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Following are the main forms of money. B- Special Relationship. · Public debt Management: Central bank manages public debts and handles financial business connected with it.
Exporter or Seller or Beneficiary: He is the person in whose favour; the latter of credit is opened. Cost push inflation. Determination of rate of exchange by demand and supply theory. Issuance of Letter of Credit (L. C). Rate Us 5Planning to buy something from Amazon? Money banking finance book for bcom part 1 Archives. Causes of demand pull inflation. The terms and conditions of the sales are also stated in it. Change of place of residence: If the customer changes his place of residence he may close his account. COOPERATIVE BANKS: These banks provide services for the small scale business and provide short and medium term loans. The credit policy is prepared by the state bank for commercial bank and issues instruction from time to time. Demonetization: The demerit of paper money is that the holder may have to suffer loss.
Banking business: The government has set up an executive board to look after the administrative work. 4. budgetary inflation. The gold and silver coins of old times are examples of full bodied coins. Devaluation: Devaluation of currency decreases the purchasing power of the local currency. Economic measurements: Under barter system it was not possible to measure economic variables both at macro & micro level. Distribution of national income: With the help of money it is impossible to determine and distribute national income among various classes of society. The business dealing is carried on throughout the business life. Control over expenses: The expenses of nationalized banks have been controlled to a large extent. Sight L. Bcom part 1 banking and finance notes class 9. C: On shipment of goods to the buyer, the sellers receive the bill of lading then complete the documents; seller gives these documents to the advising bank the advising banks see that whether these documents are in order. Low level of employment: During this stage employment level also decrease due to fall in investment and production. Decreasing prices: During this stage the general price level starts to decline as a result the profit of businessmen also decreases.
It is also known as "Time liabilities of bank". How rate of exchange is determined. Non-aggressive management: A firm not using debt showing non-aggressive management. Less finance less business. GENERAL RELATIONSHIP: Debtors & Creditors: 1 When customer deposits his money with the bank: The bank becomes the debtor of the customer and customer becomes the creditors of the bank. Bcom part 1 banking and finance notes sample. People and organization working abroad send remittances to their native country and increases the supply of foreign exchange in the country which increases the value of home currency. Such blocked money can be reissued after the certain time period. Foreign exchange is a mechanism by which international indebtedness is settled between two countries. Forms of Money · The balance in savings and deposits in current account, held by the public in commercial banks is also considered money. 4. galloping inflation. Immigration of skilled persons. FUNCTIONAL CLASSIFICATION.
In what ways a banker can refuse to make the payment of Cheque. As a result supply of money increases that causes inflation in the economy. Metallic money: The money made of any metal such as gold, silver etc is called metallic money. MONEY ,BANKING & FINANCE NOTES B.COM PUNJAB UNIVERSITY. A high degree of specialization cannot be achieved under barter system because every one tries to attain self sufficiency. Briefly discuss the operation of L. C? They were not professionals. According to Hansen: "Business cycle is a fluctuation in employment out put and prices".
Both the costly and cheaper thing can be purchased from such money. When foreign tourists come to a country they increase the supply of foreign exchange that improves the value of home currency. Bcom part 1 banking and finance notes grade. Banks can increase the capital formation by stimulating saving and incomes. It is an up hill task to trace the origin of word "bank". In the absence of banking system, many businessmen cannot get the services of specialist and may bear loss.
ON THE BASIS OF OWNERSHIP. Successful businessmen work in cooperation with the bank. Plastic money: Plastic money means the credit cards, smart cards. The banker after discounting, pays the value of the bill to the holder. Also explain its advantages and disadvantages?
Is financial aid available? Improvement in investment: In this phase economy starts improving and investors start to invest in the economy which increases overall investment level. In our country the Central bank is State Bank of. Of country as a whole and without regard to profit as a primary consideration".
The banks normally do not pay interest (profit) on this account. So non legal tender money is money which a person may or may not accept as a mean of payment. Further we can save our wealth in form of foreign exchange, gold, silver etc which can easily be converted into cash when required. This theory ignores the long period of time and just discusses the short period.
According to Coulborn: "Inflation means too much money chasing too few goods". Control & growth of Banking. Influence of price level: If the price level in Pakistan decreased then exports will increase because our goods become cheaper in international market and the value of home currency increases and vice versa. Suppressed inflation. HOW THE USE OF MONEY HAS REDUCED THE PROBLEM OF BARTER SYSTEM. Inflation and deflation both are not suitable for the economy. If there is a healthy business of shares & debentures is going on this will have good effect on exchange rate and value rupee improves. There is no inconvenience of testing the exactness of the money material. Metals are more durable as compared to any other material that is used as money. An increase in wages of individuals increases the income and on the other hand it causes an increase in the cost of production. Produced and sponsored by the Institute for New Economic Thinking, this course is an attempt to begin the process of new economic thinking by reviving and updating some forgotten traditions in monetary thought that have become newly relevant. As a result government become authorized to transfer the management of commercial banks to private sector.
Cheap medium of exchange: By issuing cheques and drafts bank provides cheap medium of exchange. MONEY, BANKING & FINANCE NOTES PUNJAB UNIVERSITY. This work cannot be done without finance. The important legal grounds for stopping payment in the account are as follows; 1. Obtaining the Documents of Shipment: The exporter makes the arrangement for the shipment of the goods to the importer after the goods he got the receipt from the shipping company. Everything you want to read. Increase or decrease the volume of money: The commercial banks play a very important role in the implementation of monetary policy. Remedies/control of inflation.
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