Explore topic-wise InterviewSolutions in Banking.

INFO: Full form for MPD is Monetary Policy Department in Banking category
MPD also has other full forms in other categories mentioned below.

INFO: Full form for NAB is New Arrangement to Borrow in Banking category
NAB also has other full forms in other categories mentioned below.

National Australia Bank (abbreviated NAB, branded nab) is one of the four largest financial institutions in Australia (colloquially referred to as "The Big Four") in terms of market capitalisation, earnings and customers. NAB was ranked 21st-largest bank in the world measured by market capitalisation and 52nd-largest bank in the world as measured by total assets in 2019. As of January 2019, NAB operated 3,500 Bank@Post locations—including 7,000+ ATMs across Australia, New Zealand, and Asia—and served 9 million customers.

NAB has a "AA-" long-term issuer rating by Standard & Poor's.

INFO: Full form for MPI is Macro-Prudential Indicators in Banking category
MPI also has other full forms in other categories mentioned below.

The Exchange Equalisation Account (EEA) is a fund of Her Majesty's Treasury in the United Kingdom. It holds the country's the special drawing rights (SDR) held at the International Monetary Fund as well as reserves of foreign currencies and gold. It was set up to provide funding which if necessary can be used to manage the exchange value of pound sterling on international markets.

The EEA was established by Neville Chamberlain's budget of 19 April 1932 following the pound's exit from the gold exchange standard the previous September.

The Exchange Stabilization Fund is a similar fund operated by the US Treasury since 1934. It was created as a response to the EEA.

The European Central Bank (ECB) is the prime component of the Eurosystem and the European System of Central Banks (ESCB) as well as one of seven institutions of the European Union. It is one of the world's most important central banks.

The ECB Governing Council makes monetary policy for the Eurozone and the European Union, administers the foreign exchange reserves of EU member states, engages in foreign exchange operations, and defines the intermediate monetary objectives and key interest rate of the EU. The ECB Executive Board enforces the policies and decisions of the Governing Council, and may direct the national central banks when doing so. The ECB has the exclusive right to authorise the issuance of euro banknotes. Member states can issue euro coins, but the volume must be approved by the ECB beforehand. The bank also operates the TARGET2 payments system.

The ECB was established by the Treaty of Amsterdam in May 1999 with the purpose of guaranteeing and maintaining price stability. On 1 December 2009, the Treaty of Lisbon became effective and the bank gained the official status of an EU institution. When the ECB was created, it covered a Eurozone of eleven members. Since then, Greece joined in January 2001, Slovenia in January 2007, Cyprus and Malta in January 2008, Slovakia in January 2009, Estonia in January 2011, Latvia in January 2014 and Lithuania in January 2015. The current President of the ECB is Christine Lagarde. Headquartered in Frankfurt, Germany, the bank formerly occupied the Eurotower prior to the construction of its new seat.

The ECB is directly governed by European Union law. Its capital stock, worth €11 billion, is owned by all 27 central banks of the EU member states as shareholders. The initial capital allocation key was determined in 1998 on the basis of the states' population and GDP, but the capital key has been readjusted since. Shares in the ECB are not transferable and cannot be used as collateral.

INFO: Full form for ECB is England Clearinghouse Bank in Banking category
ECB also has other full forms in other categories mentioned below.

A Communications Ministry or Department of Communications is a ministry or other government agency charged with communication. Communications responsibilities includes regulating telecommunications, postal services, broadcasting and print media. The ministry is often headed by the Minister for Communications.

INFO: Full form for DIC is District Industries Centre in Banking category
DIC also has other full forms in other categories mentioned below.

A special-purpose entity (SPE; or, in Europe and India, special-purpose vehicle/SPV; or, in some cases in each EU jurisdiction, FVC, financial vehicle corporation) is a legal entity (usually a limited company of some type or, sometimes, a limited partnership) created to fulfill narrow, specific or temporary objectives. SPEs are typically used by companies to isolate the firm from financial risk. A formal definition is "The Special Purpose Entity is a fenced organization having limited predefined purposes and a legal personality".

Normally a company will transfer assets to the SPE for management or use the SPE to finance a large project thereby achieving a narrow set of goals without putting the entire firm at risk. SPEs are also commonly used in complex financings to separate different layers of equity infusion. Commonly created and registered in tax havens, SPEs allow tax avoidance strategies unavailable in the home district. Round-tripping is one such strategy. In addition, they are commonly used to own a single asset and associated permits and contract rights (such as an apartment building or a power plant), to allow for easier transfer of that asset. They are an integral part of public private partnerships common throughout Europe which rely on a project finance type structure.

A special-purpose entity may be owned by one or more other entities and certain jurisdictions may require ownership by certain parties in specific percentages. Often it is important that the SPE is not owned by the entity on whose behalf the SPE is being set up (the sponsor). For example, in the context of a loan securitization, if the SPE securitization vehicle were owned or controlled by the bank whose loans were to be secured, the SPE would be consolidated with the rest of the bank's group for regulatory, accounting, and bankruptcy purposes, which would defeat the point of the securitization. Therefore, many SPEs are set up as 'orphan' companies with their shares settled on charitable trust and with professional directors provided by an administration company to ensure that there is no connection with the sponsor.

INFO: Full form for NOF is Net Owned Funds in Banking category
NOF also has other full forms in other categories mentioned below.

INFO: Full form for PDs is Primary Dealers in Banking category
PDs also has other full forms in other categories mentioned below.

The Indian food security system was established by the Government of India under the Ministry of Consumer Affairs, Food and Public Distribution to distribute food and non-food items to India's poor at subsidised rates. Major commodities distributed include staple food grains, such as wheat, rice, sugar and essential fuels like kerosene, through a network of fair price shops (also known as ration shops) established in several states across the country. Food Corporation of India, a Government-owned corporation, procures and maintains the public distribution system (PDS).

Today, India has the largest stock of grain in the world besides China, the government spends Rs. 750 billion. Distribution of food grains to poor people throughout the country is managed by state governments. As of 2011 there were 505,879 fair price shops (FPS) across India. Under the PDS scheme, each family below the poverty line is eligible for 35 kg of rice or wheat every month, while a household above the poverty line is entitled to 15 kg of foodgrain on a monthly basis. A below poverty line card holder should be given 35 kg of food grain and the card holder above the poverty line should be given 15 kg of food grain as per the norms of PDS. However, there are concerns about the efficiency of the distribution process.

In coverage and public expenditure, it is considered to be the most important food security network. However, the food grains supplied by the ration shops are not enough to meet the consumption needs of the poor. The average level of consumption of PDS seeds in India is only 1 kg per person per month. The PDS has been criticised for its urban bias and its failure to serve the poorer sections of the population effectively. The targeted PDS is costly and gives rise to much corruption in the process of extricating the poor from those who are less needy.

INFO: Full form for CMIS is Currency Management Information System in Banking category
CMIS also has other full forms in other categories mentioned below.

INFO: Full form for CSF is Consolidated Sinking Fund in Banking category
CSF also has other full forms in other categories mentioned below.

INFO: Full form for CTR is Cash Transaction Receipt in Banking category
CTR also has other full forms in other categories mentioned below.

INFO: Full form for ADs is Authorised Dealers in Banking category
ADs also has other full forms in other categories mentioned below.