Banking Abbreviations MCQ questions and answers | GK Abbreviations

Tax information exchange agreements (TIEA) provide for the exchange of information on request relating to a specific criminal or civil tax investigation or civil tax matters under investigation. A model TIEA was developed by the OECD Global Forum Working Group on Effective Exchange of Information.

Statutory Liquidity Ratio or SLR is a minimum percentage of deposits that a commercial bank has to maintain in the form of liquid cash, gold or other securities. It is basically the reserve requirement that banks are expected to keep before offering credit to customers.

State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra. SBI is the 43rd largest bank in the world and ranked 221st in the Fortune Global 500 list of the world's biggest corporations of 2020, being the only Indian bank on the list.

Special Deposit Scheme (SDS) was launched by the Central government on July 1, 1975. The purpose of the scheme was to provide better returns to non-government provident funds, superannuation and gratuity funds, surplus funds of the Life Insurance Corporation (LIC) and Employees' State Insurance Corporation, etc.

Scheduled Commercial Bank(SCB) means a Scheduled Bank as listed in the Second Schedule of the Reserve Bank of India Act, 1934, excluding those listed under the headings of Gramin Banks, Urban Co-operative Banks and State Cooperative Banks.

Punjab National Bank, abbreviated as PNB, is an Indian nationalised bank. Its headquarters are in New Delhi, India. It is under the ownership of Ministry of Finance , Government of India . The bank was founded in May 1894 and is the second largest government-owned bank in India, both in terms of its business volumes and its network.

National Electronic Funds Transfer (NEFT) is a mode of online funds transfer that is introduced by the Reserve Bank of India (RBI). It quickly transfers money between banks throughout India. A bank branch must be NEFT-enabled for a customer to be able to transfer the funds to another party.

National Common Mobility Card, is an inter-operable transport card conceived by the Ministry of Housing and Urban Affairs of the Government of India. It was launched on 4 March 2019. The transport card enables the user to pay for travel, toll duties, retail shopping and withdraw money.

National Bank for Agriculture and Rural Development (NABARD) is an apex regulatory body for overall regulation of regional rural banks and apex cooperative banks in India. It is under the jurisdiction of Ministry of Finance , Government of India.

Life Insurance Corporation of India (abbreviated as LIC) is an Indian statutory insurance and investment corporation. It is under the ownership of Ministry of Finance , Government of India .