Internship At National Load Despatch Centre ( Nldc ),...

ABSTRACT Internship at National Load Despatch Centre (NLDC), Power System Operation Corporation Ltd can be divided into two periods. In starting weeks, I get the overview of Indian power sector, understood the Indian power grid, functions of NLDC and many technical terms but later the project â€Å"Short Term Load Forecasting(STLF) using ANN Techniques† was assigned to me. I have to forecast the load for Delhi using ANN Technique. Load forecasting is the technique for prediction of electrical load. It is much need for a generating company to know about the market load demand in a deregulated market for generating near to accurate power. If the generation is not sufficient to fulfill the demand, there would be problem of irregular supply and in case of excess generation the generating company will have to bear the loss. There are various factors which influence the behavior of the consumer load. These factors can be categorized as Time factor, weather, economy and random disturbances. Accurate forecasting can maximize the profit of producers and for consumers, it can maximize their utilities. STLF plays an important role in electric power system operation and planning. An accurate load forecasting not only reduces the generation cost in a power system, but also provides a good principle of effective operation. It is trained using back propagation algorithm and tested. The results obtained from neural network ar e presented and the results show that the neural network basedShow MoreRelatedA Short Note On Power System Operation Corporation Ltd2955 Words   |  12 Pages ACKNOWLEDGEMENT First and foremost, I would like to express gratitude to NLDC, Power System Operation Corporation Ltd (POSOCO) for providing me a magnificent opportunity in the form of this dissertation to learn. The report bears the imprints of many people. There are many kinds of helping hands, to which I owe my sense of gratitude. So, I express my appreciation to all those, whose thoughts and insights helped me in understanding and completing my training. First of all I would like to thankRead MoreAn Internship Report On Production Of Graphite Electrodes And Power Generation6125 Words   |  25 Pages AN INTERNSHIP REPORT ON PRODUCTION OF GRAPHITE ELECTRODES POWER GENERATION DURATION: 45 DAYS From May 15, 2015 to June 30, 2015 SUBMITTED TO: SUBMITTED BY: MRS. P.SUMATI GAJENDRA MALVIYA HR, HEG LTD. MANDIDEEP 4th YEAR

Essay on Privacy in the Age of Digital Social Media

The usage of digital technology is always increasing, and the people are aware of it, and are aware of various benefits that technology brings to them. They are always connected, able to contact almost anyone from anywhere, and they have access to the biggest source of information in their pockets. But, people seem to forget one thing - how much data technology creates. Facebook statuses, photo albums, videos, tweets - when reminded, most of people will remember these. But they are not the only data created. For example, Facebook stores information about all activities their users do. They store all messages, even deleted ones, they store all information about all logins, they know the times, places, and the devices you logged in from†¦show more content†¦On the analytics side, information about the visits are stored, and on the service side, information about the user accounts are stored. When those two are connected, you get information about the visits and about the users that made them. That does not seem like a big problem. After all, almost always, analytics are outsourced to specialized companies and services, like Google Analytics, and user’s did not leave much personal information on the web. Things started to change in the second half of 2000s. In 2006, Facebook went mainstream. In 2007, the iPhone was released. It was the iPhone that popularized smartphones among the general public. Thanks to Facebook, many people started sharing their full identity online, and thanks to people, Facebook has a big information database about a lot of users’ online activities. When a user registers a profile, he needs to enter his name, e-mail, and a phone number. Phone number is used to confirm that the account is registered by a human, and not a bot programmed to create many accounts that will be used for spam. Most of users connect Facebook to the phone number they are actively using. When users take photos with a smartphone, usually the locat ion on which the picture was taken is stored in the metadata of the photograph. This is possible thanks to the GPS chips that are included in almost all smartphones today. There is a setting based on which the smartphone decides whether or not to store the location in theShow MoreRelatedThe Digital Of Digital Privacy1380 Words   |  6 Pages The term digital privacy can be defined as or explain as by using digital means protecting information of private citizens or business, In these days when people try to explain what is digital privacy mostly they refer to usage of internet or relate with it. This is the technology era, digital privacy is being discussed in related areas, and addressing related issues according in right direction drive towards solution and help to secure more data. Digital privacy focuses and depends on the mediumRead MoreGeneration X, Popularly Known As â€Å"Millennials† By Americans1484 Words   |  6 Pagesniche social problems. Web bloggers have declared Millennials the sole reason for having ruined such complex social issues such as marriage, and the idea of the American dream, to other, not so convoluted problems like the falling sales of bar soap and the increase sales of tree killing novels. However, these bloggers have yet to blame this generation for seemingly their largest offence yet, something that could well, and truly, effect all of mankind throughout the digital age; internet privacy. HavingRead MoreHipaa And The Nurse Anesthesthesia Environment1621 Words   |  7 Pages HIPAA and the Nurse Anesthesthesia Environment Matthew S. Cole University of New England Protecting Patient Health Information in a Digital Era We live in a digital age where everything from photos to important documents is saved or stored online. This includes the use of electronic medical records. The electronic medical record (EMR) is useful in assisting physicians to have a complete and thorough health history of the patient. The EMR serves as a continuity of care from one hospitalRead MoreOnline Technology And Its Effect On Society917 Words   |  4 Pagesthe number of iPhone and Android users on the rise, more effects and options are being added to social media sites that give out more of your information with the purpose of furthering the connection between members and their followers, for example, the ability to add your location onto pictures when they are posted, so viewers can see where you are taking that picture from. Instagram, a social media site for users to upload, edit and share photos with other users, has the latter option (along withRead MoreThe Legal Issue Of Cyberbullying Essay1520 Words   |   7 Pagescommunication technologies (ICTs) with social coaxing and methods such as hacking, and password stealing (Clough. J, 2015) Underage, age, law inadeqqute freedom of speech. Harm. In 2015, New Zealand has enacted the Harmful Digital Act of 2015, the act is a means to regulate cyberbullying. Stated in section 3 of the act, the act is designed to deter, prevent, and mitigate harm caused to individuals by digital communication as well as to provide the victim of harmful digital communications with a quickRead MoreResearch Images Taken From Mobile1015 Words   |  5 Pagesproblems throughout the world today (Reynolds, 2015, Glossary). Nowadays, websites and Social media has become the best medium to share and upload the personal photos. This is good because the photo will remain on these platforms for longer period and can be revisited to see those photos at any time. However, there are security, safety and privacy risks associated with it (â€Å"Photos, videos and social media†, n.d.) Social Networks are the prime targets of the attackers because it contains huge number ofRead MoreA Medium Is Defined As A Major Side Effect On Big Privacy1381 Words   |  6 PagesA medium is defined as â€Å"one of the means or channels of information† (Dictionary.com). In his most famous book Understanding media: The Extensions of Man, Marshall McLuhan said it was the medium itself that shaped and controlled â€Å"the scale and form of human association and action† (1964, p. 9). As an emerging medium, Big Data is pushing us into a new age of compiling and sharing information. It allows us to interpret information in remarkably efficient manners. For example, medical scientistsRead MoreSurveillance And Information Technologies For Administration And Control Processes Essay1191 Words   |  5 PagesSurveillance is ubiquitous in societies that depend on communication and information technologies for administration and control processes (Lyon, 1). Anyone who uses new media are subject to checking, monitoring and scrutinizing; it is near impossible to find an arena free from listening, watching or tracking (Lyon, 2). Some suggest that not doing anything criminal means they ought to have no concerns with or that they are not interesting enough as an individual to be worth surveying (Buettner, 2015)Read MoreThe Impact Of Technology On The Technology Field1421 Words   |  6 Pageschange in the way we as humans communicate would indicate the information age demands parents to be consistently up to date with the latest innovations of technology. Both genders would have to be aware of basic computing knowledge, the home would requir e internet access and parents would be required to be at an above average understanding of word processing. What problems could this potentially bring in a societal context? Privacy issues are already extremely prevalent, recently Apple iCloud was hackedRead MoreThe Censorship Of The Media1665 Words   |  7 Pages Privacy in the Media In addition, the media is in an especially complex situation regarding the current concept of privacy regarding the proper use of technology and due to the numerous ethical issues, that arise from sensationalist media practices. First, the invasion of privacy can be justified by uncovering vital information that serves public interest to be considered ethical journalistic practice (Plaisance, 2014, p. 187). However, while there is less ethical merit in providing the public

Reliance on Misleading and Deceptive Conduct

Question: Discuss about the Reliance on Misleading and Deceptive Conduct. Answer: Introduction: The Australian Consumer Law or the ACL is a substantial legislation for the protection of consumers in Australia, along with making certain that the businesses trade in a fair manner. Schedule 2 of the Competition and Consumer Act 2010 (CCA) contains the provisions regarding ACL (Coorey, 2015). The CCA provides the protection to the consumers from unfair contractual terms, unconscionable conduct, false representations, misleading and deceptive conduct, and various other unfair practices, which relate to the supply of goods and services, and even land (Corones, 2012). Section 3 of the ACL contains the definition of a consumer. As per this section of the ACL, an individual, who acquires goods or services, the amount of which does not exceed $40,000, or such a higher amount, which has been prescribed is a consumer, provided the goods or services have been acquired ordinarily for personal, household or domestic consumption or use (Australasian Legal Information Institute, 2017). Section 18 of the ACL provides the restriction on individuals from engaging in such conduct, during the course of trade or commerce, which can be stated as being deceptive or misleading (Kolivos and Kuperman, 2012). This conduct is considered as being an unfair business practice as per the CCA. Section 18 can be used by the people who have been induced or persuaded by some other party to enter into the contract, as a result of the misrepresentations which were made when the negotiations took place, and which ultimately led to the formation of the contract. When such an incident occurs, the aggrieved party can apply for the requisite relief due to the deceptive or misleading conduct arising from the misrepresentation made (Federal Register of Legislation, 2013). In the matter of Australian Competition and Consumer Commission v Internet Pty Ltd (2013) FCAFC 37, certain advertisement was given by TPA in the newspaper. The court held that these advertisements were not only misleading, but deceptive as well, due to the single price which was displayed in the advertisements for the services undertaken by the individuals. The reality was very different from these advertisements, as for these services, the individuals were required to pay a number of other costs, which were deliberately withheld in the advertisement by TPA. Upon the matter being presented before the court, the ruling was given in favor of the Australian Competition and Consumer Commission and it was held that the provisions of ACL were breached by TPA, as it engaged in misleading and deceptive conduct (High Court of Australia, 2013). In De Bortoli Wines Pty Ltd v HIH Insurance Ltd (in liquidation) Others [2012] FCAFC 28, it was held by the court that reliance had to be established on the misleading or deceptive conduct of the defendant, so that the provisions of the Trade Practices Act 1974 could be contravened. The Trade Practices Act 1974 is the former act of the ACL. Once the reliance is established, the court can award the required remedies to the plaintiff (Czoch and Whalebelly, 2012). As per section 29(1)(i) of this ACL, the individuals are considered to be involved in the unfair practices, where such individuals, during the course of trade or commerce, engage in the supply of goods or services and for promoting their goods or services, a false or misleading representation is made by the individuals in relation to the value, price, need, grade, standard or one of the other aspects of the services or products offered (Federal Register of Legislation, 2013). In Australian Competition and Consumer Commission v Jetstar Airways Pty Ltd [2015] FCA 1263, it was held by the court that there was a failure on part of Virgin and Jetstar, and that too deliberate, regarding the disclosers made pertaining to the additional Booking and Service Fee. Moreover, these particular disclosures relating to the fee were made, only when the consumer had crossed a certain number of stages under the booking process. Due to these reasons, both Virgin and Jetstar were held too have breached the act as they made false or misleading representation, due to their engagement in the misleading dip pricing practice (Jade, 2015). Exclusion clauses are the clauses, which are inserted in the contract and which have the capability of limiting the liability of the party including the same in the contract. For the exclusion clause to have legal validity, the same has to be incorporated in the contract in a proper manner. In addition to this, an exclusion clause cannot limit the applicability or contradict any law. It is crucial that the exclusion clause is brought to the notice of the party against which the same is being inserted (Roach, 2016). L'Estrange v Graucob [1934] 2 KB 394 contained the ruling that it was irrelevant if the individual had read the exclusion clause or not, if the same has been signed, the same is applicable on the parties (Swarb, 2017). In Chapelton v Barry UDC (1940) 1 KB 532, the back of the ticket contained the exclusion clause and the same was not brought to the attention of the plaintiff. Due to these reasons, the same was held as being invalid (E-Law Resources, 2017a). In Thornton v Shoe Lane Parking Ltd (1971) 2 WLR 585, a similar ruling was given. In this case also, for the reasons of the exclusion clause being at the backside of the ticket, it was held to be invalid (E-Law Resources, 2017b). The exclusion clause has to be stated at the same place only, and cannot be referred to some other place, as was established in Thompson v London Midland Scottish Railway (1930) 1 KB 41 (E-Law Resources, 2017c). The ruling given in L'Estrange v Graucob has an exception. In case the signing part of the contract has been misrepresented or has been mislead regarding the terms of or the effects of the contract, the rule given in L'Estrange v Graucob does not apply. Application In Curtis v Chemical Cleaning and Dyeing Co [1951] 1 KB 805, when the claimant gave her dress to the cleaners, she was requested to sign a form. Upon enquiring about the same, she was told by the assistant that the form excluded the cleaners liability in case the beads are damaged. However, this exclusion clause limited the liability of the cleaner from all the damages. When the dress was returned as badly stained, the plaintiff sued the cleaner. In this case, it was held that due to the misrepresentation by the assistant, the cleaner could not rely upon the exclusion clause (Swarb, 2015). In the given case study, Brent paid a total sum of $12,000 for him and his wife for booking the tour. This amount is within the limits given in the ACL for a consumer, and so, as per ACL, Brent and his wife were consumers. When Brent was booking the tour, he came across the live chat, where he clearly stated his and his wifes condition and preferences, and only after the assurances were made regarding the same, did he book the tour. He was explicitly told that the river part of the tour was a leisurely 8-hour cruise down a river in Canada, which would suit him and his wife, particular because his wife would not swim. When the tour was started, on 9th day, they came across the river cruise, which required him to ride rafts, which was not mentioned in the itinerary. And there he was told that they would have to ride the rafts as it was the only way. This statement was different from the one made when booking the tour and hence, the same can be deemed as misleading and deceptive conduct, in addition to the same being false representation. It was falsely told to Brent that the ride would be cruise, when in reality it was rafts, which mislead him into entering the tour. As per Australian Competition and Consumer Commission v Internet Pty Ltd, the information regarding the use of rafts was deliberately withheld by Rocky Tours and so, Brent was misled. And as per Australian Competition and Consumer Commission v Jetstar Airways Pty Ltd, Brent came to know about the rafts only after he had reached the 9th day of the tour. Hence, both section of ACL, i.e., 18 and 29(1)(i) were beached and this action would be deemed as unfair trading on part of Rocky Tours. Moreover, the exclusion clause would not safeguard Rocky Tours due to the misrepresentation made in it, as per Curtis v Chemical Cleaning and Dyeing Co. Even if this misrepresentation was not made, the exclusion clause would have been invalid, as the same restricted the liability of Australian Consumer Law on them, even when they provided services to the consumers. Conclusion To conclude, the applicability of the Australian Consumer Law on this case has given Brent, the rights of a consumer. And the actions undertaken by Rocky Tours have breached the leading sections of the ACL. Also, Rocky Tours cannot be safeguarded by the exclusion clause and so, would be liable for the losses incurred by Brent. References Australasian Legal Information Institute. (2017) Competition And Consumer Act 2010 - Schedule 2. [Online] Australasian Legal Information Institute. Available from: https://www.austlii.edu.au/au/legis/cth/consol_act/caca2010265/sch2.html [Accessed on: 23/04/17] Coorey, A. (2015) Australian Consumer Law. London, United Kingdom: LexisNexis Butterworths. Corones, S.G. (2012) The Australian Consumer Law. New South Wales: Lawbook Company. Czoch, K., and Whalebelly, R. (2012) Australia: DO: Shareholder reliance on misleading and deceptive conduct. [Online] Mondaq. Available from: https://www.mondaq.com/australia/x/182340/Arbitration+Dispute+Resolution/DO+Shareholder+reliance+on+misleading+and+deceptive+conduct [Accessed on: 23/04/17] E-Law Resources. (2017a) Chapelton v Barry UDC [1940] 1 KB 532. [Online] E-Law Resources. Available from: https://www.e-lawresources.co.uk/cases/Chapelton-v-Barry.php [Accessed on: 23/04/17] E-Law Resources. (2017b) Thornton v Shoe Lane Parking [1971] 2 WLR 585 Court of Appeal. [Online] E-Law Resources. Available from: https://www.e-lawresources.co.uk/Thornton-v-Shoe-Lane-Parking.php [Accessed on: 23/04/17] E-Law Resources. (2017c) Thompson v London, Midland and Scotland Railway Co [1930] 1 KB 41 Court of Appeal. [Online] E-Law Resources. Available from: https://e-lawresources.co.uk/Thompson-v-London%2C-Midland-and-Scotland-Railway-Co.php [Accessed on: 23/04/17] Federal Register of Legislation. (2013) Competition and Consumer Act 2010. [Online] Australian Government. Available from: https://www.legislation.gov.au/Details/C2013C00620/Html/Volume_3#_Toc368657533 [Accessed on: 23/04/17] High Court of Australia. (2013) Australian Competition and Consumer Commission V TPG Internet Pty Ltd (M98/2013). [Online] High Court of Australia. Available from: https://www.hcourt.gov.au/assets/cases/m98-2013/M98-2013.pdf [Accessed on: 23/04/17] Jade. (2015) Australian Competition and Consumer Commission v Jetstar Airways Pty Limited [2015] FCA 1263; (2016) ATPR 42-523. [Online] Jade. Available from: https://jade.io/j/?a=outlineid=418609 [Accessed on: 23/04/17] Kolivos, E., and Kuperman, A. (2012) Consumer law: Web of lies-legal implications of astroturfing. Keeping good companies, 64(1), p. 38. Roach, L. (2016) Card and James' Business Law. 4th ed. Oxford: Oxford University Press. Swarb. (2015) Curtis v Chemical Cleaning and Dyeing Co: CA 1951. [Online] Swarb. Available from: https://swarb.co.uk/curtis-v-chemical-cleaning-and-dyeing-co-ca-1951/ [Accessed on: 23/04/17] Swarb. (2017) LEstrange v F Graucob Limited: CA 1934. [Online] Swarb. Available from: https://swarb.co.uk/lestrange-v-f-graucob-limited-ca-1934/ [Accessed on: 23/04/17]

Like Father Like Son Essays - Song Of Solomon, Milk, Milkman

Like Father Like Son The book called Song of Solomon, by Toni Morrison, deals with many real life issues, most of which are illustrated by the relationships between different family members. One archetypal relationship that Morrison includes in her book is the father:son relationship. Although it is obvious that Morrison does talk about this topic, it is not so obvious what she is trying to say about it. So, one might ask, how does the author establish the father:son relationships throughout Song of Solomon and do they fit some sort of archetype? To answer a question such as this, it would be beneficial to examine the actual father:son relationships throughout the book. One established father:son relationships that is significant to this issue is the one between Milkman and Macon. From the start, Macon objected to Milkman even being born; he forced Ruth to do things to her body that could possibly kill the fetus. With a little help from Pilate, however, Milkman was allowed into the world. Macon, perhaps instigated by never having a mother and seeing his own father killed, has always appeared to be a cold and unforgiving parent even to his other children besides Milkman, but since Macon heard that his son?s nickname was ?Milkman? he has seen him as a symbol of his disgust for his wife and lost a lot of respect for his son and became even colder towards him. The only time Macon did spend time with Milkman, he spent it boasting about his own great upbringing, warning him to stay away from Pilate and telling him about the embarra ssing actions of Ruth. This is the manner in which Morrison establishes the relationship between Macon and Milkman in the first part of the book. As Milkman grows up, he recognizes the emotional distance between his father and himself. He goes his own way with a few skirmishes here and there and later he even manages to hit his own father. As Macon and Milkman grow apart and go their separate ways, Milkman doesn?t even think twice about it and just continues on with his life as if nothing was different. Near the end of the book Milkman seems to change his view of his father, with some help from the positive memories of the old men in the passage. Milkman grew up thinking that his father was a cold-hearted, hot tempered control freak who was only interested in gaining money and property. He came to realize that although there was some truth to what he thought, Macon was not inhuman. This is displayed in the passage when it states, ?His own father?s words came back to him: ?I worked right alongside my father. Right alongside him.? Even though Macon was against Milkman?s birth, he came to cherish his only son in his own way. Probably under the impression that showing affection was a sign of a weak man, Macon held back what feelings he had for his son. Milkman?s feelings about his father?s shows of affection are described when Morrison writes, ?Milkman thought then that his father was boasting of his manliness as a child. Now he knew he had been saying something else.? One of the few go od memories that Macon had of his father was spending time working alongside his father. Milkman finally figured out that Macon?s description of his time spent working with his father were meant to as a show of affection for Milkman and to cause Milkman to see the similarities between Macon?s relationship with his father and Milkman?s relationship with Macon. Milkman?s revelation is explained, ?That he loved his father; had an intimate relationship with him; that his father loved him, trusted him, and found him worthy of working ?right alongside? him.? He most likely remembers gaining a great amount of respect for his father by learning and watching how his father made a living. Milkman now saw that all those times that he spent with Macon down in the workshop and being taught how to run a business were his father?s mild way of showing love. When Macon would tell Milkman about how he worked right alongside his father, he wasn?t bragging about how masculine he was when he was little,

The Political Allegory of George Orwells 1984 essays

The Political Allegory of George Orwell's 1984 essays In 1984, by George Orwell, the reader sees a primary theme of political allegory and satire. Orwell is presenting the world of 1984 as a satiric statement of what might come to pass if the world did not become aware of the terrible problems facing it, not in 1984, but here and now. Orwell wrote the novel not as a prediction, but as a warning. He believed that in many ways society was regressing back in the direction of barbarism, and that in the fight against fascism and other totalitarian and terroristic systems of government, Western Civilization could fall under fascist rule. 1984 is the kind of book in which a writer finally explores the limits of his obsessions and the darkest aspects of themes he has been concerned with for years. Animal Farm, which is considered to be Orwells masterpiece, and 1984 are concerned with political evil and the misuse of language. Animal Farm is a fable. Orwell rewrote it with human beings as the personae in 1984. The two books express his unique assumption that evil is primarily political. The two best-known works of Orwell, the beast fable and the anti-Utopian fiction seem to have more universal satirical meanings. Both books deal with the corruption of an originally revolutionary ideal into just another dictatorial regime. As if Orwell is saying, men will always allow themselves to be tricked and to behave, in the terms of like Boxer and sheep. Animal Farm is a satire that uses its characters to symbolize leaders of the Russian Revolution. The animals of "Manor Farm," the setting of this novel, which symbolizes Russia, overthrow their human master after years of mistreatment. The theme in the novel being that in every society there are leaders who will, if given the chance, likely abuse their position. Old Major is a prize white boar who helps point out to the animals that no animal in England is free. He continues to tell the animals that their labor is stolen by man, who bene...

Marketing 2 Assignment Example | Topics and Well Written Essays - 500 words - 1

Marketing 2 - Assignment Example g undertaken also they designed teaser campaign for the firm’s rebranding process also a graphic was released which showed the repealing of old and evolution of a new identity on ’01.01.01’ (date of launch)(Rebranding and Repositioning a global brand. 29 legal firms all around the world were coming up with marketing strategies and advertisements which repeatedly captured the rebranding of Andersen Consultancy and the idea that firm was evolving into a bigger and better place. Through this extensive research and massive marketing the firm transferred its brand equity from Andersen to Accenture which itself was derived from two words ‘assent’ and ‘future’, the idea of providing more and broader services than ever before. (Accenture) (Accenture, 2002) A. The shift in the Brand name as mentioned previously was a result of a legal decision which if not handled properly might have resulted in the collapse of a giant of that time. This rebranding was not a result of an innovation or anything. Criteria to evaluate the new brand name revolved around the question, that what innovation was the firm offering after this huge makeover. Business reengineering, Business Integration, Specialist in Technology, More and broader services, Masters in the field and Leaders of Future were the six agenda’s set by the firm at the time of rebranding. In the light of these criteria Accenture is the perfect fit for the company since its name in itself speaks of future and is innovative in nature too. The conversion was no less then reengineering and transforming the firm into a whole new platform, for people to look up to with a guarantee of receiving the best at their footsteps. (Accenture, 2002) A. Accenture used this opportunity of renaming itself to reposition the brand in a whole new dimension. While this process of repositioning was undertaken the company and its legal and marketing advisors kept this fact in mind that the services of consulting being performed by the

How are the banks affecting the US economy thanks to the TARP and Essay

How are the banks affecting the US economy thanks to the TARP and other bailouts from the US government - Essay Example This research report looks into the bank effects on the United States Economy, after the bailout plan, and how the banks have coped with the plan in their economic functions which according to Fusan, R., (2008, pg 1095), include netting and settlement of payments, through collection and paying agents for customers, clearing and settlements of payments which enables them to economize on reserves held for such settlements of payments, since inward and outward payments offset each other. They also play a vital economic role in credit intermediation, through borrowing and lending back-to-back on their own account as middlemen. Therefore, with the economy maimed to the point where the bank roles were threatened, the Government through its responsibility as the economic overseer intervened to allow them to borrow more on demand debt as well as short-term debt and to provide more long term loans. The borrowed money would mainly maintain cash reserves, invest in marketable securities that can be readily converted into cash if needed and raising replacement funding as required from various sources such as whole sale cash markets and securities market (Fusan, R., 2008, pg 1102) According to Alfred and Yalata, (2009, pg 300), the banks that agreed to receive preferred stock investments from the US Treasury included Goldman Sachs Group Inc, J.P. Morgan Chase & Co., Morgan Stanley, Bank of America Corp., Citigroup Inc., Bank of New York Mello