Skip to main content

Translate Your Page

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...
Post a Comment

Unemployment and its type

Image



Unemployment


It is a situation in which people are ready and willing to work at the existing rate of wages but still, they cannot get work.


Measurement unemployment and employment are done by NSSO (National Sample Survey Organization) in India.


NSSO divide people into the following three categories -
(a) Working people (engaged in an economic activity)
(b) Not working (looking for work)
(c) Neither working nor looking for workPeople in category (a) are called 
People in category (a) are called workforce.
People in category (b) are called unemployed.People in categories (a) and (b) are called Labour force.
People in category (c) are called not in the Labour force.
Number of unemployed = Labour force – Workforce


Unemployment data in India are kept under the Ministry of Labour and Employment.


Types of Unemployment-


Structural Unemployment-


Caused by structural change.


Example- technological change, growing population etc.


Frictional Unemployment-


When people shift from one job to another and remain unemployed during this interval period.


Cyclical Unemployment (Demand Deficiency Unemployment)-


When people are thrown out from the job due to a decrease in demand.


Example- recession


Disguised Unemployment-


In this type of employment, people are employed but their marginal productivity is zero.


Example- One man is engaged in some agriculture work, his friend joins him but the productivity of both remains same. His friends come under disguised unemployment.


Educated Unemployment-


If one educated person not able to get a suitable job suited to his qualification.


Example- Engineering graduate is getting clerk post instead of engineer post.


Open Unemployment-


A condition in which people do not find any work to do.


It includes both skilled and non-skilled people.


Under Unemployment-


When people obtain work but their efficiency and capability are not utilized at their optimum and they contribute in the production up-to a limited level.


Voluntary Unemployment-


In this type of unemployment, jobs are available but individual wants to remain idle.


Example- lazy people, people who have ancestor property do not want to earn.


Natural Unemployment-


2 to 3 % unemployment considered natural and cannot be eliminated.


Chronic Unemployment-


Caused due to the long-term unemployment present in the economy.


Seasonal Unemployment-


In this type of unemployment, people are unemployed for few months of the year.


Example- Farmers


Labels:
By Victor S. Fischer

Comments

Post a Comment

Popular Posts

Sangam Age - The Dawn of History in the Deep South

By Victor S. Fischer
The Megalithic Background Megalith graves were encircled by big pieces of stones. They also contained pottery and iron objects buried with the corpse. They are found in the upland regions of Peninsula with concentration in Eastern Andhra Pradesh and Tamil Nadu State formation and rise of civilization The megalithic people started to reclaim the fertile deltaic lands. The route to the south is called as  Dakshinapatha which became economically important. Megasthenes knew about Pandyas while Ashokan inscriptions mention about Cholas, Pandyas, Keralaputras and Satyaputras Flourishing trade with Roman empire led to the formation of these three states i.e., Cheras, Cholas and Pandyas Sangam Period Sangam period is the period in the history of ancient Tamil Nadu spanning from c. 3 rd  century BC to c. 3 rd  century AD. It is named after the famous Sangam academies of poets and scholars centred in the city of Mad...
Post a Comment
Show Full Post»

Idioms and phrases...

By Victor S. Fischer
1. Acid Test: Meaning -  Acid test proves the effectiveness of something. Example -  I practiced hard at the dance sessions but the acid test will come when the master will assess our solo performances. 2. Cut the ground from under feet : Meaning -  When you cut the ground from under someone's feet, you do something which weakens their position. Example -  When team India hit more than 350 runs in the ODI, they cut the ground from under the opponent's feet. 3. Chase your tail: Meaning -  Spending a lot of time and energy doing a lot of things but actually achieving too little. Example -  He's been chasing his tail all week collecting data but the report is still not ready 4. Whole bag of tricks - Meaning -  Means trying all the clever means to achieve something. Example -  It was really difficult to find the information even after applying the whole bag of tricks. 5. Deliver the goods - Meaning -  Do what is expected or promised. Example -  I have given my car to a new mech...
Post a Comment
Show Full Post»

GST (Goods & Services Tax) : Details & Benefits (In INDIA)

By Victor S. Fischer
The present structure of Indirect Taxes is very complex in India. There are so many types of taxes that are levied by the Central and State Governments on Goods & Services. We have to pay ‘Entertainment Tax’ for watching a movie. We have to pay Value Added Tax (VAT) on purchasing goods & services. And there are Excise duties, Import Duties, Luxury Tax, Central Sales Tax, Service Tax.....😭😭😭😭😭😭😭😭😭 Intro It has been long pending issue to streamline all the different types of indirect taxes and implement a “single taxation” system. This system is called as GST ( GST is the abbreviated form of Goods & Services Tax). The main expectation from this system is to abolish all indirect taxes and only GST would be levied. As the name suggests, the GST will be levied both on Goods and Services. GST was first introduced during 2007-08 budget session. On 17th December 2014, the current Union Cabinet ministry approved the proposal for introduction GST Constitutional Amendment Bil...
Post a Comment
Show Full Post»