BM0022- FINANCIAL SERVICES

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ASSIGNMENT

DRIVE	WINTER 2013
PROGRAM	Bachelor of Commerce in Information System
SUBJECT CODE & NAME	BM0022- FINANCIAL SERVICES
SEMESTER	5
BK ID	B0431
CREDITS	4
MARKS	60

Answer all the questions. Each question carries 10 Marks.

1. “Financial firms are a specialized part of economic system – Discuss

Answer : In financial economics, a financial institution is an institution that provides financial services for its clients or members. Probably the greatest important financial service provided by financial institutions is acting as financial intermediaries. Most financial institutions are regulated by the government.

Broadly speaking, there are three major types of financial institutions:

Depositary Institutions : Deposit-taking institutions that accept and manage deposits and make loans, including banks, building societies,

2. What is leasing? Discuss the differences between financial lease & operating leasing

Answer : Leasing is a process by which a firm can obtain the use of a certain fixed assets for which it must pay a series of contractual, periodic, tax deductible payments.

The lessee is the receiver of the services or the assets under the lease contract and the lessor is the owner of the assets. The relationship between the tenant and the landlord is called a tenancy, and can be for a fixed or an indefinite period of time (called the term of the lease). The consideration for the lease is called rent. A gross lease is

3. Write short notes on following

a. Industrial finance corporation of India (IFCI)

Answer : IFCI Ltd. was set up in 1948 as Industrial Finance Corporation of India, a Statutory Corporation to provide medium and long term finance to industry. After repeal of IFCI Act in 1993, IFCI became a Public Limited Company registered under the Companies Act, 1956. IFCI is now a Government controlled company

b. Industrial credit & Investment Corporation of India (ICICI)

Answer : The Industrial Credit and Investment Corporation of India was registered as a private limited company in 1955. It was set up as a private sector development bank to assist and promote private industrial concerns in the country.

Broad objectives of the ICICI are:

(a) to assist in the creation, expansion

c. IDBI

Answer : IDBI Bank Limited (IDBI) is an Indian financial service company headquartered in Mumbai, India. RBI has categorised IDBI as an "other public sector bank". It was established in 1964 by an Act of Parliament to provide credit and other facilities for the development of the fledgling Indian industry.

d. SIDBI

Answer : Small Industries Development Bank of India is an non-independent financial institution aimed to aid the growth and development of micro, small and medium-scale enterprises (MSME) in India. Set up on April 2, 1990 through an act of parliament, it was incorporated initially as a wholly owned subsidiary of Industrial

4. Give the importance & principles of insurance sector in India

Answer : The main objective of every insurance contract is to give financial security and protection to the insured from any future uncertainties. Insured must never ever try to misuse this safe financial cover.

Seeking profit opportunities by reporting false occurrences violates the terms and conditions of an insurance contract. This breaks trust, results in breaching of a contract and invites legal penalties.

5. Give the importance of hire purchase & lease financing compare & distinguish both

Answer : Hire purchase (HP) or leasing is a type of asset finance that allow firms or individuals to possess and control an asset during an agreed term, while paying rent or instalments covering depreciation of the asset, and interest to cover capital cost.

Assets are defined as anything of monetary value that is owned by a firm or an individual. Assets listed on a firm’s balance sheet can include tangible items such as

6. Give a shout notes on various agencies of housing finance existing in India.

Answer : Housing finance is a relatively new concept in India comparing to other financial services that are widely available in the country since a long year back. However, the speedy development in housing and various housing activities have understandably led to the growth of Indian housing finance market. As a result, a number of players have barged into the market. Here, find the list of top 10 housing finance companies in India.

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