Dr. Jadhav, ., .
Designation: Professor and Head of the Department
Basic Discipline: Biochemistry (. in Marine Sciences).
Recognition: Recognised Teacher of the University of Mumbai to guide students seeking . and . Degrees.
E-mail: drbljadhav@ , drbljadhav@
Current Research Areas: Pharmacognosy, Nanoscience, Molecular Biology, Aquaculture. The main research areas are Drug development from medicinal plants, mainly mangroves, molecular biology of aquaculture; Fermentation technology; Herbal Nanotechnology.
Since being paid by his employer, Robert is holding a promise from his bank worth £11,000 while his bank holds a promise from Robert to pay £10,000 plus interest. Accountancy convention and banking regulation hold that the bank can only count on the interest when it is actually paid, so Robert’s promise is valued on the bank’s balance sheet at only £10,000. When Robert pays off his debt, the bank cancels liabilities of £11,000 and assets of only £10,000, leaving an excess of assets over liabilities on its balance sheet, a profit of £1,000 which it books as earnings. No other customer account in the banking system has been credited in the course of Robert’s loan repayment so the whole of Robert’s £11,000 has disappeared from the money stock. It’s the cancellation of the bank’s liability to Robert, and not the cancellation of its loan asset from Robert, which destroys money.