The Hindu Business Line : Funds management

The word `cash' in CMS (cash management services) is a misnomer, writes M. N. Gopinath in Banking Principles & Operations (www.swpindia.com). Instead, the word `funds' could have been used, he suggests, since CMS aims at efficient management of funds, by customising the collection and payment services. One of the arrangements in CMS is that of correspondent banks, used by banks at places without own branches. "The correspondent arrangement was perfected by Citibank which introduced CMS in the country almost two decades ago," narrates the author. "Since Citibank had branches only in the metros they tied up first with Corporation Bank and later with several others for leveraging their branch network for providing CMS services to their corporate clients."

For a concise and comprehensive view.

HRD audit

What is HRD audit? It is a comprehensive evaluation of the current HRD (human resource development) systems and strategies, structure and competencies, culture, and impact in the context of the short- and long-term business plans of a company, defines T.V. Rao in HRD Score Card 2500: Based on HRD Audit (www.sagepublications.com).

The author rues that in many organisations HRD function is convenience-driven, rather than systems-driven. - More on the Web: www.businessline.in/webextras

He cites a study which found `a definite decline in the perceptions of the effectiveness with which the various HRD functions were being performed as perceived by the line managers.'

Useful reference.

D. MURALI

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