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TANNAN’S BANKING LAW AND PRACTICE IN INDIA

TANNAN’S BANKING LAW AND PRACTICE IN INDIA- is a classic legal Treatise and most comprehensive, authentic, authoritative, widely acclaimed,appreciated, recognised and recommended masterwork on the Banking Law and Practice in India since decades, to be precise since 84 years of thefirst edition of this most prestigious book in 1926.

TANNAN’S BANKING is undoubtedly one of the best in the Banking Law field. Every edition of this book has sold like proverbial hot cakes, pointingclearly to its scholastic wealth on the subject, its deft handling by the authors its usefulness, utility and eventually the popularity of the book in the field.

TANNAN’S BANKING in its every edition is eagerly awaited and widely welcomed by the people in the Banking Law field. Present edition is nowreleased with the pride and glory of the previous editions. It is a unique and authentic publication of its kind, authored by a renowned personality, having tremendous knowledge and authority over the subject. New edition is completely revised and updated. The present Revised and Enlarged edition contains 76 Chapters covering entire spectrum of Banking Law and Practice. It contains most upto-date Statute Laws, Case Laws and RBI Master Circulars, Guidelines and Directions and other related matters annotated under appropriate discussions.

TANNAN’S BANKING has always been prescribed and recommended by Indian Institute of Banking and Finance (IIBF), Promotion Tests, Internal andother Exams and is cited and quoted by Hon’ble Supreme Court, High Courts and Tribunals in various judgments.

This most authoritative Treatise is an indispensable guide and reference work for the Banks and Financial Institutions (FIs), Legal Officers, BankingExperts, Branch Managers, Bankers for Promotion Tests, Internal exams, exams conducted by the Indian Institute of Banking and Finance (IIBS), other Universities and Management Institutes, Staff Training Colleges, Law Colleges, Commerce Colleges, Professors of Banking, Academicians, Chartered Accountants, Practitioners, Advocates, Lawyers, Hon’ble Courts, Judges, Bench and the Bar.

Preparing Resume With Clear Banking Objectives

Objective is nothing but the goal you have before achieving any task. When you are applying for any job, your aim will be to visualize yourself in good position in the future. When applying for any bank job, your resume objective must express to the recruiting bank officer about your aim to be working as the bank employee. You must prepare your resume in such a way that it must talk about your future career objective and it must explain to the employer how you are planning to fulfill these aims while benefiting the bank.

A Study about the Bank Profession:

The banking profession involves great responsibility because the banker has to handle financial transactions and must understand the reports which are prepared by the bank for all the transactions done. In this banking sector, one has to examine all the transactions made in his/her bank and must prepare a relevant report. Your resume for the banking job must highlight your knowledge in the field and must depict the list of details which will convince the recruiting officer to employ you. The bank profession has different positions; following are some preferred bank job responsibilities which a bank employee has to possess:

To create the financial portfolio, generate bank revenue reports, plan about bank schemes, know how to manage the banks profits, find methods for proper management, build a good relationship with the customer and customer care service, control and direct the retail banking resource and activities, discuss various business schemes with the clients and to settle the queries related to the function of the banks.

Important words to consider for banking objectives:

An objective statement in the resume is the first section which will be queried by the employer. Therefore, it is significant to include the words which describe your skills aptly. Below are such words which can enhance the quality of your objective statement and make your resume remarkable:

Self-motivated, positive thinker, enthusiastic, creative
Strong mathematical skill
Thorough knowledge of banking and finance
Logical approach and strong analytical skills

Going through many sample resumes will give an idea for preparing your resumes. There are many positions in this sector and you must alter your objective depending upon the position you are planning to apply.

Go For Banking Service

What should we choose as our career when a career we choose doesn’t give us job opportunities? Should we sit idle? Or we should go any other career. The answer lies here in this article. Unemployment is the major problem these days. This is not because that there isn’t enough service. The reason is that, there is one job for which thousands of candidates are applying. On the other hand, another company isn’t getting employees. There used to be a time, when only 1% students were selected for B.E degree. Also there weren’t enough engineering colleges. But now, every city has 2-3 engineering college. Every 3rd person goes for engineering. This has increased the number of engineers but posts are less. This sort of thing leads to unemployment and finishes the value of that course. Companies can’t afford so many engineers. Education has now become a profession. With this profession, unemployment in one department has increased as compared to another. So what should we do? Should we stop doing engineering? No, that’s not the solution. There are many job opportunities after that too. There are many exams like social services, GATE, IAS and banking exams, which requires any bachelor degree to be eligible for test. You can go for that too. At this time, a better option would be to go for . Many banks have been opened. Some of them are government and many are private. This has increased seats in the banking services department. There are tests for those banking services. One of them is IBPS PO exam. It’s one of the biggest exams and the . You can read about these exams, cracking tips, syllabus, exam pattern, section distribution and many more from internet. You can easily find about them on the internet. Giving exam isn’t enough. After the exam, there are other levels too to get selected for the job. That level is PI (personal interview). Many candidates crack the exam, but still don’t get the job because they can’t crack the interview. It is so because no one has told them about the way to clear interview. Tips to crack interview: ?Always dress nicely. Wear formal clothes and shoes along with tie. ?Keep your technical part strong. ?Be on time. Late comers leave a bad impression. ?Be confident, have a good sense of humour. ?Keep giving a smile. ?Maintain your posture as well. Don’t sit in a casual way, like you are sitting with friends. ?Never lie to your boss. Be honest ?Be a good story teller. Don’t be so boring. ?Never ask for salary. But you can tell them to expect salary when asked. ?Don’t interrupt the interviewer. This leaves a bad impression of yours. ?Leave the hall in a good way. There is no benefit of interview, if you are leaving in cruel, arrogant way. Go for the right career and have a beautiful and successful life. For more details must visit-

This entry was posted on December 1, 2017, in Banking and tagged , , .

How Can I Impress the Interviewer At A Banking And Finance Interview

Regardless of what many may think or say, first impressions do count and never more so than attending your first interview and especially if that interview is for a position within a professional organization such as banking or finance. So, it cannot be over emphasized that you must present a polished professional image the second you walk into the building.

It wouldn’t be the first time that I have attended an interview and the person due to interview me or a member of the HR department was already waiting for me in the company’s reception area.

Always remember that companies of the stature of which you have shown an interest are looking to hire professional people. People who care about themselves and their career so, look the part and act the part. Dress conservatively. Preferably wear a well pressed suit and avoid wearing too much jewelry or fragrances. Accompany the suit with a clean white shirt and tie. It’s also important to remember your personal hygiene and cleanliness. Bathe or take a shower, brush your teeth, and make sure your hair is well groomed before an interview as well to present a polished professional image.

Prepare in Advance

Whether you have attended many banking or finance interviews or not, it is likely that you can predict at least some of the questions you will be asked. Take the time to practice giving your answers to these questions. Even though you are not asked that question exactly, there is a very good chance you will be asked a question similar to it. The more you practice the more confident you will be in the interview.

Prepare to give well structured answers as well as practicing the tone and method of delivery. You want to give the impression of being confident but not arrogant. Good interviewers will know that you have prepared and that is no bad thing as they will appreciate how much this opportunity means to you.

Moreover looking the part and being well prepared for the interview will definitely minimize any anxiety or nervousness that almost all interviewees suffer when they walk into an interview.

You have prepared to answer questions. You also need to prepare to ask questions. It is in your best interest to gather as much information as you can about the company and the job opportunity you are about to be interviewed for.

Impress the interviewer by doing your homework. Research the company prior to the interview and gather key information with which you can prepare interesting and intelligent questions to ask the interviewer. This knowledge will help to demonstrate that you have a genuine interest in the company and the opportunity for which you are being interviewed.

This knowledge can also give you an edge over your competitors. You can use it to prepare examples of how the skills set you possess and the experience you have are an excellent fit to meet the needs and challenges facing the organization.

Shriram Group Eager To Come In Banking Field

The Chennai-based Shriram Group, which is keen to enter the banking space once the RBI issues the final guidelines on the entry of new players, believes it can leverage its 50-lakh customer base across companies for a successful business. Many of our chit fund customers do not have access to banking facilities and we feel they would require banking services like small cash transaction services or remittances. Hence, we are keen to get into the banking space though were awaiting the final guidelines, said Arun Duggal, chairman, Shriram Capital Trust. India Infoline in its report on SCUF sources over 90% of its business through the groups large chit fund infrastructure. SCUF benefits from low competitive intensity in its core geographic areas (Tamil Nadu and Andhra Pradesh) and product niches (two wheelers, used auto/CV, gold, small business and ). According to sources, Shriram Group is considered to be a strong contender for the banking licence. There are over half a dozen corporate houses keen to enter the banking space but the RBI is expected to cap number of new bank licences at four. At present, Shriram Group is present in the financial services space through its various subsidiaries that offer commercial vehicle financing, life insurance, consumer and small businesses financing, retail broking and chit fund business. Shriram Capital Trust is the holding company of Shriram Group. The beneficiaries of the Trust are the employees of Shriram Group. It is a unique ownership structure with an employee stock option and partnership, said Duggal. Shriram Chits has a turn over Rs 2,500 crore, 465 branches and 5,000 employees. Shriram Chits operates in four states Tamil Nadu, Andhra Pradesh, Karnataka and Maharashtra. The Group is also looking to grow its consumer and small businesses financing subsidiary, Shriram City Union Finance (SCUF), to enter the business. We will roll out the Shriram City Union branches in other states like Maharashtra and Gujarat. We will be entering the housing finance business once we receive the National Housing Bank approval, added Duggal.

Jobs in Banking Sector

Every one out of three students that we come across in today’s time is looking out for a job in the banking sector. It seems very logical as every bank today, be it public or private is looking to expand business in India. With this enters fierce competition that make thousand of candidates apply for the post of Bank PO but only a few make it. The students should keep some points in mind while and coaching. The academic qualification of the candidate should be a degree in any discipline from a recognized university or equivalent qualification by government of India. A candidate with good knowledge of computers is given preference. The applicant must be between with minimum of 21 and maximum of 30 years as per date of filling up the form. There is a provision of relaxation of age for OBC and SC, ST classes. Ex- serviceman and commissioned officers who gave minimum of 5 years of military service also get relaxation in their age. Persons with disability like visually handicapped also get some relaxation in their age. The selection process for the post of for different exams in India mainly comprises of two stages of written exams and upon selection in written exam goes to the second stage of interview/group discussion. The Written test majorly comprises of objective test, reasoning ability, quantitative aptitude, general awareness and general knowledge about banks. Application procedure mainly comprise of online submission of bank entrance application form through official website of respective banks. Every bank is in a race of becoming the best in the face of fierce competition and advent of technology. Customer satisfaction policy and minimal risks are the mantra of the day for all the banks. The commercial banking structure in India consists of Scheduled Commercial Banks and Unscheduled Banks. Scheduled commercial Banks constitute those banks which have been included in the Second Schedule of Reserve Bank of India (RBI) Act, 1934. RBI in turn includes only those banks in this schedule which satisfy the criteria laid down vide section 42 (6) (a) of the Act. With so much competition around, banks are focused in being the best in the country. And that in return demands quality personnel through means of written tests and rounds of personal interviews. It becomes important for the candidates to ensure that they meet with the eligibility criteria and adhere to the instructions in the official advertisement and complete the application form in all respect.

Advantages Of Offshore Banking In New Jersey

The use of offshore banking is no longer disreputable because the policies are now strictly regulated. People who utilize offshore banking in places that are secure are oftentimes expatriates and businesspeople involved in international transactions. However, those who have a poor credit history or those have been declared bankrupt will require a more complex solution than offshore banking.

One of the usual alternatives are offshore bank accounts in Jersey because this area is believed to be one of the most secure locations for such transactions. This is because it is located in a politically and economically stable jurisdiction. The Banking Business Law of 1991 is used to regulate these open offshore banks. In Jersey, there are hundreds of investment, fund management, and banking institutions. This provides a person with a wide range of entities to choose from, which permit him to opt for the best offshore banking service suitable to his needs. One way to check if the provider is reputable is to make sure that it is regulated by the Jersey Financial Services Commission (JSC). You can verify that a provider is regulated by JSC by checking the list published on the JSC website.

Offshore banking accounts have several advantages over local bank accounts, especially for expatriates. The primary advantage is that anywhere they are, they can easily deposit or withdraw money using these accounts. Another benefit offered by offshore banking is you do not have to transfer your money to your home country or to an onshore bank, for whatever your reasons.

Offshore banks accounts are also perfect for people who have to work in various locations. These accounts also provide better security and privacy in comparison to conventional banking services. Another benefit of offshore banking is that it makes it easier to deal with several currencies. For example, you can be paid in a particular currency, you can deposit the money in the form of another currency into your offshore pension, and you can also send money back to your homeland in your own currency.

The reduction of taxes is another significant benefit of an offshore account. To illustrate, if your home country does not tax foreign income unless you send it home, then it would be best to keep your funds in an offshore account. Offshore banking services provided by a reputable bank may also be more secure than keeping your funds in a local bank onshore. Finally, higher interest rates may be enjoyed with an offshore bank account compared to an onshore bank.

Investment Banking and Investment Services

A lot of people are trying to put their money into investments so that they can multiply their money for their future. However, if you have put small amounts of money into many different places, it may not be easy for you to always keep a track of how your investments are doing. Apart from this, investments are not always fool proof, and many a thing could go wrong and your money could easily vanish leaving you without any savings or even in debt. The best way to go about investments is to get help from professionals who really know what they are talking about and can help you keep your money safe. Investment services will take care not only of your investments, but also your taxes, assets, estates and portfolios. They will also keep a track of how your invested money is doing, so that you can focus on the other more important aspects of your life.

While talking about investments is all well and good, before making an investment, a lot of thought and research needs to be done, to ensure that money is not lost by investing in the wrong places. Everybody needs to sit down and think long and hard about what they want to do with their money, and where to put it. In such cases, is a platform that allows people who have money to invest meet people who need investments for business ventures. Unfortunately, more often than not, investment banks and misunderstood as places that have your regular accounts and savings and so many people are unsure how exactly to go about with their banking in relation to investments. Such banks play advisory roles and help tell investors where exactly their money would be best suited. On the other hand, they also help new businesses look for investors as a means to raise capital.

So whether you’re trying a start-up, or you’re looking for a good place to put all of your money, always remember to look to the professionals, as they can help you not only reap the best benefits, but can also provide you with services that make your life far easier. People might have money and not know what to do with it, while people might be in the search of capital and not know where they can find it, in such cases, always remember that there are services that will help us. Not knowing how your investments work can be quite scary, so it is best to ask somebody for advice, so why not ask the people who are paid to do exactly that?

Banking made easy

You are working rigid to receive money. Naturally, you want to take care of your earnings and make it grow to meet your needs. You also want to take good care the income of your business. These are your reasons to put up a bank account. Well, it is easy to put up a bank account but choosing the right bank for you entails efforts. Like shopping for good, you also have to look around for more banks and compare their services and benefits.

There are available banking services that really help people manage their cash easily. The range is from basic saving accounts to investments. There are also payroll processing if you have a huge company, accounts payable processing if your company buys assets, online transactions and insurance service to support the operation of business.

Here are tips you can use in choosing the right bank. Find a bank that would meet the banking requirements of your business. The right bank should secure the best deals for you and avoid unnecessary expenses. Say for example you have to transact business in other countries at times. You need to have access of your cash anytime so look for a bank that has global presence. If your business is based locally, choose a bank with personalized services. Often times, smaller banks are friendlier for small businesses.

Next thing you should consider is if banks have online banking. This will allow you to pay your bills conveniently or transfer money. Online banking should also enable you to make online downloads of your banking transactions and reports. Consider the branches of the bank and how close they are to your house or to your business site.

You may try boutique investment bank if your business have to acquire funds or if you need guidance and advice regarding transactions you will encounter. An example of this is the LIATI Group, LLC of .

If you have selected a bank already,examine the things you need in terms of their services, charges and penalties. Research about your bank, its clients and get information regarding their checking and saving accounts. Find out their loan interest and other services that might be useful for you. If you need wealth management, consider having boutique investment banks like that of .

After researching, visit your chosen bank and make final assessments. See if they have friendly employees and if they are professionals too. Approach the manager and ask if they also have a branch in investment banking similar to and LIATI. If not, pursue your choice with their bank if you are convinced and satisfied.

Investment Banking Interview Preparation

For undergrads and MBA students, the news that they have been selected for an interview at an investment bank comes with both excitement and dread. A position as an analyst or associate in corporate finance can be the first step towards a highly successful and highly lucrative career. Investment banking interviews, however, can be some of the most intimidating interviews out there, so let’s take a look at how to get prepared.

Before we jump into interview practice mode, we should take a step back and think about how we want to come across in the interview. In short, investment banking candidates should come off as bright, confident and likable.

In the final cut of selecting a hire, investment banks have already determined which candidates are smart and capable, so the decision comes down to who they like the best. So in addition to knowing a thing or two, candidates must remember to come across as a fun person to work with as well.

Know Your Story

Like any interview, candidates should have stories prepared about their lives that discuss their past, present and future. These are great answers for the standard questions:

“Tell me about yourself.” Or “Walk me through your rsum.” “Why are you interested in investment banking or this firm?” “Where do you see yourself in five to ten years?”

Candidates are highly likely to receive these or similar questions in any interview, and having succinct, practiced answers to them will give the impression of a polished candidate.

Your past story should highlight events that have qualified you for or gotten you interested in investment banking. Your present story should demonstrate why you want the particular position, how it is a logical step from where you are coming from and perhaps touch on where you hope the position will lead.

Your future story should discuss how investment banking will lead to where you want to go. Good future ambitions might be a managing director position in investment banking, a principle at a private equity firm, a CFO or perhaps and entrepreneur. In any case, you should communicate that those are long-term ambitions and you look forward to the experiences you’ll have in the position you’re interviewing for.

Know the Industry and Firm

Where investment banking interviews begin to get trickier is that firms will expect you to know what you’re getting into. If you confuse an equity analyst position with an analyst position in corporate finance, for example, you will not make it any further in the process.

You should understand the major divisions within an investment bank – sales & trading, corporate finance, research, etc. You should understand the hierarchy of positions within corporate finance – analyst, associate, vice president, managing director – and what each position does.

At the macro level, you need to understand the major differences between bulge bracket investment banks, middle market and boutique investment banks. You should also have a good answer for why you would prefer one type over another (and be sure that you prefer the type you’re interviewing with).