Mr. Naidu was a young officer in a nationalized bank in Chennai. He was approached by Mr. Datta, owner of a small textile plant, for a loan to renovate his plant. Naidu gave him a loan of Rs.5,00,000. The bank’s branch manager, who saw no future in textiles, was shocked at the loan transaction. He told Naidu to stay close to Datta until the money was paid back. Naidu stuck so close that he became Datta’s financial adviser. The loan was repaid but Naidu became Datta’s partner and resigned his bank job. Within six years, Naidu set up another textile plant and after two decades his textile unit became the second fastest growing textile company in the country. Naidu’s management style was characterized by an emphasis on innovation and tight control. To his employees, Naidu was a friendly and highly visible boss. He always worked around the plant and called vast number of workers by their first names. He preferred of lead by example rather than telling people how to do their jobs. However, Naidu committed a big mistake of not grooming successor. Therefore, there was a vacuum at the top when he had a severe heart attack and died. Questions. 1. What were the qualities of Naidu as a manager? 2. Do you think Naidu was a successful manager? 3. On which roles of a manager, Naidu laid maximum emphasis?
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Explanation:
Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) are the fastest possible money transfer system through banks using the internet facility provided by banks. In RTGS system, the transactions are setteled immediately as soon as they are processed on one to one basis without bunching or netting with any other transaction, i.e., no waiting period. However, the minimum transaction value for RTGS is ₹ 2 lakh.
On the other hand, in NEFT takes place in batches at regular time intervals, not immediately.
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