Coordinate Adjectives Definition and Examples

Coordinate adjectives are a series of two or more adjectives that independently modify a noun and are roughly equal in importance. In contrast to cumulative adjectives, coordinate adjectives can be joined by and, and the order of the adjectives can be reversed. Likewise, coordinate adjectives (unlike cumulative adjectives)  are traditionally separated by commas. Note, however, Amy Einsohns observation in The Copyeditors Handbook  (2006): The convention of placing a comma between  coordinate adjectives  seems to be fading, perhaps as part of the trend toward open punctuation, perhaps because the absence of this comma rarely confuses readers, or perhaps because the distinction between coordinate and noncoordinate adjectives is sometimes hard to apply. Examples and Observations The air was thick and wet. A warm, dense fog had settled over the paddies and there was the stillness that precedes rain.(Tim OBrien, The Things They Carried. Esquire, 1987)The popular girls were the  blonde, blue-eyed  wealthy ones who lived on the beach and had suntans.(Linda Mintle,  A Daughters Journey Home. Thomas Nelson, 2004)Out in the hall she heard a single  loud, insistent  voice, but as she reached the head of the stairs it ceased and an outer door banged.(F. Scott Fitzgerald, The Cut-Glass Bowl. Scribners Magazine, May 1920)Timmy was no cute, dumb boy.  He was a  clever, conniving  businessman.(Grant Michaels, Dead as a Doornail. St. Martins Press, 1998)This patch of tall, knobby housing,  with its spindly porches and narrow cemented passageways between the house walls through which people passed into their back yards, gave a hivelike impression of intense and contented population. Farther in the same direction as these houses there was Second Street, wh ere  in solid small brick rows lived the sexy girls, the buoyant, sassy, handsome daughters of factory workers and skilled tradesmen.(John Updike,  Self-Consciousness, 1989)Testing for Coordinate AdjectivesThere are two tests for determining whether a pair of adjectives is coordinate. A pair of adjectives is coordinate if (1) one can place and between the adjectives, or (2) one can reverse the order of the adjectives and still have a sensible phrase. The phrase a long restful vacation passes both tests (a long and restful vacation; a restful, long vacation), and therefore these adjectives are coordinate. But a long summer vacation fails both tests (X a long and summer vacation; X a summer long vacation), and therefore these adjectives are not coordinate.(Amy Einsohn,  The Copyeditors Handbook: A Guide for Book Publishing and Corporate Communications, 2nd ed. University of California Press, 2006)Punctuating a Series of Adjectives: Coordinate vs. CumulativeMultiple adjectives mo difying the same noun or pronoun are considered either coordinate or cumulative;  if coordinate, each adjective could modify the noun separately, so commas are used, as in any series: The overripe, bursting, odiferous mangoes seeped onto the countertop. Notice that the arrangement of these adjectives has no particular order or rationale; each modifier might appear elsewhere in the series and and could be placed between them: The bursting and odiferous and overripe mangoes seeped onto the countertop.Cumulative adjectives, on the other hand, are not equivalent to a punctuated series  because the first adjective in the group is not individually modifying the noun but is instead modifying the noun-modifier combination that follows. For example, in the phrase obsolete desktop computer, obsolete modifies desktop computer and desktop modifies computer.These adjectives cannot appear in a different order (the desktop obsolete computer), nor can they be connected with and (the desktop and obsolete computer).(Gary Lutz and Diane Stevenson,  The Writers Digest Grammar Desk Reference. Writers Digest Books, 2005)

The Banking Sector in Indias Economic system - Free Essay Example

Sample details Pages: 8 Words: 2512 Downloads: 10 Date added: 2017/06/26 Category Economics Essay Type Analytical essay Did you like this example? The banking sector are said to be the cornerstone of the economic system of any economy. The banking sector is said to be the change leaders when it comes to the financial system of any country. The banks are not only a facilitator but also the change leader. Don’t waste time! Our writers will create an original "The Banking Sector in Indias Economic system" essay for you Create order The banks are said to be the financial engineers as they device the best policies in order to facilitate the investment-savings mechanism. When talked about the banking sector of our country, we can say that it has evolved over decades. From being a closed and bureaucratic structure to now a redefined change led mechanism, the banking sector has changed a lot. The banking sector has been reformed from time to time in order to acquaint itself better to the changing needs and requirements of the economy. The banking sector in India is said to be among one of the most stable one. This point has been proved by the policies which were adopted during the economic recession which shook the world. The banking sector has been adopting the policies so as to safeguard not only the interest of the people who put in their deposits but for the economy as a whole. The banking sector has been in a stage of learning and development and continues to be in that stage so as to walk with time. T he scenario of the Indian banking sector has changed a lot from what it was 50 years ago. The country is now having not only more banks but also the banks are providing the services which were said to be out of purview of their scope of actions. From being policy oriented to being customer oriented, the Indian banking sector has revamped the whole economic structure. From the performance point of view we can clearly see that there has been an up trend. The banks from being a marginally profitable units, it has evolved to being a not only profitable corporation but also matching the international standards of banking. The performance of banking sector has improved 360 degree. The banks have not only improved in the balance sheet but has also improved in operations. There are many things that can be taken as the reason for such an improvement in the banking sector. It could be because of the healthy competition that has developed among the banks, or it could be because of better policies which have been adopted by the banks in order to manage their assets and deposits. It could because of the reforms that has been brought which facilitated the operations of the banks. Our research would be aimed at analyzing the performance of the banking sector over a period of 2001-2009 and try to find out as to how it has improved or detoriated over the years. The analysis would be done in the light of some reforms that have been brought in over the years. The research would take into consideration few of the reforms over the year and it would be seen as to whether they had an impact over the performance of the banks or not. In our research we shall take into consideration 12 banks, in which 6 banks will be Public Nationalised banks and the other 6 would be Private Sector banks. The reason for such a sample is that even though both types of banks belong to the same population of banks but their basic fundamentals are different from each other. We shall analyse the performance of the banking sector on 3 parameters in the light of the reforms taken over the years. The reforms that are been taken into consideration will be introduced in the following paragraphs with an effort to explain their implications in brief. The reforms are as follows:- REFORMS: The reforms would be studied under various heads. The introduction to reforms are as follows:- General Reforms:- The general banking reforms are as follows: 1. Government equity in banks has been reduced and strong banks have been allowed to access the capital market raising additional capital. 2. Bank now enjoying the operational freedom in terms of opening of new branches and bank having good track record of profitability given flexibility in recruitment. 3. New private sector banks have been set up and foreign banks are allowed to expand their function in India including through subsidiaries. 4. Banks are also allowed to set up off shore banking units in SEZ. 5. N ew instrument have been introduced for better flexibility and better risk management like interest rate exchange, cross currency forward contract. 6. New areas open like- : Æ’Ëœ Insurance Æ’Ëœ Credit card Æ’Ëœ Infrastructure financing Æ’Ëœ Gold banking Æ’Ëœ Investment banking 7. Several new institution have been set up- : Æ’Ëœ National securities depositor limited Æ’Ëœ Central depositors service limited Æ’Ëœ Credit information bureau India limited 8. Limits for overseas investment have been liberalized. 9. The overseas investment for corporate have been raised to hundred percent 10. Universal banking has been introduced. 11. Adoption of global standard 12. Prudential norms for capital adequacy, Assets classification , income reorganization, best accounting system, settlement system are ado pted 13. Freedom in operation 14. Disinvestment of public ownership in public sector bank 15. Transparent norms for private and foreign bank 16. Permission for FDI and portfolio investment in banking Reforms of 1992: The reforms that were brought in the year 1992 can be seen in brief as follows:- (a) Measures for liberalization, like dismantling the complex system of interest rate controls, eliminating prior approval of the Reserve Bank of India for large loans, and reducing the statutory requirements to invest in government securities. (b) Measures designed to increase financial soundness, like introducing capital adequacy requirements and other prudential norms for banks and strengthening banking supervision; (c) Measures for increasing competition like more liberal licensing of private banks and freer expansion by foreign banks. The better explaination of all the reforms done in the era of 1990s would be seen properly with the help of the recommendat ions of the Narshimahan committee. Reforms of 2005-2006: The reforms in the year 2005-206 can be enlisted as follows:- Æ’Ëœ Autonomy to RBI to implement reforms in banking sector. Æ’Ëœ Amendment of the Banking Regulation Act. Æ’Ëœ Allow banking companies to issue preference shares to boost their Tier-I capital. Æ’Ëœ Introduce provisions to enable the consolidated supervision of banks and their subsidiaries by RBI. Æ’Ëœ Increase bank lending to agricultural sector by 30% and PSU banks to increase number of agricultural borrowers by 5 m. Æ’Ëœ Remove the lower and upper bounds to the statutory liquidity ratio and removal of the limits on the cash reserve ratio to provide flexibility to RBI to prescribe prudential norms Æ’Ëœ 0.1% banking transaction tax to be imposed on cash withdrawals above Rs 10,000 on a single day. Æ⠀™Ã‹Å“ Enable RBI to lend or borrow securities by way of repo, reverse repo or otherwise. Æ’Ëœ Removal of benefits available to depositors (Section 80-L) Æ’Ëœ The statutory pre-emptions in the form of SLR and CRR have been brought down in a phased manner to 25% and 4.5% respectively. Æ’Ëœ In order to strengthen the financial position of banks, minimum Capital to Risk Weighted Assets Ratio (CRAR) was prescribed at 8%, which was further increased to 9% from the year ending March 31, 2000. Reforms of 2006-2007: The reforms of the period of 2006-2007 are as follows:- Æ’Ëœ Banks to increase disbursements to farmers to Rs 1,750 bn by FY07 (with addition of 5 m farmers) and open a separate window for self-help groups (SHGs). Additional 0.4 m SHGs to be credit-linked by FY07 in association with NABARD. Æ’Ëœ Farmers to be extended short-term credit at interest rate of 7% p.a. with an upper limit of Rs 0.3 m on the principal amount. Æ’Ëœ Net capital support to banking sector (by way of issuance of special nontradable government securities), standing at Rs 228 bn at the end of 9mFY06, to be restructured by their conversion to tradable SLRs. Æ’Ëœ Fixed deposits with tenures of not less than 5 years to be included under Section 80 C for tax exemptions. Æ’Ëœ Loans to food processing sector to be included in the priority-sector lending basket. Æ’Ëœ ATM operations and collection services provided by banks in public issues to be brought under the service tax net. Æ’Ëœ Banking Cash Transaction Tax (BCTT) to continue for some more time until the AIR system is able to capture all significant financial transactions. Reforms of 2007-2008: The reforms of 2007-2008 are as follows:- Æ’Ëœ Farm credit target for FY08 set at Rs 2,250 bn with an addition of 5 m new farmers to the banking system and provision of Rs 17 bn for 2% interest subvention for short-term crop loans. Æ’Ëœ To augment resources for refinancing rural credit cooperatives, NABARD to issue Government guaranteed rural bonds to the extent of Rs 50 bn Æ’Ëœ SARFAESI Act to be extended to loans advanced by Regional Rural Banks (RRBs). RRBs to be permitted to accept NRE/FCNR deposits and those that have a negative net worth to be recapitalized. Æ’Ëœ Cooperative banks to be allowed deduction in respect of provision for bad and doubtful debts under section 36(1)(viia). Also, amalgamation and de-merger of banking companies is tax neutral. This benefit to be extended to cooperative banks Æ’Ëœ Cash withdrawals by Central and State Governments to be excluded from the scope of Banking Cash Transactions Tax (BCTT). Exemption limit for individuals and HUFs to be rai sed from Rs 25,000 to Rs 50,000 Æ’Ëœ The government has proposed to acquire RBIs equity holding in State Bank of India (59% currently). It has provided a sum of Rs.400 bn for this purpose, but the transaction will be deficit neutral to the government. Also, the fund of Rs 7.5 bn created for awarding 0.1 m (of Rs 6,000 each per year) will be placed with the SBI, and the yield from the fund will be used for awarding the scholarships. Æ’Ëœ Increase in dividend distribution tax from 12.5% to 15%. Æ’Ëœ 1% higher education cess to charged. Æ’Ëœ No interest on CRR: The staggered three-staged rise in the CRR from 6% to 7.5% bore a telling impact on the banking sectors liquidity scenario. Besides together locking in liquidity to the tune of approximately Rs 25 bn from being deployed in productive revenue generating resources (advances and investments), the removal of interest payable by the RBI on CRR mai ntained by banks above 3.5% of net demand and time liabilities, made it completely non-remunerative for the latter. Recommendations of Narshimham Committee I: The recommendations of the Narshimham Committee I are as follows:- (1) Establishment of a four-tier hierarchy for the banking structure consisting of three to four large banks with SBI at the top. (2) The private sector banks should be treated equally with the public sector banks and govt. should contemplate to nationalize any such banks. (3) The ban on setting new banks in private sector should be lifted and the licensing policy in the branch expansion must be abolished. (4) The govt. has to be more liberal in the expansion of foreign bank branches and also foreign operations of Indian banks should be rationalized. (5) The Statutory Liquidity Ratio (SLR) and Cash Reserve Ratio (CRR) should be progressively brought down from 1991-92. (6) The directed credit program should be re-examined and the priority sector should be redefined to comprise small and marginal farmers, the tiny industrial sector, small business operators and weaker sections. (7) Banking industry should follow BIS/Basel norms for capital adequacy within three years. (8) Interest rates should be deregulated to suit the market conditions. (9) The govt. should tighten the prudential norms for the commercial banks. (10) The competition in lending between DFIs and banks should be increased and a shift from consortium lending to syndicated lending should be made. (11) In respect of doubtful debts, provisions should be created to the extent of 100 percent of the security shortfall. (12) The govt. share of public sector banks should be disinvested to a certain percentage like in case of any other PSU. (13) Each public sector banks should set up at least one rural banking subsidiary and they should be treated at par with RRBs. Recommendations of the Narshimham Committee II: The recommendations of Narshimham Committee II are as follows:- (1) The committee favored the merger of strong public sector banks and closure of some weaker banks if their rehabilitation was not possible. (2) It recommended corrective measures like recapitalization is undertaken for weak banks and if required such banks should be closed down. (3) The committee had also suggested an amicable golden handshake scheme for surplus banking sector staff. (4) Suggesting a possible short term solution to weak banks, the report observed that the narrow banks could be allowed as a mean of facilitating their rehabilitation. (5) Expressing concern over rising non-performing assets, the committee provided the idea of setting up an asset reconstruction fund to tackle the problem of huge non performing assets (NPAs) of banks under public sector. (6) The report emphasized the need of enhancement of capital adequacy norms from the present level of 8 percent but did not specify the amount to which it shou ld be raised. (7) The Banking Sector Reform Committee further suggested that existence of a healthy competition between public sector banks and private sector banks was essential. (8) The report envisaged flow of capital to meet higher and unspecified levels of capital adequacy and reduction of targeted credit. SARFAESI ACT, 2002: The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) empowers Banks / Financial Institutions to recover their non-performing assets without the intervention of the Court. The Act provides three alternative methods for recovery of non-performing assets, namely: Securitisation Asset Reconstruction Enforcement of Security without the intervention of the Court The provisions of this Act are applicable only for NPA loans with outstanding above Rs. 1.00 lac. NPA loan accounts where the amount is less than 20% of the principal and interest are not eligible to be dealt with under this Act. Non-performing assets should be backed by securities charged to the Bank by way of hypothecation or mortgage or assignment. Security Interest by way of Lien, pledge, hire purchase and lease not liable for attachment under sec.60 of CPC, are not covered under this Act The Act empowers the Bank: To issue demand notice to the defaulting borrower and guarantor, calling upon them to discharge their dues in full within 60 days from the date of the notice. To give notice to any person who has acquired any of the secured assets from the borrower to surrender the same to the Bank. To ask any debtor of the borrower to pay any sum due or becoming due to the borrower. Any Security Interest created over Agricultural Land cannot be proceeded with. If on receipt of demand notice, the borrower makes any representation or raises any objection, Authorised Officer shall consider such representation or objection carefully and if he comes to the conclusion that such representation or objection is not acceptable or tenable, he shall communicate the reasons for non acceptance WITHIN ONE WEEK of receipt of such representation or objection. A borrower / guarantor aggrieved by the action of the Bank can file an appeal with DRT and then with DRAT, but not with any civil court. The borrower / guarantor has to deposit 50% of the dues before an appeal with DRAT. If the borrower fails to comply with the notice, the Bank may take recourse to one or more of the following measures: Take possession of the security Sale or lease or assign the right over the security Manage the same or appoint any person to manage the same

Partition of India 1947 Free Essays

In 1600, the British East India Company was established, and in 1858, The India Act allowed for power to be transferred to the British government. The British Government never had complete control, but it certainly had power. The Partition of India happened on August 14th, 1947 and August 15th, 1947. We will write a custom essay sample on Partition of India 1947 or any similar topic only for you Order Now When the British left India on August 15th, 1947 (after the formation of the Islamic Republic of Pakistan), they left the country divided. This led to the formation of Pakistan and India, and later, in 1971, Bangladesh declared its independence from Pakistan. Motivation When the British had occupied India, they categorized the people of India by religion, and treated them as separate groups. A Hindu revival happened around the time of the Partition. They still had bitterness towards Muslims (who had been the predominant rulers of India before the British). They tried to band the slaughter of cows, change the national language to Hindi, and change the Devanagri script to Hindi. Although the Sikhs (who originated in Punjab) were a minority in the population of India, they were conflicted with the Muslims, and were forced to leave Punjab and migrate to Hindu India. (They were not conflicted with Hindus). The All India Muslim League (AIML) started in 1906 with the goal to make Muslims equal in rights to Hindus. At the time, the Indian National Congress was made mostly of Hindus. In 1940, Jinnah (a leader equal to Ghandi, except that he represented Muslims, and Ghandi represented Hindus) stated at the Lahore Conference that promoted a Muslim nation separate from the rest of India. In 1943, the AIML called for Britain to Divide and Quit. Hindus also acknowledged the difference in beliefs that separated them from Muslims. Between 1940 and 1942, Congress began plans to remove the British (the National Congress was calling for Britain to Quit India). Due to the conflicting ideas on the separate sides, the country came close to a civil war many times. Some of the events that started the partition of India are: the Revocation of Partition of Bengal (created anti-British and anti-Hindu feelings), The Lucknow Pact denial, Mantagu-Chelmsford Reforms, Ghandi’s Stayagraha, Congress called for full independence from Britain in 1929, Round table Conferences (dominion status for India, congress doesn’t attend), and Government of India Act 1935 (allows British control over foreign policy and defense, but gives India political provinces and elected local gov. ). Before†¦ During the 16th century, nations looking to extend their power: Portugal, the Netherlands, Denmark, France, and Great Britain, established trading posts in India. When Britain took over power in India there were internal struggles that allowed themselves to gain power in India. After the 12th century, the Mughal Empire came into power. They formed alliances with Rajput Empires, which were considered a threat to the Mughals even after they became allies. The Ahoms of Assam resisted the Mughal Empire. Aurangzeb king of the Mughals enforced Muslim doctrines. The Rajputs and Ahoms rebelled against his reign, and the strict beliefs he imposed on them. By the 1700s, the Sikh Empire (Ahoms of Assam) and the Hindu Marathas were a serious threat to the Mughals. By the mid 18th century, the Mughal Empire had declined, and the Marathas owned a great portion of their land. It was right around then that foreign nations started to come in and set up trade and colonies. A year after (in 1857) the British installed their power in India; there were insurrections from the people of India. They were put under direct rule from the British crown as a result. Between 1860 and 1900, there were the worst famines India had ever experienced, and caused 14. 5 million people to die. In 1939, India went to war with Germany (WWII). However, Indian nationalists wish to overthrow the British rule in India, and joined forces with the Axis powers. Needless to say, they didn’t win the war. In 1943, there was mass food hoarding due to poor food distribution and high prices of food, which caused a famine. Effects There were 500,000 deaths as a result of the fight for independence, and the migration of Hindus to India, Sikhs to India, and the Muslims to Pakistan. Kashmir was a part of the territory that is still disputed to this day (between the countries India and Pakistan, and at some places, China). The Kashmir conflict resulted in the Indo-Pakistani Wars of 1947, 1965, and 1999. The First Indo-Pakistani War of 1947 began in October 1947 when the Maharajah of the princely state of Kashmir and Jammu was pressured to decide to join either Pakistan or India. Britain became involved and it passed Resolution 47 that instituted the line of control in December 1948. Pakistan got northern and western areas of Kashmir, and India got southern, central and northeastern areas. The Second Indo-Pakistani War of 1965 began in 1965 when Pakistan launched Operation Gibraltar; a plan which allowed for troops to infiltrate Jammu and Kashmir and overthrow Indian rule there. India responded, and war ensued for 5 weeks. It was ended with the British assisted Tashkent Declaration. The Third Indo-Pakistani War of 1999 began with Pakistan occupying the Kargil district that was lawfully Indian land. The Pakistani retreated with Indian military threat looming and foreign diplomatic pressure. Today, India controls 43% of Jammu and Kashmir, Pakistan 37%, and China 20%. Many Sikhs and Hindu Punjabis settled in the Indian parts of Punjab and Delhi. Most of the Hindus ended up in Eastern and Northeastern India, and some were sent to the Andaman Islands, causing them to become more populated. The Sindhi people’s cultures were very much disturbed. When they migrated to India, the government had to build refugee camps for the masses that were pouring in. It strained the economy, and caused disorder. They lost much of their heritage and history in the confusion that the migration had caused. Pakistan became a bit less populated. Its population had decreased by approx. 23,000 (because more people had left than Muslims had come). How to cite Partition of India 1947, Essay examples