16 Mar 2022 17:09:PM
IMPS means Immediate Payment Service. (Photo credit: PTI)

New Delhi: The banking system is considered to be the backbone of a nation’s economy. It manages finances in a country, including credits, cash, different types of loans, deposits, types of payment cards, mobile and internet banking systems, etc. While doing any bank-related work, whether we do it online or visit a bank in person, we come across many acronyms. From online transactions to writing a cheque, the use of acronyms is very common in bank-related works. These words are common, but we somehow miss out on what it stands for. As banking is a significant part of our personal and professional life, it is always useful for consumers to learn some common banking terms. This can help you to secure and manage your account in a better way. In this article, we will tell you the full forms of the most common terms used.
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