HDFC Bank Deputy Manager Authorizer Interview Questions and Answers

RTGS stands for Real Time Gross Settlement and NEFT stands for National Electronic Funds Transfer. Timings vary for both.

• RTGS is used for high-value transactions with a minimum amount of Rs. 2 lakh and there is no maximum limit.

• NEFT is used for transactions up to Rs. 2 lakh and there is no minimum limit.

• RTGS operates on a real-time basis and settles transactions individually while NEFT operates in batches and settles t...read more

If end of the day cash is not tallied, the procedure is to investigate the discrepancies and follow the established protocols.

• Investigate the discrepancies in cash

• Review the transactions and records

• Follow the established protocols for resolving discrepancies

• Consult with supervisors or colleagues if necessary

• Document the findings and actions taken

FD is a lump sum investment with fixed interest rate while RD is a recurring deposit with variable interest rate.

• FD requires a lump sum investment while RD requires regular deposits.

• FD offers a fixed interest rate while RD offers a variable interest rate.

• FD has a fixed tenure while RD can have a flexible tenure.

• FD can be withdrawn prematurely with penalty while RD has restrictions on premature withdrawal.

• Example of FD:...read more

Loose leaf refers to paper that is not bound in a book or notebook.

• Loose leaf paper is often sold in packs or reams.

• It can be used for note-taking, printing, or writing letters.

• Three-hole punched loose leaf paper can be easily inserted into a binder.

• Loose leaf tea is also a popular term for tea leaves that are not in tea bags.

Soiled, mutilated, and counterfeit notes are types of unusable currency.

• Soiled notes are those that are dirty or stained and cannot be used in transactions.

• Mutilated notes are those that are torn, damaged, or have pieces missing, making them unusable.

• Counterfeit notes are fake currency that is made to look like real currency, but is not legal tender.

• Banks and financial institutions have strict guidelines for identifyin...read more

To check cheque errors, verify the date, amount, signature, and account number.

• Check the date to ensure it is current and valid

• Verify the amount written in both numbers and words

• Ensure the signature matches the account holder's signature

• Check the account number to ensure it is correct

• Look for any alterations or corrections made to the cheque