History Of The Hells Angels - 1163 Words

History of the Hells Angels The Hells Angels were originally a band of military aircrafts that flew over the skies of Europe during the Second World War. The men that served in the Hells Angels were some of the most prestigious and recognized pilots in the history of the military. However, the name now associates itself with one of the most infamous biker gangs that was established by San Bernardino back in 1948. The name has been so tarnished since, that once we hear it, all that we can think about is motorcycles, drugs, alcohol, guns and violence. It began as an idea where motorcycle enthusiast would join together and care for one another at the initial indication of trouble such as a family would. The leaders of the club would recruit prospects and evaluate over a large period of time to determine whether or not they would stand by their new brothers and forever support the organization. Over the years as the Hell’s Angels continue to expand, they found themselves on the antithetical side of the law for numerous reasons. Furthermore, with their growth they found that the ties to the organization itself were strengthening to the point of which if any affiliate of the Hell’s Angels experiences an encounter the Criminal Justice System, every single Angel is anticipated to provide aid in some fashion. This can range from acquiring bail money for the individual or employing a legal professional to combat the charges. The ideology of family is the foundation upon which theShow MoreRelatedThe Tragic Fall Of Satan From Heaven And The Downfall Of Doctor Faustus770 Words   |  4 PagesThe tragic fall of Satan from heaven and the downfall of Doctor Faustus embrace a similar course. Satan was once the most powerful and superior angel in heaven. But because of his pride and arrogance, He trusted to have equall d the most High (Milton, Book 1.1720. 40). Satan waged war against heaven and God, but was defeated and Hurl d headlong flaming from th Ethereal Sky... To bottomless perditi on... and penal Fire (Milton. Book 1.1720. 45-48). Similarly, Doctor Faustus held a higher statusRead MoreDr. Faustus as an Allegory897 Words   |  4 PagesApril 9th 2013 Allegorical Findings in Dr. Faustus by Christopher Marlowe The Tragical History of the Life and Death of Doctor Faustus, or in simpler terms Dr. Faustus, by Christopher Marlowe is said to be based on the German legend of Faust, in which a man sells his soul to the devil for hierarchy and knowledge. No Elizabethan play outside the Shakespeare canon has raised more controversy than Marlowe’s tale of Dr. Faustus. Although there is no agreement concerning the nature of the text andRead MoreHell In John Miltons Paradise Lost : Hell1034 Words   |  5 PagesLost: Hell Term Paper Hell has a very long history; it comes up even before Christianity where the idea of hell has been mentioned across many different cultures. Over the period of many centuries, the concept of hell has changed and developed. To further understand John Milton’s description of hell in his poem â€Å"Paradise Lost† it would be a good idea to look at what the standard notion of hell in Europe before or during the 17th century. When looking back at the middle ages in Europe, hell was thoughtRead MoreAnalysis Of John Milton s Paradise Lost 1071 Words   |  5 PagesGod and his Angels reside. It is atop all creation as a figurative Throne. Representative of the hierarchy of the Universe. Chaos- The fathomless void that separates Heaven and Hell. This chasm is what was before God created light. Earth- Where Eden is, where mankind lives and also the cause for Satan’s jealousy. God gifts his Son Earth and Satan grows envious. Hell- The lowest of the low, here Satan constructs Pandemonium, his demonic castle. From here he plots, with his fallen angels, the downfallRead MoreSatan, Beelzebub, El Diablo And The Old And New Testament1713 Words   |  7 Pagesright hand angel and then he tried to exalt himself to the same level as God and in turn got cast out of heaven along with his followers, one third of the angels. This sentiment is often restated in the new testament with one of the most striking passages being Revelation 12:9 â€Å"The great dragon was hurled down—that ancient serpent called the devil, or Satan, who leads the whole world astray. He was hurled to the earth, and his angels with him.† This places Satan now on earth, not in hell like mostRead MoreThe Tragic Downfall of Faustus in Tragical Histor of Doctor Faustus921 Words   |  4 PagesThe Tragic Downfall of Faustus in Tragical Histor of Doctor Faustus Christopher Marlowe’s Tragical History of Doctor Faustus is about a man who seeks power that comes from knowledge beyond the human realm. Throughout the story, the seven deadly sins are shown and have an impact on Dr. Faustus during his search for ultimate power. However, it is one of these vices of the seven deadly sins that plays a particular and key role in his demise. Pride, creates Dr. Faustus’ inability to repentRead MoreExploring Spirituality in Angels in America1472 Words   |  6 Pagescoming professionals. In his play, Angels in America, Tony Kushner uses religious imagery and biblical references to help his characters find meaning in modern America as well as a means for convincing the audience that prophecy is possible in secular times and to help illustrate the age-old struggle between religious morals and sexuality in the twenty-first century. Tony Kushner, who is of Jewish descent, utilizes Christian and Mormon ideologies in the writing of Angels, but Judaism is by far the mostRead MoreGood Vs Evil Essay1198 Words   |  5 PagesMarlowe’s complex play, The Tragical History of Doctor Faustus, implores readers to evaluate the theological concepts of good versus evil. This play tells a story of an educated man who signs a deal with the devil in order to be on the same level as a God. Through this journey, Faustus fights with himself over the implications of his actions and becomes scared of his impending damnation. Despite a breach of contract, Faustus should be damned at the end of The Tragical History of Doctor Faustus based on theRead MoreSatan in Paradaise Lost and Dantes Inferno1138 Words   |  5 PagesParadise Lost one should note that a reoccurring theme of: â€Å"its better to rule in Hell then be a servant in Heaven,† (Milton.I.263) makes a few significant points regarding make aspects into the neo sis of Satan, but more so the appearance of Satan. The line in itself causes one to believe that he hath experienced both dominions in the physical and may further lead us to the pathogenesis and origins on this fallen Angel. However Milton gives us a contrasting view of the Devil compared to Dante. â€Å"HeRead MoreCharacteristics Of Satan In Paradise Lost906 Words   |  4 PagesEpic tradition has existed long throughout the history of literature, built around the concept of the hero—the protagonist whose talents and admirable characteristics propel them to conquer an impossible task. In the case of John Milton’s Paradise Lost, Satan exists as the protagonists of Milton’s epic, seeking revenge on God for punishing him to the depths of hell for leading a revolt against heaven. However, although Satan’s actions are villainous and sinful, his tale follows that of the traditional

The Chrysanthemums By John Steinbeck Analysis - 949 Words

Biography John Ernst Steinbeck was born in Salinas, California, which is where the short story, â€Å"The Chrysanthemums† is set in 1902. He won the Nobel Prize in Literature and his held in high regard, but not quite as high as Faulkner and Hemingway. Steinbeck died of a heart attack in Salinas, California in 1963 (Levant). Overview Steinbeck published the short story The Chrysanthemums in 1937 and included as part of his collection The Long Valley the following year. In the story, Henry Allen and his wife own a ranch. Elisa, Henry’s wife, is working with her chrysanthemums. He suggests they go to the town, Salinas, to celebrate their new business. A tinker in a wagon turns into their yard. He asks whether she has any work for him,†¦show more content†¦She reveals her hair for the first time in the story. When the tinker leaves, she goes through an entire transformation. She takes her clothes off, takes a bath, examines her nude skin, and then redresses herself. Elisa puts on beautifully feminine underwear, clothes, and makeup. This look draws a stark contrast with her bulky gardening clothes. She is now revealed as a sexualized woman instead of a simple tomboy. At the end of the story, she pulls up her coat collar to cover her tears, implying a return to her repressed state in which she has lived most of her life. The chrysanthemums symbolize both Elisa and the limited scope of her life. Like Elisa, the chrysanthemums are lovely, strong, and thriving. Their flowerbed, like Elisa’s house, is tidy and scrupulously ordered. Elisa explicitly identifies herself with the flowers, even saying that she becomes one with the plants when she tends to them. When the tinker notices the chrysanthemums, Elisa visibly brightens, just as if he had noticed her instead. She offers the chrysanthemums to him at the same time she offers herself, both of which he ignores and tosses aside. His rejection of the flowers also mimics the way society has rejected women as nothing more than mothers and housekeepers. Just like her, the flowers are unobjectionable and also unimportant: both are merely decorative and add little value to the world.Show MoreRelatedThe Chrysanthemums By John Steinbeck Analysis935 Words   |  4 PagesIn John Steinbeck‘s short story â€Å"The Chrysanthemums † Elisa Giv es off the impression that she is not satisfied with her life. She can’t put a finger on her source of discomfort, but knows that she is not quite satisfied with how her life is continuing. Elisa’s husband doesn’t give her the proper attention she is craving, so elisa turns to her only sense of compassion; her garden. Elisa uses her beloved chrysanthemums to express her inner feelings about what it’s like to truly care for something.Read MoreAnalysis Of Chrysanthemums By John Steinbeck971 Words   |  4 PagesChrysanthemums† has many different ideas of what women’s roles are in today’s society. I think one of the key themes is gender inequality. Elisa is a passionate, independent, and a beautiful person inside and out. And no matter what she does or says, her husband will never see her for more than an object. Because the story is written through Elisa’s point of view and is set in 1938. Because of this, it really portrays where women stood at that time. Taking place during winter in Salinas Valley,Read MoreAnalysis Of John Steinbeck s The Chrysanthemums 1256 Words   |  6 PagesComparative Essay In â€Å"Chrysanthemums† john Steinbeck, the author, focuses on Elisa Allen, one of the main characters. She is presented as weak in that her daily activity consisted of tending her garden of chrysanthemums; Steinbeck focuses on how they provide insight into Elisa and how she relates to them, religiously. He implies that even though she fits a weak character, there are places in the narrative at the beginning that suggest some strong points and her longing towards the end. There areRead MoreAnalysis Of John Steinbeck s The Chrysanthemums 1532 Words   |  7 PagesJohn Steinbeck’s short story â€Å"The Chrysanthemums† shows a time when women are controlled and restrained to a traditional lifestyle. It portrays a struggle for equality that is played out through the eyes of the third person narrator. In telling the story, the narrator depicts the story through speech, actions and appearances of the main character, Elisa. Her place in the story is that in a w orld of masculinity during the times of the Great Depression and a fight to keep a bit of her happinessRead MoreAn Analysis Of John Steinbeck s The Chrysanthemums 1025 Words   |  5 PagesRichard Courtney ENG 1110 December 22, 2016 An Unsatisfied Life John Steinbeck’s â€Å"The Chrysanthemums† is a short story about a woman named Elisa and her unhappiness with her life. She is a woman living in a man’s world in the late 1930’s. Elisa and her husband, Henry, are childless. She is confined to a lonely life where she cares for her husband, their farm house, and her precious chrysanthemums. Throughout the story Steinbeck indicates Elisa’s struggle as a woman who wants more out of her lifeRead MoreSymbolism in The Chrysanthemums by John Steinbeck Essay1547 Words   |  7 PagesSymbolism in The Chrysanthemums by John Steinbeck The Chrysanthemums, one of John Steinbecks masterpieces, describes a lonely farmers wife, Elisa Allen. Elisa Allens physical appearance is very mannish yet still allows a hint of a feminine side to peek through. John Steinbeck brings symbolism into play to represent Elisa Allens frustrations and hidden passions. Isolation is another representation through symbolism found in The Chrysanthemums. Elisas failing detached marriage is representedRead MoreThe Chrysanthemums By John Steinbeck982 Words   |  4 Pagesâ€Å"The Chrysanthemums† is a short story written by John Steinbeck. The story was originally published in 1937 before later being released as a part of his The Long Valley collection. This is an important story as it expresses women in a way that is more realistic, showing their true boredom, ambition, and capabilities. Some scholars interpreted this story differently, but C. Kenneth Pellow interprets it as â€Å"radically feministic.† The Great Depression was fi nally ending and women’s rights were risingRead MoreEssay on Analysis of The Chrysanthemums1139 Words   |  5 PagesAnalysis of The Chrysanthemums The short story The Chrysanthemums gives insight into the life of its author. John Steinbeck was born on February 27, 1902, in Salinas, California. The locale of the story is of key resemblance to the Salinas in which Steinbeck was born and bread. Salinas was a typical American small town, [differing] only in location and a few distinctive features (McCarthy 3). The protagonist of this story, Elisa Allen, also resembles Steinbecks first wife. SteinbeckRead MoreCharacter Analysis the Chrysanthemums1220 Words   |  5 PagesEngl. 1302 April 15, 2013 Paper 1 Character Analysis â€Å"The Chrysanthemums† by John Steinbeck John Steinbeck was born in 1902 and lived during what is said to be the most troubled time in American history. Steinbeck was alive during the Dust Bowl paired with the Great Depression, which is believed to be the reason for his almost melancholiac tone in some of his works but he seemed a very diverse writer. Along with â€Å"The Chrysanthemums†, Steinbeck is the author of the well-known and famous novelRead More The Chrysanthemums Essay1649 Words   |  7 PagesJohn Steinbeck’s, The Chrysanthemums, was published in 1938 in a book of short stories, entitled The Long Valley. The Chrysanthemums has been a rather powerful draw for scholars because of its wide gap for interpretations and analysis of its main protagonist character, Elisa Allen and also the unique descriptions used to portray the deeper meaning behind the setting of the story. Themes of sexuality, oppression of women, as well as other numerous types of conflict portrayed in this rather somber

My Interest in College free essay sample

Ever since I was a little girl, my friends would talk about what they wanted to be when they grow up. They would always say stuff like becoming am actor or an actress. Some would say that they wanted to be a singer or a basketball or football player. I always said I wanted to go to collage. Whenever I went to North Carolina to visit my grandparents, they would take me to different collages to see football games and see the bands play. Whenever we would walk around the campus I would see the sororities and fraternities perform in the yard and I told my grandmother that’s what I wanted to do. I think me watching them step in the courtyard had a lot to do with me joining the Danbury High School step team two years in a row. The whole college experience has always been interesting to me. We will write a custom essay sample on My Interest in College or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page I think it’s a good opportunity not only to learn about something you love everyday, but to experience life away from your parents and on your own. I think that college helps build a better and more secure future. It gives students a chance see what it’s like to learn on a new level. College builds a better person. It gives your future some security and success. It opens the door to a lot of new experiences. Career choice is to be a counseling psychologist. I think it’s a good way to get inside people’s head and gain their trust. Knowing that someone trusts you is one of the best feelings in the world. I believe that going to college will help me do that. Me personally, I think that college will help me learn to stand on my own and not depend on my family to shelter me because going to college is not just about education, it’s about life experiences. I also think that it will give me a better learning experience and a chance to expand my education. I know where I’m going in life and I really think that college will help me get there. I think that even after you graduate, college can open up doors in your career and take it to the next level. One thing I hope to gain from college is self-discipline. When you’re in college you don’t have anyone in your ear telling you to get up for class, you have to do it for yourself and be responsible for your own decisions. So, in conclusion I think that going to college is the biggest step to making my dream come true. I think that it will shape me into the person that I am going to be. I know that it will give my future security. I hope that it will open many doors and introduce me to new experiences. I know that it will give me many opportunities that I never dreamed of and take me one step closer to my future and my goals. I have a lot of ambitions and I know that college will help me fulfill them.

National interest, Nationalism, Federalism, Democracy an Example of the Topic Psychology Essays by

National interest, Nationalism, Federalism, Democracy National interest The national interest is a nation's goals and objectives whether financial, military, or cultural. The concept is an essential one in global relations where recreation of the national interest is the base of the realist school. The national interest of any country is multi faceted. Primary is the survival and safety of the country. The pursuit of capital and financial growth and power is as well essential. Several countries, particularly in present era, consider the preservation of the nation's culture as of big significance. Need essay sample on "National interest, Nationalism, Federalism, Democracy" topic? We will write a custom essay sample specifically for you Proceed Background and controversial problems In early human background of the national interest was regularly analyzed as inferior to that of ethics or religion. To connect in a war rulers required to rationalize the action in these contexts. The first thinker to advocate for the dominance of the national interest is generally known to be Niccol Machiavelli. The practice of National interest was initially observed as being employed by France in the 30 Years' War when it occurred on the Protestant side, even though its own Catholicism, to block the growing influence of the Holy Roman Empire. The concept of the national interest soon came to govern European politics that became severely competitive over the subsequently centuries. States may possibly now frankly embark on wars simply out of self-interest. Mercantilism can be seen as the financial justification of the violent recreation of the national interest. With hegemonic stability theory, the notion of the United States national interest was prolonged to comprise the preserv ation of open sea lanes and the maintenance and development of free trade. These notions turned into much criticized after the bloody disaster of the 1st World War, and the thought of the balance of power was changed with the thought of collective safety, whereby all members of the League of Nations would consider an attack upon one as an attack upon every one, therefore deterring the use of violence for all time. The League of Nations was not able to work, somewhat since the U.S. declined to join and somewhat for the reason that, in practice, states did not forever find it in the national interest to discourage each other from the use of power. (David 1995, p. 1) The events of World War II led to a rebirth of Realist and then Neo-realist thought, as worldwide relations theorists re-emphasized the function of power in worldwide governance. Nowadays, the theory of the national interest is often linked with political Realists who wish to distinguish their policies from idealistic policies that inquire about either to inject ethics into foreign policy or encourage solutions that rely on bilateral institutions which might fail the sovereignty of the state. (Tamir 1993, p. 1) As substantial disagreement exists in each country over what is or is not included in the national interest, the expression is as often raised to justify isolationist and pacifistic policies as to justify dominant or aggressive policies. (Gerard 2005, p. 1) Nationalism Nationalism is an ideology that holds that a nation is the primary unit for human social life, and takes priority over any other social and political ethics. Nationalism naturally makes definite political claims based upon this principle: especially, the argument that the nation is just completely legitimate basis for the state, that every nation is allowed to its own state, and that the borders of the state ought to be fitting with the borders of the nation. Nationalism refers to both a political doctrine and some communal action by political and social movements for particular nations. Nationalism as ideology comprises ethical principles: that the moral duties of individuals to fellow members of the nation dominate those to non-members. Nationalism states that national loyalty, in case of variance, overrides local loyalties, and all other loyalties to family, friends, occupations, religion, or class. (Ernest 1983, p. 45) Types of nationalism Nationalism may manifest itself as part of official state ideology or as a popular (non-state) movement and may be expressed along civic, ethnic, cultural, religious or ideological lines. These self-definitions of the nation are used to classify types of nationalism. (John 2000, p. 1) on the other hand, such categories are not commonly exclusive and many nationalist movements merge some or all of these elements to unreliable degrees. Nationalist movements can moreover be classified by other criteria, for instance scale and location. Background and problems Definite examples of nationalism are very different, the problems and matters are emotional, and the variances often bloody. The theory of nationalism has constantly been complex by this background, and by the imposition of nationalist ideology into the theory. There are as well national variations in the theory of nationalism, because people describe nationalism on the basis of their local practice. Theory and media coverage might exaggerate conflicting nationalist movements, ethnic stress, and war - switching attention from common theoretical issues; such as, the characteristics of nation-states. (Margaret 1996, pp. 18-20) Nationalist movements are enclosed by other nationalist movements and nations, and this may color their version of nationalism. It could focus simply on independence, and disregard other nations. When conflicts occur, though, ideological attacks upon the identity and legitimacy of the 'enemy' nationalism may turn into the focus. In the Israeli-Palestinian conflict, such as, both sides have claimed that the other is not a 'real' nation, and consequently has no right to a state. Jingoism and chauvinism make exaggerated claims about the dominance of one nation over another. National stereotypes are as well general, and are usually insulting. This type of negative nationalism, directed at other nations, is surely a nationalist phenomenon, however not an adequate basis for a universal theory of nationalism. (Eric 1992, p. 12) Federalism Federalism is defined as a political philosophy in which a group or body of members are bound together with a governing representative head. Further defining Federalism, it is a system of government in which self-government is constitutionally divided between a central governing authority and constituent political units similar to states or provinces, creating what are repeatedly called a federation. Proponents are known as federalists a lot. Federalism in Canada means opposition to sovereignties movements generally in Quebec. In Europe, federalist is often used to explain those who support a stronger federal government or European Union government and weaker provincial governments. On the other hand, in recent years in America federalism has come to be coupled with opponent to a stronger federal government. (Rogers 1996, p. 1) Democracy The case for federalism is complex by federalist theory, which disagrees that federalism gives a robust constitutional system that anchors pluralist democracy, and that it improves democratic participation all the way through providing dual citizenship in a complex republic. The typical declaration of this position can be found in The Federalist, which argued that federalism helps preserve the principle of due process, limiting arbitrary action by the state. Primary federalism can limit government authority to violate rights, while it creates the chance that a legislature wishing to control liberties will lack the constitutional power, whereas the level of government that possesses the power lacks the desire. Subsequently, the legalistic decision making processes of federal systems control the pace with which governments can act. The argument that federalism helps to secure democracy and human rights has been influenced by the contemporary public choice theory. It has been argued that in smaller political units, individuals can participate more directly than in a monolithic unitary government. Moreover, individuals disappointed with circumstances in one State have the decision of moving to another. Certainly, this argument assumes that a freedom of movement among States is essentially protected by a federal system. Some U.S. politicians have histories of rejecting civil liberties to black people, women, and others. Conversely, the laws and constitutions of several states have confined such minorities with legal rights and securities that surpass those of the U.S. Constitution and the U.S. Bill of Rights. (Benedict 1998, pp. 45-55) The U.S. Constitution produced a federal government with enough powers to both represent and unite the states, however did not displace state governments. This federal arrangement, by which the central federal government exercises delegated power over several issues and the state governments apply power over other issues, is one of the essential characteristics of the U.S. Constitution that ensures governmental power. References Breuilly, John. 1994. Nationalism and the State. 2nd ed. Chicago: Chicago University Press. Canovan, Margaret. 1996. Nationhood and Political Theory. Cheltenham, UK: Edward Elgar. Gellner, Ernest. 1983. Nations and Nationalism. Ithaca: Cornell University Press. Hobsbawm, Eric J. 1992. Nations and Nationalism Since 1780: Programme, Myth, Reality. 2nd ed. Cambridge University Press Delanty, Gerard and Krishan Kumar (eds) 2005 Handbook of National interest. London: Sage Publications Juergensmeyer, Mark. 1993. The New Cold War: Religious Nationalism Confronts the Secular State. Berkeley: University of California Press Miller, David. 1995. On national interest. Oxford University Press Tamir, Yael. 1993. National interest. Princeton University Press Anderson, Benedict. 1998. The Spectre of Comparison: Federalism, U.S. and the World. London: Verso. Brubaker, Rogers. 1996. Federalism: Federation and the National Question in the New Europe. Cambridge University Press

How To Make An Infographic In 7 Easy Steps

How To Make An Infographic In 7 Easy Steps Infographics are 30 times more likely to be read than a purely textual article. Love them or hate them, they are a rising content type for reaching your audience. Infographics are also the highest shared content type and therefore, one of the best and quickest ways to communicate data to your audience. As a designer who loves numbers, I personally fall into the ‘love’ category with infographics, but I realize that not everyone has been taught how to make this popular content type. While infographics are easy to digest, they’re not necessarily easy to create, so I hope to enlighten you in how to make an infographic in 7 easy steps from research all the way to publishing. Alright, lets do this! #Infographics are 30 times more likely to be read than a purely textual article. via @ashtonwirrenga 1. Find A Topic Before beginning any project, we must begin with two questions: ‘What?' and ‘Why?' We should know exactly what the goal of each project is, and exactly why it’s important. If you skip these two questions, two outcomes are bound to happen. Either you'll start working and get lost somewhere in the middle of the project, or you’ll create something awesome that has no purpose, which is quite sad. Personally, I’d rather make something awesome AND have it reach a goal. Then it's a win-win for everyone! In order to do that, every great infographic must begin with a good topic. Ask Yourself: What are people asking about? What problem does my audience have? What current ideas could be better explored and communicated? For example, at , we noticed that everyone was asking, "What's the best time to post on social media?" and so we turned that very question into a blog post and then an  infographic. Use the three questions above to  help you narrow in on a topic that will engage your audience and guide you through the creation process. Want to know how to make an infographic from a post you've already written? Skip to step #3 Pro Tip: Create a survey or engage with your audience on social media to see what problems you could solve with your infographic. 2. Do Your Research Now that you have a stellar topic, it’s time to do  research. This step might take some time, but it’s absolutely critical so embrace it and dig in. Find absolutely everything you can around that concept by beginning with the large resources, and then move onto the small bits and pieces that may be hiding. Again, don't be scared to invest significant time into this stage. Research is the very core of an infographic, so it's worth it in the long run. Research is the very core of an #infographic, so it's worth it in the long run. #contentmarketingGet Perspective Search for similar counterparts and find out why your topic is essential to what you’re trying to prove. Then, explore the ideas that completely oppose it. This will give you a wholesome perspective, and might even surprise or counter your initial idea. Let the data shape your topic and adjust when necessary. Remember, infographics are first and foremost research; however, boring data designed nicely  will still end up as a boring infographic. While it might seem tedious, take the time to find interesting data so you can set yourself up for one heck of an infographic.

Misplaced Modifiers

Misplaced Modifiers Misplaced Modifiers Misplaced Modifiers By Mark Nichol Misplaced modifiers- words or phrases that provide additional information to the main idea of a sentence but create confusing or at least awkward phrasing because of where they are placed within the sentence’s syntax- abound in writing. As explained below in the discussion of revision of sentences burdened by this problem, the solution is often simply relocating the modifier as a subordinate clause that precedes the main clause. 1. A Bill Cosby Show actress claims the comedian raped her in a new lawsuit. The sentence literally states that the rape occurred in a lawsuit. But the point is that the lawsuit states that the rape occurred, so the sentence should begin with the context: â€Å"In a new lawsuit, a Bill Cosby Show actress claims the comedian raped her.† Another option is to parenthesize â€Å"in a new lawsuit† between the subject, â€Å"A Bill Cosby Show actress,† and the predicate, â€Å"claims the comedian raped her.† (The parenthesis can also follow the verb.) 2. The attorney said that he was confident that justice would be served as he stood on the courthouse steps. Just as in the first example, this sentence features a distracting misstatement. The attorney did not claim that during the time he was standing on the courthouse steps, justice would be served, but that’s what the sentence implies. To clarify that the reference to the courthouse steps is tangential to his pronouncement, it should be moved to the beginning of the sentence as a subordinate clause: â€Å"As he stood on the courthouse steps, the attorney said that he was confident that justice would be served.† As in the previous example, the modifier can be inserted in the middle of the sentence, either before or after said. 3. The property belonged to Lance Benson twice, who lost the land in a divorce settlement and then bought it back in 2012. The antecedent, or prior reference, to who- the name Lance Benson- must appear immediately before the pronoun, with no intervening words, so twice must be relocated: â€Å"The property twice belonged to Lance Benson, who lost the land in a divorce settlement and then bought it back in 2012.† Twice could also begin the sentence, but the statement flows more smoothly when it follows the subject. 4. North Korea’s government says its military tested a bomb to widespread skepticism. This sentence suggests that widespread skepticism was an intended result of the bomb test; it appears as if a verb such as garner is missing from before â€Å"widespread skepticism.† To explicitly note that the skepticism was independent of the bomb test, the result should be introduced as a subordinate clause before the main clause: â€Å"To widespread skepticism, North Korea’s government says its military tested a bomb.† (Again, the modifier can be inserted before or after the verb instead.) Better yet, however, the result could be described with a verb inserted before it and the entire phrase set off from the main clause by a comma: â€Å"North Korea’s government says its military tested a bomb, prompting widespread skepticism.† 5. The rocks appeared to be the size of small cars in pictures posted by the National Park Service. This sentence, read literally, compares the size of the rocks to the size of small cars featured in photographs posted by the National Park Service. To clarify that the photos show rocks the size of small cars, not small cars themselves, the phrase describing the photos should precede the main clause as an introductory subordinate clause: â€Å"In pictures posted by the National Park Service, the rocks appeared to be the size of small cars.† Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Grammar category, check our popular posts, or choose a related post below:75 Contronyms (Words with Contradictory Meanings)Italicizing Foreign WordsUses of the Past Participle

Discuss the three imperial mosques (Suleymaniye, Selimiye, & Sehzade) Essay

Discuss the three imperial mosques (Suleymaniye, Selimiye, & Sehzade) designed by the Ottoman architect Sinan - Essay Example He spent his childhood in Agirnas, a village near Kayseri, until he joined the â€Å"masters of carpenters† (Turkish Cultural Foundation 2011). He learned the craft there until 1512 (Matthews 2011), when, at the age of twenty two (Turkish Cultural Foundation 2011), he joined the royal army (Matthews 2011) and got recruited into the Corps of Ottoman Standing Troops (Turkish Cultural Foundation 2011). As a cavalry officer (Matthews 2011), he traveled far and wide in the empire, to places such as Egypt, Persia, Damascus, and Baghdad (Turkish Cultural Foundation 2011). He visited architectural wonders and ruins, and according to his own statement, learned something from every building and every ruin (Turkish Cultural Foundation 2011). He was quickly ranked as a construction officer (Matthews 2011). As an army engineer, he constructed bridges and forts (Matthews 2011), which proved to be very successful and architecturally sound. As his reputation built, he was promoted to the rank of the head of royal architects (Turkish Cultural Foundation 2011), or the Architect of the Abode of Felicity in 1538 (Matthews 2011), at the age of fifty (Turkish Cultural Foundation 2011). As he built, his reputation rose (Turkish Cultural Foundation 2011). ... Sinan’s work include an eclectic range of construction projects, from hospitals to mosques and from asylums to bridges (Matthews 2011). However, his most prominent accomplishments remain the great mosques that he designed and constructed (Matthews 2011). Sinan generally designed the larger mosques mostly as complexes with hospitals, schools, libraries, almshouses, and public baths (Matthews 2011). Three of his greatest masterpieces, the Sehzade, Suleymaniye, and Selimiye mosques (Turkish Cultural Foundation 2011) are discussed in detail later in the paper. Most of his work is influenced by the Hagia Sophia (Matthews 2011), with a weightless central dome supported by windows (Matthews 2011), an interior that is flooded with light due to those windows (Matthews 2011), pillars, buttresses, and minarets (Matthews 2011). One of his unique projects is the urban mosque complex next to the harbor in the Kadirga Liman quarter (Turkish Cultural Foundation 2011), the Sokollu Mehmet Pasha Mosque Complex, started in 1571 and finished in 1572 (Turkish Cultural Foundation 2011). The challenge of the fifty six feet dropping landscape (Turkish Cultural Foundation 2011) is met with great ingenuity (Turkish Cultural Foundation 2011) and expertise by Sinan, which can be viewed as a refreshingly changing landscape view (Turkish Cultural Foundation 2011) as the complex is accessed by a number of entries through narrow and winding lanes (Turkish Cultural Foundation 2011). In the Hagia Sophia, Sinan added two large minarets at the Western end (An Architectural Wonder 2008), and to the southeast of the building, the mausoleum of Selim II in 1577 (An Architectural Wonder 2008). Later, he added a dias for sermons (An Architectural Wonder 2008), a minbar in the Sultan’s

Meaning of life 3 Essay Example | Topics and Well Written Essays - 1000 words

Meaning of life 3 - Essay Example Contrarily, the incapability to acquire meaning in life causes distress, addiction, boredom, aggression and even depression. Now this is what brings us to what Frankl describes as the state of meaninglessness. Psychological responses to the worst experiences are never predetermined by any given circumstance, no-matter how strong or weak it is. Meaning of life comes from within an individual in spite of the existing despair. Personal responsibility is always the best way for an individual to gain meaning. And this is considered likely if the person does not surrender to negative mind-set of others and be true to him or herself. Frankl states that it is possible to be frequently exposed to death and misery of Auschwitz, yet still get a way of discovering meaning in this grief. Even while death seems to be unavoidable, Frankl thinks that individuals have the central capacity to reflect positively on the all the good things they have achieved in their entire lifetime and to put in perception the current meaning of their grief (Frankl, Viktor 87). When a fella apprehends that it is his destiny to suffer, he will have to consider his grief as his task; his only exceptional mission. And normally this is what is considered to be the state of meaninglessness. A person will have to live with the fact that even during suffering he is alone and experiences a unique situation in the universe. And that no other person is capable of relieving him or suffering for his or her sake. His or her unique opportunity depends on how he or she carries the burden. Frankl describes the diverse phases of psychological response that were common to all the prisoners. These stages are alleged to have ensued in a sequential way, from shock to apathy then to freedom readjustments. He states that he was able to witness the grace even in the worst case scenarios. Frankl quotes â€Å"we who stayed in the concentration camps can never

Different Contexts In Communication Essay Example for Free

Different Contexts In Communication Essay †¢Social – When in a social environment you are more than likely around people who know your personality and how you communicate, if that is with jokey sarcasm, dramatic actions, being load, quietly thoughtful or any other way in which you may use your communicational skills. Because of the friendship you will have with these people and the want they feel to spend social time with you, they will understand your ways, accept them, and that is how you are able to be yourself in a comfortable relaxed atmosphere. †¢Professional – Meetings, talking with other parents/members of staff/students/outside agencies. All require professionalism; the way in which you conduct yourself should be with a friendly, but not formal attitude. Respect, listening, interest and understanding should be shown by you in body language, questions, answers and possible solutions. In some of these meetings important issues can irises and it is important that no matter what the subject is you take a high interest at getting any issues dealt with, but always keeping the situation calm and none threatening. Sarcasm, inappropriate jokes and other behaviours should be left to use in your social time; this is not the place for informal attitudes, a professional stance is required, with a level amount of understanding and respect. †¢Cultural – If a meeting has been arranged with people of a different culture if possible a little research into acceptable communicational behaviour would help, but being careful not to assume a stereotype attitude. If there is going to be a language barrier, provisions should be made. In some cultures they have very different ideas on what is offensive and polite. For example shaking hands to me is a polite way to say hello and introducing yourself, but there are cultures that find this rude, along with eye contact, (which is a big way to show you are listening in our culture) also the way in which you may be dressed could cause affence. When any of these skills in which you should conduct yourself in are crossed, this could leave the other member in your party feeling offended, unable to have the confidence to express what they are feeling and lose the trust to be able to come to you with a problem again.

Designing Sound Characteristics :: Motorcyles Papers

Designing Sound Characteristics Early on a cloudless July morning in America's Great Plains, a farmer, clutching his warm cup of coffee, walks toward one of his tractors as he begins his work day. Before he reaches his goal, he hears the crisp exhaust note of a motorcycle, and out of the corner of his eye he notices a single headlight cresting the hill of the U.S. Highway that runs adjacent to his field. Long before the motorcycle gets close enough for him to read the name on the gas tank, the farmer knows that he is sharing this early morning moment with a rider aboard a Harley-Davidson, simply because of what he is hearing. The Harley-Davidson Motor Company has re-emerged as the leader in the heavyweight motorcycle industry because of countless stories of concise product recognition similar to this one. While improving the quality of their product line, the Motor Company has remained faithful to the styling cues that it was built upon, and in doing so has created an identity by which the rest of the cruiser genre is judged. Just what are some of these styling cues? Many of them are visual, like "Springer" front suspensions, peanut-shaped fuel tanks, and finned V-twin engines. And some are audible, for as Jon Thompson explains, "An essential element of the H-D equation is the charismatic feel and sound of the Harley engine--a sound one Honda spokesman characterized as, no kidding, 'potato- potato-potato!' " (Thompson 44) While this may not sound like the most flattering of descriptions, it is one that Harley has embraced completely, and takes very seriously. It is a cornerstone of their marketing strategy, for even their product guide exclaims: Potato, Potato, Potato. . . A Harley-Davidson at Idle. Has the wind ever carried a more satisfying sound?...The sound is unmistakable. The signature of a Harley-Davidson motorcycle... you instinctively know: this is the way a motorcycle ought to sound... This did not happen by accident... when we find something more pleasing than anything else, we stick with it. Like the exhaust note of a Harley-Davidson 45Â ° V-twin, the sweetest sound ever carried on the wind. Clearly, Harley believes that their V-twin exhaust rumble is instantly recognizable and discernible to the trained ear, and believes that it is a vitally important component of their strong product identity. Because of this, their design engineers are asked to create products that are technologically competitive and yet wonderfully nostalgic -- essentially, they are asked to design with an eye toward the future and an eye toward the looks and sounds of motorcycles long past.

The Apa Ethical Principles for Psychologists and Code of Conduct

The APA Ethical Principles for Psychologists and Code of Conduct: Cultural Sensitivity and Diversity – is the code culturally encapsulated and biased? Emmanuel Mueke Author Note Emmanuel Mueke. Independent Researcher. Correspondence regarding this article should be addressed to Emmanuel Mueke, P. O. Box 44935 – 00100. Nairobi, Kenya. Contact: [email  protected] com Abstract This paper explores the American Psychological Association (APA) Ethical Principles for Psychologists and Code of Conduct as regards the issue of multicultural and diverse professional practise.Its aim is to establish whether diversity and cultural variety and differences are adequately provided for in the body of the document. Psychologists are mandated to provide services to a multitude of culturally diverse and varied clients in a manner that is both professional and ethical. In such situations cultural sensitivity is fundamental and has been elevated to best practice. The code has been question ed as to the efficacy of its cultural sensitivity; firstly in terms of whether the code itself is culturally encapsulated and secondly whether there exists an explicit or implicit cultural bias.To address this issue we shall undertake a look at the code; its inherent limitations and shortcomings. Secondly the issue of the importance of cultural sensitivity and its translated application in matters of ethical service delivery shall be addressed. Keywords: APA Ethical Principles for Psychologists and Code of Conduct, ethics, multicultural, diversity, bias. The APA Ethical Principles for Psychologists and Code of Conduct: Cultural Sensitivity and Diversity – is the code culturally encapsulated and biased?Cultural sensitivity and professional ethics are central to the provision of psychologists’ services; this has led to the APA issuing guidelines in an effort to ensure that best practice is not only aspired to but more importantly achieved. This paper examines the Code of Conduct and the pursuant Guidelines on Multicultural Education, Training, Research, Practice, and Organizational Change for Psychologists (APA, 2002). Analysis of these documents will establish the existence of mechanisms to ensure protection against cultural bias and effective promotion of cultural sensitivity.Literature Review In the 2002 APA Ethical Principles for Psychologists and Code of Conduct several principles were outlined to ensure that cultural sensitivity was adopted as the guiding policy for practicing psychologists. The first mention of the issue of diversity and its effect on professional practice is in Principle E, which engenders awareness of and respect for cultural differences and admonishes the practitioners to try and eliminate the effect of biases upon their work and not to condone any activities of others based on prejudice. Further under Section 3. 1, unfair discrimination on any basis including culture is prohibited, combined with Section 3. 03 which admon ishes the practitioners from engaging in any behaviour that would be demeaning to a person of different culture. The issue of ethical provision of services is not just about preventing discrimination or harassment to persons of different cultures but it is also about ensuring that they are provided with adequate and competent services as they well deserve; to this effect Section 2. 01 provides what has been termed a boundary of competence.The boundary is intended to ensure that the services provided are effective in the specific circumstances faced; to this effect first it limits a psychologist to only undertake to provide services within the boundary of his expertise, education and experience and secondly it mandates that a psychologist must undertake the training or education necessary to provide the requisite services to the target populace, this training or education taking into account all factors that have a bearing on effective service delivery such as age, gender, ethnicity et cetera.Lastly under Section 9. 06 (APA, 2002) when interpreting assessment results a psychologist is mandated to take into account all the factors relevant, including the cultural differences of the assessment subject, that might nuance the results in any way. To translate these into effective practice the APA published the Guidelines on Multicultural Education, Training, Research, Practice, and Organizational Change for Psychologists (APA, 2002); which was meant to embody diversity aspirations for professionals.This document built on the precedent established by the Guidelines for providers of psychological services to ethnic, linguistic, and culturally diverse populations (APA, 1990). It translated the Principles previously outlined into six different guideline rules with the appropriate commentary on the way to best achieve such targets. The guidelines are; 1. Psychologists are encouraged to recognize that, as cultural beings, they may hold attitudes and beliefs that can detri mentally influence their perceptions of and interactions with individuals who are ethnically and racially different from themselves 2.Psychologists are encouraged to recognize the importance of multicultural sensitivity/responsiveness, knowledge, and understanding about ethnically and racially different individuals 3. As educators, psychologists are encouraged to employ the constructs of multiculturalism and diversity in psychological education 4. Culturally sensitive psychological researchers are encouraged to recognize the importance of conducting culture-centred and ethical psychological research among persons from ethnic, linguistic, and racial minority backgrounds 5.Psychologists strive to apply culturally-appropriate skills in clinical and other applied psychological practices 6. Psychologists are encouraged to use organizational change processes to support culturally informed organizational (policy) development and practices Discussion The Guidelines admit the existence of a Eurocentric bias in the psychological profession and posit themselves as an ever-evolving solution; changing as further empirical research on the issue is undertaken.Moreover the document places a time limit on its validity in order to spur further research on the issue of multicultural practice. In order to ensure its efficacy the APA set up a task force whose sole purpose was to look into the implementation of the guidelines with a view to providing proper feedback by identifying pertinent implementation and infusion recommendations. The task force produced a report on the infusion of the paradigm shift in service delivery outlining how this should be undertaken; Report of the APA Task Force on the Implementation of the Multicultural Guidelines (APA, 2008).The report split the guidelines into two categories the first being those whose implementation fell unto the practitioners and into this category they placed the first and second guidelines. The rest were in the category of thos e whose implementation required facilitation by the APA both in terms of administrative structures and funding; for example the APA was tasked with establishing an Office of Diversity Enhancement and hiring a Chief Diversity Officer to run it. The Office’s purpose is ensuring that there is diversity across the organization which helps with the ethical provision of services across multicultural diversity.Conclusion Having gone through the Code of Conduct, the pursuant Guidelines and the Implementation Report there is no evidence of cultural bias and encapsulation; rather there is incontrovertible evidence of contrived and concerted efforts to address the bias existent in the profession and its philosophy. References American Psychological Association. (1990). Guidelines for providers of psychological services to ethnic, linguistic, and culturally diverse populations. Washington, DC: Author. Retrieved from www. apa. org/pi/oema/guide. html American Psychological Association. (2 002).Ethical principles of psychologists and code of conduct. American Psychologist, 57, 1060-1073. Retrieved from www. apa. org/ethics. code. html American Psychological Association. (2003). Guidelines on multicultural education, training, research, practice, and organizational change for psychologists. American Psychologist, 58, 377-402. (See www. apa. org/pi/multiculturalguidelines/homepage. html) American Psychological Association. (2008). Report of the Task Force on the Implementation of the Multicultural Guidelines. Washington, DC: Author. Retrieved from http://www. apa. org/pi/

Non Performing Assets

1. a. EXECUTIVE SUMMARY The project is entitled â€Å"A study on The Management of Non-Performing Assets in the Canara Bank’s Loan Portfolio† is done at the Canara Bank, Donimalai Township, Sandur (TQ), Bellary (Dist), Karnataka State. INTRODUCTION: An efficient financial management is becoming inevitable for every manager in today’s corporate world. From a traditional aspect of raising funds whenever needed the importance has shifted to day to day financial decision making and problem solving.When initially the stress was on the internal analysis of the firm, procurement of funds, management of assets and allocation of capital, the present importance has shifted to decision making within the firm. With the modern aspect of finance function the responsibilities of the finance manager has also increased. In the process of making optional decision, he makes use of certain analytical tools in the analysis, planning and control activities of the firm. Financial analy sis is an essential prerequisite for making sound financial decisions.This study is intended to probe into the management of non performing assets in the Canara Bank’s Loan Portfolio, for the period of 2002-2003 to 2005-2006. The study is completely based on the analysis and interpretation of the published accounts of the bank and personal interview of the senior officials of the bank. OBJECTIVES OF THE STUDY: ? To evaluate the Canara Bank’s asset quality. ? To identify the effectiveness of the risk management system, undertaken by the bank. SCOPE OF THE STUDY: ? The scope of the study here was confined to the organization only. ? The study covers to find out the strategy required to reduce the NPAs.METHODOLOGY OF THE STUDY: ? Primary data. ? Secondary data. DATA ANALYSIS AND INTERPRETATION: When the data collected is completed the data is processed and the relevant information is obtained. The data collected is analyzed using various statistical tools like frequency d istribution, charts and percentage analysis. DURATION OF THE STUDY: This study is intended to probe into the management of non performing assets in the Canara Bank’s Loan Portfolio, for the period of 2003-2004 to 2005-2006. FINDINGS: ? The Net NPA ratio of the Canara Bank declined from 1. 88% as at March 31st 2005 to 1. 12% as at March 31st 2006. Canara Bank has recovered its NPA which is amounted to Rs. 865 crore during 2005-2006. ? The Net NPA of the Canara Bank declined from Rs. 1454 crore as on 31st March 2006. ? The Net NPA percentage of Canara Bank has reduced by over 19% during 2005-2006. RECOMMENDATIONS: ? Canara Bank should concentrate more on credit appraisal, monitoring, credit risk management and recoveries. ? Settlement is a better option for the banks wrestling with the problem of non-performing assets. ? Credit scoring allows lenders to determine whether or not you fit the profile of the type of customers they are looking for. Banks concerned should continuousl y monitor loans to identify accounts that have potential to become non-performing. CONCLUSION: ? Securitization Act will surely help banks in reduction of NPA to a great extent. ? Preventing fresh flow of NPAs to a great extent. ? Exchange of credit information among banks would be of immense help to avoid possible NPAs. 1. b. GENERAL INTRODUCTION: INDUSTRY PROFILE Banking in one form or another was in existence even in ancient times. The writings of Manu (the maker of old Hindu Law) and Kautilya (the Minister of Chandragupta Maurya) contained references to banking.However, banking as a kind of business i. e. , modern banking is of recent origin. It came into existence only after the industrial revolution. After the industrial revolution, with the increase in the size of industrial and business units, joint stock company people with small means to become shareholders of big industrial and business enterprises. Still, there were certain sections of public who were not prepared to inv est their money on the shares of joint stock companies. However they were willing to part with a little surplus money, if they were assured of the repayment of their money with a little interest thereon.So naturally, there arose the need for formation of financial institutions that could collect the surplus funds of people on terms acceptable to them and make them available to the needy for productive purpose. Accordingly a large number of financial institutions called joint stock banks were set up after industrial revolution. As such joint banks or modern banks are of recent development. MEANING OF BANKS: A banking company in India has been defined in the Banking Companies Act 1949 as â€Å"One which transacts the business of banking which means the accepting of he purpose of sending or investment of deposits of money form the public repayable on demand or otherwise and withdrawable by cheque, draft order or otherwise†. STRUCTURE OF BANKING SYSTEM IN INDIA: Indian Banking Sy stem has been categories into two: 1. Scheduled Banks. i. State Co-operative. ii. Commercial Banks. 2. Non-Scheduled Banks: Central Co-operative Banks and Primary Credit Societies. Commercial Banks. Commercial Banks are further divided into Indian Banks and Foreign Banks. Indian Banks are further divided into: 1. Public Sector Banks. 2. SBI and its Subsidies. 3. Other Nationalized Banks. 4. Regional Rural Banks.ACTIVITIES OF BANKS: I. Activities of Commercial Banks. II. Activities of Central Banks. I. Activities of Commercial Banks: The activities undertaken by commercial banks be subdivided into: a. Primary Functions. b. Subsidiary Functions. a. Primary Functions: i. Acceptance of deposits: It is very important for banks as it forms the basis of all other activities of banks. It accepts various types of deposits. They are current deposit, saving deposit, fixed deposit and recurring deposits. ii. Lending of Funds: It is also the most important function of Commercial Banks as it fetc hes the major portions of the income of the banks.Banks lend money by the way of loans, overdrafts, cash credit and discounting of bills. b. Subsidiary Functions: i. Agency Functions: The services rendered by banks as agent of their customers are called agency services. They are: †¢ Banks collect cheque, bank draft, bills, interest, dividends etc on behalf of the customer. †¢ Banks sells and purchases securities on behalf of the customers. †¢ Banks arranges for remittance of funds from one place to another place. †¢ Banks acts as trustees, executors, representatives of their customers. ii.General Utility Services: Services rendered by banks to their customers as well as the general public are called as general utility services. †¢ Banks accept precious articles, documents etc for safe custody. †¢ Banks helps exporters and importers in foreign trade. †¢ Banks issue travellers cheque, letter of credit, circular notes etc. †¢ Banks acts as a refe rence and supply information about the financial standing of the customers to others. II. Activities of the Central Bank: A. Monopoly of Note issue. B. Banker, Agent, Advisor to the government. C. Custodian of cash reserves of the banks. D. Lender of the last resort.FUNCTIONS AND IMPORTANCE’S OF BANKS: The importance of banks in the modern economy cannot be denied. Banks play a significant role in the economic development. Banks perform a number of functions. They are: 1. Banks mobilize the small scattered and ideal savings of the people, and make them available for productive purpose. In the sort, they aid the process of capital formation. 2. By accepting the savings of the people, banks provide safety and security to the surplus money of the depositors. 3. Banks provide a convenient and economical method of payment. The cheque system introduced by banks is convenient form making payments.Again the use of cheque economies the time and trouble involved in settlement of busine ss obligations. 4. Banks provide a convenient and economical means of transfer of funds from one place to another. Banks drafts are commonly used for remittances of funds from one place to another. 5. Banks helps the movement of capital from regions where it is no very useful to regions where it can be more usefully employed, by moving funds, banks increases the utility of funds. Again by moving funds from one place to another, banks contribute to the economic development of backward regions. 6.Banks influence the rates of interest in the money markets. Through the supply of money (i. e. bank money or bank deposits) banks expert a powerful influence on the interest rates in the money market. 7. Banks help trade and commerce industry and agriculture by meeting their financial requirements. But for the financial assistance provided by the banks, the pace of growth of trade and commerce industry and agriculture would have been very slow. 8. Banks direct the flow of funds into productio n channels. While lending money, they discriminate in favor of essential activities and against non essential activities.Thus they encourage the development of right types of activities which the society desires. 9. Banks always make it a point to help the industries, the prudent, the punctual and the honest and discourage the dishonest, the spendthrift, the gambler the lair and the knave (i. e. the rouge). Thus banks act as public conservators of commercial virtues. 10. Banks serves as the best financial intermediaries between the saver (i. e. the depositors or lenders) and the investor (i. e. the borrowers or the entrepreneurs). SERVICE PROFILE OF THE CANARA BANK: The bank has many financial services and different schemes.Important among them are as follows: DOMESTIC PRODUCTS SAVING BANK DEPOSITS: For individuals & non-trading organizations / institutions. CURRENT ACCOUNT: For business operations – trades, businessmen, corporate bodies. FIXED DEPOSITS: Secured way to high r eturns – individuals and institutions. KAMADHENU DEPOSITS: Re-investment money multiplier plan. CANBANK AUTO – RENEWAL: Higher return in a shorter plan. CANFLEXI DEPOSITS: A combination of savings & fixed deposits – high return & instant liquidity. ASHRAYA DEPOSITS: Respecting Indian values for senior citizens.RECURRING DEPOSITS SCHEME: Inculcating saving, a rewarding & recurring habit. FLOATING RATE DEPOSITS SCHEME (FRDS): Insures against interest rate fluctuations. LOAN PRODUCTS HOUSING LOAN SCHEME: Purchase of a ready built house / flat construction of house, purchase of a site and construction of house thereon, for undertaking repairs, renovations, upgradation, and creation of additional amenities and for taking over of the HL liability from other recognized housing finance companies and banks. HOME IMPROVEMENT LOANS: Furnishing the house / flat along with bank’s home loans / independently.CANMOBILE: Facilities purchase of new / used cards / jeeps of all make. The scheme also covers finance for purchase of brand new two wheelers. CANCARRY: Provided credit worthy individuals, professional and salaried class for buying consumer durables and household articles. CANCASH: Offer assistance for meeting unforeseen contingencies. Finance is granted against approved shares, bonds and debentures held by the clients. CANBUDGET: Fulfills the financial needs of confirmed employees of reputed PSU’s, joint stock companies, central / state / semi – government employees nd lecturers / professors / assistant professors of colleges / universities and research institutes. CANRENT: Provides loans to property owners whenever the property is leased / rented out to PSU’s central / state / semi – government undertakings. Reputed corporate banks. Financial institutions, Insurance companies and MNCs. CANMORTGAGE: Designed to meet the financial requirements against security of equitable mortgagee of property (land & building) to professional, businessman, salaried persons and individuals.VIDYASAGAR EDUCATIONAL LOAN SCHEME: Renders financial assistance for needy and meritous students for pursuing all type of studies (professionals / general) in India and Abroad. LOAN SCHEME TO TRADERS / BUSINESS ENTERPRISES: With hassle – free and minimum terms and conditions, the scheme cater to the needs of traders and other business enterprises for smooth flow of business activities. CANMAHILA: Exclusive loan scheme for women clientele. AGRI – LOAN SCHEME: Various loan schemes for agri-clinic, minor, irrigation, farm development / machinery, plantation crops fishers and for agro-exports.SSI LOAN SCHEME: A host of schemed available for technology up gradation fund in textile and jute industries, credit linked capital subsidy stand by credit for capital expenditure and margin money scheme of KVIC. OTHER PRIORITY SCHEME: These include loan for retail traders, small business, professional / self employed, medica l practitioners and loan for solar water heating / home lighting system. CREDIT CARD OPERATIONS †¢ The first Indian card issuers to bay ISO 9002 certification, CANCARD today as a distinct recognition in the domestic as well as international market. All verstors of CANCARD namely, CANCARD visa, classic, visa-corporate, master card and visa – international gold are issued through all CANARA BANK branches & 24 CANCARD service centers located at major cities across the country. †¢ Four Indian Banks are in affiliation with the bank for issue of CANCARD VISACARD. †¢ Launched DEBIT CARD on November 4, 2003, a value added and tech based product for its niche clients. CUSTOMER CENTRIC ETHOS †¢ CANARA BANK was the first to articulate the directive principles of good banking, detailing banker’s duties and customers rights. First bank to get ISO certification for one of its branches in Bangalore in the year of 1995-1996. †¢ Recommendations of the Goiporia Committee on Customer Service have been implemented by the bank. †¢ The bank has Computerized Information Facilitation Centers (CIFCs) at all circles to look exclusively into customer in a single window framework. †¢ A 24 hour tele – contact facility is also available for customers to air their grievances at corporate as well as circles levels. COMPANY PROFILE OF THE CANARA BANK: HISTORICAL TREND:Canara Bank established in 1906 with the name of Canara Bank Hindu Permanent Fund in Mangalore, India, by Ammembal Subba Rao Pai, is one of the oldest and major commercial bank of India. Its name was changed to Canara Bank Limited in 1910. The bank, along with 13 other major commercial banks of India, was nationalized on 19th July, 1969, by the Government of India. Currently (2005), the bank has 2508 branches spread all over India. The bank also has international presence in several centers, including London, Hong Kong, Moscow, Shanghai, Doha, and Dubai.In terms of business it is the largest nationalized commercial bank in India with a total business of about Rs. 2000 billion (about US $43 billion). ORGANISATION STRUCTURE: The bank has fourteen wings in the Head Office, Bangalore. 1. Personnel Wing 2. Corporate Credit Wing 3. Risk Management Wing 4. Priority Credit Wing 5. Inspection Wing 6. Department of Information Technology Wing 7. Marketing and Customer Relationship 8. Planning and Development Wing 9. Recovery Wing 10. General Administration Wing 11. Financial Management Wing 12. Treasury and International Operation Wing 13.Retail Banking and Subsidiaries Wing 14. Vigilance Wing OFFICE AND BRANCHES: Canara bank has a network of 2415 branches, spread over 22states/ 4 union territories of the country and overseas branch @ London which are administrated through †¢ Head Office at Bangalore †¢ 13 Circles offices / International Division †¢ 35 Regional offices †¢ 2441 Branches BRANCHES ABORAD: CANARA BANK established its Internation al Division in 1976, to supervise the functioning of it various foreign department to give the required thrust to Foreign Exchange business, particularly export and to meet the requirements of NRI’s.Though small in size the Bank’s presence abroad has brought in considerable foreign business, particularly NRI deposits. The presence of bank is shown under. †¢ CANARA BANK, London, UK (Branch) †¢ Indo Hong Kong International Finance Co Ltd Hong Kong (Subsidiary) †¢ AL Razouki International Exchange company , Dubai, UAE According to the latest information, both the CANARA BANK and State Bank of India have come into a mutual agreement as to both the banks will be operating as a one unit in the Moscow. CORPORATE VISION: To top as a World Class Bank with best practices in the realms of asset portfolio, Customer orientation, Product Innovation, Profitability an enhanced value for stake holders. †¢ To set new standards in IT application, Customer responsivene ss, Asset quality and profitability, culminating in higher stoke holder value. †¢ To scale new peaks in respect of IT based banking, efficient service delivery market leadership in profitability. CORPORATE MISSION: †¢ Augmenting low cost deposits. †¢ Toning up asset quality. †¢ Accent on cost control. †¢ Thrust on retail banking. †¢ Customer centric focus. Product innovation and marketing. †¢ Leveraging IT for comprehensive MIS. †¢ Maximize stockholder’s value. CORPORATE OBJECTIVE: E- Efficiency. P- Profitability and Productivity. O- Organization Effectiveness. C- Customers centric H- Hi Tech Banking ACHIVEMENTS: The Bank has already carved a niche in providing IT – based services. Computerized branches, for 65% of the branches & 81% of aggregated business provided a wide array of services such as Network ATM’s, any where Banking , Tele Banking & Remote Access Terminals etc. , The Bank was the first to launch networked ATM ’s & obtain ISO certification.CANARA BANK shares are listed & Bangalore, Mumbai & National Stock Exchanges. †¢ Establish well-developed quality circles have participated in many National & International level competitions and have returned with handsome prizes. †¢ Has set up its own Apex level Training colleges to its employees and thereby takes care of the knowledge, skills and attitudinal development of employees. †¢ Has also taken initiative in the environmental concerns. PERRFORMACE HIGHLIGHTS OF 2005-2006 †¢ Canara Bank has posted net profit of s. 581 cr for the half year ended September 2005 as against Rs. 19 cr during the corresponding previous half year, registered a growth rate of 38. 60%. †¢ The Bank operating profit registered an increase of Rs. 548 cr (57. 81%) to reach Rs. 1496 crore, up from Rs. 948 cr for the first half of the preceding financial. †¢ Return of assets a standard measure of profitability improved from 1. 08% (annuali zed) at a September 2002 to 1. 28% (annualized) as at September 2005. †¢ Number of branches moved up to 2441 from 2416 as at September 2002, besides 248 extension counter. †¢ Global deposits of the Bank aggregated to as Rs. 5, 396crore as against Rs. 67734 crore a year ago, year growth being 11. 31%. MATURITY CLASSIFICATION OF VARIOUS ASSETS AND LIABILITIES: In respects of the certain Assets and liabilities, CANARA BANK have undertaking a behavior study, embedded options in the basis of past of past data, based on which the bank is in a position to decide on the maturities of the asset and liabilities. 2. a. RESEARCH DESIGN A study on the Management of Non Performing Assets in the Canara Bank’s Loan Portfolio is done at the Canara Bank Donimalai Township, Sandur (TQ), Bellary (Dist), Karnataka State.The type of research used for the collection & analysis of the data is â€Å"Historical Research Method†. The main source of data for this study is the past recor ds prepared by the bank. The focus of the study is to determine the non-performing assets of the bank since its inception & to identify the ways in which the performance especially the non-performing assets of the Canara Bank can be improved. The data regarding bank history & profile are collected through â€Å"Exploratory Research Design† particularly through the study of secondary sources and discussions with individuals.Data Collection Method Discussion with the manager & officers of the bank to get general information about the bank & its activities. ? Having face to face discussions with the bank officials ? By taking guidance from bank guide & departmental guide. Secondary Data ? Collection of data through bank annual reports, bank manuals and other relevant documents. ? Collection of data through the literature provided by the bank. Research Measuring Tool: The tools used for data collection are: 1. Personal Interview 2. Secondary Sources 1. Personal Interview:In this, discussions more held directly with the manager & officials to get the clear-cut information about the topic and data to be collected for the purpose of analysis. 2. Secondary Sources: Annual company reports, Balance Sheets, Profit & Loss account are used to collect the data. b. 1. SATATEMENT OF THE PROBLEM: A crucial issue which is engaging the constant attention of the banking industry is the alarmingly high level of non performing assets (NPA). Another major anxiety before the banking industry is the high transaction cost of carrying non performing assets in their books.The resolution of the NPA problem requires greater accountability on the part of the corporate, greater disclosure in the case of defaults, an efficient credit information sharing system and an appropriate legal frame work pertaining to the banking system so that court procedures can be stream lined and actual recoveries made within an acceptable time frame. So the project titled â€Å"A study on the Management of Non Performing Assets in the Canara Bank’s Loan Portfolio† looks in to the implications of high NPAs and suggests effective recovery measures for resolving problem loans and thus making the banks NPAs level healthy.It also compares the position of the Canara Bank with other public sector banks in terms of their NPAs in the last three years and also to study the management of total assets and advances of the Canara Bank among other public sector banks. b. 2. OBJECTIVES OF THE STUDY: ? To evaluate the Canara Bank’s asset quality. ? To compare the position of the Canara Bank with other public sector banks in terms of their NPAs. ? To study the management of total assets and advances of the Canara Bank. ? To identify the effectiveness of the risk management system, undertaken by the bank. To analyze sector wise non-performing assets. ? To offer useful suggestions to reduce the NPA in banks. b. 3. SCOPE OF THE STUDY: ? The scope of the study here was confined to th e organization only. ? The study covers to find out the strategy required to reduce the NPAs. ? The concentration is given only in understanding the NPAs growth with the reference of Canara Bank. ? The data is purely based on the secondary data collected from website and journal. ? The scope is limited to drawn conclusions from analysis and interpretations of the primary and secondary data of the Canara Bank. . 4. METHODOLOGY: Introduction The quality of the project work depends on the methodology adopted for the study. Methodology, in turn, depends on the nature of the project work. The use of proper methodology is an essential part of any research. In order to conduct the study scientifically, suitable methods & measures are to be followed. Research Design The type of research used for the collection & analysis of the data is â€Å"Historical Research Method†. The main source of data for this study is the past records prepared by the bank.The focus of the study is to determ ine the non-performing assets of the bank since its inception & to identify the ways in which the performance especially the non-performing assets of the Canara Bank can be improved. The data regarding bank history & profile are collected through â€Å"Exploratory Research Design† particularly through the study of secondary sources and discussions with individuals. Data Collection Method Discussion with the manager & officers of the bank to get general information about the bank & its activities. ? Having face to face discussions with the bank officials ?By taking guidance from bank guide & departmental guide. Secondary Data ? Collection of data through bank annual reports, bank manuals and other relevant documents. ? Collection of data through the literature provided by the bank. Research Measuring Tool: The tools used for data collection are: 1. Personal Interview 2. Secondary Sources 1. Personal Interview: In this, discussions were held directly with the manager & official s to get the clear-cut information about the topic and data to be collected for the purpose of analysis. 2. Secondary Sources: Annual company reports, Balance Sheets, Profit & Loss account are used to collect the data. . 5. LIMITATIONS OF THE STUDY: ? The study is mainly based on the secondary data provided by the bank. As such it is subject to the limitations of the secondary data. ? The study is based only on NPAs with respect to loans. ? The study is based on the data given by the officials and reports of the bank. The confidentiality of some facts and figures is a limitation. ? The non-availability of relevant information is one of the limitations. ? The study is done only for the limited past 3 years. 3. THEORITICAL OVERVIEW NPA ITS IMPACT AND MAGNITUDE: MEANING OF NPA:An asset is classified as non- performing asset (NPA) if dues in the form of principal and interest are not paid by the borrower for a period of 180 days. How ever with effect from March 2004, default status woul d be given to a borrower if dues are not paid for 90 days. If any advance or credit facilities granted by bank to a borrower becomes non-performing, then the bank will have to treat all the advances / credit facilities granted to that borrower as non-performing without having any regard to the fact that there may still exit certain advances / credit facilities having performing status.A ‘non-performing asset’ (NPA) was defined as a credit facility in respect of which the interest and / or installment of installment of principal has remained ‘Past Due’ for a specified period of time. An amount due under any credit facility is treated as â€Å"past due† when it has not been paid within 30 days from the due date. Due to the improvement in the payment and settlement systems, recovery climate, up gradation of technology in the banking system, etc. , it was decided to dispense with ‘past due' concept, with effect from March 31, 2001. Accordingly, as from that date, a Non performing asset (NPA) shell be an advance where i.Interest and /or installment of principal remain overdue for a period of more than 180 days in respect of a Term Loan, ii. The account remains ‘out of order' for a period of more than 180 days, in respect of an overdraft/ cash Credit(OD/CC), iii. The bill remains overdue for a period of more than 180 days in the case of bills purchased and discounted, iv. Interest and/ or installment of principal remains overdue for two harvest seasons but for a period not exceeding two half years in the case of an advance granted for agricultural purpose, and v.Any amount to be received remains overdue for a period of more than 180 days in respect of other accounts. ’90 days’ overdue norm’ With a view to moving towards international best practices and to ensure greater transparency, it has been decided to adopt the '90 days overdue' norm for identification of NPAs, form the year ending March 31, 2004 . Accordingly, with effect form March 31, 2004, a non-performing asset (NPA) shell be a loan or an advance where; i. Interest and /or installment of principal remain overdue for a period of more than 90 days in respect of a Term Loan, i. The account remains ‘out of order' for a period of more than 90 days, in respect of an overdraft/ cash Credit(OD/CC), iii. The bill remains overdue for a period of more than 90 days in the case of bills purchased and discounted, iv. Interest and/ or installment of principal remains overdue for two harvest seasons but for a period not exceeding two half years in the case of an advance granted for agricultural purpose, and v. Any amount to be received remains overdue for a period of more than 90 days in respect of other accounts.As a facilitating measure for smooth transition to 90 days norm, bank has been advised to move over to charging of interest at monthly rests, by April 1, 2002. However, the date of classification of an advance as NPA sho uld not be changed on account of charging of interest at monthly rests. Banks should, therefore, continue to classify an account as NPA only if the interest charged during any quarter is not serviced fully with 180 days from the end of the quarter with effect from April 1, 2002 and 90 days from the end of the quarter with effect from March 31, 2004. Out of Order’ Status An account should be treated as ‘Out of Order’ if the outstanding balance remains continuously in excess of the sanctioned limit / drawing power. In cases where the outstanding balance in the principal operating account is less than the sanctioned limit / drawing power, but there are no credits continuously for 180 days (to be reduced to 90 days, with effect from March 31, 2004) as on the date of Balance Sheet or credits are not enough to cover the interest debited the same period, these accounts should be treated as ‘out of order’. ‘Overdue’Any amount due to the bank und er any credit facility is ‘overdue’ if it is not paid on the due date fixed by the bank. Asset Type Percentage of Provision Sub standard (age up to 18 months)10% Doubtful 1 (age up to 2. 5 years)20% Doubtful 2 (age 4. 5 years)30% Doubtful 3 (age above 4. 5 years)50% Loss Asset100% INCOME RECOGNITION-POLICY: The policy of income recognition has to be objective and based on the record of recovery. Internationally income from non-performing assets (NPA) is not recognized on accrual basis but is booked as income only when it is actually received.Therefore, the banks should not charge and take to income account interest on any NPA. However, interest on advances against term deposits, NSCs, VIPs, KVPs, and Life policies may be taken to income account on the due date, provided adequate margin is available in the accounts. Fees and commissions earned by the banks as a result of re-negotiations or rescheduling of outstanding debts should be recognized on an accrual basis over th e period of time covered by the re-negotiated or rescheduled xtension of credit. If Government guaranteed advances become NPA, the interest on such advances should not to be taken to income account unless the interest has been realized. REVERSAL OF INCOME: If any advance, including bills purchased and discounted, becomes NPA as at the close of any year, interest accrued and credited to income account in the corresponding previous year, should be reversed or provided for if the same is not realized. This will apply to Government guaranteed accounts also.In respect of NPAs, fees, commission and similar income that have accrued should cease to accrue in the current period and should be reversed or provided for with respect to past periods, if uncollected. THE CONCEPT OF GROSS NPA: Income recognition is not possible once an account becomes NPA. Interest accrued on non performing loan accounts is debited to the respective account and credited to the interest suspense account instead of t he profit and loss account. Usually no debits are permitted in non performing asset expect unavoidable expenditure like litigation expenses, insurance etc.Hence the balance outstanding in an NPA account includes: 1. Balance as on date of becoming an NPA. 2. Interest accrued but not realized. On balance sheet date banks make provisions for loan losses. This provision is calculated not on the balance outstanding but on the net balance, balance net of the amount kept in the interest suspense account. This book balance of the net of the interest suspense account is known as Gross NPA. But in cases where guarantee claim is received from credit guarantee corporations like ECGC, before making the provision for loan losses, such claim received is also netted from the gross NPA.The terminology net NPA indicates the balance in interest suspense account. For evaluation RBI and other rating agencies rely on purpose usually the net NPA balance. Thus Gross NPA means, balance outstanding minus bal ance in interest suspense account. Net NPA means: Gross NPA minus balance claim received amount and provision outstanding in that account. IMPACT OF NPA: At the Macro level, NPAs have chocked off the supply line of Credit of the potential lenders thereby having a deleterious effect on capital formation and arresting the economic activity in the country.At the Micro level, unsustainable level of NPAs has eroded current profits of banks and FIs. They have led to reduction of interest income and increase in provisions and have restricted and recycling of funds leading to various Asset Liability mismatches. Besides this, it has led to erosion in their capital base and reduction in competitiveness. The problem of NPA is not a matter of concern to banks and FIs alone. It is the matter of grave concern to the country and any bottleneck in the smooth flow of credit is bound to create adverse repercussions in the economy.The mounting menace of NPAs has raised the cost of credit, made Indian business man uncompetitive as compared to their counterparts in other countries. It has made banks more adverse to risks and squeezed genuine Small and Medium Enterprises (SMEs) from accessing competitive credit and has throttled their enterprising spirits as well, to a great extent. Due to their crippling effect on the operation of the banks, Asset quality has been considered as one of the most important parameters in the measurement of bank’s performance under the CAMELS Supervisory Rating System of RBI. THE MAGNITUDE:Non-Performing Asset (NPA) has emerged since over a decade as an alarming threat to the banking industry in our country sending distressing signals on the sustainability and endurability of the affected banks. The positive results of the chain of measures affected under banking reforms by the Government of India and RBI in terms of the two Narasimhan Committee Reports in this surging threat. Despite various correctional steps administered to solve and end this problem, concrete results are eluding. It is a sweeping and all pervasive virus confronted universally on banking and financial institutions.The severity of the problem is however acutely suffered by Nationalized Banks, followed by the SBI group, and the all India Financial Institutions. As at 31. 03. 2004 the aggregate gross NPA of all scheduled commercial banks amounted to Rs. 63883 crore. Table No. 1 gives the figures of net NPA for the last three years. The ratio of net non-performing assets to net advances also declined during 2005-06. Majority of the banks, this ratio is less than 4 percent. Punjab and Sind Bank has the highest ratio with 9. 62 percent followed by Dena Bank of India with 9. 4 percent. 4 banks reported â€Å"nil† ratio during 2005-2006.Further it is revealed that commercial banks in general suffer a tendency to understate their NPA figures. There is the practice of ‘ever-greening’ of advances, through subtle techniques. As per report appear ing in a national daily the banking industry has under – estimated its non-performing assets (NPAs) by whopping Rs. 3862. 10 Crore as on March 1997. The industry is also estimated to have under-provided to the extent of Rs. 1,412. 29 Crore. The worst offender is the public sector banking industry. Nineteen nationalized banks have underestimated their NPAs by Rs. 3,029. 29 Crore.Such deception of NPA statistics is executed through the following ways. ? Failure to identity an NPA as per stipulated guidelines: There were instances of ‘sub-standard’ assets being classified as ‘standard’. ? Wrong classification of an NPA: Classifying a ‘loss’ asset as a ‘doubtful’ or ‘sub-standard’ asset, classifying a ‘doubtful’ asset as a ‘sub-standard’ asset. ? Classifying an account of a credit customer as ‘substandard’ and other accounts of the same credit customer as ‘standardâ€℠¢, throwing prudential norms to the winds. REASONS FOR NPAs: In Priority Sector Advances: 1.Directed and pre-approved natures of loans sanctioned under sponsored programmes. 2. Mis-utilization of loans and subsidies. 3. Diversion of funds. 4. Absence of security. 5. Lack of effective follow-up (Post sanction supervision and control) 6. Absence of Bankruptcy and fore-closure loans. 7. Decrepit legal system. 8. Cost in-effective legal recovery measures. 9. Difficulty in execution of Decrees obtained. In Non-Priority Sector Advances: 1. Inadequate credit appraisal. 2. Demand recession. 3. Industrial sickness and labor problems. 4. Slow Legal system. 5. Diversion of funds. 6.Willful default. 7. Technology Obsolescence. 8. Managerial inefficiency. 9. Political compulsion and corruption. WRITING OFF NPAs: In terms of section 43(D) of the Income Tax Act 1961, income by way of interest in relation to such categories of bad and doubtful debts as may be prescribed having regard to the guideli nes issued by the RBI in relation to such debts, shall be chargeable to tax in the previous year in which it is credited to the bank’s profit and loss account or received, whichever earlier. This stipulation is not applicable to provisioning required to be made as indicated above.In other words, amounts set aside for aside for making provision for NPAs as above are not eligible for tax deductions. Therefore the banks should either make full provision as per the guidelines or write-off such advances and claim such tax benefits as are applicable, by evolving appropriate methodology in consultation with their auditors / tax consultants. Recoveries made in such accounts should be offered for tax purposes as per the rules. WRITE-OFF AT HEAD OFFICE LEVEL: Banks may write-off advances at Head Office Level, even though the relative advances are still outstanding in the branch books.However, it is necessary that provision is made as per the classification accorded to the respective ac counts. In other words, if an advance is a loss asset, 100 percent provision will have to be made there for. DEBT RECOVERY TRIBUNAL: Any person aggrieved by any measure taken by secured creditor or his authorized officer may file an appeal to Debts Recovery Tribunal, within 45days from date on which such measure was taken. That is action of taking possession of asset, takeover of management of business of borrower, appointing person to manage secured asset etc. is taken by the creditor.When a borrower files an appeal, the appeal cannot be entertained unless, the borrower deposits 75% of the amount claimed in the notice by secured creditor. The DRT can waive or reduce the amount required to be deposited. The amount is not required to be deposited at the time of filing appeal, but appeal will not heard till the amount is deposited. The borrower while filing the appeal should also file an application requesting the Debt Recovery Tribunal to admit the appeal without deposit of any amoun t. If the DRT orders partial deposit of the amount and the same is not deposited, appeal can be dismissed.The 75% deposit is only required if the appeal is filed by the borrower. If some other aggrieved person (e. g. guarantor, shareholder) files it the deposit is not required. If a person is aggrieved by the order of the DRT, it can file an appeal to the Appellate Tribunal within 30days from the date of receipt of the DRT order. If the DRT or Appellate Tribunal holds that possessions of assets by the secured creditor was wrongful and directs the secured creditor to return asset to concerned borrower, the borrower shall be entitled to compensation and costs as may be determined by DRT or Appellate Tribunal.SECURITIZATION ACT: With the enactment of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002, banks can issue notices to the defaulters to pay up the dues and the borrowers will have to clear their dues within 60days. Once the b orrower receives a notice from the concerned bank and the financial institution, the secured assets mentioned in the notice cannot be sold or transferred without the consent of the lenders.The main purpose of this notice is to inform the borrower that either the sum due to the bank or financial institution be paid by the borrower or else the former will take action by way of taking over the possession of assets. Besides assets, bank can also takeover the management of the company. Thus the bankers under the aforementioned Act will have the much needed authority to either sell the defaulting companies or charge their management. OVERALL BANKING AND NPA BANKING REFORMS IN INDIA: The Nationalization of the major commercial banks in the year 1969 and 1980 had brought radical changes in the banking system in India.It had brought about major shifts in the priorities in the banking operations. Branch expansion policies of banks were tuned upto meet the banking needs of the people in rural and semi urban centers. For accelerating the socio-economic and rural development process several Governments sponsored programs were launched and lending in the priority sector, irrational lending under socio political pressures, mounting levels of bad debts, branch expansion at non viable centers etc. gradually started affecting the financial health of the banking sector in the country.Commercial banks were not following uniform accounting policies camouflaged the true financial position of banks. Quality of loan asset was not a concern and a high proportion of loan assets started becoming non performing. Most of the banks were under capitalized and some of them even with negative worth. Thus there was a compelling need for a change and various policy corrections had to be taken with the view of strengthening the economy. Thus the Government of India was forced to initiate a process of reforming the financial sector which banks constitute a dominant part. The reforms process inclu des: 1. Introduction of prudential norms. . Transparency in balance sheets. 3. Deregulation of interest rates. 4. Partial deviation from directed lending. 5. Upgradation of technology. 6. Entry of new private sector banks. NARASIMHAM COMMITTEE: The first phase of banking sector reforms was initiated in the year 1992 in pursuance of recommendations of the committee on financial sector reforms headed by Narasimham Committee. As per the recommendations of Narasimham Committee, The Reserve Bank of India introduced in a phased manner, prudential norms for income recognition, asset classification, and provisioning in the year 1998 Narasimham Committee-II came out with more tringent norms for the industry. The prudential norms were revised from time to time to fall in line with the best accounting practices and for transparency in published accounts. It is widely recognized that as a result of these reforms, the Indian Banking System is becoming increasingly mature in terms of the transfor mation of business processes and the appetite for risk management. Deregulation, technological upgradation and increased market integration have been the key factors driving change in the financial sector. EMERGING BANKING TRENDS:During the current financial year, the focus of non-going reforms in the banking sector was on soft interest rates regime, increasing operational efficiency of banks, strengthening regulatory mechanisms and on technological up-gradation. As a step towards a softer interest rate regime, RBI in its Annual Policy Statement had advised banks to introduced flexible interest rate system for new deposits, announce a maximum spread over PLR for all advances other than consumer credit and to review the present maximum spread over PLR and reduce them wherever they are unreasonably high. A BRIEF HISTORY OF NPA:The concept of Asset Quality on the books of Public Sector Banks (PSBs) and Financial Institutions (FIs) came into being when Reserve Bank of India (RBI) introd uced prudential norms on the recommendations of the Narasimham Committee in the year 1992-1993. The Committee recommended that an asset may be treated as Non-Performing Asset (NPA), if interest or installment of principal remains overdue for a period exceeding 180days and that banks and FIs should not take into their income account, the interest accrued on such Non-Performing Assets, unless it is actually received or recovered.The Committee also recommended that Assets be classified into four categories namely Standard, Sub-standard, Doubtful and Loss Assets and that certain specified percentage of the same be held as provision there against. Before the reform process, banks were booking income on an accrual basis and their balance sheets did not reflect their true specified financial health. Thus the profit, capital and reserves were overstated by them. After 10years of NPA terror in the banking industry, â€Å"Now the Banks Have Teeth†, a new law lightens the burden of bad loans for Indian Banks.The law that has been the catalyst for the bad loan clean up passed India’s Parliament in November 2002. It allows lenders to more easily foreclose on debtors assets or even demand a change in management. Within weeks of the law’s passage, banks saw a flood of loans once deemed unrecoverable being repaid in double time. The Act is The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (Also know as the Securitization Act). This Act enables the setting up of asset management companies for addressing the problems of non-performing assets of banks and FIs.INDIAN BANKING AND NPA: The origin of the problem of burgeoning NPAs lies in the quality of managing credit risk by the banks concerned. What is needed is having adequate preventive measures in place namely, fixing pre-sanctioning appraisal responsibility and having an effective post-disbursement supervision. Banks concerned should continuously moni tor loans to identity accounts that have potential to become non-performing. The core banking business is of mobilizing the deposits and utilizing it for lending to industry.Lending business is generally encouraged because it has the effect of funds being transferred from the system to productive purposes which results into economic growth. However lending also carries credit risk, which arises from the failure of borrower to fulfill its contractual obligations either during the course of a transaction or on a future obligation. The history of financial institutions also reveals the fact that the biggest banking failures were due to credit risk. Due to this, banks are restricting their lending operations to secured avenues only with adequate collateral on which to fall back upon in a situation of default.GLOBAL NPA: The core banking is of mobilizing the deposits and utilizing it for lending to industry. Lending business is generally encouraged because it has the effect of funds bein g transferred from the system to productive purposes which results into economic growth. However lending also carries credit risk, which arises from the failure of borrower to fulfill its contractual obligations either during the course of a transaction or on a future obligation. A question that arises is how much risk can a bank afford to take? Recent happenings in the business world – Enron, WorldCom, Xerox, Global Crossing do not give much confidence to banks.In case after case, these giant corporates became bankrupt and failed to provide investors with clearer and more complete information thereby introducing a degree of risk that many investors could neither anticipate nor welcome. The history of financial institutions also reveals the fact that the biggest banking failures were due to credit risk. Due to this, banks are restricting their lending operations to secured avenues only with adequate collateral on which to fall back upon in a situation of default. It needs to be recognized that prudential norms in respect of loan classification vary widely across countries.A country follows varied approaches, from the subjective to the prescriptive. Illustratively, in the United Kingdom, supervisors do not require banks to adopt any particular form of loan classification and either is there any recommendation on the number of classification categories that banks should employ. Other countries, such as, the United States follow a more prescriptive approach, wherein loans are classified into several categories based on a set of criteria ranging from payment experience to the environment in which the debtor evolves.The adoption of such a system points to the usefulness of a structured approach those facilities the supervisor’s ability to analyze and compare banks loan portfolios. India is a better bet than China for investors to pump money into non-performing assets (NPAs) restructuring as it has better environment for recovery, according to consulti ng firm Price water House Coopers (PwC). WARNING: STANDARD & POOR: Standard & Poor’s and The Credit Rating Information Services of India Ltd. , (CRISIL) estimate that India’s schedule commercial banks require between US$11billion-US$13billion in new capital to support losses embedded in impaired assets.The significant capital shortfall estimated recognizes the existing moderate reported capital position of Indian banks, the inadequate loan loss reserves maintained by the banks to absorb likely losses. The weak capital position of the Indian banking system is largely a reflection of growing asset-quality problems stemming from weak underwriting and credit management system, and the vulnerabilities of the Indian banking sector to the impact of globalization on the country’s key industry sectors. The asset-quality position also has suffered from regulations with respect to lending to priority sectors. The capital shortfall calculated assumes a significantly higher system non-performing loan level to that reported under Indian regulatory standards,† said Peter Sikora, associate director, Financial Services Rating, Standard & Poor’s, together with CRISIL are, however, of the view that non performing loan levels for Indian banks will be significantly higher at 20%-25% if more conservative classification standards are adopted and restructured, and ever greened loans are included as impaired assets. LENDING BEHAVIOUR OF BANKS:Due to the excess liquidity in the banking system, banks are now giving credit to even non-priority sectors in an aggressive manner. Now banks give credit more to unproductive purposes, like car loans, housing loans, consumer durables loans and personal loans. This reckless lending paves the way to repayment irregularities and more of NPA in the banking system. But on the others side economy has become buoyant and the borrowers are now in a position to repay the loans even if it is an unproductive loan.Banks have improved their credit appraisal system. NPA percentage in City Bank’s Car Loan Portfolio is zero, because of the sophisticated credit appraisal system followed by the bank. Banks now give priority to ‘businesses’ and lending schemes also follow the path. CLASSIFICATION OF ASSETS: CATEGORIES OF NPAs: Banks are required to classify non-performing assets further into the following three categories based on the period for which the asset has remained non-performing and the realisability of the dues: a) Sub-Standard Assets. ) Doubtful Assets. c) Loss Assets. SUB-STANDARD ASSETS: A sub-standard asset was one, which was classified as NPA for a period not exceeding two years. With effect from 31March 2001, a sub-standard asset is one, which has remained NPA for a period less than or equal to 18 months. In such cases, the current net worth of the borrower / guarantor or the current market value of the security charged is not enough is not enough recovery of the dues to t he banks in full.In other words, such an asset will have well defined credit weakness that jeopardize the liquidation of the debt and are characterized by the distinct possibility that the banks will sustain some loss, if deficiencies are not corrected. With effect from 31March 2005, a sub-standard asset would be one, which has remained NPA for a period less than or equal to 12 months. DOUBTFUL ASSETS: A doubtful asset was one, which remained NPA for a period exceeding two years. With effect from 31March 2001, as asset is to be classified as doubtful, if it has remained NPA for a period exceeding 18 months.A loan classified as doubtful has all the weaknesses inherent in assets that were classified as sub-standard, with the added characteristic that the weaknesses make collection or liquidation in full, – on the basis of currently know facts, conditions and values – highly questionable and improbable. With effect from 31March, 2005, an asset to be classified as doubtful if it remained in the sub-standard category for 12 months. LOSS ASSETS: A loss asset is one where loss has been identified by the bank or internal or external auditors or the RBI inspection but the amount has not been written off wholly.In other words, such an asset is considered uncollectible and of such little value that its continuance as a bankable asset is not warranted although there may be some salvage or recovery value. It should be noted that the above classification is only for the purpose of computing the amount of provision that should be made with respect to bank advances and certainly not for the presentation of advances in the bank balance sheet. The Third Schedule to the Banking Regulation Act 1949, solely governs presentation of advances in the balance sheet.Banks have started issuing notices under The Securitization Act,2002 directing the defaulter to either pay back the dues to the bank or else give the possession of the secured assets mentioned in the notice. Ho wever, there is a potential threat to recovery if there is substantial erosion in the value of security given by the borrower or if borrower has committed fraud. Under such a situation it will be prudent to directly classify the advances as a doubtful or loss asset, as appropriate. RBI GUIDELINES FOR CLASSIFICATION OF ASSETS:Broadly speaking, classification of assets into above categories should be done taking into account the degree of well-defined credit weaknesses and the extent of dependence on collateral security for realization of dues. Banks should establish appropriate internal systems to eliminate the tendency to delay or postpone the identification of NPAs, especially in respect of high value accounts. The banks may fix a minimum cut off point to decide what would constitute a high value account depending upon their respective business levels.The cut off point should be valid for the entire accounting year. Responsibility and validation levels for ensuring proper asset cla ssification may be fixed by the banks. The system should ensure that doubts in asset classification due to any reason are settled through specified internal channels within one month from the date on which the account would have been classified as NPA as per extent guidelines. UPGRADATION OF LOAN ACCOUNTS CLASSIFIED AS NPAs:If arrears of interest and principal are paid by the borrower in the case of loan accounts classified as NPAs, the account should no longer be treated as non-performing and may be classified as ‘standard’ accounts. Asset Classification to be borrower-wise and not facility-wise: i. It is difficult to envisage a situation when only one facility to borrower becomes a problem credit and not others. Therefore, all the facilities granted by a bank to a borrower will have to be treated as NPAs and not the particular facility or part thereof which has become irregular. ii.If the debts arising out of development of letter of credit or invoked guarantees are p arked in a separate account, the balance outstanding in that account for should be treated as a part of the borrower’s principal operating account for the purpose of application of prudential norms on income recognition, asset classification and provisioning. Accounts where there is erosion in the value of Security: i. A NPA need not go through the various stages of classification in cases of serious credit impairment and such assets should be straightaway classified as doubtful or loss asset as appropriate.Erosion in the value of security can be reckoned as significant when the realizable value of the security is less than 50 percent of the value assessed by the bank or accepted by RBI at the time of last inspection, as the case may be. Such NPAs may be straightaway classified under doubtful category and provisioning should be made as applicable to doubtful assets. ii. If the realizable value of the security, as assessed by the bank / approved valuers / RBI is less than 10 p ercent of the outstanding in the borrowal accounts, the existence of security should be ignored and the asset should be straight away classified as loss asset.It may be either written off or fully provided for by the bank. RESTRCTURING / RESCHEDULING OF LOANS: A standard asset where the terms of the loan agreement regarding interest and principal have been renegotiated or rescheduled after commencement of production should be classified as sub-standard and should remain in such category for at least one year of satisfactory performance under the renegotiated or rescheduled terms.In the case of sub-standard and doubtful assets also, rescheduling does not entitle a bank to upgrade the quality of advance automatically unless there is satisfactory performance under the rescheduled / renegotiated terms. Following representations from banks that the foregoing stipulations deter the banks from restructuring of standard and sub-standard loan assets were reviewed in March 2001. In the contex t of restructuring of the accounts, the following stages at which the restructuring / rescheduling / renegotiation of the terms of loan agreement could take place can be identified: a) Before commencement of commercial production. ) After commencement of commercial production but before the asset has been classified as sub-standard. c) After commencement of commercial production and after the asset has been classified as sub-standard. PROVISIONING REQUIREMENTS: As and when an asset is classified as an NPA, the bank has to further sub-classify it into sub-standard, loss and doubtful assets. Based on this classification, bank makes the necessary provision against these assets. Reserve Bank of India (RBI) has issued guidelines on provisioning requirements of bank advances where the recovery is doubtful.Banks are also required to comply with such guidelines in making adequate provision to the satisfaction of its auditors before declaring any dividends on its shares. In case of loss asse ts, guidelines specifically require that full provision for the amount outstanding should be made by the concerned bank. This is justified on the grounds that such an asset is considered uncollectible and cannot be classified as bankable asset. Asset TypePercentage of Provision Sub-Standard (age upto 18 months) 10% Doubtful 1 (age upto 2. 5years) 20% Doubtful 2 (age 4-5years) 30%Doubtful 3 (age above 4-5years) 50% Loss Asset 100% THE NPA PROBLEM: The origin of the problem of burgeoning NPAs lies in the quality of managing credit risk by the banks concerned. What is needed is having adequate preventive measures in place namely, fixing pre-sanctioning appraisal responsibility and having an effective post-disbursement supervision. Banks concerned should continuously monitor loans to identify accounts that have potential to become non-performing. The performance in terms of profitability is a benchmark for any business enterprise including the banking industry.However, increasing NPAs h ave a direct impact on banks profitability as legally banks are not allowed to book income on such accounts and at the same time banks are forced t make provision on such assets as per the RBI guidelines. Also, with increasing deposits made by the public in the banking system, the banking industry cannot afford defaults by borrowers since NPAs affects the repayment capacity of banks. Further, RBI successfully creates excess liquidity in the system through various rate cuts and banks fail to utilize this benefit to its advantage due to the fear of burgeoning non performing assets.CREDIT APPRAISAL SYSTEM: Prevention of standard assets from migrating to non performing status is most important in NPA management. This depends on the style of Credit Management Mechanism available in banks. The quality of credit appraisal and the effectiveness of post credit appraisal and effectiveness of post credit follow up influences the asset quality of the banks in a big way. At Pre-Credit Stage: 1. Extensive enquiry about the character and the credit worthiness of the borrower. 2. Viability of the project to be financed is meticulously studied. 3. Adequate coverage of collateral is ensured to the extent possible. . Financial statement of the borrower is obtained and poor analysis of their financial strength is done. 5. Apart from the published financial statements independent enquires are made with previous bankers. 6. Pre-Credit inspection of the assets to finance is made. At Post-Credit Stage: 1. Operations in the account are closely monitored. 2. Unit visit is done at irregular intervals. 3. Asset verification is done on a regular basis. 4. Borrowers submit control returns regularly. 5. Accounts are periodically to evaluate the financial health of the unit. 6. Early warning signals are properly attended to. . Close contract with the borrower is maintained. 8. Potential NPAs are kept under special watch list. 9. Potentially viable units are restructured. 10. Repayment progra m of accounts with temporary cash flow problem is re