The fast-growing firms in the start-up stage need huge cash flow to enable them to
scale up their operations. The entrepreneurial networks play an important role in
linking venture capitalists to the entrepreneurs. There has been growing research in the past two decades on the strength, structure and role of entrepreneurial networks in providing access to vital resources and information to the industry players, thus enabling them to engage in economic activities. Entrepreneurs who are skillful in using networks to their advantage enjoy multiple benefits in terms of easy and timely access to financial capital.
The first paper, “Efficacy of Networks for Entrepreneurs Raising Finance: A Qualitative Analysis”, by Bin Jia and Robert A Phillips, examines the effectiveness of networks for entrepreneurs raising finance in a specific region of the UK. The authors use qualitative research methods to analyze the three core components of entrepreneurial networks—contents, governance and structure. The authors further propose ways for optimal usage of network by entrepreneurs to raise finance by drawing parallels between networks and markets.
With decreasing landholdings and the main agricultural activity getting less remunerative, the allied activities of agriculture like beekeeping ventures are a means to augment farm income, and hence, many farmers are showing interest in such options of farm diversification. The second paper, “Perseverance Pays: The Effect of Venture Age on Indian Beekeeping Ventures”, by Khushdeep Dharni and Deepak Goel, explores the factors that influence the growth of beekeeping ventures in the rural areas of Punjab, India. The authors analyze whether venture age has any effect on the growth and performance of beekeeping ventures. The results of this study have wide implications for policy makers, financial institutions and entrepreneurs who are involved in this activity.
The third paper, “Financial Problems of Microenterprises in Mizoram: Issues and Dimensions”, by Lalhunthara and NVR Jyoti Kumar, analyzes the different dimensions of financial problems faced by microenterprises in Aizawl District of Mizoram. Mizoram, a small state in North-East India does not have any large and medium-scale industries. Various government schemes have been initiated in the state with the intention to provide the necessary assistance to the thriving small and microenterprises. But entrepreneurs in Mizoram continue to face a lot of challenges in the maintenance and growth of these ventures. The results of the study point towards issues like higher rate of interest, lack of ease of access to financial capital, and inadequate assistance by government agencies.
Automated Teller Machines (ATMs): The Changing Face of Banking in India
Bank Management
Information and communication technology has changed the way in which banks provide services to its customers. These days the customers are able to perform their routine banking transactions without even entering the bank premises. ATM is one such development in recent years, which provides remote banking services all over the world, including India. This paper analyzes the development of this self-service banking in India based on the secondary data.
The Information and Communication Technology (ICT) is playing a very important role in the progress and advancement in almost all walks of life. The deregulated environment has provided an opportunity to restructure the means and methods of delivery of services in many areas, including the banking sector. The ICT has been a focused issue in the past two decades in Indian banking. In fact, ICTs are enabling the banks to change the way in which they are functioning. Improved customer service has become very important for the very survival and growth of banking sector in the reforms era. The technological advancements, deregulations, and intense competition due to the entry of private sector and foreign banks have altered the face of banking from one of mere intermediation to one of provider of quick, efficient and customer-friendly services. With the introduction and adoption of ICT in the banking sector, the customers are fast moving away from the traditional branch banking system to the convenient and comfort of virtual banking. The most important virtual banking services are phone banking, mobile banking, Internet banking and ATM banking. These electronic channels have enhanced the delivery of banking services accurately and efficiently to the customers. The ATMs are an important part of a bank’s alternative channel to reach the customers, to showcase products and services and to create brand awareness. This is reflected in the increase in the number of ATMs all over the world. ATM is one of the most widely used remote banking services all over the world, including India. This paper analyzes the growth of ATMs of different bank groups in India.
International Scenario
If ATMs are largely available over geographically dispersed areas, the benefit from using an ATM will increase as customers will be able to access their bank accounts from any geographic location. This would imply that the value of an ATM network increases with the number of available ATM locations, and the value of a bank network to a customer will be determined in part by the final network size of the banking system. The statistical information on the growth of branches and ATM network in select countries.
Indian Scenario
The financial services industry in India has witnessed a phenomenal growth, diversification and specialization since the initiation of financial sector reforms in 1991. Greater customer orientation is the only way to retain customer loyalty and withstand competition in the liberalized world. In a market-driven strategy of development, customer preference is of paramount importance in any economy. Gone are the days when customers used to come to the doorsteps of banks. Now the banks are required to chase the customers; only those banks which are customercentric and extremely focused on the needs of their clients can succeed in their business today.
