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Treasury Single Account, Revenue Generation and Utilization among Nigerian Universities - A Pre–Post Assessment
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One of the causes of financial crises is identified as lack of financial literacy. India, a developing country, is entering the second phase of financial sector reforms. The integration of the economy with the world economy will increase further, with the risk of a world crisis impacting the Indian economy. In India, there is a large unorganized sector, and the government is withdrawing from pension schemes even in the organized sector. In the absence of any social security scheme, the Indian economy will be in a state of major instability after the demographic dividend starts decreasing after 20 or 25 years. Thus, the improvement of financial literacy in the country is imperative for the financial well-being of individuals and for the economy. The significance of financial literacy as a transformation agent on the financial inclusion agenda of the nation is undisputed in academic and practitioner circles. This paper provides a review of the definitional and measurement aspects of financial literacy, and an attempt is made to identify the various aspects involved in defining and measuring financial literacy in India. The researcher examined the level of financial literacy of collegegoing students and analyzed their financial behavior using mean score analysis. The research found that the borrowing behaviors of the students are high, and their interest in learning the life skill of financial management is also high.
Working capital means the funds available and used for the day-to-day operations of a business. Efficient management of working capital is essential for the successful operation of a business enterprise and improving its rate of return on the capital invested in assets. Working capital management involves balancing movements related to five main items, such as cash management, accounts receivable, accounts payable, short-term debt management, and inventory, to ensure a business can operate efficiently with adequate resources. It is also essential to maintain the liquidity portion to ensure that the day-to-day operations of the business continue. The study is based on secondary data from records and reports. The study aims to compare the present financial performance with that of the past five years and examine the company's current financial position. The data used in this study was derived from the balance sheet, profit and loss statements, and cash flow statements. The types of analysis used in this study to reveal the financial position of the company were ratio analysis and comparative balance sheet analysis. Additionally, the study incorporates trend analysis to provide a comprehensive understanding of the company's financial trajectory. By examining both historical data and current financial indicators, this research seeks to offer valuable insights into the company's performance and potential areas for improvement.
The aim of the study was to determine the factors that are perceived as important by small-scale industries when taking loans from commercial banks and to find out the preferences of small-scale industries regarding sources of capital to be used in the future. The primary data were collected through a pre-tested and structured questionnaire. The survey was conducted on 295 units, but only 250 units provided a full response. Therefore, the analysis is based on the responses from these 250 respondents. The findings indicated nine factors that are considered very important by small-scale firms when they apply for loans. To fulfill their working and fixed capital requirements, small-scale firms need an adequate amount of finance within a specific period of time. Extensive documentation and complicated procedures generally delay the sanctioning of loans, resulting in loss of production and sales for small firms. Due to these reasons, small-scale firms consider own funds as the most preferred source of finance. Therefore, there is a need to strengthen the relationship between banks and borrowers in such a way that relationship lending is given importance along with transaction-based lending.
Entrepreneurs play a key role in any economy, using the skills and initiative necessary to anticipate needs and bring new ideas to the market. An entrepreneur is an individual who creates a new business, bearing most of the risks and enjoying most of the rewards. Entrepreneurs who prove to be successful in taking the risks of a startup are rewarded with profits, fame, and continued growth opportunities. Entrepreneurship among women is a relatively recent phenomenon, which is gradually changing with the growing sensitivity of the roles, responsibilities, and economic status of women in society in general, and in the family in particular. A woman entrepreneur is a person who accepts challenging roles to meet her personal needs and become economically independent. Many women possess this quality, but they have never had a platform to showcase their talents, and hence, they don't know their real abilities. For women entrepreneurs, starting and operating a business involves considerable risks and difficulties, especially in the Indian social environment where women have always lived as subordinate to men. However, the Government of India, through increasing education levels for women and raising social awareness regarding the role women play in society, is aiming to address this issue. This paper seeks to investigate the problems and challenges faced by women entrepreneurs in Surandai, Tenkasi District.
Money laundering is a menace to economies and a central concern globally. The financial system remains the primary target of money launderers. While the risk of money laundering cannot be entirely eliminated, it can be mitigated through specific preventative measures. In this regard, FATF took its initial international step by presenting its 40 recommendations to combat Money Laundering and Terrorist Financing. These recommendations have since evolved into a model for successful national and global Anti Money Laundering and Countering Financing of Terrorism (AML/CFT) controls. This paper aims to assess and describe the anti-money laundering (AML) practice and framework within the Indian financial system, as well as to examine how the Indian financial system has addressed FATF's recommendations on AML. The study utilizes secondary data obtained from books, annual reports, and selected websites to achieve its objectives. The findings of the study demonstrate that the Anti-Money Laundering (AML) regime in the Indian financial system is regulated by the Prevention of Money Laundering Act (PMLA) along with an established regulatory and supervisory framework to address FATF Recommendations. The AML framework of the Indian financial system includes FIU-India, which operates as a national agency for receiving, processing, analyzing, and disseminating information related to suspicious transactions. Additionally, the Reserve Bank of India (RBI), Securities Exchange Board of India (SEBI), and Insurance Regulatory Development Authority (IRDA) serve as the regulatory and supervisory bodies for financial institutions in India. Regulating, supervising, and developing Anti-Money Laundering (AML) policies and practices for the Indian financial sector fall under the responsibilities of these three authorities.
