The state of being miserable, bereft of all possessions ?->(Show Answer!)

1. The state of being miserable, bereft of all possessions

Answer: Destitute

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MCQ-> Read the following passage and provide appropriate answers for the questionsThere is an essential and irreducible ‘duality’ in the normative conceptualization of an individual person. We can see the person in terms of his or her ‘agency’, recognizing and respecting his or her ability to form goals, commitments, values, etc., and we can also see the person in terms of his or her ‘well-being’. This dichotomy is lost in a model of exclusively self- interested motivation, in which a person’s agency must be entirely geared to his or her own well-being. But once that straitjacket of self-interested motivation is removed, it becomes possible to recognize the indisputable fact that the person’s agency can well be geared to considerations not covered - or at least not fully covered - by his or her own well-being. Agency may be seen as important (not just instrumentally for the pursuit of well-being, but also intrinsically), but that still leaves open the question as to how that agency is to be evaluated and appraised. Even though the use of one’s agency is a matter for oneself to judge, the need for careful assessment of aims, objective, allegiances, etc., and the conception of the good, may be important and exacting. To recognize the distinction between the ‘agency aspect’ and the ‘well-being aspect’ of a person does not require us to take the view that the person’s success as an agent must be independent, or completely separable from, his or her success in terms of well-being. A person may well feel happier and better off as a result of achieving what he or she wanted to achieve - perhaps for his or her family, or community, or class, or party, or some other cause. Also it is quite possible that a person’s well-being will go down as a result of frustration if there is some failure to achieve what he or she wanted to achieve as an agent, even though those achievements are not directly concerned with his or her well-being. There is really no sound basis for demanding that the agency aspect and the well-being aspect of a person should be independent of each other, and it is, I suppose, even possible that every change in one will affect the other as well. However, the point at issue is not the plausibility of their independence, but the sustainability and relevance of the distinction. The fact that two variables may be so related that one cannot change without the other, does not imply that they are the same variable, or that they will have the same values, or that the value of one can be obtained from the other on basis of some simple transformation. The importance of an agency achievement does not rest entirely on the enhancement of well-being that it may indirectly cause. The agency achievement and well-being achievement, both of which have some distinct importance, may be casually linked with each other, but this fact does not compromise the specific importance of either. In so far as utility - based welfare calculations concentrate only on the well- being of the person, ignoring the agency aspect, or actually fails to distinguish between the agency aspect and well-being aspect altogether, something of real importance is lost.According to the ideas in the passage, the following are not true expect:
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MCQ-> Read the following passage carefully and answer the questions given at the end.Passage 4Public sector banks (PSBs) are pulling back on credit disbursement to lower rated companies, as they keep a closer watch on using their own scarce capital and the banking regulator heightens its scrutiny on loans being sanctioned. Bankers say the Reserve Bank of India has started strictly monitoring how banks are utilizing their capital. Any big-ticket loan to lower rated companies is being questioned. Almost all large public sector banks that reported their first quarter results so far have showed a contraction in credit disbursal on a year-to-date basis, as most banks have shifted to a strategy of lending largely to government-owned "Navratna" companies and highly rated private sector companies. On a sequential basis too, banks have grown their loan book at an anaemic rate.To be sure, in the first quarter, loan demand is not quite robust. However, in the first quarter last year, banks had healthier loan growth on a sequential basis than this year. The country's largest lender State Bank of India grew its loan book at only 1.21% quarter-on-quarter. Meanwhile, Bank of Baroda and Punjab National Bank shrank their loan book by 1.97% and 0.66% respectively in the first quarter on a sequential basis.Last year, State Bank of India had seen sequential loan growth of 3.37%, while Bank of Baroda had seen a smaller contraction of 0.22%. Punjab National Bank had seen a growth of 0.46% in loan book between the January-March and April-June quarters last year. On a year-to-date basis, SBI's credit growth fell more than 2%, Bank of Baroda's credit growth contracted 4.71% and Bank of India's credit growth shrank about 3%. SBI chief Arundhati Bhattacharya said the bank's year-to-date credit growth fell as the bank focused on ‘A’ rated customers. About 90% of the loans in the quarter were given to high-rated companies. "Part of this was a conscious decision and part of it is because we actually did not get good fresh proposals in the quarter," Bhattacharya said.According to bankers, while part of the credit contraction is due to the economic slowdown, capital constraints and reluctance to take on excessive risk has also played a role. "Most of the PSU banks are facing pressure on capital adequacy. It is challenging to maintain 9% core capital adequacy. The pressure on monitoring capital adequacy and maintaining capital buffer is so strict that you cannot grow aggressively," said Rupa Rege Nitsure, chief economist at Bank of Baroda.Nitsure said capital conservation pressures will substantially cut down "irrational expansion of loans" in some smaller banks, which used to grow at a rate much higher than the industry average. The companies coming to banks, in turn, will have to make themselves more creditworthy for banks to lend. "The conservation of capital is going to inculcate a lot of discipline in both banks and borrowers," she said.For every loan that a bank disburses, some amount of money is required to be set aside as provision. Lower the credit rating of the company, riskier the loan is perceived to be. Thus, the bank is required to set aside more capital for a lower rated company than what it otherwise would do for a higher rated client. New international accounting norms, known as Basel III norms, require banks to maintain higher capital and higher liquidity. They also require a bank to set aside "buffer" capital to meet contingencies. As per the norms, a bank's total capital adequacy ratio should be 12% at any time, in which tier-I, or the core capital, should be at 9%. Capital adequacy is calculated by dividing total capital by risk-weighted assets. If the loans have been given to lower rated companies, risk weight goes up and capital adequacy falls.According to bankers, all loan decisions are now being assessed on the basis of the capital that needs to be set aside as provision against the loan and as a result, loans to lower rated companies are being avoided. According to a senior banker with a public sector bank, the capital adequacy situation is so precarious in some banks that if the risk weight increases a few basis points, the proposal gets cancelled. The banker did not wish to be named. One basis point is one hundredth of a percentage point. Bankers add that the Reserve Bank of India has also started strictly monitoring how banks are utilising their capital. Any big-ticket loan to lower rated companies is being questioned.In this scenario, banks are looking for safe bets, even if it means that profitability is being compromised. "About 25% of our loans this quarter was given to Navratna companies, who pay at base rate. This resulted in contraction of our net interest margin (NIM)," said Bank of India chairperson V.R. Iyer, while discussing the bank's first quarter results with the media. Bank of India's NIM, or the difference between yields on advances and cost of deposits, a key gauge of profitability, fell in the first quarter to 2.45% from 3.07% a year ago, as the bank focused on lending to highly rated customers.Analysts, however, say the strategy being followed by banks is short-sighted. "A high rated client will take loans at base rate and will not give any fee income to a bank. A bank will never be profitable that way. Besides, there are only so many PSU companies to chase. All banks cannot be chasing them all at a time. Fact is, the banks are badly hit by NPA and are afraid to lend now to big projects. They need capital, true, but they have become risk-averse," said a senior analyst with a local brokerage who did not wish to be named.Various estimates suggest that Indian banks would require more than Rs. 2 trillion of additional capital to have this kind of capital adequacy ratio by 2019. The central government, which owns the majority share of these banks, has been cutting down on its commitment to recapitalize the banks. In 2013-14, the government infused Rs. 14,000 crore in its banks. However, in 2014-15, the government will infuse just Rs. 11,200 crore.Which of the following statements is correct according to the passage?
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MCQ-> Answer questions on the basis of the following conversation between two friends, Paradox (P) and Herodox (H) P: The human body is but the tomb of the soul and the visible world of matter is appearance that must be overcome if we are to know reality. The former is an integral part of “being”, that which can neither come into existence nor cease to exist for it always is. Being is unmoved and undistributed. Motion and disturbance belong to the realm of “becoming”, the changing world of unreality rather than of “being” in which true reality resides. Further, motion & change by belonging to the realm of “becoming” by having no separate existence of their own are logically inconsistent with reality and hence, unworthy of serious study.H: All things are in a state of perpetual flux. Permanence, and by extension, the concept of “being” is only an illusion. This change and continual transformation, through an often disorderly process of conflict and survival of the fittest, is the underlying principle at work in the universe. It is from this principle that all things come into existence, and forms the basis for the morals and governance patterns that attempt to preserve the social thread of societies. By extension, the study of human activity through the lens of an idealized state of “being” and as a basis for formulating moral codes of conduct is inappropriate at best.Which of the following statements could be considered as logically consistent with the views of paradox in the above paragraphs? i. A fly travelling on a flying arrow perceives it to be at rest. Therefore the flying arrow belongs to the realm of being. ii. The activities of the day to day life are concerned with the unreal part of human existence and hence, should not be subject to moral standards. iii. Maintaining a balance among the various constituents of society is essential to the well - being and the continuing existence of the soul. iv. Conflicts and the coming of spontaneous order do not have any underlying causes that are relevant for study as the notion of perpetual flux itself is erroneous. v. The real is and cannot be non - existent. Further, reality is one and unique....

MCQ-> Since World War II, the nation-state has been regarded with approval by every political system and every ideology. In the name of modernisation in the West, of socialism in the Eastern bloc, and of development in the Third World, it was expected to guarantee the happiness of individuals as citizens and of peoples as societies. However, the state today appears to have broken down in many parts of the world. It has failed to guarantee either security or social justice, and has been unable to prevent either international wars or civil wars. Disturbed by the claims of communities within it, the nation-state tries to repress their demands and to proclaim itself as the only guarantor of security of all. In the name of national unity, territorial integrity, equality of all its citizens and non-partisan secularism, the state can use its powerful resources to reject the demands of the communities; it may even go so far as genocide to ensure that order prevails.As one observes the awakening of communities in different parts of the world, one cannot ignore the context in which identity issues arise. It is no longer a context of sealed frontiers and isolated regions but is one of integrated global systems. In a reaction to this trend towards globalisation, individuals and communities everywhere are voicing their desire to exist, to use their power of creation and to play an active part in national and international life.There are two ways in which the current upsurge in demands for the recognition of identities can be looked at. On the positive side, the efforts by certain population groups to assert their identity can be regarded as "liberation movements", challenging oppression and injustice. What these groups are doing - proclaiming that they are different, rediscovering the roots of their culture or strengthening group solidarity - may accordingly be seen as legitimate attempts to escape from their state of subjugation and enjoy a certain measure of dignity. On the downside, however, militant action for recognition tends to make such groups more deeply entrenched in their attitude and to make their cultural compartments even more watertight. The assertion of identity then starts turning into self-absorption and isolation, and is liable to slide into intolerance of others and towards ideas of "ethnic cleansing", xenophobia and violence.Whereas continuous variations among peoples prevent drawing of clear dividing lines between the groups, those militating for recognition of their group's identity arbitrarily choose a limited number of criteria such as religion, language, skin colour, and place of origin so that their members recognise themselves primarily in terms of the labels attached to the group whose existence is being asserted. This distinction between the group in question and other groups is established by simplifying the feature selected. Simplification also works by transforming groups into essences, abstractions endowed with the capacity to remain unchanged through time. In some cases, people actually act as though the group has remained unchanged and talk, for example, about the history of nations and communities as if these entities survived for centuries without changing, with the same ways of acting and thinking, the same desires, anxieties, and aspirations. Paradoxically, precisely because identity represents a simplifying fiction, creating uniform groups out of disparate people, that identity performs a cognitive function. It enables us to put names to ourselves and others, form some idea of who we are and who others are, and ascertain the place we occupy along with the others in the world and society. The current upsurge to assert the identity of groups can thus be partly explained by the cognitive function performed by identity. However, that said, people would not go along as they do, often in large numbers, with the propositions put to them, in spite of the sacrifices they entail, if there was not a very strong feeling of need for identity, a need to take stock of things and know "who we are", "where we come from", and "where we are going".Identity is thus a necessity in a constantly changing world, but it can also be a potent source of' violence and disruption. How can these two contradictory aspects of identity be reconciled? First, we must bear the arbitrary nature of identity categories in mind, not with a view to eliminating all forms of identification—which would be unrealistic since identity is a cognitive necessity—but simply to remind ourselves that each of us has several identities at the same time. Second, since tears of nostalgia are being shed over the past, we recognise that culture is constantly being recreated by cobbling together fresh and original elements and counter-cultures. There are in our own country a large number of syncretic cults wherein modern elements are blended with traditional values or people of different communities venerate saints or divinities of particular faiths. Such cults and movements are characterised by a continual inflow and outflow of members which prevent them from taking on a self-perpetuating existence of their own and hold out hope for the future, indeed, perhaps for the only possible future. Finally, the nation-state must respond to the identity urges of its constituent communities and to their legitimate quest for security and social justice. It must do so by inventing what the French philosopher and sociologist, Raymond Aron, called "peace through law". That would guarantee justice both to the state as a whole and its parts, and respect the claims of both reason and emotions. The problem is one of reconciling nationalist demands with the exercise of democracy.According to the author, happiness of individuals was expected to be guaranteed in the name of:
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MCQ-> I want to stress this personal helplessness we are all stricken with in the face of a system that has passed beyond our knowledge and control. To bring it nearer home, I propose that we switch off from the big things like empires and their wars to more familiar little things. Take pins for example! I do not know why it is that I so seldom use a pin when my wife cannot get on without boxes of them at hand; but it is so; and I will therefore take pins as being for some reason specially important to women.There was a time when pinmakers would buy the material; shape it; make the head and the point; ornament it; and take it to the market, and sell it and the making required skill in several operations. They not only knew how the thing was done from beginning to end, but could do it all by themselves. But they could not afford to sell you a paper of pins for the farthing. Pins cost so much that a woman's dress allowance was calling pin money.By the end of the 18th century Adam Smith boasted that it took 18 men to make a pin, each man doing a little bit of the job and passing the pin on to the next, and none of them being able to make a whole pin or to buy the materials or to sell it when it was made. The most you could say for them was that at least they had some idea of how it was made, though they could not make it. Now as this meant that they were clearly less capable and knowledgeable men than the old pin-makers, you may ask why Adam Smith boasted of it as a triumph of civilisation when its effect had so clearly a degrading effect. The reason was that by setting each man to do just one little bit of the work and nothing but that, over and over again, he became very quick at it. The men, it is said, could turn out nearly 5000 pins a day each; and thus pins became plentiful and cheap. The country was supposed to be richer because it had more pins, though it had turned capable men into mere machines doing their work without intelligence and being fed by the spare food of the capitalist just as an engine is fed with coals and oil. That was why the poet Goldsmith, who was a farsighted economist as well as a poet, complained that 'wealth accumulates, and men decay'.Nowadays Adam Smith's 18 men are as extinct as the diplodocus. The 18 flesh-and-blood men have been replaced by machines of steel which spout out pins by the hundred million. Even sticking them into pink papers is done by machinery. The result is that with the exception of a few people who design the machines, nobody knows how to make a pin or how a pin is made: that is to say, the modern worker in pin manufacture need not be one-tenth so intelligent, skilful and accomplished as the old pinmaker; and the only compensation we have for this deterioration is that pins are so cheap that a single pin has no expressible value at all. Even with a big profit stuck on to the cost-price you can buy dozens for a farthing; and pins are so recklessly thrown away and wasted that verses have to be written to persuade children (without success) that it is a sin to steal, if even it’s a pin.Many serious thinkers, like John Ruskin and William Morris, have been greatly troubled by this, just as Goldsmith was, and have asked whether we really believe that it is an advance in wealth to lose our skill and degrade our workers for the sake of being able to waste pins by the ton. We shall see later on, when we come to consider the Distribution of Leisure, that the cure for this is not to go back to the old free for higher work than pin-making or the like. But in the meantime the fact remains that the workers are now not able to make anything themselves even in little bits. They are ignorant and helpless, and cannot lift their finger to begin their day's work until it has all been arranged for them by their employer's who themselves do not understand the machines they buy, and simply pay other people to set them going by carrying out the machine maker's directions.The same is true for clothes. Earlier the whole work of making clothes, from the shearing of the sheep to the turning out of the finished and washed garment ready to put on, had to be done in the country by the men and women of the household, especially the women; so that to this day an unmarried woman is called a spinster. Nowadays nothing is left of all this but the sheep shearing; and even that, like the milking of cows, is being done by machinery, as the sewing is. Give a woman a sheep today and ask her to produce a woollen dress for you; and not only will she be quite unable to do it, but you are likely to find that she is not even aware of any connection between sheep and clothes. When she gets her clothes, which she does by buying them at the shop, she knows that there is a difference between wool and cotton and silk, between flannel and merino, perhaps even between stockinet and other wefts; but as to how they are made, or what they are made of, or how they came to be in the shop ready for her to buy, she knows hardly anything. And the shop assistant from whom she buys is no wiser. The people engaged in the making of them know even less; for many of them are too poor to have much choice of materials when they buy their own clothes.Thus the capitalist system has produced an almost universal ignorance of how things are made and done, whilst at the same time it has caused them to be made and done on a gigantic scale. We have to buy books and encyclopaedias to find out what it is we are doing all day; and as the books are written by people who are not doing it, and who get their information from other books, what they tell us is twenty to fifty years out of date knowledge and almost impractical today. And of course most of us are too tired of our work when we come home to want to read about it; what we need is cinema to take our minds off it and feel our imagination.It is a funny place, this word of capitalism, with its astonishing spread of education and enlightenment. There stand the thousands of property owners and the millions of wage workers, none of them able to make anything, none of them knowing what to do until somebody tells them, none of them having the least notion of how it is made that they find people paying them money, and things in the shops to buy with it. And when they travel they are surprised to find that savages and Esquimaux and villagers who have to make everything for themselves are more intelligent and resourceful! The wonder would be if they were anything else. We should die of idiocy through disuse of our mental faculties if we did not fill our heads with romantic nonsense out of illustrated newspapers and novels and plays and films. Such stuff keeps us alive, but it falsifies everything for us so absurdly that it leaves us more or less dangerous lunatics in the real world.Excuse my going on like this; but as I am a writer of books and plays myself, I know the folly and peril of it better than you do. And when I see that this moment of our utmost ignorance and helplessness, delusion and folly, has been stumbled on by the blind forces of capitalism as the moment for giving votes to everybody, so that the few wise women are hopelessly overruled by the thousands whose political minds, as far as they can be said to have any political minds at all, have been formed in the cinema, I realise that I had better stop writing plays for a while to discuss political and social realities in this book with those who are intelligent enough to listen to me.A suitable title to the passage would be
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