Promotion Calendar 2017 For Bank of Baroda Employee

Bank of Bank Announce the Promotion Calendar for the Year 2017 with the Tentative date of written test , Interveiw / GD and tentative of Result

PROMOTION CALENDAR

Plan of Activity – Promotion Exercise	Tentative Schedule		Tentative date of Declaration of Results
	Written Test	GD &/ Interview
From Clerical to Officer’s cadre in JMG/S-I	8th January, 2017	1st week of February, 2017	01st April, 2017
From JMG/S-I – MMG/S-II	15th January, 2017	2nd week of Feb, 2017	01st April, 2017
From MMG/S-II – MMG/S-III	15th January, 2017	2nd week of Feb, 2017	01st April, 2017
From MMG/S-III – SMG/S-IV	--	4th  week of Feb, 2017	01st April, 2017
From DGM to GM	--	Between 1st – 5th April 2017 (Any one day)	Same day of the interview
From AGM to DGM	--	Between 7th – 10th April, 2017 ( Any one day)	By 12th April, 2017
From CM to AGM	--	Between 15th – 25th April, 2017	By 30th April, 2017

For the Promotion Exercise being held in January-February, 2017, the business figures for December, 2016 for the respective Branch / Units shall be reckoned for evaluating the Business Performance.

 Wish you Best of Luck...!!!

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Exchange Rate Mechanism

There is two type of Exchange Rate Mechanism:

A. Direct quotation

B. Indirect quotation

a. Direct quotations:

Under a system of Direct Quotations, the exchange rates are quoted where the unit(s) of

Foreign currency remains constant, whereas the home currency units fluctuates : i.e.

USD 1 = Rs. 66.65

b. Indirect Quotations:

Under a system of Indirect Quotations, the exchange rates are quoted where the unit(s) of

home currency remains constant against variable units of foreign currency. i.e.

Rs. 100/- = USD 1.52

In India we follow the direct method of quoting exchange rates since August 1993.

Types of Rates:

(i) Cash / Ready:

When the deal is entered into and its settlement is done on the very same day then it is known as Cash / Ready Rate.(T + 0)

(II) TOM:

When the deal is entered into but the settlement is done on the next working day then it is known as TOM.(T + 1)

(iii) Spot Rate :

Where the settlement is to take place after two working days from the date of contract. It is termed as "SPOT RATE." (T + 2)

(iv) FORWARD RATES:

All exchange rates quoted, where the settlement is to take place after the spot rate are termed as "FORWARD RATES" (T + > 2).

Forward Rates are generally quoted as a margin against the spot rate for currency concerned. The margin may represent either "PREMIUM" or "DISCOUNT". There is a facility of settlement of forward contract either on a fixed date or with an option of settlement within a period agreed which can be maximum one months period.

Premium:

Premium is a value of exchange in excess of spot rate. In relation to forward exchange rate, it means that the currency is dearer for future delivery than for the spot delivery i.e. currency is dearer for forward purchase than the spot purchase.

Discount:

Discount is a value of exchange below spot rate. In relation to forward exchange rate, it means that the currency is cheaper for future delivery than for the spot delivery i.e. cheaper for forward purchase than the spot purchase.

LIBOR (London Inter-Bank Offered Rate):

LIBOR is a daily reference rate based on the interest rates at which banks offer to lend funds to other banks in the London inter-bank market. LIBOR is published by the British Bankers Association (BBA) at 11:00 A.M London time , every day, and is a filtered average of interbank deposit rates offered by designated contributor banks, for maturities ranging from overnight to one year.

SWIFT:

Society for Worldwide Interbank Financial Telecommunication is a co operative society created under Belgian law and having its corporate office at Brussels. It operates computer – guided communication system for transmission of international payment transfers messages in a secured system driven environment. Only authorized officials can access and decode the data / information / message

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AML - Anti Money Laundering

It is conversion of money, which is illegally obtained, so as to make it appear to originate from a
legitimate source. The main objective of the Act is:
1. To prevent, combat and control money laundering.
2. To confiscate and seize the property obtained from the laundered money.
3. To deal with any other issue connected with money laundering in India.

There are three independent steps or stages in Money Laundering -- Placement, Layering and
Integration

A) Placement - physical disposal of bulk cash proceeds derived from illegal activity

B) Layering - process of separation of illicit proceeds from their source by creating complex layers of financial transactions it conceals the audit trail.

C) Integration– re-injection of laundered proceeds back to the economy

Punishment:

Whoever commits the offence of money laundering shall be punished with the rigorous
punishment for a term not less than 3 years but which may extend to 7 yrs and shall also
liable to fine, which may extend to Rs.5 lacs.

Revised policy on KYC/AML/PMLA policy Norms for furnishing proof of address have been relaxed to allow submitting only one documentary proof of address ( either current or permanent) while opening a Bank account or while undergoing periodic updation. In case the proof of address where the customer is currently residing , the bank may take a declaration of the local address. No proof is required to be submitted for such address for correspondence/ local address.

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Credit Information Bureau (India) Limited – (CIBIL)

1. Credit Information Bureau (I) Ltd was set -up in January 2001, as a joint venture.

2. CIBIL is a composite Credit Bureau, which caters to both commercial and consumer segments. The Consumer Credit Bureau covers credit availed by individuals while the Commercial Credit Bureau covers credit availed by non-individuals such as partnership firms, proprietary concerns, private and public limited companies, etc.

3. CIBIL is established with a primary purpose of information sharing between Banks and Financial
Institutions for curbing the undesired growth of NPA.

4. Banks are required to provide periodical information to CIBIL in the prescribed format. It helps in
compilation of credit information, accessible to member banks to improve quality of credit proposals,
better credit management and Credit dissemination function

5. Banks, FIs, SFCs, NBFCs, Housing Finance Companies and Credit Card Companies are Members of CIBIL

6. CIBIL- Access to consumer credit information:

Branches will get data of existing standard Home Loan borrowers who have approached other Banks
for Home Loan, Personal Loan Auto Loan, Education Loan, Business Loan, Property Loan, Over Draft and Commercial Vehicle. In case of NPA Home Loan borrowers Branches will get information on enquires with other Banks for all type of loans.

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ASBA (Application Supported by Blocked Amount)

ASBA is a process developed by the Securities and Exchange Board of India (SEBI) for applying to IPO. In ASBA, an IPO applicant's account doesn't get debited until shares are allotted. Qualified Institutional Buyers (QIBs) are not allowed to participate in IPOs through ASBA facility.

ASBA process facilitates retail individual investors bidding at cut-off, with single option, to apply through Self Certified Syndicate Banks (SCSBs), in which the investors have bank accounts. SCSBs are those banks which satisfy the conditions laid by SEBI. SCSBs would accept the applications, verify the application, block the fund to the extent of bid payment amount, upload the details in the web based bidding system of NSE, unblock once basis of allotment is finalized and transfer the amount for allotted shares, to the issuer.

ASBA means “Application Supported by Blocked Amount”. ASBA is an application containing an authorisation to block the application money in the bank account, for subscribing to an issue. If an investor is applying through ASBA, his application money shall be debited from the bank account only if his/her application is selected for allotment after the basis of allotment is finalized, or the issue is withdrawn / failed.

It is a supplementary process of applying in Initial Public Offers (IPO), right issues and Follow on public offers (FPO) made through book building route and co-exists with the current process of using cheque as a mode of payment and submitting applications.

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