general awareness - important banking terms for bank exams
TRANSCRIPT
![Page 1: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/1.jpg)
Important Banking Terms
Important Banking Terms
![Page 2: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/2.jpg)
Banking Terms is Important for
IBPO PO
IBPS Clerk
IBPS RRB
SBI PO
RBI Exams
LIC Exams
![Page 3: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/3.jpg)
The Benefits of Learning Banking Terms
Very Scoring Topic
Easy To Learn
Easy To Remember
It is Also Useful for Daily Life
Click here to Prepare for IBPS PO – IBPS PO Interview Experience
![Page 4: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/4.jpg)
Start With Easy Topics
![Page 5: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/5.jpg)
Plastic Money
![Page 6: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/6.jpg)
Banking TermsPLASTIC MONEY
Plastic Cards used instead actual Bank Notes.
Ex. - Cash Cards, Credit Cards, Debit Cards, Pre-paid Cash Cards &
Store Cards.
Click here to Prepare for IBPS Clerk - IBPS Clerk Recruitment
![Page 7: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/7.jpg)
DEBIT CARD (Gift Card)
Type of Plastic Money
Alternative payment method for cash withdrawals
Prepaid ATM card
Transfer money electronically when making a purchase
![Page 8: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/8.jpg)
CREDIT CARD
To borrow money when you purchases
Sent a bill every month of your total purchase.
Post Paid Money Card
Allowing the holder to purchase services on credit
![Page 9: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/9.jpg)
SMART CARD
Chip Card or Integrated Circuit Card
Can Process Information
Plastic Card with a built-in microprocessor
Used for Financial Transactions.
Click here to Prepare for IBPS SO Recruitment – IBPS SO
![Page 10: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/10.jpg)
Bank Accounts
![Page 11: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/11.jpg)
SAVING ACCOUNT
Save money & Earn interest.
Least profitable type of short-term investment
Interest Rate ranges between 4% - 6% per annum.
The Number & amount of deposits - no restriction
![Page 12: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/12.jpg)
CURRENT ACCOUNT
Useful for Businessmen
Not used for investment or saving
No limit for transaction numbers or Amount
No interest is paid
Frequent deposits and withdrawals by cheque
![Page 13: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/13.jpg)
RECURRING DEPOSIT ACCOUNT (RD)
Save small Fixed amount every month.
Earn interest at the rate applicable to Fixed Deposits.
Minimum Period of RD is 6 months and maximum is 10 years.
Click here to Prepare for IBPS RRB - IBPS RRB Recruitment
![Page 14: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/14.jpg)
FIXED DEPOSIT
ACCOUNT
Money is deposited for a stated period of time and a fixed interest rate is
paid at the end of that period.
Period - 7 days to 10 Years
Also known as Term Deposits or Bond.
![Page 15: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/15.jpg)
Important Rates
![Page 16: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/16.jpg)
BANK RATE
Bank Rate is a tool, which central bank uses for short-term purpose
Bank rate is the rate charged by the central bank for lending funds to commercial banks.
![Page 17: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/17.jpg)
The rate at which the RBI lends money to commercial banks in the
event of any shortfall of funds.
REPO RATE
Visit - IBPS PO Question Papers
![Page 18: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/18.jpg)
The rate at which the RBI borrows money from commercial banks
within the country.
REVERSE REPO RATE
![Page 19: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/19.jpg)
STATUTORY LIQUIDITY RATIO (SLR)
The ratio of banks total deposits for which banks are required to keep with themselves
It might be in form of cash, gold, government securities and deposits in other banks as current account.
![Page 20: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/20.jpg)
CASH RESERVE RATIO (CRR)
Cash Reserve Ratio (CRR) is the amount of funds that the banks have to keep with the RBI.
![Page 21: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/21.jpg)
Important Links
IBPS PO Recruitment
IBPS Clerk Recruitment
IBPS RRB Recruitment
IBPS SO Recruitment
![Page 22: General Awareness - Important Banking Terms for bank Exams](https://reader035.vdocuments.us/reader035/viewer/2022081515/58732a3a1a28ab596c8b56d3/html5/thumbnails/22.jpg)
Thank You