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Bachelor of Commerce B. Com.

Banking & Insurance

95

First Year B. Com. Banking & Insurance


FIRST YEAR SEMESTER I
1.1 1.2 1.3 1.4 1.5 1.6 Environment and Management of Financial Services Principles of Management Effective Communication : Paper - I Economics : Paper - I Quantitative Methods : Paper I Introduction to Computer Systems

ENVIRONMENT AND MANAGEMENT OF FINANCIAL SERVICE


Module 1.1
A. 1. Environment of Financial Services Nature and Scope of Banking, Insurance and other Financial Services in Economic Growth: An Overview of Indian Financial System and its constituents. A broad understanding of Terms of Banking, Insurance and Other Financial Services their meaning and their use in daily Business. Justification or inclusion of Banking and Insurance also in the package of Financial Service. Banking : Origin and Development of Indian Banking. Present Structure : Central Banking (RBI): Commercial Banking (Nationalised and Private): Cooperative Banking: Development Banking; (Financial Institutions like NABARD, IDBI. SIDBI. Exim Bank, IFCI. ICICI, SHCL. DFHI. NHB, SFCs etc..) investment Banking: International Banking. Roles and Functions of different types of Banking. Regulatory Framework governing the functioning of different types of Banks (RBI Act. 1984, Banking Regulations Act, 1949 and ): Laws and Enactments affecting day to day Banking Operations - Collections and Payments. Indemnities. Bank Guarantees. Letter of Credit. Bill Discounting. Bill Financing and Securities (Indian Contracts Act, Sale of Goods Act. Negotiable Instruments Act, Evidence Act. Indian Partnership Act, Indian Company Law etc. Insurance: Need for and Importance of Insurance: Risk Management, Risk and Return Relationships: Types of Risks, Qualification of Risks; Branches of Insurance (Life and General - Different Schemes); Insurance Business Environment; Mathematical Basis of Life Insurance, Reinsurance Cover, Regulatory and Legal Framework governing the Insurance; Business and Economics of Insurance. Need for changing Mindset. Latest Trend, Other Financial Services: Objectives of Financial Services Types of Financial ServicesClassified on the basis of Market Instruments used Capital Market Services, Issue Management/Merchant Banking, Portfolio Management, Mutual Funds. Investing and Broking, Dematerilsation of Securities. Money Market Services (Arbitrating in and distribution of Money Market Instruments such as 96

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Commercial Paper, Certificate of Deposits, T-Bills, Transactions in Repose & Reverse Repose. Commercial Bills etc., Management of short-term funds such as money Market Mutual Funds, Managing Receivables that is, Factoring or Bills Discounting) Asset Related Credits such as Leasing, Hire-Purchase, Stock Financing & Venture Financing: Risk- based such as Letters of Credit, Guarantees and Bills Receivables, Mortgages & Housing Finance. Financial Engineering and Advisory services - Concepts - Procedures/Formalities and Regulatory and Legal framework governing the functioning of Money Markets. Reform of the Financial System - Financial Services - Challenges Ahead. B Management of Financial Services 1. Banking Finance. 3. Consumer Finance 5. Securitisation 7. Swaps 9. Factoring 11. Electronic Banking 2. 4. 6. 8. 10. Venture Capital Disinvestment Leasing or Lease Finance Derivatives International Finance (Foreign-Exchange)

PRINCIPLES OF MANAGEMENT
Module 1.2.
1. Nature of Management : Definition of Management. Nature of Management. Management as a Science, as an Art. as a Profession- Professionalisation of Management, Traditional Management Vs. Professional Management, Level of Management. Development of Management Thought. Taylors Scientific Management, Contribution of Henri Fayol, Contribution of Peter Druker, Contribution of behavioural scientists and Indian Management thoughts. Management Process: Functions of Management, coordination, Planning, Organising, Controlling, Directing, Decision Making. Motivating and Leadership. Planning & Decision Making: Definition and importance of Planning, steps in Planning, Corporate Planning. Strategic Planning. Limitations of Planning. Forecasting Concepts and technique of forecasting, planning premises. Organising : Organisation Structure, Process of organising, Basic structures and operating Mechanism, Features of a good Organisation structure, Organisation Chart-Organisation ManualDepartmentalisation. Authority and Responsibility, Management of change - Delegation. Types of organisation. Controlling : Steps In Controlling, Essentials of effective controlling. Importance of controlling control techniques. Budgetary control. Break even analysis. Pert-CPM-Management audit. Human resource audit, social audit. Motivation : Theories of Motivation. Maslows need hirarchy. Hezbergs motivation. Hygiene theory McGregors theory -X and rooms expectancy theory and theory-Y Leadership: Definition. Importance. Leadership styles. Effective leadership, Quality of good leader & Mentor. 97

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Staffing : Recruitment and Selection, sources of man-power, selection process. Training and Development

Visits : Atleast a day visit to a leading Bank or Financial Institution and one visit to a Insurance Company.

EFFECTIVE COMMUNICATION : PAPER - I


Module 1.3
1. CONCEPT OF COMMUNICATION Definition, need and importance of Communication, Process of Communication, Objectives of Communication e.g. Information, education, training, order and Instruction. Motivation, persuasion, suggestion. Counselling and advice. Characteristics of effective communication COMMUNICATION SKILLS A-1 Listening: Definition of Listening, Types of Listening - projective emphatic, marginal etc. How to listen effectively (Practice may be given to the students in listening with comprehension with special emphasis on significant words, sentences & sequence of thought.) Barriers to listening- marginal, intellectual, pretended. A-2 Reading: Reading with fluency and speed Ways of reading (skimming, scanning, extensive reading. Intensive reading. Subskills of reading: Identifying inferring interpreting, collecting and reordering relevant Information from texts. Recognising vocabulary, -grammatical structure and textual organisation. (Practice may be given to the students in recognising & understanding cohesive devices and coherence) A-3 Writing: Vocabulary and grammar (practice may be given to the-students In using vocabulary and grammatical structures arising out of texts related to financial- services including acquaintance with financial terms) Factual Writing Notice, circular, agenda, resolutions, minutes, agreements etc. Editing and summarising. Rewriting editing, shortening condensing, preparing abstracts. A-4 Speaking: Naturalness and fluency Pronunciation and sentence stress Voice modulation, Confidence and sensitivity to audience. You Attitude (You attitude has to be emphasised in the practice of all the above-mentioned skills.) MODES OF COMMUNICATION : Verbal and Nonverbal. Verbal- Oral and written communication. Face to face communication Nonverbal-Facial expressions, gestures, signs, symbols, signals. sketches, graphs, maps, charts, posters. Silence Conventional and Electronic Conventional mail telex telephone/telegraph. Electronic Fax, computers, internet E-mail websites.

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COMMUNICATIVE FUNCTIONS : Enquiry order, persuasion, complaints, claims, adjustments, (practice may be given to the students in using specimen documents e.g. circulars from SEBI, RBI bulletins, Govt. notifications rules, amendments, advertisements, sales letters etc. and other relevant material may be used to explicate the above mentioned functions) BARRIERS TO COMMUNICATION : Types of barriers - Physical and mechanical. Psychological linguistic and socio-cultural How to overcome barriers WRITTEN COMMUNICATION : Principles of letter writing. Layout/Format of business letters Application, appointment, confirmation, promotion, demotion, termination. Bio-data. Testimonials. ORALCOMMUNICATION : Speeches on different occasion e.g. Inauguration, welcome. Introduction, felicitation vote of thanks Group Communication (Inter action) Group discussions, committees, conferences. Symposium, Seminars, panel discussions teleconferencing.(Practices may be arranged for the students for the above topics)

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ECONOMICS : PAPER - I
MICRO ECONOMICS Module 1.4
1. INTRODUCTION: Scarcity, choice and. efficiency (with reference to PPC) - Basic tools of economic analysis: equations, functions, identities, slope, time - series, cross-section analysis, scatter diagrams, derivatives and limits. DEMAND AND SUPPLY: Determination of equilibrium price in an open market system. Elasticity of demand - Price, Income. Cross. Promotional elasticity of demand- its measurement and its application in business decisions. Demand forecasting Survey and statistical methods. PRODUCTION FUNCTION: Production function-Laws explaining production function in the short and the long run- Internal and external economies. COST AND REVENUE ANALYSIS: Cost concepts behaviour of costs in the short-run and longrun. Revenue concepts-Break-even analysis MARKET STRUCTURE: Features of perfect competitions and monopoly-concepts of price discrimination-equilibrium under dumping. Features of Monopolistic competition. Oligopoly- Price indeterminateness - Cartel formation. Different forms of price leadership. PRICING PRACTICES: Marginal cost-pricing-Cost, plus pricing -Transfer pricing -Case studies of Pricing practices.

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QUANTITATIVE METHODS : PAPER - I


Module 1.5
a) Introduction: Organizing Data, Frequency Distribution. Measures of Central Tendency. Organising data. Preparation of frequency distribution Graphical and diagrammatic representation-Histogram, Frequency Polygon and Ogives. Definition of Averages and objective of Averages Types of Averages. 99

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Arithmetic mean, Geometric, Harmonic mean and its usages, mode and medium (using graph also) for both grouped as well ungrouped data. Measures of Dispersions: Concept and idea of dispersion. Various measures Range, Quartile Deviation. Mean Deviation, Standard Deviation and corresponding relative measures of Dispersion, Geographical representation and utility of various measures of Dispersions. Co-variance, Co-relation arid Regression: Meaning, Definition and Implication of covariance. Concept of correlation. Rank Correlation. Regression concept. Relationship with Correlation, Assumptions in Simple Regression. Estimation using Simple Regression: Fitting of a straight line, Method of least squares, construction of characteristics line/estimation line (y = a+ bx), Slope of the regression line and its interpretation (theoretical and graphical). Multiple Regression : Regression with two independent variables. Y =a+b1 x1+b2+x2, standard error of the Estimate. Co-efficient of Multiple Correlation and Partial Correlation. Probability: Probability Distribution and Decision Theory, Concept of Probability yenn diagrams. Rules of Probability (addition and multiplication) Conditional and Unconditional Probability (dependent and independent events), Bayes theorem. Discrete and Continuous Variable. Expected value of the variable. Decision theory, Normal distribution. Mathematical Topics a. Percentage Brokerage b. Linear equation Solutions (for 2 variables) c. Graphs, d. Concept of slope, area under the curve optimization. e. Extrapolation, Interpolation (Meaning & uses. Graphical & linear method. Interpolation in financial analysis)

INTRODUCTION TO COMPUTER SYSTEMS


Module 1.6
1. Computer Hardware : Processor, memory, bus, Input-output devices, backing storage devices. Fetch / execute cycle, word length, bus line width. CISC & RISC machines. RAM, ROM and their sub-classifications. Input Devices : Keyboard, mouse, trackball, Pen input, touch screen, game controllers, barcode readers, scanners & OCR, OMR, MICR, microphone and voice recognition devices, video input, digital cameras. POS terminals. Output Devices : CRT Monitors, Flat panel LCD monitors. The video controller card. Size. resolution, refresh rate and dot pitch comparison of monitors. COM devices. LCD projectors, sound systems. Dot Matrix Printers, ink jet and bubble jet printers, laser printers. Backing Types of Computers : Magnetic disks diskettes, removable high capacity disks, RAID. tape drives DAT drive. Optical disks: CD-ROM, Photo-CD, CD-R, CD-RW, DVD. Different Types of Computers : Desktop PCs, workstations, minicomputers/mid-range computers, mainframe computers, servers, supercomputers, notebook computers, hand-held computers. Multimedia computers. Computer Software : Systems software and application software. Operating systems; common functions. Windows 98. Windows NT. Windows 2000, Windows ME. Windows CE, Unix, Linux. Solaris. Mac OS. Enterprise operating systems like IBM OS/390 or OS/400. Consumer appliances OS. Application software. Propriety and off the shelf software. Comparison between them. Personal application software: word processing, spread sheet, presentation software, financial management software. Workgroup application software; lotus notes. Enterprise Resource Planning (ERP) software, supply chain management (SCM) software, customer relationship management (CRM) software. Knowledge Management (KM) Software. Programming Languages : Machine language. Assembly language. Traditional 3rd generation languages: their characteristics and evolution. Object oriented languages Visual languages. Al languages. Assemblers, Compilers and Interpreters. 100

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Database Management Systems : The file based approach and the database approach to data management. Differences between them. The advantages of the database approach. Data entities, attributes and relationships. Data dictionary and the DBMS. Database model: hierarchic. network and relational DBMS. Tables and relationships between tables. Data records and fields: primary key, composite key, candidate key, candidate key and foreign key: Facilities available in a DBMS ODBC and OLEDB connectivity. Object relational and object oriented databases Networks : Their uses. LAN. MAN. WAN. Peer to peer. client server, 3-tier n-tier networks. Network topologies. Network media; UTP. STP, coaxial, fiber optic, microwave, satellite and VSAT networks. Hubs, switches, routers, gateway and earth station equipment. Ethernet LANs. Fast Ethernet. Network software. Network OS, NetWare, Windows 2000 server. Cellular transmission. Data Communication : Over telephone lines, modems, fax modems, multiplexers, front end processors. ISDN. T1; T3 and ATM digital communication. DSL technologies. Digital communication over a cable network. The Internet : What is it ? What are its uses? TCP/IP. Internet addressing scheme. Domains and sub domains, URL. lpv6,DNS, E-mail, voice over IP. telnet. IRC. newsgroups. Intranets and Extranets. Introduction to Information Systems : Data and information.. Characteristics and value of information. System and modeling concepts. What is an information system? Business information systems. Transaction processing and workflow systems. Management information systems; decision support systems, artificial Intelligence systems and virtual reality systems. Electronic Commerce : Multi-stage module; Challenges of E-commerce. supply chain in an ecommerce system. B2B and B2C E-commerce. E-commerce applications in retail, wholesale, Manufacturing marketing, investments and finance. E-commerce technology infrastructure. Electronic payment systems. Threats to E-commerce. Strategies for successful E-commerce.

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10. Security Privacy and Ethical Issues : in Information Systems and the Internet. Computer related mistakes Computer crime and viruses. Anti-virus software and Firewalls Legal framework for avoiding computer crime. Privacy issues. Health concerns. Ethical issues. 11. Review, Additional Case Studies Practical Work 1. Windows 3. Spreadsheet Software 2. 4. Word Processing software Multi-media presentation

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Internet

Project Work Study a banking, FIFFI or NBFC site on the Internet and write a report on it. Comment about the content, look and feel, speed and ease of the use of the site. OR Develop a Website using Microsoft Front Page, Dream Weaver, or a similar tool.

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FIRST YEAR SEMESTER II


2.1 2.2 2.3 2.4 2.5 2.6 Principles and Practices of Banking & Insurance Financial Accounting : Paper - I Effective Communication : Paper - II Economics : Paper - II Quantitative Methods : Paper - II Business Law

PRINCIPLES AND PRACTICES OF BANKING AND INSURANCE


Module 2.1
1. 2. Banking : Basic Concepts , Need for Banks , Banking as an ancestral Service, Main functions and other services, Legal Framework, Different Types of Banks-Their structure, Organisations and working, Need for proper Regulation and Supervision. Insurance : Basic concept of risk, kinds of business risk, assessment and transfer, Basic Principles - Principles of utmost good faith interest, indemnity, economic function, proximate cause, subrogation and contribution. Types of Insurance, Re-Insurance, Risk and return relationship. Need for coordination. Other financial services : Investment Market, Debt and equity market, primary and secondary market risks, non-bank finance companies, non-fund activities and services, foreign exchange.

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FINANCIAL ACCOUNTING : PAPER - I


Module 2.2
1. Meaning and scope of Accounting Need, development and definition of accounting, bookkeeping and accounting. Person interested in accounting Disclosures, Branches of accounting, Objectives of accounting, Accounting Principles: International accounting standards (only outlines): Accounting Principles: Accounting standards in India. Accounting Transactions; Accounting Cycle: Journal; Rules of debit & credit Compound journal entry; Opening entry; Relationship between journal and ledger. Rules regarding posting; Tribal balance Sub division of journal. Capital & Revenue : Classification of Income: Classification of Expenditure Classification of receipts. Accounting concept of income: Accounting concepts and income measurement Expired cost and income measurement Final-accounts: Manufacturing account, Trading account, Profit and Loss account Balance sheet. Adjustment entries. Rectification of errors: Classification of errors; Location of errors; Rectification of errors: Suspense account: Effect on profit. Depreciation Provisions and Reserve; Concept of depreciation: Causes of depreciation: Depreciation, depletion, amortization & Dilapidation. Depreciation accounting: Method of recording Depreciation: Methods of providing depreciation. Depreciation of different assets: Depreciation of replacement cost: depreciation policy, as per Accounting Standard 4. Depreciation accounting; Provisions & reserves. Accounts of Non-Trading Institutions Computer Applications in Accounting 102

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EFFECTIVE COMMUNICATION : PAPER - II


Module 2.3
A. Correspondence A-1 Internal Correspondence Application call for an interview, appointment letter, confirmation promotion, demotion, memos. termination of service, testimonials to the employee. A-2 External Correspondence: Enquiries, and replies regarding terms and conditions, queries with reference to financial service, complaint and grievances, regarding, delay in service, non- cooperation and lethargy of staff indifferent attitude of staff. Queries regarding payment of installments, discounts, early bird incentive, credit-debit cards, inviting constructive suggestions from the clients for improving the performance of financial institutions e.g. banks, H.D.F.C., S.F.C.. I.F.C..H. D. B. Correspondence with Intermediaries Correspondence with stock brokers. Applying for shares, buying and selling of shares, non- receipt of share certificate, seeking advice regarding profitable investment. Correspondence with the Registrar of a company with the underwriter regarding underwriting agreement. Correspondence between, clients customers and financial institution e.g. banks, H.D.B. H.D.F.C., with regard to following situations : Personal loan, housing loan, consumer loan, renovation loan, car loan, education loan, self employment loan. Foreign Travel loan, hire-purchase & installment loan, agricultural loan. Correspondence with insurance Company : I. Proposal for insurance acceptance and implementation policy document, settlement of claim. II. Report writing Theory of report writing. Definition of a report. Essentials of a good report. Format of report including letter format. Individual report and Committee report. Discussion and drafting of following types of reports : Feasibility report, performance report, market survey report, project report, industrial visit report, regarding recovery of bad and doubtful debts and writing, off loans in case of poor landless farmers. III. Summarisation Summarisation of commercial and financial texts to one third of the original passage to be practiced by the student in groups of 5 to 7 students in the tutorial classes. IV. Presentations: How to make effective presentation. Presentation of seminar papers (on financial matters, book reviews etc. by student in groups of 5to7)

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ECONOMICS : PAPER - II
MACRO ECONOMICS Module 2.4
1. 2. National Income: Concept and measurement- Real Vs. Nominal GNP -Price Indies and National Income deflator. Income Determination: Integrated approach (IS-LM curve model) - Goods market equilibrium (Derivation of IS curve) - Money market equilibrium (derivation of LM curve) Simultaneous equilibrium of the goods market and money market Impact of changes of monetary policy and fiscal policy on the rate of interest and level of income. Money and Banking : Money Supply: constituents and determinants -Credit Creation by the banking 103

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system. Central banking: functions-monetary and liquidity aggregates objectives of monetary policy and conflict between objectives of monetary policy. OVERVIEW OF FINANCIAL SYSTEM : Role of financial systems in economic development - Financial development ratios: Finance Ratio, Financial interrelation Ratio, New Issues Ratio, Intermediation ratio. FISCAL OPERATIONS : Public Revenue: Sources - Public expenditure: classification Public debt: Management. Deficit financing and Inflation Components of budgets, and concept of deficits Business cycles, fiscal policy and economic stabilization. BALANCE OF PAYMENTS : Concepts and components of balance of trade and balance of payments - disequilibrium in balance of payments - measures to correct the disequilibrium in balance of payments. Relative merits and demerits and limitation of Devaluation.

QUANTITATIVE METHODS : PAPER - II


Module 2.5
A. Index Nos. Concept and usage of Index No Construction of Index Nos. Types of Index Nos. Aggregate and Relative method of construction Index Nos. Chain Base Index Nos. Test of consistency: Time reversal. Factor and Circular Test Quantity and Value Index Nos. for Agricultural, Industrial production. Retail prices. Consumer price Index nos. for Industrial workers. For urban non-manual employees, agricultural labourers, Index Nos. for Security Price, etc. Population and Sampling: Concept of Sampling, Types of sampling. Types of errors. Estimation Point and Interval Estimates. Standard error. Estimated population mean: Testing of hypotheses: Null, Hypothesis. Alternative Hypothesis. Decision Criterion, Critical Region. Type I and Type II Error, level of significance, Test based on large sample for Means and Proportion/s. Linear Programming, Graphical and simplex method Post optimality analysis: Statistical Application in Finance : Cost volume profit analysis (using linear regression) Project evolution (using probability) Inventory models (E.O.Q. levels) Receivables management (Probability) Time series and forecasting Simulation (using Mono Carlo Method). Statistical Applications In Investment Management : Expected return from shares (using probability) Measuring total risk from Investigator shares (using standard deviations) Partitioning risk Into systematic and unsystematic component (using co-variance) Measuring risks of part folio (using co-relation) to draw conclusions regarding share prices (using testing of hypothesis). Economic indicators: GDP. Real growth in GDP price level Inflation rate, Money supply, Index for agricultural production Index for industrial production. Electrical generation, infrastructure, external economic Indicator. Annual budget, Fiscal deficit. External debt. Debt service ratio. Time value of Money : Time value of money & Interest rate, Simple interest & .Compound interest. Future, value, Present value, Discount rate, Total future and Present value of a annuities sum of constantly growing each flows IRR, NPV, Interest rates compounded more than once a year (Including continuous compounding) Stated annual rate & affective annual rate Perpetuity and its present value. Annuities with frequency other than with which the interest is convertible, Redemption of loan, Introduction to : Matrices, Numerical differentiation, Integration (using Computers with more emphasis on interpretation) Application of Derivatives, Integration (without giving to computational aspects), Partial Derivatives, Application. 104

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BUSINESS LAW
Module 2.6
1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Concept of Law : Principles of Natural Justice Constitution of India (i.e. Articles 14,19,32, 136 and 226 only) Indian Contract Act, 1872, Principles i.e.S/1-74 & indemnify Guarantee, Bailment, pledge and Agency) Consumer Protection Act, 1986 Indian Partnership Act, 193 Indian Trusts Act, 1882 Sale of Goods Act, 1930 Indian Registration Act, 1908 Indian Stamp Act, 1819 Bombay Stamp Act, 1958 Code of Civil Procedure 1908 (i.e. S/60 and orders VII (Plaint). VIII (Written Statement) XXXVIII R. 5 (Attachment before judgment XXXIX (Injunction) and XL (Receiver) only.

Recommended books for Semester I and II


1. 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 10) 11) 12) 2. 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 3. 1. 2. 3. 4. 5. Environment and Management of Financial Services (Module 1.1) Principles and Practices of Banking & Insurance (Module 2.1) Essentials of Business Finance R.H.Srivastava, Himalaya Management of Financial Institution R.H.Srivastava, Himalaya Investment Management Preeti Singh, Himalya Modem Banking R. S. Sayers Indian Financial System M. Y. Khan, Tata McGrow Hill Life Insurance Corporates as Financial Institutions LIC Associates of America Globalisation Indian Financial Markets Tondon R. K. Gupta S. L. Life Insurance Corporation of India.- VoI I, II and III-Mishra M. N. Life Insurance Corporation Act, 1956 Insurance Regulatory Development Act, 1999 Reports of BSE, NSE, LIC, GIC and other Insurance Companies Journals and official publications. Derivatives by T. V. Somanathan PRINCIPLES OF MANAGEMENT Essentials of Management -Koontz & Weihrich Me Graw Hill. Principles of Management-Terry and Franklin AIBBS Publishers and Distributors, New Delhi. Principles of Management by R.S.Dava. Management theory and practice by C.8. Gupta-Sultan Chand & Sons. Principles and practice of Management by L.M. Prasad (S. Chand & Sons). Principles of Management by Koontz & O'Donnel, Tata Mc Graw Hill Practice of Management by Peter Drucker-Allied Publisher. New Delhi. Management theory & Practice by Dale Ernst Mc Graw Hill. New York. Principles of Management in Banking by Hiramat Shridhar. Total Quality Management - Ahluwalia J. Tata Mc Graw EFFECTIVE COMMUNICATION : PAPER - I Business Communication (Revised Edition) Rai and Raj, Himalaya Publishing House. Effective Business Communication, Herta Murphy Chories Perk, Tata McGraw Written Communication, Freeman Surah Orient Long man Technical Writing and Professional Communications, Huchins Thomas, Mograw Hill Excellence in Business Communication, Bovee New York Mcgraw Hill 105

4. 1. 2. 3. 4. 5. 5. 1) 2) 3) 4) 5) 6. 1) 2) 7. 1. 2. 3. 4. 5. 6. 8. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 9. 1. 2. 3. 4. 5. 6. 10. 1. 2. 3. 4. 5. 6.

ECONOMICS : Paper - I Ahuja H.L.-H.L.Ahuja 999 Business Economics Micro. Lipsey. R. K. A. Crystall 999- of Economics. Lipsey-An Introduction to Positive Economics. P.A.Samuelson-Economics. Tata McGraw Hill. New Delhi. Manklw G.N.2001 -Principles of Economics, Thomson South Western. QUANTITATIVE METHODS Mathematics for Economics & Finance by. Martin Anthony & Norman Biggs. Fundamentals of Statistics - D.N.Elhance. Statistical Methods - S. G. Gupta(S.Chand.& Co.) . Statistics for Management - Lovin R. Rubin D.S. (Prentice Hall of India) Statistics - Theory 'Method & Applications D.S.Sancheti & V. K. Kapoor. INTRODUCTION TO COMPUTER SYSTEMS Principles of Information Systems 5" Ed. Stair & Reynolds Peter Norton's Introduction to Computer 4'" Ed. TMH - 2001 FINANCIAL ACCOUNTING : PAPER - I Introduction to Accountancy -T. S. Grewal-(S.Chand & Co.) Double Entry Book Keeping- J. R. Batliboi. Double Entry Book Keeping - M. M. Chokshi Advanced Accounts -Shukia & Grewal (S.Chand & Co.) Advanced Accountancy - R.L.Gupta & M. Radhaswamy Accounting Standards -Institute of Chartered Accountants of India. New Delhi ECONOMICS : PAPER - II International Economics, SalvatoreD I.(1997). Prentice Hall. NewJersey. U.S.A. The International Economy, Kennen. P.B. (1994), Cambridge University Press, London International Economics Theory and Policy., Krugmen.P.R.& Obstgeld.M, (1994), Monetary Economics, Lewis. M. K. and Mizan. P.O. Oxford Univ. Press,New Delhi. Outline of Monetary Economics Day A. C. L., (1960). Oxford University Press, Oxford. Macroeconomics:Theory & Policy Ackley, G. (1976). Macmillan Publishing Company, New York. Macro economic Analysis,Gupta.S.B. (1994), Galgotia Publications New Delhi. Foundations of Modern, HeijdraB.J. and Ploeg.F.V. (2001), University Press. Oxford. Macro Economics. Macro economic Analysis, Shapiro E..(.1996), Galgotia Publications, New Delhi. Modern Banking. Sayers, R.S. (1978), Oxford University Press, New Delhi BUSINESS LAW The Constitution of India Respective Acts Indian Contract Act, Sale of Goods Act, Partnership Act. Business Law - Kucchat M. C. Business Law - Kapoor N. D. Business Law - Chaudha P. R. LAWS RELATING TO BANKING & INSURANCE Banking Laws & Practice, S.R. Davar Banking Laws & Practice, M.L. Tandon Banking Laws Practice, P.N.Varshney Banking Laws & Practice, P.K. Srivastava Banking Laws &. Practice, B.MJ. Nigam Insurance Management, Anand Ganguly

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Second Year B. Com. Banking & Insurance


SECOND YEAR SEMESTER III
3.1 3.2 3.3 3.4 3.5 3.6 3.7 Laws Relating to Banking & Insurance Financial Management : Paper - I Management Accounting (Tools & Techniques) Customer Relationship Management in Banking & Insurance IT in Banking and Insurance Organizational Behaviour Taxation of Financial Services

LAWS RELATING TO BANKING & INSURANCE


Module-3.1
(a) (b) Banking Regulation Act - Basic Terms- Banking, Business Permitted & Prohibited Supervisory & Controlling Authorities of RBI Bankers Liabilities - Control over Credit Reserve Bank of India Act. Role of Reserve Bank as Banker to Governments & Banks- Scheduled Bank.-Controllerof Credit.-Chapter III-Section 45. . N BFC Directions issued by Reserve Bank of India. Negotiable Instruments Act. Types & Characteristics of Instruments. Holder in Due Course/Payment in Due Course. Protection of Paying & Collecting Bank. Provisions of Companies Act relating to Banking. Insurance Act-life Insurance-General Insurance. Insurance Regulatory & Development, Authority (IRDA) Act: Objectives - Powers - Functions Contract Act General : Indemnity & Guarantee - Bailment & Pledge - Agency

(c)

(d) (e) (f) (g)

FINANCIAL MANAGEMENT : PAPER - I


Module 3.2
1. 2. 3. Overview of Financial Management (Scope, Functions and objectives) Return on Investments (ROI) Tools of Financial Analysis a) Common size statements 107

b) c) d) e) f) 4.

Comparative Financial Statements Trend analysis Ratios : Balance sheet Ratios, Income statement Ratios - Combined statement Ratios Funds flow analysis Sources and Uses of funds Cash Flow Statement.

Working Capital Management a) Gross working capital b) Net working capital c) Positive & Negative working capital (Meaning & Implications) d) Estimation of working capital Sources of Finance a) Long term and Short term Sources of Finance b) Long term sources i) Debt Instruments - Term loans, Debentures, Bonds, Convertible Bonds, Zero Coupon Bonds. ii) Equity shares. Preference shares c) Short term sources - Bank finance. Trade credit, Other short-term sources.

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MANAGEMENT ACCOUNTING (TOOLS & TECHNIQUES)


Module 3.3
1. 2. 3. Overview of Management Accounting (Scope, Functions & Objectives) Treasurer & Controller (Compares Contrast Roles) Meaning and use of: Different costs for different purposes a) Product costs and period costs b) Direct costs and indirect costs c) Cash costs and non-cash costs d) Opportunity costs e) Fixed costs, variable costs, mixed costs, step fixed costs f) Marginal costs, incremental or differential costs, total costs, Controllable costs and Non-controllable costs Tools & Techniques a) Marginal and Absorption Costing b) Standards, Standard Costing, variance Analysis c) Different Types of Budgets; i) Revenue Budgets. Cost Budget, Profit Budget ii) Capital Budgets iii) Responsibility Budgeting iv) Cash Budgets d) Role of Budgets in an Organization : Organization of the Budget Function. Breakeven Analysis - Meaning & computation of Breakeven Point, Breakeven Sales (Rs.) Breakeven Sales (units) - Margin of Safety. Operating Leverage and its implications Cost- Volume -Profit Analysis. Decision Making -.Product Mix Decisions. Make or Buy Decisions, pricing decisions. Evaluating alternatives in business. Accepting/rejecting of export orders, operation versus shutdown. 108

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CUSTOMER RELATIONSHIP MANAGEMENT IN BANKING & INSURANCE


Module 3.4
1. Introduction Definition of Customer Relationship Management (CRM) Emergence of CRM CRIVI process framework CRM Purpose Relation Parties CRM Programmes Effects of liberalization on CRM Knowledge Management Winning markets through effective CRM Technological tools for CRM Data Mining for CRM Changing patterns of E-CRM Solutions in the Future Framework for deploying Value of Customer Relationship in an Organisationm E-CRM deriving values of Customer Relationship Implementing a Technology based CRM solutions Implementing CRM Optional allocation rules for CRM Measuring the effectiveness of relationship marketing The past, present and future of CRM Characteristics of a Good Customer Satisfaction Survey Contact Management Organizing for CRM Relationship Management in Business to Business (B2B) Commerce Building Customer loyalty Business to Business Commerce Cross Border B2B Relationship with Intermediaries Relationship Marketing for Creating Value in Business Market Managing Relationships in Supply Chains of the 21st Century. CRM in. Services status of CRM in India Benefits of Implementing a CRM system CRM in customer Service CRM Strategies Relationship Marketing Strategies and Customer Perceived Service Quality Organizing for Relationship Management Strengthening Relationships that lead towards increased Business, CPA Firms Winning strategies and processes for effective CRM in Banking

2.

3.

4.

5.

6.

IT IN BANKING AND INSURANCE


Module-3.5
1) What is Information Technology; Application In Banking Introduction Electronic Commerce evolution : the market, EDI. EC industry, influence of WWW access providers; basic economics of Information Technology. 109

- Web development tools, value chain for EC; globalization. security, Challenges; business barriers: Market space; Business opportunities; EC-based IPOs; technical environment, Reaching the wired consumer; Intranets: Firefly Network; Web Shopping; Site Specific. Information Technology- & its application in Insurance Cos. 2) 3) Problem Solving : Solving problem by searching; Informed search methods, game playing. Knowledge and reasoning : Agents that Reason Logically; First Order; Logic Building a Knowledge Base; Inference in First Order Logic; Logical Reasoning Systems. (Language for Al problems solving, A PROLOG; B LISP) Acting locally : Planning; Practical Planning; Planning and Acting. Uncertain Knowledge and Reasoning (4 Lectures) Uncertainly; Probabilistic Reasoning Systems: Making Simple Decisions. Learning: Learning from Observations; Learning from Neural Network. Reinforcement Learning; Knowledge in Learning. Future Perspectives: Philosophical Foundations; Al: Present and Future. (Evolutionary Computing; Hard problems and approximate methods; stochastic iterative search; Evolutionary search; classifier systems; applications.) E-Commerce Applications: Online Banking. Virtual Shopping Centers. Portals and Vortals Creating E-Commerce Site : Web Server: Hardware. Software. Security. Installing new Web Server Designing and maintaining Webpages. Website administration, Advertising the Website. Ecommerce Interaction: Using CGI for Ecommerce, CGI Authoring Tools, Applet and Serviet solutions, handling Credit cards, Secure Transport, Processing Credit cards, using JDBC for Ecommerce, Interaction Examples; Virtual Shopping Cards, Auction Engines. Java Commerce Tools: Standard CGI Library, configuration and storage devices, File String Replacement facility, Credit card Transaction Processing , Single Page CGI, Shopping Cart CGI Ecommerce Website Design Web Query Language, Embedded SQL; Development of Ecommerce sites by using CGI, JAVA and databases. Future Trends : Set-top Boxes, TV interface, Emerging Technologies

4) 5) 6) 7)

8) 9) 10)

11) 12)

13)

Practicals : 06 assignments covering the syllabus 2 Seminar presentations on case studies of IT in Banking and Insurance sectors.

ORGANIZATIONAL BEHAVIOUR
Module-3.6
1. 2. Fundamentals of Organisational Behaviour- Nature & scope of Organizational Behaviour Dynamics of people - Models of Organizational Behaviour - The Behavioral approach to Management. Motivation & Leadership-Theories & Models of Motivation 110

Importance of Motivation in organization Organizational Behaviour & Performance Appraisal- Leadership & Leadership Styles- Empowerment and Participation. 3. 4. 5. 6. Individual Behaviour & Group Behaviour Formula and Informal Groups-Team Building & its importance Organization structure & Design - Kind of organization structures - Delegation Of Authority span of control Organizational culture - Emerging Trends in organizational culture- organizational climate -Factors affecting organizational climate. Organisational Development & changes -Nature & characteristics of organizational DevelopmentTechniques of Organisational Development - Definition & Objectives of Organisational Change Effects of change Resistance to change & overcoming the resistance - stress & counseling

TAXATION OF FINANCIAL SERVICES


Module-3.7
1. Income Tax Act/Rules a) Basic Concepts -Assesses, Person, Company Income. Dividend, Business. Assessment Year, Previous Year Scope of Total Incomes Residential Status. Exemptions Re :- Business Incomes. b) Taxation of Income under different Heads c) Provisions for Deductions from Business Income. d) Special Provisions for Certain Incomes of Non-Residents. e) Assessments Appeal Procedures, f) Provisions regarding TDS FOR: Re-Interest Dividend Professional Services Rent Contractors Payment Salary. Service Tax Act a) Basic Concepts - Taxable Services - Service Tax Rules. - Service Tax Credit Rules. b) Provisions Regarding Specific Services Bankings other Financial Services Insurance Auxiliary Business Auxiliary Management Consultancy. Stock Broking General Insurance. Credit Rating Agency.

2.

111

SECOND YEAR SEMESTER IV


4.1 4.2 4.3 4.4 4.5 4.6 4.7 Universal Banking Financial Management : Paper - II Innovation in Banking and Insurance Corporate Laws and Laws Governing Capital Markets Entrepreneurship Management Equity, Debt, Forex and Derivatives Cost Accounting of Banking and Insurance

UNIVERSAL BANKING
Module 4.1
1. 2. Evolution of Universal Banking Commercial Banking versus development banking: sources and uses of funds of commercial banks and development banks; Universal banking a mix of Commercial and development banking; the asset - liability mismatch possibilities; risks in project lending; the short term nature of funding sources; universal banking in the open economy context; off-balance sheet items and services that the development wing of the universal bank provides. The entry of commercial banks into the securities business; Consumer Finance , Merchant Banking, non-banking investments and activities of banks; universal banking and the future of small business lending. Case studies - universal banking abroad - applicability of universal banking in open market oriented emerging economies - advantages and disadvantages; supervisory issues and regulatory concerns. The debate over universal banking in India; recent trends in universal banking in India. Challenges of universal banking in the Indian Context.

3.

4. 5.

FINANCIAL MANAGEMENT - PAPER II


Module 4.2
1. Capital Investment Decisions a) Proposal Origination c) Capital Expenditure Control b) d) Economic Evaluation Post Audit Discounted Payback Method Internal Rate of Return Equivalent Annual Cost

2.

Tools of Evaluating Capital Investments a) Payback Method b) c) Net Present Value d) e) Profitability Index f) g) Modified internal Rate of return

3.

4.

Cost of Capital a) Computation of Weighted Average Cost of Capital b) Cost of Debt & Cost of Preference Shares and Net Worth c) Minimum Acceptable Rate of Return and its relationship with Cost of Capital Negotiating Term Loan proposals with Banks. Appraisals of Borrowers Credit worthiness by lending banks 112

5.

Equity Capital as a source of finance : Rights Issue and issue at a premium, SEBI regulations governing issues of securities in India, Prospectus for issue of securities, Understanding and interpreting Initial Public Offerings (IPO) their mode of operation, Employee Stock Options Plan and Sweat Equity. Role of Taxation in influencing Corporate Financial Management a) Concept of Tax Shield (Tax Deductibility of Expenditures and their implications for financial decisions) b) Depreciation Policy

6.

INNOVATION IN BANKING AND INSURANCE


Module 4.3
This paper deals with various innovative services introduced in Banking and Insurance with special reference to India. 1. Review of functioning of banks, Liabilities and Assets of banks, Net worth of banks; Off-balance sheet items. 2. New products - deposit and loan products; housing finance, hire purchase; leasing; factoring; forfeiting; merchant banking, bank mutual funds; consumer loans, venture capital finance, banks as credit financial supermarket, maturity and return profiles of new products, implications for risk management, derivatives in banking, innovations in credit appraisal system. New Financial services provided by banks- investment portfolio management services, advice on money management, tax services. Electronic payment systems at the retail level; credit and debit cards; e-banking. Definitions and functions of Insurance; nature of Insurance business; the varieties of Insurance Life and General, New Insurance Products. Integration of third party and re-insurance; banking and insurance - their co-existence and the problems involved, Insurance as cover to risks in banking, systematic and unsystematic risk; credit, interest rate, market and systematic risks and bank assurance. Privatisation of Insurance business in India; banking and insurance regulation; self-regulation and installation of corporate governance; future strategies for promoting insurance of India.

3. 4. 5. 6.

7.

CORPORATE LAWS & LAWS GOVERNING CAPITAL MARKETS


Module 4.4
1. 2. 3. 4. Companies Act & Rules : Management & Administration (Part VI); Creation& Registration of Charges (Part V); Capital & Debenture (Part IV) Competition Act Securitization Act Securities & Exchange Board of India (SEBI) Act. Establishment of SEBI Powers Functions of the Board Registration Certificate Finance Accounts and Audit Penalty & Adjudication 113

5. 6.

SEBI - (Disclosure & Investor Protection) - Guidelines Securities Contract (Regulation) Act. Contracts & Options in Securities Listing of Securities Penalties and Procedures. -

ENTREPRENEURSHIP MANAGEMENT
Module 4.5
1. Entrepreneurship -Meaning- Entrepreneurship Awareness - Need for Entrepreneurship & Self Employment Qualities to become an entrepreneur - Building your own enterprise - Government & Entrepreneurship Development Programmes. Business opportunities - Importance of creativity in Entrepreneurship - Bringing our creative ideas. In reality - Managing Resources for small enterprise (6 Ms of Management) - Risk Factor in the self employment - Preparation of project for small scale unit - starting the venture. Legal considerations for opening a new unit forms of ownership - sole proprietary Partnership Elements of Contract Law. Planning for a small scale business - Location of the business - Financial Management Human Resource Management - Production Management - Marketing Management - Cost Controlling Accounting of a business - Developing, Expanding and Ending the venture. Quick start methods - A new approach to selling products & services - franchises - Turnkey or packaged business - Buying an existing business. Entrepreneurship in Banking & Insurance Sectors - opportunities available after privatisation of these sectors. Entrepreneurship Development Centers - Training to entrepreneurs - Training Centers in India. Case Studies - Wherever essential

2.

3. 4.

5. 6. 7. 8.

FINANCIAL MARKETS - EQUITY, DEBT. FOREX AND DERIVATIVES


Module 4.6
1. 2. 3. 4. 5. 6. Indian Financial System in the Post 1950 Period - Introduction - Background - Indian Financial System Regulatory Institution - The Reserve Bank of India: Introduction - Organisation & Management Role & Functions - Monetary Policy of the RBI - Recent Policy Developments Regulatory Institutions : Companies Act, 1956 - Securities Contracts (Regulation) Act, 1956Capital Issues (Control) Act, 1947 - Securities &Exchange Board of India 1992 & other related Act Call Money Market: Introduction - Meaning & Importance of Market - Participation in Transactions - Location -Size of Call Money Markets - Call rates. Commercial Bills Market : Introduction - Bill of Exchange - Size of Bill Market in India Bill Market Rates - Market in Long-term Bills Commercial Paper and Certificate of Deposits Market : Introduction - Commercial paper - CPs in India - Certificate of Deposits in India - CPs and CDs Market : Size and Interest Rates. 114

7.

The Discount Market: Introduction - Discounting Services - Discount Houses in the UK Discount and Finance House of India- Securities Trading Corporation of India - DFHI and STCI : Volume and Composition of Business Treasury Bills + Government ( Gilt - Edged) Securities Market Treasury Bills, Auction, Participation in T. B. Markets & Role of market in Government Finances Nature and Organisation of Government Securities Market Volume and Composition of Issues Secondary Market Transactions Ownership and maturity Pattern Prices and Yields Implications for Monetary Policy Recent Development in Government Securities Market. Industrial Securities Market Introduction - Finance - Organisation and Structure of Primary and Secondary Market Listing, trading and settlement systems Primary Market and Disclosure Norms Prices and Yields of Industrial Securities Measures to Develop Equity Culture Intermediaries in Primary and Secondary Market Market for futures, Options and other Financial Derivatives Introduction and Meaning, Types and Uses of Derivatives Valuation or pricing of Derivatives Derivatives Market Abroad Derivatives in India : Prospects and Policy Foreign Exchange Market Introduction, Nature, Organisation and participants of Market Central Bank Intervention Exchange Rates (ERs) Devaluation and depreciation Currency convertibility (CC) Forward transaction and Forward Premium

8.

9.

10.

11.

COST ACCOUNTING OF BANKING AND INSURANCE


Module 4.7
1. 2. Identifying Elements of Costs : Materials - Staff Cost - Overheads Different Methods of Costing Job Order Costing Service Costing Contract Costing Unit Costing Process Costing Operating Cost Statement Joint products/by products

3. 4. 5.

Cost Accounts & Financial Accounts Compare - Contrast and Reconcile Cost Classification by behaviour with reference to Banking & Insurance Industries Standard Costing Criticisms of standard costing Material prices and usage; labour rate and efficiency (including idle time), variable overhead 115

6.

efficiency and expenditure; fixed overhead expenditure, Volume, capacity and efficiency/productivity Total material mix. and yield variances Total labour mix and yield variances Sales price and volume variances (Note: the volume variance will be calculated on a unit basis using sales revenue, contribution or gross profit) Interpretation of variances: interrelationship, significance Benchmarking Behavioural implications of setting standard costs (Note Standard process costing is not included) Planning what-if analysis Fixed and Flexible budgeting Rolling budgets Activity - based budgeting Behavioural implications

Budgeting Time series and regression Controllable and uncontrollable costs Incremental budgeting Zero-based budgeting Balanced scorecard

7.

Costing Systems and Decision Making Value and functional cost analysis Resource planning systems : MRPL, MRPII and ERP Just in time Activity based, absorption, marginal and process (Eg. FIFO and Average Variable Cost Approach AVCO) costing and throughput Accounting. Cost reduction programmes Total Quality Management Multi-products CVP analysis including breakeven, margin of safety, contribution/sales ratio, break even charts, contributionprofit/volume graphs Relevant costs and revenues for short term decision making Single limiting factor analysis where a company has restricted freedom of action Graphical Linear programming (including an explanation of shadow prices)

116

Recommended books for Semester III and IV


1. 1. 2. 3. 2. 1. 3. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 4. 1. 2. 3. 4. 5. 6. 5. 1. 2. 3. 4. 5. 6. 1. 2. 3. 7. 1. 2. 3. 4. Customer Relationship Management in Banking & Insurance CRM at the Speed of Light. By Paul Greenberg - (Tata McGrew-Hill) CRM bv-Jagdish N Shet, Atul Parvatiya G. Shainesh (Tata McGrew-Hill) IT in Banking and Insurance Jardin C.A.Java Servlet programming -O'Reily Publications 1998 ORGANIZATIONAL BEHAVIOUR Organizational behaviour - Stephen P. Robbin. Prentice- Hall of India Pvt. Ltd. Organizational behaviour-John W.Newstorm & Keith Davis-Tata-McGraw-Hill, Ltd. Organizational behaviour - Edited by Mirza S. Saiyadain - Tata Mc Graw - Hill Management & Organization -LouisAAllen Management Challenges for 21st Century - Peter Druckar Principles & Practice of Management - L.M. Prasad-(S. Chand & Sons.) Principles of Management in Banking - Hiramat Shridhar The Process of Management - William H. & Newman Organizational Behaviour - N. Ramswami - T. R. Publications Organizational Behaviour-.-Understandings managing People at work, white & Bednar Boston. Allyn Bacon. 1986 Personnel Management in India : The Practical Approach to Human Relations I I P M Asia publishing House 1977. TAXATION OF FINANCIAL SERVICES Direct Taxes Law & Practice - V.K. Singhania Direct Taxes Laws-T.N.Manoharan Professional Approach Direct Taxes -Ahuja S Gupta Service Tax -V. S. Datey Direct Taxes Law S. Practice -Dinkar Pagare. Service Tax - Sanjeev Agarwal S Parthsarthy. UNIVERSAL BANKING Saunders, Anthony, S. Walker, Ing - Universal Banking : Financial Systems Design Reconsiderations; Chicago - lrwin 1996. Shastri R. V. - Insurance in Universal Banking Paradigm, "Cambank Bimonthly Review", 2003. Vasudev C. M. - Universal Banking in India, "Banking Finance", Dec. 2002. Consolidation and Universal Banking - Journal of Banking and Finance, Feb 1999. Reddy Y. V.-Monetary & Financial Sector Reforms in India-Chapter 11 pp 142-158, New Delhi - UBSPD 2002, Universal Banking & Beyond INNOVATION IN BANKING AND INSURANCE Bhatt V. V. - Financial Systems: Innovation & Development, New Delhi - Sage 1995 part I and II Periasamy P. - Principles & Practice of Insurance, Mumbai, Himalaya Pub. 2003, Part I and II Bodia, Others - Insurance: Fundamentals, Environment & Procedures, New Delhi, Deep & Deep Publishers 2003 - Part I and II. CORPORATE LAWS & LAWS GOVERNING CAPITAL MARKETS A. Ramaiya, Guide to Companies Act. Taxman, Corporate Laws G. K. Kapoor, Corporate Laws S. Srikant - First Lesson on Corporate Laws & Secretarial Practice. 117

8. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10.

ENTREPRENEURSHIP MANAGEMENT Entrepreneurship - Robert D. Hisrich & Michael P. Peters - Tata Mc Graw Hill New Delhi Entrepreneurship Development-Indo German Technical Co-operation Project (Bhopal) Tata Mc Graw Hill-New Delhi Developing New Entrepreneurs - Entrepreneurship Development Institute of India, Ahmedabad Manual on Developing Entrepreneur Motivation - National Institute for Entrepreneurship and Small Business Development-New Delhi Entrepreneurship Development - Principles, Policies & Programmes, Sara Navel P. Ess Peekay Pub. House. Sarma S. V. S.- Developing Entrepreneurship - National Institute of small Industry Extension Training, Hyderabad Ram K. Vepa - Sage Publication, New Delhi - Modern Small Industry in India, Problems & Prospectus Suri K. B. - Sage Publication New Delhi - Small Scale Entrepreneurs on Industrial Development Taub P. T., Richard Taub and L. Doris - Manohar Publications - New Delhi, Entrepreneurship in India's small scale Industries R. D. Harish & C. G. Brush - The Woman Entrepreneur : Starting Financing & Managing a successful New Business.

118

Third Year B. Com. Banking & Insurance


THIRD YEAR SEMESTER V
5.1 5.2 5.3 5.4 5.5 5.6 Marketing in Banking and Insurance Financial Services Management International Banking and Finance Financial Reporting & Analysis Security Analysis and Portfolio Management Auditing

MARKETING IN BANKING AND INSURANCE


Module 5.1
1. Introduction : Definition Marketing - Difference between sales and marketing Types of marketing - a) Industrial Marketing b) Services Marketing c) Consumer Goods Marketing, Marketing Mix (4 Ps of marketing mix) Introduction to Services Marketing : Definition and Classification - Characteristics of Services Categories of Services - Services marketing mix - Introduction to Banking and Insurance as services. Services Marketing Mix with reference to Banking & Insurance 7 Ps of Service marketing mix. Importance of marketing mix elements. Strategies for effective management of services marketing mix elements. Banking and Insurance as products. Services marketing mix strategies for Banking & Insurance Customer in Services Marketing Buying behaviours - Buying roles and Importance of Place with regards to services. Managing Service Quality : Service quality model (Caps model) - Managing service gaps Advertising and Branding of services (Managing Integrated Marketing Communication) Identifying target audience. Determining communication objectives. Factors in setting marketing communication mix. Managing product support Post sales services strategies and Major trends in customer service Managing Direct and on-line marketing Growth and benefits of Direct Marketing. Major Channels of Direct MarketingMarketing in 21st Century to commerce

2. 3.

4. 5. 6.

7. 8.

119

FINANCIAL SERVICES MANAGEMENT


Module 5.2
1. Meaning - Classification - Scope-Fund based activities - Non Fund based activities - Modem activities - Sources of revenue - causes for financial Innovation New Financial Products and services Innovative Financial Instruments-Challenges Facing the Financial Service sector Saving Mobilisation Merchant Banking : Definition - Origin - Merchant Banking in India - Merchant Banks and Commercial Banks - Services of Merchant Banks - Qualities required of Merchant Bankers in the market making process-Progress of Merchant Banking in India-Problems-Scope of Merchant Banking in India. Hire Purchase : Features & Legal Position - Hire Purchase and Credit Sale - Hire Purchase and Installment Sale - Hire purchase and leasing - Origin and Development - Banks and Hire Purchase Business-Bank Credit for Hire Purchase. Leasing : Definition - Steps in Leasing Transactions -Types of Lease - Financial Lease - Operating Lease - Leverage Lease - Sales and Lease Bank - Cross Border Lease - Installment Buying Advantages and disadvantages of lease History and development - Legal aspects-Accounting Treatment of Lease - Structure of Leasing Industry - Problems - Prospects. Venture Capital : Concept - Meaning - Features - Scope of Venture Capital - Importance -Origin - Initiative in India - Venture Capital Guidelines - Method of Venture Financing - Indian Scenario Suggestion for the growth of Venture Capital. Mutual Funds : Introduction - Meaning - Fund Unit v/s Share - Origin of the Fund - Types / Classification of Funds - Importance of Mutual Funds - Risk - Organisation of the Fund - Operation of the FundFacilities available to investors - Net Asset Value - Investor Rights - General Guidelines - Mutual Funds 2000 - Violations of Guidelines - Selection of a Fund - Commercial Banks and Mutual Funds Mutual Funds abroad - Mutual Funds in India - Reason for slow Growth - Future of Mutual Funds Industry Discounting Factoring and Forfeiting : Introduction - Discounting - Factoring - Meaning -Modus Operandi - Terms and Conditions - Functions - Types of Factoring - Factoring v/s Discounting Cost of Factoring - benefits - Factoring in India - International Factoring - Definition - Types of Expert Factoring - Factoring in other Countries - Edit Factoring - Factoring - Definition - Factoring v/ s Forfeiting - Working of Forfeiting - Cost of Forfeiting - Benefits of Forfeiting - Drawbacks - Forfeiting in India. Securitisation of Debt : What is Securitisation ? Definition - Securitisation v/s Factoring -Modus Operandi - Role of Merchant Bankers - Role of other Parties - Structure for securitization Securitisable Asset - Benefits of securitisation - Conditions for Successful securitisation Securitisation abroad - Securitisation in India Reasons for the unpopularity of securitisation -Future prospects of Securitisation. Derivatives : Meaning - definition - kinds of Financial Derivatives - Forwards - Features of Forwards - Financial Forwards - Futures - Features of Futures - Types of Futures - Commodity Futures - Financial Futures - Forwards v/s Futures - Advantages of Forwards and Futures - Options - Features of Option - Share Option - Currency Option - Benefits - Swap - Features of Swap - Kinds of Swap-Advantages-Importance of derivatives-Inhibiting Factors-Derivatives in India. Credit Rating : Definition and Meaning - Functions of Credit Rating - Origin - Credit Rating in India - Benefits of Credit Rating- Credit Rating agencies in India. CRISIL - IICRA - CARE -Limitations of Rating - Future of Credit Rating in India. 120

2.

3.

4.

5.

6.

7.

8.

9.

10.

11.

Credit Cards: What is a Credit Cards?- Who can be Member - Types of Credit Cards - New types of Credit Cards - Parties to Credit Card - Procedure at the time of Purchase - Procedure for Reimbursement - Facilities offered to Card Holders - Benefits - Demerits - Credit Card Business in India - Future Prospects.

INTERNATIONAL BANKING AND FINANCE


Module 5.3
1. 2. 3. Evolution of international banking International banking: functional overview- banking for financing of exports and imports of goods and services. International payments system. International capital markets - financial market flows beyond national boundaries, debt and nondebt flows; volatile and stable flows; interest rate differentials and their role in demand for and supply of funds across borders. Offshore banking centers and their role in international financing. Global balance sheet of banks. Asset and liability management of foreign banks. International lending, Policies and practices, Transaction cost and risks in international lending. Profitability of international banking. Loans to foreign corporations, syndicated loans; financing foreign governments. Issues of information symmetries and adverse selection. Regulatory and supervisory aspects. Trends in international banking in India. Foreign exchange risks; the exchange rate swings and their effects on banks' net worth. Perceptions of international rating agencies. Country risk. International financial stability and the central role of banks in financial stability. Issues relating to international financial architecture.

4. 5.

6. 7. 8.

FINANCIAL REPORTING & ANALYSIS


Module 5.4
A. Preparation & Presentation of Corporate final Accounts and Reports for Trading, Manufacturing and other companies in accordance with Companies Act, 1995 (as amended from time to time) and for Banks in accordance with banking regulations and for Insurance Companies in accordance with Insurance Legislation. Study of Accounting Standards prescribed by the Institute of Chartered Accountants of India relevant for compilation of above accounts. Study of Accounting Policies from annual reports of listed companies, banks, and insurance companies.

B. C.

121

D.

I) II)

Study of Disclosures by way of notes from annual reports of listed companies, branches and insurance companies Analysis and interpretation of the contents of annual reports of companies covering the following: a) Chairman's Statement. b) Director Report & Annexure c) Management Discussion & Analysis d) Corporate Governance Disclosures e) Compliance Certificate in Corporate Governance Auditors Report f) Annexure to Auditors Report including CARO Balance Sheet g) Profit & Loss Account h) Schedules forming part of the Accounts i) Statement u/s 212 of the Companies ct, 1956 j) Balance Sheet Abstract.

E.

Financial Analysis and Interpretation of final Accounts using tools of financial management and investment analysis like ratio analysis, funds flow, cash flows, and common size statements.

SECURITY ANALYSIS AND PORTFOLIO MANAGEMENT


Module 5.5
1. An Overview. 1.1 Investment Alternatives 1.2 Investment Attributes 1.3 How does Various Investment Avenues Compare? 1.4 Investment versus Speculation 1.5 Financial Markets 1.6 Portfolio Management Process 1.7 Sources of Investment Risk 1.8 Approaches to Investment Decision making. Investment Alternatives: 2.1 Non-Marketable Financial Assets 2.3 Bonds or Fixed Income Securities 2.5 Mutual Fund Schemes 2.7 Real Estate Securities Market: 3.1 Primary Equity Market 3.3 NSE and BSE 3.5 Stock Market Quotations and Stock Market indices 3.7 Stock Market Abroad 3.9 Corporate Debt Market 2.2 2.4 2.6 2.8 3.2 3.4 3.6 Money Market Instruments Equity Shares Life Insurance Precious Objects. Secondary Market and its Operations Buying and Selling Shares SEBI and Future Challenges

2.

3.

3.8 Government Securities Market 3.10 Money Market

4.

Risk and Return: 4.1 Measuring Historical Return 4.2 Measuring Historical Risk 4.3 Measuring Expected (Ex Ante) Return & Risk The Time Value of Money : 5.1 Time Lines and Notation 5.3 Present Value of a Single Amount 5.2 5.4 122 Future Value of a Single Amount Future Value of an Annuity

5.

5.5 6.

Present Value of an Annuity

5.6

Intra-Year Compounding and Discounting

Financial Statement Analysis: 6.1 Financial Statement 6.2 Financial Ratio 6.3 Comparative Analysis 6.4 Du Pont Analysis 6.5 Applications of Financial Statement 6.6 Problems in Financial Statement Analysis Analysis 6.7 Guidelines for Financial Statement Analysis Portfolio Theory: 7.1 Portfolio Return 7.3 Portfolio Diversification 7.5 The Single Index Model 7.2 7.4 Portfolio Risk Optimal Portfolio

7.

8.

Capital Asset Pricing Model: 8.1 Basic Assumptions 8.2 Capital Market Line 8.3 Security Market Line 8.4 Inputs Required for Applying CAPM 8.5 Empirical Evidence on Capital Asset Pricing Model Efficient Market Hypothesis: 9.1 Random Walk and Search for Theory 9.2 9.3 Empirical Evidence on Weak Form 9.4 Efficient Market Hypothesis 9.5 Empirical Evidence on the Strong-form9.6 Efficient Market Hypothesis 9.7 What is the Verdict? 9.8 Analysis and valuation of Debt : 10.1 Types &Features of Debt Instruments 10.3 Bond Yields 10.5 Interest Rate Risk 10.7 The Yield Curve 10.9 Analysis of Convertible Bonds Equity Valuation: 11.1 Balance Sheet Valuation 11.3 Earnings Multiplier Approach Return and Growth 11.5 Equity Portfolio Management Fundamental Analysis: 12.1 Macroeconomic Analysis 12.3 Company Analysis: The Study of Financials 12.5 Estimation of Intrinsic Value Technical Analysis: 13.1 What is Technical Analysis? 13.3 Technical Indicators 13.5 Evaluation of Technical Analysis 10.2 10.4 10.6 10.8 10.10 What is an Efficient Market? Empirical Evidence on Semi-Strong form Efficient Market Hypothesis An Alternative Paradigm Implications for Investment Analysis Bond Pricing Risk in Debt Rating of Debt Securities Determinants of Interest Rates Bond Portfolio Management

9.

10.

11.

11.2 Dividend Discount Model 11.4 Earnings-Price Ratio, Expected

12.

12.2 Industry Analysis 12.4 Company Analysis: Going Beyond Numbers 12.6 Some Tools for Judging Undervaluation of overvaluation. 13.2 Charting Techniques 13.4 Testing Technical Trading Rules

13.

123

14.

Options: 14.1 How Options Work 14.3 Option Strategies 14.5 Binomial Model for Option Values 14.7 Equity Options in India.

14.2 Options and Their Payoffs Just Before Expiration 14.4 Factors Determining Option Values 14.6 Black and Scholes Model

15.

Futures: 15.1 Features of a Futures Contract 15.3 Equity Futures in India 15.5 Use of Futures Contracts

15.2 Futures Contracts: The Global Scene 15.4 Pricing of Future Contracts

16.

Port Folio Management Framework 16.1 Specification of Investment objectives & constraints 16.3 Formulation of Port Folio strategy 16.5 Portfolio Execution 16.7 Performance Evaluation

16.2 Selection of Asset Mix 16.4 Selection of Securities 16.6 Portfolio Revision

AUDITING
Module 5.6
A. B. C. D. E. F. G. H. Introduction to different types of audits including higher forms of audits. Viz Internal Audit, External (Statutory)Audit, Financial Statement Audit, Cost Audit, Due Diligence Audit. Management Audit, Proprietary Audit, Environment Audit Social Audit and Auditing in a computerized environment. Financial Statement Audit of Corporate Banks and Insurance Companies, including there in the planning of audit, the execution of audit and the reporting of audit results-clear report, qualified reports and disclaimer of opinion Study of auditing standards prescribed by the. Institute of Chartered Accounts of India. Study of qualifications, observations and remarks in auditor's reports of listed companies, banks and insurance companies. Role of Regulatory authorities like Department of Company Affairs, SEBI, RBI, IRDA and Comptroller & Auditor General of India. Study of portfolio of an auditor-independence, professionalism, professional competencies. Responsibilities, rights, duties and liabilities of an auditor. Role of ethics and regulation in auditing profession-provisions relating to appointment removal and misconduct of an auditor. Role of auditor vis-a-vis audit committees and corporate governance Principles.

124

THIRD YEAR Semester VI


6.1 6.2 6.3 6.4 6.5 6.6 Strategic Management Central Banking International Business Human Resource Management -Banking & Insurance Business Ethics & Corporate Governance Turnaround Management

STRATEGIC MANAGEMENT
Module 6.1
(A) An overview of Strategic Management, Levels of Strategic Management, Organizational Strategists, strategic management, Process Environmental considerations, context of strategic management, formulating & implementing strategy. The Dynamic Nature of the Model. The Environment of strategic Management. 1) The Social facet: Ethics, Social responsibility of Business, (Traditional view versus Emerging Trends & issues) the social contract of Business. 2) The Political Facet : Govt. & Business, Govts Role (Historic Role Vs Emerging Role). Cost and implications of Govt. intervention. Recent Trends. 3) The Technological facet: Issues in Technology and Solutions. Impact of Technology on Business. 4) The Economic facet: A conduit for social, political and Technological forces,. Role of competition. National and Global Trends. Strategy Formulation 1) Mission, vision and Goals, Environmental Scanning, Organizational Assessment using Organizational and Environment Information, Objective Setting. Strategy Setting. 2) Tools of corporate level Strategic management. The Boston Consulting Group matrix. The GE Planning Grid, The Life Cycle concept. The Mckinsey 7-S Framework. 3) Strategies: Integration, Diversification, Disinvestment, Downsizing. Activating Strategies 1) Organizational Structure, Does structure. Drive strategy or strategy drive structure. Different organizational structures for different strategies. 2) Resource Mobilization Viz. Money, Markets, Machine, Material, Men. (Human Resources) 3) Leadership and Motivation as Key drivers of Strategy. 4) Role of creativity and innovation. 5) Evaluation and control of strategies. Standards, Bench marking. Benefit Cost Analysis of Options, Performance gap Analysis, Responsibility centers, ROI, Budgeting.

(B)

(C)

(D)

CENTRAL BANKING
Module 6.2
1. Why Central Banks? An overview of the functions of Central banks; Objectives of Central banks.RBI - Role functions and organizational structure. 125

2. 3. 4. 5. 6.

Instruments of Central Banking Policy- Bank Rate, cash Reserve Ratio (CRR), open Marketoperations, selective credit control etc. Their working & efficacy in the India context. RBI and rural credit, industrial Finance. RBI and non-banking financial companies. Regulation & supervision. Financial sector reform and the role of the RBI. Credit creation and money supply determination process, reserve money and money supply; the sources and uses of money supply. The conduct of Central banking in open and market-oriented economies. Uncertainties and risks in integrated financial systems; the new orientations in traditional functions; the changing face of monetary policy management in open and market oriented economics; transmission mechanism of monetary policy. Issues of financial stability and autonomy and independence of Central banks.

7.

INTERNATIONAL BUSINESS
Module 6.3
What is International Business? Growing importance of International Business. Difference between Domestic and International Business. International Business In The 21st Century. The Global Business Environment- The role of History Analyzing the environmental factors for international business. Importance of the Economic and Political environment in the process of intemationalizatlon International Business Environment & India. The Impact of Technology. Foreign Direct Investment. International Trade and Foreign Direct Investment: UNCTAD World Investment Report 2000-2001. Growth of FDI post World War II, changes in patterns of World Trade and production. Protectionism, Discuss and Evaluate arguments for and against it. Impact of FDI on distribution of wealth. Legal Aspects of International Business. Legal environment for international business. Importance of intellectual property rights and patents. Importance of the regulatory mechanisms in Europe, USA and other major countries concerning imports. Importance of laws relating to product packaging, labeling etc. WTO - Legal Implications and anti dumping. Economic Integration. Theory comparative advantage and its importance to international business. Role of organizations like the IMF, World Bank, WTO etc. Role of regional trade groups and market agreements. International Strategy Globalization of an existing business. Business expansion strategies. Studying the competitiveness for globalization Studying the country and company competitiveness. Market research and data collection. 126

International Marketing. International Markets selection for an existing business. Dynamics of product and market selection. Systematic selection of international markets-industry and company sales potential estimationand making of an international business plan. Segmentation of international markets and consumers selection. Analyzing international competition in each market and designing of the winning internationalmarketing strategies. Transnational Corporations. Emergence of Multinational & Transnational Corporations. Role of Transnational Corporations. Multi-location manufacturing. The process of building of an MNC. International Human Resource Management Business ethics and Values-Corruption. Enron Case Study. Importance of Relationships marketing for creating competitive advantage in the internationalbusiness. International HRM Strategy. Conflicts between Corporate and National Pressures. International Managers-Problems faced in recruiting and retaining such managers. Impact of Religion and Culture. Labour markets / skills and training International Financial Markets. Growth of Financial Markets-London, New York, Tokyo. Deregulation of markets & emerging markets - financial hubs. Disintermediation of markets due to deregulation and technology. Integration of markets e.g. Euro, NAFTA, SAARC, ASEAN, etc. Cross borderAlliances. Export Finance And Risk Management. Export / Import Finance in India. Major variables in the financial environment for international business. Currency risks and how to formulate safe international marketing strategies. Foreign Exchange Risk Management. Types of contracts in international business-Terms of payment. Letters of Credit and their importance in the international business. Financial risks in the international transactions and how to avoid them. Role of ECGC and EXIM Bank. Import / Export documentation in India. Business Risks and the Importance of proper documentation in international business. International Business Environment in India Imports related environment in India and other countries. Role of RBI, Customs, DGFT etc. Export related policies in India and other countries. Export benefits in the Indian environment and the likely future scenario. Special Economics Zones. Impact of export benefits on production pricing. Export pricing in India-A case study. Balance of Payments. Trade and InvestmentTheories. Importance of Balance of Payments. Different Exchange Rate mechanisms-implications. Implications of full convertibility. IMF, World Bank-Their role and implications for International Business.

127

HUMAN RESOURCE MANAGEMENT -BANKING & INSURANCE


Module 6.4
1) Human Resource Management-Nature, Scope & objectives- Organization of Human ResourceDepartment-Functions of Human Resource Management-Human Resource ManagerRole and Functions of Human Resource Manager in Banking & Insurance Sectors-Human Resource Planning - Human Resource Development. Personnel Policies-Personnel policies in Banking & Insurance sectors-Job Analysis & DesignRecruitment & Selection-Orientation & Placement - Training & Development-Performance Appraisal & Job Evaluation- Remuneration & Incentives- Promotions & Transfers-Motivation- Comparative study of service conditions in Financial Institutions, Insurance cos., Industries & Government / Semi-Government Sectors. Participative Management-Employee Communication-Employee Welfare-Employee safety & HealthIndustrial Relations-Ethics & Human Resource Management-Human Resource Audit. Human Resource Management in Banks & Financial Institutions-Personnel policies in Scheduled Banks, Commercial Banks-Co-Operative Banks & otherfinancial Institutions like UTI, ICICI, HDFC etc. Customer Relationship Management in Banking & Financial Institutions. Human Resource Management in Insurance Sector-Personnel Policies in LIC, G. I. Corporation & other Insurance-Cos-Customer Relationship Management in Insurance Sector. Corruption, Frauds, Seams in Financial Institutions -Their effects on Investors, shareholders & the Society-The role of vigilance department in controlling corruption and frauds-Disciplinary actions Case studies.

2)

3) 4)

5) 6) 7)

BUSINESS ETHICS & CORPORATE GOVERNANCE


Module 6.5
1. 2. Business Ethics & Values-Work Culture - Un ethical Behavior in Business & its reasons-fair & unfair Business Practices. Corporate Governance in Globalized Economy MNCs / TNCs & Business Ethics Accountabilityof Managers & Directors-Functioning of private & public sector Cos. Governance of private & public sector Cos. Corporate Governance in Banking & Financial Institutions-Good corporate Governanceprotection of interest of customers & investors-customer friendly business activities. Code of conduct in Business Houses-fairness & Justice in Administration - Social Responsibilities of Business. Business Ethics an important tool in building Business Reputation- Professional Board of DirectorsTransparency in decision-making & operations-importance of effective & efficient system of Governance in globalised economy-Ethics & corporate integrity, measure for improving ethical standards & morals. Corruption, Frauds & Seams in financial Institutions- Economical & Social effects of corruption, frauds, seams etc.-Banking operations & ethics- Functioning of Insurance Cos.& ethics-Measures to reduce corruption a) Preventive Measures b) Curative Measures-Role of computerization & I.T. in detecting fraud, scams etc. Zero Tolerance of corruption. M. R. T. P. Act -M. R. T. P. Commission 128

3. 4.

5.

6.

TURNAROUND MANAGEMENT
Module 6.6
1. 2. Introduction : Definition of Turnaround - Reasons that lead to turnaround - Effects of competition Industrial sickness - Turnaround package Organization and Management concepts Todays Business Organization Survival & Growth Strategies Business World in Transition 21st Century Organization and its Business Strategies for 21st Century. The Nature, Significance, of Business Process Reengineering. Introduction to Business Process Core Business Processes Need for Process Redesign Underlying Premises of BPR Redesign of Business Processes Generic Business Processes to be redesigned Context and Considerations for Process Redesign The Central Thrust of BPR and A Critical Appraisal of BPR. Implementation of BPR Requirements for BPR Implementation Principles of Reengineering Use of Consultants in BPR Reengineering Team Activity Mapping for BPR and Bench marking for BPR. Problems, Issues, Scope, and Trends in BPR Problems, & Issues in Implementing BPR From Business Process Redesign to Business System Redesign Developmental Trends in BPR Appraisal of BPR Ensuring the results of BPR- Outcome and Achievement of Reengineering Performance measures of successful BPR Points of caution in BPR - Redesigning the ORGANISATION Managing Change in Indian Context. Implications of Turnaround Effect of liberalization BPR in Indian Context- Examples of BPR companies in India (case study)

3.

4.

5.

6.

7.

129

Recommended books for Semester III and IV


1. 1. 2. 3. 4. 5. 6. 7. 2. 1. 2. 3. 4. 5. 3. 1) 2) 3) 4) 5) 6) 7) 8) 4. 1. 2. 3. 4. 5. 6. 7. 5. 1) 2) 3) 4) 5) 6) 7) 8) 9) 10) 11) 6. 1. 2. 3. 4. MARKETING IN BANKING AND INSURANCE Marketing Management - Philip Kotler Services Marketing - Valarie A. Zeithmal Services Marketing - S. M. Jha Services Sector Management - R. S. Masearnnas The Essence of Service Marketing - Adrian Payne - Prentice Hall "Marketing in the New Millennium - M. J. Xavier - Vikas Publishing House "Principles of Marketing" - Philip Kotler INTERNATIONAL BANKING AND FINANCE Sharma R. D. - International Banking; Contemporary Issues, New Delhi. Himalaya Pub. 1992 Apte P.G. - International Finance: A Business Perspective. New Delhi. Tata McCrow-Hill.2003 Verma, B.P. - International Finance: Theory and Practice, Mumbai, Allied Publishers, 2002 Sharma V. - International Financial Management, New Delhi, Prentice-hall of India - 2000 Seth A.K. - International Financial Management, New Delhi, Galgotia, 2000. STRATEGIC MANAGEMENT Strategic Management by G. A. Cole Strategic Management -by R. A. Sharma. In Indian Cos. Strategic Management and Business Policy by T. L. Wheelers & J. D. Hunger Strategic Management by Hunger and Wheelers. Fundamentals of strategic Management -Fred R. David. Strategic Management-Fred R. David. Organizational strategy & Policy -Frank T. Paine & William Naumes Strategic Management - Francis Cherunilam, Himalaya Publishing House CENTRAL BANKING Decock, M.H.-Central Banking, 4th Edition, New Delhi. UBSPO, 1997 Nigam, B.M.-Banking in India in Eighties, New Delhi Documentation Centre. 1986 Blinder, A.S. -Central Banking in Theory and Practice, Cambridge, MIT Press, 1998 Seshadri R. K.-The art of Central Banking and Essays, Bombay, Bankers Training College. RBI, 1989 Avadhani V. A. - Theory and practice of Central Banking in India: Edn. Rev. & Updated Edn.l985 Desai. Vasant - Money and Central Banking, Bombay, Himalaya Pub. House, 1957 Kapila, R. & Kapila K. - India's Banking and Financial Sector in the New Millennium Chapters, 3,4, 6,Central Banking, Ghaziabad, Academic Foundation. 2001 HUMAN RESOURCE MANAGEMENT -BANKING & INSURANCE Scientific Management-Taylor F. Harper & Brothers, New York, 1911. Principles & Practice of Management-Terry C. R. Homewood, III, Richard lrwin, 1960 Principles and Practice of Management - L. M. Prasad, S. Chand & Sons. Management Challenges for 21" Century-Peter Drucker. H.R. & Personnel Management-K-Aswathappa, Tata McGraw Hill. Man Power Planning in Banks-Pandey R.K., Deep & Deep, New Delhi-1992. Principles of Management in Banking-Hiramat Sridhar. Finance Institutions & Market structure, Growth & Innovations-Tala McGraw Hill, NewYork(BholeL.M.) Indian Financial Systems-Bhole L. M. Chugh Publications, Allahabad (2000) Human Resource Management-M.S.Saiyadain-Tata McGraw Hill. Personnel: The Management of Human Resource-Robbins, Stephens, Prentice Hall of India TURNAROUND MANAGEMENT Redesigning the Business Process by Waman S. Jawdekar Business Process Re-Engineering: Myth & reality by Colin Coulson Thomas Reengineering and Reinventing the enterprise by P. N. Rastogi Practical Business Re-Engineering by Nick Obolensky. 130