A Study on Job Rotation with special reference to Syndicate Bank

Increasing productivity, new product development, creativity and cutting time to market require a stable and productive work force. The stability and productivity of the work force can be dramatically increased by ensuring that every employee is challenged and excited about their job. Employee turnover and the associated loss of tacit and explicit knowledge disrupt team effectiveness and also slow product development.

An effective way of reducing turnover is a well thought out job rotation programme. Job Rotation Programmes (JRP) can not only reduce turnover but they also increase learning, and provide depth and strength of knowledge in the organization. Rotation programmes are more common in the development of top executives but there are also many reasons to use them for technical and new hire positions.

Since late 1980’s Job Rotation has been developed and mainstreamed as an active labor market tool in Denmark. Job Rotation originated in Denmark as a collaborative development amongst trade unions, employers and training institutes.

Many successful companies encourage rapid job rotation. Some have informal programmes while some have it as an essential part in their company’s employee development strategy.
Job rotation is where an individual is moved through a schedule of assignments designed to give that individual a breadth of exposure to the entire operation. The term job rotation can also mean the scheduled exchange of persons in offices, especially in public offices.

The word ‘Bank’ is used in the sense of a commercial bank. It is of Germanic origin though some person trace it origin to French word ‘Banqui’ and the Italian word ‘Banca’. It referred to a bench for keeping lending and exchanging of money lenders and money chargers. There was no such word as banking before 1640. All though the practice of safe keeping and saving flourished in the temple of Babylon as earlier as 2000 B.C. Chanakya in his Arthashastra written in about 300 B.C. mentioned about the existence of Merchant of Bankers who received deposits advanced loans and hundise.

The 1st bank in India was the ‘Bank of Hindustan’ started in 1770 by Alexander and co., an English agency house in Kolkata which failed in 1782 with the closer of the agency house. But the 1st bank in the modern sense was established in the Bengal presidency as the Bank of Bengal in 1806.

Merchant bankers issued ‘Hundis’ to remit funds in India such Merchant bankers were known as Seth’s. The next stage in the growth of banking was the Goldsmith he started charging something for taking care of the money and bullion.

The next stage in the growth of banking is the money lenders, the goldsmith found that on an average the withdrawal of coins were much less than the deposits with him. So he started advancing the coins on loan by charging interest as a safeguard he kept some money in the reserve thus the goldsmith –money lenders became a banker who started performing the 2 functions of modern banking that of accepting deposit and advancing loan.


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A Study on Investment Pattern of Investors on Different Products

An investment refers to the commitment of funds at present, in anticipation of some positive rate of return in future. Today the spectrum of investment is indeed wide. An investment is confronted with array of investment avenues. Among all investment, investment in equity is in best high proportion. This is because the history of stock market is booming and bursts overnight millionaires, an instant pauper.

Indian economy is doing indeed well in recent years. The study has been undertaken to analyze the investment pattern of investment community. The main reasons behind the study are the factors like income, economy condition, and the risk covering nature of the Indian investors. The percentage of Indian investors investing in the Indian equity market is very less as compared to foreign investors.

This study has been undertaken in Asit C. Mehta Investment Interrmediates Ltd. (ACMIIL), which was incorporated in the year 1986. And the company, which is, diversified into many fields like securities, insurance, distribution, commodities and investment services.

This project contains the investors’ preferences and as well as the different factors that affect investors decision on the different investment avenues most of them investors are the clients of Asit C. Mehta Investment Interrmediates Ltd., which provides a complete bouquet of products in equity, debt, commodities, forex, depository, derivatives and allied services in India .

This study includes response of investor in choosing securities in each classification and analysis has been for the respective performance based on their returns. The findings relates to the outperforming products and investors risk taking ability while investing in each different products.
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A Study on Investment Behavior of Women Investors

Financial investment is the purchase of a financial security, such as a stock, bond, or mortgage. Investment in human capital is spending on education, training, health services, and other activities that increase the productivity of the workforce. It is the use of money for the purpose of making more money, to gain income, increase capital, or both. The purchasing of stocks, bonds, mutual funds, options, real estate, etc., made with the expectation of future income or capital gains is investment.

As a woman, and an investor, shaping of financial future is as important as the many other roles they play in life. That's why taking control today is essential for realizing their dreams for tomorrow. Whether women are just beginning to develop their investment strategy or are refining a current one, it's important to keep in mind that they should build a financial legacy for long term. At various stages of your life, you are faced with important investment and financial decisions. Your success in making these decisions with the help of a sound investment strategy can have a major impact on your income, net worth and, ultimately, quality of life in retirement.

Women today have more earning potential and more influence over financial decisions than ever before. Women represent almost half of the workforce and many businesses are owned or managed by women. Many women influence or control the majority of all consumer purchase decisions and many of the investment decisions. As a result, it is important for women to focus on finances now more than ever.

Throughout their lives, as a woman, they will be faced with different financial challenges than their male counterparts. If women are going to take control of their financial future, it’s important that they recognize those differences and empower themselves.

Earning money is only half the equation for achieving financial independence. Effectively putting your money to work for you is equally important. Though the size of household income matters, how to manage the money women have — to meet short-term obligations as well as long-term goals — determines how they live today and in the future. That's why taking control of their finances is so important. The challenges of investing are unique for each individual. In addition, circumstances are frequently different for women — and whatever choices you make will be better as a result of greater knowledge of the underlying issues and your options.

For this purpose a thorough understanding of financial planning is important for all investors. Financial planning is the process of meeting one’s life goals through the proper management of his/her finances. Life goals can include buying a home, saving for your child's education or planning for retirement. The financial planning process consists of six steps that help people to take a "big picture" look at where they are financially. Using these six steps, women can work out where they are now, what they may need in the future and what they must do to reach their goals.

The process involves gathering relevant financial information, setting life goals, examining current financial status by women and coming up with a strategy or plan for how they can meet their goals given their current situation and future plans. Financial and personal satisfaction is the result of an organized process that is commonly referred to as personal money management or personal financial planning.

Personal financial planning is the process of managing investor’s money to achieve personal economic satisfaction. This planning process allows him/her to control their financial situation. Every person, family, or household has a unique financial position, and any financial activity therefore must also be carefully planned to meet specific needs and goals.

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A project on Grievance Management System

Coffee is one of the healthy drinks among all the beverages. If we think about refreshment, coffee is the first thing comes to our mind. In rainy and winter seasons the usage of coffee is more and it has become a part of human beings life. Caffeine is a substance found in coffee plants, which stimulates the central nervous system.

Before 1200 A.D., the coffee industry had spread along the red sea to Aden and cargo in Ethiopia. Then coffee was sold through Mediterranean Sea. Most pilgrims had started to cultivate coffee in India about 1600 A.D. Large scale coffee cultivation started in Brazil. In 1729 A.D., it produced 200,000 bags and in 1825 A.D., it was 3 million bags. After 80 years, they started coffee export and reached 4 million bags. Brazil coffee market reached surplus because of uncontrolled production and cultivation of coffee. In past 20 years coffee trade from Africa has grown more rapidly than elsewhere and contributed rapidly to the growing surplus. The Central American countries have increased their share to world coffee exports from about 5% in 1990 A.D to about 14% in 1970. This growth had occurred with mild coffees, which command and favorable. The highest consumption of coffee is recorded in the U.S which had about 450 million consumers and the rest of the world about 2450 million consumers.

Today 25 million people worldwide are provided with direct employment in coffee and considering the farmers and the employment effect of coffee related services at least 100 million people depend in coffee as major source of income.

The world coffee production in 1999-2000 forecast at the rate of a 107.5 million bag and that is 14% above the revised 1998-99 crop and up 3% on the previous record of 1997-98. Brazil’s 1998-99 products are forecasted at the rate of 35.8 million bags and Columbia at the rate of 11.0 million bags. These two countries will account for approximately 44% of the world’s production, which is normally 36-37%. North American producing countries including Central America produces 20% of the world’s coffee production.

In  1990,  world  production  was  93  million  bags.  Where  world’s  domestic consumption was 21.5 million bags and world’s exportable production is 71.5 million bags. In 1990 Arabica captures 75.5% of the world production and rest 24.3% followed by Robusta.

Today coffee grown and exported by own to developing countries in the world. It is estimated that in 2002, over 95 million bags of coffee were consumed world wide. Of these, 21.5 million bags were consumed in coffee producing countries themselves while over 73.9 million bags were consumed in importing in 2001, which is followed by countries like German, France, Japan, UAE, and Italy.

Here we have concentrated on coffee, which is considered as a traditional drinks especially in south India. People here start their everyday life with a cup of coffee. Not only in south India but in all parts of the world people are so dependent and addicted to coffee that it acts as a daily schedule to everybody everywhere. But this coffee is not grown in all parts of the world but is grown in very few places with right kind or weather, atmosphere and most important of all, the soil of that region. It is usually grown in hill stations with adequate amount of rainfall and such places, which are high above sea level. Therefore in India, Karnataka is such a place, especially South Karnataka that produces the highest amount of coffee in whole India. Most parts of Karnataka such as Chikmagalur district and many parts in Hassan District, and also Coorg.

So people here feel proud to be citizen of such place where coffee takes its birth. So that being the main reason, I have concentrated on a organization which has its roots spread very vast in coffee industry and is a major player in worlds import/export of coffee and deals in coffee beans curing activities present in Hassan.

Indian coffee industry is defiantly a huge sized industry which plays a very major role in the world market of coffee. India at present is in 8th place in its contribution of coffee and its plantation in the whole world and 1st place being Brazil.

But not all parts of India produces coffee. It is grown mostly in south India and highest part of its growth from the whole India is in Karnataka, that is from districts of Hassan, Chickmagalur and Coorg. Rest is grown in states of Tamilnadu, Andrapradesh, Kerla and other northern parts such as Sikkim and Nagaland.

So as shown in the next table about the quantity of coffee that is produced in the whole India we come to know that the whole output of India is 2.88 lack tones coffee per annul, more than 2 lack tones is grown only in Karnataka and rest in other parts of India as mentioned in the table below. So among 2.06 lack tones of whole Karnataka’s coffee production, ABCTCL has a huge contribution to coffee exports among the many competitors in the same business as mentioned earlier.

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A Study on Formulation of Costing System

Modern business needs frequent cost information about business activities to plan accurately for the future, to control business results and to make a proper appraisal of the performance of persons working in the organization. The fulfillment of these goals requires details about the costs incurred and benefits (revenues) obtained which are provided by “cost accounting”.
Financial accounting is developed over the time to record, summarize and present the financial transactions or events, which can be expressed in terms of money. This function was primarily concerned with record-keeping leading to preparation of Profit and Loss Account and Balance Sheet. The information obtained through financial accounts is useful to the shareholders, creditors, financial analysts, labour union, government authorities etc. However, the information generated by financial accountancy for several purposes is not sufficient for decision making in many areas, such as:

1. Acquisition of plant and machinery or other assets;
2. Determining product selection-addition or dropping or changing product combination in case of multi product company;
3. Determining output level;
4. Determining or revising prices of products;
5. Whether profit earned is optimum as compared with competitors as well as earlier years.

The need of data for such details led to the development of cost accountancy. The Institute of Cost and Management Accountants, London, has defined cost accountancy as the “application of costing and cost accounting principles, methods and techniques to the science, art and practice of cost control and ascertainment of profitability as well as presentation of information for the purpose of managerial decision-making”. Thus, it includes costing, cost accounting, budgetary control, cost control and cost audit.

The Institute of Cost and Management Accountants, London, has defined costing as the ascertainment of costs. Costing includes the “techniques” and “processes” of ascertaining costs. The ‘techniques’ refers to the principles and rules which are applied for ascertaining costs of products manufactured and services rendered. The ‘process’ includes the day to day routine of determining costs within the method of costing adopted by the business enterprise.

The law does not compel to install a costing system. However, the Government has the power to order installation of such system in such industries as the Government may deem fit. The system of costing is installed by the organizations on the grounds of its utility. A system of costing has to be designed to suit the needs of the organization. A good system of costing helps to achieve the objectives. It has the following essentials:
1. Flexibility- The system should have flexibility or adaptability to meet the changing needs of the organization. Expansion or contraction should be adopted with minimum change.
2. Integrated- It should be a well-knit integrated with financial accounting system. The original records are available under financial accounts. The need for co-relation between two cannot be over-emphasized.
3. Promptness- Any information or report is useful only if the same is furnished regularly and without any delay. The Cost Accounting System should ensure this aspect.
4. Accuracy- The system should ensure accurate information. To ensure this, the system should provide checks to verify data compiled in a systematic manner.
5. Smooth flow of data- Coat Accounting needs flow of data from every section in the organization and also reports on the performance of individuals. The objective of this system should be properly explained.
6. Continuous review- The system should be constantly reviewed and supervised, so that it gives what is expected of it. If it is not done, the system may become static.
7. Economy- The system should be economical and should not create financial burden on the organization.
8. Comparability- The system should enable the management to compare the data with the past. It should also facilitate departmental comparison.
9. Reconciliation- The system should facilitate reconciliation between cost accountancy and financial accounting easily.
10. Simplicity- The system should be as simple as possible.
11. Standardization- Forms and procedures under this system should be standardized.
12. Management support- The management at all levels should support the system and in its operations.

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