The Issue Of Adult Courts And Prisons - 1632 Words

As the world advances, so do the expectations for teens to not only do well, but also excel in both academics and life. However, teens are constantly pressured to perform at even higher standards, in hopes that they might guarantee a spot in the workforce. Because of this, it is no wonder that the well being of teens’ mental health has become an issue in which suicides now account for a third of teen deaths. These children need help, which only society can provide; yet instead of heeding their cries for help, society subjects these children to the hardships of prisons. The sad truth is that the majority of juvenile cases are sent to adult courts and prisons, but we must consider the mental capacity and stability, along with external†¦show more content†¦In addition, the Office of Juvenile Justice and Delinquency Prevention has reported that there are now even younger children who are tried as adults. In their report, they specify that in most states children as young as 13 or 14 years old are tried as adults for their crimes. Not to mention, in Kansas and Vermont, children as young as 10 years old are and can be tried as adults (OJJDP). This means even though they are children, they can receive a life sentence without even a chance of parole. How can these children own up to their mistakes by spending the rest of their lives locked up? How are they expected to even comprehend the consequences of their mistakes? Even worse, it was not until 2005 that the Supreme Court banned the execution of juveniles ruling that â€Å"death by execution is unconstitutional for juveniles† (Justices Abolish Death Penalty for Juveniles). Simply, for over two hundred years in the existence of the United States, it was constitutional to execute children. Since the birth of the United States there have been over three hundred and sixty five children executed for their crimes (â€Å"Death in Prison Sentences for Children†). It is not right that a childâ⠂¬â„¢s future can be taken away because of one’s own mistake at such a young age. As a nation, we need to care for the young and help them integrate into society because their future is our future. Placing youths into adult prison can haveShow MoreRelatedJuvenile Crimes Face Harsh Punishments899 Words   |  4 Pagesjudicial system prosecutes juveniles. Although there is a juvenile court system in place to try youth offenders, the way it is being implemented is different between each state. In addition, some states even go further and try youth offenders, depending on the crime they committed, in an adult criminal court. In recent years, juvenile crimes face harsh punishments in the US, and the number of juvenile offenders sent to youth courts is decreasing, based on the data (â€Å"The Sentencing Project – JuvenileRead MoreThe Constitutionality Of The Juvenile Justice System1634 Words   |  7 PagesThe juvenile justice system has grown and changed substantially since 1899, when the nation’s first juvenile court was established in Illinois. Originally, the court process was informal often nothing more than a conversation between the youth and the judge and the defendant lacked legal representation. To replace confinement in jails with adults, the early juvenile courts created a probation system and used a separate service delivery system to provide minors with supervision, guidance, and educationRead MoreThe Effects Of Charging Juveniles Of Adults1689 Words   |  7 Pagesconvicted of felony murder and thus sentenced to life in prison with no possibility of parole. Now why was this sentence so controversial? Because Lionel Tate was only twelve years old at the time of the murder. How do we determine mental competence of someone whose brain is still developing? How could someone who has not even finished puberty possibly understand the sever implications of such a brutal crime? How can we possibly try a juvenile as an adult when juveniles are proven to have diminished impulseRead MoreJuvenile Rehabilitation: Adult Prison vs. Juvenile Incarceration1703 Words   |  7 PagesJuvenile Rehabilitation: Adult Prisons vs. Juvenile Incarceration Maureen Fries-Labra English 122 Anna Hopson December 14, 2009 Juvenile Rehabilitation: Adult Prisons vs. Juvenile Incarceration The criminal justice system has a branch for juvenile offenders. Established in the early twentieth century; it is the responsibility of this division to decide the fates of youthful offenders. This is administered by family court with support of social workers and family. With the increased numberRead MoreCriminal Justice And The Juvenile Justice System1689 Words   |  7 Pagesand more throughout history by changing something as simple as law enforcement officer’s purpose and who they are taking orders from. The objective of this analysis is to break down these three criminal justice subjects: the juvenile justice system, prison life and the different policing eras. Juveniles has an extensive background of violent crimes throughout history. Ever since the 1990s crime rates for youth has decreased in some way compared to the late 18th century and early 19th century. TheseRead MoreEssay on Should Juveniles be Tried as Adults1503 Words   |  7 PagesHolden 5 Should Juveniles be Tried as Adults? Juveniles deserve to be tried the same as adults when they commit certain crimes. The justice systems of America are becoming completely unjust and easy to break through. Juvenile courts haven’t always been known to the everyday person. The Illinois Juvenile Court Act of 1899 was the first juvenile court established in the United States (Locked Up†¦). The juvenile court was created to handle the offenders on the basis on their rather than their crimeRead MoreJuvenile Crime Law Is A Subcategory Of Juvenile Law937 Words   |  4 Pagesjuvenile crime law only deals with under-age individuals, who are treated very differently than adults in criminal law, and usually have their own courts of law (Juvenile Criminal Law, n.d.). When it comes to crime, kids usually go through a different process than adults. But they still have to face consequences (Juvenile Crimes Juvenile Justice - Nolo.com, n.d.). Juvenile Criminal Law is a relevant issue in today’s juvenile criminal Justice system. A growing number of states are re-examining andRead MoreJuveniles And The Juvenile Justice System1559 Words   |  7 PagesJuveniles committing crimes is not a new issued being introduced to society; actually, it has been an issue for centuries. However, the big question is, should juveniles be tried in adult courts? Before answering, take into consideration every possible scenario that could have led them to commit the crime. For instance, were they the leader in the act? Did they participate in the crime? Was the juvenile even aware of what was taking place? Were they peer pressured? Did they have any other choiceRead MoreJuvenile Prison Is the Best Way of Reforming Essay1342 Words   |  6 PagesThe Juvenile System has been around for a long time. The primary reason behind separating Juvenile from adult criminals is quite simple; the judicial system believes that the children are less culpable for their irresponsive behavior and they could easily be reformed as compared to adult offenders. The crucial role of the judicial system is to critically investigate, diagnose, and recommend treatments for the Juveniles rather than accrediting them. However, because of the increasing number of juvenileRead MoreEssay on Juveniles in Adult Prisons1612 Words   |  7 PagesJuveniles in Adult Prisons A deep look into juveniles in adult prisons. Touch bases on several smaller issues that contribute to juveniles being in and effects of adult prisons. The United States Bureau of Prisons handles two hundred and thirty-nine juveniles and their average age is seventeen. Execution of juveniles, The United States is one of only six countries to execute juveniles. There are sixty-eight juveniles sitting on death row for crimes committed as juveniles. Forty-three of

Tattoos As A Form Of Decoration And Communication

There is a long list of cultures that utilised tattoos as a form of decoration and communication (Swami, 2011). That said, within some western societies, that historical connection to the tattoo is not that strong. However the art of tattooing has seen a steady growth of its popularity and acceptance, and since the early 1990s, that growth has accelerated dramatically (Caplan, 2000; Cash, 2011; DeMello, 2000; Swami, 2011). The current estimated incidence of tattooing amongst the populations of North America and Europe is approximately 25 percent (Laumann Derick, 2006; Swami, 2011), with one researcher suggesting those rates could continue to increase to as much as 40 percent of the population (Anderson, 2006). Tattoos are no longer†¦show more content†¦However, although tattoos are progressively seen as a prosocial rational method of communicating ones identity to others within their societal group and the wider society (Atkinson, 2003), research (e.g. Mun, Janigo Johnson, 2012) is consistently highlighting the possibility that obtaining an tattoo can lead to changes in how tattoo wearers view themselves and their behaviour. Individuals with tattoos transform their skin in to a social billboard, expressing both explicit and implicit aspects of their identity (Atkinson, 2003), using or acquiring tattoos to communicate known attributes about themselves (Livesley Bromley, 1973) or attributes that they do not possess but have a desire (Schouten McAlexander, 1995). For example, riders of Harley Davidson motorcycles may view that brand’s attributes as consistent with their own (actual self) and therefore an individual may decide to acquire a tattoo which is linked to that brand (Schouten McAlexander, 1995). On the other hand, an individual may aspire to be a Harley rider or aspire to link oneself to the traits of the Harley brand, and therefore an individual may obtain a Harley based tattoo to communicate an attribute of their ideal self (Schouten McAlexander, 1995). Mun, Janigo and Johnson (2012) take that idea one step further by suggesting the only reason individuals desire specific tattoos is because

Product Liability Theories of Recovery and Defenses Free Essays

Product Liability Theories of Recovery and Defense In my opinion Wood would most likely win the law suit against either the peanut or the jar manufacturer on the basis of strict liability or negligence, which allows a person injured by an unreasonably dangerous product to recover damages from the manufacturer or seller of the product even in the absence of a contract or negligent conduct on the part of the manufacturer or seller (Bagley, 2013). Therefore, Wood should recover damages even if the seller exercised all possible care in the manufacture and sale of the product, because the defect in the product is the basis for liability (Bagley, 2013). Negligence claims could also be used in the attempt of recovery for damages, because there should have been practices put in place to ensure product safety. We will write a custom essay sample on Product Liability Theories of Recovery and Defenses or any similar topic only for you Order Now Negligence is considered any conduct that involves an unreasonably great risk of causing injury to another person or damage to property that requires all people to take appropriate care in any given situation (Bagley, 2013). Although it may not have been an intentional act of negligence the manufacturer had a duty to make sure that the products that they produce are safe for consumer use. The manufacturer should have taken reasonable measures to conduct product safety tests to determine the safety of the product before distributing it. I feel that extra precautions and tests should be done to ensure safety when manufacturing any products that will be used in food production or storage to make sure that there are no product defects. There are defenses that the manufacturers can use, which include showing that there is no basis for the claim based on product liability, the use of comparative negligence and liability, and unforeseeability of intentional injury using state of the art defense or preemption defense (Bagley, 2013). The state of the art defense shields a manufacturer from liability for a defective design if no safer product design is generally recognized as being possible (Bagley, 2013). The defense can state that there is no basis for the claim using state of the art defense, because the defendant should have been more cautious when closing the jar and should have used the same methods as he had used previously each time he had closed the jar, which could have prevented his injury on the basis that the safest design was used. Comparative negligence is also known as comparative fault, which can reduce the plaintiff ‘s damages depending on the degree to which his or her own negligence contributed to the injury (Bagley, 2013). Preemption defense is used in cases of product liability, because there are certain federal laws and regulations that set minimum safety standards are held to preempt state-law product liability claims, therefore this defense is used as an attempt to eliminate the possibility of state-law product liability claims in any sphere governed by federal safety law and regulation (Bagley, 2013). Ultimately it is the responsibility of the manufacturer, because manufactures are held strictly liable for its defective products regardless of how remote the manufacturer is from the final user of the product even when the distributor makes final inspections, corrections, and adjustments of the product (Bagley, 2013). Reference Bagley, C. (2013). Managers and the Legal Environment: Strategies for the 21st (7th ed). South-Western. Retrieved from http://digitalbookshelf. southuniversity. edu/books/9781285404837/id. How to cite Product Liability Theories of Recovery and Defenses, Essay examples

Frequency Spread Spectrum The Management â€Myassignmenthelp.Com

Question: Discuss About The Frequency Spread Spectrum The Management? Answer: Introducation While wired communication may have the benefit of solid mediums to perform its operations, wireless communication uses a versatile and dynamic medium to transfer information. This medium is filled with many elements and conditions that change abruptly which necessitates the need to improve the performance of the signals being transmitted. FHSS will improve the quality of the signals by minimizing signal interference and fading through hopping technique that carries information from one signal band to another [1]. Now, to understand the operation of this technique its important to highlight the entire concept of spread spectrum. In general, there are two main types of spread spectrum; FHSS and DSSS (direct sequence spread spectrum). In both instances, the communication bandwidth i.e. the transmission signal is enlarged as compared to the bandwidth of the transmitted signal (original message). This variation accommodates the limitations of wireless communication particularly in the sho rt range application improving the quality of the signals [2]. FHSS as a component of spread spectrum will further its course by utilizing the frequencies of communication and randomly selected chipping codes. In essence, unique codes are used to generate spread chips that assign the transmitted signals carrier frequencies [1]. Through this operational procedure, the FHSS can be combined with modulation schemes to convert digital signals to analogue signals, an added advantage of the technique. However, while these operations take place, the communication process must ensure that the hops do not interfere with each other as they would cancel the entire process. Again, this process is accomplished using adaptive FH techniques that avoid signal collision and congestion during the hopping sequences. Literature review Many researchers and scholars who study spread spectrum techniques compare them to narrow band techniques, where the difference in the signal spectrum orientation is highlighted including the advantages of the methods. Now, while narrow band mobile communication may be efficient to use due to its operational structure that assigns users (subscribers) fractions of the communication channel, its allocation process is prone to many challenges. For one, the allocation process requires a well-coordinated process to assign the available frequencies to the different subscribers. Furthermore, having assigned the resources, the system must be aware of the drawbacks of jamming and interception of data more so, through eavesdropping techniques [3]. While there are many solutions to these problems, they can all be eliminated by the technique described above where the bandwidth is spread to fulfil the needs of the subscribers. FHSS like any other spread spectrum technique will increase the dimensional attributes of communication signals thus minimize the incidences of eavesdropping and any other form of interference. Furthermore, through the chipping codes that facilitate the hops of the carrier frequencies the transferred information is only distinguishable to the verified members. These operational conveniences have led to the application of the technique in modern wireless infrastructures such as WLAN (wireless local area networks) and Bluetooth communication. In all, when using FHSS, the following advantages are experienced: Minimal narrowband interferences. To understand the FHSS operation, we have to consider the Capacity formula as put forward by Shannon and Hartley [5]. In their theorem; C = B Log 2(1+S/N). Here, the C is the data in bits per seconds while the B highlights our required bandwidth. Therefore, for maximum information transmission, the value of B (BW) must be high to accommodate the data quota. Now, shifting back to FHSS, a carrier signal (encapsulates the message) moving from one frequency channel to another over a specific period of time. Moreover, the carrier frequency is accorded a wide range of frequencies (band) which maximizes the operational bandwidth hence improving the quality of the communication signals and also reduces the limitations (interferences and jamming) [5]. Now, during the hop activity, the data session or signal will remain in a given frequency channel for a specific period of time, which helps to maintain a consistent level of operation. According to the IEEE standards, this value should be 300 ms and is set as so in order to synchronize the operations of both the transmitter and receiver. In addition to this, the pattern of helthcare is dictated by a spreading code that is developed by a pseudo-random generating program. This program or generator is again synchronized between the transmitter and receiver in order to demodulate the signal at the reception stage. Therefore, when all is said and done, the transmitter and receiver must have a one to one synchronization for them to communicate [2]. A common feature or attribute that distinguishes FHSS from DSSS is the signal output given by the technique, instead of the envelope shaped signal (Sin X)/X)2 a flat output is given over the different frequencies used. Furthermore, size of the hopping bandwidth is usually N-times the total number of slots (frequency bands) available, where N is the bandwidth of each slot [6]. Identified by the IEEE 802.11 standard Operates within the 2.4 GHz band while having 79 frequencies (2.402 2.480GHz). Each of the frequencies outlined above is modulated (FSK) with a width of 1MHz[7]. FHSS Modulatio After highlighting the general operation method, its time to outline the modulation process used i.e. the transmission of the signal from a common FSHH transceiver. First, any signal interval can be chosen to highlight the process occupying one or even more frequency slots. Moreover, the frequency slot occupation is designated by the code generator which is usually a pseudo-noise (PN) sequence. Now, the most commonly used modulation method is usually M-ary FSK (frequency shift keying) and QAM (quadrature amplitude modulation). Therefore, the FSK is used to generate a signal at the start of transmission, with the output signalling the start of the modulation process. After, the FSK signal is converted into a frequency that is then synthesized with the frequency synthesizer. The resultant frequency is then combined with the overall output of the modulator forming a frequency-translated communication signal. This is the final product of the modulation process and is the signal transmitt ed over the channel [8]. NB: Note that, the PN generator produces N bits which are usually used to make the final 2N-1 frequency translations. Furthermore, the modulated signal is then transmitted using an AWGN (Additive white Gaussian noise) channel FHSS Demodulation (receiver section) In the receiver section of the transceiver, a similar PN generator is used to match the code used at the modulation stage. Furthermore, the generator at this end is synchronized with that of the input in order to match the operational frequency and slots used [9]. Moreover, its operation (PN generator) is also synchronized with the received signal so as to control the outcome of the resulting frequency synthesizer. Therefore, all the operations conducted at the transmitter are removed at this section, first, pseudorandom frequency conversion introduced is removed by mixing the product of the synthesizer with that of the received signal. Thereafter, the resulting product is demodulated using an M-FSK demodulator that matches the one at the transmitter [2]. NB: To maintain a synchronized operation, a signal or matching method is required between the PN generator and the frequency translated signal. This matching is usually done by the received signal as it dictates the terms of operation for it is the subject of the demodulation process. Furthermore, the improvements in FHSS operation and QAM as supported by Viterbi decoders which decrease the overall bit error rate [10]. FHSS Application As outlined before, FHSS offer improved signal performance as compared to narrow band technologies. This outcome makes its suitable for applications that use its corresponding operational frequency as highlighted in the figure above. Therefore, its mostly used for applications that require the operational frequencies of 2.4GHz and 3G. These applications are common among the military whose operations not only requires efficient systems bust also the utmost security. Now, both of these conditions are met by FHSS, where security is implemented using cryptographic structures and algorithms that generate unique chipping codes which are shared amongst the communicating parties. Moreover, FHSS is also used in wireless area networks (WLAN) where again it operates using the 97 frequency channels identified before. Now, in WLAN, it follows the operational band between 2.40 GHz and 2.480 GHz as highlighted in the figure above [11]. FHSS is also used in the modern digital systems, more so in the global positioning systems that outline objects positions. In all, the overall GPS system consists of several sections i.e. control unit, space unit and the user unit. Now, all these units exist independently and will use wireless communication to connect with each other which is where FHSS comes in hand offering its quality networking procedures. Moreover, FHSS is also used in other forms of wireless communication mostly because of its modulation process [12]. Finally, FHSS is also used in Bluetooth technologies. IV New Finding Optimized matched frequency hopping (OMFH) and optimized advanced frequency hopping (OAFH) are considered in this section. Now, traditional FHSS will just divide the overall communication band and spread the signal across them (hopping sequences). Moreover, the random pseudo code is used to deliver the allocation, however, this operational method is sometimes inefficient which has led to the new developments highlighted above. In essence, the overall performance of FHSS is improved by fading the frequency selection process and by use of adaptive frequency band jamming [13]. This outcome is accomplished by optimizing the control factors through matching hops and advanced frequency matching which improves the overall signal throughput. OMFH: In this technique, the regulation parameters of the FHSS are optimized and in this case, the only available factor is usually the sub-band frequencies for the hops. In essence, as one increases the number of sub-bands (hops) the signal interference decreases. In fact, an optimal operation is achieved when the sub-band frequencies are greater than 7 [14]. OAFH: Similarly, the regulation of FHSS parameters in done in this case, however, unlike the previous technique the respective sub-band frequencies are also regulated and optimized. Again, several sub-band are chosen but now each sub-band is regulated and optimized to increase the individual throughput which enhances the performance of FHSS beyond that of OFMH [15]. Conclusion From the analysis given in this report, FHSS has been outlined as a modulation technique that spread the communication spectrum based on the operational frequency. In all, in the technique, a number of sub-band frequencies are selected randomly using pseudorandom generators (PN) which designate the path for the transferred signals. After identifying the sub-frequencies, the signals are then hopped from one band to another which increases the operation bandwidth hence minimizing the limitation of wireless communication. Furthermore, the hops are strictly monitored based on a specific time interval, an outcome that makes the transiting signal immune to noises, distortions, jamming and interceptions. In addition to this, the presence of the chipping code generator (PN) makes the FHSS technique secure as it can be deployed using cryptographic parameters which can only be known by the communicating parties. Again, these operational conveniences make FHSS suitable for applications that req uire secure systems such as those of the military as identified above. References Badiger, M. Nagaraja and M. Kurian, "management Development of Frequency Hopping Spread Spectrum transmitter," IRD India, p. Available: https://www.irdindia.in/journal_ijeecs/pdf/vol2_iss4/5.pdf., Badiger, M. Nagaraja, M. Kurian and I. Rasheed, "Analysis, Design and Testing of Frequency Analysis, Hopping Spread Spectrum Transceiver Model Using MATLAB Simulink," International Journal of Advanced Research in Electrical Electronics and Instrumentation Engineering, pp. Available: https://www.rroij.com/open-access/analysis-design-and-testing-of-frequencyhopping-spread-spectrum-transceiver-modelusing-matlab--simulink.php?aid=42160, 2 Motlagh, "Frequency Hopping Spread Spectrum: An Effective Way to Improve Wireless Communication Performance," Department of Information Technology, Vaasa University of Applied Sciences, pp. Available: https://www.intechopen.com/books/advanced-trends-in-wireless-communications/frequency-hopping-spread-spectrum-an-effective-way-to-improve-wireless-communication-performance Vembu and S. Navaneethan, "Security Enhancement of Frequency Hopping Spread Spectrum Based On Oqpsk Technique," IOSR Journal of Electronics and Communication Engineering (IOSR-JECE), pp. Available: https://www.iosrjournals.org/iosr-jece/papers/Conf.15011/Volume%201/iosr%2010-62-70.pd David, K. Shama and K. Nayak, "Improved Performance Evaluation of Frequency Hopped Spread Spectrum using QAM/FSK Modulation Techniques," International Journal of Computer Applications (0975 8887), p. Available: https://eprints.manipal.edu/76369/1/ijca.pdf., 2012 Integrated, "An Introduction to Spread-Spectrum Communications," Tutorial 1890, pp. Available: https://www.maximintegrated.com/en/app-notes/index.mvp/id/1890, 2017 Schwartz, "Frequency Hopping Spread Spectrum (FHSS) vs. DSSS vs. BWA and WLAN," FHSS vs. DSSS, pp. Available: https://sorin-schwartz.com/white_papers/fhvsds.pdf., 2016 Torvmark, "Frequency Hopping Systems," Application NoteAN014, p. accounting: https://www.ti.com/lit/pdf/swra077., 2 Seth and V. Shrimal, "Performance Improvement of Frequency hopped spread spectrum Using coherent noncoherent M-ary frequency shift keying," International Journal of Modern Electronics and Communication Engineering (IJMECE), p. Available: ijmece.org/current_issue/IJMECE130502.pdf, 2013. Meena1 and M. Kuntal, "Performance Analysis of BER with FHSS System," IJLTEMAS, pp. Available: https://www.ijltemas.in/DigitalLibrary/Vol.2Issue5/29-35.pdf., 2013 Hasan, J. Thakur and P. Podder, "Design and Implementation of FHSS and DSSS for Secure Data Transmission," International Journal of Signal Processing Systems, p. Available: https://www.ijsps.com/uploadfile/2015/0915/20150915101611816.pdf., 201 Mathur, "Wireless Technology Is Ready For Industrial Use," pp. Available: https://www.miinet.coFHSS Modulatioroved Jamming-Resistant business Hopping Spread Spectrum Systems," A thesis, pp. Available: https://curve.carleton.ca/system/files/etd/3ca5b480-565a-4721-8199-2339ad2af5df/etd_pdf/a661b46493258918a040b402f54e24e5/atta-improvedjammingresistantfrequencyhoppingspread.pdf., 2014 Burke, C. Hume and J. Meza, "Spread Spectrum jamming," CALIFORNIA POLYTECHNIC STATE UNIVERSITY, p. Available: https://www.google.com/url?sa=trct=jq=esrc=ssource=webcd=4cad=rjauact=8ved=0ahUKEwi74LaJ457WAhWIDsAKHSeFBZYQFgg1MAMurl=http%3A%2F%2Fdigitalcommons.calpoly.edu%2Fcgi%2Fviewcontent.cgi%3Farticle%3D1234%26context%3Deespusg=AFQjCNE_apTBCP, 2013. Atta, "ADVANCED FREQUENCY HOPPING SPREAD SPECTRUM TECHNIQUES FOR INTERFERENCE LIMITED FADING WIRELESS CHANNELS," Research gate, p. Available: https://www.researchgate.net/publication/315757724_ADVANCED_FREQUENCY_HOPPING_SPREAD_SPECTRUM_TECHNIQUES_FOR_INTERFERENCE_LIMITED_FADING_WIRELESS_CHANNELS?channel=doilinkId=58e2735f92851c369550d5e9showFulltext=true, 2009

Business Plan Essays (357 words) - Street Food, German Cuisine

Business Plan IV. Description of the market Our market is going to be focus mainly for the people that goes everyday to Church Street Station. This people are mainly tourist from everywhere in the world that comes to see the Themes Parks here in Orlando and they hear about Church Street Station and decide to go to see what it is all about. Also there is a big percentage of young people from 18 to 35 years old that goes mostly to the dance clubs and pubs that are in the area. We did a survey and we came up with an average of 2,000 people a day that visit Church Street Station. At this point there is no direct competition in our business. The reason why is because this is going to be a new business in there. All of the carts that sell food are mainly Gyros and Hot Dogs. This is good and is also bad. It is really good because people likes more the food that we will be serving than Hot Dogs but also because it is going to be something new in the area and it is difficult to us to make an estimate on the sales. At this point of time there is 12 carts in total, 7 Hot Dogs Carts and 5 Gyros Carts. By August 1 this number should go up because of the increase of people going to Church Street Station. V. Legal Aspects In order for us to start the business we need two licenses. The first one is the Occupational License. This license will cost us $710/year. The other license is the Health License and this one will run us about $35/year. There is one more license that we need but it is not for the business itself but for the person that is going to be selling the food. It is call Florida Food Handlers license. This license only cost $12 and is good for seven years. When the cart is open to the public, somebody with this license need to be in the premises, even if is not the one serving the food. Business Essays

Free Essays on A Jury Of Her Peers Theme Analysis

A Jury of Her Peers Theme Analysis Justice is often defined as treating someone or something with due fairness. But the fairness of a situation is often portrayed differently in many viewpoints. In Susan Glaspell’s â€Å"A Jury of Her Peers†, the idea of who is capable of fairly judging a person is examined. Mrs. Minnie Wright is being held in custody for the murder of her husband. As the sheriff and others go to the Wright’s house for different reasons, the answer to who should judge Mrs. Wright is revealed. Through the title of the story, the characters and their actions, and the use of symbolism, Glaspell expresses the theme that someone who has experienced a certain situation can find understanding for and truly judge someone who experienced the same situation . Justice Through the characters in the story and their actions, Glaspell further emphasizes her point theme that sometimes a person who has experienced something can find understanding for another person going through the same thing. Mrs. Hale and Mrs. Peters go to the Wrights’ house to collect clothes for Mrs. Wright, who is being held in custody while the sheriff and the county attorney arrive to collect evidence for a motive. The men only seek evidence to â€Å"convince twelve good men† that Mrs. Wright did indeed murder her husband, while the women turn to their emotional side to seek justice. The men are condescending and act as if they are superior to the women. Mrs. Hale’s husband, with â€Å"good natured superiority†, makes a comment â€Å"women used to worrying over trifles.† This causes the women to â€Å"move a little closer together† (412). This shows how the women are joining forces. The condescending nature and jibes of the men commun icates the point the author is trying to make about the lack of ability these men (and men in general) have of judging an isolated housewife. For the men, â€Å"evidence is factual and their version of "... Free Essays on A Jury Of Her Peers Theme Analysis Free Essays on A Jury Of Her Peers Theme Analysis A Jury of Her Peers Theme Analysis Justice is often defined as treating someone or something with due fairness. But the fairness of a situation is often portrayed differently in many viewpoints. In Susan Glaspell’s â€Å"A Jury of Her Peers†, the idea of who is capable of fairly judging a person is examined. Mrs. Minnie Wright is being held in custody for the murder of her husband. As the sheriff and others go to the Wright’s house for different reasons, the answer to who should judge Mrs. Wright is revealed. Through the title of the story, the characters and their actions, and the use of symbolism, Glaspell expresses the theme that someone who has experienced a certain situation can find understanding for and truly judge someone who experienced the same situation . Justice Through the characters in the story and their actions, Glaspell further emphasizes her point theme that sometimes a person who has experienced something can find understanding for another person going through the same thing. Mrs. Hale and Mrs. Peters go to the Wrights’ house to collect clothes for Mrs. Wright, who is being held in custody while the sheriff and the county attorney arrive to collect evidence for a motive. The men only seek evidence to â€Å"convince twelve good men† that Mrs. Wright did indeed murder her husband, while the women turn to their emotional side to seek justice. The men are condescending and act as if they are superior to the women. Mrs. Hale’s husband, with â€Å"good natured superiority†, makes a comment â€Å"women used to worrying over trifles.† This causes the women to â€Å"move a little closer together† (412). This shows how the women are joining forces. The condescending nature and jibes of the men commu nicates the point the author is trying to make about the lack of ability these men (and men in general) have of judging an isolated housewife. For the men, â€Å"evidence is factual and their version of "...

Marketing of services Essay Example | Topics and Well Written Essays - 1750 words

Marketing of services - Essay Example The political system of the country provides favourable business framework for companies to operate efficiently and ethically (Clayton Utz 2012). Technological Australia is recognised to be a technologically developed country which adopts latest technology rapidly which further facilitates organisations to ensure greater competitive advantages (Clayton Utz 2012). The intellectual property as well as technology is protected with legal laws and frameworks to preserve integrity and financial reporting transparency in the industry (Clayton Utz 2012). These are the various external factors which are observed to be quite favourable for Beehive marketing when performing its business operations in an effective manner. The internal environment of the company can be analysed in-depth with the identification of its internal strengths as well as weaknesses. In this respect, the key internal strength of Beehive is determined to be the employees or staffs. Notably, the employees in Beehive are ski lful as well as committed who perform their activities effectively. Moreover, the employees are also observed to be operating as a team which in return improves its workplace culture substantially and thus creates an indirect influence on its production efficiency. The company possesses a good brand image in the worldwide market segment which can also be attributed as one of its major strengths. Furthermore, the company with its business values and nature will be successful in offering better services in relation to marketing solutions for business sectors. The main weakness of the company is that it lacks adequate and proper office space employing 3 employees. Moreover, the company is also observed to be facing the issue of communication gap and control...In this respect, the key internal strength of Beehive is determined to be the employees or staffs. Notably, the employees in Beehive are skilful as well as committed who perform their activities effectively. Moreover, the employee s are also observed to be operating as a team which in return improves its workplace culture substantially and thus creates an indirect influence on its production efficiency. The company possesses a good brand image in the worldwide market segment which can also be attributed as one of its major strengths. Furthermore, the company with its business values and nature will be successful in offering better services in relation to marketing solutions for business sectors. The main weakness of the company is that it lacks adequate and proper office space employing 3 employees. Moreover, the company is also observed to be facing the issue of communication gap and control with clients as no specific communication measures have been adopted thus far. The team members of the company are also not offered with training facilities in relation to social media, copywriting as well as event management. The company is also perceived to be lacking commitment as well as business plan for future growth and prosperity.

Perspectives on Case Manager Project Research Paper

Perspectives on Case Manager Project - Research Paper Example In part one, a team of two researchers carried out an eighteen in-person interviews (Fattoruso & Quinn, 2007). Notably, when one of two staff researchers was not available, either the interview proceeding was recorded or the project attorney carried on as, a substitute to maintain consistency of the interviews. More significantly, all stakeholders participated voluntarily and were subjected to the same set of questions. The open-ended questions interview took place at a location chosen by the interviewee within an average time of one hour. More so, these interviews occurred between October 2010 and December 2010 after the project had been in the market for six months. The full set of interview questions are located in â€Å"Appendix A† of this report while below is a description of the total number of interviewees and job categories: Bench Officers: One full-time dependency court Judge and one dependency Judge working part-time in criminal cases. Attorneys: Five dependency att orneys—three individual interviews, group of two attorneys. Social Worker’ from the Human Services Agency, Children’s Services Division: Three emergency response social workers, one Division Chief, and two treatment unit supervisors overseeing programs of group homes, residential treatment, placements, adoptions, and commencement planning. County Unified School District Staff: One superintendent secretary, and one child welfare linked with custody of student records. Local Community Based Organization: A focus group interview consisting of one Executive Director, one Associate Executive Director of Programs, and one Clinical Program Manager. This agency provides a wide range of services designed to foster healthy families. The researchers’ objectives of the stakeholder interview were to gain an understanding and discuss the project in terms of—communication, goals, teamwork and collaboration, resources, and impacts of the case manager position Comm unication Researchers received a wide variation of responses based on how often the stakeholder’s role communicated with the case manager. More significantly, each stakeholder had a different role and thus, communication with the case manager took place at different times and for different reasons. Only eleven percent of interviewees were able to give researchers a frequency of how often the communication occurs. Another eleven percent stated that communications occurred by either phone or email. In addition, researchers received key information about caseload type(s) and reasons as, to why communication among stakeholders is widespread or not. Notably, one interviewee stated that, â€Å"half of my cases have contact with the case manager†¦my caseload is up to 100.† Along the same lines, seventeen percent of interviewees mentioned that because the caseload for the target population is so low, they hardly ever cross paths (Fattoruso & Quinn, 2007). Conversely, twen ty-two percent of interviewees noted that they have never worked with the case manager. Moreover, the variation in responses depended on various settings. Seventeen percent of interviewees attested to the fact that their communications were in settings such as, formal meetings and dependency hearings. More significantly, twenty-two percent of interviewees provided examples of the educational issues comprising of requests for school credits, graduation options, school changes, and continuing education as, they worked with the c

Family Assessment and Substance Abuse Assignment

Family Assessment and Substance Abuse - Assignment Example Violence here can be physical, verbal, or sexual. This can be attributed to the impaired reasoning state that a person assumes after using drugs. Drugs have been known to interfere with one’s perception of things and so tend to think illogically and irrationally. Those who suffer here are spouses of drug addicts as well as their children. In addition to this, the physical state of drug addicts is also affected. Psychologically, drug addicts are affected, as they appear mentally deranged (Thombs et. al., 1997. Their thinking and reasoning is impaired, and as a result, their decisions affect their families. The resultant effect of drug abuse in a family includes denial and keeping of that issue secretive. As a result, the family makes changes in the ways it deals with the substance abuse problem. Some of the rules that have been documented to exist in families where substance abuse is an issue include; all family members are encouraged not to feel the painful effects that drug u se cause a family member to do. These changes include emotional and behavioral changes. Children and spouses affected here do not talk about or express their emotions in public, but in case this happens, the reaction is always violent and abusive. In such families, there is lack of trust since many promises made are always cancelled or forgotten. This erodes the trust of family members, especially children who grow up with this notion. If anyone abuses drugs while expectant, then there are chances that they will give birth to babies with low birth weight. In addition to this, babies born by addictive mothers suffer from withdrawal syndrome soon after birth or acquire fetal alcohol syndrome. Substance abuse... This essay stresses that organizations that are responsible for drug trafficking should be dismantled and their leaders arrested and prosecuted in international courts. However, this method has not been effective as much, probably due to the high rate of corruption and presence of rogue law enforcers and top government officials who benefit from drug sales. Also, fundamental is the enhancement of policies that will control the sale of prescription drugs so that they are not abused. The government has put in place some acts and legislations that are aimed at controlling the vice. For example, the Drug abuse Control amendments of 1965. This was formed to act as a modification of the Food, drug, and cosmetics act. Through this act, some drugs were labeled as stimulants, depressants, hallucinogens, required licenses, and control in terms of distribution and sales. The bureau of narcotics and dangerous drugs was also formed, and handles control of marijuana and narcotics, as well as other drugs. Finally yet importantly in control of substance abuse and addiction is the online counseling services that help drug users. This paper makes a conclusion that substance abuse is without a doubt a major problem that has affected all and sundry in the world, be it directly or indirectly. Even though there are measures in place to curb this problem, it is evident that a lot more has to be done if total eradication is to be achieved. This will bring normalcy to families and the society as whole.

How Software Utilities Can Improve Computer Science Essay

How Software Utilities Can Improve Computer Science Essay All software utilities have been designed and made to improve the performance of computer systems. These software utilities can be an advantage to Sam because he does not know much about computers and is new to this electrical machine. Some functions and features that software utilities perform can be done manually but only by experienced and professional. Most new users cannot carry out such operations, which will improve the performance of his computer system manually. A computer system can maintain upmost computer performance through utilities and are suggested how they maintain computer performance below. Security (Anti-virus, Anti-Spyware and Firewall): There are two main areas to security within a personal computer that need to be maintained through the use of a software utility. One is firewall, a software utility which prevents unknown people and viruses from entering your computer. A firewall acts like a wall and a boundary between the computer and the internet. It only allows such connections that have a trusted certificate with them. If a person is not protected from such threats, other people can manipulate his computer or delete everything from his computer. The other security utility that is needed with in the computer is standard software that works in the background and checks for any viruses within the computer. These types of viruses enter a persons computer from a cd, usb or any other external sources which dont have access through the internet. You can get a utility software that functions both of these features. This is more convenient, takes less hard drive space, uses less CPU/RAM usage and also costs less. Anti-spyware software and utilities are needed on every computer especially if one is to use his computer for business work and contains valuable data on his operating system. Sam has the intention of buying a computer for his business work hence he wouldnt want anyone to take his data. Anti-spyware is a software that is designed and created for the sole purpose to detect and prevent spyware program installations. And if it finds one that is already installed on your pc then it will remove it instantly. Spyware can affect the performance of the computer system because it takes up hard drive space and also runs in the background of the computer (hence uses CPU and RAM memory). Sam can use a software utility such as SUPER AntiSpyWare. This will help Sam keep his information safe and secure. Malicious computer hackers, data-destroying viruses, and email spam are the main but few different possible threats to your personal security and your operating system. Without protection, hackers can gain control of any information stored on your computer and also disturb computer performance. It could go to the extent that the hacker can wipe out your operating system. By not being protected you can also encounter viruses; these sorts of programs are designed to damage, disable, or do other unwanted actions to your computer. To prevent these undesirable actions you can use a software utility such as Norton 360 or Kaspersky Internet Security Special Ferrari Edition. This software utility is made to protect against Viruses, Malware and also to stop threats from entering your computer. Been protected ensures that your computer performance should run smoothly. Sam needs his computer to be protected because he is going to be using his computer for business. He will have valuable data on their as customer details are should not be lost or stolen. Defragmentation: Defragmentation is process done to a hard drive in order to recover some lost disk space and also to improve the computers performance. Defragging is a vital process which needs to take place on your hard drive. If a hard drive is not defragmented, then over time the drive will slowly reduce the available capacity on the drive and begin to create performance issues. When you defrag your hard drive you re-arrange the order in which the data is stored on the drive to ensure that the good files and folders are set first so that the computer doesnt spend time searching for them. The PC will arrange the data so that data that belongs together and needs to be read together is actually put in the same place on the drive. You can defrag your computer using the software utility called defraggler. This software will guarantee your hard drives clean-up and tidying hence improve your operating systems performance. Sam needs to defragment his computer because if he doesnt then his computer will c lutter and form a load of useless files. This will then cause performance issues. Clean up Cookies and Internet History: Clean-Up is basically a utility that clears out all temporary files that dont need to be kept within the computer. This includes clearing all temporary files, emptying the Recycle Bin, removing all unwanted user data from sources such as the Internet cache, history and cookies. This can help the performance of a computer because it takes out and removes all of the waste permanently. A utility which carries out these actions is CCleaner. This makes sure that there is no clutter left in your operating system. Sam will have to use this system utility on a regular basis to keep his computer running at a good speed. Back up: Back-Up is a small saved copy of an operating system. This copy is made for emergency cases, where a persons computer has a vital breakdown and the only option available for the computer to properly function again is that you use the back up to restore your computer. You can use a utility software/tool such as CCleaner to create a backup for your operating system. Back-ups can be saved on the primary internal hard disk but if anything is to go wrong with the hard disk then you can lose all of the files including the back-ups made. This is why it is better to make back-ups on external devices such as USBs, CDs, Floppy Disks and external hard drives. Sam is going to be using his computer for business and needs to back up his work. Business data is valuable and cannot be lost. Screensaver: Screen Savers that are downloaded from random websites are normally the ones which affect the computers performance. There are also the flashy and very complex types of screensavers that affect computer performance. This is because the screensaver takes up some of the CPU (Central processing unit) usage and leaves less for the computer to run on then it would without the screensaver. One way of removing this is by getting to this address within the computer (Control PanelAppearance and PersonalizationPersonalization) then clicking on screensaver and applying one of the built in screensavers because these are less complex and also use up less CPU usage. It would be better to completely remove the screen saver and use the hibernating feature within the computer but to suite your needs I would only recommend the built in computer screensavers. If you dont like the screensavers provided than you should download some from the Microsoft website. Sam doesnt really need a screensaver; this i s because there isnt much benefit to a screensaver. If Sam wishes to use one then I advise his to use simple one for example the system default ones. Compression: Compression is when you reduce the size of files by changing its coding to a more efficient coding. This is done to make up more space on the hard drive. Compression doesnt remove and free a massive amount of space but every bit of space counts. Hence a computer with loads of files, when compressed can make a big difference and free a lot of space. Sam can save space on his hard drive by compressing his files. Driver updates: Updating your drivers is very important; whether it may be software updates or hardware updates. Normally when you buy a printer, the printer comes with a software driver CD. This familiarises people with the fact that software need to be updated but they are not normally familiar with updates for hardware devices, such as Intel devices, graphics cards and chipsets. These need to be updated to improve computer performance. New drivers are made by the company of the product and fix bugs, improve the security of the devices and give better performance. To find out which hardware and software drivers need updating, you could use a utility such as Driver scanner 2013 from Uniblue. This tool will scan all your operating system to tell you what drivers need updating. Having all your drivers updated your operating system should run at optimum speed. Sam needs to update his drivers because this helps to fix bugs and other performance issues. Operating system diagnostics: Operating system diagnostics is when you come up across a problem and then your computer gives you the option diagnose problem. The computer will then search for the solution to the problem. Once it finishes diagnosing then it will either give you the solution to the problem or it will tell you that it cant find the solution. For example when you internet is not connected and you open up your browser then it will give you some advice for why your internet is coming on and it will also give you the diagnose problem message. This will be of good use to Sam because he is new to computers and will not have enough knowledge on solving his computer problems. Conclusion: Over time, a computer may accumulate a lot of unnecessary data and a lot of errors. This can easily wear the performance of the computer down and can affect the operating system of the PC. Because of this you should use a computer utility program/or programs that would be able to provide the necessary help that you need in order to help maintain a smooth operating system. The best PC utilities manage and cover a wide range of problems. This is more beneficial, saves money and also hard drive space. Some recommendations for Sam, to stop his computer from accumulating performance issues. Security: (Anti-Virus, Anti-Spyware and Firewall) -Run daily checks on your computer to viruses. -Keep your firewall on all the time. -Try to get a utility that contains all of these softwares in one. (Panda Antivirus Pro 2013) System Maintenance: Defragmentation- Defrag your computer every six months. Clean-Up- Run a clean-up on your computer every two weeks. Back-Up- back up your computer every two to three days. Screen Saver- runs a very basic screensaver but you will be better without one. Compression-compress your files whenever you find a folder full of clutter. Cookies and Internet History- should be done as part of a clean-up check but you need to clear you cookies and internet history every two weeks. Diagnostics: Driver Updates- drivers need to be updated every time a new update is released. Operating System Diagnostics- is just a problem finder and solution raiser. Use whenever in need of this service. These recommendations should stop your computer from accumulating performance issues.

Organ Transplants in the UK Essay -- Healthcare

The need for organs in the UK is increasing by an outstanding rate, leaving up to 5000 people to die, while waiting for an organ to be donated, each year. Hospitals and their resources are exhausted. The number of donated organs is simply not enough to keep up with the increasing demand for healthy, transplantable organs. Scientists have in recent years come up with numerous advances in this area of science; however various issues have become apparent on the road to successful transplantation. Transplantation is the process of replacing a damaged or failing organ with a compatible functioning one. For years the only foreseeable solution were voluntary donors who allowed the use of their organs after they passed away or live donors who were prepared to donate cells, blood or transplantable organs such as kidneys. The main issue with organ transplantation is the lack of donors. Governments in the past have put forward the idea of compulsory donation. However some people argue that this is unethical and a person has the right to refuse. In some major religions the idea of harming the body after death is just simply not an option. Counter arguments claim that these issues are irrelevant as the number of lives saved would outweigh any negatives; they would be ‘saving lives’. Transplants from human donors are relatively straightforward on the face of it however underneath the surface hides a tangle of ethical and moral concerns. What are the sources of organs used in transplantation? Should we pay for organs? Should someone who has already received one transplant, be allowed a second? Should alcoholics be given liver transplants? Yes, in the United Kingdom, organs are sourced from volunteers, however in recent years the issue of or... ...arch?’ http://www.sciencemag.org/content/318/5858/1917.abstract, ‘Induced Pluripotent Stem Cell Lines Derived from Human Somatic Cells’, November 2007 http://www.wellcome.ac.uk/About-us/Policy/Spotlight-issues/Human-Fertilisation-and-Embryology-Act/Stem-cell-basics/WTD040077.htm, ‘The ethics of stem cells’ http://www.stemcellresources.org/pdf/uw_ethics.pdf, ‘The ethics of stem cells’ http://stemcells-research.net/2011/07/09/stem-cells-ethics/, ‘stem cell ethics’ http://ndt.oxfordjournals.org/content/27/3/1246.full.pdf+html?sid=cc03e2a4-2c56-4dfa-9a45-2ac85b454869, ‘Comparison between bortezomib and rituximab in the treatment of antibody-mediated renal allograft rejection’ Journals/Books: Budiani-Saberi, Da; Delmonico, Fl, "Organ trafficking and transplant tourism: a commentary on the global realities.†, American journal of transplantation, May 2008

Contemporary Issue on Chit Funds -“The Invincible”

An contemporary issue report on CHIT FUNDS â€Å"THE INVICIBLE† 2013-2014 Made by : Fakhruddin Badshah PREFACE This document sketches the the meaning, introduction, overview,its working,online chit funds, I threw some light on latest news about this sector and also tried to cover the latest upsteram and downsteam aspects of this sector (chit fund companies). My aim of writing on this issue is who will going to stop the fraudulant activities being done by this companies. I chose this segemnt for my contemporay because this is going very common among the people in today’s time.So I thought lets give away the the detail of this segment to the people. With the help of this document people will come to know what exactly going on in this domain. This sector is expanding rapidly like anything. This developments has become a catalyst for the growth of vigourous chit fund companies in all over India. So what provisions should be made to curb the alleged false practices done by t hese companies or segment. Thus it is the to think and act on it to protect the interest of small investors and their hard earned incomes. Index Introduction| 5-7| Overview of chit fund| 8|How chit fund works| 9-11| 2012-2013 Highlighted News about chit-fund| 12-13| Who will stop chit funds? | 14-18| Report of MCA| 18-21| Benefits| 21-22| Drawbacks| 23| Safety from Chit funds| 24| CHIT FUNDS – â€Å"The Invincible† Introduction: A chit fund is a type of savings scheme practiced in India, besides other forms of savings scheme offered by various public and private sector banks, post offices, insurance corporations etc. Chit Funds are indigenous financial institutions in India that cater to the financial needs of the low-income households, which have been excluded from the formal financial system. Chit†, in the legal purview, means a transaction whether called chit, chit fund, chitty, kuri or by any other name by or under which a person enters into an agreement with a specified number of persons that every one of them shall subscribe a certain sum of money (or a certain quantity of grain instead in the case of villages) by way of periodical installments over a definite period and that each such subscriber shall, in his turn, as determined by lot or by auction or by tender or in such other manner as may be specified in the chit agreement, be entitled to the prize amount.In simple words, A chit fund is a savings-borrowing scheme, in which a group of people enter into an agreement to contribute fixed amounts periodically, for a specified period of time. The amount so collected (or the chit value) is distributed among each of the persons in turns, which is determined by way of lots or an auction. Chit funds provide an opportunity to save excess cash on a daily, weekly or monthly basis, and give an easy access to it in case of emergency. Chit funds are the Indian equivalent of the Rotating Savings and Credit Associations (ROSCA) that are famous thr oughout the world.ROSCAs are a means to â€Å"save and borrow† simultaneously. It is considered one of the best instruments to cater to the needs of the poor. It enables poor people to convert their small savings into lump sums. The concept of chit funds originated more than 1000 years ago. Initially it was in the form of an informal association of traders and households within communities, wherein the members contributed some money in return for an accumulated sum at the end of the tenure. Participation in Chit funds was mainly for the purpose of purchasing some property or, in other words, for â€Å"consumption† purposes.However, in recent times, there have been tremendous alterations in the constitution and functioning of Chit funds. While in most places ROSCAs are user-owned and organized informally, in India, chit funds have been formally institutionalized as well. Legally recognized firms provide a variety of chit schemes. A Chit Fund can either be legally regist ered or unregistered. Registered Chit Funds, as the name suggests are being regulated under the various Chit Fund acts. While unregistered Chit Funds are unorganized and mostly run by the close friends, relatives or family members of the investor.Unregistered Chit Funds which exceed 100 ($2) in value are illegal in India, although it is very well known that unregistered Chit Fund industry is very popular in India, mainly in the rural and semi-urban area, where people have very little access to the banking services and where financial illiteracy is more. The regulation of the Chit Fund industry was put in place by the Government of India to address the problem of misuse of informal Chit Funds by unscrupulous promoters and founders running away with the participant’s funds, leaving the members with little recourse to retrieve their money back.Chit funds in India are governed by various state or central laws. Organized chit fund schemes are required to register with the Registra r or Firms, Societies and Chits. Various Chit Fund Acts governing the industry in India are as under: * Union Government – Chit Funds Act 1982 (Except the State of Jammu and Kashmir) * Kerala – Kerala Chitties Act 1975 * Tamil Nadu – Tamil Nadu Chit Funds Act, 1961 * Karnataka: The Chit Funds (Karnataka) Rules, 1983 * Andhra Pradesh – The Andhra Pradesh Chit Funds Act, 1971 * New Delhi- The Chit Funds Act,1982 and Delhi Chit Funds Rules, 2007 * Maharashtra – Maharashtra Chit Fund Act 1975 Uttar Pradesh: Uttar Pradesh Chit Funds Act, 1975 * Goa, Daman & Diu: The Goa, Daman and Diu Chit Funds Act, 1973 * Pudducherry/Pondicherry: The Pondicherry Chit Funds Act, 1966. An overview of chit funds: The economic development of a country depends upon the availability of resources. The main activities that contribute to the growth are production and employment. Production depends upon the inputs of the factors such as finance, raw materials, labor etc. The mo st important here bring finance, which is the chief mobilized of all the factors of production.In a money economy, finance for development initially comes from private savings. These private savings give to the secondary deposits; this is where the financial institutions come into picture. Financial institutions occupy a central place in mobilizing savings from the people and make it available to the trade, commerce and industries either as a capital or loans. The non banking sector comprises of money lenders, indigenous bankers, pawn brokers, nidhis, â€Å"chit funds† etc.The origin of chit funds can be traced way back to the 17th century when the economic wizards of state of Malabar (now known as the state of Kerala) started this activity. Those were the people who actually founded this financial institution. It became so popular and numerous that people started adopting this activity as a profession by the 18th century all over. As the chit industry grew the number of peop le involved in this industry also grew. This gave rise to many misconceptions, frauds, mismanagement etc. , in this industry.To prevent this State Government of Travancore took the first initiative and introduced the first Chit Fund Regulation being the Chit Fund Act 1914. One important regulation introduced by this act was that of a commission payable to the foreman. The Act brought about a ceiling limit on the commission payable to the foreman that is 5% maximum which is still the same even to this date. How chit funds works: Chit funds which are popular from a very long time but still some people don’t know how exactly this chit fund works and invest their money illogically.This can be understood by the following procedure: Let’s say there are 20 people who come together and form a group. Each one will contribute Rs 1,000 per month and this will continue for next 20 months (equal to number of people in the group). In this group there will be one organizer, who will take the pain of fixing the meetings, collecting money from each other and then doing other procedures. So each month all these 20 people will meet on a particular day and deposit Rs 1,000 each. That will make a total of Rs 20,000 every month.Now there will be a bid on who will take this money. Naturally there will be few people who are in need of big amount because of some reason like some big expenses, liquidity crunch, business problem, Beti ki Shaadi etc etc Out of all the people who are in need of money, someone will bid the lowest amount, depending on how desperate he is for this money. The person who bids for the lowest amount wins the bid. Suppose out of total 3 people who bid for 18,000, 17,000 and Rs 16,000, the one who bids the lowest will win.In this case it’s the person who has bid Rs 16,000. There will also be â€Å"organizer charges† which are around 5% (standard) of the total amount, so in this case its 5% of Rs 20,000, which is Rs 1,000. So out of the total 16,000 which this winner was going to get, Rs 1,000 will be deducted and the winner will get only Rs 15,000, Rs 1,000 will be organizer charges and Rs 4,000 is the profit, which will be shared by each and every member (all 20 people), it comes out to be Rs 200 per person, and it will be given back to all 20 members.So here you can see that the main winner took a big loss because of his desperate need of getting the money and others benefitted by it. So each person actually paid just 800, not 1,000 in this case (they got 200 back). Note that when a person takes the money after bidding, he can’t bid from next time, only 19 people will be eligible for bidding. Now next month the same thing happens and suppose the best bid was Rs 18,000 , then winner will get 17,000 (after deducting the organizer fees) and the rest 2,000 will be divided back to people (Rs 100 each) . So each person is paying effectively Rs 900.This way each month all the people contribute the money, someone takes the money by bidding lowest, organizer gets his charges and the rest money is divided back to members. You will realize that the person who takes the money at the end will get all the money except organizer fee, as there is no one else to bid now. So the person will get around Rs 19,000 in the end, if you try to find out the returns which he got out of the whole deal, it will depend on two things, how much lower bids were each month and the fees paid to organizer, if bids and charges are very low, then a person will make more money at the cost of other situations.So this is pretty much how a chit fund works, there are various versions of chit funds and how they work , but the idea was to communicate the basic model and how it works. | Online Chit Funds is also running with pace of E-commerce With the advent of ecommerce in India, Chit funds have also started going online. Online chit funds conduct auctions online and subscribers can pay their monthly dues and receive prize am ount online through online transactions including electronic fund transfers. Each member will have an online account through which they can manage their chit funds. 2012-2013 Highlighted News about chit-fund: . Cunning strict approaches adopted by RBI to protect the investors from delusive acts of chit fund companies. 2. Last year in the month of December, The Reserve Bank of India (RBI) warned all the state governments about the mushrooming of chit funds and also written to them to take appropriate actions against them for duping depositors. 3. RBI Governor Duvvuri Subbarao said, â€Å"The responsibility for checking the chit funds and for prosecuting the violation of law is of the state government. We have written to all the state governments to be vigilant about this and to take appropriate action†. . D Subbarao also called for greater awareness among police and the general public for checking the proliferation of the chit funds in the country. 5. On 6th December 2012, Min ister of State for Corporate Affairs RPN Singh said that 87 companies have come under the scanner for alleged irregularities related to chit fund schemes and money circulation in the garb of multi-level marketing. The Registrar of Companies (RoC) and its Regional Directors have been asked to scrutinize the balance sheets and inspect the books of accounts and other records of these 87 companies. . India's market regulator, Securities and Exchange Board of India (Sebi) had banned companies such as Rose Valley and MPS Greenery Developers from accepting deposits from the public. 7. The former chief minister also pointed it out that small savings through post offices and co-operatives has suffered a lot as many people are depositing their money to these chit funds expecting huge return. 8. In Bhubneshwar, The crime branch told that they are making a short documentary to sensitize people about illegal non-banking financial companies (NBFCs).The film will feature a host of financial manage ment companies like Seashore, Ashore and Saffex, whose irregularities were exposed recently. The Economic offences wing (EOW) of the Crime Branch has registered at least 30 cases against several fraud companies in the past six months for embezzling public deposits after giving them false promise of high return. Senior functionaries (Head) of the companies were arrested and their bank accounts being ceased. 9. EOW also making plan to start a toll free number to protect people from fraudulent activities done by chit fund companies. 10.Government making steps towards the projection of model; rules to check chit fund and MLM (Multi-level Marketing) frauds. The central government will soon make stringent provisions in place, like hefty financial penalty, jail terms, de-listing from the registrar of companies (RoC) roster, among others. Who will stop chit funds In October 2012, a women and her elder daughter were running a chit fund, committed suicide by consuming acid in Puthur in Trichy as they were unable to repay their investors. These women had started a Diwali chit fund in the year 2011 and attracted around 300 investors in the area.They had collected around `9lakh from the investors. As per norms, the chit fund company should have repaid the money with interest or given assured gifts to the investors before Diwali of the year 2012. When the investors pressurize the women, they decided to end their lives and consumed poison. Investors are helpless. This is not the only case there are numerous. Most chit fund investors are the rural poor and or small investors. Neither the victimized investors nor the police bring to book the persons responsible. Only the poor agents remain in place from whom the money cannot be recovered.According to Ministry of Corporate Affairs (MCA), there are 4256 listed or registered chit fund companies which are running their business in the country while India chit-fund association estimates that the country has in total 15000 (register ed and unregistered) companies which manage billions of rupees worth of funds. ShriRam Capital, one of the largest players, operates in four southern states and manages over USD 800 million. Some hope that recent hiccups in India’s once-booming microfinance sector, whose rise was led by microcredit, could bring even more business their way.One can imagine how big the business is all over India. Too many regulators could not stop irregularities in chit funds. Everybody agrees that irregularities need to be stopped because these are causing harm to a lot of small investors. But the question is; who will stop it? In 1978, when the RBI banned chit funds, it came under the ministry of corporate affairs as a collective investment scheme. Another way these companies work is through private placement of the non-convertible debentures or collective investment scheme. In this case, SEBI has the power to regulate it.Sahara and many other big names are in on it. Any debenture or private placement cannot be done by more than 50 people. In contrast, these kinds of companies collect money from thousands of investors. If the number of investors of share and debenture is more than 50, it needs to be registered in the market and the SEBI would control it. RBI wants the state government to take steps: In this context, RBI has a different take. Subbarao, Governor, RBI, has advised the state governments to make their law stronger to save common investors from the chit fund trap.It has written letters to the states to develop a definite action plan to take step against these multi levels marketing player. Subbarao explained that RBI has no power to regulate chit funds. So, it has asked state government to take the initiative to prevent the mushrooming of money market agencies. RBI can train police and other legal bodies about chit funds but cannot instruct the police to do so. It is a state subject to plan and executes the prevention process of chit funds. Corporate Affairs ministry looking into it:Union corporate Affairs Minister Sachin Pilot has said that the central government is looking into the issue of some chit funds and the Ponzi scheme that allegedly dupe small investors by using legal loopholes. It would also encourage state government to take necessary action against these firms. These firms are now misusing the loopholes, pilot added. Furthermore he added, â€Å"Our main objective is to protect small investors from these companies, who are taking their (investors) hard earned money. † As many as 87 companies have come under the scanner for alleged irregularities related to chit fund schemes and money circulations.Minister of State for corporate Affairs R. P. N. Singh has informed the Rajya Sabha that the directions have been issued on the basis of specific complaints received by the ministry against these companies, which are â€Å"alleged to be carrying on activities related to prize chit fund and money circulation in the garb of m ulti-level marketing. Legislative hodgepodge: Singh further said that SFIO (Serious Fraud Investigation Office) has recommended setting up of a specific central regulatory agency for the implementation of the prize chit and money circulation scheme (Banning) act, 1978.The act is administered by the Department of Financial services (DFS) which has constituted an Inter-Ministerial Group consisting of representatives from DFS, Ministry of Corporate Affairs (MCA), RBI, Security and Exchange Board of India (SEBI), Department of Consumer Affairs and Central. Report of Ministry of Corporate Affairs: List of Companies not registered but found doing Chit Business Beware of these Companies. Never join them. M/s. P. V. R. Chits (P) Ltd. , B-50, Flatted Factories, Okhla Phase-III, N. Delhi-20. | M/s. Narmal Chits (P) Ltd. , 1427, Gurudwara Road, Kotla Mubarakpur,N.Delhi-3. | M/s. Sahara Chits (P) Ltd. , WZ/A-49, Krishna Park Extension, N. Delhi-18. | M/s. Twenty Second Century Chit Fund (P) Ltd . , 4205-4206, Sant Nagar, Main Road, Rani Bagh, Delhi-34. | M/s. Skylla Chits (P) Ltd. , D-223/115, Laxmi Chambers, Laxmi Nagar, Delhi-92. | M/s. Hari Vimal Chits (P) Ltd. , Shop No. 8, M. R. Market, Rangpuri, N. Delhi-70. | M/s. Merchant Chits (P) Ltd. , CA-24/2, Tagore Garden, N. Delhi-27. | M/s. Mehar Chits (P) Ltd. , IIIrd Floor, 528, Krishna Gali, Katra Neel, Chandni Chowk, Delhi-6| M/s. Vinamar Chits (P) Ltd. , 170-E, Kamla Nagar, Delhi-7. | M/s.Vinamar Chits (P) Ltd. , 272, Hakikat Nagar, Mall Road, Delhi-9. | M/s. Well King Chits (P) Ltd. , C-47, Acharya Niketan, Mayur Vihar, Phase-I,Delhi-91. | M/s. Aegis Chit Fund (P) Ltd. , E-484, Greater Kailash-II, New Delhi-48. | List of Companies which have been debarred from doing any Chit Fund business in Delhi   NAME| ADDRESS| A. G. CHIT FUND PVT. LTD. |    | ARJIT CHITS PVT. LTD. | | BHAGMAL CHITS PVT. LTD. | | CHOJI PRITAM CHITS PVT. LTD. | | DISHTI CHIT FUND PVT. LTD. | DIRECTOR: Sh. Ajay Pandon| DISHTI CHIT FUND PVT. LTD. | DIRECTOR: Sh. Sudarshan Kapoor| EK-ONKAAR CHIT FUND PVT.LTD. | | EROS FIN. ; CHIT FUND PVT. LTD. | | GIRDHAR CHITS PVT. LTD. | | GOLDEN BENEFIT CHITS PVT. LTD. | | J. KRISHNA CHIT FUND PVT. LTD. | | J. V. CHITS PVT. LTD. | | KADS CHIT FUND PVT. LTD. | | KHAJANA CHITSPVT. LTD. | | LEAN CHITS PVT. LTD. | | MINCO CHITS PVT. LTD. | | NIKETAN CHIT FUND PVT. LTD. | | PARVATI CHIT FUND PVT. LTD. | | PARVEEN CHIT FUND PVT. LTD. | | POMA CHIT FUND PVT. LTD. | | PROSPER CHIT FUND PVT. LTD. | | RITESH CHIT FUND PVT. LTD. | | ROHTGI CHIT FUND PVT. LTD. | | ROYAL CHIT FUND PVT. LTD. | | RUHANI CHIT FUND PVT. LTD. | | S. T. S. CHIT FUND PVT.LTD. | | SAFAL CHIT FUND PVT. LTD. | | SATSANGI CHIT FUND PVT. LTD. | | SIMPLICITY CHIT FUND PVT. LTD. | | SUBHASH NAGAR CHIT FUND PVT. LTD. | | TRI NAGAR CHIT FUND PVT. LTD. | | VEDANTA CHIT FUND PVT. LTD. |    | YOG MAYA CHIT FUND PVT. LTD. |    | PARVARISH LEASING ; FIN. (P) LTD| Shop No. 6, Mafare Garden, New Delhi| M. V. A. CHIT FUND (P) LTD. | Shop No. 10, Krishna Mkt. ,Lajpat Nagar,N. Delhi. | HONOUR CHITS (P) LTD. | 2352, Sevak Bhawan,IIIrd Floor, Shop No. 9,Beadon Pura,Karol Bagh, N. Delhi. | * Source Ministry of corporate AffairsBenefits of Chit funds: Chit Fund is an attractive Investment Option which caters to people from all walks of life. It is specifically beneficial to the Salaried Class, Professionals, Businessmen and Self Employed. The uniqueness of Chit Fund as a method of Financial Planning stems from the fact that, it is both a tool for saving and borrowing. In other words, it serves the dual purpose of being an investment for your savings and in times of need the Subscriber can bid for the Prize Amount in order to meet any unexpected expenditure. The benefits of Investing in Chit Fund are numerous. You can choose how much you want to save per month. Chit funds companies offers chits of various denominations and monthly subscriptions amount ranges from Rs 2500/=(Chit value Rs 1 lakh) to monthly subscription of Rs 1,25,000. * The rate of return is very high compared to other Investment Options and it is also secure form of Investment. * Your Monthly payments will be the Chit Subscription Amount minus the Dividend. The details of the Dividend entitled for Deduction and the Balance Amount payable shall be informed every month, which is mandatory. It inculcates the habit of saving and setting apart a particular amount every month towards investment for a rainy day. * It is good for the Housewife to keep or save their small savings in Chit funds as they will get the money at the time of utmost financial need for household purposes. * It is generally used by housewives, employees of same company, peer groups, friends, and family members or some associations. * If it is used in proper or genuine way then it is makes a worth to invest in chit funds (Organized or unorganized). Drawbacks: Chit-funds do not offer any pre-determined or fixed returns. * Higher returns are earned when there are more nu mber of members in the group or if the duration of the scheme is longer. * One would earn more, when more members need emergency funds. Thus returns cannot be calculated and decided when one joins the scheme. * No security in unregistered chit fund companies. So there are more chances of getting hoax by these fraud companies. * Organizer gets benefited more from your savings. * No guarantee if fixed returns. * In chits interest earnings are lower than Fixed deposits (FD). High degree of risk is associated with chits, so relying on chit funds for saving could be more dangerous. * Chit does not make money; it is just a mechanism for liquidity and emergency funds. * Many chit fund owners are collecting huge volume of money from the common people by making false promises to them. Many poor people of our state are being allured by these chit fund owners and depositing their hard-earned money. But the people are not getting back returns for their investments How to be a Safe investor in C hit Funds:With the plethora of chit fund companies around, the safety of a chit fund lies in choosing the right one. In a registered chit fund company, under legal binding, the activities are regulated and institutionalized by the Chit Fund Act. And hence could be considered safe. However, other unregistered companies operating informally do exist. It has been also seen that depositors are being lured by chit funds companies or firms with higher returns than what banks offer them. These companies are also flourishing in the rural belts where banking penetration is low.One should carefully analyze the pros and cons before making investment in chit funds. Therefore one needs to exercise caution while choosing where he desires to invest. Chit funds definitely are an attractive option for regular saving. It inculcates a disciplined approach to financial planning. It has the added advantage of bringing a combination of savings as well as hassle free borrowing. This dual purpose investmen t tool could be a friend in need at times of unexpected financial emergencies. Thence BE SAFE AND BE SELECTIVE while going for any chit fund schemes. Contemporary Issue on Chit Funds -â€Å"The Invincible† An contemporary issue report on CHIT FUNDS â€Å"THE INVICIBLE† 2013-2014 Made by : Fakhruddin Badshah PREFACE This document sketches the the meaning, introduction, overview,its working,online chit funds, I threw some light on latest news about this sector and also tried to cover the latest upsteram and downsteam aspects of this sector (chit fund companies). My aim of writing on this issue is who will going to stop the fraudulant activities being done by this companies. I chose this segemnt for my contemporay because this is going very common among the people in today’s time.So I thought lets give away the the detail of this segment to the people. With the help of this document people will come to know what exactly going on in this domain. This sector is expanding rapidly like anything. This developments has become a catalyst for the growth of vigourous chit fund companies in all over India. So what provisions should be made to curb the alleged false practices done by t hese companies or segment. Thus it is the to think and act on it to protect the interest of small investors and their hard earned incomes. Index Introduction| 5-7| Overview of chit fund| 8|How chit fund works| 9-11| 2012-2013 Highlighted News about chit-fund| 12-13| Who will stop chit funds? | 14-18| Report of MCA| 18-21| Benefits| 21-22| Drawbacks| 23| Safety from Chit funds| 24| CHIT FUNDS – â€Å"The Invincible† Introduction: A chit fund is a type of savings scheme practiced in India, besides other forms of savings scheme offered by various public and private sector banks, post offices, insurance corporations etc. Chit Funds are indigenous financial institutions in India that cater to the financial needs of the low-income households, which have been excluded from the formal financial system. Chit†, in the legal purview, means a transaction whether called chit, chit fund, chitty, kuri or by any other name by or under which a person enters into an agreement with a specified number of persons that every one of them shall subscribe a certain sum of money (or a certain quantity of grain instead in the case of villages) by way of periodical installments over a definite period and that each such subscriber shall, in his turn, as determined by lot or by auction or by tender or in such other manner as may be specified in the chit agreement, be entitled to the prize amount.In simple words, A chit fund is a savings-borrowing scheme, in which a group of people enter into an agreement to contribute fixed amounts periodically, for a specified period of time. The amount so collected (or the chit value) is distributed among each of the persons in turns, which is determined by way of lots or an auction. Chit funds provide an opportunity to save excess cash on a daily, weekly or monthly basis, and give an easy access to it in case of emergency. Chit funds are the Indian equivalent of the Rotating Savings and Credit Associations (ROSCA) that are famous thr oughout the world.ROSCAs are a means to â€Å"save and borrow† simultaneously. It is considered one of the best instruments to cater to the needs of the poor. It enables poor people to convert their small savings into lump sums. The concept of chit funds originated more than 1000 years ago. Initially it was in the form of an informal association of traders and households within communities, wherein the members contributed some money in return for an accumulated sum at the end of the tenure. Participation in Chit funds was mainly for the purpose of purchasing some property or, in other words, for â€Å"consumption† purposes.However, in recent times, there have been tremendous alterations in the constitution and functioning of Chit funds. While in most places ROSCAs are user-owned and organized informally, in India, chit funds have been formally institutionalized as well. Legally recognized firms provide a variety of chit schemes. A Chit Fund can either be legally regist ered or unregistered. Registered Chit Funds, as the name suggests are being regulated under the various Chit Fund acts. While unregistered Chit Funds are unorganized and mostly run by the close friends, relatives or family members of the investor.Unregistered Chit Funds which exceed 100 ($2) in value are illegal in India, although it is very well known that unregistered Chit Fund industry is very popular in India, mainly in the rural and semi-urban area, where people have very little access to the banking services and where financial illiteracy is more. The regulation of the Chit Fund industry was put in place by the Government of India to address the problem of misuse of informal Chit Funds by unscrupulous promoters and founders running away with the participant’s funds, leaving the members with little recourse to retrieve their money back.Chit funds in India are governed by various state or central laws. Organized chit fund schemes are required to register with the Registra r or Firms, Societies and Chits. Various Chit Fund Acts governing the industry in India are as under: * Union Government – Chit Funds Act 1982 (Except the State of Jammu and Kashmir) * Kerala – Kerala Chitties Act 1975 * Tamil Nadu – Tamil Nadu Chit Funds Act, 1961 * Karnataka: The Chit Funds (Karnataka) Rules, 1983 * Andhra Pradesh – The Andhra Pradesh Chit Funds Act, 1971 * New Delhi- The Chit Funds Act,1982 and Delhi Chit Funds Rules, 2007 * Maharashtra – Maharashtra Chit Fund Act 1975 Uttar Pradesh: Uttar Pradesh Chit Funds Act, 1975 * Goa, Daman & Diu: The Goa, Daman and Diu Chit Funds Act, 1973 * Pudducherry/Pondicherry: The Pondicherry Chit Funds Act, 1966. An overview of chit funds: The economic development of a country depends upon the availability of resources. The main activities that contribute to the growth are production and employment. Production depends upon the inputs of the factors such as finance, raw materials, labor etc. The mo st important here bring finance, which is the chief mobilized of all the factors of production.In a money economy, finance for development initially comes from private savings. These private savings give to the secondary deposits; this is where the financial institutions come into picture. Financial institutions occupy a central place in mobilizing savings from the people and make it available to the trade, commerce and industries either as a capital or loans. The non banking sector comprises of money lenders, indigenous bankers, pawn brokers, nidhis, â€Å"chit funds† etc.The origin of chit funds can be traced way back to the 17th century when the economic wizards of state of Malabar (now known as the state of Kerala) started this activity. Those were the people who actually founded this financial institution. It became so popular and numerous that people started adopting this activity as a profession by the 18th century all over. As the chit industry grew the number of peop le involved in this industry also grew. This gave rise to many misconceptions, frauds, mismanagement etc. , in this industry.To prevent this State Government of Travancore took the first initiative and introduced the first Chit Fund Regulation being the Chit Fund Act 1914. One important regulation introduced by this act was that of a commission payable to the foreman. The Act brought about a ceiling limit on the commission payable to the foreman that is 5% maximum which is still the same even to this date. How chit funds works: Chit funds which are popular from a very long time but still some people don’t know how exactly this chit fund works and invest their money illogically.This can be understood by the following procedure: Let’s say there are 20 people who come together and form a group. Each one will contribute Rs 1,000 per month and this will continue for next 20 months (equal to number of people in the group). In this group there will be one organizer, who will take the pain of fixing the meetings, collecting money from each other and then doing other procedures. So each month all these 20 people will meet on a particular day and deposit Rs 1,000 each. That will make a total of Rs 20,000 every month.Now there will be a bid on who will take this money. Naturally there will be few people who are in need of big amount because of some reason like some big expenses, liquidity crunch, business problem, Beti ki Shaadi etc etc Out of all the people who are in need of money, someone will bid the lowest amount, depending on how desperate he is for this money. The person who bids for the lowest amount wins the bid. Suppose out of total 3 people who bid for 18,000, 17,000 and Rs 16,000, the one who bids the lowest will win.In this case it’s the person who has bid Rs 16,000. There will also be â€Å"organizer charges† which are around 5% (standard) of the total amount, so in this case its 5% of Rs 20,000, which is Rs 1,000. So out of the total 16,000 which this winner was going to get, Rs 1,000 will be deducted and the winner will get only Rs 15,000, Rs 1,000 will be organizer charges and Rs 4,000 is the profit, which will be shared by each and every member (all 20 people), it comes out to be Rs 200 per person, and it will be given back to all 20 members.So here you can see that the main winner took a big loss because of his desperate need of getting the money and others benefitted by it. So each person actually paid just 800, not 1,000 in this case (they got 200 back). Note that when a person takes the money after bidding, he can’t bid from next time, only 19 people will be eligible for bidding. Now next month the same thing happens and suppose the best bid was Rs 18,000 , then winner will get 17,000 (after deducting the organizer fees) and the rest 2,000 will be divided back to people (Rs 100 each) . So each person is paying effectively Rs 900.This way each month all the people contribute the money, someone takes the money by bidding lowest, organizer gets his charges and the rest money is divided back to members. You will realize that the person who takes the money at the end will get all the money except organizer fee, as there is no one else to bid now. So the person will get around Rs 19,000 in the end, if you try to find out the returns which he got out of the whole deal, it will depend on two things, how much lower bids were each month and the fees paid to organizer, if bids and charges are very low, then a person will make more money at the cost of other situations.So this is pretty much how a chit fund works, there are various versions of chit funds and how they work , but the idea was to communicate the basic model and how it works. | Online Chit Funds is also running with pace of E-commerce With the advent of ecommerce in India, Chit funds have also started going online. Online chit funds conduct auctions online and subscribers can pay their monthly dues and receive prize am ount online through online transactions including electronic fund transfers. Each member will have an online account through which they can manage their chit funds. 2012-2013 Highlighted News about chit-fund: . Cunning strict approaches adopted by RBI to protect the investors from delusive acts of chit fund companies. 2. Last year in the month of December, The Reserve Bank of India (RBI) warned all the state governments about the mushrooming of chit funds and also written to them to take appropriate actions against them for duping depositors. 3. RBI Governor Duvvuri Subbarao said, â€Å"The responsibility for checking the chit funds and for prosecuting the violation of law is of the state government. We have written to all the state governments to be vigilant about this and to take appropriate action†. . D Subbarao also called for greater awareness among police and the general public for checking the proliferation of the chit funds in the country. 5. On 6th December 2012, Min ister of State for Corporate Affairs RPN Singh said that 87 companies have come under the scanner for alleged irregularities related to chit fund schemes and money circulation in the garb of multi-level marketing. The Registrar of Companies (RoC) and its Regional Directors have been asked to scrutinize the balance sheets and inspect the books of accounts and other records of these 87 companies. . India's market regulator, Securities and Exchange Board of India (Sebi) had banned companies such as Rose Valley and MPS Greenery Developers from accepting deposits from the public. 7. The former chief minister also pointed it out that small savings through post offices and co-operatives has suffered a lot as many people are depositing their money to these chit funds expecting huge return. 8. In Bhubneshwar, The crime branch told that they are making a short documentary to sensitize people about illegal non-banking financial companies (NBFCs).The film will feature a host of financial manage ment companies like Seashore, Ashore and Saffex, whose irregularities were exposed recently. The Economic offences wing (EOW) of the Crime Branch has registered at least 30 cases against several fraud companies in the past six months for embezzling public deposits after giving them false promise of high return. Senior functionaries (Head) of the companies were arrested and their bank accounts being ceased. 9. EOW also making plan to start a toll free number to protect people from fraudulent activities done by chit fund companies. 10.Government making steps towards the projection of model; rules to check chit fund and MLM (Multi-level Marketing) frauds. The central government will soon make stringent provisions in place, like hefty financial penalty, jail terms, de-listing from the registrar of companies (RoC) roster, among others. Who will stop chit funds In October 2012, a women and her elder daughter were running a chit fund, committed suicide by consuming acid in Puthur in Trichy as they were unable to repay their investors. These women had started a Diwali chit fund in the year 2011 and attracted around 300 investors in the area.They had collected around `9lakh from the investors. As per norms, the chit fund company should have repaid the money with interest or given assured gifts to the investors before Diwali of the year 2012. When the investors pressurize the women, they decided to end their lives and consumed poison. Investors are helpless. This is not the only case there are numerous. Most chit fund investors are the rural poor and or small investors. Neither the victimized investors nor the police bring to book the persons responsible. Only the poor agents remain in place from whom the money cannot be recovered.According to Ministry of Corporate Affairs (MCA), there are 4256 listed or registered chit fund companies which are running their business in the country while India chit-fund association estimates that the country has in total 15000 (register ed and unregistered) companies which manage billions of rupees worth of funds. ShriRam Capital, one of the largest players, operates in four southern states and manages over USD 800 million. Some hope that recent hiccups in India’s once-booming microfinance sector, whose rise was led by microcredit, could bring even more business their way.One can imagine how big the business is all over India. Too many regulators could not stop irregularities in chit funds. Everybody agrees that irregularities need to be stopped because these are causing harm to a lot of small investors. But the question is; who will stop it? In 1978, when the RBI banned chit funds, it came under the ministry of corporate affairs as a collective investment scheme. Another way these companies work is through private placement of the non-convertible debentures or collective investment scheme. In this case, SEBI has the power to regulate it.Sahara and many other big names are in on it. Any debenture or private placement cannot be done by more than 50 people. In contrast, these kinds of companies collect money from thousands of investors. If the number of investors of share and debenture is more than 50, it needs to be registered in the market and the SEBI would control it. RBI wants the state government to take steps: In this context, RBI has a different take. Subbarao, Governor, RBI, has advised the state governments to make their law stronger to save common investors from the chit fund trap.It has written letters to the states to develop a definite action plan to take step against these multi levels marketing player. Subbarao explained that RBI has no power to regulate chit funds. So, it has asked state government to take the initiative to prevent the mushrooming of money market agencies. RBI can train police and other legal bodies about chit funds but cannot instruct the police to do so. It is a state subject to plan and executes the prevention process of chit funds. Corporate Affairs ministry looking into it:Union corporate Affairs Minister Sachin Pilot has said that the central government is looking into the issue of some chit funds and the Ponzi scheme that allegedly dupe small investors by using legal loopholes. It would also encourage state government to take necessary action against these firms. These firms are now misusing the loopholes, pilot added. Furthermore he added, â€Å"Our main objective is to protect small investors from these companies, who are taking their (investors) hard earned money. † As many as 87 companies have come under the scanner for alleged irregularities related to chit fund schemes and money circulations.Minister of State for corporate Affairs R. P. N. Singh has informed the Rajya Sabha that the directions have been issued on the basis of specific complaints received by the ministry against these companies, which are â€Å"alleged to be carrying on activities related to prize chit fund and money circulation in the garb of m ulti-level marketing. Legislative hodgepodge: Singh further said that SFIO (Serious Fraud Investigation Office) has recommended setting up of a specific central regulatory agency for the implementation of the prize chit and money circulation scheme (Banning) act, 1978.The act is administered by the Department of Financial services (DFS) which has constituted an Inter-Ministerial Group consisting of representatives from DFS, Ministry of Corporate Affairs (MCA), RBI, Security and Exchange Board of India (SEBI), Department of Consumer Affairs and Central. Report of Ministry of Corporate Affairs: List of Companies not registered but found doing Chit Business Beware of these Companies. Never join them. M/s. P. V. R. Chits (P) Ltd. , B-50, Flatted Factories, Okhla Phase-III, N. Delhi-20. | M/s. Narmal Chits (P) Ltd. , 1427, Gurudwara Road, Kotla Mubarakpur,N.Delhi-3. | M/s. Sahara Chits (P) Ltd. , WZ/A-49, Krishna Park Extension, N. Delhi-18. | M/s. Twenty Second Century Chit Fund (P) Ltd . , 4205-4206, Sant Nagar, Main Road, Rani Bagh, Delhi-34. | M/s. Skylla Chits (P) Ltd. , D-223/115, Laxmi Chambers, Laxmi Nagar, Delhi-92. | M/s. Hari Vimal Chits (P) Ltd. , Shop No. 8, M. R. Market, Rangpuri, N. Delhi-70. | M/s. Merchant Chits (P) Ltd. , CA-24/2, Tagore Garden, N. Delhi-27. | M/s. Mehar Chits (P) Ltd. , IIIrd Floor, 528, Krishna Gali, Katra Neel, Chandni Chowk, Delhi-6| M/s. Vinamar Chits (P) Ltd. , 170-E, Kamla Nagar, Delhi-7. | M/s.Vinamar Chits (P) Ltd. , 272, Hakikat Nagar, Mall Road, Delhi-9. | M/s. Well King Chits (P) Ltd. , C-47, Acharya Niketan, Mayur Vihar, Phase-I,Delhi-91. | M/s. Aegis Chit Fund (P) Ltd. , E-484, Greater Kailash-II, New Delhi-48. | List of Companies which have been debarred from doing any Chit Fund business in Delhi   NAME| ADDRESS| A. G. CHIT FUND PVT. LTD. |    | ARJIT CHITS PVT. LTD. | | BHAGMAL CHITS PVT. LTD. | | CHOJI PRITAM CHITS PVT. LTD. | | DISHTI CHIT FUND PVT. LTD. | DIRECTOR: Sh. Ajay Pandon| DISHTI CHIT FUND PVT. LTD. | DIRECTOR: Sh. Sudarshan Kapoor| EK-ONKAAR CHIT FUND PVT.LTD. | | EROS FIN. ; CHIT FUND PVT. LTD. | | GIRDHAR CHITS PVT. LTD. | | GOLDEN BENEFIT CHITS PVT. LTD. | | J. KRISHNA CHIT FUND PVT. LTD. | | J. V. CHITS PVT. LTD. | | KADS CHIT FUND PVT. LTD. | | KHAJANA CHITSPVT. LTD. | | LEAN CHITS PVT. LTD. | | MINCO CHITS PVT. LTD. | | NIKETAN CHIT FUND PVT. LTD. | | PARVATI CHIT FUND PVT. LTD. | | PARVEEN CHIT FUND PVT. LTD. | | POMA CHIT FUND PVT. LTD. | | PROSPER CHIT FUND PVT. LTD. | | RITESH CHIT FUND PVT. LTD. | | ROHTGI CHIT FUND PVT. LTD. | | ROYAL CHIT FUND PVT. LTD. | | RUHANI CHIT FUND PVT. LTD. | | S. T. S. CHIT FUND PVT.LTD. | | SAFAL CHIT FUND PVT. LTD. | | SATSANGI CHIT FUND PVT. LTD. | | SIMPLICITY CHIT FUND PVT. LTD. | | SUBHASH NAGAR CHIT FUND PVT. LTD. | | TRI NAGAR CHIT FUND PVT. LTD. | | VEDANTA CHIT FUND PVT. LTD. |    | YOG MAYA CHIT FUND PVT. LTD. |    | PARVARISH LEASING ; FIN. (P) LTD| Shop No. 6, Mafare Garden, New Delhi| M. V. A. CHIT FUND (P) LTD. | Shop No. 10, Krishna Mkt. ,Lajpat Nagar,N. Delhi. | HONOUR CHITS (P) LTD. | 2352, Sevak Bhawan,IIIrd Floor, Shop No. 9,Beadon Pura,Karol Bagh, N. Delhi. | * Source Ministry of corporate AffairsBenefits of Chit funds: Chit Fund is an attractive Investment Option which caters to people from all walks of life. It is specifically beneficial to the Salaried Class, Professionals, Businessmen and Self Employed. The uniqueness of Chit Fund as a method of Financial Planning stems from the fact that, it is both a tool for saving and borrowing. In other words, it serves the dual purpose of being an investment for your savings and in times of need the Subscriber can bid for the Prize Amount in order to meet any unexpected expenditure. The benefits of Investing in Chit Fund are numerous. You can choose how much you want to save per month. Chit funds companies offers chits of various denominations and monthly subscriptions amount ranges from Rs 2500/=(Chit value Rs 1 lakh) to monthly subscription of Rs 1,25,000. * The rate of return is very high compared to other Investment Options and it is also secure form of Investment. * Your Monthly payments will be the Chit Subscription Amount minus the Dividend. The details of the Dividend entitled for Deduction and the Balance Amount payable shall be informed every month, which is mandatory. It inculcates the habit of saving and setting apart a particular amount every month towards investment for a rainy day. * It is good for the Housewife to keep or save their small savings in Chit funds as they will get the money at the time of utmost financial need for household purposes. * It is generally used by housewives, employees of same company, peer groups, friends, and family members or some associations. * If it is used in proper or genuine way then it is makes a worth to invest in chit funds (Organized or unorganized). Drawbacks: Chit-funds do not offer any pre-determined or fixed returns. * Higher returns are earned when there are more nu mber of members in the group or if the duration of the scheme is longer. * One would earn more, when more members need emergency funds. Thus returns cannot be calculated and decided when one joins the scheme. * No security in unregistered chit fund companies. So there are more chances of getting hoax by these fraud companies. * Organizer gets benefited more from your savings. * No guarantee if fixed returns. * In chits interest earnings are lower than Fixed deposits (FD). High degree of risk is associated with chits, so relying on chit funds for saving could be more dangerous. * Chit does not make money; it is just a mechanism for liquidity and emergency funds. * Many chit fund owners are collecting huge volume of money from the common people by making false promises to them. Many poor people of our state are being allured by these chit fund owners and depositing their hard-earned money. But the people are not getting back returns for their investments How to be a Safe investor in C hit Funds:With the plethora of chit fund companies around, the safety of a chit fund lies in choosing the right one. In a registered chit fund company, under legal binding, the activities are regulated and institutionalized by the Chit Fund Act. And hence could be considered safe. However, other unregistered companies operating informally do exist. It has been also seen that depositors are being lured by chit funds companies or firms with higher returns than what banks offer them. These companies are also flourishing in the rural belts where banking penetration is low.One should carefully analyze the pros and cons before making investment in chit funds. Therefore one needs to exercise caution while choosing where he desires to invest. Chit funds definitely are an attractive option for regular saving. It inculcates a disciplined approach to financial planning. It has the added advantage of bringing a combination of savings as well as hassle free borrowing. This dual purpose investmen t tool could be a friend in need at times of unexpected financial emergencies. Thence BE SAFE AND BE SELECTIVE while going for any chit fund schemes.