How to do Bulk NEFT

Bulk NEFT is useful for credit the salary, Scholarship, different type of Govt. fund from one bank to other bank.

Step for Bulk NEFT

1. First prepare the .txt file as –

SR NO|DEBIT ACCOUNT|AMOUNT|IFSC|CREDIT ACCOUNT|ACCOUNT HOLDER NAME|SB

EX.-

0001|12340100005678|1000|SBIN0012345|9876543219876|ABC DEFGH|SB

0002|

0003|

..

..

..

( If you face difficulty for preparing the .txt file then write in comments Box. I will provide you the convertor from excel to text)

 

2. Save as the .txt file as debit account_yyyymmdd_01

If debit account number is 12340100005678 & date is 26-07-2020 then file name is as below

 12340100005678_20202607_01

3. for uploading in Finacle use menu – BULKNEFT

In Option 1 – upload

In Option 2 – browse (where the .txt file is locate)

In option 3 – write the debit account number.

And submit.

It is time bound menu and it will allow to upload up to 3:00 pm only and verification must be done up to 4:00pm only.

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Union Budget

RENVENUE RECEIPTS

The term “Revenue Receipt” is made up of two words revenue and receipts.

Those receipts which neither create any liability nor cause any reduction in the assets of the government. In other word, any income that does not generate a liability is revenue.

For example: if the Government borrows money from World Bank, it will increase its liabilities (because this money has to be paid back) - so cannot be called revenue. However, if the government gets the same money from grant (donation), its revenue receipt because grants are not to be paid back.

Taxes are the most important revenues receipts of the governments. However, some revenue receipts are non-tax revenues such as grants. On this basis, revenue receipts are of two types –

1. Tax Revenue

2. Non-tax revenue.

Tax Revenues

Ø  Tax revenues are either from direct taxes or indirect taxes.

Ø  Direct tax generally means a tax paid directly to the government by the persons on whom it is imposed.

Ø  Income Tax, Gift Tax, Wealth Tax and Property tax etc. are direct taxes.

Ø  Indirect tax is a tax collected by an intermediary (such as a retail store) from the person who bears the ultimate economic burden of the tax (such as the consumer).

Ø  Sales tax, Value Added Tax (VAT), Goods and Services tax (GST) or any other such tax is an indirect tax.

Ø  Largest chunk of tax revenues of government of India currently comes from Corporation Tax, followed by Income Tax, followed by Union Excise duties, customs and thereafter service tax.  

Non-Tax Revenue

Ø  Non Tax Revenue Receipts are those revenue receipts which are not generated by taxing the public.

Ø  Money which the Government earns as  “Dividends and profits” from its profit making public enterprises (PSUs).

Ø  Interest which the Government earns on the money lent by it to external or internal borrowers , Thus this revenue receipts may be in foreign currency as well as Indian Rupees.

Ø  The money which the government receives out of its fiscal services such as stamp printing, currency printing, medal printing etc .

Ø  Money which the Government earns from its “General Services” such as power distribution, irrigation, banking services, insurance, and community services etc. which make the part of the Government business.

Ø  Money which the government accrues as fees, fines, penalties etc .

Ø  Grants the Government of India receives from the external sources. 

REVENUE RECIEPTS
Tax Revenue	Non Tax Revenue
Gross Tax Revenue	1. Interest Receipt
1. Corporation Tax	2. Dividend & Profits
2. Income Tax	3. External Grants
3. Other Taxes & Duties	4. Other Non Tax Revenue
4. Customs	5. Receipts of Union Territories.
5. Union Excise Duties
6. Service tax
7. Tax of the Union Territories

Net Tax Revenue: Gross tax Revenue – NCCD transferred to the National Calamity Contingency Fund – State’s Share

Total Revenue Receipts: Net Tax Revenue + Total Non Tax Revenue

Capital Receipts

Capital receipts are receipts that create liabilities or reduce financial assets. They also refer to incoming cash flows.

Loans from the general public, foreign governments and the Reserve Bank of India (RBI) form a crucial part of capital receipts.

All capital receipts are tax-free, unless there is a proviso to tax it. Capital receipts can be both non-debt and debt receipts.

Non-debt capital receipts

Ø  Non-debt receipts are those which do not incur any future repayment burden for the government. Almost 75 per cent of the total budget receipts are non-debt receipts.

Ø  Recovery of loans and advances, disinvestment, issue of bonus shares, etc

Debt capital receipts

Ø  Debt Receipts have to be repaid by the government. Around 25 per cent of government expenditure is financed through borrowing. A reduction in debt receipt (or borrowing) can be a big leap for the economy's financial health. Most of the capital receipts of the government are debt receipts

Ø  Market loans, issuance of special securities to public-sector banks, issue of securities, short-term borrowings, treasury bills, securities against small savings, state provident funds, relief bonds, saving bonds, gold bonds, external debt, etc, are all example of debt capital receipts.

EXPENDITURE

Ø  Expenditure refers to payments made or liabilities incurred in exchange for goods or services.

Ø  There are two component of Expenditure – Non Plan Expenditure and Plan Expenditure.

Ø  Non-plan expenditure is what the government spends on the so-called non-productive areas, such as salaries, subsidies, loans and interest, while plan expenditure pertains to the money to be set aside for productive purposes, like various projects of ministries.

EXPENDITURE
NON PLAN EXPENDITURE		PLAN EXPENDITURE
REVENUE	CAPITAL	REVENUE	CAPITAL
1. Interest payment and prepayment of premium	1. Defense	1. Central Plan	1. Central Plan
2. Defense	2. Other non plan capital outlay	2. Central assistance for state and union territory plan	2. Central assistance for state and union territory plan
3. Subsidies	3. Loan to Public Enterprises
4. Grant to State and U.T. Governments	4. loan to State & U.T. Govt.
5. Pension	5. loan to foreign Govt.
6. Police	6. Others
7. Assistance to State from NCCF
8. Economic Services
9. Other Gen Services
10. Social Services
11. postal Deficit
12. Expenditure of U.T
13. Amount met from NCCF
14. Grant of Foreign Govt.

DEFICIT

A budget deficit occurs when expenses exceed revenue.

Revenue Deficit: Excess of Revenue Expenditure over Revenue Receipts.

Gross Fiscal Deficit: Excess of Total Expenditure including loans, net of recoveries over revenue receipts (including external grants) and non-debt receipts

Net fiscal deficit: Difference between Gross Fiscal Deficit and Net Lending.

Gross primary deficit: Difference between the Gross Fiscal Deficit and interest payments.

Net primary deficit: Net fiscal deficit - Net interest payments

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GDP Concept

GDP (Gross Domestic Product)

Ø  Total market value of all the final goods and services produced in a specific time period, often annually

GNI (Gross National Income) –

GDP at market price

+

Tax less subsidies on product & import (Net receivable from abroad)

+

Compensation of employees (Net receivable from abroad)

+

Property income (Net receivable from abroad)

GNP (Gross National Product) –

GDP

+

Total Capital gain from overseas investment

-

Income gain by foreign nationals domestically

GNP = GDP + NP (Net income from assets abroad (Net Income Receipts))

# According to National Income Accounting, there are three ways to compute GDP

1.       Expenditure wise

2.       Income wise

3.       Product wise

1. Expenditure Wise -

GDP = 

Consumption

(Food, household, medical expenses, rent etc.)

 + 

Gross Investment

 +

 Govt. Spending 

(Sum of Govt. expenditure on final goods & services)

+

 (Export – Import)

i.e GDP = C + I + G + (X-M)

2. Income Approach –

GDP =

Compensation of employee

(Wages, salary & other employ supplement)

+

Property income

(Corporate profit, Proprietor’s incomes, interest and rents)

+

Production taxes and depreciation on capital

GDP at market price

Ø  Value of output at market prices after adjusting for the effect of indirect taxes and subsidies on the price.

Market price

Ø  The economic price for which a good or service is offered in the market place.

GDP at factor cost

Ø  The value of output in terms of the prices of factors used in its production.

GDP at factor cost = GDP at market prices – (indirect tax – subsidies)

3. Product Approach 

# Real GDP or GDP at constant price – 

Ø  Value of today’s output at yesterday price 

# Nominal GDP or GDP at current price –

Ø  Value of today’s output at today’s price

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THE IMPORTANT POINTS TO BE KEPT IN MIND TO FACE THE INTERVIEW

THE FOLLOWING ARE THE IMPORTANT POINTS TO BE KEPT IN MIND TO FACE THE INTERVIEW AND TO BECOME SUCCESSFUL IN THE INTERVIEW.

Before attending interview, go through the systems and procedures of your department. Please gather information on your Zone/Region such as, who is the Zonal/Regional Head, Zonal/Regional Business, Targets and recent achievements. Your Branch figures in terms of Deposit, Advances, NPA and recovery. Special initiatives of your Region and branch to achieve targets or to improve the image of the Bank/Branch. Your active involvement in such activities of the Bank/Region.

• Ensure to be at the venue at least 30 mins before the intimated time as per your call letter issued by RO.
• Have pleasant clothes as your dress code. Try to avoid very dark colored dresses.
• Clothing should be neat, clean, and pressed
• Remember to wear your identity card on you.
• You may enter the room where the interview is conducted only when you are called, Say Good Morning, looking at the Panel Head and other members.
• When offered seat by the panellists, remember to say THANKS.
• Sit Straight and relaxed. Please avoid sitting at the edge of the seat. Do not lean too much forward or backward.
• Please remember that your Bio-Data (wherein all the personal details of you) is with the Panelists and they may start questions from your personal details.
• When asked a question , answer him/them by looking straight at them.
• Avoid looking up/down or on sides while answering the question.
• Be firm but polite. Try not to provoke or get provoked during the interview.
• Please go through the day’s News paper and note down the important events that is available in the news paper of the day. Especially on RBI, IBA, Banks, Economic views. No politics inside the interview hall even if your are asked. Please gently avoid questions on politics. (normally no question on politics)
• There may be questions on the place from where you hail. (Eg. Quilon – Known for
cashew, Trichur – Cultural city, Trivandrum – State capital etc.,)
• Panelists may ask about a particular incident that happened in your branch if they know.
Please try to place only the facts known to you.
• Normally the questions will start from your personal matters and thereafter from the
section you handle. Try to understand the section you are handling and the importance
of your section.
• If for any question you do not know answer, please inform the panelists, that you do not
know and you shall learn. Please do not try to give a wrong answer. This will be taken
as a negative attitude.
• Be positive while you are attending the queries from the panellists.
• All the panelists are seniors and superiors to you. Hence extend the necessary respect to
them even if they are known to you as Branch in charge or otherwise.
• Your knowledge is already tested and you have come out successful and this interview
is only a test of your attitude. Hence express your positive approach to the panelists.
• No arguments with panelists even if they are wrong. Gently and politely tell your views.
• Whenever you are offered Coffee/Sweets/Snacks say thanks and if you do not require
gently tell them that you do not want.
• Be bold to face the interview, and do not be nervous and be firm in your answer if you
know the answer fully.
• Once you start answering question, they may switch on to the next question.
• Face to face contact is most important while answering any question.
• The interview will be for a few minutes and normally do not be a lengthy one as they
need to interview more candidates.
• Please avoid speculating amongst the candidates while sitting prior to the interview. You
can talk to each other but avoid noises which may affect the panelists inside the interview
hall.
• Please note not to hurt the panelists in any form. Be polite and gentle while answering.
• After the interview is over, remember to say thanks to them while coming back out of
the interview hall,

Interview is after all a test of your attitude in few minutes/hours and your positive approach
during that time will ensure good marks from the panelists. Interview is an experience, enjoy
it and do not be nervous to face the same. The panelists were like you earlier as officers etc
who have become seniors and superiors. Hence they also know your strong/weak points. Try
to exhibit only strong points before the interview by your POSITIVE ATTITUDE.

We wishes you success in the interview process and we wish you become an Officer of our
Bank.

With best of luck.

#copied from social media

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Promotion Exercise JMG S I to II (08.02.2020)

Question and Answer Based on Memory

1. Which is not one of the panchasutrast in SHG -Regular Audit

2. Full form of HFT- held for trading

3. TAT for gold loan in gold loan shopee - 15 minute

4. Full form of ECNOS- Export Credit not other Specified

5. Gold loan is- Demand Loan

6. Minimum Bal for RD in rural areas - Rs 50/-

7. Frequency Compounding of interest in RD - Quarterly

8. Full form of IMPS - Immediate payment service

9. Who issue Demand notice under SARFAESI - Authorized Officer

10. LTV of 36 LAKHS – Rs. 28.80 Lacs (Margin is 20%)

11. QAB Start up c/a - Rs 75000/-

12. QAB OF Scale up c/a - Rs 2,50,000/-

13. Full form of SARFAESI- Securitization and Reconstruction of Financial Asset And Enforcement of Security Interest

14. Full Form of CPPC and where it is located - Central pension processing centre at GANDHI NAGAR

15. Full form of NPCI- National payments Corporation of India

16. VISA platinum Daily Cash withdrawal Limit -1 Lac

17. IMPS Revised Limit Per day - 2 Lacs

18. Other Bank Credit card payments done through which menu in Finacle 10 -  HPORDM

19. Which menu is used for NEFT/RTGS transactions in Finacle 10 - HPORDM

20. In Planters Card Scheme, the annual limit should be reviewed by - 31st July

21. Savings Account ROI will credit in - BKC OD Facility

22. Maximum Loan in BKC Tatkal Scheme is - 3 Lacs

23. Maximum Accidental Insurance cover in BKCC is – Rs. 50,000/-

24. Margin in Financing of Tractor in new scheme for Agriculture cum commercial end use is -20%

25. Maximum Loan limit in Golden Jubilee Rural Housing Finance Scheme is - 100 Lacs

26. Collateral Free Loan limit in Baroda Education Loan for Executive Development program is - 15 Lacs

27. What is the margin for Loan against NSC/LIC if the residual maturity is less than 3 yrs - 15% of face value

28. What is the minimum Cut off to give Loan against LIC - 3 Yrs

29. Charge against LIC - Assignment

30. DLP of Scale III Manager in Baroda Mortgage Loan is - 25 Lacs

31. What is payment in Due course - Payment in good faith and without negligence to any person

32. ROC satisfaction of Charge - CHG 4

33. Limit for Pre approved Housing Loan without Income Doc's - Rs 20 Lacs

34. Which variant for Baroda Gift Card - VISA

35. What is the relation b/w Bank and the customer if the customer left articles unknowingly - Trustee and Beneficiary

36. Whose right is Right to set off - Banker’s Right

37. What is General Lien? -On all securities Generally(Not remembered exactly)

38. Ware House Receipts Margin - 30%

39. What % will deduct for premature withdrawal -1%

40. First Sweep Occurs When the Balance reaches to ----- in Super Savings A/C- Rs 50,000/-

41. QAB for super Savings Account - Rs 20,000/-

42. Minimum Flexi fixed Deposit Amount in BOB Suvidha is -

43. Non Maintenance of QAB in Small Current A/c – Rs 300 + GST

44. Minimum Bal to open Baroda Advantage CA in Rural Areas -  Rs 2000/-

45. Total Number of A/c's linked to Debit card - 9

46. Demat Account Software - DEBOS

47. Full form of NCLT - National Company Law Tribunal

48. Bank Of Baroda founded with Paid up capital  -  10 Lacs

49. For change of Interest in OD/CC Accounts - HINTTM

50. What we can modify in finacle for APY - Mobile no and E mail

51. Interest Subsidy in Moratorium Period for Padho Pardesh Scheme - 100%

52. Name of Govt a/c SB-129 - Baroda Govt Bodies Account

53. Intangible Asset - GOOD WILL

54. Received  Commission from Govt a/c is - Non Fee based Income

55. Lakshya Scheme is for - One Time Settlement

56. Handing over of Mortgage Related Doc's to customer in - 15 working days

57. Baroda E kart can be canvassed to - Kirana Shops

58. What is the Insurance covered in Sehat Suraksha Accounts during Campaign is - Rs 1 Lac

59. Corporate Advertising means -

60. Last stage in selling is - Closing

61. Minimum period of Notice by bank for auction of property after taking possession under SARFAESI Act is - 30 Days

62. In compromise Settle account When the valuation is required - 5 Cr and above

63. The borrower who has disposed off the assets created out of bank's loan without the knowledge of the bank is called -  Wilful Defaulter

64. Tie up for Drip/ Sprinkler Irrigation is - Finolex Plassion Industries Pvt ltd

65. The Public Money Recovery of Dues Act is being recovered as an arrear of - Land Revenue

66. Full form of MDRT - Million Dollar Round Table.

67. Appraisal System - Baroda GEMS

68. To get benifit under Section 80c,What is the maximum period under ELSS - 3 YRS

69. Maximum Loan under LIC - Unlimited (NO Limit)

70. Maximum Loan of the regular pensioner, if age is 68 yrs -Rs 8 Lacs

71. What % of tax for senior citizens if there is no pan in his account - 20%

72. Hypothecation charge on vehicle is registered in which portal - VAHAN

73. Full form of MMID - Mobile money identifier

74. Not in Negative list of PMEGP activities - Making JUTE bags

75. Option not available in M-Connect plus is - Blocking Credit Card

76. Baroda Prime credit card is for - Against 100% FDR

77. Nodal Agency at national level of PMEGP is – KVIC (khadi and villag Industries Commission)

78. Subsidy of Promoter's contribution in General Category of PMEGP is - 10%

79. CRILIC is for - 5 CR

80. Limit for Retail Customers to self Linked ccounts in Baroda Connect is - Unlimited

81. Who can issue Recovery Certificate for Recovering Bank Dues - High court (NOT SURE)

82. To whom bank has to submit compromise proposal in cases where CBI investigation - COCC ED

83. Relation b/w price and yield - INVERSE

84. Banner AD'S are which type of marketing - Product Marketing(May be Outdoor Marketing)

85. Agriculture sector advances will become NPA if not review for how many days -  180 Days

86. Stock Audit for NPA/TWO/PWO Accounts done for limit - 5 CR

87. Priority Sector lending norms for Export credit is - 40 cr

88. The liability which can be crystallized at any time but not on the date of bal sheet is - Contingent Liability

89.A & B are Holders of FD, the holder A died and Holder B died in a week - Legal Heirs of A & B (NOT SURE)

90. Launch Saving a/c linked with Health Insurance – Baroda Sehat Suraksha

91. What is the menu for inquiry about different charges debited to customers during the given period in Finacle 10 - HCCI

92. Same as Q.NO.91

93. What is not the current Liability - Shares/ Debentures held more than a year

94. Valuation at the time of Compromise is - Realizable value

95. Valuation takes after - 3 Yrs

96. Which is not one of the fixed asset - Patent

97. The LC raised and the same amount limit of Lc (Something) - Revolving LC

98. Applicant in case of LC is - Importer/buyer

99. Business Commencement date to be entered in - MCEC

100. Under which Section Right to representation in SARFAESI - Section 13(3A)

101. Weightage for ULIPS & GCL Regular - 25%

102. Date of Birth updated through - DOBVER

103. To attain Senior citizen ROI, where to update - It will update automatically

104. IRDA IC 38 Qualified called - Specified Person

105. If the loan account is due the status on which day due is called - Overdue

106. Baroda Pensioner OD Limit - 2 Months Pension

107. Appraiser Age can relax by RM up to - 70 yrs

108. Baroda Tax Savings FDR cannot open by - Company

109. Question on Banner AD

110. Vetting of Loan Documents - 10 Lacs

111. Toll collection - Baroda Fastag

112. Bulk Deposit - 2 CR

113. BOB Suvidha ffd -MIn 5k in multiples of 1000/-

Continue…

(Disclaimer – All the questions are based on memory as received by sources, if any answer is not correct and need any modification then suggest me in comment box.)

Your welcome

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