The Risks Involved In Internet Banking Finance Essay - Free Essay Example

Internet banking refers to systems that enable bank customers to access accounts and general information on bank products and services through a personal computer (PC) or other intelligent device. Internet banking products and services can include wholesale products for corporate customers as well as retail and fiduciary products for consumers. Ultimately, the products and services obtained through Internet banking are mirror products and services offered through other bank delivery channels. Types of Internet Banking Informational Communicative Transactional Internet Banking Risks Credit Risk Credit risk is the risk to earnings or capital arising from an obligors failure to meet the terms of any contract with the bank or otherwise to perform as agreed. Credit risk is found in all activities where success depends on counterparty, issuer, or borrower performance. It arises any time bank funds are extended, committed, invested, or otherwise exposed through actual or implied contractual agreements, whether on or off the banks balance sheet. Internet banking provides the opportunity for banks to expand their geographic range. Customers can reach a given institution from literally anywhere in the world. In dealing with customers over the Internet, absent any personal contact, it is challenging for institutions to verify the bonafides of their customers, which is an important element in making sound credit decisions. Verifying collateral and perfecting security agreements also can be challenging with out-of-area borrowers. Unless properly managed, Internet banking could lead t o a concentration in out-of-area credits or credits within a single industry. Moreover, the question of which states or countrys laws control an Internet relationship is still developing. Effective management of a portfolio of loans obtained through the Internet requires that the board and management understand and control the banks lending risk profile and credit culture. They must assure that effective policies, processes, and practices are in place to control the risk associated with such loans. Interest Rate Risk Interest rate risk is the risk to earnings or capital arising from movements in interest rates. From an economic perspective, a bank focuses on the sensitivity of the value of its assets, liabilities and revenues to changes in interest rates. Interest rate risk arises from differences between the timing of rate changes and the timing of cash flows (repricing risk); from changing rate relationships among different yield curves affecting bank activities (basis risk); from changing rate relationships across the spectrum of maturities (yield curve risk); and from interest-related options embedded in bank products (options risk). Evaluation of interest rate risk must consider the impact of complex, illiquid hedging strategies or products, and also the potential impact that changes in interest rates will have on fee income. In those situations where trading is separately managed, this refers to structural positions and not trading portfolios. Internet banking can attract deposits, loans, and other relationships from a larger pool of possible customers than other forms of marketing. Greater access to customers who primarily seek the best rate or term reinforces the need for managers to maintain appropriate asset/liability management systems, including the ability to react quickly to changing market conditions. Liquidity Risk Liquidity risk is the risk to earnings or capital arising from a banks inability to meet its obligations when they come due, without incurring unacceptable losses. Liquidity risk includes the inability to manage unplanned changes in funding sources. Liquidity risk also arises from the failure to recognize or address changes in market conditions affecting the ability of the bank to liquidate assets quickly and with minimal loss in value. Internet banking can increase deposit volatility from customers who maintain accounts solely on the basis of rate or terms. Asset/liability and loan portfolio management systems should be appropriate for products offered through Internet banking. Increased monitoring of liquidity and changes in deposits and loans may be warranted depending on the volume and nature of Internet account activities. Price Risk Price risk is the risk to earnings or capital arising from changes in the value of traded portfolios of financial instruments. This risk arises from market making, dealing, and position taking in interest rate, foreign exchange, equity, and commodities markets. Banks may be exposed to price risk if they create or expand deposit brokering, loan sales, or securitization programs as a result of Internet banking activities. Appropriate management systems should be maintained to monitor, measure, and manage price risk if assets are actively traded. Foreign Exchange Risk Foreign exchange risk is present when a loan or portfolio of loans is denominated in a foreign currency or is funded by borrowings in another currency. In some cases, banks will enter into multi-currency credit commitments that permit borrowers to select the currency they prefer to use in each rollover period. Foreign exchange risk can be intensified by political, social, or economic developments. The consequences can be unfavorable if one of the currencies involved becomes subject to stringent exchange controls or is subject to wide exchange-rate fluctuations. Foreign exchange risk is discussed in more detail in the Foreign Exchange, booklet of the Comptrollers Handbook. Banks may be exposed to foreign exchange risk if they accept deposits from non-U.S. residents or create accounts denominated in currencies other than U.S. dollars. Appropriate systems should be developed if banks engage in these activities. Transaction Risk Transaction risk is the current and prospective risk to earnings and capital arising from fraud, error, and the inability to deliver products or services, maintain a competitive position, and manage information. Transaction risk is evident in each product and service offered and encompasses product development and delivery, transaction processing, systems development, computing systems, complexity of products and services, and the internal control environment. A high level of transaction risk may exist with Internet banking products, particularly if those lines of business are not adequately planned, implemented, and monitored. Banks that offer financial products and services through the Internet must be able to meet their customers expectations. Banks must also ensure they have the right product mix and capacity to deliver accurate, timely, and reliable services to develop a high level of confidence in their brand name. Customers who do business over the Internet are likely to hav e little tolerance for errors or omissions from financial institutions that do not have sophisticated internal controls to manage their Internet banking business. Likewise, customers will expect continuous availability of the product and Web pages that are easy to navigate. Software to support various Internet banking functions is provided to the customer from a variety of sources. Banks may support customers using customer-acquired or bank-supplied browsers or personal financial manager (PFM) software. Good communications between banks and their customers will help manage expectations on the compatibility of various PFM software products. Attacks or intrusion attempts on banks computer and network systems are a major concern. Studies show that systems are more vulnerable to internal attacks than external, because internal system users have knowledge of the system and access. Banks should have sound preventive and detective controls to protect their Internet banking systems from exploitation both internally and externally. See OCC Bulletin 99-9, Infrastructure Threats from Cyber- Terrorists for additional information. Contingency and business resumption planning is necessary for banks to be sure that they can deliver products and services in the event of adverse circumstances. Internet banking products connected to a robust network may actually make this easier because back up capabilities can be spread over a wide geographic area. For example, if the main server is inoperable, the network could automatically reroute traffic to a back up server in a different geographical location. Security issues should be considered when the institution develops its contingency and business resumption plans. In such situations, security and internal controls at the back-up location should be as sophisticated as those at the primary processing site. High levels of system availability will be a key expectation of customers and will likely differentiate success levels amo ng financial institutions on the Internet. National banks that offer bill presentment and payment will need a process to settle transactions between the bank, its customers, and external parties. In addition to transaction risk, settlement failures could adversely affect reputation, liquidity, and credit risk. Risk Management Financial institutions should have a technology risk management process to enable them to identify, measure, monitor, and control their technology risk exposure. Examiners should refer to OCC Bulletin 98-3, Technology Risk Management for additional guidance on this topic. Risk management of new technologies has three essential elements: The planning process for the use of the technology. Implementation of the technology. The means to measure and monitor risk. The OCCs objective is to determine whether a bank is operating its Internet banking business in a safe and sound manner. The OCC expects banks to use a rigorous analytic process to identify, measure, monitor, and control risk. Examiners will determine whether the level of risk is consistent with the banks overall risk tolerance and is within the banks ability to manage and control. The risk planning process is the responsibility of the board and senior management. They need to possess the knowledge and skills to manage the banks use of Internet banking technology and technology-related risks. The board should review, approve, and monitor Internet banking technology-related projects that may have a significant impact on the banks risk profile. They should determine whether the technology and products are in line with the banks strategic goals and meet a need in their market. Senior management should have the skills to evaluate the technology employed and risks assumed. Periodic independent evaluations of the Internet banking technology and products by auditors or consultants can help the board and senior management fulfill their responsibilities. Implementing the technology is the responsibility of management. Management should have the skills to effectively evaluate Internet banking technologies and products, select the right mix for the bank, and see that they are installed appropriately. If the bank does not have the expertise to fulfill this responsibility internally, it should consi der contracting with a vendor who specializes in this type of business or engaging in an alliance with another provider with complementary technologies or expertise. Measuring and monitoring risk is the responsibility of management. Management should have the skills to effectively identify, measure, monitor, and control risks associated with Internet banking. The board should receive regular reports on the technologies employed, the risks assumed, and how those risks are managed. Monitoring system performance is a key success factor. As part of the design process, a national bank should include effective quality assurance and audit processes in its Internet banking system. The bank should periodically review the systems to determine whether they are meeting the performance standards. Internal Controls Internal controls over Internet banking systems should be commensurate with an institutions level of risk. As in any other banking area, management has the ultimate responsibility for developing and implementing a sound system of internal controls over the banks Internet banking technology and products. Regular audits of the control systems will help ensure that the controls are appropriate and functioning properly. For example, the control objectives for an individual banks Internet banking technology and products might focus on: Consistency of technology planning and strategic goals, including efficiency and economy of operations and compliance with corporate policies and legal requirements. Data availability, including business recovery planning. Data integrity, including providing for the safeguarding of assets, proper authorization of transactions, and reliability of the process and output. Data confidentiality and privacy safeguards. Reliability of MIS. Once control objectives are established, management has the responsibility to install the necessary internal controls to see that the objectives are met. Management also has the responsibility to evaluate the appropriateness of the controls on a cost-benefit basis. That analysis may take into account the effectiveness of each control in a process, the dollar volume flowing through the process, and the cost of the controls. Examiners will need to understand the banks operational environment to evaluate the proper mix of internal controls and their adequacy. According to the Information Systems Audit and Control Association (ISACA) the basic internal control components include: Internal accounting controls used to safeguard the assets and reliability of financial records. These would include transaction records and trial balances Operational controls used to ensure that business objectives are being met. These would include operating plans and budgets to compare actual against pla nned performance. Administrative controls used to ensure operational efficiency and adherence to policies and procedures. These would include periodic internal and external audits. Conclusion This paper has thus covered the various aspects of internet banking risks. Also, the suggestions given in the form of control measures may be followed to achieve the desired results and overcome the demerits.

If a Molecule Is Reduced Does It Gain or Lose Energy

Question: If a Molecule Is Reduced Does It Gain or Lose Energy? Answer: Reduction occurs when a molecule gains an electron or decreases its oxidation state. When a molecule is reduced, it gains energy. Does an Oxidized Molecule Gain or Lose Energy?

Metaphysical Poems - 792 Words

Metaphysical Poets John Donne and Andrew Marvell were considered metaphysical poets based on their use of conceit and wit in depicting similar situations through different metaphors. They would use original analogies to create fitting and insightful comparisons, usually to persuade. John Donne and Andrew Marvell have been called metaphysical poets. This is a,† name given to a group of English lyric poets of the 17th century† (Metaphysical poets)† The term metaphysical poets came to be used almost one hundred years after the death of the two poets. John Donne died John Donne in1631 and Andrew Marvell died in 1678. The term later became known as ‘metaphysical poetry,’ (which was referred to by contemporaries, as ‘strong lived’. The†¦show more content†¦In the second stanza, the speaker argues for the life of the flea, as his lady has moved to kill it. Almost desperate, the speaker describes the flea as holy. â€Å"This flea is you and I, and this/Our marriage bed, and marriage temple is† (lines 12-13). He fails to save the flea, as reflected, â€Å"[p]urpled thy nail in blood of innocence?† She killed the flea and the speaker’s last chance of having relations with her. The speaker at t his point realizes that his chance to have sex with this lady is gone. The speaker realized her killing the flea was his final rejection. In â€Å"To His Coy Mistress,† the speaker is attempting to use a Carpe Diem method to persuade the young lady to make love to him. The speaker attempts to persuade the lady with seize the day. The speaker continues to tell the woman about how short time is, and how they must hurry because no one ever knows how much time is left. This is evident in by how the poem begins, â€Å"Had we but world enough, and time,†(page 527) As the poem starts to speed up you realize the speaker is becoming almost desperate. His promises and analogies become so farfetched.†Ã¢â‚¬ ¦ I would Love you ten years before the flood† (line 8). Marvell uses symbolism, comparisons and metaphors to show the speaker as this passionate lover and the lady would be foolish not to give in to his request. Clearly the two speakers are Metaphysical poets. They have gone in two different directions to try toShow MoreRelatedThe Metaphysical Conceit in Donnes Poems1198 Words   |  5 PagesThe Metaphysical Conceit Donne’s Poems â€Å"The Flea† and â€Å"A Valediction† are poems by John Donne that were written in the 17th Century. These poems incorporate the fundamental of something called a metaphysical conceit. Interesting though, both poems use the metaphysical conceit to tell a story about two very opposite situation between two â€Å"partners†. â€Å"The Flea’s† metaphysical conceit is stretched along a lustful, passionate, relationship between two individuals. â€Å"A Valediction’s† metaphysical conceitRead MoreEssay on Herberts Metaphysical Poems3454 Words   |  14 PagesHerberts Metaphysical Poems In the first portion of The Temple, specifically Perirrhanterium, Herbert prescribes the didactics necessary for the instruction of the catechumen in a simple, straightforward manner. As the reader moves into the main section of The Church, the author’s poetic wit becomes more complex in both its style and depth of topic. Although the starkness of the messages in Herbert’s metaphysical poems is not as palpable as those of the Church Porch, their ability to teachRead MoreComparing Ideas and Images in Four Metaphysical Love Poems Essay1258 Words   |  6 Pagesand Images in Four Metaphysical Love Poems â€Å"To His Coy Mistress†, â€Å"The Fair Singer†, â€Å"Picture of Little T.C. in a Prospect of Flowers† by Andrew Marvell and â€Å"Sun Rising† by John Donne are all seventeenth century metaphysical love poems. They all contain similar styles and images in which they portray the messages they intend to get across, which give an insight into certain opinions and feelings of men towards women in that era. All these poems talk about the beautyRead MoreMetaphysical Poetry1246 Words   |  5 PagesMetaphysical Poetry: Much More Than Wit The two main views of metaphysical poetry, as composed by poets A.E. Housman and T.S. Eliot, are vastly different. 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Today, we are very lucky to have the luxury of many metaphysical poems; however, today we will be exploring just two. These being A Valediction Forbidding Mourning and To His Coy Mistress. Both poems possess different themes and features that will be compared and contrastedRead MoreMetaphysical Conceit in John Donnes The Sun Rising Essay685 Words   |  3 PagesMetaphysical Conceit in John Donnes The Sun Rising Have you ever been in love? Have you ever felt a love so strong that nothing else seemed to matter? I hope that you have, but if you havent, John Donnes poem, The Sun Rising, gives a revealing glimpse into the emotional roller coaster that is true love. In the poem, Donne uses what is called a metaphysical conceit to emphasize the strength of the devotion between him and his lover. A metaphysical conceit is a metaphor extendedRead MoreComparing the Attitudes Towards Love and Relationships in The Beggar Woman by William King and To His Coy Mistress by Andrew Marvell1155 Words   |  5 PagesWilliam King and To His Coy Mistress by Andrew Marvell In this essay I will be comparing two poems, The Beggar Woman and To His Coy Mistress. I will be looking at how the themes of love and relationships are dealt with. I will also be looking at the historical context of the poems. Firstly in The Beggar Woman, written around 1663 to 1712, by William King. The story within the poem is about a gentleman who, whilst he is out hunting, wants to do another kind of ‘sport’, iRead MoreTHE MAIN FEATURES OF THE METAPHYSICAL POETRY ILLUSTRATED BY JOHN DONNE1637 Words   |  7 PagesFEATURES OF THE METAPHYSICAL POETRY ILLUSTRATED BY JOHN DONNE The term metaphysical poetry is used to describe a certain type of 17th century poetry. Metaphysical poetry is concerned with the whole experience of man. It means that the poetry is about showing knowledge and thoughts from different areas of experience, especially about love, romantic and sensual; about mans relationship with God and about pleasure, learning and art. Metaphysical poems are lyric

Taking a Look at the Death Penalty - 1195 Words

Death Penalty Many criminals who commit murder are sentenced to death for the crimes they have committed. The death penalty is a highly controversial practice and the question that must be raised is: Should society continue to use the death penalty as a punishment for heinous crimes? Currently, this turbulent topic continues to be argued. According to the Death Penalty Information Center, there are already eighteen states that have abolished this archaic form of justice. Our society is moving towards a time and place where the death penalty is no longer an acceptable form of punishment. The use of the death sentence should be abolished from the justice system. The death sentence is an ineffective form of punishment that is morally wrong, potentially causes unnecessary deaths of innocent people, is costly, and does not accomplish the task that it has been instated to fulfill which is the prevention of crime. From a moral perspective, the clear answer is to abolish the death penalty. J ust this week in Oklahoma there was a horrifying accident while the lethal injection method was being preformed on an inmate. Clayton Locket, the inmate, was given the injection that should have paralyzed and sedated him, but when locket’s vain erupted it went terribly wrong. â€Å"Witnesses described the man convulsing and writhing on the gurney, as well as struggling to speak, before officials blocked the witnesses view.† (Ford, McLaughlin,Levitt) The final cause of death was a heart attack.Show MoreRelatedTaking a Look at the Death Penalty1013 Words   |  4 Pages Death Penalty should be allowed under circumstances also known as capital punishment, where congress or any state legislature recommend the death penalty for murder and other capital crimes. Majority of the states are favor in death penalty, roughly around 32 states are favor and 18 states are against death penalty. In most cases, many argue that death penalty has violated the 8th amendment, where it bans cruel and unusual punishment. Therefore, they would go against death penalty. However, withoutRead MoreTaking a Look at the Death Penalty694 Words   |  3 Pagesgenerations to come. This is where the death penalty comes into place. What type of feelings would you encounter knowing your children were in danger on a daily basis? We are capable of putting certain people away for our safety. The death penalty may be expensive, but it should stand nationwide on the grounds that it lowers crime rates and it is justified. The death penalty is too expensive to enact. Every case having to do with the penalty of death costs an extra chunk load of money, trialsRead MoreTaking a Look at the Death Penalty1168 Words   |  5 PagesDeath Penalty To have a loved one taken away in such a cruel manner to have a memory that haunts you every living moment. The death penalty would not merely add up for what has happened to you or family. The death penalty should be illegal for many reasons such it is immoral, it doesn’t ensure closure for the victim or the victim’s family, and although some people think that the death penalty will deter crime it really is ineffective overall. Many people think it is right to kill someone forRead MoreTaking a Look at the Death Penalty659 Words   |  3 PagesThe death penalty occurs when someone kills another human being for money, ether intention, knowing or even recklessly. â€Å"The death penalty violates the right to life as proclaimed in the Universal Declaration of Human Rights, and the right to be free from cruel, inhuman and degrading punishment.† (The Ultimate Denial of Human Rights) in this world, no one has the right to take another human being’s life, every human being is entitled to life. 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There’s really no in between with what people believe, they are either fully for the death penalty, or completely against it. However, both sides have completely ethical reasons as to why they believeRead MoreTaking a Look at the Death Penalty614 Words   |  2 Pages Capital punishment or the death penalty is a legal process where a person is put to death as a punishment for a crime that person has committed. Forms of Capital punishment has been around for hundreds of years. Execution of criminals have been used by almost every society that has ever existed. People were executed for all types of crimes from being accused of witch craft to lying. In some cases a vast amount of people were put to death with capital punishment. In the 20th century tens of millionsRead MoreThe Death Penalty Is The Punishment Of Execution1247 Words   |  5 PagesWhat is the death penalty? The death penalty is the punishment of execution, administered to someone legal ly convicted of a capital crime. In the reading selection â€Å"The DEATH PENALTY in AMERICA† Bedau says that â€Å"The history of the death penalty in America can be useful if roughly divided into six epochs of very uneven duration and importance (3)†.The author is saying that the history of the death penalty can be usefully if it is separate into different time period. The author says â€Å"first, from theRead MoreThe Ethics of Capital Punishment Essay1608 Words   |  7 PagesCapital punishment is known to some people one of the cruelest punishment to humanity. Some people believe giving a person the death penalty does not solve anything. While others believe it is payback to the criminal for the crime they have committed. There have been 13,000 people executed since the colonial times, among 1900 and 1985 there were 139 innocent people sentence to death only 23 were executed. In 1967 lack of support and legal challenges cut the execution rate to zero bringing the practiceRead MoreCessation of Life: Who are we to choose?- A look into the Death Penalty686 Words   |  3 Pagescrime, sometimes the only justice seems to be an eye for an eye. And most of the time those victims look to our court systems to provide that justice. But is death the answer? I believe that with human fallibility and the fallibility of our court system as variables, that a sentence that cannot be overturned should not be passed down in any case, especially when that sentence is as irreversible as death. In an editorial from USA Today found on deathpenaltyinfo.org, Justice Sandra Day O’Connor is

Selecting a Locale for Global Outsourcing - 1087 Words

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Also important to the discussion, the concept of off-shoring will find a company expanding into a new international location by establishing a satellite base of operations within. Each strategy carries its own unique set of challenges and advantages. Part of our task as a growing company verging on its first venture of internationalization is to determine what balance of these strategies might best serve our interests. Factors in a Global Context: There are many global factors to consider that have been emergent with the spread of globalization. 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Narayan From Wikipedia free essay sample

Narayan (10 October 1906 – 13 May 2001), shortened from Rasipuram Krishnaswami Iyer Narayanaswami, was an Indian writer, best known for his works set in the fictional South Indian town of Malgudi. He is one of three leading figures of early Indian literature in English (alongside Mulk Raj Anand and Raja Rao), and is credited with bringing the genre to the rest of the world Narayan broke through with the help of his mentor and friend, Graham Greene, who was instrumental in getting publishers for Narayan’s first four books, including the semi-autobiographical trilogy of Swami and Friends, The Bachelor of Arts and The English Teacher. Narayan’s works also include The Financial Expert, hailed as one of the most original works of 1951, and Sahitya Akademi Award winner The Guide, which was adapted for film and for Broadway. The setting for most of Narayans stories is the fictional town of Malgudi, first introduced in Swami and Friends. His narratives highlight social context and provide a feel for his characters through everyday life. He has been compared to William Faulkner, who also created a fictional town that stood for reality, brought out the humour and energy of ordinary life, and displayed compassionate humanism in his writing. Narayans short story writing style has been compared to that of Guy de Maupassant, as they both have an ability to compress the narrative without losing out on elements of the story. Narayan has also come in for criticism for being too simple in his prose and diction. In a writing career that spanned over sixty years, Narayan received many awards and honours. These include the AC Benson Medal from the Royal Society of Literature and the Padma Vibhushan, Indias second-highest civilian award. He was also nominated to the Rajya Sabha, the upper house of Indias parliament. Contents * 1 Life and career * 1. 1 Early years * 1. Turning point * 1. 3 The busy years * 1. 4 The later years * 2 Literary review * 2. 1 Writing style * 2. 2 Malgudi * 2. 3 Critical reception * 3 Awards and honours * 4 Legacy * 5 List of works * 5. 1 Adaptations * 6 Notes * 7 References * 8 Further reading| Life and career Early years R. K. Narayan was born in Madras (now Chennai), Madras Presidency, British India. [ 1] His father was a school headmaster, and Narayan did some of his studies at his fathers school. As his fathers job required frequent moves, Narayan spent part of his childhood under the care of his maternal grandmother, Parvati. 2] During this time his best friends and playmates were a peacock and a mischievous monkey. [3][4][5] His grandmother gave him the nickname of Kunjappa, a name that stuck to him in family circles. [6] She taught him arithmetic, mythology, classical Indian music and Sanskrit. [7] According to his youngest brother R. K. Laxman, the family mostly conversed in English, and grammatical errors on the part of Narayan and his siblings were frowned upon. [8] While living with his grandmother, Narayan studied at a succession of schools in Madras, including the Lutheran Mission School in Purasawalkam,[9] C. R. C. High School, and the Christian College High School. [10] Narayan was an avid reader, and his early literary diet included Dickens, Wodehouse, Arthur Conan Doyle and Thomas Hardy. [11] When he was twelve years old, Narayan participated in a pro-independence march, for which he was reprimanded by his uncle; the family was apolitical and considered all governments wicked. [12] Narayan moved to Mysore to live with his family when his father was transferred to the Maharajahs Collegiate High School. The well-stocked library at the school, as well as his fathers own, fed his reading habit, and he started writing as well. After completing high school, Narayan failed the university entrance examination and spent a year at home reading and writing; he subsequently passed the examination in 1926 and joined Maharaja College of Mysore. It took Narayan four years to obtain his Bachelors degree, a year longer than usual. After being persuaded by a friend that taking a Masters degree (M. A. ) would kill his interest in literature, he briefly held a job as a school teacher; however, he quit in protest when the headmaster of the school asked him to substitute for the physical training master. 9] The experience made Narayan realise that the only career for him was in writing, and he decided to stay at home and write novels. [13][14] His first published work was a book review of Development of Maritime Laws of 17th-Century England. [15] Subsequently, he started writing the occasional local interest story for English newspapers and magazines. Although the writing did not pay much (his income for the first year was nine rupees and twelve annas), he had a regular life and few needs, and his family and friends respected and supported his unorthodox choice of career. 16] In 1930, Narayan wrote his first novel, Swami and Friends,[15] an effort ridiculed by his uncle[17] and rejected by a string of publishers. [8] With this book, Narayan created Malgudi, a town that creatively reproduced the social sphere of the country; while it ignored the limits imposed by colonial rule, it also grew with the various socio-political changes of British and post-independence India. [18] Turning point While vacationing at his sisters house in Coimbatore, in 1933, Narayan met and fell in love with Rajam, a 15-year-old girl who lived nearby. Despite many astrological and financial obstacles, Narayan managed to gain permission from the girls father and married her. [19] Following his marriage, Narayan became a reporter for a Madras based paper called The Justice, dedicated to the rights of non-Brahmins. The publishers were thrilled to have a Brahmin Iyer in Narayan espousing their cause. The job brought him in contact with a wide variety of people and issues. [20] Earlier, Narayan had sent the manuscript of Swami and Friends to a friend at Oxford, and about this time, the friend showed the manuscript to Graham Greene. Greene recommended the book to his publisher, and it was finally published in 1935. [3] Greene also counseled Narayan on shortening his name to become more familiar to the English-speaking audience. [21] The book was semi-autobiographical and built upon many incidents from his own childhood. [22] Reviews were favourable but sales were few. Narayans next novel The Bachelor of Arts (1937), was inspired in part by his experiences at college,[23] and dealt with the theme of a rebellious adolescent transitioning to a rather well-adjusted adult;[24] it was published by a different publisher, again at the recommendation of Greene. His third novel, The Dark Room (1938) was about domestic disharmony,[25] showcasing the man as the oppressor and the woman as the victim within a marriage, and was published by yet another publisher; this book also received good reviews. In 1937, Narayans father died, and Narayan was forced to accept a commission from the government of Mysore as he was not making any money. [26] In his first three books, Narayan highlights the problems with certain socially accepted practices. The first book has Narayan focusing on the plight of students, punishments of caning in the classroom, and the associated shame. The concept of horoscope-matching in Hindu marriages and the emotional toll it levies on the bride and groom is covered in the second book. In the third book, Narayan addresses the concept of a wife putting up with her husbands antics and attitudes. [27] Rajam died of typhoid in 1939. [28] Her death affected Narayan deeply and he remained depressed for a long time; he was also concerned for their daughter Hema, who was only three years old. The bereavement brought about a significant change in his life and was the inspiration behind his next novel, The English Teacher. 15] This book, like his first two books, is autobiographical, but more so, and completes an unintentional thematic trilogy following Swami and Friends and The Bachelor of Arts. [29][30] In subsequent interviews, Narayan acknowledges that The English Teacher was almost entirely an autobiography, albeit with different names for the characters and the change of setting in Malgudi; he also explains that the emotions detail ed in the book reflected his own at the time of Rajams death. [31] Bolstered by some of his successes, in 1940 Narayan tried his hand at a journal, Indian Thought. 32] With the help of his uncle, a car salesman, Narayan managed to get more than a thousand subscribers in Madras city alone. However, the venture did not last long due to Narayans inability to manage it, and it ceased publication within a year. [33] His first collection of short stories, Malgudi Days, was published in November 1942, followed by The English Teacher in 1945. In between, being cut off from England due to the war, Narayan started his own publishing company, naming it (again) Indian Thought Publications; the publishing company was a success and is still active, now managed by his granddaughter. 13] Soon, with a devoted readership stretching from New York to Moscow, Narayans books started selling well and in 1948 he started building his own house on the outskirts of Mysore; the house was completed in 1953. [34 ] The busy years After The English Teacher, Narayans writings took a more imaginative and creative external style compared to the semi-autobiographical tone of the earlier novels. His next effort, Mr. Sampath, was the first book exhibiting this modified approach. However, it still draws from some of his own experiences, particularly the aspect of starting his own journal; he also makes a marked movement away from his earlier novels by intermixing biographical events. [35] Soon after, he published The Financial Expert, considered to be his masterpiece and hailed as one of the most original works of fiction in 1951. [36][37] The inspiration for the novel was a true story about a financial genius, Margayya, related to him by his brother. 38] The next novel, Waiting for the Mahatma, loosely based on a fictional visit to Malgudi by Mahatma Gandhi, deals with the protagonists romantic feelings for a woman, when he attends the discourses of the visiting Mahatma. The woman, named Bharti, is a loose parody of Bharati, the personification of India and the focus of Gandhis discourses. While the novel includes significant references to the Indian independence movement, the focus is on the life of the ordinary individual, narrated with Narayans usual dose of irony. [39] Lyle Blair of Michigan State University Press (Narayans U. S. publisher), Narayan and Anthony West of The New Yorker In 1953, his works were published in the United States for the first time, by Michigan State University Press, who later (in 1958), relinquished the rights to Viking Press. [40] While Narayans writings often bring out the anomalies in social structures and views, he was himself a traditionalist; in February 1956, Narayan arranged his daughters wedding following all orthodox Hindu rituals. [41] After the wedding, Narayan began travelling occasionally, continuing to write at least 1500 words a day even while on the road. 34] The Guide was written while he was visiting the United States in 1956 on the Rockefeller Fellowship. While in the U. S. , Narayan maintained a daily journal that was to later serve as the foundation for his book My Dateless Diary. [42] Around this time, on a visit to England, Narayan met his friend and mentor Graham Greene for the first time. [28] On his return to India, The Guide was published; the book is the most representative of Narayans writing skills and elements, ambivalent in expression, coupled with a riddle-like conclusion. [43] The book won him the Sahitya Akademi Award in 1958. 44] Occasionally, Narayan was known to give form to his thoughts by way of essays, some published in newspapers and journals, others not. Next Sunday (1960), was a collection of such conversational essays, and his first work to be published as a book. [45] Soon after that, My Dateless Diary, describing experiences from his 1956 visit to the United States, was published. Also included in this collection was an essay about the writing of The Guide. [42][46] Narayans next novel, The Man-Eater of Malgudi, was published in 1961. The book was reviewed as having a narrative that is a classical art form of comedy, with delicate control. 40] After the launch of this book, the restless Narayan once again took to travelling, and visited the U. S. [13] and Australia. He spent three weeks in Adelaide, Sydney and Melbourne giving lectures on Indian literature. The trip was funded by a fellowship from the Australian Writers Group. [47] By this time Narayan had also achieved significant success, both literary and financial. He had a large house in Mysore, and wrote in a study with no fewer than eight windows; he drove a new Mercedes-Benz, a luxury in India at that time, to visit his daughter who had moved to Coimbatore after her marriage. With his success, both within India and abroad, Narayan started writing columns for magazines and newspapers including The Hindu and The Atlantic. [48] In 1964, Narayan published his first mythological work, Gods, Demons and Others, a collection of rewritten and translated short stories from Hindu epics. Like many of his other works, this book was illustrated by his younger brother R. K. Laxman. The stories included were a selective list, chosen on the basis of powerful protagonists, so that the impact would be lasting, irrespective of the readers contextual knowledge. [49] Once again, after the book launch, Narayan took to travelling broad. In an earlier essay, he had written about the Americans wanting to understand spirituality from him, and during this visit, Swedish-American actress Greta Garbo accosted him on the topic, despite his denial of any knowledge. [3] Narayans next published work was the 1967 novel, The Vendor of Sweets. It was inspired in part by his American visits a nd consists of extreme characterizations of both the Indian and American stereotypes, drawing on the many cultural differences. However, while it displays his characteristic comedy and narrative, the book was reviewed as lacking in depth. 50] This year, Narayan travelled to England, where he received the first of his honorary doctorates from the University of Leeds. [51] The next few years were a quiet period for him. He published his next book, a collection of short stories, A Horse and Two Goats, in 1970. [52] Meanwhile, Narayan remembered a promise made to his dying uncle in 1938, and started translating the Kamba Ramayanam to English. The Ramayana was published in 1973, after five years of work. [53] Almost immediately after publishing The Ramayana, Narayan started working on a condensed translation of the Sanskrit epic, the Mahabharata. While he was researching and writing the epic, he also published another book, The Painter of Signs (1977). The Painter of Signs is a bit longer than a novella and makes a marked change from Narayans other works, as he deals with hitherto unaddressed subjects such as sex, although the development of the protagonists character is very similar to his earlier creations. The Mahabharata was published in 1978. [54] The later years Narayan was commissioned by the government of Karnataka to write a book to promote tourism in the state. The work was published as part of a larger government publication in the late 1970s. 55] He thought it deserved better, and republished it as The Emerald Route (Indian Thought Publications, 1980). [56] The book contains his personal perspective on the local history and heritage, but being bereft of his characters and creations, it misses his enjoyable narrative. [46] The same year, he was elected as an honorary member of the American Academy of Arts and Lette rs and won the AC Benson Medal from the Royal Society of Literature. [57] Around the same time, Narayans works were translated to Chinese for the first time. 58] In 1983, Narayan published his next novel, A Tiger for Malgudi, about a tiger and its relationship with humans. [59] His next novel, Talkative Man, published in 1986, was the tale of an aspiring journalist from Malgudi. [60] During this time, he also published two collections of short stories: Malgudi Days (1982), a revised edition including the original book and some other stories, and Under the Banyan Tree and Other Stories, a new collection. [61] In 1987, he completed A Writers Nightmare, another collection of essays about topics as diverse as the caste system, Nobel prize winners, love, and monkeys. The collection included essays he had written for newspapers and magazines since 1958. [62][63] Living alone in Mysore, Narayan developed an interest in agriculture. He bought an acre of agricultural land and tried his hand at farming. [64] He was also prone to walking to the market every afternoon, not so much for buying things, but to interact with the people. In a typical afternoon stroll, he would stop every few steps to greet and converse with shopkeepers and others, most likely gathering material for his next book. 65] In 1980, Narayan was nominated to the Rajya Sabha, the upper house of the Indian Parliament, for his contributions to literature. [66] During his entire six-year term, he was focused on one issue—the plight of school children, especially the heavy load of school books and the negative effect of the system on a childs creativity, which was something that he first highlighted in his debut novel, Swami and Friends. His inaugural speech was focused on this par ticular problem, and resulted in the formation of a committee chaired by Prof. Yash Pal, to recommend changes to the school educational system. [67] In 1990, he published his next novel, The World of Nagaraj, also set in Malgudi. Narayans age shows in this work as he appears to skip narrative details that he would have included if this were written earlier in his career. [68] Soon after he finished the novel, Narayan fell ill and moved to Madras to be close to his daughters family. [64] A few years after his move, in 1994, his daughter died of cancer and his granddaughter Bhuvaneswari (Minnie) started taking care of him in addition to managing Indian Thought Publications. 3][13] Narayan then published his final book, Grandmothers Tale. The book is an autobiographical novella, about his great-grandmother who travelled far and wide to find her husband, who ran away shortly after their marriage. The story was narrated to him by his grandmother, when he was a child. [69] During his final years, Narayan, ever fond of conversation, would spend almost every evening wi th N. Ram, the publisher of The Hindu, drinking coffee and talking about various topics until well past midnight. [70] Despite his fondness of meeting and talking to people, he stopped giving interviews. The apathy towards interviews was the result of an interview with Time, after which Narayan had to spend a few days in the hospital, as he was dragged around the city to take photographs that were never used in the article. [32] In May 2001, Narayan was hospitalised. A few hours before he was to be put on a ventilator, he was planning on writing his next novel, a story about a grandfather. As he was always very selective about his choice of notebooks, he asked N. Ram to get him one. However, Narayan did not get better and never started the novel. He died on 13 May 2001, in Chennai at the age of 94. [10][71] Literary review Writing style Narayans writing style was simple and unpretentious with a natural element of humour about it. [72] It focused on ordinary people, reminding the reader of next-door neighbours, cousins and the like, thereby providing a greater ability to relate to the topic. [73] Unlike his national contemporaries, he was able to write about the intricacies of Indian society without having to modify his characteristic simplicity to conform to trends and fashions in fiction writing. [74] He also employed the use of nuanced dialogic prose with gentle Tamil overtones based on the nature of his characters. 75] Critics have considered Narayan to be the Indian Chekhov, due to the similarities in their writings, the simplicity and the gentle beauty and humour in tragic situations. [76] Greene considered Narayan to be more similar to Chekhov than any Indian writer. [1] Anthony West of The New Yorker considered Narayans writings to be of the realism variety of Nikolai Gogol. [77] According to Pu litzer Prize winner Jhumpa Lahiri, Narayans short stories have the same captivating feeling as his novels, with most of them less than ten pages long, and taking about as many minutes to read. She adds that between the title sentence and the end, Narayan provides the reader something novelists struggle to achieve in hundreds more pages: a complete insight to the lives of his characters. These characteristics and abilities led Lahiri to classify him as belonging to the pantheon of short-story geniuses that include O. Henry, Frank OConnor and Flannery OConnor. Lahiri also compares him to Guy de Maupassant for their ability to compress the narrative without losing the story, and the common themes of middle-class life written with an unyielding and unpitying vision. 11] Critics have noted that Narayans writings tend to be more descriptive and less analytical; the objective style, rooted in a detached spirit, providing for a more authentic and realistic narration. [78] His attitude, coupled with his perception of life, provided a unique ability to fuse characters and actions,[79] and an ability to use ordinary events to create a connection in the mind of the reader. [80] A sign ificant contributor to his writing style was his creation of Malgudi, a stereotypical small town, where the standard norms of superstition and tradition apply. 81] Narayans writing style was often compared to that of William Faulkner since both their works brought out the humour and energy of ordinary life while displaying compassionate humanism. [82] The similarities also extended to their juxtaposing of the demands of society against the confusions of individuality. [83] Although their approach to subjects was similar, their methods were different; Faulkner was rhetorical and illustrated his points with immense prose while Narayan was very simple and realistic, capturing the elements all the same. [84] Malgudi Main article: Malgudi Malgudi is a fictional, semi-urban town in southern India, conjured by Narayan. [85] He created the town in September 1930, on Vijayadashami, an auspicious day to start new efforts and thus chosen for him by his grandmother. [86] As he mentioned in a later interview to his biographers Susan and N. Ram, in his mind, he first saw a railway station, and slowly the name Malgudi came to him. [87] The town was created with an impeccable historical record, dating to the Ramayana days when it was noted that Lord Rama passed through; it was also said that the Buddha visited the town during his travels. 88] While Narayan never provided strict physical constraints for the town, he allowed it to form shape with events in the various stories, becoming a reference point for the future. [89] Dr James M. Fennelly, a scholar of Narayans works, created a map of Malgudi based on the fictional descriptors of the town from the many books and stories. [11] Malgudi evolved with the changing political lands cape of India. In the 1980s, when the nationalistic fervor in India dictated the changing of British names of towns and localities and removal of British landmarks, Malgudis mayor and city council removed the long standing statue of Frederick Lawley, one of Malgudis early residents. However, when the Historical Societies showed proof that Lawley was strong in his support of the Indian independence movement, the council was forced to undo all their earlier actions. [90] A good comparison to Malgudi, a place that Greene characterised as more familiar than Battersea or Euston Road, is Faulkners Yoknapatawpha County. [82] Also, like Faulkners, when one looks at Narayans works, the town gets a better definition through the many different novels and stories. 91] Critical reception Narayan first broke through with the help of Graham Greene who, upon reading Swaminathan and Tate, took it upon himself to work as Narayans agent for the book. He was also instrumental in changing the title to the more appropriate Swami and Friends, and in finding publishers for Narayans next few books. While Narayans early works were not commercial successes, other authors of the time began to notice him. Somerset Maugham, on a trip to Mysore in 1938, had asked to meet Narayan, but not enough people had heard of him to actually effect the meeting. Maugham subsequently read Narayans The Dark Room, and wrote to him expressing his admiration. [92][93] Another contemporary writer who took a liking to Narayans early works was E. M. Forster,[94] an author who shared his dry and humorous narrative, so much so that Narayan was labeled the South Indian E. M. Forster by critics. [95] Despite his popularity with the reading public and fellow writers, Narayans work has not received the same amount of critical exploration accorded to other writers of his stature. [96] Narayans success in the United States came a little later, when Michigan State University Press started publishing his books. His first visit to the country was on a fellowship from the Rockefeller Foundation, and he lectured at various universities including Michigan State University and the University of California, Berkeley. Around this time, John Updike noticed his work and compared Narayan to Charles Dickens. In a review of Narayans works published in The New Yorker, Updike called him a writer of a vanishing breed—the writer as a citizen; one who identifies completely with his subjects and with a belief in the significance of humanity. [97] Having published many novels, essays and short stories, Narayan is credited with ringing Indian writing to the rest of the world. While he has been regarded as one of Indias greatest writers of the twentieth century, critics have also described his writings with adjectives such as charming, harmless and benign. [98] Narayan has also come in for criticism from later writers, particularly of Indian origin, who have classed his writings as having a pedestrian st yle with a shallow vocabulary and a narrow vision. [13] According to Shashi Tharoor, Narayans subjects are similar to those of Jane Austen as they both deal with a very small section of society. However, he adds that while Austens prose was able to take those subjects beyond ordinariness, Narayans was not. [99] A similar opinion is held by Shashi Deshpande who characterizes Narayans writings as pedestrian and naive because of the simplicity of his language and diction, combined with the lack of any complexity in the emotions and behaviours of his characters. [100] A general perception on Narayan was that he did not involve himself or his writings with the politics or problems of India, as mentioned by V. S. Naipaul in one of his columns. However, according to Wyatt Mason of The New Yorker, although Narayans writings seem simple and display a lack of interest in politics, he delivers his narrative with an artful and deceptive technique when dealing with such subjects and does not entirely avoid them, rather letting the words play in the readers mind. [98] Srinivasa Iyengar, former vice-chancellor of Andhra University, says that Narayan wrote about political topics only in the context of his subjects, quite unlike his compatriot Mulk Raj Anand who dealt with the political structures and problems of the time. 101] Paul Brians, in his book Modern South Asian Literature in English, says that the fact that Narayan completely ignored British rule and focused on the private lives of his characters is a political statement on its own, declaring his independence from the influence of colonialism. [96] In the west, Narayans simplicity of writing was well received. One of his biographers, William Walsh, wrote of his narrative as a comedic art with an inclusive vision informed by the transience and illusion of human action. Multiple Booker nominee Anita Desai classes his writings as compassionate realism where the cardinal sins are unkindness and immodesty. [102] According to Wyatt Mason, in Narayans works, the individual is not a private entity, but rather a public one and this concept is an innovation that can be called his own. In addition to his early works being among the most important English-language fiction from India, with this innovation, he provided his western readers the first works in English to be infused with an eastern and Hindu existential perspective. Mason also holds the view that Edmund Wilsons assessment of Walt Whitman, He does not write editorials on events but describes his actual feelings, applies equally to Narayan. [98] Awards and honours Narayan won numerous awards during the course of his literary career. [103] His first major award was in 1958, the Sahitya Akademi Award for The Guide. [104] When the book was made into a film, he received the Filmfare Award for the best story. In 1964, he received the Padma Bhushan during the Republic Day honours. 105] In 1980, he was awarded the AC Benson Medal by the (British) Royal Society of Literature, of which he was an honorary member. [106] In 1982 he was elected an honorary member of the American Academy of Arts and Letters.

Equiano free essay sample

These findings have opened up a controversial debate among many literary critics ND historians, not only about whether or not Equation misrepresented his place of birth, but also about whether his fabrication of the truth makes his story any less credible. It is reasonable to believe that Equation was truthful while writing his narrative. However, even if Equation did falsely represent his place of birth and journey across the Middle Passage, he should not be chastised for his falsities, but instead hailed for his creative genius and remarkable accomplishments later in life.There is very little reason to believe Equation misconstrued the events of his early life. Cascaras findings, a 1 759 baptismal record and a 1 773 ships muster roll, are not nearly enough evidence to prove Quinoas dishonesty. While this may seem convincing to some, there are many ways to explain these misgivings. Although Equation claims he could smatter a little imperfect English (369) some time after being enslaved, this in no way made him a fluent speaker of the English language at the time. When Equation was baptized in 1 759, he had only been away from his home and his native language for 3 years, and was just beginning to get a grasp of the English ensue. When asked Where are you from? most fluent speakers would understand the question to mean Where were you born? However, with Quinoas limited knowledge at the time, he may have understood the question to mean Where did you just come from? This question most likely caused him to respond that he was from the Carolinas, his previous location. Another possible explanation could be that Equation was already attempting to assimilate into the European culture.After spending nearly three years working alongside the Englishmen at sea, Equation began to relish[deed] their society and manners (370). He no longer feared them, and the more time he spent with them, the more he actually wanted to be them. Perhaps his growing desire to resemble them, to imbibe their spirit, and imitate their manners (371), led him to lie about his African beginnings in order to appear more European. Although he could not possibly change the color of his skin, Equation took every other liberty to shed his African background and become more European.He dressed like a European, converted to Christianity, learned to read, write, and speak fluent English, and even ended his slavery y using his skills to buy his own freedom. Is it not plausible that in his quest to assimilate he attempted to drop his African heritage and adopt a more westernizes one? Unfo rtunately, not everyone can be convinced by such logic, and still suspect Equation was dishonest while writing his narrative. Whether he was born in Africa or not, Quinoas possible fabrications should not detract from the legacy he has left behind.A former slave himself, Equation knew all about the toils and strife of slavery, the horrors of the middle passage, and the unfair perspective of slaves as closer to animals than humans. It is only logical that in his new state of freedom, he make an effort to change the injustices brought upon his fellow man and embrace a new position as an abolitionist. Quinoas autobiography was perfectly timed with the rising opposition towards the slave trade. According to Vincent Garrett, the finder of Quinoas controversial documents, the narrative was published just after people have been calling for a black voice, a victim ;s voice.Whether [Equation] invented his African birth or no, he knew that what that moment needed was a first person account. And because they were going after the slave trade, it had to be an account of someone who had been born in Africa and was broug ht across the Middle passage. An African-American voice wouldnt have done it (Howard). Whether Quinoas experiences across the Middle Passage were a first hand account or not, the story they told all closely relate to many other slaves accounts during the same time period.As long as the story was an accurate representation of what crossing the Atlantic was truly like at that time, why does it matter if Equation directly experienced it or not? The autobiographys key role in the debate over ending the slave trade is what really matters, as well as the example Equation sets and the inspiration he creates in the African American culture. African Americans view him as an example of excellence and accomplishment, despite diversity. How many men at that time could say that Cathy], who had been a slave in the morning, trembling at the will of another, was become [their] own master, and completely free (389)? Quinoas place of birth does not alter the great strides he took towards ending slavery and encouraging equality b etween the lack man and the white man. Aloud Equation was a remarkable person. He was an accomplished businessman, a world traveler, an able sea hand, a former slave, a powerful abolitionist, a best-selling author, the husband of a British woman, and even the father of three daughters. Yet the debate of whether or not he is a credible, reliable source lives on. Even if Equation did create a false childhood in The Interesting Narrative, the effects of what he created were tremendous.There is much more to Equation than where he was born. Literary critics and Astoria alike should hail Equation for the positive effect he had on African history, instead of tearing him apart for using falsehoods to end the slave trade.