Annual Report

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Date : May 27, 2022
Select Abbreviations
AAC Academic Advisory Council
AACS As Applicable to Cooperative Societies
ACU Asian Clearing Union
AD Authorised Dealer
ADF Asset Development Fund
ADs Aggregate Deposits
AD Cat-I Authorised Dealer Category-I
ADSCR Average Debt Service Coverage Ratio
AEs Advanced Economies
AePS Aadhaar Enabled Payment System
AI Artificial Intelligence
AID All-Inclusive Directions
AIDC Agriculture Infrastructure and Development Cess
AIFs Alternative Investment Funds
AIFIs All India Financial Institutions
AML Anti-Money Laundering
ANBC Adjusted Net Bank Credit
AP Authorised Person
APBS Aadhaar Payment Bridge System
API Application Programming Interface
APLMA Asia Pacific Loan Markets Association
ARCs Asset Reconstruction Companies
AREAER Annual Report on Exchange Arrangements and Exchange Restrictions
ARMS Audit and Risk Management Sub-Committee
ARR Alternative Reference Rate
ASEAN Association of Southeast Asian Nations
ASISO Automated Sweep-In and Sweep-Out
ASM Asia Small and Medium-Sized Enterprise Monitor
ATBs Auction Treasury Bills
ATM Automated Teller Machines
AUM Assets Under Management
BBPOUs Bharat Bill Payment Operating Units
BBPS Bharat Bill Payment System
BCs Business Correspondents
BCBS Basel Committee of Banking Supervision
BC-ICT Business Correspondents - Information and Communication Technology
BCM Business Continuity Management
BCP Business Continuity Plan
BD Banking Department
BE Budget Estimates
BFS Board for Financial Supervision
BFSI Banking, Financial Services and Insurance
BIS Bank for International Settlements
BoJ Bank of Japan
bps Basis Points
BPSS Board for Regulation and Supervision of Payment and Settlement Systems
BQR Bharat Quick Response
BRBNMPL Bharatiya Reserve Bank Note Mudran Private Limited
BRICS Brazil, Russia, India, China and South Africa
B-SC Building Sub-Committee
BTFP BRICS Task Force on Payments
BUs Business Units
CA Concurrent Audit
CAFRAL Centre for Advanced Financial Research and Learning
CAGR Compound Annual Growth Rate
CBDC Central Bank Digital Currency
CBDT Central Board of Direct Taxes
CBIC Central Board of Indirect Taxes and Customs
CC Cash Credit
CCB Committee of the Central Board
CCBs Central Cooperative Banks
CCIL Clearing Corporation of India Limited
CCO Chief Compliance Officer
CCP Central Counterparty
CDES Currency Distribution and Exchange Scheme
CDs Certificates of Deposit
CDS Credit Default Swaps
CEOBE Credit Equivalent of Off-Balance Sheet Exposure
CEPCs Consumer Education and Protection Cells
CEPD Consumer Education and Protection Department
CF Contingency Fund
CFLs Centres for Financial Literacy
CFR Central Fraud Registry
CFSL Centrum Financial Services Limited
CGA Controller General of Accounts
CGD Comprehensive Guidelines on Derivatives
CGFS Committee on the Global Financial System
CGRA Currency and Gold Revaluation Account
CICs Credit Information Companies
CiC Currency in Circulation
CIMS Centralised Information Management System
CIRP Corporate Insolvency Resolution Process
CIT Cash in Transit
CLS Continuous Linked Settlement
CMBs Cash Management Bills
CMGs Crisis Management Groups
CMIE Centre for Monitoring Indian Economy
CMS Complaint Management System
CMT Crisis Management Team
CO Central Office
CoC Committee of Creditors
CODs Central Office Departments
CoFT Card-on-File Tokenisation
ConPI Customer Protection Index
CoS College of Supervisors
CP Consumer Pyramid
CPFIR Central Payments Fraud Information Registry
CPI Consumer Price Index
CPI-AL CPI for Agricultural Labourers
CPI-IW CPI for Industrial Workers
CPI-RL CPI for Rural Labourers
CPMI-IOSCO Committee on Payments and Market Infrastructures-International Organisation of Securities Commissions
CPs Commercial Papers
CPS Centralised Payment System
CPWD Central Public Works Department
CP-NBFCs Commercial Paper Issuances by Non-Banking Financial Companies
CRILC Central Repository of Information on Large Credits
CRM Credit Risk Mitigation
CRPC Centralised Receipt and Processing Centre
CRR Cash Reserve Ratio
CSAA Control Self-Assessment Audit
CSBD Corporate Strategy and Budget Department
CSF Consolidated Sinking Fund
CSGL Centralised Subsidiary General Ledger
CSII Colour Shift Intaglio Ink
CwP Currency with the Public
DAP Di Ammonium Phosphate
DBIE Database on Indian Economy
DBT Direct Benefit Transfer
DCCBs District Central Cooperative Banks
DDs Demand Drafts
DEA Depositor Education and Awareness
DEIO Department of External Investments and Operations
DEPR Department of Economic and Policy Research
DGBA Department of Government and Bank Accounts
DHFL Dewan Housing Finance Ltd.
DICGC Deposit Insurance and Credit Guarantee Corporation
DIF Deposit Insurance Fund
DIT Department of Information Technology
DMS Document Management Software
DoC Department of Communication
DoR Department of Regulation
DoS Department of Supervision
DoT Department of Telecommunications
DPI Digital Payments Index
DPSS Department of Payment and Settlement Systems
DR Disaster Recovery
DSCR Debt Service Coverage Ratio
DSIM Department of Statistics and Information Management
e-BAAT Electronic Banking Awareness and Training
EBITDA Earnings Before Interest, Taxes, Depreciation and Amortisation
EBR Element-Based Repository
ECB External Commercial Borrowings
ECCS Express Cheque Clearing System
ECLGS Emergency Credit Line Guarantee Scheme
ECS Electronic Clearing Service
EDC Executive Directors’ Committee
EDSP Electronic Data Submission Portal
EFD Enforcement Department
EFI External Funded Institutions
EIAD Employee Interface and Analytics Division
EMDEs Emerging Market and Developing Economies
EMEs Emerging Market Economies
eNWRs Electronic Negotiable Warehouse Receipts
EoI Expression of Interest
EPFO Employees’ Provident Fund Organisation
ERM Enterprise-wide Risk Management
ESIC Employees’ State Insurance Corporation
ETCD Exchange Traded Currency Derivatives
ETR Effective Corporate Tax Rate
EWI Early Warning Indicator
EWS Early Warning Signals
EXIM Export Import Bank of India
FAQs Frequently Asked Questions
FAR Fully Accessible Route
FASAL Forecasting Agricultural Output using Space, Agro-Meteorology and Land-based Observations
FATF Financial Action Task Force
FBIL Financial Benchmark India Pvt. Ltd
FCA Foreign Currency Asset
FCBD Finance and Central Bank Deputies
FCBs Foreign Central Bank
FCNR(B) Foreign Currency Non-Resident Account (Bank)
FCS-OIS Foreign Currency Settled Overnight Indexed Swap
FCVA Foreign Exchange Forward Contracts Valuation Account
FC-XV 15th Finance Commission
FCY ECB Foreign Currency External Commercial Borrowings
FDI Foreign Direct Investment
FE Final Estimate
FED Foreign Exchange Department
FEMA Foreign Exchange Management Act
FFMCs Full-Fledged Money Changers
FER Foreign Exchange Reserves
FETERS Foreign Exchange Transactions Electronic Reporting System
FIs Financial Institutions
FICNs Fake Indian Currency Notes
FIDD Financial Inclusion and Development Department
FIF Financial Inclusion Fund
FI-Index Financial Inclusion Index
FinTech Financial Technology
FIPs Financial Inclusion Plans
FLA Foreign Liabilities and Assets
FLCs Financial Literacy Centres
FLW Financial Literacy Week
FMCBG Finance Ministers and Central Bank Governors
FMCG Fast Moving Consumer Goods
FMOD Financial Markets Operations Department
FMRD Financial Markets Regulation Department
FPI Foreign Portfolio Investment
FPOs Follow-on Public Offers
FRB Floating Rate Bonds
FRSB Floating Rate Savings Bonds
FSB Financial Stability Board
FSDC Financial Stability and Development Council
FSDC-SC Financial Stability and Development Council - Sub-Committee
FSR Financial Stability Report
FSU Financial Stability Unit
G-20 Group of Twenty
GC Governing Council
GCCs General Credit Cards
GCF Gross Capital Formation
GDAL Granular Data Access Lab
GDP Gross Domestic Product
GFC Global Financial Crisis
GFCF Gross Fixed Capital Formation
GFD Gross Fiscal Deficit
GFSN Global Financial Safety Net
GML Gold (Metal) Loans
GMS Gold Monetisation Scheme
GNDI Gross National Disposable Income
GNPA Gross Non-Performing Asset
GoI Government of India
GRF Guarantee Redemption Fund
GRIHA Green Rating for Integrated Habitat Assessment
GRQ General Review of Quotas
G-SAP G-sec Acquisition Programme
GSCDCI Global Supply Chain Disruption Cost Index
GSDP Gross State Domestic Product
G-sec Government Securities
GSLBM Government Security Lending and Borrowing Mechanism
GST Goods and Services Taxes
GUARD Governance Oversight, Utile Technology Investment, Appropriate Regulation and Supervision, Robust Collaboration, and Developing necessary IT, cyber security skills set
GVA Gross Value Added
GVCs Global Value Chains
HFCs Housing Finance Companies
HO Head Office
HRMD Human Resource Management Department
HRM-SC Human Resource Management Sub-Committee
IADI International Association of Deposit Insurers
IAMs Integrated Assessment Models
IBA Indian Banks’ Association
IBS International Banking Statistics
ICAI Institute of Chartered Accountants of India
ICAR Indian Council of Agricultural Research
ICEGATE Indian Customs Electronic Gateway
ICT Information and Communication Technology
ID International Department
IDMD Internal Debt Management Department
IEO Independent Evaluation Office
IESH Inflation Expectation Survey of Households
IFA International Financial Architecture
IFA WG International Financial Architecture Working Group
IFSC Indian Financial System Code
IFSCs International Financial Services Centres
IFTAS Indian Financial Technologies and Allied Services
IGBC Indian Green Building Council
IGIDR Indira Gandhi Institute of Development Research
IIASA International Institute for Applied Systems Analysis
IIBM Indian Institute of Bank Management
IIFC India Infrastructure Finance Company
IIP Index of Industrial Production
IMF International Monetary Fund
IMFC International Monetary and Financial Committee
IMPS Immediate Payment Service
Ind-AS Indian Accounting Standards
InvITS Infrastructure Investment Trusts
IO Internal Ombudsman
IOS Industrial Outlook Survey
IoT Internet of Things
IPL Indian Premier League
IPO Initial Public Offering
IPP Intellectual Property Products
IRA Investment Revaluation Accounts
IRACP Income Recognition, Asset Classification and Provisioning
IRA-FS Investment Revaluation Account-Foreign Securities
IRA-RS Investment Revaluation Account-Rupee Securities
IRD Interest Rate Derivatives
IRIS Integrated Risk Monitoring and Incident Reporting System
IRRS Integrated Rajbhasha Reporting System
ISDA International Swaps and Derivatives Association
IT Information Technology
ITES Information Technology-Enabled Services
IT-SC Information Technology Sub-Committee
ITBs Intermediate Treasury Bills
IVR Inter-active Voice Response
IWG Infrastructure Working Group
IWG Internal Working Group
JTCC Joint Technical Coordination Committee
KBC Kaun Banega Crorepati
KLEMS Capital(K), Labour(L), Energy(E), Material(M) and Services(S)
KCC Kisan Credit Card
KPI Key Performance Indicators
KRIs Key Risk Indicators
kWp Kilowatts Peak
KYC Know Your Customer
LAB Local Area Banks
LAF Liquidity Adjustment Facility
LAI Leaf Area Index
LBMA London Bullion Market Association
LEF Large Exposure Framework
LEI Legal Entity Identifier
LEIL Legal Entity Identifier India Ltd.
LEs Legal Entities
LIBOR London Inter-Bank Offered Rate
LMS Learning Management System
LPA Long Period Average
LPG Liquefied Petroleum Gas
LRS Liberalised Remittance Scheme
M3 Money Supply
MAF Medical Assistance Fund
MANI Mobile Aided Note Identifier
MAS Monetary Authority of Singapore
MA-SAAR Moving Average of Seasonally Adjusted Annualised Growth Rate
MCLR Marginal Cost of Funds-based Lending Rate
MD Managing Director
MEM Marginal Effect at Means
MFIs Microfinance Institutions
MI Market Intelligence
MIFOR Mumbai Interbank Forward Outright Rate
MIS Management Information System
ML Machine Learning
MLTGD Medium- and Long-Term Government Deposit
MoE Memorandum of Error
MoF Ministry of Finance
MoSPI Ministry of Statistics and Programme Implementation
MoU Memorandum of Understanding
MPC Monetary Policy Committee
MPOR Margin Period of Risk
MSEs Micro and Small Enterprises
MSF Marginal Standing Facility
MSPs Minimum Support Prices
MTDS Medium-Term Debt Management Strategy
MTF Medium Term Framework
MTSS Money Transfer Service Schemes
NABARD National Bank for Agriculture and Rural Development
NACH National Automated Clearing House
NAFCUB National Federation of Urban Cooperative Banks and Credit Societies Ltd.
NARCL National Asset Reconstruction Company
NBFC Non-Banking Financial Company
NBFC-D Deposit taking NBFCs
NBFC-MFIs Non-Banking Financial Company-Microfinance Institutions
NBFC-ND Non-Deposit taking NBFCs
NBFI Non-Banking Financial Institutions
NCCDs Non-Centrally Cleared Derivatives
NCDs Non-Convertible Debentures
NCFE National Centre for Financial Education
NCLT National Company Law Tribunal
NDA Net Domestic Assets
NDCs Nationally Determined Contributions
NDF Non-Deliverable Forward
NDI Non-Debt Instrument
NDTL Net Demand and Time Liabilities
NDS-OM Negotiated Dealing System-Order Matching
NDVI Normalised Difference Vegetation Index
NEER Nominal Effective Exchange Rate
NEFT National Electronic Funds Transfer
NEM North-east Monsoon
NeTC National Electronic Toll Collection
NETS Network for Electronic Transfers
NFA Net Foreign Assets
NFC Non-Food Credit
NFC Near Field Communication
NFS National Financial Switch
NFSA National Food Security Act
NGFS Network for Greening of the Financial System
NHB National Housing Bank
NIBM National Institute of Bank Management
NIM Net Interest Margin
NIPL NPCI International Private Limited
NOF Net Owned Funds
NPA Note Purchase Agreement
NPA Non-Performing Assets
NPCI National Payments Corporation of India
NPS National Pension Scheme
NSFE National Strategy for Financial Education
NSFI National Strategy for Financial Inclusion
NSSF National Small Savings Fund
NSO National Statistical Office
NWRs Negotiable Warehouse Receipts
OBC Other Backward Classes
OBICUS Order Books, Inventories and Capacity Utilisation Survey
OD Overdraft
ODI Overseas Direct Investment
OECD Organisation for Economic Co-operation and Development
OFC Optical Fibre Cable
OLIC Official Language Implementation Committee
OLS Ordinary Least Squares
OMBs Open Market Borrowings
OMOs Open Market Operations
OPEC Organisation of Petroleum Exporting Countries
OPEC+ Organisation of Petroleum Exporting Countries and allies
ORBIOs Offices of the Reserve Bank of India Ombudsmen
OT Operation Twist
OTC Over the Counter
PA Provisional Accounts
PADO Public Administration, Defence and Other Services
PAT Profit After Tax
PBs Payments Banks
PBDIT Profit Before Depreciation, Interest and Tax
PCA Prompt Corrective Action
PDs Primary Dealers
PDL Polynomial Distributed Lag
PDS Public Distribution System
PFCE Private Final Consumption Expenditure
PFCVA Provision for Forward Contracts Valuation Account
PFMIs Principles for Financial Market Infrastructure
PFMS Public Financial Management System
PIDF Payments Infrastructure Development Fund
PIRP Pre-Packaged Insolvency Resolution Process
PLFS Periodic Labour Force Survey
PLI Production-Linked Incentive
PMC Punjab and Maharashtra Cooperative Bank
PMGKAY Pradhan Mantri Garib Kalyan Anna Yojana
PMI Purchasing Managers’ Index
PML Prevention of Money Laundering
PM SVANidhi Prime Minister Street Vendor’s AatmaNirbhar Nidhi
PPAC Petroleum Planning and Analysis Cell
PO Project Office
POs Payment Orders
POS Point of Sale
PPIs Prepaid Payment Instruments
PRAKALP Pratayaksh Kar Lekhankan Pranali
PSBs Public Sector Banks
PSL Priority Sector Lending
PSLCs Priority Sector Lending Certificates
PSOs Payment System Operators
PSPs Payment Service Providers
PSS Payment and Settlement Systems
PSUs Public Sector Undertakings
PWBD Persons with Benchmark Disabilities
QAD Quality Assurance Division
QIP Qualified Institutional Placement
QPM Quarterly Projection Model
QR Quick Response
RAM-OR Risk Assessment Methodology for Operational Risk
RBA Risk-Based Approach
RBI Reserve Bank of India
RBIA Risk Based Internal Audit
RBIEPF Reserve Bank of India Employees Provident Fund
RBIH Reserve Bank Innovation Hub
RB-IOS Reserve Bank-Integrated Ombudsman Scheme
RBI-RD Reserve Bank of India-Retail Direct
RBP Risk Based Premium
RBR Return-Based Repository
RBS Risk-Based Supervision
RCA Root Cause Analysis
RCG-Asia Regional Consultative Group, Asia
RCL Reliance Capital Ltd
RDG Retail Direct Gilt
RE Revised Estimates
ReBIT Reserve Bank Information Technology Private Limited
RECO Revenue Expenditure to Capital Outlay
REER Real Effective Exchange Rate
REIT Real Estate Investment Trusts
REs Regulated Entities
RFCA Revaluation of Forward Contracts Account
RFID Radio Frequency Identification
RIDF Rural Infrastructure Development Fund
RM Reserve Money
RMC Risk Monitoring Committee
RMD Risk Monitoring Department
ROs Regional Offices
RPA Robotic Process Automation
RRBs Regional Rural Banks
RTGS Real Time Gross Settlement
RTI Right to Information
RTL Risk Tolerance Limits
RTO Recovery Time Objective
RTP Reserve Tranche Position
RT-PCR Reverse Transcription - Polymerase Chain Reaction
SAA Swap Amortisation Account
SAP Systems Applications and Products
SAs Statutory Auditors
SAAR Seasonally Adjusted Annualised Growth Rate
SAARC South Asian Association of Regional Cooperation
SARFAESI Act Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act
SARTTAC South Asian Regional Training and Technical Assistance Centre
SBR Scale-Based Regulation
SBS Shredding and Briquetting Systems
SCAs Statutory Central Auditors
SCBs Scheduled Commercial Banks
SDF Special Drawing Facility
SDG Sustainable Development Goals
SDLs State Development Loans
SDMX Statistical Data and Metadata Exchange
SDRs Special Drawing Rights
SEs Supervised Entities
SEACEN South East Asian Central Banks
SEBI Securities and Exchange Board of India
SEFL SREI Equipment Finance Limited
SEZ Special Economic Zone
SFBs Small Finance Banks
SFG Sustainable Finance Group
SFMS Structured Financial Messaging System
SGB Sovereign Gold Bond
SGL Subsidiary General Ledger
SHGs Self-Help Groups
SIDBI Small Industries Development Bank of India
SIFL SREI Infrastructure Finance Limited
SIOS Services and Infrastructure Outlook Survey
SIP Systematic Investment Plan
SLBC State Level Bankers Committee
SLCCs State Level Coordination Committees
SLD Senior Level Dialogue
SLR Statutory Liquidity Ratio
SLTRO Special Long Term Repo Operation
SMA Special Mention Account
SMEs Small and Medium Enterprises
SOFR Secured Overnight Financing Rate
SONIA Sterling Overnight Index Average
SOP Standard Operating Procedure
SPARSH System of Pension Administration (Raksha)
SPDs Standalone Primary Dealers
SPECTRA Software Platform for External Commercial Borrowings and Trade Credits Reporting and Approval
SPMCIL Security Printing and Minting Corporation of India Limited
SRO Self-Regulatory Organisation
SRS System Requirement Study
S-SC Strategy Sub-Committee
SSCI Services Sector Composite Index
StCBs State Cooperative Banks
STRIPS Separate Trading of Registered Interest and Principal Securities
SWIFT Society for Worldwide Interbank Financial Telecommunication
SWM South-West Monsoon
TACS Technical Advisory Committee in Surveys
T-Bills Treasury Bills
TCs Trade Credits
TEs Training Establishments
TIN Tax Information System
TLTROs Targeted Long Term Repo Operations
TOL/ATNW Total Outside Liabilities-Adjusted
Ratio Tangible Net Worth Ratio
TOP Tomatoes, Onions and Potatoes
TReDS Trade Receivables Discounting System
TSA Treasury Single Account
TSCAs Time-Sensitive Critical Activities
UAM Udyog Aadhaar Memorandum
UAT User Acceptance Testing
UCBs Urban Cooperative Banks
UDAY Ujwal DISCOM Assurance Yojana
UN United Nations
UO Umbrella Organisation
UPI Unified Payment Interface
USFB Unity Small Finance Bank Limited
UTs Union Territories
UTI Unique Transaction Identifier
VaR/ES Value at Risk/Expected Shortfall
VAT Value Added Tax
V-CIP Video-based Customer Identification Process
VFT Value Free Transfer
VIR Visually Impaired Respondents
VM Variation Margin
VRR Voluntary Retention Route
VRRR Variable Rate Reverse Repo
VTAs Voluntary Trading Arrangements
WACR Weighted Average Call Rate
WAM Weighted Average Maturity
WAS Weighted Average Spread
WAY Weighted Average Yield
WLA White Label ATM
WMA Ways and Means Advances
WPI Wholesale Price Index
WTD Whole-Time Director
WTO World Trade Organisation
WWF World-Wide Fund for Nature
XBRL eXtensible Business Reporting Language
ZCYC Zero Coupon Yield Curve
ZTCs Zonal Training Centres