Important Banking Terms for Interview And Exams. Try to understand these Banking terms, it will help you in upcoming Interviews and exams. SELF HELP GROUP. KISAN CREDIT CARD. KISAN GOLD CARD. MICROCREDIT OR MICROFINANCE. MUTUAL FUND. BULLION MARKET. STOCK MARKET. ADR (AMERICAN DEPOSITORY RECEIPTS). Here are some Important Banking terms that are closely associated with general banking. These are asked in Bank Exams and Interviews of. List of Important Banking Terms – Download in PDF. Banking terms and concepts are many and can sometimes be difficult to figure out, even.
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It is a general term used to describe the services provided by a important banking terms of networked bank branches Core Banking Solutions CBS: If the percentage of CRR increases then the amount with the bank comes down.
50 Important Banking Terms for Interviews | Bank Exams Today
It is an account that can be opened generally for business purposes with no restrictions on withdrawals and no interest paid Debit Card: It is a card issued by the bank so the customers can withdraw their money from their account electronically.
The way in which a bank keeps money in a deposit account in the same way the Depository Company converts share certificates into electronic form and keep them in a Demat account.
Non-payment of a cheque by the paying banker with a return memo giving reasons for the non-payment E-Banking: Blockchain system These days the transactions in the banking sector are becoming a very tedious task and so as to ensure that this tedious task important banking terms be removed, our banking sector is trying to emerge towards blockchain technology.
To simplify the transactions without the help of any third party in a secure manner is really important banking terms great challenge, but to overcome this challenge an anonymous online ledger collection of financial accounts which uses the data structure to simplify it is called blockchain technology.
IMPORTANT BANKING TERMS-ABBREVIATION PART-I
Balloon mortgage A mortgage is a transfer of a right to stable property for the security purpose of a loan amount. Balloon mortgages are just for short term and it has fixed rate mortgage. In balloon mortgage, a monthly payment is lower because of large payment at the end of a term.
A balloon payment is for the honest and qualified important banking terms who have the good credit history.
Retail credit operations Retail Credit Operations means the sequential process which involves screening, evaluation of risk sand ensuring that the bank lends to important banking terms creditworthy client from the asset products applications sourced.
Skimming Skimming is a method used by fraudsters to capture customer's personal or account information of credit card.
Bank will get an initial capital of Important banking terms 1, crore.
Important Banking Terms for Interview And Exams - Bankers Adda
Under this Scheme, individuals, firms and corporates can electronically transfer important banking terms from any bank branch to any important banking terms, firm or corporate having an account with any other bank branch in the country participating in the Scheme.
There is no limit — either minimum or maximum — on the amount of funds that could be transferred using NEFT.
However, maximum amount per transaction is limited to Rs. Considering that the funds settlement takes place in the books of the Reserve Bank of India, the payments are final and irrevocable.
There is no upper ceiling for RTGS transactions. Important banking terms records are submitted to CIBIL by registered member banks and other financial institutions on a periodic usually monthly basis.
CIBIL was founded in in order to bring greater efficiency and transparency in the credit space.
It allows banks and other financial institution to auction residential or commercial properties to recover loans.
If important banking terms of financial assistance makes any default in repayment of loan or any installment and his account is classified as Nonperforming Asset by secured creditor, then secured creditor may require before important banking terms of period of limitation by written notice to the borrower for repayment of due in full within 60 days by clearly stating amount due and intention for enforcement.
It stands for Intercontinental Exchange London Interbank Offered Rate and serves as the first step to calculating interest rates on various loans throughout the world. Banks borrow and lend money to one another on the interbank market in order to maintain appropriate, legal liquidity levels, and meet reserve requirements placed on them by regulators.