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Thursday, 10 March 2016

IBPS Clerk PO Interview Common & Top Asking Questions part-II

friends , Here Again Coming With IBPS Clerk PO Interview Common & Top Asking Questions part-II .
1. What is SWIFT?
SWIFT :- Society for worldwide Interbank financial tele- communication.
a. India was 74th Nation to join SWIFT Network.
b. SWIFT Code is a standard format of bank Identifier code. This code is used particularly in International transfer of money between banks.
c.A majority of FOREX related message are sent to correspondent banks abroad through SWIFT.
SWIFT Code consist 8 or 11 character when code is 8 digit, It is referred to primary office 4 – bank code
2 – country code
2 – location code
3 – branch code (optional).
 
2. What is Swabhimaan Yojana?
Swabhimaan is a financial inclusion plan of bank to take banking to the door steps of the remote village where banking facility are not available.
 
3. What is NOSTRO and VOSTRO account?
NOSTRO Account: A NOSTRO account is maintained by an Indian bank in the foreign countries.
VOSTRO Account: a vostro a/c is maintained by a foreign bank in India with their corresponding bank.
 
4. What is a DeMat Account?
DeMat is nothing but a dematerialized account. If one has to save money or make cheque payments, then he/she needs to open a bank account. Similarly, one needs to open a DeMat account if he/she wants to buy or sell stocks. Thus, DeMat account is similar to a bank account wherein the actual money is being replaced by shares. In order to open a DeMat account, one needs to approach the Depository Participants [DPs].
In India, a DeMat account is a type of banking account that dematerializes paper-based physical stock shares. The DeMat account is used to avoid holding of physical shares: the shares are bought as well as sold through a stock broker. In this case, the advantage is that one does not need any physical evidence for possessing these shares. All the things are taken care of by the DPs. This account is very popular in India. Physically only 500 shares can be traded as per the provision given by SEBI. From April 2006, it has become mandatory for any person holding a DeMat account to possess a Permanent Account Number (PAN).
 
5. What is RuPay Card?
RuPay is the Indian domestic card payment network set up by National Payments Corporation of India (NPCI) at the behest of banks in India. The RuPay project had been conceived by Indian Banks Association (IBA) and had the approval of Reserve Bank of India (RBI).
RuPay LogoNational Payments Corporation of India (NPCI) has a plan to provide a full range of card payment services including the RuPay ATM, RuPay MicroATM, Debit, Prepaid and Credit Cards which will be accepted in India and abroad, across various channels like POS, Internet, IVR and mobile etc.
The initial focus of NPCI would be to approach those banks who have not been issuing any payment card at all more specifically – Regional Rural Banks (RRBs) and urban co-operative banks.
All Public Sector Undertakings (PSU) banks set to join RuPay system by the end of year 2012. RuPay-based debit cards can be used by the consumers on the Internet from September, 2012.
The government of India had launched India's first domestic payment card network, RuPay, to compete with Visa Inc and Mastercard Inc.
 
6. What is foreign exchange reservers?
Foreign exchange reserves (also called Forex reserves) in a strict sense are only the foreign currency deposits and bonds held by central banks and monetary authorities.However, the term in popular usage commonly includes foreign exchange and gold,SDRs and IMF reserve positions.
 
7. What is Bancassurance ?
Bancassurance stands for distribution of financial products particularly the insurance policies (both the life and non-life), also called referral business, by banks as corporate agents, through their branches located in different parts of the country.
 
8. What is Money Laundering ?
Money laundering is the processes of concealing the source of obtain money. Money or funds obtained through illegal activities are presented as legitimate.
 
9. What is the difference between Nationalized bank and Private Bank ?
A Nationalized bank is one that is owned by the government of the country. Since the people decide who the government is, they are also referred to as public sector banks. The government is responsible for the money deposited into the accounts of these banks. Where as a private sector bank is one that is owned by an independent individual or a company that is controlled by a few individuals. In short, the bank is owned by someone else and they run the bank. The person owning/running the bank is responsible for the money deposited into the accounts of these banks.
 
10. What are non-perfoming assets?
A classification used by financial institutions that refer to loans that are in jeopardy of default. Once the borrower has failed to make interest or principal payments for 90 days the loan is considered to be a non-performing asset. Also known as "non-performing loan".
 
Also read :
Part –1   IBPS Clerk PO Interview Common & Top Asking Questions





































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