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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...
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An Indian Festival Durga Puja

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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 is killed on the Dashami day.
4. There are various stories connected with the vijaya Dashami. It is said that Ram killed Ravan on this day and performed the Puja of Goddess Durga. Since then it has been celebrated every year on this day. Another story is that one King Suratha performed the Puja on this day. The third is that Goddess Durga killed Mahishasur, a demon, on this day.
5. At some places the Durga Pja is performed twice in a year, in Ashwin and in Chait. The puja of Ashwin is known as Shardiya Puja and that of chait as Basanti Puja. But the Basanti Puja is not very common. In the Puja sacrifice of goats, rams, etc…, is made and those who eat meat take these as Prasad of goddess Durga. The Puja is happy time for all. People put on new clothes. The Joys of children know no bounds. The grown-up people also enjoy it merrily.

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By Victor S. Fischer

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