Category: Literature

Literature broadly is any collection of written work, but it is also used more narrowly for writings specifically considered to be an art form, especially prose fiction, drama, and poetry. In recent centuries, the definition has expanded to include oral literature, much of which has been transcribed.

Reserve Bank Of India

The Reserve Bank of India (RBI) is India’s central bank, also known as the banker’s bank.
The RBI controls the monetary and other banking policies of the Indian government. The Reserve Bank of India (RBI) was established on April 1, 1935, in accordance with the Reserve Bank of India Act, 1934. The Reserve Bank is permanently situated in Mumbai since 1937.

Establishment of Reserve Bank of India

The Reserve Bank is fully owned and operated by the Government of India. The Preamble of the Reserve Bank of India describes the basic functions of the Reserve Bank as;

1)Regulating the issue of Banknotes

2)Securing monetary stability in India

3)Modernising the monetary policy framework to meet economic challenges

The Reserve Bank’s operations are governed by a central board of directors, RBI is on the whole operated with a 21-member central board of directors appointed by the Government of India in accordance with the Reserve Bank of India Act.

The Central board of directors comprise of:
Official Directors – The governor who is appointed/nominated for a period of four years along with four Deputy Governors.
Non-Official Directors – Ten Directors from various fields and two government officials.

Functions of RBI

  1. The Issuer of the Currency: It has the sole authority to produce the currency. It also takes action to stop regulating the passage of fake money.
  2. Banker to the Government: It acts as a financer both to state and central government. It delivers short-term credit. It governs all new matters of government lands, maintaining the government debt unsettled, and taking care of the market for the government securities. It counsels the government on banking and monetary subjects.
  3. Banker’s Bank: It is the bank of all banks in the country as it delivers the loan to banks, rediscounts the invoice of banks and receives the payment of banks.
  4. Lender of Last Resort: All the other banks can borrow from the RBI by keeping qualified securities as a deposit at the time of crisis.
  5. Money Supply and Regulator of Credit: To manage demand and supply of cash in economy by Open Market Actions, Credit Ceiling and much more. It has to meet the credit necessities of the remaining banking system. It requires sustaining price stability and an elevated rate of economic growth.

Role Of Todays Youth In Building A Self Reliant India

“Self-reliance is the key to a vigorous life.”

Self-reliant India is the vision of the Prime Minister of India Narendra Modi of making India a self-reliant nation. The first mention of this came in the form of the ‘Self-Reliant India Mission’ during the announcement of the coronavirus pandemic related economic package on 12 May 2020. This self-reliant policy does not aim to be protectionist on nature and as the Finance Minister clarified, ” Self-reliant India does not mean cutting off from rest of the world”. The largest fund in the country worth Rs. 21,000 crore was setup by the IIT Alumni Council with the aim of supporting the mission towards self-reliance.

Everybody knows, that the youth are the future of any country. But India can take lead over many other nations because about 65 percent of the country’s population is below 35 years and 50 percent is below 25 years. With huge, educated young population, India is very uniquely poised to realise the demographic potential amd reap the advantage of this vast powerhouse of human resource talent. The need of the hour is to upgrade the skill or upskill the youth to meet the emloyment needs of technology driven 21st century and accelerate the pace of self-reliance.

The uncertainity created by the pandemic is being seen by many as an opportunity to upgrade knowledge and acquire new skills that will cater to the post-corona virus job scenario. The skills required for tomorrow’s jobs will be completely different from the skill-sets youth possess today.

So, its high time now, we have to make India self-reliant and youth plays the most important role in this mission.

International Workers Day

“Without labour nothing prospers.”

Labour Day or International Workers Day is celebrated annually on 1 May to celebrate the working class and labourers across the world. Socialist and labour unions celebrate this day by organising programmes to improve wages and working conditions of the workforce. In more than 80 countries Labour Day is a national holiday.

Before a formal Labour Day came into place, deaths, injuries and dangerous working conditions were very common among the working class globally. During the rise of industrialisation, the U.S. exploited the working class during the nineteenth century and made them work upto 15 hours a day under rigorous conditions. The rising death of the workforce in industries forced the working class to raise their voices for their safety. After efforts made by the workers and socialists, eight hours was declared as the legal time for the workers in the late nineteenth century by the American Federation of Labour.

The origin of Labour Day goes back to an incident in Chicago on May 4, 1886 known as the Haymarket Affair. On this day workers assembled as part of a peaceful rally in a strike demanding an eight hour work day. An unknown person threw a dynamite bomb at the police as they acted to disperse the meeting, and the bomb blast and ensuing gunfire resulted in the deaths of seven police officers and atleast four civilians; dozens of others were wounded. The Chicago protests led to many countries and at last they got the proper labour rights.

So, they had a long repression from the society. So, now the time has come to live respectfully and safe. Without labour no country can prosper. They are the ones who make a way towards country’s development. Their hardwork, dedication cherishes the path of development of country. So, respect them and provide safe working conditions to them. The below mentioned lives are aptly quoted;” A worker is a creator and a great asset to every nation”.

New Forms of Punishment

Section 53 prescribes five types of punishments to be meted out to a person convicted of a crime under the Code, depending on the nature and gravity of the offence,viz .:

(i) Death; (ii) Imprisonment for life; (iii) Imprisonment, rigorous with hard labour, or simple; (iv) Forfeiture of property; and (v) Fine.

It is suggested to add five new forms of punishment to the existing ones in section 53, IPC with a view to deter particular types of criminals. Such punishments will have more psychological, social and moral impact on the criminals and will go a long way in curbing crimes. The proposed punishments are: (i) Externment, (ii) Compensation to victims of crime, (iii) Public Censure, (iv) Community service, and (v) Disqualification from holding public office.

(i) Externment: Externment or banishment is a form of punishment in which an accused is sent out of the place of his residence to another place for a specified period of time as mentioned in the order issued by the court. This is done to deprive the accused of the company of his family members, friends and associates so that he or she may not indulge in criminal activities. Externment is resorted to primarily in case of anti-social, hardened and habitual criminals.

(ii) Compensation to victims of crime: Unfortunately, the victims of crime in our country do not attract the attention of law makers. Of late, Civil Procedure Code, 1973 in section 357 has empowered the court to award compensation to the victims of crime in very limited cases at the time of passing the judgment. No doubt, the higher judiciary has on times provided compensation to the victims of crime of custodial violence, sexual assault, rape, illegal detention by invoking Article 21 of Constitution, but such instance will not serve the plight of helpless victims.

(iii) Public Censure: Public Censure or social censure is one of the methods of punishment prescribed in some of the countries, such as Russia, Columbia etc., in respect of certain offences of anti-social nature, such as white-collar crimes, tax crimes, food adulteration, etc. In ancient India, public censure was considered suitable punishment for certain class of criminals.

(iv) Community Service: Community service or corrective labour is a form of punishment in which the convict is not deprived of his liberty. Corrective labour is the standard penalty given in those cases where it is considered that the accused need not to be isolated from the society. The period ranges between one month to one year in such cases. This system is used in Soviet Russia with good results. An important feature of this type of punishment is that the accused is not deprived of his liberty and he may go home after the day’s work.

(v) Disqualification from holding public office and contest elections: Disqualification to hold public office and contest election of legislature and local bodies as a form of punishment will have the adequate and desired deterrent sanction, if sincerely implemented. Representation of the People Act, 1951 disqualifies a person convicted for a period of two years or more to contest election for a period of six years. But the provisions are very limited in scope and are being abused with impunity.

Theories of Punishment in Indian Penal Code,1860

Introduction

Punishment is the sanction imposed on an accused for the infringement of the established rules and norms of the society.

Objective

The object of punishment is to protect society from mischievous and undesirable elements by deterring potential offenders, by preventing the actual offenders from committing further offences and by reforming and turning them into law abiding citizens.

Types of Theories

  1. Deterrent Theory
  2. Preventive Theory
  3. Retributive Theory
  4. Reformative Theory
  5. Multi Approach Theory

a) Deterrent Theory: According to this theory, the object of punishment is not only to prevent the wrong-doer from doing a wrong second time, but also to make him an example to others who have criminal tendencies. Salmond considers deterrent aspects of criminal justice to be most important for control of crime. Deterrent punishment is likely to harden the criminal instead of creating in his mind a fear of law. Hardened criminals are not afraid of imprisonment.

b) Preventive Theory: According to Paton:’The theory concentrates on the prisoner and seeks to prevent him from offending again in the future. The death penalty and exile serve the same purpose of disabling the offender’. Critics point out that preventive punishment has the undesirable effect of hardening first offenders, or juvenile offenders, when imprisonment is the punishment, by putting them in association of hardened criminals.

c) Retributive Theory: In primitive society punishment was mainly retributive. The person wronged was allowed to have revenge against the wrong-doer. The principle of ‘an eye for an eye’, ‘a tooth for tooth’, was the basis of criminal administration. According to Justice Holmes: ‘It is commonly known that the early forms of legal procedure were grounded in vengeance’. The advocates of this theory plead that the criminal deserves to suffer.

d) Reformative Theory: According to this theory, the object of punishment is reformation of criminals. The object of the punishment should be to reform the offender. The criminal must be educated and taught some art and craft or industry during his term of imprisonment, so that he may be able to lead a good life and become a responsible and respectable citizen after release from jail.

e) Multi Approach Theory: In fact, a perfect system of criminal justice could never be based on any single theory of justice. Every theory has its own merits and every effort should be made to extract the good points of each and integrate it so that best of all could be achieved. Punishment should be proportionate to the nature and gravity of the crime. The object of any concession given to an offender should be to convince him that normal and free life is better than life in jail.

Digital Banking

Digital Banking has completely changed the way we bank in today’s times. With Digital Banking, you can transact with higher speed, ease and convenience.

What is Digital Banking? 

In simple terms, Digital Banking means availability of all banking activities online. Here, you have the luxury to freely access and perform all traditional banking activities 24*7 without having to personally go to a bank branch to get your work done. Some of the major online banking activities include-

(1) Money Deposits, Withdrawals, and Transfer
(2) Checking/Savings Account Management
(3) Applying for Financial Products
(4) Loan Management
(5) Bill Payment
(6) Account Services

Many banks also offer other integrated services like investing in Mutual Funds and other investment options online. Thus, making Digital Banking a widely used concept.

Digital Banking in India

Digital Technology has drastically changed the way banks interact with us. Similarly, it has completely changed the way we transact and interact with the bank. This is especially true in the case of a booming technological and financial economy like India, where more and more people are being connected to Digital Banking Platforms with each passing day. 

With Digital Banking you can perform every transaction, from start to end in a seamless, secure manner. You can withdraw money, deposit money, apply for loans, invest in Mutual Funds- all at a click of a button.

With the introduction of mobile banking you can perform transactions on the go. Mobile banking is a convenient and easy way to finish your transactions. For example, you can do over 125 transactions through HDFC Bank’s mobile banking app. 

The latest addition to mobile banking feature is the Mobile Banking LITE app.The HDFC Mobile Banking app can work without an internet connection, italso doesn’t take up too much space and is quick to install over slow connections. It’s a safe and secure way of making transactions on the go.

Digital Banking services are offered by all major retail banks in the country today and have, in fact, become an integral part of their services. So, one can now bank from the ease of one’s home, with the convenience of smartphone screens.

(1) Indian Financial System Code (IFSC)
The Indian Financial System Code (IFSC) is an 11-character code in alphanumeric format to uniquely identify all bank branches within the NEFT, RTGS, and the Immediate Payment Service (IMPS) network within India. This code is printed on every cheque leaf in your personal or company chequebook. To transfer funds to an account electronically, the receiver must share his IFSC code as it identifies the receiver bank and branch.Magnetic Ink Character Recognition (MICR)
Magnetic Ink Character Recognition (MICR) is a technology used to verify the legitimacy or originality of paper documents, especially cheques. A special ink sensitive to magnetic fields is used in the printing of certain characters. Every bank branch has a unique MICR code, which helps the RBI speed up the cheque clearing process, with MICR readers.

(2)Magnetic Ink Character Recognition (MICR)
Magnetic Ink Character Recognition (MICR) is a technology used to verify the legitimacy or originality of paper documents, especially cheques. A special ink sensitive to magnetic fields is used in the printing of certain characters. Every bank branch has a unique MICR code, which helps the RBI speed up the cheque clearing process, with MICR readers.

(3) Electronic Clearing Service (ECS)
Electronic Clearing Service (ECS) is another method of transferring funds from one bank account to another. It is most often used to pay regular bills (telephone, mobile, credit card, electricity, etc, to make EMI payments (Personal, Car, Home Loan), and SIP investments. This is done by invoking the auto debit facility. ECS is also used by entities for payment of salaries, pensions, distribution of dividend interest etc.

(4) Immediate Payment Service (IMPS)
Since NEFT may not be available for use on weekends and bank holidays, you could try using IMPS or Immediate Payment Service. The service is available 24X7. The minimum transfer value is Rs 1 and the maximum value is Rs 2 lakh.
But to use this service, you will need to register via your bank and provide the mobile number and MMID of the beneficiary as IMPS transfer can also be done through mobile phones. Mobile Money Identifier (MMID) is a seven-digit unique number issued by the bank.

(5) National Electronic Funds Transfer (NEFT)
The National Electronic Funds Transfer (NEFT) system allows individuals, companies, and other entities to transfer funds electronically from one bank to another within India. Normally, funds from the remitting bank will be sent to the RBI within three hours of the transaction. However, the time taken to credit the beneficiary bank’s branch account depends on how long it takes the bank to process the transaction. It should be noted that NEFT operates only during business hours on weekdays. NEFT transactions cannot be done on Sundays, bank holidays, and second and fourth Saturdays of the month. The minimum transfer value is Rs 1 and there is no upper limit.

(6)Real Time Gross Settlement (RTGS)
Another method for transferring money electronically, from bank to bank, within the Indian banking system is Real Time Gross Settlement (RTGS) scheme, where the minimum amount for each transaction is Rs 2 lakh and there is no upper limit. The beneficiary account receives the money immediately.
The RTGS system is primarily meant for large value transactions.With effect from 00:30 hours on December 14, 2020, RTGS facility is available round the clock on all days i.e. 24 hrs. India one of the few countries to operate the system 24×7. This comes within a year of the Reserve Bank of India (RBI) operationalising NEFT 24×7. NEFT is the popular mode for small-value transactions. RTGS, which started on March 26, 2004 with a soft launch involving four banks, presently handles 6.35 lakh transactions daily for a value of Rs 4.17 lakh crore across 237 participant banks. The average ticket size for RTGS in November 2020 was Rs 57.96 lakh, making it a truly large-value payment system. RTGS uses ISO 20022 format which is the best-in-class messaging standard for financial transactions. The feature of positive confirmation for credit to beneficiary accounts is also available in RTGS.
Earlier, the RBI had decided not to levy charges on transactions through NEFT and RTGS in order to promote digital transactions, and had asked banks to pass on the benefits to customers. The RBI used to levy minimum charges on banks for transactions routed through RTGS and NEFT. Banks, in turn, levied charges on their customers. RTGS is meant for large-value instantaneous fund transfers, while NEFT is used for fund transfers of up to Rs 2 lakh.
It should be noted that NEFT, RTGS and IMPS impose transaction fees in slab rates.

(7) Society for Worldwide Interbank Financial Telecommunication (SWIFT)
SWIFT is an acronym for Society for Worldwide Interbank Financial Telecommunication. It is an internationally recognised identification code forbanks worldwide, and is usually used for international wire transfers. Only those banks that are SWIFT-enabled can take part in this system. In EU nations SWIFT is also known as BIC or Bank Identification Code. When dealing with international transfers also be aware of IBAN or International Bank Account Number. IBAN (International Bank Account Number) appears in bank statements and the bank’s online systems. IBAN and BIC (Bank Identification Code ) contain your bank account number and sort code written in an internationally recognised format. All these numbers can make your wire transfers happen quickly and securely.

Rights of Pawnee and Pawnor

The bailment of goods as a security for payment of a debt or performance of promise is called ‘pledge’. The person with whom the goods are pledged is known as ‘Pawnee’ or Pledgee’. The person pledging the goods is known as ‘Pawnor’.

The rights of the pledgee or pawnee are mentioned in Section 173 to 176 of the Indian Contract Act,1872.

Rights of Pawnee

  1. Right to retain the goods pledged (Section 173 and 174): According to Sec. 173, the right of a pawnee to retain the goods pledged shall not be only for payment of the debt or the performance of the promise, but he can also exercise this right for interest on the debt and all necessary expenses incurred by him in respect of the possession or for the preservation of the goods pledged. According to Section 174, a pawnee can retain the goods pledged only as a security for that debt or promise for which they are pledged, but there is a presumption that if there are subsequent advances, they are also the part of the original debt and the pawnee may retain the goods and to recover subsequent advamces also. This is merely a presumption which could be rebutted by contract to the contrary. The pawnee is bound to redeliver the goods after he gets what is due to him.
  2. Right to recover extraordinary expenses incurred by pawnee (Section 175) : According to section 175, the pawnee is entitled to receive extraordinary expenses incurred by him for the preservation of the goods pledged from the pawnor.
  3. Right of suit to recover debt etc., and sale of the pledged goods (Section 176) : Section 176 confers right on the pawnee, including right of selling the pledged goods if the pawnor makes a default in payment of debt or performance of promise at the stipulated time. This section confers following rights on pawnee on the pawnor’s default in fulfilling promise:-. a) he may bring a suit against the pawnor upon the debt or promise and retain the goods pledged as collateral security. b) he may sell the good pledged on giving reasonable notice of the sale to the pawnor.

Right of Pawnor

Right of Pawnor to Redeem (Section 177): The pawnor has right to redeem the goods pledged, i.e., take back the goods from pawnee on payment of the agreed debt or performance of the promise in accordance with the agreement. He can exercise the right to redeem before the pawnee has made an actual sale of the goods.

Legal Heir’s Right to Redeem: In case of death of a pawnor, the pledge made by him can be redeemed by his legal heirs on meeting the liabilities concerning the pledge.

Covid -19, Society and Law

Introduction

Humankind is going through a new and unprecedented experience with the rapidly spreading Covid-19 pandemic. We still do not know who ‘patient zero’, the first person to be infected and transmit it to others, was. The severity of this virus, which has caught the world by surprise, lies not only in the delay of laboratories in finding an effective and efficient vaccine, but also in the fact that the measures taken to counter it differ considerably from what was previously adopted to confront various acute crisis, whether health, political, social or economic.

There is no doubt that the Covid-19 pandemic will change the face of human society, but it forces us to ask some important questions. Will this change only affect the healthcare systems, or will it extend to consumption patterns, value systems, political regimes and legal systems, thus leading to the fall of the huge financial and economic empires? Will the major transformations the world will undergo be determined by how we recover from the effects of this situation?

According to the World Health Organization, the problem does not lie in Covid-19 alone but rather in the fear, panic and terror caused by the spread of this virus, and amplified by the media, which has been presenting the situation as if it were the end of the world. Barring the measures adopted by China, where the virus originated, the methods used to manage the crisis around the world are somewhat similar. To some extent, China succeeded in curtailing the spread of the virus, thanks to the spirit of discipline in its people, and due to its health infrastructure, the plethora of research centres and laboratories, and the ability to control the sources of information from the onset. Most other countries have wasted precious time after the first cases appeared, relying on legal and security control in dealing with the pandemic and information about it, rather than establishing a single entity to disseminate information backed by science.

The current crisis is not of the pandemic alone. Rather, it is of the far-reaching consequences on human behaviour. Addressing these repercussions should not be limited to taking ad-hoc costly measures limited to the current situation but should prompt us to think about putting into place innovative measures and actions that go beyond the pandemic. Measures like imposing quarantines, enacting new laws to manage the pandemic, using modern tools for e-learning and telework, ensuring a minimum standard of living for all, granting loans, exemptions from paying water and gas bills and taxes, assisting the unemployed, and using the military to assist in security measures during the epidemic have cost countries billions of dollars. These are funds that could have been invested in infrastructure or other major projects, but instead have now been used to respond to the immediate needs of the people.The pandemic will radically change the modern world, leading to three likely outcomes.

The first outcome

A new theory will be integrated within political science in the future. Indeed, traditional legitimacies in the systems of government, which are derived from ballot boxes, hereditary legitimacy or religion, are beginning to decline, leaving room for a new theory called the “theory of achievements”. Since the Cultural Revolution of Mao Zedong in the 1960s, China has worked on this emerging legitimacy, as the Chinese Communist Party has distinguished itself from the rest of the Communist parties in the world.

The second outcome

The traditional conflict between wrong information and right information will transform into a conflict between convincing information and unconvincing information, as legal arsenals and control tools are no longer effective in the spread and prevalence of correct information. The method of producing information and choosing its dissemination channel is becoming a means of turning it into convincing information, regardless of if it is true or false.

The third outcome

The process of monitoring people will transition from external to internal control using smartphones. This is also what happened in China, to curb down on misinformation on Covid-19 during its early stages and as a preventive measure in the absence of a vaccine. These smart devices have become effective tools for measuring citizens’ reactions at home to what is happening in their surroundings.

A coming human revolution

Humankind is going through a humanitarian revolution, the kind that has occurred only thrice before: first, after the discovery of fire; second, with the advent of agriculture; and third, following the industrial revolution. The most prominent sign of this ‘fourth revolution’ is the predominance of new technology and the supremacy of modern means of communication, which have spawned a conflict between two major concepts of using the internet. The first can be described as social perception with a human connect, while the second is non-social perception, and can be termed as wild and unbridled. The humanitarian-minded perception is likely to win this conflict, as this human revolution is making its mark on our social existence and old behaviours. This will impact the current value system and will have political andeconomic implications.

The post-epidemic stage will see the emergence of a new human being, whose daily behaviour and thinking will differ from what it was before the Covid-19 outbreak. The political, legal and economic systems will have to adapt to this new human being. Despite the timely importance of the current safety measures being put into action around the world, there is a great need for these to be integrated into a comprehensive post-pandemic thinking. In fact, we will find ourselves faced with a generation who thinks differently from the pre- pandemic generation.

In light of the impact of Covid-19 on the individual and collective behaviours of society and State, and people’s continued thirst for information, it is necessary to keep in mind the post- pandemic world when it comes to decision-making. The Covid-19 storm will pass and mankind will survive, despite the loss of many lives. Humankind will soon live in a world that is very different from the one before the virus. However, the pandemic will succeed where the other movements of the 20th century have failed in their struggle to establish democracy and human rights, and preserve a safe environment for all.

Doctrine of Notice

INTRODUCTION

The concept of Notice for the purpose of The Transfer of Property is given under Section 3 of Transfer of Property Act, 1882 (TPA). Notice means to have knowledge of something i.e. to know something. In law, it means knowledge of a fact. It is used to decide on conflicting claims of two parties. In law, the Notice or Knowledge of a fact affects one’s legal rights and liabilities.

Under Section 3 of TPA Notice can be; “Actual or express Notice” or “Constructive Notice”, or it may be imputed to the transferee when information of the fact has been obtained by his Agent.

Constructive notice

It is based on the law of presumption or it is presumed that in certain circumstances that the person knows the fact. He cannot afterwards say against it. This type of notice can be divided into five.

  1. Notice imputed by wilful abstention from enquiry
  2. Notice from gross negligence
  3. Notice by registration
  4. Notice by possession
  5. Notice by agent

Actual notice.- Actual notice, to constitute a binding force, must be definite information given by a person interested in the thing in respect of which the notice is issued, as it is settled rule that a person is not bound to attend to vague rumours or statements by mere strangers, and that a notice to be binding must proceed from some person interested in the thing. A mere casual conversation in which knowledge of a certain thing is imparted, is not notice of it, unless the mind of a person has, in some way been brought to an intelligent apprehension of the nature of the thing, so that a reasonable man or any normal man of business would act upon the information, and would regulate his conduct accordingly. In other words, the party imputing notice must show that the other party had knowledge which would operate upon the mind of any rational man, or man of business, and make him act with reference to the knowledge he has so acquired. A vague or general report or the mere existence of suspicious circumstances is not in itself notice of the matter to which it relates. A general claim is not sufficient to affect a purchaser with notice of a deed of which he does not appear to have knowledge. If a person knows that another has or claims an interest in property for which he is negotiating he is bound to inquire what his interest is, and if he omits to do so, he will be bound, although the notice was inaccurate as to the particulars to the extent of such interest.

The notice must be given in the same transaction. A person is not bound by notice given in a previous transaction which he may have forgotten. Notice to a purchaser by his title papers in one transaction will not be notice to him in an independent subsequent transaction in which the instruments containing recitals are not necessary to his title, but he is charged constructively with notice merely of that which affects the purchase of the property in the chain of title of which the payer forms the necessary link.

Constructive notice.- Constructive notice is the knowledge which the Courts impute to a party upon a presumption so strong that it cannot be allowed to be rebutted, that knowledge must have been communicated. “The doctrine of constructive notice” said Lord Brougham in Kennedy v. Green, depends upon two considerations first that certain things existing in relation or the conduct of parties, or in the case between them, begets a presumption so strong of actual knowledge that the law holds the knowledge to exist because it is highly improbable it should not, and next, that policy and safety of the public forbids a person to deny knowledge while he is so dealing as to keep himself ignorant or so as that he may keep himself ignorant, and yet all the while let his agent know, and himself perhaps, profit by that knowledge. The broad principle underlying the doctrine of constructive notice is that a person who is bound to make an inquiry and fails to do it should be held to have notice of all facts which would have come to his knowledge had he made the inquiry. Where, on the other hand, a person is not bound to make an inquiry he cannot be charged with constructive notice of the facts that might havebeen ascertained on such inquiry. Again, where a fact, of which a person has notice, would not put him on inquiry as to the matters in question, it cannot be constructive notice of such matter.

Classes of constructive notice

(1) Wilful abstention from search which one ought to make.
(2) Gross negligence.
(3) Registration as a notice.
(4) Possession as notice.
(5) Notice to agent
(5.1)Notice should have been received in his capacity as agent.
(5.2)Notice must have been given in the course of agency business.
(5.3)Notice must be of a fact which is material to the Agency Business.
(5.4)Fraud by an agent.

Conclusion

Thus it can be said that Constructive notice is a manifestation of the rule of Caveat Emptor. This is because according to Constructive notice, a person ought to have known a fact as if he actually does know it. It presupposed that in property translation a transferee ought to ascertain and verify certain facts for safeguarding his own interest. Thus he must be aware of the nature of the transaction. These facts may relate to property or the transferor, like whether the property is free of any charge or encumbrances or whether the transferor is competent to transfer the property or not.

If the property is encumbered, then the exact nature of the encumbrance ought to be ascertained by the transferee. Law puts it as the duty of the transferee, as a reasonably prudent person to be reasonably vigilant and diligent to ascertain the facts, inspect the documents relating to property in possession of the transferor, inspecting concerned persons, even with relevant statutory authorities, if required. Failure to do this would result in the imposition of Constructive notice.

Internet and Mobile Association of India v. Reserve Bank of India

Statement of Facts

  1. On 5th April,2018 Reserve Bank of India issued a press release raising the concern about the consumer protection from trade of virtual currencies. They were of the view that trading in virtual currency also referred as crypto currency are prone to hacking and therefore would lead to money laundering, terrorist activities, etc. In this view RBI asked the banks to not to deal with the transactions related to the trading of virtual currency.
  2. The services which RBI directed the bank not to deal with were – maintaining the accounts, registering, trading, settling, clearing, giving loans against virtual currencies, accepting virtual currency as collateral, opening accounts of exchanges dealing with them and transfer of sale/purchase of virtual currencies.
  3. The matter was challenged by Internet and Mobile Association of India. The Supreme Court of India allowed the petition on the ground of proportionality. Earlier in 2013 the Reserve Bank of India do issued a public caution to the traders and holders of virtual currency in context with the legal and security related risks associated with it.

Issues Raised

  1. Whether the Reserve Bank of India had the jurisdiction to disallow the trade of virtual currency?
  2. Whether the Respondent had the powers to regulate virtual currency as they were not equivalent to money or legal tender?
  3. Whether the circular which was issued by the RBI was proportional?

Critical Analysis of the Case

A step in the right direction was taken by the Supreme Court of India, in the judgment of Internet and Mobile Association v. RBI. The court quashed the circular of the RBI that directed financial agencies to disocciate themselves from entities involved in virtual trading or transactions relating to VC’s. Some of the concerns that led to the issuance of circular include the anonymity of the transactions and the protection of investors when dealing in cryptocurrency. The major apprehension of the RBI was the inherent difficulty in tracking the source of money which has led to an increase in the number of cryptocurrency scams in the country. Still a very volatile technology, we have not had enough discussion around its shortcomings, leading to an adverse preference of this technology in the monetary circuit.

The Petitioner relied on the case of MS Gill v. Chief Election Commissioner, which led that there was an express prohibition of any authority to do anything which may improve its case. The contention of the petitioners rested on the premise that denial of banking services to those activities of trade recognized by law, would be extremely disproportionate, leading to the violation of extremely disproportionate, leading to a violation of Article 19(1)(g) of the Constitution. Therefore, an understanding of whether there was an infringement of this constitutional right was necessary and to this end, the court relied on the case of Md. Yasin v. Town Area Committee, which makes it amply clear that the right under article 19(1)(g) would be affecyted “In effect and in substance” when there is a complete stoppage of a particular business activity, owing to a certain measure that was undertaken. In Keshavlal Khemchand and Sons Pvt. Ltd. v. Union of India, the court pointed out that “Reserve Bank of India is an expert body to which the responsibility of monitoring the economic system of the contry is entrusted, under various enactments like the RBI Act, 1934, the Banking Regulation Act, 1949.”

The judgement of the court has started an effective discussion on lines that were never traversed before, and while that is indeed commendable, we need to look ahead and anticipate the potential risks on the economy. With that in mind, VC’s promise a more feasible future, especially in this era where people are connected through technology in ways previously unimaginable. Various stakeholders have posted many suggestions, particularly with regarding to creating a model that can monitor and regulate crypto currency, without bringing a blanket ban of the same, which ought to be considered by the government in the light of pending bill. What we need to do is find a balance and not discourage startups from adopting this technology, and if this is ignored, India could be handicapped from exploring opportunities that crypto currencies have to offer. Instead of shying away from addressing these concerns, we need to be proactive and have a structured policy in pace to assuage any potential concerns in the future.

Anatula Sudhakar v. P. Buchi Reddy

Statement of Facts

This appeal for special leave is by the defendant in a suit for permanent injuction. Puli Chandra Reddy and Puli Buchi Reddy were the plaintiffs in the said suit. Both the plaintiffs claimed to be the respective owners in possession of the said two sites having purchased them under two registered sale deeds dated 9.12.1968 from Rukminibai. When they were digging trenches in order to commence construction, the defendant interfered with said work. The plaintiffs filed a suit for permanent injuction to restrain the defendant from interfering with their possession. Defendant resisted the suit claiming that suit property measuring 300sq. yards in premises No. 13/776 was purchased by him from K.V. Damodar Rao, brother of Rukminibai. He had also obtained a loan for such construction from the Central Government by mortgaging the said property. According to him, when he commenced construction in the said property, the plaintiffs tried to interfere with his possession and filed a false suit claiming to be in possession.

Issues Raised

  1. Whether the plaintiffs are in exclusive possession of the suit sites?
  2. Whether the defendant has interfered with the possession of the plaintiffs over the split plots?
  3. Whether the plaintiffs are entitled to permanent injunction? And to what relief?

Critical Analysis

A step in the right direction was taken by the High Court in its judgement of Anatula Sudhakar V. P. Buchi Reddy. The High Court by its judgement dated 18.1.1991 allowed the second appeal and restored the judgement and decree of the Irial Court and consequently held that plaintiffs had established their title in regard to the two vacant sites purchased by them and drew an inference that possession was presumed to be with them by applying the principle of possession follows title. The HC also held that it was not necessary to plaintiffs to sue for declaration of title, as the question of title could be examined incidental to the question of possession.

There was some confusion as to what circumstances the question of title will be directly and subsequently in issue in the suit for injunction simpliciter. In Vanagri Sri Selliamam Ayyanar Uthirasomasundareswarar Temple V. Rajanga Asari AIR 1965, Madras High Court considered an appeal arising from a suit for possession and injunction. The defendant contended that the plaintiff had filed an earlier suit for injunction which was dismissed, and therefore the plaintiff was precluded from agitating the issue of the title in the subsequent title suit, being barred by the principal of res judicata. It was held that the earlier suit was only for injunction and the averments in the plaint did not give rise to any question necessitating denial of plaintiffs title by the defendant, and as the earliest suit was only concerned only with possessory right and not title, the subsequent suit was not barred. There are several decisions taking similar view that in a suit for injunction, the question of title does not arise or would arise only incidentaly or collateraly, and therefore a subsequent suit for declaration oof title would not be barred. The judgement by the High Court has stated an effective decision and restoring the decree of the trial court in favour of the plaintiffs that the plaintiffs and their witnesses gave evidence to the effect that Damodar Rao represented that his sister Rukminibai was the owner of the plot and negotiated for the sale of the several portions thereof in favour of the plaintiffs. Further, where title of plaintiffs is disputed and claims for possession is purely based on tiltle, and the plaintiffs have to rely on various principles of law relating to ostensible ownership and section 41 of TPA, validity of an oral gift by way of ‘Pasupu Kumkumam’ under Hindu Law, estoppel and acquiescene, to put forth a case of title, such complicated questions could properly be examined only in a title suit, that is a suit for declaration and consequential reliefs and in a suit for an injunction simppliciter.

State of Haryana v. Bhajan Lal and Others

Statement of Facts

The first Respondent was a minister and subsequently Chief Minister of Haryana State. Later he became Union Minister. Bhajan Lal at the same time of the case was the Union Minister of Environment and Forests and Devi Lal was elected as the Chief Minister of the State of Haryana. In the same election Respondent 2, Dharam Pal lost the election against Smt. Jasma Devi, wife of Bhajan Lal . Owing to various political rivalries and institutions of various criminal cases there was a lot of bad blood between Bhajan Lal and Devi Lal. Consequently, Respondent 2 placed a complaint before the CM, Devi Lal against Bhajan Lal where he alleged that Bhajan Lal possesses disproportionate property or pecuniary resources compared to his indefinite sources of income. It was also alleged that the accumulation of that much property was far beyond his legal means. Special officer on duty in CM’s secretriat passed the message to the office Director General of Police stating that the CM has sought appropriate action in the said case. The complaint was further passed on to the Superintendent of Police (SP) asking for the necessary measure to be taken and report back. The SP asked the SHO (Station House Officer) to register the case and investigate. Subsequently, a case was filed under Sec. 161 and Sec. 165 of the IPC and Section 5(2) of the Prevention of Corruption Act in November 1987. The copy of the FIR was then sent to the magistrate and the investigation was started.

Issues Raised

  1. Whether just the allegations are enough to constitute a cognizable offences and give the power of investigation to the police?
  2. Whether the action of investigating on the part of SHO on just the order of one word “investigate” from SPis enough as per Sec. 5 of Prevention of Corruption Act, 1947?
  3. Whether the HC was justified in quashing the FIR and criminal proceedings and acted under the ambit of Article 226 of the Constitution and Sections 482, 154 and 157 of Cr.P.C., and to what extent the orders suffer from legal infirmity?

Critical Analysis

Cases of corruption against politocal leaders in India are not rare. This is one of such case that notified the alleged corruption carried out by a significant political figure leading to registration of a case against him by his rival. Inevitably the suit underwent the question of legitimacy that led to the appearance of the same before the SC. The case holds importance as it significantly points out the powers and limitations of various authorities at different points of time throughout the trial of matter. It re-emphasized the power of investigation that police hlods and in what nature of cases, the necessity of filing an FIR, and the extent to which High Courts should use their special power of quashing Criminal proceedings. The case re-established that our Constitution is based on the concept of Rule of Law which serves as an aorta of governance in our democratic system and no one or authority is higher than law and that law is supreme. Everybody exclusively and on the whole is undeniably under the authority of law irrespective of the wealth and power they possess. The case likewise relooks at the complete and resultant backlogs of evils like corruption that exist in our country. Therefore this parasite of bribery if not battled against all fronts and at the levels checked and completelly removed, will destabilize the very establishments of democracy and erode the foundations of rule of law and make the whole administration ineffectual and broken.

Globalisation

Introduction

Globalisation is the process of international integration arising from the interchange of world views, products, ideas and other aspects of life. The vital element of globalisation is ‘worldwide interconnectedness’ that is created and sustained as a consequence of these constant flows. Globalisation is a multi-dimensional concept. It has political, economic and cultural manifestations and these must be adequately distinguished. The impact of globalisation is vastly uneven- it affects some societies more than others and some parts of some societies more than others and it is important to avoid drawing general conclusions about the impact of globalisation without paying sufficient attention to specific contexts.

Causes of Globalisation

  • There are many causes of it but technology affects it more than anything else. Invention of printing, integrated chip(IC), telephone, internet has revolutionized communication between people in different parts of the world.
  • Due to faster communication and transportation, ideas, commodities, capital move more easily to any part of the globe than ever. As people got the technology of better communication and transportation they recognise these mediums to connect rest of the world.
  • The Ebola virus is not confined to only African continent but it affects other nations too.
  • It has mainly 3 types of consequences:-
    1. Political : Globalisation results in discomfort in functionality and working of government. The increased role of MNC all over the world leads to reduction in the capacity of govt. to take decisions on their own. But at the same time globalisation does not always reduce state capacity. The importance of state continues to be unchallenged basis of political community. Indeed in some manner state capacity has recieved a boost as a consequence of globalisation. Due to advancement in technology available in state, it can collect information about its citizens. With this information, the state is better governed. State becomes powerful than earlier due to emergence of new technology.
    2. Economic : The economic globalisation involves greater economic flows or exchange of commodities among different countries of the world. The mention of economic globalisation draws our attention to the role of international institutions like IMF and WTO in determining economic policies across world. The restrictions imposed by different countries on capital across countries and allowing imports of other countries have been reduced. Capital across countries means that investors in prosperous countries can invest in other countries including developing countries where they might get good returns. There is less movement of people across the globe because developed countries have carefully guarded their borders with visa policies to ensure that citizens of other countries cannot take away the jobs of their own citizens.
    3. Cultural : It refers to impact of globalisation in what we eat, wear, drink, watch and think. The cultural effect of globalisation poses a threat to different cultures in the world other than western culture. There is a cultural homegenisation which means rise of uniform culture, as we notice the popularity of American things like McDonald’s, Pizza, KFC, GOOGLE, blue jeans and hollywood movies has spreaded across the globe. This is dangerous not only for the poor countries but for the whole of humanity because it leads to the shrinkage or extinction of the rich cultural heritage of the entire globe. But cultural consequences of globalisation is not always negative as sometimes external culture influences simply enlarge our choices and sometimes they modify our culture without overwhelming the tradition. The Maggi is no substitute for noodles, therefore, does not pose any real challenge. Globalisation leads to each culture becoming more distinctive and different. This phenomenon is called Cultural Hetergenisation. Those who are concerned about social justice are worried about the extent of state withdrawal caused by process of economic globalisation. They point out that it is likely to benefit only a small section of population while impovershing those who were dependent on govt. for jobs and welfare. They have emphasised the need to ensure institutional safeguards to minimise the negative effects of globalisation on those who are economically weak. Many movements all over the world feel that safety nets are insufficient or unworkable. They have called for a stopping to forced economic globalisation, for its results would lead to economic ruin for the weaker countries, especially for the poor within these countries. Some economists have described economic globalisation as re-colonisation of the world. Advocates of economic globalisation argue that it generates greater economic growth and well-being for larger sections of population when there is de-regulation. Greater trade among countries allows each economy to do what it does best. This would benefit the whole world. They also argue that economic globalisation is inevitable.

India and Globalisation

From the colonial period, India became an exporter of primary goods and raw materials and a consumer of finished goods. After independence, because of the experience with British, we decided to make things ourselves rather than depending on others. We also decided not to allow others to export to us so that our own producers could learn to make things. This step generated its own problem. India had a fairly sluggish rate of economic growth (due to ignoring other sectors such as health, housing, etc.). In 1991, responding to a financial crisis and to the desire for higher rates of economic growth, India began programme of economic reforms that opened doors for trade and FDI.

India and Resistance to Globalisation

Resistance to globalisation in India has come from political parties as well as through forums like the Indian Social Forum. Trade Unions of industrial workforce as well as those representing farmers interests have organised protests against the entry of multinationals. The patenting of certain plants like Neem by American and European firms has also generated considerable opposition.

IS BEING AN INTROVERT AWFUL ?

Above all else, let me clear out that one ought not get befuddled between the words “introvert” and “being shy”. An outgoing/ extrovert person can likewise feel timid here and there and that doesn’t imply that he/she is an introvert. An Introvert is a tranquil individual that doesn’t prefer to talk definitely and likes to remain quiet about their contemplations for the most part. They are somewhat individual that returns home just to unwind and have the opportunity to think. However, that doesn’t imply that a friendly individual can’t be a contemplative/introvert person. Similarly as they partake in the calm opportunity to get themselves, they’re probably a contemplative person somewhat. Being a contemplative person is regularly viewed as frail. They aren’t exactly on par with the social butterflies, who simply appear to float through life.

OPINION: Introverts still make great leaders – The Lancer Feed

However, that is false, there isn’t anything amiss with being a introvert. The primary issue is with society, which doesn’t see it similarly. Society has instructed us that being an introvert or thoughtful person is the most exceedingly terrible thing you can be and that everybody should need to be outgoing.

The Perks Of Being An Introvert | Writers Write

They are informed that being active is acceptable and being modest and calm is terrible. They are advised in schools to lift hands, take an interest in a class or we lose marks. For introverts, those are a portion of the exceptionally hard principles to accomplish. Insights say that half of Indian populace is comprised of introverts. So society is saying that 675 Million individuals need to change what their identity is to be acknowledged, to be effective and to be content. I’m additionally told this thing since youth that I should change myself and become a outgoing individual. Indeed, presently likewise my companions, educators and direct relations bother me as a bashful individual and they request that I go along with them in their discussion which I don’t need. Furthermore, some of the time it’s truly irritating.

How to Know If and Why You're an Extreme Introvert | SocialPro

Continuously recollect inside this enormous gathering of self observers are individuals like Emma Watson, Michael Jordan, Albert Einstein, Elton John, Audrey Hepburn thus a lot additional moving individuals. Being an Introvert has not prevented any of them from accomplishing their objectives or being cheerful. Pioneers like Abraham Lincoln, Rosa Parks and Mahatma Gandhi. Every inconceivable pioneer and all are introverts. Being a thoughtful/introvert person has no impact on how glad you or fruitful you will be the length of you see it in the correct manner. In the event that you consider yourself to be a thoughtful person and think its the most exceedingly awful thing on the planet, you are never going to be really content with yourself. In any case, in the event that you acknowledge yourself as a introvert and you’re cheerful, there isn’t anything in your method of you accomplishing your objectives.

Introverted Leadership
INTROVERT LEADERS

So in conclusion there is noting wrong in being an introvert. I am an introvert myself and I don’t feel like to change myself for the society and so should you. As long as you are happy others opinion doesn’t matter.

Also, in case you are an extrovert and you see an individual sitting at the side of your working environment simply contemplate what incredible thoughts he/she is coming up with.

In a World of Extroverts, What Does it Mean to Be an Introvert at School

RESOURCES:

https://timesofindia.indiatimes.com/readersblog/wakeup-india/is-being-an-introvert-bad-23079/

What is a short story?

A short story may be defined as a story that can be read in a single sitting. Edgar Allan Poe considered the short story as a prose narrative ‘requiring from half an hour to one or two horse in its perusal. Thus brevity is one of the essential characteristics of a short story. However, a short story is not Merely a novel on a reduced scale. the short story has a distinct, well-marked organizational structure different from that of a novel.

Theme of a short story:

Firstly, the theme of a short story must be one that can efficiently be developed within the prescribed limits. The story should impress the reader as clear in outline and well proportioned. It should not give the impression of crowding. This does not mean that the story must necessarily be confined to a single incident. It only means that even when the story covers a wide field of time and a large sequence of events, it should give a concentration of interest. Most of the stories of Maupassant and Washington Irving’s famous story “Rip Van Winkle” illustrate this point.

Unities of short stories:

Secondly, a short story should have unity which means unity of purpose, motive, action, and impression. a short story should contain only one informing idea and it should be worked out with singleness of purpose. No scattering of attention is allowed in a short story as it may be allowed in a novel.

Opinions of various authors:

Writers and critics hold different opinions on the art of the short story. Edgar Allan Poe thought that the short story should present only a ‘slice of life’ suggestively. it should have neither a beginning nor an end. However, the modern story writer and novelist Somerset Maugham thinks that ‘a short story should be a finished product of art with the beginning, middle, and end. another critic compares the short story with the horse race in which the start and the finish count most. Such contradictory definitions are more or less reconciled in what Hugh Walpole says “a short story should be a story, a record of things happening, full of instance an accident, Swift movement, unexpected development reacting through a suspense to a climax and satisfying denouement.”

Famous works:

A short story may deal with any motive and material. Poe’s story “Gold bug” turns on a puzzle whereas Stockton’s ‘The lady and the Tiger” is contrived to give a dramatic surprise at the end. Most stories of O’ Henry are interesting because of their unexpected surprise endings. Short stories of Chekhov, Maupassant, Tolstoy, and Hemingway illustrate the wide variety of themes and motives that can be successfully employed by a short story writer. WH Hudson says “a dramatic incident or situation; a telling scene; a closely coordinated series of events; a phase of character; a bit of experience; an aspect of life; a moral problem any of these, and innumerable other motives which might be added to the list, maybe made the nucleus of a thoroughly satisfactory story.

Conclusion:

R.L Stephenson speaks of three kinds of short stories – the story of the plot, the story of character, and the story of impression. however, to most story writers, the idea of a story comes as something like an abstract thought or impression and later they work it up into the shape of a story inventing the required plot, character, and incidents.

Traits of an Epic

The social novel