IBPS PO: INTERVIEW EXPERIENCE 20

NAME: KARTHIK RAJ
B.A NAME: Kaa.Raa
VENUE: COIMBATORE,TAMILNADU.

( Having read interview experiences of the previous day candidates, I’m a bit nervous about my turn. So I watched  AR RAHMAN’S OSCAR speech video before entering the room. In that speech AR RAhman said “MERE PASS MA HAI”  then I said to myself “MERE PASS IBPS CLERK HAI” 
INTERVIEW PANEL consists of a Lady and three gentlemen . All of them are senior bank officials of IOB.
Personal Questions:
M1 (I thought he would be the panel head as he wore a perfect Tie),Where are you from?
Me: Explained
M1: Tell us about your family?
Me: Explained
M1: When you completed your graduation?Me: 2013 sir
M1: What are you are doing for the past 2 years ?
ME: I was looking  for  job and couldn’t get one related to my core sector (ECE).Then I started my preparation  for  banking exams.
M1: Is this your First banking interview?
ME: No sir I’ve had 2 interviews before.
M1: So you know more about banking?
Me: ( Ahaaan  ) that mixed facial expression .
BANKING ROUND/  RAPID FIRE Questions
M1: Can you tell us what are the changes made in BANKING sector for the past 10 Years?
ME: Sir the calculating method of BASE RATE changed to MCLR initially it was BPLR.
M1: Leave that , Any other changes?
Me: Sir RBI gave in principle approval to specialized banks for FINANCIAL INCLUSION and RBI changed PSL norms.
M1: Okay ,What is  SPECIALIZED BANKS?
ME: Small and Payment banks 
M1: What is the difference between them?
Me: Sir payments bank has a limit of Rs.1 lakh on deposit per individual ,small  banks do not have limit. Payments banks cannot lend, while small banks can give loans. 
M1 : Why they are called small banks?   What is the need for them ? how they are different from COMMERCIAL BANKS?
Me: Sir, main purpose of small banks is to expand financial services to rural and unbanked areas (financial Inclusion again) . These banks can do almost everything  that a commercial bank can do. But  at a much SMALLER SCALE.It  will offer banking services, accept deposits and lend to its customers, including small farmers,MSME industries.
( I missed some points which they were expecting)
Then m2 started  questioning
M2: What are the types of TAXES?
Me: Direct Tax and Indirect Tax
M2: WHAT IS DIRECT TAX and WHAT IS INDIRECT?
Me: Direct tax is imposed directly on the taxpayer and paid directly to the government by the person, E.g.  INCOME TAX, WEALTH,PROPERTY TAX.Tax on Consumption  paid by consumer to an intermediary who collects taxes on consumption on behalf of government is called Indirect tax. E.g. SALES TAX , VAT , EXCISE and CUSTOMS.
M2: These Taxes are collected by whom ?
Me: Income tax is collected by CENTRAL,But some taxes are shared by both Central and State,E.g. Service Tax and State VAT
( I forgot to mention about CBDT,CBEC )
M2 pass the baton to M3
M3: WHAT IS PLASTIC PURSE?
Me: ?!!! (  I can’t get over because  I’m hearing this term for the First time)
 Sir is it PLASTIC CARD?

M3: ( He gave me a half smile )
Me: Sir it is ATM CARD,DEBIT CARD.. {M2 interrupted}
M2: WHAT IS THE USE OF ATM CARD ?
Me: Any time Anywhere Banking sir.
M3: So we can get the money without going to the bank?
Me: yes sir .
M4: Is there any new scheme for microfinance?
Me: Yes mam MUDRA Scheme..
F4: Explain that?
Me: Mam, There are three schemes in mudra
Shishu:  covering loans up to Rs 50,000
Kishore: covering loans above Rs 50,000 and up to Rs. 5 lakh
Tarun: covering loans above Rs 5 lakh and up to Rs. 10 lakh
M4: To whom they provide loan?
Me: It is for Economically weaker sections of the society,and People who depend for money from microfinance Mam.
( Exact answer is MSME Sector,MFI )
M4: Are you sure ? Will they lend to New One or someone who got loan already ?
Me: she expected a precise LINE from MUDRA Scheme but I couldn’t recollect that during interview.
M1+M3 : That’s all .. you can leave now .All the best.
Thank you all.
This interview lasted for 5-6 minutes . The panel members were amicable but unhumorous.
After coming out of the room I Googled MUDRA and its Tag line is “FUNDING THE UNFUNDED”
I Hope this would be helpful for those who are having interview in the near future. 
GIVE YOUR BEST .
All the best guys!!!