Banking Terminologies

1. ATM (Automated Teller Machine): A machine that allows customers to perform basic banking
transactions, such as withdrawing cash, depositing money, or checking account balances.
2. Bank Statement: A periodic summary of a bank account's activity, including deposits,
withdrawals, and interest earned.
3. Savings Account: A bank account designed for storing money for future use, often offering
interest on the balance.
4. Current Account: A current account, also known as a checking account in some regions, is a type
of bank account that is designed for everyday transactions.
5. Interest Rate: The percentage charged by a lender (or paid by a bank on deposits) for the use of
money.
6. Loan: A sum of money borrowed from a bank or financial institution with an agreement to repay
it, usually with interest, over a specified period.
7. Credit Score: A numerical representation of an individual's creditworthiness, based on their credit
history and other financial behavior.
8. Overdraft: Occurs when a withdrawal from a bank account exceeds the available balance, leading
to a negative balance.
9. Collateral: An asset or property that is used as security for a loan. It can be seized by the lender if
the borrower fails to repay the loan.
10. Wire Transfer: A method of electronically transferring funds from one bank account to another.
11. APR (Annual Percentage Rate): The total cost of borrowing, including interest and fees, expressed
as a percentage. It is 7.10% in NatWest right now for the loans between Pound 7500 to Pound
14950.
12. Credit Card: A plastic card issued by a bank that allows the cardholder to make purchases on
credit.
13. Mortgage: A loan used to finance the purchase of real estate, with the property serving as
collateral.
14. Bankruptcy: A legal process where individuals or businesses declare themselves unable to repay
their debts, leading to a structured resolution of outstanding obligations.
15. Debit Card: A card that allows the cardholder to make electronic transactions by directly debiting
funds from their bank account.
16. Merchant Services: Financial services that enable businesses to accept payments through credit
and debit cards.
17. Foreclosure: The legal process through which a lender repossesses a property due to the
borrower's failure to meet mortgage payments.
18. Know Your Customer (KYC): The process by which financial institutions verify the identity of their
customers to prevent fraudulent activities and comply with AML regulations.
19. Customer Due Diligence (CDD): The process of gathering information about a customer to assess
and manage the risks associated with that customer in terms of money laundering.
20. Suspicious Activity Report (SAR): A report filed by financial institutions to government authorities
when they identify suspicious or potentially illegal transactions.
 21. Terrorist Financing: The process of providing funds to support terrorist activities, often involving
money laundering techniques.
22. Currency Transaction Report (CTR): A report filled by financial institutions to report cash
transactions over a certain threshold, as required by AML regulations.
23. Shell Company: A business entity created for the purpose of holding and managing assets without
active business operations. It can be used to disguise the true ownership of assets.
24. Commercial Bank: A commercial bank is a financial institution that provides a range of banking
services to individuals, businesses, and governments. These services typically include accepting
deposits, providing loans, and offering various financial products and services. Commercial banks
play a crucial role in the economy by facilitating the flow of money, supporting economic
activities, and promoting financial stability.
25. Micro Finance - Small loans provided to the poor in urban, rural and sub-urban parts of the
country in order to help them raise their income level is known as micro financing.

FinCrime: "FinCrime" is a term that refers to financial crime, encompassing a wide range of illegal
activities related to the financial sector. Various terms are used to describe specific types of financial
crimes and illicit activities. Here are some key terms related to financial crime:

1. Money Laundering: Money laundering is the process of hiding the source of money obtained from
illegal sources and converting it to a clean source, thereby avoiding prosecution, conviction, and
confiscation of the criminal funds. It is an illegal exercise that converts black money into white
money.
2. Anti-Money Laundering (AML): Policies, procedures, and regulations designed to prevent and
detect activities related to money laundering.
3. Fraud: Deliberate deception to secure unfair or unlawful gain, often involving false representation
or dishonesty.
4. Embezzlement: The misappropriation or theft of funds entrusted to an individual, often an
employee, for personal use.
5. Bribery and Corruption: Offering, giving, receiving, or soliciting something of value to influence
the actions of an official or other person in a position of trust for personal gain.
6. Terrorist Financing: Providing funds or financial support to individuals or organizations engaged
in terrorism or terrorist activities.
7. Identity Theft: Acquiring and using someone else's personal information, such as Social Security
numbers or financial account details, for fraudulent purposes.
8. Insider Trading: Trading securities based on material, non-public information, giving individuals
an unfair advantage in the stock market.
9. Cybercrime: Criminal activities carried out using computers or the internet, including hacking,
phishing, ransomware attacks, and other forms of digital fraud.
10. Forgery: Falsifying documents or signatures with the intent to deceive for financial gain.
11. Smuggling: Illegally transporting goods or people across borders, often to evade taxes or
restrictions.
 12. Sanctions Violations: Engaging in transactions or activities that violate economic sanctions
imposed by governments or international bodies.
13. Pyramid Schemes/Ponzi Schemes: Fraudulent investment schemes where returns are paid to
earlier investors from funds contributed by new investors, rather than from profit earned.
14. Tax Evasion: The illegal act of not paying owed taxes by underreporting income or inflating
deductions.
15. Asset Forfeiture: The seizure of assets gained through criminal activities.

Fund Transfer Terminologies:

16. EFT (Electronic Funds Transfer): The electronic exchange or transfer of money from one account
to another.
17. IMPS: The transfer of funds is completed immediately via IMPS. You can transfer money 24x7 by
using this method. IMPS can be completed by using internet banking or mobile banking. Various
digital banks in India use IMPS services to transfer money. Depending on the bank, the transaction
charges may vary.
18. NEFT: Under NEFT, you can transfer funds from one bank branch to another bank branch that is
under the scheme. However, NEFT transactions take longer when compared to IMPS.
19. RTGS: Another payment mode that occurs in real-time and on a gross basis is RTGS. RTGS is mainly
used for higher value transfers that require immediate clearance. RTGS transactions can be
completed only during hours.

Indian Banking Terms

Cash Reserve Ratio (CRR) - RBI has mandated all banks to maintain a certain percentage of the total bank
deposits in cash. This percentage with regard to the total deposits is called cash reserve ratio.

Statutory Liquidity Ratio (SLR) - The minimum reserve required by the bank to maintain in the form of
gold is called statutory liquidity ratio.

Bank Rate - This is the rate of interest that the RBI levies on banks if they wish to borrow money.

Repo rate -is the interest rate at which the central bank lends money to commercial banks.

Reverse Repo Rate -is the rate at which commercial banks can park their surplus funds with the central
bank, creating a borrowing and lending relationship between them
General Questions
Introduce yourself.

What is your Strength as a Banking Expert?

Why you want to work with NAT West.?

What is your Weakness?

Do your SWOT.

Introduction to the Company

NatWest Group is a British banking and insurance holding company that offers personal and business
banking, private banking, investment banking, insurance, and corporate finance.

NatWest Group was originally called National & Commercial Banking Group and was incorporated in
1968. In 1968, National Provincial Bank and Westminster Bank merged to form National Westminster
Bank, also known as NatWest.

NatWest Group is a relationship bank for a digital world. We champion potential; breaking down barriers
and building financial confidence so the 19 million people, families and businesses we serve in
communities throughout the UK and Ireland can rebuild and thrive. If our customers succeed, so will we.