Topics

FINANCIAL INCLUSION

The objective of Financial Inclusion(FI)  is to extend financial services to the large hitherto (till now)unserved population of the country to unlock its growth potential. In addition, it strives to achieve more inclusive growth by making financing available to the poor in particular.FI enables Banks to channelize the savings of the unserved population of the country  and offers new business avenues for lending to this group. Prior to the recent sustained efforts on FI, the banks were barely(hardly) scrapping the potential  business ,both on the deposit and lending side.Rural incomes have grown rapidly in a short time span due to high priority accorded by the Govt. to rural development and employment programs. Banks have a key role in converting into business opportunities, the untapped large no. of small deposits in rural areas and facilitate achievement of the aspirations of the bulk of ourpopulation in these areas.The increase in rural income will open up various types of lending. Not only will the demand forbusiness/commercial, education, home and personal loans increase substantially, various types ofservices such as remittance facilities will need to be provided by the banks through modernpayment system to a very large number of people who have hardly interfaced with a modern financial system. The process is expected to enable manifold(numerous or varied) growth in the banks’ business. Thus, FI is a win –win situation for both the hitherto uncovered people and the banks.Business Correspondents are retail agents engaged by banks for providing banking services atlocations other than a bank branch/ATM and to ensure a closer relationship between poorPolicy for Branch ExpansionUltra Small Branches (USB)To minimize the  cost of FI initiative, ensure universal accessibility to a range of bankingservices and  instill confidence amongst bank customers, Ultra Small Branches(USBs) are  set upat all places where opening of a brick and mortar branch is presently not viable. USBscomprise an area of 100-200 sq. feet where a bank-designated officer will be available with alaptop at a predetermined day and time of the week. The BCA also operates from such premises. The BCA provides cash dispensation services and the bank officer offers other bank services, undertakes field verification and follows up on banking transactions.Banking presence ensured in all unbanked Blocks by March, 2012There were 81 unbanked Blocks in the country, as on 31.03.2011.With the persistent efforts of the Government, banking facilities have been provided in all theunbanked Blocks by March, 2012, either through Brick and Mortar Branches or BusinessCorrespondents Model or Mobile Banking. As a next step, Banks have been advised to cover all those blocks which have so far been covered by mobile banking only, with BCA and USBs.Financial Inclusion Financial InclusionBusiness Correspondent AgentLaunch of Ultra Small Branches(USB) by the Bank of Barodapeople and the organized financialsystem. RBI has permitted various individuals/entities that the banks may engage as                      

Business Correspondents. Business Correspondent Agents (BCAs) are the individuals appointed by the Business Correspondents at the point of customer interface orretail outlet of a bank.The first step in FI is the interface between a bank customer and a bank. In India, conventionally this interface has been through a normal brick and mortar bank branch. Since banking is essentially a commercial business there are limits to which such bank branches can be spreadout in different areas to cover the entire population. It is only in the recent past that with the use of communications technology that a bank branch has been able to spread out geographically.Scheduled Commercial Banks(SCBs) had 97,473 branches in the country as on 30th June, 2012.Out of these 63.12% are located in rural and semi urban areas. To increase the outreach of banking services and to promote the FI efforts of banks, detailed guidelines have been issued by the Government whose salient points arelSetting up more brick and mortar branches with the objective to have a bankbranch within a radial distance of 5 km.To open bank branches in all habitations of 5,000 or more  population in under bankeddistricts, and 10,000 or more population in other districts RBI  has  provided for a BranchAuthorization Policy under which SCBs  are permitted to open branches in rural, semi urban andurban areas, in North Eastern States & Sikkim and in Tier 2 to Tier 6 centres (population upto99,999) in rest of the country, without having to take permission, subject to reporting.In their Annual Branch Expansion Plan (ABEP), SCBs are required to allocate at least 25% of the total number of branches proposed to be opened during the year in unbanked Tier 5 and Tier  centres (population upto 9,999) which do not have a brick and mortar structure of any SCB forcustomer based banking transactions.To incentivize banks to establish additional branches in Tier II centers, obtaining the priorapproval of the RBI is no longer a requirement in the case of commercial banks looking atopening branches in such  centers. The RBI has also incentivized banks by authorizingthem to set up additional branches in Tier I centers for every branch they open in Tier IIcenters.Opening of one bank account per familyOpening of a Bank Account is one of the key requirements in FI. The country has made appreciable progress on this parameter during 2001-2011 as per Census data on  Households (HHs) Availing Banking Services.To inculcate saving habits and to extend banking facilities to the migrant labour and street vendors/ hawkers in urban areas, a drive has been launched to open their bank accounts. Oriental Bank of Commerce (OBC), Convenor  State Level Bankers Committee (SLBC ) of  Delhi launched this drive. The  bank (i) started 24x7 Call Centre with toll-free telephone number,telephone number for SMS and has created e-mail ID for e-mail queries, (ii) imparted training tothe Call Centre Staff, (iii) provided wide-publicity of the campaign , (iv) identified the target pocket  and (v) undertook regular monitoring of the accounts opened. The drive has startedgiving results with nearly 42,000 accounts opened. All PSBs have now been advised to initiatesimilar drives in the State(s)/UTs where their Bank is SLBC Convenor.RBI has advised all Scheduled Commercial Banks/Regional Rural Banks/all Cooperative Banks to offer a ‘Basic Savings Bank Deposit Account’ which will offer  minimum common facilities

to all their customers such as  ATM card or ATM-cum-Debit Card, no  requirement of any minimum balance  and no charge  for nonoperation/activation of in-operative account.Prime Minister, in his Independence day speech of 2012, has announced that “it will be ourendeavour to ensure that all households benefit from bank accounts in the next 2 years.” Ithas been decided to take up this task on a campaign basis.Accordingly, banks have geared up their branches and it is expected that most of the families shall have a bank account by the end of this year.To ease the opening of bank account by the migratory labour, street hawkers, and other poorersections of the society, “Simplified Account Opening Form” has been designed .Banks  have been requested  to  put in place a  system to enable the customer to fill the account opening form on an ‘online’ mode. This Form contains sections for Small Account, Accounts with Introduction and Basic Saving Bank Deposit Account.Indian banks offer a savings bank account to all its individual customers. RBI’s 2005 initiativeto introduce no frill accounts where no introductory deposit or very low minimum balanceswere to be maintained proved very effective as the banking system has opened 103 millionno frill accounts as on March 2012… An unsung hero of our bank accounts group is the“Small Account” created under Prevention of Money Laundering Rules, 2005 for those having no KYC documents. This account can be opened by simply submitting own photograph anddeclaring the residential address and stating before a bank officer in a CBS branch that one doesnot have any proof of identity or residence and  promising to submit KYC document with 12months. Small accounts has no introductory balance, maximum balance allowed is Rs 50,000,maximum credit of Rs 1,00,000 per year and maximum withdrawals of all types are Rs10,000 per month, with foreign inward remittances not allowed. What better account can be offered to crores of migrant workers within the country! …Basic bank accounts remain only a first step in the long march to FI- though a verycritical first step. The challenges of access, usage and quality are ongoing concerns.Covering our population with meaningful bank accounts is likely to remain  work inprogress for a long time to come and shall require well knit efforts on the part of Indianbanks under the close support and guidance of the Government and RBI.Development of Geographical Information system (GIS)Geographical Information System (GIS) can be effectively used to assist the decision makers in planning for expansion of infrastructure of the Banks by highlighting the pockets of the hinterland which are yet to have access to these facilities. A web based application to develop a GIS for the banking network in the country has been launched by the DFS.The project envisages capturing existing information about bank branches, ATMs, Business Correspondents, Clearing houses and Currency chests of Scheduled Commercial Banks at village level. This facility enables the Banks to easily identify the deficit areas as per theguidelines of the Department, where expansion of branch/ ATM/BCA network needs to be carried out.

Right to education act

The Right of Children to Free and Compulsory Education Act or Right to Education Act (RTE), is an Act of the Parliament of India enacted on 4 August 2009, which describes the modalities of the importance of free and compulsory education for children between 6 and 14 in India under Article 21a of the Indian Constitution.[1] India became one of 135 countries to make education a fundamental right of every child when the act came into force on 1 April 2010.[2][3][4]

The Act makes education a fundamental right of every child between the ages of 6 and 14 and

specifies minimum norms in elementary schools. It requires all private schools to reserve 25% of

seats to children (to be reimbursed by the state as part of the public-private partnership plan). Kids

are admitted in to private schools based on caste based reservations. see Page 9 and Point no 4

of This Document. It also prohibits all unrecognised schools from practice, and makes provisions

for no donation or capitation fees and no interview of the child or parent for admission.[15][16] The Act

also provides that no child shall be held back, expelled, or required to pass a board examination until

the completion of elementary education. There is also a provision for special training of school drop-

outs to bring them up to par with students of the same age.

The RTE act requires surveys that will monitor all neighbourhoods, identify children requiring

education, and set up facilities for providing it. The World Bank education specialist for India, Sam

Carlson, has observed:

The RTE Act is the first legislation in the world that puts the responsibility of ensuring enrolment, attendance and completion on the Government. It is the parents' responsibility to send the children to schools in the US and other countries.[17]

The Right to Education of persons with disabilities until 18 years of age is laid down under a

separate legislation- the Persons with Disabilities Act. A number of other provisions regarding

improvement of school infrastructure, teacher-student ratio and faculty are made in the Act.

Education in the Indian constitution is a concurrent issue and both centre and states can legislate on

the issue. The Act lays down specific responsibilities for the centre, state and local bodies for its

implementation. The states have been clamouring that they lack financial capacity to deliver

education of appropriate standard in all the schools needed for universal education.[18] Thus it was

clear that the central government (which collects most of the revenue) will be required to subsidise

the states.

A committee set up to study the funds requirement and funding initially estimated that Rs 1710 billion

or 1.71 trillion (US$38.2 billion) across five years was required to implement the Act, and in April

2010 the central government agreed to sharing the funding for implementing the law in the ratio of

65 to 35 between the centre and the states, and a ratio of 90 to 10 for the north-eastern states.[19] However, in mid 2010, this figure was upgraded to Rs. 2310 billion, and the center agreed to raise

its share to 68%.[18] There is some confusion on this, with other media reports stating that the

centre's share of the implementation expenses would now be 70%.[20] At that rate, most states may

not need to increase their education budgets substantially.

A critical development in 2011 has been the decision taken in principle to extend the right to

education till Class X (age 16)[21] and into the preschool age range.[22] The CABE committee is in the

process of looking into the implications of making these changes.

The quality of education provided by the government system is not good.[33] While it remains the

largest provider of elementary education in the country forming 80% of all recognised schools, it

suffers from shortages of teachers, infrastructural gaps and several habitations continue to lack

schools altogether. There are also frequent allegations of government schools being riddled with

absenteeism and mismanagement and appointments are based on political convenience. Despite

the allure of free lunch-food in the government schools, many parents send their children to private

schools. Average schoolteacher salaries in private rural schools in some States (about Rs. 4,000 per

month) are considerably lower than that in government schools.[34] As a result, proponents of low

cost private schools, critiqued government schools as being poor value for money.

Children attending the private schools are seen to be at an advantage, thus discriminating against

the weakest sections, who are forced to go to government schools. Furthermore, the system has

been criticised as catering to the rural elites who are able to afford school fees in a country where

large number of families live in absolute poverty. The act has been criticised as discriminatory for not

addressing these issues. Well-known educationist Anil Sadagopal said of the hurriedly-drafted act:

It is a fraud on our children. It gives neither free education nor compulsory education. In fact, it only legitimises the present multi-layered, inferior quality school education system where discrimination shall continue to prevail.[29]

Entrepreneur Gurcharan Das noted that 54% of urban children attend private schools, and this

rate is growing at 3% per year. "Even the poor children are abandoning the government schools.

They are leaving because the teachers are not showing up."[29] However, other researchers have

countered the argument by citing that the evidence for higher standards of quality in private

schools often disappears when other factors (like family income, parental literacy- all correlated

to the parental ability to pay) are controlled for.

FDI IN RETAIL

Foreign direct investment (FDI) is a direct investment into production or business in a country by an individual or company of another country, either by buying a company in the target country or by expanding operations of an existing business in that country. Foreign direct investment is in contrast to portfolio investment which is a passive investment in the securities of another country such as stocks and bonds.

The rapid growth of world population since 1950 has occurred mostly in developing countries.[citation

needed] This growth has been matched by more rapid increases in gross domestic product, and thus

income per capita has increased in most countries around the world since 1950. While the quality of

the data from 1950 may be of question, taking the average across a range of estimates confirms

this. Only war-torn and countries with other serious external problems, such as Haiti, Somalia, and

Niger have not registered substantial increases in GDP per capita. The data available to confirm this

are freely available.[6]

An increase in FDI may be associated with improved economic growth due to the influx of capital

and increased tax revenues for the host country. Host countries often try to channel FDI investment

into new infrastructure and other projects to boost development. Greater competition from new

companies can lead to productivity gains and greater efficiency in the host country and it has been

suggested that the application of a foreign entity’s policies to a domestic subsidiary may improve

corporate governance standards. Furthermore, foreign investment can result in the transfer of soft

skills through training and job creation, the availability of more advanced technology for the domestic

market and access to research and development resources.[7] The local population may be able to

benefit from the employment opportunities created by new businesses.[8]

India[edit]

Foreign investment was introduced in 1991 under Foreign Exchange Management Act (FEMA),

driven by then finance minister Manmohan Singh. As Singh subsequently became the prime

minister, this has been one of his top political problems, even in the current times.[12][13] India

disallowed overseas corporate bodies (OCB) to invest in India.[14] India imposes cap on equity

holding by foreign investors in various sectors, current FDI limit in aviation sector is maximum 49%.[15]

Starting from a baseline of less than $1 billion in 1990, a 2012 UNCTAD survey projected India as

the second most important FDI destination (after China) for transnational corporations during 2010–

2012. As per the data, the sectors that attracted higher inflows were services, telecommunication,

construction activities and computer software and hardware. Mauritius, Singapore, US and UK were

among the leading sources of FDI. Based on UNCTAD data FDI flows were $10.4 billion, a drop of

43% from the first half of the last year

How technology can benefit banking industry

Overview of Technology's Effect

on the Banking Industry

by Ronald R. Graczyk

Twenty years ago, a bank was the building you visited to make a deposit or withdrawal. Its towering marble columns brought to mind the ancient wisdom and stability of Rome or Athens. But if you walk the streets of Rome or Athens today, you see that the Coliseum and the Parthenon have crumbled with the inundations of successive societies . The more traditional notion of a bank also crumbles, in large part due to the pounding waves of modern technology. But rather than being left as a monument to the past, the banking industry seeks to be rebuilt through this same technology which washes it away.

The dissemination of technology into society has enabled various financial-services companies or divisions of companies to lure customers from banks. Banks have lost much of the auto loan market to Ford, General Motors, and other members of the auto industry. AT&T has become one of the larger players in the recently expanded credit card market. Employee credit unions are now a significant player in consumer banking.

Despite losses in their traditional roles, banks are facing new opportunities and markets created by technological developments. Three significant areas of development--Imaging Technology, Electronic Data Transfer (EDT), and Smart Cards and virtual banking--work individually and together to transform banking's role and appearance in society.

Imaging Technology (Electronic Check Presentment)

Physical transfer of paper checks between retailers and banks, and between banks, limits this payment's potential effectiveness. Check-fraud risk, whether due to insufficient funds or actual fraudulent checks, has been a significant expense faced by banks and retail businesses. In addition, handling costs and lost interest resulting from the transference were also noteworthy expenses. Electronic Check Placement (ECP) was developed to combat fraud initially, but it has also had a major impact on the other two costs.

ECP separates the payment information on the check from the actual paper document. A depositing bank uses the Magnetic Inc Character Recognition (MICR) from the check to identify and transmit payment information to the paying bank. The paying bank can then notify the depositing bank which checks are "fraudulent," nipping the fraudulent process at an early stage, which also helps reduce handling costs. Funds need no longer be withheld until the paper document is transferred: interest can be earned by the depositing bank from the moment of electronic transfer. Plus, EPC

enables fewer errors that result from miscalculations and fewer mistakes made in transference of information.

As powerful the effects of ECP may be, imaging technology opens further opportunities through its elimination of and consolidation of paper documents. Signatures, handwritten payment information, and MICR information can be transferred "visually," preventing a significant amount of fraud, and saving paper and handling costs. But this is only the beginning of the changes that imaging offers. The greatest opportunity lies in integration of all of the documents related to a customer on a single database. Not only will this reduce the material and storage and retrieval costs associated with paper documents, but it will allow banks to serve customers more quickly and more efficiently.

Electronic Data Transfer

Closely related to ECP and Imaging is Electronic Data Interchange (EDI). EDI is a process where by companies can make electronic payments directly, without a human interface. Transactions are sped up, and many of the same benefits as are under ECP and Imaging are realized, including reduced error and reduced handling costs. Labor costs can be significantly reduced because fewer people are needed to process the bank's daily business transactions.

Banks will be able to charge firms (and other banks) fees for EDT service. As EDT service is expanded into new areas, rather than merely replacing other forms of bank-managed payment, its fees will help to strengthen banks' financial position. Many banks have suffered large financial losses in recent years due to fluctuations in the interest rates. Because of this, Banks have been moving away from interest-sensitive income, and more toward fee income like that generated by EDT services.

Smart Cards and Virtual Banking

The proliferation of ATMs and the potential of Internet banking services move banking from the columned buildings of Main Street to virtually anywhere. To date, the lack of a safe, effective payment system has kept virtual banking from spreading at an even faster rate, but Smart Cards may change that. Smart Cards are credit-card-sized plastic cards with a microprocessor chip. These cards can hold and release a stored amount of money, and they can access or manipulate information or cash.

Not only can this technology improve customer service through more timely and more flexible service (note how technology has helped shift the definition of "service" from a personal interaction to a specific manipulation or a degree of accessibility), but Smart Cards can generate new revenues for banks. The credit card presently serves

customers over a wide range of transactions: it can be used to purchase durable and non-durable goods, entertainment, and long-distance communication, for example. Along with this wide-spread use, however, comes the constant threat of credit card fraud, either through stolen cards or card numbers, or through a customer's overcharging with a card and not paying off the balance. Smart cards improve on the credit card by diminishing the threat of fraud and by allowing an even wider range of use for the card. A Personal Identification Number (PIN) associated with a Smart Card can help prevent someone other than the intended user from using the card. In addition, since Smart Cards either contain or directly access a "cash" balance instead of purchasing on credit, customers are less likely to overcharge with the cards.

Besides reducing fraud, Smart Cards provide other opportunities for use. They expand the range of transactions to include financial services such as securities market manipulations, mortgage and loan payments, and insurance transactions. This secure method of payment opens greater opportunities for information and payment interactions across the Internet (which helps to further increase/disintegrate the bounds of the bank). The cards can hold encryption and authorization data to be used as access keys into information in businesses, on (new-and-improved) ATMs, and across the Internet. The microprocessors will allow Cards to hold 32K of memory within the next two years. This will enable them to be used as information managers by linking payment systems together with a wealth of personal records and outside sources of information.

Possibly the greatest advantage that Smart-card technology provides to banks is this wider range of society's transactions in which the bank can participate. As Smart Cards replace cash, credit cards, and many of the check purchases, banks can earn fees on a greater percentage of society's transactions. Banks can be in a stronger income-producing position than even the IRS in that it will immediately collect its taxes/fees at the point of sale, and it will collect taxes/fees on transactions that even the IRS does not collect on [e.g., tax-free purchases like milk and meat and Oreo cookies(!)]. As was previously mentioned, with banks looking to secure themselves from interest-rate fluctuations, fee-based income such as those generated by Smart Cards are especially desired.

Technology's Shift of Banking

Even stronger than the individual effects of various technologies on the banking industry will be their combined effect. Just as the face of banking is changing, so is its core business shifting. Traditionally, banking has been in the financial services business; and more precisely, it has been in the saving and loan business (to put it coarsely). Changes in technology and the competitive environment, combines with changes in the regulatory environment, are widening banking's financial focus to

include securities investments and insurance services. But of even greater impact may be banking's shift toward being an information processor.

Imaging Technology, EDI, Smart Cards (with the Internet), and other technological advances place banks in the position of being producer, organizer, and disseminator of information in society. Not only can the banking industry determine access to and payment for information and information processing, but banks can move more into the consulting business. A bank can work with an individual firm (or an industry) to develop an information, payment, and financing system most appropriate for the business. For example, a bank could work with a hospital to develop an electronic filing system that would use imaging technology to coordinate "images" of handwritten prescriptions and doctor's notes, medical reports, billing records, and patient identification information. An EDI system could be set up to speed billing between the hospital and insurance companies (and their respective bank accounts). Smart Card technology could allow quick identification of patients' health data and payment information; plus, it could be used to allow medical personnel (and patients) quality access to personal financial information.

This shift in core concentration also posses the danger of banks lacking a central focus because they are pulled between the financing and the information-processing directives. Changes in society have placed banking on the crest of the technological wave, leaving banks to negotiate the wave, to determine what role they will play in the next generation.

Problems of unemployment in india

The problem of unemployment means the problem of providing work to those who are

willing to work. A large number of educated and uneducated people, who are capable

of work and are also willing to do it, roam here and there without any job. So the

problem has assumed an acute form.

There is a large number of people who are either partly employed or wholly

unemployed. The lives of such people, as well as of their families, are extremely

miserable. India cannot claim to be a welfare state so long as this problem remains

unsolved. Before discussing the ways and means of solving this problem, let us first

examine the causes which have created it.

It is a well known fact that ours is a thickly populated country. The population is

increasing by leaps and bounds. But jobs and gainful avenues cannot be created in the

same proportion. So, naturally, a large section of the people is left unemployed.

Moreover, our education system is also responsible for this problem. The problem of

educated unemployment is peculiar to India. India is only country in the world where

even highly educated persons fail to to get employment. Every year thousands and

thousands of graduates pass out of schools and colleges. They are unfit for any work,

except office work. All of them cannot be absorbed in services. This increases

employment.

The problem of unemployment is mainly an economic one. It is essential, therefore,

that the economic policy of the country be overhauled. In our country, labor is

available in abundance. We should provide avenues for employment for them through

cottage and small-scale industries. besides this, stress must be laid on family planning.

Every effort must be made to check the rapid rise in population. This will help a great

deal in the solution of this problem.

More stress should be laid on technical and vocational education. The present bookish

education which produces clerks alone should be restricted. When people get technical

and vocational education, they will not hanker(to desire earnestly) after services on

completing their education, they will come out well prepared to stand on their own

legs. The problem will be half-solved, if this suggestion is implemented.

Our joint-family system is gradually breaking down. This may be a good social change

from certain points of view, but front the point of view of unemployment it is harmful.

When we live jointly, some family members get employed in family professions. One

who gets a job, supports others who may not be equally fortunate. We should not be

hasty in breaking down this system.

Our country cannot advance economically, politically, or socially, unless this problem is

solved. Many a social evil is spread through the unemployed. Frustration, drug-

addiction, even suicides are, by and large, the evil results of unemployment. Unrest

and disorder increase in society. It is, therefore, the duty of the Government to make

every possible effort to solve this problem. However, we may stress again that the

problem cannot be solved till the population explosion is not checked. The two are

closely inter-linked, and the people must be made to realize this through and adequate

process of social education. We are happy to note that the government has come out

with a plan to provide employment to educated young men during the ninth plan

period.

Unemployment is serious problem that our government faces. Our leaders are trying their utmost best to solve it wisely. If it is not solved sooner, a social revolution may take plea to have its solution. The main cause of unemployment is the repaid growth of populations. Since independence the populations of India has increased by threes times its total. When people multiply, there raises the problems of unemployment and it becomes difficult for government to provide employment to a sufficient number of people. As a matter of principle it becomes the duty of government to provide employment to all as far as possible

and we are blessed that our government is taking keen interest to solve this series problem of today. As the growth of populations is going unchecked, jobs and services in a given field commonly remains insufficient. When our youths do not find employment despite their best efforts, they get irritated and feel disappointed.

There are three types of unemployment, viz., labor class who are not educated, educated persons without possessing any technical qualifications and technical persons such as engineers and technical. Let us implore them one by one.

In case of labor class there are lakhs of people who earn their livelihood daily and gather themselves on some specific place just to find daily employment somewhere. They are not disappointed to a great extends. Sometimes they find employment and sometimes they return to their houses without finding employment. They are habituated to adjust themselves with the circumstance, though they also become irradiated and disappointed sometimes when problems of food and clothing arise before them. This is the case with general labor of the cities. As regards the agriculture labor of the village, they’re also not disappointed to a great extent as they find seasonal employment very easily in the farms and fields of big farmers.

Since the number of educated persons is increasing day by day, we are not in a position to afford a venue of work for this growing number. As such our educated persons are very much disappointed when they wander dark roads in search of employment. As they do not possess any technical and practical training, they only try to find clerical job which are not sufficiently according to the increasing number of educated persons. It has become a very ticklish problem which is being faced by our government.

As regards educated persons, possessing technical qualifications, they tend to be frustrated when they do not find employment despite their best qualifications. There can be in no two opinions that they find their employment very easily on the merits of their technical qualifications, but according to the increasing number of such educated persons also become victims of unemployment. Education is a very good thing and one must be educated but the irony of it is that when we offer educations to young people we are not in position to offer jobs to them. This is the very cause of disappointment among our educated youths.

The educated youth should change their mind also and they should think of self-employment, rather than searching jobs and services hither and there wasting their energy. In this way very serious problem of unemployment may be saved to a great extent.

RBI and its role in economy

RBI & its role in the economyPosted on December 23, 2012 by Way2Bank

In the last post we had covered about banking and banking structure in India. This post we

will talk about RBI and its role in the economy.

The Reserve Bank of India (RBI) is the central banking and monetary authority of India,

and also acts as theregulator and supervisor of commercial banks.

As the central bank of the country, the RBI performs a wide range of functions; particularly,

it:

1. Acts as the currency authority – The Reserve Bank manages currency in India. The

Government, on the advice of the Reserve Bank, decides on the various denominations. The

Reserve Bank also co-ordinates with the Government in the designing of bank notes,

including the security feature. The Reserve Bank estimates the quantity of notes that are

likely to be needed denomination-wise and places the indent with the various presses

through the Government of India.

The Reserve Bank derives its role in currency management on the  basis of the Reserve

Bank of India Act, 1934. All the currency notes except one rupee note are issued by RBI. The

RBI act permits RBI to issue notes in the denominations of rupees 2, 5, 10, 20, 50, 100, 500,

1000, 5000, 10000. Currently 5000 and 10000 rupee notes are not in circulation.

2. Controls money supply and credit – RBI controls the supply of money in the economy

by exercising its control over interest rates in order to maintain price stability and achieve

high economic growth. RBI takes into account the following monetary policies to control

money supply and credit -

a)      Open Market Operations

b)      Cash Reserve Ratio

c)       Statutory Liquidity Ratio

d)      Bank Rate Policy

e)      Repo Rate and Reverse Repo Rate

Each of the five points will be discussed in detail in a separate post.

3. Manages foreign exchange – RBI ensures that short term fluctuations in trade do not

affect the exchange rate. In order to maintain stability in exchange rates, RBI enters into

foreign exchange transactions

4. Serves as a banker to the government –RBI acts as the banker, agent and advisor to

the Government of India. It accepts payment for the account of the union and also makes

payment on the behalf of government.

5. Acts as the banker of banks – As the bankers’ bank, RBI holds a part of the cash

reserves of banks, lends the banks funds for short periods, and provides them with

centralised clearing and cheap and quick remittance facilities.

6. Supervises banks – RBI exercises powers of supervision, regulation and control over

commercial banks. The bank’s regulatory functions relating to banks cover their

establishment (i.e. licensing), branch expansion, liquidity of their assets, management and

methods of working, amalgamation, reconstruction and liquidation.

The Reserve Bank of India (RBI) has multiple functions. It is responsible for all the notes that we have. It is responsible for

the entire notes and coins that are in circulation. The Reserve Bank of India is also the regulator of the banking system. It is

also responsible for setting the interest rates in India. Our monetary policy as we know it, Reserve Bank of India determines

which levels that you and me as consumers borrow or favours receive received for the interest rate setting for an economy is

also determined by the Reserve Bank of India. The RBI also determines what should be the money supply growth in the

country. If it wants to boost demand, if it wants growth to pick up it can inject a lot more of money into the system to generate

growth. On the other hand, if it wants the economy to slow down because it believes there is excess demand then it can

tighten the money supply in the system and therefore try to bring about a slow down in the economy. There are multiple

factors to what an Reserve Bank Of India does, interest rate setting being the most important for us in the financial market.

IMPORTANCE OF EDUCATION IN DEVELOPMENT OF COUNTRY

Importance of Education

The importance of learning in enabling the individual to put his potentials to optimal use

is self-evident. Without education, the training of the human minds is incomplete. No

individual is a human being in the working world until he has been educated in the

proper sense. Now I'm not saying you're not a human being without education. The

mind was made to be trained and without education, a person is incomplete in that

sense. Education makes man a right thinker and a correct decision-maker. It achieves

this by bringing him knowledge from the external world, teaching him to reason, and

acquainting him with past history, so that he may be a better judge of the present.

Without education, man, as it were, is shut up in a windowless room. With education, he

finds himself in a room with all its windows open to the outside world. In other words,

people who are not educated have less opportunity to do what they want to do. A

person that gets a good education will become a more dependable worker, a better

citizen, and a stronger consumer. For example, people would rather higher an educated

man rather than a non-educated person. When looking at the long-term effects of an

education, our economy needs these educated people to know how to keep the

economy efficient and not get into a bind in the future. Someone said if they were Bill

Gates ( Since he is very educated), would he understand the economy better? Of

course not but that's not what I am trying to say. How advanced do you think the

computer would be without him? The more educated someone is, the more knowledge

one obtains on different subjects. Each person has a different level of understanding for

each subject there is to learn about. That is why there are experts in every field you

could go into and each part is a piece of the puzzle that makes this world/economy

grow. Since technology has come as far as it has in the past decades, there are

important skills that must be learned...

Education is milestone of every type of development . Education provides all knowledge to do any

work with systematic way . With education any country develop his economy and society . Well-

educated population lives with silence and calm . They love with each other and believe in social

community . Education develops the personality of the youth of nation . Education makes people

perfect by providing large number of skills . Education creates awareness in the population that makes

them self-reliance and self-dependent . Education is such source that increases if it is distributed ,

Large number of International NGO are providing free education to the orphan students of developing

Country . SOS Children Village is one of example of them . I have provided education to students of

SOS children Village for many year in the beginning of my teaching Career . Education has the power

to create stability and equality in different religions , caste people ..

CORRUPTION IN POLITICS

Political corruption is the use of powers by government officials for illegitimate private gain. An

illegal act by an officeholder constitutes political corruption only if the act is directly related to their

official duties, is done undercolor of law or involves trading in influence.

Forms of corruption vary, but include bribery,extortion, cronyism, nepotism, patronage, graft,

and embezzlement. Corruption may facilitatecriminal enterprise such as drug trafficking,money

laundering, and human trafficking, though is not restricted to these activities. Misuse

of government power for other purposes, such as repression of political opponents and

general police brutality, is not considered political corruption. Neither are illegal acts by private

persons or corporations not directly involved with the government.

The activities that constitute illegal corruption differ depending on the country or jurisdiction. For

instance, some political funding practices that are legal in one place may be illegal in another. In

some cases, government officials have broad or ill-defined powers, which make it difficult to

distinguish between legal and illegal actions. Worldwide, bribery alone is estimated to involve over 1

trillion US dollars annually.[1] A state of unrestrained political corruption is known as a kleptocracy,

literally meaning "rule by thieves".

Some forms of corruption – now called “institutional corruption”[2] – are distinguished from bribery

and other kinds of obvious personal gain. A similar problem of corruption arises in any institution that

depends on financial support from people who have interests that may conflict with the primary

purpose of the institution.

In politics, corruption undermines democracy and good governance by flouting(comment) or even

subverting formal processes. Corruption in elections and in the legislature reduces accountability

and distorts representation in policymaking; corruption in the judiciary compromises the rule of law;

and corruption in public administration results in the inefficient provision of services. It violates a

basic principle of republicanism regarding the centrality of civic virtue. More generally, corruption

erodes the institutional capacity of government if procedures are disregarded, resources are

siphoned off, and public offices are bought and sold. Corruption undermines the legitimacy of

government and such democratic values as trust and tolerance. Recent evidence suggests that

variation in the levels of corruption amongst high-income democracies can vary significantly

depending on the level of accountability of decision-makers.[3

In the private sector, corruption increases the cost of business through the price of illicit payments

themselves, the management cost of negotiating with officials and the risk of breached agreements

or detection. Although some claim corruption reduces costs by cutting bureaucracy, the availability of

bribes can also induce officials to contrive new rules and delays. Openly removing costly and lengthy

regulations are better than covertly allowing them to be bypassed by using bribes. Where corruption

inflates the cost of business, it also distorts the playing field, shielding firms with connections from

competition and thereby sustaining inefficient firms.[4]

Corruption also generates economic distortions in the public sector by diverting public investment

into capital projects where bribes and kickbacks are more plentiful. Officials may increase the

technical complexity of public sector projects to conceal or pave the way for such dealings, thus

further distorting investment.[5] Corruption also lowers compliance with construction, environmental,

or other regulations, reduces the quality of government services and infrastructure, and increases

budgetary pressures on government.

Economists argue that one of the factors behind the differing economic

development in Africa and Asia is that in Africa, corruption has primarily taken the form of rent

extraction with the resulting financial capital moved overseas rather than invested at home (hence

the stereotypical, but often accurate, image of African dictators having Swiss bank accounts).

InNigeria, for example, more than $400 billion was stolen from the treasury by Nigeria's leaders

between 1960 and 1999.[6] University of Massachusetts Amherst  researchers estimated that from

1970 to 1996, capital flight from 30 sub-Saharancountries totaled $187bn, exceeding those nations'

external debts.[7] (The results, expressed in retarded or suppressed development, have been

modeled in theory by economist Mancur Olson.) In the case of Africa, one of the factors for this

behavior was political instability, and the fact that new governments often confiscated previous

government's corruptly obtained assets. This encouraged officials to stash their wealth abroad, out

of reach of any future expropriation. In contrast, Asian administrations such as Suharto's New

Order often took a cut on business transactions or provided conditions for development, through

infrastructure investment, law and order, etc.

Corruption is often most evident in countries with the smallest per capita incomes, relying on foreign

aid for health services. However, political exploitation of these funds have been noted to occur in the

past, especially in the sub-Saharan African nations, where it was reported in the 2006 World Bank

Report that about half of the funds that were donated for health usages, were never invested into the

health sectors or given to those needing medical attention. Instead, they were expended through

“counterfeit drugs, siphoning off of drugs to the black market, and payments to ghost employees”.

Ultimately, there is a sufficient amount of money for health in developing countries, but this cash is

given to the wrong hands, which leads to political and governmental corruption that takes away

medical attention necessary for the citizens of these regions, and rather, used for personal gain.[8]

Corruption facilitates environmental destruction. Corrupt countries may formally have legislation to

protect the environment, it cannot be enforced if officials can easily be bribed. The same applies to

social rights worker protection, unionizationprevention, and child labor. Violation of these laws rights

enables corrupt countries to gain illegitimate economic advantage in the international market.

The Nobel Prize-winning economist Amartya Sen has observed that "there is no such thing as an

apolitical food problem." While drought and other naturally occurring events may

trigger famine conditions, it is government action or inaction that determines its severity, and often

even whether or not a famine will occur. Governments with strong tendencies

towardskleptocracy can undermine food security even when harvests are good. Officials often steal

state property. In Bihar, India, more than 80% of the subsidized food aid to poor is stolen by corrupt

officials.[9] Similarly, food aid is often robbed at gunpoint by governments, criminals, and warlords

alike, and sold for a profit. The 20th century is full of many examples of governments undermining

the food security of their own nations – sometimes intentionally.

IMPACT OF ECONOMIC TERRORISM

he term economic terrorism is strictly defined to indicate an attempt at economic destabilization by

a group.[citation needed] More precisely, in 2005 theGeneva Centre for Security Policy defined economic

terrorism in the following terms:

Contrary to "economic warfare" which is undertaken by states against other states, "economic

terrorism" would be undertaken by transnational or non-state actors. This could entail varied,

coordinated and sophisticated or massive destabilizing actions in order to disrupt the economic and

financial stability of a state, a group of states or a society (such as market oriented western

societies) for ideological or religious motives.

These actions, if undertaken, may be violent or not. They could have either immediate effects or

carry psychological effects which in turn have economic consequences.[1]

In a different usage of the expression, socialist writers accuse the neo-liberal policies of being a form

of 'economic terrorism'.[2]:2073

Impact on Supply Chains[edit]

Terroristic attacks against ports and land borders cause extra measures to be implemented to

ensure the safe arrival of the product. These measures force the cost of exporting and importing

goods to increase. Emerging economies are the most affected, because the slowing of exports and

imports will affect the country’s ability to combat poverty. An increase in poverty can cause revolts

among the population and possible political destabilization, forcing an even greater increase in

poverty.[3]

Due to piracy governments and maritime industries must take preventative measures. The United

States Maritime Administration says, “ These actions may include a larger military presence in high-

risk areas, rerouting ships to bypass the Gulf of Aden, paying higher insurance premiums, hiring

private security guards, and installing non-lethal deterrent equipment.” The cost of these

preventative measures are passed on to consumers and tax payers, ultimately directing money

away from other areas of the economy.[4]

ECONOMIC IMPACT OF TERRORISM

Terrorism imposes a significant economic effects on societies and will not only lead to direct material

damage, but also to long term effects on the local economy. The identification and the estimation of

these economic effects of terrorism has received broad attention in economic literature and research,

especially since the events around 9/11.

Economists use various definitions and terminology for categorising the economic impact of terrorism.

The two main categories are the primary and secondary economic impact of terrorism, also referred to as

direct and indirect economic effects[2]

Primary economic impact of terrorism

Primary economic impact of terrorism “refers to the effects arising from the immediate aftermath of a

terrorist event” . These effects include the physical destruction of urban objects, and the human casualties

(injuries and losses of human life). Primary economic impact of terrorism refers to the effects arising from

the immediate aftermath of a terrorist event[3]. These effects include the physical destruction of urban

objects, and the human casualties (injuries and losses of human life).

Micro-economic impact

On a micro-economic[4] level, terrorist events influence three main types of economic actors, namely:

1. individual households,

2. the private sector (companies), and

3. the public authorities (see table below).

Household level Companies Public sector

There is not much available

literature when it comes to the

primary costs that households

experience due to terrorism

itself[3]. Surveys in France, the

Republic of Ireland and the UK

illustrate that terrorist attacks

have a negative effect on

reported life satisfaction[5]. Other

empirical research found out that

Businesses and firms, especially the

ones operating to or from insecure

countries, are frequent victims of

terrorist events. According to the

German security economists

Schneider, Brück and Meierrieks

(2010), this is also due to the fact

that public buildings are better

protected in general. The actual

direct losses of terrorism depend on

There is not much literature

available on this subject. The

costs arising from physical

destruction from small-scale

terrorist events are not

structurally measured, except for

major events like 9/11 and the

terror events in London and

Madrid. Costs for the public

sector arise whenever public

terrorism will produce more fear

than other, more probable risks[6].

the nature of the attack (property

damage or ransom payments for

hostages), but overall, Enders and

Sandler (2008)[7]conclude that most

sectors recover quickly, given that

the economy does not face

sustained terrorist attacks, like in

Israel and Northern Ireland.

infrastructure or buildings are

destroyed (including military

structures and equipment), but

are generally considered to be

relatively small[3]. Moreover,

terrorism forces local and

national authorities to spend

billions on the prevention of

terrorism and the detection,

prosecution and punishment of

terrorists.

Due to a terrorist event, these economic agents suffer from impact through losses in physical and human

capital, and, at the same time, they themselves may influence the economy through their immediate

responses to the violent shock that occurred[3].In general, the direct economic losses of terrorism do not

bulk very large[8], with an exception for the unprecedented magnitude of the 9/11 attacks[9]. Terrorism in

general, and especially in Europe, can, according to Schneider et al. (2010), be characterized as small

scale, but frequent events, more focused on objects with a symbolic or political value and not so much on

economic symbols like the World Trade Centre in New York.

The economic impact of terrorism can be calculated from a variety of perspectives. There are direct

costs to property and immediate effects on productivity, as well as longer term indirect costs of

responding to terrorism. These costs can be calculated quite minutely; for example, calculations have

been made about how much money would be lost in productivity if we all had to stand in line at the

airport for an extra hour every time we flew. (Not as much as we think, but the line of reasoning finally

gave me a rationale for the unreasonable fact that first class passengers wait less. Maybe someone is

guessing, rightly, that an hour of their time costs more than an hour of mine).

Economists and others have tried to calculate the economic impact of terrorism for years in areas

beset by attacks, such as Spain's Basque region and Israel. In the last several years, most analyses of

terrorism's economic costs begin with an interpretation of the costs of the September 11, 2001

attacks.

The studies I examined are fairly consistent in concluding that the direct costs of the attack were less

than feared. The size of the American economy, a speedy response by the Federal Reserve to

domestic and global market needs, and Congressional allocations to the private sector helped cushion

the blow.

The response to the attacks, however, has been costly indeed. Defense   and homeland security

spending are by far the largest cost of the attack. However, as economist Paul Krugman has asked,

should the expenditure on ventures such as the Iraq war really be considered a response to terrorism,

or a "political program enabled by terrorism."

The human cost, of course, is incalculable.

Direct economic impact of terrorist attack

The direct cost of the September 11 attack has been estimated at somewhat over $20 billion. Paul

Krugman cites a property loss estimate by the Comptroller of the City of New York of $21.8 billion,

which he has said is about 0.2 % of the GDP for a year ("The Costs of Terrorism: What Do We Know?"

presented at Princeton University in December, 2004).

Similarly, the OECD (Organisation for Economic Cooperation and Development) estimated that the

attack cost the private sector $14 billion and the federal government $0.7 billion, while clean-up was

estimated at $11 billion. According to R. Barry Johnston and Oana M. Nedelscu in the IMF Working

Paper, "The Impact of Terrorism on Financial Markets," these numbers are equal to about 1/4 of 1

percent of the US annual GDP--approximately the same result arrived at by Krugman.

So, although the numbers by themselves are substantial, to say the least, they could be absorbed by

the American economy as a whole.

Economic Impact on Financial Markets

New York's financial markets never opened on September 11, and reopened a week later for the first

time on September 17. The immediate costs to the market were due to damage to the

communications and other transaction processing systems that had been located in the World Trade

Center. Although there were immediate repercussions in world markets, based on the uncertainty

engendered by the attacks, recovery was relatively swift.

Impact on cultural mindset on hiv patientsAlthough changing in size, structure and function, the African family has persistently maintained its place as the central human social unit. Beyond the traditional African family—whether in the nuclear or the extended form—is a network of people, most of whom are connected by kin or blood relationships, termed the clanship system. Patterns of family treatment and care are deeply embedded in this wider Kinship system. The AIDS epidemic has caused adverse psychosocial and economic consequences leading to change in dthe family structure, and thus disturbed the capacity of the nuclear and extended family to respond to the needs of members afflicted by HIV and AIDS.

Hence, the clanship system could become the locus of AIDS activity designed to ensure the well-being and continuity of the family where its leadership undertakes to sustain, to reorganize, or to create wholly m families or structures among populations being

devastated by AIDS. New associations based on common emotional bonds of curing beyond kinship ties will be necessary to support some vulnerable members. However, for such w prove durable in the troubled socio-economic context of Sub-Saharan Africa, these will need strong link to or derive their legitimacy from the resilient traditional social network, the African kinship system.

Paid news in media- its bad impacts

Media is the mirror of our society which delivers economic and political transparency through various channels like online , print and electronic.there is huge impact of paid news which distracts people thoughts.Corporate houses and public relation agencies are using paid news to promote their product and services which are the example of paid news.

IMPACTS OF PAID MEDIA Decrease in credibility of various media channels. Conflicts of news and facts in various media channels. Each channels will be showing

different facts. Lack of useful and informative content Promotion of health hazards products like tobacco Bad impact of thought process of children

In my opinion there should be strict laws and public awareness to improve the transparency in the media houses. Also public relation agencies and media houses shouldn’t promote hazards products. media should also recognize what they are doing and what has its impact on society. Therefore media houses should take responsibility that they are reliable and help the society by means of various channels.

WAYS TO ELIMINATE Mention that news is paid. Informative content is more important than paid content No media house should take money to promote product or service. Never mix paid news with other sections .

The emergence of Media Corporation, through growing cross media ownership is having their impact on media's public service commitments. In recent times, the Indian media and its journalistic practices have been criticised for breaking the trust of the public. Indian media have successfully succeeded in growing their economy through cross-ownership and

advertorials. Under the influence of profit making, commercial interests which are controlling the news content, as editorial contents are being sold like other commodities. This commercialization of the media content is evident in phenomena like paid news.News is meant to be objective, fair and unbiased. This is the only difference between news and opinions. But, recently, the lines between news and advertisements are blurring because paid advertisements are deceived as news which favours a particular organization or a person by selling editorial spaces. The media organizations misguide the readers by providing no true information to them. By doing this, the media questions its own credibility and is fast losing the trust of the society. The readers/viewers cannot distinguish the difference between a news report and advertorials.This paper argues that the media is no longer the fourth estate of journalism and has become like any other marketable product with reference to paid news. The face of journalism in India has changed. The press is mostly owned and controlled by the 'capitalist class' (i.e. the rich and powerful in society; opinion leaders; gatekeepers), who can use the press to report facts which are convenient to them. Over years, the ownership pattern, organizational structure and the content of the newspapers have changed. They are on sale for paid news and private treaties. In addition, this paper also tires to observe the impacts and analyse the responses of the media, civil society and the state on paid news.Paid News and the Private Treaties Phenomenon1“Paid news is run to pass off an advertisement, apiece of propaganda and advertisement...pass that as news, pretend that it is news that is “paid news” – P. Sainath. It is a deal signed by the media organizations with an individual especially corporate houses and the candidate standing for elections, assuring them a fixed amount of coverage through advertisements and news reports in favour of them. In addition, additional fee can be charged to run negative campaign against their rivals. The paid news operation is done secretly and no disclosure is made before such news printed or broadcasted. Journalists willing or otherwise practice this phenomenon on a large scale. Journalists who do not wish to practice this phenomenon are either sacked from their organizations or the individuals are denied coverage and also suffer media blackouts.2The advertisers, who are ever anxious to catch consumers off guard, believe that 'simply there cannot be a better way of breaking into consumer mind space than disguising the brand messages as news, which is more credible and convincing than raw advertising,' says Santosh Desai, managing director and CEO, Future Brands. Such content is priced more than the regular advertising rates.

Importance of mentor in achieving goals

Mentoring is a professional activity, a trusted relationship, a meaningful commitment. The origins of mentoring can be

traced back to ancient Greece as a technique to impart to young men important social, spiritual, and personal values.

Mentoring as we know it today is loosely modeled on the historical craftsman/apprentice relationship, where young

people learned a trade by shadowing the master artisan. In the mid-70s, corporate America redefined mentoring as a

career development strategy. The concept of mentoring faculty and administrators is relatively new to higher

education and rare in information technology circles, where staff professional development often takes the form of

technical manuals and certifications. It is precisely this type of support organization, however, that needs a strong

foundation of mentoring to build and retain a healthy workforce that can react quickly to change and can develop,

adapt, and regenerate itself over time.

Mentoring relationships range from loosely defined, informal collegial associations in which a mentee learns by

observation and example to structured, formal agreements between expert and novice co-mentors where each

develops professionally through the two-way transfer of experience and perspective. Whether the relationship is

deemed formal or informal, the goal of mentoring is to provide career advice as well as both professional and

personal enrichment. For this chapter, we define a mentoring relationship as helping and supporting people to

"manage their own learning in order to maximize their professional potential, develop their skills, improve their

performance, and become the person they want to be."1

Subject: Mentoring tips on actions to achieve goals

Below, people with disabilities share their thoughts about how caring adults like you can help young people with disabilities learn to take appropriate actions to achieve goals. Reflect on their thoughts as you mentor young people in our online community.

The best way for anyone to teach anybody how to assert themselves is to let them do it. (college student with Tourette's Syndrome, Panic Disorder, and Epilepsy)

Keep a positive attitude about the kids' goals, and encourage them to meet those goals. When children don't meet them the first time, stay positive and make sure they know that it's not over and they should keep trying. (high school student with a mobility impairment)

Offer encouragement to kids, but let them sometimes fail to get their resiliency in shape before they are on their own in the real world. (college student who is blind)

I think kids need to realize that everyone experiences failure....It's how you deal with failure that is important. (graduate student with a hearing impairment)

Create goals that have built-in flexibility, and allow room for some trial and error. For example, when I decided to pursue a Ph.D., I developed a backup plan just in case it didn't work out. I find having a Plan A and a Plan B (and sometimes a plan C) really helps me adjust when one goal is unattainable. Knowing that I have something to fall back on relieves a lot of anxiety while I'm working toward my original goal. (graduate student with a hearing impairment)

Help your child learn to never give up. (high school student with a brain injury)

Remind them of times when they have accomplished something and how good it felt. And help them figure out a way to complete the task by suggesting alternate strategies or asking them to come up with alternate methods. (Ph.D. candidate who is blind)

Don't get over-protective—and do not let the disability color every expectation. (computer scientist who is blind)

Help kids set realistic (but not easy!) goals. Help children with disabilities learn to do things independently in order to gain self-confidence. (college student who is deaf)

Be optimistic, never doubt abilities, be positive, and challenge kids. Focus on the positive aspects, and help them set goals THEY want. NEVER, EVER assume they can't do something. (college student with speech and mobility impairments)

I think the attitude of family, parents and grandparents, is very important for how a child approaches life. My family always assumed I could do a lot of things, and I've done quite a few. Basically, parents need to support their child, push their child some without forcing the child to do things that are counter to their own dreams, be available for their child to talk to when setbacks occur, and so on. These attitudes need to be present especially in social things because failures there tend to be much more painful and difficult to overcome. (college graduate who is blind)

Parents can help their kids accept responsibility by taking responsibility for their own actions. (Ph.D. candidate who is blind)

Responsibilities must be given and consequences must be felt. If responsibility isn't given, a child never learns how to handle it. (college graduate who is blind)

Always support and advocate for your child, but don't ever let them think that it is not their problem. Include them in meetings you have with teachers, doctors, and other people. That will teach them to advocate for themselves. (high school student with a learning disability)

I think a good way to help kids accept criticism better is to always present positive feedback first....then bring in the constructive criticism. (graduate student with a hearing impairment)

Encourage children to get out and meet people. They have to make themselves known. Opportunity is much more likely to knock if it knows the address. (college student who is blind)

IMPORTANCE OF INVESTMENT

Significance

Investment is the value of machinery, plants, and buildings that are bought by firms for production purposes.

Investment plays six macroeconomic roles:1. it contributes to current demand of capital goods, thus it increases domestic expenditure;2. it enlarges the production base (installed capital), increasing production capacity;3. it modernizes production processes, improving cost effectiveness;4. it reduces the labour needs per unit of output, thus potentially producing higherproductivity and lower employment;5. it allows for the production of new and improved products, increasing value added in production;6. it incorporates international world-class innovations and quality  standards , briging the gap with more advanced countries and helping exports and an active participation to international trade.

Composition

Although capital accumulation takes place in many institutional sectors of the economy (firms, households, public sector,…), a narrower definition is used in national accountancy.

Investment is just new capital accumulation in business (both private and state-owned).

Household by convention do not invest, even if it does exist a capital accumulation in cars, computers, electric appliances, etc. that we include in their "cumulative bundle".

Public expenditure is partly devoted to roads, railways, infrastructure, buildings (as for schools, hospitals,…). All this is clearly capital accumulation whose utility will last over time. Still, it is quite a common practice for investment in public sector being considered zero by convention.

Investment is classified according to the degree of directness with which it is linked to current and future sales:

1. inventories stock of finished goods, semi-manufactured goods, and raw materials in commercial premises, storehouses and producers' plants;2. equipment for direct production of services and goods;3. transport and auxiliary machineries;4. office and general endowment for indirect workers and management;5. any long-lasting improvement in those items;6. industrial plants and service buildings;7. other buildings.

In today's world, investment in immaterial assets is getting more and more important, as with the case of expenditure in Research & Development, human capital, software and other areas.

Financial investments in shares, obligations and other financial instruments are not considered as "investment" in a macroeconomic 1 `sense nor in national accountancy. The same is true for real estate exchanges of used buildings (both residential and non-residential).

When considering the issue of the creation and diffusion of innovation through investment, a crucial distinction should be made between complementary investments and competitive investments.

Determinants

At firm level, investment is determined by expected benefits as well as funds, both in term of availability and cost (interest rate).

Benefits relate to the effects of investment in terms of increased value added, reducedcosts, larger production, higher competitiveness. Hence, profits are expected to be higher, too. The value over time of these benefits (and profits in particular) are compaared to the investment costs.

The temporal profile of costs and revenues will be important in the decision whether to undertake the investment or not.

In many decision processes and routines, the value over time of benefits will be discounted through a subjective interest rate to keep into account time distance and uncertainty. In others, the decision will be based on more strategic and vital arguments. A new vision of the competitive environment and of the global trends can bring to invest in surprising directions.

Funds for investment can be obtained thanks to the following items:

1. self-financing, in turn due to:1.1. cumulated past profits;1.2. injection of new financial capital from the owners;1.3. amortization, i.e. accountancy allowance for past investment, considered now ascurrent costs but not corresponding to any current expenditure;1.4. extension of equity by new shareholders, as it happens with relatives sendingremittances to home business;

2. loans from banks and other financial institutions:2.1. long-term credit at fixed or variable interest rate in domestic or foreing currency;2.2. short-term credit;2.3. micro-credit in the case of very small business;

3. capital market finance, through the emission of obligations as well as through the issue of shares in the stock market (primary market). The following price fluctuation do not directly have any impact on financing the firm. But it is true that further new

emissions of shares often require positively-oriented capital markets.

4. seed money and expansion capital for new firms provided by venture capitalists and private equity funds;

5. public funds and incentives for investment from international, national, regional, local institutions.

However, the empirical evidence of microdata shows that investment - at micro level - is infrequent and lumpy. There are periods in which firms decide not to invest and periods of large investment episodes. For better understand the issues at stake see this paper.

Investment expenditure is a bet on future. If the bet is lost, the product does not find a remunerative market and much of the investment expenditure turns out to be a sunk costthat cannot be recovered. In the extreme case, investment is irreversible. Coupled with true uncertainty, irreversibility becomes a fairly important determinant of investment levels across industries, as this paper points out.

In the IS-LM model, interest rates are considered the unique determinant of investment. In fact, interest rates play three distinct functions:

1. they influence the discounted value of net benefits over time;2. they determine the cost of loans from banks and the required rate of return for the owners and financing institutions;3. they set the economic climate both for financial and real markets.

In all three function, a higher interest should trigger a lower investment, since the present value of benefits will be lower, finance costs higher and economic perspectives worse.

Still, there exists investments that are not based on interest rates considerations. For instance, firms have usually a very restricted number of investment projects, carrying them out when profitability is well above zero. A small change in interest rate would have simply no impact on each investment decision, thus on aggregate level as well.

By contrast, the effect of large interest rate changes may be highly asymmetric: astrong increase of interest rate can indeed provoke a fall in investment dynamics whereas a similar decrease may fail to induce investment, if real perspective benefits are lacking.

Other determinants of investment should be considered as, for instance, present and expected consumption and export.

Saturation of productive capacity represent a key references for firms' decisions to invest. Expectations about future sales will affect investment if the current capacity is not enough to match the forecasted increase in demaned quantities and the firm is committed to fulfill all orders. Given a ratio of fixed capital to sales, the investment required would be (in a very simplified method of estimation) this ratio times the new additional expected sales.

Furthermore, new technology innovation and the need of imitating competitors' adoption of innovation can also force firms to invest, in a process of diffusion that can be boosted by a conducive tax environment, both in terms of tax breaks and pro-diffusion-of-innovation tax.

Investment in real estate new developments and rejuvenation of existing areas are better understood in operations like urban regeneration.

Women entrepreneurs in india

Last five decades have seen phenomenal changes in the status and work place

diversity of women in India. Women entrepreneurs doming 50s fall into two categories.

One set took to creating and managing an entrepreneurial activity where there was no

income generating male.

The second set took enormous courage to break through the social maps and coding to

take. Charges of the business the husband had left or else her family would be the

losers. In sixties women took small steps to start small one woman enterprises at home

and from home for self occupation and engagement.

The women in seventies opened up new frontiers and developed not only aspirations

but ambitions for self employment and employment generation. These women wanted

home, marriage, children as well as occupation. They accepted the share of the work

and responsibilities for success and growth of their enterprise.

They wanted their voices to be heard as leaders to employees and as managers of the

enterprises to the outside business environment. However, all of them accepted both

their social and occupation roles balancing between the two.

In eighties, the number of women pursuing highly sophisticated technological and

professional education increased. They entered into family business as equally

contributing partners.

They made personal choices, stood up for their convictions and had the courage to

make new beginnings. For them the society was hostile and sometimes they developed

a sense of guilt for not playing appropriate traditional and social roles.

The women of the nineties were capable, competent, confident and as service. They

were clear of their goals, processes and the dynamics of goal accomplishment.

These women were fearless, and have learnt to live alone, travel alone and rear

children alone when failure in marriage and life partnerships occurs. In most of the

cases they move out shone and out performed their male counterparts.

21st century is the century of telecom, IT and financial institutions. Women’s expertise

in all these industries has made them emerge as a force to reckon with.

Many of these industries are headed and guided by women as pioneers and mavericks.

They have ventured to build enterprises, to discover their relevance and meaning of

life in themselves. But still in relation to the women population. The trend has not been

spectacular.

As per 1991 census, only 185900 women accounting for only 4.5% of the total self

employed persons in the country were recorded. Majority of them are engaged in the

unorganized sector like agriculture, agro based industries, handicrafts, handlooms,

and cottage based industries.

There were more than 295680 women entrepreneurs claiming 11.2% of the total 2.64

million entrepreneurs in India during 1995-96. This is almost double the % of women

(5.2%) among the total population of self employed during 1981.

The present rate of 30% success of EDP training was likely to go up to 45% with

growing experience and improved techniques of training and follow up. The women

were to be given training in self employment/entrepreneurship of shorter duration as

well as some training in trade and skill areas.

In order to mobilize such of women entrepreneurs, a number of activities such as

motivational drive; preparation of information material; conducting training; creation

of women industrial estates/areas/sheds; creation of common marketing exposition

centers, training of trainers/ promoters; use of mass media, etc are required.

Combined effect of all these is bound to accelerate the process of women

entrepreneurship development.

Modern times have witnessed an array of changes in societal activities. Among them

the most significant and pertinent is woman liberation and empowerment.

Modern women have traded into almost all spheres and have proved themselves which

were previously the exclusive domain of their male counterparts.

Endowed with famous female institution that helps them make the right choices even

in situations where experience and logic fail, women have innate flair for

entrepreneurship.

They are natural networks and relationship builders, forging powerful bonds and

nurturing relationship with clients and employees alike.

They are more inclined to seek out mentors and develop supportive teams. Women

entrepreneurs need to be landed for their increased utilization of modern technologies

increased investment, finding a niche in the export market creating a sizable

employment for others and setting the trend for other entrepreneurs in the organized

sector.

Gender equality and economic development go hand in hand. The emergence of

women entrepreneurs and their contribution be national economy is quite visible in

India. They now constitute around 10% of the total number of entrepreneurs with a

rapidly increasing trend.

The growing recognition that the women have unique talents which could be

harnessed for development, and for creating employment opportunities for others who

are not suited to an entrepreneurial career, developing women as entrepreneur has

become an important and integral part of national development planning and

strategies.

With corporate eager to associate and work with women owned business and a host of

bands and NGOs keen to help them get going, there has rarely been a better time for

women with zeal and creativity to start their own business.

Concept of women Entrepreneur

The woman or a group of women who initiate, organize, and operate a business

enterprise is known as women entrepreneur. A women entrepreneur has to perform all

the activities involved in establishing an enterprise. These include idea generation and

screening, determination of objectives, project preparation, product analysis etc.

1. According to Frederick Harrison:

“Any woman or group of women which innovates, imitates or adapts an economic

activity may be called woman entrepreneurship”.

2. According to Government of India:

“A woman entrepreneur is defined as an enterprise owned and controlled by a woman

and having a minimum financial interest of 51 percent of the capital and giving at least

51 percent of the employment generated in the enterprise to women”.

3. According to J. Schumpeter:

“Woman who innovates, imitates or adopts a business activity is called woman

entrepreneur”.

The term woman entrepreneur signifies that section of female population who venture

out into industrial activities i.e. manufacturing, assembling, job works,

repairs/servicing and other business.

Bank plays a vital role in india

Fourteen major banks were nationalised in 1969, and some more were nationalised a few year later.

Since then banks have to come to play a major role in the socio-economic life of the country. They

are no longer merely instruments for credit mobilisation and money-lending.

They are no longer merely institutions for earning maximum profits for the benefits of a few

individuals. They are now powerful source of economic growth and social justice.

Shri H. C. Sunkar very pertinently remarked “Banks have to act not only as purveyors of credit, but

also as harbingers of social and economic development through a variety of enterprises, many of

which may be tiny and yet capable of generating productive energies.”

The role of banks has changed; still the quality of banking services in India remains poor. A bank

transaction is a time consuming affairs, causing much harassment and irritation to the clients.

There are frequent exchanges of hot words with concerned clerks, and there have been instances

when even blows have been traded. To avoid such delays and frustrations.

It is essential that the Teller System be introduced in all major banks at the earliest. Computerization

of banking services should also be done in the interest of efficiency and promptness. However, this

will have to be done with due forethought and care as the Employees Unions are generally opposed

to it.

Courteous, sincere and duty conscious staff is also must, if the banks are to play their due role in life

of the country. At present the staff, even in the major nationalised banks, is not only inefficient and

rude, but is also lacking in sense of duty and decorum loan.

For mobilisation of deposits, it is essential that they are made aware of the fact that it is in their

interest to deposit money in the banks.

The people, especially in rural areas, should be assured that the money deposited in banks is

entirely safe and they can withdraw it in their troubled time. Even small investors should be tapped

through such door to door approach.

People in general, especially women, are of the view that it is more profitable to invest money in the

purchase of gold than to put money in banks.

To mobilise deposits schemes such as attractive Re-investment Plan, Recurring Deposit Scheme,

Retirement Plan, Permanent Plan etc. should be promoted. Secondly the small depositors should be

given education in banking.

They have to be assured that their money in the banks is as good as in their purse, that the process

of withdrawal is not difficult and that there are a number of additional benefits, apart from the interest

accruing from bank deposits. Such education to the people is very essential for the rapid

mobilisation of deposits.

It is only when maximum deposits are mobilised that the bank would be able to liberalise their

lending policy and play a creative role in national life. It is essential that loans are advanced to small

entrepreneurs and the self-employed on easy liberal terms.

The criterion should not be paying capacity of the borrower, but whether the loan so advanced is

likely to help in increasing production. If it is so, loans should be advanced even if sometimes there

is a default in the payment of due installments. Banks Managers should make judicious use of their

discretionary powers in this connection.

Banking services should be extended to rural areas also. We are happy to note that during the last

few years more and more banks have opened their branches in the villages. The establishment of

Rural Development Bank is a step in the right direction. Still much more remains to be done.

The task of providing banking facilities to the rural folk should be taken on a war footing. The

advantages of banking should be explained to the rural dwellers that are ignorant and conservative.

Deposits should be mobilised and loans should be advanced on liberal terms.

This would enable agriculturist to purchase good quality seeds fertilizers, and scientific implements

like tractors, thrashers etc. This would result in increased production. In this way the Indian farmer

would be freed from the clutches of the local money lender and his traditional poverty would be

gradually eradicated.

India is on the march; far reaching socio economic changes are taking place and Indian Banks

should come forward to play this role in the process. But this can be possible only if the quality of

banking services is considerably improved.

SME

Small and Medium Enterprises (SMEs) have played a significant role world over in the economic development of various countries. Over a period of time, it has been proved that SMEs are dynamic, innovative and most importantly, the employer of first resort to millions of people in the country. The sector is a breeding ground for entrepreneurship. The importance of SME sector is well-recognized world over owing to its significant contribution in achieving various socio-economic objectives, such as employment generation, contribution to national output and exports, fostering new entrepreneurship and to provide depth to the industrial base of the economy.

Small and medium-sized enterprises (SMEs) are the backbone of all economies and are a key source of economic growth, dynamism and flexibility in advanced industrialized countries, as well as in emerging and developing economies. SMEs constitute   the   dominant   form   of   business   organization,   accounting   for   over   95% and up   to 99% of enterprises depending on   the country. They are responsible for between 60-70% net job creations in Developing countries. Small businesses are particularly important for bringing innovative products or techniques to the market. Microsoft may be a software giant today, but it started off in typical SME fashion, as a dream developed by a young student with the help of family and friends. Only when Bill Gates and his colleagues had a saleable product were they able to take it to the marketplace and look for investment from more traditional sources. SMEs are vital for economic growth and development in both industrialized and developing   countries,   by   playing   a   key   role   in   creating   new   jobs.   Financing is necessary to help them set up and expand their operations, develop new products, and invest in new staff or production facilities. Many small businesses start out as an idea from one or two...

INTODUCTION

Small and medium enterprise(SME’s) in India have a very important place in the Indian economy. Their contribution in terms of production, export, export, employment generation and all round growth of the country is well known. The role of SME sector in the nation building is well recognized not only in India, but also across the globe. The industrial engines of Japan, china, US, Germany and Taiwan are also driven by the SME sector.

Finance/credit is the most critical component in any business process. Any industrial sector cannot work to its full capacity without adequate flow of funds. The SME sector is working with low capacity utilization, which, however, has now improved from 33.34% to around 52% percent. Still these remain a vast scope for enhancing growth and employment generation.

SME’s occupy a place of strategic importance in the Indian economy. however since the early 1990s, Indian SMEs have been exposed to intense competition due to the accelerated process of globalization. Therefore, the survival as well as growth of SMEs is under strain. However, globalization has also brought, in its wake, newer opportunities for SME’s.

SMALL AND MEDIUM ENTERPRISE

There is no universal definition of SME (small and medium enterprise) different countries follow different definition for the SME sector. Some use the criteria of turnover; some use the number of employees whereas in certain countries, investment in the enterprise is used to define an SME.

In India, the definition of SME’s has always been based on the productive plant and machinery. Currently, a unit having gross investment in productive plant and machinery of up to Rs. 1 crore is classified as an SME enterprise. In certain sector such as drugs and pharmaceuticals, hosiery, stationary, hand tools, etc, this limit has been raised to Rs. 5 crore in the past few years. This move has given a fillip to the potential for growth in this sector..

An entrance exam-A evil

Examinations are an age – old practice of evaluating students’ performance.

Dronacharya had also held examinations for his students. God had tested the devotion

of Ibrahim. But the modern system of examination is the gift of the British rule.

Form of examination today:

Prior notice regarding the date and programme of examination; many students curse

it; the examination sects the students’ heart pounding; however, students concentrate

on studies with longer hours; date approaches; question – papers distributed by the

invigilators; certain number of questions to be done in allotted hours; answer – books

given to examiners; evaluation and allotment of marks; results published…

Why examination taken:

To test student’s mental ability and knowledge.

Why examinations are necessary:

To make students work – fear of failure and humiliation; to know the comparative merit

of students and place them accordingly in their careers…

Why examinations are evil:

Examinations encourage cramming rather than true and applicable knowledge; a game

of chance and skill; standard of making not uniform; personal moods and approach of

the examiners may affect objectivity; one year’s efforts tested in just two – three hours

(?)…. Etc.

Suggestions for reform:

A series of practical tests, weekly tests, objective – plus –subjective tests; counseling

for examinations to help students to take the examinations in a sporting spirit;

progressive idea is to allow text-books in examination halls….

Conclusion:

The analysis shows that despite the evil nature of examinations we are bound to go

along with them. This is because we have not hitherto evolved any effective

alternatives to them. However, the tests and evaluation systems should be so designed

that they make a real test of a student’s mental ability, originality and faculty of critical

thinking.

1. All condemn examinations, but cannot do away with them.

2. Examinations are a terror to students and exert a great strain on their mind.

3. Examinations simply encourage cramming and are not the surest test of one’s ability.

4. Examinations, however, arc an incentive to hard work.

5, Examinations are a necessary evil; they bring out the best men and also the best in men.

Students look upon examinations with contempt; they make all possible efforts to avoid them.

Educationists are against them, sad are thinking of abolishing them. Critics find fault with then. In

spite of condemnation from all the quarters, examinations persist. They teem indispensable in every

walk of life. They are the milestones on the road to education and life. Students may come, students

may go, but examinations go on for ever. Examination is the stern child of education; it is a light to

guide and a rod to check the erring. Students cannot get rid of them, and teachers cannot do without

them

Examinations are a horror to students who turn pale and tremble at their approach. They lose

appetites; they do not show toy Interest in games and other recreations. They lose all seats for fife.

They are a tight worth seeing—unshaven beards, disbavellcd hair, and haggard facet. They know

that their future depends upon the result of the examinations, and if they do not fare well, they will be

doomed. Naturally examinations cause a great atrtia on their minds. They offer prayers; they ban

midnight oil; they art reduced

to mere skeletons. This all is due to the defective system of education. If periodical tests are held

and are given as much importance as the final examinations, students will work regularly and will be

saved from excessive physical and mental strain.

Examinations are not necessarily the surest test of the ability i of students.1! They are judged from

what they perform in three hours. Sometimes the most brilliant student is not able to do justice in

such a short duration. On the contrary, a student who has not touched the books the whole year gets

good marks, because all the questions he prepared just before the examination were asked. More-

over, history tells us that most of the great men cut a sorry figure in the examinations.  Shakespeare

never passed any examination, yet his works have won worldwide recognition. The world’s greatest

scientist, Einstein, father of the atomic age, failed in Mathematics, Mahatma Gandhi and Pandit

Nehru were no recordbreakers at the university, though heir personalities shook the whole world.

Examinations do determine the value of majority of the students, but the geniuses have often proved

misfit at the examinations They do not wish to confine their minds within the four walls of the

examinations. No system has yet been? devised which will apply to all sort! of students.

It is held that examinations these days encourage cramming. The students deliberately?; do not take

to studies seriously, as they fcnow that if they prepare a few important questions near the exami-

nations, they will surely get through.  They depend upon helpbooks, guides and booklets, as they

think them to be the surest means to success.  They do not bother to read textbooks or whatever

teachers tell them io the class.  They have Cdevised shortcuts to passthe examinations.  They take

the help of guesspapers, study urjng the last Jmonth, and get good marks. The examinations are

only a feat of memory. Leacock says that parrots woul$, do better in the examinations.   Chance also

plays an important role in the examinanations these days.  A student who has been working for two

years may fail, whereas an idler who has done a few questions which have been asked in the

examination may pass with good marks. The papersetters are expected to ask such questions in the

examinations as may not be answered by the students who totally depend upon cramming and do

not make use of their intelligence.  The entire style of the question papers should be radically

changed in order to discourage the students from working by fits and starts.

With all the faults, examinations are an incentive to hard work. I Thev are indeed a necessity

because it is only the fear of the examinations that makes students work hard.  They areaware of the

humiliation they will face if they do not come out successful. They will not neglect their studies

throughout, as they do not like to be exposed.   But for the examinations, they would not touch their

books at all.  They would waste all their time in idle mischiefs. It is better to carry a few facts in

memory than to be absolutely blank.

Women bill

Women's Reservation Bill or The Constitution (108th Amendment) Bill, is a pending bill

in India which proposes to reserve thirty three per cent of all seats in the Lok Sabha,

the Lower House of Parliament of India, and state legislative assemblies. The Bill says

the seats to be reserved in rotation will be determined by draw of lots in such a way

that a seat shall be reserved only once in three consecutive general elections.

This Bill has been passed by the Rajya Sabha, the Upper House of the Parliament in

March 2010. It needs to be passed by the Lok Sabha and at least fifty per cent of all

state legislative assemblies, before it is put before the President of India for her

approval.

Women already enjoy 33 per cent reservation in gram panchayats and municipal

elections. In addition, women in India get reservation or preferential treatments in

education and jobs. For instance, several law schools in India have a 30 per cent

reservation for females. The political opinion behind providing such reservations to

women is to create a level playing field for all of its citizens. The argument is that

social norms strongly favor men and therefore, reservation for women would create

equal opportunity for men and women.

Among the other benefits that the Bill is expected to provide is an increased

participation of women in politics and society. Due to female foeticide and issues

related to women's health, sex ratio in India is alarming at 1.06 males per female. It is

expected the Bill will change the society to give equal status to women. Women are

supposedly more resistant to corruption, so this bill might prove to be a factor

restraining the growth of corruption.

On the other hand, the passing of the Women' Reservation Bill may cause bias in the

democratic process. It may hurt the self-respect of women who have come up on their

own ability, and may result in lesser respect for women in the society. It may also

bring down the quality of leaders. It may create a new kind of hatred between genders

as males may feel deprived of certain privileges, which in turn may create more social

issues.

Another issue will be for the political parties, which will be forced to find women

whether or not the women identify with the overall party agenda and the rest of the

issues concerning all citizens, as opposed to just women's issues. There are no

provisions to prevent discrimination against men because of finding women who are

inclined towards women's issues alone, or, in other words, biased against men.

Further, powerful male members of parties will be tempted to find female relatives to

'reserve' the seat for themselves. So, it is feared that reservation would only help

women of the elitist groups to gain seats, therefore causing further discrimination and

under-representation to the poor and backward classes.

Some leaders like Mulayam Singh Yadav, Lalu Prasad Yadav and Sharad Yadav have

vehemently opposed the Bill in its current form. They are demanding a reservation for

backward class’s women with the 33 per cent, i.e. they are asking for a reservation

within a reservation.

Irrespective of whether the Bill comes into effect or not, the fact is that women are as

ever underrepresented in the election fray and in party structures. Very little has

changed at one level since Independence. The candidates fielded by the various

political parties are still dominantly male: women account for only five to ten per cent

of all candidates across parties and regions. This is the same broad pattern that has

been observed in virtually all the general elections in the country.

This is the case despite the hullabaloo made over the Constitution (84th Amendment)

Bill relating to women's reservation even last year. The very parties that are most

explicitly in favor of pushing for women's reservation put up the same proportion of

women as always in elections, and certainly not more than other parties that oppose

the Bill.

What may be more significant in terms of political power than the proportion of women

fighting the Lok Sabha polls is the importance of women in inner party structures.

Here women are by and large even less represented, in all parties. Only in the All India

Anna Dravida Munnetra Kazhagam (AIADMK) there has been a conscious move to

bring many more women into decision-making levels and posts within the party.

In most parties, the women members are by and large thin on the ground if not

invisible in the actual decision-making bodies and rarely influence the more significant

party policies. Most often, indeed, they are relegated to the 'women's wing' of the

party, and made to concentrate on what are seen as specifically 'women's issues' such

as dowry and rape cases, and occasionally on more general concerns like price rise

which are seen to affect housewives.

Despite all this, women are playing an important part in Indian politics today. This is

most evident in the proliferation of women leaders and in the fact that, even though

some of them may head parties that are relatively small in the national context, they

simply cannot be ignored. What is even more significant is that in many cases these

women leaders have not emerged through the familiar South Asian paradigm of

dynastic advantage. Sonia Gandhi, obviously, is a clear example of a dynastic leader,

with an almost iconic relevance.

Jayalalitha and Mayawati may have originally based their rise in politics on their

proximity to particular male leaders, but they are now significant leaders in their own

right, who can influence not only the decisions of their own parties but even the course

of national politics. Mamata Banerjee, despite or indeed because of her controversial

nature, is the leader of a party who can claim to have got where she is on her own,

without male assistance in any of the more obvious ways.

Of course, one myth that is easily exploded by the role played by such women leaders

is that political leadership by women is dramatically different from that by men.

Indeed, the truth is that most of our women political leaders are no better or worse

than men. What all this suggests, therefore, is that the political empowerment of

women not only still has a long way to go, but it also may not have all that much to do

with the periodic carnivals of Indian electoral democracy.

This is not to say that the electoral representation of women is unimportant, but rather

that it needs to be both deeper and wider than its current manifestation in the form of

the prominence of a few conspicuous women leaders. It is too early to say whether the

Women's Reservation Bill will serve the purpose.

Pros n cons of winning lottery

Have you ever wished that you had won the lottery? The lottery can change your life forever but it can also be changed in unexpected and drastic ways. The possibilities of what happens after you win the lottery are in your hands. You could lose your friendships and family member's trust or maybe you could be intelligent with the money you've won and create for yourself endless possibilities, one this is for sure your privacy is going to be diminished. It's all up to us and how we want to peruse the rest of our life after we won the jackpot.

When we win the lottery the first and only thing is in our mind is the money. We are so oblivious to anything else that we shut them out of our lives for a long period of time. Due to these actions we may break bonds and weaken our relationships with family members. Eventually someone that was your best friend will now be just an acquaintance. You may think that close family relationships will last forever, but this isn't always true. Even family members will begin to forget or maybe even despise, you due to the fact that all you care about is the money and not about anything else. But this doesn't have to be the case. All you have to do is recognize them for who they are and what they truly mean to you. If you truly are an money wise person than the possibilities are endless. Money doesn't buy you happiness but they might demolish any boundaries that you may have had before. This doesn't mean that you should buy a big house and a nice car and buy whatever you want; all it means is if you are smart and you don't go straight out on a shopping spree that money will last forever. If you invest and save (by not quitting your job) you can have a lifestyle without limitations and you can do whatever your heart and mind desires.

You dream of having endless possibilities which you do, after a while though when you win the lottery your life will be turned upside...

INCLUSIVE GROWTH

Indian market is the second largest consumer market in the world; the country’s economy has been facing towering economic development in current years. As a result, its responsibility in the world, both politically and economically has increased. On the other hand, it is keen that economic and social disparities across the country such as geographical, socio-economic, and cultural and gender lines have broaden in this phase. Inclusive growth, generally defined as fast development assisting every segment of society is the foremost approach of the Government of India. Inclusive growth is tremendously determined on the trend and extent of disparity, particularly about the regional inequality.Reducing poverty, improving the quality of life, and ensuring that all parts of the society benefiting from the economic growth of the country is the primary motive of an inclusive growth plan. There are various micro and macro level interference which is favourable in promoting inclusive growth. The macro

level, suggestions like better financial regulations, openness to Foreign Direct Investment, trade liberalization, tax reforms, privatization, providing social safety, reorientation of public expenses, and lawful and political reforms are helpful in leading policy negotiations for encouraging quick and inclusive growth. Where as in micro level, reducing income and non-income associated unfairness, developing infrastructure, education, healthcare, women’s empowerment, access to markets, role played by civil society organizations, accountability, and good governance can help accelerate poverty reduction.Therefore it is clear that the key levers to achieve inclusive growth is increasing the accessibility, availability, quality, and affordability of different products and services so that all part of population will have fair opportunities. To accomplish this, the private sector and the government have to work mutually, while abiding by the primary principles of a democratic society.This paper explains about the necessity to build India in inclusive manner and lay emphasis on why it is crucial to spotlight on inclusive growth at present. It elaborates the opportunities available for developing an inclusive India by recognizing the key levers in the field of education, governance, energy and resources, healthcare, infrastructure, financial inclusion, and business model innovation. It also explains some of the causes why efforts to make an Inclusive India in the earlier period have had only partial success and what can be done better in the future so that inclusive growth is achieved. The paper further stresses upon the need for the public and the private sector to work in cycle and influence each other’s potency to make inclusive growth.One of the main aims of the government in recent years is moving Incredible India to Inclusive India. Inclusive growth is to be achieved so as to reduce poverty and other social and economic inequality, and also to maintain economic growth. In respect of this, the Planning Commission have made inclusive growth as a goal in the Eleventh Five Year Plan (2007-2012). The summary of the Twelfth Five Year Plan (2012-2017) lists tactic challenges which prolong the focus on inclusive growth. These include generation of employment, enhancing the capacity for growth, development of infrastructure, better healthcare, improved access to quality education, rural transformation, and continuous agricultural growth.

Inclusive growth is essential for sustainable growth and impartial allocation of wealth. The challenge is to obtain the height of growth to all parts of the society of the country. The most excellent way to attain inclusive growth is through developing people’s skills. Ever since freedom, considerable development in India’s economic and social improvement made the nation to develop strongly in the 21st century.The following are the need for India to focus more on inclusive growth.

1. India is the 7th largest by area and 2nd by population and 12th largest economy at market exchange rate. Yet, India is away from the development.2. Low agriculture growth, low quality employment growth, low human development, rural-urban divides, gender and social inequalities, and regional disparities etc. are the problems for the nation.3. Reducing poverty and inequality and increasing economic growth are the main aim of the country through inclusive growth.4. Political leadership plays a vital role in the overall development of the country which is not sustainable.5. Corruption is one of the problems that prevent inclusive growth.6. Literacy levels have to rise to provide the skilled workforce required for higher growth.7. Accomplishment of highest GDP growth for country is one of the boosting factors which give the importance to the Inclusive Growth in India.

COTTAGE INDUSTRIES

Cottage industries have always existed in our country but they were not developed to

their full capacity during the colonial rule. The members of a family from within their

homes usually run these units. Items like leather-goods, baskets, toys, ropes etc. are

usually the products of the cottage industries. However spinning and weaving cloth is

the main cottage industry of our country. Cottage industries serve to provide farmers

with an additional income.

Cottage industries do not use big machines, electric power and horrid labour. Nor

there is the question of the exploitation of workers. The workers and his family being

both the employees and the employers they, get all the earning from their business.

Thus they are good means for providing part time employment. The farmers carry on

their cottage industries side by side with their main occupation of agriculture.

It has been often seen that in large scale industries, corruption becomes rampant.

Women and children, who get employed in these big industries, are often exploited by

their employers. Cottage industries, which are usually run on a small scale, are free

from these problems. Since these industries are mostly centralised to the homes of the

workers, hence social ills do not flourish in any form.

The workers enjoy freedom. Though they maintain a daily routine, but there is no

rigidity. They can begin and stop their work according to their convenience.

In a country like India where unemployment and poverty are serious problems, cottage

industries play a significant role in lessening the gravity of these problems. It was

therefore Mahatma Gandhi laid emphasis on reviving the dying cottage industries.

Since independence of the country, the government too has been making all possible

efforts in this direction.

But there are several difficulties in the way of cottage industries. They fail to compete

with large scale industries. The products of the cottage industries are the result of the

worker's hard labour. Hence, their price always remains high in comparison with the

goods made in factories. The workers in cottage industries are generally poor.

Sometimes they do not get sufficient raw materials as well as necessary tools out of

poverty. Thus, their work is hindered and they do not utilize their potentialities. In

such circumstances, it is essential that they should be provided facilities for marketing

finished goods. Credit facilities should also be provided to them so that the poor

workers may buy raw materials and tools for the purpose.

Cottage industries can flourish to a large extent even in this age of new machines if

they adopt modern lines. Exhibitions should be held time to. Time so that the goods

Manufactured by the cottage industries may get wonderful sale. This will surely

encourage our workers who do hard labour for us.

Our government has always given due importance to the cottage industries. A large

sum has always been allotted for their development in the various five year plans of the

country. As a result we have achieved much progress in this regard. Still much more is

needed to be done.

Before the establishment and expansion of factories, there was cottage industry in

India. Cottage industry is also known as home industry. It means the manufacturing of

goods at home by hands. For this purpose, very small capital is needed. The goods are

produced in small scale. The members of a family are involved in a cottage industry.

India is an agricultural country. Agriculture is not a strong source of income for us. So

many Indians depended upon cottage industry in past as the secondary source of

income. In the ancient days, cottage industries played an important role in the

economy of our country. Many people got employment in those cottage industries.

There was no poverty, at that time. But later on the cottage industries collapsed and

poverty was born.

Cottage industries have a lot of merits. In India, most of the farmers complete their

farming in less than six months. They spend the next six months in idle manner. They

can employ themselves and have additional income through cottage industries.

Secondly, in many families, women labour is not utilised at all.

In cottage industries, women can work and can be, self-dependent. Further, there is no

conflict between the labour and the owner. So, there is no possibility of unrest. There

is no corruption and no exploitation of the poor by the rich. The works is pleasant and

risk less. M.K. Gandhi, the father of our nation, supported the cottage industries in our

country and inspired the Indians to utilise manual labour.

In Orissa there are various types of cottage industries. These are the weaving industry,

filigree work, Leather Industries, Wood Industry. The Filigree work of Cuttack, the

sarees of typical design made in Sambalpur and Berhampur are very famous in India

and in the world too.

The weavers of Sambalpur have a good reputation in the textile market. Leather

industry is also another important cottage industry in Orissa. Madhusudan Das, the

famous lawyer and patriot, started the Utkal Tannery which produced leather shoes. In

Coastal Orissa, people make baskets, mats etc. out of bamboo and other leaves.

Now-a-days, cottage industries are breaking down for several reasons. The chief

reason is the non-availability of raw materials. Cost of labour has gone up very high.

The products of cottage industries are facing great Competition in market. In this

situation, government should look after the future of the cottage industries.

BANKS ARE THE MANUFACTURERS OF MONEY

In economics, money creation is the process by which the money supply of a country or a monetary

region (such as the Eurozone) is increased. A central bank may introduce new money into the

economy (termed 'expansionary monetary policy') by purchasing financial assets or lending money

to financial institutions. Commercial banklending also creates money under the form of demand

deposits). When banks had sizable reserve requirements (freezing an important percentage of their

deposits in mandatory reserves at the central bank) it was said that the process multiplied this base

money through fractional reserve banking.

Central banks monitor the amount of money in the economy by measuring monetary aggregates

such as M2. The effect of monetary policy on the money supply is indicated by comparing these

measurements on various dates. For example, in the United States, money supply measured as M2

grew from $6407.3bn in January 2005, to $8318.9bn in January 2009.[1

Monetary policy regulates a country's money supply, the amount of broad currency in circulation.

Almost all modern nations have special institutions (such as the United States Federal Reserve

System, the European Central Bank (ECB), and thePeople's Bank of China) for conducting monetary

policy, often acting independently of the executive. In general, these institutions are called central

banks and often have other responsibilities such as supervising the smooth operation of the financial

system.

The primary tool of monetary policy is open market operations: the central bank buys and sells

financial assets such as treasury bills, government bonds, or foreign currencies. Purchases of these

assets result in currency entering market circulation, while sales of these assets remove currency.

Usually, open market operations aim for a specific short term interest rate. In other instances, they

might instead target a specific exchange rate relative to some foreign currency, the price of gold, or

indices such as the Consumer Price Index. For example, the US Federal Reserve may target

the federal funds rate, the rate at which member banks lend to one another overnight.

Other monetary policy tools to expand the money supply include decreasing interest rates by fiat;

increasing the monetary base; and decreasing reserve requirements. Some other means

are: discount window lending (as lender of last resort); moral suasion (cajoling the behavior of

certain market players); and "open mouth operations" (publicly asserting future monetary policy).

The conduct and effects of monetary policy and the regulation of the banking system are of central

concern to monetary economics.

Through fractional reserve banking, the modern banking system expands the money supply of a

country beyond the amount initially created by the central bank.[4] There are two types of money in a

fractional-reserve banking system: currencyoriginally issued by the central bank, and bank

deposits at commercial banks:[5][6]

1. central bank money (all money created by the central bank regardless of its form, e.g.

banknotes, coins, electronic money)

2. commercial bank money (money created in the banking system through borrowing and

lending) – sometimes referred to as checkbook money[7]

When a commercial bank loan is extended, new commercial bank money is created if the loan

proceeds are issued in the form of an increase in a customer's demand deposit account (that is, an

increase in the bank's demand deposit liability owed to the customer). As a loan is paid back through

reductions in the demand deposit liabilities the bank owes to a customer, that commercial bank

money disappears from existence. Because loans are continually being issued in a normally

functioning economy, the amount of broad money in the economy remains relatively stable. Because

of this money creation process by the commercial banks, the money supply of a country is usually a

multiple larger than the money issued by the central bank; that multiple is determined by the reserve

requirements or other financial ratios (primarily the capital adequacy ratio that limits the overall credit

creation of a bank) set by the relevant banking regulators in the jurisdiction.

DOWRY DEATHS

Dowry deaths are deaths of young women who are murdered or driven to suicide by continuous harassment and torture by husbands and in-laws in an effort to extort an increased dowry

Most dowry deaths occur when the young woman, unable to bear the harassment and torture, commits suicide. Most of these suicides are by hanging, poisoning or by fire. Sometimes the woman is killed by setting herself on fire; this is known as "bride burning", and sometimes disguised as suicide or accident. Death by burning of Indian women have been more frequently attributed to dowry conflicts.[1] In dowry deaths, the groom’s family is perpetrator of murder or suicide.[2]

Short Essay on Dowry Death – Dowry started as a form of assistance to a newly married couple in

starting their married life. As the time progressed human greed turned it into something that was to

be demanded as a right in accordance with the social standing of the groom and his family.

The practice later degenerated further and brides began facing torture after marriage to bring in

additional dowry. The torture would many a time escalate into bride burning. The groom and his

family would then try to make up a story about a kitchen accident to save their skins.

Though the Dowry Prohibition Act was passed in 1961, the practice had such deep social roots that

nothing much could be done and only in few cases could the accused be actually punished primarily

because it is very difficult to prove a dowry case.

However, dowry cases have dipped in the recent future but the nightmare is far from over. Brides are

still burnt for dowry.

According to the Dowry Prohibition Act any person who gives or takes or abets the giving or taking of

dowry, shall be punished with jail or fine or both. An agreement for giving or taking of dowry is void

and cannot be enforced.

The dowry can be in any form of property or valuable security given or agreed to be given either

directly or indirectly by one party in a marriage to the other party, by the parents of either party or by

any other person, to either party or to the other person, at or before or after the marriage.

Besides the Central Dowry Act, the State Governments have enacted their own laws to deal with the

dowry problem. For instance, the Himachal Pradesh Government prohibits more than 25 people in a

marriage party while Punjab has restricted the number of meals to be served to the guests in the

marriage i.e. up to two meals.

The Indian Penal Code also punishes the bride burning, cruelty and torture to brides. Section 498A

is a strong provision in this Code. Section 198A of Criminal Procedure Code fixes the procedure for

the enforcement of such provisions. The Indian Evidence Act also provides that the accused has to

bear the burden of proof.

When a case involves a suicide by a woman within 7 years of marriage, or death of a woman within

7 years of marriage under suspicious circumstances, the court will presume that the accused is

guilty of abetment of suicide and the Magistrate can hold an enquiry on his own, apart from the

police enquiry.

State (Delhi Administration) v. Laxman Kumar, AIR 1986 SC 250 and Paniben v. State of Gujarat,

AIR 1992 SC 1817 are cases where the Supreme Court expressed its concern about the dowry

deaths and punished the culprits on the basis of the dying declaration of the victims.

SOCIALISM

Socialism is the antithesis of individualism, which gave birth, to the capitalistic system

of society. Socialism came as a countering force against the injustice and

incompetence of capitalism, which involved exploitation of peasants and workers by

those who own the instruments of production.

The advocates of Socialism regard the State as the instrument of achieving the

greatest good of the largest community. It does not minimise the importance of the

individual but seeks to subordinate the individual to the community.

Gandhiji also looks upon the state as an instrument of oppression of the common

people. It attaches importance to such liberty only as may be necessary' for the fullest

development of the personality of the individual, consistent with the total need of the

community. It thinks that the interest of the individual can be best safeguarded and

promoted by maximising the control of the State. But according to the latter, i.e. the

democrats, the above end may be secured by curtailing the functions of the State to

the lowest possible minimum. Thus, the two schools of thought differed more in their

political methods than in the legitimacy of ends.

Socialism is both an economic and a political doctrine. It seeks to abolish private

ownership of the means of production on the ground that such ownership and

management lead to social inequalities and incompetence.

Hence, the socialists want to promote the common economic, political and moral

interests of the people by replacing the present individualistic society with public

ownership and public control of the means of production and distribution. The present

order of society in the West is marked by private ownership of land, mines, factories,

railways etc. In our country, State-ownership seeks to look after developments.

Private proprietors of these use them for the purpose of making the largest amount of

profits for themselves. The decision as to what and how much to produce depends

entirely on the sole consideration of private profit, the whole of which is appropriated

by a small section of the people, .he owners. Thus under capitalism, the few roll in

riches, while the many wallow in poverty. But under socialism, the means of

production will be operated by the community through a highly democratic State-

owned machinery, with a view to securing the maximum benefit to the society.

Ownership is vested in the actual workers.

Hence, the socialist management of production will not only prevent the exploitation of

the many by the few, but it will bring into existence a new order of society where every

decision with regard to what and how much to produce will be made by considerations

of usefulness of such things to society. Each citizen will then set according to his

capacity to achieve this The State will maintain a central planning committee, which

will develop and co-ordinate the different branches of production. Thus socialism,

which grew out of the discontent among the toiling mass against the present social

system, seeks to reconstruct society economically and politically on a new basis.

But the methods of achieving this object are many and varied, and differences as to

these, have given rise to several schools of socialists, each of which prescribes

different methods for the realisation of the socialistic ends of the state.

The oldest type of socialism, which appeared for the first time in the writings of Plato,

is known as Utopian Socialism. Plato, in his Republic described the State as it ought to

be, rather than as it is. Plato's 'Republic' furnished a basis for many later socialistic

writers, notable among whom was Sir Thomas More who, in his Utopia, published in

1515, gave us the picture of an ideal state in an island of plenty where there was to be

no private property. Utopian socialism found its advocate in St. Simon of France and

Roberts Owen of England. These ardent exponents of socialism drew out novel

schemes of society for the amelioration of the condition of the poor. But all these

schemes turned out to be impracticable chimera and therefore are dubbed as Utopian.

Socialism passed from a speculative and idealist doctrine to a practical theory with

Karl Marx whose classical works—Das Capital' and 'Communist Manifesto' (with

Engles, 1848) are regarded as the Bible of socialism. According to Marx, workers

produce more than what they get as their wages from their employers. The capitalist

employers get the services of labour cheap but they sell the goods, produced by

labour, at a rate higher than the amount spent on wages and upkeep of the factory.

They appropriate this excess or surplus value by exploiting the labour as profit. Thus

profit, according to Marx, is nothing but legalised robbery. Marxian socialism,

therefore, seeks to root out this capitalistic system of production.

Marx's second proposition is based on the materialistic and dialectical interpretation of

history. This explains the practical means and process, which govern the inevitable

transition from capitalism to socialism.

Human society, according to Marx, is not static but is constantly moving towards new

order, according to the needs of new economic conditions. The entire social structure

of a country is determined largely by the material conditions of life, which is nothing

but a struggle for possession between 'the haves' and the have-nots'. As such, all social

and political history is the outcome of the conflict of economic classes, i.e. class

conflict. The existence of this class struggle is nothing new.

In every age this class-conflict gave rise to two opposing economic classes—the owners

and the toilers, the exploiters and the exploited. This class struggle will terminate only

with the over-throw of the capitalists by the workers. The feudal system based on

exploitation of labour and land slaves or serfs, was replaced by the capitalists through

Bourgeoisie Democratic Revolution. Marx, therefore, urges upon the workers the

imperative necessity of organising themselves into a powerful body with a view to

capturing power by overthrowing capitalists, the bourgeoisie. The victory of the

working class will be followed by the elimination of the capitalist class from the field of

production like the new phoenix coming out of the old bird.

A new order of classless society with industries directed by the proletariat will emerge.

In the new order of society, the guiding economic principle will be—"He who does not

work neither shall he eat'. Thus, the transition from socialism to communism is one

from 'each according to his capacity' to 'each according to his need'.

Marx's socialism has been subjected to searching criticism in recent times. His

materialistic interpretation of history is said to be a narrow view, which ignores the

importance of forces like religion, geography, and great men, all of whom have played

their part, in shaping class-conflict, and rooting out the class enemies by dictatorship

of the proletariat.

They are criticised as out and out pessimistic, and contrary to the fundamental social

nature of man. But as against these, it has been said that religion in practice has more

often than not sided with the men in power and in exploiting the working class has

usually been indifferent to fundamental human values, in their ruthless pursuit of

profit; what they have conceded is rather due to force than to religion or reason.

Orthodox economists have also criticised Marx's theory of value as fanciful and

unscientific, based on a wilful disregard of many other forces.

Socialism in practice—in former Soviet Union or in China—is also shown to be anti-

democratic and totalitarian. The latest development is that the great Soviet Socialistic

Union of Russia has broken down in 15 nation-states; China has accepted roundly

market economy and Cuba of Castro is gasping economically.

The chief danger of socialism lies in attaching too much importance to the State and

minimising the role of the individual. In a socialistic State, the individual is liable to be

considered merely a unit of the State, a cog in the machine and without initiative or

freedom of action of its own. Such denial of freedom of thought and action to the

individual will remove one of the principal stumuli to progress and reduce man to the

position of a machine. The achievements of Russia in the fields of arts and sciences,

however, seem to make such criticism as prejudiced.

Within the unit of commune the creative urge of the individual has its due place and

recognition.

In spite of hostile criticism, socialistic ideals have captured the imagination of the

people, and States, which functioned so long on capitalistic basis, are being obliged to

concede to the Socialist pattern. Britain under the rule of the Labour Party took up the

policy of gradually socialising basic industries, though, later on, the tide has been

reversed. The reason for this is not far to seek.

Socialism as a doctrine, which is based on the claim of the many for recognition of

their inherent rights against the unjust privileges of the few. It has rendered a valuable

service by not only bringing into prominence but also by driving into public

consciousness the evils that came in the wake of the modern industrial system. It is

being recognised that political democracy without its economic counterpart is

meaningless, and a socialist programme is needed for the success of democracy.

Socialism stands not for any particular interest, but aims at promoting the interest of

the entire community by socialising the means of productions, distribution and

exchange. It therefore helps secure the emancipation of labour from the domination of

capitalism and landlordism, and the establishment of social and economic equality of

the sexes. Socialism is, therefore, based on altruistic and moral principles in as much

as it seeks to establish a regime in which no one is excluded but everyone is given an

opportunity to reach his best self, fullest stature, in which the governing principle of

life -'Live and let live'.

RURAL BANKING

Since ages past the average Indian farmer has been living under heavy debts. He is born under

debts, lives in debts, dies in debts and leaves debts for his heirs. The basic reason of his endless

debts is the ancestral obligations; which are regarded sacred and paid till his last breath. The heavy

expenditure at social functions, deaths and marriages force him to be down under the feet of

traditional moneylender who had been exploiting him by charging high rates of interest. The farmers

who fall once into the hands of the moneylender are never debt free.

In the whole country a network of co-operative societies was spread but the entire needs of rural

people could not be satisfied. They also adversely affected them because of corruption, favouritism

and inefficiency.

Hence the establishment of Rural Banks was defined as “To fulfill the aims of institutionalising the

credit structure and enhancing its area and coverage.” Establishment of co-operative societies was

no doubt a relief to the poor. But they could not meet the entire needs of the rural people. They could

provide little service to the community because of corruption, nepotism and inefficiency which

infected them. They were, however, able to make a dent and moneylenders share in the total

lending came down to 40% in 1960-62 from 70% in 1951-52.

14 leading banks of the country were nationalised in 1969. The object was to give banking facilities

to the neglected sections of the society specially the poor farmers, landless labourers and artisans.

The nationalised banks expanded their branches in rural areas. Despite this a large number of

people were still left uncovered and unfacilitated.

The aim’s and objects of Rural Banks are as follows :

1. These banks will provide credits to rural population to make it more productive and raise the level

of life.

2. They will identify the credit needs of each region to regulate productivity and avoid wastefulness.

3. The banks will help eradication of poverty and eliminate the financial constraints that mar the

progress of poor farmers and artisans.

4. These banks will combine the better features of both the systems of commercial banks and the

co-operative societies avoiding inabilities that are present in them.

5. They will also enhance the membership of primary societies and expand it substantially.

6. They will develop the tendency to repay regularly the government loans. The proper climate for

recovery of loans will be created and nonpayments will be discouraged.

7. The rural banks will also help rural industries, animal husbandries, poultries and fishery.

These banks will evolve an economic structure of rural India to make the use of the fruits of science

and technology as their motto is “Banks exist for the people and not people for the banks.”

The government has contributed 15% of the initial capital and 15% is proposed to be raised from the

local people. But this idea was dropped. The transactions of these banks will be made in the regional

languages so as to make them truly people’s banks.

Rural banks have been established to meet the needs of the weaker sections of society. It will

eliminate rural indebtedness. It will save the rural population from the clutches of the clever

moneylenders. It will also promote economic development by providing the much needed funds to

marginal and poor farmers. The possibilities of lack of funds to start small-scale industries will be

eliminated. Easy loans will be provided to them on low rates of interests without having substantial

securities. The bank staff will specially be made rural minded so that the villagers may not feel

reluctant to partonise these banks. The efforts will be made to form banking habits in villagers.

EFFECT OF CHANGES OF INTEREST RATES AND INFLATION

The impact of the change interest rates and inflation has a persistent impact on the well being of any given society. For this purpose it is the understanding that each individual in society should have an understanding of what such changes bring fourth for the man on the street. In this introduction, we are going to introduce certain key points to remember when dealing with interest rate- and inflation changes.

Inflation is a sustained increase in the general level of prices for goods and services When inflation goes up, there is a drop in purchasing power of money Variations on inflation include deflation, hyper inflation and stagflation The cause of inflation is defined in two theories namely Demand-pull inflation and Cost-push inflation When there is anticipated inflation, creditors and people earning a fixed income loose, costs goes up - people are less likely to spend money and exporting of goods drop The lack of inflation (or deflation) is also not necessarily a good thing Inflation is measured with a price index

Price Indexes are categorized as Consumer Price Index and Producer Price Index Interest rate changes are decided by the Central Bank in South Africa and enforced by Bank of Namibia In the long run, stocks are good protection against inflation Inflation is a serious problem for fixed income investors

Inflation-indexed securities offer protection against inflation, but offer low returns.

Taking into consideration the key points to remember, one can now safely define what interest rates and inflation means:

# Interest Rate:A rate which is charged or paid for the use of money. An interest rate is often expressed as an annual percentage of the principal. It is calculated by dividing the...

INTERNET BANKING

One of the main reasons that people decide to begin using Internet banking over regular banking is in reference to convenience. Everybody wants methods that are going to save them time and make daily tasks easier on them, and that is exactly what Internet banking does.

Internet banking was introduced in the early 80s. Many people have started availing to its facilities. Now, one does not have to wait in long queues at the bank nor to pay bills at some shopping center and Non of us want to stand in the queue for hours and hours also.

You can notify the bank of your change of address directly over the computer . Many other services that you would typically have to pay for are free as well when you complete them online with Internet banking, and this is primarily due to the fact that by completing Internet banking services you are saving the bank from having to use bank tellers, or manpower, to do the work for you.

The best thing about Internet banking is that it is fast and is available to a person in any part of the world, at anytime he or she needs it.

I have written this article only because to share my Internet Banking experience with all DSPian . Almost I have used maximum internet money related activities and sensed much more comfort. From money transfer to money deposit through ATM (available in few banks in Durgapur), I realized that it has become necessary to tell all in and outs of the internet banking facts. For last five year I never stood at teller window of any bank or any financial institution except extreme face-to-face requirement of the bank.

What can be done by online banking:

1. Money transfer from one account to another account of same bank.

2. Money transfer from one account of a bank to another account of other bank. This is also known as NEFT OR RTGS .

[**NEFT - The acronym “NEFT” stands for National Electronic Funds Transfer. Funds are transferred to the credit account with the other participating Bank using RBI's NEFT service. RBI acts as the service provider and transfers the credit to the other bank's account.

RTGS –The acronym “RTGS” stands for Real Time Gross Settlement. The RTGS system facilitates transfer of funds from accounts in one bank to another on a “realtime” and on “gross settlement” basis. The RTGS system is the fastest possible inter bank money transfer facility available through secure banking channels in India. ]

3. Rail ticket booking on www.irctc.co.in

4. Equity (Share), mutual fund, and IPO purchasing.

5. Hotel booking.

6. Online PPF deposit electronically if the PPF account is in the same branch.

7. Fixed Deposit , Recurring deposit, Term Deposit, Demand Draft making can be controlled with your finger tips round the clock.

8. Account statement checking round the clock.

9. Mobile recharging. Prepaid or Postpaid.

10. Insurance premium payment.

11. Status of the insurance can be viewed any time round the clock.

12. Electronic product like music , ebooks etc can be bought .

13. NSTSE (National Science Talent Search Examination ) form filling and its payment can be done in a minute.

14. Job form filling and its payment if any.

15. Tax payment.

16. News paper advertising payment.

And many more services can be availed. I can’t mentioned all . I have mentioned the above point only because we generally need these types of services.

System needed for internet banking (My recommendation as per my experience):

1. A computer.

2. Internet connectivity.

3. Original Operating System.( e.g. XP PROFESIONAL ).

4. Original Antivirus, Not a free version.

SECURITy  DETAIL :

Before going ahead I want to clear one thing that Indian banks are paying biggest priority on the security issue. The security issue is equally matters for the customer and the bank. I feel they are doing extraordinary innovation to give better and better service to the customer.

I feel , It is the only gift of electronic banking which had boosted Indian economy at faster rate than any other economy in the world. It is because of the acceptance and great know how of electronic media of Indian educated person.

Password:

Tell no one your password or other confidential information unless you are sure of their identity. Hackers sometimes impersonate technical support workers or others over the phone to obtain private information

Keep your password out of plain sight in your work area.It is better to maintain password in a diary.

Select a password that is hard to guess; avoid social security numbers, birth dates, PINs, or other obvious choices.

Never use your banking in cyber café, unless you know the machine physically and electronically.

Don’t allow all to use your computer. Make your computer personal if you use internet banking.

When your computer prompt to save password. Never give “yes” option. Always opt for “NO” or “NEVER”.

Make sure your browser supports secure transactions using up-to-date security features like encryption.

Take advantage of security and virus protection software that protects your computer from intrusion. (Intrution means act of coming uninvited or unwanted.)

When you walk away from your PC, turn it off, or turn on the screensaver password feature.

Good passwords are unique. Try using capitalization, non-letter characters, and other symbols with significance only to you. Instead of "carrot," for example, use"caRrOt8." Also, be sure to change your password periodically. Another example G?|1k<&L3/0(f .This password will be rated as Strong.Use all security measures provided by your bank. Banks in India are providing various security and security measure is their top priority. Almost all the banks in India providing world’s most security feature of 128 bit encryption and SSL. If you don’t know about the security features available in your bank then ask your bank managers about all security steps.

FOR BeGINnERS  MY RECCOMENDATION:

For learning Internet Banking, open an account with internet feature enabled. Keep minimum required fund for which amount you are scaling your risk at safe level. As the saving deposit amount is minimum therefore your risk is also minimum. This is only for reducing mental fear of beginners. Actually nothing is of fear but I am mentioning

these things only to achieve experience with mental comfort. Now you can feel relax because your main bank account is safe. Suppose you want to transfer fund to your relative/ son / or others who is at another place ( far from you) you can drop one cheque to your internet enabled bank and transfer the fund.By doing this you will acquire more experience and at one day you can keep bigger amount in your a/c and will become proficient with online system.

GROWTH OF BANKING INDUSTRY

The world’s second largest populated country, India, is the apple of the eye for the world now. The

world economies are seeing it as their potential market. This has been going on since quite some

time now, ever since 1991 reforms of liberalization, globalization and privatization. Indian markets in

urban areas have grown appreciably and are on the verge of saturation, so corporates have started

tapping rural markets, since more than 60 per cent of India’s population lives in rural areas.

During this global meltdown and fall of exports, if the Fast Moving Consumer Goods (FMCG) sector

has been able to show rising quarterly growths, it is because of the Rural Markets and their rising

spending power, which have not been affected by this meltdown. If we look at the strategies followed

by Rural Marketers in the FMCG sector, it is to sell many small sachets of Rs. 2 shampoo pouches,

Rs. 5 Maggi packs and the Rs. 5 chota Pepsi, because here, the strength lies in volume sale,

considering the large consumer base in these rural markets which won’t spend altogether at once on

buying large family packs of 500ml shampoo or super saver packs of Maggi or a Pepsi pet bottle of 2

litres.

Therefore, consumption trends followed by the rural Indian are considered to be the driver of future

growth of companies. And this trend of tapping rural markets is visible across all sectors now, be it

FMCG, IT, Banking, education etc. For example, today, India is in better state than China because

our GDP is less dependent on exports as compared to them, where maximum revenues come from

exporting to the European and US markets. Thus, tapping the rural markets is most important for us

to be a self sustaining economy.

India has been considerably shielded from the global recession. Firstly, we are not very dependent

on the exports for our GDP and have a good consumer base in India. Secondly, we are a saving

prone economy, unlike western economies which are consumption prone. Thirdly, when banks

across the world are falling like a pyramid of playing cards; we are safe, steady and strong, with our

banks which have acted like a strong backbone of our economy during present turmoil. And just like

thr FMCG sector, there is tremendous growth potential in the banking sector, because firstly, the

rural masses have the habit of saving and spending only when needed. Secondly, their small credit

requirements for agriculture, cottage industry and marriages etc.

According to researches carried out by the Reserve Bank of India (RBI), on an all India basis, 59 per

cent of the adult population in the country has bank accounts and 41 per cent don’t. In rural areas,

the coverage of banks is 39 per cent, against 60 per cent in urban areas. There is only one bank for

a population of13000.

Tapping the rural market by banks becomes all the more important, not only for the banking sector,

but all other industrial sectors as well. If there is growth in the banking sector, it benefits the other

sectors as well. By this, it is meant that in this sector, the trickledown theory of economic growth or

top down approach works, if we keep the banks at the apex in India Inc. Reasons being, as banks

promote savings in the economy, they speed up the capital formation and then become the source

of finance of trade and credit for the industry. Then they provide credit to enable entrepreneurs in

their ventures, which promotes production and employment. This production and employment

generates income and consumption and supply and demand, by increasing the spending power of

people. And a sum total of all these reduces poverty and better life styles.

But the problem is that banks have not been able to reach a vast majority of the rural population; the

rural poor have limited access to organized, affordable and transparent financial services such as

savings, loans, remittances and insurance services etc. It is important for them to have access to

banking services, especially credit and insurance, to enlarge livelihood opportunities and to

empower themselves to take charge of their lives.

The unorganized sector of lending is believed to be acting as a problem to the growth impetus in

these sectors. In several villages, farmers still go to traditional money lenders like zamindars for

meager sums of a few hundred or thousand rupees and get into debt trap for their whole lives. As a

result, farmer suicides, bonded labor, naxalism and political and social unrest and on top of it, poor

financial management, which if had been done smartly would have helped in economic growth of

their own self and economy.

Project Financial Literacy of the RBI is one such initiative of dual purpose. First, financial inclusion of

the rural poor and second, to tap the growth potential in rural markets by volume growth for banks

through edutainment (education +entertainment).Its objective is to disseminate information about the

central bank and general banking concepts to various target groups like children, women, self help

groups etc., using development communication and increasing the habit of saving in rural poor.

Because if in an economy, saving is more than 30% for 7 consecutive years, the GDP doubles and

India can’t ignore the rural sector to increase our savings

An improved rural banking under the umbrella of the RBI by the means of mobile banking, self help

groups and microfinance institutions is important. The effective use of development communication,

using Information and Communication Technology (ICT) will help to create awareness for financial

inclusion through banks and make it a success.

Here, it is important to use technology as an enabler via mobile banking, because large numbers of

Indians are using mobile phones. Using mobile phones for banking operations will cut costs by

branchless banking, as there is no need for physical infrastructure and human resources, which is a

problem in rural areas and a major constraint in carrying out banking operations. It will also make it

convenient, safe, reliable and transparent.

With above initiatives and reaching out to women, self help groups, and microfinance institutions, the

banks will not only be able to reach out to half of the population of India that is women, but as these

changes expand access to financial services for the low income segment and rural masses, the

effects can be measured in many ways, not just in the volume of GDP growth, but new jobs and

income generations, greater personal safety for women, better education for their children, timelier

health care for themselves and their empowerment

Thus, future development of India and the growth of India Inc. lies in financial inclusion, by tapping

the rural markets through banks. This will not only help corporates in fulfilling their social

responsibilities, but is important for fuelling growth in other industries and to keep the economy

growing and moving. Truly, there are fortunes at the bottom of the pyramid.

INVESTMENT BANKING

The intensely competitive, action-oriented, profit-hungry world of investment banking can seem like a bigger-than-life place where deals are done and fortunes are made. Investment bank includes but is not limited to bringing an established company to the market, by that I mean taking company with the capabilities but not capital of expanding, and raising money through other investors or the stock market (IPO) for a commission, I chose this field because of my personal experience with my father and his company, I've seen him go from starting off as a cold calling broker, to running a brokerage firm, to starting a brokerage firm, all the way to having his own investment firm. I feel like I would do better with jobs where you set your own hours and work at your own pace. A lot of the work is commission based so the more your work the more you make, this would also benefit me because it would drive me to work more, money is my motivation. To be hired you will need good people and communication skills, highly analytical skills, high ability to synthesize and high creative ability. You will also need experience in modeling, valuing companies, and financial accounting.

Accounting

If you don't have a deep background in accounting, but if you are strong in math, then don't worry, you'll be able to pick it up fast enough once you're on the job. If you do have a background in accounting, then it gives you a nice edge. Corporate Finance

Corporate finance is different than accounting in that corporate finance relates to valuation and financing decisions. The purpose of accounting is to create statements that lay out the historical financial health of a company for management and investors. The purpose of corporate finance is to apply the results of these statements (along with intangibles such as the strength of the industry and the management team) to a valuation model in order to arrive at a value for the company....

IMPORTANCE OF SAVING ENERGY

From the time you wake up to the time you go to sleep at night, energy has affected your life. Energy is important in everyone's life, whether you notice it or not. Without it people would have a harder time waking up and an even harder time getting anywhere. Energy is important whether it's solar energy, mechanical energy, nuclear power, or the energy your body makes that allows you to talk, move, and walk. These are the tasks that we normally do that involve energy, and that we couldn't do with out it.

You wake up to the sound of your alarm clock, in a nice warm home. Energy is important to heat our homes, and most houses have gas, oil or electric heaters. The mechanical energy in a wind up alarm or electric energy in a battery or plug in alarm is important to wake you up.

Energy is needed to heat water, which is used when you take a shower or wash your face in the morning. Just imagine washing your face or taking a shower with ice cold water in the winter. It would be bad. If you brush your teeth with an electric toothbrush, then energy allows your teeth to be clean. Energy even effects when you put on fresh clothes in the morning. Your clothing were probably made in a factory, which was powered by electricity. They may have been washed in an electric washing machine with heated water, and dried in a gas or electric dryer, or dried outside in the sun using solar energy. Almost all the things we use everyday could not be made or used without energy.

Next you may eat breakfast. If you had pancakes or anything cooked, energy from your stove or microwave cooked your breakfast. Now imagine never being able to eat food cooked on a stove. You dinner and lunch couldn't be warm or cooked and would get boring.

Next you will go to school, which involves energy getting there. If you get a ride to school in either a school bus or a car, gasoline is used to power the car. You will probably pass a traffic

Technology development affecting banking industry

Twenty years ago, a bank was the building you visited to make a deposit or withdrawal. Its towering marble columns brought to mind the ancient wisdom and

stability of Rome or Athens. But if you walk the streets of Rome or Athens today, you see that the Coliseum and the Parthenon have crumbled with the inundations of successive societies . The more traditional notion of a bank also crumbles, in large part due to the pounding waves of modern technology. But rather than being left as a monument to the past, the banking industry seeks to be rebuilt through this same technology which washes it away.

The dissemination of technology into society has enabled various financial-services companies or divisions of companies to lure customers from banks. Banks have lost much of the auto loan market to Ford, General Motors, and other members of the auto industry. AT&T has become one of the larger players in the recently expanded credit card market. Employee credit unions are now a significant player in consumer banking.

Despite losses in their traditional roles, banks are facing new opportunities and markets created by technological developments. Three significant areas of development--Imaging Technology, Electronic Data Transfer (EDT), and Smart Cards and virtual banking--work individually and together to transform banking's role and appearance in society.

Imaging Technology (Electronic Check Presentment)

Physical transfer of paper checks between retailers and banks, and between banks, limits this payment's potential effectiveness. Check-fraud risk, whether due to insufficient funds or actual fraudulent checks, has been a significant expense faced by banks and retail businesses. In addition, handling costs and lost interest resulting from the transference were also noteworthy expenses. Electronic Check Placement (ECP) was developed to combat fraud initially, but it has also had a major impact on the other two costs.

ECP separates the payment information on the check from the actual paper document. A depositing bank uses the Magnetic Inc Character Recognition (MICR) from the check to identify and transmit payment information to the paying bank. The paying bank can then notify the depositing bank which checks are "fraudulent," nipping the fraudulent process at an early stage, which also helps reduce handling costs. Funds need no longer be withheld until the paper document is transferred: interest can be earned by the depositing bank from the moment of electronic transfer. Plus, EPC enables fewer errors that result from miscalculations and fewer mistakes made in transference of information.

As powerful the effects of ECP may be, imaging technology opens further opportunities through its elimination of and consolidation of paper documents.

Signatures, handwritten payment information, and MICR information can be transferred "visually," preventing a significant amount of fraud, and saving paper and handling costs. But this is only the beginning of the changes that imaging offers. The greatest opportunity lies in integration of all of the documents related to a customer on a single database. Not only will this reduce the material and storage and retrieval costs associated with paper documents, but it will allow banks to serve customers more quickly and more efficiently.

Electronic Data Transfer

Closely related to ECP and Imaging is Electronic Data Interchange (EDI). EDI is a process where by companies can make electronic payments directly, without a human interface. Transactions are sped up, and many of the same benefits as are under ECP and Imaging are realized, including reduced error and reduced handling costs. Labor costs can be significantly reduced because fewer people are needed to process the bank's daily business transactions.

Banks will be able to charge firms (and other banks) fees for EDT service. As EDT service is expanded into new areas, rather than merely replacing other forms of bank-managed payment, its fees will help to strengthen banks' financial position. Many banks have suffered large financial losses in recent years due to fluctuations in the interest rates. Because of this, Banks have been moving away from interest-sensitive income, and more toward fee income like that generated by EDT services.

Smart Cards and Virtual Banking

The proliferation of ATMs and the potential of Internet banking services move banking from the columned buildings of Main Street to virtually anywhere. To date, the lack of a safe, effective payment system has kept virtual banking from spreading at an even faster rate, but Smart Cards may change that. Smart Cards are credit-card-sized plastic cards with a microprocessor chip. These cards can hold and release a stored amount of money, and they can access or manipulate information or cash.

Not only can this technology improve customer service through more timely and more flexible service (note how technology has helped shift the definition of "service" from a personal interaction to a specific manipulation or a degree of accessibility), but Smart Cards can generate new revenues for banks. The credit card presently serves customers over a wide range of transactions: it can be used to purchase durable and non-durable goods, entertainment, and long-distance communication, for example. Along with this wide-spread use, however, comes the constant threat of credit card fraud, either through stolen cards or card numbers, or through a customer's overcharging with a card and not paying off the balance. Smart cards improve on the

credit card by diminishing the threat of fraud and by allowing an even wider range of use for the card. A Personal Identification Number (PIN) associated with a Smart Card can help prevent someone other than the intended user from using the card. In addition, since Smart Cards either contain or directly access a "cash" balance instead of purchasing on credit, customers are less likely to overcharge with the cards.

Besides reducing fraud, Smart Cards provide other opportunities for use. They expand the range of transactions to include financial services such as securities market manipulations, mortgage and loan payments, and insurance transactions. This secure method of payment opens greater opportunities for information and payment interactions across the Internet (which helps to further increase/disintegrate the bounds of the bank). The cards can hold encryption and authorization data to be used as access keys into information in businesses, on (new-and-improved) ATMs, and across the Internet. The microprocessors will allow Cards to hold 32K of memory within the next two years. This will enable them to be used as information managers by linking payment systems together with a wealth of personal records and outside sources of information.

Possibly the greatest advantage that Smart-card technology provides to banks is this wider range of society's transactions in which the bank can participate. As Smart Cards replace cash, credit cards, and many of the check purchases, banks can earn fees on a greater percentage of society's transactions. Banks can be in a stronger income-producing position than even the IRS in that it will immediately collect its taxes/fees at the point of sale, and it will collect taxes/fees on transactions that even the IRS does not collect on [e.g., tax-free purchases like milk and meat and Oreo cookies(!)]. As was previously mentioned, with banks looking to secure themselves from interest-rate fluctuations, fee-based income such as those generated by Smart Cards are especially desired.

Technology's Shift of Banking

Even stronger than the individual effects of various technologies on the banking industry will be their combined effect. Just as the face of banking is changing, so is its core business shifting. Traditionally, banking has been in the financial services business; and more precisely, it has been in the saving and loan business (to put it coarsely). Changes in technology and the competitive environment, combines with changes in the regulatory environment, are widening banking's financial focus to include securities investments and insurance services. But of even greater impact may be banking's shift toward being an information processor.

Imaging Technology, EDI, Smart Cards (with the Internet), and other technological advances place banks in the position of being producer, organizer, and disseminator of

information in society. Not only can the banking industry determine access to and payment for information and information processing, but banks can move more into the consulting business. A bank can work with an individual firm (or an industry) to develop an information, payment, and financing system most appropriate for the business. For example, a bank could work with a hospital to develop an electronic filing system that would use imaging technology to coordinate "images" of handwritten prescriptions and doctor's notes, medical reports, billing records, and patient identification information. An EDI system could be set up to speed billing between the hospital and insurance companies (and their respective bank accounts). Smart Card technology could allow quick identification of patients' health data and payment information; plus, it could be used to allow medical personnel (and patients) quality access to personal financial information.

This shift in core concentration also posses the danger of banks lacking a central focus because they are pulled between the financing and the information-processing directives. Changes in society have placed banking on the crest of the technological wave, leaving banks to negotiate the wave, to determine what role they will play in the next generation.

Development Of Mobile Internet Banking Systems Information Technology EssayThe last time that technology had a major impact in helping banks service their customers was with the introduction of the Internet banking. Internet Banking helped give the customer's anytime access to their banks. Customer's could check out their account details, get their bank statements, perform transactions like transferring money to other accounts and pay their bills sitting in the comfort of their homes and offices.The internet and the mobile phone - two technological advancements that have profoundly affected human behavior in the last decade - have started to converge. The products of this association are mobile data services. Using a variety of platforms, services are being created to enable mobile devices to perform many activities of the traditional internet, albeit in a reduced format for mobile devices. One area of activity is mobile (m-) banking (one of the first areas of commercial transaction on the wireless internet). Banking is an area that has extended in many different ways in recent years, including telephone and online banking. M-banking provides yet another channel for banking services, and in emerging markets, provides some possibility for becoming a primary channel.

The rapid development of information technology has affected the banking industry globally. An impact of information technology in the banking sector is the introduction of mobile banking. Mobile banking is a subset of electronic banking which underlies not only the determinants of the banking business but also the special conditions of mobile commerce. The main aim of this project is to develop a secure internet mobile system, which allow customer to do their banking services like get balance inquiry, Fund Transaction, Issue Cheque and other services via the internet and mobile SMS.A bank is an institution that provides financial services to consumers, businesses, and governments. One major type of bank is the commercial bank, which has fewer restrictions on its services than other types of banks. Commercial banks profit by taking deposits from customers, for which the banks typically pay a relatively low rate of interest, and lending the deposits at a higher rate of interest to borrowers. These borrowers may be individuals purchasing homes, cars, and other items or they may be businesses financing working capital needs, equipment purchases, etc. Banks may also generate revenue from services such as asset management, investment sales, and mortgage loan maintenance.When people are hard pressed for time, the need for "anytime anywhere" banking gains utmost importance. Bearing this in mind, banks provide a novel service, which gives retail customers account information and real-time transaction capabilities from their cell phones. This project aims at creation of a secure Internet and SMS Banking System. This will be accessible to all customers who have a valid User Id and Password. This system provides the following facilitiesA user subscribing to a wireless carrier sends an SMS with a predefined code to the GSM Modem, which is connected to central Server service has a cell phone provider’s predefined number. The service provider forwards this message to the bank’s mobile banking applications. The mobile banking applications interface with the core banking servers (that contain the user account information) that service the request made by the user. The response is then sent by the mobile banking applications to the bulk service provider who in turn forward it to the valid user via SMS

Objectives:1To perform a literature review and information gathering for problem statement and the solution for banking organizations. To produce a Preliminary Investigation Report based on this study.

2To overcome the problems of the various current bank transaction and provide solution with the above analysis. To produce a scope and limitations for the functionalities of the SMS Banking.3To investigate and study the technology of SMS Banking and analyze the best tools to be used for the proposed system. To produce a report on different technologies used for secure banking transaction and possible technologies to be implemented.4To investigate and gather requirements for the system using appropriate fact finding methods. To document a report on the fact finding methods and the requirements gathered.5To analyze the scope and constraints of the proposed system and to define the necessary specifications or features that are required. To produce a feasibility report and the features that are required to develop the proposed system.6To identify appropriate development language, Mobile technology implementation and databases to analyze the best language as well as the database to be implemented in the system. To study different programming languages and databases for implementing the final system.7To design methods and alternative solutions for the proposed system. To produce a UML design and structure the identified solution for the final system.8To develop and produce a prototype of the proposed system with the information gathered from the earlier stages. To produce a report on the interface structure of the final system based on the requirements.9To develop a fully functional system according to the specification. To generate coding to construct the system.10To conduct an evaluation with potential users, validate and verify that the system is implemented according to the specifications. To test the system according to the testing plan and generate a report on the evaluation

12 five year plan-2012-2017Best actress award in 85th academy awards-jennifer Lawrence

EMV-euro pay master,visaPresent China premier-xi jinpingTata is associated with which airlines-air asiaCaptain of Australia team played in march-Bse is now known as-The rate below no bank can provide loan-Small and medium savings concerned with-Dsa works quality depends on –Mulya yojit seva means-Work after sale is-Playing to win book written by-Person awarded in Bangladesh md yunus due to-The currency of European union is-Central bank provide sbi-1. Whose is the Captain of Australian Cricket Team Which Currently (March 2013) visited India?

(1)Michael Clarke       2) Shane Watson     3) Shane Warne    4) Michael Hussey      5) Ricky Pointing

2. Government, as part of Recapitalization plan, Infused capital in State Bank of India recently, Indicate the

approximate capital Infusion.

1)500Cr.                      2)1,000 Cr.                  3) 1,500 Cr.      4)2,000 Cr.                 5)3,000 Cr.

3. The NRIs while investing in the equity of a Company cannot Buy more than a prescribed percentage of the

paid up capital of that company. What is the prescribed percentage?

1)2%                            2)3%                            3) 4%               4) 5%                           5)6%

4. Every Year March 20 is celebrated as what day?

1) World Sparrow Day                       2) International Women’s Day    3) World Cuckoo Day

4) International Children’s Day          5) International Mother’s Day

5. One of the famous Indian Sports persons released his/her autobiography ‘Playing to Win’ in November

2012.Name the Sports person correctly.

1) Saina Newhal    2) Mary Kom       3)Yuraj Singh     4) Sachin Tendulkar   5) Sushil Kumar

6. Which of the following terms is associated with the game of Cricket?

1) Bouncer                  2) Love            3) Goal            4) Mid-Court               5) Collision

7. Who is the author of the Book ‘Wome of Vision’?

1) Ravinder Singh     2) Peerti Shenoy     3) Amshi Tripathi     4) Durjoy Dutta    5) Alam Srinivas

8. Prof.Muhammad Yunus, the recipient of the Nobel Peace Prize 2006,is the exponent of which of the

following concepts in the field of banking?

1) Core Banking          2) Micro Credit    3) Retail Banking    4) Real Time Gross Settlement   5) Internet

Banking

9. Invisible export means export of

1) Services      2) Prohibited goods    3) Restricted goods    4) Goods as per OGL list   

5) Other than those given as options

10. The European Union has adopted which of the following as a common currency?

1) Dollar          2) Dinar                       3) Yen                         4) Euro            5) Peso

11. Bank in India is required to maintain a portion on of their demand and time Liabilities with the Reserve

Bank of India. This Portion is called.

1) Reverse Repo                                  2) Cash Reverse Ratio            3) Bank Deposit               

4) Statutory Liquidity Ratio               5) Government Securities

12. Pre-shipment finance is provided by the banks only to

1) Credit card Holders                        2) Students aspiring for further studies

3) Brokers in equity market                4) Village Artisans                  5) Exporters

13. Banking Ombudsman is appointed by

1) Government of India                      2) State Governments             3) RBI                                            

4)ECGC                                              5)Exim Bank

14. Holidays for the Banks are declared as per

1) Reserve Bank Act                           2) Bank Regulation Act          3) Negotiable Instrument Act

4) Securities and Exchange Board of India Act                                 5) Companies Act

15. Interest on Savings deposit nowadays is

1) Fixed by the RBI                          2) Fixed by the respective Banks

3) Fixed by the depoisters

4) Fixed as per the contract between the Bank and the Consumer Court

5) Not paid by the Bank

16. Interest below which a bank is not expected to lend to customers is known as

1) Deposit Rate       2) Base Rate             3) Bank Rate         4) Prime Lending Rate

5) Discount Rate

17. The Customers by opening and investing in the Tax Saver Deposit Account Scheme in a Bank would get

benefit under

1) Sales Tax       2)   Customs Duty         3) Excise Duty                  4) Professional Tax         5) Income Tax

18. In the Banking Business, when the borrowers avail a Term Loan, initially they are given a repayment

holiday and this is referred as

1) Subsidy            2) Interest Waiver            3) Re-Phasing        4) Interest Concession     5) Moratorium

119. One of the IT companies from India has become the first Indian company to trade on NYSE Euronext

London and Paris Markets from February 2013 onwards. Which is this company?

1) Wipro Infotech Ltd.

2) L & T Infotech.

3) HCL Technologies Ltd.

4) Infosys Technologies Ltd.

5) Polaris Financial Technology Ltd.

20. BSE(Bombay Stock Exchange),the oldest stock exchange in Asia, has joined the hands with one more

international  index in February 2013.This association has resulted in change of name of BSE Index. What is

the change of name affected?

1) Dow Jones BSE Index                  2) NASDAQ BSE Index

3) S& P BSE Index                             4) Euronext BSE Index

5) Other than those given as options

21.A non-performing asset is

1) Money at call and short notice                   2) An asset at cease to generate income

3) Cash balance in till                                    4) Cash balance with RBI

5) Balance with other banks

22. RBI released its guidelines for entry of new banks in the private sector in the month of February 2013.One

of the norms is at least a prescribed percentage of branches of a new bank should be set up in unbanked rural

centers with a population up to 9,999. What is the percentage of such branches prescribed in the norms?

1)10%       2) 15%           3) 18%        4) 25%      5) other than those given as option

23. The Union Budget of 2013-14 proposed by the Finance minister on February 28 th 2013 announced

introduction of a new variety of bonds by the Government. What is the name of those bonds?

1) Deep Discount Bonds                    2) Zero Coupon bonds                        3) Bullet Bonds                               

4) Inflation Indexed Bonds                5) Inflation Variation Bonds

24. Government usually classifies its expenditure in terms of planned and non-planned expenditure. Identify

which is the correct definition of planned expenditure.

1) It represents the expenditure of all the State Governments.

2) It represents the total expenditure or the Central Government.

3) It is the expenditure which is spent through centrally sponsored programmes and flagship schemes of the

Government.

4) It represents the expenditure incurred on Defense.

5) Other than those given as options

25. Which of the following organizations is made specifically responsible for empowering Micro, Small,

Medium enterprises in India?

1) NABARD          2) RBI           3) SIDBI          4) ECGC       5) SEBI

26.”C” in CPU denotes

1) Central            2) Common            3) Convenient             4) Computer      5) Circuitry

27. A joystick is primarily used to/for

1) Print Text                     2) Computer gaming              3) Enter Text

4) Draw Pictures              5) Control Sound on the Screen

28. Which is not a Storage device?

1) CD                          2) DVD             3) Floppy Disk       4) Printer            5) Hard disk

29. Which of the following uses a handheld operating system?

1) A Super Computer                          2) A Personal Computer

3) A Laptop                                           4) A Mainframe                   5) A PDA

130. To the display the contents of a folder in Windows Explorer you should

1) Click on it             2) Collapse it                       3) name it 

4) give it a password                      5) rename it

31. The CPU Comprises of Control, Memory and ——-units

1) Microprocessor                             2) Arthimetic/Logic

3) Output                                            4) ROM                              5) Input

32. —————— is the most important /powerful computer in atypical network.

1) Desktop                           2) Network Client              3) Network Server

4) Network station             5) Network Switch.

33. A(n)————– appearing on a web page opens another document  when clicked.

1) Anchor                 2) URL               3) Hyperlink                   4) reference           5) heading

34. Which of the following refers to the rectangular area for displaying information and running programes?

1) Desktop                     2) Dialog box                      3) Menu                 4) Window         5) Icon

35. ————is a Windows Utility programme that locates and eliminates unnecessary fragments and

rearranges files and unused disk space to optimize operations.

1) Back Space                       2) Disk cleanup                3) Disk Defragmenter                4) Restore

5) Disk Restorer

36. Which of the following refers to too much electricity and may cause a voltage surge?

1) Anamly                         2) Shock                        3) Spike                       4) Virus               5) Splash

37. The Software that is used to create a text based documents are referred to as

1) DBMS                     2) Suites                       3) Spreadsheets                     4) Presentation Software

5) Word Processors

38. ————devices convert human understandable data and programs into a form that the computer can

process.

1) Printing             2) Output             3) Solid State                     4 ) Monitor          5)Input

39. Effective Selling Skills depends on the

1) Number of Languages depends on the DSA

2) Data on Marketing Staff

3) Information regarding IT market

4) Knowledge of related markets

5) Ability to talk fast

40. A Direct Selling Agent (DSA) is required to be adept in

1) Surrogate Marketing               2) Training skills                             3) Communication Skills

4) Market Research                     5) OTC Market

41. Leads can be best sourced by

1) Foreign Customers              2) Yellow pages                                 3) Dictionary

4) List of Vendors                   5) Local supply chains

42. A successful marketing person requires one of the following Qualities:

1) Empathy                             2) Sympathy                       3) Insistence

4) Aggressiveness                  5) Pride

43. Innovation in a market is same as

1) Abbreviation                                 2) Communication                               3) Creativity

4) Aspiration                                       5) Research work

44. Market segmentation can be resorted by dividing target group as per

1) Income levels of Customers                           2) age of the employees

3) Needs of the Salespersons                             4) Marketing skills of the employees

5) Size of the Organization

45. Post-Sales activities include

1) Sales presentation                          2) Customer’s feedback                          3) Customer

Identification                                      4) Customer’s apathy                            5) Product Design

46. The USP of a product denotes the

1) Usefulness of the product

2) Drawbacks of the product

3) Main Functions

4) Number of allied products available

5) High selling features of a product

47. The Competitive position of a company can be improved by

1) Increasing the selling price                        2) Reducing the margin

3) Ignoring the Competitors                          4) Increasing the Cost price

5) Understanding and fulfilling customer’s needs

48. Value added services means

1) Low cost products                           2) High-cost products                         3) At-par services

4) Additional services for the same cost         5) Giving Discounts

49. The Target market for Debit cards is

1) All existing account holders                        2) All Agriculturists

3)  All DSA’s                                                   4) All Vendors

5) All Out scoured vendors

50. A good Brand can be built up by way of

1) Customer Grievances                             2) Break-down of IT Support

3) Old age                                                   4) Large number of Products

5) Consistent offering of good services

ANSWERS:

1          5          4          1          1          1          5          2          1          4

2          5          3          3          2          2          5          5          4          3

2          4          4          3          3          1          2          4          5          1

2          3          3          4          3          3          5          5          4          3

5          1          3          1          1          2          5          5          4          1          5

DSA-direct selling agentShare of a market is-peers share in businessCall meaning-calling on prospectPresentation meaning is-explaining the use of productValue added service means-additional services.Targeting group in marketing terms-end usersBank assurance meaning-insurance sale thru bankingDigital marketing means-direct marketing techniqueResearch in marketing is introduced for-making best decision on marketing