IBPS PO VIII Interview Experience – 12 | Hermu

Disqus ID: Hermu
Date & Time: 04-02-2019, 8:30 AM
Venue: BOM STC, Pune
Qualification: M.Sc Mathematics

Max Interview was taken by  M1 (Head Panelist), M2 and a lady F1, others were just observing.

“Wished Everyone Good Morning”
Started with Introduce yourself then Whats your job at your branch (As I said I am currently working As a clerk in Bank of India). There were few YesNo type questions at first like:
  • Can we open TD Jointly? 
  • Can we issue ATM/ Cheque book to minors etc?
  • How much I will be charged if I don’t pay my credit card dues? 
  • Do you have Credit card?
  • Have you read today’s newspaper?

M1: What is Nomination?
ME: It is facility given to depositor that they can nominate any person as a nominee to whom deposit can be given after death of depositor, It comes under section 45ZA of Banking Regulation Act, banks get valid discharge by transferring that amount.
M1: As you said, Banks get valid discharge by transferring that amount, is nominee owner of that money?
ME: No Sir, He is just caretaker of that money , Legally bound to transfer it to legal heirs.
M1: (corrected me) He is not caretaker, He is “trusty” of that money.

F1: Can we nominate more than one person for single account?
M1: What is MCLR?
ME: MCLR stands for Marginal cost of fund based lending Rate, bascially there are 2 factors which determines it, 92%-Marginal cost of fund i.e. At what cost bank got that money and 8% comprises of 3 factors again and those are Operating cost, Cost to carry CRR, Tenor premium.
(There was one cross question over it , which I couldn’t answer)
M1: There is one term called Confidentiality in banks , so in what circumstances banks can share Information about customer?
ME: When Customer is willing to do so or when Police authority asked for it.
M1: See, There is CBS in all branches , So, Any staff sitting at any branch can see Transaction done by any customer anywhere So, Isn’t this breach of that confidentiality
ME: I got bit confused, Just ended saying Sir, its just there should not be Any misuse of the information, But He was not satisfied with my answer

M2: What is Consortium and Syndication?
ME: These are the terms used when Multiple banks Finance to single borrower But when it involves different currency and International transactions , its called Syndication.
M1: What is EMI?
ME: Sir, Its Equated Monthly Installment.
M1: How to calculate it?
ME: There is formula for that, (As I couldn’t get what he was asking exactly), so ended saying I just read about it in Accounting paper in JAIIB.
M1: (Very Curiously) So Are You preparing for JAIIB?
ME: Sir, I’ve already cleared it ( Lady panelist interrupted saying Sir, She has already completed 1.5 years of service in her bank) So, M1 said then, You can become officer in your own bank. Then I said Sir, I’ll be eligible for it next year that too depends upon the vacancy.
M2: When Bank deduct TDS on FD?
ME: When Interest Income exceeds , earlier it was 10,000 now its Rs.40,000
M2: At What Rate?
ME: @10%
M2: What is dormant account and freeze account?
ME: Answered.

M1: Your Bank came out of PCA Last week, How?
ME: Sir, Bank performed well On all parameters Except on Negative ROA, Net NPA of our bank is reduced and CRAR is improved , our bank has given commitment to RBI That it’ll comply with PCA Norms and Also GoI has given assurance that Capital requirement of this will be taken into consideration. (Here, M-1 Asked exact Net NPA %)
Then there were 3 questions on my academics.

M2: What is Lattice theory, what is discrete Mathematics and what is fuzzy Mathematics.
ME: Answered first two shortly and then explained fuzzy mathematics as- Fuzzy Mathematics is branch of Mathematics which deals with study of Fuzzy set theory and Fuzzy logic, A fuzzy subset A of X is a function A:X tends to L in the interval ….( No Cross Question over it)
M1: Was just waiting me to finish my answer, He said Well, You decided to work in bank only?
ME: Yes Sir.
M1: So, Who is Your Role Model?
ME: Honestly, I wasn’t prepared for it. Answered like – Sir, First of all, My parents, then  Chhatrapati Shivaji Maharaj is my role model. He is symbol of excellence and One should always try to be Shivaji of his field. This is what I feel.
M1: Aur bolo, Anyone from Banking Industry?
ME: Not role model, But Yes , I do follow Mr Raghuram Rajan and Mr. Urjit Patel, I read all about them.
M1: Not Shaktikanta Das? And they all started laughing.
M1: Thank you! All the Best And good day.

It lasted for 20-25 minutes.There were few Personal questions too like Fathers occupation, my place of posting , and about my current branch. 

All The Best Hermu!

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