Exam Bite (Part-7)

• South Indian bank is the first among the private sector banks in Kerala to become a scheduled bank in 1946 under the RBI Act. It has headquarters in Trissur. Tagline of this bank is ‘Experience next generation Banking’.
• Full form of BCBS is Basel Committee on Banking Supervision.
• Amortization is the repayment of principal and interest components of a loan over a period of time.
• Sale Deed is a legal document which transfers the ownership of the property or objects for a mentioned price.
• Zero Liability Protection- A bank gives this guarantee that if credit card is lost or stolen, you may not be responsible for unauthorized purchases made with that card if you report the theft promptly.
• In share market, Bear is a person who expects prices to fall and sells securities hoping to make a profit by subsequently repurchasing at a lower price.
• Dr.TarunRamadorai committee - To look at the various facets of household in India and to benchmark India’s Position.
• CP – Commercial Paper is an unsecured money market Instrument issued in the form of a promissory note. It can be issued in denominations of Rs5 lakh or multiples thereof.
• Delinquency is a condition when loan payments are not paid according to the terms of the agreement/ Promissory note.
• Bounced cheque – A cheque which a bank returns unpaid because there is not enough available balance in an account or for other reasons.
• Call rate is the rate at which the banks give loans to another banks for a short term (1 day).
• An IMPS (Immediate Payment Service) is an instant interbank electronic fund transfer service through mobile phones.
• SMERA – SME Rating Agency of India Ltd is a full service credit rating agency founded in 2005, have headquarters in Mumbai. This agency is exclusively setup for MSME in India.
• Kisan Credit Card(KCC) scheme was introduced in the year 1998 to enable the farmers to purchase agricultural inputs and draw cash for their production needs.
• Soft loan is a loan bearing either no rate of interest or an interest rate which is below the true cost of the capital lent.