recently icici and hdfc have reduced their offered rates on fixed deposits by 25 and 50 bsp respectively.What is the reason for this step?
How many are attending interviews in Pune on 25th Jan??
can any person who attended last years interview clarify whether character certificate is required in interview or not ? i am not able to decide nor anything is clear after reading the comments on character certificate
Unbutton ur suit when u sit down in front of the panel?
Daily Current Affairs - 14th January 2015, Wednesday
1. H S Brahma appointed new Chief Election Commissioner of India
i. Harishankar Brahma has been appointed as the new Chief Election Commissioner of India. He replaces Veeravalli Sundaram Sampath.
ii. A 1975 IAS officer of Andhra Pradesh cadre, Brahma
(60), who hails from Assam, is a former Union power secretary.
iii. Brahma
assumed charge as one of the three election commissioners of India on August
25, 2010.
iv. After
J M Lyndogh, Brahma will become the second officer from the northeast to be
appointed to this post.
2. Union Minister Mukhtar Abbas Naqvi Naqvi sentenced to one year imprisonment
i.Union Minister of State for Minority Affairs Mukhtar Abbas Naqvi, along with 19 others, was convicted by a Rampur Court for breaching prohibitory orders during the 2009 Lok Sabha polls.
ii. Mr. Naqvi along with 19 other people were booked in Patwai police station in Rampur for allegedly breaching prohibitory orders and barging in a police station in Patwai area while campaigning during 2009 Lok Sabha polls.
3. DRDO chief Avinash Chander removed
i. Avinash Chander, Chief of Defence Research and Development Organisation (DRDO) was removed by the government on Tuesday.
ii. He was removed 15 months before his contract was supposed to end.
iii. He joined DRDO in 1972 after completing graduation in electrical engineering from Indian Institute of Technology (IIT), Delhi
4. India and Australia signed MoU for skill and infrastructural development in sports
i. The Sport Education Development Australia (SEDA) and India's Infrastructure Leasing and Financial Services Limited (IL-FS) signed a Memorandum of Understanding (MoU) on 13 January 2015.
ii. The agreement was signed by the Australian Minister for Trade and Investment Andrew Robb.
5. Italy President Giorgio Napolitano resigns
i. In Italy, President Giorgio Napolitano has announced his retirement in a resignation letter.
ii. The President's role is mainly ceremonial, although he can choose a Prime Minister and dissolve Parliament.
iii. The power President possesses has been seen as crucial in recent years and Mr Napolitano was praised by some for using it to dismiss PM Silvio Berlusconi at the height of Italy's sovereign debt crisis in 2011.
6. Karnataka, SunEdison sign agreement
i.The Karnataka government and SunEdison have signed an agreement to develop 5 gigawatts of renewable energy within 5 years.
7. Inox Wind to set up wind turbine manufacturing facility in M.P
i.Gujarat Fluorochemicals subsidiary Inox Wind Ltd (IWL) will set up a single location integrated wind turbine manufacturing facility in Madhya Pradesh's Barwani district. The plant will be set up with an investment of over Rs. 300 crore
ii. Inox Wind Ltd (IWL) will set up 400 MW of projects in Madhya Pradesh making it the largest developer in the state.
8. BioAsia 2015 signed deal with Pharmaceutical Producers of India
i. The 12th edition of BioAsia 2015, the annual international life sciences conference has tied-up with the Organisation of Pharmaceutical Producers of India (OPPI) for co-oorganizinga meet on supply chain and logistics.
ii. With the support from OPPI, BioAsia 2015 scheduled to be held during February 2-4, 2015 would enable companies to identify new emerging market trends for a cost effective pharma supply chain management.
9. Hara Patnaik Veteran Odia actor passed away
i. Veteran Odia actor and director Hara Patnaik passed away following a brief illness in Bhubaneswar, Orissa. He was 56
10. Govt sanctions Rs 996 crore investment in Central Power Research Institute
i. Government has approved investment of Rs 996 crore for capital projects of Central Power Research Institute (CPRI).
ii. This will support augmentation of High Power Short Circuit Facilities as well as establishment of new test facilities in existing laboratories of CPRI.
iii. The investment would serve the growing needs of Research and Development in the Indian Power Sector including, development of advanced Testing Facilities, located at Bengaluru, Hyderabad, Kolkota, Guwahati, Noida and Nagpur. A new laboratory will also be established in Western Region at Nasik.
11. Pope Francis
declares Indian priest a saint
i. Pope Francis today addressed a holy mass of 5 lakh people at the Gall Face Green in Colombo and declared a 17th century Indian priest, Joseph Vaz, a saint of Catholic Church.
ii. Jospeph Vaz became a priest in 1676 in Goa, but then moved to Sri Lanka and worked for the revival of the Catholic Church in a period of Dutch repression of Catholics.
what will b effect of today's repo rate cut?
Is national income and gdp the same?
The Reserve Bank of India today cut the repo rate by 25 basis points from 8% to 7.75% with immediate effect ahead of its sixth bi-monthly policy review on February 3, 2015.This is the first repo rate cut since May 2013.
One basis point is one-hundredth of a percentage point.
Consequently, the reverse repo rate under the LAF (Liquidity Adjustment Facility) stands adjusted to 6.75 per cent, and the marginal standing facility (MSF) rate and the Bank Rate to 8.75 per cent with immediate effect.
The move is expected to bring down the borrowing costs in the economy, which the industry and the government believe is necessary to support the wobbly economic recovery.
Note: On Dec 2, 2014, RBI, in its fifth bi-monthly monetary policy statement, kept the key policy rates unchanged.
What is Repo Rate?
Ans - - It is the rate at which RBI lends money to the commercial banks in the event of any shortfall of funds.
Note: i. Repo rate is used by monetary authorities to control inflation.
ii. REPO rate is the rate of interest which RBI implements on the short term loans, i.e., from a period ranging between 2 days to 3 months (90 Days
What happens when RBI increase or reduce Repo Rate?
Ans - When the repo rate increases, borrowing from the RBI becomes more expensive.
Note: The increase in repo rates would mean that the RBI would charge a higher rate of interest for all money given out to various commercial banks.
ii. The bank in turn would be forced to charge its customers a higher rate of interest when it comes to home and auto loans to balance the higher interest rate.
Reduction in Repo rate means: A reduction in the repo rate will help banks to get money at a cheaper rate.
The bank in turn charges its customers a low rate of interest when it comes to home and auto loans.
So, while on the one hand, inflation is under controlled as there is less money to spend, growth suffers as companies avoid taking loans at high rates, leading to a shortfall in production and expansion.
Current Rates are as follows:
1. Repo Rate - 7.75% (Changed)
2. Reverse Repo Rate - 6.75% (Changed)
3. CRR (Cash Reserve ratio) - 4% (Unchanged)
4. Bank Rate - 8.75% (Changed)
5. MSF (Marginal Standing Facility) - 8.75% (Changed)
6. SLR (Statutory Liquidity Ratio) - 22% (Unchanged)
Which type of bank account is most profitable one for banks?
P.S.I m talking about saving/current/RD/fixed etc. types of accounts. This was the question asked to my in SBI clerical interview. I told them that CASA is the most profitable ones. But as of now I am not sure what should be the right answer to this. Some say Fixed deposit.
If anyone can provide an article (website or link) which easily explains how crude oil price is determined in global market,reasons behind recent crude oil price fall and it's likely impacts vis-a-vis India.
Thanks!
what is the role of bank po?
What are BASEL norms? What is BASEL 1,2 and 3?
What is financial inclusion and how it is helpfull for India?
What is financial inclusion and how it is helpfull for India?
how to answer if they asked, why ECGC as your first preference???
Hello Guys, If someone is around 28 years old, thn is it decrease his chances of selection ??
Hi guys...can someone help me understanding NDTL?
I mean I am clear with the concept of demand liabilities and time liabilities...but how do we arrive at a net figure? Thanks in advance!
reasons of falling crude oil prices in simple launguage
koi basel 2 aur 3 ke differences short mein explain karega?