30+ Probationary Officer Interview Questions and Answers

A bank is a financial institution that accepts deposits from the public and creates credit.

• Banks provide various financial services such as loans, credit cards, and savings accounts.

• They earn profits by charging interest on loans and investing in various financial instruments.

• Banks play a crucial role in the economy by facilitating transactions and providing liquidity.

• They are regulated by central banks and government agencies to ensure stability and prevent fraud.

• Examples of...read more

The working of a bank involves various activities such as accepting deposits, granting loans, providing financial services, and managing customer accounts.

• Banks accept deposits from individuals and businesses, which are then used to provide loans and investments.

• They offer a range of financial services including savings accounts, current accounts, credit cards, and loans.

• Banks manage customer accounts, process transactions, and provide online and mobile banking services.

• They ...read more

C is a procedural programming language while C++ is an extension of C with added features of object-oriented programming.

• C is a procedural language, while C++ supports both procedural and object-oriented programming.

• C does not have built-in support for classes and objects, while C++ does.

• C++ has additional features like inheritance, polymorphism, and templates that are not present in C.

• C++ allows function overloading and operator overloading, which are not supported in C.

• C++ ...read more

Banks earn money by charging interest on loans and by investing in various financial instruments.

• Banks charge interest on loans given to customers

• They earn interest on the money deposited by customers

• Banks invest in various financial instruments like stocks, bonds, and mutual funds

• They charge fees for various services like ATM usage, account maintenance, etc.

• Banks also earn money through foreign exchange transactions and credit card transactions

Yes, the government of India has launched several social security schemes.

• Pradhan Mantri Jan Dhan Yojana (PMJDY) - Financial inclusion program

• Pradhan Mantri Suraksha Bima Yojana (PMSBY) - Accidental insurance scheme

• Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) - Life insurance scheme

• Atal Pension Yojana (APY) - Pension scheme for unorganized sector

• National Social Assistance Program (NSAP) - Financial assistance to the elderly, widows, and disabled

• Pradhan Mantri Matru Vandan...read more

Copy constructor is a special constructor that creates a new object by copying an existing object.

• It is used to create a new object with the same values as an existing object.

• It takes an object of the same class as a parameter.

• It is used to avoid shallow copy and create a deep copy of the object.

• Example: class Car { Car(Car& c) { //copy constructor } }

• Example: Car c1; Car c2(c1); //c2 is a copy of c1

An inline function is a function that is expanded in line when it is called, rather than being executed as a separate function.

• Inline functions are used to improve the performance of a program by reducing the overhead of function calls.

• They are defined using the 'inline' keyword in C++.

• Inline functions are typically small and simple, as they are expanded at the call site.

• They can be used to replace macros in C++ to provide type safety and other benefits.

• Example: inline int sq...read more

The main theme of Shakespearean sonnets is love and beauty.

• Love and beauty are the central themes of Shakespearean sonnets.

• The sonnets explore various aspects of love, including romantic love, friendship, and the passage of time.

• Shakespeare often uses imagery and metaphors to convey the intensity of emotions associated with love.

• Some sonnets also address the concept of beauty and its fleeting nature.

• Examples of Shakespearean sonnets that highlight these themes include Sonnet ...read more

Forest percentage of India is around 24%. Deforestation, urbanization, and industrialization are the main reasons for its decrease.

• India's forest percentage is around 24% of its total land area.

• Deforestation, urbanization, and industrialization are the main reasons for the decrease in forest percentage.

• Afforestation and sustainable development are necessary to maintain the forest percentage.

• India has launched various afforestation programs like the National Afforestation Prog...read more

A bank is a financial institution that accepts deposits from the public and creates credit.

• Banks provide various financial services such as loans, credit cards, and savings accounts.

• They also facilitate transactions between individuals and businesses.

• Banks are regulated by government agencies to ensure stability and prevent fraud.

• Examples of banks include JPMorgan Chase, Bank of America, and Wells Fargo.

Repo rate is the rate at which RBI lends money to commercial banks and reverse repo rate is the rate at which RBI borrows money from banks.

• Repo rate is used to control inflation by increasing or decreasing the cost of borrowing for banks.

• Reverse repo rate is used to control the money supply in the economy.

• Currently, the repo rate in India is 4% and the reverse repo rate is 3.35%.

• If the repo rate is increased, banks will have to pay more interest to borrow money from RBI, whic...read more

Banking offers a challenging and dynamic career path with opportunities for growth and development.

• Engineering provided a strong foundation in analytical and problem-solving skills.

• Banking offers a diverse range of roles and responsibilities.

• The banking industry is constantly evolving and offers opportunities to learn and adapt.

• Banking provides a platform to contribute to the growth and development of the economy.

• Personal interest in finance and economics.

I am a Probationary Officer. I have knowledge about current and savings account and demand draft.

• My name is [Name] and I am a Probationary Officer.

• A current account is mainly for business transactions while a savings account is for personal use.

• A demand draft is a negotiable instrument used to transfer money from one bank account to another.

• Current accounts usually have higher transaction fees and require a higher minimum balance than savings accounts.

• Demand drafts are often ...read more

ICICI stands for Industrial Credit and Investment Corporation of India.

• ICICI is a leading Indian multinational banking and financial services company.

• It was established in 1955 as a joint venture between the World Bank, the Government of India, and Indian industrialists.

• ICICI Bank is the second-largest bank in India in terms of assets and market capitalization.

• The bank offers a wide range of banking products and services to its customers.

• ICICI Bank has a strong presence both ...read more

The major products of Muthoot Finance include gold loans, personal loans, and money transfer services.

• Gold loans

• Personal loans

• Money transfer services

The Union Budget Plan is a comprehensive financial plan presented by the government.

• The Union Budget Plan outlines the government's revenue and expenditure for the upcoming fiscal year.

• It includes allocations for various sectors such as education, healthcare, infrastructure, defense, etc.

• The budget plan also highlights the government's policy priorities and economic goals.

• It impacts various stakeholders including individuals, businesses, and the overall economy.

• The budget pla...read more

Repo rate is the rate at which the central bank of a country lends money to commercial banks.

• Repo rate stands for 'repurchase rate'.

• It is used by central banks to control inflation and liquidity in the economy.

• When the repo rate is high, borrowing from the central bank becomes expensive, leading to a decrease in liquidity and inflation.

• When the repo rate is low, borrowing from the central bank becomes cheaper, leading to an increase in liquidity and inflation.

• For example, if ...read more

Primavera P6 is a project management software used for planning, scheduling, and controlling large-scale projects.

• Primavera P6 helps in creating detailed project schedules with activities, resources, and timelines.

• It allows for tracking project progress, monitoring costs, and analyzing project performance.

• The software enables collaboration among team members and stakeholders, ensuring effective communication and coordination.

• Primavera P6 is commonly used in industries such as...read more

BRS stands for Bank Reconciliation Statement. It is a process of matching the balances in a company's accounting records with the bank statement.

• Compare the company's cash book with the bank statement to identify any discrepancies

• Adjust the balances for items such as outstanding checks, deposits in transit, bank charges, and interest earned

• Prepare a statement showing the reconciled balance for both the company and the bank

• Ensure that the ending balances match after adjustment...read more

CRR stands for Cash Reserve Ratio, which is the percentage of deposits that banks have to keep with the central bank.

• CRR is a monetary policy tool used by the central bank to control inflation and liquidity in the economy.

• Currently, the CRR in India is 4%.

• If the central bank increases the CRR, banks will have to keep more money with them, which reduces the amount of money available for lending and can lead to a decrease in inflation.

• On the other hand, if the central bank decr...read more

Bank PO stands for Bank Probationary Officer, who is responsible for managing various banking operations.

• Bank PO is an entry-level position in the banking sector

• They are responsible for managing customer accounts, loans, and other banking operations

• They also handle administrative tasks such as record-keeping and report generation

• Bank POs are expected to have good communication and leadership skills

• Examples of banks that hire POs include State Bank of India, ICICI Bank, and HD...read more

Repo rate is the rate at which the central bank lends money to commercial banks, while reverse repo rate is the rate at which the central bank borrows money from commercial banks.

• Repo rate is used by the central bank to control inflation and liquidity in the economy.

• Reverse repo rate is used to absorb excess liquidity in the market.

• For example, if the repo rate is increased, it becomes more expensive for banks to borrow money from the central bank, leading to a decrease in mo...read more

IMF and World Bank are international financial institutions that provide loans and assistance to member countries.

• IMF provides short-term loans to member countries facing balance of payment problems.

• World Bank provides long-term loans and grants for development projects.

• Both institutions also provide technical assistance and policy advice to member countries.

• IMF and World Bank were established in 1944 at the Bretton Woods Conference.

• IMF has 190 member countries while World Ba...read more

During the pandemic, I developed skills in adaptability, remote communication, and time management.

• Adaptability: I learned to quickly adjust to changing circumstances and work from home.

• Remote communication: I became proficient in using video conferencing tools and communicating effectively with colleagues and clients remotely.

• Time management: I learned to prioritize tasks and manage my time effectively while working from home.

NRI banking refers to banking services provided to Non-Resident Indians (NRIs) who live abroad but maintain financial connections with their home country.

• NRI banking offers various services like NRI savings accounts, NRI fixed deposits, NRI loans, and NRI remittances.

• NRIs can open NRI accounts in Indian banks to manage their finances and investments in India.

• These accounts can be in the form of NRE (Non-Resident External) accounts, NRO (Non-Resident Ordinary) accounts, or FCN...read more

Banking offers stability, growth opportunities, and a chance to contribute to the economy. RBI norms ensure financial stability and regulation.

• Banking provides stability in terms of job security and growth opportunities.

• Opportunity to contribute to the economy by facilitating financial transactions and investments.

• RBI norms ensure financial stability, regulation, and protection of customer interests.

• Career growth prospects in banking sector are promising with opportunities fo...read more

Finance is the management of money and investments.

• Finance involves the allocation and management of funds.

• It includes activities such as budgeting, investing, and financial planning.

• Finance helps individuals and organizations make informed decisions about money.

• Examples of finance include banking, stock markets, and personal financial management.

Marketing is the process of promoting and selling products or services to customers.

• Marketing involves identifying customer needs and wants.

• It includes creating and delivering value through products or services.

• Marketing strategies can include advertising, pricing, distribution, and branding.

• Market research helps in understanding customer preferences and competition.

• Examples of marketing activities include social media campaigns, TV commercials, and email marketing.

Venture capital is a type of funding provided to early-stage companies with high growth potential in exchange for equity.

• Venture capital is typically provided by investors or venture capital firms.

• It is used to support startups and small businesses that have the potential for rapid growth.

• Venture capitalists take on high risk in exchange for potential high returns.

• They often play an active role in the companies they invest in, providing guidance and expertise.

• Examples of succ...read more

Insurance provides financial protection against unexpected events, ensuring peace of mind and security for the future.

• Insurance helps protect against financial losses due to unforeseen events like accidents, illnesses, or natural disasters.

• It provides a safety net for individuals and families by covering costs for medical expenses, property damage, or liability claims.

• Insurance offers peace of mind by reducing the financial burden of unexpected events and ensuring a secure fu...read more

Banking ombudsman resolves complaints against banks and ensures fair practices.

• Resolving customer complaints against banks

• Ensuring fair practices by banks

• Investigating and resolving disputes related to banking services

• Providing a cost-effective and speedy resolution to complaints

• Promoting customer awareness about banking practices and their rights

• Monitoring the functioning of banking services and suggesting improvements

• Examples: ATM and debit card issues, non-adherence to KYC...read more

The governor is the head of the state government and is responsible for implementing state laws and policies.

• The governor is elected by the people of the state

• The governor has the power to veto legislation passed by the state legislature

• The governor is the commander-in-chief of the state's National Guard

• Examples: Governor Gavin Newsom of California, Governor Greg Abbott of Texas

The latest economic situation is characterized by a global recession due to the COVID-19 pandemic.

• Global recession caused by the COVID-19 pandemic has led to a sharp decline in economic activity worldwide.

• Many countries have implemented stimulus packages to support businesses and individuals affected by the crisis.

• Unemployment rates have surged in many countries as businesses struggle to stay afloat.

• Stock markets have been volatile, with significant fluctuations in response t...read more