CompitativeNeeds

Monday, May 18, 2015

SBI PO - Schedule of SBI PO Recruitment 2015

SBI has announced the complete schedule for the SBI PO recruitment 2015-16.

State Bank of India has announced dates for the exam, dates for call letter download, dates of interview and other important dates in respect of the Probationary Officers recruitment 2015-16.

You can download the entire schedule here

IBPS Examination 2015 – Tentative Calender of the IBPS already Announced

IBPS has released tentative calender for IBPS RRB IV and IBPS PO and Clerk V 2015. We are providing you a direct link and notification of IBPS.

Official IBPS Notification and Calender

Saturday, May 9, 2015

GST(Goods And Services Tax)

Recently GST(Goods and services Tax) was in headlines and the proposal is going rounds in the economic fraternity, GST when comes in to picture sooner or later will help economic scenario to a very large extent and will create a utopia for the companies and people. It is an important topic in terms of forthcoming examinations, So let’s understand what GST is.

1. What is GST?

It is an indirect tax that will lead to the abolition of all other taxes such as, central sales tax, state-level sales tax, excise duty, service tax, and value-added tax (VAT). Both the state and the central governments will impose GST on almost all goods and services produced in India or imported into the country.

2. What categories are exempt from GST?

Exports will not be subject to GST. Direct taxes, such as income tax, corporate tax and capital gains tax will not be affected.

3. How will GST benefit the economy?

It will simplify India's tax structure, broaden the tax base, and create a common market across states. This will lead to increased compliance and increase India's tax-to-gross domestic product ratio. According to a report by the National Council of Applied Economic Research, GST is expected to increase economic growth by between 0.9 per cent and 1.7 per cent. Exports are expected to increase by between 3.2 per cent and 6.3 percent, while imports will likel rise 2.4-4.7 per cent, the study found.

4. How will GST benefit corporate?

It will be beneficial for India Inc as the average tax burden on companies will fall. Reducing production costs will make exporters more competitive.

5. Will goods and services become costly?

The highest rate of taxation under GST will be around 15 per cent in the first year, and eventually come down to 12 per cent in the second year. By comparison, the current rate of the various indirect taxes levied in India amounts to roughly 20 per cent. Goods deemed necessary or of basic importance will be taxed at a lower rate.

6. Will state governments lose out?

Some states fear that a uniform tax rate, if lower than their existing rates, will dent collections. However, the central government has said it will compensate states for the potential revenue loss. The reduced and uniform taxation will help more pouring of money in the state.

7. Can states decide to opt out of GST?

In a deviation from its earlier stand, the government has agreed for a phased roll-out of GST. States will also have the flexibility to opt out of GST.

8. How will it become a reality?

The GST can be implemented only through a Constitutional Amendment Bill, which means it needs to be approved by not less than two-thirds of the members present and voting in each House of Parliament. The GST must also be ratified by the legislatures of at least one-half of the states.

MUDRA Bank: Weighing the Possible Benefits

The Prime Minister Narendra Modi launched the promised Micro Units Development and Refinance Agency Ltd (MUDRA) Bank on 8 April, 2015 with a corpus of Rs 20,000 crore and a credit guarantee corpus of Rs 3,000 crore. The launch was the fulfillment of an announcement made earlier by the Finance Minister Arun Jaitley in his FY 15-16 Budget speech.
How Can MUDRA Bank Make a Difference to the Economy?

Most individuals, especially those living in rural and interior parts of India, have been excluded from the benefits of formal banking system. Therefore, they never had access to insurance, credit, loans and other financial instruments to help them establish and grow their micro businesses. So, most individuals depend on local money lenders for credit. The loan comes at high interest and often with unbearable conditions, which make these poor unsuspecting people fall in a debt-trap for generations. When businesses fail, the borrowers become vulnerable to the lender’s strong-arm tactics and other forms of humiliation.

As per NSSO Survey of 2013, there are close to 5.77 crore small-scale business units, mostly sole proprietorships, which undertake trading, manufacturing, retail and other small-scale activities. Compare this with the organised sector and larger companies that employ 1.25 crore individuals. Clearly, the potential to harness and nurture these micro businesses is vast and the government recognises this. Today, this segment is unregulated and without financial support or cover from the organised financial banking system.

The principal objectives of the MUDRA Bank are:

Regulate the lender and the borrower of microfinance and bring stability to the microfinance system through regulation and inclusive participation.

Extend finance and credit support to Microfinance Institutions (MFI) and agencies that lend money to small businesses, retailers, self-help groups and individuals.

Register all MFIs and introduce a system of performance rating and accreditation for the first time. This will help last-mile borrowers of finance to evaluate and approach the MFI that meets their requirement best and whose past record is most satisfactory. This will also introduce an element of competitiveness among the MFIs. The ultimate beneficiary will be the borrower.

Provide structured guidelines for the borrowers to follow to avoid failure of business or take corrective steps in time. MUDRA will help in laying down guidelines or acceptable procedures to be followed by the lenders to recover money in cases of default.

Develop the standardised covenants that will form the backbone of the last-mile business in future.
Offer a Credit Guarantee scheme for providing guarantees to loans being offered to micro businesses.
Introduce appropriate technologies to assist in the process of efficient lending, borrowing and monitoring of distributed capital.

Build a suitable framework under the Pradhan Mantri MUDRA Yojana for developing an efficient last-mile credit delivery system to small and micro businesses.
Major Product Offerings

MUDRA Bank has rightly classified the borrowers into three segments: the starters, the mid-stage finance seekers and the next level growth seekers.

To address the three segments, MUDRA Bank has launched three loan instruments:

Shishu: covers loans upto Rs 50,000/-

Kishor: covers loans above Rs 50,000/- and upto Rs 5 lakh

Tarun: covers loans above Rs 5 lakh and upto Rs 10 lakh

Initially, sector-specific schemes will be confined to “Land Transport, Community, Social & Personal Services, Food Product and Textile Product sectors”.

Over a period of time, new schemes will be launched to encompass more sectors.

Some of the Offerings Planned for the Future:
MUDRA Card
Portfolio Credit Guarantee
Credit Enhancement
Can MUDRA Really Be a Game Changer for India?

Yes it can. See the existing demographics. Majority of Indians are poor and live in rural and interior parts of India. Most are excluded from getting facilities that would be termed very basic, even by Indian standards.

Most people do not have access to farmland and in the absence of jobs, are left to their own creativity to feed themselves and survive. They figure out ways to do odd jobs in exchange of money or barter their services. Most of these people belong to scheduled castes, scheduled tribes and other backward classes. It is to be noted that most of the micro enterprises, retail or trading activity, are initiated and controlled by women, with no exposure to education, formal training or access to any form of banking support.

Now visualise this. If India could harness this free spirit of enterprise and offer some guidance, support, training and financial assistance, the potential to get an immediate jump in GDP is there for the asking. Narendra Modi recognises this and was clear of the potential of this low-hanging fruit.

If MUDRA can continue to retain focus on the underprivileged and extend its reach to the interiors, it can well emerge as a bigger success story than what Grameen Bank of Bangladesh ever was or will be.

There is an old saying that goes like this: “Give a man a fish you feed him for a day, teach him how to fish and he will never go hungry”. MUDRA Bank is a step by the government that can be a game changer in giving birth to a new set of entrepreneurs, some of whom may scale heights not imagined today. This is far better than giving subsidy, which may seem welcoming at first, but does little to help an individual strive for a better life. MUDRA is the way to go.

The modalities of functioning of MUDRA Bank are in place and it has been decided that the funding activity will be carried out by microfinance institutions. However, the small businesses have to wait to get full information on Mudra Bank and have a clarity on who all are eligible for loans and how to get the benefits of this scheme.

Here are 11 things you must know about MUDRA Bank and how it will benefit you:

What does it stand for?

Mudra Bank stands for Micro Units Development Refinance Agency (MUDRA). Also, Mudra, in Hindi, means currency.

Setting up

Mudra Bank is being set up through a statutory enactment and will be responsible for developing and refinancing through a Pradhan Mantri MUDRA Yojana.

Last mile financiers

Since small entreprenuers are businssess are often cut off from banking system because of limited branch presence, Mudra Bank will partner with local coordinators and provide finance to "Last Mile Financiers" of small/micro businesses.

Targets

The Finance Ministry said measures to be taken up by MUDRA are targeted towards mainstreaming young, educated or skilled workers and entrepreneurs including women entrepreneurs.

5.77 crore

The bank will cater to 5.77 crore small business units that are spread all across India who currently find it difficult to access credit from the regular banking system.

Recovery method

Mudra Bank will ensure clients are properly protected and will lay down principles and methods of loan recovery in case of a default. The Bank will also rigidly follow "responsible financing practices" so deter borrowers from indebtedness.

Corpus

The Bank will be set up with a corpus of Rs 20,000 crore and a credit guarantee fund of Rs 3,000 crore.

Shishu/Kishor/Tarun

The Bank will nurture small businesses through different stages of growth and development of businesses termed as Shishu, Kishor and Tarun.

Shishu

This iswill be the first step when the business is just starting up. The loan cover in this stage will be upto Rs 50,000.

Kishor

In this stage, the entreprenuer will be eligible for a loan ranging from Rs 50,000 to Rs 5 lakh.

Tarun

This last and final category will provide loans for upto Rs 10 lakh.

Recent Developments:
Hasmukh Adhia, union financial service secretary said that Mudra Bank will be first set up as a subsidiary of the Small Industries Development Bank of India and later will be converted to a full-fledged bank through an Act of Parliament. Adhia made this announcement during a ‘roundtable on financing of innovations’ which was attended by chiefs of banks and financial institutions, and also the President of India. Although Adhia did not disclose the details about the set up of Mudra Bank, he said that the Prime Minister will launch it soon.

ICICI PO Recruitment 2015 – Apply Online for PO Posts.

ICICI PO Recruitment 2015 – Apply Online for PO Posts:

ICICI Bank, Manipal Acadamy has issued notification for the recruitment of Probationary Officer through Training Programme vacancies in the Batch of November 2015 & February 2016 Batch. Eligible candidates may apply online on or before 30-06-2015. Other details like age limit, educational qualification, selection process, exam fee & how to apply are given below…

ICICI PO Vacancy Details:

Name of the Post: Probationary Officer

Age Limit: Candidates age should be up to 25 years as on 30-06-2015 (should have been born on or after 30th June 1990).

Educational Qualification: Candidates should have Graduation with 55% (Aggregate) marks in any discipline.

Selection Process: Candidates are selected based on their performance in Online Aptitude test, Psychometric Assessment, Group Discussion, Merit List, Personal Interview.

How to Apply: Eligible candidates may apply online through the website www.icicicareers.com on or before 30-06-2015.

Instructions for Apply Online:
1. Logon to the website www.icicicareers.com.
2. Click on PO Recruitment—–> about the PO Process.
3. Click on apply here.
4. Read Instructions care fully.
5. Fill all mandatory details.
6. Click on Submit Button.
7. Take print out for future use.

Last Date to Apply Online: 30-06-2015.

For more details like age limit, educational qualification, selection process, exam fee, how to apply & other information click on the link given below…

Click here for Recruitment Advt

Click here for Further Queries (FAQs)

Click here for sample Questionnaire

Click here to Apply Online

IDBI Bank Recruitment 2015 – Apply Online for 500 Executive Posts.

IDBI Bank Recruitment 2015 – Apply Online for 500 Executive Posts:

IDBI Bank has published a notification for the recruitment of 500 Executive vacancies on contractual basis. Eligible candidates may apply online from 06-05-2015 to 22-05-2015. Other details like age, educational qualification, selection process, application fee, how to apply are given below…

IDBI Bank Vacancy Details:

Total No. of Posts: 500

Name of the Post: Executive

Age Limit: Candidates age minimum 20 years and maximum 25 years as on 01-04-2015. Age relaxation is applicable for SC/ ST/ Ex Serviceman/ PWD applicants as per GOI rules.

Educational Qualification: Candidates should possess Graduation from a recognized University.

Selection Process: Candidates will be selected based on their performance in online test followed by personal interview.

Application Fee: Candidates have to pay Rs. 600/- (Rs. 100/- for SC/ ST/ PWD candidates) through online payment gateway using debit cards (RuPay/ Visa/ MasterCard/ Maestro), Credit Cards, Internet Banking, IMPS, Cash Cards/ Mobile Wallets.

How to Apply: Eligible candidates may apply online through website www.idbi.com from 06-05-2015 to 22-05-2015 and send their printout of application on or before 04-06-2015.

Instructions to Apply Online:
1. Before applying online candidates should have valid email id and Contact No.
2. Candidates are neatly scanned the photograph & Signature at the time of Online Registration.
3. Log on to the website www.idbi.com.
4. Click on Current Openings.
5. Click on Recruitment Notification for the Post of Executive.
6. Click on “Online Application for the Post of Executive”.
8. Read the Disclaimer and Click on Yes.
9. Click on New Registration.
10. Fill all the mandatory details.
11. Click on Submit Button.
12. Take print out of application form for future use.

Important Dates:

Starting Date for Submission of Online Applications: 06-05-2015.
Last Date for Submission of Online Application & Editing Application Details: 22-05-2015.
Payment of Application Fee/ Intimation Charges-Online: 06-05-2015 to 22-05-2015.
Last Date for Print out of Applications: 04-06-2015.
Date of Pre-Examination training for the
SC/ ST / OBC applicants at all centers: From 05-07-2015 to 10-07-2015.
Date of Online Test at all Centers: 11-07-2015.

For more details like age, educational qualification, selection process, how to apply & other information click on the link given below…