IIMC

ISSN:3108-0677

Vol. 02 » Issue 02 September, 2026

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Editorial

Samit Paul

Welcome to September 2026, Volume 2, Issue 2 of Artha: Journal of Business and Finance. This peer-reviewed journal is dedicated to showcasing high-quality contemporary research, with a primary focus on Accounting, Finance, and Corporate Governance. We are pleased to present this issue to you, and we hope the articles published ...

Corporate Governance and Firm Performance: Evidence from a Panel Data Analysis

Satarupa Misra and Chandu Shree Y.H

The qualitative aspect of good governance can be measure when it is linked with certain parameter. Company usually wonder that whether maintaining a sound corporate governance is giving any leverage to their business. Corporate governance (CG) is basically focus on transparency, accountability, board’s disclosure, investor involvement and related issues. Past studies showed a mixed result of CG and its impact on firm performance. In this paper we have analysed the CG and its impact on accounting based performance verses market base performance. With help of Panel data analysis, the result revealed that market based measures are influenced positively by corporate governance. Keywords: Corporate Governance, Accounting measures, Market ...

Behavioural Patterns of Investors in FinTech Adoption: A Systematic Literature Review of Sustainable Finance with ESG Frameworks

Punam Shaw and Gautam Tanty

The financial technology (fintech) has significantly transformed traditional investment, influencing investor’s perception and also reshaping the capital allocation mechanisms. This paper examine the behavioural patterns of investors in the context of fintech adoption with evaluation of growth as well as strategic orientation of fintech companies , particularly in the alignment of sustainable finance with the framework of environmental, social and governance (ESG).The research integrates investors behaviour with the technological adoption to analyse how perception ,digital literacy and environmental, social and governance (ESG) awareness influence investment decisions. This paper is using secondary data which is use for the finding reveal that investors increasingly prioritize ...

UPI Adoption and Economic Growth: Evidence from India

Sachin Gupta

This empirical paper examines the effect of Unified Payments Interface (UPI) on the economic growth of India and the shift towards cashless payment system. Using trend analysis, Compound Annual Growth Rate (CAGR) and correlation techniques, the study examines macroeconomic liquidity and digital payments adoption ...

Union Budget 2026-27 and Securities Transaction Tax hike: Taxing Trades or Curbing Speculation?

Samrat Banerjee and Amlan Chakraborty

Increase of securities transaction tax (STT) on F & O segment is one of the major announcement of the Union Budget 2026- 27. The most intriguing concern is whether this decision will adversely affect the nation’s financial ecosystem or provide a base for a more resilient and stable financial ecosystem. Sensex plummeted by 1500 points on a single day due to such announcement. The stock market recovered very well thereafter, which indicates such move has been interpreted by the investors not as a mere taxing of trades but as a long-term trade-off amidst the global economic turmoil. Though such imposition has compressed the trading volumes in F & O segment, the individual investors are motivated ...

Gender and Financial Inclusion in India: Access, Deposits, and Credit

Ashraf Pulikkamath and Meghna Chotaliya

India has expanded women’s access to formal financial services, but access indicators and gender-disaggregated banking outcomes measure different dimensions of inclusion. This paper revisits the relationship between account access, deposits and credit using official Reserve Bank of India (RBI) Basic Statistical Returns (BSR) releases and government scheme data. RBI’s March 2026 annual BSR-1 reports that women accounted for 24.7 per cent of credit within the individual-borrower segment; the March 2024 annual BSR-2 reports that female depositors held 20.7 per cent of total scheduled commercial bank deposits. These statistics have distinct denominators and cannot be combined as a matched credit-to-deposit ratio. The paper therefore treats them as descriptive indicators, not evidence that women’s deposits finance male borrowers ...

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