Kotak Mahindra Bank Banking Assistant Interview Questions and Answers

I want to make a career in the banking sector because of its stability, growth opportunities, and the chance to work with diverse clients and financial products.

• Stability: The banking sector is known for its stability, even during economic downturns.

• Growth opportunities: Banks offer various career paths and opportunities for advancement.

• Working with diverse clients: Banks serve a wide range of clients, allowing for exp...read more

Common ways to operate a bank account include online banking, mobile banking, ATM transactions, and in-person transactions.

• Online banking through the bank's website or mobile app

• Mobile banking through the bank's mobile app

• ATM transactions for deposits, withdrawals, and transfers

• In-person transactions at a bank branch or through a teller

• Direct deposit for regular income

• Automatic bill pay for recurring expenses

A charge off is a debt that a lender has given up on collecting and has written off as a loss.

• A charge off is a negative mark on a credit report.

• It typically occurs when a borrower fails to make payments for several months.

• The lender will then write off the debt as a loss and may sell it to a collection agency.

• The borrower is still responsible for paying the debt, but it may be more difficult to negotiate with a collec...read more

A line of credit is a flexible loan that allows you to borrow money up to a certain limit.

• It is a type of revolving credit

• Interest is only charged on the amount borrowed

• The borrower can withdraw funds as needed

• The credit limit is based on the borrower's creditworthiness

• Examples include credit cards and home equity lines of credit