Feminism Essay

Feminist ideas of freedom suggest that outside social forces that are repressive can corrupt an individual’s desires and limits their thinking abilities. Jean Grimshaw was a feminist philosopher who analyzed this concept. Grimshaw with other feminists believed that these repressive forces come from male domination in society. Questions about the self are important to feminists because they are constantly trying to figure out a woman’s autonomy. Feminist philosophers have come up with many approaches to the self. Jean Grimshaw goes back to an argument from Aristotle. Aristotle questions what makes people do things voluntarily and out of free will. Aristotle says that that actions that originate from inside the self are desires or intentions and actions that originate from outside are not. Jean Grimshaw however questions whether those desires that come from outside are not really one’s own desires. There is a constant conflict between internal and external constraints. Feminist authors such as Mary Daly, Marilyn Frye and Kate Millet wrote books on how women have been conditioned in their thinking by men, therefore cannot have their own desires. Feminists agree that women are deprived of their free will because men treat them as robots and this changes a woman’s personality. Based on the books of these three authors there is many things to conclude about the self. The self is aware of its interests, it is altered because of the interference of male domination and the only way to really have a true self is to fight against those social effects of domination. A woman must understand the changes they are going through by men in society in order to reveal the self. I believe that if someone is constantly thinking that there are outside forces that disable form being they they must change that. If the male society undermines women, and women continue to accept it then they are not following their own desires. One must understand the constraints that they are dealing with in order to make independent choices to be liberated.

JetBlue †Start from Scratch

One of JetBlue’s top priorities is its workforce. Managing this sector of the company is very essential in order for them to achieve their goals. Human resource management is responsible for how people are treated in organizations. It is accountable for bringing people into the organization, guiding them perform their work, compensating them for their labors, and solving problems that arise. There are seven management functions of a human resources (HR) department these are staffing, performance appraisals, compensation and benefits, training and development, employee and labor relations, safety and health, and human resource research. Equal Employment Opportunity Laws Employment law is a broad area encompassing all areas of the employer/employee relationship except the negotiation process covered by labor law and collective bargaining. Employment law is governed by thousands of federal and state statutes, administrative regulations, and judicial decisions. Some of the topics included in employment law include: †¢ Collective Bargaining †¢ Employment Discrimination †¢ Unemployment Compensation †¢ Pensions †¢ Workplace Safety †¢ Worker's Compensation (US Legal Definitions) The hiring practices of JetBlue shows their compliance to the following equal employment opportunity laws: Title VII of the Civil Rights Act of 1964 (Title VII), which prohibits employment discrimination based on race, color, religion, sex, or national origin. Second the Equal Pay Act of 1963 (EPA), which protects men and women who perform substantially equal work in the same establishment from sex-based wage discrimination. Third is the Age Discrimination in Employment Act (ADEA) prohibited employers from discriminating against individuals who were 40 to 65 years old. As the paper progresses, it can be determined how these laws impact the hiring practices of JetBlue. Recruitment Recruitment is the process of attracting individuals on a timely basis, in sufficient number, and with appropriate qualification, to apply for jobs with an organization. (Mondy, 2008, p. 126) Both the job description and the job specification are useful tools for the staffing process, someone or some event within the organization usually concludes a need to hire a new employee. In large organizations, an employee requisition must be submitted to the HR department that specifies the job title, the department, and the date the employee is needed. From that point, the job description can be referenced for specific job associated qualifications to present more detail when advertising the position either internally, externally, or both the HR department should not only attract qualified applicants through job postings or other forms of advertising, but it also assists in selecting candidates' resumes and bringing those with the proper qualifications in for an interview. The final decision in choosing the candidate will probably be the line manager's, assuming all Equal Employment Opportunity Commission (EEOC) requirements are met. Other continuing staffing responsibilities entail planning for new or changing positions and evaluating current job analyses and job descriptions to ensure that they accurately reflect the current position. Internal Recruitment Human-resource planning is the first step in effective human-resource management as it involves forecasting the human-resource needs of the organization and planning certain useful and important steps that the organization must take in order to meet those human resource needs that will contribute a high percentage for its overall success as human-resource planning should be connected to the organization’s strategic objectives and mission. (Butensky and Harari, 1983) Anne Rhoades, Executive Vice President for People of JetBlue, started her portion of the orientation program by describing the three things that she believed all employees had to do if they were to be successful with JetBlue: 1. They had to show up and be production 2. They had to be safe, which meant no alcohol or drugs 3. They had to be customer-oriented. Anne Rhoades, also developed a customized human resource management approach that adapted jobs pay and benefit packages to distinct needs of different employee groups, but was deliberated to guarantee overall equity in treatment. Some employee groups were concerned about current compensation while others worried about retirement. Employees will not receive the same package. In Rhoades’ view, conventional HR departments often do what makes their lives easier, not what the employees necessarily want. The objective at JetBlue was to provide customized pay and benefit packages that met or exceeded the industry standard. There are no probationary periods because benefits started from day one, which Rhoades found probationary period associated with unions because it is actually demeaning for the employees. Benefits for full time employees included medical benefits and personal time off relatively than the conventional holidays with double pay for those who worked on the holidays. These customized employment packages gave JetBlue the able to attract and keep good employees and became JetBlue Internal recruitment. Happy employee would tell others in the industry. An example of the can be seen in the internal recruitment of pilots, because JetBlue cover the cost of the seven weeks of pilot training for qualification on the A320 airbus at a cost of roughly $30,000, by word of mouth this traveled to other pilot in the industry, and there would apply of the position at JetBlue (Gittle & O’Rielly 2001) External Recruitment In the beginning David Neeleman, the founder of JetBlue, recruited his management team from the veterans of the industry who were looking for a chance to start from scratch and â€Å"do it right†. His record of success in the industry and the funding he had, able Neeleman to recruit some of the industry’s top management talent, namely Ann Rhoades, JetBlue executive vice president of human resources. Most of their job vacancies are filled by recruiting people from outside the company or those workers from another firm or organization, people who have never worked before, or people who are unemployed. The reservation agents were recruited from ads in the Salt Lake City Newspaper. From the ad in the Salt Lake City Newspaper JetBlue has a waiting list of 2,500 interested applicants. In order to attract potential employees outside the company, the customized employment packages Personnel Selection In an interview with a mechanic, he was asked to think of a time that â€Å"integrity† was an issue in his previous employment, he answered as a junior mechanic that he got a plum job at major airline, he was pressured to confirm an aircraft for an international flight, even though it was not in complete compliance. He then declined to â€Å"sign-off† on the airplane and the flight was delayed, which caused annoyance to the management. The mechanic was afterward let go and that reflects the displeasure of his superiors, but he was hired by JetBlue despite of the story, because he was able to prove that he manifested the value of integrity. At another interview scenario, wherein a pilot was asked to talked about a time he or she had a customer request which is in conflict with the policies of the company and what actions he/she had taken, but with an answer that reflects arrogance, the potential hiring of the pilot was refused, mainly because JetBlue is not only looking for skills but a great deal for character and attitude. Performance Appraisal Another function of the human resource management comes in when a talented employee is brought into an organization and it is creating an environment that will motivate and reward commendable performance. One way to evaluate performance is through a formal review on a periodic basis, generally annually, known as a performance appraisal or performance evaluation. Line managers are usually the ones who conduct the appraisals because line managers are in daily contact with the employees and can best measure performance. Other evaluators of the employee's performance can include subordinates, peers, group, and self, or a combination of one or more (Mondy and Noe, 2008 p. 250). To influence employees' performance, they should be aware of how and why the company exists and to know the company's aspirations. The employees should show-up and be productive, they had to be safe, meaning they should not be under the influence of neither alcohol nor drugs and they should also be customer-related and as the company grow, they should have more formal trainings and development processes for the employees. Employee attitudes are the final factor that determines productivity and may well have the strongest effect on the productivity of the organization. Because employees are the means by which the organization's goals are attained, they compel a company's success or failure. Employees' abilities and motivation are as important as their educational levels. To some degree, workers' efficiency is also accustomed by their political, social, personal, and religious beliefs, factors which can be deepened either positively or negatively by management practices and policies. 360-Degree Feedback. Methods of performance appraisal that involves evaluation input from multiple levels within the firm as well as external sources. Multiple raters makes the process more legally defensible. (Mondy, 2008, p. 253) Moving away from traditional feedback system where only a single manager or supervisor evaluates an individual based on their overall perspective of performance, and instead seeks input on specific competencies from several people who have a working relationship with the individual being assessed; JetBlue makes use of the 360-degree feedback evaluation as a performance appraisal method. This method provides objective, well-rounded views, expressed by a number of colleagues, Increases involvement of people at all levels of the organization, direct reports and peers, rather than managers/supervisors are better to judge some skills, such as leadership, increases understanding of the behaviors required to improve both individual and organizational effectiveness, individuals can better manage their own performance and careers, evaluators are able to respond confidentially and anonymously, feedback can provide organizational value, allowing the company to identify needs and set goals for organizational development and internal training. JetBlue being sensitive to communication within the firm, adopts the 360-degree feedback evaluation, the management ensures having ‘one-on-one' conversations at least once a quarter in their 20 locations. The supervisor is considered to be an important component of communicating with the front-line, from this view, JetBlue formed the Tiger Teams which would initiate communication to solve problems that a raised in any area of the company. They referred their employees as â€Å"crew member† and the supervisors as â€Å"coaches† being sensitive to the power of language. JetBlue is able to unite its people as a team, wherein everyone communicates and participates to solve a problem, instead of blaming someone and not doing anything at all, from this point, JetBlue will be able to assess which employees are proactive and receptive when it comes to problem solving, they can measure the employees’ aptitude in order to determine who deserves appraisal on their work performance. Financial Compensation Financial compensation for employees can be determined by having high consideration to the following factors: productivity associated with employee performance, employees’ flexibility in responding to company’s internal and external changes, and the level of their organizational competencies and on their perceived value at a particular given time. These three factors can be effective use in the performance appraisal as these set the criteria in evaluating the employees. Compensation can be a catch-22 because an employee's performance can be subjective by compensation and benefits, and vice versa. In the ideal circumstances, employees feel they are paid what they are worth, are rewarded with sufficient benefits, and receive some intrinsic satisfaction. Compensation should be legal and ethical, adequate, motivating, fair and equitable, cost-effective, and able to grant employment security (Mondy, 2008, p 314). Discretionary Employee Benefits The law requires some benefits, but organizations voluntarily provide numerous other benefits such as: Paid Vacation There are no U. S. laws that require employers to offer vacation pay. Whether an employer offers vacation time off with or without pay is strictly voluntary for employers, but many offer it as a benefit to attract and keep employees. If employers do offer vacation pay, the terms regarding an employee's rights to it is governed by the individual employer's policies or employment contracts. Some states have laws requiring an employer to offer any accrued vacation pay when employment ends. However, failure to follow an employer's guidelines regarding termination of employment, such as giving notice, may deny the employee's right to accrued vacation pay. (us legal definition) Sick Pay and personal days Sick leave and personal days are a form of employment benefit in the form of paid time off for illness or to deal with a personal/private matter. Since nearly everyone occasionally needs such time off, all businesses should have a clear policy established regarding sick leave and personal days. A sick day is fairly self-explanatory and can be used for everything from a common cold to a more serious illness that could require hospitalization or even surgery. Personal days can cover things like the illness of a child, a death in the family, jury duty, military obligations, or religious holidays. Most companies also allow vacation time for employees in addition to their set amount of sick leave and personal days. (US legal definition) Education Assistance Educational Assistance is employment benefit in form of reimbursement of Educational courses tuition and/or books that are completed with a grade of â€Å"C† or above. (Mondy, 2008, p 326) JetBlue Discretionary Benefits. JetBlue offers different compensations; along with it are the benefits which include medical coverage, holiday pays, pay for extra working hours without any limitation from any company probations. For JetBlue to craft an esprit de corps that was fun for crew members and customers. This means staying focused on people and keeping the company union free. Anne Rhoades agreed, highlighting that a team environment depends on not having big distinctions between the line and management and work rules. The most important element in managing the company’s human resource is caring. JetBlue wants to care about their people from end to end. It is real and not just pretending. It does not mean there need to stay forever, and it does not mean to give equal training to all. The workforce is the organization's greatest assets; without them, everyday business functions such as managing cash flow, making business transactions, communicating through all forms of media, and dealing with customers could not be completed. The employees and the potential they possess drive an organization. Today's organizations are constantly changing. Organizational change impacts not only the business but also its employees. In order to maximize organizational efficiency, human potential individuals' capabilities, time, and talents must be managed. Human resource management works to ensure that employees are able to meet the organization's goals. JetBlue makes use of a very unique way of managing their human resource. They are indeed unconventional and exceptional in hiring and compensating employees. It is evident enough to conclude that their human resource management is indeed effective and efficient because within less than 10 years of existing in the airline industry, they were able to make a name, because of their success and they are able to have sustained growth along the years all because of having a productive environment for their well-motivated employees. It is also clearly evident that JetBlue is socially responsible when it comes to hiring people, because they are able to provide equal employment opportunities for diverse groups of employees, ranging from those who want short term to long term employment, from students, to graduates and to those who are working home-based who may want to have extra income for their households, JetBlue offers excellent compensations and benefits.

Creating value

When it comes to the housing finance sector in India, one name stands out distinctively: HEAD – a market leader and an innovator. We have consistently revised the benchmarks of housing finance products and services. Being a pioneer and leader in a nascent market has not stopped us from aspiring for challenging goals. The World Bank considers us a model private sector housing finance company in developing countries. We provide consultancy services and technical assistance for ewe and existing institutions.Our executives undertake consultancy assignments related to housing finance and urban development directly or on behalf of international agencies worldwide. We also share our expertise through Training Programmer at our own Training Centre in Loan, India or at the client's location. Delegates from several countries have benefited from participating in these programmer. A senior executive of HEAD was the former President of the International Union for Housing Finance (UHF), whi ch is a non-profit trade association, with members from 60 countries worldwide.The objective of JIFF is to make housing credit affordable and more available around the world. On the domestic front, our executives help formulate national housing policies and strategies. In fact, we have been invited by the Government of India to Join a number of committees and task forces related to housing finance, urban development and capital markets – a task that we are proud to be part of. HEAD Centre for Housing Finance Our training facility, Centre for Housing Finance (CHEF), is located 120 SMS from Iambi, in the tranquil environs of Loan, a hill station, 2,000 feet above sea level.Some of the key features of our Centre are: State-of-the-art technology in the training rooms Syndicate rooms for group work Well-equipped library Residential accommodation that provides comfort and relaxation Dining facilities offering a variety of cuisine Indoor and outdoor recreation facilities Technical A ssistance (TA) The objective of the TA is to offer specific deliverables and support the Client in all aspects relating to mortgage finance operations which include loan origination and recoveries, marketing and distribution strategies, accounting and management information systems, resource manipulation and information technology support. Who would review and advise the Client on products, systems and procedures, including developing new products and designing marketing strategies. These experts would visit the Client and work closely with its officials to understand the external environment in which the Client functions and thereafter make recommendations visa-avis strategies, products, policies, systems and procedures. Our experience makes the difference Training Programmer Our training programmer are specially designed to be a blend of learning and practical experience. We offer a variety of training courses for senior and middlemen management executives and line staff.Some key programmer offered are: Housing Finance Management Loan Origination and Credit Risk Management Managing Customer Service in Financial Organizations Building High Performance Teams Resource Manipulation – Issues in Managing and Marketing Training The Trainers – A Multi Dimensional Workshop We also custom- design programmer based on organizational needs. Training specific Current Programmer Housing Finance Management – 2010 (HEM-2010) November 28 – December 5, 2010 at CHEF, Loan, India. The week long residential programmer on Housing Finance Management encompasses all the prime functions of a specialized Housing Finance Institution. Through specialized modules, the programmer will focus on various housing finance systems and best practices, credit evaluation, emphasis on customer needs, product development, marketing, managing competition and distribution channels, effective internal control systems and mechanisms, resource manipulation and risk management systems.In addition, a field visit to an HEAD office will also give participants a practical perspective of the housing finance business. HEM-2010: Programmer OutlineDay 1 : Sunday, November 28, 2010 w Assembling ; BondingDay 2: Monday, November 29, 2010 w Introduction to the programmer w Overview of Housing Finance Systems w Loan Origination and Assessment of RiskDay 3: Tuesday, November 30, 2010 w Product Development, Marketing and Distribution Channels w Legal and Technical Appraisal w Developer/Builder Relationships and ProductsDay 4: Wednesday, December 01 , 2010 w Loan Accounting Practices – Systems and Controls w Credit Risk Management w Process Development for Efficient Credit Risk ManagementDay 5: Thursday, December 02, 2010 w Day visit to an HEAD officeDay 6: Friday, December 03, 2010 w Corporate Functions – Management Information Systems w Business Strategy and Budgeting w Managing Service Delivery ProcessesDay 7: Saturday, December 04, 2010 w Resource Manip ulation w Risk Management Systems and Development of Secondary Mortgage Markets w Open House SessionDay 8: Sunday, December 05, 2010 w Departure from CHEF, Loan v Subject to change Fees: US $ 3,000* for first participant. US $ 2,750* from second participant onwards accommodation, refreshments during breaks, meals, training costs, course material and to and fro airport transfer. Note: Accommodation will be on a double occupancy basis. For single occupancy** an additional amount of IIS$ 750 plus service tax @ 10. 30% will be charged. ** Subject to availability What our participants said†¦ Feedback from Housing Finance Management Programmer The classroom experience was invaluable in opening up all aspects of Housing Finance Management.I have taken with me many insights that I intend to apply to what I hope will be a long career in Housing Finance. The free flow of ideas from participants representing 1 5 countries and 17 organizations also added immensely to he richness of the pro grammer. Cynthia Kanata, Housing Finance, Kenya (WFM 2007) It was a very wonderful experience at the HEAD Training Centre, where there was an optimal combination of knowledge gaining, sharing of experiences and recreational activities all in the perfect environment. The content of the programmer was so fruitful and have surely added value to our products and services, not forgetting the delicious meals and accommodation.Jackson Alfred Aloha Zinnia Bank Ltd, Tanzania (WFM 2008) I have attended similar programmer where the tuition cost is more than he entire programmer at WFM but in many cases those programmer were a mere rehearsal of academic notes of the Presenter. WFM 2008 was different in content and methodology; it was very practical in every respect and my reality on housing finance has since changed positively. Joseph Alphorns Tutor Jacobean, Loom Togo (WFM 2008) It was a great pleasure to visit India for the first time – an experience I'll never forget. The programmer w as successful. We shared our experience, knowledge and ideas with each other. Mar Beheaded Egypt Housing Finance Company Egypt (WFM 2009) My experience exceeded my expectations.I am really touched by the level of knowledge, passion, commitment and insight of the people at HEAD, and the opportunity to share experience with other participants. Islam Nominal PIED of Bangladesh Ltd. Bangladesh (WFM 2009) The course was an eye opener in terms of mortgage lending. It gave me a broader understanding of the various aspects of housing finance. Interacting and learning from various participants showed me that we all had a similar goal/objective that is providing shelter to everyone. Margaret Musher Zambia National Building Society Zambia (WFM 2009) The training was an experience of a life time. I learnt a lot during my interaction with the experts and participants from different countries. Apart from that the network of friends that I made will be cherished for life time.

How Newspapers and magazines can profit through online social networks Essay

How Newspapers and magazines can profit through online social networks (eg facebook) and expend their marketing - Essay Example In a qualitative study that attempts to explore the many ways in which users are experiencing the use of Facebook and Twitter in reference the The Sun and The Daily Telegraph, the ways in which the newspaper industry can find advantages to using online social networks will be examined. The explosion of the internet into a global phenomenon of information has created a substantial increase in the way that businesses can communicate about their services. As a business, the newspaper industry has the opportunity to take advantage of a great many advantages that the rise of social networks has provided. Services such as Facebook and Twitter provide a forum that can act as both a promotional tool and an outlet for information that the newspaper wishes to share. As well, the community can utilize the information in such a way as to create informed choices as to which newspaper represents their point of view in reporting. The study that is being undertaken has been designed to discuss the use of social networks, specifically Facebook and Twitter, in order to understand the way in which these two networks provide advantages to the readers for newspapers. Without an understanding of the experience, it will be more difficult in future research to interpret quantitative values. Therefore, this study has been designed to use a phenomenological approach in order to study the experience of the readership, rather than to only explore the statistical relationships. In using this form of research, it is hoped that a more clear understanding of the use of social networks for the media can be established. The study will use the interpretive stance on phenomenological research in order to provide the framework in which the study is developed. According to Bryman and Bell (2007, p. 20), the interpretive stance on phenomenological research can be determined through a sense of empathetic

Describe the methods used to calculate value added. How does value Essay - 1

Describe the methods used to calculate value added. How does value added contribute towards understanding the connections betwee - Essay Example Therefore, outputs that are not determined by one  self are not put into consideration (Sheikh, & Tonak, 2002). Marxist and neoclassical methods of determining value added B. Cox in 1979 agreed in his book called â€Å"value added† that Pigou’s definition went further in explanations. He construed value added in two diverse perspectives: the additive and the subtractive. In one, instance, the subtractive value added, is determined by taking away material purchases and services from revenue from sales. The value added signifies its creation. In addition, additive value added is deliberated by accumulation of labour cost (consisting of social charges), operating profit and depreciation. This permits the estimation methods where the created profit is distributed. Goods and services are (Samuelson, & Nordhaus, 2004) exchanged in business system; thus  a  market product entails a market where products are traded  (especially to firms). Thus, product market and busine ss are interrelated given that the business permits products to be traded in markets. Besides, vertical integration and value added are correlated. Indeed, if a company opts to vertical integration, its Value added ratio increases. However, many companies do not create their own products in entirety. An addition or change made by a business regarding a product or process prior to reaching the point of purchase or customer. In a situation where there is change in business value-added, there will be an increase in the quality and value of the process or products. However, the fact of the change in itself is not obvious to the customer (Palmer, 1998). The concept of Karl Marx where the value product is the same as the national accounting concept of determining net value added. It is obtained through subtracting the value of the gross product and expenditure on constant capital. The latter represents depreciation and the costs of intermediate products. In rotation, value added equals th e summation of variable capital (compensation of labor) and surplus-value (which is pre-tax profit income). The case is that labor generates value added (a new value) that comprises the cost of own wages i.e. payment for the ability of workers perform labor (labor power) and property income (surplus-value). In Marx's case, provided in Das Kapital thesis, workers apply sufficient labor-time within a working day so as to pay for proliferation costs where their ability to work in that day (labor-power) is judged by the extra work or surplus-labor required to compensate incomes to land-owners and capitalists among others (Deardorff, 2003). Given that labor is active and highly conscious factor in the process of production, capital goods which is the means of production together with gifts from nature like land and natural resources, facilitates the ability of labor to transform raw materials into finished products. It raises the physical productivity of labor regarding its ability to ge nerate use-values alongside value-productivity. The latter is the ability to generate use-values that can be traded for money (Yanovsky, 1999). On the contrary, neoclassical economics deem the incomes comprising added value as the prize for services provided. While critiquing the political economy, Marx observed incomes as consequences of production subject to circumstances of capitalist exploitation. In the capitalist class, they

Criminology Essay Example | Topics and Well Written Essays - 1500 words - 1

Criminology - Essay Example The labeling theory was developed from the interactionist perspective of criminology. Interactionists believe that a person does not become a criminal on their own. Interactionist theories "assume that everyone has the potential to violate the law and that criminality is not an innate human characteristic," according to Schamlleger (2005, p. 245). While social constraints are the primary cause of crime, this alone does not cause someone to act unlawful. Instead these deviant behaviors must be learned and reinforced, which is why the process of socialization is an important factor in determining if someone is going to become a criminal. This means that interactions with society, peer groups, family, the education system, and other social groups play a prominent role, as these interactions provide the individual with morals, values, and a slate of norms in which to adhere to. In addition, this theory believes that a person's position in society will influence their involvement in crime , with those in higher positions in society less likely to partake in criminal behaviors. The labeling theory helped criminologist differentiate between primary and secondary deviance. An offender's initial act of deviance is considered primary deviance. However, continuing these acts is considered secondary deviance, especially if these acts occur as a result of being around other deviant individuals (Schmalleger, 2005). For example, while someone may initially rob a gas station as their primary deviance, secondary deviance may come from being sentenced to jail, meeting fellow criminals, and engaging in additional deviant behavior with them that would not occur if the individual was not associated with them. However, the individual does not have to have direct interaction with other deviant individuals for it to be considered secondary deviance. The action of simply being labeled a criminal can result in secondary deviations (Schmalleger, 2005). Noting and studying labeling in regards to secondary deviance is important, because the negative labels put on an individual e ventually become internalized. The individual labels himself as deviant, and therefore performs deviant behaviors to fit these labels (Schmalleger, 2005). In the 1960s and 70s, criminologists began to question the labeling and interactionist theory. It was during this time that there were a lot of social problems that were causing criminologists to question their loyalty and support to these and other earlier proposed theories. Some of these social problems included the civil rights movement, which gave blacks and whites equal rights, and the war in Vietnam, which was hugely unpopular. Criminologists began to question how they could support theories and interpret laws that discriminated against people and reinforced or caused human suffering. It was at this time that things in the world of criminology began to shift, as a new perspective, Marxist criminology, began to develop. This criminology theory strongly questioned the labeling theory and other theories before it. It was founded upon the writings concerning capitalism by Karl Marx. He was an individual who believed that capitalist societies were divided into two social classes, a small, rich, elite and a large, poor, working class. The elite class served as the ruling class and exploited the poor class

Employee Resourcing Essay Example | Topics and Well Written Essays - 1250 words

Employee Resourcing - Essay Example The modern corporate era is exhibiting a remarkable transformation for both the HR practitioners and the HR activities. These changes are both revolutionary and evolutionary. Today the managers are more informed and the HR specialists are expected to do some value addition keeping pace with the organizational sustainability and competitive advantage. The line managers on the other hand are expected to manage the human resource as well as the other resources of the organization. The precise role of HR functions within an organization and the distribution of HR activities and responsibilities have been influenced in the modern era, by the following contingency factors: Ownership, sector, size, tradition and stage of development of an organization The degree of dynamism in the competitive environment having the influence of political, economic, social, technological, international and legal factors as the external change agents for the organization The attitude of the senior management towards dealing with the employees The implementation of unitary, neo unitary or pluralistic practice to the employment relationship The reputation, competence and track record of HR job holders and the absence or existence of the capacity or skills to resource talent efficiently. The job of the HR personnel today, are effectively influenced by the strategy of the organization. Thus it can be concluded that, the ultimate work has remained the same today whereas the way of doing it has changed drastically (Pilbeam & Corbridge, 2010, pp. 2-29). Answer 2- Today the changed way of doing jobs affects the relationship between the employer and employee to a large extent. The employees often get scared with the idea of losing job any day which is commonly known as the â€Å"here today gone tomorrow† concept, though it is possible to prove statistically that jobs in many sectors are greatly secured, still with the managerially developed necessity of change and adaptation, along with t he global recession of 2009, which has enormously transformed the employee’s perspective of job permanence. The employers constantly keep on encouraging the employees to enhance their personal skills in order to maintain employability. As a result the employees get much more loyal to their own capabilities and skills. According to Armstrong and Brown (2001) the managers should not underestimate the importance of pay as a means of attracting and retaining the employees as it is considered as a factor which if can prove to be damaging if handled casually. But to generate long-term dedication from the end of the employees, it is necessary to put proper focus the non-monetary benefits too. Thus the employer-employee relationship of the modern times involve a transactional psychological contract which means they are satisfied until they have got â€Å"something in it for them† and as soon as the â€Å"something† is removed, they would opt for an alternative option. T heir relationship is thus much more self-centered rather than familial (Pilbeam & Corbridge, 2010, pp. 2-29). Answer 3- The changed work patterns of the present era showcases some basic trends which are- Easy acceptance of technological changes Strong prejudice regarding minority groups Willing to acquire a work-life balance greater than their previous generation Inclination towards strong ethical practices within the organization Influenced by a global viewpoint Intolerance towards tight and bureaucratic control system Easy dealing with job insecurity (Taylor, 2005, p.46) Answer 4- Generally the hiring decision of an employer is greatly affected by uncertainty as the productivity of the applicant cannot be measured directly. In such situation the employer gets interested in getting information that would serve as the ideal statistic for the applicant’s work potential. As per Spence (1973), â€Å"signals and indices are terms used to determine his assessment of an

Campaign Reform Essay Example | Topics and Well Written Essays - 500 words

Campaign Reform - Essay Example Non-profit organizations are considered corporations under this law and are therefore subject to the same rules and regulations as these other corporations. These are referred to as â€Å"Electioneering Communications,â€Å" or issue ads. This act amended the 1971 Federal Election Campaign Act. The BCFR was a big step towards campaign finance reform. As a direct effect, the organizations Swift Boat Veterans for the Truth, the League of Conservation Voters, MoveOn.org, and Progress for America Voter Fund were all fined for not following the new laws. In June of 2007, the US Supreme court found in Federal Election Commision Vs. Wisconsin Right to Life, Inc. that it was unconstitutional to apply the BCFR to ads that could be reasonably considered to be not specifically for or against a specific candidate. It will depend on the full extent of the 2008 election cycle to determine the extent to which this new ruling will affect campaign finance reform. While the BCFR has begun the process of finance reform, many people think that there is still a long way to go in the process. For instance, many people still feel that lobbyists and special interest groups still have too much influence on politicians, yet the BCFR does not specifically deal with lobbyists. Also, some groups have begun the process of challenging the BCFR, stating that it violates free speech. Bradley A. Smith, in the book Unfree Speech: the Folly of Campaign Finance Reform, states that not only was the system that was in place before the BCFR not as corrupt as many Americans seemed to believe, but the BCFR has made the situation worse, with incumbent and wealthy candidates being much more likely to elected than previously because the BCFR discourages grassroots organizations (Smith, 2001). Smith’s main opposition to current attempts at campaign finance reform, though,

Sustainability and Strategy - HILTON HOTEL Essay

Sustainability and Strategy - HILTON HOTEL - Essay Example Hilton hotels across the globe are owned by or managed by individual operators and who are supervised by Hilton Worldwide. As of 1943, the Hilton hotels business chain became the United States’ first coast to coast hotel chain. Currently, there are more than 530 Hilton branded hotels operating worldwide in 78 countries, serving the interests of millions of people. As the company engages in large scale operations, it evidently produces huge volume of waste materials. The company’s waste dumping activities raise potential challenges to the environmental sustainability policies of the United Kingdom. This paper will conduct a PEST analysis on the waste issue of Hilton hotels; and it will critically evaluate how each PEST element relates to the successful management of the company. Pest analysis on the waste issue of Hilton Hotels Political factors The waste issue of Hilton Hotels in UK involves many political aspects. Evidently, the entire European Union maintains strict r egulations on waste disposal with intent to confront with the challenging environmental crises such as global warming and green house effect (United Nations Environment Programme, 2002, p.25). Recently, the UK government in particular has framed an array of environment sustainability policies so as to preserve the ecological balance. ... Hence, the government is less likely to adopt a liberal approach towards Hilton Hotels even though they evidently contribute to the GDP of the country. Since environmental sustainability constitutes the nation’s major vision for the next several decades, it may take some stringent actions against Hilton Hotels if they continue with the illegal practice. Economical factors While analysing the economic spectrum of UK, it is clear that the nation is ranked at sixth in terms of nominal GDP and seventh in terms of purchasing power parity. The UK provides high business freedom (94.6) and trade freedom (87.6) in order to foster mercantile activities in the country (The Heritage Foundation, 2011). Hence, the country neither intervenes in the business operations of a firm nor imposes much restriction on its operational privacy. To some extent, this favourable situation assists the Hilton Hotels to skip the current environmental policies of the country. Since effective waste management could significantly benefit the economic growth of the country, the Department of Environment Food and Rural Affairs (DEFRA) has formulated a number of waste reduction policies. During the last year, the Defra conducted a detailed Review of Waste Policies in the country so as to ensure that existing policies and regulations are adequate enough to meet the environmental sustainability needs of the country (DEFRA, 2011). As Wintour, Elliott and Mulholland (2008) point out, the UK Prime Minister Gordon Brown’s press releases reflect that the country still has a lot to achieve in ensuring effective waste disposal. Admittedly, the UK government does not foster business activities which may hurt the long term sustainability of the country. Hence obviously, the current economic policies of the

Anna Huffs Article Resistance Research Essay Example | Topics and Well Written Essays - 500 words

Anna Huffs Article Resistance Research - Essay Example Every paragraph is coherent and unified to the other. The student did an excellent job. The grammar errors were minimal in this paper. The only mistake I came across was punctuation issues, which can be corrected through proofreading. Keegan Farrell’s essay, Draft Zahra’s Paradise and Human Rights Abuses, discusses the current situation in Iran of how the regime is oppression its citizens. The article also discusses how the Iranians are opposing this rule, as well as how they are using human rights commissions to fight this rule. Punctuation was also the main grammar mistake in this paper. The student is not conversant with classifying positives in between their sentences. These can be rectified by proofreading the paper severely. Maria mentions people such as Eve Ensler who have endured the act of mistreatment as a way of giving textual evidence. Maria studies Eve deeply, which makes a reader understand what is going in Eve’s life. The grammar issues that I found in this paper include punctuation and incorrect use of prepositions. Such mistakes could be rectified also by proofreading the paper before handing it into the  instructor. Mike Strickland essay, Zahra’s Paradise and the Nonviolent Resistance Movement in Iran, talks about the oppression and resistance of Iranians being persuaded by their regime. Every paragraph of Strickland’s essay discusses the issue mentioned above. He explores the significance of oppression and resistance through explaining the effects of the resistance. As a way of giving textual evidence, the writer gives specific parties, which concern the oppression and resistance in Iran. The logic behind this organization is that the government considers itself superior to others, and what it does is final.

Organized Crime Essay Example for Free

Organized Crime Essay Two thirds of all homicides in Omaha, NE are gang related. With an average of 40 homicides per year, without the gang activity in this city, 26 of them could be avoided. Founded in 1990 the 40th Street Crips are the oldest, most established gang in Omaha at this time. They are involved in every type of crime that is prevalent in Omaha from identity theft to homicides. This gangs has a negative effect on the people, businesses, and properties in their area. The 40th Street Crips qualify as an organized crime organization by displaying some of the attributes assigned to identify organized crime groups. This gang is the most active, dangerous, organized crime group in Omaha at this time their negative effects on the people and neighborhoods they prey on is felt throughout the whole community. The 40th Street Crips work out of an area in North Omaha near 40th and Bedford streets. Like the Crips in Los Angeles, CA, they can be identified by their blue handkerchief and athletic wear, they prefer BK tennis shoes as in the gang culture it stands for blood killer. (http://midwestgangs. tripod. com/id3. html) The Bloods are their rival gang. They are involved in several different types of crime in Omaha. In a personal phone interview with Bruce Ferrell, former Omaha Police Officer and current President of the Midwest Gang Investigators Association, he stated â€Å"they are involved in drive-bys, felony assaults, homicides, narcotic distribution, robberies, home invasions, identity theft, and auto theft. † (B. Ferrell, personal communication, March 13, 2013) Because of this gang, people in North Omaha live with fear and intimidation at all times. The businesses have a harder time being successful because people do not want to shop in North Omaha, as they are frightened. The property values are substantially lower in this area due to the 40th Street Crips activities. There are several attributes of organized crime that fit this group. (Abadinsky, 2009, p. 3-4) I have chosen the three most closely related to this gang. 1. Has no political goals. – This group’s main objective is money and power they are not motivated by any ideology.  Their goals are too make money through the commission of crimes and if they spread intimidation and fear in the commission of these crimes so much the better. 2. Exhibits a willingness to use illegal violence. – 40th Street Crips are the number one gang right now in Omaha for drive by shootings. Most of the members will kill someone for any slight perceived or real. 3. Perpetuates itself. – This gang has been active since 1990 and long ago cut its ties with the Los Angeles Crips. New gang members are often recruited from family and friends of current members. (Abadinsky, 2009, p. -4) There are several reasons to analyze and research this group, the number one reason is they are the most active and violent gang in Omaha at this time, conducting by far the most drive-bys and felony assaults. (B. Ferrell, personal communication, March 13, 2013) They are doing the most damage to the north Omaha youth by destroying their futures by bringing them into gangs. The actions they take are directly destructive to businesses and housing in North Omaha as they are lowering property values and making it hard to conduct business in an atmosphere of fear and intimidation. http://www. nationalgangcenter. gov/content/Impact-of-gangs-on-communities. pdf) The 40th Street Crips are a dangerous, violent well established gang in Omaha. Their actions are having negative effects on the communities and neighborhood that they are active in. The law enforcement officers in this city are taking every action possible to eliminate organized crime activity all over Omaha not just in north â€Å"O†. â€Å"We recognize there is too much violence in this town,† said 2010 Omaha Police Chief Alex Hayes. â€Å"It’s never going to be good (here) until it’s gone. † (Perez Jr. , 2010, para. 3)

Hinduism and Buddhism Essay Example for Free

Hinduism and Buddhism Essay Hinduism and Buddhism are two of the renowned religions world widely. Hinduism is the religion of the great majority of the people of India. The word comes from the Sanskrit sindhu, â€Å"river,† and originally referred to the Indus. Hinduism is actually a collection of many native Indian religions, past and present. It is responsible for the social structure of India, especially for the caste system (a hereditary class system). Hinduism has about 20 sects, with beliefs that range from primitive forms of animism to the highest reaches of mysticism and philosophy. Many of the sects and cults seem to be separate religions. Yet all have a family relationship since they spring from common traditions and thrive. Hindus believe in rebirth, or reincarnation, and in what they call the law of karma. Under this law the conditions of each new lifetime are determined by the actions of the preceding life. To the Hindu, salvation consists of liberating the soul from attachment to worldly desires in order to gain union with Brahman. If a Hindu dies liberated he must be born again into this world and again endure its suffering (Stutley, 2004). The Vedas describe four main castes. 1. The Brahmins exercise spiritual power. (Brahmin is also spelled Brahman). 2. The Kshatriyas are warriors who exercise secular power. 3. The Vaisyas are merchants and cultivators. 4. The Sudras are artisans and laborers. Hindu worship for most part takes place in the home. A Hindu temple or shrine is considered an abode of deity and is not used for communal worship. There are kinds of Hindu clergy. Temple priests collect offerings and care for the temples and shrines. Domestic priests perform rites involving births, marriages, and deaths. Gurus are spiritual teachers. Sadhus are monks; most live in monasteries, but many live as wandering mendicants (beggars) (Chaudhuri, 1999). While Buddhism is a religion founded by Siddhartha Gautama (â€Å"Buddha,† or â€Å"The Enlightened One†) in India about 500 B. C. Buddhism is the chief religion of Burma, Sri Lanka, Thailand, Japan, Korea, Mongolia, Kampuchea, Laos, and China. It has been estimated that about one-fifth of the world’s people are Buddhists. Because many Buddhists also practice Confucianism or Taoism, however, some authorities estimate world membership to be much smaller. In the United States, there are a number of organized Buddhist congregations (Carrithers, 2003). Buddhism consists of numerous sects with varying practices and beliefs. Some of these sects are so different from the others that they appear to be separate religions. But all sects have in common the belief that they are following the principles laid down by Gautama. Early Buddhism, the religion as taught by Gautama, developed into two branches—Theravada Buddhism and Mahayana Buddhism (Mizuno, 2001). Although Buddhism was originally a reform movement that rejected certain beliefs and practices of Hinduism, the two religions have several important beliefs in common. Among them are reincarnation, the ideas that a living thing can be reborn in a new body; the law of karma, which holds that events in life are effects whose cause lies in previous lives and acts; and liberation, or salvation, the state of being free of the law of karma and rebirth (Conze, 2002). According to Buddhism, liberation is attained through understanding and practice of the Four Noble Truths: 1. There is suffering in life. 2. Suffering is caused by desire for pleasure, existence, and prosperity. 3. Suffering and rebirth cease when one ceases such desires, leading to enlightenment, or Nirvana, a blessed state in which peace, harmony, and joy are attained. The Eightfold Path is also called the Middle Way—because of its emphasis on avoiding such extremes as following sensuous pleasures on the one hand, and self-punishment on the other. The Buddhists must at all times observe in the high moral principles described in the Eightfold path, which emphasizes nonviolence and the brotherhood of all. Reference: 1. Carrithers, Michael. The Buddha (Oxford University 2003). 2. Chaudhuri, N. C. Hinduism: A Religion to Live by (Oxford University, 1999). 3. Conze, Edward. A Short History of Buddhism (Allen Unwin, 2002). 4. Mizuno, Kogen. Basic Buddhist Concepts (Tuttle, 2001). 5. Stutley, Margaret James. Harper’s Dictionary of Hinduism: Its Mythology, Folklore, Philosophy, Literature, and History (Harper Row, 2004).

Banking, Customer Satisfaction IDBI Bank Awareness

Banking, Customer Satisfaction IDBI Bank Awareness CHAPTER- I 1.1 Title of the study 1.2 Scope of the study 1.3 Objective of the study 1.4 Significance of study 1.5 Researcher methodology 1.1 Title of the study:- â€Å"A survey on banking products, customer satisfaction awareness of IDBI Bank† 1.2 Scope Importance of the Study Each and every project study along with its certain objectives also have scope for  future. And this scope in future gives to new researches a new need to research a  new project with a new scope. Scope of the study not only consist one or two future  business plan but sometime it also gives idea about a new business which becomes  much more profitable for the researches then the older one. Scope of the study could give the projected scenario for a new observed in my project  are not exactly having all the features of the scope which I described above but also  not lacking all the features. Research study could give an idea of network expansion for capturing more  market and customer with better services and lower cost, with out compromising  with quality. In future customer requirements could be added with the product and services for  getting an edge over competitors. Consumer behavior could also be used for the purpose of launching a new  product with extra benefits which are required by customers for their account  (saving or current ) and/or for their investments. Factors which are responsible for the performance for bank can also be used for  the modification of the strategy and product for being more profitable. 1.3 Objectives of the study:- To know the customer needs and expectations. To find out the factors which customer take into consideration in opening a account To know that up to what extent a customer is satisfied with the bank To know the customer complaints and their redressal 1.4 Significance of the study:- Every research is conducted to fulfill certain objectives and these objective in turn fulfill some purpose and are of significance for one or more then one party these research is significant for:- To the Researcher:- This study provides the researcher a practical insight of various activities and function of the bank The researcher will also be able to develop on in depth knowledge of banking sector The study is also required for the partial fulfillment of the requirement for the degree of MBA as per the curriculum To the Bank:- The study would help IDBI Bank to know the customers attitude (about awareness and satisfaction level) towards its various products. 1.5 Research Methodology:- 1) Type of Research Research is descriptive in nature 2) Universe Customer of IDBI Bank in New Delhi 3) Sampling Unit Existing customer of IDBI Bank 4) Sampling Technique Convenience method of sampling was used 5) Sample Size 200 respondents 6) Data Type Primary secondary data PRIMARY DATA The Primary data are those which are collected afresh and for the first time, and thus  happen to be original in character. SECONDARY DATA The secondary data are those which have already been collected by someone else  and which have already been passed through the statistical process. CHAPTER II 2.1 Industry Introduction 2.2 Introduction to IDBI bank: All about 2.3 Management Organization 2.4 IDBI bank business chart 2.5 IDBI bank organizational chart 2.6 Product Services 2.7 Subsidiaries of IDBI 2.8 Review of literature 2.1 Industry introduction The Indian Banking industry, which is governed by the Banking Regulation  Act of India, 1949 can be broadly classified into two major categories, non-scheduled banks and scheduled banks. Scheduled banks comprise  commercial banks and the co-operative banks. In terms of ownership,  commercial banks can be further grouped into nationalized banks, the State  Bank of India and its group banks, regional rural banks and private sector  banks (the old/ new domestic and foreign). These banks have over 67,000  branches spread across the country in every city and villages of all nook and  corners of the land. The first phase of financial reforms resulted in the nationalization of 14 major  banks in 1969 and resulted in a shift from Class banking to Mass banking. This in turn resulted in a significant growth in the geographical coverage of  banks. Every bank had to earmark a minimum percentage of their loan  portfolio to sectors identified as â€Å"priority sectors†. The manufacturing sector  also grew during the 1970s in protected environs and the banking sector was  a critical source. The next wave of reforms saw the nationalization of 6 more  commercial banks in 1980. Since then the number of scheduled commercial  banks increased four-fold and the foreign banks (numbering42), regional rural  banks and other scheduled commercial banks accounted for 5.7 percent, 3.9  percent and 12.2 percent respectively in deposits and 8.41 percent, 3.14  percent and number of bank branches increased eight-fold. And that was not  the limit of growth. After the second phase of financial sector reforms and liberalization of the  sector in the early nineties, the Public Sector Banks (PSB) s found it  extremely difficult to compete with the new private sector banks and the  foreign banks. The new private sector banks first made their appearance after  the guidelines permitting them were issued in January 1993. Eight new  private sector banks are presently in operation. These banks due to their late  start have access to state-of-the-art technology, which in turn helps them to  save on manpower costs. During the year 2000, the State Bank Of India (SBI) and its 7 associates  accounted for a 25 percent share in deposits and 28.1 percent share in credit. The 20 nationalized banks accounted for 53.2 percent of the deposits and 47.5  percent of credit during the same period. Current Scenario: The industry is currently in a transition phase. On the one hand, the PSBs,  which are the mainstay of the Indian Banking system are in the process of  shedding their flab in terms of excessive manpower, excessive non  Performing Assets (Npas) and excessive governmental equity, while on the  other hand the private sector banks are consolidating themselves through  mergers and acquisitions.   PSBs, which currently account for more than 78 percent of total banking  industry assets are saddled with NPAs (a mind-boggling Rs 830 billion in  2000), falling revenues from traditional sources, lack of modern technology  and a massive workforce while the new private sector banks are forging  ahead and rewriting the traditional banking business model by way of their  sheer innovation and service. The PSBs are of course currently working out  challenging strategies even as 20 percent of their massive employee strength  has dwindled in the wake of the successful Voluntary Retirement Schemes  (VRS) schemes. The private players however cannot match the PSBs great reach, great size  and access to low cost deposits. Therefore one of the means for them to  combat the PSBs has been through the merger and acquisition (M A) route. Over the last two years, the industry has witnessed several such instances. For instance, HDFC Banks merger with Times Bank Icici Banks acquisition  of ITC Classic, Anagram Finance and Bank of Madurai. Centurion Bank,  Indusind Bank, Bank of Punjab, Vysya Bank are said to be on the lookout. The  UTI bank- Global Trust Bank merger however opened a pandoras box and  brought about the realization that all was not well in the functioning of many  of the private sector banks. Private sector Banks have pioneered internet banking, phone banking,  anywhere banking, mobile banking, debit cards, Automatic Teller Machines  (ATMs) and combined various other services and integrated them into the  mainstream banking arena, while the PSBs are still grappling with disgruntled  employees in the aftermath of successful VRS schemes. Also, following  Indias commitment to the W To agreement in respect of the services sector,  foreign banks, including both new and the existing ones, have been permitted  to open up to 12 branches a year with effect from 1998-99 as against the  earlier stipulation of 8 branches. Tasks of government diluting their equity from 51 percent to 33 percent in  November 2000 has also opened up a new opportunity for the takeover of  even the PSBs. The FDI rules being more rationalized in Q1FY02 may also  pave the way for foreign banks taking the M A route to acquire willing Indian  partners. Meanwhile the economic and corporate sector slowdown has led to an  increasing number of banks focusing on the retail segment. Many of them are  also entering the new vistas of Insurance. Banks with their phenomenal reach  and a regular interface with the retail investor are the best placed to enter into  the insurance sector. Banks in India have been allowed to provide fee-based  insurance services without risk participation, invest in an insurance company  for providing infrastructure and services support and set up of a separate  joint- venture insurance company with risk participation. Aggregate Performance of the Banking Industry Aggregate deposits of scheduled commercial banks increased at a  compounded annual average growth rate (Cagr) of 17.8 percent during 1969-99, while bank credit expanded at a Cagr of 16.3 percent per annum. Banks  investments in government and other approved securities recorded a Cagr of  18.8 percent per annum during the same period. In FY01 the economic slowdown resulted in a Gross Domestic Product (GDP)  growth of only 6.0 percent as against the previous years 6.4 percent. The WPI  Index (a measure of inflation) increased by 7.1 percent as against 3.3 percent  in FY00. Similarly, money supply (M3) grew by around 16.2 percent as against 14.6  percent a year ago. The growth in aggregate deposits of the scheduled commercial banks at 15.4  percent in FY01 percent was lower than that of 19.3 percent in the previous  year, while the growth in credit by SCBs slowed down to 15.6 percent in FY01  against 23 percent a year ago. The industrial slowdown also affected the earnings of listed banks. The net  profits of 20 listed banks dropped by 34.43 percent in the quarter ended  March 2001. Net profits grew by 40.75 percent in the first quarter of 2000-2001, but dropped to 4.56 percent in the fourth quarter of 20002001. On the Capital Adequacy Ratio (CAR) front while most banks managed to  fulfill the norms, it was a feat achieved with its own share of difficulties. The  CAR, which at present is 9.0 percent, is likely to be hiked to 12.0 percent by  the year 2004 based on the Basle Committee recommendations. Any bank  that wishes to grow its assets needs to also shore up its capital at the same  time so that its capital as a percentage of the risk-weighted assets is  maintained at the stipulated rate. While the IPO route was a much-fancied one  in the early ‘90s, the current scenario doesnt look too attractive for bank  majors. Consequently, banks have been forced to explore other avenues to shore up  their capital base. While some are wooing foreign partners to add to the  capital others are employing the M A route. Many are also going in for right  issues at prices considerably lower than the market prices to woo the  investors. Interest Rate Scene The two years, post the East Asian crises in 1997-98 saw a climb in the global  interest rates. It was only in the later half of FY01 that the US Fed cut interest  rates. India has however remained more or less insulated. The past 2 years in  our country was characterized by a mounting intention of the Reserve Bank  Of India (RBI) to steadily reduce interest rates resulting in a narrowing  differential between global and domestic rates. The RBI has been affecting bank rate and CRR cuts at regular intervals to  improve liquidity and reduce rates. The only exception was in July 2000 when  the RBI increased the Cash Reserve Ratio (CRR) to stem the fall in the rupee  against the dollar. The steady fall in the interest rates resulted in squeezed  margins for the banks in general. Governmental Policy: After the first phase and second phase of financial reforms, in the 1980s  commercial banks began to function in a highly regulated environment, with  administered interest rate structure, quantitative restrictions on credit flows,  high reserve requirements and reservation of a significant proportion of  lendable resources for the priority and the government sectors. The  restrictive regulatory norms led to the credit rationing for the private sector  and the interest rate controls led to the unproductive use of credit and low  levels of investment and growth. The resultant ‘financial repression led to  decline in productivity and efficiency and erosion of profitability of the  banking sector in general. This was when the need to develop a sound commercial banking system was  felt. This was worked out mainly with the help of the recommendations of the  Committee on the Financial System (Chairman: Shri M. Narasimham), 1991. The resultant financial sector reforms called for interest rate flexibility for  banks, reduction in reserve requirements, and a number of structural  measures. Interest rates have thus been steadily deregulated in the past few  years with banks being free to fix their Prime Lending Rates(PLRs) and  deposit rates for most banking products. Credit market reforms included  introduction of new instruments of credit, changes in the credit delivery  system and integration of functional roles of diverse players, such as, banks,  financial institutions and non-banking financial companies (Nbfcs). Domestic Private Sector Banks were allowed to be set up, PSBs were allowed  to access the markets to shore up their Cars. Implications Of Some Recent Policy Measures: The allowing of PSBs to shed manpower and dilution of equity are moves that  will lend greater autonomy to the industry. In order to lend more depth to the  capital markets the RBI had in November 2000 also changed the capital  market exposure norms from 5 percent of banks incremental deposits of the  previous year to 5 percent of the banks total domestic credit in the previous  year. But this move did not have the desired effect, as in, while most banks  kept away almost completely from the capital markets, a few private sector  banks went overboard and exceeded limits and indulged in dubious stock  market deals. The chances of seeing banks making a comeback to the stock  markets are therefore quite unlikely in the near future. The move to increase  Foreign Direct Investment FDI limits to 49 percent from 20 percent during the  first quarter of this fiscal came as a welcome announcement to foreign  players wanting to get a foot hold in the Indian Markets by in vesting in willing  Indian partners who are starved of net worth to meet CAR norms. Ceiling for  FII investment in companies was also increased from 24.0 percent to 49.0  percent and have been included within the ambit of FDI investment. IDBI bank: all about The economic development of any country depends on the extent to which its  financial system efficiently and effectively mobilizes and allocates resources. There are a number of banks and financial institutions that perform this  function; one of them is the development bank. Development banks are  unique financial institutions that perform the special task of fostering the  development of a nation, generally not undertaken by other banks. Development banks are financial agencies that provide medium-and long-term financial assistance and act as catalytic agents in promoting balanced  development of the country. They are engaged in promotion and development  of industry, agriculture, and other key sectors. They also provide  development services that can aid in the accelerated growth of an economy. The objectives of development banks are: To serve as an agent of development in various sectors, viz. industry,  agriculture, and international trade To accelerate the growth of the economy To allocate resources to high priority areas To foster rapid industrialization, particularly in the private sector,  so as to provide employment opportunities as well as higher production   To develop entrepreneurial skills To promote the development of rural areas To finance housing, small scale industries, infrastructure, and social  utilities. 2.2 Introduction to the Bank IDBI the tenth largest development bank in the world has promoted world class institutions in India. A few of such institution built by IDBI are the National Stock Holding Corp. (NSE), the National Securities Depository Services Ltd.( NSDL ) Stock Holding Corp. of India (SHICL) etc. IDBI is a strategic investor in a plethora of institutions, which have revolutionized the Indian Financial Markets. IDBI promoted IDBI BANK to mark the formal foray of the Idbi group into commercial Banking. Idbi Bank, which began with an equity capital base of Rs. 1000 million (Rs.800 million contribute by IDBI and Rs. 200 millions by SIDBI), commenced its first branch at Indore in November 1995. The birth of Idbi bank took place after RBI issued guidelines for entry of new private sector banks in January 93. Subsequently, IDBI as promoters sought permission to establish a commercial bank and retained KPMG a management consultant of international repute to prepare the principle approval to establish Idbi bank on February 11th 1994 thereafter the bank was incorporated at Gwalior under companies act on 15th September 1994 with its registered office at Indore. The Certificate of Commencement of Business was received on 2nd December 1994. Banks registered office is in Indore and Head Office in Mumbai. One of the reason for the growth of Indian banks like ICICI and IDBI is that they have been allowed freedom to open any no. of branches in a particular city or suburb. They have also been given the freedom to open ATMs unlike in both cases the foreign banks who have been restricted in both of these areas. 2.3 Management Organisation IDBI Bank is a Board-managed organisation. The responsibility for the day-to-day  management of operations of the Bank is vested with the Chairman Managing  Director and two Deputy Managing Directors, who draw upon the support and  expertise of a cross- disciplinary Top Management Team. As on March 31, 2008, IDBI  Bank had a combined employee base of 8989, including professionals from the fields  of accountancy, management, engineering, law, computer technology, banking and  economics. Mr. Yogesh Agarwal, Chairman Managing Director Mr. Jitender Balakrishnan, Mr. O.V. Bundellu, (Deputy Managing Director) (Deputy Managing Director) OTHER BOARD OF DIRECTORS 2.4 IDBI Bank business chart 2.5 IDBI bank organizational chart 2.6 Products Services Free services Following services are provided to every type of A/C holder in general- ATMs : Besides cash withdrawals, some of the important things that you can do through the International Debit cum ATM card are : Balance Enquiry Statement Request Cheque-book Request Mini statements Cheque and Cash Deposits International usage Make purchases at 51,000 merchant establishments in India and over 10 million worldwide. Fabulous discounts and great deals at various establishments Internet Banking: Internet Banking gives you the power to access your bank account from your Personal Computer. Some of the important features of Internet Banking are : Account Balance Inquiry Transaction tracking and history Cheque status inquiry Funds transfer facilities to Own-account or third-parties Cheque book Requests Stop payment Requests FD renewal Requests Phone Banking: Just pick up your phone and access your account. The following features are available through Phone Banking : Available round the clock 24*7*365 Current Balance Inquiry Last 5 transactions inquiry Statement by fax fax-back, fax to another number, fax to registerednumber, Statement by mail Cheque status enquiry Cheque book request Balance as of a particular date Mobile Banking: The unique feature is that this facility is available across all mobile service providers. Balance enquiry Details of Last three transactions Cheque payment status Cheque book request Statement request Other services Sunday Banking Some of our branches are also open on Sundays that gives you an opportunity to complete all your banking requirements at your convenience. Locker Our branches provide lockers facility at nominal charges Who can open Account? Resident Individuals, Minors, Hindu Undivided Family (HUF), Trusts, Associations, Clubs, Societies, Foreign National residing in India can open a/c. Documents required for Account Opening: Account opening form Latest passport size photograph Self cheque or cash deposit Copy of passport In the absence of passport copy, copy of one document each from List A and List B is required: List A Voters ID card * Defense services Id/ Government ID Driving License * PAN card Photo credit card List B Latest bank account/credit card statement Latest electricity/telephone/mobile phone bill Latest copy of LIC policy or insurance premium receipt Latest copy of NSC Letter from employer certifying current mailing address Latest house lease agreement SuperSavings Account An assortment of benefits, earnings and convenience. Be it happiness in life or more time for yourself, you have always desired more  of it. So why settle for less with your savings account? The SuperSavings Account is a complete financial package that provides you  with easy access to your money and complete banking convenience too. It  offers you a whole range of options for optimal management of your money. Which means, with SuperSavings Account you not only save your money but  also make it grow. So apart from the basic benefits of a savings account, we offer you options for  faster transfer of funds, options to pay your bills or tax online and options to  grow money at attractive interest rates in the savings account. All these  features are offered for a minimum balance of Rs 5,000. Please click on the  links given below to find out more about each of these features. The SuperSavings Account is a complete financial package that provides you  with easy access to your money and complete banking convenience too. It  offers you a whole range of options for optimal management of your money. Which means, with SuperSavings Account you not only save your money but  also make it grow. Roaming Current Account A Current account for every business No two businesses are the same, which is why IDBI Bank offersfive Roaming Current Accounts Gold to suit your business needs. Based on the balance you choose to maintain in the account,  you can then choose your specific Roaming Current Account accordingly. IDBI Bank Current Accounts not only gives you the flexibility of banking  anytime, anywhere, but also allows you to save more money while doing  business across the country. Roaming Current Account from IDBI Bank comes packed with a host of  services and facilities that makes your banking convenient and hassle-free. With services such as multi-city and multi-branch banking, electronic funds   transfers, national clearing in selected cities, 247 cash withdrawals from  ATMs, Internet Banking, Phone Banking and SMS Banking, you are assured  of faster remittances and collection of funds at competitive rates. Whats  more, extended IDBI Banking hours and Sunday Banking, all this to simplify  banking for you! Features:- Make payments to your vendors in different cities without any costs. Receive payments form your customers without any charge deducted from the  amount Do all your banking right from where you are or wherever you travel Most importantly, maintain better relations with your vendors and customers. All this, only with the IDBI Bank RoamingCurrent Account. You can open a Current Account (Basic RoamingCurrent Account)with only  Rs 10,000. Keep in mind, you will have to maintain an average quarterly  balance of Rs 10,000. But this is nothing compared to a host of services and  facilities that will make your current account work more effectively and  efficiently. Open Current Accounts Following can open current A/c: Sole Proprietorship Firm Partnership firm Private and Public Limited Companies Hindu Undivided Family Trusts Societies, Clubs Associations Documents required for account opening: Sole Proprietorship Account opening form Signed declaration in the Account Opening form Passport Copy or Self-cheque along with a copy of (any one) >> Voter ID card >> Defence Id/Govt ID >> Driving License >> PAN card >> Photo credit card In addition the following forms are required Proof of existence of sole proprietorship firm (any one) >> Electricity/Telephone bill for the sole proprietorship firm >> Shop and Establishment certificate >> Proof of PAN /GIR No or Form 60 (only for cash deposits) >> Latest passport sized photograph of the sole proprietor If the address mentioned in any of the above documents is different from that stated in the account opening form, kindly submit any one of the following to confirm the present address >> Ration card >> gas connection receipt >> latest telephone bill >> latest electricity bill Partnership firm Account opening form Signed declaration in the Account Opening form Passport copies of all partners or Self-cheque along with a copy of (any one) >> Voter ID card >> Defence Id/Govt ID >> Driving License >> PAN card >> Photo credit card In addition the following forms are required Proof of existence of partnership firm (any one) >> Shop and Establishment certificate >> Copy of registration certificate >> Copy of partnership deed >> Letter of consent signed by all partners (as per banks format) Private Limited and Public Limited Companies Account opening form Copy of certificate of incorporation Names and latest passport sized photographs of the authorized signatories Certified true copy of memorandum and articles of association Certified true copy of commencement of business PAN /GIR No details or Form 60 Names, addresses of directors of the companies Certified true copy of board resolution Hindu Undivided Family Account opening form Signed declaration by Karta and Co-parcenors in the Account opening Form Names and signatures addresses of Karta and co-parcenors Names, signatures and latest passport sized photographs of authorized signatories PAN /GIR No details or Form 60 Trusts Account opening form Copy of Trust Deed Copy of the resolution of the Trustees Copy of registration certificate Names and latest passport size photographs of the authorized signatories Names, addresses of the trustees Clubs/Societies and Associations Names and signatures and latest passport sized photographs of authorized signatories Copy of rules and by-laws Copy of the resolution of members for account operation Copy of registration certificate Account Opening Form Idbi banks Business Special Current account gives a host of free services and facilities that ensure optimal utilization of funds, higher liquidity and cost savings. At he same time you dont have to keep a higher minimum balance. You need to keep an Average quarterly balance of Rs. 50,000 only to avail the free services Business Premium Bronze (Rs. 1 lac-AQB) Type of Accounts: Bronze Average Quarterly Balance (AQB):1lac Free funds transfers (per month) Cheque payable locally (in over 65 idbi bank locations) :1.5 cr Demand Draft per day (on over 65 idbi bank locations) :10 lack Demand Draft (on over 300 non-idbi bank locations) :chargeable Electronic Funds Transfers :1.5 cr Pay Orders : un limited Free cheque collection (per month) Outstation cheque collection (on idbi bank locations) :50 lac Daily cheque pick-up from your establishment* :Yes Free Inter-branch banking Any branch cash withdrawal (per day) : 1lac Any branch cash deposit (per day) : Rs 20,000 Total limit for Free transactions (per day) : 6.86 cr Cost saving to the customer per year : 16 lac Also available Basic Current Account (AQB of Rs 10,000). you get monthly statement of account, certificate of balance, seep-in from FD and Net, Phone and Mobile banking facilities all FREE Business Premium Silver (Rs. 3 lacks -AQB) Types of Accounts: Silver Ø Average Quarterly Balance (AQB):3lac Banking, Customer Satisfaction IDBI Bank Awareness Banking, Customer Satisfaction IDBI Bank Awareness CHAPTER- I 1.1 Title of the study 1.2 Scope of the study 1.3 Objective of the study 1.4 Significance of study 1.5 Researcher methodology 1.1 Title of the study:- â€Å"A survey on banking products, customer satisfaction awareness of IDBI Bank† 1.2 Scope Importance of the Study Each and every project study along with its certain objectives also have scope for  future. And this scope in future gives to new researches a new need to research a  new project with a new scope. Scope of the study not only consist one or two future  business plan but sometime it also gives idea about a new business which becomes  much more profitable for the researches then the older one. Scope of the study could give the projected scenario for a new observed in my project  are not exactly having all the features of the scope which I described above but also  not lacking all the features. Research study could give an idea of network expansion for capturing more  market and customer with better services and lower cost, with out compromising  with quality. In future customer requirements could be added with the product and services for  getting an edge over competitors. Consumer behavior could also be used for the purpose of launching a new  product with extra benefits which are required by customers for their account  (saving or current ) and/or for their investments. Factors which are responsible for the performance for bank can also be used for  the modification of the strategy and product for being more profitable. 1.3 Objectives of the study:- To know the customer needs and expectations. To find out the factors which customer take into consideration in opening a account To know that up to what extent a customer is satisfied with the bank To know the customer complaints and their redressal 1.4 Significance of the study:- Every research is conducted to fulfill certain objectives and these objective in turn fulfill some purpose and are of significance for one or more then one party these research is significant for:- To the Researcher:- This study provides the researcher a practical insight of various activities and function of the bank The researcher will also be able to develop on in depth knowledge of banking sector The study is also required for the partial fulfillment of the requirement for the degree of MBA as per the curriculum To the Bank:- The study would help IDBI Bank to know the customers attitude (about awareness and satisfaction level) towards its various products. 1.5 Research Methodology:- 1) Type of Research Research is descriptive in nature 2) Universe Customer of IDBI Bank in New Delhi 3) Sampling Unit Existing customer of IDBI Bank 4) Sampling Technique Convenience method of sampling was used 5) Sample Size 200 respondents 6) Data Type Primary secondary data PRIMARY DATA The Primary data are those which are collected afresh and for the first time, and thus  happen to be original in character. SECONDARY DATA The secondary data are those which have already been collected by someone else  and which have already been passed through the statistical process. CHAPTER II 2.1 Industry Introduction 2.2 Introduction to IDBI bank: All about 2.3 Management Organization 2.4 IDBI bank business chart 2.5 IDBI bank organizational chart 2.6 Product Services 2.7 Subsidiaries of IDBI 2.8 Review of literature 2.1 Industry introduction The Indian Banking industry, which is governed by the Banking Regulation  Act of India, 1949 can be broadly classified into two major categories, non-scheduled banks and scheduled banks. Scheduled banks comprise  commercial banks and the co-operative banks. In terms of ownership,  commercial banks can be further grouped into nationalized banks, the State  Bank of India and its group banks, regional rural banks and private sector  banks (the old/ new domestic and foreign). These banks have over 67,000  branches spread across the country in every city and villages of all nook and  corners of the land. The first phase of financial reforms resulted in the nationalization of 14 major  banks in 1969 and resulted in a shift from Class banking to Mass banking. This in turn resulted in a significant growth in the geographical coverage of  banks. Every bank had to earmark a minimum percentage of their loan  portfolio to sectors identified as â€Å"priority sectors†. The manufacturing sector  also grew during the 1970s in protected environs and the banking sector was  a critical source. The next wave of reforms saw the nationalization of 6 more  commercial banks in 1980. Since then the number of scheduled commercial  banks increased four-fold and the foreign banks (numbering42), regional rural  banks and other scheduled commercial banks accounted for 5.7 percent, 3.9  percent and 12.2 percent respectively in deposits and 8.41 percent, 3.14  percent and number of bank branches increased eight-fold. And that was not  the limit of growth. After the second phase of financial sector reforms and liberalization of the  sector in the early nineties, the Public Sector Banks (PSB) s found it  extremely difficult to compete with the new private sector banks and the  foreign banks. The new private sector banks first made their appearance after  the guidelines permitting them were issued in January 1993. Eight new  private sector banks are presently in operation. These banks due to their late  start have access to state-of-the-art technology, which in turn helps them to  save on manpower costs. During the year 2000, the State Bank Of India (SBI) and its 7 associates  accounted for a 25 percent share in deposits and 28.1 percent share in credit. The 20 nationalized banks accounted for 53.2 percent of the deposits and 47.5  percent of credit during the same period. Current Scenario: The industry is currently in a transition phase. On the one hand, the PSBs,  which are the mainstay of the Indian Banking system are in the process of  shedding their flab in terms of excessive manpower, excessive non  Performing Assets (Npas) and excessive governmental equity, while on the  other hand the private sector banks are consolidating themselves through  mergers and acquisitions.   PSBs, which currently account for more than 78 percent of total banking  industry assets are saddled with NPAs (a mind-boggling Rs 830 billion in  2000), falling revenues from traditional sources, lack of modern technology  and a massive workforce while the new private sector banks are forging  ahead and rewriting the traditional banking business model by way of their  sheer innovation and service. The PSBs are of course currently working out  challenging strategies even as 20 percent of their massive employee strength  has dwindled in the wake of the successful Voluntary Retirement Schemes  (VRS) schemes. The private players however cannot match the PSBs great reach, great size  and access to low cost deposits. Therefore one of the means for them to  combat the PSBs has been through the merger and acquisition (M A) route. Over the last two years, the industry has witnessed several such instances. For instance, HDFC Banks merger with Times Bank Icici Banks acquisition  of ITC Classic, Anagram Finance and Bank of Madurai. Centurion Bank,  Indusind Bank, Bank of Punjab, Vysya Bank are said to be on the lookout. The  UTI bank- Global Trust Bank merger however opened a pandoras box and  brought about the realization that all was not well in the functioning of many  of the private sector banks. Private sector Banks have pioneered internet banking, phone banking,  anywhere banking, mobile banking, debit cards, Automatic Teller Machines  (ATMs) and combined various other services and integrated them into the  mainstream banking arena, while the PSBs are still grappling with disgruntled  employees in the aftermath of successful VRS schemes. Also, following  Indias commitment to the W To agreement in respect of the services sector,  foreign banks, including both new and the existing ones, have been permitted  to open up to 12 branches a year with effect from 1998-99 as against the  earlier stipulation of 8 branches. Tasks of government diluting their equity from 51 percent to 33 percent in  November 2000 has also opened up a new opportunity for the takeover of  even the PSBs. The FDI rules being more rationalized in Q1FY02 may also  pave the way for foreign banks taking the M A route to acquire willing Indian  partners. Meanwhile the economic and corporate sector slowdown has led to an  increasing number of banks focusing on the retail segment. Many of them are  also entering the new vistas of Insurance. Banks with their phenomenal reach  and a regular interface with the retail investor are the best placed to enter into  the insurance sector. Banks in India have been allowed to provide fee-based  insurance services without risk participation, invest in an insurance company  for providing infrastructure and services support and set up of a separate  joint- venture insurance company with risk participation. Aggregate Performance of the Banking Industry Aggregate deposits of scheduled commercial banks increased at a  compounded annual average growth rate (Cagr) of 17.8 percent during 1969-99, while bank credit expanded at a Cagr of 16.3 percent per annum. Banks  investments in government and other approved securities recorded a Cagr of  18.8 percent per annum during the same period. In FY01 the economic slowdown resulted in a Gross Domestic Product (GDP)  growth of only 6.0 percent as against the previous years 6.4 percent. The WPI  Index (a measure of inflation) increased by 7.1 percent as against 3.3 percent  in FY00. Similarly, money supply (M3) grew by around 16.2 percent as against 14.6  percent a year ago. The growth in aggregate deposits of the scheduled commercial banks at 15.4  percent in FY01 percent was lower than that of 19.3 percent in the previous  year, while the growth in credit by SCBs slowed down to 15.6 percent in FY01  against 23 percent a year ago. The industrial slowdown also affected the earnings of listed banks. The net  profits of 20 listed banks dropped by 34.43 percent in the quarter ended  March 2001. Net profits grew by 40.75 percent in the first quarter of 2000-2001, but dropped to 4.56 percent in the fourth quarter of 20002001. On the Capital Adequacy Ratio (CAR) front while most banks managed to  fulfill the norms, it was a feat achieved with its own share of difficulties. The  CAR, which at present is 9.0 percent, is likely to be hiked to 12.0 percent by  the year 2004 based on the Basle Committee recommendations. Any bank  that wishes to grow its assets needs to also shore up its capital at the same  time so that its capital as a percentage of the risk-weighted assets is  maintained at the stipulated rate. While the IPO route was a much-fancied one  in the early ‘90s, the current scenario doesnt look too attractive for bank  majors. Consequently, banks have been forced to explore other avenues to shore up  their capital base. While some are wooing foreign partners to add to the  capital others are employing the M A route. Many are also going in for right  issues at prices considerably lower than the market prices to woo the  investors. Interest Rate Scene The two years, post the East Asian crises in 1997-98 saw a climb in the global  interest rates. It was only in the later half of FY01 that the US Fed cut interest  rates. India has however remained more or less insulated. The past 2 years in  our country was characterized by a mounting intention of the Reserve Bank  Of India (RBI) to steadily reduce interest rates resulting in a narrowing  differential between global and domestic rates. The RBI has been affecting bank rate and CRR cuts at regular intervals to  improve liquidity and reduce rates. The only exception was in July 2000 when  the RBI increased the Cash Reserve Ratio (CRR) to stem the fall in the rupee  against the dollar. The steady fall in the interest rates resulted in squeezed  margins for the banks in general. Governmental Policy: After the first phase and second phase of financial reforms, in the 1980s  commercial banks began to function in a highly regulated environment, with  administered interest rate structure, quantitative restrictions on credit flows,  high reserve requirements and reservation of a significant proportion of  lendable resources for the priority and the government sectors. The  restrictive regulatory norms led to the credit rationing for the private sector  and the interest rate controls led to the unproductive use of credit and low  levels of investment and growth. The resultant ‘financial repression led to  decline in productivity and efficiency and erosion of profitability of the  banking sector in general. This was when the need to develop a sound commercial banking system was  felt. This was worked out mainly with the help of the recommendations of the  Committee on the Financial System (Chairman: Shri M. Narasimham), 1991. The resultant financial sector reforms called for interest rate flexibility for  banks, reduction in reserve requirements, and a number of structural  measures. Interest rates have thus been steadily deregulated in the past few  years with banks being free to fix their Prime Lending Rates(PLRs) and  deposit rates for most banking products. Credit market reforms included  introduction of new instruments of credit, changes in the credit delivery  system and integration of functional roles of diverse players, such as, banks,  financial institutions and non-banking financial companies (Nbfcs). Domestic Private Sector Banks were allowed to be set up, PSBs were allowed  to access the markets to shore up their Cars. Implications Of Some Recent Policy Measures: The allowing of PSBs to shed manpower and dilution of equity are moves that  will lend greater autonomy to the industry. In order to lend more depth to the  capital markets the RBI had in November 2000 also changed the capital  market exposure norms from 5 percent of banks incremental deposits of the  previous year to 5 percent of the banks total domestic credit in the previous  year. But this move did not have the desired effect, as in, while most banks  kept away almost completely from the capital markets, a few private sector  banks went overboard and exceeded limits and indulged in dubious stock  market deals. The chances of seeing banks making a comeback to the stock  markets are therefore quite unlikely in the near future. The move to increase  Foreign Direct Investment FDI limits to 49 percent from 20 percent during the  first quarter of this fiscal came as a welcome announcement to foreign  players wanting to get a foot hold in the Indian Markets by in vesting in willing  Indian partners who are starved of net worth to meet CAR norms. Ceiling for  FII investment in companies was also increased from 24.0 percent to 49.0  percent and have been included within the ambit of FDI investment. IDBI bank: all about The economic development of any country depends on the extent to which its  financial system efficiently and effectively mobilizes and allocates resources. There are a number of banks and financial institutions that perform this  function; one of them is the development bank. Development banks are  unique financial institutions that perform the special task of fostering the  development of a nation, generally not undertaken by other banks. Development banks are financial agencies that provide medium-and long-term financial assistance and act as catalytic agents in promoting balanced  development of the country. They are engaged in promotion and development  of industry, agriculture, and other key sectors. They also provide  development services that can aid in the accelerated growth of an economy. The objectives of development banks are: To serve as an agent of development in various sectors, viz. industry,  agriculture, and international trade To accelerate the growth of the economy To allocate resources to high priority areas To foster rapid industrialization, particularly in the private sector,  so as to provide employment opportunities as well as higher production   To develop entrepreneurial skills To promote the development of rural areas To finance housing, small scale industries, infrastructure, and social  utilities. 2.2 Introduction to the Bank IDBI the tenth largest development bank in the world has promoted world class institutions in India. A few of such institution built by IDBI are the National Stock Holding Corp. (NSE), the National Securities Depository Services Ltd.( NSDL ) Stock Holding Corp. of India (SHICL) etc. IDBI is a strategic investor in a plethora of institutions, which have revolutionized the Indian Financial Markets. IDBI promoted IDBI BANK to mark the formal foray of the Idbi group into commercial Banking. Idbi Bank, which began with an equity capital base of Rs. 1000 million (Rs.800 million contribute by IDBI and Rs. 200 millions by SIDBI), commenced its first branch at Indore in November 1995. The birth of Idbi bank took place after RBI issued guidelines for entry of new private sector banks in January 93. Subsequently, IDBI as promoters sought permission to establish a commercial bank and retained KPMG a management consultant of international repute to prepare the principle approval to establish Idbi bank on February 11th 1994 thereafter the bank was incorporated at Gwalior under companies act on 15th September 1994 with its registered office at Indore. The Certificate of Commencement of Business was received on 2nd December 1994. Banks registered office is in Indore and Head Office in Mumbai. One of the reason for the growth of Indian banks like ICICI and IDBI is that they have been allowed freedom to open any no. of branches in a particular city or suburb. They have also been given the freedom to open ATMs unlike in both cases the foreign banks who have been restricted in both of these areas. 2.3 Management Organisation IDBI Bank is a Board-managed organisation. The responsibility for the day-to-day  management of operations of the Bank is vested with the Chairman Managing  Director and two Deputy Managing Directors, who draw upon the support and  expertise of a cross- disciplinary Top Management Team. As on March 31, 2008, IDBI  Bank had a combined employee base of 8989, including professionals from the fields  of accountancy, management, engineering, law, computer technology, banking and  economics. Mr. Yogesh Agarwal, Chairman Managing Director Mr. Jitender Balakrishnan, Mr. O.V. Bundellu, (Deputy Managing Director) (Deputy Managing Director) OTHER BOARD OF DIRECTORS 2.4 IDBI Bank business chart 2.5 IDBI bank organizational chart 2.6 Products Services Free services Following services are provided to every type of A/C holder in general- ATMs : Besides cash withdrawals, some of the important things that you can do through the International Debit cum ATM card are : Balance Enquiry Statement Request Cheque-book Request Mini statements Cheque and Cash Deposits International usage Make purchases at 51,000 merchant establishments in India and over 10 million worldwide. Fabulous discounts and great deals at various establishments Internet Banking: Internet Banking gives you the power to access your bank account from your Personal Computer. Some of the important features of Internet Banking are : Account Balance Inquiry Transaction tracking and history Cheque status inquiry Funds transfer facilities to Own-account or third-parties Cheque book Requests Stop payment Requests FD renewal Requests Phone Banking: Just pick up your phone and access your account. The following features are available through Phone Banking : Available round the clock 24*7*365 Current Balance Inquiry Last 5 transactions inquiry Statement by fax fax-back, fax to another number, fax to registerednumber, Statement by mail Cheque status enquiry Cheque book request Balance as of a particular date Mobile Banking: The unique feature is that this facility is available across all mobile service providers. Balance enquiry Details of Last three transactions Cheque payment status Cheque book request Statement request Other services Sunday Banking Some of our branches are also open on Sundays that gives you an opportunity to complete all your banking requirements at your convenience. Locker Our branches provide lockers facility at nominal charges Who can open Account? Resident Individuals, Minors, Hindu Undivided Family (HUF), Trusts, Associations, Clubs, Societies, Foreign National residing in India can open a/c. Documents required for Account Opening: Account opening form Latest passport size photograph Self cheque or cash deposit Copy of passport In the absence of passport copy, copy of one document each from List A and List B is required: List A Voters ID card * Defense services Id/ Government ID Driving License * PAN card Photo credit card List B Latest bank account/credit card statement Latest electricity/telephone/mobile phone bill Latest copy of LIC policy or insurance premium receipt Latest copy of NSC Letter from employer certifying current mailing address Latest house lease agreement SuperSavings Account An assortment of benefits, earnings and convenience. Be it happiness in life or more time for yourself, you have always desired more  of it. So why settle for less with your savings account? The SuperSavings Account is a complete financial package that provides you  with easy access to your money and complete banking convenience too. It  offers you a whole range of options for optimal management of your money. Which means, with SuperSavings Account you not only save your money but  also make it grow. So apart from the basic benefits of a savings account, we offer you options for  faster transfer of funds, options to pay your bills or tax online and options to  grow money at attractive interest rates in the savings account. All these  features are offered for a minimum balance of Rs 5,000. Please click on the  links given below to find out more about each of these features. The SuperSavings Account is a complete financial package that provides you  with easy access to your money and complete banking convenience too. It  offers you a whole range of options for optimal management of your money. Which means, with SuperSavings Account you not only save your money but  also make it grow. Roaming Current Account A Current account for every business No two businesses are the same, which is why IDBI Bank offersfive Roaming Current Accounts Gold to suit your business needs. Based on the balance you choose to maintain in the account,  you can then choose your specific Roaming Current Account accordingly. IDBI Bank Current Accounts not only gives you the flexibility of banking  anytime, anywhere, but also allows you to save more money while doing  business across the country. Roaming Current Account from IDBI Bank comes packed with a host of  services and facilities that makes your banking convenient and hassle-free. With services such as multi-city and multi-branch banking, electronic funds   transfers, national clearing in selected cities, 247 cash withdrawals from  ATMs, Internet Banking, Phone Banking and SMS Banking, you are assured  of faster remittances and collection of funds at competitive rates. Whats  more, extended IDBI Banking hours and Sunday Banking, all this to simplify  banking for you! Features:- Make payments to your vendors in different cities without any costs. Receive payments form your customers without any charge deducted from the  amount Do all your banking right from where you are or wherever you travel Most importantly, maintain better relations with your vendors and customers. All this, only with the IDBI Bank RoamingCurrent Account. You can open a Current Account (Basic RoamingCurrent Account)with only  Rs 10,000. Keep in mind, you will have to maintain an average quarterly  balance of Rs 10,000. But this is nothing compared to a host of services and  facilities that will make your current account work more effectively and  efficiently. Open Current Accounts Following can open current A/c: Sole Proprietorship Firm Partnership firm Private and Public Limited Companies Hindu Undivided Family Trusts Societies, Clubs Associations Documents required for account opening: Sole Proprietorship Account opening form Signed declaration in the Account Opening form Passport Copy or Self-cheque along with a copy of (any one) >> Voter ID card >> Defence Id/Govt ID >> Driving License >> PAN card >> Photo credit card In addition the following forms are required Proof of existence of sole proprietorship firm (any one) >> Electricity/Telephone bill for the sole proprietorship firm >> Shop and Establishment certificate >> Proof of PAN /GIR No or Form 60 (only for cash deposits) >> Latest passport sized photograph of the sole proprietor If the address mentioned in any of the above documents is different from that stated in the account opening form, kindly submit any one of the following to confirm the present address >> Ration card >> gas connection receipt >> latest telephone bill >> latest electricity bill Partnership firm Account opening form Signed declaration in the Account Opening form Passport copies of all partners or Self-cheque along with a copy of (any one) >> Voter ID card >> Defence Id/Govt ID >> Driving License >> PAN card >> Photo credit card In addition the following forms are required Proof of existence of partnership firm (any one) >> Shop and Establishment certificate >> Copy of registration certificate >> Copy of partnership deed >> Letter of consent signed by all partners (as per banks format) Private Limited and Public Limited Companies Account opening form Copy of certificate of incorporation Names and latest passport sized photographs of the authorized signatories Certified true copy of memorandum and articles of association Certified true copy of commencement of business PAN /GIR No details or Form 60 Names, addresses of directors of the companies Certified true copy of board resolution Hindu Undivided Family Account opening form Signed declaration by Karta and Co-parcenors in the Account opening Form Names and signatures addresses of Karta and co-parcenors Names, signatures and latest passport sized photographs of authorized signatories PAN /GIR No details or Form 60 Trusts Account opening form Copy of Trust Deed Copy of the resolution of the Trustees Copy of registration certificate Names and latest passport size photographs of the authorized signatories Names, addresses of the trustees Clubs/Societies and Associations Names and signatures and latest passport sized photographs of authorized signatories Copy of rules and by-laws Copy of the resolution of members for account operation Copy of registration certificate Account Opening Form Idbi banks Business Special Current account gives a host of free services and facilities that ensure optimal utilization of funds, higher liquidity and cost savings. At he same time you dont have to keep a higher minimum balance. You need to keep an Average quarterly balance of Rs. 50,000 only to avail the free services Business Premium Bronze (Rs. 1 lac-AQB) Type of Accounts: Bronze Average Quarterly Balance (AQB):1lac Free funds transfers (per month) Cheque payable locally (in over 65 idbi bank locations) :1.5 cr Demand Draft per day (on over 65 idbi bank locations) :10 lack Demand Draft (on over 300 non-idbi bank locations) :chargeable Electronic Funds Transfers :1.5 cr Pay Orders : un limited Free cheque collection (per month) Outstation cheque collection (on idbi bank locations) :50 lac Daily cheque pick-up from your establishment* :Yes Free Inter-branch banking Any branch cash withdrawal (per day) : 1lac Any branch cash deposit (per day) : Rs 20,000 Total limit for Free transactions (per day) : 6.86 cr Cost saving to the customer per year : 16 lac Also available Basic Current Account (AQB of Rs 10,000). you get monthly statement of account, certificate of balance, seep-in from FD and Net, Phone and Mobile banking facilities all FREE Business Premium Silver (Rs. 3 lacks -AQB) Types of Accounts: Silver Ø Average Quarterly Balance (AQB):3lac