Dear Aspirants
IBPS PO V interview is just a week away. You must have been preparing hard for the same. So to help your preparation we have framed some Expected questions from our Interview Exercises with the best answers given to that question by our sincere readers.
To every question there are 2 sample answers, you can choose the either way of answering the question. We hope that will benefit you.
Qs 1. What is Financial Inclusion? Which schemes are launched by the government to boost the financial inclusion drive in the country?
Sample Answer – As given by Aasma
Financial Inclusion can be defined as the process of ensuring access to appropriate financial products and services needed by all sections of the society in general and vulnerable groups such as weaker sections and low income groups in particular at an affordable cost in a fair and transparent manner.
RBI and Financial Inclusion:
* No-Frill accounts/ Basic Savings Bank Deposit Account opened with *Simplified ‘Know Your Customer’ Norms offering * Easy Credit Facilities. * Business Correspondents (BCs) and * Simplified Branch Authorization, * Opening of Branches in Unbanked Rural Centers and the two types of differentiated banks i.e. the * Payment Banks and the Small Finance Banks.
GOI and Financial Inclusion:
Pradhan Mantri Jan Dhan Yojana, A Basic Banking Accounts with overdraft facility of Rs.5000 and RuPay Debit card with inbuilt accident insurance cover of Rs. 1 lakh and RuPay Kisan Card & in next phase, micro insurance & pension i.e. “Pradhan Mantri Suraksha Bima Yojana” (accident insurance), “Pradhan Mantri Jeevan Jyoti Yojana” (life insurance) and “Atal Pension Yojana” were launched for inclusive growth. Other schemes include – Re-launch of Modified Direct Benefit Transfer for LPG Consumers (DBTL) Scheme – Seeding of Aadhaar number in bank account, Launch of Mudhra Bank etc.
OR
As given by Iron man
Financial inclusion means bringing more and more needy people under affordable financial services. By financial inclusion people who are deprived from banking benefits like getting interest, security of money and many more on their unused money will be covered. For financial inclusion government has launched many schemes like Pradanmantri Jan Dhan Yojana, Atal pension Yojana, BSBDA etc. By these schemes more and more people will be covered under financial inclusion and indirectly our economy will also get a boost.
Qs 2. In many newspapers we read that RBI decreased Repo Rate by 50 or 25 basis points. So, how it will affect the Indian Economy?
Sample Answer – As given by Saurabh
If RBI decreases repo rate means banks can take loan from RBI at a lower interest rate that will inject more liquidity in the market, because if banks get loans at a lower rate then automatically they will also reduce the interest rate for the customers. This way customer will have more money to spend on essential commodities as well as other important things like two wheelers, four wheelers and electronic items which ultimately stimulate economic growth by driving the manufacturing sectors.
OR
As given by Risha Jaiswal
Repo Rate is the rate at which RBI lends short term money to the banks. If RBI decreases the repo rate the banks will also decrease their respective rates. This in turn will make loans cheaper for the customers. Consumer spending will increase; prices of goods will decrease as cheaper loans will reduce the cost of capital of manufacturers. Overall there will be liquidity in the market leading to growth. However a negative impact of decreasing repo rate would be that people will spend more and save less also causing inflation.
Qs 3. How your knowledge & education will helpful in banking sector?
Sample Answer – As given by Rishi Raj
Engineers are good at analytical skills as well as performing under pressure, besides I am a software engineer by qualification. So apart from serving customers in their banking needs my technical knowledge and skills will be helpful as most of the baking services these days are IT enabled.
OR
As given by abhi1103
As you know already that i have done B.Tech . So wherever technical skill required i could be of great help. And according to me engineering is not only limited to degree or curriculum but it is linked to the way of thinking. For success of any thing it should be well engineered. E.g. society, working place and many more. So my B.Tech education has taught me to do smart job in limited resources.
Thanks!
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