20 Commonly Asked Bank Interview Questions & Answers for PO/Clerk/SO
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.
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.
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
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.
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
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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
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.
Answer:
- RTGS: Real Time Gross Settlement.
- NEFT: National Electronic Fund Transfer.
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