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Journals >>
Finance
The IUP Journal of Bank Management

August' 05
Focus Areas
  • Risk Management
  • Forex Markets
  • Retail Banking
  • HRD & Leadership
  • Organization Behavior
  • Banking Supervision
  • Convergence of Financial Services
  • E-Banking
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Measuring Financial Distress of IDBI Using Altman Z-Score Model
50
Money Market Integration in India: A Time Series Study
50
Determinants of Bank Finance to Corporates: Evidence from Indian Companies
50
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Measuring Financial Distress of IDBI Using Altman Z-Score Model


-- Krishna Chaitanya V

In a recent move, the Reserve Bank of India has approved the merger of IDBI (Industrial Development Bank of India) and IDBI Bank, which will happen in the month of October 2005. It is said that the merged entity would be the fifth largest bank in India after SBI (State Bank of India), ICICI (Industrial Credit and Investment Corporation of India), PNB (Punjab National Bank) and Canara Bank, in terms of total assets. The swap ratio is fixed at 1:1.42 and the government's holding is all set to come down to 51.4% from the present 59%. Sources also revealed that the new entity would have two strategic units: IDBI banking and IDBI development finance. But many experts do believe that this move of merging a weak organization with a stronger one is not a good strategy. In the light of the above, the present study attempts to examine the financial distress of IDBI using the Altman Z-score model. Based on the study results, the paper also focuses on suggesting the appropriate strategy.

© 2005 IUP. All Rights Reserved.

Article Price : Rs.50

Money Market Integration in India: A Time Series Study


-- Nikhil Rastogi

Indian financial markets have come a long way from the highly controlled pre-liberalization era. Today, their focus is on achieving efficiency, which is the hallmark of any developed financial market. This paper tests the efficiency and extent of integration between financial markets empirically at the short end of the market. The rates, mainly taken for the purpose of this study, comprise the call market rate, CD (Certificate of Deposit) rate, CP (Commercial Paper) rate, 91-day T-bill (Treasury bill) rate and 3-month forward premium. The results, though promising, are mixed. Therefore although markets have achieved integration in some pockets, they have still to achieve full integration. This has veritable implications on the monetary policy of the Reserve Bank of India (RBI) since changes in one market (gilt market) can be used to regulate the other market (forex market). This would give an additional tool to RBI, rather than resorting to direct intervention, which is the sign of a weak financial system.

© 2005 IUP. All Rights Reserved.

Article Price : Rs.50

Determinants of Bank Finance to Corporates: Evidence from Indian Companies


-- Jitendra Mahakud

This paper endeavors to find out the determinants of bank finance to corporates in India. A panel data analysis, more specifically, the Generalized Method of Moments (GMM) technique, has been used to find out the factors which affect corporate borrowings from banks in India. It has been found that variables like size of the company, debt to equity ratio are positively, and variables like return on assets, Tobin's Q ratio and Altman's Z-score are negatively related to the bank finance in the case of Indian corporate sector.

© 2005 IUP. All Rights Reserved.

Article Price : Rs.50

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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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