Comparison Between The Indian And New Zealand Banking System

Legal Framework

Banking started at ancient times, when model type merchants use to give loans to the framers and to the exporters who carried the products to different cities. This event was named as barter system.  The beginning of contemporary banking started from the medieval times. In the 17^th century banking notes were emerged. In the traditional sense banking means a trend of taking deposits of money from the citizen. These deposits are used as lending and investment by the banks for the growth of economy. These deposits are done according to the distinct and appropriate features of withdrawable by a slip called cheque. This is a unique system that no other financial institution offers. An economy reflects the minor mirror of banking.( Acharya et al. 2013). It is the most essential component of the world for its growth in the economy. The key of success is banking for any country moving towards development. Bank and economy is unified to each other. Banks are the important financial institution as they support economy in creating and channelizing the flow of money. Banking is the helping hand for the citizen who are depositors for banks to secure their money. The deposited money acts as a supply chain of capital for the citizens establishing business in the economy and enhancing employment. Banks are regulated worldwide.

In the nation to get it support and make stability in the monetary institution there is banking structure nationally and internationally. The monetary institution that supports the economy in being stabilized now days. In the globe of banking and investment nothing stands still. The chief revolutionize of everyone is in the, range of the trade of banking. Banking in its customary form is concerned with the approval of money deposited by the citizen in their respective accounts, as deposits are lender to seekers. Apart from customary trade, banks in today`s time offer a ample series of services to please the customers’ needs though the need it be monetary or non- monetary. The series of military accessible depends on bank type and size. (Lee and Choi 2013).

Indian Banking System

Business related to banking and fiscal services are monitored by the Banking Regulation Act 1949. The act gives power to Reserve Bank of India regarding the issues of regulations, guidelines, rules and direction on a broad variety of problems related to monetary and banking sector. RBI is the primary and central bank of India.

Regulatory authorities

Regulatory authority sets norms, give license and guidelines for banks even for those branches that are out of India. They even set norms for the products and services given by the bank. They also look after the debt management for the government and currencies are also managed by the authority.

There sub divisions for regulating the different monetary sector in India. These are:

• Insolvency and Bankruptcy Board of India (IBBI) that regulates the development connecting to conductbankruptcy procedures under the Insolvency and Bankruptcy Code (IBC).
• Securities Exchange Board of India (SEBI) that is the regulatory power for the securities market in India.
• Insurance Regulatory and Development Authority of India (IRDAI) that regulates the insurance sector.

The Ministry of Finance deals in legislating and supervising upon the functions of banks and financial institutions. Acting all the way through its Department of Financial Services, it:

• Monitoring the operations that isrelated in banking.
• Lay down the guidelines of sound operating system and functions of public sector banks.

Role of international standards

It is mandatory from April 2013 to implement Basel III capital regulations. This is to ensure sound transactions to meet the minimum requirement of Basel III capital ratios. The RBI has previously unconfined guidelines on preservation and calculation of liquidity ratio, the RBI has in recent times issued strategy on Net Stable Funding Ratio (NSFR) which is based on concluding rules on NSFR available by the Basel Committee. The NSFR should be equivalent to at least 100% on a continuing basis. Though, the NSFR would be supplemented by decision-making appraisal of the steady financial support and liquidity risk figure of a bank. On the basis of such assessment, the RBI may require a person bank to accept more rigorous standards. The obligation to preserve 100% NSFR would be compulsory on banks with effect from a date which will be communicated by the RBI in due route.

The cash reserve ratio (CRR) is utmost important for every bank to maintain with RBI. It is average day to day balance that every bank maintains as a part of the total demand and time liabilities deposits (NDTL). Current rate is 4% the statutory liquidity ratio (SLR) is also important for every bank to maintain in order to safeguard itself from the crisis impact. It should also maintain liquid assets in way of gold, cash and government securities. SLR rate is 19.5% at present.

New Zealand has a two way approach towards banking regulations with a different prudential and conduct regulator. The Reserve Bank of New Zealand Act 1989 (RBNZ Act) is the type portion of legislation surroundings out the powers of Reserve Bank of New Zealand (RBNZ) as New Zealand’s canny regulator. The RBNZ Act regulates with bank registration and enables the RBNZ to:

• Lay conditions for process of registration
• Outsourcing facts from the banks
• Managing bank failure

The Financial Markets Conduct Act 2013 (FMCA) has the rules for conducting financial and in fastidious of giving licensing for issuing derivatives, one who is operating in market and different investment schemes managers.

Other authorities

Reserve Bank of New Zealand (RBNZ) is the primary regulators of banks in New Zealand that got established by the Reserve Bank of New Zealand Act 1989.  In New Zealand RBNZ act as a canny regulator and regulates all aspects that come under the bank’s commerce. RBNZ does not have a statutory objective to protect its depositors rather its statutory objective is managing banking business. In New Zealand the Financial Market Authority (FMA) deals in all the financial matters of the country. (Ball et al.2013).

The council of Financial Regulators consists of:

• Financial Markets Authority (FMA)
• Ministry of Business, Innovation and Employment
• New Zealand Treasury.
• Reserve Bank of New Zealand (RBNZ).

The Reserve Bank of New Zealand (RBNZ) has incorporated the major components of the Basel Committee on Banking Supervision Basel III Capital Accords (Basel III) in New Zealand by updating its capital adequacy and liquidity standards in the Banking Supervision Handbook to replicate the Basel III necessities. Locally incorporated banks have been compulsory to comply with the least amount capital ratios from January 2013. The capital conservation cushion came into effect in New Zealand on January 2014, as did the Reserve Bank’s power to locate a countercyclical shock absorber.

The Reserve Bank of New Zealand’s (RBNZ) Liquidity Policy comprising BS13 and BS13A of the Banking Supervision Handbook introduced in April 2010 in response to the global financial crisis. The Liquidity Policy has four main apparatus:

• Publicly disclosing the requirement of some information about liquidity risk and about their management by the banks.
• Standing orders on risk management.
• Regular updating of the liquidity position of the banks

ANZ Bank:

In Australia ANZ is among the largest company who has attended the majority of hold in international banking sector and monetary team. This is known amongst the big four banks of Australia. In 1970 ANZ bank was established leading a merger with English, Scottish and Australian Bank Limited (ES&A). After this merger Australia and New Zealand Banking Group Limited was established. The team sustained to cultivate, regardless of the pay for the first and foremost Indian-based Grind lays Bank, which submit an evidence of a not as much of ideal commerce robust and the cluster deprived itself in year 1999. 16088 people were employees of ANZ Bank and it had 807 branches in Australia by the end of 1999. In the year 1970 among the lead the way banks of Australia it combined with the networks of SWIFT. The idea of electronic services of banking started in 1997 but Internet banking was launched in April 1999. Subsequently, it had a joint venture agreement with ERG and Telstra. This joint venture was done to form a smart card association that followed an additional planned association with E*Trade Australia. This association was to develop a foremost online stock market trading. From the tactical perspective, it can be seen that ANZ has been taking a very practical move toward, with cooperative ventures, association, and ventures into online banking for trading to linger cutthroat. It has also incorporated its army, to tender the buyer a ‘one stop’ atmosphere. Customer Relationship Management (CRM) -nearly everyone touted ready for action tool of banks in attendance. At present, ANZ is contribution a variety of armed forces counting, account administration, credit cards managing  payments,  payments of bills, trading shares, fund transfer and investment administration. The reimburse anybody trait allows the client to shift finances to the bank account of any individual with a participating fiscal organization. The bank was performing upon buyer hassle to power. The result of internet banking is updated in the website through monthly survey with a motive of improving and developing the new facilities.  This has helped the depositors to accept the internet based banking. The bank had achieved a great success in transforming ATM, phone and branch customers to Internet form of banking. The maximum exchange rate of 8.6 percent amongst its client is marked of achievement in internet business by ANZ. (Adge et al. 2014).

Liquidity and capital adequacy

A clandestine assembly in India set ICICI bank under commercial banking head. In January 1994 it was registered and got the licensed by RBI for its operations. At the end of 1999, it had 64 branches at all over India that was featured by state of the art technology and systems. Networking is done through V-SAT technology. At the end of the year 2000 it had more than 100 branches, 200 ATMs that were spread over the country. ICICI bank gives a wide variety of banking services domestically and internationally. This done for facilitating the trade cross- borders businesses and investment also the treasury and services provided in foreign exchanges. ICICI bank was the first one to launch the Internet Banking named as Infinity. It also offer free phone banking. The phone-banking offer services for transferring of funds, payments of bill and payment of e-bills and e shopping. (Altman 2013).

Strategically, at the time when deregulation was at peak ICICI had a benefit of a first mover advantage as it started it operations at the rising time of technologies that was lacking with older banks. A tie- up was made with the technology providers such as software trainers like NIIT, ISP Satyam Online and Compaq to spread it reach. These types of alliances are growing more than 50% every year. (Ball et al. 2013). The expansion of its own share prices is analytic of the organization’s success. Pay seal was launched in July 2000 that was a payment gateway ensuring the safety and security for the transactions done.  It interfaces along the web merchant, banking system and internet shopper to facilitate online payments in a safe environment. On September 22, 1999 subsidiary of   ICICI got listed on the NYSE. ICICI was a commercial bank who was first from India to be listed on NYSE and second Asian bank. Since it was listed the share price was constant any movements was seen due to the effect of US elections. The growth trend shows overall a good health. The bank target young professionals who belonged to urban areas to maintain its tag line. It strategy was based on services that were on demand like payments of bills loans- car, home, education, products for investment. ICICI planned for branching out from getting support of professionals and being amalgamated with other private sector banks for enabling its growth in the rural sector. The continuous momentum of internet development is estimated to assist its expansion. However, strategically in spite of regulations and issues regarding infrastructure it had been able to make profit on the path of technical growth. For boosting its competitive benefit it gives offers in a wide variety in online banking. ( Laudon and Laudon 2016).

Comparison between the Indian and New Zealand Banking System

Strength:

ANZ Bank	ICICI Bank
1. Reputable brand name	Primary mover benefit as modernization organizer in Internet banking
2. Industrial Infrastructure	Identified as technology organizer
3. Reaction to customer demand	Purchaser relationships built on order
4. Growing customer adaptation rate of internet banking	Online banking enlargement motivated by buyer Perce

ANZ Bank	ICICI Bank
1. Sluggish alteration to Internet banking	Momentum curb due to telecom carriers
2. Lack of order due to dissemination in the marketplace	Enriching and detachment barriers preventive the broaden
3.	Road and rail network issues at micro and international stage
4.	Deliberate moving dictatorial reform in the banking sector particularly with net banking

ANZ Bank	ICICI Bank
1. Influence the brand name	Influence the initial hauler benefit
2. Get the most out of on infrastructure	Capitalize on modernization person in charge representation

ANZ Bank	ICICI Bank
1. Promotion share thrashing to commerce rivals as well as fresh dramatis personae	Intimidation of being acquired by a conglomerate bank or community division company

Considering the threats and difficulties faced by both these banks in conditions the owner of worldwide contexts. They carry on influencing their clientele, through a range of strategies, on to the Internet.

As these banks are adapting internet banks and participating in their chain value in the internet services that are helping them to cut down their transaction cost so that they can elevate their picture as pioneer and innovative bankers. Acharya (2013) states that attractive the principal agent role in banking delivers one’s participants with the chance to trail, with an improved-intended or more urbane service. There is rising request for operational banking services, as the involvements of these two innovator administrations have revealed.

Table 1- Credit Deposit Ratio (%)

Credit Deposit Ratio (%)
Year	ICICI Bank Credit (in Corers)	ICICI Bank Deposits (in Corers)	ICICI Bank	ANZ Bank Credits (in Corers)	ANZ Bank Credits in Indian Currency	ANZ Bank Deposits (in Corers)	ANZ Bank Deposits In Indian Currency	ANZ Bank
2012-13	290249.4	292613.6	99.192	9048.9	653331	7769.7	560972	1.16
2013-14	338702.7	331913.7	102.045	9630	695279	8401.9	606617	1.15
2014-15	387522.1	361562.7	107.18	10636	767898	9067.8	654695	1.17
2015-16	435263.9	421425.7	103.284	1462	105578	9906.6	715257	0.15
2016-17	464232.1	490039.1	94.7337	1763	127267	10165.7	733964	0.17
Mean			101.29		0			0.76
Standard Deviation			4.16					0.4904
Standard Error			1.86					0.21931
Co-efficient of Variance			4.11					64.4466
CAGR			-0.92%					-31.68%

This ratio indicates the percentage of loan-assets formed by a bank through the deposits acknowledged. The credits given in the table below are the loans and advances that the bank grants. In the simple language it is the amount that is being lent to a person or an association by a bank that is being recovered after some time. On the amount provided as loan interest is charged on it at a certain rate. Deposits are those amounts that the bank receives from the customers who are holding savings accounts and interest is paid by the bank on them. (Ball et al. 2013).

The above table is designed to show the course of finance of five year. Studying the mean of Credit Deposit Ratio in ICICI Bank was higher than ANZ Bank. The credit deposit ratio in the year2014 and 2015 was highest and the lowest is marked in the year 2016 and 2017 for both banks. Both the banks had created loan assets out of its respective deposits.

Table 2- Interest Expenses to Total Ratio (%)

Interest Expenses to Total Expenses (%)
Year	ICICI Bank Interest Expenses (in Corers)	ICICI Bank Total Expenses (in Corers)	ICICI Bank	ANZ Bank Interest Expenses (in Corers)	ANZ Bank Interest Expense in Indian Currency	ANZ Bank Total Expenses(in Corers)	ANZ Bank Total Expenses on Indian Currency	ANZ Bank
2012-13	26,209.18	40,095.83	65.37	595.7	43009.5	150.7	10880.5	3.95
2013-14	27,702.59	44,795.55	61.84	352.9	25479.4	154.1	11126	2.29
2014-15	30,051.53	50,091.92	59.99	405.1	29248.2	156.6	11306.5	2.59
2015-16	31,515.39	58,336.20	54.02	342.1	24699.6	186.7	13479.7	1.83
2016-17	32,418.96	63,859.67	50.77	316.1	22822.4	170.9	12339	1.85
Mean			58.40					2.50
Standard Deviation			5.30					0.87
Standard Error			2.37					0.39
Coefficient of Variance			9.07					34.79
CAGR			-4.93%					-14.09%

Interest expenses are those expenses that banks needs to spend to pay the interest to the deposits under the saving account. Total expenses are regarded as the overall expenses such as overhead, staff and operating expenses.

A high volatility in ICICI Bank was there in regard to interest expenses to total expenses but it reduced to 54.02 percent in the year 2015-2016. A decreasing trend was seen every year from the year 2102-13. ANZ Bank had a fluctuation in the years 2013-2014 and 2014-2015 then in the followed year it followed the downfall trend related to interest expense. The total expense of ICICI Bank is less than ANZ Bank as compared. It can be said their citizen prefers both the banks in their respective country. 

Role of international standards

Table 3 Interest Income to Total Income (%)

Interest Income to Total Income (%)
Year	ICICI Bank Interest Income (in Corers)	ICICI Bank Total Income (in Corers)	ICICI Bank	ANZ Bank Interest Income (in Corers)	ANZ Bank Interest income in Indian currency	ANZ Bank total Income (in Corers)	ANZ Bank Total Income in Indian Currency	ANZ Bank
2012-13	40,075.60	48421.3	82.76	619.8	? 44,749.56	796.4	? 57,500.08	77.83
2013-14	44,178.15	54606	80.90	642.3	? 46,374.06	804.3	? 58,070.46	79.86
2014-15	49091.14	61267.3	80.13	692.6	? 50,005.72	868.3	? 62,691.26	79.77
2015-16	52739.43	68062.5	77.49	627.2	? 45,283.84	798.2	? 57,630.04	78.58
2016-17	54156.28	73660.8	73.52	334.4	? 24,143.68	464.4	? 33,529.68	72.01
Mean			78.96					77.61
Standard Deviation			3.58					3.24
Standard Error			1.60					1.45
Coefficient of Variance			4.54					4.18
CAGR			-2.34%					-1.54%

Lending of money in way of loan and advancement to the lenders and in return bank accepts interest on it. The invoice of interest is named as interest income. Total interest is the sum of operating, non interest and interest income.

The table 3 signifies that the ratio of interest income to total income in ICICI Bank is pretty instable over the years. On the other side the ratio of interest income to total income in ANZ Bank is remaining in the scale of 70-80. ANZ Bank has a lower growth rate than ICICI Bank. However, the share of interest income to total income in ICICI Bank is greater than comparing to ANZ Bank; this indicates that people prefer ICICI Bank to take loans and advances.

Table 4: Other Income to Total Income

Other income is the sum of non interest and other income while total income is calculated as the total of non interest, operating income and interest income.

Other Income to Total Income(%)
Year	ICICI Bank other Income (in Corers)	ICICI Bank Total Income (in Corers)	ICICI Bank	ANZ Bank Other Income (in Corers)	ANZ Bank Other income in Indian Currency	ANZ Bank total Income (in Corers)	ANZ Bank Total Income In Indian Currency	ANZ Bank
2012-13	8345.7	48421.3	17.24	78.1	5638.82	796.4	57500.1	0.10
2013-14	10427.87	54606.02	19.10	58.3	4209.26	804.3	58070.5	0.07
2014-15	12176.13	61267.27	19.87	57.7	4165.94	868.3	62691.3	0.07
2015-16	15323.05	68062.49	22.51	46.1	3328.42	798.2	57630	0.06
2016-17	19504.48	73660.76	26.48	41.2	2974.64	464.4	33529.7	0.09
Mean			21.04					0.08
Standard Deviation			3.58					0.02
Standard Error			1.60					0.01
Coefficient of Variance			2.24					2.24
CAGR			8.97%					-1.98%

The ratio of other income to total income was improved from 17.24% in the year 2012-13 to 26.48% in the year 2016-17 in regard of ICICI Bank. Though, the share of other income in total income of ANZ Bank was following a downward trend. The growth ratio of ICICI bank as compare to ANZ Bank is higher in the tenure of 5 years.

Table 5: Net worth Ratio

Overall efficiency of a firm is measured by net worth ratio. The ratio founds the relationship with net profit and the proprietor`s fund.

Net Worth Ratio
Year	ICICI Bank Proprietor’s Fund (in Corers)	ICICI Bank Net profit (in Corers)	ICICI Bank	ANZ Bank Proprietor’s Fund (in Corers)	ANZ Bank Proprietor’s Fund In Indian Currency	ANZ Bank Net Profit (in Corers)	ANZ Bank Net Profit in Indian Currency	ANZ Bank
2012-13	1153.64	8325.47	13.86	1094.5	79022.9	157.9	11400.4	6.93
2013-14	1155.04	9810.48	11.77	1178.1	85058.8	171.6	12389.5	6.87
2014-15	1159.66	11175.4	10.38	1245.3	89910.7	178.3	12873.3	6.98
2015-16	1163.17	9726.29	11.96	1270.1	91701.2	153.5	11082.7	8.27
2016-17	1165.11	9801.09	11.89	1278.1	92278.8	176.5	12743.3	7.24
Mean			11.97					7.26
Standard Deviation			1.24					0.58
Standard Error			0.55					0.26
Coefficient of Variance			10.35					8.06
CAGR			-3.02%					0.88%

The net worth ratio of ICICI Bank showed a floating trend in the 5 year tenure of the financial ratio. The net worth ratio of ICICI Bank decreased 3.48% from the era of 2012-13 to 2014-15, increased to 1.58% in the era of 2014-15 to 2015-16, and again showed a down fall of 0.07% during the era of 2015-16 to 2016-17. The net worth of ANZ Bank (0.88%) was higher as compared to ICICI Bank. (-3.02%)

Table 6: Total Income

The total income shows the rupee price of the income received during an era. The upper cost of total income signifies the competence and respectable presentation.

Growth in Total income
Year	ICICI Bank Total income	% Change	ANZ Bank  Total Income	ANZ Bank Total Income In Indian Currency	% Change
2012-13	48421.3	0	796.4	57500.1	0
2013-14	54606	88.6739	804.3	58070.5	99.0178
2014-15	61267.3	89.1276	868.3	62691.3	92.6293
2015-16	68062.5	90.0162	798.2	57630	108.782
2016-17	73660.8	92.3999	464.4	33529.7	171.878
Mean		72.0435			94.4614
Standard Deviation		40.2992			61.5334
Standard Error		18.0224			27.5186
Coefficient of Variance		55.9373			65.1413
CAGR		1.03%			14.78%

The growth rate of ANZ Bank is greater as compared to ICICI Bank during the tenure of 5 financial years.

Table 7 Total Expenditure

The total expenditure shows the expenditure that has been incurred for the welfare of employees, expenditure incurred on interest and overheads.

Total Expense
Year	ICICI Total Expenditure	% change	ANZ Bank Total Expenditure	% Change
2012-13	40,095.83	0	10880.5	0
2013-14	44,795.55	89.51	11126	97.79
2014-15	50,091.92	89.43	11306.5	98.40
2015-16	58,336.20	85.87	13479.7	83.88
2016-17	63,859.67	91.35	12339	109.25
Mean		89.04		97.33
Standard Deviation		2.29		10.40
Standard Error		1.15		5.20
Coefficient  of Variance		2.58		10.68
CAGR		0.51%		2.81%

Main liquidity

The growth rate of expenditure ANZ Bank was 2.81% during the same tenure as compared to the ICICI Bank. It is clear that ANZ Bank has been successful in reducing their expenditure. As compared to other years ICICI Bank has been able to cut down its expenditure in 2016-2017. Even the table shows same for the ANZ Bank that it also successful on bringing down its expenditure. However, it is clear that ANZ Bank is more potential as ICICI in managing its expenditure.( Weygandt et al. 2015).

Conclusion:

 In planning of economic growth banking institutions in the nation has been assigned a major role. The soundness and efficient banking system indicates the strong economy. The report is about the beginning of the banking system in the two countries and their legal day to day process. The study is to judge the overall performance of ICICI Bank and ANZ Bank of New Zealand. The study is based on the tenure of 5 years that is from 2013-2017. Percentage scrutiny was allied to dismember and believe on the subject of the patterns in administration account commerce and fiscal implementation, for example, Interest Income to Total Income, Credit Deposits, Interest Expenses to Total Expenses and their statistical analysis with Compounded Annual Growth Rate for investigating the patterns in banking business. ( Laudon and Laudon 2016).

References:

Acharya, V.V., Khandwala, H. and Öncü, T.S., 2013. The growth of a shadow banking system in emerging markets: Evidence from India. Journal of International Money and Finance, 39, pp.207-230.

Lee, S. and Choi, W.S., 2013. A multi-industry bankruptcy prediction model using back-propagation neural network and multivariate discriminant analysis. Expert Systems with Applications, 40(8), pp.2941-2946.

Ball, R., Kothari, S.P. and Nikolaev, V.V., 2013. Econometrics of the Basu asymmetric timeliness coefficient and accounting conservatism. Journal of accounting research, 51(5), pp.1071-1097.

Boginski, V., Butenko, S. and Pardalos, P.M., 2005. Statistical analysis of financial networks. Computational statistics & data analysis, 48(2), pp.431-443.

Choi, J.H., Choi, S., Myers, L.A. and Ziebart, D., 2014. Financial statement comparability and the ability of current stock returns to reflect the information in future earnings. Available at SSRN.

Deb, M. and Lomo-David, E., 2014. An empirical examination of customers’ adoption of m-banking in India. Marketing Intelligence & Planning, 32(4), pp.475-494.

Dhar, S., 2015. A Study on Comparative Analysis of HDFC Bank and ICICI Bank on the Basis of Capital Market Performance.

Dixit, R. and Ghosh, M., 2013. Financial inclusion for inclusive growth of India-A study of Indian states. International Journal of Business Management & Research (IJBMR), 3(1), pp.147-156.

Fatima, N., 2014. Capital Adequacy: A Financial Soundness Indicator for Banks. Global Journal of Finance and Management, 6(8), pp.771-776.

Gupta, M.S., 2014. An Empirical Study of Financial Performance of Icici Bank–A Comparative Analysis. Journal of Business Studies (JBS), 1(1).

Kamber, G., McDonald, C. and Price, G., 2013. Drying out: Investigating the economic effects of drought in New Zealand(No. AN2013/02). Wellington: Reserve Bank of New Zealand.

Kaplan, M.J., 2013. Growing the next generation of social entrepreneurs and start-ups in New Zealand. Fulbright New Zealand.

Kaur, H. and Singh, K.N., 2015. Pradhan Mantri Jan Dhan Yojana (PMJDY): a leap towards financial inclusion in India. International Journal of Emerging Research in Management 

Keller, G., 2015. Statistics for Management and Economics, Abbreviated. Cengage Learning.

Kelsey, J., 2015. The New Zealand experiment: A world model for structural adjustment?. Bridget Williams Books.

Laudon, K.C. and Laudon, J.P., 2016. Management information system. Pearson Education India.

Leys, C., Ley, C., Klein, O., Bernard, P. and Licata, L., 2013. Detecting outliers: Do not use standard deviation around the mean, use absolute deviation around the median. Journal of Experimental Social Psychology, 49(4), pp.764-766.

Leys, C., Ley, C., Klein, O., Bernard, P. and Licata, L., 2013. Detecting outliers: Do not use standard deviation around the mean, use absolute deviation around the median. Journal of Experimental Social Psychology, 49(4), pp.764-766.

Manikyam, K.R., 2014. Indian Banking Sector–Challenges and Opportunities. IOSR Journal of Business and Management, 16(2), pp.52-61.

Mubashir, M., 2013. Fundamental Analysis of Banking Industry.

Oh, C.H., Park, J.H. and Ghauri, P.N., 2013. Doing right, investing right: Socially responsible investing and shareholder activism in the financial sector. Business Horizons, 56(6), pp.703-714.

Parameswar, N., Dhir, S. and Dhir, S., 2017. Banking on innovation, innovation in banking at ICICI bank. Global Business and Organizational Excellence, 36(2), pp.6-16.

Rodriguez?Marek, A., Cotton, F., Abrahamson, N.A., Akkar, S., Al Atik, L., Edwards, B., Montalva, G.A. and Dawood, H.M., 2013. A model for single?station standard deviation using data from various tectonic regions. Bulletin of the seismological society of America, 103(6), pp.3149-3163.

Saeidipour, B., Ranjbar, H. and Ranjbar, S., 2013. Adoption of Internet banking. IOSR Journal of Business and Management, 11(2), pp.46-51.

Sikdar, P. and Makkad, M., 2013. ROLE OF NON PERFORMING ASSETS IN THE RISK FRAMEWORK OF COMMERCIAL BANKS–AStudy OF SELECT INDIAN COMMERCIAL BANKS. AIMA Journal of Management & Research, 7(2/4), pp.0974-497.

Subbarao, D., 2013, August. Banking structure in India: Looking ahead by looking back. In Speaking notes at the FICCI-IBA Annual banking conference in Mumbai, August.

Thompson, P.A., 2013. Invested interests? Reflexivity, representation and reporting in financial markets. Journalism, 14(2), pp.208-227.

Toledano, M. and Riches, M., 2014. Brand alliance and event management for social causes: Evidence from New Zealand. Public Relations Review, 40(5), pp.807-814.

Vaz, S., Falkmer, T., Passmore, A.E., Parsons, R. and Andreou, P., 2013. The case for using the repeatability coefficient when calculating test–retest reliability. PLoS One, 8(9), p.e73990.

Voit, J., 2013. The statistical mechanics of financial markets. Springer Science & Business Media.

Ward, A., 2015. An unsettled history: Treaty claims in New Zealand today. Bridget Williams Books.

Weygandt, J.J., Kimmel, P.D. and Kieso, D.E., 2015. Financial & managerial accounting. John Wiley & Sons.