Current Affairs : Banking Awareness for IBPS PO Exam 2013

Institute of Banking Personnal Selection (IBPS) is going to conduct exam for recruitment of Probationary Officers in various banking & financial institutions later this month. Observing latest pattern and a few years question papers, IBPS emphasize on banking awareness part in general awareness section of question paper. To help you with this, we are with latest banking awareness topics and current affairs related with banking industry.

• IDBI's 'Own Your NPA Campaign': IDBI Bank has launched a special ‘Own Your NPA’ (non-performing asset) campaign so that officials give it all they’ve got for faster resolution of bad debts. As part of the campaign, each zonal, regional and branch manager will personally go and meet the customers.
• Global rating agency Fitch has scaled down its projections on India’s growth to 4.8% for the current fiscal from the earlier estimate of 5.7% made in June, 2013.
• The Reserve Bank of India (RBI) on 7 October 2013 reduced the Marginal Standing Facility (MSF) rate to 9 per cent from 9.5 per cent.
• Reserve Bank of India on 25 September 2013 banned 0% interest rate schemes for purchase of consumer goods.
• Reserve Bank of India hiked the short-term lending (repo) rate to 7.5%, seeking to control inflation. The Cash Reserve Ratio (CRR) was left unchanged at 4%.
• Reserve Bank of India (RBI) on 19 September announced that banks can open their branches in tier 1 centers without taking its permission in each case.
• The First direct bank (a bank without any branch network that offers its services remotely via online banking and telephone banking and may also provide access via ATMs) has been launched in China by the Bank of Beijing in co-operation with the Netherlands-based ING Group.
• RBI allowed Non-Resident Investors to purchase shares from listed stock exchanges of Indian entities Under FDI Scheme.
• The Pension Fund Regulatory and Development Authority Bill (PFRDA), 2011 which aims to regulate the New Pension System (NPS) has been passed in the Lok Sabha.
• Insurance compnay Life Insurance Corporation (LIC) has increased its equity stake by 2.86% in the country’s largest public sector bank State Bank of India (SBI) from 10.4 % to 13.26% by buying 19.57 lakh shares from open market.
• S R Bansal in new Chairman and Managing director of Corporation Bank.

For more banking awareness articles, please visit again.

Important Banking & Financial Terms for IBPS/Bank PO/Clerk Exams & Interview

1. Balance of Trade:

The value of a country’s exports minus the value of its imports. Unless specified as the balance of merchandise trade, it normally incorporates trade in services, including earnings (interest, dividends, etc.) on financial assets.

2. Balanced Trade:

When a balance of trade equal to zero. (exports – imports = 0)

3. Balance of Payments:

A list of all of a country’s international transactions for a given time period, usually one year. Payments into the country (receipts) are entered as positive numbers, called credits; Payments out of the country (payments) are entered as negative numbers called debits. A single numbers summarize all of a country’s international transactions: the balance of payments surplus.

4. MFN (Most Favoured Nation):

The principle, fundamental to the GATT, of treating imports from a country on the same basis as that given to the most favoured other nation. That is, and with some exceptions, every country gets the lowest tariff that any country gets, and reductions in tariffs to one country are provided also to others.

5. Balanced Budget:

A government budget surplus that is zero, thus with net tax revenue equaling expenditure. A balanced budget changes in policy or behavior is one which a component of the government budget, usually taxes, is adjusted as necessary to maintain a balanced budget.

6. Balanced Growth of an Economy:

Growth of an economy in which all aspects of it, especially factors of production, grow at the same rate.

7. Bank Rate:

The interest rate charges by a central bank to commercial banks for very short term loans.

8. Repo:

Repo is “Repurchase Agreement”. An agreement to sell a security for a specified price and to buy it back later at another specified price. A repo is essentially a secured loan.

9. Repo Rate:

Whenever the banks have any shortage of funds they can borrow it form RBI. Repo rate is the rate at which commercial banks borrows rupees from RBI. A reduction in the repo rate will help banks to get money at cheaper rate. When the repo rate increases borrowing form RBI becomes more expensive.

10. Reverse Repo Rate:

Reverse Repo rate is the rate at which RBI borrows money from commercial banks. Banks are always happy to lend money to RBI since their money is in the safe hands with a good interest. An increase in reverse repo rate can cause the banks to transfer more funds to RBI due to this attractive interest rates.

11. CRR (Cash Reverse Ratio):

CRR is the amount of funds that the banks have to keep with RBI. If RBI increases CRR, the available amount with the banks comes down. RBI is using this method (increase of CRR), to drain out the excessive money from the banks.

12. SLR (Statutory Liquidity Ratio):

SLR is the amount a commercial banks needs to maintain in the form of cash, or gold, or govt. approved securities (Bonds) before providing credit to its customers. SLR rate is determined and maintained by RBI in order to control the expansion of the bank credit.

13. Need of SLR:

With the SLR, the RBI can ensure the solvency of a commercial banks. It is also helpful to control the expansion of the Bank credits. By changing SLR rates, RBI can increase or decrease bank credit expansion. Also through SLR, RBI compels the commercial banks to invest in the government securities like govt. bonds.

14. Main use of SLR:

SLR is used to control inflation and propel growth. Through SLR rate the money supply in the system can be controlled effectively.

15. Fiscal Deficit:

A deficit in the government budget of a country and represents the excess of expenditure over income. So this is the amount of borrowed funds require by the government to meet its expenditures completely.

16. Direct Tax:

A direct tax is that which is paid directly by someone to taxing authority. Income tax and property tax are an examples of direct tax. They are not shifted to somebody else.

17. Indirect Tax:

This type of tax is not paid by someone to the authorities and it is actually passed on to the other in the form of increased cost. They are levied on goods and services produced or purchased. Excise Tax, Sales Tax, Vat, Entertainment tax are indirect taxes.

18. NOSTRO Account:

A Nostro account is maintained by an Indian Bank in the foreign countries.

19. VOSTRO Account:

A Vostro account is maintained by a foreign bank in India with their corresponding bank.

20. SDR (Special Drawing Rights):

SDR are new form of International reserve assets, created by the International Monetary Fund in 1969. The value of SDR is based on the portfolio of widely used countries and they are maintained as accounting entries and not as hard currency or physical assets like Gold.

Imprtant Organisations and their Head Offices for IBPS/Bank PO/Clerk Exams

Imprtant Organisations and their Head Offices for IBPS/Bank PO/Clerk Exams:

1. Food and Agricultural Organisation (FAO) —Rome
2. International Labour Organisation (ILO) —Geneva
3. World Health Organisation (WHO) —Geneva
4. World meteorological Organisation (WMO) —Geneva
5. International Telecommunication Union (ITD) —Geneva
6. International Monetary Fund (IMF) —Washington
7. International Finance Corporation (IFC) —Washington
8. International Bank For Reconstruction and Development (IBRD) or World Bank —Washington
9. International Civil Aviation Organisation (ICAO) —Montreal
10. United Nations Educational Scientific and Cultural Organisation (UNESCO) —Paris
11. United Nations International Children's Emergency Fund (UNICEF) —New York
12. Inter-governmental Maritime Consultative Organisation (IMCO) —London
13. International Atomic Energy Agency (IAEA) —Vienna
14. United Nations Industrial Development Organizations (UNIDO) —Vienna, (Austria)
15. United Nations Fund for Population Activities (UNFPA) —New York
16. United Nations Development Programme (UNDP) —New york
17. United Nations High Commissioner for Refugees (UNHCR) —Geneva (Switzerland)
18. United Nations Environment Programme (UNEP) —Nairobi (Kenya)
19. Universal Postal Union (UPU) —Berne (Switzerland)

For more current Affairs, Keep Visiting gkline.blogspot.com

Indian National Congress Notes for SSC & UPSC Exams

INDIAN NATIONAL CONGRESS : History Notes

* Founded by 1885 by A.O. Hume.

* Venue of 1 st Session – Gokul Tejpal Sanskrit School of Bombay.

* First President – W.C. Banerjee. * First Women President – Annie Besant (1917 Calcutta). 

* First Indian Women President – Sarojini Naidu.(1925, Kanpur)

* First English President – George Yule * First Muslim President – Badaruddin Tayabji

* Women President – Annie Besant (1917), Sarojini Naidu (1925) and Nalin Sengupta. 

* Thrice President (Maximum times)– Dadabhi Naoroji (1886,1863,1906), J.L. Nehru (1929, 1936, 1937).

* First Session to hold in village – 1937 (Fazipur). * First split of congress – 1907 (Surat). * First – Joint Session of Congress and Muslim League Lucknow (1916).

* Word Swaraj was first used from congress platform (1906) Calcutta.

* Only session presided over by Gandhi – Belgaon (1924).

* Complete Independence was demand for the first time (1929), Lahore.

* For the first time NationalSong was sung in the Calcutta Session (1896) of INC. i.e., Vande Mataram * For the first time National Anthem (Jana Gana Mana ) Was sung in Calcutta session (1911) of INC.

* Maulana Abul Kalam Azadwas the youngest president of Inc.

* The first session of congress (Bomaby 1885) was attended by 72 representatives.During the fourth session of INC (1888,Allahabad) emphasized was given on formation of its constitution. * Nagpur Session (1891) the word ‘National’ was added to Congress. * Poona session(1895), representatives second time discussed on the formation of its constitution.

* Calcutta session of 1906, its president for the first time used ‘ Swaraj’ in his speech. * In Lucknow Session of Congress (1916) the two factions of congress (extremists and Moderates) reunited.

* During Ahmedabad Session of INC (1921) , C. R. Das was elected its President but Azamal Khan presided over the session because C.R. Das was in prison.

* During Gaya Session (1922 ) differences arose over the issue of council entry. C.R.Das and Motilal Nehru organized Swaraj Party in 1922.

* During its Delhi session (1923) INC decided to establish All India Khadi Borad.

* Gandhi presided over only Belgaon session (1924) of INC * During this session knowledge of weaving wasfixed as minimum qualification for its members. Gandhi decide toset up ‘All India Charkha Association declared 1926’ as year of keeping silent.

* During Guwahati session of Inc (1926) wearing Khadi was made compulsory for its workers.

* During Madras session of INC 91927), proposals for independence and to boycott Simon commission were passed. Gandhi did not participate.

* During Karachi Session (1931) Fundamentals Rights and Economic PolicyProposals Passed.

* During its 1932 and 1933session government had declared it an illegal organization.

* During Lucknow Session (1936), J.L. Nehru explainedsocialism for the first time.* During Fazipur Session (1937) congress decided to take part in election of 1937. * 1938 session of congress held in a village Haripura.Netaji elected unopposed. * In Ramgarh Session (1904) decisions onIndividual Satyagarha.

* The word “Congress” Or INC was taken from the history of USA which means group of people.

* During Tripuri Session Of INC (1939) Subhash Chandra Bose Defeated Pattabhi Sitaramaya(Gandhi’s candidate in presidential election) but later resigned and Rajendra Prasad became its president.* During Calcutta Session (1928) first All India Youth congress was established.

Important Points of General Science for SSC Exams

01 The theory of relativity was propounded by Albert Einstein

02 The principal metal used in manufacturing steel is Iron.

03 An alimeter is used for measuring Altitude

04 Oology is the study of Birds eggs

05 Radioactivity was discovered by Henry Bacquerel

06 The metal used in storage batteries is Lead.

07 The instrument used to measure the relative humidity of air is Hygrometer.

08 Barometer was invented by Torricelli

09 The unit of power is Watt.

10 Radium was discovered by Marie and Pierrie Curie.

11 The existence of isotopes was discovered by Frederick Soddy

12 Dynamo was invented by Michael Faraday

13 The nuclear reactor was invented by Enrico Ferni.

14 The law of gravitation was propounded by Sir Isaac Newton.

15 Crescograph was invented by J.C.Bose.

16 Crescograph is used to measure the Rate of growth of a plant.

17 Galileo's first scientific discovery was Pendulum.

18 Microscope was invented by Aaton Van Leewen Hock

19 The scientist who is known as father of modern biology is Aristotle

20 The first person to see a cell under microscope was Robert Hooke.

21 The smallest flowering plant is Worffia.

22 The four blood groups were discovered by Karl Landsteiner.

23 Sodium was discovered by Sir Humphry Davy.

24 The atomic number of oxygen is Eight.

25 The basic building blocks of proteins are Amino acids.

26 The botanical name of the cotton plant is Gossipium Hirsutum.

27 An Electroscope is used to Detect charges on a body.

28 The unit of loudness is Phon.

29 An ammeter is used to measure Electric current.

30 Plant that eat insects are called Insectivorous plants.

Smart Multiplication Tips for Banking/IBPS & SSC Exams

How To Multiply Any number with 11

How To Multiply Any number with 11 in a Smarter way .... Friends i will explain this method with an example ....

Ex 1: Multiply 12 * 11 ? ( First Take a Simple Example )

Step 1 : Place 1 _ 2

Step 2 : now add 1 and 2 ===== >>>> 1+2 = 3 Place that 3

in between 1 and 2 thant is the answer . ie 132 is the answer .

now multiply 13 * 11 ?

1_ 3

1+3 = 4 ===== > 143 is the answer .

Exception : Multiply 19 * 11 ??

Step 1 is same as the above 1 _ 9

Step 2 : now add 1 and 9 ==== >>>> 9 + 1 = 10 here we

have two digits coming from right place take 1 as carry to the next

letter ie 1109 ====> now take one carry to the next letter then it

will become 209 ... that is the answer ....

How to find squares up to 50

Friends to use this method we should learn squares up to 25.

Ex : Find 36 ^ 2 ??

Step 1 : Make a Bench Mark on 25 . now subtract 25 from 25

===>>>> 36 - 25 = 9

Step 2 : multiply 9 with 100

====>>>> 9 * 100 = 900 Keep this a side .

step 3 : Now Subtract 9 from 25

=====>>>> 25 - 9 = 16 .

step 4 : we know 16 square is 256

step 5 ; add 900 with 256

900 + 256 = 1156 is the answer .....

Multiplication of numbers with a series of "9"

[

So many people thinks that Multiplication of any number with digits

of "9" is difficult but this is the very easy .... i will explain some

methods by taking some examples ... ok ...

Ex : 568 * 999

Step 1 : subtract 1 from 568 .... then it will become 567 it is the right part of the answer ....

step 2 : and now subtract each number in "567" from the digit "9" ie

if we subtract 5 from 9 we get .... if we subtract 6 from "9" we get 3

..... if we subtract 7 from 9 we get 2 ...... 9 - 5 = 4

9 - 6 = 3

9 - 7 = 2

432 is the right part of the answer .....

step 3 : so our final answer is 567432

Ex 2: 6784 * 9999

Step 1 : subtract 1 from 6784 ... it will become 6783 it is right part of the answer ....

step 2 : and now subtract every number in 6783 from 9 ...we will get 3216 it is the right part of the answer ......

so our final answer is 97833216

Ex : 45 * 999 ?

Step 1 : we can one zero in front of 45 it will not affect the value

.... now subtract 1 from 45 .... it will become 44 .... it is the left

part of the answer ....

step 2 : subtract every number in 045 with 9 ... we will get 955 .... it is the right part of the answer ......

so our final answer is .... 44955

Numbers which are nearer to 10 , 100 , 1000 , 1000

numbers which are nearer to 10 , 100 , 1000 , 10000 ......etc

i will explain this method with an example

Ex: Find 98^2 ?

Step 1 : we know 98 is 2 less than 100

write 98 -------- 2

98----------2

------------------------------

Step 2 : we now 2 digit numbers square ( greater than 31 ) will have four digits

and now we know 2 square is 4 write it as "04" which is the right part of the answer

Step 3 : this is the very imp step subtract 2 from 98 we will get 96

which is the left part of the answer .... so the final answer is 9604

short cut for square of a no ends with 5

25 X 25 = 625

2x(2+1)=2x3 = 6

so left most digit is 6

and add 25 with that

95 X 95 = 9025

9x10=90 add 25 with that

105 X 105 = try step by step

add 1 to 10 i.e= 11

multiply 10 by 11 i.e= 110

5X5=25

now 11025 ans

try this 1005 X 1005 = 1010025

85 X 85 = 7225

Shortcuts for square (xy)²

Shortcuts for square (xy)²

=============

1st Step: Y²

2nd Step: (y+y) ×x or (x+x) ×y [Add carryover if any]

3rd step: (x) ² [Add carryover if any]

Note: consider from right to left

Example number 1 :

==============

12²

2² = 4

(2+2)×1 or (1+1)×2 = 4

1² = 1

12²= 144 (from right to left)

Example number 2 :

==============

28²

8²= 64 (take 4) = 4

(2+2)×8 = 32+6 =38 (take 8) =8 { because carryover was 6}

2²=4+3=7 =7 {because carryover was 3}

28²=784 (from right to left)

Example numer 3: 19

=================

19^2 = 361

9^2 = 81 (take 1) = 1

(1+1)x9 =18 + 8 = 26 = 6 (because carry was 8)

1^2 = 1 + 2 = 3 ( because carry was 2)

Hence ans is 19^2 = 361

square when the number has only 9 :

when the number has only 9 :

9²=81

99²=9801

999²=998001

9999²=99980001

99999²=9999800001

……………………............

…………..........................

count the number of 9 s ...

put number of 9's one less than the count...

and put a digit 8 ...

and then put one less than count number of zeros - 0 s

and the digit 1 with that.

square when the number has only 1 :

1²=1

11²=121

111²=12321

1111²=1234321

11111²=123454321

111111²=12345654321

………………………...............

count the no of 1 's in the given number

put value of count in middle of the answer

add numbers from middle to left most and to right most by decresing value by one until you get the number one ..

ie...1