10+ Deputy Manager II Interview Questions and Answers

The latest updation in RBI master direction KYC AML and maintenance of documents after closure of accounts or relationship.

• The latest updation in RBI master direction KYC AML was in January 2020.

• It introduced the concept of 'centralized KYC registry' for easier and efficient KYC verification.

• Maintenance of documents after closure of accounts or relationship is mandatory for at least 5 years.

• The documents should be preserved in a secure manner and made available to competent a...read more

When giving a loan to a salaried employee, documents to check include income proof, employment proof, credit score, and identity proof.

• Income proof such as salary slips or bank statements

• Employment proof such as offer letter or appointment letter

• Credit score report to check the creditworthiness of the borrower

• Identity proof such as Aadhaar card, PAN card, or passport

The question pertains to measures for verifying corporate account details and risk rating categories.

• Apart from scrutinizing documents, additional measures can include conducting site visits or contacting references.

• KYC updation review exercise can involve checking for any changes in the client's business or ownership structure.

• Risk rating categories can be based on factors such as the client's industry, financial stability, and past behavior.

• Accounts falling under high-risk ...read more

I manage inventory by utilizing inventory management software and conducting regular audits to track stock levels and reorder supplies as needed.

• Utilize inventory management software to track stock levels and reorder supplies

• Conduct regular audits to ensure accuracy of inventory records

• Implement just-in-time inventory system to minimize excess stock and reduce carrying costs

Checkpoints in KYC process ensure compliance with regulations and verify customer identity.

• Collecting customer information (name, address, date of birth, etc.)

• Verifying documents (ID, proof of address, etc.)

• Screening for sanctions lists and politically exposed persons

• Risk assessment based on customer profile and transaction behavior

• Regularly updating customer information and conducting periodic reviews

To improve your business, focus on customer satisfaction, streamline processes, invest in technology, and prioritize employee training.

• Enhance customer experience through personalized service and feedback mechanisms

• Optimize operations by automating repetitive tasks and implementing efficient workflows

• Invest in technology to stay competitive and improve productivity

• Prioritize employee training and development to boost performance and morale

Yes, there is an issue with sales.

• Sales have been declining for the past few months.

• There is increased competition in the market.

• The sales team is not meeting their targets.

• There is a lack of effective marketing strategies.

• Customer complaints and negative reviews are affecting sales.

Internal audit helps ensure compliance, identify risks, and improve processes.

• Internal audit helps to ensure compliance with regulations and company policies.

• It helps identify risks and weaknesses in processes, allowing for improvements to be made.

• Internal audit provides assurance to stakeholders that the organization is operating effectively and efficiently.

• It can also help in detecting and preventing fraud within the organization.

• By conducting internal audits, the organizat...read more

Banks are financial institutions that accept deposits and offer loans, while NBFCs are non-banking financial companies that offer financial services but cannot accept deposits.

• Banks are regulated by the Reserve Bank of India, while NBFCs are regulated by the Companies Act, 1956

• Banks can issue cheques and demand drafts, while NBFCs cannot

• Banks offer interest on deposits, while NBFCs do not

• NBFCs can offer loans and financial services to specific sectors, while banks have a wide...read more