A joint venture is an association of two or more persons or parties, having mutual advantage in specific operations and is undertaken to make the operation highly remunerative with their collective efforts.
Joint Venture Banks are financial intermediaries, financing deficit units with money deposited with them by surplus units. The financial system or the banking industry in precise is a complex network embracing payments mechanism and the borrowing and lending of funds. Though they have other important functions, the key role played by these banks in the system is to act as financial intermediaries channelling funds from those with excess income to those wishing to borrow.(Wright & Valentine, 1997:29)
A Joint Venture Bank is the joining of forces between two or more enterprises for the purpose of carrying out specific operation (industrial or commercial investment), production or trade.(Gupta, 1984:15)
No comments:
Post a Comment