literature review of icici bank

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Literature review of icici bank methodology research paper sample

Literature review of icici bank

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Download Free PDF. Damini Juyal. A short summary of this paper. This is my original work and this project work has not formed the basis for the award of any Degree to the best of my knowledge. The contents of this report, in full or in parts have not been submitted in any form to any other institute or university for the award of any degree or diploma Guide Ms.

I am grateful to all of them for their time, energy and wisdom. Getting a project ready requires the work and effort of many people. I would like all those who have contributed in completing this project. It also provides the practical knowledge about the functioning of various departments. As we come across the Personnel Department, Marketing Department, we learnt number of things related to these departments.

My training is focusing on the area of the competitive Market. Insurance market of Rajkot is very huge and continuous growing. It is leading in insurance market and doing continuous growth. India's government-owned banks dominate the market. Their performance has been mixed, with a few being consistent profitable. Several public sector banks are being restructured, and in some the government either already has or will reduce its ownership.

Foreign banks operate more than branches in India. The entry of foreign banks is based on reciprocity, economic and political bilateral relations. An inter-departmental committee approves applications for entry and expansion. All other banks had to do so by March All large Indian banks are nationalized, and all Indian financial institutions are in the public sector. It is the sole authority for issuing bank notes and the supervisory body for banking operations in India.

It is also responsible for granting licenses for new ban branches. Several licenses for private banks have been approved. Despite fairly broad banking coverage nationwide, the financial system remains inaccessible to the poorest people in India. These are the scheduled commercial banks; the regional rural banks, which operate in rural areas, not covered by the scheduled banks; and the cooperative and special purpose rural banks. In terms of business, the public sector banks, namely the State Bank of India and the nationalized banks, dominate the banking sector.

And very next year i. After two years first two regional offices in Calcutta and Madras were opened. Siddharth Mehta in the year After two years Mr. In the same year Mr. The merger would enhance value for ICICI shareholders through the merged entity's access to low-cost deposits, greater opportunities for earning fee-based income and the ability to participate in the payments system and provide transaction-banking services. The merger would enhance value for ICICI Bank shareholders through a large capital base and scale of operations, seamless access to ICICI's strong corporate relationships built up over five decades, entry into new business segments, higher market share in various business segments, particularly fee-based services, and access to the vast talent pool of ICICI and its subsidiaries.

Consequent to the merger, the ICICI group's financing and banking operations, both wholesale and retail, have been integrated in a single entity. ICICI Bank set up its international banking group in fiscal to cater to the cross border needs of clients and leverage on its domestic banking strengths to offer products internationally. In their respective sectors ICICI Group companies have enhanced and maintained their leadership position with the support of strong customer focus.

In order to provide the medium and long term project financing to Indian businesses development financial institutions are created. Ramaswami Mudaliar. In the Indian companies, ICICI is the first company for increasing the funds from international markets besides funding from the World Bank and other multi-lateral agencies. Among all private banks ICICI bank has to develop into largest commercial bank so consequently two entities are combined.

In the second half of nineties to beat the Indian banking industry, with new technologies ICICI bank which is a new generation bank is in progress. Of UK. By means of large agriculture markets, in place more than 70 agri-desks and Internet kiosks are started. Towards Rs. About 4, 50, debit cards of ICICI bank are situated where as 5, 50, credit cards are situated at present. For every month by rate 1, 00,, debit and credit cards are added by bank.

The debit card business is the latest one where as credit card business is started 2 years back by bank. At the end of December 31, profit is Rs. During specialized subsidiaries and variety of delivery channels, for retail customers and corporate customers an open series of financial services and banking products are presented by ICICI and in regions like asset management and venture capital, investment banking, life and non-life insurance it is joined. Technology: In an extremely automated environment the HDFC bank functions in terms of communication systems and information technology.

Towards its customers this bank is allowed to present transfer facilities of speedy funds, because every branch of this bank contains online connectivity. To deal with customers through the Automated Teller Machines ATMs and branch network, a multi-branch access is also offered. In order to gain the best technology which is available internationally so as to create infrastructure for a world class bank, considerable investments and efforts were made by the bank.

Through robust and scalable systems, the business of the bank is sustained which makes sure that the clients are always provided with supreme services. In the internet and technology, the bank has prioritized its commitment as one of its major aims and also in web-enabling its core business an important progress has been already made. To produce a build market share and competitive advantage, the bank has been successful in influencing its market position, in all of its business.

In late , HDFC launched its credit card business. A total card base credit and debit cards HDFC bank crosses over 13 million by the end of the March The Bank is well positioned as a leader in various net based B2C opportunities including a wide range of internet banking services for Fixed Deposits, Loans, Bill Payments, etc. It should be ensured that this minimum balance is maintained by the account holder at all times.

However a minimum balance of Rs. If the minimum balance of Rs. The minimum amount with which Savings Bank Account can be opened is Rs. For all branches except computerised branches minimum amount of balance should be: i Rs. The following institutions are permitted by R. State Bank of India, its subsidiaries or any other nationalised Bank.

The interest amount accrued on such deposits shall be treated as JRY additional resources. Such intimation should be given to the Bank whenever he desires to open another account in the same or other Bank. There are no restrictions as to the number and amount of withdrawals from a current account. These accounts are normally opened by businessmen, joint stock companies, institution, public authorities and public corporations.

No interest is payable on these accounts arid hence they are a source of comparatively low cost lendable resources to the Bank. All efforts should therefore be made to mobilise maximum deposits in Current Accounts. Except in the following cases: a On current account balances of Regional Rural Banks at half percent below the borrowing rate fixed for RRBs for borrowing from the sponsor Bank. There are no restrictions on the number and amount of withdrawals.

Overdraft facilities can be given to deserving current account holders on request as per prescribed procedure. Incidental charges are levied on all current accounts to recover a portion of cost of maintenance, stationery and other services rendered to current account customers. The facility of overprinting of names on cheque forms is generally extended to customers keeping sizeable balances and having large operations in their accounts. Who can open Current Accounts Any person s or parties capable of entering into contract i.

The individuals desiring open the account should be guide to fill up the form properly and legibly. Accounts of Sole Proprietorship Concerns It is an account in the name of a firm or business owned by one individual who is its proprietor. It is operated upon by the individually in his capacity as the sole Proprietor of the firm. All the formalities for opening a current account as mentioned in paragraph 4 above have to be completed.

The ownership of such property passes on to the members of the family according to the Hindu Law. According to Mktakshara School of Hindu Law, every male member of the family acquires an. After the enforcement of Hindu Succession Act , the share of the deceased coparcener who was a member of the Joint Hindu Family divisible amongst the wife, daughters and other relatives as given in the Act.

A daughter is a member of the H. While opening and conducting an account in the name of Joint Hindu Family, a has to bear in mind the following aspects i The family business and its assets are managed by the eldest male member known as Karta. The sons, grandsons, great grandsons lineally descended from a common ancestor are called Co-parceners.

The H. Inoperative Current Accounts In this cases where there are no operations for 6 months or more and minimum balance is not being maintain as shown below, a service charge of Rs. Minimum Balance in Current Account: Metro Urban Semi-Urban Rural In account where, the minimum balance is over the above and there are no transactions for 6 months or more, the account holder should be contacted to operate the account.

Alternatively, a suggestion should be made to them to open a Savings Bank account if eligible to do so. If not so eligible, and want their Current Account to continue, the same be allowed and a service charge should be levied as per H. In all such cases, as in the case of unsatisfactory accounts it is desirable to give sufficient notice before closing down the account.

Monthly payment of interest is also made on specific request at discounted rates. This facility is available for deposits of Rs. SDR Samruddhi Deposit Scheme This is a cumulative deposit scheme where deposits are accepted in periods which are multiples of three months. The interest as per chart is compounded at quarterly intervals and paid on maturity along with the deposit amount.

Grab it, as the balance amount in Fixed Deposit will earn Fixed Deposit Interest for the period it remained in the Fixed Deposit at the contracted rate on the date it was made Fixed Deposit. Deposits are accepted under the scheme in monthly installments for a predetermined period, Interest at rates given in the chart are added on the accumulated balance and compounded at quarterly intervals.

Installments under the scheme can be remitted at any branch of the bank for onward remittance to the branch where the account is maintained. LLRD Loan Linked Recurring Deposits This is a scheme similar to the RD scheme with a facility to take a loan equivalent to three times the maturity value of the deposit for purchase of a consumer durable.

Meanwhile the whole amount will continue to get interest for the entire period. The Icici Freedom Deposit requires a minimum period of 1 year and a maximum of 5 years. Individuals, in single or joint names, corporate bodies and firms can open a Icici Freedom Deposit.

Under cumulative interest schemes, the total interest payable or the maturity value gets mod if Tax Deduction at Source TDS becomes applicable. At present TDS is applicable for domestic deposits where annual interest payable during a financial year is Rs. Crore Date of redemption of issue unless otherwise specified February Public subscription tax saving bond"laaa" by icra unsecured redeemable regular income bond"care aaa" by care money multiplier bond bonds in the nature of children growth bond debentures aggregating pension bond rs.

Eligibility Eligible investors and bond holders. Procedure Just fill the application form and submit it at any of the authorised collection centers in your city, along with the bond certificate s and unencashed interest warrants, if any and you will receive an acknowledgement slip. Submit a separate application form for each code of bond. Submit a separate application form for each folio number. An investor can sell up to a maximum of 50 bonds on any day.

After verification and scrutiny of the application form and the attached certificate s and warrants, a cheque will be issued and sent to you. Electronic clearing service ecs facility The reserve bank of india rbi has introduced the concept of ecs through the clearing house to obviate the need for issuing and handling paper instruments and thereby facilitate improved customer service. Icici may make available such facility at the centres where the rbi provides the facility.

Prices of bonds The bonds are sold as per a price card issued by icici on a weekly basis to reflect the prevalent market rates. The price card with the current rates for sale for each of the bonds available under this facility will be made available at all designated collection centers and leading brokers in your city.

The price of the bond depends upon the accumulation of interest on the bond and the interest rates prevailing at the time of sale. The price applicable is the price as on the date the application form is submitted to the designated collection centre. Broken period interest from the date of issue upto 30th june or 30th december as the case may be will be paid.

Such interest will be payable from the date maturity till the bonds are redeemed. Besides, this research findings show that the customer satisfaction plays the role of a mediator in the effects of service quality on service loyalty. Afsar, et al. They attempted to find the factors of customer loyalty and their relationships with the banking industry in developing countries. They examined and found that perceived quality, satisfaction, trust, switching cost and commitment are the factors which influence the loyalty of the customers.

The study examines the effect of service quality determinants on the degree of customer satisfaction in public and private banks in India. By realizing the gap between the perceived and actual service quality, customer satisfaction can be extremely improved. Manasa Nagabhushanam conducted a research study on service quality of banks in India. The study encompasses the service quality of all the banks i. The study was conducted to analyze the expected and perceived gap among customers and bankers.

Mukta Dewan and Dr. The study examines that there was a significant difference in the perception of service quality and its dimensions for the private sector bank customers for different categories of demographic factors. The perception of male and female customers varied significantly for the overall service quality and its dimensions — reliability, responsiveness, assurance and empathy.

It was found that the male customers had a more positive perception of service quality as compared to the female counterparts. Maya Basant Lohani and Dr. The study was conducted to ascertain service quality variations across selected banks by demographic variations and to measure the customer satisfaction in selected public and private sector banks by analyzing the gap between expectations and their perceptions of banking services. Vibhor Jain, Dr. Sonia Gupta and Smrita Jain studied customer perception of service quality in banking sector with special reference to India private banks.

The study examines to learn and understand the customer perception regarding service quality and understand the different dimension of service quality in banks. There is an urgent need for the banking services to reaffirm themselves in view of the cut-throat competition, which is close on the anvil. Nisha Malik and Mr.

The aim of proposed study was to find out perception of HDFC and ICICI bank customers regarding to the service quality parameter and gap analysis of expected and acknowledged quality parameters, and also revels the relationship between psychographic factors and satisfaction levels of rural and urban customers.

Akte S. The study concludes that in four dimensions like reliability, empathy, tangibility, assurance, the gap between perceptions and expectations is significant except responsiveness where it is insignificant means banks do not extent that level of services which will satisfy the customers expectations.

The study also suggests some recommendations to minimize this gap. Remember: This is just a sample from a fellow student. Sorry, copying is not allowed on our website. We will occasionally send you account related emails. This essay is not unique. Sorry, we could not paraphrase this essay.

Our professional writers can rewrite it and get you a unique paper. Want us to write one just for you? We use cookies to personalyze your web-site experience. This essay has been submitted by a student. This is not an example of the work written by professional essay writers. Get help with writing. Pssst… we can write an original essay just for you. Your time is important. Get essay help. Functions of modern commercial banks Essay. Online Banking: Definition and Features Essay.

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Concerns about inflation and asset bubbles appear to have increased. We expect the PBOC to move to a tightening regime going in to Q4 and H1 responding to a pick-up in the inflation and improvement in its growth. The policy rates might be kept unchanged but the Central Bank could drain the liquidity and raise short-term money market rates.

The statistical and quant based observations in particular are unique and lend interesting perspectives. Forward looking research helps in forming a cross asset view. The research reports are very well structured, ideas clear and writing concise and argumentative. The literature review is comprehensive and you manage to successfully discuss the importance of your research, from a theoretical and an applied perspective. Fireside Chat. Monetary policy likely to normalise in Q4.

RBI Monetary Policy. Indian economy and banking sector. The information contained herein, may include links to third-party resources and websites. These links are provided for your convenience only and do not signify that ICICI Bank endorses, approves or makes any representation or claim regarding the accuracy, copyright, compliance, legality, security, suitableness, the absence of viruses or malware, or any other aspects of the third-party resources or websites.

ICICI Bank or any of its employees, officers and agents are not acting as your financial adviser or in a fiduciary capacity in respect of this proposed transaction with you unless otherwise expressly agreed by us in writing. This content is generic and does not take into account your personal circumstances. Before entering into any transaction related to the information contained herein, you should take steps to ensure that you understand the transaction and have made an independent assessment of the appropriateness of the transaction in the light of your own objectives and circumstances, including the possible risks and benefits of entering into such transaction and should seek your own financial, business, legal, tax and other advice regarding the appropriateness of entering into such transactions.

The material in this content is derived from sources ICICI Bank believes to be reliable but, have not been independently verified. In curating this content, ICICI Bank has relied upon and assumed the accuracy and completeness of all information available from public sources.

ICICI Bank makes no guarantee of the accuracy and completeness of factual or analytical data and is not responsible for errors of transmission or reception. ICICI Bank has no duty to update this content, the opinions, factual or analytical data contained herein.

Except for the historical information contained herein, statements in this content, which contain words or phrases such as 'will', 'would', etc. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements.

Any forward-looking statements contained herein, are based on assumptions that ICICI Bank believes to be reasonable as on the date of this video. ICICI Bank undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof. These filings are available at www. By continuing to use the site, you are accepting the bank's privacy policy. Escrow account Cater to all the Escrow Account requirements such as Sale purchase transactions Digi Escrow An innovative digital platform to execute escrow transactions online Nodal account A specialized account for payments to merchants for online purchase of goods and services.

Domestic factoring Domestic factoring and more Export factoring Export factoring and more Reverse Factoring Reverse Factoring and more. Apply Now Know More. Personal Loan up to Rs 25 lakhs Personal Loans starting at attractive rates, as low as Your vision, our mission We turn your dreams into reality, through exclusive product offers.

Get Offer. Know More. Download Now. Economic Research Desk. View Result. Reserve Bank of India. Federal Reserve. Bank Of England. European Central Bank. People's Bank of China. View ALL Reports. Innovative business firms found that products and services had to be expressly designed to meet customer needs and their line divisions have accepted marketing as a way of life. The management without any right policy is like "building a house on sand". It means an effective management always needs a thorough and continuous search into the nature of the reasons for, and the consequences of organization.

In line with this, some related earlier studies conducted by individuals and institutions are reviewed to have an in-depth insight into the problem and exploring the reformation of banking policy. A literature review is a description of the literature relevant to a particular field or topic. It gives an overview of what has been said, who the key writers are, what are the prevailing theories and hypotheses, what questions are being asked and what methods and methodologies are appropriate and useful.

As such, it is not in itself primary research, but rather it reports on other findings. However, it is still in its evolutionary stage. By the year , large sophisticated and highly competitive internet banking markets will develop. Almost all the banks operating in India and having their websites but only a few banks provide transactional internet banking.

From the banks prospective the main benefits and electronic banking are cost savings, reaching new segments and the population, efficiency, cross selling, Third —party integration, and customer satisfaction. It was found that either Internet banking was absent or it was not successful in the local Malaysian banks due to lack and adequate legal frame work and security purpose.

However major percent of the respondents were having internet access at home and this represented a positive indication for personal computer based and e-banking in future. Sanjay J. Bhayani A fairly large number of rural and semi urban centre with reasonable potentialities of growth failed to attract the attention of commercial banks.

As far as the deposit mobilization in the rural areas is concerned, much remains to be done. S offering Internet banking and the product and services being offered. Only 30 percent of National banks offered Internet banking in the Fourth quarter of However as a groups these Internet banks accounted for almost 90 percent of National banking systems assets, and 84 percent of small deposits banks in all size categories offering Internet banking tend to accounts less on interest — yielding activities and core deposits than do non internet banks, also institution with Internet banking out performed non-Internet banks in Terms of Profitability.

Only Four banks out the ten major banks were in the transactional sites. The rest of sites were at informal level. There are various psychological and behavioural issues such as trust, security of Internet Transaction, unwilling to change and preference for human interface which appear to hinder and growth of Internet banking. ICICI Bank has managed to focus better on customers by undertaking a serious approach that has enabled it to manage its operations effectively.

It included better targeting of customers; higher share of wallet; more effective channel strategies; database marketing, etc. The bank is able to evaluate customer usage pattern through CRM data warehouse.

New products are developed through extensive customer profiling. The study also concluded that there is a significant influence on customer satisfaction. This was evidenced by measuring the satisfaction of consumers of housing finance, vehicle finance and in house consumer finance in India. According to Mandell, in those days adoption of new technology was related more closely to competition than to cost savings.

They investigate the gains from electronic payments with Norwegian data and conclude that electronic payments lead tosocial benefits. There are studies on ATM pricing and fees. The author further analyses fees and surcharging in ATM networks. Joint profits of the shared network are Furthermore, large banks prefer lower interchange fees than do small banks. The establishment of ICICI aimed at filling certain gaps in the institutional facilities for the provision of finance to industrial undertakings in the private sector.

It is also to act as a channel for providing development finance to industry. The erstwhile DFI has thus ceased to exist. Its main objective is to encourage and promote private ownership of industrial investment and expansion of investment markets. It offers diversified financial services at both the corporate and retail level.

Public sector and private sector respectively. We have also noticed a considerable shift in the approach of lending from security orientation to purpose orientation as compared to traditional banking. Despite of overall progress poor capital base, inefficient organization structure, declining profitability and growing non-performing assets had become the major hindrances in the development during post nationalization period. The bank have been studied with the belief that they hold the largest market share of banking business in India, in their respective sectors.

Sources ofthe data Survey method was used for the study. Both Primary and Secondary data were used for the study. Sampling Stratified random sampling method was followed for the study. Delhi Metro was stratified into three parts namely Central delhi, South delhi and North delhi. Hence, , and sample respondent were selected. In each branch 7 sample respondent were selected for the study.

Figure: 4. The study has basically depended on primary data. The required primary data were collected by means of an interview schedule administered to customers of ICICI Bank ltd. The interview schedule was developed mainly on the basis of the studies of Lyman E. The interview schedule contained questions divided in to six parts namely general profile, services study, ATM services, opinion survey Financial and Non-Financial services general operational opinion, and Customer satisfaction.

Questions were framed based on Likert five — point scale to obtain responses from customers. A pilot study was conducted with a sample of 50 respondents to know the feasibility of the study. Descriptive statistical tools such as frequency distribution, mean values, quartile distribution and standard deviation have been used to describe the profiles of respondents.

The data so collected were tabulated analysed and presented in this research report. The interpretation of data has been used to draw inferences and findings of the study. The hypotheses framed on the lines of the objective of the study, were tested statistically for their significance. Accounting policies have been consistently applied except where a newly issued accounting standard is initially adopted or a revision to an existing accounting standard requires a change in the accounting policy hitherto in use.

The estimates and assumptions used in the Actual results may differ from those estimates. Any revision to accounting estimates is recognised prospectively in current and future periods. Current assets include the current portion of non-current financial assets.

All other assets are classified as non-current. Terms of a liability that could, at the option of the counterparty, result in its settlement by the issue of equity instruments do not affect its classification. Current liabilities include current portion of non-current financial liabilities. All other liabilities are classified as non-current. Cost includes all expenses incidental to the acquisition of the fixed assets and any attributable cost of bringing the asset to its working condition for its intended use.

Depreciation is charged over the estimated useful life of a fixed asset on a straight line basis. Further, as disclosed in table below, the estimated useful life of fixed assets of the Company is different from useful life prescribed in Schedule II of the Companies Act, Based on the nature of fixed assets used by the Company and past experience of its usage, the Company considers that the useful life for respective assets to be appropriate.

Nature of Fixed Assets Management Estimate of Useful Life in years Useful life as per the limits prescribed in Schedule II of the Companies Act, in Years Leasehold improvements are amortised over the period of the lease on straight-line basis or useful life of the asset whichever is lower. Intangible assets comprising software purchased or developed and licensing costs are depreciated on straight line basis over the useful life of the software up to a maximum of three years commencing from the month in which such software is first utilised.

Assets individually costing Rupees Five Thousand or less are fully depreciated in the year of purchase or acquisition. The Company provides pro-rata depreciation from the day the asset is ready to use and for any asset sold, till the date of sale. Impairment of assets The Company assesses at each balance sheet date whether there is any indication that an asset may be impaired.

If any such indication exists, the Company estimates the recoverable amount of the asset or of the cash generating unit to which the asset belongs to or the cash generating unit. If such estimated recoverable amount of the asset or of the cash generating unit is less than the carrying amount, the carrying amount is reduced to its estimated recoverable amount. The reduction is treated as an impairment loss and is recognised in the statement of profit and loss.

If at the balance sheet date, there is an indication that a previously assessed impairment loss no longer exists, the recoverable amount is reassessed and the asset is reflected at the recoverable amount subject to a maximum of depreciable historical cost. Investments Investments are classified as long term or current based on intention of the management at the time of purchase.

Long term investments are carried at carrying cost less diminution in value other than temporary in nature, determined separately for each individual investment. Current investments are valued at the lower of cost or net realisable value. The comparison of cost and net realisable value is done separately in respect of each individual investment.

Purchase and sale of investments are recorded on trade date. The gains or losses on sale of investments are recognised in the statement of profit and loss on the trade date. Management fees Management fees from mutual fund schemes are recognised on an accrual basis in accordance with the investment management agreement and SEBI Mutual Fund Regulations, Other Management fees Fund management and portfolio management fees net of service tax are recognised on an accrual basis in accordance with the respective terms of contract with counter parties.

Set up fees received by the company for venture capital fund and alternate investment fund is amortised over the period of 4 and 5 years of the fund respectively. Advisory fees Advisory fees are recognised on an accrual basis in accordance with the respective terms of contract with counter parties. Other income Interest income is accounted on an accrual basis. Dividend income is recognised when the right to receive dividend is established. Transactionsin foreign currency Foreign currency transactions are recorded at the rates of exchange prevailing on the date of the transactions.

Exchange differences, if any, arising out of foreign exchange transactions settled during the year are recognised in the statement of profit and loss. Monetary assets and liabilities denominated in foreign currencies are translated at the balance sheet date at the closing exchange rates on that date and the resultant exchange differences, if any, are recognised in the statement of profit and loss.

The net obligation in respect of the gratuity benefit scheme is calculated by estimating the amount of future benefit that employees have earned in return for their service in the current and prior periods and that benefit is discounted to determine its present value and the fair value of plan assets, if any, is deducted from such determined present value.

The present value of the obligation under such defined benefit plan is determined based on actuarial valuation using Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. The obligation is measured at the present value of the estimated future cash flows. The discount rate is based on the prevailing market yields of Indian government securities as at the balance sheet date for the estimated term of the obligations.

Actuarial gains and losses are recognised immediately in the statement of profit and loss. Superannuation The Company contributes to an approved superannuation fund which is a defined contribution Leave encashment The Company provides for leave encashment liability based on actuarial valuation as at the balance sheet date, carried out by an independent actuary.

Borrowing cost All borrowing cost are expensed in the period when they occur. Borrowing cost consists of interest and other cost that an entity incurs in connection with the borrowing of the funds. Fund expenses Expenses incurred inclusive of advertisement and brokerage expenses on behalf of schemes of the Fund are recognised in the statement of profit and loss of the Company unless considered recoverable from the schemes of the Fund in accordance with the provisions of SEBI Mutual Fund Regulations, Brokerageandincentives Brokerage and incentive payments are charged to statement of profit and loss as and when incurred.

The provision is assessed on a yearly basis based on actuarial valuation. The year-end provision is measured at the present value of estimated future cash flows and the same will be assessed on a yearly basis based on actuarial valuation. Operating leases Leases where the lessor effectively retains substantially all the risks and benefits of ownership over the lease term are classified as operating leases.

Operating lease rentals are recognised as an expense in the statement of profit and loss on straight line basis over the lease term. Tax Income tax expense comprises current tax i. Thus, it is a technique of analysing the financial statement by computing ratios. Liquidity ratios are some of the most widely used ratios, perhaps next to profitability ratios. They are especially important to creditors. Profitability ratios are arguably the most widely used ratios in investment analysis.

The ratios provide investors with an idea of the overall operational performance of a firm. These include Inventory stock turnover ratio; Trade Receivables debtors Turnover ratio; Trade Payables creditors Turnover ratio; and working capital Turnover ratio. Some solvency ratios allow investors to see whether a firm has adequate cash flows to consistently pay interest payments and other fixed charges. If a company does not have enough cash flows, the firm is most likely overburdened with debt and bondholders may force the company into default.

The current ratio indicates if the company can pay off its short-term liabilities in an emergency by liquidating its current assets. Current assets are found at the top of the balance sheet and include line items such as cash and cash equivalents, accounts receivable and inventory, among others.

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