IBPS CLERK INTERVIEW PRACTICE -12 : RELATED TO BANKING

1 .What is Subsidy?

A subsidy is a form of financial assistance paid to a business or economic sector. Most subsidies

are made by the government to producers or distributors in an industry to prevent the decline of

that industry or an increase in the prices of its products or to encourage it to hire more labor.

2 What is Open Market operations(OMO)?

The buying and selling of government securities in the open market in order to expand or

contract the amount of money in the banking system by RBI. Open market operations are the

principal tools of monetary policy.

3. What is Micro Credit?

It is a term used to extend small loans to very poor people for self-employment projects that

generate income, allowing them to care for themselves and their families.

4. What is Liquidity Adjustment Facility(LAF)?

A tool used in monetary policy that allows banks to borrow money through repurchase

agreements. This arrangement allows banks to respond to liquidity pressures and is used by

governments to assure basic stability in the financial markets.

 5.What is RTGS System?

The acronym ‘RTGS’ stands for Real Time Gross Settlement. RTGS system is a funds transfer

mechanism where transfer of money takes place from one bank to another on a ‘real time’ and on

‘gross’ basis. This is the fastest possible money transfer system through the banking channel.

Settlement in ‘real time’ means payment transaction is not subjected to any waiting period. The

transactions are settled as soon as they are processed. ‘Gross settlement’ means the transaction is

settled on one to one basis without bunching with any other transaction.

6.What is Wholesale Price Index(WPI)?

The Wholesale Price Index (WPI) is the index used to measure the changes in the average price

level of goods traded in wholesale market. A total of 435 commodity prices make up the index. It

is available on a weekly basis. It is generally taken as an indicator of the inflation rate in the

Indian economy. The Indian Wholesale Price Index (WPI) was first published in 1902, and was

used by policy makers until it was replaced by the Producer Price Index (PPI) in 1978.

7. What is Consumer price Index(CPI)?

It is a measure estimating the average price of consumer goods and services purchased by

households.

IBPS CLERK INTERVIEW PRACTICE -11 : RELATED TO BANKING

Q:What is the main use of SLR?

SLR is used to control inflation and propel growth. Through SLR rate tuning the money supply in the system can be controlled efficiently

Q:What is a Bank rate ?

The interest rate charged by a central bank to commercial banks for very short term loans.

Q:What is Balance on current account ?

A country's receipts minus payments for current account transactions. Equals the balance of trade plus net inflows of transfer payments

Q:What is Balance of Payments?

A list, or accounting, of all of a country's international transactions for a given time period, usually one year. Payments into the country (receipts) are entered as positive numbers, called credits; payments out of the country (payments) are entered as negative numbers called debits. A single number summarizing all of a country's international transactions: the balance of payments surplus

IBPS CLERK INTERVIEW PRACTICE -10 : RELATED TO BANKING

Q:Monetary Policy ?

The actions taken by Reserve Bank of India, which is the monetary authority, to control the economy is collectively called Monetary Policy. Time to time RBI makes changes in the various rates like CRR, Repo Rate, Reverse Repo Rate, SLR etc. to maintain the supply of money that is liquidity in the system.

Q:Custom Duty ?

The custom duty in India is regulated by Customs Act of 1962. This duty is imposed on the imported and exported goods in the country. This duty is one of the most important duty because it hampers illegal import and export of goods

Q:Excise Duty ?

According to Central Excise act 1944 and the Central Excise Tariff Act 1985, every manufacturer of the goods in the country has to pay Excise duty. Most of the products attract 16% excise duty But in case of some products it more than that.

Q:What is Service Tax?

Service tax is tax paid on the services provided in the country. According to Finance Act 1994, all service provider of the country except in the Jammu and Kashmir have to pay service tax. This tax comes under Indirect Tax. Currently 10% tax is surcharged as service tax.

Q:Direct Taxes ?

As the name suggests Direct tax means the tax which is directly paid to the government by individuals and the companies.

Ex: Corporate Tax, Personal Income Tax, Securities Transaction Tax, Banking Cash Transaction Tax, and the Fringe Benefit Tax

Q:Indirect Taxes ?

As the name suggests Indirect Taxes are those taxes which are paid indirectly to government by the individuals or the companies.

Ex: Sales Tax, Service Tax, Custom and Excise Duties, VAT and Anti-Dumping Duties

IBPS CLERK INTERVIEW PRACTICE -7 : RELATED TO BANKING

Q. What do you mean by Capital adequacy ratio?

CRAR is the acronym for capital to risk weighted assets ratio, a standard metric to measure balance sheet strength of banks.

BASEL I and BASEL II are global capital adequacy rules that prescribe a minimum amount of capital a bank has to hold given the size of its risk weighted assets. The old rules mandate banks to back every Rs. 100 of commercial loans with Rs. 9 of capital irrespective of the nature of these loans. The new rules suggest the amount of capital needed depends on the credit rating of the customer.

Q: What are Banking Codes and Standards Board of India BCSBI?

BCSBI is an independent and autonomous body set up by RBI to ensure that comprehensive code of conduct for fair treatment of customers was evolved and adhered to. In substance the board has been set up to ensure that the common consumer of banking services is in no way in a disadvantageous position and really gets what he has been promised by the banks.

Member banks of the board have voluntarily agreed to abide by the provisions enumerated in the codes which have been drawn up for the benefit of customers. These are:

Code of Bank’s Commitment to Customers, and

Code of Bank’s Commitment to Micro and Small Enterprises.

Q. Who is a Banking Ombudsman?

An independent dispute resolution authority provided by RBI to deal with disputes that bank customers have with their respective banks. The authority is to be approached after the customer fails to get his grievance resolved from the concerned bank in terms of the grievance redressal mechanism.

Q. What is meant by nomination facility for bank accounts?

Nomination in bank accounts prevents harassment and facilitates the bank to make payment to the nominee of a deceased depositor, of the amount standing to the credit of the depositor without the need for producing succession certificate and completion of other legal formalities as required to determine the legal heirs.

IBPS CLERK INTERVIEW PRACTICE -6 : Interview Questions for Banking

Interview Questions for Banking

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 banks2
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. Subba
Rao”.
Its functions:
1. Issues currency notes
2. Acts as bankers bank
3. Maintains foreign exchange reserves
4. Maintains CRR and SLR3
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 dist 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 percent. Any individual can open SB a/c. An
Indian residing at abroad can open a NRI a/c. NRI represents non-resident Indians.  4
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 installments.
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.

18. What is At Par cheque?
Ans. It is payable anywhere in India.

19. What is Multi city cheque?
Ans. A cheque which is payable in any branch of a particular bank.

20. What is Repo rate?
Ans. The rate at which RBI lends money to other banks.5
Present repo rate 7.25 percentage.

21. What is Reverse Repo rate?
Ans. The rate at which RBI pays interest to the banks.
Present Reverse Repo rate 6.25 percentage.

22.  Which bank is called as Central bank?
Ans. RBI is also called as Central bank.

23. What is Internet banking?
Ans. Banking through internet.

24. What is Inflation?
Ans. It is a state where money looses the value hence prices will go up (or) Decreasing the value
of money.

25. What is Deflation?
Ans. It is opposite to inflation. Money will have more value. Here the products looses the value.

26. What is Debit  cum ATM card?
Ans. The customer can deposit and withdraw cash by means of magnetic ATM card.

27. What is ATM?
Ans. Automatic Teller Machine.

28. What is PLR and BPLR?
Ans.  PLR - Prime Lending Rate.
BPLR - Basic Prime Lending Rate.

29. What is Credit card?
Ans. 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.6

30. What is an NRI a/c?
Ans. 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.

31. What is CRR and SLR?
Ans. 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.

32.  What is RTGS and NEFT?
Ans. RTGS: Real Time Gross Settlement.
NEFT: National Electronic Fund Transfer.
These two are the two methods through which funds can be transferred from one bank to
another bank.

33. What is NPA?
Ans. NPA: Non Performing Asset: When a loan becomes bad then it becomes NPA.

34. What is online banking?
Ans. Nothing but any where banking. A customer can operate his account from any branch of a
particular bank.

“Know about the bank for which you are attending the interview”

Some general questions:
1. Why do you choose banking as your career?
2. Are you ready to work in rural place?
3. What are your strengths and weaknesses?
4. Ten years down the line where would you see yourself?
5. Do you read news paper? What is today’s news?
6. Why should we give this job to you?

IBPS CLERK INTERVIEW PRACTICE -5

Q:WHAT ARE YOUR GREATEST STRENGTHS AND WEAKNESSES ?

ANS-my strengths are my adjustng nature to situations. be it difficult or easy. adjust myself to situations around me. another strength is keeping my self calm, dedication to my work is another strength....weaknesses are relationships, as i do care forall the people around me and can t see them in trouble or tears which at times led me to trouble, another weakness is that i want to see everythng around me in perfect order and in time whether be it at home or in office

(OR)

Well i would say my strengths are i am good listner, very quick learner and can do different work/tasks with very little training.

Like strenghts, i have few weaknesses too, Sometimes recheck my work twice after it is done, it takes little bit more time than what i usually take. But i make sure that that particular work should finish before the deadline.

Q:WHAT SIGNIFICANT TRENDS DO YOU SEE IN FUTURE FOR BANKING SECTOR ?

ANS- Banks will remain the most prominent growing sector and some major trends we can see are Door Step banking facilities, Lower NPA Rate, With Aadhar Card coming it will help identify the defaulters and money will not flow in bad hands, Atleast 2 Banks in Rural areas and Phone banking facility.

Q : What are your hobbies and passions, how have they helped you in making a change in your life and tell me difference between liking, hobbies, passion.?

ANS-my hobby is to make new frnds and my passion is to get a higher position in bank ....as all policies of banks are made keeping customer welfare in mind so for this a good my hobby ie to make frnds is helpful coz one who makes frnds easily can communicate and understand the plight of customer easily and formulate policies accordingly which will lead to fulfillment of my passion ........ coming to the difference between liking , hobby, and passion........liking is what we always want to do , hobby is what without which our identity is incomplete and passion is what for which we are living and doing things

Q:WHAT MAKES YOU ANGRY?"

ANS-Well, as a human it is natural to get angry.. But what is important is not to show in face and not letting it to affect our work and attitude. However I won't get anger usually except at times when people behave irresponsible towards the work. But I have my own way of coming out of it. I would like to discuss rather than argue with someone and find a way to let him/her realize his/her responsibilities . Also I am an open minded person and I welcome suggestions from all side and always try to correct my mistakes.

(OR)

There is nothing in particular that makes me angry. It all depends on the scenario and the circumstances of the event. I have hardly ever been angry. But once when my mother got hurt in an accident I was angry because the person instead of being sorry, accused my mom of feigning her injury!

IBPS CLERK INTERVIEW PRACTICE -4

Q: Shadow Banking ?

A.shadow banking means those financial transactions which are not regulated ..... hence the risk involoved in these are very high..........shadow banking deals in money market instruments......and hence need money for early repayment .......... now what happens is they invest for long term .....and borrow for short term.......so this match creates problem coz of lack of liquidity...........and second thing as they are not regulated so they cant take help from any other organisation like for eg central banks.........the crisis which world faced during was coz of shadow banking also.

Q:HOW WOULD YOU DESCRIBE YOURSELF OR DESCRIBE YOURSELF?"

ANS- I'm a people person. I really enjoy meeting and working with a lot of different people.

I'm a perfectionist. I pay attention to all the details, and like to be sure that everything is just right.

I'm a creative thinker. I like to explore alternative solutions to problems and have an open mind about what will work best.

I'm efficient and highly organized. This enables me to be as productive as possible on the job.

I enjoy solving problems, troubleshooting issues, and coming up with solutions in a timely manner.I would like to describe myself as a one of the helpful person because i like to help anyone at anytime for any kind of useful work. I am also prepare myself for work with honestly and fulfill all requirements without any commitment. I would like to spread my work for I accept new challenges to face. It gives me the inspiration and good experince in my life. So, always i stood as one of the useful employee for your organization

Q: DO YOU CONSIDER YOURSELF SUCCESSFUL?

ANS-success is the progressive realization of a worthy goal.a goal that one aspires for or has set for oneself...being a mgmt graduate i aspire to grow to be managerial and professionally sound person..i believe i shud accomplish this in about 5-10 yrs time..i have acquired the basic qualifications fr dat...im on the verge of accomplishing it nd im sure i'll achieve the goal and become successful.

IBPS CLERK INTERVIEW PRACTICE -3

1.ARE YOU HAPPY TO SIGN BOND WITH US ...... WHAT IF WE GIVE YOU OPTION NOT NO SIGN BOND ..... WHAT WILL YOU DO "

ANS-sir/ madam, signing a bond 4rm Hr point of view is 2 retain employees with the org, so as 2 fight employee turn over rate. n untill I work on a job for about 1or 2 yrs, I will not gain complete knowledge about it. n there is no risk in signing the bond either. Also, there is no point in jumping 4rm 1 job 2 another. must stick with a job 4 sometime atleast 2 gain the relevant knowledge. Hence, if Im given a choice, i'l sign a bond(my choice!!)

2) "If in a rural branch in which you are posted, someone asks you for loan or money on gunpoint what will you do?"

ANS- will not be bogged down by threats and told them to do whatever they wanted but he will not give them single penny. seeing his guts those robbers left and never came back"

3).DO YOU HAVE ANY QUESTIONS FOR ME?

ANS-Thank you very much sir/madam for this golden opportunity. It was wonderful experiance to know all of you.I would like to know the areas you found where I should brush up.......thanks a lot for your feedback. I will definetly improve myself as per your suggestions. I would like to hear from you very soon.

IBPS CLERK INTERVIEW PRACTICE -2

Q: How would you know you were successful on this job?

ANS : Answer tips

Several ways are good measures: You set high standards for yourself and meet them. Your outcomes are a success. Your boss tell you that you are successful.

Answer sample

I m sure that I were successful in the because any job offered in your company is my dream and I can do any thing for my dreams. another way I am like to do this from my heart not for money.

Q: Why do you think you would do well at this job?

ANS :Answers samples

Give several reasons and include skills, experience and interest.

1.     I am a person that learn quickly and perform better under pressure, am a very good team player that motivate others in other to achieve the company’s common goals

2.     Will do well in this job because I already have previous experience in the similar field. so I will use my previous experience in this job and I am interested in learning new things and enhance my skills.

3.     I believe I will do well in this job because I have the relevant skills and experience. I also have the drive, interest and determination to make a real success of this role.

Q: What motivates you to do your best on the job?

Answer tips

This is a personal trait that only you can say, but good examples are: Challenge, Achievement, Recognition

For any person motivation is the main factor which should make him work in an efficient manner.

And that motivation could be done my some rewards for doing good job, some encouragements etc. Moreover an employees good work must be acknowledged by his employer, which would definately boost him to work more harder to get more acknowledgements.

Answer samples

1. I was motivated both by the challenge of finishing the projects on time and by managing the teams that achieved our goals.

2. I want to be successful in my job, both for my own personal satisfaction and for my employer.

3. I’ve always felt that it’s important, both to me personally, and for the company and the clients, to provide a positive customer experience.

‎5.31 Lakh Candidates Pass Bank Clerical Exam

Business Line

MUMBAI, FEB 29:

About 5.31-lakh candidates have passed the first common written examination for clerical posts in public sector banks. About 1.21 lakh candidates of the successful candidates belonged to the SC/ST category. The exam was conducted by the Institute of Banking Personnel Selection, Mumbai.

Mr M. Balachandran, Director, IBPS, said that roughly one in six candidates had qualified in the exam. There were 43.14 lakh candidates who had registered for the exam, but about 30.54 lakh persons appeared for it.

The results of successful candidates will be available on the IBPS Web site from 1.30 p.m. onwards.
Successful candidates

Giving further details, Mr Balachandran said there were 1.72 lakh successful candidates from the general category and 2.37 lakh successful candidates belonging to the OBC category.

He said the list of successful candidates would be available next week on the IBPS website. A week from now, candidates will be able to log on and check their individual scores. And after a fortnight, unsuccessful candidates will be able to see their marks.
The access is being staggered to make it possible for the website to handle the expected load on the system, since over 30 lakh candidates wrote the exam.
Mr Balachandran said that the despatch of scorecards by ‘speed post’ to all successful candidates will begin tomorrow and will be done over the next four days. Candidates will also be sent a tracking number by e-mail or SMS to enable them to track their scorecard.

The successful candidates (about 5.31 lakh) are expected to compete for about 20,000 clerical vacancies across public sector banks. Banks are expected to come out with their recruitment advertisements within the next three weeks.

How to Prepare ibps clerical Interview ?

Hello, Guys Ibps Results Released...Congratulations For All Selected in Written Test...
Best of Luck In Interview Also...
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IBPS CLERK INTERVIEW PRACTICE -1

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IBPS CLERK INTERVIEW PRACTICE