Career links for all

Career Links

---

1.	Banking
	• Reserve Bank of India - www.rbi.org.in  • State Bank of India - www.statebankofindia.com  • Panjab National Bank - www.pnbindia.com  • Corporation Bank - www.corpbank.com  ________________________________________________________________________________
2.	Aviation
	• Directorate General of Civil Aviation - www.dgca.nic.in  • IATA training - www.iata.org  • Ministry of Civil Aviation - www.civilaviation.nic.in  • Indira Gandhi Rashtriya Uran Akademi - www.igrua.gov.in  ________________________________________________________________________________
3.	Civil – Services
	• Union Public Service Commission - www.upsc.gov.in/  • Staff Selection Commission - ssc.nic.in  • Department of Personal & Training - www.dopt.nic.in  _________________________________________________________________________________
4.	Medicine
	• Ministry of Health & Welfare - www.mohwf.nic.in  • Department of Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homoeopathy (AYUSH) -    www.indianmedicine.nic.in    • National Aids Control Organisation - www.nacoonline.org  • Armed Forces Medical College - www.armedforces.nic.in

banking terms used in banks

Bouncing of a cheque: Where an account does not have sufficient balance to honour the cheque issued by the customer, the cheque is returned by the bank with the reason "funds insufficient" or "Exceeds arrangement”. This is known as 'Bouncing of a cheque’.

ATM:  ATMs are Automatic Teller Machines, which do the job of a teller in a bank through Computer Network. ATMs are located on the branch premises or off branch premises. ATMs are useful to dispense cash, receive cash, accept cheques, give balances in the accounts and also give mini-statements to the customers.

Business of Banking : Accepting deposits, borrowing money, lending money, investing, dealing in bills, dealing in Foreign Exchange, Hiring Lockers, Opening Safe Custody Accounts, Issuing Letters of Credit, Travelers’ Cheques, doing Mutual Fund business, Insurance Business, acting as Trustee or doing any other business which Central Government may notify in the official Gazette.

Ask Price: The lowest price at which a dealer is willing to sell a given security.

At-the-money: The exercise price of a derivative that is closest to the market price of the underlying instrument.

Banker's Lien: Bankers lien is a special right of lien exercised by the bankers, who can retain goods bailed to them as a security for general balance of account. Bankers can have this right in the absence of a contract to the contrary.

Authorization: The issuance of approval, by a credit card issuer, merchant, or other affiliate, to complete a credit card transaction.

Automated Clearing House (ACH): A computerized facility used by member depository institutions to electronically combine, sort, and distribute inter-bank credits and debits. ACHs process electronic transfers of government securities and provided customer services, such as direct deposit of customers' salaries and government benefit payments (i.e., social security, welfare, and veterans' entitlements), and preauthorized transfers.

Asset-Backed Securities (ABS): A type of security that is backed by a pool of bank loans, leases, and other assets. Most ABS are backed by auto loans and credit cards – these issues are very similar to mortgage-backed securities.

Related posts are

banking terminology

banking related interview questions

banking notes 

banking G.K

Banking Terms

AER: Annual earnings rate on an investment

Adjustable-Rate Mortgages (ARMS): Also known as variable-rate mortgages. The initial interest rate is usually below that of conventional fixed-rate loans. The interest rate may change over the life of the loan as market conditions change.  There is typically a maximum (or ceiling) and a minimum (or floor) defined in the loan agreement. If interest rates rise, so does the loan payment. If interest rates fall, the loan payment may as well.

Account Agreement: The contract governing your open-end credit account, it provides information on changes that may occur to the account.

Arbitrage: Buying a financial instrument in one market in order to sell the same instrument at a higher price in another market

Account History: The payment history of an account over a specific period of time, including the number of times the account was past due or over limit

Account Holder: Any and all persons designated and authorized to transact business on behalf of an account. Each account holder's signature needs to be on file with the bank. The signature authorizes that person to conduct business on behalf of the account.

Affidavit: A sworn statement in writing before a proper official, such as a notary public.

Acquiring Bank: In a merger, the bank that absorbs the bank acquired.

Accrued interest: Interest due from issue date or from the last coupon payment date to the settlement date. Accrued interest on bonds must be added to their purchase price.

Adverse Action: Under the Equal Credit Opportunity Act, a creditor's refusal to grant credit on the terms requested, termination of an existing account, or an unfavorable change in an existing account.

Adverse Action Notice: The notice required by the Equal Credit Opportunity Act advising a credit applicant or existing debtor of the denial of their request for credit or advising of a change in terms considered unfavorable to the account holder.

Related posts are

banking terminology

banking related interview questions

banking notes 

banking G.K