IBPS2020

SBI Associates clerical results are out and interviews are scheduled to start from 11-May 2015. Click here to see the results of written test for SBI Associate Clerical

State Bank of India has declared final result for the recruitment of Probationary Officers in Associate Banks for which written test was conducted in November 2014.  Click Here to View Final Result

PM: The biggest capital of the poor is their integrity. PM: Combination of integrity with MUDRA – capital – will be the key to success for small entrepreneurs. Prime Minister, Shri Narendra Modi, today said that supporting the small entrepreneurs of India is the biggest way to help the Indian economy grow and prosper. He was speaking at the launch of the Pradhan Mantri MUDRA (Micro Units Development and Refinance Agency) Yojana in New Delhi. Stressing the contribution of small entrepreneurs in the economy, the Prime Minister expressed confidence that within a year’s time, the major banks would also adopt the MUDRA model. The Prime Minister said that in our country, one often experiences that things revolve around mere perceptions, while the details often paint a different picture. Giving the example of the perception that large industries create more employment, he said that a look at the details reveals the reality that only 1 crore 25 lakh people find em

State Bank of India has released notification for the post of specialist officer for the year2015

1. RBI keeps Key Rates unchanged i.  The Reserve Bank of India (RBI) kept the repo rate unchanged at 7.5% in its monetary policy review. Along market expectations, Raghuram Rajan also kept the Cash Reserve Ratio (CRR) at 4%.  ii.  Rajan kept policy rate unchanged awaiting clarity on impact of unseasonal rains on food inflation even as he wanted banks to pass on benefits of previous two rate cuts. iii.  The RBI will await the transmission by banks of its front-loaded rate reductions in January and February into their lending rates. Transmission of policy rates to lending rates has not taken place so far despite weak credit off take and the front loading of two rate cuts, said RBI.  2. Dena Bank inked MoU with Life Insurance Corporation i.  Dena Bank on 6 April 2015 signed a Memorandum of Understanding (MoU) with Life Insurance Corporation (LIC) of India to provide insurance cover to all Aadhaar-linked savings account holders of the bank in the age group of 18 to 50 year

Shell companies are the companies located abroad but controlled from India, to evade taxes. Government aims to curb them by introducing “Place of effective management” (POEM) in IT Act. Thereby, such offshore companies will be taxable in India, if key Management decisions are taken from India. Shell companies based abroad would have to pay taxes on their global income for a year if their  place of effective management (POEM)  is India. According to the Union Budget 2015-16, shell companies would be considered tax resident of India if their POEM is India, even for one day in a financial year. The key companies likely to be impacted are the Indian groups that have overseas subsidiaries that lack substance. Many Indian companies have subsidiaries in tax havens abroad which, in turn, do businesses in other countries. With this amendment — proposed to be made effective from the next financial year — all these companies will be bought under the Local tax jurisdiction. The requir