Formal Letter For SBI PO Descriptive Paper

Formal Letter For SBI PO Descriptive Paper

Dear readers, As you know that SBI PO 2014 Paper will also contain a Descriptive Test  of 50 marks (1 hour duration), which will consist of English Language Comprehension, Short Précis, Letter Writing & Essay). 

SO here we are presenting you a Formal letter for Descriptive purpose, which will be important for upcoming SBI PO exam.

NOTE: Please note, you have to mention a random address in the below format and not an actual one, as you are not supposed to divulge any personal information.

Q. Write a letter to the MCD about the problem of open manholes in your area.

Ans.

ABC

Block – J 88/3

Ashok Vihar

Delhi

Date: 22 /04/ 2014

To,

The Commissioner,

Municipal Corporation of Delhi

Subject – Problem of Open Manholes in Laxmi Nagar

Sir,

   With due regards, I wish to bring to your kind notice that the conditions of man holes in our area are very unsatisfactory.

Recently, a six year old child had a providential escape when he fell into an open manhole in our area. Luckily a passerby rescued him. The frightening fact is that open manholes have become the source of imminent danger to the lives of the residents of this area, especially small children. These manholes with their gaping mouths can be death-traps for unsuspecting passerby. They can also cause major motor accidents.

   

 I would request you to instruct the concerned staff to take immediate necessary action to get these open manholes covered before they claim any life.

Yours faithfully,

ABC

Précis Writing Tips and Example for SBI PO Descriptive Paper

Précis Writing Tips and Example for SBI PO Descriptive Paper

Dear readers, as you know that SBI PO 2014 Paper will also contain a Descriptive Test  of 50 marks (1 hour duration), which will consist of English Language Comprehension, Short Précis, Letter Writing & Essay). 

So, here we are presenting you a few writing tips and an example on Précis Writing , which will be important for upcoming SBI PO exam.

Précis Writing: Writing a précis means making an intelligent summary of a long passage. To write a précis one should have a clear understanding of the passage: only then one is able to include all the essential points, tips and tricks of essay examples in the précis.

Some general considerations:

1. Learn to shorten your words, text of written work, useful writing tips, essential thoughts, ideas or fact.

2. It is generally accepted that a précis should be a third of the passage given. If the original passage has 300 words, the précis should not be more than 110 words in length.

3. A précis should be in the language of the précis-writer. The original passage is not to be reduced in length by just removing unimportant or unnecessary sentences and by reproducing the rest as the précis. It should be a brief gist or summary of the passage expressed in the writer’s own words.

4. A précis should be full i.e. it should contain all the essential thoughts, ideas or fact in the original passage. It should not contain repetitions or observations that are not relevant to the main theme of the original.

5. A précis is always written in Reported Speech. The passage given may be a speech made by a person in Direct Speech, but the précis is to be in Reported Speech or the Third Person or in the Past tense.

Techniques of Précis – Writing

There three kinds of work to be done in producing a clear and successful precis. They are (1) Reading, (2) Writing and (3) Revision.

1. Reading

Read the passage carefully

If one reading is not enough to give you a general idea of its meaning, then read it second time. As you read, find out the subject or the theme of the passage and what is said about the subject.

It will be a good thing if you find out the lead or the topic sentence. The lead sentence will help you to see the subject clearly. It will also help you to think of a title.

Now comes the process of selection. The writer of the précis writing passages has to decide what facts or ideas in the passage are essential and what are of secondary or no importance. Taking the main ideas of the passages as your point of reference, it should not be too difficult to write out the important points in the original in a corner of your writing work sheet.

2. Writing

You should first prepare a draft of the précis, keeping in mind, the need to reduce the original to one-third its length. The main thoughts expressed in the passage, the ideas it contains, the opinions presented and the conclusion arrived at should figure in the rough draft. Unimportant things like the names of people and places and dates should not figure in it.

It may so happen that your first draft is too long or that it sounds rather jerky. Shorten it if necessary and write out a careful second draft. Sometimes you may need to work out three or even four drafts, but with reasonable care and concentration, you should normally succeed in producing good précis writing by the second draft.

3. Revision

When you have made your second (or final) draft, carefully revise it before writing out the fair copy. Look for any mistakes or slips in grammar or spelling and correct them. Don’t forget to give your précis a title.

Write a précis of the following passage to one-third of its length and also give a suitable title-

Today there are 3000 million people in the world. Fifty years ago only about 2000 million people lived in it. If earth’s population were evenly distributed over its land surface, there would be about 550 persons to the square mile. But Earth has vast areas of forest, mountains and desert which are almost totally inhabited. On the other hand, it has great cities each with millions of people living in a few square miles.

To feed the fast growing population of our earth, scientists and planners have to discover new ways to produce more. One possible way is to bring more land not under cultivation. This can be done only in places where there is lot of land not used for productive purposes. In many places there is no longer possible all the arable land is already cultivated. A second way is to make use of new types of seeds to produce more. Already a number of new strains of paddy and wheat have been developed in different parts f the world. India is one of the countries where a lot of useful work has been done in the field of agriculture research.

Title: World Population and Food Production

Précis: During the last fifty years, the world population has increased from 2000 to 3000 million. It is unevenly distributed with millions of people living in a few big cities. Scientists in India and abroad are, therefore, busy with agriculture research to find out new methods of increased food production to feed them all and they have already developed many new strains of paddy and wheat.

Banking Awareness For SBI PO

Banking Awareness For SBI PO

Dear readers, here we are providing some important Banking news which will be imporntant for upcoming SBI Exam. 

1.    Main Points of RBI monetary policy review:

As on 1 April 2014, RBI (Reserve Bank of India) in its first bimonthly monetary policy statement kept the key policy rate (repo) unchanged.

Current RBI Policy & Reserve Rates:

1. Repo Rate – 8%           (Unchanged)  

2. Reverse Repo– 7%      (Unchanged)

3. CRR – 4%                      (Unchanged)

4. SLR – 23%                     (Unchanged)

5. MSF– 9%                        (Unchanged)

6. Bank Rate – 9%              (Unchanged)

Note: i. Economic growth for 2014-15 expected at 5.5%.

ii. CAD expected to come down to 2% of GDP in 2014-15.

iii. Retail inflation expected to be under 6% in 2014.

iv. RBI asks banks not to charge penalty for failure to maintain minimum balance in inoperative account.

v. It was first bi-monthly monetary policy review, next one scheduled for June 3.

2.     World Bank has projected an economic growth rate of 5.7% in 2014-15 for India:

World Bank projected an acceleration of growth (factor costs) in FY 2014 to 4.8%, further increase to 5.7% in FY 2015

3.    Panel headed by Anand SInha for benchmark floating interest rate

RBI panel headed by RBI Deputy Governor Anand Sinha has recommended bringing a benchmark floating interest rate, especially for home loans. Panel also suggested Indian Banks Base Rate (IBBR).

4.    SBI launches 3 Digital banking facilities for its customers”

i. Tab Banking for Saving A/C - Opening Savings a/c at Customer’s door step using tablet PC provided to the Bank’s Sales Staff (who visit the Customer’s home).

ii. TAB  Banking for Home Loan - In-principle approval for the home loan at customer’s door step using tablet PC provided to the Bank’s Home Loan Sales Team which will capture on the tablet KYC details and details.

iii. e-KYC - Generates e-KYC (Know Your Customer) identity document. Fingerprints of the customer will be captured and sent to UIDAI (Unique Identification Authority of India) for authentication of identity and address proof. On successful authentication from UIDAI, the e-KYC service will act in response to display demographic details like [Name, year/date of birth, Gender, Address, Phone, email (if available)] and photograph.

Note: These facilities will offer ease and time saving to the customer for opening accounts with SBI bank.

5.    RBI grants ‘In-Principle’ banking licenses to IDFC and Bandhan

RBI has granted “in-principle” banking licences to Infrastructure Development Finance Company (IDFC) and microfinance lender Bandhan Financial Services Ltd.

The declaration was made by RBI after nod from the Election Commission.  These are the first licences to be awarded by RBI since 2003-04.

RBI constituted Bimal Jalan panel scrutinized the applications for new bank licences.

Note: The in-principle approval by RBI is valid for ONLY 18 months. 

During this 18 month-period IDFC and Bandhan Financial Services Ltd will have to meet all RBI rules and guidelines in order to secure a permanent licence to start banking activities. 

6.    RBI extends deadline on capital norms under Basel III

RBI extended deadline for banks to implement Basel III capital norms up to March 31, 2019, instead of March 31, 2018. With the extension, the RBI has also revised deadline for for meeting Minimum Common Equity Tier 1 and Capital conservation buffer (CCB).

Note: i. Basel III is a comprehensive set of reform measures, developed by the Basel Committee on Banking Supervision, to strengthen the regulation, supervision and risk management of the banking sector.

ii. In terms of Basel III capital regulations issued by the RBI, the Capital Conservation Buffer (CCB) will be implemented from March-end 2016 (against March-end 2015 earlier). Consequently, the Regulations will be fully implemented as on March-end 2019 (against March-end 2018 earlier).

iii. Basel series of norms refer to a broad supervisory standards formulated by Basel Committee on Banking Supervision (BCBS) to ensure that financial institutions have enough capital on account to meet obligations and absorb unexpected losses.

7.    Kotak Mahindra Bank links current accounts to Twitter

The private lender bank, Kotak Mahindra launched a new current account product that will enable the account holders to undertake 21 services viz. cheque book requisitioning, checking last few transactions, etc, and using their Twitter accounts.

Note: i. For the activity of listed service, the bank customers have to use the dedicated hashtags (#).

ii. The account christened ‘Jifi’, also involves a host of loyalty-based reward points accrued from merchant transactions carried out using the account, referrals made and ‘sharing and commenting’ of tweets/updates.

Note: The bank has integrated all their systems with their core bankingsoftware and can seamlessly throw up the required result into the account holder’s Twitter handle as a direct message.

8.    Bank of India (BoI) launched Instant Money Transfer (IMT) scheme

The Bank of India (BoI) launched an Instant Money Transfer (IMT) scheme and became the first state-run lender to allow withdrawal of funds to individuals from its ATMs without an account in the bank. In other words, the IMT scheme allows customers to withdraw cash without using either debt card or credit card at BoI’s IMT-enabled ATMs.

Chairman and Managing Director of Bank of India is V. R. Iyer.

9.    RBI hiked trade related remittance limit from Rs.2 lakh to Rs.5 lakh per transaction

The Reserve Bank of India (RBI) hiked the trade related remittance limit from Rs.2 lakh to Rs.5 lakh per transaction with immediate effect and also increased the number of transaction handled by exchange houses.

The hike in per transaction is on the review of the permitted transactions under the Rupee Drawing Arrangements (RDAs).These changes have been included in the Memorandum of Instructions for Opening and Maintenance of Rupee/ Foreign Currency Vostro Accounts of Non-resident Exchange Houses.

Note: Vostro account (also known as a loro account) is one in which the domestic bank acts as custodian or manages the account of a foreign counterpart.

10.  Qatar based Doha Bank announced it’s First branch in Mumbai

Doha Bank announced that it will be opening its first branch at Nariman Point in Mumbai in India. The branch in Mumbai will be opened as a full-fledged bank in May 2014.
Note: Doha Bank is the largest private commercial bank in the state of Qatar. It was incorporated in 1978 and commenced its domestic and international banking services in Doha, Qatar in 1979.

11.  Ms Lakshmi Swaminathan : Became first Indian President of Administrative Tribunal of the ADB

Ms. Lakshmi Swaminathan became the first Indian to become president of Administrative Tribunal of the Asian Development Bank (ADB) for three years. Ms. Swaminathan is the seventh president of the Tribunal. At present, she is a member of the Panel of Arbitrators of several public sector undertakings and NSE.

12.  BSE launched Institutional Trading Platform (ITP) on SME

The Bombay Stock Exchange (BSE) launched an Institutional Trading Platform (ITP) to helpSmall and Medium Enterprises (SMEs) and start-up companies to list on the bourses without an Initial Public Offer (IPO). BSE Ltd set up the BSE SME Platform as per the rules and regulations laid down by SEBI.