Anchoring Matter for Fresher Party

Meaning of Bank It is generally said that the word â€Å"BANK† has been originated in Italy. In the middle of 12th century there was a great financial crisis in Italy due to war. To meet the war expenses, the government of that period imposed a forced subscribed loan on citizens of the country at the interest of 5% per annum. Such loans were known as Compara, Mintuo etc. The most common name was Monte. In Germany the word Monte was named as Bank or Banke. According to some writers, the word Bank has been derived from the word Banke. It is also said that the word Bank has been derived from the word Banco which means a banch.The Jews money lenders in Italy used to transact their business sitting on banches at different market places. When any of them used to feel to meet his obligations, his banco or banch would be broken by the angry creditors. The word Bankrupt seems to be originated from broken banco. Since, the banking system has been originated from money lending business, it is rightly argued that the word Bank has been originated from the world banco. Today the word bank is used as a comprehensive term for a number institutions carrying on certain kinds of financial business.In practice, the work Bank means which borrows money from one class of people and again lends money to another class of people for interest or profit. Definition of a Bank Oxford Dictionary defines a bank as â€Å"an establishment for custody of money, which it pays out on customer's order. † Definition of banking In general terms, the business activity of accepting and safeguarding money owned by other individuals and entities, and then lending out this money in order to earn a profit. Read more: http://www. investorwords. com/5413/banking. html#ixzz27ewFzo5g Characteristics / Features of a Bank v 1. Dealing in MoneyBank is a financial institution which deals with other people's money i. e. money given by depositors. 2. Individual / Firm / Company A bank may be a person, firm or a company. A banking company means a company which is in the business of banking. 3. Acceptance of Deposit A bank accepts money from the people in the form of deposits which are usually repayable on demand or after the expiry of a fixed period. It gives safety to the deposits of its customers. It also acts as a custodian of funds of its customers. 4. Giving Advances A bank lends out money in the form of loans to those who require it for different purposes. . Payment and Withdrawal A bank provides easy payment and withdrawal facility to its customers in the form of cheques and drafts, It also brings bank money in circulation. This money is in the form of cheques, drafts, etc. 6. Agency and Utility Services A bank provides various banking facilities to its customers. They include general utility services and agency services. 7. Profit and Service Orientation A bank is a profit seeking institution having service oriented approach. 8. Ever increasing Functions Banking is an evo lutionary concept. There is continuous expansion and diversification as regards he functions, services and activities of a bank. 9. Connecting Link A bank acts as a connecting link between borrowers and lenders of money. Banks collect money from those who have surplus money and give the same to those who are in need of money. 10. Banking Business A bank's main activity should be to do business of banking which should not be subsidiary to any other business. 11. Name Identity A bank should always add the word â€Å"bank† to its name to enable people to know that it is a bank and that it is dealing in money. Type 1. Saving Banks Saving banks are established to create saving habit among the people.These banks are helpful for salaried people and low income groups. The deposits collected from customers are invested in bonds, securities, etc. At present most of the commercial banks carry the functions of savings banks. Postal department also performs the functions of saving bank. T ype 2. Commercial Banks Commercial banks are established with an objective to help businessmen. These banks collect money from general public and give short-term loans to businessmen by way of cash credits, overdrafts, etc. Commercial banks provide various services like collecting cheques, bill of xchange, remittance money from one place to another place. In India, commercial banks are established under Companies Act, 1956. In 1969, 14 commercial banks were nationalised by Government of India. The policies regarding deposits, loans, rate of interest, etc. of these banks are controlled by the Central Bank. Type 3. Industrial Banks / Development Banks Industrial / Development banks collect cash by issuing shares & debentures and providing long-term loans to industries. The main objective of these banks is to provide long-term loans for expansion and modernisation of industries.In India such banks are established on a large scale after independence. They are Industrial Finance Corporat ion of India (IFCI), Industrial Credit and Investment Corporation of India (ICICI) and Industrial Development Bank of India (IDBI). Type 4. Land Mortgage / Land Development Banks Land Mortgage or Land Development banks are also known as Agricultural Banks because these are formed to finance agricultural sector. They also help in land development. In India, Government has come forward to assist these banks. The Government has guaranteed the debentures issued by such banks.There is a great risk involved in the financing of agriculture and generally commercial banks do not take much interest in financing agricultural sector. Type 5. Indigenous Banks Indigenous banks means Money Lenders and Sahukars. They collect deposits from general public and grant loans to the needy persons out of their own funds as well as from deposits. These indigenous banks are popular in villages and small towns. They perform combined functions of trading and banking activities. Certain well-known indian commun ities like Marwaries and Multani even today run specialised indigenous banks.Type 6. Central / Federal / National Bank Every country of the world has a central bank. In India, Reserve Bank of India, in U. S. A, Federal Reserve and in U. K, Bank of England. These central banks are the bankers of the other banks. They provide specialised functions i. e. issue of paper currency, working as bankers of government, supervising and controlling foreign exchange. A central bank is a non-profit making institution. It does not deal with the public but it deals with other banks. The principal responsibility of Central Bank is thorough control on currency of a country. Type 7.Co-operative Banks In India, Co-operative banks are registered under the Co-operative Societies Act, 1912. They generally give credit facilities to small farmers, salaried employees, small-scale industries, etc. Co-operative Banks are available in rural as well as in urban areas. The functions of these banks are just simila r to commercial banks. Type 8. Exchange Banks Hong Kong Bank, Bank of Tokyo, Bank of America are the examples of Foreign Banks working in India. These banks are mainly concerned with financing foreign trade. Following are the various functions of Exchange Banks :- . Remitting money from one country to another country, 2. Discounting of foreign bills, 3. Buying and Selling Gold and Silver, and 4. Helping Import and Export Trade. Type 9. Consumers Banks Consumers bank is a new addition to the existing type of banks. Such banks are usually found only in advanced countries like U. S. A. and Germany. The main objective of this bank is to give loans to consumers for purchase of the durables like Motor car, television set, washing machine, furniture, etc. The consumers have to repay the loans in easy installments. Definition of ‘Central Bank'The entity responsible for overseeing the monetary system for a nation (or group of nations). Central banks have a wide range of responsibilitie s, from overseeing monetary policy to implementing specific goals such as currency stability, low inflation and full employment. Central banks also generally issue currency, function as the bank of the government, regulate the credit system, oversee commercial banks, manage exchange reserves and act as a lender of last resort. Investopedia explains ‘Central Bank' The central banking system in the U. S. is known as the Federal Reserve System commonly known as â€Å"the Fed†), which is composed of 12 regional Federal Reserve Banks located in major cities throughout the country. The main tasks of the Federal Reserve are to supervise and regulate banks, implement monetary policy by buying and selling U. S. Treasury bonds and steer interest rates. Ben Bernanke currently serves as the chairman of the Board of Governors of the Federal Reserve. FUNCTIONS OF CENTRAL BANK M. H. Do-Kock has explained the following seven functions of a central bank in his book â€Å"Central Bankin g† which economists have generally accepted. 1. Monopoly of note-issue. 2.Banker, agent and adviser to the government. 3. Custodian of cash reserves of commercial banks. 4. Custodian of nation’s reserves of international currencies. 5. Lender of the last resort 6. Clearing house function 7. Credit control Besides the aforesaid seven functions there are some other functions also, namely: (i) Collection of data. (ii) Role of central bank in developing countries. (iii) Central bank and industrial and agricultural development. (iv) International financial institutions. 1. Monopoly of Note-Issue: Note-issue primarily is the main function of a central bank in every country.These days, in all the countries where there is a central bank generally it has got the monopoly or the sole right of note-issue. In the beginning this was not the function of Central Bank but gradually all the central banks have acquired this function. First of all, Central Bank of England got the right of note-issue in the year 1844. In actual practice, upto the beginning of twentieth century, generally central banks were recognized as the banks of note-issue. In India, R. B. I. , the central bank of India has got the right of note-issue. 2. Banker, Agent & Adviser to the Government:As banker to the government, central bank provides all those services and facilities to the government which public gets from the ordinary banks. It operates the accounts of the public enterprises. It manages government departmental undertakings and government funds and when there is a need gives loans to the government. It looks after the management of public debt. It accepts the payment of taxes from the public on behalf of the government and makes payment for the cheques issued by the government. It also undertakes transactions relating to foreign currencies on behalf of the government. 3.Custodian of Cash Reserves of Commercial Bank: Central bank is the bank of banks. This signifies that it has the s ame relationship with the commercial banks in the country which they have with their customers. It provides security to their cash reserves, gives them loan at the times of need, gives them advice on financial and economic matters and works as clearing house among various member banks. A definite percentage of deposits of commercial banks are kept as reserve with the central bank. This leads to centralisation of cash reserve and facilitates working of credit control. These funds re of great significance during the time of emergency. 4. Custodian of Nation's Reserves of International Currencies: Central bank is the custodian of the foreign currency obtained from various countries. This has become an important function of central bank, these days, because with its help it can stabilize the external value of the currency. This function has become highly important after the World Depression of 1929 and the establishment of the International Monetary Fund. 5. Lender of the Last Resort: C entral bank works as lender of the last resort for commercial banks because in the times of need t provides them financial assistance and accommodation. Whenever a commercial bank faces financial crisis, central bank as lender of the last resort comes to its rescue by advancing loans and the bank is saved from being failed. Central bank helps commercial banks by discounting their bills and securities. 6. Clearing House Function: All the commercial banks have their accounts with the central bank. Therefore, central bank settles the mutual transactions of banks and thus saves all banks contacting each other individually for setting their individual transactions, in this way; the unnecessary cash ransactions between individual banks are avoided. 7. Credit Control: This is a very important function. These days, the most important function of central bank is to control the volume of credit for bringing about stability in the general price level and accomplishing various other socio-econo mic objectives. There are number of methods which a central bank may use for controlling the volume of credit such as bank rate, open market operations, change in reserve ratio and various selective controls. These methods have been discussed in detail in the next question.

Summary response paper Essay Example | Topics and Well Written Essays - 750 words

Summary response paper - Essay Example Moreau, the classic science fiction novel by famed author Herbert George Wells in which animals and humans were grafted into each other in various combinations, producing instead a distinct class of sub-humans. Anything that is considered as cruel, unusual or painful experimentation on animals is now prohibited due to the adoption of these ethical standards as a safeguard against unauthorized experiments. Moral ethics has been around for quite some time; the issues related to it had been discussed in great detail by the ancient Greek philosophers. Ethics today has entered into many areas of human endeavors, such as its increasing adoption by global businesses in the form of corporate social responsibility that has tempered the search for profits under capitalist free markets. Giant strides in medical technologies only fairly recently presented a new set of moral dilemmas, for which people are sometimes not too prepared to deal with, issues like euthanasia, abortion, organ donations, brain death, palliative medicine and the surrogate pregnancy trend in which more women are now willing to rent out their wombs for a fee. In this regard, this paper examines the biomedical issues related to whether animals also have the same rights as people and the propriety of continuing conducting experiments on animals. Discussion In his well-argued article entitled â€Å"The Case for the Use of Animals in Biomedical Research† and published in The New England Journal of Medicine back in 1986, Carl Cohen claims that animal experiments should continue because the arguments against them, that the animals have rights which are being violated and all sentient creatures must not suffer pain or any kind of unnecessary or avoidable suffering, are both wrong from a moral perspective. His succinct explanations debunked the two arguments put forward by animal rights advocates on the basis of animals having no rights at all because they have no moral capacity to make any choices or g ive consent, and secondly, the animals â€Å"are not capable of grasping the generality of an ethical premise in a practical syllogism† and it is only humans who can think at a highly abstract level (Cohen 96). With this in mind, he therefore strongly argues in favor of animal experiments for the benefit of science and mankind, in the hope that these experiments will be able to provide benefits for patients with new drug discoveries as well as also sparing humans from being used in biomedical research studies as the subjects themselves, in lieu of animals. A close analysis will show that Prof. Cohen leans towards utilitarianism as his justification. I do not agree nor accept the stance of Prof. Carl Cohen that animals have no rights. The argument he used is that of speciesism, which he did not equate with racism or sexism as it is something entirely different altogether. What he is doing is bordering on casuistry (or hair splitting) and he is likewise equally guilty of the sa me accusations he had leveled against his critics, mainly that of â€Å"drawing an offensive moral conclusion from a deliberately devised verbal parallelism that is utterly specious.† Cohen argued that animal species are not the same and therefore do not have the same rights in an equal measure, but rather that Peter Singer is grossly mistaken to formulate and defend his â€Å"principle of equal consideration of interests†

Unit Assessment 5 professionalism Essay Example | Topics and Well Written Essays - 500 words

Unit Assessment 5 professionalism - Essay Example In my company where gifts are not encouraged, I would accept for any gifts offered but work towards ensuring that policies of the organization are well understood to ensure that the person does not offer gifts in the future. The fact that the employee has been offering gifts for a long time may indicate two things. Firstly, the employee may not be aware of the policy regarding gifts (DuPont, 1998). Secondly, he/she may just be ignorant and not care of the consequences of going against the organizational policies. To address these issues, I would strive to have the organizational policies understood by all the staff members by sharing on their emails as well as through communication through supervisors. This way, the employee targeted will not feel victimized and will most likely stop the act. The other step that may be taken is through training to all staff members on different policies as well as offering written policies upon signing of contracts for new employees (Malin, 2000). In the event that such measure do no work on an employee, it is important to communicate the policy to the affected employee directly to ensure that they stop the habit from becoming widespread within the organization against the policies. Â   Motivation is important in ensuring that staff members work and deliver maximally in an organization. As a supervisor, working with a motivated group makes it easy to achieve organizational goals. It also reduces many problems, which may arise from internal conflicts, lack of communication and poor performance (DuPont, 1998). One of the most important methods of motivating employees is through offering a nurturing environment at the work place. A nurturing environment makes employees feel that they are cared for and that their welfare is well considered by the organization (Anderson and Bolt, 2011). For instance offering free counseling services for employees may be a good step towards a

4. Explain the theoretical and historical construction of sexual Essay

4. Explain the theoretical and historical construction of sexual identity. Illustrate your answer with reference to the role of race in the construction of sexual identity and sexual roles - Essay Example The essentialist view looks into the biological differences inherent within each individual (Schwartz & Rutter, p.23). The construction of sexual identity is dependent on the genetic program of each individual, whether one is male or female. And consequently, the sexual roles of each are dependent on these biological differences. On the other hand, the social constructionist perspective sees sexual identity as the result of the social processes that are dependent on social interactions and social institutions (Schwartz & Rutter, p.23). Sexual roles, then, are dependent on the sanctioned norms that define the differences between male and female behavior. Sexual identity can, therefore, be seen as a result of social expectations because that is who an individual is supposed to be, whether male or female. With this perspective, the biology and inherent sexual being is being matched to the sexual role. We are expected to behave as a male or as a female according to the biological roles that each one plays. The roles are learned through culture, however, it is expected to match the inherent biological sexual orientation that each one has. Sexual identity can also be a result of learned behavior. In this perspective, culture is a significant process in acquiring one’s sexual identity and role. An individual learns to behave in such a way that their social experiences dictate. One can behave like a male or a female, depending on how one is socially influenced. From these primary perspectives, other theories and perspectives come into play. With the movement and changes of the social world, the theories also move from defining primarily how one is expected to behave, to differences in power, social roles and expectations according to gender sensitivity and similar social constructs that affects the society’s course of thinking regarding sexual identity. The major sociological perspectives interpret sexual identity differently. Functionalist perspective

Finacial management Essay Example | Topics and Well Written Essays - 3000 words

Finacial management - Essay Example Therefore, as a matter of investment objectives, the study turns to somewhat outrule the relevance of Payback Period, Internal rate of return (IRR) and Overall rate of return (ORR) investment appraisal techniques and invites to focus on Life-Cycle/Whole life Cost Analysis (LCCA/WLCA), NPV, Net Benefits (NB) and Net Savings (NS), Benefit-to-cost ratio (BCR) and Savings-to-investment ratio (SIR) appraisal techniques. Term 'somewhat' in this case refers to the existence of profit-bearing or cash inflow-bearing opportunities connected with letting office space to another governmental institution (department (A)) for a rent paid yearly. There are many methods available to calculate specific economic performance measures. Used appropriately, these methods allow the investor to analyze the economic consequences of particular decisions and fairly evaluate alternative approaches. The various economic analysis methods include: Net Benefits (NB) and Net Savings (NS) are analytical methods used to describe time-adjusted economic benefits or savings between competing alternatives. NB is used to examine how costs of competing alternatives impact investment opportunities (e.g. ... NB is used to examine how costs of competing alternatives impact investment opportunities (e.g. real estate income or factory output) measured in positive outcomes relative to a base case. The NS method is the NB method recast to fit the situation where there are no important benefits in terms of revenue, but there are reductions in future costs (savings). Benefit-to-cost ratio (BCR) and Savings-to-investment ratio (SIR) are numerical ratios whose size indicates the economic performance of an investment. For example, a BCR of 1.5 means that one can expect to realize $1.50 for every $1.00 invested in the project over and above the required (baseline) rate of return. A primary application of BCR and SIR is to set funding priorities among competing projects when there is a limited overall program budget. Internal rate of return (IRR) is a measure of the annual percentage yield on investment. The IRR is compared against the investor's minimum acceptable rate of return to determine the economic attractiveness of the investment. This often misunderstood method is primarily used in Pro forma analysis in industrial and financial circles. Overall rate of return (ORR) is the annual yield from a project over the study period, taking into account reinvestment of interim receipts. Project earnings and earnings from reinvestment are accumulated to the end of the study period and set equal to the present value of cost to compute the ORR. This method offers another means of analyzing and ranking the economic performance expectations of competing alternatives. Discounted payback (DPB) and Simple payback (SPB) measure the time required to recover investment costs. If one ignores the time value of money (assume a zero discount rate), the method is called

A short SF story Essay Example | Topics and Well Written Essays - 2250 words

A short SF story - Essay Example They did not succeed, however, in achieving improvements on scientific matters, since their resources were scarce. They sensed that something was missing that could improve their lives. They needed to become strong and fearless of what they would encounter on the surface, an unknown site to them. Eager to wonder into the unknown they set off into their voyage. They had old technologies that they managed to acquire from their ancestors from the 21st Century. They thought that the key elements to their science inquiries would be found in the old human beings ´ technologies. They thought that if they worked on some of the technological paradigms that they had on file, they could reconstruct a better life for their species. They would be able to enjoy a surface they had no idea of what to expect. Everything would be new to them and perhaps they would find other survivors, other species, and other galaxies. They had difficulties working with the technology they found since it was outdated and they lacked the necessary tools to update it to function according to their needs. Due to the fact that they had lived underground for so long and were constantly experimenting, they were ingenious and found ways to adapt the technological devices according to their needs. The survivor idea was both a good feeling as well as a bad feeling. They would possibly find good natured species that would want the wellbeing of all but they could also find minds with destructive thoughts, such as the ones that brought them to what they had become. It was not an easy decision to make. They wanted to expand their knowledge, travel into the galaxy, and help endure life as they knew it. Fortunately, they had the reproductive means to continue for generations but they wanted to improve their species. They wanted to become that which they were in the 21st Century with major improvements. They thought that the only way to achieve their goal would be to find

Business Information System written assignment Essay

Business Information System written assignment - Essay Example According to the case, it is clear that the firm needs to use an enterprise resource planning system to manage its operations. In acquiring a business system, the business can acquire a system for each of the functions that it has, or it can acquire an information system that cuts across all the functions of the business. An enterprise resource planning system is a system that is designed to centrally manage all the process of the business. In other word, information is shared across all the departments in the organization. This is achieved by installing a system that incorporates all the functions of the business. If a business acquires this kind of a system, it means that all data from all its departments is centrally collected and managed which makes it easier for each department to collaborate more easily and also eliminates redundancies in functions. A customer relationship system is crucial to make sure that customers are managed properly. According to Gravely (2003, p.12), customer relationship management is a process of finding, identifying, acquiring and maintaining the most dependable customers for the business. In a modern business environment, customer management is important, and the CRM will help BMW in a number of ways. First, it will make it easier to maintain a close relationship with customers. Given the kind of products that the firm is selling, it is clear that its customers are long time customers who are going to remain using the products of the firm for a long time. Being able to have a close business as well as a personal relationship with the customers will be of importance to BMW in the long run and the CRM will help in this. The sales department will benefit from the CRM and the sales staff will be able to interact better with customers, both current and potential customers. A CRM will also help in getting and processing