Bank Accounts Essay Example for Free

Bank Accounts Essay Saving a/c savingsare meant to promote the habit of saving among the citizens while allowing them to use their funds when required. The main advantage of Savings Bank Account is its high liquidity and safety. On top of that Savings Bank Account earn moderate interest too. The rate of interest is decided and periodically reviewed by the Government of India. Presently, the rate of interest is 3. 5% compounded half yearly. Savings Bank Account can be opened in the name of an individual or in joint names of the depositors. Savings Bank Accounts can also be opened and operated by the minors provided they have completed ten years of age. Accounts by Hindu Undivided Families (HUF) not engaged in any trading or business activity, can be opened in the name of the Karta of the HUF. The minimum balance to be maintained in an ordinary savings bank account varies from bank to bank. It is less in case of public sector banks and comparatively higher in case of private banks. In most of the public sector banks, minimum balance to be maintained is Rs. 100. In accounts where cheque books are issued, a minimum balance of Rs. 500/- has to be maintained. For Pension Savings Accounts, minimum balance to be maintained is Rs. 5/- without cheque facility and Rs. 250/- with cheque facility. Things to Consider While Opening a Savings Account It is advisable to seek the following information from bank before opening the account: †¢Minimum balance requirements. Penal provisions in case the balance falls below the minimum stipulated amount †¢Penalty in case of return of cheques issued or instruments sent on collection. Collection facilities etc. offered and charges applicable. †¢Details of charges, if any for issue of cheque books and limits fixed on number of withdrawals, cash drawings, etc. Document Required For Opening a Savings Account †¢Two passport size photographs.

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Bob is a successful businessman who works hard and supports his family. He has three children and his wife is not happy with him. She thinks he spends too much time working and not having enough time to spend with her and her children. He supports them financially, but is always busy with work and his clients. One day, his wife decides to tell him about how she feels, but he comes home that day and hugs her tightly. As a confused wife, she wonders what is wrong. He starts behaving differently from the very next day. He took her out to eat and made time to spend with the children. After a couple of weeks, Bob’s wife reads a letter from the doctor conforming that Bob has lung cancer and needs to set up an appointment as soon as possible. She goes to the doctor immediately and finds out that his lung cancer is in the last stage because he smokes about three to four packs of cigarettes every day. Bob doesn’t know that he is in the last stage, but his wife does. Furthermore, his wife breaks down and decides to be there for him so they could make it through. She forgets about all the complaints she had against him. Although, she could be lying because she knows he is suffering through a lung cancer, but this lie makes Bob really happy and he gains confidence that everything will be fine as long as his wife is there for him. A few weeks later, the doctor tells him that he has 50% chance of recovering, but in reality all the tests says that he has about 4 months to live. The doctor lies to Bob because he knows Bob will be depressed about it and would not be able to enjoy the last few months of his life. If the doctor told him the truth, he would become weak and depressed. Again, this lie makes Bob happy and he will cherish his last momen... ...ause he will believe the lie he was told. Deontologists would think about the consequences if he finds out the truth. The consequences will be negative if he does find out the truth. In this situation, Bob is the only one that is affected and not the doctor. All we want is to see Bob happy. I would say that lying to him is not wrong at least in this type of situation. Hurting his human dignity is nothing compared to hurting his mind psychologically. He would be more hurt hearing the truth and kill himself. Should the doctor let him commit suicide? Is it right to purposely hurt someone when they are already hurt and depressed? If it is our duty to avoid harming others, then this principle should be applied here. We cannot hurt poor Bob more by telling him the bitter truth. Lying is acceptable at least in this situation because we don’t want Bob to commit suicide.

Fololio Mulagia Essay

In May of 2011 a Samoan schoolteacher by the name of Folole Muliaga was sent home from a New Zealand hospital suffering from a terminal illness called cardiomyopathy. Because, doctors believed she did not have much longer to live she was sent home with two oxygen tanks to help aid her with her illness. McNaughton (2006) states that on May 29 a contractor for Vircom EMS was sent by Mercury Energy to the Muliaga’s home to disconnect the electricity supply. Mrs. Muliaga pleaded with the contractor to keep the electricity because of her health condition but he disagreed. A few short hours later Mrs.  Muliaga would perish. Prior to the Muliaga’s electricity being disconnected, the family had an outstanding balance of $168. 00, and could not afford to pay the bill. The case of Folole Muliaga would later be broadcast around the world capturing the attention of many government officials. This paper will cover many aspects including but not limited to: the consequences and outcomes of the scenario, the illegal and unethical aspects of the Mercury Company, was the role of the coroner and police department justifiable, and lastly, what reforms and guidelines were put in place as a result of the devastating tragedy? Evaluate Ethical Behavior: The Historical Case of Folole Muliaga Folole Muliaga, a 44 year old terminally ill mother of four suffering from cardiomyopathy perished after not being able to pay a $168. 00 electricity bill. As a result of Mrs. Muliaga sickness she was unable to continue her teaching career which brought in the majority of the household income. Johnston (2007) states that Mercury Energy was unaware that disconnecting power to a South Auckland home could have potentially life-threatening consequences. The resulted consequence was too harsh; to disconnect the electricity given that Mrs. Muliaga was just released from the hospital days earlier. The major price Mrs. Muliaga paid was dying 3 hours after the electricity was disconnected from her home. The family of Mrs. Muliaga would later dispute that the bill was not overdue, and that it was actually due days later. Bennett (2007) states that Folole’s husband actually made a partial payment on May 17 and would make another payment a few days later. The Mercury Energy contractor who disconnected the power says he was unaware that Mrs. Muliaga depended on oxygen tanks to live. What’s disturbing is that the Muliaga family states that when the ontractor arrived, Mrs. Muliaga invites him in and thourgly explains to him her health circumstances. She begins to plead with him not to disconnect the electricity, but he is not being attentive to her needs. He states he is simply doing his job, and that she must contact Mercury Energy to have the electricity restored. Although health professionals who treated the victim said her health problems had tremendously worsened over the past few months, does not make it morally nor ethically factual for the company to not hear the concerns of its customers. After the incident went ational the general manager for Mercury Energy stated that he was sure the company was not at fault for Mrs. Muliaga’s death. Cleve (2007) He contended: I’m confident that the processes we have put, the communications we had with the customer, were very clear about the circumstances that would happen. The general manager’s arrogance toward Muliaga’s death clearly shows his lack of concern and unethical behavior. His thoughts are that the company done nothing immorally or illegally wrong. In the case of Folole Muliaga there was almost a trial by media, pressuring Mercury to change how they conduct business with customers who ave severe medical conditions. A company’s culture is the biggest element of how it handles difficult situations. Companies no matter how large or small should have a value statement that aids them on what is considered ethical behavior. The actions of Mercury Energy were illegal in the eyes of many consumers and shareholders around the world. It’s very bothersome and also reality that individuals who occupy senior level managenet roles does not uphold the standards and intergrity when it comes to satisfying the needs of customers. Meredith (2007) says the behavior of Mercury Energy top xecutives serves to do no more than confirm just about every negative stereotype there is about impersonal, arrogant, and greedy corporates. What makes Folole’s story so alarming is that Mercury Energy is a state owned enterprise, which means the taxpayers solely, owns the company. Research states that Jones (1991) a moral issue is present when a person’s actions, when freely performed, may harm or benefit others. It’s imperative to know that many judgments are moral decisions because they have a moral component, such as the case of Folole Muliaga. The actions that took place in Mrs. Muliaga’s home was horribly illegal and unethical, because the situation was not investigated thourghly. If the contractor would have taken five minutes to contact someone about Mrs. Muliaga’s severe health condition her life probably could have been prolonged. The contractor’s irrational behavior to further assist the family is what makes this situation so demoralizing. A few weeks after Folole’s Muliaga’s death, Police announced that there was no evidence that did not point to Mercury Energy nor the contractor’s that they were at fault for Mrs. Muliaga’s death. After Folole’s death the family expressed that the Police department showed lack of â€Å"Cultural Awareness† and had â€Å"institutionalized racism†. Bridgeman (2010) Coroner Gordon Matenga concluded that Mrs. Muliaga died of natural causes but, an arrhythmia caused by morbid obesity and that the cessation of oxygen therapy and stress arising from the fact of the disconnection (as opposed to the way in which the power was disconnected) have contributed to her death. To agree with the coroner’s report individuals would really have to reexamine Folole’s case. Certainly, the victim had health issues that contributed to her death. But, the question we must ask ourselves is that if Mrs. Muliaga’s electricity was never turned off would she have still perished a few hours later. Many of us would answer the question by saying no, she would still be alive. In many of our thoughts and private belief’s we would say that Mercury Energy is responsible for her death. Summary: The Folole’s Muliaga’s story should have been an eye opener for all major corporations. Many companies today do not follow Corporate Social Responsibility. Many top managers and executives are simply in the business to make a large profit off of its shareholders and onsumers. Organizations have to reexamine the culture, morals, and values of why they are in business. Meredith (2007) In the case of Mercury Energy, those needs should have been understood to include the cultural and economic issues of a Samoan family struggling to make a go of their lives in New Zealand and to have been deserving of care and respect in addressing what turned out to be the life threatening issue of the discontinuation of their electricity supply. A variety of theoretical perspectives have been established to support researchers and most mportantly managers on social issues. These concepts would help organizations to understand the importance of having values and morals when it comes to dealing with the public. The social life cycle theory was used to analyze the Mercury Energy case. Ackerman (1975) found that, in general, the responsiveness of business organizations to social issues progresses through a three-phase trajectory; policy, learning, and commitment. Most of us who are familiar with the Muliaga case would say that the company was in refutation about the Muliaga issue.

Sigmund Freud s Theory Of Psychoanalysis - 1339 Words

Sigmund Freud Biographic Description of Sigmund Freud Sigmund Freud was born on May 6, 1856 in Freiberg (currently known as Czech Republic). Freud is best known as the founder of psychoanalysis, which entails a scientific analysis of unpacking unconscious conflicts based on free associations, fantasies, and dreams of the patient. He was among the greatest psychologists of the 20th century, and his legacy lasts up to now. While young (4 years old), his family relocated to Vienna where he lived and worked for the better part of his life. In 1881, Feud attained his medical degree from the University of Vienna and proceeded to practice as qualified physician at the Vienna General Hospital. During the early years of his career, Freud conducted extensive researches on microscopic neuroanatomy, aphasia, and cerebral palsy. Considering himself a scientist rather than a doctor, Sigmund Freud established a private practice and started treating various psychological disorders. In his early practice, he obtained influence from other psychoanalysts, most notably Josef Breuer, who nurtured him into one of the most popular figures in the world of psychology. Through his practice and theories, Freud helped the global society to shape its perception on a number of issues including therapy, sexuality, personality, memory, and childhood. Among the theories developed by Sigmund Freud are the defense mechanism; the conscious and unconscious mind, the psychosexual development; the Id, Ego, andShow MoreRelatedSigmund Freud s Theory Of Psychoanalysis2367 Words   |  10 Pages Sigmund Freud created psychoanalysis, a system through which an expert unloads oblivious clashes in light of the free affiliations, dreams and dreams of the patient. Psychoanalytic hypothesis is a strategy for exploring and treating identity issue and is utilized as a part of psychotherapy. Included in this hypothesis is the way to go that things that happen to individuals amid adolescence can add to the way they later capacity as grown-ups (Gay, 1998). Freud s psychodynamic methodology has promptedRead MoreSigmund Freud s Psychoanalysis Theory2380 Words   |  10 Pages Contemporaries of Sigmund Freud’s Psychoanalysis Theory Kevin Stout Florida Institute of Technology Abstract Sigmund Freud created psychoanalysis, a system through which an expert unloads oblivious clashes in light of the free affiliations, dreams and dreams of the patient. Psychoanalytic hypothesis is a strategy for exploring and treating identity issue and is utilized as a part of psychotherapy. Included in this hypothesis is the way to go that things that happenRead MoreSigmund Freud s Theory Of Psychoanalysis1413 Words   |  6 PagesEver since Sigmund Freud developed psychoanalysis theory, its applicability has been extended beyond therapy to literature. 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The theory of Psychoanalysis was one of such theory that was founded. Psychoanalysis emphases on the unconscious phases of personality development. The main tenets of this theory are characterized into four subsections. Firstly, it states that early childhood experiences are important inRead MoreSigmund Freud s Theory Of Psychology1283 Words   |  6 PagesSigmund Freud (1856-1939), is a pioneer in the field of psychology in various ways. His dedication to his field helped shape the minds of many nineteen-century contemporary schools of thought. Most notably, Freud’s work in psychoanalytic theory, according to Tan (2011) earned him the title of, â€Å"father of psychoanalysis† (p. 322). Moreover, Tan Taykeyesu (2011) report that Freud’s genius is not just in psychoanalysis, but also when we â€Å"think Oedipus complex, infantile sexuality, and repression†