Engineers India Assistant Manager Interview Questions and Answers for Experienced

Different types of LCs include commercial, standby, revolving, transferable, and back-to-back LCs.

• Commercial LCs are used for regular trade transactions.

• Standby LCs act as a guarantee of payment in case of default.

• Revolving LCs are used for multiple shipments over a period of time.

• Transferable LCs allow the beneficiary to transfer the credit to another party.

• Back-to-back LCs involve two separate LCs, one for the buyer

Government MSME procurement policies are guidelines for purchasing goods and services from micro, small, and medium enterprises.

• MSMEs are given priority in government procurement

• Government agencies are required to allocate a certain percentage of their procurement budget for MSMEs

• MSMEs are exempted from paying earnest money deposit (EMD) and bid security

• Government e-marketplace (GeM) is a platform for MSMEs to particip...read more

Spares can be procured through various channels such as direct purchase, vendor management, and inventory management.

• Identify the required spares and their specifications

• Determine the quantity needed and the urgency of the requirement

• Explore direct purchase options from manufacturers or authorized dealers

• Maintain a list of reliable vendors and negotiate favorable terms

• Implement an inventory management system to ensure ...read more