"A Project is a temporary endeavor with a defined beginning and end (usually time-constrained, and often constrained by funding or deliverables), undertaken to meet unique goals and objectives, typically to bring about beneficial change or added value."- Wikipedia.
Actually, a project refers to a set of development measures undertaken either by an individual or by the Government for the benefit of a class of persons or for the community as a whole [e. g. utilizing water resources of a region for the benefit of the population through irrigation, flood control, fishing, power generation, etc.]
Under the ongoing facts and circumstances hitting all of the economies big or small the crucial requirement is there to ensure that the projects taken to boost up activities [call it stimulus or jump start] should be specific, measurable, achievable, realistic and time bound, which, in turn, should be evaluated and accordingly reviewed as the situation warrants.
Since a project usually involves huge expenditure private efforts often prove to be inadequate to shoulder it. Hence State's participation becomes essential .The State has to shoulder the responsibility by undertaking projects of social /strategic importance. A Project is therefore a public investment where profit maximization cannot be the sole criterion. A public investment aims at rendering maximum social service by maximizing the benefit of the project concerned at minimum possible cost to undertake those projects which facilitate the progress of the entire economy.
As it is not possible to undertake a huge number of projects at a time the question of choice whether or not a particular project is worthwhile which is the best of several alternative projects or when to undertake a particular project - comes up before the decision makers Different criteria of project evaluation are used for the same 1) the benefit-cost criterion, 2) the rate of return criterion, 3) the maximization of benefit over cost criterion.
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'Deep Fake' - an emerging risk for Banking & Financial Sector
Deepfake KYC fraud is a growing concern in India, where fraudsters leverage AI-generated deepfake videos and images to bypass Know-Your-Customer (KYC) verification processes. This has significant implications for financial institutions, fintech companies, and other organizations that rely on KYC to verify the identity of their customers.
RBI CIRCULAR
Operational framework for reclassification of Foreign Portfolio Investment to Foreign Direct Investment (FDI) - November 11, 2024
India's Fiscal Discipline: A Path to Economic Stability and Growth
In a significant economic development, the fiscal deficit for the financial year 2023-2024 (FY24) has been recorded at 5.6% of GDP, falling below the government's revised estimate. This unexpected positive outcome highlights effective fiscal management and a recovering economy, offering a ray of optimism amidst global economic uncertainties.
Augmenting Productivity by Embracing Employee Engagement
As the world's largest coffeehouse chain, Starbucks is a brand that understands the value its employees add to the business. At Starbucks, every employee knows they are valued members of the team. It took Starbucks some time to do this. They have prioritized implementing employee-friendly rules from the beginning.
Ethics in Artificial Intelligence: Navigating the Future Responsibly
Ethics in AI encompasses a wide range of issues, including fairness, accountability, transparency, and the potential for bias. At the core of these discussions lies the question: How do we ensure that AI serves humanity rather than undermines it? As AI systems increasingly influence critical areas such as healthcare, finance, and law enforcement, the stakes are high.
Digital Banking: The Need of the Hour
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Cyber Crimes in Banking: India's Battle Against the Digital Menace
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Legal News
The Supreme Court (SC) ruled that clauses allowing public sector undertakings (PSUs) to unilaterally appoint arbitrators to resolve disputes with private contractors are invalid.
The Rise Of Green Marketing: Driving Sustainable Change
Green marketing refers to the practice of promoting products or services that are environmentally friendly or sustainable. It involves incorporating eco-friendly elements into various aspects of marketing strategies, including product development, packaging, advertising, and distribution.
ICICI Bank partners with PhonePe to offer instant credit on UPI
ICICI Bank announced that it has partnered with PhonePe to offer instant credit on UPI to its pre-approved customers on the app of the digital payments company.
