An Educational Blog
Digital transaction: ___ ____ Prologue: History of banking dates back to 2000 B.C. Archaeologists believe that depositing and lending have always been human way of business and economy during renowned Roman, Chinese, and Indian empires. In fact, if we really think about it, there can actually be no trusted way of keeping earned money safe to be used when required other than a trusted group that also provides interest on such deposits. From that time banks and their ways have evolved tremendously. Computing revolution has been the biggest step forward here. For what was confined to signatures and psychical presence, has now been replaced by plastic money and virtual presence. John Shepherd-Barron, the Scotsman is credited with inventing the world’s first automated cash machine. Shepherd-Barron said once that he came up with the idea of the cash machines after being locked out of his bank. Plastic bank cards had not […]
_ GREED: _ ____ Prologue: Some years ago, they asked convicted bank robber Willie Sutton why he robbed banks. He answered simply, “Because that is where the money is!” I believe that in all too many cases; if you examined the motivation of many of the politicians for seeking public office, the answer might well be: “Because that is where the money is!” The IPL betting and spot-fixing scandal has put India’s cricket establishment in the dock and left fans wondering whether the sport will ever regain its lost image as a gentleman’s game. Many international cricketers have gone to jail for match/spot fixing and anything on cricket field can be orchestrated by bookies for whom the smell of money and more & more money is more fragrant than all the legendary scents. Robert and Edward Skidelsky, in their book, ‘How much is enough?’ hold the view that wealth is […]
ECONOMY FOR PEOPLE: Prologue: Despite being an intelligent doctor, I could not become rich because I did not compromise between my way of thinking and the thinking of others in my environment no matter whether others include spouse or family members or patients or friends or courts. I could not become corrupt no matter how many opportunities came in life. I know of many doctors who became rich by simply buying and selling lands rather than medical acumen but I could not even do that. I was perceived to be weak in economics by both friends and foes alike. I work in government hospital on contract basis and get rupees 30,000 per month as salary wages. I earn this money because I got MD degree and 23 years of experience in treating human illnesses. The money is paid by the people of India. Do all the people pay? No. […]
CORRUPTION AND BLACK MONEY IN INDIA: Corruption is defined as an abuse of public power for private gains in which an official transfers a benefit to an individual who may or maynot be entitled to the benefit; in exchange for an illegal payment/gift/favour which is known as the bribe. Black money is defined as a money which is not accounted for in the official records,either earned through legitimate sources without paying income tax or through illegal activities. Sources of black money: 1)corruption 2)drug trafficking 3)arms trafficking 4)gambling 5)counterfeiting 6)prostitution and pornography. Corruption are of 2 types;petty corruption and grand corruption. Petty corruption means common people have to pay bribe to small officials to get security,justice,health,education,water,electricity,ration etc etc…Almost 100 percent indian people pay for petty corruption. Grand corruption means involvement of Ministers,MPs.MLAs,Bureaucrates and big businessmen who are involved in award of big contracts. Why corruption??? Corruption basically means dishonesty which is […]
Designed by @fraz699.