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Introduction:
The first bank in India, though conservative, was established in 1786. From
1786 till today, the journey of Indian Banking System can be segregated into
three distinct phases. They are as mentioned below:

• Early phase from 1786 to 1969 of Indian Banks

• Nationalization of Indian Banks and up to 1991 prior to Indian banking
sector Reforms.
• New phase of Indian Banking System with the advent of Indian
Financial & Banking Sector Reforms after 1991.

Banking structure of India:

Development Financial Institution (DFI):
INDUSTRIAL FINANCE CORPORATION OF INDIA Ltd (IFCI)

IFCI was established under IFCI Act 1948 during July 1948 as India’s first
development bank. The main objective for which IFCI was established, are to
make medium and long term credit available to the industrial undertakings
and to assist them in creation of industrial facilities.
Its functions include:
-direct financial support (by way of rupee term loans as well as foreign
currency loans) to industrial units for undertaking new projects, expansion,
modernisation, diversification etc.
-subscription and underwriting of public issues of shares and debentures.
-guaranteeing of foreign currency loans and also deferred payment
guarantees.
-merchant banking, leasing and equipment finance

During 1994, IFCI was converted into a joint-stock company and came out
with a public issue of shares. It is managed by a Board of Directors. It floated
institutions such as TFCI, ICRA etc.

INDUSTRIAL CREDIT AND INVESTMENT CORPORATION OF INDIA (ICICI)

ICICI was set up during 1955 as a private company with a view to provide
support to industry in India by way of rupee and foreign currency loans,
particularly the private international investment and World Bank funds to
assist the industry in the country in private sector.
It functions include:
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-assistance to industrial undertakings for new projects, expansion,

modernisation, diversification etc. in the shape of rupee loans or foreign
currency loans.
-subscription and underwriting of capital issues
-guaranteeing the payment for credits.
-merchant banking, equipment leasing and project counselling.

It floated a number of institutions successfully which include credit rating

agency CRISIL, ICICI Banking Corporation, SCICI (since merged with it) a
Mutual Fund etc. During Sept 1998 it changed its name to ICICI Ltd.

Of late, it has started providing working capital support to industrial

undertakings.

INDUSTRIAL DEVELOPMENT BANK OF INDIA (IDBI)

IDBI is the apex institution in the area of long term industrial finance. It was
established under the IDBI Act 1964 as a wholly owned subsidiary of RBI and
started functioning on July 01, 1964. Under Public Financial Institutions Laws
(Amendment) Act 1976, it was delinked from RBI. IDBI is engaged in direct
financing of the industrial activities as well as in re-finance and re-
discounting of bills against finance made available by commercial banks
under their various schemes.

The objectives of this institution are to create a principal institution for long
term finance, to coordinate the institutions working in this field for planned
development of industrial sector, to provide technical and administrative
support to the industries and to conduct research and development activities
for the benefit of industrial sector.

Commercial Banks: For working capital

Non-banking financial company: Balancing equipment

A non-banking financial company (NBFC) is a company registered under the
Companies Act, 1956 of India and is engaged in the business of loans and
advances, acquisition of shares/stock/bonds/debentures/securities issued by
government or local authority or other securities of like marketable nature,
leasing, hire-purchase, insurance business, chit business, but does not
include any institution whose principal business is that of agriculture activity,
industrial activity, sale/purchase/construction of immovable property.[2]
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NATIONAL BANK FOR AGRICULTURE AND RURAL

DEVELOPMENT (NABARD)

NABARD, an apex development bank, was set up on the

recommendations of CRAFICARD Committee on July 12, 1982 under
NABARD Act 1981 with a capital of Rs.100 crore contributed by Central
Govt. and RBI, with its main office in Mumbai, by merging the Agriculture
Credit Dept and Rural Planning and Credit Cell of RBI and took over the
entire functions of Agriculture Refinance and Development Corporation
(ARDC).

NABARD is managed by Board of Directors consisting of Chairman,

Managing Director other directors.

NABARD raises funds through National Rural Credit - Long Term

operations, National Rural Credit-Establishment fund, through bonds and
debentures guaranteed by Central Govt, borrowing from RBI, Central
Govt. or any other organisation approved by Central Govt and funds from
external sources.

It credit functions include providing credit to agriculture, small and village

and cottage industries through banks by way of refinance facilities to
commercial banks, RRBs, Coop Banks, Land Development Banks and
other Financial Institutions like KVIC. Its developmental functions are co-
ordination of various institutions, acting as agent of Govt. and RBI,
providing training and research facilities. The regulatory functions include
inspection of RRBs and Coop Banks, receipt of returns and making of
recommendations for opening new branches.

SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA (SIDBI)

SIDBI was established under SIDBI Act 1988 and commenced its operations
wef April 02, 1990 with head quarters in Lucknow and branches all over the
country, as a subsidiary of IDBI. Its functions include:
-administration of SIDF and NEF for development and equity support to small
and tiny industry.
-Providing working capital through single window scheme
-providing refinance support to banks/development finance institutions.
-undertaking direct financing of SSI units.
-coordination of functions of various institutions engaged in finance to SSI
and tiny units.
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RBI (established under RBI Act, 1934, Nationalized, 1949)

Main Functions:

In short: Monetary functions: Clearing function, Banker’s bank

Supervisory functions: Licensing function, inspection, managing

foreign exchange transactions.

Promotional functions: Establishment of development institutions,

training banks

Mone ta ry A utho rity:

• Formulates, implements and monitors the monetary policy.

• Objective: maintaining price stability and ensuring adequate flow of credit to
productive sectors.

Reg ul a t or a nd sup erv iso r of the fina ncia l system :

• Prescribes broad parameters of banking operations within which the country''s

banking and financial system functions.
• Objective: maintain public confidence in the system, protect depositors'' interest
and provide cost-effective banking services to the public.
• Regulator and supervisor of the payment systems
o Authorises setting up of payment systems
o Lays down standards for operation of the payment system
o Issues direction, calls for returns/information from payment system
operators.

Ma na g er of Foreig n Excha ng e

• Manages the Foreign Exchange Management Act, 1999.

• Objective: to facilitate external trade and payment and promote orderly
development and maintenance of foreign exchange market in India.

I ssuer of currenc y:

• Issues and exchanges or destroys currency and coins not fit for circulation.
• Objective: to give the public adequate quantity of supplies of currency notes and
coins and in good quality.

D evel op m e nta l role

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• Performs a wide range of promotional functions to support national objectives.

Rel a t ed Functio ns

• Banker to the Government: performs merchant banking function for the central and
the state governments; also acts as their banker.
• Banker to banks: maintains banking accounts of all scheduled banks.

Top

O ffi c es

• Has 4 regional offices ,15 branches and 5 sub-offices.

T ra i ni ng Esta b lishm en ts

Ha s si x tra ining esta b lis hm e nts

• Three, namely, College of Agricultural Banking, Bankers Training College and

Reserve Bank of India Staff College are part of the Reserve Bank
• Others are autonomous, such as, National Institute for Bank Management, Indira
Gandhi Institute for Development Research (IGIDR), Institute for Development and
Research in Banking Technology (IDRBT)

For details on training establishments, please check their websites links which are
available in Other Links.

Sub si d ia r ies

Fully owned: National Housing Bank(NHB), Deposit Insurance and Credit Guarantee
Corporation of India(DICGC), Bharatiya Reserve Bank Note Mudran Private
Limited(BRBNMPL)

Majority stake: National Bank for Agriculture and Rural Development(NABARD).

Monetary Policy:
What is Bank rate? Bank Rate is the rate at which central bank of the
country (in India it is RBI) allows finance to commercial banks. Bank Rate is a
tool, which central bank uses for short-term purposes. Any upward revision in
Bank Rate by central bank is an indication that banks should also increase
deposit rates as well as Prime Lending Rate. This any revision in the Bank
rate indicates could mean more or less interest on your deposits and also an
increase or decrease in your EMI.
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What is Bank Rate? (For Non Bankers): This is the rate at which
central bank (RBI) lends money to other banks or financial institutions. If
the bank rate goes up, long-term interest rates also tend to move up, and
vice-versa. Thus, it can said that in case bank rate is hiked, in all
likelihood banks will hikes their own lending rates to ensure and they
continue to make a profit.

What is CRR? The Reserve Bank of India (Amendment) Bill, 2006 has
been enacted and has come into force with its gazette notification.
Consequent upon amendment to sub-Section 42(1), the Reserve Bank,
having regard to the needs of securing the monetary stability in the country,
can prescribe Cash Reserve Ratio (CRR) for scheduled banks without any
floor rate or ceiling rate. [Before the enactment of this amendment, in terms
of Section 42(1) of the RBI Act, the Reserve Bank could prescribe CRR for
scheduled banks between 3 per cent and 20 per cent of total of their
demand and time liabilities].

RBI uses CRR either to drain excess liquidity or to release funds needed for
the economy from time to time. Increase in CRR means that banks have less
funds available and money is sucked out of circulation. Thus we can say that
this serves duel purposes i.e. it not only ensures that a portion of bank
deposits is totally risk-free, but also enables RBI to control liquidity in the
system, and thereby, inflation by tying the hands of the banks in lending
money.

What is CRR (For Non Bankers) : CRR means Cash Reserve Ratio.
Banks in India are required to hold a certain proportion of their deposits in
the form of cash. However, actually Banks don’t hold these as cash with
themselves, but deposit such case with Reserve Bank of India (RBI) /
currency chests, which is considered as equivlanet to holding cash with
themselves.. This minimum ratio (that is the part of the total deposits to
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be held as cash) is stipulated by the RBI and is known as the CRR or Cash
Reserve Ratio. Thus, When a bank’s deposits increase by Rs100, and if the
cash reserve ratio is 9%, the banks will have to hold additional Rs 9 with
RBI and Bank will be able to use only Rs 91 for investments and lending /
credit purpose. Therefore, higher the ratio (i.e. CRR), the lower is the
amount that banks will be able to use for lending and investment. This
power of RBI to reduce the lendable amount by increasing the CRR, makes
it an instrument in the hands of a central bank through which it can control
the amount that banks lend. Thus, it is a tool used by RBI to control
liquidity in the banking system.

What is SLR? Every bank is required to maintain at the close of business

every day, a minimum proportion of their Net Demand and Time Liabilities as
liquid assets in the form of cash, gold and un-encumbered approved
securities. The ratio of liquid assets to demand and time liabilities is known
as Statutory Liquidity Ratio (SLR). Present SLR is 24%. (reduced w.e.f.
8/11/208, from earlier 25%) RBI is empowered to increase this ratio up to
40%. An increase in SLR also restrict the bank’s leverage position to pump
more money into the economy.

What is SLR ? (For Non Bankers) : SLR stands for Statutory Liquidity
Ratio. This term is used by bankers and indicates the minimum
percentage of deposits that the bank has to maintain in form of gold, cash
or other approved securities. Thus, we can say that it is ratio of cash and
some other approved to liabilities (deposits) It regulates the credit growth
in India.

What are Repo rate and Reverse Repo rate?

Repo (Repurchase) rate is the rate at which the RBI lends shot-term
money to the banks. When the repo rate increases borrowing from RBI
becomes more expensive. Therefore, we can say that in case, RBI wants to
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make it more expensive for the banks to borrow money, it increases the repo
rate; similarly, if it wants to make it cheaper for banks to borrow money, it
reduces the repo rate

Reverse Repo rate is the rate at which banks park their short-term excess
liquidity with the RBI. The RBI uses this tool when it feels there is too much
money floating in the banking system. An increase in the reverse repo
rate means that the RBI will borrow money from the banks at a higher rate
of interest. As a result, banks would prefer to keep their money with the RBI

Interbank Lending rates:

The interbank lending market is an institution for banks to lend money to each
other. For example, the interbank overnight lending market is where depository
institutions buy or sell funds so they may meet reserve requirements.[1]. Such loans
are made at the interbank rate (also called overnight rate). Low transaction
volume in the interbank lending market is a major contributing factor to the global
financial crisis of September-October 2008.

Refer pdf for commercial bank roles:

6.00% (w.e.f.
Bank Rate
29/04/2003)

Increased from
5.00% to 5.50% wef
13/02/2010; and then
6.00% (w.e.f.
Cash Reserve Ratio (CRR) again to 5.75% wef
24/04/2010)
27/02/2010; and now
to 6.00% wef
24/04/2010
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Increased from 24%

25%(w.e.f. which was
Statutory Liquidity Ratio (SLR)
07/11/2009) continuing since.
08/11/2008

4.50% Increased from

4.00% which was
Reverse Repo Rate (w.e.f. continuing since
(27/07/2010) 02/07/2010

5.75% Increased from 5.50%

which was
Repo Rate under LAF (w.e.f. continuing since
27/07/2010) 02/07/2010

Open market operations:

Open market operations are the means of implementing monetary policy by
which a central bank controls the short term interest rate and the supply of base
money in an economy, and thus indirectly the total money supply. This involves
meeting the demand of base money at the target rate by buying and selling
government securities, or other financial instruments. Monetary targets such as
inflation, interest rates or exchange rates are used to guide this implementation

For commercial bank functions refer pdf

Guarantee:

Bid Bond Guarantee:

A bank guarantee of a specified value issued by the seller to guarantee that

the seller will not withdraw his bid from the tendering process, typically 2 %
of quotation price.

Financial Bank Guarantee:

Financial Bank Guarantee is a bond which is not cancelable and ensures the
payment of the interest and repayment of the principal amount as per the
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schedule agreed upon by both the borrower and the lender. A guarantor to
this debt security is liable to pay off the liability in case the first party or the
issuer of the Financial Bank Guarantee fails to make the payment.

Performance Bank Guarantee:

The seller issues a Performance Bank Guarantee to ensure or give concrete
commitment to the buyer through its bank. This method ensures the buyer
the timely execution of an agreement to have the goods exported or
delivered or services performed. In case the seller defaults on execution of
the terms agreed upon the Performance Bank Guarantee ensures the buyer
the payment of the guarantee amount by the issuing bank. Generally the
performance Bank guarantee

Advances:

Lien:

In law, a lien (UK: /ˈliːən/; US: /ˈliːn/) is a form of security interest granted over an
item of property to secure the payment of a debt or performance of some other
obligation. The owner of the property, who grants the lien, is referred to as the
lienor and the person who has the benefit of the lien is referred to as the lienee.
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Negative Lien:

The borrower (usually a joint stock company0 when gives an undertaking in favour
of the creditor banker that he will not create any charge in or will not encumber the
security without the permission from the creditor banker is known as negative lien.

Equitable mortgage

An equitable mortgage can arise in two different ways – either as a legal mortgage which was
never perfected by conveying the underlying assets, or by specifically creating a mortgage as an
equitable mortgage. A mortgage over equitable rights (such as a beneficiary's interests under a
trust) will necessarily exist in equity only in any event.

Under the laws of some jurisdictions, a mere deposit of title documents can give rise to an
equitable mortgage.[23] With respect to land this has now been abolished in England,[24] although
in many jurisdictions company shares can still be mortgaged by deposit of share certificates in
this manner.

Generally speaking, an equitable mortgage has the same effect as a perfected legal mortgage
except in two respects. Firstly, being an equitable right, it will be extinguished by a bona fide
purchaser for value who did not have notice of the mortgage. Secondly, because the legal title to
the mortgaged property is not actually vested in the secured party, it means that a necessary
additional step is imposed in relation to the exercise of remedies such as foreclosure (although in
the recent case of Alfa Telecom Turkey Limited v Cukurova Finance International Limited
HCVAP 2007/027, heard in the Eastern Caribbean Court of Appeal as to matters of English law
(and so currently subject to appeal to the Privy Council), it was held that an equitable mortgagee
could enforce security over financial collateral (in this case shares) by informing the interested
mortgagor and other interested parties of the fact without first taking possession of shares or
having his ownership interest recorded in the register

English mortgage

It is a kind of a mortgage, where the possession of the property from the mortgagor
is transferred absolutely to the mortgagee i.e the mortgagee now has the actual
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possession of the property till a CERTAIN SPECIFIED DATE and can retain the
possession till the time the mortgagor pays back al his dues. The mortgagee can
also make improvements on the land as a prudent man would have on his own
discretion and any additional increments or costs shall be borne by the mortgagor.
Thus, the mortgagor is liable to clear his dues and along with it, has to also pay off
additional costs to the mortgagee.

MSME Lending:

Funded:

Term loans:

Term Loans are the counter parts of Fixed Deposits in the Bank. Banks lend money
in this mode when the repayment is sought to be made in fixed, pre-determined
installments. This type of loan is normally given to the borrowers for acquiring long
term assets i.e. assets which will benefit the borrower over a long period (exceeding
at least one year). Purchases of plant and machinery, constructing building for
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factory, setting up new projects fall in this category. Financing for purchase of
automobiles, consumer durables, real estate and creation of infra structure also
falls in this category.

Working Capital financing:

Pre-Sale

Cash Credit: This account is the primary method in which Banks lend money
against the security of commodities and debt. It runs like a current account except
that the money that can be withdrawn from this account is not restricted to the
amount deposited in the account. Instead, the account holder is permitted to
withdraw a certain sum called "limit" or "credit facility" in excess of the amount
deposited in the account.
Cash Credits are, in theory, payable on demand. These are, therefore, counter part
of demand deposits of the Bank.

Overdraft: The word overdraft means the act of overdrawing from a Bank
account. In other words, the account holder withdraws more money from a
Bank Account than has been deposited in it.

How does this account then differ from a Cash Credit Account?
The difference is very subtle and relates to the operation of the account. In
the case of Cash Credit, a proper limit is sanctioned which normally is a
certain percentage of the value of the commodities/debts pledged by the
account holder with the Bank. Overdraft, on the other hand, is allowed against
a host of other securities including financial instruments like shares, units of
mutual funds, surrender value of LIC policy and debentures etc. Some
overdrafts are even granted against the perceived "worth" of an individual.
Such overdrafts are called clean overdrafts.

Line of credit: An arrangement between financial institutions, usually a bank and

a customer that establishes a maximum loan balance that the bank will permit the
borrower to maintain. The borrower can draw down on the line of credit at any time,
as long as he or she does not exceed the maximum set in the agreement.
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Post-Sale

Bill Discounting:

Bill discounting is a major activity with some of the smaller Banks. Under this
type of lending, Bank takes the bill drawn by borrower on his(borrower's)
customer and pay him immediately deducting some amount as
discount/commission. The Bank then presents the Bill to the borrower's
customer on the due date of the Bill and collect the total amount. If the bill is
delayed, the borrower or his customer pays the Bank a pre-determined
interest depending upon the terms of transaction.

Bill Purchasing:

Financing of money in transit supplied by the bank with the export bill as the
mortgage as required by the exporter after delivers the goods and
presents the documents requested by the letter of credit or the contract.

·Export bill purchase business has the following scope: the export bill
purchase under the letter of credit and the export bill purchase under the
documentary collection; the foreign currency export bill purchase and RMB
export bill purchase.

MSME Credit Appraisal

Tandon Committee A study group set up by the Reserve Bank of India (RBI) in
1974, to examine the then prevailing system of WORKING CAPITAL financing
by banks and to make suitable recommendations on the same.

The contribution of the committee, headed by Prakash Tandon, that stands

out relates to :

The framing of norms for INVENTORY and receivables for 15 major industries.

Determining the amount of permissible bank finance.

The committee suggested norms, i.e., ceilings for inventory and receivables,
which could be considered for bank finance. The 15 industries included cotton
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and synthetic textiles, paper, cement, pharmaceuticals and engineering. Thus,

for instance, the norms proposed for the pharmaceutical industry were :

Raw materials : 2.75 months' consumption

Stocks in process : 1/2 month's cost of production
Finished goods : 2 months' cost of sales
Receivables : 1.25 months' sales

Mortgage:

Equitable Mortgage:

An equitable mortgage can arise in two different ways – either as a legal mortgage which was
never perfected by conveying the underlying assets, or by specifically creating a mortgage as an
equitable mortgage. A mortgage over equitable rights (such as a beneficiary's interests under a
trust) will necessarily exist in equity only in any event.

Under the laws of some jurisdictions, a mere deposit of title documents can give rise to an
equitable mortgage.[23] With respect to land this has now been abolished in England,[24] although
in many jurisdictions company shares can still be mortgaged by deposit of share certificates in
this manner.

Legal Mortgage:

A legal mortgage arises when the assets are conveyed to the secured party as
security for the obligations, but subject to a right to have the assets reconveyed
when the obligations are performed.[8] This right is referred to as the "equity of
redemption". The law has historically taken a dim view of provisions which might
impede this right to have the assets reconveyed (referred to as being a "clog" on
the equity of redemption), although the position has become more relaxed in recent
years in relation to sophisticated financial transactions.

English Mortgage:

Where the mortgagor binds himself to repay the mortgage money on a certain date, and transfers the
mortgaged property absolutely to the mortgagee, but subject to a proviso that he will re-transfer it to the
mortgagor upon payment of the mortgage money as agreed, the transaction is called an English
mortgage.
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Retail Lending:
Loan to Value ratio:
The loan-to-value (LTV) ratio expresses the amount of a first mortgage lien as a
percentage of the total appraised value of real property. For instance, if a borrower
wants $130,000 to purchase a house worth $150,000, the LTV ratio is
$130,000/$150,000 or 87%.(LTV)

Floating interest rate:

A floating interest rate, also known as a variable rate or adjustable rate, refers to any type of
debt instrument, such as a loan, bond, mortgage, or credit, that does not have a fixed rate of
interest over the life of the instrument.

Such debt typically uses an index or other base rate for establishing the interest rate for each
relevant period. One of the most common rates to use as the basis for applying interest rates is
the London Inter-bank Offered Rate, or LIBOR (the rates at which large banks lend to each
other).

In business and finance, a floating rate loan (or a variable or adjustable rate loan)
refers to a loan with a floating interest rate. The total rate paid by the customer
"floats" in relation to some base rate, to which a spread or margin is added (or more
rarely, subtracted). The term of the loan may be substantially longer than the basis
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from which the floating rate loan is priced; for example, a 25-year mortgage may be
priced off the 6-month prime lending rate.

Interest rate swap:

A swap is a derivative in which one party exchanges a stream of interest payments
for another party's stream of cash flows. Interest rate swaps can be used by
hedgers to manage their fixed or floating assets and liabilities. They can also be
used by speculators to replicate unfunded bond exposures to profit from changes in
interest rates. Interest rate swaps are very popular and highly liquid instruments.

Credit scores:

A credit score is a numerical expression based on a statistical analysis of a person's credit files,
to represent the creditworthiness of that person. A credit score is primarily based on credit report
information, typically sourced from credit bureaus.

Lenders, such as banks and credit card companies, use credit scores to evaluate the potential risk
posed by lending money to consumers and to mitigate losses due to bad debt. Lenders use credit
scores to determine who qualifies for a loan, at what interest rate, and what credit limits. Lenders
also use credit scores to determine which customers are likely to bring in the most revenue. The
use of credit or identity scoring prior to authorizing access or granting credit is an
implementation of a trusted system.
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Project Appraisal:
What Does Interest Coverage Ratio Mean?
A ratio used to determine how easily a company can pay interest on outstanding debt. The interest
coverage ratio is calculated by dividing a company's earnings before interest and taxes (EBIT) of one
period by the company's interest expenses of the same period:

What Does Debt-Service Coverage Ratio - DSCR Mean?

1. In corporate finance, it is the amount of cash flow available to meet annual interest and principal
payments on debt, including sinking fund payments.

2. In government finance, it is the amount of export earnings needed to meet annual interest and principal
payments on a country's external debts.

3. In personal finance, it is a ratio used by bank loan officers in determining income property loans. This
ratio should ideally be over 1. That would mean the property is generating enough income to pay its debt
obligations.

In general, it is calculated by:

Net operating income/ (debt installment+ interest)
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NPA:
Gross NPA:
Net NPA = Gross NPA – (Balance in Interest Suspense account + DICGC/ECGC
claims received and held pending adjustment + Part payment received and kept in
suspense account +Total provisions held).

Deposit Insurance and Credit Guarantee Corporation

(DICGC):

DICGC is a wholly owned subsidiary of the Reserve Bank of India, Since 1962, it is engaged in
providing deposit insurance for depositors of banks against loss of part or all of their deposits
arising from bank failures. Deposit Insurance is compulsory as well as automatic for the bank
and thus no bank can remain uninsured by the DICGC except those cooperative banks where the
concerned State Governments are yet to pass the required legislation. The purpose of this
brochure is to explain the deposit insurance coverage that DICGC provides.

Export Credit Guarantee Corporation of India (ECGC):

Export Credit Guarantee Corporation of India Limited, was established in the year 1957 by the
Government of India to strengthen the export promotion drive by covering the risk of exporting
on credit.

Provides a range of credit risk insurance covers to exporters against loss in export of goods and
services
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Offers guarantees to banks and financial institutions to enable exporters to obtain better facilities
from them

Provides Overseas Investment Insurance to Indian companies investing in joint ventures abroad
in the form of equity or loan

Working Capital Assesment:

To be studied by the pdf.

Suspense A/C:

In accountancy, a suspense account is an account used temporarily to carry doubtful receipts

and disbursements or discrepancies pending their analysis and permanent classification.