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🏦 Decoding ABCs of Finance: Your Ultimate Guide to Banking, Credit Card, and Financial Acronyms and Terms.
👇 Long Post Alert
⭐️ A:
→ ACH: Automated Clearing House
→ ADR: American Depositary Receipt
→ AF: Annual Fee
→ APR: Annual Percentage Rate
→ AMFI: Association of Mutual Funds in India
→ AML: Anti-Money Laundering
→ ATM: Automated Teller Machine
→ AY: Assessment Year
⭐️ B:
→ BCSBI: Banking Codes and Standard Board of India
→ BIS: Bank for International Settlements
→ BO: Banking Ombudsman
→ BSE: Bombay Stock Exchange
⭐️ C:
→ CA: Chartered Accountant
→ CB: Cashback
→ CBDT: Central Board of Direct Taxes
→ C2C: Card to Card
→ CAGR: Compound Annual Growth Rate
→ CASA: Current Account Savings Account
→ CC: Credit Card / Customer Care
→ CIBIL: Credit Information Bureau (India) Limited (TransUnion CIBIL, A credit Information Company)
→ CEO: Chief Executive Officer
→ CCP: Central Counterparty Clearing
→ CFO: Chief Financial Officer
→ CFP: Certified Financial Planner
→ CIO: Chief Investment Officer
→ CIN: Corporate Identification Number
→ CKYC: Central Know Your Customer Registry
→ CL: Credit Limit
→ CLE: Credit Limit Enhancement
→ CLI: Credit Limit Increase
→ CMO: Chief Marketing Officer
→ COO: Chief Operating Officer
→ CRO: Chief Risk Officer
→ CS: Customer Support
→ CR: Credit Report
→ CRR: Cash Reserve Ratio
→ CRM: Customer Relationship Management
→ CDSL: Central Depository Services Limited
→ CGTMSE: Credit Guarantee Trust for Micro and Small Enterprise
→ CH: Credit History
→ CVV: Card Verification Value
⭐️ D:
→ DD: Demand Draft / Deposit
→ DC: Debit Card
→ DCC: Dynamic Currency Conversion
→ DIN: Director Identification Number
→ DSC: Digital Signature Certificate
⭐️ E:
→ EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization
→ ECLGS: Emergency Credit Line Guarantee Scheme
→ EMI: Equated Monthly Installment
→ EMV: Europay, Mastercard, and Visa (Chip Card Technology)
→ EPF: Employees' Provident Fund
→ ETA: Estimated Time of Arrival
→ ETF: Exchange-Traded Fund
→ ETB: Existing To Bank
→ ER: Edge Rewards (Axis)
⭐️ F:
→ FAQ: Frequently Asked Questions
→ FD: Fixed Deposit
→ FDIC: Federal Deposit Insurance Corporation
→ FDI: Foreign Direct Investment
→ FII: Foreign Institutional Investor
→ FOMC: Federal Open Market Committee
→ FOMO: Fear Of Missing Out
→ FOREX: Foreign Exchange
→ FUD: Fear, Uncertainty, Doubt
→ FY: Financial Year
→ FYF: First Year Free
⭐️ G:
→ GDR: Global Depository Receipt
→ GC/GV: Gift Voucher/Card
→ GDP: Gross Domestic Product
→ GST: Goods and Services Tax
→ GSTIN: GST Identification Number
⭐️ H:
→ HFT: High-Frequency Trading
→ HNI: High Net-worth Individual
→ HODL: Hold On for Dear Life (Commonly used in cryptocurrency world)
⭐️ I:
→ IBA: Indian Banks' Association
→ IBAN: International Bank Account Number
→ IFSC: Indian Financial System Code
→ IIBX: India International Bullion Exchange
→ IMPS: Immediate Payment Service
→ IPO: Initial Public/Private Offering
→ IRR: Internal Rate of Return
→ IRA: Individual Retirement Account
→ ISIN: International Securities Identification Number
→ I-T: Income Tax
→ ITR: Income Tax Return
⭐️ J:
→ JF: Joining Fee
⭐️ K:
→ KYC: Know Your Customer
⭐️ L:
→ LE: Limit Enhancement
→ LIBOR: London Interbank Offered Rate
→ LLP: Limited Liability Partnership
→ LTF: Life Time Free
⭐️ M:
→ MCA: Ministry Of Corporate Affairs
→ MBS: Mortgage-Backed Securities
→ MDR: Merchant Discount Rate
→ MICR: Magnetic Ink Character Recognition
→ MITC: Most Important Terms and Conditions
→ MMID: Mobile Money Identification
→ MR: Membership Rewards (Amex)
→ MS: Manufactured Spends
→ MSME: Micro, Small & Medium Enterprise
⭐️ N:
→ NACH: National Automated Clearing House
→ NASDAQ: National Association of Securities Dealers Automated Quotations
→ NCMP: National Common Mobility Card
→ NEFT: National Electronic Fund Transfer
→ NFC: Near-field communication
→ NIM: Net Interest Margin
→ NPCI: National Payments Corporation of India
→ NSC: National Savings Certificate
→ NSDL: National Securities Depository Limited
→ NSE: National Stock Exchange of India
→ NTB: New To Bank
→ NYSE: New York Stock Exchange
⭐️ O:
→ OD: Overdraft
→ OTC: Over-the-Counter
⭐️ P:
→ PAN: Permanent Account Number
→ P2P: Peer-to-Peer (Lending)
→ P/E: Price-to-Earnings Ratio
→ PC: Prepaid Card
→ PNO: Principal Nodal Officer
→ PF: Provident Fund
→ PPF: Public Provident Fund
→ PP: Priority Pass
→ POS: Point of Sale
→ POP: Point of Purchase
→ PMJDY: Pradhan Mantri Jan-Dhan Yojana (various financial services under this scheme)
→ PSP: Payment Service Provider
⭐️ Q:
→ QR Code: Quick-Response Code
⭐️ R:
→ RB: Retention Bonus
→ RBI: Reserve Bank of India
→ RD: Recurring Deposit
→ RFID: Radio-frequency identification
→ ROA: Return on Assets
→ ROE: Return on Equity
→ ROI: Rate of Interest / Return on Investment
→ RP: Reward Points
→ RTGS: Real Time Gross Settlement
→ RuPay: Portmanteau of Rupee and Payment
⭐️ S:
→ SEC: U.S. Securities and Exchange Commission
→ SCSS: Senior Citizen Savings Scheme
→ SEBI: Securities and Exchange Board of India
→ SIP: Systematic Investment Plan
→ SI: Standing Instruction
→ SOC: Schedule of Charges
→ SOA: Statement of Account
→ SSY: Sukanya Samriddhi Yojana
→ STT: Securities Transaction Tax
→ SWIFT: Society for Worldwide Interbank Financial Telecommunication
⭐️ T:
→ TAN: Tax Deduction and Collection Account Number
→ TCS: Tax Collected at Source
→ TDS: Tax Deducted at Source
→ TIN: Tax Payer Identification Number
→ TARP: Troubled Asset Relief Program
→ Trifecta: 3 popular Credit Cards from 1 bank, esp. AMEX.
⭐️ U:
→ UHNI: Ultra HNI
→ UPI: Unified Payments Interface
⭐️ V:
→ VAT: Value-Added Tax
→ VKYC: Video Know Your Customer
→ VPA: Virtual Payment Address
⭐️ W:
→ WB: Welcome Bonus/Benefit
→ WPI: Wholesale Price Index
⭐️ Y:
→ YTD: Year to Date
→ YTM: Yield to Maturity
🔖 Bookmark this for future reference. This should be enough to refer whenever you come across these terms.
Feel free to add more if I've missed any.
#ccgeek #financial #creditcard #banking #fintech
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