Child Rearing in sixteenth century English Upper Classes Essay

Child-rearing was an evolving practice within the English upper class from the sixteenth through eighteenth centuries. A new adult view of children as mature, fragile and inherently good led to changes in the nursing, care, and discipline of English, aristocratic children. In the 16th century, much in accordance with the Puritan doctrine, children were seen as naturally evil beings (Doc 1). Proper and pious parents were responsible for instilling virtues and morals into their organically pagan children. However, the Stuart-run religious beliefs of the 17th century and the Anglican Church brought about a new and differing view of children. Offspring were effectively blank-slates and, left to their own devices, happy and benevolent (Doc 2, 3). The new society placed more blame on nurture, rather that nature, and these views led to drastic changes in how children were reared. In the 1500s and early 1600s, aristocratic mothers often hired, after giving birth, a wet nurse, a woman whose job it was to breast-feed the infant. Women craved separation from ungodly children, and felt the duty of breastfeeding was disgraceful. However, many mothers now saw the hiring of wet nurses morally reprehensible (Doc 5). In the late 17th and 18th centuries, parents now craved a closeness and bond with their children, often enhanced by breastfeeding (Doc 6, 7). Children and infants had garnered a better reputation, an parents now sought close and loving relationships with them (Doc 4). Furthermore, scientific changes brought a new adult view of child-rearing. Doctors now sought to care for an infant with a more tender and loving touch, and sought less to control it. In the 1500s, mothers often constricted the motion of their newborn by swaddling it tightly (Doc 8). New medical developments attributed fractures to this practice, and by the 1700s, it was long since obsolete (Doc 9). Also, the mental health of children was also taken into more account. Verbal abuse was looked down upon by members of the English aristocracy, and calling one’s child a dunce was no longer acceptable (Doc 14). The new consideration into the physical and mental health of a child changed the way children were taken care of. Finally, these changing adult policies extended to the discipline or lack thereof of the English aristocratic child. In the late 1500s, to ensure perfection in a child, threats of physical punishment which often bordered on and became violent were prevalent within society (Doc 10, 11). However, beginning in the late 1500s and continuing for the next two centuries, it became less and less socially acceptable to physically and zealously punish ones child. Forms of physical punishment were now left to a rod or cane that was used in moderation, in specific areas, and was only used for the most egregious of mistakes (Doc 11). Some members of the aristocracy abandoned physical punishment altogether, instead relying on the encouragement of good behavior with rewards (Doc 12). However, this method of child-rearing often led to bratty behavior in children (Doc 13). In conclusion, the changes in nursing, child care and discipline are all symptoms of a greater change, one which had religious, scientific and social roots. The newly enlightened English aristocracy changed the way in reared its children and its future generation, and in thus doing, changed the future of England.

Why Did The Policies Of President Hoover Fail To Combat The Great Depression Effectively?

In October 1929, the USA was plunged into the sharpest recession to take place in American history. The period it lasted for became known as the Great Depression. Drastic action was required to fix the situation, and the first person people looked to was President Hoover, who had unluckily took up presidency eight months before the Wall Street Crash. However, Hoover is known for his inability to sue federal powers to overcome the Depression quickly and effectively. Some recent historians have been more sympathetic towards Hoover because they believe he was a victim of both his own mindset and of one of the most difficult to solve crises in American history. But most believe it was his political beliefs and policies that stopped him fight the Depression successfully. Hoover's main trouble was that he was not willing for direct government to take place. His two central policies were self-help and voluntary co-operation. His continued belief in these represented his continued belief that the economy had to right itself and that changes he made would not help – â€Å"Economic depression cannot be cured by legislative action or executive pronouncement†. Indeed, Hoover knew that the government was urgently required to take action but the action he was willing to take was not nearly enough to deal with the depth of the Depression, as shown through eight different areas of the Depression federal government policies were made on. These were agriculture, tariffs, repudiation of war debts, voluntarism, unemployment relief, Federal Home Loan Bank Act, Reconstruction Finance Corporation (RFC) and war veterans and the ‘Bonus Army'. The legislation passed in all of these areas was a failure, which lost Hoover all credibility. The Agricultural Marketing Act was passed in 1929, creating a nine-person Federal Farm Board with funds of $500 million to create ‘stabilisation corps', and the crops created were eventually bought back at higher prices. The agricultural policy failed for two reasons: firstly because it paid US farmers artificially high prices and could not continue in the long term; secondly because it treated agriculture as a domestic, not foreign, issue. Cheap foreign imports became a problem, and the answer appeared to be even higher tariffs. In June 1930, the Hawley-Smoot tariff was enforced – and was the highest in US history. Its result was most European nations abandoning free trade. Hoover could have vetoed the bill but chose not to. In the repudiation of war debts, Hoover blamed the Depression on Europe, though the situation was in fact vice versa. Europe could not afford to pay back war debts, and international trades decreased. Countries worldwide were in a more depressed state, again a negative result. Hoover placed the onus of improving the situation onto the businesses rather than the government. He told businessmen not to cut their workforces or wages but to maintain output and encourage buying. As the depression worsened, however, they could not afford to do this. Workers were fired and wages reduced, raising unemployment levels. So, Hoover then secured $500 million in 1932 from Congress to use as unemployment relief, but the amount simply wasn't enough. He also set up the President's Emergency Committee for Employment to help agencies organise efforts, but still refused to help directly because of his self-help policies. An example of this is during the 1930-31 drought, which was so severe it led to almost starvation in the South. Congress gave $47 million to be offered as loans, but Hoover still didn't want to give direct relief. He didn't believe in giving out benefits. So unemployment relief was another failed attempt by Hoover to fight the Depression. The Federal Home Lon Bank Act was passed in July 1932, and was Hoover's attempt to save mortgages. A series of Federal Home Loan banks were set up to help loan associations providing mortgages. However, they only lent 50% of the property value. The Act failed and was largely ineffective, and homes were repossessed. The Reconstruction Finance Corporation (RFC) was Hoover's most radical measure to overcome the Depression and the precursor to the New Deal initiatives of Franklin Delano Roosevelt. The RFC was established in January 1932 and could lend up to $2 billion to stabilise banks, insurance companies, railroads and construction companies that were suffering. It was a measure taken to restore confidence. The loans, however, were given mainly to big banks and larger companies. The RFC eventually failed because it was giving too little too late. By this time, Hoover's credibility was severely damaged, but the nail in the coffin was yet to come – the treatment of the Bonus Army, which portrayed him as cold and cruel. In 1925, Congress agreed to give veterans of WW1a ‘bonus' to be paid in 1945. In June 1932, 20,000 war veterans marched to Washington to request their bonus early in order to survive the Depression. They were told that the government could not afford to pay them, but Hoover would pay for their trip home. Feeling betrayed, the veterans set up camp. Hoover feared violence, to the extent of revolution, and called in the military. Tanks, infantry and tear gas destroyed the camp and drove away the veterans. These men who had served their country were called â€Å"tramps and hoodlums with a generous sprinkling of Communist agitators†. Hoover was solely blamed for the dispersal of the Bonus Army, which was a major political blunder. By now, the people of America had turned away from Hoover and were looking for answers elsewhere – Franklin Delano Roosevelt. Already popular as Governor of New York State, Roosevelt appealed to the US people because he proposed to take the action that Hoover would not and showed flexibility. Through his time as Governor, Roosevelt showed his willingness to listen to others' ideas and his belief that direct government intervention was necessary. An example of his flexibility is the Temporary Emergency Relief Administration, set up in 1932. Though it was temporary, it was the first state-run relief effort in the nation. In comparison, Hoover refused to hear ideas remotely associated with government intervention. However, some historians argue that Hoover did in fact involve the government in more areas of life than ever before, for example the expansion of federal lending and the encouragement of public works' schemes. Hoover had a personal concern for those suffering the Depression. He cut his own and state officials' salaries by 20% and had long working hours. On the other hand, he showed optimism in public, which led people to accuse him of losing touch with reality. Although Hoover worked tirelessly to fight the Depression, his refusal to abandon his policies of self-help and voluntary co-operation prevented him from doing so successfully. In conclusion, President Hoover's policies failed to combat the Great Depression effectively because the help they provided were very limited in the extent the Depression had gone to. Because of his beliefs in self-help and voluntary co-operation he blocked direct government intervention from his policies, driving away supporters towards Roosevelt, who won the elections of 1932 and began his ‘New deal'.

Assumption Paper Essay Example | Topics and Well Written Essays - 500 words

Assumption Paper - Essay Example (Whitney, 2002) Antitheist perspective explains that a supreme, self aware, and benevolent being called God does not exist at all. Polytheism and atheism can also be included under this term. It is not very difficult to tolerantly deal with evil and even to submit to it if we develop an antitheist view. This is because that at least in the Christian world view, God is a self existent, loving, and benevolent being (Brown and Phillips, 1996); but antitheism denies a God altogether. This doesn’t mean that they cannot have their own deity. And when this deity is presented before the masses in a terrorist and unethical manner, evil is born. So, existence of evil in this world might be nothing unexpected in the view of an antitheist. A pantheist may not deny the existence of a God (or one and only one God), but according to him/her, God might not be benevolent and loving. God is all penetrating, pervasive, and understand, and evil exists because of His impervious being. (Brown and Phillips, 1996) Such a tremendously apathy generating representation may explain evil as another creation of God. Hence, staunch pantheists may hold that evil, although is a problem, cannot be avoided and should not be avoided. Rather, humans should be prepared to fight and ward off the evil. Agnostic perspective is very much reason based. It is based on the difference between belief and knowledge. Hence, an agnostic person must be inquisitive and may not take anything for granted. Brown and Phillips (1996) believe that agnostic view is a kind of middle path. Therefore, a strict agnostic must find out what is evil and what is its relationship with God in the case God exists. In the view of an event like the collapse of Twin Towers, agnostic perspective might handle the issue by a comparative analysis of both the theist and antitheist paths. Since according to the

What role does smoking prevention play in adolescence before adulthood Research Paper

What role does smoking prevention play in adolescence before adulthood and addiction to smoking - Research Paper Example A better understanding of factors associated with adolescent readiness to quit smoking prior to receiving any intervention may provide guidance when tailoring future MI interventions to increase their effectiveness with this population. Proposing of this study was to examine if the majority of adolescents believed that smokers agreed and felt that smoking was addictive and may cause death. All seemed of the opinion that this was for most people who are smoking. When nailing down the optimism viewpoint that adolescents were equally of the opinion that they would not die from smoking. Nonsmokers were of the opinion they would die from smoking. Overwhelming, the adolescents who did not smoke thought that the people who smoked for 30 to 40 years would die from smoking. Most of the people questioned believed they could smoke for a certain number of years and quit. Adolescents agree that smoking was addictive. What role does smoking prevention play in adolescence before adulthood and addic tion to smoking? 1. Rationale Preventing smoking and to help adolescents quit smoking have been met with limited success. This is a preventable disease. Smoking is the number one cause of death in the United States. The purpose of the study was to show that there remains a great deal of optimism when visiting with adolescences while they filled questionnaires (Apodaca, 2003). Smokers are more optimistic about not dying from smoking behaviors than non-smokers. The hypothesis would state, does motivational interviewing (MI) tailoring future MI interventions to increase their effectiveness with this adolescence population in the role of smoking prevention. In the health care field, nurses are much in demand. Nurses compared to doctors are about four to one. Nurses continue to contribute to critical inpatient care. They are in demand in outpatient care, central to palliative, hospice, home, and long-term institutions (AMA, 2009). The general purpose of nursing is to deliver excellent ca re to each patient through the management of resources and to maintain a professional work environment. The purpose of nursing is also to maintain a professional work environment that ensures the nursing association is competent and has a high satisfaction rate. This plays right into the necessity that nurses will experience diseases from smoking and that smoking prevention plays an important role to adolescence behavior (AMA, 2009). Prevention of illness and promotion of health always have been important to the nursing profession. A recent Gallop Organization reported that Americans rate nurses at the top of that professional list (Gallop, 2009). Florence Nightingale saw as far back as 1859 that nursing consisted of those activities that put the patient in the best condition that nature can act upon that patient. The added goal of today can be to restore the patient's independence. Nurse's work has much to do with immunization, education, environmental safety and disease screening (White, 2010). Our hypothesis is nurses can assist with motivational interviewing (MI) tailoring future MI interventions in to increase their effectiveness with this adolescence population in the role of smoking prevention. Because the nursing organization must already perform five functions, it makes sense that a nurse would help with this provision of excellent adolescent patient care. Nursing also provides the bulk of patient and family education and much of the community health education. Therefore, motivational interviewing (MI) could be the first step in any intervention of the adolescence population in a brief smoking intervention in a hospital setting which adolescents

Unethical Business Research Practice Essay Example | Topics and Well Written Essays - 750 words

Unethical Business Research Practice - Essay Example Unethical Business Research Practice The application of moral and ethical principles sin business is vital for organizational success. Background to the Trovan Case In 1996, Nigeria encountered an outbreak of Cerebral Spinal meningitis, the worst public health crisis that the country has ever faced (Edwards par 1). During the crisis, 1500 people succumbed to the disease. A number of non-governmental organizations including Medecins Sans Frontieres (MSF) reached out to the people in need faced (Gupta par 1). The organization treated well over 11500 infected individuals. A few weeks following the outbreak, Pfizer, the world’s largest pharmaceutical company, sent its employees to conduct clinical trials with its newly developed brand of antibiotics Trovafloxacin (Trovan ®). Pfizer’s intention seemingly was upright. It sought to provide Nigeria with a life saving, cheap, innovative and less painful antibiotic to counter the dreadful disease. The company stated that the medicine could effectively treat mening ococcal meningitis in adults and children. The company engaged a sample of the affected population in a study, featuring about 200 children (Gupta par 2). During the study 50% of the children sampled were treated with Trovafloxacin while the rest were treated with Ceftriaxon, the ‘best practice medication’. The study saw the death of 11 children, members of the study group. Several others suffered physical and mental disorders in the course of or after receiving treatment. What Unethical Research Behavior was involved? Pfizer in seeking to find a solution to the problem facing Nigeria, failed to observe crucial research requirements. For one, the organization did not pay attention to the issue of informed consent. The company involved a sample of children in the study without having their parents or guardians consent to their research activities. This for a fact goes against ethical standards when carrying out studies that involve children or people who are mentally ret arded. Who Were the Injured Parties? In the Trovan case, the injured persons were the children who were subjected to the clinical trials without parental (and guardian) consent. All the children who were included in the study, in this respect suffered injury although those who received the â€Å"best practice† medicine may not have suffered physically or mentally. Effects of the Unethical Behavior on the Organization, the Individual, and Society As previously noted, the Pfizer study resulted in the death of 11 children. Many other children suffered physical and mental disorders following the study. Parents and relatives to the children suffered great loss having lost their loved ones. Others possibly incurred more medical costs and suffered psychologically from the results of the study. Pfizer as a company on the other hand has suffered loss in respect of the litigation. The Nigerian government launched a suit against Pfizer claiming a total of seven billion US dollars (Edwar ds par 1). This amount is demanded in compensation for the victims and their relatives. The company is bound to lose a lot of cash after the case, pending in court to-date, is concluded. Yet again, the company’s reputation was negatively affected with many customers losing favour with the company. In fact, the drug has been banned in Europe and is restrictively used in North America. How Could the Unethical Behavior be Avoided or Resolved? The damage caused to the children and their relatives related mainly to lack of informed conse

Perfect Competition and Long-run Equilibrium Term Paper

Perfect Competition and Long-run Equilibrium - Term Paper Example Basically, in a market of perfect competition does not give monopoly to a single company. A single firm or company does not rule over the whole market as many firms are producing the same products. Thus one single firm is not able to determine the prices of products. A market with perfect competition would have many suppliers, producers and consumers because of the different firms involved in such a market. The perfect competition involves many sellers or firms and thus it cannot be found to be very common in this world. In perfect competition it is not difficult for the new firms to enter, thus it is seen that many sellers are involved in this type of competition. The reason for this is that the firms do not have to have a huge capital to enter this competition and they can seek help from many individuals when entering in this sector. Moreover not only is it easy to enter the perfectly competitive market but also it is easy to exit such a market. The transactions which are made in t his type of competition do not cost anything to the buyers or sellers. In such a type of competition, it is aimed that the firms maximize their profits by selling their products where the marginal costs and marginal revenue are in equilibrium. The most important characteristic of such a competition is that the products which are being sold are usually manufactured by many companies thus strong competition is felt in this type of competition. An example of perfect competition is a group of fruit vendors who are selling the same fruits.

Critiquing Business Plan In Emerging Market.Businesses In Brazil Assignment

Critiquing Business Plan In Emerging Market.Businesses In Brazil - Assignment Example There are cases and instances that governments try to come to the aid of some of these entrepreneurs by use of favorable macro and micro economic policies. This notwithstanding, not all of these policies have eliminated the barriers. Interesting, studies have even confirmed that most economic policies put in place by the Brazilian central government also turn round to be barriers for most entrepreneurs seeking to start up new businesses especially those in the oil and gas sector, of which the biodiesel industry is part (Gartner, 1985). In this critique paper for a business plan that is ready for implementation of a biodiesel startup company in Brazil, the various barriers that may possibly exist and methods that can be used to mitigate each of these barriers are outlined. Licensing The licensing of company system that exists in Brazil could serve as a major barrier to both the entry and growth of the new biodiesel company intended for Brazil. This is because there are licensing regul ations, which have been criticized by most economists and market players as being investor hostile. Unfortunately, such hostility exists in cases that the government feels that the coming of certain companies may be a major competition for existing and known state corporations (Ivanova, 2009). A typical example of this is in the area of energy, where even though there is an open market, the state still practices a casual monopoly, trying to prevent private participation. As part of the casual monopoly strategy, private individuals are made to undergo several routine processes in getting license to operate (Krasniqi, 2007). Meanwhile, the possession of a license to make the commencement of business in Brazil is very important as it opens the avenue for such companies to benefit and enjoy trade incentives that may exist. What is more, in order to have an international reputation and open one’s business up for international investment and other forms of business expansion option s such as enlistment on the Brazilian Stock Exchange, license registration is demanded. A method to overcome this barrier would be to first enter the market as a partner to an existing registered local company. This way, the company will not be given the kind of hostile treatment given to expatriate companies. After some time when there is a separation in the ownership of the company, the license of the original company will over both separated companies if there was ownership up to a certain number of years. Lending and Credit bias in favor of multinationals Access to money for entrepreneurs remains a major barrier to growth for most new entrants in Brazil. This is because there is a form of lending and credit bias that favors existing and well established international and multinational companies as against new entrants and small and medium scale businesses in Brazil (Foley, 2003). Commonly, the financial institutions, most of which are banks try to justify some of these biases by explaining that new entrants and small and medium scale companies lack credit credibility. What this means is that they are not tried and tested in their finances such that they can be trusted with huge sums of credit. In most cases therefore, there is a limitation on the amount of money that can borrowed by these new entrants. Where there are no limitations on the quantum of money that can be borrowed, there are strict lending processes that delay

The Externalities of Education Essay Example | Topics and Well Written Essays - 500 words - 1

The Externalities of Education - Essay Example This creates a platform for businesses to hire more employees to work and meet customer’s needs. The second externality is social-cultural diversity. It is worth noting that, in public people learn how to interact with others as they are people from different backgrounds, cultures, and races. Public education helps one to interact with other people and this carried over to work force where one becomes friendly, tolerant, and understanding to different people. The last positive externality of public education is that it creates better work force. A better work force comes from excellence education whether private or public. Quality education produces better work force especially in the technological world of the 21st Century. With public education, people are equipped to handle demanding jobs, be in demand, and likely further education after high school. In support of existence of public k-12 school systems, schooling is free for all students, which become proficient for people from poor backgrounds. As discussed earlier, in public school socio-cultural diversity and education can be acquired in various ways such as home schooling, online school, charter school, and school building. With online, home, and virtual schooling, there are many options of subjects and curriculum. In this way, one can acquire quality education at a lower cost than that of private school. According to National Education Association of the United States (1984), public schools have charter schools that help students learn the trade and this shapes them to face the real world of trading and make a living from it or further studies. Since public school comprises of a varied student body, students become more sociable which equip them to tolerate different personalities. In reality, the real world comprises of people from different cultures, ethnicities, races, and backgrounds. Strong social skills enable an

White Privilege Essay Example for Free

White Privilege Essay What is white privilege? It is important that white privilege be defined because the majority of whites want to deny that it exists at all, especially in response to assertions of people of color that it exists unjustly and should be dismantled. The denial of its existence by whites is racialized. People of color say white people enjoy white privilege while white people deny, as often as possible, that they have it and that such a privilege exists. White privilege is defined (Clark, 2005), as (1a) a right, advantage, or immunity granted to or enjoyed by white persons beyond the common advantage of allWhat is white privilege? It is important that white privilege be defined because the majority of whites want to deny that it exists at all, especially in response to assertions of people of color that it exists unjustly and should be dismantled. The denial of its existence by whites is racialized. People of color say white people enjoy white privilege while white people deny, as often as possible, that they have it and that such a privilege exists. White privilege is defined (Clark, 2005), as (1a) a right, advantage, or immunity granted to or enjoyed by white persons beyond the common advantage of all others; an exemption in many particular cases from certain burdens or liabilities. (b) A special advantage or benefit of white persons; with reference to divine dispensations, natural advantages, gifts of fortune, genetic endowments, social relations, etc. (2a) A privileged position; the possession of an advantage white persons enjoy over non-white persons. (3a) The special right or immunity attaching to white persons as a social relation; prerogative. (b) Display of white privilege, a social expression of a white person or persons demanding to be treated as a member or members of the socially privileged class. (4a) To authorize or license of white person or persons what is forbidden or wrong for non-whites; to justify, excuse. (b) To give white persons special freedom or immunity from some liability or burden to which non-white persons are subject; to exempt. While many whites seem to think and believe that the notion of racial preference originated with affirmative action programs, intended to expand opportunities for historically marginalized people of color, racial preference has had a very long and very White Privilege 3 white history. Even if most whites were willing to acknowledge the existence of white privilege they would likely have no explanation for the privileges afforded them every minute of every day of their lives. They simply take it for granted. Affirmative action was the guiding principle of segregation for most whites. It was used to motivate racially restrictive housing policies while people of color were excluded from the same programs. It is hardly an exaggeration by people of color to say that white America is the biggest collective recipient of racial preference in the history of the universe. They have skewed our laws, shaped public policy and have helped to create the more obvious inequalities with which we live. According to (Bell, 1995), black people need reform of our civil rights strategies as badly as those in the law needed a new way to consider American jurisprudence prior to the advent of the Legal Realists. The debate about racism in America revolves around achieving diversity. Focusing on diversity means that questions of history and power go unasked and unanswered. Without an understanding of the history of racism in America, and the enduring imbalances of power, wealth, status and privilege, further progress toward racial justice is unlikely (Allen, 1994). Racial oppression is a set of strategies for social exploitation (Allen, 2003). The institutions of slavery were established in order to secure benefits for white people at the expense of African slaves and their American born descendants. One way to think about the benefits of exploitations, according to (Berger, 1999), is in terms of racialized social privilege? patterns of social privilege and benefit, including exemptions from harm and burden, which accrue to racial groups at the expense of others. The short hand term for White Privilege 4 these patterns in American society is white privilege. Economic benefits are at the core of white privilege. The vast pool of labor provided by slavery, from which both Northern industrialists and Southern plantation owners benefited, is one of the founding sources of the American economy. African Americans continue to struggle with economic legacy of an unjust history. Poor and working class whites strongly object to the idea of white privilege, stating or pointing out what they consider the obvious, that not every white person has wealth and power. There are other benefits that accrue or come as a natural right to white people, including one which W. E. B. DuBois called the psychological wages of whiteness. (Williams, 2004) This refers to that age old membership in the privileged group, even for whites on the bottom rung, confers a social status and recognition which is denied to all but the most powerful members of oppressed groups. The history of racial oppression in American is not disputed. However, what is disputed is whether and to what extent, four hundred (400) years of oppression continues to harm African Americans and other minorities and their life chances unjustly; and conversely, whether that history of oppression continues to benefit white Americans unjustly. Systems of oppression are not established unless they are a means of benefit. There is no reason for people of color to believe that social institutions and power structures no longer dispense benefits and harms racially. When we examine the way benefits and harms are apportioned in the U. S. , including wealth, income, equality of our court system, treatment from the police, access to colleges, universities and even the political symbolism of state flags, what we see are White Privilege 5 exercises and expressions of white privilege. As a group, white people have more income, wealth, political representation, status, power, and social reinforces of their human dignity and self respect than any group in America. If history is any guide, expecting white America to voluntarily open the corridors of power to people of color aintt gonna happen. These privileges have been enjoyed by white people unjustly. The struggle by people of color to obtain freedom, justice and dignity is as old as this nation, and racial equality, unfortunately, is not a realistic goal.

Analysis and critique of Madeleine Leininger

Analysis and critique of Madeleine Leininger Introduction This paper is an analysis and critique of a published nursing philosophy and theory by the nurse theorist Madeleine Leininger. The analysis is based on Leiningers publications about her theory starting in the mid-1950s with her major contribution stemming from her second book, Transcultural Nursing: Concepts, Theories, Research, and Practice in 1978. The model used to analyze this theory is the Chinn and Kramer model. This model was developed by Peggy Chinn and Maenoa Kramer in 1983. The model utilizes a two-step process to evaluate theories called theory description and critical reflection. Theory description consists of purpose, concepts, definitions, relationships, structure, and assumptions. Critical reflection analyzes the purpose of the theory utilizing a series of questions. (McEwen Willis, 2010, p. 95) This model will be used to critique one of the oldest theories in nursing. Purpose Transcultural Nursing Theory discovers and explains the culturally based care factors that influence health, well-being, illness, and death of each individual or community. The purpose and goal of the transcultural nursing theory is to provide culturally congruent, safe, and meaningful care to clients of diverse or similar cultures. (Leininger, 2002, p. 190) Leininger has established a theory that studies cultures to understand their differences and similarities. Cultural competence is important within the nursing profession due to the differences in each individuals perception of illness and wellness. Congruency between culture and health care is essential to the well-being of each individual and community. An individuals health beliefs and practices are linked by his/her culture. The culture care theory focuses on cultural beliefs and practices when determining a plan of care. It continues with the belief that nurses need to consider that not all cultures are similar, and there are variations within each culture. Each individual or community should be treated differently from the rest and that personal uniqueness should always be considered. This belief stems from Leiningers personal belief in Gods creative and caring ways. (Leininger, 2002, p. 190) Concepts Definitions Transcultural theory uses the concepts of culture, race, and ethnicity to understand human behavior. When providing culturally competent care nurses should understand the meaning of these terms. Leininger also focuses on a few other concepts such as cultural competence, cultural awareness, and acculturation. Leiningers theory focuses on numerous concepts, but these were selected based on the importance of nurses integrating the most basic concepts of transcultural nursing into their well-established knowledge base. Culture influences all spheres of human life. It defines health, illness, and the search for relief from disease or distress. With increased mobilization of people across geographical and national borders, multicultural trends are emerging in many countries. (Ayonrinde, 2003, p. 233) Culture is defined as a set of beliefs, values, and assumptions about life that are widely held among a group of people and that are transmitted across generations. (Leininger McFarland, 2002 , p. 47) Burchum (2002) defines culture as a learned world viewà ¢Ã¢â€š ¬Ã‚ ¦shared by a population or group and transmitted socially that influences values, beliefs, customs, and behaviors, and is reflected in the language, dress, food, materials, and social institutions of a group (Burchum, 2002, p. 7) All cultures are not alike, and all individuals within a culture are not alike. Each person should be viewed as a unique human being with differences that are respected. Individuals may be of the same race, but of different cultures. Race is defined as a social classification that relies on physical markers such as skin color to identify group membership. (Leininger McFarland, 2002, p. 75) Many nurses overlook cultural differences of individuals due to their similar racial characteristics. Race is considered one of the identifying characteristics of a culture, and this identifying characteristic represents an ethnicity. Ethnicity is defined as a cultural membership that is based on individuals sharing similar cultural patterns that, over time, create a common history that is resistant to change. (Leininger McFarland, 2002, p. 75) Cultural competence is an important factor in nursing. Culturally competent care is provided not only to individuals of racial or ethnic minority groups, but also to groups that vary by age, religion, socioeconomic status or sexual orientation. Cultural competence is defined as a combination of culturally congruent behaviors, practice attitudes, and policies that allow nurses to work effectively in cross cultural situations. (Leininger McFarland, 2002, p. 78) Religious and cultural knowledge is important in the healthcare profession. It is also important that health care professionals assess their own beliefs and ask themselves how those beliefs may affect the care given to clients. The awareness of your own beliefs is called, cultural awareness, and is defined as self-awareness of ones own cultural background, biases, and differences. (Burchum, 2002) Not only must nurses be aware of their own beliefs, but also must be willing to learn and understand an individuals beliefs. The proc ess of learning a new culture is acculturation. Adapting to a new culture requires changes in each nurses practices. Relationships Structure The relationship and structure between the concepts in the culture care theory is presented in Leiningers sunrise model. (Figure 1) This model is viewed as rising sun and should be utilized as an available tool for nurses to use when conducting cultural assessments. This model interconnects Leiningers concepts and forms a structure that is usable in practice. This model provides a systematic way to identify the beliefs, values, meanings, and behaviors of people. The dimensions of the model include technological, religious, philosophic, kinship, social, values and lifeway, political, legal, economic, and educational factors. These factors influence the environment and language, which affects the overall health of the individual. Individuals who may not feel understood may delay seeking care or may withhold key information. Environment and language affect the overall health system which consists of the folk and professional health system. The folk health system consists of the traditio nal beliefs, while the professional health system consists of our learned knowledge such as organized school and evidenced-based practice. The combination of these systems creates the nursing profession which allows us to meet the cultural, spiritual, and physical needs of each individual. These factors help nurses understand the client and recognize what is unique about the client. This model helps each nurse avoid stereotyping an individual into a culture based on the minimal factors of race or ethnicity. (Leininger, 2002, p. 191) The last dimension of the model helps nurses establish culturally congruent care through the utilization of three concepts: culture care preservation/maintenance, culture care accommodation/negotiation, or culture care repatterning/restructuring. Cultural preservation means that the nurse supports and facilitates cultural interventions. (Burchum, 2002) Cultural interventions may include the use of acupuncture or acupressure for relief before utilizing standard practices/interventions. Cultural accommodation requires the nurse to support and facilitate cultural practices, such as the burial of placentas, as long as these practices are found not to be harmful to individuals or the surrounding community. (Burchum, 2002) Cultural repatterning requires the nurse to work one-on-one with an individual or community to the help them restructure, change, or modify their cultural practice. (Burchum, 2002) Cultural repatterning should only be used when the practice is found to harmful to an indi vidual or community. All of these factors and concepts guide the nurse towards their ultimate goal of providing culturally competent care. These factors and goals allow the nurse to fulfill the individuals need of having holistic and comprehensive culturally based care. Assumptions There are a number of theoretical premises for the cultural care theory. Leininger (2002) highlighted five important assumptions. The first is Care is the essence of nursing and a distinct, dominant, central, and unifying focus. (Leininger, 2002, p. 192) Nurses provide care with sensitivity and compassion. Cultural care theory requires nurses to provide that same care, but based on the cultural uniqueness of each individual. The second is Culturally based care (caring) is essential for well-being health, growth, survival, and in facing handicaps or death. (Leininger, 2002, p. 192) Non-culturally competent care may increase the cost of health care and decrease the opportunity for positive health outcomes. The third is Culturally based care is the most comprehensive, holistic, and particularistic means to know, explain, interpret, and predict beneficial congruent care practices. (Leininger, 2002, p. 192) Culturally competent nursing care is designed for a specific client, reflects the individuals beliefs and values, and is provided with sensitivity. The fourth is Culturally based caring is essential to curing and healing, as there can be no curing without caring, although caring can occur without curing. (Leininger, 2002, p. 192) Therefore, there is an increased need to recognize the impact of culture on health care and to learn about the culture of the individuals to whom your provide care. The last assumption is Culture care concepts, meanings, expressions, patterns, processes, an d structural forms vary transculturally, with diversities (differences) and some universalities (commonalities). (Leininger, 2002, p. 192) Nurses should be aware of cultural beliefs, cultural behaviors, and cultural differences and should avoid the temptation of premature generalizations. Following these assumptions of the cultural care theory allows nurses to be less judgmental and more accepting of cultures which promote holistic care for all cultures. Critical Reflection Culture Care Theory has played a significant role in nursing practice. The theory is highlights numerous concepts in which Leininger clearly defines and consistently utilizes in numerous publishings. The concepts in Leiningers theory are the gold standard for transcultural nursing and are mentioned in the majority of literature regarding culturally based care. The theory is complex with a number of concepts and interrelationships. The complexity is important as it develops a meaningful and comprehensive view of cultural and holistic based care. Leiningers theory has a high level of generality due to its ability broad to be applied to all cultures, ethnicities, and races. The key to Leiningers theory is communication, and even crosses languages and establishes how to eliminate language barriers, through the use of interpreters. The theory consistently approaches culturally based care by requiring the nurse to use cultural knowledge as well as specific skills when deciding nursing inte rventions and practices. The theory continues to be consistent in requiring the same approach by requiring the nurse to perform a cultural assessment. The assessment provides an understanding of an individual health perception which guides culturally appropriate interventions. Culture care theory is widely accessible as it is the major and most significant contributor to transcultural nursing. (Ayonrinde, 2003) Cultural care theory played and will continue to play a significant role in nursing practice, research and education. Healthy People 2020 goal is to eliminate health disparities among different populations based upon numerous factors. Nurses are the key in moving forward with eliminating these disparities. Todays environment is multicultural and the emphasis on providing culturally competent care has increased. The Culture Care theory is well established and it has been the most significant breakthrough in nursing and the health fields in the 20th century and will be in great er demand in the 21st century. (Leininger, 2002, p. 190)

lord of he flies :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  Over a month ago a tragic incident occurred that tested the unity of this country. Terrorist attacks tested the will power and the strength of all. On September 11th the Osama Bin Ladens of the world committed an evil act that attempted to destroy all. Americans were disturbed mostly because the people who committed these acts are human like the rest of us, meaning basically everyone is capable of causing such a disturbance. William Golding came to the same conclusion in his book Lord of the Flies. Throughout his novel, Lord of the Flies, Golding illustrates mans inhumanity to man.   Ã‚  Ã‚  Ã‚  Ã‚  Using conflict between characters, Golding shows how easy it can be for innocents to become evil. First of all, Roger throws stones at Henry. Henry plays on the beach quietly, and Roger hides behind the trees and chooses stones to throw at Henry. Henry never does anything to deserve it, but Roger throws them anyway. Golding writes, â€Å"This side and that the stones fell, and Henry turned obediently but always too late to see the stone in the air†(62). Roger shows cruelty to Henry and several other littluns. Jack also shows ruthlessness to other boys on the island. For example, Jack breaks Piggy’s glasses. As Piggy takes a step forward to talk to Jack, he smacks Piggy’s head. Piggy’s glasses fly off and shatter onto the rocks. This action makes one of his lenses break, which causes Piggy, blind in one eye. Jack does this out of pure evil in hopes of releasing his anger. At this part of the novel acts of evil increase in the boysâ€℠¢ actions.   Ã‚  Ã‚  Ã‚  Ã‚  Using conflict, Golding again attempts to demonstrate mans capability to lose sight of what’s important. The boys destroy their own friendships for no reason at all. Maurice kicks sand in Percivals’ eyes in hopes of harming him in some sort of way. Maurice does this out of pure anger, choosing to release his anger on Percival, who did nothing to deserve this. Maurice at the time was acting on his feelings: â€Å"†¦laughing, and add[ing] to the destructionâ€Å"( ). Jack also demonstrates the same kind of evil that Maurice does. Jack reacts on his feelings by punching Piggy out of pure jealousy. Piggy, was given the gift of intelligence, a gift Jack wishes he had. Jack then uses his insecurity to destroy Piggy’s self-image in hopes of boosting his own. Piggy does nothing but try and help out the boys by using his knowledge and sense of humanity, but the boys can’t simply deal with the fact that there is much more to Piggy than his appearance, and they show only cruelty to him.

The Theme of Prejudice in To Kill A Mockingbird :: Kill Mockingbird essays

   The theme of prejudice in To Kill A Mockingbird is much more than just a case of black and white. The entire novel is about prejudice in its' many forms, the most prominent case of prejudice is the hate between the blacks and whites. The whole town of Maycomb is based on stereotypes of it's inhabitants, that are passed down from generation to generation. Rumors run rampid and very little truth is usually in them.   Ã‚  Ã‚  Ã‚  Ã‚   "So Jem received most of his information from Miss Stephanie Crawford,   Ã‚  Ã‚  Ã‚   a neighbor scold, she said she knew the whole thing. According to   Ã‚  Ã‚  Ã‚   Miss Stephanie, Boo was sitting in the livingroom cutting some   Ã‚  Ã‚  Ã‚   items from The Maycomb Tribune to paste in his scrapbook. His father   Ã‚  Ã‚  Ã‚   entered the room. As Mr.Radley passed by, Boo drove the scissors   Ã‚  Ã‚  Ã‚   into his   parent's leg, pulled them out, wiped them on his pants,   Ã‚  Ã‚  Ã‚   and resumed his activities."   (Chapter 1, page 11)   Ã‚   I don't see how you can't expect to have prejudice in a small town like that, after all isolation is a major factor in why prejudice and racism arise.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   "Men hate each other because they fear each other,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   and they   fear each other because   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  they don't know each other,   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   and they don't know each other because   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   they are often separated from each other. "   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   -Martin Luther King   Ã‚  Ã‚  Ã‚  Ã‚   The stereotypes in this novel are fairly common but the fact that they are accepted and used so openly in public is what astonishes me. I think people in the community, even if they do disagree with what is being said or done, they will say or do nothing because they are afraid of going against the majority of the community and become a victim of prejudice themselves. Atticus was one of the few who actually stopped and listened to himself without being biased by the views and opinions of the rest of the town. He then had the courage to stand up and take prejudice himself for trying to correct the prejudice against a black man, and prove his innocence.      Ã‚  Ã‚  Ã‚  Ã‚   "Scout, you aren't old enough to understand some things yet, but   Ã‚  Ã‚  Ã‚   there's been some high talk around town to the effect that I

Environmental Impacts of a Cement Plant Unit

Decision The building activities will ensue in minimal loss of flora and surface soil in the works country. Maximum possible extent tree cutting would be avoided. No important inauspicious impact on the dirt in the encompassing country is anticipated. During building stage, dust will be the chief pollutant, which would be generated from the site development activities and vehicular motion on the route. The impact of such activities would be confined within the undertaking boundary and restricted to the building stage. To extenuate these impacts regular scattering of H2O will be done at the building site. The attack roads will be black carpeted and vehicles will be kept in good order to minimise car fumes. The coevals of domestic sewerage discharge from labour settlements and lavation of building stuffs stockpiled and concrete batching works will hold some impact on surface H2O and to a smaller grade on groundwater. To turn to possible impacts on H2O quality, disinfected latrines ( with regular liming ) will be used as chief constituent of the sanitation system.Construction procedure would include fiction of steel constructions, concrete and related H2O use. The possible impact is considered minor as it will be largely happening during building period and will hold no long term impact with position to relentless pollution. The overall impact on H2O environment during building stage due to the cement works would be of short term continuance and insignificant. The major beginnings of noise during the building stage are vehicular traffic, building equipment like dozers, scrapers, concrete misers, Cranes generators, pumps, compressors, stone drills, pneumatic tools, proverbs, vibrators etc.the operation of these equipment will bring forth noise runing between 70-85 dubnium ( A ) . The noise produced during the building will hold important impact on the bing ambient noise degrees. The major work will be carried out during the daylight. Most of the land identified for the bing undertaking contains bare land with limited figure of trees. Trees will be cut merely if required and as per functional demand. The remotion of flora from the dirt and relaxation of the surface soil by and large causes dirt eroding. However such impacts will be confined to the works site and will be minimized through pavement and H2O scattering. Therefore no major loss of biomass is envisaged during building stage. The non workers in the constitute more than 60 % of the entire population in 10 kilometers radius survey area.This indicates the handiness of ample work force required for the building activity in the vicinity. The works will supply either direct or indirect occupation chances to the local population every bit far as possible. There will be some migration of labour force from outside the survey country during building stage, which may set some force per unit area on the local colonies and resources. So the demographic impact is envisaged to be fringy and impermanent in nature. However, the flow of work forces, money and stuff will impact the socio-economic position of the people in the country. The positive impact may be the addition of employment chances for unskilled and semi-skilled workers. Ancillary development such as stores, hotels and other allied services will besides open up avenues for employment. The subsequent betterment in the position of the people will besides assist in increasing the wellness and instruction position of the people. Diseases matching to labour influex and their impact on local community will be regulary monitored. Health position monitoring of labors and its environing population shall be carried out with the nomadic wellness attention installations. During building of any big undertaking, there is ever opportunity of traffic congestion on nearby roads due to heavy vehicular motion. However it was observed that the route web next to the cement works has medium traffic and have a mix of fast moving and decelerate traveling traffic. Thus add-on of the awaited vehicles during building stage will non hold much impact on the traffic scenario. Literand demand for the cement works is 120.626 hour angle, which is already in ownership of the company. With execution of the works, the land usage at the site will be for good changed to industrial class. Impacts on dirts will be restricted during building stage, which will acquire stabilized during operational stage. The impact on the top dirt will be confined to the chief works country. The air borne fleeting dust from the works is likely to be deposited on the surface soil in immediate locality of the works boundary. However, the fleeting emanation are likely to be controlled to a great extent through control steps such as H2O sprinkler systems and dust extraction and dust suppression systems shall be installed. All the solid waste generated will be to the full re-used either in the procedure or in accessory activities ; therefore no impact of solid waste is envisaged on dirt quality of the country. Adequate stack highs have been provided to scatter gaseous emanations over a broad country. In order to command emanations of particulates adequate control equipment are installed.Prediction of impacts on air environment has been carried out by utilizing land degree concentration at a distance of 1.0 kilometers on southeast way. The impact on air quality is assessed based on emanation of the cement works. Particulate affair will be the of import pollutant breathing from the cement works, the maximal attendant land degree concentration that the maximal short term 24 hourly land degree concentrations for PM, SO2and NOx during normal operations of the works composite are likely to be 2.48 & A ; micro ; g/m3, 12.85 & A ; micro ; g/m3and 9.75 & A ; micro ; g/m3 severally occuruing at a distance of 1.0 to 1.5 kilometers during station monsoon season. Fleeting dust emanations from the bing works would be important as there will be air pollution due to activities like conveyance of limestone, coal handling, cinder handling, and oppressing unit and by and large due to the motion of vehicles on the roads. The limestone conveyance is being carried out by covered conveyer system from the limestone crusher unit to the works, therefore fleeting dust in non envisaged. Number of smaller sized bag dust collectors/bagfilters for de-dusting at tasfer points and other fleeting dust emanation countries are installed. Hence the impact due to fleeting emissuions would be undistinguished. All the internal roads within the works premises will be metalled ; hence dust originating from the internal roads will be in important. The greenway and regular H2O sprinking will foster aid decrease in fleeting emanations. The bing cement works contains figure of points of heavy equipment such as fans, engines, generators and cement grinding works. There will be associated route or rail traffic including truck motion and loading equipment. Consequently cement fabrication is likely to bring forth noise and quiver. Noise and quiver is greater from heavy truck traffic associated with quarry operations and conveyance of natural stuffs and finished merchandise. The chief noise bring forthing beginnings from the cement works will be crushers, ball Millss, ice chest fans, pumps, compressors, turbines along with chilling tower and boilers. The noise degrees at the beginning for these units will be maintasined below 85 dubnium ( A ) . Hazardous waste in the signifier of used and godforsaken oil is generated from autoworkshop, different subdivision of cement works. No risky waste will be generated either in the procedure or pollution control equipment installations. There is no solid waste generated from the cement works. All the dust collected in air pollution control equipment ( APCEs ) will automatically be recycled into the procedure. Flyash use will be as per MoEF flyash use presentment. Flyash will be 100 % for production of pozzolona cement devising by the cement works. Solid waste in the signifier of sludge is generated from the sewerage intervention works. The waste will be used for maintain the assorted lequire suspended solids ( MLSS ) in the activated sludge procedure of STP and the balance waste is used as manure for greenway development. Since the unit will be runing on zero discharge procedure, no inauspicious impact on surface H2O organic structures is envisaged. The works drainage system will be ap propriately designed such that the storm H2O does non transport any pollutants. The impact from the air emanation is non expected to be important since the stack tallness design and the atmosphereic conditions are such that the ambient air quality at present every bit good as in hereafter after the present installation will be within the prescribed ambient air quality bounds set Forth by CPCB. Comprehensive control steps have been incorporated as elaborated under Environment direction program ( EMP ) . The discharge of waste stuffs ( stack emanation, waste H2O and solid wastes ) from works operations potentially could hold impact on public safety ad wellness if proper extenuation steps are non taken. The impact from the discharge of waste merchandises is non expected to be important since, the inauspicious impacts on ambient air, H2O and dirt quality are predicted to be low. It is predicted that the impacts on public safety will be really low, due to the effectuive safety system and safety direction available in the works. Overall, the impact on public safety and wellness from the cement works activities are likely to be undistinguished. Govindgarh modesty wood is 0.2 km north-northeast waies 10 kilometers radius survey country. But there are no ecologically sensitive countries like wildlife sanctuaries within 10 kilometers radius from the works and besides no migration path to avi zoology is observed or recorded in the survey country. Son gharihal sanctuary is located at a distance of 9.0 kilometer towards south east direction.similarlly as per the wood section, no endangered or rare species of vegetations and zoologies are reported or observed in the survey country. Development of a thick greenway and besides application of limestone injection in AFBC ( Atmosphric fluidized bed burning ) boilers, transit of stuff through closed conveyer system still further cut down of pollution tonss in the environing countries and contain the negative impact on wood and tellurian ecology. Hence the impacts on the tellurian ecology will be undistinguished. The wastewaters are non envisaged to be discharged into any watercourses. Hence no impact is envisaged from the bing works on aquatic organic structures. The impacts on the ecology will be due to the incremental gaseous concentrations and noise generated during operation of the bing power works. The demand of unskilled work force will be met from nearby small towns during building and operation stage. The works will besides assist in coevals of indirect employment apart from direct employment. This will be a positive socio-economic development for the part. There will be a general upliftment of criterion of life in the part. The discharge of waste stuffs ( stack emanation, effluent and solid wastes ) from procedure operations is expected to be undistinguished and may non hold possible impact on public safety and wellness. The inauspicious impacts on ambient air and dirt quality are predicted to be undistinguished. Primary wellness study was carried out to measure the wellness position of the people in the survey country in the small towns of Majhigawan, Sarda, Jurmani, Hinauti and Gorhatola small towns which are autumn in 2 kilometers radius from mines lease boundary. The survey reveals that in general the country is prone to malaria in monsoon season and icterus before and after monsoon season. Therefore is no disease form which can be attributable to any industrial pollution. The incidence of any lungs related wellness upset are chiefly due to the wonts such as smoke. The cement works unit together with confined power works will ensue in betterment of substructure every bit good as upliftment of societal construction in the surrounding small towns. The people shacking in the nearby countries will be benefited indirectly. The major benefit due to the cement works will be in the domain of bring forthing impermanent employment for significant figure of forces. During the enlargement of building stage about 1000 people on an norm will be employed. The work force during operational period is estimated to be about 350 individuals. Employment will be provided to eligible undertaking affected individuals both during building and operational stage. Impermanent employment for people from the adjacent small towns during building stage. The instruction and substructure installations such as development of ply land for childrens, noon repasts, computing machine preparation for the children/youth of weaker subdivision, scholarship for pupils of college/ITI, upg radation/renovation of bing schools, H2O supply, furniture, computing machines, library, books, school bags, athleticss kits, healthful installations etc. will be provided. Supplying primary wellness centres and ambulance installation. Conduction of vaccination/immunization programmes including infantile paralysis cantonments, oculus cantonments and medical assistance, reding and rehabilitation installations for drug addicts.Assistance/encouragement to self aid groups and income coevals strategies. Community development activies such as building of new community/panchayat halls. Provision of solar energy to community/panchyat edifice. Rennovation and modernisation of bing community/panchyat halls. The budget estimated under CSR activies is about Rs. 55 crores as on one clip capital outgo and Rs. 11 crores as repeating outgo per annum for 10 old ages.

“Comparative Study of Different Financial Instrument in Indian Market” Use by Retail Investor

â€Å"Comparative study of different financial instrument in Indian market† Submitted to: Prof. Jitendra Sharma Prof. Daisy Kurien Submitted By: Radhika Khant Date of Submission: May 18, 2012 Xcellon Institute- School of Business Project report on â€Å"HR Policy in HDFC Bank† Submitted to: Prof. Jitendra Sharma Prof. Daisy Kurien Submitted By: Radhika Khant A report submitted In a partial fulfillment for the award Of the Post Graduate Programme in General Business Management (2011’13) Ahmedabad 17 April 2012 Table of Content Acknowledgement†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 4 Executive Summary†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦5 1.Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦6 2. 1 Financial Industry: History†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 6 2. 2 Financial Industry in India†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 7 2. 3 Financial Services in India: Brief Overview†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦7 2. 4 Financial Services in India: Recent Development†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 9 2. 5 Financial Services: Government Initiatives†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 10 2. 6 Financial Services: Demand and Supply†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 10 2. 7 List of top finance companies in India†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 10 2. 8 Road Ahead†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 13 2. Types of Instruments†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 14 3. Debt instruments†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 14 3. 10 Debenture†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 15 3. 11 Bonds†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦16 3. 12 Mutual fund†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 18 3. 13 Equity†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦21 3. 14 Insurance†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 23 3. 15 Gold†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 26 3. 16 Real estate†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 27 3. 17 Forex†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 30 3. 18 Fixed Deposit†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 31 3. Research Methodology†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 33 3. 1Scpoe of Research†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 33 3. 2Management Question†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 3 3. 3Objectives of study†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦34 3. 4Research Design†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 35 3. 5Sources of Data†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 35 3. 6Sampling Design Process†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 36 3. 7Data Analysis Technique†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 36 3. 8Limitation of the Study†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 36 4. Analysis of data†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 37 5. Finding/ Interpretation†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 63 6. Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦69 7. Reference†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 70 8. Annexure†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 73 Acknowledgement Being fortune enough to be a part of Xcellon Institute-School of Business, Ahmedabad.First of all I would like to thank to Professor Jitendra Sharma for helping me to give relevant information for preparing my project. At last, my grateful thanks is also extended to Ms. Daisy Kurien (professor of Xcellon Institute-school of business) to give her guidance and for all supports throughout the project. Radhika Khant Executive Summary The whole topic covers the perception regarding investor while investing in any financial instrument. What are the factors investor consider while investing. What are the criteria are very important for the investor.The whole study tells about the different financial instrument and the preference of people towards those instruments. Chapter 1 gives the idea regarding the financial industry of India. It also throws the light about the current trends of financial industry and who are the major player in the financial service providers. It gives the idea regarding the recent change occurred in this sector. At last, it shows the future of that sector. Chapter 2 includes the comparative study of different financial instruments like equity, debenture, fixed deposit, bonds, forex, real estate, insurance, gold, mutual fund.It covers the advantages and disadvantages of each instrument. Chapter 3 basically deals with the res earch methodology used for preparing the report. It includes the sampling technique procedure, sample size, management question, research objective, data analysis technique and limitation of the study. Chapter 4 includes the analysis of all the primary research. With the help of different statistical techniques like multiple correlation, Anova, Chi-square. Chapter 5 includes the finding or interpretation of the analysis. 1. Introduction Finance industry in the world as consider to be the most important.Financial services are the economic services provided by financial industry, which encompasses a board range of organizations that manage money, including credit unions, banks, credit card companies, insurance companies, consumer finance companies, stock brokerages, investment fund and some government sponsored enterprise. The term ‘financial services’ became more relevant in the US partly as a result of the Gramm-Leach-Billey Act of the late 1990s, which enabled differen t types of companies operating in the US financial services industry at that time of merge. 1. 1 Financial Industry: HistoryThe major events that have shaped the modern finance industry are: * The Great Depression (1929): The Great Depression originated in the US with the Wall Street crash in October 1929. The effects of the depression spread across the world, especially in the heavy industries. Capital requirements regulation, financial industry oversights and the insurance of deposit accounts sprang out of this tumultuous period. * Black Monday (1987): On October 19, the stock markets across the world witnessed a huge crash. This was the largest one day decline in the stock market history. The crash started in Hong Kong, spreading to Europe and the US.Analysts blamed computer trading systems for magnifying the losses. * Asian Financial Crisis (1990s): The Asian Financial Crisis was triggered by the collapse of Thai baht as the government of Thailand decided to float the national c urrency. The nation had a huge foreign debt at that point, driving it to the verge of bankruptcy. The crisis rippled across the whole of Southeast Asia and has led to many emerging market countries to reduce debts and build up foreign currency reserves. * Stock Market Downturn (2002): Stock exchanges around the world witnessed a significant decline in March 2002.It was attributed to the bursting of the ‘Dot-com Bubble’, which saw major Internet companies going bankrupt. * Sub-prime Crisis (2007): Credit markets faced major crunch due to large scale default on loans. It led to the Financial Crisis of 2008 – 2009 and resulted in the bankruptcy, fire-sale acquisition and government bailouts of finance industry giants such as Lehman Brothers, Bear Stearns, AIG, Fannie Mae, Freddie Mac, Merrill Lynch, Wachovia, Northern Rock, Lloyds TSB, HBOS, RBS and the entire banking system of Iceland. The world economy can expect reduced growth rates and tighter regulations as a r esult of this crisis. . 2 Introduction of financial industry in India The financial industry, or financial services industry, includes a wide range of companies and institutions involved with money, including businesses providing money management, lending, investing and insuring and securities issuance and trading services. The following institutions are a part of financial industry. * Banks * Credit card issuers * Insurance company * Investment banker * Securities traders * Financial planner * Security exchange 1. 3 Financial Services in India- Brief OverviewFinancial services industry is the mainstay of any economy as it mirrors the financial health of the country. Indian financial markets are highly regulated with different authorities keeping an eye on every avenue of financial sub-segments viz. Stock markets, mutual funds, insurance and banking. Stock markets are regulated by Securities and Exchange Board of India (SEBI) while Insurance Regulatory and Development Authority (IRD A) keep an eye on the insurance industry. Similarly, Reserve Bank of India (RBI) keeps a check on the Indian banking sector and Association of Mutual Funds in India (AMFI) takes care of the mutual fund segment.India boasts of a Rs 23, 000 crore (US$ 4. 44 billion) – financial services distribution and advice market. Recent developments, Government measures, key facts and figures pertaining to the same are discussed hereafter. Insurance Sector Even when the turbulent times are prevalent in the global financial markets, Indian consumers have not lost faith in their financial systems. This fact is majorly driving Indian insurance market. According to the data released by Life Insurance Council, total premium collected (including both new and renewal premiums) during April-September 2011 stood at Rs 1,22,661 crore (US$ 23. 9 billion). In the same period, the renewal premium collection increased by 17 per cent to Rs 73,575 crore (US$ 14. 21 billion), as against Rs 62,818 crore (US $ 12. 13 billion) in the corresponding period in 2010. Till September 30, 2011, promoters of life insurance companies had injected over Rs 32,720 crore (US$ 6. 32 billion) as capital. Also, there was an investment of more than Rs 200,000 crore (US$ 38. 62 billion) in infrastructure development in the sector. The council further predicts an upsurge in new premium collections during October 2011-March 2012.Ratings agency Moody's believe that strong deposit base of Indian lenders and Government's persistent support to public sector and private banks would act as positive factors for the 64 trillion (US$ 1. 23 trillion) Indian banking industry amidst the negative global scenario. * According to the RBI's ‘Quarterly Statistics on Deposits and Credit of Scheduled Commercial Banks', March 2011, Nationalized Banks, as a group, accounted for 53. 0 per cent of the aggregate deposits, while State Bank of India (SBI) and its associates accounted for 21. 6 per cent.The share of new private sector banks, Old private sector banks, foreign banks and Regional Rural banks in aggregate deposits was 13. 4 per cent, 4. 6 per cent, 4. 4 per cent and 3 per cent respectively. With respect to gross bank credit also, nationalized banks hold the highest share of 52. 8 per cent in the total bank credit, with SBI and its associates at 22. 1 per cent and New Private sector banks at 13. 2 per cent. Foreign banks, Old private sector banks and Regional Rural banks held relatively lower shares in the total bank credit with 4. 9 per cent, 4. per cent and 2. 4 per cent respectively. * Another statement from RBI has revealed that bank advances grew 17. 08 per cent annually as on December 16, 2011 while bank deposits rose 18. 03 per cent. Mutual Funds Industry in India Recent data released by AMFI stated that the cumulative average Asset Under Management (AUM) of all fund houses aggregated to about Rs 6,87,640 crore (US$ 132. 77 billion) in the last quarter of 2011. Data compiled at the end of 2011 indicated that HDFC Mutual Fund maintained its top position with an average AUM of Rs 88,737. 07 crore (US$ 17. 3 billion) while fund houses namely Reliance, ICICI Pru, Birla Sun life and UTI followed. By the end of 2011, there were a total of 44 fund houses in the country as against 42 in the first quarter of the year. Private Equity (PE), Mergers ; Acquisitions (M;A) in India Global consultancy firm Ernst ; Young (E;Y) has stated that the value of M;A deals involving Indian companies aggregated to US$ 34. 4 billion in 2011 involving 806 transactions. There were 177 outbound deals with an aggregate disclosed value of US$ 8. 8 billion in 2011; forming 25. per cent of the total M;A pie. Adani Enterprises' acquisition of Abbot Point Coal Terminal in Australia (US$ 2 billion) and the GVK Group's purchase of Australia-based Hancock Coal's Queensland coal assets (US$ 1. 3 billion) were among the biggest outbound deals recorded in 2011. According to data released by auditing and c onsultancy firm KPMG, India Inc witnessed a 31 per cent increment in PE investment to US$ 7. 89 billion during the first three quarters of 2011. PE firms like Blackstone India and Kohlberg Kravis Roberts & Co (KKR & Co) are betting high on Indian markets.The Blackstone India chief was reported to have said that he intends to close 5-6 deals a year in India whose financial valuations would revolve around roughly US$ 100 million to US$ 120 million each. Foreign Institutional Investors (FIIs) in India Overseas entities are among the important drivers for Indian stock markets. FII flows account for about 45 per cent of the market free-float, according to Jyotivardhan Jaipuria, Managing Director and Head of Research, DSP Merrill Lynch (India). According to the data released by SEBI, FIIs purchased stocks worth Rs 600,000 crore (US$ 116 billion) during 2011.FIIs were also seen attracted to the debt market in 2011 wherein they infused Rs 42, 067 crore (US$ 8. 12 billion). This intense inte rest in debt markets helped India get a net FII inflow of Rs 39, 353 crore (US$ 7. 6 billion) (taking both- debt and stocks- into account) for the year. The number of FIIs registered with SEBI stood at 1, 749 as of October 2011, while the number of FII sub-accounts was 6, 058 during the month. Furthermore, FIIs injected Rs 41,253 crore (US$ 8 billion) in Government securities (G-secs) and Rs 68,289 crore (US$ 13. 18 billion) in corporate bonds, as on October 31, 2011. 1. Financial Services in India: Recent Developments * India Infrastructure Finance Company Ltd (IIFCL) and IDBI Bank have inked a five-year memorandum of understanding (MoU) to launch infrastructure debt fund (IDF) schemes. The IDF, for which IDBI Bank and IIFCL would play strategic investors, is expected to get launched by the end of February 2012. * With an intension to strengthen its hold in southern India, the Uco Bank is planning to add 11 more branches in Andhra Pradesh to its 66-branch-strong network in the stat e. The bank has made exemplary progress in recent past with 2,004 branches in the country and four abroad. IRDA has recently launched a mobile application that enables comparison between various insurance products and premium rates. The application, compatible with Android, iPhone, Nokia and Blackberry platforms, has been developed to empower consumers/prospects to make informed decisions by comparing features of insurance products through mobiles. * US-based financial services company Ameriprise Financial Inc has commenced its operations in India. It is the only international firm in India that would provide pure financial planning and wealth management services to the Indian consumers. 1. 5 Financial Services: Government InitiativesThe Government's top priority seems to be the enhancement of investor base for the Indian markets. That is why the Ministry of Finance started 2012 with a happy announcement by allowing foreign nationals, trusts and pension funds to invest directly in t he country's listed companies from mid-January 2012. The Government of India has also decided to infuse Rs 6,000 crore (US$ 1. 16 billion) in public sector banks during the remaining 2011-12 to ensure that the entities meet regulatory requirements. In 2010-11, the Government had provided Rs 20,157 crore (US$ 4 billion) as its capital support to public sector banks.In order to prepare public sector banks for neck-to-neck competition ahead and improve their performance in future, the finance ministry has set new benchmarks for them to achieve. The new benchmarks, that would calculate their functional and financial capability to qualify for capital infusion, entail three performance indicators – savings and current deposit ratio, employee-branch ratio and profit per employee. 1. 6 Financial Industry: Demand and Supply Drivers Demand for financial products is driven by risk-reward assessments, which consider: * Potential Yield * Risk rating * Liquidity Availability of information * Access to alternatives The major supply drivers are: * Money supply * Interest rates * Inflation * Economic conditions Government regulations 1. 7 List of Top Finance Companies of India SBI Capital Markets Limited: It is one among the oldest organizations in the capital markets sector of India. It was established in the year 1986 as an ancillary of SBI. It ranks second in Asia's Project Advisory services. The company is a trailblazer in privatization and securitization. The company’s subsidiaries are SBICAPs Ventures Ltd. , SBICAP Trustee Co. Ltd. Bajaj Capital Limited:The company offers best investment advisory and financial planning. It provides institutional investors, NRIs, corporate houses, individual investors, and high network clients with investment advisory and financial planning services. It is also the largest provider of finance products offered by public and private organizations, several government bodies, investment products like bonds, mutual funds, general insurance etc. IDBI Bank: The Managing Director and Chairman of the bank is Shri R. M. Malla. It offers the services like personal banking, corporate banking, MSME finance, NRI services and much more.Browse the site to know more. UTI Mutual Fund: The company offers best investment advisory and financial planning. It is recognised as India's most trusted financial advisor. DSP Meriyll Lynch Limited: It is the key player of equity and debt securities in India. It renders financial advises to many corporations and institutions. It also offers a wide array of wealth management and investor services along with customized advices related to financial matters. This company is the pioneer to form research facility to research in financial products and services, improvements and innovations. The company also has its hand in theGovernment securities and holds an eminent position in the market of equity and debt in India. | | Birla Global Finance Limited: It is a subsidiary of Aditya Birla Nu vo Ltd. Their motto is to be the first choice of the customers as a major provider of financial services through technology and value creation. The primary activities of the company are Corporate Finance and Capital Market. Aditya Birla Nuvo has also formed alliance with Sun Life Financial of Canada which has given rise to the following financial services companies like Birla Sun Life Insurance Co Ltd. , Birla Sun Life Distribution Co. and many others.Housing Development Finance Corporation: This company offers the best financial solutions and guidance for home loans, property related services, loans for NRIs etc. in India. The one stop destination for comprehensive information on personal finance is HDFC. The company has a wide network in India and abroad. HDFC overseas offices are in Singapore, Kuwait, Qatar, Saudi Arabia and many others. PNB Housing Finance Limited: This is completely owned by PNB and offers premium solutions to relieve the borrowers. This subsidiary of the PNB h as recorded a growth a 73% and is a leading finance company of India.The Home Loan Life Insurance Plan of this company in association with TATA AIG offers the lowest premium in compare to others. The chart for loans of 5 lacs and tenure of 15 years is just premium. It renders other services like Deposit schemes, Loan schemes and many others. ICICI Group: ICICI offers a wide spectrum of financial products and services in India. The company provides solutions for all needs like Instant Banking, Online Trading,Insta Insure,ICICI Bank imobile etc. The company keeps up the financial profile healthy and diversifies earnings across geographies and businesses.The company's philosophy is to deliver high class financial services for all the cross sections of the society. Their products are Mutual Fund, Private Equity Practice, Securities, and Life Insurance etc. LIC Finance Limited: It is the leading player in the finance sector of India being the biggest Housing Finance Company of India. The function of the company is to provide finance to individuals for repair or construction or renovation of the old or new apartment or house. It also offers finance on the existing property for personal or business matters. The company has 14 back offices,6 regional offices and 126 units of marketing in India.L ; T Finance Limited: This company was established in the year 1994 by the Larsen and Turbo group and now it is a significant name in the financial sector. The company offers schemes like funds for automobiles, funds for Agricultural Instruments, secured loans, funds for automobiles and many others. It offers loans for a long tenure and the loans are given in exchange of valuable items. India Infoline Limited: The IIFL (India Infoline) group, consisting the holding company, India Infoline Ltd (NSE: INDIAINFO, BSE: 532636) and its subsidiaries, is one of the leading players in the Indian financial services space.It has a lot of information related to financial world. Check out t he site for more information. 1. 8 Road Ahead A report by The Boston Consulting Group (BCG) India, in association with an industrial body and Indian Banks Associations (IBA) predicts that Indian banking sector would become the world's third largest in asset size by 2025. The report also analyses that mobile banking would become the second largest channel of banking after ATMs. Given the positive eco-system of the industry, regulatory and Government initiatives, mobile banking is anticipated to enhance from 0. per cent of transactions in a 45 per cent financial inclusion base in 2010 to 34 per cent of the transactions with 80 per cent rural inclusion base by 2020, as per the report. An industrial body predicts that the non-life insurance sector is poised to become a Rs 90,000 crore (US$ 17. 37 billion) industry (from the current level of Rs 47,000 crore (US$ 9. 07 billion) by 2015; growing by over 18 per cent. Demand-driven economy, increasing consumer base in motoring and healthcare , growth of services and small and medium enterprises (SMEs) are certain factors that are attributed behind the strong forecast 2. Types of InstrumentsOverview There are many ways to invest your money. Of course, to decide which investment vehicles are suitable for you, you need to know their characteristics and why they may be suitable for a particular investing objective. †¢Ã‚  Debt  Market †¢ Public Provident Fund †¢Ã‚  Fixed  Deposits †¢ Bonds †¢Ã‚  Mutual  Funds †¢Ã‚  Banks  Deposits †¢Ã‚  Equity  Market †¢Ã‚  Initial  Public Offer (IPO) †¢ Insurance †¢ Forex †¢ Cash †¢ Gold †¢Ã‚  Real  Estate 2. 1 DEBT INSTRUMENTS Debt instruments protect your capital, therefore the importance of a solid debt portfolio. This not only gives stability, but also offers  you optimal returns, liquidity and tax benefits.Debt  products, besides safeguarding your capital, can be used to meet short, medium and long-term financial needs. * SHORT TERM INVESTMENT They are good for short term goals, you can look at liquid funds, floating rate funds and short-term bank deposits as options for this category of investments. Liquid funds have retuned around 5% post-tax returns as compared to 5. 6% post-tax that your one-year 8% bank fixed deposit gives you. So, if you have funds for investment for over a period of one year, it is better to go in for bank deposits. However, liquid funds are better, if your time horizon is less than one-year, say around six months.This is because the bank deposit rates decrease proportionately with lower periods, while liquid funds will yield the same annualized returns for any period of time. Short-term floating rate funds can be considered at par to liquid funds for short term investments. * Fixed Maturity Plan (FMP): If you know exactly for how much time you need to invest your surplus, a smarter option is to invest in FMPs. They are shorter-tenured debt schemes that buy and hold securities till maturity, thereby eliminating the interest rate risk. Try and opt for FMPs that offer a double indexation benefit.Fund houses usually launch double-indexation FMP’s during the end of the financial year so that they cover two financial year closings. * Medium & Long-Term Options: These options typically offer low or virtually no liquidity. They are, however, largely useful as income accumulation tools because of the assured interest rates they offer. These instruments(small savings schemes) should find place in your long-term debt portfolio. Table 1 Schemes| Type| Interest rate| Term| Min max investment| Premature withdrawal| Tax benefit| Public provident fund| Recurring | 8%pa| 15 years| Min.Rs 500 Max. Rs 70000| yes| U/S 80c| National saving certificate| Growth| 8% compounded half yearly| 6 years| Min. Rs. 100Max. No upper limit | No | U/S 80c| Kisan vikas patra| Growth| Amount doubles in 8years & 7months| 8 years & 7 months| Min. Rs. 100Max. No uppe r limit| Yes | Nil | Post Office Time &Recurring Deposit| Fixed deposit| 6. 25-7. 50%| 1-5 years| Min. Rs. 200Max. No upper limit| Yes | Nil| Post Office Monthly Income Scheme| Regular income| 8% payable monthly| 6 years| Min:  Rs. 1,  000Max: Rs. 3Lac(Single)Rs. Lac(Jointly)| Yes| Nil| Senior Citizens Savings Scheme| Regular income| 9% payable quarterly| 5 years| Min. Rs 1000 Max. Rs 15 lack| Yes| Nil | 2. 3 BONDS Overview Bonds refer to debt instruments bearing interest on maturity. In simple terms, organizations may borrow funds by issuing debt securities named bonds, having a fixed maturity period (more than one year) and pay a specified rate of interest (coupon rate) on the principal amount to the holders. Bonds have a maturity period of more than one year which differentiates it from other debt securities like commercial papers, treasury bills and other money market instruments.It is a fixed income instrument issued for a period of more than one year with the purpose of  raising capital. The central or state government, corporations and similar institutions sell bonds . A bond is generally a promise to repay the principal along with a fixed rate of interest on a specified date, called the Maturity Date. The main attraction of bonds is their relative safety. If  you are buying bonds from a stable government, your investment is virtually guaranteed, or risk-free. The safety and stability, however, come at a cost.Because there is little risk, there is little potential return. As a result, the rate of return on bonds is generally lower than other securities. Terminology Used in Bond Market| Meaning in General Terms| Bonds| Loans (in the form of a security)| Issuer of Bonds| Borrower| Bond Holder| Lender| Principal Amount| Amount at which issuer pays interest and which is repaid on the maturity date| Issue Price| Price at which bonds are offered to investors| Maturity Date| Length of time (More than one year)|Coupon| Rate of interest paid by the issue r on the par/face value of the bond| Coupon Date| The date on which interest is paid to investors td-txt| * Tax Saving Bonds These are those bonds that have a special provision that allows the investor to save on tax. Examples of such bonds are: a) Infrastructure Bonds b) Capital Gains Bonds I. Rural Electrification Corporation (REC) Bonds. II. National Highway Authority of India (NHAI)c III. National Bank for Agriculture & Rural Development c) RBI Tax Relief Bonds Table 2 Scheme| Who can invest? Investment| Interest| Maturity| Premature withdrawal| Tax benefit| | | Min| Max| | | | | Infrastructural bonds| Individuals or on behalf of minors, trusts| 5000| No limit| 8% compounded semi annually| 6 years| After 4 years | Yes| Capital gain bonds| Individuals or on behalf of minors, trusts| | | | | | | REC| All | 1 lack| No limit| 5. 15% pa| 5 years| After 3 years| Yes| NHAI| All| 10000| No limit| 6. 5% pa| 7 years| After 3 years| Yes| NABARD| All| 1 lack| No limit| 5% pa| 5 years| After 3 years| Yes| RBI tax relief bonds| Individuals or on behalf of minors, trusts| 1000| No limit| 6. %(tax free)| 5 years| After 3 years| Interest exempt from IT| | | 1000| No limit| 8% (taxable)| 6 years| No| Interest is not exempt from IT| 2. 4 MUTUAL FUNDS Overview A mutual fund is a body corporate registered with SEBI that pools money from the Individuals/corporate investors and invests the same in a variety of different financial Instruments or securities such as Equity Shares, Government Securities, Bonds, Debentures, etc. The income earned through these investments and the capital appreciations realized are shared by its unit holders in proportion to the number of units owned by them.Thus a Mutual Fund is the most suitable investment for the common man as it offers an opportunity to invest in a diversified, professionally managed basket of securities at a relatively low cost. Mutual fund units are issued and redeemed by the Asset Management Company (AMC) based on the fund†™s net asset value (NAV), which is determined at the end of each trading session. Mutual funds are considered to be the best investments as on one hand it provides good Returns and on the other hand it gives us safety in comparison to other investments avenues.The advantages of investing in a Mutual Fund are: * Diversification: The best mutual funds design their portfolios so individual investments will react differently to the same economic conditions. For example, economic conditions like a rise in interest rates may cause certain securities in a diversified portfolio to decrease in value. Other securities in the portfolio will respond to the same economic conditions by increasing in value. When a portfolio is balanced in this way, the value of the overall portfolio should gradually increase over time, even if some securities lose value. Professional Management: Most mutual funds pay topflight professionals to manage their investments. These managers decide what securities the f und will buy and sell. * Regulatory oversight: Mutual funds are subject to many government regulations that protect investors from fraud. * Liquidity: It's easy to get your money out of a mutual fund. Write a check, make a call, and you've got the cash. * Convenience: You can usually buy mutual fund shares by mail, phone, or over the Internet. * Low cost: Mutual fund expenses are often no more than 1. 5 percent of your investment.Expenses for Index Funds are less than that, because index funds are not actively managed. Instead, they automatically buy stock in companies that are listed on a specific index * Transparency * Flexibility * Choice of schemes * Tax benefits * Well regulated The disadvantages of investing in a Mutual Fund are: * No Guarantees: No investment is risk free. If the entire stock market declines in value, the value of mutual fund shares will go down as well, no matter how balanced the portfolio. Investors encounter fewer risks when they invest in mutual funds tha n when they buy and sell stocks on their own.However, anyone who invests through a mutual fund runs the risk of losing money. * Fees and commissions: All funds charge administrative fees to cover their day-to-day expenses. Some funds also charge sales commissions or â€Å"loads† to compensate brokers, financial consultants, or financial planners. Even if you don't use a broker or other financial adviser, you will pay a sales commission if you buy shares in a Load Fund. * Taxes: During a typical year, most actively managed mutual funds sell anywhere from 20 to 70 percent of the securities in their portfolios.If your fund makes a profit on its sales, you will pay taxes on the income you receive, even if you reinvest the money you made. * Management risk: When you invest in a mutual fund, you depend on the fund's manager to make the right decisions regarding the fund's portfolio. If the manager does not perform as well as you had hoped, you might not make as much money on your i nvestment as you expected. Of course, if you invest in Index Funds, you forego management risk, because these funds do not employ managers. 2. 5 EQUITY Overview Equities are often regarded as the best performing asset class vis-a-vis its peers over longer timeframes.However equity-oriented investments are also capable of exposing investors to the highest degree of volatility and risk. There are a number of factors, which affect the performance of equities ad studying and understanding all of them on an ongoing basis, can be challenging for most. The rate of dividend on equity shares is not fixed and depends upon the profits available and the intention of the board. In case of winding up of the company, equity capital can be paid back only after every other claim including the claim of preference shareholders has been settled.The most outstanding feature of equity capital is that its holders control the affairs of the company and have an unlimited interest in the company's profits an d assets. They enjoy voting right on all matters relating to the business of the company. They may earn dividend at a higher rate. Stock markets have always been a draw for investors for their ability to generate wealth over the long-term. Fear, greed and a short-term investment approach act as hurdles that frustrate the investor from achieving his/her investment goals. You need to keep in mind the risk associated with the stocks.You also need to diversify your equity portfolio i. e. , include more stocks and sectors. This helps you diversify your investment risk, so even if something were to go wrong with a stock/industry in your portfolio, other stocks/industries should help you shore up your portfolio. Two important resources that are critical to investing directly in stock markets are quality stock research and a reliable and inexpensive stock broker. The first one – research on stocks is the most critical input that investors need to identify before they begin investing in tock  markets. This is because even while you may have the risk appetite for equities, you still need credible, stock market related research that can help you make the right investment decision. The good thing about the Indian market, riding on the back of an economy that has grown by over 7% in the last two years, is that you can’t miss being part of growth if you invest in the stock markets carefully. The bad part is the CHOICE! Of the listed 4,758 stocks on BSE and the NSE, how do you even get close to taking a call?Here comes the need of a financial advisor who can make your investment decisions and monitors your funds. Clearly, as Indians earn more, save more and accumulate more, financial advisors will play a crucial role in helping individuals create, protect and manage wealth. Advantages to Investors: I. More Income: Equity shareholders are the residual claimant of the profits after meeting all the fixed commitments. The company may add to the profits by trading on equity. Thus equity capital may get dividend at high in boom period. II. Right to Participate in the Control and Management:Equity shareholders have voting rights and elect competent persons as directors to control and manage the affairs of the company. III. Capital profits: The market value of equity shares fluctuates directly with the profits of the company and their real value based on the net worth of the assets of the company. an appreciation in the net worth of the company's assets will increase the market value of equity shares. It brings capital appreciation in their investments. IV. An Attraction of Persons having Limited Income: Equity shares are mostly of lower denomination and persons of limited recourses can purchase these shares.V. Other Advantages: It appeals most to the speculators. Their prices in security market are more fluctuating. Disadvantages to investors: I. Uncertain and Irregular Income: The dividend on equity shares is subject to availability of profit s and intention of the Board of Directors and hence the income is quite irregular and uncertain. They may get no dividend even three are sufficient profits. II. Capital loss During Depression Period: During recession or depression periods, the profits of the company come down and consequently the rate of dividend also comes down.Due to low rate of dividend and certain other factors the market value of equity shares goes down resulting in a capital loss to the investors. III. Loss on Liquidation: In case, the company goes into liquidation, equity shareholders are the worst suffers. They are paid in the last only if any surplus is available after every other claim including the claim of preference shareholders is settled. It is evident from the advantages and disadvantages of equity share capital discussed above that the issue of equity share capital is a must for a company, yet it should not solely depend on it.In order to make its capital structure flexible, it should raise funds fr om other sources also. 2. 6 INSURANCE Overview Life insurance has traditionally been looked upon pre-dominantly as an avenue that offers tax benefits while also doubling up as a saving instrument. The purpose of life insurance is to indemnify the nominees in case of an eventuality to the insured. In other words, life insurance is intended to secure the financial future of the nominees in the absence of the person insured. The purpose of buying a life insurance is to protect your dependants from any financial difficulties in your absence.It helps individuals in providing them with the twin benefits of  insuring themselves while at the same time acting as a compulsory savings instrument to take care of their future needs. Life insurance can aid your family on a rainy day, at a time when help from every quarter is welcome and of course, since some plans also double up as a savings instrument, they assist you in planning for such future needs like children’s marriage, purchase of various household items, gold purchases or as seed capital for starting a business.Traditionally, buying life insurance has always formed an integral part of an individual’s annual tax planning exercise. While it is important for individuals to have life cover, it is equally important that they buy insurance keeping both their long-term financial goals and their tax planning in mind. This note explains the role of life insurance in an individual’s tax planning exercise while also evaluating the various options available at one’s disposal. Life is full of dangers, but with insurance, you can at least ensure that you and your dependents don’t suffer.It’s easier to walk the tightrope if you know there is a safety net. You should try and take cover for all insurable risks. If you are aware of the major risks and buy the right products, you can cover quite a few bases. The major insurable risks are as follows: †¢Life †¢Health †¢Income †¢Professional Hazards †¢Assets †¢Outliving Wealth †¢Debt Repayment Advantages of Life Insurance Risk Cover Life today is full of uncertainties; in this scenario Life Insurance ensures that your loved ones continue to enjoy a good quality of life against any unforeseen event. Planning for life stage needsLife Insurance not only provides for financial support in the event of untimely death but also acts as a long term investment. You can meet your goals, be it your children's education, their marriage, building your dream home or planning a relaxed retired life, according to your life stage and risk appetite. Traditional life insurance policies i. e. traditional endowment plans, offer in-built guarantees and defined maturity benefits through variety of product options such as Money Back, Guaranteed Cash Values, Guaranteed Maturity Values. Protection against rising health expensesLife Insurers through riders or stand alone health insurance plans offer the benefits of protection against critical diseases and hospitalization expenses. This benefit has assumed critical importance given the increasing incidence of lifestyle diseases and escalating medical costs. Builds the habit of thrift Life Insurance is a long-term contract where as policyholder, you have to pay a fixed amount at a defined periodicity. This builds the habit of long-term savings. Regular savings over a long period ensures that a decent corpus is built to meet financial needs at various life stages.Safe and profitable long-term investment Life Insurance is a highly regulated sector. IRDA, the regulatory body, through various rules and regulations ensures that the safety of the policyholder's money is the primary responsibility of all stakeholders. Life Insurance being a long-term savings instrument, also ensures that the life insurers focus on returns over a long-term and do not take risky investment decisions for short term gains. Assured income through annuities Life Insurance is one of the best instruments for retirement planning.The money saved during the earning life span is utilized to provide a steady source of income during the retired phase of life. Protection plus savings over a long term Since traditional policies are viewed both by the distributors as well as the customers as a long term commitment; these policies help the policyholders meet the dual need of protection and long term wealth creation efficiently. Growth through dividends Traditional policies offer an opportunity to participate in the economic growth without taking the investment risk. The investment income is distributed among the policyholders through annual announcement of dividends/bonus.Facility of loans without affecting the policy benefits Policyholders have the option of taking loan against the policy. This helps you meet your unplanned life stage needs without adversely affecting the benefits of the policy they have bought. Tax Benefits Insurance plans provide attractive tax-benefits for both at the time of entry and exit under most of the plans. Mortgage Redemption Insurance acts as an effective tool to cover mortgages and loans taken by the policyholders so that, in case of any unforeseen event, the burden of repayment does not fall on the bereaved family.Disadvantages of Insurance as an Investment Option Inconsistent premiums: Most policies contain mandatory premiums that increase in due course. For an insured on a budget, who desires to buy coverage adequate to profit his relations upon his decease, this policy can be quite costly. The unstable inflation guarantees a steep climb. Deduction of funds: While policies include conditions in which shares from cash accounts can be used to disburse premiums, such a request practically always results in deducting funds from the cash value / investment account. Insufficient funds:There is a lack of assurance that ample finance will be accessible to cover unpaid premiums when the policyholder holds inadequ ate funds. Expiration of term insurance: This kind of insurance in not permanent; it is either for a fixed number of years or until a certain age. On completion of the term or when the insured reaches a certain age the policy expires compelling them to qualify for another insurance program, which may require higher premium depending on the age and other factors. Language of premium: It is usually difficult to resolve precisely how costly commissions truly are.The cost is commonly concealed within the fine print of the terms and conditions, and it is normally explained in language that is complex for someone who is unfamiliar to insurance policies. 2. 7 GOLD Overview In India, gold has traditionally played a multi-faceted role. Apart from being used for a dornment purpose, it has also served as an asset of the last resort and a hedge against inflation and currency depreciation. India has more than 13,000 tones of hoarded gold, which translates to around Rs. 6, 50,000 cores. Gold is a n asset class that’s associated with safety.However, the ups and down that the yellow metal has seen over the last few months, has made it look similar to other market investment assets. This is due to an unprecedented demand for gold as an investment avenue since the last couple of years. Gold has attracted a high level of attention in last couple of years, with an image shift from anon-volatile asset to a hot investment avenue. The future outlook for the metal looks positive given its proven linear relationship with the crude oil and non-linear with the US dollar.The much-awaited gold exchange-traded funds would provide a very good vehicle to the investors and a sensible alternative to the current forms available for investment. Advantages The value of gold tends to be stable from year to year and is considered not affected by inflation / zero inflation effect, and very rarely gold prices fell, and gold can also be used for collection and as jewelry. Investment in Gold is a lso good as a way of diversifying the property and remedy could be a good alternative, especially in unstable conditions, gold can be as a tool to hedge.Gold prices also tend to be stable due to the gold commodity in the world cannot grow. One other advantage is the price of gold is pegged in U. S. dollars, so when an increase in the value of U. S. dollar. You can get two immediate benefits of the increase in dollars and also increase the price of gold itself. But can the same condition, when the gold price was falling. But for the long term gold prices tend to stabilize and rise. Disadvantages Lack of investment in gold is the factor of storage / storage and treatment / handling. Storing gold in large quantities relatively risky and expensive.Also, if storage is not good, though wrapped in protective cover, allowing the oxidation and discoloration. Especially in the form of gold coins, if you fall, dented, or chipped, it’s hard for re-treatment and could reduce the price. In gold investments, you tend to be more careful and pay attention in terms of maintenance and storage. Another One drawback is its relatively stable returns and less exciting than stocks or property. Also, it is not advisable to invest in gold only in the short term (1 year or less). So, based on the strengths and weaknesses are, in my opinion tend to be more precise gold to hedge / hedging of the investment. . 8 REAL ESTATE Overview Real estate is a great investment option, as it gives you capital appreciation and rental income. It’s an investment option since it fights inflation. The fundamentals for investing in property markets remain strong in India – relatively low interest rates, strong capital flows, high employment growth, abundant liquidity, attractive demographics (young population and migration from West), increase in affordability, and a large supply of stock to keep up with demand and focus on quality. The price you pay for a property should reflect the fu ture rent/income at which you let it.As in the stock market, the prices in real estate are also driven by sentiments. All that is required to reverse a price movement is a change in sentiment. Start saving for a home the moment you begin your career. Early acquisition helps you to repay your home loan well within your working life. Also, the EMI as a percentage of your salary decreases as your pay increases making the outflows more affordable. If you lock into the interest rate for the loan, the interest outflow will be less than the compounding effect of  inflation. You should be very clear about why you want to invest in real estate.It is a very good tool for wealth creation but like all other assets, has its share of risks. Careful planning, however, can minimize the risks. Property has proved a relatively secure investment over the past quarter decade in, with returns above 8 per cent in some metropolitan markets, but what should you consider before directing your savings to a n investment property? Advantages of investment properties In general, property is considered a fairly low-risk investment, and can be less volatile than shares (although, this is not always the case).Some of the advantages of investing in property include: * Tax benefits A number of deductions can be claimed on your tax return, such as interest paid on the loan, repairs and maintenance, rates and taxes, insurance, agent's fees, travel to and from the property to facilitate repairs, and buildings depreciation. * Negative gearing Tax deductions can also be claimed as a result of  negative gearing, where the costs of keeping the investment property exceed the income gained from it. * Long-term investment Many people like the idea of an investment that can fund them in their retirement.Rental housing is one sector that rarely decreases in price, making it a good potential option for long-term investments. * Positive asset base There are many benefits from having an investment propert y when deciding to take out another loan or invest in something else. Showing your potential lender that you have the ability to maintain a loan without defaulting will be highly regarded. The property can also be useful as security when taking out another home, car or  personal loan. * Safety aspect Low-risk investments are always popular with untrained â€Å"mum and dad† investors.Property fits these criteria with returns in some country areas reaching 10% per year. Housing in metropolitan areas is constantly in demand with the high purchase price being offset by substantial rental income and a yearly return of between 4% and 8%. * High leverage possibilities Investment properties can be purchased at 80% LVR (loan to valuation ratio), or up to 90% LVR with  mortgage insurance. The LVR is calculated by taking the amount of the loan and dividing it by the value of the property, as determined by the lender.This high leverage capacity results in a higher return for the inve stor at a lower risk due to having less personal finances ties up in the property (80% of the purchase price was provided by the mortgagee). By choosing a property intelligently, investors can make this form of investment work for them. However, as with all investments there are some disadvantages to be aware of. Disadvantages of investment properties Some potential problems to consider: * Liquidity It's true; you can sell the property if things go bad. However this can take many months unless you're willing to accept a price less than the property is worth.Unlike the stock market, you will have to wait for any financial rewards. * Vacancies There will be times when mortgage payments will need to be covered out of your own pocket due to your property being untenanted. This could just be a result of a gap between tenants or because of maintenance issues. * Bad tenants It's every investment property owner's worst nightmare: problem tenants. They can significantly damage your property, refuse to pay rent and refuse to leave. Disputes can sometimes take months to resolve. * Rising interest ratesIf your  investment loan  has a variable interest rate, there is always the risk of economic conditions causing interest rates to rise. If not properly budgeted for, rising interest rates could cause an investor financial stress where concerns of liquidity and quickly selling the property become a reality. When interested rates are on the up, liquidity in property markets starts to dry up. * Property oversupply In recent years, inner-city builders have created a glut of high-rise apartment blocks, resulting in fierce competition and many units being increasingly difficult to rent out. * Ongoing costsIn addition to the standard costs associated with a property, ongoing maintenance costs, especially with an older building, can be substantial. * Putting all your eggs in one basket If you have all your money tied up in property, overexposure to one particular type of invest ment can be a dangerous thing. If the property market crashes you can stand to lose significantly. * Capital Gains Tax Imposed by the Federal Government on the appreciation of investments and payable on disposal. * Other costs Negative gearing may offer tax deductions each financial year, however ongoing payments to cover the shortfall need to be budgeted for every month.Also, costs involved in purchasing and disposing of the property can be substantial. 2. 9 FOREX Overview If you read about investing, you've seen the word Forex trading. But because Forex doesn't get much publicity in the major publications and websites, many investors don't know that Forex is  just short for â€Å"foreign exchange†. So trading the Forex market is simply trading foreign currencies. As recently as ten years ago, currency trading had high barriers to entry, so only large bank in gland institutional firms had access to the tools and systems required to play in the Forex trading game.Recently, however, technology has developed to the point that any individual investor can hop right in and trade with one of the many online platforms. When buying and selling in the Forex currency trading system market, you'll see that there are four â€Å"currency pairs† that dominate the percentage of trades. Those four are the Euro vs U. S. Dollar, US Dollar vs Japanese Yen, US Dollar vs Swiss Franc, and US Dollar vs British Pound. The goal when investing in currency is to be holding a currency that appreciates in value in relation to the other currencies.To use an overly simplistic example, if you bought 50 British Pounds for 100 US Dollars, held the Pounds for 1 week, and in that period the value of Pounds increased in relation to US Dollars, you could then convert those Pounds back into dollars for, say, $120. Unlike the domestic stock markets, the Forex currency trading is open for trades 24 hours a day. Much like the phrase â€Å"it's always noon somewhere,† it's always business hours at some region of  the globe. Since every country trades on the FX market, and its open all day, the daily volume is roughly $1. trillion, which dwarfs that of the NYSE. Another comparison to make in order to truly realize the magnitude of the Forex market is with the currency futures market (which has around 1% of the daily volume). 2. 10 FIXED DEPOSITS The same as a term or time deposit. Money may be placed with a bank, merchant bank, building society or credit union for a fixed term at a fixed rate of interest which remains unchanged during the period of the deposit. Depositors may have to accept an interest penalty if they break the deposit, i e, ask to take the money out before the agreed period has expired.Few points which FD investors must consider at the time of investment: I. Safety: FDs have conventionally been the premier choice for investors with a low risk appetite; assured returns is the key factor which attracts investors towards deposits. Stick to F Ds of the highest credit rating i. e. those with a â€Å"AAA† rating even if their rates seem modest vis-a-vis those offered by company deposits. II. Tenure: Short tenured fixed deposits continue to be your best bet. With interest rates on the ascent, a further hike in rates offered by fixed deposits cannot be ruled out.Locking your investments in longer tenured instruments may lead to an opportunity loss. III. Liquidity: Find out how FD fares on the pre-mature encashment front i. e. how easily can your investment be liquidated. Also enquire about the penalty clauses, e. g. do you suffer a loss of interest and/or principal amount. Compare how various FDs rank on this parameter and pick the best deal; thereby try to minimize the impact of illiquidity which  is typically associated with FDs. IV. Additional benefit: Fixed deposits from reputed entities offer additional benefits, e. g. hey can be used as collateral against which loans can be raised. Select a fixed deposit schem e which scores favorably on such parameters. Any investment portfolio should comprise the right mix of safe, moderate and risky investments. While mutual funds and stocks are the favorite contenders for moderate and risky investments, fixed deposits, government bonds etc. are considered safe investments. Fixed deposits have been particularly popular among a large section of investors in India as a safe investment option for a long period. 3. RESEARCH METHODOLOGY 4. 1 Scope of ResearchThe present financial market is flooded with a lot investment instruments, viz. , Shares, Bonds, Mutual funds, Insurance plans, Fixed Deposits, other money and capital market instruments and also various options of investment in Real Estate and Commodity Market etc. Sometimes people refer to these options as â€Å"investment vehicles,† which is just another way of saying â€Å"a way to invest. † Each of these vehicles has its own positives and negatives and ultimate decision of investment is influenced by the individual investor’s perception regarding the risk and return of concerned investment opportunity available in the market.Further, the investment decisions is full of complexity because of volatility of market conditions, Inflation rate fluctuations, impact of Global environment, Cash reserve ratio, and Repo rates. Therefore, it is imperative to analyze these factors while taking an investment decision. Keeping above in mind, the study has been done to see the perception of investors which provides understanding to readers about the various factors which should be keep in mind at the time of investment.The study is useful to company in providing the understanding about the investors’ perception to devise the suitable product/marketing strategies, which would helps it in making  their policies or  strategies in order  to attract them. Further. Financial planner get  advent to  make portfolio  according to  response given by  respond ents, which belong to different occupations, having different income level, different age level or which instrument is mostly like by the investors for investment. The study would further helpful for readers in understanding about the various investment opportunities available in the market. . 2 Management Question Now a day there is immense competition available in the market for getting customers, and finance service providers are not except from this competition. The present financial environment provides ample opportunities of investment to the investors. The decision to invest in right instrument is too complex which can meet their expectations perfectly. In the present scenario, customers are aware about the most of the financial instruments available in the market, and also know the advantage and pitfall of every investment options.Different types of customer consider various parameters while investing. So it becomes crucial for the company to know the preference of every cus tomer. Some customer invests for the tax saving, where as other invests to gain capital appraisal benefit. So management of a company should consider the perception of customer regarding available investment option. The process of Customization becomes the difficult in convincing the customers. So this study helps the management to understand the awareness, preference, perception and adaptability towards different financial instruments. . 3 Objective of study Primary Objective: * To know the perception as well as preference of customers towards different financial instruments. Secondary Objective: * To know the advantage and disadvantage of different financial instruments * To know the various factors affecting investment options * To know the purpose of investment The money you earn is partly spent and the rest is saved for meeting future expenses. Instead of keeping the savings idle you may like to use savings in order to get return on it in the future. This is called Investment.I nvestment is ‘the act of committing money or  capital to an endeavor with the expectation of obtaining an additional income or profit. ’ There are ample Financial Instruments available in the market for investment; each instrument has its own features. To invest money in financial instruments is not so easy. It needs depth study where to invest so that their investment could be safe along with the growth of money. In present scenario everyone wants to invest his money but having their own different objectives. It may be growth of capital, tax minimization, retirement planning, to balance out inflation rate, safety etc.The investors always mess with these objectives which creates confusion of where to invest, which tendency they have to prefer at the time of investment, which factors which influence their investment decisions, how to plan their investment portfolio and to whom to prefer for taking that all decisions. So that study is based on investor’s percepti on regarding their investment. It includes what they think at the time of investment, what are the various factors they keep in mind at investment or affects their decisions regarding investment.The investment decision is very typical to take, as it needs proper planning. So the concept of financial planning has to be taken in this study. 4. 4 Research Design Descriptive Research: * Involves gathering data that describe events and then organizes, tabulates, depicts, and describes the data. * Uses description as a tool to organize data into patterns that emerge during analysis. * Often uses visual aids such as graphs and charts to aid the reader Descript