List of Banking related abbreviations

List of Banking related abbreviations

Banking jobs are interesting but is associated with risk and time management in this sector is very essential.  So abbreviations are used in banking sector in order to save time and is also used for easiness.   For example:  it is easy to say ECC instead of Electronic Cheque Clearing, and ATM instead of Automated Teller Machine.  Generally ATM and KYC are popular instead of its full form and most of customer may not know their full form. So, we are presenting some full form of banking related abbreviations and it may be useful for exam preparation or interview for banking jobs In addition, following abbreviations can be used for general knowledge. We will add some more terms in coming days.

1. ATM= Automated Teller Machine
2. PIN= Personal Identification Number
3. POS= Point of Sale
4. ECC= Electronic Cheque Clearing
5. IPS= Inter Bank Payment System
6. NCHL= Nepal Clearing House Limited
7. KYC- Know Your Customer
8. AML= Anti Money Laundering
9. FD= Fixed Deposit
10. SWIFT= Society for World Wide Interbank Financial Telecommunication
11. CFT= Combating the Financing of Terrorism
12. TT= Telegraphic Transfer
13. LC= Letter of Credit
14. BG= Bank Guarantee.
15. LG= Letter of Guarantee
16. I Banking= Internet Banking
17. M Banking= Mobile Banking
18. Counter Cheque= Wslip/Withdrawal Slip
19. DD= Demand Draft
20. ACP= Account Payee
21. SME= Small and Medium Enterprises
22. OD= Overdraft
23. HL= Housing Loan
24. HPL= Hire Purchase Loan
25. VL= Vehicle Loan
26. RTGS= Real Time Gross Settlement
27. GFP= Good for Payment
28. CIT= Cash in Transit
29. MC= Managers Cheque
30. ASBA= Application Supported by Blocked Amount
31. CSD- Customer Service Desk
32. KYS= Know Your Staff
33. MB= Mega Byte
34. Mb= Mega Bit(1 MB= 8 Mb)
35. PAN= Permanent Account Number
36. TDS= Tax Deducted at Source
37. CA= Chartered Accountants
38. RA= Registered Auditor
39. EMI= Equated Monthly Installment
40. BM= Branch Manager
41. OI= Operation In-charge
42. CI= Credit In-charge
43. RM= Regional Manager
44. IPO- Initial Public Offering
45. MICR= Magnetic Ink Character Recognition