GSLV-D5 Launch at 4 PM 05-01-2014

India's make-or-break countdown for joining cryogenic rocket club begins
For the second time, India will be using an Indian-made cryogenic engine while launching the advanced communications satellite. In its last attempt in August, it had a near-fatal mishap when a fuel leak was detected in the nick of time and the launch stopped an hour before liftoff.
GSLV-D5 Launch at 4 PM

Punjab & Sind Bank Notified Recruitment for 03 Posts of Chartered Accountant 2013

The Punjab & Sind Bank invites applications from the eligible Indian citizens who are fulfilling the requisite eligibility criteria prescribed below for the post of  Chartered Accountants in MMG Scale – III (Sr. Managers) in reserved categories. The applications on prescribed performa must reach to the General Manager (HRD), Punjab & Sind Bank, HO. Human Resource Development Dept., Fifth Floor “Bank House” 21 – Rajendera Place, New Delhi – 110 008. The Punjab & Sind Bank (PSB) was founded on the principle of social commitment to help the weaker section of the society in their economic endeavours to raise their standard of life. 

Important Dates

• Last Date of Submission of Application             :         31 January 2014.
• Tentive Date of Group Discussion/ Interview  :      01 March 2014.

Details of Posts

Name of Post       :        “Chartered Accountant (Scale – III)”

No. of Posts          :           03 (Three).  [01 – SC and 02 - OBC].

Educational Qualification 

A Graduate from any University with a pass in the final Examination of the Institute of Chartered Accountants of India.

Experience:

Five (05) Years & above working experience in a Private/ Public Sector/ Foreign/ Reputed Investment Bank preferably in Processing Corporate Proposals.

Age Limit

• Maximum Age Limit for the candidates is 35 Years as on closing date prescribed for receipt of application.
• Age Relaxation of  05 Years for SC/ ST candidates, 03 Years for OBC Candidates, 05 Years for Ex- service commissioned Officers, o5 Years for Officers serving in the Regional Rural Banks, 10 Years for Physically Challenged Category candidates and 05 Years for the children/ family members of those who died in 1984 riots.

Pay Scale

• MMG Scale –III, Pay Scale of Rs. 25,700 - 800/ 5 – 29,700 - 900/ 2 – 31,500/-.
• Beside Basic Pay, DA, HRA, CCA (wherever applicable) is also payable, as admissible.

Fee Payment 

The Candidate has to pay Rs. 100/- as a Application Fee (Intimation Charges) for the post of Chartered Accountant in MMGS - III which is Non- Refundable.  Fees Payment through Demand Draft only, to be issued in favor of  “PSB SO Recruitment Project 2013-14” payable at New Delhi. The application without requisite demand draft will be liable to be rejected.

How to Apply 

• Candidates, aspirant for the post are required to apply only on prescribed format. The application form duly filled in along with attested photocopies of testimonials/ enclosures accompanied with DD of fee must reach the above mentioned address through registered post only.
• The applicant should sign and affix his/ her photograph on such printout of application and keep the photocopy of the same ready for submission at the time of Interview, along with originals of the following:

(i) Photo Identity Proof and Address Proof.

(ii) Attested copy of School leaving certificate or any other document showing proof of age acceptable to the Bank.

(iii) Attested copies of Mark sheets / certificates in support of Educational Qualification.

(iv) Attested copy of certificate of Computer Course, as applicable.

(v) Caste related certificate as applicable.

(vi) Experience certificate / certificate from employer in proof of continuance of job.

(vii) Candidates serving in Government / Public Sector Undertakings (including Banks & Financial Institutions) will be required to submit “No Objection Certificate” from their employer, in the absence of which their candidature will not be considered.

• Incomplete application would not be accepted and if submitted such application would be rejected outright.

Selection Procedure:

• Selection for the post of Chartered Accountant will be made on the basis of performance in the Group Discussion     or/ and Interview, to be conducted by the Bank.

Financial Inclusix Index 2013 launched by credit rating agency CRISIL

Indian credit-rating agency CRISIL launched a Financial Inclusix Index 2013 on 2 January 2014. The index showed an improvement in the financial inclusion in India. The index showed an improvement of 2.7 percent in the year 2012. The score was the highest since 2009. The index was based on the data provided by Reserve Bank of India (RBI). 

The all-India CRISIL Inclusix score of 42.8 on a scale of 100, reflects under-penetration of formal banking in the country. The index measured the financial inclusion in each of the 638 districts of India.

Highlights of the Index are:

Overall 79 million new savings accounts were opened in 2012 which was 12.6 per cent more than in the year 2011.

Agricultural credit accounts grew at 11.1 per cent, the most since fiscal 2009.

The number of bank branches in the bottom 100 districts increased by 6 per cent, faster than the all-India growth of 5.6 per cent.

One in two Indians had a savings account and one in seven has access to bank credit.

The six largest cities in the country have 10 per cent of the bank branches whereas the bottom 50 districts have merely 2 per cent of the bank branches.

The four key elements driving the CRISIL Inclusix Index score up by 2.7 in fiscal 2012 were:

 New deposit accounts in three regions – north, south and east. This contributed 42% to the rise in CRISIL Inclusix Index.

The north, by adding 2.4 million new credit accounts, contributed 11% to the index’s increase.

Almost 30% of the 5125 new branches were added in the south, which contributed 9% to the increase.

Credit penetration in the top 50 districts jumped significantly as small-borrower accounts surged.

Thus, the CRISIL recommended:

To speed up inclusion, financial services need to flow beyond the south and the large cities, and

Policy makers need to incentivise expansion of banking services in the districts that have low CRISIL Inclusix scores through an increase in branch network and partnerships with other players.

About CRISIL Inclusix Index

CRISIL Inclusix index is a comprehensive index to measure the progress of financial inclusion in India across 638 districts.

It is a relative index measured on a scale of 0 to 100.

It combines three critical parameters of basic banking services — branch penetration, deposit penetration, and credit penetration —into one metric.

KERALA PSC Kottayam & Palagat

Latvia on 2 January 2014 became the 18th member of the Euro zone.

Latvia on 2 January 2014 became the 18th member of the Euro zone. The small ex-Soviet state has been preparing for the switch, since European Union finance ministers formally announced in July 2013 that Latvia could adopt the Euro.

Both Standard & Poor’s and Fitch have raised the country’s credit ratings in anticipation of its euro entry.

The economy of Latvia shrank by a quarter during 2008-2010, but then grew at the fastest pace in the EU, expanding by 5.6 percent in 2012, after the government slashed spending and wages and hiked taxes in one of the harshest austerity programs in Europe. 

Latvia has recently emerged from the financial crisis to become the EU's fastest-growing economy.

Latvia gained its independence from the Soviet Union in 1991 and joined the European Union and NATO in 2004. It has a population of two million -- nearly 30 percent of Russian origin -- and annual gross domestic product of 28 billion dollar.

Latvia became the fourth smallest member of the currency area, ahead of Cyprus, Estonia and Malta. Estonia joined the euro zone in 2011 and Lithuania aims to do so in 2015.