Bank-PO (IBPS) General-Awareness Banking and Finance Revision (Page 29 of 40)

Power of Attorney

A power of attorney is a document, which gives power to the person appointed by it to act for the person who signed the document.


Payment of the principal amount of a loan ahead of the scheduled date.

Present Value

The discounted value of a payment or stream of payments to be received in future, taking into consideration a specific interest or discount rate. Present Value represents a series of future cash flows expressed in today’s value.

Prime Lending Rate (PLR)

The rate of interest charged on loans by banks to their most creditworthy customers.


Amount of debt that must be repaid. Also means a person who deals in securities on his own account and not as a broker.

Product Differentiation

Development of a variety of product configurations to appeal to a variety of consumer tastes.

Product Life Cycle

A conceptual model of the stages through which products or lines of businesses pass. Includes development, growth, maturity, and decline. Each stage presents its own threats and opportunities.

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