20+ Gnoin Interview Questions and Answers

Banks can explore alternate revenue models such as fee-based services, digital banking, cross-selling, and partnerships.

• Offering fee-based services like wealth management, insurance, and advisory services can generate additional income.

• Emphasizing on digital banking services can attract more customers and increase revenue through transaction fees and service charges.

• Cross-selling products and services to existing customers can boost income, for example, offering loans to cust...read more

Internal risk rating is determined by the organization itself, while external risk rating is provided by external agencies or experts.

• Internal risk rating is based on the organization's own assessment of risks and vulnerabilities.

• External risk rating is provided by third-party agencies or experts who evaluate the organization's risk profile.

• Internal risk rating considers factors specific to the organization, such as its internal controls, processes, and historical data.

• Extern...read more

A K-shaped recovery refers to an economic recovery where different sectors or groups experience diverging trajectories.

• In a K-shaped recovery, some sectors or groups of people experience rapid growth and recovery, while others continue to struggle or decline.

• This divergence can be seen in the stock market, where certain industries like technology and e-commerce thrive while others like travel and hospitality suffer.

• The K-shaped recovery also highlights the growing wealth and ...read more

High average system liquidity level indicates ample availability of funds for financial transactions.

• High liquidity level means more funds are available for financial transactions

• It indicates a healthy financial system

• It can lead to lower borrowing costs for banks and businesses

• It can also indicate a low risk of default on loans

• Examples of factors that can affect liquidity levels include government policies, economic conditions, and market trends

Yes, a large forex reserve is good for our country.

• A large forex reserve provides stability to the economy

• It helps in managing the balance of payments

• It can be used to support the currency in case of a crisis

• It can attract foreign investment

• Examples of countries with large forex reserves are China and Japan

Internal and external ratings may differ due to different methodologies, data sources, and subjective judgments.

• Internal ratings are based on the bank's own assessment of creditworthiness, while external ratings are provided by independent rating agencies.

• Internal ratings may be more conservative or optimistic than external ratings, depending on the bank's risk appetite and credit culture.

• External ratings may be influenced by market perceptions, issuer relationships, and conf...read more

A company is a legal entity that engages in business activities, while an organization is a group of people who work together towards a common goal.

• A company is a for-profit entity that sells goods or services to customers.

• An organization can be for-profit or non-profit and can have various goals such as social, political, or environmental.

• A company has shareholders who own a portion of the company and receive profits through dividends.

• An organization may have members or volu...read more

Migration to IND AS could impact Bank's profitability due to changes in accounting standards.

• Migration to IND AS may lead to changes in recognition, measurement, and disclosure of financial instruments, which could impact the bank's profitability.

• The new standards may require the bank to recognize certain assets and liabilities differently, which could affect the bank's financial statements.

• The bank may need to make adjustments to its systems and processes to comply with the ...read more

SLR and CRR are monetary policy tools used by the central bank to regulate the money supply in the economy.

• SLR stands for Statutory Liquidity Ratio and refers to the percentage of deposits that banks are required to maintain in the form of liquid assets such as cash, gold, or government securities.

• CRR stands for Cash Reserve Ratio and refers to the percentage of deposits that banks are required to keep with the central bank as a reserve.

• Both SLR and CRR are used by the centra...read more

Recession is a period of economic decline characterized by a decrease in GDP, employment, and trade. Remedies include fiscal and monetary policies.

• Recession is a cyclical economic phenomenon that occurs when there is a decline in economic activity for two consecutive quarters.

• It is characterized by a decrease in GDP, employment, and trade, and often leads to a rise in unemployment and inflation.

• Remedies for recession include fiscal policies such as government spending and tax...read more

Requirements for setting up an industry include proper planning, sufficient capital, skilled workforce, necessary permits, and a suitable location.

• Proper planning is essential to determine the type of industry, target market, and production process.

• Sufficient capital is needed for purchasing equipment, raw materials, and covering operational costs.

• Skilled workforce is necessary to operate machinery, manage production, and ensure quality control.

• Obtaining necessary permits and...read more

Setting up an industry involves thorough planning, securing funding, obtaining necessary permits, hiring skilled workers, and implementing efficient processes.

• Develop a detailed business plan outlining the industry's goals, target market, competition analysis, and financial projections.

• Secure funding through investors, loans, or grants to cover startup costs and initial operating expenses.

• Obtain necessary permits and licenses from local authorities and regulatory bodies to en...read more

Improving risk governance in a bank involves enhancing risk culture, implementing robust risk management frameworks, and fostering transparency and accountability.

• Enhance risk culture by promoting risk awareness and accountability at all levels of the organization

• Implement robust risk management frameworks to identify, assess, monitor, and mitigate risks effectively

• Foster transparency and accountability by ensuring clear communication of risk policies and procedures to all st...read more

Regular monitoring of financial transactions and activities can help detect fraud on a day-to-day basis.

• Conduct surprise audits to check for any irregularities

• Review financial reports and statements regularly

• Monitor employee behavior and look for any signs of suspicious activity

• Implement strong internal controls and segregation of duties

• Encourage employees to report any suspected fraud

• Stay up-to-date with industry trends and fraud prevention techniques

SQL queries using joins and difference between view and normal table

• Joins are used to combine rows from two or more tables based on a related column between them

• Views are virtual tables that display data from one or more tables based on a predefined query

• Views do not store data physically, while normal tables do

• Views can simplify complex queries and provide security by restricting access to certain columns

• Example: SELECT * FROM table1 JOIN table2 ON table1.column = table2.col...read more

Daily checking of previous day's transactions is a routine task for an internal auditor.

• The auditor should review all transactions from the previous day to ensure accuracy and compliance with policies and procedures.

• This includes reviewing financial transactions, inventory movements, and any other relevant activity.

• The auditor should also investigate any discrepancies or unusual activity and report findings to management.

• Examples of transactions to review include sales, purch...read more

CERSAI portal is a centralized platform for registering and maintaining security interests created by lenders on movable assets.

• CERSAI stands for Central Registry of Securitization Asset Reconstruction and Security Interest of India.

• It helps in creating a central registry of security interests on movable assets to prevent fraud and improve transparency in lending.

• Lenders are required to register their security interests on the portal to establish priority rights in case of de...read more

Banking fraud can be handled by implementing strong internal controls, conducting regular audits, and staying up-to-date on industry trends.

• Develop and implement strong internal controls to prevent fraud

• Conduct regular audits to detect any fraudulent activity

• Stay up-to-date on industry trends and new fraud schemes

• Train employees on fraud prevention and detection

• Collaborate with law enforcement and regulatory agencies to investigate and prosecute fraud cases

• Use data analytics ...read more

My work style is focused, organized, and customer-centric.

• I prioritize tasks based on their importance and urgency.

• I maintain a well-organized schedule and to-do list to stay on top of my responsibilities.

• I am proactive in identifying and addressing customer needs.

• I strive to build strong relationships with clients by providing excellent service and personalized solutions.

• I am adaptable and able to quickly adjust my approach based on the unique requirements of each customer.

Basics of audit include planning, testing, reporting, and follow-up.

• Planning involves identifying objectives, risks, and controls.

• Testing involves gathering evidence to evaluate the effectiveness of controls.

• Reporting involves communicating findings and recommendations to management.

• Follow-up involves monitoring the implementation of recommendations.

• Examples of audits include financial audits, operational audits, and compliance audits.

Primary key is a unique identifier for a record in a database table.

• Primary key ensures data integrity and helps in faster retrieval of data.

• It cannot have null values and must be unique for each record.

• Examples of primary keys are social security number, email address, etc.

Banking offers stability, growth opportunities, and a chance to contribute to the economy. RBI norms ensure financial stability and regulation.

• Banking provides stability in terms of job security and growth opportunities.

• Opportunity to contribute to the economy by facilitating financial transactions and investments.

• RBI norms ensure financial stability, regulation, and protection of customer interests.

• Career growth prospects in banking sector are promising with opportunities fo...read more

Type of charge refers to the nature of the financial obligation, such as fixed or floating charge.

• Type of charge can be fixed or floating.

• Fixed charge is a specific charge on particular assets of a company, while floating charge is a charge on a class of assets that change from time to time.

• Examples of fixed charges include mortgages and debentures, while examples of floating charges include inventory and accounts receivable.

• Understanding the type of charge is important for a...read more