UCSB Gazetted Officer Recruitment key terms

The interest rate at which the Reserve Bank of India lends short-term funds to commercial banks against government securities, used as the main tool to control inflation and money supply.

The rate at which the Reserve Bank of India absorbs surplus liquidity from banks by borrowing their funds, usually set below the repo rate within the liquidity adjustment framework.

The share of a bank's net demand and time liabilities that must be kept as cash with the Reserve Bank of India, earning no interest and reducing funds available for lending.

The minimum proportion of net demand and time liabilities a bank must hold in approved liquid assets such as government securities, cash or gold, over and above the cash reserve requirement.

The total of a bank's demand deposits and time deposits, adjusted for balances held with other banks, forming the base on which reserve requirements like CRR and SLR are calculated.

A loan or advance on which interest or principal has remained overdue for more than ninety days, requiring the bank to classify it as substandard, doubtful or loss-making.

A 2002 Indian law allowing banks and financial institutions to seize and sell mortgaged assets of defaulting borrowers without approaching a court, after issuing the prescribed notice.

A scheme providing short-term crop loans and working capital to farmers through a simple card-based credit limit, with interest subvention for prompt repayment.

A Reserve Bank of India mandate requiring banks to direct a fixed minimum share of credit to agriculture, micro and small enterprises, weaker sections and other specified sectors.

A system under which one bank is designated as the lead bank in each district to coordinate credit planning, branch expansion and government-sponsored lending programmes.

The ratio of a bank's capital to its risk-weighted assets, showing how far losses can be absorbed before depositors are exposed; Indian banks follow Basel III norms.

An international set of banking standards on capital quality, leverage and liquidity, framed after the 2008 crisis, which Indian banks implement through Reserve Bank of India guidelines.

A method of bookkeeping in which every transaction is recorded with equal debits and credits in two or more accounts, so that total debits always equal total credits.

A statement listing all ledger account balances at a given date to test whether total debits equal total credits before preparing final accounts.

The first written record of a business transaction in chronological order, showing the accounts debited and credited, the amount and a short narration.

A book containing accounts in which journal entries are posted under their respective heads, so that the balance of each account can be found.

The systematic reduction in the book value of a fixed asset over its useful life because of wear, time or obsolescence, charged as an expense in the profit and loss account.

An accounting principle under which income and expenses are recognised in the period to which they relate, regardless of when cash is actually received or paid.

The accounting rule that expenses incurred to earn revenue must be recorded in the same period as that revenue, so that profit for the period is measured correctly.

A statement of a firm's assets, liabilities and capital at a particular date, showing that total assets equal total liabilities plus owners' equity.

A voluntary association of persons who join to promote common economic interests, managed on the principle of one member one vote and registered under state cooperative law.

The statutory officer who registers cooperative societies, supervises their functioning, conducts audits and can order inquiries, inspections or dissolution under the cooperative law.

The registered rules of a cooperative society covering membership, share capital, management, elections and distribution of surplus, which govern its internal working.

The elected body of a cooperative society that manages its affairs, formulates policy and is accountable to the general body of members.

The assembly of all members of a cooperative society, which is the supreme authority for approving accounts, electing the managing committee and amending bye-laws.

A quasi-judicial body constituted under cooperative law to hear appeals and disputes relating to cooperative societies, including election and audit matters.

A village-level cooperative society that provides short-term crop loans and input credit to farmer members, usually affiliated to a district central cooperative bank.

A cooperative bank operating at district level that finances primary agricultural credit societies and provides banking services, forming the middle tier of the short-term cooperative credit structure.

The apex institution of the short-term cooperative credit structure in a state, which finances district central cooperative banks and acts as a balancing centre for the system.

The National Bank for Agriculture and Rural Development, established in 1982 as the apex development bank for agriculture, rural credit and cooperative institutions.

The compulsory examination of a cooperative society's accounts by an auditor authorised under the cooperative Act, reported to the society and the Registrar.

The three-tier rural local government structure of gram panchayat, panchayat samiti and zila panchayat created by the 73rd Constitutional Amendment Act of 1992.

The senior Indian Administrative Service officer in charge of law and order, revenue administration and licensing in a district, also serving as collector.

The officer responsible for implementing rural development schemes at block level and for coordinating the work of village-level functionaries under the panchayat system.

The two administrative divisions of Uttarakhand, Kumaon and Garhwal, each headed by a divisional commissioner and further divided into districts.

A high-altitude national park in Chamoli district of Uttarakhand, famous for alpine flowers and a UNESCO World Heritage Site within the Nanda Devi Biosphere Reserve.