Financial Institutions in India

Financial Institutions in India Financial sector plays an indispensable role in the overall development of a country. The most important constituent of this sector is the financial institutions, which act as a conduit for the transfer of resources from net savers to net borrowers, that is, from those who spend less than their earnings to those who spend more than their earnings. Ok, now before continuing to explain the role of financial institutions in the development of industries, lets take a little bit brief detail of financial institutions in Indian context. Financial Institution: Financial Institution is not a new concept in financial history. The evolution of financial institutions must be differentiated from economic history and history of money. In Europe, it may have started with the first commodity exchange, the Bruges Bourse in 1309 and the first financiers and banks in the 1400-1600s in central and Western Europe. The first global financiers the Fuggers (1487) in Germany; the first stock company in England (Russia Company 1553); the first foreign exchange market; the first stock exchange. In financial economics, a financial institution is an institution that provides financial services for its clients or members. Probably the most important financial service provided by financial institutions is acting as financial intermediaries. Most financial institutions are highly regulated by government bodies. Broadly speaking, there are three major types of financial institution. Deposit-taking institutions that accept and manage deposits and make loans; Insurance companies and pension funds; Brokers, Underwriters and investment funds Functions of financial institutions: Why these institutions exit. Or simply saying, what are the basic functions of these financial institutions.? To know the role of these institutions, lets discuss its main functions that they provide. As we have already discussed that, there are numbers of financial institutions in financial market like banks, credit unions, asset management pension providing institutions, risk management institutions, which serve some purposes as follows: Accepting Deposits Providing Commercial Loans Providing Real Estate Loans Providing Mortgage Loans Issuing Share Certificates At the same time, there are several governmental financial institutions assigned with regulatory and supervisory functions. These institutions have played a distinct role in fulfilling the financial and management needs of different industries, and have also shaped the national economic scene. Here is the list of various financial institutions. Maharashtra State Financial Corporation The State Industrial and Investment Corporation of Maharashtra Ltd The Public/National Financial institutions All nationalized banks All scheduled banks All co-operative banks Regional Development corporations Housing Development Finance Corporation Export-Import bank of India So these are the various financial institutions existing in India. All have their own contribution in development of economy of India if we talk about that. Lets talk about State Bank of India (SBI). State Bank Of India: SBI (State Bank Of India) is the largest bank of India. It is considered as 29th most reputable company in the world according to Forbes. It is one of big four banks of India with ICICI bank, Axis bank and HDFC Bank. State Bank of India (SBI) was nationalized in July 1955 under the SBI Act of 1955. Seven banks of SBI formed subsidiary and was nationalized on 19th July, 1960. The State Bank of India is Indias largest commercial bank, as already said above. It serves 90 million customers through a network of 9,000 branches. It has largest ATM network all over India. There are six associate banks that fall under SBI, and together these six banks constitute the State Bank Group. All use the same logo of a blue keyhole and all the associates use the State Bank of name followed by the regional headquarters name. SBI Bank India has 52 Foreign Offices in 34 countries. SBI India serves the international needs of its foreign customers, in addition to conducting retail operations. The focus of the offices of SBI is India-related business. Few of the countries where SBI Bank has branches are as under: Australia Bahamas Bahrain Bangladesh Belgium Bhutan Canada France Germany And also other than these are USA, UK, South Africa and Sri Lanka. Functions of SBI: What are major functions of State Bank of India that are served? Lets try to find answer of that question then we will continue to discuss about its contribution to industrial development of India. As it comes under the category of Public/Nationalized banks, so it has directly link with public and other banks too. The State bank of India acts as an agent of the Reserve Bank of India and performs the following functions: It borrows money from the public by accepting deposits such as current account deposits, fixed deposits and saving deposits. It lends money to merchants and manufacturers for short periods. It also lends to farmers and co-operative institutions. It acts actually as the bankers bank. In discharging this responsibility, the bank provides loans to commercial bank when required and also re-discount their bill. It also acts as the clearing house of the commercial bank. State Bank of India also acts as an agent of Reserve bank of India. As an agent, the State bank of India maintains the treasuries of the State Government. It also performs various subsidiary services also. It collects checks, drafts, bills of exchange, dividends interest, salaries and pensions on behalf of its customers. So these are some of the functions that are performed by SBI. Contribution toward Industrial Development: Coming to major purpose of out term paper assignment, lets discuss about contribution to development of Indian Industries. As we know, financial institutions deal with various financial activities associated with bonds, debentures, stocks, loans, risk diversification, insurance, hedging, retirement planning, investment, portfolio management, and many other types of related functions. With the help of their functions, the financial institutions transfer money or funds to various tiers of economy and thus play a significant role in acting upon the domestic and the international economic scenario. The functions of financial institutions, such as stock exchanges, commodity markets, futures, currency, and options exchanges are very important for the economy. These institutions are involved in creating and providing ownership for financial claims. These institutions are also responsible for maintaining liquidity in the market and managing price change risks. As part of their various services, these institutions provide investment opportunities and help businesses to generate funds for various purposes. If we talk about SBI, the State Bank began an era of expansion, acting as a motor for Indias industrial and agricultural development that was to transform it into one of the worlds largest financial networks. Indeed, by the early 1990s, the State Bank counted nearly 15,000 branches and offices throughout India, giving it the worlds single largest branch network. Industrialization and Financial Institution: As we know that industrialization is the most important method by which any country can make its growth rapid and reliable. In the long-run it is regarded as the means to full employment, high productivity and better living standards. It is also the only way through which other objectives of national economic policy like removal of poverty, balanced regional development and national defense can be effectively realized. In India, at present, we have a fairly well-developed framework to cater to the financial requirements of the industrial sector, specifically of medium and long term finances. With a variegated structure, the financial institutions have played a signified part in the industrial development via investment market and have emerged as backbone of the financial system. State Bank of India has also contributed more in the development of industrial sector of India. Its roles fall in two categories: Qualitative Quantitative State Bank of India for carrying out its business operations, financial institutions implement different types of economic models. It like other financial institutions assists their clients and investors to maximize its profits by rendering appropriate guidance. This financial institution also imparts a wide range of educational programs to educate the investors on the fundamentals of investment and also regarding the valuation of stock, bonds, assets, foreign exchanges, and commodities. Since 1973, bank is actively involved in non-profit activity called Community Services banking. In the words of chairman of SBI, business is more than banking because by this we can touch the lives of people anywhere in many ways. At a macro level, SBI would likely be a key beneficiary of the economy returning back to a potential growth path through rising demand for loans as the economy rebounds to higher activity levels. Further, SBI could raise its productivity in the long run through potential mergers with its subsidiary banks and through revenue/cost synergies. With this, the number of SBI associates would come down to five. Further with a continued rebound in capital market activity and the life insurance and AMC, the business is picking up steam. Whatever the case, it is evidently clear that though the stock is looking a little expensive today, it is and will remain a blue-chip till the India story hold good. If the economy is back on the fast track, the banking system will have to show a robust growth led by none other than this banking behemoth. As there is linear relationship between economic growth and financial institutions, without financial institutions interference, any country cannot imagine growth of its economy. Financial institutions not only help industries by providing direct loans and subsidies to them but also providing finance education and skills indirectly. Since liberalization, the government has approved significant banking reforms. While some of these relate to nationalized banks like encouraging mergers, reducing government interference and increasing profitability and competitiveness, other reforms have opened up the banking and insurance sectors to private and foreign players. Currently, in 2007, banking in India is generally mature in terms of supply, product range and reach-even, though reach in rural India still remains a challenge for the private sector and foreign banks. In terms of quality of assets and capital adequacy, Indian banks are considered to have clean, strong and transparent balance sheets relative to other banks in comparable economies of Asia. The Reserve Bank of India is an autonomous body, with minimal pressure from the government. The stated policy of the Bank on the Indian Rupee is to manage volatility but without any fixed exchange rate. 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. The public sector banks hold over 75% of total assets of the banking industry, with the private and foreign banks holding 18.2% and 6.5% respectively. And if we talk about SBI, it has largest ATM network all over India. SBI is a commercial bank. Commercial banks play an important role in economic development of developing country. Economic development involves investment in various sectors of economy. The banks collect savings from the people and mobilize saving for investment in industrial project. The investors borrow from banks to finance the projects. Promote the growth rate through the reorientation of loan policy. Special funds are provided to the investors for the completion of projects. The banks provide a guarantee for industrial loan from international agencies. The foreign capital flows to developing countries for investment in projects. Besides normal banking the banks perform agency services for the client. The banks buy and sell securities, make rent payments, receive subscription funds and collect utility bills for the Government departments. Thus these banks save time and energy of busy peoples. Banks arrange foreign exchange for the business transaction with other countries. The facility of foreign currency account has resulted in an increase of foreign exchange reserves. By opening a letter of credit the banks promote foreign trade. The banks are not simply collecting funds but also serve as a guide to the customer investment of their funds. The policy of banks is an instrument in wide dispersal of credit in country. It is said that if the banking system in a country is effective, efficient and disciplined, it brings about a rapid growth in the various sectors of the economy. Conclusion: After a deep study about the role of State Bank of India in the development of industrial sector, we arrive at the conclusion that without the financial assistance, the industrial sector cannot seek growth and this financial assistance can only be provided by banking sector, and major contribution to this is by commercial banks. State Bank India generally acts as a development bank and provides short and long term loans to entrepreneurs to invest in new enterprises and adopt new methods of production. As soon as the SBI has caught growth, there has been noticeable growth in trade and industry. BIBLIOGRAPHY www.stockmarketsreview.com//state_bank_of_india_outperforming_itself_20091028_1000070/ http://en.wikipedia.org/wiki/Economy_of_India http://en.wikipedia.org/wiki/India www.statebankofindia.com/ http://www.slideshare.net/Mustafaseady/role-of-commercial-banks-in-the-economic-development-of-a-country www.blurtit.com/q212234.html www.akdn.org/india_economic.asp http://finance.indiamart.com/in_india/state_bank_india.html www.iimcal.ac.in/community/consclub/ppts/bankingAndFinance.pp

Mechanical man: John Broadus Watson and the beginnings of behaviorism Essay

All through history, education and philosophy have come out as ever-evolving pieces of disciplines that are not only interlinked, but also drivers of each other. This is because; education involves the process of passing down information from one informant to another person who will receive it. The way the knowledge or piece of information by the recipient or learner and the informant or teacher, forms the underlying features of the process of education and its overall effect on the society. In addition, there is evidence of numerous factions of educational disciplines that exist in the field and each requires a particular way or method of doing things. Natural sciences, biological sciences, social sciences, humanities and many other areas of educational learning that split from the mainstream disciplines as well as those that are discovered on a day to day basis in the continued development of ways to not only make education much easier, but also make the underlying mental and behav ioral aspects. On the other hand, without philosophy, it is arguably deducible that education and learning would not be in existences today. Practically, education and learning is one of the most important aspects of human life whose absence is an imaginable. Apparently, it is the historical and the proceeding developments and transformations of the philosophical concepts that shape the kind of processes, developments as well as outcomes involved in education. The link between education, theories and philosophies It is in this light that the study of the concepts of structuralism, constructivism, functionalism and the modern behaviorism and cognitivism leads to the understanding that these philosophical as well as empirical studies on educational and learning concepts brings about the result that there has been a progressive development and logical sequence of events in the philosophies which in turn end up bringing about a difference in the understanding of the elements of learning in educations. As such, this paper seeks to look deep into the basic definitions, concepts and effects of the cognitivism, behaviorism and constructivism. The process of this in-depth analysis is based on the basic players involved and the experiments that have been conducted as well as the other ones, which have the potential to prove the association of the elements. From the historical arenas of education processes to the modern conduction of education of various disciplines including aviation, it is possible for a well-crafted idea, full of valid data and logical relations and linking can be presented to bring about the achievement of this objective. In the end, it will be a requirement to join the dots that link these three concepts in such a way that the timeline and concept of use be made evident. With a broad look at each of the issues, the paper seeks to delve into the development and thus, delve into the proof that all these philosophies come about as a way of filling a loophole found in a nother or as a complimentary form of mitigation (Buckley, 1989). Behaviorism Prior to delving into the aspect of behaviorism, it is important to get in touch with the events and concepts that were developed way before this concept and how they have had an influence on the speed as well as the stepping stones for the procession to the eventual use of behaviorism as a way of discerning what happens and goes on in the learning and development process in education. The concepts of structuralism and functionalism have come out as being the key movers and shakers in this process (Kitchener & O’Donohue, 1999). For instance, the schools of thought bring out issues that are different but complimentary to each other such that one phenomenon in one is explained or illustrated by a concept in another. Structuralism is based on the basic nature of all that is in existence and how the basic and smallest particles of material such as atoms act in order to create a particular effect. In psychology therefore, this concept is used as a way of finding and understanding t he internal processes of the mind as a way of knowing the human mental processes from the structural point of view. Functionalism, on the other hand, is a concept that seeks to come out with the principles of understanding the functional aspect of consciousness away from the structural perspective (Watson, 2008). It is from the foundations of the philosophers of the past who came up with experiments and concepts of structuralism and functionalism that the thinking process of creating behaviorism concepts. Having been first brought forth by the John Watson in the early 1900s, a plethora of written materials supported the idea that the study of behavior with a concentration on the extents to which the processes of actions and reaction come about are can be used to understand such concepts as those that influence human behavior (Kitchener & O’Donohue, 1999). Basically, this concept has its key focus on the two-way understanding of the multifaceted relation between a stimulus and a response to it. It is the endeavor of a good psychologist to understand how a stimulus, which is a specific action, event, or sensation that an organism is subjected to, the response on the individual. On the other hand, for the reaction or response of the subject, it should be possible to understand type, or be tter still, the specific stimulus that is responsible for the response (Buckley, 1989). As a consequence of this, other affiliates and sub-branches of the conditioning and classical conditioning have come up as a result of myriads of empirical experiments. Thus, as Watson puts it, in a particular environments, well placed conditioned training as well as the little regard to phylogeny or potential, any individual organism is capable of becoming what they are expected, trained or conditioned to be (Watson, 2008). Cognitionism Whereas the concepts and principles of behaviorism have been used for a long time to come up with an understanding of the underlying and deep-seated issues in learning processes, there was need to understand the process of learning with the point of view that emanates from the study of the thought process, information processing and manipulation as well as the effects on learning. As such, from the early times of scientific and philosophical propositions, it is noted that the search of the understanding of the learning process is spotted with a spectra of footprints of scientists and scholars (Jahnke & Nowaczyk, 1998). Though they use a mixture of various earlier concepts, Charles Darwin’s evolution theory states that from the onset of existence of life, organisms have gone through changes within and without their species in a bid to participate equivalently in the competitive world of the survival for the fittest as well as Dewey’s spiritual approach tend to agree on o ne thing; that organisms and human beings undergo gradual development and depending on the environment, there are possible modifications that come about in order for the organism to better live in their environments. It is for this reason that all eyes then focused into the exploring the key influencer of consciousness and thought as well as the varying effects that come from it (Shettleworth, 2010). Through a number of experiments, it was found that the though process and what affects it, play an important role in determining the learning ability, process and outcomes involved. Apparently, in as much as structuralism and functionalism come close to helping understand the internal process of learning; they are just basic foundations and stepping stones towards the understanding of behavioral, cognitive as well as constructivism. This means that even though Watson puts it across that through behavioral condition in a suitable environment, one can become whatever they are conditioned to be by learning, there are a few variations that can only be explained via the understanding of cognitive processes. Basically, it is a known fact that performance in assessment procedures and tests come out differently for different people. This is because there are a difference in the cognitive aspect of learning that is manifested in the motivation, age and level of intelligence, personality and other traits that influence an individual’s ability to learn. It is also of importance in the understanding of the processes that bring about the differences between the reflective and the impulsive persons as well as turning the stones covering the facts about crystallized and liquid intelligence. One of the most outstanding aspects of cognitivism is the fact that it is related to treatment and not stimuli as in behavioral models. As such, visual effects in learning process, signs, classroom structure, motivation and teaching methods are among the factors to consider when the su bject is under study for the cognitive aspect of learning (Jahnke & Nowaczyk, 1998). Constructivism Notably observed as one of the most dominant forms of education theories that the modern arena of education is based, is presents itself as the latest used form of model by many. Constructivism is defined as the ability of the student or the learner to perceive a new piece of information, store it in the memory and add it to the already existing information in the memory such that the end result is a learning process that is composed of a knowledge based on various building blocks acquired over time. The student, having gone through experiences, read or learnt about the information prior to the current information learnt, is able to add up or relate the piece of information, makes a connection and derives a meaning or conclusion from it. As such, this method is seen as being one that links both the processes of learning involving practical and theory. Through this, it is more possible to the learner than ever before, for the learner to fulfill the main role of education; to make a me aning of life and the thing that surround the human race (Shettleworth, 2010). Application in the aviation industry Logical reasoning and actions that come as a result are of great importance in every working or professional environment. It is important to note that, some more than others, workforce environments require great precision, stability of the mind as well as accuracy of thought in the bid to bring about excellent completion of tasks or assignment. The aviation industry is one of such fields of work, which need great and well-regarded ways of doing things that will come out as evidently efficient and effective. It is for this reason that all involved in this process from their time of training and learning need to be percolated in terms of ability and mental acuity (Reed, 2007). Once this is done, all should be subjected to the widely ranging learning processes that are based on the models mentioned above. Through studying of the learning process with regard to behavior, spatial skills, interpersonal intelligence, intrapersonal intelligence, ability to link pieces of information and fix a problem in the shortest time possible, it is possible to come out with fully baked personnel for the field of work. Even though these methods of evaluating learning processes act as complimentary aspects of the others, it is important to note that many situations vary with what they demand from the person in charge. For this reason, subjection of the learning subject to each of them before evaluation of the ability to use all in combination is a vital idea for the potential personnel for the aviation industry. Moreover, it is through these educationally proven processes that one’s abilities, limitations can be determined, and recommendations made as to the kind of departments in which one is able to fit in. Generally, these educational theories and philosophies have logically evolved over time in a bid to bring about advancements in the field of education and learning process (Reed, 2007). References Buckley, K. W. (1989).  Mechanical man: John Broadus Watson and the beginnings of behaviorism. New York: Guilford Press. Jahnke, J. C., & Nowaczyk, R. H. (1998).  Cognition. Upper Saddle River, N.J: Prentice-Hall. O’Donohue, W. T., & Kitchener, R. F. (1999).  Handbook of behaviorism. San Diego, Calif: Academic Press. Reed, S. K. (2007).  Cognition: Theory and applications. Australia: Wadsworth/Thomson Learning. Shettleworth, S. J. (2010).  Cognition, evolution, and behavior. Oxford: Oxford University Press. Watson, J. B. (2008).  Behaviorism. Tucson, Ariz: West Press.

Lesson Plan Integrating Math and Science - 6407 Words

Lesson Plans: Integrating Math and Science Bernice Richmond Grand Canyon University Lesson Plans: Integrating Math and Science Unit Title: Property Matters Grade Level: 3rd NCTM Standards: Grades 3–5 Expectations: In grades 3–5 all students should– †¢ understand such attributes as length, area, weight, volume, and size of angle and select the appropriate type of unit for measuring each attribute; †¢ understand the need for measuring with standard units and become familiar with standard units in the customary and metric systems; †¢ carry out simple unit conversions, such as from centimeters to meters, within a system of measurement; - See more at:†¦show more content†¦Activity: Pass one fresh and one dry tree branch out to each group. Have the students discuss which one is heavier and which one is lighter. Have the students write down adjectives to describe each branch. For instance, one would be dry and crunchy, while the other one is moist and smooth. Have the groups share their observations with the class and then write down a list of adjectives that they used. Go over with the students how matter has different properties and adjectives help them to describe the properties. Pass out other objects to the students. Have the students work with their groups to analyze each pair of objects and write down a list of words to describe them. Have each group weigh the objects to determine which of the two from each pair is heavier. Have the groups discuss their findings. Next, have the students subtract the first weight from second weight to see the difference. Finally, have the students write their findings in decimal form. Assessment: Discussion, observation sheet. Diverse Learners: Have the students place the objects on a large, two-columned poster paper. Day Four: Can you make it heavier? Objectives: Students will write weight differences as decimals. 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Impact Of Social Media On E Commerce - 1914 Words

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