Marketing Quick Notes For SBI Exam

Dear readers, Here we are presenting you some quick notes on Marketing which will be helpful in the upcoming SBI PO and SBI Clerk exams.


Quick Notes:

1. Marketing  is the process of communicating the value of a product or service to customers, for the purpose of selling that product or service.

2. Mass Marketing means marketing the mass produced goods.

3. Strategic marketing means decision making process that involves the analysis of the internal capabilities and external environment of a company.

4. Stimulation marketing means there is no demand for the product and people are not interested to purchase the product hence special offers are given to stimulate the people.

5. Synchrome marketing means irregular demand.

6. De-marketing means the demand for the product exceeds the supply.

7. Producer goods means goods which are priced high and required a few to produce other goods in the industry ex: lathe, motor etc

8. Consumer goods are required in large number and directly used by the consumer.

9. Derived goods means the demand for the product is derived from the demand of other products ex: the selling of stabilizer depends upon the selling of TV’s and refrigerator.

10. The client of an advertising agency is called Customer.

11. CRM means Customer Relationship Management.

12. Segmentation of consumer market is based on consumer characteristics and consumer responses.

13. B2B means – business to business

14. Database marketing is direct form of marketing.

15. A Buyers Market means supply exceeds demands

16. Niche market means a specified market for the target group.

17. HNI marketing means High Networth Individual.

18. Relationship marketing is useful for cross selling of products.

19. Good public relations indicate

  • Improved marketing skills
  • Improved brand image
  • Improved customer service
  • 20. Marketing functions includes

Designing new products

  • Advertisements
  • Publicity
  • After sales service

21. Effective selling skills depends on

  • Effective lead generation
  • Sales call planning
  • Territory allocation
  • Effective communication skills

22. Marketing channels mean

  • Delivery period
  • Delivery outlets
  • Delivery time
  • Delivery place

23. Marketing information means

  • Knowledge level of marketing staffs
  • Information about marketing staff
  • Information regarding share market
  • Knowledge of related markets

24. A DSA means Direct Selling Agent.

25. Service marketing resorted to in Insurance companies and banks.

26. Service marketing is same as

  • Internet marketing
  • Telemarketing
  • Internal marketing
  • Relationship marketing

27. Market segmentation helps to determine target groups.

28. The seven P’s of marketing

  • Product
  • Price
  • Place
  • Promoting
  • Process
  • People
  • Physical Evidence

29. SWOT – Strengths Weakness Opportunities Threats.

30. Standard marketing practices include lowering the selling price.

31. USP of a product means Unique Selling Proposition.
“Rosser Reeves” coined the term USP.

32. MBO means Management by Objectives (“Peter Drucker”)

33. AIDA – Attention Interest Desire Action

34. BTL – Below the line

35. Right-time marketing is an approach to marketing which selects an appropriate time and place for the delivery of a marketing message.

36. A group of related products manufactured by a single company is called product line.

37. MDSS – Marketing Decision Support System.

38. Target group for the marketing of Internet Banking – All the computer educated customers.

39. Innovation means new ideas and product designing.

40. Service after sale is not the function of marketing staff.

41. A good seller should have the following quality/qualities

  • Devotion to the work
  • Sympathy
  • Submissive

42. Planned cost service means – additional profit on same cost.

43. A non-traditional, low-cost, flexible and highly effective marketing is termed as Gorilla marketing.

44. The aim of successful marketing is to increase the outlet of the seller.

45. Low end market means a market for lower price products.

46. The strategy used to charge different prices for the same product is called price discrimination.

47. The system designed to support marketing decision making is – marketing information system.

48. Conversion in marketing means converting suspect into prospect.

49. MC means – Marginal Cost.

50. Personalized marketing (also called personalization, and sometimes called one-to-one marketing) is an extreme form of database marketing. Personalization tries to make a unique product offered for each customer.

DAILY GK UPDATE - 24th June

1.    UN award for govt’s Mobile Seva initiative

i. An initiative conceptualised by Indian government’s Department of Electronics and Information Technology to enable delivery of public services electronically through the mobile platform has been awarded a United Nations public service award.
ii. Mobile Seva, a nationwide initiative conceptualised, funded and implemented by the Department of Electronics and Information Technology (DeitY), is among the second-place winners of the 2014 UN Public Service Awards, along with Bahrain, Brazil, Cameroon, Republic of Korea and Spain.
iii. The vision of Mobile Seva is to mainstream mobile governance in India as a new paradigm for e-delivery of public services through mobile devices. It leverages the massive penetration of mobile phones in India to substantially enhance access to electronic services, especially in the rural areas.
iv. The main objectives of the initiative are to be a one-stop solution for all mobile-based public service delivery needs through mobile-based channels, including SMS, voice/Integrated Voice Response System and mobile applications, a statement said.

Note: i. The first place winners are Austria, Bahrain, Brazil, Morocco, Oman, Republic of Korea, Singapore, South Africa, Thailand, Turkey, Uruguay.
ii. Winners from 14 countries will be honoured for their innovative projects in fighting poverty and promoting sustainable development at a ceremony on June 26 in Seoul.

2.    RBI directs banking bodies to cooperate with SIT on black money
i. The Reserve Bank of India has directed all banks and financial institutions to provide information and documents sought by the Special Investigation Team, SIT set up to unearth black money.
ii. RBI issued a notification to this effect yesterday. The SIT under the chairmanship of former Justice M B Shah was constituted by the Narendra Modi-led government on its first day in office.

3.    General Budget to be presented on 10th July & Rail Budget on 8th

i. The Budget session of Parliament will begin from 7th of the next month. The session spread over five weeks will come to end on 14th of August.
ii. The decision was taken at a meeting of Cabinet Committee on Parliamentary Affairs chaired by Home Minister Rajnath Singh in New Delhi this morning.
iii. Official sources said in New Delhi that the General Budget will be presented on 10th and Rail Budget on 8th. The sources said, Economic Survey will be tabled on 9th of July.

4.    Import ban on milk items from China extended till June 2015
i. The government has again extended the ban on imports of milk and its products from China for one more year till June 2015.
ii. “Prohibition on import of milk and milk products (including chocolates and chocolate products and candies/ confectionery/ food preparations with milk or milk solids as an ingredient) from China is extended for one more year, i.e., till 23.6.2015 or until further orders, whichever is earlier,” Directorate General of Foreign Trade (DGFT) said in a notification.
iii. The ban, which expired on June 23, is extended every year.
iv. India had first imposed the ban in September 2008 due to presence of melamine, used for making plastics and fertiliser.
v. India, however, does not import milk products from China, but as a preventive measure, it has imposed the ban.

5.    BRT system will save 27,000 lives in India: World Bank
i. World Bank President Jim Young Kim has said India can save more than 27,000 lives and create over 128,000 jobs if it builds 1,000 kilometres of new bus rapid transit (BRT) lanes in the next 20 years.
ii. “If India built 1,000 kilometres of new, bus rapid transit lanes, over 20 years, that could save more than 27,000 lives by reducing air pollution and accidents and create more than 128,000 jobs,” Jim Young Kim said.
iii. Speaking at the release of a report “Climate-Smart Development”, according to which $3-4 billion is needed to develop 1,000 km of BRT corridors in about 20 cities across India within 6-12 years, Mr. Jim said India could also reduce “greenhouse gas emissions by about 42 million tons”.
iv. The analysis estimates that investment of $3-4 billion would be needed to develop 1,000 km of BRT corridors in about 20 cities across India within 6-12 years, the bank said.

6.    Gujarat ranks 5th in investments attracted by manufacturing sector: Assocham
i. With about nine per cent share in total investments attracted by the manufacturing sector in the country as on March 31, 2013, Gujarat ranked fifth among other states.
ii. This, according to the trade body, Associated Chambers of Commerce and Industry of India (Assocham), indicated the state’s emergence as a prominent manufacturing investment hub.
iii. Out of the total outstanding investments worth over Rs. 122 lakh crore attracted by various sectors across the country as of March 2013, manufacturing accounted for a about 25 per cent share with over Rs. 30 lakh crore worth of investments.

State-wise details
“Odisha accounted for the highest share of over 18 per cent in total investments attracted by the manufacturing sector across India as of March 2013 followed by Karnataka (over 14 per cent share), Jharkhand (over 13 per cent share), Andhra Pradesh (about 10 per cent share) and Gujarat (over nine per cent share) amid top five states with maximum share in investments attracted by manufacturing sector,” said D.S. Rawat, national secretary general, Assocham.

7.    Delhi University Vice-Chancellor resigns

i. Delhi University Vice-Chancellor Dinesh Singh tendered his resignation on Tuesday afternoon, according to news reports.
ii. His resignation will go to the Vice President of India, who is also the Chancellor of the varsity.
iii. On Monday, after the day-long confusion and chaos due to the ongoing tussle between the University Grants Commission (UGC) and Delhi University (DU) over the four-year undergraduate programme (FYUP), admissions to colleges for this academic session had been deferred.

8.    Air India joins Star Alliance

i. In a significant move, Air India has formally become part of the global airlines’ grouping, Star Alliance, which would enable seamless travel to over 1,300 destinations for the national carrier’s passengers.
ii. Ending a seven-year-long wait, the Star Alliance Chief Executive Board (CEB), at its meeting in London on Monday, gave an endorsement vote to induct Air India into the fold.
iii. “We are happy to note that Air India has become part of the Star Alliance. This is one of the biggest alliances in the world”, Civil Aviation Minister Ashok Gajapathi Raju told reporters here on Tuesday.
iv. Air India’s revenues may increase by 4-5 per cent by joining the Alliance, he said. With this, Air India becomes the first Indian carrier to join a global alliance, the largest one now having 27 member airlines in its fold.

9.    Ratan Tata received honorary doctorate from York University
i. Former TATA Group Chairman Ratan Tata on 21 June 2014 received an honorary doctor of laws degree from York University in Toronto, Canada. The award was given for his achievements in promoting innovations, exemplary leadership and corporate social responsibility.
ii. The honour was conferred at the 2014 spring convocation of York University's Schulich School of Business by Chancellor of the varsity Gregory Sorbara.
iii. The chancellor of the University Gregory Sorbara praised Ratan Tata for making his companies a Global Power and described him as a Great Architect of Modern India.

10.  Jitu Rai became first Indian shooter to win three medals in successive ISSF Shooting World C
i. Jitu Rai on 19 June 2014 became the first Indian to win three medals in successive ISSF Shooting World Cup.
ii. Also, by winning his first-ever Gold medal and One Silver at the ongoing ISSF World Cup in Maribor, Slovenia, he became the first Indian shooter to win two medals at the same World Cup.
iii. He won Gold medal with 200.8 points on 19 June 2014. The Silver medal was won by Spain’s Pablo Carrera and the Bronze medal was won by Russia’s Anton Gourianov.

11.  Myanmar’s first site, Ancient Pyu Cities, inscribed on the UNESCO World Heritage List
i. Ancient Pyu Cities on 22 June 2014 became the first site from Myanmar to be inscribed on the UNESCO’s World Heritage Site List. The Ancient Pyu Cities include three cities Halin, Beikthano and Sri Ksetra.
ii. The decision to include Myanmar’s first site on World Heritage list was taken at the 38th session of the World Heritage Committee held in Doha, Qatar.
iii. Three cities Halin, Beikthano and Sri Ksetra are located in Burma’s central Dry Zone and featured the walled remains of sites built by the Pyu dynasty.

About Ancient cities
i. The Cities are located in vast irrigated landscapes in the dry zone of the Ayeyarwady (Irrawaddy) River basin. The three cities are partly excavated archaeological sites.
ii. Remains include excavated palace citadels, burial grounds and early industrial production sites, as well as monumental brick Buddhist stupas, partly standing walls and water management features – some still in use -  that underpinned the organized intensive agriculture.

12.  UK firm honours Sachin Tendulkar with rare coin

i. Britain's premium luxury goods brand East India Company has issued an exclusive legal tender gold coin worth 12,000 pound sterling in honour of Indian cricket legend Sachin Tendulkar.
ii. The rare coin has been issued in honour of Tendulkar's remarkable career spanning 24 years.
iii. "Only 210 gold coins, each weighing precisely 200g, are being issued to pay tribute to Tendulkar at a global level. Only very few will ever see this coin in the flesh, making them exceptionally rare and precious amongst thousands of fans who yearn to own a piece of the superstar's legacy," the London-based firm said in a statement.
iv. The issue of a 'legal tender' coin is an official mark of distinction given to individuals who have accomplished great achievements in human history.
v. The design of the coin has been handcrafted in great detail by one of the world's most renowned coin designers Joaquin Jimenez, currently the Chief Engraver at Monnaie de Paris.
vi. The canvas of the coin shows the latitude lines of the globe modelled in cricket stitching to represent the international stage of cricket.
vii. The Gateway of India features to denote Tendulkar's home city of Mumbai, where he started and completed his illustrious career.

13.  N Srinivasan unanimously elected as chief of TNCA

i. BCCI's president-in-exile N Srinivasan, was today unanimously elected as the chief of the Tamil Nadu Cricket Association (TNCA) for the 14th consecutive year.
ii. As has been the case for over 10 years, all the sitting office bearers and executive committee members were elected unopposed during the 84th annual general body meeting of the TNCA.

RBI Recruitment of Assistants / Office Attendants 2014 (Sports Quota)



Reserve Bank of India (RBI) is inviting applications from eligible Sports-persons for filling up the posts of “Assistants / Office Attendants" in various offices of the bank for the year 2014. Your application should reach the Bank’s Office on or before 21st July 2014. 

Name of the Posts : RBI Assistants / Office Attendants under Sports Quota
Total Number of Vacancies :  53 Posts (Check below notification for Centre wise and sport wise vacancy details)

Eligibility Criteria :
Age :  18 to 26 years (5 Years age relaxation for SC / ST and 3 years age relaxation for OBC)

Sports Qualification : Should have represented a State or the country in the National or international competition or the District in State level event or their University in Inter University Tournaments conducted by Inter university Board or a State Schools Team in the National Sports / Games for Schools conducted by the All India Schools Game Federation Performance of candidates in the previous two years will be given due importance. 

At the time of appointment the candidate must be an active sportsperson and should be fit enough to take part in future tournaments as well Education :

For the post of "Assistants" : At least a Bachelor’s Degree in any discipline. 
For the post of "Office Attendants" : At least 10th pass

Application Fee :
Rs. 100/- (No application fee for SC/ST Candidates)


Click here to View the Notice.

Canara Bank Released Withheld Candidates List Who Provisionally Selected for the post of Probationary Officers


Dear candidates, Canara Bank has issued the list of some withheld candidates who have been processed and Provisionally Selected for the post of Probationary Officers in JMG Scale-I.

Note:The candidates with the Registration Numbers 1240014820, 1240207637, 1240228283, 1240274493, 1240278563, 1240314581, 1240684015, 1240842072, 1241346017 & 1241373644 are found not eligible.
 
 
  • We wish all the candidates Good Luck!!

SSC CGL 2013 Re- Exam Date Announced


Dear candidates, SSC has issued a notice regarding the  re-examination of SSC CGL 2013. Exam  to be held on 20-July-2014.


Note: The candidates who have not appeared  in the re-examination held on 27.04.2014 at seven examination centres. i.e. Delhi, Jaipur and Dehradun in Northern Region; Allahabad, Varanasi (in place of Lucknow) and Patna in Central Region and Chandigarh (in place of Shimla) in North-Western Region, have to be appeared for the SSC CGL 2013 re-examination on
 20-July-2014.


SBI 2014: Computer Quiz


Dear readers, here we are posting some Computer Questions for the upcoming SBI PO-2014 and SBI Clerk-2014 exam.

Q1. The process of a computer receiving information from a server on the Internet is known as—
(A) pulling
(B) pushing
(C) downloading
(D) transferring
(E) Uploading

Q2. Which part of the computer helps to store information ?
(A) Disk drive
(B) Keyboard
(C) Monitor
(D) Printer

Q3. ………………is the process of carrying out commands.
(A) Fetching
(B) Storing
(C) Executing
(D) Decoding
(E) None of these

Q4. The rectangular area of the screen that displays a program, data, and/or information is a—
(A) Title Bar
(B) Button
(C) Dialog Box
(D) Window

Q5. The Internet is controlled by -
A) the U.S. government
B) IBM, Intel, and Microsoft
C) no one in particular
D) United Nations

Q6. Entering and editing text can be done most efficiently using a:
A) spreadsheet
B) desktop publishing program
C) typewriter
D) word processing program

Q7. To have a page number and chapter title appear at the bottom of every page, create a:
A) header
B) footer
C) footnote
D) heading at the bottom of the page.

Q8. What is 'C' in the word 'CUI' -
A) Certificate
B) certified
C) character
D) country

Q9. Which one of the following is not a Web Browser?
A) Internet Explorer
B) Mozila Firefox
C) Android OS
D) Google Chrome

Q10. Which of the following is not an example of secondary storage device?
A) Flash Memory
B) RAM
C) HDD
D) CD-RW

ANSWERS:
1. C     2. A      3. C     4. D     5. A     6. D     7. B     8. C     9. C     10. B

SBI PO: Essay on "The El-nino effect and agriculture in India."


Hello Readers,
In view of the upcoming SBI PO Exam 2014, here we are presenting to you an essay on "The El-nino effect and agriculture in India" Hope you like the post!



INTRODUCTION: EL NINO
EL NINO a Spanish word meaning "Little Boy" is a weather phenomenon that leads to increase in sea surface temperature above normal by 0.5°C and heating up of water off the western coast of South America which in turn change the wind pattern in central-eastern equatorial pacific and trigger floods and droughts in different parts of the world. El Nino re-emerges after a gap of 3 to 5 years in central and east Pacific Ocean and remains in effect on an average of 12 months to 2 years.

SYMPTOMS OF EL NINO EFFECT:
  • Weakening of trade winds allowing warm water of western pacific towards east.
  • Increase in temperature near Peru and Ecuador due to spreading of warm water from western pacific towards eastern pacific.
  • Shift of rainfall from tropical rain forest of Indonesia to deserts of Peru.
  • Drought in western pacific zone and floods at the coast off the eastern pacific.
  • Reduced upwelling of nutrient rich cold water off the west coast of South America


AGRICULTURE IN INDIA:
Since Independence, India largely depends on its agricultural production which accounts for 16.6% of GDP in 2009 and constitute about 50% of total work force and rightly India ranks second worldwide in agriculture output.

In the era of globalization where secondary and tertiary sectors are given priority, the fact cannot be overruled that many industries depends on raw material output of farms such as sugar, food processing, cotton and jute. Agricultural products also forms vital component for foreign exchange earnings for India and products includes jute, cotton, coffee, spices, tobacco, sugar, oil, cashew etc are foreign earning products for India. During the year 2013-2014, India earned $ 253.51 million from export of processed and value added agricultural products.

The above data shows that inspite of shift of economy towards industrial era, agriculture still forms important part of India's growth and development.

EL NINO EFFECT: IMPACT ON AGRICULTURE IN INDIA:
Like other parts of world, India also becomes victim of El Nino which affects overall production and growth of agricultural sector of India. Below are the salient points in support of impact of El Nino:

  • Poor Monsoon in India's - Year 2014 an El Nino year, as per the atmospheric and meteorological institutions, will see less agricultural production in India which is largely depends on Monsoon rain. The diversion of moist winds from Indian Ocean towards the eastern coast of South America will be the reason of poor Monsoon this year.
  • Drought conditions - El Nino may cause droughts in India but not necessarily. Historical data shows that about 65 % of El Nino year have brought below normal rainfall in India which leads to draught as was faced in year 2009.
  • Impact on GDP - It is expected that there will be 5% deficit in rainfall due to El Nino effect which in turn will have negative bearing upto 1.75% in fiscal year 2014-2015. Due to less rain food prices will rise and leads to inflation which will affect the GDP by 0.35% during fiscal year 2014-2015.
  • Effect on Sugar cane production - India accounts the largest area under cultivation of sugar cane in the world and second largest producer of sugar cane in the world. Poor monsoon will surely effect the sugar cane productions because sugar cane can grow where plenty of water supplies are available and in some states like UP, Bihar irrigation facilities are not of high standards to support the production if there is no or less rainfall.
  • Impact on crop - India is the second largest producer of rice and wheat in the world. El Nino will certainly affect the production of rice, wheat, oilseeds and maize in India. In southern parts of India, El Nino has negative impact on production of crops such as pearl millet, rice, food grains and crops like coaster, pigeon pea, Rabi crops remains unaffected by El Nino.

CONCLUSION
From the above picture, one can say that El Nino is a natural calamity which is beyond the control of human beings and affect not only agriculture but overall economy of the country. But El Nino has some benefits also in terms of losing bumper crop lying with government in warehouses, particularly in case of India. Government can liquidate its piled tons of rice and wheat during El Nino season which will help in fighting food inflation. There are other remedial actions available to face El Nino if we are ready in advance, such as:
  • Identifying the areas which will be affected and help farmers to understand which crop to grow during this season.
  • High quality seeds of alternate crop should be distributed in draught affected area at a minimum support price.
  • Educate the farmers on alternate cropping system and prevent hoarding.

In months to come, El Nino will certainly form a part of agenda for the new government of
 Mr. Narendra Modi and it will be a worthwhile to see how this new government who believes to work on policies will save our farmers and economy from EL NINO.

All about NPA’s


What are NPA’s (Non Performing Assets):
A mortgage in default would be considered non-performing, after a prolonged period of non-payment(90 days).


The lender will force the borrower to liquidate any assets that were pledged as part of the debt agreement. If no assets were
pledged, the lenders might write-off the asset as a bad debt and then sell it at a discount to a collections agency. 

Here is an example to help you understand what NPA’s are and how Banks counter it-
Mr. X decided to start a business for that he needed money (the fuel) , X had 25% of the money in his pocket, he decided to go through the route of Initial Public Offering(IPO) to generate 25% more by offering his company shares to public , the remaining 50% he borrowed from Lena bank by mortgaging his papa’s land.
Days passed and the company started to do badly then to worse and the loan installments lapsed month on month, Lena bank issued warning but X continued the bad practice for more than 90 days (condition for NPA) and the bank labeled X as defaulter and the loan as a Non Performing Asset.

Now what X will do?
 He could take his case against the bank to Debt recovery tribunal (DRT- A court for such cases).

What are Lena bank’s options?
In 2002, Govt. gave bank’s a lifeline called as SARFAESI Act (Securitization and Reconstruction of Financial Assets and Enforcement of security interest Act)
With this Act Lena bank has the power to take possession of Mr.X’s property or can transfer this to some other ownership.

What bank will do with the acquired property?
  •    Bank can use this for their own purpose like , opening a new branch on it, installing of ATM’s etc.
  •       Bank can advertise in newspapers for the auction of the property acquired and could auction them on any pre decided day.
  •       Bank can sell the property to ARC (Asset Reconstruction Company), these are registered companies under RBI, they buy such assets from banks and sell them at higher prices to gain profits.


NOTE- Total amount of NPA’s are around 4.4% of the total assets of banks in India and expected to increase to 4.7% till the end of FY’15

Inflation and RBI



PART-I

To understand RBI monetary policy we have to understand why RBI has to do all this mehnat, RBI has a biggest villain standing against him called as INFLATION.

INFLATION-
Inflation is the biggest parasite in the Indian economy. In the condition of inflation there is flow of extra money in the economy creating excess of demand in the market for the products as compared to supply in midst of all this maara maari the producers grab this opportunity with both arms and if possible with legs too (too greedy these fellows), they mark higher prices for the goods that are excess in demand and this creates a rise in price of the products resulting in inflation.

Inflation has the following adverse effects on the economy:
Here is story of Mr. Bechara(common man)

Inflation and Purchasing Products-
Purchasing Power-The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. Mr.Bechara  is fetching a salary of Rs.20K monthly, he was doing his best to keep up to the expectations his over sized wife and extra demanding kids, Now in inflation his salary is the same but his 20K will now cannot complete the demands of his family, because that 20K has become equivalent to say, 18K and now they can have less resources in the same prices, This will result in the debt conditions , lesser purchase of goods and services(due to higher prices) and will directly hurt the economy.



Inflation and Debt-
Price inflation is a debtor's best friend and a creditor's worst enemy. Let’s see how, our Mr. Bechara gave Rs. 10K to a debtor in 2006 for a period of three years, after two years inflation occurred, now the value of that 10k becomes equivalent to 8k (loss in the value of Rs), The effect of inflation on debtors is positive because debtors can pay their debts with money that is less valuable.

Other negative impacts-

Black-marketing- Expecting inflation many mafias start to collect the onions and kerosene in their backyards for releasing these when the inflation strikes, hence they will make big bucks in no time and our Mr. Bechara has to pay more than hefty amount for the daily ka aaloo ,pyazz..

Unemployment
- Inflation comes along with a gift package of unemployment, companies with limited resources will start to fire people on the name of cost cutting and also the new recruitments will not happen resulting in not so aache din for aspirants.

Different stages of Inflation-

Creeping Inflation:
Creeping or mild inflation is when prices rise 3% a year or less.

Walking Inflation:
This type of strong, or pernicious, inflation is between 3-10% a year. It is harmful to the economy because it heats up economic growth too fast.

Galloping Inflation:
When inflation rises to ten percent or greater, it wreaks absolute havoc on the economy. Money loses value so fast that business and employee income can't keep up with costs and prices. Foreign investors avoid the country.

Hyperinflation:
Hyperinflation is when the prices skyrocket, the currency becomes a piece of trash, Zimbabwe experienced a similar conditions in previous years.

Calculation of Inflation-
In India inflation is calculated by the help of CPI(Consumer Price Index),previously it was calculated by WPI(Wholesale Price Index), CPI as a scale was adopted by RBI ,due the recommendations of Urijit Patel committee. 

We will see how RBI curb inflation in PART-II of the article (coming soon)

Bank of Maharashtra Specialist Officers (IT) Online Exam 2014 Call Letters out



Bank of Maharashtra has activated the download link of Online Examination for Recruitment of Specialist Officers. The online exam is going to be held on 6th July 2014. You should enter your Registration number and date of birth / password to download your call letter.


Click here to
 Download your call letter

Click here to
 Download Information Handout 

Click here to
 Download scribe declaration 

DAILY GK UPDATE - 22 - 23rd June



1.    FinMin mulls fixed 5-year term for PSB chief

i. The Union finance ministry is considering a proposal to provide a fixed tenure of five years to heads of public sector banks (PSBs). The aim is more operational stability and accountability.
ii. It is also considering changes in the appointment procedure of wholetime directors and revising the criteria for selection of non-official directors on PSB boards.
iii. We have proposed a fixed tenure of five years for chairmen & managing directors of PSBs,” said a ministry official. The department of financial services has discussed its proposals with minister Arun Jaitley, who will decide.
iv. The department has argued that a fixed tenure would give CMDs enough scope to strategise and take action, beside increasing their level of commitment and accountability.
v. The problem, though, is that heads of public sector undertakings (PSUs) in other sectors would also ask for a fixed tenure. The retirement age for all PSU executives is 60 years. So, generally, the term of a CMD varies between one year and five years.
Note: The P J Nayak committee on governance changes in PSBs had also recommended a minimum five-year tenure for CMDs and a minimum three-year tenure for EDs.
2.    Swiss Money: India moves up to 58th rank; UK remains on top 

i. India has moved up to 58th rank in terms of foreign money lying with Swiss banks, but it accounts for a meagre 0.15 per cent of an estimated USD 1.6 trillion total global wealth held in Switzerland's banking system.

ii. The UK has retained its top position with highest share of close to 20 per cent of global wealth in Swiss banking system, followed by the US, West Indies, Germany and Guernsey in the top-five in terms of exposure to banks in Switzerland. 
iii. Amid much hue and cry over huge amounts of illicit wealth stashed by Indians in Swiss banks, the latest official data released by Switzerland's central banking authority SNB shows that Indian money in Swiss banks rose by 43 per cent during 2013 to close to Rs 14,000 crore (2.03 billion Swiss francs), pushing its global ranking up from 70th at the end of 2012. 
iv. The rankings are based on the direct client exposure as also the funds held through 'fiduciaries' or wealth managers with a total of 283 banks in Switzerland. 
v. India now ranks higher than Pakistan, whose position has slipped from 69th earlier to 74th now, as its total exposure to Swiss banks declined from 1.44 billion Swiss francs at the end of 2012 to 1.23 billion Swiss francs in 2013. 
3.    President releases first Encyclopedia on Hinduism 
i. The basic tenet of Hinduism is happiness, health and enlightenment for everyone, and suffering, pain and agony for none, President Pranab Mukherjee said as he received the first copy of the Encyclopedia of Hinduism on Monday.
ii. Speaking at a function at the Rashtrapati Bhavan, the President complimented Swami Chidanand Saraswatiji of the Parmarth Niketan Rishikesh, the founder-chairman of India Heritage Research Foundation (IHRF) for undertaking the effort to bring out the encyclopedia.
iii. Hindu philosophy identifies 'Dharma', 'Artha', 'Kama' and 'Moksh' as the foremost objectives of a human being, and striking a balance in human behaviour in working towards these objectives has been prescribed as a key aim of human existence, the President said according to a statement from Shamima Siddiqui, Deputy Press Secretary to the President. 
iv. Quoting former President Sarvapalli Radhakrishnan, Mukherjee said Hinduism is not just a faith, but a union of reason and intuition that cannot be defined, but is only to be experienced. 
4.    Nivea to set up first plant in India at Sanand
i. Global skin care giant Nivea today announced to set up its first ever manufacturing plant in India at Sanand near Gujarat.
ii. Apart from the manufacturing facility, Nivea India, an affiliate of Germany-based Beiersdorf AG, will also set up its R&D center at the Sanand-based factory, which will focus on innovations for Indian consumers as well as other markets, said Managing Director of Nivea India, Rakshit Hargave,
5.    Gro Harlem Brundtland awarded Tang Prize in sustainable development
i. Gro Harlem Brundtland was awarded with the first Tang Prize in sustainable development. The Tang Prize was given to her by the Tang Prize Foundation.
ii. She is a former Prime Minister of Norway and was awarded the prize for her innovation, leadership and implementation of sustainable development.  She is known as the Godmother of sustainable development.
6.    Ramanarayanan, Tamil film director and producer, died at 65
i. Ramanarayanan, Tamil film director and producer died on 22 June 2014 in Singapore at the age of 65. 
ii. He has directed 125 films and holds the world record of directing the maximum number of movies by a director.
7.    Magnus Carlsen wins FIDE World Blitz Chess Championship in Dubai

i. Norway’s Magnus Carlsen has won the FIDE World Blitz Chess Championship in Dubai.
ii. He bagged Gold medal with 17 points from the 21 rounds to emerge the winner in the super fast 5 minutes rounds of chess. Russia’s Ian Nepomniachtchi won the Silver followed Carlsen and Hiraki Nakamura of US got the Bronze medal. 
iii. India’s Grandmaster Vishwanathan Ananad ended up at the seventh place in the blitz round with 13 points. Norwegian Magnus Carlsen has also won the Rapid Chess Championship followed by Armenia’s Fabiani Caruana in second and India’s Vishwanathan Anand in the third place. 
8.    Virat Kohli loses top spot in ODI rankings to ABDevilliers
i. South Africa’s ABDevilliers has eclipsed Virat Kohli as the number One batsman in the latest ICC ODI team rankings. Devilliers has also maintained his top billing in the ICC Test rankings. 
ii. After a string of poor performances, Shikhar Dhawan has been pushed down to the tenth place. Ravindra Jadeja is placed seventh in the ICC ODI bowler’s rankings while he is at number four in the Allrounders list. India maintains its third position in the latest ODI rankings after Australia and Sri Lanka.


SBI PO: Letter to Editor about Beggar Problem in India



Hello Readers,
As we all know, SBI PO was flagged off on 14th June 2014 and will continue for the next couple of weekends. SBI PO Exam is divided into two parts - Objective Paper and Descriptive Paper. So, we are presenting to an Formal Letter on 

"Write a letter to the Editor of a newspaper about the Beggar problem in India".

ABC
Block – J 88/3,
Nirman Vihar,
Delhi

Date: 17-06-2014

To,
The Editor,
The Times of India,
Delhi

Subject – Beggar Problem in India

Sir,
I hope, that you would kindly give a little space to my letter in your esteemed newspaper.

The beggar problem in India is a matter of great shame and concern. They are seen at the bus-stop and in buses, at railway stations and in trains, at red lights, near temples, at market, etc.

A beggar is a stigma. He is a burden on society. Begging neither involves physical labour nor mental exertion. Some beggars earn more than most of the low paid persons. They get used to a life of leisure.

They exploit their handicap and beg in the name of God. God-fearing and charitable people give them alms. They pose to be deaf and dumb in order to arouse the sentiments of the passerby and ooze their sympathy. They do not spare even foreign tourists and these foreigners get a bad image about our country due to these beggars.

It is a sin against humanity to patronise beggars. With our help we are spoiling a person and are creating a problem for the society by adding to the number of beggars.

The authorities should put a ban on begging so that the pursuers and perpetrators of beggind should be dealt with, with an iron hand.

Yours faithfully
XYZ