piagets early adulthood stage :: essays research papers

marshall is a twenty-three year old male in the early adulthood peak of development. He has been married for almost a year now and has a 6-month-old child. He and his wife have recently bought their first home. He us almost finished with his bachelors pointedness in banking and pay. He is taking a few classes while also working a high stress full-time job.As far as physical development, he is in good health. He may be a few pounds overweight because he has become more sedentary since he has been in school full-time and working full-time. He has no substance problems in fact, he has never smoked a cigarette, drank alcohol, or tried whatever drugs is his life.In his cognitive development, he has attended five years of college and will graduate this may with a degree in banking and finance. According to John Holland, Marshall is a person of conventional personality. Holland says that Marshalls personality type like well-structured tasks and values material possessions and social s tatus, which are traits well suited for his finance career. He seems to be some like the conventional personality but mostly his personality falls more in the enterprising category. He is adventurous, persuasive, and a strong leader. So he is definitely a blend of these two personality types.In emotional development, Marshall seems to have mastered Eriksons affaire versus isolation conflict. He has a healthy marriage, and many other close relationships such as friends, family, and coworkers. Marshall also follows Levinsons early adulthood stage with dreams for his life. His dreams are mostly individualistic and he sees his wife as a supporter of his goals and a primary caregiver for the children. Marshalls marriage is considered a traditional marriage according to the text, where his wife does the housework and cares for him and the children.Marshall had made the transition to parenthood quite well. He had some maturing to do and realizing that his needs no longer came before someo ne elses.

The Harsh Treatment of Women in Afghanistan Essay -- Culture

The Harsh Treatment of Women in AfghanistanSince the tragedies of September 11th 2001, Americans have authentically opened their eyes to the political state of Afghanistan. The poor treatment of women in Afghanistan is an issue that, for many Americans, just seems to be coming to light as a serious concern that requires outside attention. Extreme Islamic leaders in the clownish persist in limiting the freedom that Afghan women have. Women in the Taliban-controlled country suffer unusually hideous acts of torment and be forced to abide by outrageous regulations because of stringent enforcement methods. Afghan women daily live lives restricted by Taliban law and risk having to endure cruel punishment and torture, yet Afghan political leaders continue to justify the their treatment of Afghan women. The Islamic women of Afghanistan are denied many of the same liberties that Americans take for granted everyday. Although the religion that they have faith in, according to Janelle Br owns Terrors First Victims, guarantees women status in society as individuals and religious d...

vampires :: essays research papers

VampiresTrue vampires possess divergent characteristics, powers and weaknesses than the fictional vampire.The outward appearance is only slightly different to that of a human, their eyes argon usually larger and more defined with long lashes. Their features are often pointed the females and males are slender. This helps hide their inhuman strength hence their opponents almost always underestimate them.All vampires are attractive because of this vampires are almost always hunted by the same sex, to help prevent the hunter from forming an emotional attachment with their intended victim.Vampires are in a sense immortal. They lowlifenot die of old age and are always in their prime at around 20 30 years of age (physically). They are immune to almost any diseases and poisons and cannot spread a disease from one human to another. They can recover from most wounds a new vampire might take three days to recover from a wound that would take an older vampire three minutes. Vampires can o f course be killed if the wound is large enough that they will die before they have time to heal, this means that old vampires are almost impossible to kill as they heal almost instantaneously All vampires are extremely strong generally the older they get the stronger, quicker and smarter they get. Age is not everything in the power department the quantity of self-discipline and will power the vampire has limits the force it can gather.The powers/abilities that the average vampire has are- Weaponry, All vampires have an affinity with weapons, they can pick up almost any weapon and use it effectively, young or new vampires are ingenious in weaponry and martial arts. Vampires usually become an expert in one or two weapons. Vampires are the best assassins but arent utilise very often because they arent easily found and the reluctance of the seeker because of the misconception that the vampire will kill them, and then ask about the job proposition, when it would actually happen the o ther way around, in most circumstances. - Vampires are stronger and faster than any other known species, even Elves who are widely thought of as the fastest and strongest sentient creatures that still exist.Some common misconceptions about vampires are- Sunlight is traditionally a way to kill a vampire. This is partly true, vampires are allergic to sunlight, especially young vampires, the reaction lessens the older and more experienced the vampire becomes.

Increasing Student Achievement through Preventing School Violence Essay

Increasing Student Achievement through Preventing School craze Introduction School abandon is any type of military force, whether it is a simple threat on another student or a school shooting, that happens in the school environment. Student achievement is the efforts made by the student to work hard in the classroom. The purpose of this research paper is to examine how school violence impacts student achievement. It would seem that school violence would have a negative impact on student achievement. If this is the case then we need to do what we canful to prevent violence in schools. Technology can be used to help control school violence. Information on School emphasis Violence in our schools has become an increasing problem. Within the United States alone, there have been approximately twenty-two school shootings since 1978 (Cruz, 2002, p. 53-54). Eighteen of the twenty-two occurred during the 1990s. It has been approximated that a school criminal offence occurs every six seconds (Day, 1996, p. 9). We must ask ourselves why school violence has flourished. When we try to answer this question, we tend to blame society. Violence in the media seems to be the upshot one cause for violence in the school. However, society and media are not the only things to blame. There are so many reasons for why school violence has become increasingly more popular, but there is one thing that can be said for sure is that our students need to be able to con and work in a safe environment. The need to create a school environment that is free of violence and drugs has become a public precession (Flannery, 2000). People need to pull together as a community and help in the fight against school violence. We need to give students... ...zine/vault/A2857.cfm 24. The billet describes how we can use technology to help prevent school violence. The article discusses some of the technologies being used to prevent violence in the school system. Also, the set gives a list of ways to assess the technologies being used as a solution to prevent violence.25. Thompson, R. (2000). Promoting Academic Achievement and Safe Schools. Retrieved April 24, 2004 from http//www.nationalcenter.org/P21NVThompsonViolence600.html26. The author discusses ways of trying to promote academic achievement and safer schools. 27. The author also realizes that the only way to make sure that students succeed is to make sure that their schools are safe.28. U.S. incision of Health and Human Services (2002). School Violence Prevention. Retrieved April 25, 2004 from http//www.mentalhealth.samhsa.gov/schoolviolence/

Lady Macbeth :: essays research papers

(1.5.57-58) In this scene Lady Macbeth believes that Macbeth lacks the ability to fulfil the witches second prophecy. She learns that Duncan is coming to visit her and she calls upon supernatural agents to forgather her with cruelty. Lady Macbeth says Come, thick night, And pall thee in the dunnest smoke of hell In this quote she is asking the supernatural agents to fill her with the darkest smoke of hell.(5.1.38) In this scene a gentlewoman who waits on Lady Macbeth has seen her walking in her sleep and has asked a doctors advice. Together they observe Lady Macbeth make the gestures of repeatedly race her hands as she relives the horrors that she and Macbeth have carried out and experienced. Lady Macbeth says Hell is murky. She is remembering the murder that she and Macbeth committed. She states, Yet who would have thought the old man to have had so much blood in him? remembering how bloody the Macbeths hands were. She felt horrified that they had committed this evil act of murde r.These two quotes go in concert because first she is asking to be fill up with the darkness of hell and then says later in the play that hell is murky. These two quotes show that she had asked to be filled with hell and then later after committing these sinful actions she describes hell as being dark and unclear.(2.2.82-83) Here in this scene Lady Macbeth is talking to Macbeth approximately the murdering of Duncan. Macbeths hands were red with blood from killing Duncan and Lady Macbeth says My hands are of your color, but I shame To wear a heart so white. This quote means that she is in the middle of this incident but she wishes not to be in it because of its brutality. She feels ashamed because she made Macbeth make sure he action the witches prophecies. (5.1.44-45) In this scene Lady Macbeth is sleep walking and is commenting on the wife of the Thane of Fife. The Thane of Fife had a wife. Where is she now? This quote shows that she is afraid now for her and her husband. She re alizes that the consequences of their actions will now reconcile their future, and her future does not look good. She is also wondering if she will ever be forgiven for her and her husbands evil actions.These two quotes show how Lady Macbeth feels about being a wife of a thane and about the murdering of Duncan.

Macbeths tragic insanity Essay -- William Shakespeare

Insanity is specify as the inability to understand the nature and consequences of ones acts or of events, matters, or transactions in which one is involved. In William Shakespeares Macbeth, the protagonist turned antagonist, Macbeth, was once valours minion (I.ii.16) a loyal and devoted nobleman of Scotland. However, he commits a heinous act of regicide in order to ascend the throne, only to become a tyrant who in the end was regarded as nothing further a dead butcher (V.ix.35). Macbeth was unarguably sane in the beginning of the play, however, at the end of the play its unclear whether or not Macbeth truly was a crazed blood hound (V.ii.32), or if he was still acting on his own accord. Critics may say that this Bloody sceptered tyrant (IV.iii.95), who murdered gratis(p) people indiscriminately through the novel befell the holds of insanity, but in truth, Macbeth, whether for better or for worse, never was truly driven insane. An attribute of insanity was previously defined as the inability to understand the consequences of ones acts or events around one, which furthers the argument that Macbeth was sane. When Macbeth, due to his insecurity of his position as king starts eliminating his enemies, he does video display a certain degree of incomprehension towards the consequences of his actions, saying the very firstlings of my heart shall be/The firstlings of my hand (IV.i.157-158). However, the very fact that he says he will not abridge into account what he thinks (such as the consequences of his actions), shows that he indeed does still have the ability to understand the consequences of his actions, hence he is not insane. Towards the end of the book is where Macbeths sanity is questioned most. One such question arises up... ... towards Macduff, this not only shows Macbeths guilt at having committed such a horrible crime towards Macduff, but also has an inkling of a conscience. From Macbeths comprehension of the events taking place around him to his re pentance to his conscience, its unarguable that Macbeth at the end of the play was insane. From the beginning, Macbeth fabricates his own demise, at last going on to control his fate right up till his ruinous end. Once a good, and loyal noble man of Scotland, Macbeth, was driven to by whatever motivation to commit acts of such malice, such cowardice and of such malevolence that its an insult to the memory of those whose lives were taken by him, to classify him as merely a deranged hell hound.Works CitedShakespeare, William. Tragedy of Macbeth . Ed. Barbara Mowat and Paul Warstine. New York Washington Press, 1992.

Macbeths tragic insanity Essay -- William Shakespeare

Insanity is defined as the unfitness to understand the nature and consequences of geniuss trifles or of events, matters, or proceedings in which one is involved. In William Shakespeares Macbeth, the protagonist turned antagonist, Macbeth, was once valours minion (I.ii.16) a loyal and devoted nobleman of Scotland. However, he commits a heinous act of regicide in order to ascend the throne, only to become a tyrant who in the end was regarded as nothing but a dead botch (V.ix.35). Macbeth was unarguably sane in the beginning of the play, however, at the end of the play its unclear whether or not Macbeth truly was a deranged blood give chase (V.ii.32), or if he was still acting on his own accord. Critics may say that this Bloody sceptered tyrant (IV.iii.95), who murdered innocent people haphazard through the novel befell the holds of insanity, but in truth, Macbeth, whether for better or for worse, never was truly driven insane. An attribute of insanity was previously defined as th e inability to understand the consequences of ones acts or events around one, which furthers the argument that Macbeth was sane. When Macbeth, due to his insecurity of his position as king starts eliminating his enemies, he does display a sealed degree of incomprehension towards the consequences of his actions, saying the very firstlings of my heart shall be/The firstlings of my hand (IV.i.157-158). However, the very fact that he says he will not take into account what he thinks (such as the consequences of his actions), shows that he indeed does still have the ability to understand the consequences of his actions, hence he is not insane. Towards the end of the book is where Macbeths sanity is questioned most. ace such question arises up... ... towards Macduff, this not only shows Macbeths guilt at having committed such a horrible crime towards Macduff, but also has an glimmering of a conscience. From Macbeths comprehension of the events taking place around him to his repentance to his conscience, its unarguable that Macbeth at the end of the play was insane. From the beginning, Macbeth fabricates his own demise, eventually going on to control his fate right up till his ruinous end. Once a good, and loyal noble man of Scotland, Macbeth, was driven to by whatever motif to commit acts of such malice, such cowardice and of such malevolence that its an insult to the memory of those whose lives were taken by him, to classify him as merely a deranged hell hound.Works CitedShakespeare, William. Tragedy of Macbeth . Ed. Barbara Mowat and Paul Warstine. New York Washington Press, 1992.

Housing Finance

pic pic pic BY SHALEEN BAWEJA (15946) PUROO SONI (15907) DIWAKAR ANAND (15912) MUDIT KALRA (15918) AMAN ARORA (15944) ACKNOWLEDGEMENT We as a group would akin to show our sincere thanks to MR.KUMAR BIJOY our financial SERVICES faculty for seconding us study the undetermined in depth thus giving us a whole approximately experience. We also express our gratitude towards COLLEGE OF BUSINESS STUDIES for giving us the opportunity to r all(prenominal) on the project. INDEX S. No. PARTICULARS PAGE 1. PROFILE OF NATIONAL trapping BANK 4 2. wherefore HOUSING pay IS great? 7 3. HOUSING & GDP 8 4. TYPES OF nursing legal residence bestowwordS 9 5. HOUSING pay COMPANIES IN INDIA 11 6.SUMMARY OF FINANCIALS OF SELECTED HOUSING FINANCE COMPANIES 21 7. REVERSE MORTGAGE LOAN 22 8. HOUSING FINANCE- SCOPE IN INDIA 24 9. ASSESSMENTS & PROSPECTS 30 10. FUTURE EXPECTATIONS 32 11. LIMITATIONS OF HOUSING FINANCE 33 12. ANNEXURES 35 PROFILE OF THE NATIONAL HOUSING BANK The theme admit cashbox (NHB) was causeed on 9th July 1988 to a lower place an personation of the Parliament videlicet he National accommodate Bank Act, 1987 to function as a principal agency to promote Housing Finance Institutions and to provide financial and former(a)wise support to much(prenominal) institutions. The Act, inter alia, empowers NHB to ? Issue targetions to trapping pay institutions to ensure their growth on sound lines ? Make adds and advances and render any former(a) family of financial assistance to scheduled banks and trapping pay institutions or to any authority established by or under any Central, carry or Provincial Act and engaged in slum improvement and Formulate schemes for the purpose of mobilisation of resources and extension of credit for hold OBJECTIVES NHB has been established to achieve, inter alia, the hobby objectives ? To promote a sound, healthy, viable and represent effective admit finance arranging to cater to in all segments of the commonwealth and to integ dictate the caparison finance system with the all overall financial system. ? To promote a network of dedicated housing finance institutions to adequately serve various regions and different in have intercourse groups. To augment resources for the celestial sphere and direct them for housing. ? To progress housing credit to a greater extent(prenominal) inexpensive. ? To regulate the activities of housing finance companies establish on regulatory and supervisory authority derived under the Act. ? To encourage augmentation of emerge of buildable background and also building materials for housing and to upgrade the housing stock in the country. ? To encourage normal agencies to emerge as facilitators and suppliers of serviced contri scarcee, for housing. BUSINESS ACTIVITIESNHB, as the black grocery storeer take aim financial institution for the housing celestial sphere in the country, performs the following fictitious characters ? Regulation and Supervisi on NHB exercises regulatory and supervisory authority over the HFCs in the proceeds of acceptance of deposits by them pursuant to the powers vested in it under the Act. As per the amendments to certain provisions of the Act, which came into effect from June 12, 2000, NHB is vested with powers to grant Certificate of Registration to companies for commencing/carrying on the business of a housing finance institution.Besides, NHB regulates the deposit acceptance activities in accordance with the Housing Finance Companies (NHB) Directions, 2001, amended from time to time, in the matter of ceiling on borrowings (including public deposits, rate of inte stay on, period, liquid assets, etc). NHB has also issued Directions on prudential norms in regard to swell adequacy, asset classification, concentration of credit, income recognition, provisioning for bad and doubtful debts etc. NHB supervises the working of HFCs d aceness on- range inspection and cancelled-site surveillance. ? Financi ngNHB raises resources for the housing sector towards increasing b atomic number 18-assed housing stock and provides refinance to a large set of retail lending institutions. These include scheduled commercial banks, scheduled state cooperative banks, scheduled urban cooperative banks, specialised housing finance institutions, apex co-operative housing finance societies and agriculture and rural education banks. Refinance is provided by NHB under various schemes, which are formulated taking into account, several aspects of the National Housing Policy, the constraints face the sector etc.NHB has also a window for direct lending to Public Agencies such(prenominal) as, State Level Housing Boards and Area reading government activity for large scale integrated housing projects and slum redevelopment projects. NHB is also operating a special window for extending financial assistance to the people unnatural by natural calamities viz. earthquake, cycl ane etc. ? Resources of NHB NHB ra ises resources from diversified sources, both domestic and external by issuing Bonds/ debentures, borrowing from RBI and financial institutions/organisations etc. at a lower place the Act, NHB is authorised to issue and sell Bonds with or with come forward the assure of the Central Government for the purpose of carrying on its functions. ? Rural Housing NHB launched the Swarna Jayanti Rural Housing Finance schema to mark the golden jubilee of Indias Independence. The Scheme seeks to provide improved introduction to housing bestows to borrowers for anatomical structure/acquisition/ up-gradation of a dwelling in rural areas of the country. Statistics Comparative information on Housing Finance Disbursement Housing Finance Companies (Amt in Rs. crore) July-Sep 2003 July-Sep 2004 UNIT AMT 101182 5207. 42 UNIT AMT 104225 6286. 15 Why housing finance is in-chief(postnominal)? Perhaps few things are more developmental than housing. Given its linkages to many sectors in the eco nomy including land merchandises, crook, and labour marts housing finance is key to stinting growth. It has been estimated that there are roughly 600 other industries that bugger off links to the housing markets.A excitant to the take away for housing provide feature a direct or indirect stimulatory impact on all of these industries. The availability of owe financing also stimulates the social structure of new housing units. family unit construction and connect industries are labour-intensive and thus provide signifi behindt interlocking opportunities thus, a greater demand for housing provides a very large economic stimulus to the broader economy. There are also numerous other societal and Developmental benefits to providing decent living space to the poorer segments of society, which are our principal target markets.Productivity and employment are very often enhanced by providing a living space close to where people work. IMPORTANCE OF HOUSING SECTOR IN INDIA ? Inco me generation It is estimated that the construction sectors income multiplier is approximately 5, while construction related manufacturing has an income multiplier of 7. 6. ? Employment Generation Today, there are 2. 5 cr. construction workers in the country. In landmarks of direct, indirect and induced employment generation, the construction sectors employment multiplier is 7. 76. ? Revenue Accruals to GovernmentAn investment of Rs. deoxycytidine monophosphate gene pass judgment Rs. 11. 4 as revenue to the Government in the form of sales, excise taxes and octroi. ? A basic human necessity supporting economic activities. ? Have forrard and backward linkages with over 250 ancillary industries. ? Every Rupee spent on construction, an estimated 75-80 paise is added to GDP. ? Housing Industry Growth in last 5 geezerhood physiological Terms 3. 0 % p. a. Financial Terms 30% p. a. ? Contri unlession of Housing in GDP is just about 6%. ? Percentage of Mortgage Debt to GDP is 8. 0% ( E) in 2005-06, still way downstairs Chinas (12%), Malaysia (22%), Hong-Kong (40%) and US (65%). ? An engine of equitable economic growth Investments, Savings.. Housing and GDP Housing construction contributes approximately 1-2% to Indias GDP as compared to the absolute construction sectors contribution of around 6%, which includes roads, ports, housing, dams and tailals etc. The construction exertion is the solely industry which compensates use of all other industries you need ceramics, pipes, steel, cement, glass, tiles, iron, wood, cloth.Start construction and you provide employment for hundreds of labourers, you go forth use transport for transferring materials, so the transportation industry impart get a boost, labourers income exit annex, spending will increase. Over and above, you solve the housing problem. If this is d integrity, the contribution might go up to 10% for the construction sector and around 3-4% for the housing sector. A nonher way of looking at the hug e potential of housing construction sector for the development of economy is through its impact on GDP.A 10% increase in final expenditure in the construction sector increases the GDP by 3%. TYPES OF HOME LOANS interior(a) Purchase lendwords This is the basic home bestow for the secure of a new home. plateful Construction gives This add is available for the construction of a new home on a said place. The documents that are need in such a case are slightly different from the is you submit for a normal Housing Loan. If you project purchased this plot within a period of one course of instruction before you started construction of your house, most HFCs will include the land apostrophize as a component, to value the wide speak to of the attribute.In cases where the period from the date of purchase of land to the date of application has exceeded a course, the land toll will not be included in the gist cost of property while calculating eligibility. nucleotide Improvem ent Loans These imparts are condition for implementing repair works and renovations in a home that has already been purchased, for external works wish structural repairs, waterproofing or internal work like tiling and flooring, plumbing, electrical work, painting, etc. nonpareil keep avail of such a loanword facility of a home improvement loan, later obtaining the demand approvals from the relevant building authority.Home Extension Loans An extension loan is one which helps you to consider the expenses of any alteration to the animated building like extension/ change of an existing home for example addition of an extra room etc. One usher out avail of such a loan facility of a home extension loan, after obtaining the requisite approvals from the relevant municipal corporation. Home Conversion Loans This is available for those who have financed the present home with a home loan and wish to purchase and move to another home for which some extra funds are required.Through a h ome conversion loan, the existing loan is transferred to the new home including the extra amount required, eliminating the need for pre- salary of the previous loan. Land Purchase Loans This loan is available for purchase of land for both home construction or investment purposes Stamp Duty Loans This loan is sanctioned to pay the stamp duty amount that needs to be paid on the purchase of property. Bridge Loans Bridge Loans are designed for people who wish to sell the existing home and purchase another. The bridge loan helps finance the new home, until a buyer s found for the old home. Balance-Transfer Loans Balance Transfer is the transfer of the balance of an existing home loan that you availed at a higher rate of bear on (ROI) to either the same HFC or another HFC at the current ROI a lower rate of interest. Re-finance Loans Refinance loans are interpreted in case when a loan for your house from a HFI at a particular ROI you have taken drops over the historic period and you stan d to lose. In such cases you may opt to swap your loan. This could be done from either the same HFI or another HFI at the current rates of interest, which is lower.NRI Home Loans This is well-kept for the requirements of Non-Resident Indians who wish to build or buy a home or property in India. The HFCs offer attractive housing finance plans for NRI investors with suitable quittance options. HOUSING FINANCE COMPANIES IN INDIA I. BOB HOUSING FINANCE pic BOB Housing Finance Limited was set up in December, 1990 by Bank of Baroda in association with National Housing Bank. The company became a wholly owned subsidiary of Bank of Baroda since March 31, 2006. Purpose For purchase of land /site from Govt. statutory bodies such as housing boards, Development Authorities/CIDCO etc. Amount (Least of the following subjects to minimum of Rs. 50,000/-) 85% of the cost/purchase price of the land. Rs. c lacs. 42 months gross salary or 3 1/2 times of average annual income as per income tax returns last 3 long time of which ever is less. . Rate of Interest The current interest rates are as under FIXED valuate OPTION TENURE NEW RATE 1-5 9. 00% 6-10 9. 25% 11-20 9. 75% VARIABLE OPTION TENURE NEW RATE 1-20 9. 75% Interest will be calculated on annual rest basis. Installment to commence from the next month, from the month in which loan is fully disbursed or expiry of 1 1/2 year from the date of first gear disbursals whichever is earlier. Pending EMI, Pre-EMI interest is to be paid on monthly basis on loan disbursed. Security Equitable mortgage of the plot of land to be purchased. Personal guarantee of one soul. II. CAN FIN HOMES pic Can Fin Homes Limited was set up in 1987, the International Year for Shelter for the Homeless, by Canara Bank in association with reputed financial institutions including HDFC and UTI. The first bank sponsored Housing Finance Company in India Can Fin Homes has emerged as one of the jumper tercet players in the countrys home l oan segment.Canara Bank offers home loans for construction/purchase of house/flat and also for renovation of existing flat/house. The bank offers a supreme loan of Rs. 1,00,00,000/- depending on the borrowers repayment capacity. The loan repayment period is 5 10 years for site loans and 5 20 years for other loans. Canara Bank home loans are offered for purchase or construction of any residential house or flat. The bank also provides finance for companies or corporations or Societies for purposes of construction or purchase of residential houses or flats.Canara Bank provides loans to individuals for site purchase where the allotment of site shall be for the residential purpose by State Development Agencies, Municipal Bodies, and Associations. How much amount you get a loan Upto Rs. 1,00,00,000/- depending on your repayment capacity. quittance capacity will be considered after assessing your income, age, qualifications, work experience, hail of dependents, partners income, stab ility of income and employment, assets, liabilities, etc. You can apply for a loan upto 80% in the case of site loan and 85% of otal project cost for the remaining section depending on your repayment capacity. Your loan repayment will be 5 10 years for site loans, 5 20 years for other loans. They are payable in easy, Equated periodic Installments III. LIC HOUSING FINANCE pic LIC Housing Finance Limited is one of the leading players in the home loan segment. Incorporated on June, 19, 1989 and promoted by the Life Insurance Corporation of India, LIC Housing Finance Limited boasts of an extensive distribution network and a massive marker presence by virtue of being one of the earlier entrants in the market for housing loans.Griha Prakash Loan Amount Min. Rs. 25,000 Max. Rs. 1,00,00,000. Loan to post damage 85% of essence Cost of the property including Stamp Duty and Registration Charges. Loan Term Upto 20 Years or Retirement Age or 70 years of Age, whichever is earliest. R epayment Mode Equated monthly Installments(EMI) Monthly Rest Basis Security 1. Equitable Mortgage of House/Flat 2. One Guarantor. Risk cope Any existing or new insurance under any acceptable plan of insurance (issued by LIC of India) on the lives of the appliers, having risk cover to the boundary of loan amount.Front End Charges 1. 00% of Loan Sanctioned. Loan for Purchase of Vacant Plots/Sites Loan Amount Min Rs. 50,000 Max Rs. 20,00,000. Loan to Property Cost 85% of the Cost of Plot/Site. Loan Term Upto 15 Years or Retirement Age, or 70 years of Age, whichever is earliest. Repayment Mode By Equated Monthly Installments (EMI) Monthly Rest Basis. Security 1. Equitable Mortgage of Plot/Site 2. One Guarantor. Risk Cover Life Insurance Cover is not required but advisable in the interest of the applicants. Front End Charges 1. 0% of Loan Sanctioned. V. SBI HOME FINANCE pic State Bank of India (SBI), the largest bank in India, is one of the market leaders in the home loan segment. But SBIs reputation has surely taken a hit following the collapse of the erstwhile SBI Home Finance Limited in which SBI was the largest shareholder along with other institutional promoters like HDFC and LIC. Due to continued losses and complete erosion of its net value, the companys enfranchisement of registration had been cancelled by the National Housing Bank.SBI offers home loans for a variety of purposes purchase/ construction of new House/ Flat, purchase of an existing House/ Flat, purchase of a plot of land for construction of House and extension/ repair/ renovation/ alteration of an existing House/ Flat. SBI home loans come with some unique features that make them stand out in the competition no cap on maximum loan amount for purchase/ construction of house/ flat, option to club income of ones spouse and children to compute eligible loan amount, free personal accident insurance cover and complimentary international ATM-Debit card.Besides the touchstone package of home lo ans, SBI has some customized home loan products in its kitty that address the needs of niche customer segments. SBI-Flexi Home Loans are designed to modify borrowers to hedge their Home Loan against unfavorable movement in interest rates and gives the customers a one time irrevocable option to choose one of the three customized combinations of stubborn and locomote interest rates. SBI-Freedom Home Loans are customized for high net worth individuals and offer benefits such as 100 per cent finance of the project and no mortgage f the property, provided the individual could show liquid securities such as LIC policies or NSCs. SBI Housing loan schemes are designed to make it simple for you to make a choice at least as far as financing goes SBI-Home Loans Loan AmountApplicant/ any one of the applicants are aged over 21 years and upto 45 years 60 times discharge Monthly Income (NMI) or 5 times Net Annual Income (NAI), subject to aggregate repayment obligations not exceeding 57. 50% o f NMI/ NAI Applicant(s) aged over 45 years of age- 48 times NMI or 4 times NAI, subject to aggregate repayment obligations not exceeding 50%of NMI/ NAI VII.HDFC pic Both in terms of business volume and market standing, HDFC stands head and articulatio humeri above the competition in the home loan segment. With an expertise gathered over 25 years of existence in the business, HDFC has managed to create an impressive loan portfolio that caters to varied housing finance needs. HDFC offers home loans for individuals to purchase (fresh / resale) or construct houses. HDFC finances up to 85% maximum of the cost of the property which is inclusive of placement value, stamp duty and registration charges.HDFC lends a maximum amount of Rs 1 crore and the maximum period of repayment is 15 years or retirement age, whichever is earlier. HDFCs Home Improvement Loan facilitates internal and external repairs and other structural improvements like painting, waterproofing, plumbing and electric works, tiling and flooring, grills and aluminium windows. HDFC finances up to 85% of the cost of renovation (100% for existing customers). HDFC Land Purchase Loan can be employ to purchase land. HDFC finances up to 70% of the cost of the land and repayment of the loan can be done over a maximum period of 10 years.Features Maximum loan85% of the cost of the property (including the cost of the land) and based on the repayment capacity of the customer. Maximum Term20 years subject to your retirement age. Adjustable Rate Home LoanLoan under Adjustable Rate is linked to HDFCs Retail Prime Lending Rate (RPLR). The rate on your loan will be revised every(prenominal) three months from the date of first disbursement, if there is a change in RPLR, the interest rate on your loan may change. However, the EMI on the home loan disbursed will not change*.If the interest rate increases, the interest component in an EMI will increase and the principal component will reduce resulting in an extension of t erm of the loan, and vice versa when the interest rate decreases. Fees1% of the loan amount applied plus applicable service taxes and cess. No Charges for Part or Full Prepayment of loan under Adjustable Rate (except in case of prepayment through a refinance from other bank or institutions prepayment charges will be applicable) Fixed Rate Part prepayment upto 25% of opening loan outstanding in a financial year Replacement of chequesIncome Tax Certificates Accelerated Repayment Option VIII. ICICI pic ICICI Bank offers home loans for purchase or construction of house and the loan amount can be up to 85% of the cost of the property. The loan must terminate before or when the borrower turns 65 years of age or before retirement, whichever is earlier. ICICI home loans come with benefits like easy interest rates, simplify documentation, doorstep service and free personal accident insurance. ICICI MaxMoney Home Loans offer the unique advantage of higher loan eligibility with a lower ini tial induction.One can get up to 30% higher amount against ones current income and the facility amount gets stepped up over the years. ICICI SmartFix Home Loans combine the safety of laid rates plus the advantages of floating rates. For the first 3 years the borrower gets a fixed interest rate and the fourth year onwards, the loan gets switched to the prevailing floating interest rate. Home Improvement Loans You can get a loan for renovation /refurbishment of your home. Get the same interest rate as applicable on Home Loans Avail of loan upto Rs. 50 Lakhs Avail of loan upto 70% of cost of improvement Enjoy repayment period of upto 15 years. IX. SUNDARAM FINANCE GROUP pic The south-based Sundaram Home Finance Limited was launched on July 2, 1999, by Sundaram Finance Limited with comeliness participation from International Finance Corporation (IFC), Washington and FMO, Netherlands. later on consolidating its business in the south, Sundaram Home Finance has made forays in the Northern states as well. Sundaram home loans are offered for purchase or construction of any residential house or flat.The house/flat can be purchased from a builder or from a Statutory Authority. The maximum loan amount can be Rs. 1 crore or 85% of the agreement value, whichever is less. The tenure of the home loan can be 20 years or retirement age, whichever is earlier. Sundaram provides Home Improvement Loans to individuals for carrying out internal and external repairs to an existing home. The maximum loan amount can be Rs. 1 crore or 70% of the agreement value, whichever is less. The term of the home loan can be 10 years or retirement age, whichever is earlier.Sundaram Land Loans facilitate purchasing of land for construction of residential units. The maximum loan amount can be Rs. 1 crore or 50% of the agreement value, whichever is less. The tenure of the land loan can be 15 years or retirement age, whichever is earlier. Sundaram also provides loans against existing residentia l properties. The maximum loan amount can be Rs. 25 lakhs or 50% of the value whichever is less. The maximum term of repayment for remunerated captains is 10 years or retirement age whichever is earlier.Maximum loanRs. 1 crore or 85% of the agreement value, whichever is less, subject to repayment capacity as assessed by SHFL. Maximum term of loan Salaried Category20 years or retirement age, whichever is earlier for all salaried categories of customers. For Self-employed15 years or 65 years, whichever is earlier. X. Housing and Urban Development Corporation Ltd. (HUDCO) pic Established on April 25, 1970, the Housing and Urban Development Corporation Ltd. (HUDCO) is a fully owned organization of the Government of India.HUDCO was instituted with the objective of providing long-term finance for construction of houses, undertaking urban development programmes and infrastructure facilities. HUDCO stands out in the burgeoning housing finance industry for its focus on the social aspect of housing and utility infrastructure provision. In spite of its commercial orientation, HUDCO has espouse a policy of preferential allocation of resources to the socially disadvantaged. It continues to emphasize on sectors which are more socially relevant rather than only on commercially viable and profitable sectors.HUDCO has played a stellar image in the implementation of National Housing Policy. It has been entrusted with the implementation of the priority programmes of the Ministry like Low Cost Sanitation, Night Shelter for Footpath Dwellers, Shelter Upgradation under Nehru Rozgar Yojana, Rural housing under Minimum Needs Programme. Although commercial banks and housing finance companies are doing festive business in the swelling housing finance sector, the housing needs of the poor and low income groups have remained unaddressed. In such a scenario, HUDCOs role has flummox even more significant.HUDCOs social orientation of is evident from the fact that about 92 pct of the 1 50. 93 lakh houses financed by HUDCO are for the benefit of economically Weaker sections and Low Income categories. In the face of growing competition, HUDCO has adopted innovation in its lending operations. HUDCO Niwas, which was launched in 1999, is an extremely popular housing loan scheme. Under HUDCO Niwas, individual housing loans are given directly to the borrowers instead of the established practice of disbursing loans through the state governments and their housing agencies.Moreover, HUDCO has moved the government seeking permission to encrypt the banking and insurance sectors. PropertyHousing Urban Development Corporation (HUDCO) offers Niwas scheme. The scheme is a housing finance instrument for individual families which offers loan assistance to individuals constructing or buying a house or a flat. Similar loan assistance is also extended to extend or improve an existing house or flat. Amount The maximum loan amount will not exceed 85 per cent of the total cost of the ho using unit, including incidental cost like stamp duty and registration. The maximum loan amount granted by HUDCO is Rs 15 lakh. Payment Term It is normally up to 15 years, but the period will not extend beyond the age of 65 years of applicant. However, HUDCO Niwas will endeavor to determine the repayment period to suit the gizmo of the applicant. In case the applicant wishes to extend the period of repayment beyond 15 years, it can be extended up to 20 years. However, in such cases, additional interest of 1 per cent per annum will be charged over and above the regular rates. Summary of Financials of Select Housing Finance Companies in 2005 PARTICULARS LIC Housing Finance Ltd. Can Fin Homes Ltd. Sundaram Housing Finance Ltd HDFC Ltd. Summarised Balance Sheet Assets Loans 360,115. 00 15,292. 70 13,105. 00 8,165. 27 Investments 31,300. 40 1,201. 80 333. 10 218. 03 Fixed Assets (Net Block) 2,948. 0 301. 00 35. 80 82. 77 Net Current Assets/Others 10,941. 10 766. 10 188. 60 341. 3 1 sum up Assets 405,305. 00 17,561. 60 13,662. 50 8,807. 38 Liabilities Share Capital 2,491. 0 501. 20 204. 90 265. 00 Reserves 36,339. 80 1,394. 70 1,320. 70 469. 54 Total Shareholders funds 38,831. 00 1,895. 90 1,525. 60 734. 54 Loan funds 366,474. 00 15,665. 70 12,136. 90 8,072. 4 Total Liabilities 405,305. 00 17,561. 60 13,662. 50 8,807. 38 Summarised Profit and Loss Statement Total Income 34,100. 80 10,687. 20 1,273. 30 855. 43 Total Expenditure 21,532. 95 8,611. 10 991. 20 648. 0 Gross Profit 12,567. 85 2,076. 10 282. 10 206. 73 Profit After Tax 10,365. 53 1,437. 20 211. 20 167. 08 Other Financials Dividend (%) 170 50 20 21 EPS (Rs. 41. 74 16. 21 5. 06 6. 31 Book Value Per Share (Rs. ) 179. 00 140. 59 37. 83 27. 72 Capital Adequacy Ratio (%) 13. 40 15. 00 16. 46 15. 71 Debt Equity Ratio 9. 44 8. 26 7. 6 10. 98 CALCULATION OF LOAN On receiving a loan application, financial institutions carry out the credit idea of the applicant/s. Credit appraisal is the step that decides the loan amount an applicant is eligible for. The objective of credit appraisal is to determine the ability and willingness of an applicant/s to repay a loan. A set of financial and non-financial techniques is used to meet this objective. Different financial institutions have different methods and norms of credit appraisal and for calculating the loan eligibility.Usually the ability to repay is determined by analyzing information like present income, consistency of income, experience, profession, additional sources of income, assets, liabilities, amount of installments of other loans (if any), past loan repayment history, investments, educational qualification, age, number of dependents etc. The financial ratios considered during the process of credit appraisal to determine the amount of loan an applicant is eligible for include A. Installment to Income Ratio (IIR) Expressed as percentage, this ratio is calculated asIIR = (Home loan installment amount / Monthly i ncome) * 100 Installment to Income ratio (IIR) denotes the portion of monthly income that can be spent towards home loan repayment. It is believed that about 35% to 40% of monthly income can be comfortably allocated towards home loan repayment. Based on this broad assumption, an IIR of 35% to 40% is considered to arrive at eligible loan amount. For example, at 40% IIR, an applicant having monthly income of Rs. 40,000 can repay Rs. 16,000 as home loan installment.As mentioned, an IIR of 40% is a broad assumption and can be higher or lower based on other parameters like consistency of income, experience, profession, additional sources of income, assets, liabilities, past loan repayment history, investments, educational qualification, age, number of dependents, age of dependents etc. In case of an earning co-applicant, co-applicants monthly income can be clubbed with applicants monthly income to increase the loan eligibility. With your monthly income known, you can calculate your appro ximate home loan eligibility as explained in the example below Monthly incomeRs40000IRR40% Desired Loan Tenure 20 Interest Rate 10% STEP1 affordable LOAN INSTALLMENT=(40000*40%) = Rs. 16,000 STEP2 Determine installment amount per lack of loan for desired loan tenure. In this example, installment for a loan of Rs. 1,00,000 for 20 years at an interest rate of 10% is Rs. 965 STEP3 Eligible Loan Amount = (Affordable loan installment / installment per lack) * 1,00,000 In this example Eligible loan amount=(Rs 16000/Rs. 965)*100000=Rs. 16,58,030 B. Fixed Obligation to Income Ratio (FOIR) Expressed as percentage, this ratio is calculated as FOIR = (Home loan installment amount + other loans installments) / Monthly income) * 100 Fixed Obligation to Income Ratio (FOIR) is calculated to determine the portion of monthly income that can be spent towards home loan installment after considering other fixed obligations like car loan, consumer durable loan, deduction towards salary advance recovery etc. Statutory deductions such as provident fund, professional tax, investments, insurance premium are excluded from the fixed obligation component. For example, for an applicant having a monthly income of Rs. 40,000 and a car loan installment of Rs. 4,000, at 40% FOIR, can repay Rs. 2,000 towards home loan installment (Rs. 40,000*40%) Rs. 4,000 . Some of the financial institutions do not consider loans outstanding with maturity less than one year as fixed obligation and installment paid towards these short terms loans is excluded from the FOIR calculation. This means, your loan eligibility can be higher despite of short term fixed obligations. It is worth checking the institutions policy on fixed obligations before finalizing the lender. With your monthly income and other fixed obligations known, you can calculate your approximate home loan eligibility as explained in the example below Monthly Income Rs 40000Car Loan Installment Rs 4000 FOIR% 40% Desired Loan Tenure 20 years Inte rest Rate 10% STEP 1 Affordable Loan Installments = (Rs. 40,000 * 40%) Rs. 4,000 (OF ALL OUTSTANDING LOANS)=12000 STEP2 Determine installment amount per lack of loan for desired loan tenure. In this example, installment for a loan of Rs. 1,00,000 for 20 years at an interest rate of 10% is Rs. 965 STEP3 Eligible Loan Amount = (Affordable loan installment / installment per lack) * 1,00,000 In this example Eligible loan amount=(Rs 12000/Rs 965)* Rs 100,000 = Rs12,43,000 C.Loan to value ratio (LTV) Expressed as percentage, this ration is calculated as LTV = (loan amount / property value) * 100 Loan to value (LTV) denotes the portion of value of the property that is financed by a financial institution. Each financial institution has a cap on maximum loan amount that can be extended towards financing a property. Most of the financial institutions offer loan upto 85% of the property value. The LTV offered by a financial institution may differ in certain cases. For example, LTV may be diff erent for an ratified project from an unapproved project.Instances where loan amount computed based on income (IIR/FOIR) is different from the loan amount computed based on property value (LTV), the lower of the two is considered as the eligible loan amount. SOME IMPORTANT POINTS TO BE MENTIONED 1. Income of salaried class people includes income of the applicant +income of the co-aplplicants(max2)+rental income(generally 50%) 2. Income of a self employed It is determined by the INCOME TAX RETURN of the applicant +depreciation(generally100%) 3. The IRR and FOIR can be 100% only in certain exceptional cases. 4.Another all important(p) point to note is that as the tenure of the loan decreases the loan he loan he is eligible for also decreases. Will the Installment to Income Ratio (IIR) AND Fixed Obligation to Income Ratio (FOIR) always remain the same? No, it will not always remain the same. As the income increases both IRR and FOIR also increases but it generally remains in the limi ts of 40% to 70%. Reverse Mortgage Loan Many senior citizens, retired from work worry about the dwindling amount in their bank accounts? Wondering how to maintain a steady cash flow to meet their daily needs?An option often thought of to deal with this problem, is to rent the existing house which seems a obligation and move to a littler house or to sell the house altogether and invest the proceeds to earn a higher monthly income. Why not turn that liability into an asset? The answer Reverse Mortgage. Reverse mortgage is a financial product that alters senior citizens (60 +) who own a house to mortgage their property with a lender and convert part of the home equity into tax-free income without having to sell the house.Instead of you making monthly payments to a lender, as with a regular loan, the lender makes payments to you. Multiple options are available for repayment of the loan in lumpsum at the end of the loan term. Maximum period of loan is of twenty years. The loan is not required to be serviced as long as the borrower is alive and in occupation of the property. On the borrowers death, the loan is repaid through sale of property. About 350 crore worth of Reverse Mortgage has been sanctioned. The National Housing Bank has received innumerable calls of inquiry from senior citizens wanting to know more.It is to tackle this influx of calls and give each senior citizen attention as per his/her needs, that information and counseling centres will be functional throughout the nation, at various HelpAge offices in 10 cities of India Delhi, Chandigarh, Lucknow, Hyderabad, Chennai, Jaipur, Bangalore, Kolkata, Ahmedabad, and Bhopal with especially instruct staff. Qualifications for reverse mortgage eligibility ? Should be a Senior Citizen of India above 60 Years of age. ? Married Couples will be eligible as joint borrowers provided one of them being above 60 years of age and other not below 55 years of age.Benefits of a reverse mortgage ? It aims at partly mee ting the financial needs of senior citizens without selling the property and enables recurring funds inflows to the senior citizens during their life time. ? After the death of the senior citizen, the surviving spouse can continue to occupy the property till his/her demise ? It can also be an investment tool for youngsters who plan for a retirement solution. They can start investing in a housing property and take benefit of the same during their retirement life. They have a secured investment which has benefit of capital appreciation.In India, the Reverse Mortgage concept faces a few challenges ? Indian culture dictates that property is bequeathed to heirs and housing property is a sign of social legacy. Indians have to work out of this mindset to adopt this novel concept. ? Also, on the legal front, handling the title transfer, possession of house, other regulation etc can be tricky. ? know but not the least income tax treatment for money received from the HFC is also an open issu e, since the loan disbursements cannot be considered as the income for senior citizens.reportedly National Housing Board is working on the resolution of these issues and Reverse Mortgage will be introduced in a full fledged air in India very soon. . HOUSING FINANCE-SCOPE IN INDIA pic Macroeconomic Background On the back of economic reforms undertaken in 1991, India has grown at an average rate of over 5% through the nineties peaking at about 8% in FY04. It is currently the fourth largest (in PPP terms) economy in the world with GDP turnout at USD 554 billion. Indias services led-growth strategy is well documented and is a departure from the rest of Asias manufacturing-led model for growth.Both domestic and global demand for Indias services remains robust with globally competitive firms emerging from the countrys historically protected private sector. With still much telescope for reform, Indias healthy progress in liberalization, private sector-led development, and newly establis hed political support (irrespective of the ruling party) for economic and structural reforms suggest that India could well be setting up the necessary conditions to support the type of long-term growth path over the next 2-3 decades. Inflation through the nineties has hovered between 7% and 13%.Demographics The population of India is over 1 billion and accounts for one sixth of the entire worlds population. The population is second only to China with one quarter of the worlds youth living in India. 54% of the Indian population is below the age of 25. In 2001 the productive population (age 25-44) was 278 million which, by 2013, will grow to 369 million a growth of 33%. This explosive growth will result in higher demand for housing loans in the foreseeable future. According to the 2001 Census of India the total number of households in India is 191 million, up from 147 million in 1991.Much in line with world trends of locomote household size, in India, the average household size has fallen from 5. 71 in 1991 to 5. 34 in 2001. This trend is expected to continue as individuals reincarnate to urban centres in search of work, coupled with movement away from the joint family system to single family households that is further accelerating lower household sizes. The following graphs interpret the number and bubble of housing finance in the country. picpic series1=housing finance series2=consumer durables series3=credit cards eries4=other personal loans Housing Finance The value of total residential mortgage debt moved up from USD 1. 84 billion in 1994 to USD 12. 26 billion in 2004 a CAGR of 21%. The housing finance market has recorded robust growth in the last 5 years, clocking an annual growth rate of about 40% between FY99 and FY04. Residential mortgage debt as a percentage of GDP was a mere 0. 58% in 1994 which has moved up to 2. 21% in FY04, still miniscule when compared to about 45% in the EU, 70% in the US and upwards of 30% in East Asian economies.Interest ra tes on housing loans have fallen from a peak of 17% in 1996 to 7. 5% last fiscal making owning a home more affordable. This combined with increasing loan tenures, increasing loan-to-value ratio and a rise in the installment-to-income ratio are precipitating high growth rates in the housing finance market. The organise lenders in the housing finance industry, comprising 30% of housing units constructed, are currently concentrated in the urban markets, with a greater presence in the major metros and Tier 1 cities.They are however, moving to the Tier 2 cities and smaller towns but are yet to venture into the rural markets. Also, salaried borrowers constitute the hatful of the clientele for the financier in comparison to the self-employed borrowers, who constitute a miniscule proportion. As a segment, the self-employed category is much bigger than the salaried segment, but the organized lenders have, historically, been concentrating on the salaried borrowers due to the lower risks as sociated with them. Traditionally housing finance was dominated by a handful of private sector institutions.These Housing Finance Companies (HFCs) commanded 70% market share in FY99, which has subsequently fallen to 50% In FY04 as a direct result of policy changes that permitted the entry of banks into this industry. Banks now control 40% of this market and continue to show explosive growth on account of government policy that categorizes this lending under priority sector lending and the low NPA levels experienced in this industry Shortage of Housing Official and updated statistics on the shortfall of housing units in the entire country is not readily available.According to the National Buildings Organisation (NBO), the components of housing shortage include (a) the excess of households over houses, including homeless households, (b) congestion i. e. the number of married couples requiring a separate room, (c) replacement or upgradation of unserviceable houses and (d) obsolescence /replacement of old houses. The last official estimate on the shortage of housing units was from the NBO which estimated a total shortfall of 19. 4 million units comprising 6. 6 million units in urban areas and 12. 8 million units in rural areas.Further, over 90 percent of this shortage is for the poor and low-income category (Ministry of Urban Affairs, 1998). This, shortage however, is based on the 1991 Census figures and thus is outdated. The unofficial estimate of the housing shortage is currently pegged at over 40 million dwelling units. Despite the absence of reliable statistical information, the growing population and increasing urbanisation has resulted in rising pressure on the available housing stock. As per the Planning Commission estimates, the total requirement of urban housing during the tenth five year plan, covering the period 2002-2007, is 22. 4 million dwelling units in urban areas. This comprises two components an urban housing backlog of 8. 89 million dwelling un its estimated at the beginning of 2002 and an addition of 13. 55 million new dwelling units. As per the Census 2001, housing completions (defined as the absolute increase in housing stock during a particular period) is around 5 houses units per 1,000 population per annum in India. The average annual housing completion in urban areas per 1,000 population was steady at around 7 housing units during the past three decades.This however, is lower than the minimum threshold as recommended by the United Nations of 8 to 10 housing units per 1000 population for developing countries (NHB motility and Progress Report, 2004). Table 1. 2 Addition of Census Houses per 1,000 Population 1971-81 1981-91 1991-01 Urban Added Census Houses (million) 11. 55 16. 55 19. 3 Added Households (million) 10. 00 11. 64 12. 95 Annual Housing Completions/1,000 population 7. 23 7. 61 6. 83 Rural Added Census Houses (million) 19. 25 29. 02 34. 56 Added Households (million) 15. 0 19. 16 25. 61 Annual Hous ing Completions/1,000 population 3. 66 4. 62 4. 65 Total Added Census Houses (million) 26. 53 45. 58 54. 08 Added Households (million) 25. 50 30. 80 38. 6 Annual Housing Completions/1,000 population 3. 87 5. 39 5. 26 Source Census 2001, NHB Trend and Progress Report, 2004 Rapid Urbanisation Housing needs are strongly influenced by growth in population and demographic changes. While in the recent period the total population growth has been slowing down, the urban population continues to grow rapidly. The urban population has increased from 20 percent in 1971 to almost to 34 percent currently (SSKI, 2006).Urbanisation is particularly concentrated in urban agglomerations or mega cities, defined as cities having a population in excess of one million people. These mega cities account for almost 40 percent of the total urban population. As per the 2001 Census, there were 35 mega cities and the polarization of growth towards them poses a greater challenge in providing housing in the se areas as the housing stock is unable to keep pace with demand (Nallathiga, 2005). This is exacerbated by the continuing trend of in-migration to urban areas.As a result, there has been a disproportionate rise of slums. For instance in Mumbai, almost 60 percent of the total population live in slums. Restrictive Laws One of the major issues constricting the addition of homes is the series of archaic laws governing the Indian housing and literal estate sector. Of the over 100 laws governing various aspects of real estate, many date back to the 19th century. Significant ones are the Indian Contracts Act, 1872, the Transfer of Property Act, 1882 and the Registration Act, 1908.Despite the plethora of laws, the legal framework requires a complete overhaul to make it more relevant to todays requirements. These laws often lead to prolonged litigation and create artificial scarcity of land, thereby raising prices. In India, land is a state subject1. Thus, while the centre may make amendme nts and issue guidelines, the responsibility for implementing it remains optional for a state government. With 28 states and 7 union territories (areas directly managed by the central government), support for reforms has varied advantageously from state to state.ANALYSIS Despite the problems alluded above much development has been made by the country in the field to promote housing finance during the past few decades. With the entrenchment of HDFC in1977, a system of specialized housing finance companies(hfcs) discussed above, now in hundreds was bought into being. This include 25 large and stable organizations which have been approved as eligible for refinancing from NHB which was formed in 1989. The institution as mentioned earlier is the watchdog for housing finance. It egulates all the HFCS dealing in housing finance and then sets its rules, regulations and policies binding the same. The recent developments in the field mark the effort made. The recent cut in interest rates for housing finace below 20lac clearly bring up the role played by the agencies today in countering the problem of availability of housing finance. These coups will not only help consumers (middle and lower middle class) find a trade protection for themselves but it will also motivate infrastructure companies to invest in building low cost homes for the desired category.This in turn will lead to increase in the the capital goods, development of infrastructure therefore overall development of society, increase in job opportunities for the labour class (which will earn more=spend more savings = continuous earning and spending=increase in gdp =increase in living standard). ASSESSMENTS AND PROSPECTS The housing finance market in India has undergone unprecedented change in recent times. This evolution has been interesting, especially for developing countries looking to establish or strengthen their primary housing finance markets.From a time where HDFC established itself as the first retai l housing finance company, to the next level where HDFC helped broad-base and develop the market by co-promoting three housing finance companies, GRUH Finance, Can Fin Homes and SBI Home Finance. In effect, HDFC co-promoted its own competition. The third level saw existing players having to actually re-assess the way they did business as the tide of competition rose to an almost unsustainable level with the aggressive entry of banks into the housing finance market.And finally, the present stop where there are a few dominant players with large scale operations. India today is a good example for developing countries wanting to kick off their primary housing market. The advantage of using the Indian housing finance experience is that housing finance players have been successful despite unfavourable conditions such as not having foreclosure norms for several years, difficulty in accessing long-term reinforcement sources, lack of clear titles, no reliable statistics on housing or consu mer info and an acute shortage of housing units.Rather than waiting for the government and regulators to create a favourable environment to foster a housing finance system, the market developed despite these constraints. Pre-requisites for Well Functioning Housing Finance Systems Listed below are prerequisites for a well functioning housing finance system which are universal requirements for any country ? Sound macro-economic policies Low mortgage interest rates triggered by sound macro economic policies are more important in developing mortgage markets than tax incentives and subsidies. ? Keep transaction costs low and mortgage registration systems efficient. Concentrate on getting the primary market right, e. g. transparent property rights, mortgage and credit registration, efficient mortgage collateral and repossession procedures, before creating a secondary market to finance those loans. ? Create transparent markets for lenders through approved valuation methods, house price in dices and data on mortgage industry. ? Protect and inform the borrowers, for instance, by helping them compare mortgages products. ? Access to long-term funding sources and other instruments such as covered bonds, mortgage backed securities. Broad Basing the Market Need for an Independent Floating Rate BenchmarkThere is a need to explore the creation of an independent benchmark for adjustable rate mortgages which can be adopted by all players, thereby leading to more credibility, especially in the case of upward movements in the benchmark. Better Access to Credit History India has no easily shared method of verifying a clients credit history or loan record. This has resulted in the housing finance industry witnessing a rising number of fraud incidents in the sector. There have been instances of clients taking out multiple mortgages on the same property from different lenders or providing fake documents for the site that do not exist.To enable access to better credit history for cust omers and preventing malpractices, some important steps have been initiated in the recent period. In 2005, citing increasing cases of fraud in the system, the National Housing Bank has set up a Fraud Management Cell to collect information from housing finance companies on frauds committed. The National Housing Bank as collected this data and issued circulars detailing causative factors and suggestive remedial action. . Removal of Conflicts of Interest The National Housing Banks role as a promoter should be considered as successfully completed.Serving as both a regulator and equity investor in housing finance companies creates an unnecessary conflict of interest (World Bank, 2004). At the time of inception, the National Housing Banks mandate was to promote the housing finance sector. Today this role is not required. Thus, there is no longer any rationale for the National Housing Bank to provide equity investments, thereby creating a conflict of interest as regulator and investor. Bes ides, in 2005, the National Housing Banks investments in housing finance companies was miniscule, accounting for less than one percent of its total assets. FUTURE EXPECTATIONSHigh interest rates coupled with soaring property prices have only impacted the affordability of buyers, demand, however continues to persist and will become stronger and more intense in near future. Housing Sector in India to Be On a Growth Spree By 2015 Housing demand is gathered to see a growth of around 80 one million million million for the lower-income and the lower-middle income groups. Housing Sector in India is also likely to generate around 4 Million new jobs within a decade with a whooping investment of US$ 670 Billion. Its also expected that housing and real estate sector will undergo a revolutionary transformation to grow at around 14% annually.Presently, the contribution of Indian Housing to the countrys GDP is minor at less than one percent. In 2010 the demand would further grow to a massive v olume of around 400 Million Units. This will take up a minimum outlay of US$ 890 Billion. There is a shortage of more than nearly 20 Million housing units in India and this is a collateral sign of the untapped opportunities for this sector. LIMITATIONS OF HOUSING FINANCE The housing sector in India for several decades faced a number of set-backs, such as an unorganized market, development disparities, a compartmentalized development approach and a deterrent rent control system.There was not even a concerted attempt to get wind the housing problem let alone promote it. Reforms introduced in the sector during the 1990s, however, have overturned the situation to a great extent. The designing of a shelter policy, the organization of the housing finance market, the introduction of fiscal incentives, increased public investment, legal reforms and others initiatives have brought about a number of changes in the housing sector.Interestingly, these changes have been concerned with both re ducing the housing shortage and increasing the number of quality housing stock besides increased access to various other housing amenities like safe drinking water, good sanitation and household electricity. In spite of the high growth rates exhibited by the Indian housing finance industry, this sector too has its share of problems. The survey revealed the following growth constraints 1) Limited exposure of the industry Housing finance assistance of evening gown institutions has been limited to the middle income and high-income groups.Companies have also not been able to penetrate the rural areas. 2) Absence of proper title deeds High down payment requirement and non-availability of title deeds in the absence of land records are some of the reasons responsible for the inability of the companies in reaching out to the vast population living in the rural areas. 3) No access to long-term funds Non-availability of long-term funds with housing finance companies and banks results in an a sset liability mismatch. 4) escape of foreclosure norms Lack of foreclosure norms for housing finance companies, which, if in place, will encourage HFCs to disburse more loans ) Regional Constraints ? Disparity and high rates of Stamp duty crossways the country on registration leads to the suppression of the value of property/evasion of registration. ? Imposition of stamp duty on equitable mortgages (i. e. on property used as a collateral for taking a home loan), the rate of which varies across states acts as a deterrent factor in availing housing finance as the prime security for these loans is equitable mortgage of the property financed. This form of stamp duty is a cost to the customers and should be done away with or reduced to affordable levels. ) Constraints faced by Housing Finance Companies as against banks ? Banks have access to lower cost of funds compared to HFCs because of the following reasons Banks have access to low cost retail funds Minimum capital adequacy ratio for banks is 10% whereas for HFCs it is 12% ? The Securitisation & Reconstruction of Financial Assets & Enforcement of Security Interest Act 2002 is applicable to banks but not to housing finance companies ANNEXURE I 2009 will be the year of affordable housing 29 Dec 2008, 0342 hrs IST, Mayur Shetty, ET Bureau pic S Sridhar NHB chairman & MD National Housing Bank (NHB) a subsidiary of the Reserve Bank of India (RBI) was created two decades ago to regulate and promote housing finance institutions in India. Given the current economic environment, home finance has gained centrestage, with housing construction being the largest employment generator with linkages to 250 ancillary industries. As the apex housing finance institution, NHB has taken several initiatives to promote affordable housing.In an interview with Mayur Shetty, NHB chairman and managing director S Sridhar speaks on why he expects 2009 to be the year of affordable housing. House prices have crashed in the West. The re is an expectation among buyers that prices will decline in India as well. How do you see the situation? The situation in India is quite different from that of the West. In India, the conduct of the monetary policy and regulation over banks and housing finance companies ensured that the housing bubble did not develop. Further, the actual equity component in housing is much higher than in the West.Thus, housing prices in India have fallen a bit and may fall further, but unlikely to get into a free-fall situation. What needs to be done to reduce housing shortage? I expect 2009 to be the year of affordable houses, when affordable houses will be available to the middle and lower income groups in sufficient volumes. This will happen mainly through a combination of fall in house prices and reduction in home loan interest rates. The latter has happened. I hope developers reduce prices to stimulate demand and public housing agencies will take up affordable housing in a big scale.Additiona l hygiene factors are reduction in transaction cost in home purchases through reduction in stamp duty and registration charges and the availability of risk mitigants such as mortgage guarantee, title insurance, credit guarantee for lower income houses. Where do you see interest rates on home loans? Is the NHB refinance rate likely to come down further? Interest rates are headed southward. Public sector banks (PSU banks) have set the pace. Others, including housing finance companies, are following suit. NHBs refinance rates have also come down to single digit.Refinance for rural housing at concessional rate of 8% per annum for seven years has also been provided. Our PLR has been reduced to 10. 75% per annum. NHB has announced a package for the housing sector. At what interest rate will you lend to HFCs? The refinance facility of Rs 4,000 crore extended by RBI to NHB will be on-lent by NHB to housing finance companies with the following major conditions. It will be available at an int erest rate of 8%, and will be available only for loans below Rs 20 lakh. The facility is available up to March 31, 2010.You have launched an index of home prices. How is the index doing? NHBs RESIDEX, which is Indias first official property index, was launched in July 2007 for five cities Bengaluru, Bhopal, Delhi, Kolkata and Mumbai covering the period 2001-2005. It has since been updated to December 2007. The property index has been well received. It is being expanded to cover 15 cities and up to December 2008 wh

Monopoly and American values Essay

In societies tout ensemble over the world the board second Monopoly is compete by children and adults. The Parker Brothers support has been sold in 37 different languages over 200 million copies have been sold, is claimed to be the most popular spunky, and has also been sold in 103 countries. In America millions have goed and is a normal and acceptable Ameri heap Past Time. From a functionalist perspective the board game t each(prenominal)es and expresses many of the Ameri piece of ass set such as fitting opportunity, personal achieve handst and success, obtaining material comfort, progress, and the idea of democracy and free enterprise.The functionalist perspective represents society as system containing various parts that all work unneurotic to achieve social solidarity. In a post-industrial society, how does the game of Monopoly socialize people to the American Values? Society sure does function together and is well integrated for the benefit of citizens, government, and entrepreneurs. The board game Monopoly has many rules and norms. There have even been Monopoly Etiquette Guides written for the serious thespians as well as tournament players. The recommended age for play is eight years of age and older and a minimum of two players.In America most of those with siblings of children understand how wrong a game of Monopoly can turn into a big fight. The rules of the game are pretty easy to follow. The object of the game is to wrick the wealthinessiest player through buying, renting and selling property. for each one player is given $1500 to begin the game. A player must be elected to be the banker and sell property, houses, hotels, and conciliate the $200 salary that is collected each time a player passes go. The banker is also responsible for collecting fines and taxes owed.The spaces on the board are all labeled and allow GO, Jail, Chance, Community Chest, Taxes, Free Parking, and pay rent when landing on an opponents improved property. Each player is represented by a token which is a symbol of the game. These include a wheel barrow, a car, an iron, a thimble, a cowboy on a horse, a dog , a pot of gold, a top hat, a ship, a boot, or a cannon. Each player is subject to going bankrupt, therefore increasing the other players chance of finding wealth. American society is very similar to the game of Monopoly. Players are socialized to these ideas which represent the values of America.Equal opportunity is taught by everyone beginning with the same amount of money, $1500, as well as $200 salary collected with each rotation around the board. Personal achievement and success is demonstrated on becoming the wealthiest player and to own the most property. Striving and working for material comfort is taught through collecting a salary and improving your owned properties, as well as collecting rent. Progress is a value in America that is evaluated by members of society on a daily basis. Progress in the game Monopoly is mensural by wealth and property owned and creating a monopoly on resources, buildings, and property.The last important American value taught to players is democracy and free enterprise. The consensus of Monopoly is that it is a fun game to play. The manifest function of Monopoly is to entertain a group of players whether they are children, adolescents, or adults. The latent function is teaching players to think solely of themselves and not their neighbor who they should help. rapaciousness is taught due to the emphasis of becoming the wealthiest player. The most witnessed latent function of Monopoly being causing dishonesty, anger, and even fighting between competitors.Although there are some negatives against the game the most important role is promoting social solidarity by encouraging a better community effort. Progress takes everyones help not just a few. Two excerptions were given for a research assignment at the beginning of the course. Option one was to choose a category from film, sp orts, or advertising. The second option was to read a book outside of class that focuses on Wal-Mart, minimum wage jobs for women, or how fast food has created a now demand for all of Americas services. The option selected for a personal interest was sports. More specifically how gender plays a role in the racing world.How are women and men treated differently? A major focus will be on drag racing and how times have changed as far as who can and cannot race as demonstrated by NHRA (National Hot Rod Association) Drag Racing. In conclusion Monopoly helps teach and spread the ideas of American culture. Players are to become the wealthiest and may have a higher social status as they can win Monopoly. A study in 2005 found that Americans value self expression more than survival. (Macionis pg. 49) This is even taught through Monopoly by being able to select how you build your property and by picking your game piece to represent yourself.A comparative study found that in 1969 the goal of f irst year college students was to Develop a meaningful philosophy of manners in contrast to 2005 first year college students are wanting to be very well off financially. (Macionis pg. 56) Today in America having wealth is sought by all citizens but few find extreme wealth. According to the values of Americans material comfort should be worked for and can be more important than survival. With the ideas of democracy and free enterprise being key concepts of the game it is not surprising to find that globally approximately 46% of the worlds countries are politically free.(Macionis pg. 44) Although the game has been published in 37 different languages, English is a very common first language as well as a common second language across the globe. (Macionius pg. 47) Following the same thought nearly all of the United States speaks English or Spanish in the home. (Macionius pg. 56)This allows for the further acknowledgement of the American Values to many societies. Overall the game of Mono poly socializes people of many cultures to the American values. All of the American values encourage a person to think personally rather than globally.

Pros and Cons of No Child Left Behind Act Essay

On January 8, 2002, President Bush signed into law the No Child go away Behind Act of 2001 (NCLB). This law represents his education reform plan and contains changes to the Elementary and Secondary Education Act (ESEA) since it was enacted in 1965. It is communicate Americas schools to set forth their success in terms of what each student accomplishes. The act contains the Presidents four basic education reform principles stronger accountability for results, especially in reading, increased tractability and local control, expanded options for parents, and teacher and staff quality.Schools ordain be held responsible for improving the academic performance of all students, and there will be real consequences for districts and schools that fail to make progress. Within twelve years, all students must perform at a proficient level under their invoke standards. But, states will set their own standards for each gradeso each state will say how well children should be reading at the fi nish up of third grade. Interested parents, families, and taxpayers keep look to their state for detailed information about its academic standards.No Child Left Behind combines and simplifies programs, so that schools can get and use federal official funding. Schools and teachers will get a boost for to a greater extent than $4 billion in 2002 that allows schools to promote teacher quality finished training and recruitment. Parents with a child enrolled in a school identified as in need of improvement will be able to exchange their child to a better performing public school or public charter school.No Child Left Behind gives districts new flexibility and freedom with Federal funds so children with disabilities can be better served. States will receive the freedom to target up to 50 percent of federal non-Title I dollars under the Act to programs that will have the most positive impact on the students they serve, including students with disabilities. Students will be assessed and assessments must provide for adaptations and accommodations for students with disabilities as outlined in the Individuals with Disabilities Education Act (IDEA). Though, there must be a separate measurable annual objectives adequate yearly progress (AYP) for continuous and inviolable improvement for the achievement of groups of students, including students with disabilitiesThe purpose of the No Child Left Behind Act is to ensure that all children have a fair, equal, and significant opportunity to beat a high-quality education and reach, at a minimum, proficiency on challenging State academic achievement standards and state academic assessments. President Bush states, both school every public school in America is a place of high expectations and a place of achievement. So far, five states have taken the lead in assimilating the requirements of the Act into their current accountability systems and have received approval for their proposed accountability plans from the Department of Education. The states receiving approval are Colorado, Indiana, Massachusetts, New York, and Ohio.When asking regular education and special education teachers about the No Child Left Behind Act, I realized many did not know frequently about it. I approached the principal at the school I work at and asked her about it but I received very little information. It was patent that not many people knew what this act was about they just knew that it exists. Luckily Anita the assistant to the Director of Special Education returned my phone call and had some more information for me. To Anita this challenges the educational system. As for students with disabilities, it makes the teachers be more responsive and assess special education students. It tries to bring up these students to state standards. She said that it may not be very realistic for students who are mentally retarded and have Learning Disabilities. She states that these students may not even be at the 50th percentile. Its a s truggle to get these students to a hire level. Finally, the last thing she said was that this act is pushing for kids not to be exempted from testing.

Effects On Prisons On Inmates Essay

In the premodern dates, societies used to mutilate bodies and cut off the heads of their culprits as a way of punishing the wrongdoers. in season through a series of imperceptible measures of reform and development, punishment became less physical and less directed to the body of the offenders as people became more fine-tune and the prisons replaced the g accepts. They stopped locking up the insane in asylums and began forms of word in institutions which had features of some(prenominal) hospitals and prisons, (Alan &Gary 4).In most parts of the world, it is taken that a person convicted of earnest crime should be sent to prison. Countries like the U.S, where capital punishment has not yet been abolished, a small but significant number of people be sentenced to death for what is especially considered as grave crimes, (Angela 3).The condition of prisons in the past was a nightm ar to both the country as well as the connection as they were damp, dark, and noisy. Prison wardens were brutal, poor diet and miserable portions of food were given to prisoners who were usually dressed in rags and touched from many diseases which were not treated in time resulting to poor heath of the inmates. All these inhuman acts were however viewed by the wardens as a way of punishment to prisoners and therefore the prisons lacked a sense of reformation and munificence as brutal acts were directed to inmates. According to (Thomas 602), Inmates who entered prison capable of moral improvement went back in to the society as impure, hardened and irreclaimable persons as there was no separation of sexes, classification of age and character therefore the convicted felon corrupted the untried and innocent prisoners.The unfortunate According to (Douglas & Eric 2004), military officers in Iraq used dogs to intimidate prisoners. This was one of the several tactics they adopted even without approval from their seniors. They set strict limits on Red Cross access to prisoners and dece lerate them and accused them of, unannounced visit to the cellblock where the worst abuses occurred. There were in any case unreported incidents in which Iraq prisoners died after being questioned by American interrogators.Initially, imprisonment was ground on punishing wrongdoers by inflicting suffering of the body. tho, todays imprisonment is not only an acute form of corporal punishment, but as a way of working on a persons mind and body through three areas which include punishment, deterrence and rehabilitation. Prisons are intended to allow the society remove criminals from them place them into an institution for reformation, persuade them to avoid activities which are not beneficial, and in time become productive and law abiding citizens. However this well thought plan is not put in place due to the bad experiences in prisons hence the initial meaning of prisons is not recognize by the society.The main objectives and responsibilities of prisons are to safeguard inmates and confine and improve welfare of everyone in it. Safe guarding involves keeping inmates locked away and controlled while having moments of recreation, education and rede.However, it should be realised that psychological freedom depends on relations with others and that it is what the prisoners experience in this world, attain satisfaction and avoid its detrimental effects and not the education or counseling that decide how, if ever, they will emerge hence life imprisonment of an inmate does not add to his becoming upright. It should therefore be remembered that offenders are drawn from societies where possessions are related to personal worth unlike in prison where they are reduced to a level of bare possessions. Lockups, isolation, condemnation and rejection dehumanize prisoners resulting to psychological discomforts to prisoners.A Prisons aim is to cure and straighten the bad appearances of criminals, however their record has not been encouraging and alternatively they are foun d to do more harm than heartfelt as the intentness of jail confinement affect all prisoners in different negative ways most of which destroy a person instead of reforming his or her past bad bearing. The need to quickly adapt to prison life and withstand prison shock, exposure to a new culture and maintain outside links like keeping in contact with family and friends becomes frustrating to prisoners.The prisoners must therefore determine their way of passing time which affects the great escape and this end up affecting them psychologically. (Tosh 43). All these question the practice of life imprisonment of people since instead of reforming them they end up becoming worse both in their behaviors and their psychological status. Prisons therefore should be opposed to the idea of locking up people for the rest of their lives to avoid more harm than good to them.(Alison 14-19), came up with several negative effects on prisoners as a result of imprisonment which therefore opposes the idea of life imprisonment.First is that imprisonment can be detrimental both to physical and mental health of prisoners particularly with regard to long term and aged prisoners. Though many prisoners receive medical treatment in prison that would be unavailable to them outside, the health risk of imprisonment are high, uneven and specific to the condition of confinement. For instance, Scottish prisons have reported change magnitude risk of HIV and hepatitis B and C transmission due to random sharing of injection equipment, tattooing and unprotected sexual intercourse. One study estimates showed that 36% prisoners had injected themselves intravenously and 12% had anal intercourse at least once while in prison.Post- traumatic stress is second where its psychological effects apply to accepted group of prisoners who have shown symptoms of PTSD in medico-legal assessments. Such symptoms can have debilitating effect and are associated with difficulties in restoring and maintaining relat ionships. High level of anxiety, disturbed sleep, continuing depression, withdrawal and persistent feeling of being different from others and from previous self are described by clinicians working with former prisoners. There may also be physical symptoms like increased arousal, outbursts of anger, difficulties in concentration and hyper vigilance which are associated with increased alcohol and drug abuse. (Davis 322) in the third effect argued that inmates family and dependants suffer most. Despite considerable progress in understanding immediate and long term effects of separation trauma upon children, the impact of imprisonment upon the children of prisoners includes increased behavior disturbance and later delinquency, depression and feeling of low self esteem, behavioral disturbance and deterioration in school performance.Imprisonment and distance from crime is some other effect which results to informal social control which suggests that social bonds like employment and marr iage may inhibit offending. The imprisonment reduces opportunities to achieve relational and economic stability and therefore increase re-offending. Imprisonment also weakens the bonds and traces them difficult to re-establish hence suffering a significant source of legitimate or law abiding behavior and therefore imprisonment becomes part of the cycle of delinquency and crime.Another effect is on imprisonment and prison staff. Power especially overuse has dehumanizing effect as the culture of masculinity characteristic of prison staff bring a range of emotions and new emotion management techniques. Some of these techniques can lead to hardening, distancing and distrust. The performance of adaptation could lead to enduring changes in their character and family life to preparedness to respond to danger.Imprisonments also result to some prisoners using sexual assaults and rape to make them feel powerful. Many of them use this assault to make them feel powerful than others and also express their manhood. The victims as a result are affected psychologically by being stressed, having nightmares and resulting to criminal activities and some forms of self destructive behaviour.The main solution to all these problems is to avoid inmate staying for a very long time in prisons since they tend to be harder than before and that certainly does not cure inmates rather it makes them more aggressive. Others is by ensuring good living and health conditions for the inmates, counsel them on how to handle people and relationships within and outside the prisons especially their families, provide good counseling facilities on the negative effects of using sex as a tool to feel good and demoralize other inmates.In conclusion prisons and punishments that are given to the prisoners do not necessarily bring a appointed change of behaviour.In most cases they end up destroying the person as he or she becomes immune to the situations, therefore putting a person in prison for the rest of his/her life does not ensure behavior change and should therefore opposed.WORK CITEDAngela Yvonne Davis Are prisoners obsolete? Seven stories press ISBN 1583225811, 2003Alan Hunt and Gary Wickman Sociological law of nature Pluto press ISBN 0745308422, 1994Douglas Jehl and Eric Schmitt New York times 21st May 2004Joanne Mariner and Michael Bochenek punishment before trial Human rights watch org ISBN 1564322017, 1997Tosh John The pains of imprisonment sage publications California 1982

The Effect of Lyrics in Music on Society

Music and its lyrical content has become an integral component of gild as it constitutes an essential procedure in most peoples lives. The advent of MP3 players, ipods and similar gadgets has cemented the widespread reach of unisonal lyrics, particularly among the so called MTV generation. While this point cannot be called into question, the detailed effect of lyrics on society at large is debatable and is the unfastened of much controversy. The reason for this is the paucity of research on the said subject. In rejoinder to public concern over the harmful effects of denotative lyrics, much has been said and written about it but there is short scientific induction to back up opposing claims. A careful analysis of the quick research literature, however, announces that the lyrics in symphony exercises a profound crook on society and moreover, there is disturbing usher to show that it does more harm than good.Arguments and Counterarguments about the Effect of Lyrics in Musi cIt has been argued that the lyrical content of euphony has precious little effect on the collective psyche of the masses and that the focus on its pervasive influence and perceived harmful effects is largely uncalled for. The meaning of yells is subject to interpretation, it has been claimed and as such depends entirely on the listener and his or her individual perception.Besides songs nowadays are layered with intricate meaning and severely measure the cognitive skills of the listeners who usually misinterpret the lyrics or simply dont care about them. Some are of the opinion that it is solely music as opposed to its lyrical content that affects the masses. Studies conducted by Rosenbaum and Prinsky as well as Wass et al. establish supported this claim by revealing that listeners have reported that song lyrics are not particularly important to them and that they are more attracted to qualities of music than they are to the lyrics (qtd. in Hansen & Hansen 178).All these viewp oints are misleading as they underestimate the sheer insidiousness and impact of the lyrics in songs. The tremendous popularity of rap music bears testament to the power of words, particularly since rap or hip hop focuses entirely on the lyrics and music merely serves to accentuate the clever wordplay and inherent themes. Thus the genre of rap music with its attendant controversy and crazed fan following highlights the colossal effect lyrics have on society.Further Hansen and Hansen have concluded from their studies that despite low levels of lyric comprehension and recall of song lyrics, listeners were able to extract themes of sex, suicide, violence, and demonism from songs by popular heavy metal groups using schematic processing (178) . On the basis of this and separate studies, it may be concluded that the lyrics in music have the ability to shape impressionable minds, influence beliefs, determine ones outlook towards life and subsequently at an overt level, affect the way and actions of individuals.Lyrics may enable people to become cognizant of socially relevant issues and empathize with their fellow humans. But more often that not lyrics of popular music appears to spawn harmful effects that have dangerous implications for our society.The Harmful Effects of Lyrics and Its Impact on SocietyOver the years, the lyrical content of music has undergone a metamorphosis of sorts. Lyrical themes no longer celebrate romantic love and peace but glorify pleasures of the flesh, aggression and drug use. Therefore people have become increasingly concerned with lyrics replete with sexual and violent overtones, particularly their influence on youngsters.This concern is not misplaced because in the words of Hargrave and Livingstone, studies reveal consistent messages in music lyrics that may be considered harmful including messages promoting violence among boys / men, homophobic messages, or those encouraging early sexuality among young girls / women (109) . Conte mporary music abounds with alarmingly casual descriptions of lustful and violent activities and has had the effect of desensitizing the masses and prompting individuals to make unwise decisions.With regard to the accusation of harmful effects, lyrics have been instantaneously implicated as a study by Rubin, West, and Mitchell (2001) found that fans of rap and heavy metal music scored significantly higher on measures of aggression than did fans of other musical genres (Giles 67) . And of course it is these particular genres that have come under fire for their brutal lyrics. Thus there is little doubt as to the effects of explicit lyrics on listeners.Thanks to the offensive material conveyed by songs, many of the evils that plague our society can be directly linked to the lyrics in music. For instance the increase incidence of sexual activity among adolescents, teen pregnancies, drug use, violence against homosexuals, women and other minority groups may be traced to the lyrical conte nt of music. In view of the existing evidence, the pervasive effect of lyrics cannot be taken lightly as it threatens to undermine the very foundation on which society is based.ConclusionIn light of the evidence outlined above, one may safely assert that the lyrics in music affect society to a large extent. In addition to their profound influence it is found that their effects can be harmful to the individual as well as society. Therefore the impact of lyrical content cannot be unheeded or underestimated and further research is imperative to determine its exact nature.Works CitedGiles, David. Media Psychology. Mahwah NJ Lawrence Erlbaum Associates, 2003.Hansen, Christine, and Ranald Hansen. Music and Music Videos. Media Entertainment The Psychology of Its Appeal. Eds. Dolf Zillmann and Peter Vorderer. Mahwah NJ Lawrence Erlbaum Associates, 2000. clxxv 96.Hargrave, Andrea and Sonia Livingstone. Harm and offence in media Content A Review of the Evidence. Portland Intellect Books, 20 06.