Important Banking Exam Terms

Full Forms for Information Technology Related Terms..

  • COMPUTER :- Common Operating Machine Particularly Used for Trade, Education, and Research.
  • SMS :- System Management Server.
  • ENIAC :- Electronic Numerical Integrator and Calculator.
  • PIN :- Personal Identification Number.
  • ISP :- Internet Service Provider.
  • IT :- Information Technology.
  • WWW :- World Wide Web (sometimes call W3).
  • WWW :- World Wide Wait - slang.
  • VIP :- Vines Internet Protocol.
  • ASP :- Active Server Page.
  • ASP :- Application Service Provider.
  • 3D :- Three Dimensional.
  • INS :- InterNet communication Settings.
  • CAD :- Computer Aided Design.
  • ECS :- Enhanced Chip Set.
  • FAQ :- Frequently Asked Questions (files often found on BBS and Internet).
  • DOS :- Disk Operating System.
  • POP :- Power On Password.
  • POP :- Post Office Protocol (how PCs get email from internet).
  • POP :- Point Of Presence (internet and WWW terminology for location of server).
  • STP :- Shielded Twisted Pair.
  • FORTRAN :- FORmula TRANslation language (programming language).
  • MODEM :- MODulate / DEModulate.
  • NCC :- Network Control Center.
  • IC :- Integrated Circuit.
  • IP :-  Internet Protocol.
  • UID :- User IDentification (internet- intranet- and server login accesses).
  • IRDA :- Infrared Data Association.
  • CLASS :- Compiled java program- often used as class extension.
  • NIC :- Network Interface Card.
  • PC :- Personal Computer.
  • RAS :- Remote Access Server / Service.
  • CD-ROM :- Compact Disk - Read Only Memory.
  • PPP :- Point to Point Protocol.
  • ARPANET :- Advanced Research Projects Agency Network (the beginning of the internet).
  • EEPROM :- Electronic Erasable Programmable Read Only Memory.
  • RDBMS :- Relational Data Base Management System.
  • MPEG :- Motion Picture Experts Group (file extension MPG).
  • PVC :- Permanent Virtual Circuits.
  • ASAP :- Application Assessment And Planning package (Lotus migration application).
  • CPU :- Central Processing Unit.
  • SSI :- Server Side Includes (web technology that allows for dynamic data exchange in web pages).
  • CMYK :- Cyan- Magenta- Yellow- blacK.
  • COBOL :- Common Business Oriented Language (programming language).
  • ID :- Internal Device.
  • BOSS :- Business Organizer Scheduling System (one of the original hand-held organizers).
  • HCL :- Hardware Compatibility List (what hardware works with Windows 95- a text file).
  • FCI :- Flux Changes per Inch (drive tech terminology).
  • MIS :- Management Information Systems.
  • MIS :- Multimedia Information Sources.
  • APL :- Automatic Programming Language.
  • DTP :- Desk-Top Publishing.
  • SMTP :- Simple Mail Transfer Protocol.
  • IPC :- Inter-Processes Communications.
  • PDC :- Primary Domain Controller.
  • HD :- Hard Disk 2 High Density (type of disk format).
  • PCI :- Personal Computer Interface .
  • PCI :- Peripheral Component Interconnect.
  • DBMS :- DataBase Management System.
  • CHAT :- Conversational Hypertext Access Technology (""talking"" in real time over the internet)".
  • DVD :- Digital Video Disk.
  • DOC :- DOCument (file format extension used by word processors such as MS Word).
  • DOC :- A word processing DOCument file extension  Often used by MS Word.
  • LCD :- Liquid Crystal Display (often found on laptops).
  • POS :- Point Of Sale (the scanners you see in supermarkets).
  • TM :- Text Message.
  • TM :- Test Mode (modem diagnostics).
  • URL :- Uniform Resource Locator.
  • IBM :- International Business Machines.
  • RDO :- Remote Data Objects.
  • VBA :- Visual Basic for Applications (programming language bundled with MS Office- can include ActiveX- not a full VB compiler- but can edit macros and commands).
  • AT :- Asynchronous Transmission.
  • AT :- Advanced Technology.
  • FTP :- File Transfer Protocol.
  • VGA :- Video Graphics Adapter.
  • ISM :- Information Services Manager.
  • SRC :- Sample Rate Conversion.
  • PDP :- Plasma Display Panel (laptops).
  • ODBC :- Open DataBase Connectivity (2 Components) (Microsofts shared data connections).
  • DB :- DataBase.
  • DB :- decibel.
  • ED :- External Device.
  • W3C :- World Wide Web Consortium.
  • MCSE :- Microsoft Certified System Engineer.

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Kumi Naidoo is next Secretary General of Amnesty International..

  • Amnesty International has appointed Kumi Naidoo as the next Secretary General of the global human rights movement.
  • South African human rights activist Kumi Naidoo has been appointed as the next Secretary General of Amnesty International.
  • He will take over from Indian activist Salil Shetty in August 2018.
  • Amnesty International has appointed Kumi Naidoo as the next Secretary General of the global human rights movement.

Mr. Kumi Naidoo :-

  • Mr. Naidoo, an Indian-orgin born in Durban, was formerly International Executive Director of Greenpeace. 
  • He was also the Founding Chair of the Global Call to Action against Poverty and Secretary General and CEO of CIVICUS, the World Alliance for Citizen Participation.

Amnesty International :-

  • Amnesty International is the largest human rights movement globally, with a global presence including offices in more than 70 countries, 2,600 staff and seven million members, volunteers and supporters worldwide. 
  • Mr. Shetty has been heading the Amnesty since 2010.

Ranveer Singh is Premier League's ambassador in India..

  • The Premier League has formed an official partnership with Indian film actor Ranveer Singh.
  • The Bollywood star is a passionate football fan and will help promote the Premier League to fans in India and globally.
  • Ranveer Singh, famous for his lead roles in films such as Bajirao Mastani and Befikre, is a supporter of Arsenal FC and closely follows Premier League action throughout the season. 
  • In this ambassadorial role he will be working to support the league’s community initiatives across India, promote fan events and share his passion for the game.
  • The league recently hosted an international fan park in Bengaluru, which saw more than 20,000 Indian fans engage with clubs and activities.

UN Appoints Henrietta Fore As UNICEF Head..

  • UN chief Antonio Guterres has appointed former senior US government official Henrietta H Fore as the new executive director of UNICEF, the world body said. 
  • Fore, 69, has worked to champion economic development, education and health, humanitarian assistance and disaster relief for the most vulnerable in the international and developing world.
  • She was the first woman to be appointed Administrator of the US Agency for International Development and Director of US Foreign Assistance in the Department of State, she held these positions between 2006 and 2009. 
  • From 1989 to 1993, she was working as the USAID Assistant Administrator for Asia and for Private Enterprise.
  • Currently CEO of Holsman International, a manufacturing and investment company, Fore also served as Undersecretary of State for Management, the Chief Operating Officer for the United States Department of State. 
  • In addition, she was member on the boards of the Overseas Private Investment Corporation and the Millennium Challenge Corporation.
  • Fore will become the seventh Executive Director on January 1, 2018. 

The United Nations Childrens' Fund (UNICEF) :-

  • Established :- 11 December 1946.
  • Headquarters :- New York City, Geneva.
  1. The United Nations International Children's Emergency Fund was created by the United Nations General Assembly on the 11th of December 1946, to provide emergency food and healthcare to children in countries that had been devastated by World War II.
  2. It is a member of the United Nations Development Group.

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Union Cabinet approves establishing India's first National Rail and Transportation University..

  • The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the Ministry of Railways’ transformative initiative to set up the first ever National Rail and Transport University (NRTU) in Vadodara to skill its human resources and build capability.
  • The University will be set up as a Deemed to Be University under de novo category as per the UGC [Institutions Deemed to be Universities] Regulations, 2016.
  • Government is working towards completing all approvals by April 2018 and to launch the first academic program in July 2018.

National Rail and Transportation University

  1. The University will be set up as a Deemed to Be University under de novo category as per the UGC [Institutions Deemed to be Universities] Regulations, 2016
  2. A not-for-profit Company under Section 8 of the Companies Act, 2013 will be created by the Ministry of Railways as the Managing Company of the proposed university.
  3. The company will provide financial and infrastructural support to the university and appoint Chancellor and Pro-Chancellor of the university.
  4. Board of Management comprising professionals and academics will be independent of the Managing Company and will have full autonomy to perform its academic and administrative responsibilities.
  5. Existing land and infrastructure at National Academy of Indian Railways (NAIR) at Vadodara, Gujarat will be utilized, and suitably modified and modernized for the purpose of the university.
  6. It is expected to have 3000 full time students. The funding of the new university will entirely come from Ministry of Railways.
  7. The university plans to use latest pedagogy and technology applications such as satellite based tracking, Radio Frequency Identification and Artificial Intelligence to improve on-the-job performance and productivity.
  8. Stakeholders will have access to Railways' facilities that will work as 'live labs' through which, they will be able to work on solving real life problems.
  9. University will have 'Centres of Excellence' showcasing high-end, niche technology like High Speed Train.

Union Government launches Project Darpan to improve postal services for rural customers..

Union Minister of Communications Manoj Sinha on 21 December 2017 launched Project DARPAN – “Digital Advancement of Rural Post Office for A New India” to improve the quality of service and add value to services for rural customers.

  • The project has an outlay of 1400 crore rupees and intends to provide a low power technology solution to each Branch Postmaster (BPM).
  • This will enable all 1.29 Lakhs Branch Post Offices (BOs) to improve the level of services being offered to rural customers across all the states. 
  • At Present, 43171 Branch Post Offices have migrated under the “DARPAN” project with the aim of financial inclusion to rural population. 

Project Darpan

  1. Project Darpan aims to achieve financial inclusion of un-banked rural population.
  2. The Project will increase the rural reach of the Department of Posts and enable BOs to increase traffic of all financial remittances, savings accounts, Rural Postal Life Insurance, and Cash Certificates.
  3. It will improve mail operations processes by allowing for automated booking and delivery of accountable article.
  4. It will increase revenue using retail post business, provide third party applications and make disbursements for social security schemes such as MGNREGS.
  5. The project is targeted to be completed by March 2018.

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International Organizations and their Headquarters

  • Amnesty international :- London.
  • APEC (Asia Pacific Economic Forum) :- Singapore.
  • ASEAN (Association of South East Asian Nations) :- Jakarta.
  • Commonwealth of Nations :- London.
  • EU (European Union) :- Brussels.
  • FAO (Food and Agricultural Organization) :- Rome.
  • IAEA (International Atomic Energy Agency) :- Vienna.
  • ICAO (International Civil Aviation Organization) :- Montreal.
  • ICJ (International Court of Justice) :- The Hague.
  • ILO (International Labor Organization) :- Geneva.
  • IM (International Maritime Organization) :- London.
  • IMF (International Monetary Fund) :- Washington.
  • International Standards Organizations :- Geneva.
  • NAM (Non Aligned Movement) :- New York/Istanbul.
  • NATO (North Atlantic Treaty Organization) :- Brussels.
  • OECD (Organization for Economic Cooperation and Development) :- Paris.
  • OPEC (Organization of Petroleum Exporting Countries) :- Vienna.
  • SAARC (South Asian Association for Regional Cooperation) :- Kathmandu.
  • Transparency International :- Berlin.
  • UNAEC (United Nations Atomic Energy Commission) :- New York.
  • UNAIDS (Joint United Nations Programme on HIV/ AIDS) :- Geneva.
  • UNCDF (United Nations Capital Development Fund) :- New York.
  • UNCTAD (United Nations Conference on Trade and Development) :- Geneva.
  • UNODC (United Nations Office on Drugs and Crimes) :- Vienna.
  • UNDP (United Nations Development Programme) :- New York.
  • UNEP (United Nations Environment Programme) :- Nairobi.
  • UNESCO (United Nations Educational scientific and cultural Organization) :- Paris.
  • UNFCCC (United Nations Frame Convention on Climate Change) :- Germany.
  • UNFPA (United Nations Population Fund) :- New York.
  • UNHCR (United Nations High Commissioner for Refugees) :- Geneva.
  • UNICEF (United Nations Children’s Education Fund) :- New York.
  • UNO (United Nations Organization) :- New York.
  • WHO (World Health Organization) :- Geneva.
  • WMO (World Metrological Organization) :- Geneva.
  • World Bank :- Washington.
  • World Intellectual Property Organization :- Geneva.
  • WTO (World Tourism Organization) :- Madrid.

Wealth Tax Act, 1957

Date commenced :- 1 April 1957.

  • The Wealth Tax Act, 1957 was an Act of the Parliament of India which provides for levying of wealth tax on an individual, Hindu Undivided Family (HUF) or company is in possession of, on the corresponding Valuation Date. 
  • The Act applies to the whole of India including the state of Jammu and Kashmir and the Union Territories. 
  • The application of the Act has been discontinued from 1 April 2016.

Wealth Tax Act

  • The Wealth Tax Act, 1957 governs the taxation process associated with the Net Wealth of an Individual, a Hindu Undivided Family (HUF), or a Company possesses on the Valuation Date.
  • The Reserve Bank of India is exempted from paying Wealth Tax though the entity fulfils the requirement of being a corporation in India. 
  • It is an Act that provides for the levy of Wealth Tax on liable Assessees and came into force on April 1, 1957. 
  • This Act requires liable Assessees to file their Wealth Tax Return online in Form BB. 
  • The due-date for filing return of Wealth Tax shall be same date as that applicable to an assessee under the Income Tax Act.
  • Wealth Tax is a direct tax and is to be filed separately. 
  • It is not part of the Income Tax Return that is filed at the end of a Financial Year in India.

Valuation date

  • The valuation date is an important component in the calculation of Wealth Tax. 
  • The Net Wealth that an assessee possesses on the valuation date determines the amount of tax, the residential status of the assessee, value of an asset, and exact amount of wealth at the end of the date.
  • The valuation date is considered the day of 31 March immediately preceding the Assessment Year. 

When the Assessment Year is 1 April 2016 to 31 March 2017, the valuation date will be 31 March 2016.

Wealth Tax is not applicable to --

  1. Trusts
  2. Artificial Judicial Persons
  3. 9* Partnership firms
  4. Association of persons (AOPs)
  5. A company registered under Section 25 of the Company Act, 1956
  6. Co-operative Societies
  7. Social clubs
  8. Political parties
  9. Mutual funds specified under Section 10 Clause (23D) of the Income Tax Act.

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Narendra Modi inaugurates Tuirial dam in Mizoram

Mizoram CM :- Lal Thanhawla, 

Governor :- Lt. General (Retd.) Nirbhay Sharma.

  • Prime Minister Narendra Modi inaugurated the 60-megawatt Tuirial hydroelectric power project from Aizawl, Mizoram. 
  • Mizoram had become the third power- surplus state in the north-east after Sikkim and Tripura.
  • The earthfill and gravity dam over Tuirial river has been constructed as a central sector project and implemented by North Eastern Electric Power Corporation(Neepco) under the administrative control of the ministry of power.
  • The Tuirial project was announced and cleared in 1998 by the then Atal Bihari Vajpayee government. 
  • It was the first major central project to be successfully commissioned in Mizoram. 
  • Prime Minister also inaugurated the Shillong - Nongstoin Rongjeng Tura road.
  • The first unit was commissioned on August 25 and the second one on November 28 this year.

President of India Lays Foundation Stone of ‘NYAYA GRAM’ Project

The President of India, Shri Ram Nath Kovind, laid the foundation stone of the 'Nyaya Gram project' of the High Court of Allahabad in Allahabad, Uttar Pradesh.

  • As per the President, the Nyaya Gram project would prove to be a milestone in fulfilling the requirements of the Allahabad High Court.
  • The President said that citizens have faith in the judiciary.
  • And yet common people tend to avoid knocking on its door.
  • It is important to change this situation.
  • On all of us lies the responsibility of providing justice on time, making the justice system less expensive, providing judgments in a language understandable to the common citizen, and ensuring justice for women and weaker sections in society.

(In the year 1866, the High Court for the North-Western Provinces came into existence at Agra.

The first Chief Justice of High Court of North-Western Provinces- Sir Walter Morgan.

The seat of the High Court for the North-Western Provinces was shifted from Agra to Allahabad in 1869 and its designation was altered to ‘the High Court of Judicature at Allahabad’.)

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Uttar Pradesh and Maharashtra tops in highest number of cyber-crimes

  • Uttar Pradesh stands on top of recording highest number of cyber crimes in India followed by Maharashtra.
  • As per the data, Uttar Pradesh reported the maximum number of such cases (2,639) in 2016, followed by Maharashtra (2,380 cases), Karnataka (1,101 cases) and Rajasthan (941 cases).
  • It is noteworthy that among the Northeastern states, Assam, Manipur and Nagaland witnessed a surge in cases under cybercrimes year-on-year during 2016, while the other states reported a decline in number of such incidences.
  • Manipur reported 11 cases in 2016 as against six in 2015, while in Nagaland there were two incidences of cybercrimes in 2016 compared to none in the previous year.
  • Tripura witnessed eight such incidents last year as against 13 in 2015.
  • In Arunachal Pradesh, there were four such cases in 2016 compared to six in the previous year.
  • The total number of cases in Meghalaya came down to 39 last year from 56 in 2015.
  • Mizoram reported only one such case in 2016 compared to eight in 2015.
  • Nationally, a total of 12,317 cases of cybercrimes were reported in 2016 compared to 11,592 in 2015, which is an increase of over six per cent, NCRB data said.

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Non Banking Financial Company

Important Points 

  • NBFCs do offer all sorts of banking services, such as :- Loans and credit facilities, Retirement planning.
  • Systematically important NBFCs are Non-banking Financial companies whose asset size is more than ____ Crore as per their balance sheet. :- 500.
  • How many types of NBFC in India :- Ten.
  • NBFC cannot accept :- Demand deposits.
  • NBFCs do not form part of the payment and settlement system and cannot issue :- Cheques & Debit Cards.
  • NBFCs are allowed to accept/renew public deposits for a minimum period of :- 12 Months.
  • NBFCs are allowed to accept/renew public deposits for a maximum period of :- 60 Months.
  • The interest rates charged to the borrowers by NBFCs are :- Not regulated by RBI.
  • The interest rate of NBFC are chosen by :- NBFC Itself.
  • Which is the example of NBFC :- Fusion Microfinance Pvt Ltd, S. V. Creditcare Network Pvt. Ltd, Saija Finance Pvt. Ltd, LIC housing Finance limited.
  • Which statement is true :- NBFC cannot accept demand deposits.
  • The deposits with NBFCs are :- Not insured.
  • Which statement is true :- NBFCs (except certain AFCs) should have minimum investment grade credit rating.
  • The repayment of deposits by NBFCs is :- Not guaranteed by RBI.
  • All NBFCs are not entitled to :- Accept public deposits.
  • Which of the following NBFC can accept public deposits :- Only those NBFCs to which the Bank had given a specific authorization.
  • _______ does not guarantee repayment of deposits by NBFCs even though they may be authorized to collect deposits :- RBI.
  • If an NBFC defaults in repayment of deposit, the depositor can approach :- Company Law Board, Consumer Forum, Civil case in Court.
  • There is __________for hearing complaints against NBFCs :- No ombudsman.
  • In respect of credit card operations of an NBFC, which is a subsidiary of a bank the customer will have the option to approach ____ – Concerned Banking Ombudsman.
  • _________ conducts on-site inspection and off-site surveillance of NBFCs :- RBI.
  • The RBI conducts the inspection under the system known as the alphabets of :-CAMELS.
  • The interest may be paid or compounded at rests not shorter than :- Monthly rests.

  • Minimum capital required for setting up an NBFC is :- 100 Crores.
  • The company should be registered under __________of the companies Act, 1954 :- Section 3.

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Goa CM to unveil Indias first mobile food testing lab

India's 'first' mobile food testing laboratory, which will enable on-the-spot food safety tests to be conducted in Goa, would be launched by Chief Minister Manohar Parrikar on December 10, 2017.

"This is the first ever 'Food Safety on Wheel' mobile laboratory in the country.

The vehicle is equipped to conduct on-the-spot tests to check the food quality.

It will also check the hygiene level of water, he said adding that the results can be received within 15 minutes.

The mobile laboratory costs Rs 45 lakh and it has been fully funded by the Centre, the minister added.

Kacheguda Becomes Indias First Energy Efficient Railway Station

Kacheguda railway station in Hyderabad division of the SCR (South Central Railway), becomes India's 'First' Energy-Efficient 'A1 Category' Railway Station.

The station has achieved 100% energy efficiency by replacing 1,312 conventional lights with light-emitting diode (LED) lighting, among other steps.

About 370 ceiling fans, too, were replaced with energy efficient Brushless DC Electrical (BLDC) motors fans, and 12 air conditioners with energy efficient inverter-type air conditioners.

All these measures would save about 1.76 lakh units and ₹14.08 lakh per annum with reduction of the connected load by 46.18 kW for Railways, said General Manager Vinod Kumar Yadav.

Complimenting Divisional Railway Manager Arun Kumar Jain and his colleagues V. Venkata Ramana and P. Prem Kumar for the feat, Mr. Yadav said they had put in extensive efforts to achieve this distinction.

Kacheguda Railway station is a historic building and had completed 100 years.

Situated in the heart of Hyderabad, it was built in 1916 by the Nizam’s Guaranteed State Railway during the reign of Mir Osman Ali Khan, the seventh Nizam.



India Wins First-Ever South Asian Regional Badminton Team Championship

India won the first-ever South Asian Regional Badminton Team Championship.

In the title clash played in Guwahati, India defeated Nepal, 3-0.

India who came into the final without losing a single match continued their good run with Aryaman Tandon drawing the first blood in the boys' singles competition.

Aryaman Tandon defeated Dipesh Dhami 21-9, 21-15 while Ashmita Chaliha defeated Rashila Maharjan 21-9, 21-6  in the Girls’ singles event.

In Boys’ Doubles, the pair of Arintap Dasgupta and Krishna Prasad came back from a game behind to beat the duo of Dipesh Dhami and Nabin Shrestha 19-21, 21-14, 21-11.

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Prime Minister Narendra Modi Inaugurated B R Ambedkar International Centre

Prime Minister Narendra Modi inaugurated the .BR Ambedkar International Centre in New Delhi.

The centre was a fusion of Buddhist and modern architecture.
He had laid the foundation stone of the center in 2015.

The prime minister also unveiled two statues of the Dalit icon at the centre in Janpath.

Union Minister of Social Justice and Empowerment Thawar Chand Gehlot, Minister of State Ramdas Athawale and Union Sports and Youth Affairs Minister Vijay Goel were also present at the event.

Modi added that the government had developed five places related to Babasaheb Ambedkar into pligrimage spots.

He added that the five pilgrimage spots -- in
Delhi, Mumbai, Nagpur, Mhow and London -- were like a homage from the present generation.

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Computer Knowledge

Some Important Full Form of Programming Languages :-

BASIC :- Beginners All-purpose Symbolic Instruction Code.

COBOL :- Common Business Oriented Language.

FORTRAN :- FORmula TRANslation.

ALGOL :- ALGOrithmic Language.

PROLOG :- PROgramming in LOGic.

HTML :- Hyper Text Markup Language.

XML :- eXtensible Markup Language.

CSS :- Cascading Style Sheet.

JS :- JavaScript.

PHP :- Hypertext Preprocessor.

VBS :- Visual Basic Scripting Language.

ASP :- Active Server Pages.

JSP :- Java Server Pages.

AJAX :- Asynchronous JavaScript And XML.

PERL :- Practical Extraction and Reporting Language.

LISP :- LISt Processing.

J2EE :- Java 2 Platform Enterprise Edition.

SQL :- Structured Query Language.

XSL :- EXtensible Stylesheet Language.

ADO :- Active Data Object.

VFP :- Visual FoxPro.

iMAC :- iNTERNET MACintosh.

CFML :- cold fusion markup language.

SAP :- System Analysis and Programming.

BCPL :- basic combined programming language.

ORACLE :- Oak Ridge Analytical and Common Logical Engine.

MS WINDOWS :- MicroSoft Wide Interactive Networking Development for Office Work Solutions.

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