Recent Fiscal and Monetary Change Affects the Indian Banking System: A Special Reference to Nifty Bank and S&P Bse Bankex
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 4
Abstract
Policy of a nation like national ownership, the supply of money, EXIM policy, budget,the rate of interest and the taxation are crucial to deciding the supply and deficit of nation’s monetary and fiscal element. For a developing nation like India, the two major changes faced during the year 2016-17 and 2017-18 were demonetization and GST (Goods and Service Tax). Demonetization is an act of considering the currency unit as illegal whereas GST states the single tax levy throughout the nation. The change has affected almost every business firm, corporate and individual nationally and globally. Any kind of such is reflected directly in the monetary system,especially to the banking sector. Hence, this paper will highlight the Demonetization and GST effect on Indian Banking sector. The performance of Indian banking sector will be measured from two sets of Indian stock market index i.e. Nifty Bank (NIFTY BANK) and S&P BSE Bankex (S&P BSE BANKEX). For the analysis, the JB test is used to test the data normality and for stationarity of data ADF & PP test is used while to understand the pre and post event paired sample t test is used.
Authors and Affiliations
Arya Kumar
Keywords
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- EP ID EP411110
- DOI 10.9790/487X-20040893102.
- Views 73
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