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20 Commonly Asked Bank Interview Questions & Answers for PO/Clerk/SO

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Commonly Asked Bank Interview Questions

Commonly Asked Bank Interview Questions: Thousands of fresher’s as well as experienced candidates appeared in Banking Exam to become world class banker.  “20 Commonly Asked Bank Interview Questions & Answers” is for those individuals, who are going to appear in Bank Interview.

Every country has its regional, national or international level banks for which young and passionate seekers are get hired. To Recruit personnel, the bank authorities conduct various interviews at different levels. To help those contenders in qualifying selection round these Bank Interview Questions for PO/Clerk/SO can be a great help.  

Benefit of Bank Interview Questions & Answers:

After months of hard work and then clearing the bank exam, candidates find great enthusiasm in themselves. But at the time, they will get a call for interview, they must be think about How to clear the interview round.  

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On this page of www.privatejobshub.in the below provided Commonly asked bank interview Questions with some tips will surely help you to crack the Bank Interview Exam. Here are Some of the most common Banking Interview Questions that you can surely expected to be asked in interview for any post of any bank:

Commonly Asked Bank Interview Questions

Ques1. What is bank?

Answer1 . Bank is financial institution which accepts deposits from the public for the purpose of lending.

Ques2. Types of banks?

Answer 2 . Nationalized banks, Private Banks, Foreign banks, Regional rural banks, Co-operative banks, Industrial banks etc..,

Question3. What is a nationalized bank?

Answer 3. Banks which are owned and run by government of India are called as nationalized banks. There are total 20 nationalized banks. State bank of India has got 7 subsidiaries they are State bank of Hyderabad, State bank of Mysore, State bank of Travancore, State bank of Indore, State bank of Sourashtra, State bank of Bikaner, state bank of Jaipur.

Ques4. When banks are nationalized?

Answer4. In 1969: 14 banks were nationalized. In 1980: 6 banks were nationalized.

Ques5. What is a Private bank?

Answer5. Banks which are owned and run by individuals are called private banks.


Commonly Asked Bank PO Questions with Answers:

Ques1. What is the economy?

Answer1. The economy of India relates all the activities including production, distribution of goods and services in a particular geographic region. There are three types of economy system : planned , market and mixed. you find this in IBPS Indian economy questions mostly.

Ques2. What are the types of Economy?

Answer2. Three types of economy :
Capitalist economy: profit motive, the law of inheritance, competition, price mechanism, inequalities.
Socialist economy: central planning, social welfare, no class conflicts
Mixed economy: public and private sector, government regulation, economy planning, subsidy, economic planning

Ques3. What is KYC and What are its Guidelines?

Answer3. KYC stands for ‘Know Your Customer‘. As per KYC guidelines prescribed by RBI, some personal information of the customer is required while opening an account (or renewal of old accounts!). The objective is to enable positive identification of customers by their respective Banks; and to prevent money laundering.
The documents as mandated under KYC guidelines are:
  • Photograph
  • Proof Of Identity: This includes Aadhar, Pan Card, Driving license, Govt ID, or any other document acceptable to Branch Manager
  • Proof Of Address: This includes Ration Card, Electricity Bill, or any other document acceptable to Branch Manage.
Ques4. What is RBI [Reserve Bank of India], when it is established and what are its functions?

Answer4. RBI established in 1935, its head office in Mumbai. Present Governor of RBI “D. Subba Rao”.

Its functions:
  • Issues currency notes
  • Acts as bankers bank
  • Maintains foreign exchange reserves
  • Maintains CRR and SLR
Ques5. Explain CIBIL

Answer5. Credit Information Bureau (India) Limited, commonly known as CIBIL, is India’s first Credit Information Company or Credit Bureau. It maintains records of all credit-related activity of individuals and companies including loans and credit cards. 


Commonly Asked Bank Clerk Questions with Answers

Ques1. What are industrial banks?

Answer1. The main purpose of industrial banks is to provide big loans to large scale industries.

Ques2. Types of accounts in banks?

Answer2. Saving’s bank account [SB a/c]: The main purpose of SB a/c is to encourage small savings from the public. Interest paid on SB a/c is 3 percent. Any individual can open SB a/c. An Indian residing at abroad can open a NRI a/c. NRI represents non-resident Indians. 
  • Current Account: It’s a running and active account. No interest is paid on current a/c.
  • Fixed Deposit Account: Amount is kept for a fixed period. Higher rate of interest will be paid on this a/c.
  • Recurring Deposit [RD A/C]: A fixed amount can be deposited in monthly installments. Interest rate is same as fixed deposits.
Ques3. What are foreign banks?

Answer3. Banks which are foreign originated [based] are called foreign banks

Ques4. What is RRB'S (regional rural banks)?

Answer4. Main purpose of RRBs is to improve banking habit in rural areas and save formers from money lenders. RRBs works under supervision of NABARD (National Bank for Agriculture and Rural Development and NABARD head office is at MUMBAI.

Ques5. What is Cheque?

Answer5. Cheque is a negotiable instrument containing conditional order to pay sum of money to the person mentioned on it or to the bearer of the instrument.

Also Check

Commonly Asked Bank SO Questions with Answers:

The interview question of  Specialist Officers will be based on  may terms like Personality Based, Profile Based Questions, Professional Knowledge Questions, Professional Knowledge Questions

Get More Commonly Asked Bank Interview Questions:

Ques1. What is crossing?

Answer: Two parallel lines drawn on the top left corner of the cheque.

Ques2. What is account payee cheque?

Answer: Account payee cheques can be routed only through accounts.

Ques3.What is a postdated cheque?

Answer: The date on the cheque beyond today’s date then cheque becomes postdated.

Ques4. What is stale cheque?

Answer: Cheque is valid for six months. If the date on the cheque is before six months, then the cheque becomes stale cheque.

Ques5. What is a mutilated cheque?

Answer: It is a damaged cheque.

Ques6. What is At Par cheque?

Answer: It is payable anywhere in India.


Ques7. What is Multi city cheque?

Answer: A cheque which is payable in any branch of a particular bank.

Ques8. What is Repo rate?

Answer: The rate at which RBI lends money to other banks.

Ques9. What is Reverse Repo rate?

Answer: Repo rate is the rate at which the central bank of a country (Reserve Bank of India in case of India) lends money to commercial banks in the event of any shortfall of funds. Repo rate is used by monetary authorities to control inflation.

Ques10. Which bank is called as Central bank?

Answer: RBI is also called as Central bank.

Ques11. What is Internet banking?

Answer: Banking through internet is called Internet banking.

Ques12. What is Inflation?

Answer: It is a state where money looses the value hence prices will go up (or) Decreasing the value of money.

Ques13. What is Deflation?

Answer: It is opposite to inflation. Money will have more value. Here the product looses the value.

Ques14. What is Debit cum ATM card?

Answer: The customer can deposit and withdraw cash by means of magnetic ATM card.


Ques15. What is ATM?

Answer: Automatic Teller Machine

Ques16. What are PLR and BPLR?

Answer:
  • PLR - Prime Lending Rate
  • BPLR - Basic Prime Lending Rate
Ques17. What is Credit card?

Answer: Credit card is a plastic instrument that can be used for the purchase of goods and services. You can buy the services and then pay the cash to the bank. Limits will be fixed based on the net worth of the customer.
Leading credit cards: VISA, MASTER.

Ques18. What is an NRI a/c?

Answer: NRI stands for “Non Resident Indian”. An Indian who is residing in abroad can open an SB a/c in Indian banks. These accounts are called NRI a/cs.


Ques19. What are CRR and SLR?

Answer:
  • CRR: Cash Reserve Ratio – It is the ratio of physical cash that every bank has to keep with RBI.
  • SLR: Statutory Liquidity Ratio – It is the ratio of liquid assets that every bank has to keep with RBI.
Ques20. What are RTGS and NEFT?

Answer:
  • RTGS: Real Time Gross Settlement.
  • NEFT: National Electronic Fund Transfer.
These two are the two methods through which funds can be transferred from one bank to another bank.

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