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The Indian Financial System Code (IFSC Code) is an alphanumeric code that uniquely
identifies a bank-branch participating in the two main Electronic Funds Settlement Systems in
India: the Real Time Gross Settlement (RTGS) and the National Electronic Funds Transfer
(NEFT) Systems. This is an 11-character code with the first four alphabetic characters
representing the bank name, and the last six characters (usually numeric, but can be alphabetic)
representing the branch. The fifth character is 0 (zero) and reserved for future use. IFSC Code is
used by the NEFT & RTGS systems to route the messages to the destination banks/branches.
Format of IFSC Code is mentioned below

Bank Code



Branch Code

The code consists of 11 Characters : (e.g ICIC0000438)

First 4 characters represent the entity (ICIC0000438)
Fifth position has been defaulted with a '0' (Zero) for future use (ICIC0000438)
Last 6 character denotes the branch identity (ICIC0000438)
IFSC Codes

IFSC means Indian Financial System Code. The Indian online payment systems
like NEFTand RTGS requires IFSC code to locate the branch in which transaction is to be done.
These code are directly used by RBI (Reserve Bank of India) to facilitate various interbank
transactions. A IFSC Code contains 11 characters for example ICIC0001245

Explanation of various elements of IFSC Code


The first 4 characters represent the bank or entity (ICIC0001245) In this case it is
Fifth position is right now unused and is left of future use. The default value is 0.
Last 6 characters are digits and identify the branch ( ICIC0001245 ) In this case it is
Worli, Mumbai branch of ICICI Bank
RuPay Indias answer to Visa and Mastercard

RuPay is the brand of domestic card scheme floated by National Payments

Corporation of India (NPCI). RuPay is a portmanteau word formed by the combination of Rupee
and Payment and it also sounds very similar to Hindi pronunciation of Rupees. Currently, all the
card payments are routed through Visa or MasterCard which are world leaders in this area and
these transactions are processed outside the country. After launching RuPay, the same process
will be replaced by processing within the country. In simple words, Rupay is a domestic
alternative to the global real time payment firms like Mastercard and Visa. RuPay is expected to
be used by all commercial banks after March 2012.
What exactly is happening now?
As there is no domestic card, banks do not have an option but to tie up with Visa or MasterCard
for connectivity between cardholders, merchants and issuing banks across the globe. Every
transaction done using a debit or credit card issued by a domestic bank is routed through network
switches owned by Visa or MasterCard, which are based outside the country. All these
transactions involve some charges which goes into the pockets of Visa and Mastercard for
providing these services. On an average, banks pay around Rs 300 crore every year to Visa and
MasterCard for processing all debit and credit card payments.
How Rupay works?
The Rupay initiative imposes the setting up of a network switch, which acts as a payment
gateway that connects all the ATMs and points-of-sale terminals. The domestic system will
eventually displace payment settlement providers like MasterCard and Visa.
To support financial inclusion, NPCI is offering Aadhar-enabled Rupay cards to public sector
banks for their no-frill account holders. NPCI is also in talks with state owned lenders to issue
cards to regional rural banks (RRBs). Using an Aadhar-enabled RuPay card, a customer can
withdraw money from both, normal and micro ATMs, with the help of biometric technology. So
far, NPCI has offered such cards to Bank of India, Corporation Bank and Union Bank of India.
Benefits of RuPay

Rupay will reduce the cost for both banks and customers.
Rupay will approximately charge Rs 15 per card as processing fee to a single bank
against Rs 25 of the other providers, a 40% reduction in service cost for Rupay compared with
other providers.

Issuer Identification Number (IIN)

What is Banks IIN?
IIN mean Issuer Identification Number. This number identifies the Bank to which you the
Aadhaar number is mapped. IIN is a six digit number and will be used for making AEPS
(Aadhaar Enabled Payment System) transaction. In most banks BC customer service points, this
number would be represented on the terminal by the banks logo or name and hence this number
is not to be remembered by the customer, however, it is recommended that the customer be
aware of their bank IIN to ensure a successful AEPS transaction.
Bank Name

Banks IIN

Bank of India




Union Bank of India



The term UTR No. means Unique Trasaction Reference Number and it is generally used in
association with NEFT transactions done through bank. For every successful NEFTtransaction,
your Bank will provide a UTR number (Unique Transaction Reference No.). For example, if you
do the a NEFT transaction with a branch of Union Bank of India, the Union Bank of India will
provide the UTR No. to you which can be used to track the transaction later. So, UTR number is
a unique code for identifying the NEFT transaction.

Swift Codes for Banks in India

Swift Code (also called SWIFT-BIC, BIC code, SWIFT ID) is a standard format of Business
Identifier Codes (BIC). It is used in international payment transactions and this code is issued by
the Society for Worldwide Interbank Financial Telecommunication (SWIFT) to banks which
enables banks worldwide to be identified without the need to specify an address or bank number.
These swift codes are used when transferring money between banks, generally for international
wire transfers. You can find the Swift Codes for banks in india which can be used to transfer
money from abroad to India. Please verify the code with the bank before making any transaction.
IMPS Interbank Mobile Payment Service
Interbank Mobile Payment Service (IMPS) is an instant interbank electronic fund transfer service
through mobile phones. IMPS facilitate customers to use mobile instruments as a channel for
accessing their banks accounts and remitting funds therefrom. Various banks are providing
remittance facility through their mobile banking platforms. The interbank remittance request

initiated from a mobile is processed by the beneficiary bank as a National Electronic Fund
Transfer (NEFT) transaction. The status of such payment request is therefore not known instantly
because NEFT payments are processed in batches from 9 am to 7 pm. The NEFT transactions are
charged by banks and charges vary from bank to bank
Mobile Money Identifier (MMID) is a seven digit random number issued by the bank upon
registration. Remitter (customer who wants to send money) and Beneficiary (customer who
wants to receive the money) should have this MMID for doing this interbank funds transfer.

Banks Recurring Deposit Schemes

Recurring deposit account is generally opened for a purpose to be served at a future date.
Generally it is opened to finance pre-planned future purposes like, wedding expenses of
daughter, purchase of costly items like land, luxury car and refrigerator or air conditioner.
Eligibility of Recurring Deposit account
Recurring deposit account is opened by those who want to save regularly for a certain period of
time and earn a higher interest rate. Recurring Deposit scheme is offered by almost all banks (RD
schemes of SBI, PNB, ICICI Bank, HDFC Bank, IDBI Bank, Bank of India, Bank of Baroda,
Corporation Bank) in one form or the other. Recurring Deposit is very popular among the
salaried class, especially who can afford to save only few hindered or say few thousand rupees
per month.
This scheme is a boon for people who do not have a large amount of savings and thus cannot use
the Fixed Deposit scheme of the banks. Under this scheme, the customer deposits a minimum
amount (normally fixed) every month and bank pays the interest at the pre-determined rates
(which is usually the same as applicable to fixed deposits).
At the end of the period i.e. on maturity date, the customer is paid the maturity value i.e.
principle deposited and the interest payable. In recurring deposit account certain fixed amount is
accepted every month for a specified period and the total amount is repaid with interest at the
end of the particular fixed period.
Features of Recurring Deposit Account
The main features of recurring deposit account are as follows: The main objective of recurring deposit account is to develop regular savings habit among the
In India, minimum amount that can be deposited is Rs.10 at regular intervals.
The period of deposit is minimum six months and maximum ten years.
Higher rate of interest is charged by the bank.

No withdrawals are allowed. However, the bank may allow closing the account before the
maturity period.
The bank provides the loan facility. The loan can be given up to 75% of the amount standing to
the credit of the account holder.
Advantage of Recurring Deposit Account
The advantages of recurring deposit account are as follows:1. Recurring deposit encourages regular savings habit among the people.
2. Recurring deposit account holder can get a loan facility.
3. The bank can utilize such funds for lending to businessmen.
4. The bank may also invest such funds in profitable areas.

Demat Account in Banks

Demat account is short form of dematerialised account. Demat account is similar to a bank
account where real money is replaced by shares. Just like a bank account is required to save
money or make cheque payments, we need a demat account in order to buy or sell shares. A
Demat Account holds portfolio of shares in electronic form and removes the need of holding
shares in physical form. The account offers a secure and convenient way to keep track of shares
and investments without the hassle of handling physical documents that get mutilated or lost in
Lets assume you have 100 shares of ICICI bank, 50 shares of Axis Bank, 100 shares of SBI.
These shares will be shown in your demat account and you can trade them at any time without
any physical paperwork or delivery through exchanges like NSE and BSE.
Is it necessary to have a demat account?
The Securities and Exchange Board of India (SEBI) mandates a demat account for share trading
involving more than 500 shares.
Main Benefits of Demat Account

Reduces brokerage charges

Eliminates risks associated with physical certificates such as bad delivery, fake securities,
delays, forgery, counterfeiting, thefts and loss due to fire.
Reduction in paperwork involved in transfer of securities
Enables quick ownership of securities on settlement thereby resulting in increased
There is no odd lot problem. Even one share can be bought or sold.


Demat account obviates the need to pay stamp duty (in case of physical shares, 0.5 per
cent stamp duty is payable).
Pledging/Hypothecation of shares is easier
How to open a Demat Account
You can open a demat account with a bank or a depository participant (DP). Banks usually give
preference to those customers who have a savings or current account with the bank. Most of the
banks provide demat accounts to their customers. However, banks usually charge higher
brokerage than the regular brokerage houses. Following documents are required to open a demat

Identity proof
Address proof
Copy of PAN card (mandatory)
2-3 Photographs of the applicant.
Cancelled MICR cheque for bank account linking
How to dematerialise physical shares
For dematerialization of physical share certificate(s) you have to first fill the demat request form
(DRF). The form can be obtained from the DP with whom your demat account is opened. Deface
the share certificate(s) by writing across Surrendered for dematerialisation. Submit the DRF &
share certificate(s) to DP. DP would forward them to the issuer. After dematerialisation, your
depository account would be credited with the dematerialised securities. It is quite a simple
process and is taken care by most of the good brokerage houses.

Fixed Deposits in Banks

Bank Fixed Deposits are also called Term Deposits in India. Popularly, it is just called Bank
FD or simply FD.In a Fixed Deposit Account, a certain sum of money is deposited in the bank
for a fixed time period with a fixed rate of interest and hence it is called a fixed deposit. The rate
of interest for Bank Fixed Deposits depends on the maturity period or the term period. It is
higher in case of longer maturity period but nowadays sometimes banks offer higher rates for
certain shorter periods also to be more liquid/cash rich at the end of year etc. There are large
number of options in maturity period and it ranges from 15days to 5 years. The interest rate can
be compounded quaterly, half-yearly or annually and varies from bank to bank. There is no upper
limit but most banks have minimum deposit amount of Rs 1000/- . Most banks also offer loan /
overdraft facility against fixed deposits. Premature withdrawal is permissible but it involves loss
of some interest and some extra fees.
Things You Should Remember/Ask Before Opening a FD Account








Before opening a fixed deposit account

Check the financial position of the bank. Try to go for the most popular/big banks.
Try to check the rates of interest for different banks for different periods.
Always check for the fees for early withdrawal. Also, instead of putting a big amount in
one fixed deposit, keep the amount in five or ten small deposits. This way, in case of any
premature withdrawal of partial amount, then only one or two deposits may need to be
prematurely encashed. Thus, the loss of interest will be less than if a single big deposit were to
be encashed.
Check deposit receipts carefully to ensure that all details have been properly and
accurately filled in. Do not leave the renewal column unfilled. Otherwise, on maturity the fixed
deposit amount will go back into an FD.
Before investing in a FD it is important to consider the rate of interest and the inflation
rate. A high inflation rate can eat into your real returns. So, it is vital to have a look at the
inflation rate before arriving at the real rate of interest.
Advantages of Fixed Deposit
Safety: Fixed deposits with the banks in india are nearly 100% safe as all the banks
operating in the country, whether nationalised, private, or foreign, are governed by the RBIs
rules and regulations which are among the most stringent rules in the world. Till recently, all
bank deposits were insured under the Deposit Insurance & Credit Guarantee Scheme of India,
which has now been made optional. Nonetheless, bank fixed deposits are among the safest
modes of investment.
Loans against FD: You can also get loans up to 75- 90% of the deposit amount from
banks against fixed deposit receipts. Please note that the interest charged will be slightly more
than the interest earned by the deposit but this option can be availed if you need loan for a
shorter period.
Tax Implications
Fixed Deposits (FDs) with a maturity period of 5 years or more in a Scheduled bank is
eligible for tax deduction under section 80C. However, the interest earned on the deposit is
Tax will be deducted at the source (TDS), if the interest income on a fixed deposit (FD)
per annum exceeds Rs.10000.
How To Open a Bank Fixed Deposit Account
You can open a Fixed Deposit(FD) account with any bank, be it nationalized, private or foreign
and make the deposit. However, some banks insist that you open a savings account with them to
operate a FD.
What is Mobile Money?
Mobile payment is completely a different domain and generally refers to payment of services
operated under financial regulation and performed from or via a mobile device. It is also referred
to as mobile money, mobile banking, mobile money transfer and mobile wallet.

Mobile payment is an alternative payment method. Instead of paying with cash, check, or credit
cards, a consumer can use a mobile phone to pay for a wide range of services and digital or hard
goods such as:

Music, videos, ringtones, online game subscription or items, wallpapers and other digital

Transportation fare (bus, subway or train), parking meters and other services
Books, magazines, tickets and other hard goods.
The primary benefit of mobile money is the empowerment of such segments of people who
doesnt have their bank accounts. They can start using this facility by registering with the entity
by fulfilling the KYC (Know your customer) norms.
This service has been already successful in Indonesia, Kenya, Japan, Africa etc. but inIndia this
system has not yet received encouraging response because of many reasons, some of them are:

The key obstacles faced for full deployment of mobile money in India is theConsumer
Because of adjustment with the current ecosystem as it is not ready to accept such
Also mainly due to the Regulatory restrictions of the Government. Though these
restrictions has been removed to some extent but that too on conditional basis.
There is one more hurdle that the other party to whom the payment is to be made doesnt
have this mobile facility.
According to current figures, around 90% of people in India make cash payments for their
purchases. All business and finance people is looking it as a positive sign because they believe
these transactions can be made with the help of mobile phones as many people dont have debit
cards, credit cards or even bank accounts. Current figures also reveal that 240 million people in
India have bank accounts and on the other hand 990 million people have mobile phones. So, its
a good opportunity for the business and finance people.
Nowadays approximately around 3% of the population of India uses mobile as a wallet but it is
expected that this percentage of people using mobile as a wallet facility will grow to 20-25% in
next 2-3 years.
Current trends in Mobile money:
In India, a partnership model is evolving where banks, telecom operators and other service
providers are expected to work together that will help in proliferation of mobile money services.

This model is expected to tie in technology, distribution, and other pieces and enable the
ecosystem to grow that will ultimately benefit the consumer.
Further, from a technology standpoint, Near Field Communication (NFC) in which a mobile and
a merchant (where the customer has to pay) device can talk in a closed area of network where
there is no need for internet facility. This NFC is expected to revolutionize the way proximity
payments are conducted. Consumers can make payments with the simple tap of their mobile
phones, very much like a credit/debit card. Consumers will no longer be required to carry their
wallet for making payments. Another way is that this facility can be used with the help of SMS
(short messaging service) so here also there is no need for internet facility.
Airtel has launched a new service Airtel Money. With the help of Airtel Money one can easily
get money into your mobile. To use Airtel Money you have to register for it. One will be asked to
choose a mPin which will be needed to make the transfer of money. This facility is available
across 300 key cities in India, airtel money is a fast, simple and secure service that allows its
users to load cash on their mobile devices and spend it to pay utility bills and recharges, shop at
7,000-plus merchant outlets and transact online,
One should not set mPins which can be guessed easily (like your house number/ year of birth/
1111 etc) since every transaction in ones account is authenticated by this mPin.
Best part of recharging mobile by Airtel money is that one gets 5% cash back. Many other
companies are offering discount on paying bills by Airtel Money.
One can easily pay Airtel Bill, recharge the friends airtel mobile, and pay BSNL and MTNL
bills and purchase tickets for movies. Also one can even deposit money to any bank account. It
takes only 1 business day to get cash into Bank account for which money is deposited.
To register a account for Airtel Money one should be 18 years old .One person can have only one
Airtel Money account.
There are three types of accounts under the Airtel Money service
Express account;
Under the Express service, pay for all utilities including:
a) Airtel prepaid mobile and digital TV recharge.
b) Airtel mobile and fixed line bills.
c) Electricity, gas, insurance etc.
Load cash and spend up to Rs 10000 daily*
*Airtel customers all over India except Jammu and Kashmir can register for express account.

Power account;
Under Power Account, pay for all airtel money services including:
a) Utilities (all express account features)
b) Movie tickets
c) Restaurants, spas and shopping.
Load Cash and spend up to Rs. 50,000 daily*
*Transactions done by dialing *400# have a limit of Rs 5,000 per transaction.
*Airtel customers all over India (except Jammu and Kashmir) can register for power account.
Super account:
Under Super Account:
a) Send and receive money from other airtel money super account customers.
b) Withdraw money from any airtel money- super account outlet.
c) Earn interest on balance amount @ 4% p.a.
Load cash, send and withdraw upto Rs. 25000 daily*
This account will be available only in Mumbai, Delhi, Bihar and Uttar Pradesh.

CBS Core Banking Solution

What is Core Banking Solution (CBS) ?
Core Banking Solution (CBS) is networking of branches, which enables Customers to operate
their accounts, and avail banking services from any branch of the Bank on CBS network,
regardless of where he maintains his account. The customer is no more the customer of a Branch.
He becomes the Banks Customer. Thus CBS is a step towards enhancing customer convenience
through Anywhere and Anytime Banking.
How shall CBS help Customers?
All CBS branches are inter-connected with each other. Therefore, Customers of CBS branches
can avail various banking facilities from any other CBS branch located any where in the world.
These services* are:

To make enquiries about the balance; debit or credit entries in the account.
To obtain cash payment out of his account by tendering a cheque.
To deposit a cheque for credit into his account.
To deposit cash into the account.
To deposit cheques / cash into account of some other person who has account in a CBS


To get statement of account.

To transfer funds from his account to some other account his own or of third party,
provided both accounts are in CBS branches.
To obtain Demand Drafts or Bankers Cheques from any branch on CBS amount shall
be online debited to his account.
Customers can continue to use ATMs and other Delivery Channels, which are also
interfaced with CBS platform.
Certificate of Deposit in India
CDs are negotiable money market instrument issued in demat form or as a Usance Promissory
Notes. CDs issued by banks should not have the maturity less than seven days and not more than
one year. Financial Institutions are allowed to issue CDs for a period between 1 year and up to 3
CDs are like bank term deposits but unlike traditional time deposits these are freely negotiable
and are often referred to as Negotiable Certificates of Deposit. CDs normally give a higher return
than Bank term deposit. CDs are rated by approved rating agencies (e.g. CARE, ICRA, CRISIL,
and FITCH) which considerably enhance their tradability in the secondary market, depending
upon demand. SBI DFHI is an active player in secondary market of CDs.
Features of CD

All scheduled banks (except RRBs and Co-operative banks) are eligible to issue CDs.
They can be issued to individuals, corporations, trusts, funds and associations.
NRIs can also subscribe to CDs, but on non-repatriable basis only. In secondary market
such CDs cannot be endorsed to another NRI.
They are issued at a discount rate freely determined by the issuer and the
CDs issued in physical form are freely transferable by endorsement and delivery.
Procedure of transfer of dematted CDs is similar to that of any other demat securities.
For CDs there is no lock-in period.

CDs are issued in denominations of Rs.1 Lac and in the multiples of Rs. 1 Lac thereafter.
Discount/Coupon rate of CD is determined by the issuing bank/FI.Loans cannot be granted
against CDs and Banks/FIs cannot buy back their own CDs before maturity.

What is a Nostro Account?

Ans. A Nostro account is a bank account established in a foreign country usually in the currency
of that country for the purpose of carrying out transactions there. For example most commercial
banks maintain US dollar accounts with their correspondent banks in USA in order to facilitate
settlement of interbank and customer transactions in US dollar.

Gilt Funds
Gilt funds, as they are conveniently called, are mutual fund schemes floated by asset
management companies (AMCs) with exclusive investments in government securities. The
schemes are also referred to as mutual funds dedicated exclusively to investments in government
securities. Government securities mean and include central government dated securities, state
government securities and treasury bills. The gilt funds provide to the investors the safety of
investments made in government securities and better returns than direct investments in these
securities through investing in a variety of government securities yielding varying rate of returns
gilt funds, however, do run the risk.. The first gilt fund in India was set up in December 1998.
Facilities from Reserve Bank of India
The Reserve Bank provides liquidity support and other facilities, such as, SGL and current
accounts, transfer of funds through the Reserve Banks Remittance Facility Scheme and access to
call money market to dedicated gilt funds. These facilities are provided to encourage gilt funds to
create a wider investor base for government securities market. The facilities provided to gilt
funds include:
i. Liquidity support: The objective of extending liquidity support to dedicated gilt funds is to
support short-term liquidity requirements of such mutual funds. The Reserve Bank of India
provides liquidity support to gilt funds by way of reverse repurchase agreements (reverse repos).
Reverse repos are done in government of India dated securities eligible for repo transactions and
treasury bills of all maturities. The quantum of liquidity support on any day is up to 20 per cent
of the outstanding stock of government securities, including treasury bills, held by the gilt funds
as at the end of the previous working day.

ii.SGL and current accounts: The Reserve Bank opens one subsidiary general ledger (SGL)
account and one current account for gilt funds own transactions at all centers of the Reserve
Bank wherever desired by the gilt funds.
iii. Funds transfer facility: The gilt funds are given the facility of transfer of funds from one
center to another under the Remittance Facility Scheme of the Reserve Bank. The gilt funds are
also given the facility of clearing of cheques arising out of government securities transactions,
tendered at the Reserve Bank counters.
iv.Access to call market: Gilt funds can access the call money market as lenders.
v. Ready forwards: The Reserve Bank of India will also recommend to the Government of India
to permit the gilt funds to undertake ready forward transactions in Government securities market.

Electronic Clearing Service (ECS), India

Q.1. What is Electronic Clearing Service (ECS)?
Ans : ECS is an electronic mode of payment / receipt for transactions that are repetitive and
periodic in nature. ECS is used by institutions for making bulk payment of amounts towards
distribution of dividend, interest, salary, pension, etc., or for bulk collection of amounts towards
telephone / electricity / water dues, cess / tax collections, loan installment repayments, periodic
investments in mutual funds, etc. Essentially, ECS facilitates bulk transfer of monies from one
bank account to many bank accounts or vice versa using the services of a ECS Centre at a ECS
Q.2. What are the variants of ECS? In what way are they different from each other?
Ans : Primarily, there are two variants of ECS ECS Credit and ECS Debit.
ECS Credit is used for affording credit to a large number of beneficiaries having accounts with
bank branches at various locations within the jurisdiction of a ECS Centre by raising a single
debit to an account of a bank (that maintains the account of the user institution). ECS Credit
enables payment of amounts towards distribution of dividend, interest, salary, pension, etc., of
the user institution.
ECS Debit is used for raising debits to a large number of accounts maintained with bank
branches at various locations within the jurisdiction of a ECS Centre for single credit to an
account of a bank (that maintains the account of the user institution). ECS Debit is useful for
payment of telephone / electricity / water bills, cess / tax collections, loan installment

repayments, periodic investments in mutual funds, etc., that are periodic or repetitive in nature
and payable to the user institution..

Exchange torned, soiled, mutilated and damaged Banknotes

This FAQ describes how and where to exchange torned, soiled, mutilated and damaged
What are soiled, mutilated and imperfect banknotes?
(i) Soiled banknotes are banknotes, which have become dirty and limp due to excessive use. A
single numbered banknote cut into two pieces but on which the number is intact is now treated as
soiled banknote. A double numbered banknote cut into two pieces but on which both the numbers
are intact is now treated as soiled banknote.
(ii) Mutilated banknote is a banknote, of which a portion is missing or which is composed of
more than two pieces.
(iii) Imperfect banknote means any banknote, which is wholly or partially, obliterated, shrunk,
washed, altered or indecipherable but does not include a mutilated banknote.
Can soiled and mutilated banknotes be exchanged for value?
Yes. Such banknotes can be exchanged for value.
Where are soiled/mutilated banknotes accepted for exchange?
All banks are authorized to accept soiled banknotes for full value. They are expected to extend
the facility of exchange of soiled notes even to non-customers. All currency chest branches of
commercial banks are authorised to adjudicate mutilated banknotes and pay value for these, in
terms of the Reserve Bank of India (Note Refund) Rules, 2009
How much value would one get in exchange of soiled banknotes?
Soiled banknotes are exchanged for full value.
How much value would one get in exchange of mutilated banknotes?
A mutilated banknote can be exchanged for full value if,

(i) For denominations of Re. 1, Rs. 2, Rs. 5, Rs. 10 and Rs. 20, the area of the single largest
undivided piece of the note presented is more than 50 percent of the area of respective
denomination, rounded off to the next complete square centimeter.
(ii) For denominations of Rs. 50, Rs.100, Rs. 500 and Rs. 1000, the area of the single largest
undivided piece of the note presented is more than 65 percent of the area of respective
denomination, rounded off to the next complete square centimetre.
Banknotes in denominations of Re. 1, Rs. 2, Rs. 5, Rs. 10 and Rs. 20, cannot be exchanged for
half value.
A mutilated banknote in denominations of Rs.50, Rs.100, Rs.500 or Rs.1000, can be exchanged
for half value if,
The undivided area of the single largest piece of the note presented is equal to or more than 40
percent and less than or equal to 65 percent of the area of respective denomination, rounded off
to the next complete square centimetre.
How much value would one get in exchange of imperfect banknotes?
The value of an imperfect note may be paid for full value / half value under rules as specified for
mutilated notes if,
(i) the matter, which is printed on the note has not become totally illegible, and
(ii) it can be satisfied that it is a genuine note.
Major Investment Banks in India
An investment bank is a financial institution that assists individuals, corporations and
governments in raising capital by underwriting and/or acting as the clients agent in the issuance
of securities eg: IPO/ FPO work is handled by investment banks. An investment bank also assist
companies in mergers and acquisitions, and provide ancillary services such as market making,
trading of derivatives, fixed income instruments, foreign exchange, commodities, and equity
The following is the list of major indian investment banks based out of India.
Avendus is an investment bank based in India with offices in Mumbai and Bangalore. The firm
was founded in 1999 by three investment bankers Ranu Vohra, Gaurav Deepak and Kaushal
Kumar, who had worked for large global financial institutions and wanted to offer knowledge

and research oriented capital raising and M&A solutions to international firms with a strong
India connection.
website url :
Bajaj Capital
Bajaj Capitals Investment Banking Service is a step ahead in that direction.Bajaj Capital offers
you unparalleled capital raising solutions for your business. With over 120 offices in 50 cities all
over the country and a network of over 10,000 Advisor Associates, we can connect you to
potential investors all over the country.
website url :
Barclays India
Barclays unveiled its Global Retail and Commercial Banking division in India over the past year
as part of its plan to be a leading global bank. In a very short time, Barclays is already making
waves in one of the worlds fastest growing countries.
web site url :
Cholamandalam Investment & Finance Company
Cholamandalam Investment & Finance Company Limited is the financial services arm of the
USD 880 million Murugappa Group. Incorporated in 1978, it is one of the leading Financial
Services Company in the country. The products and services include vehicle finance, capital
market finance, mutual funds, securities broking, depository services, and insurance and
distribution services.
web site url :
ICICI Securities Ltd
A subsidiary of ICICI Bank the largest and most recognized private bank in India ICICI
Securities Ltd is premier Indian Investment Bank, with a dominant position in its core segments
of its operations Corporate Finance including Equity Capital Markets Advisory Services,
Institutional Equities, Retail and Financial Product Distribution.
web site url :
ICRA Limited
ICRA Limited (an Associate of Moodys Investors Service) was incorporated in 1991 as an
independent and professional company. ICRA is a leading provider of investment information
and credit rating services in India. ICRAs major shareholders include Moodys Investors Service
and leading Indian financial institutions and banks.
web site url :
IDFCs mission is to be the financier and advisor of choice for infrastructure in India. IDFC is

positioned as a special financial institution which is focused on project finance and investment
banking activities in infrastructure. Going forward, IDFC will focus on establishing stable fee
revenues from innovative infrastructure initiatives in financial markets, asset management,
project development and advisory along with growing its balance sheet at a significant pace.
web site url :
IDFC Private Equity
IDFC Private Equity (IDFC PE) was set up in 2002 as a 100% subsidiary of the Infrastructure
Development Finance Company (IDFC). IDFC PE manages two funds with a current corpus of
INR 1,734 crore (USD 400 million). India Development Fund and IDFC Private Equity Fund
II. Both these funds provide growth capital to promising enterprises in the area of infrastructure
in India.
web site url :
Industrial Development Bank of India
The Industrial Development Bank of India (IDBI) was established in 1964 under an Act of
Parliament. It was initially set up as a wholly owned subsidiary of the Reserve Bank of India
(RBI) with a mandate of providing credit and other facilities for balanced industrial
development. In 1976, the ownership of IDBI was transferred to the Government of India and it
was accorded the status of principal financial institution in the country for co-ordinating the
working of institutions, engaged in financing, promoting and developing industry, and also
assisting in the development of such institutions. Following amendment to IDBI Act in October
1994 to permit public ownership up to 49% of its issued capital, IDBI went in for a public issue
in July 1995. The shareholding of Government of India in IDBI currently stands at 58.47%.
web site url :
Industrial Finance Corporation of India (IFCI)
IFCI, the first Development Finance Institution in India, was set up in 1948, as a Statutory
Corporation, to pioneer institutional credit to medium and large industries IFCI was also the first
institution in the financial sector to be converted into a Public Limited Company. IFCIs record
of performance has broadly run parallel to the course of industrial and economic development of
the nation. IFCIs principal operations include Project financing, Financial services &
Comprehensive corporate advisory services.
web site url :
Kotak Investing Banking
Kotak Mahindra Capital Company (KMCC) helps leading Indian corporations, banks, financial
institutions and government companies access domestic and international capital markets.
KMCC has the most current understanding of investor appetite, having been the leading book
runner/lead manager in public equity offerings in the period FY 2002-06.
web site url :

Kotak Mahindra Capital Company

As a full service Investment Bank, Kotak Investment Bankings core business areas include
Equity Issuances, Mergers & Acquisitions, Advisory Services and Fixed Income Securities and
Principal Business.
web site url :
SBI Capital Markets
SBI Capital Markets Ltd. is amongst the oldest players in the Indian Capital Market, offering an
entire range of Investment Banking Services. With strong fund mobilization strengths, we are
one of the leading players in the areas of fund raising through Capital Market Issues / Private
web site url :
S.E Investments Limited
SEILs philosophy on corporate governance envisages commitment to ensure customer
satisfaction through better services. The company is committed to good corporate governance &
continuously reviews various relationship measures with a view to enhance shareholders value.
SEILprovides detailed information on various issues concerning the companys business and
financial performance. SEIL respects the rights of its share holders to information on
performance of the company and believes that the best corporate governance promotes
transparency and helps mitigate the risks associated with the business.
web site url :
Small Industries Development Bank of India
Small Industries Development Bank of India (SIDBI) was established in April 1990 under an Act
of Indian Parliament. SIDBI has completed 12 years of service to the small scale sector.
Consequent upon, amendment in the SIDBI Act, the Bank has been delinked from SIDBI with
effect from March 27, 2000. The SIDBI (Amendment) Act, 2000 has changed the provisions
relating to capital structure, share holding pattern, management, business, borrowings, etc. The
amended Act provides for divesting of 51% of the equity share capital of Rs.4.5 billion
Subscribed and held by IDBI in favour of Life Insurance Corporation of India, General Insurance
Corporation of India, Public Sector Banks and other Institutions owned or controlled by the
Government of India.
web site url :
SSKI Group
SSKI is a leading India-based financial services group that offers Institutional Equities and
Investment Banking services. SSKI Investment Banking is a full-service investment bank with a
strong research bias. Our team members bring deep domain knowledge, spanning a number of
sectors, that we are able to leverage to meet the varied corporate finance needs of our clients. We
provide a full range of services, from private placements of equity and debt, public offerings,

project advisory to mergers and acquisitions.

web site url :
Tata Investment Corporation Limited (TICL)
TICL is a non-banking financial company (NBFC) registered with the Reserve Bank of India
under the Investment Company category. The companys activities comprise primarily of
investing in long-term investments in equity shares and other securities of companies in a wide
range of industries. The major sources of income for the company consist of dividend income
and profit on sale of investments.
web site url :
UTI Securities Ltd
UTI Securities Ltd., was promoted as an independant professional entity in June 1994. With the
repealing of Unit Trust of India (UTI) Act, the entire share capital of UTISEL is now held by
Administrator of specified undertaking of Unit Trust of India since 1st February 2003. UTISEL
has been providing all kinds of Investment related activities which include investment banking
and corporate advisory services.
web site url :
Yes Bank
Yes Banks Investment Banking group is involved in the identification, structuring and execution
of transactions for our clients in diverse industries and geographies. Some of the typical
transactions include mergers & acquisitions, divestitures, private equity syndication and IPO

What is a currency chest?

To facilitate the distribution of banknotes and rupee coins, the Reserve Bank has authorised
select branches of scheduled banks to establish currency chests. These are actually storehouses
where banknotes and rupee coins are stocked on behalf of the Reserve Bank. As on December
31, 2013, there were 4209 currency chests. The currency chest branches are expected to
distribute banknotes and rupee coins to other bank branches in their area of operation.
What is a small coin depot?
Some bank branches are authorised to establish Small Coin Depots to stock small coins i.e. coins
below Rupee one. The Small Coin Depots also distribute small coins to other bank branches in
their area of operation. As on December 31, 2013, there were 3966 small coin depots.
Soiled and Mutilated Banknotes

What are soiled, mutilated and imperfect banknotes?

(i) "soiled note:" means a note which, has become dirty due to usage and also includes a two
piece note pasted together wherein both the pieces presented belong to the same note, and form
the entire note.
(ii) Mutilated banknote is a banknote, of which a portion is missing or which is composed of
more than two pieces.
(iii) Imperfect banknote means any banknote, which is wholly or partially, obliterated, shrunk,
washed, altered or indecipherable but does not include a mutilated banknote.
Can soiled and mutilated banknotes be exchanged for value?
Yes. Such banknotes can be exchanged for value.
Where are soiled/mutilated banknotes accepted for exchange?
All banks are authorized to accept soiled banknotes for full value. They are expected to extend
the facility of exchange of soiled notes even to non-customers. All branches of commercial banks
are authorised to adjudicate mutilated banknotes and pay value for these, in terms of the Reserve
Bank of India (Note Refund) Rules, 2009
What is a Non-Banking Financial Company (NBFC)?
A Non-Banking Financial Company (NBFC) is a company registered under the Companies Act,
1956 engaged in the business of loans and advances, acquisition of
shares/stocks/bonds/debentures/securities issued by Government or local authority or other
marketable securities of a like nature, leasing, hire-purchase, insurance business, chit business
but does not include any institution whose principal business is that of agriculture activity,
industrial activity, purchase or sale of any goods (other than securities) or providing any services
and sale/purchase/construction of immovable property. A non-banking institution which is a
company and has principal business of receiving deposits under any scheme or arrangement in
one lump sum or in installments by way of contributions or in any other manner, is also a nonbanking financial company (Residuary non-banking company).
2. NBFCs are doing functions similar to banks. What is difference between banks & NBFCs
NBFCs lend and make investments and hence their activities are akin to that of banks; however
there are a few differences as given below:

i. NBFC cannot accept demand deposits;

ii. NBFCs do not form part of the payment and settlement system and cannot issue cheques
drawn on itself;
iii. deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation is not
available to depositors of NBFCs, unlike in case of banks.
What are the different types/categories of NBFCs registered with RBI?
NBFCs are categorized a) in terms of the type of liabilities into Deposit and Non-Deposit
accepting NBFCs, b) non deposit taking NBFCs by their size into systemically important and
other non-deposit holding companies (NBFC-NDSI and NBFC-ND) and c) by the kind of
activity they conduct. Within this broad categorization the different types of NBFCs are as

Asset Finance Company(AFC) : An AFC is a company which is a financial institution

carrying on as its principal business the financing of physical assets supporting
productive/economic activity, such as automobiles, tractors, lathe machines, generator
sets, earth moving and material handling equipments, moving on own power and general
purpose industrial machines. Principal business for this purpose is defined as aggregate of
financing real/physical assets supporting economic activity and income arising therefrom
is not less than 60% of its total assets and total income respectively.


Investment Company (IC) : IC means any company which is a financial institution

carrying on as its principal business the acquisition of securities,


Loan Company (LC): LC means any company which is a financial institution carrying
on as its principal business the providing of finance whether by making loans or advances
or otherwise for any activity other than its own but does not include an Asset Finance


Infrastructure Finance Company (IFC): IFC is a non-banking finance company a)

which deploys at least 75 per cent of its total assets in infrastructure loans, b) has a
minimum Net Owned Funds of Rs. 300 crore, c) has a minimum credit rating of A or
equivalent d) and a CRAR of 15%.


Systemically Important Core Investment Company (CIC-ND-SI): CIC-ND-SI is an

NBFC carrying on the business of acquisition of shares and securities which satisfies the
following conditions:(a) it holds not less than 90% of its Total Assets in the form of investment in equity

shares, preference shares, debt or loans in group companies;

(b) its investments in the equity shares (including instruments compulsorily convertible
into equity shares within a period not exceeding 10 years from the date of issue) in group
companies constitutes not less than 60% of its Total Assets;
(c) it does not trade in its investments in shares, debt or loans in group companies except
through block sale for the purpose of dilution or disinvestment;
(d) it does not carry on any other financial activity referred to in Section 45I(c) and 45I(f)
of the RBI act, 1934 except investment in bank deposits, money market instruments,
government securities, loans to and investments in debt issuances of group companies or
guarantees issued on behalf of group companies.
(e) Its asset size is Rs 100 crore or above and
(f) It accepts public funds

Infrastructure Debt Fund: Non- Banking Financial Company (IDF-NBFC) : IDFNBFC is a company registered as NBFC to facilitate the flow of long term debt into
infrastructure projects. IDF-NBFC raise resources through issue of Rupee or Dollar
denominated bonds of minimum 5 year maturity. Only Infrastructure Finance Companies
(IFC) can sponsor IDF-NBFCs.


Non-Banking Financial Company - Micro Finance Institution (NBFC-MFI): NBFCMFI is a non-deposit taking NBFC having not less than 85%of its assets in the nature of
qualifying assets which satisfy the following criteria:
a. loan disbursed by an NBFC-MFI to a borrower with a rural household annual income
not exceeding Rs. 60,000 or urban and semi-urban household income not exceeding Rs.
b. loan amount does not exceed Rs. 35,000 in the first cycle and Rs. 50,000 in subsequent
c. total indebtedness of the borrower does not exceed Rs. 50,000;
d. tenure of the loan not to be less than 24 months for loan amount in excess of Rs.
15,000 with prepayment without penalty;
e. loan to be extended without collateral;

f. aggregate amount of loans, given for income generation, is not less than 75 per cent of
the total loans given by the MFIs;
g. loan is repayable on weekly, fortnightly or monthly instalments at the choice of the

Non-Banking Financial Company Factors (NBFC-Factors): NBFC-Factor is a nondeposit taking NBFC engaged in the principal business of factoring. The financial assets
in the factoring business should constitute at least 75 percent of its total assets and its
income derived from factoring business should not be less than 75 percent of its gross

Q. No. 1: How many types of cards are available to a customer?

Ans: Cards can be classified on the basis of their issuance, usage and payment by the card holder.
There are three types of cards (a) debit cards (b) credit cards and (c) prepaid cards.
Q. No. 2: Who issues these cards?
Ans: Debit cards are issued by banks and are linked to a bank account. Credit cards are issued by
banks / other entities approved by RBI. The credit limits sanctioned to a card holder is in the
form of a revolving line of credit (similar to a loan sanctioned by the issuer) and may or may not
be linked to a bank account. Prepaid cards are issued by the banks / non-banks against the value
paid in advance by the cardholder and stored in such cards which can be issued as smart cards or
chip cards, magnetic stripe cards, internet accounts, internet wallets, mobile accounts, mobile
wallets, paper vouchers, etc.
Q. No. 3: What are the usages of debit cards?
Ans: The debit cards are used to withdraw cash from an ATM, purchase of goods and services at
Point of Sale (POS)/E-commerce (online purchase) both domestically and internationally
(provided it is enabled for international use). However, it can be used only for domestic fund
transfer from one person to another.
Q. No. 4: What are the usages of credit cards?
Ans: The credit cards are used for purchase of goods and services at Point of Sale (POS) and Ecommerce (online purchase)/ through Interactive Voice Response (IVR)/Recurring transactions/
Mail Order Telephone Order (MOTO). These cards can be used domestically and internationally

(provided it is enabled for international use). The credit cards can be used to withdraw cash from
an ATM and for transferring funds to bank accounts, debit cards, credit cards and prepaid cards
within the country.
Q. No. 5: What are the usages of prepaid cards?
Ans: The usage of prepaid cards depends on who has issued these cards. The prepaid cards
issued by the banks can be used to withdraw cash from an ATM, purchase of goods and services
at Point of Sale (POS)/E-commerce (online purchase) and for domestic fund transfer from one
person to another. Such prepaid cards are known as open system prepaid cards. However, the
prepaid cards issued by authorised non-bank entities can be used only for purchase of goods and
services at Point of Sale (POS)/E-commerce (online purchase) and for domestic fund transfer
from one person to another. Such prepaid cards are known as semi-closed system prepaid cards.
These cards can be used only domestically.
Q. No. 6: Is there any limit on the value stored in a prepaid card?
Ans: Yes, as per extant instructions, the maximum value that can be stored in any prepaid card
(issued by banks and authorised non-bank entities) at any point of time is Rs 50,000/-

Q1. What is RTGS System?

Ans. The acronym 'RTGS' stands for Real Time Gross Settlement, which can be defined as the
continuous (real-time) settlement of funds transfers individually on an order by order basis
(without netting). 'Real Time' means the processing of instructions at the time they are received
rather than at some later time; 'Gross Settlement' means the settlement of funds transfer
instructions occurs individually (on an instruction by instruction basis). Considering that the
funds settlement takes place in the books of the Reserve Bank of India, the payments are final
and irrevocable.
Q2. How RTGS is different from National Electronics Funds Transfer System (NEFT)?
Ans. NEFT is an electronic fund transfer system that operates on a Deferred Net Settlement
(DNS) basis which settles transactions in batches. In DNS, the settlement takes place with all
transactions received till the particular cut-off time. These transactions are netted (payable and
receivables) in NEFT whereas in RTGS the transactions are settled individually. For example,
currently, NEFT operates in hourly batches. [There are twelve settlements from 8 am to 7 pm on
week days and six settlements from 8 am to 1 pm on Saturdays.] Any transaction initiated after a
designated settlement time would have to wait till the next designated settlement time Contrary

to this, in the RTGS transactions are processed continuously throughout the RTGS business
Q3. Is there any minimum / maximum amount stipulation for RTGS transactions?
Ans. The RTGS system is primarily meant for large value transactions. The minimum amount to
be remitted through RTGS is ` 2 lakh. There is no upper ceiling for RTGS transactions.
Q4. What is the time taken for effecting funds transfer from one account to another under
Ans. Under normal circumstances the beneficiary branches are expected to receive the funds in
real time as soon as funds are transferred by the remitting bank. The beneficiary bank has to
credit the beneficiary's account within 30 minutes of receiving the funds transfer message.
Q5. Would the remitting customer receive an acknowledgement of money credited to the
beneficiary's account?
Ans. The remitting bank receives a message from the Reserve Bank that money has been
credited to the receiving bank. Based on this the remitting bank can advise the remitting
customer through SMS that money has been credited to the receiving bank.
Q6. Would the remitting customer get back the money if it is not credited to the
beneficiary's account? When?
Ans. Yes. Funds, received by a RTGS member for the credit to a beneficiary customers account,
will be returned to the originating RTGS member within one hour of the receipt of the payment
at the PI of the recipient bank or before the end of the RTGS Business day, whichever is earlier,
if it is not possible to credit the funds to the beneficiary customers account for any reason e.g.
account does not exist, account frozen, etc. Once the money is received back by the remitting
bank, the original debit entry in the customer's account is reversed.
Q7. Till what time RTGS service window is available?
Ans. The RTGS service window for customer's transactions is available to banks from 9.00 hours
to 16.30 hours on week days and from 9.00 hours to 14:00 hours on Saturdays for settlement at
the RBI end. However, the timings that the banks follow may vary depending on the customer
timings of the bank branches.
Q8. What about Processing Charges / Service Charges for RTGS transactions?

Ans With a view to rationalize the service charges levied by banks for offering funds transfer
through RTGS system, a broad framework has been mandated as under:
a) Inward transactions Free, no charge to be levied.
b) Outward transactions ` 2 lakh to ` 5 lakh - not exceeding ` 30.00 per transaction;
Above ` 5 lakh not exceeding ` 55.00 per transaction.

RTGS: The acronym RTGS stands for real time gross settlement. The Reserve Bank ofIndia
(Indias Central Bank) maintains this payment network. RTGS system is a funds transfer
mechanism where transfer of money takes place from one bank to another on a real time and on
gross basis. This is the fastest possible money transfer system through the banking channel.
Settlement in real time means payment transaction is not subjected to any waiting period. The
transactions are settled as soon as they are processed. Gross settlement means the transaction is
settled on one to one basis without bunching with any other transaction. Considering that money
transfer takes place in the books of the Reserve Bank of India, the payment is taken as final and
NEFT: The national electronic fund transfer (NEFT) system is a nation-wide system that
facilitates individuals, firms and corporate to electronically transfer funds from any bank branch
to any individual, firm or corporate having an account with any other bank branch in the country.
What is the difference between RTGS & NEFT?

In RTGS payment transaction will not involve any waiting period which is the true
meaning of real time settlement. NEFT functions on a deferred net settlement (DNS) basis
where transactions are completed in batches at specific times.

Another significant factor that differentiates RTGS and NEFT is fixing a floor limit.
RTGS is an exclusive message based transfer mechanism for an amount over Rs 2 lakhs i.e
the minimum amount to be remitted through RTGS is Rs.2 lakhs. There is no upper ceiling for
RTGS transactions. Contrary to that, NEFT is used mainly to transfer funds below Rs 2 lakhs,
and this system is most commonly used for smaller value transactions involving smaller sum
of money i.e from an amount as minute as one rupee. However, there is no maximum limit for
transfers through NEFT.


Magnetic Ink Character Recognition Code (MICR Code) is a character-recognition
technology used mainly by the banking industry to ease the processing and clearance of
cheques and other documents. The MICR encoding, called theMICR line, is at the bottom of

cheques and other vouchers and typically includes the document-type indicator, bank
code,bank account number, cheque number, cheque amount, and a control indicator. The
technology allows MICR readers to scan and read the information directly into a datacollection device. Unlike barcodes and similar technologies, MICR characters can be read
easily by humans. The MICR E-13B font has been adopted as the international standard
in ISO1004:1995,but the CMC-7 font is widely used in Europe, Brazil and Mexico.
UTR NUMBER: The term UTR No. means Unique Trasaction Reference Number and it is
generally used in association with NEFT transactions done through bank. For every
successful NEFT transaction, your Bank will provide a UTR number (Unique Transaction
Reference No.). For example, if you do the a NEFT transaction with a branch of Union Bank of
India, the Union Bank of India will provide the UTR No. to you which can be used to track the
transaction later. So, UTR number is a unique code for identifying the NEFT transaction.
16 digits UTR Number of RTGS denotes First 4 digits for Bank : SBIN
Next 1 digit for Server : N or H
Next 2 digits for year : 12(for 2012)
Next 3 digits for julian date : 365(for 31 december)
Next 6 digits : Unique reference Number
followed by the banks. To follow this banks need to focus on how to reach customers efficiently
instead of thinking of new branches.
A MUTUAL FUND is an investment vehicle that is made up of a pool of funds collected from
many investors for the purpose of investing in securities such as stocks, bonds, money market
instruments and similar assets whereas a FIXED DEPOSIT (FD) is a financial
instrument provided by banks which provides investors with a higher rate of interest than a
regular savings account, until the given maturity date. It may or may not require the creation of a
separate account. It is known as a term deposit or time deposit in Canada, Australia, New
Zealand, and the US, and as a bond in the United Kingdom. They are considered to be very safe

What are Mutual Funds?

A mutual fund is a group of investors operating through a fund manager to purchase a
diverse portfolio of stocks or bonds. There are myriad kinds of mutual funds, each with its own
goals and methodologies. Whether or not a mutual fund is a good investment is a matter of much
public debate, with many claiming they are excellent for the average person, and others saying
they are simply a poor way to invest.

A mutual fund may be either an actively managed fund or an indexed mutual fund.
Actively managed funds are changed on a regular basis by a fund manager in the attempt to
maximize their profitability. The fund manager looks at the market and the sectors a fund invests
in and redistributes the fund accordingly. An indexed fund simply takes one of the major indexes
and buys according to that index. Indexed funds change much less frequently than actively
managed funds, but in theory an active fund has more potential for profit.
Many critics of mutual funds point out that scarcely over 20% of mutual funds
outperform the Standard and Poors 500 Index. This means that nearly 80% of the time, an
investor would have been more profitable by simply buying equal shares in all 500 of the
companies currently on the S&P 500.
Supporters point out that for most people the complications involved in traditional
investment are simply not worth the effort. A mutual fund offers an easy way to invest in
something with a higher return than, say, interest earned at the bank, while keeping funds
somewhat fluid. It also eliminates the need to track the market oneself.
What are Fixed Deposits?
Fixed deposits are loan arrangements where a specific amount of funds is placed on deposit
under the name of the account holder. The money placed on deposit earns a fixed rate of interest,
according to the terms and conditions that govern the account. The actual amount of the fixed
rate can be influenced by such factors at the type of currency involved in the deposit, the
duration set in place for the deposit, and the location where the deposit is made.

What are Asset Reconstruction Companies?

Asset reconstruction is the handling of distressed assets to attempt to recover their value and
clear them from the books. The problem of non performing loan/assets is a global one and has
been receiving attention of banks, economist, regulators and public, alike. Internationally Asset
Reconstruction Companies (ARCs) have been created to bring about a system for cleaning up
Non Performing Assets (NPAs) from the books of secured lenders and bring the locked assets in
circulation into the economy.
The word asset reconstruction company is a typical used in India. Globally the equivalent
phrase used is asset management companies. The word asset reconstruction in India were
used in Narsimham I report where it was envisaged for the setting up of a central Asset
Reconstruction Fund with money contributed by the Central Government, which was to be used
by banks to shore up their balance sheets to clean up their non-performing loans. However, this

never saw the light of the day and later on Narsimham II floated the idea asset reconstruction

Accordingly, Asset Reconstruction Company (Securitization Company / Reconstruction

Company) is a company registered under Section 3 of the Securitisation and Reconstruction of
Financial Assets and Enforcement of Security Interest (SRFAESI) Act, 2002. It is regulated by
Reserve Bank of India as an Non Banking Financial Company ( u/s 45I ( f ) (iii) of RBI Act,
RBI has exempted ARCs from the compliances under section 45-IA, 45-IB and 45-IC of the
Reserve Bank Act, 1934. ARC functions like an AMC within the guidelines issued by RBI.
ARC has been set up to provide a focused approach to Non-Performing Loans resolution
issue by:(a) isolating Non Performing Loans (NPLs) from the Financial System (FS),
(b) freeing the financial system to focus on their core activities and
(c) Facilitating development of market for distressed assets.
Functions of ARC :
(i) Acquisition of financial assets (as defined u/s 2(L) of SRFAESI Act, 2002)
(ii) Change or take over of Management / Sale or Lease of Business of the Borrower
(iii) Rescheduling of Debts
(iv) Enforcement of Security Interest (as per section 13(4) of SRFAESI Act, 2002)
(v) Settlement of dues payable by the borrower
Relieving banks of the burden of NPAs would allow them to focus better on managing
the core business including new business opportunities.
The transfer should help restore depositor and investor confidence by ensuring the
lenders financial health. ARCs are meant to maximise recovery value while minimizing costs.
ARCs can also help build industry expertise in loan resolution, besides serving as a
catalyst for important legal reforms in bankruptcy procedures and loan collection.
ARCs can play an important role in developing capital markets through secondary asset
How Does ARC actually Works :
ARC functions more or less like a Mutual Fund. It transfers the acquired assets to one or more
trusts (set up u/s 7(1) and 7(2) of SRFAESI Act, 2002) at the price at which the financial assets
were acquired from the originator (Banks/FIs).
Then, the trusts issues Security Receipts to Qualified Institutional Buyers [as defined u/s 2(u) of
SRFAESI Act, 2002]. The trusteeship of such trusts shall vest with the ARC. ARC will get only
management fee from the trusts. Any upside in between acquired price and realized price will be
shared with the beneficiary of the trusts (Banks/FIs) and ARC. Any downside in between
acquired price and realized price will be borne by the beneficiary of the trusts (Banks/FIs).
What is ARCIL?


ARCIL is the first asset reconstruction company (ARC) in the country to commence the business
of resolution of non-performing loans (NPLs) acquired from Indian banks and financial
institutions. It commenced business consequent to the enactment of the Securitisation and
Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002
(Securitisation Act, 2002). As the first ARC, Arcil played a pioneering role in setting standards
for the industry in India. It has been spearheading the drive to recreate value out of NPLs and in
doing so, it continues to play a proactive role in reenergizing the Indian industry through critical
What is BCSBI ?
It is an independent and autonomous watch dog to monitor and ensure that the Banking Codes
and Standards adopted by the banks are adhered to in true spirit while delivering their services.
Definition:- In these Rules, unless the context requires otherwise:
Act means the Societies Registration Act, 1860 in its application to the State of
Chairman means the Chairman of the Governing Council referred to in Rule 6 or 7.
Chief Executive Officer means the Chief Executive Officer of the Society referred to in
Rule 13, or as the as may be, in Rule 14
Memorandum means the Memorandum of Association of the Society.
Representative means an officer of the member bank, nominated by that bank to
represent it.
About BCSBI :In November 2003, RBI constituted the Committee on Procedures and Performance Audit of
Public Services under the Chairmanship of Shri S.S.Tarapore (former Deputy Governor) to
address the issues relating to availability of adequate Banking Services to common man. The
mandate to the Committee included identification of factors that inhibited the attainment of best
customer services and suggesting steps to improve the quality of banking services to individual
customers. The Committee felt that in an effort to continuously upgrade the package of services
that banks offered to their customers there was a need of benchmarking of such services. After in
depth study at the grass root level the Committee concluded that there was an institutional gap
for measuring the performance of banks against a bench mark reflecting the best practices (Code
and Standards). Therefore, the Committee recommended setting up of the Banking Codes and
Standards Board of India broadly on the lines of Banking Codes and Standards Board
functioning in U.K.
What Is Core Banking System ?
The word Core Banking is used to describe the various services being offered by the banking
system to its customers and this is done by the whole banking core branches. This facility makes
it possible for the banks to get transfer their funds and other transactions to other core branch
offices in a very easy and quick manner. Now, there is no need to get deposit and withdrawal of

your cash in the same branch. You can deposit from any branch and get it withdrawal easily from
the other branch.
This facility of core banking has been developed few years back and had led to the tremendous
change in the banking system structure. It gives the freedom of choice to the customer to get
done the transactions completed in his own way. The person is not bound to anyone. There are
various and most bolded facilities offered by the core banking system solutions are described
Automatic teller machine or ATM
Electronic fund
Internet banking
Branch clearing facility for banking branch offices

Kisan Vikas Patra

Kisan Vikas Patra, also popularly known as KVP is one of a very good investment scheme with high interest

rates. KVP has the following main features

Money doubles in 8 years and 7 months.

Rate of interest 8.40% compounded annually.
Minimum Investment Rs. 500/- No maximum limit.
Two adults, Individuals and minor through guardian can purchase.
Companies, Trusts, Societies and any other Institution not eligible to purchase.
Non-Resident Indian/HUF are not eligible to purchase.
Facility of encashment from 2 years.
Maturity proceeds not drawn are eligible to Post office Savings account interest for a
maximum period of two years.
Facility of reinvestment on maturity.
Patras can be pledged as security against a loan to Banks/Govt. Institutions.
Patras are encashable at any Post office before maturity by way of transfer to desired
Post office.
Patras are transferable to any Post office in India.
Patras are transferable from one person to another person before maturity
Duplicate can be issued for lost, stolen, destroyed, mutilated and defaced patras.
Nomination facility available.
Facility of purchase/payment of Kisan vikas Patras to the holder of Power of attorney.

Rebate under section 80 C not admissible.

Interest income taxable but no TDS
Deposits are exempt from Wealth tax.

Multinational Bank Slogans/ Punch lines

Bank Name

Slogan/Punch line


Lets get it done

Standard Chartered Bank

Your Right Partner


The Worlds Local Bank

Royal Bank of Scotland

Make it happen

BNP Paribas

The bank for a changing world

JPMorgan Chase Bank

The right relationship is everything

Deutsche Bank

A passion to perform

Scotia Bank

Youre richer than you think

American Express Bank

Do more

Barclays Bank

Fluent in finance

DBS Bank

Living, Breathing Asia

Slogans of Banks in India

Name of the Bank

Slogan/Bank Slogan

Allahabad Bank

A tradition of trust

Andhra Bank

Much more to do. With YOU in focus

Bank of Baroda

Indias International Bank

Bank of India

Relationships beyond Banking

Bank of Maharashtra

One Family One Bank

Bank of Rajasthan

Together we Prosper

Canara Bank

Its easy to change for those who you love, Together we Can

Central Bank of India

Build A Better Life Around Us, Central to you since 1911

Corporation Bank

Prosperity for all

Dena Bank

Trusted Family Bank

Federal Bank

Your Perfect Banking Partner


We Understand Your World


Worlds Local Bank


Hum Hai na


Banking for all; Aao Sochein Bada

Indian Bank
Indian Overseas Bank

Taking Banking Technology to Common Man, Your Techfriendly bank

Good people to grow with

J & K Bank

Serving to Empower

Karur Vysya Bank

Smart way to Bank

Lakshmi Vilas Bank

The Changing Face of Prosperity

Oriental Bank of
Punjab and Sindh Bank

Where every individual is committed

Punjab National Bank

The Name you can Bank Upon

State Bank of India

State Bank of Hyderabad

The Nation banks on us; Pure Banking Nothing Else; With you
all the way
You can always bank on us

State Bank of Mysore

Working for a better tomorrow

State Bank of Patiala

Blending Modernity with Tradition

State Bank of Travancore

A Long Tradition of Trust

South Indian Bank

Experience Next Generation Banking

Syndicate Bank

Your Faithful And Friendly Financial Partner

Where series is a way of life

The Economic Times

Knowledge is Power

UCO Bank

Honors Your Trust

Union Bank of India

Good people to bank with

United Bank of India

The Bank that begins with U

Vijaya Bank

A Friend You can Bank Upon

Yes Bank

Experience our expertise

List of Public sector banks in India and their headquarters

Public Sector Bank

Allahabad Bank


Andhra Bank


Bank of Baroda


Bank of India


Bank of Maharashtra


Canara Bank


Central Bank of India


Corporation Bank


Dena Bank






Indian Bank



Indian Overseas Bank



Oriental Bank of Commerce

New Delhi


Punjab National Bank

New Delhi


Punjab and Sind Bank

New Delhi


State Bank of India



State Bank of Bikaner and




State Bank of Hyderabad



State Bank of Mysore



State Bank of Patiala



State Bank of Travancore



Syndicate Bank



UCO Bank



Union Bank of India



United Bank of India



Vijaya Bank



Name of the Bank

Established Year

Allahabad Bank


Andhra Bank

20 November, 1923

Bank of Baroda

20 July, 1908

Bank of India

7 September, 1906

Bank of Maharashtra


Canara Bank


Central Bank of India

21 December, 1911

Corporation Bank


Dena Bank


Indian Bank


Name of the Bank

Established Year

Indian Overseas Bank

10 February , 1937

Oriental Bank of Commerce

19 February , 1943

Punjab and Sindh Bank


Punjab National Bank


Syndicate Bank


Union Bank of India


United Bank of India


UCO Bank

6 January , 1943

Vijaya Bank


Bharatiya Mahila Bank

19 November 2013


1.Negotiable instrument act-1881

2.The bankers book evidence act-1891
3.The reserve bank of India act-1934
4.The industrial finance corporation of India act-1948
5.The banking companies(Legal practitioner clients Account)act-1949
6.The industrial s disputes(Banking and insurance companies)act-1949
7.The banking regulation act-1949
8.The state financial corporation act-1951
9.The reserve bank of India(Amendment and Misc.provision act)-1953
10.The Industrial disputes(Banking companies decision act)-1955
11.The state bank of India act-1955
12.The state bank of India subsidiary banks act-1959
13.The subsidiary banks general regulation-1959
14.The deposit insurance and credit Guarantee corporation act-1961
15.The banking companies(Acquisition and Transfer of Undertakings) act-1970
List of Nationalized Banks Logos and Founder Name

Bank Name : State Bank of India

Founder Name : British Government ( In form of Imperial Bank of India )
Established Year : July 1, 1955

Bank Name : State Bank of Bikaner and Jaipur

Founder Name :
Established Year : 1963

Bank Name : State Bank of Hyderabad

Founder Name : Nawab Amer Usman Ali Khan
Established Year : August 8 , 1941

Bank Name : State Bank of Mysore

Founder Name : Mokshagundam Visvesvaraya
Established Year : October 2, 1913

Bank Name : State Bank of Travancore

Founder Name : C.P. Ramaswamy Iyer ( Diwan of Travancore )
Established Year : September 12, 1945

Bank Name : Allahabad Bank

Founder Name : By group of British citizens
Establish Year : April 24, 1865

Bank Name : Bank of Baroda

Founder Name : Maharaja Sayajirao Gaekwad
Establish Year : July 20, 1908

Bank Name : Bank of India

Founder Name : Sassoon J David
Established Year : September 7, 1906

Bank Name : Canara Bank

Founder Name : Ammembal Subba Rao Pai
Established Year : July 1, 1906

Bank Name : Bank of Maharashtra

Founder Name : V. G. Kale and D. K. Sathe
Established Year : September 16, 1935

Bank Name : Andhra Bank

Founder Name : Dr.Bhogaraju Pattabhi Sitaramayya
Established Year : November 20, 1923

Bank Name : Central Bank of India

Founder Name : Sir Sohrabji Pokhchanawalla
Established Year : December 21, 1911

Bank Name : Corporation Bank

Founder Name : Khan Bahadur Haji Abdullah Haji Kasim Saheb Bahadur
Established Year : March 12, 1906

Bank Name : Indian Bank

Founder Name : Annamalai Chettiar and Ramaswami Chettiar
Established Year : March 5, 1907

Bank Name : Indian Overseas Bank

Founder Name : M.Chidambaram Chettyar
Established Year : February 10, 1937

Bank Name : Punjab National Bank

Founder Name : Lala Lajpat Rai
Established Year : 1985

Bank Name : Dena Bank

Founder Name : Devkaran Nanjee
Established Year : May 26, 1938

Bank Name : Oriental Bank of Commerce

Founder Name : Rai Bahadur Lala Sohan Lal
Established Year : February 19, 1943

Bank Name : Punjab and Sind Bank

Founder Name : Bhai Vir Singh, Sir Sunder Singh Majitha and Sardar Tarlochan Singh
Established Year : June 24, 1908

Bank Name : Syndicate Bank

Founder Name : Upendra Ananth Pai , Vaman Kudva and Dr.T M A Pai
Established Year : 1925

Bank Name : United Bank of India

Founder Name : Narendra Chandra Dutta
Established Year : 1914

Bank Name : Union Bank of India

Founder Name :
Established Year : November 11, 1919

Bank Name : UCO Bank

Founder Name : Ghanshyam Das Birla
Established Year : January 6, 1943

Bank Name : Vijaya Bank

Founder Name : Attavar Balakrishna Shetty
Established Year : October 23, 1931

Bank Name : Bharatiya Mahila Bank

Founder Name : Indian Government
Established Year : November 19, 2013

Bank Name : IDBI Bank

Founder Name : Indian Government
Established Year : July, 1964
1. ACF ..............Auto-Correlation Function
2. AD ................Authorized Dealer
3. ADB ..............Asian Development Bank
4. ADR .............American Depository Receipt

5. AFS ..............Annual Financial Statement

6. AGM .............Annual General Meeting
7. AIRCSC .......All India Rural Credit Survey Committee
8. AO ................Additive Outliers
9. AR ................Auto Regression
10. ARIMA ..........Auto-Regressive Integrated Moving Average
11. AFS ..............Available For Sale
12. ASSOCHAM........ Associated Chambers of Commerce and Industry of India
13. ATM..............Asynchronous Transfer Mode
14. ATM..............Automated Teller Machine
15. BIS ...............Bank for International Settlements
16. BOI ...............Bank of India
17. BoP ..............Balance of Payments
18. BPM5 ...........Balance of Payments Manual, 5th edition
19. BPSD ...........Balance of Payments Division, DESACS, RBI
20. BSCS ...........Basel Committee on Banking Supervision
21. BSR..............Basic Statistical Returns
22. CAD .............Capital Account Deficit
23. CAG .............Controller and Auditor General of India
24. CBS ..............Consolidated Banking Statistics
25. CC ................Cash Credit
26. CD ................Certificate of Deposit
27. CD ................Ratio Credit Deposit Ratio
28. CDBS ...........Committee of Direction on Banking Statistics
29. CF ................Company Finance

30. CFRA ...........Combined Finance and Revenue Accounts

31. CGRA ...........Currency and Gold Revaluation Account
32. CII ................Confederation of Indian Industries
33. CO................Capital Outlay
34. CP ................Commercial Paper
35. CPI ...............Consumer Price Index
36. CPI-IW .........Consumer Price Index for Industrial Workers
37. CR ................Capital Receipts
38. CRAR ...........Capital to Risk Weighted Asset Ratio
39. CRR .............Cash Reserve Ratio
40. CSIR ............Council of Scientific and Industrial Research
41. CSO .............Central Statistical Organisation
42. CVC .............Central Vigilance Commission
43. DAP ..............Development Action Plan
44. DBOD...........Department of Banking Operations and Development
45. DBS ..............Department of Banking Supervision, RBI
46. DCA.............. Ministry of Companies Affairs
47. DCB .............Demand Collection and Balance
48. DCCB ...........District Central Cooperative Bank
49. DCM .............Department of Currency Management, RBI
50. DD ................Demand Draft
51. DDS .............Data Dissemination Standards
52. DEIO ............Department of External Investments and Operations
53. DESACS ......Department of Statistical Analysis & Computer Services, RBI
54. DGBA ...........Department of Government and Bank Accounts, RBI

55. DGCI&S .......Directorate General of Commercial Intelligence and Statistics

56. DI .................Direct Investment
57. DICGC .........Deposit Insurance and Credit Guarantee Corporation of India
58. DID ...............Discharge of Internal Debt
59. DMA .............Departmentalized Ministries Account
60. DRI ...............Differential Rate of Interest Scheme
61. DSBB ...........Dissemination Standards Bulletin Board
62. DVP ..............Delivery versus Payment
63. ECB ..............External Commercial Borrowing
64. ECB ..............European Central Bank
65. ECGC...........Export Credit and Guarantee Corporation
66. ECS ..............Electronic Clearing Scheme
67. EDMU ..........External Debt Management Unit
68. EEA ..............Exchange Equalization Account
69. EEC..............European Economic Community
70. EEFC ...........Exchange Earners Foreign Currency
71. EFR ..............Exchange Fluctuation Reserve
72. EPF ..............Employees Provident Fund
73. EUR .............Euro
74. EXIM Bank ...Export Import Bank of India
75. FCA ..............Foreign Currency Assets
76. FCCB ...........Foreign Currency Convertible Bond
77. FCNR(B) ......Foreign Currency Nonresident (Banks)
78. FCNRA .........Foreign Currency Nonresident Account
79. FCNRD ........Foreign Currency Non- Repatriable Deposit

80. FDI ...............Foreign Direct Investment

81. FEMA ...........Foreign Exchange Management Act
82. FI ..................Financial Institution
83. FICCI ............Federation of Indian Chambers of Commerce and Industry
84. FII................. Foreign Institutional Investor
85. FIMMDA .......Fixed Income Money Market and Derivatives Association of India
86. FISIM ...........Financial Intermediation Services Indirectly Measured
87. FLAS ............Foreign Liabilities and Assets Survey
88. FOF ..............Flow Of Funds
89. FPI ...............Foreign Portfolio Investment
90. FRA ..............Forward Rate Agreement
91. FRBM ...........Fiscal Responsibility and Budget Management Act, 2003
92. FRN..............Floating Rate Note
93. FSS ..............Farmers Service Societies
94. FWG.............First Working Group on Money supply
95. GDP .............Gross Domestic Product
96. GDR .............Global Depository Receipt
97. GFD .............Gross Fiscal Deficit
98. GFS ..............Government Finance Statistics
99. GIC...............General Insurance Corporation
100. GLS ..............Generalized Least Squares
101. GNIE ............Government Not Included Elsewhere
102. GoI ...............Government of India
103. GPD .............Gross Primary Deficit
104. G-Sec ...........Government Securities

105. HDFC ...........Housing Development Finance Corporation

106. HFT ..............Held For Trading
107. HICP.............Harmonised Index of Consumer Prices
108. HO................Head Office
109. HUDCO ........Housing & Urban Development Corporation
110. IBRD ............ International Bank for Reconstruction and Development
111. IBS............... International Banking Statistics
112. ICAR............ Indian Council of Agricultural Research
113. ICICI............. Industrial Credit and Investment Corporation of India
114. ICMR............ Indian Council of Medical Research
115. IDB............... India Development Bonds
116. IDBI.............. Industrial Development Bank of India
117. IDD............... Industrial Development Department
118. IFAD............. International Fund for Agricultural Development
119. IFC............... International Finance Corporation
120. IFC (W)......... International Finance Corporation (Washington)
121. IFCI.............. Industrial Finance Corporation of India
122. IFR............... Investment Fluctuation Reserve Account
123. IFS............... International Financial Statistics
124. IGLS............. Iterative Generalized Least Squares
125. IIBI................ Industrial Investment Bank of India
126. IIP................. Index of Industrial Production
127. IIP/InIP......... International Investment Position
128. IMD.............. India Millennium Deposits
129. IMF............... International Monetary Fund In India

130. INR............... Indian Rupee

131. IOTT............. Input-Output Transaction Table
132. IP.................. Interest Payment
133. IRBI.............. Industrial Reconstruction Bank of India
134. ISDA............. International Swaps and Derivative Association
135. ISIC.............. International Standard Industrial Classification
136. ISO............... International Standards Organization
137. ITRS............. International Transaction Reporting System
138. IWGEDS...... International Working Group on External Debt Statistics
139. KVIC............. Khadi & Village Industries Corporation
140. LAF.............. Liquidity Adjustment Facility
141. LAMPS......... Large-sized Adivasi Multipurpose Societies
142. LAS.............. Loan & Advances by States
143. LBD.............. Land Development Bank
144. LBS.............. Locational Banking Statistics
145. LERMS......... Liberalised Exchange Rate Management System
146. LIC ............... Life Insurance Corporation of India
147. LS ................. Level Shift
148. LT ................. Long Term
149. LTO .............. Long Term Operation
150. M1 ................Narrow Money
151. M3 ................Broad Money
152. MA ................Moving Average
153. MCA .............Ministry of Company Affairs
154. MIGA ............Multilateral Investment Guarantee Agency

155. MIS ...............Management Information System

156. MMSE ..........Minimum Mean Squared Errors
157. MoF ..............Ministry of Finance
158. MOF .............Master Office File
159. MRM ............Monitoring and Review Mechanism
160. MSS .............Market Stabilisation Scheme
161. MT ................Mail Transfer
162. MTM .............Mark-To-Market
163. NABARD ......National Bank for Agriculture and Rural Development
164. NAC(LTO) ....National Agricultural Credit (Long Term Operatiion)
165. NAIO ............Non Administratively Independent Officeh
166. NAS ..............National Account Statistics
167. NASSCOM ...National Association of Software and Services Companies
168. NBC .............Non-Banking Companies
169. NBFC ...........Non Banking Financial Companies
170. NEC .............Not Elsewhere Classified
171. NEER ...........Nominal Effective Exchange Rate
172. NFA ..............Non-Foreign Exchange Assets
173. NFD..............Net Fiscal Deficit
174. NGO .............Non-Governmental Organization
175. NHB .............National Housing Bank
176. NIC ...............National Industrial Classification
177. NIF ...............Note Issuance Facility
178. NNML ...........Net Non-Monetary Liabilities
179. NPA ..............Non-Performing Assets

180. NPD .............Net Primary Deficit

181. NPRB ...........Net Primary Revenue Balance
182. NPV ..............Net Present Value
183. NR(E)RA ......Non-Resident (External) Rupee Account
184. NR(NR)RA ...Non-Resident (Non- Repatriable) Rupee Account
185. NRE .............Non-Resident External
186. NRG .............Non-Resident Government
187. NRI ...............Non-Resident Indian
188. NSC .............National Statistical Commission
189. NSSF ...........National Small Savings Fund OD Over Draft
190. ODA .............Official Development Assistance
191. OECD...........Organisation for Economic Cooperation and Development
192. OECO ..........Organisaton for Economic Cooperation
193. OFI ...............Other Financial Institutions
194. OLTAS ..........OnLine Tax Accounting System
195. OMO ............Open Market Operations
196. OSCB ...........Other Indian Scheduled Commercial Bank
197. PACF ............Partial Auto-Correlation Function
198. PACS............Primary Agriculture Credit Societies
199. PCARDB ......Primary Cooperative Agriculture and Rural Development Bank
200. PD ................Primary Deficit
201. PDAI .............Primary Dealers Association of India
202. PDO .............Public Debt Office
203. PDO-NDS ..Public Debt Office-cum- Negotiated Dealing System
204. PDs ..............Primary Dealers

205. PES ..............Public Enterprises Survey

206. PF ................Provident Fund
207. PIO ...............Persons of Indian Origin
208. PNB ..............Punjab National bank
209. PO ................Principal Office
210. PRB ..............Primary Revenue Balance
211. PSE ..............Public Sector Enterprises
212. PUC .............Paid Up Capital
213. PC ......... Printing Code
214. P&L .......... Profit and Loss
215. P/E ........... Price/Earnings
216. PAS ..........Public Address System
217. PB .............. Planters Bank
218. PN ........... Promissory Note
219. PO ........... Probationary Officer
220. PO ......... Purchase Order
221. PI ........... Penal Interest
222. PIFI ......Pensions, Insurance, and Financial Institutions
223. PLAR ........Prudential Liquidity Assessment Review
224. PS ...........Priority Sector
225. PSB ...........Public Sector Banks
226. PSU .............Public Sector Unit
227. POMO ...........Permanent Open Market Operations
228. POS ............Point of Sales
229. POS ..........Point of Services

230. PQA .........Professional Qualification Allowance

231. PS ..............Preference Shares
232. PVI ..........Primary Variable of Interest
233. Pvt .........Private
234. QRR .............Quick Review Report
235. RBI ...............Reserve Bank of India
236. RD ................Revenue Deficit
237. RDBMS ........Relational Database Management System
238. RE ................Revenue Expenditure
239. REC .............Rural Electrification Corporation
240. REER ...........Real Effective Exchange Rate
241. RFC..............Residents Foreign Currency
242. RIB ...............Resurgent India Bonds
243. RIDF .............Rural Infrastructure Development Fund
244. RLA ..............Recoveries of Loans & Advances
245. RLC ..............Repayment of Loans to Centre
246. RMB .............Renminbi (Chinese)
247. RNBC ...........Residuary Non-Banking Companies
248. RO................Regional Office
249. RoCs ............Registrars of Companies
250. RPA ..............Rupee Payment Area
251. RPCD ...........Rural Planning and Credit Department, RBI
252. RR ................Revenue Receipts
253. RRB .............Regional Rural Bank
254. RTP ..............Reserve Tranche Position

255. RUF ..............Revolving Underwriting Facility

256. RWA .............Risk Weighted Asset
257. SAM .............Social Accounting Matrix
258. SAS ..............Statistical Analysis System
259. SBI ...............State Bank of India
260. SC ................Schedule Caste
261. SCARDB ......State Cooperative Agriculture and Rural Development Bank
262. SCB ..............State Cooperative Bank
263. SCB ..............Scheduled Commercial Bank
264. SCS ..............Size Class Strata
265. SDDS ...........Special Data Dissemination Standards
266. SDR .............Special Drawing Right
267. SEBI .............Securities and Exchange Board of India
268. SEBs ............State Electricity Boards
269. SFC ..............State Financial Corporation
270. SGL ..............Subsidiary General Ledger
271. SGSY ...........Swarnajayanthi Gram Swarrojgar Yojana
272. SHGs ...........Self-Help Groups
273. SIDBI ............Small Industries Development Bank of India
274. SIDC ............State Industrial Development Corporation
275. SI-SPA ..........Systems Improvement Scheme under Special Project Agriculture
276. SJSRY..........Swarna Jayanti Shahari Rojgar Yojana
277. SLR ..............Statutory Liquidity Ratio
278. SLRS ............Scheme for Liberation & Rehabilitation of Scavangers
279. SMG .............Standing Monitoring Group

280. SNA ..............System of National Accounts

281. SRWTO........Small road & Water Transport Operators
282. SSI ...............Small-Scale Industries
283. SSSBEs .......Small Scale Service & Business Enterprises
284. ST.................Schedule Tribe
285. SWG ............Second Working Group on Money Supply
286. TBs ...............Treasury Bills
287. TC ................Temporary Change
288. TT .................Telegraphic Transfer
289. UBB ..............Uniform Balance Book
290. UBD .............Urban Banks Department
291. UCB .............Urban Cooperative Bank
292. UCN .............Uniform Code Number
293. US ................United States
294. USD .............US Dollars
295. UTI ...............Unit Trust of India
296. VC ................Venture Capital
297. WGMS .........Working Group on Money Supply: Analytics and Methodology of
298. WPI ..............Wholesale Price Index
299. WSS .............Weekly Statistical Supplement
300. YTM .............Yield to Maturity
301. ZO ................Zonal Office