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July 14, 2013

Facebook builds a tool to manage data on both facilities and servers

Facebook is blowing up the data center infrastructure management space by joining two kinds of data that typically lives in separate silos — information on the building and information about the hardware.


Remember that leap-second incident that threw much of the internet last summer? Facebook does. Its servers suddenly hit 100 percent CPU utilization, and as a result, a breaker failed at a site Facebook’s leases in Virginia, bringing down a few rows of gear — something like 300 racks.

The event hardly threw off Facebook’s entire footprint. But it did get engineers thinking more about writing software that integrates third-party building management software with home-cooked tools for monitoring server performance, Tom Furlong, Facebook’s vice president of site operations, said in an interview during the Datacenter Dynamics Converged event in San Francisco on Friday.

The combined system can take into account outdoor information such as temperature and humidity, power consumption for an entire building, and also data on CPU, storage and memory.

Over the past few months Facebook has been rolling out the new data center infrastructure management (DCIM) program and a new cluster-planning system for visualizing all the data. The plan is to roll out the program more widely this year.

The tack Facebook is taking helps in a couple of ways. The software can reduce the amount of time engineers spend to figure out how to rearrange equipment to improve performance. How big of a difference can it make? “Thirty minutes instead of 12 hours worth of drawings and other things,” Furlong said.

It also can contribute to the noble cause of getting Facebook to squeeze the most efficiency out of its existing data centers — and, by extension, precluding the need for yet another data center.

Furlong expected the company to talk more about the system at the next Open Compute Summit in January. He wasn’t sure if the company would make the tool available for public consumption in a similar way that it has disclosed hardware designs in the Open Compute Project. The hitch is that the combined program incorporates some existing internal Facebook monitoring tools, which the company might not want to expose.

But regardless of whether that happens, public discussion of the initiative — Furlong talked it up in general terms before data center aficionados during a session at the Friday conference — can give people an idea of the next logical step for improving efficiency with existing hardware and being smarter about how and when to bring in new equipment that best fits workloads.
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July 13, 2013

How to Identify Bogus Banking Emails

Some phishing attempts are so crude, they're laughably obvious -- but too often, otherwise savvy consumers are getting duped by fake email messages that convincingly emulate real correspondence from financial institutions. There are some steps you can take to vet a message before getting into trouble, though. First and foremost, treat all suspicious emails as guilty until proven innocent.


I've recently written about ways to stop spam, but what do you do about bogus email -- that is, email that appears legitimate but isn't?

Fake emails are sent by criminals in order to get your money, or to take advantage of your computer's processing power and Internet connection to launch Web-clogging Denial of Service attacks on other networks.

This practice, aka "phishing," works by embedding dummy Trojan software on your PC, or by getting you to visit fake websites to enter personal details, or by capturing personal details directly from your computer.

The emails are often hard to spot and can look like they come from common financial institutions and social networks. Here's how to identify those emails -- and what to do if you suspect you've received one.

Step 1: Notice the Red Flags

Red flags include
  • requests for personal information such as banking details and password changes;
  • prompts to click on links or download attachments; and
  • requests from institutions you don't already have a relationship with.
Treat any red flag emails with caution and proceed to the next steps.
Warning: Don't click on a link within an email if you have any doubt as to the legitimacy of the message.

Step 2: Don't Panic

Be wary of alert-style text within emails that suggests your security has been compromised and that the embedded link you are being urged to click on will fix the problem.
This is a pressure technique that instills a sense of urgency. Just as you would in entering a common purchasing transaction, take time to evaluate.
Look for language that implies something onerous will happen if you don't click on the link within the email message -- for example, that your account will be closed.
Tip: Look for bad grammar, strange capitalization or spelling mistakes. Legitimate companies usually put effort into catching mistakes before releasing an email. Peculiar text can be used to circumvent spam software.

Step 3: Look Closely at Links

Place your mouse over the common language link in the email -- again, without clicking on the link -- to see if the link's Web address is repeated within the status bar on the browser or email client.
A legitimate link will echo the text in the message. For example, the link in a message from the XYZ Bank will read https://www.xyzbank.com/link, or similar, rather than http://somethingelsefakebank.com/link or similar, or a series of numbers, called an "IP address," like http://192.111.111.111/link, or similar.
The secure designation "https," rather than the generic "http," will precede a legitimate transactional website. The "s" means it's secure.
Tip: Look for marginally changed link addresses, for example XYX Bank, rather than the legitimate XYZ Bank. Again, don't click on the link.

Step 4: Check the Header

Check the sender's actual address in the message header against the From address. The displayed From name is easier to fake than the sending mail address. The actual addresses should match, or the sending mail address should clearly be originating from a legitimate institution sending a message.
Look for a lack of personalization within the message. Generally, but not always, a classic phishing email will not include personalization. Banks try to differentiate themselves from phishers by using personalization. A "Dear XYZ Bank Member" is an example of bogus message, whereas "Dear Mr. Smith" is likely legitimate.
Warning: Legitimate institutions will not send downloadable email attachments unless you have already entered into a dialog with them about it -- for example instrument copies. Never download attachments with a ".exe" extension.

Step 5: Take the High Road

Browse to the sender's website directly. Do this by manually entering the Web address root in a Web browser address bar. Then use the website's navigation to find the information referred to in the email message.
If the email message was legitimate, the contents will be available at the website too.
Tip: When browsing, check the browser's address bar for the correct institution's address -- for example, XYZ Bank. Even if the Web address has the bank's name in it, it may not be the bank's website. For example, XYZBankSecure.net, is not the same as XYZ Bank.com
Warning: Never enter bank login details after following an emailed link. Always log in to the bank directly from a fresh tab in a Web browser. Never enter details in pop-up windows.

Step 6: Good Riddance

Delete the bogus email message.

Tip: You can report bogus emails. Many email clients have ways to mark messages as scams. Look for "Mark as phishing scam," or similar, adjacent to the message.
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July 12, 2013

Nokia's Lumia 1020: All Pixeled Up but Nowhere to Go?

There's no denying that 41 megapixels is impressive for a smartphone camera, but will it really make enough of a difference for the beleaguered Finnish smartphone maker and its widely hyped new device? "The secret to Nokia recreating the greatness they once held is to reinvent the brand, not add a camera or other feature," suggested telecommunications analyst Jeff Kagan.

It is often said that a picture is worth a thousand words, but users of Nokia's upcoming Lumia 1020 mobile smartphone may well be able to do better than that. That's because the new marquee Windows phone -- formally unveiled Thursday at a Nokia event in New York -- will offer 41 megapixels, not to mention six-lens Carl Zeiss optics, high-resolution 3X zoom, autofocus and a dual flash system.
The Lumia 1020 will also be able to capture 1080p full HD videos at a rate of 30 frames per second.
Nokia Lumia 1020
The Nokia Lumia 1020
"With the Nokia 1020, pictures will mean more to you," said Nokia CEO Stephen Elop at the Thursday morning press event in New York City. "You'll discover and rediscover new stories. It will change how you shoot, create and share photos forever."
The phone -- some details of which had been leaked earlier this week -- will be exclusive to AT&T beginning on July 26, with preorders starting 10 days earlier. It will be priced at US$299.99 with a two-year contract.
Nokia did not respond to our request for further details.

Nokia's 'Next Chapter'
The new Lumia 1020 can capture photos in both 16-by-9 and 4-by-3 aspect ratios, but the resulting high-resolution images can also be saved as 5-megapixel images.
"This is the next chapter in Nokia smartphone technology," Elop said. "It can capture video with incredible quality."
Of course, the device is still a phone as well and will run on a 1.5 GHz dual-core Qualcomm Snapdragon processor. It will feature 32 GB of internal memory, with the option of supplementing that by 7 GB of SkyDrive cloud-based storage from Microsoft.
The 4G LTE handset further features a 4.5-inch AMOLED PureMotion HD+ display with a 1,280-by-768 HD display in 16x9 ratio.
Included in the AMOLED screen is a Clear Black filter to reduce outdoor glare, and the handset offers a Gorilla Glass 3 ultrasensitive touchscreen as well -- one that can reportedly be operated even with a glove on the user's hand.
the 'Cool' Factor'


With 41 megapixels, the Lumia 1020 sounds as much like a camera with smartphone technology as a smartphone with a camera thrown in. That functionality might not appeal to every user, but for those who rely on their handset as a camera, it could up the ante significantly.
"The 1020's vast megapixel count is a significant marketing asset because consumers have been well trained that more pixels are better in digital photography," said Daniel Gleeson, mobile analyst at IHS Electronics & Media. "This message is far clearer and simpler than HTC's 'UltraPixel' proposition.

"Also, 41 megapixels outguns even Samsung's camera-smartphone hybrids by more than two to one, although Samsung will correctly point to its stronger but bulkier optics as an advantage," Gleeson told TechNewsWorld.

"IHS believes that Nokia's 41MP technology serves two key purposes," he added. "First, it is a marketing and sales tool to impress consumers. Second, it re-establishes Nokia as a technology leader.

"If Nokia can gather support from the early-adopter community for its innovative technology, that will go a long way to making the Nokia brand 'cool' again," Gleeson said.

A Single Focus

With the New York City event's focus on the Lumia 1020's camera functionality, it's clear that this is where Nokia is betting the device could score with users. The question that remains to be seen, however, is whether that one feature -- however important -- will be enough to capture mass appeal.
"The camera is one of the key features many users are looking for, so focusing on the camera is important to Nokia," said telecommunications analyst Jeff Kagan.
It might not be enough to rebuild the company, however, without first rebuilding the brand, Kagan told TechNewsWorld.
"Nokia used to lead the traditional handset space much the same way Blackberry led the smartphone space,"  he explained. "Nokia has tried numerous times to reinvent itself in the smartphone world -- they have failed time after time. The secret to Nokia recreating the greatness they once held is to reinvent the brand, not add a camera or other feature."

'Nokia Must Continue to Invest'

Indeed, the "Lumia 1020 alone won't revive Nokia," Gleeson agreed. "The Lumia 1020 will act as a halo product to boost Nokia's brand appeal."
The fact is, "photography on smartphones is not just about having the best-quality pictures," Gleeson stressed. "Sharing pictures to social networks is more important to most consumers than printing."
High-engagement levels, meanwhile, "mean that convincing Instagram users to switch from iPhone or Android to Nokia's platform will be difficult," he added.
There is no Instagram app for Windows Phone, in fact, thus reinforcing the fact that the platform lags behind iPhone or Android, at least when it comes to apps.
"The popularity of Instagram's filters again proves that absolute top-rate picture quality is not actually important for the majority of users," Gleeson concluded. "Nokia must continue to invest in content and services to bolster the range of Windows Phone app choice and quality."
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Convert Web Page (Aspx,Html) to PDF File - Asp.net

For many developers while developing applications the question arises that How to Convert  Web Page (Aspx,Html,php) to PDF File. Solution is here..

You can convert any web URL in to PDF file by this utility.

Convert html to pdf using webkit (qtwebkit)

Searching the web, I have found several command line tools that allow you to convert a HTML-document to a PDF-document, however they all seem to use their own, and rather incomplete rendering engine, resulting in poor quality. Recently QT 4.4 was released with a WebKit widget (WebKit is the engine of Apples Safari, which is a fork of the KDE KHtml), and making a good tool became very easy.

Simple shell utility to convert HTML to PDF using the webkit rendering engine, and qt.

That is it. You can go to any web page... even aspx. is supported better than any other utility as it uses the web-kit HTML rendering engine (Safari, Chrome). Enjoy
There is a single .exe (7 mb) that can be used from .Net simply by using Process.Start Make sure that you copy the exe into your project directory or you have to specify the full path..

Example: -

public void HtmlToPdf(string website, string destinationFile)
    {
        try
        {
            Process p = new Process();
            p.StartInfo = new ProcessStartInfo();
            p.StartInfo.UseShellExecute = false;
            p.StartInfo.RedirectStandardOutput = true;
            p.StartInfo.FileName = "C:\\Program Files\\wkhtmltopdf\\wkhtmltopdf.exe";
            website = "\"" + website + "\"";
            string arguments1 = website + " " + destinationFile;
            p.StartInfo.Arguments = arguments1;
            p.StartInfo.WindowStyle = ProcessWindowStyle.Hidden;
            p.StartInfo.CreateNoWindow = true;
            p.Start();
            p.WaitForExit();
            p.Close();
            p.Dispose();
        }
        catch (Exception ex)
        {
            throw ex;
        }
    }
  
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July 11, 2013

Magsaysay Award – The Nobel Prize of Asia | Indian Winners .

Introduction to Magsaysay Award

 

The Magsaysay Award, sometimes also known as Nobel Prize of Asia, was introduced in 1957, in the memory of the Philippines President Late Ramon Magsaysay, who died on March 17, 1957. The president died in a plane crash, is remembered by his countrymen for his great leadership. The President is loved by the people for his courage, simplicity, justice.
The prize was introduced by his admirers from America, the Rockefeller Brothers, in April 1957 under the Rockefeller Brothers Fund based in New York City with the contemporary Philippine government. It is awarded to honor the spirit of greatness in various fields viz. Government Service, Public
Service, Community Leadership, Journalism, Literature and Creative Communication Arts, Peace and International Understanding and Emergent Leadership etc to people of Asia.
Ramon del Fierro Magsaysay was born on August 31, 1907. He was the seventh President of the Republic of the Philippines, elected on December 30, 1953. He was a die-hard anti-Communist. He was an automobile mechanic by profession. He was nominated for the post of President by his party Nacionalista Party. He was married to Luz Magsaysay in 1932 and fathered three children.

Ramon Magsaysay’s Life History



    1. 1. 1907 – In Iba, Zambales, Philippines to Exequiel Magsaysay and Perfecta del Fierro.                                                    
      2. 1927 – Entered in the University of the Philippines for Pre-engineering course                                                           
      3. 1941 – Joined the motor pool of the 31st Infantry Division of the Philippine Army.                                                     
      4. 1946 – Elected under the Liberal Party to the Philippine House of Representatives                                                      
      5. 1953 – Resigned his post as Defense Secretary and became the Presidential Candidate of the Nacionalista Party 
      6. 1953 – 1n December, elected as the seventh president of the country

  • Indians Winners of Magsaysay Award                    

    Name                                              Year            Field(s)
    Chintaman Deshmukh              1958 Community Leadership
    Chintaman Deshmukh              1959 Government Services
    Amitabha Chowdhury               1961 Journalism, Literature & Creative Comm. Arts
    Mother Teresa                               1962 Peace and International Understanding
    Dara Khurody                               1963 Community Leadership
    Verghese Kurien                           1963 Community Leadership
    Tribhuvandas Patel                    1963 Community Leadership
    
    Welthy Fisher                             1964 Peace and International Understanding
    Jayaprakash Narayan 1965 Public Service K.D. Chattopadhyay 1966 Community Leadership Satyajit Ray 1967 Journalism, Literature & Creative Comm. M.S. Swaminathan 1971 Community Leadership M.S.Subbulakshmi 1974 Public Service Boobli G Verghese 1975 Journalism, Literature & Creative Comm. Arts H. Holck-Larsen 1976 Peace and International Understanding Sombhu Mitra 1976 Journalism, Literature & Creative Comm. Arts Ela Ramesh 1977 Community Leadership Mabelle Arole 1979 Community Leadership Rajanikant Arole 1979 Community Leadership Gour Kishore Ghosh 1981 Journalism, Literature & Creative Comm. Arts Pramod Karan Sethi 1981 Community Leadership Chandi Prasad Bhatt 1982 Community Leadership Manibhai Desai 1982 Public Service Arun Shourie 1982 Journalism, Literature & Creative Comm. Arts Rasipuram Lakshman 1984 Journalism, Literature & Creative Comm. Arts Muralidhar Amte 1985 Public Service Lakshmi Chand Jain 1989 Public Service Ravi Shankar 1992 Journalism, Literature & Creative Comm. Arts Banoo J. Coyaji 1993 Public Service Kiran Bedi 1994 Government Services Pandurang Athavale 1996 Community Leadership Tirunellai Seshan 1996 Government Services Mahasweta Devi 1997 Journalism, Literature & Creative Comm. Arts Mahesh C. Mehta 1997 Public Service Jockin Arputham 2000 Peace and International Understanding Aruna Roy 2000 Community Leadership Rajendra Singh 2001 Community Leadership Sandeep Pandey 2002 Emergent Leadership James M. Lyngdoh 2003 Government Services Shantha Sinha 2003 Community Leadership Laxmi N. Ramdas 2004 Peace and International Understanding V Shantha 2005 Public Service Arvind Kejriwal 2006 Emergent Leadership Palagummi Sainath 2007 Journalism, Literature & Creative Comm. Arts Deep Joshi 2009 --------------- Neelima Mishra 2011 Emergent Leadership Harish Hande 2011 --------------- Kulandei Francis 2012 ---------------

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    July 10, 2013

    Know About Your Form - 16

    Your Form-16 contains details you need to file your Income Tax Return. Having a basic
    understanding about your Form-16 goes a long way to help you file your tax return. See the below annotated image to understand some of the most relevant portions of your Form-16. It is a very brief form packed with information.

    After reading this guide, you will be able to understand how the information from the Form-16 is entered while filing income tax returns online. Let's take ClearTax as an example as the tool or e-filing returns.



    This is the format of the new Form-16 to be used from this year onwards. This form is generated using TRACES.

    Fill your from 16 info to Cleartax.in

    The corresponding sections in ClearTax where this information goes is:


    .PART B of the Form 16, sometimes called Salary Statement




    Information your Employer Provides

    Taxable Salary

    Your employer will provide key information such as Gross Salary, Perquisites, Various allowances and deductibles.

    From a tax perspective Field-6, Income Chargeable under the head 'Salaries' is relevant. This is your taxable salary.


    Tax Deducted at Source (TDS)

    The other relevant information your employer will tell you is Tax deducted at source. This is field-18(a). This tax deducted is what you have paid to the Income Tax Department already.


    Information you already have

    Deductions

    Deductions under Section 80C, 80D, 80E, 80CCF, 80G, 80DD, 80U, etc are reported by you to your Employer.

    You may or may not have reported all deductions to your employer. That is no problem. You can still claim them in your Income Tax Return by filling up the relevant columns in ClearTax.

    In general, its a good idea to report your tax deductions to your employer to minimize the TDS by employer.

    If you receive any other Income, like interest from a bank account or rent, etc, you may have informed your employer about it. This is mentioned in Field-7.

    Most commonly, people who have a housing loan report it to their employers for less tax deduction at source. Don't worry if you have not reported income to your employer.

    You can add additional Income to your Income Tax Return in the relevant columns of ClearTax.

    References:-
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    July 9, 2013

    Real World Example of Abstract Class and Interface

    An abstract class is a class that you cannot create an instance of. It can provide basic functionality, but in order for that functionality to be used, one or more other classes must derive from the abstract class. One of the major benefits of abstract classes is that you can reuse code without having to retype it. 

    That has a plethora of benefits, such as reducing bugs and making coding faster. A concrete example of an abstract class would be a class called Animal. You see many animals in real life, but there are only kinds of animals. That is, you never look at something purple and furry and say "that is an animal and there is no more specific way of defining it". Instead, you see a dog or a cat or a pig... all animals. The point is, that you can never see an animal walking around that isn't more specifically something else (duck, pig, etc.). 

    The Animal is the abstract class and Duck/Pig/Cat are all classes that derive from that base class. Animals might provide a function called "Age" that adds 1 year of life to the animals. It might also provide an abstract method called "IsDead" that, when called, will tell you if the animal has died. Since IsDead is abstract, each animal must implement it. So, a Cat might decide it is dead after it reaches 14 years of age, but a Duck might decide it dies after 5 years of age. The abstract class Animal provides the Age function to all classes that derive from it, but each of those classes has to implement IsDead on their own.

    Now, an interface is like an abstract class, except it does not contain any logic. Rather, it specifies an interface. So, there might be an interface called IFly. This might have the methods GoForward and GoDown. Those methods would not actually contain any logic... each class that implements interface IFly would have to implement those GoForward and GoDown methods. You could have classes Duck and Finch implement interface IFly. Then, if you want to keep a list of instances that can fly, you just create a list that contains items of type IFly. That way, you can add Ducks and Finches and any other instance of a class the implements IFly to the list.

    So, abstract classes can be used to consolidate and share functionality, while interfaces can be used to specify what the common functionality that will be shared between different instances will be, without actually building that functionality for them. Both can help you make your code smaller, just in different ways. There are other differences between interfaces and abstract classes, but those depend on the programming language, so I won't go into those other differences here.

    Do you mean real-world as in "A live software system which includes  Abstract classes or interfaces" or do you mean "


    If you mean the latter think of Vehicle as an abstract class. You can't yet do anything with it because you have no idea what it does, or how to drive it.

    abstract class Vehicle{}

    Vehicles could be split into morotized and pedal-powered, but still this is abstract, we still dont know what to do with it.

    abstract class MotorVehicle : Vehicle {} 
    abstract class PedaledVehicle : Vehicle {}

    You could now define a concrete (non-abstract) class, like car.

    class MotorCar : MotorVehicle {}

     Intefaces come in handy you can only inherit from one base class. So imagine some vehicles are drivable, others are remote controlled, some vehicles use a stearing wheel, others dont

    interface IDrivable{}
    interface IHasStearingWheel{}

    Now you could derive a DrivableMotorCar from its base clas, and also implement other behaviours.
    class DrivableMotorCar : MotorVehicle, IDrivable, IHasStearingWheel {}


    Recommendations for Abstract Classes vs. Interfaces

    The choice of whether to design your functionality as an interface or an abstract class (a MustInherit class in Visual Basic) can sometimes be a difficult one. An abstract class is a class that cannot be instantiated, but must be inherited from. An abstract class may be fully implemented, but is more usually partially implemented or not implemented at all, thereby encapsulating common functionality for inherited classes. For details, see Abstract Classes.
    An interface, by contrast, is a totally abstract set of members that can be thought of as defining a contract for conduct. The implementation of an interface is left completely to the developer.
    Here are some recommendations to help you to decide whether to use an interface or an abstract class to provide polymorphism for your components.
    • If you anticipate creating multiple versions of your component, create an abstract class. Abstract classes provide a simple and easy way to version your components. By updating the base class, all inheriting classes are automatically updated with the change. Interfaces, on the other hand, cannot be changed once created. If a new version of an interface is required, you must create a whole new interface.
    • If the functionality you are creating will be useful across a wide range of disparate objects, use an interface. Abstract classes should be used primarily for objects that are closely related, whereas interfaces are best suited for providing common functionality to unrelated classes.
    • If you are designing small, concise bits of functionality, use interfaces. If you are designing large functional units, use an abstract class.
    • If you want to provide common, implemented functionality among all implementations of your component, use an abstract class. Abstract classes allow you to partially implement your class, whereas interfaces contain no implementation for any members.

    Reference:-


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    Model View Controller (MVC) in Asp.net

    The Model-View-Controller (MVC) pattern was introduced in 1970s. It is a software
    design pattern that splits an application into three main aspects : Model, View and Controller. Moreover, MVC pattern forces a separation of concerns within an application for example, separating data access logic and business logic from the UI.

    Model
    The Model represents a set of classes that describes the business logic and data. It also defines business rules for how the data can be changed and manipulated.
    Moreover, models in Asp.Net MVC, handles the Data Access Layer by using ORM tools like Entity Framework or NHibernate etc. By default, models are stored in the Models folder of the project.

    View
    The View is responsible for transforming a model or models into UI. The Model is responsible for providing all the required business logic and validation to the view. The view is only responsible for displaying the data, that is received from the controller as the result.
    Moreover, views in Asp.Net MVC, handles the UI presentation of data as the result of a request received by a controller. By default, views are stored in the Views folder of the project.

    Controller
    The Controller is responsible for controlling the application logic and acts as the coordinator between the View and the Model. The Controller receive input from users via the View, then process the user's data with the help of Model and passing the results back to the View.
    Moreover, controllers in Asp.Net MVC, respond to HTTP requests and determine the action to take based upon the content of the incoming request. By default, controllers are stored in the Controllers folder of the project.

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    July 4, 2013

    Banking System Basics | History and Study of RBI |

    What is Banking

    A bank is financial institution that provides banking and other financial services to their customers such as accepting deposits and providing loans. A banking system is referred to as system provided by the bank which offers cash management services for customers, reporting the transactions of their accounts and portfolios, throughout the day.
    The bank safeguards the money and valuables and provide loans, credit, and payment services, such as checking accounts, money orders and cashier’s cheques. The banks also offer investment and insurance products.
    Need of the Banks
    1. 1. To provide security to the savings of customers.
      2. To control the supply of money and credit.
      3. To encourage public confidence in the working of the financial system, increase saving speedily and efficiently.
      4. To avoid focus of financial powers in the hands of a few individuals and institutions.
      5. To set equal norms and conditions to all types of customers.

    History of Banking System in India

    The first Bank in India, called The General Bank of India was established in the year 1786. The East India Company established The Bank of Bengal/Calcutta(1809), Bank of Bombay(1840) and Bank of Madras(1843). These three banks units are also known as Presidency Banks. The next bank was Bank of Hindustan which was established in 1870. The Allahabad Bank was established in 1865, was the first bank completely run by Indians. Punjab National Bank Ltd. was set up in 1894, with its headquarters at Lahore.
    Between 1906 and 1913, Bank of India, Central Bank of India, Bank of Baroda, Canara Bank, Indian Bank, and Bank of Mysore was set up. The Imperial Bank came into existence on the 27th January, 1921 by the Imperial Bank of India Act of 1920, where all Presidency Banks amalgamated. The Imperial Bank was the biggest bank until 1935. On 1 April 1935, the Reserve Bank of India was established under the reserve bank of India act.

    Reserve Bank of India

    RBI is the central bank of India. Its head quarters is in Mumbai. It was originally constituted as a shareholder’s bank with a capital of Rs.5 crores. The entire share capital was contributed private shareholders with the exception of the nominal value of Rs 2.2 lakh subscribed by the central bank. It was set up on the recommendations of the Hilton Young Commission. Initially it was located in Kolkata. It moved to Mumbai in 1937. After independence, the reserve bank of India was nationalized.

    Functions of the reserve bank

    1. Note issue – Under Section 22 of the Reserve Bank of India Act, the Bank has the sole right to issue bank notes of all denominations.
    2. Banker to government – The second important function of the reserve bank of India is to act as government banker, agent and adviser. RBI carries out banking operations (e.g. to receive and make payments, carry cash reserves) for all governments except J&K—acts as advisor to govt on all monetary and banking matters.
    3. Custodian of foreign exchange reserve – Besides maintaining the rate of exchange of the rupee, the Reserve Bank has to act as the custodian of India’s reserve of international currencies.
    4. Banker’s bank and Lender of last resort – The scheduled banks can borrow from the Reserve Bank of India on the basis of eligible securities or get financial accommodation in times of need or stringency. Banks have been asked to keep cash reserves equal to 3 percent of their aggregate deposit liabilities.
    5. Controller of credit – The Reserve Bank of India is the controller of credit i.e. it has the power to influence the volume of credit created by banks in India. It can do so through changing the Bank rate or through open market operations.
    6. Bank of settlement and clearance – As the reserve bank keeps the cash balance of all commercial banks it is easy for the bank to act as settlement bank or clearing house for other banks.
    7. Information and research functions – The reserve bank undertakes collection and dissemination of information and conducts research in this field. The bank issues several periodical publications, which attempt to explain and assess the significance of economic developments in the country.

    Some Important Milestones

    1. 1. 1935- The Reserve Bank of India is established on April 1, and starts functioning.
      2. 1947- The Reserve Bank of India goes national, as India gains independence.
      3. 1949- The Reserve Bank of India is nationalized.
      4. 2004- RBI puts in a modern payment and settlement system, strives to further strengthen the financial sector.
  • Structure of RBI

    Some Important Terms used by RBI

    1. Bank Rate: Rate of rediscount at which the RBI discounts the first class bills of exchange brought by the banks.
      Repo Rate: Injection of liquidity by the RBI is termed as ” Repo Rate” . This was introduced in Dec. 1992 and Reverse Repo Rate in Nov. 1996. RBI buys Govt. Securities for a short period usually a fortnight, with an agreement to sell it later. Thus repo rate is a short-term money market instrument to stabilize short term liquidity in the economy.
      Reverse Repo Rate: Repo Rate is the rate at which the RBI lends to commercial banks where as the Reverse Repo Rate is the rate at which the RBI borrows from the commercial banks against securities for a very short period. Repo and Reverse Repo rates are used as policy instruments for day-to-day liquidity management under the liquidity adjustment facility.
      Cash Reserve Ratio (CRR): It refers to the percentage of net demand and time deposits which the scheduled commercial banks have to keep with RBI at zero interest Rate as per RBI act 1934.
      Statutory Liquidity Ratio (SLR): It refers to the percentage of net demand and time deposits which the scheduled commercial banks have to keep with themselves. i.e. by purchasing Govt. Securities or in the form of cash or gold as per Banking Regulation Act 1949, Sec 24. SLR is a mechanism used by Commercial Banks for providing credit to the Govt.
      Public Debt: When the government is unable to meet its public expenditure through public revenue, its resort to public debt, public debt can be raised with in the country or out side the country.
      Public Revenue: It is the income of government through various sources like taxes, fees, profits of the state enterprise and grants.
      Public Expenditure: It is the expenditure of the public authority on various socio-economic and political activities. Expenditure may be spending on administration of law and order development of industries etc.
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    Stop page going back on backspace button click in asp.net,C#,java,PHP.


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