Clock puzzles

Answer	:	5:19
Explanation	:	Starting with the watch on the left, add 42 minutes to the time shown to give the time on the next watch to the right. Answer : Hand pointing to 5 Explanation : Starting with the top clock and moving anti-clockwise around the others, the hour hand moves back 1 hour, then 2, then 3 etc, while the minute hand moves forward 10 minutes each time. Answer : To the 4 Explanation : Start with the top left clockface, and move around the others in a clockwise direction. The value pointed to by the hour hand equals the value pointed to by the minute hand, subtracting 4 for the first clockface, 5 for the next, then 6 etc.

Logical puzzles

Answer	:	D
Explanation	:	The number of black dots in each grid increases by 1 each time, starting with the top left grid and working to the right, top row then bottom row. Answer : Q Explanation : Adding the three numbers in each square together gives the numerical value of the letter at the centre of each square. Answer : Hammer Explanation : The Hammer = 1, the File = 3 and the Axe = 5

Playing cards puzzles

Answer	:	9 of Clubs
Explanation	:	Taking red cards as positive values and black cards as negative values, in each column of the diagram, the lower card value equals the sum of the two upper card values. The suits are used alternately in each column.

Advanced Algebra

1.Two cyclists start biking from a trail's start 3 hours apart. The second cyclist travels at 10 miles per hour and starts 3 hours after the first cyclist who is traveling at 6 miles per hour. How much time will pass before the second cyclist catches up with the first from the time the second cyclist started biking? 
a)2 hours 
b)4 ½ hours 
c)5 ¾ hours 
d)6 hours 
e)7 ½ hours

2.If the average of three numbers is V. If one of the numbers is Z and another is Y, what is the remaining number? 
a)ZY-V 
b)Z/V − 3 − Y 
c)Z/3 − V-Y 
d)3 V-Z-Y 
e)V-Z-Y

3.Jim can fill a pool carrying bucks of water in 30 minutes. Sue can do the same job in 45 minutes. Tony can do the same job in 1 ½ hours. How quickly can all three fill the pool together? 
a)12 minutes 
b)15 minutes 
c)21 minutes 
d)23 minutes 
e)28 minutes

4.Mary is reviewing her algebra quiz. She has determined that one of her solutions is incorrect. Which one is it? 
a)2 x + 5 (x − 1) = 9 x = 2 
b)P − 3 (P − 5) = 10 p = 2.5 
c)4 y + 3 y = 28 y = 4 
d)5 w + 6 w = 3W = 64 w = 8 
e)t − 2t − 3t = 32 t = 8


5.What simple interest rate will Susan need to secure to make $2, 500 in interest on a $10, 000 principal over 5 years? 
a)4% 
b)5 %
 c)6%
 d)7% 
e)8%

Micro, Small and Medium Enterprises (MSME)

MICRO, SMALL AND MEDIUM ENTERPRISES (MSME)

In accordance with the provision of MSMED Act, 2006, the Micro, small and Medium Enterprise are classified as follow:

1. Manufacturing Enterprises – The enterprise engaged in the manufacturing of goods pertaining to any industry specified in the first schedule to the industries (Development and regulation Act,1951) or employing plant and machinery in the process of value addition to the final product having a distinct name or character or use. The manufacturing Enterprise is defined in terms of investment in Plant & Machinery.

2. Service Enterprises: The enterprise engaged in providing or rendering of services and are defined in terms of investment in equipment.

                                                         Manufacturing Sector

Enterprises	Investment in Plant & Machinery
Micro Enterprises

 Does not exceed 25lakhsSmall Enterprises

Technology Used in ATMs, Debit & Credit Cards

Automated Teller Machine (ATM)

Automated Teller Machine (ATM) is a computerized machine that provides the customers the facility of checking balance, withdrawing and transferring the funds without visiting the branch of the bank

Important Points to Remember:

Technology Used: Broadband Integrated Service Digital network (BISDN)

Operating systems used in ATMs Primarily: Windows XP Professional and Windows XP Embedded

Communication Mode: Both Data and Voice

Operates on: layer 2 in OSI Model (Data Link Layer)

Connection Mode: Point-to-Point

Size of ATM Cells: 53 Bytes (48 bytes of data and 5 bytes of header information)

Facilities available at ATMs

• Account Information
• Cash Deposit
• Regular bills payment
• Purchase of Re-load Vouchers for Mobiles
• Mini/Short Statement
• Loan account enquiry

There are two types of cards supported by ATM

• ATM Debit Card
• Credit Card

ATM Debit Card:

ATM Debit Card is card given by bank to access your account easily using a machine called Automated Teller Machine (ATM). Debit cards can be used for shopping purposes, without carrying the money. You can use Debit cards while purchasing, but you must have money in your account. Purchased amount will be deducted immediately from your account.

Fund Transfer Systems in Banking (RTGS, NEFT and IFSC)

FUND TRANSFER SYSTEMS

There are two ways for transferring funds

• RTGS (Real Time Gross Settlement)
• NEFT (National Electronic Fund Transfer)

Real Time Gross Settlement (RTGS)

• RTGS is one of the fastest mode of fund transfer in India through banking channel
• RTGS is nothing but transferring of money in real time on gross basis from one bank to other without netting. This RTGS is mainly used for large transactions, Minimum amount to be remitted through this RTGS is 2 Lakhs and there is no any upper limit
• Through RTGS system, money will be remitted for beneficiary account within 2 hours of receiving the fund transfer message
• Main  advantage of fund transferring through RTGS is remitting bank will receive the conformation message from RBI that money have been transferred to beneficiary’s account

Timings for Transferring Funds through RTGS:

Normal Days: 09:00 hours to 16:30 hours

Week Days: 09:00 hours to 14:00 hours

Processing/Service Charges for RTGS Fund Transfer

Inward Transactions: No Charge

Outward Transactions: Rs.2lakhs to Rs.5lakhs:  Rs.30/-

Above Rs.5lakhs: Rs.55/-

Essential Information for RTGS Fund Transfer

• Amount to be remitted
• Remitting Customer’s account number which is to be debited
• Name of the beneficiary bank and branch
•  Name of the beneficiary customer
•  Account number of the beneficiary customer
• Sender to receiver information
• IFSC (Indian Financial System Code) of the receiving branch

National Electronic Fund Transfer (NEFT)

NEFT is an electronic fund transfer system on DNS (Deferred Net Settlement) basis through netting. This NEFT will be done in 12 settlements

Timings for Transferring Funds through NEFT:

Normal Days: 08:00 am to 07:00 pm

Week Days: 08:00 am to 01:00 pm

Financial and Banking Sector Reforms in India

Objectives of Financial sector reforms in India.

1. Reforms Financial repression that existed earlier

2. Create an efficient productive and profitable Financial sector industry

3. Enable price discovery particularly by the market determination of interest rates that then helps in efficient allocation of resources

4. Provide operational and function autonomy to institutions

5. Prepare the Financial system for increasing international Competition

6. Open the external sector in a calibrated fashion

Narasimham committee report 1991 &1998

The narasimham committee was set up in order to study the problems of the indian Financial system and to suggest some recommendations for improvement in the efficiency and productivity of the Financial institution

The committee had given the following major recommendations:

1. Reduction in SLR and CRR : The committee recommeded the Reduction of the higher proportion of the statutory liquidity ratio and cash reserve ratio . Both of these ratios were very high at that time. The SLR the was 38.5 percent and crr was 15 percent . This high percentage of SLR and CRR meant locking the bank resources for govt uses. SLR was recommeded to be from 38.5 to 25 percent and CRR from 15 percent and 3.5 percent

2. Phasing out of directed Credit programme : in india since Nationalization directed Credit programmes were adopted by the Government . The committee recommed Phasing out of this programme.  This programme compelled banks to earmark their Financial resources for the needy and poor sectors at concessional rates of interest

3. Interest rate determintaion: The committee felt that the interest rates in india were regulated and controlled by the authorities . The committee recommeded eliminating Government controls on interest rates and Phasing out the concessional interest rates for the priority sector.

4. Structural re organizations of the banking sector: The committee recommeded that the actual number of public sector banks need to be reduced. Three to four large banks including SBI should be developed as international banks. Eight to ten banks having nationwide presence should concerntrate in the National and unverisal banking services.

Local banks should concerntrate on region specific banking . Regarding RRBs it recommeded that they should focus on agr culture and rural financing

5. Establishment of the ARF and tribunal: The proporation of bad debts and non performing assets of the public banks and Development Financial institute was veey alarming in those days. The committee recommeded the Establishment of an assets reconstruction fund . This fund would take over the proporation of the bad and doubt ful debts from the banks and Financial institutes. It would help banks to get rid of bed debts.

6. Removal of dual control : The committee recommeded the stopping of this system.  it considered and recommeded that the RBI should be the only main agency to regulate banking in india

 7. Banking autonomy : The committee recommeded that the public sector banks should be free and autonomous. Banking technology upgradation would thus be easy.