General Bank Interview Questions

SBI and IBPS interview Question

1.)What is a Repo Rate? 
Ans-Whenever the banks have any shortage of funds they can borrow it from RBI. Repo rate is the rate at which our banks borrow rupees from RBI. A reduction in the repo rate will help banks to get money at a cheaper rate. When the repo rate increases borrowing from RBI becomes more expensive

2.)What is the difference between Cheque and Demand Draft?
Ans-A cheque is issued by a person from his personal account. The bank will not honour the cheque if sufficient balance is not there in your account .But A demand draft is issued by a bank only when the amount of draft plus commission has been paid to bank upfront and in this case the payment against the bank draft is guaranteed by the issuing bank. The bank draft is as good as cash.

3.)What is the Use of Computers in a Bank?
Ans-It’s easier to access or change the information compared to the old fashioned way of writing it on a piece of paper and placing it in a filing cabinet. Modern computers can store so much more information nowadays. An employee can also check a customer’s account balance instantly. Accounting software makes it easier for businesses.Of course, the simplest way is for number crunching. Computers can solve billions of complex mathematical operations in fractions of a second. 

4.)What is IPO?
Ans-Initial Public Offer (IPO) is a source of collecting money from the public for the first time in the market to fund for its projects. In return, the company gives the share to the investors in the company

5.) What is GDP?
Ans-GDP is the total market value of all final goods and services produced in a country in a given year which is equal to total consumer, investment and government spending, plus the value of exports, minus the value of imports. Gross Domestic Product (GDP) can be estimated in three ways which are Expenditure basis,Output basis,Income basis.

6.)What is GNP? 
Ans-GNP is an estimated value of the total worth of production and services, by citizens of a country, on its land or on foreign land, calculated over the course on one year.

7.)What is Deposit Rate?
Ans-Deposit Rate is the interest rate paid by financial institutions to deposit account holders.

8.)What is Disinvestment? 
Ans-The Selling of the government stake in public sector undertakings.

9.)What is Fiscal Deficit?
Ans-The difference between total revenue and total expenditure of the government is termed as fiscal deficit. 

10.)What is Online Banking?
Ans-
Online banking is a electronic payment system also referred as Internet banking, e-banking, virtual banking and by other terms.Which enables customers of a financial institution to conduct financial transactions on a website operated by the institution.

11.)What is Revenue deficit?
Ans-A mismatch in the expected revenue and expenditure can result in revenue deficit.

12.)What is banks its features and its types?
Ans-A bank is a financial organization where people deposit their money to keep it safe.Banks play an important role in the financial system and the economy. As a key component of the financial system, banks allocate funds from savers to borrowers in an efficient manner.

13.)What is SENSEX and NIFTY?
Ans-The Sensex is an indicator of all the major companies of the BSE. 
The Nifty is an indicator of all the major companies of the NSE.

14.) What is Recession? 
Ans-Recession is a slowdown or a massive contraction in economic activities. A significant fall in spending generally leads to a recession.

15.) Who are the deputy governors of RBI?
Ans-Raghuram Rajan

16.)What are the functions of RBI?
Ans-1. Issue of Banknotes
2. Banker to Government
3. Custodian of Cash Reserves of Commercial Banks
4. Custodian of Country’s Foreign Currency Reserves
5. Lender of Last Resort
6. Central Clearance and Accounts Settlement
7. Controller of Credit

17.)What are the basics of Monetary policy?
Ans-It is a process by which monetary authority such as central bank handle the supply of money in the economy by its control over interest rates in order to maintain price stability and achieve high economic growth.

18.)What are the important products or schemes launched by various banks recently?
Ans-TAB BANKING FACILITY = SBI
BOUTIQUE FINANCING SCHEME = SBI
Twitter Handle account = SBI
Asha Home loan = AXIS BANK
Airtel money = AXIS BANK+AIRTEL
Kisan card = AXIS BANK
M-Pesa = ICICI+Vodafone
Branch on Wheel = ICICI Bank in odisha
I-Mobile app for windows phone = ICICI
Instant money transfer = BOI
M-Wallet = Canara Bank
E-Wallet = IRCTC
Student Travel Card = ICICI
E-KYC = SBI
State Bank Freedom App – State Bank of India

19.)What is LAF ?
Ans-Liquidity adjustment facility is a tool or monetary policy tool which allows banks to borrow money through repurchase agreements.In adjusting the day to day mismatches in liquidity LAF is used.

20.)CORE stands for?
Ans-
CORE Banking may stand for “centralized online real-time exchange”.

21.)What is ‘Green Channel’ facility?
Ans-The way through customs for people who are not bringing goods into the country on which they have to pay tax.

22.)What is PO’s?
Ans-A person who is newly recruited as an officer will be under probation period for at least 2 years.During this phase, he/ she undergoes training performs the allotted work.Since candidates join the bank at a junior level, they are being called Probationary Officer (PO) but the actual designation could be assistant manager.

23.)What Is Plastic Money?
Ans-Plastic money is a term that is used as hard plastic cards we use in our daily routine in place of actual bank notes. Which is in different forms such as cash cards, credit cards, debit cards, prepaid cash cards and store cards.

24.)What Is Cash Cards?
Ans-Cash card are the plastic cards that will allow you to withdraw money from your bank via an ATM machine but the cardholder to purchase doesn’t purchase anything directly with it.

25.)What Is Credit Cards?
Ans-Credit Cards are the cards provided by the bank to the cardholders,in which can holder withdraw cash from ATM and also purchase goods and services directly from the credit card.

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