Commonly asked Bank Interview questions and Their Answers

As we all are aware, Common Interviews process PO CWE Phase IV is over and the process for Clerical CWE Phase IV is set to be held in February 2015. By now, all the candidates have received their Interview call letters and Must be knowing their Interview centres.

A few things are meant to be kept in mind by all the shortlisted candidates looking forward for this Interview Process are -

• Reach On Time
  • Candidate Must reach well before time. Make sure to reach 2 hours before commencement of Interviews as mentioned in the admit card as there are a few formalities to be completed before you may appear before the interview panel.
• Bring all Original Documents
  • Make sure to bring all the Original documents for verification purpose. Please note that you will not be allowed to appear in the Interview if Original documents of 10th - Graduation are not bought along.
  • In case you don't have the Original degree of graduation - Then bring marksheets of all the semesters/ years and you will have to sign an Undertaking for submitting the degree at the time of Joining any of the allotted banks if you succeed in the selection process. But all other original documents should be kept with you.
• Be prepared to wait 2 - 3 Hours.

The Interview

Interview will begin and you shall face 3 - 4 senior bankers that might be from IBPS or any of the participating banks. Relax and take your seat with a smile on your face.

Keep in mind that they know that you are capable of holding this job as you have already cleared the written test. Now all the matter comes down to just one thing - Do you really want to work in a Bank ??. All the Interview will revolve around this one question and you have to make them feel that yes you really want to be a bank clerk and are not motivated by any other external factor (Even if you are :) ).

Okay, now the first question will be - Tell us something about yourself ??.

Go through this article and sample questions and answers to gain some really helpful and proven tips that will help you succeed.

1. Tell us Something about Yourself ??
   • Here, Do not read all the data in your resume and also do not go too deep about telling about your parents, village and grand parents etc. For example, avoid answers like- "My village name is XYZ which come under XYZ District. My school name was XYZ school etc....."
   • How to Answer -
     • Be natural and calm. Speak Slowly and Tell them about your strengths, achievements and passions etc. This question should not take more than 3 Minutes to be answered. Always Keep in mind that they know that you are capable as you have already cleared the written test, now you have to show them your suitability and genuine desire for this job and make the interviewer feel that you are the right person as a bank clerk.
2. What are your Strengths and Weaknesses ?
   • This is again a very commonly asked question. The Interviewer here wants to analyze how much you know of yourself.
   • How to Answer -
     • You should mention your strengths that are beneficial for them. For example, It should not be like "I am a very good cricket Player", Rather you should focus on strengths that are related to that job. For example, "I have good communication skills" Or "I Like Interacting with people" Or "I am good at a analyzing Problems and working in a team to find out appropriate solutions".

       Weaknesses :- You should not say that you do not have any Weakness. It shows that either you are Overconfident or have not assessed yourself and don't want to talk about it.

       Similarly do not say phrases like "I am short tempered" Or "I get angry very soon and can do anything in anger". Rather you should genuinely mention the areas that are related to your professional life and you are trying to get better at them. For exampl, "I Would want to get better at managing time and increasing my productivity"

3. Where do you see yourself after five years from now?
   • Here The interviewer wants to know your knowledge about career path in the job and what is your level of commitment to the job they are offering.
   • How to Answer
     • Answe it realistically and do not say - "I will be in your seat after five years". Rather you should answer in such a way that ensures that you are interested in making a long-term commitment towards the bank job and will have a long term and mutually beneficial association with them.
     • For example "I am interested in making a long-term commitment to my next position of Officers Of Higher level. I realize my skills will really help me serve the bank and attract more customers and business. I will do my job to the best of my abilities. I am confident that here i will have opportunities to advance my skills and provide best of my services to the organization.
4. If you are working, why you want to leave your current job ?
   • Remember not to criticize your Current Job or company here.
   • How to Answer -
     • I am really excited and attracted by the social and financial security in the banking sector and moreover, the high recent growth opportunities in banking really motivated me to opt for it as my career.
5. If you have done B.Tech. or any other technical course then this question will surely be asked to you - Why a low paying Bank Clerk Job after B.Tech. when you can get more salaries in Private sector working as an engineer ?
   • How to Answer
     • Here The interviewer wants to know your level of willingness of working in a bank.
     • Never straight away say that "I did not get a job in Private sector" or "There is lot of stress in Private jobs and government jobs are less intense and more flexible."
     • Do not answer in such a way so that the interviewer would feel that you want to avoid work and so want to quit private and join government sector.
     • Rather you should answer It realistically to show your genuine desire of working in a bank. You may say you are here due to high degree of attraction in the banking sector due to recent Positive economical changes and India's emergence as economical power.
     • Remember, You should manipulate your answer to prove that your engineering degree would be beneficial for you in interacting with people and creating more business relationships for Banks.
6. What is your father's Job Background ?
   • Here the Interviewer wants to know how stable has your father's career has been so far.
   • How to Answer -
     • Its Tricky question. Here you must indicate the Positives of your father's career and avoid mentioning the downs if any were there as it might reflect in your career and perception also towards your work. Make sure to mention clearly his job background and smoothness and stability that has been there throughout your father's career.
7. If you get a better job in Public Sector (IAS/PCS Etc.), will you leave us ?
   • How to Answer
     • I really want to join bank and if i get selected, my all energy will be directed to my growth as a banker and serve to best of my ablities. Switching to a job of same level in another industry like SSC after getting good experience in banking does not make sense to me.
     • Still, everyone likes to be in a better Postso if i get an opportunity in much higher scales like IAS, PCS then i will leave bank, otherwise i shall continue as a dedicated banker all my life.
8. Why should we Hire you as a Banker ?
   • How to Answer
     • Interviewer wants to know your suitability for the job so in this question you should tell about your Strengths and achievements so far. You should mention your strengths so that they would come to know your fitness for the job. Do not say something which is not true about you. Remember that the Interviewers are very Experienced and they will realize if you are saying truth or just trying to Outsmart them. Avoid using phrases like "This is the Best Company" or "I want to work in this field."
     • Instead, try to mention good things about you that are related to that job and this will surely prove your usefulness.
9. Answering the Puzzles type Questions!
   • Although not so common, Puzzles type questions may be asked to anyone in any Interview. Here the interviewer doesn't really want to hear exact answer from you rather they want to see if you are able to analyze the correct problem or are you just trying to hurry up without taking the time to analyze and putting some effort. They just want to see your practical approach that will be useful during you job period.
   • So If asked any puzzle type question, you should not Hurry up in telling the answer even if you know it. Even if you do not know the answer (and even can not find the answer), do not hurry up in saying NO. Rather you should draw the picture of problem on a paper(even if you know the answer) and take some time to analyze it (ask them if you do not understand it correctly). It will make them feel that you believe in analyzing the client requirement before reaching to any conclusion, which is a must.

     So you should answer these questions by taking time, drawing it and asking them for clarifications. This will surely fill the interviewer's purpose.

So by far we have covered almost all of the general questions that are asked to almost all of the candidates in Banking Interviews. Make sure that you make them feel that you want to join bank as it your inner desire, not due to the fact that you just want to escape pressure and stress of Private sector.

Now, as it is a banking Job Interview, you must be prepared to face up with some 5-10 questions related to banking and current affairs.

70% of your Interviewed is decided on the basis of the general mentioned questions and 30% is your technical knowledge of banking and current affairs.

For current affairs, stay updated to all of recent important Appointments and Summits (Our current affairs section will help you surely).

A few banking related questions that are most widely asked are -

• What are NPA (Non-Performing Assets), how can u use technical knowledge in correcting the balance sheet?
• How Can NPA be reduced ?
• What are FDI (Foreign direct investment) and FII (Foreign institutional investors) and what is the difference in these.
  
• For unemployed people, which plans are addopted by government ?
  
• RBI Governors, Deputy Governors and Current Chiefs of all Indian Important Financial Agencies.
• Headquarters of Indian Government Banks.
• Financial Inclusion and government steps for it - Jan Dhan Yojana Etc.
• What steps the Recent PM Narendra Modi Government for better ment of Indian Economy.
• How to Fight Inflation and Current Indian Scenario about Inflation.
• RBI Key Monetary Policy Rates and their Current Value.
• Difference between Bill of Exchanges and Certificate of Deposit, Cheques, Demand Drafts and other Money Market Instruments.
• Electronic Clearing of Cheques.
• Types of Bank accounts and Interest rates offered under each.
• What was the Headline in Today's Newspaper?(Main Page and Financial Page Both).
• What are functions of Banks and How does banking effect the economy of the country?
• Difference between Fiscal and Monetary Policy ?
• Number of Districts in Your and Nearby States ? Governor, Chief Minsiter and Other Ministers of Your State (Like Education, Tourism Ministers )?
• Latest Noble Prize Winners, Padam Awards Winners, Miss India, Miss World Miss Universe Etc.
• How is Future growth of commercial banks in India and any hurdles to it ?
• Banks VS NBFCs (Non Banking Finance Companies) ?
• Questions About current five year plan and Newly formed NITI Aayog.
• Direct and Indirect Taxes In India.
• Important People of India - Chief of Planning Commission and Election Commission Etc. CM and Governors of All States.
• RBI's Role in Economy.
• Important Banking Terms -
  • GAAR (General Anti - Avoidance Rule) and GST (Goods and Service Tax)
  • CAR (Capital Adequacy Ratio)
  • Balance Sheet and NPA ?
  • BASEL Norms (Basel 1,2,3)
  • Banking Regulation Act, Money Laundering, Financial Inclusion
  • SARFAESI ACT (The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act)
  • Roles of RBI, NABARD, SEBI, IRDA.
  • Bank Account Types and Rate of Interests on Them
  • CTS (Cheque Truncation System )
  • What is INFLATION ? It is good or Bad ?and how can it be controlled ?
  • What is FDI ?Is it Good or Bad ? Limit of FDI in various Sectors in India ?How is it Different From FII ?
  • What is Stock Exchange ? How many are there in India ? Number of Shares on NSE and BSE ?

Remember that although you know these terms and current affairs related to banking and common issues, yet these questions do not play a big role in determining your selection or rejection. Even if you do not know an answer, genuinely say "NO Idea Sir!" rather than wasting time and trying to fool them with random answers, It's just not worth it!

Although you should not memorize any of above sample texts and should say it in your words to convey the idea which is to prove your usefulness!!.This will surely make them believe that you are a fit for this job!!

Although we've presented comprehensive list of commonly asked questions but still the list is endless and you may be asked anything other than these. To succeed, you should keep in mind that you have to sell you professional side, show them that you are useful and you will surely be Hired!!

Read More about succeeding in Interviews:-

How to behave in an Interview - Simple Rules to follow

How to Write effective Resume?