This banking terminology pdf will help a lot to acquire basic banking knowledge and can act like a basic banking terminology dictionary. It is written by an individual to transfer amount between two accounts of the same bank or a different bank and the money is withdrawn from the account. This instruction must be in writing and if marked “irrevocable”, it cannot be cancelled. Bill of Exchange – an order in writing from one person to a bank or to another person, to pay on -demand or at a given date, a certain sum to the person named in the bill. These terms are useful from exam point of view. When an account has insufficient funds the cheque is not payable and is returned by the bank with a reason “Exceeds arrangement” or “funds insufficient”. Definitions of key terms and phrases used in commercial, retail and investment banking and bank regulation List of Important Banking Terms – Download in PDF Banking terms and concepts are many and can sometimes be difficult to figure out, even for the industry professionals. In a series of providing free study material for SBI PO exam. Top 50 Essential Banking Terms You Need to Know For Interview. Account Sales – agent’s statement of sales made. It is a general term used to describe the services provided by a group of networked bank branches. Cope with – manage, but always with some difficulty. Proceeds – the results of the sale represented in money. Draft agreement – written copy of proposed contract. Deposit account – Surplus funds from the current account are held in this, and receive interest. It will be easy for you to prepare for upcoming bank exams interviews. Trade papers – magazine, periodicals devoted to a certain trade. Association –  An organization that protects the interest of its members but does not trade. Awkward – difficult, inconvenient. In this all the branches of the bank are connected together and the customer can access his/her funds or transactions from any other branch. Overdraft – A debit balance on a bank customer’s current account. Having launched it originally in 2004 we have now updated it with modern terminology to meet with the increasing demand for the book. Executor – Person appointed to carry out the wishes of another person deceased. the amount of funds that a bank keep with the RBI. Complete List of Banking Terms with Definitions For Bank Exams Here we are providing you, 66 important banking terms useful for upcoming bank exam interview in an easy way. Banker’s transfer – Transfer of money from the bank account of a debtor to the bank account of his creditor by order of the debtor. Banker’s of draft – A draft or cheque drawn by one bank on another. Basic Financial and Banking Terms - Download PDF Facebook; Twitter; Telegram; Email; Whatsapp ; Published on Tuesday, April 18, 2017 By - Ramandeep Singh. Download the PDF to read banking awareness terms. Banking terms and concepts are many and can sometimes be difficult to figure out, even for the industry professionals. Finish – the completed surface of the article or material. Letter of credit – (L/C) An arrangement with a bank by means of which a buyer guarantees payment to a seller on fulfilment by the seller of certain agreed conditions. Representative –  Anyone representing the firm. Banking Terms: Banking Definitions: Value At Risk (VAR) The sum or portion of the value that is at stake of subject to loss from a variation in prevalent interest rates. 1. Save as “Banking Terminology PDF” or “Basic Banking Terms PDF”by saving in this name you can easily recognize the file later. Security – A document of value given as cover for loan. Value Based Management (VBM) It is a structured approach to evaluate the performance of the company’s unit managers or goods and services, in terms of the aggregate gains they render to stockholders. Made with by IBPSGuide, Clickhere to download the list of Important Banking Terminologies in PDF, Clickhere to download the list of Important Financial Terminologies in PDF, SSC CGL 2018 Practice Test Papers | Quantitative Aptitude (Day-8), RRB ALP 2018 Practice Test Papers | General Science (Day-11). It is account of nominal interest which can only be used for personal purpose and which has some restrictions on withdrawal. When RBI provides a loan to the bank for short-term between 1 to 90 days, RBI takes some interest from the bank which is termed as Repo … Current account – The account into which a client pays his trading receipts and on which he draws his cheques. Banks charge a fee for this service from insurance companies. 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Die-stamping – this is used for addresses on private note paper; it is not printed but Embossed and usually coloured. Cheque – an order in writing from a person to his bank to pay on demand a certain sum to a named person. Sales drive – sales campaign; special effort. It is an account that can be opened generally for business purposes with no restrictions on withdrawals and no interest paid, © 2020 All rights reserved. However, since banking is a significant part of our business and personal life, it is useful for consumers to learn some common banking terms. Repo Rate. Bill of Exchange – an order in writing from one person to a bank or to another person, to pay on -demand or at a given date, a certain sum to … Item – used only to refer to something in a list, in a catalogue. Draft – This really means a document used to “draw” money from source, but sometimes it is used to refer to money itself. It is the rate of interest charged by a central bank to commercial banks on the advances and the loans it extends. Replacement – in the case of breakage or wrong delivery another consignment of the goods ordered is sent to take the place of the broken, damaged or wrongly delivered goods. Society – Cultural, Charitable or such organizations. Today I am providing basic Financial and Banking terms. However, since banking is a significant part of our business and personal life, it is useful for consumers to learn some common banking terms. ATM (Automatic Teller Machines): […] If the percentage of CRR increases then the amount with the bank comes down. Basic banking terms and definitions Saving as Basic Banking Terms and Definitions PDF: To save banking definitions glossary as a pdf file press ctrl+p and choose to save as pdf and give a name to the file. Here some banking terms are given and their definitions are also updated soon.The definitions of general banking terms for interview are very helpful to one who is preparing for bank exams and to answer the basic banking interview questions. A bill of Exchange is often referred to in a letter as “the draft”. Holding – the shares are said to be “held” by the owner, who is a shareholder, or stockholder. Trustee – Person appointed to protect the interests and property of a person unable to do so for himself. Account Sales – agent’s statement of sales made. Check up – see if everything is all right. To take over – an offer to take over the business of the company concerned; it may be amalgamation or absorption. Manufacturing license – To grant a permit, or license, to a firm in other country, to make the products, using the “Trade Mark” of the first manufacturer but not his name. (adsbygoogle=window.adsbygoogle||[]).push({}); Copyright © 2020 MakeanEasy. They are machines that dispense cash, receive cash, accept cheques, and give balance details and mini statements to the customers through Computer network, It is the distribution of insurance products and the insurance policies of insurance companies by banks as corporate agents through their branches. banking terms for interview with answers, indian banking terminology pdf, banking terms pdf, basic banking terms and definitions pdf, banking terminology in india, banking terminology in hindi, banking terms pdf 2016, glossary of banking terms, banking terms for interview pdf, basic banking terms and definitions pdf, banking terms pdf in hindi, banking terms pdf 2016, bank related general knowledge pdf, banking terms pdf 2017, banking dictionary pdf free download. Interest – the charges or profit due for lending money. Missing – what is not there but should be. Bulk – the goods delivered in a sale by sample. Letter to an Old Customer from whom No Order has been received for a Considerable Time. Line – the kind of business one deals in. Terms is just one of the achievements of EBS’s partnership with NALA. One-hundredth of 1% point normally used for indicating cost of finance, It is a loan that is made for a very short period of a few days only with a low rate of interest. Executive – Applied to any director, manager or other head, or person in authority in business firm. Texture – structure of material, thickness, weave of fabric. I tried to use simple and lucid language. All Rights Reserved. Association – An organization that protects the interest of its members but does not trade. Proceeds – the goods delivered in a list, in a letter as “ the draft ” a balance. To describe the services provided by a group of networked bank branches in price, demand etc – used to. 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