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UP BEd Joint Entrance Exam Solved Question paper 2010

Uttar Pradesh B.Ed. Joint Entrance Exam. 2010
Solved Paper : General Knowledge :: English Language :: Efficiency Test
Efficiency Test
Directions—(Q. 1–5) Select the related letter/word/number/figure from the given alternatives.
1. Book : Publisher :: Film : ?
(A) Writer
(B) Editor
(C) Director
(D) Producer
Ans : (D)
2. Menu : Food :: Catalogue : ?
(A) Books
(B) Library
(C) Newspaper
(D) Rack
Ans : (A)
3. FILM : ADGH :: MILK : ?
(A) ADGF
(B) HDGE
(C) HDGF
(D) HEGF
Ans : (C)
4. BJNT : CIOS :: DHPV : ?
(A) EGQU
(B) EIQW
(C) ELPV
(D) EIOU
Ans : (A)
5. KIJM : QOPS :: MKLO : ?
(A) LMOR
(B) OMNS
(C) KMOQ
(D) OMNQ
Ans : (D)
6. If DELHI is coded as 73541 and CALCUTTA as 82589662, how can CALICUT be coded ?
(A) 5279431
(B) 5978213
(C) 8251896
(D) 8543691
Ans : (C)
7. If in a code language PRINCIPAL is written as MBOQSOMVW and TEACHER is written as FDVSZDB, how is CAPITAL written in that code ?
(A) SVMOFVW
(B) SVMODVW
(C) BVMODVW
(D) SVMIDVW
Ans : (A)
8. A statement followed by two assumptions I and II is given. You have to consider the statement to be true even if it seems to be at variance from commonly known facts. You are to decide which of the given assumptions can definitely be drawn from the given statement. Indicate which one of the four given alternatives is correct ?
Statement : If more encouragement is given to Sports, Indians will win more gold medals at the Olympic Games.
Assumptions : I. Indians do not win gold medals.
II. More encouragement in Sports leads to better performance.
(A) Only I is valid
(B) Only II is valid
(C) Both assumptions are valid
(D) Both assumptions are invalid
Ans : (B)
9. Two statements are given followed by two conclusions I and II. You have to consider the two statements to be true even if they seem to be at variance from commonly known facts. You have to decide which one of the given conclusions is definitely drawn from the given statements.
Statement : All virtuous persons are happy.
No unhappy person is virtuous.
Conclusions : I. Happiness is related to virtue
II. Unhappy person is not virtuous.
(A) Only I follows
(B) Only II follows
(C) Neither I nor II follows
(D) Both I and II follow
Ans : (D)
10. Rahim travelled straight from point E to F at a distance of 5 km. From F he turned left and travelled 6 km and reached point G, there he took a left turn and travelled 5 km to reach point H. He took another left turn and travelled 2 km and reached point I. How far is he from the starting point ?
(A) 3 km
(B) 4 km
(C) 5 km
(D) 7 km
Ans : (B)
11. A man is facing East, then the turns left and goes 10 m, then turns right and goes 5 m, then goes 5 m to the South and from there 5 m to West. In which direction is he, from his original place ?
(A) East
(B) West
(C) North
(D) South
Ans : (C)
Directions—(Q. 12–17) Find the odd word/letters/number/figure from the given responses.
12. (A) Newspaper
(B) Press
(C) Edition
(D) Audition
Ans : (D)
13. (A) Microbe
(B) Microfilm
(C) Microphone
(D) Microscope
Ans : (A)
14. (A) PRSQ
(B) UWXV
(C) LONM
(D) CEFD
Ans : (C)
15. (A) YXVU
(B) ORQP
(C) KJHG
(D) MLJI
Ans : (B)
16. (A) 43
(B) 53
(C) 63
(D) 73
Ans : (C)
17. (A) 21, 42
(B) 24, 48
(C) 37, 74
(D) 35, 28
Ans : (D)
18. In a coding system PEN is written as NZO and BARK as CTSL. How can we write PRANK in that coding system ?
(A) NZTOL
(B) CSTZN
(C) NSTOL
(D) NTSLO
Ans : (C)
19. If BROTHER is coded as 2456784 SISTER is coded as 919684, What is the code for ROBBERS … ? …
(A) 18, 15, 22, 5, 18, 19
(B) 4562, 684
(C) 9245, 784
(D) 4522849
Ans : (D)
20. A word given in Capital Letters is followed by four answer words. Out of these only one can be formed by using the letters of the given words. Find out that word—
ENVIRONMENT
(A) EMINENT
(B) ENTRANCE
(C) ENTERTAIN
(D) MOVEMENT
Ans : (A)
21. A word is given in capital letters. It is followed by four words. Out of these four words, three cannot be formed from the letters of the word in capital letters. Point out the word which can be formed from the letters of the given word in capital letters—
ARCHITECTURE
(A) LECTURE
(B) UREA
(C) CHILDREN
(D) TENT
Ans : (B)
22. A word given in capital letters is followed by four words. Out of these only one cannot be formed by using the letters of the given word. Find out that word—
REVOLUTIONARY
(A) REVOLT
(B) TRAIL
(C) VOCATION
(D) VOLUNTARY
Ans : (C)
23. Giridharlal’s family consists of his wife Radha. 3 sons and 2 daughters. One daughter is yet to be married and the other daughter has a son. Two sons have 2 children each and the third son has 3 children. An old aunt and sonin-law also stay with them. How many members are there in Giridharlal’s family ?
(A) 20
(B) 19
(C) 18
(D) 17
Ans : (A)
24. A family went out for a walk. Daughter walked before the father. Son was walking behind the mother and ahead of father. Who walked last ?
(A) Son
(B) Father
(C) Mother
(D) Daughter
Ans : (B)
25. Seema is the daughter-in-law of Sudhir and sister-in-law of Ramesh. Mohan is the son of Sudhir and only brother of Ramesh. Find the relation between Seema and Mohan—
(A) Sister-in-law
(B) Aunt
(C) Cousin
(D) Wife
Ans : (D)
Directions—(Q. 26–32) Select the related letters/word/number/figure from the given alternatives—
26. Orange : Peel : : Nut : … ? …
(A) Pulp
(B) Shell
(C) Kernel
(D) Rind
Ans : (B)
27. Foundation : Edifice : : Constitution : … ? …
(A) Government
(B) State
(C) Nation
(D) Cabinet
Ans : (A)
28. Plat : Botany : : Man : … ? …
(A) Ecology
(B) Psychology
(C) Anthropology
(D) Sociology
Ans : (C)
29. GIKM : TRPN : : JLNP : … ? …
(A) QOMN
(B) WUSQ
(C) PRTV
(D) TVXZ
Ans : (B)
30. ACAZX : DFDWU : : GIGTR : … ? …
(A) JKJQO
(B) JLJQO
(C) JKJOQ
(D) JLJOP
Ans : (B)
31. 63 : 80 : : 120 : … ? …
(A) 125
(B) 143
(C) 170
(D) 180
Ans : (B)
32. 7 : 49 : 56 : : 14 : 196 : 210 : : … ? …
(A) 9 : 81 : 91
(B) 12 : 140 : 156
(C) 21 : 441 : 462
(D) 21 : 440 : 461
Ans : (C)
Directions—(Q. 33–39) Select the related letters/word/number/figure from the given alternatives—
33. (A) Square
(B) Circle
(C) Rectangle
(D) Triangle
Ans : (B)
34. (A) Temple
(B) Mosque
(C) Theatre
(D) Church
Ans : (C)
35. (A) Sweet
(B) Bitter
(C) Salty
(D) Tasteless
Ans : (D)
36. (A) ZMYL
(B) VIUH
(C) REQD
(D) ANBO
Ans : (D)
37. (A) LJNP
(B) ECGI
(C) CAFG
(D) SQUW
Ans : (C)
38. (A) 16—64
(B) 17—68
(C) 20—100
(D) 21—84
Ans : (C)
39. (A) 63
(B) 126
(C) 215
(D) 342
Ans : (B)
40. Which one of the given responses would be a meaningful order of the following—
1. Seed 2. Flower
3. Soil 4. Plant
5. Fruit
(A) 4, 2, 5, 1, 3
(B) 2, 5, 4, 1, 3
(C) 3, 2, 1, 5, 4
(D) 3, 1, 4, 2, 5
Ans : (D)
41. Arrange the following words according to the dictionary—
1. Scenery 2. Science
3. Scandal 4. School
5. Scatter
(A) 3, 5, 1, 4, 2
(B) 3, 5, 4, 1, 2
(C) 5, 3, 4, 2, 1
(D) 5, 3, 2, 1, 4
Ans : (A)
42. A statement followed by two assumptions I and II is given. You have to consider the statement to be true even if it seems to be at variance from commonly known facts. You are to decide which of the given assumptions are implicit in the given statement. Indicate which one of the four given alternatives is correct ?
Statement : All children like icecream and some children like chocolates.
Assumptions : I. Children who like chocolates also like icecream.
II. Pinky does not like
chocolates but she likes ice-cream.
(A) Only assumption I is implicit
(B) Only assumption II is implicit
(C) Both assumptions I and II are is implicit
(D) Neither assumption I nor II is implicit
Ans : (C)
Directions—(Q. 43–44) If you start running from a point towards. North and after covering 4 km you turn to your left and run 5 km, and then again turn to your left and run 5 km, and then turn to your left again and run another 6 km, and before finishing you take another left turn and run I km, then answer questions 43 and 44 based on this information—
43. How many km are you from the place you started ?
(A) 1 km
(B) 2 km
(C) 3 km
(D) 4 km
Ans : (A)
44. In which direction will you be moving while finishing ?
(A) East
(B) West
(C) North
(D) South
Ans : (C)
45. In a certain code the following numbers are coded in a certain way by assigning sings—
1 2 3 4 5 6 7 8 9
???+??÷.-
Which number can be decoded from the following ?
??-??
(A) 62953
(B) 62935
(C) 62593
(D) 62539
Ans : (B)
46. If UNITY is written as FMRGB in a certain code, how would TRANQUIL be written using the same code ?
(A) GIZMJFRO
(B) TZMFJROM
(C) MJROIZBS
(D) GMPFZROI
Ans : (A)
47. A word given in capital letters is followed by four words. Out of these only one cannot be formed by using the letters of the given word. Find out that word—
EXEMPLIFICATION
(A) FIXATION
(B) EXAMPLE
(C) AXE
(D) EXTRA
Ans : (D)
48. A word is given in capital letters. It is followed by four words. Out of these four words, three cannot be formed from the letters of the word in capital letters. Point out the word which can be formed from the letters of the given word in capital letters—
COMMISSION
(A) OSMOSIS
(B) CONICS
(C) MOAN
(D) COMMON
Ans : (D)
49. In a cricket match, five batsman, A, B, C, D and E scored an average of 36 runs. D scored five more than E; E scored 8 fewer than A; B scored as many as D and E combined; and B and C scored 107 between them. How many runs did E score ?
(A) 62
(B) 45
(C) 28
(D) 20
Ans : (D)
50. The average age of 50 students of a class is 16 years. When 10 new students are admitted, then the average age increased by 0.5 years. The average age of the new students is—
(A) 17 years
(B) 18 years
(C) 19 years
(D) 20 years
Ans : (C)
51. Which of the following is not instructional material ?
(A) Over Head Projector
(B) Audio Casset
(C) Printed Material
(D) Transparency
Ans : (A)
52. Which of the following statement is not correct ?
(A) Lecture Method can develop reasoning
(B) Lecture Method can develop knowledge
(C) Lecture Method is one way process
(D) During Lecture Method students are passive
Ans : (A)
53. Which of the following indicates evaluation ?
(A) Ram got 45 marks out of 200
(B) Mohan got 38 per cent marks in English
(C) Shyam got First Division in final examination
(D) All the above
Ans : (D)
54. Team teaching has the potential to develop—
(A) Competitive spirit
(B) Co-operation
(C) The habit of supplementing the teaching of each other
(D) Highlighting the gaps in each other’s teaching
Ans : (C)
55. Which of the following is the most important characteristic of Open Book Examination system ?
(A) Students become serious
(B) It improves attendance in the classroom
(C) It reduces examination anxiety amongst students
(D) It compels students to think
Ans : (D)
56. Which of the following statements is correct ?
(A) Communicator should have fine senses
(B) Communicator should have tolerance power
(C) Communicator should be soft spoken
(D) Communicator should have good personality
Ans : (A)
57. An effective teacher is one who can—
(A) Control the class
(B) Give more information in less time
(C) Motivate students to learn
(D) Correct the assignments carefully
Ans : (C)
58. The main aim of teaching is—
(A) To develop only reasoning
(B) To develop only thinking
(C) Both (A) and (B)
(D) To give information
Ans : (C)
59. The quality of teaching is reflected—
(A) By the attendance of students in the class
(B) By the pass percentage of students
(C) By the quality of questions asked by students
(D) By the duration of silence maintained in the class
Ans : (C)
60. Another name of Basic Education or Nai Talim is—
(A) Compulsory Education
(B) New Education Policy
(C) Wardha Education Plan
(D) Sarva Shikshya Abhiyan
Ans : (C)
61. If you would be a teacher, how would you like to behave with your students ?
(A) Autocratic
(B) Democratic
(C) Laissezfare
(D) As the conditions permit
Ans : (B)
62. When you are mal-treated in your class as a new comer then how will you deal with the students ?
(A) Through tough punitive measures
(B) Through warning of expulsion
(C) Through improving your qualities
(D) You leave the class
Ans : (C)
63. If students alleged you for making favouritism in evaluation, how can you deal with this problem ?
(A) Giving threat to fail them
(B) Making efforts to reveal the position fairly
(C) Adopting punitive measures
(D) Showing the student’s answer-books in order to satisfy them
Ans : (D)
64. A scheduled caste student is admitted in your class. The other class-mates treat him as untouchable and live in isolation. How would you give him better adjustment in the class ?
(A) By putting examples by his own deeds
(B) By preaching
(C) By showing fear of legal actions
(D) By justifying the plight of downtroddens
Ans : (A)
65. A child has nail-biting habit in the class. How could you improve his habit ?
(A) You leave it because it is not a dangerous disease
(B) You attempt to mould his behaviour under strict observation
(C) You insult him in the class
(D) You make a complaint with his parent
Ans : (B)
66. When a stubborn, submissive and shameful child is sitting in your class, you think about him as he is a—
(A) Good-natured child
(B) Emotionally-disturbed child
(C) Disciplined and obedient child
(D) Serious and studious child
Ans : (C)
67. Teachers need to study educational philosophy mainly, because—
(A) Few, if any, teachers have a philosophy
(B) Most teachers follow a wrong philosophy
(C) Teacher’s are incapable of formulating their own philosophy
(D) Most teacher’s do not know anything about educational philosophy
Ans : (C)
68. Dewey liked best, the following definition of education—
(A) Education as a product
(B) Recapitulation
(C) Acquisition of knowledge
(D) Preparation for life
Ans : (B)
69. Which of the following is not one of the aims and purposes of UNESCO ?
(A) Held an educational isolationism
(B) Promote intellectual interdependence
(C) Helps to unite peoples of the world
(D) Promote pride in nationalistic groups
Ans : (C)
70. UNESCO has as one of its many promising activities, a campaign to provide—
(A) Education for all adults of the member nations
(B) Universal, free, compulsory primary education
(C) Free education to those who desires it
(D) Indoctrination against the dangers of communism
Ans : (A)
71. Suppose a child has hearing impairment but you have no idea about him. What will be your duty towards the child ?
(A) Recognise the child and manage accordingly
(B) You become neutral because it is not your headache
(C) You send him to specialist for treatment
(D) You report to teachers, parents and principal to send him to a special school
Ans : (A)
72. A student belongs to a very poor family. The student, therefore is unable to pay tuition fee for private coaching but he is eager to get some of his problems solved. What provision will you make for the student ?
(A) Give extra time to him
(B) Refuse to solve his problems as you have no spare time
(C) Creating a terror in him
(D) Not giving the ears to his request
Ans : (A)
73. If an orthopaedically handicapped girl student is studying in your class whose right hand is amputed from elbow, how would you encourage her for study ?
(A) You silently laugh at her
(B) You develop her self-confidence and high morale
(C) You treat her as a cruel creation of God
(D) You behave gently and sympathetically
Ans : (B)
74. When your student in bitten by a stray dog on games field, you do—
(A) Inform his parents and impart first-aid immediately
(B) Washing the wound with clean water and leave it open
(C) Ask financial help from school for rabies vaccination
(D) Giving personal assistance in his treatment
Ans : (C)
75. If a student wants to satisfy some querry in question-paper then—
(A) You will clarify the printing mistake
(B) You will inform the concerned subject’s teacher
(C) You will advise him to wait till the correction is being confirmed
(D) Furiously tell him to do as he understands
Ans : (A)
76. It is easier to predict ……………. on the basis of aptitude testing than success in an occupation.
(A) Failure
(B) Temperament
(C) Interest
(D) Adjustment
Ans : (A)
77. Frustration for the motives causes—
(A) Inferiority
(B) Anxiety
(C) Inefficiency
(D) Behaviour disorder
Ans : (D)
78. The teacher who has developed an interest in teaching—
(A) Studies problems of student behaviour
(B) Compares different types of tests
(C) Refuses to be guided by the rules of thumb
(D) Cannot deal with children effectively
Ans : (A)
79. The teacher who can apply the principles of Educational Psychology—
(A) Has pride in the teaching profession
(B) Can provide readymade solutions
(C) Adjusts his method to suit the needs of individual children
(D) Compares the theories of learning
Ans : (C)
80. Which of the following is an audio-visual aid ?
(A) Radio
(B) Tape-recorder
(C) Television
(D) Projector
Ans : (C)
81. Motives arouse behaviour and direct it towards an/a—
(A) Appropriate goal
(B) Inference
(C) Prediction
(D) None of the rest
Ans : (A)
82. Learning which involves motor organs is called—
(A) Sensory learning
(B) Motor learning
(C) Verbal learning
(D) Sensory-motor learning
Ans : (B)
83. Find the odd one out—
(A) Recall
(B) Recognition
(C) Trace
(D) Remembering
Ans : (C)
84. The problem child is generally one who has—
(A) An unsolved problem
(B) A poor heredity
(C) A poor home environment
(D) A younger brother or sister
Ans : (A)
85. The First Kindergarten was started by—
(A) Friedrich Froebel
(B) Benjamin Franklin
(C) Johann Pestalozzi
(D) De Witt Clinton
Ans : (A)
86. Rousseau’s major contribution to modern education was the—
(A) Kindergarten
(B) Philanthropy
(C) Use of objects in teaching
(D) Philosophy of Naturalism
Ans : (D)
87. Which of the following is most characteristic of a good teacher ?
(A) He sticks to one activity at a time and completes what he starts before starting something else
(B) He is not afraid of losing dignity when he participates in children’s activities
(C) He puts more do’s than don’ts in his comments to children
(D) He remains objective and impersonal at all times
Ans : (C)
88. A prime requisite for one who enters the teaching profession is—
(A) An IQ of over 125
(B) Public speaking ability
(C) Good health
(D) Extra income
Ans : (C)
89. There is an intimate relationship between the—
(A) Teachers and Educationists
(B) Planned and unplanned School Learning
(C) School and Society
(D) Parents and Children’s Thinking
Ans : (C)
90. Four conditions that must exist in a classroom before any motivational strategies can be successful—
(A) The teacher must be a supportive person
(B) The classroom must be disorganized
(C) The tasks set for students must not be authentic
(D) Constant disruption in class
Ans : (A)
91. The students of today are—
(A) Careless and negligent
(B) Not devoted to studies
(C) Dedicated to studies
(D) Of sharp mind
Ans : (D)
92. Government Policy on Education regards Education a unique—
(A) Consumption
(B) Investment
(C) Source of income
(D) Expenditure
Ans : (B)
93. Motivation is the release of ……………. by proceeding towards a goal.
(A) Pride
(B) Tension
(C) Knowledge
(D) Power
Ans : (B)
94. Helping people in the neighbourhood to solve behavioural problems is in the purview of—
(A) Community Psychology
(B) Neighbourhood Psychology
(C) Genetic Psychology
(D) Developmental Psychology
Ans : (A)
95. Nature and Nurture refer to—
(A) Internal and External Environment
(B) Temperament and character
(C) Physical features and temperament
(D) Heredity and Environment
Ans : (D)
96. Acquisition of information and knowledge is—
(A) Ability to learn
(B) Ability to adjust
(C) Ability to memorise
(D) None of the rest
Ans : (A)
97. Motivation should be followed by—
(A) Reward
(B) Reproof
(C) Knowledge of result
(D) Incentive
Ans : (A)
98. The motivated teacher will have following attributes—
(A) Unrealistic level of Aspiration
(B) Goal-directed behaviour
(C) Dissatisfaction
(D) Deprivation of needs
Ans : (B)
99. The teacher should promote—
(A) Anxiety among the students to complete the syllabus in a hurry
(B) Harassing the students for completing the work
(C) Encouraging interactive communication among students
(D) Punishment to a student whenever he puts a question
Ans : (C)
100. Teachers and parents give more importance to the development of intelligence among students as it facilitates—
(A) Academic achievement and social respectability
(B) Less risk taking behaviour
(C) Dependence behaviour
(D) Obedient behaviour
Ans : (A)

Tips On Getting Hired For A Job

Create a resume that is unique and attractive. Employers scan through thousands of resumes every day. Therefore, your resume should be the one that catches the eye. The resume should be such that it acts as a flag bearer of your achievements and capabilities. Remember, the basic aim of sending across the resume is to get noticed.
Learn about the company or the organization where you are applying for the job. Collect details from their website and learn everything related to their organizational structure and work policy. Do a little research on the web so that you have a basic idea of what the company is all about.
It is better to focus on one or two companies at a time and research on them thoroughly. This will be far more worthwhile than sending your resume to each and every company that you come across.
Dress impressively. Your dressing should convey your discipline, reliability and responsibility. You should create a professional image so that the employer feels that you can manage your responsibilities well. Don’t forget that first impression counts a lot.
Be proactive in your approach. Instead of leaving your resume at the desk or with some other employee, it is better if you ask to meet the manager. This will show your commitment towards getting the job and you will be looked more favourably than others.
Don’t go into lengthy explanations about yourself and your achievements unless told to do so. Be brief but to the point. Generally, employers do not give much time to the interviewee. Make sure that you manage to put across your point in whatever time you get.
Show your passion for the work profile and the company. In this, your research into the company will come in very handy. Explain to them why you like their organization and why the particular work profile attracts you. Employers most likely hire someone who has a basic and fundamental idea of the company’s work and ethics and is also passionate about it.
Persistency is the basic key on getting hired. Contact the person through phone, email and such. Don’t let the first rejection deter you. Most companies have a policy of a minimum three month gap after the first interview, post which the candidates can try for the next time. Even if the first interview fails, establish contact and maintain a relationship with the concerned person. In this way, you can have a far better success the next time.

Technology Information, Forecasting And Assessment Council (TIFAC)
Department of Science & Technology (DST)
Government of India
Technopreneurship Development
The Technopreneur Promotion Programme (TePP) is a joint initiative of the Department of Scientific & Industrial Research (DSIR) and TIFAC. The programme is aimed at expanding the innovation base by tapping the vast innovative potential of the citizens of India. Through this scheme, TIFAC has supported the 95 projects:

University of Sussex Media Film and Music Research Scholarships

University of Sussex
School of Media, Film and Music Media Film and Music Research Scholarships
The School of Media, Film and Music is delighted to offer up to four scholarships to UK/HEU and non EU students who have been accepted for DPhil study in any of the following areas, starting in October 2011:
Media and Cultural Studies
Film and TV Studies
Film, Digital and Media Production
Music, Music Theatre and Musical Composition
The scholarships will be worth the equivalent amount of the Home/EU fee in the relevant year for full-time students (at present £3,466), or pro-rata for part-time students, and will be awarded for three years for full-time students, or for an equivalent or relevant period of time for part-time and current students. Applications will be judged on academic merit and personal need.
Eligibility
Applicants must:
have been offered a place on a research degree programme in the School of Media, Film and Music in one of the areas listed above submit their research proposal and a statement of personal circumstances with their application commence the degree in October 2011 (awards cannot be deferred to subsequent years)
Application procedure
Applications should be made on the School of Media, Film and Music Research Degree Scholarship application form [PDF]
Or
School of Media, Film and Music Research Degree Scholarship application form [DOC]
Timetable
Deadline for all applications to be received – By 14 March 2011
Week beginning 11 April 2011: Applicants notified of the outcome of their application by email
Further information
For further information on the scholarships please contact
Ms Sarah Maddox
Tel: +44 1273 873525
Email: s.maddox.ac.uk

Americans find Opportunity in India

Breaking tradition, top American graduates are heading to India to find jobs and opportunity. RTAmerica reports that many Americans believe that having experience in India is an important addition to their resume in this increasingly globalized world. Some say that its easier to find a good job in India than in the United States, as India’s economy is growing while the US economy is predicted to shrink within the next year.

America faces immigrant brain drain in the wake of economic crisis

American brain drain
America faces immigrant brain drain in the wake of their economic crisis. It was built up by emigrant people who wanted a better life and now their finger prints are all over the board.
In the wake of economic difficulties in the United States, many of their immigrants are thinking of going back home to start their own ventures. They also get much better offer from their home country to make them think.
American economy is projected to shrink by 2.6% where as Indian economy is projected to grow by 5.5 % and hence it is in India and China that the next cycle of growth is expected. Very big entrepreneurs who work from India or China are now going back home and settling there.

Overcome Fear Before the Job Interview

Fear and anxiety are normal when you are going for interview; especially when you are going for your first job interview. When we let fear rule our lives, we miss out on opportunities and leads us to dismiss people and situations that could help us reach our goals. By following a few practice steps, and doing a few relaxing techniques, you can be well on your way for your interview.
1. Research is one the most important thing when you are going for interview. Even if you are familiar with the position in which you have applied, research some extra information, so that you can decide what kinds of questions you should ask at your interview.
2. Also you have to write all question that you would like to ask before your interview because it will make you feel more at ease and also will prepare you for the pending interview.
3. You must be note down all reason like why you are going for job (Which you have applied) and why you would be a good employee to work for the company. Also write down some other traits that you feel make you a good person and employee.
4. Choose the outfit that you would like to conduct your interview at least a couple days before the interview takes place. Find something which makes you feel comfortable while still appearing confident and professional.
5. Rehearsal is also very important before interview so you have to rehearsal some of the question in front of mirror.
6. Take a few deep breaths before your interview on the day that it takes place. It is a relaxation technique to release any tensions.

Your Sense of Humor can Improve Your Work Relationships

Humor is most effective tool to judge the quality of any relationship including work relationships. If there is laughter is present, you can be sure the relationship is a healthy one. For more fulfilling your relationship you must be consider sharpening your sense of humor as a great place to start. Here we have some ideas which can help to improve your sense of humor as well as improve your relationships.
You have to focus on the funny things to cultivate an atmosphere of humor and laughter in your relationship. Soon you will be seeing humor all over and enjoying it fully.
So start associating with humorous, fun loving people and avoid the downers.
Learn to laugh at yourself. If you don’t; you leave the job to others.
Collect funny cartoons and funny jokes and put them on display on the bulletin and share them with other. But never appreciate dirty jokes and jokes with sexist or racist tone.
Use humor to neutralize conflict in your relationships. When things get tense use self -deprecating humor to lighten things up.

Security in E-Finance

1.
What is E-finance?

The provision of financial services and markets using electronic communication and computation.

Now these services may be provided by a business entity to a consumer or by a business entity to another business entity or by a business entity to one of its employees or components. The first two deal primarily with provision of e-banking and such services to the consumer whereas the last aspect talks about the management of company funds through the use of internet. It refers to e-enabling of the decision-making process in the areas of working capital management, capital budgeting.

What is the impact?

E finance has impacted the financial world in two ways.

Firstly, it has changed the way that the players in the financial world provide their service to the consumer. From a tool of differentiation and branding, e-finance has become an enabler today and is one of the expected benefits in the developed countries. Many services have now been effectively outsourced and the banks and other similar companies are concentrating solely on their areas of expertise which is fund management and service. When providing services to the internal consumer, the finance division of a multinational company is acting more as an integrator than as a controller. It has greatly enhanced the speed and accuracy of financial decision making at a relatively low cost.

The financial markets have changed in a major way. The physical boundaries that existed between the markets no longer exist. The speed of information dissemination has increased manifold. The markets have become more informed and more investor friendly with the advent of e-finance.

Among the financial service providers, banks, brokerage firms and investment advisors have been at the forefront of the e-finance bandwagon. This has allowed these firms to increase their reach and target consumers in distant physical location without having to expend a penny on the creation and/or maintenance of expensive physical infrastructure.

But other companies like life insurance which provide a more personalized service like have not invested so heavily into consumer oriented e-finance. But almost all big companies have invested very heavily into the e-enabling of the internal fund management.

One of the byproducts of this progress has been the tremendous amount of e-frauds and cyber crimes that have been perpetrated against individuals, companies and sometimes the state itself.

E-finance comprises four primary channels:

Electronic funds transfers (EFTs),
Electronic data interchange (EDI),
Electronic benefits transfers (EBTs),
Electronic trade confirmations (ETCs).

All four channels of e-finance are susceptible to fraud, theft, embezzlement, pilfering, and extortion. Most of the crimes that take place over the Internet are not new—fraud, theft, impersonation, denial of service, and related extortion demands have plagued the financial services industry for years. But technology opens up new dimensions of depth, scope, and timing. Technology creates the possibility for crimes of great magnitude and complexity to be committed very quickly. In the past, stealing 50,000 credit card numbers would have taken months, perhaps years, for highly organized criminals. Today one criminal using tools freely available on the Web can hack into a database and steal that number of identities in seconds. Or a perpetrator can steal a laptop containing a database of 400,000 names and their associated credit card information. These are a few of the reasons why e-security must be taken very seriously now.

2. What is security in E-finance?

E-security can be described on the one hand as those policies, guidelines, processes, and actions needed to enable electronic transactions to be carried out with a minimum risk of breach, intrusion, or theft. On the other hand, e-security is any tool, technique, or process used to protect a system’s information assets. Information is a valuable strategic asset that must be managed and protected accordingly. The degree of e-security used for any activity should be proportional to the activity’s underlying value. Thus, security is a risk-management or risk-mitigation tool, and appropriate security means mitigation of the risk for the underlying transaction is in proportion to its value. Electronic security enhances or adds value to a naked network and is composed of soft and hard infrastructure. The soft infrastructure components are the policies, processes, protocols, and guidelines that protect the system and the data from compromise. The hard infrastructure consists of hardware and software needed to protect the system and data from threats to security from inside or outside the organization. The degree of electronic security used for any activity should be proportional to the activity’s underlying value. Security is a risk management, or risk-mitigation, tool. Appropriate security means that the risk has been mitigated for the underlying transaction in proportion to its value. Given that the Internet is a broadcasting medium, constraints have to be added to target only intended recipients. As a result, the need for security is a constant of doing business over the Internet. Electronic security will require more attention as new technology creates new risks and as technologies converge.

E-security companies and vendors generally fall into three categories:

Access, use, and assessment. Today’s industry includes companies that provide active content monitoring and data filtering, develop intrusion detection services, place firewalls, conduct penetration tests to expose hardware or software vulnerabilities, offer encryption software or services, and create authentication software or services that use passwords, tokens, keys, and biometrics to verify the identity of the parties or the integrity of the data.

In addition to e-security, many vendors supply a multitude of interlinking services to the e-finance providers in many countries. These services include hosting companies, Internet Service Providers (ISPs), and providers of financial services. Telecommunication companies in many emerging markets are also often the key providers of cellular, satellite, and microwave services. These companies often have a stranglehold on access to telecommunication delivery channels, and because of the scarce skilled human capital, these companies of necessity often supply hosting services and de facto money transmission services. Just as important, they often provide certain electronic security services.

The cross-linking ownership of the e-security and e-finance industries raises many complex questions, such as the need to review competition policy as well as the potential for and ramifications of multiple conflicts of interest. In the case of competition policy, do the multiple roles played by telecom companies act to inhibit competition; particularly in emerging markets where the expertise to provide such services often resides in these companies? More important may be issues of conflict and integrity of the services provided as well as incentives to report security breaches accurately. For example, will a telecommunication company that provides hosting, Internet service, and e-security to a bank act on its own volition, with no regulatory mandates, to institute adequate electronic security measures or report intrusions accurately and in a timely fashion? Will such an entity be able to provide proper certification of digital signatures when it has business interests in so many conflicting areas? Moreover, such an industry structure with an extensive use of outsourcing will need to review the extent of downstream liability required by this complex set of vendors as the extent of liability can at least mitigate some of the incentives that can exist for important conflicts. In many countries, liability stops with the user–– in this case, the financial services provider. Typically, contracts between financial entities and their providers use service-level percentages as a performance guarantee on a sliding-cost scale, but they do not build in sufficient remedies to address product performance from a security perspective.

3. Why do we need electronic security?

The tremendous growth in open networks has created a penetrable
electronic environment akin to a circle of Swiss cheese pieces. Financial institutions are increasingly relying on technology to process, store, and retrieve data, but advances in computer hardware, software, and communications technology increase the financial industry’s vulnerability to internal and external attacks. Without strong security controls, banks risk the possibility of financial loss, legal liability, and reputation harm.

The insecurity of the Internet further exposes financial institutions to undetected, global, and virtually instantaneous attacks on internal systems and proprietary information. This includes attacks by foreign governments and terrorists, as well as attacks by criminals or hackers originating domestically. Banks and vendors with weak security controls are susceptible to business disruptions, theft of data, sabotage, corruption of key records, and fraud. The development of wireless Internet access will further compound the problem by enabling foreign governments, terrorists, criminals, and hackers, singly or in concert, to operate in countries that do not have the advanced communications infrastructure or adequate security protocols in place. Hence, building awareness now of the criticality of the risks associated with e-finance and promoting industry use of aggressive mitigation is crucial.

The most frequent problems in the arena of e-finance security are

insider abuse
identity theft
fraud
Breaking and entering, often conducted by hackers.

The perpetrators have preferred the following means most often to commit crimes online:

Message interception and alteration
Unauthorized account access
Identity theft
Manipulation of stocks and bonds
Extortion
Unauthorized system access (e.g., system damage, or denial of service)
Industrial espionage
Manipulation of e-payment systems
Credit Card Theft

However an even bigger headache for the enforcement agencies is the non-reporting of the cyber crimes by the victims. This has created a scenario which is ideal for the perpetrators and hopeless for the enforcers. In the United States, a 2001 CSI/FBI Computer Crime Survey identified the following five major reasons organizations did not report electronic intrusions to law enforcement:

Negative publicity.
Negative information competitors would use to their advantage––for example, to steal customers.
Lack of awareness that they could report events.
Decision that a civil remedy seemed best.
Fear among IT personnel of reporting incident because of job security.

Lack of accurate intrusion reporting to regulators and law enforcement is the core reason that issues related to electronic security are not being recognized as an immediate priority.4. Tools and techniques

There should be several layers of security and monitoring in place designed to prevent unauthorized access to the business and personal information. These security measures must be designed to protect any sensitive information submitted via the Website, both online and offline.
Authentication Security

There is a need to use password authentication over a secure connection to ensure that only authorized users can access sensitive information, such as social security numbers. There are various options available, for example, VeriSign Digital ID to encrypt data with a Secure Socket Layer (SSL) connection. Companies like Verisign also offer software for secure payment as well as fraud protection.

Network Security

There should be a firewall to prevent unauthorized network access to the databases where the financial data of companies is stored. Only limited types of Internet traffic should be allowed through the firewall. Traffic should be monitored to detect any unusual or unauthorized activity. Network security can be outsourced to a reliable and reputed company which does not have stakes in e-finance itself. The servers storing personally identifiable information must be kept in a secure environment, for example, inside a locked cage.

Database Security

Certain key fields of the database should be encrypted before they are stored. Intruders would thus have difficulty reading or using sensitive customer data. This way, even if an intruder does get some data, it will be partial and incomplete, and he would not be able to use it. For example, if the names of the companies are encrypted, then someone obtaining just numerical data will find it quite useless.

Physical Security

Systems should be hosted at highly secure facility locations. The buildings should be reinforced in an effort to prevent data loss or collapse because of an earthquake or a terrorist attack. There should also be reliable backing-up of data to ensure that in case of a 9-11 like event, operations can be resumed soon.

Employee Screening

There should be a set of effective human and technological security systems in place to prevent unauthorized physical access. The backgrounds of all employees hired to handle confidential data should be thoroughly checked. This is crucial to avoid situations akin to insider trading.5. Need of a Comprehensive public policy

To effectively counter the growing menace of cyber crimes, we need a policy which not only address the security in e-finance but all the aspects of the internet economy as a whole. Following are the reasons, why we feel that such a policy should be adopted.

First, telecommunications, energy and financial services are crucial components to the critical infrastructure of every country. Given the risks that electronic vulnerabilities pose to critical infrastructure, e-security is important in promoting and protecting public health and welfare. For example, the electronic economy is exposed to and dependent on the Internet and the public-switched network as its main transmission vehicles. In a related way, the critical elements of the electronic economy are integrally connected, from financial services to electricity through the phone system. Breaches can quickly disarm or even compromise such key infrastructure areas as telephones or electricity and detrimentally affect the payment system. Hence, in addition to the concerns raised by the structure of the growing security industry and the dependence of the e-finance industry on the continuous access to telecommunications. There is a fundamental public interest case for a government to regulate the e-finance industry and to ensure that the financial system and its related components use at least a minimum level of electronic security.

Second, a market failure is occurring because inadequate incentives exist within the workplace, as well as within the regulatory and enforcement arenas, to require the timely and accurate reporting of electronic security breaches. Often, financial entities and corporations do not report losses, suspected losses, or breaches for fear of losing consumer or shareholder confidence. Clearly, regulators have a role to play in overcoming this dilemma. By requiring timely and accurate reporting with sufficiently strong penalties for failing to report, management and/or employees can be provided incentives to report a breach incident to appropriate authorities.

Third, formulation of policy in this area must balance a number of complex competing concerns; in the end, electronic security cannot be seen as an end in itself but rather as only one aspect of risk management. Trade-offs exist between the costs of financial services provided, the size of transactions, and the sophistication of the electronic security arrangements that might have to be in place. Similarly, the quality of a financial service can suffer if security arrangements slow down transaction processing speed or result in other encumbrances for consumers of financial services. Electronic -security-related regulations or laws should strive to be technology neutral in order to encourage and promote technologically innovative solutions. An example is digital signatures, often defined even in statutes as “requiring public key infrastructure” (PKI) when other authentication technologies might also be appropriate and should not be precluded by legislation or regulation. Finally, it is necessary to carefully weigh essential trade-offs between security as a protection component and the privacy element of access.

6. Recommendations:

Security of e-finance transactions is of prime importance today. The progress and the conduct of business will depend more and more on the efficiency aspect. Internet has bridged the physical gaps to a large extent. To continue the progress, an infrastructure has to be created which will address the security issues facing the e-finance industry. We feel that the following steps should be taken to address this issue.

Legal and enforcement framework which is technology neutral
Arrangements to ensure electronic security of payment systems
Supervision and prevention regime that creates better incentives to implement appropriate layered risk-management systems, including electronic security for financial services providers
Encourage and promote a framework within which private insurance companies can insure against and monitor e-risk, thereby helping to improve standards in this area via the underwriting covenants they require
Develop certification standards and processes established with respect to digital signatures and more broadly, to vendors operating in the electronic security industry
Actions to improve the accuracy of information available about e-security incidents and the roles of the public and private sectors in this process
Educate citizens, employees, and management on security issues as a means of preventing e-security incidents

Ensure that the role of the government is limited to a watchdog that ensures that the business is conducted in a smooth manner and leave the technology part to the market.

Computerisation of Clearing and Settlement Operations

5.1. Computerisation of clearing operations was the first major step towards modernisation of the payments system³. The introduction of technology for clearing operations began with the setting up of ‘Claim Based Settlement System’ using Microprocessor based computer systems at Mumbai, Chennai and Delhi, in the early eighties. These systems were used for generating settlement reports on the basis of input statements containing the aggregate value of (cheques presented) claims of one bank over the other banks in the clearing house. Clearing balancing and settlement, which used to take a long time due to differences and errors in manual balancing, were reduced, apart from providing accuracy in the final settlement.

5.2. The next important milestone was fully automating the clearing operations. The rapid growth of cheque volumes in the eighties made the task of manual sorting and listing a very difficult task. Banks were unable to cope with the huge volume of cheques which had to be physically handled prior to their presentation in the
clearing house. Though the clearing settlement became easy because of computerisation, the heavy volumes of paper that had to be processed introduced delays in presentation resulting in delayed credit to the customers. The growth in the volumes could therefore, be managed only by mechanisation of the entire clearing process.

5.3. The solution was the introduction of Magnetic Ink Character Recognition (MICR) based mechanised cheque processing technology. The existing cheques had to be redesigned incorporating a MICR codeline⁴ which could be read by document processing machines called reader-sorters. The RBI introduced two types of reader-sorters – the Medium Speed Reader Sorters, capable of processing 300 instruments per minute for Inter-city instruments and the High Speed Reader Sorter Systems (HSRS) with speeds of 2400 documents per minute, for the clearing of local instruments. Driven by mainframe computers the HSRS systems were the state-of-the-art systems available at that time. These were installed in Mumbai (1986) followed by Chennai, New Delhi, (1987) and Calcutta(1989). By the middle of 1989 MICR cheque clearing operations in the four metropolitan cities had become fully operational and stabilised.

³ Several committees of the Reserve Bank recognised the importance of reforms in the clearing systems and underscored the need for computerisation on a priority basis. (See Annexure for details).

⁴ MICR Codeline contains basic cheque information in designated fields for data capture and mechanical sorting of the cheques. The codeline is both pre-printed and later encoded using special MICR ink, using standardised E13B Font.

5.4.
Inter-city clearing: The four metropolitan centres viz., Mumbai, New Delhi, Calcutta and Chennai are covered by two way inter-city clearing. The other offices of the RBI are connected with these four centres under one way inter-city clearing. Under this system, inter-city cheques drawn on any of the metropolitan centres are
processed at the MICR clearing and are sent to the drawee centre by postal courier where they are integrated with the local clearing of that centre. This National Clearing has sharply reduced the time taken for realisation of these cheques.
5.5.
Regional Grid Clearing operations: As a logical step towards extension of Inter-city clearing at all the major cities, a regional grid clearing was introduced in a small way. Important commercial centres/district headquarters in a region were connected for one way clearing with the nearest MICR centre. Thus, cities such as Coimbatore, Madurai, Pondicherry were linked to Chennai, Pune and Vadodara to Mumbai, Asansol and Jamshedpur to Calcutta etc. The benefits of reduced time for inter-city clearing was thus extended to such cities too
5.6.
Clearing houses managed by the RBI: The settlement operations in all non-MICR based clearing centres managed by the RBI viz., the clearing houses at Ahmedabad, Kanpur, Bangalore, Hyderabad, Nagpur, Patna, Jaipur, Thiruvananthapuram, Guwahati and Bhubaneshwar were also computerised by the introduction of a magnetic media based input settlement software package, developed in-house. The clearing data from the banks aggregated as receivables, are submitted in floppies to the clearing house and settlement is carried out.
5.7. The magnetic media based input settlement represents an intermediate step towards complete automation of cheque clearing through MICR processing and enables banks and the clearing house to get accustomed to a computerised environment. The system has been in operation for nearly four years and is functioning satisfactorily. It covers presentation clearing,
return clearing, High Value/High Value return clearings and inter-bank clearing but does not cover inter-city clearing.
5.8.
High Value clearing: High value clearing is a value added service. In this clearing select branches located in a central business/commercial area and in the vicinity of the Clearing House/Service Branches of banks present instruments with a face value of Rs.100,000/- and above deposited by their customers within a specified cut-off time, to the clearing house. The instruments are dropped into the respective receptacles of the drawee banks and settlement is carried out through floppy based input statement. The return clearing is held before close of banking hours on the same day. In 1994, the total value of instruments presented in this clearing at the 4 metros was Rs.522,871 crores. By 1997, this had gone up to Rs.949,502 crores. (1 crore is equivalent to 10 million)
5.9.
High value clearing enables a customer who deposits a cheque on day 1 to withdraw the amount on day 2 itself, provided, there is no return. High value clearing is therefore, faster compared to regular MICR clearing where credit is afforded on Day 2 and withdrawals are permitted on Day 3, after the Return discipline cycle is completed. High value clearing was first introduced in Chennai in April 1989, and was then extended to Mumbai, Calcutta and New Delhi respectively. It has since been extended to Ahmedabad, Bangalore, Hyderabad, Jaipur and Kanpur. The 5 remaining RBI managed clearing centres are likely to introduce high value clearing shortly.
5.10.
Inter-bank Clearing: Inter-bank payments are usually settled among banks by issuing cheques drawn on their accounts with Reserve Bank of India. This practice
resulted in a large number of cheques being presented to Deposit Accounts Department (DAD) of the Reserve Bank, leading to heavy work pressures throughout the day. It was therefore, decided to start a separate Inter-bank clearing. In the Inter-bank clearing banks no longer use the RBI cheques to settle their claims against each other. Instead, they use their own Bankers Cheques. The settlement is carried out through Floppy Based input statements, submitted to the Clearing House. The pay orders are however, dropped in the designated receptacles, from where they are collected by banks’ representatives. Since there is no return for these instruments, the credit / debit is instantaneous.
5.11.
Inter-bank clearing is used by banks mainly for four types of transactions: call money transactions, Rupee payment of foreign currency transactions, Bank to Bank transfers for funding upcountry requirements and Inward remittances. Inter-bank clearing was introduced in Chennai in April 1989, followed by Mumbai, Calcutta and New Delhi. This clearing which is basically a debit clearing has been converted into a credit clearing at Chennai from 1996 onwards. Instead of bankers’ cheques, banks generate credit advices using a software provided to them by the Reserve Bank and settlement is effected at the Clearing House on the basis of the consolidation of the credit data furnished by all the member banks. This has been rendered possible due to computerisation of all the service branches in Chennai.
5.12.
Computerisation of service branches which accompanied the computerisation of the clearing houses (both MICR and Floppy based) at banking centres with large volumes of business has resulted in the creation of a base for the introduction of automated clearing operations at other centres. This has also enabled the introduction of electronic payments services on an experimental basis so that future expansion of these services using the clearing infrastructure is possible. However, there is a lot of scope for developing backward and forward linkages to fully utilise the advantage of the item-wise data base created by the MICR cheque processing.

Evolution of Payment Systems in India

2.1. Payment instruments and mechanisms have a very long history in India. The earliest payment instruments known to have been used in India were coins, which were either punch-marked or cast in silver and copper. While coins represented a physical equivalent, credit systems involving bills of exchange facilitated inter-spatial transfers.

Figure 2.1. Early Punchmarked coin

(Courtesy – Museum Cell, RBI)

2.2. In ancient India, loan deed forms called rnapatra or rnalekhya were in use. These contained details such as the name of the debtor and the creditor, the amount of loan, the rate of interest, the condition of repayment and the time of repayment. The deed was witnessed by a person of respectable means and endorsed by the loan-deed writer. Execution of loan deeds continued during the Buddhist period, when they were called inapanna.

2.3. In the Mauryan period, an instrument called adesha was in use, which was an order on a banker desiring him to pay the money of the note to a third person, which corresponds to the definition of a bill of exchange as we understand it today. During the Buddhist period, there was considerable use of these instruments. Merchants in large towns gave letters of credit to one another. There are also numerous references to promissory notes.

2.4. The loan deed continued into the Mughal period. The deeds were called dastawez and were of two types: dastawez-e-indultalab which was payable on demand and dastawez-e-miadi which was payable after a stipulated time.

2.5. In the Mughal period, we have the testimony of foreign travellers regarding the use of bills of exchange in the then great commercial centres. From their writings, it may be noted that Indian bankers also issued bills of exchange on foreign countries, mainly for financing sea-borne trade. These bills were widely accepted and were traded at high discounts, as the discounts included the insurance premium covering the risk representing safe arrival of goods.

2.6. Another instrument in use during the Muslim period was the Pay order. Pay orders were issued from the Royal Treasury on one of the District or Provincial treasuries. They were called Barattes and were akin to present day drafts or cheques.

2.7. The most important class of credit Instruments that evolved in India were termed Hundis. Their use was most widespread in the twelfth century, and has continued till today. In a sense, they represent the oldest surviving form of credit instrument. Hundis were used

	* as remittance instruments (to transfer funds from one place to another)
	* as credit instruments (to borrow money [IOUs])
	* for trade transactions (as bills of exchang)

Figure 2.2. Nineteenth century Period Hundi

(Courtesy – Museum Cell, RBI)

2.8. Hundis were of various kinds and each type had
certain distinguishing features.

Darshani Hundi : This was a demand bill of exchange, payable on presentation according to the usage and custom of the place. These were mainly of four types.

A] Sah-jog – was a hundi transferable by endorsement and delivery but payable only to a Sah or to his order. A Sah was a respectable and responsible person, a man of worth and substance who was known in the market.

B] Dhanni-jog – was a demand bill of exchange payable only to the dhanni, i.e. the payee. This hundi was not negotiable.

C] Firman-jog - hundis came into existence during the Muslim period. Firman is a Persian word meaning order and therefore, firman-jog hundis were payable to the order of the person named. These hundis could be negotiated with a simple or conditional endorsement.

D] Dekhavanhar – hundi was a bearer demand bill of exchange payable to the person presenting it to the drawee. Thus it corresponded to a bearer cheque.

Muddati Hundi : This is a usance bill and is payable after stipulated time or on a given date or on a determinable future date or on the happening of a certain stipulated event. Muddati hundis of Sah-jog, dhanni-jog and firman-jog types had the same features as those attached to the same types of darshani hundis. However, the most important type of muddati hundi was the jokhami hundi, which was a documentary bill of exchange corresponding to the present day bill of lading. This had been in use for centuries and payment was conditional on the safe arrival of goods.

2.9. The princely states of India had their own distinct coins. An example of this was the Arcot Rupee coin struck
by the Nawab of Arcot in the Madras Presidency. By 1740, the Europeans had secured the privilege of coining this rupee, and the coins came to be known as English, French and Dutch arcots. In 1835, the East India Company introduced the Company’s Rupee to bring about uniformity of coinage over British India.

2.10. Paper money, in the modern sense, has its origin in the late 18th century with the note issues of private banks as well as semi-government banks. Amongst the earliest issues were those by the Bank of Hindoostan, the General Bank in Bengal and Behar, and the Bengal Bank. Later, with the establishment of three Presidency Banks, the job of issuing notes was taken over by them. Each Presidency Bank had the right to issue notes within certain limits. The Bank of Bengal notes generally circulated within the environs of Calcutta and were mainly used for effecting large transactions. The largest proportion of the Bank of Bengal notes consisted of notes of Rs.100 and upwards. The notes sometimes bore a small premium, so great was the public confidence in the bank. The Paper Currency Act of 1861 conferred upon the Government of India the monopoly of Note Issue bringing to an end note issues of private and Presidency Banks.

2.11. The private banks and the Presidency Banks introduced other payment instruments in the Indian money market. Cheques were introduced by the Bank of Hindoostan, the first joint stock bank established in 1770.

2.12. Post Bills were introduced by the British in 1827. These were Inland Promissory notes issued by the bank on a distant place, the holder of which would be paid on acceptance after a specified number of days (seven days’ sight or thirty days’ sight) and were similar to muddati hundis. These bills had a much smaller currency than bank
notes, mainly because the government refused to authorise their receipt in payment of public dues. They were mainly used by European businessmen for purposes of internal remittances.

2.13. In 1833, cash credit accounts were added to the Bank of Bengal’s array of credit instruments. The bank used to grant loans against the security of Company’s paper, bullion, plate, jewels or goods of non-perishable nature or goods not liable to great alteration in their value up to a limit of 1 lakh sicca rupees.

2.14. Buying and selling bills of exchange became one of the items of business to be conducted by the Bank of Bengal from 1839.

2.15. In 1881, the Negotiable Instruments Act (NI Act) was enacted, formalising the usage and characteristics of instruments like the cheque, the bill of exchange and promissory note. The NI Act provided a legal framework for non-cash paper payment instruments in India.

2.16. With the steady growth in volumes of trade and commerce and the growing confidence of the public in the usage of cheques etc., transactions through the use of these payment instruments grew at a rapid pace. Bank employees had to frequently walk to other banks, collect cheques and drafts, and present them to drawee banks and collect cash over the counter. There was danger of loss in transit of the instruments. Besides, such methods could only serve for limited volumes of instruments. With the development of the banking system and higher turnover in the volume of cheques, the need for an organised cheque clearing process emerged amongst the banks. Clearing associations were formed by the banks in the Presidency towns and the final settlement between member banks was effected by means of cheques drawn
upon the Presidency Banks. With the setting up of the Imperial Bank in 1921, settlement was done through cheques drawn on that bank.

2.17. The Calcutta Clearing Banks’ Association, which was the largest bankers’ association at that time, adopted clearing house rules in 1938. The association had twenty-five large banks as its members and eight sub-members. There were two ordinary clearings on each business day, except on Saturday when there was one clearing. However, the association did not cover many banks functioning in Calcutta. The cheques, drafts etc. of such non-clearing banks were collected by the clearing banks only on payment of charges. This affected their business prospects adversely, as the public was not likely to maintain accounts with banks whose cheques suffered a serious handicap of market acceptability. To overcome this problem, these banks formed themselves into a group called the Metropolitan Banking Association with fifty members, which conducted the Metropolitan Clearing House, in 1939. This association arrived at an understanding with the Calcutta Clearing House in 1940. In addition, two other clearings were conducted in Calcutta – the Pioneer clearing and the Walks Clearing.

2.18. The Bombay Clearing House was the only association to conduct clearings in Bombay. It had no parallel systems/institutions comparable to the Metropolitan Clearing House of Calcutta. The uniform procedures and charges for collection of non-clearing banks’ cheques, drafts, dividend warrants etc. were adopted by the Bombay Clearing House in 1941-42.

2.19. After the setting up of Reserve Bank of India under the RBI Act 1935, the Clearing Houses in the Presidency towns were taken over by Reserve Bank of India.

Winning approach to answering "Why should we hire you?"

Winning approach to answering "Why should we hire you?" question by Mikhail Portnov, Founder and CEO of Portnov Computer School, specializing in Career Training and Job Placement in the field of Software Quality Assurance (Software Testing).
Out of many common interview question the "Why should we hire you?" (sometimes "Why should I hire you?") question is probably the most confusing one. Hundreds of career books are answering the "Why should we hire you?" question. Thousands of web site are trying to answer the "Why should we hire you?" question. And still there is no one-size-fits-all answer.
It happens for a very simple reason – approaching that question in a straight forward manner we are not able to produce a sound answer:
* we do not know the competition (other people applying for the position)
* even if we do know them our judgment cannot be exactly identical to the judgment of decision making people at that company
* moreover, the hiring decision is not necessarily 100% logical. It might be somewhat (or sometimes very much) emotional
So, with all that said how do we approach answering the "Why should we hire you?" interview question? Why employers ask that question anyway? Is that just another way of asking "What can you do for our company?"
First and foremost the employer is trying to find out if you are really confident in yourself and your ability to successfully perform the job duties. Also your answer might demonstrate your actual interest in the position if you show that you did the research on the company, its products, technology, job requirements.
Another aspect: being unprepared to answer that question practically disqualifies the candidate.

Math Tutor : Sets

Free math lessons and math homework help from basic math to algebra, geometry and beyond. Students, teachers, parents, and everyone can find solutions to their math problems instantly.

Preschool learning : English

In the first lesson –which would be several short lessons in a preschool or kindergarten setting — students play a game to associate sounds with something other than speech, i.e., with shapes (in color). Learning to associate sounds with shapes is the key awareness in literacy. These shapes don’t have to be letters. In fact, students get the key awareness much easier if the games don’t begin with letters. It is also much more equitable since some students have played with letters at home and some haven’t. In this lesson (2) the students are introduced to a new set of shapes — alphabetic letters — and (get this!) they already know the sounds for these remarkable cultural shapes because the letters are presented in the same colors as the colored rectangles from the earlier lessons. The letter chart (Fidel) at the beginning of the lesson shows that many letters are used for the same sound in English spelling. But complicated English spelling isn’t an issue in the beginning. This simple rule covers it all for now: Any letter or set of letters in the same color will have the same sound.

Home made wind generator using Ametek 38V motor

Home made wind generator using Ametek 38V motor
Build your own wind power generator at low cost.
Using used auto parts and a few other parts from the hawker’s shop you can build a reliable wind power generator.
You could build several for the cost of one commercial turbine and sell your excess power to the power company in many areas.

How to succeed in life

Success in Life
Everybody want to succeed in life and for that you want to know what success itself is.
The ability to “Live life the way you want to live, do things you enjoy most surrounded by people whom you love most”
is what success is all about! – and that is Harsha Bhogle
Harsha Bhogle presents in TED India the rise of cricket in India .