Banking Awareness Set 71 (Important Abbreviations)

Important Banking Abbreviations for Upcoming exams

This set contains important Banking Abbreviations for upcoming banking and insurance exams like SBI PO, IBPS PO, RRB PO, NICL, IBPS Clerk. In recent exams the number of questions asked has increased. So be prepared with these some uncommon expected abbreviations. Important Banking Abbreviations SBI PO Upcoming Exams

  1. Banks were advised to initiate urgent steps to ensure electronic filing of cash transaction report (CTR) and Suspicious Transaction Reports (STR) to FIU-IND. What does I stand for in FIU?
    A) Independent
    B) International
    C) Investment
    D) Intelligence
    View Answer
    Option D
    Explanation
    : Financial Intelligence Unit – India (FIU-IND)
  2. What does D stands for in DRI with respect to Interest Scheme?
    A) Different
    B) Dynamic
    C) Differential
    D) Development
    View Answer
    Option D
    Explanation
    : Differential Rate of Interest
  3. To widen the reach of the NDS-OM, indirect access through the CSGL route was extended by Reserve Bank of India. What does S stands for in CSGL?
    A) Saving
    B) Subsidiary
    C) Simplified
    D) Systematic
    View Answer
    Option B
    Explanation
    : CSGL- Constituent Subsidiary General Ledger
    NDS-OM- Negotiated Dealing System – Order Matching (OM) System
    and Subsidiary General Ledger (SGL)
  4. Number of banks have extended large loans to various Mutual Funds and have also issued IPC to stock exchanges on behalf of Mutual Funds/FIIs. What does I stands for in IPC?
    A) Institutional
    B) Investment
    C) Irrevocable
    D) Instrument
    View Answer
    Option C
    Explanation
    : Irrevocable Payment Commitments
  5. What is the full form of EEFC Account?
    A) Equity Enabled Foreign Currency
    B) Exchange Earner’s Foreign Currency
    C) Electronic Earning Foreign Currency
    D) Earning Enabled Foreign Currency
    View Answer
    Option B
    Explanation
    : Exchange Earner’s Foreign Currency (EEFC) Account
  6. What does O stands for in ESOP?
    A) Order
    B) Overdraft
    C) Ownership
    D) Offshore
    View Answer
    Option C
    Explanation
    : employee stock ownership plan (ESOP)
  7. Banks were permitted to transact in IRF for the purpose of hedging the risk in their underlying investment portfolio. What does F stands for in IRF?
    A) Forwards
    B) Formula
    C) Futures
    D) Fixation
    View Answer
    Option C
    Explanation
    : Interest Rate Futures
  8. What does SRF stands for?
    A) savings responsive funds
    B) saving refinance fund
    C) special responsive fund
    D) special refinance facility
    View Answer
    Option D
    Explanation
    : Special Refinance Facility (SRF) introduced under Section 17(3B) of the Reserve Bank of India Act, 1934 for SCBs
  9. What does A stands for in LAF?
    A) Account
    B) Advance
    C) Associate
    D) Adjustment
    View Answer
    Option D
    Explanation
    : Liquidity Adjustment Facility
  10. What does F stands for in ETFPOS?
    A) Funds
    B) Financial
    C) Foreign
    D) Forwards
    View Answer
    Option A
    Explanation
    : Electronic funds transfer at Point of Sale

 


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Some More Abbreviations

HFC– Housing Finance Companies
FCCB– Foreign Currency Convertible Bonds 
ACU– Asian Clearing Union 
NBFC-ND-SI= Non Banking Financial Company – Non-Deposit – Systemically Important
NCAF– New Capital Adequacy Framework 
CCR– Counterfeit Currency Report
KYC– Know Your Customer 
AML– Anti Money Laundering
CFT– Combating of Financing of Terrorism

 

Keep Visiting !!!!! We will add more Abbreviations that are Important for SBI PO 

 

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11 Thoughts to “Banking Awareness Set 71 (Important Abbreviations)”

  1. Ambika

    thank you sir 🙂

    1. Inquisitive

      The amount invested in Kisan Vikas Patra will mature in how many months?

  2. MAYANK BHARADWAJ100%

    tks

  3. sachin shukla@Target SBI Mains

    thankuu)

  4. yo

    thankyou………..

  5. kumkum ahuja

    thank u

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