what is a review of the literature sushhhhh

7/31/2019 What is a Review of the Literature Sushhhhh

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What is a review of the literature?

A literature review is an account of what has been published on a topic by accredited scholarsand researchers. Occasionally you will be asked to write one as a separate assignment(sometimes in the form of an annotated bibliographysee the bottom of the next page), but

more often it is part of the introduction to an essay, research report, or thesis. In writing theliterature review, your purpose is to convey to your reader what knowledge and ideas have beenestablished on a topic, and what their strengths and weaknesses are. As a piece of writing, theliterature review must be defined by a guiding concept (e.g., your research objective, the problemor issue you are discussing, or your argumentative thesis). It is not just a descriptive list of thematerial available, or a set of summaries

Besides enlarging your knowledge about the topic, writing a literature review lets you gain anddemonstrate skills in two areas

1. information seeking: the ability to scan the literature efficiently, using manual orcomputerized methods, to identify a set of useful articles and books2. critical appraisal: the ability to apply principles of analysis to identify unbiased andvalid studies.

A literature review must do these things

1. be organized around and related directly to the thesis or research question you aredeveloping

2. synthesize results into a summary of what is and is not known3. identify areas of controversy in the literature4. formulate questions that need further research

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LITERATURE REVIEW

IntroductionLiterature review will document the extent of retail banking by commercial banks thathave optedto expand into retail banking as a new line of business. This chapter alsoanalyses the factors thathave enhanced the use of retail banking and the challengesfaced.Retail banking is the cluster ofproducts and services that banks provide to consumersand small businesses through branches,the Internet, and other channels. As thisdefinition implies, banks organize their retail activities

along three complementarydimensions: customers served, products and services offered, and thedeliverychannels linking customers to products and services (Ashcraft, 2005).In banking today,as in other service industries, managers must remain alert toconstant environmental changes, andbe ready to redefine their corporate mission andreformulate their marketing policies, plans andstrategies to meet the needs of theevolving, complex marketplace (Karty and Stewart,2006).Theretail finance sector is currently one of the most competitive in the bankingindustry. However, inorder to succeed in such a dynamic market place, Berry (2006)argues that the skills required tobe a successful retail banker are many and varied:ability to demonstrate a deep understanding of
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consumer needs and revenuegenerating methods, ability to develop new market entry andcustomer retentionstrategies, application of new business models and translating them intorevenuegenerating projects and programmes. A successful product development,effectivedistribution and efficient marketing programme can make a real difference to theretailbanks performance and impact on its bottom line

Difference Between Savings and Current Account

Banking now involves essential choice-making between various different types of accounts

specially instituted for individual needs. There are separate accounts designed for the service

group and more market-based structures for the business class of society. The difference

between a Savings and Current bank account lies in the patronization. . . .

Banking institutions around the world now offer dedicated patrons different accounts for their

exclusive needs. The various types of bank accounts, now operative include:

Individual Savings Account; Current Bank Account; Tax-Exempt Special Savings Account; Low-cost Account; Time Deposit or Certificate of Deposit Account; Negotiable Order of Withdrawal Account; Transaction Deposit Account; Money Market Deposit Account; Overdraft Free Account; Automatic Transfer Service Account; Joint Account; Transactional Account.

The primary difference in these different bank accounts lies in the account balance to be

maintained and the segment of patronage. While most of the bank accounts now operative,

like the savings bank account, cater to individuals, some like the current account, are designedto meet the exclusive needs of the business community. The accounts are all financial

transactions between the customer or business entity and the bank. Both, Savings as well as

Current accounts, earn a positive (debit) balance or a negative (credit) balance throughout the

life of the account. While in the former the bank owes money to the client, in the latter, it is the

other way round.


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Savings Bank Account

These bank accounts are maintained by private individuals as well as retail financial institutions.

The amount saved earns interest and is subject to the issue of checks, only if there is a clause

permitting the same in the regulations supervising the transactions of the bank in question. TheSavings Account enables the customers to repeatedly save liquid assets and subsequently earn

monetary return in the form of interest. Savings Accounts are now offered by most credit

unions, commercial banks, loan associations and mutual savings banks. The account has little or

no scope to obtain additional funds, but the money set aside and interest earned may be

accessed via any ATM or bank branch. These accounts also come with a debit card facility to

enable quick transference of funds. A Savings Account, makes it mandatory to maintain a

certain amount of fund-balance for a minimum period of time. There are no restrictions on

access to funds via withdrawals, payments or transfers. Savings Accounts offer the customer an

itemized list or balance sheet of all financial transactions conducted via a passbook or bank

statement generated at the end of every month.

Current Bank Account

A current bank account is a transactional account designed specially for the business

community. The account enables businessmen and entities to access flexible payment methods

and directly distribute money to vendors and suppliers from the account. This is achieved via

the check book facility, and special arrangements made to accommodate standing orders, debit

card payments and direct debits into the account. A current account also comes along with an

overdraft facility that enables the businessman to borrow money from the bank to meet any

urgent business commitment. They also come along with the 'offset mortgage' facility that

allows the business entity to purchase property and benefit from the reduction in the rate of

interest. This 'offsetting' of a credit balance is basically offered against the incurred mortgage

debt. They attract a higher rate of interest, both earned and payable, since the volume of

transactions and savings are on the higher side. These accounts are designed to make business

transactions free of personal-handling of liquid funds and ensure the availability of funds when

most necessary via exclusive Internet banking. The account is run with the primary aim of

ensuring that profitable business transactions do not run into deficit due to non-availability of

funds.

http://www.buzzle.com/articles/difference-between-savings-and-current-account.html

Health savings accounts literature reviews

1 comment
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July 19, 2010 at 10:41 am

Austin Frakt

Im looking for health savings accounts (HSAs) and consumer directed health plan (CDHP)

literature reviews (and by literature, I mean peer-reviewed health services and healtheconomics papers). A few recent papers on these topics are listed below (with abstracts, orportions thereof, and excerpts). They likely cite much of the rest of the relevant literature.

Judging from these alone, it doesnt appear as if HSAs/CDHPs are a slam dunk for substantiallylower costs, but we may not have enough experience with them yet to say this with muchcertainty. I havent seen anything that reports results on outcomes, but Im going by abstractsalone.

Consumer-Oriented Strategies for Improving Health Benefit Design, by Laurence Baker, KateBundorf, and Anne Royalty

We found 11 published studies that provided evidence the prevalence or effects of CDHPs.Available evidence is insufficient to draw conclusions about the effects of CDHPs. Perhaps themost consistent point is that CDHPs are subject to selection bias. Evidence on the effects ofCDHPs on utilization and spending was mixed and generally of limited strength. We concludethat further evidence synthesis will be most profitable after the literature has had further time todevelop.

We also found that the number of studies that appear likely to produce reviewable evidenceabout the impacts of tiered networks on utilization and costs is small. The literature on theimpacts of quality data collection and dissemination is somewhat larger, but is much more

diffuse, with little evidence specific to the context of consumer-oriented strategies of the typeexamined here.

There is insufficient published evidence to draw conclusions about the effectiveness of theseCDHPs and tiered provider networks and the literature on the impacts of quality data collectionand dissemination is diffuse.

Evolution and early evidence of the impact of consumer-driven health plans: from e-commerceventure to health savings accounts, by S. Parente and R. Feldman

Using results from peer-reviewed empirical analyses we describe the development and impact of

the consumer-driven health plan market over the last 5 years. The results of these analyses showthat consumers are responding to the financial incentives of these new health insurance benefits.Although the results may not always be what the consumer-driven health plan developersintended, there is clear evidence of `consumerism, where individuals act in a way that generally

increases their access to healthcare or investments, if the opportunity is present. Just as MedicarePart D enrollment demonstrated consumers could identify differences in prescription drug plansand make rational choices, so too are prospective patients able to function as consumers in themedical marketplace when give[n] the opportunity.
http://www.ncbi.nlm.nih.gov/bookshelf/br.fcgi?book=techrev15http://www.ncbi.nlm.nih.gov/bookshelf/br.fcgi?book=techrev15http://www.ncbi.nlm.nih.gov/bookshelf/br.fcgi?book=techrev15http://www.hsinetwork.com/Parente%20%28SR%29.pdfhttp://www.hsinetwork.com/Parente%20%28SR%29.pdfhttp://www.hsinetwork.com/Parente%20%28SR%29.pdfhttp://www.hsinetwork.com/Parente%20%28SR%29.pdfhttp://www.hsinetwork.com/Parente%20%28SR%29.pdfhttp://www.ncbi.nlm.nih.gov/bookshelf/br.fcgi?book=techrev15http://www.ncbi.nlm.nih.gov/bookshelf/br.fcgi?book=techrev15


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[W]e found that a cohort of enrollees in the CDHP had lower healthcare costs than those in apreferred provider organization (PPO) in the second year of enrollment, but higher costs than aPoint of Service plan (POS). A follow-up analysis looking at an additional year of data foundthat the CDHP had become the most expensive plan by the end of the third year.

Consumer-Oriented Health Care Reform Strategies: A Review of the Evidence on ManagedCompetition and Consumer-Directed Health Insurance, by T. Buchmueller

Numerous studies provide consistent evidence that consumers health plan choices are sensitiveto out-of-pocket premiums. The elasticity of demand appears to vary with consumers healthrisk, with younger, healthier individuals being more price sensitive. This heterogeneity increasesthe potential for adverse selection. Biased risk selection also is a concern when the menu ofhealth plan options includes consumer-directed health plans. Several studies confirm that suchplans tend to attract healthier enrollees. A smaller number of studies test the main hypothesisregarding consumer-directed health plans, which is that they result in lower medical spendingthan do more generous plans. These studies find little support for this claim.

The experiences of employers that have adopted key elements of managed competition aregenerally consistent with the key hypotheses underlying that strategy. Research in this area,however, has focused on only a narrow range of questions. Because consumer-directed healthcare is such a recent phenomenon, research on this strategy is even more limited. Additionalstudies on both topics would be valuable.

Health Savings Accounts and Health Care Spending, by Anthony T. Lo Sasso, Mona Shah, andBianca K. Frogner

The impact of consumer-driven health plans (CDHPs) has primarily been studied in a small

number of large, self-insured employers, but this work may not generalize to the wide array offirms that make up the overall economy. The goal of our research is to examine effects of healthsavings accounts (HSAs) on total, medical, and pharmacy spending for a large number of smalland midsized firms. We employ difference-in-differences generalized linear regressionmodels to examine the impact of switching to HSAs. For total spending, HSA enrollees spent

roughly 57 percent less than non-HSA enrollees. For pharmacy spending, HSA enrollees spent69 percent less than traditional plan enrollees. More of the spending decrease was observed inthe first year of enrollment. Our findings are consistent with the notion that CDHP benefitdesigns affect decisions that are at the discretion of the consumer, such as whether to fill or refilla prescription, but have less effect on care decisions that are more at the discretion of theprovider.

Consumer-Directed Health Care: Early Evidence About Effects On Cost And Quality, byMelinda Beeuwkes Buntin, Cheryl Damberg, Amelia Haviland, Kanika Kapur, Nicole Lurie,Roland McDevitt and M. Susan Marquis

Demand for consumer-directed health care (CDHC) is growing among purchasers of care, andearly evidence about its effects is beginning to emerge. Studies to date are consistent with effectspredicted by earlier literature: There is evidence of modest favorable health selection and early
http://www3.interscience.wiley.com/journal/123212775/abstract?CRETRY=1&SRETRY=0http://www3.interscience.wiley.com/journal/123212775/abstract?CRETRY=1&SRETRY=0http://www3.interscience.wiley.com/journal/123212775/abstract?CRETRY=1&SRETRY=0http://www3.interscience.wiley.com/journal/123479569/abstracthttp://www3.interscience.wiley.com/journal/123479569/abstracthttp://www3.interscience.wiley.com/journal/123479569/abstracthttp://content.healthaffairs.org/cgi/content/abstract/25/6/w516http://content.healthaffairs.org/cgi/content/abstract/25/6/w516http://content.healthaffairs.org/cgi/content/abstract/25/6/w516http://content.healthaffairs.org/cgi/content/abstract/25/6/w516http://content.healthaffairs.org/cgi/content/abstract/25/6/w516http://content.healthaffairs.org/cgi/content/abstract/25/6/w516http://content.healthaffairs.org/cgi/content/abstract/25/6/w516http://www3.interscience.wiley.com/journal/123479569/abstracthttp://www3.interscience.wiley.com/journal/123479569/abstracthttp://www3.interscience.wiley.com/journal/123212775/abstract?CRETRY=1&SRETRY=0http://www3.interscience.wiley.com/journal/123212775/abstract?CRETRY=1&SRETRY=0


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reports that consumer-directed plans are associated with both lower costs and lower costincreases. The early effects of CDHC on quality are mixed, with evidence of both appropriateand inappropriate changes in care use. Greater information about prices, quality, and treatmentchoices will be critical if CDHC is to achieve its goals.

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Meaning of Current Bank Account

Current bank account is opened by businessmen who have a number of regular transactions withthe bank, both deposits and withdrawals. It is also known as Demand Deposit.

Image Credits stefanrechsteiner

Current account can be opened in co-operative bank and commercial bank. In current account,amount can be deposited and withdrawn at any time without giving any notice. It is also suitablefor making payments to creditors by using cheques. Cheques received from customers can be

deposited in this account for collection.

In India, current account can be opened by depositing Rs.500 (US $ 11) to Rs.1,000 (US $ 22).The customers are allowed to withdraw the amount with cheques and they generally do not getany interest. In India Co-operative bank may allow interest upto 1%.

Current account holder get one important advantage ofoverdraft facility.
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Features of Current Bank Account

The main features ofcurrent account are as follows:-

1. The main objective of current bank account is to enable the businessmen to conducttheir business transactions smoothly.

2. There is no restriction on the number and amount of deposits. There is also norestriction on the withdrawals.

3. Generally bank does not pay any interest on current account. Nowadays, some banks dopay interest on current accounts.

4. Current account is of continuing nature and as such there is no fixed period.

Advantage of Current Bank Account

The advantages of current account are as follows:-

1. Current account enables businessmen to conduct his business transactions smoothly.2. The businessmen can withdraw any amount at any time from their current accounts.

There are also no restrictions on withdrawals.

3. The businessmen can make direct payment to their creditors with the help of cheques.4. The bank collects money on behalf of its customers and credits the same to their

accounts.

5. Current account enables the account holder to obtain overdraft facility.6. The creditors of the account holder can get credit-worthiness information of the

account holder through inter bank connection.

7. Current account facilitates the industrial progress of the country. Without the help ofthis account, businessmen would have difficulties in running their business.

http://kalyan-city.blogspot.in/2011/02/what-is-current-bank-account-its.html

Savings accounts mainly aim at meeting the personal needs of individuals. Similarly, currentaccounts [CAs] are meant to meet the business needs of customers. As prohibited by RBI, nointerest is paid on balances in CAs. Since there is no interest involved in CAs, there is norestriction on the number of transactions or in the type of customers who are eligible to open
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such accounts. Owing to the high transaction costs involved in CAs, the minimum balance thatneeds to be maintained in CAs is much higher as compared to Savings bank account.

Current Account is mainly meant for businessmen, companies, firms, public enterprises, etc. thathave many daily banking transactions. Current Accounts are cheque operated accounts that are

meant neither for the purpose of earning interest and nor for the purpose of savings. Theseaccounts are meant only for convenience of business and hence they are non-interest bearingaccounts

Depending upon the nature and number of transactions, banks associate the minimum balancerequirement with the level of service charges. For instance, an account with a large number oftransactions will attract a higher minimum balance stipulation in order to defray a highertransaction cost involved.

Banks also provide certain value added services to customers, like facility of withdrawals fromcurrent accounts from anywhere, if the branches are networked. This facility enables a current

account holder to access his funds from anywhere as per his business needs. At times, certainlimitations may be imposed on the amount and frequency of transactions through anywherebanking.

Normally, banks charge the customers for any for any service rendered through a correspondentor partner bank locations or delivery channels. In such kind of services, ceilings are imposed onpayment and collections. Extra charges are applied in case of transactions in excess of theceiling. Similarly, certain banks offer to issue DDs and POs free of charge up to a certain numberper month and chargeable above the prescribed limit.

Services offered for Current Accounts:

Some or all of the following services are offered for CAs:

Payable at par facility Anywhere banking facility within the specified limits Cheque collection DD/PO issue from base branch or correspondent locations with ceiling as to amount/

number of DDs/POs free of charge for a period Phone and internet banking facility for viewing the account status Cheque return, chargeable on per instrument basis Cash transactions may contain restrictions as to amount that can be deposited in a month.

All additional deposits are charged. Limits may be imposed for withdrawal of cash at base branch. Charges may vary if the

non-base branch is within the same city or outside Practically all other services which are not originally agreed or exceed the given limits

are chargeable. From the foregoing analysis, it is clear that banks design the product for aparticular class of clientele based on the specific requirements and the cost of renderingsuch a service. Banks also decide on the rate chargeable for any service, based on the


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minimum balance requirement for a particular account, the number and nature oftransactions.

Current Account can be opened by:

An individual who has attained majority.

Two or more persons in their joint names. Sole proprietorship concerns. Partnership concerns. Hindu Undivided Family (HUF). Limited Companies. Clubs, Societies. Trusts, Executors and Administrators. Others - Government and semi Government. bodies, local authorities etc.

Documents Required for Opening Current Account

2 passport size photographs Proof of residence i.e. Passport/driving license/ Telephone / Electricity Bill/ voters

identity card/ Ration card Introduction of person from an existing account holder. PAN number or Declaration in form no.60 or 61 according to the Income Tax Act 1961

http://www.tax4india.com/investment-in-india/current-accounts.html

Savings Account Vs Current Account

Are you often confused between different types of bank accounts such as savings account and

current account? This article would help you to understand the basic differences between

them.

By Amol Vyavhare| Sunday, December 14, 2008

Banking has really enabled our lives to breathe easy through all the variety of features we get -

the features we can't live without. But how often you find yourself scratching your head

whenever banking related questions come across" Yes it is pretty often ain't it" The most

common and basic question out of them is related to type of banking account and what it

means. Generally all banks offer two main types of accounts - savings account and current

account. The choice entirely depends upon your need and financial portfolio. Let us look at the

differences between these two types of bank accounts:
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Savings Account

Savings account enables all sorts of people (individuals or business men) to save money by

keeping it in the bank and depositing small amounts (mostly) from time to time. In lieu of

having money in your account, banks offer a flat interest rate for your balance amount. Interestrate of course entirely depends upon the nature, type and size of the bank and it varies from

bank to bank. Some banks also require people to maintain an average quarterly balance or just

a small amount of balance all the time. Again, this entirely depends upon the bank. If you are

going to open a savings account, this is one area where you need to concentrate the most.

Savings accounts can also have certain withdrawal amount or shopping amount limitations per

day. Most banks don't offer an overdraft facility on savings accounts. Overdraft facility basically

enables one to withdraw more amount than that present in the account.

Current Account

A current account is primarily opened by people for business purposes. Most banks don't offer

any amount of interest on current accounts. However since current accounts require constant

commercial transactions, they do come along with a horde of features that other accounts

stand limited to. For starters, many banks don't require current account holders to maintain

any sort of average quarterly or quarterly balances enabling more freedom to the account

holder. Moreover, current account holders benefit from bank overdraft facility, unrestricted

execution of financial transactions (mostly withdrawals and transfers), currency trading,

international transaction capability etc. Some banks even require current account holders to

deposit a minimal amount of money at a predefined interval to enable providing services for

the same.

Quick Review

Feature/Service Savings Account Current Account

Business Banking Not Applicable Yes

Minimum Balance Required Higher

ATM Cards Available Available

Interest Rate Applicable Mostly No

Bank Overdraft No Yes


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International Transactions Depends Yes

Deposit Interval Not Applicable As per bank

Daily Withdrawal Limits Applicable Not Applicable, Mostly

http://www.articleswave.com/finance-articles/savings-account-vs-current-account.html

Current Account vs. Savings Account: Which is Better?

Current accounts are one of the most popular types of accounts offered by banks and buildingsocieties in the UK. This account allows you to deposit, withdraw and transfer through a varietyof functions. On the other hand, savings accounts are the perfect vehicle for storing away moneyfor a rainy day.

Which is the right account for you? Consider these comparisons before you make your choice.

Savings Account

As the name suggests, this type of account is primarily used for saving cash. You may be puttingthe money away for a specific purpose, such as college or a holiday. Some savers are stockpilinga lump sum for emergencies, such as redundancy or a medical crisis.

The primary feature of savings accounts is that they earn interest on the balance in the account.The rate varies significantly, depending on the type of account and bank you choose. Somesavings accounts allow you to access your money at any time without penalty. Others, known asfixed notice or term accounts, require you to leave the money in the account for a set periodof time before it is withdrawn.

Current Accounts

Current accounts are primarily chosen for liquidity and convenience. Funds can be deposited orwithdrawn from the account at any time without penalty. Withdrawals can be done by a varietyof methods, including checks, cash machines and debit cards.

Current accounts usually offer additional features to add to their convenience, including

overdraft facility, online banking and direct debits. Some current accounts pay interest on thebalance, although the rate will probably be much less than you would earn on a savings account.

Shopping Around

Nearly every bank and building society and bank will offer their own versions of currentaccounts and savings programs. There are certain factors to consider when shopping around foreither of these accounts. Variables include:
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* Interest RatesWhile not all current accounts offer them, interest rates are a standard featurefor savings. No matter what type of account you are looking for, it is always a good idea to shoparound for the best rate.

* Minimum Balance and FeesSome banks require that you keep a minimum balance,

particularly in savings accounts. There may also be fees assessed for various services. Make sureyou know the cost of the account up front so you dont get any surprises once the account isestablished.

* LocationIf you plan to do all of your banking business online or over the phone, locationmight not be much of an issue. However, if the personal touch is important to you, find out if thebank or building society has a branch or post office location near to where you live.

To ensure you find the best account for your needs, identify those needs up front. Determinewhat the money in the account will used for and how much activity the account will see. Onceyou decide if a current or savings account will meet you need best, you can shop between banks

and building society to find the best deal for your needs.

http://www.currentaccounts.co.uk/guides/current-account-vs-savings-account-which-is-

better.html

Current Accounts vs Savings Accounts

byMartinfrommoney.co.uk

Current accounts and savings accounts are the two main types of account on offer from banksand building societies - but what exactly is the difference between the two and which type ofaccount is right for you?

Whether you should open a savings account or a current account will depend largely on how youplan to use your new account.
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Each offers different banking facilities and has benefits and restrictions that will determine howyou access and manage your money.

Whats the difference?

A current account is generally best suited for managing day to day transactions, while a savingsaccount provides a safe and potentially profitable home for your extra cash.

Most current accounts allow you to set up automatic payments - including direct debits andstanding orders - issue cheques andprovidea debit card that you can use to withdraw cash andpay for goods and services.

Current accounts also often come with additional benefits that make it easier to manage yourmoneyoverdraft facilities and cheque guarantee cards for example.

Some (usually refer to as package current accounts) also offer extra features such as mobile

phone insurance andbreakdown coverin return for a fee.

However, the vast majority pay little in the way of interest on your in-credit balances. Savingsaccounts tend to pay something in the way of an interest rate on the money you hold in them,although the return available varies significantly between accounts.

Some savings accounts pay you interest without deducting tax (Cash ISAs), while others offerbetter interest rates for an introductory period (usually by way of a bonus interest rate), or if youragree to leave your money for a fixed period (Fixed term bonds).

While the above definitions apply to the vast majority of current accounts and savings accounts

in recent years a number of the features traditionally offered by currents accounts have becomeavailable oninstant access savings accounts, while some current accounts have also startedoffering attractive interest rates.

So when should you open a savings account and when would you be better opting for a currentaccount?

Interestingly the answer isnt quite as clear cut as you may think....

When should you save in a current account?

In recent years banks have started to offer attractive interest rates on selected currents accountsin an attempt to lure customers from rival banks.

Often the interest rates available through these deals are higher than the returns available onmany instant access savings accounts!

But does it really make sense to use your current account as a savings account?
http://www.money.co.uk/companies/Provide.htmhttp://www.money.co.uk/companies/Provide.htmhttp://www.money.co.uk/companies/Provide.htmhttp://www.money.co.uk/breakdown-cover.htmhttp://www.money.co.uk/breakdown-cover.htmhttp://www.money.co.uk/breakdown-cover.htmhttp://www.money.co.uk/savings-accounts/cash-isas.htmhttp://www.money.co.uk/savings-accounts/cash-isas.htmhttp://www.money.co.uk/savings-accounts/cash-isas.htmhttp://www.money.co.uk/savings-accounts/fixed-rate-bonds.htmhttp://www.money.co.uk/savings-accounts/fixed-rate-bonds.htmhttp://www.money.co.uk/savings-accounts/fixed-rate-bonds.htmhttp://www.money.co.uk/savings-accounts/instant-access-savings.htmhttp://www.money.co.uk/savings-accounts/instant-access-savings.htmhttp://www.money.co.uk/savings-accounts/instant-access-savings.htmhttp://www.money.co.uk/savings-accounts/instant-access-savings.htmhttp://www.money.co.uk/savings-accounts/fixed-rate-bonds.htmhttp://www.money.co.uk/savings-accounts/cash-isas.htmhttp://www.money.co.uk/breakdown-cover.htmhttp://www.money.co.uk/companies/Provide.htm


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Check the interest rate

The main reason you might consider using a current account to save is if you are offered anattractive interest rate in return for leaving a significant balance in the account.

However, its not always that straight forward. Firstly, youll need to check whether you couldget a better interest rate from a traditional savings accountyou can compare accounts using oursavings accounts table.

If the current account youve found beats all other contenders then it may be worth investigating

the possibility of using a current account to save.

Check the ts and cs

Although some current accounts offer tempting headline interest rates, on closer inspection youare likely to find that its not as straightforward as it may first seem.

For instance there are usually a number of conditions that you must meet in order to actually getthe advertised rate.

For starters, most will require you to deposit a certain amount of money in the account eachmonth.

While this might not be a major issue if you plan to have your salary paid into the account, youneed to check whats expected of you and whether you can meet it before you apply.

Additionally, mosthigh interest current accountslimit the balance that will earn the headline

rate. As any money in excess of this threshold will earn interest at a far lesser rate its not worthkeeping any extra money in the account.

Transferring the extra to ahigh interest savings accountwill help you to maximise the return onyour money.

Is it wise to keep a large balance in your current account?

Before switching to a high interest current account and using it to stash your excess cash, youalso need to consider whether it is wise to keep your savings in an account that you use for yourday to day spending.

Firstly you need to consider just how likely you would be to spend the money if it is sat in yourcurrent account. If you are trying to save will having such ready access impede your saving plan?

Secondly, while bank account security is generally quite robust, if someone were to get hold ofyour bank card they could potentially access your savings balance.
http://www.money.co.uk/savings-accounts.htmhttp://www.money.co.uk/savings-accounts.htmhttp://www.money.co.uk/current-accounts.htmhttp://www.money.co.uk/current-accounts.htmhttp://www.money.co.uk/current-accounts.htmhttp://www.money.co.uk/savings-accounts.htmhttp://www.money.co.uk/savings-accounts.htmhttp://www.money.co.uk/savings-accounts.htmhttp://www.money.co.uk/savings-accounts.htmhttp://www.money.co.uk/current-accounts.htmhttp://www.money.co.uk/savings-accounts.htm


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Although you should be able to reclaim the money from your bank in the event of fraudulentactivity you may be without the balance until the matter is sorted.

So is it worthwhile?

If you usually carry a positive balance or have savings up to the maximum allowed on a highinterest current account and find that you will easily meet the necessary criteria then it isseriously worth considering using a current account to hold some of your savings.

However, you need to be sure you couldnt get a better return elsewhere and be happy to manageyour day to day finances in the same account as your savings, if this isnt the case then stick to a

separate savings account.

Can you use a savings account as a current account?

Many savings accounts now offer a number of features that were once solely available with a

current accountbut does it really make sense to use a savings account for your day to daytransactions?

These extra features include cash cards/debit cards to withdraw money from the account or payfor goods in stores.

However, while some savings accounts now offer cash cards or debit cards, there are still certainfeatures which are only available with a current account.

Yet many of the savings accounts that offer these extra facilities may do so at the expense of agood interest rate, meaning you could get a better return from a high interest current account.

If you are likely to ever want to use direct debits or an overdraft (even a very small overdraft),these features wont be available from a savings account and youll need a current account

instead.

Many savings accounts also place restrictions on the number of withdrawals you can makewithout forfeiting some of the interest youve earnedmaking using them for day to daytransactions less attractive.

So while you might feel that you can get more interest from using a savings account, you mayfind that you dont get all the features you need or that those savings accounts which do offer

these features only pay a measly interest rate making it unlikely to be worth considering.

How to decide

If you are looking for an account for your day to day finances then in most cases a savingsaccount is unlikely to cut the mustard. Instead of opting to use a savings account instead of acurrent account you are likely to be better off using one in conjunction with a current account.


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You may also be able to link the two accounts directly if you choose an account from the same

bank as you current account.

This is where the balance from the savings account is automatically used to top up the currentaccount when required, or swept into the savings account if your current account balance gets too

high.

However, limiting your choice to a single bank could mean you miss out on better interest ratesavailable elsewhere.

Where to get the best accounts

Regardless of whether you decide you need a savings account, a current account or both, gettingthe best account possible is essential.

http://www.money.co.uk/article/1007839-current-accounts-vs-savings-accounts.htm

Difference Between Saving and Current Account

The difference between saving and current account is discussed as follows:

1. Meaning

Saving accountis opened by individuals for the purpose of saving a part of their income.

Current accountis maintained by businessman and others who have to do regular banktransactions.
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2. Purpose

The main purpose of opening a saving account is to save a part of the income.

The main purpose of opening a current account is to facilitate regular transactions.

3. Operated by

Saving account is operated by salary earners, small traders and others.

Current account is operated by businessmen and other organisations.

4. Interest Rate

The saving account earns a nominal rate of interest. At present, it is about 5% p.a. (in India).

Normally,banksdo not pay interest on current account.
http://kalyan-city.blogspot.com/2011/02/what-is-bank-introduction-definition.htmlhttp://kalyan-city.blogspot.com/2011/02/what-is-bank-introduction-definition.htmlhttp://kalyan-city.blogspot.com/2011/02/what-is-bank-introduction-definition.htmlhttp://lh3.googleusercontent.com/-fGXX4O-1ybI/TaxyLkMcumI/AAAAAAAAEkA/klXRFkSsVjQ/Distinguish-Between-Saving-Account-And-Current-Account.pnghttp://kalyan-city.blogspot.com/2011/02/what-is-bank-introduction-definition.html


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5. Minimum Amount

The saving account can be operated with lesser amount.

To open current account more amount is required.

http://kalyan-city.blogspot.in/2011/04/distinguish-between-saving-account-and.html

The four main approaches

Types of research

Quantitative research

Quantitative research is generally associated with the positivist/postpositivist paradigm. Itusually involves collecting and converting data into numerical form so that statisticalcalculations can be made and conclusions drawn.

The process

Researchers will have one or more hypotheses. These are the questions that they want to addresswhich include predictions about possible relationships between the things they want toinvestigate (variables). In order to find answers to these questions, the researchers will also havevarious instruments and materials (e.g. paper or computer tests, observation check lists etc.) anda clearly defined plan of action.

Data is collected by various means following a strict procedure and prepared for statisticalanalysis. Nowadays, this is carried out with the aid of sophisticated statistical computerpackages. The analysis enables the researchers to determine to what extent there is a relationshipbetween two or more variables. This could be a simple association (e.g. people who exercise on a

daily basis have lower blood pressure) or a causal relationship (e.g. daily exercise actually leadsto lower blood pressure). Statistical analysis permits researchers to discover complex causalrelationships and to determine to what extent one variable influences another.

The results of statistical analyses are presented in journals in a standard way, the end result beinga P value. For people who are not familiar with scientific research jargon, the discussion sectionsat the end of articles in peer reviewed journals usually describe the results of the study andexplain the implications of the findings in straightforward terms
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Principles

Objectivity is very important in quantitative research. Consequently, researchers take great careto avoid their own presence, behaviour or attitude affecting the results (e.g. by changing thesituation being studied or causing participants to behave differently). They also critically

examine their methods and conclusions for any possible bias.

Researchers go to great lengths to ensure that they are really measuring what they claim to bemeasuring. For example, if the study is about whether background music has a positive impacton restlessness in residents in a nursing home, the researchers must be clear about what kind ofmusic to include, the volume of the music, what they mean by restlessness, how to measurerestlessness and what is considered a positive impact. This must all be considered, prepared andcontrolled in advance.

External factors, which might affect the results, must also be controlled for. In the aboveexample, it would be important to make sure that the introduction of the music was not

accompanied by other changes (e.g. the person who brings the CD player chatting with theresidents after the music session) as it might be the other factor which produces the results (i.e.the social contact and not the music). Some possible contributing factors cannot always be ruledout but should be acknowledged by the researchers.

The main emphasis of quantitative research is on deductive reasoning which tends to move fromthe general to the specific. This is sometimes referred to as a top down approach. The validity ofconclusions is shown to be dependent on one or more premises (prior statements, findings orconditions) being valid. Aristotles famous example of deductive reasoning was: All men are

mortal Socrates is a man Socrates is mortal. If the premises of an argument are inaccurate,then the argument is inaccurate. This type of reasoning is often also associated with the fictitious

character Sherlock Holmes. However, most studies also include an element of inductivereasoning at some stage of the research (see section on qualitative research for more details).

Researchers rarely have access to all the members of a particular group (e.g. all people withdementia, carers or healthcare professionals). However, they are usually interested in being ableto make inferences from their study about these larger groups. For this reason, it is important thatthe people involved in the study are a representative sample of the wider population/group.However, the extent to which generalizations are possible depends to a certain extent on thenumber of people involved in the study, how they were selected and whether they arerepresentative of the wider group. For example, generalizations about psychiatrists should bebased on a study involving psychiatrists and not one based on psychology students. In mostcases, random samples are preferred (so that each potential participant has an equal chance ofparticipating) but sometimes researchers might want to ensure that they include a certain numberof people with specific characteristics and this would not be possible using random samplingmethods. Generalizability of the results is not limited to groups of people but also to situations. Itis presumed that the results of a laboratory experiment reflect the real life situation which thestudy seeks to clarify.


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When looking at results, the P value is important. P stands for probability. It measures thelikelihood that a particular finding or observed difference is due to chance. The P value isbetween 0 and 1. The closer the result is to 0, the less likely it is that the observed difference isdue to chance. The closer the result is to 1, the greater the likelihood that the finding is due tochance (random variation) and that there is no difference between the groups/variables.

Qualitative research

Qualitative research is the approach usually associated with the social constructivist paradigmwhich emphasises the socially constructed nature of reality. It is about recording, analysing andattempting to uncover the deeper meaning and significance of human behaviour and experience,including contradictory beliefs, behaviours and emotions. Researchers are interested in gaining arich and complex understanding of peoples experience and not in obtaining information which

can be generalized to other larger groups.

The process

The approach adopted by qualitative researchers tends to be inductive which means that theydevelop a theory or look for a pattern of meaning on the basis of the data that they havecollected. This involves a move from the specific to the general and is sometimes called abottom-up approach. However, most research projects also involve a certain degree of deductivereasoning (see section on quantitative research for more details).

Qualitative researchers do not base their research on pre-determined hypotheses. Nevertheless,they clearly identify a problem or topic that they want to explore and may be guided by atheoretical lens - a kind of overarching theory which provides a framework for theirinvestigation.

The approach to data collection and analysis is methodical but allows for greater flexibility thanin quantitative research. Data is collected in textual form on the basis of observation andinteraction with the participants e.g. through participant observation, in-depth interviews andfocus groups. It is not converted into numerical form and is not statistically analysed.

Data collection may be carried out in several stages rather than once and for all. The researchersmay even adapt the process mid-way, deciding to address additional issues or dropping questionswhich are not appropriate on the basis of what they learn during the process. In some cases, theresearchers will interview or observe a set number of people. In other cases, the process of datacollection and analysis may continue until the researchers find that no new issues are emerging.

Principles

Researchers will tend to use methods which give participants a certain degree of freedom andpermit spontaneity rather than forcing them to select from a set of pre-determined responses (ofwhich none might be appropriate or accurately describe the participants thoughts, feelings,attitudes or behaviour) and to try to create the right atmosphere to enable people to express


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themselves. This may mean adopting a less formal and less rigid approach than that used inquantitative research.

It is believed that people are constantly trying to attribute meaning to their experience. Therefore,it would make no sense to limit the study to the researchers view or understanding of the

situation and expect to learn something new about the experience of the participants.Consequently, the methods used may be more open-ended, less narrow and more exploratory(particularly when very little is known about a particular subject). The researchers are free to gobeyond the initial response that the participant gives and to ask why, how, in what way etc. Inthis way, subsequent questions can be tailored to the responses just given.

Qualitative research often involves a smaller number of participants. This may be because themethods used such as in-depth interviews are time and labour intensive but also because a largenumber of people are not needed for the purposes of statistical analysis or to makegeneralizations from the results.

The smaller number of people typically involved in qualitative research studies and the greaterdegree of flexibility does not make the study in any way less scientific than a typicalquantitative study involving more subjects and carried out in a much more rigid manner. Theobjectives of the two types of research and their underlying philosophical assumptions aresimply different. However, as discussed in the section on philosophies guiding research, this

does not mean that the two approaches cannot be used in the same study.

Pragmatic approach to research (mixed methods)

The pragmatic approach to science involves using the method which appears best suited to theresearch problem and not getting caught up in philosophical debates about which is the best

approach. Pragmatic researchers therefore grant themselves the freedom to use any of themethods, techniques and procedures typically associated with quantitative or qualitative research.They recognise that every method has its limitations and that the different approaches can becomplementary.

They may also use different techniques at the same time or one after the other. For example, theymight start with face-to-face interviews with several people or have a focus group and then usethe findings to construct a questionnaire to measure attitudes in a large scale sample with the aimof carrying out statistical analysis.

Depending on which measures have been used, the data collected is analysed in the appropriate

manner. However, it is sometimes possible to transform qualitative data into quantitative dataand vice versa although transforming quantitative data into qualitative data is not very common.

Being able to mix different approaches has the advantages of enabling triangulation.Triangulation is a common feature of mixed methods studies. It involves, for example:

the use of a variety of data sources (data triangulation) the use of several different researchers (investigator triangulation)


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the use of multiple perspectives to interpret the results (theory triangulation) the use of multiple methods to study a research problem (methodological triangulation)

In some studies, qualitative and quantitative methods are used simultaneously. In others, first oneapproach is used and then the next, with the second part of the study perhaps expanding on the

results of the first. For example, a qualitative study involving in-depth interviews or focus groupdiscussions might serve to obtain information which will then be used to contribute towards thedevelopment of an experimental measure or attitude scale, the results of which will be analysedstatistically.

Advocacy/participatory approach to research (emancipatory)

To some degree, researchers adopting an advocacy/participatory approach feel that theapproaches to research described so far do not respond to the needs or situation of people frommarginalised or vulnerable groups. As they aim to bring about positive change in the lives of theresearch subjects, their approach is sometimes described as emancipatory. It is not a neutral

stance. The researchers are likely to have a political agenda and to try to give the groups they arestudying a voice. As they want their research to directly or indirectly result in some kind ofreform, it is important that they involve the group being studied in the research, preferably at allstages, so as to avoid further marginalising them.

The researchers may adopt a less neutral position than that which is usually required in scientificresearch. This might involve interacting informally or even living amongst the researchparticipants (who are sometimes referred to as co-researchers in recognition that the study is notsimply about them but also by them). The findings of the research might be reported in morepersonal terms, often using the precise words of the research participants. Whilst this type ofresearch could by criticised for not being objective, it should be noted that for some groups of

people or for certain situations, it is necessary as otherwise the thoughts, feelings or behaviour ofthe various members of the group could not be accessed or fully understood.

Vulnerable groups are rarely in a position of power within society. For this reason, researchersare sometimes members of the group they are studying or have something in common with themembers of the group.

http://www.alzheimer-europe.org/Research/Understanding-dementia-research/Types-of-research/The-four-main-approaches
http://www.alzheimer-europe.org/Glossary/stageshttp://www.alzheimer-europe.org/Glossary/stageshttp://www.alzheimer-europe.org/Research/Understanding-dementia-research/Types-of-research/The-four-main-approacheshttp://www.alzheimer-europe.org/Research/Understanding-dementia-research/Types-of-research/The-four-main-approacheshttp://www.alzheimer-europe.org/Research/Understanding-dementia-research/Types-of-research/The-four-main-approacheshttp://www.alzheimer-europe.org/Research/Understanding-dementia-research/Types-of-research/The-four-main-approacheshttp://www.alzheimer-europe.org/Research/Understanding-dementia-research/Types-of-research/The-four-main-approacheshttp://www.alzheimer-europe.org/Glossary/stages


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Types of Research

Click thumbnail to view full-size

BASIC RESEARCH

Continued from:Method of Business Research

Research can be classified by purpose or by method. If we categorise it by purpose, it would fallinto two major categories: Basic Research and Applied Research, while in case of method, itwould be deductive research and inductive research.

BASIC RESEARCH

Also called Pure or fundamental Research, it is undertaken for increase in knowledge. There is

no direct benefit as it is a research for the sake of research. It is conducted to satisfy any curiositysuch as: (a) what makes things happen, (b) why society changes and (c) why social relations arein a certain way. In fact, it is the source of most new theories, principles and ideas. Basicresearch rarely helps anyone directly. It only stimulates new ways of thinking. The mainmotivation is to expand man's knowledge. There is absolutely no commercial value to thediscoveries resulting from such research.
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However, in the long run, it forms the basis of applied research or development commercialproducts. If basic work is done first, then applied spin-offs often eventually result from thisresearch. As Dr. George Smootof LBNL says, "People cannot foresee the future well enough topredict what's going to develop from basic research. If we only did "applied research", we wouldstill be making better spears."

To sum up, basic research is purely theoretical to increase our understanding of certainphenomena or behavior but does not seek to solve any existing problem.

APPLIED RESEARACH

Applied research

It is use of basic research or past theories, knowledge and methods for solving an existingproblem. It deals with practical problems. It is opposed to pure research which is not problem-

oriented but for the increase in knowledge which may or may not be used in future.

In the present world situation, more emphasis is being given to applied research to solveproblems arising out of overpopulation and scarcity of natural resources.

Applied research should not be treated the same as Research & Development (R&D) which isinvolved in developing products demanded by the existing clients. Applied Research, on theother hand, focuses on uncovering what needs are not being met and use that information indesigning products or services that would create their own demand. Thus, applied researchbrings in new customers and also provides better products and services to the existing customers.In old days, the mobile phone was expensive, bulky and had a short range. Applied Research

foresaw that this product would have a limited market and stressed on cost-cutting, reducedweight and long-distance communication. Such measures caused a heavy demand.
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Click thumbnail to view full-size

METHODS or APPROACHES

In research, conclusions are based two methods known as the deduction and induction. Both arewidely used in research projects. This helps the researchers to understand, explain, or predictbusiness phenomena.

Deduction follows an approach which is top-down or from general to specific. On the otherhand, induction is bottom-up in nature or from specific to general. In deduction, we start froma theory and try to prove it right with the help of available information. In induction, we observe

some happening, deduct a pattern and draw conclusion.

EXAMPLE OF DEDUCTION

1. All men are mortal. (General and no specific to one man)2. Socratesis a man3. (Therefore,) Socrates is mortal ( specific)
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EXAMPLE OF INDUCTION

This ice is cold. (Specific, based on a direct observation.)

All ice is cold. (General, can be applied to any ice)

Take another example: 3 + 5 = 8 and eight is an even number. Therefore, an odd number addedto another odd number will result in an even number.

EXAMPLE OF BOTH DEDUCTION AND INDUCTION

1 You push the light switch and find no light

2 You ask the question, Why no light? (induction)

3 You infer a conclusion (hypotheses) to answer the question and explain the fact that the bulb is

burned out. (deduction)

4 You use this hypothesis to conclude (deduce) that the light will not go on when we push theswitch. We know from experience that burned-out bulb will not light.

DEDUCTIVE APPROACH

DEDUCTIVE METHOD

LikeSherlock Holmes, the starting point is a given situation and moving to a specific conclusion.All relevant information is assembled, studies to solve the mystery.Aristotle, a Greek

philosopher, described deduction as "drawing conclusions by applying rules or principles;logically moving from a general rule or principle to a specific solution". It is the process ofreaching a conclusion that is guaranteed to follow, if the evidence provided is true and thereasoning used to reach the conclusion is correct.

An investigator is distracted with the noise and thinks that noise adversely affects mental

problem solving.It can be turned into a research question like would it be more conducive tosolve mental puzzle when there is no noise.
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In order to test it, two puzzles are given to the same group, one in noise-less conditions and otherin a blaring noise. If the results of test conducted under noisy-enironment are poor it can bededuced or concluded that controlling the aversive noise is helpful in solving mental puzzles.(Someone may say why research, it is apparent? It is logical to say it but it had been previouslyproved and awareness has been created of the noise pollution. In fact, noise can be measure in

term of decibel (dB) and by research, it has been established how much noise is tolerable underwhat conditions. Zero dB describes perfect silence while 140 dB would reflect a gunshot.

In deductive method, the premises (basis or evidence) provide a guarantee of the true conclusion.Consider the following example:

1. There are 32 books on the top-shelf of the book case,

2. There are 12 books on the lower-shelf of the book case.

3. There are no books anywhere on the bookcase

From the above, it can be concluded there are 44 books in the bookcase.

INDUCTIVE APPROACH

INDUCTIVE METHOD

Also known as Inductive reasoning or logic, this methods involves moving from a specificsituation to a general conclusion This is a way of theory-building, whereby specific facts areused to create a theory that explains relationships between the facts and allows prediction offuture knowledge. This method is more open-ended and exploratory. This does not give 100%guarantee of truth but probability of being true.

Here is an example:

1. Socrates was Greek. (premise)2. Most Greeks eat fish. (premise)3. Socrates ate fish. (conclusion)


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While the premises were true, it is possible that conclusion was false. Maybe Socrates wasallergic to fish, for example. It can be said that inductive approach is weaker than deductiveapproach as there is possibility of arriving at false conclusion. However, it is not entirely true.

http://hafeezrm.hubpages.com/hub/Types-of-Research

RETAIL BANKING Accounts and Deposits:Saving Accounts

Regular Saving AccountPrivilege Saving AccountPrivilege Plus Saving AccountCurrent Account

Regular Current A/CBusiness Current A/C

Term DepositFixed DepositFlexi term deposit

SAVING ACCOUNT

A safe and easy way to save your money is with a bank saving account. A saving allows you todeposit money in the bank and earninterest own that money over the course of time. A savingaccount allows you to deposit money (add money to your account) or withdrawmoney (remove

money from your account) at any time. In return for keeping your money at the bank, the bankpays you money, also knownas interest.There different types of savings account available andeach dependson the amount of money you will be depositing, whether or not youwant easyaccess to your funds and how long you want to keep your money in your account. Interest will beearned on the money you haveon deposit at the bank. Since you may deposit or withdraw money

each day, the bank will calculate how much money you should receivein interest. You will alsoreceive a periodic statement from the bank listing your deposits,

withdrawals, interest, and account balances.bank may pay a different amount of interest, so itmakes sense to look at several banks to decide which one to use.Saving Bank Accounts aremeant to promote the habit of saving among the citizens while allowing them to use their fundswhenrequired. It also facilitates safe keeping of money. In this scheme fund is allowed to bewithdraw whenever required, without any condition. Hence a saving account is a safe,convenient and affordable way to save your money.
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A. Product Definition

A saving bank account is the most common operating account for Individuals and others fornon-commercial transactions. It helps people to put through day to day banking transactions

besides earning some return on the made.B. Target SegmentBy a person in his/her name and By two or more persons in their joint names payable to, Both orall of them of the survivor or survivors of them OR Either or any more of them or the survivor orsurvivors ofthem OR Former/Letter or survivor of a particular person during hislifetime or survivor jointly orsurvivorC. DocumentationDully filled account opening form as per KYC Norms.oAddress ProofoPhoto identity Proof

oPan no/Form 60o2 Passport size photograph

D. Types of Saving Account

saving A/CPrivilege Saving A/C

SAMPLE SIZE:My sample size for this project was 100 respondents.Since it was not possible to cover the wholeuniverse inthe available time period, it was necessary for me to takea sample size of 100respondents.RESEARCH LIMITATIONS:It was not possible to understand thoroughly about thedifferent marketing aspects of theFinancial Consultantwithin 60 days.

As stipend, money was not given it was difficult tocontinue the project work. All the work waslimited insome limited areas of Bangalore so the findiof research was Bangaloreand it was too vast an area to cover within 60 days.All the findings andconclusions obtained are based onthe survey done in the working area within the time limit.Itried to select the sample representative of the wholegroup during my job training. I havecollected data from people linked with different profession at Bangalore.


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INDIAN CO-OPERATIVE MOVEMENT - A SWOT ANALYSIS.

INDIAN CO-OPERATIVE MOVEMENT - A SWOT ANALYSIS.

INTRODUCTION :-

Co-operation is not merely an agency to provide facile credit to farmers, but an

instrument of economic development in the country. It is a system, a sector and above all a

movement. Co-operation has acclaimed wide recognition as an agency for bringing about socio-

economic advancement particularly in rural areas. The Co-operative movement, which emerged

as a distinct sector in the national economy, completed hundred years of its service and has made

a remarkable progress in our country.

GROWTH OF THE CO-OPERATIVE MOVEMENT :-

The Co-operative movement was introduced by the then British Government in India in

1904 to provide relief to the farmers from the clutches of the exploitative and merciless

moneylenders. At present the Co-operative movement covers 100 percent of the villages and 71

percent of the rural households. There are 5,49,119 co-operative societies of different kinds at

all levels, with a membership of 229.510 Million. The working capital of the Co-operatives

amounted to Rs.3, 82,749 Million. The share of the Co-operatives in the national economy with

regard to agricultural credit amounted to 46 percent; sugar production accounted for 51 percent;

and fertilizer production accounted for 37 percent. The Co-operative movement is playing a

significant role in the national economy of our country.

NEW ECONOMIC POLICY AND COPERATIVES:

The Central Government adopted its economic reforms in the year 1991. Competitive

market economy is the result of the economic reforms. The market oriented environment made

the movement face the challenges. The Co-operatives have enough strength to meet the

challenges and they are laying great emphasis on the enhancement of their efficiency and

competitiveness.


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The Co-operatives suffer from certain weaknesses like political interference, absence of

professionalism, high establishment cost and dependence on state aid. The co-operatives have

got certain opportunities, which can be exploited. At the same time there are certain threats,

which the co-operatives have to confront in future.

Increasing professional skill, upgradation of technology, improving the quality of

products and services and reducing cost of management are the measures of increasing the

efficiency and competency of the co-operatives.

The Co-operatives must be developed because there is no other suitable agency to bring

about socio-economic development in the country. The Royal Commission on Agriculture had

rightly said in 1928, "If Co-operation fails, there will fail the best hope of rural India". The

Country celebrated the cooperative centenary celebrations. At this juncture, it is appropriate to

make SWOT analysis of the Indian Co-operative movement. In this SWOT analysis, the

strengths and weaknesses of Co-operative movement in India and the opportunities, which can

be exploited and also the threats, which have to be faced in future are analysed.

STRENGTH WEAKNESSES OPPORTUNITIES THREATS

Social Principles

Wide net work

Democratic control

Mutuality

People's support

Rural AccessibilityState's Support

Integration

Leadership

Lack of Autonomy

Dependency on Govt

Political Interference

Absence of Professionalism

Duality of Control

High Establishment Cost

Professional Management

Diversification of Activities

Expansion of Business

Competition

Disloyalty of members

Corruptive practices


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I. STRENGTH OF THE CO-OPERATIVE MOVEMENT.

1) SOCIAL PRINCIPLES :

The Co-operative movement had emerged as an alternative to other forms of business

organisations to safeguard the interest of the weaker section of the society. Improving the

economic conditions of the members is the primary objective of the co-operatives. The

principles of co-operation and the values of co-operation guide the co-operatives in the right

direction.

2) WIDE NETWORK:

The Cooperative movement in India covers 100 percent of the villages and 71 percent of the

rural households with a network of more than 5 lakhs co-operatives of different kinds. There are

19 national level co-operative federations, 367 state level co-operative federations and 2890

district level co-operative federations in India. With this wide network, the co-operatives are

able to contribute much to the national economy.

3) DEMOCRATIC CONTROL:

The members of the co-operative societies enjoy equal rights of voting and participation in

the administration of the society. The general body of members, which is the supreme authority,

elects the Board of management on the basis of democracy. Elected boards should legitimately

manage co-operatives without slightest interference from the Government or the Registrar of Co-

operative societies.

4) MUTUALITY:

" Each for all and all for each" is the essence of co-operation. Through mutual help, the

common goal is achieved.


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5) PEOPLE'S SUPPORT:

The co-operatives have a got larger membership, with 230 million. People in India. The

success of any business depends on the customers' support. In co-operatives the members are the

beneficiaries. They support the co-operatives, inturn the co-operatives support them.

6. RURAL ACCESSIBILITY:

Rural Penetration is an important strength. Private sector and multinational companies do

not have the accessibility to the extent the co-operatives have. The Co-operative credit

institutions and dairy co-operatives have more accessibility in rural areas.

7. STATE'S SUPPORT

Since the introduction of the movement, the central and state governments have been

extending support to the cooperative movement in many ways. Enacting laws for co-operatives,

framing policy on cooperatives, allocation of funds, appointing committees and commissions on

cooperation, maintaining separate departments for co-operation, participation in the share capital

are some of the steps taken by the government. The state's support has contributed much to the

development of co-operatives.

8. INTEGRATION :

The federal system provides for the inegration of cooperatives from primary to apex or

national level. The primary level institutions are affiliated to the next higher-level institution.

This is known as vertical integration. Cooperatives at the same level cooperate with each other.

This is known as horizontal integration. Cooperation among cooperatives results in integration.

9. LEADERSHIP

In cooperatives the leaders emerge from among the members with leadership qualities. They

guide the societies in right path in the fulfillment of the objectives.

II WEAKNESSES OF THE COOPERATIVE MOVEMENT


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1) LACK OF AUTONOMY

Now a days cooperatives suffer from lack of autonomy. State partnership in cooperatives caused

the introduction of many restrictive provisions in various state cooperative societies acts. The

restrictive provisions eroded the autonomy and independence of cooperatives. Restrictive

provisions are to be removed.

2. DEPENDENCY ON GOVERNMENT:

The cooperatives are unable to generate resources internally. The All India Rural Credit

Survey Committee had recommended the state's participation in the share capital of the

cooperatives to strengthen their owned funds for increasing their borrowing power. The

cooperatives have been depending heavily on Government and other agencies for finance.

3. POLITICAL INTERFERENCE

Dedicated leaders are a prerequisite for the success of cooperatives. Now a day's most of the

societies do not have such leaders. The politicians, in the name of leaders, interfere in the affairs

of the cooperatives. This affects the movement very much.

4. ABSENCE OF PROFESSIONALISM

Cooperatives also suffer from the absence of professionalism. Knowledge and skills are

required to manage new challenges due to changes in the market economy. The quality of

human resource is important for the success of cooperatives in the competitive world. Further,

the cooperatives do not follow scientific method of selection and they do not pay remunerative

salaries.

5. DUALITY OF CONTROL

The cooperative banks are coming under the control of Reserve Bank of India and the

Registrar of cooperative societies.

This dual control hampers the efficient working of the cooperative banks. The department

control is not necessary in the case of cooperative banks.


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6. HIGH ESTABLISHMENT COSTS:

Many cooperatives spend more for their establishment and contingencies. This results in

declining profitability. They have to restrict establishment and computerise the work to the

extent possible.

III OPPORTUNITES FOR THE COOPERATIVES

1. PROFESSIONAL MANAGEMENT:

Human Resource Development is needed to meet the challenges before cooperatives. The

need for improving professional competence of the employees of the cooperatives has been

stressed. The cooperatives can appoint persons with professional skill for the efficient

management of cooperatives. We have got a network of Cooperative Training Institutions,

which can fulfill the needs of cooperatives.

2. DIVERSIFICATION OF ACTIVITIES

The cooperatives can diversify their activities, their products and the services. Already the

Agriculture and Rural Development Banks started lending for Non-Farm Sector activities.

Similarly, the marketing cooperatives and consumer cooperatives may expand their processing

activities. Diversification of activities helps for survival and growth.

3. EXPANSION OF BUSINESS:

Under the free market economy, the agricultural produce, manufactured goods and processed

food can be sent to any country with limited import duty. The agricultural cooperatives can

exploit this opportunity for exporting fruits, pulses, spices etc, in a larger scale. The weavers

cooperatives can make use of this opportirty for exporting their products.


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IV THREATS TO THE COOPERATIVES

1. COMPETITION

Cooperatives face tough competition from the private sector. The farming community and agro

based industrial units may face stiff competition in the sale of their products. The private sector

banks provide better service than the service provided by cooperative barks. The cooperatives

are not able to meet the expected standards and quality of products and services.

2. DISLOYALTY OF MEMBERS:

The success of cooperatives depends upon the loyalty of their members. Now a days the

members are not loyal to their organisation. They do not respect their agreements. In credit

cooperatives, members do not repay their loans promptly and due to this attitude the amounts of

Non- Performing Assets are increasing. This makes the credit institutions ineligible to finance.

2. INCREASING TREND OF CORRUPTIVE PRACTICES

Corruptive practices in cooperative institutions are increasing day by day. Recently, many

cases of malpractices, and financial mismanagement in credit cooperatives were found in

TamilNadu. Constant vigilance and supervision can prevent such malpractices.

CONCLUSION

Cooperative movement is playing a significant role in the economy of our country by

giving great strength to the economic progress. The Governments, both central and states, shall

continue to help the cooperatives, but they shall not interfere in the functions of cooperative.

Restrictive provisions in the existing cooperative laws must be eliminated by making

amendments in the lines of the Model Cooperatives Societies Act, 1991 or the Multi - State

Cooperative Societies Act, 2002. This will pave the way for the development of true

cooperatives.

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