Here are some of the basic interview questions asked in the IBPS PO interviews 2012.The questions of basic nature has been selected so that you can start your preparation finding answers to the easy ones.
1. Where are you from?
2. What can you tell us about your home town?
3. Tell me about your family
4. If you get the job will you be ready to work anywhere in India?
5. Do you think your parents will allow you to work anywhere across India?
6. What is your ambition in life?
7. The why are you applying for the post of clerk?
8. Did you prepare for the interview?
9. What all questions did you prepare?
10. What are your strengths and weaknesses?
11. Don’t you think you are over qualified for this simple job?
12. Why not software after engineering?
13. Do you have any bank account?
14. Where and why?
15. What type of bank account do you have?
16. What are the types of bank accounts?
17. What all details you need to fill up while withdrawing cash from the bank?
18. What do you mean by International Trade?
19. What is Balance of Payment?
20. Why do you want to work in this bank?
21. Have you applied for any other banks?
22. What do you know about this bank?
23. Have you gone through our website?
24. What is missing in the design of our website compared to the website of other banks?
25. Have you attended any bank interviews before?
26. What can you say about the recent regime change in uttar pradesh
27. What are the states where elections are going on
28. What are the main differences you see in a private bank and public bank?
29. Have you heard about Basel 2?
30. What is the importance of Basel 2 in the present banking environment?
31. Have you applied to any other areas apart from banking?
32. What do you consider your Most Significant Strengths?
33. Why do you want to work here?
34. What do you know about the position you are applying?
35. How do you feel about committing yourself to another three years of exams?
36. Tell me about an experience in which you had to use tact?
37. Who are our major competitors and what differences do you notice in our products?
38. What significant trends do you see in the future for our industry?
39. Why do you Believe that you are Qualified for this Position?
40. How do you Handle Pressure?
41. Who are our major competitors and what differences do you notice in our Banking products?
42. What significant trends do you see in the future for our industry?
43. What are your goals in Banking?
44. Where do you see yourself after 5 years in the future?
45. What can be done against inflation?
46. What is the latest book you read?
47. Do you support privatization of banks and why?
48. Where an insurance company does invests its funds?
49. Who is governor of RBI?
50. What is CRR?
51. What was the name of first bank established in India?
52. What are the tools with RBI to control liquidity in market?
53. What is the difference between Savings account and Current account?
54. What do you know about NIACL?
55. Which bank recently got submerged in SBI?
56. Which bank faced financial crises recently?
57. What significant trends do you see in the future of the bank industry?
Bank Interview: selected Questions
1. What is Balance of Trade?
The value of a country’s exports minus the value of its imports. Unless specified as the balance of merchandise trade, it normally incorporates trade in services, including earnings (interest, dividends, etc.) on financial assets.
2. What is Balanced Trade?
When A balance of trade equal to zero. (exports-imports=0)
3. What is Balance of merchandise trade?
The value of a country’s merchandise exports minus the value of its merchandise imports.
4. What is a favourable balance of trade?
It is the difference between exports and imports. Debit items include imports, foreign aid, domestic spending abroad and domestic investments abroad. Credit items include exports, foreign spending in the domestic economy and foreign investments in the domestic economy. A country has a trade deficit if it imports more than it exports; the opposite scenario is a trade surplus.
5. What is Balance of Payments?
A list, or accounting, of all of a country’s international transactions for a given time period, usually one year. Payments into the country (receipts) are entered as positive numbers, called credits; payments out of the country (payments) are entered as negative numbers called debits. A single number summarizing all of a country’s international transactions: the balance of payments surplus.
6. What is Balance of payments adjustment mechanism?
Any process, especially any automatic one, by which a country with a payments imbalance moves toward balance of payments equilibrium
7. What is Monopolistic Competition?
A market structure in which there are many sellers each producing a differentiated product. Each can set its own price and quantity, but is too small for that to matter for prices and quantities of other producers in the industry.
8. What is MFN?
MFN stands for Most Favoured Nation. The principle, fundamental to the GATT, of treating imports from a country on the same basis as that given to the most favored other nation. That is, and with some exceptions, every country gets the lowest tariff that any country gets, and reductions in tariffs to one country are provided also to others.
9. What is Gold Standard?
A monetary system in which both the value of a unit of the currency and the quantity of it in circulation are specified in terms of gold. If two currencies are both on the gold standard, then the exchange rate between them is approximately determined by their two prices in terms of gold.
10. What is Balance on capital account?
A country’s receipts minus payments for capital account transactions.
11. What is Balance on current account ?
A country’s receipts minus payments for current account transactions. Equals the balance of trade plus net inflows of transfer payments.
12. What is a Balanced budget ?
A government budget surplus that is zero, thus with net tax revenue equaling expenditure. A balanced budget change in policy or behavior is one in which a component of the government budget, usually taxes, is adjusted as necessary to maintain a balanced budget.
13. What is balanced growth of an Economy?
Growth of an economy in which all aspects of it, especially factors of production, grow at the same rate.
14. What is a Repo?
Repo is “Repurchase Agreement. An agreement to sell a security for a specified price and to buy it back later at another specified price. A repo is essentially a secured loan.
15. What is a Barter economy?
An economic model of international trade in which goods are exchanged for goods without the existence of money. Most theoretical trade models take this form in order to abstract from macroeconomic and monetary considerations.
16.What is Basel I?
Also known at Basel Capital Accord, this was an agreement in 1988 by the Basel Committee of central bankers to measure the credit risk of commercial banks and set minimum standards for bank capital in order to reduce the likelihood of international repercussions due to bank failures.
17.What is a Beggar thy neighbor policy?
For a country to use a policy for its own benefit that harms other countries. Examples are optimal tariffs and, in a recession, tariffs and/or devaluation to create employment.
18. What is a Bill of Lading?
This term is normally used in shipping industry. The receipt given by a transportation company to an exporter when the former accepts goods for transport. It includes the contract specifying what transport service will be provided and the limits of liability.
19. What is the use of color boxes in WTO category of subsidies?
Used with a color, a category of subsidies based on status in WTO: red=forbidden, amber or orange=go slow, green=permitted, blue=subsidies tied to production limits. Terminology seems only to be used in agriculture, where in fact there is no red box.
20. What is Black Money ?
Black Money is the unaccounted money concealed from the tax authorities. The black money runs a parallel economy adversely affecting the distribution of wealth & income in the economy.
The total amount of black money globally is estimated between $2.1 and 2.5 trillion. This is roughly about seven percent of the world’s GDP.
21.What is a Black Market?
A black market is an illegal market, in which something is bought and sold outside of official government-sanctioned channels. Black markets tend to arise when a government tries to fix a price without itself providing all of the necessary supply or demand. Black markets in foreign exchange almost always exist when there are exchange controls.
22.What is a blue chip company? Why it is blue color only used in such companies?
A blue chip is concerned with stocks & shares of company, which are well established and whose purchase is considered extremely safe. Due to stable earnings and no extensive liabilities these companies are called blue chip companies.
The term blue chip comes from casinos, where blue chips stand for counters of the highest value. Most blue chip stocks pay regular dividends, even when business is faring worse than usual.
23.What is a direct Tax?
A direct tax is that which is paid directly by someone to taxing authority. Income tax and property tax are examples of direct tax. They are not shifted to somebody else.
24.What is an Indirect Tax?
This type of tax is not paid by someone directly to the authorities and it is actually passed on to the other in the form of increased cost. They are levied on goods and services produced or purchased. Excise tax, Sales tax, VAT are indirect taxes.
25.What are LDCs or Least Developed Countries?
Least Developed Countries (LDCs) are countries which as per United Nations show the lowest indicators of socioeconomic development.
They have lowest Human Development Index ratings of all countries in the world.
A country which has three-year average Gross national Income per capita of less than US $750 is tagged as LDC. a LDC must have an income of $ 900 to escape this tag. Besides if thse countries show human resource weakness based on indicators of nutrition, health, education and adult literacy and also or economic vulnerability based on instability of economy . Currently UN has tagged 49 countries in LDC. India is not an LDC.
26.What are Middle Income Countries ?
Middle-income countries (MICs) are the 86 countries that fall into the middle-income range set by the Bank’s World Development Indicators. They account for just under half of the world’s population; are home to one-third of people across the globe living on less than $2 per day; and are found in all six of the Bank’s geographical regions. They cover a wide income range, with the highest income MIC having a per capita income 10 times that of the lowest.
27.What is Policy of Laissez Faire?
Laissez Faire is a French term and means no interference. It is a doctrine that states that government generally should not intervene in the marketplace.
28.What is the difference between Monopoly and Monopsony ?
In monopsony only one buyer faces many sellers. So this is called Buyer’s Monopoly. It is a rare situation in today’s economy.
In monopoly one seller faces many buyers. As the only purchaser of a good or service, the “monopsonist” may dictate terms to its suppliers in the same manner that a monopolist controls the market for its buyers.
29.What is the main function of Competition Commission of India?
CCI is an independent body which become operational w.e.f. May 20, 2009 and is responsible for investigating the mergers, market shares & conditions besides regulating firms. CCI will ultimately replace the Monopolies and Restrictive Trade Practices Commission (MRTPC) ofIndia.
30.What is Lead Bank Scheme?
Lead bank scheme was introduced around 40 years ago and recently it was in the news as a high level committee chaired by RBI Deputy Governor Usha Thorat was constituted to review and revitalize this scheme. The scheme aims at facilitating credit delivery to the farfetched areas ofIndia. There are members of the committee from NABARD and SIDBI. Thus the scheme focuses upon financial inclusion.
The Opinion of this committee is that full financial inclusion is possible only if it makes a facility of opening of no frill accounts backed by other specialized services.
31.What are Nostro & Vostro Accounts ?
A nostro account is maintained by an Indian Bank in the foreign countries for a facility of easy clearing of their transactions. For instance, if the bank pays a demand drawn on it by its correspondent bank, there is no delay because the foreign corresponded bank would already have credited the nostro account of the paying bank while issuing the demand draft.
A vostro account is maintained by a foreign bank in India with their corresponding bank.
32.From which country India imports maximum?
From China. Import from China was $ 24.16 billion in 2008-09, which got doubled in 3 years. This is 10.3 % of all the imports of India.
33.What is Gold Standard?
A system of setting currency values whereby the participating countries commit to fix the prices of their domestic currencies in terms of a specified amount of gold.
34.What is a Free Float Exchange Rate system?
An exchange rate system characterized by the absence of government intervention. Also known as a clean float.
35.What are the requirements to open a New Branch in Rural Area?
Since 2006, RBI has approved the opening of new branches only on the condition that at least half of such branches are opened in under-banked areas as notified by the regulator.
The opening of branches by banks is governed by the provisions of Section 23 of the Banking Regulation Act, 1949. In terms of these provisions, banks cannot open a new place of business inIndia or abroad or change otherwise than within the same city, town or village, the location of the existing place of business without the prior approval of the ReserveBank of India (RBI). Thus, it is mandatory for RRBs to seek prior approval/ license from Rural Planning and Credit Department (RPCD) of RBI before opening of new branches/offices.
RRB should fulfill the following conditions to become eligible for opening of new branch/es.
1. It should not have defaulted in maintenance of SLR and CRR during the last two years.
2. The RRB should be making operational profits, its net worth should show improvement 3. Its net NPA ratio should not exceed 8 per cent.
36.What is concept sustainable Development?
Meeting the needs of the present without compromising the ability of future generations to meet their needs is called sustainable development. This concept is popular in present context of development.
37.What is the meaning of Financial Inclusion?
Today is is well recognized that large population of India is out of reach of the formal banking services. Financial inclusion is the concept which has been floated to bring the most of the rural population / area under the net of the financial and banking services.
38. What is SATMO?
SATMO is Satellite Money Order Service introduced by Postal Department Govt. of India on December 16, 1994. However this scheme could not make its headway due to functional complicacies.
39. What is “Vande Mataram Scheme” ?
Vande mataram schem is a nationwide programme aimed at improving ante and post-natal care–which was launched on February 9, 2004. The scheme envisages free ante and post-natal check-ups, tips to avoid nutritional problems and anemia and counseling on small family norm and is a major initiative in Public Private partnerships during emergency.
40. What is Golden Handshake Scheme?
Golden handshake scheme is a Govt. of India scheme introduced as a Voluntary retirement Scheme (VRS) in Industrial Policy Resolution 1991 for reducing the pressure of extra employees on public sector enterprises.
41. What is India Brand Equity Fund?
This is a scheme to promote Indian Brands in Overseas Markets with the primary objective of brand promotion and not export promotion. To make the “Made in India” label a symbol of quality, competitive price, reliability and service to the customer & to project India as a reliable supplier of quality goods and services. It was established on July 11, 1996.
42. What is Jago Grahak Jago”?
The Consumer Awareness Scheme for the XI Plan amounting to a total of Rs. 409 crores has been approved by the Cabinet Committee on Economic Affairs on 24.01.08. This scheme has been formulated to give an increased thrust to a multi media publicity campaign to make consumers aware of their rights. The slogan ‘Jago Grahak Jago’ is part of the publicity campaign undertaken in the last few years.
‘Jago Grahak Jago’ has become the focal theme through which issues concerning the functioning of almost all Government Departments having a consumer interface can been addressed. To achieve this objective joint campaigns have been undertaken/are being undertaken with a number of Government Departments.
43. What is a revolving credit?
Revolving credit is a type of credit that does not have a fixed number of payments. Corporate revolving credit facilities are typically used to provide liquidity for a company’s day-to-day operations.The credit cards are examples of revolving credit. They are renewed automatically until the notice of cancellation is receieved. The time of repayment is specified.
44. What is Gender Budgeting?
Gender budgeting is the process of conceiving, planning, approving, executing, monitoring, analyzing and auditing budgets in a gender-sensitive way. Gender Budgeting is actually an attempt to women upliftment without any sex discrimination while formulating the policies and making allocation for them.
Gender Budgeting is a process that entails incorporating a gender perspective at various stages- planning/ policy/ programme formulation, assessment of needs of target groups, allocation of resources, implementation, impact assessment, reprioritization of resources.
Gender Responsive Budget and Gender Mainstreaming are outcomes of Gender Budgeting.
45. What is Soft Currency?
Soft currency is opposite of hard currency and it indicates a type of currency whose value may depreciate rapidly or that is difficult to convert into other currencies. Soft currency can be in the form of paper, electronic or debt-based “IOUs” which have in the past been used in place of hard currency. This currency has limited convertibility into gold and other currencies.
46. What are factors of production?
The resources and the inputs which are required to produce a good or service is called factor of production. The basic categories are land labor and capital.
47. What is the principle of Diminishing returns?
This principle says that if one factor of production is fixed and constant additions of other factors are combined with this, the marginal productivity of variable factors will eventually decline. According to this relationship, in a production system with fixed and variable inputs (say factory size and labor), beyond some point, each additional unit of the variable input yields smaller and smaller increases in output. Conversely, producing one more unit of output costs more and more in variable inputs.