Universal Corporation Interview Questions and Answers

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

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 identifying and handling these types of notes.

• In some cases, individ...read more

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 transactions in hourly intervals.

• RTGS timings are from 7:00...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

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• FD can be withdrawn prematurely with penalty while RD has restrictions on premature withdrawal.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: Investing a lump sum amount of Rs. 1 lakh for 5 years at ...read more