Banking Finance

The National Union of Banks, Insurance, and Financial Institutions Employees in Kaduna state, Nigeria called on the Presidency to fire the Minister of Agriculture, Dr. Sayyadi Abba Ruma immediately for allegedly undermining the Nigerian Agricultural, Cooperative and Rural Development Bank Limited and the Nigeria’s peasant farmers.

The bank workers alleged that Ruma was gradually killing the bank with his selfish interest with all sorts of uncivilized policies that threatens the survival of the bank also stated that “selfish activities of the minister” have brought untold hardship to millions of Nigerian farmers who relied solely on credit facilities from the Agric bank.

The workers  called for the sack of Ruma and his replacement with “a more focused Nigerian to steer the ship of the Ministry of Agriculture so that the peasant Nigerian farmer would smile again,” adding that the unions were vehemently opposed to the minister’s “draconian rule” over the bank.

The statement jointly signed by NUBIFIE, NACRDB Ltd Chairman, Ade Martins Odigie and the President of the Association of Senior Staff of Banks, Insurance and Financial Institutions, NACRDB Ltd, Bala Waziri, alleged that Ruma whose ministry was not even one of the shareholders of the bank had continued to undermine the bank in addition to running it like his personal estate.

The workers alleged that Ruma’s “atrocities” at the Agric bank included the downsizing in 2008 as over 700 members of staff of the bank were laid off on grounds of unending restructuring exercise that commenced since his appointment.

“Lack of Funding: Since his appointment, no budgetary provision has been made for the bank. Therefore, the bank by extension has been denied of loanable funds.

“Despite the above, monies meant for agriculture and rural farmers are being channeled to the Bank of Industry and other commercial banks for commercial farming.

“While commercial banks enjoy subsidies from the so-called minister, the bank’s interest rate is pegged, without subsidies provided.

“No department in the ministry is supervising the bank other than the minister himself who is clearly displaying prejudice against the bank.

“The minister invited the World Bank to carry out another unending restructuring exercise.

“Presently, the minister has put in place series of committees/study groups working for his own interest despite the fact that he is not a shareholder of the bank.

“Despite all the creations of the minister of agriculture mentioned above (e.g downsizing, World bank, study groups/committees etc.), he has of recent appointed some executive directors to be answerable to him directly.

“We want Nigerians to please note that the bank has an existing Board of Directors with a chairman and chief executive. Besides this, the bank has an article of association under Companies and Allied Matters Act, CAMA.

“The honorable minister should note that NACRDB Ltd is not a personal estate that he can manipulate from his bedroom. There are rules and regulations governing the running of public institutions.

“The selfish activities of the minister have continued to create negative image for the bank in the eyes of the customer and the general public.”

To this end, the bank workers called on the Federal Government and the Office of the Presidency to sack the Minister of Agriculture and save the bank from running into financial crisis that may lead to the banks closure and improve the welfare of farmers.

The comfort and flexibility, which we feel in our day to day life in terms of financial and banking issues, is just because of those people who are working in banks with a zeal that is commendable as it has put in place a system that is safe, extremely simple and what is more lightening quick. We are of course talking about 24 ATMs, Net Banking, Online Share Market Transfers, Easy Availability of Loans, Plastic Money and a reasonably stable interest rates.

There are a bunch of positions and designations in banks say, Bank Clerks, Bank Probationary Officers, loan clerks, loan officers, and loan processors that deal with various parts of loan processes within a bank They have to work fast, compile, and distribute each transaction step by step in a proper manner. Each one them must be an expert in their own area to run the bank smoothly.

If one wants to serve the masses in terms of finance and accounts or any other banking activities, then he or she must appear for Bank Clerk Examination or Bank PO Examination. Today, India has a widespread business infrastructure comprises of various government and private banks. The exams procedure of all banks are dealt in a separate manner for the post of Bank Clerk or Bank PO.

How to prepare for Bank clerk exam and Bank PO exam

There is always a bit of confusion and eagerness among a large number of aspirants about the procedure for preparation for Bank Exams. One of the important things is to know the pattern of the Bank clerk question papers by going through the previous Bank question papers and Bank PO sample Papers. Because these question papers play a crucial role in evaluating your potential and ability. Apart from that, if you go through the previous Bank exam papers properly before appearing in the upcoming test, you can easily crack the Bank PO exams. As this gives you an idea about the exams’ pattern. However, there are a couple of basic things that one should keep in mind while preparing to crack the Bank P.O. question papers. By doing such activities of solving the previous year question papers you will find your self very much clear and confident, which helps you out in easily cracking the Bank exams, as you already have an idea about the exams’ pattern.

The banking industry is booming like anything with quite a number of private international banks and also the government banks, which are also making several efforts to give comfort and flexibility to the mass consumers in terms of home loans, financial security and various life long money saving bonds. So the future of a Banker is very visible and lucrative among all the top IT and highly professional employees of the country.

There is no denying the fact that private and foreign banks are penetrating into the Indian market with great force, as they have a better focus on the implementation of modern technologies and providing convenient banking services to their customers. However, the Public Sector Banks (PSBs) still control almost 80 per cent of the business in the country due to their wide network of branches and thus, a better reach to more and more people. Though RBI encourages entry of new private banks and grants licenses to industrial houses, the Public Sector Banks are way ahead of their private counterparts. The RBI is now even permitting mutual funds, non-banking financial companies, bond houses and insurance companies to borrow funds against corporate funds by allowing the sale and repurchase agreements in corporate debt.

State Bank of India (SBI), Bank of India (BoI), Punjab National Bank (PNB), Allahabad Bank and Central Bank of India are among the leading public sector lenders, while Axis Bank, ICICI Bank and HDFC Bank come in the list of leading private banks in India. The stiff competition within the banks has come out as a boon for the customers who are now witnessing a wide range of options to choose from, right from banks to banking services. Banks in India are now passing through a phase of customers’ market. Gone are the days, when one used to wait for hours before withdrawing cash from his/her bank account. With the rapid advancement of technologies in the sector, one can execute most of his/her account transactions without visiting the branch. Thanks to Internet banking that has made it all possible.

Within a short span of time, there has been an unprecedented rise in the number of individuals using this facility to check their account balances and statements. What more, the user can also make online payment for his/her bills. That means, a complete peace of mind for the customers. No need to say that Internet banking feature saves the customers from unnecessary time-wastage and is nothing short of a big relief for the banks’ customers. Phone banking is another feature that has gained popularity among the Indian masses, which they use to esquire about their accounts. Loans, debit cards, credit cards, insurance and investment plans are among the other services that the banks are providing to their customers and also to lure the new ones.

The Indian banking sector is still in its infancy and has still a long way to go, before it could compete with its Western and European counterparts. Banks in India also managed to tide over the impact of global slowdown and then came out successfully from the Dubai Crisis. In-fact, it won’t be an exaggeration to say that banks in India are going great guns and with the entry of private and foreign banks in the sector, the whole scenario is set to change very soon.

The evolution of Banks all over the world has certainly changed the scope and function of various banking jobs. Banks in the 21st century have become more integrated; technologically more advanced and in turn have opened the doors to a number of new jobs in banking. In India the coming of multinational banks has certainly changed the outlook towards the various jobs that are offered in banking.

The banking industry in India opened up with the growth of the economy. This has specifically led to the growth of retail banking in India. Even though the retail banking sector in India is still way behind the west, according to sources it is all set to grow at the rate of 30% in the next few years. The structural transformations in regulatory frameworks, securitisation policies and tough NPA norms put in place for the banking industry that were put into place in 2004 required banks to adapt to these new policies. Banks that evolved to the demands and put forward customized products and services got a greater foothold in the consumer market.

International banks like HDFC, HSBC, Citibank, Standard Chartered and Deutsche Bank along with several Indian banks like ICICI, State Bank of India and IDBI have opened their doors to a number of career opportunities in banks. The banking industry in India has grown exponentially and has raised its standards to match with the banks around the world.

The transformation that swept across the industry created a requirement for dedicated professionals that focus their skills on specific aspects of the banking industry. Filling the void that was created due to the dynamic nature of banking requires training for a specialized role in the industry that has become a norm and requires individuals aspiring for a career in banking to posses skills that are in tune with the continually evolving banking industry.

Specialization has become a key part for a thriving career in the banking world. A number of academic institutes around India train you for specific roles for a career in the banking industry. The key positions offered in the banking industry in India today include -

Accountants Analysts Human Resources Managers Customer Management Personnel Banking Executives Data Assessment Teams Economists Technological Experts

Even though the levels of education as well as the number of educational institutes that enlighten students on the various banking spheres have increased there still exists a gap between the actual requirements of banks and skill set of individuals. This requires training from organizations that deal with bridging this gap and creating professionals that are completely aware of the requirements of banking industry.

Corporate Connect that is headquartered in New Delhi, India is such an organization that trains professionals to be industry ready and perform right from the outset of their jobs in banks. Corporate Connect equips you with ‘The Power to Do’ through –

Job Fit & Market Ready programs Custom designed course for skill enhancement Practical and industry based course structure Part time programs that allow you to continue your work Guaranteed productivity increasing skills Core processes created by corporate industry veterans of India

In this age of intense competition being market ready is not just an added advantage but a norm that allows you to have a thriving career in banking in India.

Listings of bank foreclosures continue to grow as the number of collapsing small banks continue to rise. According to the Federal Deposit Insurance Corporation, it has just shuttered the 100th failed bank in 2009.

While the country’s largest banks were rescued by billions in taxpayer money, failing small banks were closed and their deposits and other assets were transferred to other banks.

According to bank analysts, the number of failed small banks is still considerably low compared to the overall number of smaller banks throughout the U.S., but the bank closures show the divide between smaller banks and the country’s biggest banks like U.S. Bancorp, JPMorgan Chase and Goldman Sachs, which are growing stronger and bigger.

Analysts cite the high number of bad real property loans as the major factor for the failure of most, if not all, of the 100 banks that have failed so far this year. They expect more small banks to fail and to release more listings of banks foreclosures into the market because of these toxic real estate loans.

The rising number of bank failures has wiped out billions from the FDIC, which has been paying the depositors of failed banks. FDIC said that its over $50-billion fund as of 2007 is now below the safe level. To replenish its fund, it has asked stronger banks to make their insurance payments earlier.

Communities served by small banks are also now feeling the adverse effects of the failure of their banks. Although their deposits are paid by FDIC and their other assets are transferred to the acquiring institutions, they have lost their strong relationships with their bankers and they are now facing new bankers bent on cutting costs and eliminating previous incentives.

Some acquiring banks have closed branches, terminated high-interest deposit accounts, cut off several lines of credit and ended loan programs with favorable terms.

FDIC Chairwoman Sheila Bair explained that bank closures are painful to communities, but failing banks needed to be shuttered early so assets can be preserved, consumers can be protected and financial stability is sustained.

The FDIC expects more bank failures over the coming years, particularly in the Southeast and Midwest where banks made big loans to house builders and developers of strip malls, housing subdivisions and office buildings.

According to Foresight Analytics, around $870 billion of the $1.8 trillion worth of commercial property loans in the U.S. were provided by smaller banks that lack the trading strength of bigger banks, putting them closer to failure and their assets to listings of bank foreclosures.

Banking and business borrowing in Canada is significantly different than in the United States. That is primarily driven by the fact that our banking system is uniquely different. In the U.S., borrowing finance is driven through various entities – which include major ‘ money center banks ‘, Commercial banks, community banks, and what are know as S&L’s, ( savings and loans ). In addition the American landscape is populated by community banks.

The Canadian banking system is different, in that the country has chosen to adopt a more smaller ( by competitor ) banking system that is extremely concentrated and dominated by a handful of major players. Primarily these are:

* RBC ROYAL BANK,
* TD CANADA TRUST,
* CIBC
* BANK OF NOVA SCOTIA,
* BMO BANK OF MONTREAL,
* LAURENTIAN
* NATIONAL BANK OF CANADA

All of these banks support the Canadian Small Business Financing program sponsored by the federal government.

There is a decent sized credit union movement in Canada, and many of these credit unions are making forays into Commercial banking and financing. Many people tend to feel these credit unions have not yet accumulated either the talent or the capital pool to properly play in business banking and commercial lending.

We would point out that some time ago now the government introduced legislation to allow foreign banks to lend in Canada. These banks are known technically as ‘ SCHEDULE B ‘ banks, and are referred to a briefcase bankers in that they do not have the large branch networks that are the domain of our BIG 7 banks as listed above.

Capital for Canadian firms is traditionally much harder to secure in the Canadian banking system. Outside of the aforementioned CSBFL program that is federally underwritten the banks tend to secure small business loans with usually up to 100% of personal collateral. That of course has the customers pledging personal assets, savings, etc. There certainly are no ‘ templates ‘ for fast quick borrowing in the Canadian small business banking. Loan criteria is judiciously adjudicated by underwriters on a case by case basis, and as has been noted, relies heavily on the traditional three C’s of credit -

- character
- capacity
- capital

As the Canadian banks have emerged from the current world economic crisis they do however seem to be placing more focus on smaller firms. For example new divisions for small business banking are being created within some players, seminars and trade shows are being offered, and they often sponsor local events.

Larger firms who in many cases do not meet the requirements of the Canadian banks when it comes to significant borrowing requirements are often forced to consider asset based lending arrangements with Canadian and U.S. commercial finance companies who have stepped in to play a role in this vital area.Even though the larger firms may in fact have been in business a number of years their balance sheets and income statements do not meet the borrowing requirements of the Canadian loan committees. During the 2009 world economic crisis and financial meltdown the Canadian banks were consistently lauded for being some of the best run in the world. However, the downside of this is that ‘ best run ‘ in many cases means risk averse and commercial borrowing in Canada is significantly more difficult than in other countries such as the U.S.

The Canadian banks have distinguished themselves by developing software and technologies that have put them at the forefront of commercial borrowing/lending.

In summary, the Canadian banking system is uniquely structured and Canadian business, both larger and small,should focus on the unique strengths of the system borrowing and banking needs. Not all companies will be successful and business owners should ensure their financial executives or advisors know who can best meet their borrowing needs.

Quick and flowing.?
wasy to make money duh! that arent unjust or nasty resembling prostatution or stealing or robbing a bank. i be just wondering b/c i am going to be a senior and i obligation money to pay for adjectives my crap. so n/e way if possibly anyone knows some…

Wal-mart is taking over the bank industry too?
Reading the article below you can see they are. Pretty soon you will HAVE to spend your money or give some of your money to wal-mart becasue you won’t hold a choice. So where does this cease? A little while…

What are some non-chex systems bank?
I am opening a home business and stipulation a checking account for it, but I can’t appear to open one since I am on chex systems.

What do i entail to widen a buisness mound rationalization?
what do i need to initiate a buisness bank depiction?

Where the best place to dance to capture a small business loan?
You’ve got to shop around. Big bank do business on volume (they’d rather enjoy loan losses than high underwrite and processing costs), small banks, on relationships. Also, contained by many cases (especially when acquire equipment), long-term…

Which mound is best to uncap an international commercial depiction? Doing buisiness surrounded by Italy.?
I’m in the process of select a bank where on earth to open my commercial guard account. I will be doing business surrounded by dollars and Euros. Will be doing business in Italy. …

who can I contact when my employer keep asking me to hold my settle checks or I dont receive them in good time?
employer owes a great deal of taxes, I know alot roughly speaking his business, he doesn’t put all his income within the bank because he have leins on…

Would you have a flutter your bill payments to pursue channel your business?
It’s a sacrifice that is extremely critical. It’s risky but the rewards are great if it works out. If it doesn’t then their could be problems. Anyway, I can’t take bank loans because my credit is not righteous…

Working as a bank clerk at wellsfargo?
I just come back from training final week, but not doing well! my service official asked me what didyou learn at research center??i freez when i am doing transactions and make mess!not doing economically about counting money!i try my best to foot attention…

Writing a business plan?
I’m going to set up my own business but I’m not sure how to start writing a business plan for the bank to see for loan applications. What do I include and What do I depart from out? How do I begin it and how do I…

2nd Question business rationalization versus personal accounts?
Can the bank run money from a joint personal information to pay into a sole trader overdrawn business one? Ceasing trading so it is probably too behind time to move joint commentary to another bank – No proof of income.

Aat book curator?
I’m taking on a book keeper and he’ll be coming if for almost 6 hours a month. He”s going to do the payroll, book keeping and ‘bank rec’?!? He’s quoted me lb125/month, is this expensive or about right? And whats AAT?

Anybody please report me give or take a few ESCROW..? how can i verbs money from ESCROW to other bank..?
i have bid notes entry works in a site. they provide ESCROW for settlement. I dont know about the ESCROW.

Are online job a scam?
I see a lot of ad offering to pay you to hold surveys and etc…and I know some red flags about job such as this like: do not dispense your SSN, bank side, etc… But are all of them scam? Anybody ever do one of…

Bank recovering money owed on a business side?
Sole trader ceasing trading and owing money on a business article. Can the bank clutch money from his sole personal account to put contained by the business one? All the household finances are paid through the personal picture.

Best business to do contained by spare time?
Which is the best business to do in spare time? Hi I am working 8 hrs. Which is the best business to do within a spare time. Some says MLM some say insurance. Credit cards, bank loans? or any other business. Which is…

Best edge for small business?
Which bank is the best for small businesses contained by the Washington DC area? i’m trying to unfold a small business checking in the subsequent couple of hours and associates from both Suntrust and Bank of america are trying to have me unstop it with them….

Business Angels/Invesments?
I am looking for investment for my new Commercial Mortgage Brokers and have need of funding of around lb25,000. I was wondering if you know any “dragons den” type people or any other ways within which to raise investment bar going to a bank. I enjoy a full…

Can anyone bring up to date me almost single glass concept contained by bank?
if someone enjoy any examples he’s also meet.

Can i earn from promoting credit cards of indian bank ?
is within any dune contained by india provide commision to sites for online applications of nearby credit cards

Coin vending device?
Ok.. the bank doesn’t approachable on Sunday and I gotta do my laundry. So should In go to coinstar electrical device and I can exchange paper dollars to coins? Let me know.

Credit Card Terninals: How do they work?
Im so getting a hypercom. but how in the hell do the transactions made step towards my bank information? I want to get a wireless terminal such as the verifone nurit 8000, but how does it do what it say it does? Does…

Does anyone hold a Restaurant business proposal/plan template or a proposal they would liek to bequeath me?
Im within Canada, Trying to achieve a loan/line fo credit/grant to unfold my small restaurant. I enjoy be turned down by bank and told I entail a better proposal. When consulting some relations their…

EBay – How long after you report a book infringement does the information bank come down?
I found a almanac on eBay that I find can be considered a encyclopaedia betrayal. It have some developed content on it that I find should be in the fully developed audience fragment. …

Ebay give a hand!?
I have lately asked a examine going on for ebay and the bank set up. I hold the money pall narrative set up. Just I wasn’t sure if or how i set up a dune sketch? And freshly how the full banking/accounting stuff work. I get an…

Free billing service?
Is there a website which have a free service i can use to charge cutomers on my wapsite and my website. Also, does it allow me to recieve a cheque rather thn own the money transferred to a bank sketch? Is it possible to…

Getting a small business loan?
How do i dance roughly speaking getting a small business loan for start up expensise? Its for used coup sale. I hold gone to bank around here and most of them won’t nouns motor sale. Is in attendance a governmant loan or give in that i…

More small business bank questions please visit : Small-business-FAQ.com