Banking Terms And Abbreviations

Terms	Full Form	Definition
DBOD	Department of Banking Operations and Development	It helps to develop and regulate all the commercial banks in India.
DBS	Department of Banking Supervision	supervise banks
DCA	Department of Company Affairs	The Function of this department is to keeps the company up to date with all the current affairs.
DTC	Direct Tax Code	The existing income tax act was replaced the direct tax code which reduced the         litigation scope.
DCCB	District Cooperative Central Bank	It Established in India by RBI. The motive of this bank is to serve in rural areas.
DCM	Department of Currency Management	The RBI carries out the task of currency management through DCM. The bank notes are stored in the rooms called ‘currency chests’. Only some selected banks across the country keep these chests.
DTAA	Double Taxation Avoidance Agreement	This agreement which was signed to help people (Individual) out of the problem of paying double taxes in two different countries for the same income.
DD	Demand Draft	It is similar to a bill of exchange also known as pay to order. It is a negotiable instrument. Demand Draft can only be made payable to a specified party.
DEAF	Depositor Education and Awareness Fund	The scheme opened by RBI in 2014. Under this scheme, if a person dies without informing his family member about the FD account he opened with a bank, then this account is considered under this scheme and Afterward, if his family member comes across the knowledge of that account then DEAF scheme helps such families a lot.
DDS	Data Dissemination Standards	Basically, it is a method of distributing any statistical data or any other data among the end users. The data distributed is in a common format, and the data cannot be copied by anyone.
DICGC	Deposit Insurance Credit Guarantee Corporation of India	A subsidiary of RBI. The main objective of DICGC is to guarantee people related to the credit facilities they enjoy.
EEFC	Exchange Earner’s Foreign Currency	The EEFC account is used by those who earns from foreign exchange. He maybe     a person Individual or may be Individual companies, no matter who. The main objective of this account is to maintain the foreign currency; even those people who are a resident in India can get this Account opened.
ECGC	Export Credit and Guarantee Corporation	It secures exporters from the credit risk and also guarantees the payment of the product they ship. It also covers the political risk and commercial risk in business as well. It promotes the export trade of the country.
ECS	Electronic Clearing Scheme	It is a method of transferring fund electronically. In this scheme, a person can transfer funds to some other person’s account for payment.
EEA	Exchange Equalization Account	It established in 1932. It manages international market’s exchange value.
EPF:	Employees Provident Fund	The scheme launched in 1952. Under which employees of the factory and many other workers receives many free services from the government as the government gives fund to employees.
EEFC	Exchange Earner’s Foreign Currency	To maintain the foreign currency, authorized dealers uses this EEFC in their account.
ECBs	External Commercial Borrowings	To facilitate PSUs to access foreign money, this commercial borrowing is used.
FIPB	Foreign Investment Promotion Board	It is recommended by FDI (foreign direct investment).
FDI	Foreign Direct Investment	It is a measure of the foreign investments in the percentage that can directly be invested in debentures, equity, shares. It is a way to strengthen the economy base of a country by foreign investment.
FSLRC	Financial Sector Legislative Reforms Commission	The government of India established it in 2011. If the financial market is affected by legislative then FSLRC has the rights to rewrite the legislative to maintain the financial market.
FEMA	Foreign Exchange Management Act	It was established in 1999. Its prime objective is to develop, maintain and promote the Indian foreign exchange market.
FII	Foreign Institutional Investors	To originate loans and buy assets some institutional investors pool money. Mostly, these institutional investors include Mutual Funds, Insurance Companies, Banks and so on.
FRBMA	Fiscal Responsibility and Budget Management Act.	Parliament of India established This Act., One can easily handle and manage the       public funds’, overall management under this act and also control and manage the Budget.
FTA	Free trade Agreement	To reduce the traffic in trading, two countries signed this agreement. FTA helps to carry on free trade with countries who shares common borders. The member countries can demand fees or charges on trade from countries who are not a member.
FINO	Financial Inclusion Network Operation	In 2006 ICICI bank formed it. Various financial institutes and 24 banks such as ICICI Prudential, LIC and so on, have adopted FINO.
FCNR	Foreign Currency Non – Resident Bank	In this bank, as the name suggest only NRI ( Non-Resident Indians) are allowed to deposit their money (foreign currency). This bank proves beneficial to NRIs.
EFSF	Federation of India Chambers of Commerce & Industry	Established in 1927. One of the oldest Indian business organization and a non-profit making organization since 1927. Its current President is Pankaj Patel of FICCI.
FII	Foreign Institutional Investors	To originate loans and buy assets some institutional investors pool money. Mostly, this institutional investor includes Mutual Funds, Insurance Companies, Banks and so on.