| 5G | Fifth Generation |
| A2A | Account-to-account |
| AA | Account Aggregator |
| AD | Authorised Dealer |
| ADB | Asian Development Bank |
| AE | Advanced Economy |
| AePS | Aadhar Enabled Payment System |
| AFA | Additional Factor of Authentication |
| AGR | Alternate Grievance Redress |
| AI | Artificial Intelligence |
| AML | Anti Money Laundering |
| AML/CFT | Anti-Money Laundering and Combating the Financing of Terrorism |
| APBS | Aadhaar Payments Bridge System |
| API | Application Programming Interface |
| APR | Annual Percentage Rate |
| AR | Augmented Reality |
| ARDI | Annual Report Digitalisation Index |
| ARDL | Autoregressive Distributed Lag |
| ASAG | Advanced Supervisory Analytics Group |
| ASEAN | Association of Southeast Asian Nations |
| ASUSE | Annual Survey of Unincorporated Sector Enterprises |
| ATM | Automated Teller Machine |
| B2B | Business-to-business |
| B2C | Business-to-consumer |
| BAU | Business as Usual |
| BBPOU | Bharat Bill Payment Operating Unit |
| BBPS | Bharat Bill Payment System |
| BCBS | Basel Committee on Banking Supervision |
| BFSI | Banking, Financial Services and Insurance |
| BHIM | Bharat Interface for Money |
| BigTech | Large Technology Company |
| BIS | Bank for International Settlements |
| BNPL | Buy Now Pay Later |
| BoP | Balance of Payment |
| BPSS | Board for Regulation and Supervision of Payment and Settlement System |
| BRICS | Brazil, Russia, India, China and South Africa |
| BSA | Bilateral Swap Agreement |
| C-DOT | Centre for Development of Telematics |
| CASA | Current Account Saving Account |
| C2B | Consumer-to-business |
| C2C | Consumer-to-consumer |
| CAGR | Compound Annual Growth Rate |
| CBDC | Central Bank Digital Currency |
| CBDC-R | Central Bank Digital Currency-Retail |
| CBDC-W | Central Bank Digital Currency-Wholesale |
| CBS | Core Banking Solutions |
| CBUAE | Central Bank of the UAE |
| CCIL | Clearing Corporation of India Limited |
| CCPA | Central Consumer Protection Authority |
| CD | Certificate of Deposit |
| CECPA | Comprehensive Economic Cooperation and Partnership Agreement |
| CEPA | Comprehensive Economic Partnership Agreement |
| CERT-In | Indian Computer Emergency Response Team |
| CFL | Centre for Financial Literacy |
| CiC | Currency in Circulation |
| CIMS | Centralised Information Management System |
| CLS | Continuous Linked Settlement |
| CoFT | Card-on-File Tokenisation |
| CoWIN | COVID-19 Vaccine Intelligence Network |
| CPMI | Committee on Payments and Market Infrastructures |
| CPMI-IOSCO | Committee on Payments and Market Infrastructures - International Organisation of Securities Commissions |
| CPS | Centralised Payment System |
| CRPC | Centralised Receipt and Processing Centre |
| CTS | Cheque Truncation System |
| DBT | Direct Benefit Transfer |
| DBU | Digital Banking Unit |
| DEA | Data Envelopment Analysis |
| DEA | Digital Economy Agreement |
| DeFi | Decentralized Finance |
| DEPA | Data Empowerment and Protection Architecture |
| DFS | Digital Financial Services |
| DGFT | Directorate General of Foreign Trade |
| DIGIT | Digital Infrastructure for Governance, Impact and Transformation |
| DILRMP | Digital India Land Records Modernisation Programme |
| DIP | Digital Intermediation Platform |
| DLAI | Digital Lenders Association of India |
| DLG | Default Loss Gurantee |
| DLT | Distributed Ledger Technology |
| DNA | Data-Network-Activity |
| DP | Digital Payments |
| DPDPA | Digital Personal Data Protection Act |
| DPG | Digital Public Goods |
| DPI | Digital Public Infrastructure |
| DPI | Digital Payment Index |
| DPIIT | Department for Promotion of Industry and Internal Trade |
| DSGE | Dynamic Stochastic General Equilibrium |
| DSL | Digital Subscriber Line |
| DSTRI | Digital Services Trade Restrictiveness Index |
| DSUT | Digital Supply and Use Tables |
| e-BAAT | Electronic Banking Awareness and Training |
| e-Commerce | Electronic Commerce |
| e-KYC | Electronic Know Your Customer |
| e-NAM | Electronic-National Agricultural Market |
| EASE | Enhanced Access and Service Excellence |
| ECS | Electronic Clearing Service |
| EDDPE | Expanding and Deepening of Digital Payment Ecosystem |
| EFT | Electronic Funds Transfer |
| EM | Emerging Market |
| EMD | Earnest Money Deposit |
| EMDE | Emerging Market and Developing Economy |
| EME | Emerging Market Economy |
| EMI | Equated Monthly Instalment |
| EU | European Union |
| EUR | Euro |
| EV | Electric Vehicle |
| FACE | FinTech Association for Consumer Empowerment |
| FATF | Financial Action Task Force |
| FDI | Foreign Direct Investment |
| FE | Fixed Effects |
| FEMA | Foreign Exchange Management Act |
| FI | Financial Institution |
| FI-Index | Financial Inclusion Index |
| FIMMDA | Fixed Income Money Market and Derivatives Association of India |
| FinTech | Financial Technology |
| FIP | Financial Information Provider |
| FIRE | Format for Incident Reporting Exchange |
| FIT | Flexible Inflation Targeting |
| FIU | Financial Information User |
| FL | Financial Literacy |
| FPS | Fast Payment System |
| FSB | Financial Stability Board |
| FSDC-SC | Financial Stability and Development Council Sub-Committee |
| FX | Foreign Exchange |
| G-sec | Government Securities |
| G20 | Group of 20 |
| G2B | Government-to-business |
| G2C | Government-to-consumer |
| G2P | Government-to-person |
| G7 | Group of Seven |
| GB | Gigabyte |
| GBIEM | Global Bond Index for Emerging Markets |
| GBP | Great British Pound |
| GCC | Global Capability Centre |
| GDP | Gross Domestic Product |
| GDPR | General Data Protection Regulation |
| GeM | Government Electronic Marketplace |
| GenAI | Generative Artifical Intelligence |
| GFC | Global Financial Crisis |
| GFCF | Gross Fixed Capital Formation |
| GIFT | Gujarat International Finance Technology-City |
| GIFT | Global Interchange for Financial Transactions |
| GIS | Geographic Information System |
| GoI | Government of India |
| GPRS | General Packet Radio Service |
| GST | Goods and Services Tax |
| GSTN | Goods and Services Tax Network |
| GVA | Gross Value Added |
| GVC | Global Value Chain |
| GW | Giga Watt |
| HHI | Herfindahl-Hirschman Index |
| HPJ | Half-Panel Jackknife |
| IAMAI | Internet and Mobile Association of India |
| IBCC | Indian Banking Community Cloud |
| ICAAP | Internal Capital Adequacy Assessment Process |
| ICMTS | Integrated Compliance Management and Tracking System |
| ICT | Information and Communications Technology |
| ID | Identification |
| IDRBT | Institute for Development and Research in Banking Technology |
| IFAD | International Fund for Agricultural Development |
| IFSC | International Financial Services Centre |
| IFSCA | International Financial Services Centres Authority |
| IFTAS | Indian Financial Technology and Allied Services |
| ILO | International Labor Organization |
| IMF | International Monetary Fund |
| IMPS | Immediate Payment Service |
| INFINET | Indian Financial Network |
| INR | Indian Rupee |
| IoRS | Interoperable Regulatory Sandbox |
| IoT | Internet of Things |
| IPP | Instant Payment Platform |
| IPR | Intellectual Property Right |
| IRDAI | Insurance Regulatory and Development Authority of India |
| IRTG | Inter-Regulatory Technical Group |
| ISO | International Organization for Standardization |
| IT | Information Technology |
| JAM | Jan Dhan-Aadhaar-Mobile |
| KCC | Kisan Credit Card |
| KFS | Key Fact Statement |
| KLEMS | Capital (K), Labour (L), Energy (E), Materials (M) and Services (S) |
| KYC | Know Your Customer |
| LAN | Local Area Network |
| LA | Loan Agent |
| LCS | Local Currency Settlement |
| LDA | Latent Dirichlet Allocation |
| LDE | Loss Data Exchange |
| LEI | Legal Entity Identifier |
| LFPR | Labour Force Participation Rate |
| LLM | Large Language Model |
| LMIC | Low- and Middle-Income Country |
| LSP | Lending Service Provider |
| M0 | Reserve Money |
| M1 | Narrow Money |
| M3 | Broad Money |
| Mbps | Megabits Per Second |
| mCBDC | Multiple Central Bank Digital Currency |
| MeitY | Ministry of Electronics and Information Technology |
| MICR | Magnetic Ink Character Recognition |
| ML | Machine Learning |
| MOSIP | Modular Open Source Identity Platform |
| MoU | Memorandum of Understanding |
| MPI | Multidimentional Poverty Index |
| MSME | Micro, Small and Medium Enterprise |
| MTO | Money Transfer Operator |
| MW | Mega Watt |
| NACH | National Automated Clearing House |
| NASSCOM | National Association of Software and Services Companies |
| NBBL | NPCI Bharat BillPay Limited |
| NBFC | Non-Banking Financial Company |
| NBFC-HFC | Non-Banking Financial Company - Housing Finance Company |
| NBFC-ICC | Non-Banking Financial Company - Investment and Credit Company |
| NBFC-MFI | Non-Banking Financial Company - Micro Finance Institution |
| NCFE | National Centre for Financial Education |
| NDP | Net Domestic Product |
| NDS-OM | Negotiated Dealing System - Order Matching |
| NEFT | National Electronic Funds Transfer |
| NeGP-A | National e-Governance Plan in Agriculture |
| NETC | National Electronic Toll Collection |
| NFC | Near Field Communication |
| NFS | National Financial Switch |
| NGCH | National Grid Clearing House |
| NIM | Net Interest Margin |
| NIPL | NPCI International Payments Limited |
| NIS | National Innovation System |
| NKPC | New Keynesian Phillips Curve |
| NLP | Natural Language Processing |
| NPCI | National Payments Corporation of India |
| NPI | National Payments Interface |
| NSE | National Stock Exchange |
| NSO | National Statistical Office |
| OCEN | Open Credit Enablement Network |
| OECD | Organisation for Economic Co-operation and Development |
| OFC | Optical Fibre Cable |
| OLS | Ordinary Least Squares |
| ONDC | Open Network for Digital Commerce |
| ORBIOs | Offices of RBI Ombudsman |
| OTC | Over the Counter |
| P2B | Person-to-business |
| P2M | Peer-to-merchant/Person-to-merchant |
| P2P | Peer-to-peer/Person-to-person |
| PA | Payment Aggregator |
| PDAI | Primary Dealers’ Association of India |
| PFRDA | Pension Fund Regulatory and Development Authority |
| PG | Payment Gateway |
| PIDF | Payment Infrastructure Development Fund |
| PLI | Production Linked Incentive |
| PMJDY | Pradhan Mantri Jan Dhan Yojana |
| PoC | Proof of Concept |
| PoS | Point of Sale |
| PPI | Prepaid Payment Instrument |
| PPI-MTS | Prepaid Payment Instruments-Mass Transit System |
| PPF | Public Provident Fund |
| PRAVAAH | Platform for Regulatory Application, Validation and Authorisation |
| PSBA | PSB Alliance |
| PSO | Payment System Operator |
| PSP | Payment Service Provider |
| PSS Act | Payment and Settlement Systems Act |
| PSTN | Public Switched Telephone Network |
| PTPFC | Public Tech Platform for Frictionless Credit |
| PVB | Private Bank |
| PvP | Payment versus Payment |
| PwC | Pricewaterhouse Coopers |
| QR | Quick Response |
| RBI | Reserve Bank of India |
| RB-IOS | Reserve Bank-Integrated Ombudsman Scheme |
| RBIH | Reserve Bank Innovation Hub |
| RCA | Revealed Comparative Advantage |
| RegTech | Regulatory Technology |
| RE | Regulated Entity |
| RoA | Return on Assets |
| RPC | Regional Payment Connectivity |
| RRB | Regional Rural Bank |
| RTA | Regional Trade Agreement |
| RTGS | Real Time Gross Settlement |
| RTP | Real-time Payment |
| RS | Regulatory Sandbox |
| S-SOC | Sectoral Security Operations Centre |
| SAARC | South Asian Association for Regional Cooperation |
| SaaS | Software as a Service |
| SCB | Scheduled Commercial Bank |
| SDG | Sustainable Development Goal |
| SEBI | Securities and Exchange Board of India |
| SFB | Small Finance Bank |
| SFMS | Structured Financial Messaging System |
| SGD | Singapore Dollar |
| SLBC | State Level Bankers’ Committee |
| SME | Small and Medium Enterprise |
| SMS | Short Message Service |
| SNA | System of National Accounts |
| SRO | Self-Regulatory Organisation |
| SRO-FT | Self-Regulatory Organisation for FinTech Sector |
| SRVA | Special Rupee Vostro Account |
| STP | Straight Through Process |
| SupTech | Supervisory Technology |
| SWIFT | Society for Worldwide Interbank Financial Telecommunication |
| TAPED | Trade Agreement Provisions on Electronic-commerce and Data |
| TFP | Total Factor Productivity |
| TPAP | Third-party Application Provider |
| TPSP | Third-party Service Provider |
| TRAI | Telecom Regulatory Authority of India |
| TReDS | Trade Receivables Discounting System |
| TSP | Technology Service Providers |
| UAE | United Arab Emirates |
| UN | United Nations |
| UNCTAD | United Nations Conference on Trade and Development |
| UNDP | United Nations Development Programme |
| UNEP | United Nations Environment Programme |
| UPI | Unified Payments Interface |
| US | United States |
| USD | US Dollar |
| USSD | Unstructured Supplementary Service Data |
| UT | Union Territory |
| UTLBC | Union Territory Level Bankers’ Committee |
| VR | Virtual Reality |
| WEF | World Economic Forum |
| WTO | World Trade Organisation |
| YTD | Year till Date |