[Solved] Which of the following terms is NOT used in the banking fiel (2024)

FAQs

Which of the following terms is not used in banking? ›

The term Zero hour is NOT used in the banking field.

Interest Rate Swap is defined as a 'arrangement between two parties' (banks/businesses) to swap interest payments.

Which of the following is NOT a commonly used term in the context of Banking? Social banking is not a commonly used term in the context of banking. Investment banking, corporate banking, and retail banking are all well-known and widely used terms in the banking industry.

Equinox is an phenomenon when the plane of Earth's equator passes through the center of the Sun. Thus it is a natural phenomenon and is not related with banking operations.

Non-banking financial institutions include insurance companies, pension funds, and hedge funds.

the fiscal deficit is not concerned with the banking organization because the fiscal deficit is related to a country's economy not to the banking organization.

Term. The time to the maturity of a loan or deposit.

As per Section 5(b) of the Banking Regulation Act, 1949 , "banking" means the accepting, for the purpose of lending or investment, of deposits of money from the public, repayable on demand or otherwise, and withdrawable by cheque, draft, order or otherwise.

The banking industry includes systems of financial institutions called banks that help people store and use their money. Banks offer clients the opportunity to open accounts for different purposes, like saving or investing their money.

Hence, the correct answer is that savings are not included in terms of credit.

Which of the following is not the main function of banking? ›

Facilitating import of goods is not a primary function of a bank.

(i) (d) Account Risk is Not a type of risk in Banking Sector. The major risks for banks include credit, operational risk, market and liquidity risk.

Interest rate swap is used in banking field.

Final answer:

Transporting money is not a function of a banking system; this task is typically carried out by specialized security firms. Banks are involved in offering loans and accounts that facilitate transactions and reduce the need to carry cash.

The correct answer is: c) they are responsible for the conduct of monetary policy. Other than the central authority of the country, which is called a central bank, banks do not apply monetary policy.

Credit account is not a recognized term for a type of bank account. "Credit" typically refers to borrowing or the extension of credit by a bank or financial institution to a customer in the form of a loan or credit facility.