Money and banking final q's Assignment Example | Topics and Well Written Essays - 1000 words

Money and banking final q's - Assignment Example Allowing the central bank to monopolize the issuance of notes comes with various advantages. The central bank brings uniformity within the monetary system of circulating notes after issuance. Furthermore, the central bank has better capacity to monitor and maintain the supply of money in any country. The result is an increased public confidence in the monetary system. It is also easier to control paper currency. The central bank has adequate knowledge regarding the requirements of economy because of its position as the supreme in any country. With this information, the central bank can alter and regulate the quantity of currency in the system based on requirements. Monopoly in distribution of legal tender by the central bank facilitates the ability to execute development of credit by other commercial banks. When it issues the notes, the central bank earns profit from the fees charged. Finally, allowing the central bank sole monopoly of issuing notes eliminates political interference by granting the institution autonomy. The second function of the central is operating as an agent, banker, and adviser to the government (Bordo, 2009, 434). The central bank carries out same responsibilities as a commercial bank to its clients when acting as a banker to the government. Besides those of the state and county governments, it maintains accounts for the national or central government. It advances short-term loans to the governments, takes deposits from them, and collects cheques drafts from accounts held by the government. In the present society, central banks manage the supply of money. Central banks carry out this responsibility outside the control of politicians with the desire to attain designed goals. Goals are many and include utmost growth, stumpy inflation, as well as attaining high levels of employment. Central banks create or destroy money using

ASIAN HUMANITIES RESEARCH PAPER Example | Topics and Well Written Essays - 1750 words

ASIAN HUMANITIES - Research Paper Example This reinforced Guru Nanak’s conviction in the importance of man and his fate rather than any metaphysical doctrine which classified and segregated people according to a caste system. In the early casteless Sikh community, lower caste Hindus and those considered as â€Å"untouchable†, euphemistically termed as Harijans or God’s people were allowed to become members of the Sikh community (Kapoor 5109). However, over time, through the influence of other already- existing religions such as Hinduism where a rigid caste system prevailed, Sikhs became differentiated into castes and sects. Thesis Statement: The purpose of this paper is to investigate the claim that there is no caste system in Sikhism. Caste differentiations in Britain, the existence of lower caste Sikh communities, and the discriminations they have to face will be identified and examined to prove that caste system does exist among the Sikhs. In the early centuries of its evolution, Sikhism had no differentiation into a hierarchy of caste groups. During the first two hundred years of the Sikh religion beginning from the mid-fifteenth century, a line of Gurus or preceptors guided the community. The tenth in line, Guru Gobind Singh (1666-1708), dissolved the position of the personal Guru, and vested the Gurus’ authority both in the Adi Granth or original book of Sikh scripture, as well as in the Panth or community (Mann 2001). Gradually differentiation into various caste groups emerged in the Punjab in India, the home state of the Sikhs and other Punjabis, and persisted among Sikh communities living in other parts of the world. At the sub-identity level today, caste forms a major divisive factor in Sikhism. However, the majority of Gurudwaras or Sikh places of worship in Britain belong to the Sikh mainstream composed of Jats, they do not discriminate between