Introduction We all know that Bank is nothing but a financial institution. And it’s a very much well known word to all of us. Bank actually serves as a financial intermediary. The term "Bank" may refer to one of several related types of entities like: Central bank, State- owned Commercial bank, Private Commercial bank or Merchant bank, Foreign Commercial bank, Specialized Development bank, etc. But when we use the term bank it generally means ‘commercial bank’ that collects the deposit from surplus
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health of the company, Mr. Clarkson is seeking to increase the company’s borrowing. Clarkson Lumber Company is experiencing a shortage of cash as a result of an increase in accounts and notes payable over the last two years. In 1994, Mr. Clarkson bought out his partner, Henry Holtz, for a $200,000 note. The note was to be paid off in 1995 and 1996 and it carried an interest of 11% that consisted of semi-annual payments of $50,000 beginning June 30, 1995. Additionally, Mr. Clarkson was unable to
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FUNCTIONS OF THE GOLDSMITH BANKERS The first recorded history of banks was during ancient Roman and Greek Empires, where the temple priests would store gold and silver for safekeeping. Coins were brought to the temples not only as offerings but also for the payment of taxes. Since the temple was a place of worship and was always guarded, it was also considered a safe and secure place for storing items of value. The temples also lent money to the locals for trading purposes and exchanged foreign
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Loan Syndication Syndication means joint financing by more than one bank to the same clients against a common security. This is done basically to spread the risk. It also provides a scope for an independent evaluation of risk and focused monitoring by the agent / lead bank. In Syndication financing banks also enter into an agreement that one of the lenders may act as Lead Bank. In such case, lead bank has to co-ordinate the activities at various stages of handling the proposal i.e. appraisal
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Annual Report 2014 Our Mission ACI's Mission is to enrich the quality of life of the people through responsible application of knowledge, technology and skills. ACI is committed to the pursuit of excellence through world-class products, innovative processes and empowered employees, to provide the highest level of satisfaction to our customers. Our Vision To realise the Mission, ACI will : Provide products and services of high and consistent quality, ensuring value for money to our
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BASIC FINANCIAL LITERACY Guiding Principles for You 2010 Microfinance Opportunities 2010.Used by Permission : For inquiries regarding rights and permission, please contact: Microfinance Opportunities 1701 K Street NW , Suit 650 Washington, DC 2006 USA TEL:202 -721-0050 FAX: 202 -721-0010 Email: financialed!@mfopps.org www.microfinanceopportunities.org Equity Group Foundation P.O BOX 75104 00200 Nairobi, Kenya Tel: 254 20 274 4000 FAX: 254 20 273 7276 Email: info@equitybank.co.ke
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Rate (BR): 10.25% w.e.f: 25 February 2013 | Notice to the Borrower: Base Rate linked pricing system of loans and advances has been started since 01.07.2010. Base Rate is the minimum rate below which Banks are not permitted to lend barring certain exceptions. In respect of existing loans, borrowers have an option to either continue with the existing system of BPLR till the maturity of their loans or switch over to the new system of Base Rate. No fee will be charged from the borrower for such switch
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RBI – The Reserve Bank of India is the apex bank of the country, which was constituted under the RBI Act, 1934 to regulate the other banks, issue of bank notes and maintenance of reserves with a view to securing the monetary stability in India. Demand Deposit – A Demand deposit is the one which can be withdrawn at any time, without any notice or penalty; e.g. money deposited in a checking account or savings account in a bank. Time Deposit – Time deposit is a money deposit at a banking institution
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The Early Years The Philippine National Bank was established as a government-owned banking institution on July 22, 1916 with headquarters in the old Masonic Temple along Escolta, Manila. Its primary mandate was to provide financial services to Philippine industry and agriculture and support the government's economic development effort. World War I, then raging in Europe, generated huge demand for the country's major exports namely: sugar, copra, coconut oil, Manila hemp and tobacco. However, not
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INTERNATIONAL FINANCIAL MARKETS Topic 1 THE STRUCTURE OF THE INTERNATIONAL FINANCIAL SYSTEM Agenda Recent developments in international financial markets The components of the international financial market The eurocurrency market The international equity market The international debt market The foreign exchange (currency) market Globalisation of financial markets The global economy has undergone through a number of structural changes in the past few decades:
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