24 May 2017

Measurement Scales–Nominal, Ordinal, Interval and Ratio

May 24, 2017

Measurement scales are classified popularly under four categories:

  1. Nominal,
  2. Ordinal,
  3. Interval,
  4. Ratio.

Let’s discuss in brief about these measurement scales before going on for some technical details. If you want to test Network of 50 smart phone users. Let’s begins by evaluating each on 4G – Non 4G data; this is a nominal measurement. Then the users ranks the Quality from best to worst; this is an ordinal measurement. Next, the mobile users uses a 5 or 7 point scale that has equal distance between points to rate the 4G network with regard to some criterion (e.g., data speed, Coverage, cost and etc.., ); this is an interval measurement. Finally, the user considers another network dimensions (eg.3G) and assigns 100 points among the 50 smart phone users; this is a ratio measurement. The characteristics of these measurement scales are summarized in below table.

Measurement Scales - Sulthan Academy

Note: Likert scale variables falls under Ordinal and/or Interval scale depends on the nature of the measurement.

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Measures of Location–Mean and Median

May 24, 2017

Measures of location are used in order to determine where the data distribution is concentrated. The most usual measures of location are Mean and Median


The mean of a set of numerical observations is just the familiar arithmetic average. The sum of the observations divided by the number of observations gives you Arithmetic Mean. It is helpful to have concise notation for the variable on which observations were made.



x = the variable for which we have sample data

n = the number of observations in the sample (the sample size)

x1 = the first observation in the sample

x2 = the second observation in the sample

xn = the nth (last) observation in the sample

The Greek letter Ʃ is traditionally used in mathematics to denote summation. It denotes the sum of all the x values in the data set.


Like a median strip of a highway divides the highway in half, the median of a numerical data set does the same thing for a data set. Once the data values have been listed in order from smallest to largest, the median is the middle value in the list, and it divides the list into two equal parts. Depending on whether the sample size n is even or odd, the process of determining the median is slightly different. When n is an odd number (say, 7), the sample median is the single middle value. But when n is even (say, 8), there are two middle values in the ordered list, and we average these two middle values to obtain the sample median.


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22 May 2017

Common symbols used in statistical tests

May 22, 2017


Each statistical tests or methods has its own terminology and symbols, but the following are commonly used by all statisticians / researchers

N – Size of population

n - number of observations (sample size)

K - number of samples (each having n elements)

α (Alpha) - level of significance

v (Nu)- degrees of freedom

σ (Sigma)- standard deviation (population)

s - standard deviation (sample)

σ2 (Sigma)- Variance(population)

s2 - Variance (sample)

μ (Mu)- population mean

clip_image002 - sample mean

ρ (Rho)- population correlation coefficient

r - sample correlation coefficient

β (beta)- regression coefficients (population)

b - regression coefficients (sample)

Z - standard normal deviate

To understand types of error - WHAT ARE TYPE I AND TYPE II ERRORS?

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13 May 2017

Evolution of Commercial Banks in India

May 13, 2017

The commercial banking industry in India started in 1786 with the establishment of the Bank of Bengal in Calcutta.

The British India at the time established three Presidency banks, namely,

  1. Bank of Bengal (established in 1809)
  2. Bank of Bombay (established in 1840)
  3. Bank of Madras (established in 1843)

In 1921, the three Presidency banks were amalgamated to form the Imperial Bank of India, which took up the role of a commercial bank, a bankers' bank and a banker to the Government. The Imperial Bank of India was established mainly with European shareholders. After the establishment of Reserve Bank of India (RBI) as the central bank of the country in 1935, the role of the Imperial Bank of India came to an end.


In 1865, the Allahabad Bank was established purely by Indian shareholders. Punjab National Bank came into being in 1895. Between 1906 and 1913, other banks like Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank, and Bank of Mysore were set up.

After independence, the Government of India started taking steps to encourage the spread of banking in India. In order to serve the economy in general and the rural sector in particular, the All India Rural Credit Survey Committee recommended the creation of a state-partnered and state-sponsored bank taking over the Imperial Bank of India and integrating with it, the former state-owned and state associate banks. Accordingly, State Bank of India (SBI) was constituted in 1955. Subsequently, in 1959, the State Bank of India (subsidiary bank) Act was passed, enabling the SBI to take over eight former state-associate banks as its subsidiaries.

To better align the banking system to the needs of planning and economic policy, it was considered necessary to have social control over banks. In 1969, 14 of the major private sector banks were nationalised. This was an important milestone in the history of Indian banking. This was followed by the nationalisation of another six private banks in 1980. With the nationalisation of these banks, the major segment of the banking sector came under the control of the Government. The nationalisation of banks boost to branch expansion in rural and semi-urban areas, which in turn resulted in huge deposit , thereby giving a boost to the overall savings rate of the economy. It also resulted in scaling up of lending to agriculture and its allied sectors.

To create a strong and competitive banking system, a number of reform measures were initiated in the early 1990s. The thrust of the reforms was on increasing operational efficiency, strengthening supervision over banks, creating competitive conditions and developing technological and institutional infrastructure. These measures led to the improvement in the financial health, soundness and efficiency of the banking system.

One important feature of the reforms of the 1990s was that the entry of new private sector banks was permitted. Following this decision, new banks such as ICICI Bank, HDFC Bank, IDBI Bank (public bank) and UTI Bank (now Axis Bank) were set up.

UTI Bank to Axis Bank

Commercial banks in India have traditionally focused on meeting the short-term financial needs of industry, trade and agriculture. However, the increasing diversification of the Indian economy, the range of services extended by commercial banks.

Currently commercial banks in India are categorised into five different groups according to their ownership and/or nature of operation:

  1. State Bank of India and its Associates
  2. Nationalised Banks
  3. Private Sector Banks
  4. Foreign Banks
  5. Regional Rural Banks

Complete List of Banks in India (as of 2017)

Nationalised Banks

  1. Allahabad Bank
  2. Andhra Bank
  3. Bank of India
  4. Bank of Baroda
  5. Bank of Maharashtra
  6. Canara Bank
  7. Central Bank of India
  8. Corporation Bank
  9. Dena Bank
  10. Indian Bank
  11. Indian Overseas Bank
  12. IDBI Bank
  13. Oriental Bank of Commerce
  14. Punjab & Sindh Bank
  15. Punjab National Bank
  16. Syndicate Bank
  17. UCO Bank
  18. Union Bank of India
  19. United Bank of India
  20. Vijaya Bank
  21. Bhartiya Mahila Bank

Private-sector banks

  1. Axis bank
  2. Bandhan Bank
  3. Fedaral Bank
  4. HDFC Bank
  5. ICICI Bank
  6. IDFC Bank
  7. IndusInd Bank
  8. Jammu and Kashmir Bank
  9. Karnataka Bank
  10. Karur Vysya Bank
  11. Kotak Mahindra Bank
  12. Lakshmi Vilas Bank
  13. Nainital Bank
  14. RBL Bank
  15. South Indian Bank
  16. Tamilnadu Mercantile Bank Limited
  17. Yes Bank
  18. Equitas Small Finance Bank
  19. Capital Small Finance Bank
  20. Coastal Local Area Bank
  21. Krishna Bhima Samruddhi Local Area Bank
  22. Subhadra Local Area Bank
  23. Ujjivan Small Finance Bank
  24. Fincare Small Finance Bank
  25. Vijaya Bank
  26. DCB Bank

Payments Bank

  1. Aditya Birla Idea Payments Bank
  2. Airtel Payments Bank
  3. India Post Payments Bank
  4. Jio Payments Bank
  5. Paytm Payments Bank

Foreign banks with branches in India

Australian banks
Australia and New Zealand Banking Group
Commonwealth Bank of Australia
National Australia Bank
Westpac Banking Corporation

Bahraini banks
Bank of Bahrain and Kuwait

Bangladeshi banks
AB Bank
Sonali Bank

Belgian bank
Antwerp Diamond Bank

Canadian bank
Bank of Nova Scotia

Chinese bank
Industrial & Commercial Bank of China

French banks
BNP Paribas
Credit Agricole
Societe Generale

German banks
Deutsche Bank

Indonesian bank
Bank Internasional Indonesia

Japanese banks
Mizuho Corporate Bank
Sumitomo Mitsui Banking
Bank of Tokyo-Mitsubishi

Mauritian bank
State Bank of Mauritius

Dutch bank

Qatari bank
Doha bank

Russian banks

Omani bank
HSBC Bank Oman

Singaporean banks
DBS Bank
United Overseas Bank

South African bank
FirstRand Bank

South Korean banks
Shinhan Bank
Woori Bank

Sri Lankan bank
Bank of Ceylon

Swiss banks
Credit Suisse

Taiwanese bank
Chinatrust Commercial Bank

Thai bank
Krung Thai Bank

UAE banks
Abu Dhabi Commercial Bank
Mashreq Bank

UK banks
Barclays Bank
Standard Chartered Bank
Royal Bank of Scotland

US banks
American Express
Bank of America
J.P. Morgan Chase Bank

Regional Rural Banks

Andhra Pradesh
Andhra Pragathi Grameena Bank
Andhra Pradesh Grameena Vikas Bank
Chaitanya Godavari Grameena Bank
Saptagiri Grameena Bank

Assam Gramin Vikash Bank
Langpi Dehangi Rural Bank

Arunachal Pradesh
Arunachal Pradesh Rural Bank

Uttar Bihar Gramin Bank
Madhya Bihar Gramin Bank
Bihar Gramin Bank

Chhattisgarh Rajya Gramin Bank

Dena Gujarat Gramin Bank
Baroda Gujarat Gramin Bank
Saurashtra Gramin Bank

Sarva Haryana Gramin Bank

Himachal Pradesh
Himachal Pradesh Gramin Bank

Jharkhand Gramin Bank
Vananchal Gramin Bank

Jammu & Kashmir
Jammu And Kashmir Grameen Bank
Ellaquai Dehati Bank

Kaveri Grameena Bank
Karnataka Vikas Grameena Bank
Pragathi Krishna Gramin Bank

Kerala Gramin Bank

Madhya Pradesh
Narmada Jhabua Gramin Bank
Central Madhya Pradesh Gramin Bank
Madhyanchal Gramin Bank

Maharashtra Gramin Bank
Vidarbha Kokan Gramin Bank

Manipur Rural Bank

Meghalaya Rural Bank

Mizoram Rural Bank

Nagaland Rural Bank

Odisha Gramya Bank
Odisha State Co-Operative Bank Ltd.
Utkal Grameen Bank
Rushikulya Gramya Bank

Punjab Gramin Bank
Malwa Gramin Bank
Sutlej Gramin Bank

Puduvai Bharathiar Grama Bank

Baroda Rajasthan Kshetriya Gramin Bank
Marudhara Rajasthan Gramin Bank

Tamil Nadu
Pandyan Grama Bank
Pallavan Grama Bank

Telangana Grameena Bank

Tripura Gramin Bank

Uttar Pradesh
Sarva UP Gramin Bank
Prathama Bank
Allahabad UP Gramin Bank
Baroda UP Gramin Bank
Gramin Bank Of Aryavrat
Kashi Gomti Samyukt Gramin Bank

Uttarakhand Gramin Bank

West Bengal
Bangiya Gramin Vikash Bank
Paschim Banga Gramin Bank
Uttarbanga Kshetriya Gramin Bank

Co-operative banks

State Co-operative Banks

  1. Andaman and Nicobar State Co-operative Bank
  2. Andhra Pradesh State Co-operative Bank
  3. Arunachal Pradesh State Co-operative Apex Bank
  4. Assam Co-operative Apex Bank
  5. Bihar State Co-operative Bank
  6. Bharat Co-operative Bank
  7. Chandigarh State Co-operative Bank
  8. Chhattisgarh Rajya Sahakari Bank Maryadit
  9. Delhi State Co-operative Bank
  10. Goa State Co-operative Bank
  11. Gujarat State Co-operative Bank
  12. Gujarat State Co-operative Agriculture & Rural Development Bank
  13. Haryana State Co-operative Apex Bank
  14. Himachal Pradesh State Co-operative Bank
  15. Jammu and Kashmir State Co-operative Bank
  16. Jharkhand State Co-operative Bank
  17. Karnataka State Co-operative Apex Bank
  18. Kerala State Co-operative Bank
  19. Madhya Pradesh Rajya Sahakari Bank Maryadit
  20. Mogaveera Co-operative Bank
  21. Maharashtra State Co-operative Bank
  22. Manipur State Co-operative Bank
  23. Meghalaya Co-operative Apex Bank
  24. Mizoram Co-operative Apex Bank
  25. Nagaland State Co-operative Bank
  26. Orissa State Co-operative Bank
  27. Pondichery State Co-operative Bank
  28. Punjab State Co-operative Bank
  29. Rajasthan State Co-operative Bank
  30. Sikkim State Co-operative Bank
  31. The Rajkot Commercial Co-Operative Bank Ltd
  32. The Tamil Nadu State Apex Co-operative Bank
  33. Telangana State Co-Operative Apex Bank Limited
  34. Tripura State Co-operative Bank
  35. Uttar Pradesh Co-operative Bank
  36. Uttarakhand State Co-operative Bank
  37. West Bengal State Co-operative Bank
  38. Tumkur Grain Merchant's Co-operative Bank
  39. Nagpur Nagrik Sahakari Bank Limited
  40. Tumkur Veerashaiva Co-operative Bank Limited

Urban Co-operative Banks

  1. Apna Sahakari Co-Op Bank Ltd
  2. Ahmedabad Mercantile Co-Op Bank
  3. Kalupur Commercial Coop. Bank
  4. Mehsana Urban Co-Op Bank
  5. Nutan Nagarik Sahakari Bank
  6. Rajkot Nagrik Sahakari Bank
  7. Sardar Bhiladwala Pardi Peoples Coop Bank
  8. Surat Peoples Coop Bank
  9. Rajdhani Nagar Sahkari Bank
  10. Adhyapaka Urban Co-operative Bank
  11. Andhra Pradesh Mahesh Co-Op Urban Bank
  12. Indian Mercantile Co-operative Bank
  13. Abhyudaya Co-operative Bank
  14. Bassein Catholic Co-operative Bank
  15. Bharat Co-operative Bank (Mumbai)
  16. Bharati Sahakari Bank
  17. Bombay Mercantile Co-operative Bank
  18. Citizencredit Co-operative Bank
  19. Cosmos Co-operative Urban Bank
  20. Dombivli Nagari Sahakari Bank
  21. Goa Urban Co-operative Bank
  22. Gopinath Patil Parsik Janata Sahakari Bank
  23. Greater Bombay Co-operative Bank
  24. Jalgaon Janata Sahakari Bank
  25. Janakalyan Sahakari Bank
  26. Janalaxmi Co-operative Bank
  27. Janata Sahakari Bank
  28. Junagadh Commercial Co-operative Bank
  29. Kallappanna Awade Ichalkaranji Janata Sahakari Bank
  30. Kalyan Janata Sahakari Bank
  31. Karad Urban Co-operative Bank
  32. Mahanagar Co-operative Bank
  33. Mapusa Urban Co-operative Bank of Goa
  34. Nagar Urban Co-operative Bank
  35. Nasik Merchant's Co-operative Bank
  36. New India Co-operative Bank
  37. NKGSB Co-operative Bank
  38. Pravara Sahakari Bank
  39. Punjab & Maharashtra Co-operative Bank
  40. Rupee Co-operative Bank
  41. Sangli Urban Co-operative Bank
  42. Saraswat Co-operative Bank
  43. Shamrao Vithal Co-operative Bank
  44. Solapur Janata Sahakari Bank
  45. Thane Bharat Sahakari Bank
  46. The Kapole Co-operative Bank
  47. TJSB Sahakari Bank
  48. Zoroastrian Co-operative Bank
  49. Nagpur Nagrik Sahakari Bank
  50. Shikshak Sahakari Bank
  51. Akola Janata Commercial Co-operative Bank
  52. Akola Urban Co-operative Bank
  53. Khamgaon Urban Co-operative Bank
  54. Muneshwra swamy BANK
  55. Eenadu Urban Co operative Bank
  56. Rohit Kataria Co-operative Bank
  57. Dakshin Barasat Service Co-Operative Society Private Limited
  58. Barasat, Kolkata
  59. Sangli District Primary Teachers Bank Ltd, Sangli
  60. Chartered Mercantile M.B. Ltd, Lucknow, U.P.
  61. Lic of india staff co operative bank.
  62. Ahand Anand Co-Op Bank
  63. Varchha Co-op Bank
  64. The Surat District Co-Op Bank Ltd
  65. The Sutex Co-op. bank Ltd.
  66. The Bardoli Nagarik Sahakari Bank Ltd

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09 May 2017

Capital market: Primary Market and Secondary Market

May 09, 2017

Capital market: Primary Market and Secondary Market

A capital market is a financial market in which long-term debt or equity-backed securities are bought and sold. Capital market is segmented in to two market Primary Market and Secondary Market.

Primary Market

Primary market provides an opportunity to Government and corporations, to raise funds through issue of securities. The securities may be issued in the domestic or international markets, at face value, or at a discount (below their face value) or at a premium (above their face value). The primary market issuance is done either through a public issue or private placement. Under the Companies Act, 1956, an issue is referred to as public, if it results in allotment of securities to 50 investors or more. However, when the issuer makes an issue of securities to a select group of persons not exceeding 49, and if it is neither a rights issue (i.e. issued only to existing investors) nor a public issue (i.e. made available to any member of the general public to invest in), it is called a private placement. When a company makes a public issue of its equity shares for the first time, it is called an initial public offer (IPO). Subsequent issues are Follow-on public offers (FPO).

Secondary Market

Secondary market refers to a market, where securities that are already issued by the Government or corporations, are traded between buyers and sellers of those securities. The securities traded in the secondary market could be in the nature of equity, debt, derivatives etc. It is to be noted that primary market transactions directly affect the issuing company’s balance sheet (i.e. the financial statement of its assets and liabilities as on any date). For instance, if the company issues equity shares, the equity share capital in its balance sheet will increase. On the other hand, a secondary market transactions in those equity shares have no impact on the issuing company’s balance sheet. The ownership of the shares will move from the seller to the buyer .

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