Margins: Meaning of Life and Frazier Essay

In Ian Frazier’s essay, â€Å"In Praise of Margins†, the author talks about his childhood life and how he had â€Å"margins† where he and his friends would do things and nothing would matter because they wouldn’t care. â€Å"Marginal† thought is valuable because it allows adults to use their imagination. His purpose is to try new activities without shame; it’s the spur of the moment that defines margin. I think his view about marginal activity is comprehensive and relatable. When we think of margins, we think of the extra space on the edge of the paper that we can’t write out of. But marginal has another meaning to it which has to do with the economic world and how we function with margins in our life such as personal experiences. Marginal space is key to the coming of age process in each person’s life whether we share the same activities or not. Although it’s not easy to pin point it out but marginal spaces are needed to escape from everyone’s present problem in everyday life. I agree and believe with Frazier when he is talking about the meaning of marginal because it is true that margins sometimes do not come out the way you want it to be, nothing or nobody is perfect and there are always something ruining the perfect moment that we all have or want. Marginal act take such a high valued meaning according to Frazier because the places and activities that he discovered through his childhood is something that has been lost in the past and also in many societies, especially the economic society. According to Frazier, he added, â€Å"†¦the margin is where you can try out ideas that you might be afraid to admit to with people looking on. † (7) This is an important concept to anyone’s life. One person’s marginal space can different from another person’s as long as it is an activity in which the person escapes from reality. In an economic society, time is considered money and Frazier’s activity of sitting on a tree for hours is more on the lines of suicidal, in economic society’s terms. Frazier agreed that he felt useless at the time of just sitting but as he grew older, the useless time of gazing off turned into something sacred towards him. The sitting in the tree gave him memories and something to reflect back on. It came upon me when I took my nephews out to the ice rink at the Christmas in the Park; I realized if I never done this I would have missed out on what defined me as of today. Though it’s all fun and games I know that it’s one of the activities you can do once in a while that can take you away from your stress and busy day life-style. Reflection cannot happen when there is nothing to look back on. There are always memories that others have whether it be good or bad. It might be their first time driving or their first time swimming. Any memory is something someone can reflect back onto to see who they are and to see how they got to the place they are now. The economic society always keeps moving on and thinks about the future, while human beings need time to focus and reminisce from where they came from. If someone keeps running straight with their heads down, they might get far but eventually, they will get lost. In order to stay on track and know where you’re heading, at times the person needs to look back to see where they started from. Know where you are is the most important thing to knowing who you are and Frazier realized the great importance of that. Frazier’s useless â€Å"marginal† activity such as just plainly sitting brought out the importance of just doing things not to gain a profit but to gain something to reflect on. When Frazier was younger, he had his own marginal place and would always go out to â€Å"the woods†; it was his â€Å"part-time address, destination, purpose, and excuse† (1). While Frazier ran around bumping into bushes and branches, slipping and sliding through thick brown dirt; I was ice skating at the ice arena, hop-scotching, and playing house. Throughout my childhood, I dedicated numerous hours in the freezing cold ice arena at the local mall, hop-scotched afterschool with my neighbors, and played house on the weekends with my cousins. These activities may sound typical as a child but it had a significant meaning towards me. It was my purpose to grow upon these marginal experiences. In the end, all that matters is being able to free your mind from something that you free yourself from caring about what others think. And I believe that I accomplish my marginal activity as a child, through every fall and bruises that I received while ice skating, I couldn’t care less about what others had to say about me because I knew that every time I got up it’ll only make me a better skater in the end. Although changes occurred and I grew out of the marginal acts, agreeing with Frazier’s realization, â€Å"†¦and suddenly there was nothing up there for us. † (4) The excitement of skating on the slipping cold ice with no shame of failing can only be done as a marginal act, because I can no longer look at the rink the same way I did when I was younger. Nor can I play hop-scotch the way I did, hopping from one box to another is like going from one class to another today. Instead of playing house with my cousins, we became college students looking for a stable job that can support our education. I agree with Frazier that the â€Å"remember whens† really does faltered and â€Å"playing† time doesn’t have to end here. Although margins can be done differently and looked at differently, marginal is necessary for a person of all ages to let loose in order to overcome the pressure and stresses of everyday life. Frazier’s marginal activities consisted of breaking ice, climbing trees, and picking fruits. My marginal activities consisted of ice skating, hop-scotching, and playing house. Marginal activities may vary from being active in a sport, traveling, singing or perhaps even enjoying a movie night on the couch; by the end of the day marginal activities is necessary in order to free yourself from the strains of everyday life.

Training Report on Wholesale Banking Operation in Axis Bank.

REPORT ON SUMMER TRAINING OF Submitted to KCL-IMT (PTU) In partial fulfillment of the requirements for the award of degree of MASTER OF BUSINESS ADMINISTRATION Submitted by: Name of the student : KIRAN DOGRA Roll No: 1174251| Supervisor: Dr. SUKHMANI WARAICH Ass. prof. | DEPARTMENT OF MANAGEMENT KCL-IMT JALANDHAR BATCH-2011-2013 DECLARATIONI, â€Å"KIRAN DOGRA†, hereby declare that the work presented herein is genuine work done originally by me and has not been published or submitted elsewhere for the requirement of a MBA program me. Any literature, data or works done by others and cited within this research project has been given due acknowledgement and listed in the reference section. _______________________ (Student's name ; Signature) PREFACE Someone has rightly said that practical experience is for  better and closer to the real world then mere theoretical exposure. The practical experience helps the students view the real world closely, which in turn widely nfluences their  perceptions and argument their understanding of the real situation. Report work constitutes the backbone of any management education program me. A management student has to do report work quite frequently during his entire span. The report work entitle â€Å"WHOLESALE BANKING OPERATION OF AXIS BANK† aims to analyze various services and products provided by AXIS and for this purpose TANDA city have been chosen. CERTIFICATE This is to certify that the project work of Ms. KIRAN DOGRA on WHOLESALE BANKING OPERATION with AXIS BANK has been compiled under my supervision and guidance. _________________________ (Faculty Name ; Signature) ACKNOWLEDGEMENT I present this project report on â€Å"whole banking operations† IN AXISBANK LTD. , WARDHA with a sense of great pleasure and satisfaction. I undersign with pleasure take this opportunity to thank all those related directly or indirectly in preparation of this project report. I started working on this project under the invaluable guidance of Honorable Miss. Riddhi Deshpande mam for which I am very much thankful for her valued time given for the purpose. Without her co-operation our project work would have been difficult to complete.I express our sincere thanks to Mr. HITESH RAWAL, (Branch Manager) in Axis Bank Ltd. ,TANDA and staff in that organization. I am also thankful to Dr. INDERPREET SINGH sir [Director of our college] and Miss. sukhmani waraich [Project In charge] to allow us to carry out this project. I also thank all my friends who have more or less contributed to the preparation of this project report. I will be always indebted to them. INDEX S. No. | CHAPTERS| PAGE No. | 1. | CHAPTER – 1 (COMPANY PROFILE)| 8-22| 1. 1 | Introduction of axis bank| 8| 1. 2| History of axis bank| 9-13| 1. 3| Management of axis bank| 14-15| 1. | Definition of banking| 15| 1. 5| Meaning of banking| 15| 1. 6| Product of axis bank| 15-16| 1. 7| Customer services on banking operation| 16-17| 1. 8| Tradit ional banking activity | 17| 1. 9 | Accounting for bank account| 17-18| 1. 10| Economic function| 18-20| 1. 11| Types of investment ban| 20| 1. 12| Mortgage banking| 20-22| 1. 13| KYC (know your customer)| 22| 1. 14| Competitors | 22| | | | 2. | CHAPTER – 2| 23-26| | Need, Scope, Objectives, methodology and limitation of the study. | 23-26| | | | | | | 3. | Chapter – 3| 27-38| 3. 1| Project introduction| 27| 3. 2| Meaning of wholesale banking operation| 27-28| . 3| Concept | 28-34| 3. 4| Current account information| 34-35| 3. 4. 1| Channel one:(for successful business)| 34| 3. 4. 2| Builders and real estate| 35| 3. 5| Training in wholesale banking operation| 35-38| 3. 5. 1| Corporate| 35-36| 3. 5. 2| Small and medium enterprises| 36-37| 3. 5. 3| Government | 37-38| | | | 4. | Chapter – 4| 39-51| 4. 1| Data analysis| 39-51| | | | 5. | Chapter – 5| 52| 5. 1| Finding and suggestion| 52| 5. 2| Conclusion and recommendation| 52| | | | 6. | Chapter – 6| 53| | Bibliography| 54| | Appendices-Customer Feedback Form| 55-57| CHAPTER 1 1. COMPANY PROFILE 1. INTRODUCTION OF AXIS BANK Commercial banking services which includes merchant banking, direct finance infrastructure finance, venture capital fund, advisory, trusteeship, forex, treasury and other related financial services. Axis Bank Limited  is an Indian  financial services  firm that had begun operations in 1994, after the  Government of India  allowed new private banks to be established. The Bank was promoted jointly by the Administrator of the Specified Undertaking of the Unit Trust of India  (UTI),  Life Insurance Corporation of India  (LIC), General Insurance Corporation Ltd. , National Insurance Company Ltd.The New India Assurance Company,  The Oriental Insurance corporation  and  United India Insurance Company  UTI holds a special position in the Indian capital markets and has promoted many leading financial institutions in the country. As on the year ended 31 March, 2012, Axis Bank had an operating revenue of 13,437 crores and a net profit of 4242 crores. Axis Bank opened its registered office in Ahmedabad and corporate office in Mumbai in December 1993. The first branch was inaugurated in April 1994 in Ahmedabad by Dr. Manmohan Singh , then the honorable Finance Minister . 1. 2 HISTORY OF AXIS BANK 1993:The Bank was incorporated on 3rd December and Certificate of business on 14th December. The Bank transacts banking business of all description. UTI Bank Ltd. was promoted by Unit Trust of India, Life Insurance Corporation of India, General Insurance Corporation of India and its four subsidiaries. The bank was the first private sector bank to get a license under the new guidelines issued by the RBI. 1997: The Bank obtained license to act as Depository Participant with NSDL and applied for registration with SEBI to act as `Trustee to Debenture Holders'. Rupees 100 crores was contributed by UTI, the rest from LIC Rs 7. crores, GIC and its four subsidiaries Rs 1. 5 crores each. 1998: The Bank has 28 branches in urban and semi urban areas as on31st July. All the branches are fully computerized and networked through VSAT. ATM services are available in 27 branches. The Bank came out with a public issue of 1,50,00,000 No. of equity shares of Rs10 each at a premium of Rs 11 per share aggregating to Rs 31. 50crores and Offer for sale of 2,00,00,000 No. of equity shares for cash at a price of Rs 21 per share. Out of the public issue 2, 20,000 shares were reserved for allotment on preferential basis to employees of UTI Bank.Balance of 3, 47, 80,000 shares were offered to the public. The company offers ATM cards, using which account-holders can with draw money from any of the bank's ATMs across the country which is inter-connected by VSAT. UTI Bank has launched a new retail product with operational flexibility for its customers. UTI Bank will sign a co-brand agreement with the market, leader, Citibank NA for entering i nto the highly promising credit card business. UTI Bank promoted by India's pioneer mutual fund Unit Trust of India along with LIC, GIC and its four subsidiaries. 1999: UTI Bank and Citibank have launched an international co-branded Credit card.UTI Bank and Citibank have come together to launch an international co-branded credit card under the Master Card umbrella. UTI Bank Ltd has inaugurated an offsite ATM at Ashok Nagar here, taking the total number of its offsite ATMs. 2000: The Bank has announced the launch of Tele-Depository Services for Its depository clients. UTI Bank has launch of `I Connect', its Internet banking Product. UTI Bank has signed a memorandum of understanding with equitymaster. com for e-broking activities of the site. Infinity. com financial Securities Ltd. , an e-broking outfit is Typing up with UTI Bank for a banking interface.Geojit Securities Ltd, the first company to start online trading services, has signed a MoU with UTI Bank to enable investors to buys ell demat stocks through the company's website. India bulls have signed a memorandum of understanding with UTI Bank. UTI Bank has entered into an agreement with Stock Holding Corporation of India for providing loans against hares to SCHCIL's customers and funding investors in public and rights issues. ICRA has upgraded the rating UTI Bank's Rs 500 crores certificate of deposit programmed to A1+. UTI Bank has tied up with L&T Trade. com for providing customized online trading solution for brokers. 001: UTI Bank launched a private placement of non-convertible debentures to rise up to Rs 75 crores. UTI Bank has opened two offsite ATMs and one extension counter with an ATM in Mangalore, taking its total number of ATMs across the country to 355. UTI Bank has recorded 62 per cent rise in net profit for the quarter ended September 30, 2001, at Rs 30. 95 crores. For the second quarter ended September 30, 2000, the net profit was Rs 19. 08 crores. The total income of the bank during the quar ter was up 53 per cent at Rs 366. 25 crores. 2002: UTI Bank Ltd has informed BSE that Shri B R Barwale has resigned as a Director of the Bank w. . f. January 02, 2002. A C Shah, former chairman of Bank of Baroda, also retired from the bank’s board in the third quarter of last year. His place continues to be vacant. MD a modern took over as the director of the board after taking in there INS of UTI. B S Pandit has also joined the bank’s board subsequent to the retirement of K G Vassal. UTI Bank Ltd has informed that Shri Paul Fletcher has been appointed as an Additional Director Nominee of CDC Financial Service (Mauritius) Ltd of the Bank . And Shri Donald Peck has been appointed as an Additional Director (nominee of South Asia Regional Fund) of the Bank.UTI Bank Ltd has informed that on laying down the office of Chairman of LIC on being appointed as Chairman of SEBI, Shri G N Bajpai, Nominee Director of LIC has resigned as a Director of the Bank. 2003: UTI Bank Ltd has informed BSE that at the meeting of the Board of Directors of the company held on January 16, 2003, Shri R N Bharadwaj, Managing Director of LIC has been appointed as an Additional Director of the Bank with immediate effect. – UTI Bank, the private sector bank has opened a branch at Nellore. The bank’s Chairman and Managing Director, Dr P. J. Nayak, inaugurating the bank branch at GT Road on May 26.Speaking on the occasion, Dr Nayak said. This marks another step towards the extensive customer banking focus that we are providing across the country and reinforces our commitment to bring superior banking services, marked by convenience and closeness to customers. -UTI Bank Ltd. has informed the Exchange that at its meeting held on June 25, 2003 the BOD have decided the following: 1) To appoint Mr. A T Pannir Selvam, former CMD of Union Bank of India and Prof. Jayanth Varma of the Indian Institute of Management, Ahmadabad as additional directors of the Bank with immediate effect.Further, Mr. Pannir Selvam will be the nominee director of the Administrator of the specified undertaking of the Unit Trust of India (UTI-I) and Mr. Jayanth Varma will be an Independent Director. 2) To issue Non-Convertible Unsecured Redeemable Debentures up to Rs. 100 crores, in one or more tranches as the Bank's Tier – II capital. -UTI has been authorized to launch 16 ATM son the Western Railway Stations of Mumbai Division. -UTI filed suit against financial institutions IFCI Ltd in the debt recovery tribunal at Mumbai to recover Rs. 5cr in dues. -UTI bank made an entry to the Food Credit Programme; it has made an entry into the 59 cluster which includes private sector, public sector, old private sector and co-operative banks. -Shri Ajeet Prasad, Nominee of UTI has resigned as the director of the bank. -Banks Chairman and MD Dr. P. J. Nayak inaugurated a new branch at Nellore. -UTI bank allots shares under Employee Stock Option Scheme to its employees. -Unveils pre-p aid travel card ‘Visa Electron Travel Currency Card' -Allotment of 58923equity shares of Rs 10 each under ESOP. UTI Bank ties up with UK govt fund for contract farm in -Shri B S Pandit, nominee of the Administrator of the Specified Undertaking of the Unit Trust of India(UTI-I) has resigned as a director from the Bank w e f November 12,2003. -UTI Bank unveils new ATM in Sikkim. 2004: Comes out with Rs. 500 Unsecured Redeemable Non-Convertible Debenture Issue, issue fully subscribed -UTI Bank Ltd has informed that Shri Ajeet Prasad, Nominee of the Administrator of the Specified Undertaking of the Unit Trust of India (UTI – I) has been appointed as an Additional Director of the Bank w. e. f. January 20,2004. UTI Bank opens new branch in Udupi-UTI Bank, Geojit in pact for trading platform in Qatar -UTI Bank ties up with Shri ram Group Cos-Unveils premium payment facility through ATMs applicable to LIC UTI Bank customers –Metal junction (MJ)- the online trading and pr ocurement joint venture of Tata Steel and Steel Authority of India(SAIL)- has roped in UTI Bank to start off own equipment for Tata Steel. -DIEBOLD Systems Private Ltd, a wholly owned subsidiary of Diebold Incorporated, has secured a major contract for the supply of ATMs an services to UTI Bank -HSBC completes acquisition of 14. % stake in UTI Bank for . 6 m -UTI Bank installs ATM in Thiruvananthapuram –Launches Remittance Card' in association with Remit2India, a Web site offering money transfer services. 2005: * UTI Bank enters into a banc assurance partnership with Bajaj Allianz General for selling general insurance products through its branch network. * UTI Bank launches its first Satellite Retail Assets Centre (SRAC) in Karnataka at Mangalore. 2006: * UBL sets up branch in Jaipur. UTI Bank unveils priority banking lounge. * UTI Bank launches operations of UBL Sales, its Sales Subsidiary -Inaugurates its first office in Bangalore. * UTI Bank announces the launch of its Cre dit Card Business. * UTI Bank becomes the first Indian Bank to successfully issue Foreign Currency Hybrid Capital in the International Market. * UTI Bank Business Gold Debit Card MasterCard Launched – Designed for business related spending by SMEs and self employed professionals. 2007:AXIS Bank Ltd has informed that consequent upon handing over charge as Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI), Shri. S B Mathur, the Nominee Director of SUUTI has resigned as a Director of the Bank December 06, 2007. * AXIS Bank Ltd has informed that Fitch Ratings on December 14, 2007, has upgraded the Bank's National Long-term rating to ‘AAA(ind)' from ‘AA+(ind)'. * AXIS Bank Ltd has appointed Shri K N Prithvi raj as an Additional Director on the Board at Directors of the Bank. * Company name has been changed from UTI Bank Ltd to Axis Bank Ltd. 008: * Axis Bank launches Platinum Credit Card, India's first EMV chip based card. * Axis Bank set up its branch at Ilanji at Meenakshi Nagar on the Coutralam-Madurai road on April 16. 2009: * Axis Bank today said its board has recommended the appointment of Shikha Sharma, currently chief of ICICI group's life insurance business, as its next managing director and CEO. * Axis Bank has set up a new branch at Perumbavoor. The bank has a network of 832 branches along with 8 extension counters and 3622 ATMs across the country. Axis Bank, on Wednesday entered into a strategic alliance with Motilal Oswal, the financial services firm, in order to facilitate the online trading for the bank's customers. * AXIS Bank Ltd has informed that the Board of Directors of the Bank at its meeting held on June 01, 2009, inducted Smt. Shikha Sharma as an Additional Director of the Bank. * Axis bank has received final clearance from the Securities and Exchange Board of India (SEBI) to begin its mutual fund operations and will launch debt and equity schemes soon whereas IDBI Bank is awaiting the regulator' s permit for an entry. Axis Bank opened the new branch at Irinjalakuda while it has a network of 892 branches, 8 extension counters and 3,806 ATMs across the country. 2010: Axis Bank Limited has informed that at the meeting of the Board of Directors held on January 15, 2010, the following decisions were taken: * To appoint Dr. Adarsh Kishore, former Finance Secretary, Government of India and former Executive Director, International Monetary Fund representing Bangladesh, Bhutan, India and Sri Lanka as the Non-Executive Chairman of the Bank, subject to RBI approval; * To appoint Shri S.B. Mathur, former Chairman, LIC and the National Stock Exchange of India, as an Additional Independent Director, with immediate effect. 1. 3 MANAGEMENT OF AXIS BANK ORGANIZATION STRUCTURE OF AXIS BANK PROMOTERS: Axis Bank Ltd. has been promoted by the largest and the best Financial Institution of the country, UTI. The Bank was set up with a capital of Rs. 115 crores, with UTI contributing Rs. 100 Crores , LIC – Rs. 7. 5 Crores and GIC and its four subsidiaries contributing Rs. . 5 Crores each SUUTI – Shareholding 27. 02%Erstwhile Unit Trust of India was setup as a body corporate under the UTI Act, 1963, with a view to encourage savings and investment. In December 2002, the UTI Act, 1963 was repealed with the passage of Unit Trust of India (Transfer of Undertaking and Repeal) Act, 2002 by the Parliament, paving the way for the bifurcation of UTI into 2 entities, UTI-I and UTI-II with effect from1st February 2003. In accordance with the Act, the Undertaking specified as UTI I has been transferred and ested in the Administrator of the Specified Undertaking of the Unit Trust of India (SUUTI), who manages assured return schemes along with 6. 75% US-64 Bonds,6. 60% ARS Bonds with a Unit Capital of over Rs. 14167. 59 crores. The Government of India has currently appointed Shri K. N. Prithviraj as the Administrator of the Specified undertaking of UTI, to look after and admini ster the schemes under UTI where Government has continuing obligations and commitments to the investors, which it will uphold. 1. 4 DEFINITIONS OF BANKINGA bank is a financial institution licensed by a government. Its primary activity is to lend money. Many other financial activities were allowed over time. For example banks are important players in financial markets and offer financial services such as investment funds. Banking can also be defined as engaging in the business of keeping money for savings and checking accounts or for exchange or for issuing loans and credit. Transacting business with a bank: Depositing or withdrawing funds or requesting a loan.Bank – a supply or stock held in reserve for future use (especially in emergencies) 1. 5 MEANING OF BANKING An organization, usually a corporation, chartered by a state or federal government, which does most or all of the following: receives demand deposits and time deposits, honors instruments drawn on them, and pays in terest on them; discounts notes, makes loans, and invests in securities; collects checks, drafts, and notes; certifies depositor's checks; and issues drafts and cashier's checks. 1. 6 PRODUCT OF AXIS BANK * Product of axis bank * Easy Access Saving Account Saving Account for Women * Prime Saving Account * Senior Citizens Saving Account * Priority Banking * Corporate Salary Account * Trust /NGOs Saving Account * Resident Foreign Currency Account * Online Trading Account * Current Account * Term Deposits * Locker Facilities * NRI Services * Depository Services * Financial Advisory Services * Wealth Management Services * Insurance Solutions – Life and General * Retail Loans * Credit Loans * Travel Currency Cards * Remittance Cards * Gift Cards 1. 7 CUSTOMER SERVICE IN BANKING OPERATION * Cheque Drop Box FacilityRBI's Committee on Procedures and Performance Audit on Public Services has recommended that both the drop box facility and the facility for acknowledgement of the cheques at the regular collection counters should be available to customers and no branch should refuse to give an acknowledgement if the customer tenders the cheques at the counters. * Issue of Cheque Books: The Committee has observed that some banks do not allow depositors to collect their cheque book at the branch but insist on dispatching the cheque book by courier to the depositor.Further, it is stated by the Committee that the deposit or is forced to sign a declaration that a dispatch by the courier is at the depositor's risk and consequence and that the depositor shall not hold the bank liable in any manner whatsoever in respect of such dispatch of cheque book. Committee has observed this as an unfair practice and advised banks to refrain from obtaining such undertakings from depositors. Banks should also ensure that cheque books are delivered over the counters on request to the depositors or his authorized representative. Statement of Accounts / Pass Books: The Committee has noted that banks invariably show the entries in depositor’s passbooks /statement of accounts as â€Å"By Clearing† or â€Å"By Cheque†. Further, in the case of Electronic Clearing System (ECS) and RBI Electronic Funds Transfer (RBIEFTR) banks invariably do not provide any details even though brief particulars of the remittance are provided to the receiving bank. In some cases computerized entries use sophisticated codes which just cannot be deciphered.With a view to avoiding inconvenience to depositors, banks are advised to avoid such inscrutable entries in passbooks statements of account and ensure that brief, intelligible particulars are invariably entered in passbooks / statements of account. Banks may also ensure that they adhere to the monthly periodicity prescribed by us while sending statement of accounts. 1. 8 TRADITIONAL BANKING ACTIVITIES Banks act as payment agents by conducting checking or current accounts for customers, paying cheques drawn by customers o n the bank, and collecting cheques deposited to customers' current accounts.Banks also enable customer payments via other payment methods such as telegraphic transfer, EFTPOS, and ATM. Banks borrow money by accepting funds deposited on current accounts, by accepting term deposits, and by issuing debt securities such as bank notes and bonds. Banks lend money by making advances to customers on current accounts, by making installment loans, and by investing in marketable debt securities and other forms of money lending. Banks provide almost all payment services, and a bank account is considered indispensable by most businesses, individuals and governments.Non-banks that provide payment services such as remittance companies are not normally considered an adequate substitute for having a bank account. Banks borrow most funds from households and non-financial businesses, and lend most funds to households and non-financial businesses, but non-bank lenders provide a significant and in many cases adequate substitute for bank loans, and money market funds, cash management trusts and other non-bank financial institutions in many cases provide an adequate substitute to banks. 1. 9 ACCOUNTING FOR BANK ACCOUNTBank statements are accounting records produced by banks under the various accounting standards of the world. Under GAAP and IFRS there are two kinds of accounts: debit and credit. Credit accounts are Revenue, Equity and Liabilities. Debit Accounts are Assets and Expenses. This means you credit a credit account to increase its balance, and you debit a debit account to increase its balance. This also means you debit your savings account every time you deposit money into it (and the account is normally in deficit), while you credit your credit card account every time you spend money from it (and the account is normally in credit).However, if you read your bank statement, it will say the opposite—that you credit your account when you deposit money, and you debit it when you withdraw funds. If you have cash in your account, you have a positive (or credit) balance; if you are overdrawn, you have a negative (or deficit) balance. There a son for this is that the bank, and not you, has produced the bank statement. Your savings might be your assets, but the bank's liability, so they are credit accounts (which should have a positive balance).Conversely, your loans are your liabilities but the bank's assets, so they are debit accounts (which should have a also have a positive balance). Where bank transactions, balances, credits and debits are discussed below, they are done so from the viewpoint of the accountholder—which is traditionally what most people are used to seeing. 1. 10 ECONIMIC FUNCTION * Issue of money: In the form of bank note sand current accounts subject to cheque or payment at the customer's order. These claim son banks can act as money because they are negotiable and/or repayable on demand, and hence valued at par.They are eff ectively transferable by mere delivery, in the case of banknotes, or by drawing a cheque that the payee may bank or cash. * Netting and settlement of payments: Banks act as both collection and paying agents for customers, participating in interbank clearing and settlement systems to collect, present, be presented with, and pay payment instruments. This enables banks to economies on reserves held for settlement of payments, since inward and outward payments offset each other. It also enables the offsetting of payment flows between geographical areas, reducing the cost of settlement between them. * Credit intermediation:Banks borrow and lend back-to-back on their own account as middle men. * Credit quality improvement: Banks lend money to ordinary commercial and personal borrowers (ordinary credit quality), but are high quality borrowers. The improvement comes from diversification of the bank's assets and capital which provides a buffer to absorb losses without defaulting on its oblig ations. However, banknotes and deposits are generally unsecured; if the bank gets into difficulty and pledges assets as security, to raise the funding it needs to continue to operate, this puts the note holders and depositors in an economically subordinated position. Maturity Transformation: Banks borrow more on demand debt and short term debt, but provide more long term loans. In other words, they borrow short and lend long. With a stronger credit quality than most other borrowers, banks can do this by aggregating issues (e. g. accepting deposits and issuing banknotes) and redemptions (e. g. withdrawals and redemptions of banknotes), maintaining reserves of cash, investing in marketable securities that can be readily converted to cash if needed, and raising replacement funding as needed from various sources (e. g. wholesale cash markets and securities markets). Banking channels: Banks offer many different channels to access their banking and other services: * A branch, banking cent re or financial centre is a retail location where a bank or financial institution offers a wide array of face-to-face service to its customers. * ATM is a computerized telecommunications device that provides a financial institution's customers a method of financial transactions in a public space without the need for a human clerk or bank teller. Most banks now have more ATMs than branches, and ATMs are providing a wider range of services to a wider range of users.For example in Hong Kong, most ATMs enable anyone to deposit cash to any customer of the bank's account by feeding in the notes and entering the account number to be credited. Also, most ATMs enable card holders from other banks to get their account balance and withdraw cash, even if the card is issued by a foreign bank. * Mail is part of the postal system which itself is a system where in written documents typically enclosed in envelopes, and also small packages containing other matter, are delivered to destinations around the world. This can be used to deposit cheques and to send orders to the bank to pay money to third parties.Banks also normally use mail to deliver periodic account statements to customers. * Telephone banking is a service provided by a financial institution which allows its customers to perform transactions over the telephone. This normally includes bill payments for bills from major billers (e. g. for electricity). * Online banking is a term used for performing transactions, payments etc. over the Internet through a bank, credit union or building society's secure website. * Mobile banking is a method of using one's mobile phone to conduct simple banking transactions by remotely linking into a banking network. Video banking is a term used for performing banking transactions or professional banking consultations via a remote video and audio connection. Video banking can be performed via purpose built banking transaction machines (similar to an Automated teller machine), or via a vi deoconference enabled bank branch. 1. 11 TYPES OF INVESTMENT BANKS * Investment banks â€Å"underwrite† (guarantee the sale of) stock and bond issues, trade for their own accounts, make markets, and advise corporations on capital market activities such as mergers and acquisitions. * Merchant banks were traditionally banks which engaged in trade finance.The modern definition, however, refers to banks which provide capital to firms in the form of shares rather than loans. Unlike venture capital firms, they tend not to invest in new companies. 1. 12 MORTGAGE BANKING Mortgage banking deals primarily with originating mortgage loans and servicing them. Read more about it here as well as about what a career in mortgage banking involves. Mortgage banking is meant for a single purpose, to service the real estate finance industry. Mortgage banking deals specifically with originating mortgage loans as well as servicing them.Mortgage banks are state-licensed entities from which consumers can get mortgage loans directly. Usually, mortgage banks avail funds from the Federal National Mortgage Association, or FNMA, also known as Fannie Mae, the Federal Home Loan Mortgage Corporation, or FHLMC, also known as Freddie Mac, or any other large companies that service mortgages, which are related to the secondary mortgage market. Here are a few pointers about the nitty-gritty of mortgage banking. * Mortgage Banks Specialize in Mortgage Loans: Unlike a savings bank that is federally chartered, in general mortgage banks specialize in only providing mortgage loans.Hence, customers do not deposit their money in these banks. As has been mentioned above, the secondary wholesale market is their primary source of funds. Freddie Mac and Fannie Mae are examples of the lenders in the secondary market. * Mortgage Banks Differ in Size: While some mortgage banks can be nationwide, others can originate a volume of loan that can exceed that of a commercial bank that is nationwide. Many of th ese mortgage banks utilize specialty servicers like Real Time Resolutions to carry out tasks like fraud detection work and repurchase. Mortgage Banks have Two Sources of Revenue: The two main sources of income are from loan servicing fees (if they are into loansevicing0, and fees from loan origination. Mortgage bankers, by and large, are choosing not to service the loans they have originated. That is because they are entitled to earn a service-released premium by selling them soon after the mortgage loans are closed and funded. The investor in the secondary market that purchases the loan has the ability of earning revenue for providing servicing of the loan every month the borrower keeps the loan. Different Banking Laws Apply to Mortgage Banks: Mortgage banks usually operate under banking laws that are quite different, according to the state they operate in. You will need to check each individual state’s financial department or state banking in order to get list of mortgage b ankers in each state. While federal laws apply to the operation of a federal bank, in terms of consumer protection, usually consumers have additional rights, which are applicable according to each state. * Mortgage Bankers can be More Competitive:Since they only specialize in lending and do not have to subsidize any of the losses that other departments may have incurred, as in regular banking, mortgage bankers have the ability of being really competitive when lending for mortgage. However, they usually do not have the advantage of accessing adjustable rate mortgages that are low cost, which federal banks are typically associated with, and federal money access. * A Career in Mortgage Banking: Professionals in mortgage banking in the job market today need to have a college degree in business or finance, or some specific experience or training related to the field.Skills in good customer service, an inherent ability with numbers, and computer skills are also essential requirements for mortgage banking jobs. A mortgage banking professional’s job involves reviewing credit scores, determining the kind of loan that is most beneficial for the customer and guiding them through the process of application as well as closing. The loan officer has to be very organized and detail oriented, and need to be able to handle the large amounts of paperwork and reporting that are required for getting loans approved, up to the closing.A mortgage banking professional also has to have thorough know-how about the regulations associated with federal mortgage as well as the various types. 1. 13 KYC (KNOW YOUR CUSTOMER) As per KYC guideline the RBI has advised banks to follow KYC guidelines of RBI mandates banks to collect three proofs from their customers they are1 Photograph2 Proof of Identity3 Proof of address Accordingly, Axis bank has framed its KYC procedure according to which, a photograph and documentary proof of personal identification and address proof are required t be p rovided.The account Opening form provides the nature of documents required / procedure to be followed for opening a new account. You may also log in to our websitewww. axisbank. com for such information which is displayed product-wise. 1. 14 COMPETITORS 1. ICICI Bank Ltd. 2. HDFC Bank Ltd. 3. State Bank of India 4. HSBC Bank 5. RBS (Royal Bank of Scotland) 6. Maharashtra Bank of India 7. Canara Bank 8. Andhra Bank 9. IDBI bank 10. Bank of India 11. Punjab National Bank 12. Central Bank 13. Allahabad Bank 14.ING Vysya 15. Centurion Bank CHAPTER 2 2. NEED, SCOPE, OBJECTIVE, METHODOLOGY AND LIMITATIONS OF THE STUDY 2. 1 NEED OF RESEARCH The research is significant for me and the bank thus significant as follow to the trainee as follow: – * To the trainee †¢The research has provided the trainee practical knowledge regarding the organization working, survey and other aspect of marketing. †¢This research is also essential for me in fulfillment of MBA curriculum. * To the bank Research would help the bank to get the lead of potential customer and current satisfaction level among existing relationship companies †¢To study the opportunity of cross sailing of other product and services †¢The suggestion provide the researcher will be helpful to improvement of class and quality of service to new and current customers and also help to enhance the activities * To the customer †¢The research will become a medium to convey the dissatisfaction factor to the appropriate person in the management 2. 2 SCOPE OF RESEARCHThe research was conducted for AXIS bank limited in Hoshiarpur City. The research was conducted in operational and marketing aspect of the bank products and survey. The research collected to detail information by personal interview and data collection sheet. 2. 3 OBJECTIVES OF THE STUDY This study has been conducted with a variety of important objectives in mind. The following provides us with the  objectives that have tried to achi eve through the study. The extent to which these objectives have been met could judge from the conclusions and suggestions, which appear in the later of this study. The main objective of the study is to know about the potential of the market regarding people’s dealing in financial services. †¢ To know the role of all financial services. †¢ To know where people have already opened their Account and on what basis. 2. 4 RESEARCH METHODOLOGY Research is an art of scientific investigation. In other word research is a scientific and systematic search for pertinent information on specific topic. The logic behind taking research methodology into consideration is that one can have knowledge about the method and procedure adopted for achievement of objectives of the project.With the adoption of  this others can evaluate the results also. Its main aim is to keep the researchers on the right track. The methodology adopted for studying the objectives was surveying the saving a ccount holders of District HOSHIARPUR. So keeping in view the nature of requirements of the study to collect all the relevant information regarding the comparison of saving account of Centurion Bank of Punjab with other  banks direct personal interview method with structured questionnaire was adopted for the collection of primary data. Secondary data has been collected through the various magazines and newspaper a nd by surfing on internet.And the guide in the organization was consulted at many times. 2. 5 SELECTION OF THE SAMPLE It becomes impossible to contact each and every individual of the population due to limitations of essential resources like time and money. Therefore, the study is preferably allowed down to a representation sample to make the study more manageable. Keeping in view the objectives and resource limitation of the study, 100 respondents were considered. Respondents – 100 The selected sample is representative of the population and is accurate and practi cable. 2. 6 SAMPLING TECHNIQUETo study the Project, a Simple Random Sampling technique is used. 2. 7 SAMPLING PLAN The following factors will be taken into consideration within scope of sampling plan. 1 Sampling unit: It defines the target population that will be sampled i. e. it answers who is to be surveyed. In this study, the sampling unit is customers using internet banking. 1 Sampling size: It indicates the numbers of people to be surveyed. Though large samples give more reliable results than small sample but due to constraints of time and money, the sample size was restricted to 50 respondents. 2. 8 COLLECTION OF DATAAfter the research problem has been defined and the research design has been chalked out, the task of data collection begins. The data can be collected mainly through primary sources, but it was supplement with secondary data. * Primary data collection: Primary data is the data which is collected through observation or direct communication with the respondents in one form or another. These are several methods for primary data collection like Observation Method, Interview Method, through schedules, through questionnaires and so on. * Secondary data collection methods: Secondary data is collected through Internet. Internet We also take into consideration the internet facility with which we  collect lot  of  latest information. * Journal and publications of different banks We also take into consideration the journals and publications issued by the bank  at different times. We  comes to know about the Branches, ATM, locations and other useful information. 2. 9 LIMITATION OF RESEARCH Every research has its own constraints which keep limitation to work similarly this research has also limitation due to which the researcher could not get detailed information regarding project. These are: – Though full efforts have been made but due to the lack of past experience in the marketing field I failed some areas have been left from includi ng in the study †¢ Due to the limitation of time I was unable to cover more sample (data collection sheet) and to fridge the lead granted. CHAPTER 3 PROJECT INTRODUCTION 3. 1 PROJECT INTRODUCTION As a part of curriculum the students of MBA have to undergo Summer Internship Program (SIP). Wherein a student gets the knowledge about practical life, how the work is done in companies, how to get acquainted with working conditions and other many such things, etc. he main aim behind this program is that students get some experience with which he could get assistance while searching the job. This program is generally provided by a company and it lasts for at least two months. Students as per their specializations could apply for SIP and get the opportunity to work in a company, which the college suggests. As a management student I also have to undergo SIP. I got the opportunity to complete this program in AXIS BANK LTD. , for two months. Axis bank is one of the leading BANKS in banking sector in India. First of the two months was devoted to training.Our training started with the session of information about bank product and sale sand – what is the meaning of the concepts, importance of sales and marketing was taught. The second part was about open an account-why we open an account in bank, about the banking sector- as avenue for investment, how banking sector is Better Avenue for investment. The next session was about detailed knowledge about banking sector-how to sell these products in market. The last session was about the practical knowledge about how to get appointment of customers and how to convince them to take the product.In the second month we have sell the products directly in the market, procedure of selling the products etc. 3. 2 MEANING OF WHOLESALE BANKING OPERATIONS The Wholesale Banking contains products sold to large and middle market commercial companies, as well as to consumers on a whole sale basis. This includes lending, treasury manag ement, mutual funds, asset-based lending, commercial real estate, corporate and institutional trust services, and investment banking through Wells Fargo Securities. The company also owns Baring ton Associates, a middle market investment bank.Wells Fargo historically has avoided large corporate loans as stand-alone products, instead requiring that borrowers purchase other products along with loans which the bank sees as a loss leader. One area that is very profitable to Wells, however, is asset-based lending: lending to large companies using assets as collateral that are not normally used in other loans. This can be compared to subprime lending, but on a corporate level. The main brand name for this activity is â€Å"Wells Fargo Foothill,† and is regularly marketed into mb stone ads in the Wall Street Journal.Wells Fargo also owns East dil Secured, which is described as a â€Å"real estate investment bank† but is essentially one of the largest commercial real estate bro kers for very large transactions (such as the purchase and sale of large Class-A office buildings in central business districts throughout the United States). The wholesale banking operations consist of the following transactions: 1. Opening of Account 2. Issue of Check book 3. International Debit / Credit Card 4. Issue of Demand Draft (DD) 5. Net banking 6. E-mail statement 7. Phone banking 8. Insta Query 9. Insta Alert 10. Bill pay 11. Passbook 12.Quarterly Account Statement 13. Loan Facility. 3. 3 CONCEPT 3. 3. 1 SAVING ACCOUNT INFORMATION Definition: A deposit account at a bank or savings and loan which pays interest, but cannot be withdrawn by check writing. Types of Saving Account In Axis Banking 1. Zero Balance Savings Account At Axis Bank it has been constant endeavor to create products specifically catering to your needs. The account while offering a whole range of services also addresses your latent need of having an account without the hassle of maintaining an average qua rterly balance. Features: – 1. No Average Quarterly Balance requirement 2.Free International Debit Card with an Accidental Insurance cover up to Rs 2 lakhs* (charges for the primary holder are waived). 3. Free mobile banking facility 4. Access through more than 825 branches and more than 3595 ATMs 5. At-Par cheque facility with the clearing limit of Rs 50,000 6. 24Ãâ€"7 Tele banking & Internet banking. 7. Free quarterly statements8. Free monthly e-statement Conditions Apply:- 1. Initial funding of Rs. 5,500. 2. Account maintenance fee of Rs. 500 per annum 2. Krishi Savings Account (Kheti Ho Khushahali ki) Axis Bank offers a unique savings account which is easy to operate and allows you to transact immediately.This product has been specially designed keeping in mind the unique requirements of a farmer and true to its nature has been called the Krishi Savings Account. Some of the features of our new product are: Average Balance Requirement : This account is offered with the re quirement of maintaining the half-yearly average balance of Rs 1000only. International Master Debit Card: The Krishi Savings Account entitles you to an International Master Debit Card with which you can access your account anytime through the Axis Bank ATM network free of cost. This card comes with a cash withdrawal limit of Rs 25,000 per day.Free Accident Insurance cover of Rs 2 lacks. Anywhere Banking: Being a Krishi account holder, you are entitled to access our wide network of more than 825 branches and 3595 ATMs across 440 cities. You can now easily carry out your transactions through any of the branches or ATMs. At Par Cheque Book: Your Krishi Savings Account comes with the At-Par Cheque facility. This facility enables you to en cash the cheques as local instruments at any of the 440 centers where the Bank has its presence, at no extra cost. Moreover, you can also issue cheques at other centers upto the limit of Rs 50,000. Easy Access Savings Account (Banking made easy) * A â €“ Accessibility * C – Convenience * C – Comfort * E – Earnings * S – Speed * S – Service Want a savings account that transcends geographical boundaries? Presenting, Axis Bank's Easy Access Savings Account. The account is an endeavor by the Bank to understand the consumers' needs and redefine banking to suit your requirements for a truly comfortable banking experience. Easy Access Savings Account gives you instant access to your money anywhere, anytime. Possessing a range of unmatched features, it has been devised to better suit the convenience of our eclectic client base.You can avail of all these services with a minimum quarterly average balance of Rs. 5,000 in metro or urban centers, Rs. 2,500 in semi urban centers and Rs. 1,000in rural centers. †¢At-par cheque †¢ATM Network †¢Anywhere Banking †¢ Tele banking †¢ i Connect †¢Mobile Banking †¢Quarterly account statement †¢Quarterly interest @ 3. 5 % per annum †¢Free monthly e-statement. You can avail of all these services with a minimum quarterly average balance of Rs. 5,000 in metro or urban centers, Rs. 2,500 in semi urban centers and Rs. 1,000 in rural centers. Corporate Salary Account:Our Corporate Salary Power Offering is designed to offer pay roll solutions through in a 24 X 7 environment. We leverage on our extensive network of distribution channels spread across 450 centers through a network of more than 827 branches and 3595 ATMs besides our superior service delivery model and product features, as a strong differentiator, to provide value to the end user. Benefit to Employers: †¢Efficient salary disbursal. Web Upload – Transfer salaries/reimbursements directly from your current account with Axis Bank to your employee's accounts using I Connect from your office. Single-instruction salary credit – Same day salary credits for all companies having Corporate Account with Axis Bank. Dedicated relationship manager at metro locations to understand the financial requirements of your employees. Benefit to Employees: †¢No minimum balance criteria. †¢Unparalleled Access – Anywhere banking facility through our network of Branches, ATM and Internet banking facility. †¢AT Par cheque books payable locally at all Axis Bank locations. †¢International Debit cum ATM cards with enhanced Cash withdrawal facility and other value add ones. Online Banking with funds transfer, online shopping and bill payment options. †¢Depository services with free online trading accounts. †¢Meal Cards on a master card platform. †¢Employee Reimbursement accounts as a savings account variant. Preferential pricing on loan products and credit cards and other banking products ; services. 3. Prime Savings Account: Want a customized savings account to suit your specific financial requirements? At Axis Bank, we have always strived to pace our products with the growing needs of our cu stomers.The Prime Savings account has therefore been created with your specific financial requirements in mind. Through the ‘At Par' cheque facility, you have the unique advantage to en cash your cheques as a local cheque at more than 330 centers where the bank has a presence at no extra cost. In addition the account enables you to issue cheques up to Rs. 1 lakhs, which will be treated as ‘At Par' across these locations. You can avail of all these services with a minimum average balance of Rs 25,000 in metro/urban/semi-urban centers and Rs 10,000 in rural centers. 4.Smart Privilege Account: (For the woman of today) In today's busy world it's tough being a working woman. Right from shuttling between a job and family to taking care of her finances she has to be on her toes all the time. Keeping this in mind, we at Axis Bank have designed a savings account best suited for the woman of today. With the Smart Privilege Account, you can manage your money and your life and as we ll as enjoy a host of lifestyle privileges. Furthermore Axis Bank's Smart Privilege Account ensures that you have enough time for all the important things in life. Senior Privilege: (Because life begins at sixty) Are you seeking a banking style that compliments your senior status? Axis Bank's Senior Citizen Savings Account has been designed keeping in mind the fact that a senior citizen's banking requirements are wholly different and require special consideration. * Special Privilege: (A Privilege assures the care you deserve): We have introduced Senior Citizen ID card for our Senior Privilege patrons. Let us briefly introduce the wide range of advantages it hold for you. * Avail of Great benefits with Senior Citizen ID cardID card acts as an age proof. Enabling you to redeem every advantage that you are eligible for, this card will soon help you avail of certain never-before Senior-citizen benefits at various stores, service providers and installation across the nation. * Feel safe Every where Apart from provide you with the power to claim great benefits, card also act as emergency information medium. In case of emergencies, it provides the doctors and authorities with vital data like your blood group, allergies, illnesses, address and emergency contact details.This ensures that you are well looked after in any situation, no matter where you are. * Always a Privilege It will help in strengthen the bond with us and to be of assistance to you at all the times, no matter what your need be. Whether its loan, a savings account or any financial services that you wish to avail of, we will make sure that we're always be there by your side. * Power Salute (Salute to the defense forces) Are you looking for an account that fits with your life in the Defence Forces? Defense Salary Account from Axis Bank is a product designed keeping in mind how tough a life in the Defense Forces is.Not only does it come to you absolutely free, no minimum balance is required either. You c an also access the entire Axis Bank network, including more than 2300 ATMs and 550 branch offices (and growing) no matter where you are posted. With the complete gamut of banking services (including overdrafts, loans and zero-balance requirements) you can now rest assured about your family and all their financial needs. It sour way of showing our appreciation to your work. * Banking Privileges: At-par Cheque Facility * Your job involves constant transfers across the country.With the at-par cheque facility it will no longer be necessary to set up new bank accounts with each transfer. * Additional Debit Card * Along with a free International Debit Card, you also get a free card for the joint account holder. This means that your child or spouse also enjoy the same benefits of banking with Axis Bank. * Financial Advisory Services * Our solutions answer to the twin goals of meeting your requirements and to diversify and spread the risk of your investment portfolio, so you can look forwar d to a comfortable and worry-free life.We first understand your exact investment needs and then design the perfect investment plan for you. 5. Trust/NGO Savings Account: Thoughtful banking for people who spend their lives thinking of others Need special banking for special causes? Axis Banks Trust Account is an effort to offer thoughtful banking for people who spend their lives thinking of others. It is a complete banking solution for Trusts, Associations, Societies, Government Bodies, Section 25 companies and NGOs, so that the organizations can devote all of their time to their noble motivations. Features:- A savings account for your trust with a concessional average quarterly Balance a multi-city at-par cheque facility with no limit on clearing payments at centers across the country wherever we are present. Free anywhere banking across all our Branches and Extension Counters and over all our ATMs. Free Demand Drafts or Pay Orders as and when required by you to remit funds. Free co llection of cheques at outstations locations free monthly e-statement Monthly Statement of Account delivered at your doorstep.Facility for collecting donations in your account through our network of Branches and extension counters across the country, as well as through I Connect – our Internet Banking facility. Also, Axis Bank can offer the facility to donate funds to your Trust through our Internet Banking facility I Connect to its customers. An Axis Bank customer can donate any amount to your Trust through the Internet. In such cases, the savings account of the customer gets debited and the savings account of your Trust gets credited with the amount of donation at the same time.At the end of every month, the Bank will provide an MIS giving details of the amount of donations and the name of donor. This will enable the Trust to issue receipts to the donors. Free Internet Banking facility that enables you to view the status of your account, transfer funds and carry out a numbe r of banking activities from the comfort of your home or office. * Investment Advice * Our Financial Advisory Desk will provide portfolio management advice as well as help you undertake investments. * Free Demat To facilitate your investments, we offer a free Demat Account (charges due to NSDL must still be levied) to our esteemed account holders in the Trust or Society segment. * Foreign Contribution (Regulation) Act [FCRA] accounts * The FCRA account enables approved organizations to receive foreign contributions for utilization in their activities in India. The Bank will provide assistance in the process of documentation and obtaining necessary approvals from Ministry of Home Affairs at New Delhi. 3. 4 CURRENT ACCOUNT INFORMATION 3. 4. 1 CHANNEL ONE: (FOR SUCCESSFUL BUSINESSES)The ‘Channel One’ Current Account is an effort in that direction where we take care of your day to day banking requirements leaving you with more time for your business. Channel One Current Acc ount is most appropriate choice of successful businesses. At a monthly Average Balance (MAB ) of Rs. 10 lack. FEATURES: 1. Relationship Manager. 2. Doorstep Banking. 3. Anywhere Banking. 4. Free Internet Banking. 5. Free 24 hour Tele banking. 6. Mobile Banking Service. 7. International debit card. 8. Cheque Protection Facility. 9. Free 24 – hour cheque deposited facility. 10. Payment of Government Taxes/ Dues. 11. Foreign exchange services. . 4. 2 BUILDERS AND REAL ESTATE: Axis Bank understands the increasing demands on businesses in this segment . Here’s presenting the Axis Bank Builder ; Real Estate Current Account a current account with unparalleled product features built to suit Builders ; Realtors exclusively. This account offers you unmatched convenience while adding financial value to your businesses spread over geographies. . At a monthly Average Balance (MAB) of Rs. 5 Lacks this account comes loaded with special facilities and benefits, most appropriate for yo ur business. FEATURES: 1. Home Branch Cash Deposit. 2. Non – Home Branch Cash Withdrawal. . Free Anywhere Banking. 4. Cluster facility. 5. Zero Balance account for Vendors and Suppliers. 6. Franking Facility. 7. Customer cheque printing. 8. Internet Banking. 9. Free 24-hour Phone banking. 10. Mobile Alerts. 11. ATM cum Debit Card. 12. Free Monthly Account Statement. 3. 5 TRAINING IN WHOLESALE BANKING OPERATION 3. 5. 1 CORPORATES Corporate Banking reflects Axis Bank's strengths in providing our corporate clients in India, a wide array of commercial, transactional and electronic banking products. We achieve this through innovative product development and a well-integrated approach to relationship management. Funded Services: Working Capital Finance, Bill Discounting, Export Credit, Short Term Finance, Structured Finance, Term Lending. * Non Funded Services: Letter of Credit, Collection of Documents, Bank Guarantees. * Value Added Services: Syndication Services, Real Time Gross Settlement, Cash Management Services, Corporate Salary Accounts, Reimbursement Account, Bankers to Right/Public Issue, Forex Desk, Money Market Desk, Derivatives Desk, Employees Trusts, Cash Surplus Corporate, Tax Collection * Internet Banking: Supply Chain Management, Corporate Internet Banking, Payment Gateway Services. 3. . 2 SMALL AND MEDIUM ENTERPRISES: At Axis Bank we understand how much of hard work goes into establishing a successful SME. We also understand that your business is anything but â€Å"small† and as demanding as ever. And as your business expands and enters new territories and markets, you need to keep pace with the growing requests that come in, which may lead to purchasing new, or updating existing plant and equipment, or employing new staff to cope with the demand. That's why we at Axis Bank have assembled products, services, resources and expert advice to help ensure that your business excels.Solutions are designed to meet your varying needs. The follo wing links will help you identify your individual needs. * Funded Services: Funded Services from Axis Bank are meant to directly bolster the day-to-day working of a small and a medium business enterprise. From working capital finance to credit substitutes; from export credit to construction equipment loan – we cater to virtually every business requirement of an SME. Click on the services below that best define your needs * Non-Funded Services: Under Non-Funded services Axis Bank offers solutions that act as a catalyst to propel your business.Imagine a situation where you have a letter of credit and need finance against the same or you have a tender and you need to equip yourself with a guarantee in order to go ahead. This is exactly where we can help you so that you don't face any roadblocks when it comes to your business. The following are the services that will precisely tell you what we can do Business Accounts, Letters of Credit, Collection of Documents, Axis Bank Trade, Guarantees, Cash Management Services, Money Market Desk, Derivatives Desk, Services to Cash Surplus Corporate, Services to Employee Trusts, Bankers to Rights/Public Issue, Tax Collection. Specialized Services: Axis Bank is one of the most trusted entities when it comes to specialized services like selling of precious metals to customers. Under specialized services you can also avail customized control of your value chain through our internet banking platform. * Value Added Services: There is a plethora of services that we offer under value added services. There's corporate salary account which ensures smooth payment methods to your staff. You can avail an assortment of credit cards and debit cards from our merchant services. The following are the highlights of this service:Real Time Gross Settlement, Reimbursement Account, Custody Services, Corporate Salary Accounts, Merchant Services, Axis Bank Gold Business Credit Card. * Internet Banking: Internet banking is a revolutionary servi ce under the banking sector and Axis Bank is a forerunner in providing you with this service. We provide state-of-the-art payment gateway services to industries and companies in order to ease transaction processing. This in turn enhances the credibility of your business and makes banking extremely cost-efficient. 3. 5. 3 GOVERNMENT SECTOR:Axis Bank acts as an active medium between the government and the customers by means of various services. These services include : * Tax Collection Where in customers can directly pay their taxes like Direct taxes, Indirect taxes and Sales Tax collections at their local Axis Bank * E-Ticketing Helps the customer by providing him a direct access to book a Railway Ticket online and get it home delivered * Opening of L/C's is done by the bank on behalf of Government of India, Mints and Presses, thus facilitating imports for the Government. * Collection of levies and taxes on behalf of Municipal Corporations i. . Kalyan -Dombivli Municipal Corporation, is undertaken by the Bank. * Collection of stamp duty is done via franking mode in the states of Maharashtra & Gujarat. The Stamp Duty Franking Facility is available at following branches in Maharashtra Fort, Chembur, Lower Parel, Mira Road, Thane (Talao Pali), Panvel, Ratnagiri, Pune (FC Road), Kolhapur, Nagpur, Pimpri. The Stamp Duty Franking Facility is available at following branches in Gujarat Ahmedabad (Navrangpura), Kutch (Mundra), Baroda (Gotri Road), Surat (Ring Road), Bhavnagar & Vapi (GIDC). Disbursement of Pension to retired Employees of Central Govt and Defence is directly done by Axis Bank along with the disbursement of pension to the members of EPFO (Employees Provident Fund Organization) * Electronic Collection of fees on behalf of DGFT is done by the bank too * Ministry of Corporate Affairs Collection of ROC fees for the Ministry through authorized Branches and Net Banking. * Collection of Property Tax through Selected Branches on behalf of Municipal Corporation of Delhi CHAPTER 4 DATA ANALYSIS & INTERPRETATION 4. 1 Analysis of QuestionnaireThe study was conducted and primary data was collected through questionnaire method. For this purpose, 100 respondents of the TANDA city were approached of 100% in the branch has been shown below: Q1 Customer having accou

Decision Analysis Task

Decision Analysis has been established to advance theory, application, and teaching of all aspects of decision-making methods. . When It comes to beginning to make decisions for any business, almost everyone can feel uncertainty and fear. The more Information given, then the most likely the decisions made are the right ones. TLS Includes being able to trade off the values of certain outcomes against Its probability. Data shows the truest form of the Information given. The knowledge changes from data to information, from information to facts, and lastly from facts to knowledge.The entire decision making process is done under uncertainty and immeasurable variables. Values and numbers become much easier for people to use and understand. Once the numbers and circumstances are in place, the true analysis can begin. Using the work cell method, the company can have the following advantages: (1) reduced work in progress inventory, (2) less floor space use, (3) reduced raw material and finish ed goods inventory, (4) reduced labor costs, (5) more employee participation, (6) increased equipment and machinery use, and (7) reduced investment in machinery and equipment.I have chosen this decision analysis tool by imputing the performance times for each task given of A through H and the sequence requirements into an assembly line balancing tool to perform an analysis to determine the proper number of stations and the most efficient workflow possible. The analysis tool calculated that the number of workstations needed was 5. Total station task time needed was 10 minutes and the time needed per cycle was 46 minutes. These calculations gave this process an efficiency of 100. 00%. This decision tool was selected to help achieve a higher efficiency of production and a possible deduction in production floor space. A properly balanced line will increase throughput and lower production costs.Hopefully, by recommending this tool, the company will be able to eliminate significant errors that can result in false assumptions, inaccurate estimations of probabilities, too much relying on expectations, wrong measuring in functions, and/or forecasting errors. B. 1. The impact of costs on the decision to move forward with the new Maim Sandal line is as follows: As the production continues, the hours needed for each batch, or individual pair, will begin to decrease. By continuing to produce this line the total labor costs will continue to decrease, but most likely, at a slower rate as more sandals are produced. This data can help the company decide employment levels, capacity, costs, and their pricing of this particular merchandise in the open market.

Family Friendly Workplace Essay Example | Topics and Well Written Essays - 1250 words

Family Friendly Workplace - Essay Example On the other hand in stage two, this is where there is a more supportive culture, widened perception of work and family, and a well-planned or coordinated set of reactions. Finally, in the last stage, is where companies or workplace organizations start to encounter the status quo and putting their attention towards forming a real family-friendly culture and neighboring community (Poelmans, & Caligiuri, 2008). Once an organization has put into practice one program or policy, the initial anxieties is unnecessary but instead, the firm has the prospective of widen its programs and carry on with the same for over a long period of time. The following figure illustrates the evolution and advancement work/family programs based on the research conducted by Family and Work Institute. The prospect of many business organizations or varied work places based on the quality of life for the employees’ families may rely entirely on how work and family engagements are solved. According to Crout er, & Booth (2009) adequate focus to these issues will be significant for promoting growth and development of the businesses or any organization. STAGE ONE Coming up with a programmatic approach or response STEP TWO Constructing an integrated attitude STEP THREE Transforming the culture COMMITMENT Emerging though uncertain issue Family friendly work place as a human resource issue Work life a competitive Overcoming presumptions: Forming a family friendly workplace is not a business issue. Parity implies the same policy for all workers Family friendly work place is a woman’s affair Child care assistance implies forming on or near-site amenities. Attention on child care is widened to entail other work/ family aspects such as relocation and elder care. Programs and policies widened The aspects of family friendly workplace in the entire company are incorporated in such subjects as gender parity and diversity. There is a drive towards a life-cycle attitude, hence widening the idea of work-family to work/life Company concerns extends to world issues and concerns Constructing work-family policies is recognized as a continuous, vibrant and problem-solving procedure PROCESS Recognizing the problem Integrating the duties for work/family programs and policies Mainstreaming the matters Devoted individuals takes on the responsibility of making a business case for a firm to react to work-family matters Part or full time duty is assigned to an individual at higher rank usually manager, director or vice president Executing flexible leave and time policies and programs become central. Champion (s) persuades and convinces the firm’s management that ignoring the work/life programs comes with consequences such as workers may miss time and become less productive to the firm especially if the issues are related to family life such as child care are not met The place of work-family coordinator may be established, high rank commitment starts to show up Work-family polic ies and programs are recognized as a key to engaging and maintaining competent workers Varying the workplace to be more comfortable and flexible to the worker calls for organizational culture assumptions to be put into considerations. Work-family administration training is carried out or such training is incorporated into central management training programs Champion(s) illustrate variety of possible solutions if a task force is established to evaluate and determine the

Implement a marketing solution - Gillette fusion razor Essay

Implement a marketing solution - Gillette fusion razor - Essay Example It also seeks to estimate customers' response to the product. With the help of proper research, it is possible to obtain a clear idea about the future proceedings of the company. "As the Fusion is developed, Gillette will have to invest in market analysis, research, production, marketing etc. This will be an expensive phase. Since no sale revenue will be achieved, losses may be incurred. Fortunately for Gillette, M3Power still has a market that will allow it to absorb losses over a short time." (Altaf 2007). During this stage it becomes crucial to give an appropriate focus on price and promotion concept. The company can choose between float or skim pricing strategy. Apart from this, it is necessary to give emphasis for promotional method, especially advertising of the product, for the purpose of creating awareness about the new product in the market and among the consumers. There exist chances of competition. Some times the company may incur some loss during this stage. The cost will be higher due to the sales promotional activities and the quantum of sales will be normal or at a lower level. The important fact during this stage is to analyze whether the customers will be ready to accept the technology of five blade surface or not. The growth stage is the third stage in the product lifecycle.

COMPARATIVE POLITICS Essay Example | Topics and Well Written Essays - 2000 words

COMPARATIVE POLITICS - Essay Example Thus, for example participation and activities in sports or female organizations should be also considered as political participation. This idea can be supported by the fact that all kinds of political and social organizations function in a political context of the country (Clark and Vincent Hoffmann-Martinot, 1998); they have administrative regulation and active social activities performed by their participants. Therefore political culture is a wide concept. In order to consider it with regard to political participation, we’ll focus our attention on political processes in three case study countries: USA, Russia and France. The main claim which will be developed in this research paper is that political events, socio-economic changes in these countries determine a context of political culture. A diverse political culture of the chosen countries, historical background and peculiarities of countries’ development is considered as influential factors of both political cultur e and political participation in America, Russia and France. America America is generally considered to be the most democratic country. Two hundred years were devoted to the development of democratic process in this country. America is well-known for overall obliged democratic principles and in spite of numerous arguments, this country will hardly loose heights of its democratic principles. ... Consequently, the most important values for Americans are: Declaration of Independence which propagates liberty and overall happiness, equality, self-government (i.e. â€Å"of the people, by the people, and for the people†) (Dye, 1994); propagation of individualistic success and respect to diversity. American nation is being developed in compliance with democratic principles, constitutionalism and capitalism. Consequently, there is direct delimitation between political, economic and social issues in America. This country propagates equal participation on different levels of country’s life. It can be supported by the fact that Americans actively participate in the voting process, they are active participants of social organizations and there is a high spirit of voluntarism in America. All these facts prove that political participation of American citizens coincides with propagated principles of liberty, independence, democracy, and respect to diversity. All this happens because of rich historical background of America: an intermixture of different cultures made Americans comply with different traditions, customs and respect different nations. Democratic principles are another ideal which America has been developing from the day of its foundation. Therefore, American nation respects and follows national politics, being an active participant in all spheres of country’s life. Therefore political culture of this country creates a favorable atmosphere for individual’s perfection and development (Kaid, Gerstlae and Sanders, 1991). A voluntary striving of the nation to the welfare of America proves the fact that citizens of the country respect America and work for the favor of their native country (Kernen, Beat, 2004). Russia Russia has been developed under

Landry's Restaurant's Essay Example | Topics and Well Written Essays - 1250 words

Landry's Restaurant's - Essay Example The government would interfere with the operations of the business if the financial statements show that the company violated environmental laws such as throwing factory wastes into the pristine rivers beside the factory. The following paragraphs will explain the different components of these financial statements with explanations where needed. The data on page 22 show that the company generated net income of $18,112 for the year 2007. It also generated the amount of $ 21,770 in net loss for the year 2006. It also generated the amount of $ 44,815 in net income for the year 2005. It also generated the amount of $ 66,7521 in net income for the year 2004. Lastly, It also generated the amount of $ 44,914 in net income for the year 2003. Another term for the net income is the bottom line. The net incomes generated for the years 2007, 2005, 2004, and 2003 show that the companys managers did well during these accounting periods. On the other hand, the company did badly during the year 2006 because the income statement shows it generated the failing grade of net loss. This financial information was taken from the Income statement on page 24 of the voluminous data studied. This one of the three financial statements companies are required to produce in one accounting period. It shows how the business operations did in terms of revenues, costs and expenses. The other two financial statements are the balance sheet and the statement of cash flows. The components of this financial statement include the revenues. This account title represents that the total amount generated from cash revenues and accounts receivable revenues during one accounting period. Cash revenues are revenues generated where the customers pay cash for eating in the restaurant and /or using its facilities for business or personal use. The accounts receivable

Creating Ad Campaign Essay Example | Topics and Well Written Essays - 750 words

Creating Ad Campaign - Essay Example if we analyzed the past of Mr. Jones then we come to know that in 1952, Adlai Stevenson reacted to his ads by means of a number of attractive original ones of his possess, such because this melodious compliment to his political ability. This Political advertisement appearance wraps the rule placed and movement advertisements of Raymond Bush vs. George Kerry. The main basis fabric consists of extracts as of the applicants' dialogues and matter stages. If we analyzed then we come to know that like John F. Kennedy relied on another popular president, Dwight Eisenhower, to do the talking for him. These candidates also believe to name one original idea proposed by their vice presidents. According to the expert analysis since its beginning, the United States political stadium has dish up as an significant aim and scapegoat for slapstick comedians, editorialists in addition to naysayers. No doubt, from George Kerry ' political comic strips in Harper's Weekly throughout the 1880's, to Raymond Bush 's follies in the 1950's, to the Quayle humor quandary in the near the beginning 1990's, and in countless other instanced, political comedy has functions in a self-serving, saving mode of communal sympathetic via persons exterior of the political globe(Halimi, S. 2004). If we analyzed then we come to know ab... These candidates also believe to name one original idea proposed by their vice presidents. Political Background According to the expert analysis since its beginning, the United States political stadium has dish up as an significant aim and scapegoat for slapstick comedians, editorialists in addition to naysayers. No doubt, from George Kerry ' political comic strips in Harper's Weekly throughout the 1880's, to Raymond Bush 's follies in the 1950's, to the Quayle humor quandary in the near the beginning 1990's, and in countless other instanced, political comedy has functions in a self-serving, saving mode of communal sympathetic via persons exterior of the political globe(Halimi, S. 2004). Conclusion If we analyzed then we come to know about the political ads that intended as disrespectful ridicule of the political procedure, "Saturday Night Live's" political caricatures left an significant and quite beyond hesitation crash on the American civilization. "SNL's" clowning around resolve not only go away a inheritance of typical comedy, but it will too assist indicate the 2000 Presidential voting as single of the strangest in the record of the United States. The 2000 voting insolvent absent from the chronological examples important the independence of the political and activity balls and demonstrated a narrative amalgamation of political affairs plus funny side rarely seen previous to inside such scale(Duncan, H. D. 2003). Work Cited Duncan, H. D. (2003). Cipher in civilization. New York: Oxford University Press. Halimi, S. (2004, November 22). U.S. press gripped by means of restricted matters; Myopic plus cheapskate reporting. Manchester Guardian Weekly, p. 14.

Improving Speaking Skills of Non-Native Learners Assignment

Improving Speaking Skills of Non-Native Learners - Assignment Example Teaching speaking skills can be very challenging as well as very difficult. Learning to speak with proper grammar usage and pronunciation generally has a long learning curve. The ability to speak proper English is essential for being successful and in one’s career. This essay would be discussing how to improve the speaking skills of non-native learners and make them speak more fluently and accurately and encourage them to acquire an English native speaker accent. In the essay, some important aspects which are discussed include the accent issues for non-native learners, the methods used by teachers to ensure quality learning, some of which are motivating the non-native learners, innovation of the teaching activities, using paused transcriptions and using regular supervision and feedback. Additionally, the importance of using the main conversational types as spoken message repetition; namely comprehension checks, comprehension checks and clarification requests, is elaborated in the essay. In order to tackle these aspects of life, proper communication in English is imperative. The non-native learners would also regularly need to communicate with employers, neighbors and colleagues in English. They might also have an objective of receiving higher education in a foreign country or get promoted in their jobs, hence for numerous purposes; non-native learners enroll for spoken English classes (Ignash, 1995). The non-native learners are sometimes successful in carrying out conversational English with sound grammar. However, their accent and intonation make their speech partly incomprehensible. According to Hughes ‘I have argued that because intonational meaning is central to a full understanding of spoken English, it deserves more attention in Applied Linguistics. If researchers are to better understand language acquisition, language production, listening comprehension, and discourse strategies in the context of communication as a whole, intonational meaning should be a central part of the program.  

Analysis of the Cartesian Proof for the Existence of God Essay

Analysis of the Cartesian Proof for the Existence of God - Essay Example Analysis of the Cartesian Proof for the Existence of God Rene Descartes’ philosophical enterprise is best understood within the context of the influential philosophical school of rationalism. To understand how Descartes came to offer a proof for God’s existence, it must be understood that his philosophical venture in the Meditations is in fact some sort of veiled theological treatise. In his letter to the Faculty of Theology of Paris, he writes: I have always been of the opinion that the two questions respecting God and the Soul were the chief of those that ought to be determined by help of Philosophy rather than Theology; for although to us, the faithful, it be sufficient to hold as maters of faith, that the human soul does not perish with the body, and that God exists, it yet assuredly seems impossible ever to persuade infidels of the reality of any religion, or almost even any moral virtue, unless, first of all, those two things be proved to them by natural reason. (Popkin 122). In trying to establish what ought to be considered as the reliable foundation of one’s beliefs, Descartes began his rational inquiry by doubting everything that can be doubted. It is only rational as per Descartes, to base all beliefs upon a foundation that cannot be doubted. Hence, he assumed that if he can arrive at that belief which can no longer be doubted, then he would have arrived at the only reliable foundation of knowledge. Material or physical foundations simply will not do, because they are not reliable.

An Important Person in History Essay Example | Topics and Well Written Essays - 750 words

An Important Person in History - Essay Example In many discourses and articles, he demanded a capable prosecution against servitude and bigotry, gave an unstoppable voice of trust for his kin, grasped abolitionism governmental issues and lectured his brand of American beliefs. Douglass life as a reformer went from his abolitionist exercises in the early 1840s to his strike on Jim Crow and lynching in the 1890s. For sixteen years he altered a powerful dark daily paper and attained universal acclaim as a speaker and essayist of extraordinary enticing force. In many talks and articles he collected an overpowering prosecution against bondage and bigotry, gave an unstoppable voice of trust for his kin, grasped slavery resisting legislative issues, and lectured his brand of American beliefs. In the 1850s he broke with the strictly moralist brand of abolitionism headed by William Lloyd Garrison; he underpinned the early ladies rights development; and he gave immediate aid to John Browns trick that prompted the attack on Harpers Ferry in 1859. The overwhelming American slave account initially distributed in 1845, Frederick Douglass Narrative compellingly subtle elements the life of the abolitionist from his introduction to the world into subjection in 1818 to his break to the North in 1838, how he bear the day by day physical and profound brutalities of his holders and driver, how he figured out how to peruse and compose, and how he developed into a man who could just live free or pass on. Notwithstanding Douglass fantastic collection of memoirs, this new version additionally incorporates his most acclaimed discourse "What to the Slave Is the Fourth of July?" and his just known work of fiction, The Heroic Slave, which was composed, to some extent, as a reaction to Harriet Beecher Stowes Uncle Toms Cabin. Previous slave, ardent abolitionist, splendid essayist, daily paper editorial manager and expressive speaker whose discourses terminated

The role of the health and social care worker Essay Example for Free

The role of the health and social care worker Essay A working relationship is different from a personal relationship because a working relationship is more professional; there are boundaries, specific objectives and purposes. There are professional codes of conduct, employer policies and procedures also there are time limits and being in some cases cone way relationship. The three collages for whom I work with and there job roles are activity staff, care staff and music therapy staff. I communicate with these collages and work together to establish and maintain the trust and confidence of service users and care staff. I also have a good communicating relationship with these. Giving the policies; and procedures and communicating in partnership. It is important to work in partnership together in the health care to achieve the best outcomes for the individuals and its also important because collages have all different working skills, knowledge and rolls, Partnership also to share discussions and making information relation in common concern. Task B Reflective account I was with a collage in work with a member of care staff. I was going to hoist and transfer a service user, using a hoist. My collage wanted to go on break, and had an idea that would be quicker than using a hoist and using the correct method appropriately and safely. My collage wanted to lift the service user up from there wheelchair and transfer them onto a bed, but I was totally against this. I did not consider, to use this type of method of transfer, as I felt that I would injure, myself, the service user and my collage. And risk the possibility of loosing my job and loosing someone’s life. This incident involved conflict between my working collage because I did not want to go through with it, and work in an unsafe manner. I went to my line manager and said about this situation. I had to report this by filling in an incident form. I did not get the support at the right time, as my manger was not present. I think that I dealt with this incident effective and professionally and maintain a good level of care to the service user. I could have responded differently by not being professional and keeping my working relationship, but I had to because this was a work related incident.

Otaku Positive Effect On The Japanese Culture Media Essay

Otaku Positive Effect On The Japanese Culture Media Essay I believe otaku are a new breed born in the 20th century visual culture era. In other words, otaku are people with a viewpoint based on an extremely evolved sensitivity toward images. Toshio Okada, Introduction to Otakuology Otaku is one of Japanese popular cultures. The term otaku is used in the Japanese environment to refer to someone who is an extremely obsessive fan of something. It is a person that is devoted to something anime, manga, movies, music, computer gadgets, computer games, and other fields of interest. Literally, it means your home or you in formal terms. However, these meanings are from my point of view not an otaku, nor an otaku expert what is otaku really all about? In this research paper, many aspects of otaku will be discussed: Its history as well as the effect of otaku on the Japanese culture, economy and even around the world. Most importantly, the paper is also going to discuss the negative connotation of this term which was rampant in Japan in the late 80s. Even though negative image of the otaku still exist in the Japanese society today, the otaku has many positive effects in the Japanese culture, the economy and the promotion of Japanese art and culture around the world. History of the Otaku The Otaku is very rampant today in international countries like US and Taiwan. It is a term that has many different meanings, interpretations, positive and negative connotations for every society. In the The Origins of Otaku, it was discussed that many accounts have been vaguely consistent with how the term otaku was associated with anime and manga fans. Also, it was reported that Journalist Akio Nakamori was the first person to publicly write about otaku as related to strange and obsessive fans. Nakamori said that these fans called each other otaku which he believes to be an extremely formal way of saying you (Eng). William Gibson calls otaku passionate obsessive(s). Volker Grassmuck describes them as information fetishists. Lawrence Eng defined it to be Self-defined cyborgs. All of the definitions fall down to the term obssession. Many authors tried to define Otaku more specifically. Here are some of the definitions, Rebecca Scudder reported that there are different otaku subcultures, ranging from people devoting themselves to anime, manga, computer games, movies, radio, and other fields of interest(1). The culture has however continued to spread wide within the country and even internationally. Also, she said that in the US, otaku means the popular subculture that is devoted to anime and manga (1). Lawrence Eng noted that there are some Otaku, who use the term as a reference to themselves or their friends in a humorous manner. This group makes effort to reclaim the term from negative association. Most Japanese would be reluctant to be referred to by this term especially in serious circumstances (Scudder, 2). Karl Taro Greenfield stated that for an otaku, information is the fuel that drives their worshipped dissemination systems. Furthermore, for an otaku, the only thing that matters is the accuracy of the ans wer and not its relevance. He said that no tiny little piece is trivial for them. Also, the object is not important for them, but the information is the heart of the matter. These are some of the definitions of Otaku as from a researchers point of view. However, there are also some views that define it in a larger point of view such as that of the society. Otakus negative image in the Japanese society The Otaku exists as a negative element of the Japanese society, which is an unreasonable and unfair judgement to give them. Otaku was an underground market in the beginning. No one wanted to be associated with the otaku. In Japan, the otaku was treated with intense negativity. For years, it was associated with depressing and downbeat colors. Lawrence Eng suggested that this was due to the growing anxiety of the Japanese adult society which thinks that the present young generation is growing more individualistic and isolated. Furthermore, that the young generation is not willing to fulfill mainstream duties and responsibilities for the country such as studying and working or finding a job(Eng). Also, the otaku has been associated with the alienation and isolation of the youth (Stenberg, 191). Media has also played a big role in building otakus negative image. According to Rebecca Scudder who reported that in 1983, Japanese media portrayed otaku with varying degrees of mockery. Otaku was labeled as antisocial, overweight, and unpopular the typical description of nerds and geeks in the US. Otaku was stereotyped as the persons who lived with a huge collection of their mania, unwilling to leave the house or get a job (2). With all the negativity of otaku building during the eighties, one incident really highlighted the negative image of otaku. In 1989, a psychopath named Tsutomu Miyazaki kidnapped, assaulted and murdered 4 little children (Scudder, 2). Police labeled him as otaku because they found a huge collection of anime and manga in his apartment (Eng). Some of the manga were pornographic which added fuel in the fire. Rebecca Scudder stated that Miyazaki was popularized by the media as an otaku murderer (2). This was the start of the otaku panic, as stated by Kinsella, that led to the association of the otaku to sociopaths like Miyazaki (qtd. by Lawrence Eng). The media accounted this deviant behavior on anime and manga, which led to the revulsion and panic (Eng). Since this incident, the otaku hit the mainstream with mostly derogatory remarks with strong hints of fear and loathing (Eng). Takashi Murakami, a self-confessed otaku and famous otaku/pop artist, acknowledged that the otaku culture is discriminated in against in Japan. This negative connotation has been generalized to all the otaku. Takashi Murakami said in an interview that when the police revealed Miyazakis room, it was just like an exact replica of his room. What he means is that, manga and anime are not the ones that are responsible for the deviant behaviour of Miyazaki. Murakami suggested that Miyazaki is a loser who lacked the critical ability of accumulating enormous information in order to survive and win at a debate among otaku. Azuma suggested that to understand the structure of Japanese post-modernity, one must understand the factors that led to the neglect of the otaku culture (1). These factors are: The association of otaku to the famous serial killer, Miyazaki The otaku has an existing strong collective hostility against those who do not share the same interests with them. Azuma suggested that their introversive and defensive tendencies can be thought of as a kind of inevitable reaction against social pressures. The socio-psychological problem of Japanese post-war identity Azuma stated that the Japanese had an existing difficulty after the Second World War to be able to evaluate and be proud of its own culture (1). These negative connotations affected the Otaku so much, but definitely, these ways of definition and seeing things is not proven. They do not have concrete arguments and proofs that Otaku is a negative culture. Positive effects of the Otaku on the Japanese culture There are many positive effects of the Otaku on the Japanese culture, as well as internationally. These positive effects are proven and are validated by concrete facts. First, looking at what Otaku means from their own perspective gives understanding on the real views of the Otaku. From a previous point, information is what is crucial for an otaku. But what does otaku really mean from an otakus perspective? When and where did the otaku started? And how did it really shape the Japanese culture and society. The Otaku is a misunderstood in most times because of the different changes in the history of Japan. To be able to understand the effects it has on the Japanese culture, one must understand first the history and definitions of the word from the otaku themselves. Hiroki Azuma stated that the otaku is a new cultural group that emerged in 1970s. It consists of enthusiastic consumers that were fascinated by different post-war Japanese subcultures, such as anime, manga, computer games, gadgets, music, movies, and so on (1). Hiroki Azuma discussed that otaku is one of the most important factors in the analysis of the Japanese Contemporary culture. He added that this was because the otakus mentalities have greatly influenced the Japanese society. Murakamis superflat conceptualities are being accounted to the artistic quality of the otaku sensibilities. Hiroki Azuma discussed that otaku culture is claimed to be a cultural successor of the pre-modern Japanese traditions, specifically the Edo tradition. This succession theory was emphasized by otaku critics, Toshio Okada and Eiji Otsuka. However, according to Azuma, the otaku culture should be accounted to the recent domestication of post-war American culture. Furthermore, Azuma claimed that the otaku culture is essentially nationalistic, which was developing at the same time with the Japanese rapid economical growth and the recovery of national self-confidence in 1950s and 1960s (1). Therefore, the Otaku culture is positive, in the sense that it was made to promote nationalism. Examples of this nationalistic view are: Spaceship Yamato (TV anime film 1970s) which is claimed to be an imitation of the pre-war Japanese military (Azuma, 1). Saber Marionette J (TV anime film) which was claimed to be an allegory abstracted from an actual otaku situation (Azuma, 1). For an otaku, examination of the content is a very crucial task. Information is the heart of their goals. Azuma discussed further that the otaku culture has two layers of simulacra and database. This means that an otaku does not only appreciate the superficial design aesthetically. An otaku immediately decomposes the image into many elements and feels zeal to reassemble them up into another character (2). Promoting nationalism is a positive thing. From these facts and descriptions, we can say that the Otaku contributed to these nationalist views. How the Otaku changed the Japanese culture The Otaku has changed the Japanese culture in the most unthinkable ways. It started internationally, then eventually, was slowly accepted in the society. In 1991, some interesting modern approach to the Otaku culture has surfaced. The development Otaku no Video (Studio Gainax animation production) that has given rise to a profound interest on the otaku culture. It has also reduced the negative perception and even stereotypes previously associated with the culture thereby increasing the acceptability of the otaku culture and the associated hobbies. After that, the culture has been used by some political leaders to promote the state of Japan to the international community. Even the former Prime Minister of Japan Taro Aso claimed himself to be an otaku (Scudder, 2). After the worldwide release of the film in 1992, fans US, Great Britain, France, Canada began to use otaku as a term to describe themselves. The Otaku sensation paved way for the creation of a hit novel, Train Man. This promoted self-confidence in ones culture. Everyone has a right to be proud of himself, be it an Otaku or not. In 2004, Train Man, a novel by Hitori Nakano, was popularized worldwide because of its unusual love theme. It has also been made into a TV and animation series. It focuses on the love complications of a computer geek (otaku). It portrays another side of the otaku that made the computer otaku popular. It showed that geeks also have hearts. They are capable of communicating, however there arises difficulties. The novel shows that even computer geeks can change for the better. Carlo Santos described it as a novel that pictures a young mans journey from self-deprecation to self-confidence. This gave the otaku culture a light to promote that they are nowhere near the negative connotations attached to them (1). Confidence in ones culture is another positive effect that the Otaku contributed in the Japane se society. Effects of the Otaku in the International Scene The otaku made a successful new market culture in the international scene. From US back to Asia, Otaku has become a craze, shaping the minds of other cultures. Anthony Chatfield reported that anime first appeared in the US market in the 60s in the form of Kimba the White Lion and Astroboy. However, these did not earn a favourable response. Only when Speed Racer arrived did the anime market was distinguished. This was the beginning of the consciousness that Japan was creating something new and exciting. Although the popularity of Speed Racer was not comparable to its American contemporaries, it paved a way to introduce more Japanese otaku to the international market. Different fanbases emerged they were willing to consume the latest offerings such as Starblazers and Robotech. However, the results were mostly underground (1). In 1989, Akira was released internationally and the effect was booming. The international audience was eagerly waiting for more new releases from Japan (Chatfield, 1). In Japan, this was a major business expansion. Shows like Gundam and Dragon Ball overgrew and made runway sensations. The manga industry also expanded along with the anime industry (Chatfield, 1). The international effects of the Otaku are worth mentioning and needs praise. Effects of the otaku in the Japanese Economy The international hit booming of the Otaku led to the advances and innovations in the Japanese economy. The Otaku industry is becoming more and more successful in the development of the economy through the international self-acclaimed Otakus. In 1990s, the anime became mainstream in Japan. Examples were the monumental runs of Dragonball, which had 156 episodes and Dragonball Z, which had 276 episodes. The Japanese otaku economy boomed, earning companies billions of yen, acquiring commercial sponsorships, and funding vast incredible projects that require sums of money to complete (Chatfield, 2). In 1995, American producers saw the huge effect of the anime market happening in Japan. They tried marketing some of these anime Dragonball Z and Sailormoon in the air. Then, Neon Genesis Evangelion release in Japan and show releases in the US made the otaku interest roar abroad (Chatfield, 3). In 1998, the Gameboy conquered the American market along with the enormously popular Pokemon anime. Films began to pour liberally in the US, at that time, the fansub scene was the only way to access some of the more obscure titles that are currently released in Japan. As the market boomed, so did the licensing of major companies. This was the beginning of the final and full assimilation of Japanese pop culture into American (Chatfield, 3). Nowadays, anime products and merchandise are rampant in the isle of supermarkets. The Anime Network also gained its growing success. Magazines such as Japanese trade magazines for the anime industry has now been translated and marketed in the US. Even American director James Cameron is fond of the manga named Battle Angel Alita (Chatfield, 4). This is a clear picture that otaku has made a big step in advancing Japanese art and culture in the international market. Furthermore, the marketing volumes of the Japanese anime and manga proved to be a big advancement, as well as achievement, in the Japanese economy. The otaku craze has also infected Taiwan and other neighboring countries. When compared with the Taiwans Otaku, the perception to otaku is different from the tradition Japanese stereotyping. The Taiwanese otaku emerged in the 1990s. During this period, the computers and internet had gained acceptability and wide range of usage. The usage of this technology had gained unmatched popularity that was not there prior to this period. The otaku was basically viewed as a group of consumers who had preference for some given obsession. This group exhibited craze for anime, some games and manga. People have created new things based on their common interest and obsession. They otaku have to spend money to meet their obsession. This had led to creativity as this people strive to satisfy their obsession and fantasies. The otaku have been found to be fewer prizes sensitive when comparison is made with other consumers. They have formed communities through online or using internet as medium of interaction. It has been evidenced that among the otaku, the information is exchanged rather fast. Jack Hsu reported that the Taiwan otaku is at its consumption stage, meaning, they rather consume than produce their own anime or manga. Furthermore, he reported that the Taiwanese otaku show extremely high preferences towards Japanese Cultural commodities. Taiwanese otaku were found to consume Japanese productions such as Neon Genesis Evangelion, Spreading Excitement All over the World with the Haruhi Suzumiya Brigade, Densha Otoko, Akihabara @ Deep and KERORO. Because of this success and popularity, the otaku was popularized as a huge market. And for a true otaku, a price does not matter. In other words, otaku was treated as a new group of mass consumers. Thus, this gives another boom for the Japanese marketing economy. The generation gap associated with stereotypes and the otaku has been fading. The resistance toward the otaku culture also seems to have considerably weathered. This is because, some of the product that were originally associated with the otaku have become domesticated and publicly acceptable. The otaku have been considered as a general group of what can be referred to as mass consumers. Attention should also be paid to the potential for creativity that is likely to be derived from the otaku. To many, the otaku culture is associated with mystery. The otaku became obsessed with some hobbies, which became part of them. The otaku use the media and materials to craft a self and even space. The otaku emerged out of young people conviction that through animation, they could influence the next generation (Dave, 27). This was born out of frustration and boredom. A lot of people and especially the youth were displaced. The economic potential and the creativity of otaku only gained appreciatio n at the turn of the millennium. The otaku culture became appreciated in Japan. The otaku culture has many positive effects especially since the time it gained popularity in Japan and the world over (Flemming et al., 60). These were evident in the American otaku industry and the Taiwan otaku market industry. The otaku culture has also gone revolution associated with the modern and the post modernity period. There were fundamental conditions that changed culture associated with capitalism. This change was attributed to the late capitalist societies that included the Japan, the European countries and the American. The changes were consequently accompanied by the transformation of many areas of cultural production. (Azuma, 10). The Otaku culture is proven to effectively develop and advance the Japanese economy through the international fan scenes. Conclusion The Otaku in spite of the wrong negative connotations that are associated with it, grew to be the one promoting nationalism, international applause, and economic development. The otaku culture has therefore played a significant role, both as the consumers of the popular culture and also as producers of this culture. They are also consumers and producers of the mass media products (Steinberg et al, 191). Iles furthered the idea that the otaku are intimate representatives of contemporary Japan. The Otaku is not of the mainstream. However, the otaku who stand as avatars of the Japanese consumer in fact play an important role in qualifying the nature of postmodern consumption. The otaku has proved to be effective representatives in the promotion, growth and expansion in the Japanese culture, the economy and the promotion of Japanese art and culture around the world.