Union Bank of India Invites Applications For Credit Officers. Apply Now

Candidates willing to take up the post can apply for the same till October 21, 2017 (Saturday).

Union Bank of India (herein after called the Bank) is inviting applications for the posts of Credit Officers. Candidates willing to take up the post can apply for the same till October 21, 2017 (Saturday). The number of vacancy is 200 for SC (49), ST (24), OBC (65) and UR (62). The qualified candidates would be paid on the pay scale of 31,705 - 45,950. In addition, Special Allowance, Dearness Allowance and other allowances will be payable as per prevailing rules and regulations in the Bank. Further, the officer will also be eligible for amenities like residential quarters/lease rent in lieu of quarters, LFC, reimbursement of medical/hospitalization expenses and other perquisites as per the policy of the Bank.

Exam Centre: The Online Examination, if conducted, may be tentatively held on 25.11.2017 at the following centers: (a) Bengaluru (b) Delhi (c) Kolkata (d) Lucknow (e) Mumbai. However, the Bank reserves its right to decide the examination centers and dates at its sole discretion. The full address of the Venue and the Date will be advised in the Examination / Group Discussion Call Letters, which will be issued in case the Bank decides to hold the Online Examination / Group Discussion. In case the Online Examination / Group Discussion is held, the call letters can be downloaded from the Bank’s website 'Union Bank of India' under "Careers" link.

Eligibility Parameters:

Age: Minimum 23 years and Maximum 32 years

Qualification: Bachelor’s degree in any discipline with minimum 60% aggregate marks from a University/Institution/Board recognized by Govt. of India/approved by Govt. Regulatory bodies.

Post Qualification Work Experience: Post Qualification Work Experience in processing of credit proposals in officer cadre with any Scheduled Commercial Bank for a minimum period of two years immediately preceding the cut-off date of application as per this Notification is mandatory.

How to Apply:

HOW TO APPLY: The candidates can apply only online from 04.10.2017 to 21.10.2017 (both days inclusive) and no other mode of application will be accepted.(more)

Xiaomi Redmi 5A would be a minor upgrade over Redmi 4A: Report

The 5A is speculated to use Qualcomm Snapdragon 427 SoC coupled with 2/3 GB RAM and 16/32 GB storage. The phone would run Android 7.1.2 Nougat with Xiaomi's proprietary MIUI 9 theme on the top

Xiaomi is gearing up to bring the next iteration of its entry-level Redmi smartphone, dubbed ‘Xiaomi Redmi 5A’. The smartphone is expected to come with updated specifications and design over the Redmi 4A, which is currently the latest budget-friendly Redmi device from Xiaomi's stable.

Recently, the specifications and image renders surfaced on Twitter leaked by a technology insider portal Slash Leaks.

According to the speculated specifications and features, the Redmi 5A is expected to sport a metallic build similar to the Redmi 4, and a 5-inch HD (1280x720) screen with three capacitive buttons below it.

The Redmi 5A is speculated to use Qualcomm Snapdragon 427 SoC coupled with 2/3 GB RAM and 16/32 GB storage. The phone would run Android 7.1.2 Nougat with Xiaomi’s proprietary MIUI 9 theme on the top.

In terms of camera, the leak suggests that the upcoming budget smartphone would use a 13 megapixel rear camera and a 5-MP selfie camera.

Md Siraj asks father to stop driving autos after bagging Rs 2.6 cr IPL deal

He also wants to buy a house for his family

IPL 2017 : The Indian Premier League (IPL) 2017 auction spread smiles in a Hyderabad neighbourhood. There was a good reason too. Mohammed Siraj, the younger son of auto driver Mohammed Ghaus was picked up by Sunrisers Hyderabad for a staggering Rs 2.6 crore.

As reporters made a beeline outside the cricketer's modest rented family house, he explained how he plans to use his money now."My father drove auto all these years but never let financial pressure of the family affect me or my elder brother. A bowling spikes costs a lot and he would just get the best for me. I want to buy a house for them now in a good locality," Siraj told The Quint.

While Siraj wants his father to stop driving autos, his father wishes otherwise. "I will drive the auto as long as I have the strength. Why should I depend on sons?" Ghaus was quoted as saying by Mumbai Mirror.

Interestingly, Siraj was often admonished by his mother Shabana Begum who worked as a house maid for showing lack of interest in studies. He discontinued studying while in intermediate, whereas, his brother went ahead to become an IT professional.

"He brought many mementos and sometimes cash prizes as well. However, I never knew he would become so big. It's all God's blessings," the proud mother told Mumbai Mirror after the auction.

Although his family did not keep a track on his career properly, Siraj slowly earned the reputation of a pacer in Hyderabad cricket circle. Read more

Sheena Bora case: Indrani, Peter Mukerjea charged with murder, conspiracy

Latest News : A Special Central Bureau of Investigation (CBI) court on Tuesday charged Indrani Mukerjea, her husband Peter Mukerjea and her ex-husband Sanjeev Khanna with murder and criminal conspiracy in New Delhi. Trial in Special CBI Court will begin from February 1, wherein, the convicts will be sentenced, according to reports.

The CBI argued that Indrani killed her daughter Sheena over property dispute, with the help of ex-husband Sanjeev Khanna and her driver Shyamvar Rai. The former Star India CEO and media baron Peter Mukherjea is also an accused in the murder as he apparently knew the plot to kill Sheena but kept silent.

Earlier, Peter Mukerjea's lawyer had accused the CBI of pursuing an agenda against Peter to malign his image.

Two charge sheets have been filed in the case so far. According to the first charge sheet filed on 19 November 2015, the CBI had named Indrani, Khanna, and Rai as accused in the case. The trio was arrested in August last year. The second charge sheet was filed on 16 February 2016 against Peter for his alleged role in the murder plot, who was arrested on 19 November, 2015.

Sheena was allegedly strangled to death by her mother Indrani with the help of her former husband Sanjeev Khanna. She was killed for entering into a relationship with Peter's son from an earlier marriage. Read more.

RBI raises ATM withdrawal limit to Rs 10,000 a day

Up to Rs 1 lakh can be withdrawn per week from current accounts

Further relaxing the rules for cash withdrawal from automated teller machines (ATMs), the Reserve Bank on Monday raised the cap from Rs 4,500 a day to Rs 10,000 for each card, but within the existing weekly limit of Rs 24,000 per week, with immediate effect.

Besides, current account holders can now withdraw up to Rs 1 lakh per week. Earlier, they were allowed to withdraw only up to Rs 50,000 in cash in a week. This facility has been extended to overdraft and cash credit accounts as well.

Already the cash availability has improved vastly in cash vending machines as more new notes are getting released in the system, but the weekly limit persists. The enhanced withdrawal limit, will help banks to bring down the transaction cost, which has now been waived off by the central bank till March.

The RBI had imposed these limits in November after the government announced a ban on all high-value currency notes, and said it would replace them with new notes.

The withdrawal limits are unlikely to be removed completely until the RBI has supplied the economy with sufficient amount of new notes, analysts said.

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Achche din only when Congress returns to power in 2019: Rahul

PM mocked MGNREGA. He should explain why demand for work under MGNREGA is up now asked Rahul Gandhi

Breaking News : Congress vice president, Rahul Gandhi on Wednesday launched a scathing attack on Prime Minister Narendra Modi saying "achche din will come only when Congress returns to power in 2019". He also reflected on the sufferings of the common people in the wake of demonetisation.

"The prime minister needs to spend some time with the poor and farmers of the country and ask them why suddenly people are running to villages for jobs?" Gandhi said speaking at the Jan Vedna Sammelan in the national capital.

"The prime minister mocked MGNREGA and said labour only digs ditches. He should tell why demand for MGNREGA work is up now," he added.

The Gandhi scion underlined that achche din will only return when Congress party comes to power in 2019.

"Today they (BJP) have weakened every institution. For the first time time in history the prime minister of India is being ridiculed. Every economist is calling it (demonetisation) a bad move," Gandhi said.

He asserted that the prime minister did not even understand the "concept of demonetisation" and went ahead with the move "without asking anybody".

"Today I read in newspaper that PM said he will transform India. But PM needs to ask himself why suddenly auto sales have fallen," Gandhi said.

Taking another dig at Modi, Gandhi said Yoga guru Ramdev has probably advised PM Modi on demonetisation.

"The prime minister knows he can not hide behind schemes like Skill India and Yoga. So, his primary economic advisor Ramdev had probably advised him on note ban," the Congress vice-president noted. (more)

In Lucknow, Modi echoes Indira Gandhi but doesn't announce any gains

Modi said his opponents have become "politically irrelevant'

Breaking News : Prime Minister. Narendra Modi today addressed a massive public rally in Lucknow, to launch his campaign for Uttar Pradesh assembly polls. He didn’t announce any new ‘gains’ after the 50-days of note ban ‘pain’, and only cursorily referred to the promises he made on the New Year’s Eve.

Modi said his opponents have become “politically irrelevant”, and even echoed former prime minister Indira Gandhi. She had famously said in her 1971 election campaign, where her party’s slogan was “Garibi Hatao’, remove poverty: “Wah kahate hain Indira hatao, hum kahate hain garibi hatao’’ (my opponents call for Indira’s removal, I want poverty to be removed).

In Lucknow, Modi said all opposition parties have joined forces against him. He said that the Samajwadi Party and Bahujan Samaj Party never see eye to eye but have in once voice criticized the note ban decision. “Wah kahate hain Modi hatao, main kahata hoon kaladhan hatao, bhrashtachar hatao (they say remove Modi, I say end black money, end corruption),” the PM said.
Modi impressed upon party workers and the public how the large gathering at the rally was proof that the BJP had already won the assembly polls. It was reminiscent of the large public rallies that Modi had addressed all across Bihar in the assembly polls in the state in October-November, where he would present the large crowds that turned up for his public meetings as a fait accompli for the elections. However, the coming together of Lalu Prasad Yadav’s Rashtriya Janata Dal, Nitish Kumar’s Janata Dal United and Congress ensured the BJP and its allies were decimated in the polls.(more)

Note ban: PM Modi silent on gains, hints pain may last little longer

Prime Minister Narendra Modi addressed a well-attended public rally in Kanpur, the precursor to what many expect to be his game changing rally in Lucknow on January 2. The Lucknow public rally will come at the end of his promised 50 days of “pain” of note ban.

He had earlier promised that days of pain would lead to “gain” for the public. However, the PM on Monday seemed to be suggesting that the pain might last a little bit longer, and he didn’t for once utter the word “gain” in nearly an hour long speech, and exhorted people to be willing to suffer inconveniences for a few more days for a brighter future of the country.

The PM railed against the Opposition for not letting Parliament function, for obstructing his fight against black money and corruption and for lying and trying to mislead people. Modi said India, post-note ban, was divided into two halves – a small minority of politicians trying to protect black money, corruption and dishonesty, and the other half comprising the hardworking and honest poor and middle classes of the country who are fighting this battle to reclaim their right.

The PM said he congratulated the Election Commission for having demanded from political parties to come clean on their donations. He said the Bharatiya Janata Party (BJP) welcomes the move, and he had requested at the ‘all party meeting’ before the winter session of Parliament to have a discussion on making political donations transparent.

Taking a dig at the Congress party’s lack of commitment to stopping black money, the PM said that party had a treasurer Sitaram Kesri, about whom Congress leaders themselves said how he didn’t maintain any accounts of donations received by the party. “Na khaata na bahi, jo Kesri kahe wahi sahi,” the PM said, adding this is how the Congress conducts its politics.(more)

• Modi has given 60% of India's wealth to 1% of the population: Rahul on note ban
• New rules: You can deposit more than Rs 5,000 in bank accounts only once till 30 Dec

Arnab Goswami's new venture is called 'Republic' and it's launching on 26 January

After a short break, noted television journalist and talk show host Arnab Goswami again turned the king of social media trends on Thursday, after he announced the launch of his 'new venture'. Reports suggest he has set up a news channel called 'Republic', which will go live before the Uttar Pradesh Assembly elections. Speaking at the 10th anniversary of IEEMA ( Indian Electronic Equipment Manufacturer's Association), the apex body for the power equipment industry, Swamy said Republic will launch on 26 January, sources told Business Standard,

He also said that Republic will be a global media venture, 'parellel to the BBC and CNN."

On November 1, Goswami had resigned as the editor-in-chief of Times Now, and announced his plans to start a venture of his own. Rahul Shivshankar has since taken over as editor-in-chief of Times Now. Reports also suggest that Goswami's core team members also resigned from Times Now days after his resignation.

The News Minute quoted Goswami as saying: “My venture is called ‘Republic’; I seek the support of the people of India.” Quoting sources, The News Minute also reported that the venture would primarily be based in Mumbai and that a media owner based out of Bengaluru, a major TV distribution network and an influential advertising and media buying group, were part of the bouquet of investors backing Goswami. Contrary to speculation, all investors in 'Republic' are reported to be Indians. Read more

Making digital payments can land you a prize of Rs 1 crore. Govt announces national lucky draw

In a move to promote digital payments, the government of India has announced slew measures.

NITI Aayog CEO, Amitab Kant announced the #LuckyGrahakYojna.

The following points are the highlights of the scheme.

Digital payments through RuRay cards, UPI, AEPS and USSD between Rs 50-3000 will be eligible for awards. There will be a different prize for consumers and merchants.

Under the Lucky Grahak Yojna, daily 15,000 winners will eligible for a prize worth Rs 1,000 for the next 100 days starting December 25. A weekly award for around 7,000 consumers eligible for a maximum prize of Rs 1 lakh was announced.

NPCI will announce 15,000 winners of 1000 rupees each for next 100 days, starting from Christmas.

Under the Digi-Dhan Vyaapari Yojna, every week, more than 7,000 merchants will be eligible for Rs 50,000 prize.

Mega awards, in both the categories will be declared on the occasion on the birth anniversary of Dr Bhimrao Ambedkar. Under this Mega Award, consumers can win prize worth Rs 1 rore, Rs 50 lakh and Rs 25 lakh.

While merchants can win prize worth Rs 50 lakh, Rs 25 lakh, and Rs 5 lakh.

"Lucky Grahak Yojana and Digi Dhan Vyapari Yojana is Christmas gifts for the nation", said Amitab Kant. Read more

Demonetisation: Income disclosure schemes 20 years apart yield roughly the same

Adjusted for inflation, the earlier scheme would have collected Rs 25,000 crore, according to Soumya Kanti Ghosh

Union Finance Minister Arun Jaitley’s Income Declaration Scheme (IDS) 2016 will collect a little over Rs 30,000 crore in taxes, whereas former finance minister P Chidambaram’s Voluntary Disclosure of Income Scheme (VDIS) in 1997-98 garnered around Rs 10,000 crore in taxes.

Adjusted for inflation, the earlier scheme would have collected Rs 25,000 crore, according to Soumya Kanti Ghosh, chief economist, State Bank of India. This works out to an inflation rate of five per cent a year for the last 19 years.

The tax rate, including cess and penalty, in this year’s income disclosure scheme was higher at 45 per cent against 30 per cent for individuals and 35 per cent for companies in 1997-98.

Assuming mostly individuals availed the VDIS in 1997-98, the scheme would have garnered Rs 37,500 crore for the exchequer in today’s rupees if the tax rate were 45 per cent.

The 1997-98 scheme saw disclosures worth Rs 33,679, which in today’s rupee terms work out to about Rs 84,000 crore. About 475,000 individuals and companies had disclosed their unaccounted wealth and income in the scheme.

In 2016, the government received declarations from 71,726 individuals worth Rs 67,382 crore. The tax under IDS 2016 is to be paid in three installments till September 30, 2017.

The tax department has rejected two disclosures in this year’s scheme: Rs 13,500 crore by a businessman in Ahmedabad and Rs 2 lakh crore by a family in Mumbai.

Jaitley had earlier refused to compare tax collections under the two schemes, stating many assessees had paid tax in advance during the 1997-98 scheme because the scheme’s tax rates were the same as normal rates.

The government has come out with another income declaration scheme, the Pradhan Mantri Garib Kalyan Yojana, following demonetisation, allowing declarers to pay a 50 per cent tax on undisclosed income and depositing a quarter of the amount for four years.(more)

Jewellers shut shops for 12th straight day after income-tax surveys

Gold and jewellery establishments in the national capital remained closed for the 12th day today after the Income Tax Department conducted surveys following reports of alleged profiteering and tax evasion by traders and other operators in reported conversion of demonetised notes.

The survey operations were carried out on November 10 in at least four locations in Delhi-NCR region, including Dariba Kalan, Chandni Chowk and Karol Bagh.

The government on November 8 announced the demonetisation of 500 and 1,000 rupee notes to flush out black money.

Most of the jewellery houses have been closed since November 11 in the national capital.(more)

After daughter's Rs 500-cr wedding, I-T raid at Reddy's mining company

Since hosting his daughter's lavish wedding, in which he apparently splurged Rs 500 crore, Bellary mining baron Gali Janardhana Reddy has been on the income-tax radar. The I-T department on Monday raided Reddy's Obulapuram mining company in Bellary.

Reddy had hosted the opulent wedding at the Bangalore Palace grounds on November 16.

Earlier, Reddy, then state tourism minister in the B S Yeddyurappa-led Karnataka government, had been arrested in 2011 on the charges of illegally mining iron ore and jailed for over three years. He is said to have made Rs 5,000 crore through iron ore mining in Bellary. The criminal charges against him relate to the Andhra Pradesh branch of the multi-billion dollar mining empire that he runs with family and two brothers.

The five-day wedding extravaganza that he hosted earlier this month included ceremonies held against the backdrop of lavish settings. The ostentatious wedding had stirred up a huge row over its timing, when people across the country were reeling under cash crunch after the central government's move to demonetise high value currency notes.

Palace grounds, which plays host to grand weddings, presented almost a surreal picture as Reddy's daughter Bramhani entered into a wedlock with Rajeev Reddy, the son of a leading businessman from Andhra Pradesh, with rituals conducted by a battery of priests from the famous Tirumala temple.Read more

Has the US Presidential election cast a shadow on Black Friday 2016?

As US President-elect Donald Trump gears up to take office from the 44th and current President of the United States, pundits are having a field day trying to estimate the impact that will likely have on the US citizens. Among the immediate concerns is the impact the election result will have on the holiday spending, especially Black Friday on November 25, 2016.

While some are ambivalent about it, most media reports have indicated that Black Friday might not see as spectacular spending as expected. According to a news article, this year, Veterans Day - the first peak of several peak spending days during the holiday season – failed to kick off holiday spending. It was reported that the sales were $380 million lower than expected, at $1.16 billion. Quoting Adobe Digital Insights, the report indicated that the sales registered a measly 1% growth over a year earlier, against the predicted growth of 16%.

Another report quoting data from Adobe says that between November 1 and November 14, retailers have lost over $800 million in revenue from online sales. The sharpest drop occurred after the election, with total sales growth slowing to only 1.3%, against Adobe's prediction for growth of 7.8%.

What’s Black Friday?

The day following Thanksgiving Day in the United States, Black Friday marks the beginning of the Christmas shopping season. Since 1932, on the fourth Thursday of November, most major retailers in the US open very early – as early as overnight hours - and offer promotional sales.

Touted as the busiest shopping day of the year since 2005, the term Black Friday was coined in 1961. It represented the point in the year when retailers begin to turn a profit, thus going from being "in the red" to being "in the black".

But Black Friday as the kickoff to the holiday spending season has not been a real trend in retail for many years now. Many retailers have now spread out their promotions over full months of November and December, rather than concentrate them on a single shopping day or weekend.

Trumping over Black Friday. Read more.

You can soon shop on Instagram

Each post by a brand has a picture of the product and also displays the price of the item on a single tap

Instagram is now testing shopping products through its posts. Just like instant articles, where one can read news articles without leaving Facebook, users can buy products without leaving Instagram.

Each post by a brand has a picture of the product and also displays the price of the item on a single tap. The 'Tap to view' option which upon clicking shows you a bigger image of the product with description about it. Instagram showcases up to five products and can be purchased from the website by tapping the shop now icon.

Instagram said a survey found that vast majority of purchases take a day or longer, with only 21% of purchases made within a day. This means users take their time, compare it with other products and then take a call on the item. Keeping this in mind, Instagram plans to provide an option to save the post and revisit again.

In the initial phase, the new features will be available to a group of people on iOS devices within the US. To test the functionality of the new feature Instagram has partnered with 20 US-based retail brands including Kate Spade, JackThreads and Warby Parker.

Kate Spade from Instagram for Business on Vimeo.

If everything works for Instagram, with more than 500 million monthly active users, it can grab a significant digital ad revenue from big brands. Facebook's ad revenue stood at $5,201 in Q1. Read more.

 

Over 5.7 million watched a Facebook live link, waiting for Samsung Note 7 to explode

Ever since Samsung Galaxy Note 7 burst into flames, the company has been struggling to restore confidence and trust in the firms products despite the unreleting attack from users who bought t'he smartphone. The blitzkrieg is even more severe on social media. On Monday, Dose, a viral content website, decided to test whether Note 7 catches fire or not by charging it for four hours and broadcasting it live on its Facebook page. Although many waited eagerly to see the premium phone explode, it did not burst into flames. The video has garnered more than 58k shares and 5.7 million views till now.

Watch this Video.

Problems started for Samsung when reports about Galaxy Note 7 catching fire trickled in. The company tried to address the issue by replacing it with new phones but with similar complaints about the new phones emerging, the company said it was stopping the production and killing the product.

According to a report in Reuters, Samsung India issued an apology to customers in India who pre-ordered the Galaxy Note7. To make it up to them, the company is now offering them an "exclusive"Samsung Galaxy S7 or Galaxy S7 edge, with a Samsung Gear VR and a Samsung Level U stereo wireless headset at no additional cost.

Research firm CMR had said Samsung's smartphone shipment to India may fall short by 4 million units in 2016, hit by global recall and halt in production of its flagship Note 7 smartphone. This translates to Rs 6,457 crore in terms of revenues for the company. According to projected growth,Samsung was expected to touch revenues of Rs 45,446 crore in CY 2016, an increase of 46 per cent compared to previous calendar year.Read more.