Deloitte Service Engineer Interview Questions and Answers

Money laundering is the process of making illegally obtained money appear legal.

• Money is moved through a series of transactions to conceal its origin

• The money is often invested in legitimate businesses or assets

• The launderer may use shell companies or offshore accounts to hide the money

• Examples include drug trafficking, embezzlement, and tax evasion

• Money laundering is a serious crime with severe penalties

Repo/reverse repo rate is the rate at which RBI lends/borrows money from banks. Current value varies.

• Repo rate is the rate at which RBI lends money to commercial banks

• Reverse repo rate is the rate at which RBI borrows money from commercial banks

• These rates are used to control inflation and liquidity in the economy

• Current repo rate is 4.00% and reverse repo rate is 3.35% as of August 2021

Money is a medium of exchange for goods and services. Banks create money through the process of fractional reserve banking.

• Money is a universally accepted medium of exchange

• It facilitates transactions for goods and services

• Banks create money through fractional reserve banking

• Banks lend out more money than they have in reserves

• This creates new money in the economy