Are Eating Disorders Really About Food free essay sample

The following essay examines the etiology of eating disorders focusing on the psychological and social causes. This paper discusses eating disorders such as Anorexia Nervosa and Bulimia, looking at the death rate as well as the characteristics of the disease. Cultural, social and medical factors are discussed. as well as psychological solutions to eating disorders. From the paper: While some of us are capable of scorning this distorted view, others often fall prey and suffer a multitude of problems associated with the means governed towards the perfect body. Instances of Anorexia and Bulimia have now reached an alarming rate and while society is not fully to blame, one must attempt to understand the very root of the problem before attempting to come up with answers.

Halloween Word Play You Should Be Frightened...

Halloween Word Play You Should Be Frightened... Halloween always makes me think of my Yale College days and the clever costumes my classmates would devise. My favorite was a couple who dressed as â€Å"Paradise Lost.† They each donned a boxy six-sided die and walked around holding a map. Yes, they were a â€Å"pair of dice, lost.† Over the weekend, at one of the workshops I take at Wright, I overheard a conversation between two women in the ladies room about their plans for the evening. One of them mentioned that she was going to a jack-o-lantern making party; the other lamented that she would probably not be able to attend a family event that night because of other commitments, but that she would try to carve out the time to go. â€Å"Looks like both of you will be carving something!† I observed. Wordplay is a big part of my life. I’m often the person to notice puns when they weren’t intended. Halloween is not required. In a conversation with one of my subcontracting resume writers, we were discussing my preference for keeping the word â€Å"I† out of resumes. Without realizing what he was saying, he blurted, â€Å"I’ll keep an eye out for that!† â€Å"No pun intended,† I responded. (Indeed, I was recommending that he keep an â€Å"I† out!) While any time is a great time for a good pun or wordplay in my book, Halloween provides the perfect opportunity to experiment with visual representation. For instance, what costume would you wear if you were dressing as a â€Å"Cereal Killer†? How about â€Å"Iron Maiden†? A â€Å"French Kiss†? A â€Å"Black-Eyed P†? â€Å"Blessing in Disguise†? Or perhaps you’d like to be a â€Å"Dust Bunny† or a â€Å"Chocolate Moose†? See the Deviled Egg to the right. The possibilities are endless and although some Halloween parties have already happened, perhaps I’ve given you sufficient lead time to devise a creative costume if you’ve been wanting to break out of the standard witch or ghost costume this year. I personally am dressing this year as â€Å"Facing Your Fears.† I will dress in black and most likely carry around a furry black and orange spider. I will carry a rearview mirror on which anyone willing to participate can write one of their fears in orange lipstick. They will then be able to face their fears in the rearview mirror. What will your costume be this Halloween? Do you have ideas of ways to dress for any of the suggestions above? What’s your favorite Halloween pun? Please share! Category:Life and LeadershipBy Brenda BernsteinOctober 28, 2013 3 Comments Kent V says: October 29, 2013 at 7:03 am Oh, those brainy top tier college kids. I remember a woman PhD candidate in chemistry at a Halloween party at my ivy league grad school who had a full sized beach ball tucked into the front of her slacks. She let it slip out occasionally to reveal a ball with a big + sign on it. She described herself as a parent ion- a large atomic fragment missing an electron that is common to some destructive analysis techniques. As a former chemistry major I more or less got it, but anyone else Ya really had to be there in her world. 🙠 I suspect the Essay Expert would agree that context is everything. Log in to Reply The Essay Expert says: October 29, 2013 at 8:03 am Love it! Indeed, context is everything. I will be wearing my facing your fears costume to a conceptual costume Halloween party where it will be appreciated, I hope. Log in to Reply Johanna says: October 29, 2013 at 8:59 am In college, a friend and I carried thin canes, wore sunglasses, sold pencils from a cup, and spoke Italian. We were Venetian Blinds. Log in to Reply

Explanatory Essay Example | Topics and Well Written Essays - 750 words

Explanatory - Essay Example The game of volleyball has a history of more than 119 years as the game was first developed during the period of 1895 by an individual named William G. Morgan who is an American (Zartman 2). The game was developed in order to substitute the game for the sport of basketball; as basketball was considered as a more violent game. Furthermore, basketball was considered physically harmful for the middle aged individuals who were members with the YMCA. The game has altered from what it was like when it was first developed. The first development was the introduction of a new ball, especially designed for the game during the year of 1900 (Zartman 4). Six years later, the game started becoming offensive in nature with the introduction of the set and spike method of transferring the ball from one end of the court to the other end was developed (Zartman 34). From this period onwards, several changes to the game were made and to regulate these changes the formation of the United States Volleyball Association took place during the period of 1928 and since then the game started becoming popular amongst the masses (Zartman 1992). After a period of 36 years, the game became so widely played that it was made part of the Olympics that took place in Tokyo (Zartman 188). The inclusion of the game in Olympics and the creation of regulatory body are signs that depict that the game is internationally recognized and has become quite common amongst the masses. The game of volleyball is quite difficult game to understand and play. It has several rules that help in achieving victory. The main rule in the game is that each team is only allowed to touch the ball three times when the ball is in their side of the court (Fivb.org 1). The members of the team can pass the ball with an underpass that is conducted with the help of the forearms or they can

Monetary Policy in an economy Essay Example | Topics and Well Written Essays - 2000 words

Monetary Policy in an economy - Essay Example However, the effectiveness of monetary in controlling the economy is real terms remains to be a debatable issue. If Central bank attempts to control economy by implementing monetary policy through varying interest rates, it can have some indirect impacts on the overall economic activities that might lead to problems. This paper illuminates the theoretical foundations upon which the monetary policy rests. It discusses the various methods utilised to determine and implement the monetary policy in an economy on the part of Central banks. The paper also elaborates the effectiveness of monetary policy in controlling economy and critically discusses its effectuality in meeting the intended economic ends such as controlling inflation and maintaining price stability. Developing and implementing monetary policy happens to be the most crucial responsibility of a Central Bank. Monetary policy refers to the strategies of Central Banks implemented for the purpose of controlling various economic factors such as inflation and employment etc. Bofinger, Schchter and Reischle propound that "the main aim of monetary policy is a control of final targets of the economic process (price stability, real growth, full employment), which have been set in such a way as to maximise the ultimate goal of social welfare."1 Theoretically, there are four equations that are used to evaluate the impact of money or monetary policy on the overall economy. The aggregate demand function emphasises the impact of total demand on interest rates which consequently affects inflation. The 'Philip-Lucas supply curve' or the supply function relates the total output in an economy to the rate of inflation. The third equation relates the demand of money in an economy to total expenditure as well as the interest rates. The fourth equation of monetary policy relates it to the supply of money in the economy on the part of Central Bank.2 The theoretical foundations of monetary policy rest on the fact that money plays a great role in the economy of a country. Therefore, various economic factors, in particular, the inflation rate and employment level can be controlled by an effective monetary policy. King also propounds that "money growth is higher, the higher is the inflation rate".3 The growth of money or credit in an economy goes a long way in determining the prevailing inflation rate and employment level in the long run. Monetary policy helps Central banks to achieve the goal of economic stability and inflationary targets. Mahadeva says that "Central banks have always been in the forefront of those that promote low inflation or price stability as a or the goal of monetary policy."4 It is because of the fact that controlling inflation or maintaining a desired level of prices is considered to be the important functions of monetary policy and crucial aims of a Central bank. Central banks influence the supply and growth of money in the economy by changing interest rates in order to affect the aggregate demand. Arestis and Sawyer delineate the rate of interest as, "the Central Bank rate can be viewed as the key rate on which all other interest rates are based-often explicitly so as in the case of the interest rates charged by banks on loans and paid by banks on deposits" (2004, p443). Hence the Central bank influences the supply of mon

Innocent Drinks Case Study Example | Topics and Well Written Essays - 750 words

Innocent Drinks - Case Study Example They had a never give up attitude which helped them to not feel low as soon as they hit an unwanted hindrance during the course of the setting up of their company, right from getting manufacturers to thinking of innovation in the field of providing fresh juices to their customers. Thus, these aspects helped the company to grow, develop and reach success. Expansion and diversification is always the key aspects of helping any enterprise to grow and develop and reach new heights in terms of revenue and sales. Thus, expansion of Innocent Drinks into Europe and U.S seems to be an excellent idea for the company. However, according to the facts presented, except for France, Netherlands and Belgium, the rest of Europe was not helping the company meet a wider range of success. In other countries like Italy, Germany, Sweden and Denmark, the company was not really doing well because of a number of reasons with respect to the beverage. The main reason was that these juices had a longer shelf lif e in these countries; however, these countries already had an established smoothie base, which meant that Innocent Drinks had to beat out a lot of competition in order to set itself or stabilise itself in the region. This was proving to be very difficult for the company, and was leading to marginal or no profit at all, and thus, it is a step that could have been avoided. Instead of France, Netherlands and Belgium, the company should stop selling to the rest of Europe because of negligible returns. The U.S on the other hand, was a much safer and stronger option to expand into, for the company. This was because smoothies as a product were already quite well known and received in the market by the people; thus there was no problem in the demand. For the supply as well, the founders went ahead and established contacts with some leading manufacturers and suppliers in order to set up shop. However, the only problem was beating the tough competition that already persisted in the smoothie m arket. In keeping with the introduction of new combinations of products under the Innocent brand, into different countries and continents, a very bold move was made by the company. Despite the bottlenecks in the business, in my opinion, the company should go ahead with producing and selling ice creams and other such dairy related products in the US and Europe, because both these areas have a high acceptance of such products, and the company can begin by banking on its already established brand name for help. At the time of the case, the company could be valued for a sum of 3 million lira pounds according to a personal opinion, in keeping with the figures that have been presented in the facts. However, despite this, the company should not consider a purchase offer at such a crucial time because this is the main span of its phase of growth and development. This is the time when the company can acquire more and more of the market share and set up a better consumer base. This is also th e time of proper growth and expansion, not to forget penetration into the market. Thus, if the company lost that value of having to grow and develop on their own, and considered a purchase offer at such an early stage, then it would lose its momentum eventually and finally, its value as well. One of the main complications faced by the founders was of whether or not to alter the management structure within the business. According to a pers

Indias Financial Markets

Indias Financial Markets As all the Financial Markets in India together form the Indian Financial Markets, all the Financial Markets of Asia together form the Asian Financial Markets; likewise all the Financial Markets of all the countries of the world together form the Global Financial Markets. Financial Markets deal with trading (buying and selling) of financial securities (stocks and bonds), commodities (valuable metals or food grains), and other exchangeable and valuable items at minimum transaction costs and market efficient prices. Financial Markets can be domestic or international. The Global Financial Markets work as a significant instrument for improved liquidity. Financial Markets can be categorized into six types: Capital Markets: Stock markets and Bond markets Commodity Markets Money Markets Derivatives Markets: Futures Markets Insurance Markets Foreign Exchange Markets The Financial Markets play a major role in the Global Economy because it helps businesses to raise capital (in capital markets), they facilitate transferring of risk (in derivative markets), and they help international trade (in currency markets) to prosper. The International Stock Markets form a major part of the Global Financial Markets. The Amsterdam Stock Exchange is the oldest stock exchange, which started operating in continuous trade in the earlier part of the 17th Century. Some of the Important Stock Exchanges of the world are: The New York Stock Exchange (merged with Euro next): The New York Stock Exchange (NYSE) is a stock exchange based in New York City, USA that was incorporated in 1817. In terms of dollar volume, it is the largest stock exchange in the world, and in terms of the number of companies listed it is the second largest stock exchange in the world. The NYSE is also known as the Big Board. The indexes used in the NYSE are the NYSE Composite Index and the Dow Jones Industrial Average Index. The NYSE functions under NYSE Euro next, the formation of which was the result of NYSEs merger with Archipelago Holdings and Euro next. Tokyo Stock Exchange: The Tokyo Stock Exchange (TSE), incorporated in 1949, is located in Tokyo, Japan. In terms of monetary volume, The Tokyo Stock Exchange is the second largest stock exchange in the world, only next to New York Stock Exchange. The indexes used in the TSE are Nikkei 225, Topix, and J30. NASDAQ: The National Association of Securities Dealers Automated Quotations, or NASDAQ, is an electronic stock market based in New York City, USA that was incorporated in 1971. The NASDAQ Stock Market, Inc. is the owner and regulator of NASDAQ. The main index used in NASDAQ is the NASDAQ Composite. London Stock Exchange: Established in 1801, the London Stock Exchange (LSE) is one of the oldest and largest stock exchanges in the world. In terms of market capitalization, the London Stock Exchange was ranked 4th among all the other important stock exchanges in the world in March 2007. The London Stock Exchange is located in Paternoster Square near St. Pauls Cathedral, London. The stock market index of London Stock Exchange is the Footsie (FTSE). Euro next (merged with NYSE): Founded in 2000, Euro next N.V. is a pan-European Stock Exchange, which is based in Paris. In terms of market capitalization, Euro next ranks as the fifth largest stock exchange in the world. There was a merger of Euro next with the NYSE Group, which led to the formation of NYSE Euro next and it is the first global stock exchange. The main indexes used in Euro next are the Euro next 100 Index and the Next 150 Index. The Bombay Stock Exchange (BSE): Located in Mumbai, India and founded in 1875, the Bombay Stock Exchange is the oldest stock exchange of Asia. The main index of BSE is called the BSE Sensex (Sensitive Index) or the BSE 30. In terms of volume of transactions, the BSE was ranked as one of the top five stock exchanges in the world in 2005. Some terms that are used in the Global Financial Markets are: Geek, a Quant Grim Nerd, a Quant Quant Big Swinging Dick Rocket Scientist White Knight Today equity research has become a specialized activity, although confined to a very small segment of the market. It would be a little early to consider equity research as an independent business segment, but at the same time it must be appreciated that the value of equity research is being felt by the market. This is an interesting stage in the growth and development of equity research, especially in a situation where the traditional individual investor is unwilling to pay for vital stock related information while the institutional investor is already paying for research reports. The phenomenal growth of the financial markets over the last quarter of a century has meant that the very character of investment has changed with ever larger scales of market capitalization. The emergence of the Fund Manager as a new value addition in investment related financial services is actually a part of the growth and development of the institutional investor. The fund managers sole objective is to ensure maximum returns for his clients whose money he invests working in tandem with research inputs. The fund manager and his client are a vital part of the institutional investment process sustained by an advanced and research driven approach to capital market investment. Equity research still has some time to develop as a sustainable business model, but like any other research activity it has its limitations in developing into a booming business. Institutional investors are willing to pay ever higher amounts for in-depth and precise research in accordance with their requirements. Some of the modes of equity research are: Fundamental Analysis Technical Analysis Securities Market Analysis Index Momentum Analysis Securities Momentum Analysis Securities Chart Analysis India n Financial Market India Financial market is one of the oldest in the world and is considered to be the fastest growing and best among all the markets of the emerging economies. The history of Indian capital markets dates back 200 years toward the end of the 18th century when India was under the rule of the East India Company. The financial market in India today is more developed than many other sectors because it was organized long before with the securities exchanges of Mumbai, Ahmadabad and Kolkata were established as early as the 19th century. By the early 1960s the total number of securities exchanges in India rose to eight, including Mumbai, Ahmadabad and Kolkata apart from Madras, Kanpur, Delhi, Bangalore and Pune. Today there are 21 regional securities exchanges in India in addition to the centralized NSE (National Stock Exchange) and OTCEI (Over the Counter Exchange of India). The corporate sector wasnt allowed into many industry segments, which were dominated by the state controlled public se ctor resulting in stagnation of the economy right up to the early 1990s. Thereafter when the Indian economy began liberalizing and the controls began to be dismantled or eased out, the securities markets witnessed a flurry of IPOs that were launched. This resulted in many new companies across different industry segments to come up with newer products and services. A remarkable feature of the growth of the Indian economy in recent years has been the role played by its securities markets in assisting and fuelling that growth with money rose within the economy. This was in marked contrast to the initial phase of growth in many of the fast growing economies of East Asia that witnessed huge doses of FDI (Foreign Direct Investment) spurring growth in their initial days of market decontrol. During this phase in India much of the organized sector has been affected by high growth as the financial markets played an all-inclusive role in sustaining financial resource mobilization. Many PSUs (Public Sector Undertakings) that decided to offload part of their equity were also helped by the well-organized securities market in India. The launch of the NSE (National Stock Exchange) and the OTCEI (Over the Counter Exchange of India) during the mid 1990s by the government of India was meant to usher in an easier and more transparent form of trading in securities . The NSE was conceived as the market for trading in the securities of companies from the large-scale sector and the OTCEI for those from the small-scale sector. While the NSE has not just done well to grow and evolve into the virtual backbone of capital markets in India the OTCEI struggled and is yet to show any sign of growth and development. The integration of IT into the capital market infrastructure has been particularly smooth in India due to the countrys world class IT industry. This has pushed up the operational efficiency of the Indian stock market to global standards and as a result the country has been able to capitalize on its high growth and attract foreign capital like never before. Potential of India Financial Market India Financial Market helps in promoting the savings of the economy helping to adopt an effective channel to transmit various financial policies. The Indian financial sector is well-developed, competitive, efficient and integrated to face all shocks. In the India financial market there are various types of financial products whose prices are determined by the numerous buyers and sellers in the market. The other determinant factor of the prices of the financial products is the market forces of demand and supply. The various other types of Indian markets help in the functioning of the wide India financial sector. Features OF FINANCIAL Market in India: India Financial Indices BSE 30 Index, various sector indexes, stock quotes, Sensex charts, bond prices, foreign exchange, Rupee Dollar Chart Indian Financial market news Stock News Bombay Stock Exchange, BSE Sensex 30 index, SP CNX-Nifty, company information, issues on market capitalization, corporate earnings statements Fixed Income Corporate Bond Prices, Corporate Debt details, Debt trading activities, Interest Rates, Money Market, Government Securities, Public Sector Debt, External Debt Service Foreign Investment Foreign Debt Database composed by BIS, IMF, OECD, World Bank, Investments in India Abroad Global Equity Indexes Dow Jones Global indexes, Morgan Stanley Equity Indexes Currency Indexes FX Gold Chart Plotter, J. P. Morgan Currency Indexes National and Global Market Relations Mutual Funds Insurance Loans Forex and Bullion Indian money market AS PER RBI DEFINITIONS A market for short terms financial assets that are close substitute for money, facilitates the exchange of money in primary and secondary market. Indian money market was highly regulated and was characterized by limited number of participants. The limited variety and instruments were available. Interest rate on the instruments was under the regulation of Reserve Bank of India. The sincere efforts for developing the money market were made when the financial sector reforms were started by the government. Money markets are the markets for short-term, highly liquid debt securities. Examples of these include bankers acceptances, repos, negotiable certificates of deposit, and Treasury Bills with maturity of one year or less and often 30 days or less. Money market securities are generally very safe investments, which return relatively; low interest rate that is most appropriate for temporary cash storage or short term time needs. The National Stock Exchange, where the stocks of the largest Indian. Corporations are traded, is a prime example of a capital primary market. Regarding timing, there is no hard and fast rule on this, but when describing debt markets, short term generally means less than one year, intermediate term means one to five years, and long term means more than five years. THE NATURE OF MONEY MARKETS In this we define money markets broadly to include all financial instruments easily converted to means of payment that are used by governments, financial institutions and nonfinancial institutions for short-term funding or placements. By convention, we limit our scope to instruments of less than one year maturity. The most important function of a money market is to provide a means whereby economic units can quickly adjust through cash positions. For all economic units (business, households financial institutions or governments) the timing of cash inflows is rarely perfectly synchronized or predictable in the short run. In addition to facilitating the liquidity management of economic actors, money markets fulfill a number of additional economic functions: Interest rates on money market instruments serve as reference rates for pricing all debt instruments; Governments or central banks use money market instruments as tools at monetary policy; Short-term interbank markets, finance longer-term lending when financial intermediaries transform maturities. Features of Money Market It is a market purely for short-terms funds or financial assets called near money. It deals with financial assets having a maturity period less than one year only. In Money Market transaction cannot take place formal like stock exchange, only through oral communication, relevant document and written communication transaction can be done. Transaction has to be conducted without the help of brokers. It is not a single homogeneous market, it comprises of several submarket like call money market, acceptance bill market. The components of Money Market are the commercial banks, acceptance houses NBFC (Non-banking financial companies). It is not a single market but a collection of markets for several instruments. It is a need-based market wherein the demand supply of money shape the market. Money market is basically over-the-phone market. Dealing in money market may be conductive with or without the help of brokers. It is a market for short-term financial assets that are close substitutes for money. Financial assets which can be converted into money with ease, speed, without loss with minimum transaction cost are regarded as close substitutes for money. The major players of money market Reserve Bank of India SBI DFHI Ltd (Amalgamation of Discount Finance House in India and SBI in 2004) Acceptance Houses Commercial Banks, Co-operative Banks and Primary Dealers are allowed to borrow and lend. Specified All-India Financial Institutions, Mutual Funds, and certain specified entities are allowed to access to Call/Notice money market only as lenders Individuals, firms, companies, corporate bodies, trusts and institutions can purchase the treasury bills, CPs and CDs. Money market instruments Money market instruments take care of the borrowers short-term needs and render the required liquidity to the lenders. The varied types of India money market instruments are treasury bills, repurchase agreements, commercial papers, certificate of deposit, and bankers acceptance. Treasury Bills (T-Bills) Treasury bills were first issued by the Indian government in 1917. Treasury bills are short-term financial instruments that are issued by the Central Bank of the country. It is one of the safest money market instruments as it is void of market risks, though the return on investments is not that huge. Treasury bills are circulated by the primary as well as the secondary markets. The maturity periods for treasury bills are respectively 3-month, 6-month and 1-year. The price with which treasury bills are issued comes separate from that of the face value, and the face value is achieved upon maturity. On maturity, one gets the interest on the buy value as well. To be specific, the buy value is determined by a bidding process, that too in auctions. Repurchase Agreements Repurchase agreements are also called repos. Repos are short-term loans that buyers and sellers agree upon for selling and repurchasing. Repo transactions are allowed only among RBI-approved securities like state and central government securities, T-bills, PSU bonds, FI bonds and corporate bonds. Repurchase agreements, on the other hand, are sold off by sellers, held back with a promise to purchase them back at a certain price and that too would happen on a specific date. The same is the procedure with that of the buyer, who purchases the securities and other instruments and promises to sell them back to the seller at the same time. Commercial Papers Commercial papers are usually known as promissory notes which are unsecured and are generally issued by companies and financial institutions, at a discounted rate from their face value. The fixed maturity for commercial papers is 1 to 270 days. The purposes with which they are issued are for financing of inventories, accounts receivables, and settling short-term liabilities or loans. The return on commercial papers is always higher than that of T-bills. Companies which have a strong credit rating, usually issue CPs as they are not backed by collateral securities. Corporations issue CPs for raising working capital and they participate in active trade in the secondary market. It was in 1990 that Commercial papers were first issued in the Indian money market. Certificate of Deposit A certificate of deposit is a borrowing note for the short-term just similar to that of a promissory note. The bearer of a certificate of deposit receives interest. The maturity date, fixed rate of interest and a fixed value are the three components of a certificate of deposit. The term is generally between 3 months to 5 years. The funds cannot be withdrawn instantaneously on demand, but has the facility of being liquidated, if a certain amount of penalty is paid. The risk associated with certificate of deposit is higher and so is the return (compared to T-bills). It was in 1989 that the certificate of deposit was first brought into the Indian money market. Bankers Acceptance A bankers acceptance is also a short-term investment plan that comes from a company or a firm backed by a guarantee from the bank. This guarantee states that the buyer will pay the seller at a future date. One who draws the bill should have a sound credit rating. 90 days is the usual term for these instruments. The term for these instruments can also vary between 30 and 180 days. It is used as time draft to finance imports, exports. It depends on the economic trends and market situation that RBI takes a step forward to ease out the disparities in the market. Whenever there is a liquidity crunch, the RBI opts either to reduce the Cash Reserve Ratio (CRR) or infuse more money in the economic system. In a recent initiative, for overcoming the liquidity crunch in the Indian money market, the RBI infused more than Rs 75,000 crore along with reductions in the CRR. Call money market The call money market consists of overnight money and money at short notice for periods up to 14 days. It essentially serves the purpose of equilibrating the short-term liquidity position of banks. The call money market as a significant component of the money market possesses a few special characteristics:- Call money is an instrument for ultra-short period management of funds and is easily reversible. It is primarily a telephone market and is therefore, administratively convenient to manage for both borrowers and lender. Being an instrument of liability management, it provides incremental funds and adds to the size of balance sheet of banks. From the macro-side, developed call money market helps to smoothen the fluctuations in the reserve-deposit rations of banks thereby contributing to the stability of the money-multiplier process. A stable money multiplier in turn serves as a reliable means of monetary regulation and policy guide. From the micro angle, short-run borrowing by banks improves the efficiency of funds management in two ways. One way, it enables banks to hold higher reserve-deposit ratio than would be possible otherwise. In another way, it allows some banks to permanently increase their pool of investible funds. Hence, active well-organized call money market improves the funds management practices of banks which in turn further their overall efficiency and profitability. The money market continued to remain orderly during Q2 of 2009-10. Reflecting the surplus liquidity conditions, the call rate hovered around the lower bound of the informal LAF corridor during the Q2 of 2009-10). The call rate averaged 3.25 per cent in Q2, which was marginally higher than 3.22 per cent in Q1.Interest rates in the collateralized segments of the money market the market repo and the collateralized borrowing and lending obligation moved in tandem with the call rate during Q2 but remained below the call rate. The weighted average interest rate in the collateralized segment of the money market marginally increased to 2.7 per cent during Q2 of 2009-10 from 2.4 per cent during Q1. Transaction volumes in CBLO and market repo segments continued to remain high during Q2 of 2009-10 reflecting the easy liquidity and active market conditions. Banks as a group are the major borrowers in the collateralized segment whereas mutual funds (MFs) continue to remain the single largest len der of funds in that segment. In fact, more than 75 per cent of the lending in the collateralized segment was contributed by the MFs in Q2, reflecting their continued enhanced lending capacity. The collateralized market remained the predominant segment of the money market, accounting for more than 80 per cent of the total volume in the money market in Q2. Source = http://www.rbi.org.in/scripts/BS_ViewBulletin.aspx?Id=10690#t56 Objective of call Money Market To provide a parking place to employ short term surplus funds. To provide room for overcoming short term deficits. To enable the central bank to influence and regulate liquidity in the economy through its intervention in this market. To provide a reasonable access to users of short-term funds to meet their requirement quickly, adequately at reasonable cost. Importance of call Money Market Development of trade industry. Development of capital market. Smooth functioning of commercial banks. Effective central bank control. Formulation of suitable monetary policy. Non inflationary source of finance to government. To provide help to the industry and trade. Some practical aspect of call money market v Number of Participants in Call/Notice Money Market:- (As on March 31, 2008) Category Bank PD FI MF Corporate Total I. Borrower 154 15 169 II. Lender 154 15 20 35 50 274 v Market Shares of Constituents in Call/Notice Money Market (In Percent) Borrowings Lendings Year Banks PDs Banks PDs Others 2007 68 32 52 11 37 2008 66 34 45 11 44 v Shares of Select Participants in Call Money Market: Lending (In Percent) Year Banks FIs Total 2007 20 18 38 (15) 2008 17 14 31 (13) Banks: Canara Bank, Central Bank, PNB and SBI FIs: ICICI, IDBI, LIC, SIDBI and UTI. Parenthetic figures relate to those of the SBI. v Shares of Select Banks in Call Money Market: Borrowings (In Percent) Year Banks 2007 36 2008 39 Select banks include ABN-AMRO Bank, Centurion Bank, Citi Bank, Deutsche Bank; Grind lays Bank, HDFC Bank, Hongkong Bank, IDBI Bank and Standard Chartered Bank. Some guidelines regarding call money market by r.b.i It may be recalled that in the annual policy Statement of April 2008, the intention to move towards a pure inter-bank call/notice money market by gradually phasing out non-bank participation was highlighted. Accordingly, in stage I, non-bank participants are allowed to lend, on average in a reporting fortnight, up to 85 per cent of their average daily lending during 2007-08. Subsequently, in the annual policy Statement of April 2008, it was stated that RBI would announce the date of effectiveness of stage II, wherein non-bank participants would be allowed to lend, on average in a reporting fortnight, up to 75 per cent of their average daily lending in call/notice market during 2007-08, depending on the date when NDS/CCIL becomes fully operational. In view of the encouraging developments in the functioning of NDS/CCIL, it is desirable to accelerate the progress of moving towards a pure inter-bank call/notice money market and facilitate further deepening of repo/term money market. Accordingly, it has been decided that effective from the fortnight beginning June 14, 2007, under stage II, non-bank participants would be allowed to lend, on average in a reporting fortnight, up to 75 per cent of their average daily lending in call/notice money market during 2007-08. However, in case a particular non-bank institution has genuine difficulty in deploying its excess liquidity, RBI may consider providing temporary permission to lend a higher amount in call/notice money market for a specific period on a case by case basis. To facilitate monitoring of your operations in call/notice money market on a daily basis, you are requested to continue to submit the daily return in time to the Principal Monetary Policy Adviser, MPD, RBI as per the extant practice. Current market rate = 2.10% 3.30% Commercial Bill market Bills of exchange are negotiable instruments, drawn by the seller (drawer) of the goods on the buyer (drawee) of the goods for the value of the goods delivered. These bills are known as trade bills. Trade bills are called commercial bills when they are accepted by commercial banks. If the bill is payable at a future date and the seller needs money during the currency of the bill, he may approach his bank to discount the bill. The maturity proceeds or face value of a discounted bill from the drawee is received by the bank. If the bank needs funds during the currency of bill, it can rediscount the bill that has been already discounted by it in the commercial bill rediscount market at the available market discount rate. The RBI introduced the Bills Market scheme (BMS) in 1952 and the scheme was later modified into the New Bills Market Scheme (NBMS) in 1970. Under the scheme, commercial banks can rediscount the bills, which were originally discounted by them, with approved institutions. With the intention of reducing paper movements and in a bid to facilitate multiple rediscounting, the RBI introduced an instrument called Derivative Usance Promissory Notes (DUPN). Consequently, the need for the physical transfer of bills has been waived and the bank that originally discounts the bills only draws DUPN. These DUPNs are sold to investors in convenient lots of maturities (from 15 days up to 90 days) on the basis of genuine trade bills, discounted by the discounting bank. Commercial bill is a short term, negotiable, and self-liquidating instrument with low risk. It enhances he liability to make payment in a fixed date when goods are bought on credit. According to the Indian Negotiable Instruments Act, 1881, bill or exchange is a written instrument containing an unconditional order, signed by the maker, directing to pay a certain amount of money only to a particular person, or to the bearer of the instrument. Bills of exchange are negotiable instruments drawn by the seller (drawer) on the buyer (drawee) or the value of the goods delivered to him. Such bills are called trade bills. When trade bills are accepted by commercial banks, they are called commercial bills. The bank discounts this bill by keeping a certain margin and credits the proceeds. Banks, when in need of money, can also get such bills rediscounted by financial institutions such as LIC, UTI, GIC, ICICI and IRBI. The maturity period of the bills varies from 30 days, 60 days or 90 days, depe nding on the credit extended in the industry. Characteristics of Commercial bill Securities offered to the public must be registered with the Securities and Exchange Commission according to the Securities Act of 1933. Registration requires extensive public disclosure, including issuing a prospectus on the offering. It is a time-consuming and expensive process. Most commercial paper is issued under Section 3(a) (3) of the 1933 Act which exempts from registration requirements short-term securities as long as they have certain characteristics. Commercial paper is typically a discount security (like Treasury bills): the investor purchases notes at less than face value and receives the face value at maturity. The difference between the purchase price and the face value, called the discount, is the interest received on the investment. Commercial paper is, occasionally, issued as an interest-bearing note (by request of investors). The investor pays the face value and, at maturity, receives the face value and accrued interest. All commercial paper interest rates are quoted on a discount basis. The exemption requirements have been a factor shaping the characteristics of the commercial paper market. The following are requirements for exemption: The maturity of commercial paper must be less than 270 days. In practice, most commercial paper has a maturity of between 5 and 45 days, with 30-35 days being the average maturity. Many issuers continuously roll over their commercial paper, financing a more-or-less constant amount of their assets using commercial paper. The nine-month maturity limit is not violated by the continuous rollover of notes, as long as the rollover is not automatic but is at the discretion of the issuer and the dealer. Many issuers will adjust the maturity of commercial paper to suit the requirements of an investor. That proceeds from commercial paper issues be used to finance current transactions, which include the funding of operating expenses and the funding of current assets such as receivables and inventories. Proceeds cannot be used to finance fixed assets, such as plant and equipment, on a permanent basis. A safekeeping agent hired by the investor held the certificates, until presented for payment at maturity. The settling of the transaction, (the exchange of funds for commercial paper first at issuance and then at redemption, occur in one day. On the day the commercial paper is issued and sold, the investor receives and pays for the notes and the issuer receives the proceeds. On the day of maturity, the investor presents the notes and receives payment. Commercial banks, in their role as issuing, paying, and clearing agents, facilitate the settling of commercial paper by carrying out the exchanges between issuer, investor, and dealer required to transfer commercial paper for funds. Types of Commercial Bills: Commercial bill is an important tool finance credit sales. It may be a demand bill or a usance bill. A demand bill is payable on demand, that is immediately at sight or on presentation by the drawee. A usance bill is payable after a specified time. If the seller wishes to give sometime for payment, the bill would be payable at a future date. These bills can either be clean bil

Essay --

Ben Franklin himself said, "They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety." There are two subjects essential to this warning, the oppressive overbearing authority and the people who are willing to sacrifice their liberty for security. There are for possible outcomes with these two subjects: 1. The people of the nation have an attitude that does not allow a domineering government, thus out of fear no domineering government arises. 2. The people of the nation have an attitude that does not allow a domineering government, nevertheless a domineering government arises under radar. 3. The people of the nation have an attitude that allows themselves to be dominated, thus a domineering government arises. 4. The people of the nation have an attitude that allows themselves to be dominated, a domineering government however does not arise. Opportunity is a time or set of circumstances that allows for a possible action to occur. Given the opportunity, a domineering government will arise History will repeat itself, it has time and time again. Utopia is virtually impossible by its very definition as applied to the philosophy of today. The inevitable outcome of all organized systems is thus the enslavement of the human majority and the eventual revolution of a new system. Thus outcomes number two and three are most likely to happen eventually. The question remaining is thus, how can a nation prevent a domineering government for the longest time? This is outcome number one comes into play; a democratic system is by its very design meant to prevent a domineering government from arising. Outcome number four is the most unlikely to happen becau... ...ew act and lead it down a path it was never meant to go. The people of the United States are now more than ever willing to sacrifice their liberty for security. Dependency on government leads to a loss of personal liberty. The government should seek to make the people more independent and less reliant on social welfare programs. The fact that we see more dependent people now than ever before is a sure sign that U.S. citizens are sacrificing their liberties for security and comfort. We are not necessarily meant to live a comfortable lifestyle. Such a life would chock the freedom's that make hero's out of men. We need to separate the definition of peace and the definition of comfort as it applies to a people's own independence. The attitudes of the people who will allow themselves to be dominated is by far worse than a domineering government. Essay -- Ben Franklin himself said, "They that can give up essential liberty to obtain a little temporary safety deserve neither liberty nor safety." There are two subjects essential to this warning, the oppressive overbearing authority and the people who are willing to sacrifice their liberty for security. There are for possible outcomes with these two subjects: 1. The people of the nation have an attitude that does not allow a domineering government, thus out of fear no domineering government arises. 2. The people of the nation have an attitude that does not allow a domineering government, nevertheless a domineering government arises under radar. 3. The people of the nation have an attitude that allows themselves to be dominated, thus a domineering government arises. 4. The people of the nation have an attitude that allows themselves to be dominated, a domineering government however does not arise. Opportunity is a time or set of circumstances that allows for a possible action to occur. Given the opportunity, a domineering government will arise History will repeat itself, it has time and time again. Utopia is virtually impossible by its very definition as applied to the philosophy of today. The inevitable outcome of all organized systems is thus the enslavement of the human majority and the eventual revolution of a new system. Thus outcomes number two and three are most likely to happen eventually. The question remaining is thus, how can a nation prevent a domineering government for the longest time? This is outcome number one comes into play; a democratic system is by its very design meant to prevent a domineering government from arising. Outcome number four is the most unlikely to happen becau... ...ew act and lead it down a path it was never meant to go. The people of the United States are now more than ever willing to sacrifice their liberty for security. Dependency on government leads to a loss of personal liberty. The government should seek to make the people more independent and less reliant on social welfare programs. The fact that we see more dependent people now than ever before is a sure sign that U.S. citizens are sacrificing their liberties for security and comfort. We are not necessarily meant to live a comfortable lifestyle. Such a life would chock the freedom's that make hero's out of men. We need to separate the definition of peace and the definition of comfort as it applies to a people's own independence. The attitudes of the people who will allow themselves to be dominated is by far worse than a domineering government.