IDFC FIRST Bank Interview Questions and Answers

The number beside the cheque number is the cheque amount in words.

• The number beside the cheque number is usually written in words to avoid fraud or alteration.

• It is also known as the legal amount or amount in words.

• For example, if the cheque amount is $500, the number beside the cheque number would be 'Five Hundred Dollars'.

I do not have access to the exact number of files sourced in a month at IDFC FIRST BANK.

• I am not in a position to provide an accurate answer to this question as I do not have access to the data.

• However, I can assure you that I am capable of handling a high volume of files and ensuring their timely processing.

Banking is a financial service that involves accepting deposits and lending money.

• Banks accept deposits from customers and pay interest on them

• They use the deposited money to lend to borrowers at a higher interest rate

• Banks also offer various financial services like loans, credit cards, and investment options

• They make money by charging fees and interest on loans and investments

• Banks are regulated by government agencies to ensure safety and stability

Accounts and investment come under the purview of the Finance department in a bank.

• Accounts and investment are managed by the Finance department in a bank.

• The Finance department is responsible for managing the bank's financial resources.

• Examples of tasks performed by the Finance department include managing cash flow, investing funds, and preparing financial statements.

Instruments of money market are short-term, low-risk financial instruments used for borrowing and lending.

• Money market instruments have a maturity period of less than one year.

• Examples of money market instruments include treasury bills, commercial paper, certificates of deposit, and repurchase agreements.

• They are used by governments, corporations, and financial institutions to manage short-term cash needs and investments.

• Money market instruments are considered low-risk becaus...read more

The average number of files received per month varies depending on the department and workload.

• The number of files received per month can range from a few hundred to several thousand depending on the department.

• The workload and seasonality can also affect the number of files received.

• It is important to have a system in place to manage the influx of files and ensure timely processing.

• For example, in a busy HR department, the number of files received per month can be around 100...read more

Banking products include savings accounts, checking accounts, loans, credit cards, and investment products.

• Savings accounts

• Checking accounts

• Loans

• Credit cards

• Investment products

KYC stands for Know Your Customer and refers to the process of verifying the identity of clients.

• KYC is a crucial process in the financial industry to prevent fraud and money laundering.

• It involves collecting and verifying personal information such as name, address, and identification documents.

• KYC regulations vary by country and industry, but generally require ongoing monitoring of customer activity.

• Examples of KYC procedures include identity verification, risk assessment, a...read more