SO THE JOINING PROCESS START FOR IBPS CLERK II AND HALF OF BANK ANNOUNCED THERE JOINING DATES TILL HERE I PRESENT THE LIST OF BANK WHO ANNOUNCED HIS JOINING DATES.
MANY BANK STARTS HIS JOINING PROCESS IN JULY.
NAME OF BANKS HIS JOINING DATES TILL NOW
1 Uco Bank-(in July 1st weak)-Click for details
2 IOB (mail to selected candidates-click for detail
3 united bank of India-(5th June)-click for details
4 Dena Bank -(1st June)-click for details
5 Canara Bank -(2nd weak of June)-click for details
6 OBC -(1st July)-click for details
7 Bank of Maharashtra -(1st July)-click for details
8 Corporation Bank-(latter sent to selected candidates)-click for details
9 PNB (for some states only -(1st July )-click for details
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Showing posts with label IBPS CLERK 2013. Show all posts
Showing posts with label IBPS CLERK 2013. Show all posts
May 22, 2013
DENA BANK COME OUT WITH THE LIST OF SELECTED CANDIDATES AND JOINING DATES FOR IBPS CLERK II
DENA BANK DECLARE THE JOINING PROCESS START IN JUNE
case any candidate does not receive the Offer of Appointment by 31.05.2013, he/she may report to the concerned Authority for pre-recruitment formalities and joining on any day from 1st June to
17th June, 2013 (excluding Sunday and Holiday) along with the following documents in original (along with one photo copy duly attested):
CLICK HERE TO SEE ROLL NO. OF SELECTED CANDIDATES
DOCUMENT REQUIRED :
i. Copy of IBPS Application with three latest passport size photographs.
ii. Proof of date of birth (Birth certificate, SSC/ Metric certificate showing date of birth)
iii. Certificates in support of your educational qualifications from SSC / Metric onwards (including degree / post graduation / technical and professional qualifications) along with mark sheets for each.
iv. Experience certificate / s, if any. .year/semester
v. Caste / community certificate issued by the competent authority in the format prescribed by Govt. of India, in case you belong to SC / ST / OBC category.
vi. Candidates belonging to OBC category should submit the latest OBC certificate specifically mentioning the “creamy layer” clause.
vii. Computer literacy certificate/s.
viii. Medical certificate from the medical board at the district level in case you belong to physically challenged category
ix. Relieving order from your present employer, if employed.
x. In case of Ex-Servicemen candidate, discharge certificate/relieving letter issued by Defence Authority.
Copy of Offer of Appointment will be provided to you at the time of Reporting for your reference and acceptance.
ROLL
May 20, 2013
UNITED BANK OF INDIA COME OUT WITH LIST OF SELECTED CANDIDATE AND JOINING SCHEDULE OF IBPS CLERK -II
United Bank of India is a state owned finacial services company headquartered in Kolkata, West Bengal, India. Presently the bank has a three-tier organizational setup consisting of its Head office in Kolkata, 31 Regional offices and 1650 branches spread all over India. However, its major presence is in Eastern India.
The Bank released the list of candidates selected for the CLERK candidates.
On the basis of Common Recruitment Process, the IBPS, Mumbai has allotted the following candidates to our Bank for appointment as Clerical Cadre.
Please Note:
* Candidates are advised to report at the Regional Offices as mentioned against their names for completing Pre-employment Formalities including Medical Examination on 05.06.2013 at 10.30 A.M.
* The place of reporting for pre-employment formalities should not be construed as the place of posting.
* Separate communication is being sent individually.
* The candidates will be issued Appointment Letter indicating their place of posting only after verification of documents, if found medically fit for the services of the Bank and upon receipt of satisfactory Report from Referees & Police authorities.
DOCUMENTS REQUIRED:-
1.4 COPY PHOTO
2.ORIGINAL CERTIFICATES OF AGE,CASTE,QUALIFICATION & EXPERIENCE(IF ANY)
3.FILL UP OF BIO DATA GIVEN BY BANK.
CLICK HERE TO DOWNLOAD SELECTED CANDIDATES LIST
The Bank released the list of candidates selected for the CLERK candidates.
On the basis of Common Recruitment Process, the IBPS, Mumbai has allotted the following candidates to our Bank for appointment as Clerical Cadre.
Please Note:
* Candidates are advised to report at the Regional Offices as mentioned against their names for completing Pre-employment Formalities including Medical Examination on 05.06.2013 at 10.30 A.M.
* The place of reporting for pre-employment formalities should not be construed as the place of posting.
* Separate communication is being sent individually.
* The candidates will be issued Appointment Letter indicating their place of posting only after verification of documents, if found medically fit for the services of the Bank and upon receipt of satisfactory Report from Referees & Police authorities.
DOCUMENTS REQUIRED:-
1.4 COPY PHOTO
2.ORIGINAL CERTIFICATES OF AGE,CASTE,QUALIFICATION & EXPERIENCE(IF ANY)
3.FILL UP OF BIO DATA GIVEN BY BANK.
CLICK HERE TO DOWNLOAD SELECTED CANDIDATES LIST
May 15, 2013
Indian Overseas Bank Declared Clerks Joining Schedule of IBPS clerk-II
IOB is a public sector bank and is headquartered in Kolkata. The bank has 35 regional offices and more than 2200 branches spread all over India with over 25000 employees released the Joining Schedule for the CLERK candidates.
On the basis of Common Recruitment Process, the IBPS, Mumbai has allotted the following candidates to our Bank for appointment as Clerical Cadre.
View from here the list of roll nos of candidates selected on the basis of CWE- Clerk II Recruitment process, for appointment as CLERICAL CADRE
Click Here to Download detailed Notification regarding Appointment in IOB
Please Note:
* Appointment letters are being dispatched through Speed post.
* This list is purely provisional, subject to the candidates being found
medically fit and submitting acceptable documentary evidence (original) in
respect of all eligibility criteria such as Age, Educational qualification, Category,
Caste/ PWD Certificate etc.
* At the time of reporting the candidates must ensure that they fulfill the eligibility criteria in respect of age, category (SC/ST/OBC/PWD), educational qualification, etc.
* as stipulated in the advertisement/notification for CWE-Clerk-II by IBPS, and produce original testimonials / documents for verification
May 9, 2013
PROCESS AFTER ALLOTMENT OF BANKS OF IBPS CLERK II 2012-13
IBPS SEND SMS AND EMAIL TO EVERY SELECTED AND ALSO THOSE CANDIDATE WHO NOT SELECTED FOR THERE STATUS.
EVERY CANDIDATE GET MAIL FOR THE PURPOSE OF ALLOTMENT .NOW THE CANDIDATE THINK THAT WHAT NEXT TO HAPPEN.
NOTE-IF ANY SELECTED CANDIDATE NOT GET MAIL THEN HE WILL SEND EMAIL TO IBPS TO SOLVE HIS PROBLEM
STEPS FOR SELECTION AND INDUCTION:-
FIRST I CONGRATULATE ALL OF THOSE WHO GET SELECTION.
1.NOW EVERY BANK WILL PUBLISH THE LIST OF ROLL NO. FOR RE CONFIRM ALL SELECTED CANDIDATE.
2.AFTER CONFORMATION AND SOLUTION OF PROBLEMS BANKS WILL SEND OFFER LATTER OR APPOINTMENT LETTER TO EVERY SELECTED CANDIDATES
3.IN OFFER LETTER BANKS WILL GIVE DETAIL ALL THE METHODOLOGY AND SALARY STRUCTURE THEY FOLLOW.BANK WILL GIVE DETAIL OF PLACE OF ALLOTMENT ALSO.
4.CANDIDATE WILL ALLOTTED NEAREST BRANCH AS PER PREFERENCE MADE BUT IT IS NOT COMPULSORY FOR GIVEN NEAREST BRANCH.
5.NOW BANK WILL GIVE TRAINING THEM AS SCHEDULE MENTIONED.THIS WILL TAKE 1-2 MONTH
6.ALL BANK START JOINING FORM JULY TO AUGUST
7.ALL BANK OFFER SALARY AROUND 15 K (INCLUDING PF,ESI,DA) IN METRO CITIES AND TIER II AND RURAL IT OFFER 12.5 K .
8.BANK WILL APPOINT CANDIDATE ON PROBATION BASIS OF 2 YEARS.
9.AFTER 2 YEARS BANKS CAN ASSESS EMPLOYEE JOB PERFORMANCE AND THEN BANK WILL INCREASE SALARY AND POSITION ACCORDINGLY.
BEST OF LUCK TO EVERY SELECTED CANDIDATE.
EVERY CANDIDATE GET MAIL FOR THE PURPOSE OF ALLOTMENT .NOW THE CANDIDATE THINK THAT WHAT NEXT TO HAPPEN.
NOTE-IF ANY SELECTED CANDIDATE NOT GET MAIL THEN HE WILL SEND EMAIL TO IBPS TO SOLVE HIS PROBLEM
STEPS FOR SELECTION AND INDUCTION:-
FIRST I CONGRATULATE ALL OF THOSE WHO GET SELECTION.
1.NOW EVERY BANK WILL PUBLISH THE LIST OF ROLL NO. FOR RE CONFIRM ALL SELECTED CANDIDATE.
2.AFTER CONFORMATION AND SOLUTION OF PROBLEMS BANKS WILL SEND OFFER LATTER OR APPOINTMENT LETTER TO EVERY SELECTED CANDIDATES
3.IN OFFER LETTER BANKS WILL GIVE DETAIL ALL THE METHODOLOGY AND SALARY STRUCTURE THEY FOLLOW.BANK WILL GIVE DETAIL OF PLACE OF ALLOTMENT ALSO.
4.CANDIDATE WILL ALLOTTED NEAREST BRANCH AS PER PREFERENCE MADE BUT IT IS NOT COMPULSORY FOR GIVEN NEAREST BRANCH.
5.NOW BANK WILL GIVE TRAINING THEM AS SCHEDULE MENTIONED.THIS WILL TAKE 1-2 MONTH
6.ALL BANK START JOINING FORM JULY TO AUGUST
7.ALL BANK OFFER SALARY AROUND 15 K (INCLUDING PF,ESI,DA) IN METRO CITIES AND TIER II AND RURAL IT OFFER 12.5 K .
8.BANK WILL APPOINT CANDIDATE ON PROBATION BASIS OF 2 YEARS.
9.AFTER 2 YEARS BANKS CAN ASSESS EMPLOYEE JOB PERFORMANCE AND THEN BANK WILL INCREASE SALARY AND POSITION ACCORDINGLY.
BEST OF LUCK TO EVERY SELECTED CANDIDATE.
May 7, 2013
CANDITATE NOT NEED TO WORRY ABOUT SMS OR EMAIL NOT RECEVIED FOR IBPS CLERK II
THIS POST TO REMOVE DOUBTS OF CANDIDATE ,WHO FINALY QUALIFIED FOR BANK ALLOTMENT IN IBPS CLERK II,(WHO COME UNDER THE MINIMUM CUTOFFS)BUT NOT GET ANY SMS OR EMAIL FROM IBPS TILL NOW.
PLESE SEE FOLLOWING POINT
1.IF YOU HAVE CLEAR THE MINIMUM CUTOFF AS GIVEN IN IBPS FINAL STATE-WISE ALLOTMENT,YOU WILL DEFIANTLY GET A BANK ALLOTTED TO YOU.SO JUST CHILL AND ENJOY THE MOMENT.SMS AND EMAIL BOTH WILL COME SHORTLY THIS WEEK,THE ALLOTTED BANK ALSO CONTACT YOU WITHIN 15 DAYS FOR POST AND AREA ALLOTTED TO YOU ,
2.WAITING LIST COME WHEN THE SEATS ARE VACANT DUE TO CANDIDATE DID NOT CAPTURE THE SEATS.OR NEW VACANCIES ARE COME,
3.IBPS START TO SEND EMAIL TO EVERY SELECTED CANDIDATE THIS WILL TAKE UPTO ONE WEEK TIME.
4.PLESE NOTE CHECK YOUR SPAM BOX ALSO.BECAUSE SOME TIME MAIL GO IN SPAM BOX.
5.FOR THOSE WHO HAVE MISSED THE CUT-OFFS AND NOT ALLOTTED A BANK ,DEAR TAKE THIS FALURE AS LEARNING.AND START ONE AGAIN PRACTICE BECAUSE PO 3 COMING IN SEP.ALSO CLERK 3 IN DEC.
May 6, 2013
ALLOTMENT PROCESS AGAINST AVAILABLE STATEWISE VACANCIES OF IBPS CLERK-II 2013 COMPLETED
Candidates are being intimated individually about their status at the email address and mobile number registered for CWE Clerks-II.
CLICK HERE TO SEE IBPS ALLOTMENT DETAIL
so check the minimum cutoffs
April 15, 2013
final CUTOFF ANALYSIS OF IBPS CLERK 2 allotment
IBPS CLERK II HAS CAME WITH 40000 VACANCY WE EXPECTED 35000+.WE HAVE EXPECTED THE MARKS & CALCULATION WERE ALMOST CORRECT.TODAY WE WILL GUIDE REGARDING CUTOFF EXPECTATION & YOUR BANK SELECTION.
THERE ARE 4 CATEGORY MAINLY FOR EXAM.WE WILL TRY TO EXPLAIN YOU THE EXPECTED CUTOFF FOR THE SELECTION ACCORDING TO VACANCY LIST AVAILABLE.
Q1.I AM GENERAL WITH 65%(COMBINED PERCENTAGE),WHAT IS MY CHANCE?
ANS:-ACCORDING TO ANALYSIS UTTARPARDESH,TAMILNADU,MAHARASTRA,KARNATAKA,GUJARAT,ANDHRA PARDESH HAVE MORE THAN 1000+ VACANCY.SO WE EXPECT CUTOFF OF MAX. 60-65%.
AS IN SOME STATE VACANCY ARE HIGH BUT EXAMINEE WERE LOW e.g.UP,MAHARASTRA,GUJARAT THIS STATE CANDIDATES HAVE VERY GOOD CHANCE.
EXPECT THIS STATE WE EXPECT CUTOFF CAN HIGHER THAN 65%-68% AS VACANCY ARE LOW BUT EXAMINEE WERE HIGH e.g.KERALA,WB,RAJ.,PUNJAB,ORISSA.
ACCORDING TO ESTIMATE PEOPLE GENERAL CATEGORY PERCENTAGE ABOVE 68% ARE 100% IN.
Q2.I AM OBC WITH 60%(COMBINED PERCENTAGE),WHAT ARE MY CHANCE?
ANS:-ACCORDING TO ANALYSIS UTTARPARDESH,TAMILNADU,MAHARASTRA,KARNATAKA,GUJARAT,ANDHRA PARDESH HAVE MORE THAN 600+ VACANCY.SO WE EXPECT CUTOFF OF MAX. 58-62%.
IN SOME STATE THERE IS HIGH VACANCY COMPARED TO GENERAL VACANCY i.e.BIHAR,KERALA,NEWDELHI,PUNJAB & WB.
EXPECT THIS STATE WE EXPECT CUTOFF CAN HIGHER THAN 62%-64% AS VACANCY ARE TOO LOW COMPARED TO OTHER CLASS VACANCY,EXAMINEE WERE HIGH e.g.JHARKHAND(58),UTTARAKHAND(75).
ACCORDING TO ESTIMATE PEOPLE OBC CATEGORY PERCENTAGE ABOVE 65% ARE 100% IN.
Q3.I AM SC/ST WITH 58%(COMBINED PERCENTAGE),WHAT ARE MY CHANCE?
ANS:-THIS IS THE CATEGORY WHERE LOTS OF DISCRIMINATION IN EVERY STATE.
SC IN SOME STATE GOT VACANCY MORE THAN OBC:-(MORE CHANCE OF SELECTION)
ORISSA,PUNJAB,UTTARAKHAND etc.
STATE GOT VERY LESS VACANCY IN ST CATEGORY:-(LESS CHANCE OF SELECTION)
TN,BIHAR,KERALA,UP,PUNJAB.
STATE HAVING MORE VACANCY IN ST CATEGORY:-(MORE CHANCE OF SELECTION)
GUJARAT,JHARKHAND,MP,NEWDELHI.
ACCORDING TO ESTIMATE PEOPLE SC/ST CATEGORY PERCENTAGE ABOVE 60% ARE 100% IN.
NOTE:-THIS IS ONLY SUGGESTION BASED ON internet CALCULATIONS & SURVEY.
THERE ARE 4 CATEGORY MAINLY FOR EXAM.WE WILL TRY TO EXPLAIN YOU THE EXPECTED CUTOFF FOR THE SELECTION ACCORDING TO VACANCY LIST AVAILABLE.
Q1.I AM GENERAL WITH 65%(COMBINED PERCENTAGE),WHAT IS MY CHANCE?
ANS:-ACCORDING TO ANALYSIS UTTARPARDESH,TAMILNADU,MAHARASTRA,KARNATAKA,GUJARAT,ANDHRA PARDESH HAVE MORE THAN 1000+ VACANCY.SO WE EXPECT CUTOFF OF MAX. 60-65%.
AS IN SOME STATE VACANCY ARE HIGH BUT EXAMINEE WERE LOW e.g.UP,MAHARASTRA,GUJARAT THIS STATE CANDIDATES HAVE VERY GOOD CHANCE.
EXPECT THIS STATE WE EXPECT CUTOFF CAN HIGHER THAN 65%-68% AS VACANCY ARE LOW BUT EXAMINEE WERE HIGH e.g.KERALA,WB,RAJ.,PUNJAB,ORISSA.
ACCORDING TO ESTIMATE PEOPLE GENERAL CATEGORY PERCENTAGE ABOVE 68% ARE 100% IN.
Q2.I AM OBC WITH 60%(COMBINED PERCENTAGE),WHAT ARE MY CHANCE?
ANS:-ACCORDING TO ANALYSIS UTTARPARDESH,TAMILNADU,MAHARASTRA,KARNATAKA,GUJARAT,ANDHRA PARDESH HAVE MORE THAN 600+ VACANCY.SO WE EXPECT CUTOFF OF MAX. 58-62%.
IN SOME STATE THERE IS HIGH VACANCY COMPARED TO GENERAL VACANCY i.e.BIHAR,KERALA,NEWDELHI,PUNJAB & WB.
EXPECT THIS STATE WE EXPECT CUTOFF CAN HIGHER THAN 62%-64% AS VACANCY ARE TOO LOW COMPARED TO OTHER CLASS VACANCY,EXAMINEE WERE HIGH e.g.JHARKHAND(58),UTTARAKHAND(75).
ACCORDING TO ESTIMATE PEOPLE OBC CATEGORY PERCENTAGE ABOVE 65% ARE 100% IN.
Q3.I AM SC/ST WITH 58%(COMBINED PERCENTAGE),WHAT ARE MY CHANCE?
ANS:-THIS IS THE CATEGORY WHERE LOTS OF DISCRIMINATION IN EVERY STATE.
SC IN SOME STATE GOT VACANCY MORE THAN OBC:-(MORE CHANCE OF SELECTION)
ORISSA,PUNJAB,UTTARAKHAND etc.
STATE GOT VERY LESS VACANCY IN ST CATEGORY:-(LESS CHANCE OF SELECTION)
TN,BIHAR,KERALA,UP,PUNJAB.
STATE HAVING MORE VACANCY IN ST CATEGORY:-(MORE CHANCE OF SELECTION)
GUJARAT,JHARKHAND,MP,NEWDELHI.
ACCORDING TO ESTIMATE PEOPLE SC/ST CATEGORY PERCENTAGE ABOVE 60% ARE 100% IN.
NOTE:-THIS IS ONLY SUGGESTION BASED ON internet CALCULATIONS & SURVEY.
April 14, 2013
ibps clerk II combined score final safe cut off for up bank clerk allotment
friends here i guess the final cutoff for up state
i think this will be safe cutoff for uttar pradesh
GEN -64
OBC- 61.50
SC – 58
ST – 54
Would be safe score in UP
lsse 1 ya 2 no. kam b ho sakta hai but above nhi hoga.
i think this will be safe cutoff for uttar pradesh
GEN -64
OBC- 61.50
SC – 58
ST – 54
Would be safe score in UP
lsse 1 ya 2 no. kam b ho sakta hai but above nhi hoga.
April 12, 2013
IBPS Clerk II 2012 -ibps decleare total statewise,catogorywise seats fill in preferance and attotment in may 2013
IBPS release official Notice regarding Number of vacancies for Clerks - II CWE in which 19 public sector Banks are participating. There are Total 39690 Clerical Staff Vacancies to be filled from among the candidates successful in Common Online Test held in Dwcember 2012 and Common Interviews held in April 2013. The Ratio is expected to be 2:1 (One out of two candidates successful in Online Test + Interviews is expected to get the Job).
The candidates will be registering their preferences among participating banks from April 15 - 22 and Allotments are expected to be made in First Week of May 2013.
IBPS has issued an Official Notice regarding vacancies and preference Registration. Fo convenience, a summazrized form of vacancies in different states is as shown below :-
The candidates will be registering their preferences among participating banks from April 15 - 22 and Allotments are expected to be made in First Week of May 2013.
IBPS has issued an Official Notice regarding vacancies and preference Registration. Fo convenience, a summazrized form of vacancies in different states is as shown below :-
combined interview marks analysis for ibps clerk 2 2012-13 april
ARE YOU CONFUSED OF YOU RESULT?
WE ARE TRYING TO PREDICT THE PROBABLE CUTOFF MARKS FOR IBPS CLERK PART-2.AS PER OUR CALCULATION THE CUTOFF WILL BE AROUND 65%(+3 OR -3 POSSIBLE).
TOTAL SELECTED CANDIDATES in INTERVIEW-70000
TOTAL VACANCY-32,000
SELECTION RATIO=1:3(OUT OF EVERY 3 CANDIDATES APPEARING IN INTERVIEW ATLEAST ONE WILL BE SELECTED).
BUT SOME CANDIDATES WILL SURELY BE ABSENT DUE TO EITHER SELECTION IN OTHER BANKING OR COMPETITIVE EXAMS.SO,
NEW RATIO:-1:2(OUT OF EVERY 2 CANDIDATES APPEARING IN INTERVIEW ATLEAST ONE WILL BE SELECTED).
CALCULATION BASIS:-
IF SUPPOSE ANYONE GOT 125 OUT OF 200 IN IBPS CLERK PART-2 WRITTEN EXAM & 60 IN COMMON INTEVIEW THEN HIS MARKS PERCENTAGE IS=
125/200*80=50
&
75/100*20=15
THEN TOTAL IS 65%.
SO IDEAL MARKS ARE 125 IN WRITTEN EXAM & 75 IN COMMON INTERVIEW FOR AN IBPS CLERK PART 2 ASPIRANTS.
Q1. CAN I CLEAR WITH VERY GOOD INTERVIEW?
ANS:-IF ANY ONE GIVE VERY GOOD INTERVIEW THEN MAXIMUM I BELIEVE HE/SHE CAN SCORE 85-90 i.e.
118/200*80=47.2
&
90/100*20=18
THEN TOTAL IS 65.2%.
Q2. IF CUTOFF IS BASED IBPS PO i.e. 62.2%?
ANS:-
IF SUPPOSE ANYONE GOT 120 OUT OF 200 IN IBPS CLERK PART-2 WRITTEN EXAM & 60 IN COMMON INTEVIEW THEN HIS MARKS PERCENTAGE IS=
120/200*80=50
&
62/100*20=12.4
THEN TOTAL IS 62.4%.
HOPE ALL IBPS CLERK PART-2 EXAMINER OF 2013 GOT THERE ANSWER.
BEST OF LUCK TO EVERYONE.
WE ARE TRYING TO PREDICT THE PROBABLE CUTOFF MARKS FOR IBPS CLERK PART-2.AS PER OUR CALCULATION THE CUTOFF WILL BE AROUND 65%(+3 OR -3 POSSIBLE).
TOTAL SELECTED CANDIDATES in INTERVIEW-70000
TOTAL VACANCY-32,000
SELECTION RATIO=1:3(OUT OF EVERY 3 CANDIDATES APPEARING IN INTERVIEW ATLEAST ONE WILL BE SELECTED).
BUT SOME CANDIDATES WILL SURELY BE ABSENT DUE TO EITHER SELECTION IN OTHER BANKING OR COMPETITIVE EXAMS.SO,
NEW RATIO:-1:2(OUT OF EVERY 2 CANDIDATES APPEARING IN INTERVIEW ATLEAST ONE WILL BE SELECTED).
CALCULATION BASIS:-
IF SUPPOSE ANYONE GOT 125 OUT OF 200 IN IBPS CLERK PART-2 WRITTEN EXAM & 60 IN COMMON INTEVIEW THEN HIS MARKS PERCENTAGE IS=
125/200*80=50
&
75/100*20=15
THEN TOTAL IS 65%.
SO IDEAL MARKS ARE 125 IN WRITTEN EXAM & 75 IN COMMON INTERVIEW FOR AN IBPS CLERK PART 2 ASPIRANTS.
Q1. CAN I CLEAR WITH VERY GOOD INTERVIEW?
ANS:-IF ANY ONE GIVE VERY GOOD INTERVIEW THEN MAXIMUM I BELIEVE HE/SHE CAN SCORE 85-90 i.e.
118/200*80=47.2
&
90/100*20=18
THEN TOTAL IS 65.2%.
Q2. IF CUTOFF IS BASED IBPS PO i.e. 62.2%?
ANS:-
IF SUPPOSE ANYONE GOT 120 OUT OF 200 IN IBPS CLERK PART-2 WRITTEN EXAM & 60 IN COMMON INTEVIEW THEN HIS MARKS PERCENTAGE IS=
120/200*80=50
&
62/100*20=12.4
THEN TOTAL IS 62.4%.
HOPE ALL IBPS CLERK PART-2 EXAMINER OF 2013 GOT THERE ANSWER.
BEST OF LUCK TO EVERYONE.
April 11, 2013
32,453 BANK CLERK FROM IBPS CLERK-II and analysis of mark of clerk 2..
crucial news for all the passed out candidate of IBPS CLEKR-II. Public sector bank is going to fill the gap of manpower and branch exapnasion by recruiting 32,453 clerk from IBPS ONLINE CWE which was held in december 2012 . Around 60,000 passed in interview.candidates, who have cleared online examinations of IBPS CLERK 2012-13 and this time candidates have the chance to be selected in one of the 20 Public sector bank.
The Institute of Banking Personnel Selection said 20 public sector banks, excluding SBI, will hire 22,415 officers and 32,453 clerks for branch expansion and fill the gap created by retirement. SBI is also recently hiring candidates to fill up 1,500 officer positions. "Public sector banks are in the forefront of accommodating fresh graduates with a clear focus on rural expansion of branches," said NS Rajan, partner and global leader at Ernst & Young
April 9, 2013
IBPS Clerk-2 Interview Results Declared
Your wait for total scores of IBPS Clerk-II written and interview scores is over as IBPS has declared the interview results for IBPS Clerk-II.
Please Note:
To view your result you need your Registration No.OR Roll No. AND Date of Birth OR password.
Important dates to look at:
* Notification of vacancies of each of the Participating Banks will be out in Last week of April 2013
* Registration of order of preference for banks by the successful candidates: First week of May 2013
* Allotment: Last week of May 2013
Please post your score in the comments.
April 7, 2013
CUTOFF FOR CWE combined IBPS CLERK II score 2013
IBPS CLERK PART-2 INTERVIEW ENDS LAST WEEK & EVERYONE IS WANT TO CONFORM HIS/HER SEAT BASED ON THERE MARKS.WE HAVE LAST WEEK GIVEN A SIMPLE CALCULATION ON WHICH EVERYONE CAN GUESS THERE RESULTS BUT THAT WAS ONLY ESTIMATED MARKS & CUTOFFS.ORIGINAL WILL BE GIVEN BY IBPS CLERK PART-2 RESULT CAN BE IN NEXT WEEK(FRIDAY-SATURDAY).
TODAY,WE WILL CLEAR SOME DOUBT REGARDING CUTOFFS:-
EVERYONE IS ASKING SAME QUESTION ABOUT CUTOFF METHOD EITHER IT WILL BE STATEWISE OR ALL INDIA BASIS?
THERE ARE 2 POSSIBILITY.SINCE THERE IS NO CONFORMATION WE WILL BE DEALING WITH ALMOST CORRECT POSSIBILITY & ITS SCENARIOS.
CASE1 :-CUTOFF IS STATE BASED?
ANSWER:- IF CUTOFF WILL BE STATE BASED THEN EVERYONE HAS CHANCE BASED ON VACANCIES.IT MAY BE MORE AT ONE PLACE & LESS AT SECOND.
IF VACANCIES ARE MORE AT ONE PLACE THEN RATIO WILL SURELY BE DECREASED TO 1:1 INSTEAD OF 2:1.
CUTOFF WILL BE LOW,SINCE VACANCIES ARE MORE.
IF VACANCIES ARE LESS THEN OBVIOUSLY COMPETITION WILL INCREASE & CUTOFF WILL BE HIGH.
CASE2:-CUTOFF WILL BE SAME FOR ALL OVER INDIA?
ANSWER:-IF IT SAME AT EVERYWHERE.EVERYONE WILL GET EQUAL OPPURTUNITY BUT SOME N-E & OTHER STATE WHERE WRITTEN CUTOFF WERE VERY LOW LIKE 95-100 FOR GENERAL.THEY WILL FACE SEVERE HEAT.CUTOFF WILL BE COMPETITIVE THEN & BANK WISE VACANCY WILL DECIDE FUTURE FOR PARTICULAR STATES CANDIDATES.
NOW THIS ARE 2 CASES BUT WE ARE EXPECTING 2ND ONE TO BE CHOOSEN BY IBPS PEOPLE.IF THEY PURELY BELIEVE IN COMPETITION.
HOPE THIS POST WILL CLEAR YOUR DOUBT & IF YOU HAVE ANY DOUBT KINDLY POST YOUR QUERY WE WILL TRY TO ANSWER IN BEST POSSIBLE.
WRITTEN MARKS CUTOFF FOR ALL STATES:-
Andhra Pradesh - 118 (GEN and OBC), SC (95)
Assam - 95 (GEN and OBC), 85 (SC)
Bihar - 115 (GEN)
Chattisgarh - 116 (GEN)
Delhi - 120 (Gen)
Gujarat - 95 (GEN), 85 (OBC)
Himachal Pradesh - 113 (Gen)
Haryana - 117 (Gen), 112 (OBC)
J&K - 115 (Gen)
Jarkhand - 120 (Gen)
Karnataka - 120 (GEN)
Kerala - 121 (OBC & Gen)
Maharashtra - 105 (GEN), 95 (OBC), 95 (SC)
Madhya Pradesh - 120 (GEN)
Odisha - 120 (GEN and OBC), 85 (SC)
Punjab - 115(Gen)
Rajasthan - 120 (Gen), 109 (SC)
Tamilnadu - 95 (OBC), 85 (SC)
Uttarakhand - 117 (GEN)
UP - 116 (Gen), 115 (OBC), 104 (SC)
WB - 119 (GEN), 105 (SC), 110 (OBC)
TODAY,WE WILL CLEAR SOME DOUBT REGARDING CUTOFFS:-
EVERYONE IS ASKING SAME QUESTION ABOUT CUTOFF METHOD EITHER IT WILL BE STATEWISE OR ALL INDIA BASIS?
THERE ARE 2 POSSIBILITY.SINCE THERE IS NO CONFORMATION WE WILL BE DEALING WITH ALMOST CORRECT POSSIBILITY & ITS SCENARIOS.
CASE1 :-CUTOFF IS STATE BASED?
ANSWER:- IF CUTOFF WILL BE STATE BASED THEN EVERYONE HAS CHANCE BASED ON VACANCIES.IT MAY BE MORE AT ONE PLACE & LESS AT SECOND.
IF VACANCIES ARE MORE AT ONE PLACE THEN RATIO WILL SURELY BE DECREASED TO 1:1 INSTEAD OF 2:1.
CUTOFF WILL BE LOW,SINCE VACANCIES ARE MORE.
IF VACANCIES ARE LESS THEN OBVIOUSLY COMPETITION WILL INCREASE & CUTOFF WILL BE HIGH.
CASE2:-CUTOFF WILL BE SAME FOR ALL OVER INDIA?
ANSWER:-IF IT SAME AT EVERYWHERE.EVERYONE WILL GET EQUAL OPPURTUNITY BUT SOME N-E & OTHER STATE WHERE WRITTEN CUTOFF WERE VERY LOW LIKE 95-100 FOR GENERAL.THEY WILL FACE SEVERE HEAT.CUTOFF WILL BE COMPETITIVE THEN & BANK WISE VACANCY WILL DECIDE FUTURE FOR PARTICULAR STATES CANDIDATES.
NOW THIS ARE 2 CASES BUT WE ARE EXPECTING 2ND ONE TO BE CHOOSEN BY IBPS PEOPLE.IF THEY PURELY BELIEVE IN COMPETITION.
HOPE THIS POST WILL CLEAR YOUR DOUBT & IF YOU HAVE ANY DOUBT KINDLY POST YOUR QUERY WE WILL TRY TO ANSWER IN BEST POSSIBLE.
WRITTEN MARKS CUTOFF FOR ALL STATES:-
Andhra Pradesh - 118 (GEN and OBC), SC (95)
Assam - 95 (GEN and OBC), 85 (SC)
Bihar - 115 (GEN)
Chattisgarh - 116 (GEN)
Delhi - 120 (Gen)
Gujarat - 95 (GEN), 85 (OBC)
Himachal Pradesh - 113 (Gen)
Haryana - 117 (Gen), 112 (OBC)
J&K - 115 (Gen)
Jarkhand - 120 (Gen)
Karnataka - 120 (GEN)
Kerala - 121 (OBC & Gen)
Maharashtra - 105 (GEN), 95 (OBC), 95 (SC)
Madhya Pradesh - 120 (GEN)
Odisha - 120 (GEN and OBC), 85 (SC)
Punjab - 115(Gen)
Rajasthan - 120 (Gen), 109 (SC)
Tamilnadu - 95 (OBC), 85 (SC)
Uttarakhand - 117 (GEN)
UP - 116 (Gen), 115 (OBC), 104 (SC)
WB - 119 (GEN), 105 (SC), 110 (OBC)
March 27, 2013
BANKING Q&A FOR IBPS CLERK COMMON INTERVIEW
IBPS CLERK COMMON INTERVIEW ARE GOING ON & THEY ARE MAINLY FOCUSING ON BASIC BANKING QUESTION AS THIS IS THERE DAY TO DAY WORK.WE ARE PROVIDING WITH SOME IMPORTANT QUESTIONS THAT WERE ASKED BY SOME OF THE INTERVIEWER IN THE EXAMINATION.
Q1. WHAT IS BANK?
ANS:-BANK IS A FINANCIAL INSTITUTION WHICH ACCEPT DEPOSIT & GIVE LOAN TO NEEDY PEOPLE & IN BETWEEN EARN THE INTEREST DIFFERENCE.
Q2. WHAT ARE DIFFERENT TYPES OF BANK THAT EXIST IN INDIA?
ANS:-
1.NATIONALIZED BANK(OWNED BY GOVT. E.G. VIJAYA BANK,UBI,CANARA BANK)
2.PRIVATE BANKS(OWNED BY PRIVATE ENTITY E.G. ICICI BANK,AXIS BANK)
3.FOREIGN BANKS(OWNED BY FOREIGN BANKS E.G.STANCHART,CITI BANK)
4.RRB(REGIONAL RURAL BANK)
5.CO-OPERATIVE BANKS
6.INDUSTRIAL BANKS ETC.
Q3.WHO IS RBI & WHAT IS ITS ROLE?
ANS:- RBI MEANS RESERVE BANK OF INDIA IT IS THE CENTRAL BANK OR BANK OF BANK IN INDIA.
ROLES:-
a.ISSUE CURRENCY NOTE
b.ACT AS BANKER BANK BOTH FOR BANKS & GOVT.
c.MAINTAIN FOREIGN EXCHANGE RESERVE & CURRENCY RATE FLUCTUATION.
d.MAINTAIN CRR,SLR,REPO,REVERSE REPO RATE VIA MONETARY POLICIES.
Q4.WHAT IS RRB?WHAT IS ITS ROLE?
ANS:-RRB:-REGIONAL RURAL BANK.IT WORK UNDER SUPERVISION OF NABARD
E.G. PRAGATI GRAMEEN BANK ETC.
STAKE:-50% BY CENTRAL GOVT.,35% BY SPONSORED BANK,15% STATE GOVT.
ROLE:-
IT PROVIDE LOAN & ADVANCES TO FARMER IN RURAL AREA FOR AGRICULTURAL DEVELOPMENT.
Q5. WHAT IS CO-OPERATIVE BANK?
ANS:-IT IS THE BANK WHICH PROVIDE LOAN TO THE SME SECTOR INDUSTRIES.
Q6. WHAT IS INDUSTRIAL BANK?
ANS:-BANK WHICH GIVES BIG LOAN TO LARGE SCALE INDUSTRIES E.G. IDBI
Q7. WHAT IS RTGS & NEFT?
ANS:-RTGS:-REAL TIME GROSS SETTELMENT(SETTELED IN REAL TIME MIN. 2LAC+)
NEFT(NATIONAL ELECTRONIC FUND TRANSFER)
Q8.WHAT DIFFERENT TYPES OF ACCOUNT?
ANS:-
a.SAVING ACCOUNT:-THE MOST COMMON FORM OF ACCOUNTS BY WHICH NORMAL TRANSACTION TAKE PLACE.IT WILL GIVE A MODERATE AMOUNT OF INTEREST WITH LIMITED CHEQUE FACILITY.
b.CURRENT ACCOUNT:-IT IS BEST FOR BUSINESS PURPOSE AS THIS ALLOW UNLIMITED TRANSACTION BUT WITH ANY INTEREST PAYMENT ON IT.
c.FIXED DEPOSIT ACCOUNT:-IT GENERALLY PROVIDE WITH HIGH INTEREST RATE WITH FIXED MATURITY PAYMENT AMOUNT & DATE.
d.RECURRING DEPOSIT:-IT IS ACCOUNT BY WHICH A FIXED AMOUNT IS PAID PERIODICALLY.IT PROVIDE WITH SAME RATE OF INTEREST AS FD.
Q9.WHAT ARE DIFFERENT TYPES OF CHEQUE?
ANS:-CHEQUE IS A NEGOTIABLE INSTRUMENT CONTAINING CONDITIONAL PAYMENT TO ONLY BEARER.
a.ACCOUNT PAYEE CHEQUE:-IT IS PAID TO THE BEARER ONLY.
b.POST DATED CHEQUE:-DATE ON CHEQUE BEYOND TODAYS DATE FOR THE BEARER.
c.STALE CHEQUE:-CHEQUE VALID FOR 6 MONTH AFTER THAT THEY ARE INVALID.
d.PAR CHEQUE:-PAYABLE ANYWHERE IN INDIA.
e.MULTICITY CHEQUE:-PAYABLE IN ANY BRANCH OF THE PARTICULAR BANK.
Q10.WHAT IS INFLATION,DEFLATION?
ANS:-INFLATION:-IT LET THE LOOSE OF VALUE OF MONEY.IT IS INDICATION OF THE GENERAL PRICE LEVEL RISE IN ALL THE ESSENTIAL SUBSTANCES.
DEFLATION:-IT WILL LET THE INCREASE IN VALUE OF MONEY.IT IS OPPOSITE OF INFLATION.
Q1. WHAT IS BANK?
ANS:-BANK IS A FINANCIAL INSTITUTION WHICH ACCEPT DEPOSIT & GIVE LOAN TO NEEDY PEOPLE & IN BETWEEN EARN THE INTEREST DIFFERENCE.
Q2. WHAT ARE DIFFERENT TYPES OF BANK THAT EXIST IN INDIA?
ANS:-
1.NATIONALIZED BANK(OWNED BY GOVT. E.G. VIJAYA BANK,UBI,CANARA BANK)
2.PRIVATE BANKS(OWNED BY PRIVATE ENTITY E.G. ICICI BANK,AXIS BANK)
3.FOREIGN BANKS(OWNED BY FOREIGN BANKS E.G.STANCHART,CITI BANK)
4.RRB(REGIONAL RURAL BANK)
5.CO-OPERATIVE BANKS
6.INDUSTRIAL BANKS ETC.
Q3.WHO IS RBI & WHAT IS ITS ROLE?
ANS:- RBI MEANS RESERVE BANK OF INDIA IT IS THE CENTRAL BANK OR BANK OF BANK IN INDIA.
ROLES:-
a.ISSUE CURRENCY NOTE
b.ACT AS BANKER BANK BOTH FOR BANKS & GOVT.
c.MAINTAIN FOREIGN EXCHANGE RESERVE & CURRENCY RATE FLUCTUATION.
d.MAINTAIN CRR,SLR,REPO,REVERSE REPO RATE VIA MONETARY POLICIES.
Q4.WHAT IS RRB?WHAT IS ITS ROLE?
ANS:-RRB:-REGIONAL RURAL BANK.IT WORK UNDER SUPERVISION OF NABARD
E.G. PRAGATI GRAMEEN BANK ETC.
STAKE:-50% BY CENTRAL GOVT.,35% BY SPONSORED BANK,15% STATE GOVT.
ROLE:-
IT PROVIDE LOAN & ADVANCES TO FARMER IN RURAL AREA FOR AGRICULTURAL DEVELOPMENT.
Q5. WHAT IS CO-OPERATIVE BANK?
ANS:-IT IS THE BANK WHICH PROVIDE LOAN TO THE SME SECTOR INDUSTRIES.
Q6. WHAT IS INDUSTRIAL BANK?
ANS:-BANK WHICH GIVES BIG LOAN TO LARGE SCALE INDUSTRIES E.G. IDBI
Q7. WHAT IS RTGS & NEFT?
ANS:-RTGS:-REAL TIME GROSS SETTELMENT(SETTELED IN REAL TIME MIN. 2LAC+)
NEFT(NATIONAL ELECTRONIC FUND TRANSFER)
Q8.WHAT DIFFERENT TYPES OF ACCOUNT?
ANS:-
a.SAVING ACCOUNT:-THE MOST COMMON FORM OF ACCOUNTS BY WHICH NORMAL TRANSACTION TAKE PLACE.IT WILL GIVE A MODERATE AMOUNT OF INTEREST WITH LIMITED CHEQUE FACILITY.
b.CURRENT ACCOUNT:-IT IS BEST FOR BUSINESS PURPOSE AS THIS ALLOW UNLIMITED TRANSACTION BUT WITH ANY INTEREST PAYMENT ON IT.
c.FIXED DEPOSIT ACCOUNT:-IT GENERALLY PROVIDE WITH HIGH INTEREST RATE WITH FIXED MATURITY PAYMENT AMOUNT & DATE.
d.RECURRING DEPOSIT:-IT IS ACCOUNT BY WHICH A FIXED AMOUNT IS PAID PERIODICALLY.IT PROVIDE WITH SAME RATE OF INTEREST AS FD.
Q9.WHAT ARE DIFFERENT TYPES OF CHEQUE?
ANS:-CHEQUE IS A NEGOTIABLE INSTRUMENT CONTAINING CONDITIONAL PAYMENT TO ONLY BEARER.
a.ACCOUNT PAYEE CHEQUE:-IT IS PAID TO THE BEARER ONLY.
b.POST DATED CHEQUE:-DATE ON CHEQUE BEYOND TODAYS DATE FOR THE BEARER.
c.STALE CHEQUE:-CHEQUE VALID FOR 6 MONTH AFTER THAT THEY ARE INVALID.
d.PAR CHEQUE:-PAYABLE ANYWHERE IN INDIA.
e.MULTICITY CHEQUE:-PAYABLE IN ANY BRANCH OF THE PARTICULAR BANK.
Q10.WHAT IS INFLATION,DEFLATION?
ANS:-INFLATION:-IT LET THE LOOSE OF VALUE OF MONEY.IT IS INDICATION OF THE GENERAL PRICE LEVEL RISE IN ALL THE ESSENTIAL SUBSTANCES.
DEFLATION:-IT WILL LET THE INCREASE IN VALUE OF MONEY.IT IS OPPOSITE OF INFLATION.
IMPORTANT FINANCIAL TERM KNOWLEDGE:-GAAR
UNDERSTAND GAAR FULL VERY IMPORTANT FOR IBPS CLERK 2012-13 EXAM:-
What is full form of GAAR ? or What is GAAR ?
The full form of GAAR is : General Anti-Avoidance Rules
What is GAAR in simple terms ?
Tax Avoidance is an area of concern across the world. The rules are framed in different countries to minimize such avoidance of tax. Such rules in simple terms are known as " General Anti Avoidance Rules " or GAAR. Thus GAAR is a set of general rules enacted so as to check the tax avoidance.
Why News for GAAR has been prominent in India in recent times ?
News for GAAR has been in prominence in last few years as Indian Government has taken initiative to introduce GAAR or General Anti Avoidance Rules with a view to increase tax collections.
Background for GAAR :
Lord Tomlin has well said "Every man is entitled to order his affairs so that tax attaching under the appropriate Acts is less than it otherwise would be" (IRC v Duke of Westminster). People adopt various methods so that they can reduce their total tax liability.
The methods adopted to reduce their tax liability can be broadly put into four categories : "Tax Evasion"; "Tax Avoidance", "Tax Mitigation" and "Tax Planning". The difference between these four methods some times becomes blurred owing to the perception of the tax authorities and / or tax payer. [Click Here to read the difference between Tax Evasion", "Tax Avoidnace" , "Tax Mitigation, Tax Planning].
GAAR refers to the second category i.e. tax avoidance.
What is Difference between GAAR and SAAR ?
Anti Avoidance Rules are broadly divided into two categories namely "General" and "Specific". Thus, legislation dealing with "General" rules are termed as GAAR, whereas legislation dealing with "Speicifc avoidnace are termed as "SAAR"
In India till recently SAAR was in vogue i.e. laws were amended to plug specific loopholes as and when they were noticed or were misused enmasse. However, now Indian tax authorities wants to move towards GAAR but are facing severe opposition as tax payers fear that these will be misused by tax authorities by giving arbitrary and wide interpretations. We can say SAAR being more specific provide certainty to taxpayers where as GAAR being general in nature can be misused and is subject to arbitrary interpretation by tax authorities.
GAAR Definition :
GAAR is a concept which generally empowers the Revenue Authorities in a country to deny the tax benefits of transactions or arrangments which do not have any commercial substance or consideration other than achieving the tax benefit. Whenever revenue authorities question such transactions, there is a conflict with the tax payers. Thus, different countries started making rules so that tax can not be avoided by such transactions. Australia introduced such rules way back in 1981. Later on countries like Germany, France, Canada, New Zealand, South Africa etc too opted for GAAR. However, countries like USA and UK have adopted a cautious approach and have not been aggressive in this regard.
Thus, in nutshell we can say that GAAR usually consists of a set of broad rules which are based on general principles to check the potential avoidance of the tax in general, in a form which can not be predicted and thus can not be provided at the time when it is legislated.
GAAR in India
In India, the real discussions on GAAR came to light with the release of draft Direct Taxes Code Bill (popularly known as DTC 2009) on 12th August 2009. It contained the provisions for GAAR. Later on the revised Discussion Paper was released in June 2010, followed by tabling in the Parliament on 30th August, 2010, a formal Bill to enact the law known as the DirectTaxes Code 2010. The same was to be made applicable wef 1st April, 2012. However, owing to negative publicity and pressures from various groups, GAAR was postponed to at least 2013, and was likely to be introduced alongwith the Direct Tax Code (DTC) from 1st April 2013. Moreover, an Expert Committee has been set by Prime Minister (Manmohan Singh) in July 2012 to vet and rework the GAAR guidelines issued in June 2012. The latest reports (September 2012) indicates, it may not be implemented even for 3 years i.e. this will be postponed for 3 years (2016-17). Some of recent developments about GAAR are :-
(a) 16th March, 2012 : Finance Minister, Pranab Mukherjee takes a tough stand and announces that the government will crack down on tax avoidance effective from fiscal year 2012-13
(b) 7th May, 2012 : Finance Minister, Pranab Mukherjee forced to eat his words and agreed to defer GAAR by a year as his announcements spooked oversea investors
(c) 28th June, 2012 : Finance Ministry releases first draft on GAAR; There is wide criticism of the provisions.
(d) 14th July, 2012 : PM, Manmohan Singh, forms review committee under Parthasarathi Shome, for preparing a second draft by 31st August and final guidelines by 30th September, 2012
(e) 1st September, 2012 : Shome Committee recommends to defer GAAR by three years. It also recommends some more investor friendly measures
What is the Basic Criticism of GAAR ? Why GAAR is dreaded ?
Many provisions of GAAR have been criticised by various people. However, the basic criticism of GAAR provisions is that it is considered to be too sweeping in nature and there was a fear (considering poor record of IT authorities in India) that Assessing Officers will apply these provisions in a routine manner (or read misuse) and harass the general honest tax payer too. There is only a fine distinction between Tax Avoidance and Tax Mitigation, as any arrangement to obtain a tax benefit can be considered as an impermissible avoidance arrangement by the assessing officer. Thus, there was a hue and cry to put checks and balances in place to avoid arbitrary application of the provisions by the assessing authorities. It was felt that there is a need for further legislative and administrative safeguards and at least a minimum threshold limit for invoking GAAR should be introduced so that small time tax payers are not harassed.
Two Examples to Understand GAAR provisions : (Source GAAR Committee)
Example 1:
Facts:
A business sets up an undertaking in an under developed area by putting in substantial investment of capital, carries out manufacturing activities therein and claims a tax deduction on sale of such production/manufacturing. Is GAAR applicable in such a case ?
Interpretation:
There is an arrangement and one of the main purposes is a tax benefit. However, this is a case of tax mitigation where the tax payer is taking advantage of a fiscal incentive offered to him by submitting to the conditions and economic consequences of the provisions in the legislation e.g., setting up the business only in the under developed area. Revenue would not invoke GAAR as regards this arrangement.
Example 2:
Facts:
A business sets up a factory for manufacturing in an under developed tax exempt area. It then diverts its production from other connected manufacturing units and shows the same as manufactured in the tax exempt unit (while doing only process of packaging there). Is GAAR applicable in such a case ?
Interpretation:
There is an arrangement and there is a tax benefit, the main purpose or one of the main purposes of this arrangement is to obtain a tax benefit. The transaction lacks commercial substance and there is misuse of the tax provisions. Revenue would invoke GAAR as regards this arrangement.
What is full form of GAAR ? or What is GAAR ?
The full form of GAAR is : General Anti-Avoidance Rules
What is GAAR in simple terms ?
Tax Avoidance is an area of concern across the world. The rules are framed in different countries to minimize such avoidance of tax. Such rules in simple terms are known as " General Anti Avoidance Rules " or GAAR. Thus GAAR is a set of general rules enacted so as to check the tax avoidance.
Why News for GAAR has been prominent in India in recent times ?
News for GAAR has been in prominence in last few years as Indian Government has taken initiative to introduce GAAR or General Anti Avoidance Rules with a view to increase tax collections.
Background for GAAR :
Lord Tomlin has well said "Every man is entitled to order his affairs so that tax attaching under the appropriate Acts is less than it otherwise would be" (IRC v Duke of Westminster). People adopt various methods so that they can reduce their total tax liability.
The methods adopted to reduce their tax liability can be broadly put into four categories : "Tax Evasion"; "Tax Avoidance", "Tax Mitigation" and "Tax Planning". The difference between these four methods some times becomes blurred owing to the perception of the tax authorities and / or tax payer. [Click Here to read the difference between Tax Evasion", "Tax Avoidnace" , "Tax Mitigation, Tax Planning].
GAAR refers to the second category i.e. tax avoidance.
What is Difference between GAAR and SAAR ?
Anti Avoidance Rules are broadly divided into two categories namely "General" and "Specific". Thus, legislation dealing with "General" rules are termed as GAAR, whereas legislation dealing with "Speicifc avoidnace are termed as "SAAR"
In India till recently SAAR was in vogue i.e. laws were amended to plug specific loopholes as and when they were noticed or were misused enmasse. However, now Indian tax authorities wants to move towards GAAR but are facing severe opposition as tax payers fear that these will be misused by tax authorities by giving arbitrary and wide interpretations. We can say SAAR being more specific provide certainty to taxpayers where as GAAR being general in nature can be misused and is subject to arbitrary interpretation by tax authorities.
GAAR Definition :
GAAR is a concept which generally empowers the Revenue Authorities in a country to deny the tax benefits of transactions or arrangments which do not have any commercial substance or consideration other than achieving the tax benefit. Whenever revenue authorities question such transactions, there is a conflict with the tax payers. Thus, different countries started making rules so that tax can not be avoided by such transactions. Australia introduced such rules way back in 1981. Later on countries like Germany, France, Canada, New Zealand, South Africa etc too opted for GAAR. However, countries like USA and UK have adopted a cautious approach and have not been aggressive in this regard.
Thus, in nutshell we can say that GAAR usually consists of a set of broad rules which are based on general principles to check the potential avoidance of the tax in general, in a form which can not be predicted and thus can not be provided at the time when it is legislated.
GAAR in India
In India, the real discussions on GAAR came to light with the release of draft Direct Taxes Code Bill (popularly known as DTC 2009) on 12th August 2009. It contained the provisions for GAAR. Later on the revised Discussion Paper was released in June 2010, followed by tabling in the Parliament on 30th August, 2010, a formal Bill to enact the law known as the DirectTaxes Code 2010. The same was to be made applicable wef 1st April, 2012. However, owing to negative publicity and pressures from various groups, GAAR was postponed to at least 2013, and was likely to be introduced alongwith the Direct Tax Code (DTC) from 1st April 2013. Moreover, an Expert Committee has been set by Prime Minister (Manmohan Singh) in July 2012 to vet and rework the GAAR guidelines issued in June 2012. The latest reports (September 2012) indicates, it may not be implemented even for 3 years i.e. this will be postponed for 3 years (2016-17). Some of recent developments about GAAR are :-
(a) 16th March, 2012 : Finance Minister, Pranab Mukherjee takes a tough stand and announces that the government will crack down on tax avoidance effective from fiscal year 2012-13
(b) 7th May, 2012 : Finance Minister, Pranab Mukherjee forced to eat his words and agreed to defer GAAR by a year as his announcements spooked oversea investors
(c) 28th June, 2012 : Finance Ministry releases first draft on GAAR; There is wide criticism of the provisions.
(d) 14th July, 2012 : PM, Manmohan Singh, forms review committee under Parthasarathi Shome, for preparing a second draft by 31st August and final guidelines by 30th September, 2012
(e) 1st September, 2012 : Shome Committee recommends to defer GAAR by three years. It also recommends some more investor friendly measures
What is the Basic Criticism of GAAR ? Why GAAR is dreaded ?
Many provisions of GAAR have been criticised by various people. However, the basic criticism of GAAR provisions is that it is considered to be too sweeping in nature and there was a fear (considering poor record of IT authorities in India) that Assessing Officers will apply these provisions in a routine manner (or read misuse) and harass the general honest tax payer too. There is only a fine distinction between Tax Avoidance and Tax Mitigation, as any arrangement to obtain a tax benefit can be considered as an impermissible avoidance arrangement by the assessing officer. Thus, there was a hue and cry to put checks and balances in place to avoid arbitrary application of the provisions by the assessing authorities. It was felt that there is a need for further legislative and administrative safeguards and at least a minimum threshold limit for invoking GAAR should be introduced so that small time tax payers are not harassed.
Two Examples to Understand GAAR provisions : (Source GAAR Committee)
Example 1:
Facts:
A business sets up an undertaking in an under developed area by putting in substantial investment of capital, carries out manufacturing activities therein and claims a tax deduction on sale of such production/manufacturing. Is GAAR applicable in such a case ?
Interpretation:
There is an arrangement and one of the main purposes is a tax benefit. However, this is a case of tax mitigation where the tax payer is taking advantage of a fiscal incentive offered to him by submitting to the conditions and economic consequences of the provisions in the legislation e.g., setting up the business only in the under developed area. Revenue would not invoke GAAR as regards this arrangement.
Example 2:
Facts:
A business sets up a factory for manufacturing in an under developed tax exempt area. It then diverts its production from other connected manufacturing units and shows the same as manufactured in the tax exempt unit (while doing only process of packaging there). Is GAAR applicable in such a case ?
Interpretation:
There is an arrangement and there is a tax benefit, the main purpose or one of the main purposes of this arrangement is to obtain a tax benefit. The transaction lacks commercial substance and there is misuse of the tax provisions. Revenue would invoke GAAR as regards this arrangement.
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