This is based on 

very simple concept:-
It has three letters and they are coded as follows
Second Letter -
First Letter – Operation Third Letter - Application
Measurement
Quantity A - Attracted armature A - Auxiliary
A - Phase angle B - Buchholz B - Testing
comparison C - Induction C - Carrier or Counting
B - Balanced Current D - Induction Disc D - Directional
C - Current (Amps) G - Galvanometer E - Earth/Ground
D - Differential I - Transmitter F - Plug or Alarm Indicator
E - Direction J - Mixed Types G - General or Generator
F - Frequency M - Magnet  H - Harmonic Restricted
M - Manual (polarized) J - Tripping
O - Oil Pressure P - Plug JE - Tripping (Electrical Reset)
P - Poly phase VA R - Rectifier JM - Tripping (Manual Reset)
R - Reactive VA S - Synchronized  JS - Tripping (Self)
S - Slip Frequency Motor JC - Tripping (Conductor)
T - Temperature T - Transistor K - Check Alarm
V - Potential W - Weight (Gravity) L - Local Limiting
W - Watts M - Same Phi or motor
X - Reactance N - Negative Sequence
Y - Admittance O - Out of Step
(Conductance) P - Potential Failure
Z - Impedance R - Re-closing
S - Synchronizing
T - Timer or Transformer
U - Definite Time
V - Voltage Resistant
W - Piolet Wire
WA - Interposing
WS - Inter-tripping
X - Supervisory
Y - Flash Back 
(Black Fire)
Z - Special Application
Z0 - Zero Sequence

Examples :
CDG - Current (operation), Disc(Measurement),General Purpose(Application)
CAG - Current (operation),Attracted armature(Measurement),General Purpose (Application)
VAJ - Potential (operation), Attracted armature(Measurement), Tripping(Application)
VTT - Potential (operation), Transmitter(Measurement),Transformer(Application)
VAZ - Potential (operation), Attracted armature (Measurement),Special Application
VAA - Potential (operation), Attracted armature (Measurement),Auxiliary (Application)