Bank Interview Questions

Q:

The accounting software Tally was developed by

A) Wipro B) TCS
C) HCL D) Infosys
 
Answer & Explanation Answer: B) TCS

Explanation:

Tally is one of the best business accounting software for accounting, inventory, payroll. It is economical and one of the most popular ERP software solutions available in the industry.

Tally, an accounting software was developed by the multinational company TCS - Tata Consultancy Services.

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Q:

Bad loans in banking terminology are generally known as

A) NPA's B) Prime loans
C) BPO's D) Prime Assets
 
Answer & Explanation Answer: A) NPA's

Explanation:

Bad loans in banking terminology are generally known as NPA's. A Non - performing Asset (NPA) is defined as a credit facility in respect of which the interest and installment of principal have remained 'past due' for a specified period of time.

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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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Q:

As per the provisions of Section 12 of the Banking Regulation Act, 1949, the minimum ratio between authorized, subscribed and paid-up capital of a banking company should be

A) 2 : 2 : 1 B) 4 : 2 : 1
C) 2 : 1 : 4 D) 1 : 1 : 1
 
Answer & Explanation Answer: B) 4 : 2 : 1

Explanation:

As per the provisions of Section 12 of the Banking Regulation Act, 1949, the minimum ratio should be 4:2:1.

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Q:

Which of the following is the oldest Joint Stock Bank of India  ?

A) Patiala Bank B) Punjab National Bank
C) Bank of India D) Allahabad Bank
 
Answer & Explanation Answer: D) Allahabad Bank

Explanation:

Oldest Joint Stock bank of India was Bank of Upper India that was established in 1863. But this bank failed in 1913. India's Oldest Joint Stock Bank which is still working is Allahabad Bank. It is also known as India's oldest public sector bank.

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Q:

What is ‘Crossed Cheque’ ?

Answer

A crossed cheque indicates the amount should be deposited into the payees account and cannot be cashed by the bank over the counter. Here in the image, number#2, you can see two cross-lines on the left side corner of the cheque that indicates crossed cheque.


 

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Q:

Which payment method typically charges the highest interest rates?

A) Credit cards B) Payday loans
C) Cashier's checks D) Pre-paid cards
 
Answer & Explanation Answer: B) Payday loans

Explanation:

Both Credit cards and Payday loans payment methods typically charges the highest interest rates. When compared Payday loans seems to charge a little bit higher interest rates than Credit Cards interest rates.

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Q:

In which year, the first bank of India "Bank of Hindustan" was established ?

A) 1677 B) 1770
C) 1796 D) 1831
 
Answer & Explanation Answer: B) 1770

Explanation:

Among the first banks were the Bank of Hindustan, which was established in 1770 and liquidated in 1829-32.

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