IBPS PO INTERVIEW QUESTIONS – ANSWERS
Que: Tell me something about Prime Minister Jan-Dhan Yojana?
Ans: Pradhan Mantri Jan-Dhan Yojana (PMJDY) is National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.
An Account can be opened in any bank branch or Business Correspondent (Bank Mitr) outlet. PMJDY accounts are being opened with Zero balance. However, if the account holder wishes to get cheque-book, he/she will have to fulfill minimum balance criteria.
Que: Explain Demonetization, its effects, and challenges faced by the Indian Economy?
Ans: Demonetization is the act of stripping a currency unit of its status as legal tender.
But in simple terms demonetization means that Reserve Bank of India has withdrawn the old Rs. 500 and Rs. 1000 notes as an official mode of payment.
Que: What was the impact on India’s Growth Rate after Demonetization?
Ans: Because of Demonetization, India’s Gross Domestic Product (GDP) growth forecast for the current fiscal year decreased to 6.9% from 7.4%, and lowered its 2017-18 projection to 7.7% from 8%.
Que: Do you know about Accounts?
Ans: Accounts can be understood as a record or statement of financial expenditure and receipts relating to a particular period or purpose.
Que: What is the procedure to Withdraw or encash Fix deposits (Daily banking activities)?
Ans: Withdraw Fix Deposit is also known as Breaking of Fixed Deposit. It is done when we urgently require funds or we get better investment opportunities elsewhere. You have to follow the following procedure:
Write an Application mentioning you want to break your FD/RD.
You should mention the account number where it should get credited and the Deposit Number.
You have to fill the premature FD Breaking form available at the bank itself.
You must attach an ID proof (PAN etc).
Deposit the form in the bank.
Note:
In the case of companies with a current account, company’s seal will be required along with signatures of partners.
You will not be able to get the same interest rate offered originally. You will be getting the interest rate according to the tenure your saved your FD in the bank.
Que: Tell us about Fintech companies!
Ans: Fintech companies are those companies that use new technology and innovation to leverage available resources in order to compete in the marketplace of traditional financial institutions and intermediaries in the delivery of financial services.
Que: Do you know about E-payment?
Ans: E-payment or Electronic Payment is a financial exchange that takes place online between buyers and sellers.
Que: What does BREXIT mean?
Ans: It is a word that that has been used as a shorthand way of saying the UK leaving the EU – merging the words Britain and exit to get Brexit.
Que: You might have heard about US President Donald Trump’s Decision on banning 8 Muslim Countries Visas, creating a boundary against Mexico, Banning H1B1 and L1 Visas. According to you what would be the effects of such decisions?
Ans: Donald Trump has taken the decision keeping in view the safety and national security.
The order bars the entry of any refugee who is awaiting resettlement in the U.S.
The decision prohibits all Syrian refugees from entering the U.S. until further notice.
It bans the citizens of seven majority Muslim countries; Iraq, Iran, Syria, Somalia, Sudan, Libya, and Yemen from entering the U.S. in any visa category.
Anyone with U.S. citizenship whether that person in natural-born or naturalized is not affected.
Que: What are the Pros and Cons of Indian Government’s decision to combine the Rail Budget and Economic Budget?
Ans: It will be favorable because:
There will be less wastage of time when a new policy is to be initiated and implemented. Keeping them separate resulted in a lot of drawbacks and hindrances.
There will be less of political pressure on the Railway budget and the centre will have the ultimate hold of the decision making.
The railways will be free of this now and the same fund could now be used in better ways for development the conditions of Indian railways.
Unfavourable because:
A fall in the annual budget that will be something unusual for the railways and they might not react supportively to that.
After the merging, there will a complete end to any future chances of privatization.
Que: Surgical Attacks on Pakistan – was it a good move?
Ans: Surgical strikes was considered the best option to deal with the threat as the option of surgical strikes was taken in the wake of an increase in infiltration bids. Terrorists had begun gathering in large numbers along the LoC with the objective of crossing the border and targeting locations in Jammu and Kashmir, as well as other metros.
Que: What you want to say about India’s relations with China?
Ans: This question needs a trick answer. Be cautious while answering. Don’t use any kind of offensive language. The love for your country should not disrespect another country’s integrity.
Share your thoughts calmly and in a healthy manner.
Que: Tell something about the Merger of 2 of biggest Telecom Companies – Vodafone and Idea!
Ans: The merger could create India’s largest telecom operator and the country’s largest player with a revenue market share of 43% leaving Bharti Airtel in the second slot with a share of 33%.
This could put an end to the debilitating tariff war and boost the industry’s profitability.
Que: What are the reasons behind the merger of SBI with its 5 associate banks and Bharatiya Mahila Bank.
Ans: The proposal to merge State Bank of India (SBI) with its five associate banks; State Bank of Bikaner & Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Patiala(SBP), State Bank of Hyderabad (SBH), and Bharatiya Mahila Bank (BMB), will create a much bigger entity in the Indian banking sector and enable the giant to make one step closer to the list of among the top global banks. The following achievements can be seen: –
As per the merger proposal, SBBJ shareholders will get 28 shares of SBI (Rs 1 each) for every 10 shares (Rs 10 each).
SBM and SBT shareholders will get 22 shares of SBI for every 10 shares.
In the case of Bharatiya Mahila Bank, 4,42,31,510 shares of SBI will be swapped for every 100 crores of Rs 10 each.
SBI will have an asset base of Rs 37 trillion (Rs 37 lakh crore) or over $555 billion, with 22,500 branches and 58,000 ATMs. It will have over 50 crore customers.
SBI’s market share will increase nearly to 22 percent from 17 percent.
