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 Bank Interview Questions

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Q:

What is overdraft protection?

Answer

Overdraft protection is a service that is provided by a bank to their customer. For instance, if you are holding two accounts, saving and credit account, in the same bank. Now if one of your accounts does not have enough cash to process the cheques, or to cover the purchases. The bank will transfer money from one account to another account, which does not have cash so to prevent check return or to clear your shopping or electricity bills.

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Subject: Bank Interview - Accounting and Finance

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Q:

RBI controls the commercial banks through

A) Calling for returns and other information B) Periodic inspection of banks
C) Follow up action D) All of the above
 
Answer & Explanation Answer: D) All of the above

Explanation:
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Filed Under: Bank Interview - Accounting and Finance
Exam Prep: Bank Exams , CAT
Job Role: Bank Clerk , Bank PO

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Q:

A check returned by the bank marked nsf means

A) Cheque has been forged B) Cheque can't be cashed being illegal
C) There are not sufficient funds in your accoun D) Bank can't verify your identity
 
Answer & Explanation Answer: C) There are not sufficient funds in your accoun

Explanation:

NSF means - Not Sufficient Funds.

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Filed Under: Bank Interview - Accounting and Finance
Exam Prep: AIEEE , Bank Exams , CAT , GATE
Job Role: Analyst , Bank Clerk , Bank PO

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Q:

What is SLR rate?

Answer

SLR Rate is the minimum amount or percentage of the deposits that a bank has to keep with the RBI in the form of money,gold or any other approved security. In simple terms it is the ratio between cash and some approved security.

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Subject: Bank Interview - Accounting and Finance

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Q:

Which small finance Bank is included in the second schedule of the Reserve Bank of India Act, 1934 ?

A) Janalakshmi B) Utkarsh
C) Suryoday D) None
 
Answer & Explanation Answer: C) Suryoday

Explanation:
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Filed Under: Bank Interview - Accounting and Finance
Exam Prep: Bank Exams , CAT
Job Role: Bank Clerk , Bank PO

4 3290
Q:

What is Line of credit?

Answer

Line of credit is an agreement or arrangement between the bank and a borrower, to provide a certain amount of loans on borrower’s demand. The borrower can withdraw the amount at any moment of time and pay the interest only on the amount withdrawn. For example, if you have $5000 line of credit, you can withdraw the full amount or any amount less than $5000 (say $2000) and only pay the interest for the amount withdrawn (in this case $2000).

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Subject: Bank Interview - Accounting and Finance

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Q:

Which Bank has obtained RBI approval to open representative offices in Kuwait and Singapore?

A) SBI B) Federal Bank
C) HDFC D) ICICI
 
Answer & Explanation Answer: B) Federal Bank

Explanation:

Federal Bank has obtained RBI approval to open representative offices at Kuwait and Singapore.

The bank has been the preferred banker for NRI's and the NRI friendly measures have resulted in increasing inflow of foreign remittances.

The bank already has its representative offices in Abu Dhabi and Dubai and it has tied up with 110+ overseas banks/remittance partners.

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Filed Under: Bank Interview - Accounting and Finance
Exam Prep: Bank Exams , CAT
Job Role: Bank Clerk , Bank PO

6 3248
Q:

What is the minimum period of time for which one can open an FD(Fixed Deposit) account ? 

A) 15 days B) 6 months
C) 7 days D) 1 year
 
Answer & Explanation Answer: C) 7 days

Explanation:
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Filed Under: Bank Interview - Accounting and Finance
Exam Prep: Bank Exams , CAT
Job Role: Bank Clerk , Bank PO

5 3206