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Interview Questions on Ancillary Services

  1. What do you understand by Ancillary Business?
    Ans: It is a supporting business to main business of the banks.

  2. Can you give some examples?
    Ans: Transfer of funds from one place to another, collection of cheques for customers, locker services are some examples.

  3. 5) What are RTGS and NEFT?
    Ans: Real Time Gross Settlement and National Electronic Fund Transfer systems.

  4. What do you know about cheque bouncing?
    Ans: When a cheque is returned because balance in the account is insufficient, then it is called cheque bounce.

  5. How banks clear cheques for customers?
    Ans: Local cheques are cleared through clearing house and other cheques by sending to their own branches, in respective places. If no branch is established, cheques are sent directly to the other bank branch.

  6. For how many days a cheque is valid?
    Ans: Three months from date of the issue of cheque.

  7. What is a stale cheque?
    Ans: Three months after the date of issue cheque is called a stale cheque.

  8. What is a Post dated cheque?
    Ans: In a simple way, if a cheque dated tomorrow is presented today, then it is a post dated one.

  9. What is the difference between an open cheque and crossed cheque?
    Ans: Payment of an open cheque is done to the payee / bearer or endorsee, where as a crossed cheque is to be put through an account.

  10. Can you tell something about locker service?
    Ans: Yes sir. Safe Deposit Lockers are hired to customers against full KYC compliance. Rent will be collected annually in advance. Customer is given a key to operate.

  11. Can customer himself operate?
    Ans: No sir, there will be a master key with the bank.

  12. Lockers are given to which type of customers?
    Ans: Lockers are generally given to Individual and joint account holders.

  13. What about firms or trusts?
    Ans: Yes sir, firms, trusts and companies also can hire lockers.

  14. Is nomination available for locker accounts?
    Ans: Yes, it is available.

  15. Can a minor be nominated for locker a/c?
    Ans: No, minor cannot be nominated.

  16. Can a bank, break open a locker?
    Ans: Yes, under special cases.

  17. What are they?
    Ans: i) when a customer doesn't operate locker for unduly longer durations and not respond to notices.
    ii) When rentals are in arrears and does not respond to banks.

  18. What are the timings for operating lockers?
    Ans: Each bank may fix its timings. But access is not given after banking hours.

  19. Can you tell me something about portfolio management?
    Ans: When a customer has some amount at his disposal and wants better returns, banker by virtue of his experience gives advice how to maximise income by minimising risk.

Hope you found it useful!!! Thanks and all the best.

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