BANKERS MANTRA

Like facebook page...Follow link...www.facebook.com/sahdevagwl

1.    International Day for the Eradication of Poverty observed today i. International Day for the Eradication of Poverty was observed across the world on 17 October 2014. ii. The theme for the day was Leave no one behind: think, decide and act together against extreme poverty. iii. The 2014 theme recognises and underscores the demanding challenge of identifying and securing the participation of those experiencing extreme poverty and social exclusion in the Post-2015 Development Agenda, which will replace the Millennium Development Goals. iv. The day was observed to promote people’s awareness on the need to eradicate poverty and destitution worldwide. Note: On the other hand, Argentina, Luxembourg, South Korea, Australia and Rwanda will step down from their seats on 31 December 2014 to make way for the newly-elected members. 2.    RBI inks MoU with Kenya's central bank for info exchange i. The Reserve Bank has signed a pact with Central Bank of...

ISRO successfully launched third navigation satellite IRNSS 1C i. Indian Space Research Organization (ISRO) on 16 October 2014 successfully launched third navigation satellite Indian Regional Navigation Satellite System (IRNSS) 1C. ii. Polar Satellite Launch Vehicle (PSLV) C26 injected IRNSS 1C into the designated orbit from the first launch pad of Satish Dhawan Space Centre in Sriharikota. This was the 27th consecutive successful flight of PSLV. iii. Initially, the satellite was injected into a sub-geosynchronous transfer orbit with a 282.56 km perigee (nearest point to Earth) and 20670 km apogee (farthest point from Earth).

Part-1st to continue. ... 8. What is KYC?       The Reserve Bank of India (RBI) has advised banks to follow ‘KYC guidelines’, wherein certain personal information of the account-opening prospect or the customer is obtained. The objective of doing so is to enable the Bank to have positive identification of its customers.  This is also in the interest of customers to safeguard their hard earned money.       The KYC guidelines of RBI mandate banks to collect three proofs from their customers. They are- Photograph                    Proof of identity             Proof of address 9. What is Sub-prime crisis? The current Subprime crisis is due to sub-prime lending. These are the loans given to the people having low credit rating. 10. What is Base Rate?  ...

Budget- Budget is the estimation of income and expenditure. Budget is prepared for proper and systematic development. Budget represent in 3 ways- 1. Income> expenditure= surplus 2. Income= expenditure= balance budget 3. Income< expenditure = deficit budget Note- India's budget is always deficit because India is a developing country. Sources of Money for Government- 1. Loan from RBI 2. Government securities 3. Loan from Asian development Bank and world bank Categories of Budget- 1. Gender Budget 2. Zero base Budget 3. Outcome Budget 4. Traditional Budget 5. Performance Budget 6. Interim Budget 1. Gender Budget- When budget is female oriented is called gender budget. 2. Zero base Budget- When government form budget without considering last years budget performance that is called zero base budget. 3. Outcome Budget- When budget is result oriented(means particular sector growth related). 4. Traditional Budget- When income estimated and expenditure fixed is ca...

1.    Arvind Subramanian appointed new Chief Economic Advisor i. Arvind Subramanian became chief economic advisor to the Indian government on Thursday. ii. Mr. Subramanian, a senior fellow at the Peterson Institute for International Economics in Washington, attended a news conference in New Delhi at which his appointment was announced. iii. He is a development economist who worked closely with Reserve Bank of India Governor Raghuram Rajan when both were at the International Monetary Fund. iv. Mr. Subramanian, said he was hopeful on the economy and that macro-economic stability and creating the conditions for investment would be priorities. v. Kaushik Basu (World Bank Chief Economist) and Raghuram Rajan (current RBI Governor and former IMF chief economist) were the other two internationally renowned economists who recently served as CEA. 2.    Rajiv Mehrishi appointed new finance secretary i. Rajiv Mehrishi, the top bureaucrat from Rajasthan, replace...

India's Current State Governor’s •    E. S. L. Narasimhan       -Andhra Pradesh •    Nirbhay Sharma          -Arunachal Pradesh •    Janaki Ballabh Patnaik            - Assam •    D. Y. Patil                               - Bihar •    Balramji Das Tandon              - Chhattisgarh •    Mridula sinha                          - Goa •    Om Prakash Kohli                  - Gujarat •    Ka...