Management organisational behaviour

Question: Goal-setting Is widely used In management practice, but is goal-setting all pros and no cons? Discuss both the benefits and the possible downside, or â€Å"darkled† of goal- setting. Introduction Introduce the topic and briefly describe what goal setting is in your own words. Define how we're going to apply goal-setting in the context of an organization Briefly discuss the pros and cons of goal-setting Discuss my point of view- what are the most efficient methods of goal-settings and how can they be applied to an organization or an Individual. Paragraph 1 (What is goal setting? In detail, explain what goal-setting is and define Edwin A.Locker's Goal-setting theory Discuss what factors influence goal setting (E. G Specific, realistic goals work best) Evaluate on how organizations and individuals apply goal-settings Paragraph 2 ( why do we use It? ) Motivation Help you to visualize and plan actions to achieve what you want then carry it out Paragraph 3 (Benefits/Pros) Begin the paragraph with how goal-setting is beneficial as a topic sentence Create a list of key benefits that can be applied to organizations and individuals Gives a path o you know exactly where you are going and what you need to do to get there without procrastinating.Timeliness that consists of smaller milestones, so that it makes the larger goal seem more achievable Set milestones will force you to set prolepses, hence preventing you from getting distracted Organization Goals could be achieved faster and more effectively when it is being broken down into smaller goals and collaborated in a team Obtaining smaller and more frequent milestones will give a sense of achievement that motivates the organization When an organization is working with a client smaller goals allows the client to be always aware of the organizations progress towards the final goal providing a sense of security Individuals Makes you aware of your own strengths and weaknesses Keeps you focused Makes you respo nsible for your own success or failures Improve your self-image Limits your stress Paragraph 4 ( Negatives ) Begin the paragraph with discussing the downsides of goal-setting Create a list of key downsides that can be implied to organizations and individuals Creates a fear of losing ( being criticized) High speed performance may trigger inaccuracy, and lack of details when reaching the final goal.Higher accuracy could be acquired but it happens at a much slower rate, due to focus on improving quality. Organization in goals. Method of achieving that milestone may be different for each individual when it is crucial to work diligently as a team Individual Intense amount of workload may denominate a person into procrastinating once he or she believes that their goal can never be achieved until its deadline (exhaustion) Competition may be used as a catalyst to speed up the rate of achievement, but it ay result in hindered goal accomplishment. Shortage of time may lead workers to apply un systematic methods, being unable to obtain goals ethically or effectively. Paragraph 5 (So how do we use Goal-setting to its maximum capacity? Briefly explain how goal setting is commonly used within organizations Give examples of real life goal orientated organizations and individuals Carefully design timeliness back up plans Paragraph 6 (conclusion) Reintroduce the topic question Summaries each paragraphs What is goal setting? Why do we use goal setting Benefits and downsides How do we use goal setting to its maximum capacity Diaries Plan Week 4 – Starting 18th August Research and collect any available articles about goal-setting using cholesterol, encroach, protest, then start reading Gather brief information on each articles Start writing down basic format of assignment 1 learn how to reference using Harvard or PAPA style referencing Start writing up assignment 1 Week 5 – Starting 25th August Finish with assignment 1 Assignment 1 due on 27th of August Complete full /detailed research from collected resources Week 6 – Starting 3rd SeptemberCollect information for first and second paragraph with Cholesterol, Encroach, and protest – What is Goal-setting? , and why do we use it Have a basic format of how the introduction and second paragraphs will be written Final write up will be conducted later on after collecting all the necessary information Week 7 – Starting 9th September Collect information for paragraph 3 and 4 with Cholesterol, Encroach, and protest – Benefits and Downsides Have a basic format/written guide of how the third and fourth paragraphs will be written Week 8 – Starting 16th September Collect information for paragraph 5 with Cholesterol, Encroach, and protest – How do we use it to maximize its use?Have a basic format/written guide of how the fifth paragraph will be written Start assignment 2 Complete all of the body paragraphs up to the conclusion Start and complete the conclusion Start an d complete the referencing Allow peer review for independent perspectives or for checking grammatical errors Study Break – Starting 1st October Final proof reading of assignment 2 by yourself week 10 – ASSIGNMENT TWO DUE on 7th October Hand in essay via Nipping website before 4:pm Annotated bibliography Lethal, GAP 2004, ‘The motivational benefits of goal setting, Academy of Management Executive, Volvo. 18, no. 4, up. 126-129. The article a researched based on motivation, self- regulation and task management. This research is based on a hypothesis that people who assign tasks for themselves, or have their own set of goals to achieve by certain deadlines would generally outperform those who are assigned tasks by their bosses. In the end however, the researchers discovered that regardless of how the tasks were assigned to a person, the level of commitment was on par.However, people with different traits and personalities might show a great difference of performance quality when a task is assigned to them rather than giving them the freedom of setting their own tasks. Other studies relating to this research were further conducted, and one of them showed that if the difficulty of the task was unchanged, the level of performance was also constant regardless of being assigned to or self-regulated. Although I agree with the author, I disagree with some parts of the article since the level of performance will not stay constant when the difficulty rises. Due to some loss in motivation after being faced with a goal that they know they could never achieve in, some people would rather under achieve than to be disappointed in their results.Locke, EAI & Lethal, GAP 2006, ‘New Directions in Goal Setting Theory, A Journal of the Association for Psychological Science, Volvo. 15, no. 5, up. 265-268 The article is about a relationship between goal-setting and task performance during a 25 year period, based on 400 laboratory and field studies. The method of research involved arranging participants into groups of different level of tasks. For example the American Pulpwood Association experimented on their uneducated, unskilled laborers to see if setting a goal would increase their productivity. Tight deadlines soon lead to a rapid increase in work pace and set goals also motivated the workers to discover the knowledge needed to obtain greater goals.The research illustrated how motivation can be measured from different levels of realistic goals when compared with the level of motivation of having loose deadlines. The data collected higher task performance, whereas easy, vague, and unrealistic goals lead to a decline in and task performance. I agree with this article as having a set goal that is realistic boosts moral and motivation to increase anyone's work performance. Kim, Hammer, Jay S, W. Clay, 1976. Journal of Applied Psychology. Effect of Performance Feedback and Goal Setting on Productivity and Satisfaction in an Organizationa l Setting, 61 , 48-57. The article illustrates how a combination of feedback and goal settings significantly increased the work performance.The research was conducted in four separate plants with service type Jobs, with the majority of the participants whom were blue-collar, and the rest of them being women. Three objective reference measures were accounted for (cost performance, absenteeism, and safety). The results clearly indicate that a combination of goal setting and feedback is far superior to goal setting alone on the cost and safety measures of performance. However, a mix of intrinsic and extrinsic feedbacks would maximize the full capacity of a person's performance level. In my opinion, this article is very accurate since it can be applied to any gender and age. Constructive feedbacks that are both intrinsic and extrinsic is crucial for students to learn where they went wrong in order to perform better in upcoming tasks. Management organisational behaviour Question: Goal-setting Is widely used In management practice, but is goal-setting all pros and no cons? Discuss both the benefits and the possible downside, or â€Å"darkled† of goal- setting. Introduction Introduce the topic and briefly describe what goal setting is in your own words. Define how we're going to apply goal-setting in the context of an organization Briefly discuss the pros and cons of goal-setting Discuss my point of view- what are the most efficient methods of goal-settings and how can they be applied to an organization or an Individual. Paragraph 1 (What is goal setting? In detail, explain what goal-setting is and define Edwin A.Locker's Goal-setting theory Discuss what factors influence goal setting (E. G Specific, realistic goals work best) Evaluate on how organizations and individuals apply goal-settings Paragraph 2 ( why do we use It? ) Motivation Help you to visualize and plan actions to achieve what you want then carry it out Paragraph 3 (Benefits/Pros) Begin the paragraph with how goal-setting is beneficial as a topic sentence Create a list of key benefits that can be applied to organizations and individuals Gives a path o you know exactly where you are going and what you need to do to get there without procrastinating.Timeliness that consists of smaller milestones, so that it makes the larger goal seem more achievable Set milestones will force you to set prolepses, hence preventing you from getting distracted Organization Goals could be achieved faster and more effectively when it is being broken down into smaller goals and collaborated in a team Obtaining smaller and more frequent milestones will give a sense of achievement that motivates the organization When an organization is working with a client smaller goals allows the client to be always aware of the organizations progress towards the final goal providing a sense of security Individuals Makes you aware of your own strengths and weaknesses Keeps you focused Makes you respo nsible for your own success or failures Improve your self-image Limits your stress Paragraph 4 ( Negatives ) Begin the paragraph with discussing the downsides of goal-setting Create a list of key downsides that can be implied to organizations and individuals Creates a fear of losing ( being criticized) High speed performance may trigger inaccuracy, and lack of details when reaching the final goal.Higher accuracy could be acquired but it happens at a much slower rate, due to focus on improving quality. Organization in goals. Method of achieving that milestone may be different for each individual when it is crucial to work diligently as a team Individual Intense amount of workload may denominate a person into procrastinating once he or she believes that their goal can never be achieved until its deadline (exhaustion) Competition may be used as a catalyst to speed up the rate of achievement, but it ay result in hindered goal accomplishment. Shortage of time may lead workers to apply un systematic methods, being unable to obtain goals ethically or effectively. Paragraph 5 (So how do we use Goal-setting to its maximum capacity? Briefly explain how goal setting is commonly used within organizations Give examples of real life goal orientated organizations and individuals Carefully design timeliness back up plans Paragraph 6 (conclusion) Reintroduce the topic question Summaries each paragraphs What is goal setting? Why do we use goal setting Benefits and downsides How do we use goal setting to its maximum capacity Diaries Plan Week 4 – Starting 18th August Research and collect any available articles about goal-setting using cholesterol, encroach, protest, then start reading Gather brief information on each articles Start writing down basic format of assignment 1 learn how to reference using Harvard or PAPA style referencing Start writing up assignment 1 Week 5 – Starting 25th August Finish with assignment 1 Assignment 1 due on 27th of August Complete full /detailed research from collected resources Week 6 – Starting 3rd SeptemberCollect information for first and second paragraph with Cholesterol, Encroach, and protest – What is Goal-setting? , and why do we use it Have a basic format of how the introduction and second paragraphs will be written Final write up will be conducted later on after collecting all the necessary information Week 7 – Starting 9th September Collect information for paragraph 3 and 4 with Cholesterol, Encroach, and protest – Benefits and Downsides Have a basic format/written guide of how the third and fourth paragraphs will be written Week 8 – Starting 16th September Collect information for paragraph 5 with Cholesterol, Encroach, and protest – How do we use it to maximize its use?Have a basic format/written guide of how the fifth paragraph will be written Start assignment 2 Complete all of the body paragraphs up to the conclusion Start and complete the conclusion Start an d complete the referencing Allow peer review for independent perspectives or for checking grammatical errors Study Break – Starting 1st October Final proof reading of assignment 2 by yourself week 10 – ASSIGNMENT TWO DUE on 7th October Hand in essay via Nipping website before 4:pm Annotated bibliography Lethal, GAP 2004, ‘The motivational benefits of goal setting, Academy of Management Executive, Volvo. 18, no. 4, up. 126-129. The article a researched based on motivation, self- regulation and task management. This research is based on a hypothesis that people who assign tasks for themselves, or have their own set of goals to achieve by certain deadlines would generally outperform those who are assigned tasks by their bosses. In the end however, the researchers discovered that regardless of how the tasks were assigned to a person, the level of commitment was on par.However, people with different traits and personalities might show a great difference of performance quality when a task is assigned to them rather than giving them the freedom of setting their own tasks. Other studies relating to this research were further conducted, and one of them showed that if the difficulty of the task was unchanged, the level of performance was also constant regardless of being assigned to or self-regulated. Although I agree with the author, I disagree with some parts of the article since the level of performance will not stay constant when the difficulty rises. Due to some loss in motivation after being faced with a goal that they know they could never achieve in, some people would rather under achieve than to be disappointed in their results.Locke, EAI & Lethal, GAP 2006, ‘New Directions in Goal Setting Theory, A Journal of the Association for Psychological Science, Volvo. 15, no. 5, up. 265-268 The article is about a relationship between goal-setting and task performance during a 25 year period, based on 400 laboratory and field studies. The method of research involved arranging participants into groups of different level of tasks. For example the American Pulpwood Association experimented on their uneducated, unskilled laborers to see if setting a goal would increase their productivity. Tight deadlines soon lead to a rapid increase in work pace and set goals also motivated the workers to discover the knowledge needed to obtain greater goals.The research illustrated how motivation can be measured from different levels of realistic goals when compared with the level of motivation of having loose deadlines. The data collected higher task performance, whereas easy, vague, and unrealistic goals lead to a decline in and task performance. I agree with this article as having a set goal that is realistic boosts moral and motivation to increase anyone's work performance. Kim, Hammer, Jay S, W. Clay, 1976. Journal of Applied Psychology. Effect of Performance Feedback and Goal Setting on Productivity and Satisfaction in an Organizationa l Setting, 61 , 48-57. The article illustrates how a combination of feedback and goal settings significantly increased the work performance.The research was conducted in four separate plants with service type Jobs, with the majority of the participants whom were blue-collar, and the rest of them being women. Three objective reference measures were accounted for (cost performance, absenteeism, and safety). The results clearly indicate that a combination of goal setting and feedback is far superior to goal setting alone on the cost and safety measures of performance. However, a mix of intrinsic and extrinsic feedbacks would maximize the full capacity of a person's performance level. In my opinion, this article is very accurate since it can be applied to any gender and age. Constructive feedbacks that are both intrinsic and extrinsic is crucial for students to learn where they went wrong in order to perform better in upcoming tasks.

Indian Rupee Essay

â€Å"INR† redirects here. For other uses, see INR (disambiguation). For the Malayalam film, see Indian Rupee (film). Indian rupee â‚ ¹| à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¤ ¾ (Hindi)| | ISO 4217 code| INR| Central bank| Reserve Bank of India| Website | www.rbi.org.in| Official user(s)| India| Unofficial user(s)| Bhutan (alongside theBhutanese ngultrum) Nepal (alongside theNepalese rupee)| Inflation| 5.96%, March 2013| Source | Economic Adviser| Method | WPI| Pegged by| Bhutanese ngultrum (at par) Nepalese rupee (1 INR = 1.6 NPR)| Subunit| | 1/100 | Paisa| Symbol| â‚ ¹| Paisa| p| Formerly used symbols and Coins | â‚ ¨, Rs, à ² °Ã  ³â€š, à § ³, à « ±, à ° °Ã  ±â€š, à ¯ ¹, à ¤ °Ã  ¥  .| Nickname| Taka(à § ³), Rupayya, Rupai, Rupees, Rupay, Rupayee| Coins| 50 paise, â‚ ¹1, â‚ ¹2, â‚ ¹5, â‚ ¹10| Banknotes| â‚ ¹5, â‚ ¹10, â‚ ¹20, â‚ ¹50, â‚ ¹100, â‚ ¹500, â‚ ¹1000| Printer| Reserve Bank of India| Website | www.rbi.org.in| Mint| India Government Mint| Website | www.spmcil.com| The Indian rupee (sign: â‚ ¹; code: INR) is the official currency of the Republic of India. The issuance of the currency is controlled by the Reserve Bank of India.[1] The modern rupee is subdivided into 100 paise (singular paisa), though as of 2011 only 50-paise coins are legal tender.[2][3] Banknotes in circulation come in denominations of â‚ ¹5, â‚ ¹10, â‚ ¹20, â‚ ¹50, â‚ ¹100, â‚ ¹500 and â‚ ¹1000. Rupee coins are available in denominations of â‚ ¹1, â‚ ¹2, â‚ ¹5, â‚ ¹10, â‚ ¹100 and â‚ ¹1000; of these, the â‚ ¹100 and â‚ ¹1000 coins are  for commemorative purposes only; the only other rupee coin has a nominal value of 50 paise, since lower denominations have been officially withdrawn. The Indian rupee symbol ‘â‚ ¹Ã¢â‚¬â„¢ (officially adopted in 2010) is derived from the Devanagari consonant â€Å"à ¤ °Ã¢â‚¬  (Ra) and the Latin letter â€Å"R†. The first series of coins with the rupee symbol was launched on 8 Ju ly 2011. The Reserve Bank manages currency in India and derives its role in currency management on the basis of the Reserve Bank of India Act, 1934. Recently RBI launched a website Paisa-Bolta-Hai to raise awareness of counterfeit currency among users of the INR. Contents [hide] * 1 Etymology * 2 Design * 3 Numeral system * 4 History * 4.1 Indias * 4.2 Straits Settlements * 4.3 International use * 5 Coins * 5.1 East India Company, 1835 * 5.2 Regal issues, 1862–1947 * 5.3 Independent predecimal issues, 1950–1957 * 5.4 Independent decimal issues, 1957– * 5.5 Special coins * 6 Banknotes * 6.1 British India * 6.2 Independent issues since 1949 * 6.3 Current banknotes * 7 Languages * 8 Minting * 9 Security features * 10 Convertibility * 10.1 Chronology * 11 Exchange rates * 11.1 Historic exchange rates * 11.2 Banknotes and coins in circulation * 11.3 Current exchange rates * 12 See also * 13 References * 14 External links ————————————————- Etymology[edit source | editbeta] The word â€Å"rupee† was derived from the Sanskrit word raupyak, meaning â€Å"silver†. This is similar to the British Pound-Sterling, in which the term ‘sterling’ means ‘silver’. 1. à ª °Ã  «â€šÃ  ª ªÃ  ª ¿Ã  ª ¯Ã  «â€¹ (rupiyo) in Gujarati 2. à ¦Å¸Ã  ¦â€¢Ã  ¦ ¾ (tà ´ka) in Assamese 3. à ¦Å¸Ã  ¦ ¾Ã  ¦â€¢Ã  ¦ ¾ (taka) in Bengali 4. à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¤ ¾ (rupayÄ ) in Hindi 5. Ø ±Ã™Ë†Ã™ ¾Ã›â€™ (pronounced ropyih) in Kashmiri 6. à ² °Ã  ³â€šÃ  ² ªÃ  ² ¾Ã  ² ¯Ã  ² ¿ (rÃ… «pÄ yi) in Kannada, Tulu and Konkani 7. à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¤ ¾ (rupayÄ ) in Konkani 8. à ´ °Ã  µâ€šÃ  ´ ª (rÃ… «pÄ ) in Malayalam 9. à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¤ ¾ (rupayÄ ) in Marathi 10. à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¿Ã  ¤ ¯Ã  ¤ ¾Ã  ¤ (rupiya) in Nepali 11. à ¬Å¸Ã  ¬â„¢Ã  ­ Ã  ¬â€¢Ã  ¬ ¾(tanka) in Oriya 12. à ¨ °Ã  © Ã  ¨ ªÃ  ¨Ë†Ã  ¨â€  (rupiÄ ) in Punjabi 13. à ¤ °Ã  ¥â€šÃ  ¤ ªÃ  ¥ Ã  ¤ ¯Ã  ¤â€¢Ã  ¤ ®Ã  ¥  (rÃ… «pyakam) in Sanskrit (Devnagari) 14. à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¿Ã  ¤ ¯Ã  ¥â€¹ (rupiyo) in Sindhi 15. à ® °Ã  ¯â€šÃ  ® ªÃ  ® ¾Ã  ® ¯Ã  ¯  (rÃ… «pÄ i) in Tamil 16. à ° °Ã  ±â€šÃ  ° ªÃ  ° ¾Ã  ° ¯Ã  ° ¿ (rÃ… «pÄ yi) in Telugu 17. Ø ±Ã™Ë†Ã™ ¾Ã›â€™ (rupay) in Urdu However, in the Assam, West Bengal, Tripura and Odisha the Indian rupee is officially known by names derived from the word à ¤Å¸Ã  ¤â„¢Ã  ¥ Ã  ¤â€¢ (á ¹ ­aá ¹â€¡kÄ ), which means â€Å"money†.[4] Thus, the rupee is called à ¦Å¸Ã  ¦â€¢Ã  ¦ ¾ (á ¹ ­Ãƒ ´kÄ ) in Assamese, à ¦Å¸Ã  ¦ ¾Ã  ¦â€¢Ã  ¦ ¾ (á ¹ ­Ã„ kÄ ) in Bengali and à ¬Å¸Ã  ¬â„¢Ã  ­ Ã  ¬â€¢Ã  ¬ ¾ (á ¹ ­aá ¹â€¡kÄ ) in Oriya. The amount (and the word â€Å"rupee†) is, accordingly, written on the front of Indian banknotes in English and Hindi, whilst on the back the name is listed, in English alphabetical order,[5] in 15 other Indian languages[6] ————————————————- Design[edit source | editbeta] The new sign (â‚ ¹) is a combination of the Devanagari letter â€Å"à ¤ °Ã¢â‚¬  (ra) and the Latin capital letter â€Å"R† without its vertical bar (similar to the R rotunda). The parallel lines at the top (with white space between them) are said to make an allusion to the tricolour Indian flag.[7] and also depict an equality sign that symbolises the nation’s desire to reduce economic disparity. It was designed at theNational Institute of Design ————————————————- Numeral system[edit source | editbeta] Main article: Indian numbering system The Indian numeral system is based on the decimal system, with two notable differences from Western systems using long and short scales. The system is ingrained in everyday monetary transactions in the Indian subcontinent. Indian semantic| International semantic| Indian comma placement| International comma placement| 1 lakh| 100 thousand| 1,00,000| 100,000| 10 lakhs| 1 million| 10,00,000| 1,000,000| 1 crore| 10 million| 1,00,00,000| 10,000,000| 10 crores| 100 million| 10,00,00,000| 100,000,000| 1 Arab| 1 billion| 1,00,00,00,000| 1,000,000,000| 10 Arabs| 10 billion| 10,00,00,00,000| 10,000,000,000| 1 kharab| 100 billion| 1,00,00,00,00,000| 100,000,000,000| 10 kharabs| 1 trillion| 10,00,00,00,00,000| 1,000,000,000,000| 1 padam(shankh)| 10 trillion| 1,00,00,00,00,00,000| 10,000,000,000,000| 10 padams(shankhs)| 100 trillion| 10,00,00,00,00,00,000| 100,000,000,000,000| * Note that in practice, use of Arab, kharab, padam is rare. In modern usage, 1 Arab would be 100 crores. For example, the amount â‚ ¹3,25,84,729.25 is read as â€Å"three crore, twenty-five lakh, eighty-four thousand, seven hundred twenty-nine rupees and twenty-five paise†. The use of millions (or billions, trillions, etc.) in the Indian subcontinent is very rare. ————————————————- History[edit source | editbeta] Main article: History of the rupee Indias[edit source | editbeta] Silver punch mark coin of the Maurya empire, known as Rupyarupa, 3rd century BCE. Historically, the rupee (derived from the Sanskrit word raupya), was a silver coin. This had severe consequences in the nineteenth century, when the strongest economies in the world were on the gold standard. The discovery of large quantities of silver in the United States and several European colonies resulted in a decline in the value of silver relative to gold, devaluing India’s standard currency. This event was known as â€Å"the fall of the rupee†. The history of the Indian rupee traces back to Ancient India in circa 6th century BC, ancient India was one of the earliest issuers of coins in the world,[8]along with the Chinese wen and Lydian staters. The Hindi word rÃ… «piya is derived form Sanskrit word rÃ… «pya, which means â€Å"wrought silver, a coin of silver†,[9] in origin an adjective meaning â€Å"shapely†, with a more specific meaning of â€Å"stamped, impressedà ¢â‚¬ , whence â€Å"coin†. It is derived from the noun rÃ… «pa â€Å"shape, likeness, image†. The word rÃ… «pa is being further identified as having sprung from the Dravidian â€Å". Arthashastra, written by Chanakya, prime minister to the first Maurya emperor Chandragupta Maurya(c. 340-290 BCE), mentions silver coins asrupyarupa, other types of coins including gold coins (Suvarnarupa), copper coins ( Tamararupa) and lead coins (Sisarupa) are also mentioned. Rupa means form or shape, example, Rupyarupa, Rupya – wrought silver, rupa – form.[10] During his five-year rule from 1540 to 1545, he set up a new civic and military administration, Afghan king Sher Shah Suri issued a coin of silver, weighing 178 grains, which was termed theRupiya.[9][11] The silver coin remained in use during the Mughal period, Maratha era as well as in British India.[12] Among the earliest issues of paper rupees include; the Bank of Hindustan (1770–1832), the General Bank of Bengal and Bihar (1773–75, established by Warren Hastings), and the Bengal Bank (1784–91). Rupiya issued by Sher Shah Suri, 1540–1545 CE India was unaffected by the imperial order-in-council of 1825, which attempted to introduce British sterling coinage to the British colonies. British India, at that time, was controlled by the British East  India Company. The silver rupee continued as the currency of India through the British Raj and beyond. In 1835, British India adopted a mono-metallic silver standard based on the rupee; this decision was influenced by a letter written by Lord Liverpool in 1805 extolling the virtues of mono-metallism. Following the Indian Mutiny in 1857, the British government took direct control of British India. Since 1851, gold sovereigns were produced en masse at the Royal Mint in Sydney, New South Wales. In an 1864 attempt to make the British gold sovereign the â€Å"imperial coin†, the treasuries in Bombay andCalcutta were instructed to receive gold sovereigns; however, these gold sovereigns never left the vaults. As the British government gave up hope of replacing the rupee in India with the pound sterling, it realized for the same reason it could not replace the silver dollar in the Straits Settlements with the Indian rupee (as the British East India Company had desired). Since the silver crisis of 1873, a number of nations adopted the gold standard; however, India remained on the silver standard until it was replaced by a basket of commodities and currencies in the late 20th century.[citation needed] The Indian rupee replaced the Danish Indian rupee in 1845, the French Indian rupee in 1954 and the Portuguese Indian escudo in 1961. Following the independence of British India in 1947 and theaccession of the princely states to the new Union, the Indian rupee replaced all the currencies of the previously autonomous states (although the Hyderabadi rupee was not demonetised until 1959).[13] Some of the states had issued rupees equal to those issued by the British (such as the Travancore rupee). Other currencies (including the Hyderabadi rupee and the Kutch kori) had different values. One-rupee banknote Obverse of a one-rupee note issued by the Government of India. The values of the subdivisions of the rupee during British rule (and in the first decade of independence) were: * 1 rupee = 16 anna (later 100 naye paise) * 1 artharupee = 8 anna, or 1/2 rupee (later 50 naye paise) * 1 pavala = 4 anna, or 1/4 rupee (later 25 naye paise) * 1 beda = 2 anna, or 1/8 rupee (later equivalent to 12.5 naye paise) * 1 anna = 1/16 rupee (later equivalent to 6.25 naye paise) * 1 paraka = 1/2 anna (later equivalent to 3.125 naye paise) * 1 kani (pice) = 1/4 anna (later equivalent to 1.5625 naye paise) * 1 damidi (pie) = 1/12 anna (later equivalent to 0.520833 naye paise) In 1957, the rupee was decimalised and divided into 100 naye paise (Hindi for â€Å"new paise†); in 1964, the initial â€Å"naye† was dropped. Many still refer to 25, 50 and 75 paise as 4, 8 and 12 annas respectively, similar to the usage of â€Å"two bits† in American English for a quarter-dollar. Straits Settlements[edit source | editbeta] The Straits Settlements were originally an outlier of the British East India Company. The Spanish dollar had already taken hold in the Settlements by the time the British arrived during the 19th century; however, the East India Company tried to replace it with the rupee. This attempt was resisted by the locals; by 1867 (when the British government took over direct control of the Straits Settlements from the East India Company), attempts to introduce the rupee were finally abandoned. International use[edit source | editbeta] See also: Pakistani rupee With the Partition the Pakistani rupee came into existence, initially using Indian coins and Indian currency notes simply overstamped with â€Å"Pakistan†. Previously the Indian rupee was an official currency of other countries, including Aden, Oman, Dubai, Kuwait, Bahrain, Qatar, the Trucial States, Kenya, Tanganyika, Uganda, the Seychelles and Mauritius. The Indian government introduced the Gulf rupee – also known as the Persian Gulf rupee (XPGR) – as a replacement for the Indian rupee for circulation outside the country with the Reserve Bank of India (Amendment) Act of 1 May 1959. The creation of a separate currency was an attempt to reduce the strain on India’s foreign reserves from gold smuggling. After India devalued the rupee on 6 June 1966, those countries still using it – Oman, Qatar, and the Trucial States (which became the United Arab Emirates in 1971) – replaced the Gulf rupee with their own currencies. Kuwait and Bahrain had already done so in 1961 and 1965, respectively. The Bhutanese ngultrum is pegged at par with the Indian rupee; both currencies are accepted in Bhutan. The Nepalese rupee is pegged at â‚ ¹0.625; the Indian rupee is accepted in  Nepal, except â‚ ¹500 and â‚ ¹1000 banknotes, which are not legal tender in Nepal. Sri Lanka’s rupee is not currently related to that of India; it is pegged to the US dollar.[14] ————————————————- Coins[edit source | editbeta] Main article: Modern Indian coins East India Company, 1835[edit source | editbeta] The three Presidencies established by the British East India Company (Bengal, Bombay and Madras) each issued their own coinages until 1835. All three issued rupees and fractions thereof down to 1⠁„8- and 1⠁„16-rupee in silver. Madras also issued two-rupee coins. Copper denominations were more varied. Bengal issued one-pie, 1⠁„2-, one- and two-paise coins. Bombay issued 1-pie, 1⠁„4-, 1⠁„2-, 1-, 11⠁„2-, 2- and 4-paise coins. In Madras there were copper coins for two and four pies and one, two and four paisa, with the first two denominated as 1⠁„2 and one dub (or 1⠁„96 and 1⠁„48) rupee. Madras also issued the Madras fanam until 1815. All three Presidencies issued gold mohurs and fractions of mohurs including 1⠁„16, 1⠁„2, 1⠁„4 in Bengal, 1⠁„15 (a gold rupee) and 1⠁„3 (pancia) in Bombay and 1⠁„4, 1⠁„3 and 1⠁„2 in Madras. In 1835, a single coinage for the EIC was introduced. It consisted of copper 1⠁„ 12, 1⠁„4 and 1⠁„2 anna, silver 1⠁„4, 1⠁„3 and 1 rupee and gold 1 and 2 mohurs. In 1841, silver 2 annas were added, followed by copper 1⠁„2 pice in 1853. The coinage of the EIC continued to be issued until 1862, even after the Company had been taken over by the Crown. Regal issues, 1862–1947[edit source | editbeta] Regal issue minted during the reign ofKing/Emperor George V. In 1862, coins were introduced (known as â€Å"regal issues†) which bore the portrait of Queen Victoria and the designation â€Å"India†. Their denominations were1⠁„12 anna, 1⠁„2 pice, 1⠁„4 and 1⠁„2 anna (all in copper), 2 annas, 1⠁„4, 1⠁„2 and one rupee (silver), and five and ten rupees and one mohur (gold). The gold denominations ceased production in 1891, and no 1⠁„2-anna coins were issued after 1877. In 1906, bronze replaced copper for the lowest three denominations; in 1907, a cupro-nickel one-anna coin was introduced. In 1918–1919 cupro-nickel two-, four- and eight-annas were  introduced, although the four- and eight-annas coins were only issued until 1921 and did not replace their silver equivalents. In 1918, the Bombay mint also struck gold sovereigns and 15-rupee coins identical in size to the sovereigns as an emergency measure during to the First World War. In the early 1940s, several changes were implemented. The 1⠁„12 anna and 1⠁„2 pice ceased production, the 1⠁„4 anna was changed to a bronze, holed coin, cupro-nickel and nickel-brass 1⠁„2-anna coins were introduced, nickel-brass was used to produce some one- and two-annas coins, and the silver composition was reduced from 91.7 to 50 percent. The last of the regal issues were cupro-nickel 1⠁„4-, 1⠁„2- and one-rupee pieces minted in 1946 and 1947, bearing the image of George VI, King and Emperor on the obverse and an Indian tiger on the reverse.. Independent predecimal issues, 1950–1957[edit source | editbeta] Indian one pice, minted in 1950 India’s first coins after independence were issued in 1950 in 1 pice, 1⠁„2, one and two annas, 1⠁„4, 1⠁„2 and one-rupee denominations. The sizes and composition were the same as the final regal issues, except for the one-pice (which was bronze, but not holed). Independent decimal issues, 1957–[edit source | editbeta] In 1964, India introduced aluminium coins for denominations up to 20p. The first decimal-coin issues in India consisted of 1, 2, 5, 10, 25 and 50 naye paise, and 1 rupee. The 1 naya paisa was bronze; the 2, 5 & 10 naye paise were cupro-nickel, and the 25 naye paise (nicknamed chavanni; 25 naye paise equals 4 annas), 50 naye paise (also called athanni; 50 naye paise equaled 8 old annas) and 1-rupee coins were nickel. In 1964, the word naya(e) was removed from all coins. Between 1964 and 1967, aluminum one-, two-, three-, five- and ten-paise coins were introduced. In 1968 nickel-brass 20-paise coins were introduced, and replaced by aluminum coins in 1982. Between 1972 and 1975, cupro-nickel replaced nickel in the 25- and 50-paise and the 1-rupee coins; in 1982, cupro-nickel two-rupee coins were introduced. In 1988 stainless steel 10-, 25- and 50-paise coins were introduced, followed by 1- and 5-rupee coins in 1992. Five-rupee coins, made frombrass, are being minted by the Reserve Bank of India (RBI). Between 2005  and 2008 new, lighter fifty-paise, one-, two- and five-rupee coins were introduced, made from ferritic stainless steel. The move was prompted by the melting-down of older coins, whose face value was less than their scrap value. The demonetization of the 25-(chavanni)paise coin and all paise coins below it took place, and a new series of coins (50 paise – nicknamed athanni – one, two, five and ten rupees, with the new rupee symbol) were put into circulation in 2011. Coins commonly in circulation are one, two, five and ten rupees.[15][16] Although it is still legal tender, the 50-paise (athanni) coin is rarely seen in circulation.[17] Circulating Coins [15][18]| Value| Technical parameters| Description| Year of| | Diameter| Mass| Composition| Shape| Obverse| Reverse| First minting| Last minting| 50 paise| 19 mm| 3.79 g| Ferritic stainless steel| Circular| Emblem of India| Value, the word â€Å"PAISE† in English and Hindi, floral motif and year of minting| 2011| | 50 paise| 22 mm| 3.79 g| Ferritic stainless steel| Circular| Emblem of India| Value, hand in a fist| 2008| | â‚ ¹1| 25 mm| 4.85 g| Ferritic stainless steel| Circular| Emblem of India, value| Value, two stalks of wheat| 1992| | â‚ ¹1| 25 mm| 4.85 g| Ferritic stainless steel| Circular| Emblem of India| Value, hand showing thumb (an expression in the Bharata Natyam Dance)| 2007| | â‚ ¹1| 22 mm| 3.79 g| Ferritic stainless steel| Circular| Emblem of India| Value, new rupee sign, floral motif and year of minting| 2011| | â‚ ¹2| 26 mm| 6 g| Cupro-Nickel| Eleven Sided| Emblem of India, Value| National integration| 1982| | â‚ ¹2| 27 mm| 5.62 g| Ferritic stainless steel| Circular| Emblem of India, year of minting| Value, hand showing two fingers (Hasta Mudra – hand gesture from the dance Bharata Natyam)| 2007| | â‚ ¹2| 25 mm| 4.85 g| Ferritic stainless steel| Circular| Emblem of India| Value, new rupee sign, floral motif and year of minting| 2011| | â‚ ¹5| 23 mm| 9 g| Cupro-Nickel| Circular| Emblem of India| Value| 1992| | â‚ ¹5| 23 mm| 6 g| Ferritic stainless steel| Circular| Emblem of India| Value, wavy lines| 2007| | â‚ ¹5| 23 mm| 6 g| Brass| Circular| Emblem of India| Value, wavy lines| 2009| | â‚ ¹5| 23 mm| 6 g| Nickel- Brass| Circular| Emblem of India| Value, new rupee sign, floral motif and year of minting| 2011| | â‚ ¹10|  27 mm| 5.62 g| Bimetallic| Circular| Emblem of India with value| Value, wavy lines| 2006| | â‚ ¹10| 27 mm| 5.62 g| Bimetallic| Circular| Emblem of India and year of minting| Value with outward radiating pattern, new rupee sign| 2011| | The coins are minted at the four locations of the India Government Mint. The â‚ ¹1, â‚ ¹2, and â‚ ¹ 5 coins have been minted since independence. Coins minted with the â€Å"hand picture† were minted from 2005 onwards. Special coins[edit source | editbeta] After independence, the Government of India mint, minted coins imprinted with Indian statesmen, historical and religious figures. In year 2010 for the first time ever â‚ ¹75, â‚ ¹150 and â‚ ¹1000 coins were minted in India to commemorate Reserve Bank of India’s Platinum jubilee, 150th birth anniversary of Rabindra Nath Tagore and 1000 years of Brihadeeswarar Temple, respectively. ————————————————- Banknotes[edit source | editbeta] The design of banknotes is approved by the central government, on the recommendation of the central board of the Reserve Bank of India.[1] Currency notes are printed at the Currency Note Press in Nashik, the Bank Note Press in Dewas, the Bharatiya Note Mudra Nigam (P) presses at Salboni and Mysore and at the Watermark Paper Manufacturing Mill in Hoshangabad. The current series of banknotes (which began in 1996) is known as the Mahatma Gandhi series. Banknotes are issued in the denominations of â‚ ¹5, â‚ ¹10, â‚ ¹20, â‚ ¹50, â‚ ¹100, â‚ ¹500 and â‚ ¹1000. The printing of â‚ ¹5 notes (which had stopped earlier) resumed in 2009. ATMs usually distribute â‚ ¹100, â‚ ¹500 and â‚ ¹1,000 notes. The zero rupee note is not an official government issue, but a symbol of protest; it is printed (and distributed) by an NGO in India. British India[edit source | editbeta] British Indian ten rupee note British Indian one rupee note In 1861, the government of India introduced its first paper money: â‚ ¹10 notes in 1864, â‚ ¹5 notes in 1872, â‚ ¹10,000 notes in 1899, â‚ ¹100 notes in 1900, 50-rupee notes in 1905, 500-rupee notes in 1907 and 1000-rupee notes in  1909. In 1917, 1- and 21⠁„2-rupee notes were introduced. The Reserve Bank of India began banknote production in 1938, issuing â‚ ¹2, â‚ ¹5, â‚ ¹10, â‚ ¹50, â‚ ¹100, â‚ ¹1,000 and â‚ ¹10,000 notes while the government continued issuing â‚ ¹1 notes. Independent issues since 1949[edit source | editbeta] After independence, new designs were introduced to replace the portrait of the king. The government continued issuing the â‚ ¹1note, while the Reserve Bank issued other denominations (including the â‚ ¹5,000 and â‚ ¹10,000 notes introduced in 1949). During the 1970s, â‚ ¹20 and â‚ ¹50 notes were introduced; denominations higher than â‚ ¹100 were demonetised in 1978. In 1987 the 500-rupee note was introduced, followed by the â‚ ¹1,000 note in 2000. â‚ ¹1 and â‚ ¹2 notes were discontinued in 1995. In September 2009, the Reserve Bank of India decided to introduce polymer banknotes on a trial basis. Initially, 100 crore (1 billion) pieces of polymer â‚ ¹10 notes will be introduced.[19] According to Reserve Bank officials, the polymer notes will have an average lifespan of five years (four times that of paper banknotes) and will be difficult to counterfeit; they will also be cleaner than paper notes. Current banknotes[edit source | editbeta] Main article: Mahatma Gandhi Series (banknotes) Mahatma Gandhi series â‚ ¹1000 banknote with the portrait of Mahatma Gandhi The Mahatma Gandhi series of banknotes are issued by the Reserve Bank of India as legal tender. The series is so named because the obverse of each note features a portrait of Mahatma Gandhi. Since its introduction in 1996, this series has replaced all issued banknotes. The RBI introduced the series in 1996 with â‚ ¹10 and â‚ ¹500 banknotes. At present, the RBI issues banknotes in denominations from â‚ ¹5 to â‚ ¹1,000. The printing of â‚ ¹5 notes (which had stopped earlier) resumed in 2009. As of January 2012, the new ‘â‚ ¹Ã¢â‚¬â„¢ sign has been incorporated into banknotes in denominations of â‚ ¹10, â‚ ¹20, â‚ ¹50, â‚ ¹100, â‚ ¹500 and â‚ ¹1,000.[20][21][22][23] ————————————————- Languages[edit source | editbeta] Each banknote has its amount written in 17 languages. On the obverse, the denomination is written in English and Hindi. On the reverse is a language  panel which displays the denomination of the note in 15 of the 22 official languages of India. The languages are displayed in alphabetical order. Languages included on the panel are Assamese, Bengali, Gujarati, Kannada, Kashmiri, Konkani, Malayalam, Marathi, Nepali, Oriya, Punjabi, Sanskrit,Tamil, Telugu and Urdu. Denominations in various languages| Language| â‚ ¹1| â‚ ¹2| â‚ ¹5| â‚ ¹10| â‚ ¹20| â‚ ¹50| â‚ ¹100| â‚ ¹500| â‚ ¹1000| English| One rupee| Two rupees| Five rupees| Ten rupees| Twenty rupees| Fifty rupees| Hundred rupees| Five hundred rupees| One thousand rupees| Assamese| à ¦ Ã  ¦â€¢ à ¦Å¸Ã  ¦â€¢Ã  ¦ ¾| à ¦ ¦Ã  § Ã  ¦â€¡ à ¦Å¸Ã  ¦â€¢Ã  ¦ ¾| à ¦ ªÃ  ¦ ¾Ã  ¦ Ã  ¦Å¡ à ¦Å¸Ã  ¦â€¢Ã  ¦ ¾| à ¦ ¦Ã  ¦ ¹ à ¦Å¸Ã  ¦â€¢Ã  ¦ ¾| à ¦ ¬Ã  ¦ ¿Ã  ¦â€º à ¦Å¸Ã  ¦â€¢Ã  ¦ ¾| à ¦ ªÃ  ¦Å¾Ã  § Ã  ¦Å¡Ã  ¦ ¾Ã  ¦ ¶ à ¦Å¸Ã  ¦â€¢Ã  ¦ ¾| à ¦ Ã  ¦ ¶ à ¦Å¸Ã  ¦â€¢Ã  ¦ ¾| à ¦ ªÃ  ¦ ¾Ã  ¦ Ã  ¦Å¡Ã  ¦ ¶ à ¦Å¸Ã  ¦â€¢Ã  ¦ ¾| à ¦ Ã  ¦â€¢ à ¦ ¹Ã  ¦ ¾Ã  ¦Å"à ¦ ¾Ã  § ° à ¦Å¸Ã  ¦â€¢Ã  ¦ ¾| Bengali| à ¦ Ã  ¦â€¢ à ¦Å¸Ã  ¦ ¾Ã  ¦â€¢Ã  ¦ ¾| à ¦ ¦Ã  § Ã  ¦â€¡ à ¦Å¸Ã  ¦ ¾Ã  ¦â€¢Ã  ¦ ¾| à ¦ ªÃ  ¦ ¾Ã  ¦ Ã  ¦Å¡ à ¦Å¸Ã  ¦ ¾Ã  ¦â€¢Ã  ¦ ¾| à ¦ ¦Ã  ¦ ¶ à ¦Å¸Ã  ¦ ¾Ã  ¦â€¢Ã  ¦ ¾| à ¦â€¢Ã  § Ã  ¦ ¡Ã  ¦ ¼Ã  ¦ ¿ à ¦Å¸Ã  ¦ ¾Ã  ¦â€¢Ã  ¦ ¾| à ¦ ªÃ  ¦Å¾Ã  § Ã  ¦Å¡Ã  ¦ ¾Ã  ¦ ¶ à ¦Å¸Ã  ¦ ¾Ã  ¦â€¢Ã  ¦ ¾| à ¦ ¶Ã  ¦ ¤ à ¦Å¸Ã  ¦ ¾Ã  ¦â€¢Ã  ¦ ¾| à ¦ ªÃ  ¦ ¾Ã  ¦ Ã  ¦Å¡Ã  ¦ ¶Ã  ¦ ¤ à ¦Å¸Ã  ¦ ¾Ã  ¦â€¢Ã  ¦ ¾| à ¦ Ã  ¦â€¢ à ¦ ¹Ã  ¦ ¾Ã  ¦Å"à ¦ ¾Ã  ¦ ° à ¦Å¸Ã  ¦ ¾Ã  ¦â€¢Ã  ¦ ¾| Gujarati| à ª Ã  ªâ€¢ à ª °Ã  «â€šÃ  ª ªÃ  ª ¿Ã  ª ¯Ã  «â€¹| à ª ¬Ã  «â€¡ à ª °Ã  «â€šÃ  ª ªÃ  ª ¿Ã  ª ¯Ã  ª ¾| à ª ªÃ  ª ¾Ã  ªâ€šÃ  ªÅ¡ à ª °Ã  «â€šÃ  ª ªÃ  ª ¿Ã  ª ¯Ã  ª ¾| à ª ¦Ã  ª ¸ à ª °Ã  «â€šÃ  ª ªÃ  ª ¿Ã  ª ¯Ã  ª ¾| à ª µÃ  «â‚¬Ã  ª ¸ à ª °Ã  «â€šÃ  ª ªÃ  ª ¿Ã  ª ¯Ã  ª ¾| à ª ªÃ  ªÅ¡Ã  ª ¾Ã  ª ¸ à ª °Ã  «â€šÃ  ª ªÃ  ª ¿Ã  ª ¯Ã  ª ¾| à ª ¸Ã  «â€¹ à ª °Ã  «â€šÃ  ª ªÃ  ª ¿Ã  ª ¯Ã  ª ¾| à ª ªÃ  ª ¾Ã  ªâ€šÃ  ªÅ¡ à ª ¸Ã  «â€¹ à ª °Ã  «â€šÃ  ª ªÃ  ª ¿Ã  ª ¯Ã  ª ¾| à ª Ã  ªâ€¢ à ª ¹Ã  ªÅ"à ª ¾Ã  ª ° à ª °Ã  «â€šÃ  ª ªÃ  ª ¿Ã  ª ¯Ã  ª ¾| Hindi| à ¤ Ã  ¤â€¢ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¤ ¾| à ¤ ¦Ã  ¥â€¹ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¥â€¡| à ¤ ªÃ  ¤ ¾Ã  ¤ Ã  ¤Å¡ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¥â€¡| à ¤ ¦Ã  ¤ ¸ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¥â€¡| à ¤ ¬Ã  ¥â‚¬Ã  ¤ ¸ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¥â€¡| à ¤ ªÃ  ¤Å¡ à ¤ ¾Ã  ¤ ¸ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¥â€¡| à ¤ Ã  ¤â€¢ à ¤ ¸Ã  ¥Å' à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¥â€¡| à ¤ ªÃ  ¤ ¾Ã  ¤â€šÃ  ¤Å¡ à ¤ ¸Ã  ¥Å' à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¥â€¡| à ¤ Ã  ¤â€¢ à ¤ ¹Ã  ¤Å"à ¤ ¼Ã  ¤ ¾Ã  ¤ ° à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¥â€¡| Nepali| à ¤ Ã  ¤â€¢ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¿Ã  ¤ ¯Ã  ¤ ¾Ã  ¤ | à ¤ ¦Ã  ¥ Ã  ¤Ë† à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¿Ã  ¤ ¯Ã  ¤ ¾Ã  ¤ | à ¤ ªÃ  ¤ ¾Ã  ¤ Ã  ¤Å¡ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¿Ã  ¤ ¯Ã  ¤ ¾Ã  ¤ | à ¤ ¦Ã  ¤ ¶ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¿Ã  ¤ ¯Ã  ¤ ¾Ã  ¤ | à ¤ ¬Ã  ¥â‚¬Ã  ¤ ¸ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¿Ã  ¤ ¯Ã  ¤ ¾Ã  ¤ | à ¤ ªÃ  ¤Å¡Ã  ¤ ¾Ã  ¤ ¸ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¿Ã  ¤ ¯Ã  ¤ ¾Ã  ¤ | à ¤ Ã  ¤â€¢ à ¤ ¸Ã  ¤ ¯ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¿Ã  ¤ ¯Ã  ¤ ¾Ã  ¤ | à ¤ ªÃ  ¤ ¾Ã  ¤ Ã  ¤Å¡ à ¤ ¸Ã  ¤ ¯ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¿Ã  ¤ ¯Ã  ¤ ¾Ã  ¤ | à ¤ Ã  ¤â€¢ à ¤ ¹Ã  ¤Å"à ¤ ¼Ã  ¤ ¾Ã  ¤ ° à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¿Ã  ¤ ¯Ã  ¤ ¾Ã  ¤ | Kannada| à ²â€™Ã  ²â€šÃ  ² ¦Ã  ³  à ² °Ã  ³ Ã  ² ªÃ  ² ¾Ã  ² ¯Ã  ² ¿| à ²Å½Ã  ² °Ã  ² ¡Ã  ³  à ² °Ã  ³â€ šÃ  ² ªÃ  ² ¾Ã  ² ¯Ã  ² ¿Ã  ²â€"à ² ³Ã  ³ | à ² Ã  ² ¦Ã  ³  à ² °Ã  ³â€šÃ  ² ªÃ  ² ¾Ã  ² ¯Ã  ² ¿Ã  ²â€"à ² ³Ã  ³ | à ² ¹Ã  ² ¤Ã  ³ Ã  ² ¤Ã  ³  à ² °Ã  ³â€šÃ  ² ªÃ  ² ¾Ã  ² ¯Ã  ² ¿Ã  ²â€"à ² ³Ã  ³ | à ²â€¡Ã  ² ªÃ  ³ Ã  ² ªÃ  ² ¤Ã  ³ Ã  ² ¤Ã  ³  à ² °Ã  ³â€šÃ  ² ªÃ  ² ¾Ã  ² ¯Ã  ² ¿Ã  ²â€"à ² ³Ã  ³ | à ² Ã  ² µÃ  ² ¤Ã  ³ Ã  ² ¤Ã  ³  à ² °Ã  ³â€šÃ  ² ªÃ  ² ¾Ã  ² ¯Ã  ² ¿Ã  ²â€"à ² ³Ã  ³ | à ² ¨Ã  ³â€šÃ  ² °Ã  ³  à ² °Ã  ³â€šÃ  ² ªÃ  ² ¾Ã  ² ¯Ã  ² ¿Ã  ²â€"à ² ³Ã  ³ | à ² Ã  ² ¨Ã  ³â€šÃ  ² °Ã  ³  à ² °Ã  ³â€šÃ  ² ªÃ  ² ¾Ã  ² ¯Ã  ² ¿Ã  ²â€"à ² ³Ã  ³ | à ²â€™Ã  ²â€šÃ  ² ¦Ã  ³  à ² ¸Ã  ² ¾Ã  ² µÃ  ² ¿Ã  ² ° à ² °Ã  ³â€šÃ  ² ªÃ  ² ¾Ã  ² ¯Ã  ² ¿Ã  ²â€"à ² ³Ã  ³ | Konkani| à ¤ Ã  ¤â€¢ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¤ ¾| à ¤ ¦Ã  ¥â€¹Ã  ¤ ¨ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¤ ¾| à ¤ ªÃ  ¤ ¾Ã  ¤â€šÃ  ¤Å¡ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¤ ¾| à ¤ §Ã  ¤ ¾ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¤ ¾| à ¤ µÃ  ¥â‚¬Ã  ¤ ¸ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¤ ¾| à ¤ ªÃ  ¤ ¨Ã  ¥ Ã  ¤ ¨Ã  ¤ ¾ à ¤ ¸ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¤ ¾| à ¤ ¶Ã  ¤â€šÃ  ¤ ­Ã  ¤ ° à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¤ ¾| à ¤ ªÃ  ¤ ¾Ã  ¤Å¡Ã  ¤ ¶Ã  ¥â€¡Ã  ¤â€š à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¤ ¾| à ¤ Ã  ¤â€¢ à ¤ ¹Ã  ¤Å"à ¤ ¼Ã  ¤ ¾Ã  ¤ ° à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¤ ¾| Malayalam| à ´â€™Ã  ´ °Ã  µ  à ´ °Ã  µâ€šÃ  ´ ª| à ´ °Ã  ´ £Ã  µ Ã  ´Å¸Ã  µ  à ´ °Ã  µâ€šÃ  ´ ª| à ´â€¦Ã  ´Å¾Ã  µ Ã  ´Å¡Ã  µ  à ´ °Ã  µâ€šÃ  ´ ª| à ´ ªÃ  ´ ¤Ã  µ Ã  ´ ¤Ã  µ  à ´ °Ã  µâ€šÃ  ´ ª| à ´â€¡Ã  ´ °Ã  µ Ã  ´ ªÃ  ´ ¤Ã  µ  à ´ °Ã  µâ€šÃ  ´ ª| à ´â€¦Ã  µ »Ã  ´ ªÃ  ´ ¤Ã  µ  à ´ °Ã  µâ€šÃ  ´ ª| à ´ ¨Ã  µâ€šÃ  ´ ±Ã  µ  à ´ °Ã  µâ€šÃ  ´ ª| à ´â€¦Ã  ´Å¾Ã  µ Ã  ´Å¾Ã  µâ€šÃ  ´ ±Ã  µ  à ´ °Ã  µâ€šÃ  ´ ª| à ´â€ Ã  ´ ¯Ã  ´ ¿Ã  ´ °Ã  ´â€š à ´ °Ã  µâ€šÃ  ´ ª| Marathi| à ¤ Ã  ¤â€¢ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¤ ¾| à ¤ ¦Ã  ¥â€¹Ã  ¤ ¨ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¥â€¡| à ¤ ªÃ  ¤ ¾Ã  ¤Å¡ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¥â€¡| à ¤ ¦Ã  ¤ ¹Ã  ¤ ¾ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¥â€¡| à ¤ µÃ  ¥â‚¬Ã  ¤ ¸ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¥â€¡| à ¤ ªÃ  ¤ ¨Ã  ¥ Ã  ¤ ¨Ã  ¤ ¾Ã  ¤ ¸ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¥â€¡| à ¤ ¶Ã  ¤â€šÃ  ¤ ­Ã  ¤ ° à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¥â€¡| à ¤ ªÃ  ¤ ¾Ã  ¤Å¡Ã  ¤ ¶Ã  ¥â€¡ à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¥â€¡| à ¤ Ã  ¤â€¢ à ¤ ¹Ã  ¤Å"à ¤ ¾Ã  ¤ ° à ¤ °Ã  ¥ Ã  ¤ ªÃ  ¤ ¯Ã  ¥â€¡| Sanskrit| à ¤ Ã  ¤â€¢Ã  ¤ °Ã  ¥â€šÃ  ¤ ªÃ  ¥ Ã  ¤ ¯Ã  ¤â€¢Ã  ¤ ®Ã  ¥ | à ¤ ¦Ã  ¥ Ã  ¤ µÃ  ¥â€¡ à ¤ °Ã  ¥â€šÃ  ¤ ªÃ  ¥ Ã  ¤ ¯Ã  ¤â€¢Ã  ¥â€¡| à ¤ ªÃ  ¤Å¾Ã  ¥ Ã  ¤Å¡Ã  ¤ °Ã  ¥â€šÃ  ¤ ªÃ  ¥ Ã  ¤ ¯Ã  ¤â€¢Ã  ¤ ¾Ã  ¤ £Ã  ¤ ¿| à ¤ ¦Ã  ¤ ¶Ã  ¤ °Ã  ¥â€šÃ  ¤ ªÃ  ¥ Ã  ¤ ¯Ã  ¤â€¢Ã  ¤ ¾Ã  ¤ £Ã  ¤ ¿| à ¤ µÃ  ¤ ¿Ã  ¤â€šÃ  ¤ ¶Ã  ¤ ¤Ã  ¥â‚¬ à ¤ °Ã  ¥â€šÃ  ¤ ªÃ  ¥ Ã  ¤ ¯Ã  ¤â€¢Ã  ¤ ¾Ã  ¤ £Ã  ¤ ¿| à ¤ ªÃ  ¤Å¾Ã  ¥ Ã  ¤Å¡Ã  ¤ ¾Ã  ¤ ¶Ã  ¤ ¤Ã  ¥  à ¤ °Ã  ¥â€šÃ  ¤ ªÃ  ¥ Ã  ¤ ¯Ã  ¤â€¢Ã  ¤ ¾Ã  ¤ £Ã  ¤ ¿| à ¤ ¶Ã  ¤ ¤Ã  ¤â€š à ¤ °Ã  ¥â€šÃ  ¤ ªÃ  ¥ Ã  ¤ ¯Ã  ¤â€¢Ã  ¤ ¾Ã  ¤ £Ã  ¤ ¿| à ¤ ªÃ  ¤Å¾Ã  ¥ Ã  ¤Å¡Ã  ¤ ¶Ã  ¤ ¤Ã  ¤â€š à ¤ °Ã  ¥â€šÃ  ¤ ªÃ  ¥ Ã  ¤ ¯Ã  ¤â€¢Ã  ¤ ¾Ã  ¤ £Ã  ¤ ¿| à ¤ ¸Ã  ¤ ¹Ã  ¤ ¸Ã  ¥ Ã  ¤ °Ã  ¤â€š à ¤ °Ã  ¥â€šÃ  ¤ ªÃ  ¥ Ã  ¤ ¯Ã  ¤â€¢Ã  ¤ ¾Ã  ¤ £Ã  ¤ ¿| Kashmiri| | | | | | | | | -| Tamil| à ®â€™Ã  ® °Ã  ¯  à ® °Ã  ¯â€šÃ  ® ªÃ  ® ¾Ã  ® ¯Ã  ¯ | à ®â€¡Ã  ® °Ã  ® £Ã  ¯ Ã  ®Å¸Ã  ¯  à ® °Ã  ¯â€šÃ  ® ªÃ  ® ¾Ã  ® ¯Ã  ¯ | à ® Ã  ® ¨Ã  ¯ Ã  ® ¤Ã  ¯  à ® °Ã  ¯â€šÃ  ® ªÃ  ® ¾Ã  ® ¯Ã  ¯ | à ® ªÃ  ® ¤Ã  ¯ Ã  ® ¤Ã  ¯  à ® °Ã  ¯â€šÃ  ® ªÃ  ® ¾Ã  ® ¯Ã  ¯ | à ®â€¡Ã  ® °Ã  ¯ Ã  ® ªÃ  ® ¤Ã  ¯  à ® °Ã  ¯â€šÃ  ® ªÃ  ® ¾Ã  ® ¯Ã  ¯ | à ® Ã  ® ®Ã  ¯ Ã  ® ªÃ  ® ¤Ã  ¯  à ® °Ã  ¯â€šÃ  ® ªÃ  ® ¾Ã  ® ¯Ã  ¯ | à ® ¨Ã  ¯â€šÃ  ® ±Ã  ¯  à ® °Ã  ¯â€šÃ  ® ªÃ  ® ¾Ã  ® ¯Ã  ¯ | à ® Ã  ® ¨Ã  ¯ Ã  ® ¨Ã  ¯â€šÃ  ® ±Ã  ¯  à ® °Ã  ¯â€šÃ  ® ªÃ  ® ¾Ã  ® ¯Ã  ¯ | à ®â€ Ã  ® ¯Ã  ® ¿Ã  ® °Ã  ® ®Ã  ¯  à ® °Ã  ¯â€šÃ  ® ªÃ  ® ¾Ã  ® ¯Ã  ¯ | Telugu| à °â€™Ã  °â€¢ à ° °Ã  ±â€šÃ  ° ªÃ  ° ¾Ã  ° ¯Ã  ° ¿| à ° °Ã  ±â€ Ã  °â€šÃ  ° ¡Ã  ±  à ° °Ã  ±â€šÃ  ° ªÃ  ° ¾Ã  ° ¯Ã  ° ²Ã  ± | à ° Ã  ° ¦Ã  ±  à ° °Ã  ±â€šÃ  ° ªÃ  ° ¾Ã  ° ¯Ã  ° ²Ã  ± | à ° ªÃ  ° ¦Ã  ° ¿ à ° °Ã  ±â€šÃ  ° ªÃ  ° ¾Ã  ° ¯Ã  ° ²Ã  ± | à °â€¡Ã  ° °Ã  ° µÃ  ±Ë† à ° °Ã  ±â€šÃ  ° ªÃ  ° ¾Ã  ° ¯Ã  ° ²Ã  ±  | à ° ¯Ã  ° ¾Ã  ° ­Ã  ±Ë† à ° °Ã  ±â€šÃ  ° ªÃ  ° ¾Ã  ° ¯Ã  ° ²Ã  ± | à ° ¨Ã  ±â€šÃ  ° °Ã  ±  à ° °Ã  ±â€šÃ  ° ªÃ  ° ¾Ã  ° ¯Ã  ° ²Ã  ± | à ° Ã  ° ¦Ã  ± Ã  ° µÃ  °â€šÃ  ° ¦Ã  ° ² à ° °Ã  ±â€šÃ  ° ªÃ  ° ¾Ã  ° ¯Ã  ° ²Ã  ± | à ° µÃ  ±â€ Ã  ° ¯Ã  ± Ã  ° ¯Ã  ° ¿ à ° °Ã  ±â€šÃ  ° ªÃ  ° ¾Ã  ° ¯Ã  ° ²Ã  ± | Punjabi| à ¨â€¡Ã  ¨â€¢ à ¨ °Ã  © Ã  ¨ ªÃ  ¨ | à ¨ ¦Ã  ©â€¹ à ¨ °Ã  © Ã  ¨ ªÃ  ¨ | à ¨ ªÃ  © °Ã  ¨Å" à ¨ °Ã  © Ã  ¨ ªÃ  ¨ | à ¨ ¦Ã  ¨ ¸ à ¨ °Ã  © Ã  ¨ ªÃ  ¨ | à ¨ µÃ  ©â‚¬Ã  ¨ ¹ à ¨ °Ã  © Ã  ¨ ªÃ  ¨ | à ¨ ªÃ  © °Ã  ¨Å"à ¨ ¾Ã  ¨ ¹ à ¨ °Ã  © Ã  ¨ ªÃ  ¨ | à ¨â€¡Ã  ¨â€¢ à ¨ ¸Ã  ©â€¹ à ¨ °Ã  © Ã  ¨ ªÃ  ¨ | à ¨ ªÃ  © °Ã  ¨Å" à ¨ ¸Ã  ©â€¹ à ¨ °Ã  © Ã  ¨ ªÃ  ¨ | à ¨â€¡Ã  ¨â€¢ à ¨ ¹Ã  ¨Å"à ¨ ¾Ã  ¨ ° à ¨ °Ã  © Ã  ¨ ªÃ  ¨ | Urdu| Ø §Ã›Å'Ú © Ø ±Ã™Ë†Ã™ ¾Ã›Å'Û | Ø ¯Ã™Ë† Ø ±Ã™Ë†Ã™ ¾Ã›â€™| Ù ¾Ã˜ §Ã™â€ Ãšâ€  Ø ±Ã™Ë†Ã™ ¾Ã›â€™| Ø ¯Ã˜ ³ Ø ±Ã™Ë†Ã™ ¾Ã›â€™| Ø ¨Ã›Å'Ø ³ Ø ±Ã™Ë†Ã™ ¾Ã›â€™| Ù ¾Ãšâ€ Ã˜ §Ã˜ ³ Ø ±Ã™Ë†Ã™ ¾Ã›â€™| Ø §Ã›Å'Ú © Ø ³Ã™Ë† Ø ±Ã™Ë†Ã™ ¾Ã›â€™| Ù ¾Ã˜ §Ã™â€ Ãšâ€  Ø ³Ã™Ë† Ø ±Ã™Ë†Ã™ ¾Ã›â€™| Ø §Ã›Å'Ú © Û Ã˜ ²Ã˜ §Ã˜ ± Ø ±Ã™Ë†Ã™ ¾Ã›â€™| Oriya| à ­ § à ¬Å¸Ã  ¬â„¢Ã  ­ Ã  ¬â€¢Ã  ¬ ¾| à ­ ¨ à ¬Å¸Ã  ¬â„¢Ã  ­ Ã  ¬â€¢Ã  ¬ ¾| à ­ « à ¬Å¸Ã  ¬â„¢Ã  ­ Ã  ¬â€¢Ã  ¬ ¾| à ­ §0 à ¬Å¸Ã  ¬â„¢Ã  ­ Ã  ¬â€¢Ã  ¬ ¾| à ­ ¨Ã  ­ ¦ à ¬Å¸Ã  ¬â„¢Ã  ­ Ã  ¬â€¢Ã  ¬ ¾| à ­ «Ã  ­ ¦ à ¬Å¸Ã  ¬â„¢Ã  ­ Ã  ¬â€¢Ã  ¬ ¾| à ­ §Ã  ­ ¦Ã  ­ ¦ à ¬Å¸Ã  ¬â„¢Ã  ­ Ã  ¬â€¢Ã  ¬ ¾| à ­ «Ã  ­ ¦Ã  ­ ¦ à ¬Å¸Ã  ¬â„¢Ã  ­ Ã  ¬â€¢Ã  ¬ ¾| à ­ §Ã  ­ ¦Ã  ­ ¦Ã  ­ ¦ à ¬Å¸Ã  ¬â„¢Ã  ­ Ã  ¬â€¢Ã  ¬ ¾| ————————————————- Minting[edit source | editbeta] A postcard depicting the Mint. The Government of India has the only right to mint the coins. The responsibility for coinage comes under the Coinage Act, 1906 which is amended from time to time. The designing and minting of coins in various denominations is also the responsibility of the Government of India. Coins are minted at the five India Government Mints at Mumbai, Alipore(Kolkata), Saifabad(Hyderabad), Cherlapally (Hyderabad) and NOIDA (UP).[24] The coins are issued for circulation only through the Reserve Bank in terms of the RBI Act. ————————————————- Security features[edit source | editbeta] The main security features of current banknotes are: * Watermark – White side panel of notes has Mahatma Gandhi watermark. * Security thread – All notes have a silver or green security band with inscriptions (visible when held against light) of Bharat in Hindi and â€Å"RBI† in English. * Latent image – On notes of denominations of â‚ ¹20 and upwards, a vertical band on the right side of the Mahatma Gandhi’s portrait contains a latent image showing the respective denominational value numerally (visible only when the note is held horizontally at eye level). * Microlettering – Numeral denominational value is visible under magnifying glass between security thread and latent image. * Intaglio – On notes with denominations of â‚ ¹5 and upwards the portrait of Mahatma Gandhi, the Reserve Bank seal, guarantee and promise clause, Ashoka Pillar Emblem on the left and the RBI Governor’s signature are printed in intaglio (raised print). * Identification mark – On the left of the watermark window,  different shapes are printed for various denominations â‚ ¹20: vertical rectangle, â‚ ¹50: square, â‚ ¹100: triangle, â‚ ¹500: circle, â‚ ¹1,000: diamond). This also helps the visually impaired to identify the denomination. * Fluorescence – Number panels glow under ultraviolet light. * Optically variable ink – Notes of â‚ ¹500 and â‚ ¹1,000 denominations have their numerals printed in optically variable ink. The number appears green when the note is held flat, but changes to blue when viewed at an angle. * See-through register – Floral designs printed on the front and the back of the note coincide and perfectly overlap each other when viewed against light. * EURion constellation – A pattern of symbols found on the banknote helps software detect the presence of a banknote in a digital image, preventing its reproduction with devices such as colour photocopiers. ——————â€⠀Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- Convertibility[edit source | editbeta] Most traded currencies by value Currency distribution of global foreign exchange market turnover[25][26]| Rank| Currency| ISO 4217 code (Symbol)| % daily share (April 2010)| 1|  United States dollar| USD ($)| 84.9%| 2|  Euro| EUR (â‚ ¬)| 39.1%| 3|  Japanese yen| JPY ( ¥)| 19.0%| 4|  Pound sterling| GBP ( £)| 12.9%| 5|  Australian dollar| AUD ($)| 7.6%| 6|  Swiss franc| CHF (Fr)| 6.4%| 7|  Canadian dollar| CAD ($)| 5.3%| 8|  Hong Kong dollar| HKD ($)| 2.4%| 9|  Swedish krona| SEK (kr)| 2.2%| 10|  New Zealand dollar| NZD ($)| 1.6%| 11|  Singapore dollar| SGD ($)| 1.5%| 12|  South Korean won| KRW (â‚ ©)| 1.5%| 13|  Norwegian krone| NOK (kr)| 1.3%| 14|  Mexican peso| MXN ($)| 1.3%| 15|  Indian rupee| INR ()| 0.9%| Other| 12.2%| Total[27]| 200%| Officially, the Indian rupee has a market-determined exchange rate. However, the RBI trades actively in the USD/INR currency market to impact effective exchange rates. Thus, the currency regime in place for the Indian rupee with respect to the US dollaris a de facto controlled exchange rate. This is sometimes called a â€Å"managed float†. Other rates (such as the EUR/INR and INR/JPY) have the volatility typical of floating exchange rates, and often create persistant arbitrage opportunities against the RBI.[28] Unlike China, successive administrations (through RBI, the central bank) have not followed a policy of pegging the INR to a specific foreign currency at a particular exchange rate. RBI intervention in currency markets is solely to ensure low volatility in exchange rates, and not to influence the rate (or direction) of the Indian rupee in relation to other currencies.[29] Also affecting convertibility is a series of customs regulations restricting the import and export of rupees. Legally, foreign nationals are forbidden from importing or exporting rupees; Indian nationals can import and export only up to â‚ ¹7,500 at a time, and the possession of â‚ ¹500 and â‚ ¹1,000 rupee notes in Nepal is prohibited [30][31] RBI also exercises a system of capital controls in addition to intervention (through active trading) in currency markets. On the current account, there are no currency-conversion restrictions hindering buying or selling foreign exchange (although trade barriers exist). On the capital account, foreign institutional investors have convertibility to bring money into and out of the country and buy securities (subject to quantitative restrictions). Lo cal firms are able to take capital out of the country in order to expand globally. However, local households are restricted in their ability to diversify globally. Because of the expansion of the current and capital accounts, India is increasingly moving towards full de facto convertibility. There is some confusion regarding the interchange of the currency with gold, but the system that India follows is that money cannot be exchanged for gold under any circumstances due to gold’s lack of liquidity;[citation needed] therefore, money cannot be changed into gold by the RBI. India follows the same principle as Great Britain and the U.S. Reserve Bank of India clarifies its position regarding the promissory clause printed on each banknote: â€Å"As per Section 26 of  Reserve Bank of India Act, 1934, the Bank is liable to pay the value of banknote. This is payable on demand by RBI, being the issuer. The Bank’s obligation to pay the value of banknote does not arise out of a contract but out of statutory provisions.The promissory clause printed on the banknotes i.e., â€Å"I promise to pay the bearer an amount of X† is a statement which means that the banknote is a legal tender for X amount. The obligation on the part of the Bank is to exchange a banknote for coins of an equivalent amount.† [32] Chronology[edit source | editbeta] * 1991 – India began to lift restrictions on its currency. A number of reforms remove restrictions on current account transactions (including trade, interest payments and remittances and some capital asset-based transactions). Liberalised Exchange Rate Management System (LERMS) (a dual-exchange-rate system) introduced partial convertibility of the rupee in March 1992.[33] * 1997 – A panel (set up to explore capital account convertibility) recommended that India move towards full convertibility by 2000, but the timetable was abandoned in the wake of the 1997–1998East Asian financial crisis. * 2006 – Prime Minister Manmohan Singh asked the Finance Minister and the Reserve Bank of India to prepare a road map for moving towards capital account convertibility.[34] ————————————————- Exchange rates[edit source | editbeta] Historic exchange rates[edit source | editbeta] Graph of exchange rates of Indian rupee (INR) per 1 USD, 1 GBP, 1 EUR, 100 JPY averaged over the month, from September 1998 to May 2013. Data source: Reserve Bank of India reference rate For almost a century since the Great Recoinage of 1816 until the outbreak of World War I, the Indian Rupee sustained parity with the US Dollar while pegged to the Pound Sterling that was exchanged at 4.80 (or 50 old pence per Rupee). Thereafter, both the Rupee and the Sterling gradually declined in worth against the US Dollar due to deficits in trade, capital and budget. In 1966, the Rupee was devalued and pegged to the US Dollar. The peg to the pound was at INR 13.33 to a Pound which itself was pegged to USD 4.03. That means officially speaking  the USD to INR rate would be closer to Rs 4. In 1966, India changed the peg to dollar at INR 7.50.[35] Indian rupees per currency unit averaged over the year[36]| Currency| code| 1996| 2000| 2004| 2006| 2007| 2008| 2009| 2010| 2013| U.S. dollar| USD| 35.44 4| 44.2| 45.340| 43.954| 39.5| 48.76112| 45.3354| 58| 68.80| Canadian dollar| CAD| 26.002| 30.283| 34.914| 41.098| 42.92026| 44.5915| 52.1706| | | Euro*| EUR| 44.401| 41.525| 56.385| 64.127| 68.03312| 60.5973| 65.6987| | | Pound sterling| GBP| 55.389| 68.119| 83.064| 80.633| 76.38023| 71.3313| 83.6329| | | Swiss franc| CHF| 28| | | | | | | | 50| Singapore dollar| SGD| 25.160| 26.07| 26.830| 30.932| 33.60388| 34.5127| 41.2737| | | *before 1 Jan 1999, European Currency Unit,| Banknotes and coins in circulation[edit source | editbeta] As of 2012 banknotes of the denominations of â‚ ¹5, â‚ ¹10, â‚ ¹20, â‚ ¹50, â‚ ¹100, â‚ ¹500 and â‚ ¹1000 are in circulation; coins with face-value of 50 paisa, â‚ ¹1, â‚ ¹2, â‚ ¹5 and â‚ ¹10 rupees. This is excluding the commemorative coins minted for special occasions.

Economics _ Whither the Dollar Essay Example | Topics and Well Written Essays - 1250 words

Economics _ Whither the Dollar - Essay Example Both see the necessity for international cooperation in determining currency exchange rates under appropriate circumstances and both provide the ability to alter exchange rates under certain circumstances. However, they also recognize the destructive aftermath of freely flexible exchanges on international trade and economic relations generally, and their chief purpose is to create and maintain a system of stable exchange rates. And yet, the Keynes’ system had some radical ideas that went completely contrary to White's conservative plan. Unlike White's theory, where member-countries would deposit their currencies, and together with the government fund then provide the currencies needed by each country for settling its international account, the Keynes’ plan provides an international clearing, where no funds are deposited. Instead, international payment would be effected by debiting the paying country and crediting the receiving country on the books of the union. (The Key nes’ and White Plans) Keynes proposed the establishment of: an International Clearing Union, based on international bank money, called (let us say) bancor , ?xed (but not unalterably) in terms of gold and accepted as the equivalent of gold by the British Commonwealth and the United States and all members of the Union for the purpose of settling international balances. (Keynes, 1980, p.121) The basic idea is simple. Countries would have accounts that would play the same role as reserves, (mainly gold in the early 20th century) and dollars or other foreign exchange currencies. With the account at the International Clearing Union countries do not have to shore up these reserves. They are free to take a loan from the International Clearing Union in times of need and lend if they export more than they import. The de?ation bias caused by trapped reserves, which cannot turn into meaningful demand, would disappear. To prevent accumulation credits or debits Keynes also suggested some measures so in the long run the system self-balance itself. The outcome of the negotiations was the new Bratton Woods system. This system incorporated points, where both plans agreed. Yet, because of the USA's greater negotiating strength, the final decisions of the new system were closer to the conservative plans of Harry Dexter White. According to US economist Brad DeLong, on almost every point where Keynes’ ideas were canceled by the Americans, he was later proved correct by events of history. The Primary Real Causes of the Financial Crisis of 2008 According to the article â€Å"Whither the Dollar† by Katherine Sciacchitano, there are a few reasons and events, which triggered the beginning stages of the financial crisis of 2008. The first is the elimination of capital control. This deepened economic stability in many ways: - It made it easier for capital to search for the lowest possible wages; - It increased the political power of capital by enabling it to â€Å"v ote with its feet† - It fed asset bubbles, increased financial speculation and exchange rate bounce. This increased unregulated capital mobility and speculation weakened the real economy, further exhausted global demand and increased economic instability. As we can see from history, from the eighties on up in countries all around the world an economic crises have occurred about every five years. Another reason of the 2008

How to Write a Classic Essay Example | Topics and Well Written Essays - 500 words

How to Write a Classic - Essay Example However, later on, this classical form of essay evolved into the modern five-paragraph essay. In the classic essay format of the present day, there are five paragraphs. The first paragraph is meant to introduce the topic and to declare one's stance on the subject that is to be proved in the body paragraphs. The body paragraphs will contain narration, affirmation and, sometimes, negation, thus trying to prove the thesis. The last paragraph is a conclusion that mainly contains the summary of the main arguments presented in the body paragraphs followed by the restatement of the thesis in the introductory paragraph in a different way and the declaration of the true essence of the essay. It is also possible to construct a five-paragraph essay with just three arguments supporting the thesis. In this case, the ‘supporting points will be provided in the descending order of importance’ in the body paragraphs (Nunnally, 67-71). To begin with, the first paragraph of the essay will contain the strongest argument that the writer wants to put forward in support of his argument. Most probably, the first sentence of the paragraph will be the topic sentence that will be elaborated in the paragraph.

Self reflection 03094 Essay Example | Topics and Well Written Essays - 2500 words

Self reflection 03094 - Essay Example and models and developed my understanding on how organization can cope up with the problems related to organizational culture and consequently establish harmony in the organizational context efficiently (Cameron and Quinn, 2011). In this reflective essay, I will discuss the critical opinion of researchers regarding organizational culture and its different perspective such as organizational changes, organizational learning and merger- acquisition. Organizational change is the process through which an organization introduces structural changes i.e. changes in its business strategies, technological involvement, operational methods and other attributes of organizational culture. My research has also shown that any organization, operating in the global multinational circumference, organizational change is inevitable for confirming its existence in the ever- changing business world and ensuring smooth running of its operations (Markovic, 2012). I have studied organizational change in the research of Battilana and Casciaro (2012) as a continuous process which is important for any organization to review the internal and external business environment over a distinct period of time and understand whether any changes are required to bring in the organization. My research on the theories introduced by Cameron and Green (2012) has revealed that various internal and external factors existing in the environment in which the business entity is operating, forces its management to bring changes in the organizational process. If I consider the external variables, changes in economic and political regulations such as increase in exchange rate or changes in trade regulations over time highly influences the business to change its short and long term decisions in order to safeguard the organization from realizing huge loss. Technological advancement also influences an organization to bring in changes so that the method of production becomes swifter and economic. In some cases, I

Managing Change Research Paper Example | Topics and Well Written Essays - 1000 words

Managing Change - Research Paper Example Of the factors marked with an * rank them and identify which represent a threat and which an opportunity. 3) Page 6.1 p99 of text (Think of an occasion in the past three years when the organ. recognised the need for change in good time, and think of another time when it failed to do so. List the factors which may have contributed to these different outcomes. (Factors that contributed to the recognition for the need for change and factors that contributed to the failure to recognise the need for change (Table) Reflect on your unit's past record for recognising the need for change. Note anything that you or others could do to help ensure that in the future your unit or organisation will be more alert to the need for change. (Notes) The company chosen for analysis is VTech. It is, to use their own words, "one of the world's largest suppliers of corded and cordless telephones" (TEL) "and a leading supplier of electronic learning products" (ELP's). "It also provides highly sought-after contract manufacturing services" (CMS). "Founded in 1976, the Group's mission is to be the most cost-effective designer and manufacturer of innovative high quality consumer electronics products and to distribute them to markets worldwide in the most efficient manner." (Results FY 2007) It may be noted that VTech has made several changes in the past five years (2001-02 to 2006-07), some on its own, and some in response to environmental stimuli. It must however be noted that none of these changes are transformational in nature. This is not to deny the major changes that have occurred. But even the major changes may be classified as 'incremental' because there has been no change in the basic structure of the Company. (Hayes, ch1, pp15-17) Q2 Current Nature of the External Environment faced by VTech Political 1) Hong Kong (HK) where VTech is located was a British Colony, which has reverted to China in 1997. 2) HK has a unique history of being politically close to both China and the West.* Economic 3) HK can retain its economic independence from China for 50 years after 1997*. 4) VTech has access to cheaper labour in China, where it has located some of its production facilities.* 5) HK, like China and Japan, has a unique set up of manufacturing of an imitative nature, where it competitively produces the same products made by the West. Some of VTech's products also fall into this category. Technological 6) Technological changes in the telecom sector have been rather fast* Socio-Cultural 7) The age at which people start using hand phones is getting lower. Even children use these phones* Linkages PI, P2, E3 and E4 are linked directly or positively.E5 and T6 are indirectly or negatively linked. Quick technological changes make it difficult to come out with good imitations. Besides, tightening of patent laws to include products and not only processes, make it more difficult to 'imitate'. T6 and S7 are also positively linked. A decrease in the age of users could speed up technological changes to meet the demands of the new clientele. Classification of Factors Vital for VTech's Survival into Threats and Opportunities. Threats

An Analysis of George Stiger Criticism of Adam Smith Essay

An Analysis of George Stiger Criticism of Adam Smith - Essay Example Smith refrains from making reference to self interest in the analysis of the popular passage motives but rather resort to the phrase ‘self love’. From these two phrases ‘self interest’ and ‘self love’ a misconception can arise that the two are synonyms. Criticisms of Adam Smith The most indebted intellect by Adam’s work is Hirschman. In his work on interests and passions, there has been evidence of relationships between moral philosophical development and modern model on self interest and rationale for state theory. Adam’s article contributes much support to Hirschman’s work and emphasizes it more. There are certain instances when Smith contradicts himself. This should not be considered as failure as far as his works is concerned. Similar to his classical ideologies, Smith fronts an argument that, in order for one to get the truth, an issue being debated should be viewed from all perspectives (Miller, 1993). Clarity on this has been made on moral sentiments theory, where Adam adopts debates on commerce corruption influence, and consequently denies them to be splenetic philosophy. From Smith’s perspective, the nations’ wealth was a significant reconciliation of human’s political and social idea on fruits of commerce. From Hirschman’s idea, an argument arises that the reason to economic adventure as an independent science is because of Smith’s republican leanings. ... From the article, the dominating characters did not place themselves in a focal point with consideration on their contemporaries and predecessors. Focusing on ways authors perform their own systems of construction, they always reject the fundamentals of other authors in order to build theirs. Traditionally, economists persist that the behavior of having self interest hold particularly for activities in economics. Attempts have been made to take self interest in a broader perspective as the initial principal in analyzing the behavior of individuals. There are claims that a comprehensive approach to economics is that which can be applied to all individuals, regardless of the price behaviors or imputed prices, infrequent or recurring decisions, minor or large solutions, mechanical or emotional ends, poor or rich people, children or adults, women or men, stupid or bright, doctors or patient, students or teachers. Adam smith refrained from the fact that as much as an individual’s e conomic behavioral pattern is always predictable there always few instances when the pattern changes (Smith, 1776). Another intellect asserted that in case the universe in physical form was a subject to motional law, then the universe in moral form will be a subject to interest. In General, self interest stands out as the only motivation for human action. George Stigler conveys a message that is used by many economists as he reiterates that the quote on baker, brewer and butcher contributes to the primary principle and to the modern economics. As much the interpretation of self interest is easily floated in mind, it is a testimony of interest paradigm. Initially, the idea to pursue self interest by agents of independence would lead to

Shakespeare's tragic vision Essay Example | Topics and Well Written Essays - 1500 words

Shakespeare's tragic vision - Essay Example Ben Jon son, a contemporary Play Wright said about Shakespeare that, "He was not of an age but for all times" who with his dramatic genius has established and underlying reputation for himself which he lived. Shakespeare's age was a period of ignorance and superstition. Despite the advancement of science and learning, the majority of the people still believed in witchcraft and charms omens of all sorts' .The frequent appearance of the supernatural can be seen like ghost in Julius Caesar and Hamlet, witches in Macbeth. Medical science was still rudimentary, and all sorts of fantastic lures were prescribed. Hamlet is considered as a tragedy has all the typical features of a Shakespearean tragedy. A Shakespearean tragedy is essentially the tale of one man- the hero .Hamlet is the prince of Denmark, frank, noble hearted man. That is why he is popular with the people, and Ophelia and Fortinbras praise him so highly. The suffering of the tragic hero is also exceptional; he suffers so terribly the hearts of the readers filled with pity and sympathy. Hamlet has all the chief Characteristics of a typical Elizabethans Revenge ply. The Revenge motif is strong in it. Hamlet's father is murdered in a most foul manner. It is an unnatural crime, for the criminal is the real brother of the murdered King. His queen has been unfaithful to her husband during his life time and soon after his death she marries the murderer. Thus there is murder, adultery, and incestuous marriage. In the manner of revenge play, it is the ghost of Hamlet's father who reveals to the young prince the horrible truth about his father's death, and lays upon him the duty of revenge. The supernatural motif has been fully exploited, eg. The ghost speaks only to the prince. In Hamlet there is much of fighting, bloodshed and violence. First Hamlet kills Polonius hidden behind the curtain. Not only had that he dug his body down exclaiming: This man will set me packing; I will lug the guts into the neighboring room . The revenge motif has been fully exploited, and thrills and sensations, for which the "grounding" longed, have been provided in ample measure. It is not merely an object of horror, but also the representation of the hidden, mysterious forces that lurk around us. It is an instrument of justice to punish the evil doer. Hamlet is one of the greatest tragedies of the world. As Goggling is points out, Hamlet, "is not to be regarded as a tragedy of revenge, but as a universal figure; he is every man. In his suffering, melancholy, hesitations in his inaction at a crucial moment in his life he typifies some one or the other phase of human nature". Hamlet is a tortured soul and it is through his soliloquies that the dreamiest has laid bare his soul before us. Without the soliloquies the drama would be more husks without a Kernel. One can say that Hamlet is Soul's tragedy and raise above a crude Melodrama or Revenge play. According to Samuel Johnson on Hamlet, "The play of Hamlet is opened, without impropriety, by two sentinels; Iago bellows at Brabantio's window, without injury to the scheme of the play, though in terms which a modern audience would not easily endure; the character of Polonius is seasonable and useful; and the grave-diggers themselves may be

Business Analysis of the Film and Its Production Movie Review

Business Analysis of the Film and Its Production - Movie Review Example The film was in production for nine months, from November of 2009 until August 2010. It entered postproduction status at the beginning of September 2010, where it remained until a month prior to its release, which was on December 24, 2010 in America and January 7, 2011 in the United Kingdom. The budget of The King’s Speech was $14,401,000 (ten million in European Euros), which is considered to be a low budget film. The film finished precisely on this budget. As a historical drama, the majority of the budget went to the location and the set design, since the film takes place in 1925, depression-era London. The next greatest portion of the budget went to the salaries of the leading actors, followed by the purchase of a Arricam studio camera with a 14 mm T1.3 Zeiss Master Prime lens, which is a special, albeit expensive, camera that would allow the director to experiment with new shots that would play up on the emotions of the characters. There was only a month or two delay from the time the film was finished until it was released in theaters in the United States. The reason for this delay, as is the case with all films, is to ensure that if extra shots needed to be filmed, they could be done so without risking going over the deadline of the film. It is uncommon that the delay period is as short as just a couple of months, but since the film was a historical piece and required very little of extra actors, the production company of The King’s Speech was able to pull it off with no problems. Distribution The companies that were in charge for distributing The King’s Speech were Australia’s branch of Paramount Pictures, The Weinstein Company of the United States, and Momentum Pictures in the United Kingdom. During its first week of release, The King’s Speech brought in $355,450 in the four theaters that released it in the United States; after this, the film was released to seven hundred more theaters throughout the States, though by the beginning of the New Year, it had been to released to a total of 1,543 screens. In the United Kingdom and Ireland, The King’s Speech earned $5,081,824 from 395 theaters in its first weekend. In Australia, the film made approximately $6,614,615 during its first two weeks. Globally, from the time the film was released until the present, The King’s Speech has earned $374,943,967 in gross revenue. Since The King’s Speech was filmed in Britain, and intended to solely be a British film, only four theaters in the United States saw its release. However, the results of these previews prompted distributors to release in an additional 696 theaters. By January 2011, roughly around the time when the film was released in the United Kingdom, the demand was high for the United States, and so the film was further released into an additional 843 screens. The release was gradual, adding more theaters as the demand for the film grew, which is a common occurrence among independe nt films. The King’s Speech’s distribution overseas was just as successful as the domestic distribution. As the film was based and shot in London, the United Kingdom was always intended to be a part of the release. Furthermore, since one of the lead actors and a producer (Geoffrey Rush) is originally from Australia, the country also played a vital role in the overseas distribution. In revenue, The King’s Speech has received $130,000,000 overseas, a little less than half of what it has made in all. The King’

Hartleys novel Essay Example for Free

Hartleys novel Essay Although appearing to have a cynical view of love in the poem Larkin does in fact not doubt love, but the expectations that we have of it. In the words of Andrew Swarbrick, Larkin expresses not feelings of bitterness or pessimism but of pathos, of a tender sympathy for the widow who recalls dreams knowing they are best forgotten. Though sometimes pleasurable reminiscing can reveal hopes that were unfulfilled, dreams never lived out, good times we can never experience again. Therefore what we perceive to be pessimism in Larkin is, in this instance, simply realism, an understanding of the illusions contained in the world, making him less deceived as a result. He once remarked, Poetry is an affair of sanity, of seeing things as they really are it was for him a way of being honest, not overestimating the value of things. Nonetheless, in the final poem of The Whitsun Weddings, An Arundel Tomb, Larkin hints at his belief in love. Despite not having a successful love life himself he still implies that he has faith in its existence, the ultimate word of the anthology being the abstract noun, love. This line is a testament to its endurance and strength, What will survive of us is love. John Saunders likens these lines containing the prove/love rhyme to Shakespeares attempt to define true love in Sonnet 73, Larkins concluding line echoing the rhyming couplet, If this be error, and upon me proved I never wrote, nor no man ever loved. An Arundel Tomb concentrates on the historical aspect of the past. The persona in the poem, which is in fact Larkin, examines the concept of artifacts, how something set in stone can withstand the test of time regardless of whether it actually existed in the first place. Visiting a Sussex churchyard Larkin sees an example of love that both moves and intrigues him, had it not been for the incongruity of two linked hands displayed on the tomb he would have walked by. It is a gesture small yet touching but the cynic in Larkin questions its validity presuming it to be a case of a sculptors sweet commissioned grace rather than a symbol of a long and devoted marriage. Together in death the couples faces blurred but the husband is still holding her hand. Over time their features have been weathered but their effigy remains as a reminder of their lives, a monument to their love. Archaic language is used to complement the subject matter of the poem, capturing a bygone time so unlike todays unarmorial age. Further manipulation of syntax is evident with the effective juxtaposition of the adjectives sharp and tender, conveying simply but perfectly Larkins confused and mixed reaction to the union of the stone hands. There is debate over Larkins true feelings towards the real meaning of the faithfulness in effigy. Whether or not he again intended the pun with the use of the verb lie just as lovers were lying together in bed is unclear. As Brother Anthony (An Sonjae) points out in his paper Without Metaphysics there is a huge diversity in the interpretations of Larkins intended meaning in his work, it is up to the reader to determine their own response which is good for the reader, but a challenge too. Does the poet believe that love survives not only in stone? Or as Andrew Swarbrick quite rightly points out does he almost believe it as the penultimate line suggests? Our almost-instinct almost true therefore cancels out the optimism of the following statement. Here we witness Larkin lowering his defenses, allowing himself to hope for the best, to want love to be that much mentioned brilliance but he cannot do so completely for fear of it being an illusion. Although hinting at what he truly believes it is as though he will not allow himself to trust it in case he is mistaken. Yet whether love survives or not it lives on in Arundel where only an attitude remains. This is also true of Larkins poetry, and in fact to the whole genre. Whereas fictional characters and places from novels are lost, forgotten, poetry allows thoughts to survive as art long after the death of the artist. Larkin wrote of this inspiring philosophy in 1955, contained in a statement to D. J. Enright he explained, I write poems to preserve things I have seen/thought/felt I think the impulse to preserve lies at the bottom of all art. Yet as mentioned previously the meaning of Larkins literature is not always clear, just like he could only assume the significance of the joined hands we can only guess at the thoughts of Philip Larkin which are contained and live on in his verse. The poem Dockery and Son relates the events and emotions that occur when Philip Larkin revisits his old college, steps back into the past only to be disappointed with what he finds there. An outsider there, he no longer belongs and finds himself a stranger in his own past, as well as physically being unable to enter his past residence the door of where (he) used to live is also locked metaphorically. However, the most disturbing thing for Larkin is the news that one of his peers now has at son at Oxford: Dockery unlike Larkin with no son, no wife, no house or land is a success story. The door to fatherhood is therefore also locked for Larkin. By starting with dialogue the poem is made more authentic as it adds an injection of reality to the verse. It also alerts Larkin to the fact that he is no longer part of that world, of public school boys and ranks, he, unlike Dockery, has no reason to revisit that part of his life. He feels ignored. As in The Whitsun Weddings Larkin philosophizes whilst on a train which is not only a vehicle in the normal sense of the noun but a vehicle for his thoughts and also a metaphor for direction, moving forward in life. The simplistic repetition in the third stanza How much How little conveys Larkins disappointment in himself as he contemplates his own achievements in comparison with those of Dockery. Whereas Leo Colston benefited from his nostalgic visit to the past it has been a negative experience for Larkin who should never have returned. Both Larkin and Hartley present philosophies on the past in two contrasting but equally effective genres, which themselves give insight into the pasts of the authors. The past is, as both pieces of literature show, inevitably significant to us all. How we are affected by it however, either negatively or positively, is to some extent in our own hands. Even a god cannot change the past (Agathon 445 BC) yet we can move on, learn from our experiences and in the future be less deceived. L. P. Hartleys novel is a message to us all that we should not dwell on what has come before, but concentrate on living the present, Leo recognized that he should not be sitting alone before it was too late. In reality the past does not fully exist; in the words of Larkin it is a love song that can never sound the same, a locked door which we can never be reopened, only an attitude that lives on in our minds. We may try to capture moments and emotions in stone, or in verse yet the only place where they truly exist is in our memory. We have the ability to dictate the significance the past holds for us. And so whilst we cannot change our pasts, we have the ability to change our future; Shakespeare declared that Whats past is prologue yet we can determine what is contained in the epilogue.

Human Resource Management in Health

Human Resource Management in Health Human Resource Management in Health Assessment 1 Managing Bullying and Harassment Background Bullying and harassment is not only unacceptable, it is unlawful under both the Commonwealth of Australia and the state legislations. There are many acts which prohibit bullying and harassment and discrimination like the Affirmative Action (Equal Opportunity for Women) Act 1986, Disability Discrimination Act 1992, Equal Employment Opportunity (Commonwealth Authorities) Act 1987, Human Rights and Equal Opportunity Commission Act 1996, Human Rights (Sexual Conduct) Act 1994, Privacy Act 1988, Racial Discrimination Act 1975, Racial Hatred Act 1995 and Sex Discrimination Act 1984 at the federal level (Comcare, 2010) and the Anti-Discrimination Act 1977, Disability Services Act 2006 and Privacy and Personal Information Protection Act 1998 at the state (NSW) level. Harassment and bullying is not just unlawful during working hours or in the workplace itself. It is also unlawful in any work-related context, including conferences, business or field trips, work functions and work end of year p arties. Harassing and/or bullying behaviour may be by a supervisor or manager, a co-worker, a contractor, an advisor or others associated with the organisation. Anti-bullying or anti-harassment policies at workplace should provide safe and productive environment where the dignity of every individual should be equally respected. The workplace should ensure to provide fair and equitable treatment to all the employees regardless of their protected characteristics such as sex, age, race, disability, sexual orientation, physical characteristics marital status, religious or political belief, parental or carer status, pregnancy, gender identity, family responsibilities or any other personal attribute under law. Harassment at workplace can include unwanted physical contact, verbal abuse and threat, offensive gestures, unwelcome and offensive remarks, jokes or innuendos, unwanted sexual propositions or demands, practical jokes that cause awkwardness, embarrassment or distress, unwelcome personal contact outside the workplace, unwelcome invitations or requests, intimidation, suggestive behaviour, the display of offensive notices or posters, mocking co mments about a persons appearance or manner of speech etc. Workplace bullying can involve humiliation, domination, intimidation, victimisation and all forms of harassment including that based on sex, race, disability, homosexuality or transgender. Bullying of any form or for any reason can have long-term effects on those involved including bystanders. Bullying behaviour can be verbal (e.g. name calling, teasing, abuse, putdowns, sarcasm, insults, threats), physical (e.g. hitting, punching, kicking, scratching, tripping, spitting), social ( e.g. ignoring, excluding, ostracising, alienating, making inappropriate gestures) or psychological (e.g. spreading rumours, dirty looks, hiding or damaging possessions, malicious SMS and email messages, inappropriate use of camera phones). Literature review of the anti-bullying and anti-harassment measures In Australia, the workplaces identify bullying by the three criteria mentioned in most of the anti-bullying, anti-harassment and anti- discrimination policies (Comcare,2010; NT WorkSafe, 2012; SafeWork South Australia, 2010; WorkCover NSW, 2009; Workplace Health and Safety Queensland, 2004; WorkSafe Victoria, 2009; WorkSafe Western Australia, 2010). The criteria are, they are repeated rather than singular, unreasonable and pose a risk to cause health and safety issues. Bullying and harassment not only have an effect on the health of the individuals being bullied (Einarsen et al, 2011) but also have significant financial implications on the organisations that do not take measures to prevent them (Australian Productivity Commission, 2010; Einarsen et al, 2011). Therefore preventing bullying/harassment by providing safe work environment in order to avoid psychological impact on the worker’s health are the organisation’s responsibility (Lyon Livermore, 2007). There is considerable literature around the causes of the work place aggression/bullying which are placed into three classes ‘internal’ and ‘external’ factors and their ‘interaction’. For example, internal influences are related to the personality or the severity of illness of the patients whereas external influences focus on factors like shortage of staff or noisy stressful work environment. The interactional approach acknowledges the interplay of the internal and external factors in triggering maintaining and exacerbation workplace aggression which is manifested through harassment or bullying of the staff. The workplace should not tolerate harassment, bullying or discriminative behaviour of any kind, whether it is by the managers, staff, contractors, advisors or others associated with the organisation in the course of its operations. All staff should be informed and trained at the time of employment, the organisations stance on harassment, bullying and discrimination. Increased awareness will persuade staff to have ‘zero tolerance’ for bullying and will encourage workers to combat it either by refusing to take part in it or by not keeping silent and reporting the incident on time. Furthermore early intervention is important. Regular workplace surveys and informal and formal discussions with the workers will help secure early intervention (Moore, Lynch Smith, 2006). Workplace bullying and harassment in the health sector affects not only the professional but also the personal lives of the staff. They have an impact on the patients they care for and on the organisations reputations and the fiscal health. For example it was evident from one of the studies that nurses feel less safe at work primarily because of their colleagues bullying and harassment than from the patients or their relatives. Poor staff relations and negative organisational environments were identified as the main reasons for the workplace bullying (Farrell Shafiei, 2012). Hence positive organisational environments including support from the supervisors, managers and colleagues can help buffer the negative influences of the workplace bullying and harassment as well as enhancing the staff’s perception to cope with the situation when it arises (Parzefall Salin, 2010). Moreover where there is support from the colleagues and the managers, and where training and information to deal with the workplace bullying is available to the staff, it is observed that these can help buffer some of the negative health consequences of the bullying and violence (Schat Kelloway, 2003). In order to reduce the incidence of bullying in the public health organisations in Australia, research suggests that the focus should be on four areas of the people management practices which include the quality and frequency of the performance feedback, level of supportive leadership, building an engaging work team environment and establishing managers have accountability for people management (Cotton et al, 2008).These four areas of people management practices can be achieved by taking a proactive approach to bullying through promoting a positive workplace culture, senior management commitment, developing a bullying policy and related procedures, communication and consultation, monitoring of the work climate by surveys and other methods and informing training and instructing the employees (Comcare, 2010) In the health service organisations, management and staff are equally responsible to prevent the bullying and harassment at the workplace. Management has the responsibility to monitor the working environment to ensure that acceptable standards of conduct are observed at all times, model appropriate behaviour themselves, promote organisations anti-harassment policy within their work area, treat all complaints seriously and take immediate action to investigate and resolve the matter. Staff has the responsibility to comply with the organisations anti-harassment policy, offer support to anyone who is harassed and advise them where they can get help and advice, maintain complete confidentiality during the investigation of a harassment complaint, report bullying, harassment and offensive behaviour, even if not involved, to management. Over the past few years Victoria State has strictly implemented a number of anti-harassment and anti-bullying initiatives in their public health system inclu ding workplace redesign, provision of personal duress alarms, employment of specially trained security staff and so forth. However their translation to practice is left to individual health organisations as a result of which they were rarely followed up to know if the above initiatives were successful. This lack of evaluation measures reflects the situation that is prevalent across the Australia in respect to workplace bullying, where there is no agreed national approach and little in the way of the systematic program appraisal (Farrell Cubit, 2005). Conclusion There was some concerns in the past that the anti- bullying preventive measures mentioned in the literature and the polices adopted by the health service organisations were not in tandem with each other as a result of which the services failed to prevent and intervene in bullying. However recent studies has provided evidence that not only the Australian health care organisations are starting to make active efforts to prevent harassment and bullying, but also their efforts agree fairly with the recommendations emanating from the research world. Furthermore the Human Resources departments in the health care organisations seem to recognise the importance of dealing with the bullying and hence go beyond just formulating the policies or training the staff. The active involvement of the Human Resource personnel also negates the popular belief in the past that it is the role of the managers and the immediate supervisors and not the HR department to intervene in preventing the bullying at th e workplace. There is a need to implement the HR practices like attitude and training surveys, formal appraisal discussions and performance based pay etc. in the health care organisations. The other key factor that needs to be changed in the health care organisations is that the anti- bullying action is rather undertaken for the problems reported and not as a preventive measure. In other words many health organisations adopt anti-bullying measures as part of a reactive rather than a proactive strategy. Also there is an urgent need to recognise that the anti-bullying polices in the health services should be framed based on the needs and requirements of the local organisation and not copy pasting from other sources or merely imitating other organisations. Thus, a policy that does not address the local organisation needs is less likely to be adapted, less likely to be implemented and less likely to be applied when the bullying actually occurs. Furthermore, it is observed that there is severe lack of evaluations and surveys to identify the effectiveness of the currently practised anti-bullying measures in the health organisations. As health services are becoming increasingly complex in terms of staff, resources, communications and so forth, they should have clear expectations regarding the transparency of the employer’s interpersonal interactions to avoid the occurrence of the complex or troublesome interpersonal dynamics. The health organisations should take all complaints of harassment, bullying and/or discrimination seriously and deal with them promptly in a spirit of compassion and justice. They should ensure that the privacy is maintained and the complainants and witnesses are not victimised in any way either by the management or the employees. References: Australian Productivity Commission 2010, Performance benchmarking of Australian business regulation: Occupational health and safety, Canberra, viewed 25 March 2014, http://www.pc.gov.au/__data/assets/pdf_file/0007/96163/ohs-report.pdf. Comcare. 2010. Preventing and managing bullying at work – A guide for employers (OHS65), Canberra, viewed 25 March 2014, http://www.comcare.gov.au/forms__and__publications/publications/safety_and_prevention/?a=40108 Cotton P, Hart P, Palmer R, Armstrong K, Schembri C 2008, Working well: An organisational approach to preventing psychological injury, a guide for corporate, HR and OHS managers. 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