Points to remember in Banking sector

• LLP: Limited Liability Partnership

  Organizations maintains the Rural Infrastructure Development Fund (RIDF) -NABARD

  
  

  TRIPS – ‘Trade Related Intellectual Property Rights’

  TRIMS – ‘Trade Related Investment Measures’

  are associated with ---Dunkel Proposal

  
  

  Many a times we read a term in financial news papers ‘SEPA’. What is the full form of the term

  Single Euro Payments Area

  
  

  
  

   Marginal Propensity to Consume (MPC) means – When income rises consumption Remains constant

  
  

  National Agricultural Cooperative Marketing Federation is known as—

   NAFED

  
  

  
  

  NABARD(development bank) recently launched “Farmers Information Service via SMS” to help farmers in Gujarat state

  
  

  ESMA: Essential Services Maintenance Act

  
  

  Trade control in India : DGFT(Directorate general of Foreign Trade)

  
  

  ANBC: Adjusted Net Bank credit

  Adjusted Net Bank Credit is Net Bank Credit added to investments made by banks in non-SLR bonds (in held-to-maturity (HTM)) or it is the credit equivalent of off-balance-sheet exposures, whichever is higher.

  
  

  Green Tax on vehicles: The Maharashtra government  decided to levy environment tax on commercial vehicles which are over eight years old and private vehicles which are over 15 years

  
  

  Branchless Banking:

  Banks will not have many branches as used to be in the good old days. Instead, the number of branches will be restricted and will conduct only a specified core business.

   Banks will launch/operate many delivery channels like ATMs, Mobile Banking/ Internet Banking etc sot that people are not required to visit a branch for their usual banking needs.

  This means banks will issue only debit or credit cards for all types of day-to-day financial

  transactions. Cheques/cash payments will not be allowed.

  
  

  Rural Woman can avail the benefit of Mahila Samriddhi Yojana if they open their account in

  Rural Post offices.

  
  

  DTC stands for Direct Tax Code

  
  

  ULIP:  Unit Linked Insurance Plan

  
  

  CFRA: Combined Finance and  Revenue Accounts

  
  

  CGRA: Curreny and Gold revalution Account

  
  

  Fully owned by RBI:

  Fully owned: National Housing Bank(NHB),

  Deposit Insurance and Credit Guarantee Corporation of India(DICGC),

  Bharatiya Reserve Bank Note Mudran Private Limited(BRBNMPL

  
  

  Minimum Support Price recommended by  Commission for Agricultural Costs and Prices (CACP)

  
  

  NDS: Negotiated Dealing System  is an electronic platform for facilitating dealing in Government Securities and Money Market Instruments.

  
  

  Two products from SIDBI

  Assistance for MSME

  1. GEMS: Growth capital and Equity Assistance for MSMES.

  2. FACE: Flexible Assistance for capital expenditure

  
  

  Electronic payment products viz.

  Real Time Gross Settlement (RTGS),

  National Electronic Funds Transfer (NEFT),

  National Electronic Clearing Service (NECS) and

  Electronic Clearing Service (ECS)

  
  

  CGTMSE: Credit guarantee and Fund Trust for Micro and Small Enterprises

  Setup by GOI+SIDBI

  
  

  IBPC: Inter bank Participation Certificate

  
  

  FIRC: Foreign Inward Remmitance Certificate

  
  

  CLSS; Credit linked Capital Subsidy scheme

  
  

  SEPA: Single Euro Payment Area

  
  

  ESMA: Essential Service Maintenance Act

  
  

  CBLO:  Collateralized Borrowing and lending obligation(Money Market instrument)

  
  

  Different Types of Money Market Instrument:

  T-bills

  Repurchase Agreements

  Commercial papers,

  Certificate of Deposit used by banks.

  
  

  
  

  IRS-Interest rate swap

  FRA- Forward Rate Agreement

  both used by CCIL(clearing cooperation of India Limited)

  
  

  When a loan granted for purchase of white goods called consumer durable loan

  
  

  Objective of NFSM(National Food Security Mission) To increase the production of wheat, rice and pulses on a substainable basics

  
  

  FNC-financial Holding company headed by Shyimaal Gopinath

  
  

  NSDP: National summary dat apage

  
  

  SDDS: special Data dissemination standard developed by IMF.

  
  

  FINO:Financial information and Network operations

  
  

  RBIs First suboffice in north eastern state -Tripura

  
  

  Guarentee to exporters-ECGC-Export Credit Corporation of India

  
  

  Credit History of Borrowers by CIBIL (credit Information Burea india Limited)

  
  

  BIFR: Board for Financial and Economic Reconstruction

  
  

  ESCAP: Economic and Social commision for Asia and Pacific

  
  

  EPS: Earning Per share-shows what a company had earned for each of its shares

  
  

  IRAC: Income Recognination and Asset Classification

  
  

  DIPB: Duty free Entitled passbook

  
  

  DIPP - Department of Industrial Policy and Promotion (MINISTRY OF COMMERCE & INDUSTRY)

  
  

  FIPB(body/agency set up by Govt. of India to increase the flow of foreign investment in the country).  Foreign Investment Promotion Board

  
  

  FEMA: Foreign Exchange Management Act.

  
  

  NSDL:  National Securities Depository Limited

  
  

  FIMMDA: Fixed income Money Market and Derivatives Association

  
  

  FIEO: Federation of Indian Export Organisations

  FIEO President- Ramu S Deora

  
  

  The Market in which  long term securities sold as stocks and bonds are bought  and sold is called Capital Market

  
  

  CAMEL: Capital Adequecy, Assset quality, Management quality, Earnings quality, Liquidity

  
  

  CORE: Centralised Online Realtime Electronic

  
  

  CRISIL: Credit Rating Information Services of India ltd

  
  

  ICRA: Investment Information and Credit Rating Agency of INdia

  
  

  FRBM: Fiscal Responsibility and Budget Management

  
  

  FSLRC: Financial Sector Legislative Reforms Commision (Headed by Finance Minister)

  
  

  RDBFI: Recovery of Debts due to Banks and Financial Inclusion

  
  

  PFRDA: Pension fund Regulatory Developent Authority

  
  

  SARAFASI: Securitazation and Reconstruction financial Assets and Enforcement of Security Interest

  
  

  CSR: Corporate Social Responsibility

  To ensure companies takes  steps for rehabilitation of project affected people

  
  

  DSCR:Debt Service Coverage Ratio

  
  

  FSDC- Financial Stability and Development Council

  
  

  STRIPS: Seperate Trading for Registered interest and Payment systems

  
  

  SWIFT: society for World wide InternetFinancial telecommunication Code

  
  

  ICAAP: Internal Capital Adequacy Assessment Process (done by bank itself)

  
  

  STCI: Securities Trading Coorporation of INDIA( RBI promotes STCI to PSBs)

  
  

  SREP: Supervisory Review and Evaluation(process done by RBI)

  
  

  CAFRAL: Center for Advanced Finance Reasearch and Learning

  
  

  NOHC: Non Operative Holding Company

  
  

  ASHA: Accredited Social Health Activist

  
  

  COPRA: consumer Protection ACt

  
  

  TRIFIED: Tribal cooperative Marketing Development federation of India Limited

  
  

  COMESA: Common Market for Eastren and Southern Africa.

  
  

  TERC: Trade and Economic Relations Committee( headed by Prime Minister)

  
  

  BIFR: BUreau of Industrial and Financial Reconstruction

  
  

  FLCC: Financial Literacy and Credit Counselling

  
  

  CENVAT-Cantral Value ADDED TAX,  excise duty/service tax is paid only when goods are consumed. Till then, burden of duty gets passed on to the next buyer/customer

  
  

  CAPART: Council for Advancement of People's action and Rural Technology

  
  

  SABLA: A woman welfare programme launched by the Central govt

  Committies:

  
  

  Tarapore Committee submitted its report on “Full Convertibility on Rupee” in Capital account

  
  

  committee recommended abolition of tax rebates -Kelkar Committee 

  
  

  The Reserve Bank has constituted a working group to review the current operating procedure of monetary policy, as transmission of the policy to the rest of the system remains imperfect. The group, to be headed by RBI executive director Deepak Mohanthy , will also review the liquidity adjustment facility (LAF), through which the central bank manages money supply in the system on a day-to-day basis

  
  

  Deepak  Mahanty committee- related to Base rate

  
  

  Usha Thorat committee committee sugested 75000 villages will have banking services by the year end 2012

  
  

  RBI Governor heads the Sub-committie of FSDC(Financial stability development Concil)

  
  

  Y.H Malegam committee-MFI Sector

  
  

  Pranab sen committe -related to Slum