Full Form 78

ECS - Electronic Clearing Service ECS is an electronic mode of funds transfer from one bank account to another. It can be used by institutions for making payments such as distribution of dividend interest, salary, pension, among others. It can also be used to pay bills and other charges such as telephone, electricity, water or for making equated monthly installments payments on loans as well as SIP investments. ECS can be used for both credit and debit purposes. How do you avail of an ECS scheme? You need to inform your bank and provide a mandate that authorises the institution, who can then debit or credit the payments through the bank. The mandate contains details of your bank branch and account particulars. It is the responsibility of the institution to communicate the details of the amount being credited or debited to their account, indicating the date of credit and other relative particulars of the payment. You will know the money has been debited from your account through mobile...

DEAF - Depositor Education and Awareness Fund The Depositor Education and Awareness Fund Scheme (DEAF Scheme) was established by the Reserve Bank of India (RBI) in 2014 for the promotion of depositors’ interest and for any other related purposes deemed necessary by the RBI.

DCB - Development Credit Bank DCB Bank Limited is a private sector scheduled commercial bank in India. DCB Bank has 341 branches (as on 30th June 2020) from 160 branches in 2015. Historically, the Bank has its origins in Mumbai from a series of Co-operative bank mergers with the Ismailia Co-operative Bank Limited and the Masalawala Co-operative Bank respectively to form Development Co-operative Bank, that changed to Development Credit Bank after it was granted the scheduled bank license by the Reserve Bank of India in May 1995. DCB Bank offered shares to the public by an initial public offering (IPO) in 2006

CRR - Cash Reserve Ratio Cash Reserve Ratio (CRR) RBI meaning, CRR rate: The Cash Reserve Ratio in India is decided by RBI's Monetary Policy Committee in the periodic Monetary and Credit Policy. The percentage of cash required to be kept in reserves, vis-a-vis a bank's total deposits, is called the Cash Reserve Ratio.

CIBIL - Credit Information Bureau (India) Limited CIBIL (Credit Information Bureau (India) Limited) is a Credit Bureau or Credit Information Company. This company is engaged in maintaining the records of all the credit-related activities of companies as well as individuals including credit cards and loans.

EMI - Equated Monthly Installment An equated monthly installment (EMI) is a fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month so that over a specified number of years,

PNB - Panjab National Bank Punjab National Bank (PNB) is a Banking and Financial service bank owned by the Government of India with its headquarters is in New Delhi, India. The bank was founded in 1894 and is the second-largest public sector bank (PSB) in India, both in terms of business and its network. The bank has over 180 million customers, 10,910 branches, and 13,000+ ATMs post-merger with United Bank of India and Oriental Bank of Commerce, effective from 1 April 2020.

  NEFT - National Electronic Funds Transfer NEFT (national electronic funds transfer) are electronic payment systems that allow individuals to transfer funds between banks. Both these systems are maintained by the Reserve Bank of India. On the other hand, NEFT operates on a deferred settlement basis.

PPP - Public Provident Fund Public provident fund is a popular investment scheme among investors courtesy its multiple investor-friendly features and associated benefits. It is a long-term investment scheme popular among individuals who want to earn high but stable returns.

DEMAT - Dematerialized

ATM - Automated Teller Machine The full form of ATM is Automated Teller Machine. ATM is an electro-mechanical machine that is used for making financial transactions from a bank account. These machines are used to withdraw money from personal bank accounts.

RBI - Reserve Bank of India RBI stands for Reserve Bank of India,- India's central banking institution which controls the issuance and supply of the Indian Rupee. The Reserve Bank of India (RBI) is India's central bank, which controls the issue and supply of the Indian rupee. RBI is the regulator of the entire Banking in India. RBI plays an important part in the Development Strategy of the Government of India. RBI regulates commercial banks and non-banking finance companies working in India. It serves as the leader of the banking system and the money market. It regulates money supply and credit in the country. The RBI carries out India's monetary policy and exercises supervision and control over banks and non-banking finance companies in India. RBI was set up in 1935 under the Reserve Bank of India Act,1934.

ICICI - Industrial Credit and Investment Corporation of India ICICI Bank was established by the Industrial Credit and Investment Corporation of India (ICICI), an Indian financial institution, as a wholly-owned subsidiary in 1994. The bank was founded as the Industrial Credit and Investment Corporation of India Bank, before it changed its name to the abbreviated ICICI Bank.

IDBI - Industrial Development Bank of India The Industrial Development Bank of India (IDBI) was established in 1964 under an Act of Parliament as a wholly owned subsidiary of the Reserve Bank of India.

NEFT - National Electronic Fund Transfer National Electronic Funds Transfer (NEFT) is an Indian system of electronic transfer of money from one bank to another. It was introduced by Reserve Bank of India. It is an electronic fund transfer system that is based on Deferred Net Settlement (DNS) which settles transaction in batches.