...INDIAN FINANCIAL SYSTEM 1. The Financial System – Nature, Evolution and Structure 1.1 The Nature of Financial System What is a Financial System? A system is generally defined as an ordered, organized and comprehensive assemblage of facts, principles or components relating to a particular field and working for a specified purpose. A Financial System aims at proper redistribution of surplus financial resources for the equitable growth of an economy. “Financial System is a set of complex and closely inter-mixed financial institutions, markets, instruments, services, practices, procedures and so on.” An economy's financial system exists to organize the settlement of payments, to raise and allocate finance, and to manage the risks associated with financing and exchange. A developed financial system is one that has a secure and efficient payment system, security markets and financial intermediaries that arrange financing, and derivative markets and financial institutions that provide access to risk management instruments. It does so by transfer of various economic units. Goldsmith, R.W., The Flow of Capital funds in the war Economy, New York, Columbia, 1965, p.28 – designated various economic units into three categories; (i) Savings-surplus units> those units whose savings are in excess of investments, (ii) Economic Units> in whose case the investments exceed their savings referred to as savings-deficit units and (iii) Neutral Units> in whose case savings are equal...
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...KEY PERFORMANCE INDICATORS OF RRB- AS ON 31 MARCH 2011 (`. Lakh) Sr. No. No. of District Branches Covered 5 8 5 3 5 2 16 25 2 8 11 1 18 3 2 14 12 7 7 7 16 11 1 13 11 15 9 7 2 9 3 8 1 7 8 3 8 3 10 3 20 1 2 16 5 12 9 6 8 5 2 6 5 2 15 2 5 11 6 3 13 3 6 6 5 15 15 4 11 7 4 14 8 2 3 7 14 7 4 9 11 4 3 620 6 553 385 105 226 144 22 362 46 164 421 68 884 112 90 266 134 145 167 186 229 125 33 111 176 221 188 215 53 451 139 368 30 185 235 80 223 43 214 100 348 63 27 329 96 182 27 58 62 8 104 183 174 81 333 25 53 178 30 58 275 84 213 218 220 110 203 113 507 309 139 673 361 63 212 380 310 203 61 142 552 216 119 16001 Owned Fund Share Capital Share Capital Deposit Reserves 9 41901.43 79740.98 7630.19 19854.46 11428.33 0.00 7363.67 0.00 81.29 14666.05 0.00 216.39 3229.06 5708.90 4788.64 8068.68 9295.81 5978.88 49686.30 24108.28 5526.90 1364.24 0.00 6596.73 0.00 0.00 12696.33 1119.41 68710.61 14062.72 47826.93 2294.10 18113.96 22774.65 0.00 1935.41 0.00 12069.93 4084.08 4417.76 3724.24 3782.40 2322.68 2688.19 54.48 10.37 5722.25 620.89 0.00 0.00 5.55 182.50 2190.41 11.31 45.47 8754.05 33395.91 2547.49 40.19 1458.83 2057.68 10565.88 8331.02 15380.22 8479.22 14982.73 57.97 50543.92 50162.48 3574.11 30824.21 34812.29 0.00 46663.78 42612.16 15985.05 25717.52 4915.93 5241.47 0.00 752.01 0.00 956557.96 Total Owned Fund Borrowings Deposit Investments Name of RRB State Sponsor Bank Loan Loan Recovery issued Net Profit Loss Net NPA % (As on % during the June 2010) (After Tax) Amount period ...
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...Financial System is a system that allows the transfer of money between savers and borrowers. It helps in transferring of surplus amount of money from the savers to the borrowers who need money, which helps savers to earn on their investments, and this similarly helps the borrowers to fulfill the need of the money. A financial system helps promotes the wellbeing and also helps in improving the living standards of people. Lets start with the Capital Market in India first. Capital Market is a market in which individuals and institutions trade financial securities. The securities are sold off and bought in capital market for raising the funds (Investopedia, 2013). Capital Market includes both primary and secondary market. Capital market helps in proper channelization of funds and helps raising long- term funds. This kind of market is a continuous market and provides variety of services. The market where new securities are bought and sold for the first time is known as Primary Market. Types of issue in Primary Market may be through public offer (where shares are offered to general public), bonus issue, Follow- on public offers, private placement (intermediaries sell shares to selected clients at higher price), right offer (shares are offered to existing shareholders) etc. It helps in providing additional capital to issuer companies. Secondary Capital Market is a market where existing securities are bought and sold. Secondary market offers liquidity, which encourages even those investors...
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...Reservation Policy and Indian Constitution in India DR.SUNIL KUMAR JANGIR (Assistant Professor) POLITICAL SCIENCE DEPARTMENT "It is against the fundamental principles of humanity, it is against the dictates of reason that a man should, by reason of birth, be denied or given extra privileges" -Mahatma Gandhi Abstract: However, the theme of reservations has figure importantly in open debates constantly since the recommendations of the Mandal Commission Report were sought to be implemented in 1991 nearby has been extremely tiny discussion by the beneficiaries of reservations. This paper looks at some of the more important chronological, constitutional and lawful moments in the development of a reservations procedure in India I. Introduction The spirit of equality pervades the provisions of the Constitution of India, as the main aim of the founders of the Constitution was to create an egalitarian society wherein so- cial, economic and political justice prevailed and equality of status and opportunity are made available to all. However, owing to historical and traditional reasons, certain classes of Indian citizens are under severe social and economic disabili- ties [so] that they cannot effectively enjoy either equality of status or of opportunity. Therefore the Constitution accords to these weaker sections of society protective discrimination in various articles, including Article 15(4). This clause empowers the state, notwithstanding anything to the contrary in Articles...
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...Plunder of India India now is witnessing not mere corruption, but national plunder. --Brahma Challeny, The Hindu, Dec 6, 2010 ESTIMATE OF DEPOSITS IN SAFE HAVENS Top 5 in the world India - $1456 billion (1.4 Trillion dollars) Russia - $470 billion UK $390 billion Ukraine - $100 billion China $96 billion Note: While these numbers are not substantiated because of secrecy, it does reflect the magnitude. Conservative Estimate by Global Financial Integrity India’s standing per Transparency International India’s Corruption Perception Index: 3.3 Scale of 0 to10 10 (highly clean), 0 (highly corrupt) India The Republic of Scams India, Republic of Scams 2G Spectrum Allocation Fraud, 1.76 lakh crores (40 billion dollars) Classic example of collusion between politicians, industrialists and media with high powered brokers. Indian Government refuses to constitute a joint parliamentary committee of all parties to investigate the scam (that resulted in total deadlock in entire last parliamentary session). India, Republic of Scams 2G Spectrum Allocation Fraud(2010) India Today Jan 3, 2010 No tolerance for corruption or deception? Govt refused Joint Parliamentary committee because based on proportion of MPs there will be majority representatives from other parties who will be able expose those who actually received money and deposited in swiss and other safe havens? Who are they protecting? According to Dr. Swamy, Sonia has taken a big share of...
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...UNION BUDGET 2012-13 16 March 2012 INTRODUCTION The Indian Government finds itself in an unenviable economic position at the current moment. First, the tight monetary policy adopted by the RBI in the past months has led to a dip in GDP growth rates, from the 9% figure projected in the previous budget to a modest 6.9%. Second, there has been an increase in the fiscal deficit, which can be explained by lower than expected revenue collections from taxes (due to slowing growth), low disinvestment and spectrum sale revenues, and the growth of subsidies leading to an increase in government expenditure during FY 2011-12. India’s fiscal deficit during FY 2011-12 was 5.9%, far above last year’s budget estimate of 4.6%. Third, given the current volatile political scenario, the government has to project a pro-common man image. Budget 2012-13 appears to be a realistic budget, balancing the objectives of financial prudence, GDP growth and populist measures. Most of the policies put forth in this budget were along expected lines. And, the initial response from the stock market supports the same. Fiscal prudence The finance minister clearly outlined measures the government is taking to increase its revenues, including increasing the service tax rate to the pre-stimulus level of 12%, increasing excise duty to 12% and setting a disinvestment target of Rs. 30,000 crore for the year. This budget’s big idea was the introduction of systems to enhance the simplification of tax laws, increase...
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...BUDGET ANALYSIS : AGRICULTURE SECTOR 2012-13 HIGHLIGHTS For Indian Economy it had been a year of recovery interrupted FY12 GDP seen at 6.90% - Economy to grow at 7.60% in 2012-13 Country had to battle Double digit Inflation Weak economic growth attributed to low industrial growth Agriculture and Services have performed well Fiscal balance has deteriorated Signs that Economy is turning around Focus on domestic demand driven growth Economy Need to improve supply side management of Economy To enhance supply side – need to cut infrastructure bottlenecks Need to accelerate reforms to strengthen supply side Significant slowdown in growth in last 2 years Expect headline Inflation to moderate further and stabilize High Crude Oil prices hit growth Fiscal deficit rose due to subsidy Ensure rapid rise in private investment Inflation and Current account deficit to come down next year Focus of the Budget has been on 3 Sectors Improving Infrastructure Focus on farmer development Improving the main concerns of raising Farm productivity and production INFRASTRUCTURE Remove bottlenecks in Agriculture, Energy, Transport, Coal, Power and National Highways To enhance supply side – need to cut infrastructure bottlenecks Need to accelerate reforms to strengthen supply side Ensure rapid rise in private investment To increase investments in infra through PPP 12th plan infra investment at Rs 50 lakh crore Infrastructure...
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...Table of Contents Budget 1 Railway Budget 2014-15 1 Union Budget 2014-15 2 Budget Railway Budget 2014-15 The Union Railway Budget for 2014-15 was presented by Mr D V Sadananda Gowda, Union Minister for Railways, Government of India, on July 8, 2014. Budget Highlights: Railways hope to achieve total receipts of Rs 1,64,374 crore and would peg total expenditure at Rs. 1,49,176 crore," he said. Earnings from Freight Traffic are estimated at Rs 1,05,770 crore and from Passenger Traffic Rs 44,645 crore, Indian Railways earned approximately Rs. 1,40,485.02 crores in fiscal 2013-14, as compared to Rs. 1,21,831.65 crores in fiscal 2012-13. Total goods earnings were Rs. 94925.02 crores in fiscal 2013-14, as compared to Rs. 82852.54 crores in fiscal 2012-13. It had a net income of 10,400 crore in 2013-13 and * Railways will play a role in building a dynamic India * Target to make India the largest freight carrier of the world * Highest-ever plan outlay of Rs 65,445 crore (US$ 10.95 billion) with budgetary support of Rs 30,100 crore (US$ 5.03 billion) * Leveraging of Railway PSU resources by bringing in their investible surplus funds in infrastructure projects of the Railways * 58 new trains .5 new Jansadharan trains, 5 Premium and 6 AC trains, 27 new Express trains, 8 new passenger services, 5 DEMU services and 2 MEMU services to be introduced and run of 11 trains to be extended * Bullet train proposed on identified Mumbai–Ahmedabad sector ...
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...Amit Pati PGDM 20160009 Individual Report Of Reservation Reservtion in India is a form of affirmative action designed to improve the well-being of backward and under-represented communities defined primary by their ‘caste’ (quota-system based on ‘gender’ or ‘religion’). These are laws wherein the certain percentage of total available vacancies in educational institute or government jobs are set aside for people from backward communities and others like SC, ST, OBC are the primery beneficiaries of the reservation policy under the constitution. Reservations per say has really failed to deliver the intended objective. Which is to uplift the down trodden and reduce the huge gap between the forward and the backward class . In the almost 60 years of its existence it has kind of consolidated a deep rooted belief amongst the scheduled caste that it is their right to get quotas and freebies and they need not have to make efforts to acquire skills to be competitive .There is quota in education and there is quota in jobs. The entire approach has been flawed .Mostly because the original well intentioned reservation policy thought out by the framers of the constitution was manipulated by later order politicians solely with the intention securing votes.None of the government machinery's has bothered to evaluate the extent to which benefits have percolated.Instead of creating more schools and educational institutions it went about reserving quotas.If the govt had provided a high class free...
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...Strategic Management News Paper Article Summary Article Summary This article is about how intense the battle between internet companies is becoming and in what new strategies the companies are building up to tackle the situation and the predominant strategy used is barter marketing tactics. This article emphasizes on the partnership entered by OLX, Flipkart, Uber and Redbus. Last month Flipkart and OLX entered into partnership to leverage each other’s strengths. OLX announced a marketing partnership that allows potential customers to sell their used products on the latter while buying new ones on Flipkart. With this partnership they will be able to provide end to end solutions to the customer, where selling a product is an integral part of a buying process. Industrial experts believe that this is a way of barter marketing tactics where companies are trying to grow disproportionally in a short span of time in other words called as growth hack. Experts believe for OLX this is an opportunity for them to leverage the vast customer base of Flipkart. But there is no clarity in weather there is a revenue sharing partnership between the two companies. Another partnership mentioned in the article is between Uber and Redbus. Uber is new taxi service launched last year is operating in 6 major cities such as Mumbai, Pune, Bangalore, Hyderabad, Delhi and Chennai. So a tie up between them is very much helpful for the startup as Redbus has nearly 2 million users...
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... (Rabindranath Tagore, Letters from Russia) The debate on affirmative action in India is long and not always geared to the desired aim: creation of equality of opportunity. Just like Indian secularism, reservation system in India has always a different political aim to make the system more unequal than what it is. Indian secularism, rather than making the state independent of religion, is intended to provide special privileges to certain religious groups. Similarly Indian affirmative system is politically designed to provide restricted rights not equal rights to some chosen people. The affirmative action in India has started perhaps by Vice-Roy Curzon in 1905 by banning the employment of Hindu Bengalis in the government services; the official argument was that they were too advanced and taking away job opportunity from others particularly the Muslims. Later it was extended in the military services by giving preferential treatments for Muslims and Sikhs branding them as martial races. Reservations in government jobs were introduced in 1918 in Mysore in favor of a number of castes and communities that had little share in the administration. In 1909 and in 1919 similar reservation system was introduced for the Muslims in British India. In 1935, for pure political reason the British government has provided job reservation for the backward castes. The real idea was to divide the population of India into several warring groups...
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...Y.S.SIR Changing dynamics of Caste In Indian Politics The word ‘CASTE’ is derived from Spanish word ‘CASTA’ which means , ‘breed or lineage or race’. It was first applied by the Portugues to the particular Indian Institutions known by the name of ‘Jati’. CASTE is a ‘state of mind’, ( Ambedkar, 1936 : 33) In 1955, M N Srinivas presented a paper, ‘Castes: Can They Exist in the India of Tomorrow?’, at a national seminar on “Casteism and Removal of Untouchabilty” in Delhi, attended, among others, by such distinguished persons as S. Radhakrishnan, Jagjivan Ram, Govind Ballabh Pant V .Rao, Kaka Kalelkar and Irawati Karve. The paper was published in the seminar report as well as in the Economic weeky , under the title, ‘An Obituary on Caste as a System’. Srinivas expanded this title into a sentence, “While caste as a system is dead, individual castes are flourishing” (Srinivas ,1962 : 51) M.N.Srinivas defines ‘caste’ as a hereditary usually localised group, having a traditional association with an occupational group and a particular position in the local hierarchy. (ibid : 52) Colonial Understanding Of Caste The Colonial rulers understood caste as a feature of Hindu Religion. It is through the Colonial census that ethnographic details and theories of caste evolved. According to this understanding , Caste derives it’s legitimacy from the ‘ four-fold verna hierarchy’ found in Manusmriti. (Jones,1796:103) The Verna System divides society into 4 groups: 1 BRAHMIN...
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...Railways are the biggest mode of transport in this country it carries large amount of freight and people through different parts of this country. Indian railways are the biggest employer of this country and it has the largest length of track in the world. Inspite of such huge infrastructure and such enviable human resource railways are facing problem because due to political and various other factors fare systems are not rationalized in our country. We still do not pass on the costs to our passengers. • Privatization will bring the much needed common-sense; less political interference. Apart from that such huge resource needs careful planning and judicious utilization...but the railways in our country is suffering from too much of bureaucracy nowadays when air fares are getting cheaper by the day we need to invest on high speed engines and tracks to get the edge. • Trivedi said the ministry has trimmed its loading targets for the current fiscal by 23 million tonnes to 970 million tonnes against 993 million tonnes target fixed at the beginning of the fiscal. Trivedi, however, asserted that the ministry has “retained” its freight earning targets in view of “freight rationalisation” implemented by the Railways a week ago. The Railways passenger earning targets have also been trimmed down by Rs 1,656 crore to Rs 28,800 crore. Reason being, less than targeted passengers growth in the current fiscal that stood at 5.1 per cent as against the budgeted target of 5.9 per cent. Trivedi...
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...decided to hive of the sugar, Distillery and Workshop operations at Vuyyuru and Lakshmipuram to a new company which would be able to focus its attention to the growth and development of these operations. The company is engaged in the manufacture and marketing of wide range of products that can be broadly classified under three groups. Viz., (1) Sugar (2) Bio-products (3) Engineering unit for manufacture of solid liquid separation. Thus catering to the needs of many process industries contributing to sustain pollution free environment. The company provides various services in the environment category like Biological Waste Water treatment, Liquid/Solid separation, milk of time preparation, pulp washers, sludge dewatering, recaustizing systems, flocculation and mixing classification. The company was formed with the objective of taking over the Sugar, Distillery and Workshop units. OBJECTIVES OF KCP (SUGARS): • To broaden access to livelihood opportunities for target groups, particularly women by providing employment opportunities to them. • To improve access to new and existing services and to extend a manufacturing unit. • To improve the productivity of sugarcane which are limited in source and are seasonal in nature. • To minimize the time delay between harvest and inventory in the yard (for sugarcane to be crushed). • To increase the complexity of production since cane is harvested continuously....
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...OTHER BACKWARD CLASSES The term backward casses has not been defined properly,either by the sociologists or by the Constitutio-makers.The backward classes are a large mixed category of persons with boundaries that are both unclear and elastic.They seem to comprise roughly one-third of the toatal population of the country.They consist of three main categories-the scheduled castes,the scheduled tribes and the other backward classes.The scheduled castes and scheduled tribes are comparatively better defined and they form roughly 22% of the total population according to the 1971 census.The other backward classes is a residual category.Their position is highly ambigous and it is not possible t give an exact statemen of their numbers. Defintion of other backward classes Though the term backward classes is popularly used by sociologists.It is not defined properly.Still for our purpose of study,we may define it in the following way: 1)Justice K. Subba Rao,former chief justice of india,defined “backward classes” as—“an ascertainable and identifiable group of persons based on caste,religion,race,language,occupation and such others,with definite characteristics of backwardness in various aspects of human existence-social,cultural,economic,political and such others”. 2)We can generally define backward classes as those social groups or classes or castes which are characterise by low leteracy and lack of education,poverty,exploitation of labour,non-representation in services and...
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