Volume 12 Number 2: October, 2017

Title: Boundary-less-Banking : Bankers Perception on Online-Banking in Meerut District

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Author-Name:  Dr. P. K. Saxena, Workplace-Name:  Associate Professor, Faculty of Commerce and Business Administration (Research Center), D. N. College, Meerut.

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Abstract: Online Banking in simple terms means, banking services through website which does not involve any physical exchange of money, but it's all done electronically, from one account to another. There is no need to go to the bank for transactions. Instead, one can access one's account any time and from any part of the world, and not necessarily at times when the bank is open. For busy executives, students, and homemakers, online-banking is like a virtual boon. No more taking precious time off from work to get a demand draft made or a Chequebook issued. Albeit, the day is not far enough when there will be any need for Demand Draft and cheque transactions and Pass book printing facilities. Banks use a variety of names for online banking services, such as PC banking, home banking, electronic banking, boundary less banking or Internet banking. It is the revolution of online banking that boosted up the e-commerce. Without online payment facilities, e-commerce cannot be thought upon and bill payments over internet can not be exercised. The present study is done in Meerut district with a basic hypothesis that the Banks are not able to provide full benefits of the Online-Banking to all customers. Lack of education and lower per-day wages are two hard facts that drawback lower level Indian population from the usage of online-banking. On the other hand, Government and organisational environment are influencing the Indian Banking System to be more electronic-friendly so as to provide easyness in banking procedures. These two polar reversals forced the author to conduct a study entitled “Boundry-less-Banking: Banker's perception on Online-Banking is Meerut District”

Keywords: Boundary-less-Banking, Online-Banking, ICT, Banking Industry.

Classification-JEL: G21, O16, P43.

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 1-8

File-URL: http://jctindia.org/jct/october2017-v12i2-1.pdf

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Title: The Relation Among Inequality, Poverty and Economic Growth (GDP) in India

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Author-Name:  Dr. Rajeev kumar, Assistant Professor, Department of Sociology, Government Degree College, Guradabanj (Almora) (Kumaun University, Nainital
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Abstract: In this paper, the relationship among economic growth, inequality and poverty between the post and pre reform period is shown. To capture the impact of th-is, we will take consideration the GDP at constant prices and on the other side we will take poverty ratio of both urban and rural area, poverty head count ration and number of peoples. It is well established now that growth and poverty have on undescribed relationship. Growth is necessary but proverty is not and, alone growth cannot riddle out poverty. The study examines the question of whether economic growth tends to reduce poverty, where using the most recent data available, the paper shows that an increase in the rate of GDP growth translates into a direct one-for-one increase in the rate of growth of average income of poor's. The economic growth also indicates that economic growth is essential for poverty reduction, especially when it leads to increase in employment and improvement in opportunities for productive activities among the people that are poor. The result obtained indicates that the positive change in economic growth is prone to poverty reduction. To therefore improve and sustain the rate of economic growth in India from which poverty could be reduced measures, such as, stable macroeconomic policies, huge investment in agriculture, infrastructural development and good governance are suggested. But the main focus of the paper is to show the casual relationship between economic growth and poverty.
The study will cover that the initial level of economic growth will have significant impact on the reduction of poverty as per given duration. The objective in this present research paper is to check the status of relation among inequality, poverty and economic growth (in Terms of GDP) in India.

Keywords: Poverty, Poverty head count ratio GDP, inequality, Economic Growth.

Classification-JEL: O16, E24, I32.

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 9-17

File-URL: http://jctindia.org/jct/october2017-v12i2-2.pdf

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Title: The Study of Reservations and Concerns in Application of 360° Feedback System

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Author-Name:  Deepak Sharma, Research Scholar, Mewar University, Gangrar, Chittorgarh (Rajasthan)

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Author-Name:  Dr. R. K. Singhal, Approved Guide, Faculty of Management, Mewar University, Gangrar, Chittorgarh (Rajasthan)

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Abstract: The main aim of the study is to analyze the effectiveness of 360-degree performance appraisal feedback system in Anand Publications and Nageen Publications. Performance evaluation techniques are often driven by a desire to minimize disagreement across evaluations. Historically, the typical goal of maximizing agreement is based on the assumption that there exists an objective reality that will be similarly perceived and reported, despite differences in rater perspective. The responses are presented collectively to the assessee    in the form charts and graphs. Comments and interpretations are presented later. Counselling sessions are arranged with the employee to remove the weaknesses identified in the Three sixty degree assessment. A sample size of 100 employees is chosen. Out of which 50 employees were from Anand Publications and remaining 50 from Nageen Publication. Companies that implement 360° feedback without first developing good managers who can give feedback correctly risk serious damage to teamwork and morale. Providing
constructive feedback calls for instruction, training and practice. Any organization considering using 360° feedback in the appraisal process should begin by using for development purpose only and then gradually to make it a part of appraisal system.

Keywords: 360° Feedback System, Appraisal, Human Resource Management.

Classification-JEL: E24, P47

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 18-26.

File-URL: http://jctindia.org/jct/october2017-v12i2-2.pdf

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Title: Indirect Taxes : A Balance of Resources and Expenditure

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Author-Name:  Dr Aarti Mundan, Ambala Road, Near Gurudwara, Town & PO Sarsawa, Saharanpur (UP)

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Abstract: India has federal system of Government and the division of taxes among the Centre and State Governments is very complex. Though, the Indian constitution creates a dual polity based on divided Governmental powers and functions, this division is not watertight compartment. Exact correspondence between resources and functions at different levels of the Government is not possible to secure in any federal system. The emergence of imbalances between functional responsibilities and financial resources is a characteristic feature of all federations. GST is also an information Technology driven tax mechanism. It clearly, shows a upward change in government revenue. It is further expected to have a charge on unlawful tax-aviodance. GST will benefit both governments as well as the consumers. Further, after the implementation of GST, the business will have to get GST ready software's. Hence, it is clear here that just registration is not enough for entire business management, government is planning a portal for easy excess monitoring. Here, it is notable that the increase in revenue which is being expected by the Government is not targeted from consumer’s pocket but from the tax-aviodance. The present paper gives a comparison and benefits between previous VAT and present GST.

Keywords: Indirect Taxes, VAT, GST, Tax-Avoidance

Classification-JEL: H21, H22, H26, H27.

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 27-33

File-URL: http://jctindia.org/jct/october2017-v12i2-4.pdf

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Title: Income Generation Capacity of Rural Women through Selected Entrepreneurial Activities (A Case Study of Nainital District)

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Author-Name:  Dr.Vipul Bhatt, Assistant Professor Stage 2 (Economics), Faculty of Humanities, GKVV, Haridwar (UK) - 249404  

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Author-Name:  Dr. Prafula Sharma, 300, Shalimar Garden, Extension-1, Sahibabad, (Ghaziabad)

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Abstract: women's role is limited to household affairs and farm activities, which, in general engage them for a longer hours each day. The women can be proved as a great resource for development process if properly managed and organized. The poor rural women need more to be self-reliant. Economically productive activities thus can significant improve the women's role in household and social decision making. Moreover, she can earn for her, maintain the earnings and can use this for herself and the children. Because, women's earning has a positive correlation with health, nutritional levels and education of children in the family. In the lack of identification of her strength, the potential in women for the development is going waste. All that required is to motivate poor rural women to participate in economically productive activities needed for their self-development and stability. Apart from agriculture, women must utilize her capacities through entrepreneurial activities to support their family income for further development. The study was conducted in Haldwani, Ramnagar, Nainital and Lalkhan Tehsils of Nainital District in Uttarakhand state. Rural women engaged in Shawl weaving, Carpet and mat making, Handicraft and embroidery work and Pine-wood work were taken as
sample for this study which amounts to a total random sample of 60 female respondents. The income of the respondents increased significantly after taking up the selected entrepreneurial activities. The rural women utilized the income to fulfill the family requirements, for savings and on education of children. Further women reported changes in food, clothing and education of children. It can be said that income generating activities is a powerful tool for women to fight against object poverty and to become self-reliant and independent.

Keywords: Income Generation, Rural Women, Entrepreneurial Activities

Classification-JEL: E24, E25, I10, I20, J11, J16.

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 34-39

File-URL: http://jctindia.org/jct/october2017-v12i2-5.pdf

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Title: The Study of Suggestive Areas for Boosting Tourism Sector in India

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Author-Name:  Rima Gupta, Research Scholar, Faculty of Commerce and Business Administration, D. N. College, Meerut.

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Author-Name:  Dr. S.K. Sharma, Associate Professor, Faculty of Commerce and Business Administration, D. N. College, Meerut .

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Abstract: The tourism industry has not only contributed only to the tourism revenue but also it has supported other diverse sectors, too such as horticulture, handicrafts, agriculture, construction and even poultry. Investments in tourism infrastructure development of India contributes not alone to the tourism but to the civic infrastructure also. It might include provision of road side amenities, tourist information bureaus and tourist information providing websites. India as a tourist spot is rising but its growth is comparatively very slow as
compared to rest of the countries. Managerial planning, proper advertising, cleanliness, hygiene and infrastructure are some culprits responsible for slow growth of tourism sector. Though, India has a lot of attraction like culture, history, architecture, food, warm people, scenic beauty, temples, festivals, colours but the negative points overshadow the positives. The present paper gives some important suggestive areas for boosting tourism sector in India. It is recommended that training, capacity building and sensitization specific to different categories of service providers should be carried out as part of 'tourism awareness programs'. Special efforts should be made to reach out to the local communities through awareness campaigns and workshops to better inform local bodies, parents, teachers, citizen's groups and individuals seeking gainful employment.

Keywords: Tourism Industry, Employment, Rising Income, Private Sector, Infrastructure, Fiscal Incentives.

Classification-JEL: Z1.

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 40-44

File-URL: http://jctindia.org/jct/october2017-v12i2-6.pdf

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Title: A Case Study on Investment Decisions of Madhur Oil Company

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Author-Name:  Surbhi Bansal, Assistant Professor, Department of Commerce, Patel Memorial National College, Rajpura (Punjab), India

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Abstract: Modern managers are doing such financial and investment planning in a different way. In their concept, it does not mean capitalisation and capital structure of the organisation, but also it includes the determination of the organisation’s investment decisions, investment policies and investment procedures. The purpose of research is to survey and analyse some different behaviour in the process of an organisation or a different aspect which can benefit the mass in future. Hence, the present paper makes a case study on investment decisions of Madur Oil Company. Madur Oil Company has earned 139% ROI and got reduced cost of
production. There is also a saving in manpower and saving of oil which reduces overall cost of production which shows favourable situation to undertake the project..

Keywords: Investment Decisions, Capital, Finance, Rate of Return

Classification-JEL: G31, G32.

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 45-48

File-URL: http://jctindia.org/jct/october2017-v12i2-7.pdf

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Title: The Study of Financial Supply Chain Management: Challenges and Obstacles

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Author-Name:  Dr. Brijesh Kumar Agarwal, Associate Professor, Faculty of Commerce and Business Administration, D. N. College, Meerut.

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Abstract: Supply Chain Financing (SCF) is a product offered by banking sector to realize lower prices for credits. This product is offered to the supplier on the basis of the creditworthiness of the buyer. Credits can therefore been offered at a lower rate of financing than the supplier would be able to negotiate on its own. The goal of
working capital management is to keep working capital on an optimal level. This optimal level is the level needed in order to meet the obligations of the company without having excessive levels of cash. Working capital management is concerned with the cash flows moving around the company and it is a big advantage if a company has a clear picture of where funds are required. The present study is a distinct type of work based on secondary information. This is a descriptive work. It discusses various challenges and obstacles which may come in the way of financial supply chain management. Companies can use the financial crisis as an opportunity to rethink their business model. This requires also further development of research in the area of short term financial management and tools for a more accurate risk management.

Keywords: Financial Supply Chain Management, Working Capital Management, Purchase to Pay cycle, Order to Cash Cycle, Days Payables Outstanding.

Classification-JEL: G31, G32.

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 43-53

File-URL: http://jctindia.org/jct/october2017-v12i2-8.pdf

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Title: Status of Pradhan Mantri Jan Dhan Yojna In Uttarakhand : An Initiative under Financial Inclusion

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Author-Name:  Ramanpreet Kaur Nayyar, Assistant Professor, Department of Economics, School of Social Sciences, Doon University, Dehradun.

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Abstract: The irony of the Indian growth story is that where on one hand, a certain proportion of the population is enjoying the accessibility of banking services; on the other hand, another segment remains underprivileged. The lower income strata are totally deprived of even basic financial services. Though banking industry is growing both horizontally and vertically, in spite that the penetration of branches in rural areas does not match with the rising demand and the need for accessible financial services. Even after decades of Bank nationalization, the country is still struggling for the access of financial services and still a large proportion of the nation depends on money lenders or the informal sector who are continuously exploiting the poor. In this regard, many initiatives have been taken by the government to include the exclusions. PMJDY launched in 2014 is one of such initiative. This paper attempts to put forth the status of Pradhan Mantri Jan Dhan Yojna, an initiative under financial inclusion.

Keywords: Financial Inclusion, Exclusion, Jan Dhan Yojna, Financial service, Growth.

Classification-JEL: E52, G21, G32.

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 54-61

File-URL: http://jctindia.org/jct/october2017-v12i2-9.pdf

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Title: A Study of Factors Influencing the Choices of the Consumers for the Portrayal of Women in Advertising

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Author-Name:  Dr. Kavita Saxena, Associate Professor, Department of Economics, D. N. College, Meerut

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Abstract: The role of women has been changing over the years in various fields around the world like advertising, academics, politics, etc. Today 30 per cent of employees in the software industry are women. Advertising has evolved into a powerful marketing tool over the last century. Advertising is one of the “promotional tools” used in marketing endeavors, as one means of communication between the seller (advertiser) and the buyer (consumer or organization). Advertising plays a very important role in communicating with the consumer and influencing the consumer's decision-making process. The general roles that women play in advertising are Decorative Role, Recreational Role, Independent Career Role, Self-involved Role, Carefree Role and Family Role. The portrayal of women in advertising has been particularly stereotypical with confinement of women to household chores. The female model in the advertisement or commercial should represent an image that target consumers can identify with. The aim of marketing communication is therefore to link the organization (sponsor) with the target audience in a manner to which the audience can relate.

Keywords: Consumer, Women, Advertising, Career, Women Empowerment.

Classification-JEL: D11, J16, M37.

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 62-67

File-URL: http://jctindia.org/jct/october2017-v12i2-10.pdf

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Title: A Study of Factors Influencing the Choices of the Consumers for the Portrayal of Women in Advertising

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Author-Name:  Dr. Sana Beg, Assistant Professor, Department of Management, Jamia Hamdard, New Delhi.

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Author-Name:  Nandita Joshi, Student, Department of Management, Jamia Hamdard, New Delhi.

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Abstract: Demonetization is the act of stripping a currency unit of its status as legal tender which occurs whenever there is a change of national currency. On the eve of 8th November 2016, the Prime Minister of India announced the demonetization of the Rs. 500 and Rs. 1000 currency notes with immediate effect, with a very few exceptions. This was a surprise move by the government to curb and control black marketing. However, no single person was left unaffected by this. It affected different people differently. It is believed to have specially hit the poor and people living in the remote areas of India. This paper was conducted in January-February and is an attempt to assess the perception of the people about the impact of demonetization. This study is useful for determining the perception of the people towards the recent event of demonetization in India. It can help the government to know about what people feel about the demonetization, what were its effects on them and what steps can the government take to improve the situation. It is to be noted that the study was undertaken in January-February 2017. Though the situation is under control now, people who do not have any bank accounts and even those who have accounts in cooperative banks are still recovering from the negative effects of the note ban.

Keywords: Demonetisation, India, national capital region, public perception

Classification-JEL: A10, E41, E42, E52..

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 68-75.

File-URL: http://jctindia.org/jct/october2017-v12i2-11.pdf

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Title: A Study of Working Capital Management in SSI—A Conceptual Framework

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Author-Name:  Dr. Raavi Jain, Professor, Department of Commerce, S. D. College of Commerce, Muzaffarnagar (UP)

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Abstract: The role played by small business in the economic activity of Indian history since practically the beginning of the recorded time is significant. Small scale industries are the backbone of our industrial structure as they provide a variety of non-traditional, low technology products. They are also engaged in the processing, preserving, manufacturing & servicing activities and play a vital role in balanced and sustainable economic growth. Thus, a proper development of small scale industries is essential for the healthy growth of economy. Working capital typically means the firm's current or short-term assets such as cash, receivables, inventory
and marketable securities. The capital of a business which is used in its day-by-day trading operations, calculated as the current assets minus the current liabilities. Working capital is also called operating assets or net current assets. Working capital management is concerned with the problems that arise in attempting to manage the current assets, the current liabilities and the interrelations that exist between them. Working capital management plays a vital role for small scale industries in their day to day operations. The decision of
working capital management is an important aspect for small scale industries because management of current assets and current liabilities represented mainly by cash, inventories, bills receivables and bills payable is a continuous process. Working capital requirements differ widely depending on the length of the manufacturing cycle, market characteristics etc. Working capital needs are volatile in nature due to seasonal variations in sales.

Keywords: Small Scale Industries, Working Capital, Working Capital Management, Current Assets, Current, Liabilities

Classification-JEL: E22, L11, L16, M49..

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 76-81

File-URL: http://jctindia.org/jct/october2017-v12i2-12.pdf

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Title: Demonetization and Its Effects in India

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Author-Name:  Dr. Anju Garg, Associate Professor and Head, Economics Department, DAV (PG) College, Bulandshahr

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Abstract: On 8 nov 2016 Indian Government had taken a bold decision of banning the circulation of 500 and 2000 notes. The Central Government was judicious well thought out and had taken a well implemented step. This a measure was taken for the Prime Minister to solve the problem of corruption, black money and counterfeit money. This study will help us to know about the positive nd negative effect of the demonetization. This study is based on secondary data like magazines, internet, research paper through some companies etc. and to analyse all the aspects of demonetization and calculate the worse and better effects of it on india. It also studies the demonetization in other countries and compare it with India.

Keywords: Demonetization, GDP, Indian Economy, Black Money, Corruption

Classification-JEL: A10, E41, E42, E52.

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 82-88

File-URL: http://jctindia.org/jct/october2017-v12i2-13.pdf

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Title: Barriers to Women Participation in Sports and Physical Activity in Southern Rajasthan

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Author-Name:  Dr. Deepti Bhargava, Principal, Shrinathji Institute of Biotechnology and Management, Nathdwara, Rajsamand, Rajasthan

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Abstract: Women in sport can shape women's capabilities as leaders especially in traditional male areas. Women's participation in sport can create a substantial contribution to social life and overall development. Sports for women represent a fast growing area in India and it can be used as tool to empower women. Recent trends show that the knowledge and awareness among female towards sport participation is increasing. But as compare to other country and per ration of male and female, there is need to increase participation of female in sport and physical activities. Females of all ages generally have lower physical activity participation rates than males. Increasing physical activity levels for females is important for health and mental wellbeing. This Paper proposes to examine the situation of woman sports statuses in Southern Rajasthan.There are many factors which become barriers in women participation in sports activities. This paper highlights the barriers to women in participation in sports and physical activities. The paper is attempted to examine which barrier create more hurdle for females participation. The paper objective is also to find out the overall opinion of women toward sports activity. Final the researchers try to give recommendation to increase or motivate the women participation in sports and physical activities.

Keywords: Women Participation, Barriers, Factors, Sport and physical activities 

Classification-JEL: I20, I21, J16.

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 89-97

File-URL: http://jctindia.org/jct/october2017-v12i2-14.pdf

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Title: Spiritual Leadership and Its Impact on Organizational Performance

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Author-Name:  Dr. Rakesh Kumar, Assistant Professor in Commerce, Shaheed Bhagat Singh College, University of Delhi, India

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Abstract: The purpose of this paper is to review the concept of spiritual leadership and its relationship with Organizational performance. Spiritual leadership consists of components such as vision, altruistic love, faith and Organizational Commitment. All organizations have potential for growth and success. The key is effective leadership. We have multiple bookstore shelves overflow with leadership theories. Most leadership promotes ideas based on scripture and does not imply the role of god in attaining spirituality. Spiritual leaders who simply follow secular methods and their experience to get success but will be unable to attain true spiritual leadership. People follow spiritual leaders who understand god agenda and who know how to move them on to it. In this paper, we have made an attempt to describe what spiritual leadership is and how it affects the organisanational performance.

Keywords: Spiritual leadership, Leadership styles, Organisational performance etc.

Classification-JEL: D23, M10, M11.

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 98-105

File-URL: http://jctindia.org/jct/october2017-v12i2-15.pdf

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Title: A Study on Service Quality and Passenger Satisfaction on Indian Airlines

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Author-Name:  Dr. K. Singaravelu, Research Supervisor, Department of Commerce, CBM College, Coimbatore

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Author-Name:  V. P. Amuthanayaki , Assistant Professor, Department of Commerce with Computer Applications, Sri Ramalinga Sowdambigai College of Science and Commerce, Coimbatore

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Abstract: This study examines the underlying forces of service quality influences on passengers’ satisfaction in aircraft transport. The study examines which dimensions have a positive influence on service quality and which dimensions have the most and least important impact on service quality in international air travel, as perceived by airline passengers. The findings of this study are based on the analysis of sample respondents. This study analyzed the data from passengers of three classes, economy, business and premium. The results suggest that there are different factors of in-flight service quality that are important according to the customer seat class. The dimensionality of perceived service quality in international air travel was explored and three dimensions were identified. These dimensions include in-flight service, in-flight digital service and back-office operations. The findings reveal that these three dimensions are positively related to perceive service quality in international air travel and of these dimensions, Cuisines provided, seat comfort safety are the most important dimension in in-flight service quality. Personal entertainment is the most important dimension as perceived by airline passengers in In-flight digital service quality. Online ticket booking is another dimension in back-office operations. In addition, the findings indicate that passengers’ satisfaction on different airline companies on basis of the services delivered.

Keywords: Aviation, Service Quality, Passenger Satisfaction, Indian Airlines, Profitability

Classification-JEL: D18, L83, L93.

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 106-115

File-URL: http://jctindia.org/jct/october2017-v12i2-16.pdf

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Title: Forecasting Exports of Tea from India : Application of Arima Model

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Author-Name:  Dr. Sudeshna Ghosh, Associate Professor (Economics), Scottish Church College, 1 and 3 Urquhart Square, Kolkata (WB)

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Abstract: Exports form an integral part of decision making for a large country like India. Tea is an important beverage which is homogeneously essential in the domestic sector and across the globe, transcending geographical boundaries, social groups and ages. About seventy three percent of the world's tea exports come from four countries, including India. This paper uses time series model namely ARIMA to make short term forecasting of tea exports in India using 79 monthly observations. The battery of diagnostic tests are conducted to examine the efficacy of the model hence built. The model ARIMA (1,1,0) has the lowest AIC and BIC criteria, since it has two parameters following the principle of parsimony ,this model is chosen An eight period ahead export of tea is predicted. The observations indicate a rising trend in exports. The model fitting
is compared with SES and HES to show that ARIMA has higher fitting accuracy than exponential smoothing. The implications of the results developed in the paper is useful for considering short term market fluctuations in export of tea in India.

Keywords: ARIMA model, forecasting, export, tea ,India

Classification-JEL: C53, F17, F23.

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 116-129

File-URL: http://jctindia.org/jct/october2017-v12i2-17.pdf

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Title: The Study of Indian Automobile Industry : The Evolving Dynamics

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Author-Name:  Dr. Narendra Kumar Sharma, Assistant Professor, Krishna Degree College, Agra

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Abstract: The Indian automobile industry has emerged stronger from the recent global downturn, and sales across all segments have seen record breaking numbers in the recent past. While the Indian industry has much to look forward to, by way of steady growth in both domestic and export markets, there are some clear challenges accompanying the opportunities in greener vehicles and alternative mobility. In order to capitalize on these opportunities, the industry needs to develop or acquire technologies and capabilities to produce vehicles that meet future market needs. The government for its part has much to do to ensure the growth trends are maintained, and encourage the development of greener vehicles, while also improving compliance to even existing environmental standards. Rising prosperity, easier access to finance and increasing affordability is expected to see four-wheelers gaining volumes, although two wheelers will remain the primary choice for the majority of purchasers, buoyed by greater appetite from rural areas, the youth market and women. Manufacturers of four-wheelers and commercial vehicles in particular stress the importance of optimizing conventional combustion engines before experimenting too radically with costly new technologies. Vehicles based on alternative fuels remain another area of interest for both consumers and companies. The automobile industry has yet to fully tap into demand from rural areas. Previously, consumers from these areas would need to go to automobile dealerships in towns and cities for their vehicle purchases. However, in recent years, market players have made overtures to rural consumers, with encouraging sales. While India remains predominantly a cost conscious market, profitable niches are available for the products which address specific needs. The growing population, a significant proportion of which will be of working age over the next decade, is another source of demand to most automobile companies.

Keywords: Indian Automobile Industry, Green Vehicles, Affordability, Rural Consumers, Manufacturers

Classification-JEL: L62, M11

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 130-134

File-URL: http://jctindia.org/jct/october2017-v12i2-18.pdf

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Title: Implication of Efficient Market Hypothesis for Investment Decisions

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Author-Name:  Dr. Monika Garg, 

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Abstract: The productive mart theory is worried about the conduct of costs in resource mart. The term 'PROFICIENT MART' was at first connected to the share trading system, yet the idea was soon summed up to other resource markets. The efficient market speculation expresses that advantage costs in money related markets ought to mirror all accessible data; as an outcome, costs ought to dependably be steady with 'essentials'. In this paper, an endeavor has been made to break down the basic survey of hypothesis of Efficient Market Hypothesis and its suggestions for venture choice. The present examination is totally in view of the accessibility and use of optional information and writing. The examination made utilization of different articles distributed in Journals and Newspapers of national notoriety. Some rumored handbooks related with back are additionally be utilized. Our point is to talk about the primary thoughts behind the speculation, and to give a guide as to which of its forecasts appear to be borne out by exact proof, and which don't. In looking at the observational proof, we focus on the stock and remote trade markets, however a significant part of the talk is important to other resource markets, for example, the security and subsidiaries markets.

Keywords: Market, Investment Decisions, Capital Market.

Classification-JEL: G11, L22, M31.

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 135-141

File-URL: http://jctindia.org/jct/october2017-v12i2-19.pdf

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Title: Impact of Demonetization on E-Commerce in Indian Economy

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Author-Name:  Dr. Harmeet Kaur, Commerce Department, Sophia Girls' School, Meerut (UP)

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Abstract: Demonetization has given a boost to digital payments and is encouraging people to shop online more. This will definitely provide an opportunity for e-commerce players to push customers towards adopting cashless instruments and recalibrate business models to incentivize cashless instruments. E-commerce (electronic
commerce or EC) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. These business transactions occur either as business-to-business, business-to-consumer, consumer-to-consumer or consumer-to-business. On November 8th 2016, India came to a standstill when Prime Minister Narendra Modi Ji announced the demonetization of Rs 500 and Rs 1,000 currency notes of the Mahatma Gandhi series. 86 per cent of the currency in circulation ceased to become legal tender after midnight of that day. Demonetization aims at pushing consumers towards making digital payments, thereby contributing to a cashless economy. Niti Aayog published a report on the growth of digital payments in India post-demonetization. Despite bringing chaos in its initial days, demonetization in the long run is considered beneficial to the growth of e-commerce in India. One of the long term benefits for the ecommerce industry is reduction in payments via Cash on delivery (COD). More companies now try to entice consumers directly online, using tools such as digital coupons, social media marketing and targeted advertisements.

Keywords: Demonetization, Digital Payments, E- Commerce, Cash on Delivery, NITI Aayog

Classification-JEL: A12, E41, E52, L81

Journal of Commerce and Trade. Volume 12 Number 2. October, 2017. Pages: 142-147

File-URL: http://jctindia.org/jct/october2017-v12i2-20.pdf

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