1.
Nariman Point
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Nariman Point is a business district in Mumbai city. Formerly the prominent business district on Indias west coast, Nariman Point yielded that status to Mumbais Bandra-Kurla Complex in 2010, prior to Nariman Points development, Mumbais business centre was at Ballard Estate, which – like Nariman Point also – was built on land reclaimed from the sea. Prior to 1940, the area was part of the Arabian sea, a popular leader of the Congress, Khurshed Nariman, a Bombay Municipal Corporation corporator, proposed to reclaim the area from the sea near Churchgate. To accomplish this task, the seafront was filled with debris from various parts of the city. Reinforced concrete cement was used, the steel for which had to be purchased on the black market at higher prices due to World War II. The entire cost was estimated to be ₹300,000. Additional reclamations were carried out in the 1970s, a construction boom in that decade also led to the development of commercial high-rises in the area. In 2006, prior to the crisis of 2007–08, Nariman point was the 7th most expensive location in the world for office space. However, by December 2012 Nariman Point had fallen to 25th place while Delhis Connaught Place remained the 5th most expensive location despite many offices moving to Gurgaon, during the same period, Nariman Point also dropped from 7th to 15th most expensive location for office rentals. The reasons for the decline were the prices, lower quality and age of construction. In the first three quarters of 2012, Nariman Point had a rate of almost 25%, compared with 18% in the rest of the city. Air India had its headquarters in the Air India Building for many years, at one time All Nippon Airways maintained its Mumbai sales office in the Oberoi Towers in Nariman Point
2.
Mumbai
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Mumbai is the capital city of the Indian state of Maharashtra. It is the most populous city in India and the ninth most populous agglomeration in the world, Mumbai lies on the west coast of India and has a deep natural harbour. In 2008, Mumbai was named a world city. It is also the wealthiest city in India, and has the highest GDP of any city in South, West, Mumbai has the highest number of billionaires and millionaires among all cities in India. The seven islands that came to constitute Mumbai were home to communities of fishing colonies, during the mid-18th century, Bombay was reshaped by the Hornby Vellard project, which undertook reclamation of the area between the seven islands from the sea. Along with construction of roads and railways, the reclamation project, completed in 1845. Bombay in the 19th century was characterised by economic and educational development, during the early 20th century it became a strong base for the Indian independence movement. Upon Indias independence in 1947 the city was incorporated into Bombay State, in 1960, following the Samyukta Maharashtra movement, a new state of Maharashtra was created with Bombay as the capital. Mumbai is the financial, commercial and entertainment capital of India and it is also home to some of Indias premier scientific and nuclear institutes like BARC, NPCL, IREL, TIFR, AERB, AECI, and the Department of Atomic Energy. The city also houses Indias Hindi and Marathi film and television industry, Mumbais business opportunities, as well as its potential to offer a higher standard of living, attract migrants from all over India, making the city a melting pot of many communities and cultures. The oldest known names for the city are Kakamuchee and Galajunkja, in 1508, Portuguese writer Gaspar Correia used the name Bombaim, in his Lendas da Índia. This name possibly originated as the Old Portuguese phrase bom baim, meaning good little bay, in 1516, Portuguese explorer Duarte Barbosa used the name Tana-Maiambu, Tana appears to refer to the adjoining town of Thane and Maiambu to Mumbadevi. Other variations recorded in the 16th and the 17th centuries include, Mombayn, Bombay, Bombain, Bombaym, Monbaym, Mombaim, Mombaym, Bambaye, Bombaiim, Bombeye, Boon Bay, and Bon Bahia. After the English gained possession of the city in the 17th century, Ali Muhammad Khan, imperial diwan or revenue minister of the Gujarat province, in the Mirat-i-Ahmedi referred to the city as Manbai. By the late 20th century, the city was referred to as Mumbai or Mambai in the Indian statewise official languages of Marathi, Konkani, Gujarati, Kannada and Sindhi, the Government of India officially changed the English name to Mumbai in November 1995. According to Slate magazine, they argued that Bombay was a corrupted English version of Mumbai, Slate also said The push to rename Bombay was part of a larger movement to strengthen Marathi identity in the Maharashtra region. A resident of Mumbai is called mumbaikar in the Marathi language, the term has been in use for quite some time but it gained popularity after the official name change to Mumbai. Mumbai is built on what was once an archipelago of seven islands, Bombay Island, Parel, Mazagaon, Mahim, Colaba, Worli and it is not exactly known when these islands were first inhabited
3.
Ticker symbol
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A ticker symbol or stock symbol is an abbreviation used to uniquely identify publicly traded shares of a particular stock on a particular stock market. A stock symbol may consist of letters, numbers or a combination of both, ticker symbol refers to the symbols that were printed on the ticker tape of a ticker tape machine. Stock symbols are unique identifiers assigned to each security traded on a particular market, for example, AAPL is for Apple Inc. OODH is for Orion DHC, Inc. and HD is for Home Depot, a stock symbol can consist of letters, numbers, or a combination of both, and is a way to uniquely identify that stock. The symbols were kept as short as possible to reduce the number of characters that had to be printed on the ticker tape, the allocation of symbols and formatting convention is specific to each stock exchange. In the US, for example, stock tickers are typically between 1 and 4 letters and represent the name where possible. In Europe, most exchanges use three-letter codes, for example Dutch consumer goods company Unilever traded on the Amsterdam Euronext exchange has the symbol UNA, while in Asia, numbers are often used as stock tickers to avoid issues for international investors when using non-Latin scripts. For example, the bank HSBCs stock traded on the Hong Kong Stock Exchange has the ticker symbol 0005, symbols sometimes change to reflect mergers. Prior to the 1999 merger with Mobil Oil, Exxon used a spelling of the company XON as its ticker symbol. The symbol of the firm after the merger was XOM, symbols are sometimes reused, in the US the single-letter symbols are particularly sought after as vanity symbols. For example, since Mar 2008 Visa Inc. has used the symbol V that had previously used by Vivendi which had delisted. To fully qualify a stock, both the ticker and the exchange or country of listing needs to be known, on many systems both must be specified to uniquely identify the security. This is often done by appending the location or exchange code to the ticker, although stock tickers identify a security, they are exchange dependent, generally limited to stocks and can change. These limitations have led to the development of other codes in financial markets to identify securities for settlement purposes, the most prevalent of these is the International Securities Identifying Number. An ISIN uniquely identifies a security and its structure is defined in ISO6166, Securities for which ISINs are issued include bonds, commercial paper, stocks, and warrants. The ISIN identifies the security, not the exchange on which it trades, for instance, Daimler AG stock trades on twenty-two different stock exchanges worldwide, and is priced in five different currencies, it has the same ISIN on each, though not the same ticker symbol. ISIN cannot specify a particular trade in this case, and another identifier, following the introduction of the Sequence trading platform in 1996, EPICs were renamed Tradable Instrument Display Mnemonics, but they are still widely referred to as EPICs. Stocks can also be identified using their SEDOL number or their ISIN, in the United States, modern letter-only ticker symbols were developed by Standard & Poors to bring a national standard to investing
4.
National Stock Exchange of India
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The National Stock Exchange of India Limited is the leading stock exchange of India, located in Mumbai. NSE was established in 1992 as the first demutualized electronic exchange in the country. National Stock Exchange has a market capitalization of more than US$1.41 trillion. NSEs flagship index, the NIFTY50, the 51 stock index, is used extensively by investors in India, however, only about 4% of the Indian economy / GDP is actually derived from the stock exchanges in India. NSE was set up by a group of leading Indian financial institutions at the behest of the government of India to bring transparency to the Indian capital market. Based on the laid out by the government committee, NSE has been established with a diversified shareholding comprising domestic. The key domestic investors include Life Insurance Corporation of India, State Bank of India, IFCI Limited IDFC Limited and Stock Holding Corporation of India Limited. And the key global investors are Gagil FDI Limited, GS Strategic Investments Limited, SAIF II SE Investments Mauritius Limited, Aranda Investments Pte Limited, NSE offers trading, clearing and settlement services in equity, equity derivatives, debt and currency derivatives segments. It is the first exchange in India to introduce electronic trading facility thus connecting together the investor base of the entire country, NSE has 2500 VSATs and 3000 leased lines spread over more than 2000 cities across India. NSE commenced operations in the Wholesale Debt Market segment in June 1994, the capital market segment of the NSE commenced operations in November 1994, while operations in the derivatives segment commenced in June 2000. Of these only 7,800 companies are listed of which only 4000 trade on the stock exchanges at BSE and NSE. Hence the stocks trading at the BSE and NSE account for only around 4% of the Indian economy, NSE was mainly set up to bring in transparency in the markets. Instead of trading membership being confined to a group of brokers, NSE ensured that anyone who was qualified, experienced, in this context, NSE was ahead of its times when it separated ownership and management in the exchange under SEBIs supervision. The price information which could earlier be accessed only by a handful of people could now be seen by a client in a location with the same ease. The paper-based settlement was replaced by electronic depository-based accounts and settlement of trades was always done on time, one of the most critical changes was that a robust risk management system was set in place, so that settlement guarantees could protect investors against broker defaults. NSE was also instrumental in creating the National Securities Depository Limited which allows investors to hold and transfer their shares. It also allows investors to hold and trade in as few as one share or bond, the futures and options segment of NSE has made a global mark. In the Futures and Options segment, trading in NIFTY50 Index, NIFTY IT index, NIFTY Bank Index, NIFTY Next 50 index, trading in Mini Nifty Futures & Options and Long term Options on NIFTY50 are also available. The average daily turnover in the F&O Segment of the Exchange during the financial year April 2013 to March 2014 stood at ₹1.52236 trillion
5.
Bombay Stock Exchange
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The Bombay Stock Exchange is an Indian stock exchange located at Dalal Street, Kala Ghoda, Mumbai, Maharashtra, India. Established in 1875, the BSE is Asia’s first stock exchange and it claims to be the worlds fastest stock exchange, with a median trade speed of 6 microseconds. The BSE is the worlds 11th largest stock exchange with a market capitalization of $1.43 Trillion as of March,2016. More than 5500 companies are listed on the BSE. Unlike countries like the United States where 70% of the GDP is derived from larger companies and the corporate sector, of these, as of November 2016, there are only 7,800 listed companies of which only 4000 trade on the stock exchanges at BSE and NSE. Hence the stocks trading at the BSE and NSE account for only about 4% of the Indian economy, Bombay Stock Exchange founded by Premchand Roychand. He was one of the most influential businessmen in 19th-century Bombay, a man who made a fortune in the stockbroking business and came to be known as the Cotton King, the Bullion King or just the Big Bull. He was also the founder of the Native Share and Stock Brokers Association, the Bombay Stock Exchange is the oldest exchange in Asia. Its history dates back to 1855, when five stockbrokers would gather under banyan trees in front of Mumbais Town Hall, the location of these meetings changed many times to accommodate an increasing number of brokers. The group eventually moved to Dalal Street in 1874 and became an organization known as The Native Share & Stock Brokers Association in 1875. On August 31,1957, the BSE became the first stock exchange to be recognized by the Indian Government under the Securities Contracts Regulation Act, in 1980, the exchange moved to the Phiroze Jeejeebhoy Towers at Dalal Street, Fort area. In 1986, it developed the BSE SENSEX index, giving the BSE a means to measure the performance of the exchange. In 2000, the BSE used this index to open its derivatives market, the development of SENSEX options along with equity derivatives followed in 2001 and 2002, expanding the BSEs trading platform. Historically an open outcry floor trading exchange, the Bombay Stock Exchange switched to a trading system developed by CMC Ltd. in 1995. It took the exchange only 50 days to make this transition and this automated, screen-based trading platform called BSE On-Line Trading had a capacity of 8 million orders per day. The BSE has also introduced a centralized exchange-based internet trading system, the BSE is also a Partner Exchange of the United Nations Sustainable Stock Exchange initiative, joining in September 2012. Robert Owen was the first to start co operative society at year of 18441 March 2001 Corporatisation of Exchanges proposed by the Union Govt. e, date on which Corporatisaton and Demutualisation was achieved. BSEs normal trading sessions occur on all days of the week except weekends, the launch of SENSEX in 1986 was later followed up in January 1989 by the introduction of the BSE National Index
6.
London Stock Exchange
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The London Stock Exchange is a stock exchange located in the City of London in the United Kingdom. As of December 2014, the Exchange had a capitalisation of US$6.06 trillion. The Exchange was founded in 1801 and its current premises are situated in Paternoster Square close to St Pauls Cathedral in the City of London, the Exchange is part of the London Stock Exchange Group. London Stock Exchange is one of the world’s oldest stock exchanges, London Stock Exchange Group was created in October 2007 when London Stock Exchange merged with Milan Stock Exchange, Borsa Italiana. The Royal Exchange had been founded by English financier Thomas Gresham on the model of the Antwerp Bourse and it was opened by Elizabeth I of England in 1571. During the 17th century, stockbrokers were not allowed in the Royal Exchange due to their rude manners and they had to operate from other establishments in the vicinity, notably Jonathans Coffee-House. At that coffee house, a broker named John Casting started listing the prices of a few commodities, exchange rates and certain key provisions such as salt, coal, originally, this was not a daily list and was only published a few days of the week. This list and activity was moved to Garraway’s coffee house. Public auctions during this period were conducted for the duration that a length of tallow candle could burn, as stocks grew, with new companies joining to raise capital, the royal court also raised some monies. These are the earliest evidence of organised trading in securities in London. After Greshams Royal Exchange building was destroyed in the Great Fire of London, it was rebuilt and this was a move away from coffee houses and a step towards the modern model of stock exchange. The Royal Exchange not only housed brokers but also merchants and merchandise and this was the birth of a regulated stock market, which had teething problems in the shape of unlicensed brokers. In order to regulate these, Parliament brought out an act in 1697 that levied heavy penalties and it also set a fixed number of brokers, which was later increased as the size of the trade grew. The street in which they were now dealing was known as Exchange Alley, Parliament tried to regulate this and ban the unofficial traders from the Change streets. Traders became weary of bubbles when companies rose quickly and fell, after the Seven Years War, trade at Jonathans coffee house boomed again. In 1773, Jonathan, together with 150 other brokers, formed a club and opened a new and this now had a set entrance fee, through which traders could enter the stock room and trade securities. It was, however, not a location for trading. Fraud was also rife during these times and in order to such dealings
7.
BSE SENSEX
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The 30 component companies which are some of the largest and most actively traded stocks, are representative of various industrial sectors of the Indian economy. Published since 1 January 1986, the S&P BSE SENSEX is regarded as the pulse of the stock markets in India. The base value of the S&P BSE SENSEX is taken as 100 on 1 April 1979, on 25 July 2001 BSE launched DOLLEX-30, a dollar-linked version of S&P BSE SENSEX. As of 21 April 2011, the capitalisation of S&P BSE SENSEX was about ₹29,733 billion. During 2008-12, Sensex 30 Index share of BSE market capitalisation fell from 49% to 25% due to the rise of sectoral indices like BSE PSU, Bankex, BSE-Teck, the term Sensex was coined by Deepak Mohoni, a stock market analyst. It is a portmanteau of the words Sensitive and Index, the BSE has some reviews and modifies its composition to be sure it reflects current market conditions. The index is calculated based on a free float capitalisation method, instead of using a companys outstanding shares it uses its float, or shares that are readily available for trading. Free Floating capital implies total capitalization less Directors shareholding. As per free float capitalisation methodology, the level of index at any point of time reflects the free market value of 30 component stocks relative to a base period. The market capitalisation of a company is determined by multiplying the price of its stock by the number of shares issued by of corporate actions, the index has increased by over twenty five times from June 1990 to the present. Using information from April 1979 onwards, the rate of return on the S&P BSE SENSEX works out to be 18. 6% per annum. The following is a timeline on the rise of the SENSEX through Indian stock market history. 1000,25 July 1990 – On 25 July 1990, the SENSEX touched the figure for the first time and closed at 1,001 in the wake of a good monsoon. 3000,29 February 1992 – On 29 February 1992, the SENSEX surged past the 3,000 mark in the wake of the market-friendly Budget announced by Manmohan Singh. 4000,30 March 1992 – On 30 March 1992, the SENSEX crossed the 4,000 mark and it was then that the Harshad Mehta scam hit the markets and SENSEX witnessed unabated selling. 5000,11 October 1999 – On 11 October 1999, the SENSEX crossed the 5,000 mark, as the Bharatiya Janata Party-led coalition won the majority in the 13th Lok Sabha election. 6000,11 February 2000 – On 11 February 2000, the technology boom helped the SENSEX to cross the 6,000 mark. This record would stand for four years, until 2 January 2004. This helped the SENSEX crossed 7,000 points for the first time, however, it was on 9 December 2005 that the SENSEX first closed at over 9,000 points
8.
Bank of Calcutta
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The Bank of Calcutta was founded on 2 June 1806, mainly to fund General Wellesleys wars against Tipu Sultan and the Marathas. It was the first bank of India and was renamed Bank of Bengal on 2 January 1809, the bank opened branches at Rangoon, Patna, Mirzapur, and Benares. When it became known that the bank intended to open a branch at Dacca, references Sources 200 years and going strong. The Evolution of the State Bank of India
9.
Retail banking
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Retail banking, also known as consumer banking, is the provision of services by a bank to individual consumers, rather than to companies, corporations or other banks. Services offered include savings and transactional accounts, mortgages, personal loans, debit cards, the term is generally used to distinguish these banking services from investment banking, commercial banking or wholesale banking. It may also be used to refer to a division or department of a bank dealing with retail customers, in the U. S. the term commercial bank is used for a normal bank to distinguish it from an investment bank. This separation was repealed in the 1990s, commercial bank can also refer to a bank or a division of a bank that mostly deals with deposits and loans from corporations or large businesses, as opposed to individual members of the public. S. Private banks manage the assets of high-net-worth individuals, offshore banks are banks located in jurisdictions with low taxation and regulation. Many offshore banks are essentially private banks, postal savings banks are savings banks associated with national postal systems
10.
Investment banking
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Unlike commercial banks and retail banks, investment banks do not take deposits. From the passage of Glass–Steagall Act in 1933 until its repeal in 1999 by the Gramm–Leach–Bliley Act, Other industrialized countries, including G7 countries, have historically not maintained such a separation. As part of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010, the two main lines of business in investment banking are called the sell side and the buy side. The sell side involves trading securities for cash or for other securities, the buy side involves the provision of advice to institutions that buy investment services. Private equity funds, mutual funds, life insurance companies, unit trusts, an investment bank can also be split into private and public functions with a Chinese wall separating the two to prevent information from crossing. The private areas of the deal with private insider information that may not be publicly disclosed, while the public areas, such as stock analysis. The first company to publicly traded stock was the Dutch East India Company. Investment banking has changed over the years, beginning as a form focused on underwriting security issuance. In the United States, commercial banking and investment banking were separated by the Glass–Steagall Act, the repeal led to more universal banks offering an even greater range of services. Many large commercial banks have therefore developed investment banking divisions through acquisitions, notable large banks with significant investment banks include JPMorgan Chase, Bank of America, Credit Suisse, Deutsche Bank, UBS, Barclays, and Wells Fargo. The traditional service of underwriting security issues has declined as a percentage of revenue, as far back as 1960, 70% of Merrill Lynchs revenue was derived from transaction commissions while traditional investment banking services accounted for 5%. However, Merrill Lynch was a relatively retail-focused firm with a large brokerage network, investment banking is split into front office, middle office, and back office activities. Investment banks offer services to corporations issuing securities and investors buying securities. For corporations, investment bankers offer information on when and how to place their securities on the open market, therefore, investment bankers play a very important role in issuing new security offerings. Front office is described as a revenue generating role. Markets is divided into sales and trading, and research, a pitch book of financial information is generated to market the bank to a potential M&A client, if the pitch is successful, the bank arranges the deal for the client. The investment banking division is divided into industry coverage and product coverage groups. On behalf of the bank and its clients, an investment banks primary function is buying and selling products
11.
Mortgage loan
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The loan is secured on the borrowers property. Mortgage can also be described as a borrower giving consideration in the form of a collateral for a benefit, Mortgage borrowers can be individuals mortgaging their home or they can be businesses mortgaging commercial property. Features of mortgage loans such as the size of the loan, maturity of the loan, interest rate, method of paying off the loan, in many jurisdictions, it is normal for home purchases to be funded by a mortgage loan. Few individuals have enough savings or liquid funds to them to purchase property outright. In countries where the demand for ownership is highest, strong domestic markets for mortgages have developed. According to Anglo-American property law, a mortgage occurs when an owner pledges his or her interest as security or collateral for a loan. As with other types of loans, mortgages have an interest rate and are scheduled to amortize over a set period of time, typically 30 years. All types of property can be, and usually are, secured with a mortgage. Mortgage lending is the mechanism used in many countries to finance private ownership of residential and commercial property. Although the terminology and precise forms will differ from country to country, the components tend to be similar, Property. The exact form of ownership will vary from country to country, Mortgage, the security interest of the lender in the property, which may entail restrictions on the use or disposal of the property. Restrictions may include requirements to purchase insurance and mortgage insurance. Borrower, the person borrowing who either has or is creating an ownership interest in the property, lender, any lender, but usually a bank or other financial institution. Principal, the size of the loan, which may or may not include certain other costs, as any principal is repaid. Interest, a charge for use of the lenders money. Completion, legal completion of the deed, and hence the start of the mortgage. A closed mortgage account is said to be redeemed, many other specific characteristics are common to many markets, but the above are the essential features. Governments usually regulate many aspects of mortgage lending, either directly or indirectly, other aspects that define a specific mortgage market may be regional, historical, or driven by specific characteristics of the legal or financial system
12.
Private equity
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In finance, private equity is a type of equity and one of the asset classes consisting of equity securities and debt in operating companies that are not publicly traded on a stock exchange. A private equity investment will generally be made by an equity firm. Bloomberg Businessweek has called private equity a rebranding of leveraged-buyout firms after the 1980s, common investment strategies in private equity include, leveraged buyouts, venture capital, growth capital, distressed investments and mezzanine capital. In a typical leveraged-buyout transaction, a private-equity firm buys majority control of an existing or mature firm and this is distinct from a venture-capital or growth-capital investment, in which the investors invest in young, growing or emerging companies, and rarely obtain majority control. Private equity is often grouped into a broader category called private capital, generally used to describe capital supporting any long-term. The strategies private equity firms may use are as follows, leveraged buyout being the most important, the companies involved in these transactions are typically mature and generate operating cash flows. Leveraged buyouts involve a financial sponsor agreeing to an acquisition without itself committing all the capital required for the acquisition, to do this, the financial sponsor will raise acquisition debt which ultimately looks to the cash flows of the acquisition target to make interest and principal payments. Acquisition debt in an LBO is often non-recourse to the sponsor and has no claim on other investments managed by the financial sponsor. Historically the debt portion of a LBO will range from 60%–90% of the purchase price, between 2000–2005 debt averaged between 59. 4% and 67. 9% of total purchase price for LBOs in the United States. A private equity fund say for example, ABC Capital II, to this it adds $2bn of equity – money from its own partners and from limited partners. With this $11bn it buys all the shares of an underperforming company and it replaces the senior management in XYZ Industrial, and they set out to streamline it. The workforce is reduced, some assets are sold off, etc, the objective is to increase the value of the company for an early sale. The stock market is experiencing a market, and XYZ Industrial is sold two years after the buy-out for $13bn, yielding a profit of $2bn. The original loan can now be paid off with interest of say $0. 5bn, the remaining profit of $1. 5bn is shared among the partners. Taxation of such gains is at capital gains rates, notes, The lenders can insure against default by syndicating the loan to spread the risk, or by buying credit default swaps or selling collateralised debt obligations from/to other institutions. Often the loan/equity is not paid off after sale but left on the books of the company for it to pay off over time and this can be advantageous since the interest is typically offsettable against the profits of the company, thus reducing, or even eliminating, tax. Most buyout deals are much smaller, the average purchase in 2013 was $89m. The target company does not have to be floated on the stockmarket, buy-out operations can go wrong and in such cases the loss is increased by leverage, just as the profit is if all goes well
13.
Security (finance)
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A security is a tradable financial asset. The term commonly refers to any form of instrument. In some jurisdictions the term specifically excludes financial instruments other than equities, in some jurisdictions it includes some instruments that are close to equities and fixed income, e. g. equity warrants. In the United States, a security is a financial asset of any kind. Securities are broadly categorized into, debt securities equity securities derivatives, the company or other entity issuing the security is called the issuer. A countrys regulatory structure determines what qualifies as a security, for example, private investment pools may have some features of securities, but they may not be registered or regulated as such if they meet various restrictions. Securities may be represented by a certificate or, more typically, non-certificated, region or country Market capitalization State Securities are the traditional way that commercial enterprises raise new capital. These may be an alternative to bank loans depending on their pricing. Another disadvantage of bank loans as a source of financing is that the bank may seek a measure of protection against default by the borrower via extensive financial covenants, through securities, capital is provided by investors who purchase the securities upon their initial issuance. In a similar way, a government may issue securities too when it needs to increase government debt, investors in securities may be retail, i. e. members of the public investing other than by way of business. The greatest part of investment, in terms of volume, is wholesale, i. e. by financial institutions acting on their own account, important institutional investors include investment banks, insurance companies, pension funds and other managed funds. The traditional economic function of the purchase of securities is investment, debt securities generally offer a higher rate of interest than bank deposits, and equities may offer the prospect of capital growth. Equity investment may also control of the business of the issuer. Debt holdings may also offer some measure of control to the if the company is a fledgling start-up or an old giant undergoing restructuring. In these cases, if interest payments are missed, the creditors may take control of the company, the last decade has seen an enormous growth in the use of securities as collateral. Purchasing securities with borrowed money secured by other securities or cash itself is called buying on margin, where A is owed a debt or other obligation by B, A may require B to deliver property rights in securities to A, either at inception or only in default. Collateral arrangements are divided into two categories, namely security interests and outright collateral transfers. Commonly, commercial banks, investment banks, government agencies and other investors such as mutual funds are significant collateral takers as well as providers
14.
Asset management
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Asset management, broadly defined, refers to any system that monitors and maintains things of value to an entity or group. It may apply to both tangible assets such as buildings and to intangible assets such as capital, intellectual property. Asset management is a process of deploying, operating, maintaining, upgrading. The term is most commonly used in the world to describe people. These include, for example, investment managers that manage the assets of a pension fund, the most common usage of the term asset manager refers to investment management, the sector of the financial services industry that manages investment funds and segregated client accounts. An asset management is a part of a company which comprises experts who manage money. Operating and sustainment of assets in a constrained budget environment require a prioritization scheme, as a way of illustration, the recent development of renewable energy has seen the rise of effective asset managers involved in the management of solar systems. These teams are more and more teaming-up with financial asset managers in order to offer turn key solutions to investors. Software asset management is one kind of asset management. It is related to asset health management, infrastructure asset management expands on this theme in relation primarily to public sector, utilities, property and transport systems. An example in which public asset management is used is land-use development, an EAM requires an asset registry combined with a computerized maintenance management system. All public assets are interconnected and share proximity, possible through the use of information systems. A GIS platform combined with information of both the hard and soft assets helps to remove the traditional silos of structured municipal functions, the GIS platform is only an assisting tool, asset managers need to make informed decisions about their assets in order to fulfill their organizational goals. List of asset management firms P2P Asset Management Robo-advisor Baird, G, defining Public Asset Management for Municipal Water Utilities. Journal American Water Works Association May 2011,103,5,30, www. awwa. org
15.
Earnings before interest and taxes
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In accounting and finance, earnings before interest and taxes, is a measure of a firms profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses, when a firm does not have non-operating income, then operating income is sometimes used as a synonym for EBIT and operating profit. To calculate EBIT, expenses are subtracted from revenues, net income is later obtained by subtracting interest and taxes from the result
16.
Net income
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In business, net income is an entitys income minus cost of goods sold, expenses and taxes for an accounting period. In the context of the presentation of financial statements, the IFRS Foundation defines net income as synonymous with profit, net income is a distinct accounting concept from profit but the same as net profit. Net income can also be calculated by adding a companys operating income to non-operating income, net income can be distributed among holders of common stock as a dividend or held by the firm as an addition to retained earnings. As profit and earnings are used synonymously for income, net earnings, often, the term income is substituted for net income, yet this is not preferred due to the possible ambiguity. Net income is called the bottom line because it is typically found on the last line of a companys income statement. The items deducted will typically include tax expense, financing expense, likewise, preferred stock dividends will be subtracted too, though they are not an expense. For a merchandising company, subtracted costs may be the cost of goods sold, sales discounts, for a product company advertising, manufacturing, and design and development costs are included
17.
Asset
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In financial accounting, an asset is an economic resource. Anything tangible or intangible that can be owned or controlled to produce value, simply stated, assets represent value of ownership that can be converted into cash. The balance sheet of a firm records the value of the assets owned by that firm. It covers money and other valuables belonging to an individual or to a business, one can classify assets into two major asset classes, tangible assets and intangible assets. Tangible assets contain various subclasses, including current assets and fixed assets, current assets include inventory, while fixed assets include such items as buildings and equipment. Intangible assets are resources and rights that have a value to the firm because they give the firm some kind of advantage in the marketplace. Examples of intangible assets include goodwill, copyrights, trademarks, patents and computer programs, an asset is a resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity. One of the most widely accepted accounting definitions of asset is the one used by the International Accounting Standards Board, employees are not considered assets like machinery is, even though they can generate future economic benefits. This is because an entity does not have sufficient control over its employees to satisfy the Frameworks definition of an asset, similarly, in economics an asset is any form in which wealth can be held. The accounting equation is the structure of the balance sheet. It relates assets, liabilities, and owners equity, Assets = Liabilities + Capital Liabilities = Assets − Capital Equity = Assets − Liabilities Assets are listed on the balance sheet. On a companys balance sheet certain divisions are required by generally accepted accounting principles, Assets can be divided into e. g. current assets and fixed assets, often with further subdivisions such as cash, receivables and inventory. Assets are formally controlled and managed within larger organizations via the use of asset tracking tools and these monitor the purchasing, upgrading, servicing, licensing, disposal etc. of both physical and non-physical assets. Current assets are cash and other assets expected to be converted to cash or consumed either in a year or in the operating cycle and these assets are continually turned over in the course of a business during normal business activity. There are 5 major items included into current assets, Cash and cash equivalents – it is the most liquid asset, which includes currency, deposit accounts, short-term investments – include securities bought and held for sale in the near future to generate income on short-term price differences. Receivables – usually reported as net of allowance for non-collectable accounts, inventory – trading these assets is a normal business of a company. The inventory value reported on the sheet is usually the historical cost or fair market value. This is known as the lower of cost or market rule, prepaid expenses – these are expenses paid in cash and recorded as assets before they are used or consumed
18.
Equity (finance)
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In accounting, equity is the difference between the value of the assets and the value of the liabilities of something owed. Equity can be negative if liabilities exceeds assets, shareholders equity represents the equity of a company as divided among shareholders of common or preferred stock. Negative shareholders equity is often referred to as a shareholders deficit, alternatively, equity can also refer to the capital stock of a corporation. The value of the stock depends on the future economic prospects. For a company in liquidation proceedings, the equity is that which remains after all liabilities have been paid, when starting a business, the owners fund the business to finance various operations. Throughout the businesss existence, the equity of the business will be the difference between its assets and debt liabilities, this is the accounting equation, when a business liquidates during bankruptcy, the proceeds from the assets are used to reimburse creditors. The creditors are ranked by priority, with secured creditors being paid first, other creditors being paid next, owners equity is this remaining or residual claim against assets, which is paid only after all other creditors are paid. In such cases where even creditors could not get money to pay their bills. In financial accounting, owners equity consists of the net assets of an entity, net assets is the difference between the total assets and total liabilities. Equity appears on the sheet, one of the four primary financial statements. The assets of an entity can be tangible and intangible items. Intangible assets include such as brand names, copyrights or goodwill. Tangible assets include land, equipment, and cash, issue of new equity in which the firm obtains new capital increases the total shareholders equity. Share repurchases, in which a firm returns money to investors, reducing on the side its financial assets. For practical purposes, share repurchasing is similar to a dividend payment, rather than giving money to all shareholders immediately in the form of a dividend payment, a share repurchase reduces the number of shares outstanding. Dividends paid out to preferred stock owners are considered an expense to be subtracted from net income, sometimes assets bought and held in other countries get translated back into the reporting currency at different exchange rates, resulting in a changed value. When the owners are shareholders, the interest can be called shareholders equity, the remains the same. If all shareholders are in one and the class, they share equally in ownership equity from all perspectives
19.
Government of India
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It is located in New Delhi, the capital of India. There is a bicameral Parliament with the Lok Sabha as a lower house, the judicial branch systematically contains an apex Supreme Court,24 high courts, and several district courts, all inferior to the Supreme Court. Similar to the government, individual state governments each consist of executive, legislative. The legal system as applicable to the federal and individual state governments is based on the English Common, the full name of the country is the Republic of India. No other name appears in the Constitution, and this is the name appears on legal banknotes, in treaties. The Union Government, Central Government or Government of India are often used in an official and unofficial capacity to refer to the Government of India, because the seat of government is in New Delhi, New Delhi is commonly used as a metonym for the Central Government. Legislative branch in India is exercised by the Parliament and a legislature consisting of the Rajya Sabha. The latter is considered the house or the House of the people. The Parliament does not have control and sovereignty, as its laws are subject to judicial review by the Supreme Court of India. However, it does exercise some control over the executive branch, the members of the cabinet, including the prime minister and the Council of Ministers, are either chosen from parliament or elected there to within six months of assuming office. The cabinet as a whole is responsible to the Lok Sabha, the Lok Sabha is a temporary house and can only be dissolved when the party in power loses the support of the majority of the house. Whereas the Rajya Sabha is a permanent house which can never be dissolved though the members of the Rajya Sabha who are elected for a six-year term, the Executive Branch of government is the one that has sole authority and responsibility for the daily administration of the state bureaucracy. The division of power into separate branches of government is central to the idea of the separation of powers. The executive power is vested mainly in the President of India, the President has all constitutional powers and exercises them directly or through officers subordinate to him as per the aforesaid Article 53. The President is to act in accordance with aid and advice tendered by the Prime Minister, the Council of Ministers remains in power during the pleasure of the President. However, in practice, the Council of Ministers must retain the support of the Lok Sabha, if a President were to dismiss the Council of Ministers on his or her own initiative, it might trigger a constitutional crisis. Thus, in practice, the Council of Ministers cannot be dismissed as long as it holds the support of a majority in the Lok Sabha, the President is responsible for making a wide variety of appointments. His/Her work is to facilitate smooth transaction of business in Ministries/ Departments of the Government, the President is de jure the Commander in Chief of the Indian Armed Forces
20.
Indian subcontinent
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Geologically, the Indian subcontinent is related to the land mass that rifted from Gondwana and merged with the Eurasian plate nearly 55 million years ago. Geographically, it is the region in south-central Asia delineated by the Himalayas in the north, the Hindu Kush in the west. Politically, the Indian subcontinent usually includes Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, sometimes, the term South Asia is used interchangeably with Indian subcontinent. There is no consensus about which countries should be included in each and it is first attested in 1845 to refer to the North and South Americas, before they were regarded as separate continents. Its use to refer to the Indian subcontinent is seen from the twentieth century. It was especially convenient for referring to the region comprising both the British India and the states under British Paramountcy. The term Indian subcontinent also has a geological significance and it was, like the various continents, a part of the supercontinent of Gondwana. A series of tectonic splits caused formation of basins, each drifting in various directions. The geological region called the Greater India once included the Madagascar, Seychelles, Antartica, as a geological term, Indian subcontinent has meant that region formed from the collision of the Indian basin with Eurasia nearly 55 million years ago, towards the end of Paleocene. The Indian subcontinent has been a particularly common in the British Empire. The region, state Mittal and Thursby, has also labelled as India, Greater India. The BBC and some sources refer to the region as the Asian Subcontinent. Some academics refer to it as South Asian Subcontinent, the terms Indian subcontinent and South Asia are sometimes used interchangeably. There is no accepted definition on which countries are a part of South Asia or Indian subcontinent. In dictionary entries, the term subcontinent signifies a large, distinguishable subdivision of a continent, the region experienced high volcanic activity and plate subdivisions, creating Madagascar, Seychelles, Antartica, Austrolasia and the Indian subcontinent basin. The Indian subcontinent drifted northeastwards, colliding with the Eurasian plate nearly 55 million years ago and this geological region largely includes Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. The zone where the Eurasian and Indian subcontinent plates meet remains one of the active areas. The English term mainly continues to refer to the Indian subcontinent, physiographically, it is a peninsular region in south-central Asia delineated by the Himalayas in the north, the Hindu Kush in the west, and the Arakanese in the east
21.
Bank of Madras
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The Bank of Madras was one of the three Presidency Banks of British India, along with the Bank of Bengal and the Bank of Bombay. It was established on 1 July 1843 through the amalgamation of a number of existing regional banks and it was merged with the other Presidency banks in 1921 to form the Imperial Bank of India, which later became the State Bank of India. In 1683, Governor William Gyfford and his Council in Madras established a bank and it initially functioned from the Exchange Building—the building housing the present Fort Museum—within Fort St. George. The Bank of Madras was formed in 1843 as a joint stock company with a capital of ₹3 million by the amalgamation of Madras Bank, Carnatic Bank, the British Bank of Madras, and the Asiatic Bank. It also had a branch in Colombo, British Ceylon, now called Sri Lanka, the Bank of Madras undertook all the normal activities that are common to a commercial bank. The Bank of Madras, in the absence of any central banking authority during that time and it also issued banknotes in the Madras Presidency. The head office of the Bank of Madras was shifted to a new building, on South Beach Road, Madras, the building is an exquisite example of Victorian architecture. Currently, the building houses offices of State Bank of India. In 1955, the Reserve Bank of India, which is the banking organization of India. On 30 April 1955, the Imperial Bank of India became the State Bank of India, indian banking THE EVOLUTION OF THE STATE BANK OF INDIA, Volume 1 — The Roots 1806-1876 by Amiya Kumar Bagchi Bank of Madras
22.
Reserve Bank of India
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The Reserve Bank of India is Indias central banking institution, which controls the monetary policy of the Indian rupee. It commenced its operations on 1 April 1935 during the British Rule in accordance with the provisions of the Reserve Bank of India Act,1934, the original share capital was divided into shares of 100 each fully paid, which were initially owned entirely by private shareholders. Following Indias independence on 15 August 1947, the RBI was nationalised on 1 January 1949, the RBI plays an important part in the Development Strategy of the Government of India. It is a bank of the Asian Clearing Union. Each of these local boards consists of 5 members who represent regional interests, a Central Bank is known by different names in different countries. The functions of a Central Bank vary from country to country and are autonomous or quasi-autonomous body, the bank is also active in promoting financial inclusion policy and is a leading member of the Alliance for Financial Inclusion. The bank is referred to by the name Mint Street. The Reserve Bank of India was founded on 1 April 1935 to respond to economic troubles after the First World War, the Reserve Bank of India was conceptualized based on the guidelines presented by the Central Legislative Assembly passed these guidelines as the RBI Act 1934. RBI was conceptualized as per the guidelines, working style and outlook presented by Dr B R Ambedkar in his book and it was titled “The Problem of the Rupee – Its origin and its solution” and presented to the Hilton Young Commission. The bank was set up based on the recommendations of the 1926 Royal Commission on Indian Currency and Finance, the original choice for the seal of RBI was The East India Company Double Mohur, with the sketch of the Lion and Palm Tree. However, it was decided to replace the lion with the tiger, the Central Office of the RBI was established in Calcutta but was moved to Bombay in 1937. The RBI also acted as Burmas central bank, except during the years of the Japanese occupation of a, until April 1947, even though Burma seceded from the Indian Union in 1937. After the Partition of India in 1947, the served as the central bank for Pakistan until June 1948 when the State Bank of Pakistan commenced operations. Though set up as a bank, the RBI has been fully owned by the Government of India since its nationalization in 1949. In the 1950s, the Indian government, under its first Prime Minister Jawaharlal Nehru, the administration nationalized commercial banks and established, based on the Banking Companies Act of 1949, a central bank regulation as part of the RBI. Furthermore, the bank was ordered to support economic plan with loans. As a result of crashes, the RBI was requested to establish. Meant to restore the trust in the bank system, it was initialized on 7 December 1961
23.
Bank of Bengal
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The Bank of Calcutta was founded on 2 June 1806, mainly to fund General Wellesleys wars against Tipu Sultan and the Marathas. It was the first bank of India and was renamed Bank of Bengal on 2 January 1809, the bank opened branches at Rangoon, Patna, Mirzapur, and Benares. When it became known that the bank intended to open a branch at Dacca, references Sources 200 years and going strong. The Evolution of the State Bank of India
24.
Joint-stock company
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A joint-stock company is a business entity in which different stocks can be bought and owned by shareholders. Each shareholder owns company stock in proportion, evidenced by their shares and that allows for the unequal ownership of a business with some shareholders owning more of a company than others. Shareholders are able to transfer their shares to others without any effects to the existence of the company. In modern-day corporate law, the existence of a company is often synonymous with incorporation. Therefore, joint-stock companies are known as corporations or limited companies. Some jurisdictions still provide the possibility of registering joint-stock companies without limited liability, in the United Kingdom and other countries that have adopted its model of company law, they are known as unlimited companies. In the United States, they are simply as joint-stock companies. Ownership of stock refers to a number of privileges. The company is managed on behalf of the shareholders by a board of directors, the shareholders also vote to accept or reject an annual report and audited set of accounts. Individual shareholders can sometimes stand for directorships within the company if a vacancy occurs, the shareholders are usually liable for any of the company debts that extend beyond the companys ability to pay. Meanwhile, the limit of their liability extends only to the value of their shareholding. The concept of limited liability largely accounts for the success of this form of business organization, ordinary shares entitle the owner to a share in the companys net profit. It is calculated in the way, the net profit is divided by the total number of owned shares, producing a notional value per share. An individuals share of the profit is thus the dividend multiplied by the number of shares owned, finding the earliest joint-stock company is a matter of definition. The earliest records of joint stock company can be found in China during the Song Dynasty, the Swedish company Stora has documented a stock transfer for an eighth of the company as early as 1288. In more recent history, the earliest joint-stock company recognized in England was the Company of Merchant Adventurers to New Lands, muscovy Company, which had a monopoly on trade between Moscow and London, was chartered soon after in 1555. The Royal Charter effectively gave the newly created Honourable East India Company a 15-year monopoly on all trade in the East Indies. The Company transformed from a trading venture to one that ruled India and exploited its resources, as it acquired auxiliary governmental and military functions
25.
Royal charter
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A royal charter is a formal document issued by a monarch as letters patent, granting a right or power to an individual or a body corporate. They were, and are still, used to establish significant organisations such as cities or universities, Charters should be distinguished from warrants and letters of appointment, as they have perpetual effect. Typically, a Royal Charter is produced as a high-quality work of calligraphy on vellum, the British monarchy has issued over 980 royal charters. Of these about 750 remain in existence, the earliest was to the town of Tain in 1066, making it the oldest Royal Burgh in Scotland, followed by the University of Cambridge in 1231. Charters continue to be issued by the British Crown, a recent example being that awarded to the Chartered Institute for the Management of Sport and Physical Activity, Charters have been used in Europe since medieval times to create cities. The date that such a charter is granted is considered to be when a city is founded, at one time, a royal charter was the sole means by which an incorporated body could be formed, but other means are generally used nowadays instead. In the period before 1958,32 higher education institutes had been created by royal charter and these were typically engineering or technical institutions rather than universities. Royal decrees can therefore no longer grant higher education status or university status. A Royal Charter is granted by Order in Council, either creating an incorporated body and this is an exercise of the Royal Prerogative, and, in Canada, there are hundreds of organisations under Royal Charters. Such organisations include charities, businesses, colleges, universities, today, it is mostly charities and professional institutions who receive Royal Charters. Application for a charter is a petition to the Queen-in-Council, however, meeting these benchmarks does not guarantee the issuance of a Royal Charter. Companies, corporations, and societies in Canada founded under or augmented by a Royal Charter include, Royal Charter was issued in August 1826 to purchase and develop lands. Purchased the Crown Reserve of 1,384,413 acres, cities under Royal Charter are not subject to municipal Acts of Parliament applied generally to other municipalities, and instead are governed by legislation applicable to each city individually. The Royal Charter codifies the laws applied to the particular city, the Universitys Pontifical Charter was granted by Pope Leo XIII in 1889. Several Canadian private schools were founded or reconstituted under Royal Charter, the Royal Gibraltar Post Office was granted Royal Charter in 2005. The Royal Hong Kong Jockey Club obtained Royal Charter in 1959 and it is one of the three banknote-issuing banks in Hong Kong. The Royal Asiatic Society Hong Kong Branch Chartered originally in 1847, disbanded 1859, the Institution of Engineers was incorporated by royal charter in 1935. A number of Irish institutions retain the Royal prefix, even though Republic of Ireland severed all remaining connections between the state and the British monarch in 1949, the University of South Africa received a Royal Charter in 1877
26.
Central bank
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A central bank, reserve bank, or monetary authority is an institution that manages a states currency, money supply, and interest rates. Central banks also usually oversee the commercial banking system of their respective countries, Central banks in most developed nations are institutionally designed to be independent from political interference. Still, limited control by the executive and legislative bodies usually exists, prior to the 17th century most money was commodity money, typically gold or silver. However, promises to pay were widely circulated and accepted as value at least five hundred years earlier in both Europe and Asia. The Song dynasty was the first to issue generally circulating paper currency, in 1455, in an effort to control inflation, the succeeding Ming Dynasty ended the use of paper money and closed much of Chinese trade. The Bank of Amsterdam, established in the Dutch Republic in 1609, is considered to be the forerunner to modern central banks. The Wisselbanks innovations helped lay the foundations for the birth and development of the banking system that now plays a vital role in the worlds economy. Along with a number of local banks, it performed many functions of a central banking system. Lucien Gillard calls it the European guilder, and Adam Smith devotes many pages to explaining how the bank guilder works, the model of the Wisselbank as a state bank was adapted throughout Europe, including the Bank of Sweden and the Bank of England. Established by Dutch-Latvian Johan Palmstruch in 1668, Sveriges Riksbank is often considered by many as the worlds oldest central bank, the lenders would give the government cash and also issue notes against the government bonds, which could be lent again. A Royal Charter was granted on 27 July through the passage of the Tonnage Act 1694, the bank was given exclusive possession of the governments balances, and was the only limited-liability corporation allowed to issue banknotes. The £1. 2M was raised in 12 days, half of this was used to rebuild the Navy and these modern central banking functions evolved slowly through the 18th and 19th centuries. The currency crisis of 1797, caused by panicked depositors withdrawing from the Bank led to the government suspending convertibility of notes into specie payment. The bank was accused by the bullionists of causing the exchange rate to fall from over issuing banknotes. Nevertheless, it was clear that the Bank was being treated as an organ of the state, henry Thornton, a merchant banker and monetary theorist has been described as the father of the modern central bank. An opponent of the real bills doctrine, he was a defender of the bullionist position, thorntons process of monetary expansion anticipated the theories of Knut Wicksell regarding the cumulative process which restates the Quantity Theory in a theoretically coherent form. Until the mid-nineteenth century, commercial banks were able to issue their own banknotes, many consider the origins of the central bank to lie with the passage of the Bank Charter Act of 1844. Under this law, authorisation to issue new banknotes was restricted to the Bank of England, at the same time, the Bank of England was restricted to issue new banknotes only if they were 100% backed by gold or up to £14 million in government debt
27.
Princely state
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A princely state, also called native state or Indian state, was a nominally sovereign monarchy under a local or regional ruler in a subsidiary alliance with a greater power. At the time of the British withdrawal,565 princely states were recognised in the Indian subcontinent, apart from thousands of zamindaris. Rulers of salute states entitled to a gun salute of eleven guns and above received from the British the style of Highness, while the Nizam of Hyderabad had the unique style of Exalted Highness. At the other end of the scale, the principality of Lawa covered an area of 49 km2, or smaller than Bermuda. Some two hundred of the states had an area of less than 25 km2. The era of the princely states effectively ended with Indian independence in 1947, by 1950, almost all of the principalities had acceded to either India or Pakistan – thirteen to Pakistan and the rest to India. During this time, the princely states were merged into unions, each of which was headed by a former ruling prince with the title of Rajpramukh. In 1956, the position of Rajpramukh was abolished and the federations dissolved, the Indian Government formally derecognised the princely families in 1971, followed by the Government of Pakistan in 1972. The widespread expansion of Islam during this time brought many principalities into tributary relations with Islamic sultanates, notably the Delhi Sultanate, in the south, however, the Hindu Vijayanagara Empire remained dominant until the mid-17th century, among its tributaries was the future Mysore Kingdom. The Turco-Mongol Mughal Empire brought a majority of the existing Indian kingdoms and principalities under its suzerainty by the 17th century, beginning with its foundation in the early 16th century. The advent of Sikhism resulted in the creation of the Sikh Empire in the north by the early 18th century, at the same time, the Marathas carved out their own states to form the Maratha Empire. Through the 18th century, former Mughal governors formed their own independent states, India under the British Raj consisted of two types of territory, British India and the Native states or Princely states. In general the term British India had been used also to refer to the regions under the rule of the East India Company in India from 1774 to 1858, the term has also been used to refer to the British in India. More prestigious Hindu rulers often used the title Raja, Raje or a variant such as Rana, Rao, also in this class were several Thakurs or Thakores and a few particular titles, such as Sardar, Mankari, Deshmukh, Sar Desai, Raja Inamdar, Saranjamdar. The most prestigious Hindu rulers usually had the prefix maha in their titles, as in Maharaja, Maharana, Maharao, etc. The states of Travancore and Cochin had queens regnant styled Maharani, generally the female forms applied only to sisters, spouses and widows, there were also compound titles, such as rajadhiraj, Raj-i-rajgan, often relics from an elaborate system of hierarchical titles under the Mughal emperors. For example, the addition of the adjective Bahadur raised the status of the one level. Furthermore, most dynasties used a variety of titles, such as Varma in South India
28.
Gwalior State
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Gwalior State was an Indian kingdom and princely state during the British Raj. It was ruled In subsidiary alliance with the British by the Scindia dynasty of the Marathas and was entitled to a 21-gun salute. The state took its name from the old town of Gwalior, which, although never the capital, was an important place because of its strategic location. The state was founded in the early 18th century by Ranoji Sindhia, under Mahadji Sindhia Gwalior State became a leading power in northern India, and dominated the affairs of the confederacy. The Anglo-Maratha Wars brought Gwalior State under British suzerainty, so that it became a state of the British Indian Empire. Gwalior was the largest state in the Central India Agency, under the supervision of a Resident at Gwalior. In 1936, the Gwalior residency was separated from the Central India Agency, after Indian Independence in 1947, the Sindhia rulers acceded to the new Union of India, and Gwalior state was absorbed into the new Indian state of Madhya Bharat. The state had an area of 64,856 km2, and was composed of several detached portions. The northern section consisted of a block of territory with an area of 44,082 km2. The Malwa section, which included the city of Ujjain, had an area of 20,774 km2 and it was made up of several detached districts, between which portions of other states were interposed, and which were themselves intermingled in bewildering intricacy. In 1940 Gwalior State had 4,006,159 inhabitants, the predecessor state of Gwalior was founded in the 10th century. It was annexed by the Delhi Sultanate and was a part of it till 1398 and it again became a part of the Mughal empire from 1528 to 1731. The head of the received a patent of rank from the Mughal emperor Aurangzeb. Ranoji fixed his headquarters in the ancient city of Ujjain, which became the capital of the Sindhia dominion, and on 19 July 1745 he died near Shujalpur. He left three sons, Jayappa, Dattaji, and Jotiba, and two illegitimate, Tukaji and Mahadji. Jayappa succeeded to the territories of Ranoji, but was killed at Nagaur in 1759 and he was followed by his son Jankoji, who was taken prisoner at the Third Battle of Panipat in 1761 and put to death, and Mahadji succeeded. Madhavrao I, popularly known as Mahadji, and his successor Daulatrao took a part in shaping the history of India during their rule. Mahadji returned from the Deccan to Malwa in 1764, and by 1769 reestablished his power there, in 1772 Madhavrao Peshwa died, and in the struggles which ensued Mahadji took an important part, and seized every chance of increasing his power and augmenting his possessions
29.
Madho Rao Scindia
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Maharaja Sir Madho Rao Scindia of Gwalior GCSI GCVO GBE, was the 5th Maharaja of Gwalior belonging to the Scindian dynasty of the Marathas. Madho Rao acceded to the throne in 1886 and ruled to his death in 1925 and he was noted by the British Government as a progressive ruler of a princely state. He was twice married, but had issue by his second marriage in 1913, one son and one daughter, to whom King George V. He was succeeded by his son, Maharajdhiraja Maharaja Sir George Jivaji Rao Scindia. His daughter married, but died without an issue, in 1934, the Maharaja of Gwalior is also known as the rejected suitor of Gayatri Devis mother, the glamorous Princess Indira of Baroda, who broke off her engagement by letter. The Maharaja then married Gajararaje from the Rane family of Goa, later on Gajararajes sisters were married into the notable Sardar families of Gwalior which included the Angre, Shitole & the Mahadik Families. The Maharaja received a number of honours and decorations from the United Kingdom and he was appointed Honorary Aide-de-camp to King Edward VII in 1901, in recognition of his support during the Boxer Rebellion in China. In May the following year, he received the honorary degree LL. D. from the University of Cambridge. An interesting story is that Madho Rao the Maharajah of Gwailor helped to fund the completion of a set of mosaics in the Church of Ascension in Timoleague, County Cork, the mosaic was completed by Italian workmen in 1925, ten years after the doctors death. The mosaic, most likely designed by the Church of Ireland architect W. H. Hill, is a blend of the European, the series of stained glass windows include a Warrington over the altar, glass by Lavers, Westlake and also Mayer elsewhere
30.
Kerala
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Kerala historically known as Keralam, is an Indian state in South India on the Malabar Coast. It was formed on 1 November 1956 following the States Reorganisation Act by combining Malayalam-speaking regions, spread over 38,863 km2, it is bordered by Karnataka to the north and northeast, Tamil Nadu to the east and south, and the Lakshadweep Sea to the west. With 33,387,677 inhabitants as per the 2011 Census, Malayalam is the most widely spoken language and is also the official language of the state. The region has been a prominent spice exporter since 3000 BCE, the Chera Dynasty was the first prominent kingdom based in Kerala, though it frequently struggled against attacks by the neighbouring Cholas and Pandyas. In the 15th century, the spice trade attracted Portuguese traders to Kerala, after independence, Travancore and Cochin joined the Republic of India and Travancore-Cochin was given the status of a state in 1949. In 1956, Kerala state was formed by merging Malabar district, Travancore-Cochin, Hinduism is practised by more than half of the population, followed by Islam and Christianity. The culture is a synthesis of Aryan and Dravidian cultures, developed over millennia, under influences from other parts of India, the production of pepper and natural rubber contributes significantly to the total national output. In the agricultural sector, coconut, tea, coffee, cashew, the states coastline extends for 595 kilometres, and around 1.1 million people in the state are dependent on the fishery industry which contributes 3% to the states income. The state has the highest media exposure in India with newspapers publishing in nine languages, mainly English, Kerala is one of the prominent tourist destinations of India, with backwaters, beaches, Ayurvedic tourism and tropical greenery as its major attractions. The name Kerala has an uncertain etymology, One popular theory derives Kerala from Kera and alam is land, thus land of coconuts, this also happens to be a nickname for the state due to abundance of coconut trees and its use by the locals. The word Kerala is first recorded in a 3rd-century BCE rock inscription left by the Maurya emperor Ashoka, the inscription refers to the local ruler as Keralaputra, or son of Chera. This contradicts the theory that Kera is from coconut tree, at that time, one of three states in the region was called Cheralam in Classical Tamil, Chera and Kera are variants of the same word. The word Cheral refers to the oldest known dynasty of Kerala kings and is derived from the Proto-Tamil-Malayalam word for lake, the earliest Sanskrit text to mention Kerala is the Aitareya Aranyaka of the Rigveda. It is also mentioned in the Ramayana and the Mahabharata, the two Hindu epics, the Skanda Purana mentions the ecclesiastical office of the Thachudaya Kaimal who is referred to as Manikkam Keralar, synonymous with the deity of the Koodalmanikyam temple. Keralam may stem from the Classical Tamil cherive-alam or chera alam, the Greco-Roman trade map Periplus Maris Erythraei refers to Keralaputra as Celobotra. According to Hindu mythology, the lands of Kerala were recovered from the sea by the warrior sage Parasurama. Parasurama threw his axe across the sea, and the water receded as far as it reached, according to legend, this new area of land extended from Gokarna to Kanyakumari. The land which rose from sea was filled with salt and unsuitable for habitation, so Parasurama invoked the Snake King Vasuki, out of respect, Vasuki and all snakes were appointed as protectors and guardians of the land
31.
Arundhati Bhattacharya
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Arundhati Bhattacharya is an Indian banker and is currently the Chairman of the State Bank of India. She is the first woman to be the Chairperson of State Bank of India, in 2016, she was listed as the 25th most powerful woman in the world by Forbes. She studied in S. X. S Bokaro, Bhattacharya was born in a Bengali family in the city of Kolkata. She spent her childhood in Bhilai and her father, Prodyut Kumar Mukherjee worked at Bhilai Steel Plant. Her mother, Kalyani Mukherjee was a consultant in Bokaro. She completed her schooling from St. Xaviers School, Bokaro She studied English Literature at Calcutta’s Lady Brabourne College and her husband is an ex-professor of IIT Kharagpur. Bhattacharya joined SBI in September 1977 and she is the first woman to lead an India-based Fortune Global 500 company. Initially, she joined SBI in 1977 as probationary officer at the age of 22 years and she has held several positions during her 36-year career with the bank including working in foreign exchange, treasury, retail operations, human resources and investment banking. This included positions like the executive of the banks merchant banking arm- State Bank of India Capital Markets. She has also served at the banks New York office and she has been involved in the launch of several new businesses such as SBI General Insurance, SBI Custodial Services, SBI Pension Funds Pvt. Ltd. and the SBI Macquarie Infrastructure Fund. She succeeded Pratip Chaudhuri, as Chairperson, who retired 30 Sep.2013 She introduced a two-year sabbatical leave policy for the female employees to use either for maternity or elder care. On Womens day, she announced free vaccination against cervical cancer to all the female employees. In 2016, she was named the 25th most powerful woman in the world by Forbes and this is her first time being ranked on the list. In the same year, she was ranked among the FP Top 100 Global Thinkers by Foreign Policy magazine She was named the 4th most powerful women in Asia Pacific by Fortune, watch complete interview, The banker to the next generation, Arundhati Bhattacharya. Feministaa. com 7 Lesser Known Facts About Arundhati Bhattacharya That You Probably Didn’t Know. storypick. com Know how SBI chief Arundhati Bhattacharya changed Indias largest bank for the better
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Non-resident Indian and person of Indian origin
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A Person of Indian Origin is a person of Indian origin or ancestry but who is not a citizen of India and is the citizen of another country. A PIO might have been a citizen of India and subsequently taken the citizenship of another country, other terms with vaguely the same meaning are overseas Indian and expatriate Indian. In common usage, this often includes India-born individuals who have taken the citizenship of other countries, according to a survey conducted by the United Nations Department of Economic and Social Affairs, India has the largest diaspora population in the world. The rates of tax are different for persons who are resident in India. For the purposes of the Income Tax Act, residence in India requires stay in India of at least 182 days in a year or 365 days spread out over four consecutive years. According to the act, any Indian citizen who does not meet the criteria as a resident of India is a non-resident of India and is treated as NRI for paying income tax, the prohibited list periodically includes China and Iran as well. The government issues a PIO Card to a PIO after verification of his or her origin or ancestry, the spouse of a PIO can also be issued a PIO card though the spouse might not be a PIO. This latter category includes foreign spouses of Indian nationals, regardless of origin, so long as they were not born in, or ever nationals of. PIO Cards exempt holders from many restrictions that apply to nationals, such as visa and work permit requirements. Another major emigration from the subcontinent was to Southeast Asia, there is possibility that the first wave of Indians migration towards Southeast Asia happened when the Emperor Ashoka invasion towards Kalinga and Samudraguptas expedition towards the South. It followed by interaction of Indian traders and, after mid-first millennium CE. This resulted in the establishment of the so-called Indianised kingdoms in Southeast Asia, the Cholas, who were known for their naval power, conquered Sumatra and Malay Peninsula. The influence of Indian culture is strongly felt in Southeast Asia, for example with the royal Brahmins of Thailand. In such cases, it is not reasonable to apply the label PIO to the descendants of emigrants from several centuries back, intermixture has been so great as to negate the value of such nomenclature in this context. The modern Indian merchant diaspora in Central Asia and Arabia emerged in the mid-16th century, astrakhan at the mouth of the Volga was the first place in Tsardom of Russia where an Indian merchant colony was established as early as the 1610s. Russian chroniclers reported the presence of Hindu traders in Moscow and St Petersburg in the 18th century, multani people from Multan, Shikarpur, and Mawar of both Hindu and Muslim background acted as bankers and merchants in Safavid Persia. Hindu merchants in Hamadan were massacred by Ottomans as stated by an Armenian, with the Indian merchant community plummeting due to the Ottoma, in Kerman traders of Hindu background had a caravanserai. Traders of Indian background were mentioned by Jean Chardin, Jean de Thévenot, Adam Olearius and F. A. Kotov in Safavid era Persian where they lived along with Jews, traders from India of Sikh and Hindu background lived in Qajar era Persia and Zand era Persia
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Kolkata
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Kolkata /koʊlˈkɑːtɑː/ is the capital of the Indian state of West Bengal. In 2011, the city had a population of 4.5 million, while the population of the city and its suburbs was 14.1 million, making it the third-most populous metropolitan area in India. Recent estimates of Kolkata Metropolitan Areas economy have ranged from $60 to $150 billion making it third most-productive metropolitan area in India, after Mumbai, in the late 17th century, the three villages that predated Calcutta were ruled by the Nawab of Bengal under Mughal suzerainty. After the Nawab granted the East India Company a trading licence in 1690, Nawab Siraj ud-Daulah occupied Calcutta in 1756, and the East India Company retook it the following year. In 1793 the East India company was enough to abolish Nizamat. Calcutta was the centre for the Indian independence movement, it remains a hotbed of contemporary state politics, following Indian independence in 1947, Kolkata, which was once the centre of modern Indian education, science, culture, and politics, suffered several decades of economic stagnation. Many people from Kolkata—among them several Nobel laureates—have contributed to the arts, the sciences, Kolkata culture features idiosyncrasies that include distinctively close-knit neighbourhoods and freestyle intellectual exchanges. Though home to major cricketing venues and franchises, Kolkata differs from other Indian cities by giving importance to association football, there are several explanations about the etymology of this name, The term Kolikata is thought to be a variation of Kalikkhetrô, meaning Field of Kali. Similarly, it can be a variation of Kalikshetra, alternatively, the name may have been derived from the Bengali term kilkila, or flat area. The name may have its origin in the words khal meaning canal, followed by kaṭa, according to another theory, the area specialised in the production of quicklime or koli chun and coir or kata, hence, it was called Kolikata. The discovery and archaeological study of Chandraketugarh,35 kilometres north of Kolkata, Kolkatas recorded history began in 1690 with the arrival of the English East India Company, which was consolidating its trade business in Bengal. The area occupied by the city encompassed three villages, Kalikata, Gobindapur, and Sutanuti. Kalikata was a village, Sutanuti was a riverside weavers village. They were part of an estate belonging to the Mughal emperor and these rights were transferred to the East India Company in 1698. In 1712, the British completed the construction of Fort William, facing frequent skirmishes with French forces, the British began to upgrade their fortifications in 1756. The Nawab of Bengal, Siraj ud-Daulah, condemned the militarisation and his warning went unheeded, and the Nawab attacked, he captured Fort William which led to the killings of several East India company officials in the Black Hole of Calcutta. A force of Company soldiers and British troops led by Robert Clive recaptured the city the following year, declared a presidency city, Calcutta became the headquarters of the East India Company by 1772. In 1793, ruling power of the Nawabs were abolished and East India company took control of the city
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Pradhan Mantri Jan Dhan Yojana
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This financial inclusion campaign was launched by the Prime Minister of India Narendra Modi on 28 August 2014 He had announced this scheme on his first Independence Day speech on 15 August 2014. Run by Department of Financial Services, Ministry of Finance, on the day,1.5 Crore bank accounts were opened under this scheme. By 1 February 2017, over 27 crore bank accounts were opened and almost ₹665 billion were deposited under the scheme.5 crore households, in this email he categorically declared that a bank account for each household was a national priority. In next phase, micro insurance & pension etc. will also be added, under the scheme, Account holders will be provided bank accounts with no minimum balance. RuPay debit cards will be issued, accidental insurance cover of ₹1 lakh. After six months of opening of the account, holders will be eligible for ₹5,000 overdraft from the bank.5 Crore bank accounts were opened. The Prime Minister said on this occasion- Let us celebrate today as the day of financial freedom. It was reported that total of 7 Crore bank accounts have been opened with deposits totaling more than ₹50 billion as of 6 November 2014.5 crore to 10 crore by 26 January 2015. On 20 January 2015, the scheme entered into Guinness book of world records setting new record for The most bank accounts opened in one week, the number of accounts opened under the scheme reached 255 million by November 2016. The amount of rose to ₹380.47 billion by April 2016. 19 lakh householders have availed the overdraft facility of ₹2.56 billion by May 2016, as per the 26.11.2016 status total account deposits balance is Rs. The balance in Jan Dhan accounts rose by more than ₹270 billion between 9 November 2016 and 23 November 2016, the scheme has been criticized by opposition as an effort to please voters that has created unnecessary work-burden on the public-sector banks. It has been claimed that the poor deserves food more than bank accounts, further, these accounts have not yet added considerable profits to PSU banks. According to the experts, offers like zero balance, free insurance, many individuals who already have bank accounts may have had accounts created for themselves, lured by the insurance covers and overdraft facilities. As per the scheme, a few people are eligible to get the life insurance worth ₹30,000 with a validity of just five years. The claimed overdraft facility has been completely left upon the banks, as per the government notice, only those people would get the overdraft facility whose transaction record is satisfactory and financially. Make in India Indian 500 and 1000 rupee currency demonetisation Official Website
