The banded iron layers are formed in sea water when oxygen is released by photosynthetic cyano-bacteria. The oxygen then combines with dissolved iron in ocean to form insoluble iron oxides, which precipitated out, forming a thin layer of banded iron formation on ocean floor.
Turbidite is a type of sedimentary rock formed when a river carries or transports pieces of broken rock as it flows. These particles then settle down and are subjected to high temperature and pressures hence forming Turbidite.