FAQ on Central Civil Pensionsers
To view the details, please CLICK HERE.
Solved questions Postal/Sorting Assistants Exam held 12.05.2013 (Part B Maths )
The average temperature of three days is 24 o c .if temperature on the first two days is 20 o c and 25 o c respectively then the temperature on the third day
a 22 ½ b 23 c 27 d 24
The total temperature recorded on three days was 24*3=72
First two days temperature 20+25 = 45
Then last days temperature is 72-45=27
|
Two trains leave stations p and q 110 km apart train from p and q travels at 25 km/hr and train from q to p at 30 km/hr if they both start at 8 AM they meet at
a 10.40 AM b 09.00 AM c 8.45 AM d None of these ,
Suppose they meet x hours after 8 a.m.
Distance covered by P in x hours = 25x km.
Distance covered by q in x hours = 30xkm
 25x + 30x = 110
55x = 110
X=55/110
X=2
they meet at 10 a.m.
So Answer d None of these
|
The average score of Sachin Tendulkar in IPL 15 Matches is 70 Runs and the average score in Border Gavaskar Trophy T-20 Matches is 45 runs in 7 Matches .
a 990 b 971 c 982 c None of these
If he has played 10 more international T-20 matches and his overall average score in T-20 Matches was 73 runs .
what was his total score in 10 international T-20 Matches
Average score in 15 matches is 70 so total scored in 15 Matches 15*70= 1050
Average score in 7 matches is 45 so total scored in 7 Matches 7*45= 1050= 315
If he played 10 more match then t-20 matches average will become 73
Ie total matches played 15+7+10= 32
73= 1050+315+x/32
73= 1365x/32
73*32=1365x= 2336=1365x
.’. x=2336-1365= 971 ie 2336/32= 73
So Answer is b 971
|
Solved question -PA/SA Exam held on 12.05 2013
A sum of Rs 8000 generates Rs 1261 as compound interest in 3 Years . Interest being compound annually . The rate of compound interest is a 20 % b 2.5 % c 10 % d 5 % r = ( FV / PV )1/n – 1 r= RATE OF INTEREST ? FV = FUTURE VALUE 9261 PV = PRESENT VALUE 8000 N= NUMBER OF YEARS 3So Answer d 5 % |
Three items are purchased at Rs 380 each . One of them is sold at a loss of 10% . The others are sold so as to gain 25% on the whole transaction ? what is the gain % on these two items
a 44.5 % b.42.5 % c 40.5 % d None of these Cost price = 380*3 = 1140 If 25 % is gain is needed then our target SP of total goods = 125/100×1140=Rs.1425 cost price of one item is Rs 380 SP of one item = 90/100×380=Rs.342 SP of the remaining goods = 1425 – 342 = Rs. 1083 Cost price of two items = 380*2= 760 323/760*100= 42.5 % So Answer is b 42.5% |
Change of the term DPC (for confirmation) - reg.
To view Department of Personnel and Training OM No. AB.14017/21/2011-Estt. (RR) dated 10th May, 2013 please CLICK HERE.
Finance ministry opposes India Post’s banking licence plan
Mumbai: The finance ministry has opposed India Post’s plan to seek a commercial banking licence from the Reserve Bank of India (RBI) on grounds that the postal service doesn’t have the expertise needed in relevant areas, such as handling credit.
India Post is keen to set up a commercial bank called the Post Bank of India, arguing that it can significantly boost financial inclusion in Asia’s third largest economy through its nationwide network of 155,000 post offices.
This will also allow the organization, which posted a loss of Rs.6,346 crore in fiscal 2012, to make up for business dropping off over the years as letter writing dwindled and private courier firms took away market share.
Losses have significantly increased in recent years on account of higher expenses.
However, the finance ministry’s department of financial services doubts India Post’s ability to set up and run a bank, according to a senior postal department official who didn’t want to be named.
Some of the country’s large public sector banks have also been lobbying against the proposal, concerned that India Post, with its vast branch network, could pose a threat to their business, said the official, who’s directly involved with the proposal.
“The larger idea of setting up a bank is to further the cause of financial inclusion. Entry of India Post into banking can significantly help address this situation,” the official said.
However, “They (finance ministry officials) are asking too many questions. Why (do) you need a bank? What is your expertise to run a bank?” the official said.
India Post is engaged in several related functions, such as running a savings bank scheme, selling tax-saving instruments and accepting public provident fund deposits. The government also uses post office accounts to route payments to beneficiaries as part of the rural jobs programme and the direct transfer of subsidies.
A former government official said the postal department should focus on its existing business.
“It is totally illogical for the postal department to enter into banking. They do not have the experience in handling credit or the ability to manage a bank,” said D.K. Mittal, who was finance secretary till recently.
“Mere experience in collecting deposits under the post office scheme is not enough. The department should ideally focus on improving their core activity.”
According to Mittal, the department should adopt new technology and try to become profitable instead of diversifying operations.
Emails to financial services secretary Rajiv Takru last week remained unanswered.
RBI invited applications from private and public sector entities in February to set up banks, three years after former finance minister Pranab Mukherjee made the suggestion and nine years after the last round of licences were issued.
The application deadline expires on 1 July. The minimum capital required by applicants is Rs.500 crore.
Companies that have expressed interest in starting banks include L&T Finance Holdings Ltd, India Infoline Ltd,Religare Enterprises Ltd, Aditya Birla Financial Services Group, Mahindra and Mahindra Financial Services Ltd, LIC Housing Finance Ltd, Bandhan Financial Services Pvt. Ltd, Janalakshmi Financial Services Pvt. Ltd, Tata Capital Ltd, IDFC Ltd, Reliance Capital Ltd, India Infrastructure Finance Co. Ltd, Bajaj Finserv Ltd and Srei Infrastructure Finance Ltd.
Despite the finance ministry’s reservations, India Post is determined to go ahead with its application and has appointed consultancy firm Ernst and Young (E&Y) India to advise it on the plan, officials said.
The department is still in consultation with various ministries on the modalities of setting up a new bank.
While the plan is almost two decades old, the department got serious about it sometime in 2006, conducting internal viability studies and seeking the opinion of consultancy firms.
The move gathered momentum when RBI announced final licensing norms for new banks in February.
According to an interim report submitted by E&Y India in April, the proposed Post Bank of India will focus on the bottom of the pyramid, or the poor, in non-metro centres and avoid urban areas that are already well served by large banks.
“The existing deposit holders under the post office savings bank scheme will have an option to transfer their deposits to the bank if they choose to do so,” said the postal department official cited earlier in the story.
In the initial phase, the Post Bank will have 300-400 branches and a specific number of postal outlets will be managed by each of them.
According to the official, the department of posts plans to introduce an advanced technology platform that will connect all post office branches. It has also studied models of post offices that run banks in Germany and Japan.
E&Y will soon submit its final report to the postal department, said Ashvin Parekh, partner (financial services).
“There have been some concerns raised by the finance ministry regarding the proposal,” he said. “We are in the process of submitting our final report, which will...answer all...concerns.”
Financial inclusion, or ensuring that more of the country’s citizens become part of the banking system, has been a key aim of both the central bank and the Congress-led United Progressive Alliance government for several years. About 40% of India’s population still do not have access to formal financial services.
RBI introduced a three-year financial inclusion programme in April 2010 that saw banks opening outlets in 200,000 villages. RBI has advised banks to draw up a financial inclusion plan for 2013-2016 to further broaden access.
India Post will pitch its vast branch network as an advantage in this direction, although the current state of some of these outposts isn’t likely to inspire much confidence in those looking for a safe place to keep their money.
Out of the total 154,866 post offices, 139,040 are in rural areas. About 6,000 people are covered on average by a post office in rural areas and about 24,000 in urban areas, according to a 2011 estimate by the postal department.
As of 31 March, the outstanding balance under the post office savings scheme stood at Rs.6.05 trillion, which is equivalent to half the deposits of government-owned State Bank of India, the country’s largest commercial bank, and double that of the largest private lender, ICICI Bank Ltd.
E&Y’s Parekh said: “The idea is not to convert the existing post office savings into a bank. The plan is to create a completely new bank. Hence there won’t be any large requirement of capital in the beginning,”
As for the finance ministry’s concerns about lack of credit experience, Parekh said: “This can be built up gradually.”
MTS QUESTION PAPER CHATTISGARH CIRCLE
MTS QUESTION PAPER CHHATISGARH CIRCLE : Click Here to View
Revision of Tariff/Postage rates for International EMS (International Speed Post)
To view the entire tariff list, please CLICK HERE
OLIVETTY PR2 E PLUS PASSBOOK PRINTER CONFIGURATION IN WINDOWS 7
To Configure Olivetti Printer in Windows 7:
- Download Olivetti drivers from http://www.olivetti.com/Tool/Download/DriverFirmware/view_html . Select the product model as PR 2 PLUS and select the operating system as windows 7 .
- Connect Olivetti Passbook printer and install drivers from downloaded setup.
- Select Port which you have connected with pc USB/COM/LPT
Configure Server Properties Forms in Windows 7:
Go to Control Panel > Administrative Tools > Print Management > Printer Servers -> -> Forms and then Click on Action menu > Manage Forms.
- Select Create New Form. Give the name of the form as ‘PASSBOOK’
- Give the following dimensions to the form for Vista and Windows 7 operating system.
Width : 7.92 inch Left : 0.16 inch Top : 1.04 inch
Height : 5.80 inch Right : 0 inch Bottom : 0 inch
- Select Printing Preferences>Layout >Advanced> Paper/Output Paper Size >Select “PASSBOOK”.
Why India Post should get a banking licence
 |
| India Post also sells mutual funds and pension products and offers remittance service from 205 countries across the world. It has tied up with Western Union Financial Services for this. Photo: Priyanka Parashar/Mint |
India’s central bank is set to open doors to a set of private and state-run entities in the banking space in Asia’s third largest economy. The objective behind doing this, almost a decade after companies were last allowed to float banks, is the so-called financial inclusion or expansion of banking services in a nation of 1.2 billion people where 40% of the adult population still does not have access to banking. If the Reserve Bank of India (RBI) were to choose one state-run entity to do so, it should be 159-year old India Post. It had 154,822 branches across the country as on 31 March, the latest data available, the largest for any postal department in the world, and close to 90% of them—139,086—are in rural India. This is more than four times the rural branches of Indian banking system. As of June 2012, there are 165 banks in India, including 82 regional rural banks, and collectively they have a branch network of 92,117. Roughly 36% of it, or 33,367, are in rural pockets.
On top of this, India Post has 573,749 letter boxes strewn around the country. Imagine a situation where these letter boxes are doubling up as cheque collection boxes; there will be a dramatic change in the banking landscape in India. Using its network, India Post is capable of doing door-step banking even in remote villages, pushing moneylenders out of business. On an average, a post office serves an area of 21.23km and covers 7,817 people. In contrast, a bank branch serves around 13,000 people.
When it comes to number of accounts, India Post, however, lags behind the banking system. It has some 238 million savings accounts against the banking system’s 810 million accounts but it’s much more than what any bank in India has under its fold. The outstanding balance in all its accounts is little over Rs.6 trillion, more than half of the deposit base of the country’s largest lender, State Bank of India, and more than double of India’s largest private lender ICICI Bank Ltd’s deposit liability. The banking system’s deposit base is around Rs.68.4 trillion.
Apart from mobilizing savings through various schemes, India Post also sells mutual funds and pension products and offers remittance service from 205 countries across the world through 9,751 post offices. It has tied up with Western Union Financial Services Inc. and MoneyGram International Inc. for this. The government also uses post office accounts to route payments to beneficiaries as part of the rural jobs programme and the direct transfer of subsidies. The money raised by India Post goes into the so-called consolidated fund of India. In other words, they are part of the government’s public debt.
With this background, India Post should be the fittest candidate to establish a bank if indeed RBI wants financial inclusion, as no other public or private entity can compete with it in terms of reaching out to the rural masses. It is familiar with the art of deposit taking; has personalized relationships with rural folks who do not yet have access to Internet; and even though it does not directly invest in government bonds, it will not have any problem in fulfilling the statutory requirement of buying government bonds as it has been contributing to the consolidated fund of India. All it needs is to convert part of it into exposure to government bonds. Besides, it also has the infrastructure in place for distribution of financial products.
The argument that can go against it is its Rs.6,346 crore loss in fiscal 2012 as its business dropped, with emails denting people’s letter-writing habit and private courier firms taking away its market share. If it cannot hold on to its own business, how can it run a bank? The main reason behind the loss is not erosion in market share but the heavily subsidized services that it offers in rural India. The subsidy varies between 66.66% in a normal rural pocket and 85% in hilly, tribal and dessert tracts and remote villages. One would imagine that the bank will not be forced to offer subsidized services under the so-called universal service obligation.
If it is allowed to run its banking operations only under commercial considerations, it is bound to succeed with its existing customer base, branch network and reach and expand banking services to every nook and cranny of the country, which no other entity can do.
The biggest asset of India Post is its customer base and branch network, which any bank would have loved to own. Globally, commercial banks always eye the postal department’s network, which comes in handy for reaching out to retail customers. In 2010, Deutsche Bank AG took over the control of Deutsche Postbank AG by raising its stake. Through this, Deutsche Bank added Postbank’s 14 million customers to its 10 million German private clients to become the country’s biggest private sector retail bank. Headquartered in Bonn, Postbank was formed following the restructuring of German postal services in 1990.
As both the RBI and Indian government are keen on financial inclusion, India Post could be a vehicle to do so, provided the government allows it to have a professional management with expertise in banking and skill in technology. If its lack of banking experience comes in the way, India Post should tie up with a corporate entity and jointly seek the banking licence. State-run insurance behemoth Life Insurance Corp. of India (LIC) in 2001 had raised its stake in the Mangalore-based Corporation Bank from 12.26% to 27.02%. By doing so, LIC could start selling its insurance policies through the public sector bank and Corporation Bank started using LIC’s 3,000-odd branch network. India Post could do much more for spreading banking services.
Tamal Bandyopadhyay keeps a close eye on everything banking from his perch as Mint’s deputy managing editor in Mumbai. He is also the author of A Bank for the Buck, a book on HDFC Bank. Email your comments to bankerstrust@livemint.com
No comments:
Post a Comment