Money Laundering

What precautions should be taken by a banker before advancing

What precautions should be taken by a banker before advancing What precautions should be taken by a banker before advancing the loan or Investment? No doubt the advancing of loan is also risk as well. If the loan is for a longer period then risk will be also greater. So before advancing the loan a banker should keep in view the following precautions : Business Volume: Character : Character of the borrower depends upon honestly, family background, nature of employment, habits and the record of the past. So before advancing loan these things must be considered. 2. Ability To Repay : Before advancing loan a banker must be satisfied with the sources of the repayment of the funds. 3. Check The Assets : The banker should also check the property capital and borrower. This property can kept as a security of loan. In other words if the businessman financial condition is sound then it can be lended otherwise not. 4. Purpose Of Financing :- Funds should be provided f

Statutory Protection to Collecting Banker

Statutory Protection to Collecting Banker Section 131 of the Negotiable Instruments Act provides protection to a collecting banker who receives payment of a crossed cheque or draft on behalf of his customers. According to Section 131 of the Act “a banker who has, in good faith and without negligence, received payment for a customer of a cheque crossed generally or specially to himself shall not, in case the title to the cheque proves defective, incur any liability to the true owner of the cheque by reason only of having received such payment.” The protection provided by Section 131 is not absolute but qualified. A collecting banker can claim protection against conversion if the following conditions are fulfilled. 1. Good Faith and Without Negligence: Statutory protection is available to a collecting banker when he receives payment in good faith and without negligence. The phrase in “good faith” means honestly and without notice or interest of deceit or fraud and does n

Computer related information

Computer related information 1. features of different generation of computers with example The computer has evolved from a large-sized simple calculating machine to a smaller but much more powerful machine. Each generation of computer is designed based on a new technological development, resulting in better, cheaper and smaller computers that are more powerful, faster and efficient than their predecessors. First Generation (1940 to 1956): The first generation of computers used vacuum tubes for circuitry and magnetic drums for memory. The input to the computer was through punched cards and paper tapes. The output was displayed as printouts. The instructions were written in machine language . The first generation computers could solve one problem at a time. The computation time was in milliseconds. Second Generation (1956 to 1963): Transistors replaced the vacuum tubes of the first generation of computers. Transistors allowed computers to become smaller, fas

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