http://m.indiatoday.in/story/startup-india-19-key-points-of-pm-modis-action-plan/1/572651.html
#startup india standup india
Someone knows about ravimohanmishra.com? How are the classes?
For Commerce graduates.
Questions Asked.
Difference between Equity shareholders and preference shareholders ?
Who are the owners of the company, equity or preference shareholders ?
If asked in Interview Tell about indian economy then kya bolunga please tell in Brief
puys if intrvw m 3 4 questions ka answer hi dia ho and jyada acha intrvw na jaaye dn minimum kitne marks de dete h....fail to nhi krdete naa...plz reply
Interview experience
I went into the Bank with lots of things in my mind, I studied CA, Basics of Accounting, Banking, Economy, Important people etc. I even scanned today's news paper leaving no headline.
What happened is they didn't ask me what I expected and what I read, but what is so easy and that I couldn't answer perfectly, but I did answer of course.
VENUE: Andhra Bank, Visakhapatnam, A.P
DAY: 18 Jan, 1 pm, Panel 1
DOC VERIFICATION: Strict. Checked everything, but they didn't care about percentage and Date of passing. I wrote wrong date and thought it would be a problem, but they didn't even check it. But they didn't agree with my caste certificate format. They made me write an undertaking. I enquired what the future problems could be, he said 'you have to submit the prescribed format to the bank you will get if you are selected.'
INTERVIEW: I was the second person, they are so energetic after lunch. For everyone it's only 10 minutes, for me about 15 min. There are five people; three senior men, and one younger person and one younger woman. Everyone of them are so friendly and supportive.
ALL OF THE INTERVIEW IS IN TELUGU. Good thing for me 😃
I went in wished Good afternoon sir looked at all men, and finally Good afternoon mam for woman. I was active all the time never nervous all over the interview.
Chairman (M2): No 'Tell me about youself' here. Directly they asked about father, and lot of personal que which I answered well.
M2: What is your expected marks? I said. So you have very high marks than cutoff, he said good.
M2 again : So why banking? Why are doing after grad. I said after B.tech I got TCS but I felt that we are underpaid, as salaries are less, so I decided to prepare for govt. jobs. Out of all, Banking looked good with high growth and good salaries. He said okay, then TCS had good growth too? I said, that there's also another reason for me, software is also a change of field like banking, so I thought of selecting the field which I'm more interested and which is better. I feared about cross questions, as this didn't sound like a good answer. But he smiled and didn't look like he bothered about that.
M2: Do you watch movies? I said rarely only with family. He said okay you are then a good boy.
M2: What have you prepared. What to ask?
Me : I said I know basics of banking, and ECE I can answer best.
M2: There's a lot about Free basics these days. What is it? i explained clearly. Why people are opposing? I said about Save the Internet. the reality about personal profit, advertising and marketing through fb by making it free and related websites. He is satisfied. Asked so we don't need that? I said it'd be useful it educational sites are given free instead of fb which isn't that useful for using free for students and aspirants like me.
M2: What is Universal banking? I said we can go to any bank and funds transfer is done easily to any bank, but it's wrong which I realized later. But there he didn't say anything asked next question like I said correct. They corrected everywhere where I was wrong here they didn't bother!
KYC? Money laundering? Black money? I said all. Black money? I said that it is earned by illegal ways. But it isn't a good answer, he still asked. Later he said I missed 'unknown source'. Drug trafficking? I answered. He then started telling, that when we buy flats they write less than original cost to evade tax, I was just saying yes, and nodding my head.
M2: Difference between pvt and psb. I started telling that pvt are profit oreinted and psb help people. he interrupted asked to tell about ownership, I said about 70+ is usually GOI share. he said it must be 50+. I know this, I don't why I made a mistake 😞
M3: What is Constitution day? Why Modi did it? Who is the head of Drafting Committee. I said all. But when he asked did B.R.Ambedkar got Bharat Ratna, I said I wasn't sure, he said he did. I failed in a silly question here.
M4: What is MOSFET? I immediately said full form and how that is used. He didn't bother and asked about JFET. Is it widely used? Again full form and said it isn't widely used as it has limitations than MOSFET. I now guess he didn't know much so even I didn't answer good he said okay and passed the turn to the woman.
W: How do you recognize a Currency note? Thinking. M4 said we can see that in ATMs. Thinking and said I don't remember. They all smiled and said okay thank you. I wished them thank you and to woman and came out.
No problem in personality or speaking, only thing is I answered wrong are Universal Banking, PSB share of GOI and Ambedkar Bharat ratna or not. currency note I said I don't remember, black money I didn't explain completely.
Plz Experienced people how much do you rate for my Interview?
ATB 😃 to all.
#Edited
i was not allowed to take interview as my university had given me a internet copy of marksheet of 3rd year countersigned by registrar... the lady who did my document verification tried hard to persuade the the control room... but in vain.. i dont know what to do... they said the marksheet should be handwritten... but my university provide computer copy of provisional certificates and marksheets.. who to blame??? what should i do???
In my application form I have by mistake filled my permanent address the same as my correspondence address..whereas in my ID proofs permanent address is mentioned.Will this create a problem?
anyone from andhra who completed their interview??
can anyone explain AIIB and start up in detail?
What should be ans of Question - bank already have a lot of no of Engineers why should we hire you
Priority lending exists in private banks ?? ,,,,this question was asked in interview .....Answer plz ??
How engineering useful to bank
My top three Preferences:
1. EXIM Bank 2. IDBI 3. ECGC
Just to get posting in Metro Cities..i ve given this..bt i cant say this as a reason when they ask me abt my preferences..how to justify..? any suggestions...
Hola friends 😁
got a question......after getting our docs verified,, do we have to fill a resume or form of some kind ???
I am a M.Tech in ECE.How to answer properly if asked that 'dont u think u r overqualified'?
Venue - Chennai. IOB Regional Office.
Date - 18-01-2016
Afternoon Batch.
Panel 1 - 3 Men (M1 M2 and M3) and a woman (W).
M1 - so, you are from engineering background right....
😳
(Turned my papers again)
M1 - Oh B.Com? sorry sorry....
Me - Yes sir.
M1 - hmmm, so you are fit for banking, right?
Me - I do think so sir (was expecting that they were gonna drill me with graduation related questions)
M2 - Any other qualifications?
Me - Told that I am doing CS now.
M2 - Will u stick to banking or leave after completed CS?
Me - told that I will stick to banking.
M2 - What did you learn in B.Com that you think you can use it in banking sector?
Me - told that I read so and so subjects that I can use it in banking.
M3 - Be specific.
Me - I started to explain about Balance Sheet.
M3 - General balance sheet or Balance sheet for banking sector?
Me - Balance sheet for Banking sector. (I could see Complete Balance sheet in front of my eyes)
I told about Share capital, deposits, borrowings, Cash with RBI...
(M2 interrupted)
Rapid fire round started...
M2 - hmmm Share Capital? Ok What is the difference between equity and preference shareholders ?
Me- Told.
M2 - One more difference?
Me - Told.
M2 - One more....?
Me - told.
M2 - ok Good.
M2 - ok, who are the owners of the company equity or preference shareholders?
Me - Told.
Another rapid fire round....
M1 - What do you know about New development Bank?
Me - Explained.
M1 - Who are BRICS members?
Me - Told.
M1 - Who is the Head?
Me - Told.
M1 - Where is it HQ?
Me - Told.
M1 - ok Good.
W - Thats all balaji, You can go now...
I got up from the chair...
W - Are you nervous?
Me - Little bit.
W - Why?
Me - I am just excited about the interview, thats why... 😛
They all laughed. 😃 :laughing:
M1 - Excited huh? Hmmm....
W - So, you enjoyed the interview experience?
Me - Very Much Ma'am...
She smiled....
W - Ok, you can go now....
End of the interview Story....
(No 'tell us about yourself', No hobbies, strengths, weaknesses questions , No banking terms, No current affairs related questions, No scenario based questions, No 'why ecgc/exim or preference based questions). 😓
#Important #GST GST टैक्स सुधार के लिए क्रांतिकारी कदम माना जा रहा जीएसटी देश के हर नागरिक को प्रभावित करने वाला है। जानिए जीएसटी से जुड़े हर सवाल का जवाब। सवालः क्या है जीएसटी? जवाबः जीएसटी का पूरा नाम है गुड्स एंड सर्विस टैक्स। ये एक अप्रत्यक्ष कर है यानी ऐसा कर जो सीधे-सीधे ग्राहकों से नहीं वसूला जाता लेकिन जिसकी कीमत अंत में ग्राहक की जेब से ही जाती है। अप्रैल 2016 यानी अगले वित्तीय वर्ष से जीएसटी को लागू होना है। इसे आजादी के बाद सबसे बड़ा टैक्स सुधार कदम कहा जा रहा है। जीएसटी लागू होने के बाद दूसरे कई तरह के टैक्स समाप्त हो जाएंगे और उसकी जगह सिर्फ जीएसटी लगेगा। सवालः जीएसटी कौन-कौन से टैक्स खत्म करेगा? जवाबः जीएसटी लागू होने के बाद सेंट्रल एक्साइज ड्यूटी, एडीशनल एक्साइज ड्यूटी, सर्विस टैक्स, एडीशनल कस्टम ड्यूटी (सीवीडी), स्पेशल एडिशनल ड्यूटी ऑफ कस्टम (एसएडी), वैट/सेल्स टैक्स, सेंट्रल सेल्स टैक्स, मनोरंजन टैक्स, ऑक्ट्रॉय एंडी एंट्री टैक्स, परचेज टैक्स, लक्जरी टैक्स खत्म हो जाएंगे। सवालः तो क्या जीएसटी में कोई टैक्स नहीं लगेगा? जवाबः जीएसटी लागू होने के बाद वस्तुओं एवं सेवाओं पर केवल तीन टैक्स वसूले जाएंगे पहला सीजीएसटी यानी सेंट्रल जीएसटी जो केंद्र सरकार वसूलेगी। दूसरा एसजीएसटी यानी स्टेट जीएसटी जो राज्य सरकार अपने यहां होने वाले कारोबार पर वसूलेगी। कोई कारोबार अगर दो राज्यों के बीच होगा तो उस पर आईजीएसटी यानी इंटीग्रेटेड जीएसटी वसूला जाएगा। इसे केंद्र सरकार वसूल करेगी और उसे दोनों राज्यों में समान अनुपात में बांट दिया जएगा। सवालः जीएसटी के क्या फायदा होगा? जवाबः आज एक ही चीज अलग-अलग राज्य में अलग-अलग दाम पर बिकती है। इसकी वजह है कि अलग-अलग राज्यों में उसपर लगने वाले टैक्सों की संख्या और दर अलग-अलग होती है। अब ये नहीं होगा। हर चीज पर जहां उसका निर्माण हो रहा है, वहीं जीएसटी वसूल लिया जाएगा और उसके बाद उसके लिए आगे कोई चुंगी पर, बिक्री पर या अन्य कोई टैक्स नहीं देना पड़ेगा। इससे पूरे देश में वो चीज एक ही दाम पर मिलेगी। कई राज्यों में टैक्स की दर बहुत ज्यादा है। ऐसे राज्यों में वो चीजें सस्ती होंगी। सवालः क्या पेट्रोल और शराब पर भी लागू होगा फैसला? जवाबः पेट्रोल-डीजल की कीमतें आज अलग-अलग राज्यों में अलग-अलग हैं। यही हाल शराब का है। जीएसटी लागू होने के बाद भी फिलहाल ऐसा जारी रहेगा। क्योंकि राज्यों की डिमांड पर केंद्र सरकार शराब को जीएसटी से बाहर रखने पर राजी हो गई है जबकि पेट्रो पदार्थों पर उसने निर्णय लिया है कि ये रहेंगे तो जीएसटी के अंदर लेकिन इनपर राज्य पहले की तरह ही टैक्स वसूलते रहेंगे। यानी पेट्रोल, डीजल और एलपीजी सिलेंडर की कीमतों में राज्यों में जो अंतर देखने को मिलता है वो मिलता रहेगा। सवालः जीएसटी पर राज्यों के हाथ से तमाम टैक्स फिसलेंगे उनकी टैक्स भरपाई कौन करेगा? जवाबः जीएसटी लागू होने से केंद्र सरकार, कारोबारी, दुकानदार व उपभोक्ता सबको तकरीबन फायदा होगा। हालांकि राज्यों को इससे कुछ नुकसान झेलना पड़ सकता है लेकिन उनको जितना नुकसान होगा तीन साल तक उसकी भरपाई केंद्र सरकार करेगी। चौथे साल 75 फीसदी और पांचवें साल 50 फीसदी नुकसान की भरपाई केंद्र सरकार करेगी। केंद्र सरकार राज्यों को भरपाई की गारंटी देने के लिए इसके लिए संविधान में भी व्यवस्था करने पर भी तैयार हो गई है। सवालः जीएसटी से सरकार को क्या फायदा होगा? जवाबः जीएसटी लागू होने के बाद देश की जीडीपी ग्रोथ में तकरीबन दो फीसदी तक का उछाल आने का अनुमान है। ऐसा इसलिए होगा क्योंकि टैक्स की चोरी रुकेगी क्योंकि अभी टैक्स कई स्तरों पर वसूला जाता है इससे हेराफेरी की, धांधली की गुजाइश ज्यादा रहती है। जीएसटी के चलते टैक्स जमा करना जब सुविधापूर्ण और आसान होगा तो ज्यादा से ज्यादा कारोबारी टैक्स भरने में रुचि दिखाएंगे। इससे सरकार की आय बढ़ेगी। व्यापारियों को भी जब अलग-अलग टैक्सों के झंझट से मुक्ति मिलेगी तो वे भी अपना व्यापार सही से कर पाएंगे। टैक्स को लेकर विवाद भी कम होंगे। अर्थव्यवस्था को गति मिलेगी।
GK Update - MoUs signed between India and Russia
Dear Readers,
The recent agreements signed between India and Russia in Moscow could be important for your exams. In this article, we will quickly cover these agreements.
In the last week of December, Indian Prime Minister Narendra Modi and Russian President Vladimir Putin met in Moscow and inked a number of crucial pacts (16 MOUs in all). Russia also showed its strong support for India's UN Security Council membership. The MoUs signed between India and Russia are as follows:
Memoranda of Understanding
1. Protocol amending the agreement between India and Russia on simplification of requirements for mutual travels of certain categories of citizens of the two nations.
2. Protocol amending agreement between India and Russia on mutual travel jurisdiction for holders of Diplomatic and Official Passport of 3 December 2004.
3. Agreement on Cooperation in the domain of Helicopter Engineering.
4. Plan for Cooperation between the Russian Federation and the Federal Customs Service of the Central Board of Excise and Customs, Department of Revenue, Ministry of Finance, India for tackling Customs violations in 2015-2017.
5. Programme of Action between the Department of Atomic Energy of India and the Russian Srate Atomic Energy Corporation "Rosatom" for localisation of manufacturing in India for Russian-designed nuclear reactor units.
6. MoU between the Indian Ministry of Railways and the Joint Stock firm "Russian Railways" on technical cooperation in the railway sector.
7. MoU on constructing solar energy plants in India, signed between Solar Energy Corporation of India and Russian Energy Agency.
8. MoU for cooperation between Heavy Engineering Corporation (HEC), India and CNIITMASH for developing Centre of Excellence for heavy engineering design at HEC.
9. MoU for cooperation between HEC and CNIITMASH for upgradation and modernisation of manufacturing facilities at HEC.
10. MoU on cooperation in the field of Broadcasting between Prasar Bharti and Digital Television Russia.
11. Tripartite MoU between Centre for Development of Advance Computing (C-DAC), Indian Institute of Science, Bangalore (IISc) and Lomonosov Moscow State University (MSU).
12. Tripartite MoU between C-DAC, Open Joint-Stock Company "GLONASS" and GLONASS Union.
13. MoU between the Tata Power Company Limited and Ministry for Development of the Russian Far East, in the field of investment cooperation.
14. MoU for cooperation in geological survey, exploration and production of hydrocarbons onshore and on the continental area of the Russian Federation.
15. Confirmation of successful conclusion of the first stage pre-completion activities with respect to creating a Joint Venture in JSC VankorNeft.
16. MoU between Rosneft oil company, Oil India Limited and Indian Oil Corporation Limited, for cooperation in geological survey, exploration and production of hydrocarbons onshore the Russian Federation.
Additional Highlights
· The two sides emphasized their commitment to achieve the target set at the last Annual Summit, to boost bilateral trade and investment, and underlined the need for continued facilitation by both governments. This will be based on regular consultations within the body of institutional mechanisms and faster implementation of decisions and liberalisation of relevant rules and regulations.
· Both sides reiterated their evaluation that the Make in India programme facilitates a new and better system for engagement by Russian corporate units in the fast evolving Indian economy. They also highlighted the role of investment funds to facilitate high-technology investments in both countries.
· The leaders welcomed the inaugural meeting of the Joint Study Group for examining the possibility of hydrocarbon pipeline system connecting India and Russia, held in Moscow on 6 November 2015. This was a part of the Programme on Enhanced Cooperation in the Oil and Gas domain, signed in December 2014.
· The sides welcomed the signing of the Agreement between Rosneft and ONGC Videsh Limited (OVL) for obtaining 15 per cent stakes by OVL in Rosneft's Vanorneft Oil fields and talks for further stakes in the future. They also appreciated the offer made by Rosneft of scholarships to Indian students aspiring to pursue education in the field of Oil and Petroleum in Russia.
· Considering Russia's status as a member of the Arctic Council (AC) and India's observer status in the same since 2013, the leaders stressed the significance of joint activities in the framework of the AC. The potential for development of joint scientific research in the Arctic region, especially the Russian Scientific Center on Spitsbergen was also acknowledged.
· The sides welcomed the decision to set up a joint working group on education and observed the vast potential for expanding student exchanges, cooperation in vocational training of engineers, teachers and other specialists. Indian leaders underlined the importance of the Global Initiative for Academics Network (GIAN) in this context and encouraged the faculty from various Russian universities to avail the opportunities available.
· Both countries expressed satisfaction at joint Russian-Indian naval activities in December 2015 in the Bay of Bengal, as well as INDRA-2015 joint exercises involving ground forces, conducted in November 2015 in Rajasthan (India). They also welcomed the visit of the Chief of the Army Staff of India to Russia in September 2015, during which fruitful discussions were held to expand training and institutionalized interactions between the Armed Forces of both countries.
· They agreed to establish stronger links between their anti-narcotics agencies and to work for finalising a Joint Action Plan between the Federal Service for Narcotics Control of Russia and Narcotics Control Bureau of India.
· The two countries reaffirmed their mutual support on disaster risk reduction, rescue and humanitarian relief, as shown in their cooperation in evacuating their citizens during the Yemen crisis in April 2015. They also agreed to finalise a Joint Action Plan between the Ministry of Russian Federation for Civil Defence, Emergencies and Elimination of Consequences of Natural Disasters and the Ministry of Home Affairs of India so as to guide cooperation in this context.
These are the major points to be remembered in the India-Russia bilateral relationship. If you can understand these well, you can easily answer questions pertaining to it.
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RBI Monthly Bulletin - Census on Foreign Liabilities and Assets
Dear Readers,
The Reserve Bank of India (RBI) recently released its monthly bulletin for January 2016 and it could be important for your exams.
For the financial year 2014-15, the bulletin contains three major articles on (i) Census on Foreign Liabilities and Assets of Indian Direct Investment Companies; (ii) Survey on International Trade in Banking Services; and (iii) Survey on Computer Software and Information Technology-Enabled Services Exports. We will look into the introduction, highlights and conclusion of the first article.
Introduction
· The Census covers Indian resident firms that received Foreign Direct Investment (FDI) and/or made Overseas Direct Investment (ODI).
· The Census defines Direct Investment as "a core component of cross-border capital flows, where an investor residing in another economy has lasting management interest in an enterprise in the recipient economy, by making an investment that gives control (50% or more equity share) or a significant degree of influence (10% or more equity share) over the management of the enterprise".
· A direct investor may be an individual or group, an incorporated/unincorporated enterprise (public or private) or a group of enterprises, government, trusts, etc.
· Significant changes in cross-border assets or liabilities may result in global imbalances and financial stability issues. Thus, the International Monetary Fund (IMF) has taken efforts to improve the availability and timeliness of cross-border investment data.
Major Highlights
· The census covered 17,642 companies, out of which 16,242 companies had outstanding FDI/ODI in their balance sheet in March 2015. Of these 16,242 firms, 84.2% had only inward FDI, 11.9% had only ODI and 3.9 % had bi-directional direct investment.
· Close to 98% companies that reported inward FDI were unlisted. The Own Fund of Book Value (OFBV) method was advised to them for market valuation. OFBV of equity investment is the share of non-resident equity holding in a company's net worth. This net worth is the sum of paid-up equity capital, participating preference shares, reserves and surplus.
· The market value of FDI stock of the reporting firms in India increased by ₹4,567.1 billion (which includes valuation charges and investment flows) during 2014-15 and was ₹19,629.7 billion in March 2015, of which 94% or ₹19, 629.7 billion was held in equity.
· The ODI stock declined by ₹260.7 billion to ₹5,320.1 billion during this year. Hence, the ratio of outward to inward DI decreased from 37.1 % in March 2014 to 27.1 % in March 2015.
· The top 10 FDI and ODI partners of India, namely Mauritius, USA, UK, Singapore, Germany, Japan, Switzerland, the Netherlands, Republic of Korea and France, accounted for 70.6 % in ODI and 92.9 % in FDI.
· In inward DI, Mauritius had the largest share of investors (21.9 %), followed by the USA (16.9 %) and the UK (15.3 %)
· In ODI, the major destination was Singapore (24.7 %), followed by Mauritius (15.0 %) and the Netherlands (13.0 %).
· DI companies also report their additional financial liabilities and assets separately in the FLA census, termed as 'other investment'. These include claims and liabilities in terms of loans, currency and deposits, trade credit and other payable and receivable accounts with third-party non-resident entities. However, these exclude inter-company debt transactions (borrowing and lending of funds between direct investors and subsidiaries, associates, parent companies, sister companies and branches) that are included under DI.
· These 'other investment' liabilities of reporting firms summed up to ₹12,822 billion at the end of March 2015, and the corresponding overseas assets stood at 33.4 % of these liabilities (which was 35.0 % previous year).
· The Foreign Affiliates Trade Statistics (FATS) measure the commercial presence overseas by selling goods and/or services through foreign affiliates in the local economy. Unlike FDI statistics which include all foreign interests that amount to 10% or more voting power, FATS consist of all affiliates that are foreign-controlled subsidiaries (single direct investor's holding is over 50% of equity).
· Exports summed up to 26.7% of total sales, while imports amounted to 46.7% of total purchase of Indian subsidiaries.
· Aggregate exports of foreign subsidiary firms surged by 15.2% to ₹5,637.4 billion. The major export-oriented sector was Information and Communication Services, in which exports accounted for 75.8 % of total sales.
Conclusion
· A large number of reporting companies in this FLA census are unlisted and thus, the market value of their investment was estimated using the OFBV method.
· Market value of DI by foreign firms in India kept on rising during 2014-15 owing to fresh net investment and gain in valuations.
· Inward FDI increased much faster than ODI growth during the year, which led to a decline in the ODI to FDI ratio at market value.
· The ratio of market value to face value of inward FDI at the aggregate level stood at 52 in March 2015. This ratio was much higher for services sector than the manufacturing sector because of factors like capital intensity, return on capital and future prospects.
· Import share in purchase were widely comparable for Indian subsidiaries abroad and foreign subsidiaries in India. Export share in sales were more for foreign subsidiaries in India than for Indian subsidiaries abroad.
These are the major points to remember in the Census of Foreign Liabilities and Assets. If you can understand these well, you can easily attempt questions pertaining to it.