QUESTIONS AND ANSWERS







1. Why do you want to join banking sector?



Banking is one of the fastest growing sectors in India with more stable and high growth and more over providing a wide range of career opportunities for graduates. So I want to take an opportunity to join in a bank.



2. What is the difference between Cheque and Demand Draft?



Cheque: Cheque is a negotiable instrument instructing a bank to pay a specific amount from a specific account held in the maker/depositor name with that Bank.



Demand Draft: A demand draft is an instrument used for effecting the transfer of money. It is a negotiable instrument.



3. What is a Non-Banking Financial Company (NBFC)?



A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act, 1956 engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures /securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business but does not include any institution whose principal business is that of agriculture activity, industrial activity, purchase or sale of any goods other than securities) or providing any services and sale/purchase/construction of immovable property. A non-banking institution which is a company and has a principal business of receiving deposits under any scheme or arrangement in one lump sum or in installments by way of contributions or in any other manner is also a non-banking financial company (Residuary non-banking company).



 


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