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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.
Have you applied to any other areas
apart from banking?
No.
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is written by an individual and withdrawn from the account whereas Demand draft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.
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.
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 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.
Is there any specialized company for
home finance in India?
National
Housing Bank (NHB)
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.
2 years down the line if you would be
offered 50k or 70k by other organization, Will you leave this organizations? If
not why?
Answered
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 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.
Difference: 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.
