Five Banking Terms for Banking Awareness in IBPS/ SBI PO Clerk Officer Exams - Banking Terms to improve Banking Awareness in Exam-Five Most Important Banking Terms: Here most
important five Banking Terms are discussed for the purpose to improve the
performance of candidate in Upcoming Banking Exams. These terms are also
important and may be asked in interview of Bank Exams.
These tricks
to memorize some important fact of Banking terms qualify section of banking
awareness in Exam. Sometimes it is found that 2-3 questions are asked directly
from these set of data.
Banking Terms to Improve Banking Awareness for IBPS/ SBI PO Clerk Officer Exams
Importance
of Banking Terms:The purpose
of these banking terms is discussed in brief and helps to improve your
performance in upcoming exams. It is expected that 3-5 questions may be asked
from this set of data to those genuine candidate who are preparing for Banking
Exams.
Preparation
of Banking Terms:These banking
terms are written in easy and simple language so that candidate can understand /memorize
the concept of Banking.
Mode of
Preparation of Banking Awareness
www.sscexamtricks.com provides you
Banking Terms to build your banking awareness on daily basis by explaining five
important terms in brief.
Banking
Terms to improve Banking Awareness
These terms
are discussed
1.
Galloping
Inflation
When
inflation tends to increase to double or triple digits such as 999% per
annum. It is too bad for economy of any country.
The most
important question that may ask in upcoming exam is-
Galloping
Inflation had happened in India in 1956-61 during 2nd Five year
plan.
2.
Stagflation
It is the
situation where both recession and inflation occurs simultaneously. It is also
known as the situation where the prize of accommodity increases with
decrease in the employment.
3.
RTGS
The
full form of RTGS is Real Time Gross Transfer. It is fastest mode of fund
transfer system by Banking Channels in India.
Most
important questions that may ask in upcoming exam form this banking term is-
·
In
RTGS system, money can be transferred within 2 hours form one bank to another
bank.
·
The
minimum amount required to transfer is 2 lakhs and no upper limit amount to
transfer.
·
Service
Charge for RTGS
o Inward transections (Bank belong to
same regions) – No charge
o Outward transections
§ 2 Lakhs to 5 Lakhs – Rs. 30
§ Above 5 Lakhs – Rs. 55
4.
Banking
Ombudsment
It
is an office where issues related to deficiencies in services which are not
getting resolved at Bank level are solved. It is the area where general client of
various banks in India can make a complaint.
Most
Important questions that may ask in upcoming exam from this banking term is-
It
is run by RBI. If Banking Ombudsment fail to solve any issue, the issue can be
forward to Governor of RBI.
5.
SHG
The
full form of SHG is Self Help Group. It is a group of 15-20 people which work
together for the purpose of solving their common problem through mutual help
from the members of self-help group. The group members are the volunteers of
poor people preferably from the same socioeconomic background.
Most
important question that may ask in upcoming exam from this banking term is-
SHG
is promoted by NABARD and NGO.
Revise these
terms for preparation of upcoming exams.
To
download Most Important Questions of Banking,