BankExamsToday Express Bites: Part 28

• The full form of OECD is Organization for Economic Co-operation and Development.
• Market order - an order to buy or sell a security at the next available price. All market orders are day orders.
• Revolving credit is a bank credit that is renewed automatically until notice of cancellation is received. Revolving credit may be sanctioned for an unlimited amount in total but with a limit on the amount that may be drawn at any one time or within a specified period.
• Repayment is the process of returning of the borrowed loan amount. The repayment has to be made for the entire tenure of the loan amount.
• Marketable title- the title of a property which is clear and the owner of the property have proper authority and rights to transfer the same.
• Key currency, the term refers a currency which is internally acceptable and is used in international payments.
• Indian bank was established in 1907 and it was nationalized in 1969. It is headquartered in Chennai, Tamilnadu. Tagline of this bank is "Taking banking technology to the common man / your tech-friendly bank."
• The postal department has issued a commemorative stamp in the name of Central Bank of India celebrating 100 years in 2011.
• When ATM’s are connected to an ATM network, they are said to be ‘networked’. The advantage of networked ATMs is that cardholders can use their ATM cards at any of the networked ATM’s.
• B.N.Goldar is a committee on productivity growth for the Indian Economy.
• Dear money policy is adopted to squeeze the credit utilisation facilities in the economy. Under dear money policy interest rate is increased which helps in controlling inflation in the economy.
• Coverage Ratio - Equity minus net NPA divided by total assets minus intangible assets.

Take Quiz

1. ______ an order to buy or sell a security at the next available price.

a. Market order

b. Security order

c. Available order

d. Temporary order

2. _______ is a bank credit that is renewed automatically until notice of cancellation is received. 

a. Promoting credit

b. Circular credit

c. Rotating credit

d. Revolving credit

3. _______ currency which is internally acceptable and is used in international payments.

a. Market currency

b. Key currency

c. International currency

d. Usable currency

4. Tagline of Indian Bank is

a. Taking banking technology to the common man

b. Honours your trust

c. Good people to bank with

d. Your trusted family bank

5. Under dear money policy interest rate is

a. increased

b. decreased

c. equalised

d. None of these

Answers

1. a. Market order

2. d. Revolving credit

3. b. Key currency

4. a. Taking banking technology to the common man

5. a. increased

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