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

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