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Banking Related Important Concepts

Banking Related Important Concepts

Banking Related Important Concepts

Here are some of the banking terms and there concept which you should know:

What is Annuity Payments? 
Annuity: A fixed amount paid once a year or at interval of a stipulated period. 

What is Arbitration? 
Arbitration: A method for solving disputes, generally of an industrial nature, between the employer and his employees. 

What is Balance of Trade? 
Balance of Trade: The difference between the visible exports and visible imports of two countries in trade with each other is called balance of trade. 

What is a Balance Sheet of a company? 
Balance sheet: It is a statement of accounts, generally of a business concern, prepared at the end of a year, showing debits and credits under broad heads, to find out the profit and loss position.

What is a Banker’s Cheque? 
Banker's Cheque: A cheque by one bank on another. 

What is meant by Bank Rate? 
Bank Rate: It is the rate of interest charged by the Reserve Bank of India for lending money to commercial banks. 

What is ‘Black Money’? 
Black Money: It means unaccounted money. 

Define Bear in stock exchanges: 
Bear: A speculator in the stock market who believes that prices will go down. 

What is a ‘bearer’ in the context of cheques? 
Bearer: This term on cheques and bills denotes that any person holding the same has the same right in respect of it, as the person who issued it. 

What is a Bonus in the context of shares of companies? 
Bonus: It is in addition to normal payment of dividend to shareholders by a company, or an extra gratuity paid to workers by the employer. 

What is a Budget? 
Budget: An estimate of expected revenues and expenditure for a given period,usually a year, item by item.

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