Competition Gurukul’s Wizards of 2016

Competition Gurukul, on behalf of its entire fraternity of Baluja Education Society, wants to congratulate all the selected students of Competition Gurukul in various exams conducted from the year 2015 to mid – 2016. All the students have shown tremendous effort not only to crack these exams but many of them have proven that one can create history by rock solid determination, shear hard work and meticulous smart strategies. ?We can rightly conclude that, “they came, they saw and?they conquered” what they wanted.

competition result vinal final

Competition Gurukul is the sister institute of Baluja Institute, Janak Puri. Even though Baluja Institute is engaged in providing technical education & training for past 18 years, Competition Gurukul has created its own niche in the field of Competitive Exam preparation and professional coaching in a very short time span. The main credit for this goes to Ms. G.K Baluja (Chairman & MD of Baluja Education Society) and the working staff of Competition Gurukul – both teaching and non teaching whose dedication, professionalism and dynamic work culture have helped the students to get what they required during smart preparation and quality coaching to crack various competitive and entrance exams – SSC, Bank, CTET, CLAT, LEET, NDA, HM, Polytechnic, B.Ed and B.El.Ed.

Words from Our Chairman & MD?

“Hello students and their respected parents. Competition Gurukul is a top class institute with world class infrastructure and extraordinary competitive environment. We have one of the best faculty in coaching field ?with years of experience and smart teaching methodologies. At Competition Gurukul, we cater for the quality of coaching and smart preparation which is a requisite to crack any competitive as well as entrance exam.”

?
image1Ms. G.K. Baluja

“Our classroom coaching program is well designed and tested that helps students not only to crack a exam for which they enroll in our institute but also lead them to achieve what they desire to achieve. Our this year’s result at ?various exams is a proof of it. Our both teaching and non-teaching staff works stupendously and consistently with total devotion to provide all beneficiaries of quality coaching to students. I feel proud to lead such a dedicated staff and the organization. I welcome all students of various exams to come and join our institute to get immediate benefit and desired result from the coaching”

For More Information Contact

Janak Puri??Branch

Competition Gurukul
A-1/17, Janakpuri, Main Najafgarh Road,
Opp Metro Pillar 636, New Delhi ? 110058

Uttam Nagar Branch

A-38, 39, 40, Opposite Metro Pillar no: 641,
Uttam Nagar, Near Uttam Nagar East Metro Station, New Delhi

Coaching for IBPS CWE PO/MT-VI 2016 – Join the Fresh Batch

IBPS, Which stands for Institute of Banking Personnel Selection, notified the recruitment notification examination 2016 recently for selection of personnel for Probationary Officer/ Management Trainee (CWE PO/MT-VI) vacancies in the Participating Organisations. Competition Gurukul has started the fresh batches of IBPS CWE PO/MT Exam in all ?it’s branches ?Eligible candidates can join these batches to get the immediate benefits and result.

Full Description of IBPS CWE PO/MT -2016 Exam


Total No. of Posts: 8822

Age Limit:

  1. Candidates age limit should be between 20 ? 30 years as on 01-07-2016 (i.e. a candidate must have been born not earlier than 02-07-1986 and not later than 01-07-1996).
  2. Relaxation of age will be applicable up to 05 years for SC/ ST, 03 years for OBC and 10 years for PWD candidates & other relaxation details refer the notification.

Application Fee: Candidates should pay Rs. 600/- and Rs. 100/- for SC/ ST/ PWD candidates through online by using Debit Cards (RuPay/ Visa/ MasterCard/ Maestro), Credit Cards, Internet Banking,?IMPS, Cash Cards/ Mobile Wallet.

Educational Qualification: Candidates should possess Degree (Graduation) in any discipline from a University recognised by the Govt. of India or any equivalent qualification recognized as such by the Central Government.

Instructions to Apply Online:
1. Before applying online candidates have valid e mail id & contact number
2. Candidates log on the website www.ibps.in
3. Click here to apply onlibe for CWE PO/ MT ? VI
4. Read all instructions & Fill all the details
5. Check once before submit the Form
6. Now take a print out of online application for future use.

Selection Process: Candidates will be selected based on preliminary examination, main examination & common interview.

Cut off Score: Candidate have to secure a minimum standard score in each of the 03 tests to be decided by IBPS.

Important Dates:

Starting Date to Apply Online & for Edit/ Modification of Application 26-07-2016
Last Date to Apply Online & for Edit/ Modification of Application 13-08-2016
Starting Date to Payment of Application Fees/ Intimation Charges (Online) 26-07-2016
Last Date to Payment of Application Fees/ Intimation Charges (Online) 13-08-2016

Main Features of IBPS CWE PO/MT?-2016 Exam coaching

  • Complete course coverage of?IBPS CWE PO/MT -2016?exam
  • Concept development, competant coaching?and valid assessment?for Law Entrance Test
  • Individual faculty?for each subject
  • Frequesnt doubt and problem solves sessions?to get your doubts cleared
  • Online as well as offline test facility
  • Vibrant atmosphere with full CCTV survellience
  • Fully revised, concise?and precise??study materials
  • Stupendous video lectures?and?online study materials
  • Excellent coaching at affordable fee

The?registration plus admission?for fresh batches?of?IBPS CWE PO/MT-2016?have started.Be the first to register your slot for getting immediate benefit and result.

For More Information Contact

Janak Puri??Branch

Competition Gurukul
A-1/17, Janakpuri, Main Najafgarh Road,
Opp Metro Pillar 636, New Delhi ? 110058

Uttam Nagar Branch

A-38, 39, 40, Opposite Metro Pillar no: 641,
Uttam Nagar, Near Uttam Nagar East Metro Station, New Delhi

Get Quality Coaching for Bank Exam 2016. Get Coaching for All Bank Exam In One Coaching Program

best-bank-po-coaching copy

Competition Gurukul proudly presents its?Bank Coaching Program for the year 2016 where bank aspirants get “coaching for all banks under single coaching program“. This coaching program is one of the most influential coaching program in the field of bank exam in recent times for several reasons that we have discussed briefly in above poster.

Bank Exams basically test an aspirant?s speed, skill and problem solving nature in a two hours of die-hard exam session. We at Competition Gurukul have always tried to avail bank aspirants with a reliable, sophisticated and quality bank exam coaching whose success can be easily seen in all our posts. The four subjects of Bank exam – noticeably Quantitative Aptitude, English Language, Logical Reasoning & Banking Awareness contains rich amount of topics that are supposed to be covered by bank aspirants with both hard and smart work. The faculty of Competition Gurukul understand the basic necessity of concept development and tricky approach to solve questions of each subject within a short time span in exam. The candidate who have cracked various bank exam after taking coaching from Competition Gurukul knows it better. So don’t miss the chance of seeking quality and result oriented Bank exam coaching at Competition Gurukul. You can visit our website for more info about our Bank Exam Coaching Program 2016

The demo class has begun for the fresh batches. You can register your slot for free demo class at the given contact information at the latest:

Janak Puri??Branch

Competition Gurukul
A-1/17, Janakpuri, Main Najafgarh Road,
Opp Metro Pillar 636, New Delhi ? 110058

Call 011-41668088, 9716942388

Uttam Nagar Branch

A-38, 39, 40, Opposite Metro Pillar no: 641,
Uttam Nagar, Near Uttam Nagar East Metro Station, New Delhi – 110058

SMS ‘COMHELP’ to 9015596280

Our Important Links

Bank Exam Coaching for Immediate Results – Register now for Free Demo Class

Dear Bank Exam Aspirants

Welcome to this informative Blog post of Competition Gurukul. Friends, it is a known fact that the number of vacancies and so the number of Bank aspirants have constantly been rising these days. After experiencing the?increased competition among the bank exam aspirants, the different Bank exam conducting bodies like IBPS, RRB, SBI, ICICI have also raised the level and the toughness of Bank entrance paper. We understand how important it is for you to crack Bank exam. Henceforth, we have brought a very new and an industry recognized standardized coaching program for Bank Entrance Test. ?In this blog, we will tell you the details, benefits and the scope of this program and how helpful this program will be for you as a Bank exam aspirant

Competition Gurukul is one of the pioneer and the most promising coaching institute of Bank Exam and Interview Preparation. We have a fine infrastructure for providing quality and result oriented Bank exam coaching to crack this exam smoothly with meritorious ranking. Our Bank exam coaching program basically emphasize on the concept development, doubt clearance and problem solving attitude of the Bank aspirants. You can improve your speed, accuracy and methodology to solve Bank exam questions through our special interactive sessions with our experts who have already cracked and done jobs in the top banks of our country.

What is special about Bank Coaching Program at Competition Gurukul?

  • By?inducing digital lectures in?regular class sessions, we have made?our classroom programs more interactive and smart?
  • We organize regular?doubts sessions and backup classes on weekends
  • We provide Video lectures?plus?backup classes to those who misses?our regular lecture with a?genuine reason
  • Individual faculty for Banking Awareness, Quantitative Aptitude, Logical & Intelligence Reasoning & English?
  • Highly graded revised and precised study materials
  • Online Mode?latest exam pattern based regular test?on every weekend
  • Highly qualified, knowledgeable and cooperative faculty
  • Active and cooperative?counselors to guide you in resolving your?Exam related doubts, helping you in form filling and accessing latest exam information
  • Free online resourses including ppt, pdf and video lectures

We invite the interested Bank exam?aspirants for our smart?and dynamic Bank Exam? 2015 classroom coaching program. Hurry Up! Get register for free demo class and get?immediate benefit in our fresh batch.

Our Important Links

For More Information Contact

Janak Puri??Branch

Competition Gurukul
A-1/17, Janakpuri, Main Najafgarh Road,
Opp Metro Pillar 636, New Delhi ? 110058

Uttam Nagar Branch

A-38, 39, 40, Opposite Metro Pillar no: 641,
Uttam Nagar, Near Uttam Nagar East Metro Station, New Delhi – 110058

Banking Awareness Practice Set on Banking Structure in India

Banking Structure in India?

1. What is the current number of Local Area Banks in India?
a. Four
b. Seven
c. Eight
d. Six

Answer: Four
Explanation: As of May 2015, these four local area banks are: 1.Coastal Local Area Bank Ltd ? Vijayawada (Andhra Pradesh) 2.Capital Local Area Bank Ltd ? Phagwara (Punjab)
3.Krishna Bhima Samruddhi Local Area Bank Ltd, Mahbubnagar (Andhra Pradesh)
4.Subhadra Local Area Bank Ltd., Kolhapur (Maharashtra)

2. Which of the following is NOT an advantage of Unit Banking?
a. They have high risk diversification
b. The management enjoys more autonomy
c. They have?fast decision making
d. All of above are advantages of Unit Banking

Answer: They have risk diversification
Explanation: Due to small size and due to unit structure; the decision making in unit banks is very fast. The management in unit banks enjoy more autonomy and more discretionary powers. However, due to single units, the risk is not distributed or diversified

3. Nainital Bank is a subsidiary of which of the following banks?
a. Bank of India
b. FDCI Bank
c. Bank of Baroda
d. Allahabad Bank

Answer: Bank of Baroda

4. Anywhere Banking is a common term used in Banking Sector, what does it refers to __
a.?The customer can deposit/ withdraw cash in foreign countries
b.?The customer can deposit/ withdraw cash at any branch other than the branch in which he holds the account
c.?The customer can deposit/ withdraw cash at any bank other than the bank in which he holds the account
d. The customer can deposit/ withdraw cash at all points of sale

Answer: The customer can deposit/ withdraw cash at any branch other than the branch in which he holds the account
Explanation: Anywhere Banking means that the customer can deposit/ withdraw cash at any branch other than the branch in which he holds the account. Anywhere banking frees the customer from geographical boundaries and limitations and gives the flexibility to the customer to use his account across the board

5. Which of the following bodies regulates the Regional Rural Banks?
a. RBI
b. NABARD
c. Department of Rural Development
d. State Government

Answer: NABARD

Explanation: They are regulated by NABARD; which is a subsidiary of RBI. Other banks are regulated by RBI directly. Report Error

6. In which year, Cooperative Societies Act was enacted?
a. 1910
b. 1912
c. 1913
d. 1915

Answer: 1912 Report Error

7. Which of the following rural cooperatives in India work at village or grassroots level?
a. State Cooperative Banks
b. District Central Cooperative Banks
c. Primary Agricultural Credit Societies
d. Primary Cooperative Agriculture and Rural Development Banks (PCARDBS)

Answer: Primary Agricultural Credit Societies

8. For the regional rural banks, which among the following is the correct share of Central, State and Sponsor Bank?
a. 50%, 40%, 10%
b. 50%, 35%, 15%
c. 50%, 15%, 35%
d. 40%, 50%, 10%

Answer: 50%, 15%, 35%
Explanation:
In RRBs:
1 . 50% share shall be held by the central government,
2. 15% by the concerned state government, and
3. 35% by the sponsor bank.
The RRB amendment act 2014 has allowed the 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%. Further, if the shareholding of the state government in the RRB is reduced below 15%, the central government would need to consult the concerned state government. Report Error

9. Which Indian bank has opened its first branch in China in May, 2015?
a. Axis Bank
b. HDFC Bank
c. ICICI Bank
d. Corporation Bank

Answer: ICICI Bank Country?s top private sector bank

Explanation: ICICI bank has opened its first branch in China. It was inaugurated by Prime Minister Narendra Modi. The bank will be based in Shanghai. ICICI Bank with presence in 17 countries earlier had a representative office in China, which it had opened over 10 years ago in 2003.

10. The owners of the cooperative bank are also its __
a. Customers
b. Debtors
c. Creditors
d. All of above

Answer: All of above
Explanation: A cooperative is jointly owned enterprise in which same people are its customers who are also its owners. Thus, basic difference between scheduled commercial banks and scheduled cooperative banks is in their holding pattern. Report Error

11. In which of the following types of banking, there is a direct execution of transactions between a bank and its consumers?
a. Retail banking
b. Universal Banking
c. Virtual Banking
d. Unit Banking

Answer: Retail banking
Explanation: When there is a direct execution of transactions between a bank and its consumers, rather than with corporations or other banks, then this type of banking system is known as Retail banking

12. In which country, the Unit Banking System originated?
a. United States
b. United Kingdom
c. France
d. Spain

Answer: United States
Explanation: Unit banking is a system of banking which originated in US. It is a limited way of banking where banks operate only from a single branch (or a few branches in the same area) taking care of local community.

13. In the constitution of India, ?Cooperatives? come under which among the following in the seventh schedule?
a. Union List
b. State List
c. Concurrent List
d. None of them

Answer: State List
Explanation: The item ?Cooperative Societies? is a State Subject in the 7th Schedule via entry 32 of the State List in the Constitution of India. Report Error

14. Bank branches are established under which section of Banking Regulations Act, 1949?
a. Section 20
b. Section 23
c. Section 22
d. Section 10

Answer: Section 23


Explanation: Branch banking involves business of banking via branches. The branches are set up under Section 23 of Banking Regulations Act, 1949. Report Error

15. With reference to various types of Banking, what is ?Mixed Banking???

a. when banks undertake the activities of commercial and investment banking together
b. when banks undertake the activities of wholesale and retail banking together
c. when banks undertake the activities of offline and online banking together
d. when banks undertake the activities of commercial and cooperative banking together

Answer: when banks undertake the activities of commercial and investment banking together

16. Which country has largest shadow banking market in the world??

a. China
b. UK
c. Netherland
d. USA

Answer: USA
Explanation: Shadow banking refers to the activities of financial institutions that operate outside government-regulated banking systems. United States has the largest shadow banking market followed UK and China

17. What is the share of the Foreign Banks in the branch network in India?
a. Less than 1 %
b. Around 5%
c. Around 3%
d. Around 6%

Answer: Less than 1%
Explanation: Foreign Banks account for less than 1% of the total branch network in the country

18. Which among the following types of Banking is most helpful in cross selling?
a. Virtual Banking
b. Relationship Banking
c. Wholesale Banking
d. Personal Banking

Answer: Relationship Banking


Explanation: Relationship banking is a banking system in which banks make deliberate efforts to understand customer needs and offer him products accordingly

19. Which of the following is the first financial institution of India that adopted the Universal Banking System?
a. ICICI
b. SBI
c. IDBI
d. None of the above

Answer: ICICI
Explanation: Universal banking is a one-stop shop of financial products and services. The Industrial Credit and Investment Corporation of India Limited (ICICI) is the first financial institution of India that adopted the Universal banking system. It was set up in January 1955 as a joint stock company with support from the Government of India, the World Bank, the Commonwealth Development Finance Corporation, and other foreign institutions.

20. A commercial bank will launch a medium term note (MTN) programme to ___
a. Provide loans
b. Raise Funds
c. Sell Equity
d. Purchase shares

Answer: Raise Funds
Explanation: Medium term note (MTN) is a debt bond which usually matures in 5 to 10 years. Obviously it is used for raising funds in domestic or international markets. Recently Union Bank of India has hit the global debt market to raise around USD 500 million through bond issuance

BANKING COACHING FOR BETTER RESULTS

Competition Gurukul is a premier institute for Banking Exam Coaching. You can visit our center to register your slot for fresh batches. You will be guided by our counsellor from Monday to Saturday at scheduled timing of 9 AM to 8 PM.

For More Information Contact

Competition Gurukul
A-1/17, Janakpuri, Main Najafgarh Road,
Opp Metro Pillar 636, New Delhi ? 110058

Banking Practice Set on History of Banking in India

evolution-of-bank-in-india-3-728

1. The first bank of India ?Bank of Hindustan? was established in which year?
a. 1870
b. 1770
c. 1795
d. 1880

Answer: ?1770
Explanation: Bank of Hindustan was the first bank in India that was established in 1770 and it was opened at Calcutta under European nation authority. Amazingly, Bank of Hindustan was liquidated in the year 1830-32.

2. Choose the correct locations of all three presidency banks that were established during British India?
a. Calcutta, Bombay, Madras
b. Delhi, Calcutta, Madras
c. ?Madras, Bombay, Kanpur
d. Bhatinda, Calcutta, Sholapur

Answer: ?Calcutta, Bombay, Madras .

3. Which of the following is the oldest Joint Stock bank of India?
a. Patiala Bank
b. Bank of India
c. Allahabad Bank
d. Bank of Baroda

Answer: Allahabad Bank
Explanation: Joint- Stock Bank is a bank having ?multiple shareholders. Bank of Upper India was the oldest Joint Stock Bank of India which was established in 1863. However, bank failed in 1913. At present, the old records explain that Allahabad Bank is the oldest Joint Stock bank of India which is still existing and working. It is also known as India?s oldest public sector bank that was established in the year 1865. .

4. Which among the following was the first bank to open a branch on foreign soil
a. State Bank of India
b. Bank of India
c. Allahabad Bank
d. Bank of Punjab

Answer: Bank of India
Explanation: The first Indian bank to open a branch outside India was Bank of India in London in 1946. It was also the first bank to open a branch in continental Europe at Paris in 1974 .

5. What was the initial share capital of Reserve Bank of India?
a. Rs. 20 Crore
b. Rs. 10 Crore
c. Rs. 5 Crore
d. Rs. 20 Crore

Answer: Rs. 5 Crore

 

bengaloffcenterlinestamp2

Explanation:?When?RBI was established, it was not a Government owned bank but was a privately held bank. It started with Rs. 5 Crore of Share Capital, amazingly divided into Rs. 100 of shares each fully paid up. The entire capital was initially owned & controlled by private shareholders. Rs. 4,97,8000 out of Rs.5 Crore was subscribed by the private shareholders while the remaining Rs. 2,20,000 out of Rs. 5 Crore was subscribed by central government.

6. The Royal Commission on Indian Currency and Finance was also known as __
a. Hartog Commission
b. Buttler Committee
c. Hilton-Young Commission
d. Muddiman Commission

Answer: Hilton-Young Commission

7. Original headquarters of RBI were located at ___?
a. New Delhi
b. Calcutta
c. Madras
d. Bombay

Answer: Calcutta
Explanation: Kolkata had got got the first Original Headquarter. However, it was shifted to Shahid Bhagat Singh Marg of ?Bombay city in 1937 .

8. In which year, Paper Currency Act was enacted by British Government of India?
a. 1851
b. 1852
c. 1861
d. 1870

Answer: 1861

9. On which date, RBI started working?
a. January 1, 1934
b. April 1, 1934
c. January 1, 1935
d. April 1, 1935

Answer : April 1, 1935

10. In which year, Indian Rupee was devalued for the first time?
a. 1966
b. 1967
c. 1968
d. 1969

Answer: 1966

11. In which year, Regional Rural Banks started working in India?
a. 1989
b. 1972
c. 1975
d. 1978

Answer: 1975

12. The earliest evidence of Banking transactions in India comes from __
a. Maurya Era
b. Vedic Era
c. Medieval India
d. Gupta Era

Answer: ?Vedic Era
Explanation:?Vedic Civilization has many archaelogical facts revealing the origin of Banking in India where?rnapatra (??????) or rnalekhya (???????) were the major loan deeds that were prevalent during Vedic period.
? Interest rates and?usury (???????) both were prevalent during this period.
? ?Manusmriti has the account of Vedic word Kusidin which refers refers to an usurer (??????)

13. The liberalisation of Indian banking and regulation was done first on the basis of recommendations of which committee?
a. Saraiya Committee
b. Khusro Committee
c. Narasimham Committee
d. A Ashok?Committee

Answer: Narasimham Committee
Explanation:?On the basis of recommendations of Narasimham Committee, the liberalization of Indian Bank was done in 1991 with the motives of ?enhancing productivity, profitability and efficiency of banks as were suggested by the Narasimham committe.

14. In which year, the nationalization of subsidiary banks of the State Bank of India (SBI) was done?
a. 1958
b. 1959
c. 1964
d. 1991

Answer: 1959
Explanation:?The State Bank of India (subsidiary) act of 1959 led to the nationalization of the following?seven subsidiary banks of the State Bank of India (SBI):
i. State Bank of Bikaner and Jaipur (SBBJ),
ii. State Bank of Hyderabad (SBH),
iii. State Bank of Mysore (SBM),
iv. State Bank of Patiala (SBP),
v. State Bank of Indore,
vi. State Bank of Saurashtra, ?and
vii. State Bank of Travancore (SBT). .

15. What was the name of State Bank of India (SBI) before it was created by SBI Act?
a. Imperial Bank of Bengal
b. Imperial Bank of Hindustan
c. Imperial Bank of India
d. Imperial Bank of Madras

Answer: Imperial Bank of India

images (2)
Explanation: The Presidency banks that included Bank of Bengal, Bank of Bombay and Bank of Madras that were amalgamated on 27 January, 1921.
– Note that under the Imperial Bank of India Act, 1920, the Imperial Bank of India was established.
– The Imperial Bank of India was nationalized after the Independence under the act of State Bank of India in 1955 and thus State Bank of India (SBI) was formed.

BANKING COACHING FOR BETTER RESULTS

Competition Gurukul is a premier institute for Banking Exam Coaching. You can visit our center to register your slot for fresh batches. You will be guided by our counsellor from Monday to Saturday at scheduled timing of 9 AM to 8 PM.

For More Information Contact

Competition Gurukul
A-1/17, Janakpuri, Main Najafgarh Road,
Opp Metro Pillar 636, New Delhi ? 110058

 

Target IBPS Exam 2015: Banking Awareness Practice Set

Competition Gurukul is presenting the practice set on Banking Awareness in this blog in order to?give the final touch to Banking Exam 2015 Aspirants. This practice set is valid for IBPS, IBPS PO and RRB.

canstockphoto9023760
1. Which of the following statements is incorrect regarding RTGS system?
i) The transactions take place in real time
ii) The system operates on DNS (Deferred Net Settlement) basis
iii) The minimum amount that can be remitted is Rs. 2 lakh
iv) Service charges for RTGS transactions vary from one bank to another
v) Only ii and iii

NEFT-vs-RTGS

2. 10-second paperless instant loan Scheme for its existing customers and Project Tatkal home loans application process within 10 days are launch by which of these banks respectively:
i) ICICI and HDFC
ii) SBI and ICICI
iii) BOI and SBI
iv) HDFC and SBI
v) BOI and ICICI
ori_pc_4804-img-2015-07-03-1435921900-home-loan-red
3. RBI is lender of last resort which reveals:
i) RBI advances money to public whenever there is any emergency
ii) Commercial banks give fund to the RBI
iii) RBI advances necessary credit against eligible securities to financial institutions
iv) All of the above
v) None of the above
4. A scheduled bank must be:
i) Company incorporated by any law in force in any place in India.
ii) An institution notified by GOI.
iii) A company as defined by Companies Act, 2013.
iv) All of the Above
v) None of These
5. The ability of commercial banks to increase their deposits by expanding their loans and advances is known as
i) Capital expansion
ii) Credit expansion
iii) Credit control
iv) Credit creation
v) None of these
6. In TRIPS, what does ?I? stand for?
i) Intellectual
ii) Information
iii) Indian
iv) Infra
v) None of these
7. Which of the following statement is/are true about fiat money?
i) Fiat money includes physical token like certificates
ii) Fiat money’s value is not derived from any intrinsic value are relative value is based only on government order
iii) Fiat money can be converted in to valuable commodity (like gold)
iv) Both 1 and 2
v) None of these
8. RBI has lifted a ban on carrying Indian bank notes of Rs 1,000 and 500 denominations to and from Nepal and Bhutan. RBI has put a limit on carrying such notes at Rs.__________ per person?
i) 10000
ii) 15000
iii) 25000
iv) 20000
v) 30000
9. Often, we read in the newspapers that several Indian companies are taking the FCCB route to raise capital. What does the term FCCB stand for?
i) Foreign Currency Convertible Bond
ii) Foreign Convertible Credit Bond
iii) Financial Consortium and Credit Bureau
iv) Future Credit and Currency Bureau
v) None of these
10. Which of the following entities did not get the licence to run Payment Bank :
i) Aditya Birla Nuvo Limited
ii) Sun Pharma
iii) Fino PayTech Limited
iv) Videocon d2h
v) Cholamandalam Distribution Services Limited

Answer Key

1 – ii
2- iv
3 – iii
4 – iv
5 – iv
6 – i
Explanation :TRIPS ?stands for Trade Related Intellectual Property Rights??
7 – ii
8 – iii
9 – i
10 – iv

BANKING COACHING FOR BETTER RESULTS

Competition Gurukul is a premier institute for Banking Exam Coaching. You can visit our center to register your slot for fresh batches. You will be guided by our counsellor from Monday to Saturday at scheduled timing of 9 AM to 8 PM.

For More Information Contact

Competition Gurukul
A-1/17, Janakpuri, Main Najafgarh Road,
Opp Metro Pillar 636, New Delhi ? 110058

 

What Is Repo Rate? – Check Your Banking Awareness

The questions related to repo rate & reverse repo rate are always asked in exam. So they are considered as the HOT TOPICSS of any Bank exam – whether IBPS, SBI, NABARD etc.

repo-rate-and-reverse-repo-rate

Do you Know what the situation would be if banks run out of money? We know that is a very difficult situation for any organization like bank and so difficult for the Bank job aspirants to answer. So, let we ask you have you ever been told that a Bank has no funds with it to pay money to it’s clients? We are 100% sure you have never come across such a situation.

But it is noteworthy that banking is basically a business – a business
where:-
i. banks take money from people; and
ii. then give it to people as loan who seek it.

So we want to analyse what do a Bank do when shortage of money is felt in the banks?
The answer is simple & quite straightforward – Banks take help from it’s central bank like Indian banks take help from Reserve Bank of India (RBI).

An Indian pedestrian walks out of The Reserve Bank of India (RBI) building in Mumbai on April 29, 2008. India's central bank held key interest rates steady but hiked the percentage of cash banks must hold in reserve to 8.25 percent to curb inflation riding at over three-year highs.It was the second time the Reserve Bank of India had announced an increase in the cash reserve ratio (CRR) in two weeks as it seeks to suck out excess liquidity in the banking system and fight inflation now at 7.33 percent.    AFP PHOTO Sajjad HUSSAIN

Repo Rate

The Central Bank of any country uses the mechanism of “Repo rate” to revive the banks from the situation of financial deficit or bankruptcy. Repo rate is defined as the rate of interest at which the central bank of a country lends money to the banks (of commercial nature) for short term purposes in case of shortage of funds. It is significant to understand that Repo rate defines the rate of interest for one day maturity period which is famously termed as the key short term lending rate.

The Central Bank is a supreme financial institution in a country that is solely responsible for money supply in an economy and thus responsible for regulating interest rates. Central Bank as a governing body for all commercial banks in country, is meant for supervising the commercial banks’ functioning.

The commercial banks are the banks that deal with the money of the general public. They accept deposits from the general public and extend loans. They provide various banking services such as fixed deposits, cheques etc to businesses, institutions and some individuals. They are accountable to the central banks for their functioning.

Let us consider a bank named XYZ of our country where you supposedly have kept Rs. 1 Crore. Now you urgently require money. Suppose the bank has given a large number of loans as a result of which the Bank doesn?t have enough funds to pay you at present. In such a scenario, the XYZ which is a commercial bank will ask Reserve Bank of Bank (the Central Bank of India) so that it can fulfill our request.

Definition : The Central bank (say RBI in our case) will provide financial aid to the commercial bank (say XYZ in our case) fixed at certain rate of interest which is termed as ?Repo Rate?.

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Reverse Repo Rate

Now the question is What happens if the commercial banks (say XYZ in our case) deposit/keep their money with the central bank?

bl05question_jpg_746164e

Obviously, the banks will receive/get interest on the money which they have kept with the central bank.

Definition : The interest rate received by commercial banks for the amount of money thay have kept with the central bank is termed as the reverse Repo Rate.

Note :Reverse Repo Rate is always lower than the Repo Rate.

repo-and-reverse-repo-rate

Mechanism for controlling inflation through Repo rate?

Inflation is a situation when there is a sudden rise in prices of commodities in a country. As a result, the RBI has to increase the repo rate so as to reduce the money supply in the commodity.

Inflation and Interest

“The banks has to induce in not to borrow money from the RBI in case of increased repo rate and due to which the supply of money in the economy will definitely reduce. And it is certain that as a result of reduced money supply, people will spend less money due to which there will be decrease in the demand of commodity. The prices of the commodities will definitely fall due to decreased demand for commodities, which at last will control inflation.”

Conclusion : By lowering repo rate and increasing the reverse repo rate, inflation can easily be controlled. Furthermore, they also controls the interest rate of commercial banks in loans, mortgages, savings and so on.

Current Rate of Interests

Repo Rate

7.25%
Reverse Repo Rate

6.25%

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English Tips & tricks on Articles for Banking , SSC, and General Competition Exams

Definition

The adjectives a, an and the are called Articles.

Types of Articles

Articles are basically categorized into two broad categories

A.?Indefinite article?A/An
B.?Definite article?The

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Use of Indefinite Article?A/An

a. An is usually used before a word beginning with a?vowel sound
For example
(i) Radha is an intelligent girl.
(ii) He is an MP. ? ? (sound of ?em?p where e is a vowel)
(iii) You are an honest man. ? ?(sound of ?own?est where o is a vowel)

b. ?A is used before a word beginning with a?consonant sound
For example
(i) He is a university student. ?(sound of ?you?niversal where y is a consonant)
(ii) He is a European. ? ?(sound of ?you?ropean where y is a consonant)
(iii) He is a one-eyed man.

Article1

c. A/An is used before a singular countable noun only when it?is mentioned for the first time representing no
particular person or thing.
For example
(i) He has an oxen.
(ii) She is a landlord.
(iii) A boy came to my home.
d. A/An is used before a singular countable noun which is?used as the representative of a class of things or persons.
For example
(i) A lion is a dangerous animal.
(ii) A pupil should obey his teacher.
(iii) A dog is a faithful animal.

e. A/An is used to make a common noun of a proper noun.
For example
(i) My neighbour is a philanthropist.
(ii) She is a Sania Mirza.
(iii) His brother is a PM.

f. A/An is used in exclamations before singular countable?nouns.
For example
(i) What an interesting video
(ii) What a pretty girl
(iii) What a lovely morning

countable-and-uncountable-nouns-personal-care-products-basic-iii-1-2-638

g. A/An is used in its original sense of one or any.
For example
(i) He wants a car.
(ii) There are not fourteen inches in a foot.
(iii) He bought a pen.

Use of Definite Article?The

a. when we talk about a particular person or thing or one?already mentioned.
For example
(i) Give me the pen which you bought last Saturday.
(ii) The book you want is out of stock.
(iii) I met a boy. The boy was handsome.

b. when a singular noun represents a whole class.
For example
(i) The rose is a beautiful flower.
(ii) The dog loves comfort.
(iii) The Neem is a useful tree.

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c. Before the first noun in ?noun + preposition + noun??construction.
For example
(i) The Rama?of Ramayana is an ideal king.
(ii) The diamond of South Africa is famous.
(iii) He likes the food of Jaipur.

d. Before names of mountain-ranges.
For example
The Himalayas, The Alps, The Aravallis

e. Before names of groups of islands.
For example
The West Indies,?The Andamans

f. Before names of rivers, oceans, gulfs, deserts and forests.
For example
The Ganges, ?The Nile,?The Amazon, ?The Indian Ocean,?The Gulf of Mexico, The Thar deseert, The
Black Forest

g. Before names of religious and mythological books.
For example
The Ramayana, The Quran, The Bible

h. Before names of newspapers and magazines.
For example
The Times of India, The?Outlook

i. Before names of heavenly bodies, directions and things?unique of their kind
For example
The sun, The earth,?The moon, The?equator

Note that ?The? is not used before the words ?Parliament, Heaven, God, Hell ?.

j. before names of historical buildings, places and events.
For example
The Red Fort, The Taj Mahal, ?The Siachen, The Dandi March

k. Before musical instruments.
For example
(i) He can play the flute.
(ii) She is fond of playing the guitar.

Note that?When musical instruments are used as countable?nouns, A/An is used.
For example
(i) We bought a sitar for her.
(ii) I gifted him a violin.

l. Before religious communities and political parties.
For example
The Hindus, The Sikhs, The Bhartiya Janta Party

m. Before names of ships, aeroplanes and trains.
For example
The INS Vikrant, The?Qatar Airlines,?The Rajdhani?Express

n. Before the words denoting physical positions or
For example
The centre, The top,?The front, The back
Further,??before parts of body
For example
(ii) He pulled the dog by the tail.
(ii)?Sohan?was hit on the head.

o. Before names of government departments and armed?forces.
For example
The Legislative, The Judiciary, The Executive, The Air Force, The Army

p. Before the dates of months.
For example
The 21st of December, The 5th June

Note that before the ordinals, we also use the articles
For example
The first, The third, The ninth

q. before the superlative degree.
For example
(i) He is?the best guy for this job.
(ii) She is the sweetest?girl in the class.

r. Before the names of a few countries that form federations and provinces.
For example
The USA, ?The Netherlands, The USSR, The Republic of China, ?The?Punjab
t. Before comparative degree in case of making a choice between the two.
For example
(i) He?is the tougher of the two guys.
(ii) She?is the prettier of the two.

Zero?Articles

Sometimes there is no need for using any kind of article. Such articles are known as zero articles.?This term used here is not universal but it is aptly used to denote the reference of omission of articles.

The articles a, an, the are omitted
a. Before names of days and months.
For example
(i) She will go on Monday.
(ii) They are getting married in January.

b. Before names of languages.
For example
(i) He cannot speak French.
(ii) She is learning Marathi.

c. Before names of subjects.
For example
(i) She has no interest in mathematics.
(ii) Biology is his favourite subject.

d. Before names of diseases.
For example
(i) AIDS is spreading like wild fire.
(ii) He died of cancer.

Note that??The? is used before the names of a few diseases.
For example
the plague, the measles,the mumps,

e. Before names of festivals and seasons.
For example
(i) He will go to USA?in winter.
(ii) She celebrated Diwali?with her friends.
But note that
(i) He will go to Canada in the winter season.
(ii) She went to Delhi in the Diwali holidays.

f. Before names of sports.
For example
(i) She plays tennis.
(ii) We like cricket.

g. Before names of meals.
For example
(i) They take lunch at 2 pm.
(ii) Breakfast is ready.

h. Before school, college, church, prison, hospital, bed,?market, when these places are visited or used for their
primary purpose.
For example
(i) She goes to temple?on Sunday.
(ii) The criminal was sent to prison.

i. before man, life, death, art, science, when these words?are used in the widest sense.
For example
(i) Science has developed much in the past fifty years.
(ii) Man is mortal.

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Competition Gurukul?is a premier institute for CTET Coaching.?You can visit our center?to register your slot. You will be guided by ourcounsellor from Monday to Saturday?at scheduled timing of?9 AM to 8 PM.

For More Information Contact

Competition Gurukul
A-1/17, Janakpuri, Main Najafgarh Road,
Opp Metro Pillar 636, New Delhi ? 110058