WELCOME

We at bankerfactory.in welcomes you to our exclusive blog for those who are preparing for Bank Interviews seriously.

BANKING AND FINANCIAL TERMS

Banking and Financial terms which would be asked during Bank Interviews.

FACING A BANK INTERVIEW

We will provide you detailed analysis of everything that you need to learn before a Bank Interview.

INTERVIEW TIPS

What all you need to take care before appearing for the bank interview.

BODY LANGUAGE

Tips to improve your Body Language.

Wednesday, 18 June 2014

ENGLISH TEST SERIES KEY


ANSWER KEY

ENGLISH TEST SERIES 1-



1
b
2
c
3
c
4
d
5
a
6
a
7
b
8
c
9
c
10
b




ENGLISH TEST SERIES 2-

1
little
2
little
3
few
4
few
5
few
6
few
7
few
8
few
9
few
10
little











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Monday, 16 June 2014

India should gradually reduce fiscal deficit: IMF- WHAT IS FISCAL DEFICIT?




Every year, the Government puts out a plan for it's income and expenditure for the coming year. This is, of course, the annual Union   Budget.

"A  budget   is   said   to   have   a   fiscal deficit   when   the   Government's   expenditure   exceeds it's income." 

When   this   happens,   the   Government   needs additional   funds. The Government can arrange these funds by borrowing. The   Government can borrow either from the citizens themselves or from other countries or organizations like the World Bank or the IMF. The money borrowed by a nation's Government is called   public debt. As on any other debt,   the   Government   promises   to   pay   a   certain   rate   of interest.

To pay this interest in the future, the Government has three options:
  1. increase   the   amount   of   taxes   collected   by increasing the tax rates;
  2. help   stimulate   economic   growth   so   that   tax collection automatically increases with it; or
  3. print   new   currency   notes   to   pay   back   the   debt   – also called debt monetization. 
The first option is not desirable. That leaves   the   second   and   third   options.   While   the   second option sounds like the best one, it is easier  than said  done.  The third option is dangerous and can act like an unfair and invisible tax on the people of a country. The effect of debt monetization is inflation, which acts  like an invisible tax on all the people of a country.  

Fiscal deficit is not necessarily a bad thing. However, large and persistent fiscal deficit can be an indication of several worrying signs in the economy.  

It can   mean   that   the   Government   is   spending   money   on unproductive programmes which do not increase economic productivity.   It   can   also   mean   that   the   tax   collection machinery is not effective so that a significant proportion of people get away without paying their due taxes. 

In any case, large fiscal deficit significantly increases  the chances of inflation in the economy  which is an invisible tax on every citizen.  In milder forms, high inflation and a large fiscal deficit lead to a weaker national currency (imports become expensive) and reduce the credit­worthiness of the country.

VISIT: 

Friday, 13 June 2014

RBI to come out with Payment Bank soon- WHAT IS A PAYMENT BANK?

WHAT IS A PAYMENT BANK?

Shri. Nachiket Mor, Head of the Panel on Financial Inclusion of Small Businesses and Low-Income Households.
A Reserve Bank of India (RBI) panel on Financial Inclusion of small businesses and low-income households in India headed by Shri. Nachiket Mor, has recommended that a special category of banks, called Payments Banks, be set up to widen the spread of payment services and deposit products to small businesses and low-income households in Asia’s third-largest economy, where about 40% of the population still do not have access to formal financial services.

A Payment Bank will provide deposit and payment services but can't lend. Such banks will have a minimum entry capital requirement of Rs.100 crore, one-fifth of what a full-service bank requires, since they will have a near-zero risk of default. Payments banks will be required to comply with all RBI guidelines relevant for commercial banks. Existing banks should be permitted to create a payments bank as a subsidiary.


Visit:


http://www.thehindu.com/business/rbi-sets-rs100-cr-floor-capital-for-payments-small-banks/article6221623.ece


 http://www.thehindu.com/business/Economy/rbi-to-come-out-with-payment-bank-soon/article6108258.ece

Monday, 12 May 2014

SOME USEFUL BOOKS MAGAZINES



BOOKS


VISIT: http://www.flipkart.com/modern-approach-verbal-reasoning-2nd/p/itmdytg92gkwmzdg?pid=9788121905527&otracker=from-search&srno=t_4&query=r.s+aggarwal&ref=66004d79-2e04-4ba8-977b-45645bbae571


VISIT: http://www.flipkart.com/modern-approach-logical-reasoning-aggarwal-r-s-author-english-s-chand-publishing-paperback-edition-1st-1st/p/itmdytg9hf5bzwff?pid=9788121919050&otracker=from-search&srno=t_1&query=r.s+aggarwal&ref=66004d79-2e04-4ba8-977b-45645bbae571


VISIT: http://www.flipkart.com/quantitative-aptitude-competitive-examinations-24th/p/itmdytga2sgpggmg?pid=9788121924986&otracker=from-search&srno=t_1&query=r.s+aggarwal+aptitude+book&ref=a5b9f81c-cdae-4a9b-bee1-dce3c2b0788a



VISIT: http://www.flipkart.com/previous-papers-ibps-common-written-exams-bank-po-mt-detailed-solutions/p/itmdyv7d8qatwrdj?pid=9788190458986&otracker=from-search&srno=t_8&query=IBPS&ref=b2d9da78-06f1-4203-9e54-4e1ba245fc8e


VISIT: http://www.flipkart.com/objective-computer-knowledge-literacy-2350-questions/p/itmdz4yzh84jzsq8?pid=RBKDYZTNCADVKBBQ&otracker=latest-item



MAGAZINES

VISIT: http://www.bscacademy.com/CurrentIssueOfYear.aspx

JAIIB- Junior Associate of the Indian Institute of Bankers

 

VISIT: http://www.flipkart.com/jaiib-principles-practices-banking-english-2ndreprint/p/itmczyxuszajfpcg?pid=9780230636118&otracker=from-search&srno=t_1&query=jaib&ref=b75907b2-4a65-4ca9-879a-d1e14b223024

 
VISIT: http://www.flipkart.com/jaiib-accounting-amp-finance-bankers-english-2nd/p/itmczyxutkhftjyq?pid=9780230636125&otracker=from-search&srno=t_2&query=jaib&ref=b75907b2-4a65-4ca9-879a-d1e14b223024


VISIT: http://www.flipkart.com/jaiib-legal-amp-regulatory-aspects-banking-english-2ndreprint/p/itmczyxueayfaggg?pid=9780230636101&otracker=from-search&srno=t_3&query=jaib&ref=b75907b2-4a65-4ca9-879a-d1e14b223024

VISIT: http://www.flipkart.com/j-a-i-i-b-d-b-f-workbook-principles-practices-banking-accounting-finance-bankers-legal-regulatory-aspects-banking-english-1st/p/itmdyu3gwkpg72wn?pid=9788171946471&otracker=from-search&srno=t_4&query=jaib&ref=b75907b2-4a65-4ca9-879a-d1e14b223024


Disclaimer: Books suggested in the above list are only opinions of a few candidates who prepared for the exams. We do not act in any way as promoters of these publishers or books. Visitors must exercise their own care and judgement with respect to its use.

Tuesday, 6 May 2014

BE CONFIDENT AND SAY "YES I WILL BECOME A BANKER"

During our casual talks with those Bank Job Aspirants the thing which came to our notice was that they lack what is being mentioned in the above title. We find that most of the bank aspirants want to be a banker just because their parents wants them to have a go at the bank exam. Or sometimes some of their friends might have enrolled for Bank Coaching, 'so why cant all the the friends go together and just chill out'. What finally happens is those who are serious in their studies get through and the rest of the lot will be addressed by the newcomers as well as by the faculty at the institute as 'Seniors'.There are even instances when the 'Seniors are classified as 2 year senior, 4 year senior and like wise. The question is do you want yourself to be called as a 'Senior'.

Well we hope the answer is a big No. The first thing you want is the 'Fire' within you, the desire to get a job. It should be you telling the world  "YES I WILL BECOME A BANKER" and not your parents telling you that you too can become a banker. For that the first thing one should have is ' a liking for the job and a desire to serve the public at large'. Yes indeed a Banker's job is a service to the society. For that you will definitely see many Eyes that thank you for the job you do even though they know that you are being paid to offer them service.

By no means is a bank job the easiest in the market if you have such a perception. A bank job is very demanding and hectic as you need to smile at the people you meet without taking into consideration whether the customer was hard at your ears or was soothing as a Melody. You may be forced to work till 8.00 or 9.00 in the evening. Then why is bank job the most wanted profession in India now. One of the main attraction is that every year in India atleat 50,000 'freshers, are being absorbed by the Banks. But do you know how many try their luck in bank exams, over 10,00,000. That is 5% of the Ten lakh 'aspirants' get a bank job or to make it simple only 5 out of 100 people who attend bank exams gets a job. This shows you need to be 'very very special' to become a banker.

So all you need is to become such a person is pure 'dedication', in what you do in order to be successful in a bank exam. You need to dedicate your energy, your time and most importantly your mind. The mantra is practice, practice and practice. Try to do as many questions 'both which are asked previously and those you can access through various Magazines, before attending a Bank Exam. Other thing is to have excellent rapport with all the people in your institute or locality who have the same 'Goal'. To be competitive in any exam we feel a group of people can do wonders when compared to a single person trying on his own. The advantage is that you can share Resources like book, ideas, and even short-cuts on how to solve a maths problem. Other thing each person can concentrate on a particular area. For instance a person good at English grammar can  be asked to share some light on finding grammatical errors. On the general awareness section questions are being asked from Banking and current affairs. So make it a practice to read newspapers every day. The trend seen now is that questions asked in General awareness section happens to be those events which occurred with a span of  3 to 4 months. For that matter Magazines like Banking & you for eg: provide a brief of what had  occurred in a months time.

Other important thing is knowledge of practical banking. You need to know what is happening daily in a bank, what are the type of transactions, which are the type of accounts etc.. etc... You need to also know what you are supposed to 'DO' as a Bank clerk/P.O.

So we urge you to visit retail bank branches, interact with the people working, and their try to know their duties, responsibilities and also about their career growth. We also would like you to do do various off branch transactions like On-line debit card payment, Internet banking, How to open a bank account, a Fixed deposit etc... these knowledge will definitely help during the coarse of your bank test and Interview as well, as questions like 'what are the different stages in a internet banking transaction' were asked during Interviews.

So we urge you to go out and  make comments on your experiences. We want you to comment on what are the different counters/departments in a Bank Branch, The number of staff, their duties, etc. You can even clarify your doubts regarding Banking, all you need is just ask the question in the comments section and We are here to serve you with all our hearts...