Definition of financial institutions

           FINANCIAL INSTITUTIONS        Financial Institutions can be defined as the business organizations that deal in money, though some may deal in other financial assets such as shares, letters of credit, bills of exchange, etc. Except for the Central Bank, they make profits by trading in money; that is, through the process … Read more

Balance of payments

     Balance of payments can be defined as the systematic record or summary statement of accounts of all the major economic or trading transactions between a reporting country and the rest of the world, during a specific period, usually one year. Balance of payments is a summary of receipts (income) and payments (expenditure) of a country in the … Read more

Meaning of Bank: Different Types of Banks

Banks are financial institutions that are licensed to accept deposits and loans. Banks may also offer financial services such as wealth management, currency exchange, and safe deposit boxes. There are different types of banks, including Development banks, Commercial bank, Merchant banks, and Mortgage banks etc. In most countries, banks are regulated by the national government … Read more

Commercial policy in international trading

COMMERCIAL POLICY IN INTERNATIONAL TRADING Commercial policy in international trade refers to deliberate efforts on the part of a government to intervene in the country’s trade relations with other countries. The commercial policy aims at regulating trade and protecting the economy. INSTRUMENTS OF COMMERCIAL POLICY Several commercial policy instruments are used. These include: (i) Tariffs: … Read more