Bank Interview Questions

The nationalisation of banks in India took place in 1969 by Mrs. Indira Gandhi the then prime minister. It nationalised 14 banks then. These banks were mostly owned by businessmen and even managed by them. Before the steps of nationalisation of Indian banks, only State Bank of India (SBI) was nationalised. It took place in July 1955 under the SBI Act of 1955.

Nationalisation of Seven State Banks of India (formed subsidiary) took place on 19th July, 1960.

1955 : Nationalisation of State Bank of India.
1969 : Nationalisation of 14 major banks.
1980 : Nationalisation of seven banks with deposits over 200 crores.

Tally package is developed by Tally Solutions. 

Tally Solutions, then known as Peutronics, was co-founded in 1986 by Shyam Sunder Goenka and his son Bharat Goenka.

The way in which a bank keeps money in a deposit account in the same way the Depository company converts share certificates into electronic form and keep them in a Demat account.

Gross Domestic Product : 

It is the total value of all final goods and services produced within the boundary of country during the given period of time. 

Gross National Product :

It is the total value of the total output or production of final goods and services produced by the nationals of a country during a given period of time. 

Gross National Income : 

It is the total domestic and foreign output claimed by residents of a country, consisting of gross domestic product (GDP) plus factor incomes earned by foreign residents, minus income earned in the domestic economy by non-residents.

Net National Product :

The total value of goods produced and services provided in a country during one year, after depreciation of capital goods has been allowed for.

If an outstanding check of the previous month clears the bank (is paid by the bank) in the current month, you simply remove that check from the list of outstanding checks.

If an outstanding check of the previous month does not clear the bank in the current month, the check will remain on the list of outstanding checks until the month that it does clear the bank.

In the bank reconciliation process, the total amount of the outstanding checks is deducted from the balance appearing on the bank statement.

Tally is one of the best business accounting software for accounting, inventory, payroll. It is economical and one of the most popular ERP software solutions available in the industry.

Tally, an accounting software was developed by the multinational company TCS - Tata Consultancy Services.

CRR or Cash Reverse Ratio is the amount of money that a commercial bank has to keep with the Reserve Bank of India. If the bank increase CRR then the amount with RBI comes down and vice-versa.