Indian Rupees Research Articles

Interrelationships and Dynamics of Asian Currencies: A Comprehensive Analysis of Exchange Rate Trends and Implications for Investment

This study endeavors to offer a profound insight into the dynamics and interrelationships of Asian currencies vis-à-vis the US dollar. The analysis begins by juxtaposing the macroeconomic and trade backdrops of distinct currency pairs: the Chinese Yuan (CNY) and Singapore Dollar (SGD), the Thai Baht (THB) and Philippine Peso (PHP), the Japanese Yen (JPY) and Korean Won (KRW), and finally the Vietnamese Dong (VND) with the Indian Rupee (INR). These juxtapositions, accompanied by recent trade and economic data, outline the fluctuations in exchange rates against the US dollar. Various angles of exploration unravel the relationships of these currencies with their economic partners – China with ASEAN nations, Japan and Korea with their primary trading allies, and Vietnam and India post the 2008 financial crisis. Moreover, the study showcases how global and regional economic factors impact the monetary conditions of these nations. Subsequent correlation analyses uncover the intricate relationships both amongst these currencies and against the US dollar. Specifically, findings highlight the strong positive correlation between the Singapore Dollar and the Chinese Yuan, and the negative correlations of both the Vietnamese Dong and the Indian Rupee with the Chinese Yuan. The conclusion of this study accentuates the importance of understanding the dynamic relationships and macroeconomic settings of these Asian currencies for both investors and policymakers. Such an understanding offers invaluable guidance and insights for future investment decisions. Moreover, these revelations furnish valuable data and observations for further economic studies.

Comparative performance evaluation and economic assessment between traditional and vibration assisted EDM during machining of Inconel 718

Nickel based superalloy, Inconel 718 offers extensive applications in aerospace and gas turbine industries because of its outstanding properties, enabling high performance in various critical components. Despite the wide application of electric discharge machining (EDM) for difficult-to-cut conductive materials, the process becomes less productive due to unstable arcing and inadequate debris flushing during machining, leading to reduced operational efficiency. This research focuses on comparative performance evaluation and economic assessment between conventional-EDM and vibration assisted EDM (VA-EDM) while machining Inconel 718 with copper electrode. The workpiece was excited to vibrate with low frequency by employing unbalanced mass attached in a rotary motor with the aim of enhancing EDM performance. Material removal rate MRR, surface integrity (surface crack density SCD, surface roughness Ra, white (recast) layer thickness WLT) and tool wear rate TWR are analyzed to determine machining performance in comprehensive analysis. The results of the performance comparison show that vibration assisted is superior to the conventional-EDM process concerning enhanced material removal rate, and surface morphology with minimum surface crack density, tool wear rate and white layer thickness. The mean value ratios for Ra EDM/ Ra VA-EDM, TWR EDM/ TWR VA-EDM, WLT EDM/ WLT VA-EDM, and SCD EDM/ SCD VA-EDM are 1.35, 1.52, 1.21, and 1.74, respectively. Additionally, the surface integrity was enhanced using vibration-assisted EDM because it (a) increases the plasma flushing efficiency and the gap pressure gradient; (b) raises the energy of electrically charged plasma particles; (c) increases the effective flow of dielectric in the gap; (d) minimizes the number of ineffective pulses (short-circuiting and arching) on the surface; and (e) improves the dielectric flushing conditions in sparking gap. According to the findings, the overall machining expenditure per part under VA-EDM in Indian rupees (INR) 534 is lowered by 8% than expenditure under conventional-EDM (INR 576.60). The outcomes of this research have the potential to benefit numerous industries that deal with difficult-to-cut materials.

Identification of Fake Currency Using Convolution Neural Network

The progression of shading printing innovation has expanded the rate of Fake currency copying notes on a large scale. Albeit electronic monetary exchanges a returning out to be more popular and the utilization of paper cash has been diminishing as of late, banknotes still remain in distribution attributable to their dependability and straight forwardness in use. Few years ago, the printing should be possible in a printing-house, yet presently anybody can print a money paper with most extreme exactness utilizing a straightforward laser printer. As an outcome, the issue of duplicate currency rather than the authentic ones has been increases generally. India had reviled the problems like defilement and dark cash and fake of money notes is likewise a big issue to it. To handle this problem, a deep learning- based framework is proposed to identify the fake Indian currency. The MATLAB tool has been used to identify the fake currency. The outcome will classify whether the Indian currency note is Real or Fake.

EXCHANGE RATE REGIMES AND ECONOMIC POLICIES: AN INDIAN PERSPECTIVE

This research paper provides a comprehensive analysis of exchange rate regimes (ExRRs) and their implications for economic policies particularly for the Indian economy. The study investigates the relationship between different ExRRs, including fixed, floating, and managed float systems, and their impact on macroeconomic policies which are drivers of economic growth. We have recognised four different regimes for the Indian rupee on the basis of level of flexibility of the exchange rate. In India, before liberalisation, fixed exchange rate system was followed but after economic liberalisation of early 1990s, the Reserve Bank of India (RBI) started intervening in the currency market to regulate the exchange rate. The exchange rate was made comparatively more flexible since the global financial crisis of 2008. After 2013,the exchange rate was efficiently and regularly managed by adopting the currency market intervention methhod. The RBI has acted in an asymmetric manner to reply to the EMP. When there was pressure to appreciate, the RBI acted by buying the foreign exchange reserves whereas rupee depreciation was adopted in case of vice-versa. The present study discusses the broader implications of ExRRs and economic policies for global economic governance, financial market stability, trade and investment flows, policy innovation, and public perception. It provides valuable insights for policymakers, central banks (CBs), financial institutions, and researchers, informing policy formulation processes in the dynamic global economic landscape.

Comparative Analysis of ML Models for Currency Exchange Rate Prediction

The primary aim of this research is to improve the prediction of the exchange rate between the United States Dollar (USD) and the Indian Rupee (INR), which is an area that has received little attention in the field of financial forecasting. In contrast to widespread methodologies that consolidate results over several currency pair, this study specifically concentrates on the USD to INR pair, recognising the distinctive economic and political dynamics between the United States and India. This study aims to do a comparative analysis of four various machine learning models, namely RNN, ARIMA, LSTM, and Random Forest, in order to determine the best effective tool for predicting exchange rates in a certain context. This research employs a holistic methodology, including a wide range of variables like trade balances, interest rates, and geopolitical events, so providing a multifaceted forecasting approach. The growing economic interdependence between the United States and India highlights the practical importance of precise predictions for many stakeholders, such as traders, investors, and politicians. Furthermore, the study examines the concept of dynamic model updating, a novel attribute that augments flexibility within the ever-changing financial industry. The primary objective of this work is to address a significant need in current academic research by developing a reliable and practical instrument for accurately forecasting the exchange rate between the United States Dollar (USD) and the Indian Rupee (INR). This research is notable for its specific concentration, use of comparative methods, and its potential to make substantial advancements in both academic and practical domains pertaining to currency exchange rate forecasting.

Cryptocurrency in India: Challenges and Opportunities

- In the present time, technological progress has forced humans to use the Internet. Apart from personal work, the use of Internet has also become mandatory in the financial sector. In the economic world, from the general public to businessmen, employees and industrialists, it is a new currency. Its name is crypto currency and it is being used for more profit. In general terms, it is said that crypto currency is a digital currency. It is used for exchange or transaction by various traders and investors through the internet. No intermediary bank, financial institution, central authority is required for its exchange. In this process, there is less cost, less time and transfer is done easily. Today, the prevalence of crypto currency is increasing rapidly in the world as well as in India. Experts believe that this currency will prove to be more popular and profitable in the future. This research paper is based on the advantages, disadvantages and possibilities of crypto currency in India, in which we will study whether the Indian government's process for it is positive or negative, etc.

Effectiveness of a Health Educational Program in Enhancing Breast Cancer Knowledge Among Women in Rural Karnataka, South India.

Breast cancer is one of thesignificant causes of mortality in India, ranking second only to cervical cancer among women. Annually, the country has witnessed the detection of 200,000 new cases, with 60% identified in the early stages. This study aimed to assess the effectiveness of a health education intervention program designed to enhance knowledge about breast cancer among women in rural Karnataka. A descriptive study design was employed and a total of 320 women were selected through multi-stage sampling.The educational interventioninvolved a PowerPoint presentation by the investigator, which wasfollowed by group discussions that culminated with plenary sessions for clarifying the doubts of respondents. At the end of every educational session, pre-designed, pre-tested, and validated questionnaires, comprising a mix of structured and semi-structured questions, were completed by the respondents as part of the post-test. Results: Among the participants, 44.7% were educated up to the primary level, a majority (64.1%) were employed, and most (90.3%) were married. Additionally, 56.9% reported a monthly income below 3000 Indian rupees (₹), with the majority (86.3%) falling below the poverty line (BPL) category. A statistically significant improvement (p = 0.0001) in knowledge related to breast health, breast self-examination, clinical breast examination, and mammography was observed in the post-intervention phase when compared to the pre-test. 86.2% of the respondents showed an increase in knowledge level about breast health (either from poor to moderate or from moderate to good) and the practice of breast self-examination increased from 4.7% (pre-test) to 60.3% (post-test). Conclusion: The study demonstrated a significant enhancement in women's knowledge levels after implementing the health education intervention program. These findings underscore the importance of health education strategies in raising awareness of lifestyle diseases, particularly breast cancer, among women.

Counterfeit Currency Detection

This paper presents a programmed framework designed to identify Indian currency notes and determine whether they are genuine or counterfeit. The system is of great utility in the banking sector and other fields. India has experienced an increase in counterfeit notes of denominations such as 100, 500, and 1000 rupees, attributed to advancements in technology such as scanning, color printing, and replication. This has led to a rise in counterfeit issues. The detection of counterfeit Indian currency notes is achieved through image processing techniques. Initially, image acquisition is performed, followed by preprocessing, including cropping, smoothing, and conversion to grayscale. Subsequently, image segmentation, feature extraction, reduction, and comparison are conducted. This framework can greatly aid in distinguishing genuine and counterfeit Indian currency notes, offering a valuable tool for various sectors, particularly in addressing the rising counterfeit issues

Prescription-based cost analysis of medicines for cardiovascular risk factors at Indian Council of Medical Research-Rational Use of Medicine Centre Hospitals of India.

India has taken several initiatives to provide health care to its population while keeping the related expenditure minimum. Since cardiovascular diseases are the most prevalent chronic conditions, in the present study, we aimed to analyze the difference in prices of medicines prescribed for three cardiovascular risk factors, based on (a) listed and not listed in the National List of Essential Medicines (NLEM) and (b) generic and branded drugs. Outpatient prescriptions for diabetes mellitus, hypertension, and dyslipidemia were retrospectively analyzed from 12 tertiary centers. The prices of medicines prescribed were compared based on presence or absence in NLEM India-2015 and prescribing by generic versus brand name. The price was standardized and presented as average price per medicine per year for a given medicine. The results are presented in Indian rupee (INR) and as median (range). Of the 4,736 prescriptions collected, 843 contained oral antidiabetic, antihypertensive, and/or hypolipidemic medicines. The price per medicine per year for NLEM oral antidiabetics was INR 2849 (2593-3104) and for non-NLEM was INR 5343 (2964-14364). It was INR 806 (243-2132) for generic and INR 3809 (1968-14364) for branded antidiabetics. Antihypertensives and hypolipidemics followed the trend. The price of branded non-NLEM medicines was 5-22 times higher compared to generic NLEM which, for a population of 1.37 billion, would translate to a potential saving of 346.8 billion INR for statins. The variability was significant for sulfonylureas, angiotensin receptor blockers, beta-blockers, diuretics, and statins (P < 0.0001). The study highlights an urgent need for intervention to actualize the maximum benefit of government policies and minimize the out-of-pocket expenditure on medicines.

Bitcoin as a Distinct Asset Class for Hedging and Portfolio Diversification: A DCC-GARCH Model Analysis

Purpose: Bitcoin, the most popular form of virtual currency, currently holds the highest market capitalization among cryptocurrencies and serves as a benchmark for the typical cryptocurrency. The main goal of this research is to evaluate Bitcoin’s potential as a distinct asset class. This will be achieved by building upon previous studies and investigating its utility as both a hedging instrument and a tool for portfolio diversification. Methodology: In this study, Bitcoin is compared with other asset classes, such as key stock indices of India’s Nifty-50 and Sensex, and key currency pairs with the Indian Rupee, including the US dollar ($), Euro (€), Pound sterling (£), and Japanese Yen (¥). Gold, as one of the most precise commodities, is analyzed using descriptive statistics to verify and confirm its properties as a distinct asset class. Additionally, the study employs the DCC-GARCH model to ascertain whether Bitcoin qualifies as both a hedging instrument and a tool for portfolio diversification. Findings: The findings of this study indicate that Bitcoins constitute a unique and separate category within alternative assets and investment classes. Various descriptive statistics confirm that Bitcoins exhibit characteristics of an asset class. Additionally, the study reveals and verifies the hedging and portfolio diversification capabilities of Bitcoin based on the results of the DCC-GARCH model. Practical Implications: The findings of this study will prove useful for investors considering cryptocurrency (Bitcoin) as an alternative asset class for diversifying their portfolios and hedging against volatility. Originality/Value: This study contributes to the research paradigm of Bitcoin finance by providing a perspective from a developing nation on Bitcoin as an asset class, which differs from other asset classes such as Nifty-50, Sensex, USD–INR, EUR–INR, GBP–INR, JPY–INR, and gold. While previous research has predominantly focused on developed nation contexts, this study underscores the importance of examining Bitcoin’s role in portfolio diversification and hedging strategies. To enhance our understanding, this research presents daily observations of recent economic data spanning from 2011 to 2021. Assessing whether Bitcoin qualifies as an alternative investment and a distinct asset class is crucial, as it could significantly influence investment decisions and serve as a valuable tool for risk management and diversification purposes for investors.

Family and facility care variables attributing to postnatal depression among women in two tribal-dominated districts of Odisha: Log model analysis to suggest intervention.

It is a proven fact that women are affected by poor mental health predominantly in the postnatal period. This is authenticated by the use of a validated and tested Edinburg Postnatal Depression scale (EPNS), which is a simple tool to measure depression among women after delivery by posing 10 questions and this is also validated in Odia language. Odisha has made laudable progress in delivering Maternal and Child Health care to women even in tribal-dominated districts through its robust Comprehensive Obstetrics care network restricting home delivery almost to a mere 4%-5% and reducing maternal deaths by 60%-70% as per the National Family Health Survey (NFHS-5). As a part of an Indian Council of Medical Research (ICMR) extramural project to enhance contraceptive acceptance among males in districts that had a total fertility rate (TFR) higher than 3, a qualitative objective to measure mean postnatal depression in the early postpartum period (who are also the target to advocate contraceptive acceptance) was undertaken. A secondary objective was to compare family care vs. facility care as greater attributing factors for higher EPNS scores. Due to time constraints, the study was done on a fast-track mode wherein two villages each from the sampled blocks of Koraput and Boudh (with one of the highest birth rates) were selected. All women in villages who had a baby aged between 1 and 6 months, were the sampling frame and only those were selected who consented. A questionnaire was used that elicited information on familial sociodemographic details and also facility-based antenatal care (ANC) and postdelivery services that were availed for the last-born child. General Health Questionnaire-12 (GHQ-12) scores were used as an independent variable and a proxy measure of cumulative familial stress. Descriptives and log regression were used to measure the odds of family vs. facility-based services. A total of 98 women, 50 from Boudh and 48 from Koraput, participated in the study. Koraput's mean EPNS scores were 6 points higher than Boudh indicating much higher postnatal poor mental health. Log models showed that there was no difference between facility-based care in both districts as both reported 96%-97.3% institutional delivery, with out-of-pocket expenditure (OOP) being less than 520 Indian rupees on average and nearly 100% reported receipt of iron folic acid and calcium as well as streamlined Janani Suraksha Yojana (JSY) services. However, the odds of men's participation in Family planning was 2.77 times less in Koraput (SD = 2.582), fourth birth order 1.33 odds, and female gender 5.66 odds higher for the district as a result of which GHQ 12 score mean was 21.00 (CI: 19.18-22.82) hinting very high psychological stress as compared with Boudh where the mean was 17 (CI: 14.59-19.41). This clearly indicates that a robust healthcare delivery alone will not be able to address the holistic health of women in the childbearing age group. Familial stressors compound poor mental health and hence counseling of the family as a whole is necessary to achieve sound mental health in women in the postnatal period. The spousal role is emerging as a strong determinant, especially in terms of nonacceptance or casual approach to contraceptive use. Interestingly, a skewed gender bias is noted for the female child, which is also a contributor to postnatal depression (PND) in both districts, though a bigger sample would be needed to statistically prove it.

Morphological and Chemical Analysis of Farzi (Fake) Indian Currency

In Forensic Science, Morphological and chemical analysis of farzi currencies plays a very important role in identifying the counterfeit currency. The term “counterfeit” refers to fake or forgery which is an exact replica of the original. As there is a rapid advancement in technology there is a drastic increase in crime rate with respect to technology as well where culprits are using advanced and modern technologies for committing crime, here counterfeit currency falls one among them, where culprits are using wellversed technologies in manufacturing fake notes and coins which cannot be easily recognized by the public. In India though RBI is taking a lot of precautions to overcome counterfeiting by implementing high security features in Indian currency such that it cannot be duplicated easily, some or the other way these fake currencies are circulating in the society and people are lacking knowledge in identifying these fake notes and coins. Some of the security features for identifying these fake currencies is revealed to public by the RBI in its guidelines. Though criminals disguise the original by circulating fake currencies, it is impossible to implement the authenticated security features in it. The composition and its ratio of the original varies from the duplicate which is a loophole, and this can be easily analysed by forensic scientists by keen observations and conducting certain physical and chemical tests. We tried to differentiate between fake and original currencies of India by using RBI guidelines and by performing certain chemical tests through which counterfeit currencies can be analysed.

Financialization and Dynamics of Currency Futures Market during COVID-19: Evidence from India

This study examines inter-relationship and impact of COVID-19 on Indian currency and equity futures markets during the period of financial crisis. In such period, investors look for alternative asset classes to hedge against risk as observed during Global Financial Crisis. This study examines whether same phenomenon was observed after COVID-19 in India considering currency futures as an alternate asset class. For this purpose daily exchange rate of Indian Rupee with British Pound Sterling, Japanese Yen, Euro and United States Dollar and for equity futures, near-month NIFTY 50 futures contracts are used. After examining stationarity of data, Co integration test, Granger causality and Bi-variate correlation is applied. ARCH and DCC-GARCH model is employed to allow for heteroscedasticity and time variation in correlation. It is observed that YEN, JPY and USD display significantly negative correlation with Nifty futures. Currency futures is causing Nifty futures during COVID-19 period and leads Nifty futures by one day. However, it is other way around during pre-COVID-19 period. Long-run co-integration is not evident. ARCH effect is present in both time series and except for insignificant short-run shock persistence during COVID-19 period, there exists time varying correlation between currency returns and Nifty.

The Macrodynamics of Indian Rupee Swap Yields

This paper econometrically models the dynamics of Indian rupee (INR) swap yields based on key macroeconomic factors using the autoregressive distributive lag (ARDL) approach. It examines whether the short-term interest rate has a decisive influence on long-term INR swap yields after controlling for other factors, such as core inflation, the growth of industrial production, the logarithm of the equity price index, and the logarithm of the INR exchange rate. The estimated models show that the short-term interest rate has an important influence on swap yields. This implies that the Reserve Bank of India (RBI) can sway borrowing and lending rates not just on Indian government bonds but also INR-denominated private-market financial instruments, such as swaps and swaptions.

Optimum Level of Currency Reserves: Investigation and Forecasting of Indian Rupee Using ARIMA Model

Optimum Level of Currency Reserves: Investigation and Forecasting of Indian Rupee Using ARIMA Model

Legal Issues Involved in Electronic Payments System in India

The Indian economy has developed rapidly after the induction of digital interfaces in commerce, trade, and industry particularly after the popularisation of electronic payment systems or digital banking. Since 2016 when the Government of India announced demonetization, electronic payments have been rising and are expected to continue in the future because the government has promoted these types of payments. Internet penetration in India was 47 percent in 2022 and it was more than 100 percent in urban areas as compared to rural areas, now with the expansion of the information technology-enabled generation which is using digital modes of payments more in their daily transactions has resulted in more than 140 crore rupees each day through various methods of digital prevailing in India. State Governments are also prioritizing and making more efforts to ensure that the unprivileged people should have to be provided access to web services so that they may also make payments conciliatory through this method. Resultantly, there are 103 billion digital transactions worth Indian rupee 166 trillion in the financial year 2023. It is also expected that digital transactions will also rise to 411 trillion by the year 2027. Consequently, on advent of high tech system of fund transfer and its enormous use several cases of fraud have also been taking place on daily basis. The legislation has enacted various laws in connivance with the global laws, to resolve the problem, but they are still prevailing. The present study has been conducted to identify the legal issues and the results arising from these issues and to recommend some pathways to recover from these obstacles. This study further explains the further way to improvement in fund transfer and making payments using digital mode. Consequently, it is found that the present legal system does not have sufficient provisions to stop such fraud, and blockage of money with the UPI, payment gateways, banks, and merchants. There is no single online solution to these problems. The banking ombudsman is working on resolving some of the issues, but due to the red tapism, such transactions of payment failure and fraud websites could not be resolved. Sufficient amendments dealing with such transactions have not been incorporated in the present Consumer Protection Act. Hence, it is recommended that there should be a virtual hearing in the office of the ombudsman as well as in the court of President Consumers Protection.

Assessment of medication discrepancy, medication appropriateness, and cost analysis among patients with pediatric nephrotic syndrome: An ambispective cohort observational study

BackgroundNephrotic syndrome (NS) is a commonly encountered chronic kidney disease in pediatric populations, with South Asian children being at high risk and requiring long-term pharmacological management. Thus, identifying medication discrepancies and evaluating the appropriateness of therapy and its economic burden are vital for inpatient management. The aim of the study was to assess medication reconciliation, medication appropriateness, and cost analysis in NS cases. MethodsAn ambispective cohort observational study was carried out with 150 NS patients where medication discrepancies were identified retrospectively and prospectively using the best possible medication history and following up patients correspondingly. Further, the Medication Appropriateness Index and cost variation analysis were used to assess the prescribed therapy and cost analysis, respectively. ResultsOut of 150 patients with NS included, 67.3% were male and the mean age was 7.2 years. In total, 36.7% medication discrepancies were found at baseline and 6% discrepancies at follow-up. The majority of discrepancies were unintentional and due to dosing error both at baseline and follow-up. Further, in only 2% of the patients was there inappropriately prescribed medication, and the majority of patients spent between INR (Indian Rupees) 500 and 1000. ConclusionChronic conditions like NS require continuous monitoring by the specialist pediatric clinical pharmacist, who can contribute significantly by minimizing the medication discrepancies, by assessing the appropriateness of therapy, and lessening the economic burden.

Predictors of quality of life of cancer patients: A psycho-oncological study conducted at Tripura, North-East India.

Cancer is, no doubt, a life-threatening illness, and it has a long-term effect on the physical and mental health of the patients, particularly on their quality of life (QOL). Many factors significantly impact the QOL of cancer patients, and the present article is an attempt to explore the predictors of QOL of cancer patients. More specifically, the article tries to ascertain the role of the area of living, educational status, family income, and type of family on the QOL of cancer patients. We also tried to examine the role of illness duration and spirituality on the QOL of cancer patients. The sample consisted of 200 cancer patients belonging to the state of Tripura, a Northeastern state of India. General Information Schedule, Quality of Life Patient/Cancer Survivor Version (developed by Ferrell, Hassey-Dow, and Grant), and The Spiritual Experience Index-Revised (developed by Genia) were used for data collection. For analysis of data, independent t-test, analysis of variance, and multiple linear regression were computed. The statistical analysis was carried out using IBM SPSS Version 25.0. Out of 200 cancer patients, there were 100 (50%) men and 100 (50%) women patients. Most of the cancer patients (100, 50%) were suffering from oral cancer, followed by lung and breast cancers. They were mostly from the rural areas of Tripura and belonged to nuclear families. Most of them were not much educated, and their monthly family income was below INR (Indian National Rupee) 10,000. A total of 122 (61%) cancer patients were diagnosed less than 1 year before. The results showed no significant difference in QOL scores among the subgroups of cancer patients in socioeconomic and illness factors, except for family income. Further analysis revealed that only spirituality and educational qualification of cancer patients significantly predicted their QOL. The current article can act as a springboard for further studies in this area and provide aids for socioeconomic development while improvising cancer patients' QOL.

Digital currency: an awareness of the future of central bank digital currency in India

Digital currency: an awareness of the future of central bank digital currency in India

Exploring the Potential of Central Bank Digital Currency in India

Exploring the Potential of Central Bank Digital Currency in India