New Bank Rate and MSF are 10.25%

In a move to stem the continuing fall of rupee, the Reserve Bank of India (RBI) has raised in short-term rates with effect from July 15, 2013.  It will help to restore stability to the foreign exchange market .  Last week the Indian currency touched an all-time low of 61.21 vis-a-vis USD. The Reserve Bank of India had not stepped in to curb rupee fall initially, but after a meeting with the government decided to raise the marginal standing facility or MSF along with Bank Rates. So, the RBI has raised Bank Rate to 10.25% from 8.25%. In result the marginal standing facility (MSF) rate also raised to 10.25%. Remaining rates will be unchanged. This will be an indirect rate hike and will reduce the pressure on the rupee. 

Check Current Rates of RBI from here

05:18 - By Unknown 0

 Deccan Grameena Bank Recruitment of POs and Clerks (2nd Round)

Deccan Grameena Bank, a leading Regional Rural Banks of Andhra Pradesh state, having its head office situated at Hyderabad sponsored by State Bank of Hyderabad,  is inviting online applications from eligible Indian citizens who have appeared and qualified the Common Written Examination for RRBs conducted by IBPS in September 2012, for filling up the posts of Officer in Junior Management (Scale I) Cadre and Office Assistant (Multipurpose). You can apply online from 18th July 2013 to 1st August 2013. 

Detailed list of Vacancies : 

S. No	Name of the Post	SC	ST	OBC	General	Total
1	Officers Scale I	10	07	23	36	76
2	Office Assistants (Multipurpose)	18	10	16	33	77

Application Fee :

• Officer (Scale I)
• Rs. 20/- for SC/ST/PWD candidates.
• Rs.100/- for all others
• Office Assistant (Multipurpose) 
• Rs. 20/- for SC/ST/PWD/EXSM candidates.
• Rs.100/- for all others

Age :

• For Officer Scale - I : Above 18 years - Below 28 years
• For Office Assistant : Between 18 years and 28 years

Required IBPS Score to Apply : 

For Office Assistants :

Name of the Test	Qualifying Standard Score
	SC/ ST/ SC-PWD/ ST-PWD/ SCEXS/ ST-EXS	OBC/ GEN/ OBC-PWD/ GEN-PWD/ OBC-EXS/ GEN-EXS
Reasoning	17 & above	19 & above
Numerical Ability	17 & above	19 & above
General Awareness	17 & above	19 & above
English Language or Hindi Language	17 & above	19 & above
Computer Knowledge	17 & above	19 & above
Cutoffs on Total Weighted Standard Score	89 & above	95 & above

For Officer Scale I

Name of the Test	Qualifying Standard Score
	SC/ ST/ SC-PWD/ ST-PWD	OBC/ GEN/ OBC-PWD/ GEN-PWD
Reasoning	17 & above	19 & above
Quantitative Aptitude	17 & above	19 & above
General Awareness	17 & above	19 & above
English Language or Hindi Language	17 & above	19 & above
Computer Knowledge	17 & above	19 & above
Cutoffs on Total Weighted Standard Score for Officer Scale-I	97 & above	103 & above

Check detailed notification of Deccan Grameena Bank Recruitment Notification from here

Download Challan of SBH from here

Download Challan of DGB from here

Apply online from here

(the link will be activated from 18th July 2013)

05:17 - By Unknown 0

 Postal Assistants / Sorting Assistants (PA / SA) Results Out

Friends, the results of Postal Assistants / Sorting Assistants exam 2013 are out.  You can check the List of shortlisted candidates for the Computer Typing / Data Entry (PAPER II) for Andhra Pradesh, Gujrat, Karnataka, Maharashtra, Tamil Nadu, Assam, Chhattisgarh, Jharkhand, Madhya Pradesh, North East, Odisha, West Bengal Postal Circles from the below link. All the Best :)

Note :  The Facility of generation of Admit Card by the shortlisted candidates will be available in Postal Department's website from 22nd July 2013.

Check your result of Postal Assistants Exam 2013 from here 

 

Thanks to Swathiprit Shetty for the update

05:16 - By Unknown 0

 Complete List of RBI Governors

Friends, here is the list of the Reserve Bank of India (RBI) governors along with their joining and leaving dates. Hope it will help you in your preparation. Happy Reading :)

RBI Governors List :

1. Sir Osborne Smith (1 April 1935 – 30 June 1937)
2. Sir James Braid Taylor (1 July 1937 – 17 February 1943)
3. Sir C. D. Deshmukh (11 August 1943 – 30 June 1949)
4. Sir Benegal Rama Rau (1 July 1949 – 14 January 1957)
5. K. G. Ambegaonkar (14 February 1957 – 28 February 1957)
6. H. V. R. Iyengar (1 March 1957 – 28 February 1962)
7. P. C. Bhattacharya (1 March 1962 – 30 June 1967)
8. L. K. Jha (1 July 1967 – 3 May 1970)
9. B. N. Adarkar (4 May 1970 – 15 June 1970)
10. S. Jagannathan (16 June 1970 – 19 May 1975)
11. N. C. Sen Gupta (19 May 1975 – 19 August 1975)
12. K. R. Puri (20 August 1975 – 2 May 1977)
13. M. Narasimham (2 May 1977 – 30 November 1977)
14. Dr. I. G. Patel (1 December 1977 – 15 September 1982)
15. Dr. Manmohan Singh (16 September 1982 – 14 January 1985)
16. A. Ghosh (15 January 1985 – 4 February 1985)
17. R. N. Malhotra (4 February 1985 – 22 December 1990)
18. S. Venkitaramanan (22 December 1990 – 21 December 1992)
19. Dr. C. Rangarajan (22 December 1992 – 21 November 1997)
20. Dr. Bimal Jalan (22 November 1997 – 6 September 2003)
21. Dr. Y. V. Reddy (6 September 2003 – 5 September 2008)
22. Dr. D. Subbarao (6 September 2008 – present) - 2nd Term

05:14 - By Unknown 0

 Functions / Duties of the RBI Governor

Friends, have you ever wondered what is the job profile of RBI Governor? What tasks / functions / duties does he perform ? In my childhood I was just used to think that, he is the person who checks all the printed notes in India and signs on it if he satisfies with the quality of the note. It took me almost 8 years to realize that signing on currency notes is not the only thing which is being done by RBI Governor. There are a number of special and important functions to discuss. As many of our friends are preparing for RBI Assistants and Grade B Officers, lets discuss about these functions / duties performed by the Governor of RBI. We hope this post will be inspirational as well as useful for those people who are appearing for the above mentioned RBI Exams.

What Does RBI Governor Do ?

• He sits at the Central Office of the Reserve Bank (which was initially established in Calcutta but was permanently moved to Mumbai in 1937) and formulates all the policies.
• Ofcourse, he cant sign on every note issued by RBI as I was thinking, but His autograph appears on all currency notes and he controls the country's monetary, currency and credit systems.
• In simple words, we can call him the bankers' banker. He is also the banker to the government.
• He totally influences a wide range of micro and macro economic issues in the country.
• His actions influence not only the entire banking system, but also the stock markets, the economy and people's lives in general. Indeed, if he sneezes, the markets tend to catch a cold.
• He heads an institution which is the sole authority for issuing bank notes. The central bank chief also supervises all banking operations in the country. He supervises and administers exchange control and banking regulations.
• Besides administering the government's policy, he also issues licenses for new banks, private banks and foreign banks.
• He helps formulates, implement and monitor the monetary policy. The objective is to maintain price stability and ensure adequate flow of credit to productive sectors.
• The central bank chief announces the biannual Monetary and Credit Policy. The governor announces the changes (if any) in the policy for the year: whether there will be a cut in the cash reserve ratio, bank rate, lending rate, and interest rate. It will also project the gross domestic product growth of the country for the year.
• He controls the country's interest rates on deposits and advances, but only to the extent of prescribing interest rate on saving accounts and a minimum lending rate. He prescribes the minimum cash reserve and liquid assets to be maintained as a ratio of net demand and time liabilities, and also lays down norms for investments in other assets by primary co-operative banks.
• He regulates and supervises the nation's financial system. He sets down broad parameters of banking operations within which the country's banking and financial system functions. The aim is to maintain public confidence in the system, protect depositors' interest and provide cost-effective banking services to the public.
• He manages the Foreign Exchange Management Act, 1999 to facilitate external trade and payment and promote orderly development and maintenance of foreign exchange market in India.
• He monitors the issues and exchange (or destruction) of currency and coins not fit for circulation to give the public adequate quantity of supplies of currency notes and coins and in good quality.
• He also monitors the implementation of government-sponsored poverty alleviation schemes.
• He plays a vital role in helping promote functions to support national objectives.
• He, with his deputy governors constantly reviews rules and regulations imported by RBI to make them more customer-friendly.
• He also governs and supervises primary co-operative banks, popularly known as 'urban co-operative banks,' through his Urban Banks Department.
• The RBI governor also has a say in monitoring and facilitating flow of credit to rural, agricultural and small-scale industries' sectors, framing policies on priority sector lending, giving support to agriculture banks, and regulates regional rural banks, state/central co-operative banks and local area banks.
• Present Governor of RBI is Mr. Duvvuri Subbarao (2nd Term). Deputy Governors are K. C. Chakravarthi, Anand Sinha, Harun Rashi Khan, Urijit Patel.
• Important Point to Note :  Ofcourse it is irrelevant to this topic but very important for your upcoming RBI Exams. Mr Urijit Patel is the new bee in the RBI Governor's team. He joined as the deputy governor on 14th January 2013 succeeding Subir Gokarn.

That's all for now Friends. Hope you enjoyed this post. Happy Reading :) 

08:44 - By Unknown 0

 Novac Djokovic finishes World No. 1 for Second Straight year

According to rankings released by the ATP on Monday (19th November 2012) Serbian professional tennis player Novak Djokovic finishes as world number one for the second straight year, as he sits top of the final 2012. Djokovic got 12 920 points as the Swiss professional tennis player Roger Federer got second place with 10 265 points, Andy Murray in third place and Rafael Nadal in fourth despite being on the injury sidelines since July. Check the complete list of rankings below.

Top 10 Rankings with Points they got

1. Novak Djokovic (SRB) with 12 920 pts

2. Roger Federer (SUI) with 10 265 pts

3. Andy Murray (GBR) with  8 000 pts

4. Rafael Nadal (ESP) with 6 795 pts

5. David Ferrer (ESP) with 6 430 pts

6. Tomas Berdych (CZE) with 4 680 pts

7. Juan Martin Del Potro (ARG) with 4 480 pts

8. Jo-Wilfried Tsonga (FRA) with 3 490 pts

9. Janko Tipsarevic (SRB) with 2 990 pts

10. Richard Gasquet (FRA) with 2 515 pts

Guide4BankExams is now www.Gr8AmbitionZ.com

08:43 - By Unknown 0

 Meet the New Chairman of LIC - S K Roy

The government has announced S K Roy as the new chairman of state-run largest insurance company LIC (Life Insurance Corporation of India). Roy, who is presently a Managing Director in the organisation, would be succeeding D K Mehrotra, whose term as LIC chief ended on May 31. The government had interviewed five candidates for the post of the chairman, including managing director Sushobhan Sarkar, LIC Housing Finance MD & CEO V K Sharma, and three executive directors, S B Mainak, Roy and Usha Sangwan.  Roy was shortlisted from among those five candidates. Roy, who was elevated as LIC’s managing director last month, will get a five-year term as chairman.

kirti shirwayya

08:42 - By Unknown 0