Match the following items of List – I with List – II : List – IList – II (i) SWIFT (a) 1996 (ii) NEFT…
SWIFT, the international bank messaging network, was founded in 1973; the Basel I Accord on bank capital was issued in 1988 and the Basel II Accord in 2004. That leaves 1996…
Choose your answer
Match the following items of List – I with List – II :
| List – I | List – II |
|---|---|
| (i) SWIFT | (a) 1996 |
| (ii) NEFT | (b) 1988 |
| (iii) BASEL I Accord | (c) 1973 |
| (iv) BASEL II Accord | (d) 2004 |
Answer and explanation
Correct answer D
SWIFT, the international bank messaging network, was founded in 1973; the Basel I Accord on bank capital was issued in 1988 and the Basel II Accord in 2004. That leaves 1996 for the funds-transfer item, which reflects the Reserve Bank of India's Electronic Funds Transfer scheme of the mid-1990s; NEFT in its present form was launched in November 2005. The matching is SWIFT with 1973, NEFT with 1996, Basel I with 1988 and Basel II with 2004.
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UGC NET Commerce