Volume 3 | Issue 4 |

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Aggalada Sati Duggale

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Aggalada Sati Duggale

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Summary of the Study (as of 2015) The study titled "A Study of Credit Enhancement Mechanisms and Their Role in Strengthening the Indian Debt Market" explores the evolution, application, and policy relevance of credit enhancement tools in India up to the year 2014. The research underscores how credit enhancement, through partial guarantees, over-collateralization, and third-party support, emerged as a critical mechanism to improve investor confidence, deepen the corporate bond market, and mobilize long-term capital for infrastructure and industrial development. Beginning with the context of India's underdeveloped debt market, dominated by government securities and characterized by limited corporate bond activity, the paper traces the gradual policy focus on broadening access to credit markets. It highlights that despite India's large savings pool, weak credit perception and limited market liquidity restricted corporate issuers from efficiently tapping the bond market. The introduction of Partial Credit Enhancement (PCE) by the Reserve Bank of India in 2012 and subsequent reforms by SEBI and the Ministry of Finance marked an important step toward risk-sharing and institutional participation. The conceptual framework defines credit enhancement as a mechanism that raises the credit profile of a bond without altering its fundamental cash flows. It differentiates between internal and external enhancement techniques, ranging from tranching and reserve funds to guarantees and insurance, and situates these within the broader theory of credit risk management. The Indian experience, as analyzed in the study, reveals that while a few infrastructure and corporate bonds, such as those by L&T Infrastructure Finance and IRFC, successfully employed credit enhancement, the overall penetration of such instruments remained limited due to capital constraints among banks, regulatory uncertainties, and the nascent secondary market. Empirical findings indicate that the use of credit enhancement improved credit ratings, reduced borrowing costs, and attracted long-term investors such as pension funds and insurance companies. However, by 2014, only a small number of issues had benefited from these instruments, primarily in the infrastructure sector. The paper concludes that credit enhancement has strong potential to strengthen India's debt market by bridging the gap between investor caution and issuer risk profiles. It recommends expanding institutional capacity for guarantees, promoting transparent rating practices, encouraging securitization and tranching, and harmonizing regulatory policies. As of 2015, the study views credit enhancement not as a short-term market innovation, but as a long-term structural tool essential for transforming India's debt market into a robust channel for infrastructure and corporate financing.

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Credit Enhancement, Partial Credit Enhancement, Corporate Bond Market, Indian Debt Market, Infrastructure Financing, Credit Risk Mitigation, Financial Guarantees, RBI Framework 2012, SEBI Guidelines, Ministry of Finance Reforms, IIFCL Partial Guarantee Scheme, Credit Rating Improvement, Institutional Investors, Pension Funds, Insurance Companies, Market Liquidity, Bond Pricing, Over-Collateralization, Tranching, Securitization, Reserve Funds, External Guarantees, Credit Guarantee Institutions, R

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Indian diaspora literature is rich with narratives of identity, nostalgia, adaptation, and cultural survival. Among the most prominent symbols of diasporic memory and resistance are food, festivals, and traditional cultural practices. These elements serve as powerful conduits for sustaining ethnic identity and transmitting heritage across generations. This paper explores how Indian diaspora authors use these cultural markers to portray the complexities of belonging and alienation in host cultures. Through close readings of selected works by writers such as Jhumpa Lahiri, Chitra Banerjee Divakaruni, Salman Rushdie, and Monica Ali, this paper demonstrates how food becomes a metaphor for memory and assimilation, festivals symbolize resistance and unity, and traditional rituals reflect tensions between preservation and adaptation. Drawing on diaspora theory and postcolonial frameworks, the paper argues that these cultural expressions not only resist erasure but also help construct hybrid identities in multicultural societies. Ultimately, Indian diaspora literature reclaims cultural memory through the intimate and public enactment of rituals that bind the past to the present.

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The Role of Food, Festivals, and Cultural Practices in Indian Diaspora Literature

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Swami Vivekananda is one of the greatest nationalist and spiritual leaders of our country. His nationalism is based on spiritualism. He witnessed the exploitations based on cruelty by the British and tried to encourage his brothers and sisters of India to enlighten themselves with the divinity and power already in them. The very edifice of Indian nationalism is constructed on the ideal of universal brotherhood. He urged upon them to be spiritually strong enough and cherish the divinity of love and universal brotherhood.

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Gurudeva, Nationalism, Spiritualism, Political, Freedom, Motherland

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How can we efficiently perform inference and learning in directed probabilistic models when dealing with continuous latent variables and intractable posterior distributions, especially with large datasets? We propose a stochastic variational inference and learning algorithm that can handle large datasets and, under certain mild differentiability conditions, can even address intractable cases. Our contributions are twofold. First, we demonstrate that by reparameterizing the variational lower bound, we obtain a lower bound estimator that can be easily optimized using standard stochastic gradient methods. Second, we show that for independent and identically distributed (i.i.d.) datasets with continuous latent variables for each data point, posterior inference becomes particularly efficient by fitting an approximate inference model (or recognition model) to the intractable posterior using the proposed lower bound estimator. The theoretical benefits are supported by experimental results.

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Variational Bayesian Methods for Learning Autoencoders

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This paper introduces a hybrid system controller that integrates a fuzzy logic controller with the vector-control method for induction motors. Instead of a conventional Proportional-Integral (PI) controller, the vector-control approach has been enhanced using a fuzzy logic controller. This hybrid controller leverages the advantages of both techniques--fuzzy logic ensures high-quality regulation, while vector control provides system stability during transient conditions and supports a broad operating range. The effectiveness of the hybrid controller has been evaluated through simulations. A comparative analysis between the proposed fuzzy logic controller and the traditional PI controller under both no-load and varying load conditions highlights its superior robustness and efficiency in achieving high-performance induction motor drive systems.

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Indirect Vector Control, Fuzzy Logic Control, Adaptive Speed Control, Hybrid Motor Drive, Robust Control Techniques.

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Interactions with technology have been shaping human society since its beginning. Recently, digitalization has pervaded all aspects of our lives and provided us with new ways to communicate with our social contacts and develop new social ties. We address how these changes shape the social lives of children between the age group 15-20 years today. Several factors may give rise to concerns that adolescent students today are at risk for social isolation, including demographic trends toward families, or reduction of regular activities due to lack of concentration. In today's scenario what are the effects of digitization on adolescent students, is reviewed here. At the same time, these students today have access to new technologies that may enable them to consume of huge information for their knowledge and overcome all barriers. First, based on models of technology adoption, we review research on digital technology used by adolescents. They use technology at very high rates than any other age groups; rates of (social) internet use are increasing. However, socio-demographic disparities exist in access to technology. Second, we focus on two key questions and methodological directions for future research: (a) Does (social) internet use contribute to more positive or negative social experiences? (b) Do digital technologies reshape the social experience or do they reinforce existing preferences and behaviors? Addressing these questions will allow us to understand the effects of technology on adolescent's daily lives and how this in turn affects multiple domains of functioning (e.g., well-being, physical health) in future generations.

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Adolescent, socio-demographic, digital technology.

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The recruitment and selection landscape, therefore, has been the most transformed in recent decades due to changes in advancements in technology, globalization, and changing workforce expectations. This review paper gives a holistic summary of the developments of the recruitment and selection practice overtime, focusing on key trends and challenges identified up to 2015. From its traditional methods like newspaper adverts, in-person applications, and manual screening of applicants, recruitment practices have, over time, transitioned into more technological ways of Applicant Tracking Systems (ATS), online job portals, and social media, LinkedIn, among others. These innovations have been efficient and have opened wider talent pools, but it has also brought about a host of complexities, like data privacy concerns and algorithmic biases. The paper also points out the increased focus on employer branding, diversity, and inclusion, which is a shift towards a more candidate-centric hiring environment. Behavioural assessments and psychometric tests have become prominent, providing a more in-depth understanding of candidate potential beyond academic qualifications and work experience. The rise of the gig economy has also transformed recruitment, accommodating short-term and freelance roles. However, challenges still exist, such as fairness in automated systems, candidate experience management, and the ethical implications of data-driven hiring. This paper takes a closer look at how these practices have evolved, shedding light on the forces shaping the recruitment landscape and the need to balance innovation with ethics. The research hopes to inform future study and assist practitioners in negotiating future developments in the field.

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Recruitment practices, selection methods, Applicant Tracking Systems, employer branding, diversity and inclusion, gig economy, psychometric assessments, data privacy, algorithmic bias, workforce trends.

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Mahavira or Mahaviracharya was a 9th century (about 800-870 CE) Jain mathematician, who made significant contributions to the development of Algebra, born in the present-day city of Gulbarga, Karnataka, in southern India. He perhaps took his name to honour the great Jainism reformer Mahavira. He was the author of the earliest Indian text Ganitsarasangraha (dated 850 CE) devoted entirely to mathematics. He was patronised by the king Amoghavarsha of the Rashtrakuta Dynasty. Mahavira stresses the importance of mathematics in both secular and religious life and in all kinds of disciplines including love and cooking. He was the first one to separate Astrology from Mathematics. He is highly respected among Indian Mathematicians because of his establishment of terminology for concepts such as equilateral triangle, isosceles triangle.

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Significant, Dynasty, Stress, Secular, Terminology

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Darsapurnamaasayoho Somayagena Saha Pourvaparyam

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Darsapurnamaasayoho Somayagena Saha Pourvaparyam

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