CloudFirst Technology Interview Questions and Answers

Operations focus on internal processes while sales focus on external revenue generation.

• Operations involve managing resources, logistics, and production processes.

• Sales involve identifying and pursuing potential customers, negotiating deals, and generating revenue.

• Operations ensure efficient and effective use of resources while sales ensure revenue growth.

• Examples of operations include supply chain management, inventory control, and quality assurance.

• Examples of sales include...read more

A public limited company is a company that offers shares to the public and has limited liability. A private limited company is a company with limited liability and restrictions on share ownership.

• Public limited companies can raise capital by selling shares to the public

• Private limited companies cannot offer shares to the public and have restrictions on share ownership

• Both types of companies have limited liability, meaning the owners are not personally liable for the company's...read more

Documents required to open a HUF account include identity proof, address proof, HUF declaration, PAN card, and passport size photographs.

• Identity proof such as Aadhar card, Voter ID, or Passport

• Address proof like Aadhar card, utility bill, or rental agreement

• HUF declaration signed by the Karta of the Hindu Undivided Family

• PAN card of the HUF

• Passport size photographs of the Karta

KYC docs required to open a current account

• Identity proof - Aadhaar card, PAN card, Passport, Voter ID card

• Address proof - Aadhaar card, Passport, Utility bills, Bank statement

• Passport size photograph

• Business proof - GST registration certificate, Trade license, etc.

• PAN card of the business entity

• KYC declaration form

Equitable mortgage is based on the principle of equity, while registered mortgage is based on registration of the mortgage deed.

• Equitable mortgage is created by deposit of title deeds with the lender, while registered mortgage is created by registration of the mortgage deed with the relevant authority.

• In equitable mortgage, the lender has a right to sell the property in case of default, while in registered mortgage, the lender has a charge over the property.

• Equitable mortgage...read more

Charges are less in equitable mortgage due to lower risk for the lender.

• Equitable mortgage relies on the borrower's good faith and does not involve transfer of title deeds.

• Since the lender has access to the property in case of default, the risk is lower.

• This lower risk leads to reduced charges for the borrower.

The RBI Act is a legislation that governs the functioning of the Reserve Bank of India.

• The RBI Act, 1934 is the primary legislation that governs the Reserve Bank of India.

• It outlines the objectives, powers, and functions of the RBI.

• The Act empowers the RBI to regulate the issue of banknotes, maintain reserves, and formulate monetary policy.

• It also establishes the structure of the RBI, including the roles of the Governor, Deputy Governors, and Central Board of Directors.

NRE and NRO accounts are types of bank accounts for non-resident Indians.

• NRE stands for Non-Resident External account, which is a rupee-denominated account that allows NRIs to transfer foreign earnings to India and earn tax-free interest.

• NRO stands for Non-Resident Ordinary account, which is a savings or current account that allows NRIs to manage their income earned in India and abroad.

• NRO accounts have taxable interest, and the account holder must pay taxes on the interest e...read more