MANTRA FOR SUCCESS:
BESIDES READING CONTENT OF THIS POST,VISIT 137 PREVIOUS POST ON THIS SUBJECT ALSO AND LEARN /READ INFORMATION GIVEN THERE. THIS WILL HELP YOU IMMENSELY IN PRELIMINARY AS WELL AS MAIN EXAMS.
Q:What is escrow account .
A:An escrow account is a temporary pass through account held by a third party during the process of a transaction between two parties.
Definition: An escrow account is a temporary pass through account held by a third party during the process of a transaction between two parties. This is a temporary account as it operates until the completion of a transaction process, which is implemented after all the conditions between the buyer and the seller are settled.
Description: In real estate, the fund flows for the development of the project from any source is kept in the escrow account and the funds utilised for the same are also generated from the escrow account. Even the buyers of the housing units in a project transfer the home price to the escrow account and the amount is not transferred to the seller until the project is completed.
Sometimes the construction linked payments are disbursed to the seller from the escrow account so that the builder has sufficient funds for completion of the project. Sellers also benefit from the prioritization mechanism, also called waterfall mechanism, wherein the priority based payments are made to the concerned parties.
Q:What is LETTERS OF CONTINUITY.
A:Letters of continuity must be obtained in addition to the Demand Promissory Note where the advance is likely to fluctuate or adjusted or revived.
The signatures should be obtained in the same fashion as on the Demand Promissory Note. It requires to be stamped like any other agreement. It is not necessary to take letter of Continuity where the advance is given by way of loans.
Q: What are ROI of various schemes Of Post Office and Govt schemes.
A: ROI given below:
Savings Deposit: 4% from 01 April 2016 (4% from 01 April 2015)
1 Year Time Deposit: 7.1% (8.4%)
2 Year Time Deposit: 7.2% (8.4%)
3 Year Time Deposit: 7.4% (8.4%)
5 Year Time Deposit: 7.9% (8.5%)
5 Year Recurring Deposit: 7.4% (8.4%)
5 Year SCSS: 8.6% (9.3%)
5 Year MIS: 7.8% (8.4%)
5 Year NSC: 8.1% (8.5%)
PPF: 8.1% (8.7%)
Kisan Vikas Patra: 7.85% (8.67%)
Sukanya Samriddhi Scheme: 8.6% (9.2%).
Q:Who is Indemnifier.
A: When a person indemnifies or guarantees to make good any loss caused to the lender from his actions or others' actions.
Q:What is Forfaiting
A: In International Trade when an exporter finds it difficult to realize money from the importer, he sells the right to receive money at a discount to a forfaiter, who undertakes inherent political and commercial risks to finance the exporter, of course with assumption of a profit in the venture.
A:An escrow account is a temporary pass through account held by a third party during the process of a transaction between two parties.
Definition: An escrow account is a temporary pass through account held by a third party during the process of a transaction between two parties. This is a temporary account as it operates until the completion of a transaction process, which is implemented after all the conditions between the buyer and the seller are settled.
Description: In real estate, the fund flows for the development of the project from any source is kept in the escrow account and the funds utilised for the same are also generated from the escrow account. Even the buyers of the housing units in a project transfer the home price to the escrow account and the amount is not transferred to the seller until the project is completed.
Sometimes the construction linked payments are disbursed to the seller from the escrow account so that the builder has sufficient funds for completion of the project. Sellers also benefit from the prioritization mechanism, also called waterfall mechanism, wherein the priority based payments are made to the concerned parties.
Q:What is LETTERS OF CONTINUITY.
A:Letters of continuity must be obtained in addition to the Demand Promissory Note where the advance is likely to fluctuate or adjusted or revived.
The signatures should be obtained in the same fashion as on the Demand Promissory Note. It requires to be stamped like any other agreement. It is not necessary to take letter of Continuity where the advance is given by way of loans.
Q: What are ROI of various schemes Of Post Office and Govt schemes.
A: ROI given below:
Savings Deposit: 4% from 01 April 2016 (4% from 01 April 2015)
1 Year Time Deposit: 7.1% (8.4%)
2 Year Time Deposit: 7.2% (8.4%)
3 Year Time Deposit: 7.4% (8.4%)
5 Year Time Deposit: 7.9% (8.5%)
5 Year Recurring Deposit: 7.4% (8.4%)
5 Year SCSS: 8.6% (9.3%)
5 Year MIS: 7.8% (8.4%)
5 Year NSC: 8.1% (8.5%)
PPF: 8.1% (8.7%)
Kisan Vikas Patra: 7.85% (8.67%)
Sukanya Samriddhi Scheme: 8.6% (9.2%).
Q:Who is Indemnifier.
A: When a person indemnifies or guarantees to make good any loss caused to the lender from his actions or others' actions.
Q:What is Forfaiting
A: In International Trade when an exporter finds it difficult to realize money from the importer, he sells the right to receive money at a discount to a forfaiter, who undertakes inherent political and commercial risks to finance the exporter, of course with assumption of a profit in the venture.
For written exam/ interview guidance , you may contact:
ANIL AGGARWAL SIR ( P.O. 1982 BATCH)
EX CHIEF MANGER ,PUNJAB NATIONAL BANK.
Mobile: +91 9811340788
E-mail ID: anilakshita@yahoo.co.in
Office: Flat #49, Trilok Apartments, Patparganj, I.P. Extension, Delhi-110092.
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Website: http://bankinterview.in/
KNOW ABOUT MR ANIL AGGARWAL ( P.O. 1982 BATCH):
UNDER ABLE GUIDANCE OF MR ANIL AGGARWAL(09811340788), HUNDREDS OF CANDIDATES ARE
ABLE TO GET BANK JOB IN LAST 4 YEARS.
HE IS GUIDING CANDIDATES/ASPIRANTS SINCE DEC 2012. A WELL KNOWN NAME
AMONG ASPIRANTS.
PRESENT:
GUEST FACILITY MEMBER TO VARIOUS BANK TRAINING COLLEGES AND MANAGEMENT INSTITUTES.
PROVING GUIDANCE FOR BANK INTERVIEWS (SBI/SBI GROUP/IBPS/RRB/PVT SECTOR BANKS/FOR P.O./CLERK/ASSISTANT/TECHNICAL OFFICER/ I.T/HRD OFFICER )
PAST:
HE JOINED PUNJAB NATIONAL BANK AS MANAGEMENT TRAINEE ( P.O.) IN 1982.HEWAS ALSO SELECTED AS P.O. IN STATE BANK OF INDIA,BANK OF BARODA AND UNITED BANK OF INDIA IN 1983, BUT CONTINUED WITH PNB.
HE REACHED THE POSITION OF CHIEF MANAGER IN 2005. HE GOT ALL PROMOTIONS UP TO THIS RANK IN ONE GO.
HE SCORED HIGHEST MARKS IN WRITTEN EXAM OF PROMOTION FROM OFFICER CADRE TO MANGER CADRE IN 1991. HIS SCORE REMAINED UNBROKEN RECORD FOR MANY YEARS
HE RESIGNED FROM THE BANK IN 2012 AFTER SERVING 30 YEARS IN VARIOUS CAPACITIES IN PUNJAB NATIONAL BANK.
HE HAS RICH BANKING EXPERIENCE.
HE WAS MEMBER OF VARIOUS INTERVIEW BOARDS MEANT FOR INTERNAL PROMOTIONS.
HE WAS ONE OF THE MOST RENOWNED FACULTY MEMBER OF PUNJAB NATIONAL BANK DURING 1986 TO 1991.
FOR, INDIAN INSTITUTE OF BANKERS, DELHI CHAPTER, HE CONDUCTED CLASSES OF BANKING LAW AND PRACTICE PART TWO OF CAIIB DURING 1988 to 1997.
HE WAS AWARDED BY VARIOUS INSTITUTIONS WE LIST A FEW:
*BEST FACULTY MEMBER AWARD BY BANKER'S TRAINING COLLEGE , RBI- 1986
*BEST FACULTY MEMBER AWARD BY BANKER'S TRAINING COLLEGE , RBI- 1986
*BEST BRANCH MANAGER AWARD BY PUNJAB NATIONAL BANK -1991
*BEST BRANCH MANAGER AWARD BY PUNJAB NATIONAL BANK - 2007
*BEST CHIEF MANAGER MARKETING IN PUNJAB NATIONAL BANK -2007 ,2008,2009 AND 2010.
ACADEMIC & PROFESSIONAL QUALIFICATION
M.Sc Physics
CAIIB FROM INDIAN INSTITUTE OF BANKERS
POST DIPLOMA IN BUSINESS MANAGEMENT FROM THE INSTITUTE OF CHARTERED FINANCIAL ANALYSTS OF INDIA
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