Explore topic-wise InterviewSolutions in .

CAIIB: Certified Associate of Indian Institute of Bankers

The full form of CAIIB is Certified Associate of Indian Institute of Bankers. It is an exam conducted by the Indian Institute of Banking and Finance (IIBF) twice a year to test the proficiency of advanced aspects of general banking management and decision making. The exam is held once in May and once in November of every year. Only candidates who are members of the Indian Institute of Banking and Finance (IIBF) are allowed to appear for the exam. A candidate applying for CAIIB must have completed JAIIB. Indian Institute of Banking and Finance is established in 1928 and it includes more than 700 banks and financial institutes. This certificate course widely recognized across the banking industry. The aspirants include employees of RBI, NABARD, SIDBI and all commercial banks, cooperative banks and Regional Rural Banks. The candidates get benefits from their employers in the form of incentives, increments, and promotions after passing the CAIIB exam.

BHIM: Bharat Interface for Money

The full form of BHIM is Bharat Interface for Money.BHIM App is a mobile app launched by the National Payment Corporation of India (NPCI), a Government of India undertaking for financial transactions. Bharat Interface for Money (BHIM) was introduced in the year 2016 to promote digital payments. The software of this app can be used without the internet.

Features and Benefits of BHIM

• Send and Request Money: This feature enables a user to send money using Virtual Payment Address (VPA) or combination of Account Number and IFSC or even by scanning QR code
• Scan and Pay: In this feature user can pay by scanning the QR code. User can generate QR code by clicking on receive the payment option.
• Transactions: This option allows a user to check transaction history. It also highlights pending UPI collect requests (if any) so that a user can approve or reject the payment requests.
• Profile: User can view the static QR code and payment addresses and share the QR code through various messenger applications like WhatsApp, Email, etc.
• Bank account: Using this Option, a customer can check the bank account which is linked with the BHIM App along with PIN status.
• Multi language: This app is available in regional languages ​​to improve user experience.
• Block user: A person can block users who are frequently sending collect requests.

What is the full form of NPA?

The full form of NPA is “Non Performing Assets”. NPA is also called a bad loan. It refers to a mortgage or advance in respect of which the interest or principal payment has been overdue for ninety days. This 90 Days duration is the standard time frame. It is called as Non Performing Assets (NPA) bank assets (loans or advances given to customers) which are not performing (no return).

A bank has given a loan of ₹5 lakh to a company, in which interest is paid only ₹2500 per month. If the company fails to make payments for three consecutive months (90 days), the bank is required to classify this loan as an NPA to meet regulatory requirements. Alternatively, a loan can also be categorized as nonperforming if a company makes all interest payments but cannot repay the principal at maturity. NPAs impose a burden on the lenders in the form of non-payment of interest or reduced cash flow for the principal lender. This constrains the budget and slashes earnings and reduces the capital to be provided for subsequent loans.

Other full forms of NPA

The full form of IMPS is Immediate Payment Service. As the IMPS full form suggests, it is the fastest and anytime available money transfer service in the Indian banking system. It transfers funds instantly into the beneficiary’s bank account and is available 24/7, 365 days. Immediate Payment Service (IMPS) offers an inter-bank electronic fund transfer service through mobile phones. It is built on the National Financial Switch (NFS), managed by NPCI (National Payments Corporation of India), and approved by the Reserve Bank of India (RBI).

Most people often confuse it with other modes of fund transfer like NEFT and RTGS and do not know the full form of IMPS or its features. But it is completely different from the other two. It is an inter-bank electronic fund transfer system that uses mobile phones as a platform for the transfer process. Unlike NEFT and RTGS, the service is available 24/7 throughout the year including bank holidays.

Table of Contents

1. What is the full form of ICICI?
   1. Products and Services

What is the full form of ICICI?

In Banking ICICI stands for “Industrial Credit and Investment Corporation of India”. It is India’s premier banking and financial services institution. It is the third-largest bank in India. ICICI was started in 1955 by the initiative of the World Bank. The main purpose of its establishment was to forward short- and long-term finances to Indian businesses. The headquarter of the bank is at Mumbai, Maharashtra and its registered office is at Vadodara, Gujarat. The bank has subsidiaries in the United Kingdom and Canada. Branches in USA, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar, Oman, Dubai International Finance Centre, China and South Africa.

Industrial Credit and Investment Corporation of India (ICICI) offers a huge array of banking and non-banking financial products to its large customer base. Some of the popular ICICI Bank products and services are listed below:

• Cards: Credit cards, debit cards and business cards.
• Loan: Loans like Home Loan, Personal Loan, Car Loan and Two-Wheeler Loan.
• Insurance: General Insurance Insurance like , health insurance and life insurance.
• Deposit Schemes: Deposit schemes like Fixed Deposit (FD) and Recurring Deposit (RD).
• Business Banking: which includes a wide range of Current Account products, Internet Banking and Mobile Banking.
• Personal Banking: Debit Cards, Credit Cards and Internet Banking such as Provides savings account with various benefits.

Table of Contents

1. What is UPI in Banking?
2. Diffrence between NEFT, RTGS, IMPS & UPI

The full form of UPI is Unified Payment Interface. UPI is an instant real-time payment system developed by National Payments Corporation of India (NPCI) facilitating inter-bank transactions. The interface is regulated by the Reserve Bank of India (RBI) and works by instantly transferring funds between two bank accounts on a mobile platform. UPI was launched in 2016. It is simple, free of charge and instantaneous.

What is UPI in Banking?

UPI is a single platform that merges various banking services and features under one umbrella. A UPI ID and PIN are sufficient to send and receive money. Real-time bank-to-bank payments can be made using a mobile number or virtual payment address (that reads something like [email protected]). It is simple, free of charge and instantaneous. Unlike NEFT and RTGS, the service is available 24/7 throughout the year including bank holidays.

Diffrence between NEFT, RTGS, IMPS & UPI

Table of Contents

1. How to create a VPA?
2. Difference between VPA and UPI
3. VPA suffixes of some common banks

A virtual payment address (VPA) is an identifier that can be uniquely mapped to an individual account. It is an ID, which a user creates by linking their accounts to a bank’s mobile application.Unified Payment Interface (UPI) services offer customers the option to create any number of VPAs for making and receiving payments.

How to create a VPA?

• Download the UPI app from your bank. In fact, you can download the UPI app of any bank, for this you do not need to be your own bank. Your bank must have UPI enabled. Currently 23 banks are a part of UPI.
• Link it to a bank account through your mobile number. Use the mobile number which is already registered at your bank.
• You’ll have to go through a mobile verification process, after which follows another verification round. This verification can be a security question, a grid or any such authentication technique.
• Once the final authentication is done, create a VPA for the account you provided.
• A VPA looks like [email protected]icici. You can check for availability and make one as you wish. This VPA is linked to your bank account.
• You can submit to create a VPA.

Difference between VPA and UPI

A VPA or a Handle is a unique identifier for your account which allows to identify your transactions as exclusively yours. On the other hand, UPI is the service that creates these handles and allows you to make payments.

UPI enables bank account holders (of banks participating in UPI) to send and receive money using a Virtual Payment Address (VPA) without entering additional bank information like account number and IFSC code. On the other hand, A VPA is an ID, that a user creates by linking their accounts to a bank’s mobile application. In simple to start using UPI as a payment option, all you need is a VPA.

VPA suffixes of some common banks

1) RBL: Ratnakar Bank Limited

The full form of RBL is Ratnakar Bank Limited. RBL is a private sector scheduled commercial bank based in the Kolhapur region of Maharashtra, India. It was established in August 1943, one of the oldest private banks in India. Currently, it serves approximately 3.5 million customers through its network of 372 branches and 394 ATMs. Its vision is to be a bank of choice, developing and maintaining long-lasting relationships through the trust and respect of clients, employees and investors. The bank administered a financial education program called Saksham in collaboration with CDC to provide education to the villages of Ahmedabad and Madhya Pradesh. In March 2020, Mr. Vishwavir Ahuja is the MD and CEO of RBL. It offers a wide range of banking products and services in six vertical sectors:

• Corporate & Institutional Banking
• Branch & Business Banking
• Commercial Banking
• Agribusiness Banking
• Development Banking and Financial Inclusion
• Treasury and Financial Markets Operations

2) RBL: Realtime Blackhole List

In the Internet, RBL stands for Realtime Blackhole List. Also known as the DNS Blacklist (DNSBL). Realtime Blackhole List (RBL) is a list of IP addresses whose owners refuse to stop the proliferation of spam. The RBL generally lists the server IP addresses of the ISPs whose clients are responsible for spam and the ISPs whose servers are hijacked to transmit spam. Most spam is the result of online advertisements and unsolicited bulk emails (UBE). Most traffic blocks occur during the SMTP connection phase. When spam is delivered, the forwarding IP address is added to the RBL. The RBL was first implemented by MAPS (Mail Abuse Prevention System).

Other full forms of RBL

MCLR: Marginal Cost of funds based Lending Rate

The full form of MCLR is “Marginal Cost of funds based Lending Rate“. MCLR is the minimum loan rate below which a bank cannot lend, except in some cases. It is a methodology introduced by the Reserve Bank of India (RBI) on April 1, 2016 to define the interest rate for commercial bank loans. It replaced the old base rate system method, which was introduced in July 2010 to determine lending rates for commercial banks. Floating rate loans are tied to the MCLR rate from April 1, 2016. Home loans and loans against property schemes are generally floating rate loans and are compared to MCLR rates. The basic objective of the MCLR is to pass on the benefit of changes in interest rates to the ultimate borrower.

The marginal cost of funds based lending rate (MCLR) is based on four components: the marginal cost of funds, the tenor premium, operating expenses and the cash reserve ratio (CRR). The term is the amount of time a borrower has to repay the loan. The tenor premium is the same for all types of loans. The marginal cost of funds refers to the increase in financial costs for a commercial entity when another rupee increases with the new financing. Operating expenses include the cost of raising funds, but do not take into account costs that are separately recovered through service charges. CRR occurs when the actual return is less than the cost of the funds. This will affect the required balance of the Statutory Liquidity Ratio (SLR) that all commercial banks must maintain.

Other full forms of MCLR

JAIIB: Junior Associate of Indian Institute of Bankers

The full form of JAIIB is Junior Associate of Indian Institute of Bankers. It is an exam conducted by the Indian Institute of Banking and Finance (IIBF) to test the basic knowledge of candidates in the Banking and Finance sector. Only candidates who are members of the IIBF are allowed to appear for the exam. JAIIB aims at providing the required level of basic knowledge in banking and financial services, banking technology, customer relations, basic accountancy and legal aspects necessary for carrying out day to day banking operations.

The Junior Associate of Indian Institute of Bankers (JAIIB) examination will be conducted normally twice a year in May / June and November / December on three consecutive Sundays, i.e. one paper on each Sunday. Each paper contains around 120 objective type questions. The duration of the paper is two hours and it carries 100 marks. The minimum marks required for passing each subject or paper is 50 out of 100 marks. Candidate should clear all subjects in JAIIB examination in a single attempt. It is conducted in English or Hindi in online mode at the majority of centers and in offline mode at selected centers based on the notification given on its website. Candidates will be required to pass JAIIB examination within a time limit of 2 years (i.e. 4 consecutive attempts).

IDBI: Industrial Development Bank of India

The full form of IDBI is “Industrial Development Bank of India“. It is a financial services company owned by the Indian government, Created in 1964 to provide credit and other financial facilities for the development of the Indian industry. Its headquarter is located in Mumbai. IDBI was an Act to provide credit and other financial facilities for the development of the fledgling Indian industry. Many institutes of national importance have their roots in IDBI, such as SIDBI, Exim Bank, NSE, and NSDL. It raises funds through loans in the bond and deposit market, government loans and RBI, foreign loans in foreign currency and lines of credit.

Initially, the Industrial Development Bank of India (IDBI) was operated as a subsidiary of the Reserve Bank of India, and then the RBI transferred it to the government of India. On June 29, 2018, LIC obtained technical approval from IRDAI to increase its holding in IDBI Bank by up to 51%. LIC completed the acquisition of 51% of the company’s control on January 21, 2019, becoming the majority shareholder of IDBI Bank. The main objectives of IDBI are to create the main institution for long-term financing, to coordinate with the institutions that work in this field for the planned development of the industrial sector. Its vision is to be a highly preferred and reliable bank, enhancing the value for all stakeholders. On March 5, 2020, Rakesh Sharma is the MD and CEO of IDBI.

IBPS: Institute of Banking Personnel Selection

The full form of IBPS is Institute of Banking Personnel Selection. It is an autonomous agency set up with a system for recruitment, promotion and placement services for banking industries in India. It has been started in the year 1975. Initially, its name was PSS (Personnel Selection Services). In the year 1984, it became an independent identity. IBPS conducts a Common Written Examination (CWE) to the candidates who are willing to work in public sector Banks (other than the SBI) and Regional Rural banks all over India. It is based in Mumbai, India. Its vision is to develop and implement world-class processes and systems for the assessment and selection of personnel in a fair manner for client organizations and conduct relevant research and publicize the results.

The eligibility criterion for the IBPS CWE PO exam is a graduation degree in any of the streams such as BA, B.Com, BSc, etc., from a recognized university. The percentage of marks obtained in Graduation should be mentioned at the time of registration for the IBPS Bank-PO examination. Candidates must be between 20 to 30 years. Age relaxation of five, three and ten years is given to SC/ ST, OBC (non-creamy layer), and PwD candidates, respectively.

Other full forms of IBPS

• International Black Plant Society
• Intelligent Battery and Power System
• Inter Bank Payment System
• International Buddhist Progress Society
• International Best Practice Standards
• India BPO Promotion Scheme
• Institut de Biologie Paris Seine
• Internet Banking Payment System
• Internet Based Purchasing System
• International Best Practice Standards

EMI: Equated Monthly Installment

Other full forms of EMI

1) CTS: Cheque Truncation System

The full form of CTS is Cheque Truncation System. A Cheque Truncation System (CTS) is a cheque clearing system undertaken by the Reserve Bank of India (RBI) for faster clearing of cheques. As the name suggests, truncation is the process of stopping the flow of the physical cheque in its way of clearing. In its place an electronic image of the cheque along with MICR number is sent to the drawee bank from the drawer bank.

The biggest advantage is that CTS-compliant cheques are more secure than old cheques and, hence, less prone to frauds. Also, as the system matures, it is proposed to integrate multiple locations and reduce geographical restrictions in cheque clearing. Hence going forward, there are chances of multi-city cheques getting cleared on the same day.

2) CTS: Clear to Send

Another full form of CTS is Clear to Send. It is a flow control signal or mechanism in RS-232 standard. It indicates that a line or device is ready for data transmission e.g. ready to move. It makes use of two further pins on the RS232 connector. CTS signal is sent in response to RTS (Request of Send) flow control signal. The RTS signal is sent by the sending device to tell the receiving end to get ready to receive or set its CTS line when it is ready. When the receiving end is ready to receive, it sends the CTS signal to tell the other end to send the data. Thus, CTS and RTS allow the receiver and the transmitter to alert each other before initiating the data transmission. The advantage to this approach is that damaging data in transit does not affect the flow control mechanism (as in Xon/Xoff).

3) Other Full Forms of CTS

APBS: Aadhaar Payment Bridge System

The full form of APBS is Aadhaar Payment Bridge System. It is a payment system based on Aadhaar numbers issued by UIDAI & IIN (Institution Identification Number) and implemented by NPCI. Aadhaar Payment Bridge System (APBS) is used for credit transactions for Government or Government agency disbursements of benefits and subsidies under Direct Benefit Transfer (DBT) scheme launched by the Government of India. For example, APBS is used for the transfer of LPG subsidy. Main benefit of APBS is to sub-serve the goal of Government of India (GOI) and RBI in furthering Financial Inclusion by way of processing government disbursement using Aadhaar number.

• Banks can upload/download transaction files through secured web access.
• Banks can get connect to NPCI either through NPCINet or Internet.
• Transaction routing on the basis of IIN issued by NPCI.
• Transaction processing by destination banks on the basis of Aadhaar numbers.
• It supports ISO 20022 messaging standards.
• It supports multiple intraday sessions.
• It provides Direct Corporate Access (DCA) to Government Departments and Agencies.
• It provides online Dispute Management System (DMS).
• It is capable to handle 10 million transactions per day.
• It can process both onus and offus transactions.
• It makes available enriched MIS to all the participants.
• It provides secure Clearing and Settlement process.

Other full forms of APBS

ADB: Asian Development Bank

The full form of ADB is Asian Development Bank. It is a financial institution that promotes economic and social progress in the Asia-Pacific region. It was established to reduce poverty and foster economic growth and cooperation in Asia and the Pacific. It assists in the socio-economic development in member countries by providing loans, grants and technical assistance. It has 67 members, 48 of which are from Asia and the Pacific region. After its creation in the 1960s, ADB focused much of its assistance on food production and rural development. At the time, Asia was one of the poorest regions in the world.

The headquarter of the Asian Development Bank (ADB) is located at Mandaluyong, Philippines. It also maintains 31 field offices in Asia and Pacific and representative offices in Washington, Frankfurt, Tokyo and Sydney. As of April 2020, Masatsugu Asakawa is the president of ADB. The ADB was modeled closely on the World Bank and has a similar weighted voting system where votes are distributed in proportion with member’s capital subscriptions.

Other full forms of ADB

Bank Assessment for Non-point source Consequences of Sediment

Australian dollar

George Schmidt

Junior Associate of Indian Institute of Banking

Indian Overseas Bank

Bank Employees Federation of India

Dubai Islamic Bank

textile

Back Street Boys

Bank of Nova Scotia

Bank of Credit and Commerce International

Federal Deposit Insurance Corporation

British English

Fushigi Yuugi

Automated Teller Machine

Australian dollar

Michigan National Bank

Standard Chartered Bank

Retired

Hong Leong Bank