Growth of Islamic banking in India: discriminant analysis approach
Islamic finance presents a new avenue as a novel alternative to the conventional financial set-up in this country. The purpose of this study is to find out the prospects of Islamic banking in India. The objectives of this study have been met by conducting a survey to elicit the responses from retail...
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doaj-75a5abbbe19441e8b7cd515b8c0342cf2020-11-24T21:45:05ZengLLC "CPC "Business Perspectives"Banks and Bank Systems1816-74031991-70742017-12-0112417518810.21511/bbs.12(4-1).2017.069748Growth of Islamic banking in India: discriminant analysis approachDesti Kannaiah0Yaaseen Masvood1Y. Lokesh Choudary2Dr., Senior Lecturer, Singapore campus of James Cook UniversityDr., Assistant Professor, Faculty of Management Studies, SRM University, ChennaiDr., Assistant Professor, Department of Commerce, Government Arts College, Nandanam, ChennaiIslamic finance presents a new avenue as a novel alternative to the conventional financial set-up in this country. The purpose of this study is to find out the prospects of Islamic banking in India. The objectives of this study have been met by conducting a survey to elicit the responses from retail customers of both private and public sector banks in four cities of South India. The survey was carried out among both Muslims and non-Muslims to find out about the awareness levels, patronage, motivation and perception towards Islamic banking in India. The results reveal that the respondents have a favorable perception towards Islamic banking, especially from the city of Hyderabad, since it has got a lot of institutions that run courses on Islamic banking. In the current study, it is found that Islamic banking is having low level of awareness among the respondents. However, the attitude towards adoption of Islamic Banking seems encouraging, as reflected in the study. The findings of this research gain significance due to the fact that this sample represents a segment of the entire population of South India and thus, acts as a pre-cursor to a detailed study involving various other such demographic denominations. The future directions for this research could be carried out by drawing such clusters across the rest of the country. This may help to understand and get a better and broader perspective of the need for Islamic banking and hence, its prospects in India.https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/9748/BBS_2017_04cont_Kannaiah.pdfbank selectionfinancial inclusionforeign remittancesIslamic bankingpatronageperception |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Desti Kannaiah Yaaseen Masvood Y. Lokesh Choudary |
spellingShingle |
Desti Kannaiah Yaaseen Masvood Y. Lokesh Choudary Growth of Islamic banking in India: discriminant analysis approach Banks and Bank Systems bank selection financial inclusion foreign remittances Islamic banking patronage perception |
author_facet |
Desti Kannaiah Yaaseen Masvood Y. Lokesh Choudary |
author_sort |
Desti Kannaiah |
title |
Growth of Islamic banking in India: discriminant analysis approach |
title_short |
Growth of Islamic banking in India: discriminant analysis approach |
title_full |
Growth of Islamic banking in India: discriminant analysis approach |
title_fullStr |
Growth of Islamic banking in India: discriminant analysis approach |
title_full_unstemmed |
Growth of Islamic banking in India: discriminant analysis approach |
title_sort |
growth of islamic banking in india: discriminant analysis approach |
publisher |
LLC "CPC "Business Perspectives" |
series |
Banks and Bank Systems |
issn |
1816-7403 1991-7074 |
publishDate |
2017-12-01 |
description |
Islamic finance presents a new avenue as a novel alternative to the conventional financial set-up in this country. The purpose of this study is to find out the prospects of Islamic banking in India. The objectives of this study have been met by conducting a survey to elicit the responses from retail customers of both private and public sector banks in four cities of South India. The survey was carried out among both Muslims and non-Muslims to find out about the awareness levels, patronage, motivation and perception towards Islamic banking in India. The results reveal that the respondents have a favorable perception towards Islamic banking, especially from the city of Hyderabad, since it has got a lot of institutions that run courses on Islamic banking. In the current study, it is found that Islamic banking is having low level of awareness among the respondents. However, the attitude towards adoption of Islamic Banking seems encouraging, as reflected in the study. The findings of this research gain significance due to the fact that this sample represents a segment of the entire population of South India and thus, acts as a pre-cursor to a detailed study involving various other such demographic denominations. The future directions for this research could be carried out by drawing such clusters across the rest of the country. This may help to understand and get a better and broader perspective of the need for Islamic banking and hence, its prospects in India. |
topic |
bank selection financial inclusion foreign remittances Islamic banking patronage perception |
url |
https://businessperspectives.org/images/pdf/applications/publishing/templates/article/assets/9748/BBS_2017_04cont_Kannaiah.pdf |
work_keys_str_mv |
AT destikannaiah growthofislamicbankinginindiadiscriminantanalysisapproach AT yaaseenmasvood growthofislamicbankinginindiadiscriminantanalysisapproach AT ylokeshchoudary growthofislamicbankinginindiadiscriminantanalysisapproach |
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