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Model Interviews 5

Mr Anil Bathla is a Candidate for the recruitment of Bank Probationary Officer. He is soberly dressed, has a pleasant personality and becomes friendly with the other candidates while waiting for the interview.
 
Candidate
(Enters the hall and says with a pleasant smile) Good morning to you, sir.
Chairman
Good morning, Mr Bathla. Please take your seat and be comfortable.
Candidate
Thank you very much, sir. (On not finding any chair nearby, he politely asks) May I take the chair lying in that corner?
Chairman
(Looks at the Candidate and says) Yes, you may do so, Mr Bathla.
Candidate
(Brings the chair close to the chairman’s table and sits down comfortably) Thank you, sir.
Chairman
So, Mr Bathla, I see from your bio-data that you have passed your BA and appeared for MA final in ­economics. Why did you opt for economics?
Candidate
Sir, I think for a career in banking, economics is more useful than English Literature or political science which were the other two subjects I could have opted for in my MA. Banking itself is an economic activity and I am sure my knowledge of economics would help me perform my duties well.
Member
Mr Bathla, we agree with you as far as your choice of economics is concerned for your MA. But the term economics is derived from the Greek word oikumene, meaning household. How does this help in the banking profession?
Candidate
Sir, every housewife performs an economic activity when she decides how to spend her limited resources and ­budget the expenses of the family. Money and ­banking are two important and interrelated parts of any ­economic activity. Economics as a science is concerned with ­increasing production and wealth to satisfy human wants. Wealth takes the shape of money and then ­banking comes into picture. Hence, banking and economics are closely related.
Chairman
Can you tell us when a regular central banking system was instituted in  India?
Candidate
Sir, with the promulgation of the Reserve Bank of India Act, 1934, a central banking system was launched in our country.
Member
When did the Reserve Bank of India come into being?
Candidate
The Reserve Bank of India was officially inaugurated on 1 April 1935.
Member
Could you briefly explain the role of the Reserve Bank of India in the country?
Candidate
Sir, the Reserve Bank of India plays a dual role in the country’s economy, that is, promotional and regulatory. In a promotional capacity it helps the government in its developmental projects by raising loans and in the regulatory role, it looks after the monetary policies of the Government of India.
Member
What about issuing of bank notes?
Candidate
Sir, issuing of bank notes comes under the regulatory functions of the Reserve Bank of India. All bank notes above one rupee denominations are issued by this bank.
Chairman
Some of our banks were nationalized when Mrs Indira Gandhi was our prime minister. How many times has the nationalization of banks taken place and in which year did the first nationalization take place?
Candidate
Sir, so far banks have been nationalized twice. The first was in the year 1969.
Chairman
How many banks were nationalized in 1969 and when did the second nationalization take place?
Candidate
Sir, with the first nationalization in 1969, 14 leading banks were nationalized, and the second nationalization took place in 1980.
Member
So, how many banks are nationalized now?
Candidate
At present there are 20 nationalized banks in India.
Chairman
Mr Bathla, you may have heard the name of the Imperial Bank of India. What has happened to this bank?
Candidate
Sir, the establishment of the Reserve Bank of India in 1934 necessitated a change in the status of the Imperial Bank. Now the State Bank of India is the successor of the Imperial Bank of India.
Member
Have you heard the term lead bank? What does this term refer to?
Candidate
The lead bank system was introduced in 1969. It was based on the concept of ‘area banking’. Each lead bank is allotted a district(s). The lead bank has to study the conditions in the area allotted to it and prepare a development plan which includes credit policy and other requirements. The lead bank system is also referred to in the area of industrial financing. When two or more banks jointly finance an industrial project, the bank with the maximum share in the project is also called the lead bank.
Chairman
You have not fully answered my question concerning the Imperial Bank of India. Give us some more details regarding this bank such as in which year was the ­Imperial Bank renamed and so on?
Candidate
Sir, the Imperial Bank of India was nationalized and ­renamed as the State Bank of India in 1955. This was done by the Imperial Bank of India (Amendment) Act of 1934. By this amendment the Imperial Bank lost its status as a central bank but remained the sole agent of the Reserve Bank of India.
Member
What do you understand by the term differential ­interest rates?
Candidate
Sir, the scheme of differential interest rates is meant primarily for the benefit of the weaker sections of ­society. They are provided easy finance for productive ­purposes at a concessional rate of interest which is four per cent per annum.
Member
Under the government’s scheme of self-employment, loans are given to unemployed people through the ­Department of Industries. Do you know how these loans are disbursed and what is the role of banks in this regard?
Candidate
Sir, earlier this scheme was meant for unemployed ­graduates and professionals such as engineers. Now the ­government has extended the benefit to matriculates for the purpose of self-employment. The Department of ­Industries grants the loan to an individual in consultation with one of the nationalized banks called the lead bank, the Employment Exchange and the District Industries Officer/Manager. Once the loan is sanctioned, it is disbursed by any of the nationalized banks for which the loanee has to complete certain formalities as required by the bank. The loan is given at a differential rate of interest and without security. The government gives a subsidy of up to 25 per cent and the loanee is required to repay only 75 per cent of the loan amount to the bank.
Chairman
Mr Bathla, may we know what your hobby is? How do you pass your free time?
Candidate
Sir, frankly speaking, I have very little time which I can call free time. However, whatever free moments I get after my work and studies, I spend listening to music.
Chairman
Music is a good pastime. Are you also a singer yourself or play some musical instruments, or do you only listen to music?
Candidate
Sir, I am a singer myself. I also know how to play the tabla and electric guitar.
Chairman
Very good, Mr Bathla. Do you like classical music or film songs?
Candidate
I am fond of old film songs and ghazals.
Chairman
Mr Bathla, from what you have told us so far, we have come to the conclusion that you know quite a lot about banking. However, one last question. Could you please tell us why you have opted for a career in banking?
Candidate
Sir, my qualifications and interest in banking together prompted me to look for a career in banking. With the ­nationalization of banks, jobs in banks have become at par with any administrative government job. Moreover, banking offers good prospects for really hardworking people. I have some friends who joined as clerks but now they hold positions of accountants, sub-managers and even managers.
Chairman
That’s all, Mr Bathla. You can leave now.
Candidate
Thank you, sir.




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