...with the formation of the Reserve Bank of India in 1935. Objectives The objectives of the Department are: To assess in clear terms the achieved and achievable performance of the Offices/branches and Central Office Departments with the available resources. To suggest appropriate improvements so that performance level could be enhanced further. To oversee the overall Audit function and its various mechanisms put in place. To give feedback to the Top Management on the performance of Offices and Central Office Departments. Streams of Inspection in the Bank Presently, the following types of inspections are carried out/co-ordinated by the Inspection Department as per the periodicity indicated against them. • Management Audit & System Inspection • Information System Audit • Snap Audit • Concurrent Audit • Control Self Assessment Audit Management Audit & System Inspection Under the Management Audit and System Inspection (MA & SI), the inspection teams examine, evaluate and report on the adequacy and reliability of the existing systems and follow-up to ensure that laws, regulations, internal policies and procedures are meticulously followed and the work is carried out as per defined procedures and Central Office instructions. Apart from conducting systems inspection, the teams also conduct management audit under which the effectiveness of organisational...
Words: 2715 - Pages: 11
...RESERVE BANK OF INDIA (RBI) INTRODUCTION: The Reserve Bank of India (RBI) is the Central Bank of the country. It was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934. The Reserve Bank was started as share-holders bank with a paid-up capital of Rs.5 crores. On establishment it took over the function of management of currency from the Government of India and power of credit control from the Imperial Bank of India. The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937. The Central Office is where the Governor sits and where policies are formulated. Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the Government of India. PREAMBLE: The Preamble of the Reserve Bank of India describes the basic functions of the Reserve Bank as: "...to regulate the issue of Bank Notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage." ORGANIZATION OF THE RESERVE BANK: 1. Central Board 2. Local Board 3. Board for Financial Supervision 4. Board for Payment and Settlement Systems 1. CENTRAL BOARD: The Reserve Bank's affairs are governed by a central board of directors. The board is appointed by the Government of India in keeping with the Reserve Bank of India Act. • Appointed/nominated for...
Words: 2000 - Pages: 8
...THE UNIVERSITY OF BURDWAN DIRECTORATE OF DISTANCE EDUCATION TERM PAPER ON CORPORATE GOVERNANCE PRACTISE BY DIFFERENT COMPANIES OF INDIA AND OTHER COUNTRIES. COURSE: MASTERS IN BUSINESS ADMINISTRATION PAPER: BUSINESS LAWS AND CORPORATE GOVERNANCE. PAPER CODE: MBD 107. SEMESTAR: 1ST SUBMITTED BY SOUMYA KANTI BOSE ENROLLMENT NO: DDE/MBA/JUL2013/14. REGISTRATION NO: APPLIED FOR. SESSION: JULY 2013 - JUNE 2015. INDEX PARTICULARS | PAGE NO | Introduction | 03 | Objectives of Study | 03 | World Scenario in Corporate Governance | 03 | Indian Scenario in Corporate Governance | 03-04 | Corporate Governance Practices By State Bank of India, India | 04-05 | Corporate Governance Practices By Axis Bank Ltd, India | 05-13 | Corporate Governance Practices by National Australia Bank, NAB | 13-18 | Corporate Governance By HSBC, London | 19-23 | Conclusion | 23 | Reference | 23 | Introduction: The issue of corporate governance has come up mainly in the wake up economic reforms characterized by liberalization and deregulation. Corporate governance has at its backbone a set of transparent relationships between an institution’s management its board, shareholders and other stakeholders. Corporate governance has come up mainly in the wake up of economic reforms characterized by liberalization and deregulation. According to OECD, the corporate governance structure specifies the distribution of rights and responsibilities among different participants in the corporation...
Words: 8238 - Pages: 33
...the institute of cost accountants of india(ICAI) (A Statutory body under an act of parliament) SYLLABUS 2012 STRUCTURE & contents Evaluation Synthesis ANALYSIS ANALYSIS APPLICATION APPLICATION COMPREHENSION COMPREHENSION COMPREHENSION KNOWLEDGE KNOWLEDGE KNOWLEDGE LEVEL A LEVEL B LEVEL C FOUNDATION COURSE - Syllabus 2012 the institute of cost accountants of india(ICAI) (A Statutory body under an act of parliament) SYLLABUS 2012 STRUCTURE & contents The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) Page 1 FOUNDATION COURSE - Syllabus 2012 The Following table lists the learning objectives and the verbs that appear in the syllabus learning aims and examination question. Learning objectives Level A COMPREHENSION What you are expected to understand List Make a list of. State Express, fully or clearly , the details/ facts of. Define Give the exact meaning of. Communicate the key features of. Distinguish Highlight the differences between. Explain Make clear or intangible/state the meaning or purpose of. Identify Recognise, establish or select after consideration. Illustrate What you are expected to know Definition Describe KNOWLEDGE Verbs used Use an example to describe or explain something. The Institute of Cost Accountants of India (Statutory Body under an Act of Parliament) ...
Words: 18528 - Pages: 75
...finished products. This large and ancient industry has carved out a special niche for itself as a facilitator of the county’s economic growth and participative development. Textile industry in India is a highly versatile sector, with smaller firms providing flexibility needed for smaller orders; the larger firms have the capacity to service the world’s biggest buyers. The Government of India has also undertaken several favourable policy initiatives, which have resulted in the growth of the sector. “Indian textile industry contributes about 14 per cent to industrial production, 4 per cent to the country’s gross domestic product (GDP) and 16.63 per cent to export earnings,” as per Ministry of Commerce and Trade, India. Major destination for Indian garment exports The USA is the number one destination for the exports of Indian apparels. During 2011, the garment imports to the USA from world were around US$ 81.51 billion. India exports garments of worth US$ 3.53 billion to the USA, which accounts for 4.33 per cent share in the USA’s total garment imports. AEPC: An official body of apparel exporters Apparel Export Promotion Council (AEPC) is an official body of apparel exporters in India. The body provides invaluable assistance to Indian exporters as well as international buyers who select India as their preferred sourcing destination for garments. AEPC initiative: DISHA Several western countries like the USA, have raised...
Words: 18280 - Pages: 74
...“A STUDY ON BANK AUDITING” BACHELOR OF COMMERCE BANKING & INSURANCE SEMESTER V (2013-14) SUBMITTED BY: ANERI SHAH ROLL NO - 88 PROJECT GUIDE: PROF. SONALI DEOGIRIKAR K.J SOMAIYA COLLEGE OF ARTS,& COMMERCE, VIDYAVIHAR (EAST), MUMBAI-400077 K.J.SOMAIYA COLLEGE OF ARTS, & COMMERCE, VIDYAVIHAR (EAST), MUMBAI – 400077 PROJECT ON: “A STUDY ON BANK AUDITING” BACHELOR OF COMMERCE (B&I) SEMISTER V (2013-2014) Submitted In Partial Fulfillment of the requirements For the Award of the Degree of Bachelor of Commerce- Banking & Insurance By Ms. ANERI SHAH ROLL NO.88 K.J.SOMAIYA COLLEGE OF ARTS, & COMMERCE, VIDYAVIHAR (EAST), MUMBAI-400077 CERTIFICATE This is to certify that Ms.ANERI SHAH of B.com. Banking & Insurance Semester V (Academic Year) 2012-2013 has successfully Completed Project on “A STUDY ON BANK AUDITING” under the guidance of PROF.SONALI DEOGIRIKAR (Mrs.SMITA DAYAL) (Dr.SUDHA VYAS) Course co-ordinator Principal INTERNAL EXAMINER EXTERNAL EXAMINER (Mrs. SONALI DEOGIRIKAR) Project Guide DECLARATION I, Ms. ANERI SHAH the student of B.com - Banking & Insurance - Semester V (2013-2014) hereby declares that I have completed Project on “A STUDY ON BANK AUDITING”. Wherever the data/information has been taken from any book or other sources have been mentioned in bibliography. The information submitted is true and original to the best of my knowledge. Student’s Signature Ms. ANERI SHAH (ROLL...
Words: 15830 - Pages: 64
...PREM PRAKASH 102, North Avenue, New Delhi -110001, India, Ph: +919013433199, Email: premprakash9@gmail.com EDUCATION INDIAN RETAIL SCHOOL, New Delhi, India (2005-2006) Full Time 1 yr PG Course (Retail Management) TIT & S, BHIWANI, Haryana, India, (1996-2000) B. Tech (Textile Technology) Captain - Table Tennis Team, Vice Captain - Cricket Team, Associate Editor - College Magazine, Member of Dramatics Society EXPERIENCE June 09 – Present I. P. RANGERS PVT LTD Asst. Vice President – Business Development One of India’s fastest growing export surplus companies in the organized retail sector, with more than 60 stores spread across 36 cities across the country. • Responsible for overall retail business in aspects of P&L, Sales & Marketing, Operations, Budget & Cost Control. • Managing operations of all stores across India & identification of new locations where new business can be established. • Controlling expenses & fixing budget for various overheads for maximising revenue & optimum utilization of resources. • Planning & launching of new stores across India. • Inventory Management, Pricing strategy & Man Power planning. • Monitoring sales performance, category wise sales analysis, analysing...
Words: 662 - Pages: 3
...conduct in business b) Direct or indirect concerns in the organization c) A manufacturing system d) None of the above 2. The term corporate governance is derived from the__________. a) Greek word b) English word c) French word d) Latin word 3. The definition “Corporate Governance is the system by which business directed and controlled” is given by a) SEBI committee b) OECD committee c) Cadbury committee d) All of the above 4. Internal control is implemented by the________. a) Board of directors b) Audit committee c) Management d) All of the above 5. OECD stands for_______________ 6. Which of the following have the power to hire fire and compensate the top management? a) Board of directors b) Audit committee c) Shareholders d) Management 7. CII stands for _________________ Examination Paper of Certified Corporate Governance Professional 2 IIBM Institute of Business Management 8. The managers are expected to act in the interest of: a) Audit committee b) Stakeholders c) Employees d) Customers 9. To endorse the organization strategy, develop directional policy, appoint, supervise and remunerate senior executives and to ensure accountability of the organization to its owners and authorities is the responsibility of: a) CEO b) Manager c) Top management d) Board of directors 10. SEBI stands for_________________ 11. The role of corporate governance is_______ a) To ensure the efficient use of...
Words: 2426 - Pages: 10
...RELIANCE INDUSTRIES LIMITED Report on Corporate Governance Corporate Governance is based on the principles of integrity, fairness, equity, transparency, accountability and commitment to values. Good governance practices stem from the culture and mindset of the organisation. As shareholders across the globe evince keen interest in the practices and performance of companies, Corporate Governance has emerged on the centre stage. Over the years, governance processes and systems have been strengthened at Reliance. In addition to complying with the statutory requirements, effective governance systems and practices inter alia towards transparency, disclosures, internal controls and promotion of ethics at work-place have been institutionalised. Reliance recognises that good Corporate Governance is a continuing exercise and reiterates its commitment to pursue highest standards of Corporate Governance in the overall interest of all the stakeholders. For implementing the Corporate Governance practices, Reliance has a well defined policy framework consisting of the following : Reliance’s values and commitments policy Reliance’s code of ethics Reliance’s business policies Reliance’s policy for prohibition of insider trading A detailed programme of ethics management These policies and their effective implementation underpin the commitment of the Company to uphold highest principles of Corporate Governance consistent with the Company’s goal to enhance shareholder...
Words: 17381 - Pages: 70
...INTRODUCTION: This case is about cultural management and organizational structure and control. It reveals the challenges faced by Western managers in telling Eastern managers the need to improve their performance. The Firm is a consulting firm with locations all over the world. It provides a range of business advisory services including taxation and accounting audits and recovery and management consulting. Mr. Alfonso Farquar was recruited by the Firm to conduct a review of the performance of some of the Firm’s Asian practices. After review of this case there are many problems related to cross-cultural management and organizational structure and control. Had the Firm researched these cultural differences Farquar could have approached the review with more knowledge and the project could have been supported. ANALYSIS: In reviewing this case numerous problems are revealed; cross-cultural management and organizational structure and control. Alfonso Farquar was recruited by Mr. David Mossman to travel to Taiwan and India to review their practices and find reasons for their slow market growth. He was advised to transfer a “best practice” approach to Business development to the Asian practices. After completing his evaluations of the Asian practices he was to report his findings to Mr. Honeysuckle. Although Farquar had never traveled overseas, never met any of these executives and was excited about the opportunity, he failed to understand the cross-cultural differences...
Words: 2073 - Pages: 9
...Satyam is a company that specializes in information technology, business services, computer software, and is a leading outsourcing company in India. The company grew quickly during the 1990s and 2000s as more and more companies around the world looked to India for outsourcing solutions. It eventually became the fourth largest outsourcing company in India. Satyam provides solutions to approximately 185 Fortune 500 companies throughout the world. The business community recognized Satyam as a global leader in information technology outsourcing. Satyam was as an example of India's growing success. It won numerous awards for innovation, governance, and corporate accountability. Unfortunately, less than five months after winning the Global Peacock Award which is a World Council for Corporate Governance, Satyam became the centerpiece of a massive accounting fraud. As stock markets around the world collapsed during 2008, the Indian Stock Exchange fell enormously. The enormous losses caused investors to withdraw large amounts of cash from their investments. These cash withdrawals in turn triggered the discovery of several cases of financial fraud as perpetrators could no longer hide the results. Mr. Raju, the founder of Satyam, and the company's global head of internal audit used a number of different techniques to perpetrate the fraud. He created numerous bank statements to advance the fraud and falsified the bank accounts to inflate the balance sheet with cash balances...
Words: 618 - Pages: 3
...in the fashion world, has been deemed as a womans dream brand, serving as the yardstick of what is palatable for most of the women nowadays. Victorias Secrets collections consist of barely-there pieces that push up our assets and enhance our beauty. From lacy, racy little numbers that will have the men drooling to cute, feminine combinations that are comfortable and flirty, Victoria's Secret has something for every type of person and personal preference. The Victoria's Secret label encourages women to show off their bodies. They do this by designing amazing pieces that show off what we like about our bodies and hide what we don't. What would we do without a label like this? This is my contribution to introduce a women's dream brand in India where individuals are increasingly considering good dressing, Victoria makes a difference. BRAND HERITAGE Ronald Raymond had an idea to make lingerie shopping a more “personalized” experience. He came up with this concept after having a bad lingerie shopping experience in a dept. store Raymond's store in Stanford Shopping Mall had wood-paneled walls, Victorian details and helpful sales staff. He stressed personalization above all else. The original “Victoria” was imagined to be a sophisticated, elegant, and well-traveled English woman who preferred luxurious items. VS still uses Raymond's concept of personalization and describes the brand as sophisticated and elegant. CORE VALUES The customer rules!: Fulfilling customer needs. Passion...
Words: 2297 - Pages: 10
...Indiatimes|The Times of India|The Economic Times| More |Log In|Join| Stocks ------------------------------------------------- Top of Form NewsStock Quote Bottom of Form ------------------------------------------------- Top of Form | | Bottom of Form | | Home News Markets IPO Personal Finance Mutual Funds Tech Jobs Opinion Features Blogs Slideshows ET PortfolioET SpeedET NOW Stocks Market Live Regulation Global Markets Forex IPOs/FPOs/Rights issues Bonds Money Markets Commodities Real Estate Analysis Market NewsStocks in NewsViews/RecommendationsStock QuotesMarket Calendar You are here: ET Home » Markets » Stocks » Stock Quotes » KCP Sugar & Industries Corporation Ltd. » Directors report * Summary * Prices * Financials * Reports * Company Info * News * Competitors * ET Buzz Tracker New Directors ReportChairman's SpeechFinished Products KCP Sugar & Industries Corporation Ltd. BSE: 533192NSE: KCPSUGINDEQ58888: kcpsi IND: SugarISIN code: INE790B01024SECT: Sugar BSELIVE03:40 PM | 26 Apr 2013 18.00 Change: -0.25(-1.37%)Volume: 4,357 Open: 18.35Prv. Close: 18.25 Today: 17.95 52-Wk: 14.50 18.35 26.00 Bid: 0.00(0) Offer: 0.00(0) NSELIVE03:31 PM | 26 Apr 2013 18.05 Change:-0.25(-1.37%)Volume: 17,561 Open: 18.25Prv. Close: 18.30 Today 17.80 52-Wk 14.70 18.50 26.05 Bid: 0.00(0) Offer: 0.00(0) You can view full text of the Director's Report for KCP Sugar & Industries...
Words: 2927 - Pages: 12
...History Satyam Computer services Limited an Information Technology Company was founded in 1987 by Ramalinga Raju. The company is based in Hyderabad, India and was the fourth largest software exporter in India until January 2009. As one of the largest software company, Satyam traded in the Bombay Stock Exchange, the national Stock Exchange and New York Exchange. Satyam grew rapidly with customers stretching over 66 countries and was ranked at 185th on the Fortune 500 companies list. In 2008, Satyam received the the Global Peacock Award for global excellence in corporate accountability. Satyam continued to grow even when stock markets around the world were collapsing. In December 2008, Mr. Raju wanted to merge Matyas a real-estate company with Satyam. Matyas a company owned by his family was a complete diversity from the software company. Raju and his family owned a lot more shares in Matyas than they did in Satyam. The merge caused investors to question Mr. Raju’s intentions. The stockholders objected to the merge and the idea was aborted. However, the damage had already been done. The investors had lost faith and Satyam’s stocks plunged to an unbelievable low. Ironically, the word Satyam means Truth in Sanskrit and as the world watched the truth about Raju started to unravel. Fraud is Uncovered In October of 2008, World Bank fired Satyam and restrictions were put in place against the company from bidding for eight years. World Bank alleged that that Satyam had placed spy...
Words: 4845 - Pages: 20
...Section‐B Case Study: A Bill with A Class Act The role of a well‐functioning financial market is to create conditions wherein the savings in the economy can be smoothly channelized into investments. To make this transmission smooth and attractive for all stakeholders, it’s important that everyone plays by the rules. So, the rules have to be well defined and the interests of all stakeholders adequately protected. Stock markets in India are regulated and monitored by the Securities and Exchange Board of India (SEBI). Its mandate is to work for the betterment of the market and protect investors’ interest. SEBI constantly works towards improving the rules and laws governing the stock markets and this year was no different. It made several changes in areas such as compliance by listed companies, improving the quality and presentation of information for investors at the time of public issues, and making the grievance redressal system more investor friendly. However, the most important change of the year was the passage of The Companies Act, 2013, which will bring in significant changes in the way companies function and is likely to better protect the interest of shareholders. Among other things, the new law provides details for the buyout of the minority shareholders and simplifies the rules for mergers. The most notable idea of the Act is the provision for class action suit. Shareholders and depositors in a company can now hold the management accountable in case of wrongdoing...
Words: 3885 - Pages: 16
