gist for cst 9-12-2012
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hello sir,
i am attaching gist of todays cst session with this mail (i.e on 9-12-2012)
thank you
i am attaching gist of todays cst session with this mail (i.e on 9-12-2012)
thank you
 |
Human development index
§ Created by :mahabub ul haq(pakistan)
o Followed by amratya sen(india)
o Statistics of the factors which leads to
development.
§ Example:
o If u want to buy a tablet. Either apple ipad or
Samsung note
What will u do? Search
for specifications like: RAM, speed, display, memory, resolutions etc. all
these are different from one another if we consider it as individuals. But if
we combine and validate we can choose, which tablet is best one.
o Similarly if u compares two countries and say which
one is developed? How will u do that?
There HDI plays an
important role. Each and every country has their own HDI based on their own
factors. It may be health, education, life expectancy, PPP (purchasing power
parity).
v Remember these factors may or may not be same for
all countries.
What is PPP?
Minimum capacity of
purchasing essential goods required. This goods listed will be made by govt and
agencies to calculate HDI.
o Remember the questionnaire we will fill in surveys.
§ Example: NSSO
survey, census.
Based on the obtained
answers, Calculations will be done. Recall the statistics we learnt earlier classes
same methods. There will be different co-efficient for each weighted sum. These
co-efficient are different.
Now HDI of country is done. Another country’s HDI will be calculated with
different factors i.e., there co-efficient will be different. Then how to
compare?
For comparison there
coefficients will be equalized by some adjustments. This is called Inequality Adjustements in HDI.
From 2011 inwards three
factors are introduced in HDI calculation.
o Life expectancy at birth
o Education index
o PPP (purchasing power parity)
Some other indexes are
multi dimensional poverty index, gender
inequality index
Ø What is per capita income?
o Capita means life. i.e single
o Per + capita+ income = income for each individual.
Ø GDP,NDP.GNP.NNP
Consider kiran started
a company abc. Invested amount in it. He bought an office, new building. Machinery bought for production. Goods
produced and sold. He started a branch office
xyz in America and sold goods also there.
Case1: while
calculating GDP
Income earned in india from abc company is
only calculated
Case 2: while
calculating NDP
Next year again calculation starts. Last year
income calculated even considering the machineries. So will it be calculated
this year also? There the depreciation
values should be removed.
NDP = GDP – depreciation
Case 3: while
calculating GNP
Here income of both abc company and xyz
(abroad branch) company will be calculated.
Case 4: while
calculating NNP
Same as NDP calculation
NNP = GNP - depreciation
v All in the above cases country’s capital goods are
to be considered.
Q) Obama’s new tax
making policy: rich people have to pay more taxes. Can it be implemented in India?
Previously US govt supports rich people. As there economy
is a capitalistic economy. but now it tend to change from it. In Indian govt
has service motto. Where all the people (rich and poor) should be benefitted.
Q) Why railway has
different budget from annual budget?
When it is first started by
British it is under delegation of powers. This is considered as separate
department and probably largest dept to maintain.
Moreover after independence when
railways were taken from british . we have took assistance from them to
maintain it. So we need to provide pension for them. Which will not be govt
purpose.
Q) why govt withdraw
pension scheme in 2010?
In the intial days of govt establishment
after independence , it is the govt duty to look after its employees. So they
introduced pension schemes but now a days many banks and agency started this
scheme.
Q) if india has to take
grants from other countries (imf) why it is giving to other countries in bi
lateral relations (afghanistan)?
To make self reliant we are marketing our
natural resource in the internation marker and
earning money. Why we are giving money is to maintain relationship with
those countries. We are providing aid to
those countries to access that market and also maintain relations and international
friendships.
Example:
providing educational aid to Afghanistan means helping to construct
universities and providing employment for our teacher there to teach them. So relation between afghan and
india also increases.
Ø Cost and price are different.
o Cost of good at shop = cost of good at place it
produced + transportation cost.
Ø Chairman for (IMG)Inter ministerial Group Inflation
will be chairman of PM advisory council.
o In India : MS Swaminathan
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Cheque Truncation
System (CTS-2010): Meaning, Advantages explained
What is cheque clearing house?
What is MICR code?
What is Cheque Truncation System (CTS)?
What are the benefits of Cheque Truncation?
CTS-2010
What is
cheque clearing house?
Suppose a party from Delhi pays you via
cheque of Citibank and you have account in SBI, Ahmedabad. You deposit this
cheque in your area’s SBI branch.
Now the SBI branch manager would send his
[overworked, underpaid] Bank PO to Citibank’s office in A’bad. He’d show the
cheque, collect the cash and return to deposit the money in your account.
But SBI would be getting thosands of
cheques everyday- some from ICICI, some from Citibank, some from axis and so
on. SBI cannot send its staff to every other bank to get the cash, that’d be
extremely time consuming.
Therefore To simplify this cheque
transection process, each bank will send a representative to a central place
and exchange cheques drawn on each other.
This centralized place is called clearing
house/processing house.
Reserve bank of India is act as clearing
house.
In cities where RBI’s office doesnot exist,
usually SBI or other public sector bank acts as the clearing house.
What is
MICR code?
By seeing the PIN code, a postman can know
the destination of an envelope. Same way by using the MICR code, RBI (clearing
house) can know the name of a bank, location of its branch from where the
cheque was issued= faster clearing of cheques.
MICR = Magnetic ink character recognition.
At the bottom of every cheque, you’d see
some black colored numbers with weird looking fonts. That is the MICR code.
These numbers are printed with a special
ink containing iron oxide, so that it
can be automatically read by a special machine.
Ofcourse this sounds similar to bar codes,
but there is a difference: unlike barcode, you can read the MICR code and
decode it, without the use of special machines.
What is
Cheque Truncation System (CTS)?
Under the old paper cheque based clearing,
the SBI bank will send the paper cheque to the clearing house and get the money
and then transfer it to your account.
This is still time consuming. because SBI
(or any bank) would need to physically move the cheques to a clearing house.
So RBI came up with a new idea known as
‘Cheque Truncation System (CTS)’.
In this Cheque Truncation System (CTS), SBI
branch will not send the paper cheque to the clearing house, but instead, it’d
merely scan the cheque, and electronically send the image + MICR data, to the
clearing house.
From the clearing house, the data would
goto the paying bank (Citibank in our example), they will inspect the MICR
data, signature on the scanned image and release the money to SBI.
This process is faster and more safer than
the conventional paper-cheque clearing method.
What are
the benefits of Cheque Truncation?
It Eliminates the time, money and manpower
wasted during physical movement of cheques (from banks to clearing house).
Thus, Cheque Truncation =faster clearing =
better service to customers,
Cheque Truncation system reduces the scope
for clearing-related frauds
There is no fear of losing cheque in
transit.
CTS-2010
In the year 2010, RBI came up with the
guidelines for Cheque Truncation system. (CTS 2010)
The banks would need to upgrade a few
things to comply with CTS 2010 standards of RBI.
For example, in their branch offices, they
would need to buy scanners and install special software provided by RBI, to
securely transfer and receive the scanned image and data.
They may need to change the color-scheme of
chequebooks so that signature and handwriting is visible in the scanned image.
And so on…
Problem: some jholachhaap banks, are yet to
comply with RBI’s CTS 2010 guidelines.
Hence recently RBI issued a warning to all
banks:
HARI KIRAN
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