Union Bank of India Interview Questions, Process, and Tips for Experienced

Repo rate, reverse repo rate, and CRR are different rates used by banks to manage liquidity and control inflation.

• Repo rate is the rate at which the central bank lends money to commercial banks, and is used to control inflation by increasing or decreasing the cost of borrowing.

• Reverse repo rate is the rate at which the central bank borrows money from commercial banks, and is used to manage liquidity in the banking syst...read more

Money laundering is the process of making illegally obtained money appear to be legitimate.

• It involves disguising the source of the money through a series of transactions.

• The purpose is to make the money usable without raising suspicion.

• Examples include buying and selling assets, creating shell companies, and using cash-based businesses.

• It is often associated with organized crime and terrorism financing.

• Money launderin

RBI stands for Reserve Bank of India, the central banking institution of India.

• RBI is responsible for regulating the monetary policy of India.

• It issues currency and manages the foreign exchange reserves of the country.

• It supervises and regulates the banking sector in India.

• RBI also acts as a banker to the government and provides credit to various sectors of the economy.

• It was established in 1935 and has its headquarter...read more

The current RBI governor is Shaktikanta Das.

• Shaktikanta Das was appointed as the 25th Governor of the Reserve Bank of India in December 2018.

• Prior to his appointment as Governor, he served as a member of the 15th Finance Commission of India and as the Economic Affairs Secretary to the Government of India.

• He has also worked in various capacities at the Ministry of Finance and the Planning Commission of India.

• Under his l...read more

The full form of UPI is Unified Payments Interface.

• UPI is a real-time payment system developed by NPCI.

• It allows users to transfer money between bank accounts instantly.

• UPI is based on the Immediate Payment Service (IMPS) infrastructure.

• It can be used for various transactions such as bill payments, online shopping, and more.

• Some popular UPI apps include Google Pay, PhonePe, and Paytm.