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Showing posts with label Economy. Show all posts
Showing posts with label Economy. Show all posts

Banking & Economy - new

Banking Awareness
Origin of the word "Bank" Bank Slogans
Types of Accounts Credits Creation in Bank
Bank Terminology World Bank
List of World Bank Presidents
Money
What is Money ? Types of Money
Functions of Money
Currency
Important Notes Indian Currency
Security Printing and Minting
Banking in India
Important in Exams Types of Banks in India
List of Banks
Reserve Bank of India
Facts of RBI Introduction to RBI
Boards of RBI Legal Framework/Acts governing by RBI
Main Functions of RBI Subsidiaries of RBI
Budget
Budget Union Budget 2013 -14
Railway Budget 2013 - 14
Planning - World & India
Planning Human Development Index
National Income
Insurance
Insurance History of Life Insurance in India
History of General Insurance in India Insurance Regulatory and Development Authority(IRDA)
Insurance companies in India Important notes on Insurance
Stock Exchange
Stock Exchange and Types National Stock Exchange(NSE) of India
Bombay Stock Exchange(BSE) of India Regional Stock Exchanges(RSE) of India
List of World Exchanges Important Points
Taxation(should update)
Taxation in India
Committee / Commissions
Finance Commission Committee / Commissions
Socio-Economic sectors
Industries Agriculture
Economic issues
Inflation Unemployment
Poverty Population
Fiscal Policy
Fiscal Policy
International Organizations
IDA - International Development Association IFC - International Finance Corporation
IMF - International Monetary Fund International Centre for Settlement of Investment Disputes
MIGA - Multilateral Investment Guarantee Agency ADB - Asian Development Bank
WTO - World Trade Organization World Economic Forum
Other International Institutions / Organizations
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List of World Exchanges


African Exchanges :

Ghana Stock Exchange, Ghana
Johannesburg Stock Exchange, South Africa
The South African Futures Exchange (SAFEX), South Africa

Asian Exchanges :

Sydney Futures Exchange, Australia
Australian Stock Exchange, Australia
Shenzhen Stock Exchange, China
Stock Exchange of Hong Kong, Hong Kong
National Stock Exchange of India, India
Bombay Stock Exchange, India
Jakarta Stock Exchange, Indonesia
Indonesia NET Exchange, Indonesia
Nagoya Stock Exchange, Japan
Osaka Securities Exchange, Japan
Tokyo Grain Exchange, Japan
Tokyo International Financial Futures Exchange (TIFFE), Japan
Tokyo Stock Exchange, Japan
Korea Stock Exchange, Korea
Kuala Lumpur Stock Exchange, Malaysia
New Zealand Stock Exchange, New Zealand
Karachi Stock Exchange, Pakistan
Lohore Stock Exchange, Pakistan
Stock Exchange of Singapore (SES), Singapore
Singapore International Monetary Exchange, Ltd. (SIMEX), Singapore
Colombo Stock Exchange, Sri Lanka
Sri Lanka Stock Closings, Sri Lanka
Taiwan Stock Exchange, Taiwan
The Stock Exchange of Thailand, Thailand

European Exchanges :

Vienna Stock Exchange, Austria
EASDAQ, Belgium
Zagreb Stock Exchange, Croatia
Prague Stock Exchange, Czech Republic
Copenhagen Stock Exchange, Denmark
Helsinki Stock Exchange, Finland
Paris Stock Exchange, France
Les Echos: 30-minute delayed prices, France
Nouveau Marche, France
MATIF, France
Frankfurt Stock Exchange, Germany
Ahtens Stock Exchange, Greece
Budapest Stock Exchange, Hungary
Italian Stock Exchange, Italy
National Stock Exchange of Lithuania, Lithuania
Macedonian Stock Exchange, Macedonia
Amsterdam Stock Exchange, The Netherlands
Oslo Stock Exchange, Norway
Warsaw Stock Exchange, Poland
Lisbon Stock Exchange, Portugal
Bucharest Stock Exchange, Romania
Russian Securities Market News, Russia
Ljubljana Stock Exchange, Inc., Slovenia
Barcelona Stock Exchange, Spain
Madrid Stock Exchange, Spain
MEFF: (Spanish Financial Futures & Options Exchange), Spain
Stockholm Stock Exchange, Sweden
Swiss Exchange, Switzerland
Istanbul Stock Exchange, Turkey
FTSE International (London Stock Exchange), United Kingdom
London Stock Exchange: Daily Price Summary, United Kingdom
Electronic Share Information, United Kingdom
London Metal Exchange, United Kingdom
London International Financial Futures & Options Exchange, United Kingdom

Middle Eastern Exchanges :

Tel Aviv Stock Exchange, Israel
Amman Financial Market, Jordan
Beirut Stock Exchange, Lebanon
Palestine Securities Exchange, Palestine
Istanbul Stock Exchange, Turkey

North American Exchanges :

Alberta Stock Exchange, Canada
Montreal Stock Exchange, Canada
Toronto Stock Exchange, Canada
Vancouver Stock Exchange, Canada
Winnipeg Stock Exchange, Canada
Mexican Stock Exchange, Mexico
AMEX, United States
New York Stock Exchange (NYSE), United States
NASDAQ, United States
The Arizona Stock Exchange, United States
Chicago Stock Exchange, United States
Chicago Board Options Exchange, United States
Chicago Board of Trade, United States
Chicago Mercantile Exchange, United States
Kansas City Board of Trade, United States
Minneapolis Grain Exchange, United States
Pacific Stock Exchange, United States
Philadelphia Stock Exchange, United States

South American Exchanges :

Bermuda Stock Exchange, Bermuda
Rio de Janeiro Stock Exchange, Brazil
Sao Paulo Stock Exchange, Brazil
Cayman Islands Stock Exchange, Cayman Islands
Chile Electronic Stock Exchange, Chile
Santiago Stock Exchange, Chile
Bogotá Stock Exchange, Colombia
Guayaquil Stock Exchange, Ecuador
Jamaica Stock Exchange, Jamaica
Nicaraguan Stock Exchange, Nicaragua
Lima Stock Exchange, Peru
Trinidad and Tobago Stock Exchange, Trinidad and Tobago
Caracas Stock Exchange, Venezuela
Venezuela Electronic Stock Exchange, Venezuela


Last updated on: 02/10/2019

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Regional Stock Exchanges (RSE) of India


There are 23 stock exchanges in India. Among them two are national level stock exchanges namely Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE). The rest 21 are Regional Stock Exchanges (RSE).

The Regional Stock Exchanges(RSE) in India started spreading its business operation from 1894.

The first RSE to start its functioning in India was Ahmedabad Stock Exchange (ASE) followed by Calcutta Stock Exchange (CSE) in 1908.

The stock exchange in India witnessed a flourishing phase in 1980s with the incorporation of many exchanges under it.

In early 60s, it has only few certifies RSEs under it namely Hyderabad Stock Exchange, Indore Stock Exchange, Madras Stock Exchange, Calcutta Stock Exchange and Delhi Stock Exchange.

The recent to join the list was Meerut Stock Exchange and Coimbatore Stock Exchange.

List of Regional Stock Exchanges in India :

* Ahmedabad Stock Exchange
* Bangalore Stock Exchange
* Bhubaneshwar Stock Exchange
* Calcutta Stock Exchange
* Cochin Stock Exchange
* Coimbatore Stock Exchange
* Delhi Stock Exchange
* Guwahati Stock Exchange
* Hyderabad Stock Exchange
* Jaipur Stock Exchange
* Ludhiana Stock Exchange
* Madhya Pradesh Stock Exchange
* Madras Stock Exchange
* Magadh Stock Exchange
* Mangalore Stock Exchange
* Meerut Stock Exchange
* OTC Exchange Of India
* Pune Stock Exchange
* Saurashtra Kutch Stock Exchange
* Uttar Pradesh Stock Exchange
* Vadodara Stock Exchange

Last updated on: 02/10/2019

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Bombay Stock Exchange (BSE) of India


The oldest stock market in Asia, BSE stands for Bombay Stock Exchange and was initially known as "The Native Share & Stock Brokers Association."

Incorporated in the 1875, BSE became the first exchange in India to be certified by the administration. It attained a permanent authorization from the Indian government in 1956 under Securities Contracts (Regulation) Act, 1956.

Over the year, the exchange company has played an essential part in the expansion of Indian investment market. At present the association is functioning as corporatised body integrated under the stipulations of the Companies Act, 1956.

Some BSE Figures and Facts :

* BSE exchange was the first in India to launch Equity Derivatives, Free Float Index, USD adaptation of BSE Sensex and Exchange facilitated Internet buying and selling policy.

* BSE exchange was the first in India to acquire the ISO authorization for supervision, clearance & Settlement.

* BSE exchange was the first in India to have launched private service for economic training.

* Its On-Line Trading System has been felicitated by the internationally renowned standard of Information Security Management System.

* The BSE is the world's 10th largest stock exchange with an overall market capitalization of more than $2.2 trillion on as of April 2018.

History :

The Bombay stock exchange was founded by Premchand Roychand, an influential businessmen in 19th-century Bombay. He made a fortune in the stockbroking business and came to be known as the Cotton King, the Bullion King or just the Big Bull. He was also the founder of the Native Share and Stock Brokers Association, an institution that is now known as the BSE.

While BSE Ltd is now synonymous with Dalal Street, it was not always so. The first venue of the earliest stock broker meetings in the 1850s was under banyan trees. At last, in 1874, the brokers found a permanent place, called Dalal Street (Brokers' Street).

The Bombay Stock Exchange is the oldest stock exchange in Asia. Its history dates back to 1855, when 22 stockbrokers would gather under banyan trees in front of Mumbai's Town Hall. The location of these meetings changed many times to accommodate an increasing number of brokers. The group eventually moved to Dalal Street in 1874 and became an official organization known as "The Native Share & Stock Brokers Association" in 1875.

On August 31, 1957, the BSE became the first stock exchange to be recognized by the Indian Government under the Securities Contracts Regulation Act.

In 1980, the exchange moved to the Phiroze Jeejeebhoy Towers at Dalal Street, Fort area.

In 1986, it developed the S&P BSE SENSEX index, giving the BSE a means to measure the overall performance of the exchange.

In 2000, the BSE used this index to open its derivatives market, trading S&P BSE SENSEX futures contracts.

The development of S&P BSE SENSEX options along with equity derivatives followed in 2001 and 2002, expanding the BSE's trading platform.

The Bombay Stock Exchange switched to an electronic trading system developed by CMC Ltd. in 1995. It took the exchange only 50 days to make this transition. This automated, screen-based trading platform called BSE On-Line Trading (BOLT) had a capacity of 8 million orders per day.

The BSE is also a Partner Exchange of the United Nations Sustainable Stock Exchange initiative, joining in September 2012.

BSE established India INX on 30 December 2016. India INX is the first international exchange of India.

BSE launches commodity derivatives contract in gold, silver.

Keeping in line with the vision of Shri Narendra Modi, Hon’be Prime Minister of Inida, BSE has launched India INX, India's 1st international exchange, located at GIFT CITY IFSC in Ahmedabad.


Last updated on: 02/10/2019

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National Stock Exchange (NSE) of India


NSE was incorporated in 1992 as a tax-paying company and was recognized as a stock exchange in 1993 under the Securities Contracts (Regulation) Act, 1956, when P. V. Narasimha Rao was the Prime Minister of India and Manmohan Singh was the Finance Minister.

The National Stock Exchange of India Ltd. (NSE) is the leading stock exchange in India and the second largest in the world by nos. of trades in equity shares from January to June 2018, according to World Federation of Exchanges (WFE) report.

NSE launched electronic screen-based trading in 1994, derivatives trading (in the form of index futures) and internet trading in 2000, which were each the first of its kind in India.

NSE has a fully-integrated business model comprising our exchange listings, trading services, clearing and settlement services, indices, market data feeds, technology solutions and financial education offerings.

NSE also oversees compliance by trading and clearing members and listed companies with the rules and regulations of the exchange.

NSE was also instrumental in creating the National Securities Depository Limited (NSDL) which allows investors to securely hold and transfer their shares and bonds electronically. It also allows investors to hold and trade in as few as one share or bond. This not only made holding financial instruments convenient but more importantly, eliminated the need for paper certificates and greatly reduced the incidents of forged or fake certificates and fraudulent transactions that had plagued the Indian stock market.

The NSDL's security, combined with the transparency, lower transaction prices and efficiency that NSE offered, greatly increased the attractiveness of the Indian stock market to domestic and international investors.

History :

NSE is mainly set up in the early 1990s to bring in transparency in the markets. Instead of trading membership being confined to a group of brokers, NSE ensured that anyone who was qualified, experienced and met minimum financial requirements was allowed to trade.

NSE was set up by a group of leading Indian financial institutions at the behest of the government of India to bring transparency to the Indian capital market.

Based on the recommendations laid out by the Pherwani committee, NSE has been established with a diversified shareholding comprising domestic and global investors.

The key domestic investors include Life Insurance Corporation of India, State Bank of India, IFCI Limited, IDFC Limited and Stock Holding Corporation of India Limited.

And the key global investors are Gagil FDI Limited, GS Strategic Investments Limited, SAIF II SE Investments Mauritius Limited, Aranda Investments (Mauritius) Pte Limited and PI Opportunities Fund I

Year History
1992 NSE was incorporated in 1992 as a tax-paying company.
1993 the exchange was recognized as a stock exchange and was certified under Securities Contracts (Regulation) Act, 1956
1994 NSE commenced operations in the Wholesale Debt Market (WDM) segment in June 1994.
The capital market (equities) segment of the NSE commenced operations in November 1994
1995 Setup of wholly-owned subsidiary, NSE Clearing, which became the first clearing corporation to be established in India (according to the Oliver Wyman Report).
NSE Clearing commenced clearing and settlement operations in the following year.
1998 Established NSE Indices, subsidary, as a joint venture with CRISIL Limited to operate an indices business.
1999 Established NSEIT, a wholly-owned subsidiary and a global technology firm that provides end-to-end technology solutions, including application services, infrastructure services, analytics as a service and IT enabled services.
2000 Started its operations in the derivatives segment commenced in June 2000. Incorporated DotEx, a wholly-owned subsidiary, and consolidated the data and info-vending business under DotEx.
2006 Incorporated NSE Infotech Ltd., a wholly-owned subsidiary for IT research and development.
2013 NSE Indices became a wholly-owned subsidiary in 2013 following the acquisition of CRISIL's 49% stake.
2015 In 2015 and 2016, respectively, NSEIT launched its Testing Center of Excellence and Integrated Security Response Center
2016 Consolidated the education business under NSE Academy, a wholly-owned subsidiary.
Incorporated two new subsidiaries, NSE IFSC Limited and NSE IFSC Clearing Corporation Limited, in furtherance of NSE's long-term business strategy to establish an international exchange in GIFT City.
2018 National Stock Exchange has a total market capitalization of more than US$2.27 trillion, making it the world's 11th-largest stock exchange as of April 2018.

NSE offers trading and investment in the following segments :

Equity
  • Equities
  • Indices
  • Mutual Funds
  • Exchange Traded Funds
  • Initial Public Offerings
  • Security Lending and Borrowing Scheme etc.
Derivatives
  • Equity Derivatives (including Global Indices like CNX 500, Dow Jones and FTSE )
  • Currency Derivatives
  • Commodity Derivatives
  • Interest Rate Futures
Debt
  • Corporate Bonds

Important Notes :

MD & CEO : Mr. Vikram Limaye

Location : Mumbai, India

Founded : 1992


Last updated on: 02/10/2019

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Stock Exchange and Types


Stock Exchanges are structured marketplace where affiliates of the union gather to sell firm's shares and other securities.

India Stock Exchanges can either be a conglomerate/ firm or mutual group. The affiliates act as intermediaries to their patrons or as key players for their own accounts.

A stock exchange is an entity that provides services for stock brokers and traders to trade stocks, bonds, and other securities.

Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and dividends.

Securities traded on a stock exchange include shares issued by companies, unit trusts, derivatives, pooled investment products and bonds.

Stock Exchanges in India also assist the issue and release of securities and other monetary tools incorporating the fortification of revenues and dividends.

The book keeping of the trade is centralized but the buying and selling is associated to a particular place as advanced marketplaces are mechanized.

The buying and selling on an exchange is only open to its affiliates and brokers.

Different Stock Exchanges in India :

  • National Stock Exchange(NSE) of India
  • Bombay Stock Exchange(BSE) of India
  • Regional Stock Exchanges(RSE) of India

Last updated on: 02/10/2019

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Insurance companies in India


IRDA has till now provided registration to 12 private life insurance companies and 9 general insurance companies.

If the existing public sector insurance companies are considered then there are presently 13 insurance companies in the life insurance side and 13 companies functioning in general insurance business.

General Insurance Corporation has been sanctioned as the "Indian re-insurer" for underwriting only reinsurance business.

List of Life Insurance companies in India
  • Life Insurance Corporation of India (Public sector)
  • Allianz Bajaj Life Insurance Company Limited
  • Birla Sun-Life Insurance Company Limited
  • HDFC Standard Life Insurance Co. Limited
  • ICICI Prudential Life Insurance Co. Limited
  • ING Vysya Life Insurance Company Limited
  • Max New York Life Insurance Co. Limited
  • MetLife Insurance Company Limited
  • Om Kotak Mahindra Life Insurance Co. Ltd.
  • SBI Life Insurance Company Limited
  • TATA AIG Life Insurance Company Limited
  • AMP Sanmar Assurance Company Limited
  • Dabur CGU Life Insurance Co. Pvt. Limited

List of General Insurance Companies
  • National Insurance Company Limited (Public sector)
  • New India Assurance Company Limited (Public sector)
  • Oriental Insurance Company Limited (Public sector)
  • United India Insurance Company Limited (Public sector)
  • Bajaj Allianz General Insurance Co. Limited
  • ICICI Lombard General Insurance Co. Ltd.
  • IFFCO-Tokio General Insurance Co. Ltd.
  • Reliance General Insurance Co. Limited
  • Royal Sundaram Alliance Insurance Co. Ltd.
  • TATA AIG General Insurance Co. Limited
  • Cholamandalam General Insurance Co. Ltd.
  • Export Credit Guarantee Corporation
  • HDFC Chubb General Insurance Co. Ltd.
REINSURER
  • General Insurance Corporation of India

Last updated on: 02/10/2019

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Important Points on Stock Exchange


1) The place where buys and sells of shares took place is called Stock Exchange.

2) There are 24 Stock Exchanges in India.

3) There are 3 National Stock Exchanges and the remaining are Regional Stock Exchanges.

4) OTCEI - Over the Counter Exchange of India. It conducts limited market shares business and also utilized companies shares.

5) INDONET - Conducts small companies share market.

6) ISE - Inter connected Stock Exchanges of India.

7) SEBI - Security Exchange Board of India Ltd :
  • Perwani Committee suggested SEBI
  • Started on April 12th, 1988.
  • Became Statutory body in 1992.
  • Head Quarter - Mumbai
  • Chairman - Upendra Kumar Sinha

8) Main Functions of SEBI :
  • Protects the interests of share holders.
  • Stock market development.
  • Share market control
  • Checks unlawful activities.

9) Bombay Stock Exchange  :
  • is in Dalal street
  • First Stock Exchange in India.
  • Established in 1887 in Mumbai.
  • introduced BOLT (Bombay Online Trading)

10) Largest Stock Exchanges in World :
  • New York Stock Exchange
  • NASDAQ - National Associated of Security Dealers Automated Quotations.
  • NSE- National Stock Exchange.
  • Shangai - China (Commercial City of China)
  • Korea - Kospy
  • Bomaby Stock Exchange


Last updated on: 02/10/2019

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IRDA : Insurance Regulatory and Development Authority


The Insurance Regulatory and Development Authority of India (IRDAI) is an autonomous, statutory body tasked with regulating and promoting the insurance and re-insurance industries in India.

It was constituted by the Insurance Regulatory and Development Authority Act, 1999, an Act of Parliament passed by the Government of India.

Headquarters are in Hyderabad, Telangana, where it moved from Delhi in 2001.

IRDAI Regional Offices are at New Delhi & Mumbai.


History :

Following the recommendations of the Malhotra Committee, in 1999 the Insurance Regulatory and Development Authority (IRDA) was constituted to regulate and develop the insurance industry and was incorporated in April 2000.

Objectives of the IRDA include promoting competition to enhance customer satisfaction with increased consumer choice and lower premiums while ensuring the financial security of the insurance market.

The IRDA opened up the market in August 2000 with an invitation for registration applications; foreign companies were allowed ownership up to 26 percent.

The authority, with the power to frame regulations under Section 114A of the Insurance Act, 1938, has framed regulations ranging from company registrations to the protection of policyholder interests since 2000.

In December 2000, the subsidiaries of the General Insurance Corporation of India were restructured as independent companies and the GIC was converted into a national re-insurer.

Parliament passed a bill de-linking the four subsidiaries from the GIC in July 2002. There are 28 general insurance companies, including the Export Credit Guarantee Corporation of India and the Agriculture Insurance Corporation of India, and 24 life-insurance companies operating in the country.

With banking services, insurance services add about seven percent to India’s GDP.

In 2013 the IRDAI attempted to raise the foreign direct investment (FDI) limit in the insurance sector to 49 percent from its current 26 percent.

The FDI limit in the sector was raised to 100 percent according budget 2019.


Structure :

Section 4 of the IRDAI Act 1999 specifies the authority's composition.

 It is a ten-member body, appointed by the government of India.

 It is a ten-member body consisting of a chairman, five full-time and four part-time members.

 At present (1 Sept, 2018), the authority is chaired by Dr. Subhash Chandra Khuntia

 Its full-time members are Mrs T.L.Alamelu, K.Ganesh, Pournima Gupte, Praveen Kutumbe and Sujay Banarji.


Functions :

 The functions of the IRDAI are defined in Section 14 of the IRDAI Act, 1999, and include:

 Issuing, renewing, modifying, withdrawing, suspending or cancelling registrations.

 Protecting policyholder interests.

 Specifying qualifications, the code of conduct and training for intermediaries and agents.

 Specifying the code of conduct for surveyors and loss assessors.

 Promoting efficiency in the conduct of insurance businesses.

 Promoting and regulating professional organisations connected with the insurance and re-insurance industry.

 Levying fees and other charges.

 Inspecting and investigating insurers, intermediaries and other relevant organisations.

 Regulating rates, advantages, terms and conditions which may be offered by insurers not covered by the Tariff Advisory Committee under section 64U of the Insurance Act, 1938 (4 of 1938).

 Specifying how books should be kept.

 Regulating company investment of funds.

 Regulating a margin of solvency.

 Adjudicating disputes between insurers and intermediaries or insurance intermediaries.

 Supervising the Tariff Advisory Committee.

 Specifying the percentage of premium income to finance schemes for promoting and regulating professional organisations.

 Specifying the percentage of life- and general-insurance business undertaken in the rural or social sector.

 Specifying the form and the manner in which books of accounts shall be maintained, and statement of accounts shall be rendered by insurers and other insurer intermediaries.


Last updated on: 02/10/2019

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Important notes - Insurance


1) LIC established on September 1st, 1956 with five crores.

2) LIC Head Quarters - Mumbai

3) LIC celebrated 50th Anniversary on September 1st, 2006.

4) Chegla Committee gave suggestions to LIC.

5) LIC has:
 - 8 Zonal offices
 - 113 Divisional Offices
 - 2048 branch offices
 - LIC Building is "Yogakshemam"
 - LIC Anthem is " Nigam Geetham"

6) LIC is NBFC ( Non Banking Financial Corporation )

7) LIC doesn't give insurance to Agriculture and Air Force

8) General Insurance Corporation - GIC
 - Established in 1972
 - Business started on January 1st 1973.

9) General Insurance Corporation has four subsidiary organs. They are :
 - National Insurance Company Limited (Kolkata, 103 years)
 - New India Assurance Company Limited (HQ - Mumbai)
 - Oriental Insurance Company Limited (New Delhi)
 - United India Insurance Company Limited (Chennai)

10) IRDA is "Insurance Regulatory Development Authority"
 - Established on April 19th, 2000.
 - Recommended by R.N. Malhotra committee in 1993.
 - Chairman is " J. Hari Narayan"

11) Functions of IRDA
 - concentrates on LIC development.
 - protects the interest of policy holders.

Last updated on: 02/10/2019

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History of Life Insurance in India


Life Insurance sector deals with the risks and the accidents affecting the life of the customer. Alongside, this insurance policy also offers tax planning and investment returns.

There are various types of life Insurance Policies in India :
a.) Endowment Policy
b.) Whole Life Policy
c.) Term Life Policy
d.) Money-back Policy
e.) Joint Life Policy
f.) Group Insurance Policy
g.) Loan Cover Term Assurance Policy
h.) Pension Plan or Annuities
i.) Unit Linked Insurance Plan

Important timelines in the Indian life insurance :

* 1818: establishment of the Oriental Life Insurance Company in Kolkata, the business of Indian life insurance started in the year 1818. This company failed in 1834.
* 1829: the Madras Equitable begun transacting life insurance business in the Madras Presidency.
* 1870: enactment of the British Insurance Act and in the last three decades of the nineteenth century, the Bombay Mutual (1871), Oriental (1874) and Empire of India (1897) were started in the Bombay Residency.
This era, however, was dominated by foreign insurance offices which did good business in India, namely Albert Life Assurance, Royal Insurance, Liverpool and London Globe Insurance and the Indian offices were up for hard competition from the foreign companies.
* 1912: The Indian Life Assurance Companies Act, the first statutory measure to regulate life business was enacted.
* 1914: the Government of India started publishing returns of Insurance Companies in India.
* 1928: Indian Insurance Companies Act was enacted. This act enabled the Government to collect statistical information about both life and non-life business transacted in India by Indian and foreign insurers including provident insurance societies.
* 1938: Insurance Act, 1938 amended previous act and consolidated it with comprehensive provisions for effective control over the activities of insurers.
* 1950: The Insurance Amendment Act abolished Principal Agencies. However, due to fierce competition and allegations of unfair trade practices, The Government of India, decided to nationalize insurance business.
* 1956: 245 Indian and foreign insurers and provident societies were taken over by the central government and they got nationalized. LIC was formed by an Act of Parliament, viz. LIC Act, 1956. It started off with a capital of Rs. 5 crore and that too from the Government of India.


Last updated on: 02/10/2019

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Insurance


What is Insurance ?

Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company.

Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss.

An entity which provides insurance is known as an insurer, insurance company, insurance carrier or underwriter. A person or entity who buys insurance is known as an insured or as a policyholder.

The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer's promise to compensate the insured in the event of a covered loss.

Methods for transferring or distributing risk were practiced by Chinese and Babylonian traders as long ago as the 3rd and 2nd millennia BC, respectively.

The first life insurance policies were taken out in the early 18th century.

The first company to offer life insurance was the Amicable Society for a Perpetual Assurance Office, founded in London in 1706 by William Talbot and Sir Thomas Allen.

There are different kinds of insurance like Health Insurance, Auto insurance, Fire insurance, Property insurance, etc to protect against varied risks.

However insurance is divided into two broad Categories:
1.) Life Insurance
2.) General Insurance

History of Insurance in India :

In India, insurance has a deep-rooted history. It finds mention in the writings of Manu (Manusmrithi), Yagnavalkya (Dharmasastra) and Kautilya (Arthasastra).

The writings talk in terms of pooling of resources that could be re-distributed in times of calamities such as fire, floods, epidemics and famine.

This was probably a pre-cursor to modern day insurance. Ancient Indian history has preserved the earliest traces of insurance in the form of marine trade loans and carriers’ contracts.

Insurance in India has evolved over time heavily drawing from other countries, England in particular.


Last updated on: 02/10/2019

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History of General Insurance in India


This sector covers almost everything related to property, vehicle, cash, household goods, health and also one's liability towards others.

The history of general insurance business in India can be traced back to Triton Insurance Company Ltd. (the first general insurance company) which was formed in the year 1850 in Kolkata by the British.

The major segments covered under general Insurance Policy India are:
a. Home Insurance
b. Health Insurance
c. Motor Insurance
d. Travel Insurance

Important timelines in the Indian General insurance :

1850 : General Insurance in India has its roots in the establishment of Triton Insurance Company Ltd., in Calcutta by the British.
1907 : Indian Mercantile Insurance Ltd, was set up. This was the first company to transact all classes of general insurance business.
1957 : the formation of the General Insurance Council, a wing of the Insurance Association of India. It framed a code of conduct for ensuring fair conduct and sound business practices.
1968 : the Insurance Act was amended to regulate investments and set minimum solvency margins. The Tariff Advisory Committee was also set up then.
1971 : The General Insurance Corporation of India was incorporated as a company and it commence business on January 1st 1973.
1972 : General Insurance Business (Nationalization) Act was passed and general insurance business was nationalized with effect from 1st January, 1973.

107 insurers were grouped into four companies, namely :
1.) National Insurance Company Ltd.,
2.) The New India Assurance Company Ltd.,
3.) The Oriental Insurance Company Ltd and
4.) The United India Insurance Company Ltd.
1990s: The process of re-opening of the sector had began and the last decade and more has seen it been opened up substantially.
1993 : the Government set up a committee under the chairmanship of RN Malhotra, former Governor of RBI, to propose recommendations for reforms in the insurance sector.

The objective of Malhotra committee was to complement the reforms initiated in the financial sector.

The committee submitted its report in 1994 and recommended that the private sector be permitted to enter the insurance industry, preferably in a joint venture with Indian partners.
1999 : Following the recommendations of the Malhotra Committee report, in 1999, the Insurance Regulatory and Development Authority (IRDA) was constituted.
2000 : IRDA opened up the market with the invitation for application for registrations. Foreign companies were allowed ownership of up to 26% .
2000 : Subsidiaries of the General Insurance Corporation of India were restructured as independent companies and GIC was converted into a national re-insurer.
2002 : Parliament passed a bill de-linking the four subsidiaries from GIC.


Last updated on: 02/10/2019

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Security Printing and Minting in India


The Security Printing & Minting Corporation of India Ltd. (SPMCIL) is a Mini-Ratna Central Public Sector Enterprise (CPSE).

It is a wholly owned by Government of India Schedule "A" Company of the Government of India and was incorporated on 13 January 2006 with its registered office at New Delhi.

The Corporation is engaged in the manufacture / production of Currency and Bank Notes, Security Paper, Non-judicial Stamp Papers, Postal Stamps & Stationery, Travel Documents viz., Passport and Visa, Security Certificates, Cheques, Bonds, Warrants, Special Certificates with Security Features, Security Inks, Circulation & Commemorative Coins, Medallions, Refining of Gold, Silver and Assay of Precious Metals, etc.

The company was formed in 2006 as the result of corporatisation of security presses and mints functioning under the Indian Ministry of Finance. It contains nine units which have four mints, four presses and a paper mill.

The Corporation was incorporated by taking over two security presses at Nashik and Hyderabad, two currency note presses at Dewas and Nashik, four mints at Mumbai, Kolkata, Hyderabad and Noida and one security paper mill at Hoshangabad which were working under the direct administrative control of the Ministry of Finance and the Department of Economic Affairs.

Currency Printing Presses :

SPMCIL consists of two currency printing presses: the Currency Note Press (CNP) in Nashik and the Bank Note Press (BNP) in Dewas.
The two units are engaged in production of bank notes for India as well as a few foreign countries including Iraq, Nepal, Sri Lanka, Myanmar and Bhutan. More than 40% of Currency Notes circulated in India are printed by the two units.
The Currency Note Press (CNP) was established in 1928 as the first printing press for bank notes in India. They are currently responsible for the printing of the new 500 rupee notes following the demonetisation of the old 500 rupee and 1000 rupee note.
Currency is also printed by the two presses of Bharatiya Reserve Bank Note Mudran Private Limited, a wholly owned subsidiary of Reserve Bank of India.
They are currently responsible for the printing of the new 2000 rupee notes, and speculations suggest that the printing of the 500 rupee notes will also shift to these presses for better speed and fewer errors.
Bank Note Press (BNP) also has an ink factory that produces ink for security printing.

Security Printing Presses :

There are two Security printing presses of SPMCIL, namely the India Security Press (ISP) at Nashik and Security Printing Press (SPP) at Hyderabad.
These presses print the 100% requirement of passports and other travel documents, non-judicial stamp papers, cheques, bonds, warrants, postal stamps and postal stationery and other security products.
The Security Printing Presses have the capability of incorporating security features like chemically reactive elements, various Guilloche patterns, micro lettering, designs with UV inks, bi-fluorescent inks, optical variable inks, micro perforation, adhesive/glue, embossing, die-cutting and personalization, etc.

Mints :

SPMCIL comprises four units of India Government Mint located in the cities of Mumbai, Kolkata, Hyderabad and Noida.
These mints produce circulation coins, commemorative coins, medallions and bullion, as required by the Government of India.

Paper mill :

Security Paper Mill was established in 1968 at Hoshangabad, Madhya Pradesh.
It produces papers for banknotes and non–judicial stamps and further prints with new enhanced unit.
Bank note paper mill India private limited prints paper for Indian currency and located in Mysore.

Gist of Printing and Mints :

1. India Security Press (Nasik Road) –– Postal Material, Postal Stamps, Non-postal Stamps, Judicial and Non-judicial Stamps, Cheques, Bonds, NSC, Kisan Vikas Patra, Securities of State Governments, Public Sector Enterprise and Financial Corporations.

2. Security Printing Press (Hyderabad)–Established in 1982 for meeting the demand for postal material by Southern States. It also fulfills the demand for Union Excise Duty Stamps of the Country.

3. Currency Notes Press (Nasik Road)–Since 1991, this press prints currency notes of Rs. 1, Rs. 2, Rs. 5, Rs. 10, Rs. 50, and Rs. 100. (Earlier printing of Rs. 50 and Rs. 100 currency notes was not done here). They are currently responsible for the printing of the new 500 rupee notes following the demonetisation of the old 500 rupee and 1000 rupee note.

4. Bank Notes Press (Dewas)–Currency notes of Rs. 20, Rs. 50, Rs. 100 and Rs. 500 are printed here.

5. Modernised Currency Notes Press–Two new modernised currency notes press are under establishment at Mysore (Karnataka) and Salboni (West Bengal).

6. Security Paper Hoshangabad (Established in 1967-68) makes production of Bank and Currency notes paper.

7. Coins are minted at four places–Mumbai, Kolkata, Hyderabad and Noida.


Last updated on: 02/10/2019

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Important Points on Currency


1) At first, the standard currency used in the world and History are:
    a.) U.S.A - Tobacco
    b.) Africa - Tusks
    c.) India - Sea Shells
    d.) Romans - Besant
    e.) Mouryas - Panna, Copper, Brass.

2) In India, Mohammad-Bin-Tuglak introduced copper coins as a standard currency. Then all houses became "mints". So, coins printing place are called mints.

3) In India, there are 4 places to mint coins. They are : Hyderabad, Mumbai, Kolkata and Noida.

4) In 7th century, Chinese introduced paper currency in the world.

5) Britishers introduced paper currency in India in 1882.

6) From April 1st, 1957, India is following Decimal system Currency.

7) First Paisa came out in March 1962.

8) First Rupee came out in July 1962.

9) In India, Rupee is unlimited legal tender and Coins are limited legal tender.

10) RBI prints new currency when it gets 115 crore worth gold and 85 crore foreign currency.

11) In India, Currency was erased by RBI in 1961 and 1978 to check Black Money.

12) RBI doesn't prints one rupee note.

13) Parliamentary Bhavan gives suggestions in the printing of "50 paisa " and 50 rupee notes.

14) Finance Ministry in India has been printing "One rupee" notes.

15) Finance Secretary signs on the one rupee notes.

16) All the currency notes are signed by RBI Governor except one rupee note (Finance Secretary)

17) Banknotes in the Mahatma Gandhi Series were introduced in 1996 and were issued in a phased manner in the denominations of Rs.5, Rs.10, Rs.20, Rs.50, Rs.100, Rs.500 and Rs.1000.

18) England started paper currency in 1864.

19) Australia introduced plastic currency in 1988 ( Ten dollar notes)

20) RBI decided to print plastic currency of 10 rupee notes.

21) The Indian rupee symbol is the fifth currency in the world to have a distinct identity designed by D Udaya Kumar. It is a perfect blend of Indian and Roman letters: a capital 'R', and Devanagari 'ra', which represent rupiya, to appeal to international and Indian audiences.


Last updated on: 02/10/2019

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Banking & Economy



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2011 Population Census of India



The 15th Indian National census was conducted in two phases, houselisting and population enumeration. Houselisting phase began on April 1, 2010 and involved collection of information about all buildings.

The second population enumeration phase was conducted between 9 to 28 February 2011. Census has been conducted in India since 1872 and 2011 marks the first time biometric information was collected.

According to the provisional reports released on March 31, 2011, the Indian population increased to 1.21 billion with a decadal growth of 17.64%.

Adult literacy rate increased to 74.04% with a decadal growth of 9.21%.

The cost of the was in the region of 2,200 crore (US$490.6 million) – this comes to less than $ 0.5 per person, well below the estimated world average of $4.6 per person.

Important Points
Population Growth Rate for period(2001 - 11) - 17.64%

Density of Population - 382 / sqKm

Most Populous State - Uttar Pradesh.

Least Populous State - Sikkim

Most Populous Union Territory - Delhi.

Least Populous Union Territory - Lakshadweep

Most Densely Populated State - Bihar ( 1102 / Square Kilometer )

Least Densely Populated State - Arunachal Pradesh ( 17 / Square Kilometer )

India's Sex Ratio - 940

State with highest sex ratio  - Kerala.

State with Lowest sex ratio State - Haryana. 

Literacy Rate - 74.04%

State with highest Literacy Rate - Kerala. ( 93.91% )

State with Lowest Literacy Rate - Bihar ( 63.82%)

Census report

Population
Total 1,210,193,422
Males 623,724,248
Females 586,469,174

Literacy
Total 74.04%
Males 82.14%
Females 65.46%
Density of population per km2 382
Sex ratio per 1000 males 940 females
Child Sex ratio (0-6 age group) per 1000 males 914 females

Literacy
Any one above age 7 who can read and write in any language with an ability to understand was considered a literate. In censuses before 1991, children below the age 5 were treated as illiterates.

Effective literacy rate increased to a total of 74.04% with 82.14% of the males and 65.46% of the females being literate.

Census year Total (%) Male (%) Female (%)
1901 5.35 9.83 0.60
1911 5.92 10.56 1.05
1921 7.16 12.21 1.81
1931 9.5 15.59 2.93
1941 16.1 24.9 7.3
1951 16.67 24.95 7.93
1961 24.02 34.44 12.95
1971 29.45 39.45 18.69
1981 36.23 46.89 24.82
1991 42.84 52.74 32.17
2001 64.83 75.26 53.67
2011 74.04 82.14 65.46
  • The table lists the "crude literacy rate" in India from 1901 to 2011.

Last updated on: 30/09/2019

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Poverty


Poverty is the lack of basic human needs, such as clean and fresh water, nutrition, health care, education, clothing and shelter, because of the inability to afford them

Poverty is widespread in India, with the nation estimated to have a third of the world's poor.

According to a 2005 World Bank estimate, 41% of India falls below the international poverty line of US$ 1.25 a day (PPP, in nominal terms Indian Rupee 21.6 a day in urban areas and Indian Rupee 14.3 in rural areas) having reduced from 60% in 1981.

Since the 1950s, the Indian government and non-governmental organizations have initiated several programs to alleviate poverty, including subsidizing food and other necessities, increased access to loans, improving agricultural techniques and price supports, and promoting education and family planning.



Poverty Line:
The poverty threshold, or poverty line, is the minimum level of income deemed necessary to achieve an adequate standard of living in a given country

Determining the poverty line is usually done by finding the total cost of all the essential resources that an average human adult consumes in one year.



Poverty Types
1) Absolute Poverty
2) Relative Poverty

Absolute Poverty: Measures with the poverty line, the level of income or expenditure of the people below the poverty line.

Relative Poverty: Shows the relative levels of poverty by comparing the levels of income and expenditure of top 5 to 10% of the population.



Amartyasen prepared Povert Index to know the status of poor people ,how far from poverty line.



As per 1968 Dietitians report, the minimum required Calories for a person per day is :
2100 K.Cal in Urban areas and
2400 K.Cal in Rural areas

In 2004-05 the availability of K.Cal in Rural areas are 2047 K.Cal



According to National Sample Survey Organisation Report,

Hight Poverty is in - Odissa

Lowest povert is in - Punjab


Rural poverty


Basic reasons of rural poverty in India are:
  • Unequal distribution of income.
  • High population growth.
  • Illiteracy.
  • Large families.
  • Caste system.

Problems Of Rural Poverty:
  • Presence of malnutrition, illiteracy, diseases and long term health problems.
  • Unhygienic living conditions, lack of proper housing, high infant mortality rate, injustice to women and social ill-treatment of certain sections of society.

Steps Taken by Government to Reduce Rural Poverty:

The government of India has been trying its best to remove poverty. Some of the measures which the government has taken to remove rural poverty are:
  • Small farmer’s development Programme.
  • Drought area development Programme.
  • Minimum needs Programme.
  • National rural employment Programme.
  • Assurance on employment.
  • Causes for Urban Poverty.

Urban Poverty


Causes for Urban Poverty

The causes of urban poverty in India are:
  • Improper training
  • Slow job growth.
  • Failure of PDS system
Problems Of Urban Poverty
  • Restricted access to employment opportunities and income.
  • Lack of proper housing facilities
  • Unhygienic environments
  • No social security schemes
  • Lack of opportunity to quality health and educational services.

The steps taken by government to remove urban poverty are
  • Nehru Rozgar Yojna.
  • Prime Minister Rozgar Yojna.
  • Urban Basic services for the poor Programme.
  • National social Assistance Programme.

Poverty Eradication Programmes in India



Small farmer’s development Programme.

Drought area development Programme.

Minimum needs Programme.

National rural employment Programme.

Nehru Rozgar Yojna.

Prime Minister Rozgar Yojna.

Urban Basic services for the poor Programme.

National social Assistance Programme.

Community Development Programme - 1952 - Overall development of rural areas with people’s participation.

Intensive Agriculture Development Programme - 1960-61 - To provide loan, seeds, fertilizer, tools to the farmers.

Employment Guarantee Scheme of Maharashtra - 1972-73 - To assist the economically weaker section of the rural society.

Twenty Point Programme - 1975 - Poverty eradication and raising the standard of living.

Food for work Programme - 1977-78 - Providing food grains to labour for the work of development.

National Rural Employment Programme - 1980 - To provide profitable employment opportunities to the rural poor.

Development of women & children in Rural Areas - 1982 - To provide suitable opportunities of self-employment to the women belonging to the rural families who are living below the poverty line.

Rural Landless Employment Guarantee Programme - 1983 - For providing employment to landless farmers & labourers.

Self-employment of the Educated Unemployed Youth - 1983-84 - To provide financial and technical assistance for self-employment.

Council for Advancement of People’s Action & Rural Technology - 1986 - To provide assistance for rural prosperity.

Self-Employment programme for the Urban poor - 1986 - To provide self employment to urban poor through provision of subsidiary and bank credit.

Jawahar Rozgar Yojana - 1989 - To provide employment to rural unemployed.

Nehru Rozgar Yojana - 1989 - To provide employment to urban unemployed.

Scheme for Urban Micro Enterprises - 1990 - To assist the urban poor for small enterprises.

Scheme for Urban Wage Employment - 1990 - To provide wages employment after arranging the basic facilities for poor people in the urban areas where population is less than one lakh.

Scheme for Housing and Shelter Up-gradation - 1990 - To provide employment by means of shelter up-gradation in the urban areas where population is between 1 to 20 lakhs.

Employment Assurance Scheme - 1993 - To provide employment of at least 100 days in a year in villages.

Swaran Jayanti Shahri Rozgar Yojana - 1997 - To provide gainful employment to urban unemployed and under employed poor through self employment or wage employment.

Swarna Jayanti Gram Swarozgar Yojana - 1999 - For eliminating rural poverty and unemployment and promoting self employment.

Pradhan Mantri Gram Sadak Yojana - 2000 - To line all villages with Pacca road.

Sampurna Gramin Rojgar Yojana - 2001 - Providing employment & food security.

Jai Prakash Narain Rozgar Guarantee Yojana - 2002-3 - Employment guarantee in most poor districts.

Rural Employment Guarantee Yojana - 2005-6 - 100 days assured employment.


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Unemployment


Unemployment occurs when people are without jobs and they have actively looked for work within the past four weeks.

The unemployment rate is a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force.

The National Sample Survey Organization (NSSO) has 3 concepts of unemployment:
1. Chronic Unemployment
2. Weekly Unemployment
3. Daily Status Unemployment


Types of unemployment:
Structural unemployment – in such a situation the productive capacity is inadequate.
Seasonal unemployment - such as that affecting the rain-fed agricultural farmers who remain out of work for four to six months in a year.
Open unemployment – their is a migration of people from rural areas to urban areas in search of work.
Frictional unemployment – generation of unemployment due to change in market conditions.
Disguised unemployment – a situation in which more persons are involved in a certain job than needed in which case the marginal productivity of labour is 0.


Features of unemployment

1. The incidence of unemployment is much higher in urban areas than in rural areas.

2. Unemployment rates for women are higher than those for men.

3. The incidence of unemployment among the educated is much higher than the overall unemployment.

4. There is greater unemployment in agricultural sector than in industrial and other major sectors.


Types of Unemployment


Economists and social thinkers have classified unemployment into various types.

Generally unemployment can be classified in two types:

(1) Voluntary unemployment
(2) In voluntary unemployment

Voluntary unemployment
In this type of unemployment a person is out of job of his own desire doesn't work on the prevalent or prescribed wages. Either he wants higher wages or doesn't want to work at all.

It is in fact social problem leading to social disorganization. Social problems and forces such as a revolution, a social upheaval, a class struggle, a financial or economic crisis a war between nations, mental illness, political corruption mounting unemployment and crime etc. threaten the smooth working of society. Social values are often regarded as the sustaining forces of society.

They contribute to the strength and stability of social order. But due to rapid social change new values come up and some of the old values decline. At the same time, people are not is a position to reject the old completely and accept the new altogether. Here, conflict between the old and the new is the inevitable result which leads to the social disorganization in imposed situation. In economic terminology this situation is voluntary unemployment.

In voluntary unemployment
In this type of situation the person who is unemployed has no say in the matter. It means that a person is separated from remunerative work and devoid of wages although he is capable of earning his wages and is also anxious to earn them.

Forms and types of unemployment according to Hock are:

1. Cyclical unemployment - This is the result of the trade cycle which is a part of the capitalist system. In such a system, there is greater unemployment and when there is depression a large number of people are rendered unemployed. Since such an economic crisis is the result of trade cycle, the unemployment is a part of it.

2. Sudden unemployment - When at the place where workers have been employed there is some change, a large number of persons are unemployed. It all happens in the industries, trades and business where people are employed for a job and suddenly when the job has ended they are asked to go.

3. Unemployment caused by failure of Industries - In many cases, a business a factory or an industry has to close down. There may be various factors responsible for it there may be dispute amongst the partners, the business may give huge loss or the business may not turn out to be useful and so on.

4. Unemployment caused by deterioration in Industry and business - In various industries, trades or business, sometimes, there is deterioration. This deterioration may be due to various factors. In efficiency of the employers, keen competitions less profit etc. are some of the factors responsible for deterioration in the industry and the business.

5. Seasonal unemployment - Certain industries and traders engage workers for a particular season. When the season has ended the workers are rendered unemployed. Sugar industry is an example of this type of seasonal unemployment.


Employment & Development Programmes


Community Development Programme - 1952 - Overall development of rural areas with people’s participation.

Intensive Agriculture Development Programme - 1960-61 - To provide loan, seeds, fertilizer, tools to the farmers.

Employment Guarantee Scheme of Maharashtra - 1972-73 - To assist the economically weaker section of the rural society.

Twenty Point Programme - 1975 - Poverty eradication and raising the standard of living.

Food for work Programme - 1977-78 - Providing food grains to labour for the work of development.

National Rural Employment Programme - 1980 - To provide profitable employment opportunities to the rural poor.

Development of women & children in Rural Areas - 1982 - To provide suitable opportunities of self-employment to the women belonging to the rural families who are living below the poverty line.

Rural Landless Employment Guarantee Programme - 1983 - For providing employment to landless farmers & labourers.

Self-employment of the Educated Unemployed Youth - 1983-84 - To provide financial and technical assistance for self-employment.

Council for Advancement of People’s Action & Rural Technology - 1986 - To provide assistance for rural prosperity.

Self-Employment programme for the Urban poor - 1986 - To provide self employment to urban poor through provision of subsidiary and bank credit.

Jawahar Rozgar Yojana - 1989 - To provide employment to rural unemployed.

Nehru Rozgar Yojana - 1989 - To provide employment to urban unemployed.

Scheme for Urban Micro Enterprises - 1990 - To assist the urban poor for small enterprises.

Scheme for Urban Wage Employment - 1990 - To provide wages employment after arranging the basic facilities for poor people in the urban areas where population is less than one lakh.

Scheme for Housing and Shelter Up-gradation - 1990 - To provide employment by means of shelter up-gradation in the urban areas where population is between 1 to 20 lakhs.

Employment Assurance Scheme - 1993 - To provide employment of at least 100 days in a year in villages.

Swaran Jayanti Shahri Rozgar Yojana - 1997 - To provide gainful employment to urban unemployed and under employed poor through self employment or wage employment.

Swarna Jayanti Gram Swarozgar Yojana - 1999 - For eliminating rural poverty and unemployment and promoting self employment.

Pradhan Mantri Gram Sadak Yojana - 2000 - To line all villages with Pacca road.

Sampurna Gramin Rojgar Yojana - 2001 - Providing employment & food security.

Jai Prakash Narain Rozgar Guarantee Yojana - 2002-3 - Employment guarantee in most poor districts.

Rural Employment Guarantee Yojana - 2005-6 - 100 days assured employment.


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