Banking and Finance: Theory, Law and Practice By CLIFFORD GOMEZ. PHI LEARNING PRIVATE LIMITED, NEW DELHI, 2011. ISBN: 978-81-203-4237-8. 344PP

Abstract

Over the last five decades banking has changed tremendously both in theory and practice. The technological advancements and the gradual but consistent paradigm shift from the traditional collateral driven lending policy to purpose oriented lending are some of the remarkable developments which call for new knowledge and practice. Moreover, the increasing demand for financial inclusion to cater for expanding economic activities in the rural areas and the mounting middle-class quest for efficient financial services in the urban areas continue to overwhelm the already overstretched financial sector. The writer discusses these challenges and emerging banking opportunities in the wake of technological advancement in the banking sector. The author uses clear and concise approach to allow readers grasp the banking concepts with little difficulties. One of the interesting features of the book is the inclusion of a dispute settlement structure between bankers and customers in the Indian banking system. Moreover, the inclusion of co-operative banking and microfinance themes seem to increase the value of the book. Even though the book is meant for B. Com syllabus for Indian university students, the materials are still relevant to undergraduate students in other developing countries, Tanzania inclusive. One of the major weaknesses of the book is a disproportionate inclination of banking and financial services topics with little discussions on other finance areas. Yet, the book is still resourceful for lecturers, students and professionals majoring in financial institutions at undergraduate and postgraduate levels. It is also useful to consultants in the financial service sector.