Electronic signature Presentation for Procurement Secure

Any industry involving a large amount of paperwork make use electronic signatures. In other words, all industries make use of electronic signatures because all of them have piles of paperwork to handle. Some examples of such industries include financial, life science, healthcare and pharmaceutical industries.Industries such as the pharmaceutical industry, have a number of licenses and other paperwork that they have to handle and keep track of. It can be a tedious task to perform such cumbersome paper processes. Therefore, e-signatures can facilitate an organisation in keeping a track of all this paperwork, by signing electronically.Healthcare industries usually involve time-sensitive documents, which need to be urgently completed. But, it can take days in case of the traditional wet ink paper signatures for the documents to signNow the signer and back, if the parties are geographically scattered. But with electronic signatures, that is not the case. Geographical barriers do not play a role. Documents which earlier needed days to be completed, can now be signed and sent back within minutes, in the click of a button. Furthermore, it takes a long time to bring assets under management. The time taken by the signing process, if wet ink paper signatures are used, may even further delay the process. But by using electronic signatures, the whole process can speed up.Apart from these, there are many paper prone industries which require huge amount of paperwork and with the use of electronic signatures they can make their everyday processes smoother and more efficient.

I will give a step-wise explanation on why IAF still uses Jaguar and Mig-21 till date even though they were retired long ago by some of the operators around the world.Mig-21 : It was in early 1980s , when Indian Air Force realised that it needed to replace its Mig-21 since they will be signNowing the end of their service life by 1990s which will be a critical fall for Indian Air Force in terms of numbers. Hence the Tejas programme was started which had its own share of problems and was dragged on for many years. Hence what IAF needed was an interim solution. The solution came when it was decided that IAF Mig-21 will be upgraded and its Total Technical Life (TTL) will be extended. The upgrade involved better avionics , armaments , EW suite and more. This helped the Mig-21 to stay for much longer in Indian Air Force. The sole reason why Mig-21 has persisted in IAF till date was due to the fact that Tejas programme faced initial hiccups and thus failed in its objective to replace the older Mig-21 in IAF service.Recently IAF has retired its Mig-21 Type 96 Aircrafts as Tejas programme has started to bore results with Tejas now being actively inducted in Flying Daggers Squadron of IAF. At present IAF uses only Mig-21 Bison/bis aircrafts which will be retired from service by next decade.SEPECAT Jaguar : Jaguars in IAF service are termed as “Deep Penetration Strike Aircraft” ( DPSA ) meant as a Fighter-Bomber to strike deep in the enemy territory. Indian Air Force has serially upgraded its Jaguars with DARIN programmes the latest being DARIN III which adds an AESA radar to the Jaguar. Future replacement for Jaguar can be AMCA which is an Indian 5th Generation Fighter Aircraft currently under development. The extended life which has been breathed in Indian Jaguars through MLUs can well keep Indian Jaguars in air up till next decade.India has been notoriously known for running the aircrafts in its inventory for a much longer time than warranted by its TTL through MLUs like in case of Mig-21 and Jaguars and even Mig-27 and others. Retiring almost 200+ Mig-21 will bring in a critical void which IAF doesn’t want due to its falling numbers. Also Jaguar is India’s lone DPSA so as long as upgrades are available and quick replacements are unavailable it is better to keep them running as these aircrafts serve quite well in their roles.Many nations still use Mig-21 like Romania with some of the famous Mig-21 knockoffs like F-7 used many nations around the world like Bangladesh , Pakistan and Egypt.

Very much true.The US military has massive power projection, more than any country in the history of man. The US has 11 (CATOBAR/STOBAR) Aircraft Carriers, while the next country has 1 which is, China, Russia, India, UK, and France. Also, the US Carriers are not just regular carriers, they are known as Super Carriers. Which is a term coined by the public to say that these carriers are so large that they exceed the definition of an Aircraft Carrier. Also, the US carriers were designed in the 70’s and countries are now just starting to make designs that could compete with the American Carriers. However, the US just redesigned the carrier and is coming out with the new Gerald R. Ford Class Carrier, which is supposed to be years possibly decades ahead of any other countries design. If you include Helicopter Carriers, and Amphibious Assault ships, that number jumps up to 20, soon to be 22. Then the next highest is tied between Japan and France with 4. My favorite part about the US having so many Aicraft Carriers is that if we divided them up between the major oceans, we could have 4 in each ocean… Crazy. The US carriers are also nuclear powered, they are the only carriers to be nuclear powered besides the French R91 Charles de Gaulle.Note the types of planes on the US Carriers. If you look at the USS Gerald R. Ford, it is fielding 5 different aircraft. 4 planes and 1 helicopter. We will look at the planes. Woden note, the USN has the 2nd largest Air Force in the world, right behind the USAF.First plane- McDonnell Douglas F/A-18 Hornet/Super Hornet: The plane is one of the most decorated planes, with thousands of successful missions, while requiring 3x less maintenance and failures than its counterparts. The plane has electronic warfare capabilities, air to air, and air to ground capabilities. Also, has spy and early warning capabilities. It was one of the first aircraft to heavily use multifunction displays, which at the switch of a button allow a pilot to perform either fighter or attack roles or both. The airframe is complex yet so simple, that a 4 man team can remove and install a new F404 engine in 40 minutes. Was also one of the very first 4th generation fighter on an aircraft carrier.Second plane- Northrop Grumman X-47B: This guy will be the very first and only Carrier based Drone. Northrop Grumman intends to develop the prototype X-47B into a battlefield-ready aircraft, the Unmanned Carrier-Launched Airborne Surveillance and Strike (UCLASS) system, which will enter service in the 2020s. So it’ll have strike options and surveillance capabilities.Third plane- Northrop Grumman E-2 Hawkeye: Many countries have AWAC systems or Airborne early warning and control. But only the United States have a Carrier based AWAC system. With the creation of this system, carriers that are hundreds of miles away from the nearest AWAC system, this plane gives the ability for a carrier strike group to potentially detect fifth-generation fighters like the Russian Sukhoi Su-57 and the Chinese Chengdu J-20 and Shenyang J-31 farther out. Also, gives the ability to guide fleet weapons, such as AIM-120 AMRAAM and SM-6 missiles, onto targets beyond a launch platform's detection range or capabilities.Fourth plane- Lockheed Martin F-35C Lightning II: This plane is the first and only carrier based 5th Generation Stealth fighter. The plane is meant as an air superiority fighter and a plane capable of ground support. It also has a very low, almost undetectable, cross section and radar signature. Besides radar stealth measures, the F-35 incorporates infrared signature and visual signature reduction measures. With the addition of a 5th generation stealth fighter, this gives the US military and Navy, the opportunity to do more damage and to have true air superiority over all other aircraft carrier based planes and land based planes. The US, in the event of a war, can now bring 5th gen fighters to the battle without the need of the Air Force against other 4th gen fighters, or possibly the few Chinese or Russian 5th gen fighters.Furthermore, the US have some of the best destroyers on the planet. With the highly acclaimed Arleigh-Burke Class Destroyer, and the brand new, low production Zumwalt Class Destroyer. The US has the most destroyers in the world with about double the next country, with another 4 undergoing sea trials and we are currently building 5 more and have awarded contracts for 5 more. By 2024 the US is expected to have 79 destroyers in service.Zumwalt Destroyer- The Zumwalt class warships are the largest destroyer ever built. The USS Zumwalt has unusual hull design optimized for wave piercing. There is a composite deckhouse. Angular shape minimizes its radar signature. The ship has hidden radar and sensors. The despite its size the USS Zumwalt has a radar signature of a fishing boat. Also it has reduced sound and infrared signature what makes this ship harder to detect. The ship is the First american surface warship to integrate electronic propulsion, it generates enough power to light up a small city. Sound levels of the Zumwalt are comparable with Los Angeles class submarines.Arleigh-Burke Destroyer- These guided missile destroyers entered service with the US Navy in 1991 were the first large US Navy vessel designed to incorporate stealth shaping techniques to reduce radar cross-section. Also these are one of the biggest destroyers in the world that incorporate highly advanced weaponry and systems. Hull profile of the Arleight Burke class signNowly improves seakeeping, permitting high speeds to be maintained in difficult sea states. The AN/SPY-1D phased array radar incorporates signNow advances in the detection capabilities of the AEGIS weapons system, particularly in its resistance to enemy electronic countermeasures. Missile are stored in vertical launch systems, that can also house smaller Evolved Sea Sparrow (ESSM) missiles, Tomahawk land attack cruise missiles, ASROC anti-submarine missiles. For point defense the ships are equipped with two Phalanx Close-In Weapon Systems (CIWS). Also there are 324 mm launchers for Mk.46 or Mk.50 torpedoes.Daily dose of freedom right here.Obviously, we can’t forget about the immaculate US submarine fleet. The US has some of the most advanced and quietest submarines. All of them use nuclear propulsion for extended range and stealth capabilities. The US has the…Ohio class (18 in commission) – 14 ballistic missile submarines (SSBNs), 4 guided missile submarines (SSGNs)- The U.S. Ohio-class submarines, of which 14 are Trident II SSBN, each capable of carrying 24 SLBMs. The first four which were all equipped with the older Trident I missiles have been converted to SSGN's each capable of carrying 154 Tomahawk guided missiles and have been further equipped to support Special OperationsSeawolf class (3 in commission) – attack submarines- The Seawolf class boats were intended to seek and destroy the latest Soviet ballistic missile submarines, such as the Typhoon class and attack submarines such as the Akula class. Seawolf class submarines are arguably the quietest submarines in the world ever constructed. It is exceptionally quiet even at high speeds. Most submarines need to keep their speed down to as little as 5 knots to avoid detection by passive sonar arrays, while the Seawolf class are credited with being able to cruise at 20 kots and still be impossible to locate. A Seawolf at 25 knots makes less noise than an older Los Angeles class submarine tied up alongside the pier. And these came out in 1989.Virginia class (11 in commission, 5 under construction, 2 on order) – fast attack submarines- The Virginia class submarines incorporate newly designed anechoic coating, isolated deck structures and new design of propulsor to achieve low acoustic signature. It is claimed that noise level of the Virginia is equal to that of the Seawolf class. The Virginia class submarines are fitted with 12 vertical launch system (VLS) tubes. These are used to launched Tomahawk land attack cruise missiles with a range of 1 700 km. Also there are four 533-mm torpedo tubes. These are used to fire a total of 26 Mk.48 heavyweight torpedoes and Sub-Harpoon anti-ship missiles. It is the first US submarine to employ a built-in Navy SEAL staging area allowing a team of 9 men to enter and leave the submarine.(Improved) Los Angeles class (34 in commission, 2 in reserve) – attack submarines- The Improved submarines are much quieter. It is described that improved Los Angeles class boats are 7 times quieter than the original Los Angeles class boats. The class features a very potent weapon array, including Mk.48 torpedoes, Sub-Harpoon anti-ship missiles and Tomahawk land attack cruise missiles. Tomahawk missiles can be launched from torpedo tubes of from dedicated vertical launching systems. These boats can operate under ice where the Russian ballistic missile submarines tend to hide.Surfacing of a US Submarine.Let’s move onto the air. While the USN has a quite capable Air Force. But that is dwarfed by the sheer magnitude and strength of the United States Air Force. The Air Force articulates its core missions as air and space superiority, global integrated ISR, rapid global mobility, global strike, and command and control. The USAF flys a multitude of different planes and helicopters. The USAF is the largest Air Force in the world, here is the list of what America flys. Most of these are at the cutting edge of innovation, with two of them being 5th generation stealth fighters. That’s really really good because no other country has an active 5th gen while the US has 2. The USAF also has the largest bomber, tanker, fighter, and transport fleets in the world. The USAF has so many staging areas around the world, that the US can have bombers or any other planes on station, anywhere around the world in a matter of hours.Attack: A-10, AC-130, MQ-1, MQ-9Bomber: B-1B, B-2, B-52HElectronic warfare: E-3, E-8, EC-130Fighter: F-15C, F-15E, F-16, F-22 (5th gen), F-35A (5th gen)Helicopter: HH-60, UH-1NReconnaissance: MC-12, RC-135, RQ-4, RQ-170, U-2, U-28Trainer: T-1, T-6, T-38, T-41, T-51, T-53, TG-16Transport: C-5, C-12, C-17, C-21, C-32, C-37, C-130, C-40, CV-22, VC-25Tanker: KC-10, KC-135Let’s look at the two of my favorite ones and the most technologically advanced planes in the world.F-22 RaptorThe F-22 Raptor air superiority fighter is almost invisible to radars. This aircraft carries a powerful array of weaponry. It is the most advanced and most expensive production fighter aircraft to date. Many of sensors and avionics of this plane remain classified. Engines of the raptor allow the aircraft to supercruise over long ranges, while thrust-vectoring nozzles, combined with a triplex fly-by-wire flight control system, make it exceptionally maneuverable. The highly integrated avionics systems also include a data-link, inertial navigation system with embedded GPS for high-accuracy navigation, and advanced electronic warfare, warning and countermeasures systems. Two central computers manage the automatic switching of the sensors between completely passive and wholly active operation, according to the tactical situation. Artificial intelligence algorithms fuse data from the sensors and present only relevant information to the pilot to reduce workload while at the same time improving tactical awareness. The datalink allows tactical information to be shared with other F-22s. The tech is so special that other countries, not even NATO allies are given the chance to procure the plane.B-2 SpiritThe B-2A Spirit is the silver bullet of US policy, reserved for use against targets of the highest priority. The B-2's stealth characteristics enable the undetected penetration of sophisticated anti-aircraft defenses and to attack even heavily defended targets. This stealth comes from a combination of reduced acoustic, infrared, visual and radar signatures (multi-spectral camouflage) to evade the various detection systems that could be used to detect and be used to direct attacks against an aircraft. Composites are extensively used to provide a radar-absorbent honeycomb structure; the bomber has a minimal IR signature, does not contrail and uses its shielded APQ-181 radar only momentarily to identify a target just before attacking. The onboard DMS is capable of automatically assessing the detection capabilities of identified threats and indicated targets. The DMS will be upgraded by 2021 to detect radar emissions from air defenses to allow changes to the auto-router's mission planning information while in-flight so it can receive new data quickly to plan a route that minimizes exposure to dangers. Also, most of the B-2s are stationed in Missouri, and they are capable of bombing any target in the world despite being in the heart of America.Now for the US ARMYThe US army it self is massive in numbers, coming in at 1.01 million personnel, it self is one of the biggest standing armies in the world, and that's just one branch of the US military. Also, in the US military, it is the largest branch out of them all surpassing any other branch by almost 600,000 personnel. They provide the bulk of security for the US's foreign interests. The mission of the U.S. Army is to fight and win our Nation's wars, by providing prompt, sustained, land dominance, across the full range of military operations and the spectrum of conflict, in support of combatant commanders. Which is mainly air domination and land domination. They mainly engage is conventional warfare, and asymmetrical warfare. The US Army's main responsibilities is preserving the peace and security and providing for the defense of the United States, the Commonwealths and possessions and any areas occupied by the United States, Supporting the national policies, Implementing the national objectives, Overcoming any nations responsible for aggressive acts that imperil the peace and security of the United States. The US Army is also home to some of the most dangerous, prestigious and hardest working special forces teams in the world such as the frontline special force, the Rangers, we also have the green berets and the iconic 1st Special Forces Operational Detachment-Delta (Airborne) also known as Delta Force. The US army is thought to be one of the most battle tested and battle proven militaries in the world. With the mobility of the USAF an army QRF can be anywhere on earth in less than 24 hours. The US ARMY uses the M1A2 Abrams tank. One of the most badass, heaviest, fastest, and battle hardened tanks in the world.This tank has incredible technology and armor. Also it has seen combat. It is one of the most feared MBTs. The M1A2 offers signNow protection against all well-known anti-tank weapons. This main battle tank uses advanced armor, reinforced with depleted uranium layers. The M1A2 has signNow level of protection against all known anti-tank weapons. It can also employ counter-IED equipment. The tank is armed with the same 120-mm M256 smoothbore gun as its predecessor. Range of effective fire is in excess of 4 km. This main battle tank is powered by a Honeywell AGT1500 gas turbine engine, developing 1 500 hp. The tank is one of the fastest in the world, clocking in (with no governor) at 60 mph while being THE heaviest tank in the world. As of April of 2018, the US has no combat losses with the Abrams, the Abrams has only been lost due to friendly fire, never to enemy fire.I don’t think I need to explain the marines. Just know that they use the same tech as the Army (with some exceptions) but they are also the main invasion force for the US. And they are badass.The US military signNow is massive with the Aircraft carriers and the 700+ military bases around the world. The US is truly the most powerful military in the world. The fact that they can have a men anywhere in the world in less than 24 hours and being able to bomb any place on earth, just proves how powerful the US military is.

This is a long answer.I may be violating copyright law. But I think it is necessary.This question has been blown out of proportion. I am directly quoting the relevant sections- without any editing-from former election commissioner book.Read both Technical security aspects and administrative security aspects. Those who say that give me EVM and I will hack it ignore the administrative security aspects is like saying give me a gun and remove the security of Prime Minister and I can Kill him.Link of the book:English:Buy An Undocumented Wonder: The Great Indian Election Book Online at Low Prices in IndiaHindi:Buy Loktantra Ke Utsav Ki Unkahi Kahani (A Undocumented Wonder) (Hindi) Book Online at Low Prices in IndiaBelow are the sections from the book:Electronic Voting MachinesHistory and BackgroundNo presentation on the use of technology in Indian elections can be complete without a reference to EVMs. The voting system in India has undergone several changes over the decades. During the first two general elections to the Lok Sabha in 1952 and 1957, each candidate was allotted a separate coloured ballot box. The candidate’s name and symbol were not printed on ballot papers. Voters would drop an unmarked ballot paper in the ballot box of the candidate of their choice. The system, though very simple, evoked fears of tampering in the minds of stakeholders. Therefore, a marking system on the ballot paper was introduced during the mid-term elections to the Legislative Assemblies in Kerala and Odisha in 1960–61. That system remained in vogue until the 1999 Lok Sabha elections.Meanwhile, in 1977 the Commission introduced some form of electronic machines for recording votes in an error-free manner and removing the possibilities of invalid votes. S.L. Shakdhar, the then Chief Election Commissioner, while on tour in Hyderabad in December1977 requested M/s Electronics Corporation of India Limited (ECIL) to study the feasibility of using an electronic gadget for conducting elections. M/s Bharat Electronics Limited, Bengaluru (BEL) had already developed microcomputer based voting equipment, which they had used for the elections for the various unions of the company. They approached the Commission in January 1981 for manufacturing EVMs. On 29 July 1981 the Commission held a meeting with representatives from BEL, ECIL, the Ministry of Law and some CEOs regarding the use of EVMs in elections. It was decided to introduce EVMs in fifty polling stations in the 70-Parur assembly constituency in the assembly elections to the Legislative Assembly of Kerala held on 19 May 1982 as an experimental measure (the machines used had eight candidate buttons in the ballot unit (BU) instead of the sixteen candidate buttons as in existing EVMs. However, seven such BUs could be connected in series to provide for a maximum of fifty-six candidates).Since the central government could not take steps to introduce legislation as proposed by the Commission for amendments to the Representation of the People Act, 1951, and to the Conduct of Elections Rules, 1961 to facilitate the use of EVMs, the Commission issued directives under Article 324 of the Constitution of India for the use of EVMs and conducted elections at fifty polling stations using the machines. The use of EVMs was challenged in court and the Supreme Court of India* held that EVMs cannot be used in an election unless a specific provision is made in law providing for their use. The law was amended by Parliament in December 1988 and a new Section 61A was added in the Representation of the People Act, 1951, empowering the Commission to use voting machines. The amended provision came into force on 15 March 1989.In January 1990 the Government of India appointed the Electoral Reforms Committee (Dinesh Goswami Committee) consisting of representatives from several recognized national and state parties. The Electoral Reforms Committee felt that the machines should be examined by technical experts with a view to removing any doubts or misapprehensions in the minds of the public with regard to the credibility of the working of the machines. To do so it constituted an expert committee under the chairmanship of S. Sampath, Chairman, TAC, Defence Research & Development Organization, Ministry of Defence, and comprising reputed scientist P.V. Indiresan of the Indian Institute of Technology (IIT), Delhi, and Rao C. Kasarbada, Director, ER&DC, Trivandrum. The committee, after meeting with the manufacturers, election administrators and technical experts and conducting detailed laboratory tests, came to the conclusion that the EVM was a secure system. In April 1990, therefore, the expert committee unanimously recommended the use of EVMs without further loss of time.On 24 March 1992 necessary amendments to the Conduct of Elections Rules 1961 were notified by the government with regard to the use of EVMs. EVMs have been used in all bye-elections to parliamentary constituencies and Legislative Assembly constituencies since November 1998. The general elections to the Lok Sabha in 2004 and 2009 were conducted exclusively on EVMs. Several technological changes were made in EVMs in 2001 and again in 2006 to upgrade them. To address the concern that the fast changing technology may have overtaken older members, the Technical Experts Committee was expanded and it now has P.V. Indiresan as its Chairman, and D.T. Shahaniand, A.K. Aggarwala of IIT, Delhi, D.K. Sharma of IIT, Mumbai and Rajat Moona from IIT, Kanpur (now DG, CDAC) as its members. The Commission does not take any technical decision without their recommendation or approval.Types of Electronic VotingAcross the world, electronic voting is essentially of two types. First and most commonly used is polling place e-voting. The second is remote e-voting online which has been used only experimentally in some countries like Switzerland, Canada, Estonia and Spain. Moreover, EVMs used in polling place e-voting are of two types, Direct Recording Electronic Voting Machines (DR-EVM) and those using optical scanners. When a voter presses a button on the DR-EVM his vote is recorded electronically in the machine’s memory. EVMs used in India, Venezuela and Brazil fall in this category. In the other type a voter marks his choice on a paper ballot which is then optically scanned and the counting is done electronically. Some states in the US use this type of machine. Direct recording voting machines can either have electro-mechanical buttons or a touch-screen to record votes. These can either be stand-alone or networked. Networked machines can transmit results to a central server to compile results quickly and display them at a central website. Indian EVMs are direct recording voting machines with electro-mechanical buttons for voters and are non-networked. Counting is done separately by each machine and the result from all machines is compiled manually.Security Features in Indian EVMsTechnical Security—ECI-EVMs are manufactured by the Electronics Corporation of India Limited (Department of Atomic Energy) and Bharat Electronics Limited (Ministry of Defence), both central public sector undertakings which are entrusted with developing high security defence equipment. The machines are both mechanically and electronically protected to prevent any tampering. The software used in these machines is burnt into a one-time programmable/masked chip so that it cannot be altered or tampered with. These machines are not networked either by wire or by wireless with any other machine or system.Therefore, there is no possibility of data corruption by hacking. The software for this chip is developed in-house by BEL and ECIL independently. The software development team is separate from the production team and reports directly to the CMD.Operationally, the Indian EVM is a set of two units—the ballot unit and the control unit. A vote can be recorded only after the presiding officer enables the ballot unit through the control unit. However, even the presiding officer cannot enable the ballot for twelve seconds after every ballot is cast. Thus, a maximum of five votes can be cast in one minute. Samples of EVMs from production batches are regularly checked for functionality by the quality assurance group which is an independent group within BEL and ECIL. Certain additional security features were introduced in 2006. These include dynamic coding between the ballot unit and the control unit, installing a real-time clock, installing a full display system, and date and time stamping of every key press.Administration Security Measures for EVMsThe Commission has put in place elaborate procedural checks and balances aimed at preventing any possible misuse or lapses.EVMs are kept in a secure room with only one double-locked door. The room is guarded twenty-four hours by armed police. The lock on the EVM warehouse is opened only after giving notice to political parties to be present at the time of unlocking.First level checking (FLC) of each EVM is done before elections by BEL and ECIL. FLC is done transparently in the presence of representatives of political parties. A mock poll by casting at least a thousand votes in at least 10 per cent (now reduced to 5 per cent after political parties found 10 per cent too cumbersome) of EVMs randomly selected by political parties is done at the time of FLC. After the mock poll, a sequential printout of the result is taken and shown to the political parties for comparing the record of the mock poll kept by them. The entire FLC process is videographed. After the FLC every EVM is sealed using a pink paper seal manufactured by the Security Printing Press, Nasik, using security paper and security printing technology. Every pink paper seal has a unique number. Representatives of political parties put their signatures on the pink paper seal. After it has been sealed thus, the plastic cover of the machine cannot be opened during the election without breaking it. Any machine with a broken or damaged seal will not be used.EVMs are randomized by the District Election Officer before being distributed in the assembly constituencies in the presence of representatives of recognized political parties, to guard against the possibility of anyone manipulating the software.Preparing EVMs for candidates’ setting is done in the presence of the candidates or their agents or authorized representatives, and in the presence of the Commission’s observer. At this stage, once again, a mock poll is conducted.Multi-level thread sealing of various compartments and sections is done at the time of candidates’ setting as:Thread seal for the ‘candidate set’ and power pack (battery) section of the control unit after setting the number of contesting candidates and installing the battery respectively.Thread seal for ballot paper screen of the ballot unit after fixing the ballot paper.Two thread seals for ballot paper cover of the balloting unit.After this, the returning officers do the second randomization of the Control Units (CUs) and Balloting Units (BUs) to allot a CU and BU to specific polling stations.These CUs/BUs are then stored in a strongroom in the presence of the candidates/their agents and the Commission’s observer. The candidates/their agents are allowed to put their seals on the lock to the strongroom.The strongroom is opened in the presence of candidates/ their agents and the observer on the day when polling parties are dispatched to their respective polling stations.Before the actual poll, a mock poll of at least 100 votes is done by the presiding officer in the presence of candidates or their authorized agents to demonstrate that the EVM is working properly.Sealing of the result section/bottom compartment of the control units is done by the presiding officer after the mock poll in the presence of polling agents with the following seals:Green paper seal for result sectionThread seal for inner door of result sectionThread seal for the bottom compartmentThread seal for connector box for the cascading balloting unit, if any (when there are more than sixteen candidates)After the poll, the EVMs are sealed with paper seals and packed in plastic boxes, which are also sealed. These EVMs are taken straight to the strongroom from the polling stations. The strongroom is closed and sealed in the presence of the candidates/their agents and the Commission’s observer. They are permitted to affix their own seals on the locks of the strongroom and are allowed to guard it till the counting begins. They are provided facilities for this purpose. In addition, an armed police guard keeps round the clock vigil. Arrangements are also made for video coverage and CCTV coverage of the strongroom round the clock.The storage hall so sealed is opened in the presence of the candidates/their agents and the Commission’s observer on the day of counting.Controversies about EVMsEarly ControversiesBefore the elections in Tamil Nadu, Jayalalithaa Jayaram, General Secretary of the AIADMK, had written a letter to the Commission to discard EVMs and use paper ballots in the state assembly elections in 2001 on the grounds that electronic devices had failed miserably even in scientifically and technologically advanced countries like the US and Japan. She also filed a W.P. No. 3346 of 2001 in the High Court of Chennai. The case finally went to the Supreme Court where it was decided in favour of EVMs.Captain Amrinder Singh, President, Punjab Pradesh Congress Committee, raised objections in a petition before the Punjab High Court prior to assembly elections in 2002. He sent a team of experts to the Election Commission, as directed by the High Court, to examine the machines. The experts could not come up with any concrete objection even after detailed examination of the EVMs.Satinath Choudhary, a computer scientist in the USA and the President of Better Democracy Forum, could not demonstrate any tamperability of EVMs in a demonstration session on alleged tamperability of ECI–EVMs on 8 August 2009 in the premises of the Election Commission of India.A demonstration session on alleged tamperability of ECI–EVMs by one Haneefa (who, incidentally, wanted to promote his own machine) was held on 12 October 2007 in Bangalore. He could not demonstrate any malfunction or tamperability and was fined by the court.Recent ControversiesThe Commission also received petitions from individuals raising doubts about the non-tamperability of EVMs. These include Kirit Somaiya of the Bharatiya Janata Party, G.K. Mani, President, Pattali Makkal Katchi, Omesh Saigal, retired Chief Secretary of Delhi, Subramaniyam Swami, President Janata Party and Satinath Chowdhery.Rashtriya Janata Dal, All Indian Anna Dravida Munnetra Kazhagam, Telugu Desam Party, All India Forward Bloc, Asom Gana Parishad, Communist Party of India, Communist Party of India (Marxist), Indian National Lok Dal, Janata Dal United, Janata Dal (Secular), Rashtriya Lok Dal, Revolutionary Socialist Party and Samajwadi Party wrote a letter to the Commission requesting an all-party meeting on EVMs. The BJP also made the same request in a separate letter. The Commission held an all-party meeting on 4 October 2010 in which EVMs were discussed along with three other issues—monitoring expenditure, paid news and criminalization of politics. Most of the political parties expressed satisfaction with EVMs. Some political parties requested the Commission that the Expert Committee may be asked to examine the feasibility of introducing a Voter Verified Paper Audit Trail (VVPAT) with the EVMs.A programme on a Telugu TV Channel TV-9 by V.V. Rao and Hariprasad made a demonstration of alleged tamperability of EVMs on an EVM allegedly stolen from the office of the DEO, Mumbai. An FIR for theft of public property was registered. The trial in the case is ongoing.The main points raised by people alleging tamperability and the reasons why these are not acceptable include:It has been alleged that there is a possibility of the presence of a Trojan horse in an EVM. However, there is no such possibility because the software code is secret and not readable by anybody. The software programmers are of very high integrity. EVMs are manufactured by reputed public sector organizations and have proved very reliable. Every EVM is subjected to rigorous checks before deployment in the presence of political party representatives.It has been alleged that there is lack of voter verifiability in EVMs. The fact is that the voter verifies his or her ballot by a beep and by a LED getting lit next to the candidate’s button on the BU once the button is pressed.Some people say that there is a lack of a possibility of recount. The fact is that a recount is possible any number of times. There will not be any variance in the result displayed as there are no human errors in machine counting.Possibility of change of components (hardware hacking) has been mentioned. The fact is that after FLC an EVM is sealed and its inside cannot be accessed, making hardware hacking impossible.It was shown on television that the display on an EVM can be controlled from another Bluetooth device by passing the data in the EVM. This is not possible in a real election because in a real election nobody has access to EVMs and it is not possible to introduce a Bluetooth device in an EVM because of administrative safeguards and security.It was shown in the same television programme that using a chip on the memory, he could access and change the data in the memory of the EVM. This cannot be done in a real election because nobody can access the memory in an EVM without breaking open all its seals. A broken seal can be easily identified. If a seal is found broken or damaged, the machine is not used.Voter Verifiable Paper Audit TrailThe demand for a voter verifiable paper audit trail (VVPAT) in the EVMs has been around for some years. VVPAT allows voters to verify that their vote was cast correctly, and to provide a means to audit the stored electronic results. It includes a direct recording electronic voting machine (DRE) and a printer to print the ballot recorded in the electronic memory. It was first demonstrated in New York City in March 2001 and first used in Sacramento, California in 2002. In a VVPAT system the voter can review a physical ballot to confirm that the electronic voting system accurately recorded his or her vote. In addition, the election officials may manually recount ballots in the event of a dispute.The demand was referred to the Technical Experts Committee by the Commission, as suggested in the all-party meeting held by the Election Commission. The committee anticipated several technical problems in a VVPAT system, including:Possibility of the printer getting jammedRequirement of a large battery to operate the printer, which is difficult to maintain and chargeRequirement of special technical training for all polling personnelLonger time required per voterHigher costsIlliteracy in large sections of the population making it difficult for them to read the printoutPossibility of fading of the printout in a thermal paper printerThe Technical Expert Committee held consultations with political parties, civil society organizations and manufacturers of EVMs, and also saw a demonstration of the prototype VVPAT system developed by EVM manufacturers. The Technical Expert Committee recommended that a field trial of the system should be held in extreme environmental conditions.A field trial was accordingly conducted in Thiruvananthapuram (coastal area in Kerala), Delhi (capital of India), Jaisalmer (hot, desert region in Rajasthan), Cherapunji (in Meghalaya, receives highest rainfall in the world) and Leh (snowbound region in Jammu & Kashmir) in July 2011 in the presence of all stakeholders including political parties, civil society organizations and the media. The Commission issued a press note for wide participation of voters. It was found that certain improvements were required in the VVPAT system before it could be considered for use in an election. The Commission asked EVM manufacturers to carry out the design changes required.Thereafter, the manufacturers made several important changes in the design and produced an improved prototype. The Technical Experts Committee recommended that it should be tested in the field once again at the same places where the first field trial was held. Accordingly, the second field trial was held in July–August 2012, again in the presence of all stakeholders.The Technical Expert Committee approved the final design of the VVPAT units in a meeting held on 19 February 2013. The system was demonstrated in another all-party meeting held on 10 May 2013. All political parties recommended that VVPAT should be used in elections as soon as possible. The Commission decided to use the system initially in a bye-election. Accordingly, the Conduct of Elections Rules, 1961, was amended and notified on 14 August, 2013, allowing for the use of VVPAT along with EVMs in elections, and it was first used on 4 September 2013 in a bye-election for 51-Noksen (ST) assembly constituency in Nagaland.Subsequently, it has been used successfully in ten assembly constituencies in Mizoram on 25 November 2013 and one constituency of Delhi on 4 December 2013 during general elections to Delhi assembly constituency. The Commission has now decided to gradually expand its use and has placed orders for procurement of 20,000 units of VVPAT.

Selected Interview QuestionsCandidate: 00101.Why you are willing to join in a bank?I am willing to join in a bank since I hope that I may be having more opportunities to serve the public. Banks have better career opportunities by means of periodical promotions to higher cadre.02.What do you mean by appraisal of gold loans?Gold loans are granted against the security of gold jewellery namely gold chains, necklaces etc., The jewellery apart from gold contains certain amount of copper and stones. Appraiser is a person well versed in the art of appraising the jewellery and on appraisal of the je...

For officers there will be questions on economics, banking, finance and general affairs only (the recent events)Please note that the interview for bank placements are conducted by retired bank officials and more than 95 percent questions will be only on the above subjects and rarely one or two questions will be asked in engineering - electronics, information technology, mechanical engineering etc.,In fact the exact qualification meant for bank job is B. Com.The graduate knows about various types of accounting, economics, finance, management accounting etc and he will be more comfortable than others.Please concentrate on the following subjects:Types of accountsTypes of firmsFinancial statementsBalance sheet, profit and loss account, cash flow statement and funds flow statementVarious balance sheet ratiosVarious financial termsRead the following sample questions:Selected Interview QuestionsCandidate: 00101.Why you are willing to join in a bank?I am willing to join in a bank since I hope that I may be having more opportunities to serve the public. Banks have better career opportunities by means of periodical promotions to higher cadre.02.What do you mean by appraisal of gold loans?Gold loans are granted against the security of gold jewellery namely gold chains, necklaces etc., The jewellery apart from gold contains certain amount of copper and stones. Appraiser is a person well versed in the art of appraising the jewellery and on appraisal of the jewellery, he will be finding out the approximate gold content so that the bank may be able to provide loans against the gold content.03.What are the different kinds of term deposits available in a commercial bank?The different kinds of term deposits available in a commercial bank are – fixed deposit, recurring deposit and reinvestment deposit. In the case of fixed deposit, a fixed amount is accepted for a definite period and interest is paid on quarterly basis. In the case of reinvestment deposit which is similar to fixed deposit, interest is paid on maturity since interest is reinvested. In the case of recurring deposit, monthly instalments are accepted for a fixed period.04.What is the minimum period for which a fixed deposit is accepted and the maximum period for which a fixed deposit is accepted?The minimum period for which fixed deposit is accepted is seven days and the maximum period is ten years.05.Whether a fixed deposit can be accepted for a period more than ten years?In the case of deposits in the names of minors on account of settlement of claims, the deposit can be for more than ten years06.What do you mean by FERA?FERA means foreign exchange regulations act and it came into effect from the year 1973. An act to regulate certain payments dealing in foreign exchange, securities, the import & export of currency and acquisition of immovable property by foreigners. Under Section 31 (1) of the Foreign Exchange Regulation Act ( FERA) of 1973, it is mandatory for foreign corporations, which are not incorporated in India to obtain permission from the Reserve Bank Of India (RBI) to acquire, hold, transfer or dispose off in any manner (expect by way of lease for a period not exceeding five years) any immovable property in India.07.What do you mean by ECS?ECS means electronic clearing service and the customer can authorize on periodical basis to make payment of certain utility bills like electricity charges, water charges etc., by debiting his account till such time he submits a revocation letter. Similarly, he can authorize corporate to credit the dividends on shares and interest on debentures as and when due to the credit of his account with the bank.08.What is the minimum amount that can be sent through RTGS?The minimum amount that can be sent through RTGS is Rupees two lakhs and there is no maximum limit09.What is the maximum amount that can be remitted through NEFT?There is no or maximum limit for remittances sent through NEFT10.What is the maximum amount that can be sent abroad by any resident individual?Under liberalized remittance scheme, all resident individuals including minors are allowed to freely remit an amount upto US dollars 250000 (or its equivalent freely convertible foreign currency) per financial year11..What is the name of apex bank which is responsible for the development of agriculture in the country?NABARD is the apex bank which is responsible for the development of agriculture in the country.12.What are the different kinds of schemes available in our country aiming towards poverty alleviation?National old age pension scheme; Jawahar Gramin Samruddi Yojana; National Family Benefit scheme; Mahatma Gandhi National Rural Employment Guarantee Scheme; National Maternal Benefit Schemel Annapurna etc.,13.What do you mean by crossing of any cheque?Writing of two parallel transverse lines drawn on the face of the cheque on top left hand corner with or without any words between the lines is known as crossing and it is for the purpose of making payment of the cheque through an account in the name of the payee or holder.14.What are the different kinds of crossing?Two parallel transverse lines drawn on the face of the cheque on top left hand corner of the cheque with any words or without any words is known as general crossing and the the payment can be made to the account of the payee or holder with any bank. In case the name of any bank is mentioned within the two parallel lines, it is known as special crossing and in this case, the payment should be made to the account of the payee or holder with the bank mentioned in the crossing only and not to any other bank.15.What do you mean by CASA?CASA means current and savings and this is applicable to computerized branches linked under core banking solution16.Whose signature is available in Rs. 100/- currency note?The signature of RBI governor is available in Rs. 100 currency note17.What do you know by dividend?Dividend is the return available in the form of money for the investments made by the shareholders in the equity shares and preference shares of any company.18.Bank holidays are declared according to which act?Holidays for banks are declared according to Negotiable Instruments act 1881 by the respective state governments in their states. However, all Sundays, all second and fourth Saturdays have been declared as holidays apart from the holidays permitted for religious and national ceremonies.19.Banks are functioning according to which act?Commercial banks in the country are functioning according to Banking Regulation act 1949 and to some extent as per Reserve Bank of India act 193420.RBI is functioning in the country as per which act?Reserve Bank of India is functioning according to Reserve Bank of India act 1934.Candidate: 00201.What do you mean by a guarantee?Guarantee is an undertaking executed by one person called as guarantor in favour of another person called as beneficiary expressing his intention to make payment in the event of failure of the principal debtor on payment of a debt or failure to perform any contract within the stipulated time or according to the terms of the contract.02.What are the different types of guarantees?The different types of guarantees are financial guarantee, performance guarantee and deferred payment guarantee03.What do you mean by letter of credit?Letter of credit is an undertaking executed by one banker on behalf of its customer to honour bills and documents drawn by another person as per the terms and conditions as mentioned in the letter of credit04.What do you know by packing credit advance?It is the preshipment advance granted by one bank to the exporter for the purpose of procuring raw materials; payment of various duties like customs duty, excise duty; packing charges; shipment charges etc.,05.What do you mean by special crossing?In case the name of any bank is mentioned within the two parallel lines, it is known as special crossing and in this case, the payment should be made to the account of the payee or holder with the bank mentioned in the crossing only and not to any other bank.06.What do you know by IFSC code ?IFSC means Indian Financial System Code and this is one alphanumeric code consisting of eleven digits of which the four alphabetic digits represent the name of the bank mentioned in abridged form and the next zero is known as control number and the last six numeric digits represent the branch code of the bank.07.Which is called as mother of deposits?Savings deposit is known as mother of deposits. Normally the first time customers will be advised to open savings deposits with the bank branch before availing any other facility with the bank08.Who is a called as natural guardian?Bother mother and father are known as natural guardian for the purpose of opening accounts in the name of minors represented by the guardian.09.Whether grandfathers and grandmothers can be natural guardians?Grand fathers, grandmothers grand grandfathers or grand grandmothers cannot represent as natural guardians on be behalf of the minors10.Which type of credit facility is available to a farmer for raising crops?For raising crops, the farmers are provided with crop loans, Kisan Credit Cards etc.,11.What do you mean by NULM?National Urban Livelihoods Mission (NULM) was launched by the Ministry of Housing and Urban Poverty Alleviation (MHUPA), Government of India in 24th September, 2013 by replacing the existing Swarna Jayanti Shahari Rozgar Yojana (SJSRY).The NULM will focus on organizing urban poor in their strong grassroots level institutions, creating opportunities for skill development leading to market-based employment and helping them to set up self-employment venture by ensuring easy access to credit. The Mission is aimed at providing shelter equipped with essential services to the urban homeless in a phased manner. In addition, the Mission would also address livelihood concerns of the urban street vendors12.What do you mean by Gram Sadak Yojana?The Pradhan Mantri Gram Sadak Yojana called as PMGSY was launched by the Government of India for the purpose of providing connectivity to unconnected habitations as part of a poverty reduction strategy. Government of India is endeavouring to set high and uniform technical and management standards and facilitating policy development and planning at state level in order to ensure sustainable management of the rural roads network.13.What are the salient features of MGNREGA?MGNREGA is known as Mahatma Gandhi National Rural Employment Guarantee act and according to this employment is guaranteed at least one person per household in rural areas. It aims at enhancing the livelihood security of people living in rural areas by guaranteeing hundred days of wage employment during each financial year to a rural household whose adult members volunteers to undertake unskilled manual work14.Which authority is supervising the functions of insurance companies?IRDA – Insurance Regulatory and Development Authority is the authority responsible for supervising the functions of insurance companies in our country15.What is meant by IPO?IPO means initial public offer and this is the first time public offer of equity shares, preference shares or debentures to the public for subscription16.What is meant by ASBA?ASBA means applications supported by blocked amount. Nowadays investors are permitted to remit the amount through ASBA demand drafts drawn in ASBA accounts for the purpose of subscribing shares or debentures through initial public offer and further public offer. When the demand draft is issued, instead of debiting the amount in the account, the amount is blocked till such time the shares or debentures are allotted. On allotment, the entire amount is debited; in the case of partial allotment, the amount is debited equivalent to the value of allotment and in the case of non allotment, the entire amount is allowed for further use. For the intervening period, the depositor earns interest as applicable to the category of deposits.17.What is meant by Performance guarantee issued by any commercial bank?In the case of contracts in favour of governments, the contractors are in a position to provide a bank guarantee by a reputed commercial bank, thereby undertaking to guarantee the government department to compensate the loss on account of failure of performance of the contract by the contractor within the due date or failure to perform the contract as per the terms and conditions of the contract. This is known as performance guarantee.18.What do you mean by packing credit facility issued by any commercial bank?Packing guarantee is known as preshipment advance provided by the commercial bank to the exporter for the purpose of procuring raw materials, packing materials or making payment towards customers duty, excise duty, transportation charges etc.,19.What do you mean by notice money?Notice money is money borrowed for a period of two days and more and upto fourteen days in the call money market.20.Treasury bills are issued by which authority and what are the different kinds of treasury bills available in the country?Treasury bills are issued by central government and state governments for the purpose of mobilizing funds from the public and others towards meeting the cost of various projects. There are three kinds of treasury bills as at present namely – 91 days, 182 days and 364 days. 91 days treasury bills are issued each Friday and the notified amount is Rupees one hundred crores. 182 day treasury bills are issued during alternative Wednesdays which is non reporting week and the notified amount is Rupees 100 crores and 364 days treasury bills are issued on alterntive Wednesdays which is a reporting week and the notified amount is Rupees 500 crores.Candidate: 00301.What do you know by PIN number?PIN number is four digit number expressed in numerical characters. PIN number is used for the transactions done using debit cards and credit cards through automated teller machines and point of sale terminals.02.What do you know by PAN number?PAN number is known as permanent account number. This is used for the purpose of remittance of income tax with income tax department. Tax payers should get one PAN number by sending an application along with relevant documents and by payment of specified sum of money to Income tax department or their agencies. It is ten digit number consisting and alphapetical and numerical characters.03.What are the functions of DICGC?DICGC means Deposit Insurance and Credit Guarantee Corporation and this corporation provides deposit insurance upto an amount of Rupees one lakh per depositor per bank in the event of insolvency of the bank and it also provides small loans guarantee upto certain limits04.What is the role played by ECGC?ECGC provides guarantee support to the exporters of the country in the form of several export guarantees05.Mention the Regional Rural Banks which are functioning in Tamilnadu?The Regional rural banks which are functioning in Tamilnadu are Pandiyan Grama Bank and Pallavan Gramin Bank. Pandiyan Grama Bank has been sponsored by Indian Overseas Bank and pallavan Gramin Bank has been sponsored by Indian bank.06.What do you mean by Mergers and what are the different kinds of mergers?When two independent units merge together to form a single unit, it is known as merger. The mergers can be vertical merger, horizontal merger, reverse merger, consolidation, amalgamation etc.,07.What do you mean by horizontal merger and reverse merger?When the business functions of two units are identical in nature and when the merger takes place between those units, it is known as horizontal merger. New Bank of India merged with Punjab National Bank and both are banking organizations. Industrial Credit and Investment Corporation of India Limited was instrumental in establishing ICICI bank as per LPG norms and subsequently Industrial Credit and Investment Corporation Limited merged with ICICI Bank and when a parent unit gets merged with an ancillary unit, it is known as reverse merger.08.Which are the top two private sector banks in our country?The top private sector banks in our country are HDFC bank limited and ICICI bank limited09.Whether housing loan is a priority sector advance and if so, upto what amount?Housing loans granted are treated as priority sector advances subject to certain conditions. Loans to individuals up to Rupees 28 lakh in metropolitan centres (with population of ten lakh and above) and loans up to Rupees 20 lakh in other centres for purchase/construction of a dwelling unit per family, are eligible to be considered as priority sector provided the overall cost of the dwelling unit in the metropolitan centre and at other centres does not exceed Rupees 35 lakh and Rupees 25 lakh, respectively. Housing loans to banks’ own employees are not eligible for classification under priority sector.10.Whether educational loan is a priority sector advance?Loans to individuals for educational purposes including vocational courses upto Rupees 10 lakh irrespective of the sanctioned amount are eligible for classification under priority sector.11.What do you mean by micro, small and medium enterprises?The classification is based on original investment in plant and machinery: For micro enterprises, upto Rs. 25 lakhs for manufacturing units and Rupees 10 lakhs for service units; For small enterprises, for manufacturing units above Rupees 25 lakhs and upto Rs. 5 crores and for service units above Rupees 10 lakhs and upto Rupees 2 crores; For medium enterprises, for manufacturing units above Rupees 5 crores and upto 10 crores and for service units above Rupees 2 crores and upto Rupees five crores12.What do you mean by KYC and name any two important documents which are obtained as per KYC?KYC means know your customer guidelines and these guidelines were prescribed by RBI for new customers who are willing to open accounts with commercial banks and according to KYC, any new customer who is willing to open accounts with commercial banks should submit the photocopy of anyone of the following namely; driving licence, voter id card, AADHAARA card, passport as address proof and photocopy of anyone of the following namely; driving licence, voter id card, AADHAAR card, passport, pancard as identity proof. KYC is antimony laundering device.13.What is the present repo rate and reverse repo rate?The present repo rate is 6.25% and reverse repo rate is 5.75%14.In the case of MICR code, the middle three digits represent what?MICR code consists of nine numerical digits and the middle three numerical digits represent bank name15.PAN number consists of how many alpha characters?PAN number consists of ten digits. The first three alpha characters are random alphapetical characters between AAA to ZZZ; next one alpha character represents the category of the cardholder; the next one alpha character represents the first character of the name of the cardholder; the next four numerical digits are auto generated sequential numbers and the last one single alpha character is a check digit.16.What do you know by biometric automated teller machines?In the case of automated teller machines, the four digit numerical PIN number is used for performing transactions using debit card and credit card. In the case of biometric automated teller machines, instead of PIN numbers, anyone of the following body parts is used – left hand thumb impression; eye retina and voice recognition. In India, the left hand thumb impression is the accepted mode and these kinds of automated teller machines are known as green label automated teller machines.17.What is the criteria by which a bank is considered as largest bank?For the purpose of ranking, a bank is considered to be largest or smallest taking into consideration the business position of the bank; namely – the total deposits and total advances as at the end of March each year.18.What do you mean by commercial paper?Commercial papers are issued by well rated organizations for mobilizing funds from the public and other corporate. They are issued at a discount and they are freely negotiable by endorsement and delivery. The minimum maturity period is seven days and the corporate should have earned credit rating equivalent to P2 issued by CRISIL19.What do you mean by FCNR?FCNR means foreign currency non resident accounts. Non resident Indians and Persons of Indian origin are eligible to invest in this deposit. It is a term deposit accepted in the currencies – US dollar, Sterling Pound, Euro, Japanese Yen, Canadian dollar and Australian dollar. The minimum period of deposit is one year and the maximum period is five years and the deposit is held in foreign currencies and the interest earned is free from income tax.20.What do you mean by Escheat?He is a person who dies without leaving any legal heirs and in this case, his estate will revert to the state government.Candidate: 00401.What do you mean by money laundering?Using the banking channel for the purpose of bringing illegal money is known as money laundering.02.What do you mean by subprime lending?Mass lending by commercial banks to the borrowers without ascertaining the credit worthiness of the borrowers03.What is meant by LPG and who is responsible for introduction of LPG strategy in our country?LPG means liberalization, privatization and globalization and this was coined by Dr. Manmohan Singh, the then finance minister of our country. The salient highlights of the Liberalisation, Privatisation and Globalisation Policy in India are: Foreign Technology Agreements; Foreign Investment; MRTP Act, 1969 (Amended); Industrial Licensing; Deregulation Beginning of privatization; Opportunities for overseas trade; Steps to regulate inflation; Tax reforms; Abolition of License -Permit Raj04.What do you mean by PURA?PURA means providing urban amenities in rural areas. This concept was coined by Dr. A.P.J. Abdul Kalam, the then president of India.05.What do you know by current ratio?It is one equation between current assets and current liabilities. This ratio provides the liquidity position of the organization. When the ratio is more than one it is known as positive current ratio and the unit is having sufficient working capital and when it is less than one, the unit is found to have more current liabilities than current assets and the liquidity position is found to be very weak.06.What do you know about negotiable instruments act?In India, the negotiable instruments act was passed during 1881 which came into force with effect from March 01, 1882. Negotiable instruments means and include promissory note, bills of exchange and cheque payable to order or bearer. Promissory note, bill of exchange, cheque and demand draft are negotiable instruments.07.What do you know by MICR?MICR means magnetic ink character recognition. MICR code is available in MICR bank at the bottom of the cheque or demand draft. It consists of nine numerical digits of which the first three digits represent the centre/city; the middle three digits represent the bank and the last three digits represent the branch of the bank.08.When it comes to rural lending, which are all considered to be priority sector advances?When it comes to rural lending, the loans granted to the following are considered to be priority sector advances – Loans granted to all agriculture related activities; self help group; Differential rate of interest; Loans to SC/ST beneficiaries; Loans provided to doctors for setting up clinics in rural areas; Loans to dealers in fertilizers and pesticides; loans to dealers of springler irrigation and drip irrigation equipments etc.,09.Who is called as an authorized dealer?Authorised dealer is at present known as authorized person. Authorised person is an individual or organization permitted to deal in foreign exchange business in the country.10.What do you know by financial inclusion?Financial inclusion means the following: Providing formal banking services to poor people in urban and rural areas; Promoting the habit of money savings, insurance, pension-investment among poor people; Helping the people in getting loans at reasonable rates from commercial banks so that they do not become victims to local moneylenders11.What are the important initiatives taken through financial inclusion in the country?The following are the important initiatives taken through financial inclusion in our country: Lead banking scheme; No frill accounts; Basic savings bank deposit accounts; JANDHAN accounts; business correspondent and business facilitator facilities; Swabhiman campaign;12.What do you mean by MCLR?MCLR replaces the base rate system. RBI introduced the system with effect from 01.04.2016 in order to determine the base rate by commercial to improve the efficiency of monetary policy transmission. All rupee loans sanctioned and credit limits renewed with effect from 01.04.2016 to be priced with reference to MCLR and it will be an internal benchmark for the banks. It consists of marginal cost of funds, negative carry on account of CRR, operating costs and tenor premium. The marginal cost of funds consists of two components namely; marginal cost of borrowings and return on networth13.What are the major money market instruments?Certificate of deposits; Commercial paper; Inter Bank participation certificates; iner bank term money; Treasury bills; Bills rediscounting and call/notice money14.What are the differences between NEFT and RTGS?Both are two categories of online remittance facilities through CBS enabled branches of commercial banks. The minimum balance that can be sent through RTGS is Rupees two lakhs whereas in the case of NEFT, there is no such limit. The beneficiary gets his funds at real time and it means instantaneously without any loss of time. In the case of the beneficiary gets his funds in between batches15.Who is deciding the rate of interest for savings deposit accounts?Rate of interest for savings deposits is decided by respective commercial banks only and RBI has permitted full freedom in this connection.16.Who cannot open savings deposit accounts?Proprietorship concerns, partnership firms, limited liability partnership firms, private limited companies and public limited companies are not permitted to open savings accounts17.What is meant by memorandum of association?Memorandum of association is the parent document for any company whether it is a private limited company or private limited company. It contains the details of formation of the company, policies, objectives, registered office and more.18.What is known as power of attorney?Power of attorney is an authorization given by one person called as principal in favour of another person called as an agent authorizing the agent to perform certain activities on behalf of the principal and it can be specific power of attorney or particular power of attorney.19.In which currencies FCNR accounts can be opened in our country?FCNR account can be opened in the following currencies namely; US dollars, Sterling Pounds; Euro; Japanese Yen; Australian dollars and Canadian dollars.20.What are the differences between NRE and FCNR?NRE and FCNR accounts are opened by non resident Indians and Persons of Indian Origin in India. NRE accounts are to be opened in rupees whereas FCNR is opened in foreign currencies. NRE accounts can be opened in the form of savings account, current account, reinvestment deposit and fixed deposit whereas, FCNR account is permitted to be opened as fixed deposit or reinvestment deposit. NRE term deposits can be opened for a minimum period of seven days and maximum period of ten years. FCNR accounts can be opened for a minimum period of one year and maximum period of five years.Candidate: 00501.What do you mean by masala bonds?Masala bonds are the bonds issued for rupee denominated borrowings by Indian companies in overseas markets02.What do you mean by secondary market in our country?Secondary market pertains to capital market and it is also known as stock exchange or old issues market. Shares, debentures and bonds can be bought and sold from the stock exchange through registered brokers.03.What do you mean by fund based limits and non fund based limits?The loans provided to the borrowers in the form of term loans, overdrafts, cash credits and bills discounting limits are known as fund based limits since funds are released to the borrowers. Guarantees and letter of credits are non fund based limits since no funds are provided for the time being since they are contingent liabilities.04.What do you mean by off balance sheet items?Guarantees, letter of credits and bills sent for collection for which proceeds are yet to be realized are known as off balance sheet items05.What do you mean by closed ended scheme?This is one form of mutual fund scheme. Like initial public offer, the scheme is open for a certain period only and after which the public cannot invest their amount in the units under this scheme.06.What do you mean by open ended scheme?This is one mutual fund scheme and the units under scheme can be purchased and sold at any time07.What do you mean by overdraft facility granted by a bank?Overdraft is a facility granted by the banks towards meeting the working capital requirements of a borrower. This is provided by means of credit limit over and above the current account balance and the borrower has to pay the interest as and when due.08.What do you mean by collateral security?Collateral security is an additional security provided by the borrower in addition to the primary security. For example, in the case of vehicle loan, the car purchased out of loan is known as the prime security and the insurance policy obtained by the bank from the borrower for the sanction of this loan is known as collateral security.09.In regard to educating a customer, what are the different kinds of information boards displayed in a bank branch?The following boards are available in the bank branches – Working hours and business hours; Interest rates on various deposits; Interest rates for loans; Service charges; Time norms for various services; Details of schemes available in the branch10.Who is the present RBI Governor?The present governor of RBI is Shri Urjit Patel and he is functioning as the governor of RBI since 04th September, 201611.What do you mean by unclaimed deposits?The deposits which are not in operation for more than ten years are known as unclaimed deposits. For the purpose of this classification, the customer induced transactions are only taken into account.12.How many regional centres are available for RBI in the country?Reserve Bank of India has four regional centres at the following places – Chennai, Kolkatta, New Delhi and Mumbai.13.What do you mean by white label automated teller machines?The automated teller machines which are maintained and managed by non bank entities are known as white label automated teller machines. In our country TATA Indicash and Muthoot finance are having such machines installed at various centres.14.What are the advantages of CTS?CTS means cheque truncation scheme. This is used for clearing purpose. Normally commercial banks used to send the physical cheques through their15.What do you mean by certificate of deposits?Certificate of deposits are issued by scheduled commercial banks (except Regional Rural Banks) and all financial institutions within their umbrella limits. Individuals, corporate, companies, trusts, funds and associations can invest in certificate of deposits and they are issued for a minimum period of seven days and maximum period of twelve months in the case of commercial banks and in the case of financial institutions the minimum period is one year and maximum three years, Minimum amount for investment is Rupees one lakh and in multiples of Rupees one lakh.16.RBI is called by which names – mention four names?RBI is called by the following names – banker to banker; lender of the last resort; custodian of banks; banker to government;17.What do you mean by ways and means advances?Ways and means advances were introduced as per an agreement between Reserve Bank of India and Government and they are temporary overdraft facilities provided by RBI to central government and state governments and the purpose is to bridge the time interval of mismatch the government expenditure and receipts. The duration of the limit is ten days for central government and 14 days for state government departments.18.Who is banking ombudsman and by whom he is appointed?Banking Ombudsman is an arbitrary authority who resolves the complaints received from the customers of commercial banks in regard to bank related issues.19.What do you mean by EEFC account?Exchange Earner’s Foreign Currency account is an account maintained in an account maintained in foreign currency with an authorized dealer ; i/e/ a bank dealing in foreign exchange. Professionals, exporters, trainers etc., who are in receipt of foreign exchange for the services extended by them in foreign countries can invest the amount in EEFC account and the account will be in the form of current account and no interest is paid for the balance held in EEFC account.20.What do you know by NBFC?NBFC means non banking finance companies. It is a company registered under Indian Companies act 1956 and presently 2013 engaged in the business of providing loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire purchase, insurance business, chit fund business etc.,Candidate: 00601.What do you mean by arbitrage?It is the process of purchase of one security from one market and selling the same security for earning a profit at the same time at another market.02.What do you mean by Bonus shares?It is the free allotment of shares in certain proportion to the existing shares held by the shareholders of a company and this is a means of providing reward to the investors for their contribution to the growth of the organization by capital investment03.What do you mean by Bull?It is a term given to a speculator on stock exchange who buys the securities in expectation of a rise in the prices. The market is called as bullish when there is a domination of buyers over the sellers04.What is known as dematerialization?Dematerialisation is the process by which shares in the physical form are cancelled and they are issued in electronic form. The certificates are known as demat shares. This process eliminates the time and manpower involved in transfer and registration of shares from the seller to the buyer05.What do you mean by moorat trading?It is the auspicious trading on a special day, say Diwali during some specified hours.06.What do you mean by rights issue?It is the issue of new shares to the existing shareholders in a fixed ratio to those already held at a price which is generally below the market price of the old shares.07.What do you mean by futures?It is a standard contract issued on an agreement to buy or sell an asset at a certain price at a certain time in future. It is an obligation on the buyer to purchase the underlying instrument and the seller to sell it.08.What do you mean by forward?The forward is a contract that is traded off the stock exchange and it is self regulatory and has certain flexibility unlike future which are traded at stock exchange only and it do not have flexibility of quantity and quality of commodity to be delivered and these are regulated by Securities Exchange Board of India, Reserve Bank of India or other agencies.09.What do you mean by factoring?Factoring is an arrangement in which short term domestic receivables on sale of goods or services are sold to a company called as factor and this scheme came into existence during 1991 based on the report of Kalyanasundaram Committee10.What do you mean by forfeiting?Forfaiting represents the purchase of obligations, which fall due at some future date and arise from the delivery of goods in export transactions, without recourse to the previous holder of the obligations.11.What do you mean by leasing?A lease is a contract where the owner of the assets transfers the right to another person to use the assets against the payment of fixed lease rentals. In the case of one lease contract, there are two parties namely – the lessor or the owner and the lessee or user. The lessor remains owner and the leased property remains with the possession of the lessee.12.What do you mean by debt market?It is a market wherein the debt instruments are issued to the public by any company for investment and such debt instrument bears a fixed interest rate payable half yearly on specific dates and principal amount repayable on particular date on redemption. Debentures are normally secured/charged against the asset of the company in favour of debenture holder. The following are some debt instruments – debenture; bond; zero coupon bond; convertible bond; security receipts etc.,13.What do you mean by greenshoe option?It is an option provided by Securities and Exchange Board of India to a company which is coming out with one initial public offer to the public. By this option, the company can retain certain portion of the applications received through IPO in case of oversubscription.14.What do you mean by equity market?Equity market consists of investment by the public in different kinds of shares issued by the company and by subscribing for the shares, the investors are expressing their willingness to stand as owners of the company. The equity market consists of equity shares, preference shares, rights shares, bonus shares etc.,15.What do you mean by sweat equity?Directors and employees contribute intellectual property rights to the company in the form of providing technical know-how captured by way of research or contributed by way of strategy software developed for the company or adding profit and economic value. To compensate the directors and employees, the concept of sweat equity has come into existence.16.What do you mean by participatory notes?A participatory note is a financial derivative instrument issued against an underlying security and it allows the holder, to get dividend or capital gains earned from the underlying security although some of the holders may not be eligible to trade in stock markets in India.17.What do you mean by book building?Book building is the process to assess the demand for a particular public issue of various prices, based on which the issue is priced and sold to the investors.18.What do you mean by sensex?It is a stock market index provided by Bombay Stock Exchange for the information of the investors. The positive or negative variation in the index provides an insight for investment or dis-investment to the general public and especially the investors in the stock market. It is based on the market capitalization of top thirty shares earmarked by BSE19.What do you mean by Nifty?It is a stock market index provided by National Stock Exchange for the information of the investors. The positive or negative variation in the index provides an insight for the investment or dis-investment to the general public and especially the investors who are participating in stock market trading. It is based on the market capitalization of top fifty shares earmarked by NSE20.What do you mean by swap?A swap is a contract that binds two counterparties to exchange the different streams of payments over the specified period at specified rate.