Finance Commission of India - Banking Awareness for Bank Exams 2014

Finance Commission - Banking Awareness for Upcoming Bank Exams 2014

The government has constituted the 14th Finance Commission under the chairmanship of former RBI Governor YV Reddy. The commission will submit its report by October 31, 2014.

Finance Commission of India:
A finance commission is set up every five years by the President under Article 280 of the Constitution. Finance Commission of India came into existence in 1951.

It was formed to define the financial relations between the centre and the state. These recommendations cover a period of five years.

The commission also lays down rules by which the centre should provide grants-in-aid to states out of the Consolidated Fund of India. It is also required to suggest measures to augment the resources of states and ways to supplement the resources of panchayats and municipalities.

Composition of the Fourteenth Finance Commission:
The Fourteenth Finance Commission has been set up under the Chairmanship of Dr. Y.V.Reddy [Former Governor Reserve Bank of India].

Other Members of the Commission are:
i. Ms. Sushma Nath [ Former Union Finance Secretary ],
ii. Dr. M.Govinda Rao [ Director, National Institute for Public Finance and Policy, New Delhi ),
iii. Dr. Sudipto Mundle, Former Acting Chairman, National Statistical Commission.
iv. Prof Abhijit Sen (Member, Planning Commission) is the part-time Member of the Fourteenth Finance
v. Commission. Shri Shri Ajay Narayan Jha is the Secretary, Fourteenth Finance Commission.

Qualifications of the members: The Chairman of the Finance Commission is selected among people who have had the experience of public affairs. The other four other members are selected from people who:

1. Are, or have been, or are qualified, as judges of High Court, or
2. Have knowledge of Government finances or accounts, or
3. Have had experience in administration and financial expertise; or
4. Have special knowledge of economics

Procedure and Powers of the Commission: The Commission has the power determine their own procedure and:

1. Has all powers of the civil court as per the Court of Civil Procedure, 1908.
2. Can summon and enforce the attendance of any witness or ask any person to deliver information or produce a document, which it deems relevant.
3. Can ask for the production of any public record or document from any court or office.
4. Shall be deemed to be a civil court for purposes of Sections 480 and 482 of the Code of Criminal Procedure, 1898

Tenure of the 14th Finance Commission: The Finance Commission is required to give its report by 31st October, 2014. Its recommendations will cover the five year period commencing from 1st April, 2015.

Note: The First Finance Commission was constituted vide Presidential Order dated 22.11.1951 under the chairmanship of Shri K.C. Neogy on 6th April, 1952.

Uttar Bihar Gramin Bank List of Selected Candidates for OfficeAssistants 2014

2013-14 Uttar Bihar Gramin Bank (UBGB) List of Candidates Shortlisted for Office Assistant (Multipurpose) Post

Uttar Bihar Gramin Bank has announced the Final Result of Office Assistant (Multipurpose) for which written Examination was held on Sept, 2013 by IBPS and Interview conducted from 24.02.14 to 27.02.14 at Head Office. The tentative date of joining at the Head Office is 7th April 2014.

Click here to view UBGB 2014 Final List of Office Assistant (Asst)

2014 Kerala Gramin Bank Interview Schedule of Office Assistants

Kerala Gramin Bank (KGB) Interview Schedule for Recruitment of Office Assistants (Multipurpose) 2013-14

Kerala Gramin Bank has released details of Date of Interview, Reporting Time and Venue Address of the Shortlisted Candidates for Interview. The interviews are scheduled to be held from 3rd March 2014 to 8th March 2014.

Venue Address :
KERALA GRAMIN BANK,
Head Office, KGB Towers, AK Road, Uphill,
Malappuram, Kerala – 676 505

Phone No. : (0483) 2733508, 2736987.

Click here to download KGB Interview Schedule of Office Assistants 2014.

DSSSB Recruitment Notification 2014

Delhi Subordinate Services Selection Board (DSSSB), Govt of NCT of Delhi issued vacancy notification for Medical / Teaching / Non-Academic Posts for filling up total 8100 Vacancies under Govt. of NCT of Delhi, Municipal Corporations of Delhi (SDMC, NDMC, EDMC), New Delhi Municipal Council, Autonomous Bodies of Govt. of NCT of Delhi. Date of application is Extended up to 18/03/2014

How To Apply:
Eligible candidates are required to apply online on or before 27/02/2014 (Extended up to 18/03/2014).

Click here to download Advertisement of Delhi Subordinate Services Selection Board (DSSSB) Recruitment 2014.

Click here to apply online.

TNPSC Group II Recruitment of Clerks and Assistants Notification 2014

Tamil Nadu Public Service Commission (TNPSC) Group 2 A Services Recruitment Advertisement 2013-14

Applications are invited only through online mode upto 05.03.2014 for admission to the Written Examination for direct recruitment against the vacancies for the year 2013-2014 in the posts included in Combined Civil Services Examination–II (Non-Interview Posts) (Group-II A Services).

Total number of vacancies: 2269

Last date for submission of applications: 05.03.2014
Last date for payment of Fee through Bank or Post Office: 07.03.2014
Date of Written Examination: 18.05.2014 10:00 A.M. to 1:00 P.M.

Fee:
For Written Examination :Rs.125/- (Examination Fee Rs. 75/- + Cost of Application Rs.50/- (Rupees One hundred and twenty five only)

Click here to download Notification of TNPSC Group II Recruitment 2014.

To apply Online:
Click here for Link 1
Click here for Link 2

AP Forest Department Recruitment Notification 2014

Andhra Pradesh Forest Department, Hyderabad Recruitment 2014-15

Applications are invited Online through the specified format between 17.02.2014 and 3.03.2014 for recruitment to the post of Forest Section Officer, Forest Beat Officer,
Asst. Beat Officer, Bunglow Watcher, Thanadar and Technical Assistant in A.P. FOREST DEPARTMENT.

Age Limit: 18 to 36 Years as on 01/07/2014. Age Relaxation to SC / ST and BC candidates is 41 years.

How to apply:
Eligible persons apply online on or before 03/03/2014 through
Click here for Link 1
Click here for Link 2

Click here to view AP Forest Department Recruitment Advertisement 2014

Capital Market - Banking Awareness For Bank Exams

CAPITAL MARKET

Capital Market is one of the significant aspects of every financial market. Broadly speaking, the capital market is a market for financial assets which have a long or indefinite maturity. Unlike money market instruments the capital market instruments become mature for the period above one year.

Capital Market is an institutional arrangement to borrow and lend money for a longer period of time. It consists of financial institutions like IDBI, ICICI, UTI, LIC, etc. These institutions play the role of lenders in the capital market. Capital market involves various instruments which can be used for financial transactions. Capital market provides long term debt and equity finance for the government and the corporate sector.

Capital market can be classified into primary and secondary markets. The primary market is the market for new shares, whereas as in the secondary market the existing securities are traded. Capital market institutions provide rupee loans, foreign exchange loans, consultancy services and underwriting.

Capital market plays an important role in mobilizing resources, and diverting them in productive channels. In this way, it facilitates and promotes the process of economic growth in the country.

Various functions and significance of capital market are discussed below:

1. Link between Savers and Investors:

The capital market functions as a link between savers and investors. It plays an important role in mobilizing the savings and diverting them in productive investment. In this way, capital market plays a vital role in transferring the financial resources from surplus and wasteful areas to deficit and productive areas, thus increasing the productivity and prosperity of the country.

2. Encouragement to Saving:

With the development of capital, market, the banking and non-banking institutions provide facilities, which encourage people to save more. In the less- developed countries, in the absence of a capital market, there are very little savings and those who save often invest their savings in unproductive and wasteful directions, i.e., in real estate (like land, gold, and jewellery) and conspicuous consumption.

3. Encouragement to Investment:

The capital market facilitates lending to the businessmen and the government and thus encourages investment. It provides facilities through banks and nonbank financial institutions. Various financial assets, e.g., shares, securities, bonds, etc., induce savers to lend to the govern­ment or invest in industry. With the development of financial institutions, capital becomes more mobile, interest rate falls and investment increases.

4. Promotes Economic Growth:

The capital market not only reflects the general condition of the economy, but also smoothens and accelerates the process of economic growth. Various institutions of the capital market, like nonbank financial intermediaries, allocate the resources rationally in accordance with the development needs of the country. The proper allocation of resources results in the expansion of trade and industry in both public and private sectors, thus promoting balanced economic growth in the country.

5. Stability in Security Prices:

The capital market tends to stabilize the values of stocks and securities and reduce the fluctuations in the prices to the minimum. The process of stabilization is facilitated by providing capital to the borrowers at a lower interest rate and reducing the speculative and unproductive activities.

6. Proper Regulation of Funds:

Capital markets not only help in fund mobilization, but it also helps in proper allocation of these resources. It can have regulations over the resources. It can have regulations over the resources so that it can direct funds in a qualitative manner.

 

7. Benefits to Investors:

The credit market helps the investors, i.e., those who have funds to invest in long-term financial assets, in many ways:

(a) It brings together the buyers and sellers of securities and thus ensures the marketability of investments,

(b) By advertising security prices, the Stock Exchange enables the investors to keep track of their investments and channelize them into most profitable lines,

(c) It safeguards the interests of the investors by compensating them from the Stock Exchange Compensating Fund in the event of fraud and default.

28 February 2014 Current Affairs For SSC and All Competitive Exams

1.  Sonia to go in for president rule in Andhra

AICC general secretary and state party affairs in-charge Digvijay Singh hinted on Thursday that the Central Cabinet would impose President’s Rule in Andhra Pradesh.

Congress president Sonia Gandhi met Mr Singh, Union home minister Sushilkumar Shinde and her political secretary Ahmed Patel, on Thursday, to take stock of the situation after the resignation of Chief Minister N. Kiran Kumar Reddy.

AICC leaders were of the opinion that in the present situation, imposing President’s Rule in the state will be the better option.

Sonia Gandhi agreed and gave the green signal for imposing President’s Rule in the state. After the meeting, Digvijay Singh told the media that the Central Cabinet will take a final decision on Friday.

When asked about the merger of the Telangana Rashtra Samiti with the Congress, Mr Singh said, “We have confidence and believe KCR’s word, what he told us in the past about merging the TRS with the Congress.”

2. AAP to field Rajmohan Gandhi from East Delhi

Mahatma Gandhi's grandson and noted academic, Rajmohan Gandhi, will be the Aam Aadmi Party’s (AAP) candidate from East Delhi Lok Sabha constituency, a seat currently held by Sandeep Dikshit, son of the former Delhi Chief Minister Sheila Dikhsit.

3. Gujarat, UP, MP netas join Jayalalithaa

Signalling its pan-India expansion, members of various parties from Uttar Pradesh, Madhya Pradesh and Gujarat joined ruling AIADMK on Thursday in the presence of party supremo and Tamil Nadu Chief Minister Jayalalithaa.

A total of 201 leaders and members of parties such as Congress, Samajwadi Party and JD(U) from Gujarat, Uttar Pradesh and Madhya Pradesh received AIADMK membership cards from Ms Jayalalithaa at the party headquarters here, an AIADMK release said.
UP JD(U) unit general secretary Rakesh Kumar, NCP leader Yogendra Kumar Pandey, SP Muzaffarnagar district secretary Bhopal Shaini and UPCC member Sanjay Shaini were among those who joined the AIADMK and the initiative for this was taken by RS MP V. Maithreyan, it said.

The development comes amid calls for a larger national role for Ms Jayalalithaa after the LS elections and days after she unveiled her party’s manifesto assuring to raise I-T exemption limit to Rs 5 lakh and extension of freebies to the entire country.

4. Country’s first post office savings bank ATM

Union Finance Minister P. Chidambaram on Thursday inaugurated the country’s first post office savings bank ATM at the Head Post Office in Thyagaraya Nagar, Chennai. The ATM was part of an Information Technology (IT) modernisation project of the Department of Posts.

A total of Rs. 4909 crore had been allotted for the modernisation in the interim budget by Mr. Chidamabaram. This the Core Banking Solutions (CBS) scheme would benefit as much as 1,55,000 post offices. The launching of the ATM was a step towards making the department a completely technology oriented one.

The ATM would run on a trial basis for six months. Afterwards, it would become an interoperable where cards of other banks could be used.

Keeping in view the future of post offices in the IT era where sending letters and post cards had become a rarity, the department was inventing new strategies to keep itself on the growth trajectory. For parcel services, people still preferred the post office.

Secretary of Department of Posts Padmini Gopinath said about 2800 such ATMs would be installed by end of 2015. Sixty-two post offices covering 64 lakh accounts had already migrated to CBS and over 26,840 post offices will adopt CBS by 2016. All account holders will be provided with an ATM card. The postal department was also toying with the idea of starting e-commerce services in rural areas to improve its earnings.

5. ICICI Bank launches ‘branch on wheels’ in Odisha

ICICI Bank today launched ’branch on wheels’ in Odisha as part its financial inclusion plan to provide banking services in remote villages in the state which are devoid of banking facilities.

6. Indian Navy Chief Resigns

Indian Navy Chief Adm. D.K. Joshi has resigned, claiming “moral responsibility” for the Feb. 26 fire of a Russian-made Kilo-class submarine, INS Sindhuratna. The government accepted the resignation with immediate effect.

7. Dinesh Sarraf appointed next ONGC chief

Dinesh Sarraf appointed as next Chairman and Managing Director (CMD) of Oil and Natural Gas Corporation (ONGC).

8. Turkish President approved the bill restricting the judicial powers

Turkish president Abdullah Gul approved the bill on restricting the judicial powers on 26 February 2014. This bill is about curbing the independence of the judicial powers.

The bill will give more control to the Justice ministry in comparison to the Supreme Board of Judges and Prosecutors. This body is an independent body which deals with the appointment of the judiciary.

In another development, the Turkish parliament approved another bill putting restrictions on internet. The law would permit the telecommunication authority to close the websites for violation of privacy. However, the authority would still need court’s approval within 24 hours. The authority would also have to obtain a court order to access records of user activity.

9. Sourav Kothari won the National Billiard Championship title

ourav Kothari won the National Billiard Championships held in Lucknow on 26 February 2014. He beat Alok Kumar by 5-3. This is the first maiden title for Saurav Kothari since he turned professional in 2007.

Sourav Kothari and Alok Kumar both play for Petroleum Sports Promotion Board (PSPB).

Third position was secured by B. Bhaskar who beat Dhruv Sitwala.

Saurashtra Gramin Bank Recruitment of Officers (Scale - I & II) andOffice Assistants 2014

Saurashtra Gramin Bank Recruitment of Officers Scale - 1, Scale - 2 and Office Assistants 2014

Saurashtra Gramin Bank invites applications from Indian citizens, for the post of Officer in Middle Management Grade (Scale II), Officer in Junior Management (Scale I) Cadre and Office Assistant (Multipurpose) from Indian citizens who have been declared qualified at the Online CWE for RRBs conducted by IBPS during September/ October 2013 and declared qualified.

Payment of Application Fees: 26.02.2014 to 14.03.2014
Opening date for Online Registration: 26.02.2014
Last Date for Online Registration: 14.03.2014

Click here to download notification of Saurashtra Gramin Bank Recruitment of Officers and Office Assistants 2014.

Click here to apply online for Saurashtra Gramin Bank Recruitment 2014

West Bengal Co-operative Service Commission (WBCSC) RecruitmentNotification 2014

West Bengal Co-operative Service Commission (WBCSC) Kolkata invites applications on the prescribed format for filling up posts in various Co-operative Institutions. Eligible Indian Citizens Apply Online or Offline on or before 18th March 2014.

Total number of vacancies Co-operative Banks) : 78

Click here to download West Bengal Co-operative Service Commission (WBCSC) Recruitment Advertisement 2014

United Commercial Bank (UCO) Recruitment of PO, Credit Officers andClerks Notification 2014

The UCO Bank is going to recruit various Banking posts: Probationary Officers, Credit Officers and Clerks through Institute of Banking Personnel Selection (IBPS).

Total number of vacancies: 4000

Post Name	Total Vacancies
Probationary Officers in JMGS-I	1300
Credit Officers (with qualification in CA, ICWA, MBA) in MMGS-II	600
Clerks	2100

Click here to view United Commercial Bank (UCO) Recruitment of  Officers and Clerks Advertisement 2014

Latest Banking Awareness for Bank Exams 2014

1. Bimal Jalan Committee submits report on bank licences

The four-member Bimal Jalan Committee on new bank licences has submitted its report to the Reserve Bank of India (RBI) on February 25, 2014.

Emerging out of a nearly four-hour long meeting in the capital, Jalan confirmed that he had submitted the report.

He however declined to elaborate or comment on the recommendations.

2. What is Certificate of Deposit?

Certificate of Deposit (CD)

A certificate of deposit (CD) is a negotiable money market instrument and issued in dematerialised form or as a Usance Promissory Note issued by a bank. It is a time deposit that restricts holders from withdrawing funds on demand. Although it is still possible to withdraw the money, this action will often incur a penalty.

A CD bears a maturity date, a specified fixed interest rate and can be issued in any denomination. CDs are generally issued by commercial banks and are insured by the FDIC. The term of a CD generally ranges from one month to five years.

CDs may be issued at a discount on face value. Banks / FIs are also allowed to issue CDs on floating rate basis provided the methodology of compiling the floating rate is objective, transparent and market-based. The issuing bank / FI is free to determine the discount / coupon rate. The interest rate on floating rate CDs would have to be reset periodically in accordance with a pre-determined formula that indicates the spread over a transparent benchmark. The investor should be clearly informed of the same.

SSC CGL (Tier-1) 26-6-2011 (2nd Meeting) Exam - English With Key

SSC CGL Exam 2011 Questions paper held on 26.06.2011. General English Questions for SSC CGL Exam 2014 - 15. These questions are collected from SSC CGL Exam 2011 held on 26.06.2011.

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I will post one new post to suggest you on how to prepare for SSC CGL EXam 2014 within 2 days. Thank You!..

SSC CGL Reasoning Questions from Previous Exam Held on 16.05.2010

Reasoning questions from previous SSC CGL Exam Question paper held on 16th May 2010. These are useful for SSC CGL Exam April 2014. Start reading for the exam.

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It needs lot of time to prepare for SSC Exams. So, read the basics and practice the papers.

25 February 2014 Current Affairs for SSC and Bank Exams

25-02-2014 Current Affairs Updates for SSC CGL and Bank Exams

1. Indira Paryavaran Bhawan inaugurated by Prime Minister

Manmohan Singh, the Prime Minister of India on 25 February 2014 inaugurated Indira Paryavaran Bhawan on Jorbagh Road, New Delhi. This Bhawan will house the Ministry of Environment and Forest and has a provision to accommodate its 600 officials.

The Bhawan is India’s first on site Net Zero Building built by the adoption of Solar Passive design and energy efficient building material. This has been designed as the highest-green rated building i.e., GRIHA 5-Star and LEED India Platinum. The requirements of GRIHA 5-Star and LEEDS Platinum ratings have been achieved by adopting various measures some of which are as follows

• Effective Ventilation has been achieved by orientating the building in an East-West direction, separating different blocks with connecting corridors and having a large central court yard.

• The design is such that 75% of natural daylight is utilised to reduce energy consumption.

• The entire building has an access friendly design for differently-abled persons.

• With an Installed capacity of 930 KW peak power, the building has the largest roof top Solar system among Multi storied buildings in India.

• Total energy savings of about 40% has been achieved by adoption of energy Efficient Chilled Beam system of Air Conditioning. This is an innovative air conditioning system, where air conditioning is done by convection currents rather than air flow through diffusers and chilled water is circulated right up to the diffuser points unlike the conventional systems.

• Green materials have been used like Fly ash bricks, regional building materials, materials with high recycled content, high reflectance terrace tiles and rock wool Insulation of outer walls.

• Rapidly renewable Bamboo Jute Composite material has been used for door frames & shutters.

• UPVC windows with hermetically sealed double glass, Calcium Silicate ceiling tiles having high recycled content and grass paver blocks in pavements and roads.

• Reduction in water consumption has been achieved by use of Low discharge water fixtures, recycling of waste water through Sewage Treatment Plant, use of plants with Low water demand in landscaping, use of Geothermal cooling for HVAC system, rain water harvesting and use of curing compounds during construction

This project has been developed at an expense of about 209 crore rupees. The Indira Paryavaran Bhavan building has already received the following awards:

• February 2013: The Project received an award from Adarsh/GRIHA of MNRE for exemplary demonstration of Integration of Renewable Energy Technologies

• January 2014: The Project was accorded 5-Star Green Building Certification by GRIHA under MNRE

2. Nokia to use Android operating system of Google

Nokia announced to launch new series of handset with the use of Android on 25 February 2014. Nokia will switch to Smartphone that use Google’s Android operating system rather than the Windows Phone software from Microsoft.

3. Ugandan President signed anti-gay bill

The Ugandan President Yoweri-Museveni signed anti-gay bill on 24 February 2014 which imposes tough penalties for homosexual acts.

4. Egypt's Interim Prime Minister Hazem El-Beblawi resigns with his cabinet.

He, an Army appointee, had come to power after ex-president Mohamed Morsi’s government was deposed by the Army amidst escalating mass protests against his rule last July. The country has been in constant state of political flux since the outbreak of Arab Spring.

5. Jayant Vishnu Narlikar to receive Y Nayudamma memorial award 2013 for his notable contributions in astronomy and astrophysics.

The annual honour is awarded to scientist and technologist for their worthy contributions. Its named after acclaimed leather technologist and scientist Nayudamma.

6. KCR meets PM

TRS chief K Chandrashekhar Rao met Prime Minister Manmohan Singh on Tuesday to thank him for getting the Telangana Bill passed in Parliament and also discussed issues related to the new state.
Emerging out of the meeting, TRS leader and MP Manda Jagannath said the "purpose of the visit was first to thank the Prime minister for the initiative".

He said Rao and other leaders raised issues like shortage of power in Telangana, creating an AIIMS-like institution in the state, gas allocation and also sought the central government's help in maintaining the world class image of Hyderabad city.

"Any merger or alliance (between TRS and Congress) will take place in due time depending on the issues discussed and agreement reached," Jagannath said.

7. Jaya releases party manifesto for LS polls

A day after declaring the list of candidates for the Lok Sabha polls, AIADMK supremo and Chief Minister Jayalalithaa on Tuesday released the party's manifesto for the elections, promising development of the state and in the country.

"In the election manifesto of AIADMK, we have spelt out many policies and promises to implement schemes aimed at not only the development and growth of Tamil Nadu but the development and growth of Indian nation," she said.

Jayalalithaa released the manifesto here at AIADMK headquarters a day after she announced candidates for all 39 Lok Sabha Seats in her state besides the lone Puduchery constituency.

8. No more marriages in party offices: Kerala High Court

Kerala High Court has held as invalid marriages conducted at the offices of CPI(M) and other political parties. The ruling in this regard was passed on Monday by a division bench comprising justices Antony Dominic and Anil K Narendran on a habeas corpus petition filed by the father of a young woman seeking custody of his daughter, who went missing on February 10.

The police produced the woman and informed the court that she had got married on February 19 at the CPI(M) local committee office at Nedumudi in Kuttanad.

The bench then held that the marriage was not legally valid as it should either be solemnised before a marriage officer appointed under statutory provisions or as per religious rites.

Marriages held at the office of the political parties should not be allowed to be registered under the Kerala Registration of Marriages (Common) Rules 2008, the bench held and directed the Secretary of state and Local-self Government department to issue appropriate directions to their subordinates to prevent such practices.

9. Somdev Devvarman captures his 3rd ATP men's singles tennis title demolishing Aleksandr Nedovyesov 6-3, 6-1 in the final held in Delhi.

It was his fourth Challenger level final.
1st Title: Lexington (US) in 2008
2nd Title: Izmir (Turkey) in 2010

10. Del Potro retires with wrist injury in Dubai

Second-seeded Juan Martin del Potro retired in his first-round match against Somdev Devvarman of India after losing the first-set tiebreaker 7-6 (3) at the Dubai Championships on Tuesday.

Commercial Paper (CP) - Banking Awareness For Bank Exams 2014

Commercial Paper (CP): Commercial Paper (CP) is an unsecured money market instrument issued in the form of a promissory note.

Introduced in India: Commercial Paper in India is a new addition to short-term instruments in Indian Money market since 1990 onward.

The introduction of Commercial paper as the short-term monetary instrument was the beginning of a reform in Indian Money market on the background of trend of Liberalization which began in the world economy during 1985 to 1990.

Purpose to introduce Commercial Paper:

It was introduced in India in 1990 with a view to enabling highly rated corporate borrowers to diversify their sources of short-term borrowings and to provide an additional instrument to investors.

Subsequently, primary dealers and all-India financial institutions were also permitted to issue CP to enable them to meet their short-term funding requirements for their operations.

Issuers of Commercial Paper:

The issuers of Commercial papers in Indian money market are broadly classified into:

i. Leasing and Finance Companies

ii. Manufacturing companies

iii. Financial Institutions

During the decade of 2000-01 to 2010-11, Leasing and finance companies had the average share of 70% of total issue of Commercial papers; while Manufacturing companies and Financial institutions had the average share of 15% each.

Whether all the corporate would automatically be eligible to issue CP?

No. A corporate would be eligible to issue CP provided –

i. the tangible net worth of the company, as per the latest audited balance sheet, is not less than Rs. 4 crore

ii.. company has been sanctioned working capital limit by bank/s or all-India financial institution/s; and

iii. the borrowable account of the company is classified as a Standard Asset by the financing bank/s/ institution/s.

Is there any rating requirement for issuance of CP? And if so, what is the rating requirement?

Yes. All eligible participants shall obtain the credit rating for issuance of Commercial Paper either from:

i. Credit Rating Information Services of India Ltd. (CRISIL) or

ii. Investment Information and Credit Rating Agency of India Ltd. (ICRA) or

iii. Credit Analysis and Research Ltd. (CARE) or

iv. FITCH Ratings India Pvt. Ltd. or

v. Such other credit rating agency (CRA) as may be specified by the Reserve Bank of India from time to time, for the purpose.

NOTE:-  1. The minimum credit rating shall be A-2 [As per rating symbol and definition prescribed by Securities and Exchange Board of India (SEBI)].

2. The issuers shall ensure at the time of issuance of CP that the rating so obtained is current and has not fallen due for review.

Minimum and maximum period of maturity prescribed for CP:

CP can be issued for maturities between a minimum of 7 days and a maximum of up to 1 year from the date of issue.

However, the maturity date of the CP should not go beyond the date up to which the credit rating of the issuer is valid.

In what denominations a CP that can be issued:

CP can be issued in denominations of Rs.5 lakh or multiples thereof.

How long can the CP issue remain open?

The total amount of CP proposed to be issued should be raised within a period of two weeks from the date on which the issuer opens the issue for subscription.

CP can be issued on different dates by the same issuer:

CP may be issued on a single date or in parts on different dates provided that in the latter case, each CP shall have the same maturity date. Further, every issue of CP, including renewal, shall be treated as a fresh issue.

Who can act as Issuing and Paying Agent (IPA):

Only a scheduled bank can act as an IPA for issuance of CP.

Who can invest in CP:

Individuals, banking companies, other corporate bodies (registered or incorporated in India) and unincorporated bodies, Non-Resident Indians (NRIs) and Foreign Institutional Investors (FIIs) etc. can invest in CPs.

However, investment by FIIs would be within the limits set for them by Securities and Exchange Board of India (SEBI) from time-to-time.

CP can be held in Dematerialized (Demat) form:

CP can be issued either in the form of a promissory note (Schedule I given in the Master Circular-Guidelines for Issue of Commercial Paper dated July 1, 2011 and updated from time –to-time) or in a dematerialised form through any of the depositories approved by and registered with SEBI. Banks, FIs and PDs can hold CP only in dematerialised form.

2014 Pandyan Grama Bank (PGB) Recruitment of Officers (Scale - I, II &III) Notification Out

2014 Pandyan Grama Bank (PGB) Recruitment of Officers Scale - 1, Scale - 2 & Scale - 3 Advertisement Out

Pandyan Grama Bank invites applications from Indian citizens, for the post of Officer in Middle Management Grade (Scale III), Officer in Middle Management Grade (Scale II), Officer in Junior Management Grade (Scale I) Cadre, who have been declared qualified at the Online CWE for RRBs conducted by IBPS during September/ October 2013.

Payment of Application Fees: 25.02.2014 to 13.03.2014
Opening date for Online Registration: 25.02.2014
Last Date for Online Registration: 13.03.2014

Eligibility Criteria:
Language Proficiency for Officer Scale-I - Candidates are required to possess proficiency in the Tamil Language and must have passed “TAMIL” as one of the subject at matriculation/ Xth Standard.

Application Fee:
- Rs. 20/- for SC/ST/PWD candidates.
- Rs.100/- for all others

Click here to download notification of Pandyan Grama Bank Recruitment 2014.

Click here to download Challan.

Click here to apply online for Pandyan Grama Bank Officers Exam 2014.

2014 Sarva Haryana Gramin Bank Final List of Selected Candidates forOfficer Scale - I

2013-14 Sarva Haryana Gramin Bank Joining Schedule - Recruitment of Officer Junior Management Scale - 1

Sarva Haryana Gamin Bank has announced the final result of list of selected candidates for the post of Officer Junior Management Scale-I.

Reporting Date : 19th March 2014 to 22nd March 2014

Time 9.30 am

Venue: Head Office, Rohtak.

Appointment Letters are being sent to individual selected candidates at the addresses mentioned by them.

Click here to download Sarva HGB list of shortlisted candidates for officer scale-1 post.

Click here to know pre-joining formalities.

AP Chaitanya Godavari Grameen Bank (CGGB) Recruitment of Officers(Scale - I, II & III) and Office Assistant 2014 Notification

2014 Chaitanya Godavari Grameen Bank (CGGB) Recruitment of Officers Scale - 1, Scale - 2, Scale - 3 and Office Assistant (Multipurpose) Advertisement Out

Chaitanya Godavari Grameen Bank invites applications from Indian citizens, for the post of Officer in Middle Management Grade (Scale III), Officer in Middle Management Grade (Scale II), Officer in Junior Management (Scale I) Cadre and Office Assistant (Multipurpose) from Indian citizens who have been declared qualified at the Online CWE for RRBs conducted by IBPS during September/ October 2013.

Payment of Application Fees - 25.02.2014 to 13.03.2014
Opening date for Online Registration - 25.02.2014
Last Date for Online Registration - 13.03.2014


Eligibility Criteria:
Language Proficiency: The candidates for Officer Scale-I and Office Assistants (Multipurpose) are essentially required to possess proficiency in the local language of the State i.e. TELUGU for which vacancies he/she wishes to apply, to be eligible for recruitment in the above cadres. (The condition does not apply for the posts of Officers Scale-II & III). For ensuring proficiency in local language, the candidate should have passed 10th standard exam with local language i.e. TELUGU as one of the subject.

Application Fee:
Officers
- Rs. 20/- for SC/ST/PWD candidates.
- Rs.100/- for all others

Office Assistant (Multipurpose)
- Rs. 20/- for SC/ST/PWD/EXSM candidates.
- Rs.100/- for all others

Requisite Application Fee may be paid through CBS at any of the Branches of Chaitanya Godavari Grameena Bank by means of a Payment Challan. The payment towards application fee through CBS can be made between 25.02.2014 and 13.03.2014.

Click here to download CGGB Advertisement - Recruitment IBPS CWE-II for RRBs

Click here to download Challan Proforma

Click here to apply online for CGGB Recruitment IBPS CWE-II for RRBs

2014 Allahabad UP Gramin Bank (AUPGB) Final Result for Recruitment ofOfficer Scale - I

2013-14 Allahabad UP Gramin Bank Category-wise Final List of Selected Candidates for Recruitment of Officer Junior Management Scale - 1

Allahabad UP Gramin Bank has announced Finally selected candidates for the Post of Junior Management Scale-I, on the basis of Common Written Exam-II for Regional Rural Bank conducted by IBPS Mumbai and Interviews held from 10th to 14th February 2014 at Head Office Banda.

Selected Candidates have to report as per following schedule on 04.03.2014 & 05.03.2014 (09.00 AM) at Allahabad UP Gramin Bank, Head Office, D.M. Colony, Civil Lines, Banda for completion of Pre Joining formalities.

After completion of formalities, the candidates have to report at their respective place of posting at 10.00 A.M. on 07.03.2014.

Documents required as mentioned in appointment letter (original and one set photo copy) :-
1. Medical Fitness (in Bank's prescribed format) issued by the Government Hospital.
2. Five (5) copies of recent passport size colour photographs of the candidate.
3. High School/Higher Secondary Pass Certificate showing Date of Birth.
4. Academic Qualification/Graduation /Degree Certificate and Mark Sheets of each year/Semester including consolidated Marks Sheets.
5. Certificates regarding passing of Computer Course and Professional Qualification (if any).
6. Three Character Certificate, Out of which one must be from the Principal /Head of the Deptt. Of the College/University last attended/last Employer and remaining two from Gazetted Officers.

Click here to download the AUPGB Scale-1 Officer Selected Candidates Results.

Click here to download Medical Certificate.

Click here to downlod Financial cum Surety Bond.

2014 Punjab Gramin Bank List of Selected Candidates for Interview ofOfficer Scale - I

Punjab Gramin Bank (PGB) has announced list of Shortlisted candidates called for Interview for the post of Officer Junior Management Scale-1.

Punjab Gramin Bank (PGB) Scale-1 Officer Interview Schedule

Click here to View SC Category Scale-1 Officer Interview Schedule Notification

Click here to View ST Category Scale-1 Officer Interview Schedule Notification

Click here to View OBC Category Scale-1 Officer Interview Schedule Notification

Click here to View PWD Category Scale-1 Officer Interview Schedule Notification

Click here to View General Category Scale-1 Officer Interview Schedule Notification

Real Interview Experience of IBPS CWE Clerk III 2014 Shared ByParticipant

Name : Ronnie Francis

State : Maharashtra

Category : General

Score : 121

Venue : Bank Of Maharashtra, Staff Training Centre, Trimurti Nagar

Date : 21-02-2014

Reporting Time : 8:30 AM

Panel : IV

Duration : 14-15 mints

I reached the venue at 8:30 am, soon after that we were asked to move to 2nd floor where we were given instructions for document verification, Sequence in which we were suppose to arrange them, then they took our attendance, very first person in our panel was Absent :p. They started with the document verification, very fast…my serial Number was 23 . Finally My turn came at 12:05 Pm.
I Gently Opened the Door, Said Sir, May i come in.. they replied Plz come in
Wished them..individually, starting from F1
Four Members 3 male M1 M2 M3(All in their 50’s Looking very Professional) and one Female F1(In 30’s) (Starting from Extreme Left)
One of them- Please take your seat.
Me- Thank You Sir.
M2- Where are u from proper?
Me- Sir I am born in Nagpur, Brought Up in umred.
M2- Umred is close by right?from Nagpur?
Me- Yes Sir
M2- Marathi Aati?
Me- Sir aati hai but fluency nai hai..Muje padhna ache se aata..aur pura samajhta hai, I mentioned them that in my previous company where I worked for 1 year..i used to talk to the labors in Marathi language only.and I spoke this sentence in Marathi..just to show them I cn speak as well.
They were convinced after this. Took a deep Breath(Language Problem Solved)
M2- Tell me about your education background?
Me- Sir I have completed my Bsc Computer Science after that I have pursued my MBA. Currently I am working for XYZ Co.
M2- How much is your score?
Me- Replied
M2- First attempt
Me-yes Sir
M2- Started Asking me about the Company Profile, Name of the MD, My Designation there. Near about 3-4 minutes we discussed about my company
M2- You are Christian Right?
Me- Yes Sir. Now regarding Christianity we had some discussion near about 4-5 minutes he was asking in details..about our prayers. How we follow Christianity ..So far everything went fine…now finally it was time for some technical questions..
M2- What is Corporate governance?
Me- Sorry sir, I red it..cant remember but (It was really there in my Notes..i did not revise it..and cudnt remember any part of it)
M2-Delegation of authority kya hota hai?
Me- Even here I failed to answer but…
M2-apni Authority kisi ko delegate karna..
Me-when he said this..i just tried to tell him the answer..logically what I understood..he was convinced.
M2- One more question he asked..i was hearing that word for the first time..
Me- Sorry sir Don’t know
M2 –Arre MBA kia hai na aapne..ye sab to aana chaiye
Me: Silent
M2- Can a Minor Open account with any bank?
Me- Replied Yes Sir
M2- Papa Kya karte hai ?
Me-Replied I lost my father when I was 5
M2-Kon kon hai ghar mei
Me- Replied
M2:- Ghar kaise chalate?
Me- Replied, Sir me and my sister both work and manage
M2- ok
F1- Mummy Kya karte hai?
Me- Replied Ma’am I Lost her just 4 months back..
M1- Hobbies kya kya hai tumharei?
Me- Replied
M2- Asked M3 to ask questions to me..
M3 DIGC kya hai?
Me- Expanded D and I and fumbled..M3 completed and asked me what is it now? I cudnt answer that as well( Felt so embarrassed)
M3 Pointed to M1 to ask questions
M1: Public ltd company or pvt ltd co mei kya diff hai?
Me- Replied with one point and other point I said..it was wrong..there I got confused..said sorry sir.
M1 Pointed to F1 to ask questions
F1-Priority sector lending k under kya kya aata hai?
Me- Replied
F1- Kya RBI ne koi guidelines di hai..how much percent for it?
Me- I knew this..still said no..As after I failed to answer so many questions…I simply said no..
M2- said some word and asked..kaise banta hai?
Me- Sorry sir first time sun raha ye word..
M2- Arre it’s a non-vegetarian dish
Me- Sorry sir..never heard of it.
Finally they asked me to leave
I thanked them Individually, Starting from F1..

That is it friends..If I compare my this interview Exp with previous one which was for Maharashtra Gramin bank..I am not at all happy, As I was not able to answer many of the questions asked by the panel members. But still I kept my self calm n cool, I was confident and I always maintained a Smile on my face and eye contact with each of the Panel Members..Even when I was leaving..i gave them a smile and thanked each of them. We had more general conversation and very few technical questions. I am scared now..I hope it wasn’t too bad, At least they should give me Average marks.
Fingers Crossed..Waiting for the final result..if I get selected friends..Next what I am going to share with you, will be my Success Story.. J

My Suggestion : Be confident, Don’t get nervous. They are not checking only your knowledge..there are many other things which they are going to observe in you. And after going thru this exp, I wud say..ppl who mention MBA, Be prepared for some tough questions.

Daily Current Affairs Updates For SSC CGL Exams Dt: 24-02-2014

1. RIL Contract can't be Terminated: Moily to Prime Minister

Amidst controversy over gas price hike, Oil Minister M Veerappa Moily has told Prime Minister Manmohan Singh that Reliance Industries' contract for KG-D6 gas fields cannot be terminated pending arbitration on issue of output lagging targets.

Moily in a 13-page letter to the Prime Minister explained the process, the contractual requirement and the steps followed for raising natural gas prices from April 1, without which several gas fields of both private sector firm RIL and state-owned ONGC would be economically unviable to produce.

Rebutting allegations by the AAP and its leader Arvind Kejriwal that the price increase was done to benefit RIL, Moily on February 14 wrote to Singh saying ONGC's average cost of producing natural gas was about USD 3.6 per million British thermal unit in 2012-13 and its newer finds in deepsea cost more than current rate of USD 4.2.

Public sector firms ONGC and Oil India Ltd (OIL) account for about 80 per cent of India's gas production and will be the major beneficiary of gas rates going up from USD 4.2 to USD 8.

2. AAP's credibility undermined by 'cut and run' strategy: Manish Tewari

A day after Arvind Kejriwal accused a section of media of bias, I&B minister Manish Tewari today said Aam Admi Party had failed to take the heat of media scrutiny after it chose to form a government and had undermined its credibility with its 'cut and run' strategy. He also took an aim at the BJP and its prime mnisterial candidate Narendra Modi, accusing them of being intolerant.

3. Bureaucracy tried to cook up something: General V K Singh over troop movement

Amidst a fresh controversy over movement of Army units towards Delhi in 2012, former Army Chief Gen V K Singh on Monday said the bureaucracy had tried to ‘cook up’ something even though it was a routine exercise.

To buttress his point, he cited a statement given by former DGMO Lt Gen A K Choudhary who had been called by the then Defence Secretary to explain the troop movement. "DGMO has clearly said that it was a routine exercise...he was called at night, why was he called and for what reason...on the other hand our political leadership has made it clear that nothing was wrong. So, it means something was being cooked up within the bureaucracy. I have already said it is a fable of sick mind," Singh told reporters.

4. Sochi Olympics end

Flushed with pride after its athletes' spectacular showing at the costliest Olympics ever, Russia celebrated Sunday night with a visually stunning finale that handed off a smooth but politically charged Winter Games to their next host, Pyeongchang in South Korea.

Russian President Vladimir Putin, these Olympics' political architect and booster-in-chief, watched and smiled as Sochi gave itself a giant pat on the back for a Winter Games that IOC President Thomas Bach declared an "extraordinary success."

The crowd that partied in Fisht Olympic Stadium, in high spirits after the high-security games passed safely without feared terror attacks, hooted with delight when Bach said Russia delivered on promises of "excellent" venues, "outstanding" accommodation for the 2,856 athletes and "impeccable organization." The spectators let out an audibly sad moan when Bach declared the 17-day Winter Games closed.

"We leave as friends of the Russian people," Bach said.

5. Jaya to launch Lok Sabha polls campaign from Kanchi

AIADMK on Monday announced that party general secretary and Chief Minister Jayalalithaa would begin the election campaign for Lok Sabha polls on March 3 from Kanchipuram, about 70 km from here.

6. Who coined 'Jai Hind'?

Many believe that Subhash Chandra Bose coined the slogan 'Jai Hind' but a book on legends and anecdotes of Hyderabad says it was first used by a man from that city who gave up his engineering studies in Germany to become Netaji's secretary and interpreter.

In his book "Lengendotes of Hyderabad", former civil servant Narendra Luther presents a number of interesting articles, based on documentary evidence, interviews and personal experiences, on the city that is much celebrated for its romantic origin and composite culture.

One interesting titbit is on the origin of the slogan 'Jai Hind'. According to the author, it was coined by Zain-ul Abideen Hasan, son of a collector from Hyderabad, who went to Germany to study engineering.

During World War II, Netaji had escaped to Germany to canvass support for an armed struggle to liberate India, Luther says.

"He addressed meetings of Indian prisoners of war and other Indians exhorting them to join him in his struggle. Hasan met him and inspired by his patriotism and spirit of sacrifice, he told him that he would join him after finishing his studies.

"Netaji taunted him that if he was worried about small things like these, he could not take up big causes. Stung by that rebuke, Hasan gave up his studies and became Netaji's secretary and interpreter," the book, published by Niyogi, says.

Hasan became a major in the INA and participated in the march from Burma (now Myanmar) across the Indian frontier. The army reached Imphal. It was severely handicapped in supplies and armaments and so had to retreat, the author says.

7. India and Canada signed three MoUs

India and Canada on 24 February 2014 signed three MoUs for cooperation in health sector, audio-visual co-production and skill development. At present David Johnston, the Governor General of Canada is on a nine day visit (22 February 2014 to 2 March 2014) to India and this visit is the first by a Canadian Governor General since 1998.

These MoUs were signed after talks between Manmohan Singh, Prime Minister of India and David Johnston in New Delhi.

Features of the three MoUs
• The MoU between the Department of Biotechnology and Grand Challenges Canada would address the global health challenges especially women and child healthcare
• The audio-visual cooperation MoU is aimed at co-production in the field of film and Television. This MoU will enable Indian and Canadian film producers to utilize a platform for collaboration on various facets of film making. The agreement is expected to deepen the engagement between the critical sectors of the film industries of both countries there by, providing a new chapter of collaboration. This agreement was signed by the Secretary Information and Broadcasting, Bimal Julka and Stewart Beck, High Commissioner of Canada to India.
• Under the MoU on skill development, the two organisations namely National Skill Development Corporation and Association of Canadian Community College for Skill Development will facilitate exchange and learning

Other similar agreements in the field of audio-visual co-production signed by Indian government are
• In 2005 signed an agreement with Italian government
• In 2005, the Indian government also signed similar agreements with Government of United Kingdom of Great Britain and Northern Ireland
• In 2007 it signed an agreement with Germany and Brazil
• In 2010 with France
• In 2011 with New Zealand
• In 2012 with Poland and Spain

8. Bayern Munich set to be officially declared as Bundesliga champions in March

Bayern Munich are on course to break yet another Bundesliga record by being crowned German champions in March after opening a 19-point lead at the top of the table.

9. American woman tennis ace Serena Williams heads WTA Top 10 Rankings chart

Germany's Angelique Kerber and Simona Halep of Romania both moved up two places in the WTA world top 10 rankings, with Petra Kvitova of the Czech Republic slipping down three spots.

Serena Williams continues to dominate the rankings and is nearly a massive 6,000 points clear of second ranked Li Na of China despite going out in the semi-finals in Dubai last week to Alize Cornet of France.

Sister Venus, who won the title in Dubai, her first tournament triumph in 16 months, gained 15 places to stand at 29th.

WTA Top 20 rankings

1. Serena Williams (USA) 12,660 pts

2. Li Na (CHN) 6,795

3. Agnieszka Radwanska (POL) 5,705

4. Victoria Azarenka (BLR) 5,681

5. Maria Sharapova (RUS) 5,206

6. Angelique Kerber (GER) 4,490 (+2)

7. Simona Halep (ROM) 4,435 (+2)

8. Jelena Jankovic (SRB) 4,380 (-1)

9. Petra Kvitova (CZE) 4,365 (-3)

10. Sara Errani (ITA) 4,195

11. Caroline Wozniacki (DEN) 3,185

12. Ana Ivanovic (SRB) 3,155

13. Dominika Cibulkova (SVK) 3,056

14. Roberta Vinci (ITA) 2,940

15. Carla Suarez Navarro (ESP) 2,725 (+1)

16. Sabine Lisicki (GER) 2,650 (-1)

17. Samantha Stosur (AUS) 2,605

18. Sloane Stephens (USA) 2,415

19. Eug?nie Bouchard (CAN) 2,365

20. Kirsten Flipkens (BEL) 2,285

2014 India Post Recruitment of Postal Assistants / Sorting AssistantsNotification Out

2013-14 India Post Recruitment of Postal Assistants / Sorting Assistants Advertisement Out

Department of India Post, Ministry of Communications & Information Technology (MSIT), Departments of Posts (Recruitment Division) Government of India has issued Notification dated 21.02.2014 for filling up the vacant posts in 22 Postal Circles in the Country with the positions Assistants/Sorting Assistants/Postal Assistants (Savings Bank Control Organization)/ Postal Assistants (Foreign Post Organization)/Postal Assistants (Returned Letter Offices)/Postal Assistants (Mail Motor Services) And Postal Assistants (Circle And Regional Offices) for the year 2013-2014 in the Pay Band 5200-20200 with 2400 Grade Pay + other admissible allowances for the years 2013-2014.

Post Name:

1. Postal Assistants


2. Sorting Assistants


3. Postal Assistants (Savings Bank Control Organization)


4. Postal Assistants (Foreign Post Organization)


5. Postal Assistants (Returned Letter Offices)


6. Postal Assistants (Mail Motor Services)


7. Postal Assistants (Circle And Regional Offices)

Age limit: 18-27 years - (a) For General Category (Unreserved Applicants) the applicable relaxation is provided to persons belonging to SC/ST/OBC/PH/Ex-serviceman candidates as per the extant orders. The age limit will be as on 27.03.2014.

Educational qualification:
(1) 10+2 standard or 12th class pass from a recognized university or Board of School Education or Board of Secondary Education with English as a compulsory subject (excluding vocational streams).
(2) The applicants should have studied local language of the State or Union Territory of the concerned Postal Circle or in Hindi as a subject at least in Matriculation level or equivalent.

How to Apply : The aspiring candidates are requested to access the website: www.pasadrexam2014.in for further details like vacancies, eligibility criteria, details of fee etc. The Applications are to be submitted on line and the last date for registration of applications on line is 23:59 Hours of 27th March, 2014.

Click here to apply for India Posts of PA /SA 2014 Exam ( PA/SA Direct Recruitment Exam 2014 Online Registration STARTS from Feb 27, 2014)

Click here to download India PA /SA 2014 Exam Notification.

17 Feb 2014 IBPB Clerks 3 Interview Experience from Bhopal

17 February 2014 IBPB Clerks III Interview Q & A

Name : Vaishali Gupta

Date : 17-Feb-14, 08:30 AM

Venue : Central Bank of India Officer's Training Academy, Bhopal

Panel : IV

Friends, I am here giving a brief review of my interview.

They asked 20 questions in all. There were 4 members in the panel. One female and three males. Female member was proficient in Computers. She asked only about my computer knowledge.

Member 1 (senior most)
Q.1 Tell us about yourself. (He asked in Hindi)
I told about my family and my education.
Q.2 What is Tissue Culture? (As I am a postgraduate in Biotechnology)
Replied in brief with its two branches.
Q.3 Have you heard about Financial inclusion?
Replied, the proper definition.
Q.4 What is Poverty Alleviation?
Answered.
Q.5 Tell about the few schemes run by Central government for poverty alleviation.
I told about Grameen Rozgar yojna and some more. He said 'good'.
This question was followed by State government scheme. I could not answer the exact name of the scheme but i was quite close. He told me the right answer.

Member 2 (Female member)
Q.6 What is time sharing?
I didn't know, so said sorry am not aware.
Q.7 What is Operating system?
Told what i know, but not the proper definition.
Q.8 Domain Name?
Told
Q.9 1 GB=?
I got confused or should say forgot.. so said 1034 MB.. she smiled.. I knew that i was wrong.. it is 1024.
Q.10 Tell about some banking products.
I told about cheque truncation system, ATM cards, Debit cards. She said OK.

Member 3 (Sardarji)
Q.11 What should be done to overcome the souring NPAs?
I told about the SARFAESI act and some more points.
Q.12 What is the number of NPAs in State Bank 3rd Quarter review.
I was not aware.
Q.13 What is the priority sector lending percentage?
Not known again.
Q.14 What is Break even point?
I said that i have not even heard the term.
(I was worst with him.)

Member 4
Q.15 Name of the female head of a famous Biotech company.
I knew the name of the company he was asking about. So said 'Biocon'. I even told the headquarter of the company but could not recollect her name. Senior most told me Kiran Mazumdar Shaw. I was feeling annoyed of myself.
Q.16 Female heads of some Indian Banks.
I told about Usha Ananthsubramaniyam of BMB, Arundhati Bhattacharya of SBI, Chanda Kochar of ICICI. I was continuing but 'sardarji' interrupted..
Q.17 Head of Allahabad Bank?
I said I didn't know.
Q.18 Head of HSBC?
I replied Naina Lal Kidwai. He said Good.
Q. 19 Do you have any special hobby?
I said Travelling, Reading.
Q.20 Any recent research in Biotechnology?
I said I have not read about it.

We discussed few more things like 'Why I want to shift from teaching to Banking' as I am a teacher and I have done B.Ed. It was like rapid fire for me and lasted for 12-15 mins around. My score is not very good, it is just 115. Cutoff is 107 for general category.

Panel was supportive. I was calm and relaxed. It went smoothly.

Awaiting for your responses.

IMF: 2014-15 India’s Economic Growth Is 5.4 %

International Monetary Fund (IMF) Announced Annual Report of India’s economic growth for 2014-15 will be 5.4 percent

International Monetary Fund (IMF) on 20 February 2014 released its annual report on the state of the Indian economy and projected that India’s economic growth for 2014-15 will be 5.4 percent. In its release it said that India has restored macroeconomic and financial stability but structural impediments to growth and persistently high inflation is the major areas of concern. It has also suggested India to strengthen its inflation management policies and do away with supply bottlenecks for better GDP.

In its forecast, IMF (multilateral agency) said that inflation driven food prices seems to remain near double digits in 2014-15. It also said that the tight monetary policy would slow the growth recovery. In its forecast for the fiscal year 2013-14, it projected that India’s growth will be 4.6 percent and will pick up to 5.4 percent in 2014-15 at factor cost. These projections of India were a conclusion of its annual discussions with India.

India’s National Food Security Act has been described by IMF as landmark legislation which will ensure that a majority of population of the country will have access to adequate quantities of food at affordable prices. IMF also said that the Consumer Price Index (CPI) could push up due to weaker rupees and ongoing energy price increases.

To tackle price rise, IMF has asked the high Inflation countries of G20 nations like India to strengthen their fiscal and monetary policy framework. For G20 countries, IMF has also asked to better their supply infrastructure, which will help in doing away bottlenecks to achieve faster growth poverty reduction and job creation.

The G20 leaders’ meet will start in Sydney on 22 February 2014.

Earlier on 17 February 2014, the Union Finance Minister of India, P Chidambaram in his interim budget projected that the economy will pick up and the objective of 6 percent growth is doable in the fiscal year 2014-15. RBI appointed committee has also suggested focus of the central bank should be towards CPI inflation and its recommendation it has asked to bring down the CPI inflation to 8 percent in 2014-15 and to 6 percent by 2016.

About the International Monetary Fund (IMF) :
The International Monetary Fund (IMF) is an organization of 188 countries and is working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. It is headquartered in Washington, US. The IMF has played a part in shaping the global economy since the end of World War II.
IMF PRESIDENT - CHRISTINE LAGARDE

Functions and Objectives of G 20 Group

Functions and Objectives of G 20 Group

The Group of Twenty Finance Ministers and Central Bank Governors (also known as the G-20, G20, and Group of Twenty) is a group of finance ministers and central bank governors from 20 major economies: 19 countries plus the European Union, which is represented by the President of the European Council and by the European Central Bank

Australia, which is the host of the G-20, wants the ministers to agree to a substantial plan to achieve collective global goal of promoting growth and lifting economies which are still reeling under the impact of slowdown.

Indian finance minister P Chidambaram who also reached Sydney will also pitch for greater transparency in the US Fed's tapering operations, expeditious reforms of IMF and automatic sharing of tax information.

Besides the Minister, the Indian delegation at the G20 ministerial comprises Reserve Bank Governor Raghuram Rajan and senior officials of the Finance Ministry including Economic Affairs Secretary Arvind Mayaram.

This event is the first major G20 meeting under Australia's presidency in 2014. Australia will also host G20 Leaders Summit which will be held on15 and 16 November in Brisbane, Queensland which will chair byTony Abbott, Prime Minister of Australia.

About G-20

The Group of Twenty Finance Ministers and Central Bank Governors (also known as the G-20, G20, and Group of Twenty) is a group of finance ministers and central bank governors from 20 major economies: 19 countries plus the European Union, which is represented by the President of the European Council and by the European Central Bank.

The G-20 was proposed by former Canadian Prime Minister Paul Martin as a forum for cooperation and consultation on matters pertaining to the international financial system.

The group was formally inaugurated in September 1999, and held its first meeting in December 1999.

G-20 members represent around:
1. 85 per cent of global gross domestic product

23 February 2014 Current Affairs Updates For Bank Exams

1. Satisfied with G20 outcome: Chidambaram

Satisfied with the outcome of G20 meeting, Finance Minister P. Chidambaram on Sunday said India’s concerns with regard to withdrawal of US stimulus and the need to expedite IMF quota reforms have been taken on board by the group of rich and developing nations.

“The communique has been drawn by the deputies sitting together and our concerns have been fully reflected in the communique,” he told PTI in an interview after conclusion of the G20 Finance Ministers and Central Bank Governors meet.

The Minister said “yes”, when asked whether he was satisfied with the G20 communique.

2. Indian government proposes 'Youth Connect Programme' to implement NYP-14

For the effective implementation of the National Youth Policy-2014, the Government of India has recommended that all the relevant ministries should set up a mandatory "Youth Connect Programme" to educate the youth about the various schemes and programmes available to them that are administered by the concerned ministries.

Given the fact that youth comprise 27.5 per cent of the population, and represent a large proportion of the target segment of most of the ministries, it is important to ensure that the key ministry departments communicate with the youth and must work in a coordinated manner to facilitate holistic youth development.

Congress Vice-President Rahul Gandhi and Sports Minister Jitendra Singh had, on Friday, unveiled two ambitious projects -- 'National Youth Policy 2014' and 'Rajiv Gandhi Khel Abhiyan' -- which focus on education, skill development, employment, entrepreneurship and health.

The NYP 2014 is a comprehensive policy document that states the vision of the Government of India for the youth of the country and also how this vision is sought to be realised by the government. NYP-2014 caters to the needs of the youth in the age-group of 15-29 years.

3. Seemandhra MPs urge Kiran Kumar Reddy to float new party

Seemandhra MPs, expelled from Congress, and other party leaders on Sunday urged Andhra Pradesh caretaker Chief Minister N. Kiran Kumar Reddy to launch a new political outfit.

"We fought (in Parliament) and Chief Minister in the Assembly. Our fight should not go waste. We told him to start a new party. He will also talk to MLAs tomorrow," MP GV Harsha Kumar told reporters here.

Another expelled MP Sabbam Hari also said Reddy would continue his consultations with MLAs and others tomorrow and a conclusion can be reached thereafter.

Reddy had resigned from his post on February 19 in protest against the division of Andhra Pradesh and the way the AP Reorganisation Bill was pushed through in Parliament.

Governor ESL Narasimhan has asked Kiran Kumar Reddy and his council of ministers to continue in their posts till alternative arrangements are made.

The Congress leadership and the Centre have not yet taken a decision on formation of a new government in AP or imposing President's rule in the state.

The Andhra Pradesh Reorganisation Bill was passed in Parliament last week and now awaits President's assent.

4. Bharatiya Mahila Bank & NIA ink MoU for health policies:

Bharatiya Mahila Bank (BMB) and New India Assurance have inked an MoU to provide three customised package health insurance policies from the general insurance major. These policies are named BMB Sakhee, BMB Nirbhaya and BMB Parivar Suraksha.

Bharatiya Mahila Bank  is the financial services banking company based in New Delhi, India. India's Prime Minister Manmohan Singh inaugurated the system on 19 November 2013 on the occasion of the 94th birth anniversary of former Indian Prime Minister Indira Gandhi. Although initially reported as a bank exclusively for women, the bank will allow deposits to flow from everyone, but lending will be predominantly for women. India will be the third country in the world to have bank especially for women. Pakistan, Tanzania already have an exclusive bank for women.

5. Sri Lankan Parliament passed a law that makes mandatory graphic warning on Cigarette packs

Sri Lankan Parliament on 19 February 2014 passed a law that made it mandatory to put graphic warning on cigarette packs.




6. Mahatma Gandhi's grandson Rajmohan joined AAP:

Aam Aadmi Party (AAP) got a shot in the arm when Rajmohan Gandhi, grandson of Mahatma Gandhi, joined the party on Friday. "The party is vehemently opposed to corruption and this is what I liked in it. There is a disparity between the rich and poor and this also reflects in poor. "If a common man joins and also becomes a part of politics then this is a welcoming step," Gandhi, son of Devdas Gandhi and maternal grandson of C Rajagopalchari said.