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The IUP Journal of Commonwealth Literature

Focus

From the Editor

For those in whom a local mythology still works, there is an experience both of accord with the social order, and of harmony with the universe.

-- Joseph Campbell

Winter evenings, “evenings of fires and legends,” could be the best time to recall old myths and folk tales. Winter is also a time when people are gearing up to “ring out the old and ring in the new”—but how much of the old should we really ring out?

From being “the highest religious truths” to “mere falsehood and superstition” we have a whole range of attitudes on the uses of myth. Whatever be the “practical” value of myth in contemporary society, it has to be conceded that for poets and artists they still do remain a source of inspiration, if not the fountainhead of humanity.

To make sense out of chaos, to find some semblance of order—be it in the life of the individual or the society at large—one cannot deny the power of myths and cultural codes. They are what give one a sense of identity and hence the necessity of preserving it even under circumstances of pressure. All our little tales and traditions in turn comprise what one may term the collective mythologies of humankind. Whatever that may be, it is abundantly clear that all that we need is a “common ethical space” which includes “humanity in its entirety.”

By discerning a common pattern in widely divergent myths from widely divergent cultures is it possible to find the real source of sympathy between human beings? Myths then are a rich source of achieving coherence and order in a chaotic universe. By being a social, moral and religious force they speak to the humanity of the essential principle of unity. That is also where one might forget “old quarrels” and “encounters” and begin anew.

Jews in Canada attempt to translate worlds. Isn’t there scope at times for much humour when certain native usages are translated into English? The British Raj has left a trail of romances; at the same time, colonial India has become a fertile ground for theorists and scholars to decipher the underlying agendas in the colonial project. Two native works come to mind—Krupabai Satthianadhan’s Saguna and Kamala. We also have here a relatively less discussed work on Dutch colonial policy in the East Indies. We read about human rights again in new forms. Where does all this lead one to? Somewhat naively perhaps, one hopes for a world free from violence and cruelty, so that one might at some point in history banish ‘human rights’ from one’s vocabulary. African-American women gangsta rappers tread new grounds as they try to raise questions on the politics of power, economic opportunity, racism, sexism and so on. While in Africa, Shona folk tales take on political, social and cultural overtones.

Another winter… A time to ‘withdraw’ a time to ‘reflect’… It is also Christmas time and time for pilgrimages in this part of the world—particularly the time for the tough ones to the hills for an ‘encounter’ with a lonely ascetic God.

I do hope we have put together here enough ‘meanings-that-matter.’

And there are poems and short stories too to remind one of one’s moorings…

-- Nirmala P G
Consulting Editor

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Automated Teller Machines (ATMs): The Changing Face of Banking in India

Bank Management
Information and communication technology has changed the way in which banks provide services to its customers. These days the customers are able to perform their routine banking transactions without even entering the bank premises. ATM is one such development in recent years, which provides remote banking services all over the world, including India. This paper analyzes the development of this self-service banking in India based on the secondary data.

The Information and Communication Technology (ICT) is playing a very important role in the progress and advancement in almost all walks of life. The deregulated environment has provided an opportunity to restructure the means and methods of delivery of services in many areas, including the banking sector. The ICT has been a focused issue in the past two decades in Indian banking. In fact, ICTs are enabling the banks to change the way in which they are functioning. Improved customer service has become very important for the very survival and growth of banking sector in the reforms era. The technological advancements, deregulations, and intense competition due to the entry of private sector and foreign banks have altered the face of banking from one of mere intermediation to one of provider of quick, efficient and customer-friendly services. With the introduction and adoption of ICT in the banking sector, the customers are fast moving away from the traditional branch banking system to the convenient and comfort of virtual banking. The most important virtual banking services are phone banking, mobile banking, Internet banking and ATM banking. These electronic channels have enhanced the delivery of banking services accurately and efficiently to the customers. The ATMs are an important part of a bank’s alternative channel to reach the customers, to showcase products and services and to create brand awareness. This is reflected in the increase in the number of ATMs all over the world. ATM is one of the most widely used remote banking services all over the world, including India. This paper analyzes the growth of ATMs of different bank groups in India.
International Scenario

If ATMs are largely available over geographically dispersed areas, the benefit from using an ATM will increase as customers will be able to access their bank accounts from any geographic location. This would imply that the value of an ATM network increases with the number of available ATM locations, and the value of a bank network to a customer will be determined in part by the final network size of the banking system. The statistical information on the growth of branches and ATM network in select countries.

Indian Scenario

The financial services industry in India has witnessed a phenomenal growth, diversification and specialization since the initiation of financial sector reforms in 1991. Greater customer orientation is the only way to retain customer loyalty and withstand competition in the liberalized world. In a market-driven strategy of development, customer preference is of paramount importance in any economy. Gone are the days when customers used to come to the doorsteps of banks. Now the banks are required to chase the customers; only those banks which are customercentric and extremely focused on the needs of their clients can succeed in their business today.

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Commonwealth Literature