Professional Development Plan Essay

Introduction The Professional Development Plan (PDP) is a structured process made by an individual to reflect on their own learning, performance and/or achievement and to plan their personal, educational and career development. PDP complies a range of procedures, such as planning, doing, recording, and reflection. (The Higher Education Academy 2012) The objective of this PDP is to help improve existing skills or to develop new ones. In order to do so, a self-assessment, SWOT analysis, SMART and Belbin’s self-perception inventory will be completed, to acknowledge strengths and weaknesses. Section 1: Professional Development Plan For this PDP three distinct goals will be developed. * Individual Goal – Time Management and Personal Organisation * Group Working Goal – Searching databases * Academic Goal – Listen, read and take notes To help set the goals, three goals worksheets were completed and the SMART diagnosis was applied (See Appendix 1 and 2). SMART is an acronym for Specific, Measurable Attainable, Realistic and Time-bound. (Scanlon 2011) Time Management and Personal Organisation This goal was chosen as the individual goal because managing time and being organised was always a struggle, and therefore for several times in numerous occasions the effect was unpleasant. By being able to manage time and being more organised, opportunities will rise to have a more effective performance in personal, academic and professional life. This weakness was noted through the self-assessment comprised by a friend, a colleague and myself (See Appendix 3). This skill was not developed sooner out of pure laziness and lack of motivation. To achieve this goal I will do weekly schedules to see what was done during the week and check if certain activities were accomplished (See Appendix 4). This goal is set to be developed until 11th March 2012. Searching Databases This goal was chosen as the group working goal because searching databases was always a difficult task, either it was for personal, academic or work related purposes. Whenever there are group works, this task is always passed on to other members, which made my ability to improve less feasible. This weakness was noted through the Belbin Test (See Appendix 5). This skill was not developed until now because there was lack of knowledge of databases resources. To achieve this goal I will carry on a research about Miss Universe, looking for information in all resources I can find (See appendix 6). As there were no relevant books on the subject, I had to confine the search to the Internet. This goal is set to be developed until 12th March 2012. Listen, Read and Take Notes This goal was chosen as the academic goal because as English is not my first language, it is sometimes difficult to keep up with lectures and at the same time take notes, as well as it is difficult to read, comprehend in just one go, and take notes. By developing this skill, when preparing for exams, being in lectures, workshops and work meetings, listening, reading and taking notes, will become simple, efficient, quick and easy. This weakness was noted while in class, at home and at work, and later on identified in SWOT analysis and also through the self-assessment comprised by a friend, a colleague and myself (See Appendix 3 and 7). The SWOT analysis is a notably useful tool to identify and analyse opportunities for development and related barriers and challenges. SWOT is an acronym for Strengths, Weaknesses, Opportunities and Threats. Being Strengths and Weaknesses internal factors and Opportunities and Threats external factors. (Scanlon 2011) To achieve this goal I will take notes from lectures and from a few pages of one of the recommended books for this unit (See Appendix 8). This goal is set to be developed until 12th March 2012. Section 2: Progress Review Time Management and Personal Organisation For this goal I did weekly sheets to see my development. I did the first weekly sheet in 19th December 2011. As I was not working at the moment my only responsibility was University, and seems like the less responsibility one has, the less he/she does. That is exactly what was happening. I was spending most of my days watching television and/or watching series online, or simply just spending days sleeping. I had my mother and a friend over for Christmas and New Year. With their presence here, I felt like doing even less, because all I wanted was to spend time with them or go out and show them Manchester. So basically all the activities I was always planning to do, I ended up not doing them. I knew I had an exam in early January, and yet I did not study until the week before the exam. I managed to pass the exam with a low pass, 44%, but I know I could have done much better if only I dedicated myself to study longer and in advance. So after this happened I realized it was time for me to stop being lazy and change my attitude towards the use of my time. I started watching less television and less series online. I started reading a novel ‘The Lucky One’, I started getting more worried with the planning of my PDP, I joined the gym and I was more focused in finding a job. For a while it was difficult having so many activities after not having basically none. I started going to the gym more often, like twice or three times a week. I started going to Church also; I did not go in a long time. I was more focused in classroom, and I understood more of the topics in study. I was feeling more motivated, less lazy, and I was managing my time very well. I was more organized with my studies, and personal life. I kept a diary so I would know what I did and what I needed to do. So in the end, I think the development of this goal helped me a lot, it improved my attendance in University, and also my productivity at home. Searching Databases For this goal I did a research on Miss Universe. Their history, how it started, who invented it, what is its purpose, previous contestants, the actual Miss Universe Leila Lopes, that is Miss Angola, from my birth country. I have to admit I chose this as my research topic because of how proud I am of her. She is a beautiful woman, and gave her best and deserved to won. As I was doing the research on the subject, I realized I did not choose the best topic to do a research, because I could only find information on the Internet. There are no relevant books on this subject, and even the news I found, were on online newspapers. But as I did not have more time to think of a new topic, and start doing a new research, because I still had my last goal to develop, I had to keep up with lectures of both units, and look for a job, I just kept this topic. I do not think I had great improvements with this goal, and it was mainly because of my topic of research choice. I could not explore others sources, and that confined me to the Internet, which has a wide range of irrelevant information. So this is one goal I will keep on developing because it is really necessary for the years ahead. Listen, Read and Take Notes For this goal I gathered as evidence all the notes I have from lectures I attended, and notes I made from a few pages of one of the recommended books: ‘Organizational Behaviour’ by Buchanan and Huczynski (2010). It was hard in the beginning because I did not know where to begin. I was trying to be more focus in class, by not having my phone close, and not talking with colleagues unnecessarily. As we only have 2 classes per week, it was hard to develop this skill, so I decided that notes from the lectures alone would not be enough. I started to do notes from the book referred above. And after a while I was feeling more confident, my notes were becoming good. I would write more in the lecture notes, instead of just listening and getting home, and not knowing what were the main points of that topic. I will still keep on developing this skill because it is non-stop, I know I am still far from excellent, but it was good to give it a go, and actually see some changes even though they are little. Goal Setting and S.M.A.R.T goals Specific – What (goal), why (reasons), which (constraints) etc.? Clearly stated outcome you wish to achieve. Measurable – Can progress be assessed? A goal that you can evidence, i.e., demonstrate its achievement in way and can show progress. Attainable – Can the goal be accomplished? The goal should not be too high or low. Goals that are set too high or too low become meaningless. It should stretch you a bit, without being too extreme. Realistic – Is the goal worthwhile? Make sure goal can be achieved within the framework of your life before the submission date, not as you would hope or would like it to be. You have to be willing and able to work on the goal. Time-bound – What is your target completion date? Make sure goal that you set for yourself can be achieved within the timeframe and before the submission deadline of 14 March 2012. You must have start and endpoints.

Market Survey on Commodities Future Trading

An Industry Internship Project On COMMODITIES FURTURE TRADING WITH RESPECT TO GEOJIT COMTRADE LTD – MARKET SURVEY Done at CALICUT, KERALA Under the guidance of MRS. C. ANITHA RANI (Asst. Professor of Marketing Dept. ) (Project Guide) Mr. CHACKO . C. VARGHEESE (Regional manager) (Corporate Guide) Submitted By: LAKSHMI. P. K Roll No: 20028 SIVA SIVANI INSTITUTE OF MANAGEMENT KOMPALLY, SECUNDERABAD ACKNOWLEDGEMENTFirst of all I would like to thank Geojit COMtrade Ltd, which is a leading organization in commodity trading, for giving me an opportunity to work with them and to do Market Research to gain practical knowledge of how a Commodities Company works. My special obligations to my corporate guide Mr. Chacko C Varghese, Regional manager, GC Branch, Calicut, for granting permission to do the project in their esteemed organization. I thank him for dedicating his valuable time in reviewing my project work periodically and for directing me all the way.I am deeply indebted to thank my faculty guideAsst. Prof. C. Anita Rani. I also like to thank all my faculties who have taught me and haveshared their experience with mewhich has helped us in doing my project. I am thankful to Mr. Ajeesh Paul and Mr. Bijesh K. B, senior executives of Geojit COMtrade ltd, Calicut who was always ready to clarify my doubts related to the topic. And my sincere thanks to them. Also, I am thankful to my family, friends, and classmates and to the Almighty.Date: Signature Place: DECLARATION I, Lakshmi. P. K declare that this project entitled â€Å"Market research on commodity future trading with respect to Geojit COMtrade Ltd. †, submitted for the award of the PGDM Triple Specialization is a record of original project – research study- carried out during April 5th- June 5th) , that the project has not formed before the basis for the award of any Degree/ Diploma/ Associateship/ Fellowship of any other similar title.Ithas been completed by me at Geojit COMtrade Ltd, Calicut under the guidance ofAsst. Prof. Anita Rani,faculty of marketing department of Siva Sivani Institute of Management. Date: Signature Place: C O N T E N T S DECLARATION ACKNOWLEDGEMENT CERTIFICATE TABLE OF CONTENTS PAGE NO Chapter – IIntroduction 5 Statement of problem 5 Objectives of the study 6 Scope of study 6 Literature Review 6 Chapter – II Industry Profile 8 Company Profile 19 Departmental Details 26Chapter-III Research Methodology 44 Sources of data 45 Sampling Plan 45 Limitations 45 Chapter IV Data Analysis: Interpretation and Findings 46 Chapter-VSWOT Analysis 71 Conclusion 73 Suggestions 74 Bibliography 75 Annexure 76 CHAPTER -I INTRODUCTION Commodity trading is an area which has gained prominence ever since the dawn of civilization.It can be attributed to the fact that commodities are an integral part of our lives. Over these years there has been a tremendous growth in this segment which in turn has acted as the pillar of strength for the developmen t of our economy. This has made it an attractive investment avenue for investors. Earlier we witnessed lot of money being invested in those companies which specialized in the production of commodities. Now we have a trend reversal; commodities have gained prominence over the times.The rapidly advancing technology, particularly the Internet, has drastically changed the social and economic landscapes and every aspect of our daily lives. In the Securities Industry & Futures Commodities, the Internet has facilitated on-line trading, changing the way the market works, as well as the way the investors access the market. Having taken advantage of information technology at an opportune time, India has emerged as a front-running country of on-line trading in the global securities & commodities markets. On-line trading† is broadly defined as a trading mechanism where investors place orders and confirm trading results via electronic communication channels, such as the Internet, mobile ph ones, In India, the whole process of securities & commodities transactions, from order placement and routing, order execution, to trade confirmation, is fully automated, thus enabling the investors who have placed orders to confirm their trading results within few seconds. Geojit COMtrade Ltd. is a commodity trading service firm. It specializes in agricultural commodities, base metals, precious metals, bullion, and energy.The firm engages in trading services on commodities traded on the MCX and NCDEX in India. Its Research Division offers technical and fundamental research services. The firm also provides research on markets, currency, and economy. Geojit COMtrade Ltd. is based in Kochi, India. STATEMENT OF THE PROBLEM Online future commodities trading involve personal factors, technical factors, business factors and economic factors. The interplay of these factors on commodities market requires a deep study about the pattern process and procedures and performance.This study is inte nded to identify the various concepts about online commodities trading and its way of functioning. 1. To identify the level of awareness of commodities online future trading. 2. To identify the target consumer for online trading of commodities. 3. To identify the preference of customers to various investment avenues like commodity market, shares, mutual fund, bank deposits, insurance, debentures and post office savings. 4. To identify the awareness level of Geojit COMtrade Ltd. and feedback from the customers about the firm. OBJECTIVES OF THE STUDYMy project work programmed was also directed to some particular targets and the main objectives of the study are as bellow; 1. To clearly state the awareness level about Geojit commodities 2. To understand the perception of people about Geojit commodities 3. To devise an approach by making people aware of Geojit commodities The Main purpose of conducting the Survey for Geojit COMtrade Ltd * To identify the target consumer for commodities b usiness. * To identify the preference of customers to various investment avenues like commodity market, shares, mutual fund, bank deposits, insurance, debentures and post office savings. To identify the awareness level of Geojit COMtrade Ltd. and feedback from the customers about the firm. * To get a feel of the Customers’ perception about Geojit commodities services products. * To find an appropriate communication message for attracting the people to Geojit COMtrade Ltd SCOPE OF THE STUDY Globalization of the financial market has led to a manifold increase in investment. New markets have been opened; new instruments have been developed; and new services have been launched. Besides, a number of opportunities and challenges have also been thrown open.Online Commodities trading is new as compared to Equity market in India. Mainly three exchanges are involved in online commodities trading MCX, NCDEX & NMCE LITERATURE REVIEW So many studies are made in the area of commodity futur e trading. Some of the important studies are reviewed as follows; In a well-known literature survey on commodity futures research, Gray and Rutledge observed that, ‘Anyone who undertakes a survey of the literature on futures trading is confronted with an amorphous and rather disjointed list of publications (1971 p 57).Some of the pioneers in futures research, like Hol brook Working, Roger Gray, Tom Hieronymus, Allen Paul, and Henry Bakenwere based on an in-depth understanding of economic institutions, an appreciation of the major problems facing the industry, and careful analysis of relevant data. Gray and Rutledge (1971) provide the most comprehensive survey on futures markets and the topics covered in their review include evolutionary aspects of futures markets, inter-temporal price relationships, and concept of hedging, price variability, and the stochastic nature of price fluctuations. The Keynesian theory of normal backwardation was one of the earliest theories of the int er-temporal futures prices and it postulated that futures prices are biased estimates of forthcoming cash prices because hedgers must compensate speculators for assuming the price risk of holding future contracts * Working (1949) developed the idea that the primary function of commodity futures markets was the provision of the returns for the storage services, and he viewed inter-temporal prices as the jointly determined price of storage. Holbroook Working (1953) categorized alternative motives for commercial hedging in the commodity futures and these categories continue to be valid today. The three arbitrage hedging, operational hedging and anticipatory hedging. Since the futures and cash price converge in the delivery month, a commercial firm can ‘arbitrage’ the two markets and earn a risk-free return from the predictable change in the basis- the mathematical difference between the futures and cash price.Operational hedging facilitates commercial business by allowing firms to buy and sell on the futures markets as temporary substitutes for the subsequent cash market transactions. This provides firms with an avenue for being flexible in day-to-day operations and reducing price risk. Anticipatory hedges involve buying or selling futures contracts by commercial firms in ‘anticipation’ of the forthcoming cash market transactions. Price expectation plays a major role in this type of hedge. * Leuthold and Tomek (1980) explained that semi-perishables (e. . , butter, eggs, onions, potatoes) were traded at the turn of the century but the introduction of trading in nonstorables such as live hogs and live cattle in the 1960s was a watershed for the industry. They argued that since future prices for nonstorables are not being used to allocate inventories, forward pricing is an important economic justification for these markets They pointed out that some of the farmers remain concerned about the alleged adverse influence of futures trading. Acco rding to theoretical literature, primary commodity producers stand to derive considerable price risk reduction benefit from hedging with either future contracts or forward contracts (Johnson 1960; Stein 1961; McKinson in 1967; Danthine 1978; Holthausen 1979; Feder, Just and Schmitz 1980; Andearson and Danthine 1983) * According to empirical literature either minimum variance hedge ratios or optimal hedge ratios (i. e. % of output to be hedged) and has found large potential risk reduction benefits from hedging (Henifner 1972; Peck 1975; Ederington 1979; Grant and Eaker 198559; Casteino 1992; Lene, Kimle, and Hayenga 1993) * But both theoretical and empirical literature appears to contradict reality because very few primary producers actually hedge (Helmuth 1977; Berk 1981; Brorsen 1995) * Survey results of Blank, Carter and McDonald 1997 found thatfarmers prefer forward contracting to direct hedging with future contracts.According to Miller (1986) the one key distinguishing feature b etween these two factors is the absence of basic risk in forward contracting. * Carter and Loyns (1985) found that due to a high basis risk, there was a little incentive for Canadian feedlots to hedge cattle on the Chicago futures market. * Rolfo in 1980 suggested production risk as an explanation for the lack of hedging interest in the real world. Most research needs to be directed towards the impact of government farm programs on commodity futures markets, along the lines of Crain and Lee (1996) * The theory of price of storage explains inverted markets by appealing to the concept of convenience yield. According to this theory, the futures price can be less than the spot price plus the cost of carry when the commodity generates convenience yield. CHAPTER -II INDUSTRY PROFILE 1) COMMODITY MARKET A commodity is a material that is traded in big quantities and whose quality standards and price are objective and universally applicable.For example, gold is a commodity because quality st andards and price of gold are objective and universal, but gold jewelry is not a commodity because the price of jewelry depends on subjective factors such as design, brand image, etc. Other examples of commodities are: agricultural produce such as food grains, pulses, cotton, etc. ; metals such as nickel, zinc, aluminum, etc. Commodity markets  are markets where raw or primary products are exchanged. These raw commodities are traded on regulated  commodities exchanges, in which they are bought and sold in standardized contracts.It covers physical product (food, metals, and electricity) markets but not the ways that services, including those of governments, nor investment, nor debt, can be seen as a commodity. Commodity Market is an organized trader’s exchange in which standardized, graded products are bought and sold. Worldwide, there are 50 major commodity exchanges that trade over 100 commodities, ranging from wheat and cotton to silver and oil. The trading of commoditi es consists of direct physical trading and derivatives trading. Exchange traded commodities have seen an upturn in the volume of trading since the start of the decade.This was largely a result of the growing attraction of commodities as an asset class and a proliferation of investment options which has made it easier to access this market. Commodity trading Spot trading Spot trading is any transaction where delivery either takes place immediately, or with a minimum lag between the trade and delivery due to technical constraints. Spot trading normally involves visual inspection of the commodity or a sample of the commodity, and is carried out in markets such as  wholesale markets.Commodity markets, on the other hand, require the existence of agreed standards so that trades can be made without visual inspection. Forward contracts A  forward contract  is an agreement between two parties to exchange at some fixed future date a given quantity of a commodity for a price defined toda y. The fixed price today is known as the  forward price. Futures contracts A  futures contract  has the same general features as a forward contract but is transacted through a futures exchange. Futures contracts — which set a price for the delivery of a particular commodity in, say, six months or a year — are not themselves to blame.They're the grease that makes these markets function. Futures allow businesses like power companies or airlines to hedge against increases in fuel costs, or food processors to smooth over fluctuations in the price of wheat and corn. Wall Street plays an invaluable role, too, since financial investors — those betting that prices will fall, as well as those betting they'll rise — provide crucial liquidity. Commodity and futures contracts are based on what’s termed forward contracts. Early on these forward contracts — agreements to buy now, pay and deliver later — were used as a way of getting products from producer to the consumer.These typically were only for food and agricultural products. Forward contracts have evolved and have been standardized into what we know today as futures contracts.. In essence, a futures contract is a standardized forward contract in which the buyer and the seller accept the terms in regards to product, grade, quantity and location and are only free to negotiate the price. Hedging Hedging, a common practice of farming cooperatives insures against a poor harvest by purchasing  futures contracts  in the same commodity.If the cooperative has significantly less of its product to sell due to weather or insects, it makes up for that loss with a profit on the markets, since the overall supply of the crop is short everywhere that suffered the same conditions. Delivery and condition guarantees In addition, delivery day, method of settlement and  delivery point  must all be specified. Typically, trading must end two (or more) business days prior to the delivery day, so that the routing of the shipment can be finalized via ship or rail, and payment can be settled when the contract arrives at any delivery point.Most trading is done in futures contracts, that is, agreements to deliver goods at a set time in the future for a price established at the time of the agreement. Futures trading allow both hedging to protect against serious losses in a declining market and speculation for gain in a rising market. For example, a seller may sign a contract agreeing to deliver grain in two months at a set price. If the grain market declines at the end of two months, the seller will still get the higher price quoted in the future contract.If the market rises, however, speculators buying grain stand to profit by paying the lower contract price for the grain and reselling it at the higher market price. Spot contracts, a less widely used form of trading, call for immediate delivery of a specified commodity and are often used to obtain the goods nece ssary to fulfill a futures contract. An independent U. S. regulatory agency, the Commodity Futures Trading Commission was established in 1974 to regulate commodity markets. In 1982, the Chicago Mercantile Exchange introduced a futures contract for Standard ; Poor’s 500 U.S. companies that allow investors to speculate on the future prices of the stocks. Trading of S;P 500 and other financial futures has broken down some of the barriers that once separated stock, bond, and commodity markets and made it easier for investors to hedge their stock investments. Critics charge that the futures trading at the commodity markets in Chicago have made stock prices more volatile. The Chicago Board of Trade is the largest futures and options exchange in the Unites States, the largest in the world is Eurex, an electronic European Exchange.GLOBAL COMMODITY MARKET It is the trading of materials used to make finished products, Is far more important that what the most people give it credit for. It’s what to gives millions consumers worldwide their cups of creamy lattes, their breakfast cereals, the steel for their home construction, and even the fuel to run their cars. In fact international commodity trading is a multi-billion dollar business, and on average the number of trade executed in the commodity exchanges are about five times as much as those on major stock exchanges.And to be honest in the recent past it has been anything but dull. In the past five years commodities have provided all the thrills and spills of a high octane Vin Diesel movie. The idea of trading in commodity future contracts is really very old –school, although it has occurred new age glitz because of electronic exchanges. Most experts trace their origins back to Japan, were rice futures were first traded in the 17th century. Future market for precious metals such as gold and silver has also been around since in the 19th century with maize contracts with the Chicago Board Of Trade (CBO T).Basically commodity futures allow buyers and sellers to make bets on the expected future spot prices. They help both sides obtain insurance for the future value of their outputs or inputs. Cereals were first to be traded under the future contracts and the farmers were the first to use such contracts as they protect them from any steep fall in the value of crop harvested in future. Commodity future differed from equity derivatives in three important ways; 1. They are derivative securities not claims on long living corporations. 2. They are short maturity claims on real assets 3. nlike financial assets, they experience distinct seasonal variations in price and volatility Today there are more than 50 commodity exchanges in the world wide trading in more than 100 products. The major products come under five categories; 1. Precious metals (gold, silver, platinum, etc. ) 2. Industrial metals (copper, nickel, aluminum, zinc, etc. ) 3. Agricultural commodities (wheat, corn, cotton, oilse eds, coffee, cocoa, sugar etc. ) 4. Livestock (pork bellies, cattle, etc. ) 5. Energy(crude oil, natural gas, petrol, diesel etc. ) Oil makes up the world’s largest commodity future market. Daily turnover on the New York Mercantile Exchange(NY mex) alone totals about $15 billion) followed by coffee, steel, gold and wheat. New contract ideas however keep popping up all the time. For instance, freight futures are also traded on the Norwegian futures and Options Clearing house and the Nymex. While the Chicago Mercantile exchnge9 now taken over by the CBOT) offers contracts on temperatures, useful for hedging agricultural commodity or energy prices. COMMODITY FUTURE TRADING EVOLUTION OF FUTURE TRADING AND ITS PRESENT STATUS Organized future market evolved in India by the setting up of â€Å"Bombay Cotton Trade Association Ltd. in 1875. In 1893, following widespread discontent amongst leading cotton mill owners and merchants over the functioning of the Bombay Cotton Trade Associa tion, a separate association by the name â€Å"Bombay COTTON Exchange Ltd. † was constituted. Futures trading in oilseeds were organized in India for the first time with the setting up of Gujarati VyapariMandali in 1900, which carried on futures trading in groundnut, castor seed and cotton. Before the Second World War broke out in 1939 several futures markets in oilseeds were functioning in Gujarat and Punjab.Future trading in Raw Jute and Jute Goods began in Kolkata with the establishment of the Calcutta Hessian Exchange Ltd. , in 1919. Later East Indian Jute Association Ltd. was set up in 1927 for organizing futures trading in Raw Jute. These two association amalgamated in195 to form the present East India Jute ; Hessian Ltd. , to conduct organized trading in both Raw Jute and Jute goods. In case of wheat, future markets were in existence at several centers at Punjab and U. P. The most notable amongst them was Chamber of Commerce at Hapur, which was established in1913.Other markets were located at Amritsar, Moga, Ludhiana, Jalandhar, Fazilka, Dhuri, Barnala and Bhatinda in Punjab and Muzaffarnagar, Chansausi, Meerut, Saharanpur, Hathras, Ghazibad, Sikenderabad and Barielly in U. P. Futures market in Bullion began at Mumbai in 1920 and later similar markets came up at Rajkot, Jaipur, Jamnagar, Kanpur, Delhi and Calcutta. In due course several other exchanges were also created in the country to trade in such diverse commodities as pepper, turmeric, potato, sugar and Gur (jaggory). After independence, the Constitution of India brought the subject of â€Å"Stock Exchanges and Futures† in the Union list.As a result, the responsibility for regulation of commodity futures markets developed on Govt. of India. A bill on forward contracts was reffered t an expert committee headed by Prof. A. D. Shroff select committees of two successive Parliaments and finally in December 1952 Forward Contracts (Regulation) Act, 1952, was enacted. The Act provided for 3- tier regulatory system; (a) An association recognized by the Government of India on the recommendation of Forward markets Commission (b) The Forward Markets Commission (it was set up in September 1953) (c) The Central Government.Forward Contracts (Regulation) Rules were notified by the Central Government in July, 1954. The Act divides the commodities into 3 categories with reference to extent of regulation, viz: (a) The commodities in which futures trading can be organized under the auspices of recognized association. (b) The Commodities in which the future trading is prohibited. (c) Those commodities in which have neither being traded under the recognized association nor prohibited are referred as free Commodities and the association organized in such free commodities is required to obtain the certificate of Registration from the forward Markets Commission.In the seventies, most of the registered associations became inactive, as futures as well as forward trading in the commodities for which they were registered came to be either suspended or prohibited altogether. The Khursho Committee(June 1980) had recommended reintroduction of futures trading in most of the major commodities, including cotton, Kapas, raw jute and jute goods and suggested that steps may be taken for introducing futures trading in commodities, like potatoes, onions, etc. at appropriate time.The government, accordingly initiated futures trading in Potato during the latter half of 1980 in quite a few markets in Punjab and Uttar Pradesh. After the introduction of economic reforms since June 1991 and the consequent gradual trade and industry liberalization in both the domestic and external sectors, the Govt. of India appointed in June 1993 one more committee on Forward Markets under Chairmanship of Prof. K. N. Kabra. The Committee submitted its report in September 1994. THE MAJORITY REPORT OF THE Committee ecommended that futures trading be introduced in 1) Basmati Rice 2) Cotton ; Kapas 3) Raw Jute ; Jute Goods 4) Groundnut, rapeseed/mustard seed, cottonseed, sesame seed, sunflower seed, safflower seed, copra and soya bean, ; oils and oilcakes of all of them. 5) Rice brain oil 6) Castor oil ; its oilcake 7) Linseed 8) Silver ; 9) Onions. The committee also recommended that some of the existing commodity exchanges particularly the ones in pepper and castor seed, may be upgraded to the level of international future markets.The liberalized policy being followed by the Government of India and the gradual withdrawal of the procurement and distribution channel necessitated setting in place a market mechanism to perform the economic functions of price discovery and risk management. The National Agriculture Policy announced in July 2000 and announcements of Hon’ble Finance Minister in the Budget Speech for 2002-2003 were indicative of Governments resolve to put in place a mechanism of futures trade/market. As a follow up the Government issued notifications on 1. 4. 003 pe rmitting futures trading in the commodities, with the issue of these notifications futures trading is not prohibited in any commodity. Options trading in commodity are, however presently prohibited. ECONOMIC BENEFIT OF FUTURE TRADING ; ITS PROSPECTUS Futures contracts perform two important functions of price discovery and price risk management with reference to the given commodity. It is useful to all segments of economy. It is useful to producer because he can get an idea of the price likely to prevail at a future point of time and therefore can decide between various competing commodities, the best that suits him.It enables the consumer get an idea of the price at which commodity would be available at a future point of time. He can do proper costing and cover his purchases by making forward contracts. The futures trading is very useful to the exporters as it provides an advance information of the price likely to prevail and thereby help the exporter in quoting a realistic price an d thereby secure export contract in a competitive market. Having entered into an export contract, it enables him to hedge his risk by operating in futures market.Other benefits of futures are: (i) Price stabilization-in times of violent price fluctuations – this mechanism dampens the peaks and lifts up the valleys i. e. the amplitude of price variation is reduced. (ii) Leads to integrated price structure throughout the country. (iii) Facilitates lengthy and complex, production and manufacturing activities. (iv) Helps balance in supply and demand position throughout the year. (v) Encourages competitions and acts as a price barometer to farmers and other trade functionaries.Futures trading are also capable of being misused by unscrupulous speculators. In order to safeguard against uncontrolled speculation certain regulatory measures are introduced from time to time. They are: (a) Limit an open position of an individual operator to prevent over trading. (b) Limit on price fluctu ation (daily/weekly) to prevent abrupt upswing or downswing in prices (c) Special margin deposits to be collected on outstanding purchases or sales to curb excessive speculative activity through financial restraints. d) Minimum/maximum prices to be prescribed to prevent future prices from falling below the levels that are un remunerative and from rising above the levels not warranted by genuine supply and demand factors. During shortages, extreme like skipping trading in certain delivers of contract, closing the markets for a specified period and even closing out the contract to overcome emergency situations are taken. PROSPECTS With the gradual withdrawal of the government from various sectors in the ost liberalization era, the need has been felt that various operators in the commodities market be provided with a mechanism to hedge and transfer their risks. India’s obligation under WTO to open agriculture sector to world trade would require futures trade in a wide variety of primary commodities and their products to enable diverse market functionaries to cope with the price volatility prevailing in the worlds market. CHARECTERISTICS OF FUTURE TRADING A â€Å"Futures Contract† is a highly standardized contract with certain distinct features.Some of the important features are as under: (a) Futures trading are necessarily organized under the auspices of a market association s that such trading is confirmed to or conducted through members of the association in accordance with the procedure laid down in the Rules ; byelaws of the association. (b) It is invariably entered into for a standard variety known as â€Å"basis variety† with the permission to deliver other identified varieties known as â€Å"tender able varieties†. (c) The units of price quotation and trading are fixed in these contracts, parties to the contracts not being capable of altering these units. d) The delivery periods are specified. (e) The seller in a futures market has the choice to decide whether to deliver goods against outstanding sale contracts. In case he decides to deliver goods, he can do so not only at the location of the Association through which trading is organized but also at a number of other pre-specified delivery centers. (f) In futures market actual delivery of goods takes place only in a very few cases. Transactions are mostly squared up before the due date of the contract and contract and contracts are settled by payment of differences without any physical delivery of goods taking place.RECENT TRENDS IN COMMODITY TRADING Nature’s Commodity Outputs Commodity thinking is undergoing a more direct revival thanks to the theorists of â€Å"natural capital whose products, some economists argue, are the only genuine commodities- air, water and calories we consume being mostly interchangeable when they are free of pollution or disease. Whether we wish t think of these things as tradable commodities rather than birthrights has been a major source of controversy in many nations.Most types of environmental economics consider the shift to measuring them inevitable arguing that reframing political economy to consider the flow of these basic commodities first and foremost, helps avoids use of any military fiat except to protect â€Å"natural capital† itself, and basing credit-worthiness more strictly on commitment to preserving biodiversity aligns the long-term interests of eco regions societies, and individuals. They seek relatively conservative sustainable development schemes that would be amiable to measuring well-being over long periods of tie, typically â€Å"seven generations†, in line with Native American thought.Weather trading However, this is not the only way in which commodity thinking interacts with ecologists’ thinking. Hedging began as a way to escape the consequences of damage done by natural conditions. It has matured not only into a system of interlocking guarantees, but a lso into a system of indirectly trading on the actual damage done by weather, using weather derivatives for a rice, this relieves the purchaser of concerns such as whether a freeze will hurt the Brazilian coffee crop, whether there will be a drought in the U. S. orn belt and what the chances that we will have a cold winter are, driving natural gas prices higher and creating havoc in Florida orange areas. Emissions Trading Weather trading is just one example of â€Å"negative commodities†, units of which represent harm rather than good. â€Å"Economy is three fifths of ecology argues Mike Nickerson one of many economic theorists who hold that nature’s productive services and waste disposal services are poorly accounted for. One way to fairly allocate the waste disposal capacity of nature is â€Å"cap and trade†- market structure that is used to trade toxic emissions rights in the United States, e. . SO2. This is in effect a â€Å"negative commodity†, a ri ght to throw something away. In this market, the atmosphere’s capacity to absorb certain amounts of pollutants is measured, divided into units, and traded amongst various market players. Those who emit more SO2 must pay those who emit less. Critics of such schemes argue that unauthorized or unregulated emissions still happen, and that â€Å"grandfathering† schemes often permit major polluters, such as the state governments’ own agencies, or poorer countries, to expand emissions and take jobs, while the SO2 output still floats over the border and causes death.In practice, political pressure has overcome most such concerns and it is questionable whether this is a capacity that depends on U. S. clout: The Kyoto Protocol established a similar market in global greenhouse gas emissions without U. S. support. Community as a commodity This highlights one of the major issues with global markets of either the positive or negative kind. A community must somehow believe tha t the commodity instrument is real, enforceable, and well worth paying for. Avery substantial part of the anti-globalization movement opposes the Commodification of currency, national sovereignty, and traditional cultures.The capacity to repay debt, as in the current global credit money regime anchored by the Bank for international settlements, does not in their view correspond to measureable benefits to human wellbeing worldwide. They seek a fairer way for societies to compete in the global markets that will not require conversion of natural capital to natural resources nor human capital to move to developed nations in order to find work. Some economic systems green economists would replace â€Å"gold standard† with a â€Å"biodiversity standard†. It remains to be seen if such plans have any merit other than as olitical ways to draw attention to the way capitalism itself interacts with life. Human life as a commodity The green economists and the more conservative envi ronmental economics argue that not only natural ecologies, but also the life of the individual human being is treated as a commodity by the global markets. A good example is the IPCC calculations cited by the Global Commons Institute as placing a value on a human life in the developed world â€Å"15x higher† than in the developing world, based solely on the ability to pay to prevent climate changes. Overview of commodities exchange in IndiaForward Markets Commission (FMC) headquartered at Mumbai, is a regulatory authority which is overseen by the Ministry of Consumer Affairs, Food and Public Distribution, Govt. of India. It is a statutory body set up in 1953 under the Forward Contracts (Regulation) Act, 1952. â€Å"The Act provides that the Commission shall consist of not less than two but not exceeding four members appointed by the Central Government out of them being nominated by the Central Government to be thereof. Currently Commission comprises three members among whom Shri. B. C. Khatua, IAS, IS THE Chairman and Shri.D. S. Kolamkar IES, and Shri Rajeev Kumar Agarwal, IRS, are the members of the commission. † The functions of Forward Markets Commission are as follows: (a) To advise the Central Government in respect of the recognition or the withdrawal of recognition from any association or in respect of any other matter arising out of the administration of the Forward Contracts(Regulation) Act 1952. (b) To keep forward markets under observation and to take such action in relation to them, as it may consider necessary, in exercise of the powers assigned to it by or under the Act. c) To collect and whenever the Commission thinks it necessary, to publish information regarding the trading conditions in respect of goods to which any of the provisions of the act is made applicable, including information regarding supply, demand and prices, and to submit to the Central Government, periodical reports on the working of forward markets relating to suc h goods. (d) To make recommendations generally with a view to improving the organization and working of forward markets. (e) To understand the inspection of the accounts and other documents of any recognized association or any member of such association whenever it considers.List of Commodity Exchanges in India 1. Batinda Om ; Oil Exchange Ltd. , Batinda. 2. The Bombay Commodity Exchange Ltd. , Mumbai 3. The Rajkot Seeds oil ; Bullion Merchants` Association Ltd 4. The Kanpur Commodity Exchange Ltd. , Kanpur 5. The Meerut Agro Commodities Exchange Co. Ltd. , Meerut 6. The Spices and Oilseeds Exchange Ltd. 7. Ahmedabad Commodity Exchange Ltd. 8. Vijay Beopar Chamber Ltd. , Muzaffarnagar 9. India Pepper ; Spice Trade Association, Kochi 10. Rajdhani Oils and Oilseeds Exchange Ltd. , Delhi 11. National Board of Trade, Indore 12. The Chamber Of Commerce, Hapur 13. The East India Cotton Association, Mumbai 4. The Central India Commercial Exchange Ltd. , Gwalior 15. The East India Jute ; He ssian Exchange Ltd. 16. First Commodity Exchange of India Ltd, Kochi 17. Bikaner Commodity Exchange Ltd. , Bikaner 18. The Coffee Futures Exchange India Ltd, Bangalore 19. Esugarindia Limited 20. National Multi Commodity Exchange of India Limited 21. Surendranagar Cotton oil ; Oilseeds Association Ltd 22. Multi Commodity Exchange of India Ltd 23. National Commodity ; Derivatives Exchange Ltd 24. Haryana Commodities Ltd. , Hissar 25. e-Commodities Ltd Of these 25 commodities exchanges the MCX, NCDEX and NMCEIL are the major Commodity Exchanges.Multi  commodity exchange  of India Ltd – MCX is an independent and de-mutualised exchange based in Mumbai. Established on 10 November, 2003, it is the third largest bullion exchange and fourth largest energy exchange in the world. Recognized by the Government of India it deals in numerous commodities and carries out online trading, clearing and settlement processes for commodities future market  countrywide. MCX COMDEX is India's foremost and sole composite commodity futures price index National Commodity & Derivatives Exchange of India Ltd (NCDEX) located in Mumbai, is a public limited company incorporated on 23rd April 2003.Promoted by national level establishments it is run by professional management. Regulated by the Forward Market Commission with reference to futures trading in commodities, it trades in various commodities online. The NCDEX is covered by: * Companies Act * Stamp Act * Contracts  Act * Forward Commission (Regulation) Act National Multi-Commodity Exchange of India Limited (NMCEIL) is considered the first de-mutualized, online exchange dealing in numerous commodities. Incorporated on 20th December 2001, it is promoted and run by: * Central Warehousing Corporation National Agricultural Cooperative Marketing Federation of India Limited * Gujarat Agro Industries Corporation Limited * National Institute of Agricultural Marketing * Gujarat State Agricultural Marketing Board * Neptune Overseas Limited The Commodity Exchanges with their extensive reach embrace new participants, resulting in a powerful price discovery process. COMPANY PROFILE Evolution of the company It all started in the year 1987 when Mr. C. J. George and Mr. Ranajit Kanjilal founded Geojit as a partnership firm. In 1993, Mr. Ranajit Kanjilal from the firm and Geojit became the proprietary concern of Mr.C. J. George. In 1994, it became a Public Limited Company named Geojit Securities Ltd. The Kerala State Industrial Development Corporation Ltd. (KSIDC) in 1995, became a co-promoter of Geojit by acquiring a 24 percent stake in the company, the only instance in India of a government entity participating in the equity of a stock broking company. The year 1995 also saw Geojit being listed on the leading regional stock exchanges. Geojit listed at the stock exchange, Mumbai (BSE) in the year 2000. Company’s wholly owned subsidiary, Geojit Commodities Ltd. launched Online Future Trading in Agri -commodit ies, precious metals and energy futures on multiple commodity exchanges in 2003. This was also the year when the company was renamed Geojit Financial Service Ltd. (GFSL). The Board consists of professional directors; including a Kerala Government nominee. With effect from July 2005, the Company is also listed at National Stock Exchange (NSE). Company is a character member of the Financial Planning Standards Board of India and is one of the largest Depository Participant (DP) brokers in the country.On 31st December 2007, the company closed its commodities business and surrendered its membership in the various commodity exchanges held by Geojit Commodities Ltd. Global banking major BNP Paribas took a stake in the year 2007 to become the single largest shareholder. Consequently, Geojit Financial Services Ltd. has been renamed as Geojit BNP Paribas Financial Services Ltd. VISION The vision of Geojit is to be leading financial and commodities market intermediary for individuals and insti tutional clients from India band overseas.They continually strive to raise their products and service standards by intelligent application of technology and processes. MANAGEMENT OF GEOJIT COMTRADE Geojit COMtrade offers trading services in Commodities Futures. It is managed by a group of professionals having considerable years of experience and expertise in Commodities, ever since the reintroduction of Commodities Futures in India in 2003. Geojit COMtrade offers its client state-of-art trading tools such as:    * | * Technical and fundamental analysis at this website and also through the company's large branch network | * | * Research Reports | | * SMS alerts on market movement | * | * Content rich website | * | * Online trading | * | * Facility to view online ledger, holdings, positions, etc. | Geojit COMtrade also conducts seminars, distributes free in-house literature and holds interactive sessions that help raise awareness on the future market. The number of participants is c ontinuously on the rise thus leading to increased volumes and market efficiency. Geojit COMtrade is a member of the following Exchanges: * National Multi Commodity Exchange of India Limited (NMCE) | | * National Commodity ; Derivatives Exchange Limited (NCDEX) | | * Multi Commodity Exchange of India Limited (MCX) | | * National Spot Exchange of India Ltd (NSE) | Geojit COMtrade offers futures trading through multiple exchanges in varied commodities such as: Agricultural Commodities: | * Plantation Crops like Rubber, Coffee, Arecanut, etc. | | * Spices like Pepper, Cardamom, Turmeric, Jeera, Chilly, etc. | | * Pulses like Chana | | * Oil ; Oil Seeds like Refined Soya oil, Soya bean, Cotton seed, Mustard Seed, Mustard oil, etc. | * Cereals like Maize | | * Other commodities like Guar gum, Guar seed, Menthaoil, Potato, Sugar, etc. | | * Commodity Spot products like E Gold, E Silver, E Copper, E Lead, and E Zinc. | Precious metals: | * Gold, Silver, and Platinum | Metals: | * Copper, Le ad, Aluminum, Steel, Tin, Nickel, Zinc, etc. | Energy products: | * Crude oil, Natural Gas, Carbon Credits, etc. MILESTONES | | | Product innovation backed by a high level of domain specific knowledge and state-of-the-art technology has helped Geojit to set many milestones including numerous industries. 986 * Membership in Cochin Stock Exchange (CSE). 1994   * Becomes a Public Limited Company named Geojit Securities Ltd. 1995   * Kerala State Industrial Development Corporation Ltd. (KSIDC) acquires 24 percent equity stake. * Membership in National Stock Exchange (NSE). * Public Issue  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  1996 * Launch of Portfolio Management Services with SEBI registration. 1997   * Depository Participant (DP) under National Securities Depository Limited. 1999   * Membership in Bombay Stock Exchange (BSE). 2000 * BSE Listing. * 1st broking firm in India to offer online trading facility. * Commences Derivative Trading with NSE. Integrates the 1st Bank Payment Gateway in the country for Internet Trading. 2001 * Becomes India's first DP to launch depository transactions through Internet. * Establishes Joint Venture in the UAE to serve NRI customers. 2002 * 1st in India to launch an integrated internet trading system for Cash & Derivatives segments. 2003 * Geojit Commodities Limited, wholly owned subsidiary, launched Online Futures Trading in agri-commodities, precious metals and in energy futures on multiple commodity exchanges. * National launch of online futures trading in Rubber, Pepper, Gold, Wheat and Rice. Company renamed as Geojit Financial Services Ltd. 2004 * National launch of online futures trading in Cardamom. 2005 * NSE Listing. * Geojit Credits, a subsidiary, registers with RBI as a Non-Banking Financial Company (NBFC). * National launch of online futures trading in Coffee. 2006 * Charter member of the Financial Planning Standards Board of India. 2007 * BNP Paribas takes a stake in the company’s equity, making it the single larg est shareholder. * Establishes Joint Venture in Saudi Arabia to serve the Saudi national and the NRI. 2008 * BNP Paribas Securities India (P) Ltd. – a Joint Venture with BNP Paribas S. A. or Institutional Brokerage. * 1st brokerage to offer full Direct Market Access execution in India for institutional clients. 2009 * Launch of Property Services division. * Launch of online trading in Currency Derivatives. * Consequent to BNP Paribas becoming the largest stakeholder in Geojit BNP Paribas, company is renamed as Geojit BNP Paribas Financial Services Ltd. 2010 * Launch of  FLIP (Financial Investment Platform), a new advanced online investment platform. * Launch of state of the art Mobile Trading platform to empower clients to trade from anywhere, even while on the move through the innovative application FLIP- ME. | | | | | Board of DirectorsMr. A. P. Kurian  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive & Independent ChairmanMr. C. J. George   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Managing Director & Chief PromoterMr. Alkeshkumar Sharma  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive & Independent DirectorMr. Olivier Le Grand  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorMr. Pierre Rousseau  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorMr. Mahesh Vyas   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive & Independent DirectorMr. RakeshJhunjhunwala   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorMr.Ramanathan Bupathy   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive & Independent DirectorMr. Pun noose George   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Non – Executive DirectorA growing footprintWith a presence in almost all the major states of India, the network of 558 offices across 300 cities and towns presently covers Andhra Pradesh, Bihar, Chattisgarh, Goa, Gujarat, Haryana, Jammu & Kashmir, Karnataka, Kerala, Madhya Pradesh, Maharashtra, New Delhi, Orissa, Punjab, Rajasthan, Tamil Nadu & Pondicherry, Uttar Pradesh, Uttaranchal and West Bengal.GEOJITCOMMODITIES * Number 1 Broking house status in terms of Trading Terminals : Dun & Bradstreet Survey 2008 * The first brokerage to offer online trading in Rubber (Mar 2003), Pepper (Apr2003), Gold (Oct2003), Wheat and Rice (Dec2003), Cardamom (Apr 2004) and Coffee (Feb2006) * Brand image of Industry Pioneer since inception of commodity futures in 2003| Its clientele range from investors, co-operative societies, state and national institutions to dealers, traders, manufacturers, financiers, speculators, arbitragers, etc.Geojit COMtrade does not have proprietary interest in any commodity and therefore is price neutral. Transaction costs are highly affordable attracting a spectrum of investors. Membership in multiple exchanges gives clients the added advantage of arbitrage. Geojit has specialized staff that provide the required guidance, help and enable clients to enter at the appropriate price. Geojit COMtrade: Increasing investor awareness/education * Daily, weekly and special reports on various commodities & currencies covering both international as well as domestic markets. Seminars and workshops designed to help both the new clients as well as experienced traders. * Increased media spending to make ourselves more visible in print, visual as well as digital media, so that our reports and views reach better to our investo rs. * Offers SMS / email reports at no additional cost. GEOJIT ANTHEM DRIVEN BY TRUST â€Å"With trust, our driving force Transparent in daily chores, Passionate, compassionate, We keep Geojit on course Respectful of our call We care for our patrons’ all. Grateful for our growth before We seek blessings to grow tall. Shanti ho barabaar shanti ho Sayyam, Samridhi, Swaasthya ho,Geojit Jahaan ho! Expanding far and wide, And serving the world with pride, Loyalty inspiring us To be beyond the high tide; A brighter word to make Unfurling the flag we take; â€Å"All for one and one for all,† With love to last above all. DEPARTMENTAL STUDY Administration * Provides support and service for the activities of the board of directors * Coordination of branch activities and provision of interaction between branches and the main office * Expanding the reorganization of Bank market network. * To create appropriate condition for efficient operation of structural franchisees Human reso urceHuman Resources and Administration department is one, which facilitates smooth working of the organization by looking into the human resource side and also the overall administration of organization. The Human Resource Management is very important for the success of any organization. Different individual exhibit similar and dissimilar pattern of behavior. They have their own set of needs, drives, goals and experiences. Management should be aware of their requirements. Manpower management is the most critical job. Proper human resources management will enhance the efficiency and performance of people at work.HR MISSION * To create HR policies and processes which are employee friendly * To build a culture of warm forthcoming and professional with a sense of ownership and pride. * To encourage innovative thinking. * To encourage transparency and team work. * To develop leaders at all levels with general management skills. * To create a learning organization. * To develop competenci es and skills through training and development. * To constantly raise levels of employee productivity. * To work towards attaining and sustaining the best employer status Other functions ofHuman Resource Department RecruitmentRecruitment means generating a pool of qualified employees for job. Announcing job opportunities to public in such a way that number of suitable people will apply for them. Recruitment process is done only at the initial stage. Mainly qualified people are selected for work. Selection Selection means choosing right profile from that number, those applicants whom are most likely to succeed in the job. After getting the list of candidates an interview is conducted at the unit level. Final selection is made after testing their skill and technical abilities by putting them on the job. Training and developmentTraining and development is also done in Geojit. After recruitment and selection the new hands are given on the job training at the unit level. All workers are kept as trainers for three months to one year. Later they are absorbed as permanent workers considering their performance. Promotion Promotion is the transfer of an employee to a new position which comments high pay, privilege status both at work and the community outside and fringe benefits perhaps the greater job security. And more senior position from which a person render better service to his company. His duties, responsibilities, status and pay also increase.Company gives keen attention with regard to promotion. Wage structure Wage structure is different for different position Allowances Second most important component of wage package is dearness allowance, which is paid to offset the rise in prices. Allowances like conveyance, house rent etc. Employees provident fund Company follows contributory provident fund. The workers contribute some percentage of their wage (basic pay + DA) and the management contributes at an equal rate. Labor welfare fund There is a labor welfare fund in which the employee contributes some rupee per head and the employer contributes at double to the same.The fund enables the subscriber to get children treatment of self and dependents etc†¦ Thus all employees are covered social security schemes of government, enabling education of children of workers etc. Gratuity Employees are eligible for the gratuity based on payment of Gratuity Act, 1972 Welfare to workers Rest room A rest mean is covered provided to employees to relax at concerned time. Facilities of relaxing The company also provides siting facilities for workers when they are getting interval or lunch. Health One of the important thing is that the employees general health both physical and mental should be cared.The factors which influence the general health of the worker can be divided into two broad groups. 1) Those which are associated with his working environment 2) Those which he shares with the rest of the community Cleanliness The company is kept clean and free from effluvia. Accumulation of dust removed by proper drainage facility made in the chemical treatment. Walls, doors and windows shall be repainted or varnished at least once in three years Disposal of waste and effluence Effective arrangement shall be made for the disposal of waste. It does not harm any local people in any way. Ventilation and temperatureEffective arrangements shall be made for ventilation and temperature so as to provide comfort to the workers and prevent injury to their health. Adequate ventilation is made for fresh air. Air condition is provided for every room. Dust and fires Effective management shall be taken preview the inhalation and accumulation of dust and fires or other impurities in parities at workplace. Lighting The state government may prescribe standards of proper artificial nature lighting facilities are included. Drinking water There shall be effective arrangements for some drinking water for worker at convenient points.FINANCE AND ACCOUNTS Financ e is the lifeblood of any organization. It deals with both the acquisition as well as ‘allocation of funds. Hence finance department assumes a great role in this organization. A finance department in an organization is responsible for maintaining fair and just accounting, working capital management, long term funding decision making, costing etc. The finance department provides authorization and control to all other subsystems to utilize money more effectively through a well-designed mechanism the major functions of a finance department can be grouped as follows:- )Preparation of financial statement 2) Providing sufficient funds to all departments. 3) Cash flows within the firm 4) Cash forecasting and budgeting 5) Analysis of transactions conducted by each branch office 6) Pay in and Pay out DUTIES AND RESPONSIBILITIES Chief financial officer is the head of the finance department the entire financial operationsare controlled and coordinated by C. F. O. The entire reports are s ubmitted before him and it is his duty to take appropriate steps. He is assisted by Chief Manager Finance. The general accounts of the company are managed by the Chief Manager.Preparation of reports and statements also conies under his duty, matters concerning pay in and pay out are also determined and analyzed by Chief Finance Manager. The Chief Manager is assisted by Manager Finance. Below him there are two assistant managers, four executives and three junior executives. It is the duty of these people to record and analyze the normal accounts and transactions of a day and to report it to Chief Manager Finance. HIERARCHY OF AUTHORITY CHIEF FINANCIAL OFFICER CHIEF MARKETING OFFICER (fig-1)Department structural hierarchy JUNIOR EXECUTIVE EXECUTIVE ASSISTANT MANAGERMANAGING OFFICER The departmentis concerned with the provisions and use of accounting information to managers within organizations, to provide them with the basis to make informed business decisions that will allow them to be better  equipped in their management and control functions. The accounting department jointly performs the financial function of Geojit Functions of accounting department include preparing, checking and accounting the following vouchers and  bills. ? Cash receipt and cash payment. ?Bank receipt and bank payment. ? Purchase journal. Journal voucher. ?Preparing debit/credit notes. Updating vouchers in computer system. ?Preparation of reconciliation statement such as bank, party accounts etc. ?Maintain and safe custody of vouchers, records, ledgers and registers. ?Review of the general  ledger and sub ledger and reconciliation. ?Ensure safety custody of cash and  unused cheque. ?Maintain the fixed asset register and ensure proper filling of the bills of purchase, installation certificate etc. for the tax purpose. ?Ensure compliance of the various commitments for the borrowings and adherence of the schedule for the repayment of the interest and the principal.OPERATIONS DEPART MENT The past few decades have given-emphasis to operations functions mainly because it is the important subsystem of an organization and is responsible for customer satisfaction. As this department deals directly with customer satisfaction the company requires careful policies and procedures to carry out the activities under the operations department so that the services provided by them must be of a specific quality. The operations department of Geojit is again subdivided into five according to the services they deal with. They are 1) Risk management ; clearing and settlement ) Compliance 3) Commodity 4) Branch operations 5) Depository A study of each of these subdivisions is made their hierarchy, function of each official and the findings are noted in the coming pages. RISK MANAGEMENT ; CLEARING AND SETTLEMENT This is one of the subdivisions of the operations department. As stated earlier the operations departments are subdivided according to the functions they perform. Hence it is this subdivision of operations department which deals with the function of management of funds that arise from trading.Though buying and selling of shares take place daily in stock exchanges, settlements of transactions is executed for a specified no: of days after clubbing daily transactions for the entire period. This is known as settlements cycle. For example the beginning of a new settlement is on Wednesday of every week in N. S. E and it ends on next Tuesday. So it is the duty of this subdivision of the operations department to keep the recordsregarding transactions of each customer analyze whether he had made all the transactions in a proper way or not.It is the duty-of this department to check whether a person has paid the amount completely, if he had bought any shares and also to check whether the person is paid completely if he had sold the shares through Geojit. The chief manager (Risk and settlement) stands up in the hierarchy of the department and hence he is the head of the department. He controls and coordinates all the functions of this subdivision. Risk management of funds (of company and its branches) is one of the major functions. The chief manager is assisted by the senior manager (clearing and settlement).The senior manager (clearing and settlement) deals with the process of buying andselling of shares and thereby maintaining proper funds. There is an Asst. Manager under himwho checks the B. S. E operations. The Asst. Manager is assisted by three ‘senior executives' further there are executives junior executives and office assistants to help the topmanagement. A diagrammatic representation of the hierarchy of this departmental subdivision is given on next page. MANAGEMENT ; CLEARNING ; SETTLEMENT CHIEF MANAGER (RISK) SENIOR MANAGER (CLEARING ; SETTLE

An Analyses of When the Saints Go Marching in

An Analysis of When the Saints Go Marching In The origins of When the Saints have never been fully explained in modern times. It was originally written as a Negro Spiritual hymn sometime near the beginning of the twentieth century. On written music, composers usually notate it as a traditional piece, but the identity of the original author remains up for debate.Some sources claim that the original lyrics of When the Saints were penned by Katherine Verves and put to music by James Black in 1896, but many scholars today believe that Verves ND Blacks composition was a completely different piece of music due to it being titled When the Saints Are Marching In. Regardless, the original lyrics contain many spiritual references, particularly to heaven and the coming of Gods kingdom.In one of the verses, the author writes Oh when the trumpet sounds Its call, Oh when the trumpet sounds Its call, I want to be In that number, when the trumpet sounds Its call, which is a reference to a passage in the book of Revelations, located in the New Testament of the Christian Bible. The passage describes the sounding of seven trumpets by angels of heaven. Each trumpet brings about a specific catastrophic event upon the world below, which is filled with those who were not taken in to heaven at the onset of the worlds end. Other references to things such as The moon turns red with blood And . .. When the new world is revealed Are tied in with the end of days described in Revelations, which the author describes a desire to avoid by being in heaven. Though the original lyrics describe dark and unfortunate events, today When the Saints has a positive connotation attached to It. When It Is performed In modern times, It Is at a much faster tempo and the melody swings at an Infectiously catchy pace.This change started probably due to a trend that originated In New Orleans that consisted of inserting a verse that discussed how a former friend or relative had died, moved away, or was estranged from them and how they desired to see them again, often in the next life (I. E. Heaven). In one of the earliest know recordings of When the Saints, the blues artist Barbeques Bob sings L had a dear old mother, hes gone on to heaven I know, I promised the Lord Id meet her, when the Saints go marching in. The belief that a one will be able to reunite with all of their loved ones who have passed away before them, coupled with an image of heaven as eternal paradise for a soul instills hope in an Individual. Taking this into account may explain the prevalence of bands performing When the Saints in New Orleans funeral marches. It may be that in the culture of New Orleans a funeral Is not only a place for mourning the dead, but also a time to celebrate the deceases passing Into eternal paradise. Thus, When the Saints began a transformation from a solemn time. This transformation is quite staggering.When the song was first written, there was no recording technology that enabled its original form to be preserved. Barbeques Bob performed the earliest recording of When the Saints in the early twentieth century. His rendition is performed on acoustic guitar and has a very resigned tempo with the overall tone of the piece being one that fosters reflection. This style was probably representative of the standard way to play the piece at the time and most keel remained so until Louis Armstrong recorded his rendition of When the Saints in the format that most people recognize.Armstrong played When the Saints at a much faster tempo than Barbeques Bob and with a more upbeat and fun tone and with a full band featuring trombones, drums, a string bass, trumpet, clarinet, and several other instruments. Armstrongs rendition ushered in the more common rendition of When the Saints that emulates his fast tempo and upbeat tone. Armstrong also created a way of playing When the Saints that allowed for passages f improvisation, a mainstay in Jazz music.The strophic form of the verses and running bass allows for other instruments to take turns improvising before returning to the original melody. However, this also caused When the Saints to become a more secular piece as it lost its previously sacred themes and lyrics. In a duet between Louis Armstrong and Danny Okay, the lyrics previously talking about the end of days and Joining with others in heaven are replaced with a series of clever puns of the names of famous classical composers. This shows the shift of When the Saints room a sacred hymn intended to inspire to a song intended to entertain.Instead of being played in church sanctuaries, it mostly is performed at concerts by ensembles not affiliated with any particular church. In listening to different recordings of this timeless piece that I myself have performed a few times in my life, I was most surprised to learn that When the Saints was not always an upbeat Jazz piece. Hearing the evolution of this song through the various recordings was very interesting. I can say that I have a newfound interest in this piece that was not there before.

Social Class in the US Assignment Example | Topics and Well Written Essays - 500 words

Social Class in the US - Assignment Example However, as can be gleaned from the lessons and insights provided by the materials in Chapter 8, the belief that the US is the land of opportunity is all but a myth. For, while thousands of opportunities are available for everyone interested, factors like language, educational and cultural factors can severely impede immigrants’ success, including those with professional credentials which they earned from their own homelands. Sawhill, Isabel (2006) in a Policy Brief stated that while the US economy performed well, most of the benefits of such success were reaped by those at half top of the income distribution strata, especially those at the top one percent (or those with income of more than about $400,000 in 2006). Society, stressing that it takes at least five generations to totally free one from circumstances of birth or family background. Sawhill adds that as the gap widens among the income levels or groups, it has become harder for people to move up, as the topmost of the ladder becomes more and more solid and strong, accumulating more and more wealth. Immigrants, illegal or otherwise, represent cheap, reliable labor for the American businesses. The documented and legal immigrants mostly have no education or reached only high school level, which makes it harder for them to land on high-paying jobs. Even their children tend to not continue to go to school but instead engage in jobs to augment their families’ incomes. Education, they say, is the great leveler. However, the US does not provide equal access to quality education to its people. Majority of the immigrants’ kids go to public schools which are below par the other schools across the nation. Even the funding for Bilingual Education has been debated upon, most probably towards its abolition. It is therefore no wonder that recent trends had been that these immigrants are going back to their homes, primarily to seek better opportunities

Economic growth in indonesia Essay Example | Topics and Well Written Essays - 2000 words

Economic growth in indonesia - Essay Example Economic growth has long been the basic measure of policy effectiveness and success across countries. Recent global financial crises reduced considerably the pace and scope of economic developments in a number of regions. However, as the global crisis is moving to its end, the developing world faces better chances to improve their economic position. Indonesia is no exception: a vast and resource-intensive economy, Indonesia has everything needed to strengthen its position in the global economy. It should be noted, that the countries of the Asian and Pacific region are in a better economic position, compared with other countries of the world (The World Bank, 2011). Simultaneously, the risks of inflation remain increasingly high. Therefore, Indonesia must develop economic policies and implement instruments to slow down the acceleration of inflationary mechanisms, in ways that do not damage the country’s economic growth prospects. Indonesia is ranked the world’s fourth most populated country (U.S. Department of State, 2011). Located in the equatorial region of Asia, Indonesia occupies about 2 million sq.km, with approximately 240.3 million of people inhabiting it (U.S. Department of State, 2011). The prevailing majority of the country’s residents are Indonesian (U.S. Department of State, 2011). For many years, Indonesia was one of the biggest Dutch colonies; 300 years of the Dutch rule turned Indonesia into one of the richest and most profitable resource supplements (U.S. Department of State, 2011). It was not until 1945 that Indonesia was granted independence from Netherlands (U.S. Department of State, 2011). After the first democratic elections in 1999, Indonesia became one of the most populous democracies in the world (CIA, 2011). Despite recent developments, Indonesia is faced with a number of challenges, including poverty, poor quality education, terrorism and the risks of authoritarianism (CIA, 2011). The situation is further complicated by the

Egypt Essay Example | Topics and Well Written Essays - 1750 words

Egypt - Essay Example Its neighboring countries include Libya in the West, Israel and Gaza Strip in the East, and Sudan in the South. Egypt covers a total area of 1,001,449 km2 and is double the size of France in terms of area (â€Å"Geography of Egypt†, n.pag.). Egypt possesses a long coastline around the Mediterranean Sea, Gulf of Suez, Red Sea, and Gulf of Aqaba (â€Å"Geography of Egypt†, n.pag.). The country has twenty six provinces, also known as governorates, among which the most prominent ones include the city provinces of Alexandria, Cairo, Port Said, and Suez. Furthermore there are several other governorates in the Upper Region and Lower Region of Egypt. Egypt essentially ahs a large area covered by deserts. Due to the arid and desert-like climate, a very small percentage of the total area of the land is fit for agriculture thus only a small fraction of land is cultivable. Due to the naturally unique location of the Suez Canal which provides a very short route to the East, Egypt benefits from the short trade link it provides thereby incurring lower transportation costs. The main physical regions of Egypt are divided into four parts consisting of the Nile Valley and Delta, the Libyan Desert, the Eastern Desert, and the Sinai Peninsula (Fig. 2). River Nile is the longest river of the world and its Valley and Delta are perhaps the most important regions to the country surrounded by areas of arable land. River Nile is an important source for fish and the area surrounding the river provides sustenance for majority of the Egyptian population. Nile Valley occupies a region which is known as the Upper Egypt whereas the Nile Delta occupies a place which comes under Lower Egypt. These two regions are of significant importance for Egypt as they make the surrounding area fit for agriculture and farming. Fig. 1. Physical Map of Egypt. [Map] n.d. Free World Maps. Web. 11 Dec 2013. Without the presence of River Nile, the vast area of land in Egypt would have been dominated by the Sahara Desert. The Nile Valley and Nile Delta have been a result of the flow of River Nile in the region. River Nile has three man sources which originate from the Central African sources: White Nile, Blue Nile, and Atbara. White Nile, which emerges from Uganda, contributes about twenty eight percent of River Nile’s water. Blue Nile originates from Ethiopia and contributes the largest amount to River Nile’s waters which accounts for about fifty eight percent. And the Atbara River starts in Ethiopia and supplies about fourteen percent of River Nile’s waters. Thus, River Nile receives water from all these sources which contribute a significant percent of the water during high seasons. The high volume of water in River Nile deposit silt and other minerals as Nile spreads out into a delta. Today, River Nile only has two branches called Damietta and Rosetta. A number of irrigation canals connect from these branches so as to provide water for the irrigation and farming of arable lands. Thus the silt deposited by the river and the water provided is imp ortant for farming and agriculture in the area as it supports almost the entire population of Egypt. The Art Art, music, and culture evolved greatly in Egypt particularly after the fall of the former Egyptian President Hosni Mubarak. Egypt has also been a central place for the recording of Arabic music and Egyptian music derives greatly from Arabic music. In particular, the music reflects Arabic and Islamic influences. There are various genres of Egyptian music and they are

Writing Essay Example | Topics and Well Written Essays - 500 words - 4

Writing - Essay Example At the outset, the proliferation of homelessness in the target population, United Kingdom, solely propels the focus on the subject topic. Additionally, the urge to solve the existent situation after unsuccessful approaches there prior also aids in the evident spotlight on the problems facing homeless people in the United Kingdom. Following to most recent research, figures illustrate a 25% rise in the need for emergency accommodation in the United Kingdom within the past three years. This drastic rise in the need for housing directly reflects to heightened levels of homelessness, which subsequently leaves its victims suffering. Deriving from this, homelessness not only depicts a problem by itself but extensively acts as a starting point for more disparities most evident in the United Kingdom. These disparities range from, increased potential for diseases and infections, mental breakdowns, emotional as well as physical instabilities, spoilt relationships and drug addiction amongst others (Segal 1991). However, almost 70% of past attempts to curb or rather minimize the rates of homelessness in the United Kingdom have failed following to reasons such as basing solutions on insufficient research projects. In addition, improper implementation of enacted solutions backed by lack of resources such as financial resou rces act as limitations to consistent improvement in the mission of curbing homelessness in the United Kingdom (Pierson 2009). More precisely, this research puts more focus on minimizing and subsequently curbing homelessness in the United Kingdom since this automatically eliminates problems caused by homelessness (Fitzpatrick, Quilgars, & Pleace, 2009). With the intent of focusing the researches’ concentration on the problems facing homeless people in the United Kingdom and subsequently finding solutions to these disparities, the enlisted research questions aid in better

Week 5 posts 8000 Essay Example | Topics and Well Written Essays - 250 words

Week 5 posts 8000 - Essay Example Nursing is a very comprehensive field and considering they are paramedics, your master’s knowledge surpasses their levels of certification. On your second issue, you have elaborated on the high cost of nursing programs. You have compared several programs with those of similar if not lesser quality and the duration and cost that you might find unnecessary. My recommendation would be, keep your confidence on attainment of higher standards as it increases on your information on nursing. Thanks for your informative post on this week’s discussion topic. I agree that ethics assist in knowing what is wrong and what is right. In healthcare, since you are dealing with patients and their well-being integrity is an essential matter. According to Hamric, Spross, and Hanson, (2009) a nurse should learn to keep secrets, suffer and struggle. This is all to the goodwill of the patient. You have also added that ethical conflicts in the healthcare sector can arise from professional interactions, research, gender, pain, or even life issues. This is evident as the nurse’s advance in their careers. A solution to this problem you have added would be a nurse attaining a DNP. This equips them with skills to handle medical dilemma. However, you have said that they are also in a dilemma with pain management and end life crisis. You have given an example of a dialysis patient with a stroke and how the hospital went about it. The inclusion of the various professionals to explain to the family on steps to take, elaborate on ethics in the hospital. Also in the diabetic patient, it is well

Problem solving Assignment Example | Topics and Well Written Essays - 250 words

Problem solving - Assignment Example Therefore, the relevant binding authorities will lead to the dismissal of the case under the doctrine. The dormant commerce clause has it that the power the commerce clause gives to the Congress has negative implications that prohibit the state from passing any legislation discriminating against the interstate commerce (Miller and Gaylord 14). Therefore, in light of the dormant commerce clause definition, Puerto Rico law potentially violates the clause. The reason for this violation is that Puerto Rico law prohibits both the sale and distribution of cement manufacture outside not having the require label. Thus, Antilles Cement Corp has legal grounds suitable to win the complaint it filed against Puerto Rico because the clause is in full support of the interstate commerce. The case files against Puerto Rico if determined using the provisions of the clause will make Puerto Rico lose at the end of the legal

Love indicates peace in anti-war films Essay Example | Topics and Well Written Essays - 1250 words

Love indicates peace in anti-war films - Essay Example tuation during the American war that had tore the country down the middle into the confederates and the union patriots, the â€Å"the grand illusion† (1937) depicts the situation of the First World War, where the French and the German are enemies in the war (Nugent, 1938). Nevertheless, while there is antagonism in the two films, love remains the only bond that reunites the different factions into one core interest groups, through overcoming the ethnic and the territorial boundary restrictions, to make such factions unite. The two films are characterized by war in the bulk of their scenes, and only in few scenes do we have the theme of love demonstrated. However, despite the scanty of love theme in these films, love eventually manages to overcome the dominant theme of war by the end of the films, and consequently the different warring factions in the two films end up as one society that is united by friendship and love. Therefore, love is a tool that has been applied to indica te peace in the two anti-war films. The film "the grand illusion† (1937) is characterized by the notable cordial relationship that is established between two French aviators namely de Boeldieu who is an aristocratic Captain and Lieutenant Marà ©chal, who is a member of the working-class (Nugent, 1938). The two aviators set on a journey to discover a certain photo spot from an earlier air reconnaissance mission, and in the process they are shot down by a German aviator, who is also an aristocrat (Roger, 1999). While the French and the Germans are warring parties and enemies, the fact that both von Rauffenstein and the Frenchman Captain de Boeldieu are aristocrats, melts down their enmity and differences, and they establish a strong friendship that sustains their relationship amidst numerous nationality and ethnic challenges. Therefore, the two characters eventually develop a connection that makes them sideline their own countrymen, for the sake of their friendship that is built on the basis of

Diminishing American Pride Essay Example for Free

Diminishing American Pride Essay The book Zeitoun basically talks about a Syrian American family’s experience in the time of Hurricane Katrina. It was mainly divided into two story lines, one of Abdulrahman Zeitoun, the main character, a Syrian American contractor; and one of Kathy, his wife, a white woman converted Muslim. Zeitoun had an extraordinary life, also an extraordinary experience in the time of Hurricane Katrina. He was a successful well-known businessman in local area. When everyone else was fleeing their hometown before Katrina came, Zeitoun chose to stay to protect his house and business. Later then when the city was flooded, he travelled around with his small canoe, delivering help and resources. However, he was wrong arrested as a looting suspect then and was sent into jail. He was treated as a terrorist and taken away the right of fair trial, forced to confine in a maximum security prison for a crime he didn’t commit. At the end, Zeitoun was released and able to unite with his family again, but he was not compensated in any ways for his misfortune. As this book describes, everything in the time of Hurricane Katrina had gone crazy, including the American criminal justice system. The main objection of this book is to criticize racism phenomenon in America and the rotten criminal justice system. Racism is a main subject in this book. It was first mentioned in this book in Kathy’s story line about her past life experience. â€Å"Years earlier, Kathy and her mother had gone to the DMV together to have Kathy’s license renewed. Kathy was wearing her hijab, and had already received a healthy number of suspicious looks from DMV customers and staff by the time she sat down to have her picture taken. The employee behind the camera did not disguise her contempt. ‘Take that thing off,’ the woman said. † (Zeitoun page 58) From the mentioning of these kinds of past experience seemed irrelevant to Hurricane Katrina, we can see the author’s desire to insert the topic of racism into this book. Kathy’s case shrinks small comparing to Zeitoun’s case in his arrest. â€Å"‘You guys are al Qaeda,’ the soldier said. Todd laughed derisively, but Zeitoun was startled. He could not have heard right. Zeitoun had long feared this day would come. Each of the few times he had been pulled over for a traffic violation, he knew the possibility existed that he would be harassed, misunderstood, suspected of shadowy dealing that might bloom in the imagination of any given police officer. After 9/11, he and Kathy knew that many imaginations had run amok, that the introduction of the idea of ‘sleeper cells’- groups of would-be terrorists living in the U. S. and waiting, for years or decades, to strike- meant that everyone at their mosque, or the entire mosque itself, might be waiting for instructions from their presumed leaders in the hills of Afghanistan or Pakistan. (Zeitoun page 212) It didn’t surprise me at all that Zeitoun have those thoughts that might seem over-worried in some people’s eyes.. Indeed, another author Maysan Haydar had mentioned similar thoughts in her essay â€Å"Veiled Intentions: Don’t Judge a Muslim Girl by Her Covering. † â€Å"Now some people hold their breath a bit longer, assuming I’m a fundamentalist or wondering if I’m there to cause them harm. I sense people studying me on the trains, reading the cover of the book in my hand and trying to gauge if I am one of ‘us’ or one of ‘them’. I grapple with the frustration that I can’t reassure everyone individually that my goals have everything to do with social justice and nothing to do with holy war. But I have seen suspicious fade in the eyes of the pregnant woman to whom I’ve given my subway seat or the Hasidic man whose elbow I’ve taken to help him up the stairs. † (Haydar pg 406) I feel very sorry for Haydar and Zeitoun’s experiences. Muslim people are always feared to be presumed as terrorist. American frightened by the traumatic event of 9-11 developed a stereotype against people from Middle East. The fear of being attack also again drove American crazy on national security. However, for whatever reason, racism has put upon so much harm on people we discriminate against. Muslim people like Zeitoun, hard working and honest people, are forced to live under the fear of being prosecuted for his race someday, taken away from his family, locked up in somewhere nobody would know he’s died or not. Those fears have made them coward under a lowly skin, live like second-class citizens. â€Å"In the weeks after the attacks on the Twin Towers, Kathy saw very few Muslim women in public. She was certain they were hiding, leaving home only when necessary. In Late September, she was in Walgreens when she finally saw a woman in a hijab. She ran to her. ‘Salaam alaikum! ’ she said, taking the woman’s hands. The woman, a doctor studying at Tulane, had been feeling the same way, like an exile in her own country, and they laughed at how delirious they were to see each other. † (Zeitoun page 46) Indeed, as part of international society, American allowed people to be exiled from their own country. In Edward Said’s essay, â€Å"States†, he escribed how they, Palestinian people was exiled from their own country and forced to scatter around the world, be denied of personal identity everywhere. †Some Israeli settlers on the West Bank say: ‘The Palestinians can stay here, with no rights, as resident aliens. ’ Other Israelis are less kind. † (Said pg 546) â€Å"The fact is that today I can neither return to the places of my youth, nor voyage freely in the countries and places that mean the most to me, nor feel safe from arrest or violence even in the countries I used to frequent but whose governments and policies have changed radically in recent times. (Said pg 547) In a documentary I have watched, in some cases, if a Palestinian wants to travel from points to points, they have to go through checkpoints set up by local military. They would be asked to show their prove of identity and relevant documents which sources were mostly denied. Nobody tell them what to do then, no laws protect them, some of them can’t even go to hospitals and schools like every other human being in the course that they don’t have a legal identity. We as adults, teach our kids not to bully in school, that it’s wrong to do so. In contrast, as a human, we allow our country, ourselves to bully on people with a different skin tone. Isn’t this hilarious? Another main subject posted in this book is the criminal justice system in America. Zeitoun was initially arrested in his house, then taken to the bus station, naked searched and put in jail. Throughout the whole process, he had never been told of his charges, no phone calls granted, no one had ever given him a chance to defend himself or to find a lawyer. He was treated as terrorist. In the course of his Middle-Eastern accent, everything about him seemed suspicious to the guards. He was kept in inhumane confinement, was given pork for food despite his religion. He had a deep wound in his feet but was never treated nor given any medical attention. There were basically no laws in effect, Zeitoun was treated as if he wasn’t an American citizen anymore, constitutions and laws don’t protect him. â€Å"Watching the evidence on the table mount, Zeitoun’s shoulders slackened. Most municipal systems were not functioning. There were no lawyers in the station, no judges. They would not talk their way out of this. The police and soldiers in the room were too worked up, and the evidence was too intriguing. (Zeitoun 215) But the most disappointing fact about this is what t I found out later in the book, that all of this happened to Zeitoun was not special cases happened once or twice, it was somehow permitted. â€Å"But knowing that Zeitoun’s ordeal was caused instead by systemic ignorance and malfunction- and perhaps long-festering paranoia on the part of the National Guard and whatever other agencies were involved-was unsettling. It said, quite clearly, that this wasn’t a case of a bad apple or two in the barrel. The barrel itself was rotten. (Zeitoun 307) This is totally different from what I learnt from my administration of justice class. The whole process is wrong. How could an innocent person be justified this way? Not even a phone call allowed. It is nothing better than abduction. Who gave government the right to treat people like this? I guess under the name of National Security, there’s nothing government can’t do, all laws and constitutions could be undermined. James Bamford, author of essay â€Å"Wired† pointed out the same point, says in his essay, â€Å"’They violated the Constitution setting it up. He says bluntly. â€Å"But they d idn’t care. They were going to do it anyway, and they were going to crucify anyone who stood in the way. ’† â€Å"Basically all rules were thrown out the window, and they would use any excuse to justify a waiver to spy on Americans. † (Wired pg 0843,, 084) National Security, initially served the principle of protecting Americans has become a tool to against Americans. â€Å"The NSA has turned its surveillance apparatus on the US and its citizens. It has established listening posts throughout the nation to collect and sift through billions of email messages and phone calls, whether they originate within the country or overseas. It has created a supercomputer of almost unimaginable speed to look for patterns and unscramble codes. Finally, the agency has begun building a place to store all the trillions of words and thoughts and whispers captured in its electronic net. † (Wired pg 81) Isn’t it scary to know our government has already gone this far for â€Å"National Security†? Anyone is a target of NSA. But who is more prone to be checked on? I believe this could be linked again to the topic of racism. Look back to Zeitoun and his fellows’ arrest; I believe they would never have been presumed as terrorists, despite the same context and evidence, if all four of them are white. The book Zeitoun serves more than a journalism. Dave Egger cleverly brought out these two important topics to us through the book. Could we still call our country States of freedom and equality after learning all these previously unknown facts? It’s time for people to stand up to protect the prides of America, fix our criminal justice system, drive racism into history and look forward to a better, true States of freedom and equality.