Federal Bank Recruitment for Officers (Scale I) & Clerks Posts 2018

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Federal Bank has published Advertisement for below mentioned Posts 2018. Other details like age limit, educational qualification, selection process, application fee and how to apply are given below.

Posts:
  • Officers (Scale I)
  • Office Assistants

Educational Qualification:

  • Officers :
    • Post-Graduates with minimum 60% marks in any discipline from a recognized University or any other Institutions established by an Act of Parliament or declared to be deemed as a University under Section 3 of UGC Act, 1956.
    • Candidates should have completed their Post-Graduation during the academic years 2016-17 or 2017-18 (passing out year of their post-graduation should be 2017 or 2018).
    • Candidates should have completed their academics (from 10th onwards) in regular mode of study.
    • Candidates should have a consistent academic record of minimum 60% marks from class 10th onwards (for 10th, 12th, Graduation and Post-Graduation).

  • Clerks
    • Graduates or Post-Graduates with minimum 60% marks in any discipline from a recognized University or any other Institutions established by an Act of Parliament or declared to be deemed as a University under Section 3 of UGC Act, 1956.
    • Candidates with the highest qualification as Graduation should have completed their Graduation during the academic years 2016-17 or 2017-18 (passing out year should be 2017 or 2018).
    • Candidates with the highest qualification as Post-Graduation should have completed their Post-Graduation during the academic years 2016-17 or 2017-18 (passing out year should be 2017 or 2018).
    • Candidates should have completed their academics (from 10th onwards) in the regular mode of study.
    • Candidates should have a consistent academic record of minimum 60% marks from class 10th onwards (Graduates- 60% for 10th, 12th & Graduation) & (Post Graduates - 60 % for 10th, 12th, Graduation & Post–Graduation).

Age Limit: (As on 01.07.2018)

  • Officers – Candidates shall not exceed 26 years as on 01.07.2018 (candidates should be born on or after 01.07.1992) for being eligible to apply for the post of Officers.
  • Clerks – Candidates shall not exceed 24 years as on 01.07.2018 (candidates should be born on or after 01.07.1994) for being eligible to apply for the post of Clerks.

Application Fee :

  • Officers :
    • SC / ST : Rs. 350/-
    • General / Others: Rs. 700/-
  • Clerks :
    • SC / ST : Rs. 250/-
    • General / Others: Rs. 500/- 

Important Note :

Candidates are eligible to apply only if they have completed their Graduation or Post-Graduation in the stipulated academic years. In the case of candidates whose final results of the qualifying examination is yet to be published by the University / Institution by 27.08.2018, they are eligible to apply only if, they:

Have cleared all the papers of previous year/semesters of qualifying examination and secured minimum marks of 60% as on 27.08.2018 and all papers pertaining to the subsequent semester(s)/ years should be cleared invariably in the first chance itself with an aggregate of 60% marks in the qualifying examination.

Submit their final certificates/results at the time of joining or as demanded by the Bank

Important Dates:

Opening Date of Online Registration Gateway/Remittance of Application fee : 14th August 2018
Closing Date of Online Registration Gateway/Remittance of Application fee : 27th August 2018
Proposed Date of Online Aptitude Test for Officers and Clerks : 9th September 2018
How to Apply: Interested Candidates may Apply Online Through official Website.

Apply Online: Click Here

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Quarterly Results of Public sector banks for Q1FY19

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Cosmos Bank loses Rs 94 crore in malware attack, How hackers siphoned?

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Few outside Maharashtra would have heard of Cosmos Bank. But hackers did — and they targeted the over-a-century-old Pune-headquartered co-operative bank in a multi-pronged attack to transfer over Rs 94 crore over multiple days to foreign bank accounts. 

About Rs 78 crore was withdrawn in more than 12,000 ATM transactions in 28 countries between 3 pm and 10 pm, India time, on Saturday, Cosmos Bank said. Another 2,800 transactions were made in different places within India, amounting to about Rs 2.5 crore, during the same period. On Monday, Rs 13.5 crore was transferred to a Hong Kong-based entity using the Society for Worldwide Interbank Telecommunications (SWIFT) facility.

Milind Kale, chairman of the 112-year-old cooperative bank, said the illegal withdrawals were enabled by a malware attack which authenticated debit card transactions bypassing the bank’s computerised core banking system (CBS). This would have been preceded by another cyber attack, resulting in data theft of hundreds of the bank’s debit cards. The information on these debit cards would then have been cloned on to fake cards used in physical withdrawal of cash from ATMs across the world.

Payment experts say the fraud involved breaching the firewall in servers that authorize ATM transactions. After this, a proxy server was created and transactions authorized by the fake or proxy server. This meant that the ATMs were being directed to release money without checking whether the cards were genuine or whether there was a bank account. 


Target 1: The first attack, on August 11, is thought to have targeted the bank’s debit cards and the ATM Switch — a system that lets, among other things, withdraw cash from, and change card pins of, your bank account at an ATM of a different bank. Most banks in India uses the National Financial Switch (NFS) ATM system of the NPCI.



Method: The hackers are thought to have cloned VISA and RuPay (of NPCI’s) debit cards to make the transactions, and attacked the switch to verify them. Bank says the cards were not customers’, but dummy cards — suggesting hackers “linked” the dummy cards to the bank using the compromised switch. A total of 14,849 transactions of value over Rs 80 crore — 12,000 transactions of Rs 78 crore on VISA cards outside India and the rest of RuPay cards — were made using the method. VISA says it was “able to identify the issue quickly, enabling the financial institution to take appropriate action”. 

Target 2: Once this was flagged, hackers, on August 13, attacked another payment system banks use: SWIFT, which validates international money transfer. On August 13, hackers transferred Rs 13.94 crore from Cosmos to an account with a Hong Kong-bank.

The hunt: The bank has registered an FIR at the local police station; and says the preliminary probe shows the attack originated in Canada. But the sophistication of the attacks suggests the hackers are no amateurs, and thus less likely to leave a trace. (Hackers use proxy servers to mask the location of their computers)

Cosmos Bank chairman Milind Kale said, “The bank turned off its servers and all internet banking applications after noticing several erratic and abnormally high transactions. These transactions happened over two hours and 13 minutes and were spread across 28 countries where cloned cards were used to debit several amounts ranging from $100 (Rs 6,900) to $2,500 (Rs 1.7 lakh).”


‘Customer money is safe in their accounts’

Cosmos Bank reassured its customers on Tuesday that their money was safe in their accounts and they would be able to access it digitally and via ATMs once the systems are restored in a few days. For now, the bank has made provisions for NEFT and RTGS payments through its branches. Pay-in slip payment and cheque disbursals will continue as earlier. The bank said the fraud appears to have originated in Canada. 

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BOB Financial Recruitment for Various Posts 2018

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BOB Financial Solutions Limited has published Advertisement for below mentioned Posts 2018. Other details like age limit, educational qualification, selection process, application fee and how to apply are given below.


Posts:



How to Apply: Eligible candidates may send their application & necessary documents to given address in the advertisement.



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Last Date: 04-09-2018
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Allahabad Bank posts big loss on higher provisioning for bad loans

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Allahabad Bank on Tuesday posted June-quarter loss of Rs 1,944 crore against a profit of Rs 28.8 crore a year ago. The interest earned by the bank during the first quarter stood at Rs 4,600 crore, compared with Rs 4,148 crore in the same period of the previous financial year.
Provisions and contingencies rose to Rs 2,763 crore during the April-June quarter, from Rs 1,335 crore in the year-ago period. Provisions for non-performing assets (NPAs) during the quarter came in at Rs 2,950 crore versus Rs 1,687 crore a year ago
Gross NPAs stood at 15.97% of the total advances against 15.96% in the previous quarter, while Net NPAs were at 7.32% against 8.04%.
On Friday, State Bank of India (SBI) posted a loss for the third consecutive quarter after setting aside funds to cover losses on its bond portfolio and increased gratuity. The country’s top lender by assets turned to a loss of Rs 4,875.85 crore in the June quarter, from a net profit of Rs 2,005.53 crore a year earlier. 

The bank’s gross NPAs rose to 10.69% of total advances in the June quarter, from 9.97% a year earlier, and 10.91% in the March quarter. Another public sector lender, Punjab National Bank (PNB), which reported a $2-billion fraud in February, also declared a June-quarter loss of Rs 940 crore, against a profit of Rs 343 crore a year ago. Recovery of non-performing assets, cost-cutting measures including shuttering international and domestic branches and better loan margins helped the bank improve on its March quarter performance, where it had reported a record loss of Rs 13,417 crore.
The central government on Monday gave the Central Bureau of Investigation (CBI) and the Reserve Bank of India (RBI) the go ahead to prosecute and initiate criminal charges against former Punjab National Bank (PNB) managing director and chief executive officer (CEO) Usha Ananthasubramanian.
Ananthasubramanian, who was the CEO of Allahabad Bank, was on Monday removed from service with immediate effect, according to people familiar with the development. Allahabad Bank board had earlier stripped Ananthasubramanian of all executive powers after the CBI had named her in the scam.
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IDBI Bank reports loss for 7th quarter in a row

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IDBI Bank Ltd on Tuesday reported a loss for the seventh consecutive quarter as the lender continued to set aside higher provisions for its bad loans. The bank would have reported higher loss if there was no tax write back. Net loss for the quarter stood at Rs 2,409.89 crore against Rs 853.01 crore in the same quarter last year. It reported a tax write back of Rs 1,745.09 crore against Rs 3,39.61 crore a year ago.
Provisions and contingencies surged 157.33% to Rs 5,239.07 crore in the quarter from Rs 2,035.96 crore a year ago. On a quarter-on-quarter basis, they declined 50.31% from Rs 10,544.34 crore.
Gross non-performing assets (NPAs) rose 15.21% to Rs 57,806.84 crore at the end of the June quarter from Rs 50,173.20 crore in the same quarter last year.
As a percentage of total loans, gross NPAs stood at 30.78% as compared to 27.95% in the previous quarter and 24.11% in the year-ago quarter. Net NPAs were at 18.76% in the June quarter compared to 16.69% in the previous quarter and 15.8% in the same quarter last year.
Net interest income (NII), or the core income a bank earns by giving loans, was up 16.89% to Rs 1,638.62 crore versus Rs 1,401.90 crore last year. Other income was at Rs 642.95 crore, down 6.3% from Rs 686.26 crore a year ago.
Recently, IDBI Bank has received government approval for an acquisition of 51% stake by Life Insurance Corp. of India. LIC’s IDBI Bank acquisition would be through preferential issue/open offer of equity, subject to regulatory approval and compliance with laws. Post the transaction, IDBI Bank would become a subsidiary of the insurer. LIC, at present, holds 7.98% stake in the bank.
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Government Dismisses Former Managing Director Named In PNB Scam

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Ms Ananthasubramanian was, three months back, divested of all her powers as MD of Allahabad Bank, after being named in a CBI charge-sheet in the Rs 14,000 crore PNB fraud case.
The government today dismissed Usha Ananthasubramanian, former managing director of scam hit Punjab National Bank and Allahabad Bank, from service, according to an official notification.
Ms Ananthasubramanian was, three months back, divested of all her powers as MD of Allahabad Bank, after being named in a CBI charge-sheet in the Rs 14,000 crore PNB fraud case but had continued to be an employee of the bank.

She was to superannuate today but has been dismissed from the service.
Ms Ananthasubramanian had enjoyed leadership roles in PNB in two stints. She headed the bank between August 2015 and May 2017, before moving to Allahabad Bank. She was executive director at PNB from July 2011 to November 2013.
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Corporation bank Q1 profit rises to 41%

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Corporation Bank standalone net profit rises 41.25% in the June 2018 quarter

Total Operating Income decline 5.21% to Rs 4190.59 crore.
Net profit of Corporation Bank rose 41.25% to Rs 84.96 crore in the quarter ended June 2018 as against Rs 60.15 crore during the previous quarter ended June 2017. 

Total Operating Income declined 5.21% to Rs 4190.59 crore in the quarter ended June 2018 as against Rs 4420.90 crore during the previous quarter ended June 2017.
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Quarterly Results of Private sector banks for Q1FY19

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