Saturday, August 9, 2014

Workers in Forest Produce-Based Industries

The Minister of State for Mines, Steel and Labour and Employment, Shri Vishnu Deo Sai has said that the term ‘unorganized worker’ has been defined under the Unorganized Workers Social Security Act, 2008 as a home-based worker, self-employed worker or a wage worker in the organized sector and includes a worker in the organized sector who is not covered by any of the Acts mentioned in Schedule-II of this Act i.e. (i) The Workmen’s Compensation Act, 1923 (8 of 1923), (ii) The Industrial Disputes Act, 1947 (14 of 1947), (iii) The Employees’ State Insurance Act, 1948 (34 of 1948), (iv) The Employees’ Provident Funds and Miscellaneous Provision Act, 1952 (19 of 1952), (v) The Maternity Benefit Act, 1961 (53 of 1961) and The Payment of Gratuity Act, 1972 (39 of 1972). 

In a written reply in the Lok Sabha today, Shri Vishnu Deo Sai has said that Government has already taken various steps to provide social security for the unorganized workers. Some of these schemes are listed as under: 

1. Indira Gandhi National Old Age Pension Scheme. (Ministry of Rural Development) 

2. National Family Benefit Scheme. (Ministry of Rural Development) 

3. Janani Suraksha Yojana. (Ministry of Health and Family Welfare) 

4. Handloom Weavers’ Comprehensive Welfare Scheme. (Ministry of Textiles) 

5. Handicraft Artisans’ Comprehensive Welfare Scheme. (Ministry of Textiles) 

6. Pension to Master Craft Persons. (Ministry of Textiles) 

7. National Scheme for Welfare of Fishermen and Training and Extension. (Department of Animal Husbandry, Dairying & Fisheries) 

8. Janshree Bima Yojana and Aam Admi Bima Yojana. (Department of Financial Services). 

9. Rashtriya Swasthya Bima Yojana. (Ministry of Labour and Employment). 

Uniform Labour Law

The Minister of State for Mines, Steel and Labour and Employment, Shri Vishnu Deo Sai has said that “Labour” is in the Concurrent List of the Constitution. Thus, both the Centre and the States can legislate in this area. There are 44 labour related statutes enacted by the Central Government dealing with wages, social security, labour welfare, occupational safety and health and industrial relations etc., being enforced by Central and State Governments, as appropriate Governments, as envisaged in the respective Acts. Each Act has been enacted keeping in view its objectives which are defined in each Act and accordingly the definitions have been incorporated in the Acts. 

In a written reply in the Lok Sabha today, Shri Vishnu Deo Sai has said that ministry is also addressing the issue of ease of compliance to promote an enabling business environment. A single unified Web Portal is being developed for Online Registration of Units, Reporting of inspections, and submissions of Annual Returns and redressal of grievances. This portal will facilitate ease of reporting at one place for various Labour Laws by a single online Annual Return; consolidate information of Labour Inspection and its enforcement thereby enhancing transparency in Labour Inspection as well as that in monitoring of Labour Inspections. An Inspection scheme has also been notified with the objective of simplifying business regulations and for bringing in transparency and accountability in labour inspections. The scheme envisages objective criteria for selection of Units for inspection. 

Survey Regarding Employment in Various Sectors

Minister of State (Independent Charge) for Statistics & Programme Implementation Shri Rao Inderjit Singh has said that as per the report based on the recent survey on Employment-Unemployment conducted by the National Sample Survey Office (NSSO) during July 2011 – June 2012, the State/UT-wise percentage of workers to total workers working in Primary, Secondary and Tertiary sector as per usual status (ps+ss) is given in the statement at Annexure I.

In a written reply in the Lok Sabha today Shri Singh said, as per the report based on the last three surveys on Employment-Unemployment conducted by the National Sample Survey Office (NSSO) during July 2004 – June 2005, July 2009 – June 2010 and July 2011 – June 2012, the State/UT wise Proportion (per 1000) of workers working in manufacturing sector, to total number of workers, as per usual status (ps+ss) is given in the statement at Annexure II. 

SBI Launches Six of Digital Branches

State Bank of India (SBI) has launched six Digital Branches in the country on 1st July, 2014, one each at Ahmedabad, Chennai, Delhi and Mumbai and two branches at Bengaluru. Concept of Digital Branches by SBI is its own initiative, and further roll out would depend on the success of such branches opened. 

Setting up of National Fisheries Development Board

Government has set up a National Fisheries Development Board (NFDB). The  objectives and functions of the Board are:
       (i) To bring major activities relating to fisheries and aquaculture for focused attention and professional management;
(ii)      To coordinate activities pertaining to fisheries undertaken by different Ministries/Departments in the Central Government and also coordinate with the State/Union Territory Governments;
(iii)  To improve production processing, storage, transport and marketing of the products of capture    and culture fisheries;
(iv)  To achieve sustainable management and conservation of natural aquatic resources including the fish stocks;
(v)    To apply modern tools of research and development including biotechnology for optimizing production and productivity from fisheries;
(vi)        To provide modern infrastructure mechanisms for fisheries and ensure their effective management and optimum utilization;
(vii)       To generate substantial employment;
(viii)   To train and empower women in the fisheries sector and
(ix)     To enhance contribution of fish towards food and nutritional security.
The functions of the Board are:-
(i)         To promote, plan and organize programmes for development of fisheries and aquaculture in consultation with States and UTs;
(ii)        Advise the States and UTs for formulation of policies and programmes for fisheries development;
(iii)       To institute award, fellowships, scholarship and to organize training for all stakeholders in the fisheries sector;
(iv)       Co-ordinate with private sector, banks, financial institutions etc. for promoting partnerships for development of the sector;
(v)        Explore indentify and promote national and international benchmarks and best practices for the development of fisheries sector;
(vi)       Adoption of new and innovative production technologies, sustainable management and utilization of less utilized water resources and proper marketing of products of capture and culture fisheries;
(vii)      To facilitate technology backstopping and other technical and financial assistance in implementing programmes and projects by States/UTs;
(viii)     To sponsor/ undertake studies to assess the impact of the programme and plans of food and nutritional security and
(ix)       To develop a framework for monitoring, evaluating and assessing impact of projects and programmes undertaken by State and Central Government.

Sunday, May 25, 2014

Financial Institutions

Securities Exchange Board of India (SEBI): It is regulatory authority of stock exchanges and protects investors from Fraudulent dealings. It was established in April 1988 and awarded statutory status by Act of parliament in 1992.
Insurance Regulatory & Development Authority (IRDA) : It is apex body formed under Sec.4 of IRDA Act 1999 to  protect the interests of the policyholders to regulate promote and ensure orderly growth of the insurance industry in India
Financial Stability & Development Council : This is the apex financial regulator of our country. Headed by Finance Minister, it coordinates and regulates to four financial regulators of the country i.e. RBI,SEBI,IRDA and PFRDA to ensure that all of them operate and function in harmony to promote the growth and stability of Indian Economy.
Indian Banks Association (IBA) : It is the official association of all the banks operating in India. It acts as a bridge between banks on one hand and government and staff unions on the other. Presetly Mr. K.R. Kamath, CMD of Punjab National Bank is Chairman of IBA.
Non Banking Financial Company (NBFC): These are companies which have functions similar to banking like accepting deposits and making loans. However they do not have license for banking, although they are regulated by RBI.
Deposit Insurance & Credit Guarantee Corp.(DI&CGC) : It is a wholly owned subsidiary of RBI which provides an insurance cover of Rs.1lakh per depositor per bank in case of bank failure.It also provides guarantee of repayment amount in default of small loans given by banks.
Export Credit Guarantee Corporation of India (ECGC):  ECGC is a Govt. body which provides export credit insurance facilities to exporters and banks in India. It encourages Indian exporters by giving them credit insurance covers.
Banking Codes and Standards Board of India: It is a industry watch dog set up by RBI to monitor and assess the compliance with codes and minimum standards of service to individual customers, as prescribed by the RBI.
Credit Information Report: A Credit Information Report is a factual record of a borrower’s credit payment history compiled from information received from different credit grantors. Its purpose is to help credit grantors make informed lending decisions-quickly and objectively.

General Awareness Practice Questions for SBI PO Exam

1.    Recently “Ship of Theseus' named the best film in National Film Awards. Who among the following is the director of the film?
(1) Saurabh Shukla                                               
(2) Anand Gandhi
(3)  Aida El-Kashef                                               
(4)  Hansal Mehta
(5) None of the above

2.    Recently Book “Crusader or Conspirator? Coalgate and other Truths” is in news. Who among the following is the author of the book?
(1) Sanjay Baru                             
(2) Rajiv Pillai
(3) PC Parekh                               
(4) Yashwant Sinha
(5) Pullock Chatterjee

3.    According to RBI Guidelines, what fractions of the branches are mandatory to opened in rural areas by newly licensed banks?
(1) 15                                 (2) 25
(3) 35                                 (4) 45
(5) None of these

4.    Lee Kun-hee, who is facing an arrest warrant in a 4.1million dollar cheating case is chairman of ____?
(1) Nokia                           (2) Samsung
(3) LG                                (4) IBM
(5) None of these

5.    Consider the following statements with respect to the recently granted banking license by the Reserve Bank of India?
(A) RBI grant banking license to infrastructure financier IDFC Ltd and micro lender Bandhan Financial Services Ltd to start new banks.
(B) This approval will be valid for 18 months, during which the two companies will have to comply with rules stipulated by RBI.
(C) Chandra Shekhar Ghosh is the Chairman of IDFC Ltd and Rajiv B Lall is the Chairman of Bandhan Financial Services Ltd

Which of the above statements is/are correct in this context?
 (1) Only A  & B                                          
(2) Only B & C
(3) Only A & C                                         
(4) All the above
(5) None of these

6.    Recently who among the following has been appointed as the new Finance Secretary?
(1) Sumit Bose                              
(2) Vijay Seshadri
(3) Arvind Mayaram                     
(4) V.K. Murthy
(5) None of these

7.    Vijay Seshadri wins the 2014 Pulitzer Prize for his work ____?
(1) 2 states                                               
(2) The Goldfinch, 
(3) 3 Sections                                
(4) 11 Attacks
(5) None of these

8.    Which of the following countries  was formally accepted as a new member by the World Trade Organisation (WTO) in a ministerial conference held in Bali recently?
(1) Uganda                                
(2) Yemen                   
(3) Romania
(4) South Sudan                
(5) None of these 

9.    Examine the following with respect to Exchange Earner’s Foreign Currency Account (EEFC):
(A) It is a facility provided to the foreign exchange earner (individual or company)
(B) The account holders are entitled to get only 50 percent of their foreign exchange earnings  credited to the account
(C) It can be held only in the form of a current with no interest payable ion it

Which of the above statements is/are correct?
(1) All the above                
(2) Only A
(3) Only B                         
(4) Only A & C
(5) Only B & C

10.  A bank draft can be issued by a bank accepting cash provided the amount does not exceed?
(1) Rs 25,000                    
(2) Rs 50,000
(3) Rs 75,000                    
(4) Rs 10,000
(5) None of these

11.  Banks have strict regulations to protect themselves as well as their customers and if these regulations are violated, banks levy penalty on the violator. Which one of the following will not be considered a bad money practice?
(1) Frequent ATM pin request
(2) Not updating change in personal and residential details
(3) Using Non-bank ATM machines more frequently
(4) Withdrawing over the minimum balance limit
(5) All the above

12.  Consider the following with respect to the much talked about health insurance cover, Obamacare, which came into effect recently in the US.
(A) Under the scheme, it is now compulsory for the people who have health cover
(B) Those who cannot afford the cover will get help from the state
(C) Those who remain without any insurance will be fined
Which of the above statements is true?
(1) Only A                         
(2) Only B
(3) Only C                         
(4) Only A & B
(5) All A, B & C


Important Details about Nationalized Banks in India

Sl.NOName of the BankChairmanHead OfficeYear of Commencement
1Allahabad BankShubhalakshmi PanseKolkata1865
2Andhra BankB.A. PrabhakaraHyderabad20th November, 1923
3Bank of BarodaS.S. MundraBaroda (Vadodara)20th July, 1908
4Bank of IndiaV R IyerMumbai7th September, 1906
5Bank of MaharashtraNarendra SinghPune1935
6Canara BankRajiv Kishore DubeyBangalore1906
7Central Bank of IndiaShri. Rajeev RishiMumbai21 December, 1911
8Corporation BankShri S.R. BansalMangalore1906
9Indian BankT.M. BhasinChennai1907
10Indian Overseas BankShri M. NarendraChennaiFebruary 10th, 1937
11Oriental Bank of CommerceShri S.L. BansalNew DelhiFebruary 19th, 1943
12Punjab National BankShri K.R KamathNew Delhi1895
13Punjab & Sind BankSH. Devinder SinghNew Delhi1908
14Syndicate BankShri Sudhir Kumar JainMani pal1925
15UCO BankShri Arun KaulMumbai6th January, 1943
16Union Bank of IndiaShri D. SarkarKolkata11th November, 1919
17United Bank of IndiaMs. Archana BhargavaKolkata1950
18Vijaya BankShri. H.S. Upendra KamathBangalore1931
19IDBI bankMr. M.S. RaghavanMumbaiJuly, 1964
20Dena BankShri. Ashwani KumarMumbai1938
21ECGCShri N ShankarMumbai30th July, 1957