TomTom Interview Questions and Answers

Monetary policy refers to the actions taken by a central bank to manage the supply and demand of money and credit in an economy. RRB refers to Regional Rural Banks.

• Monetary policy involves setting interest rates, controlling inflation, and managing the money supply.

• RRBs are banks that operate in rural areas and are owned by the government, commercial banks, and local bodies.

• Changes in RRBs can impact the availability of credit in rural areas, which can in turn affect the effe...read more

The COVID-19 pandemic affected most sectors, but technology and e-commerce saw significant improvements.

• The pandemic caused a global economic downturn, affecting most sectors.

• Industries such as travel, hospitality, and retail were hit the hardest.

• However, technology and e-commerce saw significant improvements as people shifted to online platforms for work, shopping, and entertainment.

• Companies like Amazon, Zoom, and Netflix saw a surge in demand and profits.

• The healthcare sec...read more

Banks are required to follow Ind AS. Lease accounting under Ind AS is based on the concept of 'right to use'.

• Banks are considered as 'public interest entities' and are required to follow Ind AS from April 1, 2018.

• Lease accounting under Ind AS is based on the concept of 'right to use' rather than 'ownership'.

• Under Ind AS 116, lessees are required to recognize all leases on their balance sheet as a right-of-use asset and a lease liability.

• Banks need to ensure that their financi...read more

The COVID-19 pandemic has severely impacted the Indian economy.

• The lockdowns and restrictions led to a significant decline in economic activity.

• Industries such as tourism, hospitality, and aviation were hit the hardest.

• The unemployment rate increased, and many small businesses shut down.

• The government implemented various measures such as stimulus packages and loan moratoriums to support the economy.

• The GDP contracted by 7.7% in the financial year 2020-21.

• The second wave of CO...read more

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

• SLR stands for Statutory Liquidity Ratio and CRR stands for Cash Reserve Ratio.

• SLR is the percentage of deposits that banks are required to maintain in the form of liquid assets such as cash, gold, or government securities.

• CRR is the percentage of deposits that banks are required to keep with the central bank in the form of reserves.

• SLR is used to control the flow of credit in the econo...read more

Loan to SMEs under economy package is a government initiative to support small businesses during economic downturns.

• The loan is provided at a lower interest rate than the market rate.

• The loan amount is usually smaller than regular business loans.

• The eligibility criteria for SMEs to avail the loan is relaxed.

• The loan is aimed at helping SMEs sustain their business during tough economic times.

• The loan is a part of the government's efforts to boost the economy by supporting smal...read more