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ABF – Asian Bond Fund BPLR – Benchmark Prime Lending

ABS – Asset-Backed Security
BPO – Business Process Outsourcing
ACD – Asia Cooperation Dialogue
BSE – The Bombay Stock Exchange
ACU – Additional Competitive
CAD – Current Account Deficit
ADR – American Depository Receipt
CAPM – Capital Assets Pricing Model
ADs – Authorised Dealers
CAS – Credit Authorisation Scheme
AFS – Available for Sale
CBLOs – Collateralised Borrowing and
AGL – Aggregate Gap Limit
Lending Obligations
AIBP – Accelerated Irrigation Benefit
CBO – Collateralised Bond Obligation
CCC – Credit Counseling Canada
AIFI – All-India Financial Institution
CCDM – Credit Counseling and Debt
ALD – Aggregate Liability to
CCIL – Clearing Corporation of India
ALM – Asset-Liability Management
AMC – Asset Management Company
CCP – Central Counter Party
AML – Anti-Money Laundering
CCS – Credit Counseling of Singapore
ARC – Asset Reconstruction Company
CDO – Collateralised Debt Obligation
ASEAN – Association of South East
CDR – Corporate Debt Restructuring
Asian Nations
CDs – Certificates of Deposits
ATM – Automated Teller Machine
CDS – Credit Default Swaps
BAHTNET – Bank of Thailand Automated
High Value Transfer Network CENVAT – Central Value Added Tax
BCD – Bond, Currency and CFMS – Centralised Funds
Derivatives Management System
BCR – Bank Credit CGS – Commonwealth Government
BE – Bills of Exchange
CIB – Capital Indexed Bond
BEX – Bond Electronic Exchange
CIBIL – Credit Information Bureau
BFS – Board for Financial Supervision
(India) Limited
BIDS – Bond Information and
CIP – Covered Interest Parity
Dissemination System
CLF – Collateralised Lending Facility
BIS – Bank for International
Settlements CLN – Credit Linked Notes
BITs – Bilateral Investment Treaties CLO – Collateralised Loan Obligations
BOJ NET – Bank of Japan NET CP – Commercial Paper

CPI – Consumer Price Index EMEAP – Executives’ Meeting of East
Asia Pacific Central Banks
CPI-IW – Consumer Price Index for
(Industrial Workers) EMEs – Emerging Market Economies
CPSS – Committee on Payment and EMU – European Monetary Union
Settlement Systems
ET – Exchange Traded
CPSUs – Central Public Sector
FAST – Fully Automated System for
Issuing /Tendering
CRAR – Capital to Risk-Weighted
FCA – Foreign Cureency Assets
Assets Ratio
FCAC – Fuller Capital Account
CRR – Cash Reserve Ratio
CRT – Credit Risk Transfer
FCCBs – Foreign Currency Convertible
CDSL – Central Depository Services Bonds
(India) Limited
FCNR (A) – Foreign Currency Non-Resident
CSGL – Constituents’ Subsidiary (Accounts)
General Ledger
FCNR (B) – Foreign Currency Non-Resident
CSO – Central Statistical Organisation (Banks)
CSRC – Chinese Securities Regulatory FDI – Foreign Direct Investment
FEDAI – Foreign Exchange Dealers’
CV – Coefficient of Variation Association of India
DAD – Deposit Accounts Department FEMA – Foreign Exchange
DCCB – District Central Cooperative Management Act
Bank FERA – Foreign Exchange Regulations
DFHI – Discount and Finance House of Act
India FESFBs – Foreign Exchange Stabilisation
DFI – Development Finance Institution Fund Bonds

DMO – Debt Management Office FFMCs – Full Fledged Money Changers

DRT – Debt Recovery Tribunal FIDF – Financial Institutions

Development Fund
DTL – Demand and Time Liabilities
FIIs – Foreign Institutional Investors
DTTs – Double Taxation Treaties
FIMMDA – Fixed Income Money Market
DvP – Delivery versus Payment and Derivatives Association of
ECB – European Central Bank India

ECBs – External Commercial Borrowings FMCG – Fast Moving Consumer Goods

ECS – Electronic Clearing Service FIs – Financial Institutions
EEFC – Exchange Earners’ Foreign FOMC – Federal Open Market Committee
Currency FRAs – Forward Rate Agreements
EFP – External Finance Premium
FRBM Act – Fiscal Responsibility and
EFT – Electronic Fund Transfer Budget Management Act

FRBs – Floating Rate Bonds IMD – India Meteorological Department
FRL – Full Reservoir Level IMDs – India Millennium Deposits
FRLs – Fiscal Responsibility IMF – International Monetary Fund
INFINET – Indian Financial Network
GATS – General Agreement on Trade INR – Indian Rupees
and Services
IOC – Indian Oil Corporation
GCC – General Credit Card
IOMA – International Options Markets
GDCF – Gross Domestic Capital Association
IOSCO – International Organisation of
GDP – Gross Domestic Product Securities Commissions
GDR – Global Depository Receipt IPAs – Issuing and Paying Agents
GDS – Gross Domestic Saving IPF – Investor Protection Fund
GEMM – Gilt-Edged Market Makers IPO – Initial Public Offer
GFD – Gross Fiscal Deficit IRDA – Insurance Regulatory and
HFT – Held for Trading Development Authority of
HPEC – High Powered Expert
Committee IRFs – Interest Rate Futures

HTM – Held to Maturity IRS – Interest Rate Swap

IAS – Integrated Accounting System ISMA – International Securities Market

IBA – Indian Banks’ Association
IT – Information Technology
IBPCs – Inter-Bank Participation
ITES – Information Technology
Enabled Services
ICDs – Inter Corporate Deposits
JGBs – Japanese Government Bonds
IDBI – Industrial Development Bank of
JLG – Joint Liability Group
JSDA – Japanese Securities Dealers
IDR – Indian Depository Receipt
IFC – International Finance KCC – Kisan Credit Card
KTBs – Korean Treasury Bonds
IFCI – Industrial Finance Corporation
of India KYC – Know Your Customer

IIAs – International Investment LAF – Liquidity Adjustment Facility

Agreements LERMS – Liberalised Exchange Rate
IIBI – Industrial Investment Bank of Management System
India LIBOR – London Inter-Bank Offered
IIP – Index of Industrial Production Rate
LIC – Life Insurance Corporation
ILAF – Interim Liquidity Adjustment
Facility LOLR – Lender of Last Resort

LOOP – Law of One Price NASSD – National Association of
Software and Services
LPA – Long Period Average
LPG – Liquefied Petroleum Gas
NBC – Net Bank Credit
LTCCS – Long Term Cooperative Credit
NBFCs – Non-Banking Financial
LTO – Long-Term Operations
NCAER – National Council for Applied
M3 – Broad Money Economic Research
MAS – Monetary Authority of NCCF – National Calamity Contingency
Singapore Fund
MBS – Mortgage Backed Securities NCDs – Negotiable Certificates of
MCAP – Market Capitalisation
NDA – Net Domestic Assets
MCI – Monetary Conditions Index
NDF – Non Deliverable Forward
MFI – Micro Finance Institution
NDS – Negotiated Dealing System
MGSs – Malaysian Government
Securities NDS-OM – Negotiated Dealing System-
Order Matching
MIBOR – Mumbai Inter-Bank Offered Rate
NDTL – Net Demand and Time
MIFOR – Mumbai Inter-bank Forward Liabilities
Offered Rate
NEAT – National Exchange for
MME – Mature Market Economies Automated Trading
MMIs – Money Market Instruments NEER – Nominal Effective Exchange
MMMFs – Money Market Mutual Funds Rate

MNSB – Multilateral Net Settlement Batch NFA – Net Foreign Assets

MoU – Memorandum of Understanding NFC – Non-Food Credit

MPBF – Maximum Permissible Bank NGO – Non-Government Organisation

Finance NOF – Net Owned Funds
MSS – Market Stabilisation Scheme NPAs – Non-Performing Assets
MTM – Mark to Market NPL – Non-Performing Loan
MUC – Minimum Underwriting NRE – Non-Resident External
NRIs – Non-Resident Indians
NABARD – National Bank for Agriculture
NSDL – National Securities Depository
and Rural Development
NASDAQ – National Association of
NSE – National Stock Exchange of
Securities Dealers Automated
India Limited
Quotation System
NSS – National Settlement System
NASSCOM – National Association of Software
and Services NSSF – National Small Savings Fund

NSSO – National Sample Survey RD – Revenue Deficit
REER – Real Effective Exchange Rate
NTR – Non-tax Revenues
RIBs – Resurgent India Bonds
OD – Overdrafts
RIDF – Rural Infrastructure
ODA – Official Development Development Fund
RIP – Real Interest Parity
OECD – Organisation for Economic
RITS – Reserve Bank Information and
Cooperation and Development
Transfer Systems
OIS – Overnight Index Swap
RMDS – Reuters Markets Data System
OLS – Ordinary Least Square
RNBCs – Residuary Non-Banking
OMOs – Open Market Operations Companies
OPEC – Organisation of the Petroleum RRBs – Regional Rural Banks
Exporting Countries
RTGS – Real Time Gross Settlement
OTC – Over-the-Counter
RTP – Reserve Tranche Position
OTCEI – Over-the-Counter Exchange of
SAARC – South Asian Association for
Regional Cooperation
OWS – Other Welfare Schemes
SACP – Special Agricultural Credit Plan
P&L – Profit & Loss
SARFAESI – Securitisation and Reconstruction
PACS – Primary Agricultural Credit of Financial Assets and
Society Enforcement of Security Interest
PCARDB – Primary Cooperative and SC(R)A – Securities Contract (Regulations)
Agriculture Rural Development Act, 1956
SCARDB – State Co-operative Agricultural
PCs – Participation Certificates and Rural Development Bank
PD – Primary Deficit SCB – State Co-operative Bank
PDAI – Primary Dealers’ Association of SCBs – Scheduled Commercial Banks
SDDS – Special Data Dissemination
PDO – Public Debt Office Standards
PDs – Primary Dealers SDLs – State Development Loans
PIO – Persons of Indian Origin SDs – Satellite Dealers
PLF – Plant Load Factor SEACEN – South East Asian Central Banks
PLR – Prime Lending Rate SEANZA – South East Asia, New Zealand
PPP – Purchasing Power Parity and Australia
PSCFC – Post Shipment Credit SEBI – Securities and Exchange Board
denominated in Foreign Currency of India
PSU – Public Sector Undertaking SFC – State Financial Corporation
PTC – Pass-Through Certificate SGF – Settlement Guarantee Fund

SGL – Subsidiary General Ledger TOR – Turnover Ratio
SHCIL – Stock Holding Corporation of TPDS – Targeted Public Distribution
India Limited System
SHG – Self Help Group TRS – Total Return Swap
SIDBI – Small Industries Development UCBs – Urban Co-operative Banks
Bank of India UIP – Uncovered Interest Parity
SLR – Statutory Liquidity Ratio UK – United Kingdom
SME – Small and Medium US – United States
USAID – United States Agency for
SPV – Special Purpose Vehicle International Development
SR – Security Receipt UTI – Unit Trust of India
SROs – Self Regulatory Organisations VAR – Vector Auto Regression
SRS – System Requirement Study VaR – Value at Risk
SSI – Small Scale Industries VCF – Venture Capital Fund
STCCS – Short-Term Co-operative VSAT – Very Small Aperture Terminal
Credit Structure VTR – Value Traded Ratio
STCI – Securities Trading Corporation WADR – Weighted Average Discount
of India Rate
STP – Straight Through Processing WDM – Wholesale Debt Market
STRIPS – Separate Trading of Registered WI – When Issued
Interest and Pr incipal of
Securities WMA – Ways and Means Advances
WOS – Wholly Owned Subsidiaries
STT – Securities Transactions Tax
WPI – Wholesale Price Index
TAC – Technical Advisory Committee
WSS – Weekly Statistical Supplement
TDS – Tax Deducted at Source
WTO – World Trade Organisation
TFC – Twelfth Finance Commission
YTM – Yield to Maturity
TIPS – Treasury Inflation Protected
Securities ZCBs – Zero Coupon Bonds

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