Full FormsFull forms: banking, tax and money
53 full forms, each with a line on what it means.
Banking and tax papers are thick with short forms: on a cheque, a passbook, a salary slip, a loan letter, a GST bill and every payment app. This page explains the ones an ordinary account holder, employee or small business owner in India is most likely to meet, from ATM and IFSC to TDS and NACH. Each entry says what the thing is in one line. It does not give rates, limits or charges, because those change and differ from bank to bank; take them from your bank or the regulator. A word of caution runs through this subject: a PIN, CVV or OTP is never to be shared with anyone, whatever a caller says.
Explained in full: ATM GST UPI EMI KYC PAN IFSC GDP
ATM
Automated Teller Machine
A machine that lets bank customers take out cash and check balances with a card or phone, without a cashier.
IFSC
Indian Financial System Code
An 11-character code that identifies a bank branch for electronic transfers in India.
MICR
Magnetic Ink Character Recognition
The technology that reads the special numbers printed at the bottom of a cheque; the 9-digit MICR code identifies the branch.
NEFT
National Electronic Funds Transfer
A Reserve Bank of India system for sending money between bank accounts, settled in batches.
RTGS
Real Time Gross Settlement
A Reserve Bank of India system for large transfers that are settled one by one, at once.
IMPS
Immediate Payment Service
An instant, round-the-clock bank transfer service run by NPCI.
UPI
Unified Payments Interface
The instant payment system of NPCI that moves money between bank accounts through a phone app.
NPCI
National Payments Corporation of India
The organisation that runs retail payment systems in India, including UPI, RuPay and IMPS.
KYC
Know Your Customer
The identity and address check that banks and financial companies must do before opening an account.
PAN
Permanent Account Number
The ten-character number issued by the Income Tax Department to identify a taxpayer.
TAN
Tax Deduction and Collection Account Number
The number that anyone who deducts or collects tax at source must obtain.
GST
Goods and Services Tax
The tax on the supply of goods and services in India, which replaced many earlier indirect taxes in 2017.
GSTIN
Goods and Services Tax Identification Number
The 15-character registration number of a business under GST.
TDS
Tax Deducted at Source
Income tax that the payer cuts from a payment, such as salary or interest, and deposits with the government.
ITR
Income Tax Return
The form in which a person or business reports income and tax for a year to the Income Tax Department.
EMI
Equated Monthly Instalment
The fixed amount paid every month to repay a loan, covering both interest and principal.
FD
Fixed Deposit
Money kept with a bank for a fixed period at an agreed rate of interest.
RD
Recurring Deposit
A deposit into which a fixed sum is paid every month for an agreed period.
PPF
Public Provident Fund
A long-term government savings scheme with a 15-year term.
EPF
Employees' Provident Fund
The retirement savings scheme to which an employee and employer both contribute each month.
EPFO
Employees' Provident Fund Organisation
The government body that runs the provident fund and pension schemes for employees.
UAN
Universal Account Number
The 12-digit number that stays with an employee across jobs and links all provident fund accounts.
NPS
National Pension System
A government-run, market-linked retirement savings scheme.
SIP
Systematic Investment Plan
A way of investing a fixed amount in a mutual fund at regular intervals.
IPO
Initial Public Offering
The first sale of a company's shares to the public.
NSE
National Stock Exchange
One of the two main stock exchanges of India, based in Mumbai.
BSE
Bombay Stock Exchange
The older of India's two main stock exchanges; its official name today is BSE Limited.
SEBI
Securities and Exchange Board of India
The regulator of the securities market in India.
RBI
Reserve Bank of India
India's central bank, which issues currency and regulates banks.
SBI
State Bank of India
The largest public sector bank in India.
NABARD
National Bank for Agriculture and Rural Development
The apex development bank for agriculture and rural credit in India.
NBFC
Non-Banking Financial Company
A company that gives loans or other financial services without being a bank.
LIC
Life Insurance Corporation of India
The state-owned life insurance company.
IRDAI
Insurance Regulatory and Development Authority of India
The regulator of insurance in India.
CVV
Card Verification Value
The three-digit security number on the back of a debit or credit card. Never share it.
POS
Point of Sale
The place or machine where a customer pays, such as a card swipe machine.
CIBIL
Credit Information Bureau (India) Limited
The original name of India's first credit bureau, now TransUnion CIBIL; its score is widely used by lenders.
UTR
Unique Transaction Reference
The reference number that identifies a bank transfer.
DD
Demand Draft
A prepaid payment instrument issued by a bank, payable to a named party.
MSME
Micro, Small and Medium Enterprises
The official grouping of smaller businesses, defined by investment and turnover.
HUF
Hindu Undivided Family
A family treated as a separate taxpayer under Indian income tax law.
CASA
Current Account Savings Account
A bank's current and savings deposits taken together.
NRI
Non-Resident Indian
An Indian citizen who lives outside India.
MRP
Maximum Retail Price
The highest price, including taxes, at which a packaged product may be sold in India.
COD
Cash on Delivery
Paying for an online order when it arrives.
GDP
Gross Domestic Product
The total value of goods and services produced in a country in a period.
FDI
Foreign Direct Investment
Investment by a foreign company or person in a business in another country.
AEPS
Aadhaar Enabled Payment System
A system that lets people use basic banking with their Aadhaar number and fingerprint.
DBT
Direct Benefit Transfer
The government's method of paying subsidies and benefits straight into bank accounts.
BHIM
Bharat Interface for Money
The UPI payment app developed by NPCI.
ECS
Electronic Clearing Service
An older system for repeated payments such as bills and salaries, now largely replaced by NACH.
NACH
National Automated Clearing House
The NPCI system that handles repeated payments such as EMIs and SIPs.
How to read an entry
The letters in bold are the short form as it is normally written. Under it is the full form, and then a line of meaning in plain words. Where the same letters mean something else in another field, the entry mentions it. "Copy" puts the short form, the full form and the meaning on your clipboard, ready to paste into notes or a message.
Check what matters. These pages explain names and terms in general. Rules, dates, fees and limits change: take them from the official body. Read on 12 November 2026.
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