Volume5 Issue8(1)

Volume 5, Issue 8(1), August 2016 International Journal of Multidisciplinary

Educational Research

Published by Sucharitha Publications 8-43-7/1, Chinna Waltair Visakhapatnam 530 017 Andhra Pradesh India Email: [email protected] Website: www.ijmer.in

Editorial Board Editor-in-Chief Dr.K. Victor Babu Faculty, Department of Philosophy Andhra University Visakhapatnam - 530 003 Andhra Pradesh India

EDITORIAL BOARD MEMBERS Prof. S.Mahendra Dev Vice Chancellor Indira Gandhi Institute of Development Research Mumbai Prof.Y.C. Simhadri Vice Chancellor, Patna University Former Director Institute of Constitutional and Parliamentary Studies, New Delhi & Formerly Vice Chancellor of Benaras Hindu University, Andhra University Nagarjuna University, Patna University Prof. (Dr.) Sohan Raj Tater Former Vice Chancellor Singhania University, Rajasthan Prof.K.Sreerama Murty Department of Economics Andhra University - Visakhapatnam Prof. K.R.Rajani Department of Philosophy Andhra University Visakhapatnam Prof. P.D.Satya Paul Department of Anthropology Andhra University Visakhapatnam Prof. Josef HCHTL Department of Political Economy University of Vienna, Vienna & Ex. Member of the Austrian Parliament Austria Prof. Alexander Chumakov Chair of Philosophy Russian Philosophical Society Moscow, Russia

Prof. Fidel Gutierrez Vivanco Founder and President Escuela Virtual de Asesora Filosfica Lima Peru Prof. Igor Kondrashin The Member of The Russian Philosophical Society The Russian Humanist Society and Expert of The UNESCO, Moscow, Russia Dr. Zoran Vujisi Rector St. Gregory Nazianzen Orthodox Institute Universidad Rural de Guatemala, GT, U.S.A Prof.U.Shameem Department of Zoology Andhra University Visakhapatnam Dr. N.V.S.Suryanarayana Dept. of Education, A.U. Campus Vizianagaram Dr. Kameswara Sharma YVR Asst. Professor Dept. of Zoology Sri. Venkateswara College, Delhi University, Delhi I Ketut Donder Depasar State Institute of Hindu Dharma Indonesia Prof. Roger Wiemers Professor of Education Lipscomb University, Nashville, USA Dr. N.S. Dhanam Department of Philosophy Andhra University Visakhapatnam

Dr.B.S.N.Murthy Department of Mechanical Engineering GITAM University Visakhapatnam Dr.S.V Lakshmana Rao Coordinator A.P State Resource Center Visakhapatnam Dr.S.Kannan Department of History Annamalai University Annamalai Nagar, Chidambaram Dr. B. Venkataswamy H.O.D., & Associate Professor Dept. of Telugu, P.A.S. College Pedanandipadu, Guntur, India Dr.E. Ashok Kumar Department of Education North- Eastern Hill University, Shillong Dr.K.Chaitanya Department of Chemistry Nanjing University of Science and Technology Peoples Republic of China Dr.Merina Islam Department of Philosophy Cachar College, Assam Dr. Bipasha Sinha S. S. Jalan Girls College University of Calcutta, Calcutta Prof. N Kanakaratnam Dept. of History, Archaeology & Culture Dravidian University, Kuppam Andhra Pradesh Dr. K. John Babu Department of Journalism & Mass Comm Central University of Kashmir, Kashmir

Dr.T.V.Ramana Department of Economics Andhra University Campus, Kakinada Dr.Ton Quang Cuong Dean of Faculty of Teacher Education University of Education, VNU, Hanoi Prof. Chanakya Kumar Department of Computer Science University of Pune,Pune Prof. Djordje Branko Vukelic Department for Production Engineering University of Novi Sad, Serbia Prof. Shobha V Huilgol Department of Pharmacology Off- Al- Ameen Medical College, Bijapur Prof.Joseph R.Jayakar Department of English GITAM University Hyderabad Prof.Francesco Massoni Department of Public Health Sciences University of Sapienza, Rome Prof.Mehsin Jabel Atteya Al-Mustansiriyah University College of Education Department of Mathematics, Iraq Prof. Ronato Sabalza Ballado Department of Mathematics University of Eastern Philippines, Philippines Dr.Senthur Velmurugan .V Librarian Kalasalingam University Krishnankovil Tamilnadu Dr.J.B.Chakravarthi Assistant Professor Department of Sahitya Rasthritya Sanskrit Vidyapeetha, Tirupati

Editor-in-Chief, IJMER

Typeset and Printed in India

www.ijmer.in IJMER, Journal of Multidisciplinary Educational Research, concentrates on critical and creative research in multidisciplinary traditions. This journal seeks to promote original research and cultivate a fruitful dialogue between old and new thought.

C O N T E N T S

Volume 5 Issue 8(1) August 2016

S. No

Page No

1. Global Fashion and Clothing Discourse in Cosmopolitan Kuta

Tjok Istri Ratna Cora Sudharsana

1

2. Learner-Autonomy : Transition towards Self-Directed Learning

B. Krishna Chandra Keerthi

9

3. A Study on Future Prospects and Challenges of Islamic Banking System in India

Delawar Hussain and Amit Majumdar

20

4. Impact of Socio-Economic Conditions on Emergence of Telangana Armed Struggle

Sunitha Pandi

38

5. Dr. B.R. Ambedkar: His Legacy to Modern India Karamthur Venkatesu Naik

51

6. The Concept of Liberation in the Svetasvataropanishad A.V.Krishna Rao

58

7. An Enquiry Regarding the Position of Buddha Snyavdins (Nihilism) in the Study of Prama in the Text Nyya-Stra

Dinanath Ghatak

64

8. Percent Body Fat and Body Mass Index: An Association Dinesh Kumar

82

9. Assessment of Factors Affecting Saving Habits of Farmer Households in Cash Crop Areas of Ilu Ababor Zone, Ethiopia: The Case of Selected Woredas

Geda Misganu and Geleta Merera

87

10. . .

98

11. Profitability Performance of the New India Assurance Company Limited

S. Renuga Devi

104

12. Changing Scenario of Women Entrepreneurship Abdul Hakim and Sadaf Khan

117

13. Non-Violence (Ahimsa) After Gandhi Debajyoti Sharma

124

14. The Deconstruction Ideology on the Bali Media Promotion of Bali Cultural Tourism

A.A Gde Bagus Udayana

140

15. Naga Intelligentia and Formation of Political Platform Akram Ali Bhutto

148

16. Energy Use and its Impact on Rural Women: A Case Study in Dhenkanal District of Odisha, India

Chinmayee Mishra

153

17. A Study on the Evaluation of the Vi Standard Social Studies Text Book

A. Dhanalakshmi

170

18. Socio-Economic and Demographic Features of Fisher Women :A-Case Study of Rural and Urban Areas in Visakhapatnam District

K.Swarna Latha

177

19. Personal Values of Senior Secondary School Students: Influence of School Environment

Anshu Narad

190

20. SEBI and the Clause 49 for the Corporate Governance and Investor Safety

Savita Rajendra Giri

219

Dr. K. VICTOR BABU M.A.,M.A.,M.Phil.,Ph.D.,PDF, (D.Lit)

Faculty of Philosophy and Religious Studies & Editor-in-Chief International Journal of Multidisciplinary Educational Research (IJMER) & Sucharitha: A Journal of Philosophy and Religion Andhra University, Visakhapatnam Pin - 530 003 , Andhra Pradesh India

ISSN : 2277 7881 Impact Factor :3.318(2015)

Index Copernicus Value: 5.16

Editorial

You will be happy to know that we have entered the fifth year of publication of IJMER, since its inception in April 2012. Focusing on many interdisciplinary subjects, the published papers are spreading the knowledge with fervent hope of upholding the holistic approach. With all my heart, I reiterate to echo my sincere feelings and express my profound thanks to each and every valued contributor. This journal continues to nurture and enhance the capabilities of one and all associated with it.

We as a team with relentless efforts are committed to inspire the readers and achieve further progress. Aim is to sustain the tempo and improve. We acknowledge with pleasure that our readers are enjoying the publications of Sucharitha Publishers. We solicit to receive ideas and comments for future improvements in its content and quality. Editor in-Chief explicitly conveys his gratitude to all the Editorial Board members. Your support is our motivation. Best wishes to everyone.

Dr.K.Victor Babu

Editor-in-Chief

SOCIAL SCIENCES, HUMANITIES, COMMERCE & MANAGEMENT, ENGINEERING & TECHNOLOGY, MEDICINE, SCIENCES, ART & DEVELOPMENT STUDIES, LAW

www.ijmer.in

INTERNATIONAL JOURNAL OF MULTIDISCIPLINARY EDUCATIONAL RESEARCH ISSN : 2277-7881; IMPACT FACTOR 3.318; IC VALUE:5.16; ISI VALUE:2.286 VOLUME 5, ISSUE 8(1), AUGUST 2016

GLOBAL FASHION AND CLOTHING DISCOURSE IN COSMOPOLITAN KUTA

Tjok Istri Ratna Cora Sudharsana

Fakultas Seni Rupa Dan Desain Program Studi Desain Mode

Institut Seni Indonesia Denpasar Jalan Nusa Indah Denpasar

Abstract

This research aims to understand how the discourse about global

fashion and clothes dominating and make a hegemony in cosmopolitan Kuta. The issue that be defined in this research is a discourse which forming global fashion and clothes to the people of Cosmopolitan Kuta, the influence of a discourse about global fashion and clothes into design of global fashion and clothing products in Cosmopolitan Kuta also the strategies of the producers, profashion and antifashion in Cosmopolitan Kuta make a deal with the discourses about global fashion and clothes.

This research be explained by interpretative qualitative, it was designed as a cultural studies with postmodern fashion design methods. The theories that used in this research is the theory of discourse, hegemony, deconstruction and lifestyle that related to global fashion and clothes. The data collected through participatory observation, interview and literature study. Interactive analysis model used in presenting the data and the results of the data analysis are presented in an informal and formal.

The results of this research indicate that psychological hegemony attitude towards latent triggered by globalization discourse, the discourse of global economy capitalism and cosmopolitan discourse. Hegemony to permanent psychological condition created and become a lifestyle. The way of producers, profashion and antifashion in

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Cosmopolitan Kuta negotiating in hegemony of global fashion and clothing discourse with directional flexibility, fluctuating and extreme feasibility attitude. The novelties is FRANGIPANI, The Secret Steps of Art Fashion based on culture identity of Bali.

Key words: Global fashion and clothing discourse, hegemony, Cosmopolitan Kuta

INTRODUCTION

The discourse on the global fashion and clothing in cosmopolitan Kuta is interesting as well as confusing. In the daily discussion, the words fashion and clothing have the same meaning. They form a complicated network and are similar to and overlap each other

(Weittgenstein, 1958: 66-7). The discourse on fashion is not only viewed from clothing but it is also related to the meaning of the contemporary fashion proposed by Barnard. Being contemporary refers to clothing and artifacts such as interior, exterior, architecture and fashion accessories (Barnard, 2011). Anthropologically, clothing is related to its basic function to protect the general worlds unfriendliness such as the hot and cold weather (Flugel, 1930:70). Cosmopolitan Kuta that including Kuta and North Kuta as locality that touched directly by capitalism global economy in transnational business already transformed since monetary crisis on 1997 until 2012. Elaborating some culture element and lifestyle with high complexity in form of model of production circle fashion global and clothing, appearance of pro-fashion and anti-fashion. Global fashion and clothing discourse creating singularity in local, national even international. The problems of the study can be formulated in three questions. They are (1) what

discourse led to the global fashion and clothing in cosmopolitan Kuta; (2) how the global fashion and clothing dominated the design of the products of the global fashion and clothing in cosmopolitan Kuta; (3) what strategies were used by those who agreed and disagreed with and

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the producers of the global fashion and clothing to face such a discourse?

The purpose of this research is answering the formulation of the problems and understanding in theoretical how global fashion and clothing discourse make hegemony in the life of producers, pro-fashion and anti-fashion in Cosmopolitan Kuta. This research hopefully can give a knowledge especially about global fashion and clothing discourse also constructing in citizen of Cosmopolitan Kuta. Mainly as space of culture studies research also find the ideology that hide in capitalism

hegemony practices of global economy in citizen of cosmopolitan Kuta.

RESEARCH METHOD

This research is qualitative interpretative and designed as culture studies research with postmodern fashion design approach. Method that used is qualitative method with the main instrument is the researcher be equipped with interview guidelines. The data were analyzed using the model of interactive analysis based on the theory proposed by Miles and Huberman (Sutopo, 1996:85). The data were reduced as needed. Continued with presenting the data systematically.

DISSCUSION

The results of the study show that the psychological, hegemonic and latent attitudes were inspired by the discourse on globalization, the discourse on the globalized economic capitalism, and the discourse on cosmopolitanism. Such discourses constituted the cosmopolitan situation of Kuta which were countered by negotiation and peace. The floating attitude as a form of defense in an extreme fluctuating condition led to directional feasibility and flexibility. The discourse on the global fashion and clothing were constructed for fifteen years, that is, from 1997 to 2012 in cosmopolitan Kuta. It can be concluded that

the informants of the study included the producers, those who agreed and disagreed with the global fashion and clothing, the interior

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designers, the fashion designers, the architects, the landscape designers, the fine art artists, the garment owners, the boutique owners, the local and international communities.

The producers, being inspired by the extreme fluctuating way of thinking, regarded that the purchasing orders they received from the domestic and foreign buyers were gifts. Such a hegemonic psychological condition which would lead to the latent condition was getting stronger; finally, it would become a new way of life. The space without partition where the global fashion and clothing producers became

mixed with those who were involved in the local, national and international fashion caused cosmopolitan Kuta to be one of the windows for arts and design in Indonesia. The life style of the producers, especially the designers of fashion was becoming dilemmatic; whether they would follow the globalization current or maintain idealism.

The global fashion and clothing companies grew rapidly; they were local companies but they were owned by foreigners. That was made to be possible by the governments regulations which were easily designed; as an illustration, the term nominee was wrongly used. The hidden cycle of the production of the global fashion and clothing which was managed by the cosmopolitan community of Kuta (foreigners, local and indigenous people) was responsible for the loss of the foreign exchange. Global fashion and clothing in cosmopolitan Kuta became degraded through four stages in the cycle of the globalized economic

capitalism, as far as the products of the global fashion and clothing were concerned. They became degraded in the level of the buyer (stage 1), in the level of the buyer representative (stage 2), in the level of the agent (level 3), and in the level of the agent representative (level 4). The oligopolistic narration created by the cultural conglomeration was not explicitly seen in cosmopolitan Kuta. However, a half of the cycle of the production of the global fashion and clothing showed that the

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cosmopolitan community of Kuta was a community where the creative sample products were localized to meet the local, national and foreign orders.

The way of thinking of those who agreed with fashion changed as the multiple value of the exchange rate since the monetary crisis led to a mental shock. Those who agreed with fashion were highly feasible and adaptive; they made themselves smart when they used the global fashion and clothing in the capitalistic globalization era. The simpler materials were used in the design of the applied art products as the

value which could be covered with those who disagreed with fashion in cosmopolitan Kuta was adjusted to the developing economic situation. Then the cosmopolites appeared such as models, fashion designers, interior designers, landscape designers, and fine art artists. They worked and even resided permanently in cosmopolitan Kuta under the ambiguous regulation system. They dominantly came from Italy, Australia, America, Germany, and Holland.

The local people, who agreed with fashion in cosmopolitan Kuta, as far as the ideological domain was concerned, were responsive enough. The global fashion and clothing were defined as a communal identity with an argument that the Balinese traditional textile such as the global fashion and clothing worn uniformly by the family welfare groups of women (PKK), the gong groups, the youth organization members, the banjar members, and the members of the other social

organizations. The globalized economic capitalism was defined as something which was positive by those who agreed with fashion as it could not be separated from the world of the global fashion and clothing; however, many disagreed with fashion as the local products became uprooted and were replaced by the cheap imported products. Being fashionable was defined by those who agreed with fashion, both indigenous and local, as being up to date to the developing style. There was sometimes an impression that forcing one s self and using the

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global fashion products and clothing improperly led to a new life style, that is, communication through fashion.

The static attitude of those who disagreed with fashion resulted from the fact that they were only interested in the standard and traditional global fashion and clothing. The adaptive attitude to respond to the global fashion and clothing products tended to be stagnant. The reason was that those who disagreed with fashion psychologically did not trust themselves when exploring the world of the global fashion and clothing. The global fashion and clothing became

related to the ideological domain if connected with those who disagreed with the cosmopolitan community of Kuta as could be seen from the inform worn by the members of several rural organizations. The perspective of the globalized economic capitalism of those who disagreed with fashion was not personally influential; however, globally it was felt that it was hegemonic enough. The reason was that the traditional way of thinking was still dominant. The feeling of being inferior and the fact that those who disagreed with fashion at the cosmopolitan community of Kuta was shown through a flat behavior; even they showed antipathy towards the development of the global fashion and clothing. They liked a comfortable place better than being fashionable. The directional flexible attitude took place in the community of those who disagreed with fashion in cosmopolitan Kuta.

CONCLUSION AND SUGGESTION

The conclusions of this research are cosmopolitan Kuta as a showcase of design products of global fashion and clothing in Indonesia, as "locality product creative samples", have a lifestyle as a world citizen,

have an attitude of fluctuating extremes nor fairness and directional flexibility when make a deal with global economy capitalism as well as in absorb foreign cultures. Discourse about global fashion and clothes

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in cosmopolitan Kuta can be used as reflector to determine the turning points and the defense of citizen life.

The novelties as the answer to the problem related to the cycle of the production of the global fashion and clothing products in cosmopolitan Kuta was FRANGIPANI, The Secret Steps of Art Fashion that described into ten steps of designing fashion products based on culture identity of Bali. Those ten steps are as follows; (1) Finding the brief idea based on Balinese Culture ,(2) Researching and Sourcing of Art Fashion , (3) Analyze Art Fashion Element taken from

the Richness of Balinese Culture, (4) Narrating of Art Fashion Idea by 2D or 3D Visualization , (5) Giving a soul Taksu to Art Fashion Idea by Making Sample, Dummy, and Construction , (6) Interpreting of Singularity Art Fashion will be Showed in The Final Collection , (7) Promoting and Making a Unique Art Fashion , (8) Affirmation Branding, (9) Navigating Art Fashion Production by Humanist Capitalism Method, (10) Introducing the Art Fashion Business.

Based on those conclusion and novelty are suggested to know the discourse of the global fashion and clothing products taking place at the cosmopolitan community of Kuta as it can be used as the personal and communal turning point. In addition, it is also a movement of equality which can be used to show self-existence by fully recognizing that the position is 1 to 3; that is, the traditional value is proportional to

globalization, and globalized economic capitalism which cannot be neglected as far as the Balinese history is concerned.

ACKNOWLEDGEMENT

Gratitude to Tuhan Yang Maha Esa, Ida Sang Hyang Widhi Wasa for the blessed in this research process. Thank to Prof.Dr. I Nyoman Darma Putra,M.Litt., as promoter, Prof.Dr.Ir. Sulistyawati, M.S.,M.M.,M.Mis.,D.Th, as co-promoter I, Prof.Dr. I Gede Arya Sugiartha,S.SKar,M.Hum, as co-promoter II that full of attention in

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teaching, motivating giving support and suggestion during researcher doctoral program especially in completing this dissertation. And also thanks to all informant and all part that support this dissertation. This research will be meaningless without support from ISI Denpasar, family, best friends, partner especially team of Fashion Design ISI Denpasar, for that researcher would like to say thank for the support.

References

1. Barnard, Malcom. 2011. Fashion Sebagai Komunikasi. Yogyakarta: Jalasutra

2. Flgel, J. C,. 1950. The Psychology of Clothes. Ed. 3. London: The Hogarth Press dan The Institute of Psychoanalysis

3. Ratna Cora, Tjok Istri. 2011. Wacana Fesyen Global dan Pakaian di Kosmopolitan Kuta, disertasi, Program Doktor, Program Studi Kajian Budaya, Program Pascasarjana Universitas Udayana, Denpasar

4. Sutopo, Heribertus B., 1996. Metodologi Penelitian Kualitatif. Surakarta: Universitas Sebelas Maret Surakarta

5. Wittgenstein, L., 1958. Philosophical Investigations. Oxford : Blackwell

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LEARNER-AUTONOMY : TRANSITION TOWARDS SELF-

DIRECTED LEARNING

Dr. B. Krishna Chandra Keerthi Assistant Professor in English

Dr. V. S. K. G. D. C. (A) Visakhapatnam

Abstract

Learning has been a complex, muti-polar process since ages. Learning takes place irrespective of the mani-fold dimensions, varied perspectives and diverse limiting factors such as age, intelligence quotient, maturity level, sex, social, economic and cultural backgrounds. It is a continuous and life long process. In sharp contrast to the traditional teacher-centred method which has been in vogue over centuries, the learner-centred method is a revolutionary trend in the

teaching-learning process. The authoritarian approach calls for an over whelming, domineering, influential, over-powering, charismatic and all-in-one / all-in-one personality of the teacher casting and wielding a mesmerising, magnetic and an indelible impact on his pupils/disciples leaving them as desperate and despondent dependents on him. The teacher continued to be the decisive figure designing and framing the content, resource materials, methodology, activities, tasks and procedures of evaluation making the learners passive listeners. With the changing times, dynamism has made its way into the learning mechanism providing the much needed impetus, momentum and the right platform for the shift of focus and attention towards the learners from the teacher. This raised and initiated many a point for discussion, debate and argument. The new orientation includes a certain transformation in the roles of both the learners and the teacher involving the learners in the learning process, making them active

participants as well as partners in every sphere of teaching-learning activity making them responsible, self-directed and autonomous

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learners, which in fact leaves the teacher over burdened rather than relieved of his charge for enabling, guiding, directing and steering his wards to their new roles.. This transition among learners heading for the better is an interesting and a welcome note as well.

Language learning is a skill to be acquired on contrary to the content subjects where knowledge can be acquired through different ways and means including that of rote learning. Various methods are being

practised for the teaching of English language such as oral approach, aural-oral approach, situational approach, communicative approach, structural method, inductive-deductive method, direct method, grammar translation method and bi-lingual method. In all these traditional and conventional approaches and methods the teacher continues to be the authoritarian playing the lead role, dictating the terms, devising, designing and deciding everything with respect to content, methodology, activities/tasks and even the procedures of evaluation. The over possessed learner remained as a mere spectator, a passive listener and a tool in the hands of the teacher. The students continue to depend on their teacher unable to think of any other alternative. They lack confidence in themselves nor are they prepared for peer group learning. The English language teaching-learning is beset with so many intricacies and challenges which need keen

attention. Even though English has become a part and parcel of our life, the phobia and distancing continue to persist. Firstly, the shift of focus from the traditional authoritarian role of the teacher to the learner centred, learning centred, experiential / participatory learning modes is the need of the hour and order of the day. The language learning seeks dynamic initiative on the part of the learner towards the self-driven, goal-directed behaviour with the much needed impetus and momentum provided by the teacher in the new changed role as a facilitator, director and guide. This article presents several issues from a multitude of directions pertaining to language teaching learning

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mechanism throwing light on the transition of the learner towards self directed learning in the backdrop of the classroom dynamics at large.

Learner-Centredness : Teaching for the students and planning teaching keeping the students at the centre are entirely different. The concept of learner-centredness involves the learner as a key figure around which the whole process of teaching-learning revolves. Learner participation, active involvement, and partnership in the teaching-learning process reflect the learner-oriented methodology. Learner-centredness is also inclusive of learner responsibility which in turn

takes the form of learner autonomy. When the learners know about the nature of the language learning and the difference that their contribution can make, they need some practice to act as responsible learners and they try to take over some roles from the teacher and enjoy the freedom that comes with the increased responsibility. The learner-centred view tends to view language acquisition as a process of acquiring skills rather than a body of knowledge. Proponents of learner-centred curricula are interested in assisting the learners gain the communicative and linguistic skills they need to carry out real-world tasks than in enabling the learners acquire the totality of the language.

Responsibility vs. Autonomy : Responsibility and autonomy are two sides of the same coin. Both are inseparable and interrelated. Autonomy is the freedom and ability to look after ones own affairs and also the right to make decisions. On the other hand responsibility implies keeping one in charge of something where one has to face and is

concerned with the consequences of his own actions. Personality traits, preferred learning styles and cultural attitudes set constraints to the development of autonomy. Responsibility and autonomy mark the learner-centred pedagogy. However some students may be averse to taking the initiative of self-learning and self growth which may lead to autonomy. Such students tend to be over dependent on their teacher.

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So its the look out of the teacher to develop responsible attitudes in his students and to do so he must shed his old conventional /traditional role that of an authoritarian and assume the new role of a facilitator /counsellor.

The teacher in his traditional authoritarian role is considered to be rigid, knowledgeable, transmitter of the knowledge, responsible and accountable for the learning of his students and so believes that he has

the ability and expertise to make right options, judgements and related to the learning of his students.

On the other hand in the learner-centred approach the teacher and the learner both have flexibility and both are learners. The teacher and the taught discuss and share everything related to teaching and learning process and each stage of framing the content, the methodology, resources, tasks/activities and the procedures of evaluation. The teacher accepts the self-directed learning of the learner and also that he is responsible for his own learning can take correct decisions that suit him. He confines himself to the background plays the role of director, the man behind the curtain, a mere facilitator providing him resources and support and enabling the learner to learn.

The learning will be successful when the learners develop a sense of responsibility and an attitude for autonomy and prepare themselves for

inviting the challenges in the new roles. But the learners hesitate to accept changes and even oppose for many reasons such as the uncertainties and risks involved in the changes, overdependence on their teacher and the fear complex to act independently. The teachers and the parents may also be against the increase of learner involvement because of their apprehensions that it leads to disorder, lack of respect for elders, and loss of the teachers authority.

Motivation and Autonomy : Motivation and Autonomy both are alike and are prerequisites to learning and enhance the rate and pace of

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learning playing the catalytic role. Besides these self-confidence, self evaluation (auto correction), learning strategies, cooperation and group cohesion are the factors which contribute to learning and promote learning.

Self-confidence : Self-confidence boosts the morale of the learners and enables them to learn on their own with greater sense of responsibility instead of relying too much on their teacher for even the petty trivial issues.

Self-Evaluation : The learners checking, monitoring and a thorough examination of their contribution to their own learning. Self-evaluation

requires the learners to play the role of their teachers and assess their own work and assignments impartially and objectively. The learners set targets for themselves, own them and feel responsibility for achieving them.

Learning strategies : Learning strategies are different means which are instrumental in acquiring language competence and the learners are to be encouraged to choose one from among those available that suits their needs and interests and guide them to discover them how and when to use these strategies.

Promotion of cooperation : Promotion of cooperation in the classroom affects learner attitudes. The learners rely on each other rather than on their teacher. Pair work and group work foster active involvement of learners, encourage collaborative learning along with providing ample opportunities for taking feed back from their peers.

Teacher Attitude : The teachers must have willingness to offer partnership to learners for achieving common goals, consistency in control and readiness to delegate tasks and decisions.

Sharing and Exchange of information with the Learners : By coming forward to share relevant information with the learners the

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teachers show respect and regard the learners as partners in achieving the common aim of learning a foreign language. The teachers discuss both long term and short term objectives and also the aims of every activity there by promoting a sense of responsibility among the learners.

Consistent Control : Expectations towards the learners, the limits of acceptable behaviour and the consequences of failure to live up to the expectations. Consistent application of rules prompt the learners to adhere to the rules.

Delegation of Tasks and Decisions : The learners are not professional teachers. They are sure to commit mistakes in their selection and implementation of tasks and in their decisions. However this should not be considered and the learners need to be encouraged and given free hand.

When the teacher decides to keep himself behind the screen, transfer his role at least partially, delegate his responsibility to his students, confine himself as a facilitator, convener, moderator and director keeping the learners at the centre, focussing his attention on them, planning and designing the entire teaching-learning program through a series of graded tasks / activities which sometimes are self-explanatory and in other cases unfold themselves after serious attempts and efforts then only the learners become active participants and partners in the learning process. Such instances prompt the learner responsibility and they begin to feel that they are crucial and instrumental to progress in learning, behave and respond accordingly and co-operate with their

teachers and peers, learn mutually and even come up with ideas of improving the tasks.

Activities : The three basic features that each activity contains are :

a) Difficulty of the activity in terms of the language proficiency.

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b) Attitude or skill the activity is designed to tackle.

c) Language focus includes other curricular such as grammar practice and sub skills of listening, speaking, reading and writing.

d) Preparation part consists of materials or devices needed for the activity.

Learner-centred methodology initiates and boosts learner autonomy /

responsibility which means learning takes place along with the teacher and not from the teacher. This does not however entail the learners with too high expectations which can prove to be disastrous. So a careful, gradual involvement can increase their motivation and interest.

Some activities expose the learners to new ways of thinking about their learning, some activities to old routine habits and some other activities enable them to discover new aspects of learning. The efficiency of teaching depends on many factors such as learners motivation, interest, readiness, skills, ability and willingness to cooperate and work as a group or community. The learners explore to realise how they can contribute to their own learning.

Before proceeding to provide the learners with varied contexts for their autonomous guided phased learning the teacher must know the existing attitudes and previous knowledge of his learners. By

emphasising the skills and knowledge that they already possess the learners get confidence and are motivated. The teacher can devise some experiments to introduce learning strategies, to sort out those that work best for them in their learning. Contexts may also be provided by the teacher for the learners to seek and offer help and cooperation, encourage exchange and sharing of views and ideas in the group and from the peers. Some other contexts may lead them to think about their learning styles and the diverse preferences for learning strategies exercised by their peers.

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Learner Autonomy : It refers to a certain mode of study or to a qualitative involvement of learners, various forms of independent or self-directed learning involving limited teacher intervention and generally outside a traditional classroom setting. It also relates to notions of awareness of learning goals, participation in decision-making, and personal assumption of responsibility.

Learner autonomy is a part of learner-centred system. Wenden describes the autonomous learner as the one who : ...... has acquired the strategies and knowledge to take some (if not yet all )responsibility

for her language learning and is willing and self-confident enough to do so. ( 1991:163 )

Crabbe identifies three main reasons for fostering learner autonomy.

The argument on ideological plane is that :

..... the individual has the right to be free to exercise his or her own choices, in learning as in other areas, and not become a victim (even an unwitting one) of choices made by social institutions. (1993 : 443)

Crabbes second argument is psychological and :

........ is simply that we learn better when we are in charge of our own learning (and that the resultant learning) is more meaningful, more permanent, more focussed on the processes and schemata of the individual when the individual is in charge. (Op.cit : 443)

Crabbes third argument is economic and is based in the presumption that :

.... society does not have the resources to provide the level of personal instruction needed by all its members in every area of learning (so that) individuals must be able to provide for their own learning needs ..... (Op.cit :443)

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Huttenen (1986 : 232) defines autonomy as the willingness and ability of the learner to take responsibility for his own learning.

Dickinson identifies five characteristics of autonomous learners :

1. They understand what is being taught.

2. They are able to formulate their own learning objectives.

3. They are able to select and make use of appropriate learning strategies.

4. They are able to monitor their use of these strategies.

5. They are able to self-assess, or monitor their own learning. ( 1993 : 330-331 )

Interest in learner autonomy, and in the closely related area of learner training, has moved language teaching in a learner-centred direction in four ways.

1. The language teaching identifies the central role which the learners can and should play in the management of their language study.

2. Focus or attention of language teaching profession on the development of pedagogical procedures which motivate and enable the learners to become active participants in the learning process.

3. By focussing attention of the language teaching community on learning processes in addition to learning products, it has generated interest in those learner-specific factors which influence learners

interaction with various aspects of language study.

4. It has also led to reflection on the interaction between learners cultural background and expectations, and their perception of autonomy.

Learners explore both their objective and subjective needs in collaboration with their teacher as part of a shared process of discovery.

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The concept of learner-centred curriculum has integrated within a coherent planning framework many insights such as relevance of content, flexibility of learning and the strategic involvement of learners.

Three perspectives of learner-centredness are learner-centredness as a principle for activity organisation, learner autonomy, and the learner-centred curriculum.

1. A learner centred approach accepts and seeks to learn from the perspectives on language teaching contained in any method or approach, as well as from the insights teachers derive from their everyday teaching experience, it does this in the belief that openness to a variety of experiences and insights makes the language teacher better able to respond to local needs.

2. A learner-centred approach positively accepts diversity between learners, learning contexts and learning goals.

3. A learner-centred approach is concerned in the first instance with the learners involved and with the quality of their learning.

4. A learner-centred approach is open to insights from any source, within or outside language teaching, providing better understanding of the needs of learners is achieved and more effective teaching and learning procedures are identified.

5. A learner-centred approach generates a healthy dissatisfaction with current practice, as it maintains that there is no once-and-forall right answer, but only appropriate, local responses to local needs.

6. A learner-centred approach seeks coherence in terms of the adequacy of its response to the needs of each new group of learners.

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References

1. Wenden, A. 1991. Learner Strategies for Learner Autonomy. Hemel Hempstead : Prentice Hall.

2. Crabbe, D. 1993. Fostering Autonomy from within the Classroom : The Teachers Responsibility. SYSTEM 21 : 443-52.

3. Huttenen, I. 1986. Towards Learner Autonomy in Foreign Language Learning in Senior Secondary Schools. Oulu : Acta Universities Ouluensis.

4. Dickinson, L. 1993. Aspects of Autonomous Learning, ELT Journal 47 : 330- 36.

5. Tudor, Ian. 2009. Learner-Centredness as Language Education.

6. Nunan, David. 1996. The Learner-Centred Curriculum.

7. Scharle, Agota and Szabo, Anita. 2001. Learner Autonomy.

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A STUDY ON FUTURE PROSPECTS AND CHALLENGES

OF ISLAMIC BANKING SYSTEM IN INDIA

Delawar Hussain Research Scholar

Shibpur Dinobundhoo College (Institution)

Howrah

Dr. Amit Majumdar Assistant Professor St.III

(Reader) of Commerce Bijoy Krishna Girls College

Howrah

Abstract

Islamic banking refers to that banking system which is based on the Islamic principles (i.e. Shariah Law) that put emphasis on moral and ethical values. Islamic banking prohibits interest (Riba) in lending and accepting of money but promote profit sharing. India being the 3rd most Muslims populated country in the world facing some serious challenges to adopt Islamic banking system though it has a very fine future prospect. Islamic banking has established itself as a choice of banking alongside the conventional interest-based banking, and it has been

expanding rapidly over the last two decades in both Muslim and non-Muslim countries Such as Germany, UK, USA, France and Singapore. In this paper a market analysis has been done by using SWOT analysis and Michael Porter five forces model. The findings from the study reveals that Islamic banking could be adopted as an alternative to conventional banking but amendment is needed in existing banking law of the country. Islamic banking could bring financial inclusion to those Muslims customers who are reluctant to conventional banking due to religious belief. Moreover, India has the opportunity to gather foreign fund from Islamic countries by introducing Islamic banking system that could help in the growth and economic development of our country.

Keywords: Islamic Banking; Shariah Law; Riba

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Introduction

Islamic banking system is the banking system that is based on the Islamic principle (i.e. Shariah law) and guided by the Islamic economics. It is also known as interest free banking or finance, is a banking system, which promotes profit sharing, but prohibits the charging and paying of interest. Islamic banking principles put emphasis on moral and ethical values in all its dealings and it operates in accordance with the rules of Shariah, known as Fiqh al-Muamalat(Islamic rules on transactions).

Islamic Banking System derived from three sources

Quran: revelation from Allah

Sunnah: authentication saying & actions of prophet Mohammad (Sallalaho alehi wasalam)

Figh: collection of interpretation/ ruling/ percepts based on Sunnah

A popular belief persist that Islamic banking is simply an interest free financial structure but infect Islamic economics is the complete system of social and economic justice. It deals with property right, the incentive system, allocation of resources, freedom of decisions making and proper role of government. According to the Islamic law interest leads to inflation and accumulation of interest leads to widening the gap between rich and poor. Even in Islamic Mortgage transaction, instead to loaning the money to buyer, a Bank might buy the item at a profit while allowing the buyer to pay to bank in installment.

The Quran says, Allah has permitted trade but forbidden riba i.e. interest. (2:275). Therefore it is the only fix and predetermines return of saving that is forbidden not an uncertain rate of return that is profit.

Islamic banking systems based on the some basic Islamic principles (i.e. Shariah law) are;

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Interest (known as Riba) on both payment and receipt is

strictly prohibited (haram).

The system is fully based on profit and loss sharing.

The Shari'ah law does not permit investment in certain industries such as Adult entertainment, Alcohol, sale of pork and Gambling. According to Islamic principle it is Haram to invest in these industries. This is why Islamic Banking is also referred to as Ethical banking system.

Gharar (Uncertainty, Risk or Speculation) is also prohibited.

Trading in debt is also not allowed, which is why Banks do not deal in traditional bonds; rather they have their own version of such instruments called Sukuk (Islamic Bond).

Interest free loans (Qard Hasan) are encouraged to spread financial inclusion.

The following are the methods of financing operates under Islamic Banking System

Musharakah (joint Venture): Musharakah is an agreement between the Islamic bank and its partner, whereby each partner provides funds to be used in a venture. The profits that are generated are shared between the partners according to the invested capital. Islamic bank also hare the risk with the

partners in case of loss.

Mudarabah (profit sharing): Mudarabah is a contract, where Islamic banks provide capital to another party in order for them

to invest in a commercial enterprise. Any profits generated as a result of the investment are generally determined by pre-agreed conditions. In contrast to Musharakah, under profit sharing, only Islamic banks may incur a loss.

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Murabahah (cost plus sale): Murabahah refers to the sale of

goods at a price, which includes a profit margin agreed to by both parties. The purchasing and selling price, other costs, and the profit margin must be clearly stated at the time of the sale agreement. The bank is compensated for the time value of its money in the form of the profit margin.

Ijarah (lease): Ijarah refers to the lease of assets and equipment such as office equipment and motor vehicles. Under Ijarah, the Bank rents assets to the customer, for a fixed period and price.

Bai Salam (Forward purchasing): Bai salam means a contract in which advance payment is made for goods to be delivered later on. The seller undertakes to supply some specific goods to the buyer at a future date in exchange of an advance price fully paid at the time of contract.

Istisna: This is second type of forward sale contract allows an Islamic financial institution to buy a project (on behalf of buyer) that is under construction and will be completed and deliver on future date.

Sukuk (Islamic bonds): Sukuk are the financial certificates that share some similarities with conventional bonds hence are also commonly referred to as Islamic Bonds. A major difference between conventional bonds and sukuk is the structure of sukuk removes interest based elements.

Qard Hasan (Good loan): Qard Hassan is a loan extended on a goodwill basis. Under a good loan, the borrower is only required to repay the amount borrowed.

Wadiah (safe keeping): Wadiah refers to the practice of safeguarding deposits. When a depositor places funds into the

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bank, the bank guarantees to repay the depositor the amount of the deposit whenever it is demanded to do so.

Hibah (gift): Hibah is a voluntary gift given by an Islamic bank to a depositor in return for a loan. Banks reward depositors with Hibah as a Thank You for permitting them to use the money in their savings account.

Objective of the Study

The objective of the present paper is to make an inroad into the development of Islamic Banking concept in the World in general and in India in particular. Moreover, the present study has been taken with an objective to envisage on the problems and prospects of the Islamic Banking concept in India, the country having third largest Muslim populations in the World.

A Presence of Islamic Banking System in World

The first model of Islamic banking system came into picture in 1963 in Egypt. Ahmad Al Najjar was the founder of this Islamic bank and the key features of this bank was profit sharing on the non interest based

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philosophy of the Islamic Shariah. In 1974, the Organization of Islamic Countries (OIC) had established the first Islamic bank called the Islamic Development Bank or IDB. The basic business model of this bank was to provide financial assistance and support on profit sharing.

By the end of 1970, several Islamic banking systems have been established throughout the Muslim world, including the first private commercial bank in Dubai(1975), the Bahrain Islamic bank(1979) and the Faisal Islamic bank of Sudan (1977). And thereafter several Islamic banks were formed in both Muslims and non-Muslims countries. Figh council of the OIC declares Takaful as the fully Islamic providing the way for Islamic insurance to flourish (1985). In 1991 Accounting and

Auditing Organization for Islamic Financial Institution (AAOIFI) were established. This institute acts as a nodal body advising on standard to be followed worldwide.

Islamic banks operate worldwide in over 75 countries mostly in Middle East and Southeast Asia, with Bahrain and Malaysia as the biggest hubs. Islamic banking has established itself as a choice of banking alongside the conventional interest-based banking, and it has been expanding rapidly over the last two decades in both Muslim and non-Muslim countries. Many developed countries of the world, such as Germany, UK, USA, France and Singapore have embraced Islamic Banking to take the tally of countries where this form of banking is already operational as an alternative system.

The exceptional growth rate and robust performance of the Islamic banking and financial sector has attracted the attention of several nations, even developed western nations like UK are promoting Islamic

finance, following the principle of no favor but no discrimination. Formal Prime Minister Goden Brown introduced Islamic banking in UK when he was the finance minster. Mr. Brown predicted that London would be future gate way of Islamic banking. The result today justify his prediction, at a time when other Banks are facing closure the

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Islamic Bank of Britain is expanding its network in UK and asking the to do the same in European countries.

The positive perception of customers especially among non-Muslims towards Islamic banking, especially due to the fact that Islamic banks have to compete with conventional banks that have long existed in the dual banking system. In its initial years, the response to Islamic banking was mainly from a market segment of Muslims who were concerned about practicing Islamic principles in all spheres including banking whilst notable efforts were made to market the Islamic banking products to the non-Muslims. Apparently, in recent years, non-Muslims have become the major users of Islamic banking products and

services. A report of Husin (2008) stated that non-Muslims have gradually become the major users of Islamic banking in Malaysia, indicated by the banks such as the Hong Leong Islamic Bank, Oversea-Chinese Banking Corporation (OCBC) and even the Malaysian Cooperative Bank (Bank Rakyat) have reported a 70 percent uptake of Islamic financial products by Chinese customers. This indicates the degree of acceptance of Islamic banking among the Chinese community in Malaysia as their choice in banking transactions. Today many big multinational banks including HSBC Amanah, Standard Chartered Saadiq, Lloyds TSB Bank and Citigroup offer products in accordance with Islamic Banking principles.

The progress of Islamic Banking system in the World at a glance

Islamic banking is operational in more than 75 countries in the world.

EY analyzed the sentiment of over 2.2 million customers social media posts on their banking experiences with Islamic banks in Saudi Arabia, Bahrain, Kuwait, UAE, Malaysia, Indonesia,

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Turkey, Qatar and Oman. The results showed that customer satisfaction is mediocre for many Islamic banks.

International Islamic banking assets with commercial banks set to exceed US$778b in 2014.

The global profit pool of Islamic banks is set to triple by 2019.

Islamic banking assets in six core markets Qatar, Indonesia, Saudi Arabia, Malaysia, UAE, Turkey on course to touch US$1.8t by 2019.

Global Islamic banking assets witnessed a compounded annual growth rate (CAGR) of around 17% from 2009 to 2013.

Islamic banks in Saudi Arabia, Kuwait and Bahrain represent more than 48.9%, 44.6% and 27.7% market share respectively.

Positive progress has been has made in Indonesia, Turkey and Pakistan, with 43.5%, 18.7% and 22.0% CAGR respectively from 2009-2013.

Islamic Banking System in India

Islamic Banking still seems to be a strange concept in India though the most worlds developed nation embarrassing it as an alternative to conventional banking. Despite its impressive growth in the other part of the world such as Middle East, South East Asia and Europe, countries like UK, USA and Singapore. It is yet to find the favor with Indian authority.

Over the last decade a number of considerable changes have occurred in Indian banking sector to lift up the efficiency and productivity of banks as a whole. With the objective to reach banking system more and more people, in 2005 Reserve Bank of India (RBI) had constituted a committee headed by Anand Sinha, deputy director of RBI, to examine

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the financial instruments used in Islamic banking. The committee gave two observations.

Appropriate modification is required in Banking Regulation Act 1949 along with separate rules and regulation.

Taxation proposition have to be examined.

RBI rejected the idea of Islamic banking by saying it is not feasible for Indian banks under existing condition without making amendment in current law.

In 2008, the planning commission of India appointed a committee on financial sector reforms headed by Dr. Raghuram Rajan, the committee recommended the introduction of interest-free finance and banking as part of mainstream banking in the interest of inclusive and innovative growth. The committee believed that it would be possible only through appropriate measures to create a frame work for such products without any adverse systematic risk impact.

Another significant development has taken place in the state of Kerala; KSIDC (Kerala State Industrial Development Corporation) a wholly State development company has taken a courageous step to get into agreement with Al-Barakah Group to offer shariah complaint to Muslim community. Subramaniam Swamy, a leader of Janata party has submitted a petition in the High court to stop the participation of the Kerala Government. Admission to this petition has put a hold on the

proceeding to the long time.

Today, Islamic banking has a presence in India in the form of NBFCs and Baitul-Mal (Islamic treasury) but the business is small. These institutions mostly work at the regional level, catering to a niche segment. Further, Kerala Government- owned KSIDC has started AL-Barakah Financial services ltd, GIC of India runs an Islamic reassurance scheme, and several mutual fund scheme invest explicitly

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in compliance with Islamic rules. TASIS, an index on Bombay stock exchange representing only shariah -compliant stocks, is the first of its kind in India. The recent go ahead from the Reserve Bank of India the Kerala government for the launch of first Islamic bank in the region is a positive step forward.

The prospects of Islamic Banking System in India

Islamic banking for inclusive Growth: Islamic Banking has the potential to docile the problems relating to inflation along with prioritized inclusive growth. In the recent years Indian economy has been growing and the financial sector in the GDP has gone up. It is more favorable to the corporate sector than the vast portion of population living below poverty line. The extension of debt finance by commercial banks and interest rate sensitivity to inflation are well known. Islamic bank assist in equitable distribution of income by encouraging equity finance unlike the conventional banking. The

dividend shared by depositors on equity finance helps equitable distribution of income generated by financial sector which actually helps in promoting concentration of wealth.

Despite the focus on industrialization, agriculture remains a dominant sector of the Indian economy both in terms of contribution to GDP as well as a source of employment to millions across the country. No equivalent growth of workmen and the growth of service sector rather the developing economy has become suicidal economy for them. According to BBC News, 2,00,000 farmers have committed suicide in India since 1997. The main reason for these tragic ends to life is failure to pay interest-ridden debt, for betterment of the situation interest free system could play a key role. In this regard, Islamic product like Bai Salam and Istisna may be used for the benefits of farmers.

Islamic banking could also help in lending to small unorganized sector due to its non-insistence on collateral as a precondition for lending even

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small sum of money. This would also change the desperate labour-capital ratios in rural India, in particular, in States like Uttar Pradesh, Bihar, West Bengal and the seven sisters of North East.

Islamic banking and financial inclusion: According to the report presented by Sachar Committee, on socio-economic status of Muslims in India, reveals that Muslims are the most disadvantageous community in financial sector. Due to the interest based deposit and credit system of commercial banks and financial institution, 50% Muslims are financially excluded. The report also reveals that the participation of Muslims employees in banking sector in very less. Only 0.78% and 2.2% 0f employees of RBI and SCBs are Muslims. Similarly specialized institutions like SIDIBI, NABARD and NMDFC the participation of Muslims employees are negligible. Hard to believe but

true that even in institute like, National Minority Development Financial Corporation (NMDFC) have no Muslim manager.

At present Muslims is the second largest community in India having population more than 172million which is account for 14.2% of total population. Hard to belief that according to Sachar Committee Report Indian Muslims have merely a share of 7.4% in saving deposits while just get 4.7% in credit terms. There are several reasons for this state of affairs Muslims hesitates to enter in interest based transaction. They try to develop their alternative means interest free society. Indian Muslims are looking forward for interest free banking in order to avail credit facility for their betterment. The incorporation of Islamic banking as an alternative to conventional banking may add millions of Muslims to formal financial sector and this may enable Banking sector to mobiles billions of dollars savings.

Investment opportunities form Gulf countries: Islamic banking could attract gulf countries to invest in India, as people from that region investing their surplus in shariah compliant institutions, at

present countries like Pakistan, Indonesia, and UK are getting

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benefited. However due to the manipulation in fund in recent past, they are looking for a safe investment destination. And India could be that destination because of its legal framework that protects the investors. India has huge market potential with managerial technique and skill full labours than countries like Pakistan and Indonesia, and these could catch the attention of the gulf investors.

Corporate sector and Islamic finance: India has been suffering from demand supply mismatch in terms of funding requirement to finance infrastructure projects. Introduction of Islamic finance can play crucial role in order to bridge the gap of funding infrastructure in India. Long term resources for the infrastructure sectors like irrigation, power, oil, and communication project could be faster and easier through Islamic banking. New modes of public, private partnership

may emerge.

Indian government has called for US$1 trillion infrastructure spending in the five years through 2017. According to planning commission, India is facing a fund gap of US$300 billion in meeting its infrastructure funding requirement until 2017. This viability gap continues to expand. Through the Islamic banking, equity fianc can be promoted from the national and international market and this can help in reducing the burden of keeping national current account and fiscal deficit under control.

Stock market capitalization: under Islamic banking system stock market of India is likely to be benefited, since Islamic banking focuses on equity finance, it is expected that stock market will preferred destination for investment by the Islamic bankers. At present our stock market attracting new investment under shariah based financial scheme. As experience shows that stock market is the safe and attracting mode of deploying equity fund. This may lead to flow millions of demat accounts.

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The hindrances for Islamic Banking System in India

Legal Hindrances: India's present laws obstruct the establishment of Islamic banking. Indian banking is governed by the Banking Regulation Act 1949, RBI Act 1934, and Cooperative Societies Act and Negotiable Instruments Act 1961. Many of the section of Banking Regulation Act oppose the Islamic banking principles

Section 21 of Indian Banking Regulation Act requires payments of interest which is against the Sariah law. Islamic banking is

completely interest free banking system.

Section 5&6 of the Banking Regulation Act disallowed Banks to enter into any profit sharing and partnership contract; this is the very basic principle of Islamic banking system.

Section 9 of Banking Regulation Act prohibits Banks to own any short of immovable property apart from private use this is against the Ijara

The interest earned on fixed deposits is subject to TDS as per the Income Tax Act 1961, whereas the profit on Islamic banking deposits is treated differently.

For meeting short term funding requirements commercial banks borrow from RBI or other banks. But Islamic banks cant do so because it involves interest.

Thus to allow interest free banking, considerable amount of changes in law need to be made. One way is to keep present law applicable for conventional banks and amends specific law should be applicable for Islamic banking.

Shortage of Islamic Banking Professionals: There is a serious shortage of Islamic bankers as well as scholars. Although few training institute has started to offer postgraduate diploma in Islamic banking

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and finance but they are not able to fulfill the shortage of experience Islamic banking professionals.

Lack of awareness: A common belief persists in the peoples that Islamic banking is only meant for Muslims which is not true, because in countries like Malaysia, UK, USA and others 40% customers of Islamic banks are non Muslims.

Political interference: Islamic banking is a political not financial argument in India. In an environment of minority vote-banking and distrustful political manipulation, any idea tagged with a religious prefix is doomed. it should be keep in mind that that Islamic banking is not a mandatory methodology imposed on all financial operations in the country. It is an additional choice for the investor, and nothing prohibits one from using different systems for different transactions.

Market Analysis for Islamic Banking System

SWOT Analysis: A SWOT analysis guides to identify the strength and weakness as well as broader opportunities and threats involved with the venture. Develop a fuller awareness of the situations help with both strategy planning and decision making. The SWOT analysis of Islamic banking in India is represented as follows.

STRENGHTH The huge Muslims

population in India (Around 14.2%)

Bridges the gap of income disparity

Increasing trend of demand for niche product in India.

WEAKNESS Lack of knowledge about

Islamic Banking. lack of expert personals Amendment in banking

law is required.

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OPPORTUNITIES

Growth of economy by inflow of investment from gulf countries.

Addresses to financial inclusion.

Upliftment of farmers and potential of inclusive growth.

THREATS May use as political

weapon. Against the secularism of

the nation. Microfinance is a good

competitor.

Thus, the strength and opportunities of Islamic banking in India beats the weakness and threats. Though the weaknesses can be removed very easily, developing the expertise and creating awareness about the system is just the matter of time. However due to the political loopholes and fundamentalist attitude of the few the debate on secularism may arise and last long.

Michael Porter Five Forces Analysis

Michael Porter`s five force model is a frame work to identify and analyze the internal and external factors that can have impact on the viability of an industrial structure. These five forces are.

Bargaining power of customers: Determining the difficulties and opportunities of a consumer to start competing.

Bargaining power of suppliers: emphasizing strength of supplier

Competitive rivalry among the existing players: competitive rivalry among the pre existing players

Threat of substitute products: effect of a homogeneous substitute

Threat for new entrants: opportunities and strengths of new entrants against the preexisting players.

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INTERNATIONAL JOURNAL OF MULTIDISCIPLINARY EDUCATIONAL RESEARCHISSN : 2277-7881; IMPACT FACTOR 3.318; IC VALUE:5.16; ISI VALUE:2.286 VOLUME 5, ISSUE 8(1), AUGUST 2016

The application of Porter`s five forces model on Islamic banking would show the result like this.

Suggestions:

As per RBI release it is clear that under current legal frameworkIslamic Banking is not possible, a great deal of change in law isneeded. India needs to follow UK example to govern the Islamicbanking by introducing new laws.

It needs to be clear that the scope of Islamic banking is not justconfined to the Muslims community. The awareness is required

to develop about Islamic banking as an alternative ethical formof banking system.

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A great deal of effort is required in the area of training and

education. This subject should be added in curriculum of the

professional courses.

Conclusion:

Islamic banking system has a great potential and fine prospect to grow and develop in Indian economic scenario. By not introducing Islamic finance, India is losing the opportunity to gather huge domestic and foreign fund. Islamic banking could bring financial inclusion to those Muslims customers who are reluctant to conventional banking due to religious belief. India has the opportunity gather fund from Islamic countries by introducing Islamic banking system and that could help in the growth and economic development of the country

A lot of amendments in the existing banking law of the country is needed to carry out in the legal provisions for setting up the path for its growth. Appropriate models need to be selected and implemented that serves the society`s diverse financial need. RBI should made a collaboration along with the reputed domestic and international banks in the process of determining and implementing Islamic banking products

At present no viable report or any project work is available on this issue. It would be advisable that the government should appoint a committee of expert professionals to study the prospects of Islamic banking in India. At the same time it is also necessary that vocal supporters of this issue should work jointly in the study, so that it should not be just consider as a religious issue but a beneficial financial alternative which would be beneficial in the growth and development of the country.

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References:

1. Ahmed, A. (2003), Introduction to Islamic banking in India; scope and challenges, Ed Javed Ahmed Khan ( New Delhi: Institute of Objective Study)

2. Ahmed, Syed Zahid (2008), Economic of Islamic Banking in India, The IOS Minaret, An Online Islamic Magazine, Vol.3, No.10

3. Dubey S. (2014), Islamic Banking- Tool for inclusive growth in India, International Monthly Journal Of Research In Management And Technology (Vol-III).

4. Kahn, O. (2004), A proposed introduction of Islamic banking in India, International Journal of Islamic Financial Services. Vol-5 No.4

5. Majumdar S. (2008), Islamic banking in India; what is the future potential?, Dissertation on Crisil Young Thought Leader.

6. http://www.islamic-banking.com/what-is-ibanking.aspx (last acc essed on 29.07.16)

7. http://www.EY-world-islamicbanking-competitive-report-2014-15.pdf (last accessed on 29.07.16)

8. http://www.infosys,com/finacle/solution/thought-process/document/why-india-needs-islamic-banking.pdf (last ac cessed on 29.07.16)

9. http://timesofindia.indiatimes.com (last accessed on 29.07.16)

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IMPACT OF SOCIO-ECONOMIC CONDITIONS ON EMERGENCE OF TELANGANA ARMED STRUGGLE

Sunitha Pandi Ph.D. Research Scholar Department of History

Osmania University Hyderabad,Telangana

Abstract:

Social and economic conditions of Dalit-bahujans have the main reason for the rise of Telangana armed struggled along with the oppressive attitude of Nizam. This paper focus on the way in which the impact of socio-economic conditions caused for the emergence of Telangana armed struggles.

Key Words:Social, Economic, Emergence, Telangana, Armed Struggles, Nizam, British, Congress, Ambedkar

Introduction:

The expression social and economic developments were presented in

1850 by the German Sociologist Lorenz von Stein in his book History of the French Social Movement from 1789 to the Present in 1850. Social and economic developments are substantial casual groupings of people and/or associations concentrated on particular political or social issues, as it were, on doing, opposing or fixing a social change. Social or economic change alludes to the thought of social and economic advancement or socio-economic development; the philosophical thought that society pushes ahead by persuasive or transformative means. Social change might be driven by social, religious, financial, political,

investigative or innovative strengths. Change pushed by social and economic development, may likewise be radical or progressive; requesting principal change in the current social/institutional structures and connections.

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Socio-Political and Economic Development:

A Socio-Political-economic1 development requests a basic change in the framework. It might be composed around a solitary issue or set of issues, or around an arrangement of shared worries of a social gathering or group. It goes for persuading the nationals and/or government officers to make a move on the issues and concerns which are at the center of the development. Political development is a statement of the battle of a social gathering for the political space and advantages. 2

Social and economic developments start with unequal circulations of

riches, influence, and benefit, impacts of social approach, and social change or transgression. Abused/seeking gatherings may compose to seek after their mutual convictions and interests. For socialization and social change, correspondence is an essential. Social change alludes to the thought of social advancement or socio-social development; the philosophical thought that society advances by argumentative or transformative means.

With a specific end goal to activate support for their causes, social activists deliberately attract correspondence arrangements to make their requests to be at the cutting edge of people in general level headed discussion. To clarify the across the board presence of social developments, once in a while individuals make compelling penance for their benefit. Telangana development is one among such Socio economic developments, which utilized different specialized techniques

to prepare support for their causes.

Telangana is known for the courageous deeds and the chronicled battles. Telangana happened to be the support of progressive

1 Agricultural Indebtedness Committee Report, 1935.p.9 2 The Voice of the Voiceless-Y Prabhanjan Kumar Yadav Maitreya Publications,Hyderabad, 2006.pp.56-67

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developments. This area saw chronicled battles pursued against the control and the misuse. The progressing separate Telangana battle is one such Socio-Political developments in India. It is the main Indian battle for monetary and social self-governance. The interest for Telangana is an interest for dependable and participatory legislative issues. It is the interest for little states. The interest for little states is an interest for popularity based administration.

From 1948 to 19563, Telangana went through a few stages Military

guideline, Valois principle and the incitement of a well known government after races in 1952 with Burugula Ramakrishna Rao as Chief Minister. The Hyderabad Tenancy Act, a standout amongst the most dynamic acts ever, was passed and incompletely actualized. The Hyderabad State could have proceeded with its glad presence however for the choice to frame etymological states. Actually, Nehru pushed its duration. Yet, Andhra Pradesh was framed, much against the suggestions of the Fazal Ali Commission and guidance of Jawahrlal Nehru.4

Formation of Andhra State:

The Andhra authority as yet hurting at the evil treatment distributed to them by the Tamil decision class in the old Madras Presidency, exchanged the damage to the general population of Telangana. Another reason is additionally the desire for influence and cash of the medieval ranks of the Andhra territory, Kammas, Reddys and Brahmins. The evil gotten film riches and pioneer abuse of Telangana water and

influence asset; have made a crazy society. The Congress and Telugu Desam, obviously went about as the official agents of this madness. All out misuse of Telangana assets for the advantage of the Andhra range is joined by assaults in transit of life of Telangana individuals. Indeed,

3 Hyderabad Census Report, PartI,1921.p.8 4 Media & Communication Research -Edited by Klaus bruhn jenson,pp.67-89

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the emphasis on the arrangement of Andhra Pradesh was itself with the expectation of taking control of Telangana assets.

The Andhra world class in their semantic bullheadedness seeing Guntur and Krishna Telugu as the main Telugu and have attempted to ride roughshod over Telangana Telugu. Andhraites trust that the Telangana dialect is no Telugu, Telangana individuals are sluggish, dolts and lawbreakers. In the event that it is the situation, is there any significance in saying that Andhra Pradesh is framed on semantic

premise? While the whole nation praises Hyderabad and its lifestyle, the Andhra rulers are never tired of saying that Telangana individuals are uncultured. Hence, the self-destructive endeavor to enslave Telangana for all time proceeds.5

1956 and 1969 Struggles:

In 1956 individuals of Telangana pursued a fomentation against the merger of Telangana with the Andhra. In any case, it was likewise deceived. Truth be told, Telangana development of 1969 really initiated on sixth December 1968. Understudies took out a parade from Vivek Vardhini College in Hyderabad. The parade was assaulted by rowdies enlisted by purported integrationists and in addition the police. Before long exhibitions were sorted out in Khammam and Warangal, which later spread to Nizamabad and different parts of Telangana.

Under the flag of Telangana Praja Samithi, the development spread to all edges of Telangana. Advisory groups were framed all around in the area. It chose to take out a rally to Raj Bhavan on first May 1969. The

Government banned the rally. In any case, rally began from Charminar great many individuals to participate in it. The fantastic old man of Telangana, K. V. Ranga tended to the social affair. The last sentence of his discourse was Ghulami ki zindagi se mout acchi hai - demise is desirable over an existence of slavery,inspired the activists and helped 5 Report of the Tenancy Committee, Hyderabad 1940.p.87

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their assurance. In spite of hundreds teargas shells were shot at, the parade proceeded with up and down the parade course, till it achieved Raj Bhavan.6

President of Secunderabad College Union, Umrender Rao, tumbled to a slug close Raj Bhavan. A segment of Telangana police had declined to start shooting in the Raj Bhavan region. However disregarding all the tear-gassing and terminating the parade kept on swelling and when it achieved Raj Bhavan there were more than fifty thousand individuals.

The suffering of young fellows was the sparkle that lit the flame all over Telangana. The battling soul against the treachery itself was the best method for correspondence. The dedication to the cause itself was the best instrument of correspondence.

Dr.B.R.Ambedkar and Indian National Congress Party on Telangana:

Congress is surely understood to trick as far back as its arrangement, opined by Dr B R Ambedkar on a few events. It invaded the development. At the end of the day Congress deceived the general population of Telangana in the pretense of Marri Channa, who began disassembling the association at each level. However the development proceeded since it was still alive at the grassroots level. The NGOs' strike was proceeding. The whole organization had been deadened. PM Indira Gandhi paid a flying midnight visit to Hyderabad to mollify individuals, maybe to buy a few pioneers. Therefore, Channa reported the suspension of the development.

Dominant Castes:

The long anticipating power monger Kamma people group investigated every one of the conceivable outcomes and attempted their best to come to control in the appearance of Telugu Desam Party, with a mass

6 Web sources www. Research scholors.com

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