Here is a list of Important Banking terms and their Abbreviations that you are expected to know for the upcoming Bank exams as there are 2 or 3 questions that are asked from this section.

A

ABPSAadhaar Payment Bridge System
ACSAutomated Clearing System
ADFAutomated Data Flow
AEPSAadhaar Enabled Payments Switch
ALMAsset Liability Management
AMLAnti-Money Laundering
AMRMSAudit and Risk Monitoring Mechanism
ANBCAdjusted Net Bank Credit
APBSAadhaar Payment Bridge System
ARCAsset Reconstruction Companies
ASBAApplications Supported Bank Accounts
ASSOCHAMAssociated Chambers of Commerce and Industry of India
ATMAutomated Teller Machine

B

BCBSBasel Committee on Banking Supervision
BBNLBharat Broadband Network Limited
BBPSBharat Bill Payment System
BBPCUBharat Bill Payment Central Unit
BBPOUBharat Bill Payment Operating Unit
BCBusiness Correspondent
BCBSBasel Committee on Banking Supervision
BCSBIBanking Codes and Standards Board of India
BHIMBharat Interface for Money
BISBank for International Settlements
BOEBill of Exchange
BOPBalance of Payments
BSBDABasic Savings Bank Deposit Account
BSRBasic Statistical Returns

C

CADCurrent Account Deficit
CARCapital Adequacy Ratio
CARECredit Analysis and Research Limited
CASACurrent and Savings Accounts
CBLOCollateralized Bank Lending Obligations
CBSCore Banking Solution
CCLCash Credit Limit
CDRSCorporate Debt Restructuring
CDSCredit Default Swap
CHIClearing House Interface
CIBILCredit Information Bureau of India Limited
CNPCard Not Present transaction
CPIConsumer Price Index
CRARCapital To Risk Weighted Asset Ratio
CRISILCredit Rating Information Services Of India
CRRCash Reserve Ratio
CSRCorporate Social Responsibility
CVVCard Verification Value

D

DEAF Depositor Education and Awareness Fund.
DIDFDairy Processing Infrastructure Development Fund.
DIIDomestic Institutional Investor.
DNS Domain Name System
DRATDebt Recovery Appellate Tribunal
DRIDifferential Rate Of Interest
DTAA  Double Taxation Avoidance Agreement.
DTC Direct Tax Code.

 

E

 EFSFEuropean Financial Stability Facility.
ECBExternal Commercial Borrowings
ECCSExpress Cheque Clearing System
ECSElectronic Clearing System
EDFExport Development Fund
EDIElectronic Data Interchange
EEFCExchange Earners’ Foreign Currency
EFTPOSElectronic Funds Transfer At Point Of Sale
ELSSEquity Linked Saving Scheme

 

F

FCAForeign Currency Assets
FCCBForeign Currency Convertible Bond
FCNRForeign Currency Non Resident Deposit Accounts
FCNRAForeign Currency Non Resident Account
FDIForeign Direct Investment
FEMAForeign Exchange Management Act.
FICCIFederation of Indian Chambers of Commerce and Industry
FIIForeign Institutional Investor
FIMMDAFixed Income Money Markets and Derivatives Association
FINOFinancial Inclusion Network and Operation Limited.
FIPBForeign Investment Promotion Board
FPIForeign Portfolio Investment
FRBMAFiscal Responsibility and Budget Management Act, 2003
FRNFloating Rate Note
FSDCFinancial Stability and Development Council
FTAFree Trade Agreement

 

G

GAARGeneral Anti Avoidance Rule
GDPGross Domestic Produce
GDRGlobal Depository Receipt
GFDGross Fiscal Deficit
GIROGovernment Internal Revenue Order
GMSGold Monetisation Scheme
GNFV   Gross Negative Fair Value
GSTGoods and Services Tax
GSTNGoods and Services Network

H

HCEHost Card Emulation
HDFCHousing Development Finance Corporation
HFTHeld For Trading
HICPHarmonised Index of Consumer Prices
HOHead Office
HUDCOHousing & Urban Development Corporation

I

IBBI Insolvency and Bankruptcy Board of India.
IBRDInternational Bank for Reconstruction and Development
ICAAP Internal Capital Adequacy Assessment Process.
IDBIndia Development Bonds
IDF Infrastructure Debt Fund.
IDR Indian Depository Receipts.
IDRBT Institute for Development and Research Of Banking.
IFCIIndustrial Finance Corporation of India
IFSCIndian Financial System Code.
IMPS Interbank Mobile Payment Service.
IPOInitial Public Offering.
IRDA Insurance Regulatory and Development Authority of India.
IRRInternal Rate Of Return.

K

KCC Kisan Credit Card
KVP Kisan Vikas Patra.
KYC Know Your Customer

L

LAF   Liquidity Adjustment Facility.
LERMSLiberalised Exchange Rate Management System
LGD  Loss Given Default
LIBOR London Inter-Bank Offered Rate
LICLife Insurance Corporation of India

M

MCLR  Marginal cost of fund based lending rate
MFDCMicro Finance Development Council
MFI  Micro Finance Institutions
MIBOR  Mumbai Inter Bank Offered Rate.
MICR Magnetic Ink Character Recognition.
MMID  Mobile Money Identifier
MPINMobile banking Personal Identification number
MSF Marginal Standing Facility.
MTN   Medium Term Note
MUDRA  Micro Units Development and Refinance Agency

N

 

NABARD   National Bank for Agriculture and Rural Development
NAVNet Asset Value
NBFCNon -Banking Financial Companies
NDTLNet Demand and Time Liabilities
NECSNational Electronic Clearing System
NFA   No Frills Account
NPANon- Performing Assets
NHB   National Housing Bank
NPCINational Payment Corporation of India
NFSNational Financial Switch
NACH  National Automated Clearing House
NPD   Net Primary Deficit
NPVNet Present Value
NEFT   National Electronic Fund Transfer
NFC   Near Field Communication
NPS  New Pension Scheme
NSSF   National Small Savings Fund

O

OTC   Over the Counter
OTP  One Time Password
OECD   Organisation for Economic Cooperation and Development
OECO   Organisation for Economic Co operation
OLTAS   OnLine Tax Accounting System
OMO   Open Market Operations

P

P2P   Peer to peer
PIN  Personal Identification Number
PAN  Permanent Account Number
PAC   Personal Access Code
PAC   Public Account Committee
PCA   Prompt Corrective Action
PCR   Provision Coverage Ratio
PCR   Public Credit Registry
PAT   Profit After Tax
PLR  Prime Lending Rate
PPP   Purchasing Power Parity
PPP  Public Private Partnership
PFE   Potential Future Exposure
PSPs   Payment Support Providers

Q

QIB Qualified Institutional Bankers

R

RIDF   Rural Infrastructure Development Fund
RNR   Revenue Neutral Rate
RWA   Risk Weighted Asset
RTGS   Real Time Gross Settlement

S

SLR  Statutory Liquidity Ratio
SDR   Special Drawing Rights
SHGs   Self Help Groups
SARFAESI   Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest
SFTsSecurities financing transactions

T

TDS   Tax Deducted at Source
TORA   Transparency of Rules Act
TRAI   Telecom Regulatory Authority of India
TIEA   Tax Information Exchange Agreement

U

USSD  Unstructured Supplementary Services Data
UIDAI Unique Identification Authority of India.

V

VATValue Added tax
VPA Virtual Payment Address

W

WL ATM   White Label ATM
WMA   Ways and Means Advances
WPI   Wholesale Price Index

Y

YTM Yield to Maturity

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