INTERESTING FACTS I BET YOU NEVER KNOW ABOUT BANKING
Have you ever wondered about these kinds of questions? Learn interesting information about banks and banking by reading this page. Given below are some interesting facts about banking:
- A debit card error
Due to a malfunction with their debit card payment processing, a guy was unintentionally charged 23 quadrillion dollars.
- A Special Kind of Collateral
Parmesan cheese is accepted as loan security by a local bank in Italy!
The wheels of cheese are kept by the bank in its own vaults, which are maintained at the ideal temperature for the cheese to mature.
- The Biggest Key, third
You require a key that is available from the Bank of England to open the enormous vault doors 3 feet long!.
- Antarctica’s currency
Two ATMs are located in Antarctica. They are both run by Wells Fargo. That is undoubtedly one of the most fascinating banking facts!
- The Biggest Bank Robbery
Saddam Hussein stole about a billion dollars from the Iraqi central bank just a day before the Iraq war started. One of the biggest bank robberies in history took place here.
Banking as a career option
Although there are many attractive positions in banking that pay well and provide job security, getting ready for a career in banking typically entails graduating with a degree in finance, economics, banking, or commerce and passing bank tests.
A bachelor’s degree with a concentration in either business or management is the bare minimum requirement for employment in the banking industry. You must also learn numerical aptitude, general awareness, reasoning, English, and fundamental computer skills in order to ace bank tests if you want to work in banking! For information on how to begin a career in banking, as well as the best programmes, positions, and salaries, read this blog!
Banking is a broad field that offers a wide range of career opportunities. From customer service to investment banking, there are various roles that individuals can consider. Here is a list of some career options in banking:
Customer Service Representative:
Customer service representatives are responsible for interacting with customers and assisting them with their banking needs, including opening accounts, processing transactions, and answering inquiries.
Teller:
Teller’s main responsibility is handling money transactions, including depositing and withdrawing cash and checks. They are often the first point of contact for customers and are expected to provide excellent customer service.
Loan Officer:
Loan officers assist clients in securing loans for personal, business, or mortgage purposes. They evaluate clients’ financial situations and make recommendations on the most appropriate loan options.
Investment Banker:
Investment bankers are responsible for advising companies on mergers and acquisitions, as well as helping companies raise capital. They also assist with IPOs and other financial transactions.
Financial Analyst:
Financial analysts are responsible for analyzing financial data and making recommendations to clients or management based on their findings. They use financial models and other tools to determine the value of investments or potential investments.
Compliance Officer:
Compliance officers ensure that banks comply with government regulations and industry standards. They monitor transactions to detect any illegal or suspicious activity and implement policies and procedures to prevent fraud.
Risk Manager:
Risk managers are responsible for identifying and assessing potential risks that could negatively impact a bank’s operations or financial position. They also develop strategies to mitigate these risks.
Operations Manager:
Operations managers oversee the day-to-day operations of a bank, including managing staff, coordinating workflow, and ensuring compliance with regulations and policies.
Branch Manager:
Branch managers oversee the operations of a specific branch of a bank. They are responsible for managing staff, setting sales targets, and ensuring that the branch meets its financial goals.
Financial Planner:
Financial planners work with clients to create financial plans that help them achieve their goals, such as saving for retirement or paying off debt. They evaluate clients’ financial situations and make recommendations on investment strategies and asset allocation.
Bank exam preparation
Top 6 methods for self-study bank test preparation
How can I study on my own to prepare for bank exams? Here are the top six banking preparation suggestions provided by professionals:
know the format and content of bank exams
Candidates need to be familiar with the bank exam curriculum and pattern because doing so will enable them to plan out their bank test preparation approach from the very beginning.
Make a study schedule.
Aspirants must create a study strategy after learning the exam format and syllabus. To easily pass the sectional cutoffs, your study strategy must be focused on your strong and weak areas.
Take practise exams
To hone their skills, candidates must complete most tests and practise papers. The exercises they must complete range from sectional to topical to chapter-based.tests.Candidates will gain a better understanding of the questions’ types, levels of difficulty, and typical issues from prior trends by completing the mock exam.
Attempt practice sets and previous year’s papers.
Candidates must complete the previous year’s paper since doing so will enable them to analyze crucial subjects from the perspective of the exam and will also help them get familiar with the exam’s requirements.
Concentrate on each Section in a Topic-by-Topic Manner
Simply studying without understanding the topic-specific questions might eventually cause your preparation to lag.Given that the weight of each segment is nearly similar, this will enable you to rapidly respond to questions on any subject.
Focus on Preparing for Bank Interviews
In addition to the preliminary and main rounds, some bank exams included an interview or personality test. Candidates will take a test to gauge their interpersonal and communication skills. These connected links can assist candidates prepare for the exam. pertinent inquiries pertaining to banking
Bank exam syllabus
Banking exams are conducted to recruit candidates for various positions in the banking sector, such as probationary officers, clerks, specialist officers, and others. These exams require candidates to have a thorough understanding of various banking and financial concepts and their practical applications. The syllabus for bank exams is vast and covers a wide range of topics related to finance, economics, and banking operations
The bank exam syllabus typically includes topics such as quantitative aptitude, reasoning ability, English language, computer knowledge, and general awareness. The quantitative aptitude section tests a candidate’s ability to solve mathematical problems, while the reasoning ability section evaluates their logical and analytical skills. The computer knowledge section evaluates a candidate’s knowledge of computer applications and basic programming concepts. Finally, the general awareness section covers topics related to current affairs, economics, banking, and finance
Students can refer to the following exam syllabus to widen their knowledge of banking exams.
IBPS RRB PO Syllabus
IBPS Clerk Syllabus
RBI Assistant Syllabus
IBPS RRB PO Mains Syllabus
IBPS SO Marketing Officer Syllabus
Bank Exams 2023 List
The Exam Dates of the upcoming bank exams 2023 are to be released soon. Aspirants who want to get a reputed bank job in 2023 in a public sector bank, should go through the full list of ongoing and upcoming bank exams in 2023 here. We have shared here the detailed information of the top bank exams conducted by the IBPS, SBI and RBI such as IBPS PO/Clerk/SO/RRB, SBI PO/Clerk/SO and RBI Assistant/Grade B Officer and state Cooperative Banks.
Have a look at the complete Bank Exam Notification details such as online application, eligibility criteria, vacancies, selection process, exam pattern, syllabus and other details by clicking on the exam links mentioned below.
For the purpose of hiring people for different roles, multiple bank tests are held in India. Listed here are some of the important bank exams:
- SBI Clerk (State Bank of India Clerk) and SBI PO (State Bank of India Probationary Officer)
- The Institute of Banking Personnel Selection (IBPS) offers three levels of employment: IBPS PO (Probationary Officer), IBPS Clerk (Clerk), and IBPS RRB (Regional Rural Banks).
- Reserve Bank of India Grade B Officer (RBI Grade B Officer)
- Reserve Bank of India Assistant (RBI Assistant)
- Officers in Grades A and B of the National Bank for Agriculture and Rural Development (NABARD)
- Assistant Administrative Officer for Life Insurance Corporation (LIC AAO)
These exams have various eligibility requirements, exam formats, and administration schedules, and they are conducted annually. For further information, it’s crucial to read the official announcement of the exam you’re considering.
Conclusion
As you are aware, all bank tests are conducted annually for interdepartmental advancement or direct hiring. Thus, you must create a bank test preparation approach based on your personal tastes and needs. Put your attention on quickly and accurately answering question banks and prior bank papers. Plan to address the simpler problems before tackling the more difficult ones. Finally, note the duration of your study period and create a daily, weekly, monthly, or yearly study schedule in accordance.
For the applied exam, it is essential to take notice of the analysis of prior years’ bank exams in order to comprehend the section-by-section approach. GK is typically the highest scoring component, followed by Quant and Reasoning, according to aspirants. You can determine the topical weighting and number of points by analyzing this.
Frequently asked questions
Q1. What is the eligibility criteria for bank exams?
Answer: The eligibility criteria for bank exams vary depending on the specific exam. However, the general eligibility criteria include:
- Citizenship: Indian citizen or a citizen of Nepal/Bhutan or a Tibetan refugee.
- Age limit: The minimum age limit is 20 years and the maximum age limit is 30 years.
- Educational Qualification: The candidate must have a Bachelor’s degree from a recognized university.
Q2. What are the different bank exams conducted in India?
Answer: Some of the popular bank exams conducted in India are:
- IBPS PO (Institute of Banking Personnel Selection Probationary Officer)
- SBI PO (State Bank of India Probationary Officer)
- IBPS Clerk
- SBI Clerk
- RBI Assistant
- IBPS RRB (Institute of Banking Personnel Selection Rural Regional Bank)
Q3. What is the selection process for bank exams?
Answer: The selection process for bank exams usually includes a written exam, followed by a personal interview. Some exams may also include a group discussion round.
Q4. What is the syllabus for bank exams?
Answer: The syllabus for bank exams usually includes topics such as Quantitative Aptitude, Reasoning Ability, English Language, General Awareness, and Computer Knowledge.
Q5. What is the exam pattern for bank exams?
Answer: The exam pattern for bank exams varies depending on the specific exam. However, the general pattern includes objective-type questions with multiple-choice options.
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