80 Commonly Used Banking Acronyms and Their Full Form You Should Know

August 21, 2019 | Investopaper

Acronyms refer to the abbreviations formed from the initial letters. People use acronyms mainly for the ease in communication. They are popularized more than the meaning they convey. In banking, the acronyms are used frequently. Whether it may be in the products or services or communication with the customers, acronyms of the banking terms come into play. However, the public, especially in Nepal, are unaware of the full form and the meaning of such banking acronyms.

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Here, we have compiled 80 commonly used banking acronyms for your ease. It may be more helpful if are connected to the banking system in one way or another.

Commonly Used Banking Acronyms

Acronym	Full-Form
AMC	Asset Management Company
AML	Anti Money Laundering
ASBA	Application Supported By Blocked Amount
ATM	Automated Teller Machine
BAFIA	Bank And Financial Institution Act
BAFIO	Bank And Financial Institution Ordinance
BFI	Bank and Financial Institution
BIF	Bank Insurance Fraud
BOD	Board Of Directors
BOP	Balance of Payments
BOT	Balance of Trade
BSD	Bank Supervision Department
CAR	Capital Adequacy Ratio
CASA	Current And Saving Account
CBS	Core Banking Solutions
CCD	Credit To Core Capital and Deposit
CDS	Central Depository System
CEO	Chief Executive Officer
CIB	Credit Information Bureau
CICL	Credit Information Centre Limited
CIT	Citizen Investment Trust
CMD	Currency Management Department
CRM	Credit Risk Mitigation
CRR	Cash Reserve Ratio
CSB	Citizen Saving Bond
DB	Development Bond
DBSD	Development Bank Supervision Department
DBAN	Development Bankers Association of Nepal
DCGF	Deposit and Credit Guarantee Fund
DSL	Deprived Sector Lending
ECC	Electronic Cheque Clearing
EFT	Electronic Fund Transfer
ELF	Electronic Liquidity Facility
EPF	Employees Provident Fund
EPS	Earnings Per Share
FEMD	Foreign Exchange Management Department
FESB	Foreign Employment Saving Bond
FNCCI	Federation of Nepalese Chamber of Commerce and Industry
GDP	Gross Domestic Product
HRMD	Human Resource Management Department
IAD	Internal Audit Department
IBP	Intensive Banking Programme
IC	Investment Committee
ICAN	Institute of Chartered Accountants of Nepal
IFC	International Finance Corporation
IMF	International Monetary System
IPO	Initial Public Offering
IPS	Inter-Bank Payment System
IRC	Interest Rate Corridor
ITD	Information Technology Department
KYC	Know Your Customer
LC	Letter of Credit
LCR	Liquidity Coverage Ratio
ML	Money Laundering
MOF	Ministry Of Finance
NAV	Net Asset Value
NBA	Non-Banking Assets
NBA	Nepal Bankers’ Association
NCHL	Nepal Clearing House Limited
NEPS	Nepal Electronic Payment System
NEPSE	Nepal Stock Exchange
NPA	Non Performing Assets
NPL	Non-Performing Loan
NRB	Nepal Rastra Bank
NSA	Nepal Standards of Auditing
OBS	Online Bidding System
OMO	Open Market Operation
PAN	Permanent Account Number
PDMD	Public Debt Management System
POS	Point of Sales
POT	Point of Transaction
RMC	Risk Management Committee
RMU	Risk Management Unit
RWA	Risk-Weighted Assets
SAF	Structural Adjustment Facility
SCT	Smart Choice Technology
SIP	Systematic Investment Plan
SLR	Statutory Liquidity Ratio
TB	Treasury Bills
WB	World Bank