Banking & Economic Abbreviations


ACU - Asian Clearing Union
ADR - American Depository Receipt
AEOI - Automatic Exchange of Information
AEPS - Aadhaar Enabled Payments Switch / System
AIIB – Asian Infrastructure Investment Bank
AIM - Atal Innovation Mission
AMC - Asset Management Company
AMFI - Association of Mutual Funds in India
AML - Anti-Money Laundering
AMRIT - Affordable Medicines and Reliable Implants for Treatment
AMRUT - Atal Mission for Rejuvenation and Urban Transformation
APBS - Aadhaar Payment Bridge System
APY - Atal Pension Yojana
ARC - Asset Reconstruction Companies
ASBA - Applications Supported by Blocked Amount
ASHA - Accredited social health activists
ASSOCHAM - Associated Chambers of Commerce and Industry of India
ATM - Automated Teller Machine
BBB - Banks Board Bureau
BBPS - Bharat Bill Payment System
BC - Business Correspondent
BCBS - Basel Committee on Banking Supervision
BCSBI - Banking Codes and Standards Board of India
BCTT - Banking Cash Transaction Tax
BHIM - Bharat Interface for Money
BIS - Bank for International Settlements
BOE - Bill of Exchange
BOP - Balance of Payments
BOT – Balance of Trade
BOT - Build, Operate and Transfer
BPLR - Benchmark Prime Lending Rate
BPO – Business Process Outsourcing
BRBNMPL - Bharatiya Reserve Bank Note Mudran Private Limited
BSE - Bombay Stock Exchange
CACP - Commission for Agricultural Costs and Prices
CAD - Current Account Deficit
CAG – Comptroller and Auditor General
CAGR - Compound Annual Growth Rate
CAMELS - Capital Adequacy, Asset Quality, Management, Earnings, Liquidity, Systems and Control
CAR - Capital Adequacy Ratio
CARE - Credit Analysis and Research Limited
CASA - Current and Savings Accounts
CBDT - Central Board of Direct Taxes
CBIC - Central Board of Indirect Taxes and Customs
CBLO - Collateralised Borrowing and Lending Obligation
CBS - Core Banking Solution
CCEA - Cabinet Committee on Economic Affairs
CCI - Competition Commission of India
CCIL - Clearing Corporation of India Limited
CCTNS - Crime and Criminal Tracking Network and System



CCTV - Closed-circuit television
CDR - Corporate Debt Restructuring
CDS - Credit Default Swap
CDSL – Central Depository Services Limited
CECA - Comprehensive Economic Cooperation Agreement
CENVAT - Central Value Added Tax
CEPA - Comprehensive Economic Preferential Agreement
CERSAI - Central Registry of Securitization Asset Reconstruction and Security Interest of India (Headquarters – New Delhi)
CERT-Fin- Computer Emergency Response Team for our Financial Sector
CFL - compact fluorescent lamp
CFMS - Centralised Funds Management System News
CFO - Chief Financial Officer
CGST – Central Goods and Services Tax
CIBIL - Credit Information Bureau of India Limited
CIC - Central Information Commission
CII - Confederation of Indian Industries
COMCASA - Communications Compatibility and Security Agreement
CORE - Centralized Online Real-time Exchange
CPC - Cheque Processing Centre
CPI - Consumer Price Index
CPI – IW – Consumer Price Index – Industrial Worker
CPI – UNME – Consumer Price Index – Urban Non-Manual Employee
CPI-AL - Consumer Price Index - Agricultural Labourers
CPI-RL - Consumer Price Index - Rural Labourers
CRAR - Capital to Risk (Weighted) Asset Ratio
CRISIL - Credit Rating Information Services of India Limited
CRR - Cash Reserve Ratio
CSIR - Council of Scientific and Industrial Research
CSO - Central Statistics Office
CSR – Corporate social responsibility
CTS - Cheque Truncation System
CVC – Card Verification Code
CVC - Central Vigilance Commission
CVV - Card Verification Value
CWC - Central Water Commission
DARPAN - Digital Advancement of Rural Post Office for a New India
DBTL - Direct Benefit Transfer of LPG - PAHAL
DDUGJY - Deen Dayal Upadhyaya Gram Jyoti Yojana
DICGC - Deposit Insurance and Credit Guarantee Corporation
DII - Domestic Institutional Investors
DP - Depository Participant
DRI - Differential Rate of Interest
D-SIB - Domestic Systemically Important Banks
DTAA - Double Taxation Avoidance Agreement
DTC - Direct Taxes code
ECB - External Commercial Borrowings
ECGC - Export Credit Guarantee Corporation
ECS - Electronic Clearing System
EEFC - Exchange Earners’ Foreign Currency
EFTPOS - Electronic Funds Transfer At Point Of Sale



ELSS - Equity Linked Saving Scheme
EMI - Equated Monthly Installments
EMV - Europay, Mastercard and Visa
EPCG - Export Promotion Capital Goods
EPF - Employees Provident Fund
EPFO - Employees’ Provident Fund Organisation
ESOP - Employee Stock Options
ETF - Exchange Traded Fund
EU – European Union
EVA - Electronic Virtual Assistant
EXIM Bank - Export Import Bank
FATF - Financial Action Task Force
FBT - Fringe Benefit Tax
FCCB - Foreign Currency Convertible Bond
FCEB - Foreign Currency Exchangeable Bonds
FCNR - Foreign Currency Non-Resident Accounts
FDI - Foreign Direct Investment
FEDAI - Foreign Exchange Dealers’ Association of India
FEMA - Foreign Exchange Management Act 1999
FERA - Foreign Exchange Regulation Act - 1973
FICCI - Federation of Indian Chambers of Commerce and Industry
FIEO - Federation of Indian Export Organisation
FII - Foreign Institutional Investor
FIMMDA - Fixed Income Money Markets and Derivatives Association
FINO - Financial Information Network and Operation
FIPB - Foreign Investment Promotion Board
FMC - Forward Markets Commission
FMCG - Fast Moving Consumer Goods
FPI - Foreign Portfolio Investment
FPO – Follow on Public Offer
FRBM - Fiscal Responsibility and Budget Management – 2003
FSB - Financial Stability Board
FSDC - Financial Stability and Development Council 
FSLRC - Financial Sector Legislative Reforms Commission
FTA - Free Trade Agreement
GAAR - General Anti Avoidance Rules
GATT – General Agreement for Trade and Tariff
GDR - Global Depository Receipt
GIFT - Gujarat International Finance Tec-City
GOBAR-DHAN - Galvanizing Organic Bio-Agro Resources Dhan
GPI - Global payments innovation
GST - Goods and Services Tax
GSTN - Goods and Service Tax Network
GVA - Gross Value Added
HDFC - Housing Development Finance Corporation
HDI - Human Development Index
HECI - Higher Education Commission of India
HRIDAY - National Heritage City Development and Augmentation Yojana
HUDCO - Housing & Urban Development Corporation
IBA - Indian Banks’ Association



IBBI - Insolvency and Bankruptcy Board of India
IBPS - Institute of Banking Personnel Selection
ICA – Inter Creditor Agreement
ICICI - Industrial Credit and Investment Corporation of India
ICRA - Investment Information and Credit Rating Agency
IDBI - Industrial Development Bank of India
IDFC - Infrastructure Development Finance Company
IDR - Indian Depository Receipts
IFC – International Finance Corporation
IFRS - International Financial Reporting Standards 
IFSC - Indian Financial System Code
IFSC - international financial services centre
IGST –  Integrated Goods and Services Tax
IL&FS - Infrastructure Leasing & Financial Services Limited
IMF - International Monetary Fund
IMPS - Immediate Payment Service
IMT - Instant Money Transfer
INFINET - Indian Financial Network
InvIT - Infrastructure Investment Trust
IoT- Internet of Things
IPCC - Inter-Governmental Panel on Climate Change
IPO - Initial Public Offer
IPPB - India Post Payments Bank
IRBI - Industrial Reconstruction Bank of India
IRDAI - Insurance Regulatory and Development Authority of India
IRFC- Indian Railway Finance Corporation Limited
ISO - International Organisation for Standardisation
JAM - Jan Dhan accounts, Mobile
JLB - Joint Liability Group
KCC - Kisan Credit Card
KUSUM - Kisan Urja Suraksha evam Utthan Mahabhiyan
KVP - Kisan Vikas Patra
KYC - Know Your Customer
LAF - Liquidity Adjustment Facility
LED - light-emitting diode
LEI - Legal Entity Identifier
LIBOR - London Inter Bank Offer Rate
LoC – Line of credit
LRS - Liberalised Remittance Scheme
MAT - Minimum Alternate Tax
MCC - Multi-City Cheque
MCLR - Marginal Cost of Fund Based Lending Rate
MCX - Multi Commodity Exchange
MDR - Merchant Discount Rate
MF - Mutual Fund
MFI - Micro Finance Institution
MGNREGA - Mahatma Gandhi National Rural Employment Guarantee Act
MIBOR - Mumbai Inter Bank Offer Rate
MICR - Magnetic Ink Character Recognition
MIGA - Multilateral Investment Guarantee Agency



MMID - Mobile Money Identifier
MODVAT - Modified Value Added Tax
MoU - memorandum of understanding
MPC - Monetary Policy Committee
MRTP - Monopolies and Restrictive Trade Practices act – 1969
MSEI - Metropolitan Stock Exchange of India
MSF - Marginal Standing Facility
MSME - Micro, Small and Medium Enterprises act 2006
MSP - Minimum Support Price
MSS - Market Stabilization Scheme
MTSS -  Money Transfer Service Scheme
MUDRA - Micro Units Development and Refinance Agency
NABARD - National Bank for Agricultural and Rural Development
NABH Nirman - NextGen Airports for Bharat
NACH - National Automated Clearing House
NAM – Non Aligned movement
NASSCOM - National Association of Software and Services Companies
NAV - Net Asset Value
NBFC - Non Banking Finance Companies
NCDEX - National Commodity and Derivatives Exchange
NCLT - National Company Law Tribunal
NDB – New Development Bank
NDTL - Net Demand and Time Liability
NEER - Nominal Effective Exchange Rate
NEFT - National Electronic Funds Transfer System
NFC - Near field communication
NFRA - National Financial Reporting Authority
NHB - National Housing Bank
NIC - National Informatics Centre
NIMHR - National Institute of Mental Health Rehabilitation
NITI - National Institution for Transforming India
NMCE - National Multi-Commodity Exchange
NOFHC - Non-Operative Financial Holding Company
NPA - Non Performing Assets
NPCI - National Payments Corporation of India
NPS – National Pension System
NRDWP - National Rural Drinking Water Programme
NRE - Non Resident External Account
NRHM - National Rural Health Mission
NRLM - National Rural Livelihoods Mission
NRTI - National Rail and Transportation Institute 
NSDF - National Skill Development Fund
NSDL – National Securities Depository Limited
NSE - National Stock Exchange
NSFR - Net Stable Funding Ratio
NSSF - National Social Security Fund
NSSO - National Sample Survey Organisation
NTA- National Testing Agency
NUHM - National Urban Health Mission
NULM - National Urban Livelihoods Mission



OMO - Open Market Operation
OROP - One Rank, one Pension
OTCEI - Over the Counter Exchange of India
OTP - One-Time Password
P - Notes - Participatory Notes
P - Notes - Promissory Note
PAHAL - Pratyaksh Hanstantrit Labh
PAN - Permanent Account Number
PCA - Prompt Corrective Action
PCR - Provisioning Coverage Ratio
PDC - Post-Dated Cheque
PDMC - Public Debt Management Cell
PFMS - Public Financial Management System
PFRDA - Pension Fund Regulatory and Development Authority
PIN - Personal Identification Number
PLR - Prime Lending Rate
PM-AASHA - Pradhan Mantri Annadata Aay SanraksHan Abhiyan
PMAY - Pradhan Mantri Awas Yojana
PMFBY - Pradhan Mantri Fasal Bima Yojana
PMGSY - Pradhan Mantri Gram Sadak Yojana
PMJAY- Pradhan Mantri Jan Arogya Yojana
PMJDY - Pradhan Mantri Jan Dhan Yojana
PMJJBY - Pradhan Mantri Jeevan Jyoti Bima Yojana
PMKK- Pradhan Mantri Kaushal Kendras
PMKKKY - Pradhan Mantri Khanij Kshetra Kalyan Yojana
PMKSY - Prime Minister Krishi Sinchayee Yojana
PMKVY - Pradhan Mantri Kaushal Vikas Yojana
PMSBY - Pradhan Mantri Suraksha Bima Yojana
PMSMA - Pradhan Mantri Surakshit Matritva Abhiyan
PMUY - Pradhan Mantri Ujjwala Yojana
PoA - Power of Attorney
PoS - Point of Sale
PPF - Public Provident Fund
PPI - Prepaid Payment Instruments
PPP – Public Private Partnership / Purchasing Power Parity
PRAGATI - Pro-Active Governance and Timely Implementation
PRANAM - Parent Responsibility & Norms for Accountability and Monitoring
PSL - Priority Sector Lending
QFI - Qualified Foreign Investor
QIB - Qualified Institutional Buyer
QIP - Qualified Institutional Placement
REC - Rural Electrification Corporation
REER - Real Effective Exchange Rate
REINVEST - Renewable Energy Investment Meeting
REIT - Real Estate Investment Trust
Repo - Repurchase Option / Obligation
RFID - Radio-frequency Identification
RGESS - Rajiv Gandhi Equity Savings Scheme
RIDF - Rural Infrastructure Development Fund
RISE - Revitalising Infrastructure and Systems in Education



RRB - Regional Rural Banks
RTGS - Real Time Gross Settlement System
RUSA - Rashtriya Uchchatar Shiksha Abhiyan
RWA - Risk-weighted Asset
S&P - Standard & Poor's
S4A - Scheme for Sustainable Structuring of Stressed Assets
SAFAR - System of Air Quality and Weather Forecasting
SAGY - Sansad Adarsh Gram Yojana
SANKALP- Skill Acquisition & Knowledge Awareness for Livelihood Promotion programme
SARFAESI - Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act – 2002
SATH-I - Sustainable Action for Transforming Human Capital in Education
SATYAM - Science and Technology of Yoga and Meditation
SAWEN - South Asia Wildlife Enforcement Network
SDR - Special Drawing Rights
SDR - Strategic Debt Restructuring
SEBI - Securities and Exchange Board of India
SETU - Self-Employment and Talent Utilization
SEZ - Special Economic Zone act – 2005
SFIO - Serious Fraud Investigation Office
SGST – State Goods and Services Tax
SHG – Self Help Group
SIDBI - Small Industries and Development Bank of India.
SIP - Systematic Investment Plans
SIT - Special Investigation Team
SLR - Statutory liquidity ratio
SMERA - Small and Medium Enterprises Rating Agency
SPV - Special Purpose Vehicle
SSY - Sukanya Samriddhi Yojana
STRIVE - Skill Strengthening for Industrial Value Enhancement
SWAYAM - Study Webs of Active Learning for Young Aspiring Minds
SWIFT - Society for World Wide Inter Bank Financial Telecommunication.
TARC - Tax Administration Reform Commission
TCS - Tax Collected at Source
TDS - Tax Deducted at Source
TIEA – Tax Information exchange Agreement
TIES- Trade Infrastructure for Export Scheme
TIN - Tax Information Network
TPDS - Targeted Public Distribution System
TRAI - Telecom Regulatory Authority of India
TRIMS - Trade Related Investment Measures
TRIPS - Trade Related Intellectual Property Rights
UDAN - Ude Desh Ka Aam Nagrik
UDAY - Ujwal DISCOM Assurance Yojana
UGC - University Grants Commission
UIDAI - Unique Identification Authority of India
UJALA - Unnat Jyoti by Affordable LEDs for All
ULIP - Unit Linked Insurance Plan
UPI - Unified Payments Interface
UPIN - Unique Property Identification Numbers
USB - Ultra Small Branch
USSD - Unstructured Supplementary Service Data
UTI - Unit Trust of India
VPA - Virtual Payment Address
VVPAT - Voter verifiable paper audit trail
WIPO - World Intellectual Property Organization
WL - ATM - White Label ATM
WLTFB  - Wholesale and Long-term Finance Bank
WMA - Ways and Means Advances
WPI - Wholesale Price Index
WTO – World Trade Organization
YONO - You Need Only One (SBI mobile App)


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