Banking is a broad term that refers to the area of finance and money that banks offer. Banks are one of the most important institutions in our society and are the most widely used methods to store and move money. Banking has been around for thousands of years and is still used today. The goal of banking is to provide a safe means of storing and exchanging money, providing loans and assessing creditworthiness, and providing financial advice. Banks offer many different products, including loans, credit cards, savings products, and insurance.
Banking Full Forms
| ACU | Asian Currency Union |
| ADB | Asian Development Bank |
| ADR | American Depository Receipt |
| AIIB | Asian Infrastructure Investment Bank |
| ATM | Automated Teller Machine |
| BOB | Bank of Baroda |
| BHIM | Bharat Interface for Money |
| CBL | Chest Balance Limited |
| CBS | Core Banking System |
| CAIIB | Certified Associate of Indian Institute for Bankers |
| CIF | Customer Information File |
| CMA | Credit Monitoring Analysis |
| CASA | Current Account Saving Account |
| CAD | Capital Account Deficit |
| CRR | Cash Reserve Ratio |
| CTS | Cheque Truncation System |
| DCB | Development Credit Bank |
| DEAF | Depositor Education and Awareness Fund |
| ECC | Excise Control Code |
| ELSS | Equity Link Saving Scheme |
| EMI | Equated Monthly Instalment |
| EPFO | Employee Provident Fund Organization |
| EFTPOS | Electronic funds transfer at point of sale |
| EFT | Electronic Fund Transfer |
| ECS | Electronic Clearing Service |
| ECB | External Commercial Borrowing |
| ELSS | Equity linked Saving Scheme |
| FCCB | Foreign Currency Convertible Bond |
| FEMA | Foreign Exchange Management Act |
| FICCI | Federation of Indian Chambers and Commerce and Industry |
| HDFC | Housing Development Finance Corporation |
| HSBC | Hongkong and Shanghai Banking Corporation |
| HUDCO | Housing and Urban Development Corporation Limited |
| IBBI | Insolvency and Bankruptcy Board of India |
| ICICI | Credit and Investment Corporation of India |
| IDBI | Industrial Development Bank of India |
| IDFC | Infrastructure Development Finance Company |
| IFS | Indian Foreign Service |
| IFSC | Indian Financial System Code |
| IMF | International Monetary Fund |
| INR | Indian Rupee |
| IPO | Initial Public Offering |
| IRDA | Insurance Regulatory and Development Authority |
| IROs | Interest Rate Options |
| JAIIB | Junior Associate of the Indian Institute of Bankers |
| KYC | Know Your Customer |
| KCC | Kisan Credit Card |
| KMB | Kotak Mahindra Bank |
| KVB | Karur Vysya Bank |
| LAF | Liquidity Adjustment Facility |
| LTV | Loan to Value |
| MCLR | Marginal Cost of Funds Based Lending Rate |
| MMID | Money Mobile Identifier |
| NABARD | National Bank for Agriculture and Rural Development |
| NBFC | Non-Banking Financial Companies |
| NEFT | National Electronic Funds Transfer |
| NPCI | National Payments Corporation of India |
| OTP | One Time Password |
| OTC | Over the counter |
| PAN | Permanent Account Number |
| PIN | Personal Identification Number |
| PBX | Private Branch Exchange |
| PFMS | Public Financial Management System |
| PNB | Punjab National Bank |
| PSB | Public Sector Bank |
| QIB | Qualified Institutional Bankers |
| RBL | Ratnakar Bank Limited |
| RTGS | Real Time Gross Settlement |
| SBI | State Bank of India |
| SEBI | Securities and Exchange Board of India |
| SIDBI | Small Industries Development Bank of India |
| SIP | Systematic Investment Plan |
| SIPS | Systematically Important Payment System |
| SPNS | Shared Payment Network System |
| TAN | Tax Deduction and Collection Account Number |
| TDS | Tax Deducted at Source |
| TIN | Tax Payer Identification Number |
| UCO Bank | United Commercial Bank |
| UPI | Unified Payment Interface |
| VAT | Value Added Tax |
| WCTL | Working Capital Term Loan |