Bank terminology for interview

LAF-  is a monetary policy tool which allows banks to borrow money through repurchase agreements from RBI.


It is used to aid banks in adjusting the day to day mismatches in liquidity. LAF consists of repo and reverse repo operations.

Banks borrow money from Reserve bank of India to meet short term needs by selling securities to RBI with an agreement to repurchase the same at predetermined rate and date.

 minimum bid for LAF is 5 crore and in multiple of 5 crore..

Securities which are used are transferable Central Govt. dated securities and treasury bills.

what is repurchase agreement????

 lets understand it in layman language..
suppose dodo (SBI) needs Rs.80 from RBI. dodo goes to RBI and asked them to give me rs80, but RBI is not his father-in-law, SUBBU will ask for some thing in return na.....
so dodo provide them security and say that i will buy my security paying rs100 when india-australia series gets over...
now dodo got Rs.80 but promised to pay Rs.100... this difference is the interest (the repo rate) and agreement of buying back the security is the repurchase agreement.....

Repo Rate- is the rate of interest at which RBI subscribe government security to other SCB.
 Or repo rate is the interest rate that RBI charges from SCB when they borrow for short period of time i.e upto 90.

Banks borrow money from Reserve bank of India to meet short term needs by selling securities to RBI with an agreement to repurchase the same at predetermined rate and date.
The rate charged by RBI for this transaction is called the repo rate. Repo operations therefore inject liquidity into the system.


Reverse repo rate- is the rate of interest that reserve bank of india pays to the commercial bank when they park their excess liquidity with the RBI.
Reverse repo operation is when RBI borrows money from banks by lending securities. The interest rate paid by RBI is in this case is called the reverse repo rate.  Reverse repo operation therefore absorbs the liquidity in the system.

NOTE- CRR is also parked with RBI , but it does not fetch any interest. The money deposited above the CRR will fetch interest which is 100 basis point or 1% below the repo rate.

MSF- is the scheme through which bank can borrow up to 2% of their net demand and time liabilities from RBI for 24 hours or one overnight. The interest charged by RBI is 1% more than the repo rate.
the minimum amount that can be borrowed is 1 crore and after that in multiples of 1 crore. 
this facility reduces volatility in overnight rate.

Now if have read carefully you will find that both REPO and MSF are short term loan borrowed by banks from RBI. Interest on MSF is more than that on REPO. SO why any bank will go for MSF???
What is the difference between the two ??????


REPO- borrowed by plegding G SECS over and above the SLR requirement of bank... whereas MSF is borrowed on certain percentage of NDTL well within the SLR requirement.. or you can say that MSF is borrowed to maintain SLR...

 FOR SLR and CRR click here

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DI , PERCENTAGE and ratio...

from last few days i am getting reminder for posting some tricks on DI.... but DI has no trick.. why???? because tricks are used to get an exact answer of the question but in DI section most of the answer are approx...........

and this is the best part to solve DI..... we only have to find approx answer to any question .........    and for that i have ways..........

every DI is followed by set of 5 question... out of which 2 can solved by using ultimate trick..... rest 3 question have approx answer..........

NOTE- use ultimate trick only when addition and subtraction is asked because in these question answer are exact. never use the trick with ratio and percentage as they have approximate answer........

neither i am going to tell you any specific value of certain percentage like 12.5% = 1/8 and so on.... this you already knew nor i am going to tell u something new.......

believe me what i am going to tell , u already knew them but u dont knw how to apply it... thats the only problem......

lets take a number say 49486
Q. what is 50% of this no.? ( divide no. by 2)
Q. what is 25% of this no?  ( divide no. by4 or half of 50%)
Q. what is 10% of this no.? ( put decimal at ONES place)
Q. what is 5% of this no.?   ( half of 10% or put decimal to  
                                             ONES place for the answer of 50%)
Q. what is 1% of this no.?   ( put decimal at TENS place)
Q. what is 2% of this no.?    ( double of 1%)

all of u can tell the answer without using your pen and copy..... u can do this in your mind and can write the answer directly...... ryt na???????

now if we know these value , which we already knew , then any problem of DI be easily solved.......

mainly the question of DI deals with ratio and to some extent percentage..... ratio and percentage are interchangeable......
in DI we mainly get question like 
Q. X is how much % of y. = X/Y
Q. X increases y by how much %.=  X-Y/Y


so lets start with solving fraction as percentage.......

 Q. 660 is what percent of 5100?
   
solution = we know that 10% of 5100 is 510... ryt 
we need it to 660 .... ryt? and so far we have 510 therefore we only need 150 more to get the approx answer..........
 now if you look that 1% of 5100 is 51.... we need 150 more which means we need 1% 3times...
therefore our answer will be little less than 13 ( 10+3%) ....... the answer is 12.9%......

right now you will be feeling that it is much time that's  because you are not accustomed to this method and believe me after practicing 15 - 20 question you will be calculating the answer in your mind............

NOTE-- for solving such question your first step is very important...
               first look at 10% and  50% of the number ... it gives you a 
                rough idea of the answer
               you can make digit of numerator and denominator equal 
               by multiply or dividing by 10..... but always keep it in 
                 mind while giving you final answer....

Q. Dodo has Rs.230 initially but spend Rs.34 on 'mobile recharge'. what % of money is now left with him?

SOL-- 230-34/230
          = 196/230
now 10% of 230 is 23.... very small as compared to 196... leave it..
take 50% which is 115 somewhat closer but still the difference is 80...
now half of 115 (25%)= 57(approx).... and 10% = 23
 now total is 50%+25%+10%= 85 approx .......... 
and 115+57+23 = 195
see u get the answer.....

you may feel problem in calculating the way i am doing ... so now i will tell you how i started doing it.....

 Q. 256/290

below is the way i used to calculate in starting......

Percentage	Amount 256 /290
50%	145
25%	72 (39 more needed for 256)
12.5+1% total= 88.5	36 + 1%= 38.9 255.9

NOTE- after taking 2nd%(25% in this case) locate the remaining difference always........ 

so ur answer will be 88.5 approx......
with practice you can simply write % value and total it to get the answer........

LETS TAKE ONE MORE EXAMPLE...

Q.7526 is what % of 67....

 our fraction is 7526/6700 ( making equal)
now as our numerator is greater therefore ans will be more than 100...... ryt na????
difference between them is nearly 826...

Percentage	Amount 826 for 6700
10%	670
2%	67 *2= 134
(initial)100+10+2=112	804

  so our answer sud be approx. 112.xx..........................

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INTERVIEW PREPARATION 

PERCENTAGE

Australia become the first team to lose by an innings after declaring their first innings closed.......
hahahhahhahahahhahahha
i love it......

OK lets move on to our topic i.e percentage....

today first i will discus one specific type of question based on percentage.....
when there is combination of increase and decrease ( increase+increase , increase+decrease , decrease+decrease)


use positive sign for increase and negative sign for decrease......



lets take an eg. price of petrol increase by 25% but raj wants to spend only 15% more on petrol. so by how much he sud reduced his consumption??????

use the formula =  +25 - X -25X/100 = 15
                           2500 - 1500 = 125X
                                   8% answer...


this method can also be used in population increse , CI when each year have different rate of interest to determine the overall rate...


eg. population of city increases by 10%  in the first year and then decreased by 15 % in the next year. find present population if initial was 10000.

now u can first find the 110% for 1st year then find 85% for next year and give your answer .....
but use the direct formula and solve in no time...........
solution =   10 - 15 - 150/100 
                   -5 - 1.5= -6.5%
this is the overall change in the population over the two year...


QUESTION. price of petrol increase by 25%. by how much % sud use of petrol be decreased to maintain the initial budget....???????????

now as the overall change must be 0 (zero)\

    25 - X -25X/100 = 0
    2500 - 125X = 0
    20 = X
it means use sud decreases by 20%.........

NOW what if there are 3 succesive increases , decrease in the question????????

no problem use the same method twice... two tears at once and then take their answer with last year...

like this.   Q. Population first increased by 10% then decreased by 15% and then increased by 20 over three years. if initial population is 10000 find new population.

10 -15 -150/100 = -6.5 (solved earlier)
  now -6.5 + 20 - 130/100
             20 - 7.8 = 12.2%

NOTE- if there is equal increase and decrease of % then the overall result is ALWAYS negative i.e overall loss happens .... and the answer = square the % and put decimal at two places..

eg.  for 8% increase and decrease the answer will 0.64 (8 square and decimal at 2 places)


some times we come across such question in exam....
Q. a man loses 12.5% of his money and after spending 70% of the remaining , he is left with rs. 210. find his initial money?
 after reading question we know that initial money will be more....
so use the direct formula...





what if in question the initial sud be less???????????? like in this example..........
 Q. dodo deposited Rs. 4800 in locker. in first year he deposited 20% of the amount. in 2nd year he deposited 25% of the increased amount in locker. find the amount in locker at present??????

reading the question tells us that initial money is less... 
so the formula becomes inverse like

NOTE- tomorrow i will take percentage and DI both....

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INTERVIEW ARCHIVE






               

INTERVIEW TIPS

guys i have just cleared my IBPS PO 2 .....

most of the candidates like me have had appeared for the first time and are going to face the interview for the first time????????

FIRST TIME.. huh... great deal .......

hmmm lots of thoughts coming in the mind....

Wats gonna happen, what they will ask, what if am not able to give the correct answer, 
feeling tensed??????????

so just to relax you a bit i am here sharing my experience along with 1000's other candidates experience....... well i know no matter how hard i try to console u .... it will not work.... its natural.....
and that the only key to success BE NATURAL.... DO NOT MANIPULATE YOURSELF it will only bring harm to you............

no matter in which part of the country u r going to give ur interview....  there is nothing to fear .....

NOTE- they are not there to judge your knowledge... they just want to know whether you can speak or not....... r u ill mannered??  can u work under pressure?????
that's it... no more no less..............................

DEAR candidates nearly 70% of your interview gets over by the time you take your seat in front of the panel.......  i am not joking about this....

out of the rest 30% only 10% carries your answer..... rest is the way you answer the question......... so whats there to fear about only 10%??????????

believe me it does not matter whether you know the answer or not..... all that matters is your honesty..... if you do not the answer simply say SORRY SIR i dnt know the answer.............

never ever try to out smart them....................

 LETS START WITH INTERVIEW...
average interview time for po2 was 12 to 15 mins....

out of this first 5 to 7 mins are nothing but just about yourself...
interview for 95% candidates start like this..

whats ur name? tell me abt urself..... 
and blah blah blah blah....

and they come to your last qualification.... some question from there...
now comes the banking part........
on average 5-7 question all related to basic banking...
like types of account, fdi , fii, atm, ... in short very very general questions .....


i have loads to write about the interview ... but excess of every thing at once is not productive....

so m ending this article here.... next i will be writing about DOS AND DONTS... how to face it in betr way...

meanwhile you can surf the following section if you wish...

INTERVIEW PREPARATION 

SYLLOGISM

hello every body, today we will discus the concept of syllogs...
even i am providing some tips on syllogs, i still feels that wein diagram method is the best way to solve them.....

O.K but then why i am wasting every body's precious time??????
that's because as far as we have statement and conclusion in positive sentence we do not feel any problem in solving them..... but when words like NO, SOME NOT, is used in combination with other we get a bit confused...

so in this article i will be discussing only 3 things about syllogs...
1. NO, some not in combination.
2. Either and OR case.
3 Possibility case.

 All you need is this table to solve any question based on syllogs...

COMBINATION OF ALL, SOME,and NO...... 

1. ALL- ALL = answer can be given in  all and some.
eg. all kite is rope
     all rope is fish
conclusion = all kite is fish
                    some fish is kite 

2. ALL- NO = answer will ALWAYS be in NO type..

eg. all kite is rope
     NO rope is fish
Conclusion = all the valid conclusion for this case will be in NEGATIVE ONLY , i.e NO

3. SOME- ALL = answer only in some type.
eg. some kite is rope
     all rope is fish
here answer will be only in SOME TYPE
like = some rope is kite
          some fish is kite
          some kite is fish etc....

4. SOME- NO  = answer ONLY IN SOME NOT...
eg. SOME kite is rope
     NO rope is fish
the valid conclusion are only in SOME NOT only from one side...
like = SOME kite is NOT fish
           SOME fish is NOT ROPE 
NOTE = here we can't say that SOME fish is NOT kite

 5. NO - ALL = answer in some not from both side...
eg. NO kite is rope
     ALL rope is fish
the valid answer is in SOME NOT from both side.
like=  SOME kite is NOT rope
          SOME fish is NOT kite...


 NOTE =  look here conversion is being done from both sides.....


6. NO- SOME = answer only in SOME NOT from both side
just like above....

NOTE = major confusion happens when we have mixture of positive and negative sentence in the statement..  therefore CASE number 2, 4,5 and 6 are important............

EITHER and OR

THE most important thing about solving this is that u have to always look in to the CONCLUSION to find out the either-or case................
in every syllogs question we see one option as either this ( option A) or that( option B)

 EITHER and OR case takes place between these three complimentary pairs only provided that they share same element between them............ only when there is no relation is there for complimentary pairs
between ALL and SOME NOT
between SOME and SOME NOT
between SOME and NO.....

NOTE = no other case can have this option as correct......... 

lets solve examples... for same statement i am asking 3 question
1 if conclusion A is correct
2 if conclusion B is correct
3 if either conclusion A or B is correct
4 if neither conclusion A or B is correct
5 if both conclusion A or B is correct

 statement =  some noses are stomach
                     some fingers are chair
                     all fingers are eyes
                     no eyes are horse

Q1. conclusions. A.some eyes are chair    B. some fingers are nose

 Q 2.  A. some stomach are eyes    B. some eyes are not stomach

 Q3.   A. some chairs are finger       B. some noses are not eyes


ANS= questn 1 = option 1
         question 2 = option 2 (same elements with some - some not)
              question 3. = option 1 ( they have some - some not in them but the elements 
                                                                        are  different...      chair - fingers and noses- eyes)

LAST POSSIBILITY CASE....

just one simple line DRAW the normal wein diagram and all those relation which are not present in the diagram are the possibilties........

hope now doubts IF ANY are clear........

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 FOR INTERVIEW PREPARATION

RATIO

Gone are the days when the “slow and the stea­dy” used to win the race, now it’s just the “fast and the furious” who snatches the cream and especially in the case of BANK, you aren’t supposed be just ‘fast and furious’ but more importantly accurate!

SO here i am back with another trick on ratio ...
after reading this post you can solve problems without using you pen or pencil....

so lets start with an example........

question . the present ratio between preeti and asha age is 9:13 respectively. 8 years ago the ratio was 7:11 respectively. 

1.what is preeti present age?
2. preeti age 8 years ago?
3. difference in their ages?
4. asha present age?
5. asha age 8 years ago?

every bank aspirant can solve this question but how many can solve it in 10 seconds?
you can after reading and applying this trick..

lets get to question..
after writing the ratio in this form look for first vertical and then horizontal difference

                                     initial ratio =  9:13
                                      final ratio  =  7:11  ( 8years ago)

if the vertical difference between two ratio are equal , we will take the difference of vertical ratio.
difference of vertical ratio = 2
now this change of 2 comes because of 8 yrs (given in question)

                therefore 2( ratio) = 8
                            so 1 (ratio) = 4

NOW LETS GIVE THE ANSWERS..
1.what is preeti present age?
                       present age ratio of preeti = 9 (given in question) 
                      so 9 X 4 = 36 years

2. preeti age 8 years ago? 
preeti age ratio after 8 years is 7 so 7 X 4 = 28 years

3. difference in their ages? 
difference in ratio of ages is 4 so 4 X 4 = 16 years..

REST TRY YOURSELF.....

 now second case when vertical difference is not same...

eg. the ratio between preeti and asha age is 9:13 respectively. after 10 years the ratio becomes 8:11 respectively.

now      initial ratio  =  9:13
              final ratio  =  8:11
 clearly the difference between vertical ratio is not common ( 9-8=1 but 13-11=2)

therefore first we have make them equal...
to do so take the difference between horizontal initial ratio i.e 4 and multiply it to final ratio...
similarly take the difference from final ratio i.e 3 and multiply it to the initial ratio...
now the new ratio becomes      
                                               initial ratio = 27 : 39
                                               final ratio   = 32 : 44
NOTE-  ONCE you have made this new ratio forget every thing about the previous one... now you have to deal with this new ratio to solve your question.....

now you solve it just like above........

NOTE- for clearing the quant section your grip on ratio, percentage and the ultimate trick should be very good.......

ALL MATHS TRICK CLICK HERE

INTERVIEW PREPARATION CLICK HERE











 

THE ULTIMATE TRICK PART 2

Do not read this article unless you have read the previous article on the ultimate trick

in this article i will be explaining how to use the trick...
all of us know that in bank exam we will not be given question where simple addition, subtraction is required but a combination of both can be there...

so without wasting any time lets start with an example....

THE example i am taking here are the previous year question from different exams...

1. solve 5124 - 829 + 731 - 435 = ?  ( 4591)

solution by trick = 3 - 1 + 2 - 3 
                          = 5 - 4 = 1 ( ans 4+5+9+1 = 1)



2. solve 10789 +3946 - 2310 -1223 = ? ( 11202)

    solution = 7 + 4 - 6 - 8= -3 (minus3)

now here is a catch in the trick...
whenever your answer in the trick comes negative and the option are positive then subtract only the number from 9...
so for above question 9 - 3 = 6 final answer...... ( 1+1+2+0+2 = 6)



3. 3876 X 285 -17620 = ? + 5487 ( no doubt without trick more then 1 min require to solve this question)
 option are A. 1171355   B. 1081553
lets solve it by trick...

but in hindi there is a saying NAKAL KE LYE BHI AKAL KI JARURAT HOTI HAI...

u need presence of mind for cheating therefore from the next time when you use this trick try to find the last digit of the answer 
rewriting the question with a change   3876 X 285 -17620 - 5487 = ?

As in this question when we multiply 6 X5 we get last digit as 0 (ZERO) and when we further subtract (17620) we again get 0( zero).  and then in the last subtraction ( 5487) we get last digit as 3

now apply the trick and get sure shot answer...
6 X 6 - 7 - 6 = -13 = -4 ( MINUS 4 = 5) remember something?
now look at the options both have sum digit of 5 but option B ends with 3 having sum digit 5 therefore it is the correct answer.....



4. -56 X 29 + 435 = ?
options are A. -706440    B. -1189    C. -1860   

apply the trick ..
      -2 X 2 + 3 = -1 (minus1)  therefore the answer option B (-1189)

now as you can see in this question i have not  subtracted the negative value from 9.... why?
because the option given are already in negative value... if they were in positive then only you have to subtract from 9 as in the earlier case.......




5. (24.2)sqr + ( 46.8) sqr - ( 37.2) sqr = ? + 1542.72    
option are 
 A. 150.68 
 B. 160.28 
 C. 155.42
D. NONE OF THESE

honestly tell me how many candidates are going to attempt this question provided that you do not know this trick??
a look on question tell us how much time its gonna take to solve...
but with this trick... lets see.....

(8 X 8) + (9X9) - (3X3)  = ? + 3  
64 + 0 - 0 =? + 3
1- 3 = ? ( minus2) remember something ....
answer will be none of these ( option are positive so you have to subtract from 9)


NOTE- apart from this the trick can be used in DI section to a great extent.... you have to practice this trick a lot

good luck ....

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