Banking & Economy

Important Abbreviations and Committees for Banking Exams

For students preparing for banking exams like the RBI Exam, it is crucial to be familiar with essential abbreviations and committees related to the banking sector. In this blog post, we have compiled a list of important abbreviations and committees that will help you in your preparation.

Section 1: Important Abbreviations in Banking Terms

ITEs: Intra-Group Transactions and Exposures

LRMT: Liquidity Risk Monitoring Tools

DEAF: Depositor Education and Awareness Fund

CRAR: Capital to Risk-weighted Assets Ratio

ECB: External Commercial Borrowings

SWIFT: Society for Worldwide Interbank Financial Telecommunication

FSLRC: Financial Sector Legislative Reforms Commission

MIBOR: Mumbai Inter-Bank Offer Rate

LIBOR: London Inter-Bank Offer Rate

LAF: Liquidity Adjustment Facility

GIRO: Government Internal Revenue Order

EEFC: Exchange Earner’s Foreign Currency

FRBMA: Fiscal Responsibility and Budget Management Act

Section 2: Important Committees for RBI Exam

Suma Verma Committee: Updating and revising the Banking Ombudsman Scheme, 2006

Damodran Committee: Improvement of customer services in banks

M. Narasimham Committee: Banking Sector Reforms

Raghuram Rajan Committee: Financial Sector Reforms

B. Mahapatra Committee: Review of existing prudential guidelines on restructuring of advances by banks/financial institutions

Aditya Puri Committee: Dissemination of Credit Information

K.U.B. Rao Committee: Aligning gold import regulations

K M Chandrasekhar Committee: Rationalization of foreign investment norms

Pulak Kumar Sinha Committee: Feasibility of Aadhaar as an additional factor for authentication of card present transactions

Mukul Mudgal Committee: Investigating Walmart’s lobbying activities to enter India

MBN Rao Committee: Blueprint of India’s first women’s bank

Arvind Mayaram Committee: Defining Foreign Direct Investment (FDI) and Foreign Institutional Investment (FII)

Bimal Jalan Committee: Scrutinizing applications for new bank licenses

Familiarizing yourself with these important abbreviations and committees will give you an edge in your banking exam preparation. Make sure to study these terms and understand their significance in the banking sector. Good luck with your exams!