Universal banking allows the banks to do all the kind of banking activities according to the rules and regulations of the RBI and other legal acts of the government. It includes the deposits, withdrawals, granting of loans, credit cards, project financing, payment systems, foreign exchange operation, remittances, project counseling, insurance, merchant banking etc. the main aim of universal banking is to bring equality in banking system, to give world class services related to the finance with the help of information and technology of the modern society, competing with international banks by exploring the business beyond the countries’ boundaries. The concept of universal banking was recommended by R H Khan Committee. Reserve Bank of India issued guidelines on universal banking in April 2001.

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The human resource tools act as very good technique that can reduce the cost that incurred in the process of the hiring and management of the staff. The small businesses can at times afford the overhead of the dedicated human resource department. The human resources and the academic personal data warehouse acts as an very exciting human resource tools as this tool makes the valuable information of the personal payroll systems easily accessible with help of powerful web interface. There are also a number of the online human resource tools that can help the busy business manager cope with the demands of the human resource departments. The absence of the admin function from the department acts as a saver of the cost but in any of the circumstances it does not mean that the small businesses may fail in their planning of the respective human resource requirement and so can create ill will among the staff with the help of the haphazard treatment of the human resource functions like the pay and sick leave. The incompetent human resource management can result to the limited production and the uncooperative staff.

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Financial management is the term used for efficient management of the funds in order to meet the aims of an organization. It is the special function which is directly related to the top management. The importance of this term is observed in capacity of staff in overall organization. This term is explained differently by the different financial management experts in this field. The term basically deals with the financial strategy of a particular organization while personal financial life management deals with the management strategy of an individual. It consists of steps how to increase the capital and how to budget a capital. It deals not only with budgeting that is long term but it also deals with short term budgeting like that of current liabilities. It is connected with dividend policies of the share holder. Planning is the part of financial management. Funds flow is moved according to some plan according to the financial management and also it deals with planning, controlling and procuring of financial resources of any firm. Financial management is operational activity that is held responsible for getting and using the fund flow effectively that are necessary for effective operational work in any organization.

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The connection between the degree of banking stability and the evolution of inflation is very important to be understood in order to evaluate the relation between banking stability and real output growth. We can adopt the VAR method for the sample of 18 OECD countries to find out the balance between both factors. The results can be proved effective if they are driven in instable period instead of stable periods. It is also observed through various surveys that unstable banking increases the imbalance in output growth of future. Hence it can be concluded that there is no clear connection between banking stability and the real output growth. However this connection can be used to increase real output growth. By the help of Fed forecast errors, banking stability as well as instability put impact on GDP growth in few quarters. In the last period the private sector has taken a large share in complete foreign currency international debt.

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Advice in general terms can be defined as the views at personal level of what one should do in which way and when to do depending on the various types of circumstances prevalent at that particular moment. So to be exact it is a specific process of the action depending on the type of the situation with the motive to initiate the behavioural change depending on the view of the receiver. This whole process involves the involvement of the personal views of the advisor that is very much likely to be subjective in the nature. It is not at all objective neutral type of the information and also not factual in the property. The moment of the advice is mainly downwards that is in the horizontal direction as when ever there is a specific flow of the advice to the various subordinates from the boss and it is called as the downward advice. When ever the expert in the very specific field helps the management of the company in the function discharging in a very better view, then the advice is said to be flowing in the horizontal direction. There are times when an individual at the personal level and also at the work station is not able to understand or take certain decision required due to the lack of the proper guidance or the no how of the certain process or the product.

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