IBPS Interview Questions and Answers
- Please tell us something about yourself.
- How many other banks have you applied for?
- Why do you want to choose Banking Sector as your career option?
- Name the Governor of RBI?
- How do you think you would compete with candidates having MBA degree?
- Which was the first bank established in
- What do you know about this organization?
- Do you think privatization of banks is helpful to our economy? Why or why not?
- Which do you prefer for your career, a government bank or a private bank? Why?
- How would you distinguish between a current bank account and a savings bank account?
- What do you know about Mutual Fund?
- What are the primary differences between a Private Bank and a Public Bank? Name some of each.
- What do you know about Bank Rate?
- Would you want to ask us any questions?
What
is the difference between trail balance and balance sheet?
(Answer:
Trial balance is not the accurate balance and is not a factually correct
representation of the financial position of a company while balance sheet is an
official documentation of the company finances.)
Are
the company’s profits revealed through balance sheet?
(Answer: Balance sheet
is also known as statement of financial position. It contains the assets,
liabilities and ownership equities listed usually at the end of financial year.
This reveals what the company owes and what it owns and also the amount
invested by shareholders. So yes the profits are also revealed through balance
sheet.)
What
is the basic difference between bank rate and repo rate?
(Answer: Bank rate is also commonly known
as discount rate. It is the rate of interest that is charged by the central
bank when the commercial banks that are temporarily short of cash borrow from
the central bank. When the commercial banks borrow via repos or repurchase, the
rate that the central bank charges from the commercial banks is then called
repo rate. In case of repo rate, the central bank lends the short-term loan
against securities.)
Explain what is VAT and where does the money go?
(Answer: A value added tax (VAT) falls
into the category of consumption tax. Buyers see it as the tax levied on the purchase price. From the
perspective of the seller, VAT is a tax on the value added to a product, material, or service. The manufacturer pays to
the government the difference between these two amounts. The rest of the tax is
retained by the manufacturers to balance off the taxes that they had previously
paid on the inputs.)
What
is the difference between SLR and CRR ?
(Answer: SLR is statutory
liquidity ratio. It is the amount a commercial bank needs to keep in
reserve in the form of cash, or gold or government approved
securities or Bonds before it can provide credit to
its customers. SLR rate is
determined and maintained by the Reserve Bank of India
CRR is cash reserve ratio. It is the
amount of cash, which might be liquid cash such as gold, the banks
have to maintain with RBI. This ratio is to secure solvency of the
bank and to drain out the excessive money from the banks. When the
percent of CRR is increased by RBI, the available
amount with the banks comes down and if RBI reduces the CRR then
available amount with banks increases and they gain the
power to lend increasingly.)
What is Sales Tax?
(Answer: A
tax on sales or on the receipts from sales or retail goods or services. This tax is paid by a buyer or an individual to the
seller at the time of buying goods or commodities. In India
What is the latest trend of clearing system (of any particular
bank or the bank in which the candidate appears for interview)
Why do you think a probationary officer checks or verifies the
transaction entries made by the clerk?
(Answer: The
entries are double checked to reduce the possibilities of error.)
Explain
what is GDP .
(Answer: GDP is gross
domestic product and is the market value of the all the goods and services
produced by a nation in a given period of time.)
How frequently do you visit banks?
How long were you sitting outside the interview room?
To a commerce graduate candidate: You have Chartered
Accountants, Engineers, MBA and B.E. candidates as your competitors. How do you
think you will compete with them being a commerce student?
Do you read newspapers regularly? Which newspaper do you read?
What is the headline given in the newspaper (the newspaper that the candidate
answers)?
Name all the BRICS nations.
(Answer: Brazil Russia India China South
Africa
What subjects did you have in commerce?
What is Direct Tax?
(Answer: A tax that is paid directly by an individual or
organization to the government. This tax is levied on the individual’s income
or profits rather than on goods or services.)
A candidate with B Tech background: Why did you choose banking
sector?
A candidate who left telecom sector to enter banking: Telecom is
a booming sector. Why would you want to change sectors?
How open are you to posting in rural sectors?
Which other banks have you appeared for interview before this?
