| LIST OF ABBREVIATIONS |
| AA |
Account Aggregator |
| ACU |
Asian Clearing Union |
| AD |
Authorised Dealer |
| ADF |
Automated Data Flow |
| ADR |
American Depository Receipts |
| AIFIs |
All-India Financial Institutions |
| AMRMS |
Audit Management and Risk Monitoring System |
| ANBC |
Adjusted Net Bank Credit |
| AQR |
Asset Quality Review |
| ARCs |
Asset Reconstruction Companies |
| ARMS |
Audit and Risk Management Sub-Committee |
| ATBs |
Auction Treasury Bills |
| ATMs |
Automated Teller Machines |
| B2B |
Business-to-Business |
| B2C |
Business-to-Consumer |
| BAs |
Business Areas |
| BBB |
Banks Board Bureau |
| BBPCU |
Bharat Bill Payment Central Unit |
| BBPOU |
Bharat Bill Payment Operating Unit |
| BBPS |
Bharat Bill Payment System |
| BC |
Business Correspondent |
| BCBS |
Basel Committee on Banking Supervision |
| BCM |
Business Continuity Management |
| BCP |
Business Continuity Plans |
| BCSBI |
Banking Codes and Standards Board of India |
| BE |
Budget Estimates |
| BFS |
Board for Financial Supervision |
| BIA |
Business Impact Analysis |
| BIS |
Bank for International Settlements |
| BO |
Banking Ombudsman |
| BoJ |
Bank of Japan |
| BoP |
Balance of Payment |
| BPO |
Business Process Outsourcing |
| BPR |
Business Process Reengineering |
| bps |
Basis Points |
| BPSS |
Board for Payment and Settlement System |
| BRBNMPL |
Bharatiya Reserve Bank Note Mudran Private Limited |
| BRICS |
Brazil, Russia, India, China and South Africa |
| BSBDA |
Basic Savings Bank Deposit Account |
| BSC |
Building Sub-Committee |
| CAB |
College of Agricultural Banking |
| CAD |
Current Account Deficit |
| CAFRAL |
Centre for Advanced Financial Research and Learning |
| CAP |
Corrective Action Plan |
| CBLO |
Collateralised Borrowing and Lending Obligation |
| CBRMC |
Central Bank Risk Managers’ Conference |
| CBs |
Central Banks |
| CBS |
Core Banking Solution |
| CCB |
Committee of the Central Board |
| CCC |
Cash Coordination Committee |
| CCIL |
Clearing Corporation of India Limited |
| CCP |
Central Counter Party |
| CCR |
Counterparty Credit Risk |
| CCSO |
Chief Customer Service Officer |
| CCTV |
Closed Circuit Television |
| CD |
Certificate of Deposit |
| CDES |
Currency Distribution & Exchange Scheme |
| CDS |
Credit Default Swaps |
| CEPD |
Consumer Education and Protection Department |
| CERT-In |
Indian Computer Emergency Response Team |
| CGFS |
Committee on the Global Financial System |
| CGM |
Chief General Manager |
| CGTMSE |
Credit Guarantee Trust for Micro and Small Enterprises |
| CIC |
Currency in Circulation |
| CKYCR |
Central Know Your Customer Registry |
| CLSS |
Credit Linked Subsidy Scheme |
| CMA |
Currency Management Architecture |
| CODs |
Central Office Departments |
| CoR |
Certificate of Registration |
| CPC |
Central Pay Commission |
| CPC |
Cheque Processing Centre |
| CPI |
Consumer Price Index |
| CPI-AL |
Consumer Price Index-Agricultural Labourers |
| CPI-C |
Consumer Price Index-Combined |
| CPI-IW |
Consumer Price Index-Industrial Workers |
| CPI-RL |
Consumer Price Index-Rural Labourers |
| CPMI |
Committee on Payments and Market Infrastructure |
| CPs |
Commercial Papers |
| CRA |
Contingent Reserve Arrangement |
| CRILC |
Central Repository of Information on Large Credits |
| CRR |
Cash Reserve Ratio |
| CSBD |
Corporate Strategy and Budget Management |
| CSF |
Consolidated Sinking Fund |
| CSO |
Central Statistics Office |
| CTS |
Cheque Truncation System |
| DBR |
Department of Banking Regulation |
| DBS |
Department of Banking Supervision |
| DCBR |
Department of Co-operative Bank Regulation |
| DCBS |
Department of Co-operative Bank Supervision |
| DCCBs |
District Central Co-operative Banks |
| DCS |
Department of Corporate Services |
| DEIO |
Department of External Investments and Operations |
| DEPR |
Department of Economic and Policy Research |
| DGBA |
Department of Government and Bank Accounts |
| DICGC |
Deposit Insurance and Credit Guarantee Corporation |
| DIF |
Deposit Insurance Fund |
| DISCOM |
Distribution Company |
| DIT |
Department of Information Technology |
| DNBS |
Department of Non-Banking Supervision |
| DP |
Discussion Paper |
| DPSS |
Department of Payment and Settlement Systems |
| DRATs |
Debt Recovery Appellate Tribunals |
| DRG |
Development Research Group |
| DRTs |
Debt Recovery Tribunals |
| DSIM |
Department of Statistics and Information Management |
| e-baat |
Electronic Banking Awareness and Training |
| ECB |
European Central Bank |
| ECBs |
External Commercial Borrowings |
| ECL |
Expected Credit Loss |
| ECS |
Electronic Clearing Service |
| EDMS |
Electronic Document Management System |
| EDPMS |
Export Data Processing and Monitoring System |
| EEFC |
Exchange Earners’ Foreign Currency |
| EMEs |
Emerging Market Economies |
| EMV |
Europay, Mastercard and Visa |
| ERM |
Enterprise-wide Risk Management |
| ESOP |
Employee Stock Option |
| ETCD |
Exchange Traded Currency Derivatives |
| EV |
Enterprise Vault |
| EWS |
Early Warning System |
| EXIM Bank |
Export Import Bank of India |
| FBIL |
Financial Benchmark India Private Limited |
| FCA |
Foreign Currency Assets |
| FCCB |
Foreign Currency Convertible Bond |
| FC-GPR |
Foreign Currency Gross Provisional Return |
| FCNR(B) |
Foreign Currency Non-Resident (Bank) Account |
| FCs |
Financial Conglomerates |
| FC-TRS |
Foreign Currency Transfer of Shares |
| FCY |
Foreign Currency |
| FCY-INR |
Foreign Currency-Indian Rupee |
| FDI |
Foreign Direct Investment |
| FED |
Foreign Exchange Department |
| FEMA |
Foreign Exchange Management Act |
| FER |
Foreign Exchange Reserves |
| FETERS |
Foreign Exchange Transactions Electronic Reporting System |
| FFMC |
Full Fledged Money Changers |
| FIAC |
Financial Inclusion Advisory Committee |
| FIDD |
Financial Inclusion Development Department |
| FIF |
Financial Inclusion Fund |
| FII |
Foreign Institutional Investor |
| FIMMDA |
Fixed Income Money Market and Derivatives Association of India |
| FinTech |
Financial Technology |
| FIP |
Financial Inclusion Plan |
| FIRM |
Food Inflation Research and Measurement |
| FIT |
Flexible Inflation Targeting |
| FITF |
Financial Inclusion Technology Fund |
| FLCs |
Financial Literacy Centers |
| FMIs |
Financial Market Infrastructures |
| FMOD |
Financial Markets Operations Department |
| FMRD |
Financial Markets Regulation Department |
| FOMC |
Federal Open Market Committee |
| FPI |
Foreign Portfolio Investment |
| FSAP |
Financial Sector Assessment Programme |
| FSB |
Financial Stability Board |
| FSDC |
Financial Stability and Development Council |
| FSDC-SC |
Financial Stability and Development Council Sub committee |
| FSR |
Financial Stability Report |
| FSU |
Financial Stability Unit |
| FWG |
Framework Working Group |
| GCC |
General Credit Card |
| GDP |
Gross Domestic Product |
| GDR |
Global Depository Receipts |
| GFCE |
Government Final Consumption Expenditure |
| GFCF |
Gross Fixed Capital Formation |
| GFD |
Gross Fiscal Deficit |
| GFSG |
Green Finance Study Group |
| GNDI |
Gross National Disposable Income |
| GoI |
Government of India |
| GRF |
Guarantee Redemption Funds |
| G-secs |
Government Securities |
| GSIBs |
Global Systemically Important Banks |
| GST |
Goods and Services Tax |
| GSTN |
Goods and Services Tax Network |
| GVA |
Gross Value Added |
| HFCs |
Housing Finance Companies |
| HPC |
High Powered Committee on UCBs |
| HQLA |
High Quality Liquid Assets |
| HRMD |
Human Resource Management Department |
| HRM-SC |
Human Resource Management Sub-Committee |
| HTM |
Held-to-Maturity |
| IADI |
International Association of Deposit Insurers |
| IASS |
Integrated Accounting Software Solution |
| IBA |
Indian Banks’ Association |
| IBS |
International Banking Statistics |
| ICD |
Institute for Capacity Development |
| ICSDs |
International Central Securities Depositories |
| ICT |
Information & Communication Technology |
| IDBI |
Industrial Development Bank of India |
| IDPMS |
Import Data Processing and Monitoring System |
| IDRBT |
Institute for Development and Research in Banking Technology |
| IFC |
International Finance Corporation |
| IFCs |
Infrastructure Finance Companies |
| IFI |
International Financial Institution |
| IFRS |
International Financial Reporting Standards |
| IFTAS |
Indian Financial Technology and Allied Services |
| IGIDR |
Indira Gandhi Institute of Development Research |
| IIBM |
International Institute of Business Management |
| IIP |
Index of Industrial Production |
| IMF |
International Monetary Fund |
| IMPS |
Immediate Payment Service |
| Ind AS |
Indian Accounting Standards |
| INR |
Indian Rupee |
| IORWG |
International Operational Risk Working Group |
| IOSCO |
International Organisation of Securities Commission |
| IPOs |
Initial Public Offerings |
| IRDA |
Insurance Regulatory and Development Authority |
| IRF |
Inter-Regulatory Forum |
| IRS |
Interest Rate Swaps |
| IRTG |
Inter-Regulatory Technical Group |
| IS |
Information Security |
| ISI |
Indian Statistical Institute |
| ISO |
International Standardisation Organisation |
| ISOC |
Information Security Operations Centre |
| ISPB |
Index of Service Production for Banking Sector |
| IT |
Information Technology |
| ITBs |
Intermediate Treasury Bills |
| IT-SC |
Information Technology Sub-Committee |
| JLF |
Joint Lenders’ Forum |
| KCC |
Kisan Credit Card |
| kWp |
Kilowatt Peak |
| KYC |
Know Your Customer |
| LABs |
Local Area Banks |
| LAF |
Liquidity Adjustment Facility |
| LCR |
Liquidity Coverage Ratio |
| LEF |
Large Exposures Framework |
| LEI |
Legal Entity Identifier |
| LLP |
Limited Liability Partnership |
| LMS |
Litigation Management System |
| LPA |
Long Period Average |
| LPG |
Liquefied Petroleum Gas |
| MAT |
Minimum Alternate Tax |
| MCA |
Ministry of Corporate Affairs |
| MCCs |
Mega Currency Chests |
| MCLR |
Marginal Cost of Funds Based Lending Rate |
| MDR |
Merchant Discount Rates |
| MEP |
Minimum Export Price |
| MFI |
Multilateral Financial Institution |
| MIBOR |
Mumbai Inter-bank Offer Rate |
| MICR |
Magnetic Ink Character Recognition |
| MIS |
Management Information System |
| MIU |
Market Intelligence Unit |
| MMS |
Mail Messaging System |
| MGNREGA |
Mahatma Gandhi National Rural Employment Guarantee Act |
| MoP |
Ministry of Power |
| MoU |
Memorandum of Understanding |
| MPC |
Monetary Policy Committee |
| MPD |
Monetary Policy Department |
| MPFA |
Monetary Policy Framework Agreement |
| MPR |
Monetary Policy Report |
| MSCI |
Morgan Stanley Capital International |
| MSEs |
Micro and Small Enterprises |
| MSF |
Marginal Standing Facility |
| MSMEs |
Micro, Small and Medium Enterprises |
| MSPs |
Minimum Support Prices |
| MTDS |
Medium-Term Debt Management Strategy |
| MTF |
Medium-Term Framework |
| MTS |
Mass Transit System |
| MTSS |
Money Transfer Service Scheme |
| NABARD |
National Bank for Agriculture and Rural Development |
| NACH |
National Automated Clearing House |
| NAMCABS |
National Mission for Capacity Building of Bankers for Financing MSME Sector |
| NBFC |
Non-Banking Financial Company |
| NBFC-AA |
NBFC- Account Aggregator |
| NDA |
Net Domestic Assets |
| NDS-OM |
Negotiated Dealing System-Order Matching |
| NDTL |
Net Demand and Time Liabilities |
| NEFT |
National Electronic Funds Transfer |
| NFA |
Net Foreign Assets |
| NFC |
Non Food Credit |
| NFS |
National Financial Switch |
| NGOs |
Non-Government Organisations |
| NHB |
National Housing Bank |
| NIBM |
National Institute of Bank Management |
| NOF |
Net Owned Funds |
| NOFHC |
Non-Operative Financial Holding Company |
| NPA |
Non-Performing Asset |
| NPCI |
National Payments Corporation of India |
| NPI |
Non-Performing Investment |
| NPLL |
Normally Permitted Lending Limit |
| NPS |
National Pension System |
| NRIs |
Non-Resident Indians |
| NRLM |
National Rural Livelihood Mission |
| NRO |
Non-Resident Ordinary Rupee |
| NSEL |
National Spot Exchange Limited |
| NSFR |
Net Stable Funding Ratio |
| OBE |
Off Balance Sheet Exposures |
| OBO |
Office of Banking Ombudsman |
| OD |
Overdraft Facility |
| O-in-Charge |
Officer-in-Charge |
| OMO |
Open Market Operations |
| ORM |
Operational Risk Management |
| OROP |
One Rank One Pension |
| OSMOS |
Off-Site Monitoring and Surveillance System |
| OTC |
Over the Counter |
| P2P |
Peer-to-Peer |
| PACS |
Primary Agricultural Co-operative Societies |
| PDMA |
Public Debt Management Agency |
| PDs |
Primary Dealers |
| PFCE |
Private Final Consumption Expenditure |
| PFMIs |
Principles for Financial Market Infrastructures |
| PIOs |
Person of Indian Origin |
| PMG |
Project Monitoring Group |
| PMI |
Purchasing Managers Index |
| PMJDY |
Pradhan Mantri Jan-Dhan Yojana |
| POL |
Petroleum, Oil and Lubricant |
| PoP |
Point of Presence |
| PoS |
Point of Sale |
| PPIs |
Prepaid Payment Instruments |
| PSBs |
Public Sector Banks |
| PSLCs |
Priority Sector Lending Certificates |
| PSOs |
Payment System Operators |
| PSS |
Payment and Settlement Systems Act |
| PSU |
Public Sector Unit/Undertaking |
| QCCP |
Qualified Central Counterparty |
| QIB |
Qualified Institutional Buyer |
| QPM |
Quarterly Projection Model |
| RAF |
Risk Appetitie Framework |
| RBI |
Reserve Bank of India |
| RBIA |
Risk-Based Internal Audit |
| RBIQ |
Reserve Bank of India Quiz |
| RBS |
Risk-Based Supervision |
| RBSC |
Reserve Bank Staff College |
| RD |
Revenue Deficit |
| RDDBFI |
Recovery of Debts Due to Banks and Financial Institutions |
| RDs |
Regional Directors |
| RE |
Revised Estimate |
| ReBIT |
Reserve Bank Information Technology Private Limited |
| REER |
Real Effective Exchange Rate |
| RFP |
Request For Proposal |
| RGG |
Returns Governance Group |
| RGS |
Risk Governance Structure |
| RHF |
Rural Housing Fund |
| RIDF |
Rural Infrastructure Development Fund |
| RM |
Reserve Money |
| RMD |
Risk Monitoring Department |
| RO |
Regional Office |
| RoA |
Return on Assets |
| RRBs |
Regional Rural Banks |
| RRs |
Risk Registers |
| RTGS |
Real Time Gross Settlement System |
| RTI |
Right to Information Act |
| RTL |
Risk Tolerance Limit |
| RTS |
Risk Tolerance Statement |
| SAARC |
South Asian Association for Regional Cooperation |
| SARFAESI |
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest |
| SBAs |
Small Borrowal Accounts |
| SBI |
State Bank of India |
| SCB |
Scheduled Commercial Banks |
| SDDS |
Special Data Dissemination Standards |
| SDL |
State Development Loans |
| SDR |
Strategic Debt Restructuring |
| SEACEN |
South East Asian Central Banks |
| SEBI |
Securities and Exchange Board of India |
| SFBs |
Small Finance Banks |
| SFDB |
SAARCFINANCE database |
| SFMS |
Structured Financial Messaging System |
| SFS |
State Finance Secretaries |
| SG |
State Government |
| SGB |
Sovereign Gold Bond |
| SHGs |
Self-Help Groups |
| SIDBI |
Small Industries Development Bank of India |
| SIDSPL |
SWIFT India Domestic Services Private Limited |
| SIFMIs |
Systemically Important Financial Market Infrastructures |
| SLBCs |
State Level Bankers’ Committees |
| SLR |
Statutory Liquidity Ratio |
| SME |
Small and Medium Enterprises |
| SNRR |
Special Non- Resident Rupee |
| SPARC |
Supervisory Programme for Assessment of Risk and Capital |
| SPMCIL |
Security Printing and Minting Corporation of India Limited |
| SRs |
Security Receipts |
| StCBs |
State Co-operative Banks |
| STOs |
State Treasury Offices |
| STP |
Straight-Through Processing |
| STRIPS |
Separate Trading of Registered Interest and Principal of Securities |
| SWIFT |
Society for Worldwide Interbank Financial Telecommunication |
| SWIPS |
System-Wide Important Payment Systems |
| TAC |
Technical Advisory Committee |
| TAG |
Technical Advisory Group |
| T-Bills |
Treasury Bills |
| TDS |
Tax Deduction at Source |
| TE |
Training Establishment |
| TLAC |
Total Loss Absorption Capacity |
| TReDS |
Trade Receivable and Discounting System |
| TV |
Television |
| UAE |
United Arab Emirates |
| UCBs |
Urban Co-operative Banks |
| UDAY |
Ujwal Discom Assurance Yojana |
| UHF |
Urban Housing Fund |
| UN-ESCAP |
United Nations Economic and Social Commission for Asia and the Pacific |
| VAPT |
Vulnerability Assessment and Penetration Testing |
| VaR |
Value at Risk |
| VECM |
Vector Error Correction Model |
| VOFs |
Visiting Officers Flat |
| WACR |
Weighted Average Call Rate |
| WALR |
Weighted Average Lending Rate |
| WI |
When Issued |
| WLAs |
White Label ATMs |
| WMA |
Ways and Means Advances |
| WP |
Working Paper |
| WPI |
Wholesale Price Index |
| XBRL |
eXtensible Business Reporting Language |
| y-o-y |
Year-on-Year |