Useful Banking Exam Terms & Abbreviations - PART - 3

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Banking Terms And Abbreviations


 

Terms Full Form Definition
FPI Foreign Portfolio Investment In which foreigners purchase or Issue company’s bond and stock by depositing money in the bank.
FSLRC Financial Sector Legislative Reforms Commission The government of India established it in 2011. If the financial market is affected by legislative then FSLRC has the rights to rewrite the legislative to maintain the financial market.
GDP Gross Domestic Product It is the measure to check the growth of the economy of the country. It is the ultimate value of services & goods produced at a given specified period
GDR Global Depository Receipt It is issued in the EURO market. Basically, it is used by an Indian company to raise funds in International or foreign currency.
GFD Gross Fiscal Deficit It is used to differentiate the total expense from non-debt capital receipt and revenue receipt.
GIC General Insurance Corporation Established in 1972. Its main objective was to manage and control the Indian insurance sector.
GAAR General Anti-Avoidance Rule The GAAR was made for anti-tax avoidance in 2012. Our Former Finance Minister “Pranab Mukherjee” formed this rule.
GPD Gross Primary Deficit or Gross Fiscal Deficit We can easily calculate the fiscal deficit or primary deficit by using the given formula.
GIRO Government Internal Revenue Order This is a panel controlled by Reserve Bank of India (RBI). Umesh Bellur is the Chairman of GIRO. RBI started It to centralize the system of bill payment.
HDFC Housing Development Finance Corporation Established in 1977. The motto of HDFC is “With you right through”. HDFC provides housing loans in India.
HFT Held For Trading It is defined as an asset purchased with a motive to receive short-term gain from it. That’s why it is also addressed as Short-term marketable security.
IBS International Banking Statistics Its purposes are, to provide guidelines to all reporting countries for reporting the data and to provide the complete detail about present country practicing the data reported.
ICAR Indian Council Agricultural Research Established in 1929 with a motto is “agri-search with a human touch”. It helps in studying agriculture because ICAR is the head of the department of agriculture in India.
ICICI Industrial Credit and Investment Corporation of India Established in 1994. If this bank is observing from assets ‘point of view, it stands as the 2nd largest bank of India and from Market Capitalization point of view, ICICI stands as the 3rd largest in India. ICICI owns a large network all over the world.
ICMR Indian Council of Medical Research ICMR has been one among the oldest basis for many medical types of research that took place in India. The government of India established this in India to expand the research center for the welfare of India.
IDBI Industrial Development Bank of India A subsidiary of Reserve Bank of India (RBI).hence it is controlled and managed by RBI.
IFC International Finance Corporation Established in 1956. The corporation provides help to many developing countries and many other private sectors by lending them money. The number of countries that joined with IFC is 184.
IFCI Industrial Financial Corporation of India It is a 1948, the government set up the financial institute. Its original purpose is to provide loans for the long term and medium term to their customers.
IIP Index of Industrial Production It is published every month by CSO (Central Statistical Organization). It is basically an index which is used to reflect the economy conditions and also reflects the growth of Industrial unit. CSO is the controlling body of IIP.
IMF International Monetary Fund An International Financial Institution established in 1945. The main objective of IMF is to maintain the flow of foreign currency in the Indian market.
IRBI Industrial Reconstruction Bank of India Established in 1985. This bank provides small & medium sectors with the credit facilities. IRBI has enough power to work and take enough steps to remove and cure the industrial sickness.
ISDA International Swaps & Derivatives Association A trade association established in 1985. The role of ISDA is to observe the derivative transactions. Therefore ISDA makes a master agreement in order to notify the derivative transactions. As ISDA brings the transparency in trade so it also reduces the credit risk.
ISIC International Standards Industrial Classification ISIC does classify all economic activities which are productive in nature. So it collects the statistics on all these economic activities and provides it.
ISO International Standards Organization It was a non-governmental organization established in 1947 with 162 members. ISO defines and represents the standards to be used by the national organization.
LBS Locational Banking Statistics It basically helps in International Banking Business. LBS was formed in the year of 1970. It reflects the growth that EURO currency has attained in the market and also the breakdown it suffers.
LIBOR London Interbank Offer Rate The bank accepts these rates, at the time of fund borrowing. LIBOR is actually named as British Banker Association LIBOR or BBA LIBOR.
LERMS Liberalized Exchange Rate Management System This system helps to exchange the currency or to control or manage the exchange rate system.
LIC Life Insurance Company of India When LIC comes into the existence in 1956, many small companies merged with LIC. It is basically an investment company with its headquarter in Mumbai.
LCR Liquidity Coverage Ratio. LCR = HQ LAS / Net cash outflows
LRMT Liquidity Risk monitoring Tools It is a tool that helps to keep a check on the liquidity of risk and is considered under BASEL III.