INTERVIEW QUESTIONS RECEIVED AND ANSWERED
Q)-what is ndtl limit for MSF.How much can a bank
borrow of its NDTL through MSF ??
Is it 0.75 % or it is increased??
http://www.bankingawareness.com/banking-gk/marginal-standing-facility-or-msf-rbi/
Is it 0.75 % or it is increased??
http://www.bankingawareness.com/banking-gk/marginal-standing-facility-or-msf-rbi/
Q2)-Is overnight repos and MSF same thing ??
http://www.bankingawareness.com/banking-gk/marginal-standing-facility-or-msf-rbi/
Q3)-What is the meaning of Nabard and RBI logo??
NATIONAL BANK FOR AGRICULTURE AND RURAL
DEVELOPMENT. RBI emblem and logo there
no special meaning.
Q4)-difference between pre and post 2005 currency notes ??
Q4)-difference between pre and post 2005 currency notes ??
Identifying Pre 2005 Currency Notes: Currently the Reserve Bank of India prints currency notes in
the denomination of Rs. 5, Rs. 10, Rs. 20, Rs. 50, Rs. 100, Rs. 500 and Rs.
1,000. All the notes printed before the year 2005 do not have the year of
printing marked on it. All currency notes printed post 2005 have is year of
printing clearly printed in the middle of the bottom row on the backside of the
note. If your bank note has no year of printing on the back, it means the note
is printed before 2005 and needs to be exchanged with the bank as per the RBI
deadline. All notes with the year of printing indicated on the currency note
would stay in operation as all of them are posted after 2005.
Q5)- the BOI branch in which i got posting is a LEAD branch and has Currency chest .What type of questions can i expect on this ??
Q5)- the BOI branch in which i got posting is a LEAD branch and has Currency chest .What type of questions can i expect on this ??
Ans. functions of currency chest? How many branches are served? What is the average cash holding? Etc.
disucss with people working there.
Q6)- what is the difference between rs 500 and rs 1000 note ??
Q6)- what is the difference between rs 500 and rs 1000 note ??
RBI introduces new currency
features in Rs 500, Rs 1,000 notes
The Reserve Bank of India (RBI) on Tuesday said it
will shortly put into circulation banknotes in the denominations of Rs 500 and
Rs 1,000 incorporating three new/revised features.
672 7 G+12 3
·
·
The Reserve Bank of India (RBI) on Tuesday said it
will shortly put into circulation banknotes in the denominations of Rs 500 and
Rs 1,000 incorporating three new/revised features.
The features will include
ascending size of numerals in the number panels, bleed lines and enlarged
identification mark, it said.
The RBI had recently put
into circulation R500 banknotes with numerals in ascending size in number
panels, but without bleed lines and enlarged identification mark. It has now
added two more features to aid the visually impaired in easy identification of
banknotes, apart from securing them against counterfeiting.
“The current banknotes will
be without inset letter in the number panels. The notes will bear signature of
Raghuram G Rajan, Governor. The year of printing (2015) appears on the reverse.
Except for these features, the overall design of Rs 500 and Rs 1,000 banknotes
have been retained,” the central bank said.
The apex bank said the
numerals in both the numbering panels of banknotes will be in ascending size
from left to right, while the first three alpha-numeric characters will remain
constant in size.
The banknotes of Rs 500
denomination will have five angular bleed lines in three sets of 2-1-2 lines on
the obverse in both, the upper left and the right hand edge of the banknote.
Similarly, Rs 1,000
banknotes will have six angular bleed lines in four sets of 1-2-2-1 lines on
the obverse in both, the upper left and right hand edge of the banknotes. These
will facilitate identification of these notes by visually impaired persons, RBI
said in the press release.
The existing identification
mark (circular-shape in Rs 500 and diamond in Rs 1,000) near the left edge of
the banknote has been enlarged.
Q7)-KYC-AML (documents authenticated and importance)
https://www.rbi.org.in/scripts/FAQView.aspx?Id=82
please refer to the links which are provided below.)
please refer to the links which are provided below.)
Q 1. What is
KYC? Why is it required?
Response: KYC means “Know Your Customer”. It is a process by which banks obtain
information about the identity and address of the customers. This process helps
to ensure that banks’ services are not misused. The KYC procedure is to be
completed by the banks while opening accounts and also periodically update the
same.
Q 2. What are
the KYC requirements for opening a bank account?
Response: To open a bank account, one needs to submit a ‘proof of identity
and proof of address’ together with a recent photograph.
Q3. What are
the documents to be given as ‘proof of identity’ and ‘proof of address’?
Response: The Government of India has notified six documents as ‘Officially
Valid Documents (OVDs) for the purpose of producing proof of identity. These
six documents are Passport, Driving Licence, Voters’ Identity Card, PAN Card,
Aadhaar Card issued by UIDAI and NREGA Card. You need to submit any one of
these documents as proof of identity. If these documents also contain your
address details, then it would be accepted as as ‘proof of address’. If the
document submitted by you for proof of identity does not contain address
details, then you will have to submit another officially valid document which
contains address details.
(http://rbidocs.rbi.org.in/rdocs/content/pdfs/PMLAME170714_A.pdf)
(http://rbidocs.rbi.org.in/rdocs/notification/PDFs/CA090614FCN.pdf)
(http://rbidocs.rbi.org.in/rdocs/notification/PDFs/CA090614FCN.pdf)
Q 4. If I do
not have any of the documents listed above to show my ‘proof of identity’, can
I still open a bank account?
Response: Yes. You can still open a bank account known as ‘Small Account’ by
submitting your recent photograph and putting your signature or thumb
impression in the presence of the bank official.
Q 5. Is there
any difference between such ‘small accounts’ and other accounts
Response: Yes. The ‘Small Accounts’ have certain limitations such as:
·
balance in such accounts at any point of time
should not exceed Rs.50,000
·
total credits in one year should not exceed
Rs.1,00,000
·
total withdrawal and transfers should not exceed
Rs.10,000 in a month.
·
Foreign remittances cannot be credited to such
accounts.
Such accounts
remain operational initially for a period of twelve months and thereafter, for
a further period of twelve months, if the holder of such an account provides
evidence to the bank of having applied for any of the officially valid
documents within twelve months of the opening of such account. The bank will
review such account after twenty four months to see if it requires such
relaxation.
Q 6. Would it
be possible, if I do not have any of the officially valid documents, to have a
bank account, which is not subjected to any limitations as in the case of
‘small accounts’?
Response: A normal account can be opened by submitting a copy of any one of
the following documents:
(i) Identity
card with person’s photograph issued by Central/State Government Departments,
Statutory/Regulatory Authorities, Public Sector Undertakings, Scheduled
Commercial Banks, and Public Financial Institutions;
or
(ii) letter
issued by a gazetted officer, with a duly attested photograph of the person.
This, however,
is not a general rule and it is left to the judgement of the banks to decide
whether this simplified procedure can be adopted in respect of any customer.
Q 7. Are banks
required to categorise their customers based on risk assessment?
Response: Yes, banks are required to classify the customers into ‘low’,
‘medium’ and ‘high’ categories depending on their AML risk assessment.
Q 8. Do banks
inform customers about this risk categorisation?
Response: No
Q 9. If I
refuse to provide requested documents for KYC to my bank for opening an
account, what may be the result?
Response: If you do not provide the required documents for KYC, the bank may
not be able to open your account.
Q 10. Can I
open a bank account with only an Aadhaar card?
Response: Yes, Aadhaar card is now accepted as a proof of both, identity and
address.
Q 11. What is
e-KYC? How does e-KYC work?
Response: e-KYC refers to electronic KYC.
e-KYC is
possible only for those who have Aadhaar numbers. While using e-KYC service,
you have to authorise the Unique Identification Authority of India (UIDAI), by
explicit consent, to release your identity/address through biometric
authentication to the bank branches/business correspondent (BC). The UIDAI then
transfers your data comprising name, age, gender, and photograph of the
individual, electronically to the bank/BC. Information thus provided through
e-KYC process is permitted to be treated as an ‘Officially Valid Document’
under PML Rules and is a valid process for KYC verification.
Q 12. Is
introduction necessary while opening a bank account?
Response: No, introduction is not required.
Q 13. If I am
staying in Chennai but if my address proof shows my address of New Delhi, can I
still open an account in Chennai?
Response: Yes. You can open a bank account in Chennai even if your permanent
address is in New Delhi and you do not have a proof of address for your
Chennai. In that case, you can submit an officially valid document (proof of
address document) of your New Delhi address together with a declaration about
your Chennai address, for communication purposes.
Q 14. Can I
transfer my existing bank account from one place to another? Do I need to
undergo full KYC again?
Response: Yes, it is possible to transfer an account from one branch to
another branch of the same bank. There is no need for KYC exercise again to
transfer a bank account from one branch to another branch of the same bank.
However, if there is a change of address, then you would have to submit a
declaration about the current address. If the address in the ‘officially valid
documents’/ ‘proof of address’ is neither permanent nor current address, a new
proof of address would be required within six months. In case of opening an
account in another bank, however, you would have to undergo KYC exercise
afresh.
(http://rbidocs.rbi.org.in/rdocs/notification/PDFs/KYCAML290113_F.pdf and
http://rbidocs.rbi.org.in/rdocs/notification/PDFs/CA090614FCN.pdf)
http://rbidocs.rbi.org.in/rdocs/notification/PDFs/CA090614FCN.pdf)
Q 15. Do I have
to furnish KYC documents for each account I open in a bank even though I have
furnished the documents of proof of identity and address?
Response: No, if you have opened an account with a bank, which is KYC
compliant, then for opening another account with the same bank, furnishing of
documents is not necessary.
Q 16. For which
banking transactions do I need to quote my PAN number?
Response: PAN
number needs to be quoted for transactions, such as, account opening,
transactions above Rs.50,000 (whether in cash or non-cash), etc. A full list of
transaction where PAN number needs to be quoted can be accessed from website of
Income Tax Department at the following URL:
http://law.incometaxindia.gov.in/DIT/File_opener.aspx?page=ITRU&schT=rul&csId=21533008-bbb4-4f86-b609-9296e8b5223e&rNo=114B&sch=&title=Taxmann%20-%20Direct%20Tax%20Laws
Q 17. Whether
KYC is applicable for Credit/Debit/Smart/Gift cards?
Response: Yes. Full KYC exercise is necessary for Credit/Debit/Smart/for
purchaser of Gift Cards and also in respect of add-on/ supplementary cards.
Q 18. I do not
have a bank account. But I need to make a remittance. Is KYC applicable to me?
Response: Yes. KYC exercise needs to be done for all those who want to make
domestic remittances of Rs. 50,000 and above and all foreign remittances.
Q 19. Can I
purchase a Demand Draft/Payment Order/Travellers Cheque against cash without
KYC?
Response: Demand Draft/Payment Order/Travellers Cheques for Rs.50,000/- and
above can be issued only by way of debiting the customer's account or against
cheques.
Q 20. Do I need
to submit KYC documents to the bank while purchasing third party products (like
insurance or mutual fund products) from banks?
Response: Yes, all customers who do not have accounts with the banks (known
as walk-in customers) have to produce proof of identity and address while
purchasing third party products from banks if the transaction is for Rs.50,000
and above. KYC exercise may not be necessary for bank’s own customers for
purchasing third party products. However, instructions to make payment by debit
to customers’ accounts or against cheques for remittance of funds/issue of
travellers’ cheques, sale of gold/silver/platinum and the requirement of
quoting PAN number for transactions of Rs.50,000 and above would be applicable
to purchase of third party products from banks by bank’s customers as also to
walk-in customers.
Q 21. My KYC
was completed when I opened the account. Why does my bank insist on doing KYC
again?
Response: Banks are required to periodically update KYC records. This is a
part of their ongoing due diligence on bank accounts. The periodicity of such
updation would vary from account to account or categories of accounts depending
on the bank’s perception of risk. Periodical updation of records also helps
prevent frauds in customer accounts.
Q 22. What are
the rules regarding periodical updation of KYC?
Response: Different periodicities have been prescribed for updation of KYC
records depending on the risk perception of the bank. KYC is required to be
done at least every two years for high risk customers, at least every eight
years for medium risk customers and ten years for low risk customers. This
exercise would involve all formalities normally taken at the time of opening
the account.
If there is no
change in status with respect to the identity (change in name, etc.) and/or
address, such customers who are categorised as ‘low risk’ by the banks may now
submit a self-certification to that effect at the time of periodic updation.
In case of
change of address of such ‘low risk’ customers, they could merely forward a
certified copy of the document (proof of address) by mail/post, etc. Physical
presence of such low risk customer is not required at the time of periodic
updation.
Customers who
are minors have to submit fresh photograph on becoming major.
Q 23. What if I
do not provide the KYC documents at the time of periodic updation?
Response: If you do not provide your KYC documents at the time of periodic
updation bank has the option to close your account. Before closing the account,
the bank may, however, impose ‘partial freezing’ (i.e. initially allowing all
credits and disallowing all debits while giving an option to you to close the
account and take your money back). Later even all credits also would not be
allowed. The ‘partial freezing’ however, would be exercised by the bank after
giving you due notice.
Q 24. How is
partial freezing imposed?
Response: Partial freezing is imposed in the following ways:
·
While imposing ‘partial freezing’, banks have to
give due notice of three months initially to the customers before exercising
the option of ‘partial freezing’.
·
After that a reminder for further period of three
months would be issued.
·
Thereafter, banks may impose ‘partial freezing’ by
allowing all credits and disallowing all debits with the freedom to close the
accounts.
·
If the accounts are still KYC non-compliant after
six months of imposing initial ‘partial freezing’ banks may disallow all debits
and credits from/to the accounts, rendering them inoperative.
·
Thus, one year after the account is due for
updation, if you do not provide the necessary documents/information, your
account would become fully inoperative i.e, neither credits nor debits would be
allowed in the account.
Meanwhile, the
account holders can revive accounts by submitting the KYC documents.
Q8)-. What is FATCA form.....? Why it is necessary?
Foreign Account
Tax Compliance Act under this forms have
to be submitted by Foreigners/non residents.
Not applicable for resident Indians.
Q9)-If it is late in the evening and an old man arrives at your branch with Rs 5 lakhs cash. You are alone in the branch and cash transaction have been closed. What will you do?
Q9)-If it is late in the evening and an old man arrives at your branch with Rs 5 lakhs cash. You are alone in the branch and cash transaction have been closed. What will you do?
I will inform him politely that the cash vault has
been closed for the day and hence cash cannot be received. I will request him to come on the next
working day.
Q9)-if an old man wants to open an account but he does not have a valid id proof .What should be your next suggestion to him ??
Ans. Now
Banks can open deposit account even though address proof is not there. A declaration of his current address for
future correspondence will be taken.
In major relief to migrant workers who faces
roadblocks while opening a bank account due to lack of proof of local address, the Reserve Bank of
India (RBI) today simplified the know your customer norms (KYC) for opening
accounts.
In a communication to banks, the regulator said only oneaddress proof – either permanent or current – will be required to open a bank account. In case the address mentioned as per ‘proof of address’ undergoes a change, fresh proof of address has to be submitted to the branch within six months.
“RBI has been receiving representations/references from various quarters’ especially migrant workers, transferred employees, etc. regarding problems faced in submitting a proof of current/permanent address while opening a bank account,” a statement from the regulator said explaining the rationale for the move.
The central bank said that if address proof furnished by the customer is not the local address or address where the customer is currently residing, the bank will a declaration of the local address on which all correspondence will be made by the bank with the customer.
“No proof is required to be submitted for such address for correspondence/local address,” RBI clarified.
R K Bansal, Executive Director of IDBI Bank said that though this is a step ahead in financial inclusion, it may pose some operational challenges initially for the banks. “Banks will have to be careful in verifying the permanent address. It will slightly increase the requirement of verification.”
The banking regulator has suggested that banks verify the local address through ‘positive confirmation’ such as acknowledgment of receipt of letter, cheque books, ATM cards, telephonic conversation; visits; etc.
“In the event of change in this address due to relocation or any other reason, customers may intimate the new address for correspondence to the bank within two weeks of such a change,” RBI said. Banks have been asked by the regulator to revise its own KYC norms accordingly.
Murali Natarajan, MD & CEO, DCB said that the banks will have to carefully look at the operational part. “The process of how a bank will verify the address will need to be deliberated and finalized as the genuine of the address given will need to be verified carefully.”
The move is a departure from the earlier RBI mandate which said if the address indicated on the document submitted for identity proof differs from the current address mentioned in the account opening form, a separate proof of address should be obtained.
In a communication to banks, the regulator said only oneaddress proof – either permanent or current – will be required to open a bank account. In case the address mentioned as per ‘proof of address’ undergoes a change, fresh proof of address has to be submitted to the branch within six months.
“RBI has been receiving representations/references from various quarters’ especially migrant workers, transferred employees, etc. regarding problems faced in submitting a proof of current/permanent address while opening a bank account,” a statement from the regulator said explaining the rationale for the move.
The central bank said that if address proof furnished by the customer is not the local address or address where the customer is currently residing, the bank will a declaration of the local address on which all correspondence will be made by the bank with the customer.
“No proof is required to be submitted for such address for correspondence/local address,” RBI clarified.
R K Bansal, Executive Director of IDBI Bank said that though this is a step ahead in financial inclusion, it may pose some operational challenges initially for the banks. “Banks will have to be careful in verifying the permanent address. It will slightly increase the requirement of verification.”
The banking regulator has suggested that banks verify the local address through ‘positive confirmation’ such as acknowledgment of receipt of letter, cheque books, ATM cards, telephonic conversation; visits; etc.
“In the event of change in this address due to relocation or any other reason, customers may intimate the new address for correspondence to the bank within two weeks of such a change,” RBI said. Banks have been asked by the regulator to revise its own KYC norms accordingly.
Murali Natarajan, MD & CEO, DCB said that the banks will have to carefully look at the operational part. “The process of how a bank will verify the address will need to be deliberated and finalized as the genuine of the address given will need to be verified carefully.”
The move is a departure from the earlier RBI mandate which said if the address indicated on the document submitted for identity proof differs from the current address mentioned in the account opening form, a separate proof of address should be obtained.
http://www.business-standard.com/article/finance/now-you-can-open-bank-account-with-permanent-address-as-proof-114060900869_1.html
Q10)- What type of responsibilities you got after you become po after clerk ??
Q10)- What type of responsibilities you got after you become po after clerk ??
After becoming a PO, one has to get the work done
by clerks working and also carry out instructions given by the Branch Manager. Assist him in day to day working of the
branch in respect of deposit, advances and house keeping. Help branch management in recovery of NPAs,
deposit mobilisation and in tuning up customer service
Q11)-if you want to open 100 current account at once ,then what should you do ??
Q11)-if you want to open 100 current account at once ,then what should you do ??
If more current accounts have to be opened then we
should visit business localities—shop owners, factories etc. and canvass. Also request our existing customers to
introduce new current account parties.
Q12)-documents required by a company to open a current account ??
Q12)-documents required by a company to open a current account ??
1.
Memorandum and Articles of Association
2. Certificate of Incorporation
3. Certificate of Incorporation
4. Resolution passed in the Board meeting for opening of bank account
detailing persons authorised to open bank account
5.
Bank’s opening form with signature of authorised
persons.
Q13)-
Q13)-
if you are made PO and given all you need for
increasing the profitability of bank in your area??
Ans.
Increase the advance portfolio.
Increase non-interest income like commission on guarantees. Reduce
avoidable expenses, if any.
Q14)- you can become PO from clerk through internal promotion ,then why should we hire you instead of a jobless person ??
Ans. I have knowledge relating to bank functioning
. Internal promotion in Bank may take a
long time.
Q15)-A software engineer has developed a 'Software for a bank' and he needs a loan, what will he keep as security with the bank.??
Q15)-A software engineer has developed a 'Software for a bank' and he needs a loan, what will he keep as security with the bank.??
Ans. Bank can
ask for security of immovable property, if any.
Also rely on his past performance and work orders.
Q16)- what is current account deficit ?? what items/based on what items we decide current account deficit ??
Q17)- rbi's clean note policy ??
Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India, exhorted the banks to implement the Reserve Bank's instructions issued from November 2001 to do away with stapling of note packets and to introduce banding the packets with paper/polythene bands so that the life of the currency notes is increased. The Deputy Governor took a meeting of Chief Executives of public sector banks and other banks having currency chests in Delhi today to discuss matters connected with implementing the Reserve Bank of India's Clean Note Policy. The objective of the Reserve Bank's Clean Note Policy is to give the citizens good quality currency notes and coins while the soiled notes are withdrawn out of circulation. The Reserve Bank has also instructed the banks to issue only good quality clean notes to the public and refrain from recycling the soiled notes received by them over their counters.
Q16)- what is current account deficit ?? what items/based on what items we decide current account deficit ??
Q17)- rbi's clean note policy ??
Shri Vepa Kamesam, Deputy Governor, Reserve Bank of India, exhorted the banks to implement the Reserve Bank's instructions issued from November 2001 to do away with stapling of note packets and to introduce banding the packets with paper/polythene bands so that the life of the currency notes is increased. The Deputy Governor took a meeting of Chief Executives of public sector banks and other banks having currency chests in Delhi today to discuss matters connected with implementing the Reserve Bank of India's Clean Note Policy. The objective of the Reserve Bank's Clean Note Policy is to give the citizens good quality currency notes and coins while the soiled notes are withdrawn out of circulation. The Reserve Bank has also instructed the banks to issue only good quality clean notes to the public and refrain from recycling the soiled notes received by them over their counters.
Q18)- if there
is a lady clerk with you and there are lot of customers at her counter and they
are yelling at her for working slow .Then what should you do ??
Ans. Find out
from her whether you can extend any help and if so carry out the same
willingly.
Q19)- sir i have seen that a lady clerk at my branch daily goes to clearing house for cheque clearing ?? not only my bank branch ,other banks too in that locality follow the same procedure. Then what about cheque truncation system ??Why they still following old procedure ?? why they are not following RBI guidelines ??
Q19)- sir i have seen that a lady clerk at my branch daily goes to clearing house for cheque clearing ?? not only my bank branch ,other banks too in that locality follow the same procedure. Then what about cheque truncation system ??Why they still following old procedure ?? why they are not following RBI guidelines ??
Ans.
Check from her what is she doing in the clearing house. May be the presence of a staff in clearing
house is required for facilitating clearing completion. Check up from her.
Post a Comment