Behind my instrument Essay Example | Topics and Well Written Essays - 1750 words

Behind my instrument - Essay Example What is implied by this is the way that instrumental music at last came to be a sort of music that was played without voice. In spite of the fact that exposition length reaction would essentially be required concerning deciding explicitly when this change was first shown, the accompanying investigation will rather center upon the one of a kind components through which instrumental music is introduced; centering explicitly the way through which instrumental music imitates voice-like characteristics inside the bit of Jervy Hou’s â€Å"A Breathtaking Piano Piece†. It is consequently the expectation and objective of this creator to introduce instrumental music, concerning the piece being referred to, as an exceptionally created and non-oversimplified style that requires the individual performer to be much progressively aware of novel subtleties and the methods through which melodic procedure can assist with broadening the body and that of the music being referred to. Furthe r, by utilizing music hypothesis and understanding the manner by which key turns of events and thoughts are spoken to all through a wide range of music, the peruser will have the option to go to an increasingly educated level regarding understanding concerning the center components of how instrumental music can particularly impersonate vocal execution. ... In right around an indistinguishable way, the instrumental piece being referred to â€Å"A Breathtaking Piano Piece† takes into consideration a progression of delays among tune and concordance and a progression of dynamic brakes that help to imitate the voice like nature of the music that is being spoken to. Moreover, the interaction between the left and the correct hand of the piano performance takes into account the audience to envision that a kind of collaboration between the backup and the â€Å"voice† of the individual entertainer is occurring. Similarly that a due West joins a progression of stops developments, bosoms, gestures, and outward appearances so the pair can discuss nonverbally concerning the energy, feeling, and pointed passage that the music must make, similar components are spoken to with respect to the manner by which an interchange is locked in the middle of the tune and congruity of this particular piano piece (Gordon 33). Further, the relationship and the give and the give and take among song and congruity inside the piece intently speaks to the manner by which such a cooperation would happen between at least two artists. As opposed to harping on this point with proof after proof, the peruser can and should highlight the manner by which the concordance and tune stream together inside the initial 25 seconds of the piece; assisting with stressing the components through which a mimicry of voiced articulation and tune inside the instrumental methodology exists close by this. Besides, a degree of mimicry with respect to the manner by which concordance and tune correspond as well as an inconspicuous degree of correspondence between the left and the correct hand of the piano player is just a little bit of the manner by which the specific piece attempts to imitate

Article Example | Topics and Well Written Essays - 750 words - 1

Article Example Investigation Different individuals have various inclinations when they pick a lodging to go through a night or eat a dinner. A portion of these characteristics are impacted by value, area, administration and appropriateness. Also, aside from decision of lodging, individuals travel to various goals dependent on various reasons. Therefore, the inn business has been influenced extraordinarily by various factors, for example, the travel industry or occasions like games. We will see business travel and sports the travel industry as broke down by two diverse scholarly diaries. Business Travel: Business explorers are one the biggest sections of individuals who drive the lodging business. The majority of these explorers favor expressing at mid-level inns and some select incline toward lavish lodgings for their boss assistance. Thus, inns situated in the mid-level portion are known to offer administrations to client dependent on specific characteristics. Some to the characteristics incorpora te reasonable costs, rewards plan and great help (Swarbrooke,â 2012). During the ongoing financial downturn that influenced a ton of businesses and parts, the lodging business was likewise incredibly influenced (Bowen, 2009, pp. 32-37). Thus, numerous lodging networks, for example, the Marriot International inns deliberately made it feasible for their mid level inns to situate themselves in drawing in business voyagers. Mid-level inns have fragmented their business so that it takes into consideration individuals to appreciate long remain at the inn with various administrations being offered (Kandampully, 2007, pp. 63). Thus, many individuals appreciate enhancements, for example, quick web, meeting rooms and breakfast contributions that would charm business voyagers to such inns (Knutson, 2009, pp. 38). Inns like the Cairo Marriot lodging and the Marriot Mumbai International Airport inns are instances of inns which are fabricated deliberately for taking into account the necessities of business explorers. The Marriot inn network is a case of an inn network that has idealized the specialty of drawing in business explorers. The lodging network has done this through contribution a steadfastness program that objectives consistent and faithful clients. The dependability program permits faithful clients to acquire focuses which give them a chance of getting limits and inn bundles not at all like different clients (Davidson,â 2008). Sports Tourism: this is the most up to date marvels in the realm of movement and in the lodging business because of the quantity of individuals who travel. Accordingly, there are many individuals who travel to various games with the expectation and point of taking care of these occasions. Occasions, for example, the World Cup, Summer Games, UEFA Champions League and other games draw in a ton of fans and athletes or ladies who visit these occasions make another sort of the travel industry that supports the lodging business (Knutson, 2009, pp. 36). Thus, a ton of inns offer administrations, for example, quality help, for example, great food and vibe that permits a fan or sports individual to utilize lodging courtesies in case of going to the game (Pritchard, 2003, pp 64-65). A few lodgings offer administrations, for example, guided visits to arenas, great rec centers and preparing offices for sport explorers. A few lodgings additionally offer mystery and selectiveness that is required by sport individuals who need a great deal rejection to prepare and focus on their games. Another contribution that is utilized by lodgings is area as far as closeness to sports scenes and

Octopus way of winning essays

Octopus method of winning expositions Mondex, upheld by the biggest bank HSBC in Hong Kong, is a money based brilliant card which additionally focusing on the little installment showcase in Hong Kong. Mondex was propelled at nearly a similar time as Octopus, and they are immediate contenders with every others. In contrast to Octopus, Mondex has a low entrance rate after its first dispatch and completely vanished in 2001 in Hong Kong. (Groups, if you don't mind check this information) Octopus and Mondex are propelled nearly simultaneously and both are sponsored by large players in Hong Kong, why Octopus is so achievement now while Mondex completely fizzled? This could be clarified by the positive input of system ventures solid gets more grounded and frail gets more vulnerable; achievement sires more achievement, and disappointment breeds disappointment. Positive criticism gives expanding come back to the system enterprises. The more clients a system gets, the more appealing that system becomes to different clients. That makes it simpler for the system to pull in another client. That client makes it significantly simpler for the system to draw in the following client, etc. Positive input is particularly significant on the vendor side of this installment card industry. As more shoppers have a specific card brand and more vendors take that card brand, it gets increasingly hard for different traders not to take that card brand. Shippers may chance losing deals on the off chance that they dont take that card brand. Octopus received an upset methodology by controlled movement. With the retirement of regular put away worth ticket (CSVT), clients are compelled to change to utilize Octopus. This helped Octopus to increase a huge number of card holders in only a couple of months and get into righteous cycle without any problem. As an ever increasing number of clients own Octopus, an ever increasing number of different dealers ready to join the Octopus arrange. Not at all like Octopus who began from the mass transportation and, Mondex began in other purchaser markets with just on ... <!

Leader of Choice Warren Buffett - 1650 Words

Leader of Choice Warren Buffett (Essay Sample) Content: Final Project Proposal:Leader of Choice Warren BuffettJeff PardueSouthern New Hampshire UniversityWarren BuffettWarren Buffett is a great businessman and an investment guru to be emulated. Buffett rose from a humble beginning to become among the top most successful people in the United States history business wise. His achievements can be articulated to his great leadership styles that he shows. Warren is also a humble, patient and a frugal leader who stands by his convictions. Dating back to his early life, Warren showed great aptitude for money and business; His desire and determination to work for money and starting businesses had started manifesting. At the age of six, Warren had already ventured into the world of business. This was contrary to his age mates who would be playing then. At this tender age, he would buy six-packs of coca cola at the cost of twenty five cents from his grandfatherà ¢Ã¢â€š ¬s grocery only to resell each for a nickel a move that would e arn him a five cents profit (Warren, 2014)His father being a stockbroker, warren would visit his brokerage shop where he got his interests in the stocks market. At the age of eleven, Warren invested in shares which were his first investment venture. Warren bought three shares of Cities Services which at the time were preferred at $38 per share. He later sold the shares at $40 per share a decision he would later regret after the Cities Services shares escalated to $200 per share. He would later cite this wrong move in the need to have patience in investing (Warren, 2014). Apart from the stocks market, Warren was also an entrepreneur in the making. At the age of 13, warren had his own business working as a newspaper boy a task that earned him $5000 and selling horseracing tip sheets (Joshua, 2014).At Woodrow Wilson High School, Warren and his friends invested in pinball machines where Warren owned three of them. This investment earned him $1200 after selling the business.After high s chool, Warren saw no need of persuading to college. He enrolled at the University of Pennsylvania in the Wharton school of business but left after two years when he felt that his professors were not giving him enough. He transferred to the University of Nebraska-Lincoln and later finished his school at Columbia after being denied admission at the Harvard University (Joshua, 2014).Warrenà ¢Ã¢â€š ¬s great success in business is attached to Berkshire Hathaway Company where he is the CEO and also rated as the largest shareholder in the company. His other achievements can be seen in his investments in the Nebraska furniture mart, his huge number of shares in the coca cola company and his venture into the one time shaky GEICO Company which he was able to turn its fortunes around. His achievement records can be attributed to some factors and his leadership styles.In his first leadership style, Warren looks for intelligence, energy and also integrity in the job (Jones, 2013).He also believ es in hiring the right people with the needed talents in the business and then getting out of their way giving them space to deliver the needed results. He believes that the managementsà ¢Ã¢â€š ¬ biggest task is identifying the talents within the company and also in planning the succession plans for the company. Therefore, he identifies the need to make good choices when hiring and standing fully behind your choices (Warren, 2014). In his investment he also believes in investing in shares from a solid company that has tremendous prospects and a capable and management like whe...

Facebook Is The World s Second Largest Social Networking...

1.0 Introduction In February 2004, Facebook was founded by Mark Zuckerberg and his college roommates while they studied at Harvard University. It is the world’s second largest social networking site and was originally known as â€Å"The Facebook† which was changed a couple of years later to facebook.com, which it is known as from today (2014). The site remains free to join and makes its profits through advertising revenue. (Phillips, S.2007) Facebook has adapted greatly over the last 10 years, it has gone from a communication tool for social purposes, to a way of being able to create and host events, have group meetings through private pages, connect with people all over the world, to being able advertise and market a business. This report will reference the work of well cited authors and use their work to create detailed reasons to balance out the topic of this report. A number of different styles of articles will be critically examined in order to give an overall view of the report through a difference of opinions. This ensures that there will not be an imbalance on the sources that have been used for the purpose of this report. The main output of this research proposal would be of interest to companies who are looking to start up a business through Facebook, some advertising companies may also want to know if more people use social media as a form of advertisement as this is a form of competition for them. 2.0 Research Aims/Objectives 2.1 Research Aim The aim ofShow MoreRelatedSocial Media Trends That Rock The Internet1117 Words   |  5 PagesFIVE SOCIAL MEDIA TRENDS THAT ROCK THE INTERNET WE can clearly observe the substantive share of social media on internet from the data above. 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The creation of social media has changed the scenario of the world. It has opened new dimensions for people and is regarded as the most innovative and revolutionary creation of the 21st century which has played a significant role in globalizing the world. As much useful can social media be, one major phenomena is that no matter how protected the webs may be, social media has a much deeper and darkerRead MoreSocial Media Advertising1642 Words   |  7 PagesInternet Advertising: Social Networking First Name Last Name BUS 123 Introduction To Advertising Dr. First name and last name September 26, 2010 Internet Advertising Now more than ever, small businesses can promote themselves online by targeting customers and expanding their networks, often for little or no cost. 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The Effects Of A Single Parent Home On A Child s Behavior...

The Effects on Children Who Have Been Raised in a Single Parent Household Introduction Single parent house hold’s can have many different social, mental, and emotional effects on the children who are raised in this kind of household. The effects of children raised by a single parent in the household, whether it is the mother or the father, are often negative effects. These negative effects include facing Economic Hardship, lack of support from family, and other emotional and social distress. Stress is a common factor of these kind of effects. Stress can affect a child and make it hard for them to succeed in various situations that are crucial to their future. I will be looking at research and exploring more into the effects of being raised by a single parent. For this paper I will be reviewing three scholarly sources on this topic; a research strategy finding a Website, study: The Effects of a Single Parent Home on a child’s behavior by Marine Kunz published on April 15, 2015, a piece for a magazine titled Parent Child by Lawrence Kutner, and a scholarly article journal, Negotiating Relationships in single mother household: Perspectives of Children and Mothers by Elizabeth Nixon, Shelia Greene and Diane M Hogan published on February of 2012. Through my research, I will explore more upon what are the effects and the struggles for growing children; as well as, the different effects of having only a mother or a father present in the household. Website

How fitting is the title for the novella, A Christmas Carol Essay Example For Students

How fitting is the title for the novella, A Christmas Carol Essay The novella written by the renowned author Charles Dickens centralises around the theme of Christmas, as a pivotal motif for not only the celebration of Christ, but for its analogous time of unification of people of different social classes. It also possesses a metaphorical meaning of ‘rebirth’ as the underpinning story is about the physiological rebirth of the allegorical Ebenezer Scrooge from a callous misanthropist – the rich gentry into a benevolent being willing to recognise the plight of the working class. This therefore calls for a celebration: Christmas. A time of bestowing material and emotional wealth, which Scrooge has unearthed, and become a part of in the festivity. The theme of Christmas and generosity is exemplified throughout the novella by characters such as Fred, Fezziwig, the Ghost of Christmas past and present and Scrooge as he changes into someone who believes in Christmas and its spirit of generosity. In the novella, Dickens asks, in effect, for people to recognise the plight of those whom the Industrial Revolution has displaced and driven into poverty, and the obligation of society to provide for them humanely. In the exposition of the novella we are told that ‘it was Christmas Eve’, and are shown that this is a time when society is perhaps more divided than any time of the year. This is shown when the ‘portly gentlemen’ visit Scrooge, and declare: ‘This is the time of the year where want is felt most keenly†¦many are in need of common necessities’. The phrase ‘common necessities’ implies that some people in society do not even have enough to provide materially to feed their families, let alone be able to celebrate Christmas. The fact that these ‘necessities’ are considered a ‘want’ rather than a desperation is rather ambiguous, and could infer that this deprivation has manifested into a desire, rather than a genuine need, as they have become so adapted to the ill treatment received, especially under the Poor Laws. Dickens reminds us of the inequality between Rich and Poor in the Victorian London, shown in the juxtaposition of Scrooge (representing the class of rich industrialists) and the Cratchit family (representing the Working Poor), and how individuals like Scrooge have the power to change this dynamic, should they choose to distribute their wealth. This links directly to the novella, and especially the word ‘carol’, which suggests a vocal and therefore public expression, something the portly gentlemen try to convey to Scrooge. Dickens could be arguing through this that we should all be vocal in our acknowledgement of Christmas, spreading the word of God through humanitarian action and reducing the misery of poverty. Fred, Scrooges’ nephew also embodies the spirit of Christmas generosity, kindness and forgiveness. He defends the spirit of Christmas saying it is a ‘kind, forgiving and charitable time’. He embraces the warmth of humanity by the ‘glow’ in his face, and the ‘sparkle’ in his eyes. His warmth emphasises the compassion that we should show each other. Scrooge is invited by his nephew Fred, to join him at his Christmas party, to which he replies ‘what’s Christmas time to you but a time to pay the bills without money’ which shows how Scrooge is more interested in his own wealth than being generous and sharing with Fred, whom has ‘not profited’ from Christmas financially, but has profited spiritually from the generosity of Christmas spirit. Scrooge abrasively refuses: â€Å"keep Christmas in your own way† showing him as the antithesis of the Christmas spirit. Fred’s tenacious persistence to urge Scrooge to join their party, â€Å"Uncle, come† shows his belief in Scrooges ability to become a more family orientated person, as he obviously sees something in Scrooge. This alludes to how it is possible for Scrooge become a reborn person spiritually and bring the spirit of happiness to others if they are willing to invest themselves in others. Awakening By Kate Chopin EssayNext, we are taken to visit Fezziwig, Scrooge’s apprentice, whom displayed good charisma and business ethics. Yet, like Scrooge, he had the ability to â€Å"render us happy or unhappy† which Scrooge can do over Bob. The word â€Å"render† suggests that Scrooge is the imminent power to dictate whether Bob has a future or not. This is so, as in the Elizabethan era, as many Irish immigrants fled to Britain to escape the potato famine, thus meaning wages became rock bottom, and Scrooge could easily find a replacement accepting even lower wages. Scrooge recognises the emotional privilege of those who were around Fezziwig, and even though he was not as wealthy as Scrooge, he was more wealthy in terms of emotional wealth. He therefore wishes to treat Bob better, ‘I would like to be able to say a word or two to my clerk just now’ which demonstrates that Scrooge would to redeem himself for the stress he causes the family. Dickens uses this moral message to illustrate that the upper class, despite holding the power to do so, should not victimise those lower in the social hierarchy, but treat them with compassion, as we associate with Christmas. In stave 3, the Ghost of Christmas Present personifies generosity, ‘sparkling eye, its open hand’. This is an omnibenevolent gesture, ‘open hand’ implying that he provides the spirit of Christmas generosity, as a hand is often referred to as being symbolic of provision. The ghost then takes Scrooge to the Cratchit’s house where they are always positive despite their destitution, ‘brave in ribbons’ showing how Mrs Cratchit dismisses her pain of being displaced into the workhouses, and to be ‘brave’ in the sense that she wants to maximise her situation to maintain her pride and self-respect. This relays the message of Christmas spirit because they celebrate despite their lack of fortune. We as the reader find out about the crippled Tiny Tim, and his exuberance despite his unlikeliness to survive. He had said that he wanted other people to see his situation: â€Å"hoped the people saw him in the church†¦to remember†¦who made lame beggars walk†. The use of â€Å"hoped† suggests that the likelihood of people recognising him is marginal, as it is more an intangible dream than a realistic wish. This quote also alludes to the many miracles Jesus performed, such as allowing people to â€Å"walk† again, which Dickens may use to suggest that the rich aristocrats have the ability to do; they can cure Tiny Tim’s illness, which is as much a miracle to them, as what Jesus performed. Tiny Tim’s illness was likely the result of the inadequate sanitation of sewage, contaminating drinking water. Tuberculosis and cholera caused an endemic especially across large cities. Therefore, Tiny Tim â€Å"hoped† that people would notice his illness, to become proactive, especially the upper-class, whom were complacent with the endemic, as they did not share the same facilities. Dickens uses Tiny Tim as a face for the poor, as they had little political say, as a symbol of hope. He does this through his dire need, and benevolent and courteous attitude. By showing how Christmas is celebrated through the bleakest of places, like a ‘solitary lighthouse’ it shows that the locations are the last delivery of hope and how even though the most dreadful times, Christmas is still what brings people together. Therefore, our generosity of spirit at Christmas time should be spread across the whole of humanity, even to those who are less fortunate than ourselves. In stave 5, when Scrooge wakes up and realises he must change, it shows his transformation and how he has been reborn to the generosity of Christmas. When he awakes, he euphorically says ‘I am here, the shadows of the things that would have been, may be dispelled’. The ‘shadows’ imply that his true meaning of life was obscured, and that his conscience has now been uncloaked to the spirit of generosity.

Reduce crime free essay sample

There are many methods in which crime can be reduced in America, many of which six stand out the most. Incarceration, policing, social programs, living area, unemployment benefits, less jobs. Yes less jobs because with people not having jobs people stay at home acting as guards for their properties and belongings. There are many different programs in which the community can get involved in to help better protect their communities. There are many typed of jobs that the police departments can have to serve their community which in turn leads to them lowering crime activity. The government also provides really god programs in which they give help to the people of lesser income. This causes them to not have to resort to theft and do crimes which can lead them to end up in prison. There are 3,365 jails in America, that’s not counting state and federal prisons. Incarceration is one of the main reasons in which crime is down because, criminals are afraid of going to jail or prison. We will write a custom essay sample on Reduce crime or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page On average 3,000 people go to jail a day in the US. The thought of prison should make people stop committing crimes. People who go to jail usually end up serving 85% of the time you are sentenced and that’s if you’re lucky. If you’re getting sent to a federal prison that’s a whole different story, good luck! There are many programs which the government provides the people of America which helps family with low income. Some of these programs are WIC, Food Stamps, Medicaid, these are some of the most common ones in which most low income family apply for. These programs in a way help lower the need for these families to struggle economically. These program helps lower crime because this provides families with financial help, which marks the necessity for people to steal or commit crimes to gain more money to support themselves and their loved ones. The police department does a tremendous job in reducing crime in the US. Just by having their presence seen in and around the community. They too also have many programs in which they reduce crime. This can just consist of them just having more patrol out patrolling. This makes the community and potential criminals think about what they’re going to do. With the help of the community the police can impact the levels of crime by a lot. The community can help the police department by contacting the police with any information of crimes or with tips of anything that can improve the community. The people of the community are the ones who really prevent crimes. Police officers are called to the crime scene when the crime has already occurred, police officers are responders. The people of the community are really the people who can and do prevent crimes. The community are the eyes and ears of all the things that occur in and around the community, they’re the ones who know of stuff even before the police does. This is why the community helps keep the community safe. Many people can make citizen arrests which in a way makes all of us police officers, just without the badge and uniform. With people having less jobs or having to be laid off, more people tend to stay at home, which in turn makes them protect their belongings and properties. Yes not having a job is a bad thing because there’s no money being made, but in the other had your protecting the stuff you care about the most. Without knowing people that could have of been robbed are not being robbed because they making themselves be seen staying at home for most of the day now. All in all common people are the ones who help bring down crime in the US. Ordinary people are the one who are affected the most but are also the ones who can help prevent it. Everyone can do their part in reporting the crimes they have witnessed or that has happened to them. Although the government provides great programs in which they can help people provide for their families, people shouldn’t abuse the governments help. Police department do their part in helping the community but still they are just responders the will of making a better community or having a better community falls to the people living in those communities.

Effects of Waste Disposal Essay Example

Effects of Waste Disposal Essay Example Effects of Waste Disposal Essay Effects of Waste Disposal Essay Waste disposal falls into three general categories: non-hazardous, hazardous and nuclear waste disposal. Non-hazardous waste includes household or office waste such as food, product containers, and waste that can be recycled. Hazardous waste includes industrial and residential chemicals, petroleum products and heavy metals. Nuclear waste may include spent fuel rods from a nuclear reactor, medical nuclear waste or equipment used to handle radioactive materials. Improper disposal of waste can have serious effects. Non-hazardous Waste 1. The term non-hazardous waste is something of a misnomerit simply means that the waste does not meet certain measures of hazard. Non-hazardous waste can still have negative impacts on human health and the environment since it nevertheless decays, harboring significant amounts of bacteria and posing serious health risks to humans. Decomposing food waste can alter ecosystems by altering the eating patterns of local animals and polluting water and soil. Hazardous Waste . Hazardous waste is inherently dangerous to living creatures, damaging soil and water and killing local wildlife and fish; it can also affect crop growth and whether the produce can still be safely eaten. Heavy metal waste can have serious neurological effects if consumed or absorbed through the skin, and can contribute to the development of cancer, respiratory problems, neurological and developmental disorders and birth defects. Radioactive Waste 3. Radioactive waste represents what is, to many, the most frightening type of toxic waste. The negative effects of exposure to higher levels of radiation are well known, with cancer and death being the most obvious. In the case of improper disposal or storage of high level nuclear waste, the environmental risks are severe. Radioactivity cannot be purged; rather, it must dissipate over time, with high levels often taking thousands of years. Radiation can also alter cellular structure and enter the food chain. Fortunately, regulation and control of nuclear waste is extraordinarily trict and nuclear contamination extremely uncommon. Air Pollution 4. Air pollution is a problem without one specific source. Created by emissions from industrial plants, homes, cars, and businesses such as dry cleaners and printers, smog is the most obvious type of air pollution, simply because it is visible. Air pollution is also responsible for acid rain, greenhouse gases, and ozone depletion, and may also play a role in respiratory problems by exacerbating asthma, inflaming lung tissue, and redu cing lung function.

Statement of Purpose Essay Example | Topics and Well Written Essays - 500 words - 10

Statement of Purpose - Essay Example During my childhood, I was obsessed with science specifically on electronics. I always wondered how electronic parts operate. I can tell there was something like a puzzle behind every electrical tool which led me to be passionate about engineering. As I grew up, my curiosity caused me to study more about my interests and now, I have discovered and have become aware about the aspects of scientific theories applied in the real world. One important part of my journey toward my goals started in Australia. I applied to University of Technology Sydney (UTS) where I earned a diploma in engineering and science in 2010. My schooling at UTS helped me to develop a great understanding of the foundations of engineering. As my knowledge increased, my passion in Engineering became stronger therefore I decided to complete Electrical Engineering which has always been my inclination from the start as mentioned earlier. During my undergraduate program experience at [ ], my undertakings not only helped me learn the foundations of Electrical Engineering but they also facilitated me to engage in the field of Engineering. In my core classes, I performed perfectly in most of them, bringing me to become more confident about abilities. In addition, I became independent in accomplishing magnificent progress in terms of project design. During the 2nd and 3rd years of my undergraduate program, I continuously enjoyed to put a decent effort in laboratories for long hours. This gave me the opportunity to learn more about electrical theories and apply them in the laboratory using the equipment available in the school. I have been in the Chair’s Honor Roll in spring 2012 and fall 2012 as a result of my outstanding success. Moreover, I earned a GPA above 3.0. The undergraduate curriculum introduced me to a wide array  of subjects and brought me to new thoughts and

Person's Prior Experiences And Formulating Ideas Essay

Person's Prior Experiences And Formulating Ideas - Essay Example By associating prior experiences with what formulates ideas, Hume assumes that people only can formulate thoughts and ideas based only on the association. This undercuts that mindset by creating the assumption that new experiences cannot also change human thinking and behavior. He assumes that people are already predetermining concepts based on prior experiences rather than learning from new experiences. He states that man is a reasonable being and goes on to say that the â€Å"bounds of human understanding, that little satisfaction can be hoped for in this particular, either from the extent of security or his acquisitions,† (Hume 7) which is again a cut to humans as if that during his analysis that his thought is the only method of thinking but yet he cannot even explain why he is thinking and reasoning this way. Some of the ideas that Hume maintains is that people are unable to justify any inferences that are causal and are based only on unobserved causes. Through past observations, Hume expects for the human mind to only be able to work in a one-way direction. If a person knows one thing is certain than if a similar experience arises, then that person would expect the same outcome. This is not necessarily true because people can, in fact, learn from prior experiences and react differently. This would insinuate that anything that a person has done in the past would cause them to have the same reaction to a similar situation. However, it seems that many people often learn from prior mistakes and do in fact react differently on some occasions based on their prior experiences too. Hume states that He hints that people have certain reactions based only on prior reasoning and that those scenarios lead people to create a truth that is based only on that single instance. Judgment and morals are based only on those circumstances.

Captain Corellis Mandolin Essay Example for Free

Captain Corellis Mandolin Essay Carlo asserts War is a wonderful thing, in movies and in books. By close reference to the novel, explore how war shows people at their worst and their best. The novel Captain Corellis Mandolin, written by Louis De Bernieres in 1994, explores humanity; we sigh at their suffering as they are ripped apart and forever changed by war.1 The quotation in the title is spoken by Carlo quite early on in the novel, at the end of chapter 15, titled LOmosessuale (4). He is referring to the idea that war is repeatedly shown to be patriotic, heroic, and indeed wonderful especially in film and literature. However, from Carlos experiences in Albania, he knows the true reality of war, as he has seen and experienced the suffering. We can trace Carlos progression of thought through his personal chapters; all entitled LOmosessuale. He begins saying, How wonderful it was to be at this war(p.119) We hear him describe crossing the foreign border as exhilarating, and he and his comrades view themselves as the new legionaries of the new empire that would last ten thousand years.(p.119) This was his view at the very beginning of war, before he had really experienced any suffering. As he is yet to encounter any conflict, it is likely he has been influenced by the propaganda at the time, organised by the Italian leader, Mussolini. The next quotation is said slightly further on during Carlos experience, How wonderful it was to be at war, until the weather turned against us.(p.120) It is here that we begin to hear of some of the suffering that Carlo and his comrades had to endure, such as we were ten thousand men soaked to the bone(p.120). The real tragedy of war is death, and Carlo has had direct experience of this. He says, War is wonderful until someone is killed(p.122). This is when De Bernieres chooses to use graphic images to show the suffering that Carlo and his comrades endure. I realised that I was covered with gory scraps of human flesh that were freezing fast to my uniform(p.122). Finally, Carlo says the quotation in the title, War is a wonderful thing, in movies and in books on page 124. It is here that Carlo has realised the actuality of war, and can see that this idealised version is fictitious and can only be seen in movie and in books. War scorches a trail through all of their lives. What seems, at the beginning of the novel, like a game, a challenge to manhood, a matter of honour, an occasion for political satire, becomes an appalling reality.2 Carlo asserts that war is shown to be wonderful in movies and in books. However, De Bernieres does not follow this trend, and shows the war for what it is. De Bernieres characters starve and die slowly with their entrails hanging out; he depicts the horror that they have to endure to fight for their country, and the suffering that they are put through. In Albania, Carlo says It was as though a portion of my mind has disappeared, or as though my soul had diminished to a tiny point of grey light(p.138). De Bernieres also shows the gore and bloodshed caused by the war, when he describes the death of Francesco. In chapter 19, LOmosessuale (6), De Bernieres uses Carlos narrative to tell the reader the true details of Francescos death, and then the sanitised version for his mother. As well as this showing Carlos considerate nature, it also confirms that many people did view the war in a very different light from its reality, including Francescos mother. He died on a fine day, Signora, with the sun shining and the birds singing. (He died on a day when the snow was melting and when, beneath that carapace, there were emerging a thousand corpses, knapsacks, rusted riffles, water bottles, illegible unfinished letters drenched in blood) (p.148). Corelli wrote the novel, after falling in love with the Island of Cephallonia, and wanting to inform readers about what happened to this Island during World War II. For this reason, he has depicted a very real and veritable account of atrocities that occurred during the Second World War. Everyone is shot, without regard for rank or role, even the medics and the chaplains.3 However, in the film adaptation of Captain Corellis Mandolin, directed by John Madden, war is viewed in a very different light. De Bernieres has said of the film The problem is that film-makers take out all your good ideas and replace them with a load of stupid ones.4 The depiction of war in the film is very different and many scenes seem to have been watered down5, in order to appeal to far wider audience. The movie has been widely criticised, after changing the story line drastically from a tragic story of the destruction and consequences of war, to a love story between Corelli and Pelagia. Where de Bernià ¯Ã‚ ¿Ã‚ ½res book makes it clear from the start that war is unforgivingly ugly, for a long time the films only hint of this is a glimpse of Mandrass battle-scarred feet.6 Although much of De Bernieres novel depicts the horror of war, some of the consequences of war are indeed wonderful. Corelli and Pelagia would have never found love without the intervention of war in their lives, and although ultimately war destroys their love, the moments spent together made the war endurable. The prefatory poem at the beginning on the novel shows Louis De Bernieres hinting, even before the novel has begun, that war will be an important theme throughout. The Soldier by Humbert Wolfe describes the waste of war, and the loss of lives and of youth. Links are evident between this poem and Captain Corellis mandolin as they both explore the way in which war has an effect on different people. The presence of war on the Island of Cephallonia has various effects on different characters and can expose peoples flaws and merits. An excellent example of this is the contrast shown between Mandras and Antonio Corelli. Corelli has been drawn into a war that he really has no heart for. You mean youre a soldier by mistake? (p. 206, Pelagia). He has no desires to be a soldier and his character is often seen as anti-military. When giving punishments he does not follow the rules that are expected of him, To everyones surprise the captain pointed his pistol straight into the face of one of the culprits(p.324). However, although he had no intention of doing so, Corelli proves to be an excellent comrade and shows morality throughout the war. This is my morality, I make myself imagine that it is personal(p.351). This is greatly contrasted with the character of Mandras. He has very high expectations about the life of a soldier and feels he has to prove himself to Pelagia and the rest of the Island. He resents those who know more than him, yet does not want to prove himself intellectually, as he believes no man is a man until he has been a soldier(p.80) Carlos assertion that war is wonderful in movies and in books reflects a idealised view of the war. However, Mandras believes that this view was the reality of war and he felt that becoming a soldier would make him more worthy as a man. Ill come back and everyone will say, Thats Mandras, who fought in the war. We owe everything to people like him. He is indoctrinated by what is expected of him, and is predicted to conform. However high Mandras expectations were, the war does not elevate him, it brings him down. During his experiences in war he saw others abuse their power, and now feels he has a right to do the same, The war de-humanises him, and instead of changing him for the better it changes him for the worse. The war in Cephallonia showed the best and the worst in people. In Antonio Corellis case it displays his merits as he has the opportunity to exercise his humanity in the treatment of others. From the beginning of the novel, Corelli is represented as a laid-back, light-hearted leader. Although he has a great talent as a leader, he is very modest and introduces Carlo as one of our heroes, He has a hundred medals for saving life and none for taking it(p.202). He proves himself as an excellent comrade and Captain by being faithful to his men until the very end. There is no honour in this war, but I have to be with my boys(p.392). His introduction of La Scala also shows good comradeship, as it is a humorous and practical solution to having to use communal toilets. This is also a crucial element of the novel, as before they go to join the shooting line up, they sing to maintain their composure. He also shows his forgiving nature when he chooses to forgive Gunter for what he has done. I forgive you. If I do not, who will?(p.397). He says of himself I am not a natural parasite(p.305) and this is seen clearly when he avoids any confrontation with Pelagia. He is uncomfortable about living with Pelagia and her father Tonight I shall sleep in the yard and tomorrow I shall request alternative accommodation(p.204). Corellis fondness for animals is De Bernieres way of showing positive traits in a character. The fact that Corelli is so attached to Psipsina shows that he is an admirable man and the reader feel connected to him. The captain had some engaging traits. He tied a cork to a piece of string, and sprinted about the house with Psipsina in hot pursuitand if the animal happened to be sitting on a piece of music, he would go away and fetch another sheet rather than disturb her(p.250) Corelli also shows fondness for children in his relationship with Lemoni. Although there is a language barrier, the two are able to communicate on a different level, and are able to enjoy each others company. The child was whooping and laughing, and it appeared that what was transpiring was a lesson in Italian. Bella fanciulla, the captain was saying. He was waiting for Lemoni to repeat it. Bla fanshla, she giggled. (p. 211) He also appears to have a very different attitude than other soldiers, when he arrives in Cephallonia with his mandolin strapped to his back, and not a gun, as you would expect from a soldier. The mandolin that was called Antonia because it was the other half of himself. This love for music is another engaging trait that the captain has, and is one of the reasons Pelagia falls in love with him. We also see this originality to his character when Gunter Weber, a german soldier, introduces himself. Weber says Heil Hitler, yet Corelli says Heil Puccini, showing he has a very different attitude to the war, and will not be led by anyone. This again shows his love for classical music, as Puccini was a great composer, whom Corelli was an admirer of. His relationship with Pelagia is clearly one of great love and admiration, however it also contains sexual desires, which are never consummated. Such slender fingers, such pink nails. He imagined them engaged upon amorous and nocturnal things, and realised that he was disturbing Psipsina.(p.259, Corelli) This shows ongoing respect for Pelagia and her father, and also shows Corellis caring and considerate temperament. In contrast to Corelli, the character Mandras is brutalised by war. He believes that war will change him for the better, yet it changes him for the worse. He becomes a victim of propaganda and a victim of his insecurities. Before he leaves for war he tells Pelagia Im a Greeknot a Fascist(p.214) War changes him for the worse as he is very easily led and allows others to influence him. This may have had a positive effect on Mandras if he had chosen Iannis to guide him, yet he chooses Hector, the leader of a branch of the ELAS. Joining this group causes him to abandon his personal values, and this is seen when he whips the old man. Mandras did not even notice that the man had stopped moving, had stopped screaming and whining(p.233). He manages to blank out the emotions that he should be feeling, and begins to enjoy the power he holds over this old man. If you didnt think about what it was, it sounded weirdly beautiful(p.234) After returning from the war, he becomes much more manipulative, especially towards Pelagia and Drosoula. Mandras had begun his exile into inaccessibility by dramatising the idea of death(p.180). Pelagia was convinced that he was doing it on purpose as an act of vengeance or punishment.(p.180). This shows a very cruel side to Mandras that we have never seen before, and it clearly takes the war to bring out this negative side of his character. He has clearly been indoctrinated by the propaganda of the war, and this is seen in chapter 63, when he recites communist slogans. The party is never wrong. Whoever is not with us is against us(p.447) He does not seem to be questioning what he has been told, he just repeats it. He has experienced others abusing their power during his time with the ELAS and now sees this as an approved way of behaving. De Bernià ¯Ã‚ ¿Ã‚ ½res explores power and its abuse7 He insults and belittles Pelagia after he returns from fighting and tortures her further, even though he should see that she has suffered enough during the war. De Bernieres shows a side to Mandras that readers have never seen before. He represents him as evil and sadistic, and we see Mandras refer to Pelagia as a slut. His morals have disintegrated following his fighting with the ELAS, and feels that he can do whatever he wants. This is due to the fact that the ELAS would make up their own rules for their comrades to follow. The war de-humanises Mandras and he represents the damage that can be inflicted by extreme politics. In Mandras death, De Bernieres wants readers to feel pity for him, as it is clear the communist party has seriously indoctrinated him. He dies as a victim of the war, and a desire to prove himself worthy, and this also evokes compassion in the reader Carlo is a character in the novel who shows how war can bring out the best in people. He is a very honourable character, and has to live with the secret that he is homosexual. He puts aside his desire for Corelli in order to help the romance between Pelagia and Corelli develop. I have loved you with the same surprise and gratitude that I see in your own eyes when you are with Pelagia(p.384). He shows true bravery in front of the firing squad when stepping in front of Corelli to save his life. Antonio Corellihad found in front of him the titanic bulk of Carlo Guercio(p.399). De Bernieres uses Carlos narrative in the chapters entitled LOmosessuale, and this allows the readers to sympathise further with the silent suffering that Carlo has to endure during the war. His writings are eloquently written and his language is poetic and beautiful, showing the gentle side to his character. He died on a fine day, Signora, with the sun shining and the birds singing.(P.148, Carlo) Father Arsenios was saved by the war(p.292). De Bernieres absolves Arsenios after the war and liberates him from his former self. However, the characters perceive him as a mad man and cannot see that war has brought about his finest hour. He is referred to as the crazy priest yet he feels he is a saviour and it is probable that, had he lived, Arsenios might have become a saint(p.295). De Bernieres chooses to depict war in a graphic and realistic light in his novel, Captain Corellis Mandolin. Although in many films or books war is shown to be wonderful, this idealised version is proved wrong in De Bernieres novel, as he shows the suffering that the soldiers were forced to endure. He shows that the war has different effects on different people, and it can expose their faults or their merits. Mandras is forever changed by the war, as he returns indoctrinated by the communist party. His death proves that his natural environment is the sea, where he can be accepted and does not have to prove himself. In contrast Corellis merits are shown to be more prominent as the war develops, and also as his love for Pelagia develops. The reader is drawn to the character of Corelli, even though he is an occupying soldier, as he shows compassion, kindness and respect during his time in Cephallonia.

The Four Functions of Management Essay -- essays research papers

The Four Functions of Management Management is the process of working with other and capital to achieve organizational goals. Also management is defining as creative problem solving. This creative problem solving is accomplished through the four functions of management: planning, organizing, leading and controlling. The intended result is the use of an organization's resources in a way that finish its mission and objectives. Every good manager, supervisor or leader does those tings both effectively and efficiently. At the present time in MEDDAC-Japan the organization in which I am employ, is working to reorganize some the way they offers services to the military community. Very interesting it is to see as the four functions of management in action. In the business world today, the great executives not only adapt to changing conditions but also apply fanatically, rigorously, consistently and with discipline the fundamental management principles. These fundamentals include the four traditional functions of management. They remain as relevant as ever, and they still provide the fundamentals that are needed in star ups as much as in established corporations. Management success is expanding through accomplishment of mission and objectives of the organization. Managers and leaders fail when they do not achieve mission and objectives established. Success and failure are attached in a straight line to the reasons for being in business, mission and objectives. On the other hand, accomplishing mission and objectives is not enough. Success requires equally effectiveness and efficiency. Managers, leaders and supervisor who achieve their mission and objectives are believed to be effective. Efficiency describes the connection between the amount of resources used (the input) and the amount to which objectives were accomplished (the output). However, management is complete only if the manager or team leader has become familiar with the specific situation in which he or she can develop and applied each one of the four function of management. The Functions Planning Planning is specifying the objective to be achieved and deciding in advance the correct action needed for the team or company to achieve those goals. Also is concerned with the future impact of today's decisions. Planning is a fundamental function of management from which the other three stem. The need for plann... ...nsult your people. 5. Define clearly the responsibilities being delegated to each person. Explain what is expected of the person and the bounds of their authority. Be sure agreement is reached where the person can function freely. 6. Give accurate and honest feedback. 7. Really delegate. Most responsible people do not appreciate someone looking over their shoulder, kibitzing, or taking back parts of their assignment before they have a chance to do it. 8. Stress the importance of evaluation. You must not overlook the need to evaluate and measure the extent to which your actions conformed to your plans, if the plans went well, or if the original plans were appropriate and worthwhile. References: U.S. Department of the Army. Army Headquarters. (1999, August) FM 22-100 Army Leadership: Be, Know, Do. Retrieved May 27, 2005, from https://akocomm.us.army.mil/usapa/doctrine/DR_pubs/dr_aa/pdf/fm22_100.pdf Bateman, T. S., & Snell, S. A. (2004). Management the New Competitive Landscape. New York: McGraw-Hill/Irwin. Business e-Coach. (2005). Decentralization and Delegation. Retrieved May 27, 2005, from http://www.1000ventures.com/business_guide/mgmt_decentralzation_ delegation.html.

Contemporary Issue on Chit Funds -“The Invincible”

An contemporary issue report on CHIT FUNDS â€Å"THE INVICIBLE† 2013-2014 Made by : Fakhruddin Badshah PREFACE This document sketches the the meaning, introduction, overview,its working,online chit funds, I threw some light on latest news about this sector and also tried to cover the latest upsteram and downsteam aspects of this sector (chit fund companies). My aim of writing on this issue is who will going to stop the fraudulant activities being done by this companies. I chose this segemnt for my contemporay because this is going very common among the people in today’s time.So I thought lets give away the the detail of this segment to the people. With the help of this document people will come to know what exactly going on in this domain. This sector is expanding rapidly like anything. This developments has become a catalyst for the growth of vigourous chit fund companies in all over India. So what provisions should be made to curb the alleged false practices done by t hese companies or segment. Thus it is the to think and act on it to protect the interest of small investors and their hard earned incomes. Index Introduction| 5-7| Overview of chit fund| 8|How chit fund works| 9-11| 2012-2013 Highlighted News about chit-fund| 12-13| Who will stop chit funds? | 14-18| Report of MCA| 18-21| Benefits| 21-22| Drawbacks| 23| Safety from Chit funds| 24| CHIT FUNDS – â€Å"The Invincible† Introduction: A chit fund is a type of savings scheme practiced in India, besides other forms of savings scheme offered by various public and private sector banks, post offices, insurance corporations etc. Chit Funds are indigenous financial institutions in India that cater to the financial needs of the low-income households, which have been excluded from the formal financial system. Chit†, in the legal purview, means a transaction whether called chit, chit fund, chitty, kuri or by any other name by or under which a person enters into an agreement with a specified number of persons that every one of them shall subscribe a certain sum of money (or a certain quantity of grain instead in the case of villages) by way of periodical installments over a definite period and that each such subscriber shall, in his turn, as determined by lot or by auction or by tender or in such other manner as may be specified in the chit agreement, be entitled to the prize amount.In simple words, A chit fund is a savings-borrowing scheme, in which a group of people enter into an agreement to contribute fixed amounts periodically, for a specified period of time. The amount so collected (or the chit value) is distributed among each of the persons in turns, which is determined by way of lots or an auction. Chit funds provide an opportunity to save excess cash on a daily, weekly or monthly basis, and give an easy access to it in case of emergency. Chit funds are the Indian equivalent of the Rotating Savings and Credit Associations (ROSCA) that are famous thr oughout the world.ROSCAs are a means to â€Å"save and borrow† simultaneously. It is considered one of the best instruments to cater to the needs of the poor. It enables poor people to convert their small savings into lump sums. The concept of chit funds originated more than 1000 years ago. Initially it was in the form of an informal association of traders and households within communities, wherein the members contributed some money in return for an accumulated sum at the end of the tenure. Participation in Chit funds was mainly for the purpose of purchasing some property or, in other words, for â€Å"consumption† purposes.However, in recent times, there have been tremendous alterations in the constitution and functioning of Chit funds. While in most places ROSCAs are user-owned and organized informally, in India, chit funds have been formally institutionalized as well. Legally recognized firms provide a variety of chit schemes. A Chit Fund can either be legally regist ered or unregistered. Registered Chit Funds, as the name suggests are being regulated under the various Chit Fund acts. While unregistered Chit Funds are unorganized and mostly run by the close friends, relatives or family members of the investor.Unregistered Chit Funds which exceed 100 ($2) in value are illegal in India, although it is very well known that unregistered Chit Fund industry is very popular in India, mainly in the rural and semi-urban area, where people have very little access to the banking services and where financial illiteracy is more. The regulation of the Chit Fund industry was put in place by the Government of India to address the problem of misuse of informal Chit Funds by unscrupulous promoters and founders running away with the participant’s funds, leaving the members with little recourse to retrieve their money back.Chit funds in India are governed by various state or central laws. Organized chit fund schemes are required to register with the Registra r or Firms, Societies and Chits. Various Chit Fund Acts governing the industry in India are as under: * Union Government – Chit Funds Act 1982 (Except the State of Jammu and Kashmir) * Kerala – Kerala Chitties Act 1975 * Tamil Nadu – Tamil Nadu Chit Funds Act, 1961 * Karnataka: The Chit Funds (Karnataka) Rules, 1983 * Andhra Pradesh – The Andhra Pradesh Chit Funds Act, 1971 * New Delhi- The Chit Funds Act,1982 and Delhi Chit Funds Rules, 2007 * Maharashtra – Maharashtra Chit Fund Act 1975 Uttar Pradesh: Uttar Pradesh Chit Funds Act, 1975 * Goa, Daman & Diu: The Goa, Daman and Diu Chit Funds Act, 1973 * Pudducherry/Pondicherry: The Pondicherry Chit Funds Act, 1966. An overview of chit funds: The economic development of a country depends upon the availability of resources. The main activities that contribute to the growth are production and employment. Production depends upon the inputs of the factors such as finance, raw materials, labor etc. The mo st important here bring finance, which is the chief mobilized of all the factors of production.In a money economy, finance for development initially comes from private savings. These private savings give to the secondary deposits; this is where the financial institutions come into picture. Financial institutions occupy a central place in mobilizing savings from the people and make it available to the trade, commerce and industries either as a capital or loans. The non banking sector comprises of money lenders, indigenous bankers, pawn brokers, nidhis, â€Å"chit funds† etc.The origin of chit funds can be traced way back to the 17th century when the economic wizards of state of Malabar (now known as the state of Kerala) started this activity. Those were the people who actually founded this financial institution. It became so popular and numerous that people started adopting this activity as a profession by the 18th century all over. As the chit industry grew the number of peop le involved in this industry also grew. This gave rise to many misconceptions, frauds, mismanagement etc. , in this industry.To prevent this State Government of Travancore took the first initiative and introduced the first Chit Fund Regulation being the Chit Fund Act 1914. One important regulation introduced by this act was that of a commission payable to the foreman. The Act brought about a ceiling limit on the commission payable to the foreman that is 5% maximum which is still the same even to this date. How chit funds works: Chit funds which are popular from a very long time but still some people don’t know how exactly this chit fund works and invest their money illogically.This can be understood by the following procedure: Let’s say there are 20 people who come together and form a group. Each one will contribute Rs 1,000 per month and this will continue for next 20 months (equal to number of people in the group). In this group there will be one organizer, who will take the pain of fixing the meetings, collecting money from each other and then doing other procedures. So each month all these 20 people will meet on a particular day and deposit Rs 1,000 each. That will make a total of Rs 20,000 every month.Now there will be a bid on who will take this money. Naturally there will be few people who are in need of big amount because of some reason like some big expenses, liquidity crunch, business problem, Beti ki Shaadi etc etc Out of all the people who are in need of money, someone will bid the lowest amount, depending on how desperate he is for this money. The person who bids for the lowest amount wins the bid. Suppose out of total 3 people who bid for 18,000, 17,000 and Rs 16,000, the one who bids the lowest will win.In this case it’s the person who has bid Rs 16,000. There will also be â€Å"organizer charges† which are around 5% (standard) of the total amount, so in this case its 5% of Rs 20,000, which is Rs 1,000. So out of the total 16,000 which this winner was going to get, Rs 1,000 will be deducted and the winner will get only Rs 15,000, Rs 1,000 will be organizer charges and Rs 4,000 is the profit, which will be shared by each and every member (all 20 people), it comes out to be Rs 200 per person, and it will be given back to all 20 members.So here you can see that the main winner took a big loss because of his desperate need of getting the money and others benefitted by it. So each person actually paid just 800, not 1,000 in this case (they got 200 back). Note that when a person takes the money after bidding, he can’t bid from next time, only 19 people will be eligible for bidding. Now next month the same thing happens and suppose the best bid was Rs 18,000 , then winner will get 17,000 (after deducting the organizer fees) and the rest 2,000 will be divided back to people (Rs 100 each) . So each person is paying effectively Rs 900.This way each month all the people contribute the money, someone takes the money by bidding lowest, organizer gets his charges and the rest money is divided back to members. You will realize that the person who takes the money at the end will get all the money except organizer fee, as there is no one else to bid now. So the person will get around Rs 19,000 in the end, if you try to find out the returns which he got out of the whole deal, it will depend on two things, how much lower bids were each month and the fees paid to organizer, if bids and charges are very low, then a person will make more money at the cost of other situations.So this is pretty much how a chit fund works, there are various versions of chit funds and how they work , but the idea was to communicate the basic model and how it works. | Online Chit Funds is also running with pace of E-commerce With the advent of ecommerce in India, Chit funds have also started going online. Online chit funds conduct auctions online and subscribers can pay their monthly dues and receive prize am ount online through online transactions including electronic fund transfers. Each member will have an online account through which they can manage their chit funds. 2012-2013 Highlighted News about chit-fund: . Cunning strict approaches adopted by RBI to protect the investors from delusive acts of chit fund companies. 2. Last year in the month of December, The Reserve Bank of India (RBI) warned all the state governments about the mushrooming of chit funds and also written to them to take appropriate actions against them for duping depositors. 3. RBI Governor Duvvuri Subbarao said, â€Å"The responsibility for checking the chit funds and for prosecuting the violation of law is of the state government. We have written to all the state governments to be vigilant about this and to take appropriate action†. . D Subbarao also called for greater awareness among police and the general public for checking the proliferation of the chit funds in the country. 5. On 6th December 2012, Min ister of State for Corporate Affairs RPN Singh said that 87 companies have come under the scanner for alleged irregularities related to chit fund schemes and money circulation in the garb of multi-level marketing. The Registrar of Companies (RoC) and its Regional Directors have been asked to scrutinize the balance sheets and inspect the books of accounts and other records of these 87 companies. . India's market regulator, Securities and Exchange Board of India (Sebi) had banned companies such as Rose Valley and MPS Greenery Developers from accepting deposits from the public. 7. The former chief minister also pointed it out that small savings through post offices and co-operatives has suffered a lot as many people are depositing their money to these chit funds expecting huge return. 8. In Bhubneshwar, The crime branch told that they are making a short documentary to sensitize people about illegal non-banking financial companies (NBFCs).The film will feature a host of financial manage ment companies like Seashore, Ashore and Saffex, whose irregularities were exposed recently. The Economic offences wing (EOW) of the Crime Branch has registered at least 30 cases against several fraud companies in the past six months for embezzling public deposits after giving them false promise of high return. Senior functionaries (Head) of the companies were arrested and their bank accounts being ceased. 9. EOW also making plan to start a toll free number to protect people from fraudulent activities done by chit fund companies. 10.Government making steps towards the projection of model; rules to check chit fund and MLM (Multi-level Marketing) frauds. The central government will soon make stringent provisions in place, like hefty financial penalty, jail terms, de-listing from the registrar of companies (RoC) roster, among others. Who will stop chit funds In October 2012, a women and her elder daughter were running a chit fund, committed suicide by consuming acid in Puthur in Trichy as they were unable to repay their investors. These women had started a Diwali chit fund in the year 2011 and attracted around 300 investors in the area.They had collected around `9lakh from the investors. As per norms, the chit fund company should have repaid the money with interest or given assured gifts to the investors before Diwali of the year 2012. When the investors pressurize the women, they decided to end their lives and consumed poison. Investors are helpless. This is not the only case there are numerous. Most chit fund investors are the rural poor and or small investors. Neither the victimized investors nor the police bring to book the persons responsible. Only the poor agents remain in place from whom the money cannot be recovered.According to Ministry of Corporate Affairs (MCA), there are 4256 listed or registered chit fund companies which are running their business in the country while India chit-fund association estimates that the country has in total 15000 (register ed and unregistered) companies which manage billions of rupees worth of funds. ShriRam Capital, one of the largest players, operates in four southern states and manages over USD 800 million. Some hope that recent hiccups in India’s once-booming microfinance sector, whose rise was led by microcredit, could bring even more business their way.One can imagine how big the business is all over India. Too many regulators could not stop irregularities in chit funds. Everybody agrees that irregularities need to be stopped because these are causing harm to a lot of small investors. But the question is; who will stop it? In 1978, when the RBI banned chit funds, it came under the ministry of corporate affairs as a collective investment scheme. Another way these companies work is through private placement of the non-convertible debentures or collective investment scheme. In this case, SEBI has the power to regulate it.Sahara and many other big names are in on it. Any debenture or private placement cannot be done by more than 50 people. In contrast, these kinds of companies collect money from thousands of investors. If the number of investors of share and debenture is more than 50, it needs to be registered in the market and the SEBI would control it. RBI wants the state government to take steps: In this context, RBI has a different take. Subbarao, Governor, RBI, has advised the state governments to make their law stronger to save common investors from the chit fund trap.It has written letters to the states to develop a definite action plan to take step against these multi levels marketing player. Subbarao explained that RBI has no power to regulate chit funds. So, it has asked state government to take the initiative to prevent the mushrooming of money market agencies. RBI can train police and other legal bodies about chit funds but cannot instruct the police to do so. It is a state subject to plan and executes the prevention process of chit funds. Corporate Affairs ministry looking into it:Union corporate Affairs Minister Sachin Pilot has said that the central government is looking into the issue of some chit funds and the Ponzi scheme that allegedly dupe small investors by using legal loopholes. It would also encourage state government to take necessary action against these firms. These firms are now misusing the loopholes, pilot added. Furthermore he added, â€Å"Our main objective is to protect small investors from these companies, who are taking their (investors) hard earned money. † As many as 87 companies have come under the scanner for alleged irregularities related to chit fund schemes and money circulations.Minister of State for corporate Affairs R. P. N. Singh has informed the Rajya Sabha that the directions have been issued on the basis of specific complaints received by the ministry against these companies, which are â€Å"alleged to be carrying on activities related to prize chit fund and money circulation in the garb of m ulti-level marketing. Legislative hodgepodge: Singh further said that SFIO (Serious Fraud Investigation Office) has recommended setting up of a specific central regulatory agency for the implementation of the prize chit and money circulation scheme (Banning) act, 1978.The act is administered by the Department of Financial services (DFS) which has constituted an Inter-Ministerial Group consisting of representatives from DFS, Ministry of Corporate Affairs (MCA), RBI, Security and Exchange Board of India (SEBI), Department of Consumer Affairs and Central. Report of Ministry of Corporate Affairs: List of Companies not registered but found doing Chit Business Beware of these Companies. Never join them. M/s. P. V. R. Chits (P) Ltd. , B-50, Flatted Factories, Okhla Phase-III, N. Delhi-20. | M/s. Narmal Chits (P) Ltd. , 1427, Gurudwara Road, Kotla Mubarakpur,N.Delhi-3. | M/s. Sahara Chits (P) Ltd. , WZ/A-49, Krishna Park Extension, N. Delhi-18. | M/s. Twenty Second Century Chit Fund (P) Ltd . , 4205-4206, Sant Nagar, Main Road, Rani Bagh, Delhi-34. | M/s. Skylla Chits (P) Ltd. , D-223/115, Laxmi Chambers, Laxmi Nagar, Delhi-92. | M/s. Hari Vimal Chits (P) Ltd. , Shop No. 8, M. R. Market, Rangpuri, N. Delhi-70. | M/s. Merchant Chits (P) Ltd. , CA-24/2, Tagore Garden, N. Delhi-27. | M/s. Mehar Chits (P) Ltd. , IIIrd Floor, 528, Krishna Gali, Katra Neel, Chandni Chowk, Delhi-6| M/s. Vinamar Chits (P) Ltd. , 170-E, Kamla Nagar, Delhi-7. | M/s.Vinamar Chits (P) Ltd. , 272, Hakikat Nagar, Mall Road, Delhi-9. | M/s. Well King Chits (P) Ltd. , C-47, Acharya Niketan, Mayur Vihar, Phase-I,Delhi-91. | M/s. Aegis Chit Fund (P) Ltd. , E-484, Greater Kailash-II, New Delhi-48. | List of Companies which have been debarred from doing any Chit Fund business in Delhi   NAME| ADDRESS| A. G. CHIT FUND PVT. LTD. |    | ARJIT CHITS PVT. LTD. | | BHAGMAL CHITS PVT. LTD. | | CHOJI PRITAM CHITS PVT. LTD. | | DISHTI CHIT FUND PVT. LTD. | DIRECTOR: Sh. Ajay Pandon| DISHTI CHIT FUND PVT. LTD. | DIRECTOR: Sh. Sudarshan Kapoor| EK-ONKAAR CHIT FUND PVT.LTD. | | EROS FIN. ; CHIT FUND PVT. LTD. | | GIRDHAR CHITS PVT. LTD. | | GOLDEN BENEFIT CHITS PVT. LTD. | | J. KRISHNA CHIT FUND PVT. LTD. | | J. V. CHITS PVT. LTD. | | KADS CHIT FUND PVT. LTD. | | KHAJANA CHITSPVT. LTD. | | LEAN CHITS PVT. LTD. | | MINCO CHITS PVT. LTD. | | NIKETAN CHIT FUND PVT. LTD. | | PARVATI CHIT FUND PVT. LTD. | | PARVEEN CHIT FUND PVT. LTD. | | POMA CHIT FUND PVT. LTD. | | PROSPER CHIT FUND PVT. LTD. | | RITESH CHIT FUND PVT. LTD. | | ROHTGI CHIT FUND PVT. LTD. | | ROYAL CHIT FUND PVT. LTD. | | RUHANI CHIT FUND PVT. LTD. | | S. T. S. CHIT FUND PVT.LTD. | | SAFAL CHIT FUND PVT. LTD. | | SATSANGI CHIT FUND PVT. LTD. | | SIMPLICITY CHIT FUND PVT. LTD. | | SUBHASH NAGAR CHIT FUND PVT. LTD. | | TRI NAGAR CHIT FUND PVT. LTD. | | VEDANTA CHIT FUND PVT. LTD. |    | YOG MAYA CHIT FUND PVT. LTD. |    | PARVARISH LEASING ; FIN. (P) LTD| Shop No. 6, Mafare Garden, New Delhi| M. V. A. CHIT FUND (P) LTD. | Shop No. 10, Krishna Mkt. ,Lajpat Nagar,N. Delhi. | HONOUR CHITS (P) LTD. | 2352, Sevak Bhawan,IIIrd Floor, Shop No. 9,Beadon Pura,Karol Bagh, N. Delhi. | * Source Ministry of corporate AffairsBenefits of Chit funds: Chit Fund is an attractive Investment Option which caters to people from all walks of life. It is specifically beneficial to the Salaried Class, Professionals, Businessmen and Self Employed. The uniqueness of Chit Fund as a method of Financial Planning stems from the fact that, it is both a tool for saving and borrowing. In other words, it serves the dual purpose of being an investment for your savings and in times of need the Subscriber can bid for the Prize Amount in order to meet any unexpected expenditure. The benefits of Investing in Chit Fund are numerous. You can choose how much you want to save per month. Chit funds companies offers chits of various denominations and monthly subscriptions amount ranges from Rs 2500/=(Chit value Rs 1 lakh) to monthly subscription of Rs 1,25,000. * The rate of return is very high compared to other Investment Options and it is also secure form of Investment. * Your Monthly payments will be the Chit Subscription Amount minus the Dividend. The details of the Dividend entitled for Deduction and the Balance Amount payable shall be informed every month, which is mandatory. It inculcates the habit of saving and setting apart a particular amount every month towards investment for a rainy day. * It is good for the Housewife to keep or save their small savings in Chit funds as they will get the money at the time of utmost financial need for household purposes. * It is generally used by housewives, employees of same company, peer groups, friends, and family members or some associations. * If it is used in proper or genuine way then it is makes a worth to invest in chit funds (Organized or unorganized). Drawbacks: Chit-funds do not offer any pre-determined or fixed returns. * Higher returns are earned when there are more nu mber of members in the group or if the duration of the scheme is longer. * One would earn more, when more members need emergency funds. Thus returns cannot be calculated and decided when one joins the scheme. * No security in unregistered chit fund companies. So there are more chances of getting hoax by these fraud companies. * Organizer gets benefited more from your savings. * No guarantee if fixed returns. * In chits interest earnings are lower than Fixed deposits (FD). High degree of risk is associated with chits, so relying on chit funds for saving could be more dangerous. * Chit does not make money; it is just a mechanism for liquidity and emergency funds. * Many chit fund owners are collecting huge volume of money from the common people by making false promises to them. Many poor people of our state are being allured by these chit fund owners and depositing their hard-earned money. But the people are not getting back returns for their investments How to be a Safe investor in C hit Funds:With the plethora of chit fund companies around, the safety of a chit fund lies in choosing the right one. In a registered chit fund company, under legal binding, the activities are regulated and institutionalized by the Chit Fund Act. And hence could be considered safe. However, other unregistered companies operating informally do exist. It has been also seen that depositors are being lured by chit funds companies or firms with higher returns than what banks offer them. These companies are also flourishing in the rural belts where banking penetration is low.One should carefully analyze the pros and cons before making investment in chit funds. Therefore one needs to exercise caution while choosing where he desires to invest. Chit funds definitely are an attractive option for regular saving. It inculcates a disciplined approach to financial planning. It has the added advantage of bringing a combination of savings as well as hassle free borrowing. This dual purpose investmen t tool could be a friend in need at times of unexpected financial emergencies. Thence BE SAFE AND BE SELECTIVE while going for any chit fund schemes. Contemporary Issue on Chit Funds -â€Å"The Invincible† An contemporary issue report on CHIT FUNDS â€Å"THE INVICIBLE† 2013-2014 Made by : Fakhruddin Badshah PREFACE This document sketches the the meaning, introduction, overview,its working,online chit funds, I threw some light on latest news about this sector and also tried to cover the latest upsteram and downsteam aspects of this sector (chit fund companies). My aim of writing on this issue is who will going to stop the fraudulant activities being done by this companies. I chose this segemnt for my contemporay because this is going very common among the people in today’s time.So I thought lets give away the the detail of this segment to the people. With the help of this document people will come to know what exactly going on in this domain. This sector is expanding rapidly like anything. This developments has become a catalyst for the growth of vigourous chit fund companies in all over India. So what provisions should be made to curb the alleged false practices done by t hese companies or segment. Thus it is the to think and act on it to protect the interest of small investors and their hard earned incomes. Index Introduction| 5-7| Overview of chit fund| 8|How chit fund works| 9-11| 2012-2013 Highlighted News about chit-fund| 12-13| Who will stop chit funds? | 14-18| Report of MCA| 18-21| Benefits| 21-22| Drawbacks| 23| Safety from Chit funds| 24| CHIT FUNDS – â€Å"The Invincible† Introduction: A chit fund is a type of savings scheme practiced in India, besides other forms of savings scheme offered by various public and private sector banks, post offices, insurance corporations etc. Chit Funds are indigenous financial institutions in India that cater to the financial needs of the low-income households, which have been excluded from the formal financial system. Chit†, in the legal purview, means a transaction whether called chit, chit fund, chitty, kuri or by any other name by or under which a person enters into an agreement with a specified number of persons that every one of them shall subscribe a certain sum of money (or a certain quantity of grain instead in the case of villages) by way of periodical installments over a definite period and that each such subscriber shall, in his turn, as determined by lot or by auction or by tender or in such other manner as may be specified in the chit agreement, be entitled to the prize amount.In simple words, A chit fund is a savings-borrowing scheme, in which a group of people enter into an agreement to contribute fixed amounts periodically, for a specified period of time. The amount so collected (or the chit value) is distributed among each of the persons in turns, which is determined by way of lots or an auction. Chit funds provide an opportunity to save excess cash on a daily, weekly or monthly basis, and give an easy access to it in case of emergency. Chit funds are the Indian equivalent of the Rotating Savings and Credit Associations (ROSCA) that are famous thr oughout the world.ROSCAs are a means to â€Å"save and borrow† simultaneously. It is considered one of the best instruments to cater to the needs of the poor. It enables poor people to convert their small savings into lump sums. The concept of chit funds originated more than 1000 years ago. Initially it was in the form of an informal association of traders and households within communities, wherein the members contributed some money in return for an accumulated sum at the end of the tenure. Participation in Chit funds was mainly for the purpose of purchasing some property or, in other words, for â€Å"consumption† purposes.However, in recent times, there have been tremendous alterations in the constitution and functioning of Chit funds. While in most places ROSCAs are user-owned and organized informally, in India, chit funds have been formally institutionalized as well. Legally recognized firms provide a variety of chit schemes. A Chit Fund can either be legally regist ered or unregistered. Registered Chit Funds, as the name suggests are being regulated under the various Chit Fund acts. While unregistered Chit Funds are unorganized and mostly run by the close friends, relatives or family members of the investor.Unregistered Chit Funds which exceed 100 ($2) in value are illegal in India, although it is very well known that unregistered Chit Fund industry is very popular in India, mainly in the rural and semi-urban area, where people have very little access to the banking services and where financial illiteracy is more. The regulation of the Chit Fund industry was put in place by the Government of India to address the problem of misuse of informal Chit Funds by unscrupulous promoters and founders running away with the participant’s funds, leaving the members with little recourse to retrieve their money back.Chit funds in India are governed by various state or central laws. Organized chit fund schemes are required to register with the Registra r or Firms, Societies and Chits. Various Chit Fund Acts governing the industry in India are as under: * Union Government – Chit Funds Act 1982 (Except the State of Jammu and Kashmir) * Kerala – Kerala Chitties Act 1975 * Tamil Nadu – Tamil Nadu Chit Funds Act, 1961 * Karnataka: The Chit Funds (Karnataka) Rules, 1983 * Andhra Pradesh – The Andhra Pradesh Chit Funds Act, 1971 * New Delhi- The Chit Funds Act,1982 and Delhi Chit Funds Rules, 2007 * Maharashtra – Maharashtra Chit Fund Act 1975 Uttar Pradesh: Uttar Pradesh Chit Funds Act, 1975 * Goa, Daman & Diu: The Goa, Daman and Diu Chit Funds Act, 1973 * Pudducherry/Pondicherry: The Pondicherry Chit Funds Act, 1966. An overview of chit funds: The economic development of a country depends upon the availability of resources. The main activities that contribute to the growth are production and employment. Production depends upon the inputs of the factors such as finance, raw materials, labor etc. The mo st important here bring finance, which is the chief mobilized of all the factors of production.In a money economy, finance for development initially comes from private savings. These private savings give to the secondary deposits; this is where the financial institutions come into picture. Financial institutions occupy a central place in mobilizing savings from the people and make it available to the trade, commerce and industries either as a capital or loans. The non banking sector comprises of money lenders, indigenous bankers, pawn brokers, nidhis, â€Å"chit funds† etc.The origin of chit funds can be traced way back to the 17th century when the economic wizards of state of Malabar (now known as the state of Kerala) started this activity. Those were the people who actually founded this financial institution. It became so popular and numerous that people started adopting this activity as a profession by the 18th century all over. As the chit industry grew the number of peop le involved in this industry also grew. This gave rise to many misconceptions, frauds, mismanagement etc. , in this industry.To prevent this State Government of Travancore took the first initiative and introduced the first Chit Fund Regulation being the Chit Fund Act 1914. One important regulation introduced by this act was that of a commission payable to the foreman. The Act brought about a ceiling limit on the commission payable to the foreman that is 5% maximum which is still the same even to this date. How chit funds works: Chit funds which are popular from a very long time but still some people don’t know how exactly this chit fund works and invest their money illogically.This can be understood by the following procedure: Let’s say there are 20 people who come together and form a group. Each one will contribute Rs 1,000 per month and this will continue for next 20 months (equal to number of people in the group). In this group there will be one organizer, who will take the pain of fixing the meetings, collecting money from each other and then doing other procedures. So each month all these 20 people will meet on a particular day and deposit Rs 1,000 each. That will make a total of Rs 20,000 every month.Now there will be a bid on who will take this money. Naturally there will be few people who are in need of big amount because of some reason like some big expenses, liquidity crunch, business problem, Beti ki Shaadi etc etc Out of all the people who are in need of money, someone will bid the lowest amount, depending on how desperate he is for this money. The person who bids for the lowest amount wins the bid. Suppose out of total 3 people who bid for 18,000, 17,000 and Rs 16,000, the one who bids the lowest will win.In this case it’s the person who has bid Rs 16,000. There will also be â€Å"organizer charges† which are around 5% (standard) of the total amount, so in this case its 5% of Rs 20,000, which is Rs 1,000. So out of the total 16,000 which this winner was going to get, Rs 1,000 will be deducted and the winner will get only Rs 15,000, Rs 1,000 will be organizer charges and Rs 4,000 is the profit, which will be shared by each and every member (all 20 people), it comes out to be Rs 200 per person, and it will be given back to all 20 members.So here you can see that the main winner took a big loss because of his desperate need of getting the money and others benefitted by it. So each person actually paid just 800, not 1,000 in this case (they got 200 back). Note that when a person takes the money after bidding, he can’t bid from next time, only 19 people will be eligible for bidding. Now next month the same thing happens and suppose the best bid was Rs 18,000 , then winner will get 17,000 (after deducting the organizer fees) and the rest 2,000 will be divided back to people (Rs 100 each) . So each person is paying effectively Rs 900.This way each month all the people contribute the money, someone takes the money by bidding lowest, organizer gets his charges and the rest money is divided back to members. You will realize that the person who takes the money at the end will get all the money except organizer fee, as there is no one else to bid now. So the person will get around Rs 19,000 in the end, if you try to find out the returns which he got out of the whole deal, it will depend on two things, how much lower bids were each month and the fees paid to organizer, if bids and charges are very low, then a person will make more money at the cost of other situations.So this is pretty much how a chit fund works, there are various versions of chit funds and how they work , but the idea was to communicate the basic model and how it works. | Online Chit Funds is also running with pace of E-commerce With the advent of ecommerce in India, Chit funds have also started going online. Online chit funds conduct auctions online and subscribers can pay their monthly dues and receive prize am ount online through online transactions including electronic fund transfers. Each member will have an online account through which they can manage their chit funds. 2012-2013 Highlighted News about chit-fund: . Cunning strict approaches adopted by RBI to protect the investors from delusive acts of chit fund companies. 2. Last year in the month of December, The Reserve Bank of India (RBI) warned all the state governments about the mushrooming of chit funds and also written to them to take appropriate actions against them for duping depositors. 3. RBI Governor Duvvuri Subbarao said, â€Å"The responsibility for checking the chit funds and for prosecuting the violation of law is of the state government. We have written to all the state governments to be vigilant about this and to take appropriate action†. . D Subbarao also called for greater awareness among police and the general public for checking the proliferation of the chit funds in the country. 5. On 6th December 2012, Min ister of State for Corporate Affairs RPN Singh said that 87 companies have come under the scanner for alleged irregularities related to chit fund schemes and money circulation in the garb of multi-level marketing. The Registrar of Companies (RoC) and its Regional Directors have been asked to scrutinize the balance sheets and inspect the books of accounts and other records of these 87 companies. . India's market regulator, Securities and Exchange Board of India (Sebi) had banned companies such as Rose Valley and MPS Greenery Developers from accepting deposits from the public. 7. The former chief minister also pointed it out that small savings through post offices and co-operatives has suffered a lot as many people are depositing their money to these chit funds expecting huge return. 8. In Bhubneshwar, The crime branch told that they are making a short documentary to sensitize people about illegal non-banking financial companies (NBFCs).The film will feature a host of financial manage ment companies like Seashore, Ashore and Saffex, whose irregularities were exposed recently. The Economic offences wing (EOW) of the Crime Branch has registered at least 30 cases against several fraud companies in the past six months for embezzling public deposits after giving them false promise of high return. Senior functionaries (Head) of the companies were arrested and their bank accounts being ceased. 9. EOW also making plan to start a toll free number to protect people from fraudulent activities done by chit fund companies. 10.Government making steps towards the projection of model; rules to check chit fund and MLM (Multi-level Marketing) frauds. The central government will soon make stringent provisions in place, like hefty financial penalty, jail terms, de-listing from the registrar of companies (RoC) roster, among others. Who will stop chit funds In October 2012, a women and her elder daughter were running a chit fund, committed suicide by consuming acid in Puthur in Trichy as they were unable to repay their investors. These women had started a Diwali chit fund in the year 2011 and attracted around 300 investors in the area.They had collected around `9lakh from the investors. As per norms, the chit fund company should have repaid the money with interest or given assured gifts to the investors before Diwali of the year 2012. When the investors pressurize the women, they decided to end their lives and consumed poison. Investors are helpless. This is not the only case there are numerous. Most chit fund investors are the rural poor and or small investors. Neither the victimized investors nor the police bring to book the persons responsible. Only the poor agents remain in place from whom the money cannot be recovered.According to Ministry of Corporate Affairs (MCA), there are 4256 listed or registered chit fund companies which are running their business in the country while India chit-fund association estimates that the country has in total 15000 (register ed and unregistered) companies which manage billions of rupees worth of funds. ShriRam Capital, one of the largest players, operates in four southern states and manages over USD 800 million. Some hope that recent hiccups in India’s once-booming microfinance sector, whose rise was led by microcredit, could bring even more business their way.One can imagine how big the business is all over India. Too many regulators could not stop irregularities in chit funds. Everybody agrees that irregularities need to be stopped because these are causing harm to a lot of small investors. But the question is; who will stop it? In 1978, when the RBI banned chit funds, it came under the ministry of corporate affairs as a collective investment scheme. Another way these companies work is through private placement of the non-convertible debentures or collective investment scheme. In this case, SEBI has the power to regulate it.Sahara and many other big names are in on it. Any debenture or private placement cannot be done by more than 50 people. In contrast, these kinds of companies collect money from thousands of investors. If the number of investors of share and debenture is more than 50, it needs to be registered in the market and the SEBI would control it. RBI wants the state government to take steps: In this context, RBI has a different take. Subbarao, Governor, RBI, has advised the state governments to make their law stronger to save common investors from the chit fund trap.It has written letters to the states to develop a definite action plan to take step against these multi levels marketing player. Subbarao explained that RBI has no power to regulate chit funds. So, it has asked state government to take the initiative to prevent the mushrooming of money market agencies. RBI can train police and other legal bodies about chit funds but cannot instruct the police to do so. It is a state subject to plan and executes the prevention process of chit funds. Corporate Affairs ministry looking into it:Union corporate Affairs Minister Sachin Pilot has said that the central government is looking into the issue of some chit funds and the Ponzi scheme that allegedly dupe small investors by using legal loopholes. It would also encourage state government to take necessary action against these firms. These firms are now misusing the loopholes, pilot added. Furthermore he added, â€Å"Our main objective is to protect small investors from these companies, who are taking their (investors) hard earned money. † As many as 87 companies have come under the scanner for alleged irregularities related to chit fund schemes and money circulations.Minister of State for corporate Affairs R. P. N. Singh has informed the Rajya Sabha that the directions have been issued on the basis of specific complaints received by the ministry against these companies, which are â€Å"alleged to be carrying on activities related to prize chit fund and money circulation in the garb of m ulti-level marketing. Legislative hodgepodge: Singh further said that SFIO (Serious Fraud Investigation Office) has recommended setting up of a specific central regulatory agency for the implementation of the prize chit and money circulation scheme (Banning) act, 1978.The act is administered by the Department of Financial services (DFS) which has constituted an Inter-Ministerial Group consisting of representatives from DFS, Ministry of Corporate Affairs (MCA), RBI, Security and Exchange Board of India (SEBI), Department of Consumer Affairs and Central. Report of Ministry of Corporate Affairs: List of Companies not registered but found doing Chit Business Beware of these Companies. Never join them. M/s. P. V. R. Chits (P) Ltd. , B-50, Flatted Factories, Okhla Phase-III, N. Delhi-20. | M/s. Narmal Chits (P) Ltd. , 1427, Gurudwara Road, Kotla Mubarakpur,N.Delhi-3. | M/s. Sahara Chits (P) Ltd. , WZ/A-49, Krishna Park Extension, N. Delhi-18. | M/s. Twenty Second Century Chit Fund (P) Ltd . , 4205-4206, Sant Nagar, Main Road, Rani Bagh, Delhi-34. | M/s. Skylla Chits (P) Ltd. , D-223/115, Laxmi Chambers, Laxmi Nagar, Delhi-92. | M/s. Hari Vimal Chits (P) Ltd. , Shop No. 8, M. R. Market, Rangpuri, N. Delhi-70. | M/s. Merchant Chits (P) Ltd. , CA-24/2, Tagore Garden, N. Delhi-27. | M/s. Mehar Chits (P) Ltd. , IIIrd Floor, 528, Krishna Gali, Katra Neel, Chandni Chowk, Delhi-6| M/s. Vinamar Chits (P) Ltd. , 170-E, Kamla Nagar, Delhi-7. | M/s.Vinamar Chits (P) Ltd. , 272, Hakikat Nagar, Mall Road, Delhi-9. | M/s. Well King Chits (P) Ltd. , C-47, Acharya Niketan, Mayur Vihar, Phase-I,Delhi-91. | M/s. Aegis Chit Fund (P) Ltd. , E-484, Greater Kailash-II, New Delhi-48. | List of Companies which have been debarred from doing any Chit Fund business in Delhi   NAME| ADDRESS| A. G. CHIT FUND PVT. LTD. |    | ARJIT CHITS PVT. LTD. | | BHAGMAL CHITS PVT. LTD. | | CHOJI PRITAM CHITS PVT. LTD. | | DISHTI CHIT FUND PVT. LTD. | DIRECTOR: Sh. Ajay Pandon| DISHTI CHIT FUND PVT. LTD. | DIRECTOR: Sh. Sudarshan Kapoor| EK-ONKAAR CHIT FUND PVT.LTD. | | EROS FIN. ; CHIT FUND PVT. LTD. | | GIRDHAR CHITS PVT. LTD. | | GOLDEN BENEFIT CHITS PVT. LTD. | | J. KRISHNA CHIT FUND PVT. LTD. | | J. V. CHITS PVT. LTD. | | KADS CHIT FUND PVT. LTD. | | KHAJANA CHITSPVT. LTD. | | LEAN CHITS PVT. LTD. | | MINCO CHITS PVT. LTD. | | NIKETAN CHIT FUND PVT. LTD. | | PARVATI CHIT FUND PVT. LTD. | | PARVEEN CHIT FUND PVT. LTD. | | POMA CHIT FUND PVT. LTD. | | PROSPER CHIT FUND PVT. LTD. | | RITESH CHIT FUND PVT. LTD. | | ROHTGI CHIT FUND PVT. LTD. | | ROYAL CHIT FUND PVT. LTD. | | RUHANI CHIT FUND PVT. LTD. | | S. T. S. CHIT FUND PVT.LTD. | | SAFAL CHIT FUND PVT. LTD. | | SATSANGI CHIT FUND PVT. LTD. | | SIMPLICITY CHIT FUND PVT. LTD. | | SUBHASH NAGAR CHIT FUND PVT. LTD. | | TRI NAGAR CHIT FUND PVT. LTD. | | VEDANTA CHIT FUND PVT. LTD. |    | YOG MAYA CHIT FUND PVT. LTD. |    | PARVARISH LEASING ; FIN. (P) LTD| Shop No. 6, Mafare Garden, New Delhi| M. V. A. CHIT FUND (P) LTD. | Shop No. 10, Krishna Mkt. ,Lajpat Nagar,N. Delhi. | HONOUR CHITS (P) LTD. | 2352, Sevak Bhawan,IIIrd Floor, Shop No. 9,Beadon Pura,Karol Bagh, N. Delhi. | * Source Ministry of corporate AffairsBenefits of Chit funds: Chit Fund is an attractive Investment Option which caters to people from all walks of life. It is specifically beneficial to the Salaried Class, Professionals, Businessmen and Self Employed. The uniqueness of Chit Fund as a method of Financial Planning stems from the fact that, it is both a tool for saving and borrowing. In other words, it serves the dual purpose of being an investment for your savings and in times of need the Subscriber can bid for the Prize Amount in order to meet any unexpected expenditure. The benefits of Investing in Chit Fund are numerous. You can choose how much you want to save per month. Chit funds companies offers chits of various denominations and monthly subscriptions amount ranges from Rs 2500/=(Chit value Rs 1 lakh) to monthly subscription of Rs 1,25,000. * The rate of return is very high compared to other Investment Options and it is also secure form of Investment. * Your Monthly payments will be the Chit Subscription Amount minus the Dividend. The details of the Dividend entitled for Deduction and the Balance Amount payable shall be informed every month, which is mandatory. It inculcates the habit of saving and setting apart a particular amount every month towards investment for a rainy day. * It is good for the Housewife to keep or save their small savings in Chit funds as they will get the money at the time of utmost financial need for household purposes. * It is generally used by housewives, employees of same company, peer groups, friends, and family members or some associations. * If it is used in proper or genuine way then it is makes a worth to invest in chit funds (Organized or unorganized). Drawbacks: Chit-funds do not offer any pre-determined or fixed returns. * Higher returns are earned when there are more nu mber of members in the group or if the duration of the scheme is longer. * One would earn more, when more members need emergency funds. Thus returns cannot be calculated and decided when one joins the scheme. * No security in unregistered chit fund companies. So there are more chances of getting hoax by these fraud companies. * Organizer gets benefited more from your savings. * No guarantee if fixed returns. * In chits interest earnings are lower than Fixed deposits (FD). High degree of risk is associated with chits, so relying on chit funds for saving could be more dangerous. * Chit does not make money; it is just a mechanism for liquidity and emergency funds. * Many chit fund owners are collecting huge volume of money from the common people by making false promises to them. Many poor people of our state are being allured by these chit fund owners and depositing their hard-earned money. But the people are not getting back returns for their investments How to be a Safe investor in C hit Funds:With the plethora of chit fund companies around, the safety of a chit fund lies in choosing the right one. In a registered chit fund company, under legal binding, the activities are regulated and institutionalized by the Chit Fund Act. And hence could be considered safe. However, other unregistered companies operating informally do exist. It has been also seen that depositors are being lured by chit funds companies or firms with higher returns than what banks offer them. These companies are also flourishing in the rural belts where banking penetration is low.One should carefully analyze the pros and cons before making investment in chit funds. Therefore one needs to exercise caution while choosing where he desires to invest. Chit funds definitely are an attractive option for regular saving. It inculcates a disciplined approach to financial planning. It has the added advantage of bringing a combination of savings as well as hassle free borrowing. This dual purpose investmen t tool could be a friend in need at times of unexpected financial emergencies. Thence BE SAFE AND BE SELECTIVE while going for any chit fund schemes.