Globalisation/Globalization - Economic Advantages and Disadvantages?
Can you please give me the advantages and disadvantages of globalisation/globalization in reference to the economy. If you use any sources, i.e. websites, can you please make sure you reference to them as this would be very helpful in allowing me to follow it up for further study. Many Thanks, p.s. Best answer goes to the person who gives the most detail and/or a good website....i.e. NOT WIKIPEDIA!!! :-)
How do asset reconstruction companies work in relation to banks?
"Asset reconstruction" means acquisition by any securitisation company or reconstruction company of any right or interest of any bank or financial institution in any financial assistance for the purpose of realisation of such financial assistance."Securitisation companies or reconstruction companies" means a company formed under Recovery of debts due to Banks and financial institutions act, 1993 and registered under the Companies Act for the purpose of asset reconstruction.How Asset reconstruction(ARC) company works.1) ARC will take over the NPA's from banks for fixed cost which is less than the NPA amount.2) NPA is transferred to ARC along with any security which is pledged while taking loan.3) Now ARC will issue security receipts for fixed interest rate and will raise money.(These raised money can be invested in financial institutions)"security receipt" means a receipt or other security, issued by a securitisation company or reconstruction company to any qualified institutional buyer pursuant to a scheme, evidencing the purchase or acquisition by the holder thereof, of an undivided right, title or interest in the financial asset involved in securitisation;"qualified institutional buyer" means a financial institution, insurance company, bank, state financial corporation, state industrial development corporation, trustee or securitisation company or reconstruction company which has been granted a certificate of registration under sub-section (4) of section 3 or any asset management company making investment on behalf of mutual fund or pension fund or a foreign institutional investor registered under the Securities and Exchange Board of India Act, 1992 (15 of 1992) or regulations made thereunder, or any other body corporate as may be specified by the Board;4) Now ARC will start legal procedure to sell the pledged security in the market. Which will take many years depending on the complications involved. Mean while Money raised by issuing security receipts are used for meeting expenses of the company, ARC has to pay timely interest on security receipts to the buyers (qualified institutional buyers)5) After selling the asset by clearing all litigations, ARC company will reedem(take back) the security receipts which are issued earlier for agreed price.profit of ARC = sale Price of security + interest on investment - purchase cost of npa - interest on security receipts - Expenses.India's first ARC - ARCIL http://www.arcil.co.in/aboutus/a...
What is the difference between microfinance and commercial banks?
Commercial banks are Financial institutions started by/under some banking regulation act of the country. The aim of the commercial bank/s is to accept deposits and lend money to customers. Commercial banks also have nonbanking activities such as insurance, security brokerage, stocks and funds and so on. Commercial banks motive is to earn profits and expand their business and branches. registration, tax payment and dividends are key features of commercial banksMicrofinance is something of a group activity. The investors are not looking for profit or rather profit is not the main aim. The aim is to lend money to a fellow group member form the savings the members put together (predecided). Slowly but surely the group makes sure the money is being utilized and the group member is able to earn profit form an income generating activity (dairy, piggery, sheep/goat rearing, carpentry etc). Every group member gets a loan and thus the group moves towards self sustenance. It is what you call “Social banking”. No registration, no taxation and no dividends. One for all and all for one
Has anyone heard of a cooling tower 'universal rating chart'?
I am studying for my PE exam and came across a sample problem that refers to using a 'universal rating chart' for a cooling tower operating at 20,000 gpm and 90-80-70 deg. F and changing the temperatures to 125-90-80 deg. F. I have not been able to find something like this and the chart that the cooling tower guru at work found in a vendor catalog isn't quite it. If anyone can direct me to a website or a reference/standard/book, etc. that would have it, I would GREATLY appreciate it! I figure it might be handy to have down the road anyway since I am a mechanical engineer in the power industry. Thanks!