Finance articles section focuses on various concepts of finance like budget, stock market and economics of various products & services. Apart from these articles on global financial institutions, different banking systems and topics of international importance in the field of finance are present.
Bankruptcy Code in the Indian Financial System
02 February 2017
Recently the government has passed a historic bill: Insolvency and Bankruptcy Code (IBC) to amend and consolidate existing law on bankruptcy, and to create a unified legal framework. Before discussing the details of IBC and analysing its impact, first we must examine the current scenario of NPA across banks and the different loan recovery processes, in order to build the ground for the bankruptcy code.
Plastic Money- From ‘Less-Cash’ to ‘Cashless’ Economy
10 January 2017
Plastic money signifies hard plastic cards that are used to facilitate cash-less transactions, without requirement of physical paper currency. In India, banking sector has kept pace with the advent of Liberalization, Privatization and Globalization and has seen many technological advances in the form of innovative products and methods like plastic cards, mobile banking and internet banking. Plastic cards have become a key element of electronic banking. Through plastic money, the barter system which uses money as medium of exchange has been redefined and exchange can be done electronically without requirement of hard currency. Some of the important variants of plastic cards include ATM cards, debit cards, credit cards and other smart cards.
Economic Reforms in India- History and Trends
04 January 2017
The year 1991 will be recalled as a watershed in the economic history of India when major economic reforms were introduced. The liberalization, privatization and globalization (LPG) were the three pedestals of reforms. The motive of liberalization was to liberate the economy from the shackles of licence-raj which was putting a drag on the potential of economic growth. Before 1991, the government had apparently limitless control over every factor of economic activity. Privatization called for the disinvestment of the loss making public sector enterprises which were a burden on exchequer.
Demonetization-A Historical Step for India’s Economy
08 December 2016
The initiative of demonetization taken by the Prime Minister of India Shri Narendra Modi on 8 November 2016 is a historical step in the history of India’s economy. Demonetization is a process in which the currency which is in circulation in the economy seizes to exist i.e the currency is no longer a legal tender. This is done to bring new currency in circulation by replacing the old currency. The policy to issue currency in the economy is regulated by Reserve Bank of India under Reserve Bank of India Act, 1934.
Global Monetary System- Evolution and Policies
01 December 2016
In the global scenario, there is no country which is independent or which does not affect the economy of the other countries or which is not affected by the economies of other countries. This fact makes it imperative that there should be an effective global monetary system. The global monetary system is designed with mutual consensus of the countries to promote free international transactions. The main task of the global monetary system is to provide adequate liquidity, smooth and transparent adjustment of global transaction and to build confidence in the monetary system.
Govt of India Bans Rs500 & Rs1000 Notes to Fight Black Money - Impact and Analysis
09 November 2016
The Govt of India has banned the use of currency notes of Rs500 and Rs1000 denomination with immediate effect from midnight 9th November 2016. This is seen as a strong move by the Govt in order to curb the use of black money, which has been an issue since a very long time in India.
SMEs and their Contribution to Indian Economy
01 November 2016
Medium Small and Micro Enterprises (SMEs) have dependably been the foundation of an economy when all is said in done and optional division specifically. For a capital rare creating nation like India, SMEs are considered as panacea for a few financial burdens like unemployment, neediness, pay disparities and territorial awkward nature.