Basel Norms Explained: Banking Awareness Notes

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BANKING AWARENESS NOTES – ALL ABOUT BASEL NORMS
Basel is a city in Switzerland. It is the headquarters of Bank for International Settlement (BIS), which fosters co-operation among central banks with a common goal of financial stability and common standards of banking regulations.

Current Affairs Daily Updates: 30th June 2017

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Current Affairs Daily Updates: 30th June 2017
APPOINTMENTS
Shamma Jain appointed Indian envoy to Greece
  • Senior diplomat Shamma Jain was appointed as India's ambassador to Greece.
  • A 1983-batch Indian Foreign Service officer, Jain is currently serving as Indian envoy to Panama.
  • Jain succeeds M Manimekalai as Indian envoy in Greece.
  • She had earlier served as ambassador to Cote d'Ivoire.

Adjectives: English Grammar Notes

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Study Notes on English Grammar: ADJECTIVE RULES
Rule-1 Adjective of quantity like much, LITTLE, ENOUGH, SUFFICIENT, WHOLE, etc. must be used with uncountable nouns only as they express quantity and not number. 
Ex.-Many (not much) boys are absent from the class today. 
Many (not much) boys failed in the examination. 

English Practice Quiz for IBPS Clerk (Set - 1)

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English Practice Quiz for IBPS Clerk (Set - 1)
Directions (1 – 10): Read the following passage carefully and answer the questions given below it.
Appearing regal, Prime Minister Modi stood shoulder to shoulder with President Trump and declared that when it comes to the development of the world’s two largest democracies, he remains a “driven, determined, and decisive partner”. Their handshake on the White House lawns – and indeed the hug – was genuine, one built on mutual respect and admiration.

Reasoning Practice Questions for IBPS Clerk (Set - 1)

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Reasoning Practice Questions for IBPS Clerk (Set - 1)
Direction (1 – 5): Study the following information carefully and answer the questions given below:
SAT    RGP   BCD   LAT   YGH
1. If in each given words, each of the consonants is changed to the previous letter than, in how many words thus formed will there be more than one vowel?
A) Zero
B) One
C) Two
D) Three
E) Four

Quantitative Practice Problems for IBPS Clerk (Set - 1)

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Quantitative Practice Problems for IBPS Clerk (Set - 1)
1. 12 buckets of water fill a tank when the capacity of each bucket is 13.5 litres. How many buckets will be needed to fill the same tank, if the capacity of each bucket is 9 litres?
A) 9
B) 10
C) 11
D) 12
E) 18

Current Affairs Daily Quiz: 29th June 2017

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Current Affairs Daily Quiz: 29th June 2017
1. He is appointed as the National Institute of Fashion Technology (NIFT) chairperson.
A) Shri Rajesh Varma
B) Shri Rajesh V. Shah
C) Shri Narayana Swamy
D) Shri Sekar Raj
Answer: B)
Explanation: The Union Government (Ministry of Textiles) appointed Shri Rajesh V. Shah as Chairperson on the Board of Governors of the National Institute of Fashion Technology (NIFT). He has replaced Shri Chetan Chauhan as per the provisions of the National Institute of Fashion Technology Act, 2006.

Current Affairs Daily Quiz: 28th June 2017

Mentor for Bank Exams
Current Affairs Daily Quiz: 28th June 2017
1. The World's first ATM celebrated its _________ anniversary recently.
A) 100th
B) 75th
C) 50th
D) 25th
Answer: C)
Explanation: The World's first ATM celebrated its 50th anniversary with a British bank decorating the site of the world's first cashpoint in gold to mark the occasion. The first ATM was unveiled by Barclays at their Enfield branch in north London on 27 June, 1967. The invention of the ATM was a historical moment that completely changed the way the world thought about and used cash.

Important Banking Terminology: Banking Awareness Notes

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Dear Readers,
Welcome to Mentor for Bank Exams. Here I have brought to you the most commonly used terms in banking. The terms will be helpful to improve your knowledge in banking. It is also expected to appear many questions in upcoming banking exams.

Government issues Notification for roll out of GST

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Government issues Notification for roll out of GST
The government has notified the roll out of Goods and Services Tax (GST) from July 1st.
Salient Facts
  • To launch GST in the midnight of June 30th, the government has organised a special programme to be held in Central Hall of Parliament.

Important File Name Extensions: Computer Awareness Notes

Mentor for Bank Exams
Dear Readers,
Welcome to Mentor for Bank Exams. Here we are providing some important File Name Extensions.
TEXT FILES:
.log: Log File
.wpd: Word Perfect Document
.odt: OpenDocument Text
.pages: Pages Document
.doc: Microsoft Word Document
.docx: Microsoft Word Open XML Document
.tex: LaTeX Source Document

Current Affairs Daily Updates: 29th June 2017

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Current Affairs Daily Quiz: 29th June 2017
APPOINTMENTS
Rajiv Kumar appointed as Secretary of Uttar Pradesh
  • The Uttar Pradesh government appointed Rajiv Kumar as the new Chief Secretary of the state.
  • He replaces Rahul Prasad Bhatnagar.

NABARD: Banking Awareness Notes

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National Bank for Agriculture and Rural Development: Banking Awareness Notes 
NABARD
National Bank for Agriculture and Rural Development set up as an apex Development Bank by the Government of India with a mandate for facilitating credit flow for promotion and development of agriculture, cottage and village industries etc.

Compound Interest Problems Practice Set - 1

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Compound Interest Problems Practice Set - 1
1. Ravi Shankar takes money from the employees’ cooperative society at lower rate of interest and saves in a scheme, which gives him a compound interest of 20%, compounded annually. Find the least number of complete years after which his sum will be more than double.
A) 4 years
B) 2 years
C) 6 years
D) 8 years
E) 12 years

Current Affairs Daily Updates: 28th June 2017

Mentor for Bank Exams
Current Affairs Daily Updates: 28th June 2017
APPOINTMENTS
Rajeev Shukla to head BCCI Special Committee
  • Rajeev Shukla, a former vice-president of the Board of Control for Cricket in India (BCCI), will head a newly-formed seven-member Special Committee, as decided at Special General Meeting (SGM), to suggest a way forward for implementing the administrative overhaul prescribed in the Supreme Court order on July 18 last year.

Public Sector Banks and Nationalized Banks: Banking Awareness Notes

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Public Sector Banks and Nationalized Banks
Public Sector Banks (PSBs)
If the government holds majority stake, i.e,. more than 50 % stake of an enterprise, then it is known as Public Sector Unit (PSU). Government is the owner of the PSU, and is responsible for the managerial control of the enterprise.
Similarly, if the majority stake (>50 %) of a bank is held by the government (generally, central government), then it is known as Public Sector Bank (PSB).
To know whether a bank (or any enterprise) is a public sector bank, just take a note on the stake of government.
Nationalized Banks
If some private entity or individual holds the majority stake (>50 %) of a bank, then it is a Private Sector Bank. Now if the government buys the majority stake of the private bank, and take the managerial control of it, then it will be known as Nationalized Bank, and the process will be known as Nationalization.
Note that the bank earlier was a private bank, but after the nationalization process, it became a Nationalized Bank. Hence to know whether a bank is a nationalized bank, just take a note on the history of the bank (private -> public) and the stake of government in it.
Nationalized Bank vs. PSB
Now it is evident that a nationalized bank is always a public sector bank (PSB), because the government (in turn the public) owns it (>50 % stake), but a PSB may not be a nationalized bank (if the government itself creates the bank, with majority stake).
History of Nationalization
  • The Reserve Bank of India (RBI) was nationalized with effect from January 1, 1949, on the basis of Reserve Bank of India (Transfer to Public Ownership) Act, 1948.
  • The Central government entered the banking business with the nationalization of the Imperial Bank of India in 1955 (60% stake bought by RBI), and renamed State Bank of India (SBI) under State Bank of India Act, 1955. In 2008, government acquired RBI's stake in SBI to remove any conflict of interest, because RBI is the banking regulatory authority.
  • The 7 other state banks became the subsidiaries of SBI, after being nationalized on 1959, under State Bank of India (Subsidiary Banks) Act, 1959. Currently 2 SBI subsidiaries are merged, making total 5 SBI associate banks.
  • The major nationalization took place in July 19, 1969 under former PM Smt. Indira Gandhi, under Bank Nationalization Act, 1969. 14 major banks were nationalized at that time, making 84 % of total branches coming under government control. However, on February 10, 1970, the Supreme Court held the Act void on the grounds that it was discriminatory against the 14 banks and that the compensation proposed to be paid was not fair compensation.
  • A fresh Ordinance was issued on February 14, which was later replaced by Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970.
  • The next nationalization process took place in 1980, making 6 other banks nationalized. 91 % of total branches came under government control, through Banking Companies (Acquisition and transfer of Undertakings) Ordinance, 1980.
Which banks are Nationalized Banks?
This is a debated topic. If we consider the definition of Nationalized banks, then the criteria is - the bank need to be a private bank prior nationalization. This criteria is satisfied by RBI, SBI, SBI associates and all other banks that are nationalized in 1969 and 1980 (total 14 + 6 - 1 = 19, '-1' because New Bank of India is merged with Punjab National Bank in 1993).
But it is better not to call RBI, SBI, or SBI associates as a Nationalized Banks. Because, they draw power from different Acts, like -
  • RBI - Reserve Bank of India (Transfer to Public Ownership) Act, 1948
  • SBI - State Bank of India Act, 1955
  • SBI Associates - State Bank of India (Subsidiary Banks) Act, 1959
Banks that are nationalized in 1969 and 1980 draw power from Banking Companies (Acquisition and transfer of Undertakings) Act of 1969 and 1980, are known as Nationalized Bank.
These total 19 banks are designated as Nationalized Banks by RBI in their website too -
Also note that IDBI Bank Ltd. is denoted as Other PSBs in the website. 
Bharatiya Mahila Bank (BMB) is a government-owned bank from the beginning. So there is no process of nationalization involved. Hence it is a Public Sector Bank.
Now we can calculate the total number of Public Sector Banks (PSB) as -
  • SBI and SBI Associates - 6 banks
  • Nationalized banks (both 1969 1980) - 19 banks
  • IDBI bank - 1 bank
  • BMB bank - 1 bank
Total = 6 + 19 + 1 + 1 = 27 PSBs
This was the calculation till March 31, 2017.
But w.e.f April 1, 2017, the 5 associate banks of SBI and Bharatiya Mahila Bank (BMB) are merged with SBI. 
Therefore, as on 18/06/2017, the number of Public Sector Banks (PSB) is 27 - 5 - 1 = 21
Nationalization vs. Privatization
Nationalization is the process for a government to expand its economic resources and power, whereas Privatization is the process where government-owned companies are spun off into the private sector.



Current Affairs Daily Quiz: 27th June 2017

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Current Affairs Daily Quiz: 27th June 2017
1. Who inaugurates 3 day MODI Fest in Panaji?
A) Raghubar Das
B) Manohar Lal
C) Manohar Parrikar
D) Shivraj Singh Chouhan
Answer: C)
Explanation: Goa chief minister Manohar Parrikar inaugurated the three-day MODI (Making of Developed India Festival) Fest at Kala Academy in Panaji. The main focus depends on economic and infrastructure development, budget reforms, women empowerment, skill development for youth, Digital India, financial inclusion and incentives for the farming sector.

Sectional Test for Bank Exams (Set - 28)

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Sectional Test for Bank Exams (Set - 28)
ENGLISH
Directions (1 – 5): In the passage given below there are 5 blanks, each followed by a word given in bold. Every blank has four alternative words given in options (A), (B), (C) and (D). You have to tell which word will best suit the respective blank. Mark (E) as your answer if the work given in bold after the blank is your answer i.e No change required

Current Affairs Daily Quiz: 26th June 2017

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Current Affairs Daily Quiz: 26th June 2017
1. Who won Femina Miss India 2017 title recently?
A) Manushi Chhillar
B) Sana Dua
C) Priyanka Kumari
D) Anukriti Gusain
Answer: A)
Explanation: Manushi Chhillar from Haryana won Femina Miss India 2017 title at Yash Raj Studios in Mumbai on June 25, 2017. Sana Dua from Jammu and Kashmir is the first runner-up and the second runner-up is Priyanka Kumari from Bihar. Karan Johar and Riteish Deshmukh hosted the event; whereas Sonu Nigam, Alia Bhatt, Sushant Singh Rajput and Ranbir Kapoor performed live on-stage to entertain the guests.

Current Affairs Daily Quiz: 25th June 2017

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Current Affairs Daily Quiz: 25th June 2017
1. As per the report of World Drug 2017, how many people are suffered from drug?
A) 29.5 million
B) 27.2 million
C) 30.8 million
D) 21.9 million
Answer: A)
Explanation: As per World Drug Report 2017, released by United Nations Office on Drugs and Crime (UNODC), around 29.5 million people (0.6% of the global adult population) were engaged in problematic use of drugs and suffered from drug use disorders, including dependence. It highlighted that Opioids (drugs derived from opium, including morphine) were the most harmful drug type and accounted for 70% of the negative health impact associated with drug use disorders worldwide.

International Monetary Fund: Banking Awareness Notes

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International Monetary Fund: Banking Awareness Notes
International Monetary Fund
The International Monetary Fund (IMF) is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
Created in 1945, the IMF is governed by and accountable to the 189 countries that make up its near-global membership.

Fundamentals of Computer Part - 2

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Fundamentals of Computer Part - 2
Components of a Computer
A. Input Unit
Computer accepts data for users through these units. It converts the instruction of users to machine language.
The input devices are Keyboard, Mouse, Jaystick, OCR (Optical Character Reader), Bar Code Reader, Bio-metric Sensor, Optical disk drive, Digital Camera, Scanner, Light Pen, MICR (Magnetic Ink Character Recognition), OMR (Optical Mark Recognition), Track Ball etc.

Sectional Test for Bank Exams (Set - 27)

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Sectional Test for Bank Exams (Set - 27)
ENGLISH
Directions (1 – 5): The following questions have a paragraph from which the last sentence has been deleted. From the given options, choose the one that completes the paragraph in the most appropriate way.
1. Where some Economists argued that the Food security bill would be a huge liability to India and that it was out of India’s financial capability to fund this Bill, Amartya Sen responded in a stern way saying that “Sitting in a room with Air Conditioning which is working as a result of subsidized electricity as well as eating food prepared with subsidized cooking gas as well as the fact that rich farmers being able to buy subsidized fertilizers” for their own profit depicted a very selfish act. Economic Growth has to be fairly distributed among the various social strata of society according to their needs and in a country like India where the majority population is under the BPL certain preferences of opportunities, minority security as well as relief funds are to be provided.

Current Affairs Daily Updates: 25th and 26th June 2017

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Current Affairs Daily Updates: 25th and 26th June 2017
APPOINTMENTS
IDFC Bank appoints Sunil Kakar as MD and CEO for 3 Years
  • IDFC Limited announced Sunil Kakar as the Managing Director (MD) and Chief Executive Officer (CEO) of the company.
  • Vikram Limaye is a member of a panel appointed by the Supreme Court to administer the Board of Control for Cricket in India (BCCI).

Current Affairs Daily Quiz: 24th June 2017

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Current Affairs Daily Quiz: 24th June 2017
1. Who is appointed as the ICC Deputy chairman?
A) Imran Khawaja
B) Kailash Raj
C) Suresh Sinha
D) Akbar Singh
Answer: A)
Explanation: Imran Khawaja appointed as International Cricket Council (ICC) as Deputy Chairman. He is a senior lawyer and serving in the ICC Board for several years.

Current Affairs Daily Quiz: 23rd June 2017

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Current Affairs Daily Quiz: 23rd June 2017
1. India's biggest municipal bonds programme was launched in _______________.
A) Odisha
B) Bihar
C) Madhya Pradesh
D) Maharasthra
Answer: D)
Explanation: Union Minister Venkaiah Naidu launched India's largest municipal bond program in Maharasthra after banging a gong to incorporate the Pune Municipal Corporation (PMC) in the list of BSE (Bombay Stock Exchange). The project looks to raise Rs 2,264 crore in five years. In its first part, the corporation raised Rs200 crore through the Bombay Stock Exchange's bond trading platform at a coupon rate (a fixed security amount) of 7.59% for 10 years.

Current Affairs Daily Quiz: 22nd June 2017

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Current Affairs Daily Quiz: 22nd June 2017
1. Who is appointed as the Chief of newly established Counter-Terrorism Centre?
A) Charles Malik
B) Alex Quaison-Sackey
C) Vladimir Voronkov
D) Adam Malik
Answer: C)
Explanation: The UN Secretary General Antonio Guterres appointed Russian diplomat Vladimir Voronkov to head the newly established UN Counter-Terrorism Centre (UNCCT). He has been given the rank of Under-Secretary-General.

Current Affairs Daily Updates: 23rd and 24th June 2017

Mentor for Bank Exams
Current Affairs Daily Updates: 23rd and 24th June 2017
APPOINTMENTS
Indian Council of Historical Research secretary Anand Shanker Singh resigns
  • Indian Council of Historical Research (ICHR)'s member secretary Anand Shanker Singh resigned from the post citing personal reasons, within six months after his appointment by the Human Resource Department Ministry.
  • He was vice-president of the Uttar Pradesh chapter of RSS-backed Akhila Bharatiya Itihasa Sankalana Yojana (ABISY) and principal of Iswar Saran Degree College in Allahabad.

Reasoning Puzzles Quiz | IBPS | RBI | NICL

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Reasoning Puzzles Quiz for IBPS, NICL, RBI and other bank and insurance exams
Directions (1 – 5): Study the following information carefully and answer the questions given below:
Seven friends - Aaron, Bruce lee, Clarke, Dipesh, Edward, Faisal and Ganesh – joined different hobby classes viz, Vocal music, Sports & Fitness, Playschool, Dance, Instrumental music, Martial Art and Adventure activities but not necessarily in the same order. On the seven different days of the same week from Monday to Sunday.

English Double Fillers Quiz | IBPS | RBI | NICL

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English Double Fillers Quiz for IBPS, RBI, NICL and other bank and insurance Exams
Directions (1 – 5): In each of the following sentences there are two blank spaces. Below each five words have been denoted by numbers A), B), C), D) and E). Find out which pair of words can be filled up in the blanks in the sentence in the same sequence to make the sentence meaningfully complete.
1. The _______ business trips though _______ at times gave the executive a unique chance to meet interesting people.
A) demanding, memorable
B) frequent, monotonous
C) crucial, regular
D) prolonged, exhausted
E) significant, influential

Quantitative Aptitude Practice Questions | IBPS | RBI | NICL

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Quantitative Aptitude Practice Questions for IBPS, SBI and other bank exams
1. A man marked his selling price of goods at 50% above the cost price. He sells half the goods at this price, one -third of his remaining goods at a discount of 25% on the marked price and rest on discount of 20% on the marked price. Find his overall gain percent.
A) 35.63%
B) 32.25%
C) 32.35%
D) 33.75%
E) None of these

Current Affairs Daily Quiz: 21st June 2017

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Current Affairs Daily Quiz: 21st June 2017
1. Which country announced publicly for the first time train that runs on Virtual Tracks?
A) Saudi Arabia
B) Russia
C) China
D) England
Answer: C)
Explanation: China announced publicly about world's first train that runs on a virtual track making use of sensor technology instead of metal rails. The train is capable of reaching a top speed of 70 kilometers per hour and can travel a distance of 25 km by just charging for 10 minutes. They are fitted with sensors which are capable of detecting the dimensions of the road permitting it to follow the routes without the need for metal rails.

Sectional Test for Bank Exams (Set - 26)

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Sectional Test for Bank Exams (Set - 26)
ENGLISH
Directions (1 – 10): Read the following passage carefully and answer the questions. Certain words/phrases have been given in bold to help you locate them while answering some of the questions.
The Rajya Sabha is set to take a vital step to create a pan-Indian market for goods and services. It will clear the Bill to amend the Constitution that empowers states to tax services and the Centre to tax goods up to the retail stage. This will also enable the setting up of the Goods and Services Tax (GST) Council with a wide mandate. The government should be commended for reaching out to the Opposition and forging a consensus on GST in the Upper House where it lacks the numbers. The task has been arduous. But it has shown flexibility on contentious issues. The new tax system can be rolled out in April next year if the Centre and the states firm up the tax rates and transact the legal changes needed to make the shift. First, the Constitution Amendment Bill has to be ratified by at least half the states.