The Influence and Role of Current U.S. Foreign Policy in Modern Italy E

The Influence and Role of Current U.S. Foreign Policy in Modern Italy Since the beginning of the European Union, Europe has attempted to move forward as one unit in order to compete with the United States and to be a strong force around the globe. In a statement made by the Washington ambassadors of the present and acceding members to the European Union in May 2004, they stated, Europe now, for the first time in modern history, is a partnership sharing common values and a commitment to harmony and cooperation. The dream of European integration, shared by the United States, is now being realized, leaving behind us the wasteful era of wars, hostility, and inequalities. We are on the road to a Europe enjoying a unity and influence without precedent in its long history. (http://www.italyemb.org/JointEditorial.htm). Italy was one of the founding members of the European Union, which began in 1950, and any policies that are made by the United States that affects the European Union affects Italy as well. Many of the policies that are made by the United States have far reaching effects in many countries involving many different areas. Since there are too many policies and effects to discuss here, certain important ones made in the past few years that affect the European Union and Italy will be highlighted. Hydrogen Power One main agenda put forth by President Bush in his recent State of the Union Address was the idea to accelerate the development of hydrogen energy technologies in order to improve energy, economic, and environmental security. On August 5, 2003, U.S. Secretary of Energy Spencer Abraham announced that Italy would join forces with the United States and other countries in the International... ...ng U.S. foreign policy and decisions made by the U.S. regarding their foreign policy in Italy will continue to affect the relationship between these two countries.? Bibliography 1) ?A ?Greater Union? for Europe.? 16 Apr. 2003. 13 Dec. 2003. . 2) ?Italy Joins International Partnership for the Hydrogen Economy, August 5, 2003.? 5 Aug. 2003. 14 Dec. 2003 . 3) ?Italy: U.S. IPR Bilateral Declaration.? 17 Jun. 2003. 14 Dec. 2003 . 4)? ?Port of Genoa Implements Container Security Initiative.? 16 June 2003. 15 Dec. 2003 . 5) Sembler, Mel. ?Food Safety and Trade Issues.? 18 Feb. 2003. 14 Dec. 2003 .

Older people in the society Essay

According to Roberts (1970) older people are the whole of a generation who have survived to a certain age. They are not a deviant group or one small special section of the population. They are ordinary people who happen to have reached a particular age. There are several assumptions made about older people and their health. The first is that increasing age is always accompanied by increasing frailty and disability. As a result, the increasing numbers of older people in society are usually seen as a social and economic burden (Le Grand 1993). The second assumption is that age is that age is always accompanied by ill health. The negative images of aging and older people can be all pervasive and influence decisions about the health and social care of older people which may not necessarily be in their best interest. As per the survey of United States census burro, in the year 2010, 30.8% of total population in Europe was older people aged over 65 years old. Among these, 8.4 percent over 75 years old and 4.9 percent were aged 80 or more than 80 years old. In the year 1990 it was 6.1% and 3.2% respectively, when the total old age population was 23% of total population. These figures prove that the old age population is increasing, and the problems related to old age as well. The first part of this assignment discusses some common issues related to old age. This part mainly focuses on the physical, mental and social problems of senior citizens. Then it goes through some reflective aspects of author. For that I pass through the theories and models of reflection also make an attempt to compare different models of reflection. Finally I examine one of my own experiences with an older person, by using one of the reflective models. Statistics shows that there will be an enormous increase in the ageing population over the next 20 year, particularly in those aged over 75, who will suffer most from illness, or some sort of disability. The population of Great Britain and most other countries is growing older and although this trend has largely been ignored for 2 centauries, it is now regarded as a major political and economic challenge for the future. This is because the last 30years seen a significant increase in the population of both number and proportion of people aged 65 and over. The greatest growth has been in those people aged 85 and over. The world population of older people over 65 will increase more than twice as fast as the total population of the world during  the period 19 96-2000. In every region, the population over 75 will increase at an even faster rate and those over 80 will increase faster of all. There are many health problems related to old age. As per the opinion of Hodkinson (1975) older people differ in three major ways from the young: in the type and number of diseases and accidents, in their reaction to disease and in special features to do with their background (Hodkinson, 1975). They often have a multiplicity of diseases, partly accounted for by the accumulation of non-lethal diseases such as osteoarthritis and deafness. They are more likely to fall than any other age groups, except the under-fives, often with serious consequences. (Department of trade and industry, 1995). Heart disease and stroke are particularly prevalent in old age and the majority of all deaths from heart disease and stroke occur in those aged 65 years and above.Whereas, as a recent study has shown, prevalence rates of most of the major health related behaviors such as smoking, alcohol consumption, sexual behavior and diet were commonly lower among older people (DoH central health monitoring unit, 2006). Psychological or emotional disorders in old people are too common, Older people themselves may be unwilling to seek help or reveal their feelings to others due to a fear of stigma or a lack of knowledge about the help available to them. Chronic diseases, psychological changes, malnutriti on and medication can exacerbate psychological problems in the elderly. Poor eye sight, poor hearing and slower reactions all contributes to a lack of confidence and increased social isolation for some older people. Dementia and depression are the two general psychological disorders in elderly among this dementia is a higher prevalence. According to Victor (1989) it is difficult to accurately estimate the incidence of dementia within the population because of the problem of diagnosis, although unreliable evidence may lead us to believe that most of the population over the age of 65 years is ‘demented’. Aside from the physical and emotional influences accompanying aging, growing old can be a time of social and economic change. For some people in their 50s can be a rich and rewarding time where they can enjoy the fruits of their labors, hand over responsibility for their children and look forward to enjoying new tasks or activities (Gavilan, 1992). For others it may not be such a positive experience, affected by redundancy, financial insecurity,  bereavement and the physical manifestations of aging. Retirement does not only affect an older person’s income but can also have a detrimental effect upon their social contact and status. Most of them consider retirement as a process of loss: loss of inc ome, loss of status, and loss of purpose and routine. In this situation, Jerrome’s (1991) opinion sounds very relevant, he said that there seems to be a paradoxical situation where the state provides money and support for those who are considered too old for employment while those who are receiving the benefits would be happier carrying out a job of any kind. Caring older people is a challenging process, as it is different from caring a younger. When caring an older person it is necessary to observe them well to understand their feelings and emotions. Reflective thinking will help a health practitioner to achieve this. When reflection is considered as an effective tool in clinical practice, one should have a basic knowledge about the meaning of reflection. In fact, defining the terms proves challenging for anyone seeking to make clear the nature of reflection. There have been number of attempts, to define the term reflection by authors, poets and philosophers alike. Among those interpretations, a definition presented by Johns (johns 1995:24) is literally very near to the ‘word’ reflection; he explained reflection as the practitioner’s capability to evaluate, make sense of and learn through personal experience in order to secure more attractive, useful and satisfying work. Moreover, reflective practice has been developed in health care, especially in nursing, as a way of gaining and building up on that experienced knowledge. Before using Reflection as a tool in clinical practice one should (B .J. Taylor 2000:3) â€Å"throw back of thoughts and memories, in cognitive acts such as thinking , contemplation, meditation and any other form of helpful considerations in order to make sense of them and to make appropriate changes if they are required†. As per this suggestion nurses should analyze their day to day practice and secure the valuable knowledge to lighten their future practice. In other words, as an American philosopher Dewey (1963) suggested that one has to learn by doing and realizing what came of what they did. In searching  different studies and opinions about the process reflection, we can find out different opinions about the aspects, styles and ways of using reflection as a tool in professional practice. Schon (1983) offered two main aspects of reflective practice those are; being reflection on action and reflection in action. Reflection on action is a recollection process of thinking and meditating on an action with the aim of making sense of the incident and using the results to improve future doings. It would be helpful, if nurses and health care workers make this theory real in their clinical practice. But the next one, ‘reflection in action’ is quite strange and had some arguments around it. As per the opinion of greenwood (1998) reflection cannot be recognized before action. In contradiction, Reed and Procter (1993) said that, reflective thinking about a situation, which is likely to happen, in advance is an important precursor to introduce clinical leadership and s upervision. In other words thinking through a particular situation may help to make a prediction and give a chance to take some precautions for a future occurring issue. When considering the role of reflection in nursing profession, Taylor (2004) suggested that reflection can be used as a system of thinking which helps the nurses to maintain vigilance in caring especially when caring an older person. Freshwater (2002) raised almost similar opinion he said that, reflection helps to encourage a holistic, individualized approach to care. When go through these opinions, we can understand that reflection helps a lot to give good care to the patient by productively making rapid changes in the clinical approach, in other words, it provides an opportunity for a rapid and progressive refocusing of work activity (Smyth, 1992). Before I make an attempt to assess my reflective account, which has given me a different outlook about old age, I should choose one model of reflection to analyze my experience. There are few theories, help one to explore his/or her clinical experiences or some incidents in which they have taken part a role of a leader, such as Gibbsâ₠¬â„¢(1988) model of reflection, Johns’ model of reflection and Driscoll’s model of structured reflection. Comparing these models, Gibbs’ and Drisoll’s(2000) models raises some questions that are focused on describing, analyzing, evaluating one personal experience and reach a conclusion, from  which finally makes an action plan for the future. Though Johns’ (2002) model appears more complicated and passing through lot of self examine questions, this model fails to draw an action plan which is considered as the vital process of reflective thinking. Even though Gibbs’ and Drissoll’s models are almost same in frame work I like to choose Gibb’s model as it gives me a chance to recollect my feelings and thoughts about my experience, as well as evaluate the good and bad about it. Since we are human beings it is important that our thoughts and feelings are to be memorized and evaluated, according to Taylor (2006) humans have the ability to think and to think about passed emotions, as we are offered with the gifts of memory and reflection. I believe tha t Gibbs’ model has a good frame work and moreover, for me, it is easily applicable in my experience as it is straightforward in nature and it allows me to answer the questions that arise from the practicalities of my clinical experiences. Here I make an attempt to assess one of the main issues of old age on the basis of my own personal experience. I do like to choose Gibbs’ model as a criterion to analyze it. In the first step, as per Gibbs’s model of reflection, ‘description’ of the event includes, what was the event? Where it happened? Who were with you then? What you did? And what were the results and draw backs; the description of my reflective experience is that while I was working in a psychiatric hospital in India, where I have got many different experiences with older people. I considerer all of them as my reflective accounts and it all help me to understand the old age and its complications. The incident is that, there was one patient in our ward he was about 78 years and had some psychological problems. He was very calm and quite almost every time, but occasionally he became very aggressive and violent. In that hospital, a custom was prevailing that inform relatives when a patient become very aggressive. So we used to inform his relatives when he got out of control. After meeting with his son or daughter, his condition would have become significantly normal. And he seemed very happy and comfortable with them. But when they left him there, he was again going back to a depressed mood. When I noticed this events many times I was really interested in that patient and I tried to make a good relationship with him. Finally I succeed; he used to speak with me a lot  even about his thoughts and feelings. And one day he told me that he really did not have any serious psychological disorders. He was acted as a psychotic person so that he could see his family. And he told me that he really did missing them. He never liked to be there. It was one of my mind blowing experiences I encountered during my clinical practice. The reflective account I explained above point out to one of the main problems of old age which is nothing but ‘loneliness’, Social seclusion and loneliness have long been recognized as problems linked with old age (Sheldon 1948 ; Halmos 1952). Loneliness has been defined as an unpleasant emotion state in which the older person feels apart from others. As I completed the description of the event, I go in to the next process; ‘feelings’. In this stage one should recall the situation and try to find out that what he/she thought and felt when they went through the experience? Considering my reflective experience, there were many thoughts passed through my mind. Old age is certain for every human being. Everyone has to pass through that period. At that time I thought about his feelings. He might have been working hard to raise his children, but when he became unproductive he was thrown to the miseries of loneliness. I felt empathy to the patient because after I came to know him more I could thoroughly understand his feelings. And I thought about the reasons of the seclusion of old age. The third stage is ‘evaluation’. As per this stage I should evaluate my experience and find out the good and bad about it. When driving back my memory through my reflective experience, I can say that the main good aspect of that situation was that I could be a good listener of that man. I think he might have experienced some relief when he shared his burden of feelings with me. That awareness gave me a great amount of satisfaction. Moreover I could realize some skills which must have possessed a care worker such as patience and being a good listener, which I had never realized until then. One the other hand, there are some bad aspects too I could find out. Even though I had been working in the same department for about six months I was a little late to realise his problems, I had to find out his feeling of loneliness earlier. It shows, at that time, I have lack of ability to identify the problems of the patients. Analysis of the event is the next stage. In this stage I have to think about what sense can be made of the situation which I faced. The first sense which I could make about this incident is that the main reason of the psychological problems present in older people is because of their social seclusion and loneliness. And the important thing I learned from this incident is the severity of loneliness in older people. They would even act as insane to get rid of their loneliness. They need rather love and care than treatment. As per the Gibbs’ frame work ‘conclusion’ is the next stage. In this step I conceder my faults which I had got when I deal with that incident. In that sense I could have realised the patient’s problem of loneliness earlier. If I came to know about this earlier I could invite the attention of his relatives to this issue. Now I understand that it is necessary to mingle with them and caring them in order to make them comfortable in the surroun dings of an old age home. The final and important stage is ‘action plan’. Here I should think about what I would do if I go through the same situation. Undoubtedly I would act differently because, now I know the draw backs of old age and what they are expecting from others. So if i would be in the same situation I would understand the problem of the patient earlier and help him reduce his feeling of loneliness. Next time I would find out more ways to escape the older patients from being lonely. In order to achieve this, encourage them to busy with some hobbies or learning some new skills, such as the use of the computers. I think they would enjoy learning computers and having great fun sharing their new skill. The next and important thing is that, I have to improve my communication skills. I would make sure that all the elderly inmates in my ward get communicated and listen to their problems. I will consider this as one of my important responsibilities in the clinical area, Because Duffy. K. and Hardicre (2007) suggested that Caring for the elderly patients is a necessary element of the nurse’s role as well as a professional commitment. In conclusion, loneliness is the major issue of old age. It is different from solitude because older people can be lonely while living with other people such as residential care. Loneliness can be a symptom of depression but can be prevented by the encouragement of physical  and mental activity and being socially active; the saying ‘use it or lose it’ cannot be overemphasised. After all, when considering this essay as my reflective writing, it helps me to secure more awareness about my caring older people. Besides that I have got a clear out look about using models and theories to analyses my experiences. Finally, this reflective thinking makes me more confident to face and deal with difficult situations. Reference List: Department of trade and industry; consumer safety unit (1995) home accident surveillance system: report on 1993 accident data and safety research, DTI, London. Dewey, J. (1963) Experience and education, New York: Collier books.87-89. DOH central health monitoring unit (1996) health related behavior: an epidemiological over view, HMSO, London. Driscoll, J. (2000) practicing clinical supervision, London: Bailliere Tindall. Duffy, K. Hardicre, J. (2007) ‘Supporting failing students in practice 1: assessment’, Nursing Times, 10(4): 28-29. Freshwater, D. (2002) Therapeutic nursing: improving patient care through reflection, London: Sage. Gavilan, H. (1992) ‘care in the community for older housebound people: institutional living in our own home?’ Critical public health, 3(4): 18-23. Gibbs, G. (1988) Learning by Doing: A guide to teaching and learning method: Further Education Unit, Oxford: Oxford Brookes University. Greenwood, J. (1998) ‘The role of reflecti on in single and double loop learning’, Journal of advanced nursing practice, 27(5): 1048-53. Halmos, Paul (1952) Solitude and Privacy: A Study of Social Isolation, Its Causes and Therapy. London. Hodkinsin, H. (1975) an outline of geriatrics, academic press, London. Jerrome, D. (1991) social bonds in later life. Social and psychological gerontology, clinical gerontology, 1: 297-306. Johns, C. (1995) ‘Framing learning through reflection within carper’s fundamental ways of knowing in nursing’. Journal of advanced nursing, 22: 226-34. Johns, C. (2002) Guided reflection: Advancing practice, Oxford: Blackwell science. Le Grand, J, (1993) ‘can we afford the welfare state’? British medical journal; 307(6911): 1018-1019. Reed, J. and Procter, S. (1993) Nurse education: a reflective approach, London: Edward Arnold. Roberts, N. (1970) our future selves: care of the elderly, Allen and Unwin, London. Schon, D. (1983) The reflective practitioner: how practitioners think in action, New York: Basic books. Sheldon, J. H. (1948) The Social Medicine of Old Age: Report of an Inquiry in Wolverhampton, Oxford University Press, London. Smyth, J. (1992) ‘Teachers’ work and the politics of reflection’, American education research journal, 29(2): 267-300. Taylor, B. (2004) ‘Technical, practical and emancipator reflection for practicing holistically’, Journal of holistic nursing, 22(1): 73-84. Taylor, B. J. (2003) ‘Emancipator reflective practice for overcoming complexities and constraints in holistic health care’, Sacred space, 4(2): 40-5. Taylor, B. J. (2006) Reflective Practice: A guide for nurses and mid wives, 2nd edn. UK: Open University press, Milton Keyness. Victor, C. (1989) ‘the myth of the woopie: poverty and affluence in later life’, geriatric medicine, (19)12: 22, 25-2

What are the Responsibilities of a Teaching Assistant

Teaching assistants are referred to in different ways—teacher aides, instructional aides, and paraprofessionals—depending on the area of the country and the school district where they work. Teaching assistants fulfill a key support role in helping students succeed in the classroom environment. Their responsibilities are many and varied. Responsibilities Teaching assistants help the teacher with standard housekeeping tasks like taking attendance, collecting homework, and recording grades. They also help teachers prepare and set up materials and information for lessons. In addition, teaching assistants: Reinforce lessons and help students as they complete classwork. This might include small group or one-on-one help.Enforce classroom rules as well as rules outside of the classroom. This might include hall and cafeteria monitoring duties.Serve as a sounding board and assist teachers as they create lessons and classroom policies. Additionally, they also help teachers work through issues with individual students and help meet the needs of mainstreamed special education students by making modifications to lessons as needed. This might include reading tests out loud and providing additional time outside of class for students to finish assessments. Required Education Teaching assistants typically are not required to have teaching certification. However, teacher aides must meet higher requirements than in the past to work at Title I schools. These requirements are not necessary for food service workers, personal care assistants, non-instructional computer assistants, and similar positions. The requirements include the following: Paraprofessionals must have earned a secondary school diploma or its recognized equivalent such as a GED.They must also have completed two years of study at a college or university (48 semester hours), orThey must hold at least an associate degree, orThey must be able to demonstrate through an assessment the knowledge of and ability to assist in instructing, reading, writing, and mathematics. Characteristics of Teaching Assistant Successful and effective teaching assistants share many of the same qualities. These include: Flexibility: Teacher aides must work with their assigned teacher in the classroom. This requires a degree of flexibility as they are assisting the teacher in their daily teaching duties.Dependability: Teachers grow to depend on their teacher aides to assist them in the classroom. Their plans might sometimes include the need for additional supervision by the teacher assistant if the class is divided into groups.Ability to communicate: Teaching is all about interactions and communication. The teaching assistant needs to be able to interact with the teacher and students on a daily basis.Love of learning: Teaching assistants need to show through their words and actions that they find value in what is being taught. They should never talk badly about the teacher or the subject to the students in the class.Love of children and teenagers: The teachers aide will be dealing with children and teenagers each day. Therefore, they need to enjoy being around this population and believe that each ca n succeed in class. Sample Salary The annual median teaching assistant salary was $26,970 for the 1.38 million paraprofessionals working across the nation in 2018, the most recent year for which figures are available, according to the Department of Labors Occupational Outlook Handbook. However, salaries vary by state. Alaska tops the nation in pay for instructional assistants, with an average annual salary of $39,640, the Department of Labor says. Other top-paying states and regions include: Massachusetts: $35,680California: $35,350District of Columbia: $35,300Washington (state): $35,130 Job growth for the field is predicted to be 4 percent through 2028, according to the Department of Labor.

Industrial development bank of india - Free Essay Example

Sample details Pages: 20 Words: 5964 Downloads: 4 Date added: 2017/06/26 Category Statistics Essay Did you like this example? INTROUCTION The Industrial Development Bank of India Limited, was established as wholly-owned subsidiary of Reserve Bank of India. The foundation of bank was laid down under an Act of Parliament, in July 1964. The main aim behind the setting up of IDBI was to provide credit and other facilities for the Indian industry, which was still in the initial stages of growth and development. In February 1976, the ownership of IDBI was transferred to Government of India. After the transfer of its ownership, IDBI became the main institution, through which the institutes engaged in financing, promoting and developing industry were to be coordinated. In January 1992, IDBI accessed domestic retail debt market for the first time, with innovative Deep Discount Bonds, and registered path-breaking success. The following year, it set up the IDBI Capital Market Services Ltd., as its wholly-owned subsidiary, to offer a broad range of financial services, including Bond Trading, Equity Broking, Client Asset Management and Depository Services. Don’t waste time! Our writers will create an original "Industrial development bank of india" essay for you Create order In September 1994, in response to RBIs policy of opening up domestic banking sector to private participation, IDBI set up IDBI Bank Ltd., in association with SIDBI. In July 1995, public issue of the bank was taken out, after which the Governments shareholding came down (though it still retains majority of the shareholding in the bank). In September 2003, IDBI took over Tata Home Finance Ltd, renamed IDBI Home finance Limited, thus diversifying its business domain and entering the arena of retail finance sector. The year 2005 witnessed the merger of IDBI Bank with the Industrial Development Bank of India Ltd. The new entity continued to its development finance role, while providing an array of wholesale and retail banking products (and does so till date). The following year, IDBI Bank acquired United Western Bank (which, at that time, had 230 branches spread over 47 districts, in 9 states). In the financial year of 2008, IDBI Bank had a net income of Rs 9415.9 crores and total assets of Rs 120,601 crores. The Present Today, IDBI Bank is counted amongst the leading public sector banks of India, apart from claiming the distinction of being the 4th largest bank, in overall ratings. It is presently regarded as the tenth largest development bank in the world, mainly in terms of reach. This is because of its wide network of 688 branches, 1139 ATMs and 457 centers. Apart from being involved in banking services, IDBI has set up institutions like The National Stock Exchange of India (NSE), The National Securities Depository Services Ltd. (NSDL) and the Stock Holding Corporation of India (SHCIL). Products Services Personal Banking Deposits Loans Payments Tax Payments, Stamp Duty Payments, Easy Fill, Bill Payment, Card to Card Money Transfer, PayMate, Online Payments Mutual Fund Demat Account IPO Insurance FamilyCare, Weathsurance Cards Debit Card, Credit Card, Cash Card, Gift Card, International Debit-cum-ATM Card, World Currency Card Institutional Banking Lockers India Post NRI Services Phone Banking SMS Banking Account Alerts Internet Banking Corporate Banking Project Finance Infrastructure Finance Syndication, Underwriting Advisory Services Carbon Credits Business Working Capital Cash Management Services Trade Finance Tax Payments Derivatives Technology Upgradation Fund Scheme (TUFS) Film Financing Scheme Direct Discounting Bills Rehabilitation Finance Others SME Finance Agri-business Products Main Functions of IDBI- IDBI coordinates between various financial institutions who are highly involved in provide financial assistance, promoting, and developing various industrial units IDBI is also engaged in a variety of promotional activities such as development programs for the fresh entrepreneurs, planning of consultancy services for both the small scale enterprises and the medium sized industrial units IDBI works for the advancement of technology and other welfare schemes to ensure economic development. Industrial Development Bank of India acts as a catalyst in various industrial development programs. IDBI provides financial assistance to all kinds of industrial units which comes under the provisions of the IDBI Act. IDBI has served various industrial sectors in India for about three years and has grown leaps and bounds in its size and operating units. IDBIs role as a catalyst IDBIs role as a catalyst to industrial development encompasses a wide spectrum of activities. IDBI can finance all types of industrial concerns covered under the provisions of the IDBI Act. With over three decades of service to the Indian industry, IDBI has grown substantially in terms of size of operations and portfolio. Developmental Activities of IDBI Promotional activities In fulfillment of its developmental role, the Bank continues to perform a wide range of promotional activities relating to developmental programmes for new entrepreneurs, consultancy services for small and medium enterprises and programmes designed for accredited voluntary agencies for the economic upliftment of the underprivileged. These include entrepreneurship development, self-employment and wage employment in the industrial sector for the weaker sections of society through voluntary agencies, support to Science and Technology Entrepreneurs Parks, Energy Conservation, Common Quality Testing Centres for small industries. Technical Consultancy Organizations With a view to making available at a reasonable cost, consultancy and advisory services to entrepreneurs, particularly to new and small entrepreneurs, IDBI, in collaboration with other All-India Financial Institutions, has set up a network of Technical Consultancy Organizations (TCOs) covering the entire country. TCOs offer diversified services to small and medium enterprises in the selection, formulation and appraisal of projects, their implementation and review. Entrepreneurship Development Institute Realising that entrepreneurship development is the key to industrial development, IDBI played a prime role in setting up of the Entrepreneurship Development Institute of India for fostering entrepreneurship in the country. It has also established similar institutes in Bihar, Orissa, Madhya Pradesh and Uttar Pradesh. IDBI also extends financial support to various organisations in conducting studies or surveys of relevance to industrial development. IDBI Lending Process, Institutional Structure, Training, Information and Data Needs IDBI was established in 1964 under an Act of Parliament for providing credit and other facilities for the development of industry. It also acts as the principal financial institution for coordinating the activities of institutions engaged in the finance, promotion, or development of industry. The Government of Indias shareholding in IDBI amounts to 72% and the rest of the shares are owned by the general public. IDBI has also offered specialised schemes for energy conservation viz. Equipment Finance for Energy Conservation and Energy Audit Subsidy Scheme. Presently, IDBI provides rupee and foreign currency term loans for the acquisition and installation of energy conservation equipment, and for pollution control and prevention projects in highly polluting industrial sectors, funded inter alia, out of World Banks Industrial Pollution Prevention Project (IPPP) or the US Agency for International Development-funded Greenhouse Gas Pollution Prevention (GEP) Project. Besides, finance is made available for EE/EM out of the on-going Industrial Energy Efficiency Project of the ADB of which the TA forms a part. Under this project, finance is given to industrial units in rupee as well as in foreign currency. Additional funding needs left unmet by the ADB funds are supplemented by IDBIs own funds as well. 3.1 IDBI Institutional Structure IDBI is governed by a Board of Directors and its operation is carried out under the supervision of the Chairman and Managing Director assisted by four Executive Directors and one Adviser. With its head office in Mumbai, IDBI has 43 additional offices throughout India. As of November 1998, IDBI was structured into 33 departments, which are organized into five groups to facilitate proper distribution of responsibility. Among these departments, the ones relevant to the efficient lending for ee/em activities are briefly described below. 3.1.1 Project appraisal department The Project Appraisal Department (PAD) appraises all the industrial project proposals. PAD projects constitute the majority of projects sanctioned by IDBI in terms of value. Besides a number of smaller projects are funded at the branch level. 3.1.2 Corporate finance departments The three Corporate Finance Departments (CFDs) follow up on the projects that have already been sanctioned, in order to ensure their timely implementation and proper utilization of funds. In addition, a new concept of a Relationship Manager was instituted within the CFDs. These managers will be dedicated to manage IDBIs interactions with a major industrial (ownership) group, such as Reliance Industries, the Tata Group, etc. While the relationship manager system works well from the perspective of consolidating knowledge about an industry group, it may not work as well where the focus has to be on an aspect of technology within an industry sector. For example, a relationship manager cannot be expected to be an expert on energy efficiency in every industry sector that forms a part of the industry group being dealt with by him/her. Hence, in order to develop some expertise in some of the industries, which are not necessarily dominated only by a few major industry groups, industry-sector-wise approach is also adopted. Thus the organization of a CFD is a workable mix of industry group and industry sub-sector, with the expertise of one Dealing group drawn upon by another. 3.1.3 Forex services and treasury departments: The Treasury and Funding Division contracts, decides on utilization and monitors all lines of credit from multi-lateral institutions like the World Bank (WB) and the Asian Development Bank (ADB). It manages the various specialized loans and grants for energy and environmental technology projects, including this TA project. Organizational Structure IDBIs organization structure is driven by its business objectives of offering the best services to the major industry groups. At the same time it is so organised to have industry specialists in important industrial sub-sectors as well. The organisational structure is geared to provide the best products and services in the present competitive environment while simultaneously attempting to meet its developmental role governed by issue-based lending. Following financial sector liberalisation, the environment has turned highly competitive compelling IDBI to organise itself in a manner to prioritise the objective of offering the best services to the major industry groups over focus exclusively for energy efficiency and environmental activities. There is a need to create a home or center for energy and environmental technical activities. This center needs to be located at the highest level within IDBI in order to ensure visibility, and to provide a resource base, which could be accessed by all the concerned departments described above. IEEP and other such lines of credit are being managed by the FSD, which is not directly engaged in either project appraisal or in implementation. Hence its role is one of being a facilitator and co-ordinator for giving the needed focus to the ee/em activities. It is quite possible for this Section to be upgraded to be the home suggested above with appropriate technical staff for policy making, facilitation of the lines of credit, developmental activities, etc. in ee/em issues. This will help clarify the varied roles of CFD and FSD and avoid duplication of effort, better coordination and communication between the FSD and the CFD. A system of built-in incentives for co-operation and co-ordination between the concerned departments will also aid the organisation in playing a more effective role in ee/em activities relating to policy formulation, loan approvals and subsequent disbursement. 3.3 IDBI Lending Procedure The current procedure for lending at IDBI includes: (1) an inquiry stage, (2) an application stage, (3) site visits, (4) preparation of an appraisal note, (5) an evaluation by IDBI committee, (6) the issuance of a Letter of Intent, and (7) preparation of a legal agreement for lending for suitable projects. IDBI also operates special credit lines for the mitigation of pollution, implementation of the Montreal Protocol commitments, modernization and expansion of energy intensive industry, etc. The technical norms for these lines were determined individually, but the lending procedure is the same as that for other IDBI projects. The lending procedure followed by IDBI is comprehensive, based on accepted methods of evaluation and collective wisdom, and is transparent. The procedure, however, does not provide for a serious attempt to evaluate the energy and environmental components of any lending proposal. At each stage of the application for a loan, a company is required to provide information on energy consumption, along with that of other utility services. Energy consumption information is disaggregated into fuels and electricity categories. The company is not required to provide indicators of energy use to IDBI, which makes the information difficult to evaluate. Indicators could link the energy (fuel and electricity) consumption to physical activity levels and permit comparison with best practice in India and abroad. IDBI could also ask for additional information on technical indicators in the loan application that industries are required to complete. Conclusions and Recommendations Our evaluation of IDBIs institutional structure, lending procedures, and training and information needs revealed that there is a clear need for greater focus towards ee/em activities, by strengthening the existing institutional structure and capability in this area. This strengthening can be accomplished through the creation and establishment of a resource center that will provide the necessary technical backup for IDBI officers at all levels. The center resources will include access to technical experts, handbooks, and databases. The technical experts will assist in the organization of seminars, workshops, and training programs. Role of Financial Institutions in industrial development To accelerate the process of industrialization, immediately after independence, Government of India took appropriate steps to create a network of financial institutions to fill the gaps in the supply of long-term finance to industry. IFCI was the first institution which was set-up in 1948 followed by SFCs established by different States/Union Territories under the SFCs Act.1951. The NIDC (1954), ICICI (1955), NSIC (1955), and RCI (1958) were established. IDBI was established in 1964 as the apex institution in the field of industrial finance. UTI was also established in the same year. LIC came into existence in 1956 and GIC in 1972. SIDCs/SIICs strengthened institutional set-up at regional level. IRCI was set-up in 1971 which was later renamed as IRBI. Reserve Bank has played an important role in creation of all these institutions. Thus, structure of financial institutions in India has become so greatly diversified and strengthened that it has the ability to supply finance to a variety of enterprises in diverse forms. In this , an attempt has been made to analyze the role of specialized financial institutions in meeting the term-requirements of our growing industrial sector. For this purpose, an effort has been made to ascertain the extent and rapidity of financial assistance granted by financial institutions to industrial sector in general and private sector in particular. Apart from analyzing purpose wise, industry wise and state wise assistance granted by financial institutions, special attention has been given to evaluate their role in removal of regional imbalances through provision of finance to projects located in identified backward areas of the country. In order to make an in depth study, three financial institutions of diverse nature namely, IDBI, ICICI and SFCs have been chosen which together provided about two-third of the total financial requirements of the industrial sector. During 1970-90 assistance sanctioned and disbursed by IDBI has increased at an annual average growth rate of 32.3 per cent and 27.7 per cent respectively, which were higher than the growth rate of sanctions and disbursements of all financial institutions. IDBI has granted 37.4 per cent of its total assistance by way of direct assistance and remaining 62.6 per cent indirectly through other financial institutions. Loans were major form of direct assistance with 88.7 per cent share, while refinance of industrial loans with 59.5 per cent share was the major form of indirect assistance. Private sector has been the largest beneficiary of IDBIs assistance followed by public, joint and cooperative sectors. IDBI has taken keen interest in granting finances to small scale sector which received 30 per cent of the total assistance sanctioned by IDBI. More than half of its assistance has gone to basic and capital goods industries while consumer goods and services have got a little more than one-third of total assistance of IDBI. It has paid equal attention to new and existing projects in its financing operations. Though IDBIs assistance is spread over all State and Union Territories, but its substantial proportion is concentrated among few relatively developed and large states. Similarly, a major part of its total assistance granted to projects located in identified backward areas, which formed about two-fifth of its total assistance, has gone to few developed and large states. In chapter five, the contribution of ICICI in meeting the financial requirements of the industrial sector has been analysed. During 1970-90 assistance sanctioned by ICICI increased at a rate of 26.5 per cent per annum while disbursements increased 23.1 per cent. In accordance with its objective, ICICI has sanctioned 35.7 per cent of its total assistance in the form of foreign currency assistance. Rupee loans constituted 37.5 per cent of total assistance sanctioned by ICICI. More than four-fifth of its total assistance has gone to private sector. ICICI has granted greater part of its assistance (61.7 per cent) to existing projects for their expansion, modernisation, etc. while new projects accounted for 38.3 per cent of total assistance. More than two-third of ICICIs assistance has gone to non-traditional growth oriented industries like chemicals and chemical products, Iron and Steel, Machinery, etc. Assistance of ICICI is basically concentrated among few relatively developed states despite some reduction during eighties. Over the years, ICICI has been granting an increasing proportion of its total assistance to backward areas of the country, but its major part has gone to backward areas of few developed states. Household sector has contributed an increasing share in the total financial resources of ICICI, while governments share has declined. SFCs which are state level development banks set-up for financing small and medium scale industries in their respective states. Till about 1970, operations of all SFCs grew at a slow pace but during seventies there was rapid growth in their operations and the pace has been sustained during eighties also. During 1970-90 sanctions of SFCs increased at a rate of 20.5 per cent per annum while disbursements increased by a marginally higher rate of 21.2 per cent. Performance of different SFCs has varied from one another and from year to year. In accordance with their basic objective, 76.1 per cent of total assistance sanctioned and 91.4 per cent of the total number of units assisted by SFCs were in the small scale sector. Services have been the largest beneficiary of SFCs assistance followed by chemicals and chemical products, food products, textiles, etc. SFCs have, by and large, confined their assistance to new projects which accounted 84.4 per cent of total assistance. SFCs have granted more than half of their assistance to projects located in identified backward areas of their respective states. An important feature is that SFCs of relatively backward states have performed better in this regard than that of developed states. However, SFCs depend heavily on government sources for their financial requirements. The aggregative role of all financial institutions in the industrial development of the country. It clearly reveals that industrial concerns in India depend more on financial institutions to finance their ventures than raising funds directly from the capital market. Conclusions of this study have been given in the last chapter. Major findings of this study are summarised below: During the last twenty years assistance granted by financial institutions has increased at a significantly high rate leading industrial concerns to depend more and more on them. In terms of growth rate of sanctions, IDBI and ICICI have outstripped the average growth rate of sanctions of all financial institutions, but SFCs have fallen behind this trend. The gap between assistance sanctioned and disbursed is more pronounced in case of IDBI and ICICI but it is relatively narrower in case of SFCs. Private sector has been the largest beneficiary of assistance of financial institutions followed by public sector. Proportion of investment-savings gap filled up by financial institutions has increased in private and public sector both during eighties. Financial institutions have provided assistance to new as well as existing projects. However, SFCs have confined their financing operations basically to new projects. IDBI and ICICI have granted major part of their assistance to basic and capital goods industries but SFCs have paid greater attention on consumer goods industries. Statewise break-up of assistance provided by financial institutions reveals considerable concentration among few developed and large states despite some reduction during eighties. North-Eastern states have been almost completely neglected by all financial institutions. A significant part of the total assistance granted by financial institutions has gone to projects located in identified backward areas of the country, but its statewise distribution has helped to reduce intra-state disparities in industrial development and increased inter-state disparities between developed and backward states. Finally, IDBI and ICICI have generated a significant part of their resources from the household sector but SFCs are largely dependent upon the government sources. Role of Financial Institutions in Foreign Investment in India Financial Institutions plays a significant role in Foreign Investment in India. There are various financial institutions in India which undertake significant initiatives to ensure foreign investment inflows in the industrial units in India. The main role of the financial institutions in India in respect to foreign investments is to aid foreign investors in investment activities in India. The funds from overseas countries come in two forms: Foreign direct Investments and Joint Ventures of the foreign companies with Indian companies. Foreign direct investments inflows are approved through automatic route or through government route. Those units that require government approval to get funds require the FIPB approval. Foreign Direct Investment through automatic route, on the other hand, does not require FIPB approval. All these allocation of financial assistance to various industrial units in India are guided by the financial institutions set up in various parts of India. Some of the leading financial institutions in India that play an important role in foreign investments in India are RBI, IDBI Bank, IFCI Bank, ICICI Limited and EXIM Bank. RBI in Foreign Investment- RBI works through automatic route and government route in allocating funds in various sectors of the Indian industry. Its mandatory for all the foreign investors to get approvals from RBI in order to carry out invest activities in the industrial units in India. FDI is allotted up to 100 percent under automatic route and it does not require approval from FIPB. IDBI in Foreign Investment- IDBI acts as a financial institution which allots financial assistance to the industrial sectors which are mainly involved in manufacture or processing of goods, mining, transport generation and distribution of power both in private and public sectors. Industrial Development Bank of India (IDBI) has been a fully owned subsidiary bank of the Reserve Bank of India till February 1976 after which it was disconnected from RBI. ICICI Limited in Foreign Investment- ICICI Limited was set up in the year 1994 and ICICI Bank is a entirely owned subsidiary of ICICI Limited. ICICI Limited is known as one the best financial institutions in India as it offers a wide spectrum of services to its customers. ICICI bank offers a wide array of banking products and financial services to corporate and retail customers through various delivery channels, specialized subsidiaries and affiliated firms, venture capital units, non-life insurance sectors, and so on. EXIM Bank in Foreign Investment- EXIM Bank plays a pivotal role in providing financial assistance to encourage the export production in India. Direct financial assistance, Foreign investment finance, Term loaning options for export production and export development, Pre-shipping credit, Export bills rediscounting, and Refinance to commercial banks are some of the services that EXIM Bank has specialized in. Role of IDBI in Foreign Investment The role of IDBI in Foreign Investment is mainly to provide financial assistance on a consortium basis to various industrial units in India which are mainly involved in manufacturing or processing of goods, mining, transport generation and distribution of power. Industrial Development Bank of India (IDBI) has been a fully owned subsidiary bank of the Reserve Bank of India till February 1976. It was then disconnected from RBI and was made an autonomous corporation owned by the Government of India. IDBI is known to be the tenth largest bank in the world in terms of carrying out developmental activities. Some of the financial institutions set up by IDBI to carry out the activities are The National Stock Exchange (NSE), The National Securities Depository Services Ltd. (NSDL), and Stock Holding Corporation of India (SHCIL). Role of IDBI in Foreign Investment It manages various financial institutions working under IDBI bank Provides financial assistance to various industrial units in terms of developments It also offers refinancing options including term loans to the suitable financial institutions It provides funding to the industrial units that are involved in manufacture or processing of goods, mining, transport generation and distribution of power both in private and public sectors It also provides finance to various projects, expansion of any project, diversifications, or even developing the projects which will exceed Rs. 30 million and it also provides funding to those projects which cost less than Rs. 30 million through indirect means as it offers refinancing to the main financial institutions such as SFC/Commercial Banks etc OBJECTIVES OF IDBI IDBI is the apex institution in the area of long term industrial finance. It was established under the IDBI Act 1964 as a wholly owned subsidiary of RBI and started functioning on July 01, 1964. Under Public Financial Institutions Laws (Amendment) Act 1976, it was delinked from RBI. IDBI is engaged in direct financing of the industrial activities as well as in re-finance and re-discounting of bills against finance made available by commercial banks under their various schemes. The objectives of this institution are to create a principal institution for long term finance, to coordinate the institutions working in this field for planned development of industrial sector, to provide technical and administrative support to the industries and to conduct research and development activities for the benefit of industrial sector. It raises funds by way of market borrowing by way of bonds and deposits, borrowing from Govt. and RBI, borrowing abroad in foreign currency and lines of credit. Its functions include: -direct loans (rupee as well as foreign currency) to industrial undertakings as defined in the Act to finance their new projects, expansion, modernisation etc. -soft loans for various purposes including modernisation and under equipment finance scheme -underwriting and direct subscription to shares/debentures of the industrial companies. -sanction of foreign currency loans for import of equipment or capital goods. -short term working capital loans to the corporates for meeting their working capital requirements. -refinance to banks and other institutions against loans granted by them. Of late, with the reforms in the financial sector, IDBI has taken steps to re-shape its role from a development finance institution to a commercial institution. It has floated its own bank IDBI Bank as also a Mutual Fund. During the financial year 1999-2000 IDBIs total sanctions were Rs.28308 cr (19.2% increase), the total assets were Rs.72169 cr, net worth at Rs.9025 cr, capital adequacy ratio of 14.5%, DER 6.8:1 and PBT Rs.1027 cr (1301 cr previous years). To meet emerging challanges, it has been introducing new products, setting up Mergers Acquistions Divn, increasing fee based business such as corporate advisory services, credit syndication, debenture-trushtee ship etc., setting up of IT sector subsidiary-IDBI Intech Ltd, venture capital fund, joint ventures and transfer of not less than 51% of IDBIs share capital in SIDBI to PSBs as a result of SIDBI (Amendment) Act 2000 effective from 27.03.2000. IDBI scouting for buyouts, two banks on radar After acquiring United Western Bank three years ago, IDBI Bank is at it once again and has identified two domestic lenders as possible targets. Disclosing this, the public sector banks Chairman and Managing Director Yogesh Agarwal told reporters here today that talks were on with the two banks. He did not divulge the identities of the two banks. IDBIs move is in line with the central governments thinking favoring a consolidation in the Indian banking sector. IDBI does not need to raise funds for the acquisitions but may look at capital raising to finance its business growth. The bank has dropped its earlier plan to sell its Pune-based home loan subsidiary, IDBI Home Finance (IHFL). Review of Progress (Operations) IDBI has given special attention to better regional development and innovational and promotional activities. It has conducted surveys of backward regions. It has given special help to backward regions on concessional terms. IDBI is playing a more dynamic role in promoting growth of industries as an innovator in the area of industrial finance. The financial resources are being diverted into socially more desirable channels. Emphasis is being placed on assistance to small and new entrepreneurs and units located in underdeveloped regions in the country. IDBI is the major source of industrial finance. Its sanctioned and disbursed amount is 37% and 40% respectively of the total sectioned and disbursed amount of all the term-lending institutions. In the field of company promotion, IDBI has set up technical consultancy organisation which helps in the preparation of feasibility studies, project reports, guidance in the economic, financial and managerial aspects of the new prospect. Refinance of export credit is offered at a lower rate of interest. In the field of export financing, it was acting as an export bank. It is due to the fact that IDBI is the apex bank in the world of industrial finance and it must act primarily as a residual lender of last resort and fill up the gaps in industrial finance which are left out by other financial institutions. Critical Evaluation The IDBI, during 35 years of its working has done commendable job in different areas. It has given special attention to better regional development and innovational and promotional activities. It has conducted surveys of backward regions. It has provided special help to backward areas of the country on concessional terms. The financial resources of IDBI are being directed into socially more desirable channels, refinance of export credit is offered at the lower rate of interest. It sanctioned and disbursed amounts are nearly 37% and 40% respectively of the total sanctioned and disbursed amount of all the term lending institutions of India. Thus, under the able leadership of IDBI, the specialized term financial institutions of our country are poised to play a vital and dynamic role in the process of industrial development of our country. Investment Industrial Scenario: The rising trends in gross domestic investment and savings, as depicted in figure 1, augur well for the sustainable development of the economy. Trends in Investments Savings (as % of GDP): Year Gross Domestic Investment Gross Domestic Savings 2003-04 27.5 29.8 2004-05 32.1 31.7 2005-06 35.5 34.2 2006-07 36.9 35.7 2007-08 39.1 37.7 During the fiscal year 2008-09, Index of Industrial Production (IIP) recorded a growth of 2.4% as compared to a growth of 8.5% achieved during 2007-08. As per use-based classification, growth in IIP was largely driven by capital goods (7.0%) and consumer goods (4.4%). Sectoral Growth of IIP (%): 2007-08 2008-09 Basic Goods 7.0 2.7 Capital Goods 18.0 7.0 Intermediate Goods 8.9 -2.7 Consumer Goods 6.1 4.4 IIP (General) 8.5 2.4 The index of six infrastructure industries (accounting for a weightage of 26.7% in IIP) viz. electricity, crude oil, petroleum refinery products, coal, finished steel and cement witnessed a growth rate of 2.7% during 2008-09 (5.9% during 2007-08). Foreign Exchange Reserves Exchange Rates: As at March 31, 2009, Indias foreign exchange reserves stood at USD 251.99 billion, which were lower by USD 57.74 billion compared to end-March 2008. During 200809, forex market exhibited turbulent features owing to failure of globally active banks. Exchange rate for USD as at end-March 2009 stood at Rs.50.95 as compared to Rs.39.97 as at end-March 2008. IDBI provide financial assistance to industrial development IDBI Bank provides financial assistance to industrial concerns by way of a variety of products and services which include project finance, equipment finance, asset credit, equipment lease, technology upgradation fund scheme, refinance for medium scale industries and bills finance. It provides project-related finance for the establishment of the new industrial projects as well as for expansion, diversification and modernization of existing industrial enterprises. In response to the changing financial needs of industries, IDBI Bank has also designed other products to meet the short term funding, core working capital and other short term requirements of industrial units. It also offers fee-based services in the areas of merchant banking, corporate advisory services, forex services, etc. IDBI Bank has also set up subsidiaries and associates to offer banking products services, capital market and trusteeship services, as also registrar and transfer services structured to meet customized c lient requirements. For meeting the fund requirements thereof as well as towards its various other business operations, IDBI Bank raises resources directly from the market (at market related interest rates) from retail as well as institutional investors both within India and abroad, through a variety of investor-friendly instruments. IDBI Banks resource raising efforts have brought it closer to all sections of society. Resource Raising IDBI Bank has been mobilizing resources through a combination of debt and equity. It made a public issue of equity shares in 1995 in terms of the Offer Document approved by SEBI. IDBI Banks shares are listed on National Stock Exchange and Mumbai Stock Exchange. The shares can be held in dematerialised (demat) form in National Securities Depository Ltd. (NSDL) or Central Depository Services (India) Ltd. (CDSL). NSDL/CDSL are depositories where the securities of an investor are held in electronic form through the medium of Depository Participants (DPs). This facility obviates the difficulties of loss, signing of transfer deeds, delay in transfer, etc. and offers scope for paperless trading. IDBI Bank also raises funds from the public through public issues of unsecured bonds. The objective of various bond issues is to part finance funding requirement of IDBI Bank and at the same time provide appropriate investment opportunities for the retail investors. The three Registrars appointed by IDBI Bank for various public issues have also been retained for servicing the public issues of IDBI Bank. Code of Business Principles Business Partners IDBI Bank is committed to establishing mutually beneficial relations with its customers and business partners. It also expects its partners to adhere to business principles consistent with its own, in all its business dealings. Business Integrity IDBI Bank shall not give or receive, whether directly or indirectly, bribes or other improper advantages for business or financial gain. No employee may offer, give or receive any gift or payment, which is, or may be construed as being, a bribe. Any demand for, or offer of, a bribe must be rejected immediately and reported to management. Community Involvement IDBI Bank strives to be a trusted corporate citizen and, as an integral part of society, to fulfil its responsibilities to the societies and communities in which it operates. REFINANCING OPTIONS OF IDBI Education loans IDBI Bank aim at providing financial support to deserving/ meritorious students for pursuing higher education in India and abroad. With an array of courses to choose from and easy repayment options, IDBI Bank makes sure you get complete financial backing. Home loans: Home, sweet home, built out of your dreams. A place where you return after a hard days work and relax, a place where you share precious moments with your family. A place that gives you a sense of belonging. IDBI Bank helps you realize your long cherished dream of owning your home through hassle free and customer friendly home loans. Loan against property: We realize how important it is to raise money in the face of exigencies. We help you through these difficult situations through our customer friendly loans against property (residential commercial) product. Business loan: IDBI Bank offers Business Loan to business people for their short or long term financial needs. A lot of times it is important for businessmen to acquire a certain amount of money for running their enterprise. It is well known that without the required capital no business can run. Personal loan: You dont have to wait till you save enough money to fulfill a dream thats just a step away with a Personal Loan from IDBI you can go ahead and have all the things youve been dreaming of without even worrying how to repay it. Personal Loans from IDBI comes with an insurance cover. You can also transfer your existing loan to IDBI and save up to Rs 50,000

Influence Of The Human Development Across The Life Span

Through this course, we have learned that there are many factors which can influence the human development across the life-span. Some of these factors include the art of outdoor play when we are children and the concept of religion versus spirituality as we enter young adulthood. Though these are great factors to discuss, for my paper, I chose to discuss factors contributing to the last few stages of the life-span where individuals start to need more assistance. These factors include government provided funds for the elderly, the act of caregiving, and the idea of curing old age. For this assignment I chose the following news article: â€Å"White House Vows Fight Against Alzheimer’s, Better Nursing Homes.† This article outlines the problem we, as a country, are facing when providing for our elderly. It goes on to describe the increasing numbers of those over sixty-five, the baby boomer population, and how this increase could affect our economy. It is suggested that as t he number of senior citizens increase, the number of those supported by the government will also increase. The article then proceeds to discuss the way our aging society will affect governmental programs such as Medicare and Medicaid, and how these programs will be affected financially. Not only does this article assert that our nations expenses will rise, but it also describes that the need for health providers and caregivers will continue to rise as well. Because of this newfound need of assistance, theShow MoreRelatedLife Span Development1429 Words   |  6 PagesIntroduction The goal of the life span perspective of development is to understand how and why all different kinds of people, everywhere, and of every age, change over time (Berger, 2011). Developmental psychologists study the constant changes we experience throughout life, including physical, emotional, social, and cognitive development. 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Why Metal Music Does Not Create Violence in Teenagers Free Essays

Loud, aggressive, and fast, metal music has been accepted worldwide as an acceptable genre of music. Yet, some people cannot comprehend a genre of music that thrives on being the horror movie of music, and purposefully creates controversy at nearly every turn. â€Å"The media has irresponsibly finger-pointed† (Sterngold). We will write a custom essay sample on Why Metal Music Does Not Create Violence in Teenagers or any similar topic only for you Order Now One of the most recent examples of metal being blamed for a national tragedy was in the shooting of Congresswoman Gabrielle Giffords. Here, a song by Drowning Pool was blamed as the sole motivator for the shootings. However, the most prolific example of the media irresponsibly finger-pointing at metal music has to be the case of Columbine. After the Columbine shootings, the authorities placed sole blame on Marilyn Manson and his music for the shootings suggesting that Manson’s music, or his fans, incite violence (Sterngold). The only problem with their claims was the fact that the two shooters did not listen to, nor where they fans of, Manson’s controversial music. This brings the question of whether or not the claims placed on metal music for leading to violent behavior are true and can be supported. An example of what those who think metal has a direct correlation to violence say that Manson’s music promotes â€Å"hate, violence, death, suicide, drug use, and the attitudes and actions of the Columbine High School Killers (D’Angelo). However, the other side of the story can be best stated by Slayer drummer Dave Lombardo when he said, â€Å"We’re telling stories. It’s not actions-it’s just music. It’s fantasy stuff, just putting thoughts on paper, that’s a crime? † (Considine). Although metal is dark, heavy, and often times inappropriate, it does not have a negative effect on an otherwise normal and productive listener, especially teenagers, because metal is just a different genre of music, meaning that its lyrics do not have a negative affect on an otherwise normal listener. To begin, artists are too often misinterpreted and bashed with claims that are stretched to the point of lies, creating the opinion that all of their listeners can be stereotyped into a select, violent, group. One case of this can be with the band Slayer, one of the most popular thrash metal bands of all time. Slayer has been sued multiple times and is one of the most controversial bands in history. The band was sued twice by California parents who claimed their daughter was murdered in a ritual inspired by Slayer’s music, yet both suits where dismissed (Considine). It also really frustrates the musicians who work so hard to make music, only to see themselves harmed because of it. As Lombardo says sarcastically, â€Å"If they take my drums away, I guess I can’t play any more. But I don’t see that happening, unless I’m living in a Communist culture. † (Considine). It also agitates the fans who feel that they are misconstrued and all used as inferior examples of what music can do to people. Slayer’s fanbase contains more MENSA members than any other metal band (Considine). At this point in time it is also safe to say that people know what they are getting into and what to expect from a band named Slayer. No, this is no band for virgin ears, but this does not give reason for it to be said that they immediately turn everyday human beings into monsters. Slayer knows that where they go, controversy will naturally follow, and this for years has been a successful marketing tool (Considine). Although Slayer is only one example, this idea spreads all the way to people trying to explain violence, and finding scapegoats throughout the media with similar attributes to metal. Also, violence in the media has often been exaggerated, and statistics are often inaccurate to the point where a consistent thesis is no longer possible. According to James K. Fitzpatrick, a former teacher at a Catholic school, his former students who listened to metal went on to lead successful, calm, lives, which in his opinion, proved that the lyrics of songs do not have long term effects on the listener. It also brings to mind exactly why kids in an environment like this would choose metal, when it is certainly not condoned or accepted. It can be inferred that they chose this because of the idea that it would offend adults and others in their lives. According to Fit zpatrick, perfectly normal kids listen to â€Å"shock rock†. There are certain types of kids who like being associated with music that offends some adults (Fitzpatrick). There is an emphasis with Fitzpatrick that lyrics are not detrimental to listeners in the long term and that they are in the end generally meaningless in the quality of a persons life. He states that â€Å"I have seen fans of other rock groups that caused great anxiety to parents in the 1980s†¦mature in a similar way. † (Fitzpatrick) Another reason for the explanation of why violence is often exaggerated can be the fact that violence is so often overstated since we see so little of it. As Rhodes said ‘we live in one of the least violent eras in peacetime history’†(O’Hehir 32). Our society has surely changed in the way we view violence since we are exposed to so little of it. Out society has also changed because of the way we deal with violence. It used to be that we ensured we avoided it all times. Now it seems like we almost react positiv ely to certain types of violence. By viewing violent entertainment individuals will leave with pent up tendencies gone, and anger released (Sparks 115). It seems as though times are truly changing and that in fact violent lyrics do not make mad men, and violence can in fact do some good for certain people. Next, is the fact that metal music is often scapegoated for events where people’s emotions run high, and accusations fly because people feel a need to know a reason. Metal is often first blamed but a majority of these claims are false and without proof. A majority of these claims stating that metal lyrics lead to long term mental problems have been biased, in-conclusive, or accurate. As Harvard physiologist Steven Pinker wrote, â€Å"Media violence research has been flawed and in-conclusive at best, and a great funding scam at worst. † (O’Hehir 25). These claims are strong, and his claims have been backed up by other sources fighting against the claims of others. MIT Professor Henry Jenkins observed that the idea that violent entertainment had consistent and predictable effects on viewers was â€Å"inadequate and simplistic. † (O’Hehir 27). Another reason for the increased blame put on metal is the rise of the digital age, and with it the rise in metal music videos and horror movies. Some would go as far to say that these videos alter the mind producing a mentally unstable person. Yet, as others would claim, media depictions of violence are inherently attractive to the masses, only truly affecting a few people, and are never the sole reason for any mental instability. This is called the Aesthetic Theory of Vandalism or The Aesthetic Theory of Destruction. The theory states that the same things that account for the enjoyment associated with socially acceptable experiences are similarly responsible for the pleasure associated with acts of destruction. Not to mention the fact that from what limited televised media there was in the 1950s and 1960s, a majority of it was uncensored, and unregulated. 50s TV was profoundly routed in guns and gunfire, to a degree that would provoke outspread outrage today (O’Hehir 31). The explanations for blaming metal are not true and barely factually based. Furthermore, metal does not have an affect on the mental stability of a listener, and the there have yet to be a definitive solution to explain that it does. In short, it becomes apparent that there is no correlation between metal and violent behavior, and in fact anger can released when listening to metal. It is also true that metal being blamed for social problems can be generalized into the topic of media violence being blown out of proportion when in fact, our society is generally less violent and more regulated than in previous generations. The question becomes, what can be done about it? The gap between the fans of metal and those against it has always been a large gap, and one that has rarely attempted to be bridged. First, it takes understanding that it is not okay to generalize fans and bands into a group of â€Å"evil† people, and understand also that a majority of the listeners understand that indeed the music they listen to is offensive, and that they enjoy that aspect of it. Certain people who want to listen to this music will, and if they like it, obviously they will continue (Fitzpatrick). It is also important to truly know the person, and never assume that something like listening to a genre of music immediately translates into a personality characteristic or flaw. People like violent in your face things in spite of, not because of, violence only in rare circumstances where the media itself is too good for the violence to negatively affect the experience. † (Sparks 115). When debating the human psyche it is important not to let emotions, biases and judgments interfere with rationale. It is important to listen, and look at facts, proof, and remember that those who appear like a â€Å"metalhead† would, are very different people than you may think. How to cite Why Metal Music Does Not Create Violence in Teenagers, Papers

Auditing Concepts Accounting Theory and Application

Question: Discuss about the Auditing Concepts for Accounting Theory and Application. Answer: Introduction The study elucidates aspects of positive or renders scientific approach aligning with accounting research. In other words, focus has been given on defining the major objectives pertaining towards human behavior causes and making the necessary accounting settings. The study is based on an article titled as Half a Defense of Positive Accounting Research (Dunmore 2011). This article explains the set of ontological and epistemological assumptions needed for scientific research for viewing at the feasibility aspects for intellectual projects. This is in regard with certain assumptions that turns out to be wrong, illogical or sometimes absurd in some cases (Watts and Zimmerman 2013). The present segment explains positive research in accounting especially at the time of defensive activities. In some cases, accounting becomes defensible in nature and hard to manage in the upcoming financial year. Therefore, the study enhances in gaining understanding over the level of progress and logics by using the data collection methods such as Qualitative and Quantitative Research (Wolk and Tearney 2012). Summary of the Article This study is based on an article titled as Half a Defense of Positive Accounting Research. The article aims at explain the auditing concepts rendering typical good work. This illustrates on how far practices falls short especially in case of Popper prescriptions (Warfield, Wild and Wild 2013). On the contrary, the article is summarized whereby qualitative researchers make use of theories and conduct hypothesis for testing purposes. It requires underpinning the observational findings aligning with the accounting research. Quantitative Researchers aims at conducting hypothesis testing that is less rigorous after comparing it with Popper prescription. It is combined featuring the detection of actual incorrect hypothesis by the quantitative researchers (Thomas 2014). On summarizing the article, it has been argued that both qualitative and quantitative research methods used for signifying much of a confidence after accepting the observational findings and mistaken ideas correctly. The un derlying success lies in the concept of positive accounting after understanding the artifacts of operations for setting the low standards. In Kuhn description, it is mentioned regarding the normal sciences that fit the major purpose of positive accounting research after comparing it with traditional sciences (Sorter 2014). Therefore, a final prospect explains the underlying fact when Kuhnian crisis as well as resolution takes place by way of explaining the positive accounting. Suggestions are made for rendering practical acts of resistance depending upon the existing system like bringing change in upcoming years. Summarizing the article elucidates discussing upon Kuhnian crisis and revolutionary aspects concerning liberation of positive accounting research for achieving high level of potential advantage (Mautz and Sharaf 2013). Henceforth, there will be many cases offered especially in practical acts of resistance depending upon existing system for bringing change management. This u ndertakes the prospects as discussed regarding Kuhnian crisis and revolution after liberation of positive accounting research in achieving the high level of potential (Scott 2013). It is important to claim the fact whereby Positive Accounting Theory is taken as broader sense concerned with research programs for developmental aspects in causal explanations of human behavior. In other words, this accounting setting compares with PAT existence in accounting research (Schroeder, Clark and Cathey 2012). Therefore, the study summarizes aspects of ontology and epistemology for investigative the programs. Some of the common problems mentioned include casual construction of theoretical models in order to test undue reliance considering hypothesis logics. This reveals lack of interest as presented in the numerical values of parameters and facing insufficient replication. It means gaining proper level of confidence after considering accepted findings as well as use of theoretical approach after examining qualitative data. As far as positive research in accounting is concerned, it deals with examining the large attributes for capabilities in achieving scientific objectives . Furthermore, Kuhn Description explains normal sciences that fit positive accounting research in the most appropriate way (Milne, 2012). After summarizing the article, it has been noted that positive approach explains the concept of accounting research (Mautz and Sharaf 2013). Addition to that, Positive accounting research aims at considering major part of wider intellectual projects especially for scientific research after gaining understanding for cause as well as effect relationship. This means describing the streaming critical accounting research that falls after defining the subject towards critical arguments. This means setting of accounting aspects that causes human behavior in multinational organization (Warfield, Wild and Wild 2013). It requires in undertaking face-to-face interaction after replacing less personal or personal systems in the final decision-making process. Therefore, it means understanding the aspect of importance and deficiencies of positive accounting research especially for wider intellectual projects. It means aligning the concepts based upon ontological as well as epistemological assumptio ns (Mathews and Perera 2014). Research Question Explain the concept of Positive Accounting Research used in accounting. Explain how positive accounting concept can develop causal relationship of human behavior. How Kuhn Description does explains normal sciences concerned with accounting research? Theoretical Framework According to Dunmore (2011), empirical question explains comprehensive causal theories of human behavior and limiting the theory application. Addition to that, there are given extensive areas specifies situation of actions of people in order to offer interpretive research. It means aligning positive, epistemology and ontology in explaining the theories. This means researchers aims at observing imperfections as modified in the social world after constructing potential actions (Littleton and Zimmerman 2012). As rightly put forward by Deegan (2013), scientific research considers data collection that can be either quantitative or qualitative. Some of the theories suggest accumulated data after showing the induction process based on certain assumptions. It means considering some logical support evidence from the acceptance theories as understood by Popper. Addition to that, there occur certain testing predictions of new theories by implementing new observations in certain situations. It means considering old and new theories and forming innovative predictions at the same time (Gray, Owen and Adams 2014). As opined by Dunmore (2011), Popper suggests new theories based on observed regularities as well as proved observations. It takes into consideration inductive observation especially for pure creative and imaginative process especially in empirical data. Addition to that, it includes testing of two theories n case of single theory concern. Therefore, it is argued that falsification means considering inoperable assumptions based on theoretical predictions. Therefore, theories are considered after falsification of anomalous tracks of Pioneer 10 and 11 spacecraft (Wolk and Tearney 2012). As rightly put forward by (Dunmore (2011) there are many science that influences different scale of parameters ranging from macro to mid-range activities in a given situation. Addition to that, it requires testing the descriptions like cause and effect relationship after considering understanding of accounting aspects. It should be kept in consideration involving qualitative sciences such as botany, geology and zoology as developed by Darwin theory of evolution. It was one of the common mistakes especially in social sciences after assuming quantitative research (Mautz and Sharaf 2013) According to Dunmore (2011), there are major two distinct purpose used for undertaking qualitative research by the researcher. Addition to that, it means collection of data for assisting ways in order to develop preliminary understanding of major phenomenon at the time of attempting quantitative measurement. In other words, it requires sorting out questions from positive context of audit pricing research (Warfield, Wild and Wild 2013). The current study focus on regression analysis for understanding the auditor pricing as presented in the audit report. Therefore, it means data gathering aspects after determination of tender bid, differentiating behavioral pattern, and presenting strategies adopted by audit partners (Wolk and Tearney 2012). Significance and Limitations of the article The major significance of the article is written in the version of Popper Logic. In other words, it requires measuring the test statistics used for viewing at the certainty as well as incompatibility of concepts from null hypothesis (Warfield, Wild and Wild 2013). It requires eliminating shifting of conventional significance for threshold attributes by keeping p as 0.00001. Therefore, it requires considering re-attribution of true positives after accepting statistical findings at the time of demanding for gaining stronger evidence. On the contrary, it has been noted that there are mainly two distinct motives behind replicating previous studies like determination of whether original results views at the sampling error. Addition to that, it explores limits for application of previous findings for future analysis purpose. Several significant factors are mentioned in the article used for hypothesis testing. It mentions literature aspects ranging with 1% to 5% after looking at the statistical issues. It requires viewing at the significant levels of misstated figures of regression specifications after publishing the specification. Authors aim at working diligently for trying out the alternative proxies and functional forms based on econometric assumptions. There are some of the non-significant data resulting from false positives after comparing replicating the work (Mautz and Sharaf 2013). There are various motivation concepts designing after replicating the study in a way by accepting samples. This means undertaking same proxies after taking the functional forms and satisfying the econometric assumptions for data collection process by using alternative specifications. It aims at focusing on attributes for testing the level of significance widely depending upon the sample size and residual variance at the same time (Warfield, Wild and Wild 2013). As far as limitations of the study are concerned, it requires huge improvement by the researchers for future scope of research. At times, it can be termed as a disappointing process at the time of conducting positive accounting research while directing towards the consequences (Mautz and Sharaf 2013). It takes into consideration aspects on ad hoc basis like implementing quantitative models after maintaining relationship between the two variables. There are various models used for actual analytical research in well-structured way. This requires extreme measuring the concepts in given subsequent studies after comparing it with re-invention of measurement. In other words, reliable audit measurement concerns with high level of complexity for estimating the parameters (Wolk and Tearney 2012). Conclusion From the above discussion, it can be understood that the article examines the aspects related to ontology and epistemology. In other words, it is regard with understanding the concept of current policies of accounting research as used for operating research programs. The current segment explains implementation of better theoretical models for detailed testing that is highly specified as well as vulnerable in nature. It requires better measurement techniques that should be rigorously tested after conducting theoretical models. Therefore, concepts explain careful implementation of making proxies for establishing reliable relationships. It means selection of correct functional forms of linear relationship between unique concepts. Reference List Deegan, C., 2013.Financial accounting theory. McGraw-Hill Education Australia. Dunmore, P.V., 2011. Half a Defence of Positive Accounting Research.Available at SSRN 1955419. Gray, R., Owen, D. and Adams, C., 2014.Accounting accountability: changes and challenges in corporate social and environmental reporting. Prentice Hall. Littleton, A.C. and Zimmerman, V.K., 2012.Accounting theory, continuity and change. Prentice-Hall. Mathews, M.R. and Perera, M.H.B., 2014.Accounting theory development. Nelson. Mautz, R.K. and Sharaf, H.A., 2013.The philosophy of auditing(No. 6). American Accounting Association. Milne, M.J., 2012. Positive accounting theory, political costs and social disclosure analyses: A critical look.Critical perspectives on accounting,13(3), pp.369-395. Schroeder, R.G., Clark, M.W. and Cathey, J.M., 2012.Financial accounting theory and analysis: text and cases. John Wiley and Sons. Scott, W.R., 2013.Financial accounting theory(Vol. 2, No. 0, p. 0). Upper Saddle River, NJ: Prentice hall. Sorter, G.H., 2014. An" events" approach to basic accounting theory.The Accounting Review,44(1), pp.12-19. Thomas, A.L., 2014.The allocation problem in financial accounting theory(No. 9). American Accounting Association. Warfield, T.D., Wild, J.J. and Wild, K.L., 2013. Managerial ownership, accounting choices, and informativeness of earnings.Journal of accounting and economics,20(1), pp.61-91. Watts, R.L. and Zimmerman, J.L., 2013. Positive accounting theory: a ten year perspective.Accounting review, pp.131-156. Wolk, H.I. and Tearney, M.G., 2012.Accounting theory: A conceptual and institutional approach. Thomson South-Western.