Panel interview is just a 'panel' of 2 - 3 person interviewing you. There is no assessment center. OMG I told you guys this is just way for the bank to hire graduates for grunt work for the umpteen times. They will not make it so hard to get in with an assessment centre. Interview questions really depends on your interviewers, but generally the questions are easy, show leadership, show initiative, show proactive-ness, show you match the culture. This program has a freaking bond, so your competition wouldn't be that high just go in and be yourself.