large group of intended rural people are untapped Bhubaneswar by the banks under the housing finance. Thus, the commercial banks have huge scope for this product and to work for future in costal Odisha. Keywords: Rural housing finance, Commercial banks, Satisfaction level

INTRODUCTION unauthorized settlements, unhygienic dwelling and poor quality of services. In rural areas the situation is even more alarming. People don’t have a comfort living due to After food and clothing, housing is the third most important deplorable and unhygienic dwelling house. Majority of human requirement. On an average a person spends almost them are in need, desire also but don’t have because of two-thirds of his life in a house which is his sanctuary in his financial hindrances and ignorance of housing finance. old age. Every human being aspires to have his/her own house to live in. Housing, however, is a major expenditure LITERATURE REVIEW and cannot be funded out of a family’s normal monthly (Encyclopedia Britannica, 1943) says, the world housing income or savings. Loan is offered to purchase or build a has a general meaning covering conditions and statistics new house on the basis of their eligibility and the bank’s applying to all the dwellings of the community. It is used to lending rules. Government indirectly gives encouragement refer to the problem created by deficiency in number or for housing financers by offering number of tax concessions defects in conditions of the dwellings. (Ministry of to individuals. As a result tax payers are putting their interest Information and Broadcasting, 1988-89) suggested certain for housing finance. Thus, a number of players were entered minimum standard housing is essential for healthy and in housing finance. Today there are 350 housing finance civilized existence. Shelter is a basic human need and as an companies registered with the registrar of companies, of intrinsic part of human settlement, is closely linked with the these 29 have been approved by National Housing Bank for process of overall socio-economic development financial assistance. (Krishnamachar, 1980).

The housing loan market in India has grown at a rapid and In the opinion of (Paul, 1983) the financial burden of alarming rate of over 40% over the period of the last four investment in housing is generally very heavy, when the years, i.e. from 2013 and back. It was found that commercial owner does not have sufficient funds available to pay for the banks are very popular among the customers these days. site and the entire cost of construction, one must make The trust level that the customers have with these banks is arrangements to obtain funds from some other sources. very high in comparison to others. Inadequate housing (Naik, 1981) is of the opinion that housing loans are usually facilities have led to the rapid growth of slums and advanced against, the security of mortgage of land and the

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 13 building to be constructed with the loan. Housing finance is Indian economy. The growing purchasing power of the therefore mortgage finance. (Kamraj & Somu, 2013) states lower-and middle-income population, changing that the scope for banking industry is very bright and the demographics and government and regulatory support, banks can succeed only if they perform well in this have all been driving the demand for housing finance competitive environment. The housing loan schemes (Sridharan, 2014). offered by banks in order to give a enhance to the housing scenario in India and to narrow down the margin between (Tiwari, 2007) says in the whole discussion about the housing demand and the availability of houses (Naik, devolution of power at local level, the core issue of funding 1981). (Chaudhary & Janjhua, 2011) suggested that higher is being marginalized. Whatever be the level of devolution satisfaction level among the respondents indicates that the of power, adequate funding is a prerequisite. Decades of bank is responsive to the needs and problems of the negligence of funding in the housing sector and low customers. The success of the housing companies in the incomes have all contributed to present problems with rural market rest on the availability of customized product and housing. Low-income households would require also the service quality offered to customers. The future investment in social housing to eliminate poor quality growth of the companies depends upon its qualitative kutcha housing. PRIs without adequate fiscal clout cannot service to the customers. At this juncture, the banks should be expected to sort out housing and other related problems. evaluate their services and identify their distinction from It is important to recognize that rural housing problem is a others. Changing customer needs and uncertain economic national problem and cannot be funded only at the local conditions in are exerting pressure on housing companies level. while testing their ability to survive. The only way to succeed in the market is the formulation of differentiated service to different customer segments (Nallusamy, 2012). About 25% of the world’s population does not have sufficient shelter and live in sub-human conditions. The shortage of housing in India persists since independence. Most of the housing finance companies in India have According to the planning commission the shortage of introduced several new home loan products in order to meet dwelling units are expected to reach 41 million. This the needs of a wide variety of customers. The various home resulted due to the growth of population shift in loan schemes have market. The customer can choose those demographic pattern and rising income of the middle class schemes which he feels is good for him and have the vis-à-vis the availability stock. In order to rectify this capacity to repay it on that specified time period was mismatch between demand and supply the government suggested by (Rajalakshmi, Pappeswari, & Venkatesh, encouraged the housing finance institution and banks 2013). (public and private) for bridging the resource gap (Mishra, 2011). (Munjee, Gupta, & Hutheesing, 1990) opines that credit flows into the housing sector originates either from formal (Thingalaya, Shetty, & Moodithaya, 2010) narrates housing or informal sector. The formal sector includes budgetary for all should not remain a distant dream in India; it should allocations, of central and state governments, financial be made a reality without any further delay. In the Indian institutions like the LIC, Unit Trust of India, Commercial context, the demand for housing finance remains and Banks, Provident funds and Public Sector Institutions such continues to remain insatiable and it requires more need- as HUDCO. The home loan market in India has grown at a based schemes and not greed induced programs as happened rapid and alarming rate of over 40% over the period of the in subprime lending in the US. The percentage share of rural last four years. And it is evident that these are very little housing loans in total housing loans declined from 10 chance that these will be any significant decline in growth percent in 2001 to 8 percent in 2007. As against this, the rates in the future. The Indian housing finance sector is metropolitan centres have improved their share expected to grow significantly. The economic boost, significantly from 39 percent to 55 percent during this emerging global markets exposure, changing lifestyles and period. Surprisingly, there was a significant decline in the international cultural influx will continue defining the new- shares of semi-urban and urban areas. The share of semi- age Indian home loan customer and the industry at large. urban areas has declined from 22 percent to 12 percent, Housing market is one of the major contributors to the

14 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) whereas in the case of urban areas, the share in total housing (Tiwari, 2007). loans declined from 29 percent to 24 percent.

There is a requirement of the Banking sector including (Singh, 2013) says that in India, there is a big gap in the Cooperative Banks and Regional Rural Banks to step in housing finance market which is being addressed mainly by with appropriate instruments/programmes for lending to the Central government. In recent years, financing to the rural housing so as to overcome the barriers/constraints in housing sector has been liberalized by the government and rural housing finance which in turn can change the current RBI. There are a number of players in the housing market status of institutional financing for rural housing (National and each player has a unique niche. These are commercial Housing Bank, 2012) banks, housing finance companies, cooperative banks and Looking at the literatures above pertaining to the rural non-bank finance companies. In India, urbanization has housing finance the following three research lines are been progressing rapidly from around 11 per cent in 1901 to identified and this paper includes these as its main 31 per cent in 2011 and is expected to reach 41 per cent by objectives to explore. 2030 or a little more than 600 million persons in 2030 from about 360 million persons in 2011. OBJECTIVES 1 To discover the scope of commercial banks as (Sridharan, 2014) with the housing gap expected to regards to the rural housing finance considerably further increase by 2030, the Indian housing finance sector is expected to grow significantly. The 2 To study the satisfaction level of respondents on economic boost, emerging global markets exposure, banking services as regards to the rural housing finance. changing lifestyles and international cultural influx will 3 To study the level of association and involvement continue defining the new-age Indian home loan customer of the commercial banks in sharing knowledge of rural and the industry at large. housing finance among the rural people. Majority of the customers are not aware of the various other home loan products offered by HDFC, other than the RESEARCH METHODOLOGY product availed by them. Awareness can be created through This study has gathered information both from primary and display boards within the office and newspaper inserts secondary sources. The secondary sources of information (Vanaja & Sindhuja, 2013). are congregated from bank publications, research journals, review reports and others like, business magazines, leading “Housing for all” is an important national agenda of the business newspapers etc. The primary data have been Government of India. The Rural population account for gathered through a structured questionnaire by nearly 68.33 per cent of the country’s total population and administering to 794 rural family heads of different revenue are the backbone of the country’s economy. However, the villages in the costal districts of the state Odisha. Primarily quality of rural housing as also the volume of rural housing questionnaires were administered to 812 respondents but shortage in the country is emerging as a critical and unique responses from 18 were rejected due to abnormal and unreal challenge considering the varied dimensions of the rural answers. The literatures above find that the income and landscape and lifestyle (National Housing Bank, 2012). occupation profiles of people have momentous role in construction of residential houses and availing loans for the same. Thus, the demography of respondents is categorized Rural houses are financed by formal and informal sources of under income and occupation profile for the purpose of finance. At present, a house being a pre-ponderous asset of a study. household, people build their houses gradually as their savings and availability of funds from informal sources Research tools- The paper uses mostly the mean and permit them. The present outreach of formal housing percentage study for analysis and interpretation of the finance institutions in the rural areas is minimal. Initiatives primary data. were undertaken by the Ministry of Rural Development to enhance the role of formal housing finance institutions in RESULT AND FINDINGS rural areas through provision of equity capital to HUDCO

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 15 Demography- The population of the research is very high increased which is the result of their increase in annual and adoption of random sampling is seems to be difficult. income. Awareness among the rural people of this district Convenient sampling although not defined as a method of relating to savings has seen increasing with the advent of sampling still it has been adopted for this research looking at technology and education. Apart from rudimentary the reality and appropriateness to the Indian research expenditures like, fooding, clothing and other basics they environment. The demography of the respondents is could save, if not much, good amount either to build houses, categorized under income and occupation profile for the or to invest in their respective businesses, or for social purpose of study. occasions or for future exigencies. All have their respective

Table-1 (Income and Occupation profile of respondents) Occupation Govt. Sector Private Sector Self- Businessman Agricultural Others Total Income Employees Employees Employed Landlord Very Low - 18 4 16 30 22 90 Low 8 24 36 14 94 12 188 Middle 76 34 34 46 78 8 276 Upper Middle 68 26 20 22 40 - 176 High 22 10 8 12 12 - 64 Total 174 112 102 110 254 42 794

Source: Primary data. (Figures represent number of reasons to save. They (most of them) do not want to depend respondents) on banks for reasons like- fear if they are unable to repay loan bank will take over their mortgaged property, bank will prefer higher security or bank will out rightly say “NO” (for It is observed that the sample covers majority of agricultural whatever reasons). Hence, they are dependent on their landlords (land owners) followed by government sector savings. But, slowly the situation is changing. employees. Agricultural and daily wage labourers- Implementation of various government schemes under grouped under the head ‘Others’ are prone to the residential inclusive growth movements, made the people of rural belt houses available under various government schemes as per associated with the banking activities now a days. Found, criteria thus purposefully constitute negligible numbers in the rural people are taking loans and advances from banks the sample. In addition to these three groups other three for various commercial purposes. But, they are far to the occupation groups like, private sector employees, self reach of housing finance till date. Whether, they are having employed and businessmen are taken as demography. Income of the family plays a dynamic role in construction of residential houses in the rural areas. Therefore, the income profile of respondents has been grouped under five sub-heads as per their annual family income like, Very Low (below Rs.50,000), Low (Rs.51,000 - Rs.1,50,000), Middle (Rs.1,51,000 – Rs. Rs.3,00,000), Upper Middle (Rs.3,01,000 – Rs.5,00,000) and High Income (Above Rs.5,00,000).

B a n k i n g A s s o c i a t i o n a n d Source: Primary data. Numerical figures indicate the number of respondents Awareness- The annual savings of and their percentage. *Once in three months/more rural people has marginally

16 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) deposits in the banks or availing loans for some of the if they are unable to repay back, their property will be important points or depending upon the banks on certain overtaken by bank. A substantial part of the desiring group banking services they are visiting banks in time interval. has complained that they are told to keep margin way More is interval of visit more is the association. The level of beyond to their expectation. As a result it is seen that much association is gradually increasing. In order to know the of people do not desire to go for housing loans. They are also frequency of their visit to the banks, the respondents have having a question mark on the preparedness of the banks for been asked and the result is shown below through a pie it. In addition to these few other reasons like ignorance, chart. documentation complexities, middlemen’s play; etc hold Scope for Commercial Banks- As housing is one of the back the rural people from housing finance. important basic and fundamental needs for every person, Satisfaction on Banking Services- There are few studies so more and more people are turning up to avail housing far, measuring the issues related to the satisfaction levels of finance. Various types of governmental schemes are also rural housing finance. This research paper primarily aims at providing them a helping hand too. Still, a very big part is the study of respondents’ satisfaction level on banking

Table-2 (Status of Permanent Residential Building)

Source: Primary data. GT stands for Group Total untouched in rural India. services as regards to rural housing finance. Respondent’s At about 27% (see table- 2) of rural family are desirous to opinions in this regard have been studied through various avail housing loan. There is huge scope for the commercial parameters like- security norms, assistance given by bank, banks to hose finance in rural areas for housing. People want time consumption for sanction of loan, documentation to avail loan either for construction of their houses or process, installment norms, margin money, rate of interest, renovation or for extending a floor or two higher (refer flexibility in repayment period, transparency in processing, table-2). But, this is unfortunate neither the banks are any hidden charges like processing fees, administrative showing their promptness and interest nor the desiring charges. The satisfaction level on these factors has been people leading towards housing finance. The status of measured through a five point ratings ‘Likert Scale’, i.e. a residential house of rural people and their inner urge to avail grading scale of 5 for highly satisfactory, 4 for satisfactory, a bank loan for construction and renovation may be felt from 3 for neutral, 2 for dis-satisfactory and the least 1 for highly the following primary data gathered through the dissatisfactory. The satisfaction level of respondents as questionnaire. regards to their income and occupation profile has been tabled as under. Few people here have fear in taking a housing loan because

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 17 The very low income group of people is least concern to the As observed above, the agricultural and daily wage workers housing finance as they desire a residential house under who are classified under ‘Others’ are highly dissatisfied various government schemes. Low income group are quite with the services provided by bank. Found that they are least dissatisfied regarding the services provided by banks bothered to the housing finance and least associated to the relating to housing loan as compared to other groups of banks in the context too. Their need of residential house is income because of their little association with banks. being available under various government schemes. Self- However, the majority of rural people have not shown their employed respondents are also not satisfied and in second satisfaction as regards to the rural housing finance. The position of dissatisfaction. Government sector employees

Table-3 (Satisfaction on Banking Services as regards to the Income Profiles)

Source: Primary data

satisfaction level ranges between 2 – 3 (dis-satisfaction to seem to be neutral as they get an added advantage in getting neutrality). The major factors which irk people are- rates of housing finance. Commercial banks are very liberal in many interest, documentation process, margin of money they are points while providing housing finance to them. However, told by bank to keep, and time required for sanctioning loan. satisfaction level of rural people is not satisfactory on

Table-4 (Satisfaction on Banking Services as regards to Occupation Profiles)

Source: Primary data

18 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) banking services irrespective of their occupation profiles. In this regard respondents have been asked few questions Association and Involvement of the Commercial Banks- like, hoarding and board display in various village centers, The desirability of rural people to housing finance is high sponsoring cultural festivals/events, conduct of seminars but they are not grooming adequately. Bereft in and meetings, educating people through personal advertisement, canvassing and knowledge sharing perhaps canvassing, display of videos in rural areas and providing may be the reasons for the situation. For popularization and banking education to secondary school students. Their customization of this product the commercial banks should opinion levels on the parameters have been measured open up and think something out of box. They are to through

Table-5 (Association and Involvement of the Commercial Banks) Income Profiles Very Low Low Middle Upper High Parameters Middle Hoarding and board display in various 1.752 1.437 1.003 1.041 1.154 village centers Sponsoring cultural festivals/events 1.594 1.156 0.868 1.212 1.123 Conduct of seminars, meeting etc 1.594 1.288 1.051 1.031 1.169 Educating people through personal 1.875 1.488 1.234 1.052 1.154 canvassing Display of videos in rural areas 1.031 1.451 0.446 0.991 1.015 providing banking education to 0.594 1.207 0.496 0.773 0.954 secondary school students

Source: Primary data increase their association with the rural people. The study at five pointer scale, i.e. very high, high, average, low and very its last phase tries to discover level of association and low and figured with 5, 4, 3, 2 and 1 respectively. The results involvement of the commercial banks in sharing knowledge are tabled below in number 5 and 6. among the rural people.

Table-6 (Association and Involvement of the Commercial Banks)

Source: Primary data

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 19 The respondents of upper three income groups are the huge scope for this product. The study came to a conclusion present and prospective customers of rural housing loans. that the satisfaction level of existing and prospective Their opinions indicate that all the three groups are not at all customers on the services performed by the banks under happy with the activities of the commercial banks housing finance are unsatisfactory. Again, it discovered few pertaining to all selected parameters tabled above. The future educative activities of commercial banks to be

Table-7 (Importance of Parameters)

(Source: Primary data. Highly important=3, Important=2, Not important=1, No comments=0)

statistics indicate the level of association and involvement undertaken for popularization of rural housing finance. of the commercial banks with the rural people is low. The Those are like commercial banks are not at all sincere in developing relationship with the people for promoting their housing RECOMMENDATIONS products in rural areas. Few specific recommendations on the base of above study- All of them have felt the impotence at all parameters. It would definitely add substantial value if those will be i Education is always a weapon so providing of implemented adequately by the commercial banks. banking education to secondary school students is Financial and banking literacy in our country is poor and strongly recommended. very poor particularly in rural base. Thus, commercial banks ii Hoarding and board displays at prominent rural should be careful enough in this regard which will no doubt centers are essential to spread the banking as well enable them to tap the untapped. Their association with the as housing finance awareness. rural people would no doubt propagate these products. They iii Monetary sponsorship from banks for rural have not proved their existence till now. festivals, tournaments and other social events. iv Organisation of meetings, video shows relating to CONCLUSION prevailing banking services Government gives encouragement for house finance v Introduction of orientation courses for bank subsidiaries. As a result a number of players entered into employees to deal with rural people. housing finance. Commercial banks among them play a dynamic role in providing housing finance by it’s widely spread branches all over India. This paper exclusively studied the rural housing finance and it is found that a large group of intended rural people are untapped by the banks under the housing finance. Thus the commercial banks have

20 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) REFERENCES

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14 Sridharan, S. (2014). Is the Indian Housing Finance Industry Keeping Pace with Changing D e m o g r a p h i c s ? Observer Research Foundation (June).

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FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 21 Research article Performance Appraisal Practices in India: An Assessment of Techniques Adopted by Public Sector Banks

Abstract Dr. Pallavee Shrivastava Banking services are one sector where a great degree of attention is being paid to Senior Research Fellow (UGC- SRF) Performance Appraisal Systems.The “Performance Appraisal” is essentially an (FMS) Banaras Hindu University opportunity for the individual and those concerned with their performance in the bank, (BHU) Varanasi most usually their line manager to get together to engage in a dialogue about the Priyanka Srivastava individual’s performance, development and the support required from the manager. As we Research Scholar know that banking sector is a fast growing sector of India. With swift expansion in the (FMS) Banaras Hindu University number of branches and the new functions assigned to them, banks are beginning to feel a (BHU) Varanasi new pressure on their organizational abilities i.e. the processes of recruitment, placement, Usha Kiran Rai training, promotion and appraisal, in order to ensure that the right number of staff with the Professor right capacities are available at the right time and for the right places. Appraisal is one of (FMS) Banaras Hindu University the key factors of organizational ability which is also the focus of this study. (BHU) Varanasi Keywords: Performance Appraisal, Banking Sectors, Employees feedback.

INTRODUCTION organizational control. Performance appraisal includes all formal procedures used • To diagnose the training and development needs of to evaluate personalities, contributions & potentials of the future. group members in a working organization. It is a continuous • Provide information to assist in the HR decisions process to secure information necessary for making correct like promotions, transfers etc. and objective decisions on employees. • Provide clarity of the expectations and responsibilities of the functions to be performed by The Prerequisites of Performance Appraisal System: the employees. Documentation: – means continuous noting and • To judge the effectiveness of the other human documenting the performance. It also helps the evaluators to resource functions of the organization such as give a proof and the basis of their ratings. recruitment, selection, training and development. Standards / Goals: – the standards set should be clear, easy • To reduce the grievances of the employees. to understand, achievable, motivating, time bound and • Helps to strengthen the relationship and measurable. Practical and simple format: - The appraisal format should be simple, clear, fair and objective. Long and complicated formats are time consuming, difficult to understand, and do not elicit much useful information. Purpose of Performance Appraisal: • To review the performance of the employees over a given period of time. • To judge the gap between the actual and the desired performance.

• To help the management in exercising Source: http://www.naukrihub.com/appraisals/purpose-of- performance- appraisal.html

22 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) communication between superior – subordinates performance, although some recent trends in the area have and management – employees. begun moving the field in the right direction. We review Purpose of Performance Appraisal in Banks these trends and their genesis, and propose a motivational framework as a means of integrating what we have learned According to a recent survey, the percentage of banks (out of and generating proposals for future research that focus on the total bank surveyed) using performance appraisal for the employees’ performance improvement. various purposes are as shown in the diagram below: Shambhu Nath Chowdhury (2008) started that banking The most significant reasons of using Performance appraisal services is one sector where a great degree of attention is are being paid to Performance Appraisal Systems. Several of • Making payroll and compensation decisions – 38% the public sector banks (PSBs) have changed their PAS or • Training and development needs – 14% are in the process of changing them. • Identifying the gaps in desired and actual Arvind Sudarsan (2009) evaluated the “Performance performance and its cause – 23% Appraisal Systems” of 33 diverse organizations. Data was • Deciding future goals and course of action – 6% collected from a respondent from each organization by means of an open-ended questionnaire. Respondents’ views • Promotions, demotions and transfers – 19% were sought on major concerns, desired changes, and LITERATURE REVIEW number of forms used in evaluating performance in the Eichel and Bender (1984) stated that performance appraisal organization. The study observed that subjectivity and can also be called as the Achilles heel of management. appraiser bias were most common apprehensions in Although leaders of many public organizations strive to be evaluating performance appraisal system in the employee focused or employee centered, a lack of emphasis organization. Strong needs were felt for identifying is given to a process intended to assist the employee in measurable parameters for performance evaluation, and achieving both personal and organizational goals. providing multiple feedbacks to trim down appraiser bias. Cascio (1998) defined performance appraisal as a process to Further, objectivity and measurable performance were improve employee’s work performance by helping them found to be most desirable areas to help improve realize and use their full potential in carrying out the performance appraisal system. organization’s missions and to provide information to Y. Zhang (2009) suggested that in Chinese state-owned employees and managers for use in making work related banking industry, employees’ perception of justice has a decisions. He goes on to define effective performance positive relationship to their overall satisfaction with both appraisal system as an exercise in observation and judgment, the performance appraisal process and its outcomes. a feedback process and an organizational intervention. It is a However, statistically significant differences were found in measurement process as well as an intensely emotional relation to whether employees had received training in process. Above all, Cascio stated, it is an inexact, human performance appraisal or not. process that is utilized differently in almost every Ekta Bhatia (2010) The performance appraisal or review is organization regardless of industry. essentially an opportunity for the individual and those Edwards (2000) noted that effective performance appraisal concerned with their performance in the bank , most usually system can provide useful information regarding the their line manager - to get together to engage in a dialogue effectiveness of recruitment efforts, selection strategies, about the individual’s performance, development and the training programs, and career development. support required from the manager. It should not be a top Angelo S. DeNisi & Robert D. Pritchard (2006) examined a down process or an opportunity for one person to ask motivational framework on “Performance Management and questions and the other to reply. It should be a free flowing Improving Individual performance”. This research has conversation in which a range of views are exchanged. resulted in very few specific recommendations about A. Shrivastava and P. Purang (2011) studied the differences designing and implementing appraisal and performance between public and private sector banks with respect to management systems whose goal is performance perception of fairness of the performance appraisal system improvement. We believe that a reason for this is that and performance appraisal satisfaction. Perception of appraisal research became too interested in measurement fairness of the performance appraisal system has been issues and not interested enough in ways to improve studied through nine factors. The study used independent

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 23 samples t-test and qualitative analysis to study the mean criticize the employee in general terms. The goal is to differences between the two banks. Results indicated that evaluate job performance and not the person. A private sector bank employees perceive greater fairness and performance review that turns into a gripe session satisfaction with their performance appraisal system as misses the opportunity to raise employee morale. compared to public sector bank employees. 4 Keep it real. Human resource professionals OBJECTIVES OF THE STUDY recommend that you avoid detailed reviews that are 1 To study the performance appraisal practices in too complicated and mechanistic, which can leave the different Indian banks. employee feeling like a drone rather than a human being. 2 To know about the performance appraisal. 5 Be consistent. Make sure to handle performance 3 To understand the role of performance appraisal as reviews in a consistent manner. Top performers one of the key factors for enhancing should hear affirmations from you regarding their organizational ability. exemplary efforts; weak performers need to hear that their performance requires improvement. A simple RESEARCH METHODOLOGY approach to review criteria is to evaluate work based In depth literature review and available secondary data from on quantity and quality relative to the job various sources has been used to develop this paper. requirements. Secondary considerations might be employee attitude, willingness to help other personnel with their work when appropriate, and the ability to GUIDELINES FOR CONDUCTING EMPLOYEE get along with others. PERFORMANCE APPRAISAL 6 Make it a two-way conversation. An effective You’ve invested your time, your money, and all your energy performance review requires an interactive into building your company. But no company can function discussion with an open agenda. Try to formulate for very long without a team of productive employees questions that seek the employee’s ideas and input. supporting it. It’s important not only that your employees Remember, this will help the employee feel you value feel appreciated, but also that they feel they’re progressing his or her opinions. The review should also be a forum steadily in their careers. for employees to voice their concerns. One of the best ways to ensure this level of job satisfaction is 7 Address what’s important to the employee. Since job by holding employee performance reviews at least once a satisfaction is the most important factor affecting an year. However, as essential as these reviews can be for the employee’s attitude (and therefore his or her level of growth of the company and the well-being of its employees, performance and value to your company), an effective many small business owners remain uncomfortable with the review should delve into areas that include issues entire process. most important to that employee. To make your performance reviews as productive and as 8 Discuss work/life balance. The performance review is painless as possible, follow these 10 tried-and-true a good opportunity to show your concern for the suggestions: employee’s work/life balance, and to jointly discuss 1 Be prepared. First of all, make sure you are fully solutions to improve that balance. It’s also a good time prepared before sitting down with the employee. to create a plan for the employee’s career Decide both what you’re going to say and how you’re advancement and discuss what future opportunities going to say it. might exist for him or her. 2 Lead with the positive. It’s important to reaffirm the 9 Be a good listener. Remember to be an active listener employee’s strengths at the beginning of the review. and to pick up on your employee’s verbal and Since job security is the number one concern of most nonverbal cues. people, the performance review is a good time to tell 10 Review regularly. Reviews should be done an employee how much you value their contributions proactively with the purpose of improving employee to your business. morale and productivity. When you conduct them on 3 Don’t be confrontational. It’s also important not to a regular basis, you avoid reviews prompted solely by

24 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) the need to document an employee’s poor obtain significant data trends. performance. This in turn can imply that the EMPLOYEE NEED FOR FEEDBACK information is being collected as evidence to avoid Although employees vary in their desire for improvement, litigation, should the employee ever be terminated. generally workers want to know how well they are The sign of a successful performance review is an employee performing. A successful farmer recalled with sadness how who leaves the meeting feeling motivated and excited about as a youth he had worked very hard, along with his his or her job. If the employee’s job satisfaction needs are immigrant family, for a farmer who never seemed to notice unmet, it’s less likely they will be motivated to focus on the effort. Years later he met the former employer and asked your goals for the company. But if an employee feels why he had never made any positive comments about their acknowledged, appreciated, and fairly rewarded for past work. The response from the former boss was, “I feared you efforts, he or she will indeed become a valuable asset to the would stop working as hard.” future success of your company. People need positive feedback and validation on a regular basis. Once an employee has been selected, few PERFORMANCE APPRAISAL IN BANKING SECTOR management actions can have as positive an effect on “Performance Appraisal” is a vehicle to (1) validate and worker performance as encouraging affirmation. These are, refine organizational actions (e.g. selection, training); and in effect, good-will deposits, without which withdrawals (2) provide feedback to employees with an eye on cannot be made. This does not mean you should gloss over improving future performance. areas needing improvement. When presented in a constructive fashion, workers will often be grateful for Validating and refining organizational action or banks information on how to improve shortcomings. Such action: constructive feedback, however, “can happen only within Employee selection, training and just about any cultural or the context of listening to and caring about the person.” In management practice—such as the introduction of a new general, supervisors who tend to look for worker’s positive pruning method or an incentive pay program—may be behaviors—and do so in a sincere, non-manipulative evaluated in part by obtaining worker performance data. way—will have less difficulty giving constructive feedback The evaluation or appraisal may provide ideas for refining or suggestions. Furthermore, in the negotiated approach, the established practices or instituting new ones. For instance, burden for performance analysis does not fall on the appraisal data may show that a farm supervisor has had a supervisor alone, but requires introspection on the part of number of interpersonal conflicts with other managers and the individual being evaluated. employees. Some options include:

(1) Paying more attention to interpersonal skills when PERFORMANCE APPRAISAL SYSTEMS IN INDIAN selecting new supervisors, or BANKS (2) Encouraging present supervisors to attend Banking services is one sector where a great degree of communication or conflict management classes at attention is being paid to Performance Appraisal Systems. the local community college, or Several of the public sector banks (PSBs) have changed (3) Providing the supervisor one-on-one counseling. their PAS or are in the process of changing them. Data from “Performance Appraisals can also help farmers: State Bank of India has recently adopted an open system of (1) Plan for long-term staffing and worker development, appraisal. Its associate banks are likely to follow the same or after detailed experiences of State Bank of India are available. Several banks also have self-appraisal as a part of (2) Give pay raises or other rewards, or performance appraisal, although mostly such self-appraisal (3) Set up an employee counseling session, or is more of communication of achievements. (4) Institute discipline or discharge procedures. Allahabad Bank has introduced a system that aims in For validation purposes, it is easier to evaluate performance helping officers to identify their strengths and weaknesses data when large numbers of workers are involved such as in and encourage improvement of performance on the job. banks. Useful performance data may still be collected when Indian Overseas Bank has a system in which a branch employees are evaluated singly, but it may take years to manager gives a self-appraisal on business growth,

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 25 customer service, internal administration and training only. Study of the format of annual appraisal of many of the requirements in great detail. PSBs reveal that they are basically uniform in character with Union Bank of India has an appraisal system in which the emphasis in historical events and little or no importance for reporting officer is required to assess each of his appraisee future growth. In comparison with the new generation banks officers on technical skills, human skills and conceptual and progressive organizations, the appraisal system in skills. All these are defined for different categories of roles PSBs, thus, is basically dysfunctional. The PAS, as an and the assessment has to be made on a five-point scale. important component of Performance Management Corporation Bank, UCO Bank, Central Bank of India, Dena System, is yet to be conceived and made operational. But Bank and Bank of Baroda has introduced similar self- developing and implementing a PAS seems overdue and appraisal formats. vitally important. Punjab National Bank has, primarily, a development- oriented appraisal form. There are ten different formats CONCLUSION available for ten different categories of employees. The The “Performance Appraisal” is the central pillar of bank started the system with a self-appraisal by the performance management in the bank to keep the appraisee. motivation of the employees high. It usually reviews past Studies of the operating system of the successful behavior and so provides an opportunity to reflect on past organizations, in general, reveal that a good PAS is the performance of the bank employees. But to be successful corner stone to navigate an organization successfully in this they should also be used as a basis for making development globalize environment of uncertainty and continuous and improvement plans and reaching agreement about what change. They have, therefore, developed and employed should be done in the future to enhance the bank’s effect and such system and harnessing maximum benefits. But, like effectiveness. Performance appraisal should not be a top many fields of organizational development, the PSBs are down process or an opportunity for one person to ask lagging behind in this area too. Most of the PSBs have an questions and the other to reply. It should be a free flowing Annual Appraisal System that is historic in nature and conversation in which a range of views are exchanged. documents the past activities. It is a one time annual affair

REFERENCES

1 Shrivastava and P. purang (2011) “Employee perceptions of performance appraisals: a comparative study on Indian banks” The International Journal of Human Resource Management ,Volume 22, Issue 3, pages 632-647

2 Cascio, W. F. (1998). Managing Human Resources. Boston. McGraw Hill Publishing Company.

3 Dr. R. Srinivasan (16oct, 2009) “HRD Practices in Banking Sectors”. www.articlesbase.com/human-resource- article

4 Dr. Shambhu Nath Chowdhury (July-Sept, 2008) “Developing Performance Appraisal System for Performance Leadership in Banks”. docs.google.com

5 DeNisi, Angelo S. and Pritchard, Robert D., Performance Appraisal, Performance Management and Improving Individual Performance: A Motivational Framework. Management and Organization Review, Vol. 2, No. 2, pp. 253-277, July 2006. Available at SSRN: http://ssrn.com/abstract=913135 or doi:10.1111/j.1740- 8784.2006.00042.x

6 Edwards, S. T. (2000). Fire Service Personnel Management. Upper Saddle River, NJ Brady Publishing Company.

7 Eichel, E. & Bender, H. E. (1984). Performance Appraisal A Study of Current Techniques. New York. American Management Association.

26 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 8 Ekta Bhatia (2010) “performance Appraisal in banking sector”. www.scribd.com

9 G. Sankaranarayanan (20.01.2007) “Performance Appraisal System in Indian banking”. www.iibf.org.in/portal/documents.

10 Prof R.S.S. Mani (01-07-2008) “Human Resource / HR project in banking sector”. en.allexperts.com/q/human.

11 Raviduth Lalloo “Employee Perceptions of Performance Management at Peoples Bank South Africa” Graduate School of Business-University of Natal Durban.

12 Sudarshan Arvind (2009), Performance Appraisal Systems-A Survey of Organizational Views, the ICFACI University Journal of Organisational Behaviour, Vol.8, No.1.

13 Y. Zhang ( 2009) “Performance appraisal for Chinese state-owned banking industry, volume 6, issue;3 dec 2009, page 189-200. http://www.atypon-link.com/INT/doi/abs/10.1386/jots.6.3.189/1

14 Zelalem Bayisa Gurmessa August, 2007, “ Employees’ Perception of the Problems AND Practices of Employee Performance Evaluation: a Case study of Awash International Bank (AIB)”

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 27 Research article Micro Insurance - A means for Protection & Enrichment of Rural India

Abstract Mr. Ankit Goel Research Scholar, Jiwaji University, India is enjoying rapid growth and benefits from a young population. Its upper & middle Gwalior, M.P. class is growing rapidly but 60 percent of the population is still rural, often very poor, and Mrs. Parul Garg suffering by poor health and health services, and low literacy rates. What happens when a Assistant Professor, BSA Eng. poor family’s earner’s dies, when a child in a poor household is hospitalized, or the home of college, Mathura,U.P. a weak family is destroyed by fire or natural disaster? Every such serious cause threatens the very existence of poor people and usually leads to deeper poverty. These highlights the need for a means that uplift them from these problems and one of the important tool which help in this area is micro insurance. Micro insurance is the term used to refer the insurance to the low income people as it is different from insurance in general where micro insurance is a low value product with less premium and benefits. Micro insurance is a tool for investment, savings and as a measure of social security. It increases the livelihood of the poor where they can eat well, have good health since they wouldn’t have to save as much for emergencies. There is a need for micro insurance in India’s poverty reduction strategy. This paper highlights the need, importance, opportunities and challenges of micro insurance for the upliftment of rural poor’s and also focuses on the initiatives taken by government and insurance companies in the growth of rural India and also helps to understand how micro insurance is helpful in alleviation of poverty. Keywords: Micro Insurance, Health , Poverty , Rural

INTRODUCTION population is engaged in agricultural pursuits. The What happens when a poor family’s single earner’s dies, categories of workers falling under agricultural pursuits are: when a child in a poor household is hospitalized, or the cultivators, agricultural laborers, and workers in livestock, home of a weak family is destroyed by fire or natural forestry, fishing, hunting and plantations, orchards and disaster? Every serious illness, every accident and every allied activities 65% of Indian population resides in the rural natural disaster threatens the very existence of poor people area but they have small insurance coverage. Therefore it and usually leads to deeper poverty. That’s where “Micro opens an enormous opportunity for insurance marketers of insurance” comes in. micro-insurance products. Micro insurance is specifically designed for the protection LITERATURE REVIEW of low-income people, with affordable insurance products The present study embodies a brief review of the research to help them cope with and recover from common risks. It is done in the area of micro insurance. The purpose of a market-based mechanism that promises to support reviewing the earlier studies is to economize the historical sustainable livelihoods by empowering people to adapt and and present prospective of the present work and the related withstand stress. studies which have been taken cognizance of one or more The insurance regulatory and development authority variables includes in the study. (IRDA) defines rural sector as consisting of: Oscar Joseph Akotey, Kofi A. Osei, Albert Gemegah (2011) • A population of less than five thousand, investigated using the probit model indicates that premium flexibility, income level and nodal agency are significant • A density of population of less than four hundred determinants of micro-insurance demand. Insurance per square kilometre, knowledge, expectation (trust) and marital status were also • More than twenty five per cent of the male working found to have positive and significant impact on the demand

28 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) for micro insurance. The analysis showed that formal alleviation of poverty in India. education is not a significant determinant; rather one’s level • To study the opportunities and challenges of Micro of insurance knowledge has a positive and significant insurance in India impact on micro-insurance demand. • To suggest some strategy for proper delivery of Micro Syed Abdul Hamid, Roberts & Paul Mosley (2010) in the insurance products to deprived rural people. study shows that there is a positive impact of micro health Research Methodology insurance in the reduction of poverty among rural households of Bangladesh. Micro health insurance has a Secondary data were collected from different government significant beneficial effect on food sufficiency of poor’s and non govt. published reports and document, IRDA and has a dynamic improvement in the health status of poor Annual Reports, Newspaper, Magazines and relevant rural households. online sources. Gunita Arun Chandhok (2009), the result of study indicates that there is a huge untapped market for micro health DEVELOPMENT OF MICRO-INSURANCE IN INDIA insurance and majority of population are aware and Traditionally in India, rare micro-insurance schemes were understand the importance of micro health insurance. Thus, introduced, either by non- governmental organizations. micro insurance will go a long way in eradicating poverty. If These schemes have now gathered momentum partly due to the various micro insurance models are implemented the development of micro-finance activity, and partly due to effectively by Insurer, MFI s, SHG s, NGO s, Health the regulation that makes it mandatory for all formal institutions, Donors and Co-operatives, the BPL population insurance companies to extend their activities to rural and will lead a peaceful and secure life. well-identified social sector in the country. Lena Giesbert (2008), the results show that the potential These obligations are to be fulfilled right from the first year demand for insurance in the survey area seems to be very of commencement of operations by the new insurers. Third, high within 95% of the non-insured households showing a there is no entry option available to insurers who are not general interest to buy insurance. Most of the potential keen on servicing the rural and low-income segment. clients are interested in health, death, or old age insurance. Finally, non-fulfillment of these obligations can invite So survey study says that micro insurance providers reach a penalties from the regulator. In order to fulfill these high number of clients in the survey area but mostly to the requirements all insurance companies have designed richer people. The group of poor segments in society seems products for the poorer sections and low-income to be rather limited by micro insurance individuals. Both public and private insurance companies Prof. M. Ziaulhaq Mamun (2007) concluded that there are are adopting similar strategies of developing collaborations three basic models of micro insurance i.e. Provider model, with the various civil societies associations. Insurer model and Linked model. As per the study, linked Research Methodology model is the best suitable model for the improvement of Secondary data were collected from different government poor’s conditions, but presently they are using Insurer and non govt. published reports and document, IRDA model, which is less productive for poor’s social security. Annual Reports, Newspaper, Magazines and relevant Jim Roth and Gaby Ramm (2006) in a report of Federal online sources. Ministry for Economic Cooperation and Development explores how micro insurance began in India, and gives reasons for its dynamism. DEVELOPMENT OF MICRO-INSURANCE IN INDIA It investigates into the supply and demand of micro- Traditionally in India, rare micro-insurance schemes were insurance in India, gives the various channels for introduced, either by non- governmental organizations. distribution, & an examination of social security in India These schemes have now gathered momentum partly due to and its relationship to micro-insurance. the development of micro-finance activity, and partly due to the regulation that makes it mandatory for all formal insurance companies to extend their activities to rural and OBJECTIVE OF THE STUDY well-identified social sector in the country. • To explore the need and importance of Micro These obligations are to be fulfilled right from the first year Insurance for the enrichment of rural poor’s and

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 291 of commencement of operations by the new insurers. Third, be: there is no entry option available to insurers who are not • Loss of life: Most household members contribute to keen on servicing the rural and low-income segment. household income, except those too Finally, non-fulfillment of these obligations can invite old, young or infirm to work; penalties from the regulator. In order to fulfill these requirements all insurance companies have designed • Critical illness: This has the dual impact of loss of products for the poorer sections and low-income earnings/household labour as well as individuals. Both public and private insurance companies treatment expenses; are adopting similar strategies of developing collaborations • Illness that reduces the working days and also creates with the various civil societies associations. expenses though at a smaller level than critical illness;

Microinsurance As new Business Microinsurance As a tool for Model for Existing Insurers Microinsurance Eradicating the Poverty, social protection & Social security for The low households Socioeconomic profile of Micro insurance clients and it’s relation to Micro insurance: • Old age, because there are few income options during • Agricultural labour is the main source of income. The old age. In addition, there is some implications of this are that much of the income is evidence of emerging social trends in which the irregular and seasonal. Premium collection must take obligation of the young to take care of the old is into account the particular variances in the seasonal weakening; income of this market. • Risk of lowered agricultural productivity or returns, • They typically live in households of five or more, e.g., through low levels of rainfall or sharing income and access to financial services. This has important implications for access to micro natural catastrophes; insurance. • Asset loss especially those assets used to generate • Low levels of literacy imply that marketing needs to income ; be done without written media: for example, film, • Among specific occupational groups (e.g., radio and word of mouth. construction workers) accident at the workplace and • The group’s poverty means that they present a higher disability. than average risk profile for many types of insurance, MARKETING MICRO INSURANCE e.g., lack of sanitation, lack of access to clean water, hazardous working conditions and poor nutrition • Tata-AIG has had success building trust with the imply higher rates of death and disease. potential micro insurance market by emphasizing its • The rural poor often live in areas with LIC JeevanMadhur, JeevanMangal, JeevanAmritYojana inadequate road and Bajaj SaralSuraksha, Alp NiveshYojana, Jana VikashYojana telecommunications Birla Sun Life Bimakavach, Bima Suraksha super, BimaDhanSancahy infrastructure, which increases the costs of ICICI Prudential Sarv Jana Suraksha selling and servicing IDBI federal life insurance IDBI federal group micro insurance plan policies. Tata AIG Life Nav kalyan Yojana, Sampoorn Bima Yojana, Ayushman Yojana, Sumangal Bima Yojan a Risks and vulnerabilities SBI Life Grameen Shakti The insurable perils would Aviva Life Jan Shuraksha

30 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) Tata links. Tata is a trusted company or at least • The service provider and the insurer are the same, i.e., deemed unlikely to misappropriate premiums by hospitals or doctors offer policies to individuals or low-income clients. Others insurers with trusted groups. local partners could make use of their connection to FINDINGS- PROBLEM, ISSUES & CHALLENGES these partners for the same purpose. • For illiterates it is very difficult to understand the • In addition, public reimbursement of claims, for terms and conditions of the insurance policy. example at village meetings, is important. It • Difficulties in understanding technology introduced demonstrates the advantages of having insurance by the service providers. with a real example. • Lack of awareness about worth of micro insurance. • Other micro insurance marketing tools used are exposure tours, where village leaders from villages • Those who had some information about insurance with policyholders are sent to other villages to show products and used it were not very satisfied with the the advantages of having insurance. current product design. • Also important are careful, well -managed rejection • Cumbersome and lengthy process of documentation of claims where the reasons are made clear to all the and claim settlements, inconvenient premium villagers. payment system, lack of proximity to the financial institution and lack of trust on staff of the providers • Finally, as with high premium insurance, monitoring are some key factors that discourage uptake and of customer satisfaction is critical, especially with renewal of micro insurance among low-income respect to lapses and non -renewals, reinforced by a groups. mechanism to act on the information that emerges from this monitoring. • Low-income clients are often illiterate and unfamiliar with the concept of insurance, requiring Delivery Mechanism : Micro-Insurance Models new approaches to both marketing and contracting. A key concern in the pricing of an insurance product is the • The contemporary insurance paradigm is not geared element of cost of acquisition and its delivery. Obviously, to serve the poor – high costs, restrictive access and the delivery costs have to be contained to keep the cost of low transparency being the chief reasons. insurance sufficiently low to attract the poor and to incentivise the insurer to venture into this segment viewing • Irregular cash flows of households where they are it as a genuine market opportunity. The Committee studied unable to pay the premiums. four different models for delivering micro insurance • A customized insurance product for family health services to the targeted clientele : care, covering common diseases and illness, was the 1. Partner - Agent Model most preferred insurance product across activity groups and regions. • Insurers utilize MFIs’ delivery mechanism to provide sales and basic services to clients. • There is no risk and limited administrative burden for SUGGESTIONS MFIs. It is suggested that MFIs for creating awareness should 2. Full Service Model create demonstration effect in which poor people see insurance as a part of their risk management strategy. They • The provider is responsible for all aspects of product should more align with SHGs as they more in touch with design, sales, servicing, and claims assessment. people below poverty line. For increasing effectiveness, • The insurers are responsible for all insurance-related insurance companies should provide support in terms of costs and losses and they retain all profits. resources and human resources. Their role should be made 3. Community Based Model more authorised and better incentives should provide to • The policy holders own and manage the insurance them for boosting up their morale. Companies should program, and negotiate with external health care design the product considering needs and preference of providers. poor people at low premium rates and claim settlement process should be simplified which become quite easy to 4. Provider Model approach. Few are the important suggestions:

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 31 trained rural life insurance agents, especially micro • Response to clients‘ needs and preferences across insurance agents, for the micro insurance products groups and regions need to be considered along with only. For this reason IRDA should monitor the affordability and simplicity aspects while designing quality of trainings imparted to the life insurance products. agents/advisors. • While designing new insurance products regular • Government Sponsored schemes Minimizing the consultations with all stakeholders is crucial for documentations and developing efficient, better customization and to minimize the differences transparent claims processing systems. Product in stakeholders‘ perspectives. should be affordable to the poor. • As intermediaries of microinsurance,‘ like MFIs • Flexibility in premium payment should be prioritize to protect their assets rather than looking introduced. for a long term insurance business. They may be involved as a business partner rather as CONCLUSION intermediaries on some commission basis. The studies clearly indicate that access to micro insurance • Possibility of involving local institutions such as by the poor and disadvantaged population can contribute post-office, RRBs and community-based significantly to the achievement of the goals, particularly organization may be experimented as distribution the goals of eradicating extreme poverty and hunger, channel. promoting gender equality and empowering women and • The design of micro-insurance should be simple and developing a global partnership for development. flexible. There is an enormous market potential for customized • All insurance products in India attract a 10.36% micro insurance products and a huge space for innovation. service tax, but to increase penetration in In order to realize macro impacts of micro insurance, wider • rural sector and to make insurance within reach of the outreach is desirable but its effectiveness is equally villagers, it is important that this tax is done away importance. However, more region and group specific with. policy attentions are urged to improve the efficacy of micro insurance sector without compromising its outreach. • It is highly recommended to induct more and more

REFERENCE

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3 Dalal, A., Morduch, J.,”The psychology of microinsurance: Small changes can make a surprising difference: Microinsurance Paper Prathima Rajan,”Micro insurance to the Last, the Least and the Lost – a case study of Rural India”, Report published by Celent, a division of Oliver Wyman, Inc., 2011.

4 Schneider, P.,”Why should the poor insure? Theories of decision-making in the context of health insurance”, Health Policy and Planning, 19, pp. 349-55, 2004.

5 Craig Churchill, “What is insurance for the poor?” International Labour Organization 2006, ISBN 978-92-2-119254-1 (ILO).

6 Microinsurance Conference 2007, “Microinsurance a pillar of India’s strong Economic growth”, Munich Re

32 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) Foundation,

7 Press Release, 14 November 2007.

8 M.Vishwanathan, “Microfinance in the eradication of poverty”, Organizational Management ,VOLXXIV No.1 April- June 2008.

9 Rajeev Ahuja and Basudeb Guha-Khasnobis, “Micro-Insurance in India: Trends and strategies for further extension.” Indian council for research on International Economic Relations”, June 2005.

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11 http://www.linkedin.com/in/kirtisingh19

12 UNDP reported the study, Building Security for the Poor: Potential and Prospects for Microinsurance in India.

13 Roth James, Churchil Craig, Namreta (Sep. 2005) Micro insurance and Microfinance Institution Evidence from India, CGAP working group on Micro insurance Good and Bad Practices, Case study no. 15.

14 www.microinsurance network .org/micro insurance MFI case - study.

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 33 Research article A scale development approach to the Influence of country of origin in car purchase

Abstract T. Frank Sunil Justus The car is an occasional and costly purchase made by Indian consumer and hence it creates a high Assistant professor , Annamalai perceived risk in the purchase process. The consumer turns towards different surrogate indicators to ensure that the purchase turns out to be fruitful in the long run. This paper tries to identify the University. dimensions of country of origin and develop a scale on the influence of country of origin on car purchase behavior. The study was carried out in major towns of Cuddalore district in Tamil Nadu state T. Sunitha and was limited to respondents who were first car owners using recall survey method. Country of origin Assistant Professor , Government Arts in this manuscript refers to the country where the company was started The study was carried out in College for women, Pudukottai, major towns of Cuddalore district in Tamil Nadu state and was limited to respondents who were first car owners and a total of 180 respondents were surveyed. The influence of country of origin was segmented under six dimensions namely safety, technology, financial, decision, social and time attributes. The model fit indices indicated an acceptable fit. This manuscript would be helpful to automobile manufacturers to identify their strengths and weaknesses and also to find where they stand in the perception of customers. In future the study ca n be extended to different geographical locations in India. Author Details : T. Frank Sunil Justus a chemical engineer was earlier senior operation Engineer at Tuticorin Alkali Chemicals and Fertilizers Limited and presently an Assistant professor at Department of Business Administration, Annamalai University. Email: [email protected] T. Sunitha is an agriculture graduate with doctorate in Management and is an Assistant Professor at Government Arts College for women, Pudukottai, Tamil Nadu. Email: [email protected] Key words: Country of Origin, Safety attribute, Technology attribute, Financial attribute, Time attribute, Competitive advantage

INTRODUCTION workmanship and superior technology will be worth T. Frank Sunil Justus studying. A scale development approach to the Influence of country of The country of origin is an advantage thrust upon countries origin in car purchase because of their industrialization in the past that provides an aura of perfectness in their future products. Nagashima A car is often one of the most costly and occasional purchase (1970) established country of origin as the portrait, the made by most Indian customers. Hence the Indian customer dignity and the stereoplate that customers attach to products searches all sources of information to ensure their purchase of a particular country. Yasin, Noor & Mohamad (2007) satisfies their requirements without turning out to be held that brands from countries with an approving country expensive in future. The country of origin can indirectly image are usually more willingly accepted than brands from help customers to ascertain the quality of the product. countries with less favorable images. Ozsomer and Country of origin in this manuscript refers to the country Cavusgil (1991) defined country of origin as the country in where the company was started and is not concerned with which where the car is presently being assembled. Dichter (1962) identified an offering’s country of origin to have a high level manufacturing the product is situated. This paper takes a of influence on the approval and success of products. look at the dimensions of country of origin that influence the Schooler (1965) indicated huge differences in the purchase of car. assessment of products that were indistinguishable in all respects other than the name of the country given on a ‘made REVIEW OF LITERATURE in’ label. Hence the role of country of origin as a surrogate Brigham (1971) explained that consumers are influenced by indicator in providing the customer cues on quality, country of origin information as they build up country

34 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) stereotypes based on social environment and consumption dimensions of the influence of country of origin in purchase acculturation. Nagashima (1970) revealed that country of car image can be subject to change after a certain period. METHODS Johansson and Thorelli (1985) identified that Consumers The questions were based on the factors of influence of tend to build a product -country image through information country of origin in purchase of car developed on the basis collected from either personal experience or through other of focus group outcomes. This scale was developed on a five sources. Li & Monroe (1992) found that Country of origin point scale with 1 indicating strongly agree, 2 agree, 3 may correlate a product with status, genuineness and corresponded to neither agree nor disagree, 4 Disagree and 5 exoticness. Roth and Romeo (1992) described country indicated strongly disagree. The research instrument was an image as the sensations of consumers about products from a interviewer administered survey. The study was carried out specific country based on their former sensations of that in major towns of Cuddalore district in Tamil Nadu state and country’s output and powers and abilities of marketing. was limited to respondents who were first car owners. The Peterson and Jolibert (1995) showed that country of origin data was collected using personal interview method and a can powerfully manipulate product evaluations. total of 180 respondents who purchased a car within the last Samli (1995) found country of origin as an essential four months and identified through snow ball sampling information cue, that had a role in product acceptance across method. In this technique respondents provide clues about new markets. Yong (1996) established that customers who possible new car owners and the survey builds on based on a needed to evaluate a product with a weak experience of non-probability sampling technique. The recall survey foreign products used country of origin as a surrogate base. method was used as car was a high involvement product. Kim and Chung (1997) held that consumers’ discernment of Simcock, Lynn & Gillian (2003) indicated that a recall test a brand from a certain country creates in their mind with high measures of validity and reliability underpin intangible assets and also liabilities. Verlegh and much understanding of consumer behavior. The study was Steenkamp (1999) divulged that products made from less carried out in major towns of Cuddalore district in Tamil developed countries are put to a greater country of origin Nadu state and was limited to respondents who were first car effect, and are assessed less favorably than products made owners. The idea was to not entertain a bias based on from more developed countries. Pharr (2005) found that previous car ownership experience. The respondents were Products coming out of a certain country often acquire the limited to Volkswagen, Ford, Hyundai, Maruti, Honda, general image of that country’s products. Toyota, Skoda, Mahindra, Tata and Renault brand of cars. Analysis and Interpretation OBJECTIVE Exploratory factor analysis was performed with varimax To develop a comprehensive scale and identify the rotation on the total twenty two questions.

Table 1 Components of influence of country of origin in purchase of car

Components of influence of country of origin in purchase of car Dimensions Loadings

The doors and panels in cars of the country are of good COO9 .940 thickness and provide safety Features like ABS and airbags are standard fitments in cars of COO15 .929 the country Safety Features like built in steel rods in bumpers are provided in cars COO3 .916 of the country

COO18 car brands originating from this country have frequently been .858 approved as safe in independent crash tests COO5 Feel cars of the country are high on technology .939 Companies of the Country source components from quality COO7 .923 vendors Technology COO12 The plastics on interior and door trims are of superior quality .883 COO17 Feel assured there will be no breakdowns during a long drive .860

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 35

car brands originating from this country are seen as value for COO13 .942 money car brands originating from this country do not have nagging COO20 .914 troubles that add to service bills Financial car brands originating from this country come loaded rather COO6 .884 than with provisions (like slot for fog lights) The warranty procedure of car brands originating from this COO19 .869 country are transparent compensate my lack of experience by choosing car brands COO1 .926 originating from this country Through my criteria of country origin I select the best car COO21 .913 among those available in its class in the market Decision I make an informed decision by selecting car brands originating COO4 .855 from this country car brands originating from this country are always acceptable COO11 .841 to my family COO16 Feel I drive a car that is globally recognized as good .925 Social Know that my choice of car is appreciated by my peers and COO22 .912 friends

COO8 Feel I would look more important when I am seen in the car .861 COO10 Did not waste my time searching for other brand of cars .908 car brands originating from this country usually have company COO2 Time .907 backed finance schemes COO14 Did not have the need to ask opinion about the car to anybody .847

Table 2 Eigen Value and Variance of dimensions of dissatisfaction in service of car

Summary Statistics F1 F2 F3 F4 F5 F6 Eigen Values 4.61 3.48 3.19 2.74 2.28 1.93 % of variance explained 20.94 15.83 14.51 12.46 10.37 8.77 Cum % of variance explained 20.94 36.77 51.27 63.73 74.10 82.87 N = 180 Sample = All respondents Unit = Factor loadings

Source: Primary data

The first dimension categorized as safety attributes The second dimension identified as technology consisted of statements such as stronger doors, safety attributes accounting for 15.83 percent of variance features being standard fitments, built in steel rods for concerned statements such as being high on technology, improved safety and being approved in independent sourcing components from quality vendors and interior crash tests. Companies from certain countries never plastics being of superior quality. As a modern day car is compromise on strength of vehicle which adds up to the composed of parts sourced from different places people confidence customers have for vehicles of that country. believe on the country of origin of the brand to ascertain Sohail (2005) found that products of German companies the car is composed of quality parts. Lawrence & tend to have positive quality reputation and German Prendergast (1992) indicated that people describing automobiles have a major place in Germany’s good German automobiles, spoke of reliable automobiles, reputation. Muchbalcher, Dahringer & Leihs (1999) better performance, excellent engineering, and prestige. said that country-of-origin is used by customers to The next dimension categorized as financial attributes forecast products’ quality and performance and to concerned components such as not giving small troubles, recognize the reasonableness of their purchasing cars provided with accessories rather that provisions behavior. This dimension accounted for 20.94 percent of which one has to buy after buying the car, transparent variance.

36 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) warranty and being value for money. The country of by itself provides a statement on the selection process of origin often provides a halo to the customer that the car the user. Fan & Burton (2002) affirmed that as will not make the user to spend extra. Liefeld (1993) automobiles are used conspicuously the ownership of found that country image influenced consumer prestigious automobiles is influenced by social interface valuation of product quality, risk and possibility of along with its function. The social attribute dimension purchase. The financial attribute dimension accounted accounted for 74.10 percent of dimension. for 14.51 percent of variance. The last dimension identified as time attributes The next dimension classified as decision attributes concerning 8.77 percent of variance involved statements concerned statements such as compensating for lack of such as not wasting time searching for other cars, experience, choosing the best car of its class, making an choosing cars with company backed finance schemes informed decision and car being acceptable to all in the family. Maheswaran (1994) found that consumers use country’s image as a product evaluation cue when not familiar with the country’s product. Jin, Byung and Wei ( 2 0 1 3 ) s t a t e t h a t consumers with low and h i g h p r o d u c t knowledge are more likely to be influence by country of origin fit information than those with moderate product information. Bilkey and Nes, (1982) found that the product origin in consumer evaluations is a halo that people use to deduce the quality of unfamiliar foreign products based on Country image. The decision dimension accounted for 12.46 percent of variance. The next dimension recognized as social attribute involves statements such as the c a r b r a n d b e i n g globally recognized, being appreciated by friends and having a sense of importance. A car with a prestigious country of origin often

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 37 and not having the necessity to seek opinion from others. Model fit

Table 3 Model fit indices for the six dimensions of Country of Origin that influence the purchase of car Index of CMIN DF CMIN/DF GFI AGFI NFI RFI IFI CFI RMSEA fit Value 422.558 194 2.178 .827 .774 .882 .859 .932 .932 .081

Bruning (1997) indicated country of origin as a vital The above measurement showed a satisfactory data fit. information cue that consumers depend on to assess a The CMIN/ DF ratio was 2.178, which is within the product’s quality performance. agreed range of less than 3 which pinpoints a

Table 4 Influence of country of origin in purchase of car

Components of influence of country of origin in Mean SD Dimension Mean SD purchase of car The doors and panels in cars of the country are of good 2.81 1.25 thickness and provide safety Features like ABS and airbags are standard fitments in cars of the country 2.89 1.31 Features like built in steel rods in bumpers are provided in cars Safety 2.75 1.19 2.61 1.32 of the country car brands originating from this country have frequently been 2.68 1.29 approved as safe in independent crash tests Feel cars of the country are high on technology 3.57 1.62 Companies of the Country source components from quality 3.59 1.44 vendors Technology 3.43 1.29 The plastics on interior and door trims are of superior quality 3.29 1.34

Feel assured there will be no breakdowns during a long drive 3.28 1.21 car brands originating from this country are seen as value for 3.12 1.42 money car brands originating from this country do not have nagging 2.86 1.50 troubles that add to service bills Financial 2.93 1.17 car brands originating from this country come loaded rather 2.83 1.12 than with provisions (like slot for fog lights) The warranty procedure of car brands originating from this country are transparent 2.94 1.13 compensate my lack of experience by choosing car brands 2.65 1.23 originating from this country Through my criteria of country origin I select the best car among 2.56 1.04 those available in its class in the market I make an informed decision by selecting car brands originating Decision 2.66 1.01 2.67 1.14 from this country car brands originating from this country are always acceptable to my family 2.76 1.16 Feel I drive a car that is globally recognized as good 2.77 1.25 Social Know that my choice of car is appreciated by my peers and 2.96 1.52 2.87 1.21 friends Feel I would look more important when I am seen in the car 2.89 1.24 Did not waste my time searching for other brand of cars 2.84 1.53 car brands originating from this country usually have company 3.10 1.54 Time 2.91 1.29 backed finance schemes Did not have the need to ask opinion about the car to anybody 2.77 1.23

38 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) satisfactory fit between the sample data and maintain by adopting the right practices to satisfy the hypothetical model. The values of the fit indices are customer. Companies with a weak country of origin given in the table below and the values show the model as effect will have a natural disadvantage in that even a acceptable. small negative point will make the customer to have a From above table the incremental fit index (IFI) and strong prejudice against them. However if such relative fit index (RFI) values close to 1 indicate a very companies can come out with high performance cars good fit. The GFI (goodness of fit index) value is less than that are trouble free, have high comfort levels and are 1 at 0.827 and hence indicates an acceptable fit. capable of providing a good service can overcome the negatives over a period of time. Companies that have a The reliability of the six dimensions were established positive country of origin effect cannot sit with their past through Cronbach’s alpha calculation and were and negative aspects can kill their advantage over a considered adequate as they are above 0.70 period of time. Hence such companies have also to ensure they have high performance vehicles backed up Table 4 - Reliability analysis by good service. A country of origin advantage indirectly Dimensions Cronbach’s Alpha puts a commitment on such companies to deliver the best Safety 0.94 in return for the admiration possessed by such an advantage. This manuscript would be helpful to Technology 0.93 automobile manufacturers to identify their strengths Financial 0.92 and weaknesses and also to find where they stand in the Decision 0.91 perception of customers. In future this study can be Social 0.89 extended to other geographical areas and can also Time 0.88 include the influence of country of origin on products other than automobiles. The list of the final set of Total 0.72 components that measure the six dimensions of country of origin that influence the purchase of car is tabulated Companies that have a positive country of origin effect below. have a huge competitive advantage which they have to

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FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 39 9 Lawrence, C., Marr, N., & Prendergast, G. 1992. Country-of-origin stereotyping: A case study in the New Zealandmotor vehicle industry. European Journal of Marketing, 26(3), 37-51

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40 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) Research article

Level of Occupational Stress Among Female Teachers

Abstract Shivani Dhodi Stress in my society is very prominent in both personal as well as professional life. No occupation Research Scholar, Banasthali is free from stress. But the occupations that researcher consider more stressful is teaching. Stress University can generally be defined as the reaction of individuals to demands (stressors) imposed upon them that refer to situations where the well-being of individuals is detrimentally affected by their Dr. Indu Bansal failure to cope with the demands of their environment (Erkutlu and Chafra, 2006). Stress is a Dean, Faculty of Home Science, multidimensional and a complex phenomenon, which is influenced by personal, situational and Banasthali University structural factors. Stress reveals a multi-level phenomenon that results in unpleasant negative emotions, such as anger, frustration, depression etc. Prolonged occupational stress in teaching has been found to result in both mental and physical ill health, ultimately having deleterious effect on teacher’s professional efficiency. Since valuable studies have already been undertaken on certain aspects of educator stress, this article attempts to provide an overview of the occurrence of stress among female teachers. In accordance to this the aim of the study was chosen as “level of occupational stress among the female teachers” with reference to types of school and some personal variable. The sample size for the study was 100 Female teachers working in different higher secondary schools of Bareilly city of Uttar Pradesh, which had been selected by Random Sampling technique. The data was collected with the help of Occupational Stress Index (5 point rating scale), Socio-Economic Status Profile and semi structured interview. The analysis of mean and graphical representation used for the analysis of data indicated that types of school, age. Teaching experience, socio-economic status has significant influence on occupational stress of female teachers. The study could be used to create awareness among the schools to prevent loosing effective teachers and it would be helpful to follow an early intervention program on the stress management for their teachers.

Key Words: Occupational Stress, Female Teachers, Personal Variables

INTRODUCTION burden, which is generally called occupational stress. The Stress in my society is very prominent in both my personal stress affects both the body and the mind either positively as as well as professional life. None of my occupation is free motivation in its smallest amount or negatively as a burden from stress. But the occupations that researcher consider in its highest amount of pressure that the individual cannot more stressful is teaching. Stress can generally be defined as shoulder. In turn, that leads to physical and psychological the reaction of individuals to demands (stressors) imposed problems. A Study revealed that among 560 female upon them that refer to situations where the well-being of educators in the North West Province attempted to individuals is detrimentally affected by their failure to cope determine the occurrence of burnout among female with the demands of their environment (Erkutlu and Chafra, educators. They found that almost one third of educators 2006). Stress is a multidimensional and a complex suffered from a high degree of emotional exhaustion in the phenomenon, which is influenced by personal, situational present era of fast paced and competitive society. No one in and structural phenomena that results in unpleasant whatever profession may be can keep at bay from stress negative emotions such as anger, frustration, depression etc. (Van der Linde et al. 1999). Nowadays, any individual’s work situation is highly Stress is defined as ‘the pattern of emotional states and demanding. Either he has to improve his career strength as physiological reactions occurring in response to demand and when required by the occupational demands or has to from within or outside an organization’ (Greenberg & quit/maintain a low profile. The competitive era demands Baron, 2003; Singh, 2003). A stressor, on the other hand, is more from the individual employee than his actual ability. considered to be ‘a condition or situation that elicits a When the demand exceeds the capacity to fulfill it, the negative response such as anger, frustration, anxiety or concerned person feels that the excessive demand is a tension’ (Rajeswari & Anantharaman, 2003). Workplace

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 41 stress is quite common and can be measured through provides an exact measure of the development of that different sources. Workload, time pressure, role ambiguity, society”. As the women are coming out in thousands to take role conflict, career progress and communication are up jobs and positions in the field, they are loaded with extra considered as major sources of pressure in the life of an burden of tasks. Modern women have the dual Information System professional (Ivanchevich, Napier and responsibilities of concentrating at family and work. Beside Wetherbe, 1983). Pressure ultimately causes the stress that her daily domestic duties and work pressure; a working leads to different types of strain and finally hampers the women have to live with a number of other stress born out of performance of the employees. Stress, not just affects the different reasons. efficiency of the employees, but also causes ailment and The role of women as teachers is vital as they noteworthy other physical or emotional problems as well (Singh, 2003). contribution to the task of molding the personalities of Occupational stress is the most common psychological future citizens. A women teacher cannot carry out phenomenon in different jobs and professions. efficiently each of the role as a wife, mother, house holder Occupational stress, hence, is found to be a mental and and social being. Many time women suffer from guilty physical condition that calls in a detrimental effect on the consciousness and find themselves torn between home, individual’s productivity, effectiveness, personal health and school and society. This condition creates stress and quality of work (Comish and Swindle, 1994). Main associated psychological disorders. Stress cannot be components of this work-stress process are potential avoided in any society. One has to learn to live with it, cope sources of stress (stressors), factors of individual with it and if possible try to overcome it. Stress influences differences (moderators/mediators) and consequences of all people including women teachers at one time or the stress (strain). Stressors (job-related and extra- other. The physical, psychological, professional, organizational) are objective events; stress is the subjective intellectual and social factors not only cause the stress but aspect (Lu et al., 2003). Thus the concept of stress can best also influence the efficiency of the women teachers. Unless be understood by saying that some environmental variables measures are taken to estimate and minimize the stress, the (stressors) when interpreted by the individual (cognitive efficiency and expertise of the women teachers cannot be interpretation) may lead to stress (Dua, 1994, 59). utilized at the optimum level. Researchers have come to believe that stress may be If the stressful situation is unmanageable, various aspects of especially prevalent among human service professions, teacher’s performance such as creativity, class-room particularly the teaching profession (Kyriacou, Sutcliffe, management and implementation of educational techniques 1992). Prolonged occupational stress in teaching has been may suffer. If the factors are correctly identified and found to result in both mental and physical ill health, controlled better outcomes can be achieved which in turn ultimately having deleterious effects on teacher’s leads to preparation of better future citizens and contribute professional efficiency. Working conditions for black to the family and the society , the nation and the world at educators in particular have not been favorable, since they large. So, there is a need to study the factors affecting the have been confronted with overcrowded classrooms and a stress of working women particularly in the teaching lack of resources and facilities due to disparities during the profession. Assessment of the level of occupational stress apartheid dispensation (Ngidi and Sibaya 2002, 8). will help us in recognizing the main causal factors and Stress of the teaching profession may affect the school as an remedies, thus to get their excellence in the job. It will help organization, teacher performance and the physical and them in their improvement and the wholesome emotional well- being of the teacher. A good health and improvement of the society. Thus, it is essentials to study stress free life are essential for a teacher to develop the the level of occupational stress and its causal factors among knowledge and attitude of the students, which will make the the women teachers. Keeping all points in mind researcher teaching in turn learning effective. Teaching is a profession has formulated the following statement and objective of the that plays an important role in a countries development. problem: Teachers are the people that affect the country’s economy. A society can achieve development to the fullest extent only STATEMENT OF THE PROBLEM if all the human resources in it are being utilized at the “Level of Occupational Stress among Female Teachers” optimum level. According to a Swedish sociologist, Gustave Geigar - “The position of women in society

42 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) OBJECTIVES OF THE STUDY Tools- • To study the level of occupational stress among 1. OCCUPATIONAL STRESS INDEX ( By female teachers working under different types of A.K.Shrivatava and A.P.Singh) schools. • To study the level of occupational stress among NORMS TABLE female teachers with reference to their- Occupational stress scores L e v e l o f ©Age occupational stress ©Teaching experience 4 6 - 1 2 2 ©Teaching subjects Low ©Socio- economic status 1 2 3 - 1 5 5 Moderate

HYPOTHESIS OF THE STUDY 1 5 6 - 2 3 0 High • Level of Occupational stress experienced by female teachers varies according to- 2. SOCIO – ECONOMIC STATUS PROFILE (Self ©types of school constructed) ©some personal variable- 3. INTERVIEW (Semi structured) ©Age (below 30 yrs./30-35 yrs./above 35 yrs.) Techniques – According to the nature of data researcher has © Teaching experience (0-5 yrs./5-10 yrs./ more than used the both quantitative and qualitative analysis. For the 10 yrs.) quantitative analysis of data got from OCCUPATIONAL ©Teaching subjects ( arts / science / commerce) STRESS INDEX and SOCIO – ECONOMIC STATUS ©socio – economic status ( high / middle / low ) PROFILE researcher has used the analysis of Mean and Graphical Representation(Bar Diagram and Pie-chart) in OPERATIONAL DEFINITION OF THE VARIABLES present study. The data got from INTERVIEW were USED qualitative in nature . So, for analyzing these data qualitative Occupational Stress – Kyriacou and Sutcliffe defined analysis has been used in present study. “Teacher Stress as a response of negative effects such as anger, anxiety and depression arising from the aspects of teacher’s job and mediated by the perception of the demands MAJOR FINDINGS OF THE STUDY made upon the teacher”. Thus, occupational stress is a • The level of occupational stress among the female response to negative effect by a person who is in that teachers varies according to type of schools and particular occupation, usually accompanied by potentially, some personal variables such as age, teaching pathogenic, physiological and biochemical changes experience. Teaching subjects and socioeconomic resulting from aspects of that occupation. status. • Female teachers working in non Govt. Schools METHODOLOGY were more stressed as compared to govt. schools women teachers. Method- Survey method was used by the researcher for the present study. • Female teachers of age group below 30 years were found to have more stress as compared to 30-35 Sample- years and above 35 years age group. Sample selection- Female teachers from various • Female teachers of 0-5 years experience are found government and non- government senior secondary school to have more stress as compared to 5-10 years and were chosen for the present study. more than 10 years of teaching experience. Sample Size- For assessing the level of occupational stress • Female teachers teaching science subject are of female teachers, the sample size was 100, which has been found to have more stress as compared to teacher selected by Random Sampling Technique

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 43 who are teaching arts and commerce subjects. remuneration, and more job opportunities outside the field • Female teachers having low socioeconomic status of education non cooperative parent etc. the stress is face high level of occupational stress as compared optimally high in teachers working in non government to teachers who pose middle and high economic schools, posing low socioeconomic status and teaching status. science subject due to lack of esteem in the society, low

BAR DIAGRAM-1(SHOWING MAJOR FINDINGS OF THE STUDY)

CONCLUSION remuneration and administration constraint, less salary as The present research provides valuable insight in to the field compared to workload, extra paper work or administrative of teaching, moreover, the stress being an important work etc. psychological variable, experienced in day to day, by Teachers work daily with students having unique problem everyone, causing psychological and physical health and potentials. During school hours, teacher must cope with problem is an additional cause for the teachers due to their numerous interruptions, student with special needs, professional requirements. insufficient funding and lack of parents support. Moreover work does not end when teachers go home as in the case of other job, preparation, references, correcting the note The teachers play an important role in spreading education books, valuation etc. must be attended even after they reach and building up healthy society. Teachers play an important home. role not only in the academic development, but also in the behavioral, social and emotional development of children. The high level of stress result in great attrition rate among The teachers in this process are prone to long hour of work, these women teachers. If there is retention, it results in more commitment with the teaching and other professional health problem, leading to frequent absenteeism and thus, requirement, and excessive workload. More important their efficiency in teaching decrease. highlighted reason for stress by the women teachers were Teaching as profession requires a healthy amount of workload, inadequate administrative support, lack of dedication, energy and time spent to it, to reach up to its recognition of their work, low professional status and low level of excellence. Though they thrive toward path of remuneration paid. In case of young and less experienced excellence, they meet with many constraints as inadequate teachers, the high level of stress may be mainly due to the administrative support, time management, physical and high expectation they posses on the profession, low mental health problem, thus ending up with high level or

44 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) more amount of stress. Thus due to more stress, the teacher needs a modification in the light of the present effective teaching gets affected; it leads to frequent study. absenteeism and also health problem such as headache, backache, spinal problems and cardiovascular problem. DELIMITATION OF THE STUDY • The study involves only the women teachers. IMPLICATION OF THE STUDY • The study involves only the women teachers • This study could be used to create awareness working in secondary schools of Bareilly. among the schools and thus would immensely • The variables used were only the types of school, prevent losing effective teachers. age, teaching experience, teaching subjects and • The finding would be helpful to the school to socio-economic status. follow an early intervention programme on the • Types of schools have been categorized only in stress management for their teachers. two categories govt. school and non govt. school • This study could also be used as a guideline to find by researcher in her present study. the causal factors of the stress in related profession. • Researcher has conducted the study only on • The finding could be helpful to the educational teachers, it means only on teaching profession. department thud, framing the teacher training Many other professions are left. Example – curricula. Engineering, Medical administrative services, • The objective of in service training programs Defense services etc.

REFERENCES

1 Best, John W and Kann James, V. ,”Research in Education “,VI Edition, Pearson Prentice Hall, New Delhi

2 Chopra, Reeta and Radhakanta Gartia(2009), “Accountability of Secondary School Teachers in relation to their Occupational Stress”, Edutracks, Vol. 8, No. 7, 41-43

3 Comish and Swindle, 1994Job Stress among Software Professionals in Pakistan: A Factor Analytic StudyJournal of Independent Studies and Research (MSSE)

4 Dennil, I. 2000. Stress as a source of injury among a group of professional ballet dancers. Master of Arts thesis. University of South Africa.

5 De Jesus, S. N. and J. Conboy. 2001. A stress management course to prevent teacher distress. The International Journal of Educational Management15 (3), 131-137.

6 Erkutlu and Chafra, 2006. Assessment of stress and stressors: A studyon management studies. Interdisciplinary Journal of contemporary research in business, January, 4(9).

7 Engelbrecht, P. and T. I. Eloff. 2001. Stress and coping skills of teachers with Down’s Syndrome in inclusive classrooms. South African Journal of Education November, 21 (4): 256–260.

8 Greenberg, J and Baron R. A. 2003 Behavior in Organizations: Understanding and Managing the Human Side of Work. New Delhi: Prentice-Hall Pvt. Ltd.

9 Ivancevish, J. M., Napier, H. A., and Wetherbe, J. C. 1983 ‘Occupational stress, attitudes, and health problems in the information systems professional’, Communications of ACM, Vol. 26, No. 10.

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 45 10 Kyriacou ,C. and Sutcliffe , J.(1977),”Teacher Stress- A Review”, Educational Review, 29, 299-309

11 Kyriacou, C. and Sutcliffe, J. (1978), “Teacher Stress Prevalence , Sources and Symptoms”, British Journal of Education Psychology, 48, 158-187

12 Kyriacou, C. and Sutcliffe , J. (1979), “Teacher Stress and Satisfaction”, Educational Research, 21, 89-96

13 Ngidi, D. P. and P. T. Sibaya. 2002. Black teachers’ personality dimensions and work-related stress factors. South African Journal of PsychologyIDecember 32(3):7-15

14 Rajeswari, K. S. and Anantharaman, R. N. 2003 ‘Development of an instrument to measure stress among software professionals: Factor analytic study’, in Proceedings of ACM-SIGCPR Conference, 2003, Philadelphia, Pennsylvania, pp. 34-43, http://portal.acm.org

15 Singh N 2003 Organizational Behavior: Concepts, Theory, and Practices. New Delhi: Deep and Deep Publications Pvt. Ltd.

16 S.M. Rajeswari and others,(2008), “ Stress and Attitude of Women Teachers”, Discovering Pub.House Pvt. Ltd., New Delhi.

17 Van der Linde, A. H., P. C. Van der Westhuizen and M. P. Wissing. 1999. Burnout in female educators. South African Journal of Education August,19(3) 192-197.

46 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) Research article

Prospects of Tourism in Jharkhand and its Economic Contribution

Abstract Pranjal Kumar Tourism has become an important sector of the Indian Economy and has transformed the country’s Associate Lecturer, Birla Institute of image in global perspective. India is a country of worthy culture, natural beauty and reservoir of Technology, Mesra, Ranchi ancient portrayal which attracts foreign visitors. The history of the country reveals that there have been the globalisation phenomena in the form of trade and commerce due to its various attractions Dr. Ashutosh Mishra bestowed as inherent prospects which nonetheless could be regarded as tourism. All the transaction Assistant Professor, Birla Institute of where done through yellow metal and as a result the country got the fame of golden bird.The yellow Technology, Lalpur Campus, Ranchi metal is now transformed into different foreign currency exchanged by the foreign visitors. Presently the country is embodied with wonders of the world, ancient art and culture, nature dispersed across the nation dwindling within twenty nine States and seven union territories. Jharkhand is amongst one of them contributing to tourism sector and global image of the country. The paper is an attempt to examine the prospects of Jharkhand Tourism and its contribution to the economy of the state.

Key Words: Jharkhand Tourism, Economic Contribution

1. INTRODUCTION Jharkhand has tremendous tourism potential considering its Services are the major contributor to the GDP of the country demography, rich ancient tribal culture and wildlife and tourism highly supplements the service economy of the sanctuary. Few important tourist destinations of the state country. Tourism sector is primarily focused through district-wise are tabulated below: Incredible India campaign. The tourism ministry have 1 Tourism Report 2011-12 by Ministry of Tourism sanctioned 23.71croreto Jharkhand1 considering the 2World bank report on Indian States, 2001 potential of pilgrimage tourism as a mega Destination at Source: Tabulated from the information available in Deoghar and development of Ranchi Mega Circuit for website www.jharkhanddarshan.com which the return on investment is possible with proper utilization and implementation of the plan for the growth of the tourism sector at Jharkhand state.”Carved out of 3 POPULAR TOURISM IN JHARKHAND STATE3 southern Bihar as a new state of India in November 2000, • Eco Tourisim In Jharkhand Jharkhand was plagued by adverse initial conditions, low The land of forest, Jharkhand, is a fine treat for Eco tourists average income, very high incidence of poverty, and little willing to enjoy their vacation and intimate with extreme social development.”2Jharkhand is a rich state in terms of natural surroundings. Rich in its natural beauty, Jharkhand natural resources — forests, minerals and abundant lets travelers relish activities like, spotting diverse flora and land.Thedivision of economic zone from Bihar, fauna in its dense forests, excursion at plenty of its Jharkhand(Footnotes) waterfalls, exploration of many of beautiful hills, game took away a bulk of the parent state’s industrial, educational, viewing in its famous national park and popular temple mineral and forest assets and one third of the population. But sightseeing. 226 sq. km. of Betla forest has been declared as Jharkhand remains, along with residual Bihar, among the Betla National Park and 753 sq. km. of forest has been most food insecure states in the country. The economy of the declared as Palamu Sanctuary. Jharkhand is heavily dependent on the mineral and mining • Mining Tourism In Jharkhand industry, however the large forest spread and natural beauty of the state have somewhat transformed the image of the Jharkhand is a state of Mines and Minerals, Industries. state to be an important tourist destination. Mines are located near the dhanbad city, minerals are in Chhotanagpur. Mainly industries are in Jamshedpur and 2 TOURISM POTENTIAL OF JHARKHAND Bokaro. Jharkhand is rich in Iron and steel, coal, mica etc.

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 47 Table 1 Tourist Attractions in Jharkhand

NAME OF THE ATTRACTIONS DISTRICT Tagore Hill, Hunduru Fall, Dasham Fall, Jonha Fall, Hirni Fall, Jaggannath Temple, Ranchi Hill, Sun Temple, Rock Garden,Ranchi Lake, Birsa Jaivik Udyan, Fun Castle, RANCHI Sidhho - Kanho Park, Nakshatra Van, Machhali Ghar, Amreshwar Dham, Pancha Gagh Fall Etc. Jubilee Park, Dimna Lake, Dimna Wild Life, Sir Dorabji Tata Park, Hudko Lake, Keenan Stadium, Tata Football Acadamy, Jrd Tata Sports Complex, Gliding And Flying JAMSHEDPUR Clubs, Tata Steel Adventure Foundation, Tribal Culture Centre etc

Baba Baidhnath Temple, Tapovan, Noulakha Temple, Nandan Pahar, Satsang Nagar, DEOGHAR Nav Durga Temple, Ram Krishna Ashram, Pagal Baba Temple, Hijla Joria, Mandar Hills, Trikuti Pahar, Dev Sangh etc. BOKARO Bokaro Steel City & Plant, City Park, Garga Dam etc. Charak Pathar, Chati Gobindpur, Golapur, Jhinjhipahari, Meva, Panrra, Chark- DHANBAD Khurd, Topchanchi, Maithon, Panchet, Jamadoba. Etc

Hazaribagh Wildlife S anctury, Rajrappa Temple, Hazaribagh Lake, Canary HAZARIBAGH Hills, Parasnath Temple, Telaiya Dam, Surajkund, Harihar Dham, Urwan Tourist Complex Etc

Jhumri Tilaiya, Tilaiya Dam, Urwan Tourist Complex, Dhwajadhari Hill KODERMA (Pahari), Satagawan Petro falls, Saint Paramhans Baba Tomb, Makamaro Hills, Shaktipeeth Maa Chanchala Devi.

Chhotanagpur plateau is iron ore rich area. Bokaro is well devotees gather here in every Shravan month. Its real name known for its Iron and Steel. Jamshedpur is the Industrial is ‘RICHI BURU’. Perhaps Pahari Mandir is the best place Capital of the state. to have a bird’s eye view of the capital Ranchi. About 80 • Tribal Tourism In Jharkhand k.m. from Ranchi on Ramgarh Chitrapur Road, Rajrappa is situated at the confluence of river Damodar and Bhairavi Nothing has died...nothing changed beyond popularly knows as Bhera. Rajrappa, which was once a recognition.....dancers still sway. and nimble fingers make isolated hillocks with a small temple of Chhinamastika, now memory last a little longer. yes, that is the way you must turned into a famous pilgrim resort for the hindu devotees perceive ethnic communities of Jharkhand, and delight in mainly from Bihar and West Bengal. the way of their life a tapestry embedded with rare jewels of art and culture. Many a devotees of Lord Shiva are come at the Maha Shravani Mela, at Deoghar, the holy abode of Lord Shiva. • Religious Tourism In Jharkhand Devotees, after having a dip at Uttar Vahini Ganga at In Deoghar and Dumka millions of religious people visit Sultanganj, carry the holy gangas water. In the Kanwar, temples, to worship every year. There is great opportunity in barefooted, for a distance of 105 kms up to Deoghar. Their the development of religious tourism. Religion & myth journey culminates by offering this holy water on to the come together at Deoghar, one of the idlest Hindu Shiva linga. pilgrimage centres in India. Deoghar literally means “The Jaganathpur Temple and Hill : About 10 km. from Ranchi is abode of Gods”. There are numerous sights of religious another sight seeing place where the tourist can rejoice and significance in an around the holy town. About 7 km away worship. The old temple of Lord Jaganath, built in 17th from Ranchi Railway Station Pahari Mandir is situated at Century in architectural style of Puri Temple stands like a Ratu Road and is about 300 ft. high. Huge crowd of Shiva

48 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) fort on top of the hill. A portion of the temple has come Angrabari (Amreshwar Dham) is a temple consisting of the down and awaits renovation. Its chariot festival held in the deity of Lord Shiva, Ram and Sita, Hanuman and Ganesh. It light part of “Ashadh Mas” draws a big crowd comprising of is situated near Khunti at a distance of about 40 kms from devotees. HEC township nearby is an added attraction. Sun Ranchi. Temple is built by Sanskriti Vihar headed by Sitaram The highest hill in Jharkhand, towering to an elevation of Maroo. It is situated at a distance of 40 kms on Ranchi Tata 4480 feet. The Parasnath Temple is considered to be one of Road. It is built in the form of a Chariot with 18 wheels the most important and sanctified holy places of the Jains. drawn by 7 white horses. It is surrounded by a pond which is According to Jain tradition, no less than 23 out of 24 used by devotees during Chhath Puja for worshipping of Tirthankaras (including Parsvanatha) are believed to have Sun. attained salvation here.

Table 2 List of Variables

VARIABLES DESCRIPTION

EC_1 Jharkhand has tremendous opportunity for direct and indirect employment EC_2 Jharkhand has huge opportunity for seasoned businessman EC_3 Jharkhand tourism is a big supplement to economy of local resident

EC_4 Jharkhand tourism has opportunity for increased income of local resident

EC_5 Jharkhand tourism has increased the purchasing power of the local residents

EC_6 Jharkhand tourism is an important supplement for banking & financial services adding to GSDP of the state EC_7 Jharkhand T ourism is an important supplement for insurance services adding to GSDP of the state

EC_8 Jharkhand tourism is an important supplement for foreign exchange services adding to GSDP of the state

EC_9 Jharkhand Tourism is an important supplement for Hotel and Hospitality industry adding to GSDP of the State

EC_10 Tourism complement growth of MSME which in turn will contribute in enhancing GSDP of Jharkhand

EC_11 Tourism induced the optimal use of the available resources of the Jharkhand EC_12 TOURISM INCREASES THE PER CAPITA INCOME OF THE JHARKHAND EC_13 Tourism has help a lot in economic well being of the Jharkhand people EC_14 It has increased the quality of life and Happiness index of the Jharkhand people

EC_15 Tourism has helped in urbanization and Land utilization of Jharkhand EC_16 Tourism has helped in improvement of rural economy

EC_17 Tourism also helped in forti fication of HMCT institution in Jharkhand EC_18 Jharkhand Tourism supports local foods through roadside stands which in turn supplement the service economy

EC_19 Jharkhand Tourism provided lot of scope for foreign chain of foods like KFC, Dominos, Pizza huts, McDonald etc which in turn supplement the service economy

EC_20 Tours and travelling agents of the state as a major contributors to Jharkhand tourism industry EC_21 Jharkhand Tourism contributes in Incredible India Campaign as a major contributor to country’s economy

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 49 Jharkhand has been home to all religions that have existed businessman do not create much employment opportunity. and flourished at parity, Deoghar or Baidyanathdham is the Logical somewhat Tourism supports the rural economy but most important Hindu pilgrimage site here. “Ma Chhina the negative correlation reveals the fact the frequency of the Mastika” temple in Rajrappa, is a beautiful site where the visitor in remote areas of Jharkhand districts is very low. River Bhera joins the Damodar, forming a 20 feet high The opportunity of seasoned business man is very low as waterfall. Trikut, Tapovan, Basukinath. Parasnath, implicit with the response that almost 80% disagree. The Jagannath Temple Ranchi, Naulakha Mandirand Kulbanga reason may be low mass movement of tourists in peak Mahadev are some religious places to visit season considering the low popularity of the state as Tourist 4 OBJECTIVE OF THE RESEARCH PAPER destination. The negative correlation between EC_3 and EC_16 interprets that Jharkhand Tourism supplements to In this paper the attempt has been made to primarily urban economy but does not caters to the rural economy. examine the tourismstructure of Jharkhand and its Jharkhand tourism had contributed to income of local contribution to economy of the state. Amongst the above residents, increased purchasing power, developed the mentioned tourism the important and revenue generating banking and insurance sector, increased the foreign tourism are mining and religious tourism. exchange reserves of the state but failed to supplement the 5.0 Research Methodology development of rural economy. Rural economy is much The research is based on both secondary and primary data. depended on the agriculture which is less arable for all The secondary data is reviewed through various reports and variety of crops. The rural habitat is much depended on their study on Jharkhand tourism such as Nelson-Org, CII, survival with very low income level. The penetration of Ministry of Tourism Report, Jharkhand Economic Survey, Tribal tourism, Adventure Tourism, Eco-Tourism needs to IBEF Report, etc. for the primary data a questionnaire is be enhanced for improvement of quality of life of the rural framed and a sample of 100 respondents were considered segment. EC_9 shows almost negative correlation with all through convenient non-probability sampling method. The the variables which expose the poor infrastructure in terms content validity and reliability of the questionnaire is done of growth of hotel and hospitality industry much needed for through SPSS version 21. The reliability of the the prospects of Tourism industry in Jharkhand. Tourism is questionnaire tested through Cronbach’s Alpha is 0.947. a good compliment to MSME but they are not good The analysis of the data is done considering the important supplement to the rural economy. Jharkhand Tourism has construct i.e. Economic Contribution under which 21 induced the optimal utilization of available resources, variables were being identified. The chi-square test was improved the economic well-being of the people, and applied via cross-tab for the test of independence. Two- improved the quality of life and happiness index. However tailed Pearson correlation was done to observe the inspite of fast urbanisation the much needed growth in correlation among the variables contributing to the infrastructure of hospitality industry is still lacking. All the dependent variable (EC_12= Per-Capita Income of the variables are negatively correlated with EC_16 due to the Sate). reason mentioned above. Jharkhand tourism has supported 6.0 Analysis and Interpretation the MNC food chain in prime districts but has proved to be detrimental for the local food cuisine of the state and the The detail analysis is shown in the Annexure-1.The vendors of the street foods. This has affected the rural construct of Economic Contribution EC_12 is dependent on economy of the state especially those people who have quit all other independent variables considering the Pearson farming due to poor cultivation and switched to alternate Chi-Square test where it has been observed from the result employment for their livelihood. The Tourism Industry of that asymptotic significance is less than 0.05 which the state is growing gradually and also adding to the indicates very strong dependency on the construct EC_12. Incredible India campaign which in turn is contributing to The Independent Variables under the construct therefore National Economy. strongly contribute towards the Economy of the State i.e. EC_12 Jharkhand Tourism have concentrated to prime districts where the urbanisation have increased very fast and have It has been observed that there is a very weak correlation supplemented to the state tourism nonetheless the tourism between the variables EC_1 with EC_17, EC_18 and sector of Jharkhand have not much contributed to Rural negative correlation with EC_16. The fortification of the segment of the state. HMCT Institution, Roadside vendors and seasoned

50 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) CONCLUSION expressions addressed for the proper promotion of Jharkhand which was an erstwhile Bihar is still straggling to Jharkhand Tourism. The paper limits to only economic prove its separate identity to be an important tourist contribution and does not highlights the other issues which destination. Considering the responses of tourism facility may be of equal importance for the objective of the study. presently available at the State the highest response in on the Moreover the study attempted to correlate the important Religious Tourism compared to Mining and Tribal tourism factors and its contribution to the economy of the state. The which also have a considerable share in the responses. biggest finding of the study is that Jharkhand Tourism is not Jharkhand Tourism is heavily depended on the Religious supplementing the rural economy. The tribal culture, art and Tourism which can be it’s one an important strength. The craft, music is inherent in the rural segment apart from the paradox lies in the fact that Eco, Wildlife and Heritage agricultural activity. The spotlight needs to be shifted with Tourism have equivalent scope which is not gaining extensive awareness and marketing of the State Tourism mileage due to poor efforts from the policy makers. through the initiation of the government. Law and order Adventure tourism is also available but the response and the may be another concern for the development of the state opinion about it existence is almost negligible. The draft Tourism. policy by the government needs an immediate attention for its rapid implementation to manoeuvre the intentions and

REFERENCES

1 Agarwal, parvej (1991) Developing regional Tourism, Ecomomics Times,9th May.

2 Belsky, J. M. (1999). “Misrepresenting Communites: The politics of Community Based Rural ecotourism in Gales Point Manatee, Belize.” Rural Sociology 64(4): 641-666.

3 Bhatia, A.K (1992) History and development, sterling publishers, New Delhi, p.85

4 Batra, K.L (1990) Problems and prospects of prospects of tourism, print no 11 pub.jaipur pp.2

5 Hall, C. M. (1994). Gender and Economic Interests in Tourism Prostitution: The Nature, Development and Implications of Sex Tourism in South-East Asia. In V. Kinnard and D. Hall (Eds.), Tourism: A Gender Analysis. (pp.142-63).

6 Chichester: John Wiley and Sons. Hall, C. M. (1998). Historical Antecedents of Sustainable Tourism Develop ment: An Introduction. In C. M. Hall and A. Lew (Eds.), Sustainable Tourism: A geographical perspective. (pp.1- 12). Harlow: Longman.

WEBSITES

1. www.incredibleindia.org

2. www.jharkhandtourism.in

3. www.jharkhanddarshan.com

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 51 ANNEXURE-1 Calculation EC_1

Frequency Percent Valid Percent Cumulative Percent

Completely Agree 60 58.8 60.0 60.0

Neither Agree Nor 19 18.6 19.0 79.0 Disagree Valid Disagree 7 6.9 7.0 86.0

Completly Disagree 14 13.7 14.0 100.0

Total 100 98.0 100.0

Missing System 2 2.0

Total 102 100.0

Chi-Square Tests Cross Tab (EC_1^EC_12)

Value df Asymp. Sig. (2-sided)

Pearson - Chi 100.0 3 .000 Square 00a 102.7 3 .000 Likelihood Ratio 91 Linear-by - Linear 72.23 1 .000 Association 3 N of Valid Cases 100 a. 3 cells (37.5%) have expected count less than 5. The minimum expected count is 1.47.

EC_2

Frequency Percent Valid Percent Cumulative Percent

Completely Agree 20 19.6 20.0 20.0 Valid Completly Disagree 80 78.4 80.0 100.0 Total 100 98.0 100.0 Missing System 2 2.0 Total 102 100.0

52 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) Chi-Square TestsCross Tab (EC_2^EC_12)

Value df Asymp. Sig. Exact Sig. Exact Sig. (2-sided) (2-sided) (1-sided)

Pearson Chi-Square 6.646a 1 .010 Continuity Correctionb 5.157 1 .023 Likelihood Ratio 10.686 1 .001 Fisher's Exact Test .006 .005 Linear-by-Linear 6.579 1 .010 Association N of Valid Cases 100

a. 1 cells (25.0%) have expected count less than 5. The minimum expected count is 4.20. b. Computed only for a 2x2 table

EC_3

Frequency Percent Valid Percent Cumulative Percent

Completely Agree 79 77.5 9.0 79.0 Valid Agree 21 20.6 21.0 100.0 Total 100 98.0 100.0 Missing System 2 2.0 Total 102 100.0

FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 53

Chi-Square TestsCross Tab (EC_3^EC_12)

Value df Asymp. Sig. Exact Sig. Exact Sig. (2-sided) (2-sided) (1-sided)

Pearson Chi-Square 100.000a 1 .000 Continuity Correctionb 94.063 1 .000 Likelihood Ratio 102.791 1 .000 Fisher's Exact Test .000 .000 Linear-by-Linear Association 99.000 1 .000 N of Valid Cases 100

a. 1 cells (25.0%) have expected count less than 5. The minimum expected count is 4.41. b. Computed only for a 2x2 table

54 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 55 56 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 57 58 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 59 60 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 61 62 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 63 64 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 65 66 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 67 68 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 69 70 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 71 72 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 ) 73 74 FMS, SRMS College of Engg. & Tech. ( Bizcraft September 14 - February 15 Vol. 8, No.2 )