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  International Organisation   International Monetary Fund (IFM)   ·                     IMF was established on December 27, 1945 in Washington on the recommendations of Bretton Woods Conference, but it started operations on March 1, 1947. ·                     At present, 185 nations are members of the IMF. ·                     IMF headquarter is in Washington.   Objectives of IMF (i)         To ensure balanced international trade. (ii)         To eliminate exchange restrictions by promoting the system of multilateral payments. (iii)        To minimize imbalances in quantum and duration of international trade. (iv)        To ensure exchange rate stability. (v)        To promote international monetary operation.   ·                     India has 11th position in IMF.   International Bank for Reconstruction and Development- (IBRD)   ·                     IBRD and its associate institutions as a group are known as the World Bank. ·                     IBRD was established in December 1945 with the IMF on the basis of the recommendation of the Bretton Woods Conference. That is the reason why IMF and IBRD are called "Bretton Woods Twins". IBRD started functioning in June 1946. ·                     World Bank and IMF are complementary institutions.   Objective of World Bank (i)         To induce long-run capital investment for assuring BOP equilibrium and balanced development of international trade. (ii) more...

  Money and Inflation     Money: ·                     In ordinary usage, what we use to pay for things is referred to as money. But the definition of money is still an unresolved fescue of monetary economics. Though money is a concept which still lacks absolute clarity in scientific terms.   ·                     There are two Approaches to defining money ? (a) Traditional approach (b) Empiricists approach. ·                     In traditional approach, money is regarded as any object which is generally acceptable as a means of payment in transacting an exchange of goods or services. Traditional approach is based on two criteria one is its general acceptability and its functional aspects. ·                     In empiricists approach. Money is a complex phenomenon. It does not define itself to currencies and demand deposits of banks, but also includes a host of financial asset such as bonds, government securities, time deposit with banks and equity shares, which serve as a store of value.   Static functions of Money:   1.         As a medium of exchange 2.         As a measure of value of unit of account 3.         As a standard of deferred payment 4.         As a store of value   Dynamic role of Money:   1. It plays a very active and high important part in the economic system by influencing the general level of process. Its volume and function of money whether the motivation comes from the state itself or from the general public, can lead to a rise or fall in the general price level.   2. Money directs more...

  Capital Market and Institution     Financial Market   Financial market is a mechanism that allows people to easily buy and sell financial securities, commodities and other fungible items of value at low transaction costs at a predetermined or market determined price. Financial market can be divided into different types of market:   (a) Money market: which provides short term debt financing and investment.   (b) Capital Market: which facilitates comprises of stock markets and bond markets.   (c)  Commodity Market: Which facilitates the trading of commodities.   (d) Foreign Market Exchange: Which facilitates the trading of foreign exchange.   (e) Future Markets:  Which provide standardized forward contracts for trading products at some future date.   (f) Insurance Market: Which facilitate the redistribution of various risks.   Capital market   Capital market is the market that helps the companies in raising long term investment credit. It is the market for long term funds. It refers to all the facilities and institutional arrangement for borrowing and lending term funds. It does not deal in capital goods but ifs concerned with raising of money capital for purpose of investment.               ·                     Thus the capital market embraces the system through which the public more...

Economics   Economics is a subject matter that studies different economic activities as a directed towards the maximisation of satisfaction or maximisation of profit at the level of an individual and maximisation of social welfare at the level of the country as a whole. Classification of Economics into branches was done by Ragnar Frisch.     Microeconomic When economic problems or economic issues are studied considering small economic units like an individual consumer or an individual producer is called Microeconomics      
  • Microeconomics is basically concerned ring with determination of output and price for an individual firm or industry.
  Macroeconomics       Macroeconomics is concerned with the economy as a whole or large segments of it. It is that branch of economics which studies economic activities at the level of an economy as a whole. It deals the following—
  • Theory of National Income
  • Theory of Money
  • Theory of employment
  • Theory of General Price level
  • Theory of economic growth
  • Theory of international trade
 
  • Microeconomics is basically concerned with determination of aggregate output and general price level in the economy as a whole.
  Market economics Market economics are those economies in which economic activities are left to the free play of the market forces. Producers are free to produce those goods and services which are high in demand, so that they are able to maximize their profits. While consumers are free to buy goods and services in accordance with their choice and preference, so that they are able to maximize their satisfaction.  
  • In this economy, there is no interference by the government regarding what and how much to produce and what or how much to consume.
  • In market economy, self-interest is the prime consideration behind allocation of resources to the production of different goods and services.
  Centrally planned economics Those economies in which the course of economic activities is decided by some central authority or by the government. For example— A central authority decides how much of wheat and how much of rice are to be produced. Only government decides the overall basket of goods and services that the people can consume.
  • In this economy, social welfare or collective welfare is the prime consideration behind allocation of resources to the production of different goods and services.
  Mixed economics Mixed economies are those economic activities, which generally left to the free play of the market forces, but simultaneously the government exercises its control with a view to regulating the overall course of production, consumption and investment.
  • Its exhibit the characteristics of both market economies and centrally planned economies. The government intervenes to ensure social justice Along with a higher level of growth.
  Utility The term "utility" refers to that quality of a commodity by virtue of which our wants are satisfied. In other words, wants satisfying power of a good is called more...

  Banking     Bank   The word "Bank" is derived from the Greek word banque or the Halian word banco both meaning a bench-referring to a bench at which money lenders and money changers used to display their coins and transact business in the market place.   ·                     A Banking company in India has been defined in the Banking Companies act 1949 as one "which transact the business of banking which means the accepting for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise and withdrawal by cheque, draft, order or otherwise   ·                     Acceptance of chequable demand deposits and lending them to others are the two distinctive features of a banking institution. On this account, Post office saving banks are not regarded as banks in the true sense of the term, since they do not lend money, even though some of them have introduced the cheque system.   ·                     There are other financial institutions like the unit Trust of India (UTI) the life insurance corporation (LIC), the industrial finance corporation of India (IFCI), the industrial Development Bank of India (IDBI) etc. which Lend money to others but do not accept chequable demand deposits. Therefore they are not regarded as banks. They are called non-Banking financial Institutions.   Type of Bank:   Banks in the organized sector may be classified into the following major forms ? 1. Commercial banks 2. Co-operative banks 3. Specialized bank 4. Central banks   1. Commercially banks: Commercial banks are joint stock companies dealing in money and credit. A commercial bank is as a financial institution that accepts chequable deposits of money from the public and also uses more...

Economics and Glossary & Acronyms   Capital Budget: Capital budget consists of investment in shares and loans and advances granted by the Central government to State governments government companies, corporations and other parties. It includes capital receipts and capital payments.   Budget Deficit: Budget deficit occurs when the spending of a government exceeds that of its financial savings. It can be happen when the government does not plan its expenses, after taking into account its entire savings.   Fiscal Deficit: Fiscal deficit is the gap between the sum of its revenue receipt a non-debt capital receipts and Government's total expenditure,   Dumping: Dumping is an informal name for the practice of selling a product a foreign country for less than the price in the domestic country or the cost of" making the product.   Call Money: Call money is a short term money market instrument which allows for large financial institutions such as franks, mutual financial corporations to borrow and lend money at interbank rates.   Micro Finance: Microfinance is instrument for women economic empowerment in rural areas. It provides credit facilities to rural poor, particularly to wear with any corresponding guarantee for operating productive activities.   Initial Public Offer (IPO): When a company issues an initial share in primary market, it is called IPO.   Follow on Public Offer (FPO): When. A company issues a share more than one time in initial market, it is called FPO.   Hot Money:  Hot money refers to funds which flow in a country to take advantage of favorable interest rates. Hot money is highly volatile and is shifted to another market as interest rate change.   Flat Money: Fiat money is a type of money which is issued without being backed by any tangible assets such as gold, silver etc. Value of fiat money depends totally on confidence and expectation of the economy.   Permanent Account Number; PAN is a unique number issued by the income tax department to their taxpayers. A taxpayer has to mention this PAN in the tax return filed every year.   Multinational Company (MNC); An MNC is a large scale company which has its production base in several countries and the bulk of the production is produce in outside nations.   Subsidy: Subsidy is a payment by the government to producers or distributors in an industry to prevent the decline of that industry or an increase in the prices of its products or simply to encourage it to hire more labor.   Acquisition: The acquiring of control of one corporation by another. In "unfriendly" takeover attempts, the potential buying company may offer a price well above current market values, new securities and other inducements to stockholders. The management of the subject company might ask for a better price or try to join up with a third company.   Active Market: This is a term used by stock exchange which specifies the more...

  Computer: General Introduction       Introduction     A computer is a manmade electronic machine which stores, reads and processes data to produce meaningful information as output. It works very fast and does not make mistakes but its capacity is limited. It is made of English word 'compute?. It operates under the control of a set of instructions that is stored in its memory unit. A computer accepts data from an input device and processes it into useful information which it displays on its output device. Actually, a computer is a collection of hardware and software components that helps us to accomplish many different tasks. Hardware consists of the computer itself and includes a CPU, a monitor, a keyboard, a mouse and any equipment connected to it. Software is the set of instructions that the computer follows in performing a task.'       Calculators and Calculation   A calculator is a small electronic device used for doing mathematical calculations. A calculator cannot be used for writing letters or  awing images, while a computer can be used to calculate, draw images 'write letters, and do many other things as well.       Human Being and Computers   Computers cannot work on their own. They do what we want them to do, only we give them the right command. Its memory is better than human memory. It can't forget anything, it has saved, so it is also called an artificial intelligence       Comparison between human beings and computers  
Human being computer
Human being are slow in doing calculation Computers to can do complex  calculations in second 
Human beings cannot remember lots of thing at one time. Computer can store and remember a large amount Of information at on time.
Human being can make mistakes. more...
  Development of Computer       Introduction   Computer is a man ?mad electronic machine that change the way we work live and play .A machine that has done all this and more ,now exits in invention is the computer the computer is a one of the most powerful innovation in human history .the electronic computer has been around for over a half century butt its ancestor abacus   has been around for 2000 years however only in the last 40 year it has changed the of lifestyle from the first wooden abacus to the latest high speed microprocessor  the computer has changed the nearly  every aspect of people lives for the better .with the use of computer people are suddenly able to perfumed a large amount of computation at dazzling speed information can be crunched ,organized and display in the blink of an eye .thing that were only dreams a few years ago are now possible due to computer.       Evolution of computers   1. Abacus: The abacus one of the earliest known computation device. It is a tool that help in calculating answer of arithmetic problems. It is simple a wooden rack holding parallel wires on which beads are strung calculation are done by manipulating the beads the abacus was enveloped China about 5000 years ago so successful that its use spread from china to many other countries       2. Pascal Calculator:  the first real mechanical calculating was invented by French scientist and mathematical Blaise Pascal, around 1645. the device was constructed by interlocking gears representing the number 0 to 9  it was only able to do addition and subtraction so it is called adding machine       3. Analytical Engine: In 1801, Joseph Marie Jacquard perfected the loom. Using holes punched into a series of connected cards, Jacquard was able to control the weaving  of fabrics the lacquered loom not only cut back on the around of human labor, but also Allowed for patterns to be stored now on cards and to be utilized over and we again to achieve the same product. In 1820Babbage failed to build a fully operational model of Difference or Analytical Engine. In 1842Lady Lovelace wrote Demonstration program and her contribution to binary arithmetic was later used by John Von Neumann in developing the modern computer. So she is often regarded as the "first computer programmer       4. Herman Hollerith and Punch Card: In 1890 the united more...

  Input and Output Device       Introduction   There are a lot of devices that are attached to the computer. Some of them are input devices while others are output devices. These devices are collectively referred to as peripheral devices Input Devices: Information or data that is entered into a computer is called input. It can come from an external source and be fed into computer software. It is done by an input device. In other words, devices that are used to give instruction to the computer are known as input devices. They send information into the CPU. Without any input device that computer would simply be a display device like a TV. Some most commonly used input devices are given below  
1. Keyboard
2. Mouse
3. Trackball
4. Joystick
5. Scanner
6. Microphone
7. Web Cam
8. Bar Code Reader
9. OCR (Optical Character Recognition)
10. OMICR (Magnetic Ink Character Reader)
11. OMR (Optical Mark Reader)
12. Kimball tag Reader
13. Speech Recognition System
14. Light Pen
15. Touch Screen
      1. more...

  Memory   Computer memory refers to the devices that are used to store data or programs on a temporary or permanent basis for use in a computer. Any data or instruction entered into the memory of a computer is considered as storage. It is one of the fundamental components of all modern computers coupled with a central processing unit. For central processing unit to process the input data, there must be a place for storing the data and instruction this is provided in the memory unit.       Data Representation   The memory unit of the CPU consists of a large number of cells called location. Each location is identified with a unique label called an address which is used to store data or instruction. The CPU keeps track of all data and program instructions through the use of memory address. Computer represents information in binary code, written as sequences of so and Is. '1' represents an on state and '0' represents an off state in a circuit. To store the data in location is called 'Write' and fetch the data in location is called 'Read' Each location can contain fixed number of bits called word length. Word length can be 8, 16, 32 or 64 bits. Bit is smallest unit of binary digit. A word i an arrangement of binary digits. abet is the unit of memory which is a group of 8 bits in EBCDIC ( Extended Binary Coded Decimal Interchange Code) and 7 bits in ASCII (American Standard Code for Information Interchange).       Types of Memory     Memory usually refers to a form of semi-conductor storage known a Random-Access Memory (RAM) and sometimes other forms of fast but temporary storage. It is a place in the computer system where data and are tenderly storage it is a place in the computer system where data and program Are temporarily stored in internal storage area in the computer the terms memory identify data storage that comes in the forms of chips Similarly, storage today more commonly refers to mass storage such as optical disks, forms of magnetic storage such as hard disk drives, and other types slower than RAM, but of a more permanent nature. The primary device that a computer uses to store information is hard drive. Memory and storage were respectively called main memory and secondary storage. The terms internal memory and external memory are also used. Storage an memory differ with respect to price reliability and speed       Primary or Main Memory or Semiconductor Memory or Internal Memory   Computer memory usually refers to the semiconductor technology that is used to store information in electronic devices. Current primary computer memory makes use of 1C consisting of silicon-based transistors       There are two main types of memory   Volatile and Non-volatile. Volatile memory is computer memory more...


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