Wednesday, December 17, 2014


Core banking solution a few points

bank of baroda website source

Core Banking Solution
> Click here to view the list of branches under CBS (Indian)
> Click here to view the list of branches under CBS (Overseas)
What is Core Banking Solution ?
Core Banking Solution (CBS) is networking of branches, which enables Customers to operate their accounts, and avail banking services from any branch of the Bank on CBS network, regardless of where he maintains his account. The customer is no more the customer of a Branch. He becomes the Bank’s Customer. Thus CBS is a step towards enhancing customer convenience through Anywhere and Anytime Banking.
How shall CBS help Customers?
All CBS branches are inter-connected with each other. Therefore, Customers of CBS branches can avail various banking facilities from any other CBS branch located any where in the world. These services* are:
  • To make enquiries about the balance; debit or credit entries in the account.
  • To obtain cash payment out of his account by tendering a cheque.
  • To deposit a cheque for credit into his account.
  • To deposit cash into the account.
  • To deposit cheques / cash into account of some other person who has account in a CBS branch.
  • To get statement of account.
  • To transfer funds from his account to some other account – his own or of third party, provided both accounts are in CBS branches.
  • To obtain Demand Drafts or Banker’s Cheques from any branch on CBS – amount shall be online debited to his account.
  • Customers can continue to use ATMs and other Delivery Channels, which are also interfaced with CBS platform. Similarly, facilities like Bill Payment, I-Bob, M-bob etc. shall also continue to be available. Bank is in the process of launching Internet-banking facility shortly.
All these aim to provide convenient, efficient, and high quality banking experience to the customers, comparable to world class standards.
What are other benefits to the Customers ?
A CBS branch is like a Sales & Service Delivery Center. Back office processes/activities are handled through technology at some other site, called Data Center. Branch, therefore, has more time for serving customers. This improves the quality and efficiency of the services rendered and the customer is directly benefited by way of satisfying and happy banking experience.
Since a CBS branch is essentially designed to focus on customer-interface and customer service, the special lay-out and ambience of the branch is made to provide a convenient and delightful banking experience. The Customer Service Representatives / Executives at the branch are specially trained to understand, facilitate and deliver banking services efficiently and effectively.
We wish our customers happy banking.
(*To safeguard the interest of customers, Bank has placed certain restrictions on the amount of transactions, which are handled through other branches under CBS. The details can be obtained from the branch). 


TCS Bancs | Core Banking


The Core Banking solution from TCS BaNCS is an integrated solution that automates all aspects of core banking operations across entities, languages and currencies. A part of the universal banking suite, the core banking solution helps financial institutions introduce new products with ease and efficiently manage changes in existing ones.

  • Entire range of banking products including savings, checking, overdraft and deposit accounts
  • Entire range of lending products
  • Complement of transactional services including remittance, foreign exchange, cards and trade finance
  • Accessibility through multiple channels, including mobile banking and web
  • Full integration of front-, middle-, and back-office processes
  • Accurate, timely and actionable information about customer relations
  • Single view between bank and customer
  • “Anytime anywhere” banking
With world-class implementation and support expertise, the Core Banking solution from TCS BaNCS has been successfully deployed in leading banks across the world. State Bank of India, Taishin Bank, and Nova Ljubljanska Banka are among our success stories in the deployment of “anytime anywhere” banking. Our core banking solution automates banking processes and provides best-in-class customer service at reasonable cost, thereby maximizing operational efficiency and minimizing risks.
To know how our Core Banking solution from TCS BaNCS can help your organization, email us at:

A core banking system is the software used to support a bank’s most common transactions.
Elements of core banking include:
  • Making and servicing loans.
  • Opening new accounts.
  • Processing cash deposits and withdrawals.
  • Processing payments and cheques.
  • Calculating interest.
  • Customer relationship management (CRM) activities.
  • Managing customer accounts.
  • Establishing criteria for minimum balances, interest rates, number of withdrawals allowed and so on.
  • Establishing interest rates.
  • Maintaining records for all the bank’s transactions.
Core banking functions differ depending on the specific type of bank. Retail banking, for example, is geared towards individual customers; wholesale banking is business conducted between banks; and securities trading involves the buying and selling of stocks, shares and so on. Core banking systems are often specialized for a particular type of banking. Products that are designed to deal with multiple types of core banking functions are sometimes referred to as universal banking systems.
Examples of core banking products include Infosys’ Finacle, Nucleus FinnOne and Oracle's Flexcube application (from their acquisition of Indian IT vendor i-flex).

Tuesday, December 16, 2014

Daily GK Update - 14th and 15th December 2014

Daily GK Update - 14th and 15th December 2014

1.Central Sydney under Siege
i. Terrified hostages cowered inside a cafe in central Sydney Monday with an Islamic flag displayed against a window, sparking a security lockdown in an area home to government and corporate headquarters.
ii. Martin Place was evacuated as scores of armed police surrounded the Lindt chocolate cafe, with TV pictures showing a flag - black with white Arabic writing - held to a window by customers.
iii. Indian Prime Minister Narendra Modi expressed deep concerns over the Sydney cafe siege incident.

iv. Australian Prime Minister Tony Abbott said he has convened the National Security Committee for emergency briefings after hostages were reportedly taken in a Sydney cafe today.

2. Rahman and Jal for oscars

i. India’s music maestro A.R. Rahman may end up getting his third Oscar nomination in the best original score category after making it to the list of 114 probables.
ii. while Hindi film Jal also features in the long list of best picture Oscar hopefuls.

iii. Rahman, who has previously been nominated for 127 Hours and Slumdog Millionaire, for which he won two Oscars, has made it to the list for three of his films including Hollywood movies The Hundred-Foot Journey and Million Dollar Arm and Rajinikanth-starrer Tamil film Kochadaiiyaan.
iv. Jal features in the best picture list as an independent submission, while India will officially be represented at the Academy awards in the best foreign feature category by Liar’s Dice.

3. PM Narendra Modi launched Born Again on the Mountain by Arunima Sinha
i. Prime Minister Narendra  Modi launched a book tittled Born Again on the Mountain by Arunima Sinha.  
ii. She is the first Indian amputee and first female amputee to climb Mount Everest.
iii. The book is about her unforgettable story of hope, courage and resilience.
iv. She was a national level volleyball player who was pushed out of a running train by thieves in 2011 as she attempted to fight them off.

4. Miss South Africa Rolene Strauss crowned Miss World 2014
i. Miss South Africa, Rolene Strauss was crowned Miss World 2014 at the final of the beauty pageant held in London, UK. 
ii. Strauss, 22-year-old fourth-year medical student at University of the Free State, was presented with the sash by the outgoing Miss World, Megan Young of the Philippines.
iii. Rolene Strauss will now travel to the violence-hit Central American nation to build a school named in their honour. 
iv. Miss Hungary, Edina Kulcsar, was the runner-up and Miss United States, Elizabeth Safrit, came third in the 64th annual competition, contested by women from 121 countries.
v. India's 21-year-old Jaipur-born Koyal Rana made it to the top 10 but failed to make it to the top five. However, she bagged the sub-title of Best Designer of the world. 
vi. She also shared the Beauty With A Purpose title with Kenya, Guyana, Brazil and Indonesia. 
vii. Priyanka Chopra was the last Indian winner of the coveted title in 2000.

5. Miss World 2014: Aishwarya Rai Bachchan felicitated.
i. Aishwarya Rai Bachchan was on Sunday (December 14) felicitated by the Miss World Organisation at the 64th edition of the international beauty pageant for her commitment to “beauty with a purpose” since winning the crown two decades ago.
ii. Described as embodiment of beauty with purpose, Aishwarya Rai Bachchan is also seen as the most successful Miss World so far, a title that she won in 1994.

6. Wholesale inflation hits zero, lowest in over 5 years.
i. Wholesale price inflation hit a zero level in November, the lowest in about five and half years, on account of decline in prices of food, fuel and manufactured items.
ii. The Wholesale Price Index (WPI) based inflation was at 1.77 per cent in October and 7.52 per cent in November 2013.
iii. Onion price contracted 56.28 per cent as compared to a contraction of 59.77 per cent in October. In case of vegetables, the contraction was 28.57 per cent.
iv. Prices in fuel and power segment contracted by 4.91 per cent, as against 0.43 per cent inflation in October.
v. The decline in both retail and WPI inflation for November coupled with contraction of industrial production to 4.2 per cent in October, will put pressure on RBI to lower interest rates to boost growth.

7. Anil Ambani's BIG Cinemas sold to Carnival
i. Anil Ambani led Reliance Group has sold its multiplex business to South India-based Carnival Group in the largest ever deal in this space.
ii.The transaction will reduce Reliance Capital’s overall debt by Rs 700 crore and is part of Reliance Capital’s strategy to exit minority investments.
iii.The deal will make Carnival the third largest multiplex operator with nationwide presence and over 300 screens, a statement said on Monday.
iv.The deal struck between Carnival Cinemas and Reliance MediaWorks, will exclude IMAX Wadala (Mumbai) and some other properties worth Rs 200 crore, the statement added.
v. Reliance Capital is the parent firm of Reliance MediaWorks, which operates one of the largest cinema chains, under the brand ‘BIG Cinemas’ with over 250 screens pan-India.

8. World Hockey Body Suspends Two Pakistani Players Following Obscene Gestures.

i. Two Pakistani field hockey players were suspended and one was reprimanded for making obscene gestures after their team's semi-final win over hosts India in the Champions Trophy semi-final, the sport's governing body said on Sunday. 

ii. Muhammad Tousiq and reserve goalkeeper Ali Amjad were handed a one-match ban that sidelined them from the final of the eight-nation tournament against Germany later on Sunday in Bhubaneswar. 
iii. As the final hooter sounded in Saturday night's 4-3 thriller, excited Pakistani players took off their shirts and made rude gestures towards Indian fans at the packed 7,000-capacity Kalinga stadium.

9. Germany beat Pakistan 2-0 to win Champions Trophy.
i. Olympic champions Germany clinched the Champions Trophy title with a convincing 2-0 win over Pakistan in the summit clash.
ii. Overall, it was Germany's 10th Champions Trophy title. Pakistan, on the other hand, had bettered their bronze medal finish in the 2012 edition of the tournament in Melbourne by bagging the silver.
iii. Christopher Wesley (18th minute) and Florian Fuchs (57th) scored for Germany. The Germans were by far the better side on the ground as they dominated the Pakistanis for most part of the match. 

10. Anerood Jugnauth appointed as Mauritius Prime Minister.
i. Anerood Jugnauth appointed as Mauritius Prime MinisterAnerood Jugnauth was appointed as Mauritius Prime Minister by the President Purryag on 14 December 2014. 
ii. He became the Prime Minister of Mauritius for the sixth time following victory of his alliance in Mauritius elections 2014.
iii. Jugnauth replaced Prime Minister Navinchandra Ramgoolam of Labour Party, who resigned as the Prime Minister on 13 December 2014.

Read more:

Monday, December 15, 2014


Mon, Dec 15, 2014 | 05:28 PM IST

Daily Newsletter

Work for company with over 10 staff? Soon be eligible for EPF
Replying to another question, the Minister said that at present there is no proposal to provide any minimum wage pens...
November WPI inflation at 66-month low of 0.0%
Rajan may have to consider a rate cut ahead of the next policy announcement, with production in dire straits & retail...
Sydney siege: Australian gunman demands IS flag, wants to talk to PM Abbott
The gunman said two bombs are planted inside the cafe and the others elsewhere in Central Business District, Sky News...
Railways adopt new technology to prevent accidents
In 2013-14, Rs 39,090 crore were spent on safety related activities. The budgetary estimates for 2014-15 for safety a...
It's no longer Samsung versus Apple in China: Here's how Xiaomi has taken the No. 1 positionIt's no longer Samsung versus Apple in China: Here's how Xiaomi has taken the No. 1 position
Founded in 2010 as a lean startup to sell smartly designed phones at cheap prices over the Internet, Xiaomi was decid...
read more
7 smart ways to reduce loan burden without stressing your wallet » 
Tata’s Mistry to sharpen focus on Indian consumers » 
Thai Princess Srirasmi steps down from royal post: Palace
With $60 for oil, $40 seems a likely possibility. Here's what it means for India
TCS prepares for restructuring; may ask non-performers to leave
Government readies to get states back GST; Arun Jaitley to meet state finance ministers
We have to give Narendra Modi government some more time...
Jack W Lin ,Head, Asia-Pacific, Middle East and Africa,Pioneer Investments


Top 10 expensive stocks based on P/E multiple; do you own them?
If P/E multiple has risen considerably while earnings have remained the same, there is a higher chance that the stock...
Brent edges up to $62.35 after earlier crash in volatile trade
US crude for January delivery was trading at 58.25 a barrel, up 44 cents, after hitting a low of $56.25 earlier in th...
'2 states agree to implement Labour Ministry's wider access initiative'
"The governments of Karnataka and Chhattisgarh have agreed to implement the initiative on pilot basis and accordingly...
Rains, lower temperature to boost planning of wheat, other rabi crops
According to data from the agriculture ministry, total area covered under rabi – or winter-sown – crops was 6.5% less...
Market Watch
15 Dec | 05:28PM
GOLD (Rs/10g.)
Nifty ends in red for third session;rupee slips near 63/$
The 50-share index closed at 8,219.60, down 4.50 points or 0.05 per cent. It touched a high of 8,242.40 and a low of ...
Brokerages bullish on TCS even as management cautious on outlook
A cautious view on growth by TCS has not changed brokerages’ views on the stock, with most of them maintaining a bull...


Computer Question Asked in IBPS Clerk -IV
(6-Dec-2014 Evening Shift)
DOS stands for______.
(1) Disk Operating System
(2) Data Operating System
(3) Distance Operating System
(4) Digit Operating System
(5) Date Operating System
A. (4) DOS stands for Disk Operating System.
______ is a non-graphical command line operating system.
(1) DOS
(3) Linux
(4) Unix
(5) Window 8
A. (1) DOS (Disk Operating System)
______ moves the cursor to the beginning of a line or formula inside a cell in Excel.
(1) Ctrl + Home
(2) Ctrl + End
(3) ALT + Home
(4) CALT+SHIFT+ Home
(5) None of these
A. (1) CTRL + HOME
Which of the following is not an output device?
(1) Monitor
(2) Printer
(3) Speakers
(4) Keyboard
(5) Plotter
A. (4) Keyboard
Which of the following is an operating system you would be using on the computer?
(1) Internet Explorer
(2) Netscape
(3) Microsoft Windows
(4) Microsoft Word
(5) Microsoft Office
A. (3) Microsoft Windows
Which of the following is not an pointing device?
(1) Keyboard
(2) Monitor
(3) Joystick
(4) Microphone
(5) Mouse
A. (5) Mouse
In Excel , key combination that is used to select a row is _____
(4) CTRL + A
(5) None of these
WAN stands for ______.
(1) Wide Area Network
(2) Wise Area Network
(3) Wild Area Network
(4) Wan Area Network
(5) None of these
A. (1) WAN stands for Wide Area Network.
Which of the following is not a binary number?
(1) 1010
(2) 1100
(3) 122
(4) 0001
(5) 11000
A. (3) 122
Which of the following is smallest unit?
(1) KB
(2) MB
(3) TB
(4) Byte
(5) Bit
A. (5) Bit
LSI stands for ______.
(1) Large Scale Integration
(2) Logical system integration
(3) Largest Scale Integration
(4) Logical Scale Integration
(5) None of these
A. (1) Large Scale Integration
VIRUS stands for ______.
(1) Vital Information Resources Under Siege
(2) Vital Inter Resources Under Siege
(3) Vital Information Recall Under Siege
(4) Vital Information Record Under Siege
(5) Vital Interconnected Resources Under Siege
A. (1) Vital Information Resources Under Siege
Physical components that make up your computer are known as:
(1) Software
(2) Operating Systems
(3) Web Browsers
(4) Hardware
(5) None of these
A. (4) Hardware
Which of the following companies is famous for manufacturing computer processors?
(1) Sony
(2) Macromedia
(3) Corel
(4) Intel
(5) None of these
A. (4) Intel
Which of the following will you require to hear music on your computer?
(1) Sound Card
(2) Video Card
(3) Mouse
(4) Joy Stick
(5) None of these
A. (1) Sound Card
Approximately how many bytes make one Megabyte?
(1) Ten Thousand
(2) One Thousand
(3) One Hundred
(4) One Million
(5) None of these
A. (4) One million
Linux is ______.
(1) An non profit organization
(2) An Operating System
(3) Web Server
(4) A Web Browser
(5) None of these
A. (2) Linux is an operating system.
Microsoft Windows is ______
(1) A Spreadsheet Package
(2) A Web Server
(3) An Operating System
(4) A Web Browser
(5) Application Software
A. (3) Operating System
Internet Explorer is a _______.
(1) Web Browser
(2) Any person browsing the net
(3) News Reader
(4) Graphing Package
(5) None of these
A. (1) Web Browser
What software allows you to view internet sites?
(1) A cyber café
(2) A browser
(3) A modem
(4) Your computer
(5) None of these
A. (2) A Browser software allows you to view internet sites.

Why the oil price is falling???

The Economist explains
Why the oil price is falling???
THE oil price has fallen by more than 40% since June,
when it was $115 a barrel. It is now below $70. This
comes after nearly five years of stability. At a meeting
in Vienna on November 27th the Organisation of
Petroleum Exporting Countries, which controls nearly
40% of the world market, failed to reach agreement on
production curbs, sending the price tumbling. Also
hard hit are oil-exporting countries such as Russia
(where the rouble has hit record lows), Nigeria, Iran
and Venezuela. Why is the price of oil falling?
The oil price is partly determined by actual supply and
demand, and partly by expectation. Demand for energy
is closely related to economic activity. It also spikes in
the winter in the northern hemisphere, and during
summers in countries which use air conditioning.
Supply can be affected by weather (which prevents
tankers loading) and by geopolitical upsets. If
producers think the price is staying high, they invest,
which after a lag boosts supply. Similarly, low prices
lead to an investment drought. OPEC’s decisions shape
expectations: if it curbs supply sharply, it can send
prices spiking. Saudi Arabia produces nearly 10m
barrels a day—a third of the OPEC total.
Four things are now affecting the picture. Demand is
low because of weak economic activity, increased
efficiency, and a growing switch away from oil to other
fuels. Second, turmoil in Iraq and Libya—two big oil
producers with nearly 4m barrels a day combined—has
not affected their output. The market is more sanguine
about geopolitical risk. Thirdly, America has become
the world’s largest oil producer. Though it does not
export crude oil, it now imports much less, creating a
lot of spare supply. Finally, the Saudis and their Gulf
allies have decided not to sacrifice their own market
share to restore the price. They could curb production
sharply, but the main benefits would go to countries
they detest such as Iran and Russia. Saudi Arabia can
tolerate lower oil prices quite easily. It has $900 billion
in reserves. Its own oil costs very little (around $5-6
per barrel) to get out of the ground.
The main effect of this is on the riskiest and most
vulnerable bits of the oil industry. These include
American trackers who have borrowed heavily on the
expectation of continuing high prices. They also
include Western oil companies with high-cost projects
involving drilling in deep water or in the Arctic, or
dealing with maturing and increasingly expensive
fields such as the North Sea. But the greatest pain is in
countries where the regimes are dependent on a high
oil price to pay for costly foreign adventures and
expensive social programmes. These include Russia
(which is already hit by Western sanctions following its
meddling in Ukraine) and Iran (which is paying to keep
the Assad regime afloat in Syria). Optimists think
economic pain may make these countries more
amenable to international pressure. Pessimists fear
that when cornered, they may lash out in desperation.
Dig deeper:
The economics of oil have changed .

thanks Rohit Dhandapat --facebook



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