Strait is nothing but a narrow passage of water which connects two seas or other large areas of water. Here Palk strait is the strait that separates India from Sri Lanka.
ANBC refers to Adjusted Net Bank Credit, is Net Bank Credit added to investments made by banks in non-SLR bonds (in held-to-maturity) or it is the credit equivalent of off-balance - sheet exposures, whichever is higher.
Net Bank Credit = Outstanding bank credits in India (-) Bills rediscounted with RBI/approved financial institutions.