Category Archives: Banking

Banking

Recruitment in Banking Sector for the post Of Bank PO and Bank Clerk

The Banking Sector, as we all know has been growing at a tremendous rate. The Government has done commendable job in opening various public bank branches in almost all parts of the country. This has made life much easier for the public and made financial security a much accessible term in their lives. Banks stand as a witness of trust and faith that the people have shown in teh government in all these years. The government keeps implementing new strategies for making lives easier for the public while elevating the standard of living simultaneously. Bank provides a large number of job opportunities for the people, and aims to build a strong team of bank personnel to provide better services for its customers. Such two jobs offered by the banks are of the Bank PO and Bank Clerk. These two jobs are high profile jobs and every year thousands of candidates apply for these posts. However, this year, IBPS (the largest recruiter for banks) has introduced a new plan for Bank PO recruitment. In 2011, CWE (Common Written Exam) will be conducted for the first time which would aim at large scale recruitment.

Bank PO Recruitment:
Bank probationary officer, i.e Bank PO, is a highly coveted job in the banking sector. After clearing the bank exam and interview, the chosen candidates undergo a probationary period. This period consists of two years where they are trained regarding their work in the bank.

Institute of Banking Personal (IBPS) is a recruiter for the banking sector. It recruits individuals for various posts. However, in year 2011, it has come up with the CWE (Common Written Exam) which would be a single exam recruiting for 19 public sector banks in India. This has made recruitment a much easier process for the post of Bank PO, where thousands of applicants apply for the job.

Bank Clerk Recruitment:
Just like, Bank PO, the post of a bank clerk is also very popular amongst the crowd.
Factors like, a good income, job security and exciting additional perks make this job a very tempting opportunity to grab.

There are various kinds of clerks on different levels that perform different functions. There are loan clerks, new account clerks, investment clerks etc. Keeping in mind certain qualities, candidates are recruited in different branches of the post of clerk. For example, a person with good logical and mathematical skills would be given the job of maintaining records, on the other hand, a candidate with good communication skills would be given the task to deal with the clients.

Thus, bank clerk and bank are two challenging jobs which are highly competitive in nature. In order to get recruited in any of these posts, one has to prepare well and not confine to merely textual knowledge.

 

If you are looking for Ibps recruitment then read articles related to IBPS PO Recruitment 2011 and ibps clerk recruitment 2011 on jagranjosh.com

Banking

Banking Jobs – How To Succeed In Banking

Banking jobs, especially investment banking jobs are very much in demand. Every young kid who is good with figures wants to be an investment banker. Why? This is simply because investment banking is one of the most lucrative jobs around! But we all know that it takes time and dedication to succeed. You need to start off with entry level banking jobs just like everyone else!

Some Job Profiles

Having said that, I must tell you that investment banking is not the only banking job around, there are different types of banking jobs, but it is not surprising that about 67% if the total banking jobs are those of a bank tellers. Some important job positions in a bank are:

Bank Manager The man who runs the show. You need to supervise the daily operations of the bank and find out whether bank employees are doing their work as planned.
Accountants If you are good with accounts and are qualified, you can become an accountant with a bank. This job is an important one because the work done by an accountant or rather, a team of accountants is presented before investors, tax authorities etc. and determines the financial standing of the bank.

Financial advisors- As a financial advisor, you will be making recommendations and suggestions to people who are clients. This is a very important job and also one which holds great responsibility.

Banking Job Tips

Banking careers are undoubtedly one of the most promising fields, but in order to succeed, you should keep a few things in mind:

Research Be aware of all the latest goings on in the business world. If you dont know about the latest happenings, then you wont be able to raise money for your bank or clients. After all, it is your responsibility to ensure that people are making a wise investment. It cant be taken lightly, now can it?

Networking Banking careers, almost like every other field have become synonymous with networking. One cant get anywhere until they establish all the right contacts. So get to know people. Attend gatherings, parties to-dos etc. Anything that will get you in front of people from your field!

Fees As an investment banker, you need to do some research before you quote your fee. Try to ensure that you get back a good amount, as compared to what you invested in the first place.

Dedication Everyone knows that you cant succeed in any field without dedication. This is especially true for banking jobs. You have to devote all of your time to the service of the bank and to clients. If you are an investment banker, you will have additional responsibility. People will want to know from you how they should spend their money, dont disappoint them!

Mortgage banking jobs are also quite interesting. So if investment banking or being a bank teller is not your thing, you can always go in for this job. There are various types of banking jobs, take your pick wisely, make sure you are equipped to handle your office!

To learn more about banking jobs and to search through thousands of career listings, please visit http://www.EmploymentCrossing.com/lcjobtypelisting.php and sign up for a FREE trial today. Silas Reed, Writer for EmploymentCrossing, writes articles that inform and teach about different job tips and career advice.

Banking

Taking Banking to the Next Level: Convenience Banking

The term ‘Convenience Banking’ has become pretty popular these days with the development of the communication industry in this information era. Convenience Banking refers to the ease with which banking operations can be carried out from anywhere on earth with the access to the internet or to telephone. Any business person or an entrepreneur would like to have access to his finances round the clock and through the year. Convenience Banking promises this and much more.

The term ‘Convenience Banking’ has become pretty popular these days with the development of the communication industry in this information era. Convenience Banking refers to the ease with which banking operations can be carried out from anywhere on earth with the access to the internet or to telephone. Any business person or an entrepreneur would like to have access to his finances round the clock and through the year. Convenience Banking promises this and much more.

Global Debit Card:
Convenience Banking brings dexterity to banking offering facilities such as phone banking, online banking and the glamorous feature, the Global Debit Card. This keeps one the access to his accounts despite wherever one’s destination is and keeps him free of the tense to carry out his transactions even when he is on the move. All you need is a savings account with the bank and you are given the power to control your money anywhere through the Global Debit Card. A Global Debit Card grants access to the ATMs throughout the world and comes in very convenient while travelling through countries easing the way withdrawals were made. This takes shopping to a new level, enabling the user to exercise maximum comfort.

Online Banking:
Online banking reduces the necessity to visit you bank thus saving time and money spent on the visit to your bank. Imagine this if your nearest bank is pretty far and your access to travel is limited. Besides this, online banking ensures banking round the clock only with the basic necessity i.e. the connection to the internet. In a matter of minute or even seconds, your bill payments, transactions, enquiries and transfer between accounts can be done without any trouble or to having to wait till your next visit to your bank. In addition to the transactions that can be carried out with your money, some banks do offer opening demat accounts helping you to trade commodities on the move with just access to the www.

Telephone Banking:
Simplifying banking furthermore is the Telephone Banking facility. With telephone banking, banking operations can be carried out over the phone in a personalized style. Most banks enable you to access your accounts through the day and through the night. The facilities offered are very much same as that offered by internet banking and you will always have support to the customer service department administered by the bank. This makes banking even easier than internet banking as only a telephone connection is required.

The only significance is to look for a bank that avails all these facilities. If your bank doesn’t offer you these facilities, well, it’s time to change your bank that provides you freedom.

Vijay K Shetty, Platinum Level Author.
Get more information on Convenience Banking, Bank Checking Account

Banking

Difference Between Islamic Banking And Conventional Banking

ISLAMIC bankers, caught between scholar and layman,devote much of their time to educating an often skeptical public about the authenticity of their products. Time well spent.The purgative effects of ridding the Islamic financial sector of pretenders (and there are many) at the hands of an educated consumer are obvious.Too often,however,this education-al process is long on theory and short on practical relevance.

Perhaps the easiest way to determine whether Islamic banking is true to Qur’an,Sunna and customer is to see how it actually works in practice.The Islamic banking discussed here is the same one that earns consensual acceptance from the field’s leading scholars of the traditional schools of jurisprudence.And while unscrupulous banks do exist,increasing market regulation and customer sophistication ensure that those Islamic banks that are truly Shari’ah-com-pliant lead the industry.By learning the basics about these banks,individuals will be better able to stand their ground when not-so-Islamic bankers push non-compliant instruments in the name of Islam.

At the outset,though, it is necessary to emphasize two important points.First,just because an Islamic product and a conventional product are identical does not render the Islamic pro-duct impermissible.As obvious as this seems,it is an argument detractors often use to discredit Islamic banking.The vast majority of Islamic financial instruments bear a strong resemblance to their conventional counterparts,particularly equity-based ones (see “In Your Interest”,Islamica,winter 2003). What distinguishes them from conventional instruments is usually nothing more than a set of processes,which leads to the second point.

In Islam,the difference between whether something is forbidden, offensive,permissible,recommended or obligatory usually depends on a validating process.Two couples,one married the other unmarried,may look the same, but the agreement of a simple marriage contract makes the one Islamically valid and the other not.Two hamburgers,one using Islamically slaughtered meat the other not,may look the same,but a simple process makes one valid.So too,two financial products,one Islamic the other not,is differentiable by a set of steps:ostensibly cosmetic,Islamically defensible.

The following are among the most commonly asked questions by customers new to Islamic banking (ordered in increasing degree of complexity).

There was no Islamic bank during the Prophet’s (Allah bless him and give him peace) time,so how can there be Islamic banking now? Sounds like a bid’a (innovation)

Microchips,potato chips and Islamic banks are examples of permissible things for which the Prophet (Allah bless him and give him peace) gave us no specific guidance.Rather,he forbade us from engaging in blameworthy innovations (bid’a) that would contravene the Islamic Sacred Law (Shari’ah),rather than from new things that possess no intrinsic blameworthiness.The bid’a is in the blameworthiness,not in the newness.

Admittedly,some Islamic banks do carry out impermissible transactions,but that implicates the entire field of Islamic banking no more than the sins of a few Muslims incriminate the entire Islamic community.

As for the claim that Islamic banking is just part of the “system” and is therefore best avoided,is to put one’s head firmly into the sand;romantic anachronists need not apply.As long as Muslims,money and capital markets co-exist,there will always be a need for Muslims to put their money into some kind of a market (even a little money in a checking account circula- tes into global capital markets).The question Muslims should really be asking themselves is:What now? Whether they would not rather keep their money in the most Islamically acceptable manner available to them given the options.And while new customers might be forgiven some level of healthy skepticism,we should all under- stand the limits of our own unqualified ijtihads1 when declaring something a bid’a.

To get more knowledge about islamic banking courses and other factoid,visit the islamic finance courses site.

Banking

The ABC’s of Business Banking and Premier Banking

Business banking, also called commercial banking, aids small and medium enterprises, i.e. SMEs, with a wide range of financial solutions as well as business development services. The reason why small and medium enterprises are so important is that they create employment and encourage entrepreneurship thereby creating an increase in the global economic growth. Thus, the SME sector plays a key role in enhancing economic development.

Business banking provides you with services and products that are customized solely to your needs and requirements. Business banking is useful not only for entrepreneurs starting their business but also for established companies looking to grow. The new businessman will also enjoy the benefits of experts along with innovative products and services. It also assists in sustaining development as well as business expansion. Business banking taps your latent potential and ensures your success. In all, business banking provides holistic banking solutions.

Premier banking is a unique banking system which provides exclusive services. It is sometimes referred to as private banking. There are certain requirements that are to be met in order to be eligible for these privileges. It gives your finances the highest precedence. It obtains the best opportunities to protect and invest your wealth. It creates packages which are crafted exceptionally for you.

Premier banking provides you with some of the best methods to use your assets. With premier banking, you get access to priority banking service. It also offers many exclusive services and products that can give you the quality time that you always wanted. One of the most special privileges of premier banking is that it provides immediate financial support for you and your family. A premier bank account holder can avail from a range of lifestyle benefits. One can also access these services from all over the world. It also has the facility of 24/7 telephone and online banking service.

No banking can have any more panache than premier banking. It is for those who know how to get on the greener side of the banking pasture. Premier banking is designed according to individual needs. It values your wealth and provides with the best privileges and services.

Business banking helps to grow your business. To save and protect your money use premier banking service.

Banking

What is Banking and Common Concepts of Banking

Banking is one form of trading in money that safeguards deposits as well as makes money available to borrowers. You can also term it as a financial institution which is engaged in money transactions like withdrawals and deposits. There are customers involved who get interest on their deposits parked with the bank.

There are different types of accounts in each and every bank. Different banks have different types of accounts or deposits.

It could be either Savings Account or Current Account or Fixed Deposit Account or Recurring Deposit. Apart from this, there are other types of accounts like Foreign Currency Accounts or FCNR Accounts, Nostro Accounts, Loan Accounts etc.

Savings Account is opened by an individual or more than one individual. It could be a single account or joint account. Interest is paid on the money deposited in their account.

Current Accounts are usually operated by people having their own business or by corporate. It is usually operated for business purposes.

Fixed Deposit Accounts are opened for a certain period of time. Interest is paid for that particular period of time. For example, a customer may deposit 1000 dollars and request that the same may be kept for 1 year period. So for this 1 year period, interest is paid by the Bank. The deposit could be either ordinary fixed deposit or cumulative fixed deposit.

In case of ordinary fixed deposits, interest is credited to the account whereas for cumulative types, interest gets added to the principal amount.

In case of Recurring Deposits, a certain amount needs to be deposited with the bank on a monthly basis for a particular period of time and interest is paid for that period. Interest gets added to the principal amount.

Apart from interest being paid by banks to customers, banks also lend money to customers for either personal purposes or for commercial purposes or for buying properties. This depends on the customer needs as well as their credibility or financial condition. Interest is charged on the amount given to the customer depending on the agreement made.

Besides lending, customers can also keep their valuables like ornaments in bank lockers. Banks offer this facility to their customers and a certain amount is charged for the same.

There are many other facilities offered by banks to customers like withdrawing money through Any Time Machine (ATM’s), offering credit cards or debit cards, International Cards for purchasing etc.

Customer’s money is properly taken care of by these financial institutions and customers can very well plan their future if they invest properly.

Iyer has several years of experience working for a Multinational Bank. This blog has articles related to finance. There are many facts about Forex MegaDroid which one needs to read and it is one of the best performing robot.

Banking

What is Investment Banking and Corporate Banking

Investment banking is very popular now days, and, usually, banks that are involved in commercial banking or investment banks.

If you’re new to the world of investment banking, is almost certainly lost in the complexity of the financial industry. In basic terms, investment banks and money transfer risk. They move money from people who have it to those in need. Move risk people who do not want to deal with him to those who feel comfortable taking the medication. The ways in which this is done depends on the banking division is working with.

However, due to the large range of banking transactions in the currency market daily, it was necessary to differentiate according to actions that are interested. There is a really big reason that we can found enough jobs in the bank available in market but without any prior experience it is impossible to get those Banks Jobs. When any person going to invest in market than it is the responsibility of that very Bank to do not enclose such credential information to anyone so the security comes again in this reason.

Two of the most unique forms of banking are the corporate and investment banking. Corporate Banking is involved in the various operations of small businesses and corporate giants of the company; the main focus is on company accounts. Moreover, the bank financing is involved in investment transactions for a variety of entities including company’s money and governments; the focus is on the side of investment. Let’s differentiate the banking and corporate finance.

Investment banks offer to help buyers with totally different transactions, based primarily in bonds and securities. Buyers are provided with advice on the proper acquisition of property and assets. Buyers also purchase bonds from banks and securities representing such investments and were later presented with the income without which they work to make use of the investment. With the discretion of these investment banks, investment will be used by consumers as and investment there, which may have dividends, referred consumers to. The investment banks not only keep these assets, but also to take the risks to the client. These banks have the greatest loss if the investments do not. These banks usually finance the bid recommendation to buyers operating in a variety of small or large scale. They are tailored to the needs of small business enterprises, but also adept in serving large companies.

An organization is an authorized entity which is normally involved in business and finance. Companies have shareholders who are co-owners of the company. These shareholders invested an increase in insurance money to the company. If an organization is successful, then the shareholders will also succeed. However, when the business fails, all shareholders, large or small time forfeit the money they had invested. Subsequently, decisions taken by the corporation as a whole needed a mediator who is an expert in money-market methods. Corporate banking deals with the financial resolution-making of corporation. The banks are those with corporate clients, in this case, companies with tools and analysis used for the right decisions. The main objective would be to maximize profits and security of the company, while minimizing the potential currency risk. The more stable and adequate choice of banks to businesses could be better than the company rate.

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Banking

Banks in India available for better banking

Whether or not, a superior banking option comes out to be the top priority for most of us looking business deals big or small. We often expect to have a hassle-free transaction with 24×7 customer services. Our anticipation turns rigid even further to the bank when it may charge you lower and serve you better unrequitedly. For that all there is a must to have a valid bank account of any bank to rule the roost. There are growing numbers of banks present in India. It appears as if there were a financial revolution took place aggressively in India. You could have a better banking anytime from anywhere in India.

Indians have banks around in large numbers, offering credit/debit card deals. These banks are doing all to allure more and more customer each year coming with different marketing strategies. You are several nationalized banks in India. It includes Allahabad Bank, Andhra Bank, Bank of Baroda, Bank of India, Bank of Maharashtra, Canara Bank, Central Bank of India, Corporation Bank, Dena Bank, Indian Bank, Indian Overseas Bank, Oriental Bank of Commerce, Punjab National Bank, Syndicate Bank, UCO Bank, Union Bank of India, United Bank of India, Vijaya Banka and Punjab and Sind Bank.

Private sector banks include Axis Bank (Formerly UTI Bank), HDFC Bank, ICICI Bank, IndusInd Bank, ING Vysya Bank, Kotak Mahindra Bank, Yes bank, Up Agro Bank Corporation Ltd.

Most banks offer a fee-free opening period, normally of a few months, and it is worth seeking out these deals. It is imperative for you to ensure that you have compare charges and facilities for following the deal period ends.

India’s largest lender, SBI (State Bank of India) is planning to cut the interest rates substantially to benefit lenders, after have had convened its assets and liability to discuss interest rates. It is expected that the deep cut in lending rates will make SME (small medium enterprise), personal loans, car loans and corporate benefit.

In the same manner, the country’s second and third-largest banks, ICICI Bank and Punjab National Bank respectively are also likely to come down in interest rates by 25 basis points. IDBI (Industrial Development Bank of India Limited) Bank has announced a similar cut.

In the meantime, the government of India has already given orders to banks to reduce lending rates following the 50 basis points. The central bank, the RBI (Reserve Bank of India) has cut the Repo Rate and Cash Reserve Ratio.

However, there are some lenders who are still unwilling to ease rates as the liquidity deficit continues at rest. Their cost of funds still remains high.

Essentially, it comes out that the central bank’s rate cut pressing is giving a strong signal to banks to pass on the interest reduction and carrying out rapid monetary policy transmission at the spur of the moment. Its implication is overtly perceptible that if Reserve Bank of India does so, the banks will pass it on to their customers.

Majority of bankers are looking forward to ease further in the cash conditions as government spending comes in.

In this way, banking in India comes out hassle-free any affordable. Every potential customer could be a subscriber of any bank provided that he/she may fulfill eligibility of the bank concerned. Call customer care number to know more about the bank.

Author is an experienced in banks online articles. Get details about hdfc bank customer care , sbi customer care , axis bank customer care , yes bank customer care and solved your problems.

Banking

The banking name you can trust upon Canara Bank

 The Indian Banking system has undergone a sea change in terms of service and functions. The credit of maintaining trust and confidence goes to few banks who have endlessly served to provide their customers a classy service. Be it grievance handling or meeting standing orders the services have been commendable.  One such bank upholding the trust of the clients is Canara bank. Canara Bank is one of the oldest financial institutions of India, started in 1906 in Karnataka. Nationalized in 1969, it has grown to be a huge financial conglomerate, owning many subsidiaries and joint ventures throughout the world. The bank has 3057 branches and over 2000 ATMs, as of 2010. It has been a pioneer of several banking and financial services like launching an exclusive Mahila Banking Branch, providing credit card facility to farmers, extending Agricultural Consulting Services, launch of exclusive IT consultancy subsidiary etc.  It has subsidiaries in Financial Services, Securities, Asset Management, Venture Capital Fund, Factors, Computer Services and finance home. The bank also won the National Award for excellence in the field of Khadi and Village Industries in 2011.

Canara Bank has several objectives on the basis of which it aims at being a “Global Bank with Best Practices”. It promotes national interests, takes active part in rural development and has several training initiatives to enhance rural self-employment. It provides all essential banking services at all branches, including Real Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT), Internet and Mobile Banking (IMB) etc.

As a very customer centric bank, it has stringent grievance redressal policies. The Canara Bank Customer Care aims at resolving all customer issues promptly and systematically.  All complaints can be filed online on the Canara Bank website or on various toll free numbers listed on the website, or in any particular branch, where the Branch Manager would deal with the complaints. To ensure fair settlement of all complaints against Canara Bank, the bank has a complete policy document that lists in detail how each type of complaint is to be dealt with, in how long, and what can be done in case the customer is still not satisfied, along with a list of alternative remedies. The document is available on the website.

All Canara Bank complaints are addressed within a maximum of 21 days, as against the time frame of 30 days stipulated by Ministry of Finance. The bank has a review mechanism for every complaint that would help in identifying and overcoming any kind of shortcoming on part of the bank or its employees. Employees are specially trained to deal with all sorts of complaints courteously. There are suggestion boxes, complaint books; Help Counters available at all branches for quick and easy registration of any grievance. The bank constituted a standing committee on customer service in 2005, which reviews and improves customer service periodically. Undoubtedly, the bank has fulfilled and fulfilling its promise of its slogan “serving to grow and growing to serve.”

I am writing on consumer rights and other relevant topics related to consumer welfare. I am handling a consumer forum to get resolved consumer complaints. many customer care center does not respond like Canara Bank customer care. we do companies constrain to solve people’s problems

Banking

Benefits of Banking with Corporation Bank

Corporation Bank is known for its strong involvement in uplifting the lives of rural and urban population by providing them the excellent banking and loan solutions. The development in this series of banking has enabled all the rural users to take benefit of e-banking and well organized computerized branches of this bank have a special impact on the entire ease of banking access program. Since the year of inception of this bank, the growth of this initiative has been exponential, enabling the users with world class banking solutions. The internet banking feature of this phone offering instant fund transfer and transaction the users via the Corporation Bank IFSC Code system is the most apprenticed benefit of this banking chain.

IFSC stands for Indian Financial Codes system and all the banks registered under the national financial system have their unique identification codes. The users having their accounts in any of these banks get their personal IFSC code. For example if you have your saving account in Corporation Bank then you will be provided with the unique Corporation Bank IFSC Code by this bank, which assists you in further computerized banking solutions including the fund transfer, receiving funds in your account and a lot more related to modernized banking.

If you have your account in Corporation Bank and you wish to take benefit of its modernized banking then all you need to do is visit the official website of this bank and check out all the details of your account by using your user id and password provided the bank. If you want to transfer your money to any another account or need the money get transferred to your account by someone then it can also be done via internet banking by using your Corporation Bank IFSC Code. The mobile banking solutions of this phone are also excellent.

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