Banking and Important Financial terms for Exams

➡ Banking & Financial points – Important for all banking exams IBPS, RRB, SBI, other bank exams
▪ GDP – Gross Domestic Product.
▪ NBFC – Non banking finance company.
▪ Bear and Bulls related to – Stock Market.
▪ SDR (Special Drawing Rights) issued by – IMF.
▪ Financial Inclusion — Banking services to rural people termed.
▪ The details of the companies financial position in the annual report of a company is known as – balance sheet.
▪ Insurance companies regulate in India – IRDA (Insurance Regulatory Development Authority).
▪ The financial body which frames Monetary and Financial policy in India – RBI.
▪ RBI says Rupee Over valued, what it means — The rupee has lost only against the dollar but appreciated against other currencies.
▪ .For preventing frauds and counterfeiting in a bank, RBI has proposed a scheme called – Know Your Customer (KYC).
▪ Organization deals with Fertilizer industry – IFFCO (Indian Farmers Fertiliser Cooperative Limited).
▪ FCCB stand for – Foreign Currency Convertible Bond.
▪ MAT stand for – Minimum Alternate Tax.
▪ Monetary Policy include – CRR and SLR.
▪ SME – Small and Medium Enterprises.
▪ Foreign exchanges are done in – US Dollars.
▪ Home loans are given to – Individuals.
▪ SME loans are given to – ALL Small Scale Industries(SSI).
▪ FCRA – Foreign Contribution Regulation Act.
▪ APEC – Asia Pacific Economic Cooperation.
▪ NPA – Non Performing assets
▪ Basel II norms – Maintaining Capital Adequate ratio
▪ POS – Point of sale
▪ ECS – Electronic Clearing system
▪ The exchange of goods between the two or more countries is known as – FTA(Free Trade Agreement).
▪ Full form of TPF– Trade policy Forum.
▪ Credit Rating agency in India – CRISIL
▪ Stocks and bonds are trade – Capital Market
▪ Service Tax is Shared by – Central Government.
▪ FTA released by – Ministry of Commerce & Industry
▪ Reverse Mortgage scheme is related to – For Senior Citizens
▪ First to start Mutual Fund trading on BSE – UTI Mutual Fund.
▪ IIP (Index of Industrial Production) was released by – Central Statistical Organization (CSO).
▪ World Investment Report released by – UNCTAD.
▪ NCDEX (National Commodity and Derivatives Exchange) commodity stock exchange is headquartered—Mumbai
▪ NABARD(National Bank for Agriculture and rural development bank ) is headquartered – Mumbani
▪ ADB (Asian Development Bank ) is headquartered – Manila
▪ POS — Point of Scale
▪ VAT stands for — Value Added Tax
▪ GST : Good and Service Tax.
▪ Who issue & regulate currency — RBI
▪ NEFT full form — National Electronic Fund Transfer.
▪ Full form of LLP – Limited Liability Partnership.
▪ Max limit for RTGS (Real Time Gross Settlement) – No limit.
▪ Which bank can accept deposit — commercial bank
▪ Insurance services given by banks are called – Bancassurance.
▪ Bank are connected to all banking network — Core Banking Solution.
▪ Financial inclusion is — Banking facilities to all of them whom not has provided as yet.
▪ Who has maximum share in nationalized Bank — Govt of India.
▪ Demat account use for — for shares trading in electronic form.
▪ RTGS minimum threshold limit recently raised to – 2 lac
▪ Govt. sharehold in public sector banks cant be below –51%
▪ NEFT system uses which codes — IFS Codes.
▪ KYC procedure requires — ID & address proof of the customer
▪ Self Help groups means — Self-Help Groups are prime platform for social mobilization of women and creating awareness about legal and political rights.
▪ Reverse mortgage loan — Finance given to senior citizens against residential houses/flats.
▪ Fastest inter bank transfer is by — RTGS.
▪ ASBA — Application Supported by Blocked Amount.
▪ SLR — The minimum reserves each bank must hold to customer deposits and notes.
▪ FINO — Financial Inclusion Network and Operations.
▪ C.A.G. — Comptroller and Auditor General
▪ Rights issue mean — Sale of securities to existing share holders
▪ Secondary Market regulated by – SEBI
▪ Expand NOHC — Non-Operative Holding Company
▪ CDSL means — Central Depository Services Limited
▪ NSDL means — National Securities Depository Limited
▪ ETF stands for — Exchange Traded Fund
▪ Core banking means – Connectivity of branches, ATM and online systems of all branches.
▪ The Foreign Exchange Reserve of India are kept in the custody of — Reserve Bank of India.
▪ Plastic money — Credit Card, Debit Card
▪ PPP means : purchasing power parity.
▪ N.A.V. – Net Assets Value.