Chief Internal Auditor Interview Questions and Answers

The question is about various types of deposits and their operational instructions for opening and maturity.

• Different types of deposits include saving bank accounts, time deposits, recurring deposits, FDR deposits, and senior citizen special deposits.

• KYC documents are required for opening saving bank accounts.

• Accounts can be opened in single name or jointly with a spouse.

• Operational instructions can be self or either or survivor on joint accounts.

• Instructions for time deposit...read more

Recovery policies for non-performing loans including securitization, compromise, state recovery proceedings, Lok Adalat procedures, and DRRBT recovery tribunal.

• Recovery policies for non-performing loans are crucial for financial institutions to minimize losses.

• Securitization involves pooling of non-performing loans and selling them to investors.

• Compromise in NPA loan accounts involves negotiating with the borrower to settle the debt.

• State recovery proceedings in NPA agri loan...read more

Technology and staff honesty are both crucial in analyzing deposit frauds.

• Technology should be used to detect and prevent frauds, such as implementing multi-factor authentication and real-time transaction monitoring.

• Regular staff training and awareness programs should be conducted to ensure honesty and ethical behavior.

• Internal controls should be established to prevent conflicts of interest and ensure segregation of duties.

• Data analytics can be used to identify suspicious pat...read more

Technology in banks is crucial for efficiency, security, and customer experience.

• Technology enables online banking, mobile banking, and ATMs for convenient customer access.

• Data analytics and AI help banks detect fraud and make informed decisions.

• Cybersecurity measures are essential to protect sensitive customer information.

• Blockchain technology is being explored for secure and transparent transactions.

• Integration of fintech solutions can enhance customer experience and stream...read more