IndusInd Bank Deputy Branch Manager Interview Questions, Process, and Tips

Deceased claim process in without nominee case

• The legal heir needs to submit a claim form along with the death certificate of the account holder

• The bank will verify the claim and the legal heir's relationship with the deceased

• If the claim is approved, the funds will be transferred to the legal heir's account

• If there are multiple legal heirs, the funds will be divided among them as per the succession laws

• If the legal he...read more

Technical verification in clearing refers to the process of verifying the accuracy and completeness of trade data and ensuring compliance with regulatory requirements.

• It involves checking trade data against market rules and regulations

• It ensures that all necessary information is included in the trade data

• It helps to prevent errors and reduce the risk of trade failures

• Examples include verifying trade details such as tra...read more

Bait money is a form of currency that is marked and used to track criminals who steal from banks or other financial institutions.

• Bait money is typically used in sting operations to catch thieves and robbers.

• The money is marked with special ink or dye that can be easily identified by law enforcement.

• Bait money can also be used to track the movement of stolen money and identify suspects.

• It is important to keep the use of...read more

Soiled notes are dirty or stained while mutilated notes are damaged or torn.

• Soiled notes are still intact and can be used for transactions but may require cleaning.

• Mutilated notes are no longer usable and need to be replaced by the central bank.

• Examples of soiled notes include those with ink stains, dirt, or oil marks.

• Examples of mutilated notes include those with missing corners, holes, or tears.

• Banks are responsible ...read more

DN1 & DN2 are designations for different levels of Deputy Branch Managers in some organizations.

• DN1 is typically a lower level position with less responsibility than DN2.

• DN2 is usually a more senior position with greater responsibility and authority.

• The specific duties and requirements for each designation may vary depending on the organization.

• For example, DN1 may be responsible for managing a smaller team or branch, ...read more

Locker facility is a secure storage space provided to customers for storing valuables. Audit management involves overseeing and ensuring compliance with audit procedures.

• Locker facility is a service offered by banks and other financial institutions to customers for storing valuable items such as jewelry, documents, and cash in a secure manner.

• Audit management involves planning, organizing, and overseeing the audit proc...read more

Handling deceased claim process involves compassion, attention to detail, and adherence to company policies.

• Ensure timely processing of claim to provide financial assistance to the deceased's family

• Communicate with family members with empathy and sensitivity

• Verify all necessary documentation and information to prevent fraud

• Coordinate with relevant departments to finalize the claim

• Follow company protocols and legal requ

BCSBI stands for Banking Codes and Standards Board of India. It is a voluntary organization that aims to ensure fair banking practices.

• BCSBI was set up in 2006 by the Reserve Bank of India and Indian Banks' Association.

• It has developed a Code of Bank's Commitment to Customers, which outlines the minimum standards of banking practices that banks should follow.

• BCSBI also conducts audits of banks to ensure compliance with...read more

Recent developments in the banking industry include digital banking, fintech partnerships, and increased focus on cybersecurity.

• Digital banking has become more prevalent, with customers being able to perform transactions and access services online or through mobile apps.

• Fintech partnerships have emerged, where traditional banks collaborate with technology companies to offer innovative financial products and services.

• Th...read more