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Interview Questions for Banking: (Part 1)

    interview_tips

     

    Bank interviews are basically based on four areas.

    1. Bio-data

    2. Subject

    3. Bank Terms

    4. GK (Current Affairs)

    5. Computers (Basics)

    1. Bio-data: About your family, About your town, About your studies, About your achievements, About your father’s working department, About your hobby, and any past work experience if you have.

    2. Subject: Candidate must have complete knowledge of the subject what he has studied.

    Any question can be asked in the subject. Prepare your subject especially basics.

    3. Bank Terms: If you are going for bank interviews basic banking knowledge is necessary. The following basic banking terms will help the candidate.

    4. GK: Be thorough with current affairs from past three months.

    Recent awards, Major issues, Sports related questions, State Governors and Chief ministers, Countries, Capitals, Currencies etc..,.

    5. Computers: Be thorough with basic computer terminology.

    Example: What is DOS, What is WWW, What is LAN, etc..,

    If you have any certificate, it will be an added advantage to the candidate.

     

     

    1. What is bank?

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

     

    2. Types of banks?

    Ans. Nationalized banks

    Private Banks

    Foreign banks

    Regional rural banks

    Co-operative banks

    Industrial banks etc..,

     

    3. What is a nationalized bank?

    Banks which are owned and run by government of India are called as nationalized banks.

    Example: Canara bank, syndicate bank, Vijaya bank, etc..,

    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.

     

    4. When banks are nationalized?

    Ans. In 1969 : 14 banks were nationalized.

    In 1980: 6 banks were nationalized.

     

    5. What is a Private bank?

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

    Example: karnataka bank, karurvysya bank, lakshmivilas bank etc..,

     

    6. What are foreign banks?

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

    Example: Citi bank, YES bank etc..,

     

    7. What is RBI [Reserve Bank of India], when it is established and what are its functions?

    Ans: RBI established in 1935, its head office in Mumbai. Present Governor of RBI “ D.SubbaRao”.

    Its functions:

    1. Issues currency notes

    2. Acts as bankers bank

    3. Maintains foreign exchange reserves

    4. Maintains CRR and SLR

    RBI is also called as “bankers bank”, because all banks will have a/c’s with RBI. It provides funds to all banks hence it is called as BANKERS BANK.

     

    8. What is RRB’S (regional rural banks)?

    Ans. 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).

    NABARD head office is at MUMBAI.

    Example of RRB’S: Pragathi grameena bank, Rayalaseema grameena bank etc.

    Every grameena bank is soponsered by a nationalised bank.

    Example: Pragathi grameena bank is sponsored by “Canara bank”.

    Share capital in RRB’s: Central government: 50%

    Sponsored bank: 35%

    State government: 15%

     

    9.What are co-operative banks?

    Ans. The main purpose of co-operative banks is to co-operate small scale industries, and to provide small loans.

    Example: Bellary district co-op bank etc.

     

    10. What are industrial banks?

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

    Examples: IDBI bank, Industrial bank of India etc..,

     

    11. Types of accounts in banks?

    Ans. 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 per cent. 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.

    Current accounts can be opened on firm names. Even individuals can also open current a/cs. But on firm names you cannot open SB 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 instalments.

    Interest rate is same as fixed deposits.

     

    12. What is Cheque?

    Ans. 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.

     

    13. What is crossing?

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

     

    14. What is account payee cheque?

    Ans. Account payee cheques can be routed only through accounts.

     

    15. What is a post-dated cheque?

    Ans. The date on the cheque beyond today’s date then cheque becomes post-dated.

     

    16. What is stale cheque?

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

     

    17. What is a mutilated cheque?

    Ans. It is a damaged cheque.

     

    We will continue the other questions in next blog. Stay in tune!

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