28/03/2018
-28- - 2018 Youth –
*****************BANKING AWARENESS**********************
1.Garnishee Order : A legal procedure by which a creditor can collect what a debtor owes by reaching the debtor’s property when it is in the hands of someone other than the debtor.
2.Hypothecation : Refers to securities in a margin account that an investor uses as collateral to borrow funds from a brokerage.
3.Initial Public Offering (IPO) : It is a type of public offering in which shares of a company usually are sold to institutional investors [1] that in turn, sell to the general public, on a securities exchange, for the first time.
4.JHF (Joint Hindu Family) Account : JHF is account of a firm whose business is carried out by Karta of the Joint family, acting for all the family members.
5.Joint Account : Bank account in the name of two or more individuals who jointly share its concomitant rights and liabilities. Joint holders of an account are regarded in law as together making up the ‘owner.’
6.Kiosk Banking : It is self-service solutions, allowing customers to service themselves with computer based touch screen and making different sort of transactions.
7.Lease Financing : A legal document outlining the terms under which one party agrees to rent property from another party.
8.Margin Call : A broker’s demand on an investor using margin to deposit additional money or securities so that the margin account is brought up to the minimum maintenance margin.
9.Mandate : Written authorization by a person, group, or organization (the ‘mandator’) to another (the ‘mandatary’) to take a certain course of action.
10.Non-Performing Assets (NPA) : It is defined as a credit facility in for which the interest and/or installment of Bond finance principal has remained “past due” for a specified period of time.
11.Negotiation : An act of transferring or assigning a money instrument from one person to another person in the course of business.
12.Non-Resident Accounts : These are accounts maintained by Indian nationals and Persons of Indian origin resident abroad, foreign nationals and foreign companies in India.
**********************JOIN TODAY********************************
IBS Chandigarh .
SECTOR 34.
CHANDIGARH
+91-92162-78310
(www.ibsindia.co.in)
*********************************************************************