Financial Inclusion Essay Example for Free

Financial Inclusion Essay Role of Government in financial inclusion Abstract:- This research paper contains the full information about the financial inclusion of the world’s economic. In this research paper we describe the financial inclusion basic meaning, definitions, scope significance. Now we move towards the second phase which include role of government role of banks in financial inclusion. we also include the reforms that has been done by the government and the other government organizations . We also include the main article that has been given by the different ministers about financial inclusion its reform. Financial Inclusion Meaning: Financial inclusion is a policy adopted by many countries to include more people in the financial set up of the country. It aims at tackling poverty and deprivation in the country. In simple terms financial inclusion refers to making the finance or the financial/banking sector more accessible to people. For example: Debit cards, internet banking and direct debit facilities are now common, convenient and cheap ways of paying for goods and services. Yet there are still people who are excluded from using these services. People who are losing out as they are unable to take advantage of the benefits offered by the range of financial products available. In developing and poor countries like Bangladesh, Nepal, Afgan etc there are many people who do not even have a bank account or who are unable to take advantage of the loans and deposit benefits offered by banks due to various reasons like lack of knowledge, fear, lack of proximity etc. Today, personal debt is at a record igh and borrowing without a bank account means using high interest lenders. Many of the people in this position live in our poorest communities and find themselves without choice or access to basic financial services, making it even more difficult to find routes out of poverty. Defination: Financial Inclusion is the delivery of banking services at affordable costs to vast sections of disadvantaged and low income groups. Unrestrained access to public goods and servic es is the sine qua non of an open and efficient society. It is argued that as banking services are in the nature of public good, it is essential that availability of banking and payment services to the entire population without discrimination is the prime objective of public policy. The term Financial Inclusion has gained importance since the early 2000s, and is a result of findings about Financial Exclusion and its direct correlation to poverty. Financial Inclusion is now a common objective for many central banks among the developing nations. Financial Inclusion in India The Reserve Bank of India setup a commission (Khan Commission) in 2004 to look into Financial Inclusion and the recommendations of the commission were incorporated into the Mid-term review of the policy (2005-06). In the report RBI exhorted the banks with a view of achieving greater Financial Inclusion to make available a basic no-frills banking account. In India, Financial Inclusion first featured in 2005, when it was introduced, that, too, from a pilot project in UT of Pondicherry, by K C Chakraborthy, the chairman of Indian Bank. Mangalam Village became the first village in India where all households were provided banking facilities. In addition to this KYC (Know your Customer) norms were relaxed for people intending to open accounts with annual deposits of less than Rs. 50, 000. General Credit Cards (GCC) were issued to the poor and the disadvantaged with a view to help them access easy credit. In January 2006, the Reserve Bank permitted commercial banks to make use of the services of non-governmental organizations (NGOs/SHGs), micro-finance institutions and other civil society organizations as intermediaries for providing financial and banking ervices. These intermediaries could be used as business facilitators (BF) or business correspondents (BC) by commercial banks. The bank asked the commercial banks in different regions to start a 100% Financial Inclusion campaign on a pilot basis. As a result of the campaign states or U. T. s like Puducherry, Himachal Pradesh and Kerala have announced 100% financial in clusion in all their districts. Reserve Bank of India’s vision for 2020 is to open nearly 600 million new customers accounts and service them through a variety of channels by leveraging on IT. However, illiteracy and the low income savings and lack of bank branches in rural areas continue to be a road block to financial inclusion in many states. Apart from this there are certain in Current model which is followed. There is inadequate legal and financial structure. India being a mostly agrarian economy hardly has schemes which lend for agriculture. Along with Microfinance we need to focus on Micro insurance too. The scope of financial inclusion The scope of financial inclusion can be expanded in two ways. ) through state-driven intervention by way of statutory enactments ( for instance the US example, the Community Reinvestment Act and making it a statutory right to have bank account in France). b) through voluntary effort by the banking community itself for evolving various strategies to bring within the ambit of the banking sector the large strata of society. When bankers do not give the desired attention to certain areas, the regulators have to step in to remedy the situ ation. This is the reason why the Reserve Bank of India is placing a lot of emphasis on financial inclusion. In India the focus of the financial inclusion at present is confined to ensuring a bare minimum access to a savings bank account without frills, to all. Internationally, the financial exclusion has been viewed in a much wider perspective. Having a current account / savings account on its own, is not regarded as an accurate indicator of financial inclusion. There could be multiple levels of financial inclusion and exclusion. At one extreme, it is possible to identify the ‘super-included’, i. e. , those customers who are actively and persistently courted by the financial ervices industry, and who have at their disposal a wide range of financial services and products. At the other extreme, we may have the financially excluded, who are denied access to even the most basic of financial products. In between are those who use the banking services only for deposits and withdrawals of money. But these persons may have only restricted access to the financial system, and may not en joy the flexibility of access offered to more affluent customers. Steps towards financial inclusion

Censorship in Media Essay -- Media Censoring News TV Essays

'Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press' (United States Constitution 1789). Throughout the history of the United States of America, the Constitution has always been put to the test. The founders of this country created the first amendment to allow colonists to speak out against the British. In the 17th century, the press was accurate and informative with little competition among journalists. But today in the 21st century the circumstances are different and the stakes are higher. Due to the great level of competition among journalists today, the news is often exaggerated in order to capture a larger viewing audience. Censorship is defined as 'Policy of restricting the public expression of ideas, opinions, conceptions, and impulses, which are believed to have the capacity to undermine the governing authority or the social and moral order which authority considers itself bound to protect? (Abraham 357). Political, religious, obscenity, and censorship affecting academic freedom are all equal in their destructiveness towards free speech. ?There are two different forms that censorship takes; prior, which refers to advance suppression and ?post facto? which is suppression after it has been published? (Calvocoressi 10). Since the beginning of the written word, authorities have used both of these forms of censorship. The media is everywhere you turn. You can find the media in many different forms such as television, radio, magazines, newspapers, and now on the information superhighway, the Internet. In the process of capturing ratings, who is the media hurting more? Is it the people who are accused of a crime, such as O.J. Simpson, or is it the American public?s own fault for believing everything they hear? In my view, some limitations greatly need to be placed upon the first amendment of the U.S. Constitution in regard to freedom of the press because presently the media is doing more harm than good. The job of the media is to find the truth and tell it to the people. The media has the power to inform the public, but often the information they receive is distorted. The media has shaped our view of society and the process by which we choose our leaders, make our rules, and make up our values. The media has the power to encourage people t... ...nated by lies and gossip, then the press will continue to print it. Works Cited Abraham, Henry J. ?Censorship.? International Encyclopedia of the Social Sciences. 1968 ed. Calvocoressi, Peter. Freedom to Publish. Atlantic Highlands: Humanities Press, 1980. Corry, John. ?Fairness Most Foul.? The American Spectator November 1993: 50-51. Deskowitz, Paul. Emergence of a Free Press. Oxford: Oxford University Press, 1985. ?FCC Tags Stern.? Newsweek 28 December 1992: 65. Gabler, Neal. ?OJ; the News as a Miniseries.? TV Guide. 30 July 1994: 12-17. Holden, Stephen. ?The Media Monster Lurking Within.? Newsweek 1 October 1995: 15. Lewis, Peter. ?About freedom of the Virtual Press.? The New York Times 2 January 1996: B14. Nachman, Louis. ?About the media Circus.? The New York Times 26 June 1994: 26. Orr, Lisa. Free Press, Free People, The Best Cause. London: Columbia University Press, 1971. Shank, Joshua. ?Limbaugh Lies II.? The New Republic 8 August 1994: 9-10. ?Simpson Criticizes Media.? Jet 12 February 1996: 38-40. Szykowny, Rick. ?Bewildering the Herd.? The Humanist November 1990: 8-9. Williams, Patricia. ?Hate Radio.? Ms. March 1994: 25-29.

AG Sredit Essay

1. Propose an organizational structure for the IT department that you feel would support the transformation of AgCredit into a process-centric organization. Recognition of business ownership will be vital to the organizational structure. Having the business sign on and join the conversation about IT and related projects will be instrumental. A steering committee will be need to be part of the approval process of all projects is needed to make sure an enterprise view is taken. The multidivisional committee will need to ensure all projects fit within a SOA framework. The CIO should be involved in the boardroom and have access to senior management, including the CEO. The CIO should hire senior management that can convey departmental and business objects and help guide IT employees. Account managers for each LOB that reside in the business but report to senior IT management should be installed. The entire IT staff will need to be reassessed to ensure the proper people are in the right job roles. The IT function will need to be brought in alignment with the enterprise vision. One option is to try to promote internally for vacant IT positions and insource the roles that cannot be filled. Insourcing will have the distinct advantage of training IT personnel while getting the job done as well. Outsourcing IT functions that are not core competencies can also be employed if desired. AgCredit should appoint a CEO who is responsible for carrying out the strategic plan and will ultimately responsible for managing company operations coupled with a Vice President would oversee operations, carry out the strategic plan set forth by the CEO, and manage the four separate divisions. The CIO would direct the IT department, which would include several IT senior leaders, as well as guide the company’s technological direction. The CFO would be largely involved with both the business and IT departments, helping to give a deeper understanding of cost components and act as an advisor to both IT and business regarding legacy software and future projects. A business analyst would be the link between the IT and business departments, matching technology to business needs, and predicting future business directions. The IT relationship manager would be the connection between the business and IT departments and would ensure the IT governance is translated into business terms. Other staff could include an applications architect who would design applications, implement middleware and infrastructure; and a Network manager who would direct daily IT operations, test, deploy, and integrate network systems. A steering committee will be needed to be implemented as part of the approval process of all projects. 2. Outline a project selection process for AgCredit to ensure alignment with the enterprise business vision. As mentioned in the last question, a steering committee that represents many LOBs will need to be formed and giving decision making capabilities. The process should begin by examining how a project ties to the overall vision of the company. Next the committee members should outline how the project effects their division and could be used to meet departmental needs if possible. Additionally it will need to make sure it fits within the SOA and is not duplicated by other software nodes or current processes. If it is an enhancement or add-on to another project, communication with the end user to see potential benefits should begin. Making sure it can be modularized and standardized for the business will be vital for the organization’s architecture. Additionally making sure all project types are considered and funded through a tax upon all LOBs will be required to support SO A. 3.How should Manley â€Å"make the case† for SOA to ensure that the executive team at AgCredit buys in? Manley will need to present the key strengths of SOA and make sure to focus on how it will support the company’s vision and goals. The transition will simplify the organization and speed up product implementation. Current services and products will be available or modified for usability. It supports web services that align with continuous growth opportunities, expanded customer relationships, and ability to cross-sell between the divisions. It will immediately offer up opportunities for the divisions both in terms of possible financial gains and stretching development dollars. Existing services can be purchased and implemented quickly within the SOA. This increases our capabilities and ensures we stay  caught up with the larger firms. In essence this can level the playing field providing valuable resources and systems. Once the customer information is centralized, which is required for SOA, the savings from reducing database needs will be realized. Having common processes will align the business as a whole and ensure value from increased communication and decreased uncertainty. This kind of technology base may allow the way we work to change, for example working from home or on the road working through a VPN. 4.What new internal IT capabilities will have to be developed in order to create an IT department to support AgCredit’s future business architecture? The capabilities needed to support the SOA from the IT perspective are management tools, information management tools, Information delivery options, development cycles, and a customer service attitude toward the divisions. Role clarification will be important in setting up these capabilities. Management tools include visioning and business alignment processes, funding methods, measurement metrics and focus, and monitoring methods. Information management tools include collection activities, organize process including schemes and taxonomy, process modules to use the information, and maintenance procedures that support business functions. Development cycles must conform to SOA standards and guidelines, using compliant hardware and software to make systems that breakdown the functionality, and complaint with regulatory needs, including system proficiency in creating reports for audit purposes. The customer service attitude will be needed to manage perceptions and keep close ties with the business. 5.What aspects of IT governance do you think would be important in supporting this transformation? Before governance structures are formalized the enterprise and divisional vision and objectives should be outlined. With IT working alongside the business some guiding principles must be drafted up. This may involve setting up account managers within the LOB and forming a multidiscipline steering committee with considerable decision power. This steering committee should work closely with the CIO and have high level approval and corporate sponsorship. The governance system should focus on  guiding the transformation process and keeping key issues in focus, such as sox and regulatory compliance. Stakeholder involvement in the steering committee will help the business and IT structures become partners and work together. It will ensure all voices are heard and considered in the decision making process. They should outline policy decisions that support the organization’s vision earl y on.

Dna Testing And The Process Of Solving Crimes - 1481 Words

DNA Testing Today DNA is used for the process of solving crimes, and it all started in England. In the early 1980 s in the English countryside the police were trying their hardest to find the man who was raping and murdering young teenage girls. The police had used all their resources and the investigation had reached a devastating end until they relied on one scientist who had invented what is now used with almost every crime today. On the evening of November 21, 1983, Lynda Mann was walking to visit a friend who lived in the same town as her, Narborough. As she was walking along Forest Road, which was near Blackpad Footpath, Colin Pitchfork was driving around trying to calm his young child that he was in charge for the night. Pitchfork noticed that Mann was walking alone, parked his car and left his now sleeping baby in the car, and chased after Mann. When Pitchfork approached Mann he exposed himself and as she started running he grabbed her and raped her. Scared that she would notice him he strangled her with her own scarf. Mann s body was found the next day on the grounds of Carlton Hayes Hospital near Blackpad Footpath, where Pitchfork was ordered mandatory counseling classes after exposing himself to a young girl before he was married. Pitchfork was questioned after the murder and had no alibi, but the cops overlooked him saying that he was taking care of his young son and could not have been in two places at once. Blood samples were taken from Mann s body, butShow MoreRelatedDna Evidence Of A Dna Unit Within A Crime Lab1551 Words   |  7 PagesToday in the crime world, DNA evidence is strongly accepted in solving crime cases. This is all based in part by allowing a crime laboratory to have a designated unit whose main goal is to analyze DNA evidence to aid investigators with positive outcomes in crime case solving. With that being said we are going to discuss the functions of a DNA unit within a crime lab as well as address the vital role these units play in solving crime. Let’s start by defining what in fact is DNA analysis. AccordingRead MoreDna And The Criminal Justice System872 Words   |  4 PagesDeoxyribonucleic Acid, otherwise known as DNA has played a crucial part in many investigations both past and present. It can be used to identify criminals when there is evidence left behind with incredible accuracy. DNA evidence is taken seriously enough that it can exonerate, or bring about a conviction. In Today’s society DNA evidence and technology is vital to the criminal justice system by ensuring accuracy and fairness. In 1984, Alec Jeffreys of the University of LeicesterRead MoreEssay on DNA in the Forensic Science Community1500 Words   |  6 Pagesacid (DNA) collection and its relationship to solving crimes. The collection of DNA is one of the most important steps in identifying a suspect in a crime. DNA evidence can either convict or exonerate an individual of a crime. Furthermore, the accuracy of forensic identification of evidence has the possibility of leaving biased effects on a juror (Carrell, Krauss, Liberman, Miethe, 2008). This paper examines Carrells et al’s research along with three other research articles to review how DNA isRead MoreEnhancing the Power of DNA as an Investigative Tool Essay2104 Words   |  9 PagesDNA is a double helix molecule that contains information that is used to make up a person’s body. DNA controls every aspect of a person’s body from their eye and hair color, height, and other features. DNA’s specific and unique characteristic can be crucial when solving a crime. DNA can be used to convict a suspect or exonerate an innocent person. When DNA is found it is even more important that is handle properly to ensure proper identification and accuracy of testing. The evolution of DNA technologyRead More DNA testing Essay927 Words   |  4 Pages DNA testing has overthrown the way police collect evidence in a number of criminal cases, especially rape and murder and consequently had a large impact on many past cases. However there are many disadvantages to DNA testing, such as a challenge of accuracy, the costs of DNA testing and the possible misuse of DNA. The prospect of a national DNA database in Australia has been heavily criticised with complaints of invasion of privacy and stigma against those with terminal diseases. DeoxyribonucleicRead MoreHair Analysis : Forensic Science966 Words   |  4 Pagesstrands per day. It is due to this occurrence that hair is ultimately discovered at the crime scene. Crime scenes have had its fair share of hair collection. At a crime scene a technician can recover hair from a victim or perpetrator’s head, eye lashes, eye brows, pubic hair or even animal hair. Through further analysis and testing after a crime has occurred hair can be used to rule out whether or not a crime ever taking place and who is responsible. As science and technology progressed over theRead MoreLucille Johnson Murder Case Study1470 Words   |  6 Pagesâ€Å"the members of the Salt Lake County Sherriff’s Office, who arrived on the scene of the crime said, that whoever killed Johnson was a monster or an animal because no human could have brutalized another person like that† (Montgomery, 2014). The investigation went underway to find who could possibly commit such a horrific crime. The day of the investigation was not such a successful day for such a horrific crime. The Salt Lake Tribune stated, â€Å"during the investigation, officers found Lego toys onRead MoreHow DNA Helps to Solve Crimes Essay566 Words   |  3 PagesDeoxyribonucleic acid (DNA) has been used to analyze and prove innocence or guilt of suspects of crimes with great accuracy. DNA is part of everyday life. It is the heredity material in humans and almost all other organisms. While being part of an investigation. DNA has helped to solve crimes. There is a couple ways that DNA left behind can be tested to solve a crime. Either if the suspect has been caught and or had his or her DNA tested, or if he or she has left behind any biological evidence. WhichRead MoreWhat physical evidence does in a criminal trial and the vast impact it can make1678 Words   |  7 PagesIn the criminal justice system, the best chance of a fair trial and justice lies within cases that include physical evidence. Physi cal evidence, whether fibers, fingerprints, or DNA, can give a jury proof beyond a reasonable doubt. Physical evidence can convict a criminal, or it can free an innocent man. It can bring closure to families and to the law enforcement that work the cases. The following cases will show what physical evidence does in a criminal trial and the vast impact it can make. ForRead MoreThe Fallibility of Partial DNA in Courts1591 Words   |  6 PagesDNA’s certainty is dramatized in today’s society, which gives lay people the impression that DNA is infallible; however, in the case of Wayne Butler and others, the fallibility of DNA is exposed. Wayne Butler was accused of sadistically murdering Natasha Douty who was found beaten to death on Brampton Island in 1983. Wayne Butler was vacationing on Brampton Island during the timeframe of the murder; however, claimed to be jogging during this time. After submitting a blood test, Butler was eliminated