Bankers Adda in Hindi SSC Adda in English SSC Adda in Hindi Achievers Adda. IBPS CLERK IBPS Clerk Notification. BANKING TERMS The basic. A list of all of a country's international transactions for a given time period, usually one year. Payments into the country (receipts) are entered as. Get details about different banking terms: IFSC Code, MICR, PAN, Aadhaar Card, TAN, MMID Download Free Topic-wise and Mock Test PDF.
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You can download these Finance & Banking Abbreviations in PDF for future reference. If you have more Finance & Banking Terms, add in comments! Download. Try to understand these Banking terms, it will help you in upcoming Interviews and exams. SELF HELP GROUP Self help group is a small volunteer association . Private banking institution assists the high net-worth individual in investing his/ her money in exchange for commissions and fees. The term “private” refers to the .
It is a short term money market instrument issued in the form of promissory note. Corporate; primary dealers and the all India financial institution are eligible to issue CP. The maturity period of each commercial paper is 7days to 1year from the date of issue.
CP can be issued denominations of Rs. What is CRM? Customer Relationship Management CRM refers to the ability to understand, anticipate and manage the needs of the customer, interaction and relationship resulting in increased profitability through revenue and margin growth and operational efficiencies. What is Right to information Act? The Right to Information act is a law enacted by the Parliament of India giving citizens of India access to records of the Central Government and State overnments.
This law was passed by Parliament on 15 June and came fully into force on 13 October What is Recession? A true economic recession can only be confirmed if GDP Gross Domestic Product growth is negative for a period of two or more consecutive quarters. What is dematerialisation?
What is Defivative? Forward contract in foreign exchange transaction, is a simple form of a derivative.
What is LAF? What is a Repo Rate? Repo rate is the rate at which our banks borrow rupees from RBI. Whenever the banks have any shortage of funds they can borrow it from RBI.
A reduction in the repo rate will help banks to get money at a cheaper rate.
When the repo rate increases, borrowing from RBI becomes more expensive. What is Reverse Repo Rate? This is exact opposite of Repo rate. RBI uses this tool when it feels there is too much money floating in the banking system. Banks are always happy to lend money to RBI since their money is in safe hands with a good interest.
An increase in Reverse repo rate can cause the banks to transfer more funds to RBI due to this attractive interest rates. What is CRR Rate? If RBI decides to increase the percent of this, the available amount with the banks comes down.
What is Bank Rate? Bank rate, also referred to as the discount rate, is the rate of interest which a central bank charges on the loans and advances that it extends to commercial banks and other financial intermediaries. Changes in the bank rate are often used by central banks to control the money supply. What is PLR?
The Prime Interest Rate is the interest rate charged by banks to their most creditworthy customers usually the most prominent and stable business customers. The rate is almost always the same amongst major banks. Adjustments to the prime rate are made by banks at the same time; although, the prime rate does not adjust on any regular basis. The Prime Rate is usually adjusted at the same time and in correlation to the adjustments of the Fed Funds Rate.
The rates reported below are based upon the prime rates on the first day of each respective month.
Bitcoin is a consensus network that enables a new payment system and a completely digital money. It is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.
From a user perspective, Bitcoin is pretty much like cash for the Internet. Bitcoin can also be seen as the most prominent triple entry bookkeeping system in existence. What is SLR Rate? SLR Statutory Liquidity Ratio is the amount a commercial bank needs to maintain in the form of cash, or gold or govt.
SLR is determined as the percentage of total demand and percentage of time liabilities. Time Liabilities are the liabilities a commercial bank liable to pay to the customers on their anytime demand. SLR is used to control inflation and propel growth.
Through SLR rate tuning the money supply in the system can be controlled efficiently. What is Deposit Rate? Interest Rates paid by a depository institution on the cash on deposit. What is Fiscal Policy? Fiscal policy is the use of government spending and revenue collection to influence the economy. These policies affect tax rates, interest rates and government spending, in an effort to control the economy. Fiscal policy is an additional method to determine public revenue and public expenditure.
What is the Banking Ombudsman Scheme? The Banking Ombudsman Scheme enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks.
Which are the banks covered under the Banking Ombudsman Scheme, ? What is Inflation? Inflation is as an increase in the price of bunch of Goods and services that projects the Indian economy. An increase in inflation figures occurs when there is an increase in the average level of prices in Goods and services. You cannot deposit Local rupee fund i. Nomination is allowed for NRE accounts. The source of funds deposited into NRO accounts can be from India or abroad.
An NRO account can hold income earned in India such as dividends, pension or rental income. Principle amount cannot be repatriated outside India in foreign exchange, without prior permission of the Reserve Bank of India.
Only current earnings are repatriable.
The interest earned on deposits in an NRO account is taxable. Interest rates on NRO Savings deposits are the same as the rates applicable to domestic savings deposits. Nomination is allowed for NRO accounts. FCNR accounts are only in the form of term deposits of 1 to 5 years. FCNR accounts have to be opened and maintained in the foreign currency itself. FCNR accounts can be opened in five different currencies viz.
The source of funds deposited into FCNR accounts have to be from sources abroad. They can also be from your other NRE accounts. Remember key points using Mind Map Federal Bank: Everything You Need To Know.
Explained Debt Consolidation: Explained Non-Banking Finance Company: Important Key Points. Cash Management Cash Management Services: Insurance Notes List of Insurance companies in India: Share This: Get here.
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