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Lesson 11 (Common business terminology)
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Discussion on banking terminology.

Chandan Poddar
Teacher, Author and consultant. Presently teaching at

Unacademy user
Sir ji Article toh mast h... par ek issue h.... mujhe ye samjh m nhi aa rha h, isme se main point kya likhu,,,,, every thing looks important for mains.... please do something about it, bcoz even if we will clear prelims, it will be hard for us to clear mains..... so please last slide m crux likh deya karo ya fir hand written notes share kr deya karo.... (i am a beginner)
  1. Administered Rates Administered rates are the rates of interest which can be changed contractually by lender. In some cases, these rates can also be changed by the depositor and also the payee. The laws and provisions that monitor the concept of administered rates differ in each jurisdiction.

  2. American Depository Receipt ADR Ameri an depository receipts, also known as ADRs, are depository receipts which are equal to a specific number of shares of company that have been issued in a foreign country American depository receipts are traded only in the United States of America. Similar mechanism exists for other countries also.

  3. Annuities Annuities are contracts that guarantee income or return, in exchange of a huge sunm of money that is deposited, either at the same time or is paid with the help of periodic payments. Some of the common types of annuities include the deferred, fixed, immediate or variable variants.

  4. Automated Clearing House An automated clearing house is nation-wide electronic clearing houses that monitors and administers the process of check and fund clearance between banks It is an electronic system and thus minimizes the human work in the process of clearance It distributes credit and debit balances automatically.

  5. Automated Teller Machines Automated teller machines are basically used to conduct transactions with the bank, electronically The automated teller machine is an excellent example of integration of computers and electronics into the field of banking.