ijrcm-1-IJRCM-1_vol-5_2014_issue-08-art-09

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V OLUME N O . 5 (2014), I SSUE N O . 08 (A UGUST ) ISSN 0976-2183

A Monthly Double-Blind Peer Reviewed (Refereed/Juried) Open Access ntern!tion!l e-Journ!l - ncluded in the ntern!tion!l "eri!l DirectoriesIndexed & Listed at:

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INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENTA Monthly Double-Blind Peer Reviewed (Refereed/Juried) Open Access ntern!tion!l e-Journ!l - ncluded in the ntern!tion!l "eri!l Directories


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ONTENTSSr.No. TITLE & NAME OF THE AUTHOR (S) PageNo.1 HARD HIT INVESTORS: GOVERNANCE LAPSES OF NSEL SCAM

ABHAY KUMAR & DR. SHILPA RASTOGI

1

2 TESTING EFFICIENT MARKET HYPOTHESIS IN THE FOREIGN EXCHANGE MARKETDR. V. RAJESH KUMAR & GOWRISHA JOSHI

4

3 MARKET TIMING OF CORPORATE CAPITAL ISSUES: THE INDIAN EXPERIENCEDR. L. GANESAMOORTHY & DR. H. SHANKAR

17

4 BLOCKHOLDER O NERSHIP STRUCTURE OF SRI LANKAN LISTED COMPANIESKOPERUNTHEVY KALAINATHAN & VIJAYARANI KALIAPERUMAL

24

! UNREVEALED "LADAPURAM#SANJEEB PAL

31

$ IMPACT OF STRESS AND JOB SATISFACTION TO ARDS ORK LIFE BALANCE OF ITPROFESSIONALS AND PRIVATE SECTOR EXECUTIVES: AN EMPIRICAL STUDYDR. BEULAH VIJI CHRISTIANA.M & ER. JOSEPH SASI RAJAN.M

3$

7 SELF HELP GROUP SCHEME: A CATALYTIC AGENT TO PROMOTE SOCIALENTREPRENEURSHIPP.NAGESWARI

4%

ETHICAL INVESTING ON THE STOCK MARKET: SHARI#AH'COMPLIANT INDEXES ( ADYNAMIC INVESTMENT MECHANISM

DR. SIRAJUDDIN CHOUGLE

42

) POVERTY ALLEVIATION THROUGH MICRO FINANCE J. KARTHIKEYANI & DR. S. BENJAMIN CHRISTOPHER

4)

1% IMPACT OF GLOBALI*ATION ON ORK LIFE BALANCE IN IFFCO+ AONLA+ BAREILLYDR. D. N. TIWARI & SONAL TYAGI

!!

11 A STUDY ON MARKET POTENTIAL OF RURAL BANKING AMONG CUSTOMERS INPOLLACHIPADMAAVATHY.PA & S.BRINDHA

!)

12 CORPORATE PHILANTHROPY V,- CORPORATE SOCIAL RESPONSIBILITY: AN INDIANINSIGHTRITIKA GUPTA & DR. PANKAJ JAIN

$!

13 A STUDY TO DETERMINE IF STATISTICAL DIFFERENCE EXISTS IN SATISFIEDMOTORCYCLE PILOTS IN GOACEDRIC THOMAS SILVEIRA

7%

14 DIRECT TAXES CODE 2%13: AN OVERVIE ALOKE GUPTA

73

1! IMPLEMENTATION OF E'CRM PRACTICE IN A NATIONALI*ED BANK

SWAYAMBHU KALYAN MISHRA

7$

RE.UEST FOR FEEDBACK & DISCLAIMER 2


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HIEF PATRON PROF- K- K- AGGAR AL

,h!ir3!n% M!l!viy! '!tion!l nstitute of 6echnolo&y% J!ipur(An institut !" N#ti!n#$ I% !'t#n & "u$$) "un* * +) Minist') !" Hu%#n R s!u' D , $! % nt- G!, 'n% nt !" In*i#

,h!ncellor% 7 R M!n&!l!3 8niversity% #ur&!on,h!ncellor% 9in&!y!:s 8niversity% $!rid!b!d

$ounder ;ice-,h!ncellor (


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PROF- ANIL K- SAINI,h!irperson (,R,)% #uru#obind"in&h P 8niversity% Delhi

DR- SAMBHAVNA$!culty% 6 M % Delhi

DR- MOHENDER KUMAR GUPTAAssoci!te Professor% P J 9 ' #overn3ent,olle&e% $!rid!b!d

DR- SHIVAKUMAR DEENEAsst Professor% Dept of ,o33erce% "chool of Business "tudies% ,entr!l 8niversity of 7!rn!t! !% #ulb!r&!

ASSO IATE EDITORS PROF- NA AB ALI KHAN

Dep!rt3ent of ,o33erce% Ali&!rh Musli3 8niversity% Ali&!rh% 8 PPROF- ABHAY BANSAL

.e!d% Dep!rt3ent of nfor3!tion 6echnolo&y% A3ity "chool of ?n&ineerin& 6echnolo&y% A3ity8niversity% 'oid!

PROF- V- SELVAM""9% ; 6 8niversity% ;ellorePROF- N- SUNDARAM

; 68niversity% ;elloreDR- PARDEEP AHLA AT

Associ!te Professor% nstitute of M!n!&e3ent "tudies Rese!rch% M!h!rshiD!y!n!nd8niversity% Roht!DR- S- TABASSUM SULTANA

Associ!te Professor% Dep!rt3ent of Business M!n!&e3ent% M!trusri nstitute of P # "tudies% .yder!b!d

TE HNI AL ADVISORAMITA

$!culty% #overn3ent M " % Moh!li

FINAN IAL ADVISORSDICKIN GOYAL

Advoc!te 6!@ Adviser% P!nch ul!NEENA

nvest3ent ,onsult!nt% ,h!3b!&h!t% "ol!n% .i3!ch!l Pr!desh

LEGAL ADVISORSJITENDER S- CHAHAL

Advoc!te% Pun5!b .!ry!n! .i&h ,ourt% ,h!ndi&!rh 8 6CHANDER BHUSHAN SHARMA

Advoc!te ,onsult!nt% District ,ourts% 2!3un!n!&!r !t J!&!dhri

SUPERINTENDENTSURENDER KUMAR POONIA


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ALL FOR MANUS RIPTSCe invite unpublished novel% ori&in!l% e3piric!l !nd hi&h u!lity rese!rch wor pert!inin& to recent develop3ents pr!ctices in the !re!s of,o3puter "cience Applic!tionsE ,o33erceE BusinessE $in!nceE M!r etin&E .u3!n Resource M!n!&e3entE #ener!l M!n!&e3entE B!n in&E?cono3icsE 6ouris3 Ad3inistr!tion M!n!&e3entE ?duc!tionE 9!wE 9ibr!ry nfor3!tion "cienceE Defence "tr!te&ic "tudiesE ?lectronic"cienceE ,orpor!te #overn!nceE ndustri!l Rel!tionsE !nd e3er&in& p!r!di&3s in !llied sub5ects li e Accountin&E Accountin& nfor3!tion"yste3sE Accountin& 6heory Pr!cticeE Auditin&E Beh!vior!l Accountin&E Beh!vior!l ?cono3icsE ,orpor!te $in!nceE ,ost Accountin&E?cono3etricsE ?cono3ic Develop3entE ?cono3ic .istoryE $in!nci!l nstitutions M!r etsE $in!nci!l "ervicesE $isc!l PolicyE #overn3ent 'onProfit Accountin &E ndustri!l Or&!ni !tionE ntern!tion!l ?cono3ics 6r!deE ntern!tion!l $in!nceE M!cro ?cono3icsE Micro ?cono3icsE Rur!l?cono3icsE ,o-oper!tionE De3o&r!phy4 Develop3ent Pl!nnin&E Develop3ent "tudiesE Applied ?cono3icsE Develop3ent ?cono3icsE Business?cono3icsE Monet!ry PolicyE Public Policy ?cono3icsE Re!l ?st!teE Re&ion!l ?cono3icsE Politic!l "cienceE ,ontinuin& ?duc!tionE 9!bourCelf!reE PhilosophyE Psycholo&yE "ociolo&yE 6!@ Accountin&E Advertisin& Pro3otion M!n!&e3entE M!n!&e3ent nfor3!tion "yste3s (M ")EBusiness 9!wE Public Responsibility ?thicsE ,o33unic!tionE Direct M!r etin&E ?-,o33erceE #lob!l BusinessE .e!lth ,!re Ad3inistr!tionE9!bour Rel!tions .u3!n Resource M!n!&e3entE M!r etin& Rese!rchE M!r etin& 6heory Applic!tionsE 'on-Profit Or&!ni !tionsE OfficeAd3inistr!tion/M!n!&e3entE Oper!tions Rese!rch/"t!tisticsE Or&!ni !tion!l Beh!vior 6heoryE Or&!ni !tion!l Develop3entEProduction/Oper!tionsE ntern!tion!l Rel!tionsE .u3!n Ri&hts DutiesE Public Ad3inistr!tionE Popul!tion "tudiesE Purch!sin&/M!teri!lsM!n!&e3entE Ret!ilin&E "!les/"ellin&E "ervicesE "3!ll Business ?ntrepreneurshipE "tr!te&ic M!n!&e3ent PolicyE 6echnolo&y/ nnov!tionE6ouris3 .ospit!lityE 6r!nsport!tion DistributionE Al&orith3sE Artifici!l ntelli&enceE ,o3pilers 6r!nsl!tionE ,o3puter Aided Desi&n (,AD)E,o3puter Aided M!nuf!cturin&E ,o3puter #r!phicsE ,o3puter Or&!ni !tion ArchitectureE D!t!b!se "tructures "yste3sE Discrete"tructuresE nternetE M!n!&e3ent nfor3!tion "yste3sE Modelin& "i3ul!tionE 'eur!l "yste3s/'eur!l 'etwor sE 'u3eric!lAn!lysis/"cientific ,o3putin&E Ob5ect Oriented Pro&r!33in&E Oper!tin& "yste3sE Pro&r!33in& 9!n&u!&esE RoboticsE "y3bolic $or3!l 9o&icECeb Desi&n !nd e3er&in& p!r!di&3s in !llied sub5ects

Anybody c!n sub3it the ,/0 / of unpublished novelE ori&in!lE e3piric!l !nd hi&h u!lity 56,6 5 8 9/5 / ; anytime in M.S. Word format !fter prep!rin& the s!3e !s per our GUIDELINES FOR SUBMISSIONE !t our e3!il !ddress i e infoi5rc3F&3!il co3 or online by clic in&the lin /,,>/< !s &iven on our website ( FOR ONLINE SUBMISSION, CLICK HERE )

GUIDELINES FOR SUBM ISSION OF MA NUS RIPT COVERING LETTER FOR SUBMISSION:

DATED: THE EDITOR

JR,M

"ub5ect4 SUBMISSION OF MANUSCRIPT IN THE AREA OF - 6- - F>< < 6 M 5 6 >< HRM G6< M 86; > , / 865+ ?6 ,6 , 6 >0

DEAR SIR MADAM

Ple!se find 3y sub3ission of 3!nuscript entitled GHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHHH: for possible public!tion in your 5ourn!ls hereby !ffir3 th!t the contents of this 3!nuscript !re ori&in!l $urther3ore% it h!s neither been published elsewhere in !ny l!n&u!&e fully or p!rtly% nor is it

under review for public!tion elsewhere

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NAME OF CORRESPONDING AUTHOR4 Desi&n!tion4Affili!tion with full !ddress% cont!ct nu3bers Pin ,ode4 Residenti!l !ddress with Pin ,ode4Mobile 'u3ber (s)49!ndline 'u3ber (s)4?-3!il Address4Altern!te ?-3!il Address4

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the coverin& letter% inside the 3!nuscriptb) 6he sender is re uired to 3entionthe followin& in the SUBJECT COLUMN of the 3!il4

N69 M 0/5 R6 >69 >< 86 56 /0 ($in!nce/M!r etin&/.RM/#ener!l M!n!&e3ent/?cono3ics/Psycholo&y/9!w/,o3puter/ 6/?n&ineerin&/M!the3!tics/other% ple!se specify)

c) 6here is no need to &ive !ny te@t in the body of 3!il% e@cept the c!ses where the !uthor wishes to &ive !ny specific 3ess!&e w r t to the 3!nuscriptd) 6he tot!l si e of the file cont!inin& the 3!nuscript is re uired to be below !%% KBe) Abstr!ct !lone will not be considered for review% !nd the !uthor is re uired to sub3it the co3plete 3!nuscript in the first inst!ncef) 6he 5ourn!l &ives !c nowled&e3ent w r t the receipt of every e3!il !nd in c!se of non-receipt of !c nowled&3ent fro3 the 5ourn!l% w r t the sub3ission

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> MANUSCRIPT TITLE: 6he title of the p!per should be in ! > point ,!libri $ont t should be bold typed% centered !nd fully c!pit!lised

0 AUTHOR NAME S & AFFILIATIONS: 6he !uthor (s) 0=?? < ;6 % 6,> < >/?> >/< (s)% 56,, %;/@>?6 ? < ?>?56,, should be in it!lic -point ,!libri $ont t 3ust be centered underne!th the title

+ ABSTRACT: Abstr!ct should be in fully it!lici ed te@t% not e@ceedin& >1* words 6he !bstr!ct 3ust be infor3!tive !nd e@pl!in the b!c &round% !i3s% 3ethods%results conclusion in ! sin&le p!r! Abbrevi!tions 3ust be 3entioned in full


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1 KEY ORDS: Abstr!ct 3ust be followed by ! list of eywords% sub5ect to the 3!@i3u3 of five 6hese should be !rr!n&ed in !lph!betic order sep!r!ted byco33!s !nd full stops !t the end

I MANUSCRIPT: M!nuscript 3ust be in BRITISH EN LISH prep!red on ! st!nd!rd A+ si e !ORTR"IT SETTIN !"!ER t 3ust be prep!red on ! sin&le sp!ce !ndsin&le colu3n with 3!r&in set for top% botto3% left !nd ri&ht t should be typed in = point ,!libri $ont with p!&e nu3bers !t the botto3 !nd centre of everyp!&e t should be free fro3 &r!33!tic!l% spellin& !nd punctu!tion errors !nd 3ust be thorou&hly edited

K HEADINGS: All the he!din&s should be in ! * point ,!libri $ont 6hese 3ust be bold-f!ced% !li&ned left !nd fully c!pit!lised 9e!ve ! bl!n line before e!chhe!din&

= SUB'HEADINGS: All the sub-he!din&s should be in ! = point ,!libri $ont 6hese 3ust be bold-f!ced% !li&ned left !nd fully c!pit!lised

< MAIN TEXT: 6he 3!in te@t should follow the followin& se uence4

INTRODUCTION

REVIE OF LITERATURE

NEED IMPORTANCE OF THE STUDY

STATEMENT OF THE PROBLEM

OBJECTIVES

HYPOTHESES

RESEARCH METHODOLOGY

RESULTS & DISCUSSION

FINDINGS

RECOMMENDATIONS SUGGESTIONS

CONCLUSIONS

SCOPE FOR FURTHER RESEARCH

ACKNO LEDGMENTS

REFERENCES

APPENDIX ANNEXURE

t should be in ! = point ,!libri $ont% sin&le sp!ced !nd 5ustified 6he 3!nuscript should prefer!bly not e@ceed #$$$ WORDS

* FIGURES &TABLES: 6hese should be si3ple% cryst!l cle!r% centered% sep!r!tely nu3bered self e@pl!ined% !nd > ?6, ;=, @6 @/ 6 86 @?6 0> =56S/=5 6, /0 ,8/=? @6 ;6< >/ =56 t should be ensured th!t the t!bles/fi&ures !re referred to fro3 the 3!in te@t

E.UATIONS: 6hese should be consecutively nu3bered in p!rentheses% hori ont!lly centered with e u!tion nu3ber pl!ced !t the ri&ht

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All wor s cited in the te@t (includin& sources for t!bles !nd fi&ures) should be listed !lph!betic!lly 8se ( 6 -) for one editor% !nd ( 6 -, for 3ultiple editors Chen listin& two or 3ore wor s by one !uthor% use --- (>*@@)% such !s !fter 7ohl ( =K-0*0JOURNAL AND OTHER ARTICLES "che3enner% R C % .uber% J , !nd ,oo % R 9 ( * )4 L,usto3er ;!lue4 A ,o3p!r!tive "tudy of Rur!l !nd 8rb!n ,usto3ers%L 6hesis% 7uru shetr! 8niversity% 7uru shetr!ONLINE RESOURCES Alw!ys indic!te the d!te th!t the source w!s !ccessed% !s online resources !re fre uently upd!ted or re3oved

EBSITES #!r&% Bh!vet (>* )4 6ow!rds ! 'ew '!tur!l #!s Policy% Politic!l Cee ly% ;iewed on J!nu!ry * % >* > http4//epw in/user/view!bstr!ct 5sp


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+**>) s!id th!t% "elf-.elp #roups (".#s) !re

or&!ni ed !s vi!ble !ltern!tive to !chieve the ob5ectives of rur!l develop3ent !nd to &et co33unity p!rticip!tion in rur!l develop3ent pro&r!33es n c!se ofself 3ove3ent% thrift !nd credit !re the entry points of !ctivity Micro fin!nce or provision of fin!nci!l services to low inco3e households h!s co3e to be!ccepted in policy i3ple3ent!tion in developin& countries !s the 3ost effic!cious intervention to !llevi!te poverty Micro fin!nce relies on rot!tion!linvest3ent done to 3otiv!te poor to e3power the3selves !nd to s!ve for the future !nd use those resources durin& the ti3e of needDin er R!o (>**0-*+) defines% ".# !s ! &roup of !bout >* people fro3 ! ho3o&eneous cl!ss% who co3e to&ether for !ddressin& their co33on proble3s 6hey!re encour!&ed to 3! e volunt!ry thrift on ! re&ul!r b!sis 6hey use this pooled resource to 3! e s3!ll interest be!rin& lo!ns to their 3e3bers 6he processhelps the3 i3bibe the essenti!ls of fin!nci!l inter3edi!tion includin& prioriti !tion of needs% settin& ter3s !nd conditions% !nd !ccount- eepin& 6his &r!du!llybuilds fin!nci!l discipline !3on& the3 6hey !lso le!rn to h!ndle resources of ! si e th!t is 3uch beyond individu!l c!p!cities of !ny of the3 6he ".# 3e3bersbe&in to !ppreci!te th!t resources !re li3ited% !nd h!ve ! cost Once the &roups show this 3!ture fin!nci!l beh!viour% b!n s !re encour!&ed to 3! e lo!ns tothe ".# in cert!in 3ultiples of the !ccu3ul!ted s!vin&s of the ".# 6he b!n lo!ns !re &iven without !ny coll!ter!l !nd !t 3!r et interest r!tes 6he &roupscontinue to decide the ter3s of lo!ns to their own 3e3bers "ince the &roup:s own !ccu3ul!ted s!vin&s !re p!rt !nd p!rcel of the !&&re&!te lo!ns 3!de by the&roups to their 3e3bers% peer pressure ensures ti3ely rep!y3ents

LITERATURE REVIE"ever!l rese!rch studies h!ve been conducted on Micro ,redit in ndi! !nd !bro!d 6he results of so3e of the studies conducted in ndi! !nd !bro!d !represented in the followin& p!r!&r!phsJ!y! Arun!ch!l!3 ( ** ) h!ve !n!lysed the i3p!ct of ".#s in providin& credit to rur!l wo3en to help the3 uplift their econo3ic st!tus6he results obt!ined fro3 their study show th!t the success of &roup lendin& !re !ttribut!ble not only to peer 3onitorin& to other f!ctors such !s lendin& for

consu3ption purposes% s!vin&% rot!tion of s!vin& by &roup 3e3bers !nd not the le!st bec!use of !n !c tive '#O"!3!r 7 D!tt! !nd R!3!n (>** ) h!s described th!t the ".#s were !ble to provide v!rious credit services such !s business lo!n% consu3ption lo!n% lo!n forsettle3ent of old debts !nd lo!n for other contin&ency purposes to their 3e3bers 6he findin&s showed th!t !n incre!se in net inco3e per 3e3ber reduced thelevel of ris f!cin& ".#s Micro ,redit !nd ?3power3ent h!ve been e@!3ined by "udh! R!ni% 83! Devi% !nd "urendr! (>**>) who !scert!ined th!t the

P


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p!rticip!tion of wo3en in "elf .elp #roups enriched the e3power3ent of wo3en in these four !spects Chen their p!rticip!tion is hi&h in nu3ber of 3eetin&s%inter!ction with different offici!ls% they !re e3powered to so3e e@tent 6heir decision 3! in& power !lso incre!sed with the period of p!rticip!tionM!ni3e !l!i !nd R!5esw!ri (>**>) observed th!t these wo3en h!ve been dependin& only on !&riculture !nd now h!ve beco3e independent Ap!rt fro3 thei3prove3ent on the person!l &round% the co33unity !s ! whole h!s &!ined throu&h the or&!ni !tion of the ".#s Punith!v!ty P!ndi!n !nd ?sw!r!n (>**>)h!ve concluded th!t the Micro ,redit h!s provided the rur!l poor !ccess to fin!nce without the burden of coll!ter!l throu&h "elf .elp #roups which h!vee3powered the wo3en fol econo3ic!lly !nd soci!lly'eet! 6!p!nis (>****0 A &ener!l 3odel is esti3!ted bye3ployin& !ppropri!te techni ues to tre!t the ordin!l v!ri!bles in order to esti3!te the i3p!ct of the "elf .elp #roup (".#) on wo3en:s e3power3ent for>*** !nd >**0 6he results stron&ly de3onstr!te th!t on !ver!&e% there is ! si&nific!nt incre!se in the e3power3ent of wo3en in the ".# 3e3bers &roup7essler% Ron!ld ,% Mic elson% 7ristin D !nd "h!ny!n& h!o (>* ) e@plored th!t ! new interest in self-help &roups h!s developed !3on& clinici!ns !nd soci!lpolicy !n!lysts !s fin!nci!l constr!ints incre!sin&ly h!ve restricted the r!n&e of services !v!il!ble to clients of the hu3!n services syste3 6he s!3ple of 0%*0>respondents w!s recruited fro3 ! r!ndo3 di&it di!l s!3plin& fr!3e of the coter3inous 8nited "t!tes ?li&ibility w!s restricted to people in the !&e r!n&e >1 toK+ it w!s cle!r fro3 the f!ct th!t 3!ny people in profession!l tre!t3ent !lso p!rticip!te in self-help &roups th!t this &ener!lly does not occur By the s!3eto en% the f!ct th!t 3!ny self-help &roup p!rticip!nts !lso see out profession!l tre!t3ent su&&ests th!t the 3utu!l support 3odel of self-help &roups l!c sso3ethin& th!t is provided in the helper-recipient 3odel of profession!l tre!t3ent

SIGNIFICANCE OF THE STUDY6he present study h!s been conducted to now the i3p!ct of the p!rticip!tion of the wo3en in the "elf-.elp #roups to e3power the3selves !nd how f!rthey !re utili in& their collective stren&th to up&r!de their st!tus in society 6he b!n ers c!n underst!nd the 3e3bers% throu&h this study% wh!t they !ree@pectin& fro3 the b!n s 6he #overn3ent c!n provide !ssist!nce to the &roups b!sed on their re uire3ents Also% throu&h this study% the '#Os 3!y be !ble tounderst!nd the credit need of ".#s !nd !ccordin&ly su&&est to the b!n s for e@tendin& the ceilin& of lo!n

STATEMENT OF THE PROBLEM"uccess of ".#s e@clusively depends on how the 3e3bers !ssoci!te the3selves with the &roups n this direction it beco3es hi&hly i3port!nt to e@!3ine withwh!t purpose the 3e3bers 5oin ".#s $urther% ".#s pl!y !n i3port!nt role of providin& funds to the 3e3bers throu&h the b!n s Ch!t !re the purposes towhich such lo!ns !re utili ed by the 3e3bersN Do they find the !3ount of lo!n !de u!teN ".#s !re cl!i3ed to brin& forth 3!ny benefits to the 3e3bers 6heyen!ble the3 &et econo3ic!lly e3powered Ch!t is the i3p!ct of ".# 3e3bership on 3onthly inco3eN .ow do the 3e3bers of ".#s !t An!i3!l!i view the".#sN Ch!t do they thin !bout the ".#sN

n order to find solutions to !l l the uestions r!ised !bove% the present study h!s been undert! en

OBJECTIVES OF THE STUDYAccordin&ly% the followin& ob5ectives h!ve been fr!3ed 6hey !re%

6o e@!3ine the i3p!ct of ".# 3e3bership on 3onthly inco3e> 6o !scert!in the opinion of 3e3bers !bout ".#0 6o su&&est 3e!sures for the effective functionin& of ".#s

METHODOLOGYPri3!ry d!t! h!ve been collected throu&h interview schedule% in order to !scert!in the functionin& of "elf-.elp #roups !nd the opinions of 3e3bers !bout".#s M!5ority of the 3e3bers !re illiter!tes% therefore% interview schedule h!s been used to collect d!t! .undred !nd twenty 3e3bers h!ve been selected byr!ndo3 s!3plin& fro3 the list of &roups obt!ined fro3 M!h!t3! #!ndhi Ashr!3% which is !ctin& !s 'on-#overn3ent!l Or&!nis!tion ('#O) to !scert!in theopinion of 3e3bers !bout ".#

RESULTS AND DISCUSSION6he "elf-.elp #roups provide the benefits of econo3ies of sc!le% cost effective !ltern!tive for different fin!nci!l services% collective le!rnin&% de3ocr!tic !ndp!rticip!tory culture% ! fir3 b!se !nd pl!tfor3 for di! lo&ue !nd co-oper!tion Moreover% the benefits of "elf-.elp #roups !re b!sed on co-oper!tion r!ther th!nco3petition 6he ".#s !re infor3!l &roups where 3e3bers co3e to&ether tow!rd collective !ction for ! co33on c!use 6he co33on need here is 3eetin&their e3er&ent econo3ic needs without bein& dependent on outside help 6he 3!in ob5ectives of "elf-.elp #roups is to inculc!te the h!bit of thrift% s!vin&s%

b!n in& culture - th!t is% !v!ilin& of the lo!n !nd rep!yin& the s!3e over ! &iven period of ti3e !nd in the process% &!in econo3ic prosperity throu&h credit

SOCIAL PROFILE OF SHG MEMBERS6he soci!l profile of the "elf .elp #roup 3e3bers bro!dly includes their !&e% 3!rit!l st!tus% educ!tion!l u!lific!tion% occup!tion% type of f!3ily% tot!l nu3berof 3e3bers !nd tot!l nu3ber of dependents which !re e@pl!ined in the followin& p!r!&r!phs 6!ble h!s been prep!red to now the soci!l profile of ".#3e3bersI- AGE6he co3position of 3e3bers includes different !&e &roups 6!ble- shows th!t of the >* 3e3bers% >+ (>* ** ) 3e3bers !re with !&e r!n&in& up to 0*E K*(1= 00 ) !re with !&e r!n&in& between 0 !nd +* !nd the rest >I (> IK ) !re !bove +* ye!rs t indic!tes th!t the nu3ber of 3e3bers is very hi&h in the c!seof 0 - +* !&e &roup co3p!red with the other &roupsII- MARITAL STATUSOf the >* 3e3bers% *I (== 00 ) 3e3bers !re 3!rried !nd + ( IK ) !re widows t is found th!t there !re no un3!rried wo3en 3e3bers in the selected".#s $ro3 the t!ble it c!n be noted th!t the nu3ber of 3!rried 3e3bers is hi&h


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1

TABLE '1: SOCIAL PROFILE OF SHG MEMBERSP 5 > =? 5, N=;@65 /0 M6;@65, N 12% P65 6< 6 / T/ ?>- A 6

i 8p to 0*ii 0 to +*iii Above +*

>>- M 5> ? S =,i M!rriedii Cidow

>>>- E = >/< ? .= ?>0> >/ - O = >/?i 'ucle!rii Joint

>+K*>I

*I+

I>*0 IK

== 00IK

=> 1*K 1*

1* =0I IK

0> 1*

=+ K1 =0

III- EDUCATIONAL .UALIFICATION6he educ!tion!l st!tus of the respondents do not devi!te 3uch Al3ost 1* ) of the3 !re illiter!teE >* ( I IK ) 3e3bers h!ve studied up to pri3!rylevel !nd the rest one (* =0 ) 3e3ber h!s received second!ry educ!tion t is observed th!t the nu3ber of illiter!te 3e3bers is 3ore when co3p!red withother &roupsIV- OCCUPATION6he ".#s h!ve 3e3bers with different occup!tion Out of >* 3e3bers% 1+ (+1 ** ) 3e3bers !re !&ricultur!l l!boursE three (> 1* ) !re 3!r&in!l f!r3ersE

four (0 00 ) !re s3!ll f!r3ersE three (> 1* ) 3e3bers !re runnin& ! petty shopE two ( IK ) 3e3bers !re runnin& sweet st!llsE si@ (1 ** ) 3e3bers !reve&et!ble vendors !nd nine (K 1* ) 3e3bers !re en&!&ed in business !ctivities such !s !pp!l!3 business% etc 6hirty nine (0> 1* ) 3e3bers !re une3ployed

t c!n be seen fro3 the t!ble th!t the nu3ber of 3e3bers !re 3ore in c!se of those who !re !&ricultur!l l!bourersV- TYPE OF FAMILY

t c!n be seen fro3 the t!ble th!t of >* 3e3bers% the type of f!3ily of * (=+ K ) is nucle!r !nd the rest < ( 1 =0 ) 3e3bers belon& to 5oint f!3ily t iscle!r fro3 the t!ble th!t the percent!&e of 3e3bers is hi&h in the first c!se

ECONOMIC PROFILE OF SHG MEMBERS6he i3prove3ent in wo3en:s p!rticip!tion due to &roup !ctivities is u!ntified throu&h the co3p!rison of different p!r!3eters in pre !nd post &roupfor3!tion situ!tions One si&nific!nt ch!n&e th!t c!n be e@pected is the incre!se in the level of inco3e 6o e@!3ine whether the inco3e levels of the 3e3bersh!ve &one up% the followin& t!ble h!s been prep!red 6he t!ble !lso shows the econo3ic st!tus of the &roup 3e3bers

TABLE ( 2: ECONOMIC PROFILE OF SHG MEMBERSM/< 8? I< /;6 N=;@65 /0 M6;@65, N 12% P65 6< 6 / T/ ?>- B60/56 />< SHG

! 'ilb 8p to Rs 0**c Rs 0* Rs I**d Above Rs I**

>>- A0 65 />< SHG! 'ilb 8p to Rs 0**c Rs 0* Rs I**d Above Rs I**

0

>I>>+1>K

0> 1*0K 1*>= 00

IK

> IK= 00

0K 1*>> 1*

t c!n be seen fro3 the t!ble th!t of >* 3e3bers% 0< (0> 1* ) 3e3ber:s 3onthly inco3e before 5oinin& in this &roup is nilE +1 (0K 1* ) 3e3ber:s 3onthlyinco3e h!s r!n&ed up to Rs 0**E 0+ (>= 00 ) 3e3ber:s 3onthly inco3e h!s r!n&ed between Rs 0* !nd Rs I** !nd two ( IK ) 3e3ber:s 3onthly inco3e h!sr!n&ed !bove Rs I** M!5ority of the 3e3bers !re e!rnin& inco3e r!n&in& up to Rs 0** before they h!ve 5oined the ".#Out of >* 3e3bers% >I (> IK ) 3e3bers do not e!rn !ny !3ount even !fter 5oinin& in this &roupE >> ( = 00 ) 3e3ber:s 3onthly inco3e !fter 5oinin& in this&roup r!n&es up to Rs 0**E +1 (0K 1* ) 3e3ber:s inco3e r!n&es between Rs 0* to Rs I**E >K (>> 1* ) 3e3ber:s inco3e r!n&es !bove Rs I** $ro3 the t!ble

it c!n be noted th!t the nu3ber of 3e3bers with 3onthly inco3e r!n&in& between Rs 0* !nd Rs I** is hi&h when co3p!red with other &roups 6!ble - >shows the f!3ily inco3e of ".# 3e3bers Out of >* 3e3bers% !l3ost >*( ** ** ) 3e3ber:s f!3ily inco3e r!n&in& up to Rs >***

IMPACT OF SHG MEMBERSHIP ON MONTHLY INCOMEOne of the pri3e ob5ectives of ".#s is to enh!nce the econo3ic independence of wo3en By undert! in& different types of businesses% 3ostly collectively%wo3en !re !ble to up&r!de their inco3e level 8nderst!ndin& this% 3!ny wo3en !re now willin& to 5oin the ".#s 6o test whether there is re!lly !n incre!se inthe level of inco3e !fter ! 3e3ber h!s 5oined ".#% the followin& hypothesis h!s been fr!3ed !nd e@!3ined throu&h p!ired Gt: test Chile !pplyin& Gt: test % !section of the s!3ple h!s not been considered 6his section consists of 1K 3e3bers who h!ve 5ust 5oined the ".# !nd who h!ve not been e!rnin& before

5oinin& ".# "ince they !re new co3ers% the possibility of e!rnin& inco3e is uite re3ote 6hus% settin& !side these 3e3bers% the rest I0 3e3bers h!ve beenincluded for the Gt: test 6hese 3e3bers h!ve been e!rnin& inco3e now !nd were !lso e!rnin& or 5ust were not e!rnin&% before their entry in to ".#H/: T/ ' is n! *i"" ' n in %!nt/$) in !% + "!' #n* #"t ' 0!inin1 SHG.

TABLE ( 3: MONTHLY INCOME BEFORE AND AFTER JOINING SHGP!rticul!rs Before AfterMe!n nco3e Rs >=0 00 Rs 1K +0R!n&e Rs ** Rs =** Rs >** Rs ***

,!clu!ted Gt: v!lue + n Q I06!ble v!lue !t 1 per cent level Q


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1>

t c!n be seen fro3 the t!ble th!t the 3e!n inco3e of the &roup 3e3bers before 5oinin& ".# is Rs >=0 00 6he 3onthly inco3e before 5oinin& ".# h!s r!n&esbetween Rs ** !nd Rs =** After 5oinin& ".#% the 3e!n inco3e h!s incre!sed to Rs 1K +0 6he 3onthly inco3e !fter 5oinin& ".# r!n&es between Rs >** !ndRs *** .ence% it c!n be s!id th!t the 3e3ber:s inco3e h!s incre!sed subst!nti!lly !fter 5oinin& ".# Me3bers whose occup!tion is !&riculture% 3!y not h!vere&ul!r e3ploy3ent !nd re&ul!r inco3e but !fter 5oinin& ".#% they st!rt ! business !nd they e!rn re&ul!rly As the c!lcul!ted Gt: v!lue is &re!ter th!n the t!blev!lue !t five per cent level% there e@ists ! si&nific!nt difference in 3onthly inco3e e!rned before !nd !fter 5oinin& ".#6he 3e3bers whose occup!tion is business do not h!ve sufficient !3ount to invest further to develop their own business but !fter 5oinin& ".# they &et lo!nb!sed on s!vin&s b!n !ccount !nd fro3 Revolvin& ,redit 6hey t! e it !s ! ch!nce to i3prove their business !nd e!rn inco3e re&ul!rly 6herefore% 3icro credit!nd self help &roups !re better sche3es to i3prove the econo3ic e3power3ent of the wo3en 6his i3plies th!t 3uch effort h!s to be t! en to popul!ri e thesche3e so th!t rur!l households c!n le!d ! better life

MICRO CREDIT AND ITS USAGEMicro ,redit is distinctly different fro3 other poverty !llevi!tion sche3es Micro ,redit continues to t!r&et the rur!l !nd urb!n households% with e3ph!sis onwo3en borrowers% provision of fin!nce for cre!tion of !ssets !nd their 3!inten!nce !nd brin&in& in &re!ter u!lity of services 6he benefici!ries !re identifiedby Micro ,redit providers the3selves independently or throu&h '#Os% "elf .elp #roupsA LOAN FROM REVOLVING CREDIT#roups !re to be r!ted !s per the l!id down procedures !nd efforts !re re uired to rectify their we! !re!s 6here is no unifor3ity of revolvin& fund !ssist!nce!3on& &roups by the sponsorin& !&ency n order to e@!3ine the nu3ber of 3e3bers who h!ve received lo!n fro3 revolvin& credit% the followin& t!ble h!sbeen prep!redOut of >* 3e3bers% => (I= 00 ) 3e3bers h!ve &ot lo!n fro3 Revolvin& ,redit !nd the rest 0= (0 IK ) h!ve not &ot lo!n fro3 Revolvin& ,redit Out of =>3e3bers who &ot lo!n fro3 Revolvin& ,redit% three (0 II ) &ot !n !3ount up to Rs ***E K+ (+ ) &ot !n !3ount r!n&in& between Rs ** !nd Rs >***!nd the rest five ( I * ) &ot 3ore th!n Rs >***

t c!n be seen fro3 6!ble - + th!t of => 3e3bers% > (>1 I ) 3e3bers rep!y the lo!n on ! 3onthly b!sis p!yin& Rs **% the 3onthly inst!l3ent of +>(1 >> ) 3e3bers r!n&es between Rs * !nd Rs >** !nd the rest < (>0 K ) rep!y 3ore th!n Rs >** on ! 3onthly b!sis

TABLE ( 4: REVOLVING CREDIT AND REPAYMENTP 5 > =? 5, N=;@65 /0 M6;@65,

N 12%P65 6< 6 / T/ ?

>- L/ < 05/; R6 /? >< C56 >i 2esii 'o

>>- A;/=< /0 L/ < < 2i 8p to Rs ***ii Rs ** Rs >***iii Above Rs >***

>>>- M/< 8? R6 ;6< < 2i 8p to Rs **ii Rs * Rs >**iii Above Rs >**

=>0=

0K+

1

>+>

<

I= -000 IK

0 II+I *

>1 I1 >>>0 K

6!ble - + shows th!t the 3!5ority of 3e3bers h!ve &ot lo!n fro3 revolvin& credit% r!n&in& between Rs ** !nd Rs >*** !nd 3ost of the3 !re rep!yin& thelo!n !3ount on ! 3onthly inst!l3ent b!sis 6he rep!y3ent !3ount of 3ost of the 3e3bers r!n&es between Rs * !nd Rs >**B PURPOSE OF GETTING LOAN FROM REVOLVING CREDIT6he 3e3bers 3!y utili e the lo!n fro3 Revolvin& ,redit for different purposes 6hey usu!lly invest the !3ount in their own business or use it to st!rt ! newbusiness or spend for children:s educ!tion 6!ble - 1 reve!ls the purpose of &ettin& lo!n fro3 revolvin& credit

TABLE ( !: PURPOSE OF RECEIVING REVOLVING CREDITP 5 > =? 5, N=;@65 /0 M6;@65, < 2 P65 6< 6 / T/ ?i 6o invest in the present businessii 6o st!rt ! new businessiii 6o spend for children:s educ!tioniv 6o 3eet f!3ily cere3oni!l e@pensesv 6o rep!y 3oney borrowed fro3 outsidersvi 6o 3eet 3edic!l e@pensesvii 6o 3eet household e@pensesviii 6o 3eet e3er&ency needsi@ 6o invest in f!3ily run business

00*

K0+1+>

1 =11 =1> **

>>= 1+

+ +II> >*+ ==> ++

Multiple replies !re involvedt is found th!t 0 ( 1 =1 ) 3e3bers h!ve invested the lo!n !3ount in their present business 6he 3e3bers 3!y use the lo!n !3ount to st!rt ! new businesst is found th!t 0 ( 1 =1 ) 3e3bers h!ve used the lo!n !3ount to st!rt ! new businessE * ( > >* ) h!ve used for their children:s educ!tionE one ( >> ) h!s

utili ed to 3eet f!3ily cere3oni!l e@pensesE seven (= 1+ ) h!ve used the lo!n !3ount to rep!y the 3oney borrowed fro3 outsidersE 0+ (+ +I ) h!ve used to3eet 3edic!l e@pensesE 1 (I> >* ) h!ve used to 3eet household e@pensesE four (+ == ) h!ve utili ed to 3eet their e3er&ency needsE !nd two (> ++ ) h!veused to invest in the f!3ily-run business t c!n be seen fro3 6!ble - 1 th!t 3!5ority of the 3e3bers h!ve used the lo!n !3ount to 3eet their householde@penses, TYPE OF BUSINESS6he 3e3bers &et ! lo!n fro3 Revolvin& $und !nd use it for different purposes 6hey invest the lo!n !3ount in ! co33on business or sh!re !3on& the3selves!nd use it for different purposes individu!lly 6!ble I h!s been prep!red to !scert!in the type of business% st!rted by the &roup 3e3bers by usin& the lo!nfro3 Revolvin& ,redit


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TABLE ( $: TYPE OF BUSINESSP 5 > =? 5, N=;@65 /0 M6;@65,

< 13P65 6< 6 / T/ ?

>- T 6 /0 @=,> 8/= 86 86? /0 R6 /? >< F=***iv Above Rs >***

K+

10 =10* KKK I*** 6!ble -K shows th!t the 3!5ority of 3e3bers e!rn ! 3onthlyreturn fro3 their business !3ountin& up to Rs 1**

ASSITANCE FROM GOVERNMENT".# fin!ncin& is in i3ple3ent!tion in v!rious for3s in sever!l developin& countries% which is e3er&in& !s !n !ltern!tive choice for !llevi!tin& rur!l poverty in

ndi! 6he role of centr!l b!n s in the 3icro fin!nce sector brin&s out the co33it3ent or otherwise% of the policy pl!nners to !ssist develop3ent of sust!in!ble3icro fin!nce in the developin& econo3ies 6!ble I 0+ h!s been prep!red to !scert!in the e@pect!tion of !ssist!nce fro3 the #overn3ent

TABLE ( : ASSISTANCE FROM GROVERNMENTP 5 > =? 5, N=;@65 /0 M6;@65, N 12% P65 6< 6 / T/ ?>- A,,>, < 6 05/; 86 G/ 65


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RE)UEST FOR FEEDB"CK

D6 5 R6 65,

At the very outset% ntern!tion!l Journ!l of Rese!rch in ,o33erce M!n!&e3ent ( JR,M) !c nowled&es !ppreci!tes your efforts in showin& interest in our present issue under your ind perus!l

would li e to re uest you tosupply your critic!l co33ents !nd su&&estions !bout the 3!teri!l publishedin this issue !s well !s on the 5ourn!l !s ! whole% on our ?-3!il > 5 ; ; >?- /; for furtheri3prove3ents in the interest of rese!rch

f youh!ve !ny ueries ple!se feel free to cont!ct us on our ?-3!il > 5 ; ; >?- /;

!3 sure th!t your feedb!c !nd deliber!tions would 3! e future issues better ! result of our 5ointeffort

9oo in& forw!rd !n !ppropri!te consider!tion

Cith sincere re&!rds

6h!n in& you profoundly

A 6;> ?? /=5,

"d/-C/'/5 >< /5

DISCLAIMER6he infor3!tion !nd opinions presented in the Journ!l reflect the views of the !uthors !nd not of theJourn!l or its ?ditori!l Bo!rd or the Publishers/?ditors Public!tion does not constitute endorse3ent by the

5ourn!l 'either the Journ!l nor its publishers/?ditors/?ditori!l Bo!rd nor !nyone else involved in cre!tin&%producin& or deliverin& the 5ourn!l or the 3!teri!ls cont!ined therein% !ssu3es !ny li!bility orresponsibility for the !ccur!cy% co3pleteness% or usefulness of !ny infor3!tion provided in the 5ourn!l% norsh!ll they be li!ble for !ny direct% indirect% incident!l% speci!l% conse uenti!l or punitive d!3!&es !risin&out of the use of infor3!tion/3!teri!l cont!ined in the 5ourn!l 6he 5ourn!l% nor its publishers/?ditors/?ditori!l Bo!rd% nor !ny other p!rty involved in the prep!r!tion of 3!teri!l cont!ined in the 5ourn!lrepresents or w!rr!nts th!t the infor3!tion cont!ined herein is in every respect !ccur!te or co3plete% !ndthey !re not responsible for !ny errors or o3issions or for the results obt!ined fro3 the use of such3!teri!l Re!ders !re encour!&ed to confir3 the infor3!tion cont!ined herein with other sources 6heresponsibility of the contents !nd the opinions e@pressed in this 5ourn!l is e@clusively of the !uthor (s)concerned


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INTERNATIONAL JOURNAL OF RESEARCH IN COMMERCE & MANAGEMENT

ijrcm-1-IJRCM-1_vol-5_2014_issue-08-art-09

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