Impact of globalisation on rural developmentThe uninterrupted flow of trade,capital ans technology across the world is commonly known as globalisation.In globalisation the world is considered as a whole big market.In 1991 when new industrial policy came into force globalisation started taking pace.

Just like a coin globalisation had two faces one good and one bad. This means that it had good impact as well as bad impact on the people of rural places.If we try to observe in a larger view globalisation was good as it had many good impacts like the world transformed into a single society but it also widened the gap between the rich and poor.Positive impacts of globalisation on rural area :-

1. Liberalisation of international trade and marketing of food and agricultural products.

2. standards of living increased in rich and poor families of urban as well as rural places

3. Increasing privatization like privatization of coal mines increased employment opportunities

4. Intensification of people as well as internal migration

5. Education quality developed and people from rural places started learning new skills

6. Many villages advanced and now they have advanced automated or semi automatic technologies, fertilizers etc.

7. globalisation provided better exposure to market goods hence quality of goods increased as well as proper price was providedWe can observe that globalisation developed our society ,our nation but in many ways it also ruined it.Negative impacts of globalisation on rural development :-

1. With globalisation many advanced technologies came into this nation which reduced manpower hence unemployment increased especially among unskilled labourers of the rural areas.

2. As many villages did not have proper transportation facilities, communication facilities many hinterlands never got chance to develop

3. With globalisation competition increased and local farmers could not compete with international quality and price hence their condition got worse.

4. not only farmers conditions of artisans also got worse as they could not compete

5.Many small industries of rural areas were shut down because of high level of competition and economical lossWe can still take steps to neutralize the negative impacts of globalisation om the rural area of this country which is predominantly rural and has major part of its income from these areas only.Steps that can be taken for neutralization are :-

1.steps luke ‘bharatnet’ should be taken in order to provide advanced information and technology to people living in rural areas.

2. Government,NGOs as well as private sector should join their hands to provide assets to rural areas and encourage entrepreneurship.

3. Government should impose some restrictions in MNCs before coming to indian market so that they dont affect small businesses

4. Low cost loans should be provided to small industries so that they get time to re-establish themselves and earn profit.

5. Proper rural urban transportation and communication facilities should be developed even in inaccessible areas so that they can also enter the market .

Types of Negotiable Instruments

The types of negotiable expand a lot. some of the very common ones are promissory notes, certificate of deposit , money orders etc.

Personal Checks:         

These checks can only be authorized by a person if they deposit money in the bank and clearly justify the sum of money and the name of the person to whom the cheque is addressed to with the name of the bearer of the check.

Advantages of Checks:

No cash is required and big amounts can be transferred hassle free.

If money gets lost it can’t be recovered but check transactions can be stopped from depositing, if lost.

Disadvantages of Personal Checks:

• Personal checks are not always taken easily everywhere.

In the fast pace world of technology checks are relatively sluggish and their processing takes time.

2. Travellers Check:             

Travellers checks are convenient for people who are in foreign countries for any of the following temporary situations such as vacations, work visits, trading etc. these checks can be used as an alternative for the respective foreign currency which makes the travel hassle free and reduces currency exchange which results in more following of the social distancing protocol.

“These checks are generally issues by financial institutions with serial no. and in prepaid fixed amounts”. A dual signature system is generally followed in which the signature of the buyer of the check has to sign at the time of issuing of the check and later another signature is required while using the check. The two signature are mandatory to match for the financial institutions to issue the check and guarantee the payment.

Advantages of Travellers:

• Hassle free and safe travel is enabled because no big amounts of money are carried around.
• The banks back up for most of the stolen or lost checks and even sometimes provide security money for the same.

Disadvantages of Travellers check:

• This whole system depends on the double signature system too much and as we understand that signatures can be easily forged it is not the most secure method to carry and transfer money.
• Debit and credit cards are a more convenient way nowadays compared to travellers checks.

3.Promissory Notes:

Promissory notes are handwritten promises between 2 parties. One party is the one liable to pay that is; payor and the other one is the receiver that is payee. These handwritten documents hold promises of the payor   to pay the payee a certain sum of the money in future. These notes also contain all the important aspects for a promise to be relevant. These information includes specified principle amount, interest rate, term length ,date of insurance and signature of the payor.

“These at first enables a person, people or a co operation to obtain financing from a source other than a bank or financial institution. Those who issue a promissory note become lenders.”

4. Money Order:

The holder of money orders are paid a promised amount as mentioned in the money order. These are available across easily and are generally issued by financial organisations and governments also. Money orders differ by the limit of amount of order that is typically One thousand Dollars.

These resemble checks but the main difference is that there is little personal detail mentioned in the money orders compared to checks.

5. Bill of exchange:

“A Bill of Exchange is a binding agreement by one party to pay a fixed amount of cash to another party as of a predetermined date or on demand”

These are basically used for international trade purposes. These have become more powerful.

To understand it in detail the following example is suitable:

If Mr. Varun orders Mr. Jatin to pay Rs.85000 for 60 days and Mr. Jatin signs his name to accept the order given by Mr. Varun then it is called a bill of exchange.

But sometimes due to financial inadequacy or different circumstances the seller and the purchaser cannot pay off immediately generally after which a promise is signed for future credit to be paid and this promise is drafted in a written format after which it turns into a legal instrument of value.

NOTE: “These instruments can often  be accepted by banks and we can advance money against them. Also, we can also endorse the instrument that is, pass it to another person.”

Features of Bill Of Exchange:

• “A bill of exchange is an instrument in writing”
• “It is drawn and signed by the maker i.e. drawer of the bill.”
• “It contains an unconditional order to a person i.e. drawee.”
• “To make an instrument of value the drawee must accept it.”
• “The specified amount is payable to the person whose name is mentioned in the bill or to his order or to the bearer.”
• “It specifies the date by which amount should be paid.”
• “Payment of the bill must be in the legal currency of the country.”
• “It must be properly stamped”.
• “It must bear a revenue stamp”.

5. Post Dated Cheque:

The case is currently being heard by the International Court of Justice(ICJ).

BACKGROUND: The Rohingya people are a group of ethnic(Muslim Indo-Aryan) minority in the Buddhist majority.In the recent years they have been facing procedural ethnic cleansing and prosecution at a mass level. it has also been described as genocide.The genocide followed for more than 2 years with decades of prosecution on the Rohingya people which included mass murders,destruction of villages,rapes and various other heinous crimes undertaken by the millitary of Myanmar.

Mostly restricted to the Rakhine state (where the Rohingya are largely settled) and done under the
garb of “anti-terrorism measures”.
With the general support of the public. (John Oliver did a segment on how “free” Facebook
contributed to the genocide.

What does genocide mean?

According to the Article 2 genocide means comitting any of the follwoing acts:

• Causing serious bodily harm to a group.
• Deliberately inflicting on the group conditions of life calculated to bring about its physical destruction in whole or in part.
• Killing members of the group
• Imposing measures intended to prevent births within the group.
• Forcibly transferring children of one group to another group.

Article 6 of Rome Statute of International Criminal Court: For the purpose of
this Statute, “genocide” means any of the following acts committed with intent to
destroy, in whole or in part, a national, ethical, racial or religious group, as such:
(a) Killing members of the group; (b) Causing serious bodily or mental
harm to members of the group; (c) Deliberately inflicting on the group
conditions of life calculated to bring about its physical destruction in whole or in
part; (d) Imposing measures intended to prevent births within the group;
(e) Forcibly transferring children of the group to another group.