3. Banking Interview Questions & Answers

Q 31.   What is GNP?

Ans.   Gross National Product (GNP) is measured as GDP plus income of residents from investments made abroad minus income earned by foreigners in domestic market.


Q 32.   What is Revenue deficit?

Ans.   Where the net amount received by the govt. (from taxes & other forms) is lesser than the predicted amount, the shortfall amount is called Revenue Deficit


Q 33.   What is Fiscal Deficit?

Ans.   It is the difference between the government’s total receipts (excluding borrowings) and total expenditure.


Q 34.   What is Disinvestment?

Ans.   Selling of the government stake in public sector undertakings, called disinvestment.


Q 35.   What is National Income?

Ans.   National Income is the money value of all goods and services produced in a country during the year.


Q 36. What is IPO?

Ans.   IPO: – Initial Public Offering. This is the first offering of shares to the general public by a company who wishes to enlist itself on the stock exchange


Q 37.   What is Recession?

Ans.   When GDP (as Domestic Product) growth is negative for a period of two or more consecutive quarters.


Q 38.   What causes Sub-prime crisis?

Ans.   The Sub-prime crisis occurs when the too many loans are given to customers with low credit retain.


Q 39.   What is Dematerlization?

Ans.   Dematerialisation is a process by which the paper certificates of an investor are taken back by the company/registrar and an equivalent security is credited in the electronic holdings of that investor


Q 40.   What is PM Jan Dhan Yojna?

Ans.   PMJDY is a scheme for financial inclusion launched by the PM Narendra Modi on 28 August 2014. The scheme was first announced on his first Independence Day speech on 15 August 2014. In this scheme bank accounts will be open with zero balance with the issuance of RuPay debit card.


Q 41.   What is Pradhan Mantri Suraksha Bima Yojana?

Ans.   Premium: Rs. 12/- per year.

Payment Mode: The premium will be directly auto-debited by the bank from the subscribers account. This is the only mode available

2 Lakh Claim: Death/ Total and irrecoverable loss of both eyes or loss of use of both hands or legs or loss of sight of one eye and loss of use of one hand or one foot.

1 Lakh Claim: Total and irrecoverable loss of sight of one eye or loss of use of one hand or one foot.


Q 42. What is Pradhan Mantri Jeevan Joyoti Bima?

Ans.   Premium: Rs. 330/- per year.

Payment Mode: The premium will be directly auto-debited by the bank from the subscribers account. This is the only mode available

Risk Coverage: Sum of Rs. 2 Lakh on death of the Insured member for any reason is payable to the Nominee


Q 43. What is a DeMat Account?

Ans.    DeMat is nothing but dematerialized account. DeMat account is similar to bank account where one’s can buy or sell stocks (shares). In order to open a DeMat account, one needs to approach the Depository Participants (DP). The advantage of DeMat account one does not need any physical evidence for trading of shares. All things are taken care of by the Depository Participants (DP).

As per SEBI guidelines, physically only 500 shares can be traded from April 2006. It has become compulsory to have PAN for any person who opening a DeMat account.


Q 44.   What are Small and Payment Banks?

Ans.   The main purpose of the small banks is to provide basic banking products such as bank deposits and credit, but in a limited area of operation.

The main objective of Payment banks is to increase financial inclusion by providing small saving accounts. A maximum of Rs. 1 lakh can be deposit in such banks.


Q 45.   What is RuPay Card?

Ans.   RuPay is a domestic card payment network set up by National Payments Corporation of India (NPCI). The initial focus of NPCI is to approach to those banks who have not issuing any card i.e. Regional Rural Banks and urban co-operative banks. The Govt of India launched the RuPay Card to compete with Vida and Master card and also to provide an Indian payment Gateway.


Facebook Comments