Manual on Financial and Banking Statistics

LIST OF ABBREVIATIONS

ACF Auto-Correlation Function CBS Consolidated Banking Statistics

AD Authorized Dealer CC Cash Credit

ADB Asian Development Bank CD Certificate of Deposit

CD Ratio Credit Deposit Ratio
ADR American Depository Receipt
CDBS Committee of Direction on Banking
AFS Annual Financial Statement Statistics
AGM Annual General Meeting CF Company Finance

AIRCSC All India Rural Credit Survey CFRA Combined Finance and Revenue
Committee Accounts

AO Additive Outliers CGRA Currency and Gold Revaluation

Account
AR Auto Regression
CII Confederation of Indian Industries
ARIMA Auto-Regressive Integrated Moving
CO Capital Outlay
Average
CP Commercial Paper
AFS Available For Sale
CPI Consumer Price Index
ASSOCHAM Associated Chambers of Commerce
CPI-IW Consumer Price Index for Industrial
and Industry of India
Workers
ATM Asynchronous Transfer Mode
CR Capital Receipts
ATM Automated Teller Machine CRAR Capital to Risk Weighted Asset
Ratio
BIS Bank for International Settlements
CRR Cash Reserve Ratio
BOI Bank of India
CSIR Council of Scientific and Industrial
BoP Balance of Payments Research
BPM5 Balance of Payments Manual, 5th CSO Central Statistical Organisation
edition
CVC Central Vigilance Commission
BPSD Balance of Payments Division, DAP Development Action Plan
DESACS, RBI
DBOD Department of Banking Operations
BSCS Basel Committee on Banking and Development
Supervision
DBS Department of Banking
BSR Basic Statistical Returns Supervision, RBI

CAD Capital Account Deficit DCA Department of Company Affairs,

(Now known as Ministry of
CAG Controller and Auditor General of Companies Affairs, MCA)
India Government of India

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DCB Demand Collection and Balance EFR Exchange Fluctuation Reserve

DCCB District Central Cooperative Bank EPF Employees Provident Fund

DCM Department of Currency EUR Euro

Management, RBI
EXIM Bank Export Import Bank of India
DD Demand Draft
FCA Foreign Currency Assets
DDS Data Dissemination Standards
FCCB Foreign Currency Convertible Bond
DEIO Department of External Investments
and Operations FCNR(B) Foreign Currency Non-resident
(Banks)
DESACS Department of Statistical Analysis
& Computer Services, RBI FCNRA Foreign Currency Non-resident
Account
DGBA Department of Government and
Bank Accounts, RBI FCNRD Foreign Currency Non-Repatriable
Deposit
DGCI&S Directorate General of Commercial
Intelligence and Statistics FDI Foreign Direct Investment

DI Direct Investment FEMA Foreign Exchange Management Act

DICGC Deposit Insurance and Credit FI Financial Institution

Guarantee Corporation of India FICCI Federation of Indian Chambers of
DID Discharge of Internal Debt Commerce and Industry

DMA Departmentalized Ministries FII Foreign Institutional Investor

Account FIMMDA Fixed Income Money Market and
DRI Differntial Rate of Interest Scheme Derivatives Association of India

DSBB Dissemination Standards Bulletin FISIM Financial Intermediation Services

Board Indirectly Measured

DVP Delivery versus Payment FLAS Foreign Liabilities and Assets

Survey
ECB External Commercial Borrowing
FOF Flow Of Funds
ECB European Central Bank
FPI Foreign Portfolio Investment
ECGC Export Credit and Guarantee
Corporation FRA Forward Rate Agreement

ECS Electronic Clearing Scheme FRBM Fiscal Responsibility and Budget

Management Act, 2003
EDMU External Debt Management Unit
FRN Floating Rate Note
EEA Exchange Equalization Account
FSS Farmers’ Service Societies
EEC European Economic Community
FWG First Working Group on Money
EEFC Exchange Earners Foreign Currency supply

x
Manual on Financial and Banking Statistics Abbreviations

GDP Gross Domestic Product IFC International Finance Corporation

GDR Global Depository Receipt IFC(W) International Finance Corporation

(Washington)
GFD Gross Fiscal Deficit
IFCI Industrial Finance Corporation of
GFS Government Finance Statistics India

GIC General Insurance Corporation IFR Investment Fluctuation Reserve

Account
GLS Generalized Least Squares
IFS International Financial Statistics
GNIE Government Not Included
Elsewhere IGLS Iterative Generalized Least Squares

GoI Government of India IIBI Industrial Investment Bank of India

GPD Gross Primary Deficit IIP Index of Industrial Production

G-Sec Government Securities IIP/InIP International Investment Position

IMD India Millennium Deposits

HDFC Housing Development Finance
Corporation IMF International Monetary Fund
HFT Held For Trading IN India

HICP Harmonised Index of Consumer INR Indian Rupee

Prices
IOTT Input-Output Transaction Table
HO Head Office
IP Interest Payment
HUDCO Housing & Urban Development
IRBI Industrial Reconstruction Bank of
Corporation
India
IBRD International Bank for
ISDA International Swaps and Derivative
Reconstruction and Development
Association
IBS International Banking Statistics
ISIC International Standard Industrial
ICAR Indian Council of Agricultural Classification
Research ISO International Standards
ICICI Industrial Credit and Investment Organization
Corporation of India ITRS International Transaction Reporting
System
ICMR Indian Council of Medical Research
IWGEDS International Working Group on
IDB India Development Bonds
External Debt Statistics
IDBI Industrial Development Bank of KVIC Khadi & Village Industries
India Corporation
IDD Industrial Development Department LAF Liquidity Adjustment Facility
IFAD International Fund for Agricultural LAMPS Large-sized Adivasi Multipurpose
Development Societies

xi
LAS Loan & Advances by States NBC Non-Banking Companies

LBD Land Development Bank NBFC Non Banking Financial Companies

LBS Locational Banking Statistics NEC Not Elsewhere Classified

LERMS Liberalised Exchange Rate NEER Nominal Effective Exchange Rate

Management System
NFA Non-Foreign Exchange Assets
LIC Life Insurance Corporation of India
NFD Net Fiscal Deficit
LS Level Shift
NGO Non-Governmental Organization
LT Long Term
NHB National Housing Bank
LTO Long Term Operation NIC National Industrial Classification
M1 Narrow Money NIF Note Issuance Facility
M3 Broad Money NNML Net Non-Monetary Liabilities
MA Moving Average NPA Non-Performing Assets
MCA Ministry of Company Affairs NPD Net Primary Deficit
MIGA Multilateral Investment Guarantee NPRB Net Primary Revenue Balance
Agency
NPV Net Present Value
MIS Management Information System
NR(E)RA Non-Resident (External) Rupee
MMSE Minimum Mean Squared Errors Account

MoF Ministry of Finance NR(NR)RA Non-Resident (Non-Repatriable)

Rupee Account
MOF Master Office File
NRE Non-Resident External
MRM Monitoring and Review Mechanism
NRG Non-Resident Government
MSS Market Stabilisation Scheme
NRI Non-Resident Indian
MT Mail Transfer
NSC National Statistical Commission
MTM Mark-To-Market
NSSF National Small Savings Fund
NABARD National Bank for Agriculture and
Rural Development OD Over Draft

NAC(LTO) National Agricultural Credit (Long ODA Official Development Assistance

Term Operatiion)
OECD Organisation for Economic
NAIO Non Administratively Independent Cooperation and Development
Office
OECO Organisaton for Economic
NAS National Account Statistics Co-operation

NASSCOM National Association of Software OFI Other Financial Institutions

and Services Companies OLTAS OnLine Tax Accounting System

xii
Manual on Financial and Banking Statistics Abbreviations

OMO Open Market Operations RIDF Rural Infrastructure Development

Fund
OSCB Other Indian Scheduled
Commercial Bank RLA Recoveries of Loans & Advances

PACF Partial Auto-Correlation Function RLC Repayment of Loans to Centre

PACS Primary Agriculture Credit Societies RMB Renminbi (Chinese)

PCARDB Primary Cooperative Agriculture RNBC Residuary Non-Banking Companies

and Rural Development Bank RO Regional Office
PD Primary Deficit RoCs Registrars of Companies
PDAI Primary Dealers Association of RPA Rupee Payment Area
India
RPCD Rural Planning and Credit
PDO Public Debt Office Department, RBI
PDO-NDS Public Debt Office-cum-Negotiated RR Revenue Receipts
Dealing System
RRB Regional Rural Bank
PDs Primary Dealers
RTP Reserve Tranche Position
PES Public Enterprises Survey
RUF Revolving Underwriting Facility
PF Provident Fund
RWA Risk Weighted Asset
PIO Persons of Indian Origin
SAM Social Accounting Matrix
PNB Punjab National bank
SAS Statistical Analysis System
PO Principal Office
SBI State Bank of India
PRB Primary Revenue Balance SC Schedule Caste
PSE Public Sector Enterprises SCARDB State Cooperative Agriculture and
Rural Development Bank
PUC Paid Up Capital
SCB State Cooperative Bank
QRR Quick Review Report
SCB Scheduled Commercial Bank
RBI Reserve Bank of India
SCS Size Class Strata
RD Revenue Deficit
SDDS Special Data Dissemination
RDBMS Relational Database Management Standards
System
SDR Special Drawing Right
RE Revenue Expenditure
SEBI Securities and Exchange Board of
REC Rural Electrification Corporation India
REER Real Effective Exchange Rate SEBs State Electricity Boards

RFC Residents Foreign Currency SFC State Financial Corporation

RIB Resurgent India Bonds SGL Subsidiary General Ledger

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SGSY Swarnajayanthi Gram Swarrojgar SWG Second Working Group on Money
Yojana Supply

SHGs Self-Help Groups TBs Treasury Bills

SIDBI Small Industries Development Bank TC Temporary Change

of India
TT Telegraphic Transfer
SIDC State Industrial Development
Corporation UBB Uniform Balance Book

SI-SPA Systems Improvement Scheme UBD Urban Banks Department

under Special Project Agriculture UCB Urban Cooperative Bank
SJSRY Swarna Jayanti Shahari Rojgar
UCN Uniform Code Number
Yojana
US United States
SLR Statutory Liquidity Ratio
USD US Dollars
SLRS Scheme for Liberation &
Rehabilitation of Scavangers UTI Unit Trust of India

SMG Standing Monitoring Group VC Venture Capital

SNA System of National Accounts WGMS Working Group on Money Supply:

Analytics and Methodology of
SRWTO Small road & Water Transport Compilation
Operators
WPI Wholesale Price Index
SSI Small-Scale Industries
WSS Weekly Statistical Supplement
SSSBEs Small Scale Service & Business
Enterprises YTM Yield to Maturity

ST Schedule Tribe ZO Zonal Office

xiv
 PUBLIC DEBT OFFICE(PDO)
The RBI manages public debt and issues new loans on
behalf of the central and state coots.Under the powers
derived from sections 17-11(e),20,21(2) and 21-A(b) of RBI
Act 1934 read with the provisions of public debt act
1994.The advisory role of bank pertains to raising market
borrowing are done by Internal Debt Management
Dept(IDMD)-Oct 1992

RBI Operations in debt management

•issue of loans of behalf of state and central government
•carrying out open market operations
•ways and means advances to state&C.G
RBI OBJECTIVES
•smoothening of debt maturity
•raising of govt.debt market
•developing secondary market

The market for govt.securities is mainly configured to

•RBI
•commercial banks
•primary dealers
•lic
•provident fund schemes
•other trust funds

These securities are held in the A/C of RBI to conduct

open market operations and will be shown as asset in ID
&Bkg depts

Major share of govt sec in scheduled commercial banks

of lic,share of rbi is decreasing with other investors like
Trusts and funds
DEBT MANAGEMENT&ROLE OF PDO
Preamble of PDA Act 1944.An Act to consolidate &
amend the law relating to govt.securities and to the
management by RBI of piblic debt of the govt

FUNCTIONS OF PDO
•Issues of new loans of central and state govts and also
industrial finanace bonds
•Issues of compensation and rehabilation grant bonds
•payment of interests /instalment/annuity on
govt.securities
•Enhancement of securities at a treasury,sub treasury
•renewal ,consolidation & sub-division of securities and
their conversion from one to another
•Audit of interest /instalment/annuity payment at
treasuries/sub-treasuries
•Dealing with disputes claims
,lost,stolen,destroyed,mutilated or defaced
securities
•Deposit of securities in safe custody and payment of
interest there on
•refund of pre-maturity value of treasury savings deposit
certificates and defencene deposits certificates
•payment of communication value in r/o annuity
certificates
•reufund of deposits made under annuity deposit scheme
•Repayment of loans
•Registration of nomination/cancellation of registration of
nomination in r/o relief bonds
•PDOs ar required to guide agency bank,treasuries and
sub-treasuires dealing in govt securities
Renumeartion to the bank for floating new loans central
govt. securities -Rs 1000/- per crore with a minimum of
Rs 5000/-

State govt sec-Rs 1000/- per crore with minimum of

1000/- brokevage ,renewal of fees ,telegrams,trunk
call,priniting,advertisment etc charges extra for
management

Central govt. loans -Rs 2000/- p.a payable half yearly

Stte govt. loans - Rs 2000/- p.a payable half yearly

GOVT SECURITIES -ACCORDING TO PDI RULES 1946

•Govt .Promisory note
•stock
•bearer bonds
G.P NOTE: A G.P note is negotiable instument payable to the
order of a specified person /persons and transferable by the end
or sement mode in cages proivided on the reverse of the note
The title of the note passes by end or sement and delivery .It can
be held single/jointly & can be payable to one person/persons
according to the wishes of the holder of the note.It can be
payable at PDO offices or treasury officers as indicated on the
face of the note .For drawing interest note has to be presented at
the paying office where it is enfaced on the fact of the payment
of interest at reverse of the note in the specified cages

STOCK CERTIFICATE
When the debt is held in the form of stock the owner
is given a certificate to the effect by the registering his name in
the books of PDO .Certain amount for a specified loan .It is also
indicate the rate of interest the date from which its
payable .The ownership depends not more possesion of
the note the but on the fact the name of the owner is
registered in the books of PDO
•it is not negotiable but transferable
•it can be held by 2/more persons jointly
•it can be held by transfers /parties authorised
•it need not present at the time of payment of interest ,the
interest warrants are directly sent to the address that
were registered by the PDO
•no risks in wrongful hands
•duplicate can be issued after simple formalities
•it can be converted into GP note & vice versa
SUBSIDARY GENERAL LEDGER A/C:
It stocks are held in the form of a ledger A/C in the offices
of PDO in the subsidary general ledger stocks can be
held by any persons bit in case of holding govt.
securities in subsidary general ledger A/C is restricted by
PDO to institutes of corporate status or persons of govt.
officials whose has the holdings justify opening such A/C
.No certificate is given as in the case of stocks they are
advised the quantum of credit .Similar advices we are
issued in r/o debits & credits of the a/c's.Interest is
payable as in the case of stock certificates.The persons
who are authorised to open the S.G.L A/C execute
indemnity bonds in r/o of such securities.The specimen
signatures of the authorised persons to operate the A/C
to be forwarded for PDO record.Transfer of securities are
allowed between 2 different A/C between two different
PDO offices
BOND LEDGER ACCOUNT
It is a demateralised form of govt.securities and can only
be issued under Relief bonds/Savings bonds
Schemes.Accounts can be opened at PDO offices or
authorised banks .The accounts can be transferred
between PDO offices/authorised branches
BEARER BONDS:
The security in the form of the bearer bond is the
govt.security is concerned meve possesion of the bond
is sufficient .It can be transferable by meve delivery no
formalities are there.Interest coupons are attached to it
and the interest is paid to the presenter of the coupon at
PDO/treasury/sub-treasury offices at which the bond is
registered for payment of interest.The Priye bondsissued
by the govt. are similar to bearerbonds Eligible Investors
•firms/companies/corporate/ bodies
•banks/financial institutes
•primary dealers
•state govts
•PF's & trusts
•OCBS/NRIs/FILS
Different sections present in PDO to perform duties are
•G P note section
•book debt section
•S.G.L A/C section
•new loan section
•accounts sec
•voucher audit &balancing section
•interest check section
•power section
•lost note sub-section
•small savings sec
•record sec
•correspondence sec
DEBT MANAGEMENT
OPEN MARK OPERATIONS:
Open market operations are mainly configured to prchase
and sale of govt. securities including treasury
bills.O.M.O are an instrument of direct credit control by
the RBI which alters the liquidity position of the banks.It
depends on the type of the assets the bank can hold and
also size and depth of the gilt market.Sec 17(8) of RBI act
authorises the bank to purchase or sale of C.G.sec or
state g.sec or of a local authority of which principle and
interest are guaranteed by by them to such extent.There
is no restriction either to amount or maturity of the
securities which the bank may purchase,sale or hold.For
the conduct of open market operations as monetary
policy instrument the market for sec. is to be well
organised,broad based and deep.Till 1991-92 the
securities market remained dormant bt internal debt
management policy
Open market operations are
a better tool of monetary registration are a better tool of
monetary
regulation than traditional cash ratio
SECONDARY MARKET DEVELOPMENTS:
RBI has been making efforts to develop a deep and
dynamic secondary market for govt.sec by way of
establishing through system of
•primary dealers
•satellite dealers
•gilt funds
•foreign institutional investors
1.PRIMARY DEALERS:
RBI has given guidelines for enlistment of primary
dealers in 1995
The main objectives are:
•for strengthen the infrastructure in the govt.sec
•to develop market capabilities for govt.sec
•to improve secondary market trading
eligibility:
•Sche commercial banks
•All India Financial Institutions
•A Company under comoanies act 1956
A primary dealer as commit to
bid for a minimum amount in govt.sec & treasury bills
auctions
facilities to primary dealers :
RBI extends CA A/C or subsidary G L A/C,liquidity
support in bidding commitments,freedom to deal in
money market instruments & open market operations
2.SATELLITE DEALERS:
•to support the infrastructure
•SDs has been intriduce by RBI
•The objectives,eligibility and facilities extended are
same as primary dealers expect net worth of assets
is 5crores
The scheme was
discontinued with effect from 31.5.2002 as it has acheived
the goal
3.GILT FUNDS:
Gilt funds /mutual funds scheme was
floated by asset management companies with exclusive
investment in govt.sec
4.FOREIGN INSTITUTIONAL INVESTORS IN GOVT.SEC
MARKET
Since May 19,1998 the F 1 1
within the category of 100 percent debt funds and within
their debt ceiling of 30% investements have been
permitted to invest in treasury bills.This policy measure
is expected to encourage flow of foreign capital into the
Indian Debt Market
5.RETAILING OF GOVT.SECURITIES:
( diversification of investor base)
with a view to enable dematerialisation of
securities of retail holders,institutions such as National
Securities
Depository Ltd(NSDL),Stock Holding Corporation Of India
Ltd(SHCIL),National Securities Clearing Corporation
Ltd(NSCCL) have been allowed to open SGL accounts
with RBI
NDS(Feb 2002)
In order to develop infrasturcture arrangements
facilitating secondary market operations in
Govt.securities in the introduction of screen based
electronic trading platform called Negotiated Dealing
Systen(N.D.S) by RBI .NDS in elecronic trading plaform
through which deals in the secondary market for
Govt.sec ,the participants are put through and the deal
information is taken up for settlement directly from
settlement .Apart from dealing process by way quotes
&negotiations the NDS also provides for electronic
reporting of trades on online information,thereby adding
price &volume discovery.This was done in first phase it
will facilitate screen based tendreing system for
auctions&issues of govt.securities.
CCIL-APRIL 2001
CCILwas set up in april 2001 by banks,financial
institutions,primary dealers functions as an industry
service orgsnisations
for clearing &settlement of trades in foreign
exchange,Govt secs and other debt instruments.Any
component of payment system is subjected to certain
risks such as credit risks,liquidity risks,replacement cost
risk etc.,which in turn leads to systemic risks.The CCIL
plays the role of CCP C central counter parts to all
transactions and guarantees settlement of trade by
executing its own rules &regulations thus eliminating
counter party risk.
CCIL commenced its
operations in this segment for both out right & Repo
transactions from 15.2.2002 along with NDS.Guaranteed
settlement was extended from April 2002 settlement of
securities(mumbai pdo)&funds(mumbai dad) is done
through the DVP-11 mechanisms,the settlement of
securities on a gross basis while the funds are settled on
a net basis
ISSUE DEPARTMENT
The management of currency is one of the core central
banking functions .This is reflected in the preamble of
RBI Act 1934 it is expendient to constitute RBI to
regulate the issues of the bank notes and the keeping of
reserves with a view to secure monetary stability in India
and of the country to its advantages
STATUTORY PROVISIONS:
The statutory powers for currency management are
derived from RBI act .In terms of sec -22 of RBI
Act1934,RBI is the sole of authority for the issue of the
bank notes in india.Through one ruppee coin &notes
/small coins are issued by the govt. but are put into
circulation through RBI only to ensure RBIs position as
sole currency authority.
In terms of sec -38 of RBI Act1934,govt is required to put
into circulation through rbi only. the C.G is required to
supply one ruppee notes/coins to the bank on demand
inorder to ensure the letter to provide for facilities for
exchanging notes to provide for facilities for exchanging
notes into coins.If C.G fails to meet the obligation,RBI will
be releived from its obligation to supply coins to
public .Coins are eligible assets os issue
department.Small coins are issued by C.G.Under coinage
Act 1906.However unlike Rupee coins,these are not
treated as assets of I.D of the bank.
liabilities (sec-34) of rbi:
•notes in circulation
•notes in banking department
assets (sec-33);
•gold coin & bullion
•rupee coin
•rupee securities
•foreign securities
The bank is required to
firnish C.G a weekly statement of its financial position.I.D
issues currency notes in excahnge of other
denominations or aganist assets.Bank has 18 official
issue offices
cash department:
•1.issue branch
•2.exchange branch
•2.a.public counters
•2.b.NES
•2.c.coin shroffing sec
general dept:
•staff sec
•resource sec
•remittance sec
•claims sec
•record sec
•accounts sec
•consolidation sec
SUPPLY OF NOTES AND COINS
Printing presses at dewas,nasik,salboni amd mysore
mints at hyderabad,mumbai,kolkata,noida,
security paper mill-hoshangabad
The quantum of notes to be printed broadly
•on the annual increase in the bank notes in circulation
•growth rate of economy
•replacement of soiled notes &reserve requirements
the forecast is made on statistical models
CURRENCY CHESTMECHANISMS:
The currency chests are nothing but extending of iisue
department of the public (mini issue department)
With the
objectives of ensuring adequate avavilability of notes
coins in the economy and maintainenece of quality of
notes,then has set up branches of issue depts in different
parts of the country known as currency chests.RBI has
established some agents to establish currency chests.
The agents are:
•SBI, its associates
•nationalised banks
•private sector banks
•co-operative banks
•few foreign banks
A currency chests is a store
room at specially permitted branches where rupee coin
&bank notes are stocked on behalf of RBI ,is the property
of RBI &hence C.Gis a miniature of ID .
The purpose for which C.G are establlished are:-
•to meet the requirements of people
•to maintain the quality of currency
•to facilitate exchange of different denominators
•to operate banks &treasuries with minimum balance
•to make payment on behalf of govt depts
•to exchange milti lated &soiled notes as per note refund
rules
•to obeviate the necessity of physical transfer of cash
from one place to another
 Questions and Answers About the New Question Types Included
in the GRE® General Test Beginning in November 2007

Why did you add new question types to the test?

The addition of new question types is part of the first phase of improvements that the GRE
Program has been planning, endorsed by graduate school educators. Previous plans for launching
an entirely new test all at once were dropped in favor of introducing new question types and
improvements gradually.

How many new test questions will I see on my test?

You may see one new Verbal question or one new Quantitative question or no new questions at
all. No test taker will receive more than ONE new question.

Will this question affect my score?

Initially, the new question types will not count towards a test taker’s score. However, the GRE
Program will begin counting these question types as soon as an adequate sample of data from the
operational testing environment is available. If you receive a new question type, you are advised
to treat it as if it counts.

How can I prepare for the new question types?

Sample questions and test-taking strategies are available on the GRE website at
www.ets.org/gre/newquestiontypes.

Will the new question types be included in the paper-based GRE General Test?
No. The new question types will not be included in the paper-based GRE General Test or the
split-test administrations of the GRE General Test offered in China (including Hong Kong),
Korea or Taiwan.

Will there be an on-screen calculator?

No. An on-screen calculator will not be available.

Will the number of questions in a section and timing in the sections change?
No. The number of questions in each section of the test and the timing of the sections will not
change. Refer to the GRE Information and Registration Bulletin or GRE PowerPrep® software
for information about the number of questions and timing of each section.

Will partial credit be awarded on the new Verbal Reasoning question types?
No. Partial credit will not be awarded. In order for a question to be scored as correct, all the
answer choices selected in the two or three blanks within a passage must be correct.

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