IndusInd Bank Back Office Interview Questions and Answers

There are multiple types of accounts, including checking, savings, credit, and investment accounts.

• Checking accounts are used for everyday transactions

• Savings accounts are used for storing money and earning interest

• Credit accounts are used for borrowing money and building credit

• Investment accounts are used for buying and selling stocks, bonds, and other securities

Sales account is a record of all sales transactions made by a company.

• It tracks all sales made by a company

• It includes details such as date, amount, customer name, and product sold

• It helps in analyzing sales trends and forecasting future sales

• It is used to calculate revenue and profit

• It is an important part of a company's financial statements

Back office refers to the administrative and support functions of a business that are not customer-facing.

• Back office includes tasks such as data entry, record keeping, and accounting.

• Back office staff support the front office staff who interact directly with customers.

• Back office operations are essential for the smooth functioning of a business.

• Examples of back office jobs include computer operator, data entry clerk,

FATCA is a US law that requires foreign financial institutions to report on US citizens' assets held abroad.

• FATCA stands for Foreign Account Tax Compliance Act

• It was enacted in 2010 to prevent tax evasion by US citizens holding assets in foreign accounts

• Foreign financial institutions must report on US citizens' assets held abroad or face penalties

• FATCA has implications for US citizens living abroad who may face difficu...read more