The Seven-Day Current Account Switch Service Explained

On the sixteenth of September this year, the UK’s Payments Council launched their new Current Account Switch Service. This system has been implemented in order to simplify and speed up the old method of transferring a current account between banks or building societies. So why has this scheme been introduced, what exactly does the Switch Guarantee cover, is it working well in its initial stages, and how do things look for the future of the new system?

The New Current Account Switch Service

Customers, small businesses, charities and trusts are able to use this service for free when they want to change their current account (or checking account) to a new financial institution. The ease with which the process is designed to work is supposed to lead to more competition between banks and other financial providers like building societies. The system should result in a wider choice for customers, and the opportunity for new financial institutions to start up in business and have a viable chance to generate a large customer base.

The Independent Commission on Banking recommended two years ago that an initiative like this should come into play in the UK because most of the business was being attracted and held by the four big banks. Changing banks was difficult, unreliable and slow, so a new process was designed to speed things up and limit the hassle.

The Switch Guarantee

The system is securely backed by both banks and building societies who are participating in the Current Account Switch Guarantee. This allows customers to choose their own switching date, and promises to take care of everything else within seven days as opposed to the usual eighteen to thirty day timeframe.

Payments both going out and coming in will be managed by the new provider, any funds in the previous account will be transferred on the switch date, and accidental payments made to the old account will automatically be transferred to the new account for thirteen months after the account has been opened. Senders of incorrect payments will be notified of the customer’s new account details.

If problems of any sort arise during the seven day transition period, the customer will be contacted before the set date of the switch. If difficulties occur and there is a loss to the account holder, any interest (lost or paid) will be refunded, as well as charges incurred on either the previous or new account relating to the problem.

For those wanting to change financial providers for their current account, the system has been strongly marketed as hassle-free, to the extent that the customer doesn’t even have to notify their bank that they are going to switch to another one. The new provider does everything on their client’s behalf. Some banks are happy to process all the information online, and a new card and PIN number are sent to the customer, making the change as painless as possible.

How Is The New Switch System Going?

Commercial Banking In India.

Prime Services offered by a commercial bank include processing of payments by way of telegraphic transfer, issuing bank drafts and bank cheques, accepting money on term deposits, lending money through overdraft or through installment, providing letter of credit, safe keeping of documents, currency exchanges thereby enacting the role of a financial supermarket. The Commercial Bank lays more importance on loans that it provides to its customers. These loans are Secured Loans, Mortgage Loans & Unsecured Loans. A secured loan is one in which a borrower pledges some asset as collateral against the loan. A mortgage loan is granted to purchase property against security provided to the bank until the mortgage is paid of in full. The mortgage or loan can be repaid in easy installments. Unsecured loans are granted without any specific securities, under marketing packages like credit cards, debit cards, corporate bonds, etc. All in all a commercial bank raises funds by collecting deposits from businesses and consumers via checkable deposits, savings deposits, and time (or term) deposits & loans it to businesses and consumers. It also buys corporate bonds and government bonds. Its primary liabilities are deposits and primary assets are loans and bonds.

Commercial Banking in India categorizes itself into project finance & working capital. In the case of Project Finance banks in India offers long & short term loans to business houses to set up their projects. These kinds of loans are issued after approval from banks core credit validating committee. The Project Finance segment in the commercial department is highly competitive with different players in the department trying to get the best deals done by enticing different corporate houses and business organizations to opt for the loan by providing lucrative offers. Working Capital or Capital Funds are issued by banks to corporate or business houses to meet diverse needs and requirements of the business community. Working capital finance is specialized line of business and is largely dominated by the commercial banks.

Commercial Banking in India saw dramatic changes in the last decade after Indias integration with world economy. These economic reforms and the entry of private players saw nationalized banks revamp their service and product portfolio to incorporate new, innovative customer-centric schemes. Marketing and brand building programs were also given a new thrust in the new liberalized banking scenario. Promotional budgets were hiked to cater to the new and large discerning target audience. To meet the personalized needs of the customer and in order to differentiate its services, banks repositioned themselves in specialized fields, like housing loans, car finance, educational loans etc. to optimally service the customer. As of today Commercial Banking in India dominates other areas of banking such as retail banking and investing banking, solely due to influx and the term called installments that lures the customers to opt for loans to satisfy their business needs whether it is corporate or personal needs in terms of a mortgage loan. Commercial banking in India has definitely brought in a new dimension to regulation of finances in the Indian market.

The Importance Of Retail Bank Kpi

Retail banking has also faced challenges in the matter of measuring abstract and quantifiable indicators. Performance metrics in retail banking can be done using KPI. The retail bank KPI can be utilized to measure the progress of a certain organization belonging to the retail banking industry. This measure is intended to help retail banks improve their progress towards the achievement of their organizational goals.

What are the key performance indicators of a retail bank?

The KPI in retail banking may include the factors that have links to the performance of a retail bank. There may be several KPI to measure the retail banks performance. However, it is important to keep the number of KPI to a minimum and to choose KPIs that have direct attributes to its performance.

The total cash deposits held in a month and the average annual deposits held can be used as KPIs, to measure the performance of a retail bank in the matter of attracting deposits from customers.

Other factors that may be considered as KPIs in retail bank:

1) Average number of depositors per retail bank branch

2) Average withdrawals made by each depositor

3) Ratio of active depositor to dormant depositor

4) Average number of default borrowers in a year

5) Average number of credit cards issued by the retail bank

6) Rate of borrowing risk

7) Rate of default risk

8) Average number of customers served in a day

9) Average number of closed bank accounts

Income, cost, investment returns, interest margin, and company assets are other retail bank KPIs. Retail banks may have their own system for recognizing KPI. The KPIs are measurable and quantifiable and must be identified to assess the performance of retail banks.

Certain attributes are also considered to recognize a measurable factor for performance evaluation as KPI. Identifying KPIs is crucial and must be taken into careful consideration before they can be used as objects for performance measurement. The acronym SMART can be used for identifying KPIs. KPIS must be specific, measurable, achievable, relevant and time-bound.

Aside from the aforementioned KPIs that can be used for performance measure, one of the measurement framework used in financial institutions is the risk-adjusted return on capital.

The risk-adjusted return on capital or RAROC can be utilized to make analysis on risk-adjusted financial performance. It is the ratio of return to capital with adjustment on certain risks involved in the process. As it is known in the financial world, capital invested on high-risk form of investment is likely to yield higher returns than risk-free investments.

RAROC can be used as a retail bank KPI alongside with other indicators.

The retail bank has an exact environment to identify KPI. Normally, banks are organized financial institutions that abide the law in making transactions with depositors, clients, and customers. And normally, the KPI is used to detect problems so the entity can formulate solutions based on the given indicators used to measure its performance.

Top management of retail banks analyze KPIs to accurately measure the performance. Retail bank KPI;s can be financial or non-financial metrics. There may be involvement of demographics of clients and depositors, rates of turnovers, backgrounds of bank personnel, and technology used.

Nedbank Internet Internet Banking Systems

Nedbank is one of the largest banks in South Africa with a market capitalization of about US$73 billion as of December, 2009. During the years it has established itself as the most affordable bank in South Africa. The bank provides the more affordable residential loans in the housing finance market. There are a number of Nedbank branches available across all the main cities of South Africa. The bank has its main office in Johannesburg and branches in locations such as Cape Town, Gauteng, Centurion, Namibia, Western Cape, Musgrave, Durban and Port Elizabeth. The banks swift code is NEDSZAJJ.

Nedbank also provides online banking facility commonly known as Nedbank internet banking, in which there is a 24-hours mobile access from any place in the world with complete security and comfort.

The bank provides free Nedbank internet banking services to all its customers. For several customers this has become a need, as the convenience and ease of internet banking has turn into an essential part of their account management.

Nedbank Internet Banking registration

To use Nedbank internet banking, clients require a profile, a PIN code, and password, though telephone banking clients will already have PIN code. Clients must call the bank or turn up at a local Nedbank branch where they will be delivered all the required information, plus a temporary PIN code if necessary, which they will require to change to a unique, new PIN code. They then log in to Nedbank internet banking on the banks website, after which they will be able to access all features available through Nedbank internet banking.

Nedbank Internet Banking Log on

The Nedbank customers are provided with the services and benefits of Nedbank internet banking through the process of net banking logon. To avail for, the customers must have the rights to access the Nedbank internet banking logon system. The Nedbank internet banking logon can be utilized only by the registered customers of the bank, in order to choose from and use the various online banking services and facilities provided. The Nedbank internet banking services will be made active as soon as you fill up an online application form to provide some of your account information.

Nedbank Internet Banking security features

Nedbank includes a number of security measures aimed at to maximize client safety while using Nedbank internet banking. These measures comprise of 128-bit encryption codes, which encode the communications so they are unreadable to malevolent sources, and firewalls, which preclude outside access.

Nedbank offers a variety of services available through Nedbank internet banking program, providing several of the features clients normally access at a local Nedbank branch, suggesting that customers can skip the visit to the bank and operate their accounts at their own convenience, indicating that customers now use net banking as their only or primary form of account operation.

By using Nedbank internet banking, Nedbank clients can:

Track and view expenses
Print and view past statements
Contact customer service
Move funds between accounts
Observe accounts for any suspicious activity
Access and operate accounts at any time from any location

Reasons To Go For 2013 Recruitment In, Union Bank Of India, Syndicate And Uco Bank

Since ages now, possibly from the post independence days, there has been a huge level of enthusiasm among the Indian to take up jobs in the banking sector. Many of the present day large scale nationalised banks in India had their ambitious beginning in this period. Since then, banks have become the major financial institutions in India, providing facilities of deposits, loans, fixed deposits and various other functionalities. As the need of people increased, the banks started expanding into the smaller cities and town and many private banks came into the picture, giving stiff competition to the entire banking industry. As a result, the functions of the banks also started to expand, catering to many demands of customers, related to financial transactions.

In todays scenario, these banks are not only the places for financial transactions, but they are also providing job opportunities to thousands of aspiring candidates. A number of reasons can be cited for the huge turnout of applicants whenever there is a recruitment process in the banks in India, of which the public sector banks have a huge attraction. Banks like those of UCO bank, Syndicate Bank and Union Bank of India are some of the top nationalised banks of the country, which burden a major share of the financial transactions and also cater to a huge number of customers. Few of the reasons for huge demand of banking jobs in the country are:

1. Bank jobs especially those in nationalised banks like UCO bank and Syndicate bank, are sought by people because of the good pay packages. These scales have been determined according to the best salaries in the country, in line with the rules and regulations of the Indian Banks Association. There are also other perks which are quite attractive and not found with other jobs in the country.

2. Huge number of vacancies in Union Bank of India is directly responsible for the turnout that would be seen with the Union Bank of India recruitment 2013. These vacancies are because of the expansion of the branches as well as because of the upcoming retirements in the higher levels. To cater to the increasing number of customers as well as increasing of the spectrum of activities of the banks, one can also find the Syndicate Bank recruitment 2013 to be in high demand in the coming years.

3. A major factor for the increased demand for the UCO bank recruitment 2013 is that of the exam conducted by the single body, which is the Institute of Banking Personnel Selection or IBPS. Due to this exam, candidates are needed to appear in the single written and interview rounds and then with this score in hand, they can apply to the UCO bank clerical and officer positions, whenever the vacancies are published.

Entering into the bank jobs in the country, in the present day scenario, is possibly the best employment opportunity that people will come across. With so many factors working in favour of bank jobs, candidates are sure to be attracted towards these vacancies and start in their path to a glorious career.

Must Know Business Logic Vulnerabilities In Banking Applications

Over the last few years, our On-Demand and Hybrid Penetration Testing platform has performed security testing of applications across various verticals and domains including Banking, e-commerce, Manufacturing, Enterprise Applications, Gaming and so on. On one side, SQL Injection, XSS and CSRF vulnerabilities are still the top classes of vulnerabilities found by our automated scanning system, on the other hand however, there are a lot of business logic vulnerabilities that are often found by our security experts powered by a comprehensive knowledge base.

A business logic vulnerability is defined as security weakness or bug in the functional or design aspect of the application. Because the security weakness or bug is in the function or design, it is often missed by all existing automated web application scanners.

In this blog we are sharing the top commonly found Business Logic Vulnerabilities in the Virtual Credit Creation (VCC) module of a Banking Application.

Consider the following scenario: A Banking Application provides web based functionality to users to pay Bills Online as well as to create and manage Virtual Credit Cards. Virtual Credit cards are used to shop online. A Virtual Credit Card creation use case involves the following steps: 1.User visits banking application. 2.User opts to create virtual credit card. 3.User fills up personal details, required amount, expiry date of VCC etc. 4.User chooses a payment gateway. 5.User fills up credit / debit card details. 6.Banking Application redirects user to a Payment Gateway. 7.Required amount + Service Charge are debited from user’s Debit / Credit card. 8.Payment Gateway redirects user to a Callback URL provided by the Banking Application. 9.Banking Application verifies the Payment Gateway confirmation. 10.Banking Application generates a CVV number. 11.Banking Application presents VCC details to the user. 12.Banking application performs SMS verification of the user.

A couple of security weaknesses that are found in the above scenario are as follows:

TAMPERING OF DATA COMMUNICATION BETWEEN PAYMENT GATEWAY AND BANKING APPLICATION: Weaknesses: The Banking application does not verify whether the required amount is successfully paid at the Payment Gateway Side, or what amount is being paid at the Payment Gateway Side. As a result, a virtual card can be recharged with higher amount while paying a lower amount to the bank by modifying amount when the request is sent from payment gateway to the bank.

Mitigation: There should be sufficient validations between the Banking application and the payment gateway. The callback URL should not be allowed to be directly controlled by an attacker.

NO VALIDATION ON BANKING APPLICATION’S CALLBACK URL Weakness: There is lack of validation on the Banking Application Side when the Payment Gateway redirects a user to the Banking Application’s callback URL. As a result, a virtual credit card can be created without paying any service charges, by sending the request directly to the callback URL of Payment Gateway.

Mitigation: There should be enough validations on the callback URL including whether the URL is redirected by the Payment Gateway or directly called by an attacker.

VIRTUAL CREDIT NUMBER IS PREDICTABLE Weakness: Generated Virtual Credit card numbers are predictable or follow certain patterns. As a result, an attacker can predict what virtual credit card numbers are being used by other legitimate users.

Mitigation: Virtual Credit Card numbers should be sufficiently random.

NO ANTI-AUTOMATION IN VIRTUAL CREDIT CARD DETAILS VERIFICATION Weakness: There is no anti-automation (e.g. CAPTCHA) while verifying the Virtual Credit Card details such as CVV number and expiry date. The Credit Card number is sufficiently long however, the CVV number is generally a 3 digit number and expiry date is also a 2 digit number. As a result, it is possible to bruteforce the CVV number and expiry date, and shop online using a stolen virtual credit card number.

Mitigation: There should be sufficient anti-automation e.g. CAPTCHA while verifying the CVV numbers along with the Credit Card Number.

NO ANTI-AUTOMATION IN CARD CREATION PROCESS Weakness: There is no anti-automation while creating a virtual credit card. An attacker can use automated scripts to exhaust credit card numbers. As a result, Credit Card Numbers can be exhausted and be therefore made unavailable to users leading to a Denial of Service (DoS) attack. It can also lead to other attacks including Credit Card Number pattern prediction.

Mitigation: There should be sufficient anti-automation e.g. CAPTCHA while creating virtual credit card numbers

Overview Of Indian Banking Sector

Liberalization of Indian Banking sector post 1991 led to a shift in banking culture from Class banking to Mass banking. This sector was and will continue to be the backbone of Indian economy. According to RBI, Indian banking industry is now well-regulated and adequately capitalized compared to banks across other developed countries. This has helped them in remaining resilient in the wake of global meltdown and sub-prime crisis.

Increasing presence of foreign banks, heightened competition and rapid technological advancement forced banks to become cost efficient and financially strong. Taking risks is part of a banks core business. They borrow money in the form of deposits and leverage it to lend it to borrowers at a higher rate. Banks therefore need to be highly regulated as even a small liquidity problem can create panic amongst depositors”, further deteriorating liquidity.

Since accepting deposits and providing loans and credit is primary business of a bank, some loans are bound to go bad. Making provisions for such losses on bad debts is therefore important to maintain liquidity. They also carry huge liabilities in the form of customer deposits. The best parameter used to judge a bank is the level of Non-Performing Assets it is carrying on its balance sheet. These are loans that do not pay off their principle amount or interest for at least 90 days. Due to its peculiar nature of business, cash flow statements of banks do not provide much insight into their performance.

Five important factors that investors should judge before investing in a bank are capital adequacy, credit quality, liquidity position, earnings and capital efficiency. Recent sub-prime crisis has highlighted the importance of banks” credit quality.

Banks usually pay-out dividends and are high yielding stocks. Performance of banking stocks on stock markets is directly impacted by overall economy”s health and changes in interest rates announced by RBI. This is reflected on Bankex, the index for banking stocks.

Indian banks are still recovering from the last year”s sub-prime effect and experts believe that several banks are still trading at a much lower price-to-earning ratio compared to the overall market. While public sector banks are shedding their excess flab by pruning manpower and NPAs, private banks are seen consolidating though mergers and acquisitions.

Government”s effort to encourage public sector banks to keep lending during the slowdown is expected to show positive results as soon as the economy shows positive signs. Private Banks played smart by shifting their focus from corporate lending to retail lending to cap their losses. Besides, indications from RBI that it does not plan to increase interest rates any time soon also helped improve investor sentiments about banking stocks. Experts believe that credit off-take will increase around 18% to 22% during the remaining part of this year driven by soaring demand from corporate sector.

Easy Steps To Use Online Mobile Banking On Your Smartphone

Mobile banking applicationsare one of the latest innovations in the world of technology as of today. It has undoubtedly come in handy for people from different walks of life. From youngsters to young professionals and even businesses and large corporate houses, it has touched and eased many lifestyles.

Essentially a technique that allows users to control and operate banking transactions on the go, a mobile banking application perfectly blendsin with the fast-paced world that relies on technology developments. Mobile banking application allows its customers to bank anytime and anywhere. With such service at one’s disposals, one can remotely operate all their bank transactions and take care of it without any hassles. Few of the leading banks aim to ease and simplify their customers’ hardships, by providing the assistance of mobile banking.

The following steps can be undertaken to avail of this service:

Step 1: Contact the bank
Customers can avail the assist of digital bankingby getting in touch with their bank and request for the application. Once confirmed, the app can be downloaded from the bank’s official website. The said app needs to be installed on the supported device, preferably a Smartphone. There are separate mobile banking apps for android, mobile banking apps for iPhonesand mobile banking apps for Windows Phones as well.

Step 2: Creating a user id
Next, a suitable ID and password needs to be chosen in order to link the mobile phone or smartphone with the bank account. Most of the times, it is the bank that provides its customer with an id and password. Alternatively, it can be done from one of the bank’s ATMs as well. Once it has been done, the user can view the basic features and functions of cell phone banking on their device.

Step 3: Select your transactions
The features are not only exciting but also greatly helpful. Cell phone banking users can pay their electricity bills, telephone bills as well as recharge data card, digital TV, mobile and so on. The service does not restrict to bill payments, it also lets the customers transfer funds. It allows users to also track the closest ATM machine nearest to you by activating the GPS on your phone. All these services can be activated from the mobile banking apps for android and mobile banking apps for iPhone

By and large, most mobile banking applications are secure as no information is stored on your mobile device or SIM card, which is enough to keep customers accounts secure. It is very user-friendly, and comes in various languages. To maintain the simplicity, the service is subjected to regular updates and occasional enhancements in quality.With Mobile Banking application customers can access the account on the mobile in a safe and secure manner.

Semi Truck, Big Rigs, Over The Road Truck Financing

In this economy, start up and veteran businesses have a rare opportunity to obtain advantageous financing arrangement for tractor trailers, big rigs, over the road, and semi trucks. The first option, for the client is to visit their neighboring dealer and uncover his truck there. This is notable place to begin and acquire pertinent information that will be used later in the data gathering process. From there, it is recommended searching the internet and its mass volume of data that is open. .

Once he has situated a source of tractor trailers available to him, he is able to call these sellers and negotiate a arrangement that might be able to meet his needs. Once he is agreed to a cost and its particulars, his next hurdle is to find adequate lending. Now lending arena has develop into much smaller and extra difficult to acquire leasing than two years ago.

Banks, in the earlier, that used to back this niche market have either pulled their portfolio funds out of this field or have tailored its’ lending requirements. It is not unheard of now this marketplace. The experienced business with high-quality credit might be able to obtain in as minimal as a couple of costs down plus document fees but might be mandatory to have either A or B credit.

Other weathered businesses that don’t meet these credit qualifications., could be mandatory to position up 10-30% down or either place up extra collateral as their credit scoresdecrease beneath 600. Most buyers don’t enjoy these tightening monetary qualifications., are locked out of this marketplace, and will start looking for alternatives that are accessible due to marketplace provisions. Also to the market qualifications. of considerable monies due upfront, the normal bank has tailored his risk/rewardaspect for the failure and possible repossession of these trucks.

Therefore, the rate and/or interest factor that the lender charges has gone up making it a larger challenge to finish the leasing end once the need to be purchaser locates his acquisition…. As the economy has weakened due to market terms, standard financing has altered as we know it. The lender has acquired another obstacle that makes their equation a low extra strenuous.

In the earlier year, the trucking industry has become added unbalanced. As the increase of defaults on the payments of over the road trucks, semis etc have risen to all moment levels, the lenders have been taking furnish these trucks by the droves that are earmarked as repossessions. This has caused a obstacle with customary lending practices and trying to keep steady it with a non producing income assortment. If these banks don’t act rapidly and cautiously, the combination of these two type of portfolios can be harmful to the banks’ bottom line.

A third part to entertain is the off lease truck. These trucks are being returned to the bank and they must the item in lieu of exercising the buyout opportunity.

A repossession is unlike than an off lease since it has arisen due to a non-payment of the lessee for non payment conditions or a breach of the conditions of the lease. Either way, the bank has taken these trucks back and/and these days ought to to put fund into working order these trucks and either put up for sale these trucks or re-lease them. From moment to time, as these inventories either be positioned or whatever reasons aren’t moving, the lender will position these things} up for public sale.

At the current period, the banks have two unlike types of leasing portfolios to contemplate and must be necessary to act fittingly. Standard financing on modern business deals still want harsh leasing practices based upon the credit markets and the risk/reward factors lenders observe out there in the monetary markets. The second type of portfolio, for the off lease and repossessions, require possibility a more compassionate approach to liquidating their inventories carefully and recreating the income stream for the banks. This will be discussed beneath.

Nowadays funds to initiate a lease can begin as little as foremost payment only to whatever you might able to consent upon. The buyout clauses on these over the road trucks can range from a $1.00 buyout to 10% to 20%, Trac leases to possible fair market value buyouts. One should comprehend these clauses because they have an impact on the passing of title.

These advantageous leasing arrangements by the lender has stirred the buyers wants and needs to either enter the trucking industry as an owner operator and/or possibility an expansion of a present business. First Period buyers, whom were locked out of this market in the former, today has an rare chance to earn added revenue by acquiring a truck for himself. . Other lenders that might have necessary up to 30% down in the prior might accept as little as 3% down to acquire one of their repos and/or off leases…

Additionally, a quantity of financial institutions may possibly offer advantageous monthly payment terms vs standard lending to obtain their off lease and repos vs. the customer looking to acquire a truck at a dealership.

For this report, prospective opportunities for over the road trucks, tractor sleepers and big rigs for the clientele relate to the following manufacturers:

Petebilt, Mack, Kenworth, International, Freightliner, and Volvo.

In conclusion, this is a buyer’s market for tractor sleepers, big rigs and over the road trucks, sleeper cabs, etc

One should appraise all the outer factors connecting to this possession and its related financing. Furthermore, there are two separate financing markets out there, one for the regular purchase from the dealership and the chance} of acquiring a repo and off lease from a financial institution at favorable marketplace and financing terms. As at all times it is advisable, if possible, to locate financing former to truck} shopping, it may prevent a lot of period and tension.

Happy hunting for your semi semi truck, big rig semi truck, over the road semi truck, sleeper cab acquirement and its related leasing.

How To Prepare For Gd In Oriental, Corporation And Axis Bank Recruitment 2013

Group Discussion is one of the most vital selection measures introduced in recruitment procedure by almost all the banks through its recruitment procedures like that for Oriental Bank of Commerce and Axis Bank Recruitment 2013. As a part of the screening test to select the most adept candidates, Group Discussion (GD) offers a critical understanding of the interpersonal skills among the scores of super achievers in the bank PO Written Exam. Well, you have to prepare well, in order to get that special attention of the interviewer, in your Group Discussion phase. Usually time is very limited and you have to utilize that time in the most effective manner to get selected in the GD phase.
The first step in preparing for group discussions in bank exams is to develop a habit of reading regularly, be it the newspapers or current affairs books. A daily perusal of the newspapers and news channels helps inculcate a thorough understanding of the wide range of topics that you might be facing with, while attending one of these group discussions in banking sector recruitments like Corporation Bank Recruitment 2013.

Besides making yourself aware of general topics of discussion and current affairs, it is also important to develop multiple opinions about similar topics, in order to speak in favour and against of the same topic, as per the demand of the time. It is usually advised to keep the discussions simple and informative with a lucid style of speaking. Aspirants should refrain from fabricating the truth if they lack knowledge about a certain topic of discussion. The approach of discussion must be logical, practical, and clear and subject oriented. Panellists in banking recruitment like that for Oriental Bank of Commerce Recruitment 2013 usually look for certain skills like leadership qualities, argumentative and persuasive capacities, communication and interpersonal skills and analytical abilities. Candidates must be careful that their manner of speaking and body language should be attuned to the professional requirements.

Different banks have different approaches for marking the candidates who appear for the Group Discussions. In the case of banks like Corporation Bank and Axis Bank, usually 8 to 10 group members are allowed to speak for 20 to 30 minutes altogether. Within this stipulated period, the abilities of each member are tested and tried. Self-confidence is the keystone in such kinds of debates and discussions and the body language of the candidate must be able to freely express that. It is considered a common courtesy to allow other members to become an active participant of the group discussion by listening closely and making useful and valid remarks from time to time. There should be some flow of thought and continuity must be maintained while joining the ongoing discussion. Candidates should try not to detract from the topic that is on the table for discussion. The arguments must be validated with substantial reasoning and accurate statement of facts with references.
Recruitment procedures, like that for Axis Bank Recruitment 2013 selects its candidates based on their body language and self-esteem in addition to their expression of thought and knowledge. Candidates must refrain from mocking other candidates or interrupting them before their argument is over. The candidate must be well versed in the knowledge of bank policies and related activities, since these topics are often taken up for debating during Group Discussions. Finally, confidence plays a key role for success that will help you to get through these group discussions without a hitch.