There are various factors which every company will be considering for recruiting.
WORK EXPERIENCE
BRAND NAME OF THE COLLEGE
ACADEMICS
EXTRA CURRICULAR CERTIFICATES
WORK EXPERIENCE
BRAND NAME OF THE COLLEGE
ACADEMICS
EXTRA CURRICULAR CERTIFICATES
BANKING INDIA
Thanks : Dheeraj K Antony (SSIM - Hyderabad)
Banking
Commercial Banking – An Overview:
Definition of Banking, Core Definition, business that can be undertaken and can not be undertaken by Banks in India.
Definition of Banking:
Banking has been defined in section 5 (b) of Banking Regulation Act,1949 as “ Accepting, for the purpose of lending or investment of deposits of money from the public, repayable on demand or otherwise, and withdrawable by cheque, draft, order or otherwise.
Section 5C defines a Banking Company as “ any company which transacts the business of banking in India”
The salient feature of the above definition are:
A Banking company must perform both of the essential functions i.e. accepting deposits and lending or investing the same
The Bank accepts deposits from anyone who offers his/her money for such purpose subject to the KYC norms
The time and mode of withdrawal of deposit – it is repayable on demand by the depositor or according to the agreement reached between the Bank and Depositor. This means that the Bank does not refund the money deposited on its own, even if the period for which it was deposited expires. The depositor must make a demand for the same
The act also specifies that the withdrawal should be effected through an order, cheque, draft or otherwise. This implies that the demand should be made in a proper manner and through an instrument in writing and not merely by verbal order.
Name must include the word Bank, Banker or Banking. Section 7 of the act makes it essential for every company carrying on the business of banking in India to use as part of its name at least one of the words – bank, banker, banking or banking company
•BUSINESS OF BANKS
•According to section 6, the following business may be undertaken by a banking company:
•A) Bulk of a bank’s activities and main functions:
•Borrowing or raising or taking money (Deposits)
•Lending or advancing of money either upon security or without security
•Drawing, making, accepting, discounting, buying, selling, collecting and dealing in bills of exchange, hundis, promissory notes, coupons, drafts, bills of lading, railway receipts, warrants, debentures, certificates, scripts and other instruments and securities whether transferable or negotiable or not
•Granting and issuing of letters of credit, travellers’ cheques and circular notes
•Buying, selling and dealing in bullion and specie
•Buying and selling of foreign exchange including foreign bank notes
•Acquiring, holding, issuing on commission, underwriting and dealing in stock, funds, shares, debentures, bonds, obligations, securities and investments of all kinds
•Purchasing and selling of bonds, scrips and other forms of securities on behalf of constituents or others
•Negotiating of loans and advances
•Receiving of all kinds of bonds, scrips or valuables on deposit or for safe custody or otherwise
•Providing safe deposit vaults and
•Collecting and transmitting on money and securities
•B) It may act as an agent of the Government, local authority or person and can carry on agency business but it can not act as secretary or treasurer of a company
•C) It may contract for public and private loans and negotiate and issue the same
•D) It may effect, insure, guarantee, underwrite, participate in managing and carrying out of any issue of State, municipal or other loans or of shares, stock, debenture stock of companies and may lend money for the purpose of any such issue
•E) It may carry on and transact every kind of guarantee and indemnity business
•F) It may manage, sell and realize any property which may come into its possession in satisfaction of its claims
•G) It may acquire and hold and deal with any property or any right, title or interest in any such property which may form the security for any loan or advance
•H) It may undertake and execute trusts
•I) It may undertake the administration of estates as executor, trustee or otherwise
•J) It may establish, support and aid, associations, institutions, funds, trusts, etc., for the benefit of its present or past employees and may grant money for charitable purposes
•K) It may acquire, construct and maintain any building for its own purpose
•L) It may sell, improve, manage, develop, exchange, lease, mortgage, dispose of all or any part of the property and rights of the economy
•M) It may acquire and undertake the whole or any part of the business of any person or company, when such business is of a nature described in Sec. 6(1)
•N) It may do all such things which are incidental or conducive to the promotion or advancement of the business of the company
•O) It may undertake any other form of business which the Central Government may specify as a form of business in which it is lawful for a banking company to engage. Recently the Govt., of India has issued a notification specifying insurance as permissible form of business that could be undertaken by banks.
•Business prohibited for a Banking Company
•Section 8 prohibits a banking company from engaging directly or indirectly in trading activities and undertaking trading risks. No banking company shall directly or indirectly deal in buy or selling or bartering of goods or engage in any trade or buy, sell or barter goods for others. A Banking Company is permitted to so for the following purposes:
•To realize the securities given to it or held by it for a loan, if need arises for the realization of the amount lent
•To buy or sell or barter for others in connection with i) bills of exchange received for collection or negotiation, and ii) undertaking the administration of estates as executor, trustee, etc (under section 6(1)(i)
•Goods mean every kind of movable property other than claims, stocks, shares, money, bullion and specie and all instruments referred to in clause (a) of sub-section (1) of Section 6
•Section 9 of the act prohibits a banking company from holding any immovable property howsoever acquired, except as is required for its own use, for a period exceeding 7 years from the acquisition and for 12 years with permission from RBI. It has to dispose of such property.
TQM MIDSEM 2010
1. Zero defects – It means that company should stop expecting any defects from employee.
Zero Defects, pioneered by Philip Crosby, aims to reduce and minimise the number of defects and errors in a process and to do things right the first time.
The ultimate aim will be to reduce the level of defects to zero. The overall effect of achieving zero defects is the maximisation of profitability.
More recently the concept of zero defects has lead to the creation and development of six sigma pioneered by Motorola and now adopted worldwide by many other organisations.
The concept of zero defects can be practically utilised in any situation to improve quality and reduce cost.
Advantages of Zero Defects
Cost reduction caused by a decrease in waste. This waste could be both wasted materials and wasted time due to unnecessary rework
Cost reduction due to the fact that time is now being spent on only producing goods or services that are produced according to the requirements of consumers.
Building and delivering a finished article that conforms to consumer requirements at all times will result in increased customer satisfaction, improved customer retention and increased profitability.
Possible to measure the cost of quality
Disadvantages of Zero Defects
A process can be over engineered by an organisation in its efforts to create zero defects. Whilst endeavouring to create a situation of zero defects increasing time and expense may be spent in an attempt to build the perfect process that delivers the perfect finished product, which in reality may not be possible.
2. Some of the TQM benefits are customer loyalty, cost savings, higher productivity, higher profitability, improved processes, improved employee morale and positive work environment.
3. Control charts are statistical process control tools used to determine whether or not a manufacturing or business process is in a state of statistical control.
4.A run chart is a graph that displays observed data in a time sequence. Often, the data displayed represent some aspect of the output or performance of a manufacturing or other business process.
5. The check sheet is a simple document that is used for collecting data in real-time and at the location where the data is generated. The document is typically a blank form that is designed for the quick, easy, and efficient recording of the desired information, which can be either quantitative or qualitative
7. Poka Yoke : Japanese term that means "mistake-proofing". A poka-yoke is any mechanism in a lean manufacturing process that helps an equipment operator avoid (yokeru) mistakes (poka). Its purpose is to eliminate product defects by preventing, correcting, or drawing attention to human errors as they occur.The concept was applied in Toyota Production System.
8.Scatter Diagram ca be used to determine if there is correlation between two characteristics. Correlation implies that as one variable changes, the other also changes. Although this may indicate a cause and effect relationship, this is not always the case, since there may be a third characteristic (or many more) that are actually the cause, and both the characteristics of interest are the effect.
1. Cause and Effect diagram
Example of Car Failure has been adopted..
2.What Is a Pareto Chart?
• Bar chart arranged in descending order of height from left to right
• Bars on left relatively more important than those on right
• Separates the "vital few" from the "trivial many" (Pareto Principle)
Why Use a Pareto Chart?
• Breaks big problem into smaller pieces
• Identifies most significant factors
• Shows where to focus efforts
• Allows better use of limited resources
4. Deming's 14 points
1.Create constancy of purpose towards improvement of product and service , with the aim to become competitive , stay in business and provide jobs1
2.Adopt the new philosophy .
3.Cease dependence on inspection to achieve quality (defect prevention and continous improvement )
4.End the practise of awarding business on basis of price tag (suppliers)
5.Improve constantly and forever the system of production and service to improve quality ,thus constantly decrease cost
6.Institute training on jobs
7.Institute leadership
8.Drive out fear so that everyone may work effectively for the company
9.Break down barriers between departments
10.eliminate slogans,exhortations and targets for the work force that ask for improvements without providing methods
11.eliminate work standards ( numerical) on factory floor and management by objective(number goals ).Substitute by leader ship
12.Remove objectives that rob the pride of workmanship from a worker ( merit rating MOB )
13.Institute a vigorous program of education and self improvement .
14.Take action to accomplish the transformation
5. Quality Function Deployment ( QFD )
QFD is a scientific technique for translating the voice of the customer into development of products and services. It is a complete product planning process as opposed to problem solving and analysis. The technique was invented by Akashi Fukuhara of Japan and first applied with very good results at Toyota.
Business is usually started because their founders recognize a customer need and believe that they can satisfy it better than other companies. At the time of fresh start, the product may be unique to the industry and have competitive advantages.
No matter how effectively a company meets the initial needs of the customers, it must remain constantly alert and responsive to the changing needs of the customers. Because if the company is not responsive to these changing needs, the passage of time will erode the early competitive advantages.
QFD - Customers Voice
The whole process of the QFD can be linked to GIGO ( Garbage in garbage out ). This is because, if the voice of the customer has not been captured properly, the final product will also not be the one actually desired by the market place. It is therefore extremely important to capture the correct voice of the customer before taking any other step in the QFD planning process. We will explain this by the forthcoming example of new car development.
6. Crosby’s 14 steps to quality improvement
MANAGEMENT COMMITMENT - Top-level view on quality shown to all employees.
THE QUALITY IMPROVEMENT TEAM - To pursue the quality regime throughout the business.
QUALITY MEASUREMENT - Analysis of business quality performance in a meaningful manner, for example late deliveries, budgeted to actual sales/deliveries/costs/etc. Keep it simple for all to understand.
THE COST OF QUALITY - Make sure everyone in the business understands the need for a quality system, and the costs to the business if there is no quality system in place.
QUALITY AWARENESS - Make everyone in the business aware of the impact of quality systems.
CORRECTIVE ACTION - Ensure a system is in place for analyzing defects in the system and applying simple cause and effect analysis, to prevent re-occurrence.
ZERO DEFECTS PLANNING - Look for business activities to which zero defect logic should be applied.
SUPERVISOR TRAINING - Get your supervisors trained in both quality logic and zero defect appreciation which they can apply to their business activities.
ZERO DEFECTS DAY - A quality event by which all members of the effected section become aware that a change has taken place.
GOAL SETTING - Once a change has been implemented in a section of the business, the next step is to get the employees and supervisors in that section to set goals for improvement to bring about continuous improvement.
ERROR CAUSE REMOVAL - Communication process by which management are made aware that set goals are difficult to achieve in order for either the goals to be reset or help given by management to achieve the goals.
RECOGNITION - Management must recognize the employees who participate in the quality schemes.
QUALITY COUNCILS - Using both specialist knowledge and employee experiences to bring about a focused approach to business quality regime.
DO IT OVER AGAIN - Continuous improvement means starting from the beginning again and again.
Sources :
http://wc1.smartdraw.com/examples/
http://www.qualityamerica.com/
wikipedia.org
http://www.managers-net.com/
http://www.saferpak.com/
http://www.ifm.eng.cam.ac.uk
Zero Defects, pioneered by Philip Crosby, aims to reduce and minimise the number of defects and errors in a process and to do things right the first time.
The ultimate aim will be to reduce the level of defects to zero. The overall effect of achieving zero defects is the maximisation of profitability.
More recently the concept of zero defects has lead to the creation and development of six sigma pioneered by Motorola and now adopted worldwide by many other organisations.
The concept of zero defects can be practically utilised in any situation to improve quality and reduce cost.
Advantages of Zero Defects
Cost reduction caused by a decrease in waste. This waste could be both wasted materials and wasted time due to unnecessary rework
Cost reduction due to the fact that time is now being spent on only producing goods or services that are produced according to the requirements of consumers.
Building and delivering a finished article that conforms to consumer requirements at all times will result in increased customer satisfaction, improved customer retention and increased profitability.
Possible to measure the cost of quality
Disadvantages of Zero Defects
A process can be over engineered by an organisation in its efforts to create zero defects. Whilst endeavouring to create a situation of zero defects increasing time and expense may be spent in an attempt to build the perfect process that delivers the perfect finished product, which in reality may not be possible.
2. Some of the TQM benefits are customer loyalty, cost savings, higher productivity, higher profitability, improved processes, improved employee morale and positive work environment.
3. Control charts are statistical process control tools used to determine whether or not a manufacturing or business process is in a state of statistical control.
4.A run chart is a graph that displays observed data in a time sequence. Often, the data displayed represent some aspect of the output or performance of a manufacturing or other business process.
5. The check sheet is a simple document that is used for collecting data in real-time and at the location where the data is generated. The document is typically a blank form that is designed for the quick, easy, and efficient recording of the desired information, which can be either quantitative or qualitative
7. Poka Yoke : Japanese term that means "mistake-proofing". A poka-yoke is any mechanism in a lean manufacturing process that helps an equipment operator avoid (yokeru) mistakes (poka). Its purpose is to eliminate product defects by preventing, correcting, or drawing attention to human errors as they occur.The concept was applied in Toyota Production System.
8.Scatter Diagram ca be used to determine if there is correlation between two characteristics. Correlation implies that as one variable changes, the other also changes. Although this may indicate a cause and effect relationship, this is not always the case, since there may be a third characteristic (or many more) that are actually the cause, and both the characteristics of interest are the effect.
1. Cause and Effect diagram
Example of Car Failure has been adopted..
2.What Is a Pareto Chart?
• Bar chart arranged in descending order of height from left to right
• Bars on left relatively more important than those on right
• Separates the "vital few" from the "trivial many" (Pareto Principle)
Why Use a Pareto Chart?
• Breaks big problem into smaller pieces
• Identifies most significant factors
• Shows where to focus efforts
• Allows better use of limited resources
4. Deming's 14 points
1.Create constancy of purpose towards improvement of product and service , with the aim to become competitive , stay in business and provide jobs1
2.Adopt the new philosophy .
3.Cease dependence on inspection to achieve quality (defect prevention and continous improvement )
4.End the practise of awarding business on basis of price tag (suppliers)
5.Improve constantly and forever the system of production and service to improve quality ,thus constantly decrease cost
6.Institute training on jobs
7.Institute leadership
8.Drive out fear so that everyone may work effectively for the company
9.Break down barriers between departments
10.eliminate slogans,exhortations and targets for the work force that ask for improvements without providing methods
11.eliminate work standards ( numerical) on factory floor and management by objective(number goals ).Substitute by leader ship
12.Remove objectives that rob the pride of workmanship from a worker ( merit rating MOB )
13.Institute a vigorous program of education and self improvement .
14.Take action to accomplish the transformation
5. Quality Function Deployment ( QFD )
QFD is a scientific technique for translating the voice of the customer into development of products and services. It is a complete product planning process as opposed to problem solving and analysis. The technique was invented by Akashi Fukuhara of Japan and first applied with very good results at Toyota.
Business is usually started because their founders recognize a customer need and believe that they can satisfy it better than other companies. At the time of fresh start, the product may be unique to the industry and have competitive advantages.
No matter how effectively a company meets the initial needs of the customers, it must remain constantly alert and responsive to the changing needs of the customers. Because if the company is not responsive to these changing needs, the passage of time will erode the early competitive advantages.
QFD - Customers Voice
The whole process of the QFD can be linked to GIGO ( Garbage in garbage out ). This is because, if the voice of the customer has not been captured properly, the final product will also not be the one actually desired by the market place. It is therefore extremely important to capture the correct voice of the customer before taking any other step in the QFD planning process. We will explain this by the forthcoming example of new car development.
6. Crosby’s 14 steps to quality improvement
MANAGEMENT COMMITMENT - Top-level view on quality shown to all employees.
THE QUALITY IMPROVEMENT TEAM - To pursue the quality regime throughout the business.
QUALITY MEASUREMENT - Analysis of business quality performance in a meaningful manner, for example late deliveries, budgeted to actual sales/deliveries/costs/etc. Keep it simple for all to understand.
THE COST OF QUALITY - Make sure everyone in the business understands the need for a quality system, and the costs to the business if there is no quality system in place.
QUALITY AWARENESS - Make everyone in the business aware of the impact of quality systems.
CORRECTIVE ACTION - Ensure a system is in place for analyzing defects in the system and applying simple cause and effect analysis, to prevent re-occurrence.
ZERO DEFECTS PLANNING - Look for business activities to which zero defect logic should be applied.
SUPERVISOR TRAINING - Get your supervisors trained in both quality logic and zero defect appreciation which they can apply to their business activities.
ZERO DEFECTS DAY - A quality event by which all members of the effected section become aware that a change has taken place.
GOAL SETTING - Once a change has been implemented in a section of the business, the next step is to get the employees and supervisors in that section to set goals for improvement to bring about continuous improvement.
ERROR CAUSE REMOVAL - Communication process by which management are made aware that set goals are difficult to achieve in order for either the goals to be reset or help given by management to achieve the goals.
RECOGNITION - Management must recognize the employees who participate in the quality schemes.
QUALITY COUNCILS - Using both specialist knowledge and employee experiences to bring about a focused approach to business quality regime.
DO IT OVER AGAIN - Continuous improvement means starting from the beginning again and again.
Sources :
http://wc1.smartdraw.com/examples/
http://www.qualityamerica.com/
wikipedia.org
http://www.managers-net.com/
http://www.saferpak.com/
http://www.ifm.eng.cam.ac.uk
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