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.
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.
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.
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.
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