Bank Interview Questions

Q:

What is Demat Account ?

Answer

The way in which a bank keeps money in a deposit account in the same way the Depository company converts share certificates into electronic form and keep them in a Demat account.


 

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Q:

What is the difference between cheque and Demand Draft?

Answer

A cheque is basically issued by an individual but a draft is issued by a bank. In a demand draft you have to pay before issuing while a check is withdrawn from the account.

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Q:

What is CRR rate?

Answer

CRR or Cash Reverse Ratio is the amount of money that a commercial bank has to keep with the Reserve Bank of India. If the bank increase CRR then the amount with RBI comes down and vice-versa.

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Q:

The total sum of the goods and services produced in a country in a year, minus depreciation is called as ________.

A) Net Domestic Product B) Gross National Income
C) Gross Domestic Product D) Net National Product
 
Answer & Explanation Answer: A) Net Domestic Product

Explanation:

Gross Domestic Product : 

It is the total value of all final goods and services produced within the boundary of country during the given period of time. 

Gross National Product :

It is the total value of the total output or production of final goods and services produced by the nationals of a country during a given period of time. 

Gross National Income : 

It is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP) plus factor incomes earned by foreign residents, minus income earned in the domestic economy by non-residents.

Net National Product :

The total value of goods produced and services provided in a country during one year, after depreciation of capital goods has been allowed for.

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Filed Under: Bank Interview - Accounting and Finance
Exam Prep: Bank Exams , CAT
Job Role: Bank Clerk , Bank PO

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Q:

What ACH stands for?

Answer

ACH stands for Automated Clearing House, which is an electronic transfer of funds between banks or financial institutions.


 

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