A Study on Payment Banks in the Context of Digital Banking

International Journal of Economics, Commerce and Research (IJECR) ISSN (P): 2250–0006; ISSN (E): 2319–4472 Vol. 10, Issue 1, Jun 2020, 37–46 © TJPRC Pvt. Ltd.

A STUDY ON PAYMENT BANKS IN THE CONTEXT OF DIGITAL BANKING G. RAMYA1 & Dr. J. JAYASANKAR2 1

Research Scholar, Department of Commerce, D. G. Vaishnav College, Chennai, Tamil Nadu, India 2

Associate Professor, Head & Guide, Department of Commerce, D. G. Vaishnav College, Chennai, Tamil Nadu, India

ABSTRACT India’s economic development depends on sound financial system framed by RBI.

Technological metamorphosis

transformation in the field of banking has given rise to Payment Banks. The RBI committee headed by chairman, Dr. Nachiket Mor, gave an impetus to Payment bank in 2014. The result of the committee revealed that there is a substantial demand for financial services in rural areas. To address such a demand, payment banks have evolved in banking space.

The main aim of setting payment banks is inclusive financing by providing fund transfer service to laborers, opening small savings account to migrant workforce, assisting low income groups to start business, etc.

A payment bank is licensed under section 22 of Banking Regulation Act 1949, the bank assures to revitalise the

in the country. The bank basically provides payment service, fund transfer and does not involve risk of credit. The main purpose of the study is to discuss the unfold view of Payment Banks like Airtel Payment Bank, India Post Payment Bank, Paytm Payment Bank, Fino Payment Bank & Jio Payment Bank in the context of digital mode. Further study has examined the challenges faced by Payment Banks and the opportunities that they are likely to face in future.

KEYWORDS: Payment Banks, Financial Inclusion & Banking Regulation Act 1949

Original Article

sector by employing mobile platforms to provide basic transaction services to the under-served and unserved populations

Received: Oct 21, 2019; Accepted: Nov 11, 2019; Published: Jan 22, 2020; Paper Id.: IJECRJUN20206

1. INTRODUCTION With an aim to improve banking facilities and provide an unmatched experience to the customers, the bankers have repeatedly made an attempt to innovate new products and services. Payment Bank is fresh to the banking space conceptualised by RBI committee on ‘comprehensive financial services for small businesses and low income households, headed by chairman, Dr. Nachiket Mor. The bank accepts restricted deposit of Rs. 1,00,000 per customer and operates with two types of accounts, namely Saving Account & Current Account. Besides, the Bank also provides other remittance services at a nominal rate by leveraging the technology of mobile. The target segment of payment banks includes farmers, low-income households, migrant laborers and small business. In 2016, the report of World Bank disclosed that 50% adults in the poorest households are not banked & 2 billion populations worldwide do not use the formal channel of banking.

2. REVIEW OF LITERATURE Payment Bank will provide doorstep banking to the people in remote areas at nominal cost and it is one of the important tools of financial inclusion. Besides, payment banks will create ripples in the banking system, which will create tough competition to conventional banks in future. The overhead cost incurred by payment banks are less, as it

www.tjprc.org

editor@tjprc.org

38

G. Ramya & Dr. J. Jayasankar

uses existing infrastructure (Dr. Ravi, 2017). In order to achieve the objective of financial inclusion through wider coverage of financial services, the RBI has taken a deliberate decision to introduce Payment Banks (K. Lohith Kumar, D. Mahammad Rafi & J. Mahaboob Rabbani 2016). The customer can conduct a transaction or payment through internet or mobile app or through IVR/USSD gateway to registered merchant or user (Kahlon Amritpal Parmjeetsingh, Kajal Chaudhary, Surjan Singh, Amit Kumar, 2017). Mobile companies, NBFCs, PPIs, supermarket chains, etc., are given the competent right to configure payment banks. (Mr. Harminder Singh and Ms. Manpreet Kaur 2017). The announcement of Payment Bank was considered as a threat to the existing revenue structure of commercial banks (Shiharsha Reddy, K. & Sarat Babu A., 2018).

2.1 Research Gap After literature review, it is observed that almost all the studies have revealed a general view of Payment Bank towards digital inclusion. Hence, the researcher has made an attempt to narrow down the topic by giving special attention to different types of payment banks, its challenges and opportunities faced in the current scenario.

3. AIM OF THE STUDY •

To understand the Concept of Payment Banks in India

•

To study the urgency of Payment Banks

•

To analyse the challenges and opportunities faced by payment banks

3.1 Research Methodology The researcher has made a conceptual study. Secondary data were obtained from Annual reports (RBI, NPCI, MeitY, Ministry of Finance), National and International Journals, articles, magazines, newspapers, etc.

4. THE CONCEPT OF PAYMENT BANKS Vodafone launched M-Pesa for Vodacom and Safaricom in 2007 for providing mobile-based fund transfer. The user of MPesa can pay for services, deposit & withdraw money using virtual banking mobile platform. In 2016, the bank had 24 million account holders for m-pesa in Tanzania & Kenya, which revealed its success.

Payment banks in India are trying to adopt the same approach to leverage its customer base. Remittance service to migrant labor, small businesses, small savings accounts, meagre income households, etc., are seen as the tools to attain the goal of financial inclusion (Reserve Bank of India, 2016). There are many financial transactions done on a single day in which ‘payment’ is a main option. Payment Banks have given their hand to reduce the working burden of commercial banks (Nidhi Chandarana, 2015). The payment banks work like commercial banks, but there are few differences among them.

Basis of Dissimilarity

Table 1: Payment Bank vs Commercial Bank Payment Bank

Commercial Bank

a) Establishment

Started operation on November 2017

As its base of operation from 1786

b) Holding

d) Equity Capital (paid- up) e) Credit

Restricted deposit of Rs.1,00,000 Issue debit and ATM card but not credit card Rs.100 cr Cannot give loan to customers

f) Foreign investment

NRI deposits are not accepted

Accept any amount as deposit The bank issues debit and credit card to its customers Rs.500 cr Gives loan to customers in need Commercial Banks accepts NRI deposits

c) Card

Impact Factor (JCC): 6.5424

NAAS Rating: 3.27

A Study on Payment Banks in the Context of Digital Banking

g) Investment in Government securities

75% of Total Demand Deposits in SLR

39

Maximum deposit 22%

5. URGENCY OF PAYMENT BANKS The demonetization announcement in 2016 gave a greater push to transitioning to a cashless economy and encouraged usage of digital technologies for payments. Prepaid Payment Instruments are the good concepts of financial inclusion.

There is no need to handle cash physically or visit the ATM branch, instead the user can load cash into mobile phone and use it to purchase goods, pay bills, receive services, etc.

But the money stored in the wallet does not earn any income. This drawback of earning interest is overcome by Payment Banks by providing interest on the money. Pradhan Mantri Jan Dhan Yojana has helped the government in bringing down the unbanked in remote areas, but there are still millions of population, who do not have bank account. (Dr. Ravi, 2017).

Date 23.09.2013 07.01.2014 17.07.2014 27.11.2014 19.08.2015

Table 2: Journey of Payment Banks Proceeding Nachiket Mor formed a committee on ‘Comprehensive financial services for small Business & Low Income Households The committee submitted final report recommending Payment Bank RBI released draft guidelines seeking comments from interested parties Final guidelines on Payment Banks released RBI gives ‘in-principle’ licenses to 11 entities

Recommendation of Dr. Nachiket Mor committee: •

Universal bank account for all the Indian residents above 18 years.

•

Increase in the level of GDP through loans & deposits at district level

•

Rapid coverage of vast population could be done through Aadhaar

5.1 Registration, License and Regulations of Payment Banks The RBI issued payment bank licenses to 11 entities on 19.08.2015, and there are 5 payments banks, namely Airtel, India Post, Fino, Jio & NSDL, currently operating in India as a Public Limited Company under The Companies Act 2013.

Payment Banks can accept demand deposits, provide transfer service, make payments, etc., which are licensed under Sec. 22 of Banking Regulation Act, 1949, FEMA 1999, Payment & Settlement System Act 2007 & DICGA 1961 are also governed by the payment banks.

5.2 Working of Payment Banks The main source of money for Payment Banks are the charges levied on deposits and withdrawals, e.g., Fino Payments Bank apart from its first two services, will charge Rs. 5 per Rs. 1,000 if you deposit or withdraw money at its bank branch.

At a merchant outlet, cash deposits and withdrawals will charge Rs. 5 or 0.6% of the transaction amount, whichever is higher. Airtel Payments Bank will charge 0.65% of the withdrawal amount if the customer withdraws cash from banking point. India Post Payments Bank for doorstep banking, charges between Rs. 15 and Rs. 35, depending on the type of service. Paytm Payments bank charges are similar to a major bank in India. It offers five free transactions in non-metro cities and three free transactions in metro cities.

5.3 Types of Payment Banks

www.tjprc.org

editor@tjprc.org

40

G. Ramya & Dr. J. Jayasankar

•

Airtel Payment Bank (APB)

•

India Post Payment Bank (IPPB)

•

Paytm payment bank (PPB)

•

Jio payment bank (JPB)

•

NSDL Payment Bank (NSDL)

•

Fino Payment Bank (FPB)

5.3.1 Airtel Payment Bank (APB) APB is the first Public Limited Company in India to receive license from RBI on 11.04.2016. It is the subsidiary of Bharti Airtel and has entered into Joint venture with Kotak Mahindra Bank. The Bank provides innovative and convenient services, like digital banking using Aadhaar-based e-kyc, mobile number as bank account number, interest at 7.5% p.a..

The benefit of one-minute talktime to Airtel users are given to the account holders at the time of initial account opening of payment banks. One minute of Airtel mobile talktime for every rupee deposited at the time of opening savings bank account, money transfer, free Personal Accidental Insurance of Rs. 1 lakh, PMJJBY, USSD & IVR in 12 local languages, etc.

Sl. No. a. b. c. d. e. f.

Table 3: Transactions Charges of APB Transactions Charges Account Opening Nil Cash Deposit(IB / Mobile App) Nil • Rs.1 to Rs.20,000 = Nil Cash Deposit (Banking Points) • More than Rs.20,000=0.5% of deposit amount • Rs.1 to Rs.10,000=Nil Cash Withdrawal • More than RS.10,000 =0.65% of withdrawal amount • Send money Rs.25 per transaction Card Less Cash Withdrawal-IMT • Self withdrawal Rs.25 (first 2 trans. Free) Transfer of fund (IB, M-App & USSD 1% of amount transferred

It is one of the largest telecom service providers to support the cashless revolution promised by Government of India. At present, the bank has 30 million customers with 5 lakh banking points in 29 states. Besides to smoothen digital payments, the banks have also provided a platform through Unified Payment Interface.

5.3.2 The India Post Payment Bank (IPPB) The main objective of IPPB is to provide reliable, reachable & economical bank for a layman. The bank will use its vast postal network to offer financial services to the people in rural areas (appox. 1.55 lakhs branch post offices). Ownership of India Post Payment Bank is 100% Government of India, Department of Posts, under the Ministry of Communication. The IPPB was launched by Prime Minister Narendra Modi on 01.09.2018 (pilot project 2017). The focus of IPPB is to serve social sector beneficiaries, migrant laborers, unorganized sector, micro, small & medium enterprises, panchayats & lowincome households.

The IPPB offers savings account (regular, digital & basic) and current account, which can be opened (zero balance) instantly through mobile apps by providing Aadhaar number with KYC verification. Merchants belonging to unorganized retail outlets like kirana store, mobile recharge shop, food kiosk, travel agent, tea stall owner, etc., can use this service to accept digital payments through apps. The RBI accepts a deposit cap of Rs. 1,00,000 per account holder.

Impact Factor (JCC): 6.5424

NAAS Rating: 3.27

A Study on Payment Banks in the Context of Digital Banking

41

Interest is credited at 4% on quarterly balance and any amount in excess of Rs. 1,00,000 is transferred to Post Office Savings Account.

The customers can use NEFT, RTGS & other money transfer services to transfer to any bank account. Other services include Mobile Banking, SMS Banking, Missed Call Banking, Phone Banking, QR card, Linkage IPPB and Post Office Savings Account. Facilities like bill payment (DTH, gas, EB) remittance & fund transfer, direct benefit transfer, DOP products, like Sukanya Samriddhi Account, PPF, RD Account, Loan against RD, etc. Doorstep Banking – Postman in rural (11,000 GDS) and urban areas will provide doorstep banking services for a nominal charge.

Table 4: Transaction Charges of IPPB Transactions Service Charge Digital transactions – transactions other than cash deposit & withdrawal Rs.15 per transactions Cash transactions – cash withdrawal & cash deposit Rs.25 per transactions *Money transfer charges are extra in addition to the above service charge.

Benefits of IPPB includes expansion of rural banking, access diversified services, like online banking, mutual funds, act as a catalyst for social and financial inclusion. Further, IPPB gives boost to government initiatives for promoting digital transactions, etc. In the forthcoming years, the postal department has decided to convert India Post Payment Bank into a Small Finance Bank (SFB), enabling loan to customers, individuals and SMEs. Leveraging the largest network of postal services, the IPPB could achieve the ambitious goal of providing digitally driven financial services, where no commercial bank can reach.

5.3.3 Fino Payment Bank (FPB) Fino Payment Bank started in 2006 as a Technology company and in 2008, it had launched various Direct Benefit Transfer (DBT) schemes. In 2017, Fino Payment Bank came into existence by leveraging powerful technology for its customer base. The bank has more than 100 million customers in 499 districts across 28 states. The products offered include Savings Account (Shubh, Pratham, Saral, Sanchay) and Current Account. These accounts help the customers to save and grow money. The key features include a Monthly Average Balance requirement, which is nil, earn interest up to 7.25% p.a. (4% up to 1 lakh, 6.25% more than 1 lakh for sweep account & 7.25% from 1 lakh - 10 lakhs), Free RuPay Platinum/Classic Debit Card loaded with exciting offers and benefits, accidental Insurance/Permanent disability cover of up to Rs. 2 lakhs linked with Debit Card, Aadhaar seeding facility to receive LPG subsidy and other benefits directly in one’s account, mobile banking facility, free monthly e-mail statements, etc. The Payments Bank offers Saral Salary Account, which offers organizations a seamless and convenient way to process salaries of their employees. Special doorstep banking facility to provide banking services at the customers’ convenience. Other services of the bank include health insurance with ICICI Lombard, Hospicash Riders, ICICI Lombard Group Health insurance, which helps the customers to take care of the financial burden in case of critical illness, unfortunate death or disability. Further, the bank also arranges business correspondence lending (BC) for arranging microfinance loans from other banks as third party.

Short-term loans ranging from Rs. 18,000 to Rs. 35,000 are provided. Payment of utility bills, recharges, domestic and international transfers, etc., are the other services provided by the bank.

5.3.4 Paytm Payment bank (PPB) In August 2015, the RBI granted the license to PPB to start as payment bank. Officially, the bank was inaugurated in November 2017. The bank offers savings account and current account. The characteristics of the bank includes www.tjprc.org

editor@tjprc.org

42

G. Ramya & Dr. J. Jayasankar

•

No account opening charges

•

No minimum balance requirements

•

Deposits of public are invested in safe government bonds

•

Facility of enjoying physical Rupay debit card or virtual card for online purchase across merchants

•

Earn interest upto 4% and pass book are updated in real time\

•

Highly secure by using Paytm Passcode

•

Get immediate alert for current account transactions

•

Rs.2,00,000 free insurance coverage for death or permanent disability

•

Cash backs and discounts across various merchant outlets

•

Accept money via QR code for instant cash

•

Transfer funds and make payments to any bank across India using NEFT, IMPS, UPI & wallets

•

National Automated Clearing House (earlier ECS) helps to automate recurring payments like EMIs, insurance payments, utility bills etc

•

The transaction charge for ATM is Rs.20 for cash withdrawal and Rs.8 for mini statement, balance enquire etc.

The bank has also partnered with Indusind Bank for providing loan and investment facility to its customers. From the Figure 1 it is clear that Paytm payment Bank Limited has shown tremendous mobile banking transactions followed by Airtel Bank. IPPB and Fino Payment Bank have gradually shown a rising trend.

Figure 1: Mobile Banking Transactions (value in Rs.’000).

Source: NPCI – May 2019.

5.3.5 Jio Payment Bank Limited (JPB) Reliance Industries Limited was granted an approval by RBI under Banking Regulation Act, 1949 incorporated in November 2016 and started operations ons in 2018. The bank has joint venture with SBI and Reliance industries. There is a relief from maintaining minimum balance. The customer is given the benefit of opening an account with any telecom operator and the process of opening digital account is simplified within five minutes with the use of Aadhaar-Based Aadhaar Based E-KYC E for authentication.

Withdrawal is made easy using fingerprint scan, which leads to paperless transaction. The bank has more than 70,000 outlets across India to withdraw cash and the people people who are not comfortable with smart phone can use this facility. There are no Impact Factor (JCC): 6.5424

NAAS Rating: 3.27

A Study on Payment Banks in the Context of Digital Banking

43

penalties for Dormant Account (after 24 months), which offers high interest rates at 6% when compared to other payment banks, attractive offers and discounts when shopping is done at reliance stores. Investment and loan facility is provided by Jio Payment Bank. The bank has partnered with SBI to provide fixed deposit & loan facility to its customers.

5.3.6 NSDL Payment Bank (NSDL) National Securities Depository Ltd., commenced operations as a payment bank with effect from 29.10.2018. These niche banks accept demand deposits, issue ATM cards and also provide bouquet of services to stock brokers, stock exchanges, custodians, issuer companies, etc.

NITI Aayog has stated that India’s digital payment industry is estimated to grow up to $1 Trillion by 2023.

Further, the value of Digital Payments is likely to jump from 10% to over 25% by 2023. The digital transactions of payment banks include RTGS, NEFT, Mobile transactions, Automatic Teller Machine, Point of Sale, etc. From Table-5, it is clear that mobile transactions play a major role in digital inclusion.

Particulars Airtel Payments Bank Limited

Table 5: Transactions of Payment Banks NEFT RTGS Outward Inward Outward Inward

ATM

POS

Mobile

271436

113543

17

8821

0

351.2

28076664

Aditya Birla Idea Payments Bank Ltd

4253

10586

35

408

0

0

180747

India Post Payments Bank Limited

52865

20078

499

230

0

0

721222

Jio Payments Bank Limited Fino Payments Bank Limited

1706 323375

130 81879

49 713

61 2872

0 235055

0 82.9

34036 714180

NSDL Payments Bank Limited

5

13

7849

6223

4

17

5573

Paytm Payments Bank Limited Source: NPCI June 2019.

250842

267609

15

2940

1635373

2594734

108895266

The facility of fund transfer is most preferred, followed by ATM & POS, which are least preferred by the customers of Payment Banks.

6. OPPORTUNITIES AND CHALLENGES OF PAYMENT BANKS 6.1 Opportunities •

Payment Bank is an important tool of financial inclusion by granting facility of opening small savings account, transfer funds of high volume – low value transactions, cross sell insurance and mutual fund products.

•

Investments of payment banks are considered safe and secure.

•

Mobile phone acts as the vehicle of banking to reach mass customers in rural and semi-urban areas.

•

The bank should follow their customer’s behavior in daily activities to provide them the best customized service.

•

To spread awareness on various digital products the bank must also provide a front office human touch interaction.

•

The bank must not ignore the human touch in front office operations to spread various digital products offered by payment banks.

www.tjprc.org

editor@tjprc.org

44

G. Ramya & Dr. J. Jayasankar

•

Foster collaboration and alliance with various service providers to customers through minimum cost, time, quality of service etc.

•

IPPB can act as a game changer by employing efficient infrastructure, attain autonomy in fund management and train postal employees to reach rural masses.

•

IPPB has made an proposal to convert payment bank into Small Finance Bank to provide loan to customers.

6.2 Challenges •

Looking at the dark future of the payment banks, entities namely Cholamandalam Distribution Services, Sun Pharmaceuticals, Tech Mahindra & Aditya Birla Idea Payment Bank have surrendered their licenses back to RBI.

•

Payment banks are allowed to take the deposits, but they aren’t allowed to engage themselves in any kind of a lending activity.

•

Affects the interest of Public sector lenders which in turn increases the cost of banking.

•

Direct attempt to boost private sector banking.

•

Governments BHIM App, UPI and payment wallets provide varied services. Hence any further innovation in these streams will collapse the market of payment banks.

•

The bank makes investment only in government securities which offers lesser returns when compared to mutual funds, insurance etc.

•

Stringent regulations in Know Your Customer norms has made payment banks hard to sustain in the banking space.

•

With the help of PMJDY(2014) 99.7% of Indian households, have already opened their accounts, hence the scheme of covering unbanked populations has narrowed the scope of payment banks.

•

Lack of electricity, internet services, infrastructure etc in rural areas makes payment banks hard to survive.

•

Under India Post Payment Bank, the staffs dealing with banking products like insurance & pension products need extensive training. The real success will depend on the implementation of technology 24*7 and staff’s adaptation to new technology.

•

Severe competition from private companies.

•

Low level of awareness in rural areas might discourage the uninformed groups to opt for formal financial services.

7. LIMITATIONS OF THE STUDY The study is purely based on secondary data which has its own limitations.

8. SUGGESTION The researcher has done a study on the perspective of Payment Banks in the digital context. In future, studies could be done from the customer’s perspective and micro loan disbursement from payment banks.

9. CONCLUSIONS Impact Factor (JCC): 6.5424

NAAS Rating: 3.27

A Study on Payment Banks in the Context of Digital Banking

45

People do not have bank account, but they have smart phone, by considering this advantage, payment banks have entered into banking space. With the help of Telecom operators, Payment Banks are able to provide higher customer engagement round the clock at minimum cost. Such facilities are accessible to the customers at their doorsteps by using the existing infrastructure. Among different payment banks – Paytm and Airtel Banks have larger customer base. Currently, payment banks are facing stringent regulation from RBI to fulfil e-KYC norms. Among 11 banks, only 6 payment banks are in existence. Further, a slight modification in BHIM, UPI & wallets will collapse the structure of payment banks. Hence, to survive in the competitive environment, the bank has to work on the challenges and find out the opportunities to give tough competition to commercial banks.

REFERENCES 1.

Reddy, K. S., & Babu, A. S. (2018). Announcement of Payment Banks and stock performance of commercial Banks in India.

Journal of Internet banking and Commerce, 23(1).

2.

Parmjeetsingh, K. A., Chaudhary, K., Singh, S. & Kumar, A. (2017). A Study on Airtel Payment Bank a step towards Digital India. International Journal of Innovative Studies in Sociology and Humanities. 2(5).

3.

Alsamydai, M. J., Yassen, S. G., ALnaimi, H. M., & Dajani, D. (2014). The factors influencing customer usage of mobile banking services in Jordan. International Journal of Business Management and Research (IJBMR), 4(2), 63-78.

4.

Chandarana, N (2015). Payment Bank – A Need of digital india. Abhinav National Monthly Refereed Journal of Commerce & Management 4(11).

5.

Lohithkumarr, K., Rafi, M. D. & Rabbani, H. J. (2016). Payment Bank in India: New Land Mark in Banking Sector.

Anveshana’s International Journal of Research In Regional Studies, Law, Social Sciences, Journalism And Management Practices 1(10).

6.

Nazimsha, S., & Rajeswari, M. Comparing digital marketing with traditional marketing and consumer preference, over which medium by taking concept of ads.

7.

Garg, A. G. & Kapoor, N. Changing Landscape of Banking system in India : Payment Banks opportunities or challenges. ELK Asia Pacific Journals – Special Issue.

8.

9.

Report on Trend and Progress of Banking in India for the year ended June 30, 2017 Retrived 30 July 2019.

Purohit, S. & Mishra, R. (2017). Payment Bank – A revolutionary step in India for financial inclusion. Prestige International Journal of Management & IT – sanchayan 6(2).

10. Mittal, S., Pant. A. & Bhadaurria. S. S (2017). An Empirical study on customer preference towards Payment Banks over Urban Banks in Delhi NCR. Information Technology & Quantitative Management 122, 463-470.

11. https://www.npci.org.in/statistics 12. https://www.ippbonline.com/ 13. https://economictimes.indiatimes.com 14. https://www.drishtiias.com/to-the-points/paper3/india-post-payment-bank-ippb 15. https://www.thehindubusinessline.com/opinion/columns/slate/all-you-want-to-know-about/article24856746.ece 16. https://www.medianama.com/2019/06/223-rbi-needs-to-constitute-a-committee-to-look-into-the-future-of-payments-banks/ 17. https://www.thehindubusinessline.com/money-and-banking/payment-banks-ask-rbi-to-relax-deposit-cap/article28738891.ece www.tjprc.org

editor@tjprc.org

46

G. Ramya & Dr. J. Jayasankar 18. https://en.wikipedia.org/wiki/National_Securities_Depository_Limited 19. www.medianama.com 20. https://www.jagranjosh.com/current-affairs/comparison-between-india-post-payments-bank-and-post-office-saving-account1536221332-1

AUTHORS PROFILE

Ms. G. Ramya, M.com, M.Phil, NET, SET, is an Assistant Professor in the Post Graduate & Research Department of Commerce, D. G. Vaishnav College, Arumbakkam, Chennai – 106. She has presented 7 papers in various National and International Conferences. She has also participated in various Seminars, FDP, Workshops etc. she has also been examiner for various colleges. She is currently pursuing her doctorate. She has been awarded as JRF from UGC. She has been best paper presenter in various symposiums.

Dr. J. Jayasankar, M.Com. M.Phil. Ph.D, is an Associate Professor & Head, Post Graduate & Research Department of Commerce, D. G. Vaishnav College, Arumbakkam, Chennai – 106. He has authored 9 books which are recommended by various Universities for the B.Com. M.Com. BBA and MBA Degree Courses. He has also guided more than 20 M.Phil.

Research Projects and is guiding 5 Ph.D. Research Scholars at present. He has participated in Seminars and Conferences and presented around 7 research papers. He has written 5 articles in various research journals. He has also attended a couple of workshops. He has prepared course materials for the IDE Courses of the University of Madras. He is the Madras University Nominee for the Board of Studies of Ethiraj College for Women and SDNB Vaishnav College for Women, Chennai. He also participates as the subject expert in the Boards of Studies of Guru Nanak College, RKM Vivekananda College and the SRM University. He has conducted Academic Audit in all these Colleges. He has also been appointed by the University of Madras as Convener of the committee to recommend continuation of provisional affiliation for Commerce Courses in several Colleges. He was appointed by the Management of the Pachayappas’ Trust to conduct interview to recruit lecturers for their group of colleges.

Impact Factor (JCC): 6.5424

NAAS Rating: 3.27