This paper assesses the effect ofidentity management reform, namely the Bank verification number (BVN) policy on fraud prevention in the Nigerian banking industry. Using secondary data obtained from annual reports of Nigerian Deposit Insurance Corporation (NDIC) from 2011 to 2018, the study employed descriptive method to analyze trend in fraud variables before and after introduction of the policy and independent t-test to test the hypotheses in the study. Findings revealed that there was an initial decrease in number of staff involved and total amount involved in fraud in the two years following BVN introduction, but which showed increases thereafter.A similar trend was revealed in various fraud types with internet banking fraud showing significant increases in frequency of cases. The results from the t-tests revealed that theBVN policy had no significant impact on fraud prevention within the period under study. It was recommended that the banking public be educated on the different types of fraud and how to protect their personal details from getting into wrong hands. There is also the need to beef up security by improving on protocols required to carry out bank transactions particularly in the area of internet banking. It was also suggested that all bank account numbers be linked to the National Identity Number (NIN) immediately in line with proposals made by the Federal Government on identity management.
An Impact of Capital Adequacy Ratio on the Profitability of Private Sector Ba...Dr. Amarjeet Singh
Profitability being one of the cardinal principles of bank lending acts as a game changer for the survival and success of private sector banks in India. In order to stay profitable, banks have to capitalise on every penny advanced to yield the expected returns. However, considering the constraints laid down by the Reserve Bank of India, banks have to maintain a minimum capital adequacy ratio, as per the current BASEL III regulations active in India. With the mergers of public sector banks, the challenge has got just tougher for the private sector banks in India. Expansion and Diversification are the key strategies adopted by the key players from the private banking sector, however, with the minimum capital adequacy ratio observed by them, it is necessary to understand its actual impact on the bank’s profitability. This research paper aims to throw light upon the linkage that capital adequacy has with the bank’s profitability. It attempts to establish a relation between the Capital Adequacy Ratio with the Net profits of the bank. For the purpose of this study, data from the past 5 years of the leading private sector banks has been collected, namely, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, AXIS Bank and YES Bank. The collected data has been analysed using Pearson’s Correlation to establish a relation between the CAR Ratio & the bank’s profitability. Hypothesis testing has been further done to study the quantum of proportionate change in the profitability with a change in the CAR Ratio for private sector banks using applicable research tools. The said research tools are applied to achieve the desired results while maintaining the required quantum of accuracy. It also aims to understand the proportionate impact of changes in CAR to the bank’s profitability, which can act as a suggested measure for banks to develop a reliable framework for efficient capital management and increase overall efficiency. The results derived from the data collected and analyzed aim to provide scope for further study on the subject matter.
A Cashless Economy Challenges and Opportunitiesijtsrd
Going cashless not only eases one’s life but also helps authenticate and formalize the transactions that are done. This helps to curb corruption and the flow of black money which results in an increase of economic growth. The expenditure incurred in printing and transportation of currency note is reduced. In a nation like India, cashless transactions are not widespread, and this is due to the technology gap and the lack of proper awareness and education. Though these are the matters of concern, the government or the financial institution need to address them to create a strong cashless economy. Dr. Vidhya Rajagopalan "A Cashless Economy: Challenges & Opportunities" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-2 , February 2021, URL: https://www.ijtsrd.com/papers/ijtsrd38611.pdf Paper Url: https://www.ijtsrd.com/management/accounting-and-finance/38611/a-cashless-economy-challenges-and-opportunities/dr-vidhya-rajagopalan
An Investigation into the Financial Performance of Micro, Small and Medium En...Dr. Amarjeet Singh
Micro, small and medium enterprises (MSMEs) are an indispensable part of the Indian economy. In terms of Gross Value Added (GVA) and Gross Domestic Product (GDP), MSMEs accounted for about 33% and 31% of India's GVA and GDP, respectively, in the year 2019-20. Unlike large enterprises that are concentrated in the metros, MSMEs are spread across smaller and larger rural as well as urban centres of India. They are also the biggest source of employment, especially in rural India, and contribute to the rural development and industrialisation. MSMEs also act as a great social bridge as smaller enterprises are owned by socially backward classes and women than are larger enterprises. For these reasons and more, the India government has always promoted the growth and development of MSMEs through policy initiatives, technology up gradation, and via other means. Consequently, MSMEs have also grown in multi-folds in the past decades in terms of the number of enterprises in operation and the collective revenue of the sector. Several challenges affect the growth of MSMEs, however. One of these is the limited academic studies into the financial performance of MSMEs, probably due to the unavailability of adequate data. The present research attempts to fill this gap by conducting a financial performance evaluation of 51 sample MSMEs based in the district of Nanded, Maharashtra. The research utilizes Data Envelopment Analysis (DEA) to compare the financial performance of sample MSMEs selectively using the suitable variables identified by Arasu et al. (2021). Findings suggest sharp differences in the financial performance of sample units. Inefficient units are suggested to improve their return on asset, return on capital employed, and net profit margin.
GST came to India as a medicine that would treat taxable diseases at one go. It was described by economists as the biggest economic reform after independence. Till the year 2017 indirect tax structure in India was a complex mixture of central taxes and state taxes, here different types of taxes were levied at different stages, which made the tax structure difficult and most of the taxes were not adjusted for this system tax. Increases effect such as taxes on taxes that increase the value of products and services. This economic reform is extremely essential for an emerging economic power like India. Impact of The last deputy speaker from the government, the government and the economy will present its influence in both positive and negative forms. This research of mine will throw light on the study of these two sides. Dr. Sumit Trivedi "Impact of GST on Different Classes" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd42333.pdf Paper URL: https://www.ijtsrd.commanagement/accounting-and-finance/42333/impact-of-gst-on-different-classes/dr-sumit-trivedi
Financial Inclusion and Micro and Small Enterprises GrowthDr. Amarjeet Singh
The persons or firms linked with the either way of
financial transaction are known as participants of financial
inclusion financially included otherwise financially
excluded. The normal way of flow of money is routed
through banking system, post office, insurance and FBFC
channels. The MSE is financially included with operation of
saving account, current account or loan account with banks;
financial transaction with other government financial
agencies as well as some private sector NBFC. Recent
initiatives of Government of India and Indian Banking
system have accelerated the performance of financial
inclusion through various schemes such as MNREGS,
Jandhan, Atal Pension Yojna, MUDRA and so forth. The
MUDRA scheme, credit scheme for MSE, credit scheme for
KVIC & Coir firm, Kishan credit card, General Credit
Card are exclusive financial inclusion scheme for MSE
credit. Out of total size of MSEs, less than forty percent
units are getting benefits from schedule commercial banks;
as on 2017-18 only Rs. 1337 billion credit facilities given by
the lending institutions. The paper examines the current
status and potential prospect of financial inclusion at given
numbers of units and employment.
An Impact of Capital Adequacy Ratio on the Profitability of Private Sector Ba...Dr. Amarjeet Singh
Profitability being one of the cardinal principles of bank lending acts as a game changer for the survival and success of private sector banks in India. In order to stay profitable, banks have to capitalise on every penny advanced to yield the expected returns. However, considering the constraints laid down by the Reserve Bank of India, banks have to maintain a minimum capital adequacy ratio, as per the current BASEL III regulations active in India. With the mergers of public sector banks, the challenge has got just tougher for the private sector banks in India. Expansion and Diversification are the key strategies adopted by the key players from the private banking sector, however, with the minimum capital adequacy ratio observed by them, it is necessary to understand its actual impact on the bank’s profitability. This research paper aims to throw light upon the linkage that capital adequacy has with the bank’s profitability. It attempts to establish a relation between the Capital Adequacy Ratio with the Net profits of the bank. For the purpose of this study, data from the past 5 years of the leading private sector banks has been collected, namely, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, AXIS Bank and YES Bank. The collected data has been analysed using Pearson’s Correlation to establish a relation between the CAR Ratio & the bank’s profitability. Hypothesis testing has been further done to study the quantum of proportionate change in the profitability with a change in the CAR Ratio for private sector banks using applicable research tools. The said research tools are applied to achieve the desired results while maintaining the required quantum of accuracy. It also aims to understand the proportionate impact of changes in CAR to the bank’s profitability, which can act as a suggested measure for banks to develop a reliable framework for efficient capital management and increase overall efficiency. The results derived from the data collected and analyzed aim to provide scope for further study on the subject matter.
A Cashless Economy Challenges and Opportunitiesijtsrd
Going cashless not only eases one’s life but also helps authenticate and formalize the transactions that are done. This helps to curb corruption and the flow of black money which results in an increase of economic growth. The expenditure incurred in printing and transportation of currency note is reduced. In a nation like India, cashless transactions are not widespread, and this is due to the technology gap and the lack of proper awareness and education. Though these are the matters of concern, the government or the financial institution need to address them to create a strong cashless economy. Dr. Vidhya Rajagopalan "A Cashless Economy: Challenges & Opportunities" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-2 , February 2021, URL: https://www.ijtsrd.com/papers/ijtsrd38611.pdf Paper Url: https://www.ijtsrd.com/management/accounting-and-finance/38611/a-cashless-economy-challenges-and-opportunities/dr-vidhya-rajagopalan
An Investigation into the Financial Performance of Micro, Small and Medium En...Dr. Amarjeet Singh
Micro, small and medium enterprises (MSMEs) are an indispensable part of the Indian economy. In terms of Gross Value Added (GVA) and Gross Domestic Product (GDP), MSMEs accounted for about 33% and 31% of India's GVA and GDP, respectively, in the year 2019-20. Unlike large enterprises that are concentrated in the metros, MSMEs are spread across smaller and larger rural as well as urban centres of India. They are also the biggest source of employment, especially in rural India, and contribute to the rural development and industrialisation. MSMEs also act as a great social bridge as smaller enterprises are owned by socially backward classes and women than are larger enterprises. For these reasons and more, the India government has always promoted the growth and development of MSMEs through policy initiatives, technology up gradation, and via other means. Consequently, MSMEs have also grown in multi-folds in the past decades in terms of the number of enterprises in operation and the collective revenue of the sector. Several challenges affect the growth of MSMEs, however. One of these is the limited academic studies into the financial performance of MSMEs, probably due to the unavailability of adequate data. The present research attempts to fill this gap by conducting a financial performance evaluation of 51 sample MSMEs based in the district of Nanded, Maharashtra. The research utilizes Data Envelopment Analysis (DEA) to compare the financial performance of sample MSMEs selectively using the suitable variables identified by Arasu et al. (2021). Findings suggest sharp differences in the financial performance of sample units. Inefficient units are suggested to improve their return on asset, return on capital employed, and net profit margin.
GST came to India as a medicine that would treat taxable diseases at one go. It was described by economists as the biggest economic reform after independence. Till the year 2017 indirect tax structure in India was a complex mixture of central taxes and state taxes, here different types of taxes were levied at different stages, which made the tax structure difficult and most of the taxes were not adjusted for this system tax. Increases effect such as taxes on taxes that increase the value of products and services. This economic reform is extremely essential for an emerging economic power like India. Impact of The last deputy speaker from the government, the government and the economy will present its influence in both positive and negative forms. This research of mine will throw light on the study of these two sides. Dr. Sumit Trivedi "Impact of GST on Different Classes" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd42333.pdf Paper URL: https://www.ijtsrd.commanagement/accounting-and-finance/42333/impact-of-gst-on-different-classes/dr-sumit-trivedi
Financial Inclusion and Micro and Small Enterprises GrowthDr. Amarjeet Singh
The persons or firms linked with the either way of
financial transaction are known as participants of financial
inclusion financially included otherwise financially
excluded. The normal way of flow of money is routed
through banking system, post office, insurance and FBFC
channels. The MSE is financially included with operation of
saving account, current account or loan account with banks;
financial transaction with other government financial
agencies as well as some private sector NBFC. Recent
initiatives of Government of India and Indian Banking
system have accelerated the performance of financial
inclusion through various schemes such as MNREGS,
Jandhan, Atal Pension Yojna, MUDRA and so forth. The
MUDRA scheme, credit scheme for MSE, credit scheme for
KVIC & Coir firm, Kishan credit card, General Credit
Card are exclusive financial inclusion scheme for MSE
credit. Out of total size of MSEs, less than forty percent
units are getting benefits from schedule commercial banks;
as on 2017-18 only Rs. 1337 billion credit facilities given by
the lending institutions. The paper examines the current
status and potential prospect of financial inclusion at given
numbers of units and employment.
Corporate Governance Practices of Indian Public Sector and Private Sector Ban...scmsnoida5
Banks play a major role in providing credit to the
productive sectors of the economy as well as act
as facilitators of financial inclusion and foremost
source of employment. Whereas, the Banking
Sector Acts as catalysts in promoting the growth
of economy, these also possess the capability to
cause calamity to an economy. Well governed
banks have the ability to cope up with risk
associated with them and benefit to the economy.
The present study is an attempt to investigate the
Corporate Governance practices being adopted
by the Indian Public Sector Banks and Private
Sector Banks. For this purpose, two Public Sector
Banks and Private Sector Banks have been
selected taking into account the top banks in the
BSE 100 index ranked on the basis of market
capitalization. In order to study the quality of
Corporate Governance practices of the banks,
an assessment tool – Corporate Governance
Disclosure Index (CGDI) has been developed.
The data has been collected from the annual
reports of the banks from the financial year 2002
to 2014. Further, to investigate the difference in
both the sector banks, student’s t-test has been
applied. The findings of the study reveal that
both the sector banks have significant difference with respect to Board related parameters,
Remuneration Committee sub-index and Non-
Mandatory sub-index.
Predicting Corporate Failure - An Application of Discriminate Analysisscmsnoida5
Corporate failure is a serious problem being
confronted by the corporate world. This issue
has been a subject of intensive research and
discussion by economists, bankers, creditors,
equity shareholders, accountants, marketing
and management experts. The present study
aims at developing a model for prediction
of corporate failure on the basis of financial
ratios. The study is based on the data of
selected firms from chemical industry (with
equal number of failed and non failed firms).
The discriminant analysis has been used to
discriminate between failed and non failed
firms. It is concluded that some of the
financial ratios can significantly differentiate
between failed and non failed firms. The
finding will be useful for the banks and other
financial institutions in designing a suitable
credit appraisal and monitoring system for their
loans. This model could guide the policy makers
to prepare an early warning system to avoid
bankruptcy.
Impact of Web Advertisement on Customers Perception - A Case of Banking Sectorscmsnoida5
Nowadays a lot of innovative services are
offered by the financial service providers to their
customers. The use of more innovation in the
financial sector is the resultant of the day by day
advancement in the technology. Also customer
of today is well aware of the latest technology
and they demand their providers to execute
the technology for business prospective. Target
of all financial service providers’ advertisers
is to reach maximum customers. For this they
utilize every promotional and advertisement
channel so as to reach and inform maximum
public about their products. The purpose of
present study is to determine impact of web
advertisement on customer perception in case of
banking sector. The data will be collected from
200 approx respondents who are aware of the
web advertisements. The collected data will be
put in the Statistical Package for Social Sciences
(SPSS). Afterwards the regression analysis and
correlation analysis will be applied in order to
determine the impact of the web advertisement
on the purchase intention of the customers in
regards to the banking and investment products.
Insider Trading in Capital Market A Legal PerspectiveYogeshIJTSRD
The term insider trading is popularly used in the negative sense as it is perceived that the persons having access to the price sensitive and unpublished information used the same for their personal gains. However insider trading per se does not mean any illegal conduct. It encompasses both legal as well as illegal conduct. Ms. Garima Dhaka Sangwan "Insider Trading in Capital Market: A Legal Perspective" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd43877.pdf Paper URL: https://www.ijtsrd.com/management/law-and-management/43877/insider-trading-in-capital-market-a-legal-perspective/ms-garima-dhaka-sangwan
Changing Issues Related to Declining of Non-Performing Assets in Banksijtsrd
This paper explores an empirical approach to the analysis of Non Performance Assets NPAs of public, private, and foreign sector banks in India. the NPAs are considered as an important parameter to judge the performance and financial health of banks. The level of NPAs is one of the drivers of financial stability and growth of the banking sector. This paper aims to find the fundamental factors which impact NPAs of banks. A model consisting oftivo types of factors, viz., macroeco nomie factors and bank specific parameters, is developed arid the behavior of NPAs of the three categories of banks is observed. The empirical analysis assesses how macroeconomic factors and bank specific parameters affect NPAs of a particular category of banks. The results show that movement in NPAs over the years can be explained well by the factors considered in the model for the public and private sector banks. The other important results derived from the analysis include the finding that banks exposure to priority sector lending educes NPAs. The Impact of competitive culture of public,, private, and foreign sector banks in India with in themselves helpes in declining of NPAs from banks. Dr. Mohan S. Rode "Changing Issues Related to Declining of Non-Performing Assets in Banks" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-1 , December 2019, URL: https://www.ijtsrd.com/papers/ijtsrd29684.pdf Paper URL: https://www.ijtsrd.com/management/other/29684/changing-issues-related-to-declining-of-non-performing-assets-in-banks/dr-mohan-s-rode
Audit Committee Characteristics and Financial Performance of Deposit Money Ba...AkashSharma618775
The purpose of this study was to assess the predictive power of audit committee features on the financial
performance of listed Deposit Money Banks (DMBs) in Nigeria between 2009 and 2018. Thirteen (13) banks were
used over 10 years making a total of 130 firm year observation. The independent variable was audit committee
size, while the dependent variable was DMB financial performance measured by return on capital employed
(ROCE). The study used an ex-post factor research approach to address the research questions and the nature of
the study data. The study used the panel fixed effect approach (and the estimates were obtained using E-views 9).
The results show that audit committee size does not significantly predict ROCE nor does audit committee financial
skill and frequency of audit committee meetings. None of the independent variables have significant predictive
power on the performance of Deposit Money Banks in Nigeria. Thus, instead of DMBs focusing on expanding the
members of Audit committee, they should instead consider other things that can be done to have an effective audit
committee, such as gender, religion, region, ownership, etc that could possibly influence the performance of banks
in Nigeria.
Intellectual capital: A modern model to measure the value creation in a businessAI Publications
Using a sample of 92 patients, this study looked into the impact of intellectual capital on the efficiency of private hospitals. The researchers used a quantitative approach to assess the effect of Intellectual capital (Human capital, Structural capital, and Relational capital) on long-term competitive advantage in private hospitals in Iraq's Kurdistan region. The research sample was selected using a random sampling method and conducted in various locations across Iraq's Kurdistan province. A total of 110 questionnaires were distributed, but only 92 people correctly completed them. The findings revealed that the most effective relationship with firm success was between human capital as an element of Intellectual capital, while the least effective relationship was between ownership as an element of Intellectual capital. Furthermore, our findings indicate that finance managers should use debts as a last resort in terms of intellectual capital. Finally, our research can be improved by using more controlled variables, a greater sample size, and data from a longer time span in the regression models. Other methods and steps can be used as well.
Firm level determinants to small and medium sized enterprises’ access to fina...rrpidani
Firm Level Determinants to Small and Medium-Sized Enterprises’ Access to Financing in Indonesia by Rita Pidani and Ishak Balaka. Academy of Taiwan Business Management Review, April 2013, Volume 9, Number 1, pp. 117-126.
Frauds in Indian Banking: Aspects, Reasons, Trend-Analysis and Suggestive Mea...inventionjournals
Frauds (basis amount of money involved) in Indian banking have seen a rising trend over the last few years. The statement is just basis the cases reported by member banks in India; the unreported figures could be still higher. Against this backdrop and coupled with rising NPAs and more usage of alternate technological modes of baking, it is essential that banks relook at the time and amount of attention that they normally have been giving to frauds and proactive measures to prevent the same. This paper discusses the various aspects of frauds in Indian banking system. It evaluates the statistics involved with fraud basis secondary data available from reliable sources and also analyses the same. Each of the types namely KYC related, loan related and technological aspects are discussed in details along with the reasons. At the end, some suggestions are placed for banks to practice.
Corporate Governance Practices of Indian Public Sector and Private Sector Ban...scmsnoida5
Banks play a major role in providing credit to the
productive sectors of the economy as well as act
as facilitators of financial inclusion and foremost
source of employment. Whereas, the Banking
Sector Acts as catalysts in promoting the growth
of economy, these also possess the capability to
cause calamity to an economy. Well governed
banks have the ability to cope up with risk
associated with them and benefit to the economy.
The present study is an attempt to investigate the
Corporate Governance practices being adopted
by the Indian Public Sector Banks and Private
Sector Banks. For this purpose, two Public Sector
Banks and Private Sector Banks have been
selected taking into account the top banks in the
BSE 100 index ranked on the basis of market
capitalization. In order to study the quality of
Corporate Governance practices of the banks,
an assessment tool – Corporate Governance
Disclosure Index (CGDI) has been developed.
The data has been collected from the annual
reports of the banks from the financial year 2002
to 2014. Further, to investigate the difference in
both the sector banks, student’s t-test has been
applied. The findings of the study reveal that
both the sector banks have significant difference with respect to Board related parameters,
Remuneration Committee sub-index and Non-
Mandatory sub-index.
Predicting Corporate Failure - An Application of Discriminate Analysisscmsnoida5
Corporate failure is a serious problem being
confronted by the corporate world. This issue
has been a subject of intensive research and
discussion by economists, bankers, creditors,
equity shareholders, accountants, marketing
and management experts. The present study
aims at developing a model for prediction
of corporate failure on the basis of financial
ratios. The study is based on the data of
selected firms from chemical industry (with
equal number of failed and non failed firms).
The discriminant analysis has been used to
discriminate between failed and non failed
firms. It is concluded that some of the
financial ratios can significantly differentiate
between failed and non failed firms. The
finding will be useful for the banks and other
financial institutions in designing a suitable
credit appraisal and monitoring system for their
loans. This model could guide the policy makers
to prepare an early warning system to avoid
bankruptcy.
Impact of Web Advertisement on Customers Perception - A Case of Banking Sectorscmsnoida5
Nowadays a lot of innovative services are
offered by the financial service providers to their
customers. The use of more innovation in the
financial sector is the resultant of the day by day
advancement in the technology. Also customer
of today is well aware of the latest technology
and they demand their providers to execute
the technology for business prospective. Target
of all financial service providers’ advertisers
is to reach maximum customers. For this they
utilize every promotional and advertisement
channel so as to reach and inform maximum
public about their products. The purpose of
present study is to determine impact of web
advertisement on customer perception in case of
banking sector. The data will be collected from
200 approx respondents who are aware of the
web advertisements. The collected data will be
put in the Statistical Package for Social Sciences
(SPSS). Afterwards the regression analysis and
correlation analysis will be applied in order to
determine the impact of the web advertisement
on the purchase intention of the customers in
regards to the banking and investment products.
Insider Trading in Capital Market A Legal PerspectiveYogeshIJTSRD
The term insider trading is popularly used in the negative sense as it is perceived that the persons having access to the price sensitive and unpublished information used the same for their personal gains. However insider trading per se does not mean any illegal conduct. It encompasses both legal as well as illegal conduct. Ms. Garima Dhaka Sangwan "Insider Trading in Capital Market: A Legal Perspective" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd43877.pdf Paper URL: https://www.ijtsrd.com/management/law-and-management/43877/insider-trading-in-capital-market-a-legal-perspective/ms-garima-dhaka-sangwan
Changing Issues Related to Declining of Non-Performing Assets in Banksijtsrd
This paper explores an empirical approach to the analysis of Non Performance Assets NPAs of public, private, and foreign sector banks in India. the NPAs are considered as an important parameter to judge the performance and financial health of banks. The level of NPAs is one of the drivers of financial stability and growth of the banking sector. This paper aims to find the fundamental factors which impact NPAs of banks. A model consisting oftivo types of factors, viz., macroeco nomie factors and bank specific parameters, is developed arid the behavior of NPAs of the three categories of banks is observed. The empirical analysis assesses how macroeconomic factors and bank specific parameters affect NPAs of a particular category of banks. The results show that movement in NPAs over the years can be explained well by the factors considered in the model for the public and private sector banks. The other important results derived from the analysis include the finding that banks exposure to priority sector lending educes NPAs. The Impact of competitive culture of public,, private, and foreign sector banks in India with in themselves helpes in declining of NPAs from banks. Dr. Mohan S. Rode "Changing Issues Related to Declining of Non-Performing Assets in Banks" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-1 , December 2019, URL: https://www.ijtsrd.com/papers/ijtsrd29684.pdf Paper URL: https://www.ijtsrd.com/management/other/29684/changing-issues-related-to-declining-of-non-performing-assets-in-banks/dr-mohan-s-rode
Audit Committee Characteristics and Financial Performance of Deposit Money Ba...AkashSharma618775
The purpose of this study was to assess the predictive power of audit committee features on the financial
performance of listed Deposit Money Banks (DMBs) in Nigeria between 2009 and 2018. Thirteen (13) banks were
used over 10 years making a total of 130 firm year observation. The independent variable was audit committee
size, while the dependent variable was DMB financial performance measured by return on capital employed
(ROCE). The study used an ex-post factor research approach to address the research questions and the nature of
the study data. The study used the panel fixed effect approach (and the estimates were obtained using E-views 9).
The results show that audit committee size does not significantly predict ROCE nor does audit committee financial
skill and frequency of audit committee meetings. None of the independent variables have significant predictive
power on the performance of Deposit Money Banks in Nigeria. Thus, instead of DMBs focusing on expanding the
members of Audit committee, they should instead consider other things that can be done to have an effective audit
committee, such as gender, religion, region, ownership, etc that could possibly influence the performance of banks
in Nigeria.
Intellectual capital: A modern model to measure the value creation in a businessAI Publications
Using a sample of 92 patients, this study looked into the impact of intellectual capital on the efficiency of private hospitals. The researchers used a quantitative approach to assess the effect of Intellectual capital (Human capital, Structural capital, and Relational capital) on long-term competitive advantage in private hospitals in Iraq's Kurdistan region. The research sample was selected using a random sampling method and conducted in various locations across Iraq's Kurdistan province. A total of 110 questionnaires were distributed, but only 92 people correctly completed them. The findings revealed that the most effective relationship with firm success was between human capital as an element of Intellectual capital, while the least effective relationship was between ownership as an element of Intellectual capital. Furthermore, our findings indicate that finance managers should use debts as a last resort in terms of intellectual capital. Finally, our research can be improved by using more controlled variables, a greater sample size, and data from a longer time span in the regression models. Other methods and steps can be used as well.
Firm level determinants to small and medium sized enterprises’ access to fina...rrpidani
Firm Level Determinants to Small and Medium-Sized Enterprises’ Access to Financing in Indonesia by Rita Pidani and Ishak Balaka. Academy of Taiwan Business Management Review, April 2013, Volume 9, Number 1, pp. 117-126.
Frauds in Indian Banking: Aspects, Reasons, Trend-Analysis and Suggestive Mea...inventionjournals
Frauds (basis amount of money involved) in Indian banking have seen a rising trend over the last few years. The statement is just basis the cases reported by member banks in India; the unreported figures could be still higher. Against this backdrop and coupled with rising NPAs and more usage of alternate technological modes of baking, it is essential that banks relook at the time and amount of attention that they normally have been giving to frauds and proactive measures to prevent the same. This paper discusses the various aspects of frauds in Indian banking system. It evaluates the statistics involved with fraud basis secondary data available from reliable sources and also analyses the same. Each of the types namely KYC related, loan related and technological aspects are discussed in details along with the reasons. At the end, some suggestions are placed for banks to practice.
Effect of Financial Innovation on the Performance of Deposit Money Banks in N...ijtsrd
This study centres on financial innovation and performance of deposit money banks in Nigeria. The main objective is to ascertain the effect of financial innovation on the performance of deposit money banks in Nigeria. The specific objectives are to evaluate the effect of automated teller machine, point of sale, web internet transfer and mobility of payment on the performance of deposit money banks in Nigeria proxied by the value of commercial bank deposits in Nigeria. The data employed were secondary data obtained from the Central Bank of Nigeria Statistical Bulletin for the period 2009 2020. This study employed ordinary least square OLS method of estimation to establish the effect of the independent variables on the dependent variable. The OLS is the most efficient method because of the ’’Best Linear Unbiased Estimator’’ BLUE properties. The analysis revealed that point of sale, payment mobility, automated teller machine and web internet had positive effect on the performance of deposit money banks in Nigeria for the period under study. This depicts that financial innovation helps in increasing profitability and return on assets of deposit money banks in Nigeria. Therefore, the study recommends among others that the government should put in place proper monetary and fiscal policies in order to promote financial innovations in Nigeria as the investigations in this study have proved to engender performance of deposit money banks in Nigeria. Chigozie Camillus Ibe | Dr. Chinedu Blessing-Mike Obialor "Effect of Financial Innovation on the Performance of Deposit Money Banks in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-6 , October 2022, URL: https://www.ijtsrd.com/papers/ijtsrd52040.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/52040/effect-of-financial-innovation-on-the-performance-of-deposit-money-banks-in-nigeria/chigozie-camillus-ibe
The pandemic has left an indelible mark on the banking industry, catalyzing a rapid shift towards digital transformation the way banks operate. This transformation has brought about both challenges and opportunities, prompting experts to offer nuanced opinions on the impact of increased online services and its ripple effects on traditional and digital banking.
Customers Perceived Risk and the Adoption of Electronic Banking in South East...ijtsrd
This research examined the relationship between perceived risk and the adoption of electronic banking in south east Nigeria. Specifically, the study addressed the relationship between the seven dimensions of perceived risk financial risk, performance risk, social risk, physical risk privacy risk, time risk and psychological risk and the adoption of electronic banking in the south eastern region of Nigeria. The study adopted a descriptive survey research design in collecting data questionnaire and personal interviews were used in collecting primary data while documentary sources were used for secondary data. The population of the study was made up of electronic banking users in the five States of the south east region of Nigeria. Since the populate is an infinite population, the Cochran general accepted formula for determining sample size for an infinite population was employed to determine the sample size of four hundred and ninety 490 electronic banking users. Descriptive statistics were employed to check the behaviour of the data and to ready the data for inferential statistics analysis. Some of the statistics were mean and standard deviation minimum, maximum, skewness and kurtosis. The data was analysed and hypotheses tested using the Structural Equation Model SEM and with aid of WarpPLS 6.0 software. Findings from the study showed that perceived risks in its seven dimension studied, has a significant relationship with the adoption of E banking in Nigeria and thus recommended that Managers of financial institutions should to develop workable plans to eliminate the negative effect of perceived risk, by increasing acceptance of risk which could be done by offering training or simulations to customers to facilitate their use of internet banking. Chibike O. Nwuba | Rev. Prof. Anayo Dominic Nkamnebe "Customers Perceived Risk and the Adoption of Electronic Banking in South-East Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-4 , June 2020, URL: https://www.ijtsrd.com/papers/ijtsrd31206.pdf Paper Url :https://www.ijtsrd.com/management/marketing/31206/customers-perceived-risk-and-the-adoption-of-electronic-banking-in-southeast-nigeria/chibike-o-nwuba
The Effect of Electronic Banking on the Operations of Deposit Money Banks in ...ijtsrd
The main aim of this study was to examine the effect of electronic banking on the operational performance of deposit money banks in Nigeria. Specifically, it sought to determine the effect of automated teller machine transactions, electronic mobile banking transactions, point of sale terminals transactions on the operational performance of deposit money banks in Nigeria. The study adopted the ex post facto research design and covered the period from 2006 to 2020. Ordinary least square regression and Granger Causality tool was used for the analysis of the data obtained. The results of the study reveal that automated teller machine transactions have positive and significant effect on the operational performance of Deposit money banks in Nigeria while both point of sale terminal transaction and mobile banking transactions have negative and insignificant effects on the operational performance of Deposit money banks in Nigeria. The study recommends that Deposit money banks and monetary authorities should sensitize the banking public on the proper use of electronic banking transactions to lessen the frequent cases of errors, fraud and malfunction. Osakwe Charity Ifunanya | Ezeaku Chisom Njideka "The Effect of Electronic Banking on the Operations of Deposit Money Banks in Nigeria (2006-2020)" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-4 , June 2022, URL: https://www.ijtsrd.com/papers/ijtsrd50220.pdf Paper URL: https://www.ijtsrd.com/management/accounting-and-finance/50220/the-effect-of-electronic-banking-on-the-operations-of-deposit-money-banks-in-nigeria-20062020/osakwe-charity-ifunanya
Machine learning algorithms analyze vast datasets to detect patterns, helping financial institutions and best payment processors identify potential risks and opportunities. To know more about this visit: https://webpays.com/payment-processing-companies.html
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Total Ionization Cross Sections due to Electron Impact of Ammonia from Thresh...Dr. Amarjeet Singh
In the present paper, we have employed modified Khare-BEB method [Atoms, (2019)] to evaluate total ionization cross sections by the electron impact for ammonia in energy range from the ionization threshold to 10 MeV. The theoretical ionization cross sections have been compared to the available previous theoretical and experimental results. The collision parameters dipole matrix squared M_j^2 and CRP also have been calculated. The present calculations were found in remarkable agreement with the available experimental results.
A Case Study on Small Town Big Player – Enjay IT Solutions Ltd., BhiladDr. Amarjeet Singh
Adequately trained Manpower is a problem that affects the IT industry as a whole, but it is particularly acute for Enjay IT Solution. Enjay's location in a semi-urban or rural area makes it even more difficult to find a talented employee with the right skills. As the competition for skilled workers grows, it becomes more difficult to attract and keep those workers who have the requisite training and experience.
Effect of Biopesticide from the Stems of Gossypium Arboreum on Pink Bollworm ...Dr. Amarjeet Singh
Pink bollworm and Lepidoptera development quickly in numbers which is a typical animal group that produces around 100 youthful ones inside certain days or weeks. This assault influences the harvests broadly in the tropical and sub-tropical temperature areas. Thus, to keep up with the yield of harvests the vermin ought to be kept away by utilizing pesticides. The unnecessary measure of the purpose of pesticides influences the dirt, land, and as well as human well-being, and contaminates the climate. Thus, an ozone-accommodating biopesticide is extracted from the stems of the Gossypium arboreum. Thus, the extraction of biopesticide from the stems of Gossypium arboreum demonstrated that the quantity of pink bollworm and Lepidoptera is diminished step by step in the wake of showering the arrangement on the impacted region of the plant because of the presence of the gossypol.
Artificial Intelligence Techniques in E-Commerce: The Possibility of Exploiti...Dr. Amarjeet Singh
E-Commerce has transformed business as we know over the past few decades. The rapid increasing use of the Internet and the strong purchasing power in Saudi Arabia have had a strong impact on the evolution of E-Commerce in the country. Saudi Arabia is yet another country that will release artificial intelligence power to fuel its growth in the economic world. Recently, artificial intelligence (AI) applications that can facilitate e-commerce processes have been widely used. The impact of using artificial intelligence (AI) concepts and techniques on the efficiency of e-commerce, particularly has been overlooked by many prior studies. In this paper, a literature review was conducted to explore and investigate possible applications of AI in E-Commerce that can help Saudi Arabian businesses.
Factors Influencing Ownership Pattern and its Impact on Corporate Performance...Dr. Amarjeet Singh
This study on factors influencing Ownership pattern and its impact on corporate performance has used five industries data viz Automobile industry, IT industry, Banking industry, Oil & Gas industry and pharmaceutical industry for five years from 2017 to 2021. First the factors influencing ownership pattern was identified and later its impact on corporate performance was analysed. Multiple Regression, ANOVA and Correlation was used in SPSS 28. Percentage of independent directors on the board and size of the company has significant impact on Indian Promotor holding and non-institutional ownership has significant impact on corporate performance.
An Analytical Study on Ratios Influencing Profitability of Selected Indian Au...Dr. Amarjeet Singh
Every country with a well-developed transportation network has a well-developed economy. The automobile industry is a critical engine of the nation's economic development. The automobile industry has significant backward and forward links with every area of the economy, as well as a strong and progressive multiplier impact. The automotive industry and the auto component industry are both included in the vehicle industry. It includes passenger waggons, light, medium, and heavy commercial vehicles, as well as multi-utility vehicles such as jeeps, three-wheelers, military vehicles, motorcycles, tractors, and auto-components such as engine parts, batteries, drive transmission parts, electrical, suspension and chassis parts, and body and other parts. In the last several years, India's automobile sector has seen incredible growth in sales, production, innovation, and exports. India's car industry has emerged as one of the best in the world, and the auto-ancillary sector is poised to assist the vehicle sector's expansion. Vehicle manufacturers and auto-parts manufacturers account for a significant component of global motorised manufacturing. Vehicle manufacturers from across the world are keeping a close eye on the Indian auto sector in order to assess future demand and establish India as a global manufacturing base. The current research focuses on three automotive behemoths: TATA Motors, MRF, and Mahindra & Mahindra.
A Study on Factors Influencing the Financial Performance Analysis Selected Pr...Dr. Amarjeet Singh
The growth of a country's banking sector has a significant impact on its economic development. The banking sector plays a critical role in determining a country's economic future. A well-planned, structured, efficient, and viable banking system is an essential component of an economy's economic and social infrastructure. In modern society, a strong banking system is required because it meets the financial needs of the modern society. In a country's economy, the banking system plays a crucial role. Because it connects surplus and deficit economic agents, the bank is the most important financial intermediary in the economy. The banking system is regarded as the economy's lifeline. It meets the financial needs of commerce, industry, and agriculture. As a result, the country's development and the banking system are intertwined. They are critical in the mobilisation of savings and the distribution of credit to various sectors of the economy. India's private sector banks play a critical role in the country's economic development. So The financial performance of private sector banks must be evaluated carefully.
An Empirical Analysis of Financial Performance of Selected Oil Exploration an...Dr. Amarjeet Singh
After the United States, China, and Japan, India was the world's fourth biggest consumer of oil and petroleum products. The nation is significantly reliant on crude oil imports, the majority of which come from the Middle East. The Indian oil and gas business is one of the country's six main sectors, with important forward links to the rest of the economy. More than two-thirds of the country's overall primary energy demands are met by the oil and gas industry. The industry has played a key role in placing India on the global map. India is now the world's sixth biggest crude oil user and ninth largest crude oil importer. In addition, the country's portion of the worldwide refining market is growing. India's refining industry is now the world's sixth biggest. With plans for Reliance Petroleum Limited to commission another refinery with a capacity of 29 MTPA next 16 to its 33 MTPA refinery in Jamnagar, Gujarat, this position is projected to be enhanced. As a consequence, the Reliance refinery would be the biggest single-site refinery in the world. Based on secondary data gathered from CMIE, the current research examines the ratios influencing the profitability of selected oil exploration and production businesses in India during a 10-year period.
Since 1991, thanks to economic policy liberalization, the Indian economy has entered an era in which Indian businesses can no longer disregard global markets. Prior to the 1990s, the prices of a variety of commodities, metals, and other assets were carefully regulated. Others, which were not rolled, were primarily dependant on regulated input costs. As a result, there was no uncertainty and, as a result, no price fluctuations. However, in 1991, when the process of deregulation began, the prices of most items were deregulated. It has also resulted in the exchange being partially deregulated, easing trade restrictions, lowering interest rates, and making significant advancements in foreign institutional investors' access to the capital markets, as well as establishing market-based government securities pricing, among other things. Furthermore, portfolio and securities price volatility and instability were influenced by market-determined exchange rates and interest rates. As a result, hedging strategies employing a variety of derivatives were exposed to a variety of risks. The Indian capital market will be examined in this study, with a focus on derivatives.
Theoretical Estimation of CO2 Compression and Transport Costs for an hypothet...Dr. Amarjeet Singh
SEI S.p.a. presented a project to build a 1320 MW coal-fired power plant in Saline Joniche, on the Southern tip of Calabria Region, Italy, in 2008. A gross early evaluation about the possibility to add CCS (CO2 Capture & Storage) was performed too. The project generated widespread opposition among environmental associations, citizens and local institutions in that period, against the coal use to produce energy, as a consequence of its GHG clima-alterating impact. Moreover the CCS (also named Carbon Capture & Storage or more recently CCUS: Carbon Capture-Usage-Storage) technology was at that time still an unknown and “mysterious” solution for the GHG avoiding to the atmosphere. The present study concerns the sizing of the compression and transportation system of the CCS section, included in the project presented at the time by SEI Spa; the sizing of the compression station and the pipeline connecting the plant to the possible Fosca01 offshore injection site previously studied as a possible storage solution, as part of a coarse screening of CO2 storage sites in the Calabria Region. This study takes into account the costs of construction, operation and maintenance (O&M) of both the compression plant and the sound pipeline, considering the gross static storage capacity of the Fosca01 reservoir as a whole as previously evaluated.
Analytical Mechanics of Magnetic Particles Suspended in Magnetorheological FluidDr. Amarjeet Singh
In this paper, the behavior of MR particles has been systematically investigated within the scope of analytical mechanics. . A magnetorheological fluid belongs to a class of smart materials. In magnetorheological fluids, the motion of magnetic particles is controlled by the action of internal and external forces. This paper presents analytical mechanics for the interaction of system of particles in MR fluid. In this paper, basic principles of Analytical Mechanics are utilized for the construction of equations.
Techno-Economic Aspects of Solid Food Wastes into Bio-ManureDr. Amarjeet Singh
Solid waste is health hazard and cause damage to the environment due to improper handling. Solid waste comprises of Industrial Waste (IW), Hazardous Waste (HW), Municipal Solid Waste (MSW), Electronic waste (E-waste), Bio-Medical Waste (BMW) which depend on their supply & characteristics. Food waste or Bio-waste composting and its role in sustainable development is explained in food waste is a growing area of concern with many costs to our community in terms of waste collection, disposal and greenhouse gases. When rotting food ends up in landfill it turns into methane, a greenhouse gas that is particularly damaging to the environment. Composting is biochemical process in which organic materials are biologically degraded, resulting in the production of organic by products and energy in the form of heat. Heat is trapped within the composting mass, leading to the phenomenon of self-heating. This overall process provide us Bio-Manure.
Crypto-Currencies: Can Investors Rely on them as Investment Avenue?Dr. Amarjeet Singh
The purpose of this study is to examine investors’ perceptions about investing in crypto-currencies. We think that investors trust in crypto-currencies is largely driven by crypto-currency comprehension, trust in government, and transaction speed. This is the first study to examine crypto-currencies from the investor’s perspective. Following that, we discover important antecedents of crypto-currency confidence. Second, we look at the government's role in crypto-currencies. The importance of this study is: first, crypto-currencies have the potential to disrupt the current economic system as the debate is all about impact of decentralization of transactions; thus, further research into how it affects investors trust is essential; and second, access to crypto-currencies. Finally, if Fin-Tech companies or banks want to enter the bitcoin industry may not attract huge advertising costs as well as marketing to soothe clients' concerns about investing in various digital currencies The research sheds light on indecisiveness in the context of marketing aspects adopted by demonstrating investors are aware about the crypto.
Awareness of Disaster Risk Reduction (DRR) among Student of the Catanduanes S...Dr. Amarjeet Singh
The Island Province of Catanduanes is prone to all types of natural hazards that includes torrential and heavy rains, strong winds and surge, flooding and landslide or slope failures as a result of its geographical location and topography. RA 10121 mandates local DRRM bodies to “encourage community, specifically the youth, participation in disaster risk reduction and management activities, such as organizing quick response groups, particularly in identified disaster-prone areas, as well as the inclusion of disaster risk reduction and management programs as part of youth programs and projects. The study aims to determine the awareness to disaster of the student of the Catanduanes State University. The disaster-based questionnaire was prepared and distributed among 636 students selected randomly from different Colleges and Laboratory Schools in the University
The Catanduanes State University students understood some disaster-related concepts and ideas, but uncertain on issues on preparedness, adaptation, and awareness on the risks inflicted by these natural hazards. Low perception on disaster risks are evidently observed among students. The responses of the students could be based on the efficiency and impact of the integration of DRR education in the senior high school curriculum. Specifically, integration of the concepts about the hazards, hazard maps, disaster preparedness, awareness, mitigation, prevention, adaptation, and resiliency in the science curriculum possibly affect the knowledge and understanding of students on DRR. Preparedness drills and other forms of capacity building must be done to improve awareness of the student towards DRRM.
The study further recommends that teachers and instructor must also be capacitated in handling disaster as they are the prime movers in the implementation of the DRRM in education. Preparedness drills and other forms of capacity building must be done to improve awareness of the student towards DRRM. Core subjects in Earth Sciences must be reinforced with geologic hazards. Learning competencies must also be focused on hazard identification and mapping, and coping with different geologic disaster.
The 1857 war was a watershed moment in the history of the Indian subcontinent. The battle has sparked academic debate among historians and sociologists all around the world. Despite the fact that it has been more than 150 years, this battle continues to pique the interest of historians. The war's causes and events that occurred throughout the conflict, persons who backed the British and anti-British fighters, and the results and ramifications, are all aspects of this conflict. In terms of outcomes, many academics believe that the war was a failure for those who started it. It is often assumed that the Indians who battled the British in this conflict were unable to achieve their goals. Many gains accrued to Indians as a result of the conflict, but these achievements are overshadowed by the dispute over the war's failure. This research effort focuses on the war's achievements for India, and the significance of those achievements.
Haryana's Honour Killings: A Social and Legal Point of ViewDr. Amarjeet Singh
Life is unpredictably unpredictable. Nobody knows what will happen in the next minute of their lives. In this circumstance, every human being has the right and desire to conduct their lives according to their own desires. No one should be forced to live a life solely for the benefit and reputation of others. Honour killing is defined as the assassination of a person, whether male or female, who refuses to accept the family's arranged marriage or decides to move her or his marital life according to her or his wishes solely because it jeopardizes the family's honour. The family's supreme authority looks after the family's name but neglects to consider the love and affection shared among family members. I have discussed honour killing in India in my research work. This sort of murder occurs as a result of particular triggers, which are also examined in relation to the role of the law in honour killing. No one can be released free if they break the law, and in this case, it is a felony that violates various regulations designed to safeguard citizens. This crime is similar to many others, but it is distinct enough to be differentiated in the report. When the husband is of low social standing, it lowers the position and caste of the female family, prompting the male family members to murder the girl. But they forget that the girl is their kid and that while rank may be attained, a girl's life can never be replaced, and that caste is less valuable than the girl's life and love spent with them.
Optimization of Digital-Based MSME E-Commerce: Challenges and Opportunities i...Dr. Amarjeet Singh
The impact caused by the Covid-19 Pandemic on Micro and Small and Medium Enterprises (MSMEs) was so severe and fatal
that not a few went out of business. The heavy burden is borne by MSME actors due to social restrictions imposed by the
government, the declining purchasing power of the people, a product that continues to decline until capital runs out. Plus
inadequate knowledge in carrying out marketing strategies and product innovations are the main trigger for the lack of
enthusiasm for MSME actors as well as bankruptcy. MSME digitalization-based e-commerce is an opportunity and the right
solution in dealing with the obstacles caused by the impact of Covid-19, as well as a challenge for MSME actors to design old
ways in new ways through digital business.
Modal Space Controller for Hydraulically Driven Six Degree of Freedom Paralle...Dr. Amarjeet Singh
This paper presents the Modal space decoupled control for a hydraulically driven parallel mechanism has been presented. The approach is based on singular values decomposition to the properties of joint-space inverse mass matrix, and mapping of the control and feedback variables from the joint space to the decoupling modal space. The method transformed highly coupled six-input six-output dynamics into six independent single-input single-output (SISO) 1 DOF hydraulically driven mechanical systems. The novelty in this method is that the signals including control errors, control outputs and pressure feedbacks are transformed into decoupled modal space and also the proportional gains and dynamic pressure feedback are tuned in modal space. The results indicate that the conventional controller can only attenuate the resonance peaks of the lower eigenfrequencies of six rigid modes properly, and the peaking points of other relative higher eigenfrequencies are over damped, The further results show that it is very effective to design and tune the system in modal space and that the bandwidth increased substantially except surge (x) and sway (y) motions, each degree of freedom can be almost tuned independently and their bandwidths can be increased near to the undamped eigenfrequencies.
It is a known fact that a large number of Steel Industry Expansion projects in India have been delayed due to regulatory clearances, environmental issues and problems pertaining to land acquisition. Also, there are challenges in the tendering phase that affect viability of projects thus delaying implementation, construction phase is beset with over-runs and disputes and last but not the least; provider skills are weak all across the value chain. Given the critical role of Steel Sector in ensuring a sustained growth trajectory for India, it is imperative that we identify the core issues affecting completion of infrastructure projects in India and chalk out initiatives that need to be acted upon in short term as well as long term.
A blockchain is a decentralised database that is shared across computer network nodes. A blockchain acts as a database, storing information in a digital format. The study primarily aims to explore how in the future, block chain technology will alter several areas of the Indian economy. The current study aims to obtain a deeper understanding of blockchain technology's idea and implementation in India, as well as the technology's potential as a disruptive financial technological innovation.
Secondary sources such as reports, journals, papers, and websites were used to compile all the data. Current and relevant information were utilised to help understand the research goals. All the information is rationally organised to fulfil the objectives. The current research focuses on recommendations for enhancing India's Blockchain ecosystem so that it may become one of the best in the world at utilising this new technology.
Senior Project and Engineering Leader Jim Smith.pdfJim Smith
I am a Project and Engineering Leader with extensive experience as a Business Operations Leader, Technical Project Manager, Engineering Manager and Operations Experience for Domestic and International companies such as Electrolux, Carrier, and Deutz. I have developed new products using Stage Gate development/MS Project/JIRA, for the pro-duction of Medical Equipment, Large Commercial Refrigeration Systems, Appliances, HVAC, and Diesel engines.
My experience includes:
Managed customized engineered refrigeration system projects with high voltage power panels from quote to ship, coordinating actions between electrical engineering, mechanical design and application engineering, purchasing, production, test, quality assurance and field installation. Managed projects $25k to $1M per project; 4-8 per month. (Hussmann refrigeration)
Successfully developed the $15-20M yearly corporate capital strategy for manufacturing, with the Executive Team and key stakeholders. Created project scope and specifications, business case, ROI, managed project plans with key personnel for nine consumer product manufacturing and distribution sites; to support the company’s strategic sales plan.
Over 15 years of experience managing and developing cost improvement projects with key Stakeholders, site Manufacturing Engineers, Mechanical Engineers, Maintenance, and facility support personnel to optimize pro-duction operations, safety, EHS, and new product development. (BioLab, Deutz, Caire)
Experience working as a Technical Manager developing new products with chemical engineers and packaging engineers to enhance and reduce the cost of retail products. I have led the activities of multiple engineering groups with diverse backgrounds.
Great experience managing the product development of products which utilize complex electrical controls, high voltage power panels, product testing, and commissioning.
Created project scope, business case, ROI for multiple capital projects to support electrotechnical assembly and CPG goods. Identified project cost, risk, success criteria, and performed equipment qualifications. (Carrier, Electrolux, Biolab, Price, Hussmann)
Created detailed projects plans using MS Project, Gant charts in excel, and updated new product development in Jira for stakeholders and project team members including critical path.
Great knowledge of ISO9001, NFPA, OSHA regulations.
User level knowledge of MRP/SAP, MS Project, Powerpoint, Visio, Mastercontrol, JIRA, Power BI and Tableau.
I appreciate your consideration, and look forward to discussing this role with you, and how I can lead your company’s growth and profitability. I can be contacted via LinkedIn via phone or E Mail.
Jim Smith
678-993-7195
jimsmith30024@gmail.com
Oprah Winfrey: A Leader in Media, Philanthropy, and Empowerment | CIO Women M...CIOWomenMagazine
This person is none other than Oprah Winfrey, a highly influential figure whose impact extends beyond television. This article will delve into the remarkable life and lasting legacy of Oprah. Her story serves as a reminder of the importance of perseverance, compassion, and firm determination.
Artificial intelligence (AI) offers new opportunities to radically reinvent the way we do business. This study explores how CEOs and top decision makers around the world are responding to the transformative potential of AI.
The case study discusses the potential of drone delivery and the challenges that need to be addressed before it becomes widespread.
Key takeaways:
Drone delivery is in its early stages: Amazon's trial in the UK demonstrates the potential for faster deliveries, but it's still limited by regulations and technology.
Regulations are a major hurdle: Safety concerns around drone collisions with airplanes and people have led to restrictions on flight height and location.
Other challenges exist: Who will use drone delivery the most? Is it cost-effective compared to traditional delivery trucks?
Discussion questions:
Managerial challenges: Integrating drones requires planning for new infrastructure, training staff, and navigating regulations. There are also marketing and recruitment considerations specific to this technology.
External forces vary by country: Regulations, consumer acceptance, and infrastructure all differ between countries.
Demographics matter: Younger generations might be more receptive to drone delivery, while older populations might have concerns.
Stakeholders for Amazon: Customers, regulators, aviation authorities, and competitors are all stakeholders. Regulators likely hold the greatest influence as they determine the feasibility of drone delivery.
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Identity Management Reform and Fraud Prevention in the Nigerian Banking Industry
1. International Journal of Engineering and Management Research e-ISSN: 2250-0758 | p-ISSN: 2394-6962
Volume-11, Issue-5 (October 2021)
www.ijemr.net https://doi.org/10.31033/ijemr.11.5.3
14 This Work is under Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Identity Management Reform and Fraud Prevention in the Nigerian
Banking Industry
Ikeobi, Nneka Rosemary (PhD)1
and Ayeni, Akintunde Olawande (PhD)2
1
Faculty of Management Sciences, Department of Actuarial Science, University of Jos, Plateau State, NIGERIA
2
Faculty of Management Sciences, Department of Banking and Finance, University of Jos, Plateau State, NIGERIA
1
Corresponding Author: nikeobi2002@yahoo.com
ABSTRACT
This paper assesses the effect ofidentity
management reform, namely the Bank verification number
(BVN) policy on fraud prevention in the Nigerian banking
industry. Using secondary data obtained from annual reports
of Nigerian Deposit Insurance Corporation (NDIC) from
2011 to 2018, the study employed descriptive method to
analyze trend in fraud variables before and after introduction
of the policy and independent t-test to test the hypotheses in
the study. Findings revealed that there was an initial decrease
in number of staff involved and total amount involved in
fraud in the two years following BVN introduction, but which
showed increases thereafter.A similar trend was revealed in
various fraud types with internet banking fraud showing
significant increases in frequency of cases. The results from
the t-tests revealed that theBVN policy had no significant
impact on fraud prevention within the period under study. It
was recommended that the banking public be educated on the
different types of fraud and how to protect their personal
details from getting into wrong hands. There is also the need
to beef up security by improving on protocols required to
carry out bank transactions particularly in the area of
internet banking. It was also suggested that all bank account
numbers be linked to the National Identity Number (NIN)
immediately in line with proposals made by the Federal
Government on identity management.
Keywords-- Banking Industry, Identity Management, Bank
Verification Number, Fraud Prevention
I. INTRODUCTION
The banking sector is a very important and
integral part of a country’s financial system and is
primarily responsible for mobilizing funds from surplus
units and channeling same to the deficit units for the
financing of productive investment. Banks as financial
intermediaries are expected to serve as avenue for people
to save that part of income that has not been expended on
consumption. From the accumulated savings they are
expected to extend credit to entrepreneurs and other
businesses. In this way, banks support and promote
efficient allocation of resources in an economy. It follows,
therefore that financial stability and sustainable economic
growth can be achieved only in the presence of a robust
and healthy banking sector.
In recent times there have been increasing reports
of fraud in the banking industry which has been
exacerbated by increase in the use of technology.In line
with this, fraudsters have also upped their game to meet
with the technological changes. Furthermore, the growth of
online banking presents increased opportunities for
perpetrators of cybercrimes as frauds can be carried out
using wire transfers or account take-overs. NDIC (2018)
attributes this rising fraud incidences to the increase in
sophistication of fraud-related techniques such as hacking
and cybercrime among others .Identity thieves have been
known to carry out online banking through identity take-
over of accounts, thus raising concerns over the safety and
soundness of financial institutions.
Bank-related frauds have been accompanied by
cybercrimes involving millions of dollars. Bank fraud
erodes confidence and trust among investorsand can also
lead to crises in the banking sector. Similarly,financial
crime and other fraud has the capacity to destabilize global
economies through its ability to steal increasingly large
sums of money and change the path of history as fraudsters
manipulate events for their own means. Griffin (2018)
reports the case of a middle manager and a subordinate in
India’s Punjab National Bank who had quietly executed a
fraud over seven years stealing some 1.8 billion dollars. He
notes that the biggest factor here is technology and the
opportunities that it presents fraudsters to steal cash and
other assets. He points out that technology has two sides
though as it can be highly effective in preventing and
detecting fraud, but that government, businesses and
individuals must be able to keep up with fraudsters.
Moreover, Igweike (2008) points out that bank frauds have
the capacity of weakening intermediation functions
(mobilization and allocation of funds) if trust, confidence,
soundness and prudence are retracted with resultant effect
on capital creation in the economy.
Fraud affects the operational efficiency of
banking institutions, limits profitability, erodes the
confidence placed in the banking system and diminishes
the soundness of the financial system (Dagogo&Ngerebo-
a, 2018). The vulnerability of the financial sector makes it
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the most regulated sector of the economy. Despite the
strict regulation of the financial sector, incidences of
fraudulent practices appear to be on the increase and more
sophisticated with the introduction of electronic banking
(e-banking). This emergence of a revolutionized payment
system in the country not only quickened the pace of
financial transactions, it also opened up more windows for
fraudsters who are bent on keeping pace with development
initiatives to perpetrate their fraudulent activities on
accounts of their victims. Very disturbing also, is the
positive relationship between the adoption of e-banking
and the incidence of fraud, as Nigeria Deposit Insurance
Corporation (NDIC)reported that internet and technology-
based sources of fraud accounted for 59.2% of fraud cases
and 42.83% of the actual total loss suffered in the banking
sector in 2018.
The Nigerian Deposit Insurance Corporation
(NDIC) annual report showed that the number of reported
cases of attempted frauds and forgeries in the nation’s
banking industry witnessed a substantial increase to 26,182
cases in 2017, which was an increase of 56.30% over the
16,751 cases reported in 2016. The frauds and forgeries
cases reported in 2017 also showed a 146.50% and
113.20% increase over reported cases in 2014 and 2015
respectively (NDIC, 2017). In 2018, a total of 37,817 fraud
cases were reported representing an increase of 44.42%.
Similarly, the amount involved increased by over 224% to
₦38.93 billion in 2018 from ₦12.01 billion in 2017. The
rising fraud incidences were attributed to increase in
sophistication of fraud related techniques such as hacking,
cybercrime as well as increase in information technology-
related products and usage. From these figures, the
incidence of fraud in the banking sector appears not to be
dwindling.
In recognition of this rising menace and
increasing incidence of compromise on conventional
security systems in the banking sector, such as Personal
Identification Number (PIN) and the use of passwords,
which were used to check financial fraud, the Federal
government, through the Central Bank of Nigeria (CBN),
saw the need for identity management reform to curb the
incidence of fraud, particularly those involving identity
theft in the financial sector. To improve on the security of
depositors’ funds and putting checks on identity theft
therefore, the CBN came up with the Bank verification
number (BVN) policy.
The Central Bank of Nigeria (CBN) in
collaboration with the Bankers’ Committee launched the
BVN Project on February 14, 2014, as a unique identifier
for all bank customers. The key objective of the BVN
initiative is to authenticate a customer of financial
institutions using a unique identifier across the industry.
The BVN enables one person to have a single identity
within the financial system irrespective of the number of
accounts within multiple banks. The purpose of the project
is to use biometric information as a means of first
identifying and verifying all individuals that have
account(s) in any Nigerian bank and consequently, as a
means of authenticating customers’ identity at point of
transactions.
The BVN involves identifying an individual
based on physiological or behavioural attributes such as
fingerprints, signatures, facial features and others. The
BVN provides account holders with a unique number that
enables the account holder to have a single identity in the
same banking system. The benefits expected from the
BVN policy include reduced exposure to fraud, checking
identity theft, enhancement of the effectiveness of Know
Your Customer (KYC), and promotion of a safe and sound
financial system, among others, in Nigeria (CBN, 2017a).
The BVN will help the banking system identify customers
who have been black-listed by one bank, who also move to
other banks perpetrating such fraudulent activity. Also,
because it captures physical features, it is very helpful for
people who cannot read and write, thereby making sure
that everyone is included in the financial system (Nelson,
2015).
A total of 23,030,269 bank customers had been
registered in the BVN central database as at 31st
December, 2015. Also, 28,303,332 accounts had been
linked to the BVN out of 55,316,040 customer accounts
(CBN, 2015). Implementation of the framework for BVN
operation and Watch-list continued and by 31st
December
2018, a total of 36,170,176 customers had been registered
under the scheme, with 49,318,972 accounts out of 71,214,
706 active accounts linked with BVN (CBN, 2018).
Security of depositors’ funds is of utmost
importance in banking as it would ensure confidence in the
system. Confidence in the banking sector means that the
populace will continue to patronize the banks and so make
their function as financial intermediaries seamless.
Consequently, the need for a developing country like
Nigeria to increase in its capacity not only to mobilize
funds efficiently, but also channel same effectively to
achieve higher levels of industrialization and development
cannot be overemphasized. Since bank frauds have the
capacity not only to erode confidence and trust, but also
weaken intermediation functions in the banking sector, it
goes without saying that everything possible should be
done to ensure that the banking sector functions efficiently
and effectively.
The introduction of the BVN policy as an identity
management reform is a relatively recent initiative and so
this study sets out to examine whether the reform has any
effect on fraud prevention since its introduction in
2014.The specific objectives are to determine the impact of
the BVN on the type of fraud and forgeries in the deposit
money banks, on the number of reported fraud cases, on
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the number of staff involved in fraud and on the total
amount involved in fraud cases. The findings would be
beneficial for the Nigerian banking sector development by
proffering recommendations to aid policy making.
II. REVIEW OF RELATED
LITERATURE
2.1 Theoretical Literature
Fraud has been defined by several authors in
different ways. According to Adewumi (1986) fraud is a
conscious premeditated action of a person or group of
persons with the intention of altering the truth and or fact
for selfish personal monetary gain. He expatiates that it
involves the use of deceit and trick and sometimes highly
intelligent cunning and know-how and that the action
usually takes the form of forgery, falsification of
documents and authorizing signatures and an outright
theft. According to Nwankwo (1991) as cited in Owolabi
(2010), fraud occurs when a person in a position of trust
and responsibility, in defiance of norms, breaks the rule to
advance his personal interests at the expense of the public
interest, which he has been entrusted to guard and
promote. Awe (2005) sees fraud as the intentional
alteration of records accompanied by the defalcation of
asset in order to deceive certain groups of people for the
benefit of the perpetrator. Fraud has also been defined as
any illegal act characterized by deceit, concealment or
violation of trust, which may not depend on the application
of threat of violence or physical force, and is an antithesis
of trust, good faith, fidelity and fiduciary (Palmay& Di
Lorenzo, cited in Dagogo & Ngerebo-a, 2018). From these
various definitions, it can be seen that fraud is a deliberate
act with the intent to deceive and ultimately obtaining
benefit to the detriment of some other person.
Banking fraud takes many forms and so is not
easily classified, although Nwanze (2006), opines that
bank fraud can be classed as executive and other frauds.
This classification is not clear-cut as Olojo (as cited in
Owolabi, 2010) described bank fraud as consisting of
syndicated fraud, corporate fraud, executive fraud, internal
fraud, external fraud, internal/external fraud, computer
fraud, electricity failure aided fraud, good boy and good
girl syndrome aided fraud, rotten leadership aided fraud,
slow judicial aided fraud and survival politics induced
fraud. Owolabi (2010) in his submission on major frauds
and forgeries in the banking industry identifies them to
include: presentation of forged cheques and dividend
warrants; granting of unauthorized loans; posting of
fictitious credits; suppression of cheques and defalcating;
fraudulent transfers and withdrawals; loss of money to
armed robbers and outright theft of money. From the
foregoing, bank fraud ultimately leads to loss of money
which belongs to either the bank or customers.
Dagogo and Ngerebo-a (2018) identified three
known theories of fraud as follows: Theory of Differential
opportunity, Concealment theory and theory of Deviations.
Differential opportunity theory states that people have the
opportunity to commit fraud against their employees,
suppliers, customers, third parties and government
departments. Access to accounts, assets, premises and
computer systems, skill required to identify and utilize
opportunity and available time to plan and execute the
fraud enable such opportunity. Concealment theory
explains the introduction of confusion during and after the
act in order to conceal the act. This involves the
manipulation of accounting record or misrepresentation of
a physical, personal or commercial reality intended to hide,
disguise, or alter an account or inventory before, during
and after a fraudulent act. In theory of deviation,
perpetrators conceal their dishonesty as plausible breaches
of rules or procedures. It is a deviation from a normal
procedure and perpetrators are usually limited to the
available opportunities and also concentrate on ways to
conceal their guilt. Deviations from accepted procedures
are generally the first symptoms of fraud.
2.2 Empirical Literature
A number of empirical studies have shown the
negative effects of fraud on the Nigerian economy. Okoye
and Gbegi (2013) using secondary data and regression
analysis showed that fraud and related financial crimes
have significant negative effect on the Nigerian economy.
Udeh and Ugwu (2018) examined fraud in the Nigerian
banking sector. They employed data relating to fraud, bank
profits, bank assets and bank deposits for the period 2006
to 2015. Using descriptive analysis and ordinary least
squares (OLS) method of regression analysis, they found
that fraud has negative but insignificant relationship with
bank profit.
Dagogo and Ngerebo-a (2018) investigated bank
fraud and financial intermediation. They formulated three
multiple regression models to estimate the values of the
dependent variables and the coefficients of the independent
variables. Using three different measures of financial
intermediation as dependent variables, and unauthorized
loans, theft and robbery and fraudulent withdrawals as
proxies for bank fraud, they found that bank fraud had no
significant effect on financial intermediation. They
however warned that the incidence of fraud cannot be
overlooked and that it is a signal for intermediaries and
regulators to be alive to their responsibilities.
Adetiloye, Olokoyo and Taiwo (2016) examined
fraud prevention and internal control in the Nigerian
Banking system using primary and secondary data. Using
regression analysis, they showed that internal control on its
own is effective against fraud, but not all bank workers are
committed to it.
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Anyim (2018) investigated fraud control
measures in the Nigerian banking sector. He adopted the
survey research design using selected commercial banks in
South-east of Nigeria. Employing primary and secondary
data sources, he found that various fraud control measures
were used to reduce fraud in Nigerian commercial banks.
He reported that the introduction of BVN has helped to
control fraud in Nigerian banks, but that many fraudulent
bank workers were deliberately frustrating successful
implementation of the BVN introduction by the CBN.
Akinadewo and Akinkoye (2019) analyzed trend
of frauds in the Nigerian Deposit Money Banks from 2005
to 2018 and the perceptions of the stakeholders on the
devised mechanisms to manage the effects of frauds in
DMBs. They used primary data from a structured
questionnaire administered on 50 senior bank staff from 10
banks and secondary data obtained from NDIC annual
reports. Their analysis revealed that fraud cases and the
value of frauds in the Nigerian banking industry have been
on the increase particularly at the emergence of e-banking
even as the respondents agreed to the effectiveness of the
devices and strategies employed to reduce and minimize
fraud occurrence. They however stressed the need for more
enlightenment of bank customers on safe handling of
security details, timely and effective prosecution of
fraudsters, compliance with and the enforcement of
relevant Fraud Prevention Acts and the strengthening of
the internal control units of banks among other things.
Akyuz, Wuyep and Opusunju (2019) examined
the impact of Bank Verification Number on corrupt
practices in the United Bank for Africa branches in Abuja,
Nigeria. They adopted a survey research design by
employing primary data collected with the aid of a
questionnaire administered to bank staff. They found that
implementation of BVN has helped in monitoring banking
transfers and transactions and preventing money
laundering.
From the literature surveyed, very little had been
done on the impact of BVN policy on fraud prevention in
Nigeria. The few studies carried out on BVN used mainly
primary data targeted at bank staff who expressed their
subjective opinion on their perceptions about the impact of
the policy in banking operations. The present studywas
therefore designed to contribute to literature in this area by
going a step further by employing secondary data to
examine the impact of the BVN on fraud prevention.
III. METHODOLOGY
To study aims at providing empirical evidence on
the impact of the Bank Verification Number (BVN) on
fraud prevention in the Nigerianbanking sector.Secondary
data used for the analysis were obtained from NDIC
Annual reports.The secondary dataincludedtypes of fraud
and forgeries, number of reported fraud cases, number of
staff involved in fraud and total amount involved in fraud
in Deposit Money Banks (DMBs) in Nigeriaforthe period
2011- 2018. The study examined the trend in the variables
using the descriptive method of analysis and also
employed the Independent t-test to determine if there are
statistically significant differences between the means of
the variables before (2012-2014) and after (2015-2017) the
introduction of the BVN policy in the banking sector.
The null hypothesis for the independent t-test is
that the population means from two unrelated groups are
equal:
H0: μ1 = μ2
The test was carried out using the statistical
software SPSS. The following hypotheses were tested at
the 5% level of significance;
Hypothesis 1: BVN has no significant impact on the type
of fraud in Deposit Money Banks in Nigeria.
Hypothesis 2: BVN has no significant impact on the
number of reported fraud cases in Deposit Money Banks in
Nigeria.
Hypothesis 3: BVN has no significant impact on the
number of staff involved in fraud in Deposit Money Banks
in Nigeria.
Hypothesis 4: BVN has no significant effect on the total
amount involved in fraud in Deposit Money Banks in
Nigeria.
IV. RESULTS AND DISCUSSIONS
The findings on the frequency of fraud types are
presented in Table 1.
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Table 1: Frequency of Fraud types in Nigeria Deposit Money banks
Year ATM/card
fraud
Fraudulent
transfer/
withdrawal of
deposit
Suppression of
customers’
deposit
Web-based
(Internet
banking fraud)
Fraudulent
conversion
of cheques
Presentation
of stolen
cheques
2012 1,539 342 224 314 219 196
2013 1,739 394 324 316 219 196
2014 7181 1099 483 1277 138 59
2015 8039 1396 602 1471 71 132
2016 11,244 836 357 3689 48 17
2017 16,396 963 279 7869 101 18
2018 10,063 6,980 3,918 12,343 501 112
Source: NDIC Annual Reports
From Table 1, it can be seen that apart from
fraudulent conversion of cheques which showed decreases
immediately after BVN introduction in 2015 and 2016, and
presentation of stolen cheques which also decreased in
2016 and 2017 all other fraud types witnessed increases in
2015.In 2016, there was a drop in cases of fraudulent
transfers and suppression of customers’ deposits. However
in 2017, apart from suppression of customers’ deposit
which showed a decrease in frequency, all other fraud
types witnessed increases. However by 2018, apart from
ATM/card related fraud, all other fraud types recorded
increase in frequency of cases.Notable from the table is
incidence of web-based (internet banking) which was on
an upward trend both before and after the introduction of
the BVN. From these findings, BVN appears to have had
an initial positive effect in reducing incidences of some
fraud cases, notably those which involve physical presence
but does not appear to have the same effect in internet
banking. This is an indication that the BVNhas not been
able to deter internet fraudsters.
Table 2 shows the actual amount involved in the
various fraud types before and after theintroduction of the
BVN policy.
Table 2: Actual Amount involved in various Fraud types in Nigerian Deposit Money banks (₦’Billions)
Year ATM/card
fraud
Fraudulent
transfer/
withdrawal of
deposit
Suppression of
customers’
deposit
Web-based
(Internet
banking fraud)
Fraudulent
conversion
of cheques
Presentation
of stolen
cheques
2012 0.082 1.162 0.282 0.712 0.388 0.011
2013 0.585 1.162 0.482 1.683 0.388 0.120
2014 1.242 0.583 0.312 3.196 0.088 0.054
2015 0.504 0.502 0.218 0.857 0.049 0.054
2016 0.476 0.626 0.224 0.582 0.002 0.014
2017 0.798 0.318 0.116 0.709 0.021 0.011
2018 2.64 1.930 0.960 3.850 1.080 0.324
Source: NDIC Annual Reports
From Table 2, apart from presentation of stolen
cheques which remained unchanged, all other fraud types
witnessed decreases in actual amount involved in fraud
immediately after introduction of BVN in 2015. By 2016,
apart from fraudulent transfer/withdrawals and suppression
of customers’ deposit which witnessed slight
increases,there were further decreases in actual amount
involved in the other fraud types. In 2017, ATM/card
related fraud, internet and fraudulent conversion of stolen
cheques witnessed increases in actual amount involved,
while other fraud types continued to decline. However by
2018, all fraud types recorded significant increases in
actual amount involved in fraud. This is similar to the
findings in frequency if incidence of various fraud types.
Although there was an initial reduction in actual amount
involved in most of the fraud types, subsequent increases
across board in 2018 indicates that fraudsters have upped
their game. Web-based (internet banking) fraud showed a
similar trend as seen in Table 1 recording an increase of
over 440% in actual amount involved.
Table 3 shows the number of reported fraud
cases, number of staff involved and total amount involved
in fraud in Nigerian banks from 2011 to 2018.
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Table 3: Number of Cases, Staff involvement and Total Amount involved in Fraud in Nigerian Banks
Year No. of reported fraud cases in
DMBs
No. of staff involved in fraud Total amount involved in
fraud
(₦’Millions)
2011 2,352 498 28,400
2012 3,380 531 18,045
2013 3,786 682 21,795
2014 10,612 465 25,608
2015 12,279 425 18,021
2016 16,751 231 8,633
2017 26,182 320 12,012
2018 37,817 899 38,926
Source: NDIC Annual Reports
From Table 3, there was an upward trend in the
number of reported fraud cases before and after the
introduction of the BVN policy. There was an initial
decrease in staff involvement and total amount involved in
fraud in the two years (2015 and 2016)following the
introduction of the policy. This was then followed by
significant increases in 2017 and 2018. The BVN policy
does not appear to have deterred fraudsters from operating
in the banking industry.
The results from the Independent t-test analysis
are presented in Table 4 and Table 5. Table 4 shows the
summary of independent t-test result for actual amount
involved in the various fraud types.
Table 4: Summary of Independent t-test Result for Actual Amount involved in various Fraud Types
Fraud Type Levene’s Test for Equality
of Variances
t-Test for Equality of Means
F Sig. T Df Sig. (2-tailed)
ATM Fraud Equal variances
assumed
2.191 .213 .124 4 .907
Equal variances not
assumed
.124 2.373 .911
Fraudulent
Transfer of
Deposit
Equal variances
assumed
3.552 .133 2.289 4 .084
Equal variances not
assumed
2.289 2.822 .112
Suppression of
Customers’
Deposit
Equal variances
assumed
1.986 .232 2.416 4 .073
Equal variances not
assumed
2.416 3.151 .090
Internet Banking
Fraud
Equal variances
assumed
4.861 .092 1.578 4 .190
Equal variances not
assumed
1.578 2.048 .252
Fraudulent
Conversion of
Cheques
Equal variances
assumed
11.748 .027 2.616 4 .059
Equal variances not
assumed
2.616 2.075 .116
Presentation of
Stolen Cheques
Equal variances
assumed
1.545 .282 1.021 4 .365
Equal variances not
assumed
1.021 2.738 .389
Source: SPSS 23 OUTPUT
The results in Table 4 are used to test hypothesis
1 as follows:
Hypothesis 1: BVN has no significant impact on the type
of fraud in Deposit Money Banks in Nigeria.
Based on the independent t-test result in Table 1
for fraud type, there is no statistically significant difference
at 5% level of significance (p < 0.05) between the means
in the amount involved before introduction of BVN and
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after the introduction of BVN. We fail to reject hypothesis
1 since the p-value for the various fraud types are higher
than .05. We conclude that the introduction of BVN has
notsignificantly reduced any of the fraud types or forgeries
in DMBs in Nigeria.
Table 5 shows the summary of the independent t-
test results for number of reported cases, number of staff
involved and total amount involved in fraud in DMBs in
Nigeria used to test Hypotheses 2, 3 and 4.
Table 5: Summary of Independent t-test Result for Number of Reported Cases, Number of Staff involved and Total Amount
involved in Fraud in Deposit Money Banks
Levene’s Test for
Equality of
Variances
t-Test for Equality of Means
F Sig. T Df Sig. (2-tailed)
Number of Reported
Fraud Cases in Deposit
Money Banks
Equal variances
assumed
1.070 .359 -2.643 4 .057
Equal variances not
assumed
-2.643 3.184 .073
Number of Bank Staff
involved in Fraud
Equal variances
assumed
.137 .730 2.745 4 .052
Equal variances not
assumed
2.745 3.928 .053
Total Amount involved
in Fraud
Equal variances
assumed
1.245 .646 2.545 4 .064
Equal variances not
assumed
2.545 3.807 .067
Source: SPSS 23 OUTPUT
Hypothesis 2: BVN has no significant impact on the
number of reported fraud cases in Deposit Money Banks in
Nigeria.
For hypothesis 2 at 5% significance level, the
independent t-test result for equality of means (equal
variances assumed) shows that the means in the number of
reported fraud cases in DMBs before and after the
introduction of BVN are not statistically significant (t(4) =
-2.643, p = 0.057). Thus, we fail to reject the hypothesis
that BVN has no significant impact on the number of
reported fraud cases in Deposit Money Banks in Nigeria.
We can then conclude that the BVN policy has not
significantly reduced the number of fraud cases in the
Nigerian banking industry.
Hypothesis 3: BVN has no significant impact on the
number of staff involved in fraud in Deposit Money Banks
in Nigeria.
In the third hypothesis, the t-test for equality of
means (equal variances assumed) shows that t (4) = 2.745,
p = .052. We fail to reject the hypothesis that BVN has no
significant impact on the number of staff involved in fraud
in Deposit Money Banks since p-value is more than 0.05.
We then conclude that the introduction of BVN policy has
not significantly reduced the number of bank staff
involved in fraud in the Nigerian banking industry.
Hypothesis 4: BVN has no significant effect on the total
amount involved in fraud in Deposit Money Banks in
Nigeria.
For hypothesis 4, the result of the t-test for
equality of means (equal variances assumed) shows that
t(4) = 2.545, p = .064. We fail to reject the hypothesis
(since p-value is more than .05) that BVN has no
significant effect on the total amount involved in fraud in
Deposit Money Banks in Nigeria. We conclude therefore
that BVN has not significantly reduced the total amount
involved in fraud in the Nigerian banking industry.
All four hypotheses tested at 5% level of
significance showed that the introduction of the BVN
policy has not significantly reduced the incidence of fraud
in the Nigerian banking industry.Rather variables in the
study mostly showed an upward trend in the incidence of
fraud over time. The findings agree with those of
Akinadewo and Akinkoye (2019) who reported increase in
both number of reported fraud cases and also the value of
frauds of frauds in the Nigerian banking industry
especially with the emergence of e-banking. This also is in
agreement with NDIC (2018) which attributed the rising
fraud incidences to the increase in sophistication of fraud-
related techniques such as hacking, cybercrime as well as
increase in information technology-related products and
usage, fraudulent withdrawals and unauthorized credit.
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The results however disagree with that of Anyim (2018)
who reported that the introduction of BVN has helped
control fraud in Nigeria.
V. CONCLUSION /
RECOMMENDATIONS
In this study, an attempt was made to examine the
impact of identity management reform, specifically, the
Bank Verification Number (BVN) policy introduced by the
CBN on fraud prevention in the Nigerian banking
sector.The findings of this research work have provided
empirical evidence that although the introduction of the
BVN policy as an identity management initiative has the
potential to impact fraud incidence in the Nigerian banking
sector, it did not result in fraud preventionwithin the period
under study. We can safely conclude that the BVN policy
has not impacted positively on fraud prevention in the
Nigerian banking industry.
Based on the findings of the study, the following
recommendations have been made towards ensuring that
the BVN policy can enhance identity management and
thus play a role in the prevention of fraud in the Nigerian
banking sector.
1. There is need to improve on the security protocols
required, particularly during web-based on-line banking to
reduce internet fraud. The CBN in collaboration with other
stakeholders can do this by further coming up with
initiatives that will strengthen the existing protocols. The
additional linking of all bank account numbers to the
National Identity Number (NIN) proposed by the Federal
Government to enhance identity management in the
country should be fast-tracked.
2. Policies which will encourage banks to enhance proper
use of biometrics embedded in the BVN should be put in
place by the CBN.
3. To reduce staff involvement in fraud, Banks should be
compelled to have more permanent staff rather than
temporary staff in their employ. CBN as regulator should
ensure better corporate governance in the banking sector
by being more vigilant in their supervisory and monitoring
roles.
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