(a) Banking Department: The bank has seven offices of Banking Department
(i) Public Accounts Department
(ii) the Public Debit Office
(iii) Deposit Accounts Department
(iv) Securities Department.
(b) Issue Department:
(i) General Department,
(ii) Cash Department.
(c) Central Policy Department:
(i) Credit Planning Cell
(ii) Personal PolicyDepartment.
(iii) Administration Department.

(i) First of all, a company hands over the shares to a Domestic Custodian Bank (DCB).
(ii) Then DCB requests the American Depository Bank (ADB) to issue the shares in the form of ADRs.

The Surface or Land transport consists of :
(i) Pack Animals
(ii) Bullock Cart
(iii) Road Transport
(iv) Motor Lorries, Buses
(v) Tramways
(vi) Railway Transport

Industry includes all those business activities which are connected with raising, producing or processing of consumer goods. Example-bread, butter, cheese, shoes, or capital goods like machinery.

Entrepot trade means importing of goods from one country and exporting the same to foreign countries. It is also known as 'Re-export trade'.

International business denotes all those business activities which take place beyond the geographical limits of the country.

Private Capital consists of Foreign Investments, long-term loans, and Foreign Currency Deposits.

1. Business have considerable social power.
2. Their decisions and actions affect the lives and fortunes of the society.
3. They collectively determine for the nation such important matters as level of employment, rate of economic progress and distribution of income among various groups.

Improvement in Balance of Payment Position:
i. MNCs help the host countries to increase their exports.
ii. As such, they help the host country to improve upon its Balance of Payment position
Improvement in Standard of Living:
By providing super quality products and services, MNCs help to improve the standard of living of people of host countries.

A partnership may be dissolved on the happening of the following contingencies:
(i) Death of a partner.
(ii) Expiry of the time, if it is for a fixed period.
(iii) Completion of the venture for which firm was formed.
(iv) Adjudication of a partner as an insolvent.

(1) A contract in which both the parties commit to perform their respective promises is called a bilateral contract.
(2) For Example: 'R' offers to sell his fiat car to'S' for Rs 10,00,000 on acceptance of 'R's offers by 'S', there is a promise by 'R' to sell the car and there is a promise by'S' to purchase the car, there are two promises.

1. Any company is referred to as a multinational company or corporation (MNC) when that company manages its operation or production or service delivery from more than a single country.
2. It has its headquarters based in one country with several other operating branches in different other countries.
3. The country where the headquarters is located is called the home country whereas; the other countries with operational branches are called the host countries.
4. Example: IBM

(i) The motto of every group members should be "save first" - Credit Later"
(ii) Self help group is homogeneous in terms of Economic Status.
(iii) The ideal size of a self help group ranges between 10 to 20 members.

There are three different marine insurance policies.
They are:
(i) Hull or Ship Insurance:
When a ship is insured against any type of danger, it is known as hull insurance. This policy is undertaken to indemnify the insured for losses caused by damage to ship.
(ii) Cargo Insurance:
(1) When a marine insurance policy is taken by the cargo owner to be compensated for loss caused to his cargo during the journey, it is known as cargo insurance.
(2) The cargo to be transported by ship is subject to many risks, like risk of theft, loss of goods in voyage, etc.
(iii) Freight Insurance :
(1) When a marine insurance policy is taken to guard against non-recovery of freight, it is known as freight insurance.
(2) The shipping company is mainly interested in freight, which it gets either in advance or on the arrival of goods.
(3) However, it will not get the freight, if goods are lost during transit. So, to insure the freight, it takes freight insurance.

Diversified banking functions:
Competition in the banking industry has reduced their profits. Therefore the commercial banks started identifying and offering new and diversified financial services. They are purely other than banking services. Providing all such banking and other financial services is also called universal banking.

In the aforesaid circumstances, A shall be entitled in two-way remedy.
(i) Right of rescission,
(ii) Right to claim damages.
(1) Since, as per facts, A willfully abstained herself. B shall be within his right to rescind the contract.
(2) In such circumstances, section 75 of the Indian Contract Act, 1872, provides that a person who rightfully rescind a contract' is entitled to a compensation for any damage which he has sustained for non-fulfilment of the contract.
(3) B, shall, therefore, be entitled, not only to do away with the services of A but also to claim compensation for the damages which he has sustained through the non-fulfilment of the contract.

Out of Gross Total Income, Income tax Act, 1961 allows certain deductions under section 80. After allowing these deductions the figure which we arrive at is called 'Total Income' and on this figure tax liability is computed at the prescribed rates.

Main functions of EXIM Bank are as follows:
(i) It provides direct financial assistance to exporters of plant, machinery and related services.
(ii) It underwrites the shares, debentures, and bonds of the companies engaged in exports.
(iii) It provides re-discount facility in respect of export bills for a period not exceeding 90 days against short-term export bill discounted by commercial bank.
(iv) It gives overseas buyer credit to foreign exporters for the import of Indian Capital Goods which are used for manufacturing export products.
(v) It finances export-oriented industries.
(vi) It collects and provides market and credit information about foreign trade to those engaged in international business.

A wholesaler provides valuable services to manufacturers, producers, retailers and customers.
1. Economies in Large Scale.
2. Assistance in Distribution.
3. Warehousing Facility.
4. Forecasting of Demand
5. Publicity of Goods
6. Financial Assistance.
7. Risk-bearer
8. Link

The court does not grant specific performance in the following cases:
(i) Damages are an adequate remedy.
(ii) The contract is not certain.
(iii) The contract is inequitable to either party.
(iv) The contract is of revocable nature.
(v) The contract is made by the trustee in breach of trust.
(vi) The contract is of personal nature i.e., contract to marry.
(vii) The contract made by a company ultra-vires of its Memorandum of Association.
(viii) The court carmot supervise its carrying out.

Tata Group is the best example for the corporate social responsibility in India. The Tata Group conglomerate in India carries out various CSR projects, most of which are community improvement and poverty alleviation programs. Through self-help groups, it is engaged in women empowerment activities, income generation, rural community development, and other social welfare programs. In the field of education, the Tata Group provides scholarships and endowments for numerous institutions.

Franchising fees:
The initial franchising fee and the subsequent renewal fees can be very high in case of successful businesses. From the franchisee's point of view, this may be a deterrent.
Fixed royalty payment:
The franchisee has to make payment of royalty to the franchiser on a regular basis. This considerably reduces the income of the franchisee.
Danger of image tarnishing:
If the franchisee does not maintain standards of quality and service; there is a danger that the goodwill and image of the reputed franchiser will be adversely affected.
Lack of freedom:
The franchisee does not have the freedom to run his business in an independent manner. He has to abide by management and operational policies of the franchiser, This may serve as a deterrent whether suitable to him or not.
Limitation on range of products:
The franchisee cannot introduce new product lines into the business, except those permitted by franchiser. This may mean loss of business to franchisee amidst demands based on local conditions.

The types of ltinerants are as follows:
a. Peddlers and Hawkers:
Peddlers are individuals who sell their goods by carrying on their head or shoulders moving from place to place on foot. Hawkers are petty retailers who sell their goods at various places such as. bus stop, railway station, Public Park and gardens, residential areas and other public places using a convenient vehicle to carry goods from place to place
b. Street Vendors:
The traders sit on the footpath of the road or at the end of the road (pavement) and sell their goods such as fruits, vegetables, books, etc. are called Street vendors.
c. Market Traders:
Small traders open their shops at different places on fixed days or dates such as every Sunday or alternative Wednesdays and so on (Varasandhai - weekly market). They deal in one particular line of merchandise and in low priced consumer items of daily use. Examples Pollachi, Manapparai, Ranipet, etc.
d. Cheap Jacks:
Those retailers who have independent shops of temporary nature in a business locality are depending upon the potentiality of the area. They deal in consumer goods and services such as shoes and chappals, plastic items, repair of watches, etc.

Ocean going ships may also be divided into two, namely Liners and Tramps:
Liner:
An ocean liner is a passenger ship primarily used as a form of transportation across seas or oceans. Liners may also carry cargo or mail, and may sometimes be used for other purposes (e.g., for pleasure cruises or as hospitals ship). They sail to schedule, whether they have a full load or not. They follow defined routes with fixed places and times of call. Regularity of service, god sped and luxurious facilities to passengers v are the specialties of liners. There are two types of liners, namely, Passenger Liners and Cargo Liners.
Tramps:
Tramps are essentially cargo vessels. See the picture above. They have no set, routes. They do not follow any timetable. They sail only when they get sufficient load. They sail at any time and carry cargoes for almost any ports.

a) Quantitative Methods of Credit Control
The methods which influence the total volume of credit in Indian economy are called quantitative or general methods.An increase in the first three measures will reduce the volume of money in circulation in India and vice versa.
i.Bank Rate Policy:
Bank rate refers to the rate at which the RBI re-discounts the bills given by the Scheduled banks.
ii. Cash Reserve Ratio (CRR):
It is the ratio of Cash reserves with the RBI kept by Scheduled banks in proportion to the total Time and Demand Liabilities with them.
iii.Statutory Liquidity Ratio (SLR):
It is the ratio of money and money equivalents kept within the bank in proportion to the total Time and Demand Liabilities with them.
iv.Open Market Operations:
The RBI directly buys or sells the securities and bills in the money market either to decrease or to increase the total volume of money.
b) Qualitative Credit Control Measures:
These methods influence the volume of money in selected or particular sectors of the economy.
i.Rationing of credit:
Maximum limit is fixed for lending to certain sectors or specific purposes. in order to include more people to avail banking services.It has also taken up the task of extending the banking system territorially and functionally to the unbanked areas.
ii. Moral Suasion:
The RBI puts pressure on the banks towards liberal or restricted lending during certain periods.

India's important Import items.
i) Minerals, fuels including oil.,
ii) Gems, precious metals.
ii) Electrical machinery and equipments.
iv) Machinery including computers.
v) Organic chemicals.
India's important Export items
i) Petroleum products.
ii) Jewellery.
iii) Automobile.
iv) Bio-chemicals.
v) Pharmaceuticals.

On the basis of size or scale of operations industries may be classified as follows:
1. Micro Industries
2. Small Industries
3. Medium Industries and
4. Large Industries
Under the Micro, Small and Medium Enterprises (MSME) Development Act, 2006, the above types of industries are defined as follows.
1. Micro Units:
A unit wherein investment in plant and machinery is up to Rs. 25 lakhs in case of manufacturing and up to Rs. 10 lakhs in case of service enterprises.
2. Small Units:
A manufacturing unit wherein investment in plant and machinery is more than Rs. 25 lakhs but does not exceed Rs. 5 crore. In case of service enterprises these limits are Rs. 10 lakhs and Rs. 2 crore respectively.
3. Medium Units:
A manufacturing unit wherein investment in plant and machinery is more than Rs. 5 crore but does not exceed Rs. 10 crore. In case of service enterprises, these limits are Rs. 2 crore and Rs. 5 crore respectively.
4. Large Industries:
A manufacturing unit wherein investment in plant and machinery exceeds Rs. 10 crore. In case of a service unit investment in equipment exceeds Rs. 5 crore.

Functions/Role of WTO:
WTO performs the following functions:
(i) It is a forum for negotiation and formalisation of trade agreement among the member countries.
(ii) It settles disputes and grievances relating to trade among the member countries.
(iii) It frames commonly accepted code of conduct in order to reduce trade barriers.
(iv) It holds consultation with IMF and World Bank (IBRD) and its affiliates to bring about a greater understanding and co-operation in global economic policymaking.
(v) It supervises the operation of agreement relating to General Agreement on Tariffs and Trade (GATT) and Trade-related intellectual properties Rights (TRIPS).
(vi) It regulates trade between participating countries.

People invest the savings to gain financial security. They are investing their savings in a various investment avenues for various purposes. They may invest in various securities and wait for a stipulated period to get back their investments with higher value addition. Following are some of the personal investment avenues.
a) Public Provident Fund (PPF) :
(1) It is the safest long term investment option for the investors in India. It is totally tax-free.
(2) PPF Account can be opened in a bank or post office.
(3) The money deposited cannot be withdrawn before 15 years and an investor can earn compound interest from this Account.
(4) However, the investor can extend the time frame for the next five years if the investor does not opt to withdraw the amount matured for payment at maturity date. PPF investor can take loan against PPF Account when he/she experiences Financial difficulties.
b) Mutual Funds:
1. An individual investor who wants to invest in equities and bond with a balance of risk and return generally can invest in mutual funds
2. Nowadays people invest in stock markets through a mutual fund. Systematic investment plan is one of the best investment options in India.
c) Direct Equity or Share Purchase:
1. An individual can opt for investment in shares.
2. But he has to analyse the market price of various shares traded in stock exchange, reputation of the company, consistency in the payment of dividend, the nature of the project undertaken by the company, growth prospects of industry in which a company is operating, before investing in shares.
3. If the investment is made for a long time, it may yield good return.
4. However there is equally risky to invest in shares as there is no guaranteed return in their security.
d) Real Estate Investment:
(1) Real Estate is one of the Fastest growing sectors in India.
(2) Buying a flat or plot is the best decision amongst the investment options.
(3) The value of real asset may increase substantially depending upon the area of location and other support facilities available therein.
(4) However an investor in real estate has to be cautious and circumspect in verifying the genuineness of the title deeds before investing in real estate assets.
e) Unit Linked Insurance Plans (ULIP):
ULIP is a life insurance linked product, which provides risk cover for the policyholder along with investment options to invest in any number of qualified investments such as stocks, bonds or mutual funds.

Dissolution of Partnership	Dissolution of Firm
A partnership is dissolved by retirement or admission or insolvency (ie) the change of original partnership	All the Partners terminate their connections with the firm.
It means the termination of original partnership agreement	It means partnership comes to end.
The business will continue even if the partnership is dissolved.	The business cannot be continued in the dissolution of firm.

(i) Executed contract:
(1) A contract in which both the parties have fulfilled their obligations under the contract.
(2) For Example: 'X' contracts to buy a car from 'Y' by paying cash and 'Y' instantly delivers his car.
(ii) Executory contract:
(1) A contract in which both the parties are yet to fulfil their obligations, it is said to be an executory contract.
(2) For Example: A agrees to buy 'B's cycle by promising to pay cash on 15th June. 'B' agrees to deliver the cycle on 20th June.
(iii) Unilateral contract:
(1) Unilateral contract is a one-sided contract in which only one party has to perform his promise or obligation.
(2) For Example: 'X' promises to pay 'Y' a sum of Rs 10,000 for the goods to be delivered by 'Y'. 'X' paid the money and 'Y' is yet to deliver the goods.
(iv) Bilateral contract:
(1) A contract in which both the parties commit to perform their respective promises is called a bilateral contract.
(2) For Example: 'R' offers to sell his flat car to 'S' for Rs 10,00,000 on acceptance of 'R's offers by 'S', there is a promise by 'R' to sell the car and there is a promise by 'S' to purchase the car, there are two promises.

Advantages :
The following are some of the important advantages of co-operative societies.
a) Voluntary organization :
1. The membership of a co-operative society is open to all. Any person With common interest can become a member.
2. The membership fee is kept low so that everyone would be able to join and benefit from cooperative societies.
3. At the same time, any member who wants to leave the society is free to do so. There are no entry or exit barriers.
b) Easy formation:
1. Cooperatives can be formed much easily when compared to a company.
2. Any 25 members who have attained majority can join together for forming a cooperative society by observing simple legal formalities.
c) Democracy:
1. A co-operative society is run on the principle of "one man one vote'.
2. It implies that all members have equal rights in managing the affairs of the enterprise.
3. Members with money power cannot dominate the management by buying majority shares.
d) Equal distribution of surplus:
1. The surplus generated by the cooperative societies is distributed in an equitable manner among members.
2. Therefore all the members of the cooperative society are benefited.
3. Further the society is also benefited because a sum not exceeding 10 per cent of the surplus can be utilized for promoting the welfare of the locality in which the cooperative is located.
e) Limited liability:
1. The liability of the members in a cooperative society is limited to the extent of their capital contribution.
2. They cannot be personally held liable for the debts of the society.
f) Separate Legal entity:
1. A cooperative society enjoys separate legal entity which is distinct from its members.
2. Therefore its continuance is in no way affected by the death, insanity or insolvency of its members. It enjoys perpetual existence.

The passage of goods and services between the producer and the consumer is best with many hindrances and some of them are as follows:
Hindrance of person:
1. Manufacturers do not know the place and face of the consumers.
2. It is the retailer who knows the taste, preference and location of the consumers.
3. The chain of middlemen consisting of wholesalers, agents and retailers establish the link between the producers and consumers.
Hindrance of place:
1. Production takes place in one centre and consumers are spread throughout the country and world.
2. Rail, air, sea and land transports bring the products to the place of consumer.
Hindrance of time:
1. Consumers want products whenever they have money, time and willingness to buy.
2. Goods are produced in anticipation of such demands.
3. They are stored in warehouses in different regional centres so that they can be distributed at the right time to the consumers.
Hindrance of risk of deterioration in quality:
1. Proper packaging and modern air conditioned storage houses ensure that there is no deterioration in quality of products.
2. Goods are protected against insects, rats, evaporation etc..
Hindrance of risk of loss:
1. Fire, theft, floods and accidents may bring huge loss to the business.
2. Insurance companies serve to cover the risk of such losses.
Hindrance of knowledge:
Advertising and communication help in announcing the arrival of new products and their uses to the people.
Hindrance of exchange:
Money functions as a medium of exchange and enable the buying and selling of any product or service by payment of the right price.
Hindrance of finance:
1. Producers and traders may not have the required funds at the time of their need.
2. Banks and other financial institutions provide funds and help in transfer of funds to enable the functioning of business smoothly.
Hindrance of developing the exact product:
Research and development helps in developing the exact product or service which can satisfy the specific wants of consumers and. thus improve the standard of living of the people.
Hindrance of both selection and delivery at doorsteps:
E-Commerce enables the consumer to select the product in the website, place online orders and make payment after receiving the product at the doorstep.