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Tuesday, 11 March 2014
Postal Assistant Department PA/SA Recruitment Process is Not A fraud
Dear readers, we are getting lot of inquiries whether the recruitment process notified on Department of Posts Government of India (www.indiapost.gov.in) is fraud? This is clarify that, as per our research, this is a genuine recruitment notification and IS NOT A FRAUD one.
Yesterday, an article was published in Dainik Bhaskar (Patna Edition) mentioning that this recruitment process is a fake. Here is the link to this article -
http://epaper.bhaskar.com/detail/?id=1735&boxid=3914522331&ch=bihar&map=map¤tTab=tabs-1&pagedate=03/09/2014&editioncode=385&pageno=1&view=image
This article has created panic among candidates and now everyone seems to be worried whether this is a fake or real recruitment. The basis of above article is that the recruitment link on Department Of Posts leads to a domain www.pasadrexam2014.in, which has been recently created by an individual and belongs to an individual. The basis is totally wrong. Many a times, government do the outsourcing of the recruitment in part or in total. So, even if this website does not belong to government, it is quite possible that is being managed by a private company on behalf of government, specific to this recruitment process.
Similar kind of doubts were raised, when recruitment of Insurance Assistants, we being facilitated on a portal by the name of www.onlinesubmit.in, which was again a genuine recruitment process.
So, do not go by the rumors. This is a genuine recruitment. The link has been published on the official website of Department of Posts (www.indiapost.gov.in).
Sunday, 9 March 2014
GK Power Capsule for Year 2014
Dear readers, we are presenting you the GK Power Capsule for the month of February 2014. This GK Capsule has been prepared by Career Power Institute, Delhi keeping in mind the upcoming bank and SSC exams.
This capsule is a compilation of major news and events appeared in The Hindu Newspaper last month.
This capsule is a compilation of major news and events appeared in The Hindu Newspaper last month.
Geography Quiz
1. The Paithan (Jayakwadi) Hydro-electric project, completed with the help of Japan, is on the river
A. Ganga
B. Cauvery
C. Narmada
D. Godavari
2.The percentage of irrigated land in India is about
A. 45
B. 65
C. 35
D. 25
3. The southernmost point of peninsular India, that is, Kanyakumari, is
A. north of Tropic of Cancer
B. south of the Equator
C. south of the Capricorn
D. north of the Equator
4. The pass located at the southern end of the Nilgiri Hills in south India is called
A. the Palghat gap
B. the Bhorghat pass
C. the Thalgat pass
D. the Bolan pass
5. Which of the following factors are responsible for the rapid growth of sugar production in south India as compared to north India?
I Higher per acre field of sugarcane
II Higher sucrose content of sugarcane
III Lower labour cost
IV Longer crushing period
A. I and II
B. I, II and III
C. I, III and IV
D. I, II and IV
6. The principal copper deposits of India lie in which of the following places?
A. Hazaribag and Singbhum of Bihar
B. Khetri and Daribo areas of Rajasthan
C. Anantapur in Andhra Pradesh
D. Siwaliks in Uttar Pradesh and in Karnataka
7. Which of the following are true regarding Jhum cultivation in India?
I. It is largely practiced in Assam
II. It is referred to as 'slash and burn' technique
III. In it, the fertility is exhausted in a few years
A. I, II and III
B. II and III
C. I and II
D. I and III
8. The Yarlung Zangbo river, in India, is known as
A. Ganga \
B. Indus
C. Brahmaputra
D. Mahanadi
9. The Salal Project is on the river
A. Chenab
B. Jhelum
C. Ravi
D. Sutlej
10. The only zone in the country that produces gold is also rich in iron is
A. North-eastern zone
B. North-western zone
C. Southern zone
D. None of the above
ANSWERS:
1. D
2. C
3. D
4. A
5. D
6. A
7. A
8. C
9. A
10. C
A. Ganga
B. Cauvery
C. Narmada
D. Godavari
2.The percentage of irrigated land in India is about
A. 45
B. 65
C. 35
D. 25
3. The southernmost point of peninsular India, that is, Kanyakumari, is
A. north of Tropic of Cancer
B. south of the Equator
C. south of the Capricorn
D. north of the Equator
4. The pass located at the southern end of the Nilgiri Hills in south India is called
A. the Palghat gap
B. the Bhorghat pass
C. the Thalgat pass
D. the Bolan pass
5. Which of the following factors are responsible for the rapid growth of sugar production in south India as compared to north India?
I Higher per acre field of sugarcane
II Higher sucrose content of sugarcane
III Lower labour cost
IV Longer crushing period
A. I and II
B. I, II and III
C. I, III and IV
D. I, II and IV
6. The principal copper deposits of India lie in which of the following places?
A. Hazaribag and Singbhum of Bihar
B. Khetri and Daribo areas of Rajasthan
C. Anantapur in Andhra Pradesh
D. Siwaliks in Uttar Pradesh and in Karnataka
7. Which of the following are true regarding Jhum cultivation in India?
I. It is largely practiced in Assam
II. It is referred to as 'slash and burn' technique
III. In it, the fertility is exhausted in a few years
A. I, II and III
B. II and III
C. I and II
D. I and III
8. The Yarlung Zangbo river, in India, is known as
A. Ganga \
B. Indus
C. Brahmaputra
D. Mahanadi
9. The Salal Project is on the river
A. Chenab
B. Jhelum
C. Ravi
D. Sutlej
10. The only zone in the country that produces gold is also rich in iron is
A. North-eastern zone
B. North-western zone
C. Southern zone
D. None of the above
ANSWERS:
1. D
2. C
3. D
4. A
5. D
6. A
7. A
8. C
9. A
10. C
BANKING AWARENESS: Credit Cards
Dear Reader,
In our previous post, we provided to you the brief about ATM. Today, we are presenting to you the brief about Credit Cards.
CREDIT CARDS: A card issued by a financial company giving the holder an option to borrow funds, usually at point of sale. Credit cards charge interest and are primarily used for short-term financing. Interest usually begins one month after a purchase is made and borrowing limits are pre-set according to the individual's credit rating.
1. Alternative to cash - Credit card is a better alternative to cash. It removes the worry of carrying various currency denominations to pay at the trade counters. It is quite easy and way fast to use a credit card rather than waiting for completion of cash transactions. As an alternative, credit card helps a cardholder to travel anywhere in the world without a need to carry an ample amount of cash. It also reduces the possible risk of money theft and gives its user a complete peace of mind.
2. Credit limit - The credit cardholder enjoys the facility of a credit limit set on his card. This limit of credit is determined by the credit card issuing entity (bank or NBFC) only after analyzing the credit worthiness of the cardholder.
The credit limit is of two types, viz.,
a. Normal credit limit is usual credit given by the bank or NBFC at the time of issuing a credit card.
b. Revolving credit limit varies with the financial exposure of the credit cardholder.
3. Aids payment in domestic and foreign currency - Credit card aids its cardholder to make payments in any currency of choice. In other words, it gives its holder a unique facility to make payments either in domestic (native) currency or if necessary, also in foreign (non-native) currency, that too as and when required.
Credit card reduces the cumbersome process of currency conversion. That is, it removes the financial complexities often encountered in converting a domestic currency into a foreign currency. It is because of this feature, a credit cardholder can possibly make payments to merchants present in any corner of the world.
4. Record keeping of all transactions - Credit card issuing entities like banks or NBFCs keeps a complete record of all transactions made by their credit cardholders. Such a record helps these entities to raise appropriate billing amounts payable by their cardholders, either on a monthly or some periodic basis.
5. Regular charges - Regular charges are basic routine charges charged by the credit card issuing entity on the usage of credit card by its cardholder. These charges are nominal in nature.
The regular charges are primarily classified into two types, viz.
Annual charges are collected on per annum or yearly basis.
Additional charges are collected for other supplementary services provided by the credit card issuing entity. Such services include, add-on-card (an additional credit card), issue of a new credit card, etc.
6. Grace period - The grace period is referred to those minimum numbers of additional days within which a credit cardholder has to pay his credit card bill without any incurring interest or financial charges.
7. Higher fees on cash withdrawals - Credit-card issuer makes charges on cash withdrawals made through credit card at the ATM outlets and other desks. Generally, cash withdrawal fees are quite higher than fees charged by the bank or NBFC for the other regular credit transactions. On cash withdrawn done through a credit card, interest is charged from the same day. That is, interest is charged since the day on which cash is withdrawn. Usually, no grace period is provided for cash transactions.
8. Additional charges for delay in payment - The credit card payment is supposed to be made within a due date as mentioned on the bill of a credit card. If payment is not paid on time, then a credit-card issuer charges some additional costs, which are resulted due to delay in payment. These charges are charged to compensate (recover) the interest cost, administration cost and any other related costs bared by the credit card issuing entity.
9. Service tax - Service tax is included in the total amount charged to the credit cardholder. This mandatory service tax imposed by the government also increases the final end cost bared by a credit cardholder. Many credit card providers (issuing entities) have policies of reversing the service tax charged on the purchase of gas, fuel and other similar goods.
10. Bonus points - The competition among the credit card providers is unbending (adamant). Offering various incentives is usually a trendy way to improve the sale of the products in the ordinary course of business.
11. Gifts and other offers - At a later stage, accumulated bonus points are redeemed either by converting them into gifts, cash back offers, or any other similar compelling offers.
ADVANTAGES:
1. Purchase Power and Ease of Purchase - Credit cards can make it easier to buy things. If you don't like to carry large amounts of cash with you or if a company doesn't accept cash purchases (for example most airlines, hotels, and car rental agencies), putting purchases on a credit card can make buying things easier.
2. Protection of Purchases - Credit cards may also offer you additional protection if something you have bought is lost, damaged, or stolen. Both your credit card statement (and the credit card company) can vouch for the fact that you have made a purchase if the original receipt is lost or stolen. In addition, some credit card companies offer insurance on large purchases.
3. Building a Credit Line - Having a good credit history is often important, not only when applying for credit cards, but also when applying for things such as loans, rental applications, or even some jobs. Having a credit card and using it wisely (making payments on time and in full each month) will help you build a good credit history.
4. Emergencies - Credit cards can also be useful in times of emergency. While you should avoid spending outside your budget, sometimes emergencies may lead to a large purchase.
5. Credit Card Benefits - In addition to the benefits listed above, some credit cards offer additional benefits, such as discounts from particular stores or companies, bonuses such as free airline miles or travel discounts, and special insurances (like travel or life insurance.) While most of these benefits are meant to encourage you to charge more money on your credit card, the benefits are real and can be helpful as long as you remember your spending limits.
DISADVANTAGES
1. Blowing Your Budget - The biggest disadvantage of credit cards is that they encourage people to spend money that they don't have. Most credit cards do not require you to pay off your balance each month, so even if you only have Rs.100, you may be able to spend up to Rs.500 or Rs.1,000 on your credit card. While this may seem like 'free money' at the time, you will have to pay it off -- and the longer you wait, the more money you will owe since credit card companies charge you interest each month on the money you have borrowed.
2. High Interest Rates and Increased Debt - Credit card companies charge you an enormous amount of interest on each balance that you don't pay off at the end of each month. This is how they make their money and this is how most people get into debt (and even bankruptcy.)
3. Credit Card Fraud - Like cash, sometimes credit cards can be stolen. They may be physically stolen (if you lose your wallet) or someone may steal your credit card number (from a receipt, over the phone, or from a Web site) and use your card.
CONCLUSION:
Credit cards can make life easier and be a great tool, but if they aren't used wisely they can become a huge financial burden. If you do decide to use credit cards, remember these simple rules:
1. Keep track of all your purchases.
2. Don't spend outside your budget.
3. Pay off your balance on all of your credit cards at the end of each month.
4. Don't loan your credit or give out your credit card information to anyone but reliable companies.
5. Physical protection of the credit card as well as in the isolation (confidentiality) of the credit card number, card value number (CVV), personal identification number (PIN) and other sensitive credentials of the credit cardholder.
In our previous post, we provided to you the brief about ATM. Today, we are presenting to you the brief about Credit Cards.
CREDIT CARDS: A card issued by a financial company giving the holder an option to borrow funds, usually at point of sale. Credit cards charge interest and are primarily used for short-term financing. Interest usually begins one month after a purchase is made and borrowing limits are pre-set according to the individual's credit rating.
1. Alternative to cash - Credit card is a better alternative to cash. It removes the worry of carrying various currency denominations to pay at the trade counters. It is quite easy and way fast to use a credit card rather than waiting for completion of cash transactions. As an alternative, credit card helps a cardholder to travel anywhere in the world without a need to carry an ample amount of cash. It also reduces the possible risk of money theft and gives its user a complete peace of mind.
2. Credit limit - The credit cardholder enjoys the facility of a credit limit set on his card. This limit of credit is determined by the credit card issuing entity (bank or NBFC) only after analyzing the credit worthiness of the cardholder.
The credit limit is of two types, viz.,
a. Normal credit limit is usual credit given by the bank or NBFC at the time of issuing a credit card.
b. Revolving credit limit varies with the financial exposure of the credit cardholder.
3. Aids payment in domestic and foreign currency - Credit card aids its cardholder to make payments in any currency of choice. In other words, it gives its holder a unique facility to make payments either in domestic (native) currency or if necessary, also in foreign (non-native) currency, that too as and when required.
Credit card reduces the cumbersome process of currency conversion. That is, it removes the financial complexities often encountered in converting a domestic currency into a foreign currency. It is because of this feature, a credit cardholder can possibly make payments to merchants present in any corner of the world.
4. Record keeping of all transactions - Credit card issuing entities like banks or NBFCs keeps a complete record of all transactions made by their credit cardholders. Such a record helps these entities to raise appropriate billing amounts payable by their cardholders, either on a monthly or some periodic basis.
5. Regular charges - Regular charges are basic routine charges charged by the credit card issuing entity on the usage of credit card by its cardholder. These charges are nominal in nature.
The regular charges are primarily classified into two types, viz.
Annual charges are collected on per annum or yearly basis.
Additional charges are collected for other supplementary services provided by the credit card issuing entity. Such services include, add-on-card (an additional credit card), issue of a new credit card, etc.
6. Grace period - The grace period is referred to those minimum numbers of additional days within which a credit cardholder has to pay his credit card bill without any incurring interest or financial charges.
7. Higher fees on cash withdrawals - Credit-card issuer makes charges on cash withdrawals made through credit card at the ATM outlets and other desks. Generally, cash withdrawal fees are quite higher than fees charged by the bank or NBFC for the other regular credit transactions. On cash withdrawn done through a credit card, interest is charged from the same day. That is, interest is charged since the day on which cash is withdrawn. Usually, no grace period is provided for cash transactions.
8. Additional charges for delay in payment - The credit card payment is supposed to be made within a due date as mentioned on the bill of a credit card. If payment is not paid on time, then a credit-card issuer charges some additional costs, which are resulted due to delay in payment. These charges are charged to compensate (recover) the interest cost, administration cost and any other related costs bared by the credit card issuing entity.
9. Service tax - Service tax is included in the total amount charged to the credit cardholder. This mandatory service tax imposed by the government also increases the final end cost bared by a credit cardholder. Many credit card providers (issuing entities) have policies of reversing the service tax charged on the purchase of gas, fuel and other similar goods.
10. Bonus points - The competition among the credit card providers is unbending (adamant). Offering various incentives is usually a trendy way to improve the sale of the products in the ordinary course of business.
11. Gifts and other offers - At a later stage, accumulated bonus points are redeemed either by converting them into gifts, cash back offers, or any other similar compelling offers.
ADVANTAGES:
1. Purchase Power and Ease of Purchase - Credit cards can make it easier to buy things. If you don't like to carry large amounts of cash with you or if a company doesn't accept cash purchases (for example most airlines, hotels, and car rental agencies), putting purchases on a credit card can make buying things easier.
2. Protection of Purchases - Credit cards may also offer you additional protection if something you have bought is lost, damaged, or stolen. Both your credit card statement (and the credit card company) can vouch for the fact that you have made a purchase if the original receipt is lost or stolen. In addition, some credit card companies offer insurance on large purchases.
3. Building a Credit Line - Having a good credit history is often important, not only when applying for credit cards, but also when applying for things such as loans, rental applications, or even some jobs. Having a credit card and using it wisely (making payments on time and in full each month) will help you build a good credit history.
4. Emergencies - Credit cards can also be useful in times of emergency. While you should avoid spending outside your budget, sometimes emergencies may lead to a large purchase.
5. Credit Card Benefits - In addition to the benefits listed above, some credit cards offer additional benefits, such as discounts from particular stores or companies, bonuses such as free airline miles or travel discounts, and special insurances (like travel or life insurance.) While most of these benefits are meant to encourage you to charge more money on your credit card, the benefits are real and can be helpful as long as you remember your spending limits.
DISADVANTAGES
1. Blowing Your Budget - The biggest disadvantage of credit cards is that they encourage people to spend money that they don't have. Most credit cards do not require you to pay off your balance each month, so even if you only have Rs.100, you may be able to spend up to Rs.500 or Rs.1,000 on your credit card. While this may seem like 'free money' at the time, you will have to pay it off -- and the longer you wait, the more money you will owe since credit card companies charge you interest each month on the money you have borrowed.
2. High Interest Rates and Increased Debt - Credit card companies charge you an enormous amount of interest on each balance that you don't pay off at the end of each month. This is how they make their money and this is how most people get into debt (and even bankruptcy.)
3. Credit Card Fraud - Like cash, sometimes credit cards can be stolen. They may be physically stolen (if you lose your wallet) or someone may steal your credit card number (from a receipt, over the phone, or from a Web site) and use your card.
CONCLUSION:
Credit cards can make life easier and be a great tool, but if they aren't used wisely they can become a huge financial burden. If you do decide to use credit cards, remember these simple rules:
1. Keep track of all your purchases.
2. Don't spend outside your budget.
3. Pay off your balance on all of your credit cards at the end of each month.
4. Don't loan your credit or give out your credit card information to anyone but reliable companies.
5. Physical protection of the credit card as well as in the isolation (confidentiality) of the credit card number, card value number (CVV), personal identification number (PIN) and other sensitive credentials of the credit cardholder.
Banking Awareness: CASA
In continuation to our Banking Awareness series, today we are providing you a brief about CASA.
Casa Ratio: Casa is
basically the current and savings account deposits. The CASA ratio shows how
much deposit a bank has in the form of current and saving account deposits in
the total deposit.
If the CASA
ratio is higher than it means that a higher portion of the deposits have come
from current and savings deposit.
This means
that the bank is getting money at low cost, since no interest is paid on the
current accounts and the interest paid on savings account is usually low.
Current and
Saving Accounts are demand deposits and therefore pay lower interest rates
compared to term deposits where the rates are higher.
In India,
interest rates paid on current and savings account deposits is administered by
banking regulator - the Reserve Bank of India.
Why are
banks keen on gained a higher share of CASA?
Interest rate
paid on Casa is much lower compared to other deposits like term deposits or
recurring deposits. While banks do not pay any interest on current account,
interest paid on savings account deposit is 4%.
Banks
therefore make maximum effort to increase the share of Casa on their books to
reduce their overall cost of deposits. HDFC Bank has the highest share of Casa
to total deposits at 52%, followed by the State Bank of India at 48% and ICICI
Bank at 45%.
What does
Casa mean for customers?
Recently
interest paid on savings account deposits is 4%. Banks pay interest on savings
deposits on a daily basis rather than paying on the minimum balance maintained
by them in six months.
As a result,
savings account customers earn better returns compared to what they earned a
year ago.
Further,
interest earned on savings account deposits does not attract TDS (tax deduction
at source). Interest income above 10,000 a year attracts TDS of 10% in case of
term deposits. However, there is no major benefit for current account deposits,
which is mainly maintained by corporates and traders.
What are
the disadvantages of high CASA?
These
deposits can move out of banks' books anytime, leading to asset-liability
mismatches. While in case of term deposits, banks are almost certain that the
depositor may not withdraw money before the maturity of the deposit and may
also renew the deposit on maturity.
Further, to
finance long-term projects, banks need to have long-term liabilities on their
books to avoid mismatches. Banks cannot rely on Casa deposits to fund long-term
loans.
Sources of Indian Constitution
Dear readers, Today we are going to discuss about constitution. Our constitution adopted best
features of many constitution of world. Here is a detail list of sources of
Indian constitution. We are providing this list by keeping SSC CGL aspirants in
mind. But it can be helpful in all competitive exams.
-
Computer Hardware Basics
-
Classification / Types of Computers (based on Performance)
-
SBI Clerks 2016 Online Exam Call Letters out
-
Circular Track Problems In Aptitue For Competitive Exams
-
Most Important Study Material for All Exams 2014
-
List of India’s 28 States, Capitals, Chief Ministers and Governors
-
Important Clarification about Election Commissioner(s) of India
-
Bharat Ratna Nelson Mandela Dies
-
Why don’t we feel the Earth’s rotation?
-
How Can I Succeed
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