Free Online Public Schools for Ohio Students, K-12

Ohio offers resident students the opportunity to take online public school courses for free. This list shows some no-cost online schools serving elementary and high school students in Ohio as of May 2017. In order to qualify for the list, schools met the following qualifications: classes available completely online, they must offer services to state residents, and they must be government funded. The virtual schools listed may be charter schools, statewide public programs, or private programs that receive government funding. Ohio Connections Academy The mission of Ohio Connections Academy (OCA) is to partner â€Å"with families, students and educators to provide a high-quality and personalized online education that meets the individual needs of students and empowers them with the skills required for success in a changing world.† OCA offers a curriculum developed by leading education experts. Instructors have been deemed â€Å"highly qualified† by the state of Ohio. Ohio Connections Academy also prides itself on creating a well-rounded experience for students, with clubs and field trips, as well as personalized teacher-student attention. OCA maintains teaching centers in the Columbus, Cleveland, and Cincinnati areas. Ohio Virtual Academy The Ohio Virtual Academy (OVHA) uses the individualized K12 curriculum, which covers core subject areas and electives. Based on decades of research, K12 has been an established leader in online education throughout the United States, packaging curriculum with high-quality lessons and mastery-based assessments to ensure that students achieve success at every level. The supportive school community arranges enjoyable and helpful monthly get-togethers for students,  parents,  and staff to share their experiences.

Drinking Water Scarcity and Conservation Essay - 1820 Words

During times when many of us have our minds on matters conceivably much more critical than environmental ones, it is difficult to concentrate on the more mundane matters of clean drinking water and clean air. Unfortunately, while our nations attention seems fully consumed with the whereabouts of terrorists, water and air continues to be overused and/or contaminated. In reflecting on this odd state of affairs, we begin to understand how easily it is for us to forget about one of the basic necessities of humanity -- clean drinking water. Considering that water constitutes about 60 percent of our body weight, it is not surprising that it is a critical resource to human beings. (Even larger percentages of water are found various parts†¦show more content†¦More significant to us, 95 percent of the available fresh water in the United States is underground. Obviously then, assuming that we arent going to melt semi-permanent mountain or polar glaciers (something that would exacerbate global warming), the availability of this most important of human resources is restricted to that which we can obtain through extraction from underground or that which we can secure via reservoirs, lakes, etc. Water has been referred to as the most taken-for-granted resource. In almost every American home, if one wants water one only needs to turn the faucet. Something very significant belies this apparent overabundance of liquid water (H2O) in our surroundings. Namely, the vast majority of the water on the Earth isnt consumable by humans in its present form -- largely because it has way too much salt. In fact, even the water that isnt overly salty is tied-up in glaciers and thus not of much use to us in our daily rituals -- such as clothes washing and bathing. What is left to use then? Well, not very much, and that which is left is very unevenly distributed geographically and, thus, politically. Hence, the near future may be a time when nation states fight over water as much, or more so, than they now do oil. In our relatively recent history, there are many reasons to think that, as a resource, water is a serious political and human rights concern. Consider that 1 billion (1,000,000,000) people on EarthShow MoreRelatedDrinking Water Scarcity and Conservation Essay1809 Words   |  8 Pagesmost essential needs for survival, water along with other resources has become the victim of his indifference.†    --  Rachel Carson -- The water you see around you, flowing freely, sparkling in the noonday sun, quenching your thirst, bathing you, providing you with life is all limited - there is no place on this planet where new water springs up from a source. Water has been recycled by nature over and over again since time began. Our drinking water at one time or another was way up highRead MoreSpeech on save water save life762 Words   |  4 PagesSave water, save life Water is necessary for life. Water is needed for domestic, agricultural and industrial purposes. Three-fourth of Earth s surface is covered by water bodies. 97 per cent of this water is present in oceans as salt water and is unfit for human consumption. Fresh water accounts for only about 2.7 per cent. Nearly 70 per cent of this occurs as ice sheets and glaciers n Antarctica and other inaccessible places. Only one per cent of fresh water is available and fit for human useRead MoreWater Scarcity Problem Of Water1477 Words   |  6 PagesWater is everyone in the world and this is the major reason why many individuals never think about the limited supply of water. People presume that the water supply is infinite. The common saying â€Å"you do not know what you have until it is gone† rings true. Never having to worry about possessing fresh drinking water on a daily basis has caused many individuals to never question where the water is coming from or how much water is left. Due to the simple fact that water covers a majority of the earthRead MoreThe Scarcity of Water Essay96 6 Words   |  4 PagesThe procurability of potable water per capita is scarce and is currently diminishing worldwide. Scientific surveys estimate that the Earth’s surface is relatively seventy-one percent water and twenty-nine percent land. Unfortunately, a substantial amount of the seventy-one percent of water is salty and non-potable. Only about one percent of the available seventy-one percent can only be utilized for human consumption, without requiring initial desalinization. It has been predicted by the United NationsRead MoreSurvey on Water Scarcity Conservation1262 Words   |  6 PagesSurvey on Water Scarcity amp; Conservation Water is becoming a limited natural resource in the world. In an article published on National Geographic website about â€Å"Fresh Water Crisis† [1] it has mentioned that out of the 70% of water which is covering the earth, only 2.5% is suitable for drinking and just 1% of fresh water is easily accessible. In the same article the author talks about how people are wasting this limited resource. The growing scarcity of water is due to the rapid growth ofRead MoreWater Quality And Quantity Of Water898 Words   |  4 Pages Water Quality and Quantity Water quality focuses on the physical and chemical makeup of water samples (toxicity); water quantity speaks to availability of water (scarcity) for human needs and industry. Linking water quality and quantity is sustainability. An abundance of water does not necessarily ensure it can be safely consumed if it’s contaminated by sewage and/or industrial activities. In 2003, the United Nations (UN) created the inter-agency â€Å"mechanism, UN-Water, to identify water quality andRead MoreThe Crisis For Resource Scarcity1592 Words   |  7 PagesThe word scarcity, by definition means ‘to be in short supply’. A scarcity occurs when the demand for a product or good far outweighs the supply of that product or good. In my most humble, yet concerning opinion, I believe resource scarcity, such as water, to be one of the largest and vastly growing sustainability issues that we will face head-on in the coming decade, and decades thereafter. My summation is that globalization along with rapidly evolving technology, consumers are far too consumedRead MoreWater Scarcity Is A Global Concern1207 Words   |  5 PagesWater scarcity is a global concern, and that means there’s even a problem in our own backyard. While it may be difficult to put yourself in the shoes of an African child struggling to find fresh water, it’s important to understand that water scarcity affects everyone, even here in the United States. Water covers approximately seventy percent of the Earth surface, but less than one percent of that is available for human use. The world must share this small amount for agricultural, domesticRead MoreNotes On Water Supply Report1140 Words   |  5 PagesAssignment Title: Water Supply Report Student ID number: 28960 Date of submission: 4th January 2016 Word count: 1127 I. Introduction Water is an important source to survive, but some countries face a big issue with water scarcity, which has limited economical development, food production to meet the basic health and hygiene needs of the population (Neima B.) Having access to safe drinking water has many benefits, it helps in education, improves Health, and sickness is reduced, clean water also leadsRead MoreConserving Water Is Conserving Life. Earth Is Often Called1129 Words   |  5 PagesConserving Water is Conserving Life Earth is often called the â€Å"Blue Planet†, and rightfully so, since nearly 75 percent of the planet is covered with water. This may lead some to believe that conservation is not concerning or an important issue. What many do not realize is that only 3 percent of that 75 percent is freshwater, and less than one-third of the fresh water is in a form or location that is accessible for human consumption (American Museum of Natural History). Water conservation is an urgent

Mangroves and Their Importance Free Essays

Intro to Environmental Issues Mangroves And Their Disappearance 3/11/2013 Bsc Sem-II Submitted By: Ammal Afroze Submitted to: Mrs Almas Hamid Table Of Contents What are Mangroves? †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 2 Importance And Role Of Mangroves Ecosystem †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. We will write a custom essay sample on Mangroves and Their Importance or any similar topic only for you Order Now . 2,3 Disappearance Of Mangroves †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 3 Causes Of Disappearance Of Mangroves †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 3,4 Effects Of Disappearance Of Mangroves †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4 Present Condition Of Mangroves In Pakistan †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4,5 References †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. What is Mangrove? The term ‘mangrove’, is used to refer to the highly adapted plants found in tropical forest communities or the ecosystem itself. The term ‘mangrove’ may have been derived from a combination of the Malay word ‘manggi-manggi’, for a type of mangrove tree (Avicennia) and the Arabic ‘el gurm’, for the same, as ‘mang-gurm’. Mangrove is a tree or shrub that grows in muddy, chiefly tropical coastal swamps. Generally exceeding one half metre in height. Mangrove plants vary genetically and those found on land are not of same types. They are of different types. An increase in mangroves has been suggested for climate change mitigation. Big groups of mangroves and other plants are called mangrove swamps, mangrove forests, and sometimes simply manga. The mangrove community is the biotic part of our ecosystem. Importance And Role Of Mangrove Ecosystems: Mangroves are not only important but crucial for the coastal areas. The most important role of mangroves is that they protect vulnerable coastlines from waves because they hold the soil together and prevent coastal erosion. Mangroves shield inland areas during storms and minimize damage. Example: For example, learning from the 2005 tsunami in Asia, there were no deaths in the areas which had mangrove forests, compared to those areas without, which suffered massive causalities. Mangrove forests provide homes for several species of plants and animals. Migratory shorebirds and waders seek the mudflats for food. Birds establish large roosting and nesting sites in mangroves. Several species of fish, monkeys, and turtles find refuge there. The beaches along more mature undisturbed mangroves also serve as nesting sites for endangered sea turtles. Mangroves are fish nurseries as they serve as a source of food for fish and crabs that live in rivers and the shallow areas of the sea/ocean. And they provide a safe haven for juvenile fish, and crab located on coastline. Mangroves therefore contribute significantly in fishing industry and provide us with our fish resource. ACT AS A FILTERING SYSTEM They act as filtering systems for the run-off and ground waters, clarify adjacent open water, which facilitates photosynthesis in marine plants. Mangroves also help to control other forms of pollution, including excess amounts of nitrogen and phosphorous, petroleum products, and halogenated compounds. Mangroves stop these contaminants from polluting the ocean waters through a process called rhizofiltration. TRAP DEBRIS AND SILT Mangroves trap debris and silt contributing to soil formation and stabilizing the coastline. SERVE AS HABITAT Their roots provide shelter for many marine and terrestrial animals, protecting them from ocean currents and strong winds. Many threatened or endangered species reside inside. PRODUCE NUTRIENTS Mangroves shed a large amount of leaf litter, being dropped and then broken down by bacteria and fungi which is made available to the food chain of aquatic animals. Therefore mangroves contribute to productivity in off shore water. SERVE AS NURSERY AND REFUGE For many juvenile fish and invertebrates such as spiny lobster, gray snapper, jacks and barracuda. Mangroves are the nesting grounds for many water birds. Disappearance Of Mangroves: Mangrove forests are one of the world’s most threatened tropical ecosystems. More than 35% of the world’s mangroves are already gone. The figure is as high as 50% in countries such as India, the Philippines, and Vietnam, while in the Americas they are being cleared at a rate faster than tropical rainforests. 12 species of mangroves found in India are considered to be ‘Critically Endangered’ and a total of 57 mangrove and mangrove-associated species are considered threatened. The main reasons for the destruction in the area are mainly due to population pressure in and around the mangrove belts. Causes Of Disappearance Of Mangroves: * Mangroves are extremely sensitive to current rising sea levels caused by global warming and climate, Cyclones, typhoons and strong wave action. Insect such as Wood borers, Caterpillars, beetles eat the mangrove foliage and damage the wood. * Weeds often occupy deforested mangrove areas and restrict the re-growth of mangrove tree species. * Barnacles are a type of arthropod which when attached to young seedlings, interferes with respiration and photosynthesis and delays seed ling growth. Oysters, Crabs, Gastropods also damage the plant parts. * Mangrove trees are used for firewood, construction wood, pulp production, charcoal production, and animal fodder. While harvesting has taken place for centuries, in some parts of the world it is no longer sustainable, threatening the future of the forests. * Dams and irrigation reduces the amount of water reaching mangrove forests changing the salinity level of water in the forest. When salinity becomes too high the mangroves cannot survive. Freshwater diversions can also lead to mangroves drying out. * Pollution is the major problem in world. Toxic man-made chemicals carried by river systems from sources upstream can kill animals living in mangrove forests, while oil pollution can smother mangrove roots and suffocate the trees. Effects Of Mangroves Disappearance: Mangroves are saline coastal forests include heavy biomasses of trees and shrubs. Such forests are essential in protecting the coastal regions they surround from erosion, but they have also been shown to help mitigate the effects of tropical storms by buffering coastal communities against hurricane-like winds and tidal surges. * Widespread destruction of mangroves (Bahamas, Australia) has resulted in the loss of some of the world’s most diverse ecosystems. As a side effect his has greatly increased shoreline hazards and beach erosion rates. The greatest benefit of mangroves is their ability to reduce storm surge. This benefit is long-term and requires no maintenance. The 1999 super typhoon, Orissa, killed over 10,000 people in India drowning many with its powerful storm surge * The widespread destruction of Burma’s mangroves has magnified another human disaster in the wake of cyclone Nargis, a tragedy that might have claimed more than 100,000 lives, according to a news services’ estimates. Present Condition Of Mangroves In Pakistan Over 600,000 hectares of Pakistan’s coastline is under mangrove forestation. The coastal communities as well as the fisheries of the coast depend upon this ecosystem their existence is associated with its well-being. Mangroves historically have been considered to be wastelands. The vital flow of the Indus River into the Indus Delta, which constitutes one of the most extensive mangrove areas along the Pakistani coast, is heavily polluted by a variety of ndustrial effluents, sewage, solid waste and nutrient-enriched irrigation water. THE Indus delta mangroves are under the control of the Sindh forest department (280,470 ha), Port Qasim Authority (64,400 ha) and Sindh Board of Revenue (255,130 ha). The area under control of the forest department and Port Qasim is declared as `protected forest` and the area under the control of the Board of Revenue is classified as `government wasteland`. The Indus delta provides subsistence to approximat ely 200,000 people throughout the year. A recent study by WWF – Pakistan (2006) has estimated the existing cover of the Indus delta mangroves around 73,000 ha. Historically, there used to exist eight species of mangroves which have declined to four species at present. References: * www. mangrove. org * http://www. mangrovewatch. org. au * http://ocw. unu. edu * http://www. conservancy. org. hk * http://floridakeys. noaa. gov * http://whataremangroves. com/ * http://www. wwfpak. org/forest_mangrove. php * http://www. cssforum. com. pk/css-optional-subjects * www. pandas. org How to cite Mangroves and Their Importance, Essay examples

Components of Indian Financial System free essay sample

Economic growth and development of any country depends upon a well-knit financial system. Financial system comprises, a set of sub-systems of financial institutions financial markets, financial instruments and services which help in the formation of capital. Thus a financial system provides a mechanism by which savings are transformed into investments and it can be said that financial system play an significant role in economic growth of the country by mobilizing surplus funds and utilizing them effectively for productive purpose. The financial system is characterized by the presence of integrated, organized and regulated financial markets, and institutions that meet the short term and long term financial needs of both the household and corporate sector. Both financial markets and financial institutions play an important role in the financial system by rendering various financial services to the community. They operate in close combination with each other. Financial System The word system, in the term financial system, implies a set of complex and closely connected or interlined institutions, agents, practices, markets, transactions, claims, and liabilities in the economy. The financial system is concerned about money, credit and finance-the three terms are intimately related yet are somewhat different from each other. Indian financial system consists of financial market, financial instruments and financial intermediation Role/ Functions of Financial System: A financial system performs the following functions: It serves as a link between savers and investors. It helps in utilizing the mobilized savings of scattered savers in more efficient and effective manner. It channelises flow of saving into productive investment. * It assists in the selection of the projects to be financed and also reviews the performance of such projects periodically. * It provides payment mechanism for exchange of goods and services. * It provides a mechanism for the transfer of resources across geographic boundaries. * It provides a  mechanism for managing and controlling the risk involved in mobilizing savings and allocating credit. It promotes the process of capital formation by bringing together the supply of saving and the demand for investible funds. * It helps in lowering the cost of transaction and increase returns. Reduce cost motives people to save more. * It provides you detailed information to the operators/ players in the market such as individuals, business houses, Governments etc. Components/ Constituents of Indian Financial system: The following are the four main components of Indian Financial system 1. Financial institutions 2. Financial Markets 3. Financial Instruments/Assets/Securities 4. Financial Services. Financial institutions: Financial institutions are the intermediaries who facilitates smooth functioning of the financial system by making investors and borrowers meet. They mobilize savings of the surplus units and allocate them in productive activities promising a better rate of return. Financial institutions also provide services to entities seeking advises on various issues ranging from restructuring to diversification plans. They provide whole range of services to the entities who want to raise funds from the markets elsewhere. Financial institutions act as financial intermediaries because they act as middlemen between savers and borrowers. Were these financial institutions may be of Banking or Non-Banking institutions. Financial Markets: Finance is a prerequisite for modern business and financial institutions play a vital role in economic system. Its through financial markets the financial system of an economy works. The main functions of financial markets are: to facilitate creation and allocation of credit and liquidity; 2. to serve as intermediaries for mobilization of savings; 3. to assist process of balanced economic growth; 4. to provide financial convenience Financial Instruments Another important constituent of financial system is financial instruments. They represent a claim against the future income and wealth of others. It will be a claim against a person or an institutions, for the payment of the some of the money at a specified future date. Financial Services: Efficiency of emerging financial system largely depends upon the quality and variety of financial services provided by financial intermediaries. The term financial services can be defined as activites, benefits and satisfaction connected with sale of money, that offers to users and customers, financial related value. Pre-reforms Phase Until the early 1990s, the role of the financial system in India was primarily restricted to the function of channeling resources from the surplus to deficit sectors. Whereas the financial system performed this role reasonably well, its operations came to be marked by some serious deficiencies over the years. The banking sector suffered from lack of competition, low capital base, low Productivity and high intermediation cost. After the nationalization of large banks in 1969 and 1980, the Government-owned banks dominated the banking sector. The role of technology was minimal and the quality of service was not given adequate importance. Banks also did not follow proper risk management systems and the prudential standards were weak. All these resulted in poor asset quality and low profitability. Among non-banking financial intermediaries, development finance institutions (DFIs) operated in an over-protected environment with most of the funding coming from assured sources at concessional terms. In the insurance sector, there was little competition. The mutual fund industry also suffered from lack of competition and was dominated for long by one institution, viz. , the Unit Trust of India. Non-banking financial companies (NBFCs) grew rapidly, but there was no regulation of their asset side. Financial markets were characterized by control over pricing of financial assets, barriers to entry, high transaction costs and restrictions on movement of funds/participants between the market segments. This apart from inhibiting the development of the markets also affected their efficiency. Financial Sector Reforms in India It was in this backdrop that wide-ranging financial sector reforms in India were introduced as an integral part of the economic reforms initiated in the early 1990s with a view to improving the macroeconomic performance of the economy. The reforms in the financial sector focused on creating efficient and stable financial institutions and markets. The approach to financial sector reforms in India was one of gradual and non-disruptive progress through a consultative process. The Reserve Bank has been consistently working towards setting an enabling regulatory framework with prompt and effective supervision, development of technological and institutional infrastructure, as well as changing the interface with the market participants through a consultative process. Persistent efforts have been made towards adoption of international benchmarks as appropriate to Indian conditions. While certain changes in the legal infrastructure are yet to be effected, the developments so far have brought the Indian financial system closer to global standards. The reform of the interest regime constitutes an integral part of the financial sector reform. With the onset of financial sector reforms, the interest rate regime has been largely deregulated with a view towards better price discovery and efficient resource allocation. Initially, steps were taken to develop the domestic money market and freeing of the money market rates. The interest rates offered on Government securities were progressively raised so that the Government borrowing could be carried out at market-related rates. In respect of banks, a major effort was undertaken to simplify the administered structure of interest rates. Banks now have sufficient flexibility to decide their deposit and lending rate structures and manage their assets and liabilities accordingly. At present, apart from savings account and NRE deposit on the deposit side and export credit and small loans on the lending side, all other interest rates are deregulated. Indian banking system operated for a long time with high reserve requirements both in the form of Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR). This was a consequence of the high fiscal deficit and a high degree of monetisation of fiscal deficit. The efforts in the recent period have been to lower both the CRR and SLR. The statutory minimum of 25 per cent for SLR has already been reached, and while the Reserve Bank continues to pursue its medium-term objective of reducing the CRR to the statutory minimum level of 3. 0 per cent, the CRR of SCBs is currently placed at 5. 0 per cent of NDTL. As part of the reforms programme, due attention has been given to diversification of ownership leading to greater market accountability and improved efficiency. Initially, there was infusion of capital by the Government in public sector banks, which was followed by expanding the capital base with equity participation by the private investors. This was followed by a reduction in the Government shareholding in public sector banks to 51 per cent. Consequently, the share of the public sector banks in the aggregate assets of the banking sector has come down from 90 per cent in 1991 to around 75 per cent in2004. With a view to enhancing efficiency and productivity through competition, guidelines were laid down for establishment of new banks in the private sector and the foreign banks have been allowed more liberal entry. Since 1993, twelve new private sector banks have been set up. As a major step towards enhancing competition in the banking sector, foreign direct investment in the private sector banks is now allowed up to 74 per cent, subject to conformity with the guidelines issued from time to time. Conclusion: The Indian financial system has undergone structural transformation over the past decade. The financial sector has acquired strength, efficiency and stability by the combined effect of competition, regulatory measures, and policy environment. While competition, consolidation and convergence have been recognized as the key drivers of the banking sector in the coming years