Dr Vinay Kandpal

Dr Vinay Kandpal

Assistant Professor

Profile Summary

Dr. Vinay Kandpal is an accomplished academician and researcher with a strong background in finance. His extensive qualifications, experience, and contributions to the field of management demonstrate his expertise and commitment to advancing knowledge in finance and related areas. Holding a D Litt (Post Doc), PhD in Finance, and Pursuing 2nd Post Doc from UNIP São Paulo, Brazil. Dr. Kandpal has over 18 years of experience across academia and industry. As an author, he has contributed extensively to the field of management, with more than 54 research papers published in leading refereed journals and five books to his name.

Dr. Kandpal has showcased his research at several prestigious international conferences, including those held at the University of Nice Sophia Antipolis in France and Oxford Brookes University in the United Kingdom. He has also presented his work at esteemed institutions such as IIM Ahmedabad, IIM Bangalore, IIM Indore, and IIT Delhi. As a Full-Time Member of the Association of North America Higher Education International (ANAHEI) in Florida, USA, Dr. Kandpal is dedicated to promoting global academic exchange and cooperation. Currently, he serves as an Associate Professor at the School of Business at the University of Petroleum and Energy Studies (UPES) in Dehradun, India.

Dr. Kandpal's expertise is recognized by his involvement in the Reviewer Boards of several well-regarded journals, including Annals of Public and Cooperative Economics, International Review of Economics and Finance, World Development Perspectives, Journal of Retailing and Consumer Services, and Journal of Public Affairs. He is associated with Humanities and Social Sciences Communications, Springer, IJEGR, IGI Global, Heliyon Business and Economics, Qualitative Research in Financial Markets and PLOS One as Editorial Board Member His research interests encompass a wide range of subjects, including sustainability, fintech, smart cities, risk management, sustainable finance, circular economy, and financial inclusion. Dr. Vinay Kandpal's impressive career highlights his commitment to advancing knowledge and fostering innovation in the fields of finance and management.

Work Experience

Before joining UPES, Dr Kandpal was associated with Faculty of Commerce and Business Management, Amrapali Group of Institutions Haldwani, Uttarakhand as Assistant Professor.

Research Interests

Sustainability, Circular Economy, Risk Management, Financial Inclusion, Smart Cities, Sustainable Finance

Teaching Philosophy

Dr. Vinay Kandpal's teaching philosophy is rooted in the belief that education should be a transformative experience that empowers students to reach their full potential. He emphasizes interactive and engaging teaching methods, encouraging active participation and critical thinking. Dr. Kandpal strives to create a supportive and inclusive learning environment where students are inspired to explore new ideas, develop practical skills, and cultivate a passion for lifelong learning. By fostering a collaborative and student-centred approach, he aims to instil a deep understanding of concepts, ethical values, and the ability to apply knowledge to real-world situations.

Courses Taught

Dr. Vinay Kandpal has taught a variety of courses in the field of finance and accounting. His expertise spans across subjects such as financial management, accounting for managers, infrastructure finance, marketing of mutual funds, financial institutions and markets, foreign exchange management and cost accounting. Additionally, he has taught courses on topics like financial analytics and advanced accounting. Dr. Kandpal's diverse range of courses reflects his broad knowledge base and his ability to deliver instruction on both foundational and specialized topics in finance and management.

Awards and Grants

  • Received Best Teacher Award from ICFAI Business School, The ICFAI University, Dehradun, Uttarakhand on September 3, 2021, on Teacher's Day Celebration.
  • Received Financial Inclusion and Literacy Leadership Award in Individual Category for work in Sustainability and Financial Inclusion by Awoke India Foundation on November 8, 2020.
  • Awarded Amity Excellence Award for Best Faculty in Infrastructure Financing at Annual International Conference INBUSH 2020, organized at Amity University Noida on February 19, 2020.
  • Awarded as "100 Most Dedicated Professors citation" by World Education Congress. The presentation ceremony was held on July 5, 2018, at Taj Lands’ End, Mumbai. The theme of the Congress is "SUSTAINABLE DEVELOPMENT GOALS, Quality Education for All."
  • Awarded CPS- Ambassador for Peace 2018 by Centre of Peace Studies, Sri Lanka, on September 18, 2018.

Scholarly Activities


  • “Financial Inclusion in Circular Economy: A Bumpy Road towards Sustainable Development”, Springer, February 2023, ISBN 978-3-031-22723-3 (Forward Written by Ms. Karuna Gopal, President, Foundation for Futuristic Cities
    and Independent Director, Engineers India Ltd. This book is Included in Prestigious Stanford University Library collections)
  •  "Prism of Banking and Financial Services in India", ABS Books, Delhi, April 2017 ISBN: 9386088347
  • "Accounting for Management", ABS Books, Delhi, May 2016 ISBN 9789386088062
  • "Financial Institutions & Markets", ABS Books, Delhi, July 2016 (Foreword written by Dr BBL Madhukar, Secretary-General BRICS and Mr. Vineet Srivastava, Director & Executive Assistant to Deputy Governor · Reserve Bank of India (RBI), India ISBN: 9789386088130
  • "Mutual Fund: An Indian Perspectives", Himanshu Publications, February 2015, ISBN 8179064646


  • Presented Paper on "Financial Inclusion Initiatives for Sustainable Business Opportunities in India" is accepted for presentation at International Conference scheduled to be organized by Aston Business School, Birmingham, UK, on October 11-12, 2021, in Virtual mode.
  • Invited as a Resource Person in Refresher Course in Commerce and Management from September 24 to September 25, 2021, for University / College teachers organized by UGC- Human Resource Development Centre, Kumaun University, Nainital, Uttarakhand.
  • Invitation as a Guest Speaker for an Online Event on "Discussion on Financial Literacy for Microfinance Customers: Role of Different Stakeholders in the State of Uttarakhand" on September 22, 2021. Presented Views on the topic "Challenges of imparting financial literacy in hilly areas of Uttarakhand". This event was organized by the Microfinance Institutions Network and Reserve Bank of India, Dehradun.
  • Department of Management and Commerce, Amrita Vishwa Vidyapeetham, Mysuru Campus invited me as a Resource person for the "Workshop on Academic Research Writing" on September 18, 2021
  • Shared my views on SHGs and MFIs Enabling Women's Economic Empowerment in Uttarakhand in a talk show, ‘Baatein Uttarakhand Ki’, organized by Amrita Devi Foundation on August 29, 2021.
  • Delivered a Lecture on India and Sustainable Development Goals organized by GLA University on June 26, 2021.
  • Invited for a Session on "INDIA'S NATIONAL EDUCATION POLICY, FOR AND AGAINST" at International e-Conference on Examinations IDEA-2021 on June 8 2021.
  • Resource person for a Session on Opportunities, difficulties and the way forward for SHGs & FPOs by NIFTEM, Sonipat, India, on May 25, 2021.
  • Resource person for a session on "How to write Literature Review and Use Mendeley for Smart Referencing in Research work" by SCPJC, Minjur, India.
  • Invitation from Entrepreneurship Development and Industrial Coordination Department, National Institute of Technical Teachers Training and Research, Chandigarh as a Resource person to speak on "Strategic Planning for Industrial Coordination" on May 19, 2021.
  • Invited as a Speaker in National Seminar on "Execution & Implication of National Education Policy (NEP)" on April 17, 2021, by Greater Noida Institute of Technology, Greater Noida.
  • Invited for an expert lecture in the ICT mode training program on "Total Quality Management and ISO 9000:2015 from 12th - 16th April 2021" by Entrepreneurship Development and Industrial Coordination Department, National Institute of Technical Teachers Training and Research, Chandigarh
  • Jury Member for Vishwakarma Award Awarded in April 2021 by AICTE New Delhi
  • Resource Person in UGC HRDC Refresher Course organized by Kumaun University Nainital December 28-29, 2020.
  • Resource person by National Institute of Technical Teachers Training and Research, Chandigarh, India, for an Online Workshop on Employability August 10 -14, 2020.
  • Guest Speaker on Pandemic, Financial Planning and Asset Diversification organized online on July 25, 2020, by SEBI and AWOKE India Foundation.
  • Voice of Research Excellence on "Banking in a Post COVID-19 period Chances, Challenges and Strategies" organized online on June 26, 2020, at 2 PM (Morocco Time) 2020. Africa Business School, UM6P, Morocco
  • Guest of Honour and Talk on Finclusion: Redefining banking for customers in Uttarakhand, India in Conference on Strategies for Reshaping Business and Economy: Reinventing and Predicting Management Practices November 22-23, 2019, organized by Shobhit University.
  • Invited Talk at GIBS Network conference in September 2019 at Oxford Brookes University, Headington Campus, Oxford.
  • Conference on "Gujarat-A Gas Based Economy: How Indian States can learn from it?" to be held on March 29, 2018, at AII, Shantigram, as a Panelist.
  • InfraConclave 2018 Edition as a Panelist on Future and Sustainable Cities, June 15-16, 2018, at ITC Maurya, New Delhi.
  • Workshop "Finance for Non-Finance Executives" organized by SEWS Pantnagar Rudrapur (Uttarakhand), India, on September 1, 2018, as Keynote Speaker.
  • International Conference FOBE organized at IMT Ghaziabad November 22-23, 2018, as a Session Chair.
  • National Seminar on Sustainable Development through Gender Equality organized by Department of Business Studies, Sam Higginbottom University of Agriculture, Technology and Sciences, Allahabad as Guest of Honour for Session on Financial Risk Management, Legislation Issues and Security on April 28, 2017.
  • Chaired a Session at the 2nd International Business Summit organized by Amity International Business School on September 15, 2017.
  • Workshop for Executives working in NBFCs and MFIs as an Invited Speaker on the Topic "Financial Inclusion in Uttarakhand and Role of NBFCs and MFIs" on September 27, 2017, organized by MFIN Network in collaboration with RBI Dehradun.
  • Manthan on "Managing VUCA: Challenges and Opportunities" as an Expert. The event was organized by Faculty of Commerce, Business and Management, Amrapali Group of Institutions, Haldwani, Uttarakhand, India on November 3, 2017, and presented my thought on Digitalization: A game changer for Indian Economy.
  • 2nd International Workshop on Smart Innovations for Sustainable Cities (SISC) - Digital Innovation for Smart Ecological Services (DISES), University of Nice Sophia Antipolis as an Invited Speaker(Resource Person) and talked on Smart City Projects in India: Issues and Challenges in Developing, Implementing and its Financing on November 28, 2017. They had a Special Session on Smart Cities in India.
  • 4th International Conference on Emerging Trends in Finance & Accounting August 21 & 22, 2015, SDMIMD Mysore, India, as a Session Chair.
  • Conference on Infrastructure Financing organized by the CII Ahmedabad at Hyatt Regency, Ahmedabad, on 11th -12th September 2015.
  • AIMA's 42nd National Management Convention "Making it Happen: Leadership in Times of High Expectations" September 30 – October 1, 2015, at Hotel Taj Palace, New Delhi as a Special invitee.


  • Sharahiley, Sanawi; Kandpal, Vinay (2023), "The Impact of Monetary and Non-Monetary Reward Systems upon Creativity: How Rational Are Saudi Professional Employees", International Journal of Work Organization, In Press (ABDC B Category, Scopus Indexed)
  • Srivastava, Barun; Kandpal, V (2022), "Mobile Banking: A Bibliometric Analysis”, International Journal of Business Information Systems, In Press, (Indexed in Scopus, ABDC C Category)
  • Kandpal, V. (2022), "Socio-economic development through self-help groups in rural India – a qualitative study," Qualitative Research in Financial Markets, Vol. 14 No. 5, pp. 621-636. https://doi.org/10.1108/QRFM-10-2021-0170 (Indexed in Scopus and WOS, ABDC B Category)
  • Kandpal, Vinay; Kaur, Harmeet, "Pradhan Mantri Jan Dhan Yojana: Bringing Financial Inclusion to Reality," Finance India December 2021 (Vol XXXV No 3). This Journal is Scopus-indexed and ABDC C Category.
  • Pandey, Jyoti; Kandpal, Vinay; Nautiyal, Neeraj, "An Analysis of Abnormal Returns Associated with Stock, The Singapore Economic Review, ABDC B Category, Scopus and WOS indexed.
  • Nautiyal, Neeraj, Kandpal, Vinay, “Non-linearity between economic indicators and Indian Capital Market", FIIB Business Review, Sage Publications, (Scopus Indexed), ABS 1, doi: https://doi.org/10.1177/23197145211035483
  • Sharma, Ridhima, Kandpal, Vinay, "COVID-19 pandemic and International Migration: An Initial View", Sustainable Operations and Computers, Elsevier, June 2021, Vol 2, pp: 122-126 (Scopus Indexed)
  • Kandpal, Vinay, Nautiyal Neeraj, "Women Empowerment: Key for Socio-Economic Development in India," Accepted for publication (April 2021) in International Journal of Business Innovation and Research, Inderscience, (Scopus Indexed), ABS 1, (In Press)
  • Kandpal, Vinay, Dutta, Veena, Khalif, Osama, Smarter and Sustainable Future Cities - An Extensive Literature Review, Accepted for publication in International Journal of Business Excellence, Inderscience, (Scopus Indexed)(In Press) Accepted in February 2021, doi: 10.1504/IJBEX.2021.10039730
  • Yadav, Shruti; Antil, Neha; Gupta, Deepa; Kandpal, Vinay, A panel data examination of income inequality in 24 African countries, Journal of Public Affairs Wiley (November 2022)- ABDC B, Indexed in Scopus and WOS
  • Kandpal, Vinay; Chand, Deep; Gangwar, Veer, Examining Non-Performing Assets in Financial Institutions in India, International Journal of Business and Globalization, Inderscience, Article in Press, Scopus Indexed (Aug 2020 acceptance)
  • Kandpal, Vinay, Impact Analysis of Global COVID-19 Crisis– A Review, International Journal of Business Excellence, Inderscience – Article in Press, Scopus Indexed (Sept 2020 acceptance), Doi: 10.1504/IJBEX.2020.10035976
  • Kandpal, Vinay; Kavidayal, P.C., Financial Inclusion in India breaking the Myths and Challenges: The Case of Uttarakhand, Test Engineering and Management, Jan 2020. Journal is Scopus Indexed and UGC-approved. ISSN:0193-4120
  • Kandpal, Vinay; Sharahiley, Sanawi, Economic and Financial Viability study of Dedicated High-Speed Rail Network between Mumbai and Ahmedabad published in Jan 2020 issue, International Journal of Advanced Science and Technology, Vol. 29, No. 2, (2020), pp. 3560 – 3567. Journal isScopus Indexed and UGC-approved. ISSN: 2005-4238
  • Kandpal, V. (2020). Role of regulators in intensifying financial access to the untouched segment of society in developing countries. Corporate Governance and Organizational Behavior Review, 4(1), 8-14. https://doi.org/10.22495/cgobrv4i1p1
  • Kandpal, V. (2020). Non-performing assets in India: A critical analysis of public and private sector banks. Corporate Governance and Sustainability Review, 4(1), 65-73. https://doi.org/10.22495/cgsrv4i1p6 This is ABDC C-ranked Journal.
  • Kandpal, Vinay; Mehrotra, Rajat; Chandra, Deep, "Role of SHGs and MFIs towards Women Empowerment and Reducing Gender Stereotypes in Uttarakhand, India" is published in International Journal of Psychosocial Rehabilitation, Volume 24 Issue 6, April 2020. This is Scopus Indexed Journal.
  • Kandpal, Vinay; Chandra, Deep, “Impact of Credit Risk Management on Financial Performance of Banks– A Case of Nainital Bank”, published in Test Engineering and Management, March -April 2020. Journal is Scopus Indexed and UGC-approved. ISSN:0193-4120.
  • Kandpal, Vinay, "Reaching Sustainable Development Goals: Bringing Financial Inclusion to Reality in India", Vol 20 Issue 4 November 2020 Journal of Public Affairs, Wiley. Its B ranked in ABDC, indexed in Web of Science Emerging Sources Citation Index (ESCI) and Scopus. Doi https://doi.org/10.1002/pa.2277
  • Parmhender; Himanshu; Kandpal, Vinay, "Determining interlinkages between the measures of financial literacy: An MCDM approach", Journal of Public Affairs, Wiley. Its B ranked in ABDC, indexed in Web of Science Emerging Sources Citation Index (ESCI) and Scopus. Doi https://doi.org/10.1002/pa.2287
  • Kandpal, Vinay; Khalaf, Osamah Ibrahem, Artificial Intelligence and SHGs: Enabling Financial Inclusion in India, January 2020, In book: Deep Learning Strategies for Security Enhancement in Wireless Sensor Networks, IGI Global, DOI: 10.4018/978-1-7998-5068-7.ch015
  •  Kandpal, Vinay; Chanchal, Ashu, "A Study of Impact of Working Environment on the Organizational Commitment of Employees in Banks", Ajanta Journal Volume VIII Issue 1 Jan-March 2019. This Journal is UGC approved.
  • Kandpal, Vinay; Mehrotra, Rajat, A Study of Awareness of Mutual Funds and Investment behavior of Retail Investors in Uttar Pradesh and Uttarakhand JBIMS Spectrum published by Jamnalal Bajaj Institute Mumbai, Jan 2019.
  • Mehrotra, Rajat; Kandpal, Vinay, "Impact of Digital Payment Apps on Users: A Case Study on Perspective of Rural Population in selected regions of Uttarakhand and Uttar Pradesh", Finance India March 2019, ISSN: (Vol XXXIII No 1), pp 135—150. Finance India is Scopus Indexed and ABDC C Ranked.
  • Kandpal, Vinay; Mehrotra, Rajat, "Financial Inclusion: The Role of Fintech and Digital Financial Services in India", Indian Journal of Economics and Business, ISSN 0972-5784, Vol 18 No April 1 2019, pp: 85-93, ABDC C Ranked Journal.
  • Kandpal, Vinay; Mehrotra, Rajat, Mergers and Acquisitions of Banks in India: A Case Study of Vijaya, Dena and Bank of Baroda, International Journal of Advance and Innovative Research, ISSN 2278-7844 Vol 6 Issue 2 April –June 2019. This Journal is UGC approved Journal.
  • Kandpal, Vinay, Smart City evolution in India: the case of Dehradun, Nagpur and Allahabad, Casebook titled Smart City Emergence: Cases from Around the World Edited by Leonidas Anthopoulos. (Elsevier), ISBN: 9780128161692 in June 2019.
  • Ghosh, Pratik; Banerjee, Ratna; Kandpal, Vinay, "Factors and Constraints to Be Considered for the Implementation of a Unified Data Platform for Operational Intelligence and Analysis of the Power Sector", International Journal of Recent Technology and Engineering (IJRTE) ISSN 2277-3878, Volume-8 Issue-2, pp 5753-5760, July 2019. The Journal is Scopus Indexed and UGC-approved.
  • Ghosh, Pratik; Banerjee, Ratna; Kandpal, Vinay, "Process Map of a Unified Data Platform for Operational Intelligence and Analysis of Power Sector" International Journal of Innovative Technology and Exploring Engineering (IJITEE) ISSN: 2278-3075, Volume-8 Issue-10, pp 4037-46, August 2019. The Journal is Scopus Indexed and UGC-approved. 10.35940/ijitee.J9809.0881019
  • Kandpal, Vinay; Mehrotra, Rajat; Gupta, Sumeet, "A Study of Post Demonetization Impact of Limited Cash Retailing in Uttarakhand India" published in Humanities & Social Sciences Reviews, ISSN 2395-6518, 7(5), pp: 1007-1020, November 2019, GIAP Journals. Journal is Scopus-indexed and UGC-approved.
  • Kandpal, Vinay; Mehrotra, Rajat, "A case study on penetration and investment pattern of mutual funds in selected regions in India", coauthored by Prof. Rajat Mehrotra in Amity Global Business Review (AGBR). AGBR is well cited and indexed in EBSCOhost, UGC Approved Journal, Cabell's Directory, and Ulrich Web Global Serials Directory, March 2018.
  • Kandpal, Vinay, "A Case Study on Smart City Projects in India: An Analysis of Nagpur, Allahabad and Dehradun" Proceeding of Companion Proceedings of the Web Conference 2018, Lyon, France — April 23 - 27, 2018, Pages 935-941, ISBN: 978-1-4503-5640-4, doi>10.1145/3184558.3191522
  • Kandpal, Vinay; Mehrotra, Rajat, "Role of Behavioral Finance in Investment Decision-A Study of Investment behavior in India", International Journal of Management Studies (Print ISSN: 2249-0302, Online ISSN: 2231-2528, UGC Approved Journal No.44925 DOI: 10.18843 Impact Factor (IBI): 2.26) in Volume 4, Issue – 6, October 2018, pp 39-49
  • Kandpal, Vinay; Gupta, Sumeet, "Hedging in Agriculture Commodity", Journal of Global Economy, Vol 14 No 4 (2018), pp: 41-50: Special Issue UPES Agro-supply Chain Conference, UGC Approved Journal
  • Kandpal, Vinay, "Shaping India's Future by Building Smart Future Sustainable Cities", International Journal of Electronic Government Research (IJEGR) 14(4), October 2018 Issue. This Journal is Indexed in Scopus, ABDC C ranked, Web of Science Emerging Sources Citation Index (ESCI) and UGC approved.
  • Kandpal, Vinay, "A Review of Opportunities and Challenges for Financial Inclusion in India" Book chapter in the book titled "Innovation and Sustainable Development". The book is published by Bloomsbury Publications, bearing ISBN: 9789386349583, December 2017
  • Narsinghani, Sharonn; Kandpal, Vinay "Role of Digital Mode or Cashless transactions in Transaction in Transforming India", Conference proceedings with ISBN 978-81-928887-0-5 of the International Conference on "Emerging Trends in Applied Finance and Business Economics" organized by ICFAI Business School, Pune on May 20, 2017
  • Kandpal, Vinay; Gupta, Sumeet, "Impact Analysis of Demonetization on Retailers and Citizens of Uttarakhand", Conference proceedings with ISBN 978-81-928887-0-5 of the International Conference on "Emerging Trends in Applied Finance and Business Economics" organized by ICFAI Business School, Pune on May 20, 2017.
  • Kandpal, Vinay; Tyagi, Vikas; Kaur, Harmeet, Smart Cities and Financial Planning has been published in Financial Planning Journal as Focal Point / Cover Story in October 2017 Issue.
  • Kandpal, Vinay; Kavidayal, P.C.; Gupta, Sumeet, "Financial Inclusion Through Various Government Schemes: A Case Study with Reference to Uttarakhand, India "ECCH (European Case Clearing House) October 2017
  • Kandpal, Vinay; Kavidayal, P.C., "Alternative ways of Financing Infrastructure Projects in India", Conference Proceeding of 1st Conference on Facets of Doing Business in Emerging Markets in IMT Ghaziabad, 28th -29th July 2016, published by Emerald ISBN 9781786354129
  • Kavidayal, P.C.; Kandpal, Vinay "A Study on Extent of Financial Inclusion among Rural Households in Bageshwar District of Uttarakhand, India", International Journal on Arts, Humanities, Social Sciences & Business Studies Shodh-Sandhan 2016, Vol. 01, Issue. 02, April-May ISSN 2455-4804
  • Kandpal, Vinay, "An Analysis of Working Capital Management in Select Construction Companies" was published by Journal of Commerce and Management Thought Year: Jan 2015, Volume: 6, Issue: 1 Indexed with Indian Citation Index, EBSCO Discovery, Google Scholar, DST (Government of India), INFLIBNET (UGC)
  • Kandpal, Vinay; Kavidayal, P.C., “A Study of Dividend Policy and Its Effect on Market Value of Shares of Selected Banks in India”, IOSR Journal of Business and Management (IOSR-JBM) e-ISSN: 2278-487X, p-ISSN: 2319-7668. Volume 17, Issue 1. Version I (Jan. 2015)
  • Kandpal, Vinay; Kavidayal, P.C., "A Comparative Study of Selected Public & Private Sector Equity Diversified Mutual Fund Schemes in India" IOSR Journal of Business and Management, e-ISSN: 2278-487X, p-ISSN: 2319-7668. Volume 16, Issue 1. Version. I, Jan. 2014
  • Kandpal, Vinay; Kavidayal, P.C., "A Review of Corporate Social Responsibility and Business Ethics in Corporate Strategy", Journal of Management & IT – ACME ISSN: 0974-1763, Vol:10, Issue 1, September 2014
  • Kandpal, Vinay; Kavidayal, P.C., "An Overview of the Impact of Tax Incentives on Foreign Direct Investment in India", Journal of Commerce and Management Thought, Print ISSN 0975-623X, Online ISSN 0976-478X Volume 5 Issue 4 Page: 557-573 (October 2014) Indexed with Indian Citation Index, EBSCODiscovery, Google Scholar, DST (Government of India), INFLIBNET (UGC)
  • Kandpal, Vinay; Kavidayal, P.C., "Implications of Working Capital Management on Profitability: A Case of ONGC Ltd." Indian Journal of Commerce and Management Studies, ISSN: 2240-0310, May 2013, Vol. 4, Issue 2, Page: 49-53