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Write a note on the assets and liabilities of a commercial bank .

Assets And Liabilities of a Commercial Bank. Introduction :A commercial bank deals in the business of banking i.e. accepting money from the public for the purpose of lending with a view to make profits.Thus, they play a pivotal role as a financial intermediary in an economy.Around banking system is, therefore, extremely essential for the development of a nation.As in case of any other business, the soundness of the banking business can be analysed through the bank’s profit and loss account and its balance sheet. Meaning :The balance sheet of a commercial bank is a statement of its assets and liabilities at a particular time.The assets of the bank include all the amounts owed by others to the bankThey represent the application of funds to generate income for the bank.The liabilities of the bank include all the amounts due to depositors and share holders.The liabilities represent the sources of funds through which bank raises funds for its business. Explanation : ASSETS OF A COMMERCIAL BANK :The funds raised by the bank are applied to various terms that form the assets of the bank.These assets are represented in order of their liquidity.They can be categorized as follows :1. CASH BALANCES :Every bank holds cash balances to meet its customers’ requests for withdrawalThese balances are held with the bank itself, with other banks and with the RBIA certain proportion of cash balances is also held with the Central Bank.In India, it is obligatory for banks to keep a certain proportion of its total deposits with the RBIThough cash balances do not earn direct revenue to the bank, they are of utmost importance to maintain sound liquidity position.1. MONEY AT CALL AND SHORT NOTICE :These are short term loans ( between 1 day to 15 days ) made in the money market.The loans are repayable at the insistence of either the borrower’s demand or the lender’s demand.These assets are highly liquid as they can be quickly converted into cash at call (i.e. on demand ) or at a short notice.These loans are generally given to the bill marketTo the stock market between banksTo individuals having high financial status.These loans may be given against collateral security.1. DISCOUNTING / PURCHASING OF BILLS OF EXCHANGEBanks provide credit to businessmen against discounting of bills.The bill finance is repayable either demand or after a period not exceeding 90 days, whichever is EARLIER.Thus, they can be converted into cash in less than 3 months.These discounted bills can be further rediscounted by the bank with other financial institutions.Banks may also purchase these bills and obtain the funds on due date.1. INVESTMENTS :The investments made by a bank form the major part of its assets.The investments of a commercial bank can be categorized as :a) Investment in SLR securities.b) Investment in non- SLR securities.a) SLR securities :At present , as per the RBI norms, commercial banks are statutorily required to invest 25% of their demand and time liabilities in the Government and Approved Securities. Government SecuritiesSecurities issued by central and state government agencies.Securities issued by PSUs of the Central and the state governments. Approved securities :Securities issued by Quasi- Government agencies.Such securities are issued on a case to case basisb) Non – SLR securities :After the liberalization of investment norms for banks (1985), commercial banks have become active players in the financial market.Hence banks invest in non- SLR securities like :Commercial papers } of PSUs and private sectors,Mutual funds}Shares & stocks.}Bonds & debentures}The limit on investment in capital market has gradually shown an upward trend.1. LOANS AND ADVANCES :This is the most important item in the bank’s asset column.These include the following: Cash credit :Borrower withdraws funds on collateral securityCredit limit is sanctioned by the bank .Interest is charged on the amount outstanding. Overdraft :It is a short term advanceIt is allowed on current accounts.Interest is charged. Demand loans :They are short – term loans.They are to be repaid on demand made by the creditor. Term loans :These loans are generally given for a period exceeding one year.Loans are given against the security of tangible assets.They have a specific schedule of repayment.1. OTHER ASSETS : These include :Fixed assets.Bank premisesItems in transitfurnitures and fixturesthough they do not earn direct revenue for the bank, they are vital for its day-to-day functioning.LIABILITIES OF A COMMERCIAL BANKS :The funds raised by the banker for carrying out its business are derived from various sources .These founds comprise the liabilities of the bankThey can be categorized as follows :1) PAID-UP CAPITAL :The bank raise their share capital for commencing their banking business as well as for expansion and nodernisation.this is actvally the contribution of funds by the share holders.Hence it is listed in the ‘ liabilities’ column of the balance sheet.1. RESERVES AND SURPLUS :This amount represents the sum of undistributed profit accumulated by the bank over a period of years.According to the Banking Regulation Act 1949, a commercial bank needs to provide for at least 20% of its profit every year to reserves.Reserves are maintained to meet contingenciesSince the reserves actually belong to the shareholders, they are the liabilities of the bank.1. DEPOSITS :Banks accept various forms of deposits from the people.These deposits are the major source of funds for the bankThe main types of deposits are :Current deposits} (refer to notes on Banking function for detailed explanation )Savings deposits }Fixed deposits }Recurring deposits }1. BORROWINGS :Commercial banks resort to borrowings from other financial institutions including the RBI an other commercial bank They may be in the form of direct borrowing or re financing It also comprises of overseas borrowings of Indian banks and borrowings of foreign branches. They are generally utilized to meet working capital needs (medium & long term )1. OTHER LIABILITIES : These liabilities are incurred by the bank in course of banking operations. They include draftsPay slipsTraveller’s chequesBankers cheques etc. Other liabilities include : interest accrued but not due provision for tax, etc. CONCLUSIONThus, assets and liabilities of a commercial bank reflect the performance and soundness of a commercial bank. ILLUSTRATION :BALANCE SHEET OF A COMMERCIAL BANK AS ON LIABILITIES ASSETS1. Paid-up capital2. Cash balances.3. Reserves and surplus 2.Money at call/short notice.1. Deposits 3.Discounting /purchasing of B/E1. Borrowings 4.Investments1. Other liabilities 5.loans and advances 6.other assets.

Wholesale Banking – Banking For Merchant Banks And Other Financial Institutions

Wholesale banking is often defined as banking services which are provided between merchant banks and other financial institutions. Although, wholesale banking is also a term referred to the wide range of financial services that are provided by financial institutions to various businesses and corporations as well as the government. Retail banking and wholesale banking are two different things. Wholesale banking focuses more on corporate style entities and high-value transactions, while retail banking focuses on individual customers and sometimes small businesses. Sometimes a bank will engage in both wholesale and retail banking.Wholesale banking provides the normal banking services such as checking and savings, certificates of deposit, safe deposit boxes, annuities, retirement funds and other investment opportunities. There are many packages to choose from at a wholesale banking company. Many people discount wholesale banking because they feel their money is not safe but their money is just as safe in the wholesale banking industry as it is in the regular banking industry.Wholesale banking includes providing a large range of services to large, corporations, midsize companies and small businesses. These services are often offered at a discounted rate based on the number of services included in the package. This approach makes it more attractive for a company to place all their financial matters with a single institution rather than spreading them out into different banks and agencies for each banking service that the business needs in order to function.Real estate developers and real estate agents in addition to market investors and others that operated by buying and selling properties or other forms of investments use wholesale banking. The advantage of the wholesale banking is in this application is the ease of access to the total financial portfolio, which makes transactions and transfers between accounts much easier. Wholesale banking also has features that allow for efficient transfers of funds, stock ownership and other financial instruments between financial institutions.Wholesale banking packages that are extended to businesses and government entities can include a range of other financial services as well. Discounted interest rates are commonly included as part of the incentive package for entering into a wholesale financial arrangement. In addition to such valuable support services as consultation on investments, help with the details of major merger acquisitions and various underwriting services are also included in wholesale banking support.Many of the larger banks are actually wholesale banks that deal with large corporations and governments but also deal with regular individuals. You might own a small business and want to deal with the wholesale banker, but don’t know where to find one. You can ask your real estate agent who helped you find your business location if he or she knows of a good wholesale bank or you can look in the local phone book or through the Internet and find several wholesale banks willing to deal with your small business. They do not discriminate on how small or how larger businesses if you want to put your money in their bank and bundle it with packages such as savings and IRAs and CDs that they will be happy to assist you.

INTRODUCTION :A commercial bank is a business entity that deals in banking with a view to make profits.Every commercial bank aims to make profits in such a way that it does not compromise on its objective of liquidity, which is vital for its own security and safety. Meaning :Since a commercial bank has to make profits in such a way that its liquidity remains intact, it diversifies its funds into various assets.A well – diversified and balanced asset portfolio ensures its sound and successful working.Various factors play an important role in determining the profitability and liquidity of commercial banks.These factors are taken into consideration while creating the asset portfolio of the banks. EXPLANATION :A) FACTORS AFFECTING THE PROFITABILITY OF COMMERCIAL BANKS :1) Amount of working funds :Funds deployed by a bank in profitable assets are the working funds of the bank.Profitability of a business is directly proportionate to the amount of working funds deployed by the bank.2) Cost of funds :Cost of funds are the expenses incurred on obtaining funds from various sources in the form of share capital, reserves, deposits, and borrowings.Thus, it generally refers to interest expenses .Lower the cost of funds, higher the profitability.3) Yield on funds ;The funds raised by the bank through various sources are deployed in various assets.These assets yield income in the form of interest.So, higher the interest, greater the profitability.4) Spread :Spread is defined as the difference between the interest received (interest income ) and the interest paid (interest expense ).Higher spread indicates more efficient financial intermediation and higher net income.Thus, higher spread leads to higher profitability.5) Operating Costs :Operating costs are the expenses incurred in the functioning of the bankExcluding cost of funds, all other expenses are operating costs.Lower operating costs give rise to greater profitability of the banks.6) Risk cost :This cost is associated to the probable annual loss on assets.They include provisions made towards bad debts and doubtful debts.Lower risk costs increase the profitability of banks.7) Non – interest income :It is the income derived from non – financial assets and servicesIt includes commission & brokerage on rencittance facility, rent of locker facility, fees for underwriting and financial guarantees, etc.This income adds to the profitability of banks.8) Level of technology :Use of upgraded technology normally leads to decline in the operating costs of banks.This improves the profitability of banks.9) Level of Non – performing assets (NPAs):The profitability of a bank is inversely related to the level of NPAs.Hence, over the years, the NPAs of commercial banks have greatly declined.10) Level of competition :Increase in competition generally leads to higher operating costs.This leads to lower profitability.B ) FACTORS DETERMINING THE LIQUIDITY OF COMMERCIAL BANKS :1) STATUTORY REQUIREMENTS :The extent of liquid reserves held by banks depends on the statutory requirements of the Central Bank (i.e. the RBI)According to RBI, commercial banks have to maintain a certain CRR(cash Reserve Ratio ) and SLR (statutory liquid ratio)Higher CRR and SLR result in lower liquidity.2) Banking Habits of the people :The nature of the economy has an impact on the banking habits of the people.In developing countries, cheque transactions are confined to business. Individuals depend more on cash transactionsHence, the need for liquidity is comparatively higher.3) Monetary transactions :The number and magnitude of monetary transactions determine the liquidity of banks.Higher monetary transaction lead to higher liquidity.4) Nature of Money market :In case of fully developed money markets, banks buy and sell securities easily.Therefore, liquidity requirement is lower.5) Structure of Banking system :Branch banking system requires lower liquidity since cash reserves can be centralized in the head office.Unit Banking System requires higher degree of liquidity.6) Number and size of Deposits :The number and sized of deposits influence the liquidity of banks.Increase in the number & size of deposits will require higher liquidity.7) Nature of Deposits eposits trade with the banks are of various types like time deposits, demand deposits, short – term deposits, etc. larger demand deposits /short – term deposits need higher liquidity8) Liquidity Policies of other banks :Various banks may function in the same areaSo, liquidity policies of other banks also have an impact on the liquidity of a bank to build goodwill among depositors. CONCLUSION :THUS, various factors determine the liquidity and profitability of commercial banks.So, these factors are taken into consideration while creating the asset portfolio of commercial banks.These factors influence the reconciliation of profitability and liquidity that leads to a sound and successful banking system.

Factoring has been practiced for centuries. The Romans sold promissory notes at a discount as did the Phoenicians. The word “factor” comes from Latin, the language of Rome. It means “to do” or “to make.” The Pilgrim’s journeys to America were financed by advances from a Factor who provided the funds to pay for the journey. The Pilgrims repaid the money with earnings from America. Factoring to this day is an extremely common business practice in Europe whereas many American business men have never heard of it.
Factoring is the selling of your accounts receivable for cash versus waiting 30-60 or 90 days to be paid by your customer. When you provide a Factoring company with copies of your invoices, the Factoring Company uses your invoices to make a loan to your company. It is a simple process and can be automated after the first transaction. Credit is not an issue when providing Accounts Receivable Loans or Financing. The Financial Companies looks at the credit history of the vendor not yours! This is exceptional good for small to medium size business that have been in business for less then two years.
My first experience with Factoring came when one of my Tax clients ending up with a sizable Tax liability one year. He ran a small Trucking company and had very few tax problems in the pass. However, because of a sudden burst in growth he was doing 2 to 3 times more business in the last half of the year. Because he did not have sufficient tax write offs, his tax liability really hit hard. He was actually having serious cash flow problems because of unplanned growth!
We talked about the situation, his taxes were completed and because he had rented a couple of trucks to keep up with the work load, we were able to use the rental cost as a write off. But there was still the self-employment tax and there was no doubt he had an increase in business income.
I didn’t say anything, but I was concerned about his payment for the Tax preparation. I knew he was having cash flow problems and the tax bill did not help. Then he told me about the $30,000 worth of Invoices. Because the invoices had not been paid they were not included in his income for that year so I had no idea that he had invoices in that amount. In fact the invoices where scattered over his desk.
I went on the Internet and started to research “invoices”. I had never really understood Factoring before that time, but I had heard of it. We did not have to Factor my client’s Invoices because he called the company he worked with, explained the situation and they paid him 50% of the Invoice immediately and the balance shortly after.
I had already researched “Factoring” or Accounts Receivable Financing and being a Tax person I was always looking for ways to help my clients pay their taxes as soon as possible, especially if they owed employee taxes.
I put an ad online and within days a CPA called. He had a client who imported culinary products from overseas. They needed to factor a fairly large invoice. I called one of the Factoring Companies explained the situation. The Factoring Company arranged for his company to do a Purchase Order from his supplier overseas. Once the Purchase Order was in place, we factored the Invoice. The client received over 90% of the Invoice amount within days. He then went on to repeat the deal 3 or 4 more times!
Purchase Order Funding is slightly harder to get then Accounts Receivable Financing, however, Purchase Order Funding is very helpful for Business who makes large purchases and resells to a third party.

What Kind of Bank You Should Opt for Finance in India

With the global financial crises ongoing in different parts of the globe, it’s really hard to decide whether to save your finances in the banks. Even bigger banks have no escape with the financial crises that are experiencing right now. You will think many times before deciding what bank you should trust for your finances. When it comes to India, there is different banking systems that you are opt to try for all your banking needs. Indian banking is practice in different sectors that gives more options where to deposit your money.The two major divisions of banks in India are categorized into private banks and public banks. Private banks in India are in the industry for quite sometime now. In fact, private banking is the practice from different parts of India. This takes place during the beginning of the banking systems in the country. With the boost of banking system in India, there are well-known banks in the private sectors that are internationally recognized. Private banks are recognized by the quality banking services and standards. These banks are opting to serve the people at the best quality they can give. With the systems they are implementing, private banks have bright future ahead of the crises experienced all over the world.On the contrary, there are also public sectors banks that you may want to try. This PSU banks are those banks that were nationalized banks in India. When we say nationalized, that means it started as private banks that turns to be under the control of the government. The major benefits of this kind of bank are that you know that the government is on your side. There are many public sectors banks that you can try in India; some of this includes United Bank of India, Oriental Bank of Commerce and Central Bank of India. These banks are nationalized to serve the people in specific field of expertise and industries.Whether private or public, it’s up to you to decide which bank you are going to try. Prior to your decision, make sure you check the bank’s profile. This will assure you the security of your finances. Avoid being bothered by the possibility of bankruptcy. Select the best bank that meets your requirements. Make sure to have the list and see which banks have it all for you. Banks depends on the depositors, so you better select depositors’ choice.

What Is Your Bank Charging You A Guide To Bank Charges

When you’re shopping around for a bank account there are a lot of factors to consider. Many people go for up-front incentives, such as money paid into the bank account, vouchers or a gift. However, it is worth looking at bank accounts in more depth to find out what you might be paying for various transactions. Here are some of the transactions that banks might charge you for.
Authorised Overdraft
An overdraft is like a short term loan. The bank gives you permission to spend more than the funds you have in your account. This amount is usually fixed in consultation with the bank and may be reviewed at stated periods. Some banks have a free authorised overdraft up to a certain limit and charge for any balance over that limit. This is the best way to arrange an overdraft.
Unauthorised Overdraft
When customers spend more than they have in their accounts without arranging an overdraft limit, this is known as an unauthorised overdraft. Banks penalise customers heavily for this by charging an unauthorised overdraft fee of more than £35 in some cases. The excess spending will also be charged interest at a higher rate than normal.
Cheque Services
Some banks charge for clearing cheques more quickly than the standard period (this can range from three to seven days depending on the banks involved and the day of the week). There may also be fees for processing cheques in a foreign currency.
Taking Money Out
Sometimes customers need to set up direct debits, where companies take certain sums from a bank account each month. They may also wish to set up standing orders, where they arrange to pay a certain amount to another bank account or company each month. Some banks charge a setup fee for these services.. It is also worth looking at the daily withdrawal limit on a current account. This can vary widely depending on the bank you choose.
Other Bank Charges
Banks may also charge for other services such as:
1. setting up a loan facility2. changing or issuing foreign currency3. writing cheques that exceed the cleared balance in an account4. stopping a lost cheque
Banks will also charge customers if they have to write to them about an infraction of bank rules, such as exceeding the overdraft limit or defaulting on loan repayments. This means that defaulting customers have to repay the debt as well as the additional charges.
Doing some research could save consumers a small fortune in bank charges. In addition for looking for incentives, consumers should look for banks that keep their charges as low as possible. With a bit of digging, it is easy to find banks with:
5. an automatic overdraft limit for which there is no charge6. free standing orders and direct debits7. free transfers between banks8. low unauthorised overdraft fees9. low charges for other bank transactions
Choosing a bank that fits this profile will help with overall financial health.

Internet has become a substantial part of our lives, therefore there is nothing surprising about the fact that almost every reputable financial institution offers internet banking services to its account holders. The more the assortment, the harder it is to make a right choice of an institution to bank with. Online banking study conducted by ComScore some time ago revealed that Wachovia online banking is one of the best internet banking platforms out there. Internet banking facility offered by the Wachovia bank (headquartered in Charlotte) landed in the top five financial institutions operating on the territory of the United States of America.
Most significant factors that affected the rankings were the facilities availed by the internet banking platform as well as the quality of provided tools, products and services. Wachovia Online Banking has numerous benefits, such as a completely user-friendly interface with a convenient layout. To log in a system an account holder just has to provide his/her username and password. If you have multiple accounts with Wachovia bank, then you will able to view and manage them in one place without logging in every time you need to switch. There is also a combined summary of all your checking, savings, credit cards and other accounts available though Wachovia Online Banking.
Such a combined summary gives you a precise image of your spending and earning making it a valuable tool in managing finances. A customer of Wachovia Online Banking can view details of transactions, payments, withdrawals, deposits, cleared checks with history kept for 90 days. Bank statements are also available online though the Wachovia Online Banking and can be downloaded to your PC. Images of cleared checks are also kept in the system and can be printed out any time you need checks’ details.
Wachovia online banking facilitates lives of its customers offering them an efficient Bill Payment service. You should just put the details of an upcoming payment and it will be proceeded automatically within couple minutes. To make sure that the payment is effected successfully, you can also track your bills online.
Online Brokerage services included into Wachovia Online Banking package allows you to launch an investment account. You can get research reports and stock quotes in real time to earn money on trading stocks. Funds held on your checking or savings account can be easily transferred to your investment account though the online route.
Most of the facilities provided by the Wachovia Online Banking platform are gratis, however some minor fees are required for specific services. Opening online banking account is easy and completely secure. Wachovia bank guarantees that in case unauthorized access to your funds occurs, the bank is liable for all the losses. Just inform operators within 2 months that you experience a problem.

Vacancies in banks open account into a secure and well paid career

Bank job is the gateway for a secure, respectable and one of the most challenging career as the whole economy rests on the banking sector. Post liberalisation when the jobs in public sector banks were limited, the establishment of private banks and other financial Institutions broadened the job opportunities for professionals. The diversification of services by like mutual funds, credit cards, consumer loans like home loans, vehicle loans, trading in gold & other securities and Forex activities brought in new openings for individuals. There were a lot of vacancies in Public sector as well as Private from the post of clerks to Probationary Officers (PO) as well as management level executives to junior officers. The computerisation of banking services also increased demands for IT professionals. Besides that finance professionals like CAs, Cost Accountants, Auditors, Business Consultants, CFAs, Insurance Consultants, FIs etc have a great scope too. In the Public Sector, the Reserve Bank of India (RBI) is at the apex level and makes all the policies and regulations for all the commercial banks in India. including RBI is filled through an All India examination conducted for Clerical grade; Grade A officers and Grade B officers. While the Grade A officers are recruited through UPSC, Grade B officers are inducted through a competitive exam conducted by the RBI itself. Entry in the Public sector Banks like State Bank of India and its subsidiaries, etc is also through objective and subjective tests conducted by these banks individually through the Banking Service Recruitment Boards (BSRBs).The objective test consists of verbal and non-verbal reasoning, quantitative aptitude, General Awareness and English Language. A candidate to be successful has to qualify both the sections. In the year 2010 vacancy in Bank of India were immense. The conducted tests for recruitment of 2467 Clerks & 2000 General Banking Officers (GBOs). There was also a special recruitment drive of GBOs for North East India in the same year. Vacancies in banks Private or Multinational banks recruit professionals from management institutes for management posts, trainee officers from campus placement drives or experienced personnel from the banking sector itself for the topmost positions. A candidate with good communication & interpersonal skills, the ability to deal with customers, computer knowledge and basic knowledge of the banking sector is preferred by the private banks. Some private banks also conduct examinations for filling up vacancies. The banking industry is growing at a fast pace and also changing rapidly. The introduction of computers has made the job convenient for the professionals. The remuneration offered is also decent in both the Public and Private sector banks and timely promotions make banking a lucrative career in India. Overall job vacancy in banks is immense and it is a great career for those who want to feel the economic pulse of the country.

India is foreseen as the next economic superpower after China and US. It has always been attracting major investments from companies abroad and has become the most lucrative market with high potential. Various multi-national companies have set up their business in major cities of India. More number of industries directly means more employment opportunities at various levels in various sectors and Banking is definitely one of them. India being the world’s fastest growing economy is seeing tremendous growth in its financial and banking sector. RBI or Reserve Bank of India is the central bank of India that controls functioning of banks across the country. The teeming job opportunities in this sector can fetch you a financially and socially sound career. Banking industry offers various job profiles in corporate banking, retail banking, investment banking and commercial banking. Service is the backbone of banking sector. This article discusses the types of jobs available in different types of banking services.Corporate BankingDefined as:Corporate or Wholesale Banking involves selling of banking products and services to government agencies, enterprises, corporate houses and other institutions. Services provided:Corporate banks offer comprehensive financial solution related to business accounts and investments. It extends assistance in financing, cash management and other banking services in a customized manner. Jobs available:Jobs in corporate banks for relationship managers and operation managers are open to individuals with excellent communication skills as they need to deal with clients directly.Retail BankingDefined as:Retail Banking involves mass market banking and is meant to serve the needs of individual customers not institutions. According to the definition given by Investopedia, ‘Retail banking aims to be the one-stop shop for as many financial services as possible on behalf of retail clients’. Services provided:Retail banks offer core banking services like savings accounts, insurance schemes, personal credit cards, mortgage to individual customers, etc as well as investment services such as wealth management, brokerage accounts, private banking and retirement planning. Jobs available:Jobs in retail banking include branch managers, ATM managers, bank tellers, loan managers and support staff. It requires candidates with good communication skills as well as front desk operations management.Investment BankingDefined as:Investment Banking aims at creation of capital for large holdings, entrepreneurs and organizations to help them achieve their financial goals. Services provided:These banks specialize in offering investment solutions and thus require expertise in finance and investment. They are involved in underwriting new debt and equity securities, facilitating mergers and acquisitions, guidance on issue and placement of stock and other such functions. Jobs available:Investment bank job profiles include those of Investment banker, Account manager, Commodity broker, corporate financer, manager, Investment analyst, Investment fund manager and Operational investment banker. Commercial BankingDefined as:Commercial Banks have wide customer base as they serve one and all i.e. both individuals and corporations. Services provided:They are large holdings that provide related to banking, lending, investment, credit cards and insurance. Since they offer comprehensive finance solutions, jobs in almost all categories are open in commercial banks. Jobs available:Profiles of financial managers, bill and account collectors, book keeping and auditing clerks, financial service representatives, loan officers, bank tellers, etc. are available in this kind of banking. Banking jobs in India have been growing manifold in spite of the global economic meltdown. Experts believe that jobs in banking are set to increase in next two years, they anticipate the need of almost 50, 000 more employees in this sector. Analytical skills, communication excellence, understanding client’s needs, operations management, etc. are some of the qualities required to begin a career in banking.

Forecasters are predicting the hottest temperatures so far this year over this Bank Holiday weekend but whatever the weather, the usual Bank Holiday getaway is expected to cause gridlock on the roads and bustling air and sea ports. Airport operator BAA said 1.68 million passengers would pass through its seven UK airports in the period from Friday to Bank Holiday Monday.
The AA has said that road journey times could increase by 50 per cent on Friday with a third more traffic than normal expected on popular routes. Congestion is expected on the M5 from the West Midlands to Exeter; the M6 from Lancaster to the Lake District; the M4, A40 and A48 to Wales and the A1 from Wetherby to Scotch Corner in north east England. Engineering works will also make train travel arduous.
The worst day on the railways is likely to be Sunday when there are 38 separate engineering work projects taking place. Train routes and companies affected include the West Coast Main Line, South West Trains, Arriva Trains Wales, First Capital Connect, Northern Rail and the Southern train company.
For those opting to to take a short break this weekend, its worth remembering that the same rules though apply to holidays in the UK as they do elsewhere. So do make sure you are properly covered in case of emergencies. Travel insurance, for example, is not always thought of as a necessity if you take a break in the UK, being so close to home and under the safety net of the NHS should you have an accident but travel insurance covers much more than medical emergencies. Most people buy travel insurance for trips and holidays abroad but these policies do generally provide cover for travel within the UK, though do check the small print rather than assuming that this is always the case.
So is travel insurance that covers holidays in the UK worth considering? It can be very useful to have insurance should you subsequently cancel a trip, say for illness, as your holiday costs will be reimbursed subject to any excesses to pay. Your personal effects will probably be covered too, which is an important point to consider as theft and loss is not just confined to holidays on the Costas – these things happen at home too. What you will almost certainly not be covered for will be for medical expenses as the NHS is available for such instances. One final word of advice though is do check the small print as many, if not most, insurers do require you to have proof of booked accommodation, or a campsite booking in the case of camping and caravanning, for a minimum stay of normally 2 nights away for the policy to be in force so the one night weekend trip away is definitely outside this definition.

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