MA0037 & BANKING RELATED LAWS & PRACTICES

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ASSIGNMENT

DRIVE	SPRING 2015
PROGRAM	MBADS (SEM 3/SEM 5)MBAFLEX/ MBA (SEM 3)PGDBMN (SEM 1)
SUBJECT CODE & NAME	MA0037 & BANKING RELATED LAWS & PRACTICES
BK ID	B1618
CREDITS	4
MARKS	60

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

Q. 1. Bank accepts different types of deposits and based on this you will have to answer these. Explain the acceptance of deposits. Write about the maintenance of cash reserves.

Answer:Explanation of acceptance of deposits: Banks receive money from the public by way of deposits. The followingtypes of deposits are usually received by banks:

i) Current deposit:Also called ‘demand deposit’, current deposit can be withdrawn by the  depositor at any time by cheques. Businessmen generally open current  accounts with banks. Current accounts do not carry any interest as the  amount deposited in these accounts is repayable on demand without  any restriction.

ii) Saving deposit:Savings deposit account is meant

Q. 2. What do you understand by contract of guarantee? Write the differences between contract of indemnity and contract of guarantee. Explain the essential features of a contract of guarantee.

Meaning of contract of guarantee

Answer:Differences between contract of indemnity and contract of guarantee:Indemnity and guarantee are two important ways to safeguard ones interests when entering into a contract. There are many similarities between the two concepts though they differ a lot also.

Distinction between a contract of guarantee and a

Q. 3. Explain the appointment of adjudicating authority, procedure for adjudication Foreign Exchange Management Act (FEMA). Write the differences between contravention and compounding.

Answer:Adjudication is the legal process by which an arbiter or judge reviews evidence and argumentation including legal reasoning set forth by opposing parties or litigants to come to a decision which determines rights and obligations between the parties involved. Three types of disputes are resolved through adjudication:

·         Disputes between private parties, such as individuals or corporations.

·         Disputes between private parties and public

Q. 4. Explain the establishment of consumer disputes redressal agencies and write about composition of district forums and Jurisdiction of district forum.

Answer:Explanation of consumer disputes redressal agencies:There shall be established for the purposes of this Act, the following agencies, namely:—

(a) a Consumer Disputes Redressal Forum to be known as the 'District Forum' established by the State Government in each district of the State by notification:Provided that the State Government may, if it deems fit, establish more than one District Forum in a district.

(b) a Consumer Disputes Redressal Commission to be known as the 'State Commission' established by the State Government in the State by

Q. 5. Write the purposes of disciplinary sanctions for breach of the code. Write the internal procedure guidance. Give the differences between banking ombudsman and Banking Codes and Standards Board of India (BCBSI).

Answer:Explanation of breach of code:Two examples of breaches in a code of ethics include confidentiality and conflict of interest breaches. A confidentiality breach can occur if the professional leaks information about a customer project, design or business deal to a competitor. A conflict of interest breach can occur when someone in a purchasing role has a family member working with a vendor company that competes for and then wins a contract.

Once a report is submitted, the

Q. 6. Write the loan policy of RBI given to co-operative banks. Give the important guidelines from RBI on deposits.

Answer:Explanation of loan policy of RBI:You can generally seek a first time home loan for buying a house or a flat, renovation, extension and repairs to your existing house. Most banks have a separate policy for those who are going for a second house. Please remember to seek specific clarifications on the above-mentioned issues from your commercial bank.

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