Banking & Finance Full Forms — SBI, IFSC, EMI, GST & More

Last updated: Sep 2026

Banking and finance can be confusing with all the abbreviations. Here's a complete guide to 40+ banking and finance full forms used in India, from basic terms (ATM, EMI) to government policies (GST, TDS).

Full List of Banking & Finance Terms

Abbreviation	Full Form	Meaning
AEPS	Aadhaar Enabled Payment System	Digital payment using Aadhaar number
ATM	Automated Teller Machine	Machine for cash withdrawal without bank visit
BIS	Bank for International Settlements	International organization for central banks
CIBIL	Credit Information Bureau (India) Limited	Credit rating agency that tracks credit history
CRR	Cash Reserve Ratio	Percentage of deposits banks must hold with RBI
CTR	Currency Transaction Report	Report for large cash transactions
DEMAT	Dematerialized Securities Account	Digital account for holding shares and securities
EMI	Equated Monthly Installment	Fixed monthly payment for loans
FD	Fixed Deposit	Bank savings scheme with fixed interest rate
FEMA	Foreign Exchange Management Act	Law regulating foreign currency in India
FOREX	Foreign Exchange	Trading of currencies
FPI	Foreign Portfolio Investment	Foreign investment in Indian securities
GDP	Gross Domestic Product	Total economic output of a country
GST	Goods and Services Tax	Unified tax on goods and services in India
HDFC	Housing Development Finance Corporation	Major Indian mortgage and banking company
ICICI	Industrial Credit and Investment Corporation of India	Major Indian private bank
IFSC	Indian Financial System Code	Bank-specific code for electronic transfers (NEFT, RTGS)
IMPS	Immediate Payment Service	Instant mobile-based money transfer
IPO	Initial Public Offering	First sale of stock by a company to public
KYC	Know Your Customer	Verification process for bank/investment accounts
LIBOR	London Interbank Offered Rate	International benchmark interest rate
LIC	Life Insurance Corporation	India's largest insurance company
MICR	Magnetic Ink Character Recognition	Code on bank checks for electronic processing
NEFT	National Electronic Funds Transfer	Batch system for fund transfers between banks
NPA	Non-Performing Asset	Loan on which borrower has defaulted
OTM	Over The Money	Option that has no intrinsic value
PAN	Permanent Account Number	Tax identification number in India
PLR	Prime Lending Rate	Rate used by banks for lending
RBI	Reserve Bank of India	Central bank of India; controls monetary policy
RFC	Request For Credit	Loan application process
RTGS	Real Time Gross Settlement	System for immediate transfer of large amounts
SBI	State Bank of India	India's largest public sector bank
SLR	Statutory Liquidity Ratio	Percentage of deposits banks must invest in government securities
TAN	Tax Deduction Account Number	Number for tax deducted at source (TDS) filing
TDS	Tax Deducted at Source	Tax deducted by payer and paid to government
UPI	Unified Payments Interface	Mobile payment system in India (Google Pay, PhonePe, etc.)
URSAD	Unrealized Seigniorage Account Details	RBI account management term (technical)
VSAT	Very Small Aperture Terminal	Satellite communication for bank branches

Frequently Asked Questions

Q: What is the difference between NEFT and RTGS?

A: NEFT is a batch system (transfers processed at fixed times, usually 30 mins) for any amount. RTGS is real-time (immediate) but has a minimum transfer limit (₹2 lakh).

Q: What is IFSC code used for?

A: IFSC (Indian Financial System Code) identifies a specific bank branch for electronic transfers like NEFT, RTGS, and IMPS.

Q: Is KYC mandatory for a bank account?

A: Yes, KYC (Know Your Customer) is mandatory for opening bank accounts and investment accounts to prevent fraud and money laundering.

Q: What is GST and how does it work?

A: GST (Goods and Services Tax) is a unified tax replacing multiple taxes (VAT, excise, etc.). It's charged at different rates (5%, 12%, 18%, 28%) depending on goods/services.

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