The Trend Of Bad Loans Of The Bank During The Past Five...

Research question one sought to establish the trend of bad loans of the bank during the past five years. The study shows the trend of loans for the past five years, the types of loans that Societe Generale advances to its customers as identified by the study respondents. Personal Loans, Auto Loans, School Fees Loans and Finance Lease. The study shows that the bank recorded the lowest bad debt ratio in 2013 and highest in 2015. It was attributed to the current economic volatility in the country. The study found that individual and corporate customers as well as small and medium scale enterprises qualify to access loans from the bank and that, personal loans by salaried workers are the most accessed loan facility at Societe Generale. Institutional loans was next in line, followed by School Fees Loans, finance Lease, Auto Loans and lastly, SME loans. The study found that on a scale of 1-5, 1 being the lowest and 5 being the highest, SME loans have maintained a trend of the highest payme nt default rate followed by Institutional loans (company scheme loans). 5.2.2 To identify the factors that account for bad loans Research question two sought to identify the factors that account for bad loans in Societe Generale. The study found that high national inflation causes many businesses to fold up therefore rendering those businesses that have accessed loan facilities unable to pay up. High interest rates on loans was the second most cited reason for loan defaults amongst MoreoverShow MoreRelatedThe Effects Of Bad Loans Of The Bank During The Past Five Years Essay2380 Words   |  10 PagesData on table 4.2 shows respondents’ years of work with Societe Generale. The study shows that most employees (34%) have worked for periods between six to ten (6-10) years. 33% have been in employment for periods between 11-20 years. 24% have been in employment with for less than 5 years whilst the remaining 9% have worked for the bank for over 20 years. These findings show that sampled respondents are people with experience in the banking industry as a whole and Societe Generale in particular andRead MoreT he Subprime Mortgage Crisis Of The United States Essay1575 Words   |  7 Pagesthe subprime mortgage crisis. Like, low interest rates and housing prices, and how this eventually led to a localized credit dilemma in other financial regions that finally made a difference in the actual economy or the financial system. In earlier years, financial economic activity had grown rapidly and varying financial invention methods had been misused and abused vastly, which is the key cause of this multinational financial crisis/dilemma. In addition, the involvement of shadow banking companiesRead MoreThe Global Financial Tsunami During 2007-20091591 Words   |  7 PagesThe Global Financial Tsunami during 2007-2009 is considered as the most serious financial crisis since the second half of the twentieth century, leading to liquidity shortage in the world’s main financial markets, further influencing the real economy, and sending the world into recession. This crisis primarily stemmed fro m the subprime mortgage crisis in the U.S., which can be interpreted as the banking emergency triggered by the burst of the real estate market bubble, excessive credit, and abuseRead MoreA Markov Chain Study on Mortgage Loan Default Stages7482 Words   |  30 PagesA Markov Chain Study on Mortgage Loan Default Stages Ying-Shing Lin, PhD Associate Professor, Dept. of Accounting Information Systems. National Kaohsiung First University of Science and Technology e-mail:yslin@nkfust.edu.tw (NKFUST) Sheng-Jung Li, PhD Assistant Professor, Dept. of Finance Shu-Te University e-mail:botato@stu.edu.tw Shenn-Wen Lin PhD Candidate National Kaohsiung First University of Science and Technology e-mail:059180@landbank.com.tw September, 2012 Abstract ShiftingRead Morecredit appraisal8971 Words   |  36 Pagesobtaining Loan against Property. In addition the project also focused on financial performance of HDBFS. 1.1 Purpose of the Study The main purpose of study is to know how the loans are granted against property and how the worthiness of the borrower is appraised. The study helps us to know the various procedures, policies, criteria and eligibility required during the sanction of loan. It was also undertaken to analyze the financial performance of HDB Financial Services over the past years. 1Read More5cs of Credit2510 Words   |  11 Pages5C’s of CREDITS www.investorwords.com The five key elements a borrower should have to obtain credit: character (integrity), capacity (sufficient cash flow to service the obligation), capital (net worth), collateral (assets to secure the debt), and conditions (of the borrower and the overall economy). Five C s of Credit (5 C s of Banking) www.wikicfo.com ¶ 1. Cash Flow 2. Collateral 3. Capital 4. Character 5. Conditions The â€Å"5 C’s of credit† or 5C s of bankingRead MoreLoan Classification, Provisioning and Debt Default Trend in Mercantile Bank Limited15739 Words   |  63 PagesLOAN CLASSIFICATION, PROVISIONING AND DEBT DEFAULT TREND IN MERCANTILE BANK LIMITED SECTION – 1 INTRODUCTORY PART 1.1 Preface Now a day present world especially the Asian countries are going through an economic recession. Though the Asian economic crisis began few years back and it is some how tackled today but the 11 September incident aggravated the disorder in the economic infrastructure of our country. Our economy is much dependent on foreign aids. The World Trade Centre incidentRead MoreA Comparative Study of Lending Performance of the Commercial Banks36288 Words   |  146 PagesA comparative study of lending performance of the commercial banks Submitted by: NIRANJAN PARAJULI Balkumari College TU Registration no: 7-1-241-244-98 Roll No: 48/063 Submitted to: Office of the Dean Faculty of Management Tribhuvan University In the partial fulfillment of the requirements for the degree of Master s in Business Studies (MBS) Narayangarh, Chitwan January, 2009 Recommendation This is to certify that the thesis SubmittedRead MoreBbT Bank Analysis7064 Words   |  29 Pages[pic] BBT BANK ANALYSIS REPORT FINA 280 FINANCIAL INSTITUTION MANAGEMENT MODELING William C. Handorf, Ph.D. June 28, 2008 Washington, DC Content 1. INTRODUCTION †¦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 2. BBT †¦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‚¬ ¦.4 3. US ECONOMIC OVERVIEW †¦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‚¬ ¦12 4. BBT Bank †¦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‚¬ ¦14 5. Conclusion†¦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‚¬ ¦..41 6. Questions to Management†¦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‚¬ ¦.42 1. INTRODUCTION The purposeRead MoreDebt Collection Industry15330 Words   |  62 PagesFixed-fee servicing Portfolio acquisition SimilarIndustries 52221 CreditCardIssuingintheUS Credit card companies employ debt collection agencies to collect defaulted debt. 52239 LoanAdministration,CheckCashingOtherServicesintheUS Loan servicing institutions outsource default loans to debt collection agencies for collection. 56145 CreditBureausRatingAgenciesintheUS Credit bureaus provide credit reports on individuals and businesses. AdditionalResources Foradditionalinformationonthisindustry

Warning Arts Education Is Declining - 1392 Words

Jordan Tanley Gallos English 3 Honors 4/19/16 Warning: Arts Education Is Declining Approximately 20 years ago global studies comparing student test scores in the core subjects showed that American students were not performing as well as students in many other countries and that this performance appeared to be worsening. As a result, the federal government became more involved and forced schools to adopt a new set of standards that emphasized the core subjects. Unfortunately, this initiative often led schools to limit or discontinue arts education. Programs and laws such as the No Child Left Behind (NCLB) initiative, Common Core, and the Every Student Succeeds Act (ESSA) have, while trying to improve our students performance, caused another problem. Many studies show that students who participate in arts education have better observation skills, comprehension, better attention to detail, improved social skills, are less likely to be depressed, etc. this is why the lack of education in the arts is doing a disservice to our nation s students. Budget cuts have affected the arts programs the most. â€Å"It’s estimated that since 2008, more than 80 percent of schools nationwide experienced cuts to their budgets. As a remedy in some instances, art programs were partially or completely eliminated from affected school districts.† (School). Arts education funds come from three main sources: National, State, and Local. Over the past twenty years, funds have fluctuated up and down, butShow MoreRelatedHomework: Because 7 Hours of School Isn’t Already Enough Essay1337 Words   |  6 Pagesamount of stress caused by schoolwork among high school students (Slate Magazine). What does this mean for tomorrow’s leaders and future generations of dignitaries? Scientists have concluded that sleep deprivation, long-term health problems, and declining overall academic achievement are lasting effects of homework-related stress on the average student, and they should not be ignored. One of the most prevalent effects of stress on the average high school student is sleep deprivation. Whether procrastinationRead MoreWar or Peace? Essays1496 Words   |  6 Pagesinsurgents. There was also a more stable economy which was excellent for the Guatemalans. In the last two years, there was a failing economy, illness, and the escalation of violence. The government did not know how to deal with the country’s declining heath, education, and economy or the rise in violence. In the new election of 1990 a man named Jorge Serrano was elected as president. Around 1993 corruption took Serrano when he illegally dissolved congress and the Supreme Court and tried to limit civilRead MoreDumbest Generation Analysis Essay3052 Words   |  13 Pagesone-third recognized the American general at Yorktown. -Less than one-fourth indentified James Madison as the â€Å"father of the Constitution†.† B. Civics-â€Å"In a 2003 survey on the First Amendment commissioned by the Foundation for Individual Rights in Education, only one in 50 colleges students named the first right guaranteed in the amendment, and one out of four did not know nay freedom protected by it. i. In a 2003 study sponsored by the National Conference of State Legislatures entitled Citizenship:Read MoreColony Collapse Disorder1901 Words   |  8 PagesDisorder is a phenomenon affecting domestic and wild honey bee colonies worldwide. Basically what is happening is worker bees are leaving the hive and not coming back but disappearing. There are warning signs of a hive on the verge of collapse. Queen bees are seen outside of the hive is one warning sign of impending collapse. Another is juvenile bees making up the workforce. The juvenile bees are not capable of caring for the larvae. Bees also will not eat their own stores. Once a hive hasRead More A, B, C...Not As Easy As 1, 2, 3: Are College-Bound Students Prepared?2056 Words   |  9 Pageseducational system in the United States has seen many changes over its history as a country, and most recently, alarming news of the US slipping greatly behind in the Global Education Race and the College Board changing college admi ssion standards have drastically changed the face of higher education (Snider, Global Education Race). As it is, students already struggle tremendously to adjust to the overwhelming new aspects of a college life. With little preparation, these events only worsen the minimumRead MoreExtend School Year2056 Words   |  9 Pagesschool year is averaged to about 230 days (Hughes). These countries are very competitive and are steadily rising in rankings and economy, while America is falling. According to the National Commission on Excellence in Education, America is declining rapidly in academics as well, warning of a â€Å"rising tide of mediocrity that threatens our very future as a nation and as a people† (National Policies for Improvement). The OECD Programme for International Student Assessment, or PISA, tests students aroundRead MoreTexting Is Becoming Popular Among Teenagers Essay2317 Words   |  10 Pagesin their classwork† (Dansieh 222). However, utilizing wrong g rammar, shortened words, and misspellings during the use of social media and texting has been formally adopted in the proper English language as well and is also being utilized in our education system. When Nicholas Carr posed the question â€Å"Is Google making us stupid?† he raised some flags about how life is being changed by the Internet and ignited an important debate. In his book, Carr describes how various innovations shaped the mindRead MoreAnalysis Of The Original Version Of Kanye Wests Latest Single Power2029 Words   |  9 Pagesvulgarity in the lyrics. However, a radio edited and condensed version was released pairing the song down to almost half its original length (billboard.com). Power, the radio edited version, debuted on billboards at number 22 and has been steadily declining ever since. The explicit version has done even worse than the edited version, only rising to number 67 at its peak on the billboards (billboard.com). Although the song has not done as well as was expected on various charts and billboards, the musicRead MoreCPE Madureira 20087955 Words   |  32 Pages  See  E1  and  E3. 3.  We  decided  to  Ã¢â‚¬ ¦Ã‚  dancers  who/  that  /  whom  we  had  seen  Ã¢â‚¬ ¦Ã‚  See  E2. 4.  The  new  concert  hall,  which  holds  Ã¢â‚¬ ¦Ã‚  people,  was  Ã¢â‚¬ ¦Ã‚  See  E1  and  E3 5.  The  band  ICE,  whose  manager  has  just  resigned,  is  /are  currently  Ã¢â‚¬ ¦Ã‚  See  E5. 6.  He  had  never  Ã¢â‚¬ ¦Ã‚  education,  which  amazed  me.  See  E6. 7.  Skiing  and  snowboarding,  both  of  which  are†¦Ã‚  sports,  can  now  be  Ã¢â‚¬ ¦Ã‚  See  E4. 8.  The  new  stadium  won’t  be  finished  Ã¢â‚¬ ¦Ã‚  years,  by  which  time  it  will  be  out  of  date.  See E4. I 1.  The  losing  team,  who  were  Ã¢â‚¬ ¦Ã‚  defeat,  trudged  towards  Ã¢â‚¬ ¦Ã‚  The  verb  is  passiveRead MoreThe Censorship of Art Essay example14698 Words   |  59 PagesThe Censorship of Art While the censorship of art is not a new phenomenon, recent years have witnessed renewed and intensified attempts to control popular culture. In particular, rap and rock music have come under increasing attack from various sides representing the entire left and right political spectrum, purportedly for their explicit sexual and violent lyrical contents. In this paper is investigated which moral codes underlie these claims against popular music, how social movements mobilize

Australian initial public offers Free Essays

Australia has been characterized by a varying trend in its initial public offerings between the years 2003-2007.  Ã‚   There has been continued initial under-pricing in the daily capital market and high under performance of the initial public offers. Broadly, Australian IPO’s have greatly been influenced by the government activities with its intention to promote public policy. We will write a custom essay sample on Australian initial public offers or any similar topic only for you Order Now Through out the time, the government has been in strict control of the IPO’s in an attempt streamline the economic activities. Australia has gone under rapid changes in the IPO’s of companies which were initially owned by the state. Over the years since 2003 the government has restructured the IPO’s to focus a more economic growth. In nearly all the cases, firms owned by the government have been inefficient in comparison with those of the private sector. (Prasad, Vozikis) Since 2003, Australia has been faced with the problem of under pricing, which has been using the two-tiered pricing system allowing, retail investor to only pay a set fixed price as they leave investors from other institutions to form the price through bidding. This is an attempt to allow small sized investors with varied investment inefficiencies to have a chance of a probable investment in the capital. Over the years, since 2003, small retail investors are let to have their IPO order first before the bigger institutional investors. For both of the public and state companies, IPO’s have generally being under priced. There two basic reasons behind this, majority been market asymmetry and any possible government regulation to attain political interests. The variability of the under pricing is highly determined by the size of the issue, in which case high issues may imply lower under pricing statements due possible lower rates of subscription.   (Suchard, Woo, 2003) However, to the government, under pricing of IPO’s is a strategy geared toward immediate increase in the value to the gains from offer.   The IPO’s under pricing are structured towards achieving various economic policies. For every IPO, the domestic investors are mostly favored than private investors. This is an attribute that the government uses to minimize the cash outflow by the foreign investors. This is through the recognition attached to the capital outflows from economies. Through under pricing, investors are normally able to buy many shares which in turn give relatively high returns after the offer high returns. Market asymmetry is the major reason behind under pricing of IPO’s, where investors with large investment schemes are more informed about the market information to the new market share issue than small marginalized investors. To cater for this, the government regulation is to ensure that these marginalized investors are given the first favor.   In the purchase of the shares, huge investor would really buy them in bulk form at their under price situation. To the small investors, they will always benefit from receiving the new shares at a desirable chance. (O’Flynn, 2004)   Other investment entities like bankers may be in fear of possible litigation that may be accompanied by significant decline of the government to developed credibility in polices concerning market orientations.   Therefore, under pricing is a silent attempt by the government to control the prevailing status of the economy through adjustments in the capital markets. From the manner in which the IPO’s are released, they actually help to safeguard the weak and less developed investor from the activity of big investors who are well informed about the market system. Basically, timing of IPO’s Australia is normally scheduled when the government wants to release some of its ownership it has in its public owned companies.   Its basic intention is to create income to finance different government structures.   Either, IPO’s by the privately owned companies is done when the companies want to acquire income from the public for further expansion of its activities.   For both cases, initial public offers have showed almost the same characteristic in their under pricing characteristics. (Gharghori, Chen, Robert, 2006) In its use of two-tiered pricing system, the government helps to keep the low informed investors from any exploitation from the big markets. The subject of finance has struck the activities of many scholar who have been extensively been under the study of the influence of corporate finance and any market blocks that affect sourcing of this finance by different sized incomes in the investment concept by firms. It has been seen that, this concept is determined by the liquidity value of these forms in Australia. Such liquidity is basically determined by different firm’s context that pertains their cash flows.   Investment depends on this ratio, where firms subject to a high liquidity a faced with higher investment than those with low liquidities whose investment is relatively low. (Prasad, Vozikis, Ariff, 2006) However, under pricing in Australia has been a vote to the subject of asymmetry and possible imperfections that exists in the market system. On understanding the rigidities that exists in the market system, the Australian government has undertaken to ensure under pricing to safe guard the interest of the low investor in the understanding of the market structures that work in favor of the big investors. (O’Flynn, 2005) Therefore, for the Australian government, it’s rational to undertake such activity since it basically leads capital development for the low income investors. Reference Suchard, J Woo, L (2003) Are Hot Markets Driven by Hot Resource Shares or    Hot Commodities? Australian Journal of Management, Vol. 28 Prasad, D, Vozikis, G Ariff, M (2006) Government Public Policy, Regulatory Intervention and Their Impact on IPO Under pricing. Journal of small Business Management, Vol. 44 O’Flynn, J (2004) Australian Capital Territory: January to June 2004. The Australian   Journal of Politics and History, Vol. 50 How to cite Australian initial public offers, Papers

Aspects of Life free essay sample

What are the three most important aspects of life that can guarantee a happy life? ‘Succeeding in all aspects of life in a single lifetime is nearly impossible. However, if a person who manages this, that person will certainly get all the happiness in life. ’ All the aspects of life are related to emotions and feelings. The environment and surrounding, that includes family, friends, school and work place help people to shape their ideologies, principles, and ethics in life. The religion and community also forms the faiths and beliefs. It forms notions about right or wrong and good or bad. All these things are related to human feelings and they are important in ensuring people to live a happy life. The three most important aspects of life that can guarantee a happy and contented life are family, career and social life. First and foremost, the most important aspect of life to lead to a happy life is family. We will write a custom essay sample on Aspects of Life or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Family is the basic and foremost aspect of every human being. Every persons goals are generally driven towards happy family and well-being of all the family members. Family relationships give people the feeling of belonging and a sense of security. A family can consist of parents or spouse and kids or both. As family is known to be the source of love and support, people generally feel more warmth and love towards their family members. When one gets support from the family, he or she will have the courage of facing and solving his or her problems instead of running away from them. These people will then have a happy life after solving their difficulties rather than leaving them unsolved. They can also gain more their confidence which will contribute to their success in career. Apart from family, career is also another important aspect of life that can guarantee a happy life. Career is something that is able to translate whatever that has been learnt into action and experience. Career also provides financial security and status. It relates directly to one’s financial condition that determines his or her living standard. For example, when one is success is his career, he will be getting a high pay and eventually will be respected by the others where as a beggar who does not ave a job and does not get a high pay like the professionals will not respected by the society. When one is being respect by the society, he or she will then live a happy life. The good mix of progress, career opportunities, and job satisfaction makes a great career that adds the happiness in life. Career also provides a sense of self-achievement and success and this will definitely lead to a happy and contented life. Besides from family and career, social life is also one of the most crucial aspects of life in order to live a happy life. Community consists of people living in the same geographical area. People who are living in the same community generally have a same lifestyle and also a same cultural background. These similar rituals and practices bring the community people closer. For example, most people who are being brought up in a city will not feel happy if they are forced to live in a village as they will try to do things that suit the community, which is the happy life. A human being will always wants to do something nice and suitable for his society and countrymen, as he or she feels strongly for the community. After all the beauty of life lies in giving, that too gives a sense of belonging. This sense of belonging will help a person to live a happy and contented life as well. This is due to the fact that they do not have to force themselves to do something which is not comfortable to them but to suit the community. On the other hand, these people will feel that they belong to the particular community and proud to be part of them and eventually life a happy life. As a conclusion, the three most important aspects of life are family, career and social life. As family is the source of love and support, career being the source of income and social life includes the environment and community, all of these aspects can help one to live a happy life. They inspire and motivate people to go through the toughest of the situations as the challenge of the life is to overcome. All the above aspects of life bring meaning to one’s life and become the reasons to live. Although people will change and grow over the time, as that is the rule of nature, these various aspects of life make life enjoyable and worth living.