Qualitative Research Assignment Essay Essay Example

Qualitative Research Assignment Essay Paper 1. Was there a clear statement of the purposes of the research? Yes. In the article. the purpose of the research was to understand the experience of participants. their cognition about type 2 diabetes. and the factors of medicine attachment in Malaysia. Harmonizing to Susan ( 2010 ) . the five constituents of PICOT are population. issue. context. result. and clip. Harmonizing to Al-Qazaz et Al ( 2011 ) . the PICOT was presented by the research worker in the survey were. Phosphorus: Type 2diabetes patients with receiving of hypoglycaemic medicine. I: Identifying participants’ perceptual experience. and their cognition about type 2 diabetes disease and medicine. Degree centigrade: USM clinic of Malaysia. where the survey took topographic point. Oxygen: It helps people populating with type 2 diabetes to hold a diverse apprehension by associating with other people’s experiences. Thymine: March and April of 2009. Qualitative PICOT is a model to assist in explicating effectual clinical inquiry in a step-by measure mode ( Melnyk and Fineout. 2010 ) . 2. Is a qualitative methodological analysis appropriate? Yes. Qualitative research is to analyze a person’s behaviour and lived experiences related to what is being studied in the research ( Denzin and Lincoln. 2011 ) . The cardinal features of qualitative survey in this article included a little sample size. in-depth interview ( semi-structured ) . research worker affecting during interview. non comparings and non numerical. In qualitative survey. sample size are normally little that achieve in-depth apprehension of the experiences or feeling of the participants ( Polit and Beck. 2012 ) . Meanwhile. a semi-structured interview was used to roll up informations by gulling participants’ thoughts originating until no more new subjects emerging. We will write a custom essay sample on Qualitative Research Assignment Essay specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Qualitative Research Assignment Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Qualitative Research Assignment Essay specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Harmonizing to Polit and Beck ( 2012 ) . semi-structured interview can supply rich and elaborate information during phenomenon survey. In this survey. a phenomenological attack was used to depict the purpose of the research. It is to understand the experiences of diabetic patients in Malaysia. and research their cognition about the medicines that they have been taking. Harmonizing to Judith ( 2007 ) . qualitative research is characterized by its purposes to understand the experiences and attitudes of patients. In brief. a qualitative methodological analysis is appropriate to this research. 3. Be the research design appropriate to turn to the purposes of the research? Yes. Harmonizing to NCBI ( 2014 ) . a Phenomenological survey can likely research participant’s lived experience. beliefs about the efficaciousness of the medicine. side-effects of drug and participants’ attachment to the intervention government. By the square. in this article. the purpose is to understand the participants’ experience and research their cognition and medicine attachment related on type 2 diabetes. Therefore. phenomenological attack is appropriate to turn to the purposes of the research. The advantages of Phenomenological survey is to uncover patients’ beliefs and experiences by a flexible manner to research the respondents’ attitude. and leting deep understanding about cognition and feeling of participants ( Polit and Beck. 2012 ) . However. its restriction is that samples are frequently little set and the research workers are non trying to generalise the findings. 4. Be the enlisting scheme appropriate to the purposes of the research? Yes. The research worker recruited participants from USM clinic and who were diagnosed type 2 diabetes while taking on hypoglycaemic medicines through a convenience sampling. Harmonizing to HRDAG ( 2013 ) . convenience sampling is to enroll participants from a peculiar clinical scene during informations aggregation of a qualitative research. Furthermore. convenience sampling is easy and efficient to pull out the greatest possible information from the new instances in the sample. until there is no new informations could be obtained and the redundancy of informations impregnation was achieved ( Polit and Beck. 2012 ) . However. convenience sampling may non be a preferable sampling in qualitative research due to unable to convey out the most information-rich beginnings and the representative of the population ( Polit and Beck. 2012 ) . In this article. the information was merely obtained in one specific clinic. that would impact the credibleness of consequence. such as the inauspicious effects of medicine. and the satisfaction rates from wellness suppliers. It would be better if the research worker usage purpose trying into the survey. Purpose sampling is to take participants based on specific intents. and it is chiefly used in qualitative research ( Polit and Beck. 2012 ) . it can accomplish representativeness of the population and provide credibleness of the consequence. because the research worker will non merely concentrate on one clinic during enlisting of participants. 5. Were the informations collected in a manner that addressed the research issues? Yes. A semi-structured interview was developed for informations collection of the research. Semi-structured interview is a paper-based interview usher which contain open-ended inquiries and the participant to follows ( RWJF. 2008 ) . Furthermore. Semi-structured interview provide rich. elaborate information in the phenomenon survey ( Polit and Beck. 2012 ) . In the survey. the research worker has described in-depth interview to research patients’ beliefs and experiences. Besides. a consent signifier was signed by participants before interview. a direct Tell phone contact for set uping a clip of interview. Further more. all the interview has been audiotaped. and the research worker did line by line analysis and coding the information to place the cardinal subjects. The research worker interpreted to the participants who could non understand English during the interviewing by interpreting from a staff nurse to avoid prejudice that might impact the findings. In short. the informations collected were to the full addressed the research issue of this survey. 6. Have the relationship between research worker and participants been adequately considered? Yes. Qualitative research workers need to develop a strong relationships with participants in the survey to set up credibleness ( Polit and Beck. 2012 ) . In the article. all the participants were informed the intent of this survey. and a consent signifier was signed by each of them. The research worker besides made phone call to set up clip and topographic point that participants would wish to take for each interview. Besides. they are allowed to show their ain positions at the clip of interview. From the analysis above we can see the participants have been to the full respected by the research worker to derive their trust. Therefore. the relationship between research worker and participants has been adequately considered in this survey ( Al-Qazaz et al 2011 ) . However. there was no reference about reflexiveness by the research worker in this article. Harmonizing to RWJF ( 2008 ) . it described that reflexiveness is a procedure usage to exam researcher’s relationship to the respondent that refers to how the researcher’s values. beliefs. familiarities and involvements influence his/her research. It would be better if it is mentioned about how the research worker located herself or himself in the survey. the readers can place how it affect the information obtaining. that will derive the findings of the research to be more believable ( Polit and Beck. 2012 ) . 7. Have ethical issues been taken into history? Yes. In the survey. a regard for human self-respect was to the full presented based on informing the participants about the intent of survey. administering a consent signifier. and a direct phone contact before interview. The participants have been to the full respected by the research worker to profit every bit good as the individual’s rights. Besides. they are allowed to show their ain positions at the clip of interview. and the participants can take topographic point where they feel more convenience to be interviewed. It gave researcher a opportunity to research the depth-richness informations from participants. and heighten the participants’ liberty and namelessness in the survey. Further more. the survey was besides approved by the local moralss commission. In short. the ethical issues have been taken into the survey every bit good. There was no coercion could be found in the survey. However. the research worker did non advert about the confidentiality and how was data protected. Besides. they did non advert how many times participants understanding were checked before the consent signifier given. Harmonizing to Polit and Beck ( 2012 ) . it is described that it must cover with ethical issues if the surveies affecting human existences. because the human rights must be protected. 8. Be the information analysis sufficiently strict? Yes. In the survey. the research worker has described clearly that a transcript of 12 audiotaped in-depth interviews were dual checked for its truth. And the research worker identified the emerging subjects via line by line informations analysis and coding the relevant content informations into classs until the informations impregnation was met and no more new informations emerging from the interviews. Harmonizing to Polit and Beck ( 2012 ) . informations impregnation is a measuring of sample size that based on informational demands under the survey. It is to accomplish the cogency of informations analysis until no more new information can be obtained. However. the research worker failed to advert about member checking in this survey. It is non clear whether the research worker asked participants to reexamine and notice on the instance summaries or bill of exchanges of the research study. It will consequence the credibleness of the information. Harmonizing to Polit and Beck ( 2012 ) . member look intoing defined as the research worker confirm their informations truth by supplying a feedback to the participants during informations are being collected to guarantee that participants’ significance were understood. and it is for heightening proof of the research. Further more. the research worker mentioned their informations were analyzed by utilizing agencies of a standard content analysis model. Its purpose was achieved by a appropriate phenomenological design in this survey which have been discussed in inquiry two. Furthermore. the asperity and cogency can besides ensue in developing trustiness of qualitative research. and the five standard for rating the trustiness in the research include in credibleness. dependableness. confirmability. transferability. and genuineness ( Polit and Beck. 2012 ) . In the survey. a phenomenological design was conducted with a semi-structured interview of informations aggregation. and coding method for informations analysis. this can be sufficiently proved its credibleness. dependableness. and confirmability. Therefore. it can be said the information analysis of this survey is sufficient strict. 9. Is at that place a clear statement of findings? Yes. Four major subjects were clear stated in the survey which included ( 1 ) . Participants’knowledge about type 2 diabetes and its medicines ; ( 2 ) . Side-effects of medicines ; ( 3 ) . attachment issues ; ( 4 ) . relationship with household on wellbeing ( Al-Qazaz et al 2011 ) . Harmonizing to Polit and Beck ( 2012 ) . the research workers interpret the information by rereading. categorizing and cryptography. so developing a information analysis to indicate out the subjects into a incorporate whole. In this survey. the research worker used qualitative design to see progressively the transferability of the findings to reflect the true experiences of the participants. It is relevancy and accurately from the information. and give reader thought to the deductions of the survey for future research and pattern. Meanwhile. the research worker are in the best place to show their restrictions what they have been cognizant from the survey. Consequently. it told readers that the rese arch workers have done what they could make to vouch the findings were clearly and accurately every bit good. 10. How valuable is the research? The intent of qualitative research findings was described to research participants’ experiences to develop a specific nursing intercession for bettering a better results of patients. and as a potentially applicable grounds influencing in future pattern ( NCBI. 2011 ) . Overview this survey. a phenomenological attack that explore the purpose of the research. it is to understand the experience of participants. their cognition about type 2 diabetes. and the factors of medicine attachment in Malaysia. Besides. it allows a deep apprehension about cognition and feeling of participants ( Polit and Beck. 2012 ) . Furthermore. a semi-structured interview was used to supply rich and elaborate information during the survey for its cogency ( Polit and Beck. 2012 ) . Further. a convenience trying recruited participants and pull out the greatest possible information to accomplish informations impregnation for its cogency. Meanwhile. the ethical issues has been taken into history by the research workers to profit every bit good as the individual’s rights. On the other side. the research worker demonstrated their restrictions what they aware of the survey to heighten the findings more clearly and accurately. Sing quantitative findings. it is non generalizable that can be applied to full populations. nevertheless. it is generalizable in a manner this peculiarly pertinent to nursing pattern in which there is an outlook that scientific determination. and supply cognition about human experiences to readers for future research. Thus it can be seen. the research is rather valuable. Decision Critical assessment is a procedure to judge weather a research is usefulness or its findings are trusty ( Young and Solomon. 2009 ) . The Critical Appraisal Skills Programme ( CASP ) produced a simple critical assessment checklist usher people developing their accomplishments what they need to do sense of scientific grounds ( Burls. 2009 ) . All of above. by following the CASP checklist in quantitative research. it was presented a Randomized Controlled Trial Appraisal Tool. to measure the effectivity of intercession. a big sample size and a blinding to accomplish the dependability of the result and prevent prejudice. a intention-to-treat analysis to compromise the cogency of the survey. Furthermore. generalizability of the survey can be patterns in other states and helpful for farther survey. However. in qualitative research. the CASP is helped to understanding people’s lived experience and research participant’s experience of taking the drugs. beliefs about the efficaciousness of the drug. side-effects and the attachment of intervention government. A phenomenological method has been used in the qualitative survey through a semi-structured interview. convenience sampling and coding to uncover patient’s beliefs and experiences. and leting apprehension of the cognition and get bying schemes in which the quantitative research is unable to cover. More. in this qualitative survey. sample size is tend to be little. and the determination is non generalized ( Polit and Beck. 2012 ) . Both of research workers have considered cogency. findings. and its relevancy. However. in the qualitative article. if the research worker usage a intent trying method and reference about reflexiveness and member checking during informations aggregation. that will heighten cogenc y of the findings to be more accurate. Mention 1. Aveyard H and Sharp P ( 2009 ) A Beginner’s Guide to Evidence Based Practice in Health and Social Care Professions. Glasgow: Open University Press. 2. Al-Qazaz H. Hassali M and Sulaiman S ( 2011 ) Percept and cognition of patients with type 2 diabetes in Malaysia about their disease and medicine: A qualitative survey. Research in Social and Administrative Pharmacy 7: 180-191. 3. Bandolier ( no day of the month ) Intention-to-treat analysis ( ITT ) Available at: hypertext transfer protocol: //www. medical specialty. ox. Ac. uk/bandolier/booth/glossary/itt. hypertext markup language [ Accessed 5/92014 ] . 4. Chan Z. Fung Y and Chien W ( 2013 ) Bracketing in Phenomenology: Merely Undertaken in the Data Collection and Analysis Process? The Qualitative Report. Volume 18. Article 59. 1-9 [ online ] Available at: hypertext transfer protocol: //www. nova. edu/ssss/QR/QR18/chan59. pdf ( accessed 26/10/2014 ) 5. Denzin N and Lincoln Y ( Eds ) ( 2011 ) The SAGE Handbook of Qualitative Research ( 4thedition ) . Thousand Oaks: Sage 6. Human Rights Data Analysis Group ( 2013 ) Convenience Samples: What they are. and what they should ( and should non ) be used for [ online ] Available at: hypertext transfer protocol: //hrdag. org/convenience-samples-what-they-are/ ( accessed 3/9/2014 ) 7. LONDON SCHOOL of HYGLENE and TROPICAL MEDICINE ( no day of the month ) Qualitative methods utile for agribusiness. nutrition and wellness programmes. [ on-line ] Available at: hypertext transfer protocol: //ble. lshtm. Ac. uk/pluginfile. php/54407/mod_resource/content/107/ANH101/sessions/S1S2/ANH101_S1S2_040_010. hypertext markup language ( accessed 28/10/2014 ) 8. Melnyk B. M and Fineout-Overholt E ( Eds ) ( 2010 ) Evidence-Based Practice in Nursing A ; Healthcare: A Guide to Best Practice ( 2nd edition ) . United kingdom: Lippincott Williams and Wilkins. 9. MEDECINS SANS FRONTIERES ( 2007 ) A Guide to Using Qualitative Research Methodology [ online ] Available at: hypertext transfer protocol: //fieldresearch. msf. org/msf/bitstream/10144/84230/1/Qualitative % 20research % 20methodology. pdf ( accessed 28/10/2014 ) 10. Melling A. Ali B. Scott E and Leaper D ( 2001 ) Effects of preoperative warming on the incidence of lesion infection after clean surgery: a randomized controlled test. The lancet. 358: 876-880. 11. NCBI ( 2014 ) A phenomenological survey to research the experiences of Ugandan adult females that have undergone transvaginal ultrasound [ online ] Available at: hypertext transfer protocol: //www. ncbi. nlm. National Institutes of Health. gov/pmc/articles/PMC4175835/ ( accessed 1/9/2014 ) 12. NCBI ( 2011 ) Qualitative Research Findings as Evidence: Utility in Nursing Practice. [ on-line ] Available at: hypertext transfer protocol: //www. ncbi. nlm. National Institutes of Health. gov/pmc/articles/PMC3021785/ [ Accessed 13 Nov. 2014 ] . 13. Polit D and Beck C ( Eds ) ( 2011 ) Nursing RESEARCH Generating and measuring Evidence for Nursing Practice ( 9th edition ) . United kingdom: Lippincott Williams and Wilkins 14. Robert Wood Johnson Foundation ( 2008 ) Qualitative Research Guidelines Project Semi-structured Interviews [ online ] Available at: hypertext transfer protocol: //www. qualres. org/HomeSemi-3629. hypertext markup language [ Accessed 11 Nov. 2014 ] . 15. Robert Wood Johnson Foundation ( 2008 ) Qualitative Research Guidelines Project what is reflexiveness [ online ] Available at: hypertext transfer protocol: //www. qualres. org/HomeRefl-3703. hypertext markup language [ Accessed 12 Nov. 2014 ] . 16. Susan B. S. Fineout-Overholt E. Melnyk B. M and Williamson K. M ( 2010 ) Asking the Clinical Question: A Cardinal Measure in Evidence-Based Practice. The American Journal of Nursing. Vol. 110. No. 3. Available at: hypertext transfer protocol: //www. nursingcenter. com/lnc/pdfjournal? AID=982283 A ; an=00000446-201003000-00028 A ; Journal_ID= A ; Issue_ID= ( accessed 22/10/2014 )

Free Essays on Susan B. Anthony

of the fifteenth amendment, which stated, â€Å"all citizens can vote†, this is why all women also classified themselves as citizens and this meant them too. These women tried every plan they had in order to get congress to pass the law of women voters. Evidently, Anthony and Stanton split their friendship and the women’s movement was put on hold for about twenty years. In 1872, Anthony sparked up the movement once again. During an 1872 Presidential Election in Rochester, NY, Susan B. Anthony was arrested for voting in their election. Females were unable to vote at this time, so this was a shock in the country. At one point, congress accepted Anthony’s registration to vote, and her vote itself. However, as the election proceeded, Congress realized that they could not accept her vote, and advanced on to arresting her at her home, along with other female citizens. She then had to go to trial for an entire year. To hurt her... Free Essays on Susan B. Anthony Free Essays on Susan B. Anthony â€Å"How did Susan B. Anthony Break the Law in 1872?† For many years, women’s organizations have tried to get women the right to vote. These women protested and petitioned and did whatever else they could to make this legal. However, congress still referred this decision. Susan B. Anthony, who was one of the most prominent women in the 19th century politically and socially, was the first to act upon the right to vote. Susan B. Anthony, along with her close friend Elizabeth Cady Stanton worked tirelessly on the advancement of women in the United States. These two women also worked on the termination of slavery, along with women’s rights. Slavery was eventually abolished and they knew their next task to complete was to legalization of women voters. As a citizen of the United States, and also being a taxpayer, Anthony felt it was her right to vote because she supported her country, just as well as the men did. These ideas of Susan and all other women being able to vote arrived from the words of the fifteenth amendment, which stated, â€Å"all citizens can vote†, this is why all women also classified themselves as citizens and this meant them too. These women tried every plan they had in order to get congress to pass the law of women voters. Evidently, Anthony and Stanton split their friendship and the women’s movement was put on hold for about twenty years. In 1872, Anthony sparked up the movement once again. During an 1872 Presidential Election in Rochester, NY, Susan B. Anthony was arrested for voting in their election. Females were unable to vote at this time, so this was a shock in the country. At one point, congress accepted Anthony’s registration to vote, and her vote itself. However, as the election proceeded, Congress realized that they could not accept her vote, and advanced on to arresting her at her home, along with other female citizens. She then had to go to trial for an entire year. To hurt her...

Financial Management Fundamentals Essay Example | Topics and Well Written Essays - 1500 words

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Compare & contrast 4 countries using the majority and proportional Essay

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British Economy from November 2008 to november 2010 Coursework

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An Overview of Indias Banking Sector

An Overview of Indias Banking Sector INTRODUCTION A bank is a financial institution whose primary activity is to act as a payment agent for customers, to borrow and to lend money. ‘BANK the name is derived from the italian word ‘banco, which means ‘desk/bench. The history of banks pave their way back to 3rd millenium B.C. They were probably the religious places where they started off. Then they developed gradually over years and currently it has taken a very complex shape. There are certain financial institutions whicu provide banking services but do not have the banking license,they are called NBFCs. There are various types of banks on the basis of activities and on the basis of ownership and above all is the central bank which is the last resort for all commercial banks in the country. Banks ought to get license for their working as a bank and there are regulations regarding the capital requirements and their reserves. The current scenario of banking industry is bad due to the net interest margin getting thinner because of incresed inflation and resultant hike in repo rates. MEANING AND DEFINITION The definition of a bank varies from country to country. Under English law, a bank is defined as a person who carries on the business of banking, which is specified as conducting current accounts for his customers paying cheques drawn on him, and collecting cheques for his customers. A Bank can be defined as : A bank is an institution that acts as an agent that provides financial services and that holds a banking license granted by bank regulatory authorities for carrying out the most fundamental banking services. There are also financial institutions that provide certain banking services without meeting the legal definition of a bank, a so called non-banking financial company. Banks are a subset of the financial services industry.Banks are a sub set of the financial services industry. Bank can be more clearly understood by the activities it perform: Accepting deposits and granting loans to customers. It also acts as credit intermediary- borrow and lend back-to-back on their own account as middle men. It also act as a collection agent, participate in inter-bank clearing and settlement systems. Issuer of money, in the form of banknotes and current accounts subject to cheque or payment at the customers order. In other words can be said that, Banker includes a body of persons, whether incorporated or not, who carry on the business of banking. HISTORY ‘BANK, the name is derived from the italian word ‘banco , which means ‘desk/bench , used during the Renaissance by Florentines bankers , who used to make their transactions above a desk covered by a green tablecloth. In fact, the word traces its origins back to the Ancient Roman Empire, where moneylenders would set up their stalls in the middle of enclosed courtyards called ‘macella on a long bench called a ‘bancu , from which the words banco and bank are derived. WORLD HISTORY The first banks were probably the religious temples of the ancient world, and were probably established sometime during the 3rd millennium B.C. Banks probably predated the invention of money. Deposits initially consisted of grain and later other goods including cattle, agricultural implements, and eventually precious metals such as gold.There are some extant records of loans from the 18th century B.C. in Babylon that were made by temple priests monks to merchants. Ancient Greece holds further evidence of banking. There is evidence too of credit, whereby in return for a payment from a client, a moneylender in one Greek port would write a credit note for the client who could cash the note in another city. In the late third century B.C., the barren Aegean island of Delos, known for its magnificent harbor and famous temple of Apollo, became a prominent banking center. Ancient Rome perfected the administrative aspect of banking and saw greater regulation of financial institutions and financial practices. Charging interest on loans and paying interest on deposits became more highly developed and competitive. The first modern bank was founded in Italy in Genoa in 1406, its name was Banco di San Giorgio (Bank of St. George). HISTORY OF BANKING IN INDIA: AN OVERVIEW Banking in India originated in the first decade of 18th century with The General Bank of India coming into existence in 1786. This was followed by Bank of Hindustan. Both these banks are now defunct. The oldest bank in existence in India is the State Bank of India being established as The Bank of Bengal in Calcutta in June 1806. The first fully Indian owned bank was the Allahabad Bank, which was established in 1865. By the 1900s, the market expanded with the establishment of banks such as Punjab National Bank, in 1895 in Lahore and Bank of India, in 1906, in Mumbai both of which were founded under private ownership. The Reserve Bank of India formally took on the responsibility of regulating the Indian banking sector from 1935. After Indias independence in 1947, the Reserve Bank was nationalized and given broader powers. Early history At the end of late-18th century, there were hardly any banks in India in the modern sense of the term. Subsequently, banking in India remained the exclusive domain of Europeans for next several decades until the beginning of the 20th century. At the beginning of the 20th century, Indian economy was passing through a relative period of stability. Around five decades have elapsed since the Indias First war of Independence, at that time there were very small banks operated by Indians, and most of them were owned and operated by particular communities. The banking in India was controlled and dominated by the presidency banks, namely, the Bank of Bombay, the Bank of Bengal, and the Bank of Madras which later on merged to form the Imperial Bank of India, and Imperial Bank of India, upon Indias independence, was renamed the State Bank of India. There was potential for many new banks as the economy was growing. many Indians came forward to set up banks, and many banks were set up at that ti me, a number of which have survived to the present such as Bank of India and Corporation Bank, Indian Bank, Bank of Baroda, and Canara Bank. During the Wars The period during the First World War (1914-1918) through the end of the Second World War (1939-1945), and two years thereafter until the independence of India were challenging for the Indian banking. The years of the First World War were turbulent, and it took toll of many banks which simply collapsed despite the Indian economy gaining indirect boost due to war-related economic activities. At least 94 banks in India failed during the years 1913 to 1918. Post-independence The partition of India in 1947 had adversely impacted the economies of Punjab and West Bengal, and banking activities had remained paralyzed for months. In 1948, the Reserve Bank of India, Indias central banking authority, was nationalized, and it became an institution owned by the Government of India. In 1949, the Banking Regulation Act was enacted which empowered the Reserve Bank of India (RBI) to regulate, control, and inspect the banks in India. The Banking Regulation Act also provided that no new bank or branch of an existing bank may be opened without a licence from the RBI, and no two banks could have common directors. Nationalisation By the 1960s, the Indian banking industry has become an important tool to facilitate the development of the Indian economy. Indira Gandhi, the-then Prime Minister of India expressed the intention of the GOI in the annual conference to nationalised the 14 largest commercial banks with effect from the midnight of July 19, 1969. A second dose of nationalisation of 6 more commercial banks followed in 1980. The stated reason for the nationalisation was to give the government more control of credit delivery. With the second dose of nationalisation, the GOI controlled around 91% of the banking business of India. After this, until the 1990s, the nationalised banks grew at a pace of around 4%, closer to the average growth rate of the Indian economy. Liberalisation In the early 1990s the then Narsimha Rao government embarked on a policy of liberalisation and gave licences to a small number of private banks. This move, along with the rapid growth in the economy of India, kickstarted the banking sector in India, which has seen rapid growth with strong contribution from all the three sectors of banks, namely, government banks, private banks and foreign banks. The next stage for the Indian banking has been setup with the proposed relaxation in the norms for Foreign Direct Investment, where all Foreign Investors in banks may be given voting rights which could exceed the present cap of 10%,at present it has gone up to 49% with some restrictions. Current Situation Currently, India has 88 scheduled commercial banks (SCBs) 28 public sector banks (that is with the Government of India holding a stake), 29 private banks (these do not have government stake; they may be publicly listed and traded on stock exchanges) and 31 foreign banks. They have a combined network of over 53,000 branches and 17,000 ATMs. According to a report by ICRA Limited, a rating agency, the public sector banks hold over 75 percent of total assets of the banking industry, with the private and foreign banks holding 18.2% and 6.5% respectively. INDUSTRY DYNAMICS The Indian Banking industry is one of the most robustly developed banking system in the world comprising 28 PSU banks, 33 private banks and 35 foreign banks. Together these are known as scheduled commercial banks (SCBs). Apart form the SCBs, there exists 133 regional rural banks (RRBs) and four local area banks, 1853 urban co-operative banks and 109924 rural co-operative banks. The government of India nationalised 14 banks in 1969 and another six in 1980. Privatisation in the sector was allowed in 1993. ICICI Bank and HDFC Bank were the first to thrive thereafter. PSU major Sate bank of India is one of the 100 largest banks in the world. Industry Size The size of Indias financial and banking sector is quite low when compared to other countries. Omnipresence Banking is the only sector influencing all components of the GDP in one way or the other. It is the only sector that can help you capitalise on all the three key themes of the India growth story — consumption, investment and foreign trade. It drives acts as a source of funds for the infrastructure sector (construction, basic materials like cement metals and engineering). It promotes consumption through its complex machanisms for the FMCG, auto, pharma and the real estate sector. Under penetrated From a Banking and Financial Services perspective, India is an under penetrated market. The total credit as a percentage of GDP is 53% as compared to 80% in case of Japan, 83% incase of Korea.China and Malaysia have the highest credit penetration of 108% and 109% respectively. Retail credit penetration is a measly 13% in India much lower than 61% in Malaysia and 41% 23% in case of Korea and Japan. Also, India is under-insured when it comes to life and non-life insurance (penetration of just 4% in case of life insurance and 1% in case of non life insurance). TYPES OF BANKS  § ON THE BASIS OF ACTIVITIES: Banks activities can be divided into: Retail banking, dealing directly with individuals and small businesses. Business banking, providing services to mid-market business. Corporate banking, directed at large business entities. Private banking, providing wealth management services to High Net Worth Individuals and families. Investment banking, relating to activities on the financial markets Most banks are profit-making, private enterprises. However, some are owned by government, or are non-profits. Central banks are normally government owned banks: charged with quasi-regulatory responsibilities, e.g. supervising commercial banks. They generally provide liquidity to the banking system and act as Lender of last resort in event of a crisis. ON THE BASIS OF OWNERSHIP: Banks as classified on ownership basis can be categorised into: Public banks,owned and managed by government. Private banks,owned and managed by private enterpreneurs. Foreign banks,owned and managed by foreign institutions. Commercial banks Commercial banks can have two meanings: Commercial bank is the term used for a normal bank to distinguish it from an investment bank. Commercial bank can also refer to a bank or a division of a bank that mostly deals with deposits and loans from corporations or large businesses, as opposed to normal individual members of the public (retail banking). Commercial bank is engaged in the following activities: processing of payments by way of telegraphic transfer, EFTPOS, internet banking or other means issuing bank drafts and bank cheques accepting money on term deposit lending money by way of overdraft, installment loan or otherwise providing documentary and standby letter of credit, guarantees, performance bonds, securities underwriting commitments and other forms of off balance sheet exposures safekeeping of documents and other items in safe deposit boxes currency exchange sale, distribution or brokerage, with or without advice, of insurance, unit trusts and similar financial products as a â€Å"financial supermarket† Types of loans granted by commercial banks Secured loan A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral (i.e., security) for the loan. Mortgage loan A mortgage loan is a very common type of debt instrument, used to purchase real estate. Under this arrangement, the money is used to purchase property. Commercial banks, however, are given security a lien on the title to the house until the mortgage is paid off in full. If the borrower defaults on the loan, the bank would have the legal right to repossess the house and sell it, to recover sums owing to it. Unsecured loan Unsecured loans are monetary loans that are not secured against the borrowers assets (i.e., no collateral is involved). These may be available from financial institutions under many different guises or marketing packages: credit card debt, personal loans, bank overdrafts credit facilities or lines of credit corporate bonds Retail banks Retail banking refers to banking in which banks undergo transactions directly with consumers, rather than corporations or other banks. Services offered include: savings and checking accounts, mortgages, personal loans, debit cards, credit cards, and so forth. Investment banks Investment banks are financial intermediaries that perform a variety of services. This includes underwriting, acting as an intermediary between an issuer of securities and the investing public, facilitating mergers and other corporate reorganizations, and also acting as a broker for institutional clients. In other words can be said that, Investment banks help companies and governments raise money by issuing and selling securities in the capital markets (both equity and debt), as well as providing advice on transactions such as mergers and acquisitions Types of investment banks Investment banks underwrite (guarantee the sale of) stock and bond issues, trade for their own accounts, make markets, and advise corporations on capital markets activities such as mergers and acquisitions. Merchant banks were traditionally banks which engaged in trade financing. The modern definition, however, refers to banks which provide capital to firms in the form of shares rather than loans. Unlike venture capital firms, they tend not to invest in new companies. Private banking Private banking is a term for banking, investment and other financial services provided by banks to private individuals disposing of sizable assets. The term private refers to the customer service being rendered on a more personal basis than in mass-market retail banking, usually via dedicated bank advisers. Personalized financial and banking services that are traditionally offered to a banks rich,high net worth individuals (HNWIs). Public banks Banks, which are incorporated, owned and regulated by government. Private banks Private banks are banks that are not incorporated. A non-incorporated bank is owned by either an individual or a general partner(s) with limited partner(s). In any such case, the creditors can look to both the entirety of the banks assets as well as the entirety of the sole-proprietors/general-partners assets. Private banks and private banking can also refer to non-government owned banks in general, in contrast to government-owned (or nationalized) banks. NON-BANKING FINANCIAL CORPORATION Non-bank financial companies (NBFCs) are financial institutions that provide banking services without meeting the legal definition of a bank, i.e. one that does not hold a banking license. Operations are, regardless of this, still exercised under bank regulation. However this depends on the jurisdiction, as in some jurisdictions, such as New Zealand, any company can do the business of banking, and there are no banking licences issued. NBFCs are doing functions akin to that of banks, however there are a few differences: (i) A NBFC cannot accept demand deposits; (ii) it is not a part of the payment and settlement system and as such cannot issue cheques to its customers; and (iii) deposit insurance facility of DICGC is not available for NBFC depositors unlike in case of banks. It is mandatory that every NBFC should be registered with RBI to commence or carry on any business of non-banking financial institution as defined in clause (a) of Section 45 I of the RBI Act, 1934.However, to obviate dual regulation, certain category of NBFCs which are regulated by other regulators are exempted from the requirement of registration with RBI viz. Venture Capital Fund/Merchant Banking companies/Stock broking companies registered with SEBI, Insurance Company holding a valid Certificate of Registration issued by IRDA, or Housing Finance Companies regulated by National Housing Bank. All NBFCs are not entitled to accept public deposits. Only those NBFCs holding a valid Certificate of Registration with authorization to accept Public Deposits can accept/hold public deposits. The NBFCs accepting public deposits should have minimum stipulated Net Owned Fund and comply with the Directions issued by the Bank. There is ceiling on acceptance of Public Deposits. A NBFC maintaining required NOF/CRAR and complying with the prudential norms could accept public deposits as follows: Category of NBFC Ceiling on public deposits AFCs maintaining CRAR of 15% without credit rating. AFCs with CRAR of 12% and having minimum investment grade credit rating. 1.5 times of NOF or Rs.10crore whichever is less. 4 times of NOF LC/IC with CRAR of 15% and having minimum investment grade credit rating. 1.5 times of NOF AFC-Asset financing Company LC-Loan Company IC-Investment Company If a NBFC defaults in repayment of deposit, the depositor can approach Company Law Board or Consumer Forum or file a civil suit to recover the deposits Some other types of banks: An advising bank (also known as a notifying bank) advises a beneficiary (exporter) that a letter of credit (L/C) opened by an issuing bank for an applicant (importer) is available and informs the beneficiary about the terms and conditions of the L/C. The advising bank is not necessarily responsible for the payment of the credit which it advises the beneficiary of. Community development banks (CDBs) are banks designed to serve residents and spur economic development in low- to moderate-income (LMI) geographical areas. When CDBs provide retail banking services, they usually target customers from financially underserved demographics. a custodian bank, or simply custodian, refers to a financial institution responsible for safeguarding a firms or individuals financial assets. The role of a custodian in such a case would be the following: to hold in safekeeping assets such as equities and bonds, arrange settlement of any purchases and sales of such securities, collect information on and income from such assets, provide information on the underlying companies and provide regular reporting on all their activities to their clients A depository bank is a bank organized in the United States which provides all the stock transfer and agency services in connection with a depository receipt program. This function includes arranging for a custodian to accept deposits of ordinary shares, issuing the negotiable receipts which back up the shares, maintaining the register of holders to reflect all transfers and exchanges, and distributing dividends. Islamic banking refers to a system of banking or banking activity that is consistent with Islamic law (Sharia) principles and guided by Islamic economics. In particular, Islamic law prohibits the collection and payment of interest.In addition, Islamic law prohibits investing in businesses that are considered unlawful. A mutual savings bank is a financial institution chartered through a state or federal government to provide a safe place for individuals to save and to invest those savings in mortgages, loans, stocks, Bonds and other securities. An offshore bank is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction that provides financial and legal advantages. Banking Industry Strucure in India CENTRAL BANK A central bank, reserve bank, or monetary authority is the entity responsible for the monetary policy of a country. Its primary responsibility is to maintain the stability of the national currency and money supply, but more active duties include controlling subsidized-loan interest rates, and acting as a bailout lender of last resort to the banking sector during times of financial crisis. ). It may also have supervisory powers, to ensure that banks and other financial institutions do not behave recklessly or fraudulently. History The oldest central bank in the world is the Riksbank in Sweden, which was opened in 1668 with help from Dutch businessmen. This was followed in 1694 by the Bank of England, created by Scottish businessman William Paterson in the City of London at the request of the English government to help pay for a war. Activities and responsibilities Functions of a central bank implementation of monetary policy controls the nations entire money supply the Governments banker and the bankers bank (Lender of Last Resort) manages the countrys foreign exchange and gold reserves and the Governments stock register; regulation and supervision of the banking industry: setting the official interest rate used to manage both inflation and the countrys exchange rate and ensuring that this rate takes effect via a variety of policy mechanisms Monetary policy: Central banks implement a countrys chosen monetary policy. At the most basic level, this involves establishing what form of currency the country may have, whether a fiat currency, gold-backed currency, currency board or a currency union. Currency issuance: Many central banks are banks in the sense that they hold assets (foreign exchange, gold, and other financial assets) and liabilities. Central banks generally earn money by issuing currency notes and selling them to the public for interest-bearing assets, such as government bonds. Interest rate interventions: Typically a central bank controls certain types of short-term interest rates. These influence the stock- and bond markets as well as mortgage and other interest rates. Policy instruments The main monetary policy instruments available to central banks are: open market operation bank reserve requirement interest rate policy credit policy capital adequacy is important, it is defined and regulated by the Bank for International Settlements, and central banks in practice generally do not apply stricter rules. Open Market Operations: Through open market operations, a central bank influences the money supply in an economy directly. Each time it buys securities, exchanging money for the security, it raises the money supply. Conversely, selling of securities lowers the money supply. Buying of securities thus amounts to printing new money while lowering supply of the specific security. Reserve Requirement: Another significant power that central banks hold is the ability to establish reserve requirements for other banks. By requiring that a percentage of liabilities be held as cash or deposited with the central bank (or other agency), limits are set on the money supply. Interest Rate Policy: By far the most visible and obvious power of many modern central banks is to influence market interest rates. The mechanism to move the market towards a target rate is generally to lend money or borrow money in theoretically unlimited quantities, until the targeted market rate is sufficiently close to the target. Central banks may do so by lending money to and borrowing money from (taking deposits from) a limited number of qualified banks, or by purchasing and selling bonds. Capital requirements: All banks are required to hold a certain percentage of their assets as capital, a rate which may be established by the central bank or the banking supervisor. Capital requirements may be considered more effective than deposit/reserve requirements in preventing indefinite lending: when at the threshold, a bank cannot extend another loan without acquiring further capital on its balance sheet. Entry regulation Currently in most jurisdictions commercial banks are regulated by government entities and require a special bank licence to operate. Unlike most other regulated industries, the regulator is typically also a participant in the market, i.e. government owned bank (a central bank). The requirements for the issue of a bank licence vary between jurisdictions but typically incude: Minimum capital Minimum capital ratio Fit and Proper requirements for the banks controllers, owners, directors, and/or senior officers Approval of the banks business plan as being sufficiently prudent and plausible. Banking channels A branch, banking centre or financial centre is a retail location where a bank or financial institution offers a wide array of face-to-face service to its customers ATM. Mail. Telephone banking Online banking Bank crisis liquidity risk -the risk that many depositors will request withdrawals beyond available funds credit risk -the risk that those who owe money to the bank will not repay interest rate risk- the risk that the bank will become unprofitable if rising interest rates force it to pay relatively more on its deposits than it receives on its loans. Profitability A bank generates a profit from the differential between the level of interest it pays for deposits and other sources of funds, and the level of interest it charges in its lending activities. This difference is referred to as the spread between the cost of funds and the loan interest rate. Bank Regulations Bank regulations are a form of government regulation which subject banks to certain requirements, restrictions and guidelines. The objectives of bank regulation, and the emphasis are: Prudential to reduce the level of risk bank creditors are exposed to Systemic risk reduction to reduce the risk of disruption resulting from adverse trading conditions for banks causing multiple or major bank failures Avoid Misuse of Banks to reduce the risk of banks being used for criminal purposes, e.g. laundering the proceeds of crime To protect banking confidentiality Credit allocation to direct credit to favoured sectors . General Principles of Bank Regulation Banking regulations can vary widely across nations and jurisdictions. Thes are some of the general principles of bank regulation throughout the world Minimum Requirements Requirements are imposed on banks in order to promote the objectives of the regulator. The most important minimum requirement in banking regulation is minimum capital ratios. Supervisory Review Banks are required to be issued with a bank licence by the regulator in order to carry on business as a bank, and the regulator supervises licenced banks for compliance with the requirements and responds to breaches of the requirements through obtaining undertakings, giving directions, imposing penalties or revoking the banks licence. Market Discipline The regulator requires banks to publicly disclose financial and other information, and depositors and other creditors are able to use this information to assess the level of risk and to make investment decisions. As a result of this, the bank is subject to market discipline and the regulator can also use market-pricing information as an indicator of the banks financial health. Instruments and Requirements of Bank Regulation Capital requirement The capital requirement is a bank regulation, which sets a framework on how banks and depository institutions must handle their capital. The categorization of assets and capital is highly standardized so that it can be risk weighted. The capital ratio is the percentage of a banks capital to its risk-weighted assets. Reserve requirement The reserve requirement sets the minimum reserves each bank must hold to demand deposits and banknotes. The purpose of minimum reserve ratios is liquidity rather than safety. Corporate Governance Corporate governance requirements are intented to encourage the bank to be well managed and also to achieve certain objectives as to maintain it as a body corporate, maintaining minimum number of members and organisational structure etc. Financial Reporting, Disclosure and Prospectus Requirements Banks may be required to: Prepare annual financial statements according to a financial reporting standard, have them audited, and to register or publish them . Prepare more frequent financial disclosures. Have directors of the bank attest to the accuracy of such financial disclosures. Prepare and have registered prospectuses detailing the terms of securities it issues. Credit Rating Requirement Banks may be required to obtain An Overview of Indias Banking Sector An Overview of Indias Banking Sector INTRODUCTION A bank is a financial institution whose primary activity is to act as a payment agent for customers, to borrow and to lend money. ‘BANK the name is derived from the italian word ‘banco, which means ‘desk/bench. The history of banks pave their way back to 3rd millenium B.C. They were probably the religious places where they started off. Then they developed gradually over years and currently it has taken a very complex shape. There are certain financial institutions whicu provide banking services but do not have the banking license,they are called NBFCs. There are various types of banks on the basis of activities and on the basis of ownership and above all is the central bank which is the last resort for all commercial banks in the country. Banks ought to get license for their working as a bank and there are regulations regarding the capital requirements and their reserves. The current scenario of banking industry is bad due to the net interest margin getting thinner because of incresed inflation and resultant hike in repo rates. MEANING AND DEFINITION The definition of a bank varies from country to country. Under English law, a bank is defined as a person who carries on the business of banking, which is specified as conducting current accounts for his customers paying cheques drawn on him, and collecting cheques for his customers. A Bank can be defined as : A bank is an institution that acts as an agent that provides financial services and that holds a banking license granted by bank regulatory authorities for carrying out the most fundamental banking services. There are also financial institutions that provide certain banking services without meeting the legal definition of a bank, a so called non-banking financial company. Banks are a subset of the financial services industry.Banks are a sub set of the financial services industry. Bank can be more clearly understood by the activities it perform: Accepting deposits and granting loans to customers. It also acts as credit intermediary- borrow and lend back-to-back on their own account as middle men. It also act as a collection agent, participate in inter-bank clearing and settlement systems. Issuer of money, in the form of banknotes and current accounts subject to cheque or payment at the customers order. In other words can be said that, Banker includes a body of persons, whether incorporated or not, who carry on the business of banking. HISTORY ‘BANK, the name is derived from the italian word ‘banco , which means ‘desk/bench , used during the Renaissance by Florentines bankers , who used to make their transactions above a desk covered by a green tablecloth. In fact, the word traces its origins back to the Ancient Roman Empire, where moneylenders would set up their stalls in the middle of enclosed courtyards called ‘macella on a long bench called a ‘bancu , from which the words banco and bank are derived. WORLD HISTORY The first banks were probably the religious temples of the ancient world, and were probably established sometime during the 3rd millennium B.C. Banks probably predated the invention of money. Deposits initially consisted of grain and later other goods including cattle, agricultural implements, and eventually precious metals such as gold.There are some extant records of loans from the 18th century B.C. in Babylon that were made by temple priests monks to merchants. Ancient Greece holds further evidence of banking. There is evidence too of credit, whereby in return for a payment from a client, a moneylender in one Greek port would write a credit note for the client who could cash the note in another city. In the late third century B.C., the barren Aegean island of Delos, known for its magnificent harbor and famous temple of Apollo, became a prominent banking center. Ancient Rome perfected the administrative aspect of banking and saw greater regulation of financial institutions and financial practices. Charging interest on loans and paying interest on deposits became more highly developed and competitive. The first modern bank was founded in Italy in Genoa in 1406, its name was Banco di San Giorgio (Bank of St. George). HISTORY OF BANKING IN INDIA: AN OVERVIEW Banking in India originated in the first decade of 18th century with The General Bank of India coming into existence in 1786. This was followed by Bank of Hindustan. Both these banks are now defunct. The oldest bank in existence in India is the State Bank of India being established as The Bank of Bengal in Calcutta in June 1806. The first fully Indian owned bank was the Allahabad Bank, which was established in 1865. By the 1900s, the market expanded with the establishment of banks such as Punjab National Bank, in 1895 in Lahore and Bank of India, in 1906, in Mumbai both of which were founded under private ownership. The Reserve Bank of India formally took on the responsibility of regulating the Indian banking sector from 1935. After Indias independence in 1947, the Reserve Bank was nationalized and given broader powers. Early history At the end of late-18th century, there were hardly any banks in India in the modern sense of the term. Subsequently, banking in India remained the exclusive domain of Europeans for next several decades until the beginning of the 20th century. At the beginning of the 20th century, Indian economy was passing through a relative period of stability. Around five decades have elapsed since the Indias First war of Independence, at that time there were very small banks operated by Indians, and most of them were owned and operated by particular communities. The banking in India was controlled and dominated by the presidency banks, namely, the Bank of Bombay, the Bank of Bengal, and the Bank of Madras which later on merged to form the Imperial Bank of India, and Imperial Bank of India, upon Indias independence, was renamed the State Bank of India. There was potential for many new banks as the economy was growing. many Indians came forward to set up banks, and many banks were set up at that ti me, a number of which have survived to the present such as Bank of India and Corporation Bank, Indian Bank, Bank of Baroda, and Canara Bank. During the Wars The period during the First World War (1914-1918) through the end of the Second World War (1939-1945), and two years thereafter until the independence of India were challenging for the Indian banking. The years of the First World War were turbulent, and it took toll of many banks which simply collapsed despite the Indian economy gaining indirect boost due to war-related economic activities. At least 94 banks in India failed during the years 1913 to 1918. Post-independence The partition of India in 1947 had adversely impacted the economies of Punjab and West Bengal, and banking activities had remained paralyzed for months. In 1948, the Reserve Bank of India, Indias central banking authority, was nationalized, and it became an institution owned by the Government of India. In 1949, the Banking Regulation Act was enacted which empowered the Reserve Bank of India (RBI) to regulate, control, and inspect the banks in India. The Banking Regulation Act also provided that no new bank or branch of an existing bank may be opened without a licence from the RBI, and no two banks could have common directors. Nationalisation By the 1960s, the Indian banking industry has become an important tool to facilitate the development of the Indian economy. Indira Gandhi, the-then Prime Minister of India expressed the intention of the GOI in the annual conference to nationalised the 14 largest commercial banks with effect from the midnight of July 19, 1969. A second dose of nationalisation of 6 more commercial banks followed in 1980. The stated reason for the nationalisation was to give the government more control of credit delivery. With the second dose of nationalisation, the GOI controlled around 91% of the banking business of India. After this, until the 1990s, the nationalised banks grew at a pace of around 4%, closer to the average growth rate of the Indian economy. Liberalisation In the early 1990s the then Narsimha Rao government embarked on a policy of liberalisation and gave licences to a small number of private banks. This move, along with the rapid growth in the economy of India, kickstarted the banking sector in India, which has seen rapid growth with strong contribution from all the three sectors of banks, namely, government banks, private banks and foreign banks. The next stage for the Indian banking has been setup with the proposed relaxation in the norms for Foreign Direct Investment, where all Foreign Investors in banks may be given voting rights which could exceed the present cap of 10%,at present it has gone up to 49% with some restrictions. Current Situation Currently, India has 88 scheduled commercial banks (SCBs) 28 public sector banks (that is with the Government of India holding a stake), 29 private banks (these do not have government stake; they may be publicly listed and traded on stock exchanges) and 31 foreign banks. They have a combined network of over 53,000 branches and 17,000 ATMs. According to a report by ICRA Limited, a rating agency, the public sector banks hold over 75 percent of total assets of the banking industry, with the private and foreign banks holding 18.2% and 6.5% respectively. INDUSTRY DYNAMICS The Indian Banking industry is one of the most robustly developed banking system in the world comprising 28 PSU banks, 33 private banks and 35 foreign banks. Together these are known as scheduled commercial banks (SCBs). Apart form the SCBs, there exists 133 regional rural banks (RRBs) and four local area banks, 1853 urban co-operative banks and 109924 rural co-operative banks. The government of India nationalised 14 banks in 1969 and another six in 1980. Privatisation in the sector was allowed in 1993. ICICI Bank and HDFC Bank were the first to thrive thereafter. PSU major Sate bank of India is one of the 100 largest banks in the world. Industry Size The size of Indias financial and banking sector is quite low when compared to other countries. Omnipresence Banking is the only sector influencing all components of the GDP in one way or the other. It is the only sector that can help you capitalise on all the three key themes of the India growth story — consumption, investment and foreign trade. It drives acts as a source of funds for the infrastructure sector (construction, basic materials like cement metals and engineering). It promotes consumption through its complex machanisms for the FMCG, auto, pharma and the real estate sector. Under penetrated From a Banking and Financial Services perspective, India is an under penetrated market. The total credit as a percentage of GDP is 53% as compared to 80% in case of Japan, 83% incase of Korea.China and Malaysia have the highest credit penetration of 108% and 109% respectively. Retail credit penetration is a measly 13% in India much lower than 61% in Malaysia and 41% 23% in case of Korea and Japan. Also, India is under-insured when it comes to life and non-life insurance (penetration of just 4% in case of life insurance and 1% in case of non life insurance). TYPES OF BANKS  § ON THE BASIS OF ACTIVITIES: Banks activities can be divided into: Retail banking, dealing directly with individuals and small businesses. Business banking, providing services to mid-market business. Corporate banking, directed at large business entities. Private banking, providing wealth management services to High Net Worth Individuals and families. Investment banking, relating to activities on the financial markets Most banks are profit-making, private enterprises. However, some are owned by government, or are non-profits. Central banks are normally government owned banks: charged with quasi-regulatory responsibilities, e.g. supervising commercial banks. They generally provide liquidity to the banking system and act as Lender of last resort in event of a crisis. ON THE BASIS OF OWNERSHIP: Banks as classified on ownership basis can be categorised into: Public banks,owned and managed by government. Private banks,owned and managed by private enterpreneurs. Foreign banks,owned and managed by foreign institutions. Commercial banks Commercial banks can have two meanings: Commercial bank is the term used for a normal bank to distinguish it from an investment bank. Commercial bank can also refer to a bank or a division of a bank that mostly deals with deposits and loans from corporations or large businesses, as opposed to normal individual members of the public (retail banking). Commercial bank is engaged in the following activities: processing of payments by way of telegraphic transfer, EFTPOS, internet banking or other means issuing bank drafts and bank cheques accepting money on term deposit lending money by way of overdraft, installment loan or otherwise providing documentary and standby letter of credit, guarantees, performance bonds, securities underwriting commitments and other forms of off balance sheet exposures safekeeping of documents and other items in safe deposit boxes currency exchange sale, distribution or brokerage, with or without advice, of insurance, unit trusts and similar financial products as a â€Å"financial supermarket† Types of loans granted by commercial banks Secured loan A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral (i.e., security) for the loan. Mortgage loan A mortgage loan is a very common type of debt instrument, used to purchase real estate. Under this arrangement, the money is used to purchase property. Commercial banks, however, are given security a lien on the title to the house until the mortgage is paid off in full. If the borrower defaults on the loan, the bank would have the legal right to repossess the house and sell it, to recover sums owing to it. Unsecured loan Unsecured loans are monetary loans that are not secured against the borrowers assets (i.e., no collateral is involved). These may be available from financial institutions under many different guises or marketing packages: credit card debt, personal loans, bank overdrafts credit facilities or lines of credit corporate bonds Retail banks Retail banking refers to banking in which banks undergo transactions directly with consumers, rather than corporations or other banks. Services offered include: savings and checking accounts, mortgages, personal loans, debit cards, credit cards, and so forth. Investment banks Investment banks are financial intermediaries that perform a variety of services. This includes underwriting, acting as an intermediary between an issuer of securities and the investing public, facilitating mergers and other corporate reorganizations, and also acting as a broker for institutional clients. In other words can be said that, Investment banks help companies and governments raise money by issuing and selling securities in the capital markets (both equity and debt), as well as providing advice on transactions such as mergers and acquisitions Types of investment banks Investment banks underwrite (guarantee the sale of) stock and bond issues, trade for their own accounts, make markets, and advise corporations on capital markets activities such as mergers and acquisitions. Merchant banks were traditionally banks which engaged in trade financing. The modern definition, however, refers to banks which provide capital to firms in the form of shares rather than loans. Unlike venture capital firms, they tend not to invest in new companies. Private banking Private banking is a term for banking, investment and other financial services provided by banks to private individuals disposing of sizable assets. The term private refers to the customer service being rendered on a more personal basis than in mass-market retail banking, usually via dedicated bank advisers. Personalized financial and banking services that are traditionally offered to a banks rich,high net worth individuals (HNWIs). Public banks Banks, which are incorporated, owned and regulated by government. Private banks Private banks are banks that are not incorporated. A non-incorporated bank is owned by either an individual or a general partner(s) with limited partner(s). In any such case, the creditors can look to both the entirety of the banks assets as well as the entirety of the sole-proprietors/general-partners assets. Private banks and private banking can also refer to non-government owned banks in general, in contrast to government-owned (or nationalized) banks. NON-BANKING FINANCIAL CORPORATION Non-bank financial companies (NBFCs) are financial institutions that provide banking services without meeting the legal definition of a bank, i.e. one that does not hold a banking license. Operations are, regardless of this, still exercised under bank regulation. However this depends on the jurisdiction, as in some jurisdictions, such as New Zealand, any company can do the business of banking, and there are no banking licences issued. NBFCs are doing functions akin to that of banks, however there are a few differences: (i) A NBFC cannot accept demand deposits; (ii) it is not a part of the payment and settlement system and as such cannot issue cheques to its customers; and (iii) deposit insurance facility of DICGC is not available for NBFC depositors unlike in case of banks. It is mandatory that every NBFC should be registered with RBI to commence or carry on any business of non-banking financial institution as defined in clause (a) of Section 45 I of the RBI Act, 1934.However, to obviate dual regulation, certain category of NBFCs which are regulated by other regulators are exempted from the requirement of registration with RBI viz. Venture Capital Fund/Merchant Banking companies/Stock broking companies registered with SEBI, Insurance Company holding a valid Certificate of Registration issued by IRDA, or Housing Finance Companies regulated by National Housing Bank. All NBFCs are not entitled to accept public deposits. Only those NBFCs holding a valid Certificate of Registration with authorization to accept Public Deposits can accept/hold public deposits. The NBFCs accepting public deposits should have minimum stipulated Net Owned Fund and comply with the Directions issued by the Bank. There is ceiling on acceptance of Public Deposits. A NBFC maintaining required NOF/CRAR and complying with the prudential norms could accept public deposits as follows: Category of NBFC Ceiling on public deposits AFCs maintaining CRAR of 15% without credit rating. AFCs with CRAR of 12% and having minimum investment grade credit rating. 1.5 times of NOF or Rs.10crore whichever is less. 4 times of NOF LC/IC with CRAR of 15% and having minimum investment grade credit rating. 1.5 times of NOF AFC-Asset financing Company LC-Loan Company IC-Investment Company If a NBFC defaults in repayment of deposit, the depositor can approach Company Law Board or Consumer Forum or file a civil suit to recover the deposits Some other types of banks: An advising bank (also known as a notifying bank) advises a beneficiary (exporter) that a letter of credit (L/C) opened by an issuing bank for an applicant (importer) is available and informs the beneficiary about the terms and conditions of the L/C. The advising bank is not necessarily responsible for the payment of the credit which it advises the beneficiary of. Community development banks (CDBs) are banks designed to serve residents and spur economic development in low- to moderate-income (LMI) geographical areas. When CDBs provide retail banking services, they usually target customers from financially underserved demographics. a custodian bank, or simply custodian, refers to a financial institution responsible for safeguarding a firms or individuals financial assets. The role of a custodian in such a case would be the following: to hold in safekeeping assets such as equities and bonds, arrange settlement of any purchases and sales of such securities, collect information on and income from such assets, provide information on the underlying companies and provide regular reporting on all their activities to their clients A depository bank is a bank organized in the United States which provides all the stock transfer and agency services in connection with a depository receipt program. This function includes arranging for a custodian to accept deposits of ordinary shares, issuing the negotiable receipts which back up the shares, maintaining the register of holders to reflect all transfers and exchanges, and distributing dividends. Islamic banking refers to a system of banking or banking activity that is consistent with Islamic law (Sharia) principles and guided by Islamic economics. In particular, Islamic law prohibits the collection and payment of interest.In addition, Islamic law prohibits investing in businesses that are considered unlawful. A mutual savings bank is a financial institution chartered through a state or federal government to provide a safe place for individuals to save and to invest those savings in mortgages, loans, stocks, Bonds and other securities. An offshore bank is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction that provides financial and legal advantages. Banking Industry Strucure in India CENTRAL BANK A central bank, reserve bank, or monetary authority is the entity responsible for the monetary policy of a country. Its primary responsibility is to maintain the stability of the national currency and money supply, but more active duties include controlling subsidized-loan interest rates, and acting as a bailout lender of last resort to the banking sector during times of financial crisis. ). It may also have supervisory powers, to ensure that banks and other financial institutions do not behave recklessly or fraudulently. History The oldest central bank in the world is the Riksbank in Sweden, which was opened in 1668 with help from Dutch businessmen. This was followed in 1694 by the Bank of England, created by Scottish businessman William Paterson in the City of London at the request of the English government to help pay for a war. Activities and responsibilities Functions of a central bank implementation of monetary policy controls the nations entire money supply the Governments banker and the bankers bank (Lender of Last Resort) manages the countrys foreign exchange and gold reserves and the Governments stock register; regulation and supervision of the banking industry: setting the official interest rate used to manage both inflation and the countrys exchange rate and ensuring that this rate takes effect via a variety of policy mechanisms Monetary policy: Central banks implement a countrys chosen monetary policy. At the most basic level, this involves establishing what form of currency the country may have, whether a fiat currency, gold-backed currency, currency board or a currency union. Currency issuance: Many central banks are banks in the sense that they hold assets (foreign exchange, gold, and other financial assets) and liabilities. Central banks generally earn money by issuing currency notes and selling them to the public for interest-bearing assets, such as government bonds. Interest rate interventions: Typically a central bank controls certain types of short-term interest rates. These influence the stock- and bond markets as well as mortgage and other interest rates. Policy instruments The main monetary policy instruments available to central banks are: open market operation bank reserve requirement interest rate policy credit policy capital adequacy is important, it is defined and regulated by the Bank for International Settlements, and central banks in practice generally do not apply stricter rules. Open Market Operations: Through open market operations, a central bank influences the money supply in an economy directly. Each time it buys securities, exchanging money for the security, it raises the money supply. Conversely, selling of securities lowers the money supply. Buying of securities thus amounts to printing new money while lowering supply of the specific security. Reserve Requirement: Another significant power that central banks hold is the ability to establish reserve requirements for other banks. By requiring that a percentage of liabilities be held as cash or deposited with the central bank (or other agency), limits are set on the money supply. Interest Rate Policy: By far the most visible and obvious power of many modern central banks is to influence market interest rates. The mechanism to move the market towards a target rate is generally to lend money or borrow money in theoretically unlimited quantities, until the targeted market rate is sufficiently close to the target. Central banks may do so by lending money to and borrowing money from (taking deposits from) a limited number of qualified banks, or by purchasing and selling bonds. Capital requirements: All banks are required to hold a certain percentage of their assets as capital, a rate which may be established by the central bank or the banking supervisor. Capital requirements may be considered more effective than deposit/reserve requirements in preventing indefinite lending: when at the threshold, a bank cannot extend another loan without acquiring further capital on its balance sheet. Entry regulation Currently in most jurisdictions commercial banks are regulated by government entities and require a special bank licence to operate. Unlike most other regulated industries, the regulator is typically also a participant in the market, i.e. government owned bank (a central bank). The requirements for the issue of a bank licence vary between jurisdictions but typically incude: Minimum capital Minimum capital ratio Fit and Proper requirements for the banks controllers, owners, directors, and/or senior officers Approval of the banks business plan as being sufficiently prudent and plausible. Banking channels A branch, banking centre or financial centre is a retail location where a bank or financial institution offers a wide array of face-to-face service to its customers ATM. Mail. Telephone banking Online banking Bank crisis liquidity risk -the risk that many depositors will request withdrawals beyond available funds credit risk -the risk that those who owe money to the bank will not repay interest rate risk- the risk that the bank will become unprofitable if rising interest rates force it to pay relatively more on its deposits than it receives on its loans. Profitability A bank generates a profit from the differential between the level of interest it pays for deposits and other sources of funds, and the level of interest it charges in its lending activities. This difference is referred to as the spread between the cost of funds and the loan interest rate. Bank Regulations Bank regulations are a form of government regulation which subject banks to certain requirements, restrictions and guidelines. The objectives of bank regulation, and the emphasis are: Prudential to reduce the level of risk bank creditors are exposed to Systemic risk reduction to reduce the risk of disruption resulting from adverse trading conditions for banks causing multiple or major bank failures Avoid Misuse of Banks to reduce the risk of banks being used for criminal purposes, e.g. laundering the proceeds of crime To protect banking confidentiality Credit allocation to direct credit to favoured sectors . General Principles of Bank Regulation Banking regulations can vary widely across nations and jurisdictions. Thes are some of the general principles of bank regulation throughout the world Minimum Requirements Requirements are imposed on banks in order to promote the objectives of the regulator. The most important minimum requirement in banking regulation is minimum capital ratios. Supervisory Review Banks are required to be issued with a bank licence by the regulator in order to carry on business as a bank, and the regulator supervises licenced banks for compliance with the requirements and responds to breaches of the requirements through obtaining undertakings, giving directions, imposing penalties or revoking the banks licence. Market Discipline The regulator requires banks to publicly disclose financial and other information, and depositors and other creditors are able to use this information to assess the level of risk and to make investment decisions. As a result of this, the bank is subject to market discipline and the regulator can also use market-pricing information as an indicator of the banks financial health. Instruments and Requirements of Bank Regulation Capital requirement The capital requirement is a bank regulation, which sets a framework on how banks and depository institutions must handle their capital. The categorization of assets and capital is highly standardized so that it can be risk weighted. The capital ratio is the percentage of a banks capital to its risk-weighted assets. Reserve requirement The reserve requirement sets the minimum reserves each bank must hold to demand deposits and banknotes. The purpose of minimum reserve ratios is liquidity rather than safety. Corporate Governance Corporate governance requirements are intented to encourage the bank to be well managed and also to achieve certain objectives as to maintain it as a body corporate, maintaining minimum number of members and organisational structure etc. Financial Reporting, Disclosure and Prospectus Requirements Banks may be required to: Prepare annual financial statements according to a financial reporting standard, have them audited, and to register or publish them . Prepare more frequent financial disclosures. Have directors of the bank attest to the accuracy of such financial disclosures. Prepare and have registered prospectuses detailing the terms of securities it issues. Credit Rating Requirement Banks may be required to obtain

european colonization of the americas :: essays research papers

Although there is some debate as to whether the prehistoric, Clovis culture was European in origin, the first generally accepted European colonists were the Norse, starting but then abandoning a colonisation process. (For more on this, see Vinland.) The first phase of modern European activity in this region began with the oceanic crossings of Christopher Columbus (1492-1500), sponsored by Spain, and those of other explorers such as John Cabot, sponsored by England, and Giovanni da Verrazano, sponsored by France and according to some the German Didrik Pining and, the possibly mythical, Polish John of Kolno 1473, sponsored by Denmark. This was followed, notably in the case of Spain, by a phase of conquest: The Spaniards (just having finished a war against the Muslims in the Iberian peninsula) replaced the Amerindian local oligarchies and impose a new religion: Christianity. European diseases and cruel systems of work (the famous haciendas and mining industry) decimated the Amerindian population. Black African slaves were introduced to substitute the Amerindian. On the other hand, the Spaniards did not impose their language in the same measure and the Catholic Church even evangelized in Quechua, Nahuatl and Guarani, contributing to the expansion of these Amerindian languages and equipping them with writing systems. One of the first school for Amerindians was founded by Fray Pedro de Gante in 1523. The Portuguese switched from an initial plan of establishing trading posts to an extensive colonization of what is now Brazil. (See also: Conquistador, Francisco Vasquez de Coronado, Hernà ¡n Cortà ©s, Francisco Pizarro, Spanish Conquest of Yucatan, Treaty of Tordesillas, Treaty of Alcaà §ovas) In the British and French regions, the focus of economy soon shifted from resource extraction to trading with the natives. This was also practiced by the Russians in the northwest coast of North America. After the French and Indian

A Poet Portfolio of James Joyce

James Augustine Joyce was born on the 2nd of February 1882 to a couple in Dublin. Two of his ten siblings died young from typhoid. As a boy, James studied at a boarding school in County Kildare.When his father could no longer pay the fees, the young Joyce transferred to a Christian Brothers school. However, Joyce rejected Catholicism in 1898 although philosophies of St. Thomas Aquinas became a strong influence in him even after he had left the brothers (Bradley 23).He studied modern languages at the University College Dublin in 1898. His first published work was a review of Ibsen's New Drama in 1900 which resulted in a letter of thanks from the Norwegian dramatist himself (Ellmann 13).Joyce left for Paris immediately after graduating. Unfortunately, he ended up squandering what little fortune his family still had. He returned to Ireland shortly after only to witness the final days of his mother who died of cancer in August 13, 1903. James resorted to heavy drinking after his mothers death, at the same time trying to make a meager living out of reviewing books, teaching and singing (Ellmann 15).In 1904, he met a young woman from Connemara by the name of Nora Barnacle who worked as a chambermaid who later on became his wife. The couple moved from Dublin and James experienced a great deal of trouble in finding work (Ellmann 16).James’ two major contributions to poetry are the books Chamber Music which is his first full length collection composed of 36 short lyrics published in 1907 and Pomes Penyeach which was published in twenty years later. (Ellmann 25)James’ works have been highly scrutinized by several well known personalities in their own right such as Mà ¡irtà ­n Ó Cadhain, Jorge Luis Borges, Flann O'Brien, and Samuel Beckett.He died on the 11th of January 1941 following complications after surgery for a perforated ulcer. James Joyce’s life is annually celebrated as Bloomsday every June 16 in Dublin and in other cities around the w orld. (Ellmann 20)

3 jobs you can get with a cosmetology license -TheJobNetwork

3 jobs you can get with a cosmetology license -TheJobNetwork If you’ve recently earned your cosmetology license then congratulations are in order- you’ve worked hard to learn the trade and build the skills necessary to be successful in this fast-growing field. Now, there’s one more step for you to take, and that’s to find a job. If you’re new to the field of cosmetology, you have a reason to be optimistic as you embark upon your career journey- according to the U.S. Department of Labor, employment opportunities for cosmetologists is expected to grow approximately 13 percent over the next decade, faster than the average for all careers. Simply put, as the population grows across most demographic sectors, the demand for the range of services that cosmetologists provide should grow as well, along with the need for talented and credentialed professionals.That’s great news! Now, all you need to do is weigh your options and focus on the type of job you’d like to pursue. Ultimately, your choice of care er path should match your interests, goals, and skill set, but if you’re looking for some ideas, consider the following 3 jobs that you can pursue with your cosmetology license.HairstylistDo you have a knack for styling and making the most out of people’s hair? If so, then consider a career as a hairstylist. Hairstylists are typically motivated self-starters who like working directly with people and genuinely enjoy making others happy with their hair creations and consulting. Although requirements for becoming a licensed hairstylist may vary by state, you can typically get started with a high school diploma or equivalent and licensure.Work opportunities are typically plentiful, and you have the option of working for a salon, renting a chair in a salon, or being your own boss- which means that you can be selective with the type of clientele you’d like to specialize in working with. If this sort of professional opportunity and freedom sounds good to you, and youâ €™ve got the desire and skills, then this may be a smart career move for you.Beauty blogger/vloggerAre you a whiz with words or charismatic in front of the camera, and love nothing more than talking about the world of beauty? If this sounds like you, then consider getting started as a blogger or vlogger. This fast-growing industry has a potential audience of millions of interested individuals who follow what industry leaders, influencers, and tastemakers say about the latest and greatest in makeup, grooming, fashion, and beauty products. The venues available for getting your content to the public are wide, with everything from YouTube or Instagram Stories for video to WordPress for writing and Instagram for photo sharing- it all depends on the sort of content you’d like to make your focus.If you build a large enough following, you can see incredible profits from advertising and sponsorships (not to mention free products from companies who want you to speak about their new offerings). If this sounds like the perfect opportunity for you, then choose a platform, polish your message, and start creating content.EstheticianIf your beauty and grooming interests lie more towards skincare and spa treatments, then consider pursuing a career as an esthetician. These beauty and grooming professionals focus primarily on addressing hair and skincare issues and consulting with individuals on a wide range of issues, from laser hair removal to acne treatment, exfoliation, and personal body care.After completing a state-approved program and passing the required licensing exam, estheticians typically work in health, wellness, beauty, and spa settings, and opportunities exist within existing, established business- or you can start your own business and be the boss. According to the U.S. Department of Labor, â€Å"Employment of skincare specialists is projected to grow 14 percent from 2016 to 2026, faster than the average for all occupations. The desire among many wome n and a growing number of men to reduce the effects of aging will result in employment growth. Good job opportunities are expected.†If you’ve recently earned your cosmetology license and are looking to move forward in your career journey, consider one of these excellent options to make the most of your skills and achieve professional satisfaction and success. Good luck!