Post Office Savings Schemes In India - Introduction of Post Office Recurring Deposit Account (RDA)

The main financial services offered by the Department of Posts are the Post Office Savings Bank. It is the largest and oldest banking service institution in the country. The Department of Posts operates the Post Office Savings Scheme function on behalf of the Ministry of Finance, Government of India. Under this scheme, more than 20.50 crores savings account are operated. These accounts are operated through more than 1,54,000 post offices across the country.

The Post offices provide a number of savings schemes like the Savings Account Schemes, Recurring Deposit Schemes, Time Deposit Schemes, Public Provident Fund Schemes, Monthly Income Schemes, National Savings Certificates, Kisan Vikas Patras, and Senior Citizens Savings Scheme. A brief of the various schemes is as follows:

Scheme	Interest Rates	Tenure	Investment Denominations and limits	Salient Features	Tax rebate
Post Office Savings Account	3.5% p.a. On individual and joint account	No specific or fix tenure	Min: Rs. 50 Max: Rs. 1 lakh for individual and 2 lakhs for joint account	Cheque facility available	Interest is tax-free u/s 80L
5-Year Post Office Recurring Deposit Account	7.5% compounded quarterly	5 years. Can be renewed for another 5 years	Min: Rs. 10 per month or multiples of Rs. 5 Max: No limit	One withdrawal up to 50% of the balance is allowed after one year. Full maturity value allowed on R.D. 6 & 12 months advance deposits earn rebate.	No tax rebate
Post Office Time Deposit Account	6.25%	1 year	Min: Rs. 200 and its multiple thereof Max: No limit	Long-term accounts could be closed after 1 year for discounted interest. Accounts could be closed after 6 months but before a year for no interest. Interest is calculated quarterly but payable yearly.	Investment qualifies for deduction u/s 80C. Interest is tax-free u/s 80L
	6.50%	2 years
	7.25%	3 years
	7.50%	5 years
Post Office Monthly Income Account	8% p.a.	6 years	Min: Rs. 1500 per month or multiples of it.Max: Rs. 4.5 lakhs for individual account and Rs. 9 lakhs for joint account	Account if closed after 1 year but before 3 years will suffer a deduction of 2% of the deposit. Account if closed after 3 years will suffer a deduction of 1% of the deposit. On maturity, bonus of 5% on principal amount is admissible	Interest is tax-free u/s 80L
15-year Public Provident Fund Account	8% p.a. compounded yearly	15 years tenure	Min: Rs. 500 in 1 year Max: Rs. 70000 in 1 year Deposits can be made in lump-sum or 12 installments	Withdrawal can be made every year after the 7th financial year. From the 3rd financial year, loan can be availed against PPF. No attachment under court decree order.	Investment qualifies for deduction u/s 80C. Interest is tax-free u/s 80L
Kisan Vikas Patra	8.4% compounded yearly. Money doubles in 8 years and 7 months	---	No limits. Investment denominations available are of Rs. 100, Rs. 500, Rs. 1000, Rs. 5000, Rs. 10,000, in all Post Offices and Rs. 50,000 in all Head Post Offices.	A single holder certificate can be purchased by an adult. A certificate can also be purchased jointly by two adults.	No tax benefits
National Savings Certificate (VIII issue)	8% p.a. compounded half-yearly but payable after maturity	6 years	Min: Rs. 100. Also available in denominations of Rs. 100/-, 500/-, 1000/-, 5000 & Rs. 10,000/-. Max: no limit	A single holder certificate can be purchased by an adult.	Investment as well as the interest deemed to be re-invested qualifies for deduction u/s 80C.
Senior Citizens Savings Scheme	9% p.a.	5 years	Only 1 deposit allowed in multiple of Rs. 1000. Max is Rs. 15 lakhs	Age should be above 60 years or 55 years above if retired under superannuation. Account if closed after 1 year will suffer a deduction of 1.5% interest and after 2 years will suffer a deduction of 1% interest. TDS is made on interest if it exceeds Rs. 10000 p.a.	Investment qualifies for deduction u/s 80C.

Will talk about
Post Office Recurring Deposit Account (RDA)

A Post-Office Recurring Deposit Account (RDA) is a banking service offered by Department of post, Government of India at all post office counters in the country. The scheme is meant for investors who want to deposit a fixed amount every month, in order to get a lump sum after five years. The scheme, a systematic way for long term savings, is one of the best investment option for the low income groups.

Features:

The minimum investment in a post-office RDA is Rs 10 and then in multiples of Rs. 5/- for a period of 5 years. There is no prescribed upper limit on your investment.
The deposit shall be paid as monthly installments and each subsequent monthly installment shall be made before the end of the calendar month and shall be equal to the first deposit. In case of default in payment, a default fee is chargeable for delayed deposit at 0.20 Paise per month of delay, for Rs.10 Denomination. After more than four defaults, the account shall be treated as discontinued in case the account is not revived within two months from the fifth default.
For Advance deposits for 6 months or 12 months, a rebate is allowed at the prescribed rate (For Rs 10 denomination:- Rs.1/- for 6 advance deposits, Rs.4/- for 12 advance deposits.
One withdrawal is allowed after one year of opening a post-office RDA on meeting certain conditions. You can withdraw up to half the balance lying to your credit at an interest charged at 15%. The withdrawal or the loan may be repaid in one lump or in equal monthly installments.
Premature closure is allowed on completion of three years from the date of opening and in such case, interest is payable as per the rate applicable for the Post Office Savings Bank Account.
After maturity of the account, it can be continued for a further period of 5 years with or without further deposits. During this extended period, the account can be closed at any time.

Returns:
The post-office recurring deposits offers a fixed rate of interest, currently at 7.5 per cent per anum compounded quarterly.

Monthly Investment	Total Investment(60months)	Money returned on Maturity (after 60 months)
10	600	728.90
20	1,200	1457.80
50	3,000	3644.50
100	6,000	7289.00
500	30,000	36445.00
1000	60,000	72890.00
1375	82,500	100224.00
5000	3,00,000	364450.00

Advantages:
The post office offers a fixed rate of interest unlike banks which constantly change their recurring deposit interest rates depending on their demand supply position. As the post office is a department of the government of India, it is a safe investment. The principal amount in the Recurring Deposit Account is assured. Moreover Interest earned on this account is exempted from tax as per Section 80L of Income Tax Act.

How to Start Post office RDA:
A post-office RDA can be opened at any post office in the country by filling up the appropriate forms. The account can be opened by an individual adult as a single person account, two adults in a joint mode, or by a guardian on behalf of the minor who has attained the age of 10 years in his own name. A pass book is issued at the time of opening the account. If there is a loss, theft or the passbook is mutilated, a duplicate is issued on a charge. The deposit can be made personally at the particular post office every month or can be made through an appointed agent, who would collect the money from you and enter the same in your passbook.

101. A contented mind is a continual feast. Greed and material desires must be curbed to achieve lasting happiness and serenity. Be happy with what you have. Do you really need all of those material possessions? One can develop contentment just as one develops patience, courage and concentration - with daily practice and sincere desire.

102. Make a new friend or acquaintance every day. Keep an updated list of all contacts close at hand. Rich relationships are the DNA of a rich, rewarding life.

103. Remember this ancient Indian proverb: "if you conquer your mind, you conquer the world."

104. Place greater importance on staying happy than amassing material possessions. A zest for life is developed and carefully nurtured through thoughtful activities and pursuits.

105. Contrary to popular opinion, stress is not a bad thing. It allows us to perform at peak levels and can assist us through the flood of chemicals it releases within our bodies. What is harmful is too much stress, or more particularly, a lack of relief from stress. The times of stress must be balanced nicely with times of pure relaxation and leisure for us to be healthy and at our best. Many of the great leaders of our time were exposed to crushing workloads and the burdens of high office. But they prospered by developing strategies to balance the challenging times with fun and calming times.

President Kennedy would have regular naps in his White House office. Winston Churchill had the same practice and slept for one hour every afternoon to stay alert, focused and calm. Not only is it essential to be physically relaxed to maintain optimal health but one must couple this trait with mental serenity. Too often people think that vigorous exercise, good nutrition and pleasant leisure activities will be the panacea for all ills. These pursuits must be combined with positive thinking and peace of mind for true happiness and longevity.

106. Get into the habit of taking mental vacations throughout the day. Visit Bermuda for five minutes in the morning. Visualize a swim in the Mediterranean in the afternoon and skiing down the slopes of the Alps just before you head for home at the end of your busy and productive day. Try this for two months and schedule these rest periods into your agenda just as you would your essential meetings or tasks. The rewards will be significant.

107. A change is as good as a rest. Whether this change is as major as a change of employment or as minor as a leisure pursuit which occupies your entire attention for an hour three times a week, these changes in routine, and mindset are entirely beneficial. In selecting the activity, try to find something totally engaging which requires deep concentration so that your mind is free from the mundane but seemingly important aspects of your day. Many executives are becoming involved in the martial arts for just this reason. If your mind wanders for even a split second, a harsh lesson is soon learned. Pain is a great motivator and always will be.

108. Study these 10 fundamentals of happiness:
i. Pursue a productive, exciting and active life
ii. Engage in meaningful activities every minute of every day
iii. Develop an organized, planned lifestyle with little chaos
iv. Set realistic goals yet keep your mark high
v. Think positively - you cannot afford the luxury of a negative thought
vi. Avoid needless worry over trifling matters
vii. Devote time to fun
viii. Develop a warm, outgoing personality with a sincere love of people
ix. Get in the habit of giving more than receiving
x. Learn to live in the present. The past is water under the bridge of life.

109. Strive to be humble and live a simple life.

110. Read "A History of Knowledge" by Charles Van Doren which chronicles the history of the world's ideas. In this one book is an absolute wealth of knowledge. Get it, read it and enjoy it.

111. Read "The Art of the Leader" by William A. Cohen. It is both inspirational and practical.

112. Develop that elusive quality known as charisma. The following are ten qualities of a charismatic leader:

• Be committed to what you are doing
• Look like a winner and act like one
• Have big dreams, a vision and reach for the sky
• Steadily advance in the direction of your goals
• Prepare and work hard at every task you do
• Build a mystique around yourself
• Be interested in others and show kindness
• Have a strong sense of humour
• Be known for the strength of your character
• Have grace under pressure. (John F. Kennedy said that "the elusive half-step between middle management and true leadership is grace under pressure.")

113. In work, love and life, play hard and play fair.

114. Do not talk when you are listening. Interrupting is one of the most common discourtesies. Listen aggressively with the full scope of your attention. You will be amazed at what you learn and how your counsel will soon be sought by many.

115. "Anybody can become angry - that is easy; but to be angry with the right person, and to the right degree, and at the right time, and for the right purpose, and in the right way - that is not within everybody's power and is not easy." - Aristotle

116. Knowledge is power. People who have achieved great success are not necessarily more skillful or intelligent than others. What separates them is their burning desire and thirst for knowledge. The more one knows, the more one achieves. Great leaders have techniques to allow them to arrive at the top of the mountain. Read the biographies of the world's leaders and learn from their habits, inspirations and philosophies. Cultivate the important practice of active role modelling.

117. All the answers to any questions are in print. How to improve as a public speaker, how to improve your relations with others, how to become fitter or develop a better memory - all aspects of personal development are dealt with in books. Therefore, in order to achieve your maximum potential, you must read daily. But, in this age of information, you must be ruthless in what you consume. Focus on your goals and read only those materials that will be an asset to you. Do not attempt to read everything for you are busy and have other tasks at hand. Choose what is important and filter out what is of no value. Begin with a solid newspaper every morning for an excellent summary of the key events of the day.

Also ensure that your readings are broadly based. For example, perhaps you may wish to read history, business, Eastern philosophy, health books etc. Then go to the library and develop the habit of making regular visits. Read the classics from Hemingway to Bram Stoker. Read history, with all its lessons on life and read biology for a new perspective.

Look under the heading of "success" at the library and you will be amazed at the literature you will find: inspirational stories of people who developed greatness in the face of adversity, strategies for improving yourself physically, mentally and spiritually and texts to tap the unlimited power for success that certainly exists within us. Drink deeply from such books. Surround yourself with them and read them constantly whether on the bus each day or before you go to bed. Let them inspire and motivate you.

118. Get into the habit of breakfast meetings. An early meal to touch base with a friend or business associate is a most pleasant way to start the day and allows you to maintain your contacts in the face of a busy schedule.

119. If you live in a flat, always ensure that it is very bright and has a swimming pool. A pool is especially important because it will allow you to exercise no matter how busy your schedule. There is nothing like a refreshing swim after a long, productive day. You will feel excellent and sleep like a baby.

120. "Excellence is an art won by training and habituation. We do not act rightly because we have virtue or excellence, but rather we have those because we have acted rightly. We are what we repeatedly do. Excellence, then, is not an act but a habit." - Aristotle

All Links of Top 200 Secrets of Success:

SBI Invite online Applications from Eligible candidates to fill the 3100 clerk jobs across India.

The last date to submit application through online is 20 th, January, 2012. And Online Registration starts from 28 th, December, 2011.

There are 2500 Regular vacancies for SC/ST/OBC Candidates and 600 Posts for North East circle.

Education Qualifications Required:
Candidate must have minimum of Intermediate(10+2) or any Degree from any Recognized University

Application Fee:
The Application fee is Rs. 350 for general and OBC Candidates
Rs. 50 for SC/ST Candidates.

How to Apply:
Candidates have to Download Challan form from SBI official website.After paying the application fee,have to Apply through online by submitting all challan form and Personal Details.

Important Dates:
Online Registration Starts from: 28-12-2011
Last date to Apply online: 20-01-2012
Written Exam date:18-03-2012
Payment of fee: 30-12-2011 to 25-01-2012
Download of Call letter from: 05-03-2012

CLICK HERE TO DOWNLOAD DETAILED ADVERTISEMENT
CLICK HERE TO APPLY ONLINE(Please read the detailed advertisement before applying)

Exam Pattern:

The questions of the SBI Clerk Written Test are all objective type.
The exam consists of the following papers:
1. Quantitative Aptitude.
2. General Awareness.
3. Reasoning Ability.
4. General English.
5. Marketing Aptitude / Computer Knowledge.

There is also a provision for negative marking. For each wrong answer attempted one-fourth mark is deducted. This is applicable for all the objective questions in all the papers mentioned above. So the candidates must be cautious before attempting a question. The questions which one is not sure about should not be attempted.

The candidates sitting for the exam have to pass in each of the papers separately and also have to score at least 40% marks in aggregate, i.e., all the tests considered together. The percentage required by SC/ST/PWD/XS candidates is 35% in aggregate.SBI sends the Acquaint Yourself booklet with the call letter for the written test. All the detailed information and guidelines for the exam are given in this booklet.
The study material for the exam is available in market or can be obtained online.

Download Study Material:

More Material:

State Bank of India (SBI) History

The evolution of State Bank of India can be traced back to the first decade of the 19th century. It began with the establishment of the Bank of Calcutta in Calcutta, on 2 June 1806. The bank was redesigned as the Bank of Bengal, three years later, on 2 January 1809. It was the first ever joint-stock bank of the British India, established under the sponsorship of the Government of Bengal. Subsequently, the Bank of Bombay (established on 15 April 1840) and the Bank of Madras (established on 1 July 1843) followed the Bank of Bengal. These three banks dominated the modern banking scenario in India, until when they were amalgamated to form the Imperial Bank of India, on 27 January 1921.

An important turning point in the history of State Bank of India is the launch of the first Five Year Plan of independent India, in 1951. The Plan aimed at serving the Indian economy in general and the rural sector of the country, in particular. Until the Plan, the commercial banks of the country, including the Imperial Bank of India, confined their services to the urban sector. Moreover, they were not equipped to respond to the growing needs of the economic revival taking shape in the rural areas of the country. Therefore, in order to serve the economy as a whole and rural sector in particular, the All India Rural Credit Survey Committee recommended the formation of a state-partnered and state-sponsored bank.

The All India Rural Credit Survey Committee proposed the take over of the Imperial Bank of India, and integrating with it, the former state-owned or state-associate banks. Subsequently, an Act was passed in the Parliament of India in May 1955. As a result, the State Bank of India (SBI) was established on 1 July 1955. This resulted in making the State Bank of India more powerful, because as much as a quarter of the resources of the Indian banking system were controlled directly by the State. Later on, the State Bank of India (Subsidiary Banks) Act was passed in 1959. The Act enabled the State Bank of India to make the eight former State-associated banks as its subsidiaries.

The State Bank of India emerged as a pacesetter, with its operations carried out by the 480 offices comprising branches, sub offices and three Local Head Offices, inherited from the Imperial Bank. Instead of serving as mere repositories of the community's savings and lending to creditworthy parties, the State Bank of India catered to the needs of the customers, by banking purposefully. The bank served the heterogeneous financial needs of the planned economic development.

Branches
The corporate center of SBI is located in Mumbai. In order to cater to different functions, there are several other establishments in and outside Mumbai, apart from the corporate center. The bank boasts of having as many as 14 local head offices and 57 Zonal Offices, located at major cities throughout India. It is recorded that SBI has about 10000 branches, well networked to cater to its customers throughout India.

ATM Services
SBI provides easy access to money to its customers through more than 8500 ATMs in India. The Bank also facilitates the free transaction of money at the ATMs of State Bank Group, which includes the ATMs of State Bank of India as well as the Associate Banks – State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Indore, etc. You may also transact money through SBI Commercial and International Bank Ltd by using the State Bank ATM-cum-Debit (Cash Plus) card.

Subsidiaries
The State Bank Group includes a network of eight banking subsidiaries and several non-banking subsidiaries. Through the establishments, it offers various services including merchant banking services, fund management, factoring services, primary dealership in government securities, credit cards and insurance.

The eight banking subsidiaries are:
State Bank of Bikaner and Jaipur (SBBJ)
State Bank of Hyderabad (SBH)
State Bank of India (SBI)
State Bank of Indore (SBIR)
State Bank of Mysore (SBM)
State Bank of Patiala (SBP)
State Bank of Saurashtra (SBS)
State Bank of Travancore (SBT)

Products And Services

Personal Banking:
SBI Term Deposits SBI Loan For Pensioners
SBI Recurring Deposits Loan Against Mortgage Of Property
SBI Housing Loan Loan Against Shares & Debentures
SBI Car Loan Rent Plus Scheme
SBI Educational Loan Medi-Plus Scheme

Other Services:
Agriculture/Rural Banking
NRI Services
ATM Services
Demat Services
Corporate Banking
Internet Banking
Mobile Banking
International Banking
Safe Deposit Locker
RBIEFT
E-Pay
E-Rail
SBI Vishwa Yatra Foreign Travel Card
Broking Services
Gift Cheques

Contact
State Bank Of India
Corporate Centre
Madam Cama Road
Mumbai 400 021, India
Website: www.statebankofindia.com

Corporation Bank has published the notification for Recruitment of Probationary Officers (PO) or Management Trainee with bank through IBPS CWE Weighted Scorecard. All the successful candidates of CWE who got the TWS of IBPS CWE Score of 151+ with Individual Sectional cutoff of 25.

General Eligibility Criteria of CWE Scorecard holder for Corporation Bank Recruitment.

Number of Vacancy :
For General : 194 (for PWD : 37)
For SC: 45
For ST: 23
For OBC: 93

Important Dates :
Date of Online Application : 03-01-2012 To 17-01-2012

IBPS CWE Scorecard:
For General : 151+
For Others : SC/ST : 126 , OBC : 141 , PWD : 106

Other than , It is essential for candidates to score minimum 25 marks in each section of Exam for General candidates and Minimum of 21 for Others

Degree Level : Min 55% Marks at degree level.

Application Fees :
For General category : Rs 200 , For Others : Rs 50 : Fees should be paid via bank challan or through NEFT Payment.

Selection Procedure:
All the candidates with CWE score of 151+ will be called for the Interview depends on the number of candidates available via merit ranking. There will be separate marks of interview which will be of 100 marks. Each candidates from general category to score minimum of 40 marks to qualify for interview (35 for others).

Based on the total marks scored in Interview and CWE score weighted, the final list will be declared for selection.

How To Apply:
Candidates need to apply online through Corporation Bank Website , Pay the fees through challan/ NEFT. Download the online application and fees challan, which will be essential documents, without this candidates will not be allowed for the Interview.

Download the Detail Application: Click Here
Download the Challan Form: Click Here

Download Important Questions With Answers: Click Here

Corporation Bank History
Download Full History (55 pages)

Corporation Bank is an Indian bank based in Mangalore, Karnataka. The bank was founded in the year 1906 at a town named Udupi in Karnataka with an investment of just Rs. 5000. A group of enthusiasts including Khan Bahadur Haji Abdulla Haji Kasim Saheb Bahadur were the founders of the bank. Interestingly, Udupi was not much far from Mangalore, and the banking needs of the people were being solely controlled by some local rich individuals. Hence, to find a way out of the existing monopoly of the money lenders, Corporation Bank was established with the initial name ‘The Canara Banking Corporation (Udupi) Ltd’.

Key Attributes
Corporation Bank has an array of awards and recognitions to its credit, including National Award for Assistance to Exporters from the President of India for the year 1976-77, Shiromani Award for Banking from Union Minister of Commerce in the year 1992, Best Bank Award for Excellence in Banking Technology from Institute for Development and Research in Banking Technology (IDRBT) in the year 2001, and Best Bank Award for Innovative Usage and Application on INFINET (Indian Financial Network) from the same institution in the year 2002.

Apart from it, Corporation Bank has been the path breaker among the Indian banks in many ways, as it was the first bank in the country to launch Cash Management Services, Gold Banking, m-Commerce and 100% Core Banking Services (CBS) compliance.

Products and Services
Corporation Bank offers a wide range of banking products and services to its customers, including Personal Banking Services, Internet Banking Services, Value Added Banking Services, Corporate Banking Services and Credit Card & Debit Card Services. The bank allocates due attention towards its corporate and international business customers, bringing some customized services such as Gold Card Scheme for Exporters. Also, the bank has introduced some specialized services to cater to the specific needs of Micro and Small Enterprises (MSE) customers, enabling them leverage its potential to their maximum benefit.

Head Office
Corporation Bank
Mangaladevi Temple Road
Pandeshwar
MANGALORE 575 001
Karnataka, India
Website: http://www.corpbank.com

IBPS Interview Question (HR and Technical Questions) & Discussion

Usually for bank interviews, there will be 2 to 3 persons in the interview panel. Before the final interview, HR will check all the necessary documents needed and he can also ask few bank specific questions like CASA, Basel norms and profit of the bank, difference between various banking products etc. We are categorising the questions in 2 forms – HR Questions and Technical Questions -

The HR questions you can expect in your interview are:

Tell me about yourself
Tell me about your family
Incase, if you are the only daughter/son in your family, will your parents allow you to work anywhere across India?
What are your strengths and weaknesses?
Don’t you think you are over qualified for this position?
Why not software after engineering?
Why did you leave your previous company?
Why do you want to work here?
Have you applied for any other banks?
What do you know about your bank?
Have you applied to other areas apart from banking?
Where do you see yourself in 5 years from now?
If you are female – Being a girl, if you are posted in unsafe place like Assam, will you continue to work with us?
Did you prepare for the interview? What did you prepare? (questions will be asked from what you prepared)
Have you attended any bank interviews before?
Do you have any questions for us?

The Technical Questions which can be asked in a bank interview are -

What do you know BASEL norms
What is CAR? (Capital Adequacy Ratio)
What is the current CRR and SLR?
What is microfinance?
Repo Rate and Reverse Repo rate?

What is SEBI?
What is inflation and deflation?
What is mutual fund?
What is IMF?
What is ULIP?
Do you have account in bank? Which bank? Why?
Differences you see in a private and public bank.
What is forex?
What is Bank rate?
Have you heard about KYC? what is KYC?

Union Bank of India, Leading Listed Public Sector Bank with Head Office in Mumbai and all India representation invites ON-LINE Applications, form qualified candidates who hold a valid score card issued by IBPS, for recruitment to the post of Probationary Officer.

Union Bank of India recruitment for the Probationary Officers will be based on the Weighted Score of IBPS CWE. UBI has not set any min. cutoff for Weighted score it means all the candidates who are full filling the other eligibility criteria may apply to Union Bank of India Recruitment of PO Jobs.

Number of Vacancy: 2473 [Gen : 1241 [PWD : 165] , OBC : 663 , SC : 368 , ST : 201 ]
Online Registration: 30-12-2011 To 14-01-2012

Fees:
For General: Rs 200
For Others: Rs 50
Fees must be paid therough Bank Challan from any counter of Union Bank Of India Branches in India.

Selection Procedure
Union Bank of India has not specified the cutoff score for the IBPS CWE . It means all the candidates may apply for the Union Bank of India (UBI) having the valid weighted scorecard issued by IBPS CWE.

There will be personal Interview of 50 marks where each candidates need to score minimum 50% (45% for reserved Cat) marks to qualify the Interview. Candidates not clearing the Personal Interview will not be considered for final selection.

The short-listing of the candidates for Personal Interview will be made on the basis of the candidate’s performance in the Written Test conducted by IBPS and the Total Wheighted Score obtained as per the valid Score Card Issued by IBPS.

Depending on the number of vacancies, only those candidates who are Qualified in the Common Written Examination conducted by IBPS and possess a valid score card issued by IBPS and rank sufficiently high in the order of merit based on the total Weighted Score shall be called for a Personal Interview in the ratio of 1:3 for General / Unreserved Candidates and 1:5 in case of candidates belonging to the Reserved Categories).

In other words, 3 General and 5 Reserved Category candidates against the vacancies stipulated respectively would be called for the Personal interview depending upon their ranking as per the total Weighted Score obtained by them.

Candidates passing the Personal Interview will be ranked in a descending order on the basis of the Weighted Score obtained in the Written Test conducted by IBPS, Personal Interview under the respective SC / ST / OBC / GEN Category.

How To Apply

Candidates must apply online through Union Bank of India website. After paying the fees in full.

For Details: Check Here

Download Important Questions With Answers: Click Here

Union Bank History

Union Bank of India was inaugurated by the Father of the Nation, Mahatama Gandhi, on November 11, 1919. Started as a limited company in Mumbai, it was one of the few Financial Commercial banks in India. Until 1947, UBI had only 4 branches - 3 in Mumbai and 1 in Saurashtra, all concentrated in key trade centres. Catering to all the sectors of the society, be it agriculture, industry, trade and commerce, services or infrastructure, the bank has also played a major role in rendering services to the financial needs of every section. Apart from this, the bank also extended financial support to educational, housing and trade sector.

Union Bank of India undertook the task of establishment of village knowledge centers and self-employment training centers. It was in 1975, that the Union Bank of India was nationalized. It was, then, that it merged with the Belgaum Bank, a private sector bank. Another merger was on cards in 1985, this time with the Miraj State Bank. Union Bank is a Public Sector Unit with 55.43% Share Capital held by the Government of India. The Bank came out with its Initial Public Offer (IPO) in August 20, 2002 and Follow on Public Offer in February 2006. Presently 44.57 % of Share Capital is presently held by institutions, individuals and others.

Tech-Savvy
With the age of global banking, Union Bank of India also changed its style, boasting of urbanized and computerized core banking systems. A front runner among public sector banks in modern-day banking, it has all the facilities that a modern bank should have - internet banking and centrally computerized branches. UBI was one of the pioneer public sector banks, which launched Core Banking Solution in 2002. As of September 2005, more than 670 branches/extension counters of Bank are networked under Core Banking Solution. The Bank has launched multiple Electronic Delivery Channels and has installed nearly 423 networked ATMs.

Products & Services

Deposits
Accounts
Loans
Cards
Insurance
Cash Management Service
Mutual Funds
Demat
ATMs
E Banking Or Online Banking
Remittance Service
Bill Payment Service
Tax Payment Service
Atm Banking
Tele Banking
Online Demat Trading
Cash Management Services
Mutual Funds
Railway Tickets Booking
8% Tax Saving Bonds
Public Provident Fund (PPF)
Direct Tax Collection
Central Excise and Service Tax Collection Services
Special Savings Schemes for Senior Citizens

Head Office
239 Vidhan Bhavan Marg, Central Office
Nariman Point
Mumbai -21
Phone - (022) 22892000
Website: www.unionbankofindia.co.in

IBPS Interview Question (HR and Technical Questions)
Usually for bank interviews, there will be 2 to 3 persons in the interview panel. Before the final interview, HR will check all the necessary documents needed and he can also ask few bank specific questions like CASA, Basel norms and profit of the bank, difference between various banking products etc. We are categorising the questions in 2 forms – HR Questions and Technical Questions -

The HR questions you can expect in your interview are:http://weeklyexam.com

Tell me about yourself
Tell me about your family
Incase, if you are the only daughter/son in your family, will your parents allow you to work anywhere across India?
What are your strengths and weaknesses?
Don’t you think you are over qualified for this position?
Why not software after engineering?
Why did you leave your previous company?
Why do you want to work here?
Have you applied for any other banks?
What do you know about your bank?
Have you applied to other areas apart from banking?
Where do you see yourself in 5 years from now?
If you are female – Being a girl, if you are posted in unsafe place like Assam, will you continue to work with us?
Did you prepare for the interview? What did you prepare? (questions will be asked from what you prepared)
Have you attended any bank interviews before?
Do you have any questions for us?

The Technical Questions which can be asked in a bank interview are -

What do you know BASEL norms
What is CAR? (Capital Adequacy Ratio)
What is the current CRR and SLR?
What is microfinance?
Repo Rate and Reverse Repo rate?
What is SEBI?
What is inflation and deflation?
What is mutual fund?
What is IMF?
What is ULIP?
Do you have account in bank? Which bank? Why?
Differences you see in a private and public bank.
What is forex?
What is Bank rate?
Have you heard about KYC? what is KYC?

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