what is the cutoff of rrb scale 1 for obc ???
Guys I work in a private sector bank and they dont issue an experience letter as specified in the interview letter received from IBPS. Will it be ok if I carry salary slip and appointment letter.
Appearing for Scale II interview on 16th at Kapurthala.
rrb interview in local language ??? because for the 1st time ibps conducting? tel me frnds
wat was the cutoff for OA , gen category, any one aware?
Asset Classification - Classification of Agricultural advances
A loan granted for short duration crops will be treated as NPA, if the instalment of principal or interest thereon remains overdue for two crop seasons. A loan granted for long duration crops will be treated as NPA, if the instalment of principal or interest thereon remains overdue for one crop season. For the purpose of these guidelines, "long duration" crops would be crops with crop season longer than one year and crops, which are not "long duration" crops, would be treated as "short duration" crops. The crop season for each crop, which means the period up to harvesting of the crops raised, would be as determined by the State Level Bankers' Committee in each State. Depending upon the duration of crops raised by an agriculturist, the above NPA norms would also be made applicable to agricultural term loans availed of by him.
Natural calamities impair the repaying capacity of agricultural borrowers, banks may decide on their own as a relief measure conversion of the short-term production loan into a term loan or re-schedulement of the repayment period; and the sanctioning of fresh short-term loan,
In such cases of conversion or re-schedulement, the term loan as well as fresh short-term loan may be treated as current dues and need not be classified as NPA. The asset classification of these loans would thereafter be governed by the revised terms & conditions and would be treated as NPA if interest and/or installment of principal remains overdue for two crop seasons for short duration crops and for one crop season for long duration crops. For the purpose of these guidelines, "long duration" crops would be crops with crop season longer than one year and crops, which are not 'long duration" would be treated as "short duration" crops.
Any kerala guys who hv interview on 17th
Puys,
List of most IMPORTANT topics to cover for RRB Interview??
GUYS I have completed my B.Tech this year i.e 2015.
My college has issued me 2nd ,3rd, final year marksheet (in original).
And Provisional Degree also in Original.
But they haven't issued my 1st year marksheet( in original).
But they have verified the web based marksheet and controller of examination have signed on it.
Is there any issues regarding 1st year marksheet that can be raised during interview of RRB PO????
Kindly provide me your valuable suggestion on this issue.
Thanks in advance
RRB
The Narasimham committee on rural credit recommended the establishment of Regional Rural Banks (RRBs) on the ground that they would be much better suited than the commercial banks or co-operative banks in meeting the needs of rural areas.
Accepting the recommendations of the Narasimham committee, the government passed the Regional Rural Banks Act, 1976. A significant development in the field of banking during 1976 was the establishment of 19 Regional Rural Banks (RRBs) under the Regional Rural Banks Act,1976.
The RRBs were established "with a view to developing the rural economy by providing, for the purpose of development of agriculture, trade, commerce, industry and other productive activities in the rural areas, credit and other facilities, particularly to small and marginal farmers, agricultural labourers, artisans and small entrepreneurs, and for matters connected therewith and incidental thereto" .
Objective
- Bridging the credit gap in rural areas
- Check the outflow of rural deposits to urban areas
- Reduce regional imbalances and increase rural employment generation
The main objective for setting up the RRB is to provide credit and other facilities, especially to the small and marginal farmers, agricultural labourers artisans and small entrepreneurs in rural areas. Each RRB will operate within the local limits specified by notification.If necessary, a RRB will also establish branches or agencies at places notified by the Government.
The issued capital of RRBs is shared by Central Government, sponsor bank and the State Government in the proportion of 50%, 35% and 15% respectively.
Functions
Every RRB is authorized to carry on to transact the business of banking as defined in the Banking Regulation Act and may also engage in other business specified in Section 6 (1) of the said Act. In particular, a RRB is required to undertake the business of
- granting loans and advances to small and marginal farmers and agricultural labourers, whether individually or in groups, and to cooperative societies, including agricultural marketing societies, agricultural processing societies, cooperative farming societies, primary agricultural credit societies or farmers' service societies, primary agricultural purposes or agricultural operations or other related purposes, and
- granting loans and advances to artisans, small entrepreneurs and persons of small means engaged in trade, commerce, industry or other productive activities, within its area of operation.
The Reserve Bank of India has brought RRB's under the ambit of priority sector lending on par with the commercial banks. They have to ensure that forty percent of their advances are accounted for the priority sector. Within the 40% priority target, 25% should go to weaker section or 10% of their total advances to go to weaker section.
Micro-Finance
Micro-finance is a novel approach to "banking with poor"as they attempt to combine lower transaction costs and high degree of repayments.The major thrust of these micro-finance initiatives is through the setting up of Self Help Groups (SHGs),Non-Governmental organizations(NGOs),Credit Unions etc.
Kisan(Farmers') Credit Card
Another notable development in recent years is the introduction of Kisan Credit Cards(KCC) in 1998-99.The purpose of the Kisan Credit Cards(KCC) scheme is to facilities short term credit to farmers.The scheme has gained popularity and its implementation has been taken up by 27 commercial banks, 187 RRBs and 334 Central cooperative banks.
Agricultural Insurance
As Agricultural is highly susceptible to risks such as drought, flood, pests etc. It is necessary to protect the farmers from natural calamities and ensure their credit eligibility from the next season. Towards this purpose, the Government of India introduced a comprehensive crop insurance scheme through out the country in 1985 covering major cereal crops, oilseeds and pulses. Among commercial crops, seven crops viz., sugarcane potato, cotton, ginger, onion, turmeric and chillies are presently covered.
As on 31st March 2015, total number of RRB's in India is 56.
List of RRB's: Click Here
any idea about maximum marks one can get in ibps interview ???
Puys and pirls...... Any idea rrb office assistant ki interview kis date se start ho rahi hai?
Interview question:
What do you think about decreasing share of govt in RRBs and increasing share of private entities instead???
OICL written result declared....
guys from telangana and ap...i have lost my original ssc memo what should i do now?
in ssc web site they have given an option to download duplicate memo is that sufficient for rrb interview ?????
anybody give definition for contigent liability?
A note on the 'Interest Subvention Relief to Farmers' programmes being run by the GoI.
Farmers in the country have been facing financial hardship due to several reasons - consecutive droughts, indebtness and crop failures - farmers' suicide have always been in news in the recent time. Consequent upon the announcement by the Union Finance Minister in Budget Speech 2006-07, public-sector banks, regional rural banks and rural co-operative credit institutions were advised that with effect from Kharif 2006-07, government would provide interest rate subvention of 2 per cent per annum in respect of short-term production credit up to Rs. 3.0 lakh. This subvention was available to public sector banks, regional rural banks and rural co-operatives on the condition that they made short-term credit available at 7 per cent per annum.
In case of RRBs and rural cooperatives, this was applicable only to short-term production credit disbursed out of their own funds and did not include such credit supported by NABARD refinance. Pursuant to the Union Budget 2010-11 announcement, it was decided to provide interest subvention of 1.5 per cent per annum for short-term agriculture loans up to Rs. 3.0 lakh disbursed by public sector banks, cooperatives, and RRBs. The additional subvention for prompt repayment has been enhanced to 2 per cent per annum so that the effective interest rate charged to such farmers is 5 per cent per annum up to Rs. 3.0 lakh. In the Budget 2011-12, the government of India proposed to provide interest subvention of 1.5 per cent per annum for short term agriculture loans up to Rs. 3.0 lakh disbursed by public sector banks, co-operatives and RRBs. The additional subvention for prompt paying farmers is proposed to be enhanced to 3 per cent per annum so that the effective interest rate charged to these farmers is 4 per cent per annum upto Rs. 3.0 lakh. The programme has also been continued by the Union Budget 2013-14.
-Ramesh Singh(Indian Economy)
Why do you want to join Banking Sector?
Here I am giving you some tips to answer this question perfectly:
(1) While answering these types of question you have to be very careful as these questions are critical to your selection and your answer can make or break your chances of final selection.
(2) By asking these types of questions the interviewer wants to judge whether you have clarity in your thoughts and you are well aware of the post and organization you are preparing.
(3) Panel members in the interview looks for a confident and a proactive candidate who is well aware and ready to take responsibility if hired.
(4) Take note of the fact that while framing your answer for this question, take these factors in to consideration.
Possibility of growth
Job security
Prestige in society
These factors if included in your answer will make the answer look professional. Here is a model answer for you which I will suggest you to adopt. Sir, I want to join banking sector because
(1) Banking is one of the fastest growing sectors in India with more stable and high growth.
(2) Banking Sector offers tremendous growth opportunities as candidates reach from Trainee Officer level to a General Manager level.
(3) Bank employees have respect in the society since there is direct interaction with the customers and bankers participate in various social schemes beneficial for the society.
(4) One of the major reasons is Job security as everyone want to be financially secured.
(5) It is a white collar job also it provides a challenging working environment.
(6) Banks are now using the best available technology for their work; employees get the work on the latest banking software which adds good weightage to their profile.
(7) Bankers enjoy various perks and low interest loans which also attracts me to take banking as my carrier.
NOTE: White-collar work is performed in an office, cubicle, or other administrative setting.
At Last:
While presenting your answer in the interview, have a smile in your face and look at all the interviewers one by one.
(i) Present the answer in a diplomatic manner so that the interview board might feel that you are not just displaying your ambitions only.
(ii) Do not answer the questions which you don't know. Don't try to be-fool the panel interviewers by giving wrong answers. Wish the panel interviewers by making time into consideration.
(iii) If you feel nervousness than just take a long breadth and have a glass of water. Just think you are the best candidate to be selected. All the very best! Just be confident you are almost there.
Chaap diya ! 😂
Courtesy : gradestackSalient Features of RRB AMENDMENT BILL 2014
Difficulty level : 😠
- The Regional Rural Banks (Amendment) Bill, 2014 was introduced by the Minister of Finance, Mr. Arun Jaitley, in Lok Sabha on December 18, 2014. The Bill seeks to amend the Regional Rural Banks Act, 1976.
- The Regional Rural Banks Act, 1976 mainly provides for the incorporation, regulation and winding up of Regional Rural Banks (RRBs).
- Sponsor banks: The Act provides for RRBs to be sponsored by banks. These sponsor banks are required to (i) subscribe to the share capital of RRBs, (ii) train their personnel, and (iii) provide managerial and financial assistance for the first five years. The Bill removes the five year limit, thus allowing such assistance to continue beyond this duration.
- Authorised capital: The Act provides for the authorised capital of each RRB to be Rs five crore. It does not permit the authorised capital to be reduced below Rs 25 lakh. The Bill seeks to raise the amount of authorised capital to Rs 2,000 crore and states that it cannot be reduced below Rs one crore.
- Issued capital: The Act allows the central government to specify the capital issued by a RRB, between Rs 25 lakh and Rs one crore. The Bill requires that the capital issued should be at least Rs one crore.
- Shareholding: The Act mandates that of the capital issued by a RRB, 50% shall be held by the central government, 15% by the concerned state government and 35% by the sponsor bank. The Bill allows RRBs to raise their capital from sources other than the central and state governments, and sponsor banks. In such a case, the combined shareholding of the central government and the sponsor bank cannot be less than 51%. Additionally, if the shareholding of the state government in the RRB is reduced below 15%, the central government would have to consult the concerned state government.
- The Bill states that the central government may by notification raise or reduce the limit of shareholding of the central government, state government or the sponsor bank in the RRB. In doing so, the central government may consult the state government and the sponsor bank. The central government is required to consult the concerned state government when reducing the limit of shareholding of the state government in the RRB.
- Board of directors: The Act specifies the composition of the Board of Directors of the RRB to include a Chairman and directors to be appointed through the central government, NABARD, sponsor bank, Reserve Bank of India, etc. The Bill states that any person who is a director of an RRB is not eligible to be on the Board of Directors of another RRB.
- The Bill also adds a provision for directors to be elected by shareholders based on the total amount of equity share capital issued to such shareholders. If the equity share capital issued to shareholders is 10% or less, one director shall be elected by such shareholders. Two directors shall be elected by shareholders where the equity share capital issued to them is from 10% to 25%. Three directors shall be elected in case of equity share capital issued being 25% or above. If required, the central government can also appoint an officer to the board of directors to ensure effective functioning of the RRB.
- The Act specifies the term of office of a director (excluding the Chairman) to be not more than two years. The Bill raises this tenure to three years. The Bill also states that no director can hold office for a total period exceeding six years.
- Closure and balancing of books: As per the Act, the books of a RRB should be closed and balanced as on December 31 every year. The Bill changes this date to March 31 to bring the Act in uniformity with the financial year.
Companies Amendment Bill bhi padh lo....kya pata kaun se uncle ji ki apni mohatarma se ladai hui ho ghar pe aur gussa humpe nikalne ke liye pooch lein 😂
Salient features of Companies Amendment bill 2014 :
Difficulty level : 💩
- The Companies (Amendment) Bill 2014 was introduced in the Lok Sabha on December 12, 2014 by the Minister of Finance, Mr. Arun Jaitley. It was passed in Lok Sabha on December 17, 2014.
- The Bill introduces certain amendments in relation to Related Party Transactions, fraud reporting by auditors, making common seal optional, and jurisdiction of special courts to try certain offences etc. The Statement of Objects and Reasons of the Bill states that this is to ensure ease of business.
- Removal of minimum paid up share capital: The Act defines a private company as one that is required to have a minimum paid-up share capital of one lakh rupees or higher. A public company is required to have a minimum paid up shared capital of five lakh rupees or higher. The Bill removes the requirement of a minimum paid up share capital amount for private and public companies.
- Punishment for contraventions for acceptance of deposits from the public: The Bill inserts a new provision which states that when a company:
- accepts, invites or allows another person to accept or invite on its behalf any deposit which is in contravention to the provisions specified in the Act or rules under it; or
- fails to repay the deposit or any interest, either in part or whole, within the time specified in the Act, or further time allotted by a Tribunal, it shall be subject to certain penalties. The penalties include:
- A minimum fine of Rs one crore and a maximum of Rs 10 crore, in addition to the deposit or interest that is due; and
- Up to seven years imprisonment and fine between Rs 25 lakh to Rs two crore, or both, for every defaulting officer of the company;
- If proved that the defaulting officer of the company did so willfully, he will be liable for the offence of fraud, under this Act.
- Powers and duties of auditors: The Act requires that if the auditor of a company has reason to believe that an offence of fraud has been committed against the company, by its employees, he must report the matter to the central government within a time period and in a manner prescribed.
- The Bill replaces this provision. It now requires that to qualify as an offence of fraud, it must be of a specific amount as prescribed. Only in such cases, is the auditor required to report the matter to the central government.
- In case of a fraud involving lesser than the specified amount, the auditor is to report the matter to the audit committee, or to the Board. Companies must disclose details of such frauds in the Board's report.
- Related Party Transactions: The Act states that a company may not enter into any contract or third party arrangement on certain matters without the consent of the Board of Directors. The specific matters include sale, purchase or supply of goods or materials, selling, leasing of any property etc.
- Further, any contract of a particular sum that a company wants to enter into must have prior approval of the company by a special resolution.
- The Bill replaces the requirement of obtaining a special resolution with that of a resolution.
- The Bill now states that a resolution would not be necessary for transactions between a holding company and its wholly owned subsidiary whose accounts are consolidated with such holding company and have been placed before the shareholders for their approval.
- Special Courts: For the purpose of providing speedy trial of offences under the Act, the central government may establish or designate as many special courts, as may be necessary. The Bill amends this provision to limit the constitution of such benches only for the trial of offences where punishment is imprisonment of two years or more.
- Further, all other offences are to be tried by a metropolitan or first class judicial magistrate.
- Removal of requirement of a common seal: The Act states that a body corporate would be required to have a common seal, from the date of incorporation. The Bill deletes the requirement of a common seal throughout the Act.
Ye zaroor padhna....
A Contrarian view to RRB amendment bill 2014 :::
BJP Govt's Another blow to rural poor Regional Rural Banks are Privatised:
THE BJP government has passed a bill in the Lok Sabha to reduce the combined share-holding of the central government and the sponsor banks in the Regional Rural Banks to 51% on December 22, 2014. This is a great disservice to the rural poor. Earlier the UPA-2 government led by the Congress Party also made an attempt to bring this legislation. The bill is expected to be placed in the Rajya Sabha or in combined session of the parliament during the budget session. This is yet another blow to the rural poor.
RRBS ESTABLISHED
TO HELP RURAL POOR
Regional Rural Banks (RRBs) were established on October 2, 1975, Gandhi Jayanthi Day through an ordinance to ensure sufficient institutional credit for the agriculture sector and to relieve the rural poor from the clutches of the usurious money lenders. The major objective of setting up of RRBs is to provide credit especially to the small and marginal farmers, agricultural labourers, artisans and small entrepreneurs in rural areas. Later the ordinance was converted as Regional Rural Banks Act 1976. RRBs are jointly owned by government of India, sponsor banks and the state government concerned and the issued capital of RRB is shared in the proportion of 50%, 35% and 15% respectively. In these nearly four decades of the existence of these Banks, they have largely served the purpose for which they were established.
Initially many RRBs were established and about a decade back there were 196 RRBs. Later they were merged in two phases and now there are 56 RRBs sponsored by 22 banks covering 27 states and 639 districts. The total number of branches at present is nearly 19,000 out of which nearly 18,000 are located in rural and semi urban areas. The RRBs serve 15.5 crore people and have lent to the extent of approximately Rs 2 lakh crores to nearly 3 crore people with hardly Rs 196 crores share capital and nearly 80,000 staff. The (credit deposit) CD ratio is 86.2%. As has been admitted by the minister of state for finance Jayant Sinha in the Lok Sabha "their (RRBs) priority sector lending which is supposed to be 40% for a PSU Bank that is what is the RBI mandates, is 82% and their profitability has been strong".
HARDLY 7% OF VILLAGES
HAVE A BANK BRANCH
Our country has nearly 6,32,000 villages as per 2011 census, whereas the number of rural branches of commercial banks is less than 30,000. Even after adding 14,500 rural branches of RRBs, the number of villages with bank branches is hardly 7%. According to Dr K C Chakravarthy, then deputy governor of RBI, "Rural branches have presently (in 2013) declined to 37% of the total number of branches from 54% in 1994". This clearly shows that the focus of commercial banks including PSBs has been shifted from the rural area to the urban and metro areas after the implementation of neo-liberal policies. There is a vast scope for expansion of public sector banks (PSBs) and RRBs in the rural area to implement real financial inclusion. Instead of moving in this direction, there is a move to merge PSBs. The top most agenda of the meeting of chairmen of the PSBs which will be attended by the prime minister Narendra Modi to be held on January 2-3, 2015 in Pune is to merge PSBs which will eventually lead to closure of number of branches.
Even after 44 years of bank nationalisation and 38 years since RRBs were established 60 % of the adults do not have formal bank accounts as per RBI report 2013. The same report admits that 42.9% of the rural credit is financed by non-institutional agencies like landlords, money lenders, traders, commission agents etc.
Under these circumstances, it is logically expected of the government at the centre to plan for large scale expansion of banks particularly RRBs in the rural area in order to have meaningful financial inclusion. That alone will really relieve the rural poor from the clutches of the money lenders. Instead of that, the Modi government is treading exactly in the opposite direction.
The RRBs amendment bill pushed through in the Lok Sabha on December 22, 2014 provides for
a) Enhancement of authorised share capital from Rs 5 crores to Rs 2000 crores
b) Reduction of the combined share-holding of the central government and the sponsor banks to 51%
c) Reduction of the share-holding of the state government concerned to below 15% in consultation with it (not with consent of the state government)
d) Nominees of private shareholders to the board of directors of RRBs according to the size of private shareholding, ranging from 1 to 3
The argument put forth by the government for this amendment bill in the words of MoS for finance is to strengthen RRBs and to deepen financial inclusion. Another argument is that there is the need for capital as per Basel III norms.
THE EXPERIENCE OF
COMMERCIAL BANKS
After offloading of the shares of government of India in the PSBs from cent percent to upto 51% in the early 1990s, the direction of them has got changed from mass banking to class banking. The priority sector lending has taken a back seat. The corporate lending has assumed priority. The corporate NPAs have increased to alarming proportion. The share-holders directors in the PSBs play a vital role to serve the interest of the corporates. There is a large scale outsourcing of many of the permanent and perennial nature of jobs. Thus this partial privatisation is root cause for almost all the maladies that the PSBs are afflicted with.
The previous NDA government led by Vajpayee brought a bill in the year 2000 to reduce the share-holding of the government of India in PSBs to 33% paving way for virtual privitisation of the PSBs. The protest actions of the bank employees' movement and the Left and democratic forces only prevented this danger.
Thus with the reduction of combined share-holding of the central government and sponsor banks in RRBs to 51%, the focus of RRBs will surely be shifted from priority sector lending. This will not strengthen RRBs. Rather the share-holder directors would try to change the direction of the RRBs from mass banking. The financial inclusion will remain a myth if RRBs are partially privatised. The National Sample Survey reveals that the suicide of the farmers has enormously increased during the past year for want of institutional credit. This move of the government will add the number instead of arresting them.
SPECIOUS ARGUMENT
OF CAPITAL NEED
The argument of the government that this move is taken for augmenting capital as per Basel III norms does not hold water. First of all, the huge credit to the crores of people is extended with just Rs 196 crores share capital. The RRBs have mobilised a deposit of Rs 2,40,000 crores just with the same capital. The people of the country have abundant faith in RRBs not seeing the capital but because they are owned by the government of India. The total amount of capital support in the name of Share Capital Deposits provided to RRBs in the entire lifetime of the RRBs is around Rs 6,000 crores only. The RRBs have now an amount of Rs 15,283 crores as reserve, that means as accumulated profit. Even assuming that there is a need for capital, the government can very well provide the same. Instead of that, offloading of share of the central, state governments and the sponsor banks is sure to injure the interest of the common man. This move of the government to privatise RRBs has to be stoutly opposed and resisted. The trade unions and the democratic forces have to join hands to see that this legislation is not enacted into law..