Plato s Theory Of Knowledge - 1413 Words

Plato’s theory of knowledge claims that knowledge is only achieved in what is eternal and unchanging. True knowledge is distinguished from all else by its unique nature of being perceived by intellection and without hypothesis. Throughout the Republic, Plato attempts to explain through several images of speech and conceptual examples the essence of what is and what is not true knowledge. Plato’s model of education is reflective of his belief that the purpose of education is to point towards knowledge of the form of the good and the formation of a good soul. How is knowledge achieved? Music and gymnastics in the process of working towards positive formation of the soul Why it is important: -Plato’s theory of forms-things that are in†¦show more content†¦Knowledge is not perception or appearance, as both are subjective matters of opinion. Formal knowledge does not include things that are physical, because these physical objects can change or be altered whereas purely formal knowledge is unchanging. Opinions are not as certain and concrete as knowledge, and have not been proven to be definitely true; therefore they are not considered to be a form of true knowledge. Also on the opinion side of the divided line is imaging, or imitation, including representations and likenesses that resemble something else. One problem that Plato raises with imaging is that there is [[QUOTE]]], and that images should instead be used to convey larger ideals that point towards the desirable and good. Between the regions of opinion and knowledge there exists a thick line of separation. On the side of the line opposite opinion is true knowledge, a knowledge that is not complete with awareness of individual objects but extends beyond the visible realm to explore the relationships between objects, the intelligible realm. Though not all people need to cross over this dividing line, it is important that some people do, especially some members of the guardian class that will be among the candidates for future positions of leadership. The pursuit of knowledge is of greatest importance for

Television in the Information Age Essays - 2768 Words

Television in the Information Age Introduction Television. Most Americans today cannot imagine life without it. It is how we relax, laugh, learn, and stay up to date on current events. The inventors of television may not have realized the impact of combining sound with moving pictures. For the first time in the history of the world we were and are able to peek into the lives of people we will never meet and visit places we will never go. It has even changed the way we communicate with each other in our everyday lives! Who has not heard or used the phrase coined by the sitcom, Seinfield, â€Å"†¦not that there’s anything wrong with that†¦.†? This analysis will first examine the origins of television and the evolution†¦show more content†¦TV provided only black and white images until the first color TV was released on the market in 1953. Of all the information communication devices created in the Information Age, TV had, and remains to have, the greatest impact on society (www.vislab ). Furthermore, TV is the most passive of all the information communication devices of the information age in that it employs only one-way communication (www.vislab). It is interesting to note that computers were invented in the 1930s, around the same time as TVs; however, the two technologies are just recently beginning to meld together. Once TVs hit the marketplace, the job of TV technology innovation shifted from traditional scientific research to the research and development departments of the corporate arena (www.mit.edu). As consumers demand continuous advancements in TV technology, TVs and TV accessories will necessarily become increasingly sophisticated and capable of processing a larger amount and a greater variety of information. The only way to practically achieve these capabilities is to utilize digital technology, therefore, we are on the cusp of a revolution in the TV marketplace; a revolution that will likely result in the merging of TV with traditional, computer t echnology and information systems (digital technology). Current TrendsShow MoreRelatedNeil Postman s Exploration Of This Issue1737 Words   |  7 Pageshow information was obtained and current issues were discussed prior to this century they come to find that the contrast between now and then is so outstanding. It’s completely clear why many people aren’t aware of what has been happening. The reason the difference is so profound is because our discourse has gradually been dumbed-down since the beginning of the information era, and people are treating the serious issues that arise as entertainment. The most powerful culprit being television, hasRead MoreThe As A Visual And Television Culture1209 Words   |  5 Pagesthe age of typography to the age of visual media and how it has greatly impacted the American culture. Postman points out several reasons to support his opinion that the transition has indeed proven to have a negative effect on the American people. How did, what was once almost entirely a typographical culture, become so completely a visual and television culture? Postman begins explaining this transition by first describing what life in the 1800’s looked like. â€Å"Until the 1840’s, information couldRead More Psychology Of Television Essay923 Words   |  4 Pages Psychology of Television nbsp;nbsp;nbsp;nbsp;nbsp;Today many people think that television is the cause of violence in todayamp;#8217;s youth. Many have pondered that television disturbs traditions as well as interferes with the minds of adolecened children who can not yet comprehend the truth of fiction and reality. Thus television has become a widely talked about controversy, mainly because of the fatal incidents that have been occurring during the past couple of years. Questions are beingRead MoreThe World Of The Age Of Medi Entertainment And Relevancy985 Words   |  4 PagesLiving in the Age of Media: Entertainment and Relevancy The significant presence of electronic media has gradually become a crisis of society’s problems. Though it seems to go unnoticed by most, the obtainment of our information that we are receiving is a mere means of entertainment thanks to the universalization of media and television. Postman discusses the consequences of living in a technologically advanced age by discussing four aspects of society that are most affected: the news, religionRead MoreTelevision - Friend or Foe?1630 Words   |  7 PagesTelevision – Friend or Foe Communications technology is expanding through the entire global community. Children everywhere are born into a world of images and messages. In society today storytellers are rarely parents, grandparents, and teachers, but instead there are a handful of tar-away forces with something to sell. The media has become part of our culture as well as our identity. There are many different kinds of media, which comes in many different forms. For example, television, radioRead MoreThe Effects Of Television And Video Game Violence On Children899 Words   |  4 Pagesfollowing paper will examine the negative effects of television and video game violence on children who watch and play these games. Speculation as to the causes of the recent mass shootings in American schools and other public places motivated me to pay more attention to violence on television and in video games and write this paper. Most of these horrible attacks on innocent people occurred by a teenager or young adult. Flipping through television channels, I started paying attention to what typeRead More1984 By George Orwell Literary Analysis1625 Words   |  7 Pagesas their information overload desensitized the public into acquiescing this seemingly friendly, but not any less damaging, worldview. As the world enters a new age of modern technology, many of Huxley’s notions are beginning to become more realistic, rather than Orwell’s fears of cultural oppression. Throughout Amusing Ourselves to Death, author Neil Postman speaks in favor of Huxley’s prophetic vision of the future of popular culture and public discourse by explaining how television has vastlyRead MoreThe Visual Arts, Technology, And Philosophy1683 Words   |  7 PagesOne may wonder how much did The Information Age really contribute to society and, more specifically, the visual arts, technology, and philosophy. The Information Age, as defined by Gloria K. Fiero, is â€Å"dominated by radical changes in th e technology of communication and the way we receive and process information† (Fiero, 476). The Information Age paved the way for several brilliant artists to not only share their work, but create their work. Artists, such as Andy Warhol, expressed their artistic abilitiesRead MoreSocialization As A Function Of Media1561 Words   |  7 Pagesmediums that project news and information, greatly affect what and how we learn about the world around us. In particular, television has become the outlet with the greatest socialization impact in its influence on young viewers. The distribution of information has become a part of the process by which people learn about societal values and behaviors and come to understand cultural expectations. Through entertainment and news programming, mass media such as television have become powerful influencesRead More The Social Benefits of Mass Communication Essay1729 Words   |  7 Pagesbreaths life into this organism called the mass media machi ne. From the earliest time periods in human history mass media was communicated through â€Å"word of mouth,† and it was that very relationship that spawned small town gossip in the middle ages , where information like what the local lord was doing and if he was hanging anyone that week for insubordination. Word of mouth continued until the invention of the printing press in 1436 when the news of the town could be told and recorded forever. A present-day

Non Performing Assets Free Essays

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. We will write a custom essay sample on Non Performing Assets or any similar topic only for you Order Now 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 analysis 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 distribution, 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 continuously 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 invest 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 System 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. Comme rcial 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 fetches 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 reference 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 business 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 production 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 returns – 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 secu rity 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, medical 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 i ts 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 International 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 responsiveness, 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. CORPOR ATE 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% (annualized) at a September 2002 to 1. 28% (annua lized) 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 records 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 the 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 se condary 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 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 were 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. . 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 would 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 should 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 under 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 the 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 the 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 balance 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 appearing 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 ‘standard’, 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 guidelines 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 accounts. 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 amount. 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 borrower 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 includes: 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 refor ms 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 transformation 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) introduced 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 monitor 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 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. 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 consulting 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 the 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. However, 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 classification 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 parked 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 percent 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 context 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 doubtfu l 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 assets, 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 have 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 irr egular 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 program of accounts with temporary cash flow problem is re How to cite Non Performing Assets, Essay examples

Importance of Arts Education Essay Thesis Example For Students

Importance of Arts Education Essay Thesis Land (1993) highlights the fact that what is assessed in the classroom is What the teacher, the school and the community, value. Within present and future classrooms it is a teachers responsibility to integrate the five arts subjects into the already busy curriculum, and ensure our students are all able to experience the diverse culture we once were. Article 31 of the united Nation Convention for the rights of a child state children have the right to join in a wide range of cultural, artistic and other recreational activities (Eunice, 2013). In line with this statement, the Australian National curriculum aims for the development of five art subjects: Dance, Drama, Music, Media and Visual Arts and implementation from February 2014 (Australian Curriculum Assessment and Reporting Authority, 2013). Initially aimed as a hooch why principals, a nation wide approach not included till second phase tot the curriculum was developed (Russell-Bowie, 2012). With support trot the Victorian essential learnings giving the arts relationships between other subject domains Historian curriculum and assessment authority, 2009); New South Wales Syllabus giving equal opportunities between seven subject domains (Board of studies NEWS, 2006); Tasmania essential learning separating all subjects based on students outcomes (Hanson, 2004), being arts literate (Shills, Beseech and Bagley, 2006); and Queensland essential learnings separating a multitude of key earning areas equally (Queensland Study Authority, 201 0), there is clear support from the governments regarding arts education (Australian Council for the Arts, 2001) for the future generations, but Without the economical support from the government it is unlikely arts education will continue (Russell-Bowie, 2012). The public view regarding arts education has been under disrepute, through being seen as a soft subject with little connection to the real world (Rabin and Heeders, 2011). Although Page and Huckster (2005) undertook a poll where 90% of respondents thought arts is vital for well rounding, Rabin and Heeders state arts is not seen academically and does not prepare for the workplace (2011). We will write a custom essay on Importance of Arts Education Thesis specifically for you for only $16.38 $13.9/page Order now President Clinton is one influential person within history who has said in the past that he owes music for the success in his life, and without music running for president and consequentially winning would not of been possible (Australian Council for the Arts, 2001). In regards to what is taught in our schools, schools value what is tot economic value (Russell-Bowie, 2012) and with recent budget cuts the success of arts education is unlikely. Land (1999) reminds teachers that what we teach and assess is what students assume is valued by the teacher, the school and within the community. So does teaching and assessing in regards to the NAPALM test (Russell-Bowie, 2012), mean as a nation we only value the English and math results? Tars (2005) defines assessment by judgment Of students work and it is important, as teachers, these judgments are made appropriate to the learning experiences and the childrens background (Russell-Bowie, 2012). Recognizing that students go through times in their lives where change occurs (Land, 1999). Land (1999) highlights the importance Within the assessment Of the arts, Of clear and very explicit criteria and outcomes. Queensland Study Authority 2007) highlights the seven key criteria aspects students are marked upon in the Queensland essential learnings framework as knowledge and understanding, creating, presenting, responding, and reflecting. Land (1999) emphasizes the importance of not only criteria but also knowledge in the strategies off assessment. Russell-Bowie (2012) gives six strategies of observation, consultation, outcomes and indicators, self-assessment, peer assessment and checklists, It is also important to look towards the future and understand the effects the arts have on students and the achievement of students in other academia domains. Page and Hacker (2005) suggest through involvement within the arts students gave achieved significantly higher in math and verbal language aspects of SAT/ college entry results, giving students the ability to aim higher, and succeed with future goals. In a primary setting this was scene at Joseph Laziest School, where 80% of students were unable to read at grade level (Australian Council for the Arts, 20011 Within one year, with music integrated within the curriculum, there was an increase of over 300% in a year three classroom. A teachers goal in giving students the highes t chance of Success is achieved through developing skills, knowledge and confidence for inclusion of all five art forms. As teachers entering the profession confidence, awareness, knowledge and skills in preparation are key in the delivery Of arts education (Russell-Bowie, 2012; Land, 1999). The incorporation of the arts within everyday and non-arts related subjects is the key in the integration of the arts within classrooms. Preparation of knowledge, skills and the preparation of lessons are crucial (Land, 1999). .u03133bbd71b474c5b99883a213a537a8 , .u03133bbd71b474c5b99883a213a537a8 .postImageUrl , .u03133bbd71b474c5b99883a213a537a8 .centered-text-area { min-height: 80px; position: relative; } .u03133bbd71b474c5b99883a213a537a8 , .u03133bbd71b474c5b99883a213a537a8:hover , .u03133bbd71b474c5b99883a213a537a8:visited , .u03133bbd71b474c5b99883a213a537a8:active { border:0!important; } .u03133bbd71b474c5b99883a213a537a8 .clearfix:after { content: ""; display: table; clear: both; } .u03133bbd71b474c5b99883a213a537a8 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u03133bbd71b474c5b99883a213a537a8:active , .u03133bbd71b474c5b99883a213a537a8:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u03133bbd71b474c5b99883a213a537a8 .centered-text-area { width: 100%; position: relative ; } .u03133bbd71b474c5b99883a213a537a8 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u03133bbd71b474c5b99883a213a537a8 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u03133bbd71b474c5b99883a213a537a8 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u03133bbd71b474c5b99883a213a537a8:hover .ctaButton { background-color: #34495E!important; } .u03133bbd71b474c5b99883a213a537a8 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u03133bbd71b474c5b99883a213a537a8 .u03133bbd71b474c5b99883a213a537a8-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u03133bbd71b474c5b99883a213a537a8:after { content: ""; display: block; clear: both; } READ: Teen Pregnancy (900 words) EssayRussell- Bowie (2012) highlights the importance in preparing teachers before they enter the classroom and giving them a tool box of strategies for implementing the arts into classrooms. This gives teachers the confidence, another important element as highlighted by Russell-Bowie (2012), in teaching their students an array of arts subjects as well as incorporating these into common topics, themes, concepts and processes (Land, 1999). Awareness of career pathways, the ways students learn and achieve, and the criteria regarding student achievement (Land, 1 999) is crucial for a teacher to develop within a classroom and keeping up with advances within arts education is key. With the median age of teachers within 21st century classrooms approximately 44% of teachers are over the age of 45 and only 28% aged IS-24 (Australian Bureau of Statistics, 2006), the issue of teacher knowledge and development needs to be addressed. Assuming teachers over the age of 45 finished their training at 20, how can parents expect a teacher who graduated over 25 years ago to integrate arts within their classroom? Personal Development is key in keeping up with the advances within theory, technique and skills, and for those teachers who did not have the access to study these techniques, personal development is crucial in their own knowledge development and successfully developing their students abilities.

Do Plants Need Soil To Grow Essays - Land Management, Soil Science

Do Plants Need Soil To Grow? [School] DO PLANTS NEED SOIL TO GROW? [Name] [class] Period 0 [Professor] 2/8/00 TABLE OF CONTENTS: ? Problem ? Hypothesis ? Materials Used ? Diagram ? Procedure ? Data ? Calculation ? Sources of Error ? Conclusion PROBLEM: Are plants able to live in an environment without the seemingly essential nutrients of soil? HYPOTHESIS: Seeing as how certain plants can grow only in certain soils, it seems unlikely that any seeds would mature to a full healthy adult. MATERIAL USED: ? Seeds ? Plastic cups ? Ruler ? Kellogg's topsoil ? Gravel ? Paper towels ? Toothpicks ? Graduated Cylinder ? Water DIAGRAM: PROCEDURE: ? Gathered materials ? Assembled three cups with the proper soil (none, gravel, and topsoil) ? Placed seeds in the cups (5 each to make sure at least a few of them sprout) ? Placed 30 milliliters of water in all three cups (the amount of water will be the same and consistent throughout the experiment) ? Put in sun light outside ? Removed seeds that didn't sprout in 5 days ? Checked each seed for growth with ruler each day and recorded data ? Added 5 milliliters of water each day Calculation: Average growth per day for the plants with no soil, gravel, and topsoil is (in that order): 2.4cm / 28days = 0.08571428 cm 3.1cm / 28days = 0.20 ?/3 cm 6.5cm / 28days = 0.232142857cm Data: Day No Soil (Height in cm) Gravel (Height in cm) Top Soil (Height in cm) 1 0 0 0 2 0.1 0.1 0.1 3 0.2 0.2 0.3 4 0.4 0.4 0.7 5 0.7 0.6 1.2 6 1.2 1.0 1.7 7 1.6 1.5 2.0 8 1.8 1.9 2.5 9 2.0 2.2 2.8 10 2.4 2.5 3.0 11 2.4 2.7 3.5 12 2.4 2.9 3.8 13 2.4 3.0 4.2 14 2.4 3.0 4.5 15 2.4 3.1 4.9 16 2.4 3.1 5.2 17 2.4 3.1 5.5 18 2.4 3.1 5.6 19 2.4 3.1 5.8 20 2.4 3.1 6.0 21 2.4 3.1 6.1 22 2.4 3.1 6.1 23 2.4 3.1 6.1 24 2.4 3.1 6.2 25 2.4 3.1 6.2 26 2.4 3.1 6.4 27 2.4 3.1 6.4 28 2.4 3.1 6.5 Out of the 5 seeds in each cup, in the non-soil cup, 3 died, in the cup with gravel, 2 died, and in the cup with topsoil all seeds survived. Of the 2 remaining seeds in the cup with no soil, none were healthy. Of the 3 remaining seeds in the cup with gravel, 1 was semi-healthy. Of the 5 seeds in the cup with topsoil, 3 were healthy and the others were semi-healthy. SOURCES OF ERROR: The gravel might not have been washed thoroughly, so there could have been fungus, bugs or other diseases or could have had some pesticides. The same could be with the topsoil. There is also always some human error. I could have miss-measured. I did have a problem with my calculation. I averaged by using only the number of days there were changes for. I fixed that though. They all have their final heights divided by 28 days. There might also have been some confusion over heights of plants. Since there were multiple plants per soil type, I took the measure of the tallest at the time of measure. CONCLUSION: The topsoil was the best for the plants by far. The gravel might have had some nutrients, which helped the plants. The water alone was insufficient for growth. This shows that plants need nutrients from soil. Bibliography by the way, i bs'd this lab report Science

Raoults Law Example Problem - Vapor Pressure Change

Raoult's Law Example Problem - Vapor Pressure Change This example problem demonstrates how to use Raoults Law to calculate the change in vapor pressure by adding a strong electrolyte to a solvent. Raoults Law relates the vapor pressure of a solution on the mole fraction of the solute added to a chemical solution. Vapor Pressure Problem What is the change in vapor pressure when 52.9 g of CuCl2 is added to 800 mL of H2O at 52.0 Â °C.The vapor pressure of pure H 2O at 52.0 Â °C is 102.1 torrThe density of H2O at 52.0 Â °C is 0.987 g/mL. Solution Using Raoult's Law Raoults Law can be used to express the vapor pressure relationships of solutions containing both volatile and nonvolatile solvents. Raoults Law is expressed byPsolution ÃŽ §solventP0solvent wherePsolution is the vapor pressure of the solutionÃŽ §solvent is mole fraction of the solventP0solvent is the vapor pressure of the pure solvent Step 1 Determine the mole fraction of solutionCuCl2 is a strong electrolyte. It will completely dissociate into ions in water by the reaction:CuCl2(s) → Cu2(aq) 2 Cl-This means we will have 3 moles of solute added for every mole of CuCl2 added.From the periodic table:Cu 63.55 g/molCl 35.45 g/molmolar weight of CuCl2 63.55 2(35.45) g/molmolar weight of CuCl2 63.55 70.9 g/molmolar weight of CuCl2 134.45 g/molmoles of CuCl2 52.9 g x 1 mol/134.45 gmoles of CuCl2 0.39 molTotal moles of solute 3 x (0.39 mol)Total moles of solute 1.18 molmolar weightwater 2(1)16 g/molmolar weightwater 18 g/moldensitywater masswater/volumewatermasswater densitywater x volumewatermasswater 0.987 g/mL x 800 mLmasswater 789.6 gmoleswater 789.6 g x 1 mol/18 gmoleswater 43.87 molÃŽ §solution nwater/(nwater nsolute)ÃŽ §solution 43.87/(43.87 1.18)ÃŽ §solution 43.87/45.08ÃŽ §solution 0.97 ï » ¿Step 2 Find the vapor pressure of the solutionPsolution ÃŽ §solventP0solventPsolution 0.97 x 102.1 torrPsolution 99.0 torr ï » ¿Step 3 Find the change in vapor pressureChange in pressure is Pfinal - POChange 99.0 torr - 102.1 torrchange -3.1 torr Answer The vapor pressure of the water is reduced by 3.1 torr with the addition of the CuCl2.

The Deadly Choices at Memorial Essay Example | Topics and Well Written Essays - 1000 words

The Deadly Choices at Memorial - Essay Example owever, the hospital had to face various challenges in preserving a healthy environment being surrounded with motionless dozens of bodies and suffering from shortage of water and electricity. As a consequence, the temperature level increased to 100 degree inside the hospital. To save the affected people from high temperature, lethal doses of drugs were also injected to some patients (Klein, 2013). Owing to these hazards, mortuary workers had to carry 45 dead bodies from the Memorial. Few years after that incident, investigators pored over evidence and department of justice agents had detained the doctors and the nurses connected with deaths of four patients. Doctor Anna Pou, one of those convicts, used electronic media to prove herself innocent. To get over that mess, Anna Pou also used numerous steps and suggested new laws regarding the standard of medical care during emergencies (Klein, 2013). Hence, it can be identified that the incident of Hurricane Katrina has not only brought w idespread destructions with it, but it has also generated several questions regarding the morality and medical ethics of the professionals deployed in the hospital. The objective of this paper is thus to judge the practices of professionals engaged in providing support services in Memorial Medical Center during the event of Hurricane Katrina. The report revealing the death of four people during the event of Hurricane Katrina in Memorial Medical Center, due to the injection of lethal doses of drugs, along with other deaths in the hospital, is certainly throbbing. The actions of the various medical practitioners within the Memorial Medical Center in the then scenario have further been subjected to extensive criticism. Many of the experts have contended that the actions of the medical practitioners in the hospital were a mere effect of medical negligence and unethical conduct (Fink, 2009). Nevertheless, I firmly believe that it would be too early to describe the actions of the medical

Serial Killer Research Paper Example | Topics and Well Written Essays - 500 words - 1

Serial Killer - Research Paper Example There are many researches done on the psychology of serial killers by various researchers all over the world. It is amazing to note that causes of serial killing come forward more often in western societies as compared to eastern societies. There are two main ways to investigate about the psychology and thinking of serial killers. One is to study solved cases by police and experiences of investigating officers. Information provided on the basis of evidence and proper investigation gives a good way to do research on the topic of serial killers or serial killing. If opportunity is available one should try to meet/interview a serial killer. Thoughts of serial killers regarding sex, objectification and mutilation are important psychiatric points that can be analyzed during interview and whole research (TRUTV; Vaknin). Most of the serial killers think that to kill and to be got killed is one of the basic instincts that a human has. Early found skull of humans had traces of being attacked by some weapon. According to them, if chance available every person would kill someone. Serial killers are often regarded as people who believe that killing is a part of ritual and considered as objectifiers. Objectifiers are the people who treat other people as their subjects, most of the rulers, leaders political or military are often regarded as people that have fallen in the category of objectifiers (Vaknin). Difference between simple murders and serial killers can be explained by a known fact. A simple murderer kills due to some needs like sex, property, conflict that exists between him/her and other people. On the other hand the people called as serial killers are driven by continuous urge that is present in them from birth. Eric Hicky concluded in his research that about forty eight percent of the serial killers available to him as subjects were refused by their parents as children. Most of the serial killers live in their own world of fantasy

My personal capital Essay Example | Topics and Well Written Essays - 1000 words

My personal capital - Essay Example What exactly will be the nature of business under the plan for my group? As a business consultant and empanelled with local chapter of chamber of commerce, I will seek to organize a seminar on emerging businesses that involve local as well as international venturing. Technical experts from various fields will be invited to take part in the workshop and discussions forming part of this seminar. Ideas about new products and services on the horizon will get exchanged; and after attaining details about two or three alternative ventures from these workshop and discussion forum the matter will be deliberated at the group level in order to take a final decision about the venture to be pursued. Next step will involve utilization of my capabilities in deciding the type of business entity to be established for the business. Do we need to incorporate our business or form a partnership is a crucial decision to be taken? The fact is that ‘the nature of your business is one of the factors th at must be evaluated in determining the best business entity for your business.’(Sherri K. DeWitt) . Though corporation provides certain protection from liabilities to shareholders, but partnerships have certain advantages as well. Partnership can be a general partnership or limited liability partnership. Then there is another alternative in shape of LLC. So the decision about incorporating the business or not is a crucial one; and my experience and capabilities intuit me to suggest corporation status as the business should always be of permanent nature and not depending upon the vagaries of ownership.

Deception Is An Important Theme English Literature Essay

Deception Is An Important Theme English Literature Essay Sometimes deception can be unintended when the characters dont mean to lie, as in the play by Anton Chekhov, however in Henrik Ibsens play, the deceiver lies intentionally to protect the one she loves. The initial act of deception is shown when Nora deceives her husband and borrows money from Krogstad to save Torvalds life. She then continues lying to him intending to repay back the loan. Nora thinks it her duty to lie in order to protect her husband however this makes her vulnerable as a heroine to Krogstad who now blackmails her. This is an example of a dramatic irony since the readers and most of the characters except for Torvald, know what Nora has really done. Unlike her, Ranevsky, the main heroine of the Cherry Orchard doesnt deceive others but herself. Self- deception is a process of denying logical arguments and clear evidence. Here the themes of changing times and inability to accept change are explored. Madame Ranevsky wants to seek refuge in her childhood past from the despair of her present life, to remember the past and forget the present by refusing to face the reality. After spending five years abroad, she comes back to her beloved home. However she starts crying at the sight of [Her] nursery, [her] dear, beautiful nursery! she feels like a little girl. The nursery is a misnomer and it introduces a very nostalgic atmosphere, which brings up terrible memories of the death of Madames son, which she can not handle. She left Russia for Paris, to forget the memories of her husbands and sons deaths in the first place. When the time comes to auction the cherry orchard, Madam Ranevsky does not want to understand the seriousness of the situation. She does not believe that she can lose the orchard because of the luxury she used to live in, allowing herself everything and now she can not and does not want to accept the fact that she has to change that. The heroine realizes that she has lead a wrong lifestyle, she sinned and overspent, however she does not do anything to change that. She believes that everything will resolve itself. In a similar way, Nora believes that her act of deception was done for the greater good, since she was motivated by her husbands illness and had to save him and so she does not try to avoid any more lies and falsifications. As a matter of fact, she keeps deceiving Torvald, on small things such as eating macaroons and tiptoeing to listen at his door, because she feels the need to conceal the truth from her husband to save their marriage and this is the main source of the plot movement. Torvald in return deceives Nora by making her believe he loves her, he even says Do you know Nora, often I wish some terrible danger would threaten you, so that I could offer my life and my blood, everything for your sake. In reality he prioritizes his reputation before her and just regards her as his property. He only fantasizes about how perfect their life is, which is another example of self-deception. Its clear that their entire relationship is built upon lies and deception. Nora encourages her children to lie to Torvald when she says Dont talk to anyone about the strange gentleman. You hear? Not even to Daddy. By doing that she sacrifices her childrens innocence. Like Torvald, Madam Ranevsky tends to build a fence around herself by ignoring her emotions to create a happy world for herself. When she comes back home, she is restless, she says I cant sit still! I cant do it! [Jumping up and walking about in great agitation.] This happiness is more than I can bear. Laugh at me! I am a fool! My darling old cupboard! [Caressing a table.] My dear little table! . This makes her character ridiculous and from her kissing the bookcases and her reaction over her acquaintances deaths, we understand that she cannot handle anything real. As mentioned before, France was a place of refuge for Madame Ranevsky when she needed to escape and now that one of the most difficult stages of her life is over she does not seem to appreciate Paris. Once she is back to Russia she tries to forget her life there because her lover cheated on her and she is broke. Although later on she escapes from Paris to Russia. When she receives two telegrams from there she immediately tears them up without reading, and says They are from Paris. Ive done with Paris. However when she comes back to Russia, we see that she still hasnt forgotten her past in Paris, her unfaithful lover and the death of her child. Later on in the play, when she talks to Gayef she suddenly exclaims Look! Theres mamma walking in the orchardà ¢Ã¢â€š ¬Ã‚ ¦ in a white frock. There she is! One of the things about Madame Ranevsky hallucinating shows how disconnected she is from reality. Also, the composition and bearing of the hallucination reveal the nature of her disconnect ion. She seeks refuge in her past, her innocent childhood, and for her, the orchard is a symbol of her past- the fact that she fantasizes her mother in the orchard shows how disconnected she is from reality, confirming what she seeks. In a Dolls House, hope for freedom and independence motivates Nora to keep on lying and deceiving since we always tend to crave whatever we cant get. However she isnt the only character who lies and goes behind the back of her loved ones. Dr. Rank who is a family friend hides his true feelings for Nora from both Torvald and his wife. The only reason Nora actually finds out about how he truly feels, is when she tries to seek his help and she manages to see beneath the surface to his heart. This is how she finds out that he is secretly in love with her. On the other hand Dr. Rank seems to be very considerate and the only reason he deceives both his friends is because he tries to be a faithful friend to Torvald. He is trying really hard to be loyal but at the same time he can not stay away from Nora. Also he manages to expose Noras emotional immaturity and unwillingness to violate social conventions. Thus we cant be sure of whether his deception is intentional or not. Torvald, although it seems like he was the one deceived by both his wife and his friend, can be considered the one most guilty of the crime. Throughout the whole play, we see how he has deceived Nora into believing that their marriage is perfect, whilst in reality it was just his fantasy. The most important thing for him was to be able to keep up a proper appearance of moderation and appropriateness because the society he was brought up in is very judgmental and prejudicial. Like Ibsen, Chekhov presents a character who is also very concerned with looks and appearances. Lopakhin, an ex-peasant who is now a wealthy neighbor talks to the maid-servant, Dunyasha. Although he revels in his own economic situation, at the same time, he chides Dunyasha, by saying You are too refined, Dunyasha, thats what it is. You dress yourself like a young lady, and look at your hair! You ought not to do it, you ought to remember your place. He says that she is still of a low social standing. He is chiding her and telling her not to act like a lady, reminding her she is only the maid. This scene causes tension since there is this dichotomy as he is not quite comfortable with the new changes since he himself came from a peasant background. He almost contradicts what he is saying, which is another apparent example of self-deception. In conclusion, we see that deception is an important theme since its the main cause for characters to lose sense of reality and its also a catalyst of the climax. In the end of A Dolls House, Nora finally becomes more aware of how blind she was and walks out on her family to seek freedom and independence. Torvald on the other hand even at the end of the play, is still devoted to a mirage, an image of something that was never really there. At the end of The Cherry Orchard, Madame Ranevsky loses all her possessions together with the orchard and goes back to Paris, leaving behind everything that she thought she believed in. From this we learn, that deception is often triggered by the acceptance or disapproval of other people in society, since we tend to care too much about what everybody else thinks and thus try to blend in.