...Buckeye National Bank 1. a) PDOR- Est. MOH/Est. Act. (Total indirect costs/total value of checks processed) $2,850,000/$95,000,000= $0.03 per dollar processed. b) (i) Retail Line—(Value of checks processed X cost per dollar processed) $9,500,000 X $0.03= $285,000 (ii) Business Line $85,500,000 X $0.03= $2,565,000 The allocations are driven by the dollar value of the checks processed. c) (i) Total indirect cost proportion for Retail Line (Allocation amount/Est. MOH) $285,000/$2,850,000= 10% (ii) Total indirect cost proportion for Business line $2,565,000/$2,850,000= 90% The original system assumed that indirect costs are incurred in direct proportion to the dollar value of the checks processed. This allocation is approximately accurate only if the indirect costs in Exhibit B are incurred in direct proportion to the dollar value of the checks each customer line writes. d) (i) Annual indirect cost per Retail account. (Allocated indirect costs/number of accounts) $285,000/150,000= $1.90 per account (ii) Annual indirect cost per Business account $2,565,000/50,000= $51.30 per account e) (i) Contribution to profit per Retail account (Revenue per account minus cost per account) $10.00 - $1.90= $8.10 (ii) Contribution to profit per Business account $40.00 - $51.30= ($11.30) This suggests Buckeye National Bank should pursue a strategy that increases the retail-customer base because the original cost system shows retail customers are profitable, but business customers...
Words: 313 - Pages: 2
...government to develop and deploy advanced network applications and technologies, accelerating the creation of tomorrow's Internet.” (https://www.wpi.edu/.../Internet2/about.html) Over the years and as the Internet gained popularity, universities were the first organizations to recognize the limitations of bandwidth as it relates to data transfer rates and the need to share information and collaborate with other research institutes, universities, and colleagues. The need to support high performance applications and share information lead to the creation of the vBNS or very-high-performance Backbone Network Service in 1995 (http://en.wikipedia.org/wiki/Internet2). With a consortium of various investors and partnerships including the National Science Foundation, MCI, Qwest, Level3, and 30+ universities, Internet2 was formed. Through this consortium “Internet2 provides the U.S. research and education community with a network that satisfies their bandwidth-intensive requirements. The network itself is a dynamic, robust and cost-effective hybrid optical and packet network. It furnishes a 100 Gbit/s network backbone to more than 210 U.S. educational institutions, 70 corporations and 45 non-profit and government agencies.” (http://en.wikipedia.org/wiki/Internet2) Their goals include creating and maintaining a leading-edge network, exploiting broadband capabilities through new-generation applications, and new network services for all levels of educational use, with hopes to...
Words: 552 - Pages: 3
...Date Bank’s Name Bank’s Code District of Bank Branch Name of Candidate 5 CNIC No. Secretary, Federal Public Service Commission, Islamabad Case No. F.4Examination Fee for the post of //20 -R Name (or designation) & address of the person on whose behalf money is paid Full particulars of the remittance and of authority (if any) Rs. only) (Rupees only) Amount Head of Account By whom tendered Important Bank details must be filled by the candidate Signature Treasury Officer/ Bank Officer With Stamp C 02101 – Organs of State – Exam Fee Realized by FPSC Date Bank’s Name Bank’s Code District of Bank Branch Name of Candidate 5 CNIC No. By whom tendered Secretary, Federal Public Service Commission, Islamabad Case No. F.4Examination Fee for the post of //20 -R Name (or designation) & address of the person on whose behalf money is paid Full particulars of the remittance and of authority (if any) Signature Treasury Officer/ Bank Officer With Stamp only) Date Signature Treasury Officer/ Bank Officer With Stamp Date Signature Treasury Officer/ Bank Officer With Stamp (in words) Rupees only) (in words) Rupees only) For Bank use only Received payment Rs. /Rs. For Bank use only Received payment Rs. /Rs. (Rupees Bank’s Name Bank’s Code District of Bank Branch Name of Candidate By whom tendered CNIC No. Secretary, Federal Public Service Commission, Islamabad Case No. F.4Examination Fee for the post of /20 -R Name (or designation) & address of the person on whose behalf money is paid Full particulars...
Words: 543 - Pages: 3
...Name: - Kevin Binu Ninan Madonna ID: - 234879 Date: - 20/12/2014 Subject: - HIS 1010 Turkey’s most important domestic and international challenges today Turkey's fast late development accompanies reactions that have abandoned its economy defenseless. One worry is swelling, which was 10.4% in March—well over the national bank's target and the expansion rates of a large portion of Turkey's developing business peers. A greater concern is Turkey's becoming reliance on remote money to fuel its economy: its present record shortage arrived at the midpoint of 10% of GDP a year ago. Turkey's deficiency measured in dollars is second just to America's. Additional stressing still is that a great part of the remote capital that funds Turkey's present record shortfall is of the capricious sort (streams into banks or buys of stocks or securities), which can leave again rapidly. Particular set of challenges are: 1. The lack of a competitive edge Turkey's intensity - its capacity to contend in a worldwide commercial center - is hampered by high expenses and little gainfulness. Toward some degree this has been aided by coin devaluation, which has brought down expenses, however the hidden issues of disadvantage, a need to keep on moving further up the worth included chain, and an oppressive administrative environment remain. 2. A persistent current account deficit Connected to this is Turkey's tireless current record deficiency. In 2013, at 7.9 percent it was the most noteworthy...
Words: 829 - Pages: 4
...80C. Deduction in respect of life insurance premia, deferred annuity, contributions to provident fund, subscription to certain equity shares or debentures, etc.- (1) In computing the total income of an assessee, being an individual or a Hindu undivided family, there shall be deducted, in accordance with and subject to the provisions of this section, the whole of the amount paid or deposited in the previous year, being the aggregate of the sums referred to in sub-section (2), as does not exceed one lakh rupees. (2) The sums referred to in sub-section (1) shall be any sums paid or deposited in the previous year by the assessee— (i) to effect or to keep in force an insurance on the life of persons specified in sub-section (4); (ii) to effect or to keep in force a contract for a deferred annuity, not being an annuity plan referred to in clause (xii), on the life of persons specified in sub-section (4): Provided that such contract does not contain a provision for the exercise by the insured of an option to receive a cash payment in lieu of the payment of the annuity; (iii) by way of deduction from the salary payable by or on behalf of the Government to any individual being a sum deducted in accordance with the conditions of his service, for the purpose of securing to him a deferred annuity or making provision for his spouse or children, in so far as the sum so deducted does not exceed one-fifth of the salary; (iv) as a contribution by an individual to any provident fund to which...
Words: 3074 - Pages: 13
...Excerpt from FS Series #11 – innovations in financial services delivery: branchless banking C3. Case 3: Eko India Financial Services Private, Ltd. C3a. Background & Environment India has 80,000 bank branches, 110,000 cooperatives (one in every five villages), and 150,000 post offices. It is estimated that each branch serves about 15,000 people in urban areas and 32,000 people in rural areas (World Bank, 2009). Consequently, less than 60 percent of the adult population has a bank account and less than 14 percent has a loan with a bank. Microfinance services tend to be concentrated in southern states (e.g., Andhra Pradesh and Karnataka). In 2009, the Self-Help Group-Bank Linkage Program[1] covered 45.2 million households. Non-bank finance companies and NGOs — both MFIs — now reach 22.6 million clients, of whom 17.9 million are active borrowers (Sa Dhan, 2009). In January 2006, the Reserve Bank of India issued new guidelines (Reserve Bank of India/2005-06/288) allowing banks to employ business facilitators and BCs to promote financial inclusion and improve outreach. The facilitators would primarily be involved in processing and opening accounts. In addition to facilitator functions, BCs should mobilize deposits and disburse credit on behalf of the bank. C3b. The Eko Business Model Eko India Financial Services Private Ltd. is a start-up company established in mid-2007 with the goal of bringing financial inclusion to the financially underserved middle- and low-income...
Words: 2193 - Pages: 9
...Airways * Kingfisher Airlines * SpiceJet * Courier * DHL * FedEx * International Air Couriers * Naparex * UPS * Oil * Bp * Indian Oil Corporation * Lucas Oil * Marathon Oil * ONGC * OPEC * Opet * Rosneft * Shell * Total * Pharmaceutical Companies * Abbott Laboratories * Johnson & Johnson * Merck & Co. * Pfizer * Textile * Economic * Banking * Axis Bank * Bank of America * Bank of New York Mellon * Home Loan * HSBC * ICICI Bank * IMF * Punjab National Bank * Reserve Bank of India * State Bank of India * Vijaya Bank * World Bank * Gold Price * USA Economy News * World Trade Organization * Finance * Currency * Australian Dollar * Dinar * Euro * New Zealand Dollar * Peseta * Peso * Pound Sterling * Real * Ruble * Rupee * US Dollar * Currency Exchange Rates * FDI * Forex * Paypal * Stock Exchange * BSE Sensex * NSE of India * Health * Pharmaceutical * Ranbaxy * Swine Flu * Marketing * Consumer Goods...
Words: 692 - Pages: 3
...Public sectorBank | Private sectorBank | | | Allahabad Bank | Axis Bank | Andhra Bank | DCB | Bank of India | Dhanlaxmi Bank | BOB | Federal Bank | Bank of Maharashtra | HDFC Bank | Central Bank | ICICI Bank | Corporation Bank | Induslnd Bank | Dena Bank | ING Vysya Bank | IDBI Bank | Karnataka Bank | Indian Bank | Yes Bank | Oriental Bank | J&K Bank | PNB | Lakshmi Vilas Bank | Punjab & Sind Bank | South Indian Bank | Syndicate Bank | | UCO Bank | | United Bank | | Union Bank | | Vijaya Bank | | SBI | | State Bank Bikaner & Jaipur | | State Bank Mysore | | State Bank Travancore | | Listed Banks in BSE 50 WEAK SECTOR Weak Sectors | No of Live Cases (2013) | No of Live Cases (2014) | Infrastructure | 20 | 25 | Iron & Steel | 59 | 53 | Power | 18 | 15 | Textiles | 74 | 45 | Ship-Breaking/Ship Building | 3 | 4 | Telecom | 11 | 5 | Weak Sectors | Aggregate Loan Amt (2013) | Aggregate Loan Amt (2014) | Infrastructure | 21912 | 57233 | Iron & Steel | 52682 | 43539 | Power | 18640 | 19138 | Textiles | 17677 | 20138 | Ship-Breaking/Ship Building | 6213 | 16792 | Telecom | 11681 | 10785 | Major Players Company | Loan Amount | Kingfisher Airlines | 2673 | Winsome Diamond | 2660 | Electrotherm India | 2210 | Zoom Developers | 1810 | Sterling Biotech | 1732 | S Kumars Nationwide | 1692 | Source: AIBEA, media report Rank:...
Words: 2296 - Pages: 10
...REGIONAL RURAL BANKS The Narasimham committee on rural credit recommended the establishment of Regional Rural Banks (RRBs) on the ground that they would be much better suited than the commercial banks or co-operative banks in meeting the needs of rural areas. Accepting the recommendations of the Narasimham committee, the government passed the Regional Rural Banks Act, 1976. A significant development in the field of banking during 1976 was the establishment of 19 Regional Rural Banks (RRBs) under the Regional Rural Banks Act‚1976. The RRBs were established “with a view to developing the rural economy by providing, for the purpose of development of agriculture, trade, commerce, industry and other productive activities in the rural areas, credit and other facilities, particularly to small and marginal farmers, agricultural labourers, artisans and small entrepreneurs, and for matters connected therewith and incidental thereto” . * Objective * Functions * Regional Rural Banks in India * Regional Rural Banks in Tamil Nadu RRBs established with the explicit objective of Top * Bridging the credit gap in rural areas * Check the outflow of rural deposits to urban areas * Reduce regional imbalances and increase rural employment generation The main objectives of setting up the RRB is to provide credit and other facilities‚ especially to the small and marginal farmers‚ agricultural labourers artisans and small entrepreneurs in rural areas. Each RRB will...
Words: 987 - Pages: 4
... Latest Developments in Banking & Financial Sector 01 SBI PO Exam - Special Current Affair Supplement 1) India implemented Basel III norms, which comprises of new global capital rules for banks, from which date? – 1 April 2013 (Under Basel III norms, Indian banks will have to hold core capital of at least seven percent of risk-weighted assets) 2) What is the name of the bill passed by the Lok Sabha on 18 December 2012, which seeks to strengthen banking regulations in the country? – Banking Laws (Amendment) Bill 2011 (This bill seeks to raise voting rights of investors in private sector banks to 26 per cent from present 10 per cent and also allows RBI to supersede boards of private sector banks to increase the cap on their voting rights to 10 per cent from 1 per cent 3) Financial sector regulators – The Reserve Bank of India (RBI), Securities and Exchange Board of India (SEBI), Insurance Regulatory and Development Authority (IRDA) and Pension Fund Regulatory and Development Authority (PFRDA), on 8 March 2013 joined hands by signing an agreement under the auspices of the Financial Stability and Development Council (FSDC). What are the main objectives of this move? – These regulators would monitor financial conglomerates (FCs) of the country as well as approve a national strategy for financial education (The term FC stands for financial conglomerates and applies to financial groups like ICICI, SBI and HDFC, which are engaged in varied financial activities like banking...
Words: 7901 - Pages: 32
...National Bank of Pakistan is one of the largest commercial bank operating in Pakistan. It has redefined its role and has moved from a public sector organization into a modern commercial bank. The Bank's services are available to individuals, corporate entities and government. While it continues to act as trustee of public funds and as the agent to the State Bank of Pakistan (in places where SBP does not have presence). It has diversified its business portfolio and is today a major lead player in the debt equity market, corporate investment banking, retail and consumer banking, agricultural financing, treasury services and is showing growing interest in promoting and developing the country's small and medium enterprises and at the same time fulfilling its social responsibilities, as a corporate citizen. In today's competitive business environment, NBP needed to redefine its role and shed the public sector bank image, for a modern commercial bank. It has offloaded 23.2 percent share in the stock market, and while it has not been completely privatized like the other three public sector banks, partial privatization has taken place. It is now listed on the Karachi/Islamabad/Lahore Stock Exchanges National Bank of Pakistan is today a progressive, efficient, and customer focused institution. It has developed a wide range of consumer products, to enhance business and cater to the different segments of society. Some schemes have been specifically designed for the low to middle income...
Words: 1040 - Pages: 5
...National Westminster Bank (St James Square Branch) ------------------------------------------------- 1. It was observed that the present scenario in the account opening has encountered delays which resulted to the negative feedback of the new customers who wish to open an account at Westminster Bank. The causes of the delay are the procedures which are confusing to the customers. Enumerated below are the delays encountered by new customers: * Customers fall in line at the Cashier Section * This process caused a long queue of customers that wants to open an account instead of going straight to the enquiry section that handles account opening * Cashier refers the customer to the enquiry section * Without any signpost to guide the customers, cashiers serves as a guide to direct clients to the enquiry section. Thus this contributes the delays of the procedure * Enquiry Section refers the customer to Records section * Another process that contributes to the delay since it does not commence the actual opening of the account. * Records section follows a long checklist before account opening * This process seem helpful in curbing defaulters however, having a long list of checklist may seem a little awkward in a sense that the bank do not trust the new customer. Moreover, it took an hour to finish the checklist consequently causes a delay. * Delivery of Print Cheque Book, etc * This process wherein the delivery...
Words: 454 - Pages: 2
...LUNGSOD NG MAYNILA (University of the City of Manila) Gen. Luna St., Intramuros, Manila A Case Study on PNB- ALLIED BANK MERGING Submitted to the Faculty of Graduate School of Management Pamantasan ng Lungsod ng Maynila In Partial Requirement for the subject Financial Management 2 Submitted to: Dr. Josefina Dalandan Submitted by: Bernadeth R. Alagao Eron T. Pabalan Rona C. Lalusin GSM-MBA EXECUTIVE SUMMARY PNB COMPANY PROFILE • Established as a government-owned banking institution on July 22, 1916 with headquarters in the old Masonic Temple along Escolta, Manila, the then "Wall Street of the Philippines" in the bustling district of Sta. Cruz in Manila. • Primary mandate was to provide financial services to Philippine industry and agriculture and support the government's economic development effort. • "The First Universal Bank in the country" • On July 24, 1916, PNB established its first branch in Iloilo. • In 1917, PNB marked its entry in the field of international banking when it opened its New York Branch. The following year, it established five more domestic branches and another overseas branch in Shanghai, China. • "PNB launched the first on-line Electronic Data Processing System in the entire Far East" • In 1963, it established the National Investment and Development Corporation to engage primarily in long-term and equity financing of business ventures. ...
Words: 2088 - Pages: 9
...taken for granted. No assurances or promises or proclamations will hold. MiSSioN ACCoMPLiCe... Posted by: williambanzai7 Post date: 01/15/2015 - 16:06 Je Suis _________ User login Username: * Home "It's Carnage" - Swiss Franc Soars Most Ever After SNB Abandons EURCHF Floor; Macro Hedge Funds Crushed Submitted by Tyler Durden on 01/15/2015 06:07 -0500 Search Password: * C reate new account Request new password Log in Bank of England Soros LIBOR National Bank Bond Crude Equity Markets None Reuters Twitter Fail France George Swiss Monetary Policy Switzerland Swiss Franc Twitter Volatility Tw eet 489 Like 382 Share 143 31 "As if millions of macro hedge funds suddenly cried out in terror and were suddenly silenced" Over two decades ago, George Soros took on the Bank of England, and won. Just before lunch local time, the Swiss National Audio Commentary From RanSquawk: open in browser PRO version Are you a developer? Try out the HTML to PDF API pdfcrowd.com Bank took on virtually every single macro hedge fund, the vast majority of which were short the Swiss Franc and crushed them, when it announced, first, that it would go further into NIRP, pushing its interest rate on deposit balances even more negative from -0.25% to -0.75%, a move which in itself would have been unprecedented and, second, announcing that the 1.20 EURCHF floor it had instituted in September 2011, the day gold hit...
Words: 5112 - Pages: 21
...Julian David GDP of Switzerland One for all and all for one. Many people have heard this saying before, but not many people know that this is the motto of Switzerland. In 2002, Switzerland was asked to join the European Union, but immediately declined the invitation. In fact, Switzerland is so great and their government thinks so highly of itself, that they believe that there is no place for them in the European Union. Switzerland ranks high in several metrics of national performance. According to Credit Suisee, Switzerland has the highest nominal wealth per adult in the world and the eighth highest per capita gross domestic product. Swiss citizens also have the highest life expectancy in the world and the country spends the most money in the world on healthcare. Zürich and Geneva, two major cities in Switzerland, have both been ranked among the top cities in the world with the highest quality of life. Established on August 1, 1291, Switzerland has a current population of 8 million. The country is known for being neutral and avoiding warfare; they have not been involved in a war since 1815 and did not join the United Nations until 2002. Switzerland is frequently involved with peace-building around the world; in fact, the Red Cross came from Switzerland. Swiss values are federalist in nature and the country runs under a direct democracy. Education is very important in Switzerland; there are more public schools...
Words: 680 - Pages: 3
