Banking Abbreviations are a greatly common topic in banking recruitment exams. This can be understood by the number of question that are asked from this topic in each and every banking exam, on an average atleast two questions feature from this list. The questions can be asked in any of the related sections on either banking or marketing or computers. Such an important topic is often neglected by new aspirants who put majority of their effort in building up other tricky sections of the exam. But to be confident in these exams, one has to go through nuances like this as well.
These questions may look random and hard to answer but in reality these can be dealt with ease if a proper strategy is followed. the pessimists would argue that there are far too many abbreviations than time available. But one has to take a balanced look at the situation here. These banking abbreviations are commonly seen in day to day affairs if you pay enough attention. You just have to concentrate on these and take a deep interest in these to master them. Yes I agree that there is a huge number of abbreviations. However, there are some basic abbreviations which have more recurrance than others as can be seen by looking at previous years papers.
If you are worried about – How to remember this big list of abbreviations? Allow me to tell you the golden rule for suucess in any exam – It is to Practice a lot. Practice means, writing down the difficult and important ones on separate flash cards and keep them handy. Keep looking at them whenver you get time to do so, within a week you will confident about this list. Furthermore, you can test your memory by writing the abbreviiations on paper and you will be able to check your recalling power. This practice is equally applicable for everything under the sun that you might want yourself to remeber for a long time.
We at exampariksha are providing you with a list of common abbreviations below which as asked in banking exams and interviews often. For a candidate with good grasp of these abbreviations , any stage of the exam will not be startling. as it is assured by many teachers and coaches that atleast a few questions will be asked from this topic in every exams related to the banking sector.
- FEDAI- Foreign Exchange Dealers Association of India
- ALCO- Asset Liability Committee
- ALM- Asset Liability Management
- KVIC- Khadi and Village Industries Corporation
- KYC- Know Your Customer
- EXIM bank- Export and Import Bank of India
- NABARD- National Bank for Agriculture and Rural Development
- SIDBI- Small Industries Development Bank of India
- EDP- Entrepreneurship Development Programme
- LAMPS- Large Sized Adivasi Multipurpose Societies
- LERMS- Liberalized Exchange Rate Management System
- NABARD- National Bank for Agriculture and Rural Development
- NBFC- Non Banking Finance Companies
- QIB- Qualified Institutional Bankers
- RBI- Reserve Bank of India
- RDBMS- Relational Database Management System
- REC- Rural Electrification Corporation
- RFC- Resident Foreign Currency
- RIDF- Rural Infrastructure Development Fund
- RRB- Regional Rural Bank
- RTGS- Real Time Gross Settlement
- RWA- Risk Weighted Assets
- SBI- State Bank of India
- SCB- Scheduled Commercial Bank
- NRE- Non Resident External Account
- NRI- Non Resident Indian
- SDR- Special Drawing Rights
- YTM-Yield to Maturity
- LAB- Local Area Banks
- ALM- Asset Liability Management
- ANBC- Adjusted Net Bank Credit
- ASBA- Applications Supported Bank Accounts
- DPG- Deferred Payment Guarantee
- DRI- Differential Rate Of Interest
- DSCR- Debt Service Coverage Ratio
- FEDAI- Foreign Exchange Dealers Association Of India
- FOB- Free On Board
- NPV- Net Present Value
- DPN- Demand Promissory Note
- DRAT- Debt Recovery Appellate Tribunal
- OCB- Overseas Corporate Bodies
- POA- Power of Attorney
- OLTAS- Online Tax Accounting System
- OMO- Open Market Operations
- PACS- Primary Agricultural Credit Societies
- LIC- Life Insurance Corporation of India
- IEPF- Investors Education and Protection Fund
- IRDA- Insurance Regulatory and Development Authority
- CCIL- Clearing Corporation of India Limited
- OTCEI- Over the Counter Exchange Of India
- ISCI- International Standard Industrial Classification
- KCC- Kisan Credit Card
- BCSBI- Banking Codes and Standards Board of India
- SEBI- Securities and Exchange Board of India
- SFMS- Structured Financial Messaging Services
- SHG- Self Help Group
- CAR- Capital Adequacy Ratio
- SEBI- Securities and Exchange Board of India
- MICR- Magnetic Ink Character Recognition
- NSE- National Stock Exchange
- FCNR- Foreign Currency Non Resident Deposit Accounts
- CDRS- Corporate Debt Restructuring
- IDRBT- Institute for Development and Research Of Banking Technology
- YTM- Yield To Maturity
- MCA- Ministry Of Company Affairs
- MIS- Management Information System
- CRISIL- Credit Rating Information Services Of India
- ICRA- Investment Information and Credit Rating Agency of India Limited
- CARE- Credit Analysis and Research Limited
- IRDA- Insurance Regulatory and Development Authority of India
- CASA- Current and Savings Accounts
- CBLO- Collateralized Bank Lending Obligations
- CIBIL- Credit Information Bureau of India Limited
- CRR- Cash Reserve Ratio
- KYC- Know Your Customer Guidelines
- IPO- Initial Public Offer
- SLR- Statutory Liquidity Ratio
- SLRS- Scheme for Liberation and Rehabilitation of Scavengers
- EMI- Equated Monthly Instalments
- SSI- Small Scale Industries
- SME- Small and Medium Industries
- UTI- Unit Trust of India
- WPI- Wholesale Price Index
- EDI- Electronic Data Interchange
- EPS- Earning per Share
- ESOP- Employee Stock Options
- PDO- Public Debt Office
- PIN- Personal Identification Number
- NBFC- Non Banking Finance Companies
- NEFT- National Electronic Fund Transfer
- RTGS- Real Time Gross Settlement
- NPA- Non Performing Assets
- QIB- Qualified Institutional Buyers
- BOE- Bill of Exchange
- SMERA- SME Rating Agency of India Limited
- SLR- Statutory Reserve Ratio
- SIDBI- Small Industries Development Bank of India
- SIDC- State Industrial Development Corporation
- SJSRY- Swarna Jayanthi Shahari Rozgar Yojana
- SSSBE- Small Scale Service and Business Enterprises
We hope this material for banking abbreviations is helpful for answering questions on Banking Awareness for IBPS/RRB/SBI/PO and all other competitive Exams.
