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Icsi-Banking and Insurance

This document provides an overview of the contents to be covered in Paper 6 on Banking and Insurance – Law and Practice. It discusses 20 topics that will provide an understanding of the role and working of banking, insurance, and risk management. The paper is divided into two parts - Part A focuses on banking law and practice, covering topics like the history of banking, the relationship between banks and customers, banking instruments, asset and liability management, lending policies, and banking reforms in India. Part B focuses on insurance law and practice, covering topics like the definition and principles of risk and insurance, different types of insurance policies, the structure of insurance companies, and risk management.

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338 views2 pages

Icsi-Banking and Insurance

This document provides an overview of the contents to be covered in Paper 6 on Banking and Insurance – Law and Practice. It discusses 20 topics that will provide an understanding of the role and working of banking, insurance, and risk management. The paper is divided into two parts - Part A focuses on banking law and practice, covering topics like the history of banking, the relationship between banks and customers, banking instruments, asset and liability management, lending policies, and banking reforms in India. Part B focuses on insurance law and practice, covering topics like the definition and principles of risk and insurance, different types of insurance policies, the structure of insurance companies, and risk management.

Uploaded by

api-3772774
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© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
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PAPER 6 : BANKING AND INSURANCE –LAW AND PRACTICE

Level of knowledge : Working knowledge.


Objective : To provide good understanding of the role and working of banking,
insurance and risk management.
Detailed contents :

PART A : BANKING – LAW AND PRACTICE (50 MARKS)


1. Introduction to banking - historical perspective; emergence and importance of
commercial banking; an overview of development in banking since independence.
2. Relationship between banker and customer - legal framework – corporate banking,
loan documentation.
3. Law and procedure governing banking instruments - cheque, bill of exchange, letter
of credit, etc.
4. Management of assets - liabilities in commercial bank.
5. Lending policies - risk and profitability planning.
6. Development banking - development banking as distinguished from commercial
banking; growth of development banking; role of development banks in economic
development.
7. Reserve Bank of India and its control on commercial banks; impact of RBI’s
policies on operations of commercial banks; NABARD, NHB.
8. Law relating to Banking Regulation; bankers’ book evidence; recovery of debts due
to banks and financial institutions.
9. Banking sector reforms in India - an overview; cooperative banks; nationalised banks;
private sector banks; international banking – foreign banks, off-shore banking; recent
developments in banking sector.

PART B : INSURANCE - LAW AND PRACTICE (50 MARKS)


10. Definition of risk and uncertainty; classification of risk; sources of risk - external and
internal.
11. Insurance - meaning, nature and significance; essential requirements and principles
of risk insurance; re-insurance; nationalisation of insurance business in India; Insurance
Regulatory Development Authority Act.
12. Life insurance - law relating to Life Insurance; general principles of life insurance
contract; proposals and policy; assignment and nomination; title and claims; concept of
trusts in life policy; Life Insurance Corporation - role and functions.
13. General insurance – law relating to general insurance; different types of general
insurance; general insurance and life insurance; nature of fire insurance; various types
of fire policy; subrogation; double insurance; contribution; proximate cause; claims and
recovery.
14. Accident and motor insurance - nature, disclosure, terms and conditions; claims
and recovery; third party insurance; compulsory motor vehicle insurance; accident
insurance.
15. Deposit and credit insurance - nature, terms and conditions, claim, recovery, etc;
public liability insurance; emergency risk insurance.
16. Structure, power and function of General Insurance Corporation of India; Deposit
Insurance and Credit Guarantee Corporation; Claims Tribunal.
17. Marine insurance – law relating to marine insurance; scope and nature; types of
policy; insurable interest; disclosure and representation; insured perils; proximity cause;
voyage; warranties; measurement of subrogation; contribution; under insurance.
18. Risk management - nature, risk analysis, planning, control and transfer of risk;
administration of company’s properties and provision of adequate security arrangements.
19. Insurance surveyorship – appointment, legal provisions and licensing, functions.
20. Company Secretary vis-a-vis insurance and risk management; recent developments in
the insurance sector.

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