Bank PO Exams India

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History of Banking TechnoFunc: your online source for tutorials and videos on functional skills, domain knowledge, leadership skills,management skills.

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Banking Sector & Its Segments Banking sector has witnessed enormous growth in the past decades. The banking industry can be divided into two categories commercial banking and investment banking.

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1. Who has been awarded with the prestigious Presidential Award for Excellence in Mathematics and Science Teaching by President Barack Obama in July 2015?
Answer. Darshan Jain, an Indian-American teacher

2. Name the Indian-origin scientist Professor who was electedto the Royal Society of London?
Answer. Professor Kamal Bawa

3. In July 2015,Mexican Joan Sebastian passed away. He was a famous?
Answer. Musician

4. The Prime Minister (PM) Narendra Modi launched DDUGJY in Patna. What is the full form of DDUGJY?
Answer. Deen Dayal Upadhyay Gram Jyoti Yojana

5. Name the portal which is launched by Union Government to modernize all government-run employment exchanges.
Answer. National Career Counselling Portal

6. Union Ministry of Urban Development launched the HRIDAY for 12 cities in the country from Amritsar in Punjab in July 2015. What is the full form of HRIDAY?
Answer. Heritage Development and Augmentation Yojana

7. NITI Aayog has constituted an expert panel to suggest ways to promote innovation and entrepreneur friendly ecosystem for pushing job growth. The Expert Committee is headed by -
Answer. Prof Tarun Khanna and Jorge Paulo Lemann.

8. Indian Railways assured that its ambitious Rs 81,459 cr worth ‘Dedicated Freight Corridor’ (DFC) project, meant for faster goods movement, will be completed by which year?
Answer. 2019
Note: Railways is constructing Eastern Corridor from Ludhiana to Dankuni (1840 kms) and the Western Corridor from Dadri to Jawaharlal Nehru Port (1502 kms).

9. In July 2015,the Government has finalised a proposal to cap premature withdrawals from the Employees’ Provident Fund at how much percent of the total accumulation in case of loss of employment?
Answer. At 75 per cent.

10. The government extended the interest subvention scheme to banks to ensure availability of crop loans of up to Rs 3 lakh to farmers at how much interest rate per annum?
Answer. 7 per cent per annum

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Introduction to Cash Management Process Cash is a company's most liquid asset and it is very important that it is properly controlled, managed and available for the company to meet its obligations ...

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Top Amazing Facts About The Human Body
Here are wacky facts about human body : -


The largest organ in the body is the skin.

The liver is the largest gland and the largest internal organ in the human body.

The brian uses over a quarter of the oxygen used by the human body.

Our heat beats around 100000 times a day, 36500000 times a year and over a billion times if you live beyond 30.

Length of thum is the same with nose.

Red blood cells carry oxygen around the body. They are created inside the bone marrow.

It takes about 20 seconds for a red blood cell to circle the whole body.

The biggest muscle in the body is gluteus maximus , in the buttock.

The lungs contain over 300, 000 million capillaries. If they were laid end to end, they would stretch 2400 km.

Every drop of blood in human body is filtered by the body over 300 times a day.

The o**m is the largest cell in the human body.

Adult lungs have a surface area of around 70 square meters.

The stapes is the smallest bone in the body. It’s located in the inner ear.

The acid in stomach is strong enough to dissolve razor blades.

Nose and Ears continue growing throughout entire life.

Each person has a unique tongue print just like the fingerprints.

The longest muscle in the body is Sartorius.

The smallest muscle in the body is Stapedius, deep in the ar. It is thinner than a thread and 0.05 inches ( 0.12 centimeters ) in length.

Enamel is hardest substance in the human body.

All babies are color blind when they are born , they only see black & white.

The tongue is the strongest muscle in the human body.

It takes 17 muslce to smile and 43 to frown.

The adult body is made up of : 100 trillion cells, 206 bones, 600 muslces and 22 internal organs.

Bone in an adult account for 14% of the body’s total weight.

A body born with 300 bones in their body, but as an adult we have 206 bones.

200 muscles used to take one step.

The strongest bone in your body is the femur ( thighbone ) and its hollow. It is also the longest and largest bone in Human body.

The normal pulse is 70 heartbeats per minute.

Blood is 6 times thicker than water.

Facial hair grows faster than any other hair on the body.

Our kidneys filter about 1.3 liters of blood every minute & expel up to 1.4 liters of urine in a day.

The only part of the body without blood supply is the cornea in the eye. It takes in oxygen directly from the air.

An average human produces 10,000 gallons of saliva in a lifetime.

The fastest growing nail is on the middle finger.

14 bones make up the human face.

The human heart creates enough pressure while pumping to sq**rt blood to 30 feet.

The tooth is the only part of the human body that can’t repair itself.

Glimpses of the Year 2013

Dear Readers, here we are providing you a glimpse of the major events of the year 2013.

1. AAP FORMS GOVERNMENT IN DELHI:
Arvind Kejriwal of the Aam Aadmi Party was sworn in as the Chief Minister of Delhi on December 28. The AAP, which secured 28 seats in Delhi’s 70-member Assembly in its maiden election in December, formed the Government with outside support of the Congress, which has 8 MLAs.

2. PARLIAMENT PASSES LOKPAL BILL:
The Lok Sabha on December 18 passed the historic Lokpal and Lokayuktas Bill, 2013, paving the way for establishment of an ombudsman to fight corruption in public offices and ensure accountability on the part of public officials, including the Prime Minister.

3. BJP’S VICTORY IN STATE ELECTIONS:
The BJP emerged victorious in three of the five States where elections took place in November-December. It seized power from the Congress in Rajasthan and got re-elected in Madhya Pradesh and Chhattisgarh, while it emerged as the single largest party in Delhi in what was dubbed as the semi finals before next year’s general elections. The Congress secured a two-third majority in Mizoram.

4. Bharat Ratna Award:
Prof & Scientist CN Rao and Indian Cricket legend Sachin Tendulkar has been bestowed with the country’s biggest civilian award “Bharat Ratna”.
Tendulkar, who retired from international cricket, is the first sportsman to be bestowed with India's highest civilian honour.

5. Sachin Retires:
Sachin Tendulkar, retired from international cricket after playing his 200th Test match against West Indies in Mumbai at Wankhade Stadium.
Sachin Profile:

1973: Born in Bombay (now Mumbai) on 24 April
1989: Makes Test debut for India against Pakistan, aged 16
1990: Scores first Test century, against England
1998: Scores first double century for Mumbai against Australia
2005: Passes Sunil Gavaskar's record of highest number of Test centuries
2008: Becomes the highest run-scorer in Test cricket, passing West Indies' Brian Lara's mark of 11,953
2010: Becomes the most capped player in Test history
2011: Wins the World Cup with India
2012: Scores his 100th international century in ODI v Bangladesh in March; retires from ODIs in December
2013: Plays his 200th and final Test on his home ground in Mumbai

6. TELANGANA BILL APPROVED: The Union Cabinet on December 5 approved a Bill for the creation of a Telangana State with 10 districts, paving the way for the bifurcation of Andhra Pradesh to give birth to the country’s 29th State.

7. INDIA’S MARS MISSION: India’s Mars Orbiter Mission, called Mangalyaan, was successfully launched into Earth orbit on November 5 by the Indian Space Research Organisation (ISRO). It is India's first interplanetary mission and, if successful, ISRO would become the fourth space agency to reach Mars, after the Soviet space programme, NASA, and European Space Agency.

8. LALU GETS FIVE YEARS IN JAIL: Former Bihar Chief Minister and Rashtriya Janata Dal leader Lalu Prasad Yadav was sentenced on October 3 to five years in prison and fined Rs.25 lakh for his involvement in the fodder scam that surfaced 17 years ago.

9. TEHELKA SCANDAL: A female journalist of Tehelka accused the magazine’s editor Tarun Tejpal of sexually assaulting her in a Goa hotel in early November. The Goa Crime Branch booked Tejpal for r**e after the allegations. He was later sent to judicial custody.

10. MODI, BJP’S PM CANDIDATE:
The Bharatiya Janata Party on September 13 formallyannounced that Gujarat Chief Minister Narendra Modi would be the party’s prime ministerial candidate for the next general elections, due for mid-2014. The announcement came despite opposition from veteran leader L.K. Advani.

11. MUZAFFARNAGAR RIOTS: Clashes between two communities broke out in the Muzaffarnagar district, Uttar Pradesh, on August 27, which claimed at least 43 lives and injured 93.

12. HYDERABAD BLASTS: On February 21, two blasts occurred in the city of Hyderabad. The bombs exploded in Dilsukhnagar, a crowded shopping area, killing at least 17 people, including three college students, and injuring 119.

13. Telegram service ends. STOP:
The world sent its last telegram when India's state- owned telecom company shut its 163-year-old telegraph service on 15 July. The service had become largely irrelevant due to the advent of the mobile phone and computers, but that did not stop many from reminiscing over the rich history of the service.
Telegrams always triggered a sense of excitement and it wasn't surprising when thousands queued up to send a final "nostalgic telegram" on 15 July. The service had a deep connection with India as it was regularly shown as a mode of communication in early Bollywood films - where the news ranged from a hero sending a telegram to his father about his new job or a family receiving information about the death of their breadwinner in a battle field.

14. Delhi gang r**e verdict:
The tragedy that unfolded on 16 December 2012 when a 23-year-old student was gang-r**ed on a moving bus in Delhi somewhat saw a closure after the four convicts were given the death sentence in September this year.
The verdict was welcomed by the media and became one of the biggest stories of the year as it came in the backdrop of widespread anger across the country.
Unfortunately, violence against women in India has not seen a drop as reports of r**es and other forms of sexual assault were reported throughout the year.
However, protests that erupted after the horrific event shook-up the government on the issue of women safety and forced it to come up with stricter new anti-r**e laws.

15. Two disasters - different approaches:
Natural disasters left many dead and homeless in India in 2013 but there was a lesson to be learnt after the government averted a major crisis when tropical storm Phailin hit the country's eastern shores in October.
The government had issued warnings days in advance and evacuated thousands to reduce the number of casualties.
Contrary to this, floods in the mountainous state of Uttarakhand in northern India killed hundreds of people in June.
Relatives of those dead or stranded in the state were left in despair due to a lack of coordination in rescue efforts.
Many of those who died were tourists travelling to the state for pilgrimage.
Newspapers blamed rampant construction, mining and massive power projects in the northern Himalayan states for the flooding and termed it a man-made disaster.

16. Economic gloom:
The year did not bring much cheer for the country's economy as the rupee continued to slide for most of 2013.
The rupee dropped by nearly 4% to a new low of 68.7 to the US dollar on 28 August amid growing concerns over the health of the country's economy.
It has recovered slightly but continues to perform weakly in the international market.
Newspapers and pundits mostly added to the negative sentiment throughout the year.
Now one hopes that the new year will bring renewed energy into India's struggling economy.

17. Raghuram Rajan takes over as new RBI governor:
Raghuram Rajan, appointed 23rd governor of Reserve Bank of India (RBI), on September 4, 2013. He Succeeded D. Subbarao

18. Legendary actor Pran dies at 93:
Pran, one of Bollywood's most respected actors, died in Mumbai's Lilavati Hospital. "Pran received the Dadasaheb Phalke Award this year in May.
Pran, star of films such as Zanjeer and Amar Akbar Anthony, began his career as a hero in Punjabi films, made a tremendous impact on Bollywood as the villain in Dilip Kumar's Ram Aur Shyam and was the first actor to break stereotype by playing character roles as well. In the '70s, there was almost no major film that did not feature Pran and he was often higher paid than the hero.
Pran was credited with making the role of the villain as important as the hero's, and was known for his sophistication and style on screen.

19. Sanjay Dutt sentenced to 5 years in jail in 1993 Mumbai blasts case: Actor Sanjay Dutt has been sentenced to five years in prison by the Supreme Court which upheld his conviction for illegally possessing weapons in a case linked to the 1993 serial blasts in Mumbai. Over 250 people were killed in the terror attack.

20. The Kumbh Mela:
The year also witnessed a show like no other as the world's largest gathering took place in the northern city of Allahabad on 11 February.Several million people bathed at the confluence of the Ganges and Yamuna rivers during the two-month long Kumbh Mela festival.

The event, held every 12 years, is billed as the biggest gathering on Earth and attracts Nagas (naked holy men), assorted gurus and tourists from all over the world.

ENGLISH VOCAB.( PREPOSITIONAL PHRASES)

1. ACCOMPLISH IN
Meaning: Possessed of good qualities
Example : Mukesh is accomplished in art of painting.

2. Acquainted with
Meaning: Familiar, known
Example : Rohit is acquainted with Ramesh.

3. Angry with a person
Example : Ram is angry with his brother.

4. Angry at Once Behaviour
Meaning: Possessed of good qualities
Example : The teacher was angry at his student’s behaviours.

5. Abide by
Example : We should abide by the advice of our teacher.

6. Agree with
Example : I do not agree with my friends in this matter.

7. Agree to
Example : We agree to your proposal.

8. Anxious for
Meaning : I am anxious for the prize.

9. Anxious about
Example : he was anxious about my health.

10. Accompanied by
Example : He was accompanied by his friend

11. Accompanied with
Example : The fever was accompanied with cough.

12. Hanker from
Example : He was hindered from doing this work.

13. Part with
Example : I don’t want to part with this book.

14. Part from
Example : I parted from my friend at the station.

15. Preventive of
Example This medicine is a good preventive of cancer.

Role of Aadhar in Banking System !

About AADHAR: The Unique Identification Authority of India (UIDAI) was established by Government of India with an objective to implement Multipurpose National Identity Card or Unique Identification Card (UID Card)in India.

This project is part of the Planning Commission and headed by Mr. Nandan Nilekani, a former co-chairman of Infosys Technologies.

A budget of `3000 crores is allotted for implementation of the ambitious project with an objective to cover 60 crore residents by 2014

It is aimed to issue a unique identification number to all Indian residents with intent:
i. to eliminate duplicate/fake identities
ii. to put hassle-free, cost effective verification/authentication system in place thereby
iii. to save considerable resources of various User Departments as well as beneficiaries at large.

Basics of UID (AADHAR)

i. It will be a randomly generated twelve digit number for every resident of India. Example:2653 8564 4663.
ii. The number will be unique, which means, no two residents will have the same number.
iii. No resident can have two numbers because AADHAAR is based on a combination of standard information like name, address, age and biometric information which is unique to every person.
iv. AADHAR will be used to prove identity not citizenship.
v. It will not be compulsory to get an AADHAAR number

Benefits to the users:

1. The AADHAAR will become the single source of identity verification. Once residents enroll, they can use the number multiple times.
2. The large number of residents, who currently don’t have any identity documents and are therefore ‘excluded’ from beneficiary lists, can also get an ‘identity’ through the' Introducer' system.

Role of AADHAAR in Banking System:

Aadhaar Enabled Payment System or AePS is an Indian payment system developed by National Payments Corporation of India. Its working is based on unique identification number for individuals called Aadhaar.

The system allows an Aadhaar-holder to carry out financial transaction on a micro-ATM provided by the banking correspondent. It is an initiative towards providing improved social security benefits and financial inclusion of the under-privileged people.

AADHAAR Project - Role of Banks: Public Sector Banks already started entering MOU with UIDAI to act as Registrars for AADHAAR project. Banks are likely to play beyond the role of enrolling agents.

1. KYC compliance: Today, the major constraints faced by the banks while opening of accounts is the absence of valid identity and address proof of the prospective customers and it is causing inconvenience to the public and operational problems to the banks thereby unable to achieve the desired financial inclusion.
Once the project comes to live, AADHAAR number may be treated as substitute for KYC compliance which enables the banks to open accounts with a greater speed and accuracy besides saving of considerable resources.

2. Micro ATMs: As a step towards financial inclusion, RBI has allowed banks to engage intermediaries i.e. Business Correspondents (BC) to carry out specified financial transactions through Public Call Office operators, Kirana Stores, Medical Shop owners and Fair Price Shop dealers etc.

The intermediaries would be provided mobile phone and fingerprint reader and would act as a Micro ATM where a person could go to any BC across the country to withdraw/deposit money.

AADHAAR could emerge as a payment card linked to a savings account and function as a pre-paid / smart card where the government credits the amount to the accounts directly.

On implementation of the project, banks would have immediate access to many more potential customers at the bottom of the pyramid through Branchless Banking; however, this requires substantial investment in technology.

What are Micro ATMS? Micro-ATMs are biometric authentication enabled hand-held device (also known as a Point of Transaction [PoT] terminal) .

Micro-ATMs will primarily perform following functions:

1. Cash withdrawal
2. Cash deposit
3. Balance enquiry
4. Remittances

Note: i. These devices will be operated by the Business Correspondents (BCs) appointed by the banks.
ii. The physical currency would be handled by this BC and not a machine like a regular ATM.
iii. All transactions will require online biometric authentication with the UIDAI authentication server in order to be processed.

3. Mobile Banking: The Aadhaar project enables the mobile industry to create a Low-Cost High-Volume ubiquitous transaction platform to pe*****te into remote rural areas of the country.

Under this every transaction point will have a mobile phone and a fingerprint reader. The resident having Aadhaar number simply walk in to any point and complete his financial transaction with ease since the service provider gets the authentication from UID online.

Advantages:

1. Brings down the costs of cash management for banks.
2. Supports physical cash transactions at the local level.
3. Substantially reduces the risk to the bank, since the cash transacted at the local level is already paid-up by the BC (Business Correspondents).

Once this model is stabilized, the distribution of financial products and services can be opened up to whoever is willing to invest in a mobile phone and a fingerprint reader. Millions of financial correspondents could be enrolled. The AADHAAR platform enables the banks to provide Virtual Banking.

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