MA0036- FINANCIAL SYSTEM AND COMMERCIAL BANKING

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ASSIGNMENT

 

 

 

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

 

Q.1 Visit website of any life insurance company and list the products for different age groups .

 

Ans :  Life insurance corporation of India (Products offered for diferent age groups )

 

As individuals it is inherent to differ. Each individual’s insurance needs and requirements are different from that of the others. LIC’s Insurance Plans are policies that talk to you individually and give you the most suitable options that can fit your requirement. All Life Insurance Products of LIC of India e.g., Endowment Plans, Money Back Plans, Children Policies, Policy for Handicapped, Whole Life Policies, Unit Linked Policies, Term Assurance, Pension/Retired Plans and Health Plans All Life Insurance Products of LIC of India e.g., Endowment Plans, Money Back Plans, Children Policies, Policy for Handicapped, Whole Life Policies, Unit Linked Policies

 

 

 

Q.2 Discuss whether issuing letter of credit, issuing guarantee are financial services. If so, in which category, will it come under? Differentiate between financial services offered by banks as well as other financial institutions.

 

Ans : Financial services :

 

Yes , both of these come under financial services. It comes under Intermediation or advisory Financial services are the economic services provided by the finance industry, which encompasses a broad range of organizations that manage money, including credit unions, banks, credit card companies, insurance companies, accountancy companies, consumer finance companies, stock brokerages, investment funds and some government sponsored enterprises.

 

Categories of financial services:

 

1. Bank cards  :

 

 

 

Q.3 Discuss the role played by Bharti AXA Investment Managers Private Limited with reference to intermediary services.

 

Ans : Intermediation :

 

An intermediary (or go-between) is a fourth party that offers intermediation services between two trading parties. The intermediary acts as a conduit for goods or services offered by a supplier to a consumer. Typically the intermediary offers some added value to the transaction that may not be possible by direct trading.

Common usage includes the insurance and financial services industry where e.g. mortgage brokers, insurance broker, and financial advisers offer

 

 

 

Q. 4 Discuss the latest Monetary Policy statements released by the RBI for the year 2013 and list the salient features.

 

Ans : Monetary Policy Statements :

 

1. The Annual Policy for 2013-14 is formulated in an environment of incipient signs of stabilisation in the global economy and prospects of a turnaround, albeit modest, in the domestic economy.

 

2. In the advanced economies (AEs), near-term risks have receded, aided by improving financial conditions and supportive macroeconomic policies. But this improvement is yet to fully transmit to economic activity which remains sluggish. Policy implementation risks and uncertainty about outcomes continue to threaten the prospects of a sustained recovery. Emerging and developing economies (EDEs) are in the process of a multi-speed recovery. However, weak external demand and domestic bottlenecks continue to restrain investment in some of

 

 

Q.5 Discuss the CTS-2010 Standards and its effect on the customers.

Ans : CTS-2010 Standards :

 

Cheque Truncation System (CTS) or Image-based Clearing System (ICS), in India, is a project undertaken by the Reserve Bank of India – RBI, for faster clearing of cheques. CTS is basically an online image-based cheque clearing system where cheque images and Magnetic Ink Character Recognition (MICR) data are captured at the collecting bank branch and transmitted electronically.

Truncation means, stopping the flow of the physical cheques issued by a drawer to the drawee branch. The physical instrument is truncated at some point en route to the drawee branch and an electronic image of the cheque is sent to the drawee branch

 

 

 

Q.6 Corporate Governance in banks is different from corporate governance in corporate world. Elaborate this statement.

 

Ans : Corporate governance :

 

Corporate governance refers to the system by which corporations are directed and controlled. The governance structure specifies the distribution of rights and responsibilities among different participants in the corporation (such as the board of directors, managers, shareholders, creditors, auditors, regulators, and other stakeholders) and specifies the rules and procedures for making decisions in corporate affairs. Governance provides the structure through which corporations set and pursue their objectives, while reflecting the context of the social, regulatory and market environment. Governance is a mechanism for monitoring the actions, policies and decisions of corporations. Governance involves the alignment of interests

 

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