EDUCTION

    Types of Foreign Exchange Transactions Definition: The Foreign Exchange Transactions refers to the sale and purchase of foreign currencies. Simply, the foreign exchange transaction is an agreement of exchange of currencies of one country for another at an agreed exchange rate on a definite date. 1. Spot Transaction: The spot transaction is when the buyer and seller of different currencies settle their payments within the two days of the deal. It is the fastest way to exchange the currencies. Here, the currencies are exchanged over a two-day period, which means no contract is signed between the countries. The exchange rate at which the currencies are exchanged is called the Spot Exchange Rate. This rate is often the prevailing exchange rate. The market in which the spot sale and purchase of currencies is facilitated is called as a Spot Market. 2. Forward Transaction: A forward transaction is a future transaction where the buyer and seller enter into an agreement of sale and...

    CO-OPERATIVE MANAGEMENT Co-operative Movement in India has grown up into a huge network of primary, central, state and national as federal organizations covering the various facets of the economy viz, Banking, Agriculture, Supply, Distribution, Processing, Marketing, Housing, Transportation and Small Scale Industry. It means that it covered the entire sectors of the economy such as Primary, Secondary, and tertiary. But a notable feature is that most of the cooperatives in India are not efficiently working thereby they incur losses and have not achieved their goals. Lack of member awareness, vigilance and solidarity and the lack of professional management are some of the causes leading to dormancy or inefficiency of their performance. Cooperatives alone conform to the requirements of the new social order based on the values of socialism and democracy which is envisaged in the constitution of India.  CONCEPT OF CO-OPERATIVE MANAGEM ENT Cooperation means living, thinking...

   THE DEMOCRATIC STRUCTURE OF THE COOPERATIVE  Within the Cooperatives, specific decisions are in the hands of the general assembly. The Co-op Acts provide the foundation for this authority by law, however the co-op’s bylaws may also provide that specific policy decisions, such as wage rates, may require approval by the members’ meeting. Importantly the bylaws of the co-op, which regulate the life of the co-operative, must be approved by the members and can only be changed by a meeting of the members. One of the key legal responsibilities of the members is to elect the board of directors of the co-op. The bylaws will specify the number of directors, their qualification and length of terms. Directors, by law, are responsible for the affairs of the co-operative. Their duty is always to make decisions in the best interests of the co-op as a whole. The directors, once elected, in turn elect other officers like president, vice-president, secretary, and treasurer. These office...