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

Consumer right policy is a set of rules and regulations that protect the rights of consumers in the marketplace.

• It ensures that consumers have access to accurate information about products and services

• It protects consumers from fraudulent or deceptive practices

• It allows consumers to file complaints and seek redress for grievances

• Examples include the Consumer Protection Act in India and the Consumer Rights Directive in

Counterfeit currency can be handled by identifying it and reporting it to the authorities.

• Train employees to identify counterfeit currency through visual inspection and counterfeit detection tools

• If counterfeit currency is identified, immediately notify the authorities and provide them with all relevant information

• Do not return counterfeit currency to the customer and explain the situation to them

• Keep the counterfeit c...read more

CTS stands for Cheque Truncation System. It reduces the Turnaround Time (TAT) of clearing cheques.

• CTS is a system implemented by banks to eliminate the physical movement of cheques during the clearing process.

• Under CTS, instead of the physical cheque, an electronic image of the cheque is transmitted for clearing.

• This eliminates the need for physical transportation of cheques between banks, reducing the time taken for c...read more

SLR, MCLR, and Repo rate are important monetary policy tools used by central banks to regulate the economy.

• SLR (Statutory Liquidity Ratio) is the percentage of deposits that banks are required to maintain in the form of liquid assets such as government securities.

• MCLR (Marginal Cost of Funds based Lending Rate) is the minimum interest rate that a bank can lend at, and is based on the bank's cost of funds.

• Repo rate is t...read more

Third party products in banking can provide additional services and benefits to customers.

• Third party products can enhance the range of services offered by a bank.

• They can provide specialized services that the bank may not have expertise in.

• Examples of third party products in banking include insurance policies, investment products, and credit cards.

• These products can help attract and retain customers by offering additi...read more