Banking Awareness For Upcoming Bank & All Competitive Exams 2014

1. SBIePay: SBI becomes first Indian bank to have own payments aggregator.

State Bank of India (SBI) chairperson Arundhati Bhattacharya launched its online electronic payments aggregator service – ‘SBIePay’ – at its corporate centre, Mumbai on March 13, 2014 in the presence of its top management.

She said the possibility for other bank customers to use the facility would ensure more e-commerce activity and also help banks increase usage of alternate channels.

The payment intermediary, which would act as an aggregator to facilitate payments to multiple merchants from different bank accounts, would make SBI the first lender in the country to have a payment aggregator of its own in a space dominated by private players like Billdesk and CCAvenues.

Existing players have targeted specific merchant categories and created their own niche segments, but SBI’s service called ‘SBIePay’ plans to target newer spaces, especially government bodies’ payments, SBI sources said.

“SBIepay aspires to bring in additional payment modes, new merchant categories, with a special focus on government merchants like central, state departments and municipal corporations,” the source said.

In the next three years, it aims to become a “dominant player” in the aggregator space by being a one-stop solution for processing all online payment modes, sources said.

It would provide business information and analytics to merchants as well as banks for all transactions as an add on feature and is already in talks with 40 banks for tie-ups, sources said.

Between 2008 and 2012, electronic payments grew at 32 per cent per annum and have touched Rs 47,349 crore, and added that online travel bookings as well as online retail sales are the two major segments.

At present, debit card and Internet banking form around 45 per cent of transactions, while 43 per cent come from credit cards.

The government space, which the SBI targets, currently does not have any online mode of payment at present and operates through authorised bank branches, collection centres and drafts.

2. IBA wants free use of other-bank ATMs to end in metros.

Indian Banks Association (IBA) on March 14, 2014 said it has requested the Reserve Bank of India (RBI) to allow banks to charge customers in the metros to pay for accessing Automated Teller Machines (ATMs) of other banks but continue with the current cap of five free transactions a month for rural customers.

“We have made our recommendations to the RBI that at least in the metros, the current five free usage of other bank ATMs be withdrawn so that every transaction on other bank ATM is chargeable. At the same time, the present set up be continued in rural areas,” chief executive of IBA Mr. MV Tanksale said.

The issue of charging customers for ATM usage has become into a very vexed one, ever since banks were asked by state governments to place armed guards at all the ATMs after a brutal attack on a customer in Bangalore last November.

According to banks, the overheads will make operations of ATMs unfeasible and hence, they have been struggling to come up with a solution for over three months now, without much of success.

The IBA says banks are losing Rs 400 crore a month because of the excess security requirements at 1.4 lakh ATMs.

A slew of measures, including raising the inter-bank charges and limiting the number of all free transactions at five per month, have been mooted.

Currently, a customer can enjoy unlimited free transactions at his own bank’s ATMs and is allowed five free transactions a month in other banks’ machines.

Irrespective of it being a free transaction for the customer or not, a bank has to pay the other a fee of around Rs 15 for every transaction done at the other bank’s ATM.

Meanwhile, when asked if banks have written to the Reserve Bank to extend the mark to market loss amortization by two more quarters, Tanksale said replied in the affirmative but did not confirm the time period for which the relief has been sought.

3. Wholesale Price Index (WPI): Wholesale Inflation dips to 4.68% on lower food, fuel prices.

India’s wholesale price-based inflation eased to a nine-month low in February as food and fuel prices moderated, raising expectations that the Reserve Bank of India (RBI) would leave interest rates unchanged at its policy review next month.

The wholesale price index (WPI), long regarded as India’s main inflation measure, rose 4.68 percent last month, data showed on Friday, compared with a 4.99 percent jump forecast by economists in a Reuters poll.

A 10 percent drop in wholesale vegetable prices from January helped overall inflation ease for the third straight month.

Friday’s data comes on the heels of a faster-than-expected slowdown in consumer inflation, which eased for a third straight month to a 25-month low of 8.10 percent in February.

4. Exim Bank extends $90 mn line of credit to Republic of Congo.

Export-Import Bank of India (EXIM Bank) has, at the behest of the Government of India, extended a Line of Credit of $89.90 million to the Government of Republic of Congo, for development of transportation system in the Republic of Congo.

Under the line of credit, Exim Bank will reimburse 100 per cent of contract value to the Indian exporters, upfront upon the shipment of equipment and goods/ provision of services.

The Agreement was signed in New Delhi, India by Yaduvendra Mathur, Chairman & Managing Director, Exim Bank and Félix NGOMA, Ambassador of the Republic of Congo in India. This is the second line of credit to the Government of the Republic of Congo.

5. Windows XP running ATMs to put additional financial burden on banks.

Banks around the world, consumed with meeting more stringent capital regulations, will miss a deadline to upgrade outdated software for automated teller machines (ATMs) and face additional costs to Microsoft to keep them secure.

The U.S. software company first warned that it was planning to end support for Windows XP in 2007, but only one-third of the world’s 2.2 million ATMs which use the system will have been upgraded to a new platform, such as Windows 7 by the April deadline, according to NCR, one of the biggest ATM makers.

To ensure the machines are protected against viruses and hackers many banks have agreed deals with Microsoft to continue supporting their ATMs until they are upgraded, extra costs and negotiations that were avoidable but are now likely to be a distraction for bank executives.

“There are certainly large enterprise customers who haven’t finished their migrations yet and are purchasing custom support,” a spokesman for Microsoft said, declining to name those customers or to quantify the extra revenue it is earning.

“The cost will depend on both the specific needs of the customer and what support they already have in place, so it’s different for every customer.”

Britain’s five biggest banks – Lloyds Banking Group, Royal Bank of Scotland, HSBC, Barclays and Santander UK – either have, or are in the process of negotiating, extended support contracts with Microsoft.

According to Sridhar Athreya, a London-based head of financial services advisory at technology firm SunGard Consulting, the cost of extending support and upgrading to a new platform for each of Britain’s main banks would be in the region of 50 to 60 million pounds.

Athreya said banks have left it late to upgrade systems after being overwhelmed by new regulatory demands in the wake of the 2007-08 financial crisis.

“They were probably not very serious about the directive that came in from Microsoft. There’s a lot of change going on at these banks at this moment in time and they would have seen Windows XP as one more change,” he said.

Windows XP currently supports around 95 percent of the world’s ATMs.

About 440,000 – or one-fifth of the world’s ATMs – are located in the United States and many of the banks operating them will still be running their ATMs with Windows XP for a while after the April 8 deadline, said Doug Johnson, vice president for risk management policy at the American Bankers Association.

“One thing in our favour is that XP is battle-hardened,” Johnson said. “People will benefit from years of fine-tuning of XP…It has been through wars.”

Real NICL AO Interview Experience (IT) Held On 15-03-2014

Name : Ajeet Kumar

Interview Date : 15th March 14

Interview Time : 10 AM Sharp

Interview Location : New Delhi

There are four members in the panel. .

One lady and 3 gentlemen…all are of age 45+..
Theyare very good and cooperative.

Firstly they asked me to be relaxed. .

One of them started from My Introduction. .
They asked about my Family, Siblings and what they do…

Later they asked me about my qualification and about the year gap in professional course. .

After that the Male member asked me questions about my technical background (IT) …
Area of the interests. .
Starting from network. .
Routers hub gateway and normal froms…
Hash algorithm to use and how to implement. ?
About what is algorithm. ?

…..3rd panel member. …. Female
Asked questions about Current Affairs. ..
Wekileaks. .What it does.. Wo is the MD/Ceo?
Aadhaar card CEO/Chairman. ?
Missing malesia plane mystery. . Where was the location. ?

……4th member …….Male (he was the oldest member in the pannel)
Tell me about ur district. ?
Have ever used RTI GOVTERNMENT facility. ?
What is how it implement. ?
How much cost u will pay for it…

My interview went for approximately 25 minutes. .. Hope my experience will help you all. Good Luck :)

SSC Recruitment of Police, CAPFs & Assistant Sub-Inspector in CISF Examination, 2014

Staff Selection Commission (SSC) Recruitment of Sub-Inspector in Delhi Police, CAPFs and Assistant Sub-Inspector in CISF Exam 2014 | SSC – SI in Delhi Police, CAPFs & ASI in CISF Exam 2014 | SSC SI ASI Recruitment 2014 Exam | SSC SI in Delhi Police, CAPFs and ASI in CISF Exam 2014 | SSC CPO 2014 Notification SI in Delhi Police, CAPFs & ASI in CISF Online Application Form

Staff Selection Commission will hold an All India Examination for recruitment to the post of Sub-Inspectors in Delhi Police(DP) & Central Armed Police Forces (CAPFs) and Assistant Sub-Inspectors in Central Industrial Security Force (CISF). Graduation from a recognized University or equivalent is the minimum educational qualification. The Examination will comprise of Written Examination in two phases, Physical Endurance Test, Medical Examination and Interview/personality test. Total number of vacancies are 2892.

Date of Exam: 22-06-2014(Paper-I) & 21-09-2014(Paper-II)
Closing Date of Applications: 11.4.2014 ( upto 5.00 PM)

FEE: RUPEES ONE HUNDRED ONLY(Rs 100 ) payable through CRF Stamp in case of Off-line or SBI Challan or on-line payment through State Bank of India for on-line applications. Fee is exempted for all Women candidates and candidates belonging to Scheduled Caste, Scheduled Tribe and Ex-Servicemen eligible for reservation as per Govt. orders.

AGE LIMITS for the post of Sub-Inspector in Delhi Police & CAPFs and Assistant Sub Inspector in CISF is 20-25 years.

Click here to view Full Details of SSC Recruitment of Police, CAPFs & Assistant Sub-Inspector in CISF Examination 2014 Notification/Advertisement

Click here to Apply Online.

SSC CGL 2014 Exams Postponed – Official Notification

Staff Selection Commission Combined Gradudate Level Examination 2014 Postponed

In view of the Genetal Elections announced by the Government during the month of April and May, 2014 and also the re-examination of Combined Gradudate Level Examination 2013 at seven Centres (Cities), all the Applicants are hereby informed that the Combined Gradudate Level Examination, 2014 stands postponed.

CGLE 2014 is tentatively schedules to be held towards the second half of the current year. The new date will be intimated in due course.

Click here to view SSC CGLE 2014 Examination Postponed Official Advertisement.

DMRC Recruitment Notification 2014

2014 Delhi Metro Rail Corporation (DMRC) Recruitment of Station Controller, Customer, Relation Assistant, Junior Engineer and Maintainer

Delhi Metro Rail Corporation (DMRC), a joint venture company with equity participation from Govt. of India and Govt. of National Capital Territory of Delhi has been entrusted with the responsibility of implementation of the rail based Mass Rapid Transit System for Delhi, NCR & other metros. Applications are invited from young, dynamic and motivated persons of Indian nationality for the various category of Non-Executive posts in DMRC.

Important dates:
Opening Date for Registration: March 11, 2014
Last Date for Submitting Online Application: April 15, 2014
Last date of Receipt of Printed Registration Slip along with Documents: April 22, 2014.

Click here to download Advertisement of Delhi Metro Rail Corporation (DMRC) Recruitment 2014

Click here to download Challan.

Click here to Apply Online.

2014 AP Postal Circle Recruitment of Multi Tasking Staff (MTS)

Department of Posts A.P.Circle Hyderabad, inviting applications from eligible applicants to fill up the MTS posts in various Postal /RMS Divisions and Administrative offices in Andhra Pradesh Postal Circle in the pay scale of Rs 5200-20200+ Grade Pay Rs 1800/-.

Age Limit: - 18 – 27 years as on last date fixed for registration of applications/booking of application through Speed Post/Registered Post i.e.07-04-2014.

Education qualifications: - Matriculation/SSC or ITI from recognized Board.

Date of the Examination: Details will be intimated through Hall permit/Admit Card.

Pattern and Syllabus for Examination:
I. The candidates shall be subjected to an Aptitude Test covering the
fol lowing subjects/topics.
Part ‘A’ – 25 marks – 25 questions on General knowledge – Multiple Choice Questions
Part ’B’ – 25 marks- 25 questions of Mathematics – Multiple Choice Questions
Part ‘C ’- Two segments
1) 25 marks – 25 questions – English language -Objective Type /Multiple Choice
2) 25 marks – 25 questions – Regional language-( Telugu )Objective type/ Multiple
Choice Questions
A minimum of 10 marks should be scored by GEN category candidates in each part of the above Aptitude Test. OBC candidates should score a minimum of 9 marks in each part and SC/ST candidates should score a minimum of 8 marks in each part. In addition to this, GEN category candidates have to score a minimum of 40% marks aggregate while OBC candidates have to score 37% and SC/ST candidates have to score 33% in aggregate.

Application Fee :
All Female Candidates (OC/OBC/SC/ST) – Rs. 100/-
Male Candidates (OC/OBC) – Rs. 500/-
Male Candidates (SC/ST) – Rs. 100/-
All PH Candidates Both Male and Female (OC/OBC/SC/ST) – Rs. 100/-
Exservicemen (OC/OBC) – Rs. 500/-
Exservicemen (SC/ST) – Rs. 100/-

Click here to download Notification/Advertisement of Andhra Pradesh Postal Circle Recruitment of MTS 2014.

Click here to Apply Online for AP Postal Recruitment 2014.

Latest Banking Awareness Updates For SSC CGL and Bank Exams 2014

1 PSU banks need 19,813 more ATMs by March-end to meet target.

Public Sector banks could set up only 14,855 Automated Teller Machines (ATMs) by December, leaving an uphill task of installing close to 20,000 more cash dispensing machines by March-end to achieve the target of at least one onsite ATM in every branch.

Pursuant to Budget 2013-14 announcement, PSU banks were required to ensure an onsite ATM in all 72,340 branches by the end of the current financial year.

In March 2013, only 37,672 branches had onsite ATMs, and thus 34,668 more were to be installed.
Till December 2013, the state-owned banks could set up only 14,855 ATMs, leaving 19,813 more ATMs that need to be installed in the remaining period.

As per the roll-out schedule of ATM installations, the state-owned banks should have set up 25,950 cash dispensing machines by December 2013 or about 75 per cent of the target.

SBI had put in place 2,266 ATMs till December and has to install 2,221 more by March, 2014, according to the progress report of ATMs installation at all branches of banks.

Allahabad Bank has set up 385 ATMs and is yet to install 2,033 more.

United Bank of India has to to set up 1,044 ATMs to meet the overall target of 1,342.

Bank of India, Indian Overseas Bank, Syndicate Bank and Punjab National Bank need to set up 1,319, 1,004, 1,560 and 1,408 ATMs, respectively.

However, Bank of Baroda, IDBI Bank and Vijaya Bank have to set up only 02, 32 and 39 ATMs, respectively to meet their targetS.

There 26 public sector banks, including country’s largest lender State Bank of India and its associates.

2. Andhra Bank CMD opens 2,000th branch at Lotos Landmark.

The Andhra Bank’s 2000th branch was inaugurated by its Chairman and Managing Director CVR Rajendran at Lotos Landmark, Kedareswarapet.

Speaking on the occasion, he said that the bank had 2,000 branches across the country, besides 1,723 ATMs.

He said that Andhra Bank’s total business stood at Rs 2,34,000 crore, with deposits of Rs 1,31,000 crore. Out of 2000 branches, 1,213 branches are in Andhra Pradesh, he said, adding that there are 754 branches in the Seemandhra region, while 459 branches are in the Telangana region.

3. Bharatiya Mahila Bank plans to open 55 more branches next fiscal.

Bharatiya Mahila Bank (BMB), the first all-woman bank and a new entrant in the sector, has embarked on a mission to open 55 additional branches pan-India by the next financial year.

“We are going to touch a mark of 25 branches by end of this financial year, while for the ensuing FY, the target is to have 55 additional branches in the two-tier and unbanked cities,” Chairperson and Managing Director (CMD) of BMB Ms. Usha Ananthasubramanian told media persons.

She was in Panaji, Goa to inaugurate the 14th branch of the bank. The first branch of the bank was inaugurated by prime minister Manmohan Singh in presence of UPA Chairperson Sonia Gandhi on November 19, 2013 in Mumbai.

The bank allows deposits from everyone, but lending will be predominantly for women, the CMD said adding that lending to women is safe as compared to men.

“Women don’t default much. Often there is peer group pressure on them,” she said, adding that unlike men, women don’t divert funds for other projects and this quality makes them safe borrowers.

The bank has already tied up with Tata Motors for vehicle financing. Besides, a deal has also been inked with Institute of Chartered Accountants (ICA) for girl students to study CA.

4. Rakesh Sethi is CMD of Allahabad Bank.

Allahabad Bank has a new Chairman & Managing Director (CMD) in Rakesh Sethi. Prior to this elevation, Sethi was an executive director at Punjab National Bank. The order appointing Sethi as CMD of Allahabad Bank was issued on Tuesday. He has now assumed charge at the helm of Allahabad Bank.


2014 APCOB Selected Candidates for Manager Scale I and Staff Assistants From Waiting List

The Andhra Pradesh State Cooperative Bank Ltd. (APCOB) has announced the list of candidates provisionally selected from wait-list for appointment to the post of manager scale-1 and Staff Assistants.

Click here to view the APCOB list of Selected candidates for Managers Scale 1.

Click here to view the APCOB list of Selected candidates for Staff Asst.