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.

Tamilnad Mercantile Bank Final Results Announced 2013

The Final results of the candidates qualified in the Online Examination conducted on 10.02.2013 and Interview in various centres and locations from 02-04-2013 to 09-04-2013  in connection with Recruitment of Clerks-2012-13, have been individually intimated in mail and by Speed Post.
Final results were announced on 17-04-2013 in mail.

CONGRATULATIONS TO CANDIDATES WHO ARE PLACED!!

The selected candidates have to report on,

Staff Training College,
Charles Miller Street, II Floor,
College Road,
Nagercoil  -  629001

positively at 9.00 A.M. on Wednesday the 24th day of April 2013 in person for certificate verification and medical fitness examination. The Induction Training Programme will commence from 25.04.2013. Candidates are advised to bring the following original certificates along with attested copies for verification, when reporting to our Staff Training College.

I.     Date of birth proof certificate (S.S.L.C & HSC.)
II.    Qualification (Degree/Post Graduate certificate)
III.   Conduct certificate issued by the institution where last studied.
IV.   Transfer certificate
V.    Community certificate
VI.  Two passport size recently taken photographs.
VII. Certificates if any, regarding computer knowledge.

SBI PO 2013 Syllabus

SBI PO EXAM PATTERN & SYLLABUS

Reasoning
1. Direction based problems
2. Non Verbal Questions
3. Course of Action, Coding decoding
4. Cause Effect
5. Syllogism, Analogies
6. Sitting / Circular Arrangements
7. Input Output, Odd Pairs and Eligibility Test
8. Data Sufficiency

Data Interpretation
1. Permutations and combinations
2. Mensuration
3. Time, Speed, Distance problems
4. Line Graphs and tables
5. Charts

English
1. Synonyms and Antonyms
2. Jumbled and construction of sentences
3. Comprehension of passages

General Awareness
1. Banking terms
2. Computer Knowledge
3. Marketing Questions
4. Current Affairs and Latest events

Descriptive Test
1. Precis Writing
2. Essay Writing
3. Letter Writing
4. Reading comprehension and paragraph writing.

Election Commission to accept PAN card as Age proof

Election Commission has decided to accept PAN card as new evidence of date of birth for Voter's registration.
Apart from this in the absense of Birth Certificate, 10th std marksheets with DOB included, Grama Panchayat President, Municipal Members signed certificates, passports, Pan cards, Athar cards, Driving license are also accepted.

The new rule of including this is for the benefit of peoples and to increase voter's list, EC.

Plastic Currency Notes to be Introduced soon - RBI

Reserve Bank has decided to introduce Plastic Currency Notes for the first phase in main cities of the country.

The average lifespan of notes is nine months. To Increase this and to manage the problem of counterfeit of banknotes, RBI decided to circulate currency notes in plastic in Main cities of India. 
According to this, first 10 rupees worth notes is to be circulated on a test basis in main cities. Then it is extended to all notes and in all cities. 
Though Reserve Bank has undertaken an awareness campaign to identify Fake currency notes, it still exists - RBI. Writing in notes is also a criminal offense.
Thus it is the best alternative to introduce plastic notes as printing cost is also low.

8 percent DA rise for central government employees : Cabinet to decide today

Central Government employees to be given a 80 percent DA increase from the 72 percent, Cabinet to decide today.
This decision is made for the benefit 50 lakh central government employees and 30 lakh pensioners. 
Federal Ministry of Finance will hold discussions and is to be finalized today.
DA for the new promotion will be dated from the first of January 2013.  

72% DA is increased in last year September. In July 2012 it was first implemented.

Voter ID cards to be changed soon

The current black and white photograph with laminated paper is soon to be altered soon in Voter Id's.  
Like driving license, color photograph is to be printed in Plastic cards.  
In very low cost or free of cost old ID cards is to be Converted, EC announced.

What is SIDBI?

• The Small Industries Development Bank of India is a state-run bank aimed to aid the growth and development of micro, small and medium scale industries in India. 
• Set up in 1990 through an act of parliament, it was incorporated initially as a wholly owned subsidiary of Industrial Development Bank of India (IDBI).

What is SEBI?

• SEBI is the regulator for the Securities Market in India. 
• Originally set up by the Government of India in 1988, it acquired statutory form in 1992 with SEBI Act 1992 being passed by the Indian Parliament. 
• Present Chairman of SEBI is Mr.U.K.Sinha.

What is Regional Rural Banks (RRB)

Regional rural banks in India started since the establishment of banking sector in India.
Rural banks mainly focuses on agro sectors ( providing money as loan to farmers), village industries, handicraft etc.
These banks now penetrated every corner of the city and extended a helping hand in the growth process of the country.

What is CVV

CVV : Card verification value 

CVV is an anti-fraud security feature that helps to verify that you are in possession of your credit card or debit card and making the transaction. 
CVV is usually a three-digit number, printed on the signature panel at the back of your credit card or debit card. 
You need this number when shopping online or over the phone. You need to be careful with this number as it can make you a victim of fraud. It's best to remember this number and blacken it off from your card.

What is NEFT

NEFT: National electronic funds transfer 

NEFT enables funds transfer from one bank to another bank or one account to another account, but works a bit differently than RTGS since the settlement takes place in batches rather than individually, making NEFT slower than RTGS. 

The transfer is not direct and RBI acts as the service provider to transfer the money from one account to another. 

You can transfer any amount through NEFT, even a rupee. You won't have to pay any fee for inward transfer of funds, but for outward transactions the charges can be from Rs5-Rs25 depending on the amount transferred. 
You can use this facility if you want to transfer funds online in a day or two. 

What is RTGS

RTGS: Real time gross settlement 
It's a fund transfer mechanism that enables money to move from one bank to another on a real time and gross basis. Simply, real time means the transaction is settled instantly without any waiting period and gross means that it is not bunched with any other transaction. 

You can transfer a minimum of Rs1 lakh through RTGS, though there is no upper ceiling. The bank will charge you Rs25- Rs50 for an outward RTGS transactions and inward transactions are free. 

RTGS is the faster way of money transfer facility available through secure banking channels in India. 
But not all branches in India RTGS is enabled. Visit the Reserve Bank of India's (RBI) website for a list of branches where you will get this facility.

So along with the cheque the RTGS form is filled up and submitted to the counter.
After verifying, money is transferred on real time and gross basis.

This facility would be very much helpful during an emergency situation when an ill child studying in another city or a parent in an emergency situation where they need money at once. You would be able to use this facility if you use Internet banking as a channel. It is mostly used by high networth individuals and businessmen, who have atleast Rs l lakh to be transferred business associates or clients.

What is MICR

MICR: Magnetic ink character recognition 
MICR code is a nine-digit number printed on banking instruments such as a cheque or a demand draft using a special type of ink made up of magnetic material. 

The first three digits denotes the city. The fourth to sixth digits denotes the bank, while the last three digits denotes the branch number. The code is read by a machine which minimizes the chances of error in clearing of cheques, thereby making funds transfer faster and safe. 

For example, in the MICR code 400240019  400 denotes Mumbai, 240 denotes XXX Bank and 019 denotes the Area branch of the bank. 
You will find the number on the right of the cheque or the bottom of the cheque leaf

What is an Overdraft

This is when a person has a minus figure in his account. It can be authorized (agreed in advance) or unauthorized (where the bank has not agreed to the overdraft either because the account holder represents to a great risk to lend back money to bank)

Various Deposits in Bank

Demand Deposit
A Demand deposit is one which can be withdrawn at any time, without any notice or penalty.
e.g. money deposited in savings account in a bank. 

Time Deposit
Time depot is one which  cannot be withdrawn for a certain "term" or period of time. When the term is over it can be withdrawn or it can be held for another term.

Fixed Deposits 
FDs are the deposits that are repayable on fixed maturity date along with the principal and agreed interest rate for the period. Banks pay higher interest rates on FDs than the savings bank account. 

Recurring Deposits 
These are also called cumulative deposits and in recurring deposit accounts, a certain amount of savings are required to be compulsorily deposited at specific intervals for a specified period. 

Savings Account 
Savings account is an account generally maintained by retail customers who deposit money (i.e. their savings) and can withdraw them whenever they need. Funds in these accounts are subjected to low rates of interest.
In these accounts the money can be withdrawn at any time whenever they need. So it is subjected to low interest rates.

Current Accounts 
These accounts are maintained by the corporate clients or business peoples that can be operated any number of times in a day, There is a small maintenance charge for the current accounts for which the holders enjoy facilities of easy handling, overdraft facility etc 

FCNR Accounts
Foreign Currency Non-Resident accounts are the ones that are maintained by the NRIs in foreign currencies like USD., DM, and GBP etc. These account is a term deposit with interest rates linked to the international rates of interest of the respective currencies. 





NRE Accounts
Non Resident External Accounts are the ones in which NRIs remit money in any permitted foreign currency and the remittance is converted to Indian rupees for credit to NRE accounts. This account can be in any form of current, saving, FDs, recurring deposits. The interest rates and other terms of these accounts are as per the RBI directives.

Relation between Inflation and Bank interest rates: How does inflation affect rates?

• Inflation, in simple terms is a sustained increase in general price level.
• In other terms it can also be described as a situation in which excess money chases fewer goods, causing increase in demand of goods and thus leading to an increase in price.
• Thus if this demand created by excess money can be curtailed, inflation would be contained.
• This is the genesis behind controllin inflation through monetory policy.

How the inflation is controlled?

• If inflation occurs interest rates are increased (ie)
• Both Repo and Reverse Repo rate in increased.
• If repo rate is increased, rate at which banks borrow from RBI is increased, and so borrowing will become costly and banks would thus either borrow less or pass on this increased to their borrowers.
• Simultaneously, Reverse repo rate is also increased, which tends to divert more funds to Central bank(RBI) and excess liquidity will be absorbed by RBI rather than going at cheaper cost in the economy.
• In either of the cases, actual lending will be less and demand for goods and services will be less.

By this money flowing is decreased in the country and to the people.

What is Inflation?

• Inflation is as an increase in the price of bunch of Goods and services that projects
  the country's economy. 
• An increase in inflation figures occurs when there is an increase in the average level of prices in Goods and services. 
• Inflation happens when there are fewer Goods and more buyers; this will result in increase in the
  price of Goods, since there is more demand and less supply of the goods.

Major Banks And Medium Banks in India

As of now apart from Sbi there are 19+1 Nationalised Banks.
Of this based on their transactions, branches, profit, ATM centres, Customer care banks are classified into Major and Medium banks.
Out of 19+1 banks there are 6 Major banks and 13 Medium banks.

Major Banks:

• Punjab National Bank
• Canara Bank
• Bank of India
• Bank of Baroda
• Union Bank of India
• Central Bank

These banks are considered to be the Major banks and rest are Medium banks. This would be helpful while giving preference among banks.

IBPS SPECIALIST OFFICER RESULT OUT

Finally IBPS Specialised Officer Results are out after 1 month.
Exam Conducted on : 16.03.2013

To check Result : Click Here

GOVT to Divulge Tax Shelters

For a long time who engage in tax evasion the Income tax department has decided to Divulge their name and address in Newspapers.Central government has its revenue from direct and indirect tax. The central government tried a lot further to collect tax revenue but it does not get the expected revenue. some people have left a long time without paying tax so this moved to divulge tax shelters
However, long-term work has compiled to prepare a list of tax evaders. If finished, will be posted on the website. And also information on tax evaders can be provided by people also, the income tax department announced.

Govt plans to open Women's Post Office in Villages

Govt plans to open Women's Post Office which is serviced by only women in villages.
Soon in big cities the process will be extended and 3 to 4 offices will be opened. 
In secondary cities the Postal Dept seeking to open atleast 1 branch.
It will function from next six months, Mr.Gopinath, Secretary said.
 According to Mr.Kapil Sibal, Communication Minister, these post office are opened for the benefit of women and it requires a low number of women. Moreover, it would be easy to come to work.

Currently, women Postal Office functions in the University of Delhi, Downhill area of Mumbai and Hyderabad and across the country there were 1.55 lakh post office. In this, 1.39 lakh in rural areas, and 16 thousand in urban areas.

Banks Credit increases to 17% and deposits increases to 17.4%

In the Financial year 2012-13 Banks credit had a subsequent increase of 17 percent while the deposits shows a growth of 17.4 percent, the statistics issued by Reserve Bank. 
The estimated loan and deposit growth rate is remarkable. Last March, banks loan had an increase of 5.3 per cent, and estimated to be 53.95 lakh crore rupees, and the accumulated deposits had an increase of 5.7 per cent and estimated to be 69.36 lakh crore, Reserve Bank reported in the statistics.

IBPS Clerk 2 - How to give preference among banks

Common Interviews for IBPS Clerk-II results has already been declared by IBPS and also IBPS has declared the number of vacancies for this year – bank wise, state wise and category wise.
Now as decided IBPS will obtain order of preference of banks from the successful candidates through a registration process which will be starting from 15th April 2013. IBPS has already updated the link for the same on their website but the link will be active from 15th April onward only.  The registration process will go on till 22nd April 2013. Allotment will be done in the month of May 2013.


Click here to REGISTER YOUR PREFERENCES.


Please Note:

• Candidates successful in both CWE-Clerk II and Common interview will be listed in the order of merit.
• Depending on the vacancies in each bank of his/her preference, a successful candidate will receive through a computerised system an offer from ONE of the participating PSB’s.
• Vacancies remaining unfilled on account of candidates declining offer, will be filled from among the remaining candidates through the same procedure as mentioned above. 
  
• Candidates must produce the necessary documents in support of their identity and eligibility pertaining to nationality, age, educational qualification, qualifying marks, category etc.

Post your preference list in the comments section.

1. How many Banks can one prefer in the Order of Preference ?
One can register order of your preference for all the 19 Participating Banks.
2. Can I give posting location preference?
There is no such thing in this selection process. Some websites misguiding the candidates by saying that you will have to give posting location preference also. This is absolutely wrong.
3. Which banks to choose among the participating Banks?
This is very common question among the passed candidates. While giving preferences, one has to think about salary & allowances and also about posting location.

• Salary: Salary and allowances are more or less same for all participating banks. So, no need to worry about that.

• Posting Location: It is best to choose banks which have more number of branches in your state. 

For example, In Andhra Pradesh, Andhra Bank have more number branches compare to others. It is the lead bank in many areas. So that your chances of posting in your state will be high. Similarly, Bank of Maharashtra has more branches in Maharashtra than any other state. Keep this in mind so that you will be allotted the Bank of your region.

4. What is the allotment procedure with respect to preferences?
Allotment is based on three things- 
a) Vacancies, 
b) One’s preferences, & 
c) eligibility criteria set by the specific bank. 
Also, keep one thing in mind that in this process the seat allotment is completely based on the Merit Basis.
For Example: 

• If 1st ranker opted for Canara Bank and he has all the eligibility norms stipulated by Canara Bank, then he will get Canara Bank. If there are no vacancies in Canara Bank or if he is not fit for eligibility criteria of Canara Bank (Like age and Graduation %), his next preference will be considered for selection.

• In case of reserved candidates: If OBC candidate got marks above the General cutoff marks and his 1st preference is also satisfied in general vacancies, he will get allotment from General vacancy. If in his preferred bank, general vacancies are finished, he will be selected from OBC vacancies of respective bank (if there are any). If the OBC vacancies are also finished, then his next preference will be considered.

If you are still confused about the allotment process then leave all on IBPS. No need to worry more about the bank allotment process, the candidates will be made aware the allotment order list and procedure in detail after the final allotment list of banks have been published. There has been more transparency and the IBPS is striving hard continuously to implement a better recruiting system and let’s leave the rest to them.
5. What is the next step after allotment?
After allotment is done, final joining will be decided by the banks individually. They will call candidates to join bank whenever they want to absorb the candidates. It may take 2 to 6 months & will vary from bank to bank.

In Short, Choose the bank with most no. of branches and vaccancies in your state as your first preference & the one with least posts and branches as last preference.

Based on their transactions, branches, profit, ATM centres, Customer care banks are classified into Major and Medium banks.

Out of 19+1 banks there are 6 Major banks and 13 Medium banks.

Major Banks:

• Punjab National Bank
• Canara Bank
• Bank of India
• Bank of Baroda
• Union Bank of India
• Central Bank

These banks are considered to be the Major banks and rest are Medium banks. This would be helpful while giving preference among banks.