IDFC FIRST Bank Interview Questions and Answers

Q1. Explain your Professional Experience
Ans. 
I have over 5 years of experience in management roles, leading teams and implementing strategies to drive business growth.
• Managed a team of 15 employees, overseeing their performance and providing guidance for improvement

• Implemented new sales strategies which resulted in a 20% increase in revenue within the first year

• Developed and executed training programs for staff to enhance their skills and productivity
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Q2. Explain your Revenue Achievement Target specially for Sales Division
Ans. 
I set revenue achievement targets based on historical sales data, market trends, and individual sales team performance.
• Analyze historical sales data to identify trends and patterns

• Consider market conditions and competition to set realistic targets

• Set individual targets for sales team members based on their past performance and potential

• Regularly monitor progress towards targets and adjust strategies as needed

• Provide in...read more
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Basically 4 section
1) Numerical Ability
2) Reasoning
3) English Comprehensive
4) Banking Knowledge

Q1. Tell me about your Major Sales Qualities
Ans. 
My major sales qualities include strong communication skills, ability to build relationships, and strategic thinking.
• Strong communication skills - able to effectively convey information and persuade clients

• Ability to build relationships - establish trust and rapport with clients to foster long-term partnerships

• Strategic thinking - able to analyze market trends and competitor strategies to develop effective sales plans
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Q2. Tackle our organization pressure
Ans. 
To tackle organization pressure, I believe in effective communication, delegation, time management, and prioritization.
• Effective communication with team members and superiors to address issues and find solutions

• Delegation of tasks to ensure workload is evenly distributed and deadlines are met

• Time management techniques such as setting priorities, creating schedules, and avoiding procrastination

• Prioritization of tasks ba...read more
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Q1. Can you tell me about yourself?
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Q2. What is your past work experience?
Ans. 
I have 5 years of experience in financial planning and wealth management at a reputable firm.
• Worked as a financial planner at XYZ Wealth Management for 3 years

• Managed client portfolios and provided investment advice

• Assisted clients in retirement planning and tax optimization

• Conducted financial analysis and created customized financial plans

• Collaborated with team members to achieve client goals
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Q1. What were you looking last organisation.
Ans. 
I was seeking growth opportunities, a collaborative environment, and a chance to leverage my skills in relationship management.
• I wanted to expand my professional network and build lasting relationships with clients.

• I was looking for a role that offered challenges and opportunities for personal and professional development.

• I aimed to work in a company that values teamwork and encourages innovative solutions to client ne...read more
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Q2. Banking products knowledge
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Q3. Customer handling, sales Banking products.
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Financial related. Banking related questions.

Q1. Why is this task necessary?
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Q2. How should this work be performed?
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Q3. What can we do to understand this better?
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Q4. Do you wish to carry out this task with full dedication?
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Q1. Your company has launched a new product .your manager assigns you a sales target .how would you plan a sales compaign what steps would you take to expect your field prospective customers.
Ans. 
A strategic approach to planning a sales campaign for a new product, focusing on customer engagement and targeted outreach.
• Conduct market research to identify target demographics and their needs.

• Develop a unique selling proposition (USP) that highlights the product's benefits.

• Create a multi-channel marketing strategy, including social media, email, and direct outreach.

• Set measurable goals and KPIs to track the campaign...read more
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Q2. A customer shows interest in your product but hesitates to make the purchase.hiw would you convince him or her to go forward.
Ans. 
Engage the customer by addressing concerns, highlighting benefits, and offering incentives to encourage the purchase.
• Listen actively to the customer's concerns and objections, showing empathy and understanding.

• Highlight the unique benefits of the product, such as quality, durability, or features that meet their needs.

• Share testimonials or case studies from satisfied customers to build trust and credibility.

• Offer a limi...read more
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Q3. You work in an auto dealership.a customer is requesting an unusually steep discount. How would you respond.how can you manage the customer's expectations.
Ans. 
Addressing customer discount requests requires empathy, clear communication, and setting realistic expectations.
• Listen actively to the customer's reasons for requesting a steep discount, showing empathy and understanding.

• Explain the dealership's pricing structure, highlighting the value of the vehicle and any additional services included.

• Offer alternative solutions, such as financing options or smaller discounts on add...read more
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Q1. What should be the minimum civil score?
Ans. 
The minimum civil score should be at least 700 for a Relationship Wealth Manager.
• Minimum civil score should demonstrate financial responsibility and trustworthiness

• Higher scores indicate better creditworthiness and lower risk for lenders

• Some financial institutions may require a score of 720 or above for certain services
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Q2. How much EMI do you want to pay for the top up?
Ans. 
I am comfortable paying up to 20% of my monthly income as EMI for the top up.
• Consider your monthly income before deciding on the EMI amount

• Ensure that the EMI amount does not exceed 20% of your monthly income

• Factor in other financial commitments before finalizing the EMI amount
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