{Interview} Topper's Experience-Bank: Anonymous

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 Cheque is written by an individual and withdrawn from the account whereas Demand draft is issued by a bank where you have to pay before issuing.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.

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{Interview} Topper's Experience-Bank: Alfred & Karun Dhamija

Name: Alfred

Graduation: Civil Engineering

Interview Experience: Corporation Bank PO

Date: 28-06-10

• Tell me something about yourself apart from the details given in the Bio-Data?
• Why do you want to join bank?
• What is Banking? How is it different from Saving Bank of Post Office?
• Difference between Karnataka and Jharkhand Economy? (as I am from Jharkhand)
• Today’s Headlines?
• Similarity between USA and India in-terms of Economy?
• How many bank exams have you appeared for?
• Do you know the costing of Civil Engineering?
• What are your hobbies?
• What is NEFT?
• What is the difference between million and a billion?
• What is the buzzing word of India’s economy?
• What action is the RBI taking? What is the final impact on the Economy?

Name: Karun Dhamija

Graduation: Chemical Engineering

Interview Experience: Corporation Bank PO

• You have done Chemical Engg and worked in RIL, then why do you want to join a bank?
• What do you know about Corporation Bank?
• What are the functions of RBI?
• Do you have any account in any bank?
• Which type of account and what is the interest rate payable on it?
• What is the difference between Savings account and Current Account?
• What are your strengths and weaknesses?
• What is a debit card and what all can be done with it?
• What is your family background?
• Are you willing to work anywhere in India?

Name: Karun Dhamija

Graduation: Chemical Engineering

Interview Experience: Allahabad Bank PO 

• Tell me something about yourself?
• Why do you want to join a bank as you are a chemical engineer and worked in 2 good companies?
• If in a rural branch in which you are posted, someone asks you for loan or money on gunpoint what will you do?
• What is a Bank?
• What are various activities and functions in a bank?
• What is Distillation?
• What is Coal Tar?
• Your Hobby is reading Bhagavad gita. What do you read in it?
• Cite some slokas from Bhagvad Gita?
• How can you say that banking sector is fast growing?

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{Interview} Topper's Experience-Bank: Akash

Name: Akash

Graduation: B-tech in Computer Science in 2008.

Interview Experience: Central Bank of India

Why banking?

I am interested in banking and my father is also a banker.

In which bank your father will work?

He works in State bank of India as a clerk in Hyderabad.

If you are interested in Banking, then why you have done B-tech? and what you have done after the completion of your graduation?

Actually I had a plan to do MBA after my graduation, but due to financial problems I can’t do it, so i postponed to do my MBA until I get a job. In the mean time I have been preparing for banks.

How many banks have you appeared so far?

So far I have written five exams in that I cleared two exams one is this bank & another is Canara Bank and I didn’t cleared the interview round in Canara Bank.

What do you think the reason behind for not clearing the interview round (Canara Bank)?

I didn’t prepare well at that time.

Where is the Headquarters of this bank?

Mumbai.

What is recession? What is the cause for the present recession?

It can be defined as if country’s GDP growth is negative for two or more consecutive years and the main cause for the present recession is Sub-Prime crisis where it started in US.

What is Sub-prime crisis?

The current Subprime crisis is due to sub-prime lending. These are the loans given to the people having low credit rating.

Why India is affected? Which sectors are affected?

Bcoz many of the Indian companies have major outsourcing deal from the US and moreover India is one of the largest exporter to US. Almost all sectors are affected majorly Industrial, Real estate and IT sectors.

Why Indian Banks are much not affected?

Why bcoz RBI has adjusted some key rates like CRR, Repo rate, bank rate (that in turn decreases interest rates that in turn increase money supply and that in turn increase Investment) and also Indian’s bank are less interested in giving sub-prime loans.

What is CRR?

It is defined as the Cash Reserve Ration. It is the amount of funds that the banks have to keep with RBI.

How much amount that banks have to keep with RBI?

Five percent of the total amount.

What is Social Banking?

It is a banking process that caters specially to the development needs of the poor in sharp contrast with conventional commercial banking, which has marginalized the poor.

What is Federal Reserve?

It is the Central Bank of US like what we have RBI in our country.

Where you will be in five years from now if you are selected?

In the same bank with one or two promotions.

{Interview} Topper's Experience-Bank: Madhav Joshi

Interview Experiences of Mr. Madhav Joshi:

Please find below my interview experience at Union Bank of India. I hope it will help bank PO aspirants in some ways.

My Education: BE + MBA

Present Job: Currently working as a PO in an SBI sponsored RRB.

Interview location: Mumbai

First thing to be noted is that UBI people were in haste to wind up all interviews. Most of the interviews held before mine hardly lasted for more than 5 minutes. In few cases, they merely asked candidates 'tell me about yourself' and after getting answer, replied, "OK you may go now."

My turn was at 12 pm and I reached the venue at 11:20 am. Document verification process went on for few minutes and my turn came around 12:15 pm.

I entered the room, there were three members. (1 of them was an IAS officer, as per other candidates)

{Interview} Topper's Experience-Bank: Himanshu Kumar

Name- Himanshu Kumar
Qualification- MBA-IB from Amity University, Noida
IBPS CWE Score- 173
Category- General
Total Interviews- Union Bank, SBI Associate, Syndicate Bank, Bank of India, Allahabad Bank, UCO Bank
Final Selection- State Bank of Mysore (SBI Associate)
Strategy for Learning- I have started preparation for Bank PO with my friend. We both studied together as i think Group Study is best. This came fruitful as my friend selected already as PO in Bank of Baroda in Zonal Office, New Delhi. We have focused each subject individually. I was weak in English and GK was nightmare for her. We help each other and now we both are PO in Public Sector banks. We have used “Economic Times” and “Pratiyogita Darpan” for GK and “Objective General English, by R S Aggarwal” for English.
We have used “Economic Times” and “Pratiyogita Darpan” for GK and “Objective General English, by R S Aggarwal” for English. I would also used to say that PRACTICE 1 SET of PO daily is very necessary.

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