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An internship is on-the-job training for many professional jobs, similar to an apprenticeship, more often taken up by college and university students during his undergraduate or master degree in their free time to supplement their formal education and expose them to the world of work.
Get original essayInternships offer various occasion to interns during internship programs to expand familiarity in their choose area of work , to find out what they have an importance in an exacting in specific line of business, develop professional network links, build interpersonal skill or get some credit points if it’s a sandwich course they are in.
Employers too benefit from an internship arrangement as it gives access to interns with some skills to execute relevant tasks for the employer. Many interns end up with permanent service with the same organization in which they are interned. Their worth to the organization may be greater than before by the fact that they require modest or less training.
An internship may be compensated, non-compensated or some time to some extent paid. Internships may be part-time or full-time; in general, they are part-time during the academy year and full-time in the summer vacations. They usually last for six weeks to two months, its tenure varies from organization to organization, and it may be shortening or long based on the organization for which they intern.
Since the 1990’s economic reforms in India, that’s brought a sea change in business and academic culture, internships have found a prominent place in the life of a business and management studies. An increasing presence of multinational companies, rapid economic growth, and globalization, individual’s aspirations, urbanization have all influenced the role and desirability of internships.
In my summer internship, I have worked in various branches of Bangalore City Co-operative Bank Limited for a period of 8 weeks from 17th May 2018 to 14th July 2018.
This report is a short description of my 8 weeks internship carried out as a compulsory component of MBA Programme, Jain University. The internship was carried out within the organization: Bangalore City Co-operative Bank Ltd, Bangalore.
How they process loans, how to verify the loan and advances files and documents, what are their investments products etc. were understood practically.
In this organization study an attempt is made to analyze the banking process at Bangalore City Co-operative Bank Limited, how do they mobilize investments and advances and their financial position.
The word bank originated the French word conqueror Italian bank which means an office for a monitory transaction over the counter. In those days or desks were used as centers for monitory transactions. During the barter system also, there existed traces of banking, i.e. people used to deposit cattle and agricultural products in specified places get loans to get loans of some other form in exchange for these. There is solid evidence found in records excavated form Mesopotamia, showing some bank existed around a standard for valuation.
Greece was the first country to introduce a satisfactory system of coinage. After the invention of Coins started, a meaningful system of banking came into existence taking into account all the avenue of banking a credit system. Rome was the first country to start a bank at the department of state level in the 4th century B.C. with transactions such as depositing and investments in other forms. In India, ancient records show that banking was popular and money lending was a common practice among the common people. In the olden days Goldsmith, merchants and money lenders conducted the business. They had transactions among themselves by which funds were transferred from one business firm to another. They had no general or uniform principles of banking, lending, the rate of interest, etc.
A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly or through capital markets. A bank connects customers that have capital deficits to customers with capital surpluses. Due to their critical status within the financial system and the economy generally, banks are highly regulated in most countries. They are generally subject to minimum capital requirements which are based on an international set of capital standards, known as the Basel Accords.
Banking in India originated in the last decades of the 18th century. The first banks were The General Bank of India, which started in 1786, and Bank of Hindustan, which started in 1790; both are now defunct. The oldest bank in existence in India is the State Bank of India, which originated in the Bank of Calcutta in June 1806, which almost immediately became the Bank of Bengal. This was one of the three presidency banks, the other two being the Bank of Bombay and the Bank of Madras, all three of which were established under charters from the British East India Company. For many years the Presidency banks acted as quasi-central banks, as did their successors, then the nationalization of banks in 1969 liberalization in 1991. In India, the Banking sector is segregated as public sector banks, private sector banks, and co-operative banks. Banks in India can be categorized into non-scheduled banks and scheduled banks constitute of commercial banks. There are about 67,000 branches of scheduled banks across India. During the first phase of financial reforms, there was a nationalized of 14 banks in 1969. The crucial step led to a shift from class banking to mass banking. Since then the growth of the banking industry in India has been a continuous progress.
As far as the present scenario is concerned the banking industry in a transaction phase. The public sector banks (PSBs), which are the foundation of the Indian banking system account for more than 78% of the total banking industry assets. The banking industry has revolutionized the transactions and financial services system worldwide. Through the development of technology, banking services have been availed to customers at all times, even after the normal banking hours. Banking industry services are nothing but the access to most of banking related services verification of account details, going with the transaction, etc.
The Indian banking sector is broadly classified into scheduled banks and non-scheduled banks. The scheduled banks are those included under the 2nd Schedule of the Reserve Bank of India Act, 1934. The scheduled banks are further classified into nationalized banks, State Bank of India and its associates, Regional Rural Banks, foreign banks and other Indian private sector banks. The term commercial banks refer to both scheduled and non-scheduled commercial banks regulated under the Banking Regulation Act, 1949.
Generally banking in India is fairly mature in terms of supply, product range and reach-even though reach in rural India and to the poor still remains a challenge. The government has developed initiatives to address this through the State Bank of India expanding its branch network and through the National Bank for Agriculture and Rural Development (NABARD) with facilities like microfinance.
Sec 5(1) (b) defines banking as accepting for the purpose of lending or investments of deposits of money from the public repayable on demand or otherwise and withdrawal by cheque, draft, and order or otherwise
Banking plays a very important role in the economic development of a country. They touch every aspect of the modern banking. Some of the important roles played by banking for the development of Indian economy are as follows.
The Indian banking system consists of 27 public sector banks, 21 private sector banks, 45 foreign banks, 56 regional rural banks, 1,589 urban cooperative banks and 93,550 rural cooperative banks, in addition to cooperative credit institutions.
As per the Reserve Bank of India, India’s banking sector is sufficiently capitalized and well regulated. The financial and economic conditions in the country are far superior to many other countries in the world. Credit, market, and liquidity risk studies suggest that Indian banks are generally resilient and have withstood the global downturn well.
Indian banking industry has recently witnessed the roll-out of innovative banking models like payments and small finance banks.
The main functions are as follows:
The central bank of the country is the Reserve Bank of India (RBI). It was established in April 1935 with a share capital of Rs. 5 crores on the basis of the recommendations of the Hilton Young Commission. The share capital was divided into shares of Rs. 100 each fully paid which was entirely owned by private shareholders in the beginning. The Government held shares of nominal value of Rs. 2, 20,000. Reserve Bank of India was nationalized in the year 1949. The general superintendence and direction of the Bank is entrusted to Central Board of Directors of 20members, the Governor and four Deputy Governors, one Government official from the Ministry of Finance, ten nominated Directors by the Government to give representation to important elements in the economic life of the country, and four nominated Directors by the Central Government to represent the four local Boards with the headquarters at Mumbai, Kolkata, Chennai and New Delhi. Local Boards consist of five members each Central Government appointed for a term of four years to represent territorial and economic interests and the interests of co-operative and indigenous banks.
The Reserve Bank of India Act, 1934 was commenced on April 1, 1935. The Act, 1934 (II of 1934) provides the statutory basis of the functioning of the Bank.
The Bank was constituted for the need of following:
The Reserve Bank of India Act of 1934 entrust all the important functions of a Central bank Bank of India.
Indian banks are increasingly focusing on adopting an integrated approach to risk management.
Banks have already embraced the international banking supervision accord of Basel II.; interestingly, according to RBI, the majority of the banks already meet capital requirements of Basel III, which has a deadline of 31 March 2019.
Most of the banks have put in place the framework for asset-liability match, credit & derivatives risk management.
Total lending has increased at a CAGR of 12.38 percent during FY07-17 and total deposits have increased at a CAGR of 10.08 percent, during FY07-17 & are further poised for growth, backed by demand for housing and personal finance.
As of February 2017, the total number of ATMs in India increased to 207,402 & is further expected to double over next few years, thereby leading to increase in the number of ATMs per million people in India from 105 in 2012, to about 300 by 2017.
New trends like UPI, Digital Payments are widely being used by the public.
RBI has emphasized the need to focus on spreading the reach of banking services to the unbanked population of India.
Indian banks are expanding their branch network in the rural areas to capture the new business opportunity. According to RBI, 490,000 unbanked villages were identified & allotted to banks for coverage under the second phase of Pradhan Mantri Jan Dhan Yojna.
With the entry of foreign banks, competition in the Indian banking sector has intensified
Banks are increasingly looking at consolidation to derive greater benefits such as enhanced synergy, cost takeout’s from economies of scale, organizational efficiency & diversification of risks
RBI Deputy Governor said that since demonetization the Central Bank has collected over US$ 185.81 billion in demonetized notes from various bank branches
The effects of demonetization are also visible in the fact that bank credit plunged by 0.8 percent from November 8 to November 25, as US$ 9.85 billion was paid by defaulters. As per RBI, a total of US$ 125.53 billion was deposited in banks till November 27, 2016.
As of March 2017, debit cards have radically replaced credit cards as the preferred payment mode in India, after demonetization. As of October 2016, debit cards garnered a share of 42 percent of the total card spending, which increased to 60 percent, post demonetization.
A key objective of Pradhan Mantri Jan Dhan Yojana (PMJDY) is to increase the accessibility of financial services such as bank accounts, insurance, pension, credit facilities, etc. mostly to the low-income groups.
Under the Jan Dhan Yojana, as on April 5, 2017, 282.3 million new accounts were opened & around US$ 9,515.30 million was deposited with the banks under this scheme.
As on November 9, 2016, 194.4 million ???Rupay’ debit cards were issued to users
Real Time Gross Settlement (RTGS) and National Electronic Funds Transfer (NEFT) are being implemented by Indian banks for fund transaction
Securities Exchange Board of India (SEBI) has included NEFT & RTGS payment system to the existing list of methods that a company can use for payment of a dividend or other cash benefits to their shareholders & investors.
RBI mandated the Know Your Customer (KYC) Standards, wherein all banks are required to put in place a comprehensive policy framework in order to avoid money laundering activities
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Get custom essayThe KYC policy is now mandatory for opening an account or making any investment such as mutual funds.
The purpose of this report is to analyze the background information of Indian and relative of Indian cuisines, including the geographical, current daily food, cooking methods, regional variations, influence of religions, celebratory meals, and culture. Then shows how those relevant influences on migration patterns and Australian food culture.
Get original essayIndia is located in the Asian continent, it is the world's seventh largest country, located in the Indian plate, and covers an area of 3,28 million square kilometers. India's neighbor countries are Pakistan, Bhutan, Nepal, and China among other countries. The geography of India is very diverse and its ecosystem diversity and Plantae diversity is enormous. Due to the diversity of Plantae, Indian cuisine is characterized by the extensive use of various spices and herbs. India has an extraordinary variety of climatic regions but tropical wet and dry climate consist more relatively. Winter is starting from December to February, summer is from March to May. India is the second most populous country in the world with a population of more than 1.3 billion, making it a densely populated country, according to World Meters data on July 1, 2019. India has twenty-nine states and seven federations. New Delhi is the capital of India, and Gujarat is one of the most prosperous states in western India. There are hundreds of languages in India, 23 are officially recognized, and Hindi and English are widely spoken. Hindus make up more than 80 percent of India's population, while Muslims make up about 10 percent.
Indian cuisine is known for being diverse, ancient, and traditional. There are differences of dishes between regions, each region has their own traditional foods and culinary characteristics. However, most staple foods are homogeneous in India. The majority of staple foods in Indian cuisine are included rice, potato, a variety of lentils, meat, vegetables, roti, and bread combined with different spices and herbs. India's staple foods diet is very salubrious as vegetables and wheat occupy the most consumption and meat is eaten in smaller quantities. Fruits and vegetables have been the foundation of Indian diets. The most commonly eaten meats are chicken and lamb.
One of the most important parts of Indian cuisine is the extensive use of spices and herbs. They are very important in Indian cooking. “That's the Indian in me - you must put spices on everything. That was our medicine. That was the cure-all.“ Aasif Mandvi. The most frequently used spices are chili pepper, cardamom, turmeric, coriander, and garlic, etc. Cinnamon is often utilized in curries to give an opulent flavor. Cloves are used as a mouth freshener. The mixture of spices and condiments is called Masala. Garam masala is one of the most popular spices and usually contains seven different spices. Most Indian families have their own spice box called Masala Dabba. Desserts are often flavored with cardamom, saffron and rose petal extracts, etc.
Indian cooking methods are not much different to those normally used, such as frying, simmering, steaming, tandoori (baking in a special Indian oven). Many dishes often use between three to six kinds of cooking methods. Conventionally starting from tempering the spices and herbs, followed by frying or sauteing other ingredients, then continuing the process with other cooking methods.
India is a country with has more than two thousand ethnic groups and diverse climatic and geographical patterns. The distinct food habits in each region are predicated on the environmental varies across the regions. The cuisine is broadly classified into North Indian and South Indian styles, they depend on the local production and native cultures of the region. Fewer spices are used in cuisines in North-East India. Fish, Bombay prawns, and beef are eaten commonly in North-East India and coastal areas. Rice is a staple food in North Indian cuisine such as Indian butter chicken with rice. East Indian cuisine is predominant with fish and mostly non-vegetables. Sweets are renowned in East India, the sweetness of desserts is lighter than in other regions, and the famous dessert is creamy rice pudding. North and Central India cuisines are predominant with wheat and rice with butter-rich flavor. South Indian cuisine is typical in the use of coconuts, spices, curry leaves, and roots for flavoring. For instance, sweetened coconut milk and dosa. Many Indian dishes are cooked in vegetable oil. However, peanut oil is more popular in north and west India. Coconut oil is often used in the west coast, particularly in Kerala. Sesame oil is common in the south. Coffee and tea are equally common in the different regions of India.
Indian culture and religion play an important role in the development of Indian cuisine. Their belief in respect for lifeforms and it facilitated a vegetarianism community in India. Hinduism is the majority religion in India which make up over 80 percent of India's population. They treat the cow as an inviolable animal because the cow is seen as part of the family that is given maternal love. Therefore, any dairy products that from cows are regarded as auspicious in an Indian dish. It also affects on Indian diet is that the main sources of their daily protein are absorbed from lentils and beans and not from dairy from cows. On the other hand, Muslims is taboo to eat pork because in Muslims bible says “And the pig, though it has a divided hoof, does not chew the cud; it is unclean for you. You must not eat their meat or touch their carcasses; they are unclean for you” Leviticus 11:-7–8, Holy Quran. Muslims regarded pork as impure and harmful food. In the the12th century, Muslims were the authority in India and it began to impact Indian cuisine. The main difference between Muslims and Hinduism diets is the consumption of meat and fish. Muslims are now widely become part of the Indian tradition.
Food festivals are characteristic of Indian society. Indian prepared a variety of dishes from vegetarian dishes to non-vegetarian dishes during the festivals. Desserts are indispensable cuisines in Indian festivals such as mithai and sweets made from cheese or milk. There are some popular food festivals in India such as the national street food festival, the Asian Hawkers festival, Goa food festival so on. The great Indian food festival represents the most popular food festival in India, more than twelve states will be participate. Pongal is a harvest festival which is considered one of the most important festivals for Hindus in a year, it celebrates the harvest of rice, sugar cane and turmeric. As the second largest producer of fruit in the world, India has more than one thousand mango varieties, international mango festivals held in summer, and Indian celebrate with mango eating competitions and mango carving. Another important festival in India is Durga Puja, the holiday will continue for five days, and Indians will dance and visit Pandals. There is a Durga Puja menu called Bhoger Khichdi which means pure vegetarian, this dish is offered to god, therefore, it must be pure, even garlic and onions are not allowed. Other celebratory meals during festivals are steamed hilsa fish, mutton kebab, rice flour, and bananas so on.
Some of the Indian cuisines are very similar to Mexican diet, chilies and most of the spices are widely used in both countries. Mexican Tortillas are similar the Rotis of India. On the other hand, rice and bread are the staple foods in the northern part of China, the same as India. In addition, northern Chinese cuisines are usually in heavy flavor. Spices and herbs are widely used for flavoring foods also for Chinese herbal medicine. This is very similar with Indian cuisine.
Every country has its own unique aspect of culinary culture, for instance, Chinese eat with chopsticks, Americans have Thanksgiving Day and Indians eat with hands. In India, holding food with fingertips is a sign of respect for the host and god, fingers dyed is considered impolite. In India, Ayurveda is an ancient dietary and therapeutic science that remains by the most widely used form of medicine in the country. For instance, cardamom are added to cuisines to relieve heartburn. Some unusual types of cuisines are frog legs, red ants chutney, steamed hornets and pig brain.
Aboriginals were the original inhabitants for thousands of years. In the nineteenth century, the first settlers of Australia were British prisoners, then following by the Gold Rush Era in the 1850s. Large quantities of gold were found in Australia and around 80,000 of Britons and Chinese were settled down to mine for gold. In the 1970s, 200,000 Vietnamese and Chinese refugees were resettled in Australia after the Vietnam war. There are over 6.9 million of immigrants population nowadays and they brought their culinary traditions. Almost every kind of food can be found in Australia. Australians are willing to adopt different kinds of recipes, many Australian cuisines fusion with European cooking styles with Asian flavors, it is a product of multicultural. But as a British colony, British cuisines is mostly liked by Australians. Therefore big breakfast, fish and chips, pies and steaks are popular.
India has impacted the food culture in Australia intensely. Australia's food culture was influenced by the British, and India was part of the British Empire in the early stage. Therefore some Australians had some basic knowledge of curry. Along with the increase of immigration of Indians, Indian food also has begun to rise in Australia. For instance, Indians fusions British black tea with added milk and sugar and created chai. India spices have also had an impact in Australia. Coles and Woolworth as the most popular supermarkets for Australian households can now see Indian spices and food on their shelves. Among those products, Indian spices are especially popular among Australians. India as the world's largest producer of spices, use different spices to satisfy people’s tastes around the world. Places, where Indians congregate, are filled with Indian restaurants and markets. The well-known Indian dish curry has even become a staple food of Australia. Curry has become an indispensable existence in some households. Besides, Australians have begun to use Indian spices skillfully and have combined with the traditional cuisines to create new cuisines and tastes.
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Get custom essayIn conclusion, Indian food culture is influenced by geographical location and religion. Indian cuisine extensive use of spices and they eat with their hands. Since large quantities of Indians have migrated to Australia and brought their culinary traditions, Indian and Australian food cultures integrate successfully, they eventually merge with each other to form new cuisines.
Indian culture has become a part of many people's lives here in Canada. The arts have played a massive role in many Canadian South Asian's lives. From helping isolated kids born in Canada to build a community and reconnect with their culture to making immigrants children's lives more comfortable as they are transitioning into a new society. Most importantly, it gives South Asian students an escape from the racism they face daily. Growing up, I used classical Indian dance and music to express myself in a way only other students of the arts would understand.
Get original essayIndian classical dance, also known as Shastra Nritya, is a term for various performance arts rooted in religious Hindu musical styles. You can trace the theory, origin, and practice of classical dance can be traced back to Sanskrit text. There are about eight recognized classical dances; however, depending on the source and scholar, this could vary.
Most people that practice classical Indian dance recognize the following eight Bharatanatyam, from Tamil Nadu, Kathak from Uttar Pradesh, Kathakali from Kerala, Kuchipudi from Andhra Pradesh, Odissi from Odisha, Pattaya from Assam, Manipur, from Manipur, and Mohiniyattam, from Kerala. As you can see, the dances are traditionally regional, and all of them include specific music and recitation in the local language or Sanskrit. They all represent the unity of core ideas in a diversity of styles and expressions.
Indian classical music is the major type of music from the Indian subcontinent. It has two major divisions: The North Indian style of classical music called Hindustani and the South Indian style of music is called Carnatic. These styles did not become distinct until about the 16th century, during the period of Islamic rule in India. The styles of music became more distinct and separated after this time period. Hindustani music is known to emphasize the improvisation of all aspects of raga, which is the central concept of Indian music. While Carnatic music tends to be short and based on compositions, both styles have more features in common than differences.
The practice of the Indian classical arts has helped many people cope with their differences here in Canada. Personally, dance and music have both enabled people in my family to feel more comfortable here in a new country. Indian classical music and dance have helped many Canadian South Asians to embrace their culture and make an easier transition into a modern society.
Natya Shastra, the Sanskrit text on performing arts, expressed the foundations of classical dance in India. The book can be attributed to Bharata Muni, ancient Indian musicologists, according to Harold Schramm's Musical Theatre in India. The most well-known version of the Natya Shastra text consists of about six thousand verses structured into thirty-six chapters.
The document describes the theory of bhava, expression, gestures, acting techniques, necessary steps, and standing postures, all of which play a huge role in Indian classical dance. According to Mirror of Gesture, written by Ananda Coomaraswamy and Gopala Kristnayya Duggirala, 'dance and performance arts, states this ancient text, is a form of expression if spiritual ideas, virtues and the essence of scriptures.'
Though the Natya Shastra is the revered ancient text in the Hindu religion, many other ancient Sankrit texts relate to dance. They further discuss the classical performance arts, such as the Abhinaya Darpana, Abhinaya Bharati, Natya Darpana, Bhava Prakasa, and many others, which are seen in Mandakrants Bose's Movement and Mimesis: The Idea of Dance in the Sanskrit Tradition. Indian classical dances are traditionally performed as an expressive form of religious performance related to the pan-Hindu Epics and Vedic literature or even a folksy entertainment that includes storytelling from Sanskrit or regional language plays.
They are either performed inside Hindu temples or near it as a religious art form. It can also be performed as entertainment at weddings, in royal courts, and even at festivals, as mentioned before, there are about eight types of Indian classical dance. However, there are specifically six types that are seen performed in Canada today; these beautiful dances are typically what we see.
The roots of classical music in India are mostly found in the Vedic literature of Hinduism. It can also be found in Natya Shastra, similar to traditional Indian dance. According to Rens Bod's A New History of the Humanities: The Search for Principles and Patterns from antiquity to the Present, the 13th century Sanskrit text Sangrita-Ratnakara of Sarangadeva is regarded as the definitive text by both Hindustani music and the Carnatic Music styles. Two foundational elements are found in Indian classical music, raga, and tala.
The raga forms the fabric of a melodic structure, while the tala measures the time cycle. An artist can build melody from sounds using raga and tala provides them with a creative framework for improvisation. In Indian classic, the space between the notes is often more important than the notes themselves, and it does not follow western artistic concepts like harmony, counterpoint, chords, or modulation. There are two major divisions in Indian classical music.
Here in Canada, many South Asians continue to practice both art forms. Bharatanatyam in specific is something we see here in Canada through teachers who have traveled from India to come to teach here and spread the culture. The same goes for Carnatic music; I have taken classes since I was in first grade.
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Get custom essayThe classes let me embrace my culture and helped me want to learn more about my culture, which is why I decided to take this class. Classical Indian dance and music have deep roots within South Asia. With its connection to the great epics Ramayana and Mahabharata, its roots in the Sanskrit language, and its link to the Vedic texts, it has appeared in everything we have seen in our class. The arts have helped me and many other South Asians embrace their culture.
The Indian financial system can be broadly classified into the formal (organized) financial system and the informal (unorganized) financial system.
Get original essayThe formal financial system comes under the purview of the Ministry of Finance (MOF) Reserve Bank of India (RBI), Securities Exchange Board of India (SEBI) and other regulatory bodies.
The informal financial system consists of:
Formal financial system consist of four segments, these are financial institutions, financial markets, financial instruments and financial services.
Financial institutions are intermediaries that mobilize the savings and facilitate the allocation of funds in an efficient manner. Financial institutions are classified as banking and non banking financial institutions. Banking institutions are creator of credit while non banking financial institutions are purveyors of credit. In India non banking financial institutions namely the Development Financial Institutions (DFIs) and Non Banking Financial Companies (NBFCs) as well as Housing Finance Companies (HFCs) are the major institutional purveyors of credit. Financial institutions are further classified as Term Finance Institutions such as Industrial Development Bank of India (IDBI), Industrial Credit and Investment Corporation of India (ICICI), Industrial Financial Corporation of India (IFCI), Small Industries Development Bank of India (SIDBI) and Industrial Investment Bank of India (IIBI). Specialized finance institutions like the Export Import Bank of India (EXIM), Tourism Finance Corporation of India (TFCI), ICICI Venture, Infrastructure Development Finance Company (IDFC) and sectoral financial institutions such as National Bank for Agricultural and Rural Development (NABARD) and National Housing Bank (NHB). Investment institutions in the business of mutual funds (UTI, Public Sector and Private Sector Mutual Funds) and insurance activity (LIC, GIC and 67 its subsidiaries) are also classified as financial institutions. There are state level financial institutions such as State Financial Corporation and State Industrial Development Corporation (SIDCs) which are owned and managed by the State Governments.
Financial markets are a mechanism enabling participants to deal in financial claims. Money market and capital market are the organized financial markets in India. Money market is for short term securities while capital market is for long term securities. Primary market deals in new issues, the secondary market is meant for trading in outstanding or existing securities.
Financial instrument is a claim against a person or an institution for the payment at a future date a sum of money or a periodic payment in the form of interest or dividend. Financial instruments may be primary or secondary securities. Primary securities are issued by the ultimate borrowers of funds to the ultimate savers e.g. Bank Deposits, Mutual Fund Units, Insurance Policies, etc. Financial instruments help the financial markets and the financial intermediaries to perform the important role of channelising funds from leaders to borrowers.
Financial services include merchant banking, leasing, hire purchase, credit rating etc. Financial services rendered by the financial intermediaries’ bridge the gap between lack of knowledge on the part of the investors and increasing sophistication of financial market and instruments.
The four components are interdependent and they interact continuously with each other. Their interaction leads to the development of a smoothly functioning financial system. Savings and Investment Saving is abstaining from present consumption for a future use. Savings are sometimes autonomous coming from households as a matter of habit but the bulk of the savings come for specific objectives like interest on income, future needs, contingencies, precautionary purposes, growth in future wealth, leading to rise in the standard of living etc. Investment is the exchange of the money or cash for a future claim on money or the purchase of a security or a promise to pay at a later date along with a regular income as in the case of a share, bond, debenture etc. Investment is also a service like consultancy, construction, hotel or hospital and services in future as in the case of consumer durables.
Securities purchases are investment for the economy and some investments are offset by corresponding disinvestments. Gross investments are total investments made from all sources by an economy or a single economic unit and net investment are those which are gross investment minus disinvestments for an economic unit. Gross Assets and Investments minus Depreciation for the economy or a company or corporate sector or government sector is net investment, which is termed as capital formation. 69 Changes or fluctuations in economic activity may occur when investment spending is greater or smaller than the savings at a given level of income. The resources going into the productive process, i.e. capital formation, may have direct relationship with economic growth. All economic activities – agricultural, industrial or services – depend on the availability of financial resources. The amount of financial resources and the volume of capital formation depend upon the intensity and efficiency with which savings are encouraged, gathered and directed towards investment.
The investment purpose of public may be set out in terms of their savings for:
The income is divided into two components namely Consumption and Investment. The amounts not consumed are saved and invested. Investments are also useful for present and future consumption in the case of consumer durables, cars, gold and silver etc. Investments generally promote larger 70 consumption in future as they lead to more income and larger capital appreciation in the years to come. Investment and speculation Purchases of assets like shares and securities can be for either investment or speculation or for both. Investment is long term in nature while speculation is short term. All investments are risky to some extent but speculation is most risky as it involves short term trading, buying and selling which may lead to profits sometimes and losses at other times.
The savings at household sector which account for the bulk of savings are measured by the total financial savings and savings in physical assets. The savings in financial form include savings in currency, bank deposits, non bank deposits, life insurance funds, provident and pension funds, claims on government, shares and debentures, units of UTI, mutual funds and trade debts. The currency and deposits are voluntary savings and motivated by transactions and precautionary motives and are governed by income and other incentives. The savings in life insurance, provident fund and pension fund are contractual savings governed by precautionary and contingency motives. The claims on government are compulsory deposits, tax credits and investment in government bonds, etc. The savings in the form of units, shares and debentures etc are 71 voluntary savings and are used for investment in the business sector directly or indirectly. The gross savings of the household sector is around 19 percent of the GDP. This constitutes more than one third is in physical assets and three fourth in financial assets. The savings in physical form include agricultural implements, tools, tractors, consumer durables, gold, silver etc among the rural households and such items as real estate, buildings etc among all households. The savings in physical form are less productive while savings in financial form are more productive in various degrees depending on the efficiency of their rise. The household sector in India has emerged as the single most important contributor to Gross Domestic Savings. A sustained annual growth rate of 10 percent can be achieved with the right policies aimed at increasing the domestic savings on the one hand and attracting a larger flow of capital from abroad, on the other.
There is large number of investment avenues for savers in India. Some of them are marketable and liquid while others are more risky and less safe. Risk and return are the major characteristics which an investor has to face and handle. The investor has to choose proper avenues from among them 72 depending on his objectives, preferences, needs and abilities to take the minimum risk and maximize the returns. Return Return being prime mover to induce investment and probably is one to sustain it. Market participants are always tempted to scout for better investment alternatives for higher return or yield. But the measurement of investment return has an uphill task with investment literature because presence of idiosyncratic variables with regard to periodicity of return measurement and performance – return horizon. If the two coincides (which never do) the measurement criteria become very simple and straightforward. Risk Commensurate to investment objectives risks distracts investment flows with added agility. Conservatism is embedded in investors psychological texture while making investment decisions. Portfolio investment is primarily designed to mitigate risk through diversification.
Risk and returns are positively related variables. These go along in the investment process: A higher return is always accompanied with a larger risk so that lower risk yields lesser return. Under such circumstances investors face dilemma as to preference for one and distraction for other. Therefore one is 73 destined to face the drama orchestrated by the risk return duo. Preference for one over the other determines the contour of investment philosophy followed by investors and fund managers. A conservative investor pre-empts risk reduction over return magnifications and thus search for such investments alternatives commensurate with given level of risk tolerance. Aggressive investors on the other hand pay more weight to return magnification and readily been the risk accompanied thus scout for investment alternatives commensurate on this risk return tolerance and preference. The investor has to choose proper avenues from among them depending on his objectives, preferences, needs and abilities to take the minimum risk and maximize the returns.
The financial investment avenues are classified under the following heads:
Recent Trends in Indian Securities Market Transfer of resources from those with surplus resources to others who have a productive need for them is perhaps the most efficiently achieved through the securities markets. Securities market provide channels for allocation of savings to investment and thereby decouple these two activities. As a result, the savers and investors are not constrained by their individual abilities, but by the economy’s abilities to invest and save respectively, which investably enhances savings and investments in the economy. Securities markets channel the savings to the most productive investments which increases the rate of return on investments. Thus the securities market fosters economic growth by augmenting the quantities of real savings and capital formation from any given level of national income and also by raising the productivity of investments by improving allocation of investible funds.
The securities market has two interdependent and inseparable segments, the new issues (primary) and the stock (secondary) markets. The primary market provides the channel for scale of new securities while the secondary market deals in securities previously issued. The prime signals, which subsume all information about the issuer and his business including associated risk, generated in the secondary market, help the primary market in allocation of funds. The issuers of new securities in the primary market to raise funds for investment and/ or to discharge some obligation. They do so either through public issue or private placement. It is a public issue if any body and everybody can subscribe for the securities. If the issue is made to select people, it is called private placement. If the securities are issued exclusively to the existing shareholders it is called ‘rights issue’. If a public issue of the offer is made to public at large. There are two major types of issuers who issue securities. The corporate entities issue mainly debt and equity instruments (shares, debentures, etc) while the governments (central and state governments) issue debt securities (dated securities and treasury bills).
The securities market has essentially three categories of participants, namely the issuers of securities, the investors in securities and the intermediaries. The issuers and the investors are the consumers of services rendered by the intermediaries while the investors are consumers of securities issued by the issuers. Those who receive funds in exchange of securities and those who receive securities in exchange for funds often need the reassurance that it is safe to do so. This reassurance is provided by law and custom often enforced by the regulator. The regulator ensures a high standard of service from the intermediaries and supply of quality securities and non manipulated demand for them.
In the Indian context the regulators have an additional 76 responsibility of developing the market and also the responsibility of protecting the interest of investors in securities. There are three main sets of entities depend upon securities market. The corporate and governments raise resources from the securities markets to meet their needs of investment and the households invest their savings in the securities. During 2003-04, corporate sector and governments together raised a total of Rs.267660 crores from the securities market while the household sector invested Rs.2254 crore of their financial savings through securities market. The central government and the state governments nowadays finance about two third and one third of their fiscal deficits respectively through borrowings from the securities market. Corporate sector finances about one third of its external finance requirements through the securities market. The household invest about six per cent of their financial savings in securities.
The societies for capital market research and development carries out periodical surveys of households to estimate the number of investors. The first survey was carried out in 1990 which placed the total number of share owners at 90-100 lakh. Their second survey estimated the number of share owners at around 140-150 lakh by mid 1993. Their latest survey estimates the number of share owners at around 2 crore by 1997 end. Approximately half of the share owners at the end of 2000 had, for the first time entered the market.
According to the first SEBI-NCAER survey of Indian investors 1999, an estimated 12.8 million or 7.6% of all Indian households representing 19 million individuals had directly invested in equity shares and debentures at the end of financial year 1998-1999. More than 156 million or 92% of all Indian households were non investor households who did not have any investments in equity/debentures. The lack of awareness about securities market and absence of dependable infrastructure and distribution network coupled with aversion to risk prevents the non-investor households from investing in the securities market. An estimated 15 million (nearly 9%) of all households representing at least 23 million unit holders had invested in units of mutual funds.
According to the second SEBI-NCAER Survey conducted in late 2000, 13.1 million or 7.4% of all Indian households representing 21 million individuals directly invested in equity shares and or debentures during the financial year 2000-2001. There were 19 million unit holders who had invested in units of MF’s in 2000-01. Of the 48 million urban households an estimated 8.8 million households (18%) representing 13 million urban investors owned equity shares and/or debentures. Of the 121 million rural households only about 4 million households or 3% representing nearly 6 million rural investors owned these instruments. An indirect but very authentic source of information about distribution of investors is the database of beneficial accounts with the depositories.
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Get custom essayAt the end of March 2004 there were 5.2 million and 0.6 million beneficial accounts with the National Securities Depository Limited (NSDL) and Central Depository Services (India) limited (CDSL) respectively. Average annual capital mobilization by non government public companies from the primary market is about Rs.70 crore in 1960s and about Rs.90 crore in the 1970s, increased manifold during the 1980s, with the amount raised in 1990-91 being Rs.4312 crore.
Richard Wagamese’s novel Indian Horse illustrates the traumatic experiences of Saul Indian Horse through the events at a residential school, where Saul and other Native American children are forcefully assimilated into Canadian culture. The experience of forced assimilation plants a poisonous seed in Saul’s mind, and nearly destroys his entire future. The progression of the story reveals the long-lasting effects of forced assimilation and that they function as the cause of Saul’s suffering trauma.
Get original essayIn the beginning of the novel, Wagamese relates the forceful adoption of First Nations children through the descriptions of Saul’s parents: “The spectre lived in the other adults too, my father and my aunt and uncle”. At the time, it was a common occurrence for Native Americans to be forcefully taken to residential schools. The first victim Saul witnesses is his sister Rachel; she is taken away from the family at the age of six. Afterwards, his brother Benjamin is grabbed. A few years later, his grandmother Naomi dies while holding Saul in her arms just before Saul is sent to St. Jerome’s residential school. This scene is particularly significant in terms of trauma. Naomi represents the traditionally native side of Saul: “I reached out to her, shouting in a mixture of Ojibway and English... But instead I was borne away... and I was cast adrift on a strange new river”. Her death while holding Saul in her arms represents the loss of the native culture in Saul (Robinson 93). Such forced assimilations occurred at dozens of schools like St. Jerome’s: “These mission schools aimed to assimilate Indigenous people by using Christianity to ‘civilize’ the ‘savages’” (Neeganagwedgin 32). Saul and other Native American are harshly washed with soap, and their hair is shaved; when one of the children disobeys the Sister, he is violently struck with a paddle. The effects were long lasting and brutal; in the novel, they continue to manifest in Saul’s life, surfacing in different forms.
While Saul tries to survive in St. Jerome he discovers hockey. Wagamese characterizes Saul’s enthusiasm in hockey in a way that it generates hope, both for Saul and the reader. However, it seems as if Wagamese intended to illustrate this period of story in such hopeful and joyful way so that the dark sides of Saul’s traumatic experiences could be forgotten: “It’s like watching you walk into a secret place that no one else knows how to get to” the author suggests that hockey is not a simple sport to Saul. As the story progresses, we realize that Saul “attempts to escape from emotional agitation into the self-forgetting of hockey: ‘That’s why I played with abandon; to abandon myself. For Saul, hockey is actually a method of escape from the traumatic experiences, and yet it proves to be pathetic when he “packed [his] bag and got on a bus back to Manitouwadge”. Saul discovers his increasing inability to fit in the community due to his unresolved misery, and tries to escape once again: “‘I’m not disappearing,’ I said. He shook his head sadly. ‘Seems to me you already did”, this time, Saul finds relief in alcohol, which offers an “antidote to exile” in which it enables him to play the clown and raconteur (Robinson 96). The enduring trauma appears throughout Saul’s adolescence and young adulthood; they surface in the manners of Saul’s addictive behaviours in hockey, his disconnection from his community, and his destructive behaviours associated with alcohol.
After living with the Kellys for a while, Saul chooses to leave Manitouwadge at the age of eighteen. Then, he starts his “fifteen years of his young manhood that are spent in emotional confusion and alcoholic drifting” (Robinson 90). Saul does not leave without a reason, even though he is not aware of it yet. According to an academic journal published by Oliver Morgan, ACEs (adverse childhood experiences) “have a profound and lasting impact many years later, although they are transformed from psychosocial experiences into organic disease, poor social functioning, mental illness, and addiction” (Morgan 9). Clearly, Saul possesses various ACEs from his experiences of forced assimilation at St. Jerome’s, and his Native identity has been damaged by “the ‘structured violence’ of residential schools” (Robinson 100). With his identity and way of life robbed from him, Saul loses the ability to connect with nature and his people. He loses the way of “storying,” and there is no way for Saul to “impart and preserve Indigenous cultural wisdom”; moreover, he cannot “cope with extreme cultural transition,” which is the effects of residential school (Robinson 91). When Ervin Sift tries to offer him a normal life, Saul wants to connect but “there was a bigger part that he could never understand. It was the part that sought separation” (Wagamese 186). These few lines strengthen the link between his enduring trauma and his disconnection from people. Being unable to deal with his unresolved ACEs, addictions and SUDs (substance abuse disorders) that naturally occur, drinking helps Saul calm his rage and “exert some measure of control over intolerable feelings and intrusive thoughts” (Morgan 8). Thus, Saul continues to rely on alcohol as a way of dealing with his enduring trauma until he enters the New Dawn Centre for recovery.
Many people might’ve not thought of generational survivors of residential schools as the victims of the school system, but in general, a victim refers to all people harmed as a result of an event or action. The author of “Indian Horse” tells his point of view on intergenerational survivors, having been one himself: “I never attended a residential school, so I cannot say that I survived one. However, my parents and my extended family members did. The pain they undergo became my pain, and I became a victim”; as Wagamese describes the pain carried by the victims passes through the generations and so the scars stamped deeply on their bodies and spirits.
Saul and Wagamese’s life starts alike, living with their families in the bush. In both cases, their families had attended residential schools and were suffered by psychological, emotional, spiritual, and physical harassments that only alcohol seemed to be helpful for healing. Due to the fact that they were both being separated from their families as kids, they never learned how to be proper parents, and as a result, Wagamese’s relatives turned out to be abusive. Saul’s family went through the same, making them weak enough to choose to consume alcohol, and they abandoned him with his grandmother at a young age of eight; it was just alike Wagamese’s parents, who abandoned him at the age of three with his two brothers and sister. They were both abandoned in the middle of winter, where the weather was freezing and the breeze which was excruciatingly cold. Saul’s grandmother did not make it due to her sacrifice of keeping him alive (providing him, her clothing) and in both cases, the children were found and taken away by the government; They sent Saul to St. Jerome's Indian Residential School, while Wagamese and his siblings were sent to the Children’s Aid Society.
This tragedy impactfully changed their lives. Saul was taken to a residential school where he witnessed and experienced unimaginable abuses. The school tried to assimilate Indigenous people and remove their Indian traits from them, their identity. According to Richard Wagamese, “The most fundamental human right in the universe is the right to know who you were created to be”, but residential schools denied their human rights, and Saul was forced to tolerate all this for five years before he was adopted by Fred Kelly and saved from the dominations of the school. But it was also at that school where Saul discovered his love of hockey, a game that for a short time played as a means of escape. Saul began practicing hockey after having been introduced to it by father Gaston Leboutillier, a young priest at the school: “As long as I could escape into it, I could fly away. Fly away and never have to land on the scorched earth of my boyhood”. He describes how he is trying to escape his situation and fly away from it, and seek for freedom. He began using hockey to overcome the memories of trauma, it was his escape. Richard Wagamese’s life extremely changed too. He was put into two parent homes and finally adopted at the age of nine. For seven years he went through “beatings, mental and emotional abuses, and a complete dislocation and separation from anything slightly Indian or Ojibway”, it was until then that he decides to run away in efforts of saving himself. His experience was just as shocking, brutal, and desperate as Saul’s in St. Jerome’s.
Both Saul and Wagamese were fulfilled by the feeling of uncertainty and confusion and had a sense of not belonging, with no clue what even have caused it. Saul, on one hand, was lost because he kept hiding away from the truth instead of facing it. After he lost his passion for hockey and it ceased to act as his escape, he turned to an alcoholic. He started falling into the endless pit of alcoholism and this continued until Saul became apart of himself, and hid from himself for so long that he had no clue who he was anymore: “I couldn’t take it. I couldn’t run the risks of someone knowing me, because I couldn’t take the risk of knowing myself”. Saul kept running away from his problems, avoiding them and became so lost that even if he wanted to get to know himself, he would not know where to begin, so he ran away because it was easier. He only tried to get better once he realized that he would die if he kept drinking over and over. Through a visit to his dead family, he came to the conclusion that he has to go back to the beginning. After he went back to where it all started — the residential school — he realized what had occurred to him and he was forced to face the ugly truth. On the other hand, Richard Wagamese who did not know what to do with his life, lost, either on the streets or in the prisons. He was lost because he was left in the dark about his family’s traumatic past in residential schools: “At that time, our people, Aboriginal people, did not really talk about residential schools and certainly the greater Canadian majority never spoke of residential schools. Most people had never heard of them”, he explains how he did not know at the time the cause of his family’s suffering and the reason behind their past behaviour. He only discovered these once he reunited with his family after twenty-one painful years of not seeing each other.
Essentially, both Saul and Richard Wagamese ended up reuniting with their family and found a way ease of their bitterness caused by the residential schools, and they began a new journey towards healing. Eventually, Saul went back to Fred and Martha — his adoptive family — and coached the kids in hockey to get back the joy in the game and pass his skills into the others. Wagamese also went back to his family and learnt about their history and culture. It was then that he went to a church, the main cause of his anger, “heard about compassion, love, kindness, trust, courage, truth, and loyalty and the life-ending faith that there is a God, a Creator”. He heard about healing and eventually gave up his anger. Afterwards, he spoke out and wrote books to make sure that everyone has the knowledge, and everyone’s moving in a glide path. The creation of the book Indian Horse helped heal Richard Wagamese: “And I found for my own self as a writer that at the end of Indian Horse I bore much less anger and much less dissatisfaction and much fewer questions that I had when I started”.
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Get custom essayDeep down, Saul Indian Horse experiences traumatic forced assimilation into Canadian culture at St. Jerome’s residential school, and these experiences follow him into his adolescence and young adulthood, functioning as the cause of his enduring trauma and nearly destroying his life. Fortunately, Saul eventually gets sent to the New Dawn Centre, where he is able to share and write about his traumatic experiences. This process helps Saul recover, “as with recovery from addictions, trauma recovery involves repair of connections to community”.
In the re Delhi Laws Act case, it was for the first time followed by the Supreme Court that except where the constitution has vested power in a body, the way of thinking that one organ should not complete functions which basically belong to others is followed in India. By a majority of 5:2, the Court held that the explanation of separation of powers though not an important part of our Constitution, in rare circumstances is obvious in the legal rules of the Constitution itself. As observed by Kania, C.J.
Get original essay"Although in the constitution of India there is no express separation of powers, it is clear that a legislature is created by the constitution and detailed provisions are made for making that legislature pass laws. Does it not imply that unless it can be gathered from other provisions of the constitution, other bodies-executive or judicial-are not intended to discharge legislative functions?"
This judgment suggested that all the three organs of the State which are the Legislature, the Judiciary and the Executive are bound by and subject to the legal rules of the Constitution, which limits their powers, legal controls, responsibilities and relationship with one another. Also, that it can be assumed that none of the organs of the State, the Legislature, the Judiciary, and the Executive would go beyond its powers as laid down in the Constitution.
The question placed before the Supreme Court in this case was connected to the extent of the power of the government to update the Constitution as given under the Constitution itself. It was argued that Parliament was "better than anyone or anything else" and represented the sovereign will of the people. So, if the people's representatives in Parliament decided to change a particular law to control individual freedom or limit the extent of the range of the judiciary, the executive and the legislature had no right to question whether it was related to the Constitution or not.
However, the Court did not allow this argument and instead found in favor of the person who's arguing against a legal decision on the grounds that the belief of separation of powers was a part of the "basic structure" of our Constitution. As per this ruling, there was no longer any need for confusing double-meaning as the idea for a single purpose recognized as a part of the Indian Constitution, permanent even by an Act of Parliament. So, the idea of separation of powers has been included into the Indian laws.
Nationalism is a bleeding edge advancement. From the earliest starting point of time people have been affixed to their neighborhood soil, to the shows of their kinfolk, at the set up local specialists; and before the completion of the eighteenth century that nationalism transformed into an assessment framing open and private life choosing components of current history. The English oversaw over India for around two centuries. They started impedance in the religious issues and other social practices of Hindus and Muslims and it maddened the Indians and their shock achieved the outfitted revolt of 1857. Notwithstanding the way that the British crushed the revolt yet they couldn't pound the spirit of nationalism among Indians. The English guidance was familiar in India with set up the specialists and to normally sway the Indians. In any case, when the Indians analyzed the European history, composing what's increasingly, thinking, they began to think similar to Indian open door from the British subjugation. The commitment of solidarity among the Indians was strengthened by the introduction of railroad, Telephone, Post and Telegraph. Notwithstanding the way that these were displayed for propelling the British interests yet they helped in the advancement and improvement of Indian nationalism.
Get original essayThe revolt of 1857 was fundamentally in excess of an irrelevant aftereffect of sepoy discontent. It was in fact a consequence of the character and methodologies of common rule, of the amassed objections of the all inclusive community against the Company's association and their disdain for the remote daily schedule. For a century, as the British had been vanquishing the country a modest piece at any given moment, surely understood discontent and scorn against remote standard was grabbing quality among the various fragments of Indian culture. It was this discontent blasted forward into a convincing understood revolt.
The Revolt of 1857 was a land mark. Regardless of the way that Indian Nationalism set as a national development in the midst of the latest numerous long stretches of the nineteenth century, its first developing was undeniable in the beginning of the main residual century. Prior to an outline of the climb and advancement of Indian National Movement, a short reference to a noteworthy event of the nineteenth century is appropriate. That event was the Revolt of 1857. The uprising of 1857 was the last, anyway unbeneficial, try of the social classes of the old society to drive out the British from India and come back to the pre-English social and political nearness. The Revolt was the delayed consequence of stifled fury and totaled discontent among the diverse strata of the old society who encountered the British triumph, because of the new budgetary powers and measures brought into assignment by that triumph, and the distinctive social improvements brought into the country by the British Government. The vital purposes behind this Revolt, regardless, were the augmentation system of the British which understood the liquidation of different crude communicates, the new land salary structure, which diminished the Indian average workers to extraordinary monetary wretchedness similarly as the broad scale ruination of the countless Indian skilled worker and handicraftsmen due to the downpour of the machine-made product from British in the Indian market. Disregarding the way that the Revolt began as a military revolt, it quickly transformed into a well-spread uprising. Toward the day's end, the revolt was after a short time changed over into disobedience in various bits of Northern and Central India. In this article, the writer will examine the reasons for the revolt and whether the development was a triumph or a disappointment.
The year 1857 saw prepared revolts in parts of central and northern-India, of which the event of tenth May 1857, when the eleventh and twentieth Native Cavalry of the Bengal Army, gathered in Meerut, turned on their pioneers, is a basic one. The nonconformists turned for organization to Delhi to get the favors of the Mughal Emperor and subsequently accommodate their exercises credibility. The Revolt of 1857, free of its genuine nature and character, was exceptional to the point that it appeared for a period that the Company's Raj would disappear from India until the spring of 1858, when demand was restored again by the driving regal forces.
The Revolt was on a fundamental dimension not equivalent to earlier events of defiance which were sporadic and related to adjacent issues. It was spread at a greater scale and sepoys at various centers mutinied sought after by regular agitating impacts too. Pioneers of the revolt included Tantia Tope at Bareilly, Lucknow's Begum Hazrat Mahal, Rani Lakshmibai at Jhansi and Nana Sahib at Kanpur, and Khan Bahadur at Rohilakhand. The revolt broke the comfortable estimation of liberal fulfillment, that all was well in India under the British'. It completed British rule for a significant time span in explicit bits of India. So it remains the most elucidated event in current Indian history. Like each such event, 1857 has moreover created its very own discussions. While there is close unanimity with regards to the course of the events, it isn't so with the causes and character. It has been referenced as the 'War of Independence' by most of the indigenous history masters and specialists, while meanwhile set apart as 'resistance' by basically all British and European researchers with a not a lot of exclusions. It has similarly been confirmed as a completely military erupt conveyed commonly by not exactly perfect and flawed systems of the East India Company's military experts and the protests and indiscipline of the Indian troops of the Company. The request that bothered most of the understudies of history was whether the event was a people's uprising, or a minor rebellion. Official works around 1857 revolt set the example for Imperialist historiography. Sir John Kaye (1864) communicated that hurt religious presumptions, encroachment of rank standards and the lubed cartridges provoked the 'disobedience'. The British addressed a propelled advancement and a white control; the uprising addressed a common reverse discharge, energized by reactionary, neighborhood wants. He understood that it was an outstanding war against a pariah race, and he understood the cerebrum art of the resistance as no one had done already, or even a brief span later. Kaye (1864) had apparently that the purposes of the guerillas were counter-present day; it is a judgment that has not been effectively tried. Structures by J.B. Norton (1857) were extensively in simultaneousness with Kaye.
Vinayak Damodar Savarkar (1970) turned out with a work that showed a comparable handle of surely understood mind science. He was at the time a dynamic patriot and was yet to change into the Hindu communalist of later days. The work is brilliant for its instinctive sympathy for the objectives of the fanatics, and its convincing handle in regards to their focuses. Savarkar's hold of the noticeable frame of mind, like that of Kaye, was adroit. He demonstrated that the radicals were animated by the vision of Swadharma, and Swarajya. These two points, 'one's very own religion', and 'one's own space', drove the radicals into a war of self-sufficiency. As demonstrated by him, the revolt had two phases, hazardous and creative. The perilous stage was separate by undertakings to remove the British standard, while the supportive stage was depicted by undertakings to shape an elective government.
The year 1957, got a colossal Indian intervention the dialog. Surendranath Sen (1995) made an official history that wrapped up, warily and with brilliant confinement, that it was a war of opportunity that normal a national degree in the starting late invalidated Kingdom of Awadh. He expelled the theory of fitting preparation and interest. The revolt, he says, had its root in the sepoy discontent and it got quality from the no matter how you look at it alienation of the normal people. The British managers and the English collectors had said this some time before this had unfurled in the Indian identity. An alternate understudy of history, RC Majumdar (1963), had surrounded a club with Sen in articulating a point of view which was not Indian in the authentic sentiment of the term. Both Majumdar and Sen agree that, in the midst of the nineteenth century, nationalism in India was yet in its beginning periods. There was no assessment of nationalism, as we most likely am mindful it today. Majumdar (1963) believed it to be the 'shriveling groans of an obsolete honorability'. In their unmistakable ways they all retold the story from the Indian side, without a staggering charging learning into the Indian purpose of vision that had before left Savarkar's inspired re-making out of history. They pestered the causes and motivations, rather than the wants and focuses, of the uprising. All in all, the effect of their work was to set up that the Mutiny was not an insignificant uprising of the sepoys.
Thomas Metcalf (1965) assented to the view that 1857 was a sweeping, conspicuous uprising composed against the new landowner class. He says that due to the agrarian objections rising up out of British over-assessment and the passage of landed property to the money advance expert, the overall public of the North West Provinces gave their assistance to the progressive reason. In any case, the revolt can be called unmistakable just in Awadh, where the taulakdars and workers partook together for the majestic court. The dialog continued ahead to another measurement with Eric Stokes (1988). He elucidated the landing of the worker to Modern Indian History. His creativity lay in his hold of the manner in which that the revolt of the specialist furnished power lay at the very heart of the nation and agrarian uprising of 1857. He thusly disposed of the sham capability between the 'normal' and 'military' estimations of 1857. However, he, also, based on the causes rather than the objectives of the uprising. His looking at into the agrarian structure went more remote than those of his contemporary Ranajit Guha. Guha saw the occasion as an unrefined inversion which changed the lowliest into the most astonishing. In truth, as Buckler had raised various years earlier in his generation of the legitimist perspective of the fanatics, they went for the revamping of pecking request and not at its topple. What they searched for was not flipping around things, yet remedying the misguided annoying of the old solicitation by the pariahs; not inversion, yet re-inversion and reconstructing. In a completely near vein, Stokes saw the uprising as a customary restriction development in which the locally overpowering specialist heredities abused by the significant land charge had the fundamental impact.
An instance of how close-by and position factors gave an exceptional character to the revolt in each region is showed up by Rudrangshu Mukherjee (2002) in Awadh, He found a particular commonalty of eagerness between caught owners and endangered specialists. This ensured in every way that really matters three fourths of the adult male people of the included Kingdom rose in arms against the British. 'Theirs was not', he watched, 'a fight to set up another social solicitation. English rule had flipped around their existence; their point was to restore that world, and all in that.' In a following work on the town of Cawnpore, he found that the uprising was made by the lower solicitations of the town, the great occupants being reluctant to participate at first. The butchers of the Whites were supported by religious essential. Mukherjee tried into the psyche of common violence and found there a gathering of the mind moved by contempt of an outcast solicitation. Awadh, closes Mukherjee, 'the confinement to the British in 1857 was actually comprehensive, a people's resistance'. Tapti Roy, in her examination of the revolt in Bundelkhand, express that the workers were not constrained to their areas and tried to spread the revolt. They concentrated on undeniable kinds of British power. They moreover moved against deal purchasers and money moneylenders. The notable disobedience in Bundelkhand was specific as she might want to think from the insurgence of the sepoys, the revolt of the Rajas and the defiance of the landowners, and it was the total action of the all inclusive community of the towns which gave the uprising its standard estimation. She saw that the radical Ahir specialists gave strong help to the disobedient Bundela Rajput owners: no one drove, all rose together, and a total rose up out of synchronous scenes realized by one of a kind focuses and wants. The notable exercises in the remote towns were, never the less, independent. Roy couldn't resist repudiating her 'pilgrim' and 'patriot' heralds who had created totalizing accounts as the single direct story in the elective frameworks of area and nation.
The 1857 war of Independence was the foremost Indian war of Independence and it was contained on June 20,1858 with the fall of Gwalior. It began on May 10, 1857 when Indian sepoys from the East Indian Company's military made a revolt in Meerut that after a short time spread all through the central and northern India urban networks. By far most of the genuine battles were bound to the Delhi region, Bihar, northern MP, and UP areas. It is known as India's First War of Independence.
The East India Company expected to create pay so they started to expand their British locales into Asia, which provoked the appending of a couple of free Rajas in India from 1848 to 1854. The Company made a huge number of 200,000 South Asians with 40,000 British troopers so that by 1857, the country of India had a spot with the British. It is envisioned that the reason behind the war was not an aftereffect of the India people's aching for circumstance, yet moreover in light of the way that the British expansionism was so enormous hence quick. The British fortified their triumphs all through the region quickly and rapidly inciting heightened Indian unsettling.
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Get custom essayThe East India Company also pushed the cutoff purposes of the Indian people by convincing unprecedented costs on them and tormenting them. The draining turmoil began and in spite of the way that it was unbeneficial, it did nearly smash a tremendous power to be figured with when it was dealt with just by specialists with confined resources and compelled planning. India would pick up its opportunity in 1947.
Indian wealth management industry has been into the growth in the recent times. Out of 8% population of the country who holds more than 45% of wealth, popularly known as High Net-Worth Individuals (HNIs), only, 20% of those take the advice of any wealth management company for managing the assets.
Get original essayDue to constant increase in the number of HNIs the need and demand for Asset Management Companies (AMCs) have also risen. This have opened up the opportunities for investment and also accelerated and maintained the flow of money in the economy. Management of assets is not limited to physical or financial assets but it has also extended over,
Tax planning does not refers to ax evasion, it is the planning of investment of income or wealth in such a way that the tax payable to the government in minimum. It helps the individual for reducing the tax burden and motivates them to invest more.
It is very important for the people engaged in regular investments and having more than one source of income. This is most crucial part for investors and that has to be maintained or taken care of the wealth management organization properly.
Before going to any wealth management firm this is the clarification an investor needs to make to the organization.
From buying a car to buying a house, wealth planning is the most important factor is requirement of money over the period of time. In other words, money for education of child, purchasing of car, buying a house etc.
For each and every sort of needs with different time frame requires the proper amount of planning and execution for success.
Rome wasn’t built in a day.
Creation of wealth takes a lot of time and patience. It takes over a period of time for money to get convert into wealth. It all starts with a small investment and then regularly investing at right time in the right scheme or script and moreover manage it so that it gets nurture and proper direction so that it could be fruitful in the future.
Talking about the future planning retirement is faced by all and everyone needs to plan in advance that what they are going to do for the future that is, the source of income on regular basis, emergency finds, health related funds etc.
Wealth management helps in proper classification of all such activities and helps the people to relax in present while their wealth are being managed for future.
Tier 1 cities have already accepted the age of managing the assets that is seeking expertise advice in order to distribute their wealth and rising awareness in tier 2 and tier 3 cities. However, there are lot many less number participating in it. On the contrary with the increase in number of financial products and services there would be also be rise in the investors and people consulting the asset management.
The scope of the wealth management industry is quite wide and it has also opened up the cells for employment and knowledge simultaneous to the increase in the circulation of the money in the economy as well as the rise in systematic and long term investment. This will lead to growth in market capitalization that will ultimately have an impact on the growth of the economy.
Hence, the study of the market and the industry will give a better view and knowledge and moreover it would enhance the customer’s demands and needs.
Introduction to Wealth First Portfolio Managers Limited
"To device a set of strategies and methodologies that makes investment simpler, logical, scientific, predictable and more profitable activity.”
"To provide the best possible financial service to the clients that help us to serve them better and that fulfils their investment goal."
Wealth-First Portfolio Managers Ltd. was originally incorporated on 16th April, 2002 with the name DSFS Securities and Broking Pvt. Ltd. Further the name was change to Wealth-First Portfolio Managers Pvt. Ltd On 14th May, 2003 and was converted into a public limited company on 30th September 2015.
Wealth first is amongst only 73 SEBI Registered portfolio Managers / Advisors who ensures about 100% confidentiality for the clients. It has been established since last 16 years in Western part of the country with better and deeper knowledge of the financial market, Indian economy and mindset of the clients. They have been selling mutual funds since last 11 years and selling G-Sec since?92. They have been having perpetual standing relationships with capital market intermediaries like …
They are managing various classes of clients including leading domestic and MNC corporate, Individuals, HNIs, Provident Funds, Trusts and Housing Societies. They always believe in Systems and Process. They have been using them to provide complete execution support at each step of whole investment process.
True knowledge sharing and transparency are the key aspects of the company. Educate the clients give understandings to the clients on each and every aspect of the products by knowing big and small requirements of the clients. Always tries to bring new generation initiatives / researched inventions (Custom Tailored) to meet their clients? objectives, as they emerge. They always try to adjust themselves as a friend / guide / philosopher depending on which of these roles particular client wants them in. Always try to give 100% to the clients to make their wealth.
They never agitate in saying “NO? to the clients though it could be their loss, in other word; they like to manage 100% transparency level. They always do the same things that they believe and say. They always like to be disciplined and consistent. They always try to be an active advisor to their clientele.
Indiana Jones: Raiders of the Lost Ark is one of my top favorite movies of all time. (I personally think that it is the best of the film series for being the most creative and least ridiculous. It’s a classic.) It is a movie that I can’t remember not loving. I bet many people can relate to that, for Indiana Jones is one of the most famous characters of all time. From movie lovers everywhere, we thank you, Steven Spielberg, for this marvelous character and entertainment. He is a classic character, battling the undoubtedly villainous “bad guys” and then cooly eliminating the nameless, unspoken characters that are irrelevant to the plot of the story. These adventures are supported by the wonderful and exciting music of John Williams. Kids and even adults imagine themselves in his leather jacket and iconic hat, with a whip fighting off the enemies with ease and courage that he doesn’t even care to notice. He is a heroic figure of archaeology that always gets more than what he bargained for. He always concludes his adventure victoriously with his prized artifact.
Get original essayIn Indiana Jones and the Last Crusade, Henry Jones (the first), Indiana Jones’ father (played by the renowned Sean Connery), unintentionally joins him on another one of his dangerous adventures of surviving the Nazis in search of an important artifact. This time, a colleague of theirs, Marcus Brody, joins him as well. Jones I and Brody are also archaeologists but are both very different from Indiana. These two were more bookish and cultivated individuals with their quirky enthusiasm centered around archaeology. They were never figures of adventure as Indiana was and were shocked at the many actions that he wouldn’t even think twice about. I must say that they were archaeological enthusiasts rather than someone who would physically fight and risk their lives so that their enemies wouldn’t be able to use a specific artifact of significance to their own evil advantage. As a matter of fact, Indiana Jones’ father would constantly criticize him (in a fatherly way) about his unorthodox career in their common field of interest. “This is not archaeology!” he would exclaim to his son. Indiana seemed to understand that. I would believe that a typical archaeologist would be much more like Henry Jones I and Marcus Brody, than that of Indiana Jones who is likely notoriously well known by real-life archaeologists as the figure many people falsely perceive them as. The movie industry does give us false portrayals of careers but is it possible to be Indiana Jones for a career? What does a real archaeologist do and why is their work significant?
Before getting too deep into learning about this field of study, I not only had to research the basics of archaeology, but the basis of the field. I had to find out what it is that makes archaeology important, what is commonly discussed, and what makes artifacts significant to our knowledge of history. In fact, why do we believe that learning about our history is so important and significant through archaeology? What impact may the things we learn about previous societies have on our current society? As my curiosity swirled through my head, I had to start simply. For a basis, I searched a fairly simple definition of archaeology: “archaeology analyzes the physical remains of the past in pursuit of a broad and comprehensive understanding of human culture,” the SAA Archaeology for the Public had stated in their introduction of American Archaeology. That definition had me thinking about how exactly the artifacts we find have an impact on our knowledge of culture and societies. This field of study analyzes cultural and structural changes in societies to see how we have socially and technologically advanced over thousands of years. There are many specific topics that someone can study/primarily focus on since this is a very broad subject. (American Archaeology). It was explained that this field of study is not direct learning about history, but making discoveries and analyzing them in order to learn more about societies that came before us. We do this so that we can recognize patterns to explain our questions of how the world became so today. Artifacts are analyzed with context that “refers to the relationship that artifacts have to each other and the situation in which they are found.” (American Archaeology). I now had a very clear basis of archaeology, but I needed more specifics. I needed more of an insight on the career. What are the educational requirements and what do professional archaeologists do on a daily basis?
I would answer this question by searching for such information through a University. The University of Chicago was where I had found a wonderful archaeology department that very clearly explained the graduate school courses that were required to earn a degree in archaeology. (Coincidentally, Indiana Jones had fictionally attended this school.) Many courses included studying ancient languages and cultures. Those would be used in order to understand the records of ancient civilizations and use that knowledge to analyze artifacts and better understand a specific society. The information learned from these courses would be used every day in a career in the field. For example, if ever working on analyzing an artifact for a journal, their knowledge of the history of a civilization would counterplay as a part of determining how significant this certain artifact was to the civilization and to our knowledge of that civilization and its future impacts. But, what will determine an artifact’s significance from what we know about where it came from? What contributes to analyzing the value of an artifact or piece of information found from it? I needed to further investigate the more technical part of archaeology.
Again I had searched the internet but this source did not give me more simple and basic information. I had found a journal article that consisted of just about 20 pages. What I recognize previously analyzing journal articles is that almost every sentence is important to have an understanding of the topic that is written about. Value and significance in archaeology is an “archaeological dialogue” that discusses exactly what the title says. The significance of an artifact is basically defined as how relevant a piece is to a society and how much of an impact that it had on that society. It is what archaeologists analyze first to see how that could have impacted the society of where it came from and future societies that came along after. It heavily contributes to the assessment of value. (Different from significance,) value is how important an artifact is including the context in which it is being studied. When assessing value, you have to take into account its material value and its significance (to a society). According to Samuels, “the concept of ‘inalienable possessions’ demonstrates that it is not the circulation of objects, but rather the attempts at keeping them out of circulation, that constitutes their value.” He is saying that the concept of possessions that cannot be taken away shows that it isn’t how it fits with other artifacts of significance but how it stands out that makes it valuable. I most easily understand archaeological value as knowing that an everyday item is much less valuable than a historical piece of significance such as the declaration of independence. Determining value was much more technical than I had thought and there is so much that goes into consideration. When assessing such values, Weiner, an archaeologist cited in the article, intends to “conceptualize exchange processes and values which accommodate the place of gender in social theory and leads to a reconceptualization of how difference is transformed into rank and hierarchy”. He assesses how an artifact contributes to social theory and can change an outlook on a society. I didn’t realize how technical of a field this was and how much was put into consideration to determine a historical piece’s significance which would then be taken into account to determine its value. A very valuable piece typically has an association with important events and/or people in history, but it could just give information about the past without having any special associations. Value and significance in archaeology is the most important component of the field because it is what makes anything that was found important to learning about societies from the past and how the contributed to our modern lifestyle now. According to Marx, a well-known historian and philosopher of the 19th century, “it is value, rather, that converts every product into a social hieroglyphic”. This quote is saying how value, when assessed, makes the artifact found more information and clues about the past than just an object. It is the significance an item has that makes it valuable, whether in an archaeological, economic or personal perspective of it being special. Each individual archaeologist has their own views of assessing value but they all basically have the same concepts embedded within their methods. I wanted to know if there was any sort of set standards that are always taken into consideration when analyzing an artifact. As I read further, I had found the basis of archaeological practices:
“Value is located within at least three interconnected practices of the discipline of archaeology:
Basically, what these practices conclude of is what value is used for and how it is assessed.
After completely reading and taking notes on this journal article, I was more fascinated with this field of study. I was pulled in by technical definitions and the wording these archaeologists use that they could so easily simplify. In journal articles, I see their scientific language almost as a secret code between scientists of the field of whichever topic is being discussed. I still had a few questions that were unanswered and I wanted to get some personal insight from a professional archaeologist.
When searching for an interviewee, I had originally planned on interviewing a curator from the Met Museum. That idea sprouted when I had recently visited the promptly closing Thomas Cole exhibit there and had admired the archaeological brilliance of the Museum overall. I called and left a message for the department of Greek and Roman art in request to get the contact information of a certain archaeologist that I had found online. I stated my purpose and gave my email. Unfortunately, her contact information was inaccessible to me online and I had never gotten a response and had to go in a new direction. I know that Columbia University has a very good archaeology department based on articles that I have previously read before starting this essay. I kept a list of six possible interviewees and narrowed it down to three based on their specific field of research and whether or not they studied art more than archaeology. My first reply had truly enlightened me. Zainab Bahrani is a professor of Art History and Archaeology at Columbia University and has been extremely successful with her published works. She also is very concerned with how archaeological sites of great significance are often destroyed and she wants to preserve them for future generations. I emailed her my questions and she very richly and thoroughly answered my questions in well-composed responses.
Professor Bahrani had grown up to love archaeology since childhood. She had lived in Babylon, Iraq which has many ancient sites that inspired her to love history and archaeology. It was early-on passion that was ignited by an “endless curiosity” as she describes it. I myself have that same curiosity that cannot be stopped but only fueled by new discoveries. That is what drives her to want to know more about the past. She states that “we would not be who we are today if we had not inherited knowledge from them.” (Them being past civilizations in which archaeologists study.) I often think of that in a history class: what have we learned from these events that help us advance as a society? We learn from past mistakes and we learn from past success.
For Professor Bahrani, a typical workday is mostly teaching her college students and advising those who are studying to become professors as well. She also researches and writes for her publications that have been very successful. She does more hands-on work at archaeological sites once or twice a year and she told me that “right now my fieldwork is in the north of Iraq, in the Kurdish region. In the past, I used to excavate in Syria, and I also have some fieldwork in Turkey.” I became more and more impressed with her career and success. I wanted to learn more about what she does by researching her online and her published works. What I had found was wonderfully amazing. She publicly speaks out against ISIS’s destruction of historic sites in the Middle East and many people’s belief in the practice of cultural cleansing. She is an archaeological activist. This was very significant to my brief view of Professor Bahrani but learning about this had coincided with one of her responses: “The most difficult part of my job is probably the part in which I have to deal with some of the destruction that is taking place. Seeing these sites damaged or destroyed is very sad and frustrating, but we do our best to salvage and preserve what we can for the next generations.” It felt so incredible to be able to contact and communicate with someone that has a strong passion and fights to defend it, not only for herself but for future generations.
I had to finalize my interview with mentioning Indiana Jones although I was afraid that such a question would derail my interviewee’s view of my maturity and find a small high school interview of mine beneath something of their standards. I tried to word such an interview question as maturely as I could but Professor Bahrani had given her opinion of this character perfectly and with gratitude: “It is funny that you ask about Indiana Jones. It’s true that many people seem to think that archaeologists are like that, treasure hunters and adventurers. In fact, archaeologists do a great deal of their work sitting at a desk or standing in a lecture hall in front of students!” That seems very realistic. She also stated “I prefer Indiana Jones to Lara Croft (who people also mention to me sometimes) because she destroys ancient sites rather than protecting them! Maybe we need a new archaeological hero.” Her statements were exactly what I needed to sum up my research. I had gotten the real insight that I needed to know what a career in archaeology is about. I really love what they do and it is so fascinating. It is a technical and analytical field that requires opinions and an open mind. It is constantly questioning what we know and what we want to know and find connections or patterns of civilizations. Archaeology is piecing together information for better understandings but not like a puzzle because an understanding can’t be completed. It is constantly changing and expanding.
Keep in mind:
This is only a sample.
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Get custom essayIt is true that Indiana Jones is very entertaining while not exactly fitting of a typical archaeologist. His career of adventure is something that pulls him away from accuracy but pulls us to love his adventures. Movies typically do portray their characters and their identities inaccurately compared to the real world. I agree with Professor Bahrani that what makes Jones more appealing is his passion for archaeology and preserving it for people to learn. Although his heroism may not be all that realistic, it is a more adventurous rendition of a typical archaeologist’s dedication to maintaining great historical value. I believe that Indiana Jones’ career could be somehow been legitimately recreated but in a less adventurous way except in this day and age, his immediate use of guns to eliminate another would be very unacceptable, and he would be seen as more of a criminal than a hero. There would be no people that were unquestioningly labeled as “bad” for being Nazis and the hero would not have the extreme luck of always being missed by bullets shot by teams of people. Maybe we do need a new, realistic archaeological hero; not a Tomb Raider or a treasure hunter, but people like Zainab Bahrani that (verbally) fight to defend artifacts and historic sites so that the history can live on. Maybe not really physically fighting or ridiculously and unrealistically adventurous, but not giving up our keys to history. These heroes now fight to keep our cultures vibrant and our history alive so that it can live on to teach our future societies from past failures and success. These sites and artifacts are what make archaeology what it is! This field requires curiosity that will lead to discovery and all fueled by passion. Passion and curiosity are what will keep archaeology forever alive and keep our world-wide cultures flourishing with diversity. Indiana Jones may not be an ideal hero to archaeology, but he fights for what all archaeologists dedicate their lives to: learning.
When most people think of the necessary classes they will take in university they think of classes specific to their major and therefore, their interests. While few people have a specific interest in indigenous studies, the idea of a mandatory class for all has been brought up many times in the past and in his “Why Indigenous Studies Shouldn’t be Mandatory” article, Josh Dehaas makes impassioned arguments against it. He begins first by introducing both sides of the issue. Julianne Beaudin-Herney is a student attending First Nations University who began a petition to introduce mandatory indigenous studies classes at the University of Regina where she witnessed the blatant stereotyping of her people as “Indian princesses” at a school party (Dehaas par. 19).
Get original essayDehaas finds Beaudin-Herney’s opponents in engineering students from the University of Regina. It is the belief of many non-indigenous students that the topic is already thoroughly covered in each grade before graduating high school (Dehaas par. 13). By focusing solely on the engineering students and giving little voice to Beaudin-Herney, Dehaas ignores or trivializes why these classes are integral to building bridges between the different cultures in Canada. Dehaas focuses much of the first half of his essay on the struggle an additional mandatory class would bring to engineering students. To get a degree in engineering the students first have to complete 45 classes and are often so overwhelmed less than 64% meet the requirements to graduate within 6 years (Dehaas par. 4); even less finish in the standard 4 to 5.
Out of those 45 classes they only get to select one elective in the humanities, many have an objection to that single course becoming an obligation to indigenous studies. It is important to note that indigenous studies is not currently on the list of available humanities electives. Dehaas provides a list of what they are allowed to choose from: Women’s Studies, English, Philosophy, or Religion (par. 5). The single student mentioned by name, Kyle Smyth, openly states he is not willing to give up his already chosen English elective and is unwilling to add to his course load which would bring his total required classes to 46. Another argument Smyth makes against simply adding the class is that he and his classmates are not willing to spend $650 and “countless” hours on a class they didn’t ask for (Dehaas par. 6).
At this point it should be mentioned that assuming the University of Regina has a standard 3 hours of instruction per week for a single semester class, Smyth and his friends would only be spending 36 hours at the maximum on indigenous studies material. The second half of the essay is a string of statements explaining his already deep understanding of indigenous issues, and claims that in kindergarten through graduate school general Canadian history was pushed aside to accommodate indigenous and non-indigenous relations.
By his own admission In grade four [he] filled in maps detailing the different aboriginal linguistic groups, in grade five [he] made bannock with Algonquin grandmothers, and in grade six [he] listened carefully to a Cree woman [talk] about how she was flown from Hudson Bay each fall to residential schools in Timmins (Dehaas par. 14) and while these do offer an important understanding of those indigenous to non-indigenous relations, teachers can only expect a sixth grader to understand so much. Grade school lessons offer an excellent base for what can be more thoroughly discussed at a higher level. There are hundreds of different indigenous groups across Canada, and university professors can objectively teach not just their histories, but their current position within Canada in a space that offers everyone the ability to contribute to the conversation. Students who think they already know enough may have that idea challenged, hopefully to their benefit.
Beaudin-Herney titled her petition “Student Initiative to Change On-Campus Systemic Racism” and identifies witnessing a group of non-indigenous students dressed as “Indian Princesses” at a school party as the incident that encouraged her statements (Dehaas par. 19). Any indigenous student in school across Canada can inform him of a similar experience, however not all of those students are as fortunate as Beaudin-Herney to have the platform to protest it. If Dehaas has as great an understanding of the modern issues indigenous people face day to day as he would like to think, he would better understand that Beaudin-Herney’s experience at that party was not at all individual.
Immediately after speaking of Beaudin-Herney’s party experience, Dehaas does not fail to mention he is gay, and has also been the subject of painful comments. He states, “it doesn’t happen often, but it happens. And there are many gays and lesbians who feel more impacted by stereotypes than I do” (Dehaas par. 20) and while that is a regretful statement, it is important to remember that different forms of oppression and discrimination are not linear and therefore, not interchangeable (Nagy). If he has had experience with discrimination as a gay man, he can understand why indigenous people are fighting for the right to be heard fairly when presented with the smallest opportunity.
Another point he is quick to make is that any other marginalized group will surely demand their time on the list of required courses. LBGT students will require a course, and so will Asian-Canadians, Muslim-Canadians, and Women’s Studies (Dehaas pars. 21-23). Each of these groups has their own history within Canada and has a right to offered classes, but indigenous people have a very specific and difficult history with this country that no other group has; in fact, Dehaas freely uses the word indigenous, which itself is defined as “being used by the originating people to reclaim their history and their roots” (Bedard). It isn’t far-fetched to believe other minorities will understand this simple fact. Considering that history as the original peoples in Canada and North America, and the centuries of pain caused to an entire nation, it is not unreasonable to ask for 36 hours of a student’s time.
Indigenous studies classes are becoming more common and more course topics are being offered in almost all universities each year and that is a strong and positive improvement to be proud of. Beaudin-Herney can be proud of the fact that her petition has brought national attention to this. Dehaas likely played devil’s advocate in stating his believe indigenous studies should not be made mandatory, and offered a voice to students who also opposed the decision with valid reasons, however he did not present his arguments completely without bias. When discussing an issue so close to many Canadians such as this, it is necessary to remain completely impartial and fair to everyone involved.
1. Bedard, Renee. Indigenous Terminology. NATI1005. Nipissing University. 17 September 2018. In Class Lecture.
2. Dehaas, Josh. “Why Indigenous Studies Shouldn’t be Mandatory”. Maclean’s. Published 23 February 2012. www.macleans.ca/education.uniandcollege/why-indigenous-studies-shouldnt-be-mandatory/. Accessed 14 September 2018.
3. Nagy, Rosemary. Definitions and Perspectives. GEND 1006. Nipissing University. 11 September 2018.