Features & Advantages of Online Banking...Virtual Money

Gone are the days where it required the customer to go to a bank to make a financial transaction. The evolution of Online Banking has brought about a seeping change to the whole financial industry. Customers can now bank online from their homes. Make Transfers, Check your Account Balances, View your statements or order your statements online, Make Bill payments or Order your check books, all online from your home. All it requires is a computer and an internet connection. And if you are going to think it’s going to cost you anything, your absolutely mistaken, all the above services are performed absolutely free of cost.

Citibank which is one of the leading financial institutions has only 4 locations in the whole of England. All the four are in London, however the number of customers Citibank has in London is enormous. How is it possible? Online banking makes it possible. It’s cheaper, faster, efficient and more reliable.

Is it Secure: A lot of people are apprehensive of ordering products and utilizing various online services apart from banking to make a purchase or pay for a service? Why? Because websites are hacked very easily today and your credit card number or debit card number can be easily accessed. However banks, when they offer Online Services, make sure that their website is secure and safe for customers to conduct transactions online. A bank today virtually takes responsibility as it’s dealing with the most wanted product, MONEY. It takes all the necessary protection and precaution to see to that their websites are secure.

So a customer can forget about his card numbers being hacked as banks assure their customers that their money is safe. If you're like most people, you've heard a lot about online banking but probably haven't tried it yourself. You still pay your bills by mail and deposit checks at your bank branch, much the way your parents did. You might shop online for a loan, life insurance or a home mortgage, but when it comes time to commit, you feel more comfortable working with your banker or an agent you know and trust.

Online banking isn't out to change your money habits. Instead, it uses today's computer technology to give you the option of bypassing the time-consuming, paper-based aspects of traditional banking in order to manage your finances more quickly and efficiently.

Origin of online banking

The advent and growing use of the Internet and the popularity of personal computers and mobile phone users, presented both an opportunity and a challenge for the banking industry. Customers today want Email and SMS alerts of all their financial transactions and latest updates.
For years, financial institutions have used powerful and efficient computer networks to automate millions of transactions everyday. Today, paper records are most often used only at the point of sale as a customers receipt. Now that its customers are connected to the Internet via personal computers and mobile phones, banks envision similar economic advantages by adapting those same internal electronic processes to home use.

Today banks view online banking as a very powerful and a value added tool to attract and retain new customers, while helping to eliminate costly paper handling and teller interactions in an increasingly competitive banking environment. Paper records are also difficult to maintain and is destroyable.

Virtual banks

If you don't mind foregoing the teller station at the banks and kind bank officers, a "virtual" or e-bank may save you very real money. Virtual banks are banks without bricks- it means that they do not exist physically. From the customer's perspective, they exist entirely on the Internet, where they offer pretty much the same range of services and adhere to the same federal regulations as your physical bank does.

Virtual banks pass the money what they save on overhead like buildings and tellers along to you in the form of higher yields, lower fees and more generous account thresholds.
Brick-to-click banks

Almost all large national banks, many regional banks and even co-operative banks, thrift institutions, credit unions and other depository institutions offer some form of online banking, otherwise known as PC banking, home banking, electronic banking or Internet banking. Those that do are referred to as "brick-to-click" banks, both to distinguish them from brick-and-mortar banks that have yet to offer online banking, as well as from online or virtual banks that have no physical branches or teller stations whatsoever.

Most of the large banks now offer fully secure, completely functional online banking for free or for a very small fee. Citibank, one of the largest depository institutions encourage their customers to go online and bank with them. Smaller banks offer limited access or functionality, for instance, you may be able to view your account balance and statements but not initiate transactions online. As more banks succeed online and more customers use their sites, completely functional online banking definitely will emerge as commonplace as automated teller machines.

The challenge for the banking industry is that it has been to design this new service channel in such a way that its customers will readily learn to use and trust it. After all these banks have spent generations earning our trust; they aren't about to risk that on a Web site that is frustrating, confusing or less than secure.

Advantages of online banking

- Convenience: Unlike your normal physical bank, online banking sites never close. They're available 24 hours a day, seven days a week, 365 days a year and they're only just a mouse click away
- Ubiquity: If you are out of station or even out of the country on a tour or on an official trip, when you’re facing a money problem, all you have to do is log on to the internet and transfer funds from one account to another and take care of your needs and business 24 /7
- Transaction speed: Online banking initiates speedy transactions and they are very cost effective and is generally quicker than the transactions conducted at the ATM’s or at the bank
- Efficiency: Feel free to access, manage and control all your bank accounts, including Individual Retirement Accounts, CDs, even securities, from one secure site
- Effectiveness: Manage your money, investment, bank accounts without even going to the bank. Get email and wireless alerts on your transactions. Get your statements online. Make your bill payments online and transfer funds, all for free

Online banking is banking at your convenience. All banks today are encouraging customers to bank online rather than going to the bank and making transactions. This helps the customers to save money and time. The transactions conducted online are absolutely free and within the customers control too. All you need to do is just log on and make life easier for yourself. Transactions like bill payments, viewing of statements, requisition of cheque books and directing the bank to make auto debits are increasing features of online banking. When you have the opportunity to bank from home, why do you want to go to a bank.

Prepare a Good Resume to Apply In Banks

Resume or Curriculum Vitae is the face of a candidate appearing for any job.This piece of paper has so much value that it can either push you to the top or drag you down.So,it is better to get professional advice in preparing resume for your first job.Here are some tips for drafting a good looking resume.

# Print the resume in a standard paper format.Employers often complain about the quality and neatness of the paper in which the resume is printed.The most commonly used & the best paper format is A4.

# Don't write descriptive notes and history of the job in resume.Make it precise & easy to understand as people get bored on reading lengthy resumes.

# Emphasize on the projects that you were a part of mentioning its strengths and how you helped the team.Add other skills that may be relevant for the job.

# Never show hate about your previous company in resume like - ”Although i helped the company in fetching the project,the manager was partial with me in not rewarding me” .Such words, only creates bad impression about you.

# Trying to create sympathy mentioning family problems,personal economic issues,health problems can never fetch a job call.Incase you quit the previous job for health reasons,discuss it during the interview.

# Avoid spelling mistakes & grammatical mistakes by using simple sentences.Employers term spelling mistakes as character of a careless person.

# Although bold,italics words can be used in resume,minimal usage is advised.Also avoid decorating the resume with different fonts, colors, sizes.

Finally,create a resume which gives a rough idea of your character and performance to the employer,be it for bank exams leading to bank jobs or for other jobs.

Bank Exam - Part 2

As said earlier, here is the Part 2 of Interview experiences shared by members on our Orkut community describing the questions asked.

sree describes her questions -
* Define Indian economy & how it emerges from recession
* What is a bank & who operates it
* What is SLR,PLR,CRR, Bank rate etc.

* A situation was given & was asked how would i react to it
* Authors of any novels
* They also questions from UG & PG degree & why i chose banking
* News in today's paper
* Chairman of SBI
* Why would u like to join SBI
* What is nationalization act?
* 3-4 questions were asked from degree subjects.

* Why studied B.E and choosing bank jobs
* Some questions about my hobbies.
* Why airlines were stopped in European countries recently?
* Who won the IPL trophy & who is the chairman of IPL

vιριη shares his friend`s experience ,

* What are the financial institution in India
* India`s finance minister
* Asked about RBI & their services
* How to reduce inflation
* What new services are provided by RBI
* Why choose banking after engineering
* Some questions about hobbies & personal

i nevr thk futur recollects that, the panel consisted of 4 members & the questions -
* Some questions from resume (about me, family background, hobbies etc)

* Since I'm an IT graduate ,some questions on computers

* What is networking & how many types of topologies
* Asked about conditions of women in our society

Concluded: This would be end of the two part series that discussed about SBI Interview.These shares will also help candidates preparing for upcoming SBI jobs

The team at www.bankexamsindia.com thanks all the candidates who have taken time to share their interview experiences & questions on our website & through our Orkut community.

Apply For Bank Clerk Exam

We receive numerous mails asking for Tips on preparing for clerical exams, as part of the bank recruitment 2010.So,we decided to brief to all aspiring candidates, about the pattern of clerk exams conducted by most banks in India,

Eligibility : To become eligible for applying to clerical post,

(a) Degree from a recognized University in any discipline or its equivalent. OR
(b) Pass with 50% marks in aggregate in Higher Secondary Exam of 10+2+3 pattern/ XI standard of 11+3 pattern/ Pre-degree or intermediate or any equivalent exam OR
(c) Pass with minimum 60% marks in aggregate in Matriculation/Senior School
certificate (Old pattern)/ or equivalent.

These eligibility conditions may change according to the requirements of each bank

Written test : The written exam for clerical position will have the following sections,

1) Test of reasoning 2)Numerical Ability 3) Clerical aptitude 4)Test of English

* The Duration for written test would normally be 2 Hrs or 2.5 Hrs.So practice with model question papers /previous year papers.It helps you adjust time & pick up speed.

* Focus on basics & concepts of mathematics for numerical ability as the standard of question will be of secondary level.Read the reasoning/aptitude questions completely & understand it before choosing the correct answer.

* Before answering the questions,plan on the sections that have to be answered first.Start to answer from the paper which you are confident of & move to questions that consume time.

Incase you are looking for tips on each section ,read How to prepare for english paper & Bank exam Question paper blueprint

Interview process : We have already posted extensive information on Interview in the following topics – Tips to prepare for Interview , Common questions in Interview &

How to behave in an Interview

Minimize Your Bank Exams Negative Marks

Every candidate taking up bank exams for the first time are more concerned about Negative marks.Negative marks in bank exams are awarded to each and every wrong answer ,which ranges from 0.25 - 0.50 marks.If you still have no clue on how to steer clear without negative marks,proceed reading to know about the do`s & don'ts.

What you must do to minimize negative marks ?

# Analyze the Question paper in advance by referring previous question papers.This helps to get a clear picture of the type of questions in each section.For this, previous question papers or question paper blueprints would help in knowing the pattern

# Practice is the only key.Since most bank exams expect you to complete 120-150 questions in 3 hours,its necessary for the candidates to figure out short-cut methods,easy problem solving skills so that precious time could be saved.

# Try attending mock tests using sample bank exam question papers,which will help to decide on the amount of time needed to answer each question.Time Management is the most needed skill to answer all the questions in time.

# Prepare short notes of your preparations,formulas,important theorems etc.,so you can refer to it during the last minute preparation rather than reading the books.

# Be cool & calm while writing the exam.Getting tensed on an unknown question or hurrying to complete the exam soon, contribute to negative marks largely.

# Answer the questions that you are confident of being correct ,rather than getting stuck with a question & wasting time trying to answer it.

# Do not guess until you are very sure of the answer.Guessing can drastically reduce the marks without your knowing.

# Do not erase or overwrite frequently.Since the OMR sheets are read by computers,any improper erasing marks will be calculated as wrong answers,leading to negative marks.

In an attempt to avoid negative marks,don't skip all the unknown questions.Take calculated risks & think of the nearest answer,since there is no success without risks

Learn English Test for Bank Exams

While looking at the Bank Exam Question paper Model,most bank exams have a section called ‘Test of English Language’.This paper is often considered to be very easy but the questions are much tricky,making all answers seem to be correct.It is always better to learn the basics of the language before taking up a test in it.

There are numbers of ways to prepare before taking up an English exam. The points that we should remember while taking up an English test are -

1) Learn the basics and proper usage of grammar

2) Should avoid spelling mistakes

3) Make sure that the sentence formation are clear and concise

Grammatical errors are the most important factor that one should always concentrate while preparing for an English test. Any small mistake in the grammar of an essay or an article can change the meaning of the sentence entirely. So it is important for anyone to spend some time in learning the usage of grammar. Most of the grammatical errors made are by the people who have high rate of speech.So think slowly & speak to yourself before writing on paper

Spelling mistakes are made by any common person,however it does have a great impact in the end result.You need to be sure that whatever you write in an essay has got no spelling mistakes. If your vocabulary is good you can use different words that no one uses commonly and it helps you to stand out from rest of the crowd.

But it often advisable to use words which are known to you to avoid mistakes.

Sentence formation is an important factor,while writing the descriptive test in Bank exams , as all your thoughts and ideas can only be put forward easily if you’ve got the ability to form or to rephrase the sentence the right way. Sentence formation can only be improved if someone is ready to learn the way of speaking good English.

Prepare Common Interview Questions

How to prepare for Interview ? Perhaps,this is a regular question asked by candidates selected in written tests conducted by banks & government organizations. Interview sessions are considered tough by many,as it involves speaking out.Here are some commonly asked questions in Interview & methods to answer them.

Question : Tell /Describe about yourself ( you will be asked this 90% )

Answer : Don't recite your resume.Tell about your education, experience, projects worked ,passion etc.,Make sure you complete this within 2-3mins.

Q: Why should we hire you into our organization

A : This would be perfect time to tell about your strengths,achievements & assets. Compare your profile with the job role & justify that you will be a best fit for the job. Answers like ‘This is a best company’ , ‘I want a job in this field’ wont impress the interviewer.posted at www.bankexamsindia.com

Q : What are your strengths & weakness ?

A: Again this is also a commonly asked question to test how much you know of yourself.Make sure the Strengths you say have some relation to the job you applied.

’I am very good in english’ can be said as ‘I have good communication skills’ .

Weakness - ‘I don't have any weakness’ means you are not ready to talk about it.Similarly don't say something like, ‘Im short tempered & get angry very soon’ – It gives an impression that you are not fit to work in group.Say something which does not affect the working & also describe about the steps taken to overcome that.

Q: Where do you see yourself after 5 years ?

A: This question would be asked to check how much you know about the career path.

‘After 5 years,I want to be in your seat’ wont work in any case.Think realistically, understand the growth opportunities of that job & put it across to them.

These are just few questions that can be asked during an Interview ,but the list is exhaustive.So be prepared to answer any question with confidence. Read the real experiences of candidates as they share with us on SBI Interview Questions

Age Limit to apply for Indian Bank Jobs

To join any bank in India and to make it for the written exam,one of the eligibility condition posted by banks is - Age Limit. All public sector banks & private banks follow this criteria for the selection process mainly filter out initial competition.Since we often receive questions about this age factor,here are some points to clear the air.

Age Limits : For the post of Clerks 18 - 28 yrs & for Officers/PO posts 21 - 30 yrs would be the general condition. Apart from this, there are relaxations for candidates of certain categories -

Category	Upper age limit increased by
SC/ ST Candidates	5 years
OBC	3 years
Physically Challenged Candidates	10 years
Ex- Servicemen	5 years
Widows, Divorced women etc.,	9 years

* The data was compiled based on previous bank recruitments & may change. The final decision to include the relaxations, rests with the banking exam co-coordinator or those whose frame the criteria for bank exams.

Private Sector Banks : Although there are age limit to apply for private bank jobs, these relaxations may not applicable for their recruitments,as private sector picks suitable candidates through competitive exams.

Candidates must also understand that even though there are relaxations in age, they will have to compete with others to perform well in the written test, interview & reach the final selection.

Upcoming Bank Exams

Upcoming Bank Exams in 2010 – Quick Guide

Thank you readers for your overwhelming response to our previous guide (Nov 09) about upcoming bank exams. On popular demand,we are posting the list for the Bank Jobs Recruitment – 2010. Although there were not many notifications, we hope of an increase as months progress.

See the table below for upcoming & currently open bank recruitments along with their last date for applying ,for the month of December.Click on the name of the bank to view that specific recruitment notice.(each link opens in a new window)

posted at http://www.bankexamsindia.com

Bank	Post & Vacancies	Last date to apply
LIC	2048 DSE posts	June 9, 2010
Purvanchal Gramin Bank	Officers & Office Assitants	June 24, 2010
Satpura Narmada Kshetriya Gramin Bank	112 Officers & 238 Clerks	June 30, 2010
ICICI Bank NEW	Probationary Officers	June 30, 2010
Indian Bank NEW	685 Clerks	July 6, 2010
Syndicate Bank NEW	1000 PO	July 7, 2010
NABARD Bank NEW	170 Asst. Managers	July 12, 2010
Krishna Grameena Bank NEW	83 Clerks	July 5, 2010
HDFC Bank NEW	Various positions	know how to apply

* As new notifications are announced,this page will be automatically updated.

> Preparing for bank exams? Buy bank exam books online

Krishna Grameena Bank Clerk Recruitment 2010

Krishna Grameena Bank, sponsored by State Bank of India, Govt of India & Karnataka operates in the state of Karnataka.The bank has more than 105 branches in the districts of Bidar & Gulbarga.Krishna Gramin Bank has announced recruitment for 83 Clerks

Post – Vacancies – Payscale:

Clerk cum Cashier cum Computer Operator – 83 posts – Rs.4410-/-/13210

Dates : Last date for receipt of applications – 5.07.2010

Written exam for clerk post – 29.08.2010

Eligibility : Candidates interested to apply for clerical posts in KGB,

* Age limit : 18 – 26 yrs, as on 1.07.2010

* Pass in degree OR pass in 10+2(HSC) with 50% marks OR 60% in SSLC/SSC )OR Diploma in banking.

* Candidates with knowledge of computers & proficiency in English, Kannada are preferred.

* Should be a resident of Karnataka

Selection: The selection process for KGB recruitment involves a Written test & Interview.Candidates must secure minimum of 30% in each test & those with high marks would be called for Interview.Around 332 candidates (1:4 ratio) can be expected to be selected for Interview stage.

Application : The application fee of Rs.250(Gen/OBC) or Rs.50(SC/ST) has to be paid by DD from any scheduled commercial bank ,payable at Gulbarga.After payment, candidates have to fill the application form in the given format & send it to the address mentioned in the notification before 5.07.2010 along with DD, copies of required certificates

Refer : Candidates can download Krishna grameena bank recruitment notification & application format from their website here

NABARD Recruitment - 170 Assistant Manager Posts

NABARD(National Bank for Agriculture & Rural Development) was setup to extend facilities for development purposes to agriculture,small scale industries & allied industries.Apart from this, it also helps other banks in various functions.NABARD has recently announced recruitment for 170 Assistant Managers.

Post – Vacancies – Pay scale :

Assistant Manager – 170 posts( various depts.) – Rs.11250 /-/ 22500

Dates: Online registration of applications - June 14, 2010 to July 12, 2010

Written exam to be held on August 22, 2010

Eligibility: Candidates interested to apply for NABARD Asst.Manager jobs ,

* Candidates must have secured 55% in UG OR 55% in PG (any subject),as on 1.07.2010 (refer notification for qualifications about specialist posts)

* Must be within 21- 28 yrs for UG & 21 – 30 yrs for PG candidates, as on 1.07.2010

* Knowledge in computer operations is desirable

Selection: The selection process for Assistant Manager posts in NABARD has a Preliminary exam, which is a screening test.Candidates with high scores will be called for the Main examination (2 papers).More details on the test pattern would be discussed on www.bankexamsindia.com in the coming weeks.

Application: The fees of Rs.350 & Rs.50 (SC/ST) has to be paid at any SBI branch between June 14 – July 12, using the payment challan available in the bank website.After making payment, candidates have to apply online through the website www.nabard.org & print-out of the application has to be taken.

Download : Candidates are requested to download and read the NABARD Asst.Manager recruitment notice from the bank website here before applying online

Writing a Good Resume – Easy to Follow Tips

Resume or Curriculum Vitae is the face of a candidate appearing for any job.This piece of paper has so much value that it can either push you to the top or drag you down.So,it is better to get professional advice in preparing resume for your first job.Here are some tips for drafting a good looking resume.

# Print the resume in a standard paper format.Employers often complain about the quality and neatness of the paper in which the resume is printed.The most commonly used & the best paper format is A4.

# Don't write descriptive notes and history of the job in resume.Make it precise & easy to understand as people get bored on reading lengthy resumes.

# Emphasize on the projects that you were a part of mentioning its strengths and how you helped the team.Add other skills that may be relevant for the job.

# Never show hate about your previous company in resume like - ”Although i helped the company in fetching the project,the manager was partial with me in not rewarding me” .Such words, only creates bad impression about you.

# Trying to create sympathy mentioning family problems,personal economic issues,health problems can never fetch a job call.Incase you quit the previous job for health reasons,discuss it during the interview.

# Avoid spelling mistakes & grammatical mistakes by using simple sentences.Employers term spelling mistakes as character of a careless person.

# Although bold,italics words can be used in resume,minimal usage is advised.Also avoid decorating the resume with different fonts, colors, sizes.

Finally,create a resume which gives a rough idea of your character and performance to the employer,be it for bank exams leading to bank jobs or for other jobs.

Indian Bank Clerk Recruitment 2010 - Are you Eligible?

The Indian Bank recruitment 2010 for 865 clerks was announced recently ,for which the online registration process has begun.We have received many questions regarding eligibility conditions.Inorder to help candidates, we are publishing answers for some common questions sent to us.

Q: Can I apply to any state for the post of clerk?

A: Yes.A candidate can apply to any one State/UT, provided they fulfill all other conditions.Also the exam has to be written from the centre of that chosen state.

Q:Is computer knowledge necessary to be eligible?

A: Yes.The bank has clearly mentioned that computer literacy is essential for all candidates.Also, the bank provides six months of time to acquire the same.

Q: What are the educational qualifications to apply for this Indian bank recruitment?

A: The applicant must have passed HSC exam of 12th/equivalent with atleast 50% marks OR should have a degree from a recognized university, as on 01.01.2010

Q: Can final year/ semester students apply for this job in Indian bank?

A: Final year students can apply with their 12th marks(if above 50%).

Q: Should I send the online registration printout to the bank after submitting?

A: No.After submitting the online application, a printout can be taken for your personal reference & need not be sent to the bank.

Q: What are the books that can referred to prepare for this clerk exam?

A: We found some clerk exam books that can be purchased online -

The online registration starts from June 7 & closes on July 6, 2010.We have explained about this Indian bank recruitment earlier – Do check out for more info..!

ICICI Bank PO Recruitment 2010 Starts

ICICI Bank has announced the Probationary Officer Recruitment – November 2010 & February 2011 batches.ICICI Bank conducts PO programme to selected eligible candidates,train them in banking skills & appoint them as Assistant Managers in ICICI Bank.We had already reported about this ICICI bank recruitment last month.

About ICICI Bank PO Programme : ICICI Bank, India`s largest private bank has been conducting this PO programme for the past few years wherein graduates are selected through Aptitude test & Interview. Those selected undergo intensive training for 12-14 months(with stipend) on banking knowledge.On completion of training, they would be taken into ICICI Bank as Asst.Managers with annual salary of more than 3.5 lakhs

Dates: Online registration closes on – June 30 2010

Aptitude Test/Interview expected during - July / August 2010

Eligibility : Candidates interested to apply for ICICI bank PO recruitment 2010,

* Must have completed graduation(any discipline) with 55% aggregate

* Should be within 25 yrs as on November 1, 2010

Exam : Candidates shortlisted from applications will be invited for Test.Although ICICI bank website has not included more information on this recruitment 2010, read about the previous PO recruitment in ICICI bank - includes exam pattern, sample questions & books.(more details will be added once they are put up)

Registration : For registering to ICICI Bank PO Programme,candidates have to submit their application online.Visit the webpage here for online application,sample questions & complete details about the PO programme.

Syndicate Bank Recruitment - 1000 Probationary Officers

Syndicate Bank,started in the year 1925 has a presence of over 2000 branches in India.The headquarters of Syndicate bank is located at Manipal, Karnataka & the bank is inviting applications for the recruitment of 1000 Probationary Officers.

Position – Vacancies - Payscale:
Probationary Officer – 1000 posts – Rs.10000/-/18240 (salary to be revised)

Dates : Online Registration open from 8.06.2010 - 7.07.2010
Date of Written Examination – August 29th 2010

Eligibility : Candidates interested to apply for Syndicate bank PO recruitment 2010,

* Should be within age of 21 – 30yrs (as on 1.06.2010)
* Pass in graduation with minimum 55% marks OR degree in CA/ICWA/CS with 55%
* Certificate in computers is required (except those with computer as subject in UG/PG) * Final yr students/ waiting for results are not eligible to apply.

Selection: The process of selection of PO in Syndicate bank has Written Exam(Objective Test) & Interview.Negative marks would we awarded for each wrong answer & the objective test will have the following sections for 200 marks -

1) Reasoning 2) Numerical Ability 3) General Awareness 4) English Language

5) Computer proficiency.

Books : You can prepare for PO exam by buying bank exam books online & get it delivered to your home.Payment can be made via Netbanking/ MO/ Debit,Credit cards

# Bank PO Exam from Sura books – Rs.325 - Buy Online

# PO Exam – Practice Workbook – Rs.220 – Buy Online

# PO Previous Papers(solved) – Rs.160 – Buy Online

Application : The fee of Rs.300 (General/OBC) & Rs.50(SC/ST) has to be paid at any Syndicate bank branches using the payment challan given in the website.After payment, candidates must apply register online at www.syndicatebank.in- The printout of the application has to be submitted only during the Interview

Refer : Candidates can read the Syndicate Bank Probationary Officers Recruitment Project 2010-11 notification,download & apply online from the bank website here

Indian Bank Recruitment for 685 Clerks begin

Indian bank, one of the leading public sector bank in India has a strong presence of over 1642 branches all over India.The bank has around 19,000 staff & also has offices abroad.As part of the recruitment project 2010-11, Indian bank has announced recruitment for 685 clerks.

Position – Vacancies – Payscale :

Clerk – 685 posts (state-wise) – Rs.7200/-/Rs.19300

Dates : Opening date of Online Registration – 7.06.2010 (June 7, 2010)
Closing date of Online Application – 6.07.2010
Date of Written exam - 22.08.2010

Eligibility : Candidates interested to apply for clerk post in Indian bank ,

* Must be within the age of 18 - 28 years as on 1.1.2010

* Passed 12th/ equivalent with 50% marks OR Degree in any discipline from recog. university, as on 1.1.2010

* Should be able to read/write/speak English & official language of the state applied.

* Knowledge of computers is also essential for candidates.

Selection : The process of Indian bank clerk recruitment has Written test & Interview.The objective test (Reasoning, Numerical ability, English & Clerical aptitude) has negative mark for each wrong answer & candidates have to qualify in each test.Shortlisted candidates from the objective, descriptive test will be called for Interview.

Application : Candidates will have to pay Rs.50(SC/ST) & Rs.300(all others) at any of the Indian bank branches between 7.06.2010 & 6.07.2010 & obtain the payment details. All these info have to be submitted through the online application at www.indianbank.in

>> Candidates can download the application, challan & apply online for this Indian Bank recruitment 2010 through the bank website here.

SBI PO Jobs Written Test!

Candidates interested in applying for jobs in State bank of India have a reason to smile as the bank had recently made changes to their exam pattern. SBI has scrapped the mathematical/ quantitative papers for its Probationary Officers recruitment announced last month leaving more room to test candidates on logical reasoning & data analysis skills.

The Test : As per recruitment notice for officer jobs in State bank of India & their associate banks, here is the exam pattern -

1) Test of English Language
2) Test of General Awareness, Marketing & Computers
3) Test of Data Analysis & Interpretation
4) Test of Reasoning (High Level)

Test of Reasoning : The recent SBI recruitment for 4500 Probationary officers saw the inclusion of Test of Reasoning paper in place of Quantitative aptitude/ Numerical ability, which is a standard part of many competitive exams in India, including bank exams.This could be due to the change in the test pattern made by SBI, says an article published in Business line.

Decision Making : Now, with this change the bank looks to extract & test the reasoning and decision making skills.This seems to be a welcome move by SBI as bank officers will have to choose & decide between various available options for which their analysis, logical reasoning & decision making skills are taken into account in written exams.

No Maths.Easy? Although, the removal of maths papers from SBI officer recruitment exams would enable more eligible candidates with no exceptional maths knowledge to apply, it is also mentioned - Test of Reasoning would be of high level !

Hence, bank job aspirants will now have to prepare extensively for the reasoning & data analysis tests, as the competition for bank jobs is increasing & SBI remains the first choice for many.

Role of Probationary Officers

Probationary Officer is one of the post regularly advertised for bank recruitments, but many candidates do not know the work involved or the exact meaning of PO.One of our readers had asked a question regarding the role of probationary officer in banks.

Hence we felt it would be better to analyze the job profile in detail, enabling freshers to understand the position better before applying for upcoming bank exams.So, what are the functions of a Probationary Officer in bank ?

Probationary Officer is the first entry point for a job in bank, especially to fresh graduates & those without prior experience.The PO will report to their immediate senior officer,who will closely monitor & evaluate the performance of him/her for a certain period.

While on job, Probationary officers will have to take up assignments given by their managers.Along with training,they will also be deployed across various departments of the bank to gain exposure in operations & working of bank.So,in short,the PO must be willing to take up any work during the probation period in order to understand the process effectively & to scale greater heights and reach higher positions.

Probation period : Normally,the probation period for PO`s will be for 2 years.The probation period can also considered as the learning phase. Hence it is extremely important to be in good conduct,during probation.Banks have the right to terminate the employee during the probation,if he/she does not fit the position.

Salary: The payscale for probationary officers ranges between Rs.10,000 - 18,240. Depending on the post & grade after successful completion of probation,the pay scale may increase.An increase in salary for bank employees has been approved recently

SBI Bank Exam - Previous Question Papers

Its Exam time ! State Bank of India has announced various vacancies including the 500 Management Executive positions in SBI.We are already receiving many questions about eligibility for SBI job.Some of our readers are also contributing previous year bank exams question papers.In that list,Mr.Shibu from Kerala has sent the SBI Clerk Exam Solved Question papers - 2009,the results for which was released recently.

You can read the SBI Solved Question Paper Online or you can download as PDF file & read it in your free-time.

* SBI Previous Questions - Reasoning Paper - Read Online
* SBI Previous Questions - Quantitative Aptitude - Read Online
* SBI Previous Questions - Computer Aptitude - Read Online
* SBI Previous Questions - General English - Read Online
* SBI Previous Questions - General Awareness - Read Online

Looking for previous year Question Papers/Books/Guides ? See the list of popular books, buy online & get books delivered at your home.

A Look At The Advantages And Disadvantages Of Internet Banking

Internet banking has become the newest craze to hit the Internet world. More and more people are turning towards this method rather than wasting gas to drive across town to go their bank. However just like everything in life there are both advantages and disadvantages to this type of banking system

One of the best things that a lot of people have found to be an advantage to online banking is that it will be able to save you both time and money. When you choose to turn to online banking you will find that you will be able to check your account, pay bills, and even manage your various accounts with just a few simple and easy clicks of your mouse. What is even better is that you will be able to all this at a time that is convenient for you even if it’s in the middle of the night.

You will also find that you will never have to waste your time to call your bank or drive to your nearest ATM just to check your bank balance. Never again will you find a late bill because you can schedule to have them paid on their due date right from your account.

This leads us into the other great advantage of online bill paying. Almost every bank today offers you this great choice online. You will be able to choose from a onetime payment or, set up monthly payments right from the convenience of your own home. Never again will your bills be late because you forgot to pay one.

Another great advantage to the online banking system is that a lot of the savings account created online earns a higher rate of interest than those at regular banks. What is even better is that some of the online banks will also offer you an interest rate on your checking account as well. You will definitely not find this at a real life bank.

One of the disadvantages of online banking is that although it may be easier to manage your money a lot of people forget to keep track of their balance. However you do have the option of setting up your account so that you will receive an email each time your account drops below a certain level but, you should also keep good track for your own budgeting needs.

Another disadvantage to online banking would be those annoying hackers. You need to take the time to consider the overall security of the bank you are considering before you even think about opening an account with them. Take the time to discuss with the bank what they would do if there was a security breach within your account. Also be sure that you have the proper security software on your computer to reduce the chance of hackers gaining access to your personal information.

So as you can see there are a variety of advantages and disadvantages to Internet banking. Go ahead and give it a try yourself and discover what all the hype is about.

Reversing Overdraft Fees - What You Need To Do

If you are paying at least one overdraft fee per month, you are probably feeling rather frustrated. The average bank overdraftfee these days is around $30, so just three overdrafts will cost you $90! And, that is pure profit for your bank. In fact, U.S. banks made about $28 billion last year in overdraft fee-based income alone.



Having to pay overdraft fees seems like it would be purely the domain of the irresponsible banking customer. Not necessarily so! Even people who take constant pains to balance theirchecking accounts can find themselves coming up short.



Common Pitfalls for Bank Customers



Bank customers today face a number of potential pitfalls when as the navigate their banking life. Here are some of the main pitfalls that bank customers face that can result in more overdraft fees:



1. Overdraft protection programs:

Most people do not realize that they are enrolled in an overdraft protection program. That's because most banks automatically enroll people in these programs when they sign up for a new checking account. Put simply: participating in these programs enables the bank to cover any charges that exceed the balance of the account. But, the customer must pay a hefty overdraft fee - often multiple fees in the same day - every time this happens.



2. Debit cards:

In terms of the history of modern banking, debit cards are a relatively recent phenomenon. And, they are a great convenience. However, when combined with overdraft protection programs, they can also be quite costly. Reason: your bank will not reject a pending debit charge if your balance is too low. Rather, it will honor the charge, and then automatically charge you an overdraft fee. This fact makes overdraft protection programs anddebit cards a deadly combination.



3. Confusing online bank statements:

Even for those who try diligently to track their balances online in order to avoid overdrafts, it is not so easy. That is because the way the major banks display your account information, including current balance amount, can be very misleading. For example, a check that already shows as having cleared your account may have not yet been deducted from your balance. This can give the false impression that the balance is larger than it actually is - increasing the risk of overdrawing the account.

4. Transaction stacking practiced by banks:

Most big banks have admitted to participating in something called "transaction stacking." This is where they deliberately process the transactions of higher amounts first, then the lower ones - regardless of the order they were made on a given day. This practice increases the chances that you will end up with a negative account balance after a day of shopping.



Reversing Overdraft Fees

You may have recently noticed an overdraft fee on your account. If you are interested in reversing overdraft fees, here is what you need to do:


1. Take the time to get the facts straight about what happened, including the transaction date, amount and vendor name for the charge that caused the overdraft.


2. Be polite to the bank rep: he or she is just a person like you working for a large bank. They will be much more likely to agree to reverse your charge if you are polite.


3. If you don't succeed in getting the fee reversed on the phone, try writing a letter and sending it to the headquarters office. Sometimes, putting everything in writing will show the bank you are sincere in your desire to get the charge reversed.


Whether or not you are successful at reversing your overdraft charges, just the time it takes you to lodge a complaint is costing you money. In the end, the best solution for you may be to switch to a bank that does not charge overdraft fees - even when you overdraw your account.

NABARD : 25 YEARS OF DEDICATION TO RURAL PROSPERITY

NABARD completed 25 years of its eventful and trailblazing existence on 12 July 2007. Established in 1982, by an Act of Parliament, NABARD's mandate was to provide focused and undivided attention to the development of rural India by facilitating credit flow for promotion of agriculture and rural non farm sector. Emphasizing this in no uncertain terms, its mission statement underscores NABARD's goal to "promote sustainable and equitable agriculture and rural prosperity through effective credit support, related services, institution development and other innovative initiatives". NABARD's functions can be classified into 4 major categories viz. Credit Planning, Financial Services, Promotion and Development, and Supervision. Under Credit Planning NABARD prepares Potential Linked Credit Plan (PLP) annually for each district of the country by assessing potential available in agriculture and rural sector. This serves as a guide for banks and Government agencies to prepare their own investment and credit plans in the district and state. Under its Financial services, it refinances commercial, co-operative and regional rural banks for lending to on farm and non-farm activities. This includes farm activities like minor irrigation, animal husbandry, farm mechanization, forestry, fisheries, land development, horticulture, plantation and medicinal crops and non-farm like rural industries, artisans, handicrafts, handlooms, rural housing, rural tourism and agro processing. Refinance is provided by NABARD for both long term investment credit as well as short term production credit for crop loans and working capital for non-farm activities. A nationwide network of 28 regional offices at the state capitals, a sub-office at Port Blair and 391 district development offices are at hand to cater to this awesome task. Clearly NABARD's benevolent hand has been silently at work in supporting rural resurgence in various ways and its stakes are quite enormous. A glance at the figures will give a fair idea. It has channelised a whopping Rs. 1,21,000 crore under its investment credit programme and RIDF since inception, which includes Rs. 8795 crore disbursed during 2006-07. Under production credit the Bank sanctioned limits of Rs. 12570 crore during 2006-07. NABARD has effectively brought in a number of innovations in the rural credit domains. To quote a few: Formation and Linkage of Self Help Groups, Farmers Clubs, Rural Infrastructure Development Fund, Watershed Development, Kisan Credit Card, District Rural Industries Project, Cluster Development Programme and Rural Innovation Fund.

Self Help Groups (SHGs) Farmers Clubs Rural Infrastructure Development Fund (RIDF) Watershed Development Tribal Development and WADI approach Women and Development District Rural Industries Project (DRIP) Rural Entrepreneurship Development Programme (REDP) Rural Marketing Revival of Short-Term Rural Co-operative Structure (STCCS) Rural Innovation Fund NABARD Consultancy Services (NABCONS) Co-Financing

Self Help Groups (SHGs): One of the major success stories of NABARD, the SHG Bank linkage programme started as a pilot project in 1992 with 500 SHGs. SHGs comprise homogeneous groups of poor people who have voluntarily come together mainly with the idea of overcoming their common problems of low social and economic status. SHGs enable the poor, especially the women from the poor households, to collectively identify, prioritize and tackle the problems they face in their socio economic environment. By pooling their meager resources and using them for lending among themselves, they develop the habit of thrift and the skill of credit appraisal, before getting mature enough to access a loan from banks, which is called credit linkage. Starting with small loans for consumption they soon graduate to bigger loans for setting up of income generating micro-enterprises. Today, NABARD's SHG Bank Linkage Programme boasts of over 26 lakh SHGs and 3.9 crore households influencing the lives of over 16 crore poor population. During the year 2006-07 alone, as many as 458591 groups were credit linked.

Farmers Clubs A popular intervention among both farmers and Bankers, the farmers Club concept was envisaged as an experiment in social engineering, a forum to bring the rural banker and the borrower closer and to propagate the principles of development through credit. Farmers Club is an informal group of 15-20 farmers, one per village, which acts as a medium for accessing and disseminating awareness of modern methods of farming and technological advancements in agriculture in its area. Financial support is provided by NABARD for opening and maintenance of Clubs as well as for organizing training programmes in the respective villages. With corporates and food chains looking for supply chain linkages of farm produce, Farmers Clubs may have an important role to play in joint production and marketing of farm produce. As on 31 March 2007 , there were Farmers Clubs in 534 districts covering 48763 villages.

Rural Infrastructure Development Fund (RIDF): Deficient Rural infrastructure hinders both social and economic development. Economists have explicitly emphasized on the direct correlation between the index of infrastructure development and rural development. NABARD's support to State Governments through RIDF since 1995-96 has brought about a sea change in the shape of upgraded infrastructure in rural areas. Rural roads and bridges under RIDF have improved market access to farmers; check dams and irrigation structures have augmented their water resources. Even drinking water projects and health centres have been supported under the Fund. NABARD so far has sanctioned Rs. 61539 crore for 2,44,025 projects under the Fund. A cumulative position of sector-wise sanctions as on 31 st March 2007 : Irrigation: Rs. 20637 crore, Rural connectivity: Rs. 26935 crore for rural road network and bridges, Power: Rs. 1434 crore Social Sector: Rs. 6988 crore Others: Rs. 5547 crore. A separate window has been created for rural connectivity with villages of population less than 500, with a corpus of Rs. 4,000 crore to support the Bharat Nirman project.

Watershed Development: In a comprehensive effort to enhance productivity of dryland through conserving soil, rainwater and irrigation, NABARD embarked on perfecting its experiments in creating a sustainable cost effective solution to the water harvesting techniques in rural areas. Building on its experience with the KFW funded watershed development programme in Maharashtra , NABARD established a Watershed Development Fund with an initial corpus of Rs. 200 crore in 1999-2000 which now stands at Rs. 602.76 crore. The programme is now being replicated in 124 districts of 14 States.

Tribal Development and WADI approach : With over 8% of the population comprising tribals largely dependent on forests, livestock and agriculture, NABARD found a holistic approach by addressing production, processing and marketing of the produce with WADI as the core of the programme. WADI (small orchard) was found to be an effective tool for arresting migration of tribals from their native habitat. The WADI model evolved out of concerted efforts made in association with Bhartiya Agro Industries Foundation (BAIF). The project also envisages other development interventions like environment, gender and health. Having completed 10 years in Gujarat and 5 years in Maharashtra , the programme has touched 275111 families in 410 villages.

Women and Development Women constitute one third of the labour force. In order to give focus to women in various development activities and increase their access to Bank credit, schemes like Assistance to Rural women in Non-farm Development (ARWIND), Assistance for Marketing of Non- Farm Products of Rural Women (MAHIMA), Development of Women through Area Programme (DEWTA) have been designed to provide exclusive support to women in rural areas.

District Rural Industries Project (DRIP): NABARD launched DRIP, an integrated area-based credit intensification programme, in collaboration with Government, banks and other development agencies with district specific focus. It was introduced in 1993-94 with the objective of creating sustainable employment opportunities in 106 districts all over the country.

Rural Entrepreneurship Development Programme (REDP): In order to generate employment in rural areas, it was felt necessary to develop the entrepreneurial skills of the rural youth. REDP is a promotional programme supported by NABARD to motivate and train educated unemployed rural youth, to set up their own enterprises. So far, 2.32 lakh persons have been trained under the programme under 7792 REDPs.

Rural Marketing: A number of marketing interventions have been made for marketing of rural non-farm products since marketing is a key factor in the sustainability of any such endeavour. With the financial support of NABARD under its promotional programmes like Rural Haats, Rural Marts, participation in fairs, exhibitions and marketing melas, rural artisans and entrepreneurs can get a larger market for their produce and showcase their talent to urban and upcountry markets.

Revival of Short-Term Rural Co-operative Structure (STCCS) NABARD is the implementing agency for the Revival package for the STCCS which mean the State Coop. Banks, District Coop. Banks and the Primary Agricultural Coop. Societies. (PACS). The revival package has been approved by the Govt. of India based on the recommendations of the Vaidyanathan Committee. NABARD has had dialogues with State Govts. and so far 10 states have executed MOU with GoI and NABARD. Apart from being on the national, state and district level implementing committees, NABARD has designed guidelines and training manuals for the special audit of PACS under the Package.

Rural Innovation Fund: In association with Swiss Agency for Development and Cooperation (SDC), NABARD has constituted the “NABARD SDC Rural Innovation Fund (RIF)” to support innovative projects in Farm, Non-Farm and Micro-Finance Sectors leading to creation of livelihood opportunities for the poor. Government and Non-Government Institutions, corporate bodies, financial institutions and individuals can avail funding support for activities involved in development of new products, processes, prototypes, technology etc. which have the poor in their focus.

NABARD Consultancy Services (NABCONS) NABCONS is a wholly owned subsidiary of NABARD, which has established itself as a dependable and professional consultancy services provider in agriculture and allied activities. As on 31 March 2007 , it has cumulatively contracted 487 national and international assignments involving consultancy fee of Rs.25.49 crores.

Co-Financing It has been the experience that Banks are wary of taking credit risk of financing high tech/large scale/ export oriented agricultural projects or those involving sunrise technologies. To instill confidence in banks and ensure credit flow to such projects, NABARD has entered into agreements for co-financing with 14 commercial banks. During 2006-07, seven projects were sanctioned with bank loan of Rs. 145.03 crore and NABARD's share of Rs. 72.42 crore. Floriculture, organic farming, milk processing, ethanol production and agro processing are among the projects sanctioned so far.