Are you guys studying for phase II simultaneously??..
Did anyone applied for RBI Grade B pre exam training?
Guys...how you are managing time in exam....I have given IBPS PO..but could not solve more than 50 questions in an hour
& here in RBI Grade-B you have 200 questions & 2 hours?
What are refering for Reasoning?
Any thrade related to FINANCE & MANAGEMENT optional?
when will the admit card be available? And we need to download it from the website? Or it will be posted to our addresses?
GK Update: Entities can apply for Bharat Bill Payment System units: RBI
Dear Readers,
Bill payment and settlement systems in India have been in the news often and can be very important for your upcoming exams. The Bharat Bill Payment System (BBPS) is a new framework introduced by the RBI. Let us understand what the system is, its need, structure and scope, among other pertinent details.
On October 20, 2015, the Reserve Bank of India invited applications for authorisation from banks and non-banks financial institutions, currently engaged in bill payments and interested in operating as Bharat Bill Payment Operating Units (BBPOUs) under the Bharat Bill Payment System (BBPS).
Entities are compulsorily required to apply for approval to the central bank on or before November 20, 2015, under the Payment and Settlement Systems (PSS) Act 2007. As per the RBI notification, those that fail to apply for authorisation but continue to engage in bill payment activities would be deemed as conducting the business in violation of the BBPS guidelines, and may be penalised by the RBI.
What is the BBPS?
The BBPS has been conceived as an authorised payment system, which will help track payments being made in the economy, including cash payments to utilities, schools, and telcom firms, among others.
The need for BBPS
- Citing that over 30,800 bills worth Rs.6223 billion are generated each year across India's top 20 cities, in 2013, the RBI Committee headed by G Padmanabhan suggested a GIRO-based (transfer of payments from bank account to another initiated by the payer) Indian bill payment system.
- The committee felt that though existing systems were safe, they did not enable customers to pay a variety of bills (utility bills, school fees, etc) due to lack of-interoperability in payment processes and access to different modes of electronic payments.
- Hence the need for an "integrated bill payment system that offers interoperable and accessible bill payment services to customers through a network of agents, allows multiple payment modes, and provides instant confirmation of payment."
Structure and scope of BBPS
- As elaborated by the Giro Advisory Group (GAG) chaired by Umesh Bellur, the BBPS would comprise two units with distinct functions-
a) The Bharat Bill Payment Central Unit (BBPCU) will be the single authorised entity operating the BBPS. The RBI has authorised the National Payments Corporation of India as the BBPCU. Besides setting operational and business standards for the system and its participants, NPCI will also carry out clearance and settlement activities.
b) The Bharat Bill Payment Operating Units (BBPOUs) will be a group of authorised operational units. Other participants include, agents, payment gateways, banks, billers, service providers, authorised prepaid payment instrument issuers, etc.
- BBPS would facilitate collection of repetitive (monthly, bi-monthly, quarterly, etc) payments to utility service providers. The scope would steadily be extended to include services facilitating the collection of other types of repetitive payments, including school/university fees, municipal taxes/payments etc.
Eligibility criteria for BBPOUs
- The entity seeking approval should have a net worth of at least Rs.100 crore as per the last audited balance sheet, which has to be maintained at all times.
- The entity should have experience in the field of bill collection/services to billers, and relevant know-how in transaction processing for a minimum period of one year.
- In case of Foreign Direct Investment (FDI) in the applicant entity, approval from the competent authority as required by the Department of Industrial Policy and Promotion (DIPP) under the consolidated FDI policy and regulations framed under the Foreign Exchange Management Act (FEMA), have to be submitted.
Role of BBPOUs include:
- Getting billers and other operating agents on board.
- Develop infrastructure (applications) as per standards set by the BBPCU.
- As settlement process is integral to an interoperable payment system, under the BBPS, the BBPOUs' agents may receive payments for various billers. Both ON-US transactions (agent who has collected the payment and the biller who has to be paid, are part of the same BBPOU) and OFF-US transactions (agent and the biller belong to different BBPOUs).
- Ensure safety and confidentiality of transactions, verify biller information, and disclose pertinent information to customers like fees for use of payment facility.
- Redress customer grievances and settle disputes for billers/agents/end-customers, as per set procedures.
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hey friends, new here, please guide me from where I should start???
guys any idea what will be asked in english descriptive...will it be just essay and letter lyk sbi as we have to type n its jst for 1:30 hrs
guys any idea what happened to the petition filed by ppl regarding educational criteria..is dere any chance of exam getting postponed??
Friends, I have small query.... What Kind of questions are usually asked in GK section of Phase 1. I mean is it related more to economy, banking and finance or in general?
which is the best book for finance and management when you have no background on both
guys..need to ask one thing..
has anyone bought phase-2 course costing 4499.00 from
http://preper.learnyst.com/ ? how is it content wise?
I know it won't be sufficient but at least it will have basic content for all the topics at one place..
About India-Africa Forum Summit IAFS is an official platform for the African-Indian relations. It is held every 3 years and the venue is selected on rotational basis from both sides.
Agenda of the summit: It covers various fields including agricultural sector, trade, industry and investment, peace and security, promotion of good governance and civil society, information and communication technology (ICT) etc.
First Summit: It was held in 2008 in New Delhi and was represented by 14 countries of Africa chosen by the African Union.
Second Summit: It was held at Addis Ababa, Ethiopia and 15 African countries had participated in it.
Third Summit: Present summit was earlier scheduled in December 2014 in New Delhi, but it was postponed to October 2015 due to deadly Ebola outbreak in few western African countries.
About India-Africa Forum Summit IAFS is an official platform for the African-Indian relations. It is held every 3 years and the venue is selected on rotational basis from both sides.
Agenda of the summit: It covers various fields including agricultural sector, trade, industry and investment, peace and security, promotion of good governance and civil society, information and communication technology (ICT) etc.
First Summit: It was held in 2008 in New Delhi and was represented by 14 countries of Africa chosen by the African Union.
Second Summit: It was held at Addis Ababa, Ethiopia and 15 African countries had participated in it.
Third Summit: Present summit was earlier scheduled in December 2014 in New Delhi, but it was postponed to October 2015 due to deadly Ebola outbreak in few western African countries.
DONT GET CONFUSED ON OTHER MATERIALS..
THE FOLLOWING IS THE PRESCRIBED.
Suggested reference material:Growth and Development - Measurement of growth: National Income and per capita income - Poverty Alleviation and Employment Generation in India - Sustainable Development and Environmental issues. Economic Reforms in India - Industrial and Labour Policy - Monetary and Fiscal Policy - Privatization - Role of Economic Planning. Globalization - Opening up of the Indian Economy - Balance of Payments, Export-Import Policy - International Economic Institutions - IMF and World Bank - WTO - Regional Economic Co-operation. Social Structure in India - Multiculturalism - Demographic Trends - Urbanization and Migration - Gender Issues - Social Justice : Positive Discrimination in favor of the under privileged - Social Movements - Indian Political System - Human Development - Social Sectors in India, Health and Education.Economic and social Issues:
Books:
- Indian Economy: Uma Kapila.(Series of Books)
- Indian Economy: Mishra Puri. (Latest Edition)
- Growth And Development: Devraj Ray
- Sociology: C.N. Shankar Rao
News Papers:
- Economic Times
- Hindu
- Business Standard
Weekly/Monthly Magazines/Bulletins /Reports:
- Economic and Political Weekly
- Southern Economist
- Yojana
- Business India
- RBI Bulletins
Reports:
- World Development Report
- Economic Survey of India
3. Finance and Management:
(A) Finance
(a) Financial System
- Regulators of Banks and Financial Institutions
- Reserve Bank of India- functions and conduct of monetary policy, Banking System in India, Financial Institutions - SIDBI, EXIM, NABARD, NHB, etc.
(b) Financial Markets
Primary and Secondary Markets (Forex, Money, Bond, Equity, etc.), functions, instruments, recent developments.
(c) General Topics
- Risk Management in Banking Sector
- Basics of Derivatives: Forward, Futures and Swap
- Changing Landscape of Banking sector
- Recent Developments in the Financial Sector, Portfolio Investment, Public Sector Reforms, Disinvestments
- Financial Inclusion- use of technology
- Alternate source of finance, private and social cost-benefit, Public-Private Partnership
- Corporate Governance in Banking Sector, role of e-governance in addressing the issues of corruption and inefficiency in the government sector.
- The Union Budget - Direct and Indirect taxes; Non-tax sources of Revenue, GST, Thirteenth Finance Commission and GST, Finance Commission, Fiscal Policy, Fiscal Responsibility and Budget Management Act (FRBM),
- Inflation: Definition, trends, estimates, consequences, and remedies (control): WPI, CPI - components and trends.
Suggested reference material:
- An introduction to Economics - A W Stonier and D C Hauge
- Monetary Theory and Public Policy - Kenneth Kurihara
- Indian Economy - Mishra and Puri
- Indian Economy - R. Dutt and KPM Sundaram
- Economic Growth and Development - Mayer and Baldwin
- Major economic newspapers and Economic and Political Weekly
- Public Finance - K K Andley and Sundaram
- Financial Management - Prasanna Chandra
(B) Management:
Management: its nature and scope; The Management Processes; Planning, Organisation, Staffing, Directing and Controlling; The Role of a Manager in an Organisation. Leadership: The Tasks of a Leader; Leadership Styles; Leadership Theories; A successful Leader versus an effective Leader. Human Resource Development: Concept of HRD; Goals of HRD; Performance Appraisal - Potential appraisal and development - Feedback and Performance Counselling - Career Planning - Training and Development - Rewards - Employee Welfare. Motivation, Morale and Incentives: Theories of Motivation; How Managers Motivate; Concept of Morale; Factors determining morale; Role of Incentives in Building up Morale. Communication: Steps in the Communication Process; Communication Channels; Oral versus Written Communication; Verbal versus non-verbal Communication; upward, downward and lateral communication; Barriers to Communication, Role of Information Technology. Corporate Governance: Factors affecting Corporate Governance; Mechanisms of Corporate Governance.
The questions on this section will be basic in nature.
4. Economics
(a) Microeconomics
- Consumers behaviour and firms; value of resources like land, labour and capital
- Markets-monopoly, perfect and imperfect competition
- General Equilibrium of price and activity, economic welfare and case for regulatory / policy interventions
(b) Macroeconomics
- Measuring national income and its components; basic macro identities and idea of macro-balance; Goods and Financial Market Equilibrium (IS-LM Framework)
- Major macro-economic school of thoughts; Classical, Keynesian and Monetarist
- Consumption and Investment demand; demand management policies and their effectiveness
- Money demand and supply; monetary and fiscal policies
(c) International Economics
- Benefit of International trade; comparative and absolute advantage; effect of International trade on resources allocation and factor price equalisation; non-conventional trade barriers, optimum currency areas and effect of customs union
- International finance and exchange rates issues in an open economy, benefits and costs of an inter-connected financial markets; evolution of international financial architecture
(d) Public Economics
- Public Goods, instruments of financing, government tax and non-tax revenue
- Direct and Indirect taxes, efficiency costs of commodity taxes, income taxation, labour supply and savings, corporate taxation and corporate behaviour
- Government expenditure policy-various components, deficit financing and its impact on the economy, government debt and crowding out of private capital
(e) India's Economy and Development Issues
- India's experimentations with planned development models and the outcomes, structural issues-savings and investment, demography, urbanization, productivity, etc., issues with poverty, inequality and employment
- Agriculture- policy and developments, manufacturing competitiveness; what is holding India back, role of public sector enterprises in the key economic sectors, India's resilient service sector; trade, tourism, communication, ITES, etc.
- Financial sector regulation and reforms-banking, insurance and capital market, fiscal policy and the changing priorities of government, emergence of monetary policy and its new role
Suggested reference material:
- Microeconomics, Student Value Edition (8th edition) by Robert Pindyck, Daniel Rubinfeld
- Intermediate Microeconomics : A modern Approach (8th edition) by Hal R. Varian
- Macroeconomics (2011) by Rudiger Dornbusch, Stanley Fisher, Richard Starz
- Macroeconomics by N. Gregory Mankiw, (Seventh Edition),
- International Economics (2013) by Domimick Salvatore
- International Economics (2011) by Paul Krugman and Maurics Obstfeld
- International Finance and Open Economy Macroeconomics (1993) by Francisco L. Rivera- Batiz, Luis A. Rivera- Batiz
- Public Finance in Theory and Practice (1989) by Richard Abel Musgrave and Peggy B. Musgrave
- The Concise Oxford Companion to Economics in India, Edited by Kaushik Basu & Annemie Maertens
- Indian Economy since Independence (2014) edited by Uma Kapila
- Indian Economy : Performance and Policies (2015) edited by Uma Kapila
- India Development Report (2015) edited by S. Mahendra Dev
5. Statistics:
(1) Probability: Random variables, Theorems of probability, Conditional probability, Independent events, Bayes' theorem and its application, expectation, moments, distribution functions, Binomial, Poisson, Geometric, Exponential, Negative binomial, Hyper geometric, Cauchy, Laplace, Logistic, Pareto, Log-normal, Beta and Gamma distributions, Weibull, Uniform, Bivariate normal distribution and truncated distributions, Markov's inequality, Chebyshev's inequality, Cauchy-Schwarz inequality, Laws of large numbers, Central limit theorems and applications.
(2) Statistical Methods: Population and sample, Measures of central tendencies Parameter and Statistic, Correlation and Regression, intra-class correlation, multiple and partial correlations, Spearman's coefficient of rank correlation, Z, chi-square, t and F statistics and their properties and applications, Large sample distributions, Variance stabilizing transformations, sin inverse, square root, logarithmic and z transformation.
(3) Linear Models: General Linear models, BLUE, method of least squares, Gauss-Markoff theorem, estimation of error variance, Simple and Multiple linear regression models, Important assumptions and treatments in case of assumption's violation, Regression diagnostics, Analysis of variance in one, two and three-way classifications, Analysis of Covariance in one and two-way classifications.
(4) Statistical Inference: Properties of estimators, MVUE, Rao-Blackwell and Lehmann-Scheffe theorems, Cramer-Rao inequality, methods of estimation, properties of maximum likelihood and other estimators, confidence intervals. Simple and composite hypotheses, Type I and Type II errors, size and power of a test, Most Powerful and Uniformly Most Powerful tests, Neyman-Pearson lemma, Likelihood Ratio test and its properties and applications. SPRT, OC and ASN functions, Tests of goodness of fit. Parametric vs. Non-parametric Test, Frequently-used non-parametric inferential statistical methods.
(5) Multivariate Analysis: Bivariate and Multivariate normal distribution, marginal and conditional distribution, Estimation of mean vector and covariance matrix, Asymptotic properties of estimators, Sampling distribution of X and S, Mahalanobis D2 and Hotelling's T2 and its applications.
(6) Optimisation Techniques and Statistical Quality Control: Linear Programming, Transportation Problem, Assignment Problem, Basics of Simulation, Quality control, Process Control and Product Control, control charts, Acceptance Sampling plan, single and double sampling plans (ASN, OC, ATI, LTPD, AOQL).
(7) Sample Surveys and Design of Experiments: Simple and Stratified random sampling, ratio and regression methods of estimation, Double sampling, Systematic, Cluster, two stage and PPS sampling. Sampling and Non-sampling errors. Principles of Design of Experiments, Completely Randomized Design, Randomized Block Design, Latin Square Design, missing plot technique, 22 and 23 factorial designs, Split-Plot Design and Balanced Incomplete Block Design, Fractional factorial experiments
(8) Applied Economic Statistics: Time Series vs. cross sectional data, Multiplicative and additive models, Auto-correlation, Partial autocorrelation, Smoothing techniques, Seasonal and cyclical adjustment. Price and Quantity Index numbers, Types of index numbers and their properties. Chain and Fixed base index numbers, Cost of Living Index numbers, Wholesale Price Index, Consumer Price Index, Index of Industrial Production, Gini's coefficient, Lorenz curves, Application of Pareto and Lognormal as income distributions.
(9) Vital Statistics: Sources of vital statistics compilation, Errors in census and registration data, Measurement of population, rate and ratio of vital events, Stationary and Stable population, Life Tables, Measures of Fertility, Mortality and Reproduction, Crude rates of natural growth, Pearl's Vital Index.
(10) Numerical Analysis: Principles of floating point computations and rounding errors, Linear Equations factorization methods, pivoting and scaling, residual error correction method, Iterative methods, Jacobi, Gauss-Seidel methods, Newton and Newton like methods, unconstrained optimization, Lagrange interpolation techniques, Cubic Splines, Error estimates, Polynomials and least squares approximation; Integration by interpolation, adaptive quadratures and Gauss methods.
(11) Basic Computer Applications: Functional organization of computers, algorithms, basic programming concepts, Program testing and debugging, Subprograms and Subroutines, Sorting/searching methods, Database Management Systems, Software Engineering, Basic of Networking, Internet Technologies, Web and HTML, Distributed systems, Programming using C, MINITAB and FORTRAN.
Suggested reference material:
- Atkinson, K.E. (1989): An Introduction to Numerical Analysis, Wiley.
- Bhat, B.R. (2007): Modern Probability Theory, New Age International.
- Cochran, William G. (1977): Sampling Techniques. John Wiley and Sons, New York
- Das, M.N. and N. C. Giri (1986): Design and Analysis of Experiments. Wiley Eastern Ltd.
- Draper, N.R. and H. Smith (1998): Applied Regression Analysis, John Wiley & Sons.
- Goon, A.M., M. K. Gupta and B. Dasgupta (2001): Fundamentals of Statistics. (2 Vols.), World Press, Kolkata.
- Gibbons, J.D. & S. Chakrabarti (2007): Non parametric Statistical Inference, Chapman and Hall.
- Gupta, S.C. and V. K. Kapoor (2007): Fundamentals of Mathematical Statistics, Sultan Chand and Sons.
- Gupta, S.C. and V. K. Kapoor (2008): Fundamentals of Applied Statistics, Sultan Chand and Sons.
- Hollander Myles and Douglas A. Wolfe (2006): Non Parametric Statistical method, Wiley.
- Kshirsagar, A.M. (1983): A Course in Linear Models Marcel Dekker, New York.
- Montgomery, D. C. (2008): Design and Analysis of Experiments, John Wiley and Sons.
- Montgomery, D.C., E. A. Peck and G. G. Vining(2006): Introduction to Linear Regression Analysis, John Wiley and Sons.
- Murthy, M.N. (1967): Sampling Theory and Methods. Statistical Publishing Society, Kolkata.
- Rajaraman, V. (2010): Fundamentals of Computers, Prentice-Hall India.
- Rohatgi, V. K. and A. K. Md. Ehsanes Saleh (2009): An Introduction to Probability and Statistics, John Wiley and Sons.
- Saxena, H.C. (2005): Finite Differences and Numerical Analysis, S. Chand and Co.
- Silberschatz, A., H. F. Korth and S. Sudarshan (1997): Database System Concepts, McGraw-Hill.
- Sinha, P.K. (2010): Computer Fundamentals, University Science Press.
- Sukhatme, P.V., B. V. Sukhatme, S. Sukhatme and C. Asok (1984): Sampling Theory of Surveys with Applications, Iowa State University Press, Iowa, USA.
- Swaroop, K., P. K. Gupta and M. M. Singh (1985): Operations Research, Sultan Chand and Sons.
- Taha, H.A. (1982). Operations Research: An Introduction, Macmillan Publishing Company.
hi..
can any one of u please give a rough idea as in how many people will clear stage 1..??
Though i hv appeared for competition exams before.. but never appeared for an online examination. Is there any demo of online exam available on the internet which can really give an exact replica of an online test. Thanks and regards.
guys my problem is that i m weak in reasoning and didn't get ibps po pre and sbi pre on the other hand i cleared both the cut offs by scoring good marks in quant and English please suggest me how to improve my reasoning i left MNC job yesterday and want a decent job in govt sector and RBI would be my first battle in this journey .
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Latest Development: Supreme Court Lawyer, Prashant Bhushan is ready to accept RBI Eligibility Case. Candidates are filing Writ Petition in Supreme Court against the Reserve Bank of India.
Guys... Facing issue with the quant the and DI section . I am usually keeping this section at the end with around 20 mins but spending lot of time in solving DI . Can someone please share the strategy to maximize the score in this section
Hi. I am from non-economic background. Please guide me as to which books to refer for Finance and Management portions. RBI has given a large list of books for finance portion and none for management optional. Which one is the best and for which portions in that (for finance). Please guide me.