Plastic Money
Plastic Money refers to hard plastic cards like credit cards, debit cards, cash cards, dollar cards, and other similar cards. It is being used in everyday life for making payments and replacing the use of paper cash.
Point of sale (POS)
Point of sale (POS) is also known as the point of purchase. It is the time and place where a customer completes its retail transaction by making payment in exchanges of goods and services.
POS (Point of Sale) terminal/ Process Data Quickly (PDQ) machine
A point of sale terminal (POS terminal) is an electronic handheld device. It is used to process card payments at retail location and prints a receipt.
Premium Rate.
In banking, a premium is the cost or reward of the risk borne or taken by banks while issuing the loans to its customers. It is the percentage that is added with the base rate of the particular bank which gives interest rate for lending. The premium rate differs from one customer to another and also on different package and sector.
Prime Interest Rate
Prime interest rate is the lowest rate of interest charged by banks to its largest, most secure, and most creditworthy customers on short-term loans. This rate is used as a guide for computing interest rates for other borrowers.
Repo Rate
The word “repo” means a repurchase agreement. Repo rate is the rate at which the Central Bank of a country lends money to its commercial banks against securities in the event of any shortfall of funds.
Reserve Repo Rate
Reserve Repo is just the opposite if the repo where the Central Bank borrows money from the commercial banks. So the reverse repo rate is the rate at which the central bank of the country borrows money from its commercial banks for short term purposes.
thank you very much for useful post
ReplyDeleteThanks
ReplyDelete