I. INTRODUCTION. The term Bank has been defined in different ways by different economists. A few definitions are:

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1 Volume-3, Issue-09, September 2016 ISSN: (Online) (RHIMRJ) Research Paper Available online at: A Comparative Study on Profitability Analysis of Selected Nationalised Banks of India Prin. (Dr.) V M Vanar ( M. Com, M. Phil, Phd) Shri. I.V Patel College of Commerce, Nadiad, Gujarat (India) Prof. Kishorbhai Gorakhabhai Dhole (M.COM, BE.d, GSET) Shri. I.V Patel College of Commerce, Nadiad, Gujarat (India) Abstract: This paper empirically evaluates and analyse profitability and performance of the selected nationalised banks. The study is on the basis of trend analysis and ratio analysis. The study distinguishes the relationship of financial analysis with the performance of banks and to measure the activities and services of the banks. The present study analyse the financial position and also discusses problems related to the operating system of the selected nationalized banks in India. For this research study, the researcher has selected 5 years period from to of five nationalized banks. They are: 1.Bank of Baroda 2.Bank of India 3.Dena Bank 4.Indian Bank 5.State Bank of India. Keywords: Indian Banking, Profitability, nationalized banks, financial analysis. I. INTRODUCTION Indian Banking history can be traced to 19th century. During the colonial era many Indian banks were founded either by the princely States or by wealthy individuals. The primary aim of most of the banks was to cater financial needs of trade and industry in that locality. During this period the banking services became the privilege of big business firms and wealthy individuals. Masses were denied easy credit and banking services. Agriculture and small scale rural industries did not have access to credit facilities and banking services. They depended on village money lenders and other private financiers to fund their activities. These local financial prodders exploited the rural population by charging enormous interest rates and harsh repayment conditions. Nationalization of banks in India by then Indian Prime Minister Indira Gandhi wrote a new chapter in Indian Banking history. The nationalized banks in India were compelled to focus on rural and agricultural sectors as a part of their social responsibility. Their resources were utilized to empower farmers and agricultural labourers in order to free them from the clutches of money lenders. Nationalization of banks in India was done in two phases. The first phase of nationalization started in 1955 when the erstwhile Imperial Bank of India became State Bank of India with an Act of parliament. During 1959, seven subsidiaries were nationalized and associated with State Bank of India one by one. This heralded a new beginning in Indian banking system. The State Bank group became the largest bank in India serving 90 million customers with a network of over 9000 branches in nook and corners of the country. The second phase of nationalization started in 1969 with the nationalization of 14 major commercial banks in India. In 1980, 6 more commercial banks were nationalized and became public sector banks. After this period the Public Sector Undertaking banks expanded their reach and grew in leaps and bounds. The nationalized banks in India expanded their branches and spread their activities across the country. The PSU banks introduced new schemes and programs to cater all sections of the society. Thus, the nationalization of Banks in India helped the masses to avail banking services at affordable cost. Definition of a Bank: The term Bank has been defined in different ways by different economists. A few definitions are: According to Walter Leaf A bank is a person or corporation which holds it out to receive from the public, deposits payable on demand by cheque. Horace White has defined Bank as a manufacturer of credit and a machine for facilitating exchange. Meaning of Nationalized Bank: A Nationalized (commercial) bank is a profit seeking business firm, dealing in money and credit. It is a financial institution dealing in money in the sense that it accepts deposits of money from the public to keep them in its custody for safety. So also, it deals in credit, i.e., it creates credit by making advances out of the funds received as deposits to needy people. It thus, functions as mobilize of savings in the economy. A bank is, therefore like a reservoir into which flow the savings, the idle surplus money of households and from which loans are given on interest to businessmen and others who need them for investment or productive uses. 2016, RHIMRJ, All Rights Reserved Page 1 of 10 ISSN: (Online)

2 What is Profit? Profit is an excess of revenues over associated expenses for an activity over a period of time. Terms with similar meanings include earnings, income, and margin. Profit, invisible hand, ensures the prosperity of an organisation. The main and fundamental objective of each and every business is to earn maximum profit with minimum risk. Every business should earn sufficient profits to survive and grow over a long period of time. The word profit comes from Latin, meaning "to make progress". One of the main reasons that companies come into existence is to make money i.e. profit. As the old saying goes, if the outgo exceeds the income, then one s upkeep becomes one s downfall. In short, if it costs more to operate than the amount of revenue generated to cover expenses and make a little extra, the company will soon fold. Profit is considered as the soul for any business entity. The business entity cannot survive and grow if it fails to earn adequate profit. For any firm, earning of adequate amount of profit is of paramount importance. Profit is considered, in the eyes of some financial analyst as yardstick for measuring efficiency of the management of the firm. What is Profitability? Profitability means ability to make profit from all the business activities of an organization, company, firm, or an enterprise. Profitability is the most important subject matter for the existence and success of any organization. It may be defined as the ability of a given investment to earn a return from its use. Profitability is the ability of a business to earn profit. Profit comes out from the revenue after deducting all company expenses, such as producing a product, and other expenses related to the conduct of the business activities. Profitability is an index of efficiency; and is regarded as a measure of efficiency and management guide to greater efficiency. Though, profitability is an important yardstick for measuring the efficiency, the extent of profitability cannot be taken as a final proof of efficiency. Profitability is also considered strength and weakness of a firm or company. It indicates overall performance and efficiency of management. II. REVIEW OF LITERATURE Angadi and Devraj, (1983), ( profitability and productivity of banks in India economic and political weekly- nov ) have studied the factors determining the profitability and productivity of public sector banks (PSBs) in India. The study has been primarily based on published financial statements of respective banks. These authors have observed that though PSBs have discharged their social responsibilities, their deficiencies in respect of effective mobilization of funds at lower costs, attracting retail banking business, augmenting earnings from other sources, effective cash and portfolio management etc. have contributed towards the lower productivity and profitability of these banks. Verghese (1983) (book - profit and profitability of Indian commercial banks in the seventies) Verghese has worked on the profits and profitability of Indian commercial banks in the nineteen seventies in a very comprehensive manner. The study is based on a detailed and meticulous analysis of the published financial statements of commercial banks in India during the period, FY 1970 to FY Some concepts used in this study are observed to have limited applicability. For example, for the cost of usable funds the author used the absolute amount of establishment cost and other expanses instead of proportionate amounts. But while calculating the net yield on advances the author has taken into account the cost of servicing of loans and advances. Kewaljeet Singh (1999) in his article, ( Profitability performance of nationalized banks: Some Issues, ) makes an attempt to analyze the profitability performance of the State Bank of Patiala keeping in mind the changing economic reward. According to him, percentage in growth in gross income after the reform process started in decreased from a growth of per cent during 1985 to to a growth of per cent during to (the period of liberalization). As a result of liberalization, there is continuous decline in the profits of commercial banks. Dasgupta Debajyoti (2001) in paper attempts to analyse impact of reforms on the profitability of the Indian Public Sector Banks. The study has selected six banks i.e. State Bank of India, Canara Bank, Punjab National Bank, Syndicate Bank, Vijaya Bank, Corporation Bank. Time period for the study is to The study makes use of two key parameters Net Profit and Net Worth. It is observed that two banks with lowest owner equity that Vijaya Bank and Corporation Bank have attained better results. Except State Bank of India all other banks along with Public sector banks as a whole recorded a negative growth in profitability. The year is considered year of recovery. Higher owner equity has helped the State Bank of India to yield good result whereas bigger size in case of Canara Bank has helped the bank to achieve better result. III. RESEARCH METHODOLOGY Research is to see what everybody else has seen, and to think whatnobody else has thought. To steal ideas from one person is pl agiarism, tosteal ideas from many is Research. To conduct a research study on anyselected area with limited experience and under standing is a difficult task.research is a new knowledge. It is also scientific and systematic search for pertinent information on a specific topic. 2016, RHIMRJ, All Rights Reserved Page 2 of 10 ISSN: (Online)

3 OBJECTIVES OF STUDY The basic objectives of the present study is to analyse the financial profitability and position and also discuss problem relating to the operating system in the selected nationalized banks in India. However, the objectives are proposed in depth study which is outlined as follows: 1. To analyse relationship among selected nationalized banks regarding activities and financial performance. 2. To study, compare and evaluate the profitability and performance measurement of selected nationalized banks 3. To identify the factors those have led to the current position of nationalized banks. 4. To find out the effectiveness of services provided by the nationalized banks and Provide suggestions based on the analysis carried out. HYPOTHESES H0 1 : There is no significant difference in average profitability performance of the Selected banks. H0 2 : There is no significant difference in activities and average services rendered by the selected banks H0 3 : The different factors do not play an important role on the financial performance of selected nationalized banks. H0 4 : There is no significant Relationship among selected nationalised banks regarding activities and financial performance. LIMITATIONS OF THE STUDY: 1. The study is mainly based on primary and secondary data from the published annual reports,websites and literature. 2. The researcher has covered mainly 5 nationalized banks in India for the purpose of the research. 3. The study is only based on last five year data ie., to There are various aspects to measure profitability and expert views may vary from one another on this point. On the Basis of Trend Analysis To evaluate the profitability performance of the selected banks under the study, The study base on trend analysis. 1. Average Activities and Services : COMPOUNDED ANNUAL GROWTH RATE SR.No Variables BOB BOI DB IB SBI 1. Total Assets Advances Deposits Borrowing Investment Priority sector Advances Average The above table shows that on the basis of average activities and services of the CAGR, the average growth rate is higher in the Dena Bank i.e. 17% which indicates the performance on activities is better than other selected banks in India. While the Indian bank shows lower growth i.e. 11% which is not considered good performance and must improve its services and activities. So it can be concluded that Dena Bank is better compared to Indian Bank. 2. Average profitability: Variables BOB BOI DB IB SBI Interest income Other income Interest expenses Operating expenses Operating profit Spread Burden Average The above table shows that On the basis of average profitability of the CAGR that selected five bank and its 7 variables the average growth rate was higher in the Bank of Baroda i.e % which indicates that the performance is better as compared to other nationalized bank in India. While on the other hand it may be lower growth i.e. 8.48% which is not good performance in the Indian bank and must be to improve its profitability measures. 2016, RHIMRJ, All Rights Reserved Page 3 of 10 ISSN: (Online)

4 So it can be concluded that Bank of Baroda is best and Indian Bank is worst. 3. Factor which do not play important role in financial performance : COMPOUNDED ANNUAL GROWTH RATE SR.No Variables BOB BOI DB IB SBI 1. No. of ATMs No. of Employees No. of Branches Averages The above table represented that on the basis Factor which do not play important role in financial performance CAGR that selected five bank and selected its 3 variable the average growth rate was higher in the bank of Baroda i.e % which indicates that the performance is better as compared to other nationalized bank in India. While on the other hand it may be lower growth i.e. 4.73% and % which is not good performance in the State Bank of India and Indian Bank. No. of ATM,No of employees, No of branches of the State Bank of India are higher but growth average is low than other banks, therefore must be improve its external factors by State Bank of India and Indian Bank.. So it can be concluded that Bank of Baroda is better than Indian Bank and State Bank of India. ON THE BASIS OF RATIO ANALYSIS: To evaluate the profitability performance of the selected banks under the study, The study base on various ratios analysis. AVERAGE OF PROFITABILITY RATIO (NET PROFIT) VARIBLE BOB BOI DB IB SBI net profit to total asset net profit to total income net profit to total deposit Average ratio The above Chart shows that certain selected Nationalized bank in India like Bank of Baroda, Bank of India, Dena Bank,Indian Bank, State Bank of India The graph clearly represents that growth rate in terms of Profitability ratio, are increasing and decreasing. In the average ratio of the bank of Baroda is better as compared to other bank while Bank of India average profitability ratio is lower as compared to other bank from financial year to So lastly it my concluded that bank of India must improve its performance and must increased its net profit. In the net profit over total asset profitability ratio is. bank of Baroda is high in the average ratio i.e 4.71% while on the other hand BOI is not getting higher net profit i.e 2.83% as compared to other banks. AVERAGE OF PROFITABILITY RATIO (Operating profit) VARIBLE BOB BOI DB IB SBI Operating profit to total asset Operating profit to total income Operating profit to total deposit AVERAGE RATIO , RHIMRJ, All Rights Reserved Page 4 of 10 ISSN: (Online)

5 Operating profit over the total income of State Bank of India is higher which is good for the bank and on the other hand Bank of Baroda is lower, so it must improve the financial performance and increased its profit ratio. The average ratio is higher in the State Bank of India ie. 9.44% which is good for the bank while Bank of Baroda is lowest in average ratio i.e 5.77 as compared to other ratios in the table, which must be improve its services to the customer and attract more profitability. AVERAGE SPREAD RATIO: Spread Ratios: a) Interest Income as percentage to Total Assets b) Interest Expenses as percentage to Total Assets c) Spread as percentage to Total Assets AVERAGE OF SPREAD RATIO Variables BOB BOI DB IB SBI Interest income to total assets Interest exp. To total Asset Spread to Total assets Overall Average ratio The above chart shows that certain selected Nationalized bank in India like Dena Bank, Indian Bank And State Bank of India have successfully achieved growth in terms of spread ratio. The graph shows that performance of Indian bank is better as compared to other banks but Bank of Baroda is not good. Interest income over the total asset of Indian Bank is better than other bank while on the other hand Bank of Baroda is lower interest income over total asset. interest expense over total asset shows Bank of Baroda i.e 4.10 is better as compared to other bank while the Dena Bank I,e 5.60 is Higher which is not good for the bank. The graph spread to total asset shows State Bank of India bank is in better performance while Bank of Baroda is lower compared to other bank So it is concluded that average ratio of Bank Of Baroda is not good and performance is better in Indian Bank, Dena Bank and State Bank of India. 2016, RHIMRJ, All Rights Reserved Page 5 of 10 ISSN: (Online)

6 1. AVERAGE BURDEN RATIO: Burden Ratios: a) Non Interest exp as percentage to Total asset b) Other income as percentage to Total Asset c) Burden as percentage to Total Asset AVERAGE OF BURDEN RATIO Variables BOB BOI DB IB SBI Non- interest exp to total asset Other income to Total asset Burden to Total asset Overall burden ratio The above chart shows that certain selected Nationalized bank in India like Dena Bank, State Bank of India and Indian Bank have successfully achieved growth in terms of Burden ratio. So Non-interest expense over the total asset are higher in State Bank of India SBI bank has a higher burden as compared to other bank on the other hand Bank of India has lower interest expense over total asset. so State Bank of India is not good for higher burden while Bank of Baroda is lower it get best performance and increased profitability ratio. On the other income over total asset State Bank of India is better i.e 1.09 as compared to other banks while on the other hand Dena Bank is lower i.e 0.65 which is not good for the bank. On the burden to total asset the performance of State Bank of India is higher which is not better ie 2.66 while Bank of Baroda is lower i.e 1.24 as compared to other banks which is get better performance and increased in profitability ratio. So, finally it is concluded it based on average ratio and performance of SBI are higher i.e 2.32 which is not good for the financial institutions while Bank of Baroda are lower which is goods and stable performance for the bank. 2. AVERAGE OF OTHER RELATED RATIO: To evaluate the profitability performance of the selected banks under the study, the other related ratios commonly used in banking research have been employed that will help the readers in understanding these ratios in a better way. The ratios which directly or indirectly have an impact on the profitability of the banks are as follows: Other related Ratios: Other Ratios having impact on bank profitability: a) Investment as percentage to Total Assets b) Investment as percentage to Total Advances c) Priority Sector Advances as percentage to Total Assets d) Priority Sector Advances as percentage to Total Advances e) Borrowing as percentage to Total assets f) Borrowing as percentages to Advances 2016, RHIMRJ, All Rights Reserved Page 6 of 10 ISSN: (Online)

7 g) No. of ATMs as percentage to No. of Branches h) No. of Employees as percentage to No. of Branches AVERAGE OF OTHER RELATED RATIO Variables BOB BOI DB IB SBI Investment to Total Asset Investment to total Advances Priority sector advance to total Asset Priority sector advance to total Advance Borrowing to Total asset Borrowing to Total advance No of ATMs to No. of branches No of Employees to No. of branches Overall average ratio The above chart shows that certain selected Nationalized bank in India like Bank of Baroda, Bank of India, Dena Bank Indian Bank And State Bank of India have successfully achieved growth in terms of other related ratio. State Bank of India has the best performance which is show 36.17% it considered a best performance and increased a profitability while Bank of India show lower performance which is 20.03% it must to improve its services earn higher profitability. ON THE BASIS OF HYPOTHESIS TESTING Statistical analysis of the collected information is very important task in a research work. It gives a logical support to the findings of the study. Using statistical test, one can take decision on accepting or rejecting the hypothesis. It also provides good representation of the data. Here, researcher has tried to have in-depth analysis of the collected information to achieve aims, objectives and hence goals. Analysis of Variance (ANOVA) test is used to test the statistical difference in average values of more than two group variables simultaneously. Throughout the discussion, the researcher had fixed the level of significance at 0.05 (i.e. 5%). Thus the conclusion of accepting or rejecting null hypothesis is taken on the basis of p-values. If p-value is less than 0.05, researcher has rejected null hypothesis and the conclusion drawn was shown that there was significant difference. If p-value is more than 0.05, researcher has accepted null hypothesis and the conclusion will be no significant difference. 1. H01: There is no significant difference in average profitability performance of the selected banks One of the hypotheses of study is based on the trend analysis parameters Of average profitability viz., Interest Income, Other Income, total income, Interest Expenses, Other Expenses, total expense, Net Profit, Operating Profit, Spread and Burden of the sample banks do not differ significantly that affect the average profitability of the banks. The testing of the parameters is explained hereunder: Average profitability p-value f- value Accepted or rejected Interest income Accepted Other income Accepted Total income Accepted Interest expenses Accepted Other expenses Accepted Total expense Accepted Net profit Accepted Operating profit Accepted Spread Accepted Burden Accepted 2. H02: There is no significant difference in activities and average services rendered by the selected banks One of the hypotheses of study is based on the trend analysis parameters Of average activities and services viz., Total Assets, advances, deposits, borrowing, investment and priority sector advances of the sample banks do not differ significantly that affect the average profitability of the banks. The testing of the parameters is explained hereunder: 2016, RHIMRJ, All Rights Reserved Page 7 of 10 ISSN: (Online)

8 Activities and average services P-value F- value Accepted or rejected Total assets Accepted Advances Accepted Deposit Accepted Borrowing Accepted Investment Accepted Priority sector advance Accepted 3. H03: The different factors do not play an important role on the financial performance of selected nationalized banks. One of the hypotheses of study is based on the trend analysis parameters Of Factor do not play important role on the financial measures viz., No. of ATMs, No. of Employees, and No. of Branches, of the sample banks do not differ significantly that affect the profitability of the banks. The testing of the parameters is explained here under: Factor do not play important role on the financial performance P-value F- value Accepted or rejected No. of ATMs Accepted No. of Employees Accepted No. of Branches Accepted 4. H04: There is no significant Relationship among selected nationalised banks regarding activities and financial performance. One of the hypotheses of study is based on the ratio analysis parameters of relationship among regarding activities and financial performance.viz., Interest Income to Total Assets, Interest Expenses To Total Assets, Interest Income To Total Income, Burden To Total Income, Net Profit To Total Income, Net Profit To Deposit, Operating Profit To Deposit, Investment To Advances, Borrowing To Total Assets, Borrowing To Advances, of the sample banks do not differ significantly that affect the activities, performance and profitability of the banks. The testing of the parameters is explained hereunder: Relationship Among Banks Regarding Activities And Financial Performance. P-value F- value Accepted or rejected Interest Income to Total Assets Accepted Interest Expenses To Total Assets Accepted Interest Income To Total Income Accepted Burden To Total Income Accepted Net Profit To Total Income Rejected Net Profit To Deposit Rejected Operating Profit To Deposit Accepted Investment To Advances Accepted Borrowing To Total Assets Accepted Borrowing To Advances Accepted IV. SELECTED FINDINGS AND SUGGESTIONS A. Findings: Indian Banking Sector has been operating for several decades. A banking sector needs profits not only for its existence but also for expansion and diversification in other financial areas. In the present study, profitability performance is analysed and tested to understand the efficiency of the management, as the measure of worth of their investment to the creditors, the margin of safety to employees as a source of benefits, to Government a measure of tax capacity, etc. Banks should go for deregulation of interest rates, close follow up of non-performing assets, introduction of prudential norms, voluntary retirement of old generation staff, concern for total customer care, professional managements, etc. to turn to generate surpluses, improve their performance and make banks self-sufficient. 1. According to the calculation of the CAGR Dena bank has improved its activities and services compared to other nationalized bank while Indian bank shows less development in its services and activities.thus,the growth of Dena bank in higher than Indian bank as for as activities and services are concerned. 2. According to the (On The Basis Of Trend Analysis) profitability its CAGR calculation of State Bank India, Bank of India and Bank of Baroda is better in profitability compared to Indian bank. It shows higher profitability in the Bank of Baroda. 3. According to the factor which do play important role in financial performance its CAGR Calculation of Bank of Baroda shows higher growth rate compared to Indian bank and state Bank of India lower growth rate. 2016, RHIMRJ, All Rights Reserved Page 8 of 10 ISSN: (Online)

9 4. In the above overall average profitability ratio (On Net Profit ratio) during to The ratio was higher in the Bank of Baroda.which is good while on the other hand Bank of India, Dena bank are lowest average ratio as compared to other ratio. 5. According to the average profitability ratio (On Operating Profit Ratio) of Dena bank and Bank of Baroda is not good while performance of in State Bank Of India And Indian Bank is better. 6. According to the spread ratio Bank of Baroda is not good while performance in Indian bank, Dena bank and State Bank India bank is better. 7. According to the average spread ratio ( Spread Ratio) State Bank India is good as higher ratio i.e 4.98 % while on Bank of Baroda is lower i.e 4.13 as compared to other average ratio. 8. On the basis of the average burden ratio ( Burden Ratio) State Bank India is higher which is not good for the bank while Bank of Baroda is lower which is little good for the bank. 9. On the basis other related ratio State Bank India and Dena bank are the best performances on other hand Bank of India has lower which should be improved. B. Suggestions: 1. Indian Bank should improve its activities and services and increase its growth rate. 2. Dena Bank and Indian Bank should try it increase its income and should introduce polices to minimize expenses. 3. In this case also Indian bank and State Bank of India s performance is not good it must improve its activities which are not performing better in financial performance like. Increases it branch, increased it no. of employee, and increase it no of ATMs. 4. Bank of India and Dena Bank should try to increase their net profit to total assets and net profit to deposit. 5. Dena Bank and Bank of Baroda should try to increase their operating profit to total income and operating profit to deposit. 6. On the basis spread the Bank of India and Bank of Baroda should increase their performance and spread their activities and services so profitability of the bank should be increased. 7. On the basis of the burden ratio of the State Bank India is higher i.e 2.32 which is not good. Banks should maintain their burden them self and increase their profitability and financial performance of the bank. 8. Proper action should be taken by the Bank of Baroda to increase its interest income to total assets and Dena Bank decreases its interest expenses to total assets. 9. Bank of India should be innovate their activities to reform the other related ratio. V. CONCLUSION From the analysis of profitability and performance of these banks, the researcher has found that all the banks have improved their activities and services. They have increased their branch, no. of employee and no of their ATMs also. Banks should be innovative in their activities so that they can reform their growth rates. Banks should try to increase their income and should also introduce policies to minimize expenses. *Annual Reports REFERENCES 1. Annual Reports of Bank of Baroda during the period from to Annual Reports of Bank of India during the period from to Annual Reports of Dena Bank during the period from to Annual Reports of Indian Bank during the period from to Annual Reports of State bank of India during the period from to * Books 1. Bhattacharyya D. K., Research Methodology, Excel Books, New Delhi. 2nd Edition. 2. Chandra Prasanna, Financial management- Theory and Practice,7th Edition, (2010), Tata Mcgrow Hill Publications,New Delhi. 3. Jignesh, J., A Comparative Analysis of Profitability of Selected Banks In India, M.Phil. Dissertation, Gujarat University, 2009, pp Jain S.P and Narang K.L, Advanced Accountancy, 6th Edition, (1986), Kalyani Publishers, New Delhi, Ludhiyana. 5. Khan M.Y and Jain P.K, Financial Management- Text,Problems and cases, 4th Edition, (2006), Tata Mcgrow Hill Publications, New Delh 6. Kothari C. R.(2010), Research Methodology, Methods and Techniques, New Age International (p) Ltd., New Delhi. 2nd Edition. 7. Mithani D.M., money, banking and public finance p Shekhar, K.C., and Shekhar Lekshmy, Banking Theory and Practice, p.6-7, Sinha, U.K., Banking in india, past present and future, p , RHIMRJ, All Rights Reserved Page 9 of 10 ISSN: (Online)

10 Websites: 1. of baroda.com 2. india.com Journals: 1. Aggarwal Aggarwal, H.N. (1979), A Portrait of Nationalised Banks: A Study with Reference to Their Social Obligations, Inter-India Publications, New Delhi. 2. Amandeep, (1983), Profits and Profitability in Commercial Banks, Deep and Deep Publications Pvt. Ltd., Rajouri Gardens, New Delhi Angadi and Devraj, (1983), Profitability and Productivity of Banks in India, Economic and Political Weekly, Vol. 18 (Nov. 26). 4. Angadi, V.B.; and Devraj, V.J. (1983), Productivity and Profitability of Banks in India, Economic and Political Weekly, Vol.18, No. 48, November 26, pp.m160- M Birla Institute of Scientific Research, (1981), Banks Since Nationalization. Allied Publishers Pvt. Ltd, New Delhi. 6. Gupta, M. and Goswami, S. (1986), 'Profitability and Profit Planning in Banks Establishment Cost and Staff Strength', Proceedings of Bank Economists Conference (BECON 1986), pp to Joshi, P.N. (1986), 'Profitability and Profit Planning in Banks,' Proceedings of Bank Economists Conference (BECON 1986), Indian Banks Association, Mumbai. 8. Karkal, G.L. (1982), 'Profits and Profitability in Banking,' IBA Bulletin, Vol. XXIII No.3, March 1982, Indian Banks Association, Mumbai. 9. Malhotra R N, Banking Enter a New Phase, The Journal of the Institute of Bankers, Special Number: Bank Economists Conference, Vol. 57, No. 2, April-June 1986, pages Shah S. G. (1977), Bank Personal: Manpower for Banking, Commerce, Sept., 24, Shah. S.G. (1978): Bank Profitability The Real Issues, The Journal of the Indian Institute of Bankers, 4, , RHIMRJ, All Rights Reserved Page 10 of 10 ISSN: (Online)