Ujjivan Small Finance Bank Banking Operations Interview Questions and Answers

A crossed cheque indicates that the amount should be deposited into the payee's account and cannot be cashed over the counter.

• Crossed cheques have two parallel lines on the top left corner.

• The payee's name is written on the cheque, and only they can deposit it into their account.

• Crossed cheques are more secure than open cheques as they prevent fraud and theft.

• Banks may charge a fee for processing crossed cheques.

• Exampl...read more

AML stands for Anti-Money Laundering. It is a set of laws, regulations, and procedures designed to prevent illegal financial activities.

• AML is a regulatory requirement for banks to prevent money laundering and terrorist financing.

• Banks must verify the identity of their customers and monitor their transactions for suspicious activities.

• AML programs include risk assessments, employee training, and reporting suspicious ac...read more

Gold loan is a type of secured loan where gold is used as collateral.

• The borrower pledges their gold ornaments or coins as collateral

• The lender evaluates the value of the gold and sanctions a loan amount

• The borrower repays the loan amount with interest within the agreed tenure

• If the borrower fails to repay, the lender can auction off the gold to recover the loan amount

• Gold loan is a quick and easy way to get funds for

Gold loan is a type of secured loan where gold is used as collateral.

• Gold loan is a popular form of financing in India.

• The loan amount is usually a percentage of the gold's value.

• The interest rates are lower compared to unsecured loans.

• The loan tenure is shorter compared to other types of loans.

• If the borrower fails to repay the loan, the lender can sell the gold to recover the amount.

• Gold loan can be availed by indivi...read more