New Ideas in Lighting Get Closer to Market Research Paper

New Ideas in Lighting Get Closer to Market - Research Paper Example The scope of saving energy and the techniques required may vary from place to place but it is regarded switching to more eco-friendly and energy efficient source as it helps in reducing the CO2 emissions by a significant number (CARDWELL, 2014). Adapting to energy efficient sources usually costs more money up-front but in many cases the capital outlay will be paid back in the form of reduced energy costs within a short period of time. This makes switching to energy efficient sources more attractive and budget friendly. In order to conserve and save energy in terms of light bulbs, green lights are the most efficient option available today to save more energy. Incandascent bulbs have been the mainstream bulbs we have known. Incandescent use more electricity during the process of production of heat hence they are short-lived and need constant replacement. Usually homeowners would argue that energy saver lights such as the LED and other energy saver bulbs or energy saver light bulbs are less expensive than ever before and provide superior light quality, and quickly payback in the form of saving energy and reducing replacement costs. LED lights are more affordable and flexible now. These incredibly efficient and technologically advanced lights will be the lights used in future. There are other lights bulbs which are also energy efficient, such as the CFL (compact florescent lights), which have come a long way and can be fitted into the same socket as the incandescent bulbs (smartandgreen.eu, 2014). This is the most common type of lighting in homes, owing to the fact that it is affordable and comes in a vast range of sizes, shapes, and wattages. The drawback of these bulbs, however, is that they are inefficient. They produce light by heating a solid material until that material produces a glow. In the process, much energy is consumed as a result of the heat that is produced. As a

Real Experience for Real Teen Drivers Essay Example for Free

Real Experience for Real Teen Drivers Essay Young drivers lack experience in driving situations that will occur outside of the mandatory, cookie cutter training they complete during the time of holding their learners driving licenses. The lack of inexperience plays a major role in teen car accident fatalities and injuries. Whitelegg (1987) has shown â€Å"The United States alone is in running of about 50,000 deaths a year from teen-driving fatalities. In terms of years of life lost, road traffic accidents are the major exterminator of unexpired years† (p. 161-176. This evidence is enough to question what steps should be taken, in addition the procedures that already in place, to help prevent such fatalities with young drivers today. Both parents and The Department of Driver Services are proactive by acting to insure new license holders are prepared for the responsibilities that come with driving a vehicle. Parents sign their children up for different types of driving courses where the students are taught the basics of how to operate a vehicle, when to use different signals, and the laws of the road. The Department of Driver Services enforces the same standards as most driving courses, in addition to a hand written test on driving procedures and requiring new drivers to have a certain amount of hours recorded driving in both daylight and at night. Most states also have laws regarding age limits for driving and talking on the phone and no texting and driving laws for all ages. Though these standards and laws are a positive beginning for any new driver, they simply do not provide the driver with the real world experience he will face while driving alone. Teen drivers can and will be taught the rules and laws that go with driving; however, teens cannot always be monitored while driving vehicles alone and will not always follow the regulations that have the taught. This requires additional training to encourage new drivers to abide by the laws and rules, but also provides the teens with the experience to safely conduct any type of multi- Real Experience for Real Teen Drivers tasking the driver may engage in; such as answering phone calls, eating, or conversing and listening to the radio all while driving. In order to reduce the fatalities related to young adult car crashes, young drivers’ experiences with driving a vehicle need to be expanded through practice of driving while preforming other actions. Once a teen turns fifteen and receives their learning licenses, the mandatory standard requirements, driving courses and written test, will be conducted and completed within the first three months of possessing their licenses. In the following 9 months teens will continue to be required to record the numbers of hours drove at night and during the day, with an extension of a multitasking while driving check list. The addition of the multitasking checklist will allow instructors or the adults in the vehicle, to monitor the multitasking actions of the driver and teach safe alternatives or more safe ways to carry out the task. The multitasking check lists will include many different tasks, including focuses regarding talking and texting on the phone, conversing with peers, and eating while driving. These distractions are the commonly used among people of all ages. The observer of the driver will have them drive through a fast food restaurant to order meals, and encouraged to order a meal that is easy to handle. Once the meal is order, the driver will be instructed on safer alternatives to handle eating while driving; such as preparing your meal in the parking lot so there less distractions while driving. Interacting with friends is hard to avoid without being rude. It is common to want look at the person speaking while driving or even do hand gestures as you would in a conversation that is not taken place in a vehicle. The instructor should carry on Real Experience for Real Teen Drivers conversation with the driver, but explain the common gestures are not necessary. The driver will be allowed to take phone calls as the observer offers suggestions on how to answer safely, such as placing the phone on speaker to keep both of your hands free to maneuver the vehicle. If responding to a text message is a must, call the person on speaker phone or wait until you have come to a complete stop. These are all task which would normally not be taught, however as used on a daily basis. As Bower (2008) explained,† multitasking puts high demands on the brain that reduces activity regions that coordinate driving behavior; driving is the less-ingrained skill and often takes a neutral hit† (p. 7); thus more experience is a must. We must keep encouraging young drivers to abide by the laws, but we are not able to insure all young drivers will. The addition of recording and allowing young drivers to complete other actions during maneuvering as vehicle, will give new licenses holders the more ingrained skill of safely coordinating driving behavior with multitasking. Once these safer alternatives are taught, it is sure the driving fatalities of young adults in the United States will drop drastically over the following five years. Parents and driver services cannot be sure that teens will follow the laws once they are no longer in the supervision of an adult , although they can feel secure in the fact that teens have been taught how to make safe decisions while multitasking and driving vehicles. By introducing drivers to the hazards of multitasking and driving, while under adult’s supervision, allows teens to receive guidance on how to safely conduct actions if the driver chooses to not focus all of their attention to driving. Young lives can be saved and fatalities Real Experience for Real Teen Drivers caused by car crashes can be prevented by allowing new drives to gain valuable experience in the driver’s seat of a vehicle.

Clash Of The Titans | Film Review

Clash Of The Titans | Film Review The film Clash of the Titans (2010), directed by Louis Leterrier, is a serious battle for power between men and kings, and kings and gods. However, the battle of gods themselves could devastate the world. Perseus (Sam Worthinfton), a demigod brought up as a man, is powerless to put away his family from Hades (Ralph Fiennes), the unforgiving god of the underworld, who feeds himself from human fear. Perseus put himself upfront to organize a dangerous mission to defeat Hades before he could overthrow Zeus (Liam Neeson) and expose hell on earth. Leading a group of courageous men, Perseus heads off on a dangerous journey into the heart of forbidden worlds. Fighting with worldly demons and fearsome beasts, he will only go beyond this challenge once he recognizes his power as a god and disregards his fate and create his own destiny. The film begins with a narration portraying the three Olympians who fought the Titans in the past: Zeus, Poseidon (Danny Huston) and Hades. Hades showed their way of conquering the Titans with his own creation, the Kraken, a giant sea monster. After the fall of the Titans, Zeus created humans and lead them while Poseidon governs the sea, On the other hand, Hades who have been betrayed by his brother Zeus, was forced to lead the Underworld and discovers an unusual way to have his power from humans that was different from his brothers gaining theirs from prayers. For him, he can obtain power through human fear. Thousand years later, Spyros (Pete Postlethwaite), a fisherman, comes across with a coffin floating in the sea, where he found a baby, Perseus, lies together with his dead mother, Danae. The fisherman comes to a decision of bringing up Perseus as his own son. Years passed, Perseus and his family are in the sea, fishing together when they saw a group of soldiers from the army of Argos tearing down a statue of Zeus as a proclamation of war against the gods. Hades reveals himself and orders harpies to kill the soldiers. Moreover, as he sees the fishing boat of the family of Perseus, he also destroyes it and sinks into the middle of the sea. As Perseus tries to rescue his family, without any reason, the surviving soldiers of Argos detain Perseus back to their homeland. During the feast for the soldiers who survived the battle, King Cepheus (Vincent Regan) and Queen Cassiopeia (Polly Walker) of Argos are differentiating themselves together with their daughter, Andromeda (Alexa Davalos), t o the gods to protect their kingdom. Moreover, after persuading his brother to loose the monster on humankind to reprimand them for their disobedience, Hades shows himself in the courtroom before executing the remaining soldiers while Perseus is untouched. Hades reveals that Perseus is a demigod son of Zeus. He also warns that if Princess Andromeda is not sacrificed to the Kraken, Argos will be devastated in ten days. Hermes (Alexander Siddig), the messenger of god, comes up to Zeus on Olympus to reveal where his son Perseus is. While Hermes recommends giving Perseus a safe haven, Zeus proclaim that he shall have his own fate together with the other mortals. The king asks for the help of Perseus after he is imprisoned. Perseus refuses at first until he meets Io (Gemma Arterton), a woman whose not growing old as a reprimand for refusing to be seduced by a god. Io then tells him about his origin and the punishment done by Zeus on Acrisius (Jason Flemyng), the former king of Argos, who was married to Danae, for opposing the gods. Acrisuis immediately orders the death of Danae and the baby Perseus after her giving birth. He decides to have them in the coffin float into the sea. However, an infuriated Zeus struck Acrisius with lightning, resulting to a dreadful damage to him. As Io finished her story and after knowing that defeating the Kraken will let him to have his vengeance with Hades, Perseus agrees together with Argos most formidable soldiers. They are also accompanied by Persian monster-hunters named Ixas (Hans Matheson) and Kucuk (Mouloud Achour), and Io, get on board on a mission to look for the Stygian Witches, the three women with gray skin and have one eye. Into the woods, Perseus and the soldiers discover a sword created in Olympus which will only illustrate its true power in the hands of Perseus. Wandering away from the group, Perseus runs into Zeus sacred herd of flying horses, the Pegasus. On the other hand, Perseus turns down the gods offering- the sword and the pure-black Pegasus, as he doesnt want to be a god. As per the order of Hades, Calibos attacks the group of Perseus and tries to take his life. Number of soldiers was killed in this act but Calibos failed to murder Perseus, and loses his hand before he can get away. But the drop of Calibos blood develops giant scorpions from the sand, which then attack Perseus and his men. Though the group was able to kill several scorpions, many of the soldiers were slain as well, and those who survived faced more monsters to fight with. Perseus and his group were saved by Djinn, a bunch of desert sorcerers who were humans before but changed their human flesh with ash and dark magic. The Dj inn were able to put the scorpions under their spell. Helping Perseus to heal his wounds, Sheikh Suleiman (Ian Whyte) Djinn leader, decided to join Perseus group to witness the gods obliteration of Argos. These brave men reached the Garden of Stygia, wherein they gathered information, from the Stygian Witches, that the head of the Gorgon Medusa (Natalia Vodianova) has the power to kill the Kraken, with the risk that they might be slain in the process. As they continue their journey, Zeus got to see Perseus to offer him a sanctuary at Mount Olympus, but still, Perseus refuses the offer. Instead, Zeus gives him a golden drachma, which he learns to be a means to buy off Charon for a way to the Underworld. On the other hand, Io was left outside of Medusas den, where a spell was cast that no women will be able to enter the area. Perseus, together with the remaining soldiers, gives all their strength to stay alive, but one by one, they turn into stone with her gaze. With Suleiman self-destructing himself and the sacrifice of Draco (Mads Mikkelsen), Perseus is able to behead Medusa. He came out in time to witness how Calibos kill Io by thrusting a sword from behind. Perseus challenges Calibo s in a battle and kills him with the sword given to him by the gods, which transforms Calibos back to his human form. As Acrisius draws in his final breath, Hades power leaves him and tells Perseus to refuse to be a god. Perseus stays with Io until she passes on, then rides on to Pegasus and prepares himself back to Argos with Medusas head. At the same time, some of Argoss citizens founded a cult of Hades, who is planning to sacrifice Princess Andromeda to the Kraken, in opposition to the kings wishes. Hades enlightens Zeus that the fall of Argos will bestow him enough power to remove the other Olympians from power. He then left Zeus defenseless to guarantee his triumph. On his way to Argos, Hades sends out his harpies to obstruct Perseus way back to Argos. Perseus overcomes the number of harpies sent by Hades and let the Kraken met the gaze of Medusa which turns the monster into stone. During this upheaval, King Cepheus was killed by the cult leader and has been crushed under the debris of the broken body of stoned Kraken. Hades shows up and scorns Perseus that he cannot kill him, since he is a god. Perseus snaps that Hades can live forever but it will not be in the world of men. He then uses the sword to send away Hades back to the Underworld. After saving Argos from destruction, Princess Andromeda advocates that Perseus should be the king and rule Argos at her side. Zeus gives Perseus a visit and offers to make him a god. Perseus declined both propositions. Zeus then advised Perseus that when Hades gathers enough fear from humankind, he will arise and return to rule the world in darkness. But Perseus will be prepared enough to stop Hades for the s econd time since he has all his intention of staying on Earth. With this, Zeus brings Io back to life, and the two rejoice while Pegasus flies above them. COMMENTARY ON THE FILM: CLASH OF THE TITANS (2010) The movie is a remake of the film Clash of the Titans that was aired almost thirty years ago. The first film was produced in 1981 and the new version of the movie is an inadvertently entertaining retelling of a classic Greek mythology. Fanatics of the earlier version of the film will not be in favor of the remake because of their concept of perfection of the original version. Thus, if movie goers will search for the original substance of the movie, they will be dissatisfied. However, for viewers who are searching for simple, enjoyable and exploration loaded with enormous mythological creatures of the original edition they will definitely take satisfaction in this movie directed by Louis Leterrier and distributed by Warner Bros. Picture. As a Turkish person, I chose BM Magazine to publish this review since BM Magazine accepted to publish my article in their May issue. At first, I am encountering problems in conceptualizing the film since many parts of the original version were cut and modify. However, since I was inspired by the movie Avatar which was aired in 3 Dimension (3D), the curiosity grew more as it was aired in more than hundred theaters in UK last month. As I watched this movie, I found out that this was an action-packed movie from beginning to end and I believe that generation of viewers today will be convinced that this film is better than the 1981 film in term of effects and cinematography. Many of us know that the element of Greek mythology is filled with sex, anger, and envy and other shortcomings. The film Clash of the Titans portrays the story of Perseus, son of Zeus- the ruler of the heavens, as he leads the humans in a combat against the gods of Olympus. Particularly, Persues has an unwell will against Hades, brother of Zeus and ruler of the Underworld, since the god killed Perseus adoptive family out of anger. Zeus adores the humans and believes he needs their worship, but Hades disagrees. He thinks that humans, particularly those in Argos, are high and mighty who believes they do not need gods. At the time that Queen Cassiopeia compared her daughter Andromeda, and claims that her daughter is more beautiful than Aphrodite, the gods instigate war on humans to teach them a lesson. The screenwriters, Travis Beacham, Phil Hay, Matt Manfredi felt that political power struggle between the gods was not interesting enough, so the film focused on vengeance. Aside from Zeu s and Hades, no other gods or goddesses are integrated and it seems that their arguments are better to be just a reflection rather than the films driving factor. The writers chose to keep the majority of the elements, order of events and even the dialogues from the original film, but then decided to change certain elements or add characters in the story. From the original movie, characters of Andromeda and Calibos have much greater roles. Also, other characters like Poseidon, Ammon, Pegasus, Hera and Thetis, who played significant roles in the original, have either minimal roles or do not appear in this remake. Some personage have different roles but are in both films like Danae, who is the wife of Acrisuis and mother of Perseus, but from the original film, Danae is the daughter of Acrisuis impregnated by Zeus. With the original film, Perseus love interest is Andromeda, and not Io, whom he married and became the King of Argos, which he declines in the remake. Things that the two films have in common are the attack of the scorpion, the combat with Medusa, and the final with the Kraken, and for Perseus being the son of Zeus. The movie started out as 2-dimensional film, but with the release of the 3-D movie Avatar, the Clash of the Titans was converted to 3-D. According to Director Leterrier, The adaptation to 3-D adds unbelievable depth to each scene, enhancing the chronicle and providing an all-encompassing clash familiarity. There are movies that are intended to be produced in 3-D. However this film was originally intended for 2-D version, but because of the success of Avatar, the director and producer decided to release a new version also intended for viewers who wanted to watch this film in 3-D. This new version in 3-D adds to the excitement but not to the entire effect of the story. The special effects, mostly digital, have been purposely made to gather some with the original film. However, viewers of this film may be perplexed to find the substance of 3-D since the dimensional layer does not agree with the camera. Moreover, the high dimensions of graphics also exposed little to the viewers. Thus, I would recommend to watched the film and in 2D instead of 3D to further appreciate the context of the film. On the other hand, the movie is definitely filled with striking settings and extraordinary creatures. Pegasus, the flying horse, is portrayed beautifully and the massive numbers of scorpions are indisputably frightening. The Kraken, a gigantic sea monster, is less remarkable than the trailer would have you believe. The film was shot in very lavishing scenery. As for the cinematography, it is very vibrant- jumping out and zooming in or out around each character all the way through ravines and desert landscapes. Many of us know that Greek mythology gives emphasis on power, intelligence and beauty of the gods and goddesses. However, the interesting aspect such as beauty is not shown in the new version. Not a single goddess delivered an argument in this film. But still, Io is able to fill the missing part of the movie, showing more reasonable and more likeable female character and love interest than Andromeda. Moreover, I find the movie drew a cast of familiar faces. Sam Worthington showed only one emotion throughout the movie, seriousness, as Perseues, the most important character in the film. Liam Neeson, Ralph Fiennes and Dunny Huston portrayed as the three main Greeks gods: Zeus, hades and Poseidon. Not much participation for Neeson and Huston has very little to do with the movie. Character of Io, played by Gemma Arterton, a woman cursed with agelessness and watch over Perseus through his mission. Alexa Davalos as Andromeda, the princess offered as a sacrifice for the Kraken. In over all, Clash of the Titans is perhaps the first 3-D movie intended to the generation of today. However, it is very hard for me to visualize that this movie will incarcerate wider audience since more of the viewers will undoubtedly attend for its nostalgia value. Moreover, it offers no-frills approach for classical movies with monsters, chaos, and violence abundantly with just enough limits not to over step the leap of the PG-13 rating. For those viewers who will watch this movie in 2D might debate that it harkens back some of the classic fantasy adventure in the middle decades of the 20th century. Thus, I find the movie a flawed but a very entertaining remake of the Greek mythological elements.

Comparing Virtue and Vice in Utopia, The Bible, and Othello Essay

Comparing Virtue and Vice in Utopia, The Bible, and Othello The definition of virtue varies between cultures and societies. Utopian ideas of virtue do not necessarily agree with Biblical or Elizabethan England views, however, More’s "Utopia," the Biblical accounts in Genesis of Joseph and Jacob, and Shakespeare’s "Othello" all present the concept of virtue prevailing over vice. Although at times vice may appear to triumph over virtue, ultimately poetry presents virtue as superior based on the differing definitions of virtue. The punishment of vice and advocacy of virtue is a popular theme of literature and the reason why Sir Philip Sidney correctly asserts that poetry encourages virtue and condemns vice as repulsive. More’s "Utopia" advocates the pursuit of virtue, however, virtue is defined as a type of hedonism. Utopians follow a unique definition of virtue, which advocates a life of pleasure and the pursuit of happiness. Virtue is considered living the way people are designed to live, or according to nature. Utopians believe this translates as living a life based on achieving pleasure. The Utopian definition of pleasure may include helping other people, humanitarian views which are still advocated in the 21st century, but definitely does not include working hard for painful "virtue" which they consider not true virtue at all if you must deprive yourself and suffer misery. A virtuous life is encouraged by the punishment of crime, or vice. Utopians reward virtue, and punish those who attempt crime. Strict slavery is the punishment for violating wedding vows, and the other punishments are determined based on the extent of the crime. More’s fictional world of Utopia contrasts virtue and vice in society and upholds virtue as... ...e and despised character who endeavors to escape the misery of his life through suicide. The virtuous character of Cassio, shows the ultimate success and triumph of virtue over vice as he attains worldly success and defeats Iago, who is full of vice. These complex literary characters present morality as desirable and vices as deplorable. The narratives of Genesis, "Utopia," and Othello" all exemplify the achievements and victories of virtuous characters or traits. The failures and miseries inherently connected with vices are also presented. These literary works corroborate Sir Philip’s claim that poetry presents virtue in a light so "that one must needs be enamored of her." It can be assumed, therefore, that the study of literary works such as these can only improve morals and virtues, and for the good of American society, all students should major in Literature.

To What Extent was Gorbachev to blame for the Collapse of the USSR Essay

Gorbachev was to fault for the prostration of the USSR for assorted grounds. chiefly because of his two new policies. ‘Glasnost’ ( New Freedom and Openness ) and ‘Perestroika’ ( Economic Restructuring ) . However. there were a few external factors which helped do the prostration of the USSR. such as the consequence Yeltsin had on Russia and how states were turning tired of the whole Communist system itself. Gorbachev’s purpose was to do the Communist system work better by leting people to hold their say in how the system could be improved and to do the Soviet system of cardinal planning of production more efficient. However. it merely allowed people to openly knock the system and shortly people wanted to acquire rid of it. First. the Cold War created a crisis in the USSR. The weaponries race with the USA had become so expensive that Soviet life criterions became worse as more money was spent on arms. Soviet Farming was inefficient ; there wasn’t adequate nutrient. so metric tons of grain had to be imported from the USA. The communist authorities was going more and more corrupt and was unable to run into demands of high life criterions like the West for the Soviet people. The USSR had been at war with Afghanistan since 1979. The war was a complete catastrophe because it cost one million millions of dollars and 15 000 Soviet military personnels were killed. Already people ruled under Communism were get downing to experience uneasy. Mikhail Gorbachev came to power in 1985 in the USSR and radically changed Soviet Policies. He became General Secretary of the Communist Party. He was more unfastened to the West than old leaders and offered a solution for the current state of affairs. He introduced two major new policies. Glasnost and Perestroika. Glasnost meant New Freedom and Openness. In this policy the Soviet people won new rights. First 1000s of political captives were released. including the ill-famed Andrei Sakharov. Peoples were told of the atrociousnesss committed by Stalin’s dictatorial authorities. Free address was allowed and military muster was to be abolished. Perestroika meant Economic restructuring. Gorbachev wanted to do the system of production more efficient. nevertheless corruptness in the Soviet authorities was excessively great. So he was unable to see through his programs. Gorbachev changed foreign policy. In 1987. a disarming pact was signed. called the INF ( Intermediate-range Nuclear Forces ) . The USSR and the USA agreed to take all medium scope missiles from Europe within three old ages. In 1988. Gorbachev announced the immediate decrease in the arms reserve and the figure of military personnels in the Soviet armed forces. Gorbachev tried to better dealingss with the West. He met the US president Reagan several times. one of which was at the Geneva Summit in 1985. In 1988. Gorbachev abandoned the Brezhnev Doctrine. He told the UN that people now had a pick in Eastern Europe and that the USSR wasn’t traveling to command them any longer. Gorbachev announced the complete backdown of Soviet military personnels from Afghanistan in 1988. In 1978. the Communist Afghan authorities secured a pact with the USSR that allowed them to inquire for military aid when they required it to contend against the Mujahideen Rebels. In 1979. they requested for armored combat vehicles and choppers. this was approved. They so started inquiring for platoons. The USSR was now a spot hesitating on O.K.ing this. In July 1979. American president Jimmy Carter funded for the Afghan Rebels and allowed them to purchase more and better arms. Besides the CIA conducted anti communist propaganda in the localities. In September. the Deputy Prime Minister of Afghanistan. Hafizullah Amin took power after the shot of President Taraki. The Soviets saw this as destabilising and on December 27th they decided to occupy Afghanistan in an effort to brace the communist authorities. It lasted nine old ages. and was referred to as the Soviet’s Vietnam. The USSR’s invasion cost them a great trade of money. Gorbachev offered what he thought to be a solution for this. The negative affects of communism can be highlighted by looking at the predominating conditions in Hungary and Germany. After the war. the USSR helped set Rakosi. a barbarous Stalinist in charge of Hungary. He was unpopular and in 1956. the people of Budapest protested against his authorities. The secret constabulary were hunted down. Khrushchev allowed the broad Nagy to go Prime Minister. After Austria declared itself a impersonal province in 1955. Nagy hoped that Hungary could make the same. In 1956. Nagy declared the terminal of communism there by retreating from the Warsaw treaty and keeping free elections. In response to this. Soviet armored combat vehicles invaded Hungary. 20 00 Hungarians were killed or injured. Nagy was arrested and shot. Kadar became premier curate and ensured trueness to the USSR. Western states didn’t assist the USSR. This was the first move made by Khrushchev to demo he was tough. The Berlin Wall was built in 1961. In 1949. Stalin ended the Berlin encirclement. Two new provinces formed were East Germany ( Democratic Republic ) and West Germany ( Federal Republic ) . Between so and 1961 over two and a half million people fled to West Germany. The communist authorities of East Germany was worried and so made a 30-mile barrier across the metropolis of Berlin. It was fortified with biting wire and machine gun stations and separated East and West Berlin. Anyone who tried to get away East Berlin was shot. so West Berliners were now separated from friends and household. More unrest continued. this clip with Poland. Solidarity played a major portion in 1980 when Poland’s people rebelled. Solidarity was lead by Lech Walesa and it demanded the right to strike and to be consulted on all major determinations impacting their life and on the job conditions. Solidarity started after the communist authorities decided to raise monetary values due to the foreign debt in Poland’s economic system. It was an anti-communist societal motion. which by 1981 attracted nine million members. It was particularly strong because of the support from the Catholic Church. General Jaruzelski took over the state in 1981 and declared Martial Law. Solidarity was banned and nutrient monetary values were raised 40 % . However. in 1989. free elections were held in Poland and Solidarity won. This was able to go on now because of Glasnost. Glasnost was assisting Eastern European states to really turn away from Communism. this had a really negative impact on Gorbachev. The Cold War was eventually over. Communism fell all over Eastern Europe in 1989. Hungary opened its frontier with Austria in May. Poland held free elections in June. Solidarity won and a new non-communist authorities came to power. Many East Germans crossed through Austria and into West Germany and the Berlin wall was knocked down in November. In 1990 Germany was reunified. Anti-communist presentations took topographic point in Czechoslovakia and the communist authorities collapsed in December. In December a revolution in Romania began against the cruel and corrupt government with dictator Nicolae Ceausescu and he was executed on Christmas twenty-four hours. The Warsaw Pact ended in 1991. Communism was rejected in the USSR. The chief nationalities in the Soviet Union demanded independency. particularly the Baltic democracies. Latvia. Lithuania and Estonia. Gorbachev tried to forestall the rise of patriotism in the Baltic democracies with military force. but he bit by bit started to lose control. The anti-communist Russian president was elected in 1991. Boris Yeltsin was an opposition of Gorbachev and became powerful and popular. He demanded the terminal of communism domination and the dividing up of the USSR. This led to a crisis in 1991. The old communist leaders feared the reforms. so they decided to acquire rid of Gorbachev ; this was an attempted putsch in 1991. A military group tried to prehend power by capturing Gorbachev but Yeltsin rallied the Russian people to defy and the ground forces supported him. the putsch failed. The Soviet democracies shortly became independent and the USSR did non be any longer. Gorbachev lost his power and had to vacate. Communism in Russia was dead. To reason. there were assorted factors which affected the prostration of the USSR. nevertheless I believe that Gorbachev was chiefly to fault because of his new policy Glasnost. Glasnost enabled people to hold free address. Gorbachev believed that it would assist reconstruct the Communist system but alternatively it ruined the system by leting people to openly knock it. Wagess were really low. people could now see the differences between their life style and the West’s life style. particularly when the uncensored Olympics were on. Communism was non offering good on the job conditions any longer. Soviet Young persons were non allowed to see certain movies. listen to certain music or Western wireless Stationss. In the Republics people were tired of being told what to make by Russia all the clip. they wanted to regulate themselves. Glasnost allowed them to knock and protest. Finally this got them independency and the brotherhood was deteriorating. The attempted putsch of 1991 triggered the terminal of the Soviet Union. Yeltsin rallied the Russian people to defy with the support of the ground forces. the putsch failed and the Soviet Republics became independent and the USSR ceased to be. Yeltsin besides had a big affect on the Russian people to act upon them to turn away from communism. Gorbachev allowed people to turn away from communism. which finally lead to the prostration of the USSR.

Comparison of Public and Private Banks

A â€Å"SUMMER TRAINING† PROJECT REPORT ON COMPARATIVE STUDY BETWEEN PRIVATE SECTOR BANKS ANP PUBLIC SECTOR BANKS Submitted To: PUNJAB TECHNICAL UNIVERSITY,JALANDHAR MASTER OF BUSINESS ADMINISTRATION(MBA) SESSION(2007-09) CT INSTITUTE OF ENGINEERING,MANAGEMENT & TECHNOLOGY,JALANDHAR (SHAHPUR CHAMPUS) 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 influences their perceptions and argument their understanding of the real situation. Research work constitutes the backbone of any management education programme. A management student has to do research work quite frequently during his entire span. The research work entitle â€Å"COMPARATIVE STUDY BETWEEN PRIVATE SECTOR BANKS AND PUBLIC SECTOR BANKS† aims to analyze various services provided by private sector banks and public sector banks for this pu rpose Pathankot city have been chosen.ACKNOWLEDGEMENT I feel immense pleasure to give the credit of my summer training project work not only to one individual effort of all those who concern with it. I want to thanks to all those individual who guided me to move on the track. The summer training project entitled â€Å"COMPARATIVE STUDY BETWEEN PRIVATE SECTOR AND PUBLIC SECTOR BANKS† I am gratefully indebted to Mr. Davinder Singh for providing me all the necessary help and required guideline for the completion of my project and also for the valuable time that he gave me from his scdedule. Neha Kapoor TABLE OF CONTENTS |CHAPTER NO. PARTICULARS |PAGE NO. | | 1 |INTRODUCTION OF THE STUDY | 1-23 | | 2 |OBJECTIVES OF THE STUDY | 24-25 | | 3 | 3. 1 RESEARCH METHODOLOGY | 26-36 | | | | | | |3. LIMITATIONS OF THE STUDY | | | | |37 | | 4 |DATA ANALYSIS AND ITS INTERPRETATION | 38-46 | | 5 |FINDING OF THE STUDY | 47-50 | | 6 |SUGGESTIONS 51-54 | | 7 |CONCLUSION | 55-56 | | 8 |BIBLIO GRAPHY | 57-58 | | 9 |ANNEXURE | 59-62 | Introduction The world of banking has assumed a new dimension at dawn of the 21st century with the advent of tech banking, thereby lending the industry a stamp of universality.In general, banking may be classified as retail and corporate banking. Retail banking, which is designed to meet the requirement of individual customers and encourage their savings, includes payment of utility bills, consumer loans, credit cards, checking account and the like. Corporate banking, on the other hand, caters to the need of corporate customers like bills discounting, opening letters of credit, managing cash, etc. Metamorphic changes took place in the Indian financial system during the eighties and nineties consequent upon deregulation and liberalization of economic policies of the government.India began shaping up its economy and earmarked ambitious plan for economic growth. Consequently, a sea change in money and capital markets took place. Application of marketing concept in the banking sector was introduced to enhance the customer satisfaction the policy of privatization of banking services aims at encouraging the competition in banking sector and introduction of financial services. Consequently, services such as Demat, Internet banking, Portfolio Management, Venture capital, etc, came into existence to cater to the needs of public.An important agenda for every banker today is greater operational efficiency and customer satisfaction. The mew watchword for the bank is pretty ambitious: customer delight. The introduction to the marketing concept to banking sectors can be traced back to American Banking Association Conference of 1958. Banks marketing can be defined as the part of management activity, which seems to direct the flow of banking services profitability to the customers. The marketing concept basically requires that there should be thorough understanding of customer need and to learn about market it operates in.Further the market is segmented so as to understand the requirement of the customer at a profit to the banks. DEFINITION OF BANK The Oxford dictionary defines the Bank as, â€Å"An establishment for the custody of money, which it pays out, on a customer’s order. † According to Whitehead, â€Å" A Bank is defined as an institution which collects surplus funds from the public, safeguards them, and makes them available to the true owner when required and also lends sums be their true owners to those who are in need of funds and can provide security. † Banking Company in India has been defined in the Banking Companies act 1949, One which transacts the business of banking which means the accepting, for the purpose of lending or investment of the deposits of money from the public, repayable on demand, or otherwise and withdraw able be cheque, draft, order or otherwise. † The banking system is an integral subsystem of the financial system. It represents an important channel of collecting small savings form the households and lending it to the corporate sector. The Indian banking system has Reserve Bank of India (RBI) as the apex body for all matters relating to the banking system. It is the central Bank of India.It is also known as the Banker To All Other Banks. EVOLUTION OF INDIAN BANKING Ancient banking system of India constituted of indigenous bankers. They have been carrying on their age-old banking operations in different parts of the country under different names. The modern age of banking constitutes the fundamental basis of economic growth. The term Bank is being used since long time but there is no clear conception regarding its beginning. According to the viewpoint, in good old days. Italian money leaders were known as â€Å"Banchi† because they kept a special type of table to transact their business.IMPORTANCE OF BANKS Today banks have become a part and parcel of Kotak Bank's life. There was a time when dwellers of the city alone coul d enjoy their services. Now banks offer access to even a common man and their activities extend to areas hitherto untouched. Banks cater to the needs of agriculturalists, industrialists, traders and to all the other sections of the society. In modern age, the banking constitutes the fundamental basis of economic growth. Thus, they accelerate the economic growth of a country and steer the wheels of the economy towards its goals of â€Å"self reliance in all fields†.It naturally arouses Kotak Bank's interest in knowing more about the ‘Bank’ and the various men and the activities connected with it. Indian Banking System Banking in India has its origin as early as the Vedic period. It was believed that transition from money lending to banking must have occurred even before Manu, The great Hindu Jurist, who has devoted a section of his work to deposit advance and laid down rules relating to rates of interest. During the Mogul period, the indigeneousBankers played a ve ry important role in lending money financing foreign trade and commerce.During the days of East India Company, it was turn over the agency houses to carry on the business. â€Å"The General Bank of India† was the first to join sector in the year 1786. The others that followed were the Bank of Hindustan and the Bengal bank. The bank of Hindustan is reported to have continued till 1906 while the other two failed in the meantime. In the first half of the 19th century the East India Company established three banks: 1. Bank of Bengal (1809). 2. Bank of Bombay (1840). 3. Bank of Madras (1843. These three banks are also known as Presidency Banks were independent units and functioned well.These three banks were amalgamated in 1920 and Imperial Bank of India was established on 27th january1921, which started as private shareholders banks, mostly Europeans shareholders, with the passing of time Imperial bank was taken over by the newly constituted State bank of India act in1955. In 186 5 Allahabad Bank was established and first time exclusively by Indians, Punjab National Bank Ltd. was set up in 1894 with headquarters at Lahore. Between 1906 and 1913, Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank, and Bank of Mysore were set up.Reserve Bank of India came in 1935. On July, 1969, 14 major banks of India were nationalized and on 15th April, 1980 six more commercial private banks were also taken over by the government. Reserve Bank of India The Banking system is an integral sub-system of the financial system. It represents an important channel of collecting small savings from the households and lending it to the corporate sector. The Indian banking system has The Reserve Bank of India (RBI) as the apex body from all matters relating to the banking system. It is the â€Å"Central Bank† of India and act as the banker to all other banks.Functions of RBI: †¢ Currency issuing authority †¢ Banker to the government. †¢ B anker to other Bank. †¢ Framing of monetary policy. †¢ Exchange control. †¢ Custodian to foreign exchange and gold reserves. †¢ Development activities. †¢ Research and development in the banking sector. CLASSIFICATION OF BANKS On the basis of Ownership PUBLIC SECTOR BANKS Public sector banks are those banks that are owned by the government. The government owns these banks. In India 20 banks were nationalized in 1969 and 1980 respectively. Social welfare is there main objective. PRIVATE SECTOR BANKSThese banks are those banks that are owned and run by private sector. An individual has control over these banks in proportion to the shares of the banks held by him. CO-OPERATIVE BANKS These are those banks that are jointly run by a group of individuals. Each individual has an equal share in these banks. Its shareholders manage the affairs of the bank. According to the Law SCHEDULED BANK Schedule banks are the banks, which are included in the second schedule of th e banking regulation act 1965. According to this schedule bank: 1. Must have paid-up capital and reserve of not less than Rs500, 000. . Must also satisfy the RBI that its affairs are not conducted in a manner Determinate to the interest of its depositors. Schedule banks are sub-divided as:- a) State co-operative banks b) Commercial banks NON-SCHEDULED BANKS Non -schedule banks are the banks, which are not included in the second schedule of the banking regulation act 1965. It means they do not satisfy the conditions lay down by that schedule. These are the banks having paid up capital, less than Rs. 5Lakhs. They are further classified as follows:- A. Central Co-operative banks and Primary Credit Societies.B. Commercial banks According to Function COMMERCIAL BANKS These are the banks that do banking business to earn profit. These banks make loans for short to business and in the process create money. Credit creation is the main function of these banks. FOREIGN BANKS These are those ba nks that are incorporated by foreign company. They have set up their branches in India. These banks have their head offices in foreign countries. Their principle function is to make credit arrangement or the export and the import of the country and these banks deals in foreign exchange. INDUSTRIAL BANKSIndustrial banks are those banks that offer long term and medium term loan to the industries and also work for their development. These banks help industries in sale of their shares, debentures and bonds. They give loan to the industries for the purchase of land and machinery. AGRICULTURAL BANKS Agricultural banks are those banks that give credit to agricultural sector of the economy. SAVING BANKS The principle function of these banks is to collect small savings across the country and put them to the productive use. In India department of post office functions a savings banks. CENTRAL BANKCentral Bank is the apex bank of the banking system of the country. It issues currency notes and acts a banker's bank. Economic stability is the principle function of this bank. In short, it regulates and controls the banking system of the country. RBI is the Central Bank of India. PRIVATIZATION OF INDIAN BANKING For the public sector banks, the era of bumper profit is over. For much of the last decade the process of collaborated financial liberalization had cleared up the Bank’s balance sheet enabling them to with stand increased competition, global financing, turmoil and even unprotected industrial slow down.But the cycle of liberalization has run its full course. Now it is the time for the big structural leap, rationalization, mergers, and privatization. Unless the banks undertake these fundamental changes, their profit will stay under pressure. There are twp areas of competitions which banking industry is facing internationally and nationally. In the pre-liberalization era, Indian banks could grow in a closed economy but the banking sector opened up for private compe tition. It is possible that private banks could become dominant players even within India.It has been recorded a rapid rise of the new private sector banks and it has tracked the transformation of the public sector banks as they grapple with the changes of financial deregulation. Use of ATM cards, Internet Banking, Phone Banking, Mobile Banking are the new innovative channels of banking which are being widely used as they result in saving both time and money which are two essential things that every one is short of and is running to catch hold of them. Moreover private sector banks are aligning its infrastructures, marketing quality and technology to build deep commitment in building consumer and retail banking.The main focus of these banks is on innovative range of services or products. STRUCTURE OF BANKING SYSTEM Different countries of the world have different types of banking systems. However, commercial banking had grown under all these banking systems. To understand the structu re of banking system, let us take up various types of banking systems one by one. These types are: (1) UNIT BANKING Unit Banking originated in the United State of America. It grew in the United States of America. As a counter part of independent or industrial units. An independent unit bank is a corporation that operates one office and that is not related to other banks through either ownership or control. Shaper, Solomon and White. Thus under unit banking, a single bank is a complete organization in itself having its own management. The scale of operation is small and the area is restricted to a locality only. Unit banking is localized banking and is much more responsive to the needs of the locality. It has better understanding of the local problems and conditions, which helps it to cater to the needs of the area in a better way.The staff of the unit bank is generally local and is in a better position to determine the standing or desirability of the customers. The failure of the un it bank will not endanger the banking system and economy. It is free from the difficulties and diseconomies of large scale operations. It will not drain out the financial resources of villages and small towns to big industrial centers and will ensure a balanced growth. (2) BRANCH BANKING: Economic and Managerial problems faced by the unit banks let to the emergence of banking system. Now, This the most popular and important banking system.In branch banking, a bank has a large network of branches scattered all over the country. Branch banking developed in England. Subsequently most of the countries of the world adopted the system. In terms of branches, the State Bank of India has emerged as one of the largest banks in the world. As under the system the resources of a number of branches get pooled under the same management, any individual branch is in a better position to face excessive withdrawals by the customers. It facilitates diversification of activities because the area covered by the branches is generally widespread.Under the system branches can operate without keeping large idle cash reserves. It becomes possible for the bank to hire the services of competent and professionally qualified managers, capable of understanding the handling technical problems and complex situations. The cost of remitting or transferring funds from one place to another works out to be less. The staff stays at a branch only for a limited period, so the chances of objective decision making in the branch banking are high. Branch Banking tends to bring homogeneity in the prevailing Interest Rates as it increases the mobility of resources from one place to another.It is easier for the Central Bank to exercise Control. It will communicate only with a few Registered /Head Offices of the Banks and not with each individual branch. In this system there more safety and liquidity of funds. The choice of securities and investments is larger. Branch banking makes complete banking services a vailable to the smallest communities. The branches in small localities can be initially operated at loss in expectation of future gains. The comparative study of unit banking and branch banking is a case of small scale banking versus large scale banking. It is evident that the scale is clearly titled towards branch banking.With the growth of large scale business it is no wonder that the trend is almost every country towards the branch banking i. e. big banks with a network of branches all over the country. Even in the U. S. A. The birthplace of unit banking. The Bank of America has now more than 500 branches in the state of California itself. (3) CHAIN BANKING : Shaper, Solomon and White have defined Chain Banking as â€Å"An arrangements by which two or more banks –each of which retains its identity, capital and personnel –are brought under common control by any device other than a Holding Company. † Under the system there is pooling of resources.Chain banking overcomes certain limitations of unit banking. But the system suffers from certain limitations of its own. There may be a lack of co-ordination, proper control etc. The system is inflexible. (4) GROUP BANKING : It is similar to Chain Banking, the difference being that under Group Banking two or more banks are brought under the control of the same management through a Holding Company. Both the systems aim at gaining the advantages of large scale operations. The banks are able to pool their resources in case of emergency or when large amount of cash is required to meet the loan requirements of the customer.The advantages and disadvantages of both the systems are similar. Both the systems developed in the United State of America as a result of attempts to overcome the difficulties or limitations of unit banking. (5) CORRESPONDENT BANKING: Under Correspondent banking, small banks serving local communities hold deposits with joint banks serving in big cities. This kind of banking is prev alent in U. S. A. The correspondent banks perform two important services of outstation cheque clearing and loan participation for the respondent banks while they benefit for the deposit funds of respondent banks.A) COMMERCIAL BANKS [pic] PRIMARY FUNCTIONS : 1) Accepting of Deposits : A bank accepts deposits from the public. People can deposit their cash balances in either of the following accounts to their convenience:- a. Fixed or Time Deposit Account : Cash is deposited in this account for a fixed period. The depositor gets receipts for the amount deposited. It is called Fixed Deposit Receipt. The receipt indicates the name of the depositor, amount of deposit, rate of interest and the period of deposit. This receipt is not transferable.If the depositor stands in need of the amount before the expiry of fixed period, he can withdraw the same after paying the discount to the bank. b. Savings Account : This type of deposit suits to those who just want to keep their small savings in a bank and might need to withdraw them occasionally. Banks provide a certain rate of interest on the minimum balance kept by the depositor during the month. c. Current Account : This type of account is kept by the businessman who are required to withdraw money every new and then. Banks do not pay any interest on this account.Any sum or any number of withdrawals can be presented by such an account holder. 2) Advancing of Loans : The bank advances money in any one of the following ways. a. Overdraft Facilities : Customers of good trading are allowed to overdraw from their current account. But they have to pay interest on extra amount they have withdrawn. Overdrafts are allowed to provide temporary accommodation since the extra amount withdrawn is payable within a short period. b. Money at Call : It is the money lent for a very short period varying from 1 to 14 days.Such advances are usually made to other banks and financial institutions only. Money at call ensures liquidity. In the Inte rbank market it enables bank to make adjustment according to their liquidity requirements. c. Loans : Loans are granted by the banks on securities which can be easily disposed off in the market. When the bank has satisfied itself regarding the soundness of the party, a loan is advanced. d. Cash Credit : The Debtor is allowed to withdraw a certain amount on a given security. The debtor withdraws the amount within this limit, interest is charged by the bank on the amount actually withdrawn. . Discounting Bill of Exchange : It is another method of making advances by the banks. Under this method, bank give advance to their clients on the basis of their bills of exchange before the maturity of such bills. f. Investment in Government Securities : Purchasing of government securities by the banks tantamount to advancing loans by them to the Government. Banks prefer to buy government securities as these are considered to be the safest investment. For example : Indira Vikas Patra : It enables the banks to meet requirement of statutory liquidity ratio (SLR) ) Credit Creation :One of the main functions of banks these days is to create credit. Banks create credit by giving more loans than their cash reserves. Banks are able to create credit because the demand deposits i. e. a claim against the bank is accepted by the public in settlement of their debts. In this process the bank creates money. For this reason Prof. Sayers has called bank â€Å"the manufactures of money. † 4) Cheque system of Payment of Funds A cheque, a negotiable instrument, which in fact is a bill of exchange, drawn upon a banker, is the most popular credit instrument used by the client to make payments.Cheque system is the main credit instrument in the banking world. Although a cheque is not a legal tender money, the serves as a medium of exchange in a limited way as it is a negotiable instrument. Because of â€Å"clearing houses† and â€Å"clearing† operations of the banks, cheques can be and are used for transferring funds from one centre to another. In the modern days they can also be used for transferring funds from one country to another. SECONDARY FUNCTIONS Besides the above primary functions, banks also perform may secondary functions such as agency functions, general utility and social functions.A) Agency Functions Banks act as agents to their customers in different ways :- i) Collection and Payment of Credit and Other Instruments: The Commercial banks collect and pay cheques, bills of exchange, promissory notes, hundies, rent, interest etc. On behalf of their customers and also make payments of income tax, fees, insurance premium etc. on behalf of the customers. Customers can leave standing instructions with the banker for various periodic payments ensuring the regular payments and avoiding the trouble of performing it themselves. ii) Purchase and Sale of Securities : The modern ommercial banks also undertake the purchase and sale of various securities like shares, stocks, bonds units and debentures etc. On behalf of the customers, banks do not give any advice regarding the suitability or otherwise of a security but simply perform the functions of a broker. iii) Trustee and Executor : Banks also acts as trustees and executors of the property of their customers on their advice. Sometimes banks also undertake income tax services on behalf of the customers. iv) Remittance of Funds : The Commercial banks remit funds on behalf of clients from one place to another through cheques, drafts, mail transfers etc. ) Representation and Correspondence : Sometimes commercial banks acts as representatives or correspondents of the clients especially in handling various applications. For instance, passports and travel tickets, booking of vehicles, plots etc. vi) Billion Trading : In many countries, the commercial banks trade is billions like gold and silver. In Oct 1997, 8 banks including SBI, IOB, Canara Bank and Allahabad Bank have been allowed import of gold which has been put under open general licensed category. vii) Purchase and Sale of Foreign Exchange : Banks buy and sell foreign exchange, promoting international trade.This function is mainly discharged by foreign Exchange Banks. viii) Letter of References : Banks also give information about economic position of their customers to domestic and foreign traders and vice versa. B) GENERAL UTILITY SERVICES In addition to agency services, banks render many more utility services to the public. These services are :- i) Locker Facilities : Banks provide locker facilities to their customers. People can keep their valuables or important documents in these lockers. Their annual rent is very nominal. ii) Acting as a referee : It desired by the customers, the bank can be a referee i. . who could be referred by the third parties for seeking information regarding the financial position of the customers. The bank will acts as referee only and only if it is desired by the customer, o therwise the secrecy of a customers is account is maintained very carefully. iii) Issuing letters of credit : Bankers in a way by issuing letters of credit certify the credit worthiness of the customers. Letters of credit are very popular in foreign trade. iv) Acting as Underwriters : Banks also underwrite the securities issued by the Government and Corporate bodies for a commission.The name of bank as an underwriter encouraged investors to have faith in the security. v) Acting as information banks : Commercial banks also acts as â€Å"information† bureau as they collect the financial, economic and statistical data relating to industry, trade and commerce. HDFC Bank is providing information relating to NRI Schemes and commentaries of experts on development in the areas of finance through Internet. vi) Issuing Traveler’s cheques and credit cards : Banks have been rendering great service by issuing traveler’s cheques, which enable a person to travel without fear o f theft or loss of money.Now, some banks have started credit card system under which a credit card holder is allowed to avail credit from the listed outlets without any additional cost or effort. Thus, credit card holder need not carry or handle cash all the time. Now, international credit cards are joining hands with Indian Banks. vii) Issuing of gift cheques: Certain banks issue gift cheques of various denominations, e. g. Some Indian banks issue gift cheques f the denominations of Rs. 21, 31, 51 and 101 etc. They are generally issued free of charge. viii) Dealing in Foreign Exchange: Major branches of commercial banks also transact business of foreign exchange.Commercial banks are the main authorized dealers of foreign exchange in India. ix) Merchant banking Services: Commercial banks also render merchant banking services to the customers. They help in availing loans from non-banking financial institutions. x) Help in Transportation of Goods: Big businessmen or industrialists aft er consigning goods to their retailers send the Railway Receipt (Consignment Note) to the bank. List of Public Sector Banks o State Bank of Bikaner & Jaipur o State Bank of Hyderabad o State Bank of Indore o State Bank of Mysore o State Bank of Saurastra State Bank of Travancore Other Nationalised banks are: †¢ Allahabad Bank †¢ Andhra Bank †¢ Bank of Baroda †¢ Bank of India †¢ Bank of Maharastra †¢ Canara Bank †¢ Central Bank of India †¢ Corporation Bank †¢ Dena Bank †¢ Indian Bank †¢ Indian Overseas Bank †¢ Oriental Bank of Commerce †¢ Punjab & Sind Bank †¢ Punjab National Bank †¢ Syndicate Bank †¢ UCO Bank †¢ Union Bank of India †¢ United Bank of India †¢ Vijaya Bank List of Private Sector Bank †¢ Bank of Punjab †¢ Bank of Rajasthan †¢ Catholic Syrian Bank †¢ Centurion Bank †¢ City Union Bank †¢ Dhanalakshmi Bank †¢ Development Credit Bank †¢ Fede ral Bank †¢ HDFC Bank ICICI Bank †¢ IDBI Bank †¢ IndusInd Bank †¢ ING Vysya Bank †¢ Jammu & Kashmir Bank †¢ Karnataka Bank †¢ Karur Vysya Bank †¢ Laxmi Vilas Bank †¢ South Indian Bank †¢ United Western Bank †¢ UTI Bank List of Foreign Banks in India †¢ ABN-AMRO Bank †¢ Abu Dhabi Commercial Bank †¢ Bank of Ceylon †¢ BNP Paribas Bank †¢ Citi Bank †¢ China Trust Commercial Bank †¢ Deutsche Bank †¢ HSBC †¢ JPMorgan Chase Bank †¢ Standard Chartered Bank †¢ Scotia Bank †¢ Taib Bank Upcoming Foreign Banks In India [pic] |[pic] | By 2009 few more names is going to be added in the list of foreign banks in India.This is as an aftermath of the sudden interest shown by Reserve Bank of India paving roadmap for foreign banks in India greater freedom in India. Among them is the world's best private bank by Euro Money magazine, Switzerland's UBS. The following are the list of foreign b anks going to set up business in India †¢ Royal Bank of Scotland †¢ Switzerland's UBS †¢ US-based GE Capital †¢ Credit Suisse Group †¢ Industrial and Commercial Bank of China Merrill Lynch is having a joint venture in Indian investment banking space — DSP Merrill Lynch. Goldman Sachs holds stakes in Kotak Mahindra arms.GE Capital is also having a wide presence in consumer finance through GE Capital India. India's GDP is seen growing at a robust pace of around 7% over the next few years, throwing up opportunities for the banking sector to profit from. The credit of banks has risen by over 25% in 2004-05 and the growth momentum is expected to continue over the next four to five years. Participation in the growth curve of the Indian economy in the next four years will provide foreign banks a launch pad for greater business expansion when they get more freedom after April 2009. Objectives of the StudyThis study has been conducted with a variety of importa nt objectives in mind. The following provides us with the chief objectives that have tried to achieve through the study. The extent to which these objectives have been met could judged from the conclusions and suggestions, which appear in the later of this study. The Chief Objectives of this study are: 1. To find the bank sector that is largely availed by the customer. 2. To study the factors the factors influencing the choice of a bank for 3. availing services. 4. To find and compare the satisfaction level of customers in public sector 5. s well as in private sectors bank. 6. To study the problem faced by customer. 7. To get suggestions for improvement or change in the services of public and private sector banks. 8. To study what do people expect in the new era of banking. RESEARCH METHODOLOGY Research is an art of scientific investigation. In other word research is a scientific and systematic search for pertinent information on a specific topic. The logic behind taking research me thodology 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 account holders of District Jalandhar. 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 newspapers and by surfing on Internet.And the guide in the organization was consulted at many times. SAMPLE DESIGN:-A sample design is a definite plan for obtaining a sample from a given population. It refers to the techniques or the procedure th e researcher would adopt in selecting items for the sample. Sample design may as well lay down the number of items to be included in the sample i. e. , the size of the sample. Sample design is determined before data are collected. Here we select the population as sample in our sample design. The selected respondents should be as representatives of the total population.POPULATION:- The persons holding saving account related to business class of District Jalandhar were taken into consideration. DATA COLLECTION Data was collected by using main two methods i. e primary data and secondary data. PRIMARY DATA Primary data is the data which is used or collected for first time and it is not used by anyone in the past. There are number of sources of primary data from which the information can be collected. We choose the following resources for our research. QUESTIONNAIRE:-This method of data collection is quite popular, particular in case of big enquiries.Here in our research we set 15 simple questions and request the respondents to answer these questions with correct information. RESPONDENTS:-Respondents helps in creation of more accurate idea about our research. We personally meet the respondents inside and outside the banks. SECONDARY DATA Secondary data is the data which is available in readymade form and which is already used by people for some purposes. There may be various sources of secondary data such as-newspapers, magazines, journals, books, reports, documents and other published information.BANKS ANNUAL REPORTS:-Banks issues there annual reports to get the people informed with the profitability and growth of the bank. These annual reports helps us a lot to get the latest data and other related information for our research. It tells us about the increase or decrease in profits and other facilities. JOURNALS AND PUBLICATIONS OF DIFFERENT BANKS :- We also take into consideration the journals and publications issued by the bank at different times. we comes to kn ow about the Branches, ATM, locations and other useful information.MANUALS AND BROACHERS OF DIFFERENT BANKS:-We take the help of bank staff and other people who gives us deep information and data which may not be available at anywhere. They gives us there full co-operation. INTERNET:-We also take into consideration the internet facility with which we collect lot of latest information. SAMPLE PLAN : ? SAMPLE SIZE: Keeping in mind all the constraints the size of the sample of the study was selected as 80. ? SAMPLING UNIT:- Centurion Bank of Punjab Branch in Jalandhar city. Due to nature of study, we also visited various different banks ICICI, HDFC, SBI, PUNJAB NATIONAL BANK etc. f Jalandhar District. ? SAMPLING TECHNIQUE:- Stratified convenient sampling. All the saving account holders were taken into consideration. Research was conducted on clear assumptions that the respondents would give frank and fair answers in a pragmatic way and without any bias. ? SAMPLING DESCRIPTION:- In orde r to understand the nature and characteristics of various respondents in this study, the information was collected and analyzed according to their socio economic background which included the characteristic of their respondents like education, age marital status and monthly income.This description shows that respondents included in this survey belong to different backgrounds and this turn increase the scope of the study. PERSONAL DETAIL AGE |Particulars |%age of Respondent | |20-30 years |20% | |30-40 years |50% | |40-50 years 20% | |50-60 years |10% | [pic] Analysis & Interpretation: From the above study we find that nobody is below 20 age and 20% respondents are between 20-30 age group, 50% respondents are between 30-40 age group, 20% respondents is between 40-50 age group and 10% respondents are between 50-60 age group. SEX Particulars |No of Respondent |%age | |Male |70 |70% | |Female |30 |30% | |Total |100 |100% |Analysis: From the above result we come to know that out of 100, 62 respondents are male and 38 are female which is 62% and 38% are respectively. Interpretation: From the above data we conclude that most of our respondents are male. MARITAL STATUS Particulars |No of Respondent |%age | |Married |33 |33% | |Unmarried |67 |67% | |Total |100 100% | [pic] Analysis: From the above study we find that out of 100%, 33% respondents are married and 67% respondents are unmarried. Interpretation: Most of the respondents of our survey are Unmarried. Q4: HIGHEST EDUCATIONAL QUALIFICATION:- Particulars |No of Respondent |% age | |Matric |4 |4% | |Senior Secondary |14 |14% | |Graduate |46 |46% | |Post graduate | 36 |36% | | Total |100 |100% | [pic] Analysis: This analysis shows that out of 100 respondent, 46% respondents are graduate & professional, 36% respondents are post graduate, 14% respondents are senior secondary and 2% respondents are of Matric category. All the respondents of our survey are qualified. Interpretation: From the above data we conc lude that most of our respondents are Graduates & professional degree holders.OCCUPATION |Particulars |No of Respondent |%age of respondents | |Businessman | 32 |32% | | Government Employee | 28 |28% | | Student | 24 |24% | | Others |16 |16% |Analysis: From the above analysis it is clear that 32% respondents are doing their own business, 28% are employees and 16% respondents belong to other category And 24% of our respondents are students. Most of the respondents of our survey are Businessmen. Interpretation: From the Above data we conclude that most of our survey respondents are businessmen. DATA COLLECTION: Data was collected using two main methods: COLLECTION OF DATA LIMITATIONS OF THE STUDY Due to constraints of time and resources, the study is likely to suffer from certain limitations. Some of these are mentioned here under so that the findings of the study may be understood in a proper perspective. The limitations of the study are: Some of the respondents of the survey were un willing to share information. ? The research was carried out in a short period of 6 weeks . Therefore the sample size and other parameters were selected accordingly so as to finish the work within the given time frame. ? The information given by the respondents might be biased because some of them might not be interested to give correct information. ? The officials of the bank supported me a lot, but did not have sufficient time to make the points more clear. Analysis of Data collected 1. The respondents were asked about which banking sector’s services do their avail. Table1: banking sector’s services which the respondents avail. Banking sector |Number of respondents | |Public |32 | |Private |38 | |Both |30 | Graph 1: Banking Sector’s services which the respondents avails INTERTRETATION:-It was found that most of the respondents were availing services of private sectors banks while those of the public sector banks were less as compare to public sector 2. The res pondents were Asked about the type of account they have in the public sector as well as Private sector banks Table 2. 1 Number of type of account held in Public sectors banks Type of Accounts Name of Account |Savings |Current |Demat |Fixed deposits |Salary | |Total no of respondents |50 |15 |6 |15 |14 | [pic] Graph 2. 1 :- Number of type of accounts held in Public sector banks Analysis: 50% people own Saving Account, 15% own Current account, 6% demat,15% fixed deposits account and 14% salary Account Interpretation: It was found that in case of public sector banks, maximum number of account holders owns Saving Account. After Saving account most prefer account is salary account prefer by people and the next priority goes to fixed deposits Accounts. 3. The basic purpose of this question was to know the most preferred bank. Table 3. Number of respondents preferring different banks Names of Banks |Number of respondents | |ICICI Bank |24 | |HDFC Bank |22 | |State Bank Group |20 | |Pu njab National Bank |28 | |Punjab And Sind Bank |6 | Analysis: From above graph, it is seen that 28% stake of the respondents follows to Punjab National bank followed byICICI bank. It is the bank which provide 12-hour banking. also the ATM machine is more as compared to the other private sector banks. Interpretation : From the above graph, it is seen that Punjab national is the most preferred bank as compared to other Public and Private sector Banks. The reason for preference of public sector bank is the minimum amount of deposit for saving account. 4. The aim to ask this question was to know he reasons for their preference in different banks :- Table 4:- Reason for account in different banks Reasons |No of respondents | |Friendly Behaviour of the Staff |16 | |Reliability/trust |14 | |Quick and fast services |55 | |Location |15 | Graph 4:-Reasons for account in different banks Inpretation: By analyzing this graph, we can conclude that most of the people is influenced by the qui ck and speedy services provided by the bank and location is given less preference than others. 5. The respondents were asked about the facilities they were availing in public as well as private sector banks :- Table 5. Number of people availing different facilities at public sector banks: |Facilities Availed |No of respondents | |ATM/Debit card |60 | |Demat |5 | |Internet/Mobile/Phone Banking |15 | |Insurance |20 | [pic]Graph 5. 1: Number of people availing different facilities at public sector banks Interpretation: From the above graph, it was found that was availed by most of the people at public sector banks was that of ATM/Debit cards which hold 90% of respondents. It is clearly observed by the graph that Insurance are neck to neck holding 20% of respondent each. 6. The purpose of this question is to know the satisfaction level they were having with their banks overall performance:- Public sector banks Table 6. 1 Satisfaction level of the customers regarding the facilities availed from the public sector banks |Level of Satisfaction |No. f respondents |%age | |Excellent |12 |24% | |Good |21 |42% | |Very Good |27 |54% | Graph 6. 1 Satisfaction level of Customers regarding the facilities availed from the public sector banks. Analysis: It was found that in case of public sectors banks, 18% of the respondents were highly satisfied ranked excellent from the products and services availed by them. 44% were just satisfied given very good and 38% have moderate view. Interpretation: People have mixed type of view regarding public sector banks. 7.The respondents were asked that if they have given option, would they like to shift from the present banks:- Table 7 Number of customers ready to shift from present bank. [pic] Graph 7:- Number of customers ready to shift from their present bank or not. Interpretation: From this above Graph, we can conclude that the number of respondents ready to shift from their present bank is 28% while 70% customers seems to be sat isfied from their bank and hence willing to shift from their present bank to other. 8. The aim to ask this question was to know whether the respondents faces any problem regarding the services provided them by their preferred bank :- Table 8 Problem faced by customers. Types of problem |No of respondents | |Time consuming |10 | |Introduction |8 | |Reference |15 | |Too many formalities |6 | |No facility of photograph instantly |4 | |No problem |6 | [pic] Interpretation: It was found that most of the respondents are facing problem of reference. Respondents also find that the time and too much formalities also cause problem in banks. FINDINGS OF THE STUDY More number of people have account with private banks. ? Majority of the respondents whether in public sectors or in private sector banks have savings account with banks. ? Number of problem faced by the people is more in public sector banks. ? People want a change in the behavior of the staff of the public sector banks. ? People are more satisfied form the private sector banks due to their better services provided by them in terms of speedy transactions, fully computerized facilities, more working hours (in case of ICICI bank, the number of working hour are 12), good investment Advisory services, efficient and co-operative staff, better approach to Customer Relationship Management. In private sector banks proper promotional activities should be taken up so as to make the population aware of the services provided by the banks even in rural areas. ? The facility that was availed by most of the people at public sector banks was that of ATM/Debit cards. The least availed facility was that of Demat account and foreign transfer of funds. ? The facility that was availed by most of the people at private sector banks was that of Internet/Phone banking by ATM/Debit card. ? Majority of respondents do not want to shift from their present bank. ? From the above study it is clear that private banks are providing better services than nationalized banks. 5% respondents favored that private banks are providing better services than nationalized banks while 5% respondents are not agree with it. ? From the above study it is clear that majority of the respondents said that the average balance requirement for operating their saving account is between 5000-10000. 20% said it is between 10000-20000 and remaining 5% said it is between 20000-50000 in private sector banks which as compared to Public sector bank is very high. ? 40% respondents said that the bank employees never pay any attention to them and 10% respondents said that their problems are not solved by bank executives. The remaining 50% respondents give a positive reaction in the favour of bank. 0% respondents favoured that their problems are solved by bank executives and 20% respondents said they are received with smile by bank executives. So there is a mix response. ? Majority of the respondents said that the average time taken for transactions i s between 25 to 50 minutes in their bank. 30% respondents said the average time taken for transaction is between 20-25 minutes, 20% said it is between 10 to 25 min. and remaining 10% said that the average time taken for transaction by their bank is 5 to 10 minutes. ? From the above study is clear that the banks do not organize any customer meets. All the 100% respondents said that their bank does not organize any customer's meets to resolve their problems.Customer satisfaction is the demand of time, so the banks should organize customer meets to resolve the problems of their customers. ? From the above study it is clear that majority of the respondents are ready to pay nominal charges for better services provided by private banks while 40% respondents are not ready to pay any nominal charges. ? The above study depicts that 60% respondent said that their bank updates them time to time about the latest facilities and remaining 40% said that their bank doesn't update them. [pic] SUGGES TIONS Based on the study conducted, There are some of the suggestions given by the customers of how the modern banking should be.These are the comment given by them about the improvement of the banking sector in India. ? Banks should obey the RBI norms and provide facilitiesas per the norms, which are not being followed by the banks. While the customer must be given prompt services and the bank officer should not have any fear on mind to provide the facilities as per RBI norms to the units going sick. ? Banks should increase the rate of saving account ? Banks should provide loan at the lower interest rate and education loans should be given with ease without much documentation. All the banks must provide loans against shares. ? Fair dealing with the customers. More contribution from the employee of the bank.The staff Should be co-operative, friendly and must be capable of understanding the problems of customers ? Internet banking facility must be made available in all the banks. ? P rompt dealing with permanent customers and speedy transaction without harassing the customers ? Each section of every bank should be computerized even in rural areas also. ? Real time gross settlement can play a very important role. ? More ATM coverage should be provided for the convenience of the customers. ? No limit on cash withdrawls on ATM cards. ? The bank should bring out new schemes at time-to-time so that more people can be attracted. Even some gifts and prizes may be offered to the customers for their retention. 24 hours banking should be induced so as to facilitate the customers who may not have a free time in the daytime. It will help in facing the competition more effectively. ? The charges for saving account opening are high, so they should also be reduced. ? Customers generally complain that full knowledge is not granted to them. Thus the bank should properly disclose the features of the product and services to the customers. Moreover door to door services can also be introduced by bank. ? The need of the customer should properly be understood so that customer feels satisfied. The relationship value should be maintained. ? The branch should promote cooperation and coordination among employees which help them in efficient working. Maintenance of proper hierarchy should be done. A good hierarchy set up can ensure better results with in the bank. Banking sector is improving by leaps but still it needs to be improved. Proper and efficient relationship staffs having knowledge for one stop banking, customer friendly atmosphere, and better rate of interest are need of the hour. the concept of privatization has overall improved the services in all the banks. Home banking will be order of the day. Recommendations For Public Sector Banks: †¢ Bank staff should be customer friendly and highly motivated to serve the normal customer. †¢ As far as possible, banks should reduce its documentation process while providing loans. Computerization should be done in banks at all level and the operators should de properly trained. †¢ Token system should be induced so as to minimize the waiting lines in the banks. †¢ Proper ambience in the banks can develop a healthy working culture. †¢ Quick services should be provided. For Private sector Banks †¢ 24 hours banking should be induced so as to facilitate the customers who may not have free time in the day time. It will help in facing the competition more effectively. †¢ More ATM coverage should be provided for the convenience of the customers. †¢ Customer care services should be provided by banks. CONCLUSIONThe customers now days are not only exposed of what type of service is being provided by banks in India but in the world as a whole. They expect much more than what is actually being provided. So the new coming banking sector has to provide and cater to all the needs of the customers otherwise it is difficult to survive in the competition coming up. They no t only expect the safety of money but also best ways to invest that money which need needs to be fulfilled. Banks need to have a better outlook towards to actually what customers are requiring. Entries of the private sector banks have made the competition tougher. If a bank is not functioning properly it is being closed. So it is difficult to face these types of conditions.Here a simple philosophy can work that customers are God and we need to follow this to survive and serve better. The banking sector is poised for explosive growth. In this, scenario, it is imperative that banks adopt technology at an aggressive Pace, if they wish to remain competitive. Mani Mamallan makes a case for banks to outsource their technology infrastructure requirement, thus enabling early adoption and increased efficiencies. In the prevailing scenario, a number of banks have adopt a new deployment strategy of infrastructure outsourcing, to lower the cost of service channels. As a result, other banks too will need to align their reinvented business models. The required changes at both the business and technology levels are enormous.In a highly competitive banking markets, early adopters are profiting from increased efficiencies. BIBLIOGRAPHY BOOKS: ? Kothari C. R. (1990) Research Methodology: Method and Techniques; Wishva Prakashan, New Delhi. ? Bodie. Z, Kane. A & Mracus. J : Essentials of Investments. ? Prof. E Gordon & Dr. K. Natrajan â€Å"Banking Theory Law and Practice†. ? â€Å"Indian financial System & Commercial Banking† by Khan Masood Ahmed ? â€Å"Banking in India† by P. N. Varshney WEBSITES: ? www. centurionbop. co. in ? www. pnbindia. com ? www. statebankofindia. com ? www. icicibank. com ? www. rbi. org. in ? www. iba. org. in ? www. knowledgestom. com ? www. igniter. com BROACHERS & PAMPHLETS Broachers and pamphlets of Saving A/c QUESTIONNAIRE â€Å"Comparative Study on public and private sector banks† Dear customer, We are the students of C. T. I. E. M. T. Shahpur, Jalandhar. We are undergoing the project entitled named â€Å"Comparative Study on public and Private sector banks† So by filling this questionnaire please helps us in completing our project. Q1. Which Sector bank do you have your account? Public (Private( Both ( Q2. In which bank do you have your Account? 1. 2. 3. 4. Q3. Which type of account do you have in the bank? Saving ( Current ( Demat ( F. D ( Salary (Q4 In Case you have yours Account in more than one a Bank which one is your most preferred bank (Give only one bank) Q5. Rank the selection criteria for opening account with bank? Brand Image (Services ( Location ( Charges ( Q6. Kindly rank the reasons for yours preference in this particular bank? Quick and fast services (Location ( Friendly Behavior ( Reliability ( Q7. Which facilities are you availing at your bank? Atm/Debit card ( Credit card ( Insurance ( Mobile Banking ( Q8. How often do you use debit card to shop? Occasionally(Never( Q9. How much Satisfied are you with your bank’s overall performance ? Excellent(Very Good(Good ( Q10. Any Specific services you expect from your bank ? Q11. If an option is given to you, would you like to shift from the present Bank? Yes ( No ( Q12. Do you face any problem regarding the services provided by your preferred bank? If Yes Q13. Would you like to give any suggestions for the better functioning of banks in these sectors? Public Sector Private sector 16. Any other suggestions please specify ? ____________________________________________________________ ____________________________________________________________ Thanks for your valuable time given to us .We assure you that the information provided by you will remain confidential. Thanks for your co-operation. PERSONAL DETAILS. 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