Bank Branch Manager Question:
Download Questions PDF

Explain what is ‘Cheque Discount'?

Answer:

Cheque discounting service is offered only by few banks. For instance, if you have a cheque of $3000 outstation and the cheque will take 7 seven days for clearance, then bank will offer you a service for early payment. The bank can make an early payment, but they will pay only for certain percentage of the actual amount, here they will pay you $2000 but they will charge interest on it and the remaining $1000 will be paid, once the outstation cheques get clear.

Download Banking Branch Manager Interview Questions And Answers PDF

Previous QuestionNext Question
Tell me how do you approach the decision-making process? In other words, how do you make difficult decisions without the input of others?Tell me what are the various risks that banks face?