Canada, U.S.A. and their European allies have come to a conclusion to remove the key Russian banks from the Interbank messaging system (IMS) of SWIFT. This is a very big step that will cut off the country from much of the worldwide financial system.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
KEY POINTS:
What is SWIFT?
SWIFT stands for Society for Worldwide Interbank Financial Telecommunications and is an independent enterprise, which is based in Belgium. SWIFT serves as an internal communication mechanism between around 11,000 banks and financial institutions for more than 200 countries and territories.
World AIDS Vaccine Day, also known as HIV Vaccine Awareness Day, is observed annually on…
The Indian government has announced plans for public sector companies like Coal India, NMDC, and…
In April, India's merchandise exports saw a modest 1% increase, reaching $34.99 billion, driven by…
The Open Network for Digital Commerce (ONDC), a digital infrastructure initiative launched in 2021, has…
In response to rising credit demand and falling liquidity, State Bank of India (SBI) has…
The Indian Army is poised to elevate its air defense capabilities with the impending delivery…