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UCSP, 07 Handout 1 > Non-state Institutions > Flashcards

Non-state Institutions Flashcards

1
Q

institutions that conduct business purely on profit motive

A

Banks

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2
Q

These are also known as banking functions.

A

Primary Functions

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3
Q

The bank collects deposits from the public

A

Accepting Deposits

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4
Q

This encourages saving habit among the public. The rate of interest is low. At present, it is about 5% per annum.

A

Savings

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5
Q

Lump sum amount is deposited at one (1) time for a specific period. Higher rate of interest is paid, which varies with the period of deposit.

A

Fixed

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6
Q

This type of account is operated by businessmen. Withdrawals are freely allowed. No interest is paid. In fact, there are service charges

A

Current

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7
Q

This type of account is operated by salaried persons and petty traders. A certain sum of money is periodically deposited into the bank.

A

Recurring

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8
Q

Bank advances loans to the business community and
other members of the public. The rate charged is higher than what it pays on deposits

A

Granting of Loans and Advances

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9
Q

These advances are given to current account holders. No separate account is maintained

A

Overdraft

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10
Q

The client is allowed cash credit up to a specific limit fixed in advance.
It can be given to current account holders as well as to others who do not have an account with bank

A

Cash Credits

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11
Q

It is normally for short term (a period of one [1] year) or medium term (a period of five [5] years). These days, banks do lend money for long term.

A

Loans

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12
Q

The bank can advance money by discounting or by
purchasing bills of exchange, both domestic and foreign bills.

A

Discounting Bill of Exchange

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13
Q

These are also called as non-banking functions

A

Secondary Functions

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14
Q

The bank acts as an agent of its customers such as trustees, executors,
advisers and administrators on behalf of its clients.

A

Agency Functions

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15
Q

The bank transfer funds from one branch to another or from one
place to another

A

Transfer of Funds

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16
Q

The bank collects the money of the cheques through the
clearing section of its customers.

A

Collection of Cheques

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17
Q

On standing instructions of the client, the bank makes periodic
payments in respect of electricity bills, rent, etc

A

Periodic Payments

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18
Q

The banks also undertakes to purchase and sell the shares and
debentures on behalf of the clients and accordingly debits or credits the account.

A

Portfolio Management

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19
Q

The bank collects salary, pension, dividend, and such other
periodic collections on behalf of the client.

A

Periodic Collections

20
Q

Banks issue drafts for transferring money from one place to another.

A

Issue of Drafts and Letter of Credits

21
Q

The bank provides a locker facility for the safe custody of valuable
documents, gold ornaments, and other valuables

A

Locker Facility

22
Q

The bank underwrites shares and debentures through its
merchant banking division.

A

Underwriting of Shares

23
Q

The commercial banks are allowed by Reserve Bank
of India (RBI) to deal in foreign exchange.

A

Dealing in Foreign Exchange

24
Q

The bank may also undertake to prepare project reports on behalf of
its clients.

A

Project Reports

25
Q

It undertakes social welfare programs, such as adult literacy
programs, public welfare campaigns, etc.

A

Social Welfare Programs

26
Q

the most common form of business organizations. These are chartered by a state
and given many legal rights as an entity separate from its owners

A

Corporations

27
Q

The board of directors of a small corporation is responsible for selecting a chief executive officer (CEO)

A

Selecting a CEO

28
Q

Small corporations are formed to stay in business on a permanent
basis. Therefore, another corporate function is continuity of business

A

Providing Continuity

29
Q

A small corporation is also responsible for managing its
resources effectively. Those involved in manufacturing must procure the necessary raw materials to create products

A

Managing Resources Effectively

30
Q

All corporations are in business to earn a profit. However, corporations
are also responsible for increasing profits to maximize those of their shareholders.

A

Increasing Profits

31
Q

Corporations are also responsible for giving back to their
communities. Many sponsor events or organizations such as symphony orchestras in their community.

A

Social Responsibilities

32
Q

autonomous associations of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democraticallycontrolled enterprise.

A

Cooperatives

33
Q

on the other hand, are organizations based on membership of employees in various trades, occupations, and professions, whose major focus is the representation of its members at the workplace and in the wider society.

A

Trade Unions

34
Q

To achieve higher wages and better working conditions
· To raise the status of workers as a part of industry
· To protect labors against victimization and injustice

A

Militant Functions

35
Q

· To generate self confidence among workers
· To encourage sincerity and discipline among workers
· To provide opportunities for promotion and growth
· To protect women workers against discrimination

A

Fraternal Functions

36
Q

provided to improve the quality of work life, including organization of
mutual fund, cooperative credit societies for providing housing, cooperative stores, cultural programs, banking and medical facilities, and training for women in various crafts to help them to supplement their family income.

A

Welfare activities

37
Q

including improvement of their civic life, awareness in the environment around them, enhancement of their knowledge particularly about issues that concern them, their statutory and other rights and
responsibilities, and workers’ participation in management.

A

Education of members in all aspects of their working life

38
Q

Some central union organizations are also assisting the Government in implementing the Workers’ Education Scheme

A

Scheme and procedure for redressing their grievance

39
Q

making the latter aware of union policy and stand on certain principal issues and personnel matters concerning members such as births, deaths, marriages, promotions, and achievements.

A

Publication of periodicals, newsletters, or magazines for establishing communication with their members

40
Q

provides updated information to union negotiators at the bargaining table. Such research is to be more practical than academic, concerning problems relating to daily affairs of the union and its activities, and union and management relations

A

Research

41
Q

These include affiliating the union with a political party, helping the political party in enrolling members, collecting donations, and seeking the help of political parties during the periods of strikes and lockouts.

A

Political Functions

42
Q

entities established by formal political agreements between their
members who have the status of international treaties.

A

International Organizations

43
Q

It was set up to help the so-called underdeveloped world to help integrate the poor countries into the international economy.

A

World Bank

44
Q

It was created to help stabilize currency exchange rates between nations; and to come to the aid of countries with temporary liquidity needs.

A

International Monetary Fund (IMF)

45
Q

It determines and enforces the rules regulating
international trade.

A

World Trade Organization (WTO)

46
Q

advocates of principled causes, ideas, and values such as
human rights or the environment. They do not work alone nor are they limited by national boundaries

A

Transnational Advocacy Groups

47
Q

establish and support sustainability programs for the community.

A

Development Agencies

UCSP, 07 Handout 1 (1 decks)

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