Cracking Bank Interview Questions with Answers Set-4

    Cracking Bank Interview Questions with Answers Set-3
    Cracking Bank Interview Questions with Answers Set-4:
    Dear Readers, Here we have given the list of important Bank Interview Questions, Candidates can use these questions for the preparation. More questions will be updated soon.

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    1).The Government of India is struggling to achieve the fiscal deficit targets. What exactly is fiscal deficit?
     Answer: In simple terms fiscal deficit, means excess of government disbursement comprising current and capital expenditures over its current receipts.

    2).Who is responsible for the preparation and presentation of Union budget to the Parliament?
    Answer: Department of economic affairs, ministry of finance, is responsible for presentation of Union budget to the parliament.

    3).What is appropriation bill?
     Answer: It is the bill that authorizes payment and appropriation of expense from the consolidated fund. This bill is introduced only after the general discussion on budget proposals and the completion of voting on grants. The procedure to pass the bill in parliament is like any other money bill.

    4).What is balance on Capital Account?
     Answer: A country’s receipts minus payments for capital account transactions.

    5). What is balance on Current Account?
    Answer: A country’s receipts minus payment for current account transactions, equals the balance of trade plus net inflows of transfer payments.

    6).What do you understand by the term disinvestment?
     Answer: Government makes a number of investment in public sector undertaking. When it dilutes its stake in these undertakings, it is defined as disinvestment.

    7). What is National Debt?
     Answer: The term national debit is the amount borrowed by the Central Government in order to finance the budget deficit.

    8).What is Capital Budget?
     Answer: The budget comprises of loans and advances that are granted to Union and State Territory by the Union Government, corporations, government companies and other parties. Capital budget also includes capital receipts and payments by the government.   

    9).What is Direct Taxes Code Bill?
    Answer: The direct taxes code bill became effective from 1st April, 2012. It calls for the simplification of tax structure, no additional and raises the exemption limit of income tax to Rs.2 lakh.

    10).What is Goods and Service Tax (GST)?

    Answer: The Central Government has done away with central sales tax in a phased manner and introduced the new tax called goods and service Tax, which will be applicable throughout India by August, 2012 at standard rate of 12%. Service tax confronts challenge of its share being below its potential, complexity in law and need to bring it closer central excise law for eventual transition to goods and service tax.

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