...Essay on the Role of Banking in India's Developing Economy One of the major considerations that led to the nationalization of the fourteen major commercial banks of India in 1969 was the fact that banks, in general, had been negligent of the vital priority sectors of the economy, viz., agriculture and small-scale industries. The commercial banks had remained largely indifferent to the credit needs of the farmers for agricultural operations and land improve¬ment. A handful of people were able to exploit the bank finance to serve their own individual interests and convenience. Very often, they used bank funds for the hoarding of essential articles and for specialization, thus nurturing anti-social elements. Nationalization brought about a major policy shift in the working of these banks. The economic development of our country depends more on real factors like the industrial development, modernization of agri¬culture, organization of internal trade and expansion of foreign trade, especially exports, and less on the monetary factors contri¬buted by banking— Economic planning like laying down of specific targets and allocating particular sums of money that constitute the economic policy of the government also plays a significant role. Still we cannot under-estimate the importance of banking and the monetary mechanism. One of the most important problems of a developing economy is that of capital formation. There is a good deal of difference between hoarding and saving and the people...
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...Standard Front Page for 48-hours essay, Methodological Workshop (5 ECTS) and synopsis Compulsory use for all 48-hours’ essays, Methodological Workshop (5 ECTS) and Synopses on the following subjects: • International Develoment Studies • Global Studies • Erasmus Mundus, Global Studies – A European Perspective • Public Administration • Social Science • EU-studies • Public Administration, MPA Course title: International Development Kind of assignment (48-hours essay, Methodological Workshop (5 ECTS) and synopsis): 48-hours essay Question number: 1 Student’s name: Edda Maria von Wildenradt Study card no./Birthday: 51970 Keystrokes/characters including spaces (Please look at the supplementary provisions for maximum-value): 14359 Submission date: 03-06-2015 Roskilde Universitet Den samfundsvidenskabelige bacheloruddannelse 2 In the following essay I will address some specific issues in the global South that are influenced by international trade and trade regulation. This essay will provide a critical perspective on how international trade and trade regulations function and by this rise following questions: Which consequences have the international trade and trade regulation had in the given periods? Who benefits from the international trade and trade regulation? And lastly, is international trade and trade regulation only designed to benefit one part of the world - the West? Why are...
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...the rules and procedures and also decision making assistance on corporate affairs. By doing this, italso provides the structure through which the company’s objectives are set and the means of obtaining those objectives and monitoring performance. Corporate governance may be the ways of bringing the interests of investors and managers into line and ensuring that firms are run for the benefit of investors. Given the state of the economy of Pakistan in 2010, troubled as it is; ideally it would be more desirable to look at the governance issues at macro level for Pakistan. As a famous economist, Dr Shahid Javaid Burki- a long observer of Pakistan’s economy has recently stated “Pakistan can generate a greater bounce in its economy than India by creating better governance. It has occurred before in the country’s difficult economic history and could happen again.” (Improved Governance: Dawn, 12th, October 2010). However, as a starting point , in this paper we look at closely the governanceissues for the banking, a sector which has played a significant role till recent years in economic activity of Pakistan. Rehman et al (2010) have looked at the issue of corporate governance in Chemical and Pharmaceutical sectors of Pakistan and found that there is a significant impact of corporate governance on the shareholder’s returns in pharmaceutical sector of Pakistan. Corporate governance has become...
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...SBI PO 2013 Essays, Letter Writing, Paragraph Writing, Precise Writing Essays: Write an essay on any one of the following topics in approximately 250 words. * Women Entrepreneurs in India. * Importance of Investment. * Essay on SME. * Banks play a vital role in day to day life. * Entrance Exam – An evil. * Pros n cons of winning lottery. * Women Bill. * Women security at the workplace a deep concern. * Inclusive growth. * Cottage Industries. * Socialism. * Blessings of science. * Dowry deaths. * My Motherland. * Banks are manufacture of money. * Features of economic recession. * A day when everything went wrong. * The risks of trading at the stock market. * The impact of interest rate changes on the economy. * Responsibility of media in moulding public opinion. Letter Writing: Write a Letter in about 150 words on any one of the following: * Letter to your sibling advising him/her to prepare for a competitive exam. * Writing a job offer acceptance letter for the post of Assistant Manager. * Complaint to CEO regarding the extra work in office. * Letter to sibling for telling benefits for future of money saving. * Letter to bank manager requesting to extend the joining period as you have received the offer letter for the bank job. * Write a letter to the Editor, the Hindu, expressing your deep concern on the impact of adult graded cinemas on young minds. * Write a...
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...Medium Enterprises (SMEs). This essay will look at explaining the term credit crunch, as to what it means and how it has been applied to within the global economy. More so the essay will cover how the credit crunch of 2007 has developed over time, with the key aspect of the US housing market developing to then impact other countries, such as the UK economy. The essay will discuss the implications on UK small and medium enterprises. One of the key issues which will be discussed as to the implication of the credit crunch, is the availability of finance to SMEs. More so other non direct aspects which have which act as implications will too be discussed. The credit crunch has been defined as a shortage of money or loans as well as other types of credit given by banks. In short the BBC defined the credit crunch as “a severe shortage of money or credit” BBC: Timeline: Credit crunch to downturn (2009) It describes the economic condition of an economy. In most situations, when an economy has been in a credit crunch, the economic condition of a country is unstable or also known as a financial crisis. As the Guardian states, “the current global financial crisis is commonly known as the credit crunch.” Kollewe (2008) Credit crunch’s can occur mostly when an economy is in a recession, a time when the economy is declining during which the there is fall in gross domestic product (GDP). More importantly, the term credit crunch emphasises the state the economy is currently in. Recently the...
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...System’s role is to conduct monetary policy, supervise and regulate banking institutions, maintain the stability of the financial system, and provide financial services (Board of Governors of the Federal Reserve System, 2009). From the economic decline in 2007, the Federal Reserve Board has enacted economic policies getting the nation back on track. This essay will explore using the website, to define the purpose and function of money, explain how the central bank manages the nation’s monetary system, outline the stated direction of recent monetary policy, list one policy action in place to confirm that direction, and explain the effects of monetary policies on the economies’ production and employment The purpose and function of money is to provide a common scale for valuing goods and services and is an official currency issued by a government. Before the invention of money, parties bartered for goods, although disagreements over perishable items like milk, in exchange for lumber created unequal values. Unlike certain goods, money does not age, die, grow stale, or expire. Money also provides a means to perform a transaction if only one party member wants what the other is offering for sale. Money can be saved, or borrowed for large purchases such as homes, and cars, or to serve the needs and wants of a population. The Federal Reserve manages the nation’s monetary system by performing three tasks. The Federal Reserve has the capacity to change the percentage that banks (reserve...
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...politics. For instance, in the article “Alexander Hamilton,” regarding his work on the Constitution, it reveals “The differences between the two men would help shape the nation’s first political parties.” Hamilton’s challenges extended beyond ideological debates; he found himself in the midst of a complex battle for the ratification of the U.S. Constitution. This tumultuous period saw him, alongside James Madison and John Jay, penning the Federalist Papers to sway public opinion and secure support. Wartime shortages added another layer of difficulty, as Hamilton confronted challenges to keep the Continental Army supplied. Yet, perhaps his most personal challenge was navigating a world that doubted his immigrant roots and questioned his...
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...Q5) International Monetary Fund (IMF) role is to stabilize the international exchange rates and promote liberal economic policies. IMF will also provide short-term loan to assist members to overcome short-term imbalance of payment problems. On the other hand, World Bank offers loans to members to finance productive investments as well as assisting developing countries in its economy so as to reduce poverty within the country. Singapore joins both IMF and World Bank under the Bretton Woods Agreements Acts in 1966, 3 August. Before we join to become IMF as a member, during the Singapore-Malaya separation, we had sought for their technical assistance and to act as a broker in the negotiation with Malaysia for a common currency and banking system. In order to so, IMF first conducted a preliminary study to identify the concerns of Singapore and Malaysia regarding the common currency issue. IMF then acts as a broker in the final round of negotiations between 10 June 1966 and 5 July 1966. Before joining World Bank as a member, Singapore had sought for 2 loans where the first loan of US$15 million was used for the construction of the first phase of the Pasir Panjang ‘B’ Power Station and the second loan of US$6.8 million was used to construct Johor River Water Project. As a pre-requisite for the loan, the World Bank then requested our government to set up statutory authority (Public Utilities Board [PUB]) to manage the utilization and repayment of the loan. The advantages...
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...Ahmad Salam Central Banking in an Interest Free Banking System J.KAU: Islamic Economics, Vol. 5 (1993), pp. 25-35 Comments: RODNEY WILSON Professor of Economics Department of Economics University of Durham U.K. The article by Hamid Zangeneh and Ahmad Salam is a welcome departure in the Islamic finance literature, as relatively little has been written about the role of central banks in an Islamic financial system. The authors review the major functions of central banks, and then discuss how monetary tools need to be adapted in an Islamic economy, these including discount rates, open market operations, reserve ratios, refinancing ratios, credit controls, moral persuasion, profit sharing ratios and exchange rates. The authors cite an earlier paper by Mohammad Nejatullah Siddiqi who has probably given more consideration to the issues than anyone else. (1) One of Siddiqi's main concerns is the central bank's role as lender of the last resort, as it is ultimately responsible for safeguarding the interests of depositors, whether the system is conventional or Islamic, although arguably in an Islamic economy it is not so much a matter of consumer rights, but rather of moral responsibility to Muslim depositors who have entrusted their savings to an Islamic bank in good faith. Although the authors quote Mohammad Uzair when discussing the tools of central banking, (2) Sidjqi has looked at these matters more recently, at least in a summary form. (3) (1) Muhammad Nejatullah Siddiqi...
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...Finance Name Institution Course Date This essay breakdown gender heights of international finance that underlie the engagement of the female’s movement with monetary markets and monetary rules. These gender heights happen at all stages: the micro stage (as well as the intra-family stage); the meso stage (manufacturing, banking, state organizations, taxation); and the macro stage (countrywide including internationally). The micro, meso, and macro stages of money have turned to be further inter-associated with internationalization. For instance, credits to growing nations from the International Monetary Fund (IMF) and the World Bank increase to the home supply of finance, causing high government spending and venture and/ or lowered foreign exchange deficits. Bilateral growth co-operation and World Bank lending always promote home credit organizations and schedules in growing nations. Through this manner, the 8-10 million families that take credit from micro-credit schedules are not directly reliant on international sources of money. Remittances from migrant employees create a considerable basis of foreign exchange in nations such as Philippines and Bangladesh. Accepting this appreciating of international fund like a firmly woven mesh of macro, meso, and micro stipulations, this essay studies the way international fund affects, and is affected through the distinguished economic ranks of women and men (The World Bank Group, 2013). In this essay, four sex biases of international fund...
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...business system. (Pictorial techniques may be used which are appropriate to illustrate and justify the evaluation, e.g. Graphs, charts, economic curve diagrams, etc.) (700 – 1,000 words) Question 2 * Critical evaluation of measures used by governments and central banks to manage the economies of their countries. * By critically evaluating, using convincing arguments in support of the measures used to reduce, minimise or alleviate economic difficulties many countries face. (Examples should be used in the submission to illustrate the justified view) (1,100 – 1,500 words) 1. BUSINESS includes all doings linked with production, trade, banking, coverage, finance, energy, advertising, packaging etc. ENVIRONMENT refers to all external forces, which have comportment on the functioning of business. The environment includes factors outside the firm which can lead to opportunities for or threats to the firm. There is close relationship between business and its economic environment. Business obtains all its needed inputs from the economic environment and it absorbs the output of business units. ECONOMIC POLICY is the term used to describe administration actions that are intended to influence the economy of a city, state or nation. When there is a modification / variation in the government policies, the...
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...Analyzing a Bloomberg article, about two economists, and their view of the Greece debt crisis, I found out that they tried to compare the “Greece crisis” with Argentina’s default in 2001. They argued about two lessons concerning how and what could Greece possibly go through. According to the article “the first lesson has to do with the timing and size of the debt exchange”. As I figured out it is about building up the solvency for the debt in way to get access to capital markets. First of all in the article it says that “Greece and its private creditors have been invited to implement a bond exchange with a nominal discount, or haircut, of 50 percent of face value”. This voluntary agreement they also call the default. So in order to do the right thing, the Greece attempt to extend the debt relief beyond the 50% haircut agreed upon, should be assessed by someone. Also it is argued that the faster Greece starts contributing solutions instead of delaying their problem they will be able to begin normalizing the relationship with capital markets. The second lesson as said in the article “relates to the role of liquidity in a solvency crisis -- or who takes care of the casualties the day after default?” Regarding to this statement what I have understood, is that Greece needs a central bank that will provide the solution for the bank solvency or liquidity. This central bank is called the European Central Bank. Instead of using the example, mentioned in the article, from...
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...INTERNATIONAL ECONOMICS THEMES AND ISSUES MMN222154-13- AB THE IMPACT OF FOREIGN DIRECT INVESTMENT ON ECONOMIC GROWTH IN NIGERIA BY AZUMONYE M. CHUKWUEMEKE S1344407 INTRODUCTION Over the years, the debate on the role of foreign direct investment (FDI) as a factor that induces economic growth has received the attention of policy makers, researchers and international organizations (Tumala et al, 2011). There is no denying that most countries strive to attract foreign direct investment (FD1) because of its putative advantages as a tool of economic development. Therefore, this essay seeks to ascertain the extent at which growth in foreign direct investments (FDIs) influences economic growth in Nigeria in the long-run and investigated the empirical relationship between FDI and privatization. Nigeria, after independence began with an economy that was mostly driven by the public sector. According to Tumala et al (2007), Nigerian Enterprises Promotion Decree (NEPD) of 1972 imposed several restrictions on FDI entry, thereby earning the tag „the indigenization policy‟. It reserved 22 business activities exclusively for Nigerians, including advertising, gaming, electronics manufacturing, basic manufacturing, road transport, bus and taxi services, the media and retailing and personal services. Foreign investment was permitted up to 60 per cent ownership and provided that the proposed enterprise had, based on 1972 data, share capital of N200, 000 ($300,000) or turnover...
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...banking systems in the western economies. In this essay, after a brief illustration of the development of banking system in China, the recent event of money shortage in it will be discussed. Development of banking system in China “Piaohao” is the earliest Chinese form of bank which appeared in the Qing dynasty (over 200 years ago). It is a firm for exchanging and transferring money, and it also provided deposit and loan services. However, the first modern bank is established by the English in Shanghai in 1845 (Wang, 2008). After the People's Republic was founded in 1949, the modern banking system of china was built and developed gradually. Recently there are 3 major types of bank in the system. First, the central bank, which is The People’s bank of China, operates similar functions as that of western countries. And it is the only bank that can issue Chinese currency (RMB) and unify the national currency (PBC, 2013). The second type of bank is policy banks, which are established by the Chinese government and they are non-profit oriented. The major role of these banks is to provide long-term financing support for economic and trade development and state-invested projects (Wong, 2001). The last type is commercial banks, including state-owned banks, local bank, private bank, foreign bank and other types of small and medium banks (Wong, 2001). In particular, the “big four” state-owned banks of China were ranked as 4 banks of top 5 profitable Banks in the world in 2012 (HITC Business...
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...A Study On Role of Small and Medium Enterprises in U.A.E Submitted By: Vishal Bobal MBA (2015-2017) AUD4325 TABLE OF CONTENT 1. INTRODUCTION 2.1 DEFINATITION 2.2 SMEs IN DUBAI 2. SERVICES PROVIDED BY UAE GOVERNMENT TO SMEs 3. GOVERNMENT INITIATIVES TO PROMOTE SMEs 4. IMPORTANCE OF SMALL AND MEDIUM ENTERPRISES 5. SMEs ROLE IN THE ECONOMY 6. PROBLEMS TO SMEs 7. BARRIERS TO SMEs 8. CONCLUSION 9. REFERENSING INTRODUCTION 1.1 DEFINATION The small and medium sized enterprises (SMEs) have got very few resources, opportunities or turnover which is upto a certain extent. The definations of SMEs are flexible. This is variable from person to person. There are many people who use the word SME for those firms who have less than 500 employees, whereas some use this word for those businesses that have more than 500 workforces. However, some use the word “Big Businesses” for the organizations that have more than 500 employees. If we look at the middle east, it can be easy to see that there are numerous differences in which a regional can be taken into an account. It is also widely understood that the SMEs are the very important...
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