Public Finance Institutions in India- a Brief Discussion

The footnotes described the interest rates that wereissued and also that “All bank loans outstanding at December 15, 2005 were paid in 2006”, which can be found under Note 3 – Bank Loan and Industrial Development Bonds.

. The CBE is located in the Ethiopian capital Addis Ababa, which is the center for business in the country. The bank was established in 1963 and is the first bank after Ethiopia’s victory over fascist Italy in

Banking branches in London, New York, Tokyo, Hong Kong, Shanghai, Beijing, Singapore, Auckland, Ho Chi Minh City and Mumbai

25 crores and above, may finance the equipment leasing/hire purchase companies, subject to the following limits:

EAI (1942) IEA formed in 1912 promoted big engineering firms, which were mainly British firms. Thus the sole purpose of establishing such an institution was defeated. Thus to bring to the forefront the interests of the Indian firms, a different body known as EAI (Engineering Association of India) was set up in 1942. EAI also included small and medium Indian firms, which was the foundation pillar of present

The United States of America’s financial system comprises of the banking system, financial markets and nonbank financial institutions. (Lee, 2001) Banking system furthermore consists of the Federal Reserve System, foreign banks, commercial banks, offshore banks, credit unions and saving institutions. Financial markets consist of debt and money markets, equities markets and futures and options markets. Lastly, nonbank financial institutions consist of asset-based finance companies, commercial lending companies and insurance companies. This paper is an endeavor to understand the workings and structure of the Federal Reserve Banks of USA.

These banks should ideally be divested of any sort of commercial interest, and must act in the best interest of its nation’s economic stability. A lot of meaning is carried out in being identified as ‘independent’ authority, where the bank possess powers to take its own decisions, approve its own legislature, follow its own policies and offer stability to the nation’s economy.

After the end of World War-II there was great need for speedy industrial expansion in the whole world. Both winners and losers had to resurrect and to rebuild their economies from the ruins of war. Development Financial Institurions (DFI) were set up in almost all the countries of the world and the models were suited to their economic, social and cultural values.

The company was incorporated at Mumbai as a private limited company, with the Registrar of Companies, Maharashtra, under the Companies Act, 1956 as Bhaumik Ago Products Private Limited pursuant to a Certificate

• Established in 1927 in city of Mumbai, under the name “The New Club Ltd.”

It is the front runner among the Indian private sector banks with a market capitalisation of approximately 2 trillion (largest by Mcap)

Next the prohibition of directors is gives loans and securities for loans granted to its director and directors of its related companies. For your information, eventhough Company’s article of association may given power to its board of director to lend money, but it may contrary to section 133(1) of companies act 1965 that said “ a company that other than private company shall not make a loan to a director of the company or of a company which by virtue of section 6 is deemed to be related to that company, or enter into any guarantee or provide any security in connection with a loan made to such director by any other person. So, these sections are prohibiting company giving loans or collateral for loans to the directors and also directors that related companies. A related company means the company holding company, subsidiary, or subsidiary of its holding company.

Apart from the reasons mentioned, the money market as well as capital market witnessed the presence of private moneylenders, landlords etc. They have acted as bankers for centuries and have amassed major wealth from people of India that adversely affected capital formation. The need for a better financial institution and credit infrastructure was thus felt necessary by the planning commission when the five-year plans were initiated.

Citibank first established business operations in Singapore on 1 July, 1902 and was known as the International Banking Corporation (IBC) (Citibank, 2012). The company now represents the largest banking institution in Singapore with over eight thousand employees. Outside of Singapore, Citibank is the primary leader in banking in the entire Asia Pacific region. Due to the long history of Citi in Singapore and the surrounding region, the company is deeply embedded in Singapore's financial services sector (Citi, 2012). The Singapore location is also one of Citi's international sites that host processing hubs and data centers that support businesses in over forty countries around the world.

This Draft Technical paper does not necessarily reflect the views of Reserve Bank of India