TOP HEADLINES –26.12.2014

1. Apurvi Chandela, the young shooter from Jaipur, who bagged the gold medal at the Commonwealth Games in Glasgow has shot her way to become the national champion in women’s 10m air rifle event at the 58th National Shooting Championships in Pune.

जयपुर की युवा शूटर अपूर्वी चंदेला जिन्होंने ग्लासगो में राष्ट्रमंडल खेलों में स्वर्ण पदक जीता था, एक बार फिर नेशनल चैम्पियन बन गई हैं। वे पुणे में 58वीं राष्ट्रीय निशानेबाजी चैंपियनशिप में महिलाओं की 10 मीटर एयर राइफल की श्रेणी में राष्ट्रीय चैम्पियन बनी हैं।

2. China and Nepal signed an agreement to expand the use of their currencies for border trade. The agreement was signed between the People's Bank of China (PBOC) and Nepal Rastra Bank (NRB). The agreement will boost bilateral trade and investment ties between the China and Nepal. According to the agreement, the two countries will use local currencies (Yuan and Nepal rupee) for settlement in both cross-border trade and ordinary trade activities. Both the countries also signed memorandum of understanding on anti-money laundering and anti-terrorism cooperation.

चीन और नेपाल ने सीमा व्यापार के लिए अपनी मुद्राओं के उपयोग का विस्तार करने के लिए एक समझौते पर हस्ताक्षर किए। समझौते पर पीपुल्स बैंक ऑफ चाइना (पीबीओसी) और नेपाल राष्ट्र बैंक (एनआरबी) के बीच हस्ताक्षर किए गए थे। समझौता चीन और नेपाल के बीच द्विपक्षीय व्यापार और निवेश संबंधों को बढ़ावा देगा। समझौते के अनुसार, दोनों देश सीमा पार से व्यापार और साधारण व्यापार गतिविधियों दोनों में निपटान के लिए स्थानीय मुद्राओं (युआन और नेपाल रुपया) का उपयोग करेंगे। दोनों देशों ने धनशोधन रोधी और आतंकवाद रोधी सहयोग पर समझौता ज्ञापन पर भी हस्ताक्षर किए।

3. The military chiefs of Afghanistan and Pakistan agreed to co-ordinate on military operations along border of two countries. Army chief General of Afghanistan Sher Mohammad Karimi and General of Pakistan Raheel Sharif agreed to co-operate in the presence of US General John Campbell, who heads NATO coalition forces in Afghanistan. The two countries also agreed to jointly take effective actions against terrorism and extremism.

अफगानिस्तान और पाकिस्तान के सैन्य प्रमुख दोनों देशों की सीमा पर सैन्य अभियानों पर समन्वय करने के लिए सहमत हुए। अफगानिस्तान के सेना प्रमुख जनरल शेर मोहम्मद करीमी और पाकिस्तान के जनरल राहील शरीफ अमेरिकी जनरल जॉन कैम्पबेल जो अफगानिस्तान में नाटो गठबंधन सेना के प्रमुख हैं, की उपस्थिति में सहयोग करने के लिए सहमत हुए। दोनों देश संयुक्त रूप से आतंकवाद और उग्रवाद के खिलाफ प्रभावी कार्रवाई करने पर भी सहमत हो गए।

4. With Shinzo Abe getting re-elected as Japan's Prime Minister, Gen Nakatani has been appointed the new defence minister. Other than him, all other cabinet members will retain their positions, Xinhua reported. Defence minister Akinori Eto declined the reappointment due to a political fund scandal.

जापान के प्रधानमंत्री पद पर शिंजो अबे के दोबारा से निर्वाचित होने के बाद जनरल नकातानी को जापान का नया रक्षा मंत्री नियुक्त किया गया है। समाचार एजेंसी सिन्हुआ की रपट के मुताबिक नकातानी के अलावा सभी कैबिनेट सदस्यों को उनके पद पर बना रहने दिया जाएगा। एक राजनीतिक निधि घोटाला मामले के कारण रक्षा मंत्री अकिनोरी ईटो ने पुनर्नियुक्ति से मना कर दिया था।

5. According to Polish Handball Federation (ZPRP) President Andrzej Krasnicki, Poland will host the European Men's Handball Championship in January 2016. Sixteen teams will compete at the tournament, which will be held in four cities in Poland. 

पोलैंड हैंडबॉल महासंघ (जेडपीआरएफ) के अध्यक्ष आंद्रजेज क्रासनिकि के अनुसार पोलैंड पुरुषों के यूरोपीय हैंडबॉल चैम्पियनशिप की मेज़बानी जनवरी, 2016 में करेगा। इस टूर्नामेंट में 16 टीमें हिस्सा लेंगी। यह टूर्नामेंट पोलैंड के चार शहरों में आयोजित होगा।

6. Young Kidambi Srikanth continued his meteoric rise in world badminton as he ended the season by becoming only the third Indian male shuttler to break into the top-five, reaching a career-high fourth after hovering in the 40s in the beginning of the year.

युवा किदाम्बी श्रीकांत ने विश्व बैडमिंटन में आगे बढ़ना जारी रखा है। वह सत्र के आखिर में दुनिया के चोटी के पांच खिलाडियों में शामिल हो गया। इस वर्ष के शुरु में 40 से अधिक की रैंकिंग रखने वाले श्रीकांत विश्व बैडमिंटन की ताजा रैकिंग में अपने करियर के सर्वश्रेष्ठ चौथे स्थान पर पहुंच गये हैं और वह शीर्ष पांच में जगह बनाने वाले तीसरे भारतीय पुरुष खिलाड़ी बन गये हैं।

7. Former Governor of Himachal Pradesh R.K.S. Gandhi passed away. Gandhi died at the age of 90 in Mumbai. He served as the Governor of Himachal Pradesh from April 1986 to February 1990.

हिमाचल प्रदेश के पूर्व राज्यपाल आर.के.एस गांधी का निधन हो गया। गांधी का निधन मुंबई में 90 वर्ष की आयु में हुआ। वह अप्रैल 1986 से फरवरी 1990 तक हिमाल प्रदेश के राज्यपाल रहे।

8. Energy giant Reliance Industries Ltd. (RIL) has signed an agreement with Japan's Mitsui OSK Lines Ltd. for shipping liquefied ethane from North America to India. RIL said it has signed shipping agreements with one of the world's largest and reputed shipping companies Mitsui.

ऊर्जा की दिग्गज कंपनी रिलायंस इंडस्ट्रीज लिमिटेड (आरआईएल) ने भारत में उत्तरी अमेरिका से तरलीकृत इथेन की शिपिंग के लिए जापान की मित्सुई ओएसके लाइन्स लिमिटेड के साथ एक समझौते पर हस्ताक्षर किए हैं। आरआईएल के अनुसार उसने दुनिया की सबसे बड़ी और प्रतिष्ठित शिपिंग कंपनियों में से एक, मित्सुई के साथ शिपिंग समझौतों पर हस्ताक्षर किए हैं।

9. Oil India Ltd., India's second-largest government-owned exploration firm, has commissioned its first 5 MW solar power plant in Rajasthan. OIL, which has so far built only small solar power plants, built and commissioned its first grid connected 5 MW unit at village Raghwa in Ramgarh district of Rajasthan.

भारत की दूसरी सबसे बड़ी सरकारी स्वामित्व वाली उत्खनन कंपनी, ऑयल इंडिया लिमिटेड ने राजस्थान में अपना पहला 5 मेगावाट सौर ऊर्जा संयंत्र शुरू किया है। ओआईएल जिसने अब तक केवल छोटे सौर ऊर्जा संयंत्रों का निर्माण किया है, ने राजस्थान के रामगढ़ जिले में गांव राघवा में 5 मेगावाट इकाई से जुड़ी पहली ग्रिड को बनाया तथा शुरू किया। 

10. Online marketplace Snapdeal has partnered India Post to jointly work on bringing thousands of weavers and artisans from Varanasi through its website. Snapdeal has launched a pilot with India Post to set-up facilitation desks at Varanasi post offices to enable local weavers to sell on its platform.

ऑनलाइन बिक्री पोर्टल स्नैपडील ने बनारस के हजारों बुनकरों और कारीगरों को बाजार उपलब्ध कराने के लिये भारतीय डाक के साथ भागीदारी की है। इस भागीदारी की शुरुआत करते हुये स्नैपडील ने बनारस के डाकघरों में अपने सुविधा केंद्र खोले हैं। इनके माध्यम से बनारस के स्थानीय बुनकर अपने उत्पादों की बिक्री कर सकेंगे।

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Important Banking Questions- 26-12-2014

Q.1. Who has been appointed as the Chairman and Managing Director of Coal India Ltd. (CIL)?

Ans: (2) S. Bhattacharya

Q.2. How much loan has been raised by Private sector lender Yes Bank from Asian Development Bank for onlending to small  farm households and rural womens’ self help groups (SHG)?

Ans: (3) $200 million

Q.3. ________has been granted a license by the Reserve Bank of India to operate as a Non Banking Financial Company in India.

Ans: (1) Ford Credit India Pvt. Ltd.

Q.4. K. Balachander passed away. He was a Tamil __________.

Ans: (3) Film Director

Q.5. According to International Monetary Fund (IMF) oil prices will remain low in the future which will help boost the global economy next year between 0.3 and 0.7 percent more than the ___________planned.

Ans: (4) 3.8 percent

Q.6. Which of the following former Prime Ministers of India will be given Bharat Ratna as announced by President Pranab Mukherjee?

Ans: (2) Atal Bihari Vajpayee 

Q.7. Which of the following launched its largest ever missile ship named 'Tuo Chiang'?

Ans: (3) Taiwan

Q.8. The deadline for exchanging pre-2005 currency notes of various denominations has been extended from January 1, 2015 to ___________

(4) June 30, 2015

Q.9. Which country clinched the first South Asian Women's Volleyball Championship title?

Ans: (1) India

Q.10. The government allowed ___________FDI under automatic route in medical devices sector  to encourage manufacturing of equipments, including diagnostic kits and other devices.

Ans: (4) 100 percent

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Recruitment to the post of Officers in Grade ‘A’ and Grade ‘B’ in NABARD

NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT 
released notification for Recruitment to the post of Officers in Grade ‘A’ and Grade ‘B’ 


Online Application Registration-  From 24 December 2014 To 15 January 2015

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BANKING GLOSSARY (Alphabet-A)

Account Agreement:
The contract governing your open-end credit account, it provides information on changes that may occur to the account.

Account History:
The payment history of an account over a specific period of time, including the number of times the account was past due or over limit.

Account Holder:
Any and all persons designated and authorized to transact business on behalf of an account. Each account holder's signature needs to be on file with the bank. The signature authorizes that person to conduct business on behalf of the account.

Accrued Interest:
Interest that has been earned but not yet paid.

Acquiring Bank:
In a merger, the bank that absorbs the bank acquired.

Adjustable-Rate Mortgages (ARMS):
Also known as variable-rate mortgages. The initial interest rate is usually below that of conventional fixed-rate loans. The interest rate may change over the life of the loan as market conditions change. 
There is typically a maximum (or ceiling) and a minimum (or floor) defined in the loan agreement. If interest rates rise, so does the loan payment. If interest rates fall, the loan payment may as well.

Adverse Action:
Under the Equal Credit Opportunity Act, a creditor's refusal to grant credit on the terms requested, termination of an existing account, or an unfavorable change in an existing account.

Adverse Action Notice:
The notice required by the Equal Credit Opportunity Act advising a credit applicant or existing debtor of the denial of their request for credit or advising of a change in terms considered unfavorable to the account holder.

Affidavit:
A sworn statement in writing before a proper official, such as a notary public.

Alteration:
Any change involving an erasure or rewriting in the date, amount, or payee of a check or other negotiable instrument.

Amortization:
The process of reducing debt through regular installment payments of principal and interest that will result in the payoff of a loan at its maturity.

Annual Percentage Rate (APR):
The cost of credit on a yearly basis, expressed as a percentage.

Annual Percentage Yield (APY):
A percentage rate reflecting the total amount of interest paid on a deposit account based on the interest rate and the frequency of compounding for a 365-day year.

Annuity:
A life insurance contract sold by insurance companies, brokers, and other financial institutions. It is usually sold as a retirement investment. An annuity is a long-term investment and can have steep surrender charges and penalties for withdrawal before the annuity's maturity date. (Annuities are not FDIC insured.)

Application:
Under the Equal Credit Opportunity Act (ECOA), an oral or written request for an extension of credit that is made in accordance with the procedures established by a creditor for the type of credit requested.

Appraisal:
The act of evaluating and setting the value of a specific piece of personal or real property.

Authorization:
The issuance of approval, by a credit card issuer, merchant, or other affiliate, to complete a credit card transaction.

Automated Clearing House (ACH):
A computerized facility used by member depository institutions to electronically combine, sort, and distribute inter-bank credits and debits. ACHs process electronic transfers of government securities and provided customer services, such as direct deposit of customers' salaries and government benefit payments (i.e., social security, welfare, and veterans' entitlements), and preauthorized transfers.

Automated Teller Machine (ATM):
A machine, activated by a magnetically encoded card or other medium, that can process a variety of banking transactions. These include accepting deposits and loan payments, providing withdrawals, and transferring funds between accounts.

Automatically Protected:
As of May 1, 2011, up to two months of Federal benefits such as Social Security benefits, Supplemental Security Income benefits, Veteran’s benefits, Railroad Retirement benefits, and benefits from the Office of Personnel Management that are direct deposited to an account may be protected from garnishment. The amount automatically protected will depend upon the balance of the account on the day of review.

Automatic Bill Payment:
A checkless system for paying recurring bills with one authorization statement to a financial institution. For example, the customer would only have to provide one authorization form/letter/document to pay the cable bill each month. The necessary debits and credits are made through an Automated Clearing House (ACH).

Availability Date:
Bank's policy as to when funds deposited into an account will be available for withdrawal.

Availability Policy:
Bank's policy as to when funds deposited into an account will be available for withdrawal.

Available Balance:
The balance of an account less any hold, uncollected funds, and restrictions against the account.

Available Credit:
The difference between the credit limit assigned to a cardholder account and the present balance of the account.

Read More :

• BANKING GLOSSARY (Alphabet-B)
• BANKING GLOSSARY (Alphabet-C)
• BANKING GLOSSARY (Alphabet-D)

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BANKING GLOSSARY (Alphabet-B)

Balance Transfer:
The process of moving an outstanding balance from one credit card to another. This is usually done to obtain a lower interest rate on the outstanding balance. Transfers are sometimes subjected to a Balance Transfer Fee.

Bank Custodian:
A bank custodian is responsible for maintaining the safety of clients' assets held at one of the custodian's premises, a sub-custodian facility or an outside depository.

Bank Examination:
Examination of a bank's assets, income, and expenses-as well as operations by representatives of Federal and State bank supervisory authority-to ensure that the bank is solvent and is operating in conformity with banking laws and sound banking principles.

Bank Statement:
Periodically the bank provides a statement of a customer's deposit account. It shows all deposits made, all checks paid, and other debits posted during the period (usually one month), as well as the current balance.

Banking Day:
A business day during which an office of a bank is open to the public for substantially all of its banking functions.

Bankrupt:
A bankrupt person, firm, or corporation has insufficient assets to cover their debts. The debtor seeks relief through a court proceeding to work out a payment schedule or erase debts. In some cases, the debtor must surrender control of all assets to a court-appointed trustee.

Bankruptcy:
 The legal proceedings by which the affairs of a bankrupt person are turned over to a trustee or receiver for administration under the bankruptcy laws. There are two types of bankruptcy:

• Involuntary bankruptcy-one or more creditors of an insolvent debtor file a petition having the debtor declared bankrupt.
• Voluntary bankruptcy-the debtor files a petition claiming inability to meet financial obligations and willingness to be declared bankrupt.

Beneficiary:
A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract.

Billing Cycle:
The time interval between the dates on which regular periodic statements are issued.

Billing Date:
The month, date, and year when a periodic or monthly statement is generated. Calculations have been performed for appropriate finance charges, minimum payment due, and new balance.

Billing Error:
A charge that appears on a periodic statement associated with an extension of credit (e.g., credit card) that

• was not authorized by the cardholder or the cardholders' designee,
• is not properly identified, and
• was not accepted by the cardholder or the cardholder's designee.

A billing error can also be caused by a creditor's failure to credit a payment or other credit to an account as well as accounting and clerical errors.

Bond, U.S. Savings:
Savings bonds are issued in face value denominations by the U.S. Government in denominations ranging from $50 to $10,000. They are typically long-term, low-risk investment tools.

Business Day:
Any day on which offices of a bank are open to the public for carrying on substantially all of the bank's business.


Read More :

• BANKING GLOSSARY (Alphabet-A)
• BANKING GLOSSARY (Alphabet-C)
• BANKING GLOSSARY (Alphabet-D)

Read More

BANKING GLOSSARY (Alphabet-C)

Canceled Check :
A check that a bank has paid, charged to the account holder's account, and then endorsed. Once canceled, a check is no longer negotiable.

Cashier's Check:
A check drawn on the funds of the bank, not against the funds in a depositor's account. However, the depositor paid for the cashier's check with funds from their account. The primary benefit of a cashier's check is that the recipient of the check is assured that the funds are available.

Cease and Desist Letter:
A letter requesting that a company stops the activity mentioned in the letter.

Certificate of Deposit:
A negotiable instrument issued by a bank in exchange for funds, usually bearing interest, deposited with the bank.

Certificate of Release:
A certificate signed by a lender indicating that a mortgage has been fully paid and all debts satisfied.

Certified Check:
A personal check drawn by an individual that is certified (guaranteed) to be good. The face of the check bears the words "certified" or "accepted," and is signed by an official of the bank or thrift institution issuing the check. The signature signifies that

• the signature of the drawer is genuine, and 
• sufficient funds are on deposit and earmarked for payment of the check.

Charge-off:
The balance on a credit obligation that a lender no longer expects to be repaid and writes off as a bad debt.

Check:
A written order instructing a financial institution to pay immediately on demand a specified amount of money from the check writer's account to the person named on the check or, if a specific person is not named, to whoever bears the check to the institution for payment.

Check 21 Act:
Check 21 is a Federal law that is designed to enable banks to handle more checks electronically, which is intended to make check processing faster and more efficient. Check 21 is the short name for the Check Clearing for the 21st Century Act, which went into effect on October 28, 2004.

Check Truncation:
The conversion of data on a check into an electronic image after a check enters the processing system. Check truncation eliminates the need to return canceled checks to customers.

Checking Account:
A demand deposit account subject to withdrawal of funds by check.


Closed-End Credit :
Generally, any credit sale agreement in which the amount advanced, plus any finance charges, is expected to be repaid in full by a specified date. Most real estate and automobile loans are closed-end agreements.

Closed-End Loan:
Generally, any loan in which the amount advanced, plus any finance charges, is expected to be repaid in full by a specified date. Most real estate and automobile loans are closed-end agreements.

Closing a Mortgage Loan:
The consummation of a contractual real estate transaction in which all appropriate documents are signed and the proceeds of the mortgage loan are then disbursed by the lender.

Closing Costs:
The expenses incurred by sellers and buyers in transferring ownership in real property. The costs of closing may include the origination fee, discount points, attorneys' fees, loan fees, title search and insurance, survey charge, recordation fees, and the credit report charge.

Collateral:
Assets that are offered to secure a loan or other credit. For example, if you get a real estate mortgage, the bank's collateral is typically your house. Collateral becomes subject to seizure on default.

Collected Funds:
Cash deposits or checks that have been presented for payment and for which payment has been received.

Collection Agency:
A company hired by a creditor to collect a debt that is owed. Creditors typically hire a collection agency only after they have made efforts to collect the debt themselves, usually through letters and telephone calls.

Collection Items:
Items-such as drafts, notes, and acceptances-received for collection and credited to a depositor's account after payment has been received. Collection items are usually subject to special instructions and may involve additional fees. Most banks impose a special fee, called a collection charge, for handling collection items.

Collective Investment Funds (CIFs):
A Collective Investment Fund (CIF) is a trust created and administered by a bank or trust company that commingles assets from multiple clients. The Federal securities laws generally require entities that pool securities to register those pooled vehicles (such as mutual funds) with the SEC. However, Congress created exemptions from these registration requirements for CIFs so long as the entity offering these funds is a bank or other authorized entity and so long as participation in the fund is restricted to only those customers covered by the exemption. If these limitations are met, CIFs are exempt from SEC registration and reporting requirements.

Co-Maker:
A person who signs a note to guarantee a loan made to another person and is jointly liable with the maker for repayment of the loan. (Also known as a Co-signer.)

Community Reinvestment Act:
The Act is intended to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low- and moderate-income neighborhoods. It was enacted by the Congress in 1977.

Consumer Credit Counseling Service:
A service which specializes in working with consumers who are overextended with debts and need to make arrangements with creditors.

Consumer Reporting Agency:
An agency that regularly collects or evaluates individual consumer credit information or other information about consumers and sells consumer reports for a fee to creditors or others. Typical clients include banks, mortgage lenders, credit card companies, and other financing companies.

Conventional Fixed Rate Mortgage:
A fixed-rate mortgage offers you a set interest rate and payments that do not change throughout the life, or "term," of the loan.
A conventional fixed-rate loan is fully paid off over a given number of years-usually 15, 20, or 30. A portion of each monthly payment goes towards paying back the money borrowed, the "principal"; the rest is "interest."

Co-Signer:
An individual who signs the note of another person as support for the credit of the primary signer and who becomes responsible for the obligation. (Also known as a Co-maker.)

Credit Application:
A form to be completed by an applicant for a credit account, giving sufficient details (residence, employment, income, and existing debt) to allow the seller to establish the applicant's creditworthiness. Sometimes, an application fee is charged to cover the cost of loan processing.

Credit Bureau:
An agency that collects individual credit information and sells it for a fee to creditors so they can make a decision on granting loans. Typical clients include banks, mortgage lenders, credit card companies, and other financing companies. Also commonly referred to as a consumer reporting agency or a credit reporting agency.

Credit Card Account Agreement:
A written agreement that explains the

• terms and conditions of the account,
• credit usage and payment by the cardholder, and
• duties and responsibilities of the card issuer.

Credit Card Issuer:
Any financial institution that issues bank cards to those who apply for them.

Credit Disability Insurance:
A type of insurance, also known as accident and health insurance, that makes payments on the loan if you become ill or injured and cannot work.

Credit Life Insurance:
A type of life insurance that helps repay a loan if you should die before the loan is fully repaid. This is optional coverage.

Credit Limit:
The maximum amount of credit that is available on a credit card or other line of credit account.

Credit Repair Organization:
A person or organization that sells, provides, performs, or assists in improving a consumer's credit record, credit history or credit rating (or says that that they will do so) in exchange for a fee or other payment. It also includes a person or organization that provides advice or assistance about how to improve a consumer's credit record, credit history or credit rating. There are some important exceptions to this definition, including many non-profit organizations and the creditor that is owed the debt.

Credit Report:
A detailed report of an individual's credit history prepared by a credit bureau and used by a lender in determining a loan applicant's creditworthiness.

Credit Score:
A number, roughly between 300 and 800, that measures an individual's credit worthiness. The most well-known type of credit score is the FICO® score. This score represents the answer from a mathematical formula that assigns numerical values to various pieces of information in your credit report.
Banks use a credit score to help determine whether you qualify for a particular credit card, loan, or service.

Cut-Off Time:
A time of day established by a bank for receipt of deposits. After the cut-off time, deposits are considered received on the next banking day.


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• BANKING GLOSSARY (Alphabet-A)
• BANKING GLOSSARY (Alphabet-B)
• BANKING GLOSSARY (Alphabet-D)

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BANKING GLOSSARY (Alphabet-D)

Debit:

A debit may be an account entry representing money you owe a lender or money that has been taken from your deposit account.

Debit Card:

A debit card allows the account owner to access their funds electronically. Debit cards may be used to obtain cash from automated teller machines or purchase goods or services using point-of-sale systems. The use of a debit card involves immediate debiting and crediting of consumers' accounts.

Debt Collector:

Any person who regularly collects debts owed to others.

Debt Elimination Scheme:

A debt elimination scheme is a plan that is advertised as a way for an individual to eliminate various types of debt simply by paying someone a small fee compared to the amount of debt to be eliminated. These schemes are fraudulent.

As a result of using a fraudulent scheme, individuals will lose money, could lose property, will damage their credit rating, and possibly incur additional debt. In addition, a creditor may take legal action against an individual to resolve a fraudulent attempt to eliminate debt. It is also possible for the victim to have identify theft occur by participating in such a fraudulent scheme.

Debtor:

Someone who owes monies to another party.

Debt-to-Income Ratio (DTI):

The percentage of a consumer's monthly gross income that goes toward paying debts. Generally, the higher the ratio, the higher the perceived risk. Loans with higher risk are generally priced at a higher interest rate.

Decedent:

A deceased person, ordinarily used with respect to one who has died recently.

Deferred Payment:

A payment postponed until a future date.

Delinquency:

A debt that was not paid when due.

Demand Deposit:

A deposit of funds that can be withdrawn without any advance notice.

Deposit Slip:

An itemized memorandum of the cash and other funds that a customer presents to the bank for credit to his or her account.

Derogatory Information:

Data received by a creditor indicating that a credit applicant has not paid his or her accounts with other creditors according to the required terms.

Direct Deposit:

A payment that is electronically deposited into an individual's account at a depository institution.

Direct Dispute:

A dispute submitted directly to the furnisher about the accuracy of information in your consumer report that relates to an account or other relationship you have with the furnisher.

Disclosures:

Certain information that Federal and State laws require creditors to give to borrowers relative to the terms of the credit extended.

Draft:

A signed, written order by which one party (the drawer) instructs another party (the drawee) to pay a specified sum to a third party (the payee), at sight or at a specific date. Typical bank drafts are negotiable instruments and are similar in many ways to checks.

Drawee:

The person (or bank) who is expected to pay a check or draft when it is presented for payment.

Drawee bank:

The bank upon which a check is drawn.

Drawer:

The person who writes a check or draft instructing the drawee to pay someone else.

Read More :

• BANKING GLOSSARY (Alphabet-A)
• BANKING GLOSSARY (Alphabet-B)
• BANKING GLOSSARY (Alphabet-C)

Read More