Friday, July 8, 2016

Wholesale banking; merchant bank

Wholesale banking is the provision of services by banks to organizations such as Mortgage Brokers, large corporate clients, mid-sized companies, real estate developers and investors, international trade finance businesses, institutional customers (such as pension funds and government entities/agencies), and services offered to other banks or other financial institutions.[1][2]
Wholesale finance refers to financial services conducted between financial services companies and institutions such as banks, insurers, fund managers, and stockbrokers.
Modern wholesale banks engage in:
  • Finance wholesaling
  • Underwriting
  • Market making
  • Consultancy
  • Mergers and acquisitions
  • Fund management

merchant bank is a financial institution providing capital to companies in the form of share ownership instead of loans. A merchant bank also provides advisory on corporate matters to the firms in which they invest. In the United Kingdom, the historical term "merchant bank" refers to an investment bank.
Today, according to the U.S. Federal Deposit Insurance Corporation (FDIC), "the term merchant banking is generally understood to mean negotiated private equity investment by financial institutions in the unregistered securities of either privately or publicly held companies."[1] Both commercial banks and investment banks may engage in merchant banking activities. Historically, merchant banks' original purpose was to facilitate and/or finance production and trade of commodities, hence the name "merchant". Few banks today restrict their activities to such a narrow scope.

Classical languages

In 2004, the Government of India declared that languages that met certain requirements could be accorded the status of a "Classical Language in India".[85] Languages thus far declared to be Classical are Tamil (in 2004),[86] Sanskrit (in 2005),[87] Kannada (in 2008), Telugu (in 2008),[88] Malayalam (in 2013),[89] and Odia (in 2014).[90][91] In a 2006 press release, Minister of Tourism & Culture Ambika Soni told the Rajya Sabha the following criteria were laid down to determine the eligibility of languages to be considered for classification as a "Classical Language",[92]

High antiquity of its early texts/recorded history over a period of 1500–2000 years; a body of ancient literature/texts, which is considered a valuable heritage by generations of speakers; the literary tradition be original and not borrowed from another speech community; the classical language and literature being distinct from modern, there may also be a discontinuity between the classical language and its later forms or its offshoots.
The Government has been criticised for not including Pali as a classical language, as experts have argued it fits all the above criteria.[93]


As per Government of India's Resolution No. 2-16/2004-US(Akademies) dated 1 November 2004, the benefits that will accrue to a language declared as "Classical Language" are
  1. Two major international awards for scholars of eminence in Classical Indian Languages are awarded annually.
  2. A 'Centre of Excellence for Studies in Classical Languages' is set up.
  3. The University Grants Commission be requested to create, to start with at least in the Central Universities, a certain number of Professional Chairs for Classical Languages for scholars of eminence in Classical Indian Languages.[94]

Financial Action Task Force on Money Laundering (FATF)

The Financial Action Task Force on Money Laundering (FATF) was established during the 1989 G7 Summit in Paris to combat the growing problem of money laundering. The task force was charged with studying money laundering trends, monitoring legislative, financial and law enforcement activities taken at the national and international level, reporting on compliance, and issuing recommendations and standards to combat money laundering. At the time of its creation, the organisation had 16 original members.
In its first year, the FATF issued a report containing forty recommendations to more effectively fight money laundering. These standards were revised in 2003 to reflect evolving patterns and techniques in money laundering.
The mandate of the organisation was expanded to include terrorist financing following the September 11 terror attacks.

चार्ल्स बुकोव्स्की

 १६ अगस्त १९२० को जर्मनी में जन्मे अमेरिकी कविउपन्यासकारऔर लघु कथा लेखक चार्ल्स बुकोव्स्की का लेखन लॉस एंजेल्स के सामाजिकसांस्कृतिक और आर्थिक जीवन से प्रभावित रहा. उनके लेखन में गरीब अमेरिकियों के साधारण जीवनलेखन की क्रियाअल्कोहलस्त्रियों से सम्बन्ध और काम की बोझिलता जैसे विषय बार-बार आते हैं. बुकोव्स्की ने हजारों कविताएँ और सैकड़ों लघुकहानियाँ तो लिखीं ही,छः उपन्यास भी उनके खाते में हैं. अपने जीवनकाल में उन्होंने कोइ साथ किताबें प्रकाशित कीं. लॉस एंजेल्स के अंडरग्राउंड से छपने वाले एक अखबार में छपी उनकी रचना डायरी ऑफ़ अ डर्टी ओल्ड मैन’ के छपने के बाद एफ़बीआई ने बाकायदा उनकी एक फ़ाइल रखना शुरू कर दी थी.

उन्हें याद करते हुए उनका एक उद्धरण-

जो ईश्वर पर भरोसा करते हैंउनके ज़्यादातर बड़े सवाल अनुत्तरित रह जाते हैं. लेकिन हममें से जो आसानी से ईश्वर के फ़ॉर्मूले को स्वीकार नहीं कर पातेउनके लिए बड़े उत्तर पत्थर में खुदे नहीं रह जाते. हम नई परिस्थितियों और नई खोजों में खुद को ढाल लेते हैं. हम बहुत लचीले होते हैं. प्यार को कोई आदेश या कोई यकीन या कोई घोषणा होने की ज़रुरत नहीं. मैं खुद अपना ईश्वर हूँ. हम यहाँ उस सारे को भूलने आये हैं जो हमें गिरजाघरराज्य और शिक्षा प्रणाली ने सिखाया है. हम यहाँ बीयर पीने आये हैं. हम तमाम मुसीबतों पर ठहाके लगाने आये हैं और अपने जीवन को इतने अच्छे से जीने कि मौत भी हमें ले जाते हुए काँपे.”