postUpdated May 24, 2026
Key Banking Terminology and Abbreviations – Complete Banking Awareness Notes for IBPS, SBI PO and Government Exams 2026
Key Banking Terminology and Abbreviations is tested in IBPS PO, SBI Clerk, RBI Grade B, NABARD and all government banking examinations. Complete coverage with tables, memory tricks and one-liners for quick revision.
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Essential Banking Abbreviations - Quick Reference
| Abbreviation | Full Form | Key Context |
|---|---|---|
| ANBC | Adjusted Net Bank Credit | Base for PSL targets; 40% must go to priority sectors |
| AePS | Aadhaar Enabled Payment System | Biometric banking; rural financial inclusion; no card needed |
| ALCO | Asset Liability Management Committee | Internal bank committee managing interest rate and liquidity risk |
| APY | Atal Pension Yojana | Guaranteed pension for unorganized sector; age 18-40; PFRDA |
| ARCIL | Asset Reconstruction Company (India) Limited | First ARC in India; recovers NPAs; promoted by SBI, ICICI, IDBI, PNB |
| BBPS | Bharat Bill Payment System | NPCI platform for utility bill payments |
| BHIM | Bharat Interface for Money | Government UPI app; launched December 30, 2016; 20 languages |
| BPLR | Benchmark Prime Lending Rate | Pre-2010 lending benchmark; replaced by Base Rate |
| BRBNMPL | Bharatiya Reserve Bank Note Mudran Pvt. Ltd. | RBI subsidiary; prints notes at Mysuru and Salboni |
| BSBDA | Basic Savings Bank Deposit Account | Zero-balance account; replaced No-Frills Account (2012) |
| CAR | Capital Adequacy Ratio | Capital / RWA; global minimum 8%; India minimum 9% |
| CASA | Current Account Savings Account | Low-cost deposits; CASA ratio above 40% = healthy |
| CBS | Core Banking Solution | Centralized banking system connecting all branches in real time |
| CIBIL | Credit Information Bureau (India) Limited | India's oldest credit bureau; score range 300-900 |
| CIPS | Cross-Border Interbank Payment System | China's RMB international payment system; launched 2015; 1,683 participants |
| CRR | Cash Reserve Ratio | % of NDTL in cash with RBI; earns no interest |
| CTS | Cheque Truncation System | Electronic image-based cheque clearing; CTS-2010 standard |
| DBT | Direct Benefit Transfer | Government subsidies directly to beneficiary accounts |
| DEAF | Depositor Education and Awareness Fund | RBI fund from unclaimed deposits over 10 years |
| DICGC | Deposit Insurance and Credit Guarantee Corporation | RBI subsidiary; insures deposits up to Rs. 5 lakh per depositor per bank |
| DPIP | Digital Payments Intelligence Platform | RBI platform for digital payment fraud detection (2025) |
| DRI | Differential Rate of Interest | 4% flat rate for very poor; banks lend 1% of advances under DRI |
| DRT | Debt Recovery Tribunal | Specialized court for bank dues above Rs. 20 lakh; est. 1993 |
| EBR | External Benchmark Rate | Lending rate linked to Repo Rate; mandatory from October 1, 2019 |
| e₹ | Digital Rupee — India's CBDC | Legal tender digital currency by RBI; e₹-W: Nov 2022; e₹-R: Dec 2022 |
| e-RUPI | Electronic Rupee (Voucher) | Prepaid voucher via QR code or SMS; no bank account needed; launched 2021 |
| FATF | Financial Action Task Force | Global AML/CFT watchdog; Paris; grey list and black list |
| FCNR(B) | Foreign Currency Non-Resident (Bank) Account | NRI FD in foreign currency; fully repatriable; not taxable in India |
| FDIC | Federal Deposit Insurance Corporation | USA deposit insurance; USD 2,50,000 per depositor per bank |
| FEMA | Foreign Exchange Management Act | India's forex regulation; 1999; implemented by RBI |
| FSB | Financial Stability Board | Monitors global financial system; Basel, Switzerland; est. 2009 |
| FSCS | Financial Services Compensation Scheme | UK deposit insurance; GBP 85,000 per depositor |
| IBA | Indian Banks' Association | Industry body of banks; Mumbai; est. 1946; co-promotes NPCI |
| IBC | Insolvency and Bankruptcy Code | 2016; NCLT resolution within 180 days (extendable to 330) |
| IFSC | Indian Financial System Code | 11 characters; first 4=bank, 5th=0, last 6=branch |
| IMF | International Monetary Fund | 190 members; Washington D.C.; global monetary stability |
| IRDAI | Insurance Regulatory and Development Authority of India | Insurance regulator; Hyderabad |
| ISO 20022 | International Standard for financial messaging | Global payment standard; SWIFT mandatory from November 22, 2025 |
| JAM | Jan Dhan + Aadhaar + Mobile | India's financial inclusion trinity for DBT |
| KCC | Kisan Credit Card | Agricultural credit; 1998; R.V. Gupta Committee; revolving credit |
| KYC | Know Your Customer | Customer identity verification; mandatory under PMLA 2002 |
| LAF | Liquidity Adjustment Facility | RBI's daily liquidity management through repo and reverse repo |
| LCR | Liquidity Coverage Ratio | Basel III; HQLA for 30-day stress; minimum 100% |
| LRS | Liberalised Remittance Scheme | Resident Indians remit up to USD 2,50,000/year abroad without RBI approval |
| MCLR | Marginal Cost of Funds Based Lending Rate | Internal benchmark; introduced April 1, 2016 |
| MICR | Magnetic Ink Character Recognition | 9-digit code on cheques; city+bank+branch |
| MPC | Monetary Policy Committee | 6 members; sets repo rate; bi-monthly; 4% CPI ± 2% target |
| MSF | Marginal Standing Facility | Emergency overnight bank borrowing from RBI; above repo rate |
| MUDRA | Micro Units Development and Refinance Agency | Refinances micro-enterprise loans; 2015 |
| NABARD | National Bank for Agriculture and Rural Development | Apex rural credit; Mumbai; July 12, 1982; Shivaraman Committee |
| NDB | New Development Bank | BRICS bank; Shanghai; est. 2014 |
| NHB | National Housing Bank | RBI subsidiary; regulates housing finance companies; New Delhi |
| NIM | Net Interest Margin | Interest earned minus interest paid; key bank profitability metric |
| NIPL | NPCI International Payments Limited | NPCI subsidiary for global expansion of RuPay and UPI; est. August 2020 |
| NPA | Non-Performing Asset | Loan overdue 90+ days; Sub-standard → Doubtful → Loss |
| NPCI | National Payments Corporation of India | Umbrella retail payments body; Mumbai; December 2008 |
| NPS | National Pension System | Market-linked retirement savings; PFRDA; upper age 85 years (2025) |
| NRE | Non-Resident External Rupee Account | Foreign earnings; fully repatriable; not taxable in India |
| NRO | Non-Resident Ordinary Rupee Account | Indian income; USD 1M/year repatriation limit; taxable in India |
| NSFR | Net Stable Funding Ratio | Basel III; stable funding for 1 year; minimum 100% |
| OMO | Open Market Operations | RBI buy G-Secs=inject liquidity; sell G-Secs=absorb liquidity |
| PAPSS | Pan-African Payment and Settlement System | Africa's RTGS; January 2022; African Union + Afreximbank |
| PFRDA | Pension Fund Regulatory and Development Authority | Regulates NPS and APY; New Delhi |
| PLSC | Priority Sector Lending Certificates | Tradeable certificates for PSL compliance |
| PMJDY | Pradhan Mantri Jan Dhan Yojana | Financial inclusion; August 28, 2014 |
| PMLA | Prevention of Money Laundering Act | 2002; requires KYC and suspicious transaction reporting |
| PPF | Public Provident Fund | 7.1%; 15 years; EEE; max Rs. 1.5 lakh/year |
| PRAVAAH | Platform for Regulatory Application, Validation and AutHorisation | RBI's online regulatory approval portal; award 2025 |
| PSL | Priority Sector Lending | 40% of ANBC to priority sectors; mandated by RBI |
| RBI | Reserve Bank of India | Central bank; est. April 1, 1935; nationalized January 1, 1949 |
| RRB | Regional Rural Bank | Rural credit; est. October 2, 1975; Prathama Bank was first |
| RTGS | Real Time Gross Settlement | Large-value instant; minimum Rs. 2 lakh; 24x7x365 |
| RuPay | Rupee Payment | India's domestic card network by NPCI; launched May 8, 2014 |
| SARFAESI | Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act | 2002; NPA recovery without court order; 60-day notice |
| SBI | State Bank of India | Largest PSB; formed July 1, 1955 from Imperial Bank |
| SCSS | Senior Citizen Savings Scheme | 8.2%; age 60+; max Rs. 30 lakh; quarterly payout |
| SEBI | Securities and Exchange Board of India | Capital market regulator; Mumbai; est. April 12, 1992 |
| SEPA | Single Euro Payments Area | Euro payment area; 40+ countries; credit transfer and direct debit |
| SIDBI | Small Industries Development Bank of India | MSME financing; Lucknow; est. April 2, 1990 |
| SLR | Statutory Liquidity Ratio | % of NDTL in G-Secs, gold; earns interest; SLR compliance |
| SOFR | Secured Overnight Financing Rate | USD benchmark replacing LIBOR; US Treasury repo based |
| SONIA | Sterling Overnight Index Average | GBP benchmark replacing LIBOR |
| SPMCIL | Security Printing and Minting Corporation of India Limited | Govt-owned; est. January 13, 2006; 4 mints + 4 presses |
| SSA | Sukanya Samriddhi Account | 8.2%; girl child below 10 years; 21-year scheme; EEE |
| SWIFT | Society for Worldwide Interbank Financial Telecommunication | Global financial messaging; Brussels; 11,500+ institutions; 235+ countries |
| TDS | Tax Deducted at Source | Tax deducted by bank on FD interest above threshold |
| TIPS | TARGET Instant Payment Settlement | ECB instant euro payments 24x7; RBI exploring UPI-TIPS link 2025 |
| UDGAM | Unclaimed Deposits Gateway to Access inforMation | RBI portal to trace unclaimed deposits; 8.59 lakh users (July 2025) |
| UIDAI | Unique Identification Authority of India | Issues Aadhaar; statutory body under Ministry of Electronics |
| ULI | Unified Lending Interface | RBI digital credit platform for frictionless loans; 2025; 3.2M loans |
| UMI | Unified Market Interface | RBI next-gen financial market infrastructure using wholesale CBDC |
| UPI | Unified Payments Interface | NPCI instant payments; April 2016; 20 billion txns/month (Aug 2025) |
| UTR | Unique Transaction Reference | 22-character reference for each RTGS transaction |
Quick Reference - Key Numbers to Remember
| Number | What It Represents |
|---|---|
| 40% | Total PSL target for domestic banks |
| 18% | Agriculture PSL sub-target |
| 8% | Small and marginal farmers within agriculture PSL |
| 7.5% | MSME PSL sub-target |
| 12% | Weaker sections PSL sub-target |
| 9% | India's minimum CAR (global: 8%) |
| 4.5% | Minimum CET1 ratio globally |
| 2.5% | Capital Conservation Buffer |
| 100% | Minimum LCR and NSFR |
| Rs. 5 lakh | DICGC deposit insurance coverage per depositor per bank |
| Rs. 2 lakh | RTGS minimum transaction amount |
| Rs. 2 lakh | Payment Bank maximum deposit limit per customer |
| Rs. 1 lakh | Standard UPI daily transaction limit |
| Rs. 5 lakh | UPI special limit for hospitals, education, tax |
| Rs. 10,000 | PMJDY overdraft limit |
| Rs. 2 lakh | PMJDY accident insurance |
| 90 days | Overdue period for NPA classification |
| 60 days | SARFAESI notice period to borrower |
| 30 days | Time for bank to resolve ATM failed transaction before penalty |
| Rs. 100/day | Penalty for delayed ATM failed transaction reversal |
| 20 lakh + 1 lakh | Banking Ombudsman maximum award (Rs. 20L financial + Rs. 1L mental) |
| USD 2,50,000 | LRS annual remittance limit for resident Indians |
National Banking Abbreviations - India (A to Z Extended List)
| Abbrev. | Full Form | Key Context |
|---|---|---|
| ANBC | Adjusted Net Bank Credit | Base for PSL targets; 40% mandatory to priority sectors |
| AePS | Aadhaar Enabled Payment System | Biometric banking; NPCI product; no card or internet needed |
| ALM | Asset Liability Management | Bank technique to manage interest rate risk and liquidity risk |
| ALCO | Asset Liability Management Committee | Internal bank committee managing ALM; reviews asset-liability gap |
| AML | Anti-Money Laundering | Framework to prevent use of financial system for laundering proceeds of crime |
| APY | Atal Pension Yojana | Guaranteed pension for unorganized sector; age 18-40; PFRDA; launched June 1, 2015 |
| ARC | Asset Reconstruction Company | Buys NPAs from banks at discount; recovers under SARFAESI Act |
| ARCIL | Asset Reconstruction Company (India) Limited | First ARC in India; promoted by SBI, ICICI, IDBI, PNB |
| ATM | Automated Teller Machine | First ATM in India: HSBC, Mumbai, 1987; regulation by RBI |
| BBPS | Bharat Bill Payment System | NPCI platform for utility bill payments — electricity, gas, water, telecom, DTH |
| BCBS | Basel Committee on Banking Supervision | Issues Basel Norms; operates under BIS, Basel, Switzerland; established 1974 |
| BHIM | Bharat Interface for Money | Government UPI app by NPCI; launched December 30, 2016; 20 languages; *99# USSD |
| BIS | Bank for International Settlements | Bank for central banks; Basel, Switzerland; established 1930; home of BCBS |
| BPLR | Benchmark Prime Lending Rate | Pre-2010 lending benchmark; replaced by Base Rate July 1, 2010 |
| BRBNMPL | Bharatiya Reserve Bank Note Mudran Pvt. Ltd. | RBI subsidiary; currency note presses at Mysuru and Salboni; incorporated February 3, 1995 |
| BSBDA | Basic Savings Bank Deposit Account | Zero-balance account introduced 2012; replaced No-Frills Account; same as PMJDY account |
| CAD | Current Account Deficit | Imports exceed exports; financed by FDI, FPI, ECB, NRI remittances |
| CAR | Capital Adequacy Ratio | Total capital as % of RWA; global minimum 8%; India minimum 9% |
| CASA | Current Account Savings Account | Low-cost deposit base; CASA ratio above 40% indicates healthy deposit mix |
| CBS | Core Banking Solution | Centralised banking system enabling real-time transactions across all branches |
| CCIL | Clearing Corporation of India Limited | Central counterparty for G-Sec trades, forex settlements and TREPS; RBI and banks own it |
| CET1 | Common Equity Tier 1 | Highest quality capital (ordinary shares + retained earnings); Basel III minimum 4.5% |
| CFT | Counter Financing of Terrorism | Regulatory framework to prevent financial support for terrorist activities |
| CIBIL | Credit Information Bureau (India) Limited | India's oldest credit bureau; credit score range 300-900; TransUnion CIBIL |
| CIPS | Cross-Border Interbank Payment System | China's RMB payment system; launched 2015; 1,683 participants; ¥175.49 trillion (2024) |
| CRR | Cash Reserve Ratio | % of NDTL in cash with RBI; earns no interest; reduces lending capacity when raised |
| CTS | Cheque Truncation System | Electronic image-based cheque clearing; CTS-2010 standard; no physical movement of cheques |
| DBT | Direct Benefit Transfer | Government subsidies directly to bank accounts; launched January 1, 2013; Rs. 3L+ crore saved |
| DEAF | Depositor Education and Awareness Fund | RBI fund from unclaimed deposits (inactive for 10+ years); used for depositor awareness |
| DICGC | Deposit Insurance and Credit Guarantee Corporation | RBI subsidiary; insures deposits up to Rs. 5 lakh per depositor per bank; est. July 15, 1978 |
| DPIP | Digital Payments Intelligence Platform | RBI real-time fraud detection system for digital payments; announced 2025 |
| DPIIT | Department for Promotion of Industry and Internal Trade | FDI policy regulator; under Ministry of Commerce; Startup India recognition |
| DRI | Differential Rate of Interest | 4% flat lending rate for very poor; banks must lend 1% of advances under DRI scheme |
| DRT | Debt Recovery Tribunal | Specialized court for bank dues above Rs. 20 lakh; established 1993 under RDDBFI Act |
| EBR | External Benchmark Rate | Lending rate linked to Repo Rate/T-Bill yield; mandatory from October 1, 2019 for retail/MSME |
| ECB | External Commercial Borrowings | Borrowing by Indian entities from foreign sources; RBI approval may be needed |
| e₹ | Digital Rupee (India's CBDC) | RBI-issued digital legal tender; e₹-W (Nov 2022), e₹-R (Dec 2022); 17 banks, 6M+ users |
| e-RUPI | Electronic Rupee Voucher | Prepaid voucher via QR code/SMS; no bank account needed to redeem; launched August 2021 |
| EXIM Bank | Export-Import Bank of India | Export financing; established January 1, 1982; promotes India's foreign trade |
| FATF | Financial Action Task Force | AML/CFT watchdog; Paris; grey list (enhanced monitoring), black list (restricted); est. 1989 |
| FCNR(B) | Foreign Currency Non-Resident (Bank) Account | NRI FD in foreign currency; fully repatriable; no tax in India; RBI fixes rates |
| FEMA | Foreign Exchange Management Act | 1999 law governing forex in India; replaced FERA; RBI is implementing authority |
| FPI | Foreign Portfolio Investment | Short-term financial asset investment; no management control; formerly called FII |
| FDI | Foreign Direct Investment | Long-term real asset investment; management control; routes: Automatic and Government |
| FSB | Financial Stability Board | Monitors global financial system; Basel, Switzerland; established 2009 post-GFC |
| G-SIB | Globally Systemically Important Bank | FSB-designated; too-big-to-fail globally; must hold additional capital surcharge |
| IBA | Indian Banks' Association | Industry body of banks; Mumbai; established 1946; co-promotes NPCI with RBI |
| IBC | Insolvency and Bankruptcy Code | 2016; time-bound resolution at NCLT; 180 days (extendable to 330 days) |
| IFSCA | International Financial Services Centres Authority | Regulates GIFT City IFSC; under IFSCA Act 2019; unified regulator for GIFT City |
| IFSC | Indian Financial System Code | 11-character code; first 4=bank, 5th=0, last 6=branch; used in NEFT/RTGS |
| IMF | International Monetary Fund | 190 members; Washington D.C.; global monetary stability; SDR (Special Drawing Rights) |
| IRDAI | Insurance Regulatory and Development Authority of India | Insurance regulator; Hyderabad; established April 2000 |
| ISO 20022 | International Organization for Standardization - Financial Messaging Standard | Global payment message standard; SWIFT mandatory from November 22, 2025; Fedwire July 14, 2025 |
| JAM | Jan Dhan + Aadhaar + Mobile | India's financial inclusion trinity enabling DBT; unlocks direct benefit delivery |
| JLG | Joint Liability Group | 4-10 members; joint borrowing from bank; no collateral; peer pressure ensures repayment |
| KCC | Kisan Credit Card | Agricultural revolving credit; 1998; R.V. Gupta Committee; 5-year validity |
| KYC | Know Your Customer | Customer identity verification; mandatory under PMLA 2002; Aadhaar-based eKYC available |
| LAF | Liquidity Adjustment Facility | RBI's daily liquidity management; Repo (inject) and Reverse Repo (absorb) |
| LCR | Liquidity Coverage Ratio | Basel III; HQLA for 30-day stress; minimum 100% |
| LRS | Liberalised Remittance Scheme | Resident Indians remit up to USD 2,50,000/year; TCS 20% above Rs. 7 lakh |
| MCLR | Marginal Cost of Funds Based Lending Rate | Internal lending benchmark; introduced April 1, 2016; replaced Base Rate |
| MICR | Magnetic Ink Character Recognition | 9-digit code on cheques; city (3) + bank (3) + branch (3); used in CTS |
| MMID | Mobile Money Identifier | 7-digit number from bank linked to mobile number; used for IMPS transfers |
| MPC | Monetary Policy Committee | 6 members (3 RBI + 3 external); sets repo rate bi-monthly; 4% CPI ± 2% target |
| MSF | Marginal Standing Facility | Emergency overnight bank borrowing from RBI; rate above repo rate |
| MSSC | Mahila Samman Savings Certificate | 7.5%; for women and girls; max Rs. 2 lakh; 2-year tenure; limited period scheme |
| MUDRA | Micro Units Development and Refinance Agency | SIDBI subsidiary providing refinance for micro-enterprise loans; 2015 |
| NACH | National Automated Clearing House | NPCI bulk payment platform; salaries, pensions, EMIs, dividends |
| NABARD | National Bank for Agriculture and Rural Development | Apex rural credit institution; Mumbai; established July 12, 1982 |
| NDB | New Development Bank | BRICS bank; Shanghai; established 2014; infrastructure and sustainable development |
| NDTL | Net Demand and Time Liabilities | Base for CRR and SLR calculation; includes deposits minus inter-bank liabilities |
| NFS | National Financial Switch | NPCI's ATM interoperability switch; allows any-bank ATM use |
| NHB | National Housing Bank | RBI subsidiary; regulates housing finance companies (HFCs); New Delhi |
| NIM | Net Interest Margin | Interest earned minus interest paid divided by earning assets; key bank profitability ratio |
| NIPL | NPCI International Payments Limited | NPCI subsidiary for global RuPay and UPI expansion; established August 19, 2020 |
| NPA | Non-Performing Asset | Loan overdue 90+ days; Sub-standard → Doubtful (D1/D2/D3) → Loss Asset |
| NPCI | National Payments Corporation of India | Umbrella retail payment body; Mumbai; incorporated December 2008; RBI + IBA promoted |
| NPS | National Pension System | Market-linked retirement savings; PFRDA; upper age 85 years (2025 update) |
| NRE | Non-Resident External Rupee Account | Foreign earnings in INR; fully repatriable; interest not taxable in India |
| NRO | Non-Resident Ordinary Rupee Account | Indian income in INR; USD 1M/year repatriation limit; interest taxable in India |
| NSFR | Net Stable Funding Ratio | Basel III; stable funding for 1 year; minimum 100% |
| OECD | Organisation for Economic Co-operation and Development | Economic policy body; Paris; developed nations; 38 members |
| OMO | Open Market Operations | RBI buys G-Secs = injects liquidity; sells G-Secs = absorbs liquidity |
| OVI | Optically Variable Ink | Colour-shifting ink on ₹500 and ₹2000 notes; numeral changes green to blue when tilted |
| PAPSS | Pan-African Payment and Settlement System | Africa's local-currency RTGS; launched January 2022; African Union + Afreximbank (Cairo) |
| PCR | Provisioning Coverage Ratio | Provisions held against NPAs divided by gross NPA; higher PCR = better NPA coverage |
| PFRDA | Pension Fund Regulatory and Development Authority | Regulates NPS and APY; New Delhi; established 2003 |
| PLSC | Priority Sector Lending Certificate | Tradeable certificate for PSL compliance; banks buy/sell surpluses |
| PMFBY | Pradhan Mantri Fasal Bima Yojana | Crop insurance; farmer pays max 2% kharif, 1.5% rabi, 5% horticulture; launched 2016 |
| PMJDY | Pradhan Mantri Jan Dhan Yojana | Financial inclusion; launched August 28, 2014; 540M+ accounts; Rs. 2 lakh accident cover |
| PMJJBY | Pradhan Mantri Jeevan Jyoti Bima Yojana | Life insurance; Rs. 436/year; Rs. 2 lakh cover; age 18-50; launched May 9, 2015 |
| PMLA | Prevention of Money Laundering Act | 2002 law requiring KYC and suspicious transaction reporting by financial institutions |
| PMMY | Pradhan Mantri MUDRA Yojana | Micro-enterprise loans; Shishu/Kishore/Tarun/Tarun Plus; launched April 8, 2015 |
| PMSBY | Pradhan Mantri Suraksha Bima Yojana | Accident insurance; Rs. 20/year; Rs. 2 lakh cover; age 18-70; launched May 9, 2015 |
| PPF | Public Provident Fund | 7.1%; 15 years; EEE; max Rs. 1.5 lakh/year; protected from court attachment |
| PRAN | Permanent Retirement Account Number | 12-digit unique number allotted to each NPS subscriber; portable across jobs |
| PRAVAAH | Platform for Regulatory Application, Validation and AutHorisation | RBI's single-window online regulatory approval portal; launched May 28, 2024 |
| PSB | Public Sector Bank | Government-owned commercial bank; 12 PSBs currently after 2020 mergers |
| PSL | Priority Sector Lending | RBI mandate; 40% of ANBC to priority sectors; sub-targets: agri 18%, MSME 7.5% |
| RBI | Reserve Bank of India | Central bank; established April 1, 1935; nationalized January 1, 1949; Mumbai HQ |
| RIDF | Rural Infrastructure Development Fund | NABARD fund; banks contribute PSL shortfall here as penalty; finances rural infrastructure |
| ROA | Return on Assets | Net profit / Total assets; key bank profitability metric; healthy PSB ROA >1% |
| ROE | Return on Equity | Net profit / Shareholders' equity; measures return to shareholders |
| RRB | Regional Rural Bank | Rural-focused bank; established October 2, 1975 (Prathama Bank, Moradabad was first) |
| RTGS | Real Time Gross Settlement | Instant high-value payments; minimum Rs. 2 lakh; 24x7x365; charges Rs. 25-50 |
| RuPay | Rupee Payment | India's domestic card network by NPCI; launched May 8, 2014; competing with Visa/Mastercard |
| RWA | Risk-Weighted Assets | Bank assets weighted by credit risk; denominator in CAR calculation |
| SARFAESI | Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest | 2002 Act; NPA recovery without court order; 60-day notice; no agri-land |
| SBI | State Bank of India | India's largest bank; formed July 1, 1955 from Imperial Bank; D-SIB |
| SCSS | Senior Citizen Savings Scheme | 8.2%; age 60+; max Rs. 30 lakh; quarterly payout; 5 years extendable |
| SEBI | Securities and Exchange Board of India | Capital market regulator; Mumbai; established April 12, 1992 |
| SEPA | Single Euro Payments Area | Euro payment area; 40+ countries; credit transfer (1 day) and instant (seconds) |
| SFB | Small Finance Bank | For unbanked/underbanked; 75% PSL requirement; min Rs. 200 crore net worth |
| SHG | Self-Help Group | 10-20 members (mostly women); saves internally; SHG-Bank Linkage Programme by NABARD |
| SIDBI | Small Industries Development Bank of India | Apex institution for MSME financing; Lucknow; established April 2, 1990 |
| SLR | Statutory Liquidity Ratio | % of NDTL in approved liquid assets (G-Secs, gold); banks earn interest from G-Secs |
| SOFR | Secured Overnight Financing Rate | USD replacement for LIBOR; based on US Treasury repo transactions; published by NY Fed |
| SONIA | Sterling Overnight Index Average | GBP replacement for LIBOR; overnight sterling transactions; published by Bank of England |
| SPMCIL | Security Printing and Minting Corporation of India Limited | Govt-owned; established January 13, 2006; 4 mints + 4 presses + 1 paper mill |
| SRVA | Special Rupee Vostro Account | For INR-based international trade settlement; banks in partner countries hold INR accounts |
| SSA | Sukanya Samriddhi Account | 8.2%; girl child below 10 years; 21-year tenure; EEE; max Rs. 1.5 lakh/year |
| SWIFT | Society for Worldwide Interbank Financial Telecommunication | Brussels; est. 1973; 11,500+ institutions; 235+ countries; ISO 20022 mandatory Nov 2025 |
| TDS | Tax Deducted at Source | Deducted by bank on FD interest above Rs. 40,000/year (Rs. 50,000 for seniors) |
| TIPS | TARGET Instant Payment Settlement | ECB's instant euro payment system 24x7; RBI exploring UPI-TIPS bilateral link 2025 |
| TREPS | Tri-Party Repo System | Replaced CBLO (Nov 2018); collateralized; CCIL as tri-party agent; banks + NBFCs + MFs |
| UDGAM | Unclaimed Deposits Gateway to Access inforMation | RBI portal to trace unclaimed deposits across banks; launched August 18, 2023; 8.59 lakh users |
| UIDAI | Unique Identification Authority of India | Issues Aadhaar (12-digit biometric ID); statutory body; Ministry of Electronics |
| ULI | Unified Lending Interface | RBI digital credit platform; consent-based data sharing; 3.2M loans, Rs. 1.75T disbursed (Oct 2025) |
| UMI | Unified Market Interface | RBI next-gen financial market infrastructure using wholesale CBDC and tokenization |
| UPI | Unified Payments Interface | NPCI instant payments; launched April 2016; 20 billion transactions/month (Aug 2025) |
| UPI 123PAY | — | UPI for feature phones; IVR, missed call, sound-based or app modes |
| UPI Lite | — | Offline small-value UPI transactions stored on device; no internet needed per transaction |
| UTR | Unique Transaction Reference | 22-character tracking number for each RTGS transaction |
| VPA | Virtual Payment Address | UPI identifier (like mobile number@bank) used instead of account number for UPI payments |
| VRRR | Variable Rate Reverse Repo | RBI auction-based tool to absorb surplus liquidity at variable rates |
| YTM | Yield to Maturity | Total annualized return on a bond if held to maturity; includes coupon and capital gain/loss |
Key Numbers Quick-Fire Table
| Number | What It Represents |
|---|---|
| 40% | Total PSL target for domestic banks (% of ANBC) |
| 18% | Agriculture PSL sub-target |
| 8% | Within agriculture PSL — directly to small and marginal farmers |
| 7.5% | MSME PSL sub-target |
| 12% | Weaker Sections PSL sub-target |
| 9% | India's minimum Capital Adequacy Ratio (CAR); global minimum is 8% |
| 4.5% | Minimum CET1 (Common Equity Tier 1) ratio — Basel III global |
| 2.5% | Capital Conservation Buffer (Basel III) |
| 100% | Minimum LCR and NSFR (Basel III liquidity standards) |
| 3% | Minimum Leverage Ratio (global Basel III); 4% in India |
| Rs. 5 lakh | DICGC deposit insurance coverage per depositor per bank |
| Rs. 2 lakh | RTGS minimum transaction amount; also PMJDY accidental insurance |
| Rs. 1 lakh | Standard UPI daily transaction limit (P2P and P2M) |
| Rs. 5 lakh | UPI special limit (hospital, education, tax, IPO, RBI Retail Direct) |
| Rs. 10,000 | PMJDY overdraft facility limit |
| Rs. 30 lakh | Maximum SCSS deposit limit per individual |
| 90 days | Overdue period for NPA classification |
| 60 days | SARFAESI demand notice period to borrower |
| 180 days | IBC resolution period at NCLT (extendable to 330 days) |
| 20 lakh + 1 lakh | Banking Ombudsman award limit: Rs. 20L financial + Rs. 1L for mental agony |
| USD 2,50,000 | LRS annual remittance limit for resident Indians |
| USD 2,50,000 | FDIC (USA) deposit insurance limit per depositor per bank |
| GBP 85,000 | FSCS (UK) deposit insurance limit per depositor per bank |
| EUR 1,00,000 | EDIS (EU) deposit insurance limit per depositor per bank |
| 11,500+ | SWIFT member institutions globally in 235+ countries |
| 1,683 | CIPS participants (May 2025) |
| 20 billion | UPI monthly transactions in August 2025 |
| Rs. 25 trillion | UPI monthly value processed in August 2025 |
| Rs. 1,016 crore | e₹ (Digital Rupee) in circulation as of March 2025 |
| 6 million+ | e₹ retail CBDC users as of March 2025 |
| 3.2 million | ULI loans sanctioned as of October 2025 |
| Rs. 1.75 trillion | ULI total loan value disbursed as of October 2025 |
| 8.59 lakh | UDGAM portal users as of July 2025 |
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