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In the context of International Banking ...

In the context of International Banking transactions what is the full form of SWIFT?

A

1. Society for Wireless International Financial transactions

B

2. Society for Worldwide Interbank Financial Telecommunications

C

3. Society for Worldwide International Financial Telecommunication

D

4. Society for Worldwide International Financial transactions

Text Solution

Verified by Experts

The correct Answer is:
B
SWIFT stands for Society for Worldwide Interbank Financial Telecommunications (SWIFT) system. A huge messaging network used by the banks and its other financial institutions for safe and secure transfer of the information related to the work of the bank.
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