The trait perspective and the ten personality disorders Essay

One of the major theoretical areas in the study of the personality is the trait perspective. It suggests that individual personalities are comprised of broad dispositions, and it identifies and measures the characteristics that they are made up of (Cherry). The trait perspective helps to identify a person’s personality type (Myers). This perspective focuses on the difference between individual personalities and the traits that shape them. A trait is a stable characteristic that causes an individual to behave a certain way. A person’s personality is made up of a special combination of various traits that are unique to each individual (Cherry). In 1936, psychologist Gordon Allport categorized all of the traits into three levers:†¦show more content†¦There are ten personality disorders, each of which describes different malfunctions in the person’s characteristic combination. These disorders are categorized into three clusters; cluster A, cluster B, and cluster C. Disorders are placed into the cluster with other similar disorders. Cluster A is the â€Å"odd, eccentric† cluster, so paranoid personality disorder, schizoid personality disorder, and schizotypal personality disorder fit into this group. Cluster B is the â€Å"dramatic, emotional, erratic† cluster; it contains antisocial personality disorder, borderline personality disorder, histrionic personality disorder, and narcis sistic personality disorder. And lastly, cluster C is the â€Å"anxious, fearful† group, in which avoidant personality disorder, dependant personality disorder, and obsessive-compulsive disorder are placed (Hoermann). First of the disorders of cluster A is paranoid personality disorder. With this disorder, the patient normally has a history of pervasive distrust and suspiciousness of others. He or she will almost always believe the motives of others to be malevolent. Someone with this disorder will have extreme paranoia, causing him or her to think that everyone is out to harm him or her, even though there is no evidence to prove this, which results in the destruction of virtually every relationship he or she has. A person with paranoid personality disorder is self-sufficient and has a strong sense of autonomy. He or she wouldShow MoreRelatedEssay on Family Dysfunction and Anorexia: Is there a correlation?1227 Words   |  5 PagesIntroduction Each year millions of people in the United States develop serious and often fatal eating disorders. More than ninety percent of those are adolescent and young women. The consequences of eating disorders are often severe--one in ten end in death from either starvation, cardiac arrest, or suicide. Due to the recent awareness of this topic, much time and money has been attributed to eating disorders. 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Anthropology Relation with Other Social Sciences - 2821 Words

Anthropology (from the Greek word á ¼â€žÃŽ ½ÃŽ ¸Ã Ãâ€°Ãâ‚¬ÃŽ ¿Ãâ€š, human or person) consists of the study of humanity (see genus Homo). The discipline is a holistic study, concerned with all humans, at all times, in all humanitys dimensions. Anthropology is traditionally distinguished from other disciplines by its emphasis on cultural relativity, in-depth examination of context, and cross-cultural comparisons. Anthropology is methodologically diverse, using both qualitative and quantitative methods, such as firsthand case studies of living cultures, careful excavations of material remains, and interpretations of both living and extinct linguistic practices. In North America and other Western cultures, anthropology is traditionally broken down into four main†¦show more content†¦Anthropology grew increasingly distinct from natural history, and by the end of the nineteenth century, it had begun to crystallize into its modern form. By 1935, for example, it was possible for T. K. Penniman to write a history of the discipline entitled A Hundred Years of Anthropology. Early anthropology was dominated by proponents of unilinealism, who argued that all societies passed through a single evolutionary process, from the most primitive to the most advanced. Non-European societies were thus seen as evolutionary living fossils, which could be studied in order to understand the European past. Sch olars wrote histories of prehistoric migrations that were sometimes valuable, but often also fanciful. It was during this time that Europeans, such as Paul Rivet, first accurately traced Polynesian migrations across the Pacific Ocean—though some of them believed those emigrations had originated in Egypt. Finally, concepts of race were developed with a view to better understand the nature of the biological variation within the human species, and tools such as anthropometry were devised as a means of measuring and categorizing this variation, not just within the genus Homo, but in fossil hominids and primates as well. Unfortunately, racialist concepts were abused by a few and gave rise to theories of scientific racism, which died out by the middleShow MoreRelatedThe Origins Of Structural Anthropology1030 Words   |  5 Pages2015 Claude Levi Strauss THE ORIGINS OF STRUCTURAL ANTHROPOLOGY Structural analysis, at its core, is an attempt to comprehend things beyond the system of human understanding. It’s meant to be an objective, purely scientific approach untarnished by human cultural and social systems. Claude Là ©vi-Strauss saw this pure science being applied in linguistics, among the social sciences, and applied its objective principles and methods to anthropology. 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DHL Express GIS Solution free essay sample

DHL was an innovative leader in the worldwide shipping business for many years. The company joined in Deutsche Post which is modern privatized German mail service. Deutsche Post made Airbone Express to join thier company and integrated Airbone Express in to DHL. By this way, Deutsche Post created DHL Express in 2003. DHL Express is a large company, which employs 550. 000 people and manages the shipment packages and goods in 220 countries and territories. In this case, DHL Express seeks for an improvement focused on Pickup and Delivery System in Sweden. Due to DHL Express’s system in the case, drivers of fleet were spending average 30 minutes of their shift for adjustments, which is an valuable time for a large company such as DHL Express. 2. Problem of The Company DHL Express always on lookout for improving their business. In the case, the company tackled the challenge of streamlining their Pickup and Delivery system in Sweden. We will write a custom essay sample on DHL Express GIS Solution or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In sweden DHL express Operates 1. 400 vehicles. PuD represents 40% of the total cost of DHL’s daily operations. Every morning, DHL drivers were spending 30 minutes of their time on tour sorting goods that needed to be delivered. At that time packages were being sorted by postal codes, resulting in piles of shipments shared by four or five vehicles. Drivers were speding time looking though piles, then they were moving the packages to their gates. Which means, Long searching time Long loading time Hence, too much room left for human error. 3. Solution DHL Express choice was ESRI Geographic Information System software to improve sorting and sequincing in the loading area. Software is using a mainframe enviroment. By this way, DHL Express will be able to allocate resources through the Web to each terminal. Staff members will be allowed to use ArcGIS (GIS software’s name) to manage routes and stops. Also,staff will be able to edit geographic data when its needed. Whereby,all sequincing is done at night. ArcG? s Works in several steps, Data entry staff enter the information fort he next day’s deliveries into the main computer system Information is loaded into ArcGIS server ( where shipment adresses are geocoded and checked against a map to determine the zone to each shipment belongs) Zones are created based on routes and drivers These zones are clustered and optimized into tours based on allocation rules and driver input. Lastly, delivery notes and sort code file synchronized with shipments. 4. Benefits Deliveries are placed at the correct gates by the time drivers arrive at the terminal. Being able to optimize the number of tours per terminal help DHL minimize its fleet and driving distances of each vehicle. Optimizing routes daily reduces the effort and resources needed during peak shipment periods. 5. Results Now, DHL express is able to sort to each particular tour instead of a larger, less specific postal code. Whereby, they reduced the time spent and manpower needed to sort, search, and sequence the loading area by 50% which means time savings are equivalent to 30 minutes per tour per day(600 man hours each day) . As a result, DHL Express opreates 1200 tours per day from terminals. DHL Express created an optimum network by using ArcGIS, this lowered total transportation cost and minimized the distance driven by each vehicle. Optimized tours also lowered Pickup and Delivery and fleet cost. By ArcGIS, correct prices and delivery time Windows can be given to clients, which increases satisfaction and fosters customer loyalty. To sum up; Bottom line results are increased Service to customers improved Accurate drive times decreased Company’s impact on the enviroment is lessened.

Midwifery Profession Pros And Cons Essays - Midwifery, Childbirth

Midwifery Profession: Pros And Cons Support for the Midwifery Profession: Pros and Cons The tradition of midwifery virtually disappeared in Canada during the early part of this century. Several generations of women gave up childbirth at home to the medical profession. They did this in the name of safety and pain relief, or simply because the option of being cared for by a midwife no longer existed. Midwifery should be re-instated as a legal and honourable profession. With healthy pregnancies and under normal conditions, women should give birth at home with the professional assistance of a midwife. The most common argument against home births and midwifery are perpetuated by the medical establishment. As a profession, they openly oppose to lay midwifery, and as Dr. William Hall, president of the College of Physicians, said, he and the college oppose home births because they feel it is unsafe. (Ramondt, 1990) Undoubtedly, the medical profession is correct in protesting home births in certain cases. Some pregnancies are difficult and some births are problematic. It is not difficult to concede that there are times when sound medical intervention is a necessity and a blessing. To insist, though, that every birth requires a hospital setting and the attendance of a doctor with ten years training is, as many experts in the field agree, rather ludicrous. A study done by Dr. Lewis Mehl (cited in Barringtonm, 1985), matched a population of 421 women attended by physicians with 421 women attended by midwifes at home. The midwife sample fared far better with significantly less fetal distress, birth injuries, and infants needing resuscitation. The former head of the International Confederation of Gynecology & Obstetrics, Dr. Caldero Barcia, goes as far to state that, iatrogenia (doctor-caused illness) is the main cause of fetal distress (Barrington, 1985, p. 122). Furthermore, the routine of use of medical procedures initially developed to protect high-risk mothers and babies are often used by doctors simply as preventive measures. An episiotomy (cutting the perineum) is done in 80% of hospital births. Midwives use it less than 1% of the time. Labour is induced 40% of the time in hospitals; whereas, midwives never induce births. Cesarean sections are performed in 16.3% of hospital births while they rate for midwifery is only 307% (Hopkins, 1990). Some doctors will argue the comparison of the rates ignores the reality that hospitals deal with most of the high-risk births. According to Dr. Malcolm Brown, a health care economist at the University of Calgary, however, the high rate of cesareans done in hospitals is because, doctors find it convenient and they make money on them (Ramondt, 1990). Physicians also collect extra fees for inducing labour and for giving spinal blocks. These realities make it questionable whether or not to use these proce dures are used in only high-risk situations as originally intended. As well, giving birth at home offers parents and opportunity that hospitals cannot give. At home they are free to create an atmosphere of their own choosing for the birth. These greatly increase the chance for both parents to have a meaningful and personal experience. There is comfort and convenience in having the midwife come to them in surroundings that are familiar and emotionally safe. Eleanor Barrington (1985) states that studies suggest that a mother's biting experience relates to the baby's motor and cognitive development at two and six months of age (p. 122). Feeling good about the birth experience would appear to enhance the mother/child relationship and, consequently, the child's development. This is a consideration that midwives take seriously and is reflected in the quality of care and support that they offer throughout the entire experience. Finally, a home birth presided over by a midwife is, in the long run, less costly. Alberta Health Care pays physicians $284 for a delivery. This does not include costs for hospitalization, pre- or post-natal care, or any additional costs that may arise out of inducement of labour, cesareans, spinal blocks, or other services. The cost for an average hospital bed per night is $450. With the average stay for a birth being three to seven days, the cost to the taxpayer is very high. Midwives, on the other hand, charge between $400 and $1000 for a package that includes pre-natal

The Inner Workings of a Gold Loan Essays

The Inner Workings of a Gold Loan Essays The Inner Workings of a Gold Loan Essay The Inner Workings of a Gold Loan Essay Essay Topic: The Birthday Party â€Å"Gold Loans- The Old Concept in a New Package† Introduction: It has been observed recently that Indians own more gold than the citizens of any other country. They use the glittering metal as ornaments to flaunt family wealth, as a source of retirement savings and as insurance against calamities. Gold and domestic savings: In rural areas in India, due to the lack of access to banks the poor continue to invest their savings mainly in gold. Also, there are strong cultural factors at work in India which make gold not only a desirable but also a necessary asset to hold. But lately, gold has become something else: collateral, and the basis of one of the country’s fastest growing businesses, gold loans. It is therefore an apt moment to acquaint the reader with an insider’s perspective on why gold loans matter and why they hold so much promise for our country’s future. The purpose of this paper is to present a consolidated review of the various facets of the gold loans spreading with speed in India to the readers. Gold Loan: Gold loan  is a secured loan issued by lenders against gold as the undersigned asset. Gold loan gives an opportunity for people to liquefy the value of their jewelry items and use it for financing purposes. Rise in gold prices have increased the disbursal of Gold Loans in the middle and upper middle class. With changing times working women are becoming financially independent and taking active part in decision making process. They are working in unison with their husbands to ensure a bright and secured future for their family. As the couples are well employed, they seek to return the principal even within a month of receiving their salary. They are now using such loans to finance their children’s education, (particularly for meeting donation demands), which a bank will not entertain, car purchases, holiday trips or even to put up margin money for a home buy. The loan process begins once the gold is deposited with the lenders. After a ‘purity’ check is done, lenders may  offer  loans  for as high as 80% of the gold’s worth. While the gold market has only shown an ascent, lenders still consider the risk that gold carries and thus are reluctant to issue more than 80% of the value. Gold loans today are issued both by banks and non-banking companies. Objectives of the Study: The main objective of this study is to present a comprehensive picture of gold loans currently prevailing in India. Lending against gold being one of the oldest businesses of India is being served in an altogether different style which is organized and regulated. The business which was until lately dominated by unorganized money lenders has attracted all from organized Non-banking finance companies to banks in the public and private sector. The study aims at- * To examine the present scenario of gold loan industry in India whether organized or unorganized. To discover the reasons; appearing as advantages; for the growing popularity of such a business. * To compare gold loans with the personal loans. * To chalk out some precautions to be adhered to while availing gold loans. Methodology: Sources of data: The data for the study has been collected from- a) Internet b) Journals c) Articles of well known Newspapers d) Published reports of IMACS Literature Review: Gold Demand in India India is one of the largest markets of gold accounting for nearly 10% of total world stock with 18,000 tonnes of gold [IMaCS Industry Report (2010 Update)] ? Value of gold stock in India has grown at 22% CAGR from FY02 to FY10 ? Despite increase in gold prices from Rs. 15,026 to Rs. 51,150 per ounce between 2002 and 2009, the demand for gold remained relatively stable at around 700 tonnes, which clearly demonstrates the price in-elasticity ? Rural India is estimated to hold ~65% of the gold stock which depicts the concentration. ?Southern India is the largest market accounting for 40% of India’s gold demand, followed by West at ~25%, North at 20-25% and East at 10-15% of annual Gold demand [Mannapuram Finance in Jan 2011] Gold Finance Industry in India India being one of the largest markets for gold, several gold based financial products have been made available to retail consumers here from time to time with a view to bring the gold holdings to the core financial market. Lending against gold has been one of the most popular instruments based on gold, and it works well with the Indian rural population, which typically views gold as an important savings instrument that is liquid and can be converted into cash instantly to meet their urgent cash requirements. Moreover, since traditional times gold owners in southern India have been more open than elsewhere in the country to accept and exercise the option of pledging gold to borrow money (Source: IMaCS Industry Report 2009). In an effort to tap the market for gold related investment and services, companies in the financial sector have launched several products such as gold coins and bars; exchange traded gold funds and lending against gold. Gold Loans have emerged as key gold based financial products, and in the year ended March 31, 2010, the organized Gold Loans market in India was estimated at between `350 billion and ` 400 billion with a CAGR of approximately 40% during fiscal 2002 to fiscal 2010. Notwithstanding the above, the organized Gold Loans portfolio accounted for merely 1. 2% of the value of total gold stock in India. Despite the increase the experts still feel that the gold loans market is significantly under-penetrated and is expected to continue growing at the rate of 35-40% in the future. (Source: IMaCS Industry Report (2010 Update). The organized lenders; particularly NBFCs have become more aggressive in the gold loans market, charging interest rates that vary from 18% to 24%. Organized gold loans portfolio translates into a marginal 0. 12% of the value of total gold stock in India. A significant part of the gold loans may shift from the un-organized lenders to the organized lenders. South India continues to account for 85-90% of the gold loans market in India. However other areas also provide scope for expansion. There are no publicly available aggregate data about gold loans, but finance companies that specialize in them are growing fast. Manappuram, a pioneer in the business, made $730 million in gold loans in the year 2008 - up from $397 million a year earlier. Muthoot Finance, a privately held firm, said its lending was growing at 60 percent a year [â€Å"The New York Times† (Sept 28, 2009)]. By contrast, total outstanding bank loans to the private sector have increased 16 percent last year, year over year, and have been essentially flat so far this year. Though the financial system in India is becoming more inclusive, it still has not reached many people. More Indians, for instance, own gold than own stocks or mutual funds. It has been found that only around 5% of the Indian educated class does understand about working and investing in stock markets. The total value of gold in private hands is roughly 60 percent of deposits in banks, according to data from the World Gold Council and India’s central bank. A 2006 government survey found that less than 41 percent of Indian households had bank or post office savings accounts. By contrast, 92 percent of American households had bank accounts. The growth in size of the gold loan market has been manifold and is clearly visible as in FY 2002 the market for gold loans stood at a meager figure of less than Rs. 0 bn which rose a little above Rs. 100 bn in 5 years by FY 2007. The growth was almost double in next 2 years by FY 2009 the gold loan market has almost multiplied three fold since FY 2007 till FY 2010 to near about Rs. 400 bn. Source:  IMaCS Industry Report  (2010 Update) Features of a Gold Loan Gold loans come with  higher  interest  rate s  and have a processing fee as well. There are instances where the interest rates go as high as 27% per annum. However, the private lending businesses, especially new entrants, offer lower rates and gold loans in strategic ways such as without levying any processing fess. It is fortunate that most lenders do not charge any evaluation fee even when the  loan  amount  is based on the quality of gold. They prefer to play it safe by offering a lesser amount of loan than the gold’s actual value. Most loans span 3 months to 12 months and the borrowers have the choice of prepaying at any time. Non-banking companies let borrowers choose their terms as well. Typically, the tenure on a gold loan falls around one year to two year with some lenders even extending loan for three years. The documents required are residential proof and a recognised photo identity for example a PAN card, voter Identity card or driving license. The banks may take an hour to a day to extend the gold loan. On the other hand, NBFCs like Muthoot Finance and Manappuram, going by their advertisements, extend the loan within minutes. The average rate of interest they charge falls around 11 % 14 %. However, some NBFCs are charging a much higher interest rate of 20-24 %. Many banks impose reasonable restrictions against the loan money being used for stocks trading. In comparison, private lenders are slightly moderate in issuing any such restrictions. Why Gold Loans? Some of the reasons discovered for the growing popularity of gold loans in the form of advantages to customers in India are: 1. Continuous Increase in Gold prices- Gold price is increasing on an average by @ 20% per annum over the last five years. With gold prices continually rising, people find it a wise decision to take a loan against the gold. Say for eg: one has a gold ring and does’nt wish to sell it but needs cash. One simply has to stop by any of the gold loan offices of a company or banks so that their gold can be valued and they can get cash. The added advantages are that  people no longer have to sell their gold and the company does not run credit checks also! 2. Interest rates of  loans  are lower than that of unsecured loans (Personal Loan) Pawnbrokers and money lenders have long operated in India’s back alleys, making loans against jewelry to families in distress in rural as well as urban areas, at interest rates of 30 percent or more. But gold loans made by banks and finance companies are regulated the rates charged are lower - 14 to 30 percent. These policies have led to chances of further increase in their businesses. 3. Fast and easy option to obtain  loan  from NBFCs (Non-Banking Finance Companies) as well as Banks to meet short-term financial requirements- People do not have to wait till the long processing time finishes. The loan is approved in very short duration with least hassles and processing delays. Since it has collateral therefore risk is mitigated to a large extent. Drivers of Growth in Gold Loans Market in India A retail research report prepared by HDFC Securities found that the key usiness drivers of the gold loan market in India have been the following: a) Regulatory incentives to lenders: The prescribed risk weight on gold loans has been approximately 50% for commercial banks, further reducing the associated capital costs thus proving a beneficial deal for those engaged in its provision. b) Policy focus: The Government of India views gold loans as an effective means to meet the potential micro- finance demand in India. In fiscal 2007, the Government of the state of Tamil Nadu set a jewelry loans target of ` 60 billion (75% of the total loan disbursement target) for co-operatives in Tamil Nadu. ) Cash crunch arising out of global slowdown- Gold loan firms have also benefited from the financial crisis. In the last year and a half, many lenders have stopped making unsecured personal loans because of the rising default cases in India. d) Increasing interest of the lenders in the segment: Considering the recent rise in default rates (which was expected to vary from 8-10% in fiscal 2009) in personal loans, banks have started focusing on the gold loans segment because it offers attractive returns (although lower than personal loans) with very low levels of defaults. Several private sector banks have started participating in the segment by getting into bilateral sale agreements with NBFCs that specialize in gold loan. A few private sector banks like HDFC Bank have already initiated efforts to tap into such segments. e) High levels of indebtedness: The National Sample Survey Organization (NSSO) 2003 survey on situational assessment of farmers’ indebtedness in the country has estimated that 60. 4% of rural households in India were farmer households, out of which 48. 6% were indebted. The incidence of indebtedness was highest in the state of Andhra Pradesh (82%) followed by Tamil Nadu (74. 5%), Punjab (65. 4%), Kerala (64. 4%), Karnataka (61. 6%) and Maharashtra (54. 8 %). This shows the scope of a good business exists not only in down south but north India as the rural households hold gold and require easy terms of repayment which is readily available with NBFCs. f) Changing customer attitudes and preferences: Indian customers have demonstrated a change in their traditionally debt-averse psychology, promoting the creation of assets through growth in financial liabilities. Some of the other critical factors that can augment the growth of a gold loan company are a strong distribution network, faster turn around time, operational risk management through better technology, systems and processes, unique and customized product offering, access to low cost of funds and brand recognition due to heavy expenditure on advertisements. Source:indiainfoline. com How does a loan on gold work? The process of borrowing on gold as commonly specified by many of the gold loan companies seems  very easy. People simply bring them the gold and receive cash within a matter of minutes. All gold loans are usually 90 days long and can be paid off at the end of the term or extended for another 90 days. If people can’t pay back the gold loan in full at its maturity, they may surrender the gold as full payment. What type of gold can people borrow on? One can borrow loan against gold coins, gold rings, gold watches (working or not), broken jewelry, estate jewelry, collectible gold, gold figurines, gold charms. Basically, one can loan on any type of gold without regard for condition. Current Status of Gold Loan Companies in India- Non-Banking Finance Companies A non-banking finance company (NBFC) is a company registered under the Companies Act, 1956 and is engaged in the business of loans and advances, acquisition of shares/stock/bonds/debentures/securities issued by Government or local authority or other securities of like marketable nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, sale/purchase/construction of immovable roperty. A nonbanking institution which is a company and which has its principal business of receiving deposits under any scheme or arrangement or any other manner, or lending in any manner is also a non-banking financial company (Residuary non-banking company). It is mandatory that every NBFC should be registered with RBI to commence or carry on any business of non-banking financial institution as defined in claus e (a) of Section 45 I of the RBI Act, 1934. All NBFCs are not entitled to accept public deposits. Only those NBFCs holding a valid Certificate of Registration with authorization to accept public deposits can accept/hold public deposits. NBFCs authorized to accept/hold public deposits besides having minimum stipulated net owned fund should also comply with the directions such as investing part of the funds in liquid assets, maintain reserves, rating etc. issued by the Bank. As of June 2009 there were 12,740 NBFCs in India, mostly in the private sector (RBI Press Release, October, 2009). Role of NBFCs in the competitive landscape of the gold finance industry in India The further stated that a typical Gold Loan customer expects high loan-to-value ratios, easy access, low levels of documentation and formalities, quick approval and disbursal of loans, lockers to ensure safety of their pledged gold and a team of expert valuers. Specialized NBFCs have created a niche in the gold loans capabilities by meeting these requirements of the typical gold loan customers, who require gold loans primarily to meet their urgent cash requirements. NBFCs specializing in gold loans continue to perform strongly in the gold loans market and the overall statistics demonstrate that the relative share of traditional gold finance NBFCs in the market has not changed significantly over the last three years. In fiscal 2010, the Gold Loans market was largely concentrated between two categories of lenders: south India based SCBs (Scheduled Commercial Banks) and NBFCs specializing in gold loans which held approximately 58% and 32%, respectively, of the total market. The rest of the Gold Loans portfolio was held by several small co-operative banks. [Retail research report by HDFC Securities] NBFCs are the Fastest Growing Lenders in the Organized Gold Loan Market| Targeting Non-bankable customers| High Comfort Level: Transparency ; Trust| Minimal documentation and formalities| Quick approvals and disbursals| Flexibility in Terms of Loans| Easy Access due to Greater Penetration| Presence of expert valuers| Robust control systems| Ability to handle cash| Better Operating Cost Structures vis-a-vis Banks| Are gold loans better than personal loans? Comparing personal loan and gold loan, Manappuram Finance Managing Director I. Unnikrishnan said, â€Å"in times of emergency you need a loan almost immediately with minimum documentation, and without any evaluation of your loan repaying capacity and if you have gold it can be a better option compared to a personal loan where all these factors come into play. † Personal loans and gold loans are born equal. They attract almost the same kind of interest. While a personal loan can quickly turn in to a non-performing asset for banks, gold loans are designed to benefit the banks. Asian Correspondent. com (31st May 2011)] For someone who is serious about clearing the loan in due time, a gold loan might prove to be a better choice. On comparing the procedures of the two, gold loans look like a neat and clean process. Personal loans, if one would observe work a little differently as they are not secured by any asset but by the loan takers future earning potential and credit history. T here is an unspeakable necessity for submission of paperwork including pay-slips. A few calls are also made to the loan taker’s nearest and dearest friends. And that’s where gold loans score. For personal loans, there is no partial payment option. Here one either pays in full or gets on with the monthly payments. Gold loan provides partial payment flexibility. If you have some money to pay, you can go ahead and pay it. The outstanding amount will come down and so will the interest. The catch is one will not get any gold back for the amount one has paid. He/she can only release their gold after the complete principal amount is cleared. Gold loans’ only caveat or the obvious downfall for gold loans is that jewelry and ornaments will not be available when required. A friend’s wedding or a birthday party might just come when we don’t want them to. Keeping in view the above comparison without hesitation we can conclude that loans should be avoided at all times as all loans are born equal with a common objective- to lay interest on the person who takes the loan and make him or her work for them, at least for  a while. But if it is really required, a gold loan could be a better choice. Precautions before Availing Gold Loans Even though from the aforementioned discussion, gold loans may seem to be an easy option to borrow money there is a word of caution from the financial experts who advise that taking a gold loan for buying luxury items or for consumption purposes may not be a great idea. Being a secured loan, gold loans must be sought only after a careful assessment of one’s payment capabilities or else the gold might get forfeited. The  lenders  offer gold loans after much consideration and tend to ask about the purpose of the loan. Borrowers  need to ensure that the loan they take against gold is not meant for pure consumption or speculative purposes. They need to exercise caution with their investments or else they may end up losing the gold. * Another thing is to ensure is that there are no missed payments otherwise the default penalties can take the gold loan amount to an unmanageable balance. This also has an inevitable impact: it may spoil one ’s  credit  score. It is advised to take a gold loan in small sums and make sure that one has enough liquidity to repay the loan and get the gold back. The gold pledged with the lender is usually auctioned 12 months after the due date of repayment has lapsed. NCDEX Chief Business Officer Vijay Kumar has a smart advice for borrowers: â€Å"if you have a good quality hallmarked gold and the value of the gold you want to borrow is 60 % or less you may negotiate for lower interest rate from the lender. † * There are various parameters on which the tenure, interest rate and the level of negotiation would depend - like whether the gold is hallmarked or not, the tenure of the loan amount and what percentage of the value of the gold you would like to borrow. One should also not get carried away by the attractive interest rates on gold loans as there are half a dozen other charges for gold loans like the handling and processing fee of about 0. 25-0. 50 per cent, gold assessing charges of about one per cent and also custodial charges for safekeeping of your gold. [article in Financial Chronicle (June 23, 2011)] * Like most other loans gold loans too come with pre-closure charges though a few NBFCs promise exemption of these charges. Thus one needs to answer some these questions before approaching a gold loan company: * Do you really need a gold loan? How much money can be raised through gold loans? * What are the interest rates on gold loans? * What are the other charges? * How is the repayment process? The author of ‘Retire Rich Invest Rs 40 A Day’ PV Subramanyam, suggests to try a public sector bank for taking gold loan as gold loan is a secured  loan and banks are well regulated, are sound and carry lesser risk compared to a non-banking finance company. Since high emotional value is attached to the jewelry one pledges, it’s better to opt for a lender which is stable, well diversified and is in the gold loan business for a long period. Conclusion: Outlook of the Gold Loans Market in India Based on the assessment of the emerging dynamics and competitive landscape, the gold loans market is expected to grow at between 35% and 40% over the next three years (Source: IMACs Industry Report, 2009). Moreover, as the market is currently under-penetrated, it is expected that the gold loans market will offer enough opportunities for portfolio expansion and retain attractive margins for all existing specialized NBFCs, banks and new entrants. The branch expansion and marketing initiatives of various specialized NBFCs are anticipated to give a strong boost to the acceptability of gold loans and lead to further growth in the gold loans market. In addition, it is anticipated that the large public sector banks in southern India will continue to be amongst the leading lenders, but considering the various regulatory and operational processes, it would be challenging for the banks to match the flexible service regime of the specialized NBFCs. New NBFC entrants in the market are currently in a cautious preparatory mode to enter the gold loans market but it will take some time for these NBFCs to emerge as formidable competitors to specialized existing NBFCs. This is because it will take time for these new NBFCs to build the requisite focus, infrastructure (valuers, lockers, etc,) and branch network. Specialized NBFCs are expected to continue to hold their share of the Gold Loans market with their ability to provide superior and niche servicing capabilities to their exiting and future customers. References: 1. P V Subramanyam: ‘Retire Rich Invest Rs 40 A Day’ 2. The New York Times, newspaper article published on September 28, 2009 3. The Economic Times, newspaper article published on July 29, 2010 4. The Financial Chronicle, digital newspaper article published on June 23, 2011 5. IPO note on Muthoot Finance Ltd. ; prepared by HDFC Securities published on April 15,2011 6. Published presentation by Mannapuram Finance Ltd. For January 2011 7. IMACS Industry Report for 2009 ; 2010 8. www. deal4loans. com 9. www. asiancorrespondent. com 10. www. scottsdaleloancompany. com 11. www. goldprice. org

Athens Sparta essays

Athens Sparta essays The two most dominating city-states in Greece of their time, Athens and Sparta, were great rivals with two very different ways of life. Spartas overbearing military and Athens impartial justice system and government are models for many modern day countries. Even though these two city-states differ greatly from one another, they share many characteristics of their country and their time period. Athens and Sparta were the two most powerful Greek territories of their time. Like most cities of the same country, they have the same Greek culture, worshipping the same Greek gods and speaking Greek. Like all Greeks, their people loved to talk and tell stories. Although they fought against each other, their citizens equally had great amounts of pride for their entire country as well as their city-states. The two rivals were both devoted mainly to agriculture and based their wealth, but not their success, on agriculture. Both also participated in the annual Olympics, an ancient Greek national athletic competition which is now a worldwide tradition. These to Greek city-states were the most feared city-states in all of Greece. Though Athens and Sparta were similar, they were also very different. Athens was the first democracy, and it was also the first to govern with trial by jury. Athens main accomplishment was that it had a very strong Navy. It was the command of the sea and the head of the Naval Alliance, or the Delian League. Athens was the most feared city-state to fight at sea. Its other achievements were that is had excellent forms of art, architecture, drama and literature, philosophy, science, and medicine. It was very wealthy and had beautiful, extravagant temples. The boys of Athens went to school between the ages of five and eighteen, where they learned reading, writing, mathematics, music, poetry, sports and gymnastics. The girls stayed at home and learned spinning, weaving and domestic arts....

Law & Management Essay Example | Topics and Well Written Essays - 2000 words

Law & Management - Essay Example So, terms of the contract can be defined as the statements that administrate the requirements and rights of the parties to the agreement. Theses are elements that bind the accord and if infringed, legal action may result (Deakin & Markins 2008) Terms can be explicit or implied. Frustration of the contract is usually caused by reason like accidents, changes in statutes, health condition (illnesses) of one of the parties, interference from the third parties. Frustration of the contact is justification to non performance and automatically exonerates the accord with the exception of when the terms of the contact overrule this implied legitimate prerequisite. Nonetheless, frustration of contract cannot be cited as a reason for non performance in case the condition was predictable, and it's not applicable to some categories of contracts for instance insurance policies (Deakin & Markins 2008). Case Law- Harry should understand that he is already in a contract with Ian unless Ian has officially indicated that he does not want the motorcycle anymore. Implied contract is the agreement enforceable by statute and it's as a result of conduct, assumed intentions, or as a result of applying the law principles of equity. For instance, implied contract is when one willingly and knowingly accepts imbursement from another party in conditions where this benefit is clearly not a gift (Lunney & Oliphant 2003). Therefore having agreed to sell the motorcycle to Ian and later on planning to sell it to James is a breach of contract. Harry should find out from Ian if he is still interested in acquiring the motorcycle before making other plans for it. Tort of Negligence: is described as the breach of responsibility or one party failing to exercise the standard of care that is necessary by statute, causing damage to the other party to whom the responsibility was owed. Negligence has become the most essential of the Morden torts. This is because the reported cases of this kind are increasing very fast and due to the fact that the principle underlying it is of wide and general application (Deakin & Markins 2008) In tort law, one can be responsible for the damages caused if he/she owed the claimant duty of care. Duty of care is that legitimate responsibility that is obligatory to an individual or parties in question that demand them to adhere or comply with the standard of reasonable care whenever carrying duties or any activities that may predictably cause damage to others. In fact, this is usually the first element that has to be established for a claim for negligence can be filed (Deakin & Markins 2008) The claimant cannot claim that there is liability in law unless he/she is able to establish that he/she was owed the duty of care and that that duty owed was infringed. The defendant will have violated the duty towards the claimant if his/her conduct has fallen short what the standard care is as this is what was expected to be met in