BANKING AFFAIRS

Detailed explanation-1: -The term Zero hour is NOT used in the banking field. Zero Hour is a term used in Parliament. Zero Hour is the time when Members of Parliament can raise Issues regarding the urgent public importance.

Detailed explanation-2: -Apartheid refers to the discrimination on the ground of race. It is widely practiced in South Africa. Thus it is social term and has not used in banking and finance.

Detailed explanation-3: -Consolidation term is not related to Banking/Finance operations.

Detailed explanation-4: -Interest Rate Swap is defined as a ‘arrangement between two parties’ (banks/businesses) to swap interest payments. The principal amount will not be traded or exchanged in this approach; just the interest rate will be swapped or exchanged. It converts a variable rate loan’s interest into a fixed cost.

Detailed explanation-5: -Banking institutions tend to accept deposits and provide loans. Non-banking financial institutions include insurance companies, investment banks, and mutual funds such as the SBI Mutual Fund.