Competitive exam bits for all in month of 2012

v  Reflecting subdued economic sentiments GDP figures shared growth dipping to a decade’s low of 5% in 2012-13, while improvement in fiscal deficit gave relief to government.

v  With spiraling Gold imports putting huge pressure in the Current Account Deficit (CAD), the government has hiked the import duty on the gold to 8% from 6%.

v  The Centre has approved a legislation seeking to setup a regulator for the real estate sector to protect the interest of home buyers. It provides jail term of up to three years for private developers for cheating customers with false advertisements.

v  Missile scientist Avinash Chander, the man behind India’s 5000 km range Agni missile and is smaller range variants, has been appointed as the Director General of Defense Research and Development Organization (DRDO).

v  The Central Information Commission (CIC) has ruled that political parties are covered Right to Information (RTI) Act.

v  IT major Infosys, which has been grappling with dwindling revenues in the last nine quarters, has recalled its 66-year-old co-founder and Chairman Emeritus N R Narayana Murthy as the executive  Chairman of the company, seven years after his retirement.

check for more GK bits for all competitive exams.......  all the for all 

Bank Related posts are

banking terminology

banking related interview questions

banking notes 

banking G.K

June month General Awareness bits for all competitive exams

banking terms used in banks

Bouncing of a cheque: Where an account does not have sufficient balance to honour the cheque issued by the customer, the cheque is returned by the bank with the reason "funds insufficient" or "Exceeds arrangement”. This is known as 'Bouncing of a cheque’.

ATM:  ATMs are Automatic Teller Machines, which do the job of a teller in a bank through Computer Network. ATMs are located on the branch premises or off branch premises. ATMs are useful to dispense cash, receive cash, accept cheques, give balances in the accounts and also give mini-statements to the customers.

Business of Banking : Accepting deposits, borrowing money, lending money, investing, dealing in bills, dealing in Foreign Exchange, Hiring Lockers, Opening Safe Custody Accounts, Issuing Letters of Credit, Travelers’ Cheques, doing Mutual Fund business, Insurance Business, acting as Trustee or doing any other business which Central Government may notify in the official Gazette.

Ask Price: The lowest price at which a dealer is willing to sell a given security.

At-the-money: The exercise price of a derivative that is closest to the market price of the underlying instrument.

Banker's Lien: Bankers lien is a special right of lien exercised by the bankers, who can retain goods bailed to them as a security for general balance of account. Bankers can have this right in the absence of a contract to the contrary.

Authorization: The issuance of approval, by a credit card issuer, merchant, or other affiliate, to complete a credit card transaction.

Automated Clearing House (ACH): A computerized facility used by member depository institutions to electronically combine, sort, and distribute inter-bank credits and debits. ACHs process electronic transfers of government securities and provided customer services, such as direct deposit of customers' salaries and government benefit payments (i.e., social security, welfare, and veterans' entitlements), and preauthorized transfers.

Asset-Backed Securities (ABS): A type of security that is backed by a pool of bank loans, leases, and other assets. Most ABS are backed by auto loans and credit cards – these issues are very similar to mortgage-backed securities.

Related posts are

banking terminology

banking related interview questions

banking notes 

banking G.K