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Sunday, November 28, 2010

India - Alexandra Campmas


India

We've waited this moment for a long time... And it finally arrived, indeed, the 23th of October, in the evening, we were in the plane, hurry to arrive and see India. Through the windows we were looking toward the huge city, for me it was completely different than European cities. Then my first impression when we put our foot for the first time on the earth was the difference with the air: it was hot and we noticed smoke in the sky, Mr Pierre Clouet explained us that it was usual in winter and it was also composed of pollution. 

The first day in Delhi, I was a little bit lost, like if I was not in the right place... because I didn't have any European reference marks. And monkeys came in the hotel I was confused because it's really not usual in our country, but I found this very funny. I acknowledge that these first days it was hard to adapt me. And especially with the food... The spice food was burning me ! And at breakfast, I was not accustomed to eat it... ! I know that when we are invited in another country we have to adapt us and eat the specialties... I tried of course ! 

Well, I think that the first day I had a little “culture chock”, some situations touched me: like to see sweet children in the street crying and asking money to eat, some persons who slept on the walk street or on the grass, all the Indian who ask to buy something, some handicapped persons laying on the floor... The most upsetting situation in which I was, was when we were in Delhi, waiting for the bus with Mr Vijay Kumar, a little boy came, he was maybe 4 years old, he was crying a lot and ask to eat. I didn't have sweets any more, I felt guilty to have this chance to travel, to have clean clothes without holes, to have the chance to sleep and eat whenever I want...


Finally, some days after, when I heard the speech of a man in the Cefipra the evening which said that we should try to not judge, I understood a new thing. And the day after I said to myself “play this game” and I tried... Immediately I felt better, and days after days I thought that I had always lived in India ! I'm still missing the traffic on the road, I loved the way you drive ! I would like have the same in France ! 
I found this travel more than marvelous, the sightseeing was (and is) exceptional, (I understand better why the Taj Mahal is one of the most beautiful monuments in the world...). And I forget to say the most important thing: I've never seen people so nice that in India. Thank to Mr Vijay Kumar, Mr Jain and Mrs Sathidevi who joined us, thank to you, Mr Shiva Prasad and all the Cefipra. I will never forget all of you, your kindness and all these wonderful moments that I spend in India. I hope that one day I will be able to come back again. 

Campmas Alexandra.
Bordeaux, France

Sunday, November 21, 2010

Indian History: as and when it happened!

5000 Years Ago, Indus Valley Civilization:
The Ajanta and Ellora Caves
Indian subcontinent has a history which dates back to more than 5000 years back. Its origins lie on the banks of the
river Indus and thus came to be known as the Indus Valley Civilization. The roots of numerous ideas and philosophies can still be traced back to India.

Soon after the Indus Valley Civilization laid down the foundation of India and Indian history, the Dravidians came in as the inhabitants of this civilization which was called the Harappan culture and flourished for 1000 years. Gradually, Aryan tribes started infiltrating from Afghanistan and Central Asia, around 1500 B.C. They occupied the whole of the northern parts of India up to the Vindhya Hills. Thus the Dravidians were urged to move to the southern parts of India. The Aryans brought new ideas, new technology and new gods with them and this became an important era in the history of India. The Aryan tribe started expanding and was grouped into sixteen kingdoms, of which Kosala and Magadha were the most powerful ones in the 5th century B.C.
Around 500 BC, Invasion by Persians followed by Maurya Dynasty:
The next great invasion was around 500 BC by the Persian kings Cyrus and Darius. They conquered the Indus valley but then India went through times of speculation and indefiniteness. Then in 327 BC India again came into light due to the invasions of Alexander the great, from Macedonia. Although, he was not able to extend his powers into India.
After the Greek power receded there was a phase of uncertainty and that was when Indian history's first imperial dynasty, the Maurya Dynasty came into power. Founded by Chandragupta Maurya, this dynasty reached its height under King Ashoka. He has given many historical monuments and inscriptions. But after his death there came no other kings as powerful as him and so there was chaos again fragmenting India into smaller kingdom.
1000 AD, Decline of Chandragupta & rise in Muslim Invasions:
The Indian warriorsIt was during this time that Chandragupta II became the unifying force in northern India. India is said to have enjoyed its golden period during this time – under the Gupta dynasty. Though not as big as the Mauryan Empire, it saw huge developments in the field of art and architecture, the highlight being the Ajanta and Ellora caves. There was confusion again after the Gupta Dynasty and many regional powers rose until the Muslim invasions in 1000 AD.

Indian History, in the meantime, also saw the rise of some powerful kingdoms like the Satavahanas, kalingas and Vakatakas in the southern part of India. Later the dynasties like Cholas, Pandyas, Cheras, Chalukyas and Pallavas came into prominence.
The political instability gave opportunity to the Muslim invaders who raided the North India successfully under Mahmud of Ghazni. The next invasion was by Mahmud of Ghauri who established foreign rule in India. Many of the famous dynasties like the Slave Dynasty, Khilji Dynasty, Tughlaq Dynasty,  Saiyyid and Lodhi, Bahmani Dynasty, and Others came after that.
16th Century, Decline of the Mughal Dynasty:
Mughal excuisite architecture era
In the 16th century, Indian history saw the Mughal dynasty getting established by Babur, which lasted for 200 magnificent years. 
Some of the important rulers during this period were Babur, Humayun, Akbar, Jahangir, Shah Jahan, and Aurangzeb. This period saw an amalgamation of Indian, Persian and Central Asian influences in the field of art and architecture. Though brief, the era saw a golden age of art and literature for the whole of Indian subcontinent.  Many monuments like the forts, palaces, gates, buildings, mosques, gardens were built during this period, the most notable being the Taj Mahal, one of the Seven Wonders of the World. During this period India saw the most efficient administration.

As the Mughal Empire faded out, other foreign invasions started from the 15th century. India was a country rich with spices and minerals and so was made the target for invasions and colonization - starting with the arrival of Vasco da Gama in Goa. Later came the trading post by the East India Company in Gujrat. Gradually East India Company established trading posts in various other cities like Madras, Calcutta and Bombay. This commercial link later turned into administrative control. The French also established themselves in a few parts. There were continuous struggle between British and French emperors for establishing supremacy. Eventually, the victory in the battle of Plassey established the dominance of British in the subcontinent.
18th Century in Indian History, Britisher's Arrive:
The East India Company slowly overtook the commands of entire India, and the first war of Indian independence took place in 1857 after which India was taken over by the British government who ruled India for three hundred years, with the help of local rulers. Gradually the people of India felt the need for independence and many socio-religious movements inspired patriotism amongst the masses and the struggle for independence became a national movement.
People like Maulana Abdul Kalam Azad, Subhash Chandra Bosh, Bhagat Singh, Rajguru, Sardar Ballabh Bhai Patel, Sarojini Naidu, Chander Shekhar Azad were the pioneers of the movement. Mahatma Gandhi and his teachings of truth and non-violence paved way for eventual ousting of the British. He worked with Jawaharlal Nehru to campaign against British rule. The struggle turned fruitful when the British decided to quit India.
Mid 19th Century, India achieves freedom:
History made when India achieved freedom
But much damage was done by then, because many Muslims felt that an independent India meant a Hindu dominated India. This led to the demand of a separate Muslim region – Pakistan. On 15th august 1947, India was declared completely independent after 350 long years of struggle and turmoil. Pakistan was also created which included Bangladesh, again a place with Muslim majority.

Then on 26th January, 1950 India adopted a new constitution and became a republic. Since then India has worked hard to achieve heights in justice, media and bureaucracy.
India Now!
Today India has become one of the fastest growing economies in the world. Rapid growth in the fields of science, eductaion and technology has seen Indian's occupying important positions through out the world. From Indra Noori as head of Pepsi Co to Amrtya Sen winning booker prizes in Literature, from Lakhsmi Mittal featuring among the richest persons in the world to providng a substantial workforce to most of the countries, we Indian's are now truly reaching towards our goal of making India a super power.

Wednesday, November 17, 2010

Insurance

The history of Insurance in India dates back to 1818, when Oriental Life Insurance Company was established by Europeans in Kolkata to cater to their requirements. Nevertheless, there was discrimination among the life of foreigners and Indians, as higher premiums were charged from the latter. In 1870, Indians took a sigh of relief when Bombay Mutual Life Assurance Society, the first Indian insurance company covered Indian lives at normal rates. Onset of the 20th century brought a drastic change in the Insurance sector. 

In 1912, the Govt. of India passed two acts - the Life Insurance Companies Act, and the Provident Fund Act - to regulate the insurance business. National Insurance Company Ltd, founded in 1906, is the oldest existing insurance company in India. Earlier, the Insurance sector had only two state insurers - Life Insurers i.e. Life Insurance Corporation of India (LIC), and General Insurers i.e. General Insurance Corporation of India (GIC). In December 2000, these subsidiaries were de-linked from parent company and were declared independent insurance companies: Oriental Insurance Company Limited, New India Assurance Company Limited, National Insurance Company Limited and United India Insurance Company Limited. 

Tuesday, November 16, 2010

RBI

The central bank of the country is the Reserve Bank of India (RBI). It was established in April 1935 with a share capital of Rs. 5 crores on the basis of the recommendations of the Hilton Young Commission. The share capital was divided into shares of Rs. 100 each fully paid which was entirely owned by private shareholders in the beginning. The Government held shares of nominal value of Rs. 2,20,000.

Reserve Bank of India was nationalised in the year 1949. The general superintendence and direction of the Bank is entrusted to Central Board of Directors of 20 members, the Governor and four Deputy Governors, one Government official from the Ministry of Finance, ten nominated Directors by the Government to give representation to important elements in the economic life of the country, and four nominated Directors by the Central Government to represent the four local Boards with the headquarters at Mumbai, Kolkata, Chennai and New Delhi. Local Boards consist of five members each Central Government appointed for a term of four years to represent territorial and economic interests and the interests of co-operative and indigenous banks.

The Reserve Bank of India Act, 1934 was commenced on April 1, 1935. The Act, 1934 (II of 1934) provides the statutory basis of the functioning of the Bank.
The Bank was constituted for the need of following:
  • To regulate the issue of banknotes
  • To maintain reserves with a view to securing monetary stability and
  • To operate the credit and currency system of the country to its advantage.

Fact Files of Banks in India


The first bank in India to be given an ISO Certification
Canara Bank
The first bank in Northern India to get ISO 9002 certification for their selected branches
Punjab and Sind Bank
The first Indian bank to have been started solely with Indian capital
Punjab National Bank
The first among the private sector banks in Kerala to become a scheduled bank in 1946 under the RBI Act
South Indian Bank
India's oldest, largest and most successful commercial bank, offering the widest possible range of domestic, international and NRI products and services, through its vast network in India and overseas
State Bank of India
India's second largest private sector bank and is now the largest scheduled commercial bank in India
The Federal Bank Limited
Bank which started as private shareholders banks, mostly Europeans shareholders
Imperial Bank of India
The first Indian bank to open a branch outside India in London in 1946 and the first to open a branch in continental Europe at Paris in 1974
Bank of India, founded in 1906 in Mumbai
The oldest Public Sector Bank in India having branches all over India and serving the customers for the last 132 years
Allahabad Bank
The first Indian commercial bank which was wholly owned and managed by Indians
Central Bank of India

Bank of India was founded in 1906 in Mumbai. It became the first Indian bank to open a branch outside India in London in 1946 and the first to open a branch in continental Europe at Paris in 1974.

ICICI Bank

ICICI Bank is India's second-largest bank with total assets of Rs. 3,634.00 billion (US$ 81 billion) at March 31, 2010 and profit after tax Rs. 40.25 billion (US$ 896 million) for the year ended March 31, 2010. The Bank has a network of 2,016 branches and about 5,219 ATMs in India and presence in 18 countries. ICICI Bank offers a wide range of banking products and financial services to corporate and retail customers through a variety of delivery channels and through its specialised subsidiaries in the areas of investment banking, life and non-life insurance, venture capital and asset management. The Bank currently has subsidiaries in the United Kingdom, Russia and Canada, branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre and representative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our UK subsidiary has established branches in Belgium and Germany. 

ICICI Bank's equity shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).