LIC ADO GK Paper - 2010

1. Which one of the following is not an insurance provider in India?

A)NSDL

2. Whcih one of the following is not a policy provided by LIC?

A)Mahalife Gold Plan

3. The regulatory body for Insurance in India is?

A)IRDA

4. The author of the book “The White Tiger”?

A)Arvind Adigga

5. Who has won the man booker prize?

A)Alice Munro

6. Where was the SAARC summit held in 2010?

A)Bhutan

7. The Indian tennis player who was a part of a team who won a category in Australian Open 2010?

A)Leander Paes

8. Key feature of Union Budget?

A)All of the above

9. LIC is going on paperless from 2011, what does it mean?

A)All activities will be carried out in electronic form.

10. Which is the only Public sector Life insurance provider in India?

A)LIC

11. Who won the Indira Gandi Peace Prize in 2009?

A)Prime Minister of Bangladesh

12. Which one of the following is a term related to cricket?

A)Silly Point

13. Which one of the following is not related to finance or banking?

A)Amnesty

14. The national award given in the field of sports?

A)Arjun Award.

15. Who among the following is not a winner of PadmSree Award?

A)Lalit Modi

16. Who among the following is not a winner of National Film Awards?

A)Shilpa Shetty.

17. What is the meaning if maturity date in policies by LIC?

A)The date on which the contract between the company and the person insured is going to expire.

18. What is the meaning of insurance?

A)Mutal payment contract to cover a particular risk.

19. Rs.16,500 crores has been provide to banks under Union budget 2010-11 for?

A)To strengthen their capital base

20. The term ULIP(recently in news) is associated with?

A)Insurance companies

21. The financial body which frames Monetary and Financial policy in India?

A)RBI

22. The term Micro-finance was in news recently. Which one of the following is a type of Micro-Finance?

A)?(a.LIC   b.Mutual fund investment   c.Letter of credit    d.Mutual help groups)

Note: LIC ADO exam held on 13-06-10. GK paper submitted Seemab Hussain.

SBI Clerk Interview Experience II - 2010

1.      Why you choose bank rather that S/w as you are a B-tech student?

H:  I am interested in a bank that’s why I have chosen and moreover B-tech is just a graduation, to be strong in Computer Knowledge I have chosen it.

2.      What is the reason for Recession?

H:  Though there are many reasons for the recession, sub-prime crisis contributes the major.(Go for Interview Experience –I).

3.      What is Sub-prime crisis?

H:  Giving home loans to the people who don’t have good credit rating.

4.      Which sectors are affected due to recession in India?

H:  Almost all sectors are affected, mostly Real estate and IT sector.

5.      Was Indian Banking got affected due to recession?

H: Affected but it is negligible.

6.      Name some of the financial institutions in India?

H: SBI, NABARD, LIC.

7.      Who and what is important for bank?

H: Customers and Money.

8.      How you will be useful to the bank if you were selected?

H: I am a hard worker as i can complete the work accurately within the time and I have very good knowledge on computers and its applications.

9.      Do you think private banks are a threat to public banks?

H: No I don’t think so, Still India need more banking service to reach out different types of people. We have different types of banks in India, like Rural banks for Rural people , private banks for high net worth individuals and public sector banks for general public.

10. You are over qualified for clerical job? Why do u prefer clerk job? Why not Officer?

H: I have appeared for the Officers, but did not get through. So I decided to join as a clerk and then try for the officer post.

11. What is the meaning of Sbi logo? And what do you know about SBI?

H: Told whatever I known.

About SBI:

State Bank of India(SBI) is the largest bank in India.

The origin of the State Bank of India goes back to the first decade of the nineteenth century with the establishment of the Bank of Calcutta in Calcutta on 2 June 1806. The Bank of Bombay (15 April 1840) and the Bank of Madras (1 July 1843) followed the Bank of Bengal. These three banks remained at the apex of modern banking in India till their amalgamation as the Imperial Bank of India on 27 January 1921. The Government of India nationalized the Imperial Bank of India in 1955.

The State Bank Group having more than 17000 branches. SBI alone holds 12,448 branches. SBI has over 21,000 ATMs.

The bank has 141 overseas offices spread over 32 countries.

Symbol and Logo:

Symbol is the Key Hole, whose meaning is "Welcome to SBI".

Slogans are:

1) The Nation banks on us

2) Pure banking nothing else

3) The Banker to every Indian

4) With you all the way.

State Bank of India has the following six Associate Banks (ABs):

1.      State Bank of Bikaner and Jaipur (SBBJ)

2.      State Bank of Hyderabad (SBH)

3.      State Bank of Indore (SBIr)

4.      State Bank of Mysore (SBM)

5.      State Bank of Patiala (SBP)

6.      State Bank of Travancore (SBT)

The six ABs have a combined network of 4502 branches in India which are fully computerized and 2410 ATMs.

12. How can you find the fake currency note?

H: Don’t know.

Ways to detect a fake note

Optical Variable Ink: The colour of the numeral 1000 appears green when the banknote is held flat but would change to blue when the banknote is held at an angle. The font size is also reduced.

Latent Image: When the note is head horizontally, the vertical band on the right shows an image of the number 1000.

Security Thread: The note also has a three millimeter wide security thread with the inscriptions: one thousand, the word 'Bharat' in Hindi and RBI.

Micro lettering: The 'RBI' and the numeral, "1000" - which can be viewed with the help of a magnifying glass - are between the Mahatma Gandhi portrait and the vertical band.

Watermark: When the note is held against the light, the picture of Gandhi and an electrolyte mark showing the number 1000 appear in the white space.

Note: I Presented the Sbi Clerk Interview experience of Hari Jadhav who appeared on 29-03-10.

Banking Interview Question and Answers 2010

What is Retail Banking?

Banking services for individual customers. Retail banking refers to banking in which banking institutions execute transactions directly with consumers. Services offered include: savings and checking accounts, mortgages, personal loans, debit cards, credit cards, and so forth.

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.

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.

What is Private Equity?

Private equity is money invested in companies that are not publicly traded on a stock exchange. Instead, they normally seek equity stakes (that is partial ownership) in private companies. Venture capital is a specialized subcategory of private equity. Both are high risk, high reward investment approaches.

What is Globalization?

Globalization is a process of interaction and integration among the people, companies, and governments of different nations.

Advantages of Globalization:

i)It can reduce Poverty,

ii) It promotes world peace.

iii)It is allowing access to technology in developing countries and etc.

What is Privatization?

Privatization can also be called denationalization or disinvestment. Privatization refers to of ownership from the government(public sector) to the private business sector either partially or totally.

What is Liberalization?

The process of reducing or removing restrictions on international trade. This may include the reduction or removal of tariffs, abolition or enlargement of import quotas, abolition of multiple exchange rates, and removal of requirements for administrative permits for imports or allocations.

What is Marketization?

It is an economic system based on the principles of the market, including supply, demand, choice and competition.

What is Micro Finance?

Microfinance offers poor people access to basic financial services such as loans, savings, money transfer services and micro insurance. People living in poverty, like everyone else, need a diverse range of financial services to run their businesses, build assets, smooth consumption, and manage risks.

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.

What is Stock Market/ Share market?

A market where securities are bought and sold. Its basic function is to enable public companies, governments and local authorities to raise capital by selling securities to investors.

What is Equity?

Ownership interest in a corporation in the form of stock.

What is Stock?

The capital raised by a corporation through the issue of shares entitling holders to an ownership interest (equity).

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.

What is DICGC?

Deposit Insurance is nothing but the protection of deposit amount invested in banks under the Act of Deposit Insurance and Credit Guarantee Corporation (DICGC). If a bank fails then a limited amount of protection is provided by the government to depositors. All commercial banks, cooperative banks are covered under the Deposit Insurance in India.

What is IRDA?

To protect the interests of the policyholders, to regulate, promote and ensure orderly growth of the insurance industry and for matters connected therewith or incidental thereto. Headquartered in Hyderabad. Hari Narayan is the chairman of IRDA.

What is Balance of Payments?

A balance of payments is a strategy used to analyze the relationship between money that is flowing into a country and money that is going out of that same country. The BOP is divided into three main categories: the current account, the capital account and the financial account.

What is Balance of Trade?

The difference between a country's imports and its exports.

What is Global Warming?

Global warming refers to an average increase in the Earth's temperature, which in turn causes changes in climate. It happens when greenhouse gases (carbon dioxide, water vapor, nitrous oxide, sulphur hexafluoride and methane) trap heat and light from the sun in the earth’s atmosphere, which increases the temperature. 

What is Kyoto Protocol?

It is an international agreement aimed at controlling the greenhouse emissions, mainly Carbon Dioxide.

What is Savings Account?

A savings account typically refers to an account in which one places money to earn a small amount of interest.

What is Debit Card?

A debit card is a plastic card issued by banks to customers. The card allows instant purchase, removing the correct balance from the user’s attached bank account.

What is Credit Card?

A card issued by a financial company giving the holder an option to borrow funds, usually at point of sale.(for more go on to Banking terms page).

SBI Clerical Interview Experience - 2010

I present the Interview experience of a candidate named Balvinder who attended Sbi Associates Clerical interview in 2009 and submitted her interview experience to this blog.

Interviewer: why do u want to join the bank , as u have engineering background your performance is fantastic in every field n u r lecturer in engineering college?

balvinder: I told them that i always wanted to come into banking field after doing mba but due to some financial problems i could not make it. I have always admired my paternal uncle who is in one of the psb employee at a very reputed designation....n as far as my engineering background is concerned so i think i always stand one step ahead den those who r plain graduate as i can handle each n every thing in a smarter way den a plain graduate can do.

Int: Don’t you think that you are overqualified for this post?

bal: Yes i m aware of his fact but to me becoming a part of this organisation will b an honour for me moreover this is my dream bank n this post will act as a first step to get into this organisation.

Int: Don’t you get frustrated if a person with less knowledge and qualification will b your boss/ senior?

bal: Absolutely not because if that person is a part of this organisation and holding a respected designation then definitely he will b having some knowledge ...moreover i will try to learn new things from that person n will try to move ahead in my professional life.

Int: Were do you see yourself after 5 yrs?

bal: Well i c my self at a managerial post (officer) in this organisation itself .

Int: r u mobile?

bal: yes i am .

Int: Do you any problem if u will b posted in a village?

Bal: Absolutely not.

Int: What will u do if an illiterate customer comes to you?

bal: I will first ask his purpose for visiting the bank on that basis will deal with him.

Int: What will u do if he has to open an saving a/c n at that time when you are busy in your work?

bal: I will keep aside my work as every customer comes with a purpose. I will attend him , will fill up his form and will complete all the formalities as he can help us in increasing our business.

Int: As you have written in your bio-data form that you won soo many prizes in quiz competition, so tell me tha news channels u watch?

bal: I told him few news channels (all were hindi).

Int: Don’t you watch English Channel?

bal: I said i do,

Int: He asked me to name them?

bal: i told him few channels like cnbc 18, cnbc awaaz,  zee business, etc.

Int: lastly they asked me to define bank?

bal: It is a financial institution which facilitates to make deposits, provided loans for education, agriculture, and may other things.

SBI PO GK Paper 2010

SBI Gk, Computer and Marketing paper which is held on 18-04-2010.

1.      SME – Small and Medium Enterprises.

2.      NBFC – Non Banking and Financial Company.

3.      Who won the Davis cup – Spain.

4.      SDR is a reserve asset of – IMF.

5.      Foreign exchanges are done in – US Dollars.

6.      Home loans are given to – Individuals.

7.      SME loans are given to – ALL Small Scale Industries(SSI)

8.      Chairman of 13^th Finance Commission – Vijay kelkar.

9.      Who has directed to stock exchanges ….. – SEBI.

10. India has how many WPI, CPI – 4 CPI and one WPI.

11. CNN IBN Indian of the year 2009 – A R Rehman.

12. Which of the following is a NBFC – Reliance Capital.

13. To which country EU has decided to give Bailout – Greece.

14. 48,000 crore are allocated to which scheme – Bharat Nirman.

15. Miss World 2009 Kaiane Aldorino of which country – Gibraltar.

16. Small cars are famous in which country other than India – Thailand.

17. Joint winner of C K Nayudu Trophy 2009 – Tamilnadu and Gujarat.

18. Which minister actively participated in 3G Spectrum – Ministry of Communication and Information technology.

19. US – North Korea relation is worry due to – Nuclear programme of North Korea.

20. Recently government has decided to divest 20% in Hindustan……what it actually means? – Sell 20% of stake in Hindustan….!

21. SEBI made mandatory for `Qualified Institutional Buyers’ (QIBs) to put in 100 per cent of the application money towards subscription of shares, previously it was – 10%.

22. China Yuan Policy - ?

23. Capital account convertibility is helpful for - ?

24. Question on Summit - ?

25. 16,500 crores are infused in Psb, question on Union budget.?

Computer and Marketing Q’s:

·        Question on Database Management Administrator(Dba)?

·        In Client/Server, what client performs?

·        Question on Intranet?

·        Question on Customer Relationship Management(CRM)?

·        Question on 7p’s of Marketing?

·        Question on Gateway?

·        Question on Cross Selling?

·        Surname is filed in – Text field.

·        Question on Ocean Strategy?

·        Question on Data mining?

·        Question on IP address?

·        Questions on Information System?

·        Question on Microsoft Power Presentation?

Note: Questions are inaccurate. If you know more post in a comment box. Thanks for Neha, Narendra, Prasad, etc for contributing.

Bank PO Interview Experience II - 2010

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.