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Abbreviations
Abbreviations used in the Document

ATM

Automated Teller Machines

BCs

Business Correspondents

BIS

Bank for International Settlements

BPSS

Board for Regulation and Supervision of Payment and Settlement Systems

CCIL

Clearing Corporation of India Limited

CCPs

Cheque Collection Policies

CenECS

Centralised ECS

CFMS

Centralised Funds Management System

CPCs

Cheque Processing Centres

CPSS

Committee on Payment and Settlement Systems

CTS

Cheque Truncation System

ECS

Electronic Clearing Service

FATF

Financial Action Task Force

IFSC

Indian Financial System Code

IRDA

Insurance Regulatory and Development Authority

MICR

Magnetic Ink Character Recognition

MMBCS

Magnetic Media Based Clearing System

NECS

National Electronic Clearing Service

NEFT

National Electronic Funds Transfer

NFS

National Financial Switch

NPCI

National Payments Corporation of India

RECS

Regional ECS

RTGS

Real Time Gross Settlement

SEBI

Securities and Exchange Board of India

SIPS

Systemically Important Payment Systems

SPC

SAARC Payments Council

SWIPS

System-Wide Important Payment Systems

SWS

Secured Web Server


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