Syndicate Bank Interview Questions
In any job selection is incomplete without an interview session with the HR heads of that organization. So those who are preparing for Syndicate Bank Interview for the post of PO (PGDBF), Clerk, SO they can check Syndicate Bank Interview Questions & Answers below.
Syndicate bank is a leading public sector bank in India. The Bank recruits every year thousand of employees as a probationary officers, clerks, specialist officers, advisors, consultants, security officers, law officers, generalist cadre officers.
Mostly Asked Syndicate bank Interview Questions with Answers
Aspirants, who want to prepare well for Syndicate Bank Interview, they must go through the frequently asked Syndicate Bank Interview Questions. Following Syndicate Bank Interview Questions & Answers will helpful for you, if you want to clear the Bank Interview.
Here on this page of recruitmentresult.com is given Syndicate Bank Interview Questions & Answers to the bank job aspirants for giving idea on interview questions. It may be helpful for those who prepares for Pos, clerks and other officer cadre.
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Syndicate Bank Interview Questions
Syndicate Bank conducts written Exam to recruit the eligible applicants. A large number of aspirants can take part in this exam. After the exam, Bank organizes an Interview for the selection of talented applicants.
Job Seekers who are going to appear in the Interview Round of Syndicate Bank, they will find some questions and answers which are asked in Interview at below section of this page
Syndicate Bank PO (PGDBF) Interview Questions & Answers
Question1: Where was the Head Quarters of Syndicate Bank located?
Answer: Syndicate Bank Head Office Post Box No.1, MANIPAL 576 104 (Udupi Dist), Karnataka, INDIA
Question2 Who is the Chairman of Syndicate Bank?
Answer: Shri Basant Seth, Chairman & Managing Director of Syndicate Bank
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Question3: When did the bank came into existence?
Answer: Syndicate Bank was established in 1925 in Udupi.karnataka
Question4: What was the Syndicate bank initial name?
Answer: On 10.11.1925, the business of the Bank commenced in Udupi with the name “Canara Industrial and Banking Syndicate Ltd., a joint Stock Company with just one employee. Name of the Bank changed from “Canara Industrial &Banking syndicate Ltd.” to “Syndicate Bank Limited”. Head Office was shifted to Manipal on 19.4.1964.
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Question5: What are the primary functions of a commercial bank?
Answer: The primary functions of a commercial bank include:
- accepting deposits; and
- granting loans and advances
Question6: Can you explain the reforms that taken place in the Indian banking industry?
Answer: The Narasimham Committee laid the foundation for the reformation of the Indian banking sector. Constituted in 1991, the Committee submitted two reports, in 1992 and 1998, which laid significant thrust on enhancing the efficiency and viability of the banking sector.
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Question7: What are the functions of Reserve Bank of India?
Answer: Mainly the functions of RBI are classified as follows:
- Bank of Issue
- Banker to Government
- Bankers’ Bank and Lender of the Last Resort
- Controller of Credit
- Custodian of Foreign Reserves
- Supervisory functions
- Promotional functions
Question8: What is Bank rate?
Answer: A Bank rate is the interest rate that is charged by a country’s central or federal bank on loans and advances to control money supply in the economy and the banking sector.
This is typically done on a quarterly basis to control inflation and stabilize the country’s exchange rates. A fluctuation in bank rates triggers a ripple-effect as it impacts every sphere of a country’s economy.
For instance, the prices in stock markets tend to react to interest rate changes. A change in bank rates affects customers as it influences prime interest rates for personal loans.
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Question9: What is Cash Reserve Ratio – CRR?
Answer: The Cash Reserve Ratio (CRR) refers to the liquid cash that banks have to maintain with the Reserve Bank of India (RBI) as a certain percentage of their demand and time liabilities. For example if the CRR is 10% then a bank with net demand and time deposits of Rs 1,00,000 will have to deposit Rs 10,000 with the RBI as liquid cash.
Question10: What is Statutory Liquidity Ratio – SLR?
Answer: Statutory Liquidity Ratio refers to the amount that the commercial banks require to maintain in the form of cash, or gold or govt. approved securities before providing credit to the customers. Statutory Liquidity Ratio is determined and maintained by the Reserve Bank of India in order to control the expansion of bank credit.
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Syndicate Bank Clerk Interview Questions & Answers
Question1: What is Call money rate?
Answer: It is the rate of interest charged by the banks for temporary borrows among banks Ledger
Question2: What is Tender Money?
Answer: Currency issued by RBI Optional Money – Cheques, DDs, Bankers Cheques
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Question3: What is Plastic Money?
Answer: Credit card, Debit card Credit card is ready made overdraft in e-form for buying goods and services by the card holder within specified limits and according to terms and conditions of the issuer Bank without having any account.
Debit card is e-Cheque which can be used within the limits of the credit in the account associated with it for financial transactions.
Question4: What is Core Banking?
Answer: Networking of Banks for providing any where any time Banking is called Core Banking.
- Merchant Bank provides capital to firms in the form of shares rather than money.
- Investment Banks tend to provide investment to firms.
- Corporate Banking looks after the needs of big firms, companies, business entities.
- Business Banking looks after needs of medium level business firms, entities, individuals.
- Retail banking focuses to provide services to individuals.
- Private banking focuses to provide services to high net worth individuals.
- Lead Banking focuses on providing all type of financial services.
- Narrow Banking focuses on a particular sector like Mortgage, Auto Finance etc.
Question5: What Is Inflation?
Answer: Inflation is increase in price of products & decrease in value of money.
Question6: Difference between Repo rate and Bank rate?
Answer: The Main difference between Repo rate and Bank rate is that Repo rate is the discounting offered by the RBI on the monetary bill hold by the Banks
Question7: Difference between debit card and credit card
Answer: You should have account with a bank to get debit card. You can withdraw only the money present in your account. For example you have 1000 INR in your account then you can withdraw this much using your debit card.
You do not need to have account with bank to get credit card. You can spend certain amount of money from your credit card. The limit is called your credit limit.
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Question8: What is Para Banking?
Answer: The term Para Banking includes all the services provided by banks apart from day to day banking such as Debit cards, Credit cards, Life Insurance products, Cash Management services etc.
Question9: What is exchange rate?
Answer: An exchange rate is a basically a rate, with the help of which one country’s currency can be exchanged with the currency of another country.
Question10: What is CBS?
Answer: CBS is centralized banking system. Bank branches which are fully computerized are called CBS branches.
Syndicate Bank SO Interview Questions & Answers
Question1: What is Interest Rate?
Answer: Banks give a certain percentage of amount you deposited (called principal amount) this percentage is called interest rate. For example interest rate of 7% means Bank will pay you 7 INR per 100 INR per year. Central Bank (RBI) decides interest rates.
Question2: What is Internet Banking?
Answer2: Internet banking is a system wherein customers can conduct their transactions through the Internet. This kind of banking is also known as e-banking or online banking.
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Question3: What is white label ATM?
Answer: The white label ATM refers to ATMs owned by corporate or private operators seeking to earn a commission by banks for transactions performed by their customers e.g. INDICASH by TATA group.
Question4: What is brown label ATM?
Answer: The brown label ATM refers to the ATMs where investment, installation and maintenance is by a private operator but the license and branding is by a commercial bank.
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Question5: What is the CAD?
Answer: The term CAD stands for current account deficit and it is the difference between the imports and exports of a nation in one financial year.
Question6: What is the difference between cheque and demand draft?
Answer: Cheque is a negotiable instrument which is paid to the bearer but a demand draft is a negotiable instrument always payable on order.
Question7: What are the parts of banks’ capital?
Answer: Bank has following parts of capital:-
- Tier 1 capital: – Paid up capital (core capital) + Reserves (owners or promoters’ fund)
- Tier 2 capital: – Secondary Capital (borrowed funds) + general loss reserves + subordinated term debts + undisclosed reserves (can’t be maintained in India)
- Tier 3 capital: – Same as tier 2 capital but with a higher amount in order to face the market risks of the bank.
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Question8: Tell us something about BSBDA.
Answer: BSBDA stands for Basic Savings Bank deposit account. BSBDA is the new name for “no-frill accounts” under which anyone can open a bank account with even zero balance in it or “zero balance account”. This BSBDA is aimed at providing banking facilities to weaker section of the society and improve financial inclusion.
Question9: What is the meaning of “base rate”?
Answer: Base Rate is the minimum rate of interest which a bank has to charge from its customers and a bank can’t sanction loan on a rate below the base rate. Banks may choose any benchmark to decide on the base rate. The exceptions of base rate are:-
- Agriculture loans
- sponsored schemes
- Staff loans
- Only under the above cases, bank can lend below base rate.
- Only under the above cases, bank can lend below base rate.
Question10: We hear regularly that all bank branches are turning CBS. What is CBS?
Answer: CBS stands for CORE banking solutions under which the branches of the banks are interconnected with each other through intranet with a central database server. The CORE word in CBS stands for Centralized Online Real time Exchange.
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