- The Reserve Bank of India (RBI) is the Central Bank of India, established in 1935 under the RBI Act, 1934.
- It regulates commercial banks (Indian and foreign) and Non-Banking Finance Companies (NBFCs) in the country.
- RBI controls money supply and credit and formulates and implements the monetary policy of India.
- It acts as the Banker’s Bank by providing loans and maintaining cash reserves of commercial banks.
- RBI functions as the Lender of the Last Resort by giving financial assistance to banks during emergencies.
- It performs the Clearing House function by settling inter-bank payments through book entries.
- RBI is the Custodian of Foreign Exchange and works to maintain stability in the exchange rate of the Indian currency.
Topics
Introduction to Human Resource Management
- Human Resource Management
- Characteristics of Human Resource Management
- Importance of Human Resource Management
- Human Resources as a Competitive Advantage
- Functions of Human Resource Management
- Overview of Introduction to Human Resource Management
Job Analysis and Manpower Planning
- Job Analysis
- Relevance of Job Analysis
- Job Description or Position Description
- Job Specification or Man Specification or Employee Specification
- Job Enlargement
- Job Enrichment
- Manpower Planning
- Manpower Estimation
- Overview of Job Analysis and Manpower Planning
Staff Recruitment
- Recruitment
- Characteristics of Recruitment
- Sources of Recruitment: Internal Sources
- Sources of Recruitment: External Sources
- Differences Between Internal and External Sources of Recruitment
- E-recruitment
- Overview of Staff Recruitment
Staff Selection
- Meaning and Definition of Staff Selection
- Difference Between Selection and Recruitment
- Steps in Employee Selection Process
- Psychological Tests
- Interviews
- Types of Interviews
- Limitations of Interview
- Overview of Staff Selection
Staff Training
- Training
- Comparative Overview of Training, Education, and Development
- Importance of Training
- Types of Training
- Preparation of Training Programme
- Methods and Techniques of Training: On-the-Job Training
- Methods and Techniques of Training: Off-the-Job Training
- Types of Employee Training: Key Distinctions
- Hindrances to Training
- Benefits of Training to Employer and Employee
- Overview of Staff Training
Staff Morale
- Meaning and Definition of Staff Morale
- Characteristics of Staff Morale
- Morale Productivity Matrix
- Measurement of Morale
- Factors Influencing Morale
- Determinants of Morale
- Methods of Raising Morale
- Indicators of Low Morale or Disadvantages of Low Morale
- Passive Effects of High Morale or Advantages of High Morale
- Importance of Team Work
- Measures for Building Effective Teams
- Overview of Staff Morale
Staff Motivation
- Meaning and Definition of Staff Motivation
- Motivation Process
- Characteristics of Staff Motivation
- Difference Between Motivation and Morale
- Importance of Staff Motivation
- Factors Influencing Motivation
- Difference Between Financial/Monetary and Non-Financial/Non-Monetary Incentives
- Maslow's Theory of the Hierarchy of Human Needs
- Herzberg's Two Factor Theory
- Critical Appraisal of Herzberg's Theory
- Relationship Between Maslow and Herzberg Theories
- Overview of Staff Motivation
Staff Remuneration
- Meaning and Definition of Staff Remuneration
- Money Wages and Real Wages
- Methods of Wage Payment: Time-Rate System
- Methods of Wage Payment: Piece-Rate System
- Distinction between Time-Rate and Piece-Rate System
- Wage Records
- Various Staff Benefits
- Gratuity
- Types of Leave
- Overview of Staff Remuneration
Staff Leadership
- Meaning and Definition of Leadership
- Distinction Between Leadership and Management
- Importance of Leadership
- Leadership - Qualities of a Good Leader
- Leadership Styles
- Difference between Different Styles of Leadership
- Leaders: Born or Made?
- Leadership Continuum
- Situational Leadership
- The Managerial Grid
- Overview of Staff Leadership
Staff Appraisal
- Performance Appraisal
- Potential Appraisal
- Objectives of Performance Appraisal
- Importance of Performance Appraisal
- Method of Performance Appraisal
- Appraisal by Results
- Appraisal by Superior Staff
- The 360° Appraisal
- Overview of Staff Appraisal
Staff Promotion and Transfer
- Meaning and Definition of Promotion
- Benefits of Promotion
- Limitations of Promotion
- Open and Closed Policy of Promotion
- Dry Promotion and Upgrading
- Demotion
- Requirements of a Sound Promotion Policy
- Bases of Promotion
- Meaning and Definition of Staff Transfer
- Need and Purposes of Staff Transfer
- Types of Transfer
- Is Transfer a Punishment?
- Transfer Policy
- Overview of Staff Promotion and Transfer
Staff Separation
- Introduction of Staff Separation
- Means of Staff Separation
- Exit Interview
- Overview of Staff Separation
Emerging Trends in Human Resources
- Flexible Hours
- Permanent Part Time
- Work from Home
- Retainership
- Virtual Team
- Self-managing Teams (SMTs)
- Overview of Emerging Trends in Human Resources
Business Communication
- Communication
- Importance of Communication in Business
- Elements of the Communication Process
- Oral or Spoken Communication
- Written Communication
- Distinction between Oral Communication and Written Communication
- Gestural Communication
- Visual Communication
- Distinction Between Gestural and Visual Communication
- Internal Communication
- External Communication
- Distinction Between Internal and External Communication
- Formal Communication
- Informal Communication or Grapevine
- Distinction Between Formal and Informal Communications
- Horizontal Communication
- Vertical Communication
- Diagonal Communication
- Barriers to Communication
- Overcoming the Barriers to Communication
- Current Trends in Business Communication
- Overview of Business Communication
Business Correspondence
- Needs and Functions of Business Correspondence
- Elements and Components of Business Letters
- Essentials of a Good Business Letter
- Types of Letters
- Overview of Business Correspondence
Reports and Report Writing
- Meaning and Definition of a Report
- Characteristics of Reports
- Purposes or Functions of Reports
- Essentials of a Good Report
- Format of a Report
- Types of Reports
- Overview of Reports and Report Writing
Various Business Entities
- Sole Proprietorship
- Concept of Partnership
- Difference Between Partnership and Sole Proprietorship
- Private Limited Company
- Public Limited Company
- Difference Between Private Company and Public Company
- Overview of Various Business Entities
Sources of Business Finance
- Kinds of Shares> Equity Shares
- Kinds of Shares> Preference Shares
- Concept of Debentures
- Retained Profits
- Loans
- Public Deposits
- Trade Credit
- Accounting Treatment> Discounting the Bill of Exchange
- Global Depository Receipts (GDRs)
- Angel Investors
- Venture Capitalists
- Crowd Funding
- Peer-To-Peer Funding
- Factoring
- Overview of Sources of Business Finance
Globalisation
- Globalisation
- Nature of Globalisation
- Opportunities and Threats of Globalisation
- Transformation of Business by Globalisation
- Overview of Globalisation
E-Business
- Concept of E-business
- Comparative Study of E-Business
- Nature of E-Business
- Importance of E-Business
- Online Means of Conducting Business
- Overview of E-Business
Outsourcing
- Concept of Outsourcing
- Parties Involved in Outsourcing
- Concept of Outsourcing
- Business Process Outsourcing (BPO)
- Knowledge Process Outsourcing (KPO)
- Legal Process Outsourcing (LPO)
- Overview of Outsourcing
Business Regulators and Intermediaries
- Concept of Regulators and Intermediaries
- Reserve Bank of India (RBI)
- Securities and Exchange Board of India (SEBI)
- Insurance Regulatory and Development Authority of India (IRDAI)
- Pension Fund Regulatory and Development Authority (PFRDA)
- Food Safety and Standards Authority of India (FSSAI)
- Bureau of Indian Standards Authority (BISA) - Indian Standard Institute (ISI)
- Overview of Business Regulators and Intermediaries
Estimated time: 37 minutes
CISCE: Class 12
Key Points: Regulators and Intermediaries
- Regulators are authorities set up by the Government to control and supervise specific individuals and organisations.
- Their main objectives are to ensure ethical functioning of organisations and to protect the interests of the public.
- For example, SEBI regulates stock exchanges, brokers, mutual funds and protects investors’ interests.
- Intermediaries are individuals or organisations that act as middlemen between two groups in the economy.
- Examples of intermediaries include stock brokers, merchant bankers, depositories and credit rating agencies.
CISCE: Class 12
Difference Between Regulators and Intermediaries
| Basis of Distinction | Regulators | Intermediaries |
|---|---|---|
| Meaning | Authorities which regulate intermediaries | Middlemen between corporate sector/business firms and investors/consumers |
| Nature | Official agencies | Unofficial or private agencies |
| Appointment | Appointed by the Government | Not appointed by the Government |
| Motive | Social motive | Economic motive |
| Example | SEBI | Stockbrokers |
CISCE: Class 12
Key Points: Reserve Bank of India (RBI)
CISCE: Class 12
Key Points: Securities and Exchange Board of India (SEBI)
- SEBI (Securities and Exchange Board of India) was established in 1988 and became a statutory body in 1992 under the SEBI Act, 1992.
- It regulates and supervises the securities market in India, including stock exchanges and companies issuing securities.
- SEBI controls intermediaries such as brokers and merchant bankers to ensure fair practices.
- Its main objective is to protect the interests and rights of investors.
- SEBI ensures orderly functioning and development of the securities market and acts as the watchdog of the capital market.
CISCE: Class 12
Key Points: Functions of SEBI
- SEBI performs protective functions by preventing fraud, insider trading, price rigging, and unfair trade practices to protect investors.
- It carries out developmental functions such as promoting the training of intermediaries, conducting research, and educating investors.
- SEBI performs regulatory functions by framing rules for stock exchanges and registering and controlling brokers, merchant bankers, and mutual funds.
- It supervises important market intermediaries like stock exchanges, stock brokers, merchant bankers, depositories, and credit rating agencies.
- Depositories (NSDL and CDSL) help investors hold securities in electronic form through demat accounts, reducing paperwork and risk.
- Credit rating agencies like CRISIL and ICRA assess the creditworthiness of securities and help investors make informed decisions.
- Overall, SEBI ensures transparency, fairness, and orderly functioning of the securities market in India.
CISCE: Class 12
Key Points: Mutual Funds
CISCE: Class 12
Key Points: Insurance Regulatory and Development Authority of India (IRDAI)
- IRDAI is the apex statutory body that regulates and supervises the insurance industry in India.
- It was established under the IRDAI Act, 2014, and is appointed by the Government of India.
- Its main objective is to protect the interests and rights of policyholders.
- IRDAI regulates insurance companies and agents by issuing licences and setting rules and standards.
- It ensures transparency, fair practices, proper investment of funds, and maintenance of solvency by insurance companies.
CISCE: Class 12
Key Points: Food Safety and Standards Authority of India (FSSAI)
- FSSAI was established under the Food Safety and Standards Act, 2006 to regulate food safety in India.
- It lays down science-based standards for food and regulates manufacture, storage, distribution, sale, and import of food items.
- FSSAI frames rules and guidelines to ensure safe and wholesome food for human consumption.
- It provides scientific advice and technical support to Central and State Governments on food safety matters.
- It accredits laboratories and certification bodies to maintain food safety standards.
- FSSAI creates awareness, training programmes, and information networks related to food safety.
- Food processors and food packers operate under FSSAI regulations to ensure safe processing and proper packaging of food items.
CISCE: Class 12
Key Points: Indian Standard Institute (ISI)
- The Indian Standards Institution (ISI) was established in 1947 and later replaced by the Bureau of Indian Standards (BIS) in 1987 under the BIS Act, 1986.
- BIS is a statutory body that sets national standards and promotes quality control in India.
- Its main objective is to develop standardisation, marking, and quality certification to create quality awareness.
- BIS prepares standards for products, certifies industrial and consumer goods, and protects consumers by ensuring product quality.
- It promotes both national and international standards and helps reduce production costs by eliminating unnecessary varieties.
- BIS provides quality marks such as ISI mark for consumer goods and BEE mark for electrical goods.
- BIS plays an important role in improving the quality of industrial goods, electrical goods, and consumer goods in India.
