Archive | March, 2012

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Todays Life bits and Tips to get a an Indian Passport

Posted on 29 March 2012 by admin

 

 

Online Application Procedure to get a Passport

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BRICS trade ministers meeting today in New Delhi 28 Mar 2012

Posted on 28 March 2012 by admin

Trade ministers of Brazil, Russia, India and South Africa (BRICS) will meet in New Delhi today to discuss ways to strengthen economic ties ahead of the BRICS Summit.The summit will be held on Thursday.Commerce and Industry Minister Anand Sharma will meet his counterparts from Brazil Fernando Pimente, Chen Deming from China and Russia’s Elvira Nabiullina and Rob Davis from South Africa.

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Current Affairs-2012 Seoul Nuclear Security Summit

Posted on 28 March 2012 by admin

SEOUL – Leaders of 53 countries and four international organisations agreed in Seoul on Tuesday to implement specific plans and action to prevent nuclear terrorism and ensure atomic energy safety.

The two-day 2012 Seoul Nuclear Security Summit closed on Tuesday afternoon at COEX in southern Seoul where South Korean President Lee Myung-bak held the Chair’s press conference to announce the results of the summit.

“The leaders unanimously adopted the Seoul communique, the official document of the summit,” Lee told reporters.

“This summit’s core accomplishment concerns the reduction of highly-enriched uranium and plutonium which is of the greatest significance in preventing nuclear terrorism.”

It was a major achievement that Ukraine and Mexico decided to completely eliminate HEU, he said.

Regarding concerns about the possibility of trafficking of nuclear materials from North Korea and Iran, Lee said the international community would closely cooperate in tracking nuclear sources.

The Seoul Communique, adopted by the 58 participating countries and international organizations including the UN, IAEA, EU and Interpol, called for further minimising HEU and plutonium, enhancing protection of atomic energy facilities and preventing trafficking of nuclear materials.

The communique encouraged summit participants to adhere to international conventions in the area of nuclear security, including the Physical Protection of Nuclear Material and the International Convention for the Suppression of Acts of Nuclear Terrorism.

It also called on the states to voluntarily announce and take specific actions to minimise the use of HEU by 2013 and addressed transportation security to prevent theft of nuclear materials by terrorists.

US President Barack Obama, who initiated the Nuclear Security Summit in 2010, urged participants to continue fighting nuclear terrorism.

“There were those who questioned whether our nations could summon the will to confront one of the gravest dangers of our time,” Obama told the other leaders at the meeting, according to a transcript released by the White House.

“There was some skepticism that we would be able to sustain an effort around this topic. But that’s exactly what we’ve done.”

Along with the communique, participating countries announced their individual goals to reduce or scrap civilian HEU.

Others vowed to convert military-purpose HEU into material for non-military purposes.

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Twitter and world famous tweets

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Twitter and world famous tweets

Posted on 28 March 2012 by admin

Twitter is an online social networking service and microblogging service that enables its users to send and read text-based posts of up to 140 characters, known as “tweets”. It was created in March 2006 by Jack Dorsey and launched that July. The service rapidly gained worldwide popularity, with over 300 million users as of 2011,generating over 300 million and handling over 1.6 billion search queries per day.It has been described as “the SMS of the Internet.”

Twitter Inc. is based in San Francisco, with additional servers and offices in New York City.The official website address of twitter is www.twitter.com

Twitter Logo. “Larry the Bird”

On Monday, February 27, 2012, a tweet from an employee that works on the company’s platform and API discussed the evolution of the “Larry the Bird” logo with Twitter’s creative director and it was revealed that it was named after Larry Bird of the NBA’s Boston Celtics fame. This detail had previously been confirmed when the Boston Celtic’s director of interactive media asked Twitter co-founder Biz Stone about it in August 2011.

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PF Rate reduced to 8.25% from 9.50%

Posted on 24 March 2012 by admin

Employees Provident Fund Organization (EPFO) has slashed the return on statutory savings to 8.25% for the current fiscal from 9.5%  last year, on cues from finance minister Pranab Mukherjee. A notification for the reduction in rates for 4.72 crore EPFO subscribers was issued earlier this week, and comes days before the general Budget.
In the present structure, the returns will be lower than the 8.6% paid under for public provident fund (PPF) deposits, a popular voluntary savings scheme. Banks too are offering 9%- 9.5% deposits of much shorter duration. But compared to banks, returns on EPF are better since the annual contribution and the interest on the balance are tax free.

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South Korean Novelist Wins Man Asian Literary Award

Posted on 24 March 2012 by admin

Kyung-sook Shin has won the Man Asian Literary Prize for her novel, Please Look After Mom. The South Korean novelist is the first woman to win the award.

The novel is about a family’s search for their mother, who goes missing one afternoon amid the crowds of the Seoul Station subway. It offers the reader an insight into traditional family life in contemporary South Korea.

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After 244 Yrs, Encyclopedia Britannica Goes Out of Print

Posted on 24 March 2012 by admin

Encyclopedia Britannica, a reference book in homes and libraries worldwide, will stop publishing the print edition for the first time in 244 years and shift focus to digital versions.

The book-form of the encyclopedia first hit the print in Scotland in 1768 and will stop being available after the current stocks run out, the Chicago based company announced.

The last edition of the 32-volume encyclopedia will be the 2010 one and the company said it will keep selling print editions until the current stock of around 4000 sets runs out.

“The announcement that we will no longer print the 32-volume encyclopedia is of great significance, not for what it says about our past, but for what it projects about our vibrant present and future as a digital provider of general knowledge and instructional services,” the company’s president Jorge Cauz said in a blog post titled Looking Ahead.

But whatever be the fate of printed Encyclopedia Britannica, it has already made history with thousands of contributors including Nobel laureates and world leaders like President Bill Clinton.

The end of the printed version was foreseen and the printers said they were seeking to keep its relevance in a digital market place that is increasingly dominated by e-books and tablets.

For Encyclopedia Britannica, the sales worldwide climaxed in 1990 when over 120,000 sets were sold, but sales fell to just 40,000 six years later. The final hardcover version on the shelf is priced at USD 1395.

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Sports Round UP this Week

Posted on 24 March 2012 by admin

Pakistan Beat Bangladesh by 2 Runs, Win Asia Cup

Pakistan regained the Asia Cup title after a gap of 12 years as they pulled off a nail-biting two run victory against Bangladesh who came agonisingly close to a historic triumph but ran out of steam in the dying moments to go past the target.

Pakistan were restricted to a modest 236 for nine but held their nerve to stop the spirited hosts at 234 for eight, shattering Bangladeshi hopes of notching up their maiden Asia Cup title.

It was a case of so near and yet so far the Bangladeshis who reached the final for the first time and very nearly upstaged their fancied opponents in a tournament in which they upset world champions India and Sri Lanka.

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Tell the world what you want to see in your lifetime

Posted on 24 March 2012 by admin

World TB Day 24 March 2012.

Tell the world what you want to see in your lifetime

Progress in the global fight against TB cannot wait. For the World TB Day Campaign 2012, you can make an individual call to stop TB in your lifetime.
Do you want to see zero deaths from TB, faster treatment, an effective vaccine?

Visit www.mystoptb.org to make your own poster or upload a video with a personal message.
The World TB Day Campaign 2012 will allow people all over the world to make an individual call to stop TB in their lifetimes.

In their lifetimes, today’s children should expect to see a world where no one gets sick with TB.
In their lifetimes, women and men should expect to see a world where no one dies from TB.

People of different ages and living in different countries could have these hopes for stopping TB in their lifetimes:

  • Zero deaths from TB
  • Faster treatment
  • A quick, cheap, low-tech test
  • An effective vaccine
  • A world free of TB.

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Shiva Thapa (56kg) was the lone Indian boxer to make the final after Olympic-bound Vikas Krishan (69kg) settled for a bronze medal

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Shiva Thapa (56kg) was the lone Indian boxer to make the final after Olympic-bound Vikas Krishan (69kg) settled for a bronze medal

Posted on 24 March 2012 by admin

Shiva Thapa (56kg) was the lone Indian boxer to make the final after Olympic-bound Vikas Krishan (69kg) settled for a bronze medal following his loss in the semifinal of the 43rd men’s and women’s Grand Prix in Usti nad Labem, Czech Republic.

Shiva, who has been picked in the team for next month’s Asian Olympic Qualifiers in Kazakhstan, defeated Czech Republic’s Patrik Velky 9-5. He will now face Vittorio Jahyn Parrinnelo of Italy in the summit clash.

Vikas, on the other hand, lost to Cuba’s Despaigne Arisnoide 9-14.

Boxing: Shiva in finals, Vikas settles for bronze

“Both the boxers fought well but unfortunately Vikas lost. Shiva has been in good form ever since he came on the senior level last year and he showed why he is considered a promising talent. He was sharp as usual with his reflexes and has a solid defence,” coach Jagdeep Hooda, who is with the team, told PTI from Usti nad Labem.

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My Critics Haven’t Taught Me My Cricket: Tendulkar

Posted on 24 March 2012 by admin

“My critics haven’t taught me my cricket,” Sachin Tendulkar has said in a rebuttal to those who were calling for him to retire.

The day he feels “a little less passion” when walking out to bat for India, “I will give up the game”, the master batsman said, adding, “critics didn’t need to tell me to do so.”

Tendulkar said he had played cricket because he loved to do and there was nothing better than playing for India.

“I still get goosebumps as I stand with my teammates when the national anthem is on. I still feel the same passion when I pick up my bat and go out,” he said in an interview carried in the latest issue of Open magazine.

“They (critics) can question but none of them have answers to their own questions. None of them has been in my predicament and it is impossible for them to understand what I have been thinking and feeling,” said Tendulkar, who scored the historic 100th international ton in the Asia Cup match against Bangladesh last week.

When asked whether the final hurdle of scoring the hundredth century was the most difficult, the veteran batsman said: “There is no doubt it was. The 100th hundred was the most difficult to get. I really don’t know why but it was.”

“May be because it turned into a national obsession. May be because I wasn’t able to escape talk of the 100th hundred and it was affecting me at a subconscious level. May be God was trying me harder,” he said.

Asked whether the thought of retiring from ODI cricket had crossed his mind after India won the World Cup last year, Tendulkar said such a thought had never occurred to him.

“A number of my friends have also asked me why I didn’t retire from ODI cricket after winning the world cup, they may well be right. It would indeed have been a grand exit, emotions were running high and the timing could not have been better but to be honest such a thought never occurred to me,” he said.

“The World Cup was about India and I had no right to make it an event of my own. My retirement was a non-issue, really. Had I made the announcement soon after winning the trophy, the focus would have shifted from the Cup triumph to my retirement,” Tendulkar said.

“Frankly, retirement isn’t of any significance when pitched against a World Cup victory. It was never about Sachin Tendulkar, it was about India and India only. It was not the time to turn selfish,” he explained.

Tendulkar said he was enjoying his game and retirement was not something he was thinking about as yet.

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Mukul Roy takes over as the new Railway Minister

Posted on 21 March 2012 by admin

Trinamool Congress leader Mukul Roy was administered oath as the new Railways Minister by President Pratibha Patil on Tuesday morning at the Rashtrapati Bhavan. Mukul Roy, who is currently the Minister of State for Shipping, replaced his party colleague Dinesh Trivedi.

Roy’s induction into the Union Cabinet comes after Trivedi’s resignation was accepted on Monday night. Trivedi was forced to quit as Railways Minister in the wake of demand for his removal by his party chief Mamata Banerjee, who was upset over the hike in passenger fares announced in his maiden Railway Budget last week.

Earlier Banerjee had announced Roy’s name as Trivedi’s replacement stating, “Mukul Roy will be next Railways Minister. He has been a Trinamool MP for six years already. He has been re-nominated to the Rajya Sabha this time. He is a good worker. Now the government will have to decide.”

57-year-old Mukul Roy has been with the Trinamool Congress since its founding, particularly during the party’s movements against land acquisition at Singur and Nandigram, but has always preferred keeping a low profile.

Roy, who was not into politics initially, was the non-executive director of the United Bank of India from 2002 to 2005.

He became a member of the Rajya Sabha from West Bengal in April 2006 and in August the same year was appointed member of the Committee on Urban Development as well as a member of the Consultative Committee for the Ministry of Home Affairs.

In April 2008, he was appointed his party’s all India General Secretary and in May 2009 became Minister of State in the Shipping Ministry.

When Mamata Banerjee resigned as the Railway Minister after becoming Chief Minister of West Bengal, Roy was handed additional charge of the Railway Ministry.

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India’s poverty line now lowered to Rs 28 per day

India’s poverty line now lowered to Rs 28 per day

Posted on 21 March 2012 by admin

New Delhi: Planning Commission on Monday further reduced poverty line to Rs 28.65 per capita daily consumption in cities and Rs 22.42 in rural areas, scaling down India’s poverty ratio to 29.8 per cent in 2009-10, the estimates which are likely to raise the hackles of civil society.

An individual above a monthly consumption of Rs 859.6 in urban and Rs 672.8 in rural areas is not considered poor, as per the controversial formula.

Furthermore, the Plan panel has kept the poverty threshold even lower than it submitted to the Supreme Court last year, which created an outcry among the civil society.

India's poverty line now lowered to Rs 28 per day

The Plan panel had said in its affidavit before the apex court that the “poverty line at June 2011 price level can be placed provisionally at Rs 965 (32 per day) per capita per month in urban areas and Rs 781 (26 per day) in rural areas”.

The civil society had questioned this definition stating it was very low.

As per estimates released today, the number of poor in India has declined to 34.47 crore in 2009-10 from 40.72 crore in 2004-05 estimated on the basis of controversial Tendulkar Committee methodology.

The methodology recommended by the Committee includes spending on health and education, besides the calorie intake.

Among religious groups, Sikhs have lowest poverty ratio in rural areas at 11.9 per cent, whereas in urban areas, Christians have the lowest proportion of poor at 12.9 per cent. Poverty ratio is the highest for Muslims, at 33.9 per cent, in urban areas.

Further, poverty in rural areas declined at a faster pace than in urban cities between 2004-05 and 2009-10.

Pic and News Source : Reuters  & CNNIBN

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Current Affairs Today-Dadasaheb Phalke Award Announced

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Current Affairs Today-Dadasaheb Phalke Award Announced

Posted on 21 March 2012 by admin

Bengali actor Soumitra Chatterjee to get Dadasaheb Phalke Award

New Delhi: Veteran Bengali actor Soumitra Chatterjee will receive the 2011 Dada Saheb Phalke Award for lifetime contribution to cinema. Chatterjee, 77, who has won a National Award in 2008 for his film ‘Podokkhep’, is an iconic actor in Bengali cinema with a career spanning over half a century.

He has worked alongside most of the stalwarts of the industry, including legendary actor Uttam Kumar, and some of the best directors of the country.

His best work includes films with honorary Academy Award winning director Satyajit Ray and Tapan Sinha. Apur Sansar, Devi, Teen Kanya, Abhijan, Ashani Sanket, Sonar Kella and Joy Baba Felunath are some of the films he shot with Ray.

Bengali actor Soumitra Chatterjee to get Dadasaheb Phalke Award

“This award means a lot to me. I am grateful to my viewers,” Chatterjee said on Wednesday.

The Dada Saheb Phalke Award is the highest honour in Indian cinema given annually by the Government of India for lifetime contribution.

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Recipients of Dada Saheb Phalke Awards and years

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Recipients of Dada Saheb Phalke Awards and years

Posted on 21 March 2012 by admin

Recipients of Dada Saheb Phalke Award
Year
Shyam Benegal – Director 2006
Adoor Gopalakrishnan – Director 2005
Mrinal Sen – Director 2004
Dev Anand- Actor, Director, Producer 2003
Yash Chopra – Director, Producer 2002
Asha Bhosle – Singer 2001
Hrishikesh Mukherjee – Director 2000
B.R. Chopra – Director, Producer 1999
Pradeep – Lyricist, Poet 1998
Sivaji Ganesan – Actor 1997
Dr. Raj Kumar – Actor, Singer, Producer 1996
Dilip Kumar – Actor 1995
Majrooh Sultanpuri – Lyricist 1994
Bhupen Hazarika – Composer, Singer, Producer 1993
Bhalji Pendharkar – Producer, Director 1992
A. Nageshwar Rao- Actor 1991
Lata Mangeshkar – Singer, Producer 1990
Ashok Kumar – Actor, Singer 1989
Raj Kapoor – Actor, Director 1988
B. Nagi Reddi –  Producer 1987
V.Shantaram – Director, producer, actor 1986
Satyajit Ray – Director, Producer 1985
Durga Khote – Actress 1984
L.V. Prasad – Actor, Director, Producer 1983
Naushad- Composer 1982
Jairaj – Actor, Director, Producer 1981
Sohrab Modi – Actor, Director, Producer 1980
R.C. Boral – Composer 1979
Nitin Bose – Cinematographer, Director,  Producer 1978
Kanan Devi – Actress, Singer, Producer 1977
Dhiren Ganguly – Actor, Director, Producer 1976
B.N. Reddi – Director, Producer 1975
Sulochana- Actress 1974
Pankaj Mallick – Singer, Actor, Composer 1973
Prithviarj Kapoor – Actor, Director, Producer 1972
B.N. Sircar – Producer 1971
Devika Rani – Actress 1970

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Bank Exam Special Edition from General Knowledge Today

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Bank Exam Special Edition from General Knowledge Today

Posted on 16 March 2012 by admin

Dear General Knowledge Today Readers,
This edition of general knowledge today is specially focused on Bank Exam Preparation.
Hope this special edition will help you a lot in preparation of upcoming bank examinations.

Best Regards,
admin,
Generalknowledgetoday.com

Upcoming Bank Recruitment Exams:-

 

Bank Post & Vacancies Last date for applying Test date
(tentative)
United Bank of India 450 PO Recruitment 2012 450 Probationary Officers’ Posts Feb 24 to Mar 9 , 2012 Interview Dates to be mentioned Later
Allahabad Bank 1600 PO Recruitment 2012 1600 Probationary Officers’ Posts Mar 10, 2012 Interview Dates to be mentioned Later
Bank of Baroda 600 PO Recruitment 2012 600 Probationary Officers’ Posts Feb 21 to Mar 10, 2012, Interview Dates to be mentioned Later
Bihar Kshetriya Gramin Bank Officers Recruitment 2012 56 Officers’ Posts Feb 13 to Mar 12, 2012 Apr 15, 2012,
Madhya Bihar Gramin Bank Officers and Assistants Recruitment 2012 185 Officers and 211 Assistants Mar 15, 2012, Office Assistants :- May 06 , 2012, Officers (All Scales :- May 13, 2012
Gurgaon Gramin Bank Officers and Assistants Recruitment 2012 72 Officers and 124 Assistants Mar 3 – 15, 2012, Office Assistants :- Apr 08, 2012, Officers :- Apr 15, 2012
Bank of Maharashtra 457 PO Recruitment 2012 457 Probationary Officers’ Posts (IBPS SCORE) Feb 25 to Mar 16, 2012 Interview Date to be Mentioned Later ,
UCO Bank 1100 PO Recruitment 2012 1100 Probationary Officers’ Posts (IBPS SCORE) Feb 27 to Mar 17, 2012, Interview Date to be Mentioned Later ,
National Insurance 345 Administrative Officers (Scale -I) recruitment 2012 Administrative Officers (Scale – I) :- 345 Posts Mar 17, 2012 Apr 22, 2012
Reserve Bank of India 1000 Assistants Recruitment 2012 1000 Assistants Posts Mar 25, 2012, Apr 29, 2012
State bank of India 9500 Clerks Recruitment 2012 Clerks – ( Assistants – 8500 Posts, Stenographers – 1000 Posts ) Mar 05 to 26, 2012, 27.05.2012 and 03.06.2012
IBPS Second Common PO/MT Posts written Test (CWE) in June 2012 PO/MT Posts in 19 PSU Banks Mar 30 2012, June 17, 2012 
www.BankNaukri.in -Get all the latest info about Bank jobs in India and Common Bank Exams in 2012.
Also know how to prepare for bank exams and interviews for bank jobs'

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The Reserve Bank of India

Posted on 16 March 2012 by admin

The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.

The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937. The Central Office is where the Governor sits and where policies are formulated.

Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the Government of India.

Preamble

The Preamble of the Reserve Bank of India describes the basic functions of the Reserve Bank as:

“…to regulate the issue of Bank Notes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage.”

Central Board

The Reserve Bank”s affairs are governed by a central board of directors. The board is appointed by the Government of India in keeping with the Reserve Bank of India Act.

  • Appointed/nominated for a period of four years
  • Constitution:
    • Official Directors
      • Full-time : Governor and not more than four Deputy Governors
    • Non-Official Directors
      • Nominated by Government: ten Directors from various fields and one government Official
      • Others: four Directors – one each from four local boards

Functions : General superintendence and direction of the Bank”s affairs

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Organisation  Structure of Reserve Bank of India

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Organisation Structure of Reserve Bank of India

Posted on 16 March 2012 by admin

 

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RBI’s role as Banker to Indian Government

Posted on 16 March 2012 by admin

1. What is RBI’s role with regard to conduct of Government’s banking transaction?

In terms of Section 20 of the RBI Act 1934, RBI has the obligation to undertake the receipts and payments of the Central Government and to carry out the exchange, remittance and other banking operations, including the management of the public debt of the Union. Further, as per Section 21 of the said Act, RBI has the right to transact Government business of the Union in India.

State Government transactions are carried out by RBI in terms of the agreement entered into with the State Governments in terms of section 21 A of the Act. As of now, such agreements exist between RBI and all the State Governments except Government of Sikkim.

2. How does Reserve Bank of India discharge its statutory obligation of being ‘Banker to Government’?

Reserve Bank of India maintains the Principal Accounts of Central as well as State Governments at its Central Accounts Section, Nagpur. It has put in place a well structured arrangement for revenue collection as well as payments on behalf of Government across the country. A network comprising the Public Accounts Departments of RBI and branches of Agency Banks appointed under Section 45 of the RBI Act carry out the Govt. transactions. At present all the public sector banks and three private sector banks viz. ICICI Bank Ltd., HDFC Bank Ltd. and Axis Bank Ltd. act as RBI’s agents. Only authorised branches of Agency banks can conduct Govt. business.

3. How payment into Government account is made?

All monies for credit to Government account like taxes or other remittances can be made by filling the prescribed challans of the Government/Department concerned. These challans along with the requisite amount (by way of cash, cheque or DD) are required to be tendered with the authorised bank branches.

4. When is the receipted challan for payment made into Government Account made available?

The receipted challans in case of cash tender are generally handed over to the remitter immediately across the counter. In case of payments made by cheque/DD, the receipted challan is issued only on realization of the instruments based on the clearing cycle of the local Clearing House. In all such cases, a paper token is issued to the depositor indicating the date on which the receipted challan will be ready for delivery. The receipted challan will have to be collected within 15 days from the date indicated on the paper token by surrendering the paper token.

5. What if the paper token is misplaced / lost?

In case of loss of original token, on a specific request and on payment of prescribed fees, the receipted challan is issued.

6. What if the Receipted Challan is misplaced?

No duplicate challan is issued under any circumstances. Instead, a ‘Certificate of Credit’ is issued on specific request with the requisite particulars and payment of prescribed fee.

7. What is the remedy if the cheque issued by Government is misplaced or lost in transit?

The payee of the cheque has to approach the cheque issuing authority and apply for a duplicate cheque explaining the circumstances under which the original cheque was lost or misplaced. After satisfying himself, the drawer may issue a letter to the payee bank requesting it to record STOP payment against the lost cheque. The bank thereafter checks whether the cheque is already paid. If not paid, it records ‘STOP PAYMENT’ order till the expiry of the validity of the cheque and issues a ‘NON PAYMENT CERTIFICATE’.

8. Are Agency banks compensated for conduct of Central/State Government business?

The accredited banks are paid remuneration by RBI for conduct of State/Central Government transactions. Such remuneration is called Agency Commission. The rates of agency commission applicable at present (from 1.7.2005) are as under:

1.
Receipts : Rs. 45 per transaction

2.

Pension Payments : Rs. 60 per transaction

3.

Payments other than pension : 9 Paise per Rs.100/- turnover

On-line Tax Accounting System (OLTAS) for Direct Taxes

9. What is OLTAS?

It is a system introduced in April, 2004 for collection, accounting and reporting of the receipts and payments of Direct Taxes on-line through a network of bank branches. The tax payers’ data flow from banks directly to Tax Information Network (TIN) maintained by National Securities Depository Ltd.

10. What are the major changes envisaged?

Under OLTAS, only a Single Copy Challan is used with a tear off portion for the Tax Payer. The three new single copy challan in use are as under:

A common single copy Challan No. ITNS 280 for payment of Income Tax on Companies (Corporation Tax) and Income Tax (other than Companies).

Challan No. ITNS 281 for depositing Tax Deducted at Source/Tax collected at source (TDS/TCS). It has two major Heads i.e. (a) 0020 for company deductees and (b) 0021 for non-company deductees.

Challan No. ITNS 282 for payment of Hotel Receipts Tax, Gift-Tax, Estate Duty, Expenditure Tax, Wealth Tax, Securities Transaction Tax and Other miscellaneous direct taxes.

11. Does a tax-payer get his copy of the challan?

No. He only gets the tear-off portion from the challan from the bank after getting it duly stamped by the bank with a unique Challan Identification Number (CIN).

12. What is CIN?

It is Challan Identification Number. It is a unique number containing the following information:

(i)   7 digits BSR Code of the bank branch where tax is deposited
(ii)  Date of presentation of the challan (DD/MM/YY)
(iii) Serial number of Challan in that branch on that day (5 digits)

The CIN has to be quoted in the Income Tax Return as a proof of payment. CIN is also to be quoted in any further enquiry.

13. How to obtain the new Challans?

The Challans are available on the website http://www.incometaxindia.gov.in. Challans are also available at the local Income Tax Offices and also with private vendors.

14. What would happen if theacknowledgement counterfoil is misplaced?

Approach the bank where tax was deposited. The branch will issue a certificate after following certain procedures which contains payment particulars including CIN.

15. Can the Tax payer pay Direct/Indirect taxes through internet?

Yes. Most of the banks are providing the facility to their customers.

16. Where can a tax-payer get the detailed procedure on OLTAS?

Please visit http://www.incometaxindia.gov.in.

17. What is the new procedure for payment of direct taxes at banks?

The authorised bank branches accept Direct Taxes by cash or cheque/demand draft drawn on the same branch or on other banks/branches with Single Challan. The bank immediately returns the tear off portion of the challan duly stamped with a unique Challan Identification Number (CIN) when the payment is made in cash. In the case of challans presented with cheque/demand draft drawn on other banks/branches, tear-off portion of the challan will be released to the tax-payer only after the realisation of the cheque/demand draft but tax shall be deemed to have been paid on the date of tender.

18. How does the new system benefit the taxpayer?

The new system is of immense benefit to the common taxpayer. Now a single copy simplified Challan has to be filled up replacing the earlier quadruplicate Challan. Secondly, it would be possible to obtain an acknowledgement for taxes paid at your own bank branch immediately. Further, the acknowledgement counterfoil with the rubber stamp containing the Challan Identification Number (CIN) assures that the payment is properly accounted for. The Tax payer can view the details of tax paid by him by logging on to http://tinnsdl.com and typing the unique CIN given by the bank. (For more details please visit NSDL Home page www.nsdl.co.in). Tax-payer is no longer required to attach copies/acknowledgement of challan with the Return. He should only mention the CIN details in the Income-tax Returns.

19. Can the tax-payer still use the old forms?

No. Tax is accepted only with the new prescribed challan forms.

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Security features in Indian Currency Notes

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Security features in Indian Currency Notes

Posted on 16 March 2012 by admin

  • Mahtma Gandhi (MG) Series 1996

The banknotes in MG Series – 1996 are available   in the denomination of Rs.5, (introduced in November 2001) Rs.10 (13-06-1996), Rs.20 (24-08-2001), Rs.50 (14-03-1997), Rs.100 (04-06-1996), Rs.500 (20-10.1997) and Rs.1000 (November 2000).  All the banknotes of this series bear the portrait of Mahatma Gandhi on the obverse (front) side, in place of symbol of Lion Capital of Ashoka Pillar, which has also been retained and shifted on the same side. This means that these banknotes contain Mahatma Gandhi watermark as well as Mahatma Gandhi’s portrait.

Are there any special features in the banknotes of Mahatma Gandhi series- 1996?

The Mahatma Gandhi series-1996 banknotes contained several special features vis-à-vis the banknotes issued earlier. These are

    1. Security thread: Rs.10, Rs.20 and Rs.50 notes contain fully embedded security thread. Rs.100, Rs.500 and Rs.1000 banknotes contain windowed security thread. This thread is partially exposed and partially embedded. When held against light, this thread can be seen as one continuous line. Other than on Rs.1000 banknotes, this thread contains the words ‘Bharat’ in the Devanagari script and ‘RBI’ appearing alternately. The security thread of the Rs.1000 banknote contains the inscription ‘Bharat’ in the Devanagari script, ’1000′ and ‘RBI’.
    2. Latent Image:  The vertical band next to the (right side)  Mahatma Gandhi’s portrait,  contains a latent image, showing the denominational value 20, 50, 100, 500 or 1000 as the case may be. The value can be seen only when the banknote is held horizontally  and light allowed to fall on it at 45° ; otherwise this feature appears only as a vertical band.
    3. Micro letterings: This feature appears between the vertical band and Mahatma Gandhi portrait. It contains the word ‘RBI’ in Rs.10. Notes of Rs.20 and above also contain the denominational value of the banknotes. This feature can be seen better under a magnifying glass.
    4. Identification mark:A special intaglio feature (raised printing) has been introduced on the left of the watermark window, on the obverse (front) on all banknotes except Rs.10/- banknote. This feature is in different shapes for various denominations (Rs.20-Vertical Rectangle, Rs.50-Square, Rs.100-Triangle, Rs.500-Circle, Rs.1000-Diamond) and helps the visually impaired to identify the denomination

    5. Intaglio Printing: The portrait of Mahatma Gandhi, Reserve Bank seal, Guarantee and promise clause, Ashoka Pillar Emblem  and RBI Governor’s signature are printed in intaglio i.e. in raised prints in Rs.20, Rs.50, Rs.100, Rs.500 and Rs.1000 banknotes.
    1. Fluorescence: The number panels of the banknotes are printed in fluorescent ink. The banknotes also have optical fibres. Both can be seen when the banknotes are exposed to ultra-violet lamp.
    1. Optically Variable Ink: The numeral 500 & 1000 on the Rs.500 [revised colour scheme of mild yellow, mauve and brown] and Rs.1000 banknotes are printed in Optically Variable Ink viz., a colour-shifting ink. The colour of these numerals appears green when the banknotes are held flat but would change to blue when the banknotes are held at an angle.
  1. Watermark:    The banknotes contain the Mahatma Gandhi watermark with a light and shade effect and multi-directional lines in the watermark window.






iii) MG series – 2005 banknotes

MG series 2005 banknotes are issued in the denomination of Rs.10, Rs.20, Rs.50, Rs.100, Rs.500 and Rs.1000 contain some additional / new security features. The Rs.50 and Rs.100 banknotes were issued in August 2005, followed by Rs.500 and Rs.1000 denominations in October 2005 and Rs.10 and Rs.20 in April 2006 and August 2006, respectively.

The additional / new security features in MG Series 2005 banknotes.

  1. Security Thread: The machine-readable security thread  in Rs.10, Rs.20 and Rs.50 denomination banknotes is  windowed on front side and  fully embedded on reverse side. The thread fluoresces in yellow on both sides under ultraviolet light. The thread appears as a continuous line from behind when held up against light.
  2. Rs.100, Rs.500 and Rs.1000 denomination banknotes have machine-readable windowed security thread with colour shift   from green to blue when viewed from different angles.  It fluoresces in yellow on the reverse and the text will fluoresce on the obverse under ultraviolet light.
  3. Intaglio Printing:  The portrait of Mahatma Gandhi, Reserve Bank seal, Guarantee and promise clause, Ashoka Pillar emblem, Governor’s signature and the identification mark for the visually impaired persons are printed in improved intaglio.
  4. See through register:  Half the numeral of each denomination (10, 20, 50, 100, 500 and 1000) is printed on the obverse (front) and half on the reverse.  The accurate back to back registration makes the numeral appear as one when viewed against light.
  5. Water Mark and electrotype watermark:  The portrait of Mahatma Gandhi, the multi-directional lines and an electrotype mark showing the denominational numeral 10, 20, 50, 100, 500 and 1000 appear in this section respectively in each denomination banknote and these can be viewed better when the banknote is held against light.
  6. Optically Variable Ink (OVI): The font size of the numeral 500 and 1000 in Rs.500 and Rs.1000 denomination banknotes is reduced, as compared to MG series banknotes issued in these denominations earlier in the year 2000. The colour of the numeral appears green when the banknote is held flat but would change to blue when the banknote is held at an angle.
  7.  Dual coloured optical fibres, seen under UV lamp.
  8. Year of Printing:  Year of printing appears on the reverse of the banknote

All these banknotes issued by the Bank are legal tender.

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