JUNE-2025 – ABPI

June 2025 Volume 41 Issue 06

1. BRIDGING THE GAP BETWEEN FINANCIAL LITERACY AND FINANCIAL INCLUSION: INSIGHTS FROM RURAL NEPAL

Authors: SURENDRA MAHATO¹, DILLI RAJ SHARMA², BINOD SHAH³ and BINAY SHRESTHA⁴

Abstract

Having financial literacy and belonging to the financial sector are key to empowerment and the development of the economy. Being financially literate helps you understand and use financial concepts, but financial inclusion is about opening equal access to financial services. This study explores how financial literacy and financial inclusion are related and how cognition works as a moderator for impoverished people in rural Kirtipur, Nepal. Using a structure questionnaire, an active selection of 441 participants was made for the survey. The study included things like financial literacy (knowledge, abilities, attitude, and behavior), cognitive functions (procedural and declarative) and how financially included people are (whether they have access, use services, how the services work and their well-being). Results indicated that people’s financial knowledge, financial skills and attitudes support being financially included. Cognition played a big role in making both financial literacy and financial inclusion easier for many individuals. Additionally, it found that while financial attitude and behavior in people’s lives had a stronger impact on financial inclusion, their level of financial skill did not. Interestingly, cognition lessened the harmful effect of having financial knowledge on inclusion. The findings show that cognition is important for improving people’s financial judgments and use of financial resources. Helping underserved money managers improve their thinking skills can make a big difference in boosting their inclusion in financial systems. This study helps policymakers, banks and those in the technology sector design reliable financial literacy efforts that support both the economy and the fair treatment of people.

Keywords: Financial Literacy, Financial Inclusion, Financial Attitude, Financial Behavior, Nepal.

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2. IMPACT OF JUDICIAL INTERPRETATION ON INTERGOVERNMENTAL RELATIONS

Authors: DEEPTI SACHDEVA¹* and Dr. DIVYA SHARMA²

Abstract

This paper examines the pivotal role of judicial interpretation in shaping intergovernmental relations within federal systems. It explores how courts define constitutional boundaries and regulatory obligations by clarifying ambiguous statutes and applying doctrines such as the pith and substance test and inter-jurisdictional immunity. By delineating the division of powers among federal, state, and local governments, judicial interpretations prevent overreach while promoting cooperative federalism. The study investigates how courts resolve conflicts between divergent governmental policies and the impact of these decisions on regulatory regimes, funding allocations, and administrative practices. A comparative analysis of activist and restrained judicial models is provided. An activist approach reinterprets laws to protect minority rights and check majority power, though it risks politicizing the judiciary and straining inter-branch relations. In contrast, a restrained model defers to democratically elected officials, preserving legitimacy but potentially allowing repressive policies to persist. The paper reviews key court decisions and examines intergovernmental disputes in systems such as those in Canada, Australia, and India, as well as international cases adjudicated by the International Court of Justice. Ultimately, the analysis demonstrates that judicial interpretation is essential for maintaining constitutional order, ensuring balanced intergovernmental relations, and adapting to contemporary governance challenges effectively globally.

Keywords: Judicial, Court, Federal, Judiciary, Interpretation.

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3. AI-ASSISTED LEARNING VS TRADITIONAL METHODS: A COMPARATIVE STUDY OF STUDENT PERFORMANCE IN BUSINESS COMMUNICATION COURSE

Authors: PARAMJIT SINGH LAMBA¹ and NEERA JAIN²

Abstract

A significant scholarly interest is currently visible in the literature on the use of artificial intelligence tools such as ChatGPT in management education and its effect on the learning and performance of students at higher education institutes. This study explores the impact of ChatGPT on the productivity and quality of outcome of assignments written by the students in a business communication course, while assessing ethical considerations and the risk of high dependence on such tools. Using the qualitative experimental approach, we created two groups: an experimental group, which uses ChatGPT, and a control group, which uses the conventional approach, with a total of 60 participants. After the assignment from both groups was submitted, focus group discussions were conducted to explore deeper insights into the experiences of the participants. The findings reveal that ChatGPT boosted the confidence of the participants while composing their business communication assignment. It also provided a better structure and quality of the output as compared to the student’s own perceived competence. However, there were significant apprehensions about the legitimacy of such content, the honesty of the scholars using such tools, and the possibility of high dependency on artificial intelligence. This research contributes to emerging work on this theme by highlighting the complex role of ChatGPT and other such tools in teaching and learning business communication. It also presents opportunities for enhancing competencies while raising questions about appropriate utilization. This study also highlights the need for oversight by educators while leveraging artificial intelligence and proposes areas for research by future scholars.

Keywords: Business Communication, ChatGPT, Artificial Intelligence, Qualitative Methodology, Experimental Study, Ethics.

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4. THE CHALLENGES AND OPPORTUNITIES OF BLOCKCHAIN IN FINANCIAL SYSTEMS: A DEEP DIVE INTO DECENTRALIZED FINANCE (DeFi): ITS IMPACT ON TRADITIONAL BANKING

Authors: Dr. C. NAGA SIVANAND¹ and Dr. M. GEETA²

Abstract

The subject of discussion has become the effects of the blockchain and decentralized finance (DeFi) on conventional banking, as well as the perspectives and threats of such solutions. The study explores the impact, risk-adjusted returns, inequality features, and transaction characteristics of the DeFi platforms with the incumbent banking systems by adopting PageRank analysis, Sharpe ratio evaluation, Gini Index measurement, and K-means clustering. The PageRank analysis revealed that traditional banks generally hold higher influence scores (JPMorgan). Compared to other DeFi platforms such as Uniswap, Curve has a slightly lower cash cow coefficient equal to 0. The result of the Sharpe Ratio analysis revealed that overall DeFi platforms like Uniswap have a Sharpe ratio of 0.60, which is higher than the Sharpe ratio of US Treasury Bonds 0. The Gini Index measurement indicated greater inequality in transaction distribution among DeFi platforms (Compound). Further, there is the fee per transaction charged to the client, which varies, where in the case of PayPal, it is $0. 45, whereas in traditional banks, it is $0. According to the K-means clustering, the existing financial behaviors were analyzed, and traditional banks dominated in the aspect of transaction volumes and market capitalization as compared to the DeFi platforms. This research highlights the benefits of blockchain applications and DeFi in improving financial systems while identifying the barriers that people would encounter when applying them, including fluctuation and imbalance. Thus, the conclusion of this research calls for further investigation of the possibilities of the consultation of decentralized systems within the current framework of regular banking.

Keywords: Blockchain, Decentralized Finance (DeFi), Traditional Banking, Sharpe Ratio, PageRank.

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Accountancy Business and the Public Interest

Accountancy Business and the Public Interest

June 2025 Volume 41 Issue 06