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IBPS Common Interview Questions asked in Bank PO/Specialist Officer/RRB

IBPS Common Interview Questions

After qualifying IBPS Written Exam, shortlisted aspirants have to face most important round that is Face to Face Interview. The most important step is to prepare for IBPS Common Interview Questions asked in Bank PO/Specialist Officer/RRB.

So here the team of is presenting some general as well as most important questions that will be asked during your Interview Round. So those who will be shortlisted for this round must look at below provided question and answers.

IBPS Interview Questions

IBPS Interviews will decide the future of its aspirants and lead their way to their dreams. As the competition is relatively high from the preceding years, you have to score virtuous marks to see your name in the merit list of the combined scores.

We are also providing some Previous Year IBPS Interview Questions for your convenience. You may expect the same questions in your interview, so prepare them carefully.

IBPS Common Interview Questions

IBPS provides its service to all government Banks, Regional Rural Banks like SBI, RBI, NABARD and SIDBI which are its regular member organizations. Aspirants must check the Common Interview questions for IBPS Bank Recruitment on this page:

Question1: Nationalization of Commercial Banks in India

Answer: The Government of India issued an ordinance (‘Banking Companies (Acquisition and Transfer of Undertakings) Ordinance, 1969’) and nationalised the 14 largest commercial banks with effect from the midnight of 19 July 1969.

Question2: What is Cash Reserve Ratio (CRR)?

Answer: In India, banks are required to retain a certain percentage of their deposits as liquid cash. However, banks prefer to deposit this liquid cash with The Reserve Bank of India, which is equivalent to having cash in hand. The percentage of the deposits that should be kept aside by banks is called Cash Reserve Ratio. CRR is fixed by The Reserve Bank of India.

Must Read: Bank Interview Questions and Answers

Question3: What is Statutory Liquidity Ratio (SLR)?

Answer: At the end of every business day, banks are required to maintain a minimum ratio of their Time liabilities (when the bank has to wait to redeem their liabilities) and Net Demand (when bank can withdraw money from these accounts immediately) in the form of liquid assets like gold, cash and government securities. The ratio of time liabilities and liquid assets in demand is called Statutory Liquidity Ratio or SLR.

Question4:  What is Bank Rate?

Answer: Bank Rate is the rate of interest charged by The Central Bank of India against loans offered to commercial banks. Bank rate is usually higher than repo rate. Unlike repo rate, bank rate directly affects the end user, in this case the customer, as high bank rates mean high lending rates. Also known as “Discount Rate”, bank rate is a powerful tool used by the RBI to control liquidity and money supply in the market.

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Question 5:  What is Liquidity adjustment facility (LAF)?

Answer: Liquidity adjustment facility (LAF) is a monetary policy to which allows banks borrow money through repurchase agreements. LAF is used to aid banks in adjusting the day to day mismatches in liquidity. LAF helps banks to quickly borrow money in case of any emergency or for adjusting in their SLR/CRR requirements.

Question 6: What is Repo Rate?

Answer: The discount rate at which a central bank repurchases government securities from the commercial banks, depending on the level of money supply it decides to maintain in the country’s monetary system.

Question 7:  What is Reverse Repo Rate?

Answer: Reverse repo rate is the rate at which the central bank of a country (Reserve Bank of India in case of India) borrows money from commercial banks within the country. It is a monetary policy instrument which can be used to control the money supply in the country.

Question 8:  What are Open market operations?

Answer: Open Market Operations refer to the purchase and sale of the Government securities (G-Secs) by RBI from / to market. The objective of Open Market Operations is to adjust the rupee liquidity conditions in the economy on a durable basis. When RBI sells government security in the markets, the banks purchase them.

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Question 9: What is a Commercial paper?

Answer: A commercial paper in India is the monetary instrument issued in the form of promissory note. It acts as the debt instrument to be used by large corporate companies for borrowing short-term monetary funds in the money market. An introduction of Commercial Paper in Indian money market is an innovation in the Financial system of India.

Question10: What are the different services provided by commercial banks?

Answer: Different services provided by commercial banks are as follows:

(a) Accepting Deposit
(b) Advancing Of Loans
(c) Discounting Of Bill Of Exchange
(d) Cheque Payment
(e) Remittance
(f) Collection And Payment Of Credit Instruments
(g) Foreign Currency Exchange
(h) Consultancy
(i) Bank Guarantee

Question 11:  What are Financial markets?

Answer: A financial market is a market in which people trade financial securities, commodities, and other fungible items of value at low transaction costs and at prices that reflect supply and demand. Securities include stocks and bonds, and commodities include precious metals or agricultural products.

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Question 12:  What is Inflation?

Answer: In economics, inflation is a sustained increase in the general price level of goods and services in an economy over a period of time.[1] When the price level rises, each unit of currency buys fewer goods and services; consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy.

Question 13: What is Deflation?

Answer: In economics, deflation is a decrease in the general price level of goods and services. Deflation occurs when the inflation rate falls below 0% (a negative inflation rate). Inflation reduces the real value of money over time; conversely, deflation increases the real value of money – the currency of a national or regional economy. This allows one to buy more goods and services than before with the same amount of money.

Question 14: What is a Saving Account?

Answer: A savings account is one of the simplest types of bank accounts. It allows you to store cash securely and earn interest on your money.

Question 15: What is a Current Account?

Answer: A current account is a type of deposit account that caters to professionals and businessmen alike. Dealing largely with liquid deposits, this product allows for withdrawal of funds and checks being written against the balance and does not limit the number of transactions in a day.

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Question 16:  What is Public Provident Fund (PPF)?

Answer: Public Provident Fund (PPF) scheme is a popular long term investment option backed by Government of India which offers safety with attractive interest rate and returns that are fully exempted from Tax .Investors can invest minimum Rs. 500 to maximum Rs. 1,50,000 in one financial year and can get the facilities such as loan, withdrawal and extension of account.

Question 17:  What are the different Investments under 80(C)?

Answer: Different Investments under 80(C) are listed below:

1. Fixed deposit (5 years)
2. PPF
3. Equity mutual funds
5. EPF and VPF
6. NSCs (National Saving Certificate)
7. ULIPs
8. NPS (Pension plans)
9. Life insurance

Question 18:  What are the different functions of NABARD (National Bank of Agriculture and Rural Developments)

Answer: NABARD is a Development Bank with a mandate for providing and regulating credit and other facilities for the promotion and development of agriculture, small-scale industries, cottage and village industries, handicrafts and other rural crafts and other allied economic activities in rural areas with a view to promoting integrated rural development and securing prosperity of rural areas.

Question19:  Role of RBI (Reserve Bank of India)

Answer: Role of RBI (Reserve Bank of India) are as follows:

1. Government’s banker and performs banking functions for the central and the state
2. governments.
3. Bankers of banks
4. Maintain liquidity in the economy
5. Regulator of country’s financial system
6. Regulates and facilitates foreign trade advisor to the Government of India
7. Issue currency notes

Question20: What is Fiscal Policy?

Answer: Fiscal policy is a type of macroeconomic policy by which our government makes a strategic change to its spending and tax rates to influence a nation’s economy. Just like Monetary Policy, Fiscal Policy is another tool by which country’s economic conditions can be controlled.

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General Interview Questions asked in Bank PO/Specialist Officer/RRB

Every interview starts with these questions. Remember “FIRST IMPRESSION IS LAST IMPRESSION”. Those applicants who have qualified the bank exam and preparation for the Interview they can get the IBPS Common Interview Questions with Answers on this web page.

Question1. Tell us about yourself?

  • Starts from your name
  • Your place information
  • Your Education qualification
  • Job experience if you have
  • Your Family details in short

Question2. What is your Strength?

  • Adaptability
  • Hardworking
  • Honest
  • Self motivated
  • Fast decision making
  • Optimistic
  • Persistence

Sample Answer- I am easily adaptable to every situation. I am hardworking and self motivated.
Note- in some case interviewer ask you to give example to prove this so be ready with example.

Read Also: What Are Your Strength and Weakness?

Question3. What is your weakness?

  • Straight forward attitude
  • Impatient
  • More talkative
  • Trust People very quickly
  • To speak lie is difficult for me.
  • Gets nervous when talk to strangers
  • Take decisions very quickly

Sample Answer-I am very talkative and trust people very easily.

Question 4. Why you want to join Bank?

  • I want to join bank because banking is a very fast growing sector which provide me ample growth opportunity.
  • Banking Sector offers tremendous growth opportunities. Candidates reach from Trainee Officer Level to a General Manager level.
  • Bank Employees have respect in society, since there is direct interaction with the customers.
  • One of the major reasons is Job security, especially with Public Sector Banks.
  • Banks provide a challenging working environment; anyone who loves to achieve work goals will definitely like a Banking Job.
  • Banking sector is a sunrise sector of Indian economy. It is one of the fastest growing sectors as banks are expanding their reach across the geography. As probationary Officer Role is a multi-dimensional role, it offers unparalleled opportunities for learning and growth. Many of the chairmen of the PSU Banks had joined the bank as Probationary officers only.

Question5. Why you want to change your Field?

  • This question applicable to students who have done B.pharma, etc.
  • Better growth opportunity
  • Want to work in government sector
  • limited Government Job in my field

Sample answer- I want to do a government job and in my field limited government jobs available, so i want to change my field.

Question6. Why should we Select/ hire you? (Especially for RRB’s)

  • Share your knowledge
  • skills related to job
  • career goal

Sample Answer – My education qualification and skills make me suitable candidate for this job. Bank job need good public handling and I can easily adjust in any situation, so I can handle customers well.

Question7. Why you want to join our bank? (For RRB’s)

  • Benefits of bank
  • Experience of present employer
  • Employee friendly

Sample Answer- I have heard your Bank is employee friendly and provide good growth opportunity

Question8. Why you want to change your Present job? (in case you are working)

  • Growth opportunity
  • job security

Sample Answer- Sir, Currently I am working in private sector. For job safety and security and better growth opportunity I want to join government sector.

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Significant Note:

After these basic questions, Questions related with Banking Knowledge and current affairs starts. We hope that you are satisfied with the IBPS Common Interview Questions and Answers provided on this page.

You can subscribe to our free mail service or type your comment in below comment box for having any query or doubts related to this post. Our experts will try to solve your queries.

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