The evolution of money: an outline of six stages I. From tradable utilities to a generalized medium of exchange accepted as the final payment‚ carrying value over time‚ and used to calculate the equivalence in exchanges… This transition seems logical and unavoidable from the present day perspective‚ but its historical origin remains disputed. A common explanation projects the present day assessment of the logical necessity of introducing a generalized medium of exchange on the past‚ which is a
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CHAPTER V PROGRESS OF THE BANKING SECTOR IN INDIA AND THE UNION TERRITORY OF PONDICHERRY. 5‚l Introduction Banks constitute an important segment in financial arena of all countries whether developed or developing or underdeveloped. Economic development of every country depends upon financial sector particularly commercial banks. In fact economic development and financial infrastructure go hand in hand. From time immemorial‚ the conventional banker‚ an indispensable pillar of Indian society
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m-banking Mobile banking and economic development: Linking adoption‚ impact‚ and use Jonathan Donner‚ Microsoft Research India Camilo Andres Tellez‚ London School of Economics and Political Science Reference Information: This is a preprint of an article whose final and definitive form has been published in the Asian Journal of Communication‚ © 2008 Asian Media and Communication Center; available online at informaworldTM at http://www.informaworld.com/openurl?genre=article&issn=01292986&volume=18&issue=4&spage=318
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BRANCHLESS BANKING IN PAKISTAN Submitted To Sir Fida Hussain Bukhari Submitted By Syed Qasim Raza Roll No Mi08Bbba011 Hailey College of Banking & Finance Punjab University ACKNOWLEDGEMENT Words will never be able to express enough my fervent gratitude to almighty Allah‚ the most compassionate and merciful‚ for giving me the courage and fortitude to accomplish this gargantuan task. We are the Holy Prophet’s (PBUH) Ummah and we acknowledge that the Holy Prophet’s (PBUH) moral and
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the Islamic value (haram) On the other hand‚ conventional banking is essentially based on the debtor-creditor relationship between the depositors and the bank on one hand‚ and between the borrowers and the bank on the other. Interest is considered to be the price of credit‚ reflecting the opportunity cost of money. Islamic law considers a loan to be given or taken‚ free of charge‚ to meet any contingency. Thus in Islamic Banking‚ the creditor should not take advantage of the borrower. When
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with not only general information about its services but also the opportunity of performing interactive banking transactions. In electronic banking‚ bank customers can request information and carry out most banking services (e.g. balance reporting‚ inter-account transfers‚ and bill payment) via a telecommunication network without the need to go at the bank’s branch offices. Electronic banking comprises all electronic channels customers use to access their accounts‚ including the Internet and recently
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Federal Reserve Bank of New York Staff Reports Shadow Banking Zoltan Pozsar Tobias Adrian Adam Ashcraft Hayley Boesky Staff Report no. 458 July 2010 This paper presents preliminary findings and is being distributed to economists and other interested readers solely to stimulate discussion and elicit comments. The views expressed in this paper are those of the authors and are not necessarily reflective of views at the Federal Reserve Bank of New York or the Federal Reserve System. Any errors
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Void and Voidable Contract 17/11/2013 INTRODUCTION A contract is an agreement with specific terms between two or more persons or entities in which there is a promise to do something in return for a valuable benefit known as consideration. It is a voluntary‚ deliberate and legally binding agreement which becomes legally valid if meeting of minds exists between the contracting parties and establishment of a legal relation/obligation between the parties for a legal consideration and
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A term paper on Macroeconomic issues “INFLATION TREND IN NEPAL CAUSES AND REMEDIES” (For the partial fulfillment of requirement of MBA program) January‚ 2014 1. What is Inflation?? Inflation is the situation of the market disequilibrium in which prices of most of the goods and services persistently rise and the value of the money fall accordingly for relatively longer period of time. Inflation occurs when the amount of the money the purchaser of goods and services
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INTRODUCTION & HISTORY OF BANKING BANKING [pic] Introduction India cannot have a healthy economy without a sound and effective banking system. The banking system should be hassle free and able to meet the new challenges posed by technology and other factors‚ both internal and external. In the past three decades‚ India’s banking system has earned several outstanding achievements to its credit. The most striking is its
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