Nostro accounts are often used to simplify trade and foreign exchange transactions. When a bank needs to make a payment in a country where it doesn’t hold a Nostro account, it can use a bank with which it has a correspondent relationship to make the payment on its behalf. It’s also known as a Bank Identifier Code (BIC).But this is not the end of it, for there is virtual barrage of acronyms being thrown at me — LoU, FB, NFB and a zillion more which directed me towards investopedia, a website that focuses on investing education and financial news. Truth, it is said, has a mind of its own, and it always manages to emerge from the cracks, and be heard.But that is now past, for, raised on Mario Puzo’s Godfather and having watched the tripler based on his epic innumerable times, today I am faced with a new reality: Nostro.

He set up the "commission", which included bosses from seven families, to Wheel Hub 513365 rule all La غير مجاز مي باشدa Nostra activities. Aforensic audit conducted by Ernst and Young after some of these aberrations came to light proved conclusively that not only were there major lacunae in the system, rogue employees were constantly compromised and involved in trickery, deception anddefalcation. Confusion confounded? Yes, I know the feeling.Then there is CBS, no, not the American telly network famous for its iconic 60 Minutes show, but "core banking software" and SWIFT, again not the bestselling Maruti Suzuki hatchback which has recently been given a facelift. PNB also had exposure in two other massive fiddles — Winsome Diamonds and Shree Ganesh Jewellers. This refers to an account a bank holds in a foreign currency in another bank. A Nostro account is the record of the bank whose money is at another bank.There is learning from every scam, but never in the past have there been so many abbreviations to deal with.

Its non-fund based exposure to the same sector was another Rs 430 crores. It chose not to learn from these fias. These accounts are an essential aspect of correspondent banking, where the bank holding the funds acts ascustodian for or manages the account of a foreign counterpart. More than that, its echoes are inherent in the questions that people ask and they always reverberate loudly. As on March 31, 2017, the total fund-based exposure to the gems and jewellery sector was Rs 2,360 crores.All this brings me to the cult song Spinning Wheel, by Blood, Sweat and Tears 1968:What goes up must come down/ Spinnin’ wheel got to go ’round/ Talkin’ ’bout your troubles it’s a cryin’ sin/ Ride a painted pony let the spinnin’ wheel spin/ You got no money and you got no home/ Spinnin’ wheel all alone/Talkin’ ’bout your troubles and you, you never learn/ Ride a painted pony let the spinnin’ wheel turn.

Did you find the directing sign on the/ Straight and narrow highway/ Would you mind a reflecting sign/ Just let it shine within your mind/ And show you the colors that are real/ Someone is waiting just for you/ Spinnin’ wheel. FB is not Facebook, it is "fund based", while NFB is "non-fund based".Many years ago, at the height of the Ketan Parekh scam, at a news meeting of a very large national daily, I had a tough time explaining P Notes and their devious utility in stock market transactions — the general sense being how was a promissory note involved in the equity market, till I explained that a P Note was not a promissory note but a Participatory Note, which helps mask the identity of the actual investor as he uses the sub-account of an FII to invest in capital markets.

Researchers sought to test this theory in the laboratory. Each student was given five attempts to produce the most effective configuration, before responding to a questionnaire that tested their understanding of the physical mechanisms that impact the wheels speed.A team of researchers has found that the creation of effective technologies does not necessarily require an understanding of them."It also encourages us to be more prudent in the interpretation of archaeological remains in terms of cognitive capacities, as these abilities are not the only driver of technological evolution," researchers said. In other words, there was no link between the wheels performance and the participants level of understanding!Each individual produced more or less random configurations, and the combination of these individual trials and errors and of the copying of the fastest configurations proved sufficient for optimising the wheel.As the wheel increased in speed over the course of "generations," the understanding of individuals remained mediocre.

"This experiment illustrates the importance of cultural processes in the emergence of complex tools, as our ability to copy other individuals enables the emergence of technologies that no single individual could have invented alone," researchers said.Some anthropologists have consequently suggested that these technologies result not from our reasoning abilities, but from our propensity to copy other members of our group: small improvements are successively selected, leading to the emergence of technologies Toyota Wheel Hub 43550-47011 that are effective despite not being understood by individuals.In order to simulate the succession of human generations, researchers created chains of five individuals: each of them had access on a computer screen to the wheels configuration and effectiveness from the final two attempts made by the preceding participant. The transmission of false or incomplete theories could even prevent subsequent generations from developing a proper understanding of the system, in a way blinding them to a part of the problem.

In a second version of the experiment, the participants transmitted their final two attempts to the following individual, as well as a text describing their theory on the wheels effectiveness.Yet the effectiveness of traditional technologies such as bows or kayak depends on numerous parameters that remain difficult to understand and model, even for modern physicists..The results were similar, with the wheels gaining in speed, although once again without the individuals understanding why.The study published in the Journal Nature Human Behaviour says it is often believed that humans succeeded in producing complex tools and adapting to different environments make them more ingenious and inventive than other species. In order to do so, they recruited students to optimise a wheel travelling down on rails.