Some Important VIVA Term

1. Classified Loan:
Any bank loan that is in danger of default is called classified loan.
2. Fiscal Policy:
The policy formulated by government for revenue collection(Taxation) and expenditure(Spending) to influence the economy is called Fiscal Policy.
3. Monetary Policy:
Monetary policy is the policy statement of the central bank regarding the supply of money to control price stability.
4. Soft Currency:
A currency with a value that fluctuates as a result of country's political or economic uncertainty is called soft currency.
5. Hard Currency:
A currency usually from a highly industrialized country, that is widely accepted around the world as a form of payment for goods and services is called hard currency.
6. Money Laundering:
Money laundering is the process of making illegally-gained proceeds (i.e., "dirty money") appear legal (i.e., "clean"). Typically, it involves three steps: placement, layering, and integration