MANAGEMENT Management is simply the process of decision making and control over the action of human beings for the express purpose of attaining pre-determined goals” FUNCTIONS OF MANAGEMENT Regardless of the type of the industry, the functions involved in an organization, or the organizational level at which one functions; every manager has to perform certain basic managerial functions. KOONTZ AND O’DONNELL explained five functions of management. They have become widely accepted functions of management everywhere. They are:-  PLANNING ORGANIZING STAFFING DIRECTING CONTROLLING ..read more

INTRODUCTION Management principles are the statements of fundamental truth based on logic which provides guidelines for managerial decision making and actions. A principle means a fundamental truth on the basis of reasoning, a primary element of general law. HENRY FAYOL  has given the fourteen principles of management. He has made a distinction between management principles and management elements. Management principles is a fundamental truth and establish cause-effect relationships while management element denotes the function performed by a merger. HISTORY: HENRI FAYOL HENRI ..read more

BANKING OMBUDSMAN SCHEME The banking ombudsman scheme enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks. The banking ombudsman scheme is introduced under section 35 A of the banking regulation Act. 1949 by RBI with effect from 1995. RBI introduced a banking ombudsman scheme in the country on 14th June 1995 for giving solutions for customer complains.Banks can send their complaints to this ombudsman if concerned banks fail to satisfy them. This ombudsman scheme will take action and ensure relief to ..read more

UTI  (Unit trust of India) The unit trust of India(UTI) was established on 1st February 1964 under the ‘’Unit Trust of India Act, 1963’’ by the government of India. UTI set up on 26th Nov 1963 after an act passed in 1962.It was effective from 1st July 1964.The objective of UTI is to mobilize the small savings of the people for their suitable and profitable investment.UTI are open-end investment as they sell their shares units continuously in order to raise additional capital. Redeem their shares (repurchase) to ensure high liquidity. UTI 1  has been named as the administrator of the s ..read more

NABARD (National bank for agriculture & rural development). National bank for agriculture and rural development, more popularly known as NABARD was established by an ACT of parliament on 12th July 1982 to implement the national bank for agriculture and rural development act, 1981. It replaced the agricultural credit department (ACD) and rural planning and credit cell (RPCC) of reserve bank of India, and agriculture refinance and development corporation (RDC). SOME FACTS: NABARD ·       ARC- Agricultural refinance corporations 1963. ·       It is the apex banking institution ..read more

RRB (Regional Rural Bank) Meaning: RRB RRBs are oriented towards meeting the needs of the weaker sections of the rural population consisting of small & marginal farmers, agricultural laborers, artisans & small entrepreneurs. RRB: Some Important Facts Regional rural bank was established on 2nd Oct 1975 under the provisions of RRB act 1976 with a view to develop the rural economy. It was established to take banking services to the doorstep of rural masses, especially in remote rural areas with no access to banking services. It also provides institutional credit to weak ..read more

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