Banking Terminologies

• Bank Draft – Banker’s draft is a negotiable claim drawn upon a bank. Drafts are as good as cash. The drafts cannot be returned and unpaid.
• Bank Rate – Bank rate is the rate of discount at which the central bank of the country discount first class bills. It is the rate of interest at which the central bank lends money to the lower banking institutions. Bank rate is a direct quantitative method of credit control in the economy.
• Cash Reserve Ratio (CRR) – The commercial banks are required to keep a certain amount of cash reserves at the central bank. This percentage amount is called CRR.
• Central Bank – Central Bank may be defined as the apex banking monetary institution whose main functions is to control, regulate and stabilize the banking and the monetary system of the country in the national interest.
• Cheque – Cheque is an order in writing issued by the drawer to a bank. If the customer has sufficient amount in his account, the cheque is paid by the bank. Cheques are used in place of cash money.
• Clearing Bank – Clearing Bank is one which settles the debits and credits of the commercial banks. Event of the cash balances are lesser, clearing bank facilities banking operation of the commercial bank.
• Clearing House – Clearing house in an institution which helps to settle the mutual indebtedness that occurs among the members of its organisation.
• Commercial Bank – Commercial bank is an institution of finance. It deals with the banking services through its branches in whole of the country operation of current accounts, deposits, granting of loans to individuals and companies etc. are various functions of the commercial bank.
• Commercial Bill- it is a bill of exchange drawn by the creditor on the debtor when the debtor’s acceptance is obtained the paper becomes the bill of exchange.
• Commercial paper –it is an unsecured promissory note issued by financial institutions to meet their short run financial requirements, for issuing commercial papers, it is a compulsion on the past of financial companies to follow credit rating. In India CRISIL is famous  institutions for credit rating.

Foreign Exchange Rate

Currency

Unit

Buying

Selling

Euro	1	102.43	103.30
Sterling Pound	1	116.5	117.48
American Dollar	1	71.15	71.75
Singapore Dollar	1	57.83	58.32
Australian Dollar	1	77.28	77.93
Hong Kong Dollar	1	9.15
Canadian Dollar	1	74.41	75.03
Swedish Kroner	1	11.44
Chinese Yuan	1	10.96	11.05
Swiss Franc	1	80.84	81.52
Danish Kroner	1	13.74
Japanese Yen	1	8.81	8.88

Bank

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A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:

• A central bank circulates money on behalf of a government and acts as its monetary authority by implementing monetary policy, which regulates the money supply.
• A commercial bank accepts deposits and pools those funds to provide credit, either directly by lending, or indirectly by investing through the capital markets. Within the global financial markets, these institutions connect market participants with capital deficits (borrowers) to market participants with capital surpluses (investors and lenders) by transferring funds from those parties who have surplus funds to invest (financial assets) to those parties who borrow funds to invest in real assets.
• A savings bank (known as a "building society" in the United Kingdom) is similar to a savings and loan association (S&L). They can either be stockholder owned or mutually owned, in which case they are permitted to only borrow from members of the financial cooperative. The asset structure of savings banks and savings and loan associations is similar, with residential mortgage loans providing the principal assets of the institution's portfolio.

Because of the important role depository institutions play in the financial system, the banking industry is generally regulated with government restrictions on financial activities by banks varied over time and by location. Current global bank capital requirements are referred to as Basel II. In some countries, such as Germany, banks have historically owned major stakes in industrial companies, while in other countries, such as the United States, banks have traditionally been prohibited from owning non-financial companies. In Japan, banks are usually the nexus of a cross-share holding entity known as the "keiretsu". In Iceland, banks followed international standards of regulation prior to the recent global financial crisis that began in 2007.
The oldest bank still in existence is Monte dei Paschi di Siena, headquartered in Siena, Italy, which has been operating continuously since 1472.^[1]
A Bank's main source of income is interest. A bank pays out at a lower interest rate on deposits and receives a higher interest rate on loans. The difference between these rates represents the bank's net income.^[2]

Savings

Here, We want to share something about the banking transaction. When we open savings account in any bank, they debited and credited our amount. So, we should understand that credited to our account means amount deposited to our account. Similarly, debited to our account means amount deducted from our account.

Debited=   Cash Withdrawn
Credited = Cash Deposit

Some Banking Terminolgies

Soft Copy
 A Soft copy is the un printed digital document file.
For Example: If some documents are submitted through emails or digital medias it is Soft Copy