Dr. Nikhat M Hamza – Director-HR, Presidency University
Certified Thomas PPA Practitioner! basically, she has 2 decades of experience in various senior positions with industries like Drip Irrigation, Automobile, Casting, Software, and Education. Working as Director HR & FTA
She is playing a vital role in Organization Transformation, Organization Development, Recruitment, Appraisal, KPI, training, Payroll, onboarding, exit formalities, Labour Law, research improvement, organizational behavior, employee engagement, retention policies, Data analytics, Conflict management. Worked with UGC, NAAC, NBA, NIRF, IQAC. She is also authored one book “Corporate Sweet & Salt” available on kindle and recipient of the Sushma Swaraj Stree Sakti Award 2020.
The office is our second home. We spend years together more than nine to ten hours daily. This is the second home for professionals. They get connected emotionally and professionally while working. It is natural to have a difference of opinion among the members. This many times also leads the employee towards the decision of quitting. The employer feels like the employee has betrayed them. Actually, many times it is not that they have betrayed the management, it is a circumstantial decision.
Departing is not good, hence instead of taking it negative make it very smooth and happy, lets’s say we think it in a positive way, the employee joins some other organization where he will learn new things, but at the same time he/she will realize what was good in previous organization and organization will get a chance to know about the work of the employee.
Employees are your brand ambassador the word of mouth spread through them leave an image in the market. Take care of your employee they will take care of you and your company. Companies who take the resignation of employees as betrayal, lose their efficient employees forever because then employees will never feel like returning.
If you do not wish to lose your employee address their issues immediately whether small or big, sometimes small issues also force people to take big decisions. Don’t think they have betrayed you, think about why they had to take this decision and what went wrong. If they are good performers counsel them and try to retain them. Even if they do not change decisions, you will make a permanent impression about “you care for them” this will always keep your employees connected with you, they will care about the organization even after leaving the organization.
Whenever you have the requirement, make sure you try calling your ex-employees if they wish to return back, it will give positivity to your existing employee that their work is valued, they are valued in addition to this the ex-employee will not only save the cost of hiring he will bring in many new ideas. There is the scope for new collaborations, business & exchange of ideas when you remain in touch with your ex-employees. Your employees should feel accepted as members of the family, employees want to feel belongingness in the workplace, and creating a sense of belonging in the workplace leads to greater on-the-job effort and improvement in the performance of the employee. You just have to involve them make them part of the team bring everyone together and tell them we care for you. Assure them no matter whatever problems or issues they have Heads & HR to address them, they will be treated unbiased and equal.
There are many factors
After covid, there have been a lot of changes in the behavior of the people earlier their professional life was important for them now it is their personal and social life. Having flexible HR policies keeps the work culture light at the same time it should not hamper productivity. Not everyone works for many, few may be working for self-respect those few are assets of the organization.
Changes in the human behavior of the people are impacting the working culture, HR has to come up with all new ideas and regulations, and understand their people. Convey the employees that doors are always open for them and keep connected with them. Like student alumni association is important same way HR alumni association should be important with their employees.
Maintaining harmony in the organization is very important for good productivity & positivity this should be both way employee & employer.
Everyone who has joined the bond to leave one day, we just have to accept in a positive way and keep things smooth.
Professor of Finance, Department of Commerce, B S Abdur Rahman Crescent Institute of Science and Technology
Introduction
There are three elemental and essential human beings’ needs to live in this universe: food, clothing, and shelter. Though food and clothing satisfy physiological desires, shelter meets the need for safety and security. The need for housing is an ever-expanding one in the present situation. With the rising incomes, better educational facilities foremost to sophisticated types of living and growing population, need for homes, relatively better houses are touched progressively. Circumstances are not being denied because the eminence of life of the people depends upon the excellence of housing amenities available to the people. People’s economic well-being is consequential by robust and hygienic housing situations.
The popular enactment of the National Housing Policy of the Central Government and Reserve Bank of India has been helping the movement of credit to the housing finance sector. Subsequently, housing has emerged as one of the sectors attracting huge importance to bank finance. The current focus of RBI’s regulation is to safeguard arranged growing of housing loan portfolios of banks.
Economic Growth in the recent scenario
Recent scenario, for India to reach balanced economic growth, it is indispensable to increase construction activity in the housing sector. Subsequently, Independence growth in the Indian population has intensified the problem of housing for Indian inhabitants. Conferring to the population census of 2001, out of the total population of 1027 million, around 742 million people live in some rural areas, and 285 million live in urban areas. The urban populace accounted for 27.8% of the whole population, whereas it was 25.7% below the 1991 census.
Housing Finance
The government of India has taken a sequence of Initiatives for the growth of Housing and urban infrastructure. The National Housing and Habitat Policy 1998 accentuates “housing for all” by the end of 2007. The Government of India has been altering the housing sector into an engine of economic growth over functional policies and a mass of initiatives with the extension of assistance u/s 80 I to figure housing schemes, arguing of Urban Land Ceiling Act, improved rebates for housing loans, increased depreciation for employee housing, lower interest rates, securitization of housing loan, etc.
Impact on housing finance during the Covid-19
Housing sector development will be seriously impacted and is not likely to resuscitate till the economy displays any sign of development. Pressure on housing loans, predominantly affordable housing loans, will increase.
No one knows when the coronavirus disaster will end. Nations are rushing to find ways to comprise the spread and find a cure as economists and policymakers attempt to assess impairment from the pandemic, whose impact on the world’s economy is supposed to be poorer than that of the 2008 global recession.
In India, one of the sector’s maximums affected by the outbreak and the subsequent lockdown is real estate and housing finance. Earlier, we looked at the impact of the crisis on the housing sector. Let’s realize how the sector had been done before the pandemic.
The go-slow in real estate and housing finance initiated after the IL&FS crisis, the liquidity crunch in housing finance firms, and non-banking financial companies (NBFCs) impacted construction happenings. Things better slash after the government and the central bank interfered. Housing finance did not pick up as probably due to low demand as the economy reduced post the 2020 financial year Budget. There is a huge unsold housing inventory piled up completed the past four years in nine major cities.
The government acquired a slew of measures to resuscitate the economy and the real estate sector by setting Alternate Investment Fund of ₹25,000 crores to offer last-mile funding to near 1,600 stalled projects at different stages, increasing Income tax exemption on housing loans of ₹ 2.5 lakh to ₹ 3.50 lakh for inexpensive housing, and countless other measures to the improvement of supply and demand.
Whatsoever noticeable uptick the measures had brought around has been wiped out by the coronavirus pandemic. The economy of all sectors is badly successful with immediate high influence on domestic service sectors such as tourism, aviation, hospitality, small business, retail, auto/taxi, food, and beverages, etc.
The government of India has taken adequate steps to comprise the spread of the virus. It has also proclaimed immediate support for farmers, building construction workers, and migrant laborers from different parts of India—most impacted by the lockdown and the economic standstill.
Smooth if the lockdown is boosted, the economy will take ample time to get back to normal. Here there is bound to be massive unemployment successful onward. Despite its tight fiscal position, the government is likely to declare another package for numerous sectors, but there is no supplementary way out.
The complication of the Real Estate sector
In India, the financial sector will be the most hit due to complications in the real estate sector. Non-performing assets are set to increase, and liquidity will be poorly hit. The Reserve Bank of India (RBI) took extraordinary steps, proposing to infuse ₹ 3.74 lakh crore liquidity done a cash-reserve-ratio cut of 1%, beset long-term repo auction, marginal liquidity capability, a deep repo rate cut of 75 bps, and further prominently permitting a three-month moratorium on all-term loans and working capital. This will provide a break to all those borrowers whose cash flow was impacted due to Covid-19. Banks and financial institutions, and HFCs/NBFCs will be bright to defer non-performing assets appreciation.
Growth of the housing sector
Housing sector growth will be heavily obstructed and is not likely to recover till the economy demonstrates any sign of improvement. Strain in the housing loan, particularly in reasonable Housing, will rise. Establishments that have large exposures to small businesses and informal sectors will see little complex stress for a few months due to a fall in demand and the declining ability to repay. Nevertheless, many small businesses serve the common man and henceforth have more flexibility to revive soon as the situation gets regular.
Also, it depends on how dissolute workers who have gone back to their villages return to work. General, housing development in 2021 will be like the year 2020, and more depends on coordinated with RBI and the government of India. The repo rate cut of 75 bps has completed home loans from banks ample inexpensive.
Property tariffs are also expected to be cut by developers by 10% – 15%, hereafter the demand for Housing by Organised segment employees for houses of ₹ 25 lakh to ₹ 75 lakh is expected to recover soon after once the lockdown ends. But, low-income affordable housing demand will take slightly more time and will depend much on government sustenance.
Conclusion
Individuals who determine this housing sector will find it tough to manage their own contribution, which has now become more problematic. The government pinches the present procedure for the release of applicable credit-linked subsidy to known beneficiaries through lenders before loan distribution. The modification will revive affordable housing growth as imagined in Housing for all by 2022.
By Manoj ViswanathanChief Executive Officer and Managing Director Home First Finance Company Jun 30, 2020. https://www.99ac res.com/articles/the-impact-of-covid-19-on-housing-finance.html
Ashwani Kumar Bhalla, Dr. Pushpinder Singh Gill and Dr. Parvinder Arora “Housing Finance in India: Development, Growth and Policy implications” PCMA Journal of Business, Vol.1, No.1 (December, 2008) 51-62
Department of English at Sri Malolan College of arts and science, Madurantakam, Chennai
THE TIGER’S DAUGHTER
ABSTRACT
The main concern of Indian women’s literature is the depiction of women struggling for liberation and facing mental states. Conflict is an inevitable part of human life, and human values make a difference in nature. These variations usually make a violent turn. The composition of violence is complex, elusive and multifaceted. Bharati Mukherjee has endeavored to track conflicts and, as a result, the consequences of mental changes in Indian women, especially migrant women, that occurred during the conflict. Her fiction and short stories explore the conflicts women face while fulfilling their ancient roles as women’s descendants, wives, and mothers. Bharati Mukherjee is a Diaspora writer, she deals with the typical indigenous scene, shows in her fictional book The Tiger’s Daughter the image of a woman struggling to remain unharmed in a foreign land. In this post, we’ll explore how Mukherjee deals with her psychological tensions and realistically portrays the reaction and consequences of tensions in her life with her protagonist Tara. She reveals the problem of expatriate female Tara and offers them a completely new approach in her novel. The purpose of this article is to examine Bharati Mukherjee’s portrayal of the psychology of immigrant women and a deep understanding of their problems in her protagonist Tara.
Bharati Mukherjee is a proponent in expatriate writing. She is an Indian settled in America. The Tiger’s Daughter is the narrative of a rich industrialist’s pampered daughter Tara who returns to Calcutta in search of (lie Indian dream after seven years of stay in the U.S. And is unable to fit into the culture of Calcutta, where she grew up and she finds that she is as much of an alien at home as she was abroad. Though the desire to become a part of her new milieu is strong, Tara’s attempts appear very superficial. Tara is not yet accustomed to American culture and finally remembers her fairy-like childhood days in Calcutta. She feels homesick and plans a visit to her native land. On her arrival in India, Tara finds herself in a strange situation. She confronts a world totally different from the one she had left behind [Nithyanandam 67].
The First stepping on the land of India at Bombay fills her with disappointment. Bombay is the same but her outlook has changed. To her, Bombay railway station “was more like a hospital, there were so many sick and deformed men sitting listlessly on bundles and trucks’”. [TD 19] Her sickness and the situation in India make her think about her husband, David. The thought of her husband symbolically suggests the second self-developed in her. It seems that an alien land has become more of a home to her. She repents having come to India without her husband and she is unable to keep him off her mind. The mood of repentance in Tara is evident: “Perhaps I was stupid to come without him, she thought, even with him rewriting his novel during the vacation. Perhaps I was too impulsive confusing my scare of New York with homesickness. Or perhaps I was going mad”. [TD 21]
Tara’s voyage from Bombay to Calcutta brings an equally disgusting experience to her. In Calcutta too, she encountered everything changed and deteriorated. Now, she finds Calcutta is under the grip of violence due to riots, caused by the confrontation between different classes of society. This shatter I dream of Calcutta and make her react in a negative manner. She fails to bring her old sense of perception back and is appalled by the ugliness of the city of Calcutta with its poverty, squalor, disease, and Vanity. She discovers strangeness in her friends and relatives and finds it difficult to cope up with a world which relents her.
Tara finds herself a misfit everywhere she goes. With her dangling personality, she tries to look Indian and adjust with her friends, but there is an invisible gap between them and she feels the breakdown. She is forced to look at her inner world consisting of two cultures and the two different ideologies, which are the two worlds wide apart. Realizing that harmonization is impossible, Tara senses to go back to David. The novel ends with the heroine caught in a bloody riot of Calcutta wondering, whether ever she would be able to go back. Tara sits locked in a car watching helplessly as an old friend is beaten to death in a riot, she is in the middle of a street full of angry rioters, she sees her husband’s view of Calcutta as apocalyptic: “the collective future in which garbage, disease, and stagnation are man’s estate” (TD 190).
Though Mukherjee has refused that the novel is “based on any real person” and has declared that “the novel wasn’t autobiographical” [1987 interview]. There are many autobiographical instances in it. Bharati Mukherjee remained in graduate Tara’s voyage from Bombay to Calcutta, brings an equally disgusting experience to her. In Calcutta too, she encountered everything changed and deteriorated. Now, she finds Calcutta is under the grip of violence due to riots, caused by the confrontation between different classes of society. This shatter I dream of Calcutta and make her react in a negative manner. She fails to bring her old sense of perception back and is appalled by the ugliness of the city of Calcutta with its poverty, squalor, disease, and Vanity. She discovers strangeness in her friends and relatives and finds it difficult to cope up with a world which relents her.
Tara finds herself a misfit everywhere she goes. With her dangling personality, she tries to look Indian and adjust with her friends, but there is an invisible gap between them and she feels the breakdown. She is forced to look at her inner world consisting of two cultures and the two different ideologies, which are the two worlds wide apart. Realizing that the harmonization is impossible, Tara senses to go back to David. The novel ends with the heroine caught in a bloody riot of Calcutta wondering, whether ever she would be able to go back. Tara sits locked in a car watching helplessly as an old friend is beaten to death in a riot, she is in the middle of a street full of angry rioters, she sees her husband’s view of Calcutta as apocalyptic: “the collective future in which garbage, disease, and stagnation are man’s estate” (TD 190).
Though Mukherjee has refused that the novel is “based on any real person” and has declared that “the novel wasn’t autobiographical” [1987 interview]. There are many autobiographical instances in it. Bharati Mukherjee remained in graduate school to complete an M.F.A and she met and married Clark Blaise. Tara Banerjee, the protagonist of The Tiger’s Daughter, is modeled in her homesickness on Ranu’s experience at Vassar, but her might to endure that anguish, go to “Madison” for summertime school, meet and marry the young American David Cartwright, bear two sons, live at 124th street at Broadway, and go back after seven years, is drawn out of the stuff of Bharati Mukherjee herself (Nelson 5.8).
New York was certainly extra-ordinary and it had driven her to Despair. On days she had thought she could not possibly survive, she had shaken out all her silk scarves, ironed them and hung them to make the apartment more “Indian”. She had curried hamburger desperately …… She had burned incense sent from home.
[TD 34]
However, all these attempts fail to make her feel at home. Yet, soon after her return to India, she finds that she does not fit into the old life of Calcutta which she had left seven years ago and for which she had yearned when she was at Poughkeepsie. Her group of friends now irritates her with their lack of seriousness and “she felt very distant from the passions that quickened and outraged her class in Calcutta” [TD 55]. Though Tara meets her friends regularly at the Catelli-Continental, she “was startled at their bounder tremendous capacity for surfaces” [TD 42]. Though her friends are curious about her life in New York, they only wanted to know the superficial, external details. Ironically, Tara accuses her friends of lacking depth which is clearly absent in her too. Tara thinks of her friends as bringing, “,,..sharing of her personality. She scared their tone, their omissions, and their aristocratic oneness. They had asked her about the things that she had brought back and had admired her velour’s jumpsuit and electric-shaver, but not once had they asked about her husband” [TD 43].
Seven years in the U.S. Has made it impossible for Tara to sense at ease with her close circle of playmates. The American experience has secluded her from Indian life and culture. Tara wonders: “How does the foreignness of the spirit begin?” (TD 37) for even the familiar David now appears unfamiliar to her. “He seemed like a figure standing in the shadows, or a foreigner with an accent on television…. She felt she was not married to a person, but a foreigner and this foreignness were a burden” [TD 621. On her arrival at Calcutta, she is met with great affection and excitement. The celebrations around her make it difficult for her to even “think of the 120th street, apartment as home”(TD 63). Distance makes everything abroad and unreal to her. Her walk along the ghat and her visit to Tollygunje prove that she is totally out of touch with the real Calcutta. All through her Childhood, Tara has been undetected to the reality of Calcutta, life. For her, Calcutta just meant living in a huge house on Camac Street, going to school at St. Blaise, seeing movies at the Metro and how whiling away her time at the Catelli-Continental, drinking endless cups of tea and listening to the armchair politics, industrial unrest and increasing crimes. Even when she is surrounded by friends and relatives, she feels totally isolated and completely alone. By not being able to fit back into Calcutta society, Tara realizes that she is a misfit at both places. She is always troubled by nostalgia for the life that she left behind and this leaves her in a Catch-22 situation.
The Tiger’s Daughter
In Calcutta, people think of her as being too American: Reena’s mother calls her “Americawalli” (TD 151). Aunt Tharna’s quietly violent response to Tara’s innocuous suggestions can be seen as a paradigm of the response many Indian critics have had to this and other Mukherjee books on India and Indians. Aunt Tharna rebukes Tara thus: “you’ve come back to make fun of us, haven’t you? What gives you the right? Your American money? Your Meccha husband?” (TD 36). The Tiger’s Daughter upsets Indian critics greatly. They seem to share the reaction of Tara’s east while schoolmates who feel she has polluted herself beyond redemption by her foreign education and Meccha marriage (Nelson 9).
While Tara falls in love, at first sight, with a Youngman in an elevator and has a wedding “with no invitations, no priests, no fires, no blessings” (TD 125). Being married to a foreigner does not immediately broaden Tara’s horizon for she finds that she cannot explain or discuss many ideas with him. Even in her letters to David, she does not give her own feelings. David fails to understand many aspects of her life because, he expects everything to have some meaning or point and asks: “why three baths for a day for god’s sake?” (TD 48). In failing to understand her, David shows the distance that has still to be covered between the two cultures. By reading books on India, he cannot comprehend her country and she is convinced that if “he had not understood her country through her ……… probably he had not understood her either” (TD 50).
Mukherjee’s protagonists differ in their perception of their roles in society or their expectations of Life. Tara considers her marriage to David as an emancipated gesture but realizes that emancipation presupposes a bondage which she is not willing to accept. From being a dutiful daughter or the Bengal Tiger, she wants to become a dutiful wife in the traditional mould. She wants to be appreciated by David and is most wary of his comments or criticism. Her correspondence with David does not follow “any pattern of confession, reproof or rebuttal” (TD 131), though he often, “accused her of stooped inanities and callousness…” (TD 131). Inspite of her seven -year stay in abroad, Tara has not matured into an individual with a mind or identity of her own. She does not possess the strength required to protect herself from people like Tuntunwala. Her experience with him emboldens her to a great extent and makes her decide to return to David, like a child running back into the protective arms of an adult. Tara is certainly not one of the emergent women of modern fiction. To her, father in childhood and a husband in later life are essential as protectors. She exemplifies Manu’s dictum: “pita rakshati kaumarye/ bharta rakshati yauvane” (Manusmriti qtd in Nithyanandam). She has not been able to develop an individuality of her own, different from the traditional roles of woman as daughter and wife. This immigrant does not adapt herself to suit the conditions of the land of her choice and continues to be rooted firmly in the traditional mould.
Tara goes home to assess herself to see whether she can rediscover herself in her birth tradition and to understand how much she belongs and in what manner she is different. Though the central character, Tara has married an American and settled in New York, the novel is set entirely in Calcutta and is concerned almost exclusively with Tara’s attempt to come to terms with the fact that she can no longer connect to the city of her birth or find it as her home. Besides the theme of migration in The Tiger’s Daughter, Tara has also realized that by settling in America and marrying there, she had cut herself adrift from Calcutta and the people she had grown up with.
Tara is an expatriate not only in space but also in mind and spirit. She exhibits the expatriate trait of being uncomfortable in both her own and foreign cultures. She represents the dilemma faced by the expatriates. The critic Sivaramakrishna says about Tara that the “retention of her identity as an Indian is in constant tension with the need for its renunciation, if she has to acquire a new identity as immigrants” (Nelson 60). According to Rustomjikerns, in the novel, Mukherjee presents, ” some of the more violent and grotesque aspects of cultural collisions” (Nelson 63) and according to Jain, “Mukherjee’s novels are representative of the expatriate sensibility” (Jain 42).
Despite having a decent life with an American husband, Tara does not assimilate in American cultural milieu. Estranged by the ‘half-remembered’ and ‘half-forgotten’ rules of her old world, she struggles hard to feel at home in India but fails miserably in her attempt. Her failure to tie a knot with her ‘patria’ is enough evidence of how far she has traveled from her roots. She has an ‘unstable’ self which does not allow her to settle at one place.
Expatriation is not only a key issue in this story, but it also serves as a metaphor for deeper kinds of alienation, such as existential alienation and self-estrangement. This is revealed in some significant images used in the novel. In this novel, Hotel Cattelli Continental, described as the “navel of the Universe” (TD 3) becomes the important symbol of a rootless existence, a symbol of Tara’s expatriate sensibility.
The Tiger’s Daughter is a film that depicts a woman who returns to her birthplace after a period of self-imposed exile. Home will never be home again for such a person, and life in exile, harsh as it may be, will be preferable to what home has become. The discovery that Tara makes at the end of the novel is that the greenery and the forests she had associated with the India of her childhood-her vision of pastoral-were no longer there, something or the other “killed” them (TD 207). In New York she had dreamed of coming back to Calcutta, but “the return had brought only wounds” (TD 25).
The greatest irony in Tara’s story is that she survives racial hardships while attempting to survive in a new country, but nothing bad occurs to her. She becomes a victim of her tragic end in her native soil in her home, which she had longed to see during her stay in New York, and where she comes to seek peace. Her desire to find a place to live and have security, which she missed in New York, ends ironically in frustration. We’re left with the irony that Tara, an Indian-born young woman, feels more love and comfort in the arms of her American husband.
Conclusion
The Tiger’s Daughter by Mukherjee examines the experiences of an Indian expatriate and an American immigrant. It provides a powerful new voice in diasporic literature, one that comes from an Indian lady who immigrates to the United States and redefines her ties to her motherland.
Having been uprooted from her native soil through an accidental affair with a man of different roots, Tara, like her creator, dangles between her rest while homeland and her newfound homeland. It is like choosing the better of the two eyes. Tara faces this predicament for a time, gets confused and finds herself on a no-man’s land. However, experience on both the soils helps her use the better part of her discretion and finally plumps for the newfound homeland for reasons known-duty, security and practicality.
References
Alam, Fakrul. Bharati Mukherjee. New York: Twayne Publishers, 1996.
Baldev Vaid, Krishna. Rev. of Wife, by Bharati Mukherjee Fiction International. 1915: 4-5.
Barrett H.Clark. “Time of Need”. Forms ofImagination in the 20th Century. New York : Harper, 1994.
Brennan, Timothy. Salman Rushdie and the Third World: Myths of the Nation. London: Macmillan,
Carb,Alison B. “An Interview with Bharati Mukherjee.” Massachusetts Review 29, 1988.
Department of English at Sambhram University, Jizaxx, Uzbekistan.
SOCIAL REALISM IN TONI MORRISON’S TAR BABY
Abstract
Toni Morrison is one of the most significant modern American writers, having published nine books. Among her early works, Tar Baby, her fourth, has obtained great notice. It is “the least admired, researched, and taught” of all the sciences (Pereira 72). There could be two reasons for this: To begin with, the narrative does not solely focus on the experiences of African-Americans. Unlike Morrison’s other pieces, Tar Baby includes a lot of background of a white family. Morrison investigates the experience of the retired white man, Valerian, his wife, and his son with the same consideration as the black young man and woman, Son and Jadine, who are considered as the book’s main protagonists. For critics looking for a story with a totally “black style” to illustrate Morrison’s originality, a work with a lot of attention is a good place to start. Morrison’s style of emotional writing has kindled the readers mind to certain facts like cultural conflicts, racism and so on. Lack of self-identity and life in between the white and black culture portrayed through Jadine Childs, the central character has created a kind of confused uncertainty among Morrison’s readers. Like all her novels Tar Baby is suffused with Morrison’s racial quest enriched with psychological and emotional move.
Key terms: colonization, cultural conflicts, racism, self-identity, psychological
Tar Baby is the fourth novel of Toni Morrison and it deals with social realism. The principal characters in the novel are jadine childs, an Afro-American model, William Green (Son) an Afro-American wander from Eloe, Florida, Valerian Street, a rich retired white industrialist from Philadelphia: Margaret Street, a rich retired white industrialist from Philadelphia: Margaret Street a beauty queen from Maine who married the much elder Valerian, Sydney Childs, an Afro-American domestic employee of the Streets: On dine Childs, Sydney’s wife and even she is an employee of the Streets: on dine Childs, Sydney’s Wife and even she is an employee of the streets and few other locals Gideon, Therese and Alma Esteem respectively.
Toni Morrison
Jadine Childs, who is orphaned at twelve years is taken by her aunt and uncle on dine and Sydney Childs. Their employer Valerian Street helps Jadine to go to private schools and because of this upbringing she experiences a conflict between the white Society in which she is entrenched, and the black culture represented by her uncle and aunt and son whom Jadine love. She refuses to submit to the traditional image of womanhood which on dine and Son want to impose upon her. At the end of the novel, we see her returning to Paris determined to face her fears alone. Tar Baby traces the quest for Self-identity Jadine Childs the Protagonist. She doesn’t rebel against the White, she is enmeshed. But she has accepted and embraced the white culture without any question. Because from her age of twelve she had severed her Afro-American heritage due to the death of parents. The same way her uncle and Aunt expanded the gap by sending her to exclusive private school and to Sorbonne where only Whites are in majority. The adult Jadine is fully equipped to face the white world successfully. She becomes a part of it too. The only thing that disturbs her is the Afro-American world represented by nightmares, disagreements of son and the feeling of otherness that haunt her in Sons’ hometown Eloe, Florida.
Morrison in this book Tar Baby depicts the struggle of an Afro-American Woman who tries her best to keep her identity and individuality despite the effects of her lover who wants to make her like the other woman of his childhood. Like her aunt who too wants to cheer her in the past and her white industrialist, who wants to cheer her to the white industrialist, who wants to blind her to his world. The most complex character in the novel is that of the protagonist Jadine. She is caught between two cultures. She has gratitude towards her aunt and uncle for their help as well as the Streets for giving her Education, but she does not equate her gratitude with duty and some readers find fault with her. Jadine refuses to see herself as an Afro-American first or even as a Woman. She tries to establish closeness with her aunt and also to protect. Valerian’s world. Woman of her past and of son’s past haunts her and they try to draw her towards her own self. Society does not support anyone who wants to come up in life. The black society wants Jadine to be like them and the white Society doesn’t accept her whole happily for the only reason that is she is a Black.
The Prices she compensates for sticking on to herself is very high. She loses son’s the relationship with Ondine’s weakens and she does not have Valalerien’s help too. She flies off alone and determined. Some might see this as a defeat, but Morrison’s story of the Soldier ants narrated in the novel’s end says that the queen ant is the dominant force, and this reveals Jadine’s power and strength giving possibilities rather than defeat.
Morrison says that polarized thinking is effective and dichotomous thinking is ineffective for living in the real world. When a person is defined as black or white, male or female, educated or uneducated limit the individuals capacity individual’s must rely on the authority within themselves and then they can organize their world and their understanding of it. Like her other novels, 0 even in Tar BabyMorrison analyses and gives a verdict of the society and the roles Afro-Americans play in that society. Morrison creates strong characters and unveils these characters’ struggle to realize their strength in -spite of external and internal barriers.
The title of this novel evokes a comparison to the famous story of the same name. The fable of Brer Rabbit has many versions and in one, he is caught by the Tar Baby when he comes to steal cabbages from a garden. He succeeds in freeing himself and escapes to the famed briar patch. The Tar Baby is formed by Brer Fox to capture Brer Rabbit. Jadine and Son are considered tar babies because both of them have an irresistible attraction towards each other and this brings their downfall. Jadine soon recovers and is transformed from “tar baby” to a trickster and in that she lands in the briar patch of New York and later in the briar patch of Paris. Even though both of them have the traits of the Tar Baby still Jadine gets more acclaim due to her power and control over the relationship. Trudier Harris says that a close reading of Tar Baby will show that Son has much power and control than Jadine, because he shares more traits with Valerian than the victims who are caught in the traps with the master farmers. His unkempt state also could be compared to the black Tar Baby.
Each was pulling the other away from the maw of hell-it’s very ridge top.
Each knows the world as it was meant or ought to be. One had a past, the
other a future and each one bore the culture to save the race in his hands. –
Mama spoiled the black man will you mature with me? Culture bearing
black women, whose culture are you bearing? (Morrison, Tar 269).
The judgments are that the characters must be both. Mature and culture bearing or they are lost.
Tar Baby a mixture of serious, comic and even absurd qualities. The style is polished, elegiac, violent, poetic and even dramatically functional. The language of the uneducated as well as the language of the sophisticated are found with literary allusions. The novel is in bits and pieces as Morrison herself has said, but she succeeds in pulling this complex novel together by her extraordinary use of nature. On the whole, nature acts like an additional character in the story as complicated and important as a human protagonist. For example, animal life can observe, react and comment on the action Rivers are capable of deepest emotions, trees as seductive. as a lover, ants can marshal campaigns and swamps can grasp like rapists In the African vein, nature is fully alive, and it is not materially separated from human existence. A further sense of wholeness is- seen when nature is involved in the prologue and the epilogue. In the epilogue Son moves through water towards the island and in the prologue, he is urged by the water away from the shore.
The relation between racism, child abuse in a white American upper-class family is depicted in Tar Baby. Toni Morrison’s image of this novel is an apt emblem for capitalist formations. These developments have penetrated every available nook and cranny of social space and have thoroughly, if unevenly conditioned human psychology and social behavior. Like the Tar Baby, or the quicksand into which Jadine wanders on the Isle de Cheralien, the capitalist mode of production absorbs and birds all that it touches, ordering the ways in which we view ourselves and others, the ways in which we move, Speak and express ourselves in the seclusion of our own minds.
Social realism looks at society as it is and what it depicts if critical of the working of society. It moves towards reality and towards the victory of the international proletariat. The fact must be portrayed in all its actuality, the ugly as well as the wonderful. Realism sometimes sides with social action and this is evinced in Toni Morrison’s The Baby. Tar Baby is the truthful reproduction of typical characters under typical circumstances. This is true in the case of Jadine. Even though she doesn’t respect her heritage, she is not authentic too. The African woman who views Jadine spits at her recognizing her authenticity. Morrison portrays it truthfully and doesn’t side with Jadine even though she is black. So, this typical situation is produced truthfully, and Toni Morrison is not partial.
Toni Morrison is a complicated writer who masterfully blends together difficult concepts. “It is a simple story getting increasingly complex mythic, beyond Solution, yet teaching me a lesson I needed to know,” Barbara Christian writes about Tar Baby. As a result, Toni Morrison’s work highlights problems, but not solutions, that society should be aware of.
Toni Morrison
When reading Morrison’s novels, one is prone to look for a character with African American ancestry. The Son has been identified as such a figure in Tar Baby by the majority of critics. In Morrison’s later works, he illustrates black people’s affiliation with their original culture solution. Tar Baby symbolizes an essential period in which the writer acquires an understanding of the intricacy and ambiguity surrounding African American people’s desire of self-knowledge. Furthermore, Morrison expanded the concept of alienation with Son and Jadine’s story to include not just social and philosophical difficulties, but also race and gender ones. She has made a significant contribution to American literature in this way.
Reference
Beaulieu, Elizabeth Ann. The Toni Morrison Encyclopedia. Westport: Greenwood P, 2003.
Duvall, John N. The Identifying Fictions of Toni Morrison: Modernist Authenticity and Postmodern Blackness. New York: Palgrave, 2000.
Frisch, Mark. “Nature, Postmodernity, and Real Marvelous: Faulkner, Quiroga, Mal- lea, Rulfo, Carpentier.” The Faulkner Journal (1995–96): 67–81.
Department of Computer Application Integral University, Lucknow(U.P) Inida, Sambhram University Jizzax Uzbekistan
Mohd Muqeem2
Department of Computer Application Integral University, Lucknow(U.P) Inida
Introduction:
Bee Colony Algorithm
From past few decades, there rapid development of the advanced technology and IoT based sensor devices which resulted with an explosive growth in data generation and storage. The amount of data which is generated is constantly growing even exponential growing and thus cannot be predicted or even cannot find the hidden information traditional way. Indeed, many new applications producing this huge amount of data, especially those where users can write, upload, post and share a lot of data, information and videos, such as social media sites like Facebook, twitter, telegram, instagram where every second every minutes huge amount of image, video and data are post and shares . Accordingly, as mentioned in [1], it is approximately up to 45 Zeta bytes digital data we have up to 2020. In the Current information technology world, this huge amount and the massive volume of data with more attributes is called “High dimensional Big Data”. A lot of important frequent-pattern, meaningful information and valuable hidden pattern can be extracted from this huge amount of data, which help the organization for improving the business intelligence, decision-making, fraud detection etc. K-means clustering is a most important and powerful un-supervised partitioning machine learning techniques for division of this big data into homogenous group i.e. cluster [2][7][8].
There are lot of limitation of K-means in big and high dimensional data: it converges to the local optimal solution, no of cluster is to be defines in advance, initialization of clusters centroid, lack of quality of clusters [3]. We have proposed a hybridized K-means with nature inspired Artificial Bee Colony global optimization algorithm that resolve the limitation of K-means clustering.
Nature inspired optimization:
There are lot of Population-based meta-heuristic Evolutionary Algorithms (EAs) global optimization algorithms which are inspired by the natural behaviour of the population evolution such as Genetic Algorithm, Artificial Bee Colony (ABC), Artificial Ant Colony and particle swarm based intelligence algorithm.
Artificial Bee Colony
ABC is a global optimization met-heuristic algorithm which is inspired by the intelligent behaviour of honey bees. This algorithm is popular due to its flexible computational time. In our proposed method we use the ABC algorithm for the initialization and selection of cluster centroids [6].
This algorithm is executed in 4 steps as given below:
Initialization
Employed Bee
On-looker Bee
Scout bees
The objective function of Artificial Bee Colony (ABC) algorithm is designed as according to the optimal number of selection of clusters for K-means.
The population of ABC is initialized by equation 1. in which i=1,2,3,…….,BN, here BN defines the total number of food sources and value of j=1,2,3,………,D. D is the number of dimensions. The upper and lower bounds of the variable j is xmin,j and xmax,j.
Updation of the bees location is as given below
In above equation r ∈ 1, 2,3, ·····,BN and j ∈ 1, 2, ·····, D are indexes and Φ is a random generated number in between [−1, 1]. If new solution is better than old solution i.e. equation (2), than old solution will replaced by new one.
The of each solution is computed by where f iti is a probability fitness value of the i th solution. If fitness of new solution is higher than old solution than old will replaced by new solution.
Proposed methodology:
In our proposed methodology we hybridized the K-mean with ABC (ABK) comes up with the plan that K-means algorithm provide the new solution of scout bees in every iteration. The K-means generate the new solutions as according to the employed bee and onlooker bee steps. In this way we can get more optimized results. The new solution of K-means will be added in every iteration improve the accuracy for reaching ABC to higher level.
The new solution from the K-means is generated according to the solutions of the employed bee and the onlooker bee phases. This process may increase the chances of giving more suitable solutions for the optimization problem. The addition of new solution from K-means after every cycle may enhance the reach of ABC algorithm to a different level. Our proposed idea finds the fi values from the given below distance formula.
distance=min(ii,jj) (4)
The fitness function is the calculated be the given equation as the sum of all the distance i values.
In the above equation the population will be survived according to the better fitness otherwise it will reject [5].
TABLE 1[4] COMPARATIVE ANALYSIS BASED ON INTRA CLUSTER DISTANCE
Reference
Ilango, S. S., Vimal, S., Kaliappan, M., & Subbulakshmi, P. (2019). Optimization using artificial bee colony based clustering approach for big data. Cluster Computing, 22(5), 12169-12177.
Alam, A., Muqeem, M., & Ahmad, S. (2021). Comprehensive review on Clustering Techniques and its application on High Dimensional Data. International Journal of Computer Science & Network Security, 21(6), 237-244.
Saini, G., & Kaur, H. (2014). A novel approach towards K-mean clustering algorithm with PSO. Int. J. Comput. Sci. Inf. Technol, 5, 5978-5986.
Krishnamoorthi, M., & Natarajan, A. M. (2013, January). A comparative analysis of enhanced Artificial Bee Colony algorithms for data clustering. In 2013 International Conference on Computer Communication and Informatics (pp. 1-6). IEEE.
Bharti, K. K., & Singh, P. K. (2014, December). Chaotic artificial bee colony for text clustering. In 2014 Fourth International Conference of Emerging Applications of Information Technology (pp. 337-343). IEEE.
Enríquez-Gaytán, J., Gómez-Castañeda, F., Moreno-Cadenas, J. A., & Flores-Nava, L. M. (2020, November). A Clustering Method Based on the Artificial Bee Colony Algorithm for Gas Sensing. In 2020 17th International Conference on Electrical Engineering, Computing Science and Automatic Control (CCE) (pp. 1-4). IEEE.
Alam, A., Rashid, I., & Raza, K. (2021). Application, functionality, and security issues of data mining techniques in healthcare informatics. In Translational Bioinformatics in Healthcare and Medicine (pp. 149-156). Academic Press.
Alam, A., Qazi, S., Iqbal, N., & Raza, K. (2020). Fog, Edge and Pervasive Computing in Intelligent Internet of Things Driven Applications in Healthcare: Challenges, Limitations and Future Use. Fog, Edge, and Pervasive Computing in Intelligent IoT Driven Applications, 1-26.
Decision-making problems for better competitive advantage and long-term planning of businesses hinge on the ability to effectively and efficiently manage the organization’s goals. Having a well-defined plan is important to the long-term viability of any firm, and without one, one is doomed to failure. As a result of globalization, businesses have had to adapt their strategies in order to ensure their long-term viability in international markets. Do the following, and you’ll have an effective strategy?
Set clear goals for the organization and provide detailed plans for how to achieve them with concise and tactically complete guidelines.
It is the process of selecting, prioritizing and aligning activities related to creating high-quality, assigning resources to strategic projects, and coordinating to accomplish pre-defined outcomes that constitutes strategic planning.
A well-thought-out strategy identifies who is responsible for what, when, and how in order to achieve the desired outcomes.
Strategic planning enhances communication and commitment by revealing the vision and answering abilities of the company, which in turn increases alignment for all organizational operations and fosters commitment at every level.
A strategy provides a framework for making future decisions
It is imperative that business leaders have a superior strategic plan that sets a master strategy that will define the company’s future trajectory. Strategic plans must be translated into precise goals through tactical planning, as well as operational plans for day-to-day operations, but it is also necessary to keep up with industry trends. In order to achieve progress toward long-term objectives, a leader must have both a daily plan for getting things done and a comprehensive strategy to guide those daily plans. Because predicting the future is unaffordable, having a solid strategy in place is critical.
Leadership
A headship working style emphasizes the importance of both process and people. Is the way a leader conducts themselves important? The leader should ponder something of substance. Is there a better method to do a task? For corporate leaders, this is a big stroke of faith, but they must first ensure that their managers are involved in the correct processes before embarking on this journey. Almost all procedures are important, but those that have consecutive qualities that are frequently adopted are directly linked to cost control or customer satisfaction and corporate growth. The planning procedures that allow businesses to stress their resources and examine their prospects of success are critical to success in most enterprises, but they are frequently not focused on appropriately. Planning procedures, for example, require a thorough awareness of the situation (both within and outside), as well as a structure that facilitates the development of that understanding. The second stage in the basics of leadership is a method for putting that thoughtfulness into practice in order to successfully develop plans and campaigns, guidelines and standard operating procedures, push for outcomes and building connections with the people. This leads to new ideas and creativity. When it comes to determining the quality of a product or service, understanding the process behind how it is created is critical. Success may be designed by the organization if the leader focuses on the correct procedures in the correct fashion.
The third stage focuses on integrating the organization’s cultural values into the workforce, which is critical from a business perspective. An organization’s beliefs and values, resource distribution and reward, relative diversity and a sense of ownership all contribute to the culture’s overall strength. Companies that go above and beyond strive to create and maintain a work environment where their employees feel valued and inspired.
The results of a ‘Deloitte’ survey can be seen in the numbers. Executives and employees alike believe that a distinct workplace culture is critical to a company’s long-term success. 83 percent of executives and 84 percent of employees believe that having engaged and motivated employees is the most important factor in a company’s success. Workers who say that they are “happy at work” and feel they are “valued” by their employer are linked to those who say their organization has a clearly defined and lived culture. 70% of Americans place more importance on “cultural aspects” than they do on their salary. The company’s culture is most heavily influenced by its crew leaders. According to 81 percent of hiring managers, employees are less likely to leave an organization if they are a good cultural fit. Robert Walters (Robert Walters). Employees in the United States and the United Kingdom place a high value on company culture, according to a survey (Speakap). A fourfold increase in revenue can be attributed to companies with strong cultures. (Forbes).
The final step is the leader’s ethical dimension. A company’s moral performance can be measured through the use of ethical metrics. Ethical leadership has a positive impact on the culture of a business and on its public image. A strong ethical leadership foundation can be built by business leaders who want to influence their organization’s culture internally and externally. Organizations that are successful and well-respected require leaders who are morally upright. One Ethics and Compliance survey Initiative of more than 5,000 American employees across a variety of industries found that employees who saw signs of active communication and workplace trust were 15 times more likely to believe that their organization intentionally measured and recognized ethical behaviour. Leaders play a critical role in establishing and enforcing organizational values
References
Harris Interactive surveyed 1,005 U.S. adults (aged 18+, employed full-time in a company with 100+ employees) and 303 corporate executives on a number of questions related to culture in the workplace.
Walters, R. (2017). Diversity and inclusion in recruitment. Robert Walters.
Donaghey, J., & Reinecke, J. (2018). When industrial democracy meets corporate social responsibility—A comparison of the Bangladesh accord and alliance as responses to the Rana Plaza disaster. British Journal of Industrial Relations, 56(1), 14-42.
Gini, A. (1998). Moral leadership and business ethics. In J. B. Ciulla (Ed.), Ethics, the
heart of leadership (pp. 27–46). Westport, CT: Greenwood.
Ciulla, J. B. (2003). The ethics of leadership. Belmont, CA: Wadsworth/Thomson Learning.
Hagia Sophia: Many Jumma namaz and Sunday services had passed over those stones. Now from daily exhibition to mosque again. The world keeps changing.
Hagia Sophia was built for the first time in the 4th century AD. After it was built for the first time, it was destroyed a lot. The current look of the building was built in 562 AD, during the reign of Emperor Justinian I (Brooks, 2001; Taranto et al., 2019). The emperors of the Eastern Roman Empire ordered the construction of enormous structures in Constantinople the capital of the Eastern Roman Empire, and the city grew rapidly. This building also had a series of serious issue before it converted into Mosque, but the notable one was the collapse of 1346, which led to the building being closed until 1354.
Constantinople is the former name for Istanbul, given by Constantine the Great. Istanbul was known as Constantinople from 330 AD to the capture of the city by the Turks in 1453.
Source: Encyclopedia Britannica, Inc. (Teall, 2021)
Hagia Sophia, Turkish Ayasofya, Latin Sancta Sophia, also called Church of the Holy Wisdom or Church of the Divine Wisdom
Before converted into the Mosque by Mehmed II in 1453, the Hagia Sophia remained the centre of Greek Church around 900 years. It was at this time when the Ottoman Turks took control of Constantinople and converted its largest church into the city’s principal mosque. Apa Suphea was the name given to Santa Sophia (Mukherjee, 2021). Mehmed erected a minaret and subsequent sultans installed three more, so there is now one at each corner, but the interior remains largely as it ever was (Darke, 2020). In 1573 the great Ottoman architect Sinan was commissioned to strengthen Hagia Sophia, which was again starting to show signs of possible collapse. Extra buttressing was added to the outside to ensure its resistance to earthquakes. In total, 24 buttresses have been added over the centuries to ensure its stability, making its external appearance quite different to how it would have looked originally (Darke, 2020).
Hagia Sophia
It persisted for hundreds of years in its new form. It became a symbol of ambition for those who looked at it from afar. The Ottoman Empire was crumbling, and Russia was rising in the nineteenth century. Russia was a big country, but it was also a closed one, with no warm-water ports anywhere in her vast territory. As a result, she was envious of Constantinople’s beauty.
Apart from that, there was a spiritual and cultural pull. The Russian czars (the ruler of Russia until the 1917 revolution) regarded themselves as successors to the Eastern Roman emperors and desired to restore their dominance over their ancient city. Both were followers of the same religion, the Orthodox Greek Church, centred on the famed Santa Sophia. It had formerly been a mosque. How is that tolerable? The Greek Cross, rather than the Islamic Hilal or crescent, should be emblazoned on its dome.
Czarist Russia began to grow towards Constantinople over time. After England and France raised barriers, resulted in war, and Russia’s march was halted for a while. Finally, the Great War of 1914 broke out, and secret treaties were signed by England, France, Russia, and Italy. The great ideals of freedom and independence of small countries were displayed before the world, but behind the curtain, like vultures waiting for the body, the partition of the planet began.
In Russia, the czars were overthrown, and the government and social system were reformed before that corpse could reach the country. Bolshevik (Russian: “One of the Majority”), a member of the Russian Social-Democratic Workers’ Party wing that, under the leadership of Vladimir Lenin, took control of the Russian government in October 1917 and rose to prominence as a major political force in the country’s history (Britannica, 2020). The Bolsheviks dissolved all secret deals and announced that they were against imperialism and did not intend to invade any other country in order to expose the cunning of the big imperialistic countries in Europe (Mukherjee, 2021).
The West’s winning forces were not pleased with the Bolsheviks’ firm stand and reasonable attitude. They seized control of Constantinople, in particular the English did really well at it. The Caliph (the chief Muslim civil and religious ruler) and Sultan both succumbed to European authority, but a small group of Turks objected. Mustafa Kemal was one of them, and he preferred to rise up in rebellion rather than accepting defeat.
In May 1919, Mustafa Kemal (Also called Atatürk) started a nationalist revolution in Anatolia. He organised people to fight against the peace settlement that the Allies had forced on Turkey. Resistance to Greek attempts to take Smyrna and its environs was a major focus of this. As a result of the Greek victory, the Treaty of Lausanne was reworked to include an amendment to the peace settlement.
A provisional government was set up by Atatürk in Ankara in 1921. Turkey became a secular republic in 1923 with Atatürk as its president after the Ottoman Sultanate was destroyed in 1922. He established a single-party rule that lasted nearly uninterrupted until 1945.
The modernization of Turkey was the goal of his revolutionary social and political reforms. As part of these reforms, liberation of women was achieved, all Islamic institutions were abolished, and the introduction of Western legal systems was introduced. His foreign policy was non-interventionist, fostering good relations with Turkey’s neighbours. The name of Constantinople was also altered. It became Istanbul (Itzkowitz, 2022). The name of Constantinople was also altered. It became Istanbul.
Turkey’s first president, Kemal Atatürk, secularised the structure in 1934, and it was turned into a museum the following year. In 1985, the Hagia Sophia got the status of UNESCO World Heritage site. Several other buildings and locations were also the part of it. During Erdoan’s presidency, he decided to repurpose the structure as a mosque in 2020. A few minutes following the announcement, Islamic prayers were held in the building, partially hiding the Christian images. Because it is Turkey’s most well-known tourist attraction, the Hagia Sophia is still open to the general public (Britannica, 2020).
Bibliography
Britannica, E. (2020, January 14). Bolshevik | Definition, History, Beliefs, Flag, & Facts | Britannica. Encyclopædia Britannica, Inc. https://www.britannica.com/topic/Bolshevik
After the bank fraud done by Vijay Mallya, Nirav Modi and Mehul Choksi, a new Bank Scam has come into picture of Rs. 22842 crores. This bank loan fraud in India would be proved the biggest ever loan fraud if found to be true in investigation.
The Accused of Bank Loan Fraud
CBI declared ABG Shipyard Ltd. the primary accused and the Chairman of the company named Kamlesh Agarwal is the secondary defendant as he signed the loan agreement. Apart from them the director of the executive director and three other directors are defendant in this case. Their names are Santhanam Muthaswamy, Ashwini Kumar, Sushil Kumar Agarwal, Ravi Vimal Nevetia respectively. This list of defendants also includes an affiliate business ABG International Private Limited and unspecified governmental officers and non-government people.
One of India’s key players in vessel construction, the ABG Shipyard Ltd. has shipyards company in Gujarat’s Surat and Dahej where it has the capacity to manufacture boats up to 18,000 dead weight tones (DWT) and 1,20,000 DWT.
ABG Shipyard Ltd.
“Dead Weight tonnage (DWT): Dead weight tonnage (DWT) shows the capacity of a ship that how much weight a ship can carry. It includes the sum of the total of the weights of cargo, fuel, fresh water, ballast water, provisions, passengers, and crew”
How did the Bank Loan Fraud do?
As part of the 28-bank consortium, it was claimed that ABG Shipyard Ltd. had defrauded the branches of the erstwhile State Bank of Patiala, Commercial Finance Branch, New Delhi, and the erstwhile State Bank of Travancore. As per the CBI news declaration, the joint venture was led by ICICI Bank.
As stated in the FIR, the accused company is charged of having outstanding loan with ICICI Bank of Rs 7,089 crore, State Bank of India (SBI) of Rs 2,925 crore, Punjab National Bank of Rs 1,243 crore, IDBI Bank of Rs 3,539 crore, Exim Bank of India of Rs 1,327 crore, Indian Overseas Bank of Rs 1,228 crore and various other banks and financial institutions.
The Ernst and Young has exposed in their forensic audit that between 2012 and 2017, the defendants conspired and engaged in illegitimate acts, including the diversion of cash for purposes other than the ones for which the loan was given by the bank. The corporation allegedly gave large sums to numerous parties
A large amount of funds was revealed to have been invested in the offshore subsidiary as well. Additionally, money from banks was allegedly used to purchase huge assets in the names of the people involved. In July 2016, the loan account was labeled a non-performing asset (NPA).
“Consortium Bank: A consortium bank is a bank created by several banks to fund a project that is too huge for one bank to do alone. The purpose of creating a consortium bank is to leverage the assets of individual banks. All members in a consortium bank have equal ownership and no one bank has a controlling interest.“
According to Ernst and Young’s forensic audit, the accused conspired and performed illegal acts such as money laundering, embezzlement, and unlawful breach of trust between 2012 and 2017. This is the largest instance of bank fraud ever investigated by the FBI’s Central Division (CBI). According to the report, money was being utilized for reasons other than those for which banks had authorized its release. In July 2016, the loan account was labeled a non-performing asset (NPA).
Bank Loan Fraud
How to Prevent Bank Loan Frauds?
At the time when India is seeing a dip in its economy due to pandemic and various other reasons, this bank loan fraud of Rs. 22842 crores will hamper the economy more. India must curb these types of fraud by making a strong policy. Already Neerav Modi, Vijay Mallya and Mehul Chowkasi have done big scams in bank loans. And also, they succeed in fleeing away from the country. The country where farmers are committing suicide due to the burden of only small or medium loan amount, this type of huge bank loan fraud is a question mark before the government. The government must take it seriously and punish the accused severely.
