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Title: An Analytical Study of the Legal Position and Role of Securities & Exchange Board of India (SEBI)

Abstract: This paper highlights a long journey towards regulatory enhancement within the SEBI ecosystem through the lens of data analysis. The objective is to clear amalgamate existing SEBI systems with those deemed desirable according to the fundamental principles of regulation. It also provides the whole outcome of the research study based on the analysis. It also suggest various policy implications to the researcher and government for an efficient and transparent regulatory environment in the country. In conclusion, it provides a thorough analysis of the enforcement procedures employed by the Securities and Exchange Board of India (SEBI), elucidating their effectiveness, equity, and efficiency. Through rigorous data analysis and empirical inquiry, we have dissected the regulatory landscape, uncovering insights that transcend mere statistics. Our findings add to the current conversation about how well regulations work, how accountable institutions are, and how safe investors are in India's financial markets. They also aim to make SEBI's regulatory system more open, accountable, and trustworthy.

By M.P. Verma, Deepa Singh Yadav
In Volume: 14,Issue: 2
Title: A Comparative Performance Appraisal of Bajaj Finance Ltd. and Tata Capital Financial Services Ltd.

Abstract: Non-Banking Financial Companies (NBFCs) play a crucial role in the Indian financial system by complementing banks in providing credit, promoting financial inclusion, and offering specialised financial services. The present study aims to evaluate the performance of selected NBFCs in India using key financial indicators. This research analyses profitability, liquidity, solvency, and efficiency ratios to assess the overall financial health of these organisations. Secondary data has been collected from annual reports and published financial statements of the selected NBFCs for a specific period. The findings reveal performance variations among NBFCs, highlighting strengths, weaknesses, and areas for improvement. This study conducts a comparative performance appraisal of two major Non-Banking Financial Companies operating in the National Capital Region (NCR) of India: Bajaj Finance Ltd. (Gurgaon) and Tata Capital Financial Services Ltd. (Noida). Using key financial metrics such as Assets Under Management (AUM), profitability ratios (Return on Assets - ROA, Return on Equity - ROE), net interest margin (NIM), asset quality (non-performing assets - NPAs), and capital adequacy, this paper evaluates the financial health, operational efficiency, and performance dynamics of both NBFCs. The findings highlight significant differences arising from their business strategies, asset quality, and scale of operations, providing actionable insights for investors, regulators, and stakeholders.

By Firoj Ahmed, Arvind Kumar Yadav
In Volume: 14,Issue: 2
Title: Building Resilience in the Gig Economy: A Systematic Review of Adaptive Strategies and Future Research Agendas

Abstract: Purpose: This article examines the role that psychological resilience plays in helping gig workers navigate the uncertainties and pressures of platform-based labour. The primary objective is to identify important elements contributing resilience and propose practical implications for those in HR positions and for policy makers. Design/methodology/approach: A systematic literature review was conducted in the Scopus database searching from 1,528 studies published between 2015 and 2025. A total of 56 peer-reviewed articles were selected for systematic review after careful examination. The data for study was also visualized to reflect sources, co-authorship relations, and the connections of their keywords. Findings: The research finds that psychological resilience in gig workers is a function of the right mixture of personal characteristics (such as optimism and good emotional control), how meaningful they find their work, and how strong their social support system is. Conversely, resilience is eroded by the problems of surveillance algorithms, precarious income, and social isolation. Effective answers include transparent control of algorithms, built-in well-being resources in apps, digital peer support groups, and portable benefits. There are still research gaps, especially concerning longitudinal data, representation from the Global South and larger-scale interventions. Practical Implications HR professionals and platform managers can enhance resilience by introducing mental health resources, promoting peer support and positively acknowledging gig workers’ contributions. Policymakers should focus on legal status, data rights and social protection to make gig work a viable choice.

By Aakanksha Bansal, Pankaj Kumar
In Volume: 14,Issue: 2
Title: Modeling the Engel Curve for Sustainable Development: Strategies and Applications for the Income-Employment Nexus in South Asia

Abstract: This study investigates the relationship between national income and tourism expenditure, framed within the context of the Engel curve, for six South Asian nations with significant potential for Halal tourism: Bangladesh, India, Maldives, Nepal, Pakistan, and Sri Lanka. Utilizing a Generalized Least Squares (GLS) model on panel data from 2000 to 2024, we analyze the impact of GDP per capita on outbound tourism expenditure. Our findings indicate a positive and elastic income elasticity of tourism demand (0.989), signifying that tourism is a luxury good and that financial outlay on travel increases more than proportionally with income. The results underscore the critical opportunity for these countries to develop their Halal tourism sectors to capture a share of this elastic expenditure, thereby fostering economic diversification and employment generation. The study concludes with targeted policy recommendations aimed at leveraging this income-elastic demand for sustainable economic development.

By Md. Mahmudul Hassan, Tareq Imam Zahid
In Volume: 14,Issue: 2
Title: The Inflation-Unemployment Trade-Off in Bangladesh: Empirical Insights for Accelerating Progress towards Zero Poverty (SDG 1)

Abstract: This study empirically investigates the inflation-unemployment trade-off in Bangladesh and assesses its implications for achieving Sustainable Development Goal 1 (SDG 1) of zero poverty. High inflation erodes the real income of the poor, while unemployment directly limits earning capabilities, making the interplay between these variables a central determinant of poverty reduction. Using annual time-series data from 1990 to 2024, we employ an Autoregressive Distributed Lag (ARDL) model to test for the existence and stability of a long-run relationship. Our findings confirm a significant short-run trade-off but reveal that this relationship is unstable and weakens in the long run, suggesting that other structural factors dominate. The results indicate that unanticipated inflationary shocks disproportionately harm the poor, and persistent unemployment remains a formidable barrier to inclusive growth. The study concludes that a singular focus on either price stability or employment generation is insufficient for attaining SDG 1. Instead, Bangladesh requires an integrated policy framework that combines prudent monetary policy to control the inflation rate with targeted fiscal measures, investments in human capital, and productive sector diversification to generate new employment opportunities. This holistic approach is essential to effectively manage the trade-off and accelerate progress towards eliminating poverty.

By Shuvongkor Kumar Datta, S.K.S. Yadav, Jubair Ansary, Ariful Islam
In Volume: 14,Issue: 2
Title: An Analytical Study of the Legal Position and Role of Securities & Exchange Board of India (SEBI)

Abstract: This paper highlights a long journey towards regulatory enhancement within the SEBI ecosystem through the lens of data analysis. The objective is to clear amalgamate existing SEBI systems with those deemed desirable according to the fundamental principles of regulation. It also provides the whole outcome of the research study based on the analysis. It also suggest various policy implications to the researcher and government for an efficient and transparent regulatory environment in the country. In conclusion, it provides a thorough analysis of the enforcement procedures employed by the Securities and Exchange Board of India (SEBI), elucidating their effectiveness, equity, and efficiency. Through rigorous data analysis and empirical inquiry, we have dissected the regulatory landscape, uncovering insights that transcend mere statistics. Our findings add to the current conversation about how well regulations work, how accountable institutions are, and how safe investors are in India's financial markets. They also aim to make SEBI's regulatory system more open, accountable, and trustworthy.

By M.P. Verma, Deepa Singh Yadav
In Volume: 14,Issue: 2

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