Banking Abbreviations - 2

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• LAB      -----------------------    Local Area Bank

• LC      -----------------------    Letter of Credit

• LOC      -----------------------    Letter Of Comfort 
• Dont confuse between LC and LOC

• M-Banking      -----------------------    MObile Banking

• NABARD      -----------------------    National Bank for Agriculture and Rural Development

• NBFC      -----------------------    Non-Banking Finance Company

• NDS      -----------------------    Negotiated Dealings System

• NDTL      -----------------------    Net Demand and Time Liabilities

• NEFT      -----------------------    National Electronic Fund Transfer

• NHB      -----------------------    National Housing Bank

• NI Act       -----------------------    Negotiable Instrument Act

• NPA      -----------------------    Non-Performing Assets

• NRE a/c      -----------------------    Non-Resident External Account

• NRI      -----------------------    Non-Resident Indian

• NWC      -----------------------    Networking Capital

• OBU      -----------------------    Off-Shore Banking Units

• PAN      -----------------------    Permanent Account Number

• PLR      -----------------------    Prime Lending Rate

• PMEGP      -----------------------    Prime Minister's Employment Generation Programme

• PMRY      -----------------------    Prime Minister's Rozgar Yojana

• PSA      -----------------------    Priority Sector Advances

• QIB      -----------------------    Qualified Institutional Buyers

• REPO      -----------------------    Re-Purchase Option

• RIDF      -----------------------    Rural Infrastructure Development Fund

• RTGS      -----------------------    Real Time Gross Settlement

• RTI Act      -----------------------    Right To Information Act

• SARFAESI Act      -----------------------    Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest 

• SCB      -----------------------    Scheduled Commercial Banks

• SEBI      -----------------------    Securities and Exchange Board of India

• SGL      -----------------------    Subsidary General Ledger

• SHG      -----------------------    Self Help Groups

• SIDBI      -----------------------    Small Industries Development Bank of India

• SLR      -----------------------    Statutory Liquidity Ratio

• SME      -----------------------    Small and Medium Enterprises 

• SWIFT      -----------------------    Society for World wide Inter Bank Fund Transfer

• TDS      -----------------------    Tax Deducted at Source

• UCPDC - 600       -----------------------    Uniform Customers and Practices on Documentary Credits

• YTM      -----------------------    Yield To Maturity

Banking Terms - A Complete Glossary of Bank Terminology for Bank Interview and Exam Preparation