Bandhan Bank Auditor Interview Questions and Answers

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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Self, family, work experience

Q1. What is STR , what is fatca
Ans. 
STR stands for Suspicious Transaction Report and FATCA stands for Foreign Account Tax Compliance Act.
• STR is a report that financial institutions must file with authorities when they suspect a transaction is related to money laundering or terrorist financing.

• FATCA is a US law that requires foreign financial institutions to report information about accounts held by US taxpayers to the IRS.

• Both STR and FATCA are important...read more
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Q2. What do you mean by money mule accounts
Ans. 
Money mule accounts are bank accounts used by criminals to transfer illegally obtained money, often unknowingly by the account holder.
• Money mule accounts are typically opened by individuals who are recruited by criminals to receive funds from illegal activities.

• The account holder may be unaware that they are participating in illegal activities, believing they are simply helping with a legitimate transaction.

• Criminals u...read more
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Q3. What is fema guidlines
Ans. 
FEMA guidelines refer to the regulations and recommendations set by the Federal Emergency Management Agency to help prepare for and respond to emergencies and disasters.
• FEMA guidelines cover a wide range of topics including disaster preparedness, response, recovery, and mitigation.

• These guidelines provide recommendations for individuals, communities, and organizations to effectively respond to emergencies such as natur...read more
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Q1. Related to Audit and Banking
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Q1. What is your prior experience as detailed in your CV?
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Q1. What is NPA, what is prudential restructuring, what is financial outsourcing
Ans. 
NPA stands for Non-Performing Assets, prudential restructuring is a process to improve the financial health of a company, and financial outsourcing is the practice of contracting out financial activities to a third party.
• NPA refers to loans or advances that are in default or are in arrears of scheduled payments for a specified period.

• Prudential restructuring involves making changes to a company's financial structure to...read more
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Q1. Reason for change in job, Banking experience
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Q1. Generic question on job background
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Q1. Salary discussion
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