JAIIB & CAIIBText Books by IIBF

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Say No to Merging : UFBU

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Dear Friends,

UFBU said don't encourage merge of associate banks with SBI.
for the reason please read below,

Now the major ‘financial/political decision’ of consolidation of all Indian Public Sector Banks have started with an uncomparable pace. The MODI governement. wants them to be the greatest ever servant of Finance Capital in India. The huge public fund, which symbolises the long traditions of trust is going to be just a catalyst for corporate gambling. At the first stage, in the name of building Big Banks, the 5 associate banks of State Bank of India is expected to be acquired by SBI within September 2016. The associate banks are regarded as the lifeblood of State Economies. Merging with SBI will hinder the present financial partnership with the respective State Govts. Moreover customers will be losing their favourite banks forever. As the public sector banks are made capsule sized big banks, then it’ll be very easy for the foreign corporate banks to take over these Indian banks. The public money is never cared by the govt. The hard earned profits of Indian Banks will once flow into the pockets of a few corporates who even though cheat the PSBs are regarded as the most patriotic and sacrificing people. Its high time to barricade this move of the Govt. and Bank managements. Understand that, Indian Banks were not formed just to compete with foreign banks but fulfil the dreams of all Indians.

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Contribute to Union Bank Officer to cure from Blood Cancer

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Dear Friends,

Sorry for Delay in New posts, As we are busy in our daily banking routines. Sorry and Thanks for your cooperation.

Please forward this message to your friends and colleagues to help our member banker from union bank. thanks in advance for share.


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Going On Strike is Not a Misconduct - AIBEA

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Going On Strike is Not a Misconduct - AIBEA

Dear Friends,

As you know all 5 Associate Bank employees went on strike on 20th May 2016 Protesting Merging Associate banks with SBI.

All 5 Associate Bank management tried to intimidate employees (Unions) , who are going to strike on 20th May 2016 says Going on Strike is a Misconduct and not legal as per Bipartite Settlement and Rules and Disciplinary action will be taken.

About this Issue AIBEA clarifies as below,

going on strike  is not a misconduct at all and it is a legitimate trade union right. Under the law, management also don't have any right declare any strike as legal.

when managements of the associate banks expect the union to adhere to law and rules, it is for them to introspect and see how they have violated the principles of collective bargaining and provisions of bilateral settlement in imposing unilateral service conditions on the employees of associate banks.

Let them introspect whether bringing a serious agenda like closure of the bank as a casual table agenda in the board meeting in corporate governance.

-CHV, GS, AIBEA.


Thank you Friends, 

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All the Best JAIIB Aspirants for Paper 2 | Accounting & Finance for Bankers

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All the Best JAIIB Aspirants for Paper 2 | Accounting & Finance for Bankers

Dear Friends,

All the Best for your JAIIB second paper such as  Accounting & Finance for Bankers.

Thank you friends,

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What Calculators can be used in JAIIB and CAIIB exams ?

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What Calculators can be used in JAIIB and CAIIB exams ?

Dear Friends,

So many of our Friends asked me about what calculators can be used for JAIIB and CAIIB exams?

The answer for that question is ,

You can use a simple calculator that has main and basic functions of Addition, Subtraction, Multiplication and Division. These Functional calculators are only eligible to allow in exam center. Other calculators such as Scientific calculators and other multi functional calculators are not allowed in exam hall.

Note:  Copying the exam paper i.e. noting down the questions of the question paper in exam hall also not allowed officially.

  
Use Normal Calculators. (these are only allowed).


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Merging of 5 associates with SBI will be completed in this Finacial year says Arundati Bhattacharya

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Merging of 5 associates with SBI will be completed in this Finacial year says Arundati Bhattacharya

Dear Friends,

 All 5 Associate Banks of SBI will be merged with SBI in this Financial year 2016-17 (said by Arundati Bhattacharya, Chairman of State Bank Group)  and will be merged within 9 months (Said by Jyoti Gosh, MD of SBBJ).

As all 5 Associate Banks are  going on strike on 20th May 2016 (tomorrow) to resist merging with SBI individually and wish to merge all 5 associate banks into One Bank (separate entity from SBI), But the MD SBBJ of Jyoti Gosh says it is a good sign and positive moment to merge all associate banks with SBI and says the process of merging will be completed within 9 months.



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Easy Method To calculate YTM (Yield To Maturity ) for JAIIB / CAIIB 2016

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Dear Friends,

Most of Our Friends confused to calculate YTM for their JAIIB and CAIIB exams.
Here we are providing an easiest formula to calculate  YTM (Yield To Maturity ).

There are many ways to calculate YTM but the easiest of all is the following,


Easiest Method To calculate YTM (Yield To Maturity ) for JAIIB / CAIIB 2016



Where,

C = coupon amount (ex: if coupon rate is 7% of a bond face value of 1000 bond  is 1000X0.07= Rs70)

A = Face Value amount of a bond or instrument.

P =  Market value or Price of bond or instrument after n years.

n = No.of years (period of Time)


Example Problem to calculate YTM:

Q) Treasury Bond with a face value of Rs 1000/- was issued at 9% coupon and maturing after 8 years. The current market price is 800. What return would the investor earn if he/she buys and hold the bond till maturity?

C = Coupon income = Face Value of Bond X 9% (i.e, 1000X0.09=90)

A= Face value = 1000/-

P = Present market value = 800/-

 n = No.of Years = 8 years

So     YTM = {C+ ([A-P]/2)} / [(A+P)/2]


 So    YTM = 0.1277      
      
   i.e  YTM = 12.77%


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5 Associate Bank Employees goes on Strike 20th May - AIBEA

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5 Associate Bank Employees may goes on Strike 20th May - AIBEA


In the Board meetings of Associate Banks, at the dictates of SBI, agenda was brought without notice to close down Associate Banks and merge with SBI despite opposition by Workmen Directors and other Directors. Rise in protest and hold demonstrations before Associate Banks today evening and tomorrow. Also all employees of Associate Banks to go on strike on 20th May all over India.
 Circular follows . CHV AIBEA/ KSK SSBEA
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Introduction to Bills of Exchange Module C of Accounting and Fianance for Bankers Paper of JAIIB

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Bills of Exchange

Dear Friends, 

In the Bills of Exchange topic we should first know about the meaning and concept of Bills of Exchange. 

So let us see with example,

Mr. Rich sold goods on credit to Mr. Poor for  50,000 on 1st Apr 2016. 

After 3 days when Mr. Rich Approached  Mr. Poor for the payment , MR. Poor requested to give him 3 months to repay.  Mr. Rich says I will give you 3 months time if you give some security. Mr. Poor replies I’m ready to sign on any document that you want.  

Mr.Rich takes a white paper and he writes on it the following phrase,

“Pay to the Order of Mr. Rich Rs 50,000/- 3 months after the date.”

Mr. Rich also writes date, place of preparing paper, puts his signature on paper. Now Mr.Rich sends this paper to Mr. Poor and asked him to sign on the revenue stamp. Mr.Poor signed on the revenue stamp and written the word “accepted” across the face of the  paper or Bill . Paper now becomes a valuable legal document called as a Bill of exchange. Mr. Poor hands over the bill to Mr. Rich after acceptance.



This is known as Bills of Exchange.

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AIBEA requests Finance Ministry Unification of 5 associate banks into single entity

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Dear Friends,

 AIBEA requests Ministry of Finance to merge 5 Associate banks into single Entity than merging one by one with SBI

     
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Calculation of Interest & Rule 72 Lesson : JAIIB paper 2 Module A of Accounting & Finance for Bankers

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Dear Friends, For JAIIB Paper 2 Accouning and Finance for Bankers ,

We are Now Discussing Module A first lesson / topic such as Calculation of Interest

Simple interest

I= PTr  


where,

 I= interest,
P= principle,
T= time,
r= rate of interest is with decimal      
[ ex. If interest rate is 6% , then ‘r’ will be 0.06. this formula is helpful to make faster calculations than going for traditional  I =  PTR÷100 ]

Compound Interest:

Calculation of Interest & Rule 72 Lesson : JAIIB paper 2 Module A of Accounting & Finance for Bankers


Where,
 A = Amount of money accumulated after n year including interest.
P = Principle (Initial amont)
r = Annual Rate of Interest  [ ex. If interest rate is 9% , then ‘r’ will be 0.09 ]
  n  = No.of Compounding periods
(example :  for compounding annually n=1, compounding halfyearly n=2, compounding quarterly n=4, compounding monthly n=12)


The Rule 72

The Rule 72 is to find in how many years thus amount will be double (whether it is investment/debt)

Ex: A borrowed Rs.100 from B with rate of interest is 6%. Tell us in how many years will it double (you may use rule 72)

To solve this just divide 72 by the rate of interest. 

Here,

   72÷6=12 

so it says that 100 will become 200 with interest in 12 years. This is the use of Rule 72.

In our next post we will discuss Annuities and Present value of Annuity.

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AIBEA Observes General Strike on 2nd September 2016

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Dear Friends,

AIBEA calls to join for Strike on 2nd September 2016 as General Strike of all employees in all fields of workers. To support Anti-people, anti-workers policies of BJP / NDA Government.

For More updates keep on visiting. Thank you Friends.
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Indian Post offices now converting into CBS

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 Indian Post offices now converting into CBS

Dear Friends, Indian Postal service now converting into CBS,

Government informs in Lok Sabha that more than 21,000 post offices are converted into Core Banking Solutions. Its biggest network in the world. By next March, 1,40,000 postmen are being provided with handsets for processing transactions offsite and online. Payment Bank of post office is being launched. Top 50 banks in the world are showing interest in using the services of post. The system will be thrown open for e- Commerce platform also. Newest up will be three times the set up of present banking system. The system shall not have any NPA issues.

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All India Strike in the 5 Associate Banks of SBI on 7th June and 28th July, 2016

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All India Strike in the 5 Associate Banks of SBI on 7th June and 28th July, 2016

ü  Demanding merger of 5 Associate Banks as one entity
ü  Opposing merger with SBI
ü  Demanding settlement of pending issues
Meeting of the Executive Committee of State Sector Bank Employees Association (SSBEA) comprising of the Unions in the 5 Associate Banks viz. State Bank of Travancore (SBT), State Bank of Mysore (SBM), State Bank of Hyderabad (SBH), State Bank of Bikaner and Jaipur (SBBJ) and State Bank of Patiala (SBP) was held in Chennai today under the guidance of All India Bank Employees Association. SSBEA represents the 45,000 employees of these 5 Associate Banks.
1.    The meeting observed that the SBI management continues to attempt at merger of the 5 Associate Banks with them. Today’s meeting decided that any such move should be opposed and demanded that all the 5 Associate Banks be made as one entity and made as an effective Bank of substantial size to ensure better growth of the Bank.

2.    The meeting also expressed its strong opposition to the attempts of the SBI management to unilaterally impose adverse service conditions on the employees of the Associate Banks in violation of the Bipartite Settlement. 

3.    The meeting regretted that the managements of the Associate Banks are refusing to settle genuine demands like revision in staff housing limits which has been improved in all other Banks except the Associate Banks, refusal to extend the Govt. guidelines on compassionate ground appointments which has been extended to all Banks except the Associate Banks, etc. 

4.    The meeting reiterated its preparedness to settle the demands of the union and the management through mutual discussion and bilateral talks as advised by the Chief Labour Commissioner.

5.    The meeting also decided on the following agitational actions:
Ø  Demonstrations, mass meetings, rallies, processions, etc. on 27th May, 10th June, 21st June, 29th June and 10th July, 2016
Ø  All India Strike in 5 Associate Banks on 7th June and 28th July, 2016.

Com C H Venkatachalam, General Secretary, AIBEA participated in the meeting expressed full support and solidarity for all the agitational programmes.
C.H.VENKATACHALAM
GENERAL SECRETARY

Press Release by C.H. VENKATACHALAM, GEN. SECRETARY, AIBEA
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Bank of Baroda gets huge loss of Rs 5,067 Cr for the Financial Year 2015-16

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Dear Friends,

 As all banks are Declaring their Balance sheets for the financial year 2015-16, Bank of Baroda also revealed its balance sheet.

 As all Banks are in losses in the Financial year 2015-16 , Bank of Baroda also gets a huge loss of  Rs 5,067 Crores for the Financial Year 2015-16. It also got huge loss Rs 3,230.14 Crores in the Quarter 4 of the financial year 2015-16. Totally it gets 5,067 Crores loss in overall.

GNPAs also increases from 3.72% 9.99to%.


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UCO Bank gets a loss of Rs 2,799.2 Cr for the Financial year 2015-16

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UCO Bank gets a loss of Rs 2,799.2 Cr for the Financial year 2015-16

Dear Friends,

 As all banks are Declaring their Balance sheets for the financial year 2015-16, UCO Bank also revealed its balance sheet.

 As all Banks are in losses in the Financial year 2015-16 , UCO Bank also gets Rs 2,799.2 Crores loss in the Financial Year 2015-16. It also got huge loss Rs 1,715.1 Crores in the Quarter 4 of the financial year 2015-16. Totally it gets 2,799.2 Crores loss in overall.

Net NPAs also increases from 4.30% to 9.09%.


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Union Bank of India Gets Profit of Rs 1351.6 Cr

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Union Bank of India Gets Profit of Rs 1351.6 Cr

Dear Friends,

 As all banks are Declaring their Balance sheets for the financial year 2015-16, Union Bank of India also revealed its balance sheet.

 Union Bank of India gets Rs 1,351.6 Crores Profits for the Financial Year 2015-16. It also got huge profits Rs 96.1 Crores in the Quarter 4 of the financial year 2015-16. Totally it gets 1,351.6 Crores profit in overall.

Net NPAs also increases from 2.71% to 5.25%.


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Central Bank of India gets a Rs 1,418.1 Cr Loss for the Financial year 2015-16

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Central Bank of India gets a Rs 1,418.1 Cr Loss for the Financial year 2015-16

Dear Friends,

 As all banks are Declaring their Balance sheets for the financial year 2015-16, Central Bank of India also revealed its balance sheet.

 As all Banks are in losses in the Financial year 2015-16 , Central Bank of India also gets Rs 1,418.1 Crores loss in the Financial Year 2015-16. It also got huge loss Rs 898 Crores in the Quarter 4 of the financial year 2015-16. Totally it gets 1,1418.1 Crores loss in overall.

Net NPAs also increases from 3.61% to 7.35%.


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Vijaya Banks Net Profit 381.80 Cr for the Financial year 2015-16

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Dear Friends,


  Government Undertaking PSB Vijaya Banks Net Profit for the Financial year 2015-16 is Rs 381.80 Crores.  But Last time for the Finacial year 2014-15 Net Profit is 439.41 Crores. It shows that Vijaya Bank's Net Profit growth reduced than last year. 

NPAs also increased from 2.78% to 6.64%.
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All India Bank Strike on July 29 by UFBU

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All India Bank Strike on July 29 by UFBU

As earlier plan for strike on 25th May 2016 postponed, Now Unions confirmed call for strike on 29th July 2016

As Central government has been desperately trying to dilute its stake in the public sector banks and trying towards a privatisation of PSBs. To oppose the government's reform programme for the banking sector, all the nine bank unions on Wednesday called for a one-day strike on July 29, a top union official said on Wednesday.

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RBI governor Rajan may get chance as RBI governor for 2nd term?

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Raghuram Rajan became as RBI Governor in  early-September,   Now for the second term also he may get chance to stay in same position as RBI governor.  But the government still not yet informed Rajan about this matter, final step is to be taken by government, it is now open to give Rajan a 2nd chance, says reports.


Raghuram Rajan became as RBI Governor in early-September, Now for the second term also he may get chance to stay in same position as RBI governor.


 But the government still not informed Rajan about this matter, final step is to be taken by government, it is now open to give Rajan a 2nd chance, says reports.
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Strike on 25th May 2016 Postponed - AIBEA

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Dear Friends,

  As Government's headstrong attitude regarding Banking Sector Reformation AIBEA decided that there would be State level rallies on 11th May 2016 and Call for Stike on 25th May 2016. But in the recent meeting with UFBU both unions decided to go for agitational programmes than to go for Strikes. So the Unions decided to  postpone (will be reschedule later) Strike call which had planned on 25th of MAy 2016 and also Rallies on 11th May 2016.

Below one is the circlular released by AIBEA on 1st May 2016.
.


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Clarification From IBA about Privileged leaves

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Banks Must direct customers to use Alternate Channels to get 5 days a week

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   Article on Five Days a Week for Bankers


Dear Friends,


       Bankers must direct customers to use Alternate Channels or 24x7x365 Channels to To develop new technology in the Banking Industry to compete with world class Banking this is the thought of the RBI. It also helps Bankers to get five days a week which in turn reflects a healthy banking and will also increase staff productivity too and a better customer satisfaction. It also helps banks in a way that they can get more profits as the staff requirement will be less if customers work will be done by Machines.

  Now a days one topic creating halchal like RBI is already ready to give 5 days week to let banks to provide The Best Alternate Channels Methods to their customers. So Friends its better to drive customers to alternate channels. Then bankers will get 5 days week. that is only the truth.

What are Alternate Channels (available 24 hours a day 7 days a week and 365 days in a year):

1. ATMs (Automated Teller Machines) 

2. CDMs or Recyclers (Cash Deposit Machines)

3. Internet Banking

4. Mobile Banking (has largespace to get customer base now-a-days)

5. POS (with Point Of Sale you can Purchase or and withdraw money upto 1,000/- at merchant)

Some other products / channels also there like Tab Banking, Buddy....etc.

Benefits to Customers:

1. Customers Can do their transactions at any point of in a day.

2. Cutomers can do their transactions on their own

3. Most self satisfaction to customers.

4. as said earlier it is a 24 x 7 x 365 channel for customers.

5. Reduces frauds or getting involved in frauds as they do their transaction on their own (Educated)

Benefits to Bankers:

1. Reduces strain as customers are away from branches or from premises.

2. Increases productivity in the work

3. Health Benefits ( as you face many customers you will get irritated and then gets BP)

4. Less transactions in the branch premises

5. Can show / prove   their talents in their respective fields. 

Benefits to Banks:

1. Less transaction cost benefits banks to get more profits. As human banking (interacting customer) is more costlier than customer uses alternate channels.

2. As Customers are away from banks they can use employees for alternate products or alternate departments.

3. Less Staff requires (this will also reflects profits).

4. More number Businesses can include (example insurances, product sales...etc)


  So Dear Friends at least in Our upcoming Wage Settlement 11th Bipartite Settlement we should fight for Five Days a Week in Indian Banking Industry.

-- by Suresh Chandra 
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RBI Governor Rajan gives warning to Banks to Don't Give Education loans to Useless Degrees

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RBI Governor Rajan gives warning to Banks to Don't Give Education loans to Useless Degrees


Dear Friends,

    On Saturday at Shiv Nadar University’s convocation ceremony Rajan said that Banks should made efforts to make quality education affordable & aware students to be careful of “unscrupulous schools and colleges” that left alumni with high debt and useless degrees.

Rajan also said that Loans should be given to the students who joins in well known and recognised colleges or universities.
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Tip Of The Day 9

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(Note: All brand logos used here are belongs to respective owners.)


Dear Friends, Good Evening.

Today's Tip is,

TIP: When You are Browsing internet, Use Google Chrome browser to load Faster your required webpages. Use  even in Mobiles. It saves lot of time to load a webpage. 

Also use Pocket app in your mobile and extension in chrome store (for desktops) to save your webpages offline and to see it later (It is Useful when you find any information and want to see it later in offline mode).


Thank you Friends, Keep Smiling..........!!!!!!!!!!!!
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Forbes Asia 50 Powerful Businesswomen 2016 (Nita Ambani & Arundhati Bhattacharya)

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 Forbes Asia 50 Powerful Businesswomen 2016 (Nita Ambani & Arundhati Bhattacharya)

Dear Friends,
Fomous American Business Magazine Forbes Released Asia's 50 Powerful Businesswomen 2016 list.
Nita Ambani (Reliance Industries director) and Arundhati Bhattacharya (State Bank of India chairman) ranked top 2 in Forbes Asia 50 Powerful Businesswomen 2016  list, this proves that  women are also making sensation in the business world, despite gender inequalities.
In this list, along with 2 women (above mentioned) 8 Indian businesswomen also got listed in the latest list who among them bring to the table representations from diverse business fields such as  Banking, Biotech, Data Analytics, Textiles, Pharma and Wellness and Beauty.
Here’s what Forbes said on other Indian women on the list:
Ambiga Dhiraj (chief executive, Mu Sigma)
 Dipali (Goenka, chief executive, Welspun India)
Vinita Gupta (chief executive, Lupin)
Chanda Kochhar ( managing director, ICICI Bank)
 Vandana Luthra (vice chairperson, VLCC Health Care)

Kiran Mazumdar-Shaw (chairperson, Biocon)
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AP EAMCET Results Tomorrow (09-05-2016)

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AP EAMCET Results Tomorrow (09-05-2016)

Dear Friends, 

     Tomorrow Andhra Pradesh EAMCET Results will be declared. If you are waiting for your Son's or Daughter's  Result in EAMCET. You can check your Result in the following websites,

Manabadi.com, Schools9.com .....etc


 please share rank in our site if Possible through comment session below of this post.

Thanks and Keep smiling Friends,
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Bank account based Income Tax E-filing validation facility activated

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Bank account based Income Tax E-filing validation facility activated

The Income Tax (IT) Department launched the bank account-based validation system for filing e-ITRs by taxpayers as part of its measure to enhance the paperless regime of filing the annual IT returns.


 "From now, EVC (Electronic Verification Code) can be generated by pre-validating your bank account on the e-filing website," the IT department said in a public advisory.


The facility will be available on the official e-filing portal- http://incometaxindiaefiling.Gov.In/ and it will work by using the OTP (One Time Password) verification system as activated by the the Tax department last year by using the UID (Aadhar) number. 


Punjab National Bank  is the first bank to do so and other banks are also "expected to launch this facility" for those taxpayers who have not availed e-banking facility.



  These measures are used to validate the e-ITR so that the taxpayer doesn’t take the trouble of sending the paper-based ITR-V by post to the Bangalore based CPC (Central Processing Centre) for final resolution & processing.


New Income Tax Return Forms:

 New ITRs have been notified recently.

ITR-1 : It can be filed by individuals having income from salaries, one house property and from other sources including interest.

 ITR-2 : It is filed by Individuals and HUFs not having income from business or profession.

ITR-2A: It is filed by those individuals and HUFs who do not have income from business or profession and capital gains and who do not hold foreign assets.


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