http://ift.tt/29jYqWq Get all you need for Banking and Insurance Exam Preparation (IBPS PO, IBPS, LIC AAO) Wed, 24 Aug 2016 14:30:00 +0000 en-US hourly 1 http://ift.tt/2bzX4VB http://ift.tt/2bBI7Xw Wed, 24 Aug 2016 14:30:00 +0000 http://ift.tt/2bzX08l As you know Current Affairs is a very important section to get a good score for Bank and other Exams. Thus, we are sharing with you Current Affairs and G.K. questions for your better preparation which is very important and you can expect similar questions in the exam.
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]]> http://ift.tt/2bzX1cp 7 http://ift.tt/2bBHIUL http://ift.tt/2bzX7QV Wed, 24 Aug 2016 13:48:27 +0000 http://ift.tt/2bBHUDv National Affairs
1. Union govt launches online library “Sugamya Pustakalaya”
Today, government has launched accessible E-Library “Sugamya Pustakalaya” for Divyang under Prime Minister’s Sugamya Bharat Abhiyan in New Delhi.
Sugamya Pustakalaya is an online library for Divyang and houses publications across diverse subjects and languages in multiple accessible formats.
Over 2 lakhs books are available in Accessible formats for people with visual impairment and other print disabilities.
Note:-
The online library has been created in collaboration with National Institute of Visually Handicapped, member organisations of Daisy Forum of India and Bookshare.
2. Pink colour envelop launches in Jharkhand to expedite judicial process
A special pink colour envelop under speed post has been launched by the Chief Justice of Jharkhand High Court Justice Virender Singh with a purpose to expedite judicial process.
All the notice and summons of the High Court will be served through this envelop, which would be a special category of Speed Post.
Now, the entire process of the service could be tracked online.
Honours & Awards
3. Haryana: Sakshi malik as brand ambassador for Beti Bachao, Beti Padao campaign
Chief Minister of Haryana Manohar Lal Khattar has announced Sakshi malik as brand ambassador for “Beti Bachao, Beti Padao campaign” in the state.
Chief Minister awarded 2.5 crore rupees and Commendation Certificate to Rio bronze medal winner Sakshi Malik.
He also presented a cheque of Rs. 10 lakh each to her coaches Mandeep and Kuldeep.
A sports nursery and a stadium would be set up at Mohra (native village of Sakshi) in Rohtak district.
4. Andhra Pradesh CM felicitates PV Sindhu, Coach Pullela Gopichand
Andhra Pradesh Chief Minister N Chandrababu Naidu has felicitated Olympic Silver medallist P V Sindhu and her Coach Pullela Gopichand at IGM stadium in Vijayawada.
According to Chief Minister Naidu Rs.3 crore cash reward, 1,000 square yard house site (in Amaravathi) and Group one cadre job will be given to P V Sindhu and Rs.50 lakh to Gopichand.
He also announced Rs.25 lakh cash reward and Group II cadre job to Olympian Srikanth.
Andhra University has decided to confer honorary doctorate to Gopichand.
Obituaries
5. Singapore’s longest serving president Sellapan Ramanathan passes away
Indian-origin Former President of Singapore Sellapan Ramanathan (92-year) passed away.
He was the sixth and longest-serving (1999 to 2011) President of Singapore.
Ramanathan was closely associated with the founding leader of Singapore Lee Kuan Yew.
He was born in 1924 in the family of Indian Tamil descent in Straits Settlements of Singapore.
6. Former editor of ‘Mathrubhumi’ K K Sreedharan Nair passes away
Former editor of ‘Mathrubhumi’ K K Sreedharan Nair (86-year) passed away in Kochi.
Sreedharan Nair had retired from service on June 8, 2015.
He was selected for the first Kelappaji memorial award instituted by Kerala Mahatmaji Samskarika Vedi in 2010.
National & International Appointment
7. Ashok Chawla to take over as YES Bank non-executive chairman
Former Competition Commission of India (CCI) head Ashok Chawla will take charge as Non-Executive Part-time Chairman of the YES Bank with effect from October 30, 2016.
He has been appointed for a period of three years (from the date of joining).
Currently, Chawla is the Chairman of NSE and chairs the governing council of The Energy and Research Institute (TERI).
Banking & Finance
8. JNPT signs agreement with SBI, Bank of Singapore for ECB of $400mn
India’s Jawaharlal Nehru Port has signed 400 Million US Dollar agreement with State Bank of India and Development Bank of Singapore for External Commercial Borrowing (ECB) in Navi Mumbai.
The agreement has been signed by JNPT Chairman Anil Diggikar.
The ECB of 400 Million Dollar will be primarily utilised for expansion of JNPT’s existing road network connecting to its port project.
It will help JNPT to double its existing capacity.
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GK Quiz (for previous day’s news only)Take the quiz below to find out how well-versed you are with current affairs. You can also go through the Daily GK Update: 23nd August 2016_before attempting the quiz.
]]> http://ift.tt/2bzX9Zc 9 http://ift.tt/2bBHo8y http://ift.tt/2bzWMhp Wed, 24 Aug 2016 13:20:10 +0000 http://ift.tt/2bBIml7 Dear Readers,
In continuation of our series Soul of Banking Awareness we are providing you an important article on RBI Monetary policy. Hope this will surely help you in your preparation.
Monetary policy is the macroeconomic policy laid down by the central bank. It involves management of money supply and interest rate to achieve macroeconomic objectives like inflation, consumption, growth and liquidity.
In India, monetary policy of the Reserve Bank of India is aimed at managing the quantity of money in order to meet the requirements of different sectors of the economy and to increase the pace of economic growth.
The RBI implements the monetary policy through open market operations, bank rate policy, reserve ratios, and through many other instruments. Using any of these instruments will lead to changes in the interest rate, or the money supply in the economy.
Liquidity is important for an economy to spur growth. To maintain liquidity, the RBI is dependent on the monetary policy.
There are several direct and indirect instruments that are used in the implementation of monetary policy. And these are as follow:
Cash Reserve Ratio (CRR): The share of net demand and time liabilities(deposits) that banks must maintain as cash balance with the Reserve Bank.
Statutory Liquidity Ratio (SLR): The share of net demand and time liabilities (deposits) that banks must maintain in safe and liquid assets, such as, government securities, cash and gold. Changes in SLR often influence the availability of resources in the banking system for lending to the private sector.
Refinance facilities: For achieving sector specific objectives liquidity or money supply is being injected through sector-specific refinance facilities. However the Reserve Bank has been progressively de-emphasising sector specific policies as they interfere with the transmission mechanism.
Liquidity Adjustment Facility (LAF): Consists of overnight and term repo/reverse repo auctions. Progressively, the Reserve Bank has increased the proportion of liquidity injected in the LAF through term-repos.
Repo rate: It is the rate of interest at which RBI lends money to commercial banks for short term. Any reduction in the repo rate helps banks to get money at cheaper rate.
The amount that banks can borrow under this window has been reduced. Banks can now borrow only up to 0.25 per cent of their NDTL.
Note: Banks are required to provide collateral, but can’t use SLR securities.
Reverse Repo rate: It is the rate at which RBI borrows money from commercial banks. It is usually 1% less than Repo rate.
Term Repos: It was introduced in October 2013 with different time span like– 7/14/28 days.
The ‘term repo’ allows RBI to supply funds from time to time, with banks bidding for the rates at which they will borrow this money.
The overall borrowing limit under term repo is upto 0.75 per cent of banks’ net demand and time liabilities (NDTL).
The aim of term repo is to help develop inter-bank money market.
Effects on banks of new “term Repo” rate:
1. By capping the amount borrowed at the repo window, the RBI is pushing banks to borrow at higher rates thus the weighted average cost of funds for banks may go up.
2. The second fallout of the term repos is that banks may have to stop relying on the RBI for liquidity support at a fixed rate and instead adapt to ‘floating’ rates that RBI prefers to accept on each auction.
Through term repos the RBI can control both the liquidity as well as the rate at which it provides funds to banks.
Marginal Standing Facility (MSF): It was introduced in the year 2011.
A facility under which scheduled commercial banks can borrow additional amount of overnight money from the Reserve Bank.
In this case Banks use SLR portfolio as collateral to borrow funds upto 2% their net demand and time liabilities deposits at a rate of interest which is currently 1% above the repo rate.
Open Market Operations (OMOs): These include both, outright purchase/sale of government securities (for injection/absorption of liquidity). By purchasing bonds through open market operations, the RBI introduces money in the system and reduces the interest rate.
Bank Rate: It is the rate at which the Reserve Bank is ready to buy or rediscount bills of exchange or other commercial papers for longterm. This rate has been aligned to the MSF rate and, therefore, changes automatically as and when the MSF rate changes alongside policy repo rate changes.
Market Stabilisation Scheme (MSS): This instrument for monetary management was introduced in 2004.
Surplus liquidity of a more enduring nature arising from large capital inflows is absorbed through sale of short-dated government securities and treasury bills.
The mobilised cash is held in a separate government account with the Reserve Bank.
The instrument thus has features of both, SLR and CRR.
Important notes:
Last monetary policy review (3rd) took place on 9th August 2016 and the rates are:
1. Repo Rate – 6.50% (Unchanged)
2. Reverse Repo Rate – 6.00%
3. CRR (Cash Reserve ratio) – 4% (Unchanged)
4. Bank Rate – 7.00%
5. MSF (Marginal Standing Facility) – 7.00%
6. SLR (Statutory Liquidity Ratio) – 21.00% (as per RBI official website)
Next monetary policy review (4th ) will be on Oct 4, 2016
Thanks
Team GradeUp.!!
]]> http://ift.tt/2bBHtsW 2 http://ift.tt/2bzX7k6 http://ift.tt/2bBHfC9 Wed, 24 Aug 2016 12:37:48 +0000 http://ift.tt/2bzXk6K Dear aspirants,
In continuation with our “Big Bank Theory” initiative, today we will discuss an important topic of Economics i.e. “Understanding Financial Markets”.
Understanding Financial Markets
Financial Market – Let us explain first, If we talk about market it is not a particular tangible place but it’s refer to a group of entities which participate in borrowing and lending. The products can be classified as – bonds, equities, currencies and derivatives. It is a medium of channel between depositors and borrowers.
Financial Market is divided into two parts:
1. Money Market
2. Capital Market
Money Market
Money Market is a key element of the financial system. It is also known as “Short Term Market” because here trading is done between 1 day to 365 days. In this market, trading is done for a small span of time so “Risk Factor” is very low as well as “returns are very less”. Short –term instrument like – Treasury bills, Commercial papers, Certificates of deposits, etc are issued and traded in this market.
The money market provides facilities to the banks and primary dealers (PDs) to lend or borrow money when there is a mismatch of funds. Scheduled Commercial Banks (except RRB),Co-operative Banks and Primary Dealers participates in these markets. In Call and Notice Money both the borrowers and lenders need to maintain a current account with RBI because this trading happens for very small tenure. This borrowing and lending are on unsecured basis which are –
1. Call Money – When money is lend or borrowed only for 1day.
2. Notice Money – Where money is borrowed or lend for the period between 2 days and 14 days.
3. ‘Term Money’ – I Where money is borrowed or lend for a period exceeding 14 days.
Capital Market
Capital market is another key component of the financial system. It is also known as “Long Term Market” where trading is done for more than a year. In this market, the capital funds comprising of both equity and debt are issued and traded. This also includes private placement sources of debt and equity as well as organized markets like stock exchanges.
Capital market can be further divided into primary and secondary markets.
(i) Primary Market – It is a market which deals with deals with trading & issuance of stocks and other securities.
(ii) Secondary Market – It is a market which comprises of equity and debt markets. It deals with the exchange of existing or previously-issued securities.
In this article, we will discuss on some money market instruments –
1. Treasury bills (T-bills) – In Money Market, if we talk about lowest risk instruments then it is Treasury Bills. It is also known as T-Bills. It is issued by Central Government with fixed day and fixed amount. They are highly liquid as bill holder can transfer or get discount of bill any time from RBI. They are issued as well as auctioned by RBI only but can be purchased by Individuals, Firms, Trusts, Institutions and Banks.
Generally, they are of three types-
Generally, they are of three types-91 days-They are issued with maturity is in 91 days.
(i) 91 days-They are issued with maturity is in 91 days.
(ii) 182 days-They are issued with a maturity of 182 days.364 days.
(iii) 364 days-They are issued with a maturity of 364 days.
Note:
(i) Treasury bills are available for a minimum amount of Rs.25,000 and in multiples of Rs. 25,000.
(ii) Kindly note government has also introduced T-Bills for 14 days as well, these are known as intermediate bills.
In T-Bills,most of the time investors request instruments in demat form instead of securities. Hence, RBI maintains this ledger in SGL (Subsidiary General Ledger).
2. Commercial Paper – It is unsecured money market instrument which was introduced in 1990. It is issued in the form of a promissory note.
Who can issue CP – All India financial Institutions (FIs), Primary dealers (PDs), big companies are permitted to issue commercial paper to enable them to meet their short-term funding requirements.
Tenor – CP shall be issued for maturities between a minimum of 7 days and a maximum of up to one year from the date of issue. The maturity date of the CP shall not go beyond the date up to which the credit rating of the issuer is valid.
Denomination – CP shall be issued in denominations of Rs. 5 lakh and multiples thereof. The amount invested by a single investor should not be less than Rs. 5 lakh (face value).
3. Certificate of Deposits – It is negotiable money market instrument which was introduced in 1989.
Who can issue CD – CDs can be issued by (i) scheduled commercial banks {excluding Regional Rural Banks and Local Area Banks}; and (ii) select All-India Financial Institutions (FIs) that have been permitted by RBI.
Tenor – CD shall be issued for maturities between a minimum of 7 days and a maximum of up to one year from the date of issue.
Note: Financial Institutions can issue for a period not less than 1 year and not exceeding 3 years.
Denomination – CD shall be issued in denominations of Rs. 1 lakh and multiples thereof. The amount invested by a single investor should not be less than Rs. 1 lakh (face value).
4. Cash Management Bills – It is a short-term instrument issued by Central Government to meet the temporary cash flow mismatches of the Government. The announcement of the auction of the Bills is be made by the Reserve Bank of India.
Tenor – It is a non-standard, discounted instruments issued for maturities less than 91 days.
Note: In next post, we will discuss in detail on Capital Market.
Thanks
Team GradeUp
]]> http://ift.tt/2bzXhYz 2 http://ift.tt/2bBI8e2 http://ift.tt/2bzX3AN Wed, 24 Aug 2016 11:15:45 +0000 http://ift.tt/2bBI1Pu Hello Readers,
State Bank Of India has released the Group Discussion & Personal Interview call letter for Probationary Officer.
State Bank of India (SBI) is an Indian multinational, public sector banking and financial services company. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra.
As of 2014-15, it had assets of INR 20,480 billion (USD 310 billion) and more than 14,000 branches, including 191 foreign offices spread across 36 countries, making it the largest banking and financial services company in India by assets. The company is ranked 232nd on the Fortune Global 500 list of the world’s biggest corporations as of 2016.
Important Dates:
SBI PO Mains 2016 Exam was held: 31st July 2016
Result of SBI PO Mains 2016: 19th August 2016
Click here to download the Call Letter
Click here for Bio Data Form
Thanks
Team GradeUp
]]> http://ift.tt/2bzWG9m 5 http://ift.tt/2bBJwgq http://ift.tt/2bzXOtF Wed, 24 Aug 2016 09:30:04 +0000 http://ift.tt/2bBI4uP Dear Readers,
As you all know, next most important exam in banking is IBPS PO & RBI which is going to be held in the month of September & October. We will start focusing on IBPS PO & RBI 2016 Exam. Thus, we are providing you Important Mini Mock test based on Previous Years Question Papers which will help you to get a perfect score in the Exam.
GradeUp is conducting a FREE mock test for IBPS PO and you can pre-register. The test is based on the latest exam pattern.
FREE SBI Mains Mock Test – 2
Thanks!!
]]> http://ift.tt/2bBHJIs 14 http://ift.tt/2bzXlHX http://ift.tt/2bBGXv7 Wed, 24 Aug 2016 08:30:34 +0000 http://ift.tt/2bzX4EX Dear Readers
As you all know, SBI PO exam is over and next most important exam in banking is IBPS PO which is going to held in the month of October. We will start focusing on IBPS PO Mains 2016 Exam. Thus, we are providing you important Quiz on Reasoning which will help you to get a perfect score in the IBPS PO & Other Banking Exams.
GradeUp is conducting a FREE mock test for IBPS PO and you can pre-register. The test is based on the latest exam pattern.
FREE SBI Mains Mock Test – 2
Thanks!!
]]> http://ift.tt/2bBHL2T 14 http://ift.tt/2bzWO8Y http://ift.tt/2bBHWLD Wed, 24 Aug 2016 07:39:22 +0000 http://ift.tt/2bzWPd2 Dear Readers
As you all know, SBI PO exam is over and next most important exam in banking is IBPS PO which is going to held in month of October. We will start focusing on IBPS PO Mains 2016 Exam. Thus, we are providing you important Quiz on Quantitative Aptitude which will help you to get a perfect score in the IBPS PO & Other Banking Exams.
GradeUp is conducting a FREE mock test for IBPS PO and you can pre-register. The test is based on the latest exam pattern.
FREE SBI Mains Mock Test – 2
Thanks!!
]]> http://ift.tt/2bBHUDF 18 http://ift.tt/2bzY6AS http://ift.tt/2bBI6CW Wed, 24 Aug 2016 06:22:25 +0000 http://ift.tt/2bzX5sD Interview Experience: UIIC AO 2016
Profile: Generalist
Venue: The Metropolitan Hotel, Bangla Sahib Road, New Delhi
Date: 23rd August 2016
Reporting Time: 01:00 PM
Document Verification:
Though the reporting time was 01:00 PM, I reached the venue at 12:20 PM. I was seeing too many nervous faces. Some waiting in the Queue for document verification and some indulged in document verification process. Yes, the document verification had already started. I entered into the hall. They were calling the candidates by their name and were verifying the documents. My document verification started at 01:45 PM.
The staff members were very cool and calm. Make sure that you have clubbed all the required documents with you. There was a printer in case if we need any photocopy.
We were supposed to take undertaking in case we didn’t have any of the documents.
I got the interview roll call at 02:30 PM. Till then I was talking with one of the guys sitting there because I thought this will be the best way to avoid nervousness.
Panel: 3 Male, 1 Female
They rang the bell from the room. The peon instructed me to enter into the interview room.
Me: May I come in?
Panel: Yes, come in.
Me: Good after noon Sir, Good after noon mam.
M1: Have a seat.
Me: Thank you Sir.
M2: So you are a mechanical engineer.
Me: Yes sir.
M2: Which one is the oldest machine.
Me: A narrow discussion.
M2: What is thermodynamics?
Me: Answered.
M3: How mechanical engineering is going to help in insurance sector.
Me: Told that even though the application of mechanical engineering is not going to help much but the traits that I have developed over last 4-5 years are going to be very helpful.
M3: What is GDP?
Me: Answered.
M3: Alright, so what is GNP according to you?
Me: While answering, M3 told you are very close to the answer and I completed the answer. He discussed the same with me and seemed satisfied with the answer.
F1: What is management?
Me: Answered.
F1: What are the functions of a manager?
Me: Answered.
F1: What is TQM?
Me: I told it is total quality management and tried to explain a bit.
F1: What is six-sigma?
Me: Told it is a quality management technique.
M1: A general question.
All the panel members were supporting. They were discussing the answers given by me throughout the interview. All I can say is panel members only check your confidence level. If you are confident enough to say “I don’t know”, that also puts a positive impact.
So be yourself. Be confident.
Good Luck.
]]> http://ift.tt/2bBIgKr 9 http://ift.tt/2bzX2wV http://ift.tt/2bBHEVk Wed, 24 Aug 2016 05:00:32 +0000 http://ift.tt/2bzX8nX Dear Readers
As you all know, next most important exam in banking is IBPS PO which is going to held in month of October & November. Thus, we are providing you Important English Quiz on Reading Comprehension which will help you to get a perfect score in the IBPS PO & other Banking Exam 2016.
GradeUp is conducting a FREE mock test for IBPS PO and you can pre-register. The test is based on the latest exam pattern.
FREE SBI Mains Mock Test – 2
Thanks!!
]]> http://ift.tt/2bBI5P6 17
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