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By
RajeshGoyal*
(Rajesh Goyal joined as Management Trainee (also called PO) in a nationalized Bank in 1980 and worked forover 30 years in banking sector, and took VRS from the post of Assistant General Manager. He is also the
owner and editor of www.AllBankingSolutions.com - the most popular website among the serving andretired bankers )
Success Mantras - Part 3 for SBI Clerk ExamAugust 2014
(In This Part of the e-Magazine we have consolidated thematerial provided in Part 1 and Part 2 of Success Mantras
and added new questions based on the trends in SBI Clerk
Exams held on 19th/20th/26th / 27th July, 2014)
Most ImportantYou Must Download
(1)BestGurus Half Yearly Round-up (January to June2014) and memorized as much as possible.
(2) Read the study material given in this BestGuru SuccessMantra e-Magazine.
[Disclaimer:Weatbestguru.comhavetriedourbesttocompilethestudymaterial,whichis
beingprovidedabsolutelyFREEofcost, fromvariousauthenticsources. However,
candidates,incaseofdoubt,areadvisedtorecheckthesamefromtheirownsources. We
willnotberesponsibleforanymistake/omissionforwhatsoeverreasons]
http://www.bestguru.com/bestguru-half-year-g-k-round-january-june-2014/http://www.bestguru.com/bestguru-half-year-g-k-round-january-june-2014/http://www.bestguru.com/bestguru-half-year-g-k-round-january-june-2014/http://www.bestguru.com/bestguru-half-year-g-k-round-january-june-2014/8/11/2019 BestGuru Success Mantras 3 SBI Clerk Exam 2014
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OverviewofSBIClerkExam2014
(RepeatedfromPart1)
I
am
sure
you
must
have
gone
through
the
details
as
announced
in
the
SBI
Advertisement
for
this
exam.
You
will
be
appearing
in
the
SBI
clerk
exam
2014
in
nextfewdaysastheprocessofissuingcalllettershasalreadystarted. Thus,now
youhavelittleornotimeforpreparingfortheexamfromscratch. However,itis
necessarytorecollectsomefactsaboutthisexam.
State Bank of India Assistants in Clerical Cadre Selection Process is based on (a)
Online Objective type Test and (b) Personal Interview.
(A) Online Objective Type Test: Marks 200
Time Duration:2 Hrs 15 min. We give below the details of the subjects covered,
total questions and number of total marks for each subject for the forthcoming
SBI Clerk Exam 2014
Subject No of Questions Total Marks
1. General Awareness 40 40
2. General English 40 40
3. Quantitative Aptitude 40 40
4. Reasoning Ability 40
40
5. Marketing Aptitude / Computer
Knowledge40 40
Total 200 Qs 200 Marks
For Marketing Aptitude / Computer Knowledge, there are likely to be 20 questions
from each section;
The questions in objective tests, except for the test of General English, will
be bilingual i.e., English & Hindi. Each test will be of 40 marks. For theseobjective type tests of total 200 marks candidates will be given a composite
time of 2 Hours 15 minutes.
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There will be negative marks for wrong answers in the Objective tests.
1/4th mark will be deducted for each wrong answer. Candidates will have to
pass in each of the objective tests.
The passing marks in each of the tests will be decided by the Bank on the
basis of the performance of all the competing candidates taken together in
each test to a minimum required level. Candidates are also required to score
a minimum percentage marks on aggregate (For SC/ST/OBC/PWD/XS
candidates, 5% relaxation available thereon) for being considered for
interview. Minimum percentage marks on aggregate will be decided by the
bank.
Youmustkeepalltheaboverequirementsinmindwhileattemptingyourquestionpaper.Wegivebelowsomemoretipsforyourexam.
8/11/2019 BestGuru Success Mantras 3 SBI Clerk Exam 2014
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Tips
for
the
Exam:
(Repeated
from
Part
1)
TipsforBeforetheTest:
Youshouldensurethatyouarewellrestedthenightbeforethe
examandhaveasoundsleepIfpossible,dosomething
relaxing!
TipsforDuringtheTestPeriod
Berelaxedduringthetestperiodastoomuchtensionmay
preventyoufromthinkingclearly; Donotlookatthetimetoofrequentlyasthisreducesyourtime
fordoingtheactualtest
ForMultipleChoiceQuestion
ReadeachquestioncarefullyandchoosetheBESTanswerfrom
theoptionsgiven
Ifaquestionistakingaverylongtime,goontothenextquestionandcomebacktotheoneyoumissedattheendofthetime
Ifyouarenotsureoftheanswer,crossouttheoptionsyouknow
arewrongandthendecidebetweenwhatisleft
IfyouaredoingtheEnglishpaper,readthewholepassagebefore
youstartansweringthequestions
Makesureyoumarktheanswerscorrectlyintheonlinetest.
Ensurethatyouhaveclickedontherightanswer
TowardstheEndofthetest
Attheendofthetesttime,checkifyouhaveleftoutany
questionsandgivethematryagain
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Banking and Financial Awareness:-
You Must READ from the following Links
You must attempt the following exercises and know theiranswers :
Financial Awareness Exercise No. 002 on Whos Who of Financial Sector
Financial Awareness Exercise No. 001 on Current Policy Rates
Financial Awareness Exercise No. 704
Financial Awareness Exercise No. 703
Financial Awareness Exercise No. 702
Financial Awareness Exercise No. 701
You should check and memorize the latest policy Rates and Reserve Ratio
from RBI Websites or http://www.allbankingsolutions.com/DATA.htm
You should read the following study material andgrasp the concepts:
Financial Awareness Study Material Part 5
Financial Awareness Study Material Part 4
Financial Awareness Study Material Part 3
Financial Awareness Study Material Part 2
Financial Awareness Study Material Part 1
(A) http://www.bestguru.com/important-dates-days-
celebrated-observed/
(B) Must Read Last 15 Posts on www.bestguru.comwhich
covers the current news including Commonwealth
Games history; CWG 2014 and Performance of Indian
players
http://www.bestguru.com/latest-whos-who-quiz/http://www.bestguru.com/latest-policy-rates/http://www.bestguru.com/test-paper-financial-awareness-4/http://www.bestguru.com/test-paper-financial-awareness-3/http://www.bestguru.com/test-paper-financial-awareness-exercise-2/http://www.bestguru.com/606/http://www.allbankingsolutions.com/DATA.htmhttp://www.bestguru.com/financial-awareness-study-material-part-1-2/http://www.bestguru.com/financial-awareness-study-material-part-4/http://www.bestguru.com/financial-awareness-study-material-part-3/http://www.bestguru.com/financial-awareness-study-material-part-2/http://www.bestguru.com/financial-awareness-study-material-part-1/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/http://www.bestguru.com/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/financial-awareness-study-material-part-1/http://www.bestguru.com/financial-awareness-study-material-part-2/http://www.bestguru.com/financial-awareness-study-material-part-3/http://www.bestguru.com/financial-awareness-study-material-part-4/http://www.bestguru.com/financial-awareness-study-material-part-1-2/http://www.allbankingsolutions.com/DATA.htmhttp://www.bestguru.com/606/http://www.bestguru.com/test-paper-financial-awareness-exercise-2/http://www.bestguru.com/test-paper-financial-awareness-3/http://www.bestguru.com/test-paper-financial-awareness-4/http://www.bestguru.com/latest-policy-rates/http://www.bestguru.com/latest-whos-who-quiz/8/11/2019 BestGuru Success Mantras 3 SBI Clerk Exam 2014
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162 QUESTIONSANDANSWERSBASEDONMCQsOFSBICLERKEXAMHELDON
19TH/20TH/26TH/27THJULY,2014EXAMSExpectedQuestions/TopicsBased
onTheseTrendsandHowtoPrepareforThem
S.No. QuestionsAsked
Answers
Category of Qs Expected Questions Based onTrends
1 PC standsfor ?
PersonalComputer
2 Full form ofASCII ?
AmericanStandard Code forInformationInterchange
3 IBSA fullform ?
India, Brazil,South & Africa
4 What is fullform ofCAG?
Comptroller andAuditor General
5 What is thefull form ofNVRAM ?
Non VolatileRandom AcessMemory
6 What is thefull form ofCBS?
Core BankingSolutions
7 PC standsfor ?
PersonalComputer
8 What is thefull form ofECB ?
ExternalCommercialBorrowings
9 What is theFull form ofCD-R?
Compact Disc -Recordable
10 What is thefull form ofCSO?
Central StatisticalOrganisation
11 What is thefull form ofCD?
Compact Disc
12 What is thefull form ofCBS?
Core BankingSolution
13 What is thefull form ofMIS infinancialsector?
MarketingIntelligenceSystem
AbbreviationsThe trend indicates thatquestions onabbreviations are (a)Current Affairs (b)Computers.
Therefore, candidateshould memorize theabbreviations given in ourabove referred magazine
so that he is prepared toanswer the questionsasked about abbreviationsin News.
For computerabbreviations too youneed to memorize theabbreviations given at
www.BestGuru.com
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14 What is thefull form ofSWOT
Strength,Weakness,Opportunity,Threats
15 Whichaward isgiven to
LeanderPaes andRuskinBond?
Padma Bhushanaward
16 Who is therecipient of49thJnanpith
Award
Kedar Nath Singh
17 Who wasrecentlyhonoured
with theDadasahebPhalke
AcademyAward forBest Singer(Female)?
Sunidhi Chauhan
18 YorkUniversity,Canadagave awardto ?
Ratan Tata
Awards
We have covered theawards quitecomprehensively in theabove magazine,therefore, you need tostudy these carefully. Inthe exam held on 27th and
28th July, there appearsto be less focus on thisaspect, but this can not beignored
19 Which ofthefollowingactivities isnot done byRBI?
Trading incommodities
20 Which ofthefollowing isnot a bank?
IRDA
21 Recently
bankinglicense has
been issuedto whichcompany?
IDFC
Banking
The trend here indicatesthat questions on bankingare either based on thecurrent news relating to
banking sector or arebased on the basicconcepts which aneducated person issupposed to know.
For current banking news,please read our above
referred magazine. Forsome of the bankingconcepts, please read thestudy material given at theend of these questions.
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22 Whoamong thefollowing isRBI DeputyGovernor ?
URJIT PATEL
23 Which is
theRegulatory
AuthorityofCooperative banks &RRBs?
NABARD
24 Name thepresentChairman/Chairperson of SBI?
ARUNDATIBHATTACHARYA
25 How manylanguagesin Indiancurrency?
17
26 In shopsthe credit/Debit cardtransactions are donethrough
whichmachine?
POS
27 Which cardis issued byNPCI?
RuPay Card
28 Who issuestheMonetarypolicy inIndia?
RBI
29 Commercial papersissued in
what
multiples?
Rs.5 lakh ormultiples thereof
30 Commercial Paper isissued forhow manydays ?
A minimum of 7days and amaximum of up toone year from thedate of issue
You should also updateyourself with the newsuploaded at
www.bestguru.comin lastfew weeks.
In case you are preparingfor even higher exam, youshould start reading thematerial from
www.allbankingsolutions.com under the headingBanking Tutor
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31 . Indiancurrencynotes beara signatureof ?
RBI Governor
32 In which
year wasRBIestablished
?
1935
33 In whichyear wereBanksNationalization tookplace?
1969
34 Which toolis used by
RBI toadjustLiquidity inthe bankingsystem?
LAF (LiquidityAdjustment
Facility)
35 What is thevalidity of acheque?
3 months
36 Which isone of themajorfunctions
of RBI
Bankers Bank
37 Which ofthefollowing isrelated tofinancialinclusion?
BSBDA
38 Which is anegotiableinstrument?
Cheque
39 Whosesignaturesappear on 1Rupeecurrencynotes
Finance Secretary
40 T- Bill whattypeinstrument
Money marketinstruments
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41 Whoheaded theCommitteeonComprehensive
FinancialServices forSmallBusinessesand LowIncomeHouseholds?
Nachiket MorCommittee
42 Whoprovidesassistanceto small
industries
SIDBI
43 Name theHumanResourceMinister ?
Smitri Irani
44 Who is theChairmanof BhartiyaMahilaBank?
UshaAnanthasubramanium
45 Who is theauthor of
the bookMy Journey:Transforming Dreamsinto
Actions?
Former PresidentAPJ Abdul Kalam
46 Who is theauthor ofthe bookSahara :The Untold
Story ?
TamalBandyopadhyay
47 Casualvacancywritten by?
J K Rowling
48 Name thebook forwhich VijaySheshadri
3 Sections
BooksSee the chapter on booksand authors in the abovereferred magazine
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has wonPulitzerprize ?
49 What is the
Capital ofBhutan?
Thimphu
50 What is theCapital ofMynamar?
Naypyidaw
51 Capital ofBrazil?
Brasilia
52 Name theCapital of
Argentina?
Buenos Aires
53 Name theCapital ofCanada?
Ottawa
54 Name theCapital ofSweden?
Stockholm
Capital
These capitals have beenin news.
If possible try toremember as many capitalas possible from GK Bookor our website
www.BestGuru.com.
Some of the importantcapitals based on current
affairs are Ukraine, Libya,Turkey, Brazil, Russia,South Africa, Israel,
55 Which ofthefollowing isan Inputdevice?
Light pen
56 What is an
Operatingsystem ?
system software
57 Which ofthefollowing isrelated toEmail?
Attachment
58 Two peopleshould belogged insimultaneously for
what kindofsoftware?
Instant messaging
59 MS word isa type of?
ApplicationSoftware
60 Keyboardand ___ isan input
Mouse
Computer
Study the computermaterial available at our
websitewww.BestGuru.com whichcovers quitecomprehensively the
topics that are usuallyasked in such type ofexams. There areregularly questions oninput and output devices.Therefore, be clear what isan input and what is anoutput device.
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device
61 MagneticDisk is ?
Non Volatile
62 What is a
Linux ?
Operating system
63 Printer isan exampleof
Output device
64 Which ofthefollowing isanoperatingsystem?
WINDOWS 2003
65 What iswindow
vista ?
Operating System
66 Devicesthatattached tocomputeroutside ?
Peripheral devices
67 What is thename ofChineseCurrency?
Yuan
68 What is thecurrency of
Kuwait?
Kuwaiti Dinar
69 What is theCurrency of
Afghanistan ?
Afghani
70 Name theCurrency ofMalaysia?
Ringgit
71 Currency ofItaly
Euro
72 Iraqcurrency? Dinar
73 Which isthe officialCurrency ofIndonesia
Indonesian Rupiah
Currency
If possible try to
remember as manycurrencies as possiblefrom GK Book or our
websitewww.BestGuru.com.
Some of the importantcountries for whichcurrencies can be askedinclude Sri Lank,Bangladesh, Thailand,Russia, Japan, Brazil,
Bhutan, Libya, Ukraine
74 WorldAutism day?
2nd AprilDay
These should bememorized from theabove referred magazine
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75 World aidsdaycelebratedon ?
1st December
76 On whichday is Army
Flag Daycelebrated?
7th December
77 On whichdate isHumanRights Dayis observed?
10thDecember
78 WorldAutism day?
2nd April
79 World aidsdaycelebratedon ?
1st December
80 When isInternational Day forOld Personobserved
1st October
81 On whichday is
WorldTourismDaycelebrated?
27th September
82 When isPressFreedomDayobserved?
3rd May
of BestGuru and other GKbooks / websitewww.bestguru.com
http://www.bestguru.c
om/important-dates-
days-celebrated-
observed/
83 Definitionof Currentaccountdeficit?
A measurement ofa country's tradein which the valueof goods andservices it importsexceeds the valueof goods andservices it exports
Economics
http://www.bestguru.com/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/important-dates-days-celebrated-observed/http://www.bestguru.com/8/11/2019 BestGuru Success Mantras 3 SBI Clerk Exam 2014
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84 Which ofthefollowing isnot anindirecttax?
10% surcharge onincome
85 What areIntangibleassets?
An asset that is notphysical in nature.Corporateintellectualproperty (itemssuch as patents,trademarks,copyrights,
businessmethodologies),goodwill and
brand recognition
are allcommon intangible assets in today'smarketplace.
86 . Budget inwhicharticle ?
Article:112
87 Who is theWaterResource
Minister?
Uma Bharti
88 Who isthecurrentRoadTransport,HighwaysandShippingMinister ?
Nitin Gadakari
89 IndianOverseasminister?
Sushma Swaraj
90 Chemicalandfertilizercabinetminister?
Ananth Kumar
Ministers
Usually such questionswere not asked in earlieryears but in view of totally
cabinet, examiner hasasked questions on thistopic regularly.Therefore, we haveincluded this list in thismagazine itself.
Examiner is also askingquestions on theconstituencies ofimportant leaders whohave recently won Lok
Sabha elections. Someleaders whose Lok Sabhaconstituencies you should
be aware are : PM,Rajnath Singh, L K
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113 Name theMinister ofSocialJustice andEmpowerment?
Thawar ChandGehlot
120 Name theHealthMinister ofIndia
Dr. HarshVardhan
124 Who is theUnionCabinetMinister ofMicro,Small andMediumEnterprises
?
Kalraj Mishra
Advani, Murli ManoharJoshi, Sonia Gandhi,Rahul Gandhi, RaviShankar Prasad, KalrajMishra,
91 Malaysia,truly Asiarelates to
what?
Tourism campaignof Malaysia
92 Who is thefirst
womandirector ofRelianceIndustries?
Nita Ambani
93 RIL &
Network 18Deal has
been struckfor whatamount (incrores)?
4000 Crores
94 Amul hasplans to setup Dairy
worth 200cr in whichcity?
Varanasi
95 Why didIndia banthe importof MilkProductsfrom China
India banned milkproducts formChina : due topresence ofmelamine, usedfor making plasticsand fertilizer
News
Read newspaperregularly. We have triedto cover the news items
which we felt will beimportant from exampoint of view. However,the questions are askedfrom much wider field andthus you may refer tosome other magazines too,if you get time for the
same.
Regularly read theupdates given in
www.bestguru.com
http://www.bestguru.com/http://www.bestguru.com/8/11/2019 BestGuru Success Mantras 3 SBI Clerk Exam 2014
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96 Nevia firstplant inIndia ?
Sanand, Gujarat
97 OPEC hashow much% of total
oil ?
81%
98 Countryhaving leastglobalpeace index?
Syria
99 Headquarter ofInfosys?
Bangalore
100 Worldeconomicforum held
in?
Abuja (Nigeria)
101 In whichstate Solarthermalpowerplant wasinstalledrecently ?
Rajasthan
102 Whichsouth eastorganisation has 10members?
ASEAN
103 SachinTendulkarcoins weresponsored
by whichcompany?
East IndiaCompany
104 RecentlyNavaratnastatus givento?
National BuildingConstructionCorporation &Engineers IndiaLtd (EIL)
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105 In LoKSabhaelections ifanycandidate
win two
seats (likeour pm) soin whatduration oftime he hasto leave oneseat ?
14 days
106 Flipkartacquire
whichonlineshop?
Myntra.com
107 Amul canbe relatedto whichrevolution?
White revolution
108 Bestranked IITamongBRICS topuniversities2014?
IIT Delhi
109 Beiji oil
refinarylocated in ?
Iraq
110 Tata groupjoinedwhichairlines?
Air Asia
111 Name theplace
whererecentlyHindustanMotor car
plant wasshutdown?
Uttarpara plant(West Bengal)
112 Which statedontshares the
border withTelangana?
Jharkhand
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114 Name theplace
whererecentlyPMinaugurate
d a hydropowerplant in J &K?
Uri (J & K)
115 Telanganais -----Stateof India?
29th state of India
116 Whichcountryfirst of allintroducedplastic
notes?
Australia
117 A.RRahman isnow astreet namein whichcountry?
Canada
118 Japan hassea-conflict
with whichcountry
China
119 Worlds
highestrailwaytunnel?
China (16.3-km-
long tunnel linksGansu Provinceand Xinjiangprovinces. )
121 Whichorganisation is forRural
womenentrepreneurs ?
FIWE (Federationof WomenEntrepreneurs)
122 Which of
thefollowing isnot trueaboutTelangna?
Is divided on the
linguistic basis.
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123 Who isChairmanof theCauvery
WaterDisputes
Tribunal
Justice B SChauhan
125 Kaveririver waterdispute
betweenwhichstates?
Karnataka & TamilNadu
126 CaproGroup has
won theInternational Business
Year of theaward isowned by
Lord Swaraj Paul
127 Where willbe the nextCommonwealth HeadsofGovernment Meeting2015,(CHOGM 2015)
be held?
Malta
128 Whoinaugarated BhartiyaMahilaBank ?
Manmohan Singh
129 Where isCRISIL HQ?
Mumbai
130 Which istheConstituen
cy of NitinGadkari?
Nagpur
131 What willbe thevenue for24-ASEANsummit to
be held in
Nay Pyi Taw
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November,2014?
132 Who is thecurrentFood &Consumer
Affairsminister?
Ram Vilas Paswan
133 Name the150 kmmissilelaunched
by DRDOrecently?
Vidisha
134 Azlan Shahwho diedrecently isa ?
Hockey Player
135 Head of SITCommittee?
MB Shah
136 Azlan Shahwho diedrecently isa ?
Hockey Player
Persons inNews
137 Vijay
HazareTrophy isassociated
with whichsport?
CRICKET
138 FIBA isassociated
with whichsport ?
Basketball
139 FIFA Worldcup-can betermed as
what kindofmarketing?
Event
140 WIMBLEDONchampionship isassociated
LAWN TENNIS
Sports
These questions can be
divided into two parts : (a)Traditional Sports GK,
which you shouldmemorize from our
website bestguru.com orsome other good GK Book; (b) Sports News :
The focus has been onFIFA World Cup. Be readyfor questions on FIFA
world cup final results
and special awards givento certain top rankedfootballers [These areavailable in the abovereferred magazine}
Now focus is also likely toshift to CWG 2014 games
being held in Glosgow.
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with whichsports?
141 FIBA is
associatedwith whichsport ?
Basketball
142 Who isRichestPlayer inFIFA ?
Cristiano Ronaldo
143 Who didhat trickgoal in foot
ball worldcup?
Thomas Muller(Germany) scorefirst hattrick of theFIFA World CupTournament
144 FIFA 2014MascotName?
Fuleco (The nameFuleco is aportmanteau ofthe words"Futebol"("Football") and"Ecologia"("Ecology").)
145 Who win 3medals in
ISSF worldcup inMunich?
Jitu Rai
146 Ashestrophy isplayed
betweenwhich twocountries?
Australia andEngland
147 Gillette Cupisassociated
with whichsports?
Cricket
148 In whichcity thenextCommonwealth Gamesof 2018 will
be held ?
Gold Coast City,Queensland,
Australia
Atwww.bestguru.comwehave covered these gamesquite in depth. There arefour articles which youmust read from the latestposts.
http://www.bestguru.com/http://www.bestguru.com/8/11/2019 BestGuru Success Mantras 3 SBI Clerk Exam 2014
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149 Who is thewinner ofAustralianGrandPrix?
Nico Rosberg
150 Night
blindness iscaused duetodeficiencyof which
Vitamin?
Vitamin A
151 Name thestate whichhas beenhighestruralpopulation
as perCensus2011 ?
Uttar Pradesh
152 A SchemenamedRajivGandhiScheme forEmpowerment of
AdolescentGirls is also
known as?
SABLA
153 Kanyakumariformerlyknown as ?
Cape Comorin
154 Salarjungmuseumlocated in
which state?
Hyderabad,Telangana
155 Which statehas highest
urbanpopulationin india?
Maharashtra
156 Whichorganization collectsand publishfinancial
National SampleSurveyOrganisation
Traditional GK
This is a vast subject and
nobody can predictanything from this topic.Therefore, do not wastetoo much time andattempt your questions
based on what you havestudied upto now.
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data?
157 Study ofkidneydiseasescomesunder
whichmedical
branch?
Nephrology
158 WhichIndia statehas thehighest per
capita milkavailability?
Punjab
159 Camel isthe officialanimal of
whichstate?
Rajasthan
160 Whichdevice isused tomeasure
bloodpressure ?
Sphygmomanometer
161 Nilgiris islocated in
whichstate?
Tamil Nadu
162 Name theindigenousl
y DRDOdevelopedfighterplane ?
Tejas
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CERTIFICATE OF DEPOSIT
These are type of Usance Promissory note and can be issued inDematerialisation form only. The major features are:
Who can issue All Scheduled commercial banks except RRBs and All IndiaFinancial Institutions
CRR/SLR Applicable on the issue price in case of banksInvestors Individuals (other than minors), corporations, companies,
trusts, funds, associations etc.Maturity Min: 7 days Max: 12 Months (in case of FIs minimum 1 year
and maximum 3 years).Amount Min: Rs. 1 lac, beyond which in multiple of Rs. LacIntt. Rate Market related, Fixed or floating.
COMMERCIAL PAPER
Commercial Paper (CP) is a short term money market instrumentand is issued as a usance promissory note (unsecured). CP areprivately placed. CP are issued at a discount to face value as may bedetermined by the issuer.
CPs enable the highly rated corporate borrowers to diversify theirrequirements of short-term borrowings. These instruments also provide anadditional instrument to investors for investment opportunity. Now,primary dealers and FI are also permitted to issue CP to enable them tomeet their short-term funding requirements for their operations.
Who can issue
CommercialPaper (CP)
Companies, primary dealers (PDs) and all-India financial
institutions (FIs). (for PDs/FIs, no eligibility criteriaexcept that their borrowing should be within their overall
borrowing limit).
Maturity Minimum 7 days & maximum upto one year.
Denominations Rs.5 lakh or multiples thereof.
Investors in CP Individuals, banking companies, other corporate bodiesregistered or incorporated in India and unincorporated
bodies, Non-Resident Indians and Foreign Institutional
Investors (for FIIs within the limits set for theirinvestments by SEBI.
Mode ofIssuance:
CP is a promissory note and can be issued through any ofthe depositories approved by and registered with SEBI.
Wef 01.07.2001 PDs/FIs/Banks shall hold CPs in dematform only.
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NON-CONVERTIBLE DEBENTURESNCD are debt instruments which are issued by a corporate (includingNBFCs).
EligibilityParameters
i. Minimum tangible net worth Rs. 4 crore, as per thelatest audited balance sheet.
ii. The borrowal account is classified as a StandardAsset by bank/s or institution/s.
RatingRequirement
Credit rating to be obtained from CRISIL, ICRA, CARE,FITCH Ratings India Pvt. Ltd or such other agenciesregistered with SEBI. The minimum credit shall be P-2 ofCRISIL or such equivalent rating by other agencies. Therating should be current and has fallen due for review.
Denomination: NCDs any be issued in denominations with a minimum ofRs. 5 lakh (face value) and in multiples of Rs.1 lakh.
Maturity (a) Min 90 days from the date of issue and maximum oneyear.
NON BANKING FINANCE COMPANIES (NBFCs):A company is considered to be an NBFC if (a) its financial assets are morethan 50% of its total assets (netted off by intangible assets) and (b) incomefrom financial assets are more than 50% of the gross income.Currently, RBI has classified NBFCs under 4 categories, viz., Asset FinanceCompanies, Loan companies, Investment Companies and InfrastructureFinance Companies (IFCs).
CREDIT RATINGCredit rating means an opinion of a credit rating agency on the futureability and legal obligations of the company being rated, to make timelypayment of principal and interest.Credit Rating Agencies International and National : At international leveltwo agencies namely Standard & Poors and Moodys are very prominentrating agency and in India, there are 5 agencies namely CRISIL, ICRA,CARE, Fitch Rating India and Brick Work Rating India which are engaged
in the credit business.
VENTURE CAPITALVenture capital is a source of funds used to finance new proposals/ideasinvolving new technology or products which are risky but with a potential ofhigh returns. It is a capital committed in the form of share-holding for theformation and setting up of a firm, specialized in new ideas or technologies.
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In other projects involving high risks and yet having strong potential of highprofitability. In India, the venture capital has largely been sponsored byfinancial institutions.
INITIAL PUBLIC OFFERING (IPO)
IPO means when the company has come to market with shares for the firsttime. Usually such shares are sold to public through one of the followingmodes : (a) one where the company and lead manager fix a price (called afixed price) and (b) one where the company and the lead manager stipulatea floor price or a price band and leave it to market forces, to determine thefinal prices (price discovery through book-building process).
Follow Up Public Offering (FPO)
FPO means the company is coming to market again i.e. after IPO and isseeking public to subscribe to its share again.
Debt marketDebentures, Bonds, Zero Coupon Bonds, Government Securities, TreasuryBills are part of the debt market.
INSIDER TRADINGInsider trading refers to the act of buying or selling of securities by a person
with access to privileged information (to which none else in the market hasaccess to), usually done with the motive of making profits or avoidinglosses.
Depository
A depository is an organization which holds securities of investors inelectronic form at the request of the investors through a registeredDepository Participant. At present two Depositories viz. National SecuritiesDepository Limited (NSDL) and Central Depository Services (i) Limited(CDSL) are registered with SEBI.
Dmat or dematerializationDmat or Dematerialization is a process under which the paper certificatesof an investor are replaced by the company/registrar and an equivalentnumber of securities are credited in electronic form to the Dmat account ofthat investor.
APPLICATION SUPPORTED BY BLOCKED AMOUNT (ASBA)ASBA is a scheme introduced for the benefit of the investors wherein theapplicant applying for shares in the primary market authroises the bank to
block the application money in his bank account. Once the allotmentprocess for shares is complete and the basis of allotment is finalized. themoney is debited to the account based on the number of shares actuallyallotted to that applicant
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SENSEX
The full form of SENSEX is Sensitive Index. It is a market capitalizationweighted index of 30 stocks (shares) representing a sample of large, well-established and financially sound Indian companies.
BOOK BUILDINGBook building is the process to assess demand for a particular public issueat various prices, based on which the issue is priced and sold to theinvestors. A number of companies in the recent past including ONGC andICICI Bank, have taken this route to raise funds from the market.
Some More Links for Candidates Who Have Time and Energy to Study
What is Cheque Truncation System (CTS 2010) ? Know Everything Aboutthis new Scheme DICGC And Rules and Regulations for Insurance of Bank Deposits What are Basic Savings Bank Deposit Account? What is inflation, deflation, stagflation and hyperinflation What is Marginal Standing Facility ?
Bancassurance - What is Bancassurance ?
What is PAN ? Know Everything About Permanent Account Number
Latest CRR, SLR, Bank Rate, MSF, repo, reverse repo rate etc.
Define CRR, SLR, Bank Rate, Repo, Reverse Repo etc.?
http://www.allbankingsolutions.com/Banking-Tutor/Cheque-Truncation-System-CTS-2010.htmhttp://www.allbankingsolutions.com/Banking-Tutor/Cheque-Truncation-System-CTS-2010.htmhttp://www.allbankingsolutions.com/Banking-Tutor/DICGC-Deposit-Insurer-of-banks-India.htmhttp://www.allbankingsolutions.com/Banking-Tutor/BSBDA.htmhttp://www.allbankingsolutions.com/Banking-Tutor/Inflation.htmhttp://www.allbankingsolutions.com/Banking-Tutor/What-is-Marginal_Standing-Facility-or-What-is-MSF.shtmlhttp://www.allbankingsolutions.com/Banking-Tutor/bancassurance.shtmlhttp://www.allbankingsolutions.com/Personal-Finance/PAN-PERMANENT-ACCOUNT-NUMBER.shtmlhttp://www.allbankingsolutions.com/DATA.htmhttp://www.allbankingsolutions.com/CRR-SLR-BANK-RATE-REPO-REVERSE.HTMhttp://www.allbankingsolutions.com/CRR-SLR-BANK-RATE-REPO-REVERSE.HTMhttp://www.allbankingsolutions.com/DATA.htmhttp://www.allbankingsolutions.com/Personal-Finance/PAN-PERMANENT-ACCOUNT-NUMBER.shtmlhttp://www.allbankingsolutions.com/Banking-Tutor/bancassurance.shtmlhttp://www.allbankingsolutions.com/Banking-Tutor/What-is-Marginal_Standing-Facility-or-What-is-MSF.shtmlhttp://www.allbankingsolutions.com/Banking-Tutor/Inflation.htmhttp://www.allbankingsolutions.com/Banking-Tutor/BSBDA.htmhttp://www.allbankingsolutions.com/Banking-Tutor/DICGC-Deposit-Insurer-of-banks-India.htmhttp://www.allbankingsolutions.com/Banking-Tutor/Cheque-Truncation-System-CTS-2010.htmhttp://www.allbankingsolutions.com/Banking-Tutor/Cheque-Truncation-System-CTS-2010.htm8/11/2019 BestGuru Success Mantras 3 SBI Clerk Exam 2014
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BankingandEconomicNews(ApriltoJune2014forSBIClerk2014
ExamtobeheldinJuly/August2014)
Headline News in Brief
Fare and Freight Hike byRailways
Government announced a sharp hike of 14.2% inpassenger fares and 6.5% in freight tariffs, as envisagedin the interim budget. The decision o these hikes wastaken on February 10 by the UPA government with thecaveat that it would come into effect after the polls.
Institute for Economicsand peace (IEP) releasedits Global Peace Index forthe year 2014 which istopped by Iceland.
Instituted for Economics and Peace (IEP) in June, 2014released its Global Peace Index for the year 2014 whichit topped by Iceland. India has been ranked at 143rdposition out of 162 countries surveyed. According to theindex, the most peaceful countries are Iceland, Denmark
and New Zealand. Syria replaces Afghanistan as theworlds least peaceful country.
SLR Reduction byReserve Bank of India
The RBI reduced the SLR by 50 basis points 22.5 percentin its bi-monthly monetary policy statement while.
RBI asks banks to
disclose sector-wise loansfrom next fiscal
RBI has now asked banks to make sector wise
disclosure from 2014-15 onwards of their advances witha view to encourage them to actively manage exposure tovarious segments. This disclosure requirement is basedon recommendations of the Committee onComprehensive Financial Services for Small Businessesand Low Income Households under chairmanship of Dr.Nachiket Mor.
NABARD reducesrefinance rate by 20 bps
National Bank for Agriculture and Rural Development(NABARD) in June 2014 reduced the rate of interest by20 basis points (bps) on their long term refinance facilityto banks with an objective to promote investments in
agriculture. The new rates will be applicable from June2014. The rates of refinance will now be 9.50% for 5years and above and 9.70% for 3-5 years period, Banksavailing more than Rs. 500 crore in a single drawl willfurther be incentivized by 10 bps.
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RBI simplifies KYCnorms for opening ofbanks accounts
RBI in its directions to Banks has told thata bankaccount can be opened with just one address proof,which can be either permanent or local. The decision willhelp migrant workers and employees with transferablejobs who at present face problems in opening banks
accounts due to non availability of the documents ofaddress proof at new place.
RBI keeps key policy ratesunchanged in monetarypolicy review
In its Policy dated 3rdJune, RBI kept the Repo rateunchanged at 8 percent. However it reduced StatutoryLiquidity Ratio by 50 basis points to 22.5 percent(from 23 percent). This move is likely to infuse aroundRs. 40000 crore into the banking system.
RBI extends loan tenuresfor exporters to 10 years
RBI has allowed banks to provide loans with tenures ofup to 10 years to exporters to help them ensure capital
flows to fulfill long-term contracts. Existing norms allowbanks to give loans for up to one year only.
DLF gets ISOcertification
Indias largest real estate company DLF has become thecountrys first real estate developer to get ISO 9001 :2008 quality certification for development of housingand commercial projects.
ONGC begins drilling inPalar basin
The Oil and Natural Gas Corporation (ONGC) begandrilling of its first-ever well in the Palar basin atChinnapulitur village near Gummidipoondi, about 55km from Chennai. The basin, covering an area of 1800
sq km, was sandwiched between the two petroleum-bearing Krishna-Godavari and Cauvery basins.
Flipkart buys out Myntrafor $300 m
Indias biggest e-commerce company, Flipkart hasannounced to acquire fast growing online fashion retailerMyntra for $300 million.
Shome Panel submits itsfirst to Finance Ministry
The Tax Administration Reform Commission (TARC)headed by Parthasarathi Shome, submitted its firstreport. The panel has recommended a radical overhaulincluding abolition of the post of Revenue Secretary,empowerment of the apex direct and indirect taxesbodies, and allowing revenue service officers to specializeto help implement global best practices.
G7 summit held inBrussels
The leader of Canada, France, Germany, Italy, Japan,the United Kingdom, the United States, AND thePresident of the European Council and the President ofthe European Commission (G7) leaders) met in Brusselson 4-5 June, 2014. The event was originally planned to
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take place in the Black Sea resort city of Sochi, in a G8format (including Russia) However, Russia was expelledfrom the Group of Eight over disagreement over theUkraine and the political crisis there.
Lithuania ready to join
euro in 2015
The European Commission in June, 2014 announced
that Lithuania meets all the criteria for joining the euro,clearing the way for the Baltic state to become the 19thmember of the single currency in January, 2015.
PMs Bhutan visit At the invitation of King of Bhutan, Jigme KhesarNamgyel Wangchuck, Indian Prime Minister NarendraModi paid a State Visit to Bhutan in June, 2014. PrimeMinister addressed the Joint Sitting of the Parliament inthe Gyalyong Tshogkang in June 2014.
India becomes permanentmember of WashingtonAccord
India in June, 2014 became a permanent member of theWashington Accord, an elite international treaty onengineering studies that promotes the movement of
engineers across signatory countries that includes theUS, the UK and Australia.
Govt. constitutes SIT onBlack Money
In its first decision after taking charge, Prime MinisterNarendra Modis government announced the formationof a Special investigation Team (SIT) to probe blackmoney The decision was taken in the first meeting of theUnion Cabinet chaired by Prime Minister Modi.
Kudankulam becomesfirst nuclear plant togenerate 1000 MW power
The Unit 1 of the Kudankulam nuclear power plant(KNPP) reached full capacity generation of 1000 MW inJune 2014. This is the first nuclear power plant in the
country to touch 1000 MW of power generation. TheRusian-designed Voda Voda Energo Reactor (VVER)achieved the final milestone nearly eight months afterpower generated at the plant was connected to the grid.
Delhi becomes firstkerosene-free city in India
The Delhi Government in June 2014 announced that thenational capital has become the first Kerosene-free cityin the country. With the successful implementation ofDelhi; A Kerosene-Free City Scheme, 2012, nosubsidized Kerosene is being issued in the nationalcapital and the country can save up to Rs. 200 croresevery year.
India becomes worldsthird-largest economy
India emerged as the worlds third-largest economy in2011 in terms of purchasing power parity (PPP) frombeing the tenth largest in 2005, moving ahead of Japan,while the US remained the largest economy closelyfollowed by China, according to a World Bank reportedreleased on 29 April, 2014.
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Singapore replacedMauritius as top sourcesof FDI in India
Singapore has replaced Mauritius as the top sources offor foreign direct investment into India, according forabout 25 percent of FDI inflows in 2013-14. During thelast financial year, India attracted $5.98 billion in FDIfrom Singapore, whereas it was $4.85 billion from
Mauritius, according to the data of the Department ofIndustrial Policy and Promotion (DIPP).
RBI extends loan tenuresfor exporters to 10 years
The Reserve Bank of India in may, 2014 allowed bank toprovide loans tenures of up to 10 years to exporters toprovide loans tenures of up to 10 years to exporters tohelp them ensure capital flows to fulfill long-termcontracts. Existing norms capital flows to fulfill long-term contracts. Existing norms allow banks to give loansfor up to one years only. This facility is available withcertain conditions, including an interest rate limit of 200
basis points above the London interbank, offered rate(Libor), a global benchmark, Besides, exportersreceiving loans of $100 million or above, need to reportthe translation immediately to the RBI. As per theconditions, there should be irrevocable supply orders inplace.
Bhartiya Mahila Bankincluded in secondscheduled to RBI Act
Bhartiya Mahila Bank, the countrys first all-womenlender, was included in the second scheduled to the RBIAct in May, 2014. Post inclusion in the second scheduleor commercial bank category, the lender becomes
eligible for loans from RBI on bank rate and alsoacquires membership of clearing houses. Also, itprovides that any activity of the bank would notadversely affect the interests of depositors. In existencesince November 2013, the bank started with a seedcapital of Rs. 1,000 crore. One of the key objectives ofthe lender is to focus on the banking needs of women andpromote economic empowerment.
RBI asks banks to installdisabled-friendly ATMs
The Reserve Bank of India (RBI), for the benefit ofpersons with disabilities, made it mandatory in May,2014 for banks to install talking ATMs with Braillekeyboard. All new ATMs to be installed by commercialbanks from July 2014 onwards would provide audibleinstructions and Braille keyboard to customers.
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RBI to launch plasticnotes next year
Plastic currency notes would be launched in the countryin 2015 after field trials, reserve Bank of India (RBI)governor Raghuram Rajan said in May, 2014.
RBI allows minors above10 years to open operate
bank a/c
To boost financial inclusion, the Reserve Bank of India(RBI) on 7 May, 2014 said that banks were at liberty to
allows minors above 10 years to independently open andoperate bank accounts only along with a parent or aguardian. All children and teenagers below the age of 18are considered minors under current rules.
Minimum balance Penaltyto end
In its first bi-monthly monetary policy, RBI said thatinstead of levying penal charges for non-maintenance ofminimum balance in ordinary saving bank accounts,banks should limit services available on such accounts.Hence, while no penalty may be charged for nonmaintenance of minimum balances, the services availableto a customer including account statement, several ATMtransactions, cheque books issuance and number ofwithdrawals may be offered only on the payment of asum.
SBI sells stressed assets During the end of the last financial year, banks sold largepart of their non-performing assets (NPAs) to AssetReconstruction Companies (ARCs). The move, whichfollows a push from the Reserve Bank of India in thisregards, is expected to boost banks profitability for thequarter ended March 2014. State Bank of India (SBI),Indias largest lender sold Rs. 3500 cr. of NPAs.
Govt. sets cap for MSS The Govt. of India has authorized the Reserve Bank ofIndia (RBI) to issue debt instruments up to a ceiling ofRs. 50000 cr. under the market stabilization scheme(MSS) for the fiscal 2014-15. Last year to the ceiling waspegged at the same level.
SBI rolls out tab bankingservice
State Bank of India (SBI) launched Tablet (Tab)Banking service for opening savings bank accounts andgiving in-principle housing loan approval at thecustomers doorstep. Indias largest bank also launchede-KYC (Know your Customer) service. The three digital
banking services will be rolled out across the SBInetwork in a phased manner.
WB projects 5.7 % growthfor India
The World Bank, in its latest edition of South AsiaEconomic Focus projected an economic growth rate of5.7 percent in 2014-15 for India on the back of a morecompetitive exchange rate and many large investmentgoing forward.
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Big loan defaulters to faceRBIs audit
The reserve Bank of India (RBI) has taken upon itselfthe task of investigating bank frauds after a series ofinquiries by banks themselves in high-profile cases suchas those involving Decan Chronicle and KingfisherAirlines yielded very little. The Board of Financial
Supervision (BFS), chaired by RBI governor RaghuramRajan, has cleared a proposal that the central bnak willconduct an independent forensic audit of corporatedeclared fraudulent by banks. Independent audits,however, will be restricted to corporate that haveborrowed that have borrowed more than Rs. 1000 cr.The central bank will first try gen to the bottom of whatwent wrong with Decan Chronicle. The Hyderabad-based Decan Chronicle borrowed Rs. 4000 cr. From aconsortium of 18 lenders, who allege the companymisused the banning system by borrowing from one of
lenders without keeping others in the loop. Independentforensic audit is one of the many steps taken by the RBIto check the rise in stressed assets in the banking system.
The Reserve Bank of India granted in-principle banklicences to Infrastructure Development Finance co(IDFC) and microfinance lender Bandhan FinancialServices Ltd. ending a four-year process that left manyapplicants including Reliance Capital and L & T Financedisappointed. But the regulars promise of keeping awindow open permanently for bank licenses in future,rather than inviting applications at intervals, has kepttheir hopes alive. India Post should still get a license withthe regular saying it may issue one to the institutionswith the largest presence across the country afterdiscussions with the govt.
RBIs approval to IDFC,Bandhan
The announcement came after the Election Commissionallowed the central bank to go ahead with the move. Thein-principle approval is valid for 18 months during
which IDFC and Bandhan will have to meet all RBIrules to secure a permanent license and begin bankingactivities. Twenty-five applicants were in the fray to getnew licenses.
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RBI caps WMA limit forthe Government
RBI has set the upper limit for the WMA (Ways andMeans Advances) for the Central Government at Rs.35000 cr per week for the first half of the FY 2015. If thegovt. utilizes 75 percent of WMA limit, RBI may furtheractivate fresh floatation of market loans.
India takes the crown ofthird largest economyfrom Japan
As per the data of International ComparisonProgramme, India has overtaken Japan as the Worldsthird largest economy in 2011 in terms of PurchasingPower Parity (PPP). India holds 6.4% share of globalGDP on a PPP bases. US remains in first place with17.1% share, followed by China at 14.9%
Sun Pharma to acquire to
Ranbaxy
It has been reported that The Sun Pharmaceutical
Industries will acquire 100% of Ranbaxy Laboratories ina $ 4 billion..The combined entity will create the fifthlargest specialist generics company in the world and thelargest pharma company in India.
India tops GlobalRemittance Chart
As per world Bank report India received foreignexchange remittances worth $ 70 billion in 2013 from itsmigratory work force to retain the top spot in the world.China, Philippines, Mexico are other countries with largeremittances from abroad.
India and US agree onFATCA
India and the US have agreed to implement ForeignAccounts Tax Compliance Act (FATCA), a US law thattargets tax non-compliance by US taxpayers with foreignaccounts.
P J Nayak Committee'srecommednations
The RBI panel, headed by Ex-Chairman of Axis Bank,P.J. Nayak, in its report has recommended for dilutingthe government stake in public sector banks to below50%. As per this report Public Secotr Banks suffer fromseveral externally imposed constraints like dualregulation by the RBI and the Finance Ministry, and
external vigilance by agencies such as the CVC andCAG, among others. [However, in th budget, FinanceMinister has given hints that Government is not going tobring the government stake below 51%]
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NewPovertyLineby
Rangrajan
A panel headed by former Economic Advisor to PrimeMinister, C Rangrajan sets new poverty line at Rupees32 per day in Rural areas and Rupees 47 in Urbanareas. Rangarajan also said that the number of poor inIndia was higher in 2011-12 at 29.5 per cent of the
population, which means that three out of 10 persons arepoor. The Rangarajan Committee was set up last year toreview the Tendulkar Committee methodology forestimating poverty and clear the ambiguity over thenumber of poor in the country.
ICICIovertakesHDFCin
numberofemployees
Recently ICICI Bank has overtaken it HDFC in terms ofnumbers of employee as ICICI has added over 10,000employees in the last fiscal. Thus, now ICICI hasemerged as the biggest employer in the private bankingspace with more than 72,000 employees.
RatingsBasedonCustomer
Services
PerformanceratingsofBanksoncustomerserviceswillbeput
inpublicdomainbyBankingCodesStandardsBoardofIndia
(BCSBI).
SEBInormsfordebtsecurities SEBI has issued new norms for public issuance of debtsecurities under which such offers have to be ofminimum Rs. 100 crore, while issuers would need tomake additional disclosures and attain atleast 75 percent subscription.
ICICIcredit/debitcardwith
DMRC
ICICI Bank has launched co-branded card with DMRC.It can be your credit/debit card, and offers the benefit of10 per cent discount that the DMRC smart card offers.
IndialaunchesRuPay India recently launched its own payment gatewayRuPay, equivalent of Visa and Mastercard, which willwork on ATMs and merchant outlets it will helps inreducing cash transactions. Note: RuPay, works onthree channels ATMs, Point of Sales (POS) and onlinesales, is the seventh such payment gateway in the world.The RuPay platform developed by National PaymentsCorporation of india (NPCI) is being used by certain
banks like ICICI, State Bank of India, Punjab NationalBank, among others, for clearing and settlement. NowG.I wants that this should be used by all PS Banks
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Indiabecomesthirdlargest
economy
India became third largest economy in 2011 from 10thin2005: World Bank. India emerged as the worlds third-largest economy in 2011 from being the 10thlargest in2005, moving ahead of Japan, while the US remained thelatest economy closely followed by China, latest figures
have revealed.
SahooPanelreporton
depositoryreceiptsaccepted
Govt accepts Sahoo panel report on review of depositoryreceipts scheme. The key recommendations of thecommittee include allowing issuance of depositoryreceipts against any underlying securities equity ordebt, by any issuer listed or unlisted. Depositoryreceipts are receipts denominated in foreign currencycreated by a depository in the country of listing. Thereare two popular types of depository receipts globaldepository receipts and American depository receipts.
ExideLifeInsuranceCompany ING Vysya Life Insurance Company Ltd has becomeExide Life Insurance Company. The insurance companywill continue to honour its commitments and obligationsunder the insurance policies issued to customers in thename of ING Vysya Insurance Company Ltd.
Mostexpensiveeconomies Switzerland and Norway are the worlds most expensiveeconomies, as per World Bank report.
BaselIIItobeeffectivefrom
2019
The Basel Committee on Banking Supervision on 15
April 2014 issued Final standards for measuring andcontrolling large exposures of banks to customer. Thesestandards will take effect from 1 January 2019. Theseare popularly known as Basel III
BoIgivesbridgeloantoAir
India
Bank of India (BOI) has become the first Indian bank toextend a bridge loan of $200 million to Air India tofinance the purchase of two Boeing 787 Dreamlineraircraft.
Indiantopsglobal
remittances
As per World Bank report India leads global remittances
with USD 70 bn in 2013. China is second with USD 60billion .
WTOprojections World Trade Organisation (WTO) projected that theworld trade will grow by 4.7 percent in 2014.
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BoIlaunchesIMTscheme Bank of India (BOI) launched Instant Money Transfer(IMT) scheme in Mumbai. This IMT scheme allowscustomers to withdraw cash without using either debtcard or credit card at Bols IMT-enabled ATMs. This isthe first-of-tis-kind initiative launched by a public sector
bank.CBIsellsitsstakeinCIBIL Central Bank of India has sold its entire stake in creditinformation provider CIBIL to Transunion InternationalInc. Central Bank had a 5 per cent stake in CIBIL whileTransunion is the majority shareholder in CIBIL at 27.5per cent.
BrandAmbassadorofCanara
Bank
Canara Bank names cricketer Shikhar Dhawan as itsbrand ambassador.
Fastestgrowingstate Bihar emerges as fastest growing state (15.05 per cent) in2012-13: CSO Report.
FDratesinPostOffices
increased
Interest rate on Post Office Fds increased by up to 0.2per cent from 8.2 percent to 8.4 percent.
PostOfficestoostartATMs Indias 1stpost office savings bank ATM inaugurated inThyagaraya Nagar, Chennai.
Increaseinrateofintereston
PFdeposits
Retirement fund body EPFO decided to increase the rateof interest on Provident Fund deposits to 8.75 percentfrom 8.5 percent.
BMBandSBICardstieup Bharatiya Mahila Bank (BMB) and SBI Cards havejoined hands for roll-out of credit cards to customers ofIndias first women-focused commercial bank.
BoJandRBIexpandswap
limit
The Bank of Japan (BOJ) and RBI concluded anagreement that expands the maximum amount of thebilateral swap arrangement (BSA) between the twocountries to USD 50 billion. BOJ Governor is HaruhikoKuroda and RBI Governor Raghuram Rajan.
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List of Cabinet and State Ministers as on 27th May 2014
NameoftheMinister Portfolio Rank
NarendraModi Personnel,PublicGrievancesandPensions,
DepartmentofAtomicEnergy
DepartmentofSpace,Allimportantpolicyissues
andallother
portfoliosnotallocatedtoanyminister.
PrimeMinister
RajnathSingh HomeAffairs CabinetMinister
SushmaSwaraj ExternalAffairs,OverseasIndianAffairs CabinetMinister
ArunJaitley Finance,CorporateAffairs,Defence CabinetMinister
M.VenkaiahNaidu UrbanDevelopment,HousingandUrban
PovertyAlleviation,Parliamentary
Affairs
CabinetMinister
NitinGadkari RoadTransportandHighways,Shipping CabinetMinister
D.V.SadanandaGowda Railways CabinetMinister
UmaBharati WaterResources,RiverDevelopmentandGanga
Rejuvenation
CabinetMinister
NajmaA.Heptulla MinorityAffairs CabinetMinister
GopinathraoMunde RuralDevelopment,PanchayatiRaj,Drinking
WaterandSanitation
CabinetMinister
RamvilasPaswan ConsumerAffairs,FoodandPublicDistribution CabinetMinister
KalrajMishra Micro,SmallandMediumEnterprises CabinetMinisterManekaGandhi WomenandChildDevelopment CabinetMinister
AnanthKumar ChemicalsandFertilizers CabinetMinister
RaviShankarPrasad CommunicationsandInformationTechnology,
LawandJustice
CabinetMinister
AshokGajapathiRaju
Pusapati
CivilAviation CabinetMinister
AnantGeete HeavyIndustriesandPublicEnterprises CabinetMinister
HarsimratKaurBadal FoodProcessingIndustries CabinetMinister
NarendraSinghTomar Mines,Steel,LabourandEmployment CabinetMinister
JualOram TribalAffairs CabinetMinister
RadhaMohanSingh Agriculture CabinetMinister
ThaawarChandGehlot SocialJusticeandEmpowerment CabinetMinister
SmritiIrani HumanResourceDevelopment CabinetMinister
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HarshVardhan HealthandFamilyWelfare CabinetMinister
DharmendraPradhan PetroleumandNaturalGas(Independent
Charge)
MinisterofStates
G.M.Siddeshwara CivilAviation MinisterofStates
InderjitSinghRao Planning(IndependentCharge),StatisticsandProgrammeImplementation
(IndependentCharge),Defence
MinisterofStates
JitendraSingh ScienceandTechnology(IndependentCharge),
EarthSciences
(IndependentCharge),PrimeMinisterOffice,
Personnel,Public
GrievancesandPensions,DepartmentofAtomic
Energy,Departmentof
Space
MinisterofStates
KirenRijiju HomeAffairs MinisterofStates
KrishanPal RoadTransportandHighways,Shipping MinisterofStates
ManojSinha Railways MinisterofStates
MansukhbhaiDhanjibhai
Vasava
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SanjeevKumarBalyan Agriculture,FoodProcessingIndustries MinisterofStates
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V.K.Singh DevelopmentofNorthEasternRegion
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