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The dates of exams like SBI Clerk Mains can be announced any time now. RBI Assistant Mains date has been announced which is on November 22, 2020. Things are coming back to normalcy slowly and you should ensure that you utilize this time towards the preparation of different exams. General Awareness is a topic which is common across different exams such as SBI Clerk Mains, RBI Assistant Mains, SEBI Grade A etc. This is one section which can get you good marks if you are well-prepared for it. But the preparation of the General Awareness section can’t be done in days or in weeks. You need to start well in advance and therefore we have come up with this article which has a PDF of Banking Abbreviations. Start preparing current affairs with the help of Weekly PDFs.

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Banking Abbreviations are commonly asked in banking & SEBI exams. You can expect 2-3 questions from this topic in the exam. We suggest you to take a printout of this PDF and put it in such a place so that you can revise it on a regular basis. Let’s have a look at some Model Questions from this topic:

Banking Abbreviations- Model Questions for SBI Clerk Mains, RBI Assistant Mains & SEBI Grade A Phase I

1. What does ‘E’ in acronym ‘NEFT’ stand for?

a) Economic

b) Electronic

c) Employee

d) Enterprise

e) Equity

Ans: b

Solution:

NEFT stands for ‘National Electronic Funds Transfer’. 

NEFT is a nation-wide payment system facilitating one-to-one funds transfer. There is no limit – either minimum or maximum – on the amount of funds that could be transferred using NEFT. However, maximum amount per transaction is limited to Rs. 50,000/- for cash-based remittances within India and also for remittances to Nepal under the Indo-Nepal Remittance Facility Scheme.

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Important Days/Dates 2019-20 with Themes for Banking/ SSC/ RRB NTPC/ Govt. Exams


2. CFMS is a system operated by the RBI to enable operations on current accounts maintained at various offices. What “C” denotes in acronym CFMS? 

a) Core

b) Circular

c) Centralised

d) Current

e) Controlling

Ans: c

Solution:

The Centralised Funds Management System (CFMS), is a system set up, operated and maintained by the Reserve Bank of India (hereinafter referred to as the ‘Bank’) to enable operations on current accounts maintained at various offices of the Bank, through standard message formats in a secure manner.


3. ‘IFSC’ is an 11-digit alpha-numeric code assigned by RBI to identify every bank branch participating in the payment system uniquely. What is the full form of IFSC?

a) Indian Fiscal System Code

b) Intra-Bank Financial System Code

c) Indian Fiscal Source Code

d) International Financial Source Code

e) Indian Financial System Code

Ans: e

Solution: 

The Indian Financial System Code (or IFSC) is an 11-digit alpha-numeric code assigned by the Reserve Bank of India to identify every bank branch participating in the payment system uniquely.

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Direction Sense PDF- Concept, Tips & Questions for Practice


4. CBLO is a money market instrument that represents an obligation between a borrower and a lender. What does ‘B’ stands for in CBLO?

a) Banking

b) Borrowing

c) Bond

d) Bailout

e) Balance

Ans: b

Solution:

CBLO stands for ‘collateralized borrowing and lending obligation’. 

CBLO is a money market instrument that represents an obligation between a borrower and a lender as to the terms and conditions of a loan. CBLO’s are used by financial institutions that don’t have access to India’s interbank call money market. These instruments are operated by the Clearing Corporation of India Ltd. (CCIL) and Reserve Bank of India (RBI). 


5. “CAGR” is a measure of growth over multiple time periods.  What “C” denotes in acronym CAGR? 

a) Calculative

b) Compound

c) Co-related

d) Credit-linked

e) Cost-linked

Ans: b

Solution:

The compound annual growth rate (CAGR) is a useful measure of growth over multiple time periods. It can be thought of as the growth rate that gets you from the initial investment value to the ending investment value if you assume that the investment has been compounding over the time period.

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Download PDF of Banking Abbreviations


List of Important Banking Abbreviations

AbbreviationFull Form
AIRCSCAll India Rural Credit Survey Committee
ACFAuto Correlation Function
ACSAutomated Clearing System
ADAuthorized Dealer
ADBAsian Development Bank
ADRAmerican Depository Receipt
AEPSAadhaar Enabled Payments System
AFSAnnual Financial Statement
AIFAlternative Investment Fund
AMFLAssociation of Mutual Funds in India
AMLAnti-Money Laundering
AMRMSAudit and Risk Monitoring Mechanism
ANBCAdjusted Net Bank Credit
APBSAadhaar Payment Bridge System
ARCAsset Reconstruction Companies
ARIMAAuto-Regressive Integrated Moving Average
ASSOCHAMAssociated Chambers of Commerce and Industry of India.
ATMAutomated Teller Machine.
BCBSBasel Committee on Banking Supervision
BCSBIBanking Codes and Standards Board of India
BISBank for International Settlements.
BOEBill of Exchange
BOPBalance of Payments
BSBDABasic Savings Bank Deposit Account
BSCSBasel Committee on Banking Supervision
BSEBombay Stock Exchange.
BSRBasic Statistical Returns.
CADCurrent Account Deficit
CAGController and Auditor General.
CARCapital Adequacy Ratio
CARECredit Analysis and Research Limited
CASACurrent and Savings Accounts
CBLOCollateralized Bank Lending Obligations
CBSCore Banking Solution.
CCILClearing Corporation of India Limited
CCLCash Credit Limit
CDBSCommittee of Direction on Banking Statistics.
CDRSCorporate Debt Restructuring
CDSCredit Default Swap.
CEPAComprehensive Economic Partnership Management.
CFRACombined Finance and Revenue Accounts.
CGRACurrency and Gold Revaluation Account
CIBILCredit Information Bureau of India Limited
CMISCurrency Management Information System
CPFFCommercial Paper Funding Facility
CPIConsumer Price Index
CRARCapital To Risk Weighted Asset Ratio
CRILCCentral Repository of Information on Large Credits
CRISILCredit Rating Information Services Of India
CRMDCredit Risk Management Department
CRRCash Reserve Ratio
CSOCentral Statistical Organisation
CSRcorporate social responsibility
CTICountry Threat Index
DDDemand Draft
DICGCDeposit Insurance and Credit Guarantee Corporation
DPGDeferred Payment Guarantee
DPNDemand Promissory Note
DRATDebt Recovery Appellate Tribunal
DRIDifferential Rate Of Interest
DSCRDebt Service Coverage Ratio
DTAADouble Taxation Avoidance Agreement.
EADBEast African Development Bank.
EBRDEuropean Bank for Reconstruction and Development.
ECBExternal Commercial Borrowings.
ECSElectronic Clearing System.
EDIElectronic Data Interchange
EDPEntrepreneurship Development Programme
EEFCExchange Earners’ Foreign Currency
EFTPOSElectronic Funds Transfer At Point Of Sale
EIBEuropean Investment Bank
ELSSEquity Linked Saving Scheme
EMIEquated Monthly Instalments
EPFOEmployees’ Provident Fund Organisation
EPOSElectronic Point Of Sale
ESOPEmployee Stock Options
EXIMExport Import Bank of India.
FCAForeign Currency Assets.
FCCBForeign Currency Convertible Bond
FCNRAForeign Currency Nonresident Account.
FDIForeign Direct Investment.
FEDAIForeign Exchange Dealers Association Of India
FERAForeign Exchange Regulation Act
FEMAForeign Exchange Management Act
FICCIFederation of Indian Chambers of Commerce and Industry
FIIForeign Institutional Investor
FIMMDAFixed Income Money Markets and Derivatives Association
FINOFinancial Information Network and Operation Limited
FIPBForeign Investment Promotion Board.
FOBFree On Board
FPIForeign Portfolio Investment.
FRBMFiscal Responsibility and Budget Management
FSRASCFinancial Sector Regulatory Appointment Search Committee
FTAFree Trade Agreement
GAARGeneral Anti Avoidance Rule
GATSGeneral Agreement on Trade in Services
GATTGeneral Agreement on Tariffs and Trade
GDPGross Domestic Product
GDRGlobal Depository Receipt
GFDGross Fiscal Deficit
GIROGovernment Internal Revenue Order
GMSGold Monetisation Scheme
GRFGuarantee Redemption Fund
GSTGoods and Services Tax
GSTNGoods and Services Network
HDFCHousing Development Finance Corporation
IASIntegrated Accounting Systems
IBBIInsolvency and Bankruptcy Board of India
IBPSInstitute of Banking Personnel Selection.
IBRDInternational Bank for Reconstruction and Development
IDRBTInstitute for Development and Research in Banking Technology
IBUInternational Banking Unit
ICAIndian Council of Agricultural Research.
ICICIIndustrial Credit and Investment Corporation of India.
ICRAInvestment Information and Credit Rating Agency of India Limited
IDBIIndustrial Development Bank of India
IDRIndian Depository Receipts
IFCInternational Finance Corporation
IFSCIndian Financial System Code
IIBFIndian Institute of Banking and Finance.
IMFInternational Monetary Fund.
IMPSImmediate Payment Service
IPOInitial Public Offering
IPPBIndia Post Payments Bank
IRBIIndustrial Reconstruction Bank Of India
IRDAInsurance Regulatory and Development Authority of India
IROsInterest rate options
IRRInternal Rate Of Return.
ISCIInternational Standard Industrial Classification
KCCKisan Credit Card
KVICKhadi and Village Industries Corporation
KVPKisan Vikas Patra
KYCKnow Your Customer
LAFLiquidity Adjustment Facility
LERMSLiberalized Exchange Rate Management System
LIBORLondon Inter-Bank Offered Rate
MATMinimum Alternate Tax
MCLRMarginal Cost Of Lending Rate
MFDFMicro Finance Development Fund
MIBORMumbai Inter Bank Offer Rate.
MICRMagnetic Ink Character Recognition
MISManagement Information System
MSFMarginal Standing Facility
MSSMarket Stabilisation Scheme
MSPMinimum Support Price
MUDRAMicro Units Development And Refinance Agency
NABARDNational Bank For Agricultural And Rural Development
NASSCOMNational Association of Software and Services Companies
NAFEDNational Agricultural Co-operative Marketing Federation
NASNational Account Statistics
NAVNet Asset Value.
NBCNon-Banking Companies.
NBFCNon-Banking Finance Companies
NCAERNational Council of Applied Economic Research
NDTLNet Demand And Time Liability
NECSNational Electronic Clearing System
NEFTNational Electronic Funds Transfer
NFSNational Financial Switch
NHBNational Housing Bank
NPANon-Performing Assets.
NPCINational Payments Corporation Of India
NPSNational Pensions Scheme.
NPVNet Present Value
NSDLNational Securities Depository Ltd.
NSENational Stock Exchange
NSFDCNational Scheduled Castes Finance And Development Corporation
OCBOverseas Corporate Bodies
ODIsOffshore/Overseas Derivative Instruments
OECDOrganisation For Economic Cooperation And Development
OLTASOnline Tax Accounting System
OMOOpen Market Operations
OTCEIOver the Counter Exchange Of India
OTPOne-Time Password
PACSPrimary Agricultural Credit Societies
PANPermanent Account Number
PCAPrompt Corrective Action
PDSPublic Distribution System
PFRDAPension Fund Regulatory and Development Authority
PINPersonal Identification Number
PISPortfolio Investment Scheme
PLRPrime Lending Rate
P-NotesParticipatory Notes
PPFPublic Provident Fund
PPIsPrepaid Payment Instruments
PRSFPartial Risk Sharing Facility
RBIReserve Bank of India
RDBMSRelational Database Management System
RDDBFIRecovery of Debt due to Banks and Financial Institutions
RECRural Electrification Corporation
REERReal Effective Exchange Rate
RFCResident Foreign Currency
RIDFRural Infrastructure Development Fund
RoAReturn On Assets
RoEReturn On Equity
RRBRegional Rural Bank
RTGSReal Time Gross Settlement
RWARisk Weighted Assets
SARFAESISecuritization and Reconstruction of Financial Assets and Enforcement of Security Interest
SCBScheduled Commercial Bank
SCCSelective Credit Control
SDBSService Discharge Benefit Scheme
SDRSpecial Drawing Rights
SEBISecurities and Exchange Board of India
SEPASingle Euro Payment Area
SEZSpecial Economic Zone
SFMSStructured Financial Messaging Services
SGBSovereign Gold Bond
SHGSelf Help Group
SIDBISmall Industries And Development Bank Of India.
SIDCState Industrial Development Corporation
SIFISystematically Important Financial Intermediaries
SIPSystematic Investment Plans
SLRStatutory Liquidity Ratio
SMESmall and Medium Industries
STRIPSSeparate Trading for Registered Interest and Principal of Securities
SWIFTSociety For World Wide Inter Bank Financial Telecommunication
TDSTax Deducted at Source
TINTax Information Network
UBINUnique Business Identification Number
UEBAUniversal Electronic Bank Account
UIDAIUnique Identification Authority of India
UPIUnified Payments Interface
UPINUnique Property Identification Numbers
USSDUnstructured Supplementary Service Data
VPAVirtual Payment Address
WCTLWorking Capital Term Loan
WL ATMWhite Label ATM
WMAWays and Means Advances
WPIWholesale Price Index
YTMYield to Maturity

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Download PDF of Banking Abbreviations


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We hope that this PDF of Banking Abbreviation is useful in your preparation. Download other such PDFs here. Wishing you good luck with your preparation!

 

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