Axis Bank Business Analyst Intern Interview Questions and Answers

Q1. Golden rule of accounting
Ans. 
The golden rule of accounting states that debit what comes in and credit what goes out.
• Debit what comes in and credit what goes out

• Helps maintain the balance in accounting records

• Used to ensure accuracy in financial transactions
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Q2. Explain requirements of LFAR
Ans. 
LFAR stands for Long Form Audit Report, which is a detailed report prepared by auditors to provide a comprehensive analysis of a company's financial statements and internal controls.
• LFAR is a regulatory requirement for banks and financial institutions in India, mandated by the Reserve Bank of India (RBI).

• It includes detailed information on the financial position of the company, compliance with regulatory requirements, ...read more
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Q1. What is the major risk associated with the banks.
Ans. 
The major risk associated with banks is credit risk.
• Credit risk is the risk of borrowers defaulting on their loans or not making payments on time.

• Banks face credit risk when lending money to individuals, businesses, or other financial institutions.

• Credit risk can lead to financial losses for banks if borrowers fail to repay their loans.

• Banks use credit analysis and risk management techniques to assess and mitigate cred...read more
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Q2. Process of Audit
Ans. 
The process of audit involves planning, executing, and reporting on the examination and evaluation of an organization's financial or operational processes.
• Planning phase involves understanding the organization's objectives, risks, and controls.

• Execution phase includes gathering evidence, testing controls, and identifying any issues or discrepancies.

• Reporting phase involves communicating findings, recommendations, and c
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Q1. What have you done in your articleship and it’s related exposure in brief.
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Q2. Behavioural questions
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25 questions little bit tricky

Q1. What is friendly class
Ans. 
A friendly class is a welcoming and inclusive learning environment where students feel comfortable and supported.
• Encourages positive interactions between students and teachers

• Promotes collaboration and teamwork

• Respects diversity and individual differences

• Provides a safe space for students to express themselves

• Fosters a sense of belonging and community
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Q2. What is inheritance
Ans. 
Inheritance is a concept in object-oriented programming where a class can inherit attributes and methods from another class.
• Allows for code reusability and promotes the concept of 'is-a' relationship

• Derived class inherits properties and behaviors of the base class

• Can have multiple levels of inheritance (multi-level inheritance)

• Example: Class 'Animal' can be a base class with attributes like 'name' and methods like 'eat...read more
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Q1. Why is there a gap on your resume?
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Q2. What did u do to manage your busy times?
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Lasted around 10 minutes. Questions had nothing to do with the role - Mostly vague.

Q1. Why do you want to join?
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Q1. Tell me about yourself
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Q2. Your university experience (leadership, extracurricular activities)
Ans. 
I was actively involved in student government, led a club, and volunteered at local organizations.
• Served as president of the student government, organizing events and representing student body

• Led a club focused on community service, coordinating volunteer opportunities and fundraisers

• Volunteered at local organizations such as food banks and shelters, gaining hands-on experience in helping others
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Q3. What is your talent/hobby
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Q4. Why did you choose this department for your intern
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Q1. Tell me about your experience
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Q2. How you do business audit
Ans. 
I conduct business audits by thoroughly examining financial records, internal controls, and compliance with regulations.
• Reviewing financial statements and transactions for accuracy

• Assessing internal controls to ensure they are effective and efficient

• Evaluating compliance with laws and regulations

• Identifying areas of improvement and making recommendations

• Communicating findings to management and stakeholders
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