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banking terms

By Victor S. Fischer
  ✍️ CRR Cash Reserve Ratio is the minimum fraction of total deposits of a bank’s customers that banks have to hold as reserves with the central bank. ✍️ SLR Statutory Liquidity Ratio is the ratio of liquid assets to the net demand and time liabilities. ✍️ LAF Liquid Adjustment Facility is a tool to allow banks to borrow money through repurchase agreements. It consists of repo and reverse repo operations. ✍️ MSF Marginal Standing Facility allows scheduled banks to borrow funds overnight from RBI against approved government securities. ✍️ MSS Market Stabilization Scheme is a monetary policy intervention by RBI to withdraw excess liquidity by selling government securities in the economy. ✍️ OMO Open Market Operations refers to the buying and selling of government securities in the open market so as to expand or contract the amount of money in the banking system. ✍️ REPO Repo stands for Repurchase agreement where a seller of a security agrees to buy it back from a buyer at a
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Aryans : Who and Where they came from?

By Victor S. Fischer
The word Aryan is usually taken to mean a race but actually it is the name of a language than the people. Hence according to the famous German scholar Max Mueller the term Aryan meant language rather than race. The people who spoke this language came to be called Aryans. As there is a controversy about the location of the original home of the Aryans nothing can be said definitely about the same. The German scholar headed by Kossina placed the original home of the Aryans in the North European plain. The great Indian nationalist Tilak argued that the Aryan came from the North Pole. According to some the original home of the Aryans was Cappadocia while the famous scholar Brandenstein claimed the Ural Sea near Caspian as the original home of the Aryans. But responsible linguists and archaeologists have agreed in regarding the possible region of origin as relatively limited and lying somewhere between the Danube and Oxus. A few Indian scholars, however, advocated the views that the Arya
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Dicipline

By Victor S. Fischer
 Introduction        To be guided by rules, to pay due regard to elders, and superior officers, to obey them and to behave in an orderly manner, all these come under the term discipline. Necessary in every walk of life Discipline is necessary in all walks of life. Whether at school or at home. In the office or in the factory, in the playground or in the battlefield, discipline is a necessary. Without discipline , there will be complete chaos and disorder. There will be no peace and progress. The very social structure will became Topsy-turvy.  This is why, so much stress is laid on discipline everywhere. How necessary in every walk of life In school , if the boys be indiscipline, it will be difficult for the teacher to manage the school. The boys themselves will learn nothing and the very purpose of education will be defeated. Similarly, if the subordinates do not obey their senior officers in offices and factories. It will became difficult to carry on the work
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Essay on Dowry System in India

By Victor S. Fischer
 Dowry System Dowry refers to the valuables, money and other assets brought by the bride to her husband’s home on their marriage. Dowry system refers to the custom or cultural practice that involves giving away of a large sum of cash, property and other valuables at the time of marriage by the parents of the bride to the family of the groom. “Gods reside there where women are worshiped”. Though we know from one ancient culture and quote the above quotation, but things are quote different in our society. Introduction: Dowry system  is among the major social issues in India. The legislative measures against the system are in place. However, all these efforts have failed to effectively eradicate the social evil. Women in India are great victims of dowry system in our society, the male-dominated society. Dowry is illegal only on paper, in judiciary, or in legislature benches. Practically the daughter-in-law is generally treated as the goose that lays the golden egg. On
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Hostel Life

By Victor S. Fischer
        Introduction           In schools and colleges many students some to read from far-off places. They cannot come from and go back to their homes daily. Hence, they live in hostels. Many students live in the hostel even though their homes not far-off. The reason is that in the hostel they get facilities for study. Description           The Hostel life is very pleasant. Students live in their homes under the strict control of their parents and other elders. They cannot talk or move about freely. In the hostel they breathe for the first time an air of regulated freedom. They mix freely with one another.                             In hostel life , the boarders get full opportunity for their mental and physical development.There are arrangements for physical exercises as well as  games and sports in the hostel. They have to live under a strict discipline. They have to obey the rules of the hostel.                             There is superintendent in each ho
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Inflation: Types, Causes, Effects and Remedies

By Victor S. Fischer
Inflation refers to a situation when there is an overall increase in the prices of goods leading to a general decline in the value o  Types We will discuss the two major types of inflation: 1 . Demand Pull Inflation:   Inflation arises when there is an increase in the supply of money but there is no corresponding increase in the supply of goods useful to the community. Accumulation of more money than before raises the purchasing power of people and stimulates the demand for goods but the supply of the latter being limited, the necessary consequence will be the inflation of the price level. Demand Pull Inflation thus means, in plain words, too much money chasing too few goods. 2. Cost Push Inflation:  When the prices of goods increases because of an increase in the cost of production, it is known as cost push inflation. What causes Inflation? Additional money put in the hands of people naturally creates in them a desire to spend more on goods. The sellers these commodities get more mone
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An Indian Festival Durga Puja

By Victor S. Fischer
1. The Durga Puja is an important festival of India. It takes place in the month of Ashwin from the first to tenth day of the bright fortnight. It is an occasion of great enthusiasm and festivity for the Hindus. On this occasion schools, colleges, and offices are closed for a long holiday. People return to their homes for celebrating the Puja. 2. The puja is celebrated for ten days, but the image is installed on the seventh day. During the last three days the Puja is celebrated with great pomp and gaiety. The Images are of different designs and sizes. They are dressed in fine clothes and decked with beautiful ornaments. Goddess Durga has ten arms in which she holds weapons. During the puja the poor are fed, alms are distributed and Prasad is distributed to the people. 3. The vijaya Dashami is considered to be an auspicious day. On this day people visit their relatives. The people of the trading classes begin their new year from this day. At some places Ramlila is staged and Ravan
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Question and Answers on GST

By Victor S. Fischer
Question No.1: What kind of Taxes will GST replace? Central Excise Tax Service Tax Entertainment Tax All the types of taxes Answer:  GST will remove or replace all the types of taxes that will include Entry Tax, Luxury Tax, Purchase Tax, Octrol, Service Tax, Central Excise Tax etc on goods and services. Question No: 2 What does G stands for in GST? General Global Goods Great Answer:   G in GST stands for Goods and Service Tax Bill Question No: 3 What is GST officially called? GST is also known as The Constitution (One Hundred and Twenty-Second Amendment) Bill, 2014 Question No: 4 To what percent there will be economic growth in the country with the help of GST? The economic growth will be 1- 1.5% per year Question No: 5   What industries will GST benefit? GST will benefit Trade and agriculture industry the most Question No: 6 Will GST benefit Importers OR Exporters? GST will benefit exporters more than importers. Question No: 7 Which areas will be benefitted more by GST? GST will be mo
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