Abbreviations of Banks - 15 Mints Seminar Notes

Abbreviations of Banks - 15 Mints Seminar Notes

ADR- American Depository Receipt

       When a company issues receipt its known as ADR
       For eg. When a Indian company goes to America and raises funds from the share market it issues a receipt called as American Depository Receipt (ADR)

 

AFS- Annual Financial Statement
       This is also called as Budget (Article 112)
AIRCSC- All India Rural Credit Survey Committee
       The chairman of this committee is AD Gorwala. On his recommendation this committee started SBI

ASSOCHAM- Associated Chambers of Commerce and Industry of India
        The chairman is Vineet Agarwal. Headquarters at New Delhi
It represents the interest of trade and commerce in India
BIS- Bank for International Settlements
        It is the oldest financial institute. The head office of BIS conducts BASEL meeting where worldwide central bank governor attends the meeting

BCBS- Basel committee on Banking Supervision
        The committee that held the supervision of the banking activities it is called as Basel committee on Banking Supervision (BCBS)

BoP- Balance of Payment
        The overall balance sheet of the foreign trades are recorded here.

CAG- Comptroller and Auditor General of India
        The chairman is Girish Chandra Murmu
        It audits all receipts and expenditure of the government of India

CC- Cash Credit
        It is a short term loan, which allows the borrowers to utilize money without holding a credit balance in an account.

CII- Confederation of Indian Industry
        The chairman is TV Narendran. Headquarters at New Delhi
        It strengthens the industry role in the economic development. It is a Non-government trade association

CRAR- Capital to Risk (Weighted) Asset Ratio
        It’s also known as Capital Adequacy Ratio (CAR)
It is used to determine the minimum amount of capital that must be held by the banks

NPCI- National Payment Corporation of India
        It enables digital payment and settlement systems in India 

NBFC- Non-Banking Financial Companies

        It provides banking services like facilating loan, investment, leasing …
         For eg. Muthoot Finance

CIBIL- Credit Information Bureau India Limited

        It maintains the credit records of individual customers in the bank. It gives a credit score to the customers based on their past loan details.

IFSC- Indian Financial System Code

        It is 11 character code assigned by RBI to every bank branch uniquely.
      First 4 characters represents Bank name. Fifth character is reserved as 0 for future use. Last 6 characters represents the Branch code of the bank.

 

RTGS- Real Time Gross Settlement

       It is an electronic fund transfer system. Here a bulk amount can be transferred from one account to another account. The limit of minimum amount is 2 lakhs.

Presented by

Preethi Chouhan

Banking Student

Magme School of Banking