Important Terms 4- For Competitive exams


Important Terms 4- For competitive exams

This page include a glossary of Important terms which are being discussed and asked in competitive exams

  • Financial Inclusion :: Financial Inclusion simply means banking the un-banked. It can be referred to as bringing the daily wage earners, landless labours, people living in slum areas etc. to the banking channel. Financial inclusion gives them an opportunity to save for themselves and in turn help the government to directly credit subsidy to their accounts. From time to time there have been many financial inclusion schemes that have come up, the latest of which was Pradhan Mantri Jan Dhan Yojana, which proved to be very successful.

  • SWOT Analysis :: SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. SWOT analysis is a tool for auditing an organization and its environment. It is the first stage of planning and helps marketers to focus on key issues. Strengths and weaknesses are internal factors. Opportunities and threats are external factors.
  • Clearing House :: A department of an exchange or a separate legal entity that provides a range of services related to the clearance and settlement of trades and the management of risks associated with the resulting contracts. A clearing house is often central counterparty to all trades, that is, the buyer to every seller and the seller to every buyer.

  • Direct Marketing :: Direct Marketing is a form of advertising that directly reaches to the customers on a personal basis (like phone calls, private mailings, etc) rather than traditional channel of advertising (like TV, Newspapers, etc).Types of Direct marketing: There are many types of direct marketing, only some important types are listed below and these are the most form of direct marketing.
    • Direct Mail Marketing:- Advertising material sent directly to home and business addresses. This is the most common form of direct marketing.
    • Telemarketing:- It is the second most common form of direct marketing, in which marketers contact consumers by phone.
    • Email Marketing:- This type of marketing targets customers through their email accounts.

  • Foreign Exchange Reserves :: Foreign exchange reserves (also called FOREX Reserves) in a strict sense are only the foreign currency deposits and bonds held by central banks and monetary authorities. However, the term in popular usage commonly includes foreign exchange and gold, SDRs and IMF reserve positions.

  • SENSEX and NIFTY :: SENSEX is the short term for the words “Sensitive Index” and is associated with the Bombay (Mumbai) Stock Exchange (BSE). The SENSEX was first formed on 1-1-1986 and used the market capitalization of the 30 most traded stocks of BSE. Whereas NSE has 50 most traded stocks of NSE. SENSEX IS THE INDEX OF BSE. AND NIFTY IS THE INDEX OF NSE.BOTH WILL SHOW DAILY TRADING MARKS. Sensex and Nifty both are an “index”. An index is basically an indicator it indicates whether most of the stocks have gone up or most of the stocks have gone down.

  • NASSCOM :: The National Association of Software and Services Companies (NASSCOM), the Indian chamber of commerce is a consortium that serves as an interface to the Indian software industry and Indian BPO industry. Maintaining close interaction with the Government of India in formulating National IT policies with specific focus on IT software and services maintaining a state of the art information database of IT software and services related activities for use of both the software developers as well as interested companies overseas.
  • What is NBFC :: A non-banking financial company (NBFC) is a company registered under the Companies Act, 1956 and is engaged in the business of loans and advances, acquisition of shares/stock/bonds/debentures/securities issued by government, but does not include any institution whose principal business is that of agriculture activity, industrial activity, sale/purchase/construction of immovable property. NBFCs are doing functions akin to that of banks; however there are a few differences:
    • A NBFC cannot accept demand deposits (demand deposits are funds deposited at a depository institution that are payable on demand — immediately or within a very short period — like your current or savings accounts.)
    • it is not a part of the payment and settlement system and as such cannot issue cheques to its customers; and
    • Deposit insurance facility of DICGC is not available for NBFC depositors unlike in case of banks.
  • Consumer Protection Act :: It is implemented from 1987 to enforce consumer rights through a simple legal procedure. Banks also are covered under the Act. A consumer can file complaint for deficiency of service with Consumer District Forum for amounts up to Rs.20 Lacs in District Court, and for amounts above Rs.20 Lacs to Rs.1 Crore in State Commission and for amounts above Rs.1 Crore in National Commission.
  • Non-Resident External Accounts (NRE) :: Non-Resident External accounts are the ones in which NRIs remit money in any permitted foreign currency and the remittance is converted to Indian rupees for credit to NRE accounts. The accounts can be in the form of current, saving, FDs, recurring deposits. The interest rates and other terms of these accounts are as per the RBI directives.

(Visited 117 time, 1 visit today)