NPA history india
During the late 1990s, in view of the rising level of bank NPAs, the Narasimham Committee II and Andhyarujina Committee were constituted to examine the scope for banking sector reforms and the need for changes in the legal system to resolve NPAs. These committees suggested a new legislation for securitisation, empowering banks and financial institutions (FIs) to take possession of the securities and sell them without the intervention of the court. Accordingly, the SARFAESI Act (the Act) was enacted in 2002 to provide an enabling environment for resolution of NPAs and for strengthening the financial sector. It provides three alternative methods for recovery of NPAs – securitisation, asset reconstruction and enforcement of security interests. It envisaged the formation of asset reconstruction companies (ARCs) under Section 3 of the Act. ARC’s primary goal is to acquire, manage and recover the financial assets which have been classified as NPAs by the banks/FIs. Presently, there are 24 ARCs in the country. The Reserve Bank has been assigned powers under the Act to regulate and supervise ARCs. An ARC can acquire and keep the financial asset – NPAs – in its own balance sheet or transfer it to one or more trust(s) (set up under Section 7 of the Act) at a price at which the asset was acquired from the originator (secured lender). Most of the deals are structured with a 15 per cent upfront payment to the seller banks/ FIs and issue of security receipts (SRs) for the remaining amount with a defined cash-flow waterfall. Management fee, a primary source of income for ARCs, has priority (after netting the expenses) over redemption of SRs. The trusteeship of such trusts vests with the ARC.
Economics analysis of Business
This material will helps in preparing for the candidates appearing for the Competetive exams that includes UPSC,SSC,State service examinations and as well as the documentary materials for the Class 11 and 12 th students especially the topic deals with the Economics analysis of Business This document makes the readers easily understandable about the concepts and the reviews of NCERT Economics with a diagramatic explanation.
Top 10 high paying part time Jobs for extra income
A great way to– somewhat–maintain your work independence and still survive financially is to work a part time job. Below is a list of 20 side hustles that can help supplement your income or sustain you between ventures: Substitute Teaching I know, I know… substitute teaching is everyone’s nightmare. But, if you can get past the stigma and find a decent school district in your area, you could make quite a bit of dough. Subbing is a flexible, fairly well paying side job that doesn’t require a lot of time, money, energy or expertise to do. You do have to pass a background check, get fingerprinted, and supply references–but you will be working with children. As with tutoring, you are able to pick the age range of the students with which you will work. It is a great way to fill the gap if you find yourself between projects. Waiter/Waitress There’s a reason actors and musicians work in the restaurant business before they make it big– it pays the bills! You can make a pretty penny waiting tables. Earnings, of course are dependent on factors such as the type of restaurant, the location and the patronage. You usually earn a small minimum wage plus tips. And the best thing about tips is you get access to those immediately. The flexibility with this side gig isn’t quite as free-flowing as some others on this list but you can do it part-time and work your “real job” around this schedule. Web-designer If you are tech savvy, creative and understand the basic elements of web design, then this is the job for you. Start ups and new business ventures are being launched daily and one thing they all have in common is the need for a website. Designing and updating a website can be a time consuming headache for a small business owner, which is why web design is such a hot hustle right now. Do your research, set reasonable rates and put yourself out there! Virtual accountant/bookkeeper Similar to virtual assistants, accounting–especially for small businesses and startups–is becoming increasingly more of a part- time endeavor. Many small business and startups don’t have the resources to staff a full time accountant so they will hire a part-time virtual accountant. Qualifications and job experience vary with each position but jobs range from basic bookkeeping and accounting services (invoicing, reconciling, etc.) to more sophisticated services requiring a CPA certification. Nanny Being a nanny or providing child care is a great way to earn some extra cash. If you’re good with kids and have some other skill you can provide–even better! If you can help kids with their homework (tutor), cook nutritious meals, are crafty or can teach kids to play a sport, you can market these skills and set your rates a bit higher. As with anything involving children, you will need to pass a background check. Personal Shopper This is another new and emerging trend in the realm of personal outsourcing. Busy people don’t have time to spend shopping for groceries, pet supplies and other household items–that’s where you come in. We live in an age where time truly is money and this is a great way to capitalize on it. Social Media Strategist If you have a knack for posting content that goes viral or if you have a large Instagram or Twitter following, social media strategist may be the part time job for you. Companies, small businesses and individuals looking to build their personal brand will pay you to post on their behalf and manage their online persona. You’re on social media all day anyway, so you might as well get paid for it. Photographer If you have an iPhone and an eye for detail, you could make some serious cash snapping pics. You don’t need a fancy camera, state-of-the-art equipment or a major platform to become a photographer. The average smart phone has a decent camera and free editing software is available. You can post your pictures on Instagram and market yourself via social media–all for free. All it takes is a bit of practice, tenacity and finding the right niche. Catering This is another side gig that lives and dies by word of mouth. If the food is good and the prices are reasonable–you will always have customers. If you love to cook or bake and have a great signature dish, you’re in business. Hand out free samples, generate some buzz and before you know it, you’ll have a sweet side gig going. Can’t cook? No problem. Catering services are always hiring servers and staff to help set up before and clean up after events. So even if you can’t cook and need some quick cask one weekend, check out local caterers in your area. Retail Working retail-part time is good for the pockets in a couple of ways. First you make money and second most stores offer great employee discounts. All you need is a few hours, a big smile, great interpersonal skills and a helpful attitude. Working retail is great if you prefer something a bit more structured and don’t want the hassle of trying to market yourself and drum up your own business. This list of part-time jobs won’t make you rich but these jobs will help you stay a float. And while this is an eclectic list of side hustles, they all have one thing in common. They all require you to work. If you need extra cash and are willing to put yourself out there, get your hands dirty and do a little work, you can earn some serious loot. Now get up and get to work!
Economic Problem and factors
Economic Problem There is a substantial difference between wants and needs. Human wants are countless, but the means are limited. As the term suggests, the problem in an economy may cause economic problem. So, what's the problem? The problem is scarcity, which means limitation of supply when compared to demand. And the economy faces doldrums. Economic problem is a problem of choice involving satisfaction of unlimited wants out of limited resources. I'll brief the three main reasons for existence of economic problems : 1. Scarcity of resources - Resources are limited in relation to the huge demand and an economy cannot produce all what people demand. To summarise, the basic reason for existence of economic problems. 2. Unlimited Human wants - Do you find this factor a tad bit relatable? Because our wants are relentless and never-ceasing. We always want something that differ in priorities and importance. 3. Alternate Uses - Resources can be put to various uses. One example - Petrol. If it is used for running vehicles, it is also used in running generators. Ergo, economy has to make choice between alternate uses.
A short prelude to globalization
The concept of globalization should not be new to you. Globalization substantially means advancement in the integration and exchange of resources. Now, when there is globalization, there is industrialisation. Unprecedented increase in industrialisation has conventionally led to urbanisation. And don't you think that a rapid increase in urbanisation is largely affecting the primary sector, which is highly exploitative? Primary sector- This sector of economy includes use of natural resources such as agriculture, fishing, mining etc. Now to answer the former question, we need an example. There is a farmer who maintains his livelihood by selling vegetables and by producing grains. Grains such as wheat, rice, paddy and maize. Everything is flowing smoothly. On a sunny day wishing for rain, he gets a very strong feeling that things are going to be devastating. His production fails. All of his money that he had spent on irrigation and buying goods like crops and urea, lost. This was the second year, and his production failed, yet again. Without any further risking, he moves into a city. He searches for a few jobs, and fortunately he gets a new job in tertiary sectory which pays him good enough to maintain his life and livelihood. He starts saving for his children's education. He starts picturing a secure future. There are a few points he notices in both fields when he deeply looks at the status quos. a.) There were no savings when he was into farming, and he dissects the low rate of economic growth. b.) He couldn't see a secure future. c.) Even if this new job doesn't promise him a secure future, he has ideas. He has resources. He has his own savings. He is open to quit this job, and this experience level will help him find a new and a better job than the previous one. d.) Tertiary sector is full of jobs, and not parochial like primary sector. e.) Instability of output of agriculture sector. So, what do we conclude? We conclude that the soared increase in industrialisation, and hence resulting into urbanisation largely affects the primary sector which is very important for less developed countries. Okay, a quick question at the end of this short knowledge segment (brought to you by viden.io). Don't you think the day is not so far when secondary and tertiary sector will superpose the outweigh of primary sector? And oh, the farmer is thinking to relocate his family members to the new city.
Has the WORLD really accepted Globalization??
Has the world actually accepted globalization? By Ravindra Rao From nomads to urban warriors, human kind has seen a drastic and technical transition over centuries, since its inception. We are 'social animal' and have always thrived to mingle and jingle with the society. Integrating ourselves; our emotions, our feelings, our work and what not with people. There was always a sole principle in the back of our mind that distance doesn't matter but the forces does to bind us with the people. All of these sayings can be compressed into a word, i.e. globalization. Globalization has sprouted its way back to many thousands of years. People have been buying from and selling to each other in lands at great distances. Technically, globalization is a process of expansion, integration, interaction and anchoring among entities of different nations driven by international trade and aided by information technology. Well, that was definitely a jargon and to summarize it in a crisp manner globalization is the process by which anyone (individual, business or any organization) can work and operate on an international scale. Since 1950, for example, the volume of world trade has increased by 20 times and it keeps on increasing to 'n' times by every single passing day. During the middle-ages, traces of globalization are found like the famed silk route across central Asia that connected China and Europe. Portuguese and the East India company had deliberately traded with India during 18th, 19th and 20th century. This shows how the world has adopted globalization and is harnessing it. But everyone doesn't have the same perspective to it. Globalization is deeply controversial. However, proponents of globalization argue that it allows poor countries and its citizens to develop economically and raise their standard of living through the free flow of FDI, while opponents of globalization claims that it is the process through which rich and powerful people expand their means to utilize (whether efficiently or not) at the cost of poorer and weaker. All these things whether true or not have certainly undermined the scope of globalization. Certainly, globalization is a platform through which domestic traders and entrepreneurs can compete with international organization and prove their mettle. Had it not been globalization, India which was at the brink of having debt trap in 1990-91 certainly would not be able to develop her economy and to become a nation having fastest developing economy rate in the world. Globalization is the medium through which our culture, our teachings, our skills, our proficient products can be integrated to the global market and provide everyone with the heritage we have. In a rapidly changing world, where every hour, every minute and every single second, we are leaping toward a more scientifically advanced technology, globalization is the key feature through which everyone can get the benefit of it. Many says, it is a harm to our culture, our tradition and it might be true in certain conditions when people starts believing that everything western is superior and start neglecting their own customs. Well, culture and traditions are certainly not penal to abide by but mixing it with western, dissolves the teachings of our ancestors which might hurt cultural sentiments. Gandhi Ji said, "I do not want my house to be walled in on all sides and my windows to be stuffed. I want the culture of all lands to be blown about my house as freely as possible. But I refuse to be blown off my feet by any." This surely explains that he did understand the pros and cons of globalization. With all the hustle and bustle pushing and pulling the flow of international trade, globalization has helped to reach out to thousands and millions of people living in far, distant and remote areas. Globalization is surely integrating domestic market to international market but only this does not reflect the actual scope of globalization. It is the transfer of ideas, sentiments and much more. It is the mean through which savings (money, resources, culture or anything) can mobilized and channelized into a productive use. In the light of realities, the present situation is that rich and big industrialists run few errands to lure and coax poor labourforce of under-developed and developing countries. And the poor people in search of better life prospects and opportunities confirm their candidature. Globalization is about providing equal opportunity to all with free and fair competition and promotes equity. Today, we are living in a dynamic society where every second is passing by with new advancement in technology and developing various innovative courses of action to accomplish and certify a given task. Globalization has paved ways and opened many doors of opportunity for tech-know-how and fresh grads. Many nations have actually suffered a lot for not accepting globalization and sometimes, accepting it becomes a necessity rather than choice. Today, world has become a global village because of globalization. Everything we did earlier can be done now within seconds. Foreign direct investment (FDI), availability of alternatives, discovery of new technology is possible because of globalization. If the world had not accepted globalization, then today the situation must have been strange. So, all thanks to globalization due to which we all are able to interact and integrate ourselves. Internet, a.k.a the world wide web is a catalyst and a component of globalization. It is now very hard to imagine a nation where the economy has not actually not accepted globalization. An isolated nation may not be able to procure and produce resources to fulfill its citizen's needs and demands. The present scenario is that the world has partially accepted globalization in terms of trading purposes and continue to hinder the social and culture elements of globalization. So, this is the high-time when people have to realize the potential of globalization and take it as a nurturing tool. The world consists of individual and is indifferent to everyone. Globalization should positively affect the lives of all people and then it will be sure that the world has actually accepted globalization but till then it is just accepted by riches who bait others and the victim are eventually the poor people. It is sure that "a day" will come when globalization will help everyone to get their 'ambition-work' and executed properly. Platforms like Viden.io are proving to be boon for the students as well as professionals to get their skills amalgamated with proper and executory knowledge. So peeps get your skills harnessed. :)
Economics analysis of Business