1. What are various investments under section 80(c) of income tax
act?
Answer:
o
Fixed deposit (5 years)
o
PPF
o
Equity mutual funds
o
ELSS
o
EPF and VPF
o
NSCs (National Saving Certificate)
o
ULIPs
o
NPS (Pension plans)
o
Life insurance
2. What is monetary policy?
Answer:
Policy by
which a central authority attempts to control liquidity and interest aimed high
growth rate and price stability.
3. What is gdp?
Answer:
Gross
Domestic Product is the sum of all the goods and services produced within
physical borders of a country in within a specific period.
4. What is gnp?
Answer:
GNP = GDP
+ Income of residents overseas income of foreigners within the borders of
domestic economy.
5. What is swift?
Answer:
Financial
messaging network, which exchanges messages between banks and financial
institutions.
6. What is a demat account?
Answer:
Demat account
is the process of converting the physical share certificates into equivalent
number of electronic holdings.
7. What is fiscal deficit?
Answer:
Fiscal
deficit is an excess of government expenditure over revenue.
8. What is fiscal policy?
Answer: Government revenue generation and spending
policies that influence the macro economy.
Answer:
o
Lockers
o
Safe custody of funds
o
Advancing loans
o
Fund transfers
o
Periodic payments
o
Underwriting of shares
o
Dealing in foreign exchange
o
Discounting of loans
o
Overdraft
10. What is a put option?
Answer:
Put
option is an option, which gives right to the Option Holder to sell a certain
stock at specified time and specified date.
11. What is a call option?
Answer:
Call
option is an option, which gives right to the Option Holder to buy a certain
stock at specified time and specified date.
12. What are derivatives?
Answer:
In Derivative,
market the value of the instruments bought and sold is based on value of the
underlying asset. The value of the instrument is 'derived' from the value of
the underlying asset and hence it is known as Derivatives.
13. What is an option in
derivative market?
Answer:
An Option
give right to Option Holder to buy or sell a commodity during a certain period
of time or on a specific date.
14. List some features of Pff?
Answer:
Features:
o
Number of deposits per year - 1 to 12
o
Minimum deposit - Rs 500
o
Interest received is tax free
o
Investment is exempted under section 80(c)
15. What is irda and what are its functions?
Answer:
Insurance
Regulatory and Development Authority (IRDA) is the sole authority to regulate
the insurance industry in India, to ensure the growth of insurance industry and
protect the interest of policyholders.
16. What are various functions of rbi?
Answer:
o
Government's banker and performs banking functions for the central
and the state governments.
o
Bankers of banks
o
Maintain liquidity in the economy
o
Regulator of country's financial system
o
Regulates and facilitates foreign trade advisor to the Government
of India
o
Issue currency notes.
17. What was the purpose of setting up nabard?
Answer:
NABARD is
the apex institution for the development of farm sector, cottage industries and
small-scale industries in rural areas.
18. What are npas?
Answer:
NPA
stands for Non-Performing Assets. Bank gives loans and advances to it is
customers. These loans and advances are bank's assets. When the customers do
not repay back the bank's money, they do not perform. Such assets are known as
Non-Permoerming Assets.
19. What is ppf?
Answer:
Public
Provident Fund is a tax saving investment for individuals.
20. What personal characteristics should a bank clerk possess?
Answer:
Besides
being presentable in both appearance and demeanor, a bank clerk must be
responsible, a quick and efficient worker, and committed to flawless
performance. Clients are easily annoyed by mistakes when it comes to their bank
accounts and money transactions.
21. What is cp?
Answer:
Commercial
paper is a short-term unsecured debt instrument.
22.What is Sensex and how it is calculated?
Answer:
Sensex is
the index of top 30 stocks in Stock Exchange (SE). Value of Sensex is
calculated using "Free Float Market Capitalization" method.
Free
float ratio is number of outstanding shares available for public to trade.
23. What are open market operations?
Answer:
Buying
and selling of government securities and bonds in open market by Government to
maintain desired liquidity levels.
24. What is bank rate?
Answer:
Rate at
which RBI lends money to commercial banks without any security.
25. What is slr?
Answer:
Statutory
Liquidity Ratio is the percentage of liabilities and time deposits that
commercial banks need to keep with them in form of Cash, Gold or Government
approved securities.
26. What is crr?
Answer:
Cash Reserve
Ratio is percentage of customer's deposits with commercial banks that they need
to deposit with RBI.
27. Why are you not working anywhere from past 6 months?
Answer:
As
competition in banking exams in fierce, I was preparing for bank exams and a
job could distract me from my mission. I concentrated on bank exams
preparations only.
28. Why you want to
enter in banking industry?
Answer:
Because
this industry is growing steadily and there would be no limit to my career
growth. Further, I need stability in my career.
29. Are you a reliable person with strong work ethics?
Answer:
Not a
surprising question to ask a bank clerk. Reliability implies the ability to
maintain confidentiality and never disclose any banking information to
unauthorized persons outside work. Reliability and work ethics also imply the
ability to perform customer operations honestly and with care.
30. Are you able to work in a computerized environment and spend
long hours at the computer?
Answer:
Banks are
computerized. Clerks are required to operate basic computer applications,
including the banking program that the bank is using. The job might involve
some walking to consult other staff members or manipulate documentation.
Otherwise, the job is sedentary and requires care and patience.
31. What would you consider important for a bank clerk, being the
first point of contact with customers?
Answer:
Bank
clerks should be highly aware of their position as the first point of contact
for most customers. Clerks are the face of the company; they are presentable
and professional in demeanor. They answer all queries clearly and politely.
32. Give examples of bank clerking duties?
Answer:
Among the
most common transactions are receiving deposits, cashing checks, and handling
withdrawals. To perform such operations, clerks need to perform client
identification and ensure validity of signature on documents and checks.
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