1. Why do you want to enter banking?
Banking is one of the fastest growing sectors in India with more stable and high growth and more over providing wide range of career opportunities for graduates. So I want to take an opportunity to join in a bank.
2. Have you applied to any other areas apart from banking?
No.
3. What is the difference between Cheque and Demand Draft?
Both are used for transfer the amount b/w two accounts of same or different Bank. Cheque is written by an individual and withdrawn from the account whereas Demand draft is issued by a bank where you have to pay before issuing.
4. What are NBFCs and difference between NBFCs and Bank?
Non-bank financial companies (NBFCs) are financial institutions that provide banking services, but do not hold a banking license. NBFCs do offer all sorts of banking services, such as loans and credit facilities, retirement planning, money markets, underwriting, and merger activities. These institutions are not allowed to take deposits from the public.
5. What is Free Market economy?
A market economy based on supply and demand with little or no government control is said to be free market economy.
6. What are the functions of Nabard?
National Bank for Agriculture and Rural Development(NABARD) is one of the premiere agency to provide credit in rural areas. It provides credit flow for the development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts.
7. Is there any specialized company for home finance in India?
National Housing Bank(NHB)
8. Do you think that you are over qualified for this position?
No, I don’t think so, but I am very well qualified for this position.
9. 2 years down the line if you would be offered 50k or 70k by other organization, Will you leave this organizations? If not why?
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10. What is National Electronic Fund Transfer system (NEFT)? What is the difference between RTGS and NEFT?
National Electronic Fund Transfer (NEFT) is an online system for transferring funds of Indian financial institution (especially banks). This facility is used mainly to transfer funds below Rs. 1,00,000. The Reserve Bank of India has instructed banks that they should not use RTGS for amounts below Rs 1 lakh.
The key difference between RTGS and NEFT is that while RTGS is on gross settlement basis, NEFT is on net settlement basis. The minimum transaction value for RTGS is Rs. 1,00,000, whereas there is no minimum value for NEFT.
11. What is Private Banking?
Banking services offered to high net-worth individuals. Private banking institution assists the high net-worth individual in investing his/her money in exchange for commissions and fees. The term "private" refers to the customer service being rendered on a more personal basis.
12. What is an Investment Bank and Commercial Bank and what is the difference between them?
Investment Bank: A financial institution that deals primarily with raising capital, corporate mergers and acquisitions, and securities trades. It aids companies in acquiring funds.
Commercial Bank: An institution which accepts deposits, makes business loans, and offers related services. Commercial banks also allow for a variety of deposit accounts, such as checking, savings, and time deposit. These institutions are run to make a profit and owned by a group of individuals.
A Commercial bank is commonly referred to as simply a bank. The term ‘Commercial’ is used to distinguish it from an investment bank. The term ‘Commercial’ is used to refer to any banking organization or division that deals with the deposits and loans of business organizations.
Traditionally, banks either engaged in commercial banking or investment banking. In commercial banking, the institution collects deposits from clients and gives direct loans to businesses and individuals.
Through investment banking, an institution generates funds in two different ways. They may draw on public funds through the capital market by selling stock in their company, and they may also seek out venture capital or private equity in exchange for a stake in their company.
Examples of Investment Banks: Bank of America, J P Morgan Chase, Citigroup.
Note: Give your best possible answer for the question 9.
6 comments:
Hii Varun... Well I am a Bank PO aspirant and just followed ur blog from the starting of my preparation.. it seems to be such a beneficial thing that despite buzy schedule.. I always find to browse ur blog.. Ur work on the Interview and GK thing is commendable..
Varun... The Question 9 is really difficult to answer ... well One can say,"I will serve you till so and so period and then only leave the organization."
I have one question that is very frequent in the interviews i.e.
"Why you want to join the Banking Sector as you are an Electronics Graduate and have been doing job for the past 1.5 yr?"
Kindly give ur views on this question!!
according to me the ans of question 9 can be "I will consider the organization by the reputation of the company and the opportunity to grow with that organization not by mere amount of money offered by them. So if my current company is better in these two parameters and if I am satisfied with my present job then I won't left my present organization as money is not that important at this stage of my career."
Hi Varun,
I have to give interview next week. I want to know what are the topics related to General awareness which i should prepare from interview point of view.
Thanks
Hi Varun,
In interview if they ask me 'tell me something bout Indian Economy" then what are the points i have to cover under that.
Thanks
Ajay:
A lot is there to tell about Indian Economy....!!
For example You can say that
"The economy of India is the twelfth largest economy in the world and the fourth largest by purchasing power parity (PPP). India is the second fastest growing economies in the world."
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