LAB ----------------------- Local Area Bank

LC ----------------------- Letter of Credit

LOC ----------------------- Letter Of Comfort
Dont confuse between LC and LOC
M-Banking ----------------------- MObile Banking
NABARD ----------------------- National Bank for Agriculture and Rural Development
NBFC ----------------------- Non-Banking Finance Company
NDS ----------------------- Negotiated Dealings System
NDTL ----------------------- Net Demand and Time Liabilities
NEFT ----------------------- National Electronic Fund Transfer
NHB ----------------------- National Housing Bank
NI Act ----------------------- Negotiable Instrument Act
NPA ----------------------- Non-Performing Assets
NRE a/c ----------------------- Non-Resident External Account
NRI ----------------------- Non-Resident Indian
NWC ----------------------- Networking Capital
OBU ----------------------- Off-Shore Banking Units
PAN ----------------------- Permanent Account Number
PLR ----------------------- Prime Lending Rate
PMEGP ----------------------- Prime Minister's Employment Generation Programme
PMRY ----------------------- Prime Minister's Rozgar Yojana
PSA ----------------------- Priority Sector Advances
QIB ----------------------- Qualified Institutional Buyers
REPO ----------------------- Re-Purchase Option
RIDF ----------------------- Rural Infrastructure Development Fund
RTGS ----------------------- Real Time Gross Settlement
RTI Act ----------------------- Right To Information Act
SARFAESI Act ----------------------- Securitization and Reconstruction of Financial Assets and Enforcement of
Security Interest

SCB ----------------------- Scheduled Commercial Banks

SEBI ----------------------- Securities Commercial Banks
SGL ----------------------- Subsidary General Ledger
SHG ----------------------- Self Help Groups
SIDBI ----------------------- Small Industries Development Bank of India
SLR ----------------------- Statutory Liquidity Ratio
SME ----------------------- Small and Medium Enterprises
SWIFT ----------------------- Society for World wide Inter Bank Fund Transfer
TDS ----------------------- Tax Deducted at Source
UCPDC - 600 ----------------------- Uniform Customers and Practices on Documentary Credits
YTM ----------------------- Yield To Maturity
Banking Abbreviations
Posted: 26 Apr 2012 01:38 AM PDT
Here are some Abbreviations which are useful for Banking Exams.
ADB ----------------------- Asian Development Bank
ADR ----------------------- American Deposit Reciepts
AML ----------------------- Anti Money Laundering
ANBC ----------------------- Adjusted Net Bank Credit
ATM ----------------------- Automated Teller Machine
BCSBI ----------------------- Banking Codes and Standards Board of India
BPLR ----------------------- Bench Mark Prime Lending Rate
CAR ----------------------- Capital Adequacy Ratio
CBLO ----------------------- Collatarised Borrowing and Lending Obligations
CBS ----------------------- Core Banking Solutions (Centralized Banking Solutions)
CD ----------------------- Certificate of Deposit
CD Ratio ----------------------- Credit Deposit Ratio
CDR ----------------------- Corporate Debt Restructuring
CIBIL ----------------------- Credit Information Bureau of India Limited

CCIL ----------------------- Clearing Corporation of India Limited

COPRA ----------------------- Consumer Protection Act
CP ----------------------- Commercial Paper
CRAR ----------------------- Capital to Risk Weighed Assets Ratio
CRR ----------------------- Cash Reserve Ratio
DGFT ----------------------- Director General of Foreign Trade
DICGC ----------------------- Deposit Insurance and Credit Guarantee Corporation
DRI ----------------------- Differential Rate of Interest
DRT ----------------------- Debt Recovery Tribunal
DSCR ----------------------- Debt Service Coverage Service
ECGC ----------------------- Exports Credit Guarantee Corporation
ECS ----------------------- Electronic Clearing Service
EEFC ----------------------- Exchange Earner's Foreign Currency Account
EFT ----------------------- Electronic Fund Transfer
EPF ----------------------- Employee Provident Fund
EXIM Bank ----------------------- Exports and Imports Bank of India
FCNR ----------------------- Foreign Currency Non-Resident Account
FEMA ----------------------- Foreign Exchange Management Act
GCC ----------------------- General Credit Card
GDR ----------------------- Global Depository Receipts
IBA ----------------------- Indian Banks Association
IDRBT ----------------------- Institute for Development and Research in Banking Technology
IMF ----------------------- International Monetary Fund
IRAC Norms ----------------------- Income Recognition and Assets Classification Norms
KCC ----------------------- Kisan Credit Card
KYC ----------------------- Know Your Customer
Read More >>

NABARD
Posted: 25 Apr 2012 08:42 PM PDT
Here are some useful details about National Bank for Agriculture and Rural Development (NABARD) :
Established on 12th July 1982 on the recommendation of CRAFICARD committee (also called as Sivaraman
Comittee)
CRAFICARD - Committee for review of arrangements for institutional credit for agriculture and rural development.
For Agricultural finance, NABARD is the apex organization, Chairman : U.C.Sarangi.
It assists Cooperative Banks, RRBs, Land Development Banks & Scheduled Commercial banks in lending to
farmers, rural artisans and other non-farmers in rural areas and to the State Governments for minor irrigation.
Land Development Banks are now called State Co-op. Agricultureal and Rural Development Banks.
NABARD grants short-term loans for 18 months for seasonal agricultural operations. It only refinances.
It meets the credit needs of farmers, rural artisans through the above organizations for financing minor irrigation,
SHGs, SGSRY, Wasterland Development, Horticulture, Land Development, Farm Mechanization, Animal
Husbandry, Fisheries etc. at 6.75% Interest.
NABARD manages Financial Inclusion Fund.
Rural Infrastructure Development Fund (RIDF) is operated by NABARD, instead in April 1995.
NABARD is the "Micro-Finance Regulatory Authority"
Water Shed Development Fund was instituted with NABARD.
2009-10 budget allotted Rs. 14,00 Cr. under RIDF XV tranch + Rs. 4000 Cr. to Rural roads.
RBI has 72.5% share in NABARD.
2010-11 Budget allots Rs. 400 Cr. for Micro - Finance Eqity Fund.
Government of India is planning to take NABARD and National Housing Bank for Rs. 1,900 Cr.