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
- LCR: Liquidity Coverage Ratio
- NSFR: Net Stable Funding Ratio
- LRMT: Liquidity Risk Monitoring Tools
- CBS: Core Banking Solution
- 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!