- A legal action in which a person who is not able to repay his loans satisfactorily is declared bankrupt by a court order.
- Basis point- one-hundredth of one percentage point (i.e.0.01%), normally used for indicating spreads or cost of finance.
- Collateral is an asset pledged to a lender to guarantee repayment. Collateral could include savings, bonds, insurance policies, jewellery,property that are pledged to pay off a loan, if payments are not made according to the contract.
- Drawer- the person who makes or draws a bill of exchange or cheque is called drawer.
- The full form of SWS is Single Window Scheme.
- Inflation in India is measured on Gross Domestic Product.
- Electronic Clearing System (ECS) is an Electronic mode of payment or receipt for transactions that are repetitive and periodic in nature.
- CAMEL denotes Capital adequacy, Asset quality, Management, Efficiency and Liquidity.
- All commercial banks including branches of foreign banks functioning in India, local area banks and regional rural banks are insured by DICGC.
- NASDAQ (National Association of Securities Dealers Automated Quotations) owned and operated by the NASD, NASDAQ is the computerized network that provides price quotations for securities traded over the counter as well as many listed securities.
- Jasbir Singh committee is the committee on differential premium system for banks in India.
- If a cheque bears a date earlier than the date on which it is presented to the bank, it is called anti dated cheque.
- Demand deposits are the deposits which are withdrawn on demand by customers.e.g. Savings and current account deposits.
Test Your Memory Take Quiz
a. mortar banking
b. cost of finance
c. brokerage fee
d. current yield
2. _________ is an asset pledged to a lender to guarantee repayment.
a. Collaborated
b. Non-personal
c. Personal
d. Collateral
3. ECS stands for
a. Electronical Cleared Certificate
b. Electronic Clearing System
c. Electronic Clearing Certification
d. Electric Clearing System
4. SWS stands for
a. Single Window Scheme
b. Systematic Window Scheme
c. Single Window System
d. Special Window System
5. What does E referd to in CAMEL
a. Efficacy
b. Efficient
c. Efficiency
d. Effluence
6. ______ is the computerized network that provides price quotations for securities traded over the counter as well as many listed securities.
a. NASDAQ
b. NASADQ
c. NASDQA
d. NSAADQ
7. If a cheque bears a date earlier than the date on which it is presented to the bank, it is called
a. non-dated cheque
b. post dated cheque
c. anti-dated cheque
d. pre-dated cheque
3. ECS stands for
a. Electronical Cleared Certificate
b. Electronic Clearing System
c. Electronic Clearing Certification
d. Electric Clearing System
4. SWS stands for
a. Single Window Scheme
b. Systematic Window Scheme
c. Single Window System
d. Special Window System
5. What does E referd to in CAMEL
a. Efficacy
b. Efficient
c. Efficiency
d. Effluence
6. ______ is the computerized network that provides price quotations for securities traded over the counter as well as many listed securities.
a. NASDAQ
b. NASADQ
c. NASDQA
d. NSAADQ
7. If a cheque bears a date earlier than the date on which it is presented to the bank, it is called
a. non-dated cheque
b. post dated cheque
c. anti-dated cheque
d. pre-dated cheque
Answers
1. b. cost of finance
2. d. Collateral
3. c. Electronic Clearing Certification
4. a. Single Window Scheme
5. c. Efficiency
6. a. NASDAQ
7. c. anti-dated cheque
