Banking Terms and abbreviations

Terms Full Form Definition
SIDC State Industrial Development Corporation Established to develop the large industries by the government of India.
SJSRY Swarna Jayanti Shahari Rojgar Yojna This yojana was established in 1997 for the people who are living below the line of poverty. And by this yojana, these people are provided with jobs and employment.
SLR Statutory Liquidity Ratio SLR is defined as the ratio between the total liquid assets to the sum of total Demand with total liability. Mainly at the time of Inflation, SLR is used. SLR Rate = (liquid assets/demand + time liability)*100%
SMG Standing Monitoring Group This is the group of people who has the access to the standards that are all under development.
SNA System National Accounts It helps in controlling the activities related to the economy of a country as it is all related to digits and figures.
SRWTO Small Road & Water Transport Operators This is a socio – economic activity to provide the people with the credit facilities for water transport & road transport.
SSI Small Scale Industries The investment in this type of industries usually does not exceed the amount of Rs.1 Cr.
STRIPS Separate Trading of Registered Interest and Principal of Securities It is a type of financial institute which is created to provide a separate security to secure the treasury.
T-Bill Treasury bills Treasury bill is one of the two ways to fix the receipt and expenditure in business. Treasury bill is for the short term usually for 1 year and for the long-term bond is used.
TARC Tax Administration Reform Commission A committee appointed by the government of India with a motive to review the public tax administration system.
TC Temporary Change
TT Telegraphic Transfer TT is the term referring to the transfer of funds electronically from one end to another.
TAPI Turkmenistan, Afghanistan, Pakistan, India pipeline It is also Known as a trans-Afghanistan pipeline. TAPI is a natural gas pipeline which is developed by Asian development bank.
TFTS Trade for Trade Segments If a person buys some share in this type of segments then he immediately has to pay the whole amount and then he has to show the bought particular share in his Demat a/c when he wishes to sell that particular share.
TIEA Tax Information Exchange Agreements This agreement facilitates the information exchange regarding tax investigation and criminal.
UCB Urban Cooperative Bank This is the cooperative banks established in Urban Area.
UCN Uniform Code Number RBI provides a thirteen digit code in two parts to all the banks registered with RBI and to the Regional Branches of the respective banks. One part of the code consists of six digit code and the other part consist the other seven-digit of the code.
UNDP United Nations Development Programme UNDP was launched in 1965 with an objective to give resources, knowledge and other services to the countries which are still developing. at the time of crisis, It provides the services for reduction of poverty, treatments for HIV / AIDS and much more.
UNIDO United Nations Industrial Development Organization UNIDO was established with an objective to increase and promote the industrialization of the countries which are developing. As it is known that in countries which are developing the industries are very less and short ranged, so this country has to import goods which decreases their currency value and to insure that this does not happen UNIDO plays its role.
UNME Urban Non-Manual Workers
UTI Unit trust of India Basically, It is a financial institution of India that deals with mutual funds, It is also famous by the name “UTI mutual funds”. UTI has divided its stakes as. The largest public sectors like PNB, BOB, LIC, SBI, who holds 18.5% stake of UTI and Similarly, TRP group which hold 26% stake of UTI AMC (assets management company Ltd.)
VC Venture Capital A business has multiple options for taking financial help or loan like from banks or from other institutes. But if a new business is to be started by an entrepreneur then he can choose the Venture Capital option. As Venture Capital may also termed as a kind of loan, but the basic difference b/w venture capital and loan is that by repaying with interest the loans are paid back but on the other hand in venture capital private share are issued by the entrepreneur instead of money.
WPI Wholesale Price Index It is used to measure the ratio of inflation along with one more method.

  • WPI
  • PPI

WPI – Wholesale Price Index used in India

PPI – Producer Price Index which is used in the US. The objective of WPI is to control and measure the demand and supply and also analyze the macroeconomics and microeconomics conditions.

WTO World Trade Organization It is an intergovernmental organization. WTO came into existence in 1995 and replaced the (GPTI) general agreement on tariffs and trade to deals with international trade. On one of their meeting on 24 November 2016, the members of WTO discussed that why supporting the Developing countries is needed to continue trade in future.
YOY Year on Year In every business with the seasonal change, the Profit and Loss also varies. Therefore to compare the profit and loss changes with the same period of the year the term Year on Year is used.
YTM Yield Maturity A person who has a bond receives a particular annual return until maturity which is known as YTM. YTM can be calculated as: YTM = time period√face value /present value.
ZTC Zonal Training Center RBI has 4 training centers in 4 different cities to train its staff members only. These Training centers are called Zonal Training Centers.
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