Monday, 26 June 2017

Computer Terms & Abbreviations


Computer Terms & Abbreviations

Banking Terms And Abbreviations


Banking Terms And Abbreviations

TermsFull FormsDefinitions
LAFLiquidity Adjustment FacilityBy this policy, banks are allowed through repurchase agreements to borrow money.
MCAMinistry of Company AffairsThis Ministry regulates various sectors. Arun Jaitley is the current minister of MCA.
MSFMinistry of Company AffairsIn emergency Situation this facility allows banks to borrow the required money from RBI (Reserve Bank of India).
MIBORMumbai Inter Bank Offered Rate
MISManagement Information SystemThe weaknesses and strengths of the company are measured by this system. It is just a planning tool system of the company.
MMSEMinimum Mean Squared ErrorsBasically, it is used to decrease the errors. It uses estimation to decrease the mean squared error.
NABARDNational Bank for Agriculture and Rural DevelopmentEstablished in 1982. Dr. Harsh Kumar Bhanwala is its chairman. This bank was set up for agricultural development.
NASSCOMNational Association of Software and Services CompaniesIt is a non-profit organization that was established in 1988. It has right now 1500 + members. R. Chandrasekhar is its president.
NCTCNational Counter Terrorism CentreIndian government formed this center in 2008 after Mumbai attack. It comes under IB (Intelligence Bureau). It works for handling and controlling the terrorism.
NBFCsNon Banking Finance CompaniesWhich not being a bank still act as a financial institute.
NBCNon-Banking CompaniesIt acts as a financial institute.
NEFTNational Electronic Fund TransferOne of a very effective and efficient electronic fund transfer system which started in India in 2005. Banks provides its customers with this facility with proper security for transferring the fund. The transfer limits are set at 2.5 lakhs.
NBFCNon-Banking Financial CompaniesThis type of company has no interference of any bank and government as well and above that banking license not needed.
NEERNominal Effective Exchange RateNEER represents the difference between the value of a currency with respect to another currency. So simply this is a way to compare one country’s currency with another
NFANet Foreign AssetsThis asset is equal to the balance of payment.
NFA = Current account + Valuation Effect.
NSFRNet Stable Funding RatioIt was established just ahead of the crisis that occurred in 2007 -2008.
NSFR = Available amount of stable funding / Required amount of stable funding >100%
NGONon-Government OrganizationThey are basically a Non – Profit Making Organization. In this NGOs number of countries comes together, gather money and work for nonprofit activity. The government is not supposed to take part in these activities.
NHBNational Housing BankRBI established it in 1988 under National Housing Bank act 1987. It is a financial institute for housing. It provides the house loan to the needy.
NSGNuclear Supplier GroupThis group consists of seven countries’ government who are supposed to act as participants and they all works in the direction to control the people who are an expert of the equipment, used in the manufacturing of nuclear weapons.
NPANon Performing AssetsBasically, this term is used for those financial institutes who borrowed the money are in default due to loan. Because the borrower was not able to make the payment within 90 days after the due date and then they are considered as NPA.
NSCNational Statistical CommissionThe government of India established it in 2006, to manage or handle the mistake and problems that statistical agencies make at the time of collecting data.
NSSFNational Small Savings FundThe government established this in 1999 to pool all available small resources and put them together and simplify things for that category of customers whose financial savings or household savings are small.
ODOverdraftIn this facility, companies can withdraw more money than their actual available balance in their bank accounts. This facility is provided to companies by the discretion of the bank.
ODAOfficial Development AssistanceDAC (Development Assistance Committee) formed this to measure and keep a check on the transfer of resources from place to place.
OMOOpen Market OperationsOMO is basically carried out to maintain the currency liquidity. In which central bank buys or sells bonds in the open market.
PACSPrimary Agriculture Credit SocietiesRBI established This Society in India to deal with a specific kind and level Customers (Gram Panchayat & village level).
PDAIPrimary Dealers Association of IndiaPDAI was formed under RBI by PD (Primary Dealers). It represents the market practices which develops a healthy market and are suitable for market.
PDOPublic Debt OfficePDO is a strategy for the ministry of finance for debt.
PIOPersons of Indian OriginOther than the citizens of Afghanistan, Bangladesh, Bhutan, China, Nepal, Sri Lanka and Pakistan, people can get this certificate.
POPrincipal Office