50+ FYNXT Interview Questions and Answers

Banking financial services are provided by banks, while nonbanking financial services are provided by other financial institutions.

• Banks are licensed financial institutions that accept deposits, offer loans, and provide various financial services.

• Nonbanking financial services are offered by institutions that are not licensed as banks, such as insurance companies, investment firms, and credit unions.

• Banks are regulated by banking authorities and are subject to specific banking...read more

Sales is the process of selling products or services, while marketing involves activities to promote and create demand for those products or services.

• Sales focuses on closing deals and generating revenue.

• Marketing focuses on understanding customer needs, creating brand awareness, and developing strategies to reach target audiences.

• Sales is more transactional, while marketing is more strategic and long-term.

• Sales involves direct interaction with customers, while marketing invo...read more

Repo rate is the rate at which the central bank lends money to commercial banks. Reverse repo rate is the rate at which banks can park their excess funds with the central bank. Maximum deposit limit varies by bank and account type.

• Repo rate is the rate at which the central bank (like RBI in India) lends money to commercial banks to maintain liquidity, control inflation, and promote economic growth.

• Reverse repo rate is the rate at which banks can park their excess funds with t...read more

A questionnaire is a set of questions used to gather information, while a schedule is a plan or timetable.

• A questionnaire is used to collect data through a series of questions.

• A schedule is a plan or timetable that outlines tasks or events.

• Questionnaires are typically used in research or surveys to gather information from participants.

• Schedules are used to organize and manage time, tasks, or events.

• Questionnaires can be open-ended or closed-ended, while schedules are more str...read more

Various machine learning algorithms with brief details

• Supervised Learning: Linear Regression, Logistic Regression, Support Vector Machines (SVM), Decision Trees, Random Forest

• Unsupervised Learning: K-means Clustering, Hierarchical Clustering, Principal Component Analysis (PCA)

• Reinforcement Learning: Q-Learning, Deep Q-Networks (DQN)

• Neural Networks: Convolutional Neural Networks (CNN), Recurrent Neural Networks (RNN), Long Short-Term Memory (LSTM)

GSTR 3B reversals are reported in Form GST DRC-03 along with reasons for reversal.

• Form GST DRC-03 is used for reporting reversals made in GSTR 3B.

• Reasons for reversal such as excess input tax credit claimed, incorrect tax liability reported, etc. should be mentioned.

• Examples of reasons for reversal include reversal of input tax credit on goods lost, stolen, destroyed, etc.

Not all employees follow correct rules and regulations.

• There may be some employees who intentionally or unintentionally violate rules and regulations.

• Some employees may not be aware of the rules and regulations.

• There may be instances where employees are not properly trained on the rules and regulations.

• It is important for the organization to have a system in place to monitor and enforce compliance.

• Regular training and communication can help ensure that employees understand an...read more

Refinance is the process of replacing an existing loan with a new one with better terms. Top up loan is an additional loan on top of an existing one.

• Refinance can help lower interest rates, reduce monthly payments, or change the loan term.

• Top up loan is usually offered to borrowers who have already paid off a significant portion of their existing loan.

• Refinance and top up loan are commonly used in the context of home loans and personal loans.

• Example of refinance: A borrower w...read more

Intra-state sale refers to sale of goods within the same state, while inter-state sale refers to sale of goods between different states under GST.

• Intra-state sale is subject to CGST and SGST/UTGST, while inter-state sale is subject to IGST.

• Intra-state sale occurs when both the seller and buyer are located in the same state.

• Inter-state sale occurs when the seller and buyer are located in different states.

• Example of intra-state sale: A company in Maharashtra selling goods to a ...read more

Mahindra Finance company has a collaborative and inclusive working culture focused on employee growth and development.

• Collaborative work environment where teamwork is encouraged

• Inclusive culture that values diversity and different perspectives

• Focus on employee growth and development through training and mentorship programs

• Open communication channels for feedback and suggestions

• Emphasis on work-life balance for employees

Documentation required for home loan in rural areas

• Proof of identity and address

• Proof of income and employment

• Property documents

• Land records

• No objection certificate from local authorities

• Proof of insurance

• Proof of investment in the property

• Proof of repayment capacity

• Proof of agricultural income (if applicable)

API testing is testing the APIs directly to ensure they meet functionality, reliability, performance, and security requirements.

• Understand the API documentation to identify endpoints, parameters, and expected responses

• Create test cases to validate input/output data, error handling, and authentication

• Use tools like Postman or SoapUI to send requests and verify responses

• Perform functional, performance, security, and integration testing on APIs

• Automate API tests to run continuou...read more

NBFC stands for Non-Banking Financial Company.

• NBFC is a type of financial institution that provides banking services without meeting the legal definition of a bank.

• They are engaged in activities like loans and advances, acquisition of shares/stocks/bonds/debentures, leasing, hire-purchase, etc.

• NBFCs play a crucial role in providing credit to individuals and businesses who may not have access to traditional banking services.

• Examples of NBFCs include Bajaj Finance, Mahindra & M...read more

Monitoring of HSE is ensured through regular inspections, audits, and data analysis.

• Conduct regular inspections to identify potential hazards and ensure compliance with HSE regulations

• Perform audits to assess the effectiveness of HSE management systems and identify areas for improvement

• Analyze HSE data, such as incident reports and near-miss records, to identify trends and implement preventive measures

• Establish key performance indicators (KPIs) to track HSE performance and se...read more

No location constraint

• I am open to working in any location

• I am willing to relocate if required

• I believe that location should not be a barrier to career growth

Mahindra Finance company plays a crucial role in providing financial services to customers for purchasing Mahindra vehicles and equipment.

• Mahindra Finance offers loans for purchasing Mahindra vehicles such as cars, tractors, and commercial vehicles.

• They provide financing options for customers to buy Mahindra equipment like tractors, construction equipment, and agricultural machinery.

• The company also offers insurance products to protect the assets financed by them.

• Mahindra Fin...read more

Software development involves creating, designing, testing, and maintaining software applications.

• Software development includes coding, testing, debugging, and documenting software applications.

• Developers use programming languages like Java, Python, C++, etc. to write code.

• Agile and Waterfall are common software development methodologies.

• Version control systems like Git are used to manage code changes.

• Software development lifecycle consists of planning, designing, building, t...read more

We assess the customer's credit history, income, employment status, and financial stability to determine their suitability for a loan.

• Check the customer's credit score and credit history to evaluate their creditworthiness

• Verify the customer's income and employment status to ensure they have the means to repay the loan

• Assess the customer's overall financial stability and debt-to-income ratio

• Consider any collateral or assets the customer may have to secure the loan

• Review the cu...read more

Customer, NPA/CIBIL DPD, Affecency, CRA are terms related to credit and loan management.

• Customer refers to an individual or organization who avails credit or loan from a financial institution.

• NPA (Non-Performing Asset) is a loan or credit that has not been repaid for a certain period of time and is considered a bad debt.

• CIBIL DPD (Days Past Due) is a credit score that indicates the number of days a borrower has delayed in making payments.

• Affecency is a measure of the likeliho...read more

To help org growth, focus on innovation, customer satisfaction, employee engagement, and strategic partnerships.

• Invest in research and development to create innovative products/services

• Prioritize customer satisfaction by gathering feedback and addressing concerns

• Engage employees through training, recognition, and opportunities for growth

• Form strategic partnerships to expand reach and access new markets

I am adaptable and can focus on my work despite the disturbance.

• I will try to identify the source of disturbance and see if it can be eliminated.

• I will use noise-cancelling headphones or earplugs to block out noise.

• I will try to create a comfortable and organized workspace to minimize distractions.

• I will prioritize my tasks and focus on the most important ones first.

• I will communicate with my team and seek their support if needed.

• For example, in my previous job, I worked in a...read more

To provide a comprehensive answer, it is necessary to know the specific industry or field the sales executive position is in.

• Identify the industry or field the sales executive position is in

• Research and understand the products or services offered by the company in that industry

• Highlight any personal experience or knowledge of similar products or services

• Emphasize the ability to quickly learn and adapt to new products

• Mention any relevant sales or customer service experience

Yes, there may be openings in Mahindra. Please provide your location and experience details for better assistance.

• Please provide your location and experience details

• Re-join option may be available depending on the circumstances

• Cannot confirm openings in North Karnataka without specific information

• Contact Mahindra HR for more information

Key skills in managing HSE include risk assessment, communication, leadership, and problem-solving.

• Ability to conduct thorough risk assessments

• Effective communication skills to convey safety procedures and policies

• Strong leadership skills to ensure compliance and promote a safety culture

• Problem-solving skills to identify and address safety issues

• Knowledge of relevant regulations and standards

• Ability to train and educate employees on safety practices

• Attention to detail and abi...read more

A mandate is a command or authorization to act in a particular way. Types of mandates include legal, financial, and political mandates.

• Mandate is a formal order or commission to do something.

• Types of mandates include legal mandates (e.g. court orders), financial mandates (e.g. direct debit authorization), and political mandates (e.g. election results).

• Mandates can also refer to the authority given to a person to act on behalf of another (e.g. power of attorney).

Yes, I have filed GST returns myself for multiple clients in my previous role as a taxation manager.

• I have experience in filing GST returns for multiple clients

• I am familiar with the GST filing process and requirements

• I have ensured timely and accurate filing of GST returns to avoid penalties

Composite supply is a supply consisting of two or more taxable supplies of goods or services or both, which are naturally bundled and supplied in conjunction with each other.

• Composite supply involves multiple taxable supplies bundled together as a single supply.

• It is treated as a single supply for tax purposes.

• The tax rate applicable to the principal supply is applied to the entire composite supply.

• Example: A laptop sold with a laptop bag and a mouse as a single package.

• Mixed...read more

Both knowledge and communication are important, but effective communication is crucial for successful operations.

• Knowledge is essential for making informed decisions and solving complex problems.

• Communication is key for coordinating teams, sharing information, and ensuring everyone is on the same page.

• Without effective communication, even the most knowledgeable individuals may struggle to work together efficiently.

• Examples: A team of experts with vast knowledge but poor commu...read more

I have extensive ground work experience in various industries.

• Worked as a sales representative for a pharmaceutical company, conducting product demonstrations and educating healthcare professionals.

• Managed a team of construction workers for a real estate development project, overseeing the construction process and ensuring compliance with safety regulations.

• Volunteered at a non-profit organization, assisting with community outreach programs and organizing fundraising events.

• I...read more

Yes, I know how to calculate EMI.

• EMI stands for Equated Monthly Installment.

• It is calculated using the formula: EMI = [P x R x (1+R)^N]/[(1+R)^N-1]

• P is the principal amount, R is the rate of interest, and N is the number of months.

• I have experience in calculating EMI for various loan products such as personal loans, home loans, and car loans.

Different modes of operation refer to the various ways in which a system or device can function.

• Manual mode - where operations are carried out by hand

• Automatic mode - where operations are carried out by a machine without human intervention

• Semi-automatic mode - a combination of manual and automatic operation

• Batch mode - processing data in groups rather than individually

• Real-time mode - processing data immediately as it is received

SQL is a programming language used for managing and manipulating relational databases.

• SQL stands for Structured Query Language

• It is used to retrieve and manipulate data in relational databases

• Common SQL commands include SELECT, INSERT, UPDATE, DELETE

• SQL can be used to create tables, indexes, and views

• Examples of SQL databases include MySQL, PostgreSQL, Oracle

Reverse charge mechanism is a system where the recipient of the goods or services is liable to pay the tax instead of the supplier.

• Under reverse charge mechanism, the recipient of the goods or services is responsible for paying the tax to the government instead of the supplier.

• This mechanism is commonly used in cases where the supplier is not registered for GST or is an unregistered dealer.

• It helps in preventing tax evasion and ensuring that the tax is collected by the govern...read more

Six Sigma tools and techniques are used to improve processes and reduce defects.

• DMAIC (Define, Measure, Analyze, Improve, Control) process

• Statistical Process Control (SPC)

• Design of Experiments (DOE)

• Failure Mode and Effects Analysis (FMEA)

• Pareto charts

• Root Cause Analysis (RCA)

Yes, I am proficient in using Excel for data analysis, reporting, and creating spreadsheets.

• Proficient in creating and formatting spreadsheets

• Skilled in using formulas and functions for data analysis

• Experienced in generating reports and charts

• Comfortable with data manipulation and organization

Machine learning is a branch of artificial intelligence that involves developing algorithms and models that enable computers to learn from and make predictions or decisions based on data.

• Machine learning is a subset of artificial intelligence that focuses on developing algorithms that can learn from and make predictions or decisions based on data.

• It involves training models on large datasets to recognize patterns and make predictions without being explicitly programmed.

• Exampl...read more

HSMS is managed through a systematic approach that involves identifying hazards, assessing risks, and implementing controls.

• Develop and implement policies and procedures

• Train employees on HSMS

• Conduct regular audits and inspections

• Continuously improve the HSMS

• Ensure compliance with regulations and standards

Defect life cycle is the process of identifying, reporting, fixing, retesting, and closing defects in software development.

• Defect identification: Defects are identified through testing or user feedback.

• Defect reporting: Defects are reported in a defect tracking system with details like severity and priority.

• Defect fixing: Developers fix the reported defects.

• Defect retesting: Testers verify that the defects are fixed.

• Defect closing: Once the defects are verified as fixed, they...read more

Digital verification is the process of confirming the accuracy and authenticity of digital information or data.

• Digital verification involves verifying the integrity of digital files or documents to ensure they have not been tampered with.

• It can include methods such as checksums, digital signatures, and encryption to verify the authenticity of data.

• Digital verification is commonly used in software development, cybersecurity, and digital forensics.

• For example, verifying the dig...read more

Polymorphism is the ability of a function or method to behave differently based on the object it is acting upon.

• Polymorphism allows objects of different classes to be treated as objects of a common superclass.

• There are two types of polymorphism: compile-time (method overloading) and runtime (method overriding).

• Example: Inheritance in object-oriented programming languages like Java allows for polymorphism.

RestController is a class in Spring framework used to handle HTTP requests and return responses as JSON or XML.

• Handles HTTP requests in Spring framework

• Returns responses as JSON or XML

• Annotate a class with @RestController to define it as a RestController

• Example: @RestController public class UserController {}

I will increase business by implementing targeted marketing strategies, expanding client base, and improving customer retention.

• Identify target market segments and tailor marketing campaigns to reach them effectively

• Expand client base by networking, attending industry events, and cold calling potential leads

• Improve customer retention through excellent customer service, personalized follow-ups, and loyalty programs

Composition scheme is a simplified tax scheme for small businesses with turnover below a certain threshold.

• Available for businesses with turnover below a certain threshold

• Allows for simplified tax calculations and compliance

• Businesses under composition scheme cannot collect tax from customers

• Quarterly filing of returns instead of monthly

• Example: In India, businesses with turnover up to Rs. 1.5 crore can opt for composition scheme

Consulting a customer involves understanding their needs, providing expert advice, and guiding them towards solutions.

• Listen actively to the customer's concerns and goals

• Ask probing questions to gather more information

• Offer tailored solutions based on expertise and experience

• Provide clear explanations and recommendations

• Follow up to ensure customer satisfaction

Blocked credit under GST refers to input tax credit that cannot be claimed by a taxpayer.

• Blocked credit includes items like motor vehicles, food and beverages, health services, etc.

• Input tax credit on goods or services used for personal purposes or non-business activities is also blocked.

• Blocked credit can lead to higher tax costs for businesses as they cannot offset it against their output tax liability.

Credit scores are numerical representations of an individual's creditworthiness.

• Credit scores range from 300 to 850, with higher scores indicating better creditworthiness.

• Credit scores are calculated based on factors such as payment history, credit utilization, length of credit history, new credit accounts, and types of credit used.

• Lenders use credit scores to assess the risk of lending money to an individual.

• A good credit score is typically considered to be above 700, while ...read more

Working the NPA bucket involves effectively managing and recovering non-performing assets.

• Identify and prioritize non-performing assets

• Develop and implement strategies for recovery

• Monitor and track progress regularly

• Utilize legal and collection resources when necessary

• Maintain strong communication with borrowers

• Analyze root causes of non-performing assets and address them

• Collaborate with internal teams and external agencies

• Stay updated on industry regulations and best practic...read more

AmbitionBox is a platform for job seekers to read company reviews and ratings.

• AmbitionBox provides insights into company culture, salary, work-life balance, and more.

• Users can search for companies and read reviews from current and former employees.

• The platform also allows users to compare companies and salaries.

• Employers can also use AmbitionBox to showcase their company culture and attract potential candidates.

• Examples of companies with reviews on AmbitionBox include Amazon,...read more

I am currently working as a Sales Executive at XYZ Pvt. Ltd.

• Responsible for achieving sales targets

• Identifying new business opportunities

• Building and maintaining relationships with clients

• Preparing sales reports and forecasts

DDL stands for Data Definition Language in DBMS, used to define the structure of the database.

• DDL is used to create, modify, and delete database objects such as tables, indexes, and views.

• Examples of DDL commands include CREATE, ALTER, and DROP.

• DDL statements do not affect the data stored in the database, only the structure.

Refinance is the process of replacing an existing loan with a new loan, typically to take advantage of better terms or lower interest rates.

• Refinance involves paying off an existing loan with the proceeds from a new loan

• It is often done to secure a lower interest rate, reduce monthly payments, or change the loan term

• Homeowners commonly refinance their mortgages to take advantage of lower interest rates

Our policy is to prioritize ethical and legal compliance in all aspects of our operations.

• We have a strict code of conduct that all employees must adhere to

• We regularly review and update our policies to ensure compliance with changing laws and regulations

• We have a dedicated legal team that oversees all legal matters

• We prioritize transparency and open communication with all stakeholders

• We take swift and appropriate action in response to any legal or ethical violations

• For examp...read more

Life is a journey filled with ups and downs, challenges and opportunities, growth and self-discovery.

• Life is a series of experiences that shape who we are

• We encounter obstacles and setbacks that test our resilience

• There are moments of joy and success that make the journey worthwhile

• Self-reflection and personal growth are key components of the journey