(General Awareness For Bank's Exams) International Events

January, 2014

Iran and P5+1 Group of Nations clinched Nuclear Deal

Iran and P5+1 group of Nations reached a breakthrough deal on 24 November 2013 to curb Iran’s nuclear programme in exchange for limited sanctions relief. An agreement to this effect was signed at UN Headquarters in Geneva on 24 November 2013 between the Chief negotiator for the six nations, Catherine Marie Ashton and Iranian Foreign Minister Mohammad Jawad Zarief. The interim deal for six months is intended to give time and space to the international community to work towards a comprehensive agreement. After four days of negotiations, representatives o f P5+1 group of nations - the US, the UK, Russia, China, France and Germany - reached an agreement with Iran. The deal is intended as the first step in a six month process aimed at a permanent resolution to the decade-old global impasse over Iran’s nuclear programme, and heading off the
threat of a new war in West Asia. The Geneva deal also makes the way for releasing over 4 billion Dollars in Iranian oil sales revenue from frozen accounts, and suspends restrictionson the country’s trade in gold, petrochemicals, and car and plane parts.

In return, Iran undertakes to restrict its nuclear activities. Over the next six months Iran has agreed to:

1. Stop enriching uranium above 5 per cent, reactor-grade, and dilute its stock of 20 per centenriched uranium or convert it to oxide, which makes it harder to enrich further.

2. Not to increase its stockpile of low-enrichment uranium.

3. Freeze its enrichment capacity by not installing any more centrifuges, leaving more than half of its existing 16000 centrifuges inoperable.

4. Not to fuel or to commission the heavy-water reactor it is building in Arak or build a reprocessing plant that could produce plutonium from the spent fuel.

5. Iran will give greater access to inspectors including daily access at the Natanz and Fordo nuclear sites.In return, there will be no new nuclear-related sanctions for six months if Iran sticks by the accord.

Evidence of Slowdown in China’s Economy

• China’s economy showed clear signs of a slowdown in December, with business surveys across both manufacturing and services sectors weakening together for the first time in months.
• Four purchasing managers’ indexes—two compiled by the government and two by HSBC Holdings PLC—all dropped last month, the first time that has happened since April. The HSBC Services PMI,, fell to 50.9 for December, compared with 52.5 the month before. A figure above 50 indicates expansion, while below that level indicates contraction.
• HSBC’s privately collected manufacturing and services PMIs compete for the attention of markets with the government’s official measures. The PMIs are based on responses from thousands of companies about changes in business conditions. Taken together, the indexes suggest a softening of China’s economy.
• China looks set for gross domestic product growth of about 7.6% in the final quarter of 2013, down from 7.8% in the third, economists say. That slowdown partly reflects tightening credit conditions as China’s central bank tries to bring a rapidly growing debt pile under control.
• The seven-day repo rate, a benchmark of banks’ funding costs, reached 8.9% in December, its highest level in six months. With banks struggling to find liquidity, they are reluctant to extend credit to customers.
• All four PMIs remained in narrowly positive territory for December, indicating that expansion continues, albeit at a slow pace. But that masks difficulties for individual companies in some sectors. Conditions are worsening for small and medium-size businesses, according to the official manufacturing PMI. The subindex for large companies, which has performed best in recent months, also fell in December, though it remains above the 50 mark that separates growth from contraction.
• The data show manufacturers cut back stocks of both raw materials and finished goods, suggesting they are expecting weaker sales ahead.

Geneva II Syria Peace Conference

General on 25 November 2013 announced the Geneva-II peace conference is to be held on 22 January 2014. The international conference is aimed at a democratic political transition in Syria, which will bring the Government and the opposition to a negotiating table for the first time, since the conflict that started in March 2011. The decision was taken at a meeting of the UN special envoy on Syria, Lakhdar Brahimi with the Russian Deputy Foreign Minister, Mikhail Bogdanov and Gennady Gatilov along with the US under Secretary for political Affairs, Wendy Sherman in Geneva on 25 November 2013. The Geneva-II conference was termed as the mission of hope by Ban Ki Moon in which, the fighting has killed more than 100000 and driven almost nine million from their homes, left countless missing and detained and terrible violations of human rights. The goal of Geneva II would be to achieve a political solution to the conflict through a comprehensive agreement between the Government and the opposition for the full implementation of the Geneva communiqué, adopted after the first international meeting on the issue on 30 June 2012. The communiqué, which has been endorsed by the UN Security Council, lays out key steps in a process to end the violence. Among these, the establishment - based on mutual consent - of a transitional governing body with full executive powers, including over military and security entities.

Nepal Constituent Assembly elections

Nepali Congress (NC) emerged as single largest Party in the second Constituent Assembly elections which are held on 19 November 2013. The Communist Party of Nepal (Unified Marxist-Leninist) stood a close second position and the UCPN (Maoist) party is in a distant third position. Elections to the Constituent Assembly were held under two categories — first-past-the post and proportional representation. A total of 240 seats were allocated in the first category and 365 seats in the proportional representation category. The remaining 26 seats in the 601-member will be nominated by the Cabinet later. A total of 301 seats are needed for majority and to form a government. Nepali Congress Party wins 105 of the 240 directly elected seats followed by Communist Party of Nepal (United Marxist-Leninist) with 91 and the United Communist Party of Nepal (Maoist) with 26. The NC has also emerged a clear front-runner in both the electoral formats. It won 105 seats under the direct election of candidates and has so far bagged 26 per cent under the PR system. The CPN (UML) is a close second with 91 seats and 25 per cent, respectively. The largest party in the last assembly- the UCPN (Maoist) is in a distant third position. The previous assembly - elected in 2008 after the abolition of the monarchy - was won by the former rebels. But the Constituent Assembly (CA) was bitterly divided and failed to write a new constitution.

Shinawatra declared Emergency Law for Bangkok

Thailand Prime Minister Yingluck Shinawatra on 25 November 2013 declared a special emergency law for Bangkok after riot police and anti-government protesters scuffled in the capital city. The decision came after hundreds of anti-government protesters stormed into the finance ministry compound and later forced their way into the foreign ministry building. Anti-government protesters want Prime Minister to step down amid claims that her government was remote-controlled by her older brother Thaksin Shinawatra , who was forced to quit as prime minister in 2006. He has since lived in exile toavoid jail on a corruption conviction. The current political crisis is the most serious confrontation in Thailand since the 2010 bloody protests in which over 90 people were killed.

US exempted India and China from Iranian Sanctions

United States of America on 29 November 2013 exempted some countries, including India and China, from the tough Iranian sanctions for reducing their dependence on Iranian oil. Secretary of State, John Kerry announced in a statement in Washington that other countries which have significantly reduced the purchases of Iranian crude oil are the Republic of Korea, Turkey, and Taiwan and these have qualified for an exception to sanctions under the National Defence Authorisation Act. This move came after the decision made by US President Barack Obama that there is sufficient supply of non- Iranian oil for countries to continue to reduce import of oil from Iran. This is the fourth time that these countries have qualified for an NDAA exception as a result of their continued significant reductions in the volume of crude oil purchases from Iran or their end to such
purchases.

Abdulla Yameen sworn in as the President of Maldives

Abdulla Yameen has been sworn in as the 6th President of the Maldives on 17 November 2013. The Chief Justice of Maldives, Ahmad Faiz at a special session of the Parliament in Male administered the oath of office to Abdulla Yameen. Mohammad Jameel was sworn in as vice-President. Yameen (54) a candidate of Progressive Party of Maldives (PPM) secured 51.39 percent of votes, whereas the opposition leader and the former
President Mohamed Nasheed received 48.61. Election Commission of Maldives, declared the results of the election on 16 November 2013 in which it declared Yameen, the half-brother of former autocratic ruler Maumoon Abdul Gayoom as the President elect. Abdulla Yameen’s sworn in has ended the two years of political turmoil that was threatened to isolatethe country internationally. The Maldives was witnessing the political
turmoil, since Nasheed resigned under pressure in February 2012because of a controversial transfer of power.

China Set up Air Defence Zone over East China Sea

China on 23 November 2013 announced that it was set up an Air Defence Identification Zone over an area in the East China Sea. The Zone includes Senkaku islands that are controlled by Japan but claimed by China. In this regard, the Chinese Defense Ministry issued a map of an East China Sea Air Defense Identification Zone including a chain of disputed islands. The zone came into effect from 10:00 local time from 23 November 2013. China also issued a set of rules for the zone, saying all aircraft must notify Chinese authorities and are subject to emergency military measures if they do not identify themselves or

Recruitment Project For 2014-15

Recruitment Notification For Specialist Officers

Union Bank of India, a leading listed Public Sector Bank with Head Office in Mumbai and having Pan India and Overseas presence, invites ON LINE applications.

Economist

Total Posts :02

Salary : Rs.19400-700/1-20100-800/10-28100

Age Limit : Minimum 21 and Maximum 35.

Education Qualification:

• A Graduate Degree in any discipline with 60% marks (55% for Reserved Category candidates - applicable to the posts reserved for them) from a University/Institution/Board recognized by Govt. Of India/approved by Govt. Regulatory Bodies. And
• A Post Graduate Degree in Economics / Econometrics with 55% marks (50% for Reserved Category candidates - applicable to the posts reserved for them) from a University/Institution/Board recognized by Govt. Of India/approved by Govt. Regulatory Bodies. And
• A Certificate for having completed a Course in Computer Awareness and Office Automation for duration of minimum 60 hours from a reputed Computer Training Institute, which will be waived where 'Computers' is a part of the curriculum at the Graduation / Post-Graduation Level.

Post Qualification Work Experience:

A minimum of 3 years Post-Qualification work experience as an Economist/ Economic Officer/ Research Officer / Economic Analyst or equivalent in Scheduled Commercial Bank/ Public Sector Undertaking / Private organization in financial sector including mutual funds, insurance companies, brokerage house etc.

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Educational Qualifications:

SBI PO 2014 : HOW TO APPLY ONLINE – A Step by Step Guide to avoid Mistakes

A. For Immediate Attention

1. Normally, heavy rush for applying is seen towards the last date. This may result in System congestion. Apply early to avoid the rush and disappointment.

2. Be aware of these Important Dates:

B. Before Actual Registration of Application

1. From site www.statebankofindia.com or  http://www.sbi.co.in/user.htm, take a printout of the 2014 Notification and keep it handy; you will have to refer it frequently. On this Notification printout itself, identify and mark the important instructions as applicable to you. Keep crossing them out, as you attend to them one by one
    

2. Candidates serving in Govt./Quasi Govt. offices, Public Sector undertakings including Nationalised Banks and Financial Institutions have to submit a  'No Objection Certificate' (NOC) from their employer at the time of interview. So, such candidates, should better obtain NOC now itself, to avoid complications later.

3. Ensure that you have not crossed the number of chances mentioned in item 9 of the Notification. Counting of chances is from the exam held on 18-04-2010.

4. Ensure you have a valid email ID which should be kept active till the declaration of results. It will help you in getting call letter / interview advices etc. by email.

5. Decide on the Mobile number you have to provide during the Registration process. Bank will send SMS / Alerts to this mobile number only. Please retain this mobile number till the final results are announced.

6. Refer item 1 of the Notification and ensure you satisfy the Eligibility criteria regarding (a) Academic Qualifications (b) Age and from item 2 of Notification (c) Age relaxations if applicable (d) Degree of disability if applicable (e) Availability of Scribe / Writer if proposed to be used.

7. The date of passing eligibility examination is on or before 10-08-2014.  For this purpose, it will be the date appearing on the mark sheet or provisional certificate issued by the University / Institute. If the result of a particular examination is posted on the website of the University / Institute, then a certificate issued by the appropriate authority of the University / Institute indicating the date on which the result was posted on the website is the date of passing. Please keep the Date of Passing, ready.

8. Those in final year of Graduation / Semester may also apply provisionally subject to the condition that, if called for interview, you will have to produce proof of having passed the graduation examination on or before 10.08.2014.

9. From Item 3 of the Notification, identify the Code relating to the Reservation Category you are eligible for, if any. Here, please note:-

10. 'Creamy layer' OBC candidates should indicate their category as 'General'.

11. If Reservation under any category is claimed, necessary proof / certificate will have to be produced at the time of Interview. So, DO NOT apply under a wrong Category / Quota. If you are not able to produce it then, you may not be permitted to appear for Interview.

12. See item 7 of the Notification and ascertain the Fee payable by you. It is Rs.100/ for SC / ST / PWD (Persons With Disabilities) candidates, and Rs.500/- for all other candidates

13. Decide how you wish to pay the Fee – Offline (From 2nd working day after registration and within three working days at any branch of State Bank of India.) OR Online

14. If you propose to pay the Fee online, keep readily available, the Credit Card / Debit Card / Internet Banking Account details you propose to use

15. Refer item 8 of the Notification and see if you are eligible for any Pre-Examination Training, and if so, note down from the list, the centre where you propose to avail the Training.

16. See Item 11 and Annexure I of the Notification and strictly abide by the instructions therein regarding Photograph and Signature. Scan them as per the instructions and keep the scanned copies readily available in your computer for uploading

17. Banking is traditionally a conservative profession. Ensure that for the photograph, you are groomed, dressed and attired conservatively.

18. See item 12 of the Notification and note your preferred centre for the Examination and the Code number of the State to which it belongs.

C. Online Registration of Application

(General Awareness For Bank's Exams) National Events

January - 2014

Amendment of Article 371(D) is needed for bifurcation of Andhra Pradesh

The Union Law Ministry on 14 November 2013 told to the Group of Ministers (GoM) about the necessity of amendment of Article 371 (D) of the Constitution of India for bifurcation of Andhra Pradesh. The Article 371D of Constitution of India writes Special provisions with respect to the State of Andhra Pradesh. Twothird majority of Parliament will be needed for the passage of the constitution Amendment Bill, which will be the biggest political inference in passage. The GoM will seek the advice of Goolam Vahanvati, the Attorney General before they proceed with the Bill. As they want to enquire that a single bill on bifurcation is sufficient or a separate
bill will be required to be amendment.

RBI buying dollars in spot market & selling it in forward market to stabilise rupee

• The Reserve Bank of India, under Governor Raghuram Rajan, seems to have changed its strategy when it comes to defending the fragile rupee and managing liquidity.

• The central bank, which earlier used to sell dollars in the local markets, is now increasingly buying the US currency in the spot market and selling it in the forward market. The revised strategy seems to be having a bearing on the non-deliverable forwards, or NDF, market.

• The move, experts say, is aimed at not only stabilising the local currency but also managing liquidity, as there was a surge in inflows after banks were allowed to swap Foreign Currency (Non-Resident) Accounts (Banks), or FCNR (B), proceeds for a premium.

Sebi tightens norms

• Tightening norms for issue of participatory notes (P-Notes) by overseas investors, Sebi has barred "unregulated" foreign funds from dealing in offshore derivative instruments even if their investment managers are appropriately regulated by their concerned regulators.

• The guidelines, which are part of the newly notified Foreign Portfolio Investor (FPI) Regulations, have come into force with immediate effect. They provide for stricter oversight of P-Notes, the preferred route for overseas high net worth individuals (HNIs) and hedge funds for investing in the Indian market.

• Earlier, according to the draft regulations by the Securities and Exchange Board of India, it had been proposed that only 'Category-III,' or high-risk foreign investors, would be barred from issuing P-Notes.

• However, the gazette notification that brought the FPI guidelines into force also prohibits certain entities under 'Category-II,' or medium-risk investors, from issuing P-Notes.

• P-Notes, or offshore derivative instruments, are mostly used by overseas HNIs, hedge funds and other foreign institutions to invest in Indian markets through registered foreign institutional investors (FIIs), while saving on time and costs associated with direct registrations.

• The new FPI regime has classified foreign investors into three groups based on their risk profile and would eventually replace existing categories such as FIIs, their sub-accounts and qualified foreign investors.

• Category-I FPIs, entities with the lowest risk, would include foreign governments and government-related foreign investors.

• Category-II FPIs would include appropriately regulated broad-based funds, university funds, university-related endowments and pension funds, among others.

• Category-III FPIs would include all others not eligible under the first two categories.

Land transfer for Dr B. R.Ambedkar Memorial approved

Union Cabinet on 25 November 2013 approved a proposal to transfer Indu Mill land in Mumbai to Maharashtra government for constructing Dr B R Ambedkar memorial. The decision was taken in the meeting of the Cabinet chaired by the Prime Minister Dr Manmohan Singh. It would empower the Centre to acquire certain area of the Mill belonging to National Textile Corporation Limited in Mumbai for facilitation of construction of the memorial. Over 48000 square metres of land will be acquired for the purpose. According to the cabinet note, NTCL will be paid 45.77 crore rupees for the land. In this regard, Dr. B R Ambedkar Memorial Bill, 2013 is likely to be introduced in Parliament in the winter session beginning on 5 December 2013. The legislation is aimed at empowering the Central government to acquire a portion of the land belonging to the National Textile Corporation Limited (NTCL) for facilitation of the construction of a memorial for Ambedkar. The ashes of Dr Ambedkar are interred at Chaitya Bhoomi, which is situated in the vicinity of the Indu Mill.

India's growth will be over 6% in 2014-15: World Bank

• The World Bank has projected India's economy will grow over 6 per cent in 2014-15 and 7.1 per cent by 2016-17 as global demand recovers and domestic investment increases.

• In China, growth is estimated to stay flat in 2014 at 7.7 per cent, slowing to 7.5 per cent for the next two years, reflecting deleveraging and less reliance on policy-induced investment.

• Global GDP growth may firm up to 3.2 per cent this year from 2.4 per cent in 2013, stabilising at 3.4 per cent and 3.5 per cent in 2015 and 2016, respectively, the World Bank said in its Global Economic Prospects (GEP) report released

India declared itself free from Bird Flu

India on 12 November 2013 declared itself free from Notifiable Avian Influenza (H5N1), commonly called bird flu and notified the same to World Organisation for Animal Health (OIE). India notified the outbreak of the Avian Influenza (H5N1) at poultry production unit, College of Veterinary Sciences and Animal Husbandry, Anjora, Durg and Government Poultry Farm, Jagdalpur, Chhattisgarh on 05th August, 2013. The control measures adopted in the outbreak was taken in form of stamping of the entire poultry population and it included the destruction of eggs, litters, feed and other infected materials within the radius of one kilometer around the
location of the outbreak, restriction of the poultry movement, disinfection and cleaning up of the infected premises and subsequently issuing of the Post Operation Surveillance Plan (POSP). On 12 August 2013 the POSP was issued. Although India is free from the bird flu, but regular surveillance will be continued across the country especially in the vulnerable areas that is bordered by the infected countries and in areas which are visited by migratory birds.

RBI reference rate

• The Reserve Bank of India fixed the reference rate of rupee against U.S. dollar at 61.3518 and the euro at 83.5223 as against 61.5325 and 83.8395.

• In a press release issued by RBI, the exchange rates for the pound and yen against the rupee were quoted at 100.2120 and 58.78 per 100 yen, based on reference rates for the dollar and cross-currency quotes at noon.

• The reference rate is based on the noon rates of select banks here and the SDR-Rupee rate would be based on this rate.

Bharat Ratna for Tendulkar on Feb 4

• Sachin Tendulkar will be conferred with the Bharat Ratna on February 4 at the Rashtrapati Bhavan in New Delhi by President Pranab Mukherjee.

• Tendulkar, who retired from international cricket on November 16 after an illustrious career spanning 24 years, is also a Member of Parliament in the Upper House. The Rashtrapati Bhawan announced the award for Tendulkar on the day he retired, making him the first sportsman get the honour.

• Tendulkar, who called it a day after his historic 200th Test match will receive the award along with eminent scientist Professor CNR Rao. Many believed hockey legend Dhyanchand should have got the Bharat Ratna ahead of any other sportsman but when Tendulkar's name was announced, few disagreed on the historic nomination.

• The last recipient of the Bharat Ratna was legendary musician Bhimsen Joshi back in 2009.

FDI in high-speed trains, other projects

• The government is likely to allow Foreign Direct Investment in high-speed trains and other projects including development of rail lines between project sites and existing network.

• Besides, proposing 100 per cent FDI through automatic route in the cash-starved railway sector, the Department of Industrial Policy and Promotion (DIPP) has also proposed to de-licence and de-reserve few areas of the sector.

• However, FDI will not be allowed in train operations and safety. At present, there is a complete ban on any kind of foreign direct investment (FDI) in the railways sector except mass rapid transport systems.

• According to the proposal, foreign investment would also be allowed in suburban corridor, high speed train systems and dedicated freight line projects implemented in PPP mode.

• It has also suggested widening the definition of ‘infrastructure’ by including railway line and railway sidings.

• As per the proposal, foreign companies would be allowed to pick up 100 per cent stake in the special purpose vehicle (SPV) that will construct and maintain rail lines connecting ports, mines and industrial hubs with the existing rail network.

• First-to-last mile connectivity would mean smooth movement of raw materials from mines to ports.

• The move will help in attracting more and more FDI besides development of infrastructure for industrial purposes.

• Indian Railways has been facing a cash problem. Industrial development and exports have been suffering on account of poor infrastructure which hampers output and raises the cost of production.

• Welcoming the development, experts said the government should come out with clear rules for Public-Private-Partnership (PPP) projects.

Sebi’s focus areas for 2014

• Looking to safeguard the interest of small investors and overall market place, Sebi has identified a greater oversight mechanism on insider trading and a stronger risk management framework as among key focus areas for 2014.

• Sebi is currently in the process of overhauling its nearly two decade old insider trading norms, pursuant to which those indulging in unlawful insider trading activities would be dealt with severely.

• Many new categories of persons, including public servants, regulatory officials, judiciary and government officials dealing with unpublished price-sensitive information are being brought under the purview of insider trading.

• At the same time, new norms would also seek to clearly differentiate between 'innocent mistakes' and genuine transactions of company executives from the unlawful and serious trading offences.

• Often, comparisons have been made between regulatory action against insider trading in India and the US, where some high-profile cases including that of former banker Rajat Gupta has come to light in recent months.

MoU between Sports Ministry & Department of AIDS Control

The Union Ministry of Youth Affairs and Sports on 29 November 2013 signed a Memorandum of Understanding (MoU) with Department of AIDS Control. The MoU was signed between Secretary, Department of Sports Ajit M Saran, and Secretary, Department of AIDS Control, Lov Verma, in New Delhi. The MoU’s objective is to “reach a large number of youth engaged in sports activities” at village, district and state level with information on STI/HIV/AIDS prevention and related services. Other objectives included building the capacity of sports educators, administrators and coaches on “Minimizing the risk of HIV transmission on and outside the sports field, involve youth organisation, sports federations in HIV/AIDS prevention activities, promote awareness generation through hoarding and banners at eminent places and sports infrastructure during state/national events and tournaments, and involve eminent sports personalities for addressing social stigma and discrimination associated with HIV/AIDS. For fulfillment of objectives of MOU, the Department of Sports would issue directives to Sports Authority of India (SAI), National Anti Doping Agency (NADA), Lakshmibai National University of Physical Education (LNUPE), National Sports Federations (NSFs) and other sports bodies for creating awareness. The Department of AIDS Control provide technical support in capacity building on HIV/AIDS for sportspersons, trainees and staff of sports organisations and federations, by sharing of Information Education and Communication (IEC) materials for awareness generation activities.

RBI to ease liquidity

• The Reserve Bank of India (RBI) has decided to ease the liquidity conditions by purchasing Rs 10,000 crore of government securities under Open Market Operations (OMOs) on January 22. This would be the first OMO auction since the last two months.

• Lately, the liquidity conditions had tightened in absence of government spending. For current financial year, the government aims to contain fiscal deficit at 4.8% as strongly emphasized by the finance minister, P Chidambaram, recently. This may lead to cuts in planned expenditure as was the case last financial year when the government managed to keep fiscal deficit was at 4.9% of gross domestic product.

• According to RBI, there has been a build-up of government’s cash balances which may not be utilized in order to meet the fiscal deficit target for this financial year too. This would, in turn, impact credit growth.

• The government’s cash balance with RBI shot up to around Rs 51,000 crore in December owing to advance tax collections. The central bank has been conducting 7-days, 14-days and 28-days term repo auctions in order to address the liquidity crunch.

• The central bank has projected credit growth of 15% and deposit growth of 14% for the current financial year. So far, banks have been able to clock 9.4% of growth in advances and 11.1% in deposits since the start of this financial year.

• Liberalising the export-import payment norms, the Reserve Bank has extended the time limit to complete such transactions to nine months from six months earlier.

National Portal on Maulana Abul Kalam Azad launched

Union Minister of Minority Affairs K Rahman Khan on 11 November 2013 launched a National Portal on Maulana Abul Kalam Azad. The portal was inaugurated to mark 125th birth anniversary of the great national
leader- Maulana Abul Kalam Azad. Maulana Abul Kalam Azad, (11 November 1888 – 22 February 1958) was a scholar and a great Indian freedom fighter, an eminent educationist and the first Education Minister of India. He was one of the greatest national leaders of his time in the cause of Hindu Muslim unity as well as secularism and socialism.

China grows 7.7 per cent in 2013

• China's economy grew 7.7 per cent in 2013, the lowest in 14 years, with tapering growth in the last quarter underlining the challenges faced by the world's second-largest economy as it grapples with rebalancing and reviving a slowing down economy.

• This marks the slowest growth since 1999, when China grew 7.6 per cent. The previous decade saw record double-digit growth, with the country defying the global slowdown to grow 10.4 per cent in 2010 as it unveiled a massive $ 586 billion stimulus.

• Growth slowed in the fourth quarter to 7.7 per cent, down from 7.8 per cent in the previous quarter. This brought annual growth to 7.7 per cent, down from last year's 7.8 per cent.

• Ma Jiantang, head of the National Bureau of Statistics (NBS), attributed the slower growth to a “complex and severe situation” at home and abroad, as he announced last year's data.

• Data showed the government had made modest progress in its goal of transforming the State-led investment model and boosting domestic consumption, services and innovation industries.

MCX-SX starts Interest Rate Futures

• The MCX Stock Exchange (MCX-SX), on Monday, started live trading in cash-settled Interest Rate Futures (IRF) in its Currency Derivatives Segment, which witnessed a turnover of Rs.928.39 crore.

• “Among the first to trade on the product were IDBI Bank and ICICI Securities Primary Dealership Ltd from the institutional side and the East India Securities Ltd from the intermediary side.

• The product witnessed turnover of Rs.928.39 crore on the exchange, with total traded volume at 45,642 lots. At the end of trading day, the Open Interest (OI) position stood at 10,690 lots,” MCX-SX said in a release.

About the National Portal

This portal is an initiative to digitise the heritage of the Maulana Abul Kalam Azad, and make his life and legacy available online. Along with a biographical account on Maulana Azad, the portal contains titles and information on over 20 books written by Maulana Azad, in Urdu and English, as well as information on over 45 books written on Maulana Azad in Urdu, Hindi and English. Portal also contains over 60 photographs some of which are with contemporaries like Pandit Jawaharlal Nehru, Mahatma Gandhi, C Rajagopalachari amongst others. The portal also has excerpts of rare writings by Maulana Azad – his address on the Mahatma’s Birthday on All India Radio, his message on the day that marked the anniversary of the JallianwalaBagh massacre, his insights on the history of philosophy – to name a few. Additionally, the portal enlists the institutions, scholarships and other initiatives named after the leader. The portal is a collaborative effort by the Union ministry of minority affairs, the Office of Advisor to the Prime Minister, the National Commission for Minorities, the Ministry of Culture). The national portal www.maulanaazadheritage.org a one stop point collating all knowledge and resources available on Maulana Azad, is now available to the public.

India's average economic growth 7.7 %

• A report card titled '10 Years of Progress and Growth' highlighting achievements of the government led by Prime Minister Manmohan Singh said that average GDP growth rate during the period of UPA government (2004-05 to 2013-14) has been 7.7 per cent despite two global slowdown in this period.

• India's average economic growth rose to 7.7 per cent in the 10-year regime of the UPA government as compared to 6.2 per cent recorded in the previous decade, report says.

• Agriculture growth rate has been rising consistently and the sector expanded by 2.5 per cent and 3.7 per cent during the 10th and 11th Five Year Plans, respectively, and expected to touch 4 per cent in the ongoing 12th Plan period.

• It further said the country's GDP at the current price has increased almost three times to Rs 100.28 lakh crore during the last nine years from Rs 32.42 lakh crore in 2004-05.

• Similarly, per capita income has risen almost three-fold during the period. The per capita income has gone up to Rs 68,747 in 2012 from Rs 24,143 in 2004, the report card said.

• Referring to large projects, it said the UPA government has expedited and cleared as many 293 projects involving investment of Rs 5.7 lakh crore in 2013.

• It said that in the last two years, 80,000 micro enterprises have been supported by Prime Minister's Employment Generation Programme, creating job opportunities for 9.23 lakh people.

ADVERTISEMENT NO. CRPD/PO/2014-15/01

Recruitment of 1800+ Probationary Officer in SBI - 2014

Applications are invited from eligible Indian Citizens for appointment as Probationary Officers (POs) in State Bank of India. Candidates selected are liable to be posted anywhere in India.

Probationary Officers (POs)

Total Posts: 1837

Salary : The starting basic pay is 16,900/-(with 4 increments) in the scale of Rs,14500-600/ Rs. 7-18700-700/2-20100-800/7-25700 applicable to Junior Management Grade Scale I.

The official will also be eligible for D.A, H.R.A & C.C.A as per rules in force from time to time. The compensation per annum at Mumbai is around 8,40,000/-. The break up of  monthly compensation is as under:
Cash Component 34,320/- Rs.Bank's contribution to PF 1,690/- Rs. Housing (Lease Rental) 29,500/- Rs. Perquisites (Conveyance, Newspapers, Entertainment allowance, House & Furniture Maintenance etc. 4,130/- Rs. In addition, the officers are also entitled to other benefits like –

1. Medical Aid for self (100%) and for family (75%)
2. Home Travel Concession/Leave Fare Concession
3. Concessional Interest Rates for Housing/Car/Personal Loans

The salary scales are under revision with effect from November 2012.

Essential Academic Qualifications:

• Essential Academic Qualifications : (AS ON 10.08.2014) Graduation in any discipline from a recognised University or any equivalent qualification recognised as such by the Central Government.
• Those who are in the Final year of their Graduation/Semester may also apply provisionally subject to the condition that, if called for interview, they will have to produce proof of having passed the graduation examination on or before 10.08.2014. Candidate having integrated dual degree (IDD) certificate should ensure that the date of passing the IDD is on or before 10.08.2014.

Age Limit: As on 01.04.2014: Not below 21 years and not above 30 years as on 01.04.2014 i.e candidates must have been born not earlier than 02.04.1984 and not later than 01.04.1993 (both days inclusive)

Application Fee And Intimation Charge: (Non Refundable)

• For SC / ST / PWD : Rs.100/- (Intimation Charges only)
• For General and Others : Rs.500/- (App. fee including intimation charges)

Number of Chances:

• General : 04
• General (PWD): 07
• OBC : 07
• OBC (PWD) : 07
• SC/ SC (PWD)/ ST/ ST (PWD) : No Restriction

In respect of General (PWD), OBC & OBC (PWD) candidates chances will be counted prospectively from the examination held on 18.04.2010

How To Apply

Candidates will be required to register themselves online first through Bank's website www.statebankofindia.com or www.sbi.co.in. After which candidates are required to pay the requisite application fee through one of the following mode-

Offline mode (the system will generate a cash voucher/ challan form pre-printed with the candidate's details which will be required to be presented at any State Bank of India branch counter with the requisite fee. On payment of the requisite fee through computer generated challan form, registration of the online application will be complete).

Online mode (the payment can be made by using debit card/ credit card/ Internet Banking).Pre-requisites for Applying Online Candidates should have valid email ID which should be kept active till the declaration of results. It will help him/her in getting call letter/interview advices etc. by email.

• Option- I : Payment of Fee (Offline)
• Option- II: Payment of Fees : (Online)

Important Dates:

• Online Registration of Application : 07.04.2014
• Payment of Fees - Online : 07.04.2014 To 25.04.2014
• Payment of Fees - Offline : 10.04.2014 To 28.04.2014
• Examination will be conducted tentatively in June 2014

Website : http://www.statebankofindia.com

SBI PO Exam Paper Trend Analysis

SBI Bank PO exam is seen as one of the most sought after exams among the Indian youth. Thus, no wonder that about 15,00,000+ candidates take the exam every year.

As per the notification of the exam, it is conducted in two phases:

Phase-I- consists of Two separate tests:

Objective Test of 200 marks, comprising of 4 sections- English Language, Reasoning, Data Interpretation and General Awareness+Computers+Marketing Knowledge. The test duration is 2 hours, and the total number of questions are 200 (50 from each section).

Also, the notification makes it clear that, in order to qualify for the further stages of the exam, it is mandatory to qualify in each of the sections of the objective paper. The qualifying marks are decided by the SBI each year. Thus, it is necessary that you practice on different sections well. Because, doing very well in some sections, while not being able to answer the sufficient number of questions, can break your dream.

Descriptive Test of English language, comprising of Essay writing, precise writing, letter writing and comprehension. The paper carries 50 marks. However, the evaluation for this paper is conducted only for those candidates who qualify in the objective test.

Phase II- it includes two rounds:

Group Discussion (GD)- which is of 20 marks.

Interview- of 30 marks.

The Candidates need to qualify both- phase I and phase II separately.

For the final merit list, the marks secured in the Written Test (out of 250 marks) are converted to out of 75, and marks secured in GD and interview are converted to out of 25.

The final merit list is prepared after aggregating the converted marks of Written test and GD and Interview (out of 100) for each category. The final selection is made from the top merit ranked candidates in each category.

Trend Analysis of Objective Test

Over the years, there have been few changes in the trends of the questions asked in the SBI PO exam. A general analysis of the SBI PO papers of 2010 and 2013 show that- while the diversity of the questions have been limited in the recent exams, the level of difficulty has gone up.

BANKEXAMPORTAL .COM presents an analysis of the SBI PO exam of 2010 and 2013:

A) English Language

The Paper of 2010 included about 15 questions (30%) from the Comprehension section. While the other parts were evenly divided among different constituents of the section. Here is the pictorial representation of the weightage given to different parts of the English paper.

In contrast, the SBI PO exam of 2013 had a greater proportion of the Comprehension part. Out of the 50 questions from English Language, the comprehension part had 20 questions (40%). Also, there were no questions on Idioms and Phrases. However, the weightage of other parts was more or less similar to that of the previous year paper.

Here is a pictorial representation of the analysis of the English Language section of 2013 exam.

Please note that, since a good amount of proportion is given to the Comprehension part, it might not be much useful to spend much time in books for English. Rather, you must work on your skills, instead of mugging things up.

Institute of Banking Personnel Selection

Quantitative Aptitude

Applications are invited For Recruitment for The Post of Chief Security Officer (CSO)

Chief Security Officer (CSO)

Institute of Banking Personnel Selection

Reasoning

State Bank of India

Admit Card For Specialist Officer Examination 2014

Click Here To Download Admit Card

Courtesy : SBI

Among the Banking sector, the SBI PO is seen as the most reputed and alluring to the candidates. Thus, no wonder that every year about 15,00,000+ candidates take the SBI PO examination.

SBI has released the notification for the recruitment of Probationary Officers (PO) for the year 2014. Online registration and payment has started from 07-04-2014, and is open till 25-04-2014, while the Offline Payment can be made between 10-04-2014 to 28-04-2014.

The exam is tentatively scheduled for June 2014. However, the final date will be announced by the SBI Recruitment Cell later.

This year's SBI PO exam has something special for the candidates, as the number of vacancies, as notified by SBI, are as large as 1837.

Vacancy Structure and Distribution :

Eligibility Criteria :

1. Essential Academic Qualifications- as per the SBI notification, the candidates, applying for the SBI PO exam should atleast hold a graduate degree from a recognized university or any equivalent qualification recognized as such by the Government. However, those who are in the final year of their Graduation may also apply, subject to the condition that if called for interview, they will have to produce the proof of having passed the graduation examination on or before 10-08-2014.

2. Age Limit- the minimum age eligibility to appear for the SBI PO is- not below 21 years, and not above 30 years, as on 01-04-2014. however, there are certain age relaxations for the candidates belonging to different categories, which shall be dealt with in our further articles.

Candidates should carefully fill the registration form as no changes are allowed once the form has been submitted.

Selection Procedure :

The SBI PO examination is conducted in two stages :

Phase 1- Examination consisting Objective Tests for 200 marks and a Descriptive Test for 50 marks.

Please note that the Objective Test, from this year, would be conducted online, instead of the traditional OMR forms. However, immediately after the online test, the Descriptive test would follow. The descriptive test would be done on traditional lines, that is, through paper-pen mode.

Objective Test- Broadly, the objective test is divided into 4 sections, each of 50 marks-

1. English Language- Grammar, Vocabulary, Comprehension etc.
2. General Awareness, Marketing and Computers
3. Data Analysis and Interpretation
4. Reasoning- High Level.

Please note, that the candidates require to qualify in each of the section, in order to qualify the test. The qualifying marks are to be decided by the Bank itself.

Descriptive Test- the time duration of the descriptive test is 1 hour, and comprise of 50 marks. It is a test of English Language- Comprehension, Short Precis, Letter Writing and Essay.

Please note that the descriptive test of only those candidates is evaluated who secure the passing marks in the Objective test.

Phase II- Group Discussion (20 marks) and Interview (30 marks)

the aggregate marks of the candidates, qualifying in the objective and descriptive tests are arranged in the descending order in each category. Thereafter, an adequate number of candidates are called for Group Discussion (GD) and Interview. However, the qualifying marks for both- GD and interview are decided by the SBI.

Final Selection :

The Candidates need to qualify both- phase I and phase II separately.

For the final merit list, the marks secured in the Written Test (out of 250 marks) are converted to out of 75, and marks secured in GD and interview are converted to out of 25.

The final merit list is prepared after aggregating the converted marks of Written test and GD and Interview (out of 100) for each category. The final selection is made from the top merit ranked candidates in each category.

SBI PO Salary and Allowances :

as per the SBI notification, the pay scale of a PO is 14,500-25,700 with four increments applicable to a Junior Management Grade Scale-I. This basic salary is apart from the DA, HRA, CCA and other allowances given to the bank employees. Overall, an approximate annual package of the SBI PO reaches Rs. 8,40,000/- per annum.

SBI PO is also entitled to allowances like- medical aid for self and family; home travel concession and leave fare concession; and concessional interest rates for housing/car/personal loans.

Apart from all this, the salary and other allowances are periodically revised. Overall, the salary and emoluments of a SBI PO are very attractive.

HOW TO APPLY ?

Apply Online : click here to go to the online registration page.

Please note that from this year, the objective test would be conducted online. Thus, please make yourselves comfortable with the computer, to avoid last minute hassles.

SBI PO Career Path :

The job of a Probationary Officer provides great career development opportunities. The PO is initially put on a probation of two years, during which they are given intensive training. Towards the end of their probation/training period, they are subjected to a screening process.

Under the screening process, the candidates are evaluated again, and the ones getting the predetermined merit are given a permanent placement in the next higher grade, that is Officer Middle Management Grade Scale II. Others who qualify the test but fail to achieve the standards set for the Middle Management Grade Scale II are confirmed as Officer Junior Management Grade Scale I. The service of those officers who fail to qualify in this process is terminated.

BANKPOCLERK.COM would soon come up with more details and analysis of the SBI PO notification. In the meanwhile, we wish the candidates,  ALL THE BEST!!

© BANKEXAMPORTAL.COM

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HOW IS THE SBI PO TEST DIFFERENT FROM IBPS PO TEST , AND WHY ?

Let us take a look at the Selection Process of the coming SBI PO Test and see how it is different from that of the recent IBPS PO Test.

The Main Differences are :

• For the two hour Online Test, IBPS had five sections with varying maximums; but SBI has only four sections, all with equal maximums of 50 marks each.

• For SBI, Test of Reasoning will be at a higher level than what is normally asked by IBPS.

• IBPS Test of Quantitative Aptitude is mainly Arithmetic. For SBI, the corresponding Test is Data Analysis & Interpretation with emphasis on Analysis and Interpretation of data (Tables, charts, Graphs, Reports etc.), using applications of the Arithmetical principles of Averages, Ratios, Proportions, Percentages etc.

• For IBPS, General Awareness and Computer Knowledge are separate sections and the Test of General Awareness is mainly on Banking. SBI has a single  combined section of General Awareness, Computers and (additionally), Marketing. SBI does not require any special knowledge of Banking.

• IBPS did not have any offline Descriptive Test, SBI has an offline pen & paper Descriptive Test paper of one-hour duration on English Language comprising of (a) comprehension, (b) short précis, ((c) letter writing and (d) essay writing.

• After the Tests, SBI puts the short-listed candidates, through a Group Discussion exercise before personally interviewing them.

• Having seen how the SBI Test differs from that of IBPS, let us now try to understand SBI’s Rationale for being Different. Understanding these rationales will help us in preparing our Strategies for the Tests.

• The Probationary Officers being recruited by SBI are not to be mere officers in the Bank, performing routine functions. It is from among this group, that the Leaders and Senior Executives of the Bank have to emerge. SBI therefore wants these entry-level officers to be the best in all respects; hence the rigorous Selection Process.

• An Executive is very often required to take decisions within a limited time, objectively, rationally and fully analysing and understanding the issue at hand, and being fully aware of all the pros and cons of his decisions. This is all the more important in the Customer-oriented Banking Industry. The requirement calls for an intellectual capacity of the highest order, with sharp analytical powers and Reasoning. Hence SBI’s High Level Reasoning Test which also tests other qualities an Executive requires – Observation, Understanding, Patience, Time Management, Prioritisation, Stress Management etc.

• More than Arithmetic, it is the large volume of Data that a Bank Executive has to deal with. Ability to Read, Interpret, Analyse, Consolidate, Surmise etc. the large volume of data in the form of Reports, Tables, Charts, and Graphs is an important attribute. Hence the stress on Data Analysis and Data Interpretation, in preference to a Quantitative Aptitude Test. Of course, a minimum number of Arithmetic questions can be expected.

• All banks have several schemes / products under Deposits, loans, services, IT enabled services, cross-selling, etc. The banks compete among themselves to sell their products in the market & to attract the best customers. These products require to be marketed to the right target groups projecting the USPs of the products. Knowledge of the sound principles of Marketing will be a great advantage here. Hence, this knowledge is sought to be tested. 

• A person just entering the Banking Industry does not have any worthwhile knowledge of Banking, except to the extent expected of a lay person keenly interested in the day to day Banking and Financial matters. So, Banking is part of General Awareness, including Current Affairs. The Test of General Awareness thus comprises of Current Affairs including Banking, Marketing and Computers.

• Effective Communication is an essential quality of any Leader or Executive. Mere knowledge of Grammar will not suffice. Hence, in addition to the objective Test on Grammar, a Descriptive paper on English Language is also included - Comprehension tests your ability to grasp and understand the given passage; Short Precise tests your ability to prepare short summaries for your superiors; Letter Writing tests your ability to precisely and effectively communicate a matter to the addressee and, Essay writing reveals how systematic your thought process is, and tests your ability to present your thoughts in a coherent manner.

• While the Descriptive paper tests the writing ability, oral capability, another essential requirement for a Leader / Senior Executive, is tested in the Group Discussion exercise. The Group Discussion tests Leadership capabilities, Listening skills, Ability of working in a Team, Interpersonal & Communication skills, Expressing views & opinions, Organising thoughts,  Command of language & Fluency, Tact & skill in dealing with others, Body language, Analytical and Rational Thought Process, Behaviour under stress, Receptivity to others’ views, Flexibility & adaptability in GD Dynamics, Thought leadership, etc.

Having understood the Test Pattern and its Objectives, let us now prepare ourselves for the Test. ..... About the Test Preparation etc., in the next article.

“I'm a greater believer in luck, and I find the harder I work, the more I have of it   "Thomas Jefferson"

SBI PO Exam Resources:

• 2014 Notification

• SBI PO Previous Papers

• SBI PO Syllabus

• SBI PO Books

© www.bankpoclerk.com

Introduce Yourself Booklet For SBI's Probationary Officer Test

Index of Booklet:

Introduction

Structure of Online Examination

Sample Questions :

Institute of Banking Personnel Selection

(Study Material) SBI : Probationary Officer Examination

Current Affairs

Practice Paper

Selection Procedure For PO in SBI :

(a) Phase-I: Objective Tests for 200 marks and Descriptive Test for 50 marks. Total 250

(i) Objective Tests (200 marks):

The Objective Tests with 2 hour duration will consists of 4 Sections with 50 marks each as follows:

(a) Test of English Language (Grammer, Vocabulary, Comprehension etc)

(b) Test of General Awareness, Marketing and Computers

(c) Test of Data Analysis and Interpretation

(d) Test of Reasoning (High Level)

The candidates are required to qualify in the Objective Tests by securing passing marks, in each of the tests, to 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 for each category.

English Language

Practice Paper

It is celebration time for bank job-aspirants. About 57,000 candidates who had appeared in the recruitment examination for posts of probationary officers and clerks in public sector banks last year have been declared selected.

Over 12 lakh candidates had competed for these posts. A probationary officer earns a salary of Rs 60,000 per month depending on the location of posting while monthly salary for clerk is around Rs 25,000.

As per the provisional allotment list of the third round of exam (PO-III) released by the Institute of Banking Personnel Selection (IBPS) here on Monday, 21,680 candidates including 10,846 in the unreserved/open category have been made allotments to different public sector banks.

Similarly, allotments were also made for 35,610 clerical positions.

Reasoning

Practice Paper (Set - 2)

Institute of Banking Personnel Selection

Common Written Examination (CWE)

Institute of Banking Personnel Selection

Quantitative Aptitude

Practice Paper (Set - 2)