Common Banking Terms

Off Balance Sheet Items
Those items which affect the financial position of a business concern, but do not appear in the Balance Sheet E,g guarantees, letters of credit . The mention "off Balance Sheet items" is often found in Auditors Reports or Directors Reports.

Online Banking
Banking through internet site of the bank which is made interactive.

Pass Book
A record of all debit and credit entries in a customer's account. Generally all banks issue pass books to Savings Bank/Current Account Holders.

Personal Identification Number (PIN)
Personal Identification Number is a number which an ATM card holder has to key in before he is authorized to do any banking transaction in a ATM .

in ATM booth enter your pin

Plastic Money
Credit Cards, Debit Cards, ATM Cards and International Cards are considered plastic money as like money they can enable us to get goods and services.

Pledge
A bailment of goods as security for payment of a debt or performance of a promise, e.g pledge of stock by a borrower to a banker for a credit limit. Pledge can be made in movable goods only.

Post-Dated Cheque
A Cheque which bears the date which is subsequent to the date when it is drawn. For example, a cheque drawn on 8th of February, 2007 bears the date of 12th February, 2007.

Power of Attorney
It is a document executed by one person - Donor or Principal, in favour of another person , Donee or Agent - to act on behalf of the former, strictly as per authority given in the document.

Premature Withdrawals
Term deposits like Fixed Deposits, Call Deposits, Short Deposits and Recurring Deposits have to mature on a particular day. When these deposits are sought to be withdrawn before maturity , it is premature withdrawal.

Prime Lending Rate (PLR)
The rate at which banks lend to their best (prime) customers.

Priority Sector Advances
consist of loans and advances to Agriculture, Small Scale Industry, Small Road and Water Transport Operators, Retail Trade, Small Business with limits on investment in equipments, professional and self employed persons, state sponsored organisations for lending to SC/ST, Educational Loans, Housing Finance up to certain limits, self-help groups and consumption loans.

Promissory Note
Promissory Note is a promise / undertaking given by one person in writing to another person, to pay to that person , a certain sum of money on demand or on a future day.

Provisioning
Provisioning is made for the likely loss in the profit and loss account while finalizing accounts of banks. All banks are supposed to make assets classification . and make appropriate provisions for likely losses in their balance sheets.

Public Sector Bank
A bank fully or partly owned by the Government.

Latest Jobs

  1. Type
    Job Notification
    Job
    Indian Institute of Technology Hyderabad Recruitment of 152 JE, Engineer, Library Assistant, MTS - Last Date 17-02-2020
    Location
    HyderabadTelangana, India
    Date Posted
    6 Feb 2020
  2. Type
    Job Notification
    Job
    SBI Recruitment of 100 Specialist Officers - Last Date 12-02-2020
    Location
    Anywhere
    Date Posted
    4 Feb 2020
  3. Type
    Job Notification
    Job
    INDIAN Bank Recruitment 138 Specialist Officers - Last Date - 10-02-2020
    Location
    Anywhere
    Date Posted
    3 Feb 2020
  4. Type
    Job Notification
    Job
    KVIC Recruitment of 108 Group-B and Group-C categories - Last Date 19-01-2020
    Location
    MumbaiMaharashtra, India
    Date Posted
    7 Jan 2020
  5. Type
    Job Notification
    Job
    SAIL Durgapur Steel Plant Recruitment of Manager, Technician, Medical Service Provider - 27-01-2020
    Location
    DurgapurWest Bengal, India
    Date Posted
    7 Jan 2020
  6. Type
    Job Notification
    Job
    Indian Coast Guard Recruitment 260 Navik - Last Date 02-02-2020
    Location
    Anywhere
    Date Posted
    7 Jan 2020
  7. Type
    Job Notification
    Job
    IOCL hiring 312 Apprentices - Last Date 22-01-2020
    Location
    Anywhere
    Date Posted
    7 Jan 2020
  8. Type
    Job Notification
    Job
    RBI Recruitment NEWS for 926 Assistants - Last Date 16-01-2020
    Location
    Anywhere
    Date Posted
    7 Jan 2020
  9. Type
    Job Notification
    Job
    Janki Devi Memorial College Recruitment 71 Assistant Professor - Last Date 04-01-2020
    Location
    DelhiDelhi, India
    Date Posted
    2 Jan 2020
  10. Type
    Job Notification
    Job
    NPCIL Recruitment of Trainee, Electrician, Fitter, Machinist, Welder, Driver - Last Date 21-01-2020
    Location
    RawatbhataRajasthan, India
    Date Posted
    2 Jan 2020

Jobs by Category

Syllabus and Previous Papers

Leave a Reply

Your email address will not be published. Required fields are marked *