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While a Terms and Conditions agreement is recommended to have for your website, it’s not required by law to have this agreement.Only Privacy Policies are required by law if you collect personal data from your users: email address, first and last names, shipping address, etc.A Terms and Conditions agreement is also known as a Terms of Service or a Terms of Use agreement:A Terms of Service Agreement is a set of regulations which users must agree to follow in order to use a service. Terms of Use is often named Terms of Service, Terms and Conditions, or Disclaimer when addressing website usage.This agreement sets the rules that users must agree to in order to use your website.For example, I operate a tarot reading site. My terms of use include things like*Must be 18 to purchase a reading*My payment options and refund policy*To notify users of my copyright*To inform them of the laws governing my state and my compliance with those lawsA terms of use / Terms and conditions really only benefits you. They are easy enough to create - Sample Terms and Conditions Template is a great place to start.

There may not be much questions on the subject especially on mathematics, chemistry or physics.There may be questions on the following subjects:CommerceEconomicsHistoryComputer scienceIt has to be noted that the interview is conducted by only retired bank executives and the following will be their main focus when it comes to questions:BankingEconomicsCapital marketCurrent affairsRecent budgetPersonalities who are in the news recentlyRecent happenings in the field of banking, politics and money mattersPlease read the following for better guidance:Tips for Interview for recruitment as Probationary Officers in banksInstructions to candidatesThe purpose of the interview:The purpose of any interview is to select one suitable individual for the concerned post. The person to be interviewed may be having higher qualifications; however, he may not be having the requisite potentials or caliber in handling the job offered namely; better communication ability, leadership quality, emotional strength and efficient interpersonal relationship. Banking demands people who are willing to work hard by mingling with customers freely and friendly apart from maintaining a cordial; social and friendly relationship with the colleagues and superiors.Phases of the interview:The interview is conducted in four phases namely;·the first phase during the course of which questions are asked about the individual and his specialization in any area;·the second phase wherein questions are asked about the bank for which the interview is conducted;·the third phase wherein questions are asked about general banking, economy, finance and latest developments and·the fourth phase is the final round for the interview.The interview committee:The interview committee consists of three to five imminent personalities who are well versed in banking matters and normally the services of executives or retired executives of various commercial banks are utilized for the purpose of conducting the interview. The following system is adopted by the committee members during the course of interview process:·While one member poses questions to the candidate, the remaining members observe the body language of the individual as to how he reacts to the questions and especially in respect of difficult questions;·They also review as to how the candidate comes forward in presenting his answers in a crisp manner thereby providing the relevant points expected by the committee members at the shortest possible time.·Basing upon the answering ability, communication ability, level of confidence, willingness to accept challenges etc., the committee members select the individuals by awarding better gradation.·When the candidate is found to be inattentive on account of low level of self confidence or some other factors, the committee members pose provoking questions so that the candidate is emotionally provoked and aroused to come forward with appropriate answers.The interview process:The interview process consists of the following stages:·Attendance marking by the candidate at the reception committee and filling up the relevant format thereby furnishing his details;·Verification of the certificates namely; qualification certificates, experience certificates, certificates relating to extracurricular activities etc., by the reception committee/team members;·Candidate waiting at the reception hall for his turn;·Once called, candidate entering into the interview room duly seeking permission of the team members;·Candidate thanking the interview members for permitting him/her inside the cabin;·Candidate sitting on the seat once offered by one/more members in the interview committee;·Candidate thanking the person who had offered the seat;·Candidate shaking his hands with the members, if offered;·Candidate eagerly awaiting for the questions from the members;·Candidate mentally preparing himself to attend the interview with full concentration maintaining regular eye contact with the committee members;·Candidate answering the questions posed by the members enthusiastically, till the entire process is treated as completed;·Candidate collecting all certificates and documents once the interview is treated as completed;·Candidate thanking the committee members and·Candidate politely raising from the chair, walking towards the entrance, opening the cabin door and gently closing the door behind him;·Candidate meeting other candidates awaiting at the reception hall cheerfully.Dress code:·Dress code is most important aspect and a person is judged by the dress he wears. Dress makes half man.·For men: Please wear a neat full length trouser and one full length shirt – preferably white or light shaded; Usage of “T” shirts greatly dampens the image of the candidate and the purpose of using any ‘T” shirt is to have better comfort during the course of walking, relaxing, jogging, running, partying and relaxing. As such “T” shirts are not considered to be a fit wear during professional meetings including interviews. Do not wear highly dark colored and checked dresses. The candidate has to wear a good quality shoes neatly polished. If possible he can wear a “tie” and this is purely optional and certain organizations pay more attention to the personality of an individual which gets improved by way of better dressing.·For girls: Under any circumstances girls should not wear provoking dresses namely; “T” shirts, jeans pants, trousers, half gowns and shirts with messages and blouses with low cuts. A neat chudithar is considered to be the best option and wearing of sarees improves the image of the individual.A.Questions during the first phase:·Initially the candidates are invited to tell about their personal life and interests, their family members, their ambitions, their qualifications, their achievements in studies, sports, music and any other extracurricular activities;·The second question is about the place to which the candidate belongs. In case the candidate belongs to Chennai, he will be asked to tell about Chennai and the importance of the place. Necessarily the candidate should have a thorough knowledge about the place from which he is hailing;·The interviewers will pose “ice breaking questions” in order to shift the focus of the candidate. This is for the purpose of finding out the reaction of the candidate during such “focus change”. (Banks demand people who are able to face any challenges);·During the first two to three minutes, more than 80 percent of the questions will be on the personal details and basic information about the candidate. It has to be remembered that – “The first impression is the best impression” and accordingly the candidate has to behave politely, calmly, courageously and confidently.Sample questions during the first phase:·01. My dear friend, now tell us about yourself: The candidate has to inform in a crisp manner about himself, his family, his qualifications, achievements if any etc. Unnecessary details should be avoided altogether and the candidates at no cost should provide information to the committee members with an intention to derive sympathy from the committee members. Such an attitude will prompt the members either to reject or award poor marks.·02. I see – you are from Chennai – please tell me about Chennai: Since the candidate belongs to Chennai, he is invited to tell about Chennai and he should have pre-hand information about Chennai and should come forward to tell about important places in Chennai namely; Marina beach, High Court, Kabaleeswarar Temple, Metro train facilities, Santhome church, International airport, Asia’s biggest bus station at Koyembedu and many more.·03. I find that you had studied in Presidency college. What was the reason for your preference of this college?. How was your life in the college? The candidate has to tell about the college; the achievements of the college in academic scenario as well as in sports and in other areas;·04. I find that you had studied “EEE” - why you had chosen the course? The candidate has to tell about the purpose and the potential available for the students who had opted to pursue EEE course.·05. You are in Chennai for a long period. What is your opinion about Chennai?·06. You are having “EEE” in engineering and why you are willing to get employed in banks? (Your reply should be – In fact by working in a bank, I can develop my relationship with public in a better manner; improve my knowledge and provide better service to as many people as possible since the banks are purely service oriented organisations. I find that I can have more career prospects in future by getting employed in the banks)·07. What are your strengths and weaknesses? – Your answer should be: I am always willing to work hard under all circumstances and since I have a good communication ability, I hope that I can surely develop friendship with my colleagues, clients and others in a fast manner so that I can contribute better to the society.·08. You are a highly qualified person having one MBA degree apart from a degree in Engineering. What is the guarantee that you will be in the bank without shifting your attention to some other employment potential after some time?: Your reply should not be: On account of unemployment problem, I am joining the bank; Your reply should be – even though I have better qualifications, I wish to work in the banking industry because I can have better opportunities to serve for the welfare of the society by working in the bank than any other organisations.Responsibilities of the candidates appearing for the interview:The candidate should do a home work and he should always depend upon his positive straits namely; his strength, achievements and abilities and necessarily he should believe in himself that he can accept and do the job in a better manner and he should altogether avoid any negative reply or angry reply under any circumstances; even when provoked or tempted by the interview board members and the candidate should remain calm and wear a broad smile during the entire interview process.A smile has the power to keep the individual in better spirits at all times.The following question may provoke the candidate –·Dear friend, considering your personality, I find that you look like a film actor. How do you feel yourself ?(You had not at all expected this question and you are tempted to provide an apt reply to them: Your reply should be– In fact I am fond of wearing a neat dress and I take care of my health by doing physical exercises regularly apart from eating moderate food and getting into the bed at the appropriate time. I always believe in the following proverb – “Health is wealth”. An individual may not be in a position to discharge his duties properly without adequate health. The habit of eating quality food, regular exercise and better dressing are the factors which are responsible for my personality.B.Second phase of the interview process:During this phase, questions will be asked about the bank for which the candidate is appearing for the interview and the following are some sample questions in case the candidate is appearing for a post in Punjab National Bank:·Do you know – where is the head office of Punjab National Bank?·Who is the present chairman of the bank?·How many branches are there in Punjab National Bank as on date?·Can you tell me about the total business of the bank?·Can you tell me about some deposit schemes available in the bank?·What do you know about the logo of Punjab National Bank?·What is the punchline of Punjab National Bank?·What is the position of Punjab National Bank among the commercial banks in the country as on date?(It is the responsibility of the candidate to collect the necessary information about the bank for which he is appearing for the interview by visiting the website of the bank and referring other material sources in order to get the required information about the bank namely; the headquarters, number of branches, total business, profit position, important schemes, tie up with another banks, achievements of the bank, if any; the present position and ranking of the bank in terms of business, profitability, non performing assets, productivity of the employee etc., In case the candidate is appearing for a group of banks, he should have information in general about all the banks in the group)C.Third phase of the interview:During this phase, questions will be asked on general banking practices as mentioned below:The following are the questions regarding the banks in general:·Have you visited any bank branch? What was your experience?·What is the business of any bank?·What are the essential/primary functions of any bank?·What are the secondary functions of any bank?·Who can open a savings bank account?·What do you know by KYC guidelines?·Why banks insist customers in adhering to KYC guidelines?·What is the difference between Current deposit account and Savings deposit account?·What do you mean by CASA account?·Who normally opens a current account?·What do you know by a fixed deposit account?·Can a company open a savings account?·Can the director of a company open a savings account?·Who is the controlling authority for the banks in India?·What is a foreign bank?·What is meant by a public sector bank?·Which is the largest private sector bank in the country?·Which is the largest bank in the country?·You are working as an officer in savings department. The customer complains about the irritating behavior of the clerk who is working under your supervision. What will you do in this situation?·Your manager delegates some work and you are failing in doing the work within the allotted time and your manager is not happy with your performance. How will you convince your manager?·Today there is some news about annual credit policy. What do you know by that?·What do you know by reverse repo rate?·What is called as inflation?·What is rupee convertibility?·What do you know by gross domestic product?·What do you know by ASBA?·What do you know by Sensex?·What do you know by a convertible debenture?·What is an initial public offer?·What do you know by facebook – whether it is good or bad for any individual and what is your opinion?·What are the advantages and disadvantages of Whatsapp?·What is your opinion about currency demonetization and how far the process helps in improving the economy of the country?(The above questions are illustrative and not exhaustive and the candidate should know fairly well about many banking as well as general aspects)D.The fourth phase of the interview:Like the initial phase or first phase, this fourth phase is also important wherein tricky questions will be asked as mentioned below:·You are hailing from Coimbatore. In case you are posted to Chennai whether you will be willing to work at Chennai?. (Your answer: If I am posted at Coimbatore, I shall try my level best to bring more business to the bank since I know the place and people well and I can take care of family members who are dependent on me. Even otherwise, I shall discharge my duties to the best when I am posted at Chennai)·Suddenly on account of computer crash, you have to sit late – whether you will be willing to sit late and finish the job or leave early without informing your superiors? (Definitely I will never mind in sitting late and I shall always cooperate with my superiors in finishing the day to day functions of the branch. I am one among the team members and I have the responsibility to cooperate with other members during critical situations)·What information are you willing to tell about yourself? (If I am selected, I shall work hard and I shall discharge my duties to the entire satisfaction of my superiors. I shall always do the best from my side for the growth of my organization.)Selected Interview QuestiomsCandidate: 00101.Why you are willing to join in a bank?I am willing to join in a bank since I hope that I may be having more opportunities to serve the public. Banks have better career opportunities by means of periodical promotions to higher cadre.02.What do you mean by appraisal of gold loans?Gold loans are granted against the security of gold jewellery namely gold chains, necklaces etc., The jewellery apart from gold contains certain amount of copper and stones. Appraiser is a person well versed in the art of appraising the jewellery and on appraisal of the jewellery, he will be finding out the approximate gold content so that the bank may be able to provide loans against the gold content.03.What are the different kinds of term deposits available in a commercial bank?The different kinds of term deposits available in a commercial bank are – fixed deposit, recurring deposit and reinvestment deposit. In the case of fixed deposit, a fixed amount is accepted for a definite period and interest is paid on quarterly basis. In the case of reinvestment deposit which is similar to fixed deposit, interest is paid on maturity since interest is reinvested. In the case of recurring deposit, monthly instalments are accepted for a fixed period.04.What is the minimum period for which a fixed deposit is accepted and the maximum period for which a fixed deposit is accepted?The minimum period for which fixed deposit is accepted is seven days and the maximum period is ten years.05.Whether a fixed deposit can be accepted for a period more than ten years?In the case of deposits in the names of minors on account of settlement of claims, the deposit can be for more than ten years06.What do you mean by FERA?FERA means foreign exchange regulations act and it came into effect from the year 1973. An act to regulate certain payments dealing in foreign exchange, securities, the import & export of currency and acquisition of immovable property by foreigners. Under Section 31 (1) of the Foreign Exchange Regulation Act ( FERA) of 1973, it is mandatory for foreign corporations, which are not incorporated in India to obtain permission from the Reserve Bank Of India (RBI) to acquire, hold, transfer or dispose off in any manner (expect by way of lease for a period not exceeding five years) any immovable property in India.07.What do you mean by ECS?ECS means electronic clearing service and the customer can authorize on periodical basis to make payment of certain utility bills like electricity charges, water charges etc., by debiting his account till such time he submits a revocation letter. Similarly, he can authorize corporate to credit the dividends on shares and interest on debentures as and when due to the credit of his account with the bank.08.What is the minimum amount that can be sent through RTGS?The minimum amount that can be sent through RTGS is Rupees two lakhs and there is no maximum limit09.What is the maximum amount that can be remitted through NEFT?There is no or maximum limit for remittances sent through NEFT10.What is the maximum amount that can be sent abroad by any resident individual?Under liberalized remittance scheme, all resident individuals including minors are allowed to freely remit an amount upto US dollars 250000 (or its equivalent freely convertible foreign currency) per financial year11..What is the name of apex bank which is responsible for the development of agriculture in the country?NABARD is the apex bank which is responsible for the development of agriculture in the country.12.What are the different kinds of schemes available in our country aiming towards poverty alleviation?National old age pension scheme; Jawahar Gramin Samruddi Yojana; National Family Benefit scheme; Mahatma Gandhi National Rural Employment Guarantee Scheme; National Maternal Benefit Schemel Annapurna etc.,13.What do you mean by crossing of any cheque?Writing of two parallel transverse lines drawn on the face of the cheque on top left hand corner with or without any words between the lines is known as crossing and it is for the purpose of making payment of the cheque through an account in the name of the payee or holder.14.What are the different kinds of crossing?Two parallel transverse lines drawn on the face of the cheque on top left hand corner of the cheque with any words or without any words is known as general crossing and the the payment can be made to the account of the payee or holder with any bank. In case the name of any bank is mentioned within the two parallel lines, it is known as special crossing and in this case, the payment should be made to the account of the payee or holder with the bank mentioned in the crossing only and not to any other bank.15.What do you mean by CASA?CASA means current and savings and this is applicable to computerized branches linked under core banking solution16.Whose signature is available in Rs. 100/- currency note?The signature of RBI governor is available in Rs. 100 currency note17.What do you know by dividend?Dividend is the return available in the form of money for the investments made by the shareholders in the equity shares and preference shares of any company.18.Bank holidays are declared according to which act?Holidays for banks are declared according to Negotiable Instruments act 1881 by the respective state governments in their states. However, all Sundays, all second and fourth Saturdays have been declared as holidays apart from the holidays permitted for religious and national ceremonies.19.Banks are functioning according to which act?Commercial banks in the country are functioning according to Banking Regulation act 1949 and to some extent as per Reserve Bank of India act 193420.RBI is functioning in the country as per which act?Reserve Bank of India is functioning according to Reserve Bank of India act 1934.Candidate: 00201.What do you mean by a guarantee?Guarantee is an undertaking executed by one person called as guarantor in favour of another person called as beneficiary expressing his intention to make payment in the event of failure of the principal debtor on payment of a debt or failure to perform any contract within the stipulated time or according to the terms of the contract.02.What are the different types of guarantees?The different types of guarantees are financial guarantee, performance guarantee and deferred payment guarantee03.What do you mean by letter of credit?Letter of credit is an undertaking executed by one banker on behalf of its customer to honour bills and documents drawn by another person as per the terms and conditions as mentioned in the letter of credit04.What do you know by packing credit advance?It is the preshipment advance granted by one bank to the exporter for the purpose of procuring raw materials; payment of various duties like customs duty, excise duty; packing charges; shipment charges etc.,05.What do you mean by special crossing?In case the name of any bank is mentioned within the two parallel lines, it is known as special crossing and in this case, the payment should be made to the account of the payee or holder with the bank mentioned in the crossing only and not to any other bank.06.What do you know by IFSC code ?IFSC means Indian Financial System Code and this is one alphanumeric code consisting of eleven digits of which the four alphabetic digits represent the name of the bank mentioned in abridged form and the next zero is known as control number and the last six numeric digits represent the branch code of the bank.07.Which is called as mother of deposits?Savings deposit is known as mother of deposits. Normally the first time customers will be advised to open savings deposits with the bank branch before availing any other facility with the bank08.Who is a called as natural guardian?Bother mother and father are known as natural guardian for the purpose of opening accounts in the name of minors represented by the guardian.09.Whether grandfathers and grandmothers can be natural guardians?Grand fathers, grandmothers grand grandfathers or grand grandmothers cannot represent as natural guardians on be behalf of the minors10.Which type of credit facility is available to a farmer for raising crops?For raising crops, the farmers are provided with crop loans, Kisan Credit Cards etc.,11.What do you mean by NULM?National Urban Livelihoods Mission (NULM) was launched by the Ministry of Housing and Urban Poverty Alleviation (MHUPA), Government of India in 24th September, 2013 by replacing the existing Swarna Jayanti Shahari Rozgar Yojana (SJSRY).The NULM will focus on organizing urban poor in their strong grassroots level institutions, creating opportunities for skill development leading to market-based employment and helping them to set up self-employment venture by ensuring easy access to credit. The Mission is aimed at providing shelter equipped with essential services to the urban homeless in a phased manner. In addition, the Mission would also address livelihood concerns of the urban street vendors12.What do you mean by Gram Sadak Yojana?The Pradhan Mantri Gram Sadak Yojana called as PMGSY was launched by the Government of India for the purpose of providing connectivity to unconnected habitations as part of a poverty reduction strategy. Government of India is endeavouring to set high and uniform technical and management standards and facilitating policy development and planning at state level in order to ensure sustainable management of the rural roads network.13.What are the salient features of MGNREGA?MGNREGA is known as Mahatma Gandhi National Rural Employment Guarantee act and according to this employment is guaranteed at least one person per household in rural areas. It aims at enhancing the livelihood security of people living in rural areas by guaranteeing hundred days of wage employment during each financial year to a rural household whose adult members volunteers to undertake unskilled manual work14.Which authority is supervising the functions of insurance companies?IRDA – Insurance Regulatory and Development Authority is the authority responsible for supervising the functions of insurance companies in our country15.What is meant by IPO?IPO means initial public offer and this is the first time public offer of equity shares, preference shares or debentures to the public for subscription16.What is meant by ASBA?ASBA means applications supported by blocked amount. Nowadays investors are permitted to remit the amount through ASBA demand drafts drawn in ASBA accounts for the purpose of subscribing shares or debentures through initial public offer and further public offer. When the demand draft is issued, instead of debiting the amount in the account, the amount is blocked till such time the shares or debentures are allotted. On allotment, the entire amount is debited; in the case of partial allotment, the amount is debited equivalent to the value of allotment and in the case of non allotment, the entire amount is allowed for further use. For the intervening period, the depositor earns interest as applicable to the category of deposits.17.What is meant by Performance guarantee issued by any commercial bank?In the case of contracts in favour of governments, the contractors are in a position to provide a bank guarantee by a reputed commercial bank, thereby undertaking to guarantee the government department to compensate the loss on account of failure of performance of the contract by the contractor within the due date or failure to perform the contract as per the terms and conditions of the contract. This is known as performance guarantee.18.What do you mean by packing credit facility issued by any commercial bank?Packing guarantee is known as preshipment advance provided by the commercial bank to the exporter for the purpose of procuring raw materials, packing materials or making payment towards customers duty, excise duty, transportation charges etc.,19.What do you mean by notice money?Notice money is money borrowed for a period of two days and more and upto fourteen days in the call money market.20.Treasury bills are issued by which authority and what are the different kinds of treasury bills available in the country?Treasury bills are issued by central government and state governments for the purpose of mobilizing funds from the public and others towards meeting the cost of various projects. There are three kinds of treasury bills as at present namely – 91 days, 182 days and 364 days. 91 days treasury bills are issued each Friday and the notified amount is Rupees one hundred crores. 182 day treasury bills are issued during alternative Wednesdays which is non reporting week and the notified amount is Rupees 100 crores and 364 days treasury bills are issued on alterntive Wednesdays which is a reporting week and the notified amount is Rupees 500 crores.Candidate: 00301.What do you know by PIN number?PIN number is four digit number expressed in numerical characters. PIN number is used for the transactions done using debit cards and credit cards through automated teller machines and point of sale terminals.02.What do you know by PAN number?PAN number is known as permanent account number. This is used for the purpose of remittance of income tax with income tax department. Tax payers should get one PAN number by sending an application along with relevant documents and by payment of specified sum of money to Income tax department or their agencies. It is ten digit number consisting and alphapetical and numerical characters.03.What are the functions of DICGC?DICGC means Deposit Insurance and Credit Guarantee Corporation and this corporation provides deposit insurance upto an amount of Rupees one lakh per depositor per bank in the event of insolvency of the bank and it also provides small loans guarantee upto certain limits04.What is the role played by ECGC?ECGC provides guarantee support to the exporters of the country in the form of several export guarantees05.Mention the Regional Rural Banks which are functioning in Tamilnadu?The Regional rural banks which are functioning in Tamilnadu are Pandiyan Grama Bank and Pallavan Gramin Bank. Pandiyan Grama Bank has been sponsored by Indian Overseas Bank and pallavan Gramin Bank has been sponsored by Indian bank.06.What do you mean by Mergers and what are the different kinds of mergers?When two independent units merge together to form a single unit, it is known as merger. The mergers can be vertical merger, horizontal merger, reverse merger, consolidation, amalgamation etc.,07.What do you mean by horizontal merger and reverse merger?When the business functions of two units are identical in nature and when the merger takes place between those units, it is known as horizontal merger. New Bank of India merged with Punjab National Bank and both are banking organizations. Industrial Credit and Investment Corporation of India Limited was instrumental in establishing ICICI bank as per LPG norms and subsequently Industrial Credit and Investment Corporation Limited merged with ICICI Bank and when a parent unit gets merged with an ancillary unit, it is known as reverse merger.08.Which are the top two private sector banks in our country?The top private sector banks in our country are HDFC bank limited and ICICI bank limited09.Whether housing loan is a priority sector advance and if so, upto what amount?Housing loans granted are treated as priority sector advances subject to certain conditions. Loans to individuals up to Rupees 28 lakh in metropolitan centres (with population of ten lakh and above) and loans up to Rupees 20 lakh in other centres for purchase/construction of a dwelling unit per family, are eligible to be considered as priority sector provided the overall cost of the dwelling unit in the metropolitan centre and at other centres does not exceed Rupees 35 lakh and Rupees 25 lakh, respectively. Housing loans to banks’ own employees are not eligible for classification under priority sector.10.Whether educational loan is a priority sector advance?Loans to individuals for educational purposes including vocational courses upto Rupees 10 lakh irrespective of the sanctioned amount are eligible for classification under priority sector.11.What do you mean by micro, small and medium enterprises?The classification is based on original investment in plant and machinery: For micro enterprises, upto Rs. 25 lakhs for manufacturing units and Rupees 10 lakhs for service units; For small enterprises, for manufacturing units above Rupees 25 lakhs and upto Rs. 5 crores and for service units above Rupees 10 lakhs and upto Rupees 2 crores; For medium enterprises, for manufacturing units above Rupees 5 crores and upto 10 crores and for service units above Rupees 2 crores and upto Rupees five crores12.What do you mean by KYC and name any two important documents which are obtained as per KYC?KYC means know your customer guidelines and these guidelines were prescribed by RBI for new customers who are willing to open accounts with commercial banks and according to KYC, any new customer who is willing to open accounts with commercial banks should submit the photocopy of anyone of the following namely; driving licence, voter id card, AADHAARA card, passport as address proof and photocopy of anyone of the following namely; driving licence, voter id card, AADHAAR card, passport, pancard as identity proof. KYC is antimony laundering device.13.What is the present repo rate and reverse repo rate?The present repo rate is 6.25% and reverse repo rate is 5.75%14.In the case of MICR code, the middle three digits represent what?MICR code consists of nine numerical digits and the middle three numerical digits represent bank name15.PAN number consists of how many alpha characters?PAN number consists of ten digits. The first three alpha characters are random alphapetical characters between AAA to ZZZ; next one alpha character represents the category of the cardholder; the next one alpha character represents the first character of the name of the cardholder; the next four numerical digits are auto generated sequential numbers and the last one single alpha character is a check digit.16.What do you know by biometric automated teller machines?In the case of automated teller machines, the four digit numerical PIN number is used for performing transactions using debit card and credit card. In the case of biometric automated teller machines, instead of PIN numbers, anyone of the following body parts is used – left hand thumb impression; eye retina and voice recognition. In India, the left hand thumb impression is the accepted mode and these kinds of automated teller machines are known as green label automated teller machines.17.What is the criteria by which a bank is considered as largest bank?For the purpose of ranking, a bank is considered to be largest or smallest taking into consideration the business position of the bank; namely – the total deposits and total advances as at the end of March each year.18.What do you mean by commercial paper?Commercial papers are issued by well rated organizations for mobilizing funds from the public and other corporate. They are issued at a discount and they are freely negotiable by endorsement and delivery. The minimum maturity period is seven days and the corporate should have earned credit rating equivalent to P2 issued by CRISIL19.What do you mean by FCNR?FCNR means foreign currency non resident accounts. Non resident Indians and Persons of Indian origin are eligible to invest in this deposit. It is a term deposit accepted in the currencies – US dollar, Sterling Pound, Euro, Japanese Yen, Canadian dollar and Australian dollar. The minimum period of deposit is one year and the maximum period is five years and the deposit is held in foreign currencies and the interest earned is free from income tax.20.What do you mean by Escheat?He is a person who dies without leaving any legal heirs and in this case, his estate will revert to the state government.Candidate: 00401.What do you mean by money laundering?Using the banking channel for the purpose of bringing illegal money is known as money laundering.02.What do you mean by subprime lending?Mass lending by commercial banks to the borrowers without ascertaining the credit worthiness of the borrowers03.What is meant by LPG and who is responsible for introduction of LPG strategy in our country?LPG means liberalization, privatization and globalization and this was coined by Dr. Manmohan Singh, the then finance minister of our country. The salient highlights of the Liberalisation, Privatisation and Globalisation Policy in India are: Foreign Technology Agreements; Foreign Investment; MRTP Act, 1969 (Amended); Industrial Licensing; Deregulation Beginning of privatization; Opportunities for overseas trade; Steps to regulate inflation; Tax reforms; Abolition of License -Permit Raj04.What do you mean by PURA?PURA means providing urban amenities in rural areas. This concept was coined by Dr. A.P.J. Abdul Kalam, the then president of India.05.What do you know by current ratio?It is one equation between current assets and current liabilities. This ratio provides the liquidity position of the organization. When the ratio is more than one it is known as positive current ratio and the unit is having sufficient working capital and when it is less than one, the unit is found to have more current liabilities than current assets and the liquidity position is found to be very weak.06.What do you know about negotiable instruments act?In India, the negotiable instruments act was passed during 1881 which came into force with effect from March 01, 1882. Negotiable instruments means and include promissory note, bills of exchange and cheque payable to order or bearer. Promissory note, bill of exchange, cheque and demand draft are negotiable instruments.07.What do you know by MICR?MICR means magnetic ink character recognition. MICR code is available in MICR bank at the bottom of the cheque or demand draft. It consists of nine numerical digits of which the first three digits represent the centre/city; the middle three digits represent the bank and the last three digits represent the branch of the bank.08.When it comes to rural lending, which are all considered to be priority sector advances?When it comes to rural lending, the loans granted to the following are considered to be priority sector advances – Loans granted to all agriculture related activities; self help group; Differential rate of interest; Loans to SC/ST beneficiaries; Loans provided to doctors for setting up clinics in rural areas; Loans to dealers in fertilizers and pesticides; loans to dealers of springler irrigation and drip irrigation equipments etc.,09.Who is called as an authorized dealer?Authorised dealer is at present known as authorized person. Authorised person is an individual or organization permitted to deal in foreign exchange business in the country.10.What do you know by financial inclusion?Financial inclusion means the following: Providing formal banking services to poor people in urban and rural areas; Promoting the habit of money savings, insurance, pension-investment among poor people; Helping the people in getting loans at reasonable rates from commercial banks so that they do not become victims to local moneylenders11.What are the important initiatives taken through financial inclusion in the country?The following are the important initiatives taken through financial inclusion in our country: Lead banking scheme; No frill accounts; Basic savings bank deposit accounts; JANDHAN accounts; business correspondent and business facilitator facilities; Swabhiman campaign;12.What do you mean by MCLR?MCLR replaces the base rate system. RBI introduced the system with effect from 01.04.2016 in order to determine the base rate by commercial to improve the efficiency of monetary policy transmission. All rupee loans sanctioned and credit limits renewed with effect from 01.04.2016 to be priced with reference to MCLR and it will be an internal benchmark for the banks. It consists of marginal cost of funds, negative carry on account of CRR, operating costs and tenor premium. The marginal cost of funds consists of two components namely; marginal cost of borrowings and return on networth13.What are the major money market instruments?Certificate of deposits; Commercial paper; Inter Bank participation certificates; iner bank term money; Treasury bills; Bills rediscounting and call/notice money14.What are the differences between NEFT and RTGS?Both are two categories of online remittance facilities through CBS enabled branches of commercial banks. The minimum balance that can be sent through RTGS is Rupees two lakhs whereas in the case of NEFT, there is no such limit. The beneficiary gets his funds at real time and it means instantaneously without any loss of time. In the case of the beneficiary gets his funds in between batches15.Who is deciding the rate of interest for savings deposit accounts?Rate of interest for savings deposits is decided by respective commercial banks only and RBI has permitted full freedom in this connection.16.Who cannot open savings deposit accounts?Proprietorship concerns, partnership firms, limited liability partnership firms, private limited companies and public limited companies are not permitted to open savings accounts17.What is meant by memorandum of association?Memorandum of association is the parent document for any company whether it is a private limited company or private limited company. It contains the details of formation of the company, policies, objectives, registered office and more.18.What is known as power of attorney?Power of attorney is an authorization given by one person called as principal in favour of another person called as an agent authorizing the agent to perform certain activities on behalf of the principal and it can be specific power of attorney or particular power of attorney.19.In which currencies FCNR accounts can be opened in our country?FCNR account can be opened in the following currencies namely; US dollars, Sterling Pounds; Euro; Japanese Yen; Australian dollars and Canadian dollars.20.What are the differences between NRE and FCNR?NRE and FCNR accounts are opened by non resident Indians and Persons of Indian Origin in India. NRE accounts are to be opened in rupees whereas FCNR is opened in foreign currencies. NRE accounts can be opened in the form of savings account, current account, reinvestment deposit and fixed deposit whereas, FCNR account is permitted to be opened as fixed deposit or reinvestment deposit. NRE term deposits can be opened for a minimum period of seven days and maximum period of ten years. FCNR accounts can be opened for a minimum period of one year and maximum period of five years.Candidate: 00501.What do you mean by masala bonds?Masala bonds are the bonds issued for rupee denominated borrowings by Indian companies in overseas markets02.What do you mean by secondary market in our country?Secondary market pertains to capital market and it is also known as stock exchange or old issues market. Shares, debentures and bonds can be bought and sold from the stock exchange through registered brokers.03.What do you mean by fund based limits and non fund based limits?The loans provided to the borrowers in the form of term loans, overdrafts, cash credits and bills discounting limits are known as fund based limits since funds are released to the borrowers. Guarantees and letter of credits are non fund based limits since no funds are provided for the time being since they are contingent liabilities.04.What do you mean by off balance sheet items?Guarantees, letter of credits and bills sent for collection for which proceeds are yet to be realized are known as off balance sheet items05.What do you mean by closed ended scheme?This is one form of mutual fund scheme. Like initial public offer, the scheme is open for a certain period only and after which the public cannot invest their amount in the units under this scheme.06.What do you mean by open ended scheme?This is one mutual fund scheme and the units under scheme can be purchased and sold at any time07.What do you mean by overdraft facility granted by a bank?Overdraft is a facility granted by the banks towards meeting the working capital requirements of a borrower. This is provided by means of credit limit over and above the current account balance and the borrower has to pay the interest as and when due.08.What do you mean by collateral security?Collateral security is an additional security provided by the borrower in addition to the primary security. For example, in the case of vehicle loan, the car purchased out of loan is known as the prime security and the insurance policy obtained by the bank from the borrower for the sanction of this loan is known as collateral security.09.In regard to educating a customer, what are the different kinds of information boards displayed in a bank branch?The following boards are available in the bank branches – Working hours and business hours; Interest rates on various deposits; Interest rates for loans; Service charges; Time norms for various services; Details of schemes available in the branch10.Who is the present RBI Governor?The present governor of RBI is Shri Urjit Patel and he is functioning as the governor of RBI since 04th September, 201611.What do you mean by unclaimed deposits?The deposits which are not in operation for more than ten years are known as unclaimed deposits. For the purpose of this classification, the customer induced transactions are only taken into account.12.How many regional centres are available for RBI in the country?Reserve Bank of India has four regional centres at the following places – Chennai, Kolkatta, New Delhi and Mumbai.13.What do you mean by white label automated teller machines?The automated teller machines which are maintained and managed by non bank entities are known as white label automated teller machines. In our country TATA Indicash and Muthoot finance are having such machines installed at various centres.14.What are the advantages of CTS?CTS means cheque truncation scheme. This is used for clearing purpose. Normally commercial banks used to send the physical cheques through their15.What do you mean by certificate of deposits?Certificate of deposits are issued by scheduled commercial banks (except Regional Rural Banks) and all financial institutions within their umbrella limits. Individuals, corporate, companies, trusts, funds and associations can invest in certificate of deposits and they are issued for a minimum period of seven days and maximum period of twelve months in the case of commercial banks and in the case of financial institutions the minimum period is one year and maximum three years, Minimum amount for investment is Rupees one lakh and in multiples of Rupees one lakh.16.RBI is called by which names – mention four names?RBI is called by the following names – banker to banker; lender of the last resort; custodian of banks; banker to government;17.What do you mean by ways and means advances?Ways and means advances were introduced as per an agreement between Reserve Bank of India and Government and they are temporary overdraft facilities provided by RBI to central government and state governments and the purpose is to bridge the time interval of mismatch the government expenditure and receipts. The duration of the limit is ten days for central government and 14 days for state government departments.18.Who is banking ombudsman and by whom he is appointed?Banking Ombudsman is an arbitrary authority who resolves the complaints received from the customers of commercial banks in regard to bank related issues.19.What do you mean by EEFC account?Exchange Earner’s Foreign Currency account is an account maintained in an account maintained in foreign currency with an authorized dealer ; i/e/ a bank dealing in foreign exchange. Professionals, exporters, trainers etc., who are in receipt of foreign exchange for the services extended by them in foreign countries can invest the amount in EEFC account and the account will be in the form of current account and no interest is paid for the balance held in EEFC account.20.What do you know by NBFC?NBFC means non banking finance companies. It is a company registered under Indian Companies act 1956 and presently 2013 engaged in the business of providing loans and advances, acquisition of shares/stocks/bonds/debentures/securities issued by Government or local authority or other marketable securities of a like nature, leasing, hire purchase, insurance business, chit fund business etc.,Candidate: 00601.What do you mean by arbitrage?It is the process of purchase of one security from one market and selling the same security for earning a profit at the same time at another market.02.What do you mean by Bonus shares?It is the free allotment of shares in certain proportion to the existing shares held by the shareholders of a company and this is a means of providing reward to the investors for their contribution to the growth of the organization by capital investment03.What do you mean by Bull?It is a term given to a speculator on stock exchange who buys the securities in expectation of a rise in the prices. The market is called as bullish when there is a domination of buyers over the sellers04.What is known as dematerialization?Dematerialisation is the process by which shares in the physical form are cancelled and they are issued in electronic form. The certificates are known as demat shares. This process eliminates the time and manpower involved in transfer and registration of shares from the seller to the buyer05.What do you mean by moorat trading?It is the auspicious trading on a special day, say Diwali during some specified hours.06.What do you mean by rights issue?It is the issue of new shares to the existing shareholders in a fixed ratio to those already held at a price which is generally below the market price of the old shares.07.What do you mean by futures?It is a standard contract issued on an agreement to buy or sell an asset at a certain price at a certain time in future. It is an obligation on the buyer to purchase the underlying instrument and the seller to sell it.08.What do you mean by forward?The forward is a contract that is traded off the stock exchange and it is self regulatory and has certain flexibility unlike future which are traded at stock exchange only and it do not have flexibility of quantity and quality of commodity to be delivered and these are regulated by Securities Exchange Board of India, Reserve Bank of India or other agencies.09.What do you mean by factoring?Factoring is an arrangement in which short term domestic receivables on sale of goods or services are sold to a company called as factor and this scheme came into existence during 1991 based on the report of Kalyanasundaram Committee10.What do you mean by forfeiting?Forfaiting represents the purchase of obligations, which fall due at some future date and arise from the delivery of goods in export transactions, without recourse to the previous holder of the obligations.11.What do you mean by leasing?A lease is a contract where the owner of the assets transfers the right to another person to use the assets against the payment of fixed lease rentals. In the case of one lease contract, there are two parties namely – the lessor or the owner and the lessee or user. The lessor remains owner and the leased property remains with the possession of the lessee.12.What do you mean by debt market?It is a market wherein the debt instruments are issued to the public by any company for investment and such debt instrument bears a fixed interest rate payable half yearly on specific dates and principal amount repayable on particular date on redemption. Debentures are normally secured/charged against the asset of the company in favour of debenture holder. The following are some debt instruments – debenture; bond; zero coupon bond; convertible bond; security receipts etc.,13.What do you mean by greenshoe option?It is an option provided by Securities and Exchange Board of India to a company which is coming out with one initial public offer to the public. By this option, the company can retain certain portion of the applications received through IPO in case of oversubscription.14.What do you mean by equity market?Equity market consists of investment by the public in different kinds of shares issued by the company and by subscribing for the shares, the investors are expressing their willingness to stand as owners of the company. The equity market consists of equity shares, preference shares, rights shares, bonus shares etc.,15.What do you mean by sweat equity?Directors and employees contribute intellectual property rights to the company in the form of providing technical know-how captured by way of research or contributed by way of strategy software developed for the company or adding profit and economic value. To compensate the directors and employees, the concept of sweat equity has come into existence.16.What do you mean by participatory notes?A participatory note is a financial derivative instrument issued against an underlying security and it allows the holder, to get dividend or capital gains earned from the underlying security although some of the holders may not be eligible to trade in stock markets in India.17.What do you mean by book building?Book building is the process to assess the demand for a particular public issue of various prices, based on which the issue is priced and sold to the investors.18.What do you mean by sensex?It is a stock market index provided by Bombay Stock Exchange for the information of the investors. The positive or negative variation in the index provides an insight for investment or dis-investment to the general public and especially the investors in the stock market. It is based on the market capitalization of top thirty shares earmarked by BSE19.What do you mean by Nifty?It is a stock market index provided by National Stock Exchange for the information of the investors. The positive or negative variation in the index provides an insight for the investment or dis-investment to the general public and especially the investors who are participating in stock market trading. It is based on the market capitalization of top fifty shares earmarked by NSE20.What do you mean by swap?A swap is a contract that binds two counterparties to exchange the different streams of payments over the specified period at specified rate.

Its relatively easy to create and launch an online store using shopify these days.The real test is to optimize minor elements of eCommerce stores to encourage visitors to buy and create trust. I have analysed queries and problems from our official Shopify group on Facebook and noticed that there were a lot of common problems every e-commerce entrepreneur faced.Here are a few mistakes you can avoid when building your online store:Bad Search Button PlacementA very basic and common eCommerce mistake to avoid is the placement of search buttons. The search button is a most used feature on eCommerce stores. It creates ease of use for buyers, therefore, not only should it be visible it should also be ideally in the right side of navigation. The reason for this recommendation is primarily because of ease of access.Most online stores are published in languages written from left to right. Hence, naturally visitors are mentally programmed to look up to their top right for the navigation bar, where the search option usually appears. Placing the search button in odd places causes visitors to abandon the eCommerce store without even looking at your products.Therefore:Ensure the search button is visible, usually indicated by a magnifying class iconPlace the search button in the right navigation (recommended)Add a search bar … it is also a great ideaImproper Slider ImagesHaving a slider with images of products is absolutely fine, it’s both attractive and a trigger for buyers to look at products. However, after careful observation I have noticed most new web stores have several issues in their slider images, one of very common eCommerce mistakes these days.The most common issue is the absence of proper high quality product images. Images moving in the slider are blurred and give a bad perception to the customer. Images should be high definition and not too LARGE to take up half the scrolling space of your home page. An attractive high quality product image is certain to trigger a response form buyers.Another problem with the same image is its size. While it’s good to have a clear product image, store owners tend to place very large images in their home page slider. It is ideal to place medium sized images that are properly aligned with each other, are not blurry and low quality.Therefore:Ensure Slider images are high definitionDo not publish the same pictures your supplier doesAlign all product images to be the same sizeUnreadable Fonts & Text with Bad Colour SchemesA very common eCommerce mistake that I have experienced in over 100 eCommerce stores is rash attention towards fonts, colour schemes and text. At times different browsers’ didn’t even show some text in buttons and navigation menus. eCommerce website design mistakes are easy to avoid, so its better being proactive with your design and its smaller elements.It is recommended to use a single font family across your online store. The font should be readable, clear and attractive when used with the store them. This also applies to the size of fonts. Using too large fonts can be, foolish, if you ask me. The same goes for using too small font sizes.The Colour Scheme used is a massive aspect when analysing the appeal of your eCommerce store. Warm colours and your text could be completely invisible, too light and it could be annoying to the eye. Consider a colour scheme that highlights the text and at the same time delights buyers.The placement, size and length of text is crucial. Too long and it may counter-react with your theme, so always consider using concise text for menus, search, buttons and slider text. For example, using the test “Search for Products Here” can be replaced with “Search”. Hence, it is better to avoid ecommerce website design mistakes proactively than suffer and do it later.Therefore:Use one font family across all landing pagesMaintain font size in headings, blogs, product description and all other sectionsUse trending colour schemes that comply with your fonts and buyers like to seeUse text that is ideal in size and not too lengthy, especially for buttonsMissing Details on Product PagesProbably the most important, yet biggest eCommerce mistakes I have seen mostly on new e-commerce stores. Product pages are missing crucial details, even product specifications at times. This results in visitors completely abandoning the product page, with no value for them in it.It is recommended to include as much product details as you can. A brilliant example is looking up product descriptions and details on Amazon. The first aspect to pay attention to are product specifications. Give buyers details of size, shape, colour, storage, technologies used, benefits of using and any other details that will trigger a sale.The product page must also offer details of returns policies, process in case of damaged goods, shipping details, deliver details and other important after sales information. You can also include clever details of packaging, gift wrapping services, comparison button with other products, plus any other customization details. Remember that this is a very common eCommerce mistake and must be avoided at all costs.Therefore:Include as much product details & specifications as possibleMention delivery, return, damaged goods process and quality detailsInclude primary benefits of using the productAvoid copy-pasting details provided by the sellerConsider including packaging and wrapping detailsAdd Comparison buttons to quickly compare similar productsDisplay customization optionsNot Using Urgency Apps on Product PagesInstant product sellers, Urgency Apps are designed for Shopify & WooCommerce stores to display limited stock or discount. Visitors consider the quick selling & trending item with intent to buy.There are some brilliant urgency apps on the Shopify app store that trigger immediate action from buyers. Hurrify countdown timer app available on Shopify is the most successful app for urgency. The app places a countdown timer next to your product, creating the urgency that items are limited.Urgency apps are highly customizable to display number of times items have been sold, units remaining plus several other tricks. According to developers urgency apps increase conversions up to 3 times depending on your industry. Not creating urgency on your online store is one of eCommerce’s biggest mistakes, let the customer know about stock availability in advanced its better than losing sales.Therefore, ensure:Install an urgency app with your trending products to get 3 times more salesAdditional Steps Instead of Checkout PageAnother common eCommerce mistakes to avoid is displaying additional steps in the cart page instead of moving buyers to the checkout. Ecommerce stores begin displaying additional buttons to push customers to buy more rather than moving them to their checkout. This by far is the most annoying & common eCommerce mistakes found on online stores.Instead of displaying useless buttons that lead elsewhere, consider displaying a “Checkout” button to take shoppers to their cart page. This can then allow you to suggest other products at checkout, instead of misleading the buyer with irrelevant stages of the journey. One example is displaying an Update Button, a Continue Shopping Button or other buttons leading elsewhere.Therefore:Provide customers with a Checkout button onlyDo not display irrelevant buttons and route buyers through more stepsNot Highlighting Checkout ButtonI can’t say if it’s a mistake or a general misconception amongst online store owners, but highlighting the update button doesn’t get them anywhere. The update button either redirects the buyer to another product page or simply updates their cart items, see no use doing it.Highlighting the checkout button will not only makes the journey easier, but also build trust between the eCommerce store and buyer. As I mentioned earlier, adding buttons doesn’t make the process any easier. A ‘Dull’ or unnoticeable Checkout button is a VERY BIG MISTAKE, always use trending colour to make it prominent.Therefore:Always highlight the Checkout button, not other CTAsNot to route buyers anywhere else but the Cart Checkout pageUse appealing, eye catching and trending colours for Checkout ButtonsMake checking out easier for buyersNo Delivery Details on Product PageNot mentioning the delivery time of products is not just an eCommerce mistakes to avoid, IT IS CRIMINAL, but that’s just my perspective. In an age of perfect information missing out on this crucial detail can lead to dissonance and even cancelled orders.Consider it this way, the more information the product page provides during the sale the less time is spent answering user queries later. AliExpress usually provides the delivery times ‘2-3 weeks’ or ‘4-6 weeks’ and is a very good idea. Similarly, POD online store can have products delivered in 3-7 days with next day delivery also available in most cases.It is recommended to mention delivery times with an attractive icon or mentioned in prominent bold text.Therefore:Mention the delivery time of productsList the delivery time with attractive graphics or prominent textNo Cart Reserve Timers in the Checkout PageThe absence of a cart reserve timer is one of the top eCommerce mistakes to avoid. Its sneaky yes, but its also a motivator for shoppers to actually checkout instead of abandoning.Deploying a cart reserve timer on the checkout page can be immensely profitable for an eCommerce store. Boosting the fear of missing out on their shopping list that took 30 minutes to add, will trigger a natural response to checkout. Not only does it create urgency but can also trigger immediate payments. This slick little tool maybe a bit cheesy, but it can do your sales a great favor.The Cart reserve timer basically notifies buyers that their cart items will be emptied in 5, 10 or 15 minutes. This triggers a psychological response to either pay immediately, or add more items quickly. Having this timer can decrease checkout abandonment (recorded at 68% in 2016) and simply increase sales that could have been lost.Therefore, ensure:Creating urgency with a cart reserve timer appWhy Are All Items on Sale?Unless a webstore is observing a clearance sale or closing down there is no point putting up all product in the catalogue on sale. Only products that are top sellers or very highly priced should be shown on sale. If all items are on sale all the time, there will be no point running campaigns in holiday seasons and special events like Christmas. This very common eCommerce mistake to avoid, customers will not buy simply because items are on sale.This will certainly discourage buyers when they compare prices with another webstore. If the price on another ecommerce store is lower than sale offer price, they will abandon their cart.Therefore:Do not put up the entire product catalogue on saleUse clearance sales for seasonal events & holidaysFrequently Asked Questions (FAQ) Page AbsentWouldn’t it be nice if half your buyer queries are resolved without even contacting customer support? That is exactly what a FAQ page can do. As I have noticed, most web-stores completely disregard frequent questions. This leads to increased dissonance and disgruntled customers. One of the most massive & very common eCommerce mistakes to avoid, always create an FAQ page for your visitors.These frequently asked questions like shipping times, delivery times, product replacement and returns etc. can resolve customer queries without even contacting support. FAQs can include queries like:How do I return a product?How do I get a refund?What to do if I receive the wrong product?Do you ship internationally?How much is shipping to my country?What payment methods do you offer?I provided a wrong address, how do I change it?How do you secure my financial information?Creating and populating a FAQ page is not even difficult. You can browse FAQ pages of ecommerce stores online to see what the most common questions that are addressed. This also creates a sense of delight & trust in the customers mind. After sales service carries more value than the actual sale. FAQs should be the first point of contact for your buyer rather approaching a busy live chat or 24hour response email ticket.Therefore, ensure:Creating a FAQ from day oneAnswer common issues/queries directly related to the web-storeKeep customers happy by being pro-activeAlways consider after sales service as important as making the saleNo Contact Us PageThe absence of a Contact Us page can be very damaging for an online store, and is a common eCommerce mistake. If the buyer has no means to contact the web-store, the seller cannot create any trust with visitors let alone buyers. The issue is common among most new online stores, the absence of contact information creates mistrust in the customers mind.An e-store should be present over several mediums including social networks, live on-site chat, phone, email, and video calling if possible. This will create great trust between buyer and e-store, in addition giving the buyer a channel to reach the store. Being a common ecommerce mistake, it is the reason many e-stores don’t survive for too long.Therefore:Create a dedicated Contact Us pageCreate e-store profiles over social networksPublish a dedicated phone number for the e-storeEncourage buyers to reach support over video callsInstall a live chatOffer an email support form on the Contact US pageNo About Us PageThe absence of a dedicated About Us page is a serious eCommerce mistake, and is a very common eCommerce mistake. The reason is simple, buyers & visitors will not trust the online store. Offering company information, location, personnel information and phone numbers builds massive trust in buyers’ minds.Usually, located in the footer the About Us page may not be a highly visited page but only the existence of such a page can build massive rapport with buyers. The page should align with the rest of the webstore and if possible should offer a Google Maps location. This is one of the most significant eCommerce mistakes in addition to a contact us page.Therefore:Develop a proper About Us pageMention location, address, phone numbers and maps locationBuild strong rapport & trust with buyersHuge Logos & Brand NamesIf the web store logo or brand name takes up the top fold of your eCommerce store what is the point of having the store front? Even in a brick-n-mortar business you may have never seen a billboard that covers the entire front of the store. This eCommerce website design mistake can cost the online store dearly, as the buyer cannot see products, only a huge logo or brand name. This just makes the experience difficult for the buyer.Consider publishing an ideally sized logo and brand name to give products & offers more space. The home page will then offer more area for sliders, active sales and other elements to trigger a sale. Huge images, logos and text may look attractive but aren’t what your buyers are looking for. The buyer is interested in the latest deal, or trending product which they should see as soon as they scroll down the home page.Always consider fixing eCommerce website design mistakes before launching your e-store rather re-actively disturbing the design later. Therefore:Avoid placing huge logos & brand name on the web storeAvoid large size images that take up half the space on product pagesMake the shopping experience easier for the buyerNo Re-Assurance Factors or Comfort ContentMissing re-assurance factors (also called comfort content) with product descriptions are a very common mistake I have mostly noticed on new e-stores. These factors like 30 Days Money Back, Hassel free returns, SSL powered payments, available payment methods etc. can be significant to trigger sales from even “just” browsing visitors.Including reassurance factors with your product gives the online store authority. For instance, a 30 days money back guarantee will give the customer surety that they can return the product if there is dissonance. A SSL Payment gateway will convince the customer of secure payment. Depending on nature of the products, eCommerce stores can include anything that comforts the buyers mind to proceed with the purchase. Show buyers that you care for them, their data privacy, and payment information.Therefore:Add comfort content in product pagesUse re-assurance factors related to productsConvince customers the e-store caresNo Terms & Conditions PageA terms and conditions page is not required by law, but is an essential element for online stores. A common missing element on most eCommerce stores, terms & conditions pages define rules buyers must agree to use an ecommerce store. Terms & conditions pages sets important rules including those for preventing abuse, copyrighting content, account termination, limiting liability and defining prevailing laws.Defined terms and conditions ensure that users maintain certain ethics when commenting and purchasing from your store. This builds trust in buyers’ minds and defines the authority of store owners.Therefore:Add a broad T&C page for the e-storeDefine the rules of using the e-storeNo Privacy PoliciesA mandatory document now for any website, Privacy Policies are usually missing from most online stores. Not having a privacy policy is a big mistake, since visitors are concerned about the data they submit over a website and how it will be used. This document underlines:The functions of the web-storeInformation collectedMethods of information collectionHow information is storedContact information of managementThe privacy policy should be a broad document, easy to understand, accurate, and must address any hidden clauses. It is also essential to routinely update this document based on changing internet privacy laws. Maintaining a privacy policy creates a sense of security & trust amongst buyers. This document also defines the security provided to customers’ financial information.Therefore:Create a mandatory Privacy PolicyDefine information collection, payment security, information storage, site usage and use of informationNo Currency ConverterInstalling a currency converter app is a great idea. It saves buyers the hassle of going through a Google tab to check how much products cost in their currency. As I have noticed it is a very common mistake across most new e-stores. Imagine if your customer goes off to Google to convert and never returns to your store, that’s sales lost.It is a great idea to have a currency converter that can be both automatic and manual. The automatic currency converter shows product prices based on the buyer’s IP address. A manual currency converter is usually accessible in the top navigation of most e-stores. Buyers can select which currency they want the prices to be shown in.The prime advantage is keeping the buyer on the web store and saving the trouble to convert prices on Google or another website.Therefore:Consider installing a Currency Converter pluginCurrency converters are available in both free and paid versionsAutomatic & manual currency converters can be installedNo Recommendations or Related ItemsA good element to have on an e-store, complimentary items are usually shown when a buyer is either browsing or when adding an item to cart. Another common mistake new e-stores make, this is a possible upsell trick to increase sales.A related items section is a brilliant way to display complimentary products, higher quality substitutes, and product bundles to buyers. This feature also allows displaying recently viewed products to buyers to encourage sales of popular items. Shopify & WooCommerce both offer a sweet selection of apps to display related items within product pages and at checkout.Therefore:Consider installing a related items app or pluginShow your customers more complimentary itemsUpsell by displaying higher quality productsCross-sell by displaying product bundlesProduct Reviews & Ratings MissingAn essential element for any e-store, and the biggest mistake most new e-stores make. We now know that 23% of online shoppers in US are influenced by social and on-site product reviews. 69% of US online shoppers also demand products are highlighted with authentic user reviews. 42% store owners have previously reported a growth in sales when publishing user reviews. Product reviews can make or break a purchase, and hence fall in the category of top eCommerce mistakes to avoid.Reviews not only build trust, but also give buyers a realistic preview of products. For e-stores reviews are immense as they can gauge the quality of products & customer satisfaction. Another important feature to add are product ratings. Usually signified by stars, this is a great way to project the satisfaction of customers who have rated a product between 1 and 5.Reviews & Ratings build a concrete reputation for e-stores, encouraging customers to return and recommend others too. For new e-stores it can be a problem publishing reviews since they have none. e-Stores can import reviews from AliExpress, Amazon, eBay and other sites hosting the same product easily with apps. There are both paid and free apps available to host reviews on e-stores.Therefore:Publish reviews with catalogued productsImport reviews from other websites using appsBuild trust and give buyers a realistic previewPublish ratings of productsAvoid publishing fake reviews, they are identifiableSocial Proof MissingAn intelligent trick to convince buyers and encourage sales, social proof apps are now a must have for any e-store. Social proof is also known as informational social influence. It’s a psychological factor that influences buyers to copy the actions of other buyers, monkey see monkey do! Not including social proof ranks in my top 5 eCommerce mistakes simply because the age of the celebrity is over. Online Buyers are influenced more by reviews of other buyers than those acting as brand ambassadors.But, although this trick is quite effective, most new e-stores miss out on this amazing feature. Robert Cialdini writes in his book ‘Influence’, “the tendency to see an action as more appropriate when others are doing it.” Buyers are influenced by other buyers looking at a particular item, its basic human psychology.It can come in many ways like social proof from experts, influencers, celebrities, other buyers, and friends. Testimonials, rating, reviews, badges and media logos also fall under this category. Buyers will always be uncertain about purchasing products online. However, a little nudge by another buyer will encourage the purchase.With a number of social proof apps and techniques now available in both Shopify and WooCommerce, it’s a great way to optimize conversions. Social proof removes doubts from the buyers minds, giving e-store great reliability.Therefore:Use social proof techniques with trending productsConsider installing appsAllow influencers to demo your products and publish reviewsUse ratings, reviews and testimonials with productsShipping Rates Not MentionedMost e-store owners simply consider this irrelevant but eCommerce shipping mistakes will cost you. It is very crucial for customers to see ideal shipping rates they will pay for products. BigCommerce reports that “66% of US online shoppers decided not to buy an item because of shipping costs”. 72% female shoppers and 59% of male shoppers in USA abandoned sales when they found out the shipping rates later in the journey.It’s very important to negotiate good shipping rates with your shipping company. Too expensive and 66% of your shoppers will leave as I mentioned above. There should be a mix of shipping rates like free, paid, and a mix depending on the location of buyers. Avoiding eCommerce shipping mistakes, before customers start swarming your customer support is better and time saving.Therefore:Negotiate appealing shipping rates with companiesCreate a mix with free and paid delivery offers depending on productNo Product Video DemosIt’s a trending content type, and now essential to grow into a popular e-store. I have not seen a video demo on either new or medium sized e-stores, a very common mistake. Stores that do carry video demos secure better sales and are more reliable in comparison to those that dont. BigCommerce reports that 42% of online shoppers demand a video demo for products.Video demos can be highly productive and all they require is a product sample you can record while using. Product videos & demos can teach customers how to use the item, teach them new tricks, and demo the quality. Videos build better understanding of products, give e-stores reliability, build buyer trust, and brand power.The excellent aspect of videos is that you can share them over several platforms and even embed in blogs, news stories and articles.Therefore:Create Video demos & reviews for trending productsPublish them on several channelsDead Live ChatI have noticed dead or unresponsive live chat on several e-stores which is one of few criminal eCommerce mistakes. A dead live chat is the doorway to lost sales and negative brand image. It is essential to keep in touch with customers, and respond instantly to queries. Customers commonly use live chat to contact support and problem resolution.If there is no one to assist over live chat, I recommend removing live chat and consider email support. E-stores can also opt for Facebook Messenger rather than live chat tools. e-Stores should also use bots instead of carrying a dead live chat. Your product pages should provide all important delivery, shipping, product quality, packaging, and other details so the customer has all information beforehand.Therefore:Do not use Live Chat on e-stores if there is no one to answerConsider using Facebook MessengerOpt using bots if there is no human support availableProvide as much details as possible before handNo Categorized & Sub-Categorized ProductsBrowsing through mostly new e-stores you will notice fewer categories with most products clustered into one huge section. This is a very grave mistake, e-store owners should avoid.Categories make life easier for a customer to browse products and quickly get to the section they want to shop in. It also makes the e-store look professional, organized, and appealing to the buyer. It is also recommended to use sub-categories for easy access. Category management is in fact a defined area of control that should be looked after routinely.Category management experts EKM offer the “Two Rules of Three”:Customers must see the start of the path within three seconds of landing on your web store.The product they want should ideally be no more than three clicks away.Categories should be simple, they should have confusing long titles. Instead of titling a category Men’s Sweater for 25 to 30, just label it Men’s Winter Wear. Another important aspect to add to categories are appropriate filters for buyers to quickly find their products. It’s also good to routinely visit competitors and see how they manage categories to get an idea.Therefore:It is recommended to categorize & sub-categorize product cataloguesUse simple category labelsMake navigation easier for buyers to get to their products quicklyConsider category management a core function of the e-storeNo Order Tracking & Reporting SystemAn order tracking system is a best practice, but still not available on majorly new e-stores, a crucial eCommerce mistake to avoid. With a number of apps that can integrate with the e-store the order tracking process is now fairly easy. Order tracking makes it easier for customers to directly check the status of their purchase. This removes the requirement for them to contact support and wait long times for email replies.The most important advantage of order tracking is trust and reliability in the buyers mind. Another important benefit is that the customer will return to check their order status leading to more sales. Order tracking may also reduce expensive call costs for the customer and offering them quick delivery information.Order tracking plugins available for both Shopify and Woo-commerce keep the customer on e-store pages. eCommerce stores can also provide a link to the order tracking of the courier company. This significantly reduces the work load off customer service who can then deal with other issues.Therefore:Add an order tracking system to the e-storeHappy Sale Hunting E-Store Owners!