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banking terms

  ✍️ 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...

The summer season is India

1. The summer season is India from the beginning of March and continues up to June. Up to February the rays of the sun are soothing and we like to bask in the sun. But in March the season changes. The Sun rays because hotter day by day and we begin to get perspiration. The entire earth becomes heated into his season. 2. In summer, the few hours of the morning ae pleasant. In March the sun does not become too hot before noon, but by April the sun becomes hot by 9 a.m. 3. The sun become very hot by noon in May and June and scorching winds also begin to blow. They it becomes very troublesome. People cannot come out of their homes and all work remains suspended till evening. They cannot work even inside their houses because of heat. Moreover, they do not feel energetic and a sort of dullness comes over them. They feel sleepy in the afternoon. They shut all doors and take rest in the coolest part of the building. 4. People do not get relief even in the evening and at night. They ...

The Rainy season in India

1.        The Rainy season in India start in early July and continues up to September. It comes as a great relief to the world suffering from excessive heat and scorching rays of the sun. Birds, beasts, plants, and human being all welcome the rainy season, because it gives them the much-needed relief. 2.        When the rainy season starts, the sky is very often overcast with clouds and it presents a very beautiful scene. The clouds of different shades and colours move hither and thither in the sky and look very nice. Natural itself wears new apparel. The trees which shed their leaves in the summer come to have new leaves. New grass grows in the dry fields and they look like turf of green velvet. The wind blows away dust from the roads and they look neat and clean. When it drizzles for several days, the Kachcha roads, however, become muddy; Rivers, Ponds, and ditches are filled with water. 3.     ...

The Diwali

1. The Diwali or the festival of lights is an important festival of the Hindus. It is held on the fifteenth day of Kartik. 2. On this day people clean their houses. All men, both rich and poor, get their houses whitewashed. In the night people illuminate their houses with small earthen lamps. Rows of small earthen lamps present a very beautiful sight. In big towns people illuminate their houses with electric bulbs instead of earthen lamps. It is the belief of some people that on the night of the Diwali, Goddess Lakshmi, who is the goddess of wealth, pays a visit to each house. She bestows her blessings on the houses which are neat and clean and turns her face against dirty houses. This is why everyday takes care to clean and decorate his house. In the night people perform the Puja of the goddess and distribute sweets. In Bengal, Kali puja is performed on the night of the Diwali. Some people also indulge in gambling on this day. Boys purchase toys and feel very happy. They also m...

Save Earth Save Life

Save Earth We live on planet earth. We get everything for our life from mother earth. We should save our planet earth to ensure that our future generations get a safe environment. How to save the earth? We can save our planet earth by saving our trees, natural vegetation, natural resources, water, electricity. We can take measures for controlling environmental pollution and global warming. Save trees. We should plant new trees plant trees. The schemes afforestation and reforestation should be wholeheartedly supported. Save natural vegetation. We should use less paper. We can make arrangement for recycling of used paper and other natural products. Plants and trees covers and holds the surface of the earth. Save natural resources. We all know that the supply of natural resources such as minerals, stones, coal, oil, etc. are limited. We can save electricity by putting off the lights when not in use. Or we can switch to fans instead of air conditioners during nights. Save water...

Market Economy: Meaning, Features, Advantages and Disadvantages

Introduction: An economy is usually composed of different players. The economy of a given region basically involves the production, distribution, and consumption of products and services within that area. It entails the activities that people engage in to earn a living. Different types of economies exist. They are namely command, traditional, mixed and market economies. They all vary in how they function, with each having its own advantages and disadvantages. A market economy has been favored by many governments because it promotes free trade by allowing the forces of demand and supply to determine the prices of products and services. Like the other types of economies, it has its unique features as well as advantages and disadvantages. Meaning of Market Economy When we talk about a market economy, what are we really referring to? * A Market economy can simply be defined as a free market, one in which there are no outside authorities charged with determining the prices of goods and ser...

Importance of Agriculture in Indian Economy

 Introduction: India is mainly an agricultural country. Agriculture is the most important occupation for most of the Indian families. In India, agriculture contributes about sixteen percent (16%) of total GDP and ten percent (10%) of total exports. Over 60 % of India’s land area is arable making it the second largest country in terms of total arable land. Agricultural products of significant economic value includes rice, wheat, potato, tomato, onion, mangoes, sugar-cane, beans, cotton, etc. Economic Growth: Agriculture is the backbone of Indian economy. Though, with the growth of other sectors, the overall share of agriculture on GDP of the country has decreased. Still, Agriculture continues to play a dominant part in the overall economic scenario of India. Source of Food for domestic consumption: Food is essential for life. We depend on agricultural outputs for our food requirements. India produces large quantity of food grains such as millets, cereals, pulses, etc. A major portion of...

Brief Note on Importance of Industrial Growth in Indian Economy

The Indian Government understood the importance of industries in India. The industrial policy undertaken on July 1991 by the Congress Government, have been designed to build on the past industrial achievements and to accelerate the process of making Indian industry internationally competitive, with a view to integrate the Indian economy with the world economy. The Industrial Policy of 1991 put more importance on expansion of the private sector to introduce liberalization. While our original industrial policies were characterized by state interventions and control in the industrial sector, the new industrial policy gave more emphasis on de-licensing and decentralization. However the role of the public sector in Indian economic development cannot be denied altogether. Public sector has contributed to a great extent in building the infrastructure, employment generation, capital formation, industrialization etc. in India. In spite of the important role played by the public sector enterpris...

Unemployment : Major Problem in India

One of the major problems of India is unemployment. Unemployment means the state of being without any opportunity of earning one’s livelihood. In the good, old, golden days when the population of the world was smaller, there was hardly a person who was not employed in some way or other to earn a living. But this situation no longer exists. In those days most people lived in the rural areas and depended on agriculture and cottage industries. But industrial civilization brought about a change in the situation. It introduced machines, and as a single machine can do the work of many men, it naturally threw many persons out of employment. No doubt, this industrial civilization has greatly increased the wants of and opened up many new opportunities for employment. But this increase in scope for employment has not been able to absorb the men discharged. However, the automation of works has complicated the unemployment problem in India. The highly sophisticated machineries are run by skilled ...

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

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...

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Blood safety and availability

Blood is needed every two seconds. Hospitals need blood for people who are injured, who undergo surgical procedures, organ transplants, cancer treatments, and treatment for other diseases that affect blood like sickle cell anemia and thalami. Blood can save life.    But the baddest side  is that  ability of blood is more less than in worldwide and if there where is blood that is quietly not safe due to improperly store and more reason.so I am presenting you the report of  WHO report of Blood safety and  availability .. Key Fact Of the 112.5 million blood donations collected globally, approximately half of these are collected in the high-income countries, home to 19% of the world’s population. In low-income countries, up to 65% of blood transfusions are given to children under 5 years of age; whereas in high-income countries, the most frequently transfused patient group is over 65 years of age, accounting for up to 76% of all transfusions. The blood donation rate in high-income countrie...

Question and Answers on GST

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...

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

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...