Answer Posted / nandhini devi

Hi This is Nandhini from Dindigul, Tamil Nadu

I also selected for Interview!

Here some banking terminolgy for non-com students

REPO RATE: - Under repo transaction the borrower places
with the lender certain acceptable securities against funds
received and agree to reverse this transaction on a
predetermined future date at agreed interest cost. Repo
rate is also called (repurchase agreement or repurchase
option).

REVERSE REPO RATE: - is the interest rate earned by the
bank for lending money to the RBI in exchange of govt.
securities or "lender buys securities with agreement to
sell them back at a predetermined rate".

CASH RESERVE RATIO: - specifies the percentage of their
total deposits the commercial bank must keep with central
bank or RBI. Higher the CRR lower will be the capacity of
bank to create credit.

SLR: - known as Statutorily Liquidity Ratio. Each bank is
required statutorily maintain a prescribed minimum
proportion of its demand and time liabilities in the form
of designated liquid asset.
OR
"Every bank has to maintain a percentage of its demand and
time liabilities by way of cash, gold etc".

BANK RATE: - is the rate of interest which is charged by
RBI on its advances to commercial banks. When reserve bank
desires to restrict expansion of credit it raises the bank
rate there by making the credit costlier to commercial
bank.

OVERDRAFT:- It is the loan facility on customer current
account at a bank permitting him to overdraw up to a
certain agreed limit for a agreed period ,interest is
payable only on the amount of loan taken

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