Here I am providing important interview questions of Union Bank of India:

Union Bank of India Important Interview Questions

Where was the Head Quarters of Bank of india located ?
A)Bandra (East),Mumbai.

Bank of india Line ?
A) “Banking services with an attitude of care and concern for the customers and patrons”

could you tell about Network of Bank of india?
A) The Bank has 3101 branches in India spread over all states/ union territories including 141 specialised branches. These branches are controlled through 48 Zonal Offices . There are 29 branches/ offices (including three representative offices) abroad.

Why do you choose clerk job as your career ?
A)You just say, “Job Security and Job in Bank of India is a privilege and it is a service to nation”

What do you think of the responsibilities / duties of a clerk job in the banking sector ?

How do you prove yourself as a successful employee ?

Who is the Chairman of Bank of india ?
A) Shri. Alok Kumar Misra

When was nationalised Bank of india?
A) July 1969

Tell us about yourself ?
A)Introduce yourself , your education, your current job,etc in a short and sweet manner.

Tell us about your schooling background ?

Tell us about your academic career ?

What are your hobbies ?

What are the primary functions of a commercial bank ?
A)The primary functions of a commercial bank include:
a) accepting deposits; and
b) granting loans and advances

What are the salient features of Indian Banking Sector ?

Tell some of the Qualitative methods used by RBI for credit control in the country ?

Tell some of the Quantitative methods used by RBI for credit control in the country ?

What is Bank rate ?
A) A Bank rate is the interest rate that is charged by a country’s central or federal bank on loans and advances to control money supply in the economy and the banking sector. This is typically done on a quarterly basis to control inflation and stabilize the country’s exchange rates. A fluctuation in bank rates triggers a ripple-effect as it impacts every sphere of a country’s economy. For instance, the prices in stock markets tend to react to interest rate changes. A change in bank rates affects customers as it influences prime interest rates for personal loans.

What is Cash Reserve Ratio – CRR?
A)The Cash Reserve Ratio (CRR) refers to the liquid cash that banks have to maintain with the Reserve Bank of India (RBI) as a certain percentage of their demand and time liabilities. For example if the CRR is 10% then a bank with net demand and time deposits of Rs 1,00,000 will have to deposit Rs 10,000 with the RBI as liquid cash.

When did the bank came into existence ?
A) 7th September, 1906

What was the Bank of india initial name?
A)

Can you explain the reforms that taken place in the Indian banking industry ?
A) The Narasimham Committee laid the foundation for the reformation of the Indian banking sector.Constituted in 1991, the Committee submitted two reports, in 1992 and 1998, which laid significant thrust on enhancing the efficiency and viability of the banking sector.

What are the functions of Reserve Bank of India ?
A)Mainly the functions of RBI are classified as follows:
Bank of Issue
Banker to Government
Bankers’ Bank and Lender of the Last Resort
Controller of Credit
Custodian of Foreign Reserves
Supervisory functions
Promotional functions

What Is Inflation?
A)Inflation is increase in price of products & decrease in value of money.

Difference between Repo rate and Bank rate?
A)The Main difference between Repo rate and Bank rate is that Repo rate is the discounting offered by the RBI on the monetary bill hold by the Banks

What is Statutory Liquidity Ratio – SLR ?
A)Statutory Liquidity Ratio refers to the amount that the commercial banks require to maintain in the form of cash, or gold or govt. approved securities before providing credit to the customers. Statutory Liquidity Ratio is determined and maintained by the Reserve Bank of India in order to control the expansion of bank credit.

What is Repo rate ?
A)Whenever the banks have any shortage of funds they can borrow it from the central bank. Repo rate is the rate at which our banks borrow currency from the central bank. A reduction in the repo rate will help banks to get Money at a cheaper rate. When the repo rate increases borrowing from the central bank becomes more expensive.The Reverse repo rate is the rate at which the central bank borrows from the banks, while the Repo rate is the rate at which the banks borrow from the central bank.

Can you explain the terms National bank, Scheduled bank, Commercial bank, Cooperative bank, Private bank, Foreign bank ?