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Monetary standards
...The way the currency of a country is issued, managed and regulated called the monetary system of the country. Monetary standards may be of different kinds. 1. Monometallism:If one metal is the ultimate measure of value in the country standard will be metallic. If one metal is the standard that monometallism. If that metal is gold it will be called gold standard similarly if that is silver it will .... 
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Types of cheques
...Types of chequesThe cheques are of two types. (i) Open cheques and (ii) crossed cheques.(i) Open Cheques. Open cheques are those cheques which are paid across the counter of the bank. Open cheques may be bearer or order cheques.(a) Bearer cheques. If a drawer orders the bank to pay a stated sum of money to the bearer it is called a bearer cheque. Any person who lawfully possesses a beaker cheque i.... Read
Quantity theory of money by irving fisher
...TRANSACT APPROACHIrving Fisher an American economist, put forward the Cash Transaction Approach to the quantity theory of money. He in his book The Purchasing Power of Money (1911) has stated that the value of money in a given period of time depends upon the quant t money in circulation in the economy It is the quantity of money which determines t general price level and the value of money Any cha.... Read
Kinds of inflation
...KINDS OF INFLATIONInflation is of different types. It is generally classified on the following basis:(1) On the Basis of Rate of inflationInflation on this basis is grouped as (i) Creeping inflation (ii) Walking inflation (iii) Running inflation and (iv) Hyper inflation.(i) Creeping inflation. is a situation in which the rise in general price level is at a very slow rate over a period of time. Und.... Read
Sources of bank funds
...SOURCES OF BANK FUNDSA bank is a business firm. Its main aim is to earn profit. In order to achieve this objective it provides services to the customers. It offers a variety of interest bearing obligations to the public. These obligations are the sources of funds for the bank and are shown on the liability side of the balance sheet of a commercial bank. The main sources which supply funds to a ban.... Read
Importance of money market
...IMPORTANCE OF MONEY MARKETIf the money market is well developed and broad based in a country, it greatly helps in the economic development of a country. The central bank can use its monetary policy effectively and can bring desired changes in the economy for the industrial and commercial progress in the country. The importance of money market is given, in brief, as under:(i) Financing Industry: A .... Read
Remedies of inflation
...REMEDIES OF INFLATIONThe first panacea for a mismanagement nation is inflation of the currency. The second is war. Both bring a permanent ruin. They both are the refuge of political and economic opportunists. (Ernest Hemigway). To avoid political unrest and harmful, social and economic effects on the economy, it is the main objective of every government to take appropriate measures to control infl.... Read
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Cash balance approach to the quantity
...THEORY OF MONEYThe cash balance approach to the quantity theory of money was developed by a group of Cambridge economists in England which included Alfred, Marshall, AC. Pigou, Robertson and J. M. Keynes’ The approach of Cambridge economists to the quantity theory of n differs significantly from the Fisher’s approach. Fisher’s approach was based on the medium of exchange function of money. T.... Read
Govt plans low rates home loans for paramilitary personnel
...In an attempt to make home ownership easier for paramilitary personnel, the Central government is planning to launch a scheme under which home loans are made available to them at concessional rates. “The scheme will allow a soldier from a paramilitary force to avail cheaper home loans at least two years prior to his retirement,” a senior home ministry officer told Hindustan Times.
The offici.... Read
Inflation in pakistan
...One of the most important factors influencing poverty in the country is inflation. Inflation is defined as a situation where the general price level is persistently moving upward in a country. In Pakistan, the general price level is persistently rising since Partition of the Subcontinent. Prices remained volatile during the decade of 1990’s ranging from 5.7% to 13% mainly because of declining ec.... Read
Lending institutions
...In addition to bank there are other lending institutions also that advance loans and other financial services. These lending institutions are given as under:1. Savings and Loans Associations2. Credit Unions3. Life Insurance Companies4. Commercial Finance Companies5. Factor Companies6. Sales-Finance Companies7. Consumer Finance CompaniesSavings And Loans AssociationsThese lending institutions recei.... Read
Functions of state bank of pakistan
...The functions of State Bank of Pakistan are governed by the State Bank of Pakistan Act, 1956. In order to discharge its duties efficiently and successfully some of the functions which involved public dealing have been transferred to State Bank of Pakistan Banking Services Corporation from Jan., 2, 2002. The State Bank of Pakistan will continue performing its four basic functions (i) Framing and op.... Read
Methods of exchange control
...Meaning of exchange control.Broadly speaking, exchange control refers to a government’s inter in the foreign exchange market. In other words, it means legal restrictions on the business involving foreign exchange and its sale and purchase in the national market. It is government domination in the foreign exchange market. In the words of Haberler, “Exchange control is the state regulation exclu.... Read
Methods of note issue
...Methods of Note IssueBoth the principles of, note issue mentioned above, have serious defects. The monetary experts’ by coordinating the advantages of both the principles have evolved various systems or methods of notes issue. The main systems of note issue prevalent in different countries of the world are (1) Partial Fiduciary System. (2) Proportional Reserve System. (3) Minimum Reserve System..... Read
Mint par parity theory of exchange rate
...MINT PAR PARITY THEORY OF EXCHANGE RATEORDETERMINATION OF RATE OF EXCHANGE UNDER GOLD STANDARDWhat is mint parity theory?Mint parity theory explains the determination of exchange rate between the two countries which are on gold standard. In a country which is on gold standard, the currency is either made of gold or is convertible into gold at a fixed rate. There are also no restrictions on the exp.... Read
Air force special services launched by sbi
...India's largest lender, State Bank of India , has launched a special concessional banking scheme for Air Force personnel.
Under the scheme -Defence Salary Package-- Air Force personnel will get facilities such as free draft and free fund transfer from 16,000 branches of the SBI and its associate banks.
"I recommit that SBI would serve the very best we can," SBI chairman OP Bhatt said at the laun.... Read
Balance of payments theory of exchange rate
...BALANCE OF PAYMENTS THEORY OF EXCHANGE RATE ORMODERN THEORY OF EXCHANGE RATEThe balance of payments theory of exchange rate is also named as ‘General equilibrium theory of exchange rate. According to this theory, the exchange rate of the currency of a country depends upon the demand for and supply of foreign exchange. If the demand foreign exchange is higher than its supply, the price of foreign.... Read
Importance of websites to businesses
...In this age of the World Wide Web, Internet is the best tool to establish and support our businesses. Internet has reduced the boundaries between countries and hence doing business and promoting it across the world has become easy. Websites these days act as a primary tool in promoting the business. You have to design an appealing website to catch the attention of the viewers looking for informati.... Read
Devaluation of money
...Meaning of DevaluationBy devaluation is meant the reducing of value or exchange rate of national currency v b respect to other foreign currencies Devaluation is made when a country is operating under a fixed exchange rate system. Under the Breton Woods System adopted in 1946, the countries were allowed to make devaluation of their currencies with the permission of IMF. The Breton Wood System is no.... Read
