Specialist Officer Recruitment Project 2013 - Union Bank of India

Friends,

Union Bank of India is a leading listed Public Sector Bank and invites applications from eligible candidates for the Posts of Specialist Officers in various disciplines as mentioned below. The interested candidates can apply in ONLINE mode only through the link provided on the official website of Bank.The candidates can apply only for ONE Post. The applications of candidates applying for more than one post will be summarily rejected. The selection of the candidates will be made on the basis of Written Test & / or Group Discussion & /or Psychometric test & /or Personal Interview. No other mean/mode of application will be accepted. Candidates are advised in their own interest to carefully read the notification before applying for these posts and the same may be downloaded from the link provided at the end of this post. The brief details are as under : 

1. Asst. General Manager (IT): 01 Post
2. Manager (IT-Network) IV: 01 Post
3. Senior Manager (IT-Network) III: 01 Post
4. Credit Officers – MMGS-III – 336 Posts
5. Printing Technologist III: 01 Post
6. Security Officer: 06 Posts
7. Company Secretary II: 01 Post
8. Economists II: 02 Posts

Age Limit: Candidates’ age must be between 21 yrs and 40 yrs for Posts 1 to 5, between 21 yrs and 50 yrs for 6, between 21 yrs and 35 yrs for rest of the posts. Cutoff date for determining age limit would be         01-02-2013.

 (Age relaxations will be extended as per Govt. rules).

Educational Qualification: Candidates must possess PG Degree/Degree/M .Tech/B.Tech/B.E/(Computer Science/Electronics/ Electronics and Communication) / MCA from a UGC recognized University / AICTE approved Institution with minimum 60% marks ( 55% for Reserved Category candidates) in the final year of Graduate Degree course with relevant certificate course and desired experience as per the post. For post wise details refer to the notification.

Application Fee: Applicants need to pay application fee of Rs. 250/- for General and OBC candidates and Rs. 50/- for other category candidates. Fee can be paid in the form of Challan downloaded from the notification, at any branch of Union Bank of India.

How to Apply: Candidates need to apply online through the website www.unionbankofindia.co.in on or before 23-04-2013. After submission of application candidates must take the print out of Application Form and retain it for further use.

Instructions for Online Application: 

• Log on to www.unionbankofindia.co.in and select the ‘Careers’ link to start the application process.
• Select the link ‘Recruitment’ and open the current notification. Take print out of Notification which includes Payment Challan..
• Make payment with the help of Challan and revisit the Bank’s website to start the Online Application process.
• Select the Click Here for Online Application link to start applying Online for the post.
• Fill all marked details carefully, check once the entire application form and Submit the Online Application.
• Take print out of Application Form and retain it for further use to be produced at the time of Interview if asked for.

Important Dates:

• Starting Date for Online Registration: 03-04-2013
• Last Date for Online Registration: 23-04-2013
• Last Date to Edit Online Application:23-04-2013
• Payment of Fee: 03-04-2013 to 23-04-2013
• Last Date for Reprint: 09-05-2013

For more information Download Advertisement 

Highlights of Union Budget 2013-14

Friends,

Here are the highlights of the Union Budget 2013-14:-

•  Little room to give away tax revenues or raise tax rates in a constrained economy.
• No case to revise either the slabs or the rates of Personal Income Tax. Even a moderate increase in the threshold exemption will put hundreds of thousands of Tax Payers outside Tax Net. 
• However, relief for Tax Payers in the first bracket of `2 lakhs to ` 5 lakhs. A tax credit of ` 2000 to every person with total income upto `5 lakhs.
• Surcharge of 10 percent on persons (other than companies) whose taxable income exceed ` 1 crore to augment revenues.
• Increase surcharge from 5 to 10 percent on domestic companies whose taxable income exceed ` 10 crore.
• In case of foreign companies who pay a higher rate of corporate tax, surcharge to increase from 2 to 5 percent, if the taxabale income exceeds ` 10 crore.
• In all other cases such as dividend distribution tax or tax on distributed income, current surcharge increased from 5 to 10 percent.
• Additional surcharges to be in force for only one year.
• Education cess to continue at 3 percent.
• Permissible premium rate increased from 10 percent to 15 percent of the sum assured by relaxing eligibility conditions of life insurance policies for persons suffering from disability and certain ailments.
• Contributions made to schemes of Central and State Governments similar to Central Government Health Scheme, eligible for section 80D of the Income tax Act.
• Donations made to National Children Fund eligible for 100 percent deduction.
• Investment allowance at the rate of 15 percent to manufacturing companies that invest more than ` 100 crore in plant and machinery during the period 1.4.2013 to 31.3.2015.
• Eligible date’ for projects in the power sector to avail benefit under Section 80- IA extended from 31.3.2013 to 31.3.2014.
• Concessional rate of tax of 15 percent on dividend received by an Indian company from its foreign subsidiary proposed to continue for one more year.
• Secularization Trust to be exempted from Income Tax. Tax to be levied at specified rates only at the time of distribution of income for companies, individual or HUF etc. No further tax on income received by investors from the Trust.
•  Investor Protection Fund of depositories exempt from Income-tax in some cases.
• Parity in taxation between IDF-Mutual Fund and IDF-NBFC.
• A Category I AIF set up as Venture capital fund allowed pass through status under Income-tax Act.
• TDS at the rate of 1 percent on the value of the transfer of immovable properties where consideration exceeds ` 50 lakhs. Agricultural land to be exempted.
• A final withholding tax at the rate of 20 percent on profits distributed by unlisted companies to shareholders through buyback of shares.
• Proposal to increase the rate of tax on payments by way of royalty and fees for technical services to non-residents from 10 percent to 25 percent.
• Reductions made in rates of Securities Transaction Tax in respect of certain transaction.
• Proposal to introduce Commodity Transaction Tax (CTT) in a limited way. Agricultural commodities will be exempted.
• Modified provisions of GAAR will come into effect from 1.4.2016.
• Rules on Safe Harbour will be issued after examing the reports of the Rangachary Committee appointed to look into tax matters relating to Development Centres & IT Sector and Safe Harbour rules for a number of sectors.
• Fifth large tax payer unit to open at Kolkata shortly.
• A number of administrative measures such as extension of refund banker system to refund more than ` 50,000, technology based processing, extension of e-payment through more banks and expansion in the scope of annual information returns by Income-tax Department.

Budget 2013-14- Expectations of Salaried Persons

Friends,

The Budget for Financial year 2013-14 is going to be presented by Mr. P Chidambaram, the Finance Minister of India,  on 28th February, 2013. There are lot of demands and expectations from the budget from various businessmen , industrialist and economist.These all are important but common man is more or less interested in Direct tax proposal . Direct Tax proposals are always keenly awaited by all common persons.We also have expectation and wish list from Finance minister which is given below.You can also contribute your wish list in comment section.

Raise Income tax exemption limit to 3,00,000 (presently it is 2,00,000) .With this tax liability will be reduced by around Rs 10300/- .Similar adjustment should be made in Sr Citizen and very senior citizen slab.This limit should be increased as inflation is increasing day by day and person should be compensate to offset increase in fuel , gas, freight  and other essential services and Goods.

Increase 10 % slab up to Rs 6,00,000 from earlier Rs 5,00,000

Increase in 80C Deduction limit to Rs 1,50,000/- ,it will increase saving, which will provide help Govt in  raising funds and increase social security.

Restore 80CCF Deduction for investment in Infrastructure Bonds with revised limit of Rs 30000/-.It will help infrastructure companies to raise money.Interest rate should be increased on these  bonds.

Increase Exemption of Transport Allowance from present limit of Rs 800/- to Rs 4000/-.This limit has not been increased since a long period. 6th CPC has increased limits of transport allowance payable to all employees and accordingly higher amount has been paid in PVT sector also.

Increase Medical Reimbursement to Rs 30000/- , Children Education and hostel allowance to 750/- per month.

Reduce lock in period for tax saving FDR to 3 years from 5 years.

Enhance the scope of Rajiv Gandhi Equity Saving Scheme (section 80CCG) by allowing investment by higher income(income more than 10 lakh) first time investor.

Increase in deduction for Interest on House loan for self occupied house to Rs 200000/- from earlier Rs 150000/- as housing cost is increasing day by day ,so person have to take higher value house loan to acquire /construct own house.

Increase in Leave Encashment Exemption Limit to 6,00,000 from 3,50,000 for non govt employee and further it should be linked to inflation index ,so that limit may be increased automatically.

Highlights of Union Budget 2012-13

Friends,

Today, March 16, 2012 the Finance Minister Pranab Mukherjee presented the Union Budget 2012-13. The expectations of salaried paid employees are not fulfilled as were announced by the committee before this Budget. Following are some of the key highlights of the Union Budget 2012-13.  On March 14, the Railway Budget was also presented by the Railway Minister Dinesh Tiwari.. Click here to view the Highlights of Railway Budget 2012-13

• Tax burden for individuals to come down: Income tax exemption limit raised from Rs. 1,80,000 to Rs. 2,00,000; 10 per cent tax for 2-5 lakh income; 20 per cent for 5-10 lakh and 30 per cent beyond Rs. 10 lakh; Savings bank account interest up to Rs. 10,000 exempted from tax.

• Many services and goods to cost more: No change in corporate tax rate, but standard rate of excise duty, as also service tax rates, raised from 10 per cent to 12 per cent; No change in peak customs duty of 10 per cent on non-agri goods.

• Large cars, imported bicycles, cigarettes, bidis and some imported jewellery to cost more; branded silver jewellery may get cheaper.

• Boost for capital markets: Securities Transaction Tax on cash delivery reduced by 25 per cent to 0.1 per cent; A new Rajiv Gandhi Equity Saving Scheme to allow income tax deduction to retail investors in stocks.

• Economy expected to gain ground: GDP growth rate pegged at 7.6 per cent in 2012-13; Subsidy Expenditure to be checked and higher tax revenues targeted; Rs. 30,000 crore to be raised from disinvestment.

• Capital boost to financial and infrastructure sectors: Rs. 15,888 crore to be provided for capitalisation of public sector banks and financial institutions; Infrastructure investment of Rs. 50 lakh crore in 12th period, with half from private sector; Tax free bonds of Rs. 60,000 crore to be allowed for financial infrastructure projects.

• Fight against black money: White paper on black money in current session of Parliament; Introduction of compulsory reporting requirement for assets held abroad; tax collection at source on high-value cash purchase of bullion, jewellery, immovable property and trading in coal, lignite and iron ore.

• Greater scrutiny of closely-held companies for funds; Taxation of unexplained money, credits, investments, expenses at highest rate of 30 per cent irrespective of income slab.

• Tax reforms: Direct Taxes Code (DTC) at earliest; GST network to be operational by August 2012; Central Excise and Service Tax being harmonized. A General Anti-Avoidance Rule (GAAR) to be introduced to counter aggressive tax avoidance.

• Attracting foreign funds: Efforts on to allow FDI in multi-brand retail and permitting foreign airlines invest in domestic players; External borrowings to the extent of USD one billion for aviation companies; Qualified Foreign Investors to get access to corporate bond market.

• Tax relief for stressed sectors: Sectors like agriculture, infrastructure, mining, railways, roads, civil aviation, manufacturing, health and nutrition, and environment to get duty relief; Turnover limit for compulsory tax audit for SMEs raised from Rs 60 lakh to Rs 1 crore.

• Farming for growth: Target for agricultural credit raised to Rs 5,75,000 crore; Interest subvention for short-term crop loans to farmers at 7 per cent interest continues; additional 3 per cent for prompt paying farmers.

Financial Highlights of Budget 2012-13:

• Direct proposals to give in net revenue loss of Rs. 4,500 crore and net gain of Rs. 45,940 crore from indirect taxes, resulting into a net gain of Rs. 41,440 crore.

• Fiscal deficit targeted at 5.1 per cent of GDP in 2012-13, down from 5.9 per cent in 2011-12; Central Government debt at 45.5 per cent of GDP.

• Total expenditure budgeted at Rs. 14,90,925 crore; plan expenditure at Rs. 5,21,025 crore, 18 per cent higher than 2011-12 budget; non-plan expenditure at Rs. 9,69,900 crore.

• Gross Tax Receipts estimated at Rs. 10,77,612 crore, 15.6 per cent higher than original budget estimates and 19.5 per cent over the revised estimates for 2011-12.

• Net tax to the Centre in 2012-13 estimated at Rs. 7,71,071 crore; Non-Tax Revenue Receipts estimated at Rs. 1,64,614 crore and Non-debt Capital Receipts at Rs. 41,650 crore.

• Total expenditure for 2012-13 budgeted at Rs. 14,90,925 crore, including Rs. 5,21,025 crore of Plan Expenditure and Rs. 9,69,900 crore as Non-Plan Expenditure.

• Defence services get Rs. 1,93,407 crore; any further requirement to be met.

Highlights of Railway Budget 2012-13

Friends,

Today March 14, 2012, the Railway Budget has been presented by the Railway Minister Dinesh Tiwari. After ten years there is a surprise measure of hiking of Railway Fares. The increase would be between 2 to 30 paisa per kilometer across various passenger classes. A 30 paisa per kilometer fare hike has been proposed for AC first class travellers. 

Railway Recruitment Board (RRB) Recruitment 2012

The highlights of Railway Budget 2012

- Passenger fares increased marginally. The increase will be by 2 paise per km for suburban and ordinary second class; 3 paise per km for mail/express second class; 5 paise per km for sleeper class; 10 paise per km for AC Chair Car, AC 3 tier and First Class; 15 paise per km for AC 2 tier and 30 paise per km for AC I.

- Minimum fare and platform tickets to cost Rs 5.

- 50 per cent concession in fare in AC-2, AC-3, Chair Car and Sleeper classes to patients suffering from 'Aplastic Anaemia' and 'Sickle Cell Anaemia'.

- Extending the facility of travel by Rajdhani and Shatabdi trains to Arjuna Awardees.

- Travel distance under 'Izzat Scheme' to increase from 100 kms to 150 kms.

- SMS on passenger mobile phone in case of e-ticket to be accepted as proof of valid reservation.

- Introduction of satellite based real time train information system (SIMRAN) to provide train running information to passengers through SMS, internet, etc.

- On board passenger displays indicating next halt station and expected arrival time to be introduced.

- Installation of 321 escalators at important stations of which 50 will be commissioned in 2012-13.

- Introduction of regional cuisine at affordable rates; launching of Book-a-meal scheme to provide multiple choice of meals through SMS or email.

- Introduction of coin/currency operated ticket vending machines.

- Upgradation of 929 stations as Adarsh Stations including 84 stations proposed in 2012-13; 490 stations have been completed so far.

- Specially designed coaches for differently-abled persons to be provided in each Mail/Express trains.

- Introduction of Rail Bandhu on-board magazines on Rajdhanis, Shatabdis and Duronto trains.

- Setting up of AC Executive lounges at important stations

- 75 new Express trains to be introduced.

- 21 new passenger services, 9 DEMU services and 8 MEMU services to be introduced.

- Run of 39 trains to be extended.

- Frequency of 23 trains to be increased.

- 75 additional services to run in Mumbai suburban; 44 new suburban services to be introduced in Kolkata area, 50 new services to be introduced in Kolkata Metro; 18 additional services in Chennai area.

- 725 km new lines, 700 km doubling, 800 km gauge conversion and 1,100 km electrification targeted in 2012-13.

- Rs 6,872 cr provided for new lines, Rs 3,393 cr for doubling, Rs 1,950 cr for gauge conversation, Rs 828 cr for electrification

- Highest ever plan outlay of Rs 60,100 cr

- Rae Bareli coach factory manufactured 10 coaches in 2011-12; phase-II of the factory would be commissioned in 2012-13.

- A wagon factory to be set up at Sitapali (Ganjam District of Odisha)

- A rail coach factory with the support of Government of Kerala to be set up at Palakkad; two additional new manufacturing units for coaches to be established in the Kutch area in Gujarat and at Kolar in Karnataka with active participation of the State Governments.

- Setting up of a factory at Shyamnagar in West Bengal to manufacture next generation technology propulsion system for use in high power electric locomotives.

- Creating Missions as recommended by Pitroda Committee to implement the modernization programme.

- Setting up of Railway Tariff Regulatory Authority to be considered.

- New Board Members for Safety/Research and PPP/Marketing to be inducted.

- Rail-Road Grade Separation Corporation to be set up to eliminate level crossings.

- Indian Railway Station Development Corporation to be set up to redevelop stations through PPP mode.

- Logistics Corporation to be set up for development and management of existing railway goods sheds and multi-modal logistics parks.

- National High Speed Rail Authority to be set-up.

- Pre-feasibility studies on six high speed corridors already completed; study on Delhi-Jaipur-Ajmer-Jodhpur to be taken up in 2012-13.

- Introduction of a ‘Green Train’ to run through the pristine forests of North Bengal.

- Setting up of 200 remote railway stations as ‘green energy stations’ powered entirely by solar energy.

- Providing solar lighting system at 1,000 manned level crossing gates.

- 2,500 coaches to be equipped with bio toilets.

- Setting up of 72 MW capacity windmill plants in Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and West Bengal.

- Installation of Integrated Security System at all 202 identified stations to be completed in 2012-13.

- Escorting of trains by RPF/GRP extended to 3,500 trains.

- Integration of RPF helpline with the All India Passenger Helpline.

- Setting up of a Railway Safety Authority as a statutory regulatory body as recommended by Kakodkar Committee

- Three 'Safety Villages' to be set up at Bengaluru, Kharagpur and Lucknow for skill development for disaster management.

- Over one lakh persons to be recruited in 2012-13 " backlog of SC/ST/OBC and other categories to be wiped off.

- Introduction of a wellness programme for railway staff at their work places.

- Ensuring proper rest for skilled and technical staff including the running crew.

- Institution of 'Rail Khel Ratna' Award for 10 rail sports-persons every year.

- New coaching terminal at Naihati, the birth place of Rishi Bankim Chandra Chattopadhyay commemorating him on 175th Birth Anniversary.

- Project to connect Agartala with Akhaura in Bangladesh to be taken up in 2012-13.

- Freight loading of 1,025 MT targeted; 55 MT more than 2011-12

- Passenger growth targeted at 5.4 per cent.

The Indian Railways, which runs the third largest railroad network in the world, has around 7,083 stations on 64,000 km route with 12,000 passenger and 7,000 freight trains. It ferries 23 million travellers and 2.65 million tonnes of goods daily.

Union Budget 2012-13 - Schedule Changed

Friends,

The Union Budget 2012-13 is now scheduled on March 16, 2012. The Finance Minister, Mr. Pranab Mukherjee , will present the Union Budget. The resheduling of this date is due to Assembly Elections in five States. The Cabinet Committee on Parliamentary Affairs (CCPA), under Mr Mukherjee, met on Tuesday and recommended to the President that the Budget Session of Parliament be convened from March 12. The first part of the session will end on March 30. Both Houses will re-assemble on April 24, and the session will continue till May 22. The President's address will be on March 12, the Rail budget on March 14 and the Union Budget on March 16.