Category: Currency

Here is your essay on the major Schools of Hindu law:The Hindu scriptures were not uniformly interpreted by the Hindu scholars, and this gave rise to diverging opinions on the interpretation of particular texts. Colebrook, the learned European scholar of Hindu Law, spoke of this divergence as representing schools of Hindu Law. Thus, the Hindu jurists themselves never propounded any theory or doctrine dividing Hindu Law into various schools of thought, and it was the European writers on the subject who labelled the differences in interpretation as representing specific “schools”, a term which has now gained currency in Hindu Law. ADVERTISEMENTS: As regards the origin of schools of Hindu Law, the following observations of the Privy Council are relevant: “The remoter sources of Hindu Law (i.e. the Smritis) are common…

Legal Provisions of Section 28 of Indian Penal Code, 1860.Counterfeit:When a person causes one thing to resemble another thing with the intention of deceiving thereby or with the knowledge that deception will thereby be practised, he is said to counterfeit. Explanation 1 makes it clear that it is not necessary that the imitation should be exact. As long as there is such a close resemblance that deception may be practised it is of no importance that, there are differences between the original and the imitation, and if the abovementioned intention or knowledge is proved it will be a case of counterfeiting. Actual deception takes place or not is of no consequence. Image Source: thirddegreemerch.com ADVERTISEMENTS: Where there is no possibility of a deception because the imitation is so different from…

Legal Provisions of Section 511 of Indian Penal Code, 1860.Punishment for attempting to commit offences punishable with imprisonment for life or other imprisonment:This section provides for punishment for attempting to commit offences punishable with imprisonment for life or other imprisonment. It says that whoever attempts to commit an offence punishable by the Code with imprisonment for life or imprisonment, or to cause such an offence to be committed, and in such attempt does any act towards the commission of the offence, shall, where the Code has not made any express provision to punish such attempt, be punished with imprisonment of any description provided for the offence, for a term extending up to one-half of the imprisonment for life or, as the case may be, one-half of the longest term of…

1. Banking crisis: When a bank suffers a sudden rush of withdrawals by depositors, this is called a bank run. Since banks lend out most of the cash they receive in deposits, it is difficult for them to quickly pay back all deposits if these are suddenly demanded, so a run may leave the bank in bankruptcy, causing many depositors to lose their savings unless they are covered by deposit insurance.A situation in which bank runs are widespread is called a systemic banking crisis or just a banking panic. A situation without widespread bank runs, but in which banks are reluctant to lend, because they worry that they have insufficient funds available, is often called a credit crunch. In this way, the banks become an accelerator of a financial crisis.Examples…

The Great Depression of the 1930s, and the subsequent actions, like currency devaluations and trade restrictions imposed by many countries so as to eliminate the impact on domestic income, led to lowering of world trade and increase in unemployment. This led to Bretton Woods Conference, attended by 44 countries, in July 1944.The IMF came into being on December 27, 1945 as a result of this Conference. It is a “cooperative apolitical intergovernmental monetary and financial institution.” Presently there are 185 members of IMF (with the exception of Taiwan being expelled in 1980, North Korea and Cuba being left out in 1964 and a few small member states of the UN). Each member does not enjoy equal voting strength. ADVERTISEMENTS: The IMF draws its financial resources principally from the quota subscriptions…

Section 192 defines “Fabricating False Evidence” It defines: Sec. 192. Fabricating false evidence:Whoever causes any circumstance to exist or makes any false entry in any book or record, or electronic record or makes any document or electronic record] containing a false statement, intending that such circumstance, false entry or false statement may appear in evidence in a judicial proceeding, or in a proceeding taken by law before a public servant as such, or before an arbitrator, and that such circumstance, false entry or false statement, so appearing in evidence, may cause any person who in such proceeding is to form an opinion upon the evidence, to entertain an erroneous opinion touching any point material to the result of such proceeding is said “to fabricate false evidence”. image source: pocketperspectives.files.wordpress.com ADVERTISEMENTS:…

Legal Provisions of Section 489E of Indian Penal Code, 1860.Making or using documents resembling currency-notes or bank-notes:Making or using document resembling currency-notes or bank­notes has been punished under this section. The first sub-section of this section states that whoever either makes any currency-note or bank-note or causes the same to be made, or uses the same for any purpose whatsoever, or delivers to any person, any document purporting to be or in any way resembling the same or so nearly resembling the same as to be calculated to deceive, shall be punished with fine extending up to one hundred rupees. Image Source: wikieducator.org ADVERTISEMENTS: The second sub-section states that if any person, whose name appears on a document the making of which is an offence under the first sub-section stated…

Chloroplasts: The details of chloroplast are given below as they are of wide occurrence and great importance. These familiar type of plastids contain the photosynthetic pigment—the chlorophyll. Chloroplasts are present in all green coloured eukaryotic cells. Image Source: s-media-cache-ak0.pinimg.comFungi lack chloroplasts and are, therefore, heterotrophic. In prokaryotic cells, like blue green algae and bacteria, organised chlorplasts are absent. Diameter of chloroplasts varies from 4-8 mm. It is about 2 mm thick. ADVERTISEMENTS: Structure: Chloroplast is surrounded by two unit membranes. There is a space between two membranes, called periplastidial space. The internal structure of the plastid shows two distinct parts— (i) colourless ground substance called stroma and (ii) closed, flat, stack-like membrane system called grana.Stroma is watery and proteinaceous ground substance. It contains starch grains, lipid droplets, DNA and free…