Upcoming bank and government exams in 2017

The candidate should be careful while filling out the application

More than 1.5 crores candidates took up the bank exams of IBPS (Institute of Banking Personnel Selection) in the last three years and vacancies in the Indian banks equaling 68000 were occupied.

When it comes to making a career choice that promises security and financial stability, bank jobs in India have always been roped in first. Public sector banks are getting a tough competition from private banks. As a result, they are reaching out to rural and semi-urban areas. Despite the rise of Information Technology, millions of people still prefer bank jobs and apply for various positions in public sector banks.

Here’s the list of upcoming bank exams and jobs in 2017. It also features other government exams.

Listed are the important details regarding the Bank Exams and jobs for the year 2017-18:

How to Apply for SBI Management Executive Recruitment:

An aspiring candidate should have their valid active email ID for better communications regarding results other important announcements. It helps them receive Call Letter/Interview Advices and other important documents by email. The candidate has to register online through the Bank’s website https://bank.sbi/careers and www.sbi.co.in/careers and pay the application.
The candidate should scan their latest photograph and signature. This is essential for online application otherwise the application would be invalidated.

The candidate should go the bank’s website (www.bank.sbi/careers/) and (www.sbi.co.in/careers). In the Recruitment link, select the suitable online application format. Read more

'Demonetisation may have cost banks Rs 3,000 cr per day'

On Wednesday, the Reserve Bank of India (RBI) withdrew its previous directive that required deposits above Rs 5,000 in old currency notes be justified to two bank officers. To understand the impact of this move, Business Standard spoke to the HARVINDER SINGH, general secretary of the All India Bank Officers Confederation.

The Reserve Bank of India (RBI) has withdrawn its previous directive that required deposits above Rs 5,000 in old currency notes to be explained to bank officers. What do you make of this?

Breaking News : We have been pleading before RBI and Ministry of Finance that instructions issued for general public must be always clear. What was happening was that instructions issued through electronic media or notifications were reaching banks much later than when the people at large were coming to know. There was time gap between the implementation of the instructions issued by the RBI/government because when the instructions reach banks, they would have to modify their systems so that the instructions are implemented.

For example, one instruction came that we will permit withdrawal of 2.5 lakhs per family where there are marriages. Lot of conditionality were put. But these instructions were made viral during the mid of the day but actually these instructions were received by banks two days after. For these 2-3 days bank officers were facing a lot of problem.

Right from the day this policy of demonetization was declared we have been pleading with the RBI and government that you consult with us. We will give you the ground level problems. We will give you suggestions for smoother implementation. But no opportunity was ever granted to us.Read more.

Now, banks asking for source of funds deposited in old currency

A day after the Union government announced that bank customers would now need to provide satisfactory explanation while depositing more than Rs 5,000 in old currency notes, every bank has come out with its own way to evaluate its customers.

At one of the Central Bank branches in the national capital, the bank manager appeared reluctant to accept old currency in the denomination of Rs 500 and Rs 1,000. “This new scheme is to fix the bank officials. They will ask me why I took money in old currency,” said the visibly upset manager, who did not wish to be identified.

The manager was asking each customers to write an application detailing why she didn’t deposit the money before December 20. The bank has also designed a form asking the customers to fill details like name, account number, and since when she had held an account at the branch.

The customers were also being asked about the details of their last deposit. Some customers were asked to attach copies of their PAN, along with their application letters.

The customers in their applications mentioned various reasons for not depositing the money earlier. However, long bank queues and December 30 being the initial deadline for depositing cash were the most cited reasons on the application forms.

At another public sector bank, the branch manager was yet to begin the process of accepting old currency notes above Rs 5,000 in total value. “I am yet to get directions from my seniors,” the manager said on the condition of not being identified. But the manager was clear that no old currency would be accepted if the customer didn’t have any concrete reasons.

“I will ask for evidence of hospitalisation or travel because I don’t want to face any inquiry in the future,” the manager said.

Private banks, a few of which are under scrutiny over money laundering to businessmen, are more sceptical. The second-largest private bank has come out with a form asking customers to detail the source of funds, besides other details.

Read more about Trending News :

• Shortage of new notes: Several discrepancies emerge in RBI, Govt figures
• Demonetisation: The curious case of cash shortage and currency hoarding
• Cyrus Mistry gives up the battle but set for a bigger war with Tatas
• China returns underwater drone to US after spat with Donald Trump
• Modi govt to offer tax benefit to promote cashless economy
• Modi vs Rahul: Note ban battle reaches UP and here are the highlights

नए साल में मिल सकती है सौगात

प्रधानमंत्री नरेंद्र मोदी की नोटबंदी की योजना को शुरुआत में जन समर्थन मिला था लेकिन अब यह स्थिति सरकार पर भारी पड़ सकती है। हालांकि सरकार के सलाहकारों का दावा है कि नकदी संकट का बुरा दौर जल्दी ही खत्म हो जाएगा। नोटबंदी को लेकर लोगों के बीच बन रही नकारात्मक धारणा को दूर के लिए प्रधानमंत्री मध्य वर्ग और गरीबों के लिए नए वर्ष के अवसर पर योजनाओं की झड़ी लगाने की तैयारी में हैं।


अधिकारियों के मुताबिक 20 दिसंबर के बाद नकदी संकट दूर होने के संकेत मिलने लगेंगे और 10 जनवरी के बाद स्थिति में उल्लेखनीय सुधार आएगा क्योंकि तब तक 500 रुपये के पर्याप्त नोट चलन में आ जाएंगे। वित्त मंत्री अरुण जेटली ने भी आज संकेत दिया कि अगले 3 सप्ताह में स्थिति में सुधार आना चाहिए। नोटबंदी के बारे में लोगों में बनी नकारात्मक धारणा को दूर करने के लिए प्रधानमंत्री और उनकी सरकार उन वर्गों के लिए कई योजनाओं की घोषणा कर सकती है जिन्हें नोटबंदी के कारण परेशानी हुई है। इनमें किसान, मध्य वर्ग (खासकर छोटे व्यापारी व उद्यमी) और युवा वर्ग शामिल है। इनमें से कुछ घोषणाएं 2 जनवरी को लखनऊ की जनसभा में हो सकती हैं। इन योजनाओं की रूपरेखा तैयार करने के लिए भाजपा के वरिष्ठ नेताओं, आरएसएस नेतृत्व और सरकार के अहम मंत्रालयों के बीच विचार-विमर्श का दौर जारी है।


लखनऊ में 2 जनवरी को होने वाली मोदी की जनसभा पहले 24 दिसंबर को प्रस्तावित थी। इस दिन उत्तर प्रदेश में भाजपा की परिवर्तन यात्रा का लखनऊ में समापन होना है। लेकिन 31 दिसंबर को समाप्त हो रही नोटबंदी की समयसीमा को देखते हुए इसे आगे बढ़ाया गया है। उत्तर प्रदेश सहित पांच राज्यों में विधानसभा चुनाव फरवरी-मार्च में होने हैं। मध्य वर्ग बजट से करों में राहत की उम्मीद लगाए बैठा है और कई मंत्रियों में सार्वजनिक तौर पर इसकी संभावना जताई है।

वरिष्ठ अधिकारी नोटबंदी के बाद काले धन को सफेद बनाने वालों के खिलाफ कार्रवाई की रणनीति बनाने में जुटे हैं। आय कर विभाग का कहना है कि उसके पास पर्याप्त कर्मचारी नहीं हैं। ऐसे में सरकार यह संभावना तलाश रही है कि बड़ी मछलियों को ही निशाना बनाए और छोटी मछलियों को निकलने दिया जाए ताकि नोटबंदी के कारण हुए नुकसान की भरपाई हो सके। Read more

Crackdown: Now, Axis Bank suspends accounts of some jewellers, bullion dealers

The move is likely to curtail imports by the world's second-biggest gold consumer this month and could weigh on global prices already near their lowest level in ten months.

( Axis Bank branch closed during a raid by Income Tax officials in the Chandni Chowk in New Delhi )

Axis Bank, India's top importer of gold, has suspended the bank accounts of some bullion dealers and jewellers after two of its executives at a branch were arrested over alleged money laundering.

The move is likely to curtail imports by the world's second-biggest gold consumer this month and could weigh on global prices already near their lowest level in ten months.

"We have temporarily suspended transactions in a few current accounts as a part of a larger enhanced due diligence exercise being conducted on transactions post-demonetisation," the bank said in an e-mailed reply to questions from Reuters.

Prime Minister Narendra Modi scrapped 500-rupee and 1,000-rupee banknotes on Nov. 8 in a bid to flush out cash earned through illegal activities, or earned legally but never disclosed to tax authorities.

There have also been reports of people rushing to buy gold by paying as much as a 50 percent premium above official prices using their unaccounted money to skirt the note ban.

Axis did not directly comment on the arrests. Last week the Enforcement Directorate, a government agency that fights financial crime, said it had arrested two Axis bankemployees for allegedly helping launderers to buy goldwith the help of scrapped notes.

The bank said the suspended gold dealers' accounts will be restored over the next few days after an "enhanced due diligence process". (read more)

Related Articles:

• Axis Bank, country's top gold importer, suspends bullion dealers accounts
• Axis Bank denies report of threat to its banking license over alleged bank licence
• RBI denies plans to cancel Axis Bank's licence

Lining up at the ATM? Here's how your cash actually gets there

From the printing press to the ATM, its a journey that starts with calculations at the Reserve Bank of India

Everyone likes money, especially with the Modi government's Demonetisation policy in full swing. But how does the Rs 100 note, which has reasserted its real value, and the new Rs 500 and Rs 2,000 notes reach your nearest automated teller machine (ATM)?

From the printing press to the ATM, its a journey that starts with calculations at the Reserve Bank of India and culminates in the execution of a very complicated logistics plan.

From the printing press to the ATM:

1) Finding our the country's cash needs: The RBI first calculates India's annual cash requirement. According to an Indian Express report, the calculation takes into account the quantity of notes in circulation, those which might have been destroyed, and how many would be needed for replacement. Other factors, the report added, such as projected GDP growth and inflation are also accounted for. The process starts early in the calendar year, before the new fiscal year begins, and RBIinforms the Ministry of Finance about the amount of currency that needs to be printed.

2) Telling the printing presses: India has four printing presses: One in Nashik (Maharashtra), one in Dewas (Madhya Pradesh), another in Mysuru (Karnataka( and the last in Salboni (West Bengal). These presses print out the notes after an order is placed with them and instructions are received regarding denominations and quantity of notes to be printed. The high-security paper used to print the notes comes from the currency paper mills in Mysuru and Hoshangabad.

3) Distributing the notes across the country: Once the notes have been printed, they need to be distributed across 19 regional centres of the RBI. Along with these centres, there are 4,000currency chests which serve areas not covered under these centres and they too need to receive the freshly printed notes. However, as explained by the IE report, even after these notes have reached their destinations, they do not hold any value till they are backed by cash or securities of equal value.Read more

Decoding the big ATM problem: India just doesn't have enough engineers for the job

Decoding the big ATM problem: India just doesn't have enough engineers for the job

Ten days on, the banking sector is yet to recover from the government's Demonetisationmove. There are two main reasons for this. One, there is just not enough new notes being supplied by the Reserve Bank of India (RBI), even after running its printing presses over time. And the second, there are not enough technicians to recaliberate automated teller machines in the countries.

Only once the ATMs are recalibrated and enough Rs 500 notes are printed, the chaos will be under control, say bankers.

Even as top bankers are assuring public that the situation will normalise in a week, bankers behind the counters think otherwsie.

The new 500 notes have not been released in rural areas. Most of the branches just 20-30 kilometers from metros have not seen the new 500 rupee note as the currency chests are currently available only in cities. Even in metros, the stockpile of the new notes is thin.

A public sector bank branch manager in the outskirt of Kolkata told Business Standard that the currency chests are now dispensing soiled, old Rs 100 notes. Several customers withdrawing money from banks confirmed this. Customers who have withdrawn Rs 100 notes are not releasing them for daily transactions. Hoarding has ensured that the central bank is being forced to release old scrapped notes to the general public again.

The lack of technicians is the bigger problem.Read more.

Another set of rules: Govt limits bank exchange from Rs 4,500 to Rs 2,000

It also allowed withdrawal of upto Rs 2.5 lakh from bank accounts for the explicit purpose of weddings

The government, on Thursday, announced another set of changed rules as queues continued to day eight of its demonetisation drive. It reduced the limit of over-the-counter exchange of old notes for new ones to Rs 2,000 per person from Rs 4,500 earlier.

The centre has also given the option to its lower level employees up to Group C to draw an advance of Rs 10,000 from their November salaries.

Besides, it relaxed the weekly withdrawal limits for farmers and Agriculture Produce Market Committee (APMC) traders.

It also allowed withdrawal of up to Rs 2.5 lakh from bank accounts for the explicit purpose of weddings.

“To enable larger number of people to get benefit, with effect from Nov 18 the existing limit of Rs 4,500 will be reduced to Rs 2,000. This will be once per person. The usage of indelible ink continues. The move is to ensure that a larger number of people reach the exchange counters,” Economic Affairs Secretary Shaktikanta Das said at a media briefing.

To questions that this move implied a shortage of cash with the banks, Das said that that was a wrong assumption and that there was enough money in the system.

Central govt employees can get salary advance in cash

Das said that central government employees up to group C, including those of state-owned companies, military, railways and para-military organisations, will be given the option of taking salary advance up to Rs 10,000 in cash, which will be adjusted against their November salaries.

What's in to for farmers?

Given that crop sowing has slowed down at the commencement of Rabi Season due to a cash crunch, the centre will now also allow farmers farmers to draw Rs 25,000 per week against farm loans sanctioned or Kisan credit cards to meet their expenses. Farmers can also withdraw the same amount per week from their own accounts. Read more.

SBI PO recruitment eligibility doubts explained

All those who are preparing for Bank jobs are in a sense of excitement after the latest SBI PO recruitment notification.With the online registration links to apply for 2200 officer vacancies now open, many of you might be trying to decide whether you are eligible or not.

To help you better understand the conditions we have compiled a list of frequently asked doubts that normally comes to your mind.

Eligibility & Qualifications
Q: I am completing 20 years in May.Shall I apply?
A: No.The age limit for applicants is 21 30 yrs as on April 1, 2016.

Those who have not attained 21 years on 01.04.2016 are not eligible for this SBI PO http://recruitment.In simpler words your date of birth should be within Apr 2, 1986 & Apr 1, 1995

Q: I have scored only 50% in degree.Can I register?
A: There is no mimimum percentage required.If you have passed in degree, it is enough for you to submit http://application.So you are eligible to apply even with 50% marks. Read more.

Panama Papers: Why probe by Indian agencies may yield nothing

Black money is back in focus with the expose by the International Consortium of Investigative Journalists that shows  hundreds of Indians were shareholders and/or directors in companies incorporated in distant islands by Panama-based firm Mossack Fonseca in a bid to avoid tax.

Soon after the revelation, the government declared that action will be taken against said accounts held abroad by Indians and constituted a multi-agency group to continuously monitor information. Panama papers have named 500 people, including film actors and industrialists who have allegedly stashed money in offshore entities.

The assurances given by the BJP-led government to bring back black money in India has largely being ineffective. Possible reasons would be polices that have been established to curb accrual of black money have not been enforced by the agencies or existing legal and administrative framework which has its own limitations.

Is it so easy to float a company abroad? Would they able to get evidences against the said entities named in Panama Papers? What are the limitations, Business Standard explores.

Is it so easy to float a company abroad?

Some countries are following the disclosure norms reluctantly, while in some jurisdictions, the KYC norms are more liberal than others. According to the Reserve Bank of India (RBI) norms, liberalized remittances scheme (LRS) allowed individuals even minors to remit amount up to $250,000 ( Rs 1.65 crore as on date) each year abroad under self declaration. This is for studies, medical treatment, buying property overseas or holding shares in an overseas company or a combination of both.

Will they get evidences against entities named in Panama papers?

Getting information from other countries is a cumbersome task. There are limited options before Indian authorities which includes Letter Rogatory (LR), a formal request from a court to a foreign court for some type of judicial assistance. The most common remedies sought by LR are service of process and taking of evidence.Read More.

Panama Papers: From Amitabh Bachchan to Adani's brother, names of 500 Indians leaked

Bollywood mega-star Amitabh Bachchan's (pictured) name has been mentioned in the leaked files

What do Bollywood superstars Amitabh Bachchan and Aishwarya Rai Bachchan, DLF owner K P Singh and Gautam Adani’s elder brother Vinod Adani have in common?

According to a report in The Indian Express on Monday, these names, among 500 others, figure on a Panama law firm's list of Indians who have setup offshore companies in tax havens through the firm's services.

A huge data leak at Panamanian firm Mossack Fonsecahas revealed that it hid billions of dollars in assets of global politicians, sports stars and entertainers.

The files, called the "Panama Papers" and comprising over 11 million documents from the firm, have revealed names which will shock many.

The problems for Mossack Fonseca, a hitherto unheard of name for the vast majority of Indians and people the world over, began when 2.6 terabyte worth of its confidential data was leak to the International Consortium of Investigative Journalists (ICIJ).

According to the ICIJ, the consortium, together with the German newspaperSuddeutsche Zeitungand more than 100 other media partners, conducted the investigation into the papers over a period of a year.

The conclusion: Information on more than 214,000 offshore companies connected to people in more than 200 countries and territories unearthed.

But what exactly does being an Indian on the list entail?

The Indian Express, a partner in the investigation called "Project Prometheus", explains: "Some of the Indians floated offshore entities at a time when laws did not allow them to do so; some have taken a technically convenient view that companies acquired is not the same as companies incorporated; some have bunched their annual quota of remittances to subscribe to shares in an offshore entity acquired at an earlier date. Still, some others have received income earned abroad and deposited it in the entity to avoid tax. Some have opened a bank account to keep payoffs in government contracts, or held “proceeds of crime” or property bought with money made illegally in Trusts/ Foundations."

The report suggests that many of the Indians, featured in this Panama Leaksand who set up these offshore entities prior to 2013, are likely in violation of the Reserve Bank of India's Liberalised Remittance Scheme — introduced in February 2004.Read More.