Banking Terms And Abbreviations

Terms	Full Form	Definition
FPI	Foreign Portfolio Investment	In which foreigners purchase or Issue company’s bond and stock by depositing money in the bank.
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.
GDP	Gross Domestic Product	It is the measure to check the growth of the economy of the country. It is the ultimate value of services & goods produced at a given specified period
GDR	Global Depository Receipt	It is issued in the EURO market. Basically, it is used by an Indian company to raise funds in International or foreign currency.
GFD	Gross Fiscal Deficit	It is used to differentiate the total expense from non-debt capital receipt and revenue receipt.
GIC	General Insurance Corporation	Established in 1972. Its main objective was to manage and control the Indian insurance sector.
GAAR	General Anti-Avoidance Rule	The GAAR was made for anti-tax avoidance in 2012. Our Former Finance Minister “Pranab Mukherjee” formed this rule.
GPD	Gross Primary Deficit or Gross Fiscal Deficit	We can easily calculate the fiscal deficit or primary deficit by using the given formula.
GIRO	Government Internal Revenue Order	This is a panel controlled by Reserve Bank of India (RBI). Umesh Bellur is the Chairman of GIRO. RBI started It to centralize the system of bill payment.
HDFC	Housing Development Finance Corporation	Established in 1977. The motto of HDFC is “With you right through”. HDFC provides housing loans in India.
HFT	Held For Trading	It is defined as an asset purchased with a motive to receive short-term gain from it. That’s why it is also addressed as Short-term marketable security.
IBS	International Banking Statistics	Its purposes are, to provide guidelines to all reporting countries for reporting the data and to provide the complete detail about present country practicing the data reported.
ICAR	Indian Council Agricultural Research	Established in 1929 with a motto is “agri-search with a human touch”. It helps in studying agriculture because ICAR is the head of the department of agriculture in India.
ICICI	Industrial Credit and Investment Corporation of India	Established in 1994. If this bank is observing from assets ‘point of view, it stands as the 2nd largest bank of India and from Market Capitalization point of view, ICICI stands as the 3rd largest in India. ICICI owns a large network all over the world.
ICMR	Indian Council of Medical Research	ICMR has been one among the oldest basis for many medical types of research that took place in India. The government of India established this in India to expand the research center for the welfare of India.
IDBI	Industrial Development Bank of India	A subsidiary of Reserve Bank of India (RBI).hence it is controlled and managed by RBI.
IFC	International Finance Corporation	Established in 1956. The corporation provides help to many developing countries and many other private sectors by lending them money. The number of countries that joined with IFC is 184.
IFCI	Industrial Financial Corporation of India	It is a 1948, the government set up the financial institute. Its original purpose is to provide loans for the long term and medium term to their customers.
IIP	Index of Industrial Production	It is published every month by CSO (Central Statistical Organization). It is basically an index which is used to reflect the economy conditions and also reflects the growth of Industrial unit. CSO is the controlling body of IIP.
IMF	International Monetary Fund	An International Financial Institution established in 1945. The main objective of IMF is to maintain the flow of foreign currency in the Indian market.
IRBI	Industrial Reconstruction Bank of India	Established in 1985. This bank provides small & medium sectors with the credit facilities. IRBI has enough power to work and take enough steps to remove and cure the industrial sickness.
ISDA	International Swaps & Derivatives Association	A trade association established in 1985. The role of ISDA is to observe the derivative transactions. Therefore ISDA makes a master agreement in order to notify the derivative transactions. As ISDA brings the transparency in trade so it also reduces the credit risk.
ISIC	International Standards Industrial Classification	ISIC does classify all economic activities which are productive in nature. So it collects the statistics on all these economic activities and provides it.
ISO	International Standards Organization	It was a non-governmental organization established in 1947 with 162 members. ISO defines and represents the standards to be used by the national organization.
LBS	Locational Banking Statistics	It basically helps in International Banking Business. LBS was formed in the year of 1970. It reflects the growth that EURO currency has attained in the market and also the breakdown it suffers.
LIBOR	London Interbank Offer Rate	The bank accepts these rates, at the time of fund borrowing. LIBOR is actually named as British Banker Association LIBOR or BBA LIBOR.
LERMS	Liberalized Exchange Rate Management System	This system helps to exchange the currency or to control or manage the exchange rate system.
LIC	Life Insurance Company of India	When LIC comes into the existence in 1956, many small companies merged with LIC. It is basically an investment company with its headquarter in Mumbai.
LCR	Liquidity Coverage Ratio.	LCR = HQ LAS / Net cash outflows
LRMT	Liquidity Risk monitoring Tools	It is a tool that helps to keep a check on the liquidity of risk and is considered under BASEL III.