- PNB plans to raise Rs6,000 crore via bonds (Source: Mint)
- Punjab National Bank said it plans to raise Rs 6,000 crore in tranches from bonds to fund business expansion.
- The board will be considering issuance of Basel III compliant debt instruments — Perpetual Additional Tier I capital bonds worth Rs 3,000 crore and Tier-II bonds of up to Rs 3,000 crore, PNB said in a regulatory filing to stock exchanges. The fund raising is subject to availability of headroom in one or more tranches, it said.
- The board meeting will be held on 14 November, it added. Under the Basel-III norms, AT-1 bonds come with loss absorbency features, meaning that in case of stress, banks can write off such investments or convert them into common equity if approved by the RBI. AT-1 bonds qualify as core or equity capital.
Continue reading “Financial Awareness-November(1-10) 2016”
According to Koontaz and O’ Donnell, “Management is an art of getting things done through and with the people in formally organized group.”
According to Henry Fayol, “To manage is to forecast and to plan, to organize, to command, to co-ordinate and to control.”
Continue reading “Introduction to Management”
1. Finance Ministry to hold meeting with top management of banks tomorrow on NPAs (Source: BS)
Finance Ministry has called a meeting of senior management of banks to discuss the bad loans issue in specific sectors, including steel. The meeting would focus on NPAs in sectors like steel, power, and infrastructure. These three sectors account for the bulk of gross NPAs which surged to 9.32% (Rs 4.76 lakh crore) in 2015-16.
Continue reading “Financial Awareness-October(21-31) 2016”
- Exchanges ready for GIFT city but unclear rules pose hurdle (Source: MINT)
- Stock and commodity exchanges have been signing up to start operations at the Ahmedabad-based Gujarat International Finance Technical (GIFT) city, but a launch is still far away due to unclear regulations.
- GIFT is pegged to be an international financial center on the lines of London and Singapore.
- Currently, the Reserve Bank of India and the Securities and Exchange Board of India (Sebi) have cleared a so-called enabling framework for market participants willing to set up operations. But that is just a starting point and there are no clear guidelines, said senior exchange officials.
- National Stock Exchange of India Ltd (NSE), BSE Ltd and Multi Commodity Exchange (MCX) have all expressed interest to start operations at GIFT. Regulators also need to have guidelines in place for prevention of money laundering, know your client and the extent of foreign investor participation.
Continue reading “Financial Awareness-October(11-20) 2016”
What is accounting?
Identifying a business transaction
- Preparation of Business Documents(Voucher)
- Recording of the transaction in the book of first entry (Journal)
- Sales or Purchase Module
- Relevance with the banking operations
- Posting in the ledger
- Preparation of Trial Balance
- Preparation of Profit and Loss Account and Balance Sheet
Continue reading “Basics of Accounting”
Ø The year 2015 witnessed two landmark international events: the historic climate change agreement under the UNFCCC in Paris in December 2015 and the adoption of the Sustainable Development Goals in September 2015. Continue reading “CLIMATE CHANGE AND SUSTAINABLE DEVELOPMENT”