Banking abbreviations are short forms of terms used in the banking industry to enhance communication efficiency. They are frequently tested in bank exams, particularly in the General Knowledge or General Awareness section. Understanding these abbreviations is crucial for candidates preparing for exams like SBI PO, RBI Exam, IBPS PO, and IBPS RRB.

Key Points:

• This article provides essential information on over 100 banking and finance abbreviations for comprehensive preparation.
• Candidates can access A-Z letter-wise abbreviations of finance and banking terms relevant to Bank PO, Clerk, SO, Grade B, and Assistant exams.
• Downloadable banking abbreviations PDF is available for offline preparation of SBI, IBPS, and RBI exams.

What are Banking Abbreviations?

Banking abbreviations are letter-based short forms of terms used for convenience. While not directly included in the Bank Exam Syllabus, they often appear in the General Awareness section, carrying a significant weightage of 8-10 marks.

List of Banking Abbreviations

Note: This list is not exhaustive, and there are many other banking abbreviations that may be encountered in exams. Candidates are advised to thoroughly study all relevant abbreviations to enhance their chances of success.

Banking Abbreviation

A

• ACF: AutoCorrelation Function
• AD: Authorised Dealer
• ADB: Asian Development Bank
• ADR: American Depository Receipt
• AFS: Annual Financial Statement
• AIRCSC: All India Rural Credit Survey Committee
• ASSOCHAM: Associated Chambers of Commerce and Industry of India

B

• BIS: Bank for International Settlements
• BoP: Balance of Payments
• BSCS: Basel Committee of Banking Supervision
• BSR: Basic Statistical Returns

C

• CAD: Capital Account Deficit
• CAG: Controller and Auditor General of India
• CC: Cash Credit
• CD: Certificate of Deposit
• CR Ratio: Credit Deposit Ratio
• CF: Company Finance
• CFRA: Combined Finance and Revenue Accounts
• CGRA: Currency and Gold Revaluation Account
• CII: Confederation of Indian Industry
• CO: Capital Outlay
• CP: Commercial Paper
• CPI: Consumer Price Index
• CR: Capital Receipts
• CRAR: Capital to Risk-Weighted Asset Ratio
• CRR: Cash Reserve Ratio
• CVC: Central Vigilance Commission

D

• DBOD: Department of Banking Operations and Development
• DCB: Demand Collection and Balance
• DCCB: District Central Co-operative Bank
• DCM, RBI: Department of Currency Management, RBI
• DD: Demand Draft
• DEIO: Department of External Investments and Operations
• DGCI&S: Directorate General of Commercial Intelligence and Statistics
• DI: Direct Investments
• DICGC: Deposit Insurance and Credit Guarantee Corporation of India
• DID: Discharge of Internal Debt
• DMA: Departmentalized Ministries Account
• DRI: Differential Rate of Interest Scheme
• DSBB: Dissemination Standards Bulletin Board
• DVP: Delivery Versus Payment

E

• ECB: External Commercial Borrowing
• ECB: European Central Bank
• ECGC: Export Credit and Guarantee Corporation
• ECS: Electronic Clearing Scheme
• EDMU: External Debt Management Unit
• EEA: Exchange Equalization Account

Financial Terms and Acronyms

EEC - European Economic Community The European Economic Community was a political and economic union of European countries that existed from 1957 to 1993. It was the precursor to the European Union.

EEFC - Exchange Earners Foreign Currency Exchange Earners Foreign Currency accounts are special types of bank accounts that allow individuals and businesses to hold foreign currency in India.

EFR - Exchange Fluctuation Reserve Exchange Fluctuation Reserve is a reserve account maintained by the Reserve Bank of India to manage fluctuations in the exchange rate of the Indian rupee.

EXIM Bank - Export Import Bank of India The Export Import Bank of India is a financial institution that provides financial assistance to Indian exporters and importers.

FCA - Foreign Currency Assets Foreign Currency Assets are assets held by a country’s central bank or other financial institutions in foreign currencies.

FCCB - Foreign Currency Convertible Bond A Foreign Currency Convertible Bond is a type of bond that can be converted into a specified number of shares of the issuing company’s stock.

FCNRB(B) - Foreign Currency Non-resident (Banks) Foreign Currency Non-resident (Banks) accounts are special types of bank accounts that allow non-resident banks to hold foreign currency in India.

FCNRA - Foreign Currency Non Resident Account Foreign Currency Non Resident Accounts are special types of bank accounts that allow non-resident individuals to hold foreign currency in India.

FCNRD - Foreign Currency Non Repatriable Deposit Foreign Currency Non Repatriable Deposits are special types of bank deposits that allow non-resident individuals to hold foreign currency in India, but cannot be repatriated back to their home country.

FDI - Foreign Direct Investment Foreign Direct Investment is a type of investment where a foreign investor directly invests in a business in another country.

FEMA - Foreign Exchange Management Act The Foreign Exchange Management Act is a law that regulates the foreign exchange market in India.

FI - Financial Institution A Financial Institution is a company that provides financial services, such as banks, credit unions, and insurance companies.

FICCI - Federation of Indian Chambers of Commerce and Industry The Federation of Indian Chambers of Commerce and Industry is a non-profit organization that represents the interests of Indian businesses.

FII - Foreign Institutional Investor A Foreign Institutional Investor is an institutional investor that is based outside of India and invests in Indian securities.

FIMMDA - Fixed Income Money Market and Derivatives Association of India The Fixed Income Money Market and Derivatives Association of India is a self-regulatory organization for the fixed income and derivatives markets in India.

FISIM - Financial Intermediation Services Indirectly Measured Financial Intermediation Services Indirectly Measured is a measure of the financial services provided by banks and other financial institutions that are not directly measured in the national accounts.

FLAS - Foreign Liabilities and Assets Survey The Foreign Liabilities and Assets Survey is a survey conducted by the Reserve Bank of India to collect data on the foreign liabilities and assets of Indian residents.

FOF - Flow of Funds Flow of Funds is a measure of the movement of money between different sectors of the economy.

FPI - Foreign Portfolio Investment Foreign Portfolio Investment is a type of investment where a foreign investor purchases stocks, bonds, or other financial assets in another country.

FRA - Forward Rate Agreement A Forward Rate Agreement is a contract between two parties to exchange a specified amount of currency at a specified exchange rate on a specified future date.

FRN - Floating Rate Note A Floating Rate Note is a type of bond whose interest rate is tied to a benchmark interest rate, such as the LIBOR.

GDP - Gross Domestic Product Gross Domestic Product is a measure of the total economic output of a country.

GDR - Global Depository Receipt A Global Depository Receipt is a certificate that represents ownership of shares in a foreign company that are held in a depository bank.

G-Sec - Government Securities Government Securities are debt instruments issued by the government of a country.

IBRD - International Bank for Reconstruction and Development The International Bank for Reconstruction and Development is a multilateral development bank that provides financial assistance to developing countries.

IDRBT - Institute for Development and Research in Banking Technology The Institute for Development and Research in Banking Technology is a research institute that focuses on the development and use of technology in the banking industry.

IEPF - Investors Education and Protection Fund The Investors Education and Protection Fund is a fund established by the Securities and Exchange Board of India to provide financial assistance to investors who have suffered losses due to fraud or misrepresentation.

IFSC - Indian Financial System Code The Indian Financial System Code is a unique code assigned to each bank branch in India.

IFC - Indian Financial Corporation The Indian Financial Corporation is a development finance institution that provides financial assistance to Indian businesses.

IFCI - Industrial Finance Corporation of India The Industrial Finance Corporation of India is a development finance institution that provides financial assistance to Indian businesses.

IIBF - International Institute of Banking and Finance The International Institute of Banking and Finance is a training institute that offers courses in banking and finance.

IIBI - Industrial Investment Bank of India The Industrial Investment Bank of India is a development finance institution that provides financial assistance to Indian businesses.

IFC - International Finance Corporation The International Finance Corporation is a multilateral development bank that provides financial assistance to private sector projects in developing countries.

IFR - Investment Fluctuation Reserve Investment Fluctuation Reserve is a reserve account maintained by banks to manage fluctuations in the value of their investment portfolio.

IIP - Index of Industrial Production The Index of Industrial Production is a measure of the output of the manufacturing sector in a country.

IMF - International Monetary Fund The International Monetary Fund is a multilateral organization that promotes international monetary cooperation and provides financial assistance to countries facing economic difficulties.

IP - Interest Payment Interest Payment is the amount of money paid by a borrower to a lender for the use of borrowed money.

ISDA - International Swaps and Derivative Association The International Swaps and Derivative Association is a trade association that represents the interests of the derivatives industry.

ISO - International Standards Organisation The International Standards Organisation is an international organization that develops and publishes standards for a wide range of products and services.

KYC - Know Your Customer Know Your Customer is a set of procedures that financial institutions use to verify the identity of their customers and to assess their risk of money laundering and terrorist financing.

KVP - Kisan Vikas Patra Kisan Vikas Patra is a savings certificate issued by the government of India that offers a fixed rate of return.

KVIC - Khadi and Village Industries Corporation The Khadi and Village Industries Corporation is a statutory corporation that promotes the development of khadi and village industries in India.

LAF - Liquidity Adjustment Facility The Liquidity Adjustment Facility is a monetary policy tool used by the Reserve Bank of India to manage the liquidity in the banking system.

LAS - Loans and Advances by States Loans and Advances by States are loans provided by the central government to state governments in India.

LDB - Land Development Bank A Land Development Bank is a financial institution that provides loans to farmers for the development of their land.

LERMS - Liberalised Exchange Rate Management System The Liberalised Exchange Rate Management System is a system of exchange rate management that allows the exchange rate of a currency to fluctuate within a specified band.

M1 - Narrow Money Narrow Money is a measure of the money supply that includes currency in circulation and demand deposits.

M3 - Broad Money Broad Money is a measure of the money supply that includes narrow money plus time deposits and other liquid assets.

MA - Moving Average A Moving Average is a technical analysis tool that is used to smooth out price data and identify trends.

MCA - Ministry of Corporate Affairs The Ministry of Corporate Affairs is a ministry of the government of India that is responsible for regulating the corporate sector.

MIGA - Multilateral Investment Guarantee Agency

MIGA is an international organization that provides guarantees to investors against political risks in developing countries.

MSS - Market Stabilisation Scheme

MSS is a scheme introduced by the Reserve Bank of India to stabilize the foreign exchange market.

NABARD - National Bank for Agriculture and Rural Development

NABARD is a development bank that provides financial services to the agriculture and rural sector in India.

NBFC - Non Banking Financial Companies

NBFCs are financial institutions that provide banking services without holding a banking license.

NEC - Not Elsewhere Classified

NEC is a category used in statistics to classify data that does not fit into any other category.

NEER - Nominal Effective Exchange Rate

NEER is a measure of the value of a country’s currency relative to a basket of other currencies.

NFA - Non Foreign Exchange Assets

NFAs are assets that are not denominated in foreign currency.

NFD - Net Fiscal Deficit

NFD is the difference between the government’s total expenditure and its total revenue.

NHB - National Housing Bank

NHB is a development bank that provides financial services to the housing sector in India.

NIF - Note Issuance Facility

NIF is a facility provided by the Reserve Bank of India to banks to borrow funds by issuing notes.

NPA - Non Performing Assets

NPAs are loans that are not being repaid by the borrower.

NPV - Net Present Value

NPV is the difference between the present value of a project’s cash inflows and the present value of its cash outflows.

NSSF - National Small Savings Fund

NSSF is a fund that collects small savings from the public and invests them in government securities.

OD - Overdraft

An overdraft is a loan that allows a bank customer to withdraw more money than they have in their account.

OECD - Organisation for Economic Cooperation and Development

OECD is an international organization that promotes economic cooperation and development among its member countries.

OLTAS - Online Tax Accounting System

OLTAS is an online system that allows taxpayers to file their taxes and track their tax payments.

PACS - Primary Agricultural Credit Societies

PACS are cooperative societies that provide credit to farmers.

PD - Primary Deficit

PD is the difference between the government’s total expenditure and its total revenue, excluding interest payments.

RD - Revenue Deficit

RD is the difference between the government’s total revenue and its total expenditure.

RE - Revenue Expenditure

RE is the government’s expenditure on goods and services that are used to provide services to the public.

REER - Real Effective Exchange Rate

REER is a measure of the value of a country’s currency relative to a basket of other currencies, taking into account inflation.

RIB - Resurgent India Bonds

RIBs are bonds issued by the government of India to raise funds from overseas investors.

RLA - Recoveries of Loans and Advancements

RLA is the amount of loans and advances that are repaid to the government.

RTC - Repayment of Loans to Centre

RTC is the amount of loans that are repaid by the state governments to the central government.

RoC’s - Registrars of Companies

RoC’s are government offices that register companies and maintain records of their activities.

RR - Revenue Receipts

RR is the government’s revenue from taxes, fees, and other sources.

RRB - Regional Rural Bank

RRBs are banks that provide financial services to rural areas in India.

RTP - Reserve Tranche Position

RTP is the amount of foreign exchange reserves that a country holds with the International Monetary Fund (IMF).

RUF - Revolving Underwriting Facility

RUF is a facility provided by the Reserve Bank of India to banks to borrow funds for a short period of time.

RWA - Risk Weighted Asset

RWA is a measure of the riskiness of a bank’s assets.

SCARDB - State Co-operative Agriculture and Rural Development Bank

SCARDBs are cooperative banks that provide financial services to the agriculture and rural sector in India.

SCB - State Co-operative Bank

SCBs are cooperative banks that provide financial services to the general public in India.

SCB - Scheduled Commerical Bank

SCBs are banks that are included in the Second Schedule of the Reserve Bank of India Act, 1934.

SDDS - Special Data Dissemination Standards

SDDS is a set of standards developed by the IMF to promote the dissemination of economic and financial data.

SDR - Special Drawing Right

SDR is an international reserve asset created by the IMF.

SEBI - Securities Exchange Board of India

SEBI is a regulatory body that oversees the securities market in India.

SFC - State Financial Corporation

SFCs are financial institutions that provide financial assistance to industries in India.

SIDBI - Small Industries Development Bank of India

SIDBI is a development bank that provides financial services to small industries in India.

SIDC - State Industrial Development Corporation

SIDCs are corporations that promote industrial development in India.

SLR - Statutory Liquidity Ratio

SLR is the percentage of a bank’s deposits that must be invested in government securities.

SMG - Standing Monitoring Group

SMG is a group of officials from the Reserve Bank of India and the government of India that monitors the economy and makes recommendations on economic policy.

SNA - System of National Accounts

SNA is a framework for measuring the economic activity of a country.

TB’s - Treasury Bills

TBs are short-term government securities issued by the government of India.

TC - Temporary Change

TC is a temporary change in the level of a variable.

TT - Telegraphic Transfer

TT is a method of transferring funds electronically.

UCN - Uniform Code Number

UCN is a unique number assigned to each bank account in India.

UTI - Unit Trust of India

UTI is a mutual fund company in India.

WPI - Wholesale Price Index

WPI is a measure of the prices of goods sold at the wholesale level in India.

YTM - Yield to Maturity

YTM is the internal rate of return (IRR) of an investment, taking into account the time value of money.

Banking and Finance Terms - Related Links

Explore our collection of related links to deepen your understanding of banking and finance concepts:

• Money and Types
• Para Banking
• Types of Cheques
• Non-performing Assets
• Types of Bank Accounts

General Awareness for Bank Exams

General awareness is a crucial aspect of competitive exams, including bank exams. It encompasses a wide range of topics, including current affairs, history, geography, economics, politics, and more. Staying updated with general knowledge can give you an edge in these exams.

Reasoning Ability for Bank Exams

Reasoning ability tests your logical thinking and problem-solving skills. It includes questions on verbal reasoning, nonverbal reasoning, and analytical reasoning. These questions assess your ability to analyze information, draw conclusions, and make decisions.

Financial Awareness for Bank Exams

Financial awareness is essential for bank exams as it tests your understanding of financial concepts and terms. Topics covered include banking operations, financial markets, investments, insurance, and more. A strong grasp of financial awareness can help you make informed decisions in your personal and professional life.

FAQs on Banking Abbreviations

What does APR stand for in banking?

APR stands for Annual Percentage Rate. It represents the total cost of borrowing money over a year, including interest and fees.

What is IRA in finance?

IRA stands for Individual Retirement Account. It is a tax-advantaged investment account designed for retirement savings.

What does FDIC stand for in banking?

FDIC stands for Federal Deposit Insurance Corporation. It is a US government agency that insures deposits in banks up to a certain amount.

What is LIBOR in finance?

LIBOR stands for London Interbank Offered Rate. It is the interest rate at which banks lend money to each other in the London interbank market.

What is ACH in banking?

ACH stands for Automated Clearing House. It is an electronic network that facilitates the transfer of funds between banks and financial institutions.

What does SWIFT stand for in finance?

SWIFT stands for Society for Worldwide Interbank Financial Telecommunication. It is a global network that enables secure financial transactions between banks.

What is ETF in finance?

ETF stands for Exchange-Traded Fund. It is a type of investment fund that tracks an underlying index or asset and is traded on stock exchanges.

Remember, staying informed and expanding your knowledge in these areas can significantly improve your chances of success in bank exams and other competitive examinations.

What does CFPB stand for in banking?

The CFPB stands for the Consumer Financial Protection Bureau. It is a United States government agency responsible for consumer protection in the financial sector. The CFPB was created in 2010 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

What is NACHA in banking?

NACHA stands for the National Automated Clearing House Association. It is a US-based nonprofit organization that oversees the ACH network and establishes rules and standards for ACH transactions. The ACH network is a system that allows for the electronic transfer of funds between banks and other financial institutions.

What does IPO stand for in finance?

IPO stands for Initial Public Offering. It is the first time a company’s stock is offered to the public, allowing investors to buy shares in the company. An IPO is a significant event for a company, as it can raise capital and increase its visibility in the market.