Important Banking Related Terms Full Forms | Banking Abbreviations
Banking Related Terms Full Forms:- Banking is an institution that handles all financial transactions like cash, credit, etc. As a financial mediator, a bank accepts individual deposits and gives businesses and individuals loans.
A bank’s main source of income is the interest charge on loans provided to businesses.
In addition, it provides a secure platform to maintain additional credits and cash and offers deposit certificates, savings accounts, Current accounts, etc.
Banks use these deposits in lending, such as loans, investments, and credit cards. These loans include house mortgages, car loans, and business-related loans.
Banking contains various acronyms which are important to know. A list of top banking full forms is given below:
Important Banking Related Terms Full Forms | Banking Abbreviations
BOP – Balance of Payments
BSR – Basic Statistical Returns
BCBS – Basel Committee of Banking Supervision
BIS – Bank for International Settlements
ADB – Asian Development Bank
ATM – Automated teller Machine
CSC – Common Service Centres
CSP – Customer Service Point
DBS – Development Bank of Singapore
HDFC – Housing Development Finance Corporation
IMF – International Monetary Fund (IMF)
IMPS – Immediate Payment Service (IMPS)
IPPB – India Post Payment Bank (IPPB)
JAIIB – Junior Associate of the Indian Institute of Bankers
KYC – Know Your Customer
NABARD – National Bank for Agriculture and Rural Development
NFT – Non-Fungible Token
RBI – Reserve Bank of India
SBI – State Bank of India
TDS – Tax Deducted at Source
HSBC – Hong Kong and Shanghai Banking Corporation
ICICI – Industrial Credit and Investment Corporation of India
SIDBI – Small Industries Development Bank of India
ECS – Electronic Clearing Service (ECS)
PO – Probationary Officer
PAN – Permanent Account Number
RBL – Ratnakar Bank Limited
RTGS – Real-Time Gross Settlement
NEFT – National Electronic Funds Transfer
IFSC – Indian Financial System Code
BHIM – Bharat Interface for Money
CBS – Core Banking System
CAIIB – Certified Associate of the Indian Institute of Banking
CIF – Customer Information File
CMA – Credit Monitoring Analysis
CASA – Current Account Saving Account
CAD – Capital Account Deficit
CRR – Cash Reserve Ratio
CTS – Cheque Truncation System
DCB – Development Credit Bank
DEAF – Depositor Education and Awareness Fund
ECC – Excise Control Code
ELSS – Equity Link Saving Scheme
EMI – Equated Monthly Instalment
EFTPOS – Electric Fund Transfer at Point of Sale
EFT – Electric Fund Transfer
ECS – Electronic Clearing System
MMID – Money Mobile Identifier
NBFC – Non-Banking Financial Companies
NPCI – National Payment Corporation of India
PIN – Personal Identification Number
SIP – Systematic Investment Plan
SIPS – Systematically Important Payment System
SPNS – Shared Payment Network System
UPI – Unified Payment System