Current Affairs Banking

Glossary   Access Time: Access time is the time from the start of one access of the storage device to the time when the next access can be started.   Accessory: An Accessory is a device attached to a host computer, but not part of it, and is more or less dependent on the host. It expands the host's capabilities, but does not form part of the core computer architecture. Examples are computer printers, image scanners, tape drives, microphones, loudspeakers, webcams, and digital cameras.   Active Cell: The cell that continues the value being used or modified in a spreadsheet program, and that is highlighted by the cell pointer. Also known as current cell.   Active Window: The window in Micrddosoft Windows with which the user may interact.   Accumulator: The computer register in which the result of an arithmetic or logic operation is formed (related to arithmetic and logic unit).   Analog Computer: A computer in which numerical data are represented by measurable physical variables, such as electrical.   Antivirus: Computer antivirus refers to a software program that can protect your computer from unwanted viruses and remove any that penetrate your computer's defenses.   Artificial Intelligence: Artificial intelligence (AI) is the intelligence of machines and the branch of computer science that aims to create it. AI textbooks define the field as "the study and design of intelligent agents" where an intelligent agent is a system that perceives its environment and takes actions that maximize its chances of success.   ASCII (American Standard Code for Information Interchange): ASCII, a code for information exchange between computers made by different companies; a string of 7 binary digits represents each character; used in most microcomputers   Abstraction: The separation of the logical properties of data or function from its implementation in a computer program.   Address: A number, character, or group of characters which identifies a given device or a storage location which may contain a piece of data or a program step. To refer to a device or storage location by an identifying number, character, or group of characters.   Algorithm: A finite set of well-defined rules for the solution of a problem in a finite number of steps. Any sequence of operations for performing a specific task.   Alphanumeric: Pertaining to a character set that contains letters, digits, and usually other characters such as punctuation marks.   Analog: Pertaining to data signals in the form of continuously variable wave form physical quantities; e.g. pressure, resistance, rotation, temperature, voltage. Contrast with digital.   Analog device: A device that operates with variables represented by continuously measured quantities sacs. as pressures, resistances, rotations, temperatures, and voltages.   Analog-to-digital converter: Input related devices which translate an input device's sensor analog signal to the corresponding digital signals needed by the computer   Android: It is linux based operating system designed primarily for touch screen mobile devices such as smartphones and tablets computers.   Application more...

Technologies and Terms used in Internet Banking   Online banking was long considered to be a tremendous new technology breaking offering that would not only enhance the banks 'capabilities in terms of services offered on the go but also as a possible change in various types of operational and Strategic business models. Now almost all the banks across the globe are there to offer online banking with different capabilities in their respective fields. With ever-increasing competition, banks have devised new ways to maintain their revenue streams. The core of the idea, however, still remains to offer more value, convenience and satisfaction to the customer.   INTERNET BANKING TECHNOLOGIES ATM (Automated teller machine) ATM is known as an automated banking machine cash machine, cashpoint, or cashline machine that is an electronic telecommunications device which enables the customers of a financial institution to perform financial transactions without the need for a human cashier, clerk or bank teller. On most modem ATMs, the customer is identified by inserting the ATM card with a magnetic stripe or a plastic smart card with a chip that has a unique card number and some security information such as an expiration date or CWC (CW). Authentication is provided by the customer entering a personal identification number (PIN). Using an ATM, customers can access their bank deposit or credit accounts in order to make a variety of transactions such as cash withdrawals, check balances, or credit mobile phones. If the currency being withdrawn from the ATM is different from that in which the bank account is denominated the money will be converted at an official exchange rate. Thus, ATMs often provide the best possible exchange rates for foreign travellers, and are widely used for this purpose.   Mobile banking It is a service provided by a bank that allows its customers to conduct financial transactions remotely using a mobile device such as a mobile phone or tablet. It uses software, usually called an app, provided by the bank. Mobile banking is usually available on a 24-hour basis. Some bank has restrictions on which accounts may be accessed through mobile banking,, as well as a limit on the amount that can be transacted. Transactions through mobile banking may include obtaining account balances and lists of latest transactions, electronic bill payments, and funds transfers between a customer's or another's accounts. Some apps also enable copies of statements to be downloaded and sometimes printed at the customer's premises; and some banks charge a fee for mailing hardcopies of bank statements. Model of mobile banking According to the model mobile banking can be said to consist of three inter-related concepts:
  • Mobile financial information services
  • Mobile accounting
  • Mobile brokerage
  Most services in the categories designated accounting and brokerage are transaction-based. The non-transaction based services of an informational nature are however essential for conducting transactions - for instance, balance inquiries might be needed before committing a money remittance. The mobile accounting and brokerage services are more...

Latest Development in IT Related to Banking   With the globalization trends world over it is difficult for any nation big or small, developed or developing, to remain isolated from what is happening around. For a country like India, which "s one of the most promising emerging markets, such isolation is nearly impossible. More particularly in the area of Information technology, where India has definitely an edge over its competitors, remaining away or uniformity of the world trends is untenable. Financial sector in general and banking industry in particular is the largest spender and beneficiary from information technology. This endeavours to relate the international trends in it with the Indian banking industry. The last lot includes possibly all foreign banks and newly established Private sector banks, which have fully computerized all the operations. With these variations in the level of information technology in Indian banks, it is useful to take account of the trends in Information technology internationally as also to see the comparative position with Indian banks. The present article starts with the banks perception when they get into IT up gradation. All the trends in IT sector are then discussed to see their relevance to the status of Indian banks. The government and the regulator have undertaken several measures to strengthen the Indian banking sector.
  • In July 2016, the government allocated Rs 22,915 crore (US$ 3.41 billion) as capital infusion in 13 public sector banks, which is expected to improve their liquidity and lending operations, and shore up economic growth in the country.
  • To reduce the burden of loan repayment on farmers, a provision of Rs 15,000 crore (US$ 2.2 billion) has been made in the Union Budget 2016-17 towards interest subvention.
  • Under Pradhan Mantri Jan DhanYojna (PMJDY), 250.5 million accounts! Have been opened and 192.2 million RuPay debit cards have been issued as of October 12, 2016. These new accounts have mustered deposits worth almost Rs 44,480 crore (US$ 6.67 billion).
  • To provide relief to the state electricity distribution companies, Government of India has proposed to their lenders that 75 per cent of their loans be converted to state government bonds in two phases by March 2017
  • The Reserve Bank of India (RBI) has released the Vision 2018 document, aimed at encouraging greater use of electronic payments by all sections of society by bringing down paper-based transactions, increasing the usage of digital channels, and boosting the customer base for mobile banking.
  • The Reserve Bank of India (RBI) has issued guidelines for priority sector lending certificates (PSLCs), according to which banks can issue four different kinds of PSLCs—those for the shortfall in agriculture lending, lending to small and marginal farmers, lending to micro enterprises and for overall lending targets - to meet their priority sector lending targets.
  • The Reserve Bank of India (RBI) has allowed additional reserves to be part of tier-1 or core capital of banks, such as revaluation reserves linked to property holdings, foreign currency translation reserves and deferred tax assets, which more...

  • Fundamentals of Computer   C- Common; O-Operating; M-Machine; P-Particularly; U-Used for; T-Trade; E-Education; R-Research In this age of computers there is no such activity that cannot be achieved without computers. Computer has become an indispensable and multipurpose tool. We are breathing in the computer age and gradually computer has become such a desire necessity of life that it is difficult to imagine life without it. This book will help you to gain an understanding of the basic as well as advanced concepts of computers. It will cover foundational study of the computer hardware, software, operating systems. Internet Technology, DBMS (Database Management system) & computer Network & Its security, or more.   CONCEPT OF COMPUTER System a computer is an advanced electronic device that takes raw data as input from the user and processes this data under the control of set of instructions (called program) and gives the result (output) and saves output for the future reference and usage     To know about the working of a computer, first need to understand various terms such as Data, Processing and Information. First of all, let’s start with three basic terms:-
  • Data: Data is a collection of basic facts and figure without any sequence. This data is also called as raw data. When the data is collected as facts and figures, there is no meaning to it, at that time, for example, name of people, names of employees etc.
  • In other words computer data is information processed or stored by a computer. This information may be in the form of text documented images, audio clip, software program me or other type of data.
  • Processing: Processing is the set of instructions given by the user to the related data that was collected earlier to output meaningful information. The computer does the required processing by making the necessary calculations, comparisons and decisions.
  • Information: Information is the end point or the final output of any processed work. This meaningful output data is called information.
  •   CHARACTERSTICS OF COMPUTER The major characteristics of computers are the following:
    • Speed: A powerful computer is capable of executing about 3 million calculations per second.
    • Accuracy: A computer's accuracy is consistently high; if there are errors, they are due to errors in instructions given by the programmer.
    • Reliability: The output generated by the computer is very reliable as long as the data is reliable.
    • Memory/Storage Capacity: The computer can store large volumes of data and makes the retrieval of data an easy task.
    • Versatility: The computer can accomplish many different things. It can accept information through various input-output devices, perform arithmetic and logic operations, generate a variety of outputs in a variety of forms, etc.
    • Automation: Once the instructions are fed into computer it works automatically without any human intervention.
    • Diligence: A computer will never fail to perform its task due to distraction or laziness.
    • Convenience: Computers are usually easy to access, and allow people more...

    Components of Computer System   Any computer system consists of the four basic units; namely input unit, storage unit, central processing unit and output unit. Central Processing unit consists of Arithmetic logic unit and Control unit. A computer performs five major functions no matter what size they are of as follows:
    • Data or Instructions are accepted as input,
    • Data and Instruction are stored
    • Processing of data as per the instructions,
    • Control of all operations inside the computer
    • Result in the form of output.
        BASIC COMPONENTS OF COMPUTER SYSETEMS Following are the various components of a computer system-   Input Unit Data and instructions must enter the computer system before any computation can be performed on the supplied data. The input unit that links the external environment with the computer system performs this task. An input unit performs the following functions:
    • It accepts (or reads) the list of instructions and data from the outside world.
    • It converts these instructions and data in computer acceptable format.
    • It supplies the converted instructions and data to the computer system for further processing.
      Output Unit  The job of an output unit is just the reverse of that of an input unit. It supplied information and results of computation to the outside world. Thus it links the computer with the external environment. As computers work with binary code, the results produced are also in the binary form. Hence, before supplying the results 10 the outside world, it must be converted to human acceptable (readable) form. This task is accomplished by snits called output interfaces. Following functions are performed by an output unit.
    • It accepts the results produced by the computer which are in coded form and hence cannot be easily understood by
      • It converts these coded results to human acceptable (readable) form.
      • It supplied the converted results to the outside world.
      Storage Unit The data and instructions that are entered into the computer system through input units have to be stored inside the computer before the actual processing starts. Similarly, the results produced by the computer after processing must also be kept somewhere inside the computer system before being passed on to the output units. The Storage Unit or the primary / main storage of a computer system is designed to do all these things. It provides space for storing data and instructions, space for intermediate results and also space for the final results. The specific functions of the storage unit are to store:
    • All the data to be processed and the instruction required for processing (received from input devices).
    • Final results of processing before these results are released to an output device.
    • Intermediate result of processing.
      Central Processing Unit The main unit inside the computer is the CPU. This unit is responsible for all events inside the computer. It controls all internal and external devices, performs "Arithmetic more...

    Memory Organisation   Computer organization is the way in which the components are built in computers whereas Computer architecture is the science of integrating those components to achieve a level of functionality and performance this chapter we shall study a high level view of computer architecture that may be concerned with how the central processing unit (CPU) acts and how it uses computer memory. Computer Architecture is the field of study of selecting and interconnecting hardware components to create computers that satisfy functional performance and cost goals. It refers to those attributes of the computer system that are visible to a programmer and have a direct effect on the execution of a program. Computer Architecture concerns with machine Organization, interfaces, application, technology, measurement & simulation that Includes:
    • Instruction set
    • Data formats
    • Principle of Operation
    • Features (organization of programmable storage, registers used, interrupts mechanism, etc.) la short, it is the combination of Instruction Set Architecture, Machine Organization and the related hardware.
      INTERCONNECTION OF UNITS CPU sends data, instructions and information to the components inside the computer as well as to the peripherals and devices attached to it. Bus is a set of electronic signal pathways that allows information and signals to travel between components inside or outside of a computer. The features and functionality of a bus are as follows
    • A bus is a set of wires used for interconnection, where each wire can carry one bit of data.
    • A computer bus can be divided into two types; internal bus and external bus.
    • The internal bus connects components inside the motherboard like, CPU and system memory. It is also called the system bus.
    • The external bus connects the different external devices; peripherals, expansion slots, I/O ports and drive connections to the rest of computer. It is also referred to as the expansion bus.
    • The command to access the memory or the I/O device is carried by the control bus.
    • The address of I/O device or memory is carried by the address bus. The data to be transferred is carried by me data bus.
      INTRUCTION CYCLE The instruction cycle represents the sequence of events that takes place as an instruction is read from memory and executed. A simple instruction cycle consists of the following steps
    • Fetching the instruction from the memory.
    • Decoding the instruction for operation.
    • Executing the instruction.
    • Storing in memory.
      INTRUCTIONS FORMAT Computer understand instructions only in terms of Os and 1s, which is called the machine language. A computer program is a set of instruction that describe the steps to be performed for carrying out a computational task- The processor must have two inputs; instructions and data. The instruction tell the processor what actions are needed to be performed on the data. An instruction is divided into two parts; operation (op-code) and operand. The op-code represents action that the processor more...

    Computer Software   Computer Programs are called as Computer software, or just software. A computer Software is set of programs that guides the hardware through its job. The computer program is the non-tangible component of a computer system. A Computer software is different from computer hardware that is the physical component of a computer system. Computer hardware and software work hand in hand cannot function without the other.   TYAPES OF SOFTWARE Computer software’s are mainly divided into two parts: (a) System Software   (b) Application Software     (A) System Software System software is the software which manages and controls the hardware components and allows interaction between the hardware and the other different types of software. The computer's operating system is a type of system software. Device drivers are also a part of this category. System software can be separated into two different categories: Operating systems and Utility software.   OPERATING SYSTEM: A program that acts as an intermediary between a user of a computer and the computer hardware is called an operating system. The operating system is an essential component of the system software in a computer system. Application programs usually require an operating system to function. Operating systems can be found on almost any device that contains a computer—from cellular phones and video game consoles to supercomputers and web servers. For example: UNIX, MS-DOS, WINDOWS, 98/2000/xp/7. Functions of an operating system - The basic functions of an operating system are:
  • Booting the computer
  • Performs basic computer tasks eg managing the various peripheral devices eg mouse, keyboard
  • III. Provides a user interface, e.g. command line, graphical user interface (GUI)
  • Handles system resources such as computer's memory and sharing of the central processing unit (CPU) time by various applications or peripheral devices
  • Provides file management which refers to the way that the operating system manipulates, stores, retrieves and saves data.
  • Booting the computer: The process of starting or restarting the computer is known as booting. A cold boot is when you turn on a computer that has been turned off completely. A warm boot is the process of using the operating system to restart the computer.
  • Performs basic computer tasks: The operating system performs basic computer tasks, such as managing the various peripheral devices such as the mouse, keyboard and printers. For example, most operating systems now are plug and play which means a device such as a printer will automatically be detected and configured without any user intervention.
  • III. Provides a user interface: A user interacts with software through the user interface. The two main types of user interfaces are: command line and a graphical user interface (GUI). With a command line interface, the user interacts with the operating system by typing commands to perform specific tasks. An example of a command line interface is DOS (disk operating system). With a graphical user interface, the user interacts with the operating system by using a more...

    Computer Hardware   Computer hardware is the collection of physical parts of a computer system. This includes the computer case, monitor, keyboard, and mouse. It also includes all the parts inside the computer case, such as the hard disk drive, motherboard, video card, and many others. Computer hardware is what you can physically touch. All computers have a common structure. These components can be very different in terms of expense, speed and quality, but every computer has them to one degree or another. The main components are as follows:
    • Form Factor: This is the physical configuration of the computer: desktop, laptop, tablet or netbook
    • The Processor: This is the 'brain' of the computer
    • Data Storage: This is where your data are stored, as well as all the programmers and other files that your computer needs to run.
    • The Operating System: The OS is the software that runs the computer on the lowest level - Windows,
    • Macintosh or Linux are the most popular.
    • Monitor: This is the viewing screen that you use to operate the computer. It is a very important part of the digital photography computer.
  • The Processor: The Processor (CPU) is the "brain" of your computer, the thing that carries out the tasks you give it. The speed that the computer can run an operation is largely determined by how fast the processor can make calculations. The CPU (Central Processing Unit), a complete computation engine that is fabricated on a single chip, is the computer's brain. It is sometimes referred to as the central processor, microprocessor, or just processor.
  • Two typical components of a CPU are: (1) The Arithmetic Logic Unit (ALU), which performs arithmetic and logical operations. (2) The Control Unit, which extracts instructions from memory and decodes and executes them, calling on the ALU when necessary. There are three parts to determining how feat a processorcan do its work: clock speed, number of cores, and chip generation.
    • Clock Speed: Every processor has a speed rating, currently measured in Gigahertz or GHz. The higher the number, the faster it runs. In theory, a processor that is 2GHz will be twice as fast as a 1 GHz.
    • Number of Cores: A core refers to part of the processor that actually does the calculations. One way that computer chip makers have increased the speed is by adding additional cores. A dual core processor can run operations twice as fast as a single core processor of the same design and clock speed. Multiple cores can make some computing tasks go quickly, and for others, there is no speed increase at all. In many cases, both clock speed and number of cores is less important than the chip generation.
    • Chip Generation: Every few years, the companies that make processor chips will redesign the entire chip architecture to make them faster. Sometimes the clock speed of the newer chips will be slower, even as the real-world more...

    Database Management System   Database Management Systems (DBMS) are specially designed software which is used to create and maintain a database. It acts as an interface between users and a database or multiple databases. DBMS is comprised of tables that made up of rows called records and columns called fields. The important processes catered by existing DBMS are as below:
    • Denning or constructing a data structure which is also called as data definition such as creating a table, deleting a table or modifying the existing one.
    • Updating like inserting a record into a table, deleting or modifying a record.
    • Retrieval or extracting information from the database by user queries for user applications, reporting or any other business purposes.
    • Administration includes the activities like enforcing data security, maintaining data integrity, data backup and recovery, granting & revoking accesses, performance monitoring, disaster management etc. These activities are generally carried out by a DBA (database administrator).
      SOME OF THE DATABASE MANAGEMENT SYSTEM ARE (1) Microsoft Access: This is the database management system developed by Microsoft. It stores data in its own format based on the Access Jet Database Engine. It also has the facilities like importing or linking directly to data stored in other databases and applications. (2) MySQL: MySQL is open source database management system, one of the most popular dbms on the web. It is reliable, fast and also flexible. (3) Oracle: Developed by Oracle corporation. It is object relational database management system. The original version of Oracle software was developed by Software Development Laboratories (SDL). Oracle is regarded to be one of the safe DBMS. (4) Microsoft SQL Server: Microsoft developed this relational database server. The primary function of this software is to store and retrieve the data as requested by other applications, whether those applications are on the same computer or running on other computers across the network (including internet).   COMPONENTS OF DATABASE SYSTEM The database system can be divided into four components.
    • Users: Users may be of various type such as DB administrator, System developer and End users.
    • Database application: Database application may be Personal, Departmental, Enterprise and internal.
    • DBMS: Software that allow users to define, create and manages database access. Ex : Mysql, Oracle etc
    • Database: Collection of logical data.
      DATABASE TABULAR MODEL Database in tabular form contain. Row and Column database.   Row database In a database, a row also called a tuple represents a single row, implicitly structured data item in a table. A database table can be thought of as consisting of rows and columns or fields. Each row in a table represent a set of related data, and every tuple in the table has the same structure. Example: A table that represents companies, each row would represent a single company. Columns might represent things like company name, company street address, whether the company is publicly held, its TIN number, VET number, etc.   Column database In a database, more...

    Computer Network   A computer Network is a group of computer systems and other computing hardware devices that are linked together through communication channels to facilitate communication and resource-sharing among a wide range of users.                                                                                Generally, networks are distinguished based on their geographical span. A network can be as small as distance between your mobile phone and its Bluetooth headphone and as large as the Internet itself, covering the whole geographical world, i.e. the Earth.   TYPES OF COMPUTER NETWORKS     There are many types of Networks including:
  • Personal Area Network (PAN): A Personal Area Network or simply PAN, is smallest network which is very personal to a user. This may include Bluetooth enabled devices or infra-red enabled devices. PAN has connectivity range up to 10 meters. PAN may include wireless computer keyboard and mouse, Bluetooth enabled headphones, wireless printers and TV remotes for examples.
  • Local Area Network (LAN): A computer network spanned inside a building and operated under single administrative system is generally termed as Local Area Network. Usually, Local Area Network covers an organization such as offices, schools, college/universities etc. Number of systems may vary from as least as two to as much as 16 million LAN provides a useful way of sharing resources between end users. Resources like Printers, File Servers, Scanners and internet is easy sharable among computers. Local Area Networks are composed of inexpensive networking and routing equipment. It may contains local servers serving file storage and other locally shared applications. It mostly operates on private IP addresses and generally do not involve heavy routing. LAN uses either Ethernet or Token-ring technology. Ethernet is most widely employed LAN technology and uses Star topology while Token-ring is rarely seen. Data transfer rate in LAN is of the order 10 to 100 megabits per second (Mbps).
  • Metropolitan Area Network (MAN): MAN, generally expands throughout a city such as cable TV network. It can be in form of Ethernet, Token-ring, ATM or FDDI. Metro Ethernet is a service which is provided by ISPs. This service enables its users to expand their Local Area Networks. For example, MAN can help an organization to connect all of its offices in a City. Backbone of MAN is high-capacity and high-speed fiber optics. MAN is works in between Local Area Network and Wide Area Network. MAN provides uplink for LANs to WANs or Internet.
  • Wide Area Network (WAN): As name suggests, this network covers a wide area which may span across provinces and even a whole country. Generally, telecommunication networks are Wide Area Network. These networks provides connectivity to MANs and LANs. Equipped with very high speed backbone, WAN uses very expensive network equipment. WAN may use advanced technologies like Asynchronous Transfer. Mode (ATM), Frame Relay and SONET. WAN may be managed under by more than one administration.
  • Virtual Private Network (VPN): VPN is a network that is constructed by using public wires more...

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