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Hi , Today I am going to discuss about Giro Accounts and its Overview . I just want to make it precise and compact . Now a days Banking industry is moving bit faster by using CBS and EBPP to provide good fecilities to the customers . All banks are moving towards the same goal . Customer satisfaction .Okay Lets come to the point . What is a Giro account . The giro account  is a Credit Transfer process which is a push initiated Transaction . This is a process reverse to the Cheque based debit Transfer . And this Cheque is a pull initiated Transaction . In general  payee Initiate Cheque Transaction which is given to the Payer Bank Customer . That cheque will be collected and moves to clearing house . which will hit the Bank Account of Payer . if there is no funds in that Case Payee will receive information insufficient funds . But In case of Giro transfer the Payer will initiate the Giro Transfer  so Bank will transfer Money directly to the Payees Bank . So here No Ch...

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Hi guys , Pls find below good article which is useful for Interviews BOB . MT 940: MT 940 in banking Terminology is SWIFT MT940 . which is a Customer Statement Message . If customer requests for Statement Bankers can generate MT 940 . :1 ,:2,:4 - SWIFT header : 20 - Short Name of Account Owner : 25: IBAN,SWIFT BIC, Account Sort code information :28C - Staement Sequence Number 60F: Opening Balance of Accoutn whether it is Credit or Debit 61 : statement Line 86 : info to acc owner MT 942: This is a message format used for Iterim Transaction Report :1,:2,:4 - SWIFT header format : 20 - Account Holder short name : 28C : Satement sequence Number :34 F : Floor amount Value 13D: Date and time when  info was created 61 : staement Line 90D: Credit Txn  summary 90C: Debit Txn summary 86 : info acc owner MT 101 : This is a message  type  used to request for transfer of Money Lets Assume  One company is located in different countries . ...

Hi Guys, Those who are preparing for Bank Of Baroda Interview pls update below  Interview questions yourself. Bank Rate: 6% Repo Rate : 4.75% Reverse Repo Rate : 3.25% SLR: 25% CRR: 5% PLR: 11%-12% Enter you DOB ,Time and Place

Major Functions Of RBI Introduction The RBI was established by passing "trasfer of public ownership Act" in Sep-1948 under which the ownership of the bank was passed into the hands of the Government of India with effect from 1st january 1949. Fuctions: The fuctions are classified into three heads,viz., A) Traditional functions B) Promotional functions and C) Supervisory functions. lets see the detailed accont in these heads., A) Traditional functions 1.Monopoly of currency notes issue 2.Banker to the Government(both the central and state) 3.Agent and advisor to the Government 4.Banker to the bankers 5.Acts as the clearing house of the country 6.Lender of the last resort 7.Custodian of the foreign exchange reserves 8.Maintaining the external value of domestic currency 9.Controller of forex and credit 10.Ensures the internal value of the currency 11.Publishes the Economic statistical data 12.Fight against economic crisis and ensures stability of Ind...

IIP number or IIP data (Index of Industrial Production) is a measurement which represents the status of production in the industrial sector for a given period of time compared to a reference period of time. IIp number is one of the best statistical data, which helps us to measure the level of industrial activity in Indian economy. Please note that IIP data is a short-term indicator of our industrial growth till the actual results from Annual Survey of Industries (ASI) is published. IIP data is a very important indicator to the Government for planning purposes and is also used by various organisations like Industrial Associations, Research Institutes, Financial Institues and Academicians. in reference to: What are IIP numbers? ( view on Google Sidewiki )

This is useful article given by this site Administrator in reference to: "Inflation is defined as an increase in the price of bunch of Goods and services that projects the Indian economy. An increase in inflation figures occurs when there is an increase in the average level of prices in Goods and services. Inflation happens when there are less Goods and more buyers, this will result in increase in the price of Goods, since there is more demand and less supply of the goods." - What are the effects of Deflation? ( view on Google Sidewiki )

Hi Guys , Bank Of Baroda Results have been declared on 11.12.2009 . for the posts 355 Specialist officers -2009 . My hearty congratulations those who have got selected Please find below some of the questions asked in Interview Enter with smiley face .. Dont be tensed ..! 1)tell me about yourself? 2)History of BOB and RBI 3)questions related to banking terms like SLR,CRR,INFLATION,DEFLATION,REPO,REVERSE REPO,BANK RATE 4)Burning issues in the state 5)What is core banking? 6)Your role model 7)About your city 8)Some concepts related to your Graduation and Computer science Knowledge 9)BOB financial results 2008-09 10)Hobbies and Family Background Banking Terms Overview ------------------------------------------ 1) Bank Rate: The rate at which banks  barrow funds from RBI (6%) 2) Reverse Repo Rate : The rate at which reserve bank  barrow money from banks 3) Repo rate : when ever banks have insufficient funds , they can barrow money from RBI . the rate a...

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