Bank Interview Questions

Reconciling the bank statement monthly is an example of independent internal verification

Bank Rate is the interest rate at which the RBI allows finance to commercial banks. By Bank Rate, we mean bank can regulate the level of economic activity.

Yield to maturity is a concept for fixed rate bonds and is the internal rate of return i.e. the rate at which future flows are discounted on a compound basis to give the present value of the bond including accrued interest.

Budgetary Control is establishment of budgets and the continuous comparison of actual results with the planned results. It computes the variances and after that management takes necessary actions to maintain favorable variations, through revision of the budgets.

A commercial bank is a financial body which performs the functions of accepting deposits from the general public and giving short term loans for investment with the aim of earning profit.

Financial statements can be prepared from the Adjusted trial balance. A trial balance is a report containing list of all the general ledger accounts i.e, debits and credits contained in the ledger of a business. The types of trial balance include : Unadjusted trial balance, Adjusted trial balance and the Post- closing trial balance.

Actuary is the term which is not used in banking sector.