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The IUP Journal of History and Culture
Focus

Economic growth results when the output of an economy grows because more land, labor, capital, and entrepreneurial talent are devoted to the production process and/ or because the `productivity' of these factors of production rises. In recent times, growing markets, technological improvements, and additional investment in human beings (human capital) all have played a part in increasing productivity. While explaining the continuation of poverty in countries like India many economic historians, development economists, and specialists in growth accounting also point to the fact that the `institutional framework' of a society provides the incentive structure that directs the economic (and political) activity of the country. This becomes evident in the context of ancient Indian economy where we find a good deal about the institutional foundations of successful economic growth. A number of recent empirical studies have made it clear that throughout history, humans have all too often failed to provide the institutional framework necessary for productive activity. To shed new light on the shifting patterns of historical research in India, the current issue includes a paper on `Environmental History' by tracing the colonial backdrop of forest policies. The interplay of Indo-Central Asian cultures in medieval times has been rightly captured in another paper on `painting' and `literature'. Besides, the book review section features two reviews of two prominent books on the theme, `Understanding Islam', which attempt to project the ongoing debates from a new perspective.

Indian economy can be characterized by innumerable statistics on its demographic, economic, technological, and institutional features, but what we really need to know is the interplay among all these features that makes it work. The paper titled, "Economic Principles in Ancient India", by Nicholas Kazanas relates ancient Indian economic principles to modern economic theorists like Adam Smith, David Ricardo, Karl Marx, Henry George, etc. The paper discusses, among other things, the system of land tenure and the importance of free access or availability of land.

The impact of Persian culture on the growth and development of a larger, syncretic Indo-Central Asian culture has been widely studied. As a matter of fact any study which attempts to delineate the characteristics of an Indo-Central Asian culture, invariably tends to highlight the Persian cultural elements, in the process neglecting or ignoring various other constituents or subcultures that had a role to play in the development of this amalgamated culture. However, of late, researchers have recognized the importance of studying, what can be termed as a shared heritage of a large part of the regions of Central Asia, and the South Asian subcontinent. In the process, it acknowledges the contribution of the Arab, Turkish, Mongol, and Afghan cultures to the development of the bigger Indo-Central Asian culture. It is in this context that the study, "Central Asian Culture in Medieval Deccan: A Case Study of Painting and Literature", by Salil Kader makes its presence felt. The author examines the process of acculturation, which brought in Central Asian elements into the Deccan region, especially in the spheres of art and literature. At the same time, this study also highlights how historians have failed to look beyond the Persian and acknowledge other cultural strains which have contributed in the `making' of the Indo-Central Asian culture.

The emergence of the Chipko movement since 1982 has politicized the environmental history in South Asia. The debate arose on the question whether Chipko is a Gandhian style non-violent Satyagraha movement and what is the historicity of such a movement. It was debated that the past had witnessed several movements but not always non-violent. Under these circumstances, the attention of the historians turned to the history of protest movement in India regarding various ecological issues. In the process three ideological undercurrents emerged: Subalternist, statistical empiricist and the Oxford tradition. Om Prakash's paper, "Green Imperialism and Deforestation in the 19th Century British Northern India", is a response to the Oxford tradition which tries to portray the British rule in India as a civilizing mission by arguing that they initiated scientific forestry in India and that India had no such tradition. Here the attempt is to establish that the so called scientific forestry was but selected manipulation of certain species so that it was not scientific at all and moreover it had long-term adverse ecological consequences.

Many scholars opine that the element of `Religion' figures prominently in unearthing the roots of the social unrest accumulating in the Indian subcontinent for the past few years. The layman understanding of this phenomenon certainly points to the role played by `Islam' in the name of Jihad, which is unmistakably identified with the growing `terrorism' menace in countries like India and Pakistan. For a thorough understanding of the spectrum of Islam in the above context we have chosen the books titled, "Partisans of Allah: Jihad in South Asia", by Ayesha Jalal and "Islam: Misgivings and History", by Asghar Ali Engineer that help us in locating the key concepts and misconceptions. Laxman D Satya and Akhtarul Wasey respectively were able to translate the key ideas with their critical acumen and objective interpretation of social mechanisms.

-- Radha Mohan Chebolu
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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