Bank-PO (NRA) General-Awareness Banking and Finance Terms and Persons (Page 17 of 44)

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Direct Taxes

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Taxes which affect the consumer directly, such as income tax, corporate tax, capital gains tax etc.

Discount

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The amount by which a bond or preferred stock sells below its par or face value. In foreign exchange market, it is the amount by which forward price is less than the spot price. In general, it means an extent of reduction in the price/value of the asset/product which is given when it is sold.

Dividends

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Company earnings that may be paid out to shareholders according to the number of shares or stocks they hold. Dividends can be earned on stocks as also units of mutual funds.

Documentary Credit

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Written undertaking by a bank on behalf of an importer authorizing an exporter to draw drafts on the bank up to a specified amount under specific terms and conditions. They are used to facilitate international trade. Also called Letter of Credit (LC) .