{"id":25537243,"date":"2022-08-07T20:00:27","date_gmt":"2022-08-07T14:30:27","guid":{"rendered":"https:\/\/entri.app\/blog\/?p=25537243"},"modified":"2022-08-07T19:52:11","modified_gmt":"2022-08-07T14:22:11","slug":"banking-terms-in-jaiib-ppb","status":"publish","type":"post","link":"https:\/\/entri.app\/blog\/banking-terms-in-jaiib-ppb\/","title":{"rendered":"Banking Terms in JAIIB PPB"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\"><strong>JAIIB<\/strong>, one of the central courses is led by the Indian Institute of Banking and Finance(IIBF). JAIIB Exam is performed for 3 papers PPB(Full form &#8211; Principles and Practices of Banking), AFB(Accounting and Finance for Bankers), and LRAB(Legal and Regulatory Aspects of Banking).<strong> PPB<\/strong> is the foremost paper in which the basic principles and practices of banking are dealt with. To qualify for the PPB Paper the contenders must have a crystal clear knowledge of all the topics. In this article, we have discussed the banking terms that will be advantageous to the contenders in their preparation for the exam.<\/span><\/p>\n<p style=\"text-align: center\"><a href=\"https:\/\/entri.sng.link\/Bcofz\/od54\/6blp\" target=\"_blank\" rel=\"noopener\"><strong>For More Banking Notes for Preparation of Exams, Download the ENTRI Learning App!<\/strong><\/a><\/p>\n<h2><strong>JAIIB PPB Banking Terms &#8211; Overview<\/strong><\/h2>\n<p><span data-preserver-spaces=\"true\">The contenders qualifying for the <strong>JAIIB PPB Exam<\/strong> must keep the banking terms at their tips. When the terms of banking are clear they will get control over the topics of PPB. Some of the banking terms that will be advantageous for a contender are noted below:<\/span><\/p>\n<ul>\n<li><strong><span data-preserver-spaces=\"true\">Account:<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0An account guides an arrangement by which an organization such as a bank bears the financial assets of a customer and holds them on the wish of the customer.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Automated Clearing House(ACH):<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0Automated Clearing House is also known as Direct Payments because money is moved from one bank account to another without the use of cheques, cash, etc. ACH is utilized for electronic payments and money transfers between banks, businesses, and individual customers.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Automated Teller Machine(ATM):<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0A computerized electronic machine through which the funds of a bank account holder can be handled efficiently. A person can perform several functions through an ATM such as depositing or withdrawing money, checking the balance of their account, etc.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Base Rate:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">A minimum rate of interest set by the central bank of the country that is used by all the other banks to deliver the loan to its customers is called a base rate.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">National Electronic Funds Transfer(NEFT):\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">An electronic fund transfer system between banks that are secured, economical, efficient, and reliable. The Reserve Bank of India(RBI) carries the National Electronic Fund Transfer system. The money through NEFT is moved from one bank to another or within the same branch.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Collateral:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">Property or something valuable provided to the bank in exchange for a loan is called collateral.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Asset:<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0Any resource or valuable item that is owned and managed by a business is called an asset.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">MICR Code:<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0The full form of MICR is Magnetic Ink Character Recognition and a special and unique MICR Code is designated by the RBI to every branch of the bank. It is a nine-digit code that is used for determining a bank and branch participating in the ECS Credit scheme.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">KYC:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">The full form of the term KYC is Know Your Customer. To know the proper identity of a customer KYC is undergone by all the banks. The procedure of KYC makes sure that no fraudulent activities are taking place in the bank.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Capital Budgeting:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">Capital Budgeting is the procedure through which a business decides to purchase any fixed asset or invest in a particular project.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Plastic Money:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">Mostly credit cards and debit cards are referred to as plastic money. The money that is used by people not in the form of hard cash is called plastic money.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Mobile Banking:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">The banking services that are operated by people with the help of a mobile phone are called Mobile Banking.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Bank Rate:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">The rate at which the banks borrow money from the RBI is called the bank rate.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Monetary Policies:\u00a0<\/span><\/strong><span data-preserver-spaces=\"true\">To establish a standard banking procedure in the country the Reserve Bank of India assigns certain rules and regulations which are known as Monetary Policies.<\/span><\/li>\n<\/ul>\n<p><span data-preserver-spaces=\"true\">These are some major banking terms in JAIIB PPB. We hope that this article will help the contenders to know more about the Banking terms in JAIIB PPB. For more details and better study material, the contenders can access our <a href=\"https:\/\/entri.sng.link\/Bcofz\/od54\/6blp\" target=\"_blank\" rel=\"noopener\"><strong>ENTRI Learning App.<\/strong><\/a><\/span><\/p>\n<p style=\"text-align: center\"><a href=\"https:\/\/entri.sng.link\/Bcofz\/od54\/6blp\" target=\"_blank\" rel=\"noopener\"><strong>Click Here to Download the ENTRI Learning App and Ace Your Competitive Exams!<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JAIIB, one of the central courses is led by the Indian Institute of Banking and Finance(IIBF). JAIIB Exam is performed for 3 papers PPB(Full form &#8211; Principles and Practices of Banking), AFB(Accounting and Finance for Bankers), and LRAB(Legal and Regulatory Aspects of Banking). PPB is the foremost paper in which the basic principles and practices [&hellip;]<\/p>\n","protected":false},"author":89,"featured_media":25537245,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[802,246,1863],"tags":[],"class_list":["post-25537243","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-banking","category-banking-notes"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Banking Terms in JAIIB PPB - Entri Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/entri.app\/blog\/banking-terms-in-jaiib-ppb\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banking Terms in JAIIB PPB - Entri Blog\" \/>\n<meta property=\"og:description\" content=\"JAIIB, one of the central courses is led by the Indian Institute of Banking and Finance(IIBF). JAIIB Exam is performed for 3 papers PPB(Full form &#8211; Principles and Practices of Banking), AFB(Accounting and Finance for Bankers), and LRAB(Legal and Regulatory Aspects of Banking). PPB is the foremost paper in which the basic principles and practices [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/entri.app\/blog\/banking-terms-in-jaiib-ppb\/\" \/>\n<meta property=\"og:site_name\" content=\"Entri Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/entri.me\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-07T14:30:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/entri.app\/blog\/wp-content\/uploads\/2022\/08\/Banking-P.png\" \/>\n\t<meta property=\"og:image:width\" content=\"820\" \/>\n\t<meta property=\"og:image:height\" content=\"615\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Ashifa Ali\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@entri_app\" \/>\n<meta name=\"twitter:site\" content=\"@entri_app\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ashifa Ali\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/entri.app\/blog\/banking-terms-in-jaiib-ppb\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/entri.app\/blog\/banking-terms-in-jaiib-ppb\/\"},\"author\":{\"name\":\"Ashifa Ali\",\"@id\":\"https:\/\/entri.app\/blog\/#\/schema\/person\/b241d12c98b2da672c5a146bc59767c7\"},\"headline\":\"Banking Terms in JAIIB PPB\",\"datePublished\":\"2022-08-07T14:30:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/entri.app\/blog\/banking-terms-in-jaiib-ppb\/\"},\"wordCount\":680,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/entri.app\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/entri.app\/blog\/banking-terms-in-jaiib-ppb\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/entri.app\/blog\/wp-content\/uploads\/2022\/08\/Banking-P.png\",\"articleSection\":[\"Articles\",\"Banking\",\"Banking Notes\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/entri.app\/blog\/banking-terms-in-jaiib-ppb\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/entri.app\/blog\/banking-terms-in-jaiib-ppb\/\",\"url\":\"https:\/\/entri.app\/blog\/banking-terms-in-jaiib-ppb\/\",\"name\":\"Banking Terms in JAIIB PPB - 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