Canara bank joining date of IBPS Clerk2

The bank is in the process of scrutinizing the documents submitted by the candidates allotted to the Bank through CWE-II conducted by IBPS Mumbai. The list of candidates is expected to be published in canara bank site by 27/05/2013 and the tentative date of reporting will be in the 3rd / 4th week of June 2013.

For more details Click Here

Premium revenue declined in Life Insurance Sector

In the 2012-13 fiscal year the country's 23 life insurance companies faced a decline in premium income of Rs.1,07,010 crore. It was formerly in the 2011-12 fiscal year Rs 1,14,232 crore was increased. Thus in the assessment financial year, the new premium income of life insurance companies faced a decline of 6.3 percent. In Life insurance sector, the public sector company LIC leads in first place. In Last fiscal year, the company's new premium income faced 6.5 percent decline and the amount decreased from 81,514 million to 76,245 million rupees. However, in current fiscal year LIC's new premium income will expect 15 percent growth, the company's Managing Director Mr.Sarkar told.

IDBI bank reduces deposit rate

IDBI bank reduces interest rate upto 0.15 to-0.50 percent on term deposits. Accordingly, the term deposits up to 91 days for the first six months, interest rate is reduced from 7.75 percent to 7.25 percent. Similarly from  6 months to 269 days, the interest rate for term deposits decreased to 0.15 per cent and estimated as 8.50 percent. Recently, the Reserve Bank has reduced Repo rates by 0.25 per cent. Subsequently the IDBI bank has reduced the deposit rate. It is expected that other banks also reduce interest rate and is expected to announce soon.

Indian Bank to give 66 Percent Dividend to its shareholders

Public sector Indian Bank has decided to provide 66 percent dividend to its shareholders for the past 2012-13 financial year, the Bank's Chairman and Managing Director Mr.D.M. Bhasin said. Last fiscal year, the Bank's total business increased to 2,49,136 crore rupees. This is 17.52 percent more than the previous year. However due to pension, gratuity, employees pay the bank's operating profit decreased from 3.463 million to 3.061 million rupees. Due to this bank's net profit also decreased from 1.747 million to 1.581 million. Last fiscal year, the Bank newly-launched 143 branches and the bank's total number of branches has risen to 2081. Apart from these it has also opened branches in Singapore and in Sri Lanka it has opened in Colombo and in Yazhalpanam. Last fiscal year the bank's total outstanding debt is 3.33 percent, and net outstanding loans is 2.26 percent, Mr.Bhasin added.

India's foreign exchange reserves declined to $ 206 million

The country's foreign exchange reserves decreased 206 million dollars (11,330 million) and felled to 29.431 million dollars (16.19 lakh crore) that ended last week, the Reserve Bank statistics said which, in the previous week, 160 million dollar ( 8.800 million) was decreased and felled to 29.637 million dollars (16.30 lakh crore). In Valuation week, foreign currency assets decreased to 30 million dollars (1,650 million) and felled to 26.373 million dollars (Rs.14.50 lakh crore). Similarly, gold security too decreased to 172 million dollars and estimated  to be $ 2.397 million. This is due to variation in the value of foreign exchange reserves like US dollar against Euro, Yen, Sterling, the Reserve Bank said.

Delhi and Mumbai lies First in High Housing prices

In country's leading 20 cities, Delhi, Mumbai lies number one in high housing prices and Chennai is ranked 18th, National Housing Bank said in a study. In the October to December quarter, housing prices in Delhi and Mumbai increased by 9.6 percent than previous quarter. In Kolkata and Patna increased by 9.4 percent.
Following this, Kochi (8.8 per cent), Surat (8.7), Bangalore (8.2), Lucknow (8), Hyderabad (7), Ludhiana (6.5), Ahmedabad (6.1), Guwahati (5.1), Bhopal (4.9), Bhubaneswar ( 2.4), Jaipur (2.4), Vijayawada (2.2), Pune (2 percent), and their states takes place. In this list Chennai lies in 18th place with 0.6 percent growth in housing prices. In this study only Faridabad and Indore cities have a setback of housing prices of respectively minus 5.1 percent and minus 1 per cent.

Description of the Reserve Bank in private banking license will announce soon

Private Banking licensing terms determined by Reserve Bank will be re-issued soon, Finance Department Minister announced. Last February, 22, the new banking license rules for private companies was released.RBI has numerous letters, Telephone, email and in many respects from companies, individuals regarding the proposed regulations. Considering this Reserve Bank has decided to organize them and to come to final decision. Similarly, descriptions of all the letters will soon be posted on the Web site,RBI. 

In the banking sector, in order to increase competition with public sector organizations the Central Government has granted permission for private sector companies, to start a new bank, . However, to obtain a license for a new bank norms were released on feb22. However, the rules are unclear for a company to start a new bank so none applied yet.

IBPS declared Notice Regarding Allotment process against available vacancies of Clerical Staff in Participating Organisations for 2013-14

Finally the wait is over and IBPS has declared Maximum and Minimum marks of Clerks 2 for each category and declared this as the final decision.Based on the marks and preference the allotment is made.

Allotment process against updated available vacancies of Clerical Staff in Participating Organisations for 2013- 14 has been completed. Candidates are being intimated individually about their status at the email address and mobile number registered for CWE Clerks II. Allotment has been done based on merit-cum-preference keeping in view the spirit of various guidelines issued by Govt. of India/Others from time to time. A candidate belonging to reserved category, selected on the basis of norms as applicable to General category, has been treated at par with a General category candidate for drawing up the merit list. Such a candidate has not been adjusted against a reserved post. However his/her allotment to an Organisation has been done by treating him/her as if he/she has qualified as a reserved category candidate. In the event of two or more candidates having obtained the same score, merit order is decided as per date of birth (the candidate senior in age is placed before the candidate junior in age).

 

To know the cutoff marks Click Here 

 

 

 

Bank Of Baroda Invites Application for Probationary Officers in Junior Management Grade / Scale-I

Bank of Baroda invites application for young, qualified, mobile and active minds who can be inducted into Bank of Baroda as Probationary Officers in Junior Management Grade / Scale-I after imparting them with the necessary knowledge and skills required to be good all-round bankers through the 1 year Post Graduate Diploma in Banking and Finance course in Baroda Manipal School of Banking.

Bank of Baroda invites young, bright graduates or students in the final year of their graduation who fulfill the eligibility criteria specified and who are interested in a Banking career with one of India’s largest and best Banks to apply for admissions to the 1 year full-time post graduate diploma course in Banking and Finance from Manipal University to be conducted at the Baroda Manipal school of Banking, and which comes with the assurance of a full-fledged Banking career with Bank of Baroda on successful completion of the course.

Start date for Online Registration : 04.05.2013

Online Payment of Application Fees : 04.05.2013 to 18.05.2013

Offline Payment of Application Fees : 07.05.2013 to 22.05.2013

Last date for Online Registration : 18.05.2013

Download of Call letter for Examination : After 25.06.201

Date of Examination (Tentative) : 07.07.2013

Qualification (As on 01.09.2013)

Degree with 60% (55% for SC/ST/PWD) marks in any discipline from a recognized University

OR 

Any equivalent qualification as such recognized by Central Government. 

Students appearing in final year degree exams can also apply subject to their submitting their Final Degree Mark sheet & Provisional Certificate on or before 01.09.2013 and securing minimum percentage as stated above 

Payment of Fees is done through both Online and Offline.

- Rs. 50/- for SC/ST/PWD candidates.
- Rs. 550/- for all others

No of Vaccancies

SC - 43  ST - 23  OBC - 81  Others - 151 

Total - 300

SELECTION PROCESS

Candidates shall be selected by BOB through a selection process consisting of an (open) online exam and offline descriptive test of English Language followed by Group Discussion and Interview.
For more information Click Here

For Online Application Click Here

Internet usage will rise to 33 million - Survey conducted by a private company

The country's Internet usage in 2016 year will rise to 33 million and this will be 15 percent increase a private research firm's survey said. Currently, the domestic Internet Usage is around 12.50 million. Though the Business activities carried through internet is now very low it will increase at a great level in coming years. In Present condition, only high-income persons only buy goods through the website, according to research company.

RBI Decreases Repo Rate

Interest for the short-term loans for banks is decreased by quarter percent, announced by RBI. Currently the interest rate is 7.25 percent and it is reduced to 7.50 percent. Banks cash reserve ratio will remain at the current 4 percent. Due to this cut in repo rate, banks are expected to cut interest rates for vehicle and housing loans.

What is a Repo Rate?

• Repo rate is the rate at which our banks borrows money from Central Bank(RBI). 
• Whenever the banks have any shortage of funds they can borrow it from RBI. 
• A reduction in the repo rate will help banks to get money at a cheaper rate. 
• When the repo rate increases, borrowing from RBI becomes more expensive

The term Repo has been derived from the word repurchase which literally means selling today and buying back at a later time.To be specific  it means Repo trader sells securities, gets funds for a certain specific time, and after this time period. purchases back the securities by paying the previously taken funds along with some interest for the said period. The securities in question basically act as an insurance against borrower's default. A forex money market also works on the same repo terms.

Repo rate is the medium through which RBI infuses funds in the system.
If the repo rate is decreased borrowin of money from RBI(central banks) goes up whereas if it is increased borrowing of money comes down.

Cooking gas price will be Rs.891 if there is no Aathar card

The price of cooking gas cylinder will be double (ie) without subsidy when there is no Aathar card within October.Throughout India in Bio-technology method Aadhar ID card is being distributed to the public. Central government's "Your money yours scheme, cooking gas subsidy is directly deposited to the people's bank account. These practical method comes in the month of October. Aadhar card is only ID for providing  cooking gas subsidiaries. Thus from October, Aadhar card buyers only will get cooking fuel subsidiaries. If there is no Aadhar card means people have to get cooking gas in market price. 

Currently 14.2 kg subsidy cooking gas price is 380 rupees and market price of the same cylinder is 891.50 rupees. Federal Government permitted 9 subsidized cooking gas cylinder per yr for a family and for above people have to buy in market price. So per yr Govt is spending 4000 rupees per yr for a family for subsidized cylinders. This 4000 rupees is directly deposited in people's bank account through your money scheme for Aathar card holders only from october.
Due to this scheme, most people do not have the Aadhar card will affect and they requested to postpone the project. So far, only 32 million cards have been issued, of which, 80 million people are connected to the bank accounts. According to south it is already very low, 1.80 million people only received Aadhar card. This, in Andhra Pradesh, 5.70 crore and in Kerala 2.40 million, in the state of Karnataka, there are a number of 2.10 million. Total population of 7.20 crore in Tamil Nadu, the number of cooking gas connections, which is 91 million.

Bank Credit lowers to 15.7% from 20.3%

Present in the month of March, the credit rate of banks declined to 15.7 percent from 20.3percent. Last year in the same month it was 20.3 percent, Reserve Bank said. 
This was due to borrowing was much low in  food processing, textile, leather and leather products, wood and wood furniture and credit was high in chemical and chemical products, glass furniture, cement-based products, vehicle products. Meanwhile, the growth of credit granted to the agricultural sector, most declined to 8.1 per cent. It's the same month last year it was 13.3 percent more. Banking and non-banking credit growth for financial institutions, respectively, 13.6 per cent and 14.7 per cent.

New Regional Director of Reserve bank holds charge

New Regional Director of Reserve bank Mr.J Satakadulla holds charge for Tamilnadu and Pondicherry. He will too act as secretary of the local board for Andhra Pradesh, Kerala, Karnataka and associated states of the Reserve Bank

State Bank of India - Recruitment of Clerical Cadre

State Bank of India Recruitment of Clerical Cadre for Sports Personnel

Qualification : Graduation in any stream from a recognized university or SSLC
Experience : Fresh Graduates
Last Date to Apply : 22nd May 2013
Job Location : Thiruvananthapuram
Age :  18 to 28 years
Salary Offered : 16,900 per month

Click Here to view Advertisement

Central Bank of India - Recruitment of Specialist Officers

Central Bank of India - Recruitment of Specialist Officers for BE/BTECH/BArch/ MBA/MA Graduates

Experience: Freshers
Date of Commencement of Application : 26/04/2013
Date of Closure : 11/05/2013
Date of Closure for Edit : 11/05/2013
Start Date for Fee deposit : 26/04/2013
Last Date for Fee deposit : 11/05/2013
Last Date for Reprint : 26/05/2013

Click Here to view Advertisement.
Click Here for Registration.

Economic Growth will be 6.1 Percent this year

In the current 2013-14 fiscal year, World bank estimates that India's economic growth to be 6.1 percent. In the past six months preceding the survey, world bank estimated that India's economic growth will be 7 percent. But in Current fiscal year, there is drought in several states of the country. Thus, India's agricultural sector, has been revised to be at the same level of 2 percent.
This in the previous survey 2.7 percent is estimated. India's inflation slowed that the trade deficit has also been reduced. Therefore India's economic growth is likely to improve in long term, Bank said.
This 2012-13 the fiscal year, India's economic growth, the past ten years, a record, 5 per cent more reduction. Meanwhile the International Monetory Fund (IMF) rated that in current 2013 year, India's economic growth will be 5.7 percent. From next year, India's economic growth will be 6.2 per cent IMF Said.

IBPS Clerk2 Vaccancy list revised

IBPS has once again changed the vacancy of Clerk2 for some states. It is only the minor change and has come for both good and bad news for some states. States like Tamilnadu has came up with increased vaccancies so 50 more candidates for each category will get allotment. So it will surely be the good news and in some states the vaccancies have been reduced and this will affect the last person who is around the cutoff and the competition will increase.

To know the revised vacancy list Click Here

Let we First know wat is a BANK its Features and Types?

A Banking is a FINANCIAL ORGANISATION where people deposits their money for their safety purposes. And also banks provide loan to a customer who wants money with rate of interest to earn profit (ie)engaging in the business of keeping money for savings and checking accounts or for exchange or for issuing loans and credit etc.
Simply in other terms, A bank is a Financial institution which accepts CAPITAL from public as a savings and lends those CAPITAL to public who seeks money.

Banks play an important role in the financial system and the economy. As a key component of the financial system, banks allocate funds from savers to borrowers in an efficient manner.

And how the bank get money to provide loan to customer??

    

The answer lies within. Because of deposits. So only all banks attracts customers by providing some ROI (Rate of Interest).
And banks face some stiff competetion by varying rate of interest from one bank to another bank to attract customers.

Types Of Banking

• Retail banking: Banking services for individual customers is known as Retail banking. 
• Merchant banks: A bank that deals mostly in but international finance, long-term loans for companies and underwriting. Merchant banks do not provide regular banking services to the general public
• Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank.
• Mobile Banking is a service that allows you to do banking transactions on your mobile phone without making a call , using the SMS facility. Is a term used for performing balance checks, account transactions, payments etc via, mobile device such as a mobile phone. 
• Traditional banking is the normal bank accounts we have, put your money in the bank and they act as a security and you will get only the normal interests (decided by RBI in our case, FED bank in US). 
• Investment banking is entirely different. Here, pepole who are having so much money (money in excess which will yield only less interest if in Banks) will invest their money and get higher returns. For example, It i have more money instead of taking the pain of investing in share market, buying properties etc. I will give to investment banks and they will do the money management and give me higher returns when compared to traditional banks.

Financial Year Of the Banks:

Financial Year of the banks       - April 1 to March 31
Financial Year of RBI                 - July 1 to June 30
Financial Year of World bank   -  Oct 1 to Sep 30

Railway Enquiry No139 touched a new peak

Railway Enquiry no achieved a new peak of receiving 29.20crore calls in previous year. This is the average of receiving 8lakh calls per day. Mostly Railway enquiry no 139 is used to check PNR Status, Train timings, ticket fare and many.

These enquiry calls are received in various call centres of Kolkatta, Ahmadabad, Noida and Mysore and provides necessary data. The data centres are situated at Chennai, Mumbai, Delhi and Kolkatta.

This enquiry no was first started in July2007 and received total calls of 120crore. In previous yr alone it received 29.20crore calls and 7.5crore SMS enquiries. This is the new record of receiving such a huge calls.
75% of calls were received from UP, Bihar, Rajasthan, Hariyana, MP and Jharkhand.
The response of calls were given in various languages such as Hindi, English, Punjaabi, Gujaraati, Kannada, Malayalam, Tamil, Telugu, Bengali, Odiya and Assami. In that Hindi lies in First place followed by English which is 16%. Per day 10000 SMS enquiries were wrongly received because of unaware of sending SMS format.

CANARA BANK RECRUITMENT FOR THE POSTS OF PROBATIONARY OFFICERS & PROBATIONARY CLERKS - THE SPECIAL INDUSTRY INITIATIVE-JAMMU & KASHMIR SCHEME

Canara Bank,a leading Public Sector Bank with Head Office in Bangalore and pan India presence with over 3680 branches, as part of its Corporate Social Responsibility, is participating in the Special Industry Initiative - Jammu & Kashmir (UDAAN) Scheme launched by the Ministry of Home Affairs,Government of India.

Applications are invited from the eligible candidates in the state of Jammu & Kashmir for enrolling to the training programme. Please read this advertisement carefully and ensure your eligibility before submitting on-line application.
 
Opening date for Online Registration : 29.04.2013
Closing date for Online Registration : 15.05.2013

For More Information  Click Here 

For Registration Click Here

Registering Online Complaints With SEBI

SEBI is the regulator for the Securities Markets in India. The Securities and Exchange Board of India was established on April 12, 1992 in accordance with the provisions of the Securities and Exchange Board of India Act, 1992.

Tollfree Investor Helpline

1800 266 7575 or
1800 22 7575
(All days from 9:30 AM to 5:30 PM excluding declared holidays)

Office of Investor Assistance and Education (OIAE):   

Tel.:+91-22-26449188 / 26449199 / 40459188 / 40459199

How to file complain online?

• For Registering a complaint online Click Here
• click on "Complaint Registration"
• under "Investor Corner" 

For more Queries Click Here

Address and Offices of SEBI
Head Office : Mumbai (Bombay)
Head Office :	Plot No.C4-A,'G' Block,Bandra Kurla Complex,Bandra(East), Mumbai 400051 Tel : +91-22-26449000 / 40459000 Fax : +91-22-26449016-20 / 40459016-20 E-mail : sebi[at]sebi[dot]gov[dot]in
North Zone : New Delhi
Regional Office :	The Regional Manager, 5th Floor, Bank of Baroda Building,16, Sansad Marg, New Delhi - 110 001. Tel. Board: +91-11-23724001-05 Fax : +91-11-23724006. E-mail : sebinro[at]sebi[dot]gov[dot]in
South Zone : Chennai (Madras)
Regional Office :	The Regional Manager, 7th Floor, Overseas Towers, 756-L, Anna Salai, Chennai : 600002 Tel : +91-44-24674000/24674150 Fax: +91-044 -24674001 E-mail : sebisro[at]sebi[dot]gov[dot]in
East Zone : Kolkata (Calcutta)
Regional Office :	The Regional Manager, L&T Chambers, 3rd Floor, 16 Camac Street, Kolkata 700 017 Tel : +91-33-23023000. Fax: +91-33-22874307. E-mail : sebiero[at]sebi[dot]gov[dot]in
West Zone : Ahmedabad
Regional Office :	Western Regional Office Unit No: 002, Ground Floor SAKAR I, Near Gandhigram Railway Station Opp. Nehru Bridge Ashram Road Ahmedabad - 380 009 Tel : +91-79-26583633-35 E-mail : sebiwro[at]sebi[dot]gov[dot]in

List of companies in Insurance Complaints

Due to improper business practices and the complaints from the victims of customers HDFC and Standard Life Insurance lies in first place. 
Giving false promises and selling insurance HDFC, Standard Life Insurance, Bajaj Allianz, Birla sunlife Insurance are the companies who lies in front. Also ICICI, Prudential Life Insurance, Reliance Life Insurance provide false promises and attract customers but it would not work and the complaints from customers were still increasing. 
In the last fiscal year there were 1.68 lakh complaints registered under insurance companies. This, in the previous fiscal year, which was 1 million. Last year, LIC also received 2538 complaints. In the private sector, HDFC, Standard Life Insurance Company received 33,823 complaints ,the Federal Finance Minister. Mr.Chidambaram told in Rajya Sabha.

Public Sector Organizations: Revenue of Rs 18 lakh crore

Past in the 2011-12 fiscal year, Public sector companies earnings, was Rs 18.20 lakh crore. This is the value of gross domestic product, as 34.8 percent, President Pranab Mukherjee, in New Delhi on the occasion said. 

Cash Balance : The performance is much better in Federal Government owned Public sector companies. From the public sector, 50 companies were listed on the stock markets. These capital raising funds to the stock market as 7.30 lakh crore rupees have been invested in past 2012 to March period. In computational financial year, public sector companies export earnings was Rs.1.20 lakh crore. It is the country's total export of 8.5 percent. 

Revenue : Central government earned a revenue of Rs 1.60 lakh crore (Divident, Tax, Interest income) from Public Sector profitable companies. This is the total revenue of the central government, which is 21.4 per cent., However, in the public sector, 66 companies are listed as low income. However steps have been taken to improve the income of the respected companies.  

Economic growth : The country's economy growth in the next two or three years will be 7 to 8 percent. Over the past 10 years the country's economy, had an average of 7.9 percent.But, it is only in the last fiscal year of 2012-13, it fell to 5 percent. Central government will take corrective measures to the next two to three years and 7 to 8 percent economic growth will be achieved.

Heavy Fines for the banks those who Infringe the rule : A violation of Rs.1crore

A fine of one million rupees for banks, a punishable offense for those who violate the legal norms, the Reserve Bank has announced. 
The amendment bill was passed on the Banking Regulation Act, section 46. It is published in the government gazette and the new rules will be passed soon immediately. So far, Rs 5 lakh was fined among banks those who infringe the rules. But now it has been increased to 1 crore rupees. 

Accordingly, banks who violate the KYC (Know your customer) norms will be penalized immediately.  

JP Morgan Bank which has only one branch in Mumbai has been penalized Rs.5lakh for violating the KYC norms. Similarly, ICICI bank has also been charged Rs.30lakh for violating the KYC norms. Moreover, ING Vysya Bank paid a fine of 55 million rupees. Similarly, Axis Bank, HDFC Bank, Kottak Mahindra Bank, Yes Bank has been penalizes each of Rs.15 lakh. Citi Bank, PNB, State Bank of India, The Royal Bank of Scotland, Standard Chartered Bank has also been fined of Rs.5lakh for violating the norms.

Banks to reduce the amount for Gold Loan

Due to deterioration of Gold prices, banks must provide a reduction up to five thousand rupees for Gold loans, banks have been ordered. 
Due to reduction of gold price and increasing investment the order has been made.
When the price of a gram of gold sold for 2900 rupees, banks rate is 2200 per gram, and for 8gm it was 17,600.  
Currently, gold price has been declined to Rs 2426 and the present bank rate for gold loan is declined to Rs12 thousand. Thus, on average, more than five thousand rupees has been reduced. 

Due to deterioration of gold price, the gold reserves (557.75 ton) with the Reserve Bank plunged to 29 per cent, to $ 2.417 million. Though due to rise in gold prices for 10yrs, and average expenditure for the purchase of gold is calculated the loss is minimum, RbI.

Cabinet Approves 80% Hike In DA from 72% For Central Govt Employees and Pensioners

UNION CABINET ON TUESDAY APPROVED A PROPOSAL TO HIKE AN ANOTHER ADDITIONAL DEARNESS ALLOWANCE BY 80% from 72% FOR CENTRAL GOVERNMENT EMPLOYEES AND PENSIONERS...

THE CENTRAL GOVERNMENT TODAY APPROVED TO RELEASE A EIGHTY PERCENT HIKE IN DEARNESS ALLOWANCE TO CENTRAL GOVERNMENT EMPLOYEES AND PENSIONERS, THIS HIKE IS TO BE EFFECTIVE RETROSPECTIVELY FROM JANUARY 2013...

Repo rate, Reverse repo rate, CRR, SLR rates

As of now,

Repo rate                 is 7.50%
Reverse Repo rate is 6.50%
CRR rate                  is 4% ( 18000 Crore Liquidity )
SLR rate                   is 23%

What is GDP?

The Gross Domestic Product or GDP is a measure of all of the services and goods produced in a country over a specific period; classically a year.

    The value of GDP shows a Country's economic growth and production during the Financial year.
If the GDP of a country is above 8 or 9% the economic growth is high in that particular country and if it is below 5% tat economic growth is poor and should be improved.

Eg:  GDP during 2008-09 is 6.7% in India.
        GDP in the current Financial yr 2012-13 is estimated to be 5.5%.

Govt makes some special policies to improve the GDP growth if it is lowered.

Money Stock Measures Of India

M1  = Money With the Public + Demand Deposits ( CA SA) of Banks + Other Demand deposits wit RBI.
M2  = M1 + Savings bank deposits with post office.
M3  = M1 + Term deposits ( FD RD ) with the banks.
M4  = M3 + All deposits with the post office.

Broad Money = M3 ( Because of FD and RD )
Narrow Money = M1 ( Because of CA and SA )

ICICI Bank PO Selection Process and Fees Of the Training Process

The selection process for Probationary Officer will consists of

• Online Aptitude test
• Online Psychometric Assessment
• Case-based Group Discussion (GD)
• Personal Interview (PI)

The GD and the PI (only for applicants who successfully clear the GD) will be concluded on the same day.
 
Fees of the Training Programme The Probationary Officer Training Programme is a cashless bridge to managerial jobs for aspiring students. To pursue the Probationary Officer Training Programme, the interested students will have to invest 3.37 lakh (The course fee is Rs. 3 lakh. Along with the applicable service tax at the current rate of 12.36%, the total amount to be paid is Rs. 3.37 lakh). However, during repayment of the loan, the prevalent service tax rates will apply ) which would be provided by ICICI Bank as a loan at a subsidized interest rate of 2.5%. p.a. This is the fee for the first phase of the PGDB programme. The fee for Phase II is an additional amount of 1.25 lakh( plus applicable service tax rate prevalent at the time of repayment). This will be paid by students who opt for this phase.

After completion of the Training Programme, the Probationary Officers will be absorbed as Assistant Manager in the Bank. The loan is to be repaid by Probationary Officers in equated monthly installment (EMI) after joining the Bank. There would be no recovery of EMI or interest during the training and internship period, the interest accrued during this period would be recovered along with the normal EMI. The EMI is spread over a period of 60 months to ensure that there is minimal impact in the monthly earnings of the Probationary Officer.

However, if the applicant leaves during training or within five years of joining ICICI Bank after training, ICICI Bank would recover the principal and the interest at market rate on the entire loan amount for the period that the amount was given as a loan to the Probationary Officer. 

Eligibility Criteria

Those who have completed graduation with 55% (Aggregate) marks in any discipline Up to 25 years of age as on April 30th, 2013 (should have been born on or after May 1, 1988) Only short-listed applicants will be invited for the selection process. To Apply - CLICK HERE when the Link is open.

ICICI bank PO Programme 2013 - 2nd Merit List announced

Probationary Officer Training Programme is an initiative of ICICI Bank to attract young talent who wish to pursue a career in banking. It is designed to develop specialists with banking knowledge and skills to fulfill the future need of trained bankers. It is a one year full time residential training programme, conducted at ICICI Manipal Academy campus, Bangalore. Applicants joining the Probationary Officer Training Programme will be enrolled for MBA in Banking and Finance with Manipal University, an UGC recognized University. Since its inception in 2007 more than 6,800 students have joined the Bank and currently 1,900 students are undergoing the training at the ICICI Manipal Academy Campus in Bangalore.
MBA (Banking & Finance) program consists of two phases:
Phase I (12 months): This phase comprises of 9 months of on-campus classroom training & 3 months of internship in ICICI Bank. Upon successful completion of this phase, participants are awarded a Post Graduate Diploma in Banking (PGDB).  To View First Merit List - CLICK HERE
To View Second Merit List - CLICK HERE
Salient Features of Probationary Officer Training Programme:
The training has a blended curriculum with instructor led classroom sessions, e-learning and internship at ICICI Bank branches/offices. The training imparts knowledge and skills in core banking (banking products,banking operations, channels and customers, receipts and payments, etc). The trainees will have the opportunity to specialize in one of the following areas in banking: i) Trade Finance & CMS. ii) Branch & Relationship Management. iii) Private Banking & Wealth Management. iv) Rural and Inclusive Banking. v) Any other Profile as decided by ICICI Bank. The participants are put through a very rigorous training with special emphasis on application of knowledge and overall development of personality. The classroom sessions (9 months) are conducted at the ICICI Manipal Academy and internship (3 months ) at any ICICI Bank branch or office (within India). The Probationary Officers are paid stipend for the first 9 months to meet the out of pocket expenses and a higher stipend during internship. The Probationary Officers will get an assured employment with ICICI Bank on successful completion of the Probationary Officer Training Programme. The faculty is comprised of experienced professionals in the domain of banking and finance and behavioral sciences. There is a special focus on the overall grooming of the individuals and that is further facilitated through a learning environment that is created through lectures delivered by experts from ICICI Bank and the banking industry. The campus is equipped with the best educational infrastructure e.g. air-conditioned classrooms, video conferencing rooms, auditorium, well stocked library, boarding and lodging facilities, recreation and sports facilities, etc. The residential nature of the programme ensures that the Probationary Officers imbibe the culture and values of ICICI Group. Phase II [Optional] (18-30 months): This phase comprises of 18 months of Online Training (3 Semesters). It is designed to provide managerial skills to the students. This phase commences after the students join the Bank. It provides an opportunity to complete the training programme while working. On completion of this phase by participants who opt for it and pay the requisite fee, an MBA( Banking and Finance) is awarded by the Manipal University. Students have the option of completing Phase II in 30 months. MBA degree will be conferred only on the successful completion of both Phase I and Phase II.