Banking Full Forms

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Top Banking Full forms

Abbreviations or rather say a short form of the words are now used everywhere. An abbreviation is a group of words or sentences combined to make a shorter meaningful word. Abbreviations are used in every subject and also in day-to-day life and it is necessary to know the full forms of the abbreviations that we use commonly and also in subjects like Physics, Chemistry, Biology, Mathematics, and even in the Banking and Aviation Sector. Abbreviations not only save time and energy however also a smarter way to communicate and some globally accepted abbreviations are understood by all age groups So let’s go ahead and find some commonly used abbreviations.

Some Common Used Abbreviations

– AM & PM – Anti Meridiem and Post Meridiem.
PS – PostScript
RPM – Revolutions Per Minute
AAI – Airport Authority Of India
ABS – Anti-lock braking system
ACP – Assistant Commissioner of Police
Adidas – Adolf “Adi” Dassler
AMUL – Anand Milk Union Limited
BHIM – Bharat Interface for Money
CIBIL – Credit Information Bureau (India) Limited
COVID 19 – Corona Virus Disease of 2019
DIY – Do it Yourself
ECG – Electrocardiogram

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Various abbreviations are used in the Indian Economy and banking system and are very important to know since most of the banks have now officially adopted the abbreviations however if you are preparing for competitive exams or have an interest in the banking sector you can find all the full forms used and banking in the list below. These are the most commonly asked abbreviations in examinations
ACU – Asian Currency Union
ADB – Asian Development Bank
ADR – American Depository Receipt
BFSI – Banking, Financial Service and Insurance
BOB – Bank of Baroda
CA – Charted Accountant
CAIIB – Certified Associate of Indian Institute for Bankers
CFA – Chartered Financial Analyst
CIF – Customer Information File
CMA – Credit Monitoring Analysis
CRR – Cash Reserve Ratio
CST – Central Sales Tax
CTS – Cheque Truncation System
DCB – Development Credit Bank
DLF – Delhi Land and Finance
ECC – Excise Control Code
ELSS – Equity Link Saving Scheme
EMI – Equated Monthly Installment
EPFO – Employee Provident Fund Organization
ESI – Employee State Insurance
EWS – Economically Weaker Section
FATCA – Foreign Account Tax Compliance Act
FCCB – Foreign Currency Convertible Bond
FDI – Foreign Direct Investment
FEMA – Foreign Exchange Management Act
FICCI – Federation of Indian Chambers and Commerce and Industry
FUP – Fair Usage Policy
GBP – Great Britain Pound
GDP – Gross Domestic Product
GPA – Grade Point Average
HDI – Human Development Index
HDFC – Housing Development Finance Corporation
HSBC – Hongkong and Shanghai Banking Corporation
HUDCO – Housing and Urban Development Corporation Limited
IBPS – Institute of Banking Personnel Selection
ICICI – Credit and Investment Corporation of India
ICRA – Investment Information and Credit Rating Agency
ICWA – Institute of Cost & Works Accountants of India
IDBI – Industrial Development Bank of India
IDFC – Infrastructure Development Finance Company
IFS – Indian Foreign Service
IFSC – Indian Financial System Code
IGST – Integrated Goods and Service Tax
IIFL – India Infoline Finance Limited
IL &FS – Infrastructure Leasing & Financial Services
IMF – International Monetary Fund
INR – Indian Rupee
IPO – Initial Public Offering
IRDA – Insurance Regulatory and Development Authority
IRS – Indian Revenue Service
IT – Income Tax
JAIIB – Junior Associate of the Indian Institute of Bankers
KPO – Knowledge Process Outsourcing
KYC – Know Your Customer
LIC – Life Insurance Corporation of India
LLP – Limited Liability Partnership
L&T – Larsen & Toubro
MCLR – Marginal Cost of Funds Based Lending Rate
MIS – Management Information System
MMID – Money Mobile Identifier
MRP – Maximum Retail Price
MSME – Ministry of Micro, Small and Medium Enterprise
MTS – Microsoft Transaction Server
NAAC – National Assessment and Accreditation Council
NABARD – National Bank for Agriculture and Rural Development
NBFC – Non-Banking Financial Companies
NEFT – National Electronic Funds Transfer
NGO – Non- Governmental Organization
NIFTY – National Stock Exchange Fifty
NPA – Non Performing Assets
NPCI – National Payments Corporation of India
NSE – National Stock Exchange
OTP – One Time Password
PAN – Permanent Account Number
PBX – Private Branch Exchange
PFMS – Public Financial Management System
PNB – Punjab National Bank
RBL – Ratnakar Bank Limited
RERA – Real Estate Regulatory Authority
RTGS – Real Time Gross Settlement
SBI – State Bank of India
SEBI – Securities and Exchange Board of India
SENSEX – Stock Exchange Sensitive Index
SIDBI – Small Industries Development Bank of India
SIP – Systematic Investment Plan
TAN – Tax Deduction and Collection Account Number
TDS – Tax Deducted at Source
TIN – Tax Payer Identification Number
UCO Bank – United Commercial Bank
VAT – Value Added Tax
WEF – World Economic Forum

It is good to use abbreviations but many do not know the complete form. Knowing the complete form will give you an edge above others and smarter and at the same time make you prepared for the upcoming exams where these abbreviations are most frequently asked questions.

Good luck!

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