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

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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

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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