Interview Questions.

Question 1. How Does A Bc Function?

Answer :

Financial Inclusion is the process of making sure get admission to to mainstream monetary offerings and timely and good enough credit score to all excluded human beings susceptible companies such as weaker sections and low earnings agencies at an low-priced cost.

Question 2. Why Should We Have Financial Inclusion?

Answer :

Major sections of the Indian Economy do not have get admission to to formal banking offerings. To bring them beneath the banking purview and offer them banking facilities. Financial inclusion initiatives were beneath taken considering the fact that 2005-06.

Bring the excluded section of the Society in the banking purview might enable banks as financial intermediaries to make contributions to economic increase via mobilization and allocation of credits closer to diverse mission financing, thereby offering households, corporations to gain their monetary purpose.

Customer Relationship Management Interview Questions
Question three. What Are The Challenges Of Financial Inclusion?

Answer :

The demanding situations of Financial Inclusion : Poor infrastructure and telecom connectivity in rural regions Lack of financial literacy Availability of required documents for banking activities Limited era adoption and knowledge a few of the atmosphere partners Lack of neighborhood aid for scalability of banking services

Question 4. What Is Saving?

Answer :

When profits is more than prices, then we have surplus money referred to as financial savings.

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Question 5. Why Should One Save?

Answer :

We ought to save frequently so that it may be used to satisfy prices / exigencies for training, marriage, purchasing farm seeds, purchasing personal house, beginning, illness, accident, loss of life, herbal calamity, antique age, and so forth. During the emergencies most effective financial savings should assist.

Financial Management Interview Questions
Question 6. Where To Save?

Answer :

The money is specifically saved at domestic within the Gu1lak. But we'd constantly be involved about its safety. Sometime it may get stolen or we can be tempted to apply the cash. Also cash saved at home does now not boom. Thus the money will be stored in a financial institution.

Question 7. Why Save In A Bank?

Answer :

Money saved in a financial institution is secure, secure and depended on upon.

Financial Management Tutorial Modern Banking Interview Questions
Question eight. What Are The Advantages Of Having A Bank Account?

Answer :

One can open savings, routine / fixed deposit accounts. Banks offer loans and lots of other beneficial services. The wages / revenue drawn may be without delay credited to the financial institution account. All social advantages like MGNREGA wages, pensions, and so forth. May be without delay credited to bank account thru EBT. The money saved with the financial institution can be deposited or withdrawn at comfort. Banks do not fee any price for depositing cash however will pay hobby at the cash deposited.

Besides a bank account gives us an identification that's identified with the aid of other government groups.

The hobby charged by means of the financial institution is tons much less than the hobby charged via the money lender (Sahukar).

Question 9. What Is A Bsbda Account?

Answer :

A BSBDA account is Basic Savings Bank Deposit Account which can be opened with simplified KYC file and additionally with nil balance.

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Question 10. What Are The Features Of A Bsbda?

Answer :

Basic Savings Bank Deposit Account is opened on the idea of simplified KYC norms. Banks could no longer fee price for deposit of cash any variety of instances. In addition, banks might now not fee for four withdrawals all through a month. The purchaser would be supplied with a Passbook and an ATM card with none price. The account can be used for day after day desires like deposit, withdrawal, remittances, direct credit score of social advantages, and so on.

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Question 11. What Is Financial Planning?

Answer :

Financial Planning is to assist individuals to use their resources against the needs successfully in short term and attain their long-time period economic goals thru investment, asset allocation, danger control, retirement making plans, and so on.

Finance Interview Questions
Question 12. How Does It Help The Customer?

Answer :

It will help the consumer to control his financial assets in addition to to recognise the unique avenues of investments, liquidity preference, hazard tolerance degree vis-Ã -vis threat mitigation and so on. To attain the economic intention.

Customer Relationship Management Interview Questions
Question 13. What Are The Types Of Loans Offered By The Banks?

Answer :

Banks give diverse sorts of loans along with brief term loans, long term loans, overdrafts and working capital and so forth. For agriculture and allied sports, business, production units , non-public mortgage, housing loans, education loans, commercial enterprise loans, etc. To fulfill the requirements of the clients.

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Question 14. What Is Ssa?

Answer :

SSA is a Sub Service Area underneath Lead bank scheme Service Area Approach under which villages are diagnosed and assigned to financial institution branches primarily based on their proximity and contiguity.Sub Service Area is a cluster of multiple village wherein up to one thousand to 1500 households are introduced underneath such cluster for providing banking offerings

Question 15. What Are The Products Offered Through The Bc Channel?

Answer :

The following products are offered thru the BC Channel -

Small Savings Accounts Fixed Deposit and Recurring Deposit with low minimum deposits Remittance to any BC customer Micro Credit General Insurance

Banking Interview Questions
Question sixteen. What Are The Functions Of Bc?

Answer :

BCs are permitted to carry out a spread of activities which include identification of debtors, attend to collection of small cost deposit, disbursal of small price credit score, recovery of important / collection of interest, sale of micro coverage/ mutual fund merchandise/ pension products/ other 0.33 celebration merchandise and receipt and transport of small fee remittances/ other payment gadgets, creating attention approximately financial savings and different products, schooling and advice on coping with cash and debt counseling, etc.

Question 17. What Is A Business Correspondents (bc)?

Answer :

Business Correspondents are retail sellers engaged by way of banks for imparting banking offerings at places other than a bank branch/ATM. Basically, BCs enable a financial institution to enlarge its outreach and provide limited variety of banking offerings at low value. BCs, are an integral part of a commercial enterprise method for attaining greater monetary inclusion.

Banking Operations Interview Questions
Question 18. What Would Be The Features Of The Accounts Opened?

Answer :

Savings Bank bills with 0 balance might be opened and ATM/Debit (RuPay) playing cards could be issued to the account holder.

Financial Management Interview Questions
Question 19. Why Should We Repay The Loan?

Answer :

The banks use depositors' cash for lending. If the mortgage is not repaid, it'd have an effect on the bank's ability to repay the depositors' cash in time. This would also affect the banks capability to lend to borrowers. In case the loans aren't repaid on time financial institution should take ownership of the security supplied as assure for the mortgage and may initiate felony court cases for improving the mortgage quantity together with the hobby.