Monday, December 31, 2012


Revenue Budget: 
Consists of revenue receipts (tax and non-tax) of the Govt. and the expenditure met from these revenues. 

Tax Revenue: 
Comprise proceeds of taxes and other duties levied by the Union Govt. 

Revenue expenditure: 
Expenditure for the normal running of the Govt. departments and various services, interest payments on loans incurred by the Govt., subsidies etc. Such expenditure does not lead to creation of assets. 

Capital budget: 
Consists of capital receipts and payment including transactions in the Public account. 

receipts: Receipt such as loans raised by the Govt. called market loans, borrowing from RBI and other parties through sale of treasury bills. Loans received from foreign bodies and govt. and recoveries of loans granted by the Union Govt. to State and UTs governments. 

Capital payments: 
Consist of capital expenditure on acquisition of assets like land, buildings, machinery, equipment, as also investments in shares etc. and loans and advances granted by Union Govt. to State and UT governments, Govt. companies etc. 

Demand for Grants: 
A form in which the estimates of expenditure included in the annual financial statement and required to be voted in the Lok Sabha are submitted. Generally one demand for grant is presented in respect of each Ministry or Deptt. 

Finance Bill : 
Govt. proposals for levy of new taxes, modification of existing tax structure or continuance of the existing tax structure beyond the period approved by the Parliament. 

Performance budget: 
Budget to ministry in terms of functions, programs and activities that gives appraisal reports separately in respect of major central sector projects estimated to cost Rs.100 cr or more 

Appropriation bill: 
After the demands for grants are voted by Lok Sabha, Parliament's approval to the withdrawals from the Consolidated fund of India of the amounts so voted and amount to meet the expenditure charged on the Consolidated Fund, is sought through the Appropriation bill. 

Fiscal deficit: 
Difference between revenue receipts plus non-debt capital receipts on one side and total expenditure including loans, net of repayments on the other side. 

Primary deficit: 
Fiscal deficit minus interest 

Capital gains tax: 
Tax on the surplus obtained from sale of an asset for more than what was originally paid for it. Revenue deficit : Revenue expenditure minus revenue receipt. 

Countervailing duty: 
Tax levied on an imported product which raises the price of the product in the domestic market as a means to counteracting unfair trade practices by other countries 

Direct tax : 
Tax levied by the Govt. on the income and wealth received by households and businesses. Double taxation: Taxation of income and profits, first in the country in which they arise and then when these incomes and profits are repatriated to the income earner's home country 

Fiscal policy: 
An instrument of demand management which seeks to influence the level of economic activity in an economy through control of taxation and govt. expenditure 

Indirect Tax: 
A tax levied on goods and services Monetary policy: Tool of macroeconomic policy which involves the regulation of money supply, credit and interest rate in order to control the level of spending in the economy 

National debt: 
Money owed by the Central Govt. to domestic and foreign lenders Public debt: National debt and other misc. debt for which the Govt. is ultimately responsible including accumulated debt of nationalized industries and local authorities 

Tax avoidance: 
Efforts to avoid paying tax by legal means Tax evasion: Efforts to evade payment of tax by illegal means 

Ad valorem Tax: 
An indirect tax expressed as a proportion of the price of a commodity Value added tax: A general tax applied at each point of exchange of goods and services from primary production to final consumption. It is levied on difference between the sale price of output and cost of input.

Wednesday, December 26, 2012

The art of Mehendi

Girls irrespective of the age in India like to have mehendi designs in their hands, palms and legs. Normally the mehendi lasts for more than one month to two months depending upon the usage of arms and legs. Especially  at the time of marriage and other important occasions, women are willing to apply mehendi designs in various forms and experienced artists are in a position to apply such designs within a short time between 10 minutes to 30 minutes.

(Pictures: courtesy: Trainees, Canara Bank Rural Self Employment Training Institute, Dindigul)

Friday, December 21, 2012

Reading-The Best 15 Minutes You'll Ever Invest

I recently was made aware of two comparative statistics that I thought youmight find extremely valuable. I learned that the average human readsless than two books per year-one and a half to be exact-with almost two-thirds of those going unfinished. On the whole, humans have lostthe habit of reading good books.
There is a notable exception, however. CEO's of Fortune 500 companiesread, on average, roughly FOUR BOOKS PER WEEK! That equates to about 200times the average for the rest of the world, and I can guarantee that the vast majority of those books are good, meaty stuff that causes them tothink about their business and/or their life in a very healthy way.
Now I am not saying that you yourself need to start reading four books aweek, but I will tell you this-I have personally seen that there is adirect and positive correlation between the amount of good reading an individual does and their influence and income. Unquestionably, the mostlife-changing habit you can develop is to systematically read good books. Charlie "Tremendous" Jones coined the phrase that "Leaders are always Readers". Brian Tracy has seen it happen many times where anindividual went from zero to 30 minutes a day of good reading and sawtheir income double, and we've seen it too. If you do not currently makepositive reading a regular part of your life, DO SO IMMEDIATELY!!!! Alongwith changing who you spend your time with, it is absolutely the mostpowerful way to change your life for the better.
Don't get me wrong-I realize that you need to work, spend time with yourfamily and engage in all the great activities that you engage in, and youshould. You don't need to become a full-time student or some kind of hermit bookworm crazy person. All you need is 15 minutes a day,preferably right in the beginning or right at the end of that day. Anddon't tell me about not having 15 minutes a day-if I followed you aroundfor one day, I'd bet $1000 that I could find a whole hour that could bebetter spent reading and you wouldn't even miss it.  Watching TV, surfingthe internet, eating lunch, just zoning out, the list goes on and on-I dare you to take just 15 minutes out of those kinds of activities each dayand invest it in a good book.

Thursday, December 20, 2012

What do you mean by “Baltic exchange; Quantitative easing and Giro?

What do you mean by “Baltic exchange?”
It is an exchange that handles the trading and settlement of both physical contracts and derivatives relating to shipping and maritime transportation. The Baltic Exchange provides daily prices for freight, and tracks shipping costs through several indexes. Traders use these indexes to settle Forward Freight Agreements (FFAs) which are freight futures contracts.
What do you mean by “Quantitative easing”?
Quantitative easing is an unconventional monetary policy used by central banks to stimulate the national economy when conventional monetary policy has become ineffective. A central bank implements quantitative easing by buying financial assets from commercial banks and other private institutions with newly created money in order to inject a pre determined quantity of money into the economy. This is distinguished from the more usual policy of buying or selling government bonds to keep market interest rates at a specified target value
What is meant by “Giro?
It is a payment transfer from one bank account to another bank account and instigated by the payer, not the payee. Giros are primarily a European phenomenon; although electronic payment systems such as the automated clearing house exist in the United States and Canada, it is not, as yet, possible to perform third party transfers with them.

Wednesday, December 19, 2012

Nail disorders

The universal "wife"dom

ஒரு பெரிய நிறுவனத்தில வேலை பார்த்துக் கொண்டிருந்த ஒரு இளைஞன். அடிக்கடி நோய் வாய்ப்பட்டுக்கிட்டிருந்தான்.

பெரிய பெரிய டாக்டர்களைப் போய்ப் பார்த்து, மருந்து ,இஞ்செக்ஷன் எல்லாம் வாங்கிப் போட்டும், எவ்விதப் பயனும் கிடைக்கவில்லை. கடைசியில் அவனுடைய
புத்திசாலி மனைவி ஒரு நாள் சொன்னா, ‘நீங்க மனுஷங்களுக்கு வைத்தியம் பார்க்கிற டாக்டர்களை விட்டுட்டு ,ஏதாவது ஒரு நல்ல வெட்னரி டாக்டர்கிட்டே (மிருக டாக்டர்)
உடம்மைபைக் காட்டுங்க! அவர்தான் உங்களுக்கு சரியான ட்ரீட்மெண்ட் கொடுக்க முடியும்’னாள்.

என்னது மிருக டாக்டர்கிட்டேயா ? உனக்கென்ன மூளை கெட்டுப் போச்சா?’ன்னு சீறினான் கணவன்.

‘எனக்கொண்ணும் கெட்டுப் போகல! உங்களுக்குத்தான ் எல்லாமே கெட்டுப் போய் கிடக்கு!
காலாங்காலத்தாலே கோழி மாதிரி விடியறதுக்கு முன்னமேயே எழுந்திருக்கீங்க!
அப்புறம் காக்காய் மாதிரி குளிச்சிட்டு, குரங்கு மாதிரி ‘லபக் லபக்’னு ரெண்டு வாய் தின்னுட்டு ,
பயந்தயக்குதிரை மாதிரி வேகமாக ஓடி ஆபிசுக்குப் போறீங்க!
அங்கே போய் மாடு மாதிரி உழைக்கறீங்க! உங்களுக்கு கீழே வேலை செய்றவங்க மேலே கரடியா கத்தறீங்க!
அப்புறம் ஆபிஸ் விட்டவுடனே, ஆடு மாடுங்க மாதிரி பஸ்லே அடைஞ்சு வீட்டுக்கு வர்றீங்க! வந்ததும் வராததுமா,
நாள் பூராவும் வேலை செஞ்ச களைப்பிலே நாய் மாதிரி என்மேலே சீறி விழறீங்க! அப்புறம் முதலை மாதிரி ராத்திரி சாப்பாட்டை ‘சரக்
சரக்’னு முழுங்கிட்டு, எருமை மாடு மாதிரி போய் படுத்து தூங்கறீங்க!
மறுபடியும் விடிஞ்சா அதே மாதிரி கோழி கதைதான்! இப்படி இருக்கிறவங்களை மனுஷ டாக்டர் எப்படிங்க குணப்படுத்த முடியும்?
அதனாலதான் சொல்றேன், நாளைக்கே ஒரு கால்நடை டாக்டரைப் போய் பாருங்க!” என்று ஒரே மூச்சில் சொல்லி முடித்தாள்
என்ன பதில் சொல்வதென்று தெரியாம கணவன் முழிக்க, கோட்டான் மாதிரி முழிக்காதீங்க’
போங்கன்னு உதாரணம் வச்சாளாம் மனைவி..

Sunday, December 16, 2012


01. When a company wants to open an account with a bank, they have to produce the following namely; memorandum of association, articles of association, certificate of incorporation, board resolution and certificate of commencement of business
02. Banks are subjected to the following risks namely; credit risk, liquidity risk, operations risk and market risk
03. Account to KYC guidelines, customers are classified into low risk customers, medium risk customers and high risk customers
04. Low risk clients are – salaried customers, government departments, government owned companies, regulatory and statutory bodies
05. Medium risk clients are – High networth individuals, Non resident individuals, blind people and pardaneshin women
06. High risk clients are – trusts, charities, NGOs receiving donations, sleeping partners, persons who are covered under foreign contribution act, politically exposed persons of foreign origin, non face to face customers, high net worth NRI clients and bullion dealers and jewelers
07. Agriculture advances can be classified into direct agriculture and indirect agriculture
08. The following are considered to be the direct agriculture activities namely; finance to individual farmers, self help groups and joint liability groups who avail loan for agricultural purpose, crop production, investment loans, pre harvest and post harvest activity related loans
09. Indirect finance comprises of 2/3 rd loans to corporate, partnership firms, agro clinics and agribusiness centre, credit to fertilizers and pesticide and seed dealers, drip irrigation activitities and sprinkler activities
10. Priority sector loans consist of retail trade, small business, professional and self employed, agriculture, small scale industries, self help groups, DRI loans, SC/ST beneficiaries
11. The following are considered to be weaker sections as per RBI guidelines – small business, marginal farmers, artisans/village and cottage industries for whom loans were granted upto Rs. 50000; SGSY beneficiaries, SC/ST beneficiaries, DIR, SJSRY beneficiaries, self help groups and minority community beneficiaries
12. In the case of deposits, father and mother are called as natural guardians
13. Savings bank account is termed as mother of deposits
14. The following security provisions are available in a currency note namely; security thread, latest image, micro letterings, identification mark, intaglio printing, flurescence, optically variable ink
15. The different categories of cooperative banks in the country are – primary agricultureal credit societies, district central cooperative banks, state cooperative banks or apex banks, land development banks, SCARDB and primary urban cooperative banks
16. The rights of customers are – right to line, right to set off, right to appropriation, right to charge interest, commission and service charges
17. Lien is classified into particular lien and general lien
18. Different types of NBFC companies are – equipment leasing, hire purchase company, loan company, asset finance company, residuary non banking company, mutual benefit financial company, mutual benefit company and miscellansous non banking company
19. The following private insurance companies are available in the country namely; HDFC standard life insurance co limited, MAX New York Life Insurance Co. Limited, ING Vysya Life Insurance Co Private Limited, ICICI prudential life insurance co limited, Kotak Mahindra life insurance co limited, Iffko Tokyo General Insurance co limited, Metlife India Insurance co limited, SBI life insurance co limited.
20. The specific principles of insurance business are – utmost good faith, insurable interest, indemnity, proximate cause and subrogation
21. The various products of Life Insurance corporation of India are – Term Insurance, whole life, endowment plans, money back, children’s assurance plan and unit linked insurance plan
22. PMAC – Primary market advisory committee
23. SMAC – Secondary Market advisory committee
24. SCODA – SEBI committee on disclosures and accounting standards
25. TDICI – Technology development and Information company of India Limited
26. CFC – Credit capital finance corporation
27. VCF – venture capital fund
28. GVCFL – Gujarat venture finance company limited
29. GIIC – Gujarat Industrial Investment Corporation Limited
30. RCTFC – Risk capital and technology finance corporation Limited
31. RNBC – Residuary non banking company
32. MBC – Mutual benefit company
33. MNBC – miscellaneous non banking company
34. ARWIND – Assistance to rural women in non farm development
35. NABCONS – NABARD consultancy services
36. STCC – short term rural cooperative society
37. FSDC – financial stability and development council
38. PCR – Partial rupee convertibility
39. CAC – Capital account convertibility
40. GST – goods and services tax has been replaced by VAT
41. Investor protection fund was established by BSE
42. FRBM – Fiscal responsibility and budget management
43. Yuan is the currency of China
44. Credit cards and debit cards are called as plastic money
45. IFRS – International finance reporting standards
46. The different types of credit are cash credit, micro credit, simple overdraft, no frill loans and rural credit
47. IPR – Intellectual property rights
48. State Bank of Indore was merged with State Bank of India
49. Banking services fall under service sector
50. Laxmi commercial Bank merged with Canara Bank


01. The following are covered in negotiable instruments act: promissory note, bill of exchange, cheque, exchequer bill, circular note, dividend warrant, share warrant, bearer debenture, bank note, bank draft
02. The following are not negotiable instruments: money order, postal order, deposit receipt and share certificate
03. The following are semi negotiable instruments: bill of lading, dock warrant, carriers’ receipt, letters of credit, railway receipt and wharefinger’s certificate
04. The bill of exchange consists of three parties namely; drawer, drawee and payee
05. There are four caterogiries of cheques namely; open cheque, crossed cheque, bearer cheque and order cheque.
06. Open cheque is un crossed cheque or is called as blank cheque
07. Two parallel transverse lines on the face of the cheque denotes crossing of the cheque
08. When the name of any bank is written between the two transverse lines, it is called as special crossing
09. Normally all cheques are bearer cheques. It means that it can be payable to the payee or to the bearer of the cheque
10. By striking the words “bearer” in the cheque, the cheque can be made payable to order
11. Cheques can also be categorized into ante dated cheque, stale cheque, mutilated cheque and post dated cheque
12. When the cheque is out of date, it is said to be a stale one
13. When the cheque contains unwanted words or figures in the chque and some portion of the cheque is found missing, it is said to be mutilated
14. Post dated cheques are cheques where the date of the cheque is found to be the future date
15. The following are the varieties of hundies namely; darshani hundi, mitti hundi or muddati hundi, nam-jog hundi, furman jog hundi, dhani jog hundi, shah jog hundi, jokhim hundi, jawabi hundi, khaka hundi and khoti hundi
16. Dharshani hundi is payable immediately on demand
17. Mitti hundi is payable after the expiry of some period
18. Nam jog hundi is payable only to person named in the hundi
19. Furman jog hundi is payable to person the named in the hundi or any other person
20. Dhani jog hundi is payable to holder or bearer
21. Shah jog hundi is payable to shahs in the area
22. Johim hundi consists of conditions
23. Jawabi hundi invites acknowledgment from the person on acceptance
24. Khaka hundi is one which has been paid already
25. Khoti hundi is a defective hundi
26. In the case of deposit, the customer is creditor and the banker is debtor
27. In the case of overdraft account, the banker is creditor and the customer is debtor
28. A person who makes deposit with the bank is called as the depositor
29. A person who avails loan from the bank is called as the borrower
30. When any loan is backed by any immovable security like land, house, factory, it is said to be under mortgage
31. The person who mortgages the security is called as the mortgagor and the banker is called as the mortgagee
32. When any loan is backed by any movable security like auto, truck, computer etc. it is said to be under hypothecation
33. The person who hypothecates the security is called as the hypothecator and the banker is called as the hypothecatee
34. When a person avails any loan against the security of LIC policy, it is said to be under assignment
35. When a person offers a fixed deposit as security for a loan, it is treated as pledge
36. The customer who pledges the deposit is called as pledgor
37. The banker on whom the deposit is pledged is called as the pledge
38. In the case of locker, the customer is lessee and the banker is called as lessor
39. In the case of safe custody receipt, the customer is called as bailor and the banker is called as the bailee
40. The different types of customers are – individuals and others
41. The individuals can be single individuals, joint individuals, minors, married woman, pardanashin woman, illiterate person and lunatic
42. In the case of hindu undivided family, the seniormost male member is called as the karta
43. The business accounts can be opened by partnership firm, trustees, societies, charitable institutions and clubs
44. The person named in the will to receive the properties in the will is called as executor
45. In the absence of will, the person who is appointed by the court to receive the money is called as the administrator
46. Proprietorship firm is an account managed by a single individual called as proprietor
47. Companies can be divided into private limited company and public limited company
48. When the bank in India opens an account with a bank in a foreign country it is called as nostro account
49. When the bank in a foreign country opens an account with a bank in India, it is called as vostro account
50. When a bank in one foreign country opens an account with another bank in another country it is called as Loro account

How to manage time profitably and constructively?

Time management is essential for every human being. Some are in need of time; some do not know as to how the time has to be spent and many others are trying to find out avenues by which they want to get themselves free from the boredom.
In the race, it is the person who is able to utilize each minute of his time in a better way is successful in accomplishing various tasks.
The executives who are heading the corporate are in a position to define the time at their disposal in a profitable manner. This is possible for everybody provided they are willing to adopt strategies towards time management on a daily basis and once they are accustomed to the busy schedule, they can find time at any point of time.
A flight travel which lasts for more than two hours can be spent profitably.
·         The book lovers can read the book of their choice during the hours and the following are the benefits by spending the time in reading a book.
·         With the target in mind in finishing the book consisting of more than 400 pages within two hours, he can practice reading the pages as fast as he can.
·         He can improve his knowledge about the difficult words.
·         On account of improvement in the knowledge, he is able to produce good writing materials in future days.
·         He is satisfied on account of the facts that he has spent his time profitably and constructively.
·         He gets relaxed and is comfortable in participating in any decision making ventures.
A person who is busy never says that he lacks time and in fact he is constantly thinking about the proper utilization of time for some constructive activities.
Success in life is possible only by better time management.

Wednesday, December 12, 2012


01. RBI was established during the year, 1935
02. RBI act was enacted during 1934
03. RBI has three main functions namely; traditional functions, development functions and regulatory functions
04. The traditional functions consist of issue of currency, forex management and miscellaneous functions.
05. The miscellaneous functions include export assistance, clearing house functions, change of currency, transfer of currency, publication of statistics and other information, training in banking
06. The development functions mainly consist of agriculture development, promotion of industrial finance, promotion of export through refinance, development of bill market and development of banking system
07. The regulatory functions mainly consist of qualitative credit control, bank rate, differential rate of interest, open market operations, CRR, SLR, direct action, credit authorization scheme and moral persuasion
08. The financial system comprises – financial markets, financial assets and financial intermediaries and institutions
09. Financial markets are classified into money market and capital market
10. The capital market consists of the following financial instruments namely; government or gilt edged securities, corporate securities, shares, debentures, public deposits and loan from institutions
11. The financial regulatory authorities in India consist of RBI, SEBI and IRDA
12. The money market terms are: money market, call money, notice money, term money, held till maturity, yield to maturity, coupon rate, treasury operations and gilt edged securities
13. The financial instruments consist of bills, treasury bills, promissory notes, hundies, certificate of deposits and commercial papers.
14. Stock exchanges are available in important cities in the country
15. Mumbai stock exchange – Mumbai
16. National stock exchange – Mumbai
17. Ahmedabad stock exchange – Ahmedabad
18. Bangalore stock exchange – Bangalore
19. Bhubaneswar stock exchange – Bhubaneswar
20. Kolkatta stock exchange – Kolkatta
21. Cochin stock exchange – Cochin
22. Coimbatore stock exchange – Coimbatore
23. Delhi stock exchange – Delhi
24. Guwahati stock exchange – Guwahati
25. Hyderabad stock exchange - Hyderabad
26. Jaipur stock exchange – Jaipur
27. Ludhina stock exchange – Ludhiana
28. Madhya Pradesh stock exchange – Indore
29. Chennai stock exchange – Chennai
30. Magadh stock exchange – Patna
31. Mangalore stock exchange – Mangalore
32. Meerut shah stock exchange – Meerut
33. OTC Exchange of India – Mumbai
34. Pune stock exchange – Pune
35. Capital stock exchange of India – Trivandrum
36. Uttar Pradesh stock exchange – Kanpur
37. Vadadora stock exchange – Vadadora
38. There are different types of banks namely; savings bank, commercial bank, Industrial bank, development bank, Land development bank, indigeneous bank, central bank, cooperative bank, exchange bank, consumer bank
39. Banks have the following functions namely; primary functions, secondary functions and social development functions
40. The primary functions consist of accepting deposits namely; fixed deposit, savings bank, current account, recurring deposit, demat account
41. The primary functions consist of granting different categories of loans namely; cash credit, overdraft, loans and advances, discounting of bill of exchange, investment in government securities
42. The secondary functions can be classified into agency or representative functions and general utility services
43. The agency or representative functions consist of – collection and payment of various items; purchase and sale of securities; trustee and executor business; remitting money; purchase and sale of foreign exchange; issue of letter of references and other agency functions
44. The general utility services consist of locker facilities, business information, help in transportation of goods, acting as a referee, issuing of letters sof credit, acting as underwriters, issue of traveler cheques, issue of gift cheques and dealing in merchant banking
45. The social development functions consist of capital formation, inducement to innovations, impact on the rate of interest, role on the development of rural sector and  helpful in pushing up the demand
46. The popular services covered under e-banking are; automated teller machine, debit card, credit card, smart card, EFT, cheque truncation payment, mobile banking, internet banking and telephone banking
47. The services of e-banking include bill payment service, funds transfer, credit card customers, railway pass, investing through internet banking, recharging prepaid mobile connections, shopping, RTGS funds transfer and online payment of taxes
48. The Narasimhan committee report I pertains to 1991 consisting of reduction in SLR/CRR; phasing out of directed credit program; interest rate determination; structured reorganization of the banking sector, establishment of ARF tribunal, removal of dual control and banking autonomy
49. The second Narasimhan committee report pertains to the year, 1998 consisting of strengthening of banks in India, narrow banking, Capital adequacy ratio, bank ownership and review of banking laws
50. The cooperative banking structure consists of five categories namely; primary agricultural credit society; district central cooperative banks; state cooperative banks or apex banks, Land Development Banks, SCARDB and Primary Urban Cooperative banks