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Difference between eVFS and eDFS

Posted on 16 March 2012 by admin

Electronic Vendor Finance System (eVFS)

An application for all customers who require a vendor discount scheme and enjoy vendor financing limits with SBI and provides guarantee service through Instant Interest Recovery Process and Auto Debit of Reversal, which reduces hassles of the bank in recovering the finance.

Electronic Dealer Finance System (eDFS)

An application that aims to automate the loan disbursal and interest recovery process and provides a repayment model through the Internet banking and other channel system. The application is customizable for all customers who require a Dealer Discount Scheme and enjoy dealer financing limits with State Bank of India.

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Bank Exams-Solved Question Papers from Previous Bank Examinations

Posted on 23 February 2012 by admin

1. The Govt of India has decided to declare which of the following rivers a National River?
a) Brahmaputra
b)
Yamuna
c)
Ganga 
d)
Kaveri    
e)
None of these

2. Who amongst the folIowing economists gave the concept of “economies of scale”, which says “many goods and services can be produced more cheaply in long series”?

a) Edward C Prescott
b)
Amartya Sen
c)
Gary S Becker
d)
Edmund S Phelps
e)
Paul Krugman

3. Very often we read in newspapers/magazines about “Sovereign Wealth Funds”. Which of the following is/ are the correct description of the same?

(A) These are the funds or the reserves of a government or central bank of a country which are invested further to earn profitable returns.
(B) These are the funds which were accumulated by some people over the years but were not put in active circulation as they retain them as Black Money for several years.
(C) The funds which are created to be used as relief funds or bailout packages are known as sovereign funds.
a) Both B & Conly
b)
Only B
c)
Only C
d)
Only A
e)
None of these

4. Very often we read about Special economic Zones (SEZs) in newspapers. What is the purpose of promoting SEZs in India?

(A) They are established to promote exports.
(B) They are established to attract investments from foreign countries.
(C) They are established to help the poorest of the poor in India as the activities of these zones are reserved only forthe poors and those living below poverty line.
a) Only A    
b)
Only B
c)
Only C
d)
Both A & B only
e)
None of these

5. The ratio of the Cash Reserves that the banks are required to keep with the RBI is known as

a) Liquidity Ratio    
b)
SLR
c)
CRR    
d)
Net Demand & Time Liability
e)
None of these

6. The-Govt ofIndia in order to provide some relief to the exporters announced a relief-package of Rs

a) 1000 cr
b)
2500 cr
c)
4000 cr    
d)
5000 cr
e)
7000 cr

7. The availability of cash and other cash-like marketable instruments that are useful in purchases and investments are commonly known as

a) Cash crunch
b)
Liquidity
c)
Credit
d)
Marketability
e)
None of these

8. The White Tiger is a book written by

a) Amitav Ghosh    
b)
Arundhati Roy
c)
VS Naipaul    
d)
Kiran Desai
e)
Aravind Adiga

9. Besides USA and France, India has a Civil Nuclear Deal with

a) Britain    
b)
Russia
c)
Germany
d)
Canada
e)
Australia

10. Jnanpith Award is given for excellence in the field of

a) Music    
b)
Literature    
c)
Sports
d)
Films    
e)
Social Services

11. As per newspaper reports, India’s trade gap has been showing a negative growth for the last few months. “Trade Gap” means what?

a) Gap between total GDP and total consumption
b)
Gap between total imports and total exports
c)
Gap between available liquidity and expected demand in next five months
d)
Gap between budgeted revenue collection and actual collection of the same
e)
None of these

12. ‘Equity schemes managed strong NAV gains, which, boost their assets’ was a news in some financial newspapers. What is the full form of the term NAVas used in above head lines?

a) Nil Accounting Variation
b)
Net Accounting Venture
c)
Net Asset Value
d)
New Asset Venture
e)
None of these

13. As per reports published in various newspapers, mutual fund companies showed 94 per cent growth in their total profits during 2009-10. This means the profits earned by these companies were 94 per cent

a) in their total investments they made collectively during the year
b)
more than their profits during previous year
c)
of the total capital of the company
d)
less than the total expenditure of the companies
e)
None of these

14. As per the reports published in some major news papers “ADAG companies” made good profits during the year. ADAG companies are popularly known as

a) Companies owned by Tata Group
b)
Aditya Birla Companies
c)
Reliance Companies
d)
Companies owned by Aptech
e)
None of these

15. “Mutual Funds reported exceptional performance in 2009-10″ was the news in major financial news papers recently.  What is a mutual fund?

A. A type of collective investment scheme that pools money from many investors and invests it in stocks, bonds or other money market instruments.
B. It is a subsidiary of a bank or financial company created specially to raise money to be invested in a particular industry, ie housing or insurance etc. The money raised thus cannot be invested anywhere else.
C. When several banks and financial companies come together and create a common pool of money to fund mega infrastructural project like bridges, roads, power plants etc, the common pool is known as Mutual Fund.
a) Only A
b)
Only B
c)
Only C
d)
All A, B & C
e)
None of these

16. We very frequently read about Europe’s sovereign debt crisis these days. Which of the following statements/is/are true about the same?

A. In early 2010 the Euro crisis developed in some countries like Greece, Spain and Portugal.
B. This created a credit default swap between the countries of the European Union ..
C. SAARC countries have offered some assistance to some of the severely affected countries like Portugal, Spain and Greece.
a) Only A
b)
Only B
c)
OnlyA & B
d)
All A, B & C
e)
None of these

17. As per the announcement made by the RBI, some Stock Exchanges in India are allowed to introduce Plain Vanilla Currency Options. The term Plain Vanilla Currency Options is associated with which of the following activities/operations?

a) Dollar-Rupee Exchange Rate
b)
Floating of Commercial Papers
c)
Launch of new mutual funds
d)
Deciding the opening price of a share on a particular” business day
e)
None of these

18. The process of “Artificial Application of Water to the soil usually for assisting in growing crops” is technically known as

a) water harvesting
b)
irrigation
c)
water recharging
d)
percolation
e)
none of these

19. Waste Water generates which of the following gases. which is more powerful and dangerous than C02?

a) Nitrogen    
b)
Sulphur dioxide
c)
Hydrogen
d)
Methane
e)
None ofthese

20. Which of the following days was observed as World Water Day 2010?

a) 20th June
b)
22nd July
c)
22nd March
d)
20th May
e)
None of these

21. “Indira Gandhi Canal”, which is around 450 km long, provides irrigation facility mainly to which of the following states?

a) Punjab
b)
Haryana
c)
Madhya Pradesh
d)
Gujarat
e)
Rajasthan

22. Who amongst the following is the director of the popular Hindi film “OyeLucky ! Lucky Oye”?

a) Mani Ratnam    
b)
David Dhavan
c)
Dibakar Banerjee    
d)
R Balakrishnan
e)
None of these

23. Which of the following is NOT a missile developed by the Defence Research and Development. Organisation (DRDO) ?

a) Shaurya
b)
Pinaka
c)
Brahmos
d)
Agni    
e)
Nag

24. Which ofthe following metals is used for generation of Nuclear Energy by most of the Nuclear Power Plants?

a) Zinc    
b)
Platinum    
c)
Uranium
d)
Nickel    
e)
None of these

25. Indus Water Treaty is a pact on’ sharing of river water between India and

a) Bangladesh    
b)
Pakistan
c)
Nepal
d)
Afghanistan
e)
Myanmar

26. Which of the following is/are considered a Renewable Source of Energy?

A. Wind Energy
B. Solar Energy
C. Nuclear Energy
a) OnlyA  
b)
OnlyB
c)
OnlyC
d)
Only A & B
e)
All A, B’ & C

27. Mrs. Pratibha Patil is the _______the President of India 

a) 10th President of India
b)
11th President of India
c)
12th President of India
d)
1st President of India
e)
15th President of India

28. How many intertwined rings are shown in the Olympic Flag used these days in the games?

a) Five
b)
Six
c)
Seven
d)
Three
e)
None of these

29. India’s ‘Look East’ trade policy is designed to help particularly members of which of the following group of nations?

a) SAARC
b)
ASEAN
c)
WTO
d)
NAT
e)
EU

30. Which of the following countries has signed a 22-Point Agreement with Madhesi People’s Right Forum (MPRF)?

a) China
b)
Nepal
c)
India
d)
Bangladesh
e)
Myanmar

31. ‘Brahmos’ is designed to be used by which of the following?

a) Indian Navy
b)
Indian Army
c)
Indian Air Force
d)
Border Security Force
e)
All of these

32. Which of the following agencies/organisations is setting up India’s first Natural Resource Data Centre in Kolkata?

a) RBI 
b)
SEBI
c)
NABARD
d)
S~C
e)
BARC

33. The Finance Minister ofIndia recently made a mention that Infrastructure Development in India should be done on PPP model only. What is the full form of’PPP’?

a) Purchasing Power Parity
b)
Public Private Partnership
c)
Purchase Produce Provide
d)
People’s Programme & Priority
e)
None of these

34. The Global Non-Violence Day was observed on which of the following days?

a) 15th August
b)
14th November
c)
19th September
d)
2nd October
e)
30th January

35. The period for 11 th Five Year Plan is

a) 2005-10
b)
2006-11
c)
2007-12
d)
2008-13
e)
None of these

36. Who amongst the following has played the main/lead role in the film Chak De India?

a) Abhishek Bachchan
b)
Salman Khan
c)
Aamir Khan
d)
Shah Rukh Khan
e)
None of these

37. ‘Ranji Trophy’ is associated with the game of

a) Hockey    
b)
Football
c)
Badminton
d)
Cricket
e)
Tennis

38. Which ofthe following awards is given for excellence in literary work?

a) Bharat Ratna
b)
Shanti Swamp Bhatnagar Award
c)
DronacharyaAward
d)
Arjuna Award
e)
Pulitzer Prize

39. Roger Federer, who won the US Open 2007 Tennis Championship, is a citizen of

a) Belgium
b)
France
c)
Russia
d)
USA    
e)
Switzerland

40. Which of the following awards is NOT a ‘Gallantry I Award’?

a) Mahavir Chakra    
b)
Vir Chakra
c)
Vishista Sewa Medal
d)
Ashok Chakra
e)
Saraswati Saminan

41. As per the to Commerce Ministry data released on 2 January 2012, India’s exports recorded their slowest pace of growth in two years in November 2011. What was the per centage of growth recorded?

a) 4.2%
b)
3.8%
c)
2.2%
d)
0.94%

42. The capital market regulator SEBI on 3 January 2012 allowed auctioning of securities through stock exchanges and introduced a new method for institutional placement of stocks. Which of the following facts related to the above statement is/are not true?

1. Under the institutional placement programme (IPP), shares can be sold only to qualified institutional buyers.
2. There shall be at least 25 allottees in every IPP issuance. No single investor shall receive allotment for more than 25% of the offer size
3. The IPP method can be used to increase public holding by 10% and could be offered to only qualified institutional buyers with 25% being reserved for mutual funds and insurance companies
4. Under the IPP, companies will have to announce the ratio of buy-back, as is done in the case of rights issues and fix a record date for determination of entitlements as per shareholding on record date
a) Only 1
b)
Only 3
c)
Only 2
d)
Only 4

43. What is the Finace Ministry’s decision on the rates applicable on small savings instruments schemes that would be announced on April 1 each year?

a) rate would remain valid till the maturity of the scheme
b)
rate would change in the first qurter of that respective year
c)
rates would change depending on different maturity period
d)
rates would remainvalid for six months post the maturity

44. Scientists discovered unknown species off the coast of Antarctica. Consider the following statements: i) The temperature in this region rises to 380 degree Celsius. Ii) There is plenty of light in this region.

Which of the above statements is/ are correct?
a) Only i
b)
Only ii
c)
Both i and ii
d)
Neither i nor ii

45. Scientists produced artificial human semen to help infertile men.  Consider the following statements:

i) The scientists grew the sperm by enveloping the germ cells in a special compound called agar jelly.
ii) The artificial human semen could help infertile men father their own children.
Choose the right option:
a) Both i and ii are correct.
b)
Only i is correct.
c)
Only ii is correct.
d)
Neither i nor ii is correct.

46. Health Authorities in Australia recently detected Deadly Disease, Murray Valley Encephalitis.  The disease is caused by the__.

a) Flies
b)
Mosquitoes
c)
Birds
d)
Dogs

47. Which PSU announced on 2 January 2012 that its board approved in a meeting held on 30 December 2011 the switching over to internationally-accepted Gross Caloric Value-based pricing mechanism?

a) BHEL
b)
ISPAT
c)
CIL
d)
IOC

48. Mukesh Ambani’s Reliance Industries Ltd (RIL) entered the media and entertainment sector by making a major investment in one of India’s largest broadcast companies. Name the broadcast company.

a) Network18 Group
b)
Adlabs Films
c)
Balaji Telefilms
d)
Bag Films

49.  India approved the acquisition of French advanced missile systems to arm the Mirage-2000 fighter jets. Consider the following statements:

i)  The cabinet committee on Security cleared the contract for the fire and forget MICA with French company MBDA.
ii) MICA are interception and aerial combat missiles.
Choose the right option:
a) Both i and ii are correct.
b)
Only i is correct.
c)
Only ii is correct.
d)
Neither i nor ii is correct.

50.  The Union government approved Katra-Quazigund Railway line project. The project is located in__.

a) Jammu and Kashmir
b)
Bihar
c)
Punjab
d)
Haryana

51.

(1) Theatre director, screenplay writer and actor Satyadev Dubey, credited with introducing existential and absurd theatre, passed away on 25 December 2011. Which facts about the concerned person is/are not true?
(2) he got attracted to the post-1947 theatre and joined Theatre Unit, the theatre group-cum-school founded by Ebrahim Alkazi
(3) Dubey came into prominence with Dharamvir Bharati’s radio-play Andha Yug that brought to the fore the pervasive criminal and homicidal tendencies during the times of war.
(4) He penned screenplays/dialogue of some acclaimed films in the 1970s, including Shyam Benegal’s Nishant, Ankur, Kalyug and Bhumika
(5) He won the Filmfare Award for Best Dialogue in 1980 for the film Ankur
a) Only 1
b)
Only 4
c)
2 & 3
d)
Only 2

52. Lok Sabha on 27 December 2011 passed the Lokpal and Lokayukta bill, 2011. Consider the following statements:

i) The setting up of Lokayuktas by the states would not be mandatory.
ii) The constitutional amendment bill fell through.
Choose the right option:
a) Both i and ii are correct.
b)
Only i is correct.
c)
Only ii is correct.
d)
Neither i nor ii is correct.

53.

(1) Reserve Bank of India deregulated non-resident external (NRE) deposits on 16 December 2011 allowing banks  to offer higher interest rates to dollar-denominated accounts. Which of the following facts related to the above statement is/are not true?
(2) Reserve Bank freed the rates on non-resident external accounts, offering interest as high as 9.6% per annum
(3) Following RBI’s deregulation five Indian banks, including HDFC Bank and Yes Bank on 23 December 2011 raised their interest rates on such deposits in order to lure foreign money
(4) Private lender Yes Bank increased the interest rates on fixed deposits held by non-resident Indians (NRIs) to 8.4 per cent from 3.82 per cent
(5) The new rates are effective from 24 December for fresh deposits as well as those being renewed on maturity.
a) 1 & 2
b)
Only4
c)
Only 3
d)
1 & 4

54. According to the RBI data, India’s foreign exchange reserves fell by what amount to $302.1 billion during the week ended 16 December  2011 on account of a fall in foreign currency assets?

a) $4.67 billion
b)
$3.33 billion
c)
$5 billion
d)
$5.75 billion

55. Telecom Commission, the decision-making body of the Department of Telecommunications recommended a uniform licence fee of what per cent of adjusted gross revenues (AGR) as against the prevalent rate of 6-8 per cent?

a) 10%
b)
8%
c)
5.2%
d)
9.3%

56.  NASA’s Kepler mission discovered the first Earth-size planets orbiting a sun-like star outside our solar system. These planets are called ___ and____.

a) Kepler-20e; Kepler-20f
b)
Kepler-20a; Kepler-20b
c)
Kepler-20c; Kepler-20d
d)
Kepler-20m; Kepler-20n

57. Scientists at the Salk Institute for Biological Studies report discovered a missing link between the body’s biological clock and sugar metabolism system. Consider the following statements
i)
Sugar Metabolism is a process by which the body uses sugar for energy.

ii) If the human body produces too little insulin, the amount of sugar in the blood increases abnormally, a condition known as hyperglycemia.  Choose the right option:
a) Both i and ii are correct.
b)
Neither i nor ii is correct.
c)
Only i is correct.
d)
Only ii is correct.

58. Name the gene found by the neuroscientists, which could help in creating and altering memory.

a) Mpas 4
b)
Npas 4
c)
Npas 3
d)
Mpas 2

59. Name the Rashtriya Lok Dal (RLD) leader who was inducted into the Union Cabinet as civil aviation minister on 18 December 2011.

a) Ajit Singh
b)
Jayant Chaudhary
c)
Devendra Nagpal
d)
Sanjay Singh Chauhan

60. Popularly known as Adam Gondvi, this Hindi poet who  wrote revolutionary poetry focusing on the pathetic state of dalits and the poor breathed his last in Lucknow on 18 December 2011. Name the poet.

a) Bharat Bhusan
b)
Ram Nath Singh
c)
Uday Prakash
d)
Shail Chaturvedi
e)
Naresh Mehta

61. The Union cabinet of India on 22 December 2011 approved __ percent share for minorities within the 27% OBC quota in jobs and university seats.

a) 4.5
b)
5.6
c)
3.4
d)
5

62. The Manipur Legislative Assembly passed the Manipur Lokayukta Bill, 2011. Manipur will be the __state in North-Eastern India to have alegislation of Lokayukta.

a) Second
b)
Third
c)
First
d)
Fourth

63.

(1) Former Czech president Vaclav Havel who had been suffering from chronic respiratory problems died on 18 December 2011. Which of the following facts mentioned about him is/are not true?
(2) He was the tenth and last president of Czechoslovakia (1989–92) and the second President of the Czech Republic (1993–2003)
(3) He played a seminal role in the Velvet Revolution that ended four decades of repression by a regime which Havel ridiculed as Absurdistan.
(4) He co-authored the human rights manifesto Charter 77, which drew wide attention in the West.
(5) As president, he oversaw the country’s transition to democracy and a free-market economy and also the peaceful 1993 breakup into the Czech Republic and Slovakia.
a) Only 3
b)
Only 1
c)
1 & 4
d)
Only 4

64. The enigmatic leader of North Korea Kim who led his nation for 17 years through a devastating famine while frustrating the United States and other global powers with approach to talks on giving up nuclear arms in return for food and other assistanceon died on 17 December 2011 after he suffered a massive heart attack. Name the leader

a) Kim Jong-il
b)
Kim Il-sung
c)
Kim Jong-un
d)
Kim Jong-chul

65. Which Controversial film based on the 116-year-old Mullaperiyar dam and directed by Sohan Roy made it to a shortlist for the Oscars under the Best Picture category?

a) Rio and The Muppets
b)
Undefeated
c)
Project Nim
d)
Dam 999

66. India and Australia on 16 December 2011 signed an agreement to amend DTAA (Double Taxation Avoidance Agreement).  DTAA was signed between India and Australia in__.

a) 1990
b)
1991
c)
1992
d)
1995

67. The Indian women’s hockey team defeated Ireland 4-1 win to clinch the bronze medal in the four-nation tournament held in Parana, Argentina in December 2011. Which team won the gold medal?

a) South Africa
b)
USA
c)
Argentina
d)
Pakistan

68. Who defeated ace badminton player and World No. 4 Saina Nehwal of India in the women’s singles final of the $500000 BWF World Super Series badminton championship in China on 18 December 2011?

a) Zhang Ning
b)
Xie Xingfang
c)
Xu Huaiwen
d)
Wang Yihan

69. Which India striker was on 20 December 2011 voted Player of the Year by the All India Football Federation?

a) Sunil Chhetri
b)
Savio Medeira
c)
Kyrshan Lyngshing
d)
Babu Mani

70. Diesel consumption in Delhi declined by a startling 26% in 2010-11 compared to 2009-10. Delhi was however found to have used 2.24% more petrol in the same period. As per the latest Delhi government figures, the consumption of diesel in the city stood at what amount in 2010-2011?

a) 10.98 lakh metric tonnes
b)
7.5 lakh metric tonnes
c)
8.11 lakh metric tonnes
d)
6 lakh metric tonnes

71. Fears of continuing economic slowdown, lack of decision making at the centre, rising fiscal deficit combined with not-so-impressive revenue collections upset Dalal Street investors on 20 December 2011. Which of the foolowing facts  related to the above statement is/are not true?

1. Fears of continuing economic slowdown, lack of decision making at the centre, rising fiscal deficit combined with not-so-impressive revenue collections led to a 204 points loss in sensex that ended at 15175
2. The slide on 20 December 2011 was triggered by FII selling which recorded a net outflow of Rs 600 crore, taking the month’s total net outflow to about Rs 1700 crore.
3. The combined effect of the market’s slide and the depreciation of the rupee forced India to exit from the select group of countries with a $1 trillion market capitalization
4. There was not even a single ADR issue in 2011. However, companies raised about $220 million through GDRs (Global Depository Receipts) during 2011
a) Only 1
b)
3 & 4
c)
Only 3
d)
Only 2

72. Credit rating agency Moody’s on 21 December 2011 upgraded the credit rating of the Indian government’s bonds from the speculative to investment grade. Which of the following facts related to the above statement is/are true?

1. According to a release issued by the Finance Ministry, Moody’s unified India’s local and foreign currency bond ratings at Baa3
2. Moody’s Investor Service upgraded its local currency rating for Indian government bonds to Baa3 which is speculative grade as compared to the earlier Ba1 which is junk or investment grade.
3. India’s foreign currency bond ceiling is unchanged at Baa2, and the foreign currency bank deposit ceiling is Baa3. The local currency bond and bank deposit ceilings are unified at A1.
4. The government’s local currency short-term rating has been changed to P-3 from NP, indicating the government’s ability to repay short-term debts.
a) Only 2
b)
Only 1
c)
1 & 3
d)
Only 4

73. According to official data released here on 22 December 2011, food inflation dropped sharply to an almost four-year low of what per cent during the week ended 10 December indicating an overall easing of prices?

a) 1.5%
b)
1.32%
c)
1.81 %
d)
2.32%

74. Which of India’s leading commodity bourses on 20 December 2011 became the world’s fifth-largest commodity futures exchange?

a) National Multi Commodity Exchange of India
b)
Bharat Diamond Bourse
c)
Multi Commodity Exchange
d)
Bombay Stock Exchange

75. Ravi Ruia decided on 21 December 2011 to step down as chairman of which of the following London-listed after a trial court admitted a criminal chargesheet filed by the investigating agency, CBI?

a) Essar Energy
b)
Essar Shipping
c)
Essar Oil
d)
Eaasr Technologies

76. Which company won the award for Alternative Thinking and Driving Positive Change in the Fleet Owner category at the Mahindra Navistar Transport Excellence Awards 2011 at Hotel Ashok here on 20 December 2011?

a) Tata Motors
b)
Hero Group
c)
Edu Comp
d)
Agarwal Packers & Movers

77. Which PSU lender decided to aggressively market its gold loan scheme for farmers to prevent defaults after the agriculture sector witnessed a sharp spike in bad debt in the past one year?

a) Union Bank
b)
United Bank of India
c)
Industrial Development Bank of India
d)
State Bank of India

78. Who did the Central Government appoint as Chairman and Managing Director (CMD) of Andhra Bank?

a) B. A. Prabhakar
b)
O. P. Bhatt
c)
Pratip Chaudhuri
d)
S. Vishvanathan

79. The directorate general of hydrocarbons (DGH), the technical arm of the oil ministry approved which company’s proposal to commence production from Bhagyam, the second-largest oil field in the Rajasthan block?

a) Essar Oil
b)
ONGC
c)
Cairn India
d)
Indian Oil

80. Scientists discovered that the protein__ is responsible for regulating fatty acid oxidation in the liver and is critical for metabolism.

a) CPT1
b)
CTP1
c)
CTT1
d)
CPT2

81. British Scientists recently developed a technology to produce pocket TV. Consider the following statements:

i) Scientists developed a new form of light-emitting crystals, known as quantum dots.
ii) These tiny crystals are 100000 times smaller than the width of human hair.
Choose the right option:
a) Both i and ii are correct.
b)
Only i is correct.
c)
Only ii is correct.
d)
Neither i nor ii is correct.

82. Scientists developed a hydrogel that regenerate healthy and scar-free tissue on skin damaged by severe burns.  Consider the following statements:

i) The hydrogel helps in formatting of new blood vessels and skin including hair follicles.
ii) The injured soldiers, fire victims and people with third degree burns can avail of the gel.
Choose the right option:
a) Both i and ii are correct.
b)
Only i is correct.
c)
Only ii is correct.
d)
Neither i nor ii is correct.

83. The Sangita Kalanidhi M.S. Subbulakshmi Award was presented to whom at the inauguration of the 85th annual conference of the Music Academy in Chennai on 15 December 2011?

a) S.R. Nathan
b)
Trichy Sankaran
c)
Subramania Pillai
d)
Subramaniyam Iyer

84. The 40th anniversary of vijay diwas was celebrated on which day marking the finest hour of the Indian armed forces when they defeated Pakistan, leading to the creation of Bangladesh in 1971?
a) 12 December
b) 15 December
c) 16 December
d) 18 December

85. The Himachal Pradesh Cabinet on 15 December 2011 approved amendment to the state industrial policy. Consider the following statements:

i) The amended industrial policy seeks to promote environmentally sustainable development in the state and encourage cleaner production and adoption.
ii) Under this policy, disincentive industries will be put on negative list.
Choose the right option:
a) Both i and ii are correct.
b)
Only i is correct.
c)
Only ii is correct.
d)
Neither i nor ii is correct.

86. The Supreme Court of India directed Tamil Nadu to ensure that the water level in the Mullaperiyar dam does not exceed __but declined to entertain Kerala’s plea for reducing the level to__.

a) 136 feet; 120 feet
b)
120 feet; 136 feet
c)
140 feet; 112 feet
d)
150 feet; 140 feet

87. A parliamentary committee on 13 December 2011 rejected the proposal to allow what percentage foreign direct investment in the insurance sector?

a) 51%
b)
49%
c)
43%
d)
29%

88. According to data from research body All India Organisation of Chemists and Druggists (AIOCD), Indian drugmakers posted a certain per cent month-on-month growth in sales of November 2011 which was the highest in the past 14 months. What was the per cent of sales growth projected for the month?

a) 23%
b)
31%
c)
21%
d)
43%

89. The government waived loan of handloom weavers in India to help revive the sector under the scheme of Revival, Reform and Restructuring Package for Handloom Sector. What amount of loan was waived?

a) Rs 548.35 crore
b)
Rs 420.66 crore
c)
Rs 506.64 crore
d)
Rs 3521 crore

90. A committee on mutual funds, constituted by SEBI in december 2011 recommended to the regulator’s board to break down the bifurcation within the fee structure known as expense ratio. Which of the following facts are not true with regard to the above statement?

1. Currently  mutual funds are allowed to charge up to 2.25% as expense ratio. fund houses are allowed to accept only 1.25% as asset management charges
2. Funds with large corpuses currently charge 1.55% as expenses charges
3. SEBI was suggested to keep overall scheme expenses unchanged at 2.25% for schemes with assets under management not exceeding Rs 400 crore
4. Expense ratio is more than important in debt schemes where the rate of return is not hig.
a) 1 & 2
b)
3 & 4
c)
1 & 3
d)
Only 2
e)
None of the above

91. Which player became the first player to win the Orders of Merit on both sides of the Atlantic on 11 December 2011 when he shot a closing 66 to finish third in the Dubai World Championship?

a) Luke Donald
b)
Alvaro Quiros
c)
Rory McIlroy
d)
Paul Lawrie

92. Which country defeated Spain 1-0 to win for the 4th time hockey’s Champions Trophy title on 11 December 2011?

a) Pakistan
b)
New Zealand
c)
Australia
d)
Greece

93. Name the woman squash player who on 10 December 2011 annexed the elusive women’s title while in the Senior National Squash Championship in Chennai.

a) Sarah Fitz-Gerald
b)
Dipika Pallikal
c)
Anaka Alankamony
d)
Sushma Pillai

94.

(1) The Centre for Development of Telematics (C-DoT) on 5 December 2011 transferred indigenously-developed Gigabit Passive Optical Network (GPON) technology to seven telecom equipment manufacturers. Which of the following facts about the technology is not true?
(2) The GPON technology is a pivotal component required for broadband connectivity over optical fibre.
(3) C-DOT indigenously designed and developed GPON technology, which can be used to provide triple play (voice, video and data) through fibre-based networks
(4) The GPON technology was tested, validated, field-evaluated and made operational in MTNL’s/VSNL’s network in Ajmer (Rajasthan)
(5) The technology will help fulfil requirements of major national programmes like the National Optical Fibre Network and the State Wide Area Network.
a) Only 1
b)
Only 3
c)
1 & 4
d)
Only 4

95. Bank lending to the priority sector grew at what percentagein October 2011 on an annual basis due to lower offtake by agriculture and MSME segments as well as decline in micro credit?

a) 10%
b)
12%
c)
13.7%
d)
8.3%

96. With the inauguration of the first state-of-the-art ATDC-SMART (Skill for Manufacturing Apparels through Research and Training) in Egmore, Chennai, the Ministry of Textiles launched which of the following schemes?

a) National Technology Mission for Technical Textiles
b)
Integrated Skill Development Scheme
c)
Technology Upgradation Fund Scheme (TUFS) For Textile
d)
Rural Textiles Technology Development Skill

97. Which bank signed a memorandum of understanding with Life Insurance Corporation of India (LIC) to use the National Electronic Funds Transfer (NEFT) facility  to facilitate electronic funds transfer of policy payments to policyholders?

a) IDBI
b)
Corp Bank
c)
Indian Overseas Bank
d)
Dhanlaxmi Bank

98. World Aids Day is observed anually on 1 December 2011. What was the theme of World AIDS Day 2011?

a) Getting to Zero
b)
Stigma and Discrimination
c)
Women & AIDS
d)
Force For Change: World AIDS Campaign With Young People

99.

(1) An icon of Indian cinema and evergreen star Dev Anand died at the age of 88 in London on 3 December 2011 (4 December according to IST) after suffering a massive cardiac arrest. Which of the following facts about him is/are not true?
(2) Dev Anand started his career with Prabhat Films’ Hum Ek Hain (1946) soon after he joined IPTA
(3) Anand started producing films after the success of Ziddi. He launched his own company Navketan in 1949 which, by 2011, had produced 31 films
(4) His first colour film, Johny Mera Naam with Waheeda Rehman was based on the novel of the same name by R. K. Narayan
(5) The Government of India honoured him with the Padma Bhushan in 2001 and the Dadasaheb Phalke Award in 2002
a) 1 & 4
b)
Only 3
c)
2 & 4
d)
1 & 4

100. The Golden Peacock Award for the Best Film was given to which of the following films at the 42nd International Film Festival of India which came to an end at the Kala Academy in Panaji, Goa on 3 December 2011?

a) Russian film Elena
b)
an Israeli film Restoration
c)
Columbian Film Porfirio
d)
Malayalam film Adaminte Makan Abu
Answer
1. (c) 26. (d) 51. (b) 76. (d)
2. (e) 27. (c) 52. (a) 77. (d)
3. (d) 28. (a) 53. (c) 78. (a)
4. (d) 29. (b) 54. (a) 79. (c)
5. (c) 30. (b) 55. (b) 80. (a)
6. (d) 31. (b) 56. (a) 81. (a)
7. (b) 32. (c) 57. (a) 82. (a)
8. (e) 33. (b) 58. (b) 83. (b)
9. (b) 34. (d) 59. (a) 84. (c)
10. (b) 35. (c) 60. (b) 85. (a)
11. (b) 36. (d) 61. (a) 86. (a)
12. (c) 37. (d) 62. (b) 87. (b)
13. (b) 38. (e) 63. (b) 88. (c)
14. (c) 39. (e) 64. (a) 89. (d)
15. (a) 40. (e) 65. (d) 90. (d)
16. (a) 41. (b) 66. (b) 91. (a)
17. (a) 42. (c) 67. (c) 92. (c)
18. (b) 43. (a) 68. (d) 93. (b)
19. (d) 44. (a) 69. (a) 94. (b)
20. (c) 45. (a) 70. (c) 95. (a)
21. (e) 46. (a) 71. (d) 96. (b)
22. (c) 47. (c) 72. (a) 97. (d)
23. (a) 48. (a) 73. (c) 98. (a)
24. (c) 49. (a) 74. (d) 99. (b)
25. (b) 50. (a) 75. (a) 100. (c)

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List of Public Sector Banks,Private Banks and Foreign Banks in India

Posted on 30 August 2011 by admin

Public Sector Banks

  • Allahabad Bank

  • Andhra Bank

  • Bank of Baroda

  • Bank of India

  • Bank of Maharashtra

  • Canara Bank

  • Central Bank of India

  • Corporation Bank

  • Dena Bank

  • Indian Bank

  • Indian Overseas Bank

  • Oriental Bank of Commerce

  • Punjab & Sind Bank

  • Punjab National Bank

  • Syndicate Bank

  • UCO Bank

  • Union Bank of India

  • United Bank of India

  • Vijaya Bank

Private Banks in India

  • Bank of Punjab

  • Bank of Rajasthan

  • Catholic Syrian Bank

  • Centurion Bank

  • City Union Bank

  • Dhanalakshmi Bank

  • Development Credit Bank

  • Federal Bank

  • HDFC Bank

  • ICICI Bank

  • IDBI Bank

  • IndusInd Bank

  • ING Vysya Bank

  • Jammu & Kashmir Bank

  • Karnataka Bank

  • Karur Vysya Bank

  • Laxmi Vilas Bank

  • South Indian Bank

  • United Western Bank

  • UTI Bank

Foreign Banks in India

  • ABN-AMRO Bank

  • Abu Dhabi Commercial Bank

  • Bank of Ceylon

  • BNP Paribas Bank

  • Citi Bank

  • China Trust Commercial Bank

  • Deutsche Bank

  • HSBC

  • JPMorgan Chase Bank

  • Standard Chartered Bank

  • Scotia Bank

  • Taib Bank

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Upcoming Bank Exams 2011

Posted on 12 May 2011 by admin

Upcoming Bank Exams

Bank Exams Bank Jobs / Positions Dates To Remember
Remittance of  fee Apply On-line Application submission written Test
Canara Bank Specialist Officers:150
20.04.2011 to 13.05.2011 20.05.2011
Aryavart Gramin Bank Office Assts:67
Officers:51

13.04.2011 to 12.05.2011 Office Assts:03.07.2011
Officers:10.07.2011
SKG Bank Office Assts:40
Officers:15

13.04.2011 to 12.05.2011 Office Assts:03.07.2011
Officers:10.07.2011
Lakshmi Vilas Bank Clerks
19.04.2011 to 10.05.2011 19.06.2011
Jaipur Thar Gramin Bank Office Assts:67
Officers:51

19.04.2011 to 10.05.2011 Office Assts:17.07.2011
Officers:24.07.2011
Punjab National Bank Clerks: 6428
11.04.2011 to 03.05.2011 19.06.2011
MGB Gramin Bank Office Asst:52
Officers:146

13.04.2011 to 02.05.2011 09.05.2011 Office Asst:10.07.2011
Officers:03.07.2011
Shreyas Gramin Bank Officers:70
Clerks:108

05.04.2011 to 28.04.2011 Officers:19.06.2011
Clerks:26.06.2011
UCO Bank IT Officers-43
30.04.2011 to 15.05.2011 25.05.2011
Punjab Gramin Bank Office Asst-60
Officers-37

16.03.2011 to 05.04.2011 Office Asst:26.06.2011
Officers:19.06.2011

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New chief wants SBI to be retail banking leader

Posted on 10 April 2011 by admin

State Bank of India’s new chairman Pratip Chaudhuri on Friday set his agenda for the largest commercial bank in the country, promising to consolidate the trailblazing gains made during the five-year tenure of former chairman OP Bhatt. Chaudhuri vowed to bring down bad loans and do a balancing act on the teaser home loan issue.

“We will consolidate the gains made during the tenure of Mr Bhatt. Now that we have been catapulted to the leadership position, we would like to consolidate the operations. Deposit taking would remain as important. Technology would be high priority and international operations will continue expansion. We would also bring down non-performing assets (NPAs) to appropriate levels,” Chaudhuri said after chairing the first board meeting of the bank.

SBI’s aim will be to position itself as a retail banking leader. “We need to take corrective measures to boost topline growth,” he said. Bhatt had taken SBI to greater heights through his aggressive moves on the retail front, especially home loans.

Source: IE

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General Intelligence-Test Your General Intelligence IQ.

Posted on 28 March 2011 by admin

General intelligence is a person’s ability to think, reason, solve problems, and interact appropriately in situations. Answer the following questions and Test Your General Intelligence IQ Now.

1. A factor that ________ the understanding of the genetic versus environmental impacts on IQ is that twins who are separated tend to be placed in ________ households.

A. hinders, similar
B. confuses, dysfunctional
C. furthers, similar
D. furthers, dissimilar

2. If a test is standardized this means that

A. a person’s score can be compared with that of a pre tested group
B. the test is reliable
C. the test is valid
D. the average will always be 100

3. Criticisms of Gardner’s theory of multiple intelligences ________.

A. pertain to testing and measuring only
B. pertain to testing and measuring, whether these intelligences are skills, and cultural biases
C. pertain to testing and measuring and whether these intelligences are skills only
D. pertain to whether these intelligences are skills only

4. Those who define intelligence as academic aptitude are most likely to criticize

A. Gardner’s concept of multiple intelligences
B. Sternberg’s and Wagner’s concept of  practical intelligence
C. the standardization of college aptitude tests
D. the predictive reliability of modern intelligence tests

5. Another name for the “self-fulfilling prophesy” as an abuse of IQ test data is:

A. racial/cultural bias
B. gender bias
C. age bias
D. Pygmalion effect

6. The formula that was originally used to calculate the IQ was

A. (chronological age/mental age. X 100 = IQ
B. (mental age/chronological age. X 100 = IQ
C.  mental age X (chronological age/100) = IQ
D. (chronological age X mental age ) X 100 = IQ

7. Studies show that there is a positive correlation between intelligence and

A. digestion
B. neural processing speed
C. muscle mass
D. telepathy

8. Zajonc has proposed a model to explain the impact of family size and birth order on children’s IQs. According to his model, early-born children have higher IQs because they

A. get less attention from their parents
B. are more likely to have a varied environment
C. experience a higher than average intellectual environment
D. learn language earlier

9. The Cerebral Circumference Index is a measure of intelligence based on the circumference of the head just above the eyebrows. It is most reasonable to assume that the test is

A. reliable but not valid.
B. valid but not reliable.
C. both valid and reliable.
D. neither valid nor reliable.

10. Approximately what percentage of individuals will score between  85 and 115 on the WAIS?

A. 94%
B. 74%
C. 68%
D. 10%

Answer Key: 1.A  2.A   3.C   4.A   5.D   6.B   7.B   8.C   9.A   10. C

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Questions and Answers from Bank Exams-Marketing Knowledge Series

Posted on 26 March 2011 by admin

1.Regulations that arise to ensure that firms take responsibility for the social costs of their products or production processes stem from which reason for government legislation of business?
(a) To protect companies from each other
(b) To protect consumers from unfair business practices
(c) To protect the interests of society
(d) To protect businesses from unfair consumer demands

Answer : C

2.A “three-day cooling off period” in which buyers can cancel a contract after re-thinking it is to protect the consumer fromAnswer :
(a) creative selling (b) high pressure selling (c) detail selling (d) hard core selling

Answer : B

3.One of the most promising developments in multivariable segmentation is called _____ where a host of demographic and socioeconomic factors are used
(a) terragraphic segmentation (b) fermagraphic segmentation
(c) geothermy segmentation (d) geodemographic segmentation

Answer : D

4.One of the most common problems with using internal database information is thatAnswer :
(a) since it was probably collected for some other purpose, it may be incomplete or wrong.
(b) it is usually expensive to retrieve.
(c) top executives are usually unwilling to relinquish data, therefore, the data has limits.
(d) the data is almost always unsecured and therefore, suspect as to reliability

Answer : A

5.The last stage in the selling process is the _____ stage.
(a) approach (b) handling objections (c) closing (d) follow-up

Answer : D

6.When Coca-Cola and Nestle formed a joint venture to market a ready-to-drink coffee and tea worldwide, the type of marketing system that was formed would best be described as being a(n)Answer :
(a) vertical marketing system (b) parallel marketing system
(c) diversified marketing system (d) horizontal marketing system

Answer : D

7.The major advantage of survey research is itsAnswer :
(a) simplicity (b) structure (c) organization (d) flexibility

Answer : D

8.The _____ holds that consumers will favor products that are available and highly affordable (therefore, work on improving production and distribution efficiency)
(a) product concept (b) production concept
(c) production cost expansion concept (d) marketing concept

Answer : B

9.A ____ is any activity or benefit offered for sale that is essentially intangible and does not result in the ownership of anything
(a) demand (b) basic staple (c) product (d) service

Answer : D

10._____ is a person’s distinguishing psychological characteristics that lead to relatively consistent and lasting responses to his or her own environment
(a) Psychographics (b) Personality (c) Demographics (d) Lifestyle

Answer : B

11.The place in the business buying behavior model where interpersonal and individual influence might interact is called the
(a) environment (b) response (c) stimuli (d) buying center

Answer : D

12.The course of a product’s sales and profits over its lifetime is called
(a) the sales chart (b) the dynamic growth curve
(c) the adoption cycle (d) the product life cycle

Answer : D

13.When companies make marketing decisions by considering consumer’s wants and the long-run interests of the company, consumer, and the general population, they are practicing which of the following principles?
(a) Innovative marketing (b) Consumer-oriented marketing
(c) Value marketing (d) Societal marketing

Answer : D

14.All of the following are thought to be sources if new product ideas EXCEPT.
(a) internal sources (b) customers (c) competitors (d) the local library

Answer : D

15.If Honda uses its company name to cover such different products as its automobiles, lawn mowers, and motorcycles, it is practicing which of the following strategies?
(a) new brand strategy (b) line extension strategy
(c) multibrand strategy (d) brand extension strategy

Answer : D

16.If a company (considering its options on the product/market expansion grid) chooses to move into different unrelated fields (from what it has ever done before) with new products as a means to stimulate growth, the company would be following which of the following general strategies?
(a) market penetration (b) market development
(c) product development (d) diversification

Answer : D

17.When a marketing research organization chooses a segment of the population that represents the population as a whole, they have chosen a _____
(a) group (b) bi-variant population (c) sample (d) market target

Answer : C

18.Joining with foreign companies to produce or market products and services is called
(a) direct exporting (b) indirect exporting (c) licensing (d) joint venturing

Answer : D

19.If advertising constantly sends out messages about materialism, sex, power, and status, which of the following categories of social criticism most closely matches this problem?
(a) Too much advertising (b) Too few social goods
(c) Cultural pollution (d) Too much political power

Answer : C

20.A(n) ____ is a name, term, sign, symbol, or design, or a combination of these that identifies the marker or seller of a product or service.
(a) product feature (b) sponsorship (c) brand (d) logo

Answer : C

21.If an advertiser wants flexibility, timeliness, good local market coverage, broad acceptability and high believability, the advertiser will probably choose which of the following mass media types?
(a) Newspapers (b) Television (c) Direct Mail (d) Radio

Answer : A

22.When producers, wholesalers, and retailers as a unified system, they comprise a
(a) conventional marketing system (b) power-based marketing system (c) horizontal marketing system (d) vertical marketing system

Answer : D

23.The type of trade-promotion discount in which manufacturers agree to reduce the price to the retailer in exchange for the retailer’s agreement to feature the manufacture’s products in some way is called
(a) discount (b) allowance (c) premium (d) rebate

Answer : B

24.The study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics is calledAnswer :
(a) Geothermy (b) Demography (c) Ethnography (d) Hemos-popography

Answer : B

25.Today, advertising captures about ___ percent of total promotion spending
(a) 15 (b) 23 (c) 29 (d) 33

Answer : B

26.The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives is calledAnswer :
(a) Marketing strategy (b) Marketing control
(c) Marketing analysis (d) Marketing implementation

Answer : D

27.The goal of the marketing logistics system should be to provideAnswer :
(a) a targeted level of promotional support.
(b) a targeted level of customer service at the least cost.
(c) a targeted level of transportation expense ratio.
(d) a targeted level of field support.

Answer : B

28.The practice of going after a large share of a smaller market or subsets of a few markets is calledAnswer :
(a) undifferentiated marketing (b) differentiated marketing
(c) concentrated marketing (d) turbo marketing

Answer : C

29.The shrinking of distances due to technological advance such as computer and fax connections by telephone, are one characteristic of what new challenge to marketing?
(a) Rapid globalization
(b) The changing world economy
(c) The call for more socially responsible marketing
(d) The micro-chip revolution

Answer : A

30.If Mark Mars pays Hershey Foods Corporation for the right to use their name on his line of T-shirts, then Mr. Mars is using which type of branding?
(a) Licensed brand (b) Manufacturer’s brand
(c) Private brand (d) Co-brand

Answer : A

31.If your company were to make light bulbs to be used in photocopies, you would most likely be selling to a ______ market.
(a) reseller (b) business (c) government (d) service

Answer : B

32._____ has the advantage of being high in selectivity; low cost, immediacy, and interactive capabilities
(a) Direct Mail (b) Outdoor (c) Online (d) Radio

Answer : C

33.If your company were to make a product such as a suit of clothes and sold that product to a retailer, your company would have sold to the _______market.
(a) reseller (b) business (c) government (d) service

Answer : A

34.In 1985, the Coca-Cola Company made a classic marketing blunder with its deletion of its popular Coca-Cola product and introduction of what it called New Coke. Analysts now believe that most of the company’s problems resulted from poor marketing research. As the public demanded their “old Coke” back, the company relented and reintroduced Coca-Cola Classic (which has regained and surpassed  its former position) while New Coke owns only 0.1 percent of the market. Which of the following marketing research mistakes did coca-Cola make?
(a) They did not investigate pricing correctly and priced the product too high.
(b) They defined not investigate dealer reaction and had inadequate distribution.
(c) They defined their marketing research problem too narrowly
(d) They failed to account for the Pepsi challenge taste test in their marketing efforts

Answer : C

35.Marketers are sometimes accused of deceptive practices that lead consumers to believe they will get get more value than they actually do. ____ includes practices such as falsely advertising “factory” or “wholesale” prices or a large price reduction from a phony high retail price.
(a) Deceptive promotion (b) Deceptive packaging
(c) Deceptive pricing (d) Deceptive cost structure

Answer : C

36.The advantages of audience selectivity, no ad competition and personalization apply to which type of media?
(a) Newspapers (b) Television (c) Direct Mail (d) Radio

Answer : C

37.The first modern environmental movement in the United States began in theAnswer :
(a) 1940s (b) 1950s (c) 1960s and 1970s (d) mid 1980s

Answer : C

38.Costs that do not vary with production or sales levels are calledAnswer :
(a) fixed costs (b) variable costs
(c) standard costs (d) independent costs

Answer : A

39.Each salesperson is assigned to an exclusive area in which to sell the company’s full line of products or services in which type of sales force structure?
(a) Territorial sales force (b) Product sales force
(c) Customer sales force (d) Hybrid sales force

Answer : A

40.Techonological advances, shifts in consumer tastes, and increased competition, all of which reduce demand for a product are typical of which stage in the PLC?
(a) decline stage (b) introduction stage
(c) growth stage (d) maturity stage

Answer : A

41.Setting the promotion budget so as to match the budgets of the competition is characteristic of which of the following budget methods?
(a) Affordable method (b) Percentage-of-Sales method
(c) Competitive-and-parity method (d) Objective -and-task method

Answer : C

42.____ is screening new-product ideas in order to spot good ideas and drop poor ones as soon as possible.
(a) Idea generation (b) Concept development and testing
(c) Idea screening (d) Brainstorming

Answer : C

43.The type of sales force structure in which the sales force sells along product lines is called a
(a) territorial sales force (b) product sales force
(c) customer sales force (d) retail sales force

Answer : B

44.A company is in the _____ stage of the new product development process when the company develops the product concept into a physical product in order to assure that the product idea can be turned into a workable product.
(a) product development (b) commercialization
(c) marketing strategy (d) business analysis

Answer : A

45.When personal interviewing involves inviting six to ten people to gather for a few hours with a trained interviewer to talk about a product, service, or organization, the method is calledAnswer :
(a) selective sponsorship (b) probing
(c) focus group interviewing (d) the Delphi method

Answer : C

46.All of the following factors can affect the attractiveness of a market segment
EXCEPTAnswer :
(a) the presence of many strong and aggressive competitors
(b) the likelihood of government monitoring
(c) actual or potential substitute products
(d) the power of buyers in the segment

Answer : B

47.If a government uses barriers to foreign products such as biases against a foreign company’s bids, or product standards that go against a foreign company’s product features, the government is using
(a) protectionism (b) exchange controls
(c) exchange facilitators (d) non-tariff trade barriers

Answer : D

48.The choice between high markups and high volume is part of which of the following retailer marketing decisions?
(a) Target market decisions
(b) Product assortment and services decisions
(c) Pricing decisions
(d) Promotion decisions

Answer : C

49.One common misuse of marketing research findings in contemporary business is the tendency for marketing research to Answer :
(a) become a vehicle for pitching the sponsor’s products
(b) become a vehicle for discriminating in the marketplace
(c) become a means for raising prices
(d) become a means for unfair competition

Answer : A

50.The most logical budget setting method is found in the list below. Which is it?
(a) Affordable method (b) Percentage-of-Sales method
(c) Competitive-parity method (d) Objective-and-task method

Answer : D

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Guide to Money Matters-All about The Indian Currency

Posted on 24 February 2011 by admin

Money as a means of payment, consists of coins, paper money and withdrawable bank deposits. Today, credit cards and electronic cash form an important component of the payment system. For a common person though, money simply means currency and coins. This is so because in India, the payment system, especially for retail transactions still revolves around currency and coins. There is very little, however, that the common person knows about currency and coins he handles on a daily basis.

Here is an attempt to answer some of the Frequently Asked Questions on Indian Currency.

Some Basics

What is the Indian currency called?
The Indian currency is called the Indian Rupee (INR) and the coins are called paise. One Rupee consists of 100 paise.

What are the present denominations of bank notes in India?
At present, notes in India are issued in the denomination of Rs.5, Rs.10, Rs.20, Rs.50, Rs.100, Rs.500 and Rs.1000. These notes are called bank notes as they are issued by the Reserve Bank of India (Reserve Bank). The printing of notes in the denominations of Re.1 and Rs.2 has been discontinued as these denominations have been coinised. However, such notes issued earlier are still in circulation. The printing of notes in the denomination of Rs.5 had also been discontinued; however, it has been decided to reintroduce these notes so as to meet the gap between the demand and supply of coins in this denomination.

What are the present available denominations of coins in India?
Coins in India are available in denominations of 10 paise, 20 paise, 25 paise, 50 paise, one rupee, two rupees and five rupees. Coins up to 50 paise are called ‘small coins’ and coins of Rupee one and above are called ‘Rupee Coins’.

Can bank notes and coins be issued only in these denominations?
Not necessarily. The Reserve Bank can also issue notes in the denominations of one thousand rupees, five thousand rupees and ten thousand rupees, or any other denomination that the Central Government may specify. There cannot, though, be notes in denominations higher than ten thousand rupees in terms of the current provisions of the Reserve Bank of India Act, 1934. Coins can be issued up to the denomination of Rs.1000.

Currency Management

What is the role of the Reserve Bank in currency management?
The Reserve Bank manages currency in India. The Government, on the advice of the Reserve Bank, decides on the various denominations. The Reserve Bank also co-ordinates with the Government in the designing of bank notes, including the security features. The Reserve Bank estimates the quantity of notes that are likely to be needed denomination-wise and places the indent with the various presses through the Government of India. The notes received from the presses are issued and a reserve stock maintained. Notes received from banks and currency chests are examined. Notes fit for circulation are reissued and the others (soiled and mutilated) are destroyed so as to maintain the quality of notes in circulation. The Reserve Bank derives its role in currency management on the basis of the Reserve Bank of India Act, 1934.

What is the role of Government of India?
The responsibility for coinage vests with Government of India on the basis of the Coinage Act, 1906 as amended from time to time. The designing and minting of coins in various denominations is also attended to by the Government of India.

Who decides on the volume and value of bank notes to be printed and on what basis?
The Reserve Bank decides upon the volume and value of bank notes to be printed. The quantum of bank notes that needs to be printed broadly depends on the annual increase in bank notes required for circulation purposes, replacement of soiled notes and reserve requirements.

Who decides on the quantity of coins to be minted?
The Government of India decides upon the quantity of coins to be minted.

How does the Reserve Bank estimate the demand for bank notes?
The Reserve Bank estimates the demand for bank notes on the basis of the growth rate of the economy, the replacement demand and reserve requirements by using statistical models.

How does the Reserve Bank reach the currency to people?
The Reserve Bank manages the currency operations through its offices located at Ahmedabad, Bangalore, Bhopal, Bhubaneshwar, Belapur(Navi Mumbai), Kolkata, Chandigarh, Chennai, Guwahati, Hyderabad, Jaipur, Kanpur, Lucknow, Mumbai (Fort), Nagpur, New Delhi, Patna and Thiruvananthapuram. These offices receive fresh notes from the note presses. Similarly, the Reserve Bank offices located at Kolkata, Hyderabad, Mumbai and New Delhi initially receive the coins from the mints. These offices then send them to the other offices of the Reserve Bank. The notes and rupee coins are stocked at the currency chests and small coins at the small coin depots. The bank branches receive the bank notes and coins from the currency chests and small coin depots for further distribution among the public.

What is a currency chest?
To facilitate the distribution of notes and rupee coins, the Reserve Bank has authorised selected branches of banks to establish currency chests. These are actually storehouses where bank notes and rupee coins are stocked on behalf of the Reserve Bank. At present, there are over 4422 currency chests. The currency chest branches are expected to distribute notes and rupee coins to other bank branches in their area of operation.

What is a small coin depot?
Some bank branches are also authorised to establish small coin depots to stock small coins. There are 3784 small coin depots spread throughout the country. The small coin depots also distribute small coins to other bank branches in their area of operation.

What happens when the notes and coins return from circulation?
Notes and coins returned from circulation are deposited at the offices of the Reserve Bank. The Reserve Bank then separates the notes that are fit for reissue and those which are not fit for reissue. The notes which are fit for reissue are sent back in circulation and those which are unfit for reissue are destroyed after processingshredded. The same is the case with coins. The coins withdrawn are sent to the Mints for melting.

From where can the general public obtain bank notes and coins?
Bank notes and coins can be obtained at any of the offices of the Reserve Bank and at all branches of banks maintaining currency chests and small coin depots.

Current Issues

Why are the coins and bank notes in short supply?
This is not entirely correct. It is true that till recently the demand for currency was more than their supply. The primary reason for this is that the Indian society is still predominantly cash-driven. However, at present there are no supply constraints so far as bank notes are concerned. As regards coins, Government of India are taking various steps, including importing rupee coins. The impression of coins being in short supply is also enhanced probably due to people’s preference for notes.

Is there a way to reduce dependence on cash?
Yes, once instruments such as, cheques, credit and debit cards, electronic funds transfer gain popularity, the demand for currency is expected to go down.

Meanwhile, are some steps being taken to increase the supply of bank notes and coins?
Yes, several steps have been taken to augment the supply of bank notes and coins. Some of these are:

  • The existing note printing presses and the mints owned by the Government are being modernised.
  • Two new currency printing presses with the state-of-the-art technology have been set up under the aegis of the Bharatiya Reserve Bank Note Mudran Ltd., a wholly owned subsidiary of the Reserve Bank.
  • To bridge the demand-supply gap, the Government had, as a one-time measure, even imported bank notes.
  • The production capacity of the four India Government Mints are being augmented.
  • Government of India has also been importing rupee coins to supplement the supply of coins from the four mints. Till date 2 billion rupee coins have been imported.

Why are Re1, Rs.2 and Rs.5 notes not being printed?
Volume-wise, the share of such small denomination notes in the total notes in circulation was as high as 57 per cent but constituted only 7 per cent in terms of value. The average life of these notes was found to be around a year. The cost of printing and servicing these notes was, thus, not commensurate with their life. Printing of these notes was, therefore, discontinued. These denominations were, therefore, coinised. However, it has been decided that notes in the denomination of Rs.5 be re-introduced so as to meet the gap between the demand and supply of coins in this denomination.

Soiled and Mutilated Notes

What are soiled and mutilated notes?
Soiled notes are notes, which have become dirty and limp due to excessive use. Mutilated notes are notes, which are torn, disfigured, burnt, washed, eaten by white ants, etc. A double numbered note cut into two pieces but on which both the numbers are intact is now being treated as soiled note.

Can such notes be exchanged for value?
Yes. Soiled notes can be tendered at all bank branches for and exchange obtained.

How much value would one get in exchange of soiled or mutilated notes?
Full value is payable against soiled notes. Payment of exchange value of mutilated notes is governed by the Reserve Bank of India (Note Refund) Rules, 1975. These Rules have been framed under Section 28 of the Reserve Bank of India Act, 1934. The public can get value for these notes as laid down in the Rules, after adjudication. Currently, provisions exist for paying either full, half or no value as far as notes in the denomination for Rs.10 and above are concerned; as regards Re.1, Rs.2 & Rs.5, a tenderer can get either full or no value depending upon the condition of the note.

What types of notes are not eligible for payment under the Note Refund Rules?
The following notes are not payable under the Note Refund Rules.

A note which is

  • less than half the area of the full note
  • devoid of the major portion of the number, i.e., the prefix and three digits or four digits of the number in notes up to and inclusive of Rs.5; in respect of notes of Rs.10 and above, where this inadequacy is present at both the numbering panels.
  • cancelled by any office of the Reserve Bank or against which the value has already been paid
  • found to be forged
  • deliberately cut, mutilated or tampered
  • carrying extrinsic words or visible representation intended to convey or capable of conveying any message of a political character.

What if a note is found to be non-payable?
Non-payable notes are retained by the receiving banks and sent to the Reserve Bank where they are destroyed.

Where are soiled/mutilated notes accepted?
All banks are authorised to accept soiled notes across their counters and pay the exchange value. They are expected to offer this service even to non-customers. All public sector bank branches and currency chest branches of private sector banks are authorised to adjudicate and pay value in respect of mutilated notes, in terms of the Reserve Bank of India (Note Refund) Rules, 1975. The RBI has also authorised all commercial bank branches to treat certain notes in ‘two pieces’ as soiled notes and pay exchange value.

Features of Contemporary Bank Notes

What are the general features of bank notes currently in circulation?
Rs.10, Rs.20, Rs.50 and Rs.100 notes issued earlier and which are still in circulation contain the Ashoka Pillar watermark and Ashoka Pillar effigy. The Rs.500 notes issued earlier i.e. since 1987 bear the Ashoka Pillar watermark and the Mahatma Gandhi portrait. The Reserve Bank is now issuing bank notes in Mahatma Gandhi series. This means that the notes contain Mahatma Gandhi watermark as well as Mahatma Gandhi’s portrait. The Rs.5 notes re-introduced in August 2001 also bear the Ashoka Pillar watermark and Ashoka Pillar effigy. All these notes issued by the Bank are legal tender.

Why was the change brought about?
The central banks the world over bring in some change in the design of their bank notes. This is primarily to make counterfeiting difficult. India also follows the same policy.

Are there any special features introduced in the notes of Mahatma Gandhi series?
The new Mahatma Gandhi series of notes contain several special features vis-à-vis the notes issued earlier. These are:

i) Security thread: Rs.10, Rs.20 and Rs.50 notes contain a readable but fully embedded security windowed security thread. Rs.100, Rs.500 and Rs.1000 notes contain a readable 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 notes, this thread contains the words ‘Bharat’ in the devnagri script and ‘RBI’ appearing alternately. The security thread of the Rs.1000 note contains the inscription ‘Bharat’ in the devnagri script, ’1000′ and ‘RBI’. Notes issued earlier have a plain, non-readable fully embedded security thread.

ii) Latent Image: A vertical band behind on the right side of the Mahatma Gandhi’s portrait, which 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 note is held on the palm and light allowed to fall on it at 45° ; otherwise this feature appears only as a vertical band.

iii) Microletterings: 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 notes. This feature can be seen better under a magnifying glass.

iv) Identification mark: A special intaglio feature has been introduced on the left of the watermark window on all notes except Rs.10/- note. 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.

v) Intaglio Printing: The portrait of Mahatma Gandhi, Reserve Bank seal, guarantee and promise clause, Ashoka Pillar Emblem on the left, 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 notes.

vi) Fluorescence: The number panels of the notes are printed in fluorescent ink. The notes also have optical fibres. Both can be seen when the notes are exposed to ultra-violet lamp.

vii) Optically Variable Ink: The numeral 500 & 1000 on the Rs.500 [revised colour scheme of mild yellow, mauve and brown] and Rs.1000 notes are printed in Optically Variable Ink viz., a colour-shifting ink. The colour of these numerals appear green when the notes are held flat but would change to blue when the notes are held at an angle.

Forgeries

How does one differentiate between a genuine note and a forged note?
The notes on which the above features are not available can be suspected as forged notes and examined minutely.

What are the legal provisions relating to printing and circulation of forged notes?
Printing and circulation of forged notes are offences under Sections 489A to 489E of the Indian Penal Code and are punishable in the courts of law by fine or imprisonment or both, depending on the offence.

Remember: An aware public is the best safeguard against forgeries

Information Courtesy :RBI Website

http://www.rbi.org.in

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Inflation-What is Inflation,Its effects on an Economy

Posted on 19 February 2011 by admin

In economics, inflation  is a rise in the general level of prices of goods and services in an economy over a period of time.  When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the purchasing power of money – a loss of real value in the internal medium of exchange and unit of account in the economy.  A chief measure of price inflation is the inflation rate, the annualized percentage change in a general price index (normally the Consumer Price Index) over time.

Inflation’s effects on an economy are various and can be simultaneously positive and negative. Negative effects of inflation include a decrease in the real value of money and other monetary items over time, uncertainty over future inflation may discourage investment and savings, and high inflation may lead to shortages of goods if consumers begin hoarding out of concern that prices will increase in the future. Positive effects include ensuring central banks can adjust nominal interest rates (intended to mitigate recessions), and encouraging investment in non-monetary capital projects.

Inflation and the Money Supply

We can also have inflation and deflation by changing the amount of money in the system. If the government decides to print a lot of money, then dollars will become plentiful relative to oranges, just as in our drought situation. Thus inflation is caused by the amount of dollars rising relative to the amount of oranges (goods and services), and deflation is caused by the amount of dollars falling relative to the amount of oranges. Thus, as shown by the article “Why Does Money Have Value?”, inflation is caused by a combination of four factors:

1. The supply of money goes up.
2. The supply of other goods goes down.
3. Demand for money goes down.
4. Demand for other goods goes up

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IBRD and its Functions

Posted on 12 February 2011 by admin

The International Bank for Reconstruction and Development (IBRD) is one of five institutions that comprise the World Bank Group. The IBRD is an international organization whose original mission was to finance the reconstruction of nations devastated by World War II. Now, its mission has expanded to fight poverty by means of financing states. Its operation is maintained through payments as regulated by member states. It came into existence on December 27, 1945 following international ratification of the agreements reached at the United Nations Monetary and Financial Conference of July 1 to July 22, 1944 in Bretton Woods, New Hampshire.

The IBRD provides loans to governments, and public enterprises, always with a government (or “sovereign”) guarantee of repayment subject to general conditions (pdf). The funds for this lending come primarily from the issuing of World Bank bonds on the global capital markets—typically $12–15 billion per year. These bonds are rated AAA (the highest possible) because they are backed by member states’ share capital, as well as by borrowers’ sovereign guarantees. (In addition, loans that are repaid are recycled, or relent.) Because of the IBRD’s credit rating, it is able to borrow at relatively low interest rates. As most developing countries have considerably lower credit ratings, the IBRD can lend to countries at interest rates that are usually quite attractive to them, even after adding a small margin (about 1%) to cover administrative overheads.

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UK Sinha has appointed as the New Chairman of Sebi

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UK Sinha has appointed as the New Chairman of Sebi

Posted on 31 January 2011 by admin

The government has appointed UTI chief UK Sinha as the new chairman of market regulator Securities Exchange Board of India (Sebi). Sinha will succeed incumbent CB Bhave, whose term is scheduled to end on February 17.

According to senior government officials, Sinha’s appointment has been formally approved and orders will be issued soon. A search panel headed by Cabinet secretary KM Chandrasekhar had recommended Sinha’s name for the post in December 2010. He is currently chairman and managing director of UTI-Asset Management Company and is also serving as the mutual fund industry body AMFI’s chairman.

Bank Exam Question Papers : SolvedQuestions.com-World’s Largest Database of Solved Question Papers|Exam Preperation|Previous Question papers.www.SolvedQuestions.com

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All about Inter Bank Transfer-Frequently Asked Banking Questions and Terms

Posted on 20 January 2011 by admin

1.  What is Inter Bank Transfer?

Inter Bank Transfer is a special service that allows you to transfer funds electronically to accounts in other banks in India through:

* NEFT – The acronym “NEFT” stands for National Electronic Funds Transfer. Funds are transferred to the credit account with the other participating Bank using RBI’s NEFT service. RBI acts as the service provider and transfers the credit to the other bank’s account.

* RTGS –The acronym “RTGS” stands for Real Time Gross Settlement. The RTGS system facilitates transfer of funds from accounts in one bank to another on a “real time” and on “gross settlement” basis. The RTGS system is the fastest possible inter bank money transfer facility available through secure banking channels in India.

2. What is the minimum/maximum amount for RTGS/NEFT transactions under Retail Internet Banking?

Type     Minimum     Maximum
RTGS     Rs. 2 Lakhs     Rs. 5 Lakhs
NEFT     No Limit     Rs. 5 Lakhs

3. What is the minimum/maximum amount for RTGS/NEFT transactions under Corporate Internet Banking?

Type     Minimum     Maximum
RTGS     Rs. 2 Lakhs     No Limit
NEFT     No Limit     No Limit

4. When does the beneficiary get the credit for a RTGS payment?

Under normal circumstances the beneficiary bank?s branch receives the funds in real time as soon as funds are transferred by the remitting bank.
5. When does the beneficiary get the credit for a NEFT payment?

The funds will be sent to the RBI within three hours of the transaction. The actual time taken to credit the beneficiary depends on the time taken by the beneficiary bank to process the payment.

6. If an RTGS transaction is not credited to a beneficiary account, does the Remitter get back the money?

Yes. If it is unable to credit the amount of the remittance to the account of the beneficiary for any reason, the beneficiary’s bank has to return the money to the remitting bank within 2 hours. Once this amount is received back by the remitting bank, the amount is credited to the Remitter’s account by the remitting bank branch.

7. If an NEFT transaction is not credited to a beneficiary account, does the Remitter get back the money?

Yes. If the money cannot be credited for any reason, the beneficiary’s bank has to return the money to the remitting bank . Once this amount is received back by the remitting bank, the amount is credited to the Remitter’s account by the remitting bank branch.

8. At what time during the day/week is the RTGS & NEFT service is available?

RTGS transactions will be sent to RBI based on the following schedule:

Day     Start Time     End Time
Monday to Friday     9:00 hrs     16:00 hrs
Saturday     9:00 hrs     13:00 hrs

NEFT transactions will be sent to RBI based on the following schedule:

Day     Start Time     End Time
Monday to Friday     8:00 hrs     18:30 hrs
Saturday     8:00 hrs     12:30 hrs

Please note that all the above timings are based on Indian Standard Time (IST) only.

9. What is the mandatory information required to make an RTGS & NEFT payment?

The Remitter has to provide the following details:

* Amount to be remitted
* Account number which is to be debited
* Name of the beneficiary bank
* Name of the beneficiary
* Account number of the beneficiary
* Remarks or description, if any
* The IFSC code of the beneficiary branch

10. How to find the IFSC code of the beneficiary branch?

Based on simple search option- Location, Bank & Branch. The IFSC code will automatically be updated or if you know the IFSC code of the beneficiary bank, you can provide it directly.
11. Do all bank branches in India provide RTGS & NEFT service?

No. RTGS facility is enabled only in specific bank branches across India. You can view a list of these branches in the RBI website: www.rbi.org.in/Scripts/Bs_viewRTGS.aspx. NEFT is enabled only in specific bank branches across India. You can view a list of these branches in the RBI website: http://www.rbi.org.in/scripts/neft.aspx.
12. How do I go about using this service?

1. You should be an active Internet Banking user with transaction rights.
2. Log on to Banks Website with Internet Banking ID and Password.
3. Click on the ‘Manage Interbank Payee’ link in the ‘Profile’ tab.
4. Select the ‘Add’ option and provide the Beneficiary Name, Beneficiary Account Number, Beneficiary Bank and transfer limit to register the Beneficiary.
5. IFSC code of the Beneficiary’s bank can be keyed in by two ways:
1. Click the IFSC Code option and a textbox is displayed where you can enter the 11 digit IFSC Code of the Beneficiary Bank.
2. Click the Location option, the following are retrieved and displayed.
* Beneficiary Bank Name – Dropdown Menu
* Location – Dropdown Menu
* Branch – Dropdown Menu
6. The confirm button will be enabled only after clicking the accept button in the terms and conditions window.
7. After providing all the details, the beneficiary will be added. It will be shown whether the added beneficiary bank is RTGS or NEFT enabled.
8. After adding the Beneficiary you will receive a high security password in your mobile number. This is done basically to double check your identity. Provide the password to authorize the Beneficiary After a Beneficiary is authorized you can start transferring funds.
9. You can proceed to make payments by clicking the ‘Inter bank Transfer’ link in the ‘Payments/Transfers’ tab.
10. According to the transaction type selected (RTGS/NEFT), the credit account details will be displayed depending on whether the branch is RTGS or NEFT enabled or both.
11. Select the Beneficiary from the list of registered Beneficiaries.
12. You can either confirm or cancel the transaction.

13. What are the service charges applicable for RTGS/NEFT transactions?

Commission charges: For outward RTGS Rs. 25/- per transaction.For Inward RTGS Rs. 100/- per message to be recovered from the recipient. Charges for NEFT transactions are as listed in the following table:
Amount     Service Charge
RTGS     Rs. 2 lakhs to Rs. 5 lakhs     Rs. 25/-
Above Rs. 5 lakhs     Rs. 50/-
NEFT     Upto Rs. 1 lakh     Rs. 5/-
Above Rs. 1 lakh to Rs. 2 lakhs     Rs. 15/-
Above Rs. 2 lakhs     Rs. 25/-

14. Whom I can contact, in case of non-credit or delay in credit to the beneficiary account for NEFT transaction?

Please contact your bank/branch or the receiver bank/branch or the Customer Facilitation Service center of the banks. The Customer Facilitation Service details for NEFT can be downloaded from here

# An RTGS transaction will be credited to your beneficiary’s account on the same day, provided your transaction is posted before the bank specified business hours. Please note that the minimum amount for an RTGS transaction is Rs. 2,00,000/-.
# NEFT transactions will be processed maximum within the next working day depending on the settlement time. There is no minimum transaction amount for NEFT transactions.
# State Bank Group transactions will be processed immediately under settlement time. There is no minimum transaction amount for State Bank Group transactions.
# Please note that RTGS/NEFT/State Bank Group transactions will be processed as per the following schedule only. Transactions will not be processed on Sundays or public holidays.
Know More…about RTGS/NEFT/State Bank Group Holidays
#
Transaction Type     Monday Through Friday     Saturdays
RTGS     9: 00 A.M. to 4: 00 P.M.     9: 00 A.M.to 1: 00 P.M.
NEFT     8: 00 A.M. to 6: 30 P.M.     8: 00 A.M.to 12: 30 P.M.
State Bank Group     8: 00 A.M. to 4: 00 P.M.     8: 00 A.M.to 12: 30 P.M.
# All beneficiaries accounts added under RTGS/NEFT service maintained at any State Bank Group Bank(State Bank of India, State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Patiala, State Bank of Travancore & State Bank of Mysore) by default will be available under State Bank Group Transfer in Payments/Transfer — > Manage Interbank Transfer link. Also, if the transaction scheduled date is of a State Bank Group Transfer holiday, the same will be scheduled for next transaction date.

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Banks to Allow Only One ATM Transaction Per PIN Entry

Posted on 14 January 2011 by admin

In order to check misuse of ATM cards by unauthorised people, RBI(Reserve Bank of India) has asked banks to allow only one transaction at ATM machines for one entry of PIN (Personal Identification Number) which acts like a password for ATM transactions).

The transactions that a bank customer can conduct through the ATMs (Automated Teller Machines), by inserting or swiping the card and entering the PIN, include withdrawal of money, deposits, fund transfer, bill payments, checking account details etc.

Previously, customers were allowed to conduct multiple transactions through the ATM by punching in their PIN only once in a single session.

for more current affairs and Bank/Banking related information’s read http://www.currentaffairs.generalknowledgetoday.com/

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Money Bills and its important features

Posted on 28 December 2010 by admin

Bills which exclusively contain provisions for imposition and abolition of taxes, for appropriation of moneys out of the Consolidated Fund, etc., are certified as Money Bills. Money Bills can be introduced only in Lok Sabha. Rajya Sabha cannot make amendments in a Money Bill passed by Lok Sabha and transmitted to it. It can, however, recommend amendments in a Money Bill, but must return all Money Bills to Lok Sabha within fourteen days from the date of their receipt.

It is open to Lok Sabha to accept or reject any or all of the recommendations of Rajya Sabha with regard to a Money Bill. If Lok Sabha accepts any of the recommendations of Rajya Sabha, the Money Bill is deemed to have been passed by both Houses with amendments recommended by Rajya Sabha and accepted by Lok Sabha and if Lok Sabha does not accept any of the recommendations of Rajya Sabha, Money Bill is deemed to have been passed by both Houses in the form in which it was passed by Lok Sabha without any of the amendments recommended by Rajya Sabha. If a Money Bill passed by Lok Sabha and transmitted to Rajya Sabha for its recommendations is not returned to Lok Sabha within the said period of fourteen days, it is deemed to have been passed by both Houses at the expiration of the said period in the form in which it was passed by Lok Sabha.

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What is NEFT, RTGS and Inter Bank Transfer?

Posted on 07 October 2010 by admin

Inter Bank Transfer is a special service that allows you to transfer funds electronically to accounts in other banks.

In India  the Inter Bank Transfer is possible mainly through 2 methods:

NEFT – The acronym “NEFT” stands for National Electronic Funds Transfer. Funds are transferred to the credit account with the other participating Bank using RBI’s NEFT service. RBI acts as the service provider and transfers the credit to the other bank’s account.

RTGS –The acronym “RTGS” stands for Real Time Gross Settlement. The RTGS system facilitates transfer of funds from accounts in one bank to another on a “real time” and on “gross settlement” basis. The RTGS system is the fastest possible inter bank money transfer facility available through secure banking channels in India.

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