Thursday 29 December 2011

IBPS PO interview preparation on Banking terms and banking awareness..!


1. What is Repo Rate?

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

2. What is Reverse Repo Rate?

A: This is exact opposite of Repo rate. Reverse Repo rate is the rate at which Reserve Bank of India (RBI) borrows money from banks. RBI uses this tool when it feels there is too much money floating in the banking system. Banks are always happy to lend money to RBI since their money is in 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 rate.

3. What is CRR Rate?

A: Cash reserve Ratio (CRR) is the amount of funds that the banks have to keep with RBI. If RBI decides to increase the percent of this, the available amount with the banks comes down. RBI is using this method (increase of CRR rate), to drain out the excessive money from the banks.3

4. What is SLR Rate?

A: SLR (Statutory Liquidity Ratio) is the amount a commercial bank 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 the RBI (Reserve Bank of India) in order to control the expansion of bank credit. SLR is determined as the percentage of total demand and percentage of time liabilities. Time Liabilities are the liabilities a commercial bank liable to pay to the customers on their anytime demand. SLR is used to control inflation and propel growth. Through SLR rate tuning the money supply in the system can be controlled efficiently.

5. What is Bank Rate?

A: Bank rate, also referred to as the discount rate, is the rate of interest which a central bank charges on the loans and advances that it extends to commercial banks and other financial intermediaries. Changes in the bank rate are often used by central banks to control the money supply.

6. What is Inflation?

A: Inflation is as an increase in the price of bunch of Goods and services that projects the Indian economy. An increase in inflation figures occurs when there is an increase in the average level of prices in Goods and services. Inflation happens when there are fewer Goods and more buyers; this will result in increase in the price of Goods, since there is more demand and less supply of the goods.

7. What is Deflation?

A: Deflation is the continuous decrease in prices of goods and services. Deflation occurs when the inflation rate becomes negative (below zero) and stays there for a longer period.

8. What is PLR?

A: The Prime Interest Rate is the interest rate charged by banks to their most creditworthy customers (usually the most prominent and stable business customers). The rate is almost always the same amongst major banks. Adjustments to the prime rate are made by banks at the same time; although, the prime rate does not adjust on any regular basis. The Prime Rate is usually adjusted at the same time and in correlation to the adjustments of the Fed Funds Rate. The rates reported below are based upon the prime rates on the first day of each respective month. Some banks use the name "Reference Rate" or "Base Lending Rate" to refer to their Prime Lending Rate.

9. What is Deposit Rate?

A: Interest Rates paid by a depository institution on the cash on deposit.

10. What is FII?

A: FII (Foreign Institutional Investor) used to denote an investor, mostly in the form of an institution. An institution established outside India, which proposes to invest in Indian market, in other words buying Indian stocks. FII's generally buy in large volumes which has an impact on the stock markets. Institutional Investors includes pension funds, mutual funds, Insurance Companies, Banks, etc.

11. What is FDI?

A: FDI (Foreign Direct Investment) occurs with the purchase of the “physical assets or a significant amount of ownership (stock) of a company in another country in order to gain a measure of management control” (Or) A foreign company having a stake in a Indian Company.

12. What is IPO?

A: IPO is Initial Public Offering. This is the first offering of shares to the general public from a company wishes to list on the stock exchanges.

13. What is Disinvestment?

A: The Selling of the government stake in public sector undertakings.

14. What is Fiscal Deficit?

A: It is the difference between the government’s total receipts (excluding borrowings) and total expenditure. Fiscal deficit in 2009-10 is proposed at 6.8% of GDP.

15. What is Revenue deficit?

A: It defines that, where the net amount received (by taxes & other forms) fails to meet the predicted net amount to be received by the government. Revenue deficit in 2009-10 is proposed at 4.8% of GDP.

16. What is GDP?

A: The Gross Domestic Product or GDP is a measure of all of the services and goods produced in a country over a specific period; classically a year. GDP during 2008-09 is 6.7%.

17. What is GNP?

A: Gross National Product is measured as GDP plus income of residents from investments made abroad minus income earned by foreigners in domestic market.

18. What is National Income?

A: National Income is the money value of all goods and services produced in a country during the year.

19. What is Per Capita Income?

A: The national income of a country, or region, divided by its population. Per capita income is often used to measure a country's standard of living.Per capita income during 2008-09 estimated by CSO: Rs.25, 494.

20. What is Vote on Account?

A: A vote-on account is basically a statement ,where the government presents an estimate of a sum required to meet the expenditure that it incurs during the first three to four months of an election financial year until a new government is in place, to keep the machinery running.

21. Difference between Vote on Account and Interim Budget?

A: Vote-on-account deals only with the expenditure side of the government's budget, an interim Budget is a complete set of accounts, including both expenditure and receipts.

22. What is SDR?

A: The SDR (Special Drawing Rights) is an artificial currency created by the IMF in 1969. SDRs are allocated to member countries and can be fully converted into international currencies so they serve as a supplement to the official foreign reserves of member countries. Its value is based on a basket of key international currencies (U.S. dollar, euro, yen and pound sterling).

23. What is SEZ?

A: SEZ means Special Economic Zone is the one of the part of government’s policies  in India. A special Economic zone is a geographical region that economic laws which are more liberal than the usual economic laws in the country. The basic motto behind this is to increase foreign investment, development of infrastructure, Job opportunity and increase the income level of the people.

24.What is corporate governance?

The way in which a company is governed and how it deals with the various interests of its customers, shareholders, employees and society at large. Corporate governance is the set of processes, customs, policies, laws, and institutions affecting the way a corporation (or company) is directed, administered or controlled.Is defined as the general set of customs, regulations, habits, and laws that determine to what end a firm should be run.

25.About RBI?
The Reserve Bank of India (RBI) (Hindiभारतीय रिज़र्व बैंक) is the central banking institution of India and controls the monetary policy of therupee as well as US$300.21 billion (2010)[1] of currency reserves. The institution was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of India Act, 1934. The share capital was divided into shares of Rs. 100 each fully paid which was entirely owned by private shareholders in the beginning. [2] Reserve Bank of India plays an important part in the development strategy of the government. It is a member bank of the Asian Clearing Union. Reserve Bank of India was nationalised in the year 1949. The general superintendence and direction of the Bank is entrusted to Central Board of Directors of 20 members, the Governor and four Deputy Governors, one Government official from the Ministry of Finance, ten nominated Directors by the Government to give representation to important elements in the economic life of the country, and four nominated Directors by the Central Government to represent the four local Boards with the headquarters at Mumbai, Kolkata, Chennai and New Delhi. Local Boards consist of five members each Central Government appointed for a term of four years to represent territorial and economic interests and the interests of co-operative and indigenous banks

Tuesday 27 December 2011

Union Bank PO recruitment PO has Approved by IBPS CWE

   Guys Union Bank released PO Recruitment post notification 2012
Post of Vacancy 2473




Union bank of India, Leading listed public sector bank with head office in Mumbai invites online application from from qualified candidate who hold a valid score card issued by IBPS, for recruitment to the post of PO
Visit us at detailed notification
http://www.unionbankofindia.co.in/pdf/POsvn11122011ibpsapproved.pdf

Friday 16 December 2011

Clear Your Doubts About IBPS Common Exam : Bank PO /Bank Clerk


 Now that the result of IBPS PO Exam 2011 for recruitment of Probationary Officers has been declared and all the three phases of IBPS Clerk Exam 2011 for recruitment of Clerk jobs in Banks have also been over, we have been receiving numerous queries. In this post we have tried to clear all the doubts of the aspirants:

Question: What is the basis of qualifying the IBPS Common Exam?
Answer: Each candidate will have to secure a minimum standardized score in each of the tests to qualify in the written examination and to be considered forvacancies in the participating banks.
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Question: What will the successful candidates get after the result?
Answer: IBPS will print the Score Cards for each of the qualifying candidates and will send the same by Registered/ Speed post to each candidate at the correspondence address specified in his/ her online application.

Question: What would be the validity of the Score Card?
Answer: Score Cards issued by IBPS will be valid for one year from the date of issue of the Score Card. Candidates can appear in subsequent examination(s) to enhance their scores if they so desire.

Question: Is getting a scorecard means that I am sure to get a bank job?
Answer: No, you have only completed first stage of the selection process, however based on your scorecard; you are now eligible for applying in the forthcoming jobs in PSBs.

Question: What is to be done with that score card now?
Answer: Now each participating bank will declare their vacancies subject to their eligibility criteria and successful candidates can apply in the banksbased on their CWE Score card.

Question: What would be the next stage of the selection process?
Answer: Next stage would be Group Discussion and Interview of different bank. However Group Discussion may not be necessarily part of selectionprocess of all the banks. But some bank will surely have that as a part ofselection process. Others may only have interview as the final hurdle.

Question: Which are the 19 banks participating in this exercise?
Answer: List of 19 banks given in IBPS advertisement can be seen byclicking the link.

Question: Can I apply for more than one job?
Answer: Yes you can.
  
Now it is important for all the successful candidates to keep an eye on the forthcoming advertisements of individual banks so that they can apply for the coming bank jobs. Those who are unsuccessful should start & continue their preparation for the next year exam as with this common bank exam concept, chances of success have become very bright now as a huge number of candidates are getting success in this exam.

Monday 12 December 2011

Result of IBPS Common Exam for Bank PO: Next Step Preparation: Tips for Final Selection


A call for an Interview is normally the final hurdle when you are trying for a job in the banking sector or for that matter in any other sector. This means that: -
  • You have done well in the written part.
  • Your qualifications and work experience have been found to be appropriate for the job.
  • Now is the time to present the best of your ‘Body, mind and soul’ that is Appearance, Expertise and the Core Values you firmly believe in.

Tips on Preparing for the D-Day
Gather information about the bank or organization that has invited you for the interview. This will give you a clear idea about the philosophy, work environment and reputation of the company.
Read the job description carefully as to what they expect from you. Evaluate your qualifications, experience, and core competences, areas of strength and accordingly draw up a questionnaire along with your replies to the expected questions.
Brush up your communication skills.
Interviewers normally ask you to highlight your strengths and weaknesses. Strengths of course can be emphasized more easily but even the weaknesses can be presented in a positive light. For example, ‘I am a little impatient with the people who are not focused enough, or non serious about the work in hand’
Go with a positive frame of mind, without worrying much about the outcome.
Attending the Interview
Go with a smile (not a grin) on your face, with confidence and determination to succeed in your heart.
As You Enter
Depending upon whether you are being interviewed by one person or a panel of interviewers, greet politely ‘Good Morning’/Afternoon or Evening depending upon time of the day.
If there are more than one person then address them as ‘Sirs/Madams’ and try to encompass them all in your greeting. If there is only one lady in the panel, it is polite to greet her separately.
Most probably you will be offered a seat. Do not sit down unless you are asked to.
Facing the Interviewers
As you sit across the interviewer(s), look confident and relaxed. In most cases the interviewers themselves will try to put you at ease. Believe that they are there to let you prove your worth and mean no harm to you.
The Body Language
Good body language can be inculcated and practiced. Your facial expression, appearance, gestures, how you walk, talk, stand, sit, use your limbs etc. all form part of your body language.
Pay attention to the following.
  • Sit erect comfortably without craning your neck. Do not slouch.
  • Look attentive, keen and interested.
  • Talk clearly, maintaining a pitch that is comfortably audible to the person(s) around.
  • Do not get overexcited even while describing your achievements and strengths.
  • Listen to the queries attentively, constantly maintaining polite eye contact with the interviewers.
  • Nod your head to show that you are listening, interjecting appropriately with ‘Yes Sir/Madam’, absolutely, definitely etc.
  • Lean forward a little as you speak and backward as you listen.
  • Do not fidget, touch your face, or shake your legs.
  • Keep your arms either on your sides or in your lap. Do not fold your arms, as it is a sign of rudeness.
  • Use short simple sentences while talking.
  • Do not make unrealistic tall claims during the interview.
  • During the course of an interview someone may ask about your aspirations. Now that is a tricky situation-be cautious here and do not appear over ambitious.
  • Never get too arrogant or aggressive in front of the interviewers.
  • Even if the interview is not going as you had planned or you get negative vibes, do not show your disappointment and disinterest. Maintain your poise till the end.
  • Always thank the interviewers as you leave.