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The IUP Journal of Law Review
Focus

This issue contains six papers. The first paper, “Prevention of Pollution Through
Public Restraint: A Critical Appraisal of Odd-Even Formula in the National Capital Delhi”, by F A Rafiqi and Nusrat Pandith, provides an introduction to protecting human and environmental health through an understanding of the fate of pollutants in the environment, toxicity, and risk assessment. The paper makes an effort to conduct a socio-legal audit of the State action and its impact on prevention and control of air pollution in the National Capital Territory (NCT). The paper also highlights the keenness of judiciary to exercise its review power in constitutional interpretations regarding protection and preservation of the natural environment in order to attain sustainable development.

The second paper, “Industrial Disputes: Adjudication in India”, authored by
V G Ranganath, endeavors to study and analyze the important industrial disputes that have frequently come before the higher judiciary and the principles that have emerged therefrom. The paper attempts to highlight the view of the Apex Court concerning labor disputes as belonging to a special category needing resolution as per the canons of social justice and welfare state. The paper also emphasizes that a satisfactory working of the adjudicatory authorities and an awareness of mutual obligations of labor and management towards each other and the society are of paramount importance for achieving industrial peace and social justice.

In the third paper, “Juvenile Delinquency in India: Prevention and Control”, Mudasir Bhat attempts to evaluate the various approaches to juvenile delinquency from both theoretical and practical basis. The author attempts to analyze the neighborhood and individual-level origins of juvenile delinquency. The author offers a rigorous and logical justification of his recommendations for the future, linking what has been done in the past with what should be done in the future. The paper mainly focuses on the prevention and control of juvenile delinquency by examining the laws at national and international level.

Irfan Rasool has authored the fourth paper, “Consumerism: An Insight”. The paper looks into the history of the evolution of the concept of consumerism and the importance of consumer education. The paper is an endeavor to point out that the consumer must be aware of his rights, raise his voice against exploitation and seek redressal for his grievances. In this context, the paper examines how the growing interdependence of the world economy and the international character of many business practices have contributed to the development of universal emphasis on consumer rights protection and promotion.

The fifth paper, “Cyber Space for Universal Peace: The Contribution of Online Dispute Resolution”, authored by Geetanjali Ramesh Chandra, focuses on the tremendous growth of Online Dispute Resolution (ODR) that utilizes technology and artificial intelligence to settle disputes. The paper discusses the enormous possibilities and the employment opportunities for practitioners in the field. The author intends to make us understand that with increased computer use worldwide and the continuing crisis in access to justice, the need for the option of online dispute resolution is obvious and will continue to grow.

The sixth and last paper, “Angel Funds: The New Type of Alternative Investment Fund in India”, by Debmita Mondal and Apoorvi Shrivastava, aims to study the concept of angel investors, their role in startup fund raising and the merits and demerits of angel investment in a startup. The paper gives an overall view of angel funds and the Indian legal framework governing the same. The paper views SEBI’s amendment of regulation, which recognized the concept of angel fund, as a very wise step, while its implementation and application of the provisions are yet to be observed.

-- V Hemalatha Devi
Consulting Editor

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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.

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