Banking Abbreviations

Indian Institute of Bank Management (IIBM), formerly known as North Eastern Institute of Bank Management, is an autonomous institute, sponsored by Reserve Bank of India, NABARD, State Bank of India, UCO Bank, Central Bank of India, Union Bank of India and Indian Bank.

Indian Banks’ Association (IBA), formed on (26 September 1946) as a representative body of management of banking in India operating in India – an association of Indian banks and financial institutions based in Mumbai. With an initial membership representing 22 banks in India in 1946, IBA currently represents 247 banking companies operating in India. IBA was formed for development, coordination and strengthening of Indian banking, and assist the member banks in various ways including implementation of new systems and adoption of standards among the members.

India Infrastructure Finance Company Limited (IIFCL) was incorporated under the Companies Act as a wholly-owned Government of India company in January 2006 and commenced operations from April 2006 to provide long term finance to viable infrastructure projects through the Scheme for Financing Viable Infrastructure Projects through a Special Purpose Vehicle called India Infrastructure Finance Company Ltd (IIFCL), broadly referred to as SIFTI.

Core Banking Solution (CBS) is the networking of bank branches, which allows customers to manage their accounts, and use various banking facilities from any part of the world. In simple terms, there is no need to visit your own branch to do banking transactions. You can do it from any location, any time.

Central Cooperative Bank founded on 28 March 1991 is a universal commercial bank in Sofia, Bulgaria, belonging to the financial structure of CCB Group. It is listed on the Bulgarian Stock Exchange.

Cash credit is a facility to withdraw money from a current bank account without having credit balance but limited to the extent of borrowing limit, which is fixed by the commercial bank. The interest in this facility is not charged on the borrowing limit, which is given by the bank but on the daily closing balance.

BBR stands for Bank Base rate. Base rate is the minimum rate set by the Reserve Bank of India below which banks are not allowed to lend to its customers.

Bank of India (BOI) is an Indian nationalised bank. It is under the ownership of Ministry of Finance, Government of India with headquarters in Bandra Kurla Complex, Mumbai. Founded in 1906, it has been government-owned since nationalisation in 1969. BoI is a founder member of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications), which facilitates provision of cost-effective financial processing and communication services.

A land development bank abbreviated LDB, is a special kind of bank in India, and is of quasi-commercial type that provides services such as accepting deposits, making business loans, and offering basic investment products. The main objective of the LDB is to promote the development of land, agriculture and increase the agricultural production. The LDB provides long-term finance to members directly through its branches.

A Federal Reserve Bank is a regional bank of the Federal Reserve System, the central banking system of the United States. There are twelve in total, one for each of the twelve Federal Reserve Districts that were created by the Federal Reserve Act of 1913.