12th OCM Question Paper 2022 with Solution | Maharashtra Board (Download Free Pdf)

12th OCM Question Paper 2022 with Solution

12th OCM Question Paper 2022 with Solution
12th OCM Question Paper 2022 with Solution
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12th Commerce OCM Textbook Solutions

Chapter Name Solution Link
1) Principles of ManagementClick Here
2) Functions of ManagementClick Here
3) Entrepreneurship DevelopmentClick Here
4) Business ServicesClick Here
5) Emerging Modes of BusinessClick Here
6) Social Responsibilities of BusinessClick Here
7) Consumer ProtectionClick Here
8) MarketingClick Here

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Old Question Papers of 12th Commerce with solution (All Subjects)Click Here

Students Appearing for Maharashtra 12th Class Exam need to Get Familiar with the Exam Pattern and Question Paper design. They Should also know the Marking Scheme of the Upcoming Maharashtra 12th class Exam 2022, Students who are Searching for Maharashtra 12th Class Question Paper 2022 can Find the Complete list of Subject Wise Annual, Supplementary & Model Question Paper of the New Syllabus

12th OCM Question Paper 2022 with Solution

Q. 1. (A) Select the correct option and rewrite the sentences: (5) {20}

1) Member of organization should receive orders from_____.
a) many superiors
b) one superior
c) all superiors

2) The functions of management end with _____.
a) Directing
b) Staffing
c) Controlling

3) Startup India is an initiative of the _____.
a) RBI
b) Government of India
c) World Bank

4) Making timely payment of proper taxes is the responsibility of the organization towards _____.
a) shareholders
b) customers
c) government

5) In online shopping customers put the product in the _____.
a) shopping mall
b) shopping cart
c) shopping bag

(B) Match the pairs : (5)

Group ‘A’Group ‘B’
a) Agro tourism1) Tangible in nature
b) Business Services2) 1930
c) Scientific management theory3) Use of digital media
d) Sale of Goods Act.4) Rural tourism
e) Digital Marketing5) Henry Fayol
6) 1956
7) Intangible in nature
8) Use of traditional media
9) Medical tourism
10) F.W. Taylor

A-4 , B-7 ,C-10 ,D-2 ,E-3

(C) Correct the underlined word and rewrite the following sentences : (5)

1) Decentralization means concentration of powers and authorities at a specific position. (Centralization)
2) Overdraft facility is available for savings bank account holders. (current)
3) In India, sellers are widely dispersed and are not united. (buyers)                     
4) KPO includes less knowledge-based and specialized work. (more)
5) Insurance helps to maximize the risks in the business. (minimize)

(D) Arrange in proper order : (5)

1) Controlling, Organizing, Planning.
Answer: Planning, Organising, Controlling

2) Accident, Taking the policy, Claim.
Answer: Taking the policy, Accident, Claim

3) Placing an order, Cash on delivery, Registration
Answer: Registration, placing, and order, cash on delivery

4) District Judge, Supreme Court Judge, High Court Judge.
Answer: District Judge, High Court Judge, Supreme Court Judge.

5) Grading, Market Planning, Distribution.
Answer: Market Planning, grading, distribution

Q. 2. Explain the following terms/concepts: (Any Four)(12)

1) Organising
Answer: Organizing is the process of identifying, and bringing the required resources together such as men, money, material, machine, and method, grouping and arranging them properly for achieving the objectives. In planning, the management decides what is to be done in the future whereas the organizing function decides the ways and means to achieve what has been planned. This function is important for the execution of the plans which have been prepared by top-level management people.
The synchronization and combination of workforce, physical, financial, and information resources are established in the process of organizing.

2) Insurance
Answer: Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. Insurance is a contract between the insurer and the insured, whereby the insurer agrees to compensate the insured against loss. The insured has to pay a certain fixed sum of money on timely basis to the insurer.

3) E-business
Answer: The term ‘E-business’ i.e electronic business is derived from the terms e-mail and e-commerce.
E-business or electronic business is the administration of conducting business via the internet. This would include the buying and selling of goods or services, along with providing technical or customer support through the internet.

4) Place concept of market
Answer: The term market is commonly understood as the place where the transaction of buying and selling of goods and services takes place in exchange for money or money’s worth. It is the place where buyers, sellers, and other intermediaries come together and exchange goods or services.
In the olden days, place played an important role in defining market. But in the age of information technology, the term ‘market’ has a wider meaning than just a place.

5) Lok Adalat
Answer: Lok Adalat is an effective and economical system for quick redressal of public grievances. It can also be referred to as ‘People’s Court’.
It is established by the government to settle disputes by compromise. The aggrieved party can directly approach the Adalat with a grievance, issues are discussed on the spot, and decisions are taken immediately. Resolution of disputes by Lok Adalat gets statutory recognition. e.g. MSEDCL, MSRTC, Railway Authority, Insurance Companies, Banks, etc. organize regular Lok Adalat.

3) Outsourcing
Answer: Outsourcing is the process of contracting a business function or any specific business activity to specialized agencies mostly the non-core areas such as sanitation, security, household pantry, etc. are outsourced by the company. The company makes a formal agreement with the agency.
The company benefits in two ways.
i) It reduces its own cost
ii) It uses the expertise of the firm which specializes in a particular kind of service.

Q. 3. Study the following case/situation and express your opinion : (Any Two) (6)

1) In ABC Company, Mr. Patil gives instructions to the employees working under him, provides guidance, and motivates them for their best performance. On the other hand, Mr. Joshi takes an effort to harmonize the work done by the employees of different departments while achieving organizational goals. Mr.Dubal is looking after the arrangement of required resources for the business organization.
Mention the name of the employee engaged in the following functions:
(a) Organization
(b) Direction
(c) Coordination

a) Mr. Dubal is engaged in the organizing function because he is looking after the arrangement of required resources for the business organization.
b) Mr. Patil is engaged in the function of directing as he gives instructions to the employees working under him, provides guidance, and motivates them for their best performance.
c) Mr. Joshi is engaged in the function of coordination as he makes an effort to harmonize the work done by the employees of different departments while achieving organizational goals.

2) Mr.Rajaram is a young MSc (Agri) degree holder, and M.Sitaram is a commerce graduate. Mr.Rajaram is willing to start an Agrotourism center in his village. Mr. Sitaram is willing to work as an accountant in a private company.
a) Find out the desire of Mr. Sitaram.
2) What is the desire of Mr. Rajaram?
3) Which qualification is acquired by Mr. Sitaram?

1) Mr. Sitaram is willing to work as an accountant in a private company. Therefore he wants to work as an employee.
2) Mr.Rajaram is willing to start an Agrotourism center in his village. He wants to be an Entrepreneur.
3) Mr. Sitaram acquired a qualification of Graduation in commerce.

3) Ajay purchases some gift articles online from www.amazon.com. At the same time, Sanjay purchased gifts from olx.com. :
(a) Which website is related to C2C?
(b) Which website is related to B2C?
(c) What first step does Abhay need to follow?

a) Olx.com website is related to C2C.
b) www.amazon.com website is related to B2C.
c) Registration is the first step in online shopping. Therefore Abhay needs to do registration first.

Balbharti Textbook Solutions for other subjects
Solution of all Chapters of OCM

Q. 4. Distinguish between the following: (Any Three) (12)

1) Planning and Controlling

1) MeaningPlanning is deciding in advance what to do how to do it, when to do it and who is to do it.Controlling is the process of taking steps to bring actual results and desired results closer together.
2) ObjectiveTo set goals and choose the means to achieve these goals.To ensure that the objectives are achieved according to the plan.
3) Area of functionIt includes setting objectives by
identifying the ways of attaining the goal and selecting the best plan.
It includes setting up standards,
measurement, and comparison with actual performance and taking corrective steps whenever necessary.
4) FactorsInternal and external factors are
considered in the planning process.
Internal and external factors are
taken into account for taking
corrective action.
5) NatureIt is continuous in nature. It exists in the whole life of an orgazation.It is the process that starts once the actual plan is executed.
6) Level of ManagementTop management is concerned with planning the activities.Top and middle-level management are responsible
for controlling the activities.

2) Life insurance and Fire insurance.

PointsLife insuranceFire insurance
1) MeaningA contract whereby the insurance company undertakes to pay a certain sum of money either on death or maturity (whichever is earlier) for a consideration (premium)A contract in which insurer
promises to pay compensation
to insured if something happens
to the subject matter due to fire
or related events.
2) Policy taken byIt can be taken by an individual
for his own life or for his family
It can be taken by individuals for their properties or by businessmen. For their goods,
properties business liabilities.
3) Subject matterIn life insurance, the life of the
insured is a subject matter
In Fire insurance, the goods and
assets or property of the insured
is the subject matter.
4) Insurable InterestIt must exist at the time of contract.It must exist both at the time of contract and also at the time of
5) TenureThe policy can be issued for any number of years, even until the death of the assured.It is generally for a short period
like one year.
6) CompensationIt is paid either on death or
maturity whichever is earlier.
It is paid only if there is a loss due
to fire during the term of policy.

3) District Commission and National Commission.

PointsDistrict CommissionNational Commission
1) MeaningA consumer dispute redressal forum at the district level
established by the State Government is known as District
A consumer dispute redressal forum at the National level
established by the Central Government by notification is
known as National Commission.
2) PresidentA person who is sitting or retired
or qualified to be District Judge.
A person who is or has been a judge of the Supreme Court,
shall be appointed as the president National Commission.
3) MemberNot less than two and not more than such number of members as may be prescribed, in consultation with the Central GovernmentNot less than four and not more than such number of members as may be prescribed.
4) Membership TenureThe members can have the membership for a term of five
years or upto the age of sixty-five years, whichever is earlier.
The members can have the membership for a term of five
years or up to the age of sixty-seven years and president upto seventy years, whichever is earlier.
5) Area coveredIt covers particular districtIt covers the entire country.
6) Monetary JurisdictionTo entertain complaints where the
value of the goods or services paid as consideration does
not exceed Rs. one crore.
To entertain complaints where the
value of the goods or services paid as consideration exceeds
Rs. ten crores.
7) AppealAn appeal against the District Commission can be made to the
State Commission.
An appeal against the National Commission can be made to the Supreme Court.

4) Staffing and Directing

1) MeaningThe staffing function pertains to the recruitment, selection,
development, training and
compensation of subordinate
Directing is the guidance inspiration, the leadership of those men and women constitute
the real case responsibilities of
2) ObjectiveTo appoint right type of people at the right positions and the
right time.
To direct the subordinates to get things done in the right
3) Area of functionIt includes recruitment, selection,
training, development, and compensation of human resources.
It includes instructing, guiding,
inspiring, communicating and
motivating the human resources.
4) FactorsStaffing is mostly concerned with internal factors.Directing is concerned directly with internal factors i.e. human
5) OrderIt follows organizing function.It follows organizing and staffing for execution of planning.
6) ResourcesIt is the process relating to organization of human resources.It gives direction to the employees regarding use of
other resources.

Q. 5. Answer in brief : (Any Two) (8)

1) Explain 4p’s of product marketing mix.

Answer: Marketing mix is putting the right product, at the right time, at the right price in the right place.

Following are the 4p’s of the product marketing mix.

1) Product

Product refers to the goods or services that are offered to the customers for sale and are capable of satisfying the need of the customer. The product can be intangible or tangible, as it can be in the form of services or goods. The business needs to decide on the right type of product through extensive market research. The success of the business depends on the impact of the product in the minds of the customer.

2) Price

The price of the product is basically the amount that a customer pays for the product. Price plays an important role in creating demand for the product. The business needs to take utmost care to decide the price of the product. A too high price may affect the demand for the product and pricing too low may affect the profitability of the business.

3) Place

The place is also known as a distribution channel. Placement or distribution is a very important part of marketing. A businessman needs to make the product available to a potential customers at the right place. Business needs to distribute the product in a place that is accessible to potential buyers. It covers location, distribution, and ways of delivering the product to the customer. Better the chain of distribution higher the coverage of the product in the market.

4) Promotion

Promotion is an important element of marketing as it creates brand recognition and sales. Promotion is a tool of marketing communication that helps to publicize the product to the customer. It helps to convey product features to the potential buyer and induce them to buy it. The promotion mix includes tools such as advertising, direct marketing, sales promotion, personal selling, etc.

2) Explain any four responsibilities of business towards employees.

Answer: Employees are human resources to the organization. They must be treated with dignity and respect. The management and employees should develop mutual understanding and trust. The government has passed various labour laws to safeguard the interest of employees.
The business has the following responsibilities towards employees:

1) Job security

Security of the job provides mental peace and employees can work with full dedication and concentration. Commitment to the work will raise their morale and loyalty towards the organization.

2) Fair Remuneration

The business should pay attractive salaries to all their employees. Other incentives like bonuses, overtime allowance, etc. should be given to them. Remuneration should be fixed according to the nature of the work. Suitable wage plans providing increments and revision of wages are also essential.

3) Health and Safety Measures

Businesses should protect the health and hygiene of employees. Canteen facilities, medical facilities, and proper sanitation must be provided to the workers. Proper maintenance of machines and premises must be done to prevent accidents and to control pollution. Safety equipment like hand gloves, safety shoes, helmets, goggles, masks, etc. should be provided to concerned employees.

4) Good Working Condition

The employees should be provided with good working conditions such as adequate lighting, ventilation, drinking water, etc. Necessary steps should be taken to avoid air, water, and sound pollution. There should be proper working hours with lunch breaks and rest pauses etc.

5) Recognition of Trade Unions

It is the responsibility of business organizations to maintain industrial peace. Employers must recognize the workers’ right to join a trade union. Employers should not restrict employees from forming a trade union. ‘Divide and Rule’ policy should not be followed. Management should sort out various problems of workers by holding talks or negotiations with such unions. Management and union should agree to ban strikes and lockouts to protect the interests of both parties.

3) Explain any four rights of consumers.

Answer: Every consumer should be aware of his rights and use them in his daily life for protection. Consumers have to fight for their rights and put pressure on businesses, manufacturers, and traders for safeguarding their rights.

Following are the rights of consumers:

1) Right to Safety

This right protects consumers against products, production processes, and services that are hazardous to health or life. According to this right, the consumer must get full safety and protection to his life and health. This safety should be in relation to medicines, electrical appliances, food, etc. The GOI has given safety standards in the form of AGMARK, lSI, BIS, Hallmark, etc.

2) Right to Information

According to this right, consumers should be provided with adequate information about all aspects of goods and services like price, name of the manufacturer, contents used, batch number if any, date of manufacture and expiry date, user manual, safety instruction, etc. This right also enables consumers to select the right product or service. It is applicable to food products, medicines, spare parts or any other consumer products or services.

3) Right to Choose

According to this right, consumers should be given full freedom to select an article as per their requirement, liking, and purchasing capacity. The right to choose is related to the concept of a free-market economy. As per this right, the seller cannot compel consumers to buy a particular product and hence monopoly is prevented.

4) Right to be heard

Every business organization should listen to and solve the complaints of consumers. According to this right, consumers have the opportunity to voice their complaints to the consumer forum. Consumers also give suggestions to manufacturers or traders on certain matters such as quality, quantity, price, packaging, etc. Nowadays, consumers can file online complaints through portals or mobile applications.

Q. 6. Justify the following statement : (Any Two) (8)

1) Principles of management are flexible in nature.

a) Principle is defined as a fundamental truth or proposition that serves as the foundation for a system of belief or behaviour or for a chain of reasoning.
b) Management principles are flexible in nature. It means they can be changed or modified according to the situation.
c) Managers can be flexible while implementing principles to suit the requirement.
d) The business situations keep on changing. Management principles can be adjusted or modified and can be used in the organization according to its need.
e) Thus it is rightly justified that, Principles of management are flexible in nature.

2) There are many ways and means to consumer protection.

Answer: The prevailing judiciary system is not sufficient enough to protect consumers, therefore, there are various ways and means of consumer protection. They are as follows.

1) Lok Adalat:
Lok Adalat is an effective and economical system for quick redressal of public grievances. It can also be referred to as ‘People’s Court’. It is established by the government to settle disputes by compromise.

2) Public Interest Litigation (Janahit Yachika)
Public Interest Litigation means a legal action initiated in a court of law regarding a matter of general public interest. It is a legal facility under which any person can approach to a court of law in the interest of society. Its aim is to provide legal remedies to unrepresented groups of society.

3) Redressal Forums:
Under the Consumer Protection Act, 2019, a system has been set up to deal with consumer grievances and disputes at the district, state, and national levels. Any individual consumer or association of consumers can file a complaint with a respective commission depending on the value of goods and claim for compensation.

4) Awareness Programme:
To increase the level of awareness among the consumers the Government of India has initiated various publicity measures. State and Central Government regularly publishes journals, brochures, booklets, and various posters depicting the rights and responsibilities of consumers, redressal machinery, etc.

3) Principle of subrogation is applicable to all contracts of indemnity.

a) As per the principle of subrogation, after the insured is compensated for the loss due to damage of the property insured, then the right of ownership of the such property passes on to the insurer.
b) This principle is applicable only when the damaged property has any value after the event causing the damage.

c) For example, Mr. A owns a two-wheeler. The vehicle was stolen and subsequently, Mr.A filed a complaint in the local police station. Upon receiving report from police,. the insurance company compensated fully Mr.A for the loss of the vehicle. Later on, the stolen vehicle was recovered by police.
d) In this situation, the owner of the vehicle does not have any claim over the vehicle as he has already subrogated i.e. transferred the ownership rights of the vehicle to the insurer. The insurer gets every right to sell or scrap the said vehicle.
e) Hence, we can say the Principle of subrogation is applicable to all contracts of indemnity.

4) Marketing is significant to consumers.

a) Marketing creates awareness among the consumers about different brands and features of the product available in the market.
b) Consumers can compare product features, price, availability, and other essentials because of marketing.
c) Marketing helps the consumer to choose the best products and services from the different options available.
d) Marketing helps to maintain the balance between demand and supply. It results in stable prices.
e) Marketing leads to consumer satisfaction through honest advertising, assurance of quality products, and availability of innovative products.
f) Hence, Marketing is significant to consumers.

Q. 7. Attempt the following : (Any Two) (10)

1) Explain any five principles of management given by Henry Fayol.

Answer: Following are the five principles of management given by Henry Fayol.

1) Principle of Division of Work

According to this principle, the work is divided into different kinds such as technical, financial, commercial, security operations, accounting, and managerial. It is assigned to employees as per their qualities and capabilities. It helps in improving the efficiency and expertise of employees which ultimately turns into the expected productivity level.

2) Principle of Authority and Responsibility

Authority is the right to take decisions. It is necessary to get things done appropriately by subordinates. Authority always comes with responsibility. If the manager is given the authority to complete a task within a given time, he should be held responsible if he does not complete the work within the given time. The manager should have the proper authority to take managerial decisions on his own with respect to the goal.

3) Principle of Discipline

According to Fayol, discipline is the most essential thing in the organization. Employees must obey and respect the rules that govern the organization. Discipline helps to achieve the goals of the organization. Good discipline is the result of effective leadership. There must be a clear understanding between the management and workers regarding the organization’s rules. Basic discipline should be observed at all levels of management.

4) Principle of Unity of Direction

This principle states that ‘there should be one head and one plan’ in every organization. Each group in the organization should have the same objective and the group should be directed by one manager using a single plan.

5) Principle of Order

This principle is based on ‘A place for everything and everything in its place. Human resources and materials should be in the right place at the right time for maximum efficiency. Human resources should be placed in right place and on right job. The principle focuses on the proper utilization of physical and human resources.

2) Explain any five social responsibilities of a business organization towards the government.

Answer: Following are the five social responsibilities of a business organization towards the government.

1) Timely Payment of Taxes

The government imposes various types of taxes like sales tax, income tax, wealth tax, etc. Business units should pay these taxes from time to time. It would be difficult for the government to undertake development projects without availability of funds.

2) Observing rules and regulations

The rules framed by the government for business should be fully complied with. The business should follow the laws regarding obtaining a license for a specified business, the operation of the business, price determination and production, etc. They should conduct business in a lawful manner.

3) Earning Foreign Exchange

The government also expects from business organizations that it will earn foreign exchange by exporting goods. The government requires this foreign exchange for importing various goods. valuable and important products.

4) Economic Development

The government sets the targets for balanced and rapid economic development of the country. The business organization should provide necessary cooperation to the government.

5) Implementing Socio-Economic Policies

The government expects cooperation and help from the business sector in implementing socio-economic programmes and policies.

3) Explain the types of warehouses.

Answer: A warehouse is defined as “an establishment for the storage or accumulation of goods.
Following are the functions of warehouses:

1) Private Warehouses

The private warehouses are owned and operated by big manufacturers and merchants to fulfill their own storage needs. Big business firms which need large storage capacity on a regular basis and who can afford money, to construct and maintain their private warehouses.

2) Public Warehouses

A public warehouse is a specialized business establishment that provides storage facilities to the general public for a certain charge. It may be owned and operated by an individual or a cooperative society. It works under a license from the government in accordance with the prescribed rules and regulations. Public warehouses are generally located near the junctions of railways, highways, and waterways.

3) Duty-paid Warehouses

If an importer faces any problem in the transportation of goods, after making payment of duty, then goods can be stored at a duty-paid warehouse. All duty-paid warehouses are public warehouses that are available to all importers. Such warehouses are more useful for re-export of the goods. These are located near the port & dock area.

4) Government Warehouses

These warehouses are owned, managed, and controlled by central and state governments or public authorities. It is difficult for small farmers, businessmen, traders to own a warehouse, so these government warehouses assist them in storing their goods at a nominal charge. Central Warehousing Corporation of India (CWC), State Warehousing Corporation (SWC), and Food Corporation of India (FCI) are having warehouses across different states and countries.

5) Cold storage Warehouses

Cold storage warehouses provide facilities for perishable commodities like fruits, flowers, vegetables, dairy products, etc. In cold storage warehouses, goods are stored and refrigerated at very low temperatures so as to preserve them and use them in the future. International trade has become possible due to these warehouses.

Q. 8. Answer the following questions : (Any One) (8)

1) Define bank. Explain different types of banks.

Answer: A bank is a financial institution that deals with deposits and advances and other related services. Bank provides various services related to money or financial requirements of consumers.

As per The Indian Banking Regulation Act, 1949 banking company means “any company which transacts the business of banking in India” and the word banking has been defined as “accepting for the purpose of lending or investment of deposits of money from public, repayable on demand or otherwise, and withdrawable by cheque, draft, and order or otherwise. “

Following are the Types of Banks:

1) Central Bank:
The central bank is the apex financial institution in the banking industry in the country. Every country has its own central bank. In India, The Reserve Bank of India (RBI) is the central bank. The RBI was established in 1945 under the Reserve Bank of India Act, 1944.

Some functions of RBI are as follows:
i) Frames monetary policy
ii) Issues currency notes
iii) Acts as a banker to the Government
iv) Acts as a banker’s bank to commercial and other banks in India.

2) Commercial Bank:
Commercial banks play an important role in the economic and social development of a country. Commercial banks perform important functions such as:
Primary Functions i.e. accepting of deposits and lending of money and Secondary Functions i.e. agency functions and utility functions.

In India, commercial banks are divided into three groups:
a) Public sector banks.
b) Private sector banks.
c) Foreign banks.

3) Co-operative Bank:
In India, co-operative banks are registered under Indian Co-operatives Societies Act and regulated under Banking Regulation Act. Co-operative banks are popular in semi-urban and rural areas. The main aim of a cooperative bank is to provide credit to economically backward people, farmers, and small-scale units.

Generally, the co-operative bank works at three different levels:
a) Primary Credit Societies
b) District Central Co-operative Bank
c) State Co-operative Bank

4) Industrial Development Banks:
These are financial institutions that provide medium and long-term funds to business firms Examples of development banks are Industrial Finance Corporation of India (IFCI), State Finance Corporation (SFC), Maharashtra State Finance Corporation(MSFC), etc.

5) Exchange Banks:
The exchange banks as well as large commercial banks facilitate foreign exchange transactions. Examples of exchange banks are Barclays Bank, Bank of Tokyo, etc.

Some functions of an exchange bank are as follows:
i) Financing foreign trade transactions.
ii) Issue of letter of credit (LC)
iii) Discounting of bills of exchange.
iv) Remittances of dividends, interests, profits, etc.

6) Regional Rural Bank:
Regional Rural Banks (RRBs) were established in 1975. These banks are sponsored by large public sector banks. The capital of RRB is contributed by Central Government 50%, State Government 15%, and Sponsored Banks 35%. RRBs mobilize deposits primarily from rural and semi-urban areas and provide loans and advances mostly to small and marginal farmers, agricultural laborers, and rural artisans.

7) Savings Bank:
The main objective of savings bank is to encourage savings of the people, especially in rural areas. Examples of such banks include postal saving bank, commercial banks, and cooperatives banks.

8) Investment Bank:
These banks provide financial and advisory assistance to their customers. Their clients generally include business firms and government organizations. Investment banks facilitate mergers and acquisitions by undertaking research and providing advice on investment decisions. Generally, investment banks do not directly deal with general public.

9) Specialised Banks:
These banks cater to the requirements and provide overall support for setting up business in specific areas.
i) Export and Import Bank (EXIM):
This bank provides financial assistance to exporters and importers and functions as the principal financial institution for coordinating the working of institutions engaged in financing export and import of goods and services with a view to promoting the country’s international trade.

2) Explain the functions of marketing in detail.

Answer: The success of a business is difficult without effective marketing. Marketing deals with the exchange of goods and services to satisfy the needs of consumers. Marketing functions help to study the needs of the consumers and facilitate to satisfy them.
Following are some of the important functions of marketing :

1) Marketing Research:
Effective marketing is possible when a business takes initiative to identify the needs and wants of the consumers in the market. To identify the needs of the consumers, there is a need to collect information from the consumers and analyze the same is known as Market Research. It helps to find out what do consumers want to buy, when do consumers buy, in what quantity they want to buy, and at what price.

2) Buying and Assembling:
It involves collecting raw materials from different sources at one place for production. This function is important as the quality and price of raw materials determine the cost and quality of the final product.

3) Market Planning:
After assessing the need of marketing, the business needs to chalk out the marketing plan and strategies to achieve the desired objective. Market planning is the process of organizing and defining the marketing objectives of the business and creating strategies to achieve them. It is the comprehensive blueprint that will help to draw an outline business’s overall marketing efforts.

4) Product Development:
Product development and design play an important role in the selling of the product. There is a need to develop a product that suits the needs of the consumer. Product design includes decisions related to quality, standards, shape, design, packing, colour, etc. of the product. The consumer always prefers better and attractively designed products. Good design of the product gives a competitive advantage to the business.

5) Standardisation and Grading:
Standardization means determining standards related to the process, size, quality, design, weight, colour, etc. of the product. It helps in ensuring uniformity in the quality of the product. It helps in achieving customers’ loyalty towards the product. Grading is the process of classification of products according to similar characteristics and/or quality. Grading is done on the basis of their features like size, shape quality, etc. Generally grading is done in the case of agricultural products like wheat, rice, potatoes, etc.

6) Packaging and Labelling:
Package and Label create the first impression on the consumer about the product. Attractive packages and labels can help to make the product successful. Packaging means designing the package for the product. It helps to avoid breakage, damage, and destruction of the product. Packing material includes bottles, containers, plastic bags, tin, wooden boxes, jute bags, bubble bags, packing foam, etc.
A label is a slip that is found on the product and provides all the information regarding the product and its producer. The slip-on in which all this information is provided is called a label and its process is called labeling.

7) Branding:
Every businessman wants to have a special identity in the market for his product. Branding is the process of giving a special identity to a product through a unique brand name to differentiate it from competitors’ products. In simple words giving a distinct name to one’s product is called branding. Registered brands are known as Trademarks. Trademarks can not be copied. Branding helps to get recognition among the consumers. It can help to get new business and increase brand awareness in the market.

8) Customer Support Service:
The customer is the king of the market hence business needs to take the necessary steps for the satisfaction of the customer. Business needs to take every possible effort to provide support services to the customer. Timely support services help to gain customers’ loyalty. The business can provide the support services like Pre-sales service, consumer helpline, after-sales service, technical assistance, product demo, etc. to the customers. These services help in getting, retaining, and growing the customers.

9) Pricing of Product:
Pricing is one of the most important as well as challenging functions of marketing. Many times price of the product decides the success or failure of the product. Pricing plays an important role in the market where there is cutthroat competition. While determining the price of the product businessman needs to consider factors like cost, desired profit, price of the competitor’s product, demand for the product, market condition, etc.

10) Promotional Channels:
Promotion is the process of informing the consumers about the products, their features, uses, prices, etc, and encouraging them to buy these products. Advertising, Personal selling, Publicity, and Sales Promotion are some of the important tools of promotion. Business uses a combination of all or some of these four methods for promotion as per the need of the business. Promotional activities help to increase brand awareness in the market.

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