Indian Financial Institute BASICS

7/30/2019 Indian Financial Institute BASICS

1/31

Afoliog Ptru`turh io Ioeif

Kmmliog Fjhfe ay Kmmliog Af`l6

# Euvvuri Puaafrfm

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6/

Dmr tjh didtj yhfr mo f trmt+ ymu jfvh givho ch tjh privikhgh md

iofugurftiog tjis prhstigimus foe iodkuhotifk DI@@I#IAF Fooufk Afoliog

@modhrho`h/ Io cy didtj yhfr fs Gmvhromr md QAI+ I jfvh tjh Gmvhromrs

fooufk s`jheukh dircky iogrfiohe io cy cioe/ I jfvh `mch tm hxph`t+ hvho

kmml dmrwfre tm+ tjis hvhot io Phpthcahr hvhry yhfr/ I fc fwfrh tjft tjh

mrgfoizhrs jfvh fevfo`he tjh s`jheukh ay f cmotj tm hxthoe tm ch tjh

jmomur md iofugurftiog tjis `modhrho`h ahdmrh I ehcit mddi`h ohxt cmotj/ I

fc ehhpky tmu`jhe/

Afoliog Ptru`turh

1/ Wjft sjmuke ah tjh dm`us md cy rhcfrls tmefy= Ft hfrkihr`modhrho`hs+ I dm`usshe mo ofrrmw tjhchs witjio tjh afoliog emcfio/

Pjmuke I pi`l fomtjhr ofrrmw tjhch dmr tjis yhfrs `modhrho`h fs whkk= I

ehkiahrfthe mo it quith f ait/ Pio`h I wikk ah kfyiog emwo mddi`h fs

Gmvhromr md tjh Qhshrvh Afol io famut 5 whhls tich+ I ehthrciohe tjft it

cfy ah cmst fpprmprifth id I kmmshohe tjh `mostrfiot foe feerhsshe f


2/31

armfehr tmpi`/ Foe tjh tmpi` I jfvh `jmsho is tm kmml fjhfe tm tjh

fpprmprifth afoliog stru`turh dmr Ioeif/

0/ Wjho wh issuhe tjh guiehkiohs dmr ki`hoìog md ohw afols io tjhprivfth sh`tmr io Dharufry tjis yhfr+ tjh Qhshrvh Afol sfie tjft it wikk

`mch mut witj f Eisùssimo Rfphr mo tjh Afoliog Ptru`turh io Ioeif/ Ujft

pfphr is io tjh diofk stfghs foe wikk ah rhkhfshe sjmrtky/ Ujh issuhs tjft I

wikk feerhss tmefy wikk iohvitfaky mvhrkfp witj smch md tjh issuhs tjft wikk

ah `mvhrhe io tjh Eisùssimo Rfphr aut tjhrh ohhe ah om prhsucptimo tjft

tjh `mvhrfgh foe oufoìog md tjh issuhs wikk ah sicikfr/

Ioeifo Diofoìfk Ph`tmr # Ujh Aig Ri`turh

5/ Io mrehr tm kmml fjhfe tm issuhs mo tjh wfy dmrwfre+ it cfy ahiostru`tivh tm kmml ft f sofp sjmt md tjh Ioeifo diofoìfk systhc fs it is

tmefy foe rhvihw tjh hvmkutimo md tjh afoliog systhc mvhr tjh kfst 12

yhfrs md h`momci` rhdmrcs/ Kht ch em tjft qui`lky foe arihdky sm fs tm sht

tjh `mothxt dmr tjh issuhs tjft I wikk feerhss/


3/31

Ufakh # I

Ioeifo Diofoìfk Pysthc # Pjfrh ay Fssht Pizh # 1261

Phgchot Cfrlht Pjfrh mdDiofoìfk Fsshts

*Rhr`hotfgh)

Afols // 40

Iosurfo`h @mcpfoihs 69

Omo#afoliog Diofoìfk Iostitutimos / :

Cutufk Duoes // / 4

Rrmviehot foe Rhosimo Duoes / / 5

Umtfk 622

Afols emciofth tjh Ioeifo diofoìfk systhc/Ufakh # II

Ioeifo Afoliog Pysthc # Pjfrh ay Fssht Pizh

Iostitutimo Cfrlht Pjfrh md UmtfkAfoliog Fsshts *1261)

*Rhr`hotfgh)

P`jheukhe @mcchrìfk Afols /

md wji`j>

/ 91/5

Ruaki` Ph`tmr Afols 47/1

Rrivfth Ph`tmr Afols /// 6:/7

Dmrhigo Afols / 4/8

Qhgimofk Qurfk Afols // /// 1/7


4/31

Ufakh # III

Pjfrh io tjh Afoliog Ppf`h

Uyph md Afols Oucahr md

Afols

Oucahr md

Arfo`jhs

Rhr`hotfgh Pjfrh

md Oucahr md

Arfo`jhs

Cfrlht Pjfrh

md Fsshts

*Rhr`hotfgh)

Ruaki` Ph`tmr 14 47+544 :0/2 71/:

Rrivfth Ph`tmr 12 60+581 64/4 12/1

Dmrhigo Afols 56 010 2/5 7/2

Umtfk :7 :6+156 622/2 622/2

Ruaki` sh`tmr afols jfvh cmrh arfo`j prhsho`h rhkftivh tm tjhir sjfrhmd fsshts/

Wjft em tjh famvh eftf thkk us famut tjh aig pi`turh=

Witjio tjh afoliog systhc+ puaki` sh`tmr afols *RPA) `motiouh tmemciofth witj 70( md cfrlht sjfrh md fsshts foe :0( md arfo`jhs/

Qurfk foe urafo `m#mphrftivhs afols jfvh f rhkftivhky scfkk sjfrh iotjh afoliog systhc/ Jmwhvhr+ givho tjhir ghmgrfpji` foe

ehcmgrfpji` mutrhf`j+ tjhy pkfy f lhy rmkh io prmvieiog f``hss tm

diofo`ifk shrvi`hs tm kmw foe cieekh io`mch jmushjmkes io amtj rurfk

foe urafo frhfs/

Pi ik k QQA k l k i i di i k i k i


5/31

Ufakh # IT

Hxpfosimo md Afoliog Pio`h Oftimofkizftimo

Yhfr 6949 6996 1227 1261

Om/ md @mcchrìfk Afols *io`k/

QQAs foe KFAs)

70

171

6:1 670

Om/ md Afol Mddi`hs :+141 42+872 75+840 6+26+146

md wji`j Qurfk foe shci#

urafo afol mddi`hs

8+671 54+882 57+679 41+246

Rmpukftimo phr mddi`h 45+222 65+222 68+222 60+222

Rhr `fpitf Ehpmsit md P`jheukhe

@mcchrìfk Afols *P@As)

`:: `1+04: `10+0:1 `86+624

Rhr `fpitf @rheit md P@As `4: `6+505 `6+7856 `09+929

Pio`h oftimofkisftimo md 65 cfnmr `mcchrìfk afols io 6949+dmkkmwhe ay oftimofkisftimo md fomtjhr 4 afols io 69:2+ Ioeifo

afoliog systhc jfs hxpfoehe rfpieky/

Ujh oucahr md afol mddi`hs io`rhfshe drmc famut :+222 io 6949 tmmvhr 622+222 ay 1261/

Ujh fvhrfgh pmpukftimo phr arfo`j mddi`h jfs sjfrpky eh`kiohe drmc45+222 io 6949 tm 60+222 tmefy/

Amtj phr `fpitf ehpmsit foe phr `fpitf `rheit jfvh hxpfoehe famut422 tichs/ Hvho f``muotiog dmr iodkftimo+ tjis is sigoidi`fot

hxpfosimo/


6/31

Cfnmr Afoliog Ph`tmr Qhdmrcs sio`h 6996

Ujh h`momci` rhdmrcs ioitifthe io 6996 fksm hcarf`he tjh afoliog

systhc/ Dmkkmwiog frh tjh cfnmr rhdmrcs fiche ft icprmviog hddi`iho`y+

prmeu`tivity foe prmditfaikity md afols/

Ohw afols ki`ho`he io privfth sh`tmr tm ionh`t `mcphtitimo iotjh systhc/ 62 io 6990 foe 1 cmrh io 1220/ Fomtjhr kmt md ohwafols wikk ah ki`ho`he io tjh ohxt dhw cmotjs/

DEI,DII up tm 75( fkkmwhe io privfth sh`tmr afols Kistiog md RPAs mo stm`l hx`jfoghs foe fkkmwiog tjhc tm

f``hss `fpitfk cfrlhts dmr fugchotiog tjhir hquity+ suanh`t tm

cfiotfioiog Gmvhrochot sjfrhjmkeiog ft f cioicuc md 86(/

Rrivfth sjfrhjmkehrs rhprhshothe mo tjh Amfre md RPAs/

Rrmgrhssivh rheu`timo io stftutmry prh#hcptimo *PKQ foe @QQ)tm icprmvh tjh rhsmur`h afsh md afols sm fs tm hxpfoe `rheit

fvfikfakh tm privfth sh`tmr/ PKQ `urrhotky ft 10( *0:/8( io

6996) foe @QQ ft 5( *68( io 6996)/

Femptimo md iothroftimofk ahst prf`ti`hs io afoliog rhgukftimo/Iotrmeu`timo md pruehotifk omrcs mo `fpitfk fehquf`y+ IQF@

*io`mch rh`mgoitimo+ fssht `kfssidi`ftimo+ prmvisimoiog)+

hxpmsurh omrcs ht`/

Rjfshe kiahrfkisftimo md arfo`j ki`hosiog/ Afols `fo omw mphoa j i Ui 1 Ui 4 i j i k d


7/31

fkkm`ftivh hddiìho`y foe strhogtjho tjh trfoscissimo md

cmohtfry pmki`y/

Afsh rfth *dkmmr rfth dmr khoeiog) iotrmeu`he *Nuky 1262)/Rrhs`riptimo md fo iothrhst rfth dkmmr mo sfviogs ehpmsit rfth

witjerfwo *M`tmahr 1266)/

Duo`timofk futmomcy tm RPAs/ Xsh md iodmrcftimo th`jomkmgy tm icprmvh tjh hddiìho`y foe

prmeu`tivity+ hojfo`h tjh pfychot foe shttkhchot systhcs foe

ehhpho diofoìfk io`kusimo

Ptrhogtjhoiog md Lomw Ymur @ustmchr *LY@) foe Foti#cmohy Kfuoehriog *FCK) omrcs< cfliog afoliog khss prmoh

tm diofoìfk faush/

Icprmvhchots io tjh risl cfofghchot ùkturh md afols/

Rmst#`risis Qhgukftmry Qhdmrcs Frmuoe tjh Wmrke

Ujh diofoìfk `risis hxpmshe tjh risl pmshe ay tjh GkmafkPysthci`fkky Icpmrtfot Diofoìfk Iostitutimos *G#PIDIs) fs tjhsh

whrh tmm aig tm dfik/

Rmst#`risis+ XP+ XL+ Hurmphfo Xoimo tmml ioitiftivhs *Rfuk FTmk`lhr io XP+ Pir Nmjo Ti`lhrs Ioehphoehot @mccissimo mo

Afoliog io XL+ Hrlli Kiilfoho io tjh Hurmphfo Xoimo) tm

rh`mcchoe fs stru`turfk rhdmrcs io tjh afoliog sh`tmr tm auike


8/31

Ujh Tmk`lhr Qukh foe tjh Emee#Drfol F`t Wfkk Ptrhht Qhdmrcfoe @mosuchr Rrmth`timo F`t jfvh armugjt sigoidi`fot `jfoghs

tm tjh XP diofoìfk systhc/

Ujh Tmk`lhr Qukh shpfrfths iovhstchot afoliog+ privfth hquityfoe prmprihtfry trfeiog *jhegh duoe) sh`timos md diofoìfk

iostitutimos drmc tjhir `mosuchr khoeiog frcs/ Afols frh omt

fkkmwhe tm sicuktfohmusky hothr iotm fo fevismry foe `rheitmr

rmkh witj `kihots+ su`j fs witj privfth hquity dircs/ Ujh Tmk`lhr

Qukh fics tm cioicizh `modki`ts md iothrhst ahtwhho afols foe

tjhir `kihots tjrmugj shpfrftiog tjh eiddhrhot typhs md ausiohss

prf`ti`hs diofoìfk iostitutimos hogfgh io/

Ujh Ioehphoehot @mccissimo mo Afoliog *Ti`lhrs Qhpmrt) ioXL jfs iothr fkif rh`mcchoehe riog dhoìog md XL afols+ su`j

tjft tjh riog dho`he afols wmuke ah phrcitthe tm hxthoe moky

rhtfik foe `mcchrìfk afoliog shrvi`hs tm kicithe `kihots

io`kueiog ioeivieufks foe scfkk foe cheiuc#sizhe mrgfoizftimos

*PCHs) io XL/

Ujh Kiilfoho Qhpmrt dmr tjh HX `mo`kuehe tjft risly diofoìfkf`tivitihs ohhe tm ah shpfrfthe drmc ehpmsit#tfliog afols witjio

tjh afoliog grmup+ witj tjh manh`tivh md cfliog afoliog grmups

*cfioky ehpmsit#tfliog foe prmvieiog diofoìfk shrvi`hs tm tjh

omo#diofoìfk sh`tmrs io tjh h`momcy) sfdhr foe khss `mooh`the

tm trfeiog f`tivitihs/


9/31

Issuh Om/ 6> Ruaki` vs Rrivfth Mwohrsjip md Afols

Fastrf`tiog drmc iehmkmgy+ drmc f prfgcfti` phrsph`tivh+ amtjpuaki` foe privfth afols jfvh rhsph`tivh fevfotfghs foe

eisfevfotfghs/ Rrivfth mwohrsjip ariogs `mcphtitimo+

prmdhssimofkisc foe mphrftimofk hddiìho`y/ Ruaki` mwohrsjip cflhs

it hfsihr tm pursuh smìfk manh`tivhs su`j fs cfss afoliog+ diofoìfk

io`kusimo ht`/

Rrivfth afols jfvh `mcpfrftivhky grhfthr drhhemc io thrcs mdrh`ruitchot+ sfkfry foe `mcphosftimo/ Mo tjh mtjhr jfoe+ RPAs frh

phr`hivhe tm mddhr cmrh nma shùrity+ foe `moshquhotky+ hcpkmyhh

turomvhr is kmwhr/

RPAs emciofth tjh afoliog sh`tmr io Ioeif foe wikk `motiouh tm ahemciofot io tjh dmrhshhfakh duturh/ Jmwhvhr+ tjhsh afols rhquirh

suastfotifk `fpitfk tm suppmrt grmwtj/

Ujh `riti`fk quhstimo is wjhtjhr tjh Gmvhrochot+ givho its kicithedis`fk spf`h+ `fo chht tjh hojfo`he `fpitfk ohhes md puaki` sh`tmr

afols uoehr tjh Afshk III `fpitfk rhgukftimos/

Qhshrvh Afol jfs cfeh fo hsticfth md tjh feeitimofk `fpitfkrhquirhchots md emchsti` afols dmr dukk Afshk III icpkhchotftimo tikk

Cfr`j 126:/ Ujhsh hsticfths frh afshe mo twm armfe fssucptimos>

*i) io`rhfsh io tjh risl whigjthe fsshts md 12( p/f/< *ii) iothrofk

f``rufk md tjh mrehr md 6( md risl whigjthe fsshts/

Uj i j j I ei a l ikk i


10/31

Pph`idi` tm puaki` sh`tmr afols+ tjh hsticfths sugghst tjft puaki`sh`tmr afols wmuke rhquirh fo feeitimofk `fpitfk tm tjh tuoh md`5/68

trikkimo< md wji`j hquity `fpitfk wikk ah md tjh mrehr md`6/50 trikkimo+

wjikh omo#hquity `fpitfk wikk ah md tjh mrehr md`1/71 trikkimo/ Ujh

Gmvhrochots `motriautimo tm tjh hquity `fpitfk md RPAs wmuke ah md

tjh mrehr md`922 aikkimo ft tjh hxistiog khvhk md sjfrhjmkeiog md tjh

Gmvhrochot/ Ujh Gmvhrochots `motriautimo wikk `mch emwo tm

fpprmxicfthky`442 aikkimo id its sjfrhjmkeiog `mchs emwo tm 86(/

Diofkky+ jmw sjmuke tjh Gmvhrochot hodmr`h its rigjts foemakigftimos fs tjh mwohr md RPAs= Ujrmugj tjh Amfre mr tjrmugj

mtjhr chfos md iothrf`timo=


11/31

Ufakh # T

Feeitimofk1

@mccmo Hquity Qhquirhchots md

Ioeifo Afols uoehr Afshk III

*Fcmuot io`aikkimo)

Ruaki`Ph`tmr

Afols

RrivfthPh`tmr

Afols

Umtfk

Feeitimofk Hquity @fpitfkQhquirhchots uoehr Afshk III

6502 112 6482

Feeitimofk Omo#hquity @fpitfkQhquirhchots uoehr Afshk III

1712 8:2 0022

Md Feeitimofk Hquity @fpitfk

Qhquirhchots uoehr Afshk III dmr

Ruaki` Ph`tmr Afols

Umtfk 5682 :22 5982

Gmvhrochot Pjfrh *ft tjh prhshotkhvhk md sjfrhjmkeiog pftthro)

922

# #

Gmvhrochot Pjfrh *id

sjfrhjmkeiog is armugjt emwo tm

86 phr `hot)

442 # #

Mvhr tjh kfst divh yhfrs+ tjh Gmvhrochot jfs iodushe`577 aikkimo iotjh RPAs/ Fo feeitimofk fcmuot md`652 aikkimo is prmpmshe tm ah

iovhsthe euriog tjh `urrhot yhfr/


12/31

Gmvhrochot dmr eikutimo md its stflh io f oucahr md puaki` sh`tmr

afols/

Givho its dis`fk `mostrfiots+ sjmuke tjh Gmvhrochot eikuth itssjfrhjmkeiog io RPAs tm 86( mr sjmuke tjh Gmvhrochot gm durtjhr

foe f`quihs`h io rheu`iog its sjfrhjmkeiog tm ahkmw 86(+ aut auike

io smch sfdhgufres dmr rhtfioiog rhquisith cfofghchot `motrmk=

Rmssiakh mptimos mtjhr tjfo tjh aueghtfry suppmrt fvfikfakh tm tjhGmvhrochot>

# Issufo`h md sjfrhs witj eiddhrhotifk vmtiog rigjts mr omo#vmtiog sjfrhs/

# Qheu`timo io tjh Gmvhrochot sjfrhjmkeiog foe ioshrtimo mdprmth`tivh `kfush tm prmth`t Gmvhrochots `motrmk mvhr

puaki` sh`tmr afols/

# Dmrcftimo md Jmkeiog @mcpfoihs dmr RPAs/ Ohhe dmr f ehafth mo tjh iehfk `fpitfk stru`turh md puaki` sh`tmr

afols su`j tjft tjhy `fo ahst shrvh tjh ehcfoes md io`kusivh grmwtj

md tjh h`momcy/

# # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # #


13/31

Issuh Om/ 1> @mosmkieftimo md Afols

@mosmkieftimo fssuche sigoidi`fo`h fdthr tjh iotrmeu`timo mddiofo`ifk sh`tmr rhdmrcs stfrtiog hfrky oiohtihs/

Gfiohe cmchotuc fdthr tjh Ofrfsicjfc @mccitthh # I *6996) putdmrwfre tjh armfe pftthro md tjh afoliog sh`tmr \0 mr 5 kfrgh afols+ :

tm 62 oftimofk afols+ km`fk afols foe rurfk afolsS/

Qhithrfthe ay tjh P/J/ Ljfo @mccitthh *6997)+ Ofrfsicjfc@mccitthh # II *699:)+ Qfgjurfc Qfnfo @mccitthh *1229)+

@mccitthh mo Diofo`ifk Ph`tmr Fsshsschot *@DPF) *1229) foe

@mccitthh mo Dukkhr @fpitfk F``muot @movhrtiaikity *1224)/

Fkk @mccitthhs vihwhe tjft rhstru`turiog md tjh afoliog systhcsjmuke ah cfrlht#erivho afshe mo vifaikity foe prmditfaikity

`mosiehrftimos foe armugjt famut tjrmugj f prm`hss md Chrghrs $

Fcfkgfcftimos/

Pio`h tjh dirst rmuoe md oftimofkizftimo md afols io 6949+ tjhrh jfvhahho f tmtfk md 56 chrghrs foe fcfkgfcftimos/ Md tjhsh+ 67

jfpphohe ahdmrh tjh mosht md rhdmrcs io 6996 foe 15 fdthr tjft/


14/31

Ujh ofturh md C$Fs jfs ahho fs dmkkmws>

Oucahr md `fshs

Ruaki` sh`tmr afol witj puaki` sh`tmr afol 0

Rrivfth afol witj puaki` sh`tmr afol 15

Rrivfth afol witj privfth afol 65

Umtfk 56

Frguchots io suppmrt md `mosmkieftimo

Jigjhr `fpitfk afsh fdthr `mosmkieftimo wikk df`ikitfth io`rhfshekhoeiog f`tivity foe dfsthr GER grmwtj/

Ammst iodrfstru`turh diofo`iog drmc tjh phrsph`tivh md hojfo`hehxpmsurh kicits dmr siogkh foe grmup amrrmwhrs/

Chht tjh afoliog shrvi`h ehcfoes md Ioeifo `mrpmrfths+ amtj ftjmch foe gkmafkky/

@mst ahohdits dmr afols euh tm h`momcihs md s`fkh foe h`momcihsmd s`mph su`j fs `hotrfkishe af`l mddi`h prm`hssiog+ hkicioftimo md

arfo`j mvhrkfp foe eupki`ftimo md fecioistrftivh iodrfstru`turh+

ahtthr cfopmwhr pkfooiog+ mpticuc duoes cfofghchot+

`mosmkieftimo md mphrftimos+ sfviogs io IU foe mtjhr pur`jfshs/


15/31

Kfrghr sizh chfos wiehr foe ri`jhr hxphriho`h io diofoìfkio`kusimo/ Rmssiakh tm ariog kfrghr `mkkh`tivh hxphriho`h tm iehotidy

su``hssduk cmehks/

Iothroftimofk f``hptfo`h foe rh`mgoitimo/ Ahtthr risl cfofghchot/

Frguchots fgfiost `mosmkieftimo

Khfe tm `mcpkhxity foe Umm#Aig#Um#Dfik *UAUD) mr Umm#@mooh`the#Um#Dfik *U@UD) cmrfk jfzfres witj fevhrsh icpf`t mo

diofoìfk stfaikity/

Qhgukftmry issuhs> Pigoidi`fot aig afols `muke rhsmrt tmcmompmkisti` prf`ti`hs tjft cfy rhsukt io uohqufk `mcphtitimo foe

eistmrtivh foe hvho prheftmry ahjfvimur io tjh cfrlht/ Pu`j

prf`ti`hs `muke fksm akuot tjh cmohtfry trfoscissimo foe cfrlht

ch`jfoisc dmr hddiìhot fkkm`ftimo md rhsmur`hs/

@muke pmsh prmakhcs su`j fs th`jomkmgy cigrftimo issuhs+ùstmchr fttritimo+ icpkhchotftimo `msts+ JQ issuhs *viz/ shoimrity+

sfkfry+ trfosdhrs+ prmcmtimo+ pfrity io phrls ht`/) foe kitigftimo+ wikk

omt ah fakh tm prmvieh phrsmofkizhe shrvi`hs prmviehe ay scfkk

afols/

@rithrif dmr `mosmkieftimo-chrghr

Rrhshotky+ sigoidi`fot slhwohss io tjh sizh md afols/ Ujh sh`moe


16/31

fempt prheftmry ahjfvimur foe dmr`h scfkkhr afols iotm uovifakh

cmehks/

Mrgfoi` chrghr mr iomrgfoi` chrghr=# # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # #

Issuh Om/ 0> Kfrgh foe Pcfkk Afols

Fo issuh rhkfthe tm tjh ehafth mo `mosmkieftimo io afoliog sh`tmr is

tjh chrits foe ehchrits md kfrgh foe scfkk afols/

Io suppmrt md kfrgh afols

Kfrgh afols `fo hxpkmit h`momcihs md s`fkh foe s`mph khfeiog tmh`momci` hddiìho`y/

Kfrgh afols wikk jfvh tjh `fpfìty+ rhsikiho`h foe ioomvftivh zhfk tmpursuh diofoìfk io`kusimo/ Ujhy wikk ariog eivhrsh hxphriho`h tm

ahfr mo km`fk ioitiftivhs/

Kfrgh afols `fo pmthotifkky ah`mch sigoidi`fot gkmafk pkfyhrs foetjhrhay givh f gkmafk rhf`j tm Ioeifo `mrpmrfths/

Kfrgh afols witj jugh `fpitfk afsh `fo ahtthr chht tjh jugh duoeiogrhquirhchots md tjh iodrfstru`turh sh`tmrs/

Fgfiost kfrgh afols

Kfrgh afols `fo ah`mch tmm#aig#tm dfik+ khfeiog tm cmrfk jfzfreprmakhcs


17/31

shùritisftimo+ ehrivftivhs trfeiog+ ht`/ `muke pmsh sigoidi`fot

systhci` risl ah`fush md tjhir `mcpkhxity foe mpfìty/

Kfrgh afols `fo ush pmwhr ehrivhe drmc tjhir iodmrcftimocmompmky tm supprhss `mcphtiog iostitutimos foe cfrlhts/

Kfrgh afols cfy eikuth tjh ahohdits md `mcphtitimo/Io suppmrt md scfkk afols

Pcfkk afols jfvh f `mcpfrftivh fevfotfgh io tjh suppky md `rheit tmscfkk ausiohss uoits+ scfkk dfrchrs foe mtjhr uomrgfoizhe sh`tmr

hotitihs+ tjhrhay durtjhriog tjh `fush md diofoìfk io`kusimo/

Pcfkk km`fk afols frh cmrh oicakh foe dkhxiakh/ Ujhy `fo hddh`tivhky`fthr tm uoafolhe frhfs foe chht km`fkishe ohhes/ @fo ah cmrh

hddiìhot io diofoìfk io`kusimo/

Pcfkk afols witj kicithe frhf md mphrftimo wmuke rhquirh khssiodrfstru`turh+ stfdd foe jho`h tjh mphrftimofk hxphoshs wmuke ahkmw/

Dfikurh md f scfkk afol wikk omt jfvh foy systhci` icpf`t foerhsmkutimo wmuke ah hfsihr/

Fgfiost scfkk afols

Pcfkk afols frh pmthotifkky vukohrfakh tm sh`tmr `mo`hotrftimo risl/Dmr iostfo`h+ `mccuoity afols io tjh XP suddhrhe kmsshs euh tm tjhir

hx`hssivh rhkifo`h mo khoeiog tm `mcchrìfk rhfk hstfth


18/31

Pcfkk afols frh omt aig homugj tm diofo`h aig iovhstchots+io`kueiog iodrfstru`turh/

Pcfkk afols frh prmoh tm km`fk iodkuho`h `fpturh/ F kfrgh oucahr md scfkk afols put prhssurh mo tjh suphrvismry

rhsmur`hs md tjh `hotrfk afol/

Mur Hxphriho`h witj KFAs -X@As -QQAs

Mut md six KFAs ki`hoshe ay QAI+ 1 whrh `kmshe emwo+ iothr fkif+euh tm ciscfofghchot foe moky 5 frh duo`timoiog/ Ujh mvhrfkk

phrdmrcfo`h md duo`timoiog KFAs is khss tjfo sftisdf`tmry fs tjhy

jfvh ah`mch jigj `mst stru`turhs/

Ujh KFA cmehk jfs iojhrhot whflohsshs mwiog tm its scfkk sizh foe`mo`hotrftimo risl rhsuktiog io uovifakh foe uo`mcphtitivh `mst

stru`turhs+ fevhrsh shkh`timo+ `mostrfiots io fttrf`tiog foe rhtfioiog

prmdhssimofk stfdd -cfofghchot euh tm km`ftimofk eisfevfotfgh/

X@As suddhr drmc ciscfofghchot+ grmwiog ORFs+ stfthiothrvhotimo+ pmkiti`izftimo foe pmmr rhsmur`h afsh/ Ujhrh jfvh ahho

666 chrghrs foe fcfkgfcftimos fcmog tjh X@As witj tjh oucahr

md XA@s pkf`he ft 6+46: fs ft hoe Cfr`j 1261/

Hxphriho`h witj QQAs is sicikfr/ Mvhr tjh yhfrs+ tjh oucahr mdQQAs jfs `mch emwo drmc 694 tm 41/

Issuhs witj ho`murfgiog kfrgh afols io Ioeif


19/31

jfvh om gkmafk prhsho`h/ Pmch md tjh Fchri`fo mr Hurmphfo afols

cfy omt ah kfrgh io thrcs md fsshts+ aut tjhy jfvh prhsho`h io cfoy

nurisei`timos/

Wjft typh md kfrghohss sjmuke Ioeifo afols ftthcpt= Kfrgh afolskilh tjh @jiohsh afols mr kfrgh afols witj gkmafk prhsho`h= Omth

tjft it wikk tflh shvhrfk yhfrs dmr mur afols tm f`jihvh tjh stftus md f

kfrgh gkmafk afol/ Mur aigghst afol is rfolhe ft famut 42 io tjh

gkmafk khfguh md kfrgh afols/ It cfy tflh yhfrs dmr mur afols tm

ah`mch gkmafk pkfyhrs ay wfy md mrgfoi` grmwtj/ Jmwhvhr+ wh

sjmuke fspirh tm jfvh f dhw Ioeifo cuktioftimofk afols io tjh ohfr

duturh ay shkh`tivh f`quisitimo/

Issuhs witj scfkk afols io Ioeif

Chrhky ho`murfgiog scfkk afols witjmut feerhssiog tjheisfevfotfghs md ahiog scfkk=

Pcfkk afols frh prmoh tm dfik drhquhotky+ foe wh jfvh tm ehvhkmp tjhpmkiti`fk foe diofo`ifk rhsikiho`h tm f``hpt dfikurhs md scfkk afols/

Ujhrh is f ohhe dmr f dfsthr foe cmrh hddh`tivh drfchwmrl dmrrhsmkutimo foe shttkhchot md ehpmsit iosurfo`h `kfics io tjh hvhot md

dfikurh md f afol/

Wjho scfkk afols ah`mch su``hssduk+ tjhy ofturfkky wfot tm hxpfoefoe grmw/ Pjmuke wh fkkmw f scmmtj trfositimo drmc scfkk tm aig=

Aut id wh em tjft+ frhot wh ehdhftiog tjh vhry rftimofkh dmr su`j

a l i tj t tj ikk a i ak e dk iak e t k k


20/31

Issuh Om/ 5> Ki`hosiog Rmki`y

Ujh QAI issuhs afol ki`ho`hs uoehr sh`timo 11 md tjh AfoliogQhgukftimo F`t+ 6959/ Ujh ki`ho`h hofakhs tjh afol tm em afoliog

foe mtjhr diofo`ifk shrvi`hs f`tivitihs kisthe io tjh Afoliog

Qhgukftimo F`t/

Ioeif dmkkmws f uoivhrsfk afol ki`hosiog rhgich/Ki`hosiog pmki`y dmr emchsti` privfth sh`tmr afols

Rursufot tm tjh rh`mcchoeftimos md Ofrfsicjfc @mccitthh I io6996+ guiehkiohs mo ohw afols whrh rhkhfshe io 6990 witj f

cioicuc `fpitfk rhquirhchot md`6 aikkimo/ 62 ohw privfth sh`tmr

afols whrh ki`hoshe

Rursufot tm Ofrfsicjfc @mccitthh II *Fprik 699:) mo AfoliogPh`tmr Qhdmrcs+ f ohw sht md guiehkiohs whrh issuhe io 1226 witj f

`fpitfk rhquirhchot md`0 aikkimo/ 1 ohw privfth sh`tmr afols whrh

ki`hoshe/

Io Dharufry 1260+ drhsj guiehkiohs dmr ki`hosiog md ohw afols whrhissuhe+ iothr fkif phrcittiog ausiohss-ioeustrifk jmushs tm prmcmth

afols witj f `fpitfk rhquirhchot md`8 aikkimo/

Ki`hosiog Rmki`y dmr Dmrhigo Afols

Ft prhshot+ dmrhigo afols mphrfth io Ioeif fs arfo`jhs md tjh pfrhotafol/ @urrhotky+ phrcissimo dmr mphoiog md arfo`jhs ay dmrhigo

afols io Ioeif is guiehe ay Ioeifs `mccitchot tm WUM tm fkkmw61


21/31

Ehvhkmpchot Diofoìfk Iostitutimos

Ehvhkmpchot Diofoìfk Iostitutimos *EDIs) em omt rhquirh f afoliogki`ho`h/

Rmst#Ioehphoeho`h+ EDIs whrh hstfakisjhe cfioky tm chht tjhehcfoe dmr kmog#thrc diofo`h ay tjh ioeustrifk sh`tmr/

Ujhy jfe tjh ahohdit md kmw#`mst duoes tjrmugj Kmog UhrcMphrftimo *KUM) duoes drmc QAI ft `mo`hssimofk rfths+ duoes drmc

cuktikfthrfk foe aikfthrfk fghoìhs euky gufrfothhe ay tjh

Gmvhrochot/ Ujhy whrh fksm fkkmwhe tm issuh amoes+ wji`j

qufkidihe dmr PKQ stftus/ Dmr ehpkmychot md duoes+ tjhy df`he kittkh

`mcphtitimo fs tjh afoliog systhc `mo`hotrfthe kfrghky mo wmrliog`fpitfk diofo`h foe fkcmst tmtfkky yihkehe tjh thrc diofo`h spf`h tm

EDIs/

Rmst#diofoìfk sh`tmr rhdmrcs io tjh 6992s+ tjh privikhghe f``hss tmkmw#`mst duoes wfs witjerfwo dmrìog EDIs tm rfish rhsmur`hs ft

cfrlht#rhkfthe rfths/ Mo tjh mtjhr jfoe+ tjhy jfe tm df`h `mcphtitimo

io tjh thrc diofo`h spf`h drmc afols mddhriog kmwhr rfths/ Ujh

`jfogh io mphrftiog hovirmochot+ `mcaiohe witj jigj f`ùcukftimo

md omo#phrdmrciog fsshts+ euh tm f `mcaioftimo md df`tmrs put

diofoìfk strhss mo EDIs/ Umefy+ EDIs frh vhry cfrgiofk pkfyhrs io

tjh diofoìfk sh`tmr/

Rursufot tm tjh rh`mcchoeftimos md tjh Ljfo Wmrliog Grmup moJfrcmoiziog tjh Qmkh foe Mphrftimos md EDIs foe afols+ f


22/31

mptimo tm trfosdmrc iotm f afol/ Ujh mphrftimofk guiehkiohs dmr

hofakiog f EDI tm `movhrt tm f uoivhrsfk afol whrh issuhe io 1226/

Is it oh`hssfry omw tm rhvihw mur `mccitchot tm uoivhrsfk afoliog=Pjmuke wh gm io dmr eiddhrhotifthe ki`hosiog=

Eiddhrhotifthe Ki`hosiog

Io M`tmahr 1227+ Qhshrvh Afol prhpfrhe f Eisùssimo Rfphr moEiddhrhotifthe Afol Ki`hosiog wji`j sfie tjft tjh `fsh dmr

eiddhrhotifthe ki`hosiog wikk ah rhvihwhe fdthr f `hrtfio ehgrhh md

su``hss io diofoìfk io`kusimo is f`jihvhe foe tjh Qhshrvh Afol is

sftisdihe witj tjh qufkity foe rmaustohss md tjh risl cfofghchot

systhcs md tjh hotirh afoliog sh`tmr/

Uich tm rhhvfkufth tjis issuh md Eiddhrhotifthe Ki`hosiog=Frguchots io suppmrt md Eiddhrhotifthe Ki`hosiog

Pphìfkizhe hotitihs jfvh hxphrtish io risl fsshsschot foe stru`turiogmd iodrfstru`turh diofo`h/

@mrh `mcphtho`y `muke ah ahtthr jfrohsshe khfeiog tm hojfo`heprmeu`tivity io thrcs md rheu`he iothrcheiftimo `mst+ ahtthr pri`h

eis`mvhry foe icprmvhe fkkm`ftivh hddiìho`y/

Witj eiddhrhotifthe ki`ho`hs+ wh `fo ght frmuoe issuhs md `modki`t mdiothrhst tjft frish wjho f afol phrdmrcs cuktipkh duo`timos/

@ustmcishe fppki`ftimo md suphrvismry rhsmur`hs f``mreiog tm tjh


23/31

Frguchot fgfiost Eiddhrhotifthe Ki`hosiog

Givho tjh hxthot md diofoìfk hx`kusimo io Ioeif+ is it fevisfakh tm`rhfth f rhgich wjhrh smch afols frh drhhe md tjh makigftimo md

diofoìfk io`kusimo=

F uoivhrsfk afol wikk ah fakh tm `rmss suasieish f`rmss sh`tmrs tmmpticizh utikizftimo md rhsmur`hs foe hosurh ahtthr prmditfaikity md

afols/

Wikk sphìfkizhe afols ah prmoh tm `mo`hotrftimo risl ah`fush mdofrrmwhr ausiohss cmehks=

Ujh `riti`fk issuh mo tjh wfy dmrwfre

Eiddhrhotifthe ki`hosiog dmr vfrimus afoliog f`tivitihs *rhtfik+wjmkhsfkh+ trfeiog io shùritihs+ cmrtgfgh khoeiog+ iodrfstru`turh

diofoìog+ ci`rm khoeiog+ ht`/) witj eiddhrhotifthe rhgukftmry

rhquirhchots ehphoeiog upmo tjh risls iovmkvhe=

Id wh f``hpt Eiddhrhotifthe Ki`hosiog io prioìpkh+ f sphìfk `fthgmrymd afols tjft wikk `mch up dmr `mosiehrftimo+ is Iovhstchot Afols/

Kht ch omw eisùss ki`hosiog md purh Iovhstchot Afols/

# # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # #

Issuh Om/ 8> Iovhstchot Afoliog

Rmst sua#prich `risis+ tjh XP iovhstchot afoliog sh`tmr `mkkfpsheeuh tm jigj khvhrfgh foe shvhrh cfturity ciscft`jhs/


24/31

Iovhstchot Afoliog io Ioeif> @urrhot Qhgukftmry Drfchwmrl

Ujh thrc iovhstchot afol is omt khgfkky ehdiohe io Ioeif+ foe omhotitihs frh rhgisthrhe fs su`j witj PHAI/

Iovhstchot Afoliog is `mccmoky ushe tm ehdioh hotitihs tjft frhiotm fssht cfofghchot+ `fpitfk rfisiog+ trfeiog io shùritihs+ pmrtdmkim

cfofghchot+ chr`jfot afoliog+ uoehrwritiog+ armliog foe tjmsh

mddhriog ausiohss foe diofoìfk fevismry shrvi`hs/

Rurh iovhstchot hotitihs wji`j em omt jfvh prhsho`h io tjh khoeiogmr afoliog ausiohss frh rhgukfthe pricfriky ay tjh `fpitfk cfrlht

rhgukftmr *PHAI)/

Afols frh suanh`t tm rhgukftmry rhstri`timos mo tjhir iovhstchots/Wjy foe Jmw md Iovhstchot Afols

Rurh iovhstchot afols jfvh f `mcpfrftivh fevfotfgh io `mrpmrfthstru`turiog foe rfisiog `fpitfk drmc tjh cfrlht/ Fs Ioeifo `mrpmrfth

gm gkmafk+ em wh ohhe purh iovhstchot afols io Ioeif tm shrvh tjhir

smpjisti`fthe diofoìfk ohhes foe fevismry shrvi`hs=

Wikk hx`kusivh iovhstchot afols cikitfth fgfiost ehvhkmpchot gmfks# primrity sh`tmr khoeiog+ diofoìfk io`kusimo=

Is Iovhstchot Afoliog uoehr tjh prmpmshe Omo#Mphrftivh DiofoìfkJmkeiog @mcpfoy *OMDJ@) f pmssiakh mptimo=

Ohhe dmr cmrh hxthosivh ehafth mo tjh prms foe `mos md hx`kusivh


25/31

Issuh Om/ 4> Diofoìfk Ph`tmr Khgiskftivh Qhdmrcs @mccissimo *DPKQ@)

DPKQ@ wfs `mostituthe ay tjh Gmvhrochot witj f vihw tmrhwritiog foe `khfoiog up tjh diofoìfk sh`tmr kfws tm ariog tjhc io

tuoh witj tjh ùrrhot rhquirhchots/ DPKQ@ suacitthe its Qhpmrt tm

tjh Gmvhrochot io Cfr`j 1260/

Ujh @mccissimo prmpmshs sjidtiog drmc rukh afshe tm prioìpkhafshe rhgukftimo/ Ujh kmgi` is tjft tjh prioìpkhs wikk ah hosjriohe io

tjh kfw foe tjh kfw ohhe omt `jfogh tm rhdkh`t `jfoghs mvhr tich foe

`jfoghs io th`jomkmgy/

Fs phr DPKQ@+ Ujh ohw diofoìfk rhgukftmry fr`jith`turh wikk`mcprish>

Xoidihe Diofoìfk Futjmrity *XDF) QAI Diofoìfk Ph`tmr Fpphkkfth Uriauofk Qhsmkutimo @mrpmrftimo Diofoìfk Qherhssfk Fgho`y Diofoìfk Ph`tmr Ehvhkmpchot @muoìk Ruaki` Ehat Cfofghchot Fgho`y

Umefy QAI jfs tjh dmkkmwiog rhgukftmry foe suphrvismryrhspmosiaikitihs>

Qhgukftmr md afols $ omo#afols ih fkk ehpmsittfliog foe `rheit iostitutimos

Qhgukftmr md Rfychot Pysthcs


26/31

Ehpmsit Iosurfo`h foe @rheit Gufrfothh *tjrmugj itssuasieifry)

@ustmchr Grihvfo`h Qherhssfk rhkftiog tm afols DPKQ@ rh`mcchoes tjft QAI sjmuke hvhotufkky *witjio 8#62

yhfrs) dmùs mo cmohtfry pmki`y foe trfeitimofk `hotrfk afoliog

f`tivity moky+ foe sjhe fkk mtjhr rhgukftmry foe suphrvismry

duo`timos/

Io tjh iothric+ DPKQ@ rh`mcchoes tjft# Ujh Qhshrvh Afol wikk ah tjh rhgukftmr dmr afoliog foe

pfychot systhcs/

# Ujh Xoidihe Diofoìfk Futjmrity wikk ah tjh rhgukftmr dmr fkkstofoìfk shrvi`hs mtjhr tjfo afoliog foe pfychot systhcs/

# QAI wikk sjfrh rhspmosiaikity dmr diofoìfk stfaikity witjDPE@ foe mtjhr rhgukftmrs/

Durtjhr+ QAI tm ah drhh md rhspmosiaikitihs rhkftiog tm Ruaki` EhatCfofghchot+ @ustmchr Grihvfo`h Qherhssfk rhkftiog tm afols+ foe

ehpmsit iosurfo`h/

Wjy QAI sjmuke rhgukfth amtj afols foe omo#afols=

Moh md tjh cfnmr `fushs md tjh 122: diofoìfk `risis wfs tjft `rheitiothrcheiftimo f`tivitihs whrh `moeu`the ay omo#afols *tjh sm

`fkkhe sjfemw afols) wji`j whrh pricfriky mutsieh tjh rhgukftmry

purvihw/ Ujis rfishe shrimus `mo`hros md rhgukftmry fraitrfgh+


27/31

Ptrmog iothrkiolfghs ahtwhho afols foe OAD@s/ Xoidiherhgukftimo ay tjh sfch rhgukftmr hsshotifk dmr diofoìfk stfaikity/

Dmr Cmohtfry Rmki`y tm ah hddh`tivh+ `rheit `rhftimo *i/h/ ay afolsfoe `rheit iostitutimos kilh OAD@s) sjmuke ah rhgukfthe ay tjh

`hotrfk afol/

Rmst#`risis+ tjh trhoe jfs ahho tm hotrust cmrh+ omt khss+ rhgukftimotm `hotrfk afols/

# # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # # #

Issuh Om/ 7> Omo#Mphrftivh Diofoìfk Jmkeiog @mcpfoihs *OMDJ@)

Ujhrh frh tjrhh typhs md afoliog cmehks prhvfkhot frmuoe tjhwmrke/

Hurmph jfs fempthe Xoivhrsfk Afoliog cmehk/ Io tjh XP+ tjhprhemciofot cmehk is Afol Jmkeiog @mcpfoy *AJ@) mr Diofoìfk

Jmkeiog @mcpfoy *DJ@)/ Cmst mtjhr nurisei`timos dmkkmw tjhAfol#Puasieifry cmehk/

Ioeif fempthe Afol#Puasieifry cmehk tikk tjh hfrky 92s+ foe tjhocmvhe mo tm tjh Xoivhrsfk Afoliog cmehk/

QAI jfe `mostituthe f Wmrliog Grmup+ uoehr dmrchr EhputyGmvhromr Pjyfcfkf Gmpioftj+ io Nuoh 1262 tm stuey tjh eiddhrhot

jmkeiog `mcpfoy stru`turhs iothroftimofkky foe tm ioei`fth f

rmfecfp dmr femptimo md tjh jmkeiog `mcpfoy stru`turh io Ioeif/


28/31

Ujh Wmrliog Grmup jfe fksm rh`mcchoehe tjft tjhrh sjmuke ah fshpfrfth stftuth dmr rhgukftimo md diofoìfk jmkeiog `mcpfoihs/

Ohw afols io tjh privfth sh`tmr wmuke ah sht up uoehr f Omo#Mphrftivh Diofoìfk Jmkeiog @mcpfoy *OMDJ@)/

Ujh manh`tivh md OMDJ@ is tjft tjh jmkeiog `mcpfoy wikk riogdho`h tjh rhgukfthe diofoìfk shrvi`hs hotitihs md tjh prmcmthr

grmup+ io`kueiog tjh afol+ drmc mtjhr f`tivitihs md tjh grmup i/h/+

`mcchrìfk+ ioeustrifk foe diofoìfk f`tivitihs omt rhgukfthe ay

diofoìfk sh`tmr rhgukftmrs/ Ujh manh`tivh is fksm tjft tjh afol

sjmuke ah riog#dho`he drmc mtjhr rhgukfthe diofoìfk f`tivitihs md

tjh Grmup/

OMDJ@ wikk ah rhgisthrhe fs f omo#afoliog diofoìfk `mcpfoy*OAD@)+ aut rhgukfthe kilh f afol/

Dmr tjh RPAs+ f Jigj Khvhk @mccitthh sht up ay tjh Gmvhrochotjfs rh`mcchoehe dmrcftimo md f omo#mphrftiog diofoìfk jmkeiog

`mcpfoy *Jmke@m) uoehr f sphìfk F`t md Rfrkifchot tm f`t fs fo

iovhstchot `mcpfoy dmr tjh Gmvhrochot< tm jmke f cfnmr pmrtimo

md tjh Gmvhrochot's sjfrhjmkeiogs io fkk RPAs< tm rfish kmog#thrc

ehat drmc emchsti` foe iothroftimofk cfrlhts tm iodush hquity iotm

RPAs/

Ohhe dmr ehafth mo wjhtjhr f jmkeiog `mcpfoy stru`turh is suithetm tjh Ioeifo afoliog foe diofoìfk systhc/


29/31

Issuh Om/ :> Puasieifrisftimo md Dmrhigo Afols

Ft prhshot+ dmrhigo afols mphrfth io Ioeif fs arfo`jhs md tjh pfrhotafols/

Rmst `risis khssmos suppmrt emchsti` io`mrpmrftimo md dmrhigo afolsi/h/ suasieifrisftimo

Cfio fevfotfghs md km`fk io`mrpmrftimo frh> Qiog dho`he `fpitfk witjio tjh jmst `muotry Hfsihr tm ehdioh kfws md wji`j nurisei`timo fppky Ahtthr `mrpmrfth gmvhrofo`h+ km`fk amfre md eirh`tmrs Hddh`tivh `motrmk io f afoliog `risis foe hofakhs jmst

`muotry futjmritihs tm f`t cmrh ioehphoehotky fs fgfiost

arfo`j mphrftimos

Qhgukftmry `mcdmrt Rmthotifk emwo sieh risl `muke ah emcioftimo md tjh emchsti`

diofo`ifk systhc ay Wjmkky Mwohe Puasieifrihs *WMP) md dmrhigo

afols/

Ujhrh whrh `hrtfio tfxftimo foe mtjhr issuhs wji`j ohhehe tm ahrhsmkvhe io `mosuktftimo witj Gmvt/ md Ioeif/ Ujh Io`mch Ufx F`t

jfs sio`h ahho fchoehe tm hxhcpt dmrhigo afol drmc pfychot md

`fpitfk gfios tfx mo suasieifrisftimo/ Ujh Afoliog Kfws

*Fchoechot) Aikk+ 1261 fchoehe tjh Ioeifo Ptfcp F`t+ 6:99

wjhrhay `movhrsimo md arfo`j-hs md f dmrhigo afol iotm WMP fs phr

tjh s`jhch mr guiehkiohs md QAI sjfkk omt ah kifakh tm euty uoehr tjh


30/31

cfioky md f khgfk ofturh+ kilh trfosdhr md rigjts foe kifaikitihs+ diofkity

md trfosdhr+ ht`/ wji`j ohhe tm ah feerhsshe/ Ujhsh issuhs frh uoehr

hxfcioftimo md tjh Qhshrvh Afol/ Fdthrrhsmkutimo md fkk tjhsh issuhs

`mcprhjhosivh guiehkiohs mo suasieifrisftimo md dmrhigo afols io

Ioeif wikk ah issuhe/

@mo`kusimo

I jfvh rfishe smch issuhs rhkhvfot io tjh `mothxt md tjioliogtjrmugj f afoliog stru`turh dmr Ioeif tjft ahst prmcmths mur

fspirftimo dmr dfst foe io`kusivh grmwtj/

I fc `mos`imus I rfishe issuhs witjmut oh`hssfriky giviog tjhQhshrvh Afols vihws/ Ujft is ehkiahrfth/ Ujh Qhshrvh Afol ohhes

tjh ahohdit md kfrghr foe iodmrche ehafth mo tjhsh issuhs/

I trust ymu wikk hogfgh mo tjhsh issuhs wjho tjh Qhshrvh AfolsEis`ussimo Rfphr `mchs mut io f dhw efys/

Cy ahst wisjhs dmr tjh su``hss md tjis @modhrho`h/ Ujfol ymu mo`h fgfio dmr iovitiog ch/


31/31

Foohx

Ioei`ftmrs md Icpf`t md Diofo`ifk Ph`tmr Qhdmrcs

6992#96

*prh#rhdmrc)

1227#2:

*pmst#rhdmrc+ prh`heiog

gkmafk `risis)

@urrhot pmsitimo

*1266#61)

Grmss Emchsti` Pfviog Qfth *( md GER) 11/9 04/: 02/:

Grmss Emchsti` Iovhstchot Qfth *( md GER) 14/2 0:/6 08/2

Afol @rheit - GER *() 12/5 57/5 82/42

Armfe Cmohy - GER *() 54/7 :1/9 :0/16

Pprhfe *rhturo mo duoes#`mst md duoes) *() 1/9 0/41

Oht Iothrhst Io`mch tm Umtfk Fsshts *() 6/98 0/2 1/9

Qhturo mo Fsshts *() 6/60 6/2:

APH Cfrlht @fpitfkisftimo *( md GER) 64 620 72/1

Rricfry Cfrlht Qhsmur`h Cmaikisftimo *`aikkimo) 50/6 404/5 02:7/8

Documents

Indian Financial Institute BASICS