NOLEGEIN-Journal of Financial Planning and Management

Study on Financial Analysis Practices at Elaiichiram Foods Industries

2026-02-20T09:28:52+00:00

Financial analysis plays a vital role in evaluating the performance, stability, and growth prospects of an organization. The present study focuses on the financial analysis practices at Elaiichiram Foods Industries, aiming to assess the effectiveness of financial management and decision-making processes within the firm The research examines key financial statements, including the balance sheet, income statement, and cash flow statement, to evaluate the company’s profitability, liquidity, solvency, and operational efficiency. The study utilizes various financial tools and techniques such as ratio analysis, trend analysis, and comparative analysis to interpret the financial position and performance of the organization over a specific period. These analytical methods help in identifying strengths, weaknesses, opportunities, and potential risks associated with the financial operations of the company . The findings of the study provide insights into the efficiency of resource utilization, cost management practices, and overall financial health of Elaiichiram Foods Industries. Furthermore, the research highlights the importance of effective financial planning, budgeting, and control mechanisms in enhancing organizational sustainability and competitiveness in the food industry. The study also emphasizes the need for timely financial reporting and strategic financial decisions to improve profitability and long-term growth. The outcomes of this research are expected to be beneficial for management, investors, and other stakeholders in understanding the financial performance of the organization and in formulating informed financial strategies. Overall, the study contributes to a better understanding of financial analysis practices and their significance in achieving organizational efficiency and financial stability.

PMJDY AND FINANCIAL INCLUSION IN GUJARAT: A CONCEPTUAL REVIEW OF ACHIEVEMENTS AND USAGE GAPS

2026-04-04T09:38:08+00:00

The Pradhan Mantri Jan Dhan Yojana (PMJDY) is a flagship financial inclusion program of the Government of India designed to provide universal access to formal banking services. Since its introduction in 2014, the scheme has recorded remarkable progress in terms of outreach and account penetration, with more than 57 crore bank accounts opened nationwide. Despite this achievement, concerns persist regarding the effective utilization of these accounts. Evidence from official statistics, Reserve Bank of India reports, and existing academic literature indicates that a considerable proportion of PMJDY accounts remain dormant or are used primarily for receiving Direct Benefit Transfers, rather than for savings, credit, or regular financial transactions. This highlights a significant gap between financial access and meaningful financial inclusion. The present study is conceptual and descriptive in nature and is based exclusively on secondary data collected from credible sources, including the PMJDY official portal, RBI publications, peer-reviewed research articles, and doctoral theses available on Shodhganga. The paper seeks to analyze the paradox of high account penetration accompanied by low account usage under PMJDY. It further aims to identify the key factors responsible for limited usage, such as low financial literacy, irregular income patterns, digital exclusion, and infrastructural constraints, particularly in rural areas. Based on insights drawn from the literature, the study proposes policy-oriented measuresto promote active account usage and strengthen financial engagement. The paper emphasizes the necessity of shifting the policy focus from access-based financial inclusion to sustained, usage-based financial inclusion to achieve long-term
socioeconomic development.

A Study on Recent Trends in Digital Payment System in India

2026-03-24T10:40:48+00:00

India’s digital payment ecosystem has experienced an unprecedented transformation over the past decade, positioning the country as one of the global leaders in real-time digital transactions. This rapid growth has been primarily driven by the Unified Payments Interface (UPI), strong government initiatives under Digital India, expansion of digital public infrastructure, increasing smartphone penetration, and continuous innovation by fintech companies. My study examines recent trends in India’s digital payment landscape during the period 2023–2025 using secondary data obtained from official government publications, central banking reports, National Payments Corporation of India (NPCI) statistics, and industry research studies. My findings indicate that UPI continues to dominate India’s retail digital payment ecosystem, recording exponential growth in transaction volumes and values, with monthly transactions crossing tens of billions. The growth of QR-code-based merchant acceptance, UPI Lite for small value transactions, and increased interoperability among payment systems have significantly enhanced accessibility and convenience for users. Additionally, the study highlights the rapid expansion of digital payment infrastructure in semi-urban and rural areas, supported by financial inclusion initiatives such as Jan Dhan accounts, Aadhaar-enabled payment systems, and Direct Benefit Transfer (DBT) programs. The shift toward small-value, high-frequency transactions reflects changing consumer behavior and increasing dependence on digital payment platforms for everyday transactions. Despite these achievements, the study identifies critical challenges including cybersecurity threats, fraud risks, infrastructure reliability issues, data privacy concerns, and
increasing market concentration among dominant payment service providers. Regulatory authorities, particularly the Reserve Bank of India (RBI), have introduced various measures to strengthen consumer protection, operational resilience, and data security standards. My study concludes that while India’s digital payment ecosystem demonstrates remarkable growth and innovation, sustainable expansion will require continuous investment in cybersecurity infrastructure, consumer awareness, data governance frameworks, and fair competition policies. The Indian model of digital public infrastructure offers valuable lessons for other emerging economies aiming to achieve financial inclusion through technology-driven payment solutions.

A Study on Fintech Innovations and Their Impact on Traditional Banking Models in Indian Banking System

2026-02-25T11:19:30+00:00

The rapid growth of innovations in financial technology (Fintech) has intensely shaken traditional banking frameworks globally, with India being a vibrant case study based on its extensive unbanked population, digital infrastructure growth, and accommodating regulation policies. This research paper analyzes the influence of Fintech innovations – digital wallets, peer-to-peer lending platforms, AI-based credit scoring, blockchain-based settlement systems, and open banking APIs – on traditional banks’ business models, customer acquisition strategies, and competitive strategy in the Indian banking sector. By leveraging a mixed-methods research strategy integrating quantitative content analysis of industry reports, policy data from the Reserve Bank of India (RBI), and qualitative information from interviews conducted with banking executives and Fintech entrepreneurs, the research study indicates major areas of disruption: minimized transaction costs, improved financial inclusion, accelerated service, and heightened customer expectations for tailored experiences. The research shows that in contrast to mainstream banks struggling with agility and technological upgrading, strategic collaboration with Fintech companies, digital transformation investment, and sandbox experiments with regulators are empowering hybrid models combining institutional trust and technological innovation. The study concludes that Fintech is not replacing traditional banking but transforming it, developing an ecosystem of co-evolution where collaboration is more than competition. Policy suggestions are made to enhance regulatory coherence, provide security of data, and foster access to digital financial services in an equitable manner.

A Study of Gender-Based Differences in Household Finance Decisions and Consumer Behavior

2026-03-23T11:10:18+00:00

This study examines gender-based differences in household financial decision-making and consumer behavior in urban India. Household finance decisions, such as saving, spending, investment, and credit usage, are influenced not only by economic factors but also by behavioral and psychological attributes, which often vary across genders. The study adopts a quantitative and analytical research design based on primary data collected from urban households. A structured questionnaire was used to collect data from 300 respondents, consisting of male and female earning members actively involved in household financial decisions. Statistical tools, such as descriptive analysis, independent sample t-test, and regression analysis, were employed to examine gender differences and the influence of behavioral factors on financial decisions. The findings reveal significant differences between male and female respondents in terms of risk tolerance, investment preferences, and spending behavior, while similarities are observed in saving patterns and basic financial planning. The study highlights the importance of gender-sensitive financial education and policy interventions aimed at improving household financial well-being. The results provide valuable insights for policymakers, financial institutions, and educators seeking to design inclusive financial products and literacy programs.

A Detailed Financial Analysis on Prominent Indian Ayurveda Companies Before and After the COVID Era

2026-04-29T05:05:32+00:00

At present, the Ministry of AYUSH under the Government of India regulates and promotes Ayurvedic medicine as a well-recognized and systematically governed alternative healthcare system. In response to the growing global demand for traditional and holistic medical practices, several universities and institutions now offer specialized degree programs in Ayurveda to produce qualified medical professionals. Ayurveda, which is considered an Upaveda of the Atharva Veda, represents one of the oldest traditional systems of medicine in the world and is believed to have been practiced for more than 5,000 years. It emphasizes a holistic approach to health, focusing on the balance between body, mind, and spirit. This study examines the financial performance of selected Ayurvedic enterprises in India over an eight-year period, covering both the pre-COVID era (2016–17 to 2019–20) and the post- COVID era (2020–21 to 2023–24). The primary objective of the research is to assess the profitability performance of Ayurvedic companies during these two phases. For this purpose, key financial indicators such as earnings per share, net profit ratio, return on net worth, return on capital employed, and return on assets have been analyzed. The findings of the study indicate that the coronavirus does not significantly differ from other viruses in terms of its long-term financial impact on leading Ayurvedic firms. Although the overall healthcare and medical industry witnessed substantial growth after the COVID-19 outbreak, major Ayurvedic enterprises did not experience a notable or consistent improvement in their financial performance during the post-pandemic period.

A Comparative Analysis of Public and Private Mutual Funds: A Study of SBI Mutual Funds and Aditya Birla Sun Life Mutual Funds

2026-04-29T04:46:55+00:00

Performance appraisal of mutual funds operating in the public sector and private sector provides critical insight into how ownership structure, management style, and strategic objectives influence investment outcomes. This paper compares SBI Mutual Fund, which represents the public sector, with Aditya Birla Sun Life Mutual Fund (ABSLMF), which represents the private sector. The key performance indicators that form part of the analysis include risk-adjusted returns, namely Sharpe Ratio, Treynor Ratio, and Jensen’s Alpha, besides studying the growth in NAV, fund volatility, and consistency of returns over a defined period. Results indicate that Aditya Birla Sun Life Mutual Fund schemes usually tend to exhibit higher risk-return dynamics on account of the more aggressive portfolio strategies characteristic of private-sector asset management, while SBI Mutual Fund schemes have typically pursued stability, long-term value creation, and lower risk exposure in line with conservative public-sector investment practices. The comparative analysis draws attention to differences in risk- adjusted return generation efficiency, responsiveness of fund management to market swings, and diversification patterns. The study concludes that an investor’s choice between mutual funds in the public and private sectors should be guided by their investment horizon, return expectations, and risk tolerance. It also draws on the importance of monitoring performance with changes in the market.

Impact of Risk Perception and Return Expectations on Mutual Fund Investment Preferences of Investors in Delhi NCR

2026-02-10T05:05:43+00:00

Background: Mutual funds have become a primary choice for retail investors who wish to diversify their investments and have professional management of their funds. The decision of mutual funds investment is conventionally elucidated by risk–return trade-off; although, emerging evidence indicates that behavioral and contextual variables might moderate the role of the risk perception and return anticipations, especially in new markets like India. Aim: The purpose of the study is to check the influence of risk perception and expectation of returns on the investment preference in mutual funds by individual investors in Delhi NCR. Method: The descriptive and analytical research design was taken. The sample size was 100 primary datasets gathered in the form of a structured questionnaire filled in on a five–point Likert scale using a structured questionnaire on each of the 100 individual mutual fund investors in Delhi NCR. Simple linear regression, Pearson correlation analysis and descriptive statistics were the tools used to analyze the data with the assistance of the SPSS. Results: The results show that the mutual fund awareness, knowledge, and preferences of investments have weak and negative relationships with risk perception and return expectations. Nevertheless, the two variables were established as having no statistically significant effect on mutual fund investment preferences. Also, there was no significant correlation between investment experience and preference of investors. Conclusion: The research concludes that the preferences of investors in terms of mutual fund investment in the city of Delhi NCR is not significantly supported by the risk perception or return expectations alone. The findings indicate the significance of behavioral, informational, and contextualities in determining investment behavior, which implies the necessity of increased investor education and advice.

Finance Advisor Using AI: Opportunities, Strategies, and Barriers

2026-04-04T09:04:12+00:00

This study examines the transformative impact of ChatGPT and similar conversational AI systems on the financial services industry. As financial institutions increasingly adopt digital technologies, generative AI tools are reshaping how organizations interact with customers, analyze data, and manage decision-making processes. The research evaluates the applications of ChatGPT across key financial domains, including customer support automation, personalized portfolio guidance, risk assessment, insurance advisory services, and fraud detection. By enabling real-time responses, advanced data interpretation, and scalable communication, ChatGPT enhances operational efficiency and improves customer engagement. The study also highlights essential best practices for implementing conversational AI responsibly within financial ecosystems. These include safeguarding sensitive financial data, designing secure and efficient data infrastructures, mitigating algorithmic bias, ensuring transparency in AI-generated outputs, and maintaining compliance with regulatory standards. Particular attention is given to the ethical implications of automated financial advice and the importance of explainability in AI-driven decisions. Furthermore, the paper outlines future research directions to address current limitations, such as data accuracy concerns, contextual misinterpretation, embedded biases, and overreliance on automated systems. It emphasizes the continued necessity of human oversight to validate AI outputs and uphold accountability. Overall, the study provides a comprehensive framework for integrating ChatGPT into financial services while balancing innovation with responsibility, security, and ethical governance.